Document:

EX-10.1

 Exhibit 10.1 

EXECUTION VERSION 
  

 
  

SECOND AMENDED AND RESTATED CREDIT AGREEMENT 

dated as of February 9, 2018 

among 
 DITECH HOLDING
CORPORATION, 
 as Borrower, 

THE LENDERS PARTY HERETO 
 and

 CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH 

as Administrative Agent and Collateral Agent 
  

 
  

 

 TABLE OF CONTENTS 

 

							
	 	  	 	  	 Page
	 
	 ARTICLE 1
	  	 DEFINITIONS
	  	 	2	 
			
	 Section 1.01
	  	Defined Terms	  	 	2	 
	 Section 1.02
	  	Terms Generally	  	 	41	 
	 Section 1.03
	  	Classification of Loans and Borrowings	  	 	42	 
	 Section 1.04
	  	Designated Senior Indebtedness	  	 	42	 
			
	 ARTICLE 2
	  	 THE CREDITS
	  	 	42	 
			
	 Section 2.01
	  	 Loans
	  	 	42	 
	 Section 2.02
	  	 [Reserved]
	  	 	42	 
	 Section 2.03
	  	 [Reserved]
	  	 	42	 
	 Section 2.04
	  	 Evidence of Debt; Repayment of Loans
	  	 	42	 
	 Section 2.05
	  	 Fees
	  	 	43	 
	 Section 2.06
	  	 Interest on Loans
	  	 	43	 
	 Section 2.07
	  	 Default Interest
	  	 	44	 
	 Section 2.08
	  	 Alternate Rate of Interest
	  	 	44	 
	 Section 2.09
	  	 [Reserved]
	  	 	44	 
	 Section 2.10
	  	 Conversion and Continuation of Borrowings
	  	 	44	 
	 Section 2.11
	  	 Repayment of Term Borrowings
	  	 	46	 
	 Section 2.12
	  	 Voluntary Prepayment
	  	 	46	 
	 Section 2.13
	  	 Mandatory Prepayments
	  	 	47	 
	 Section 2.14
	  	 Reserve Requirements; Change in Circumstances
	  	 	49	 
	 Section 2.15
	  	 Change in Legality
	  	 	50	 
	 Section 2.16
	  	 Breakage
	  	 	50	 
	 Section 2.17
	  	 Pro Rata Treatment
	  	 	51	 
	 Section 2.18
	  	 Sharing of Setoffs
	  	 	51	 
	 Section 2.19
	  	 Payments
	  	 	52	 
	 Section 2.20
	  	 Taxes
	  	 	52	 
	 Section 2.21
	  	 Assignment of Commitments Under Certain Circumstances; Duty to Mitigate
	  	 	55	 
	 Section 2.22
	  	 [Reserved]
	  	 	56	 
	 Section 2.23
	  	 [Reserved]
	  	 	56	 
	 Section 2.24
	  	 Defaulting Lenders
	  	 	56	 
	 Section 2.25
	  	 Incremental Facilities
	  	 	57	 
	 Section 2.26
	  	 Amend and Extend Transactions
	  	 	58	 
	 Section 2.27
	  	 Credit Agreement Refinancing Facilities
	  	 	60	 
			
	 ARTICLE 3
	  	 REPRESENTATIONS AND WARRANTIES
	  	 	61	 
			
	 Section 3.01
	  	 Company Status
	  	 	61	 
	 Section 3.02
	  	 Power and Authority
	  	 	61	 
	 Section 3.03
	  	 No Violation
	  	 	61	 
	 Section 3.04
	  	 Approvals
	  	 	62	 

  
 i 

							
	 Section 3.05
	  	 Financial Statements; Financial Condition; Undisclosed Liabilities
	  	 	62	 
	 Section 3.06
	  	 Litigation
	  	 	63	 
	 Section 3.07
	  	 True and Complete Disclosure
	  	 	63	 
	 Section 3.08
	  	 Use of Proceeds; Margin Regulations
	  	 	63	 
	 Section 3.09
	  	 Tax Returns and Payments
	  	 	63	 
	 Section 3.10
	  	 Compliance with ERISA
	  	 	64	 
	 Section 3.11
	  	 Security Documents
	  	 	64	 
	 Section 3.12
	  	 Properties
	  	 	64	 
	 Section 3.13
	  	 Capitalization
	  	 	65	 
	 Section 3.14
	  	 Subsidiaries
	  	 	65	 
	 Section 3.15
	  	 Compliance with Statutes, Etc.
	  	 	65	 
	 Section 3.16
	  	 Investment Company Act
	  	 	65	 
	 Section 3.17
	  	 Insurance
	  	 	65	 
	 Section 3.18
	  	 Environmental Matters
	  	 	65	 
	 Section 3.19
	  	 Employment and Labor Relations
	  	 	66	 
	 Section 3.20
	  	 Intellectual Property, Etc.
	  	 	66	 
	 Section 3.21
	  	 Indebtedness
	  	 	66	 
	 Section 3.22
	  	 Anti-Terrorism Law
	  	 	67	 
	 Section 3.23
	  	 [Reserved]
	  	 	67	 
	 Section 3.24
	  	 [Reserved]
	  	 	67	 
	 Section 3.25
	  	 [Reserved]
	  	 	67	 
	 Section 3.26
	  	 Foreign Corrupt Practices Act
	  	 	67	 
			
	 ARTICLE 4
	  	 CONDITIONS OF LENDING
	  	 	68	 
			
	 Section 4.01
	  	 Conditions Precedent
	  	 	68	 
			
	 ARTICLE 5
	  	 AFFIRMATIVE COVENANTS
	  	 	71	 
			
	 Section 5.01
	  	 Information Covenants
	  	 	71	 
	 Section 5.02
	  	 Books, Records and Inspections
	  	 	73	 
	 Section 5.03
	  	 Maintenance of Property; Insurance
	  	 	73	 
	 Section 5.04
	  	 Existence; Franchises
	  	 	74	 
	 Section 5.05
	  	 Compliance with Statutes, Etc.
	  	 	74	 
	 Section 5.06
	  	 Compliance with Environmental Laws
	  	 	75	 
	 Section 5.07
	  	 ERISA
	  	 	75	 
	 Section 5.08
	  	 End of Fiscal Years; Fiscal Quarters
	  	 	76	 
	 Section 5.09
	  	 [Reserved]
	  	 	76	 
	 Section 5.10
	  	 Payment of Taxes
	  	 	76	 
	 Section 5.11
	  	 Use of Proceeds
	  	 	76	 
	 Section 5.12
	  	 Additional Security; Further Assurances; Etc.
	  	 	76	 
	 Section 5.13
	  	 [Reserved]
	  	 	77	 
	 Section 5.14
	  	 [Reserved]
	  	 	77	 
	 Section 5.15
	  	 [Reserved]
	  	 	77	 
	 Section 5.16
	  	 [Reserved]
	  	 	77	 
	 Section 5.17
	  	 [Reserved]
	  	 	77	 
	 Section 5.18
	  	 Maintenance of Company Separateness
	  	 	77	 
	 Section 5.19
	  	 [Reserved]
	  	 	77	 
	 Section 5.20
	  	 Maintenance of Ratings
	  	 	77	 
	 Section 5.21
	  	 Designation of Subsidiaries
	  	 	78	 
	 Section 5.22
	  	 Post-Closing Items
	  	 	78	 

  
 ii 

							
			
	 ARTICLE 6
	  	 NEGATIVE COVENANTS
	  	 	78	 
			
	 Section 6.01
	  	 Liens
	  	 	78	 
	 Section 6.02
	  	 Consolidation, Merger, Sale of Assets, Etc.
	  	 	82	 
	 Section 6.03
	  	 Dividends
	  	 	85	 
	 Section 6.04
	  	 Indebtedness
	  	 	86	 
	 Section 6.05
	  	 Advances, Investments and Loans
	  	 	89	 
	 Section 6.06
	  	 Transactions with Affiliates
	  	 	92	 
	 Section 6.07
	  	 Asset Coverage Ratios
	  	 	93	 
	 Section 6.08
	  	 Interest Expense Coverage Ratio
	  	 	93	 
	 Section 6.09
	  	 First Lien Net Leverage Ratio
	  	 	94	 
	 Section 6.10
	  	 Modifications of Certain Agreements
	  	 	94	 
	 Section 6.11
	  	 Limitation on Certain Restrictions on Subsidiaries
	  	 	94	 
	 Section 6.12
	  	 Limitation on Issuance of Equity Interests
	  	 	95	 
	 Section 6.13
	  	 Business; Etc.
	  	 	95	 
	 Section 6.14
	  	 Limitation on Creation of Subsidiaries
	  	 	95	 
	 Section 6.15
	  	 Prepayments of Other Indebtedness
	  	 	96	 
			
	 ARTICLE 7
	  	 EVENTS OF DEFAULT
	  	 	96	 
			
	 Section 7.01
	  	 Events of Default
	  	 	96	 
			
	 ARTICLE 8
	  	 THE ADMINISTRATIVE AGENT AND THE COLLATERAL AGENT
	  	 	99	 
			
	 ARTICLE 9
	  	 MISCELLANEOUS
	  	 	102	 
			
	 Section 9.01
	  	 Notices; Electronic Communications
	  	 	102	 
	 Section 9.02
	  	 Survival of Agreement
	  	 	104	 
	 Section 9.03
	  	 Binding Effect
	  	 	104	 
	 Section 9.04
	  	 Successors and Assigns
	  	 	104	 
	 Section 9.05
	  	 Expenses; Indemnity
	  	 	109	 
	 Section 9.06
	  	 Right of Setoff
	  	 	110	 
	 Section 9.07
	  	 Applicable Law
	  	 	111	 
	 Section 9.08
	  	 Waivers; Amendment
	  	 	111	 
	 Section 9.09
	  	 Interest Rate Limitation
	  	 	112	 
	 Section 9.10
	  	 Entire Agreement
	  	 	113	 
	 Section 9.11
	  	 WAIVER OF JURY TRIAL
	  	 	113	 
	 Section 9.12
	  	 Severability
	  	 	113	 
	 Section 9.13
	  	 Counterparts
	  	 	113	 
	 Section 9.14
	  	 Headings
	  	 	113	 
	 Section 9.15
	  	 Jurisdiction; Consent to Service of Process
	  	 	113	 
	 Section 9.16
	  	 Confidentiality
	  	 	114	 
	 Section 9.17
	  	 Lender Action
	  	 	115	 
	 Section 9.18
	  	 USA PATRIOT Act Notice
	  	 	115	 
	 Section 9.19
	  	 Amendment and Restatement; No Novation
	  	 	115	 
	 Section 9.20
	  	 Acknowledgement and Consent to Bail-In of EEA Financial
Institutions
	  	 	115	 
			
	 SCHEDULE 1.01(a)
	  	 Lenders and Tranche B Term Loans
	  			
	SCHEDULE 1.01(b)	  	 Subsidiary Guarantors
	  			
	SCHEDULE 1.01(c)	  	 Unrestricted Subsidiaries
	  			
	SCHEDULE 3.05	  	 Financial Statements; Financial Condition; Undisclosed Liabilities
	  			

  
 iii 

			
	SCHEDULE 3.06	 	Litigation
	SCHEDULE 3.09	 	Certain Tax Matters
	SCHEDULE 3.11(c)	 	Mortgage Filing Offices
	SCHEDULE 3.12	 	Real Property
	SCHEDULE 3.14	 	Subsidiaries
	SCHEDULE 3.17	 	Insurance
	SCHEDULE 3.21	 	Existing Indebtedness
	SCHEDULE 4.02(a)	 	List of Counsel
	SCHEDULE 5.01	 	Reporting
	SCHEDULE 5.22	 	Post-Closing Items
	SCHEDULE 6.01	 	Existing Liens
	SCHEDULE 6.04	 	Existing Indebtedness
	SCHEDULE 6.05	 	Existing Investments
	SCHEDULE 6.11	 	Certain Restrictive Agreements
		
	EXHIBIT A	 	Form of Security Agreement
	EXHIBIT B	 	Form of Pledge Agreement
	EXHIBIT C	 	Form of First Lien/Second Lien Intercreditor Agreement
	EXHIBIT D	 	[Reserved]
	EXHIBIT E	 	Form of Subsidiaries Guaranty
	EXHIBIT F	 	Form of Intercompany Subordination Agreement
	EXHIBIT G	 	Form of Compliance Certificate
	EXHIBIT H	 	Form of Assignment and Acceptance
	EXHIBIT I	 	Form of Intercompany Note
	EXHIBIT J	 	Form of Administrative Questionnaire
	EXHIBIT K	 	Form of Solvency Certificate
	EXHIBIT L	 	Procedures for Dutch Auction

  
 iv 

 SECOND AMENDED AND RESTATED CREDIT AGREEMENT dated as of February 9, 2018, among DITECH
HOLDING CORPORATION (formerly known as Walter Investment Management Corp.), a Maryland corporation (the “Borrower”), the Lenders (such term and each other capitalized term used but not defined in this introductory statement having
the meaning given it in ARTICLE I), and CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, as administrative agent (in such capacity, including any successor thereto, the “Administrative Agent”) and as collateral agent (in such capacity,
including any successor thereto, the “Collateral Agent”) for the Lenders. This Agreement amends and restates the Pre-Petition Credit Agreement (as defined below) in its entirety. 

RECITALS 
 WHEREAS, on
November 30, 2017 (the “Petition Date”), the Borrower commenced a voluntary petition for reorganization pursuant to chapter 11 of the Bankruptcy Code with the United States Bankruptcy Court for the Southern District of New York
(the “Bankruptcy Court”); 
 WHEREAS, prior to the Petition Date, financing was provided to the Borrower pursuant to that
certain Amended and Restated Credit Agreement, dated as of December 19, 2013, as amended by Amendment No. 1 thereto dated as of February 23, 2016, Amendment No. 2 thereto dated as of August 5, 2016 and Amendment No. 3
thereto dated as of July 31, 2017 (and as further amended, restated, amended and restated, supplemented or otherwise modified prior to the Petition Date, the “Pre-Petition Credit
Agreement”), by and among the Borrower, the lenders from time to time party thereto (the “Pre-Petition Lenders”), and Credit Suisse AG, Cayman Islands Branch (successor to Credit
Suisse AG), as administrative agent and collateral agent, pursuant to which the Pre-Petition Lenders extended credit to the Borrower consisting of (a) Tranche B Term Loans in an original aggregate
principal amount of $1,500,000,000 (the “Pre-Petition Term Loans”) and (b) revolving credit commitments in an original aggregate amount of $125,000,000; 

WHEREAS, the Pre-Petition Term Loans, together with all accrued and unpaid interest, fees,
indemnities, costs and other payment obligations pursuant to the Pre-Petition Credit Agreement that are outstanding immediately prior to the Closing Date (collectively, the “Pre-Petition Term Loan Obligations”), are owing as of the Closing Date; 
 WHEREAS, on
January 18, 2018, the Bankruptcy Court entered the Confirmation Order (as defined herein); 
 WHEREAS, in connection with the
implementation and consummation of the Plan of Reorganization (as defined herein), and subject to the terms and conditions set forth herein, in the other Credit Documents, in the Plan of Reorganization and in the Confirmation Order, the Lenders have
agreed to enter into this Agreement, which shall be an amendment and restatement of the Pre-Petition Credit Agreement; and 

WHEREAS, upon the effectiveness of the Plan of Reorganization, (a) all Pre-Petition Term Loan
Obligations shall continue as Obligations (including accrued and unpaid non-default interest outstanding under the Pre-Petition Credit Agreement) and (b) the Pre-Petition Term Loans shall continue as Tranche B Term Loans hereunder and each initial Lender shall be deemed to have made, in the aggregate, $1,156,500,513.53 of Tranche B Term Loans. 

  
 1 

 The Lenders are willing to extend such credit to the Borrower on the terms and subject to the
conditions set forth herein. Accordingly, the parties hereto agree as follows: 
 ARTICLE 1 

DEFINITIONS 

Section 1.01    Defined Terms. As used in this Agreement, the following terms shall have the following
meanings: 
 “ABR”, 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. 
 “Acquired Entity”
shall have the meaning assigned to such term in Section 6.05(xii). 
 “Additional Credit Extension Amendment” shall
mean an amendment to this Agreement (which may, at the option of the Administrative Agent, be in the form of an amendment and restatement of this Agreement) providing for any Incremental L/C Commitments pursuant to Section 2.25, Extended Term
Loans and/or Extended L/C Commitments pursuant to Section 2.26 or Refinancing Term Loans pursuant to Section 2.27, which shall be consistent with the applicable provisions of this Agreement and otherwise satisfactory to the parties
thereto. Each Additional Credit Extension Amendment shall be executed by the Administrative Agent, the Credit Parties and the other parties specified in the applicable Section of this Agreement (but not any other Lender). Any Additional Credit
Extension Amendment may include conditions for delivery of opinions of counsel and other documentation consistent with the conditions in Section 4.01, all to the extent reasonably requested by the Administrative Agent or the other parties to
such Additional Credit Extension Amendment. 
 “Additional Lender” shall mean, at any time, any Person that is not an
existing Lender and that agrees to provide any portion of any (a) Incremental L/C Commitments in accordance with Section 2.25 or (b) Refinancing Term Loans pursuant to an Additional Credit Extension Amendment in accordance with
Section 2.27; provided that such Additional Lender shall be an Eligible Assignee. 
 “Additional Security
Documents” shall have the meaning assigned to such term in Section 5.12. 
 “Adjusted Consolidated Net
Income” shall mean, for any period, Consolidated Net Income for such period plus (a) the sum (without duplication) of: 
 (i)    non-cash charges or non-cash losses (including, but not limited to share-based non-cash compensation and non-cash fair value adjustments and non-cash interest expense) which were included in arriving at Consolidated Net Income for such period; 

(ii)    servicing income earned during such period for servicing of assets in any Securitization Entity (other than any
such income attributable to a Heritage Walter Securitization Trust) to the extent consolidated on the balance sheet and carried at fair value; 

(iii)    principal payments received during such period by any Heritage Walter Securitization Trust from borrowers to the
extent consolidated on the balance sheet; 
 (iv)    net cash proceeds received during such period from sales of REO
Assets by any Heritage Walter Securitization Trust to the extent consolidated on the balance sheet; 
 (v)    the amount
of all cash received during such period from the initial or tail issuance of reverse mortgage securities (HMBS) less any cash payments made during such period to originate, acquire or fund the related loans and subsequent additions to such loans to
the extent not included in Consolidated Net Income for such period; and 

  
 2 

 (vi)    any cash received for servicing of reverse mortgages to the extent
not included in Consolidated Net Income for such period; 
 less (b) the sum of: 

(i)    non-cash gains and non-cash income,
including but not limited to non-cash fair value adjustments, which were included in arriving at Consolidated Net Income for such period; 

(ii)    the amount of all cash gains on Asset Sales the Net Sale Proceeds of which were applied as a mandatory repayment
of Term Loans pursuant to Section 2.13(c) or reinvested (or to be reinvested) as permitted by such Section 2.13(c) to the extent that such cash gains were included in arriving at Consolidated Net Income for such period; and 

(iii)    principal payments during such period on Indebtedness of any Heritage Walter Securitization Trust to the extent
consolidated on the balance sheet. 
 “Adjusted LIBO Rate” shall mean, with respect to any Eurodollar Borrowing for any
Interest Period, an interest rate per annum equal to the product of (i) the LIBO Rate in effect for such Interest Period and (ii) Statutory Reserves; provided that, in the case of the Tranche B Term Loans, if the Adjusted LIBO Rate
as so determined for any Interest Period is less than 1.00% per annum, then Adjusted LIBO Rate with respect to the Tranche B Term Loans for such Interest Period shall be deemed to be 1.00% per annum. 

“Administrative Agent” shall have the meaning assigned to such term in the introductory statement to this Credit Agreement.

 “Administrative Questionnaire” shall mean an Administrative Questionnaire substantially in the form of Exhibit J, or
such other form as may be supplied from time to time by the Administrative Agent. 
 “Affiliate” shall mean, with respect
to any Person, any other Person directly or indirectly controlling (including, but not limited to, all directors and officers of such Person), controlled by, or under direct or indirect common control with, such Person. A Person shall be deemed to
control another Person if such Person possesses, directly or indirectly, the power (i) to vote 10% or more of the securities having ordinary voting power for the election of directors (or equivalent governing body) of such Person or
(ii) to direct or cause the direction of the management and policies of such other Person, whether through the ownership of voting securities, by contract or otherwise. 

“Agents” shall have the meaning assigned to such term in Article 8. 

“Aggregate Incremental Amount” shall mean, at any time, the sum of the aggregate principal amount of Incremental L/C
Commitments incurred at or prior to such time. 
 “Agreement” shall mean this Second Amended and Restated Credit Agreement,
as modified, supplemented, amended, restated (including any amendment and restatement hereof), extended or renewed from time to time. 

  
 3 

 “All-in Yield” shall mean, as to any
Indebtedness, the effective yield thereon as determined in good faith by the Borrower and the Administrative Agent taking into account the applicable interest rate, margin, original issue discount and upfront fees; provided that original
issue discount and upfront fees shall be equated to interest rate assuming a four-year life to maturity (or, if less, the life of such Indebtedness); provided further that any eurodollar rate floor or base rate floor (“new
floor”) that is greater than the comparable eurodollar rate floor or base rate floor applicable to the Tranche B Term Loans at such time shall only be taken into account in determining the All-in-Yield with respect to the Tranche B Term Loans to the extent an increase in any interest rate floor applicable to the Tranche B Term Loans to the corresponding new floor would cause an increase in the
yield applicable to the Tranche B Term Loans then in effect; provided further that “All-in Yield” shall not include arrangement, commitment, underwriting, amendment, structuring or similar
fees paid to any agent, underwriter or arranger or fees that are not paid ratably to the market with respect to such Indebtedness. 

“Alternate Base Rate” shall mean, 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 in effect on such day plus 1/2 of 1% and (c) the Adjusted LIBO Rate on such day (or if such day is not a Business Day, the immediately preceding Business Day) for a Eurodollar Borrowing with
an Interest Period of one month plus 1.00%. If the Administrative Agent shall have determined (which determination shall be conclusive absent manifest error) that it is unable to ascertain the Federal Funds Effective Rate for any reason, including
the inability or failure of the Administrative Agent to obtain sufficient quotations in accordance with the terms of the definition thereof, the Alternate Base Rate shall be determined without regard to clause (b) of the preceding sentence
until the circumstances giving rise to such inability no longer exist. Any change in the Alternate Base Rate due to a change in the Prime Rate, the Federal Funds Effective Rate or the Adjusted LIBO Rate shall be effective on the effective date of
such change in the Prime Rate, the Federal Funds Effective Rate or the Adjusted LIBO Rate, as the case may be. 
 “Amend and Extend
Transaction” shall mean an extension of maturity transaction described in and effected pursuant to Section 2.26. 

“Anti-Terrorism Laws” shall have the meaning assigned to such term in Section 3.22(a). 

“Applicable Excess Cash Flow Prepayment Percentage” shall mean, at any time, 50%. 

“Applicable Margin” shall mean (a) with respect to any Eurodollar Loan, 6.00% per annum and (b) with respect to any
ABR Loan, 5.00% per annum. 
 “Asset Coverage Ratio A” shall mean, on any date of determination, the ratio of (a) Net
Assets A of the Borrower and its Restricted Subsidiaries, as of such date of determination, to (b) all First Lien Indebtedness. 

“Asset Coverage Ratio B” shall mean, on any date of determination, the ratio of (a) Net Assets B of the Borrower and its
Restricted Subsidiaries, as of such date of determination, to (b) all First Lien Indebtedness. 
 “Asset Sale” shall
mean any sale, transfer or other disposition (or series of related sales, transfers or other dispositions) (each, a “Disposition”) by the Borrower or any Restricted Subsidiary to any Person other than to the Borrower or a Subsidiary
Guarantor of any asset (including, without limitation, any capital stock or other securities of, or Equity Interest in, another Person) not made in the Ordinary Course of Business; provided that no
Non-Core Asset Sale or Disposition of Bulk MSR shall constitute an “Asset Sale”; provided further that any such Disposition permitted pursuant to Section 6.02(iv), Section 6.02(xiv)
or Section 6.02(xxv), to the extent not constituting a Non-Core Asset Sale or Disposition of Bulk MSR, shall constitute an “Asset Sale”. 

  
 4 

 “Assignment and Acceptance” shall mean an assignment and acceptance entered into
by a Lender and an Eligible Assignee, and accepted by the Administrative Agent, substantially in the form of Exhibit H or such other form as shall be approved by the Administrative Agent. 

“Authorized Officer” shall mean the chief executive officer, president, any vice-president, chairman, vice chairman,
secretary, any assistant secretary, treasurer, any assistant treasurer, chief operating officer or chief financial officer of the Borrower. 

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

“Balance Sheet Value” shall mean, on any date of determination, with respect to any liability or asset (including Equity
Interests of any Person), as of any date of determination, the amount included on the consolidated balance sheet of the Borrower as of the fiscal quarter then last ended related to such liability or asset, calculated in accordance with GAAP. 

“Bankruptcy Code” shall mean Title 11 of the United States Code entitled “Bankruptcy,” as now or hereafter in
effect, or any successor thereto. 
 “Bankruptcy Court” shall have the meaning assigned to such term in the Recitals. 

“Borrower” shall have the meaning assigned to such term in the introductory statement to this Agreement. 

“Borrower Materials” shall have the meaning assigned to such term in Section 9.01. 

“Borrower Notice” shall have the meaning assigned to such term in Section 5.12(c). 

“Borrowing” shall mean Loans of the same Class and Type made, converted or continued on the same date and, in the case
of Eurodollar Loans, as to which a single Interest Period is in effect. 
 “Breakage Event” shall have the meaning assigned
to such term in Section 2.16. 
 “Bulk MSR” shall mean all MSR, including the related Servicing Advances, other than
Flow MSR. 
 “Business Day” shall mean any day other than a Saturday, Sunday or day on which banks in New York City are
authorized or required by law to close; provided, however, that when used in connection with a Eurodollar Loan, the term “Business Day” shall also exclude any day on which banks are not open for dealings in Dollar deposits in the
London interbank market. 

  
 5 

 “Calculation Period” shall mean, with respect to any Permitted Acquisition, any
Significant Asset Sale or any other event expressly required to be calculated on a Pro Forma Basis pursuant to the terms of this Agreement, the Test Period most recently ended prior to the date of such Permitted Acquisition, Significant Asset
Sale or other event for which financial statements have been delivered to the Lenders pursuant to Section 4.01(k) or Section 5.01(b) or (c), as applicable. 

“Capital Expenditures” shall mean, with respect to any Person, all expenditures (without duplication) by such Person which
should be capitalized in accordance with GAAP and, without duplication, the amount of Capitalized Lease Obligations incurred by such Person. 

“Capitalized Lease Obligations” shall mean, with respect to any Person, all rental obligations of such Person which, under
GAAP, are required to be capitalized on the books of such Person, in each case taken at the amount thereof accounted for as indebtedness in accordance with such principles. 

“Cash Equivalents” shall mean, as to any Person, (i) securities issued or directly and fully guaranteed or insured by
the United States or any agency or instrumentality thereof (provided that the full faith and credit of the United States is pledged in support thereof) having maturities of not more than one year from the date of acquisition,
(ii) marketable direct obligations issued by any state of the United States or any political subdivision of any such state or any public instrumentality thereof maturing within one year from the date of acquisition thereof and, at the time of
acquisition, having one of the two highest ratings obtainable from either S&P or Moody’s, (iii) Dollar denominated time deposits, certificates of deposit and bankers acceptances of any Lender or any commercial bank having, or which is
the principal banking subsidiary of a bank holding company having, a combined capital and surplus of at least $1,000,000,000 with maturities of not more than one year from the date of acquisition by such Person, (iv) repurchase obligations with
a term of not more than 30 days for underlying securities of the types described in clause (i) above entered into with any bank meeting the qualifications specified in clause (iii) above, (v) commercial paper issued by any Person
incorporated in the United States rated at least A-1 or the equivalent thereof by S&P or at least P-1 or the equivalent thereof by Moody’s and in each case
maturing not more than one year after the date of acquisition by such Person, and (vi) investments in money market funds substantially all of whose assets are comprised of securities of the types described in clauses (i) through (v) above.

 “CERCLA” shall mean the Comprehensive Environmental Response, Compensation, and Liability Act of 1980, as the same has
been amended and may hereafter be amended from time to time, 42 U.S.C. § 9601 et seq. 
 “Change in Adjusted
Consolidated Working Capital” shall mean, for a given period, without duplication, the sum of the changes (plus or minus) during such period in: (a) Servicing Advances net of the change in applicable borrowings under Permitted
Servicing Advance Facility Indebtedness, (b) finance receivable purchases or repurchases of Residential Mortgage Loans net of collections and liquidation proceeds on purchased receivables or repurchased Residential Mortgage Loans, (c) new
loan originations net of proceeds received from the sale of new loans, collections on new loans and the change in related borrowings under Permitted Warehouse Indebtedness, (d) cash and Cash Equivalents required to be maintained (i) at any
Restricted Subsidiary pursuant to bona fide legal or regulatory requirements, (ii) by any Non-Recourse Entities related to non-recourse financing or (iii) by
the Borrower or any Restricted Subsidiary in the ordinary course of business pursuant to any line of credit permitted to be maintained hereunder, and (e) other assets (excluding cash and Cash Equivalents) and liabilities (excluding the current
portion of any Indebtedness under this Agreement and the current portion of any other long term Indebtedness which would otherwise be included therein), to the extent the impact of such changes are reflected in the consolidated statement of cash
flows of the Borrower and the Restricted Subsidiaries, excluding for this purpose Securitization Entities (other than Heritage Walter Securitization Trusts) to the extent consolidated. 

  
 6 

 “Change in Law” shall mean (a) the adoption of any law, rule or regulation
after the Closing Date, (b) any change in any law, rule or regulation or in the interpretation or application thereof by any Governmental Authority or the NAIC after the Closing Date or (c) compliance by any Lender or any Issuing Bank (or,
for purposes of Section 2.14, by any lending office of such Lender or by such Lender’s or any such Issuing Bank’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 Closing Date; provided that notwithstanding anything herein to the contrary, (x) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines or
directives thereunder or issued in connection therewith and (y) all requests, rules, guidelines or directives promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar
authority) or 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” shall mean (i) any “person” or “group” (as such terms are used in Sections 13(d)
and 14(d) of the Exchange Act as in effect on the Closing Date) shall have obtained the power (whether or not exercised) to elect a majority of the board of directors (or equivalent governing body) of the Borrower, (ii) any “person”
or “group” (as such terms are used in Sections 13(d) and 14(d) of the Exchange Act as in effect on the Closing Date) is or shall become the “beneficial owner” (as defined in Rules 13(d)-3 and 13(d)-5 under the Exchange Act as in
effect on the Closing Date), directly or indirectly, of 35% or more on a fully diluted basis of the voting interests in the Borrower’s Equity Interests, (iii) the board of directors (or equivalent governing body) of the Borrower shall
cease to consist of a majority of Continuing Directors or (iv) a “change of control” or similar event howsoever denominated shall occur as provided in any Equity Interests of the Borrower (other than Qualified Equity Interests of the
Borrower) or any Indebtedness of the Borrower or any Restricted Subsidiary with an aggregate principal amount of at least $5,000,000 (or the documentation governing the same) and such “change of control” or similar event shall not be
waived in writing by the holders of such Equity Interests or Indebtedness; provided (x) for the avoidance of doubt, the acquisition pursuant to the Plan of Reorganization of the Convertible Preferred Stock or common Equity Interests in
the Borrower or securities convertible, exchangeable or exercisable for such Equity Interests and agreements and arrangements entered into pursuant to the Plan of Reorganization but not any acquisition or agreement thereafter shall not constitute a
“Change of Control”, (y) no Person or Persons shall be considered a “group” for purposes of this definition solely on account of possessing or exercising any right to vote or consent in respect of any matter or to nominate or
appoint directors pursuant to the organizational documents of the Borrower or Convertible Preferred Stock (including with respect to the General Optional Conversion Right therein) and (z) all determinations as to the percentage of voting
interests in the Borrower’s Equity Interests beneficially owned shall deem the Convertible Preferred Stock to have been converted in full into common Equity Interests for purposes of such determination. 

“Charges” shall have the meaning assigned to such term in Section 9.09. 

“Claims” shall have the meaning assigned to such term in the definition of “Environmental Claims”. 

“Class”, when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such
Borrowing, are Tranche B Term Loans, Extended L/C Commitments (of the same Extension Series), Extended Term Loans (of the same Extension Series) or Refinancing Term Loans and, when used in reference to any Commitment, refers to whether such
Commitment is an Incremental L/C Commitment or a Refinancing Term Loan Commitment and when used in reference to any Lender, refers to whether such Lender has a Loan or Commitment with respect to the applicable Class. 

  
 7 

 “Closing Date” shall mean the date on which the conditions specified in
Section 4.01 are satisfied (or waived in accordance with Section 9.08). 
 “Closing Date Warrants” shall mean the
Series A Warrants and the Series B Warrants. 
 “Code” shall mean the Internal Revenue Code of 1986. 

“Collateral” shall mean all property (whether real or personal) with respect to which any security interests or liens have
been granted (or purported to be granted) pursuant to any Security Document, including all Pledge Agreement Collateral, all Security Agreement Collateral and all Mortgaged Properties. 

“Collateral Agent” shall have the meaning assigned to such term in the introductory statement to this Agreement. 

“Commitment” shall mean, with respect to any Lender, such Lenders’ Incremental L/C Commitment or Refinancing Term Loan
Commitment. 
 “Communications” shall have the meaning assigned to such term in Section 9.01. 

“Company” shall mean any corporation, limited liability company, partnership or other business entity (or the adjectival form
thereof, where appropriate). 
 “Confirmation Order” means an order of the Bankruptcy Court confirming the Plan of
Reorganization. 
 “Connection Taxes” shall mean, with respect to the Administrative Agent or any Lender, Taxes imposed as
a result of a present or former connection between such Administrative Agent or Lender and the jurisdiction imposing such Tax (other than connections arising solely from such Administrative Agent or Lender having executed, delivered, become a party
to, performed its obligations under, received payments under, received or perfected a security interest under, engaged in any other transaction pursuant to, or enforced, any Credit Document, or sold or assigned an interest in any Loan or Credit
Document). 
 “Consolidated EBITDA” shall mean, for any period, “Adjusted EBITDA” as disclosed on each filed Form
10-K and Form 10-Q, as applicable, for such period; provided, solely for purposes of calculating the First Lien Net Leverage Ratio, with respect to the fiscal
quarter of the Borrower ended December 31, 2017, “Consolidated EBITDA” shall mean “Adjusted EBITDA” as disclosed on the Form 10-K of the Borrower for such period, plus, without
duplication, the amount of any Reductions which were included in the calculation of “Adjusted EBITDA” in respect of (i) advance receivables in an amount not to exceed $5,000,000, (ii) property repurchase risk within the default
servicing operation in an aggregate amount not to exceed $6,000,000 and (iii) potential losses regarding curtailment items within the reverse mortgage operation in an aggregate amount not to exceed $8,000,000; provided further, the total
amount of Reductions added back in reliance on the foregoing clauses (i) through (iii) may not exceed $15,900,000. 

“Consolidated Indebtedness” shall mean, at any time, the sum of (without duplication) (i) all Indebtedness of the
Borrower and the Restricted Subsidiaries (on a consolidated basis) as would be required to be reflected as debt or Capitalized Lease Obligations on a consolidated balance sheet of the Borrower and the Restricted Subsidiaries in accordance with GAAP,
(ii) all Indebtedness of the Borrower and the Restricted Subsidiaries of the type described in clause (ii) of the definition of Indebtedness and (iii) all Contingent Obligations of the Borrower and the Restricted Subsidiaries in
respect of Indebtedness 

  
 8 

 
of any third Person of the type referred to in preceding clauses (i) and (ii); provided that no determination of “Consolidated Indebtedness” shall include (x) the
aggregate amount available to be drawn or paid (i.e., unfunded amounts) under all letters of credit, bankers’ acceptances, bank guaranties, surety and appeal bonds and similar obligations issued for the account of the Borrower or any
Restricted Subsidiary (but excluding, for avoidance of doubt, all unpaid drawings or other matured monetary obligations owing in respect of such letters of credit, bankers’ acceptances, bank guaranties, surety and appeal bonds and similar
obligations) or (y) Non-Recourse Indebtedness, Permitted Securitization Indebtedness of any Securitization Entity, obligations under Excess Spread Sales or Permitted Funding Indebtedness other than MSR
Indebtedness. For the avoidance of doubt, Consolidated Indebtedness shall not include Indebtedness of the Borrower or any Restricted Subsidiary to GNMA trusts. 

“Consolidated Interest Expense” shall mean, for any period, (i) the total cash consolidated interest expense of the
Borrower and the Restricted Subsidiaries (including, without limitation, all commissions and other commitment and banking fees and charges (e.g., fees with respect to letters of credit, Interest Rate Protection Agreements and Other Hedging
Agreements, but excluding, to the extent included therein, arrangement, commitment, underwriting, amendment, structuring, original issue discounts or similar fees paid to any agent, underwriter or arranger or fees that are not paid ratably to the
market), but excluding, to the extent included therein, cash interest expense attributable to Non-Recourse Indebtedness, Excess Spread Sales, Permitted Securitization Indebtedness and Permitted Funding
Indebtedness other than MSR Indebtedness) for such period (calculated without regard to any limitations on payment thereof), plus (ii) without duplication, that portion of Capitalized Lease Obligations of the Borrower and the Restricted
Subsidiaries on a consolidated basis representing the interest factor for such period. For purposes of the foregoing, interest expense shall be determined after giving effect to any net payments made or received by the Borrower or any Restricted
Subsidiary with respect to Interest Rate Protection Agreements. 
 “Consolidated Net Income” shall mean, for any period,
the net income (or loss) of the Borrower and the Restricted Subsidiaries determined on a consolidated basis for such period (taken as a single accounting period) in accordance with GAAP, provided that (A) the following items shall be
excluded in computing Consolidated Net Income (without duplication): (i) the net income of any Person (other than Borrower) in which a Person or Persons other than the Borrower and its Wholly-Owned Restricted Subsidiaries has an Equity Interest or
Equity Interests, except to the extent of the amount of cash dividends or other cash distributions of net income actually paid to the Borrower or a Wholly-Owned Restricted Subsidiary by such Person during such period, (ii) except for
determinations expressly required to be made on a Pro Forma Basis, the net income (or loss) of any Person prior to the date it becomes a Restricted Subsidiary or all or substantially all of the property or the net income related to assets of
such Person are acquired by the Borrower or a Restricted Subsidiary and (iii) the net income of any Restricted Subsidiary to the extent that the declaration or payment of cash dividends or similar cash distributions by such Restricted
Subsidiary of such net income is not at the time permitted by the operation of the terms of its charter or any agreement, instrument, judgment, decree, order, statute, rule or governmental regulation applicable to such Restricted Subsidiary, and
(B) any interest expense on Permitted Servicing Advance Facility Indebtedness and Permitted Warehouse Indebtedness for such period shall reduce Consolidated Net Income for such period to the extent that such amounts did not otherwise reduce
Consolidated Net Income for such period. 
 “Consummation of the Plan of Reorganization” shall mean the occurrence of the
Plan Effective Date and the substantial consummation of the Plan of Reorganization within the meaning of Section 1101(2) of the Bankruptcy Code. 

  
 9 

 “Contingent Obligation” shall mean, as to any Person, any obligation of such
Person as a result of such Person being a general partner of any other Person, unless the underlying obligation is expressly made non-recourse as to such general partner, and any obligation of such Person
guaranteeing, having the economic effect of guaranteeing or intended to guarantee any Indebtedness, leases, dividends or other obligations (“primary obligations”) of any other Person (the “primary obligor”) in any
manner, whether directly or indirectly, including, without limitation, any obligation of such Person, whether or not contingent, (i) to purchase any such primary obligation or any property constituting direct or indirect security therefor,
(ii) to advance or supply funds (x) for the purchase or payment of any such primary obligation or any property constituting direct or indirect security therefor or (y) to maintain working capital or equity capital of the primary
obligor or otherwise to maintain the net worth, solvency or other financial statement condition of the primary obligor, (iii) to purchase or lease property, securities or services primarily for the purpose of assuring the owner of any such
primary obligation of the ability of the primary obligor to make payment of such primary obligation or (iv) otherwise to assure or hold harmless the holder of such primary obligation against loss in respect thereof; provided, however,
that the term Contingent Obligation shall not include endorsements of instruments for deposit or collection in the ordinary course of business or any customary carve-out matters for which such Person acts as a
guarantor, such as fraud, misappropriation, breach of representation and warranty and misapplication, unless and until a claim for payment or performance has been made in respect thereof (which has not been satisfied). The amount of any Contingent
Obligation shall be deemed to be an amount equal to the stated or determinable amount of the primary obligation in respect of which such Contingent Obligation is made or, if not stated or determinable, the maximum reasonably anticipated liability in
respect thereof (assuming such Person is required to perform thereunder) as determined by such Person in good faith. 
 “Continuing
Directors” shall mean the directors (or equivalent governing body) of the Borrower on the Closing Date (including all directors appointed to the board of directors pursuant to the Plan) and each other director (or equivalent Person) if such
director’s (or equivalent Person’s) nomination for election to the board of directors (or equivalent governing body) of the Borrower is recommended by a majority of the then Continuing Directors. 

“Contract Consideration” shall have the meaning assigned to such term in the definition of “Excess Cash Flow”. 

“Convertible Preferred Stock” shall mean the Mandatorily Convertible Preferred Stock (as defined in the Plan of
Reorganization). 
 “Credit Documents” shall mean this Agreement, the Subsidiaries Guaranty, the Pledge Agreement, the
Security Agreement, the Intercompany Subordination Agreement and, after the execution and delivery thereof pursuant to the terms of this Agreement, each Note, each other Security Document and each Additional Credit Extension Amendment. 

“Credit Enhancement Agreements” shall mean, collectively, any documents, instruments, guarantees or agreements entered into
by the Borrower, any Restricted Subsidiary, or any Securitization Entity for the purpose of providing credit support (that is reasonably customary as determined by the Borrower’s senior management), including pursuant to netting or similar
arrangements, with respect to any Permitted Funding Indebtedness, Permitted Securitization Indebtedness and/or any related Interest Rate Protection Agreement. 

“Credit Facilities” shall mean the term loan and, if applicable letter of credit facilities provided for by this Agreement.

 “Credit Party” shall mean the Borrower and each Subsidiary Guarantor. 

  
 10 

 “Credit Suisse” shall mean Credit Suisse AG, Cayman Islands Branch (successor to
Credit Suisse AG). 
 “Debtor Relief Laws” shall mean the Bankruptcy Code, and all other liquidation, conservatorship,
bankruptcy, assignment for the benefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization, or similar debtor relief laws of the United States or other applicable jurisdictions from time to time in effect. 

“Default” shall mean any event, act or condition which with notice or lapse of time, or both, would constitute an Event of
Default. 
 “Defaulting Lender” shall mean, subject to Section 2.24(b), any Lender that (a) has failed to
(i) fund all or any portion of its Loans within two Business Days of the date such Loans were required to be funded hereunder or (ii) pay to the Administrative Agent or any other Lender any other amount required to be paid by it hereunder
within two Business Days of the date when due, (b) has notified the Borrower or the Administrative Agent in writing that it does not intend to comply with its funding obligations hereunder, or has made a public statement to that effect,
(c) has failed, within three Business Days after written request by the Administrative Agent or the Borrower, to confirm in writing to the Administrative Agent and the Borrower that it will comply with its prospective funding obligations
hereunder (provided that such Lender shall cease to be a Defaulting Lender pursuant to this clause (c) upon receipt of such written confirmation by the Administrative Agent and the Borrower), or (d) has, or has a direct or indirect
parent company that has, (i) become the subject of a proceeding under any Debtor Relief Law or, (ii) had appointed for it a receiver, custodian, conservator, trustee, administrator, assignee for the benefit of creditors or similar Person
charged with reorganization or liquidation of its business or assets, including the Federal Deposit Insurance Corporation or any other state or federal regulatory authority acting in such a capacity, or (iii) become the subject of a Bail-in Action; 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 direct or indirect parent company thereof
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 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 Section 2.24(b)) upon delivery of written notice of such determination to the Borrower and
each Lender. 
 “Designated Material Contract” shall mean, as of any date of determination, any commercial contract of the
Borrower or its Restricted Subsidiaries that (i) is filed publicly by the Borrower as an exhibit to its then most recently filed 10-K or any 10-Q filed thereafter
and prior to such date and (ii) has been identified in writing as such to the Administrative Agent on or prior to the Closing Date (and upon the request of any Lender, the Administrative Agent shall make the list of Designated Material
Contracts available to such Lender). 
 “Disposition” shall have the meaning assigned to such term in the definition of
“Asset Sale”. 
 “Dividend” shall mean, with respect to any Person, that such Person has, directly or indirectly,
declared or paid a dividend, distribution or returned any other amount with respect to any Equity Interests to its stockholders, shareholders, partners or members or authorized or made any other distribution, payment or delivery of property or cash
to its stockholders, shareholders, partners or members in their capacity as such, or redeemed, retired, purchased or otherwise acquired or terminated or cancelled, directly or indirectly, for a consideration (whether in cash, securities or other
property) any shares of any 

  
 11 

 
class of its capital stock or any other Equity Interests outstanding on or after the Closing Date (or any options or warrants issued by such Person with respect to its capital stock or other
Equity Interests), or set aside any funds for any of the foregoing purposes, or shall have permitted any of the Restricted Subsidiaries to purchase or otherwise acquire for a consideration any shares of any class of the capital stock or any other
Equity Interests of such Person outstanding on or after the Closing Date (or any options or warrants issued by such Person with respect to its capital stock or other Equity Interests). 

“Dollars” and the sign “$” shall each mean freely transferable lawful money of the United States. 

“Domestic Subsidiary” of any Person shall mean any Subsidiary of such Person incorporated or organized in the United States
or any State thereof or the District of Columbia. 
 “Dutch Auction” shall mean an auction conducted by the Borrower to
purchase Term Loans as contemplated by Section 9.04(l) substantially in accordance with the procedures set forth in Exhibit L. 

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

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

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

“Eligible Assignee” shall mean (i) a Lender, (ii) an Affiliate of a Lender, (iii) a Related Fund of a Lender
and (iv) any other Person (other than a natural person) approved by the Administrative Agent; and, unless an Event of Default has occurred and is continuing, the Borrower (each such approval not to be unreasonably withheld or delayed and, in
the case of the Borrower, any such approval shall be deemed to have been given if the Borrower has not responded within five Business Days of a request for such approval); provided that notwithstanding the foregoing, “Eligible
Assignee” shall not include (x) except as permitted under Section 9.04(l), the Borrower or any of the Borrower’s Affiliates or (y) 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). 
 “Environmental Claims” shall mean
any and all administrative, regulatory or judicial actions, suits, demands, demand letters, orders, claims, liens, notices of noncompliance, violation, or liability investigations or proceedings relating in any way to any Environmental Law or any
permit issued, or any approval given, under any such Environmental Law (hereafter, “Claims”), including, without limitation, (a) any and all Claims by Governmental Authorities for enforcement, cleanup, removal, response,
remedial or other actions or damages pursuant to any applicable Environmental Law, and (b) any and all Claims by any third party seeking damages, contribution, indemnification, cost recovery, compensation or injunctive relief in connection with
alleged injury or threat of injury to health, safety or the environment due to the presence of Hazardous Materials. 

  
 12 

 “Environmental Law” shall mean any federal, state, foreign or local statute,
law, rule, regulation, ordinance, code and rule of common law now or hereafter in effect and in each case as amended, including any judicial or administrative order, consent decree or judgment, relating to the environment, natural resources, human
health and safety or Hazardous Materials, including, without limitation, CERCLA; the Resource Conservation and Recovery Act, 42 U.S.C. § 6901 et seq.; the Federal Water Pollution Control Act, 33 U.S.C. § 1251 et seq.; the
Toxic Substances Control Act, 15 U.S.C. § 2601 et seq.; the Clean Air Act, 42 U.S.C. § 7401 et seq.; the Safe Drinking Water Act, 42 U.S.C. § 300f et seq.; the Oil Pollution Act of 1990, 33 U.S.C. § 2701
et seq.; the Emergency Planning and the Community Right-to-Know Act of 1986, 42 U.S.C. § 11001 et seq.; the Hazardous Material Transportation
Act, 49 U.S.C. § 5101 et seq.; the Occupational Safety and Health Act, 29 U.S.C. § 651 et seq.; and any state and local or foreign counterparts or equivalents, in each case as amended from time to time. 

“Equity Interests” of any Person shall mean any and all shares, interests, rights to purchase, warrants, options,
participation or other equivalents of or interest in (however designated) equity of such Person, including any common stock, preferred stock, any limited or general partnership interest and any limited liability company membership interest;
provided that, for the avoidance of doubt and without limitation, “Equity Interests” shall exclude any Indebtedness convertible into or exchangeable for Equity Interests. 

“ERISA” shall mean the Employee Retirement Income Security Act of 1974, as amended from time to time, and the regulations
promulgated and rulings issued thereunder. Section references to ERISA are to ERISA, as in effect at the Closing Date and any subsequent provisions of ERISA, amendatory thereof, supplemental thereto or substituted therefor. 

“ERISA Affiliate” shall mean any trade or business (whether or not incorporated) that, together with Borrower or a Restricted
Subsidiary of Borrower is treated as a “single employer” within the meaning of Section 414(b), (c), (m) or (o) of the Code. 

“ERISA Event” shall mean (a) any Reportable Event, (b) with respect to any Plan or Multiemployer Plan, the failure
to satisfy the minimum funding standard (as defined in Section 412 or 430 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 402(c) of ERISA of an
application for a waiver of the minimum funding standard with respect to any Plan or Multiemployer Plan, (d) the filing of a notice to terminate any Plan if such termination would require material additional contributions in order to be
considered a standard termination within the meaning of Section 4041(b) of ERISA, (e) a determination that any Plan is in “at-risk status” or any Multiemployer Plan is in “endangered
status” or “critical status” (as each is defined in Section 303 and 305 of ERISA, respectively), (f) the incurrence by the Borrower or any of its ERISA Affiliates of any liability under Title IV of ERISA with respect to the
termination of any Plan or the withdrawal or partial withdrawal of the Borrower or any of its ERISA Affiliates from any Plan or Multiemployer Plan, (g) proceedings have been instituted to terminate or appoint a trustee to administer any Plan
which is subject to Title IV of ERISA, (h) the receipt by the Borrower or any of its ERISA Affiliates of any notice, or the receipt by any Multiemployer Plan from the Borrower or any of its ERISA Affiliates of any notice, concerning the
imposition of Withdrawal Liability or a determination that a Multiemployer Plan is, or is expected to be, insolvent or in reorganization, within the meaning of Title IV of ERISA or (i) the occurrence of a
non-exempt “prohibited transaction” with respect to which the Borrower or any ERISA Affiliate is a “disqualified person” (each within the meaning of Section 4975 of the Code) that is
reasonably likely to result in material liability to the Borrower. 
 “EU Bail-In
Legislation Schedule” shall mean the EU Bail-In Legislation Schedule published by the Loan Market Association (or any successor person), as in effect from time to time. 

  
 13 

 “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” shall have the meaning assigned to such term in Section 7.01. 

“Evidence of Flood Insurance” shall have the meaning assigned to such term in Section 5.12(c). 

“Excess Cash Flow” shall mean, for any period, the remainder of (a) the sum of, without duplication, (i) Adjusted
Consolidated Net Income for such period and (ii) Change in Adjusted Consolidated Working Capital (if negative) for such period, minus (b) the sum of, without duplication, (i) without duplication of amounts deducted pursuant to clause
(v) below, the aggregate amount of all Capital Expenditures made by the Borrower and the Restricted Subsidiaries in cash during such period and the aggregate amount of cash used to consummate Permitted Acquisitions during such period or to
acquire MSR during such period (including, for this purpose, the aggregate amount of all principal prepayments and repayments of Permitted MSR Indebtedness during such period the proceeds of which were previously used to purchase MSR) (other than
such Capital Expenditures, Permitted Acquisitions and acquisitions of MSR to the extent financed with equity proceeds, Equity Interests, asset sale proceeds (other than from sales of inventory in the ordinary course of business), insurance or
condemnation proceeds or Indebtedness or other proceeds that would not be included in Adjusted Consolidated Net Income), (ii) the aggregate amount of permanent principal payments in cash of Indebtedness of the types described in clauses (i), (iii),
(iv) and (vii) of the definition of Indebtedness of the Borrower and the Restricted Subsidiaries during such period (other than (1) repayments of Permitted Funding Indebtedness, Non-Recourse
Indebtedness and Securitization Indebtedness, (2) repayments of revolving loans unless such repayment is accompanied by a corresponding permanent reduction in commitments in respect thereof, (3) repayments made with the proceeds of asset
sales (other than from sales of inventory in the ordinary course of business), sales or issuances of Equity Interests, capital contributions, insurance or condemnation events or Indebtedness or other proceeds that would not be included in Adjusted
Consolidated Net Income and (4) payments of Loans and/or other Obligations, provided that repayments of Term Loans shall be deducted in determining Excess Cash Flow to the extent such repayments were required pursuant to
Section 2.11(a)), (iii) Change in Adjusted Consolidated Working Capital (if positive) for such period, (iv) the aggregate amount of Investments made in cash in any Permitted Funds during such period (other than such Investments to the
extent financed with equity proceeds, Equity Interests, asset sale proceeds (other than from sales of inventory in the ordinary course of business), insurance or condemnation proceeds or Indebtedness or other proceeds that would not be included in
Adjusted Consolidated Net Income) and (v) without duplication of amounts deducted from Excess Cash Flow in other periods, the aggregate consideration required to be paid in cash by the Borrower or any of the Restricted Subsidiaries pursuant to
binding contracts with an entity that is not an Affiliate (the “Contract Consideration”) entered into during such period relating to Permitted Acquisitions, acquisitions of MSRs or Capital Expenditures to be consummated or made
during the period of 120 days following the end of such period, provided that to the extent the aggregate amount of cash actually utilized to finance such Permitted Acquisitions, acquisitions of MSRs or Capital Expenditures during such 120-day period (other than to the extent financed with equity proceeds, Equity Interests, asset sale proceeds (other than from sales of inventory in the ordinary course of business), insurance or condemnation
proceeds or Indebtedness or other proceeds that would not be included in Adjusted Consolidated Net Income) is less than the Contract Consideration, the Borrower shall apply such shortfall as a mandatory prepayment of the Loans pursuant to
Section 2.13(d) no later than the earliest to occur of the (A) abandonment of such planned expenditure, (B) making of such planned expenditure and (C) last day of such 120-day period. 

  
 14 

 “Excess Cash Flow Payment Date” shall mean the earlier of (a) the date
occurring 90 days after the last day of each fiscal year of the Borrower (commencing with the fiscal year of the Borrower ending December 31, 2018) and (b) the third Business Day following the date on which financial statements with
respect to such period are delivered pursuant to Section 5.01(c). 
 “Excess Cash Flow Payment Period” shall mean with
respect to the repayment required on each Excess Cash Flow Payment Date, the immediately preceding fiscal year of the Borrower. 

“Excess Spread Sale” shall mean any sale in the ordinary course of business and for Fair Market Value of any excess servicing
fee spread under any MSR. 
 “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended, and the rules and
regulations promulgated thereunder. 
 “Excluded Collateral” shall have the meaning assigned to such term in the Security
Agreement. 
 “Excluded Subsidiary” shall mean each (a) Non-Recourse Entity,
(b) Securitization Entity, (c) Restricted Subsidiary that is prohibited by any applicable law from guaranteeing the Obligations or that would require the consent, approval, license or authorization of any Governmental Authority (other than
a Government Sponsored Entity) or any Regulatory Supervising Organization to guarantee the Obligations (unless such consent, approval, license or authorization has been received), (d) Unrestricted Subsidiary, (e) Immaterial Subsidiary,
(f) REIT Subsidiary, (g) MSR Facility Trust, (h) Foreign Subsidiary, (i) Domestic Subsidiary substantially all of the direct assets of which consist of Equity Interests in one or more Foreign Subsidiaries, (j) Domestic
Subsidiary of a Foreign Subsidiary, (k) Subsidiary that is not a Wholly-Owned Subsidiary of the Borrower and (l) special purpose Subsidiary established for the purpose of incurring Permitted Securitization Indebtedness or Permitted
Servicing Advance Facility Indebtedness so long as such Subsidiary continues to be utilized solely for such purpose. 
 “Excluded
Taxes” shall mean, with respect to the Administrative Agent, any Lender, any Issuing Bank or any other recipient of any payment to be made by or on account of any obligation of the Borrower or any other Credit Party hereunder,
(a) income or franchise taxes imposed on (or measured by) its net income by the United States of America, or by the jurisdiction under the laws of which such recipient is organized or in which its principal office is located or, in the case of
any Lender, in which its applicable lending office is located, or that are Connection Taxes, (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 or in which the Borrower is located, (c) in the case of a Lender (other than an assignee pursuant to a request by the Borrower under Section 2.21(a)), any withholding tax that is imposed on amounts payable to such Lender
under applicable law in effect at the time such Lender acquires any interest in a Loan or a Commitment or designates a new lending office, except to the extent that such Lender (or its assignor, if any) was entitled, at the time of acquisition of
such interest in a Loan or Commitment, designation of a new lending office or assignment, to receive additional amounts from the Borrower with respect to such withholding tax pursuant to Section 2.20(a), (d) any Tax attributable to such
Lender’s failure to comply with Section 2.20(e) and (e) any Taxes imposed pursuant to FATCA. 
 “Executive
Order” shall have the meaning assigned to such term in Section 3.22(a). 
 “Existing Indebtedness” shall have
the meaning assigned to such term in Section 3.21. 
 “Extended L/C Commitment” shall mean any Class of
Incremental L/C Commitments the maturity of which shall have been extended pursuant to Section 2.26. 
 “Extended Term
Loans” shall mean any Class of Term Loans the maturity of which shall have been extended pursuant to Section 2.26. 

  
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 “Extension” shall have the meaning assigned to such term in Section 2.26.

 “Extension Offer” shall have the meaning assigned to such term in Section 2.26(b). 

“Extension Series” shall mean all Extended Term Loans and Extended L/C Commitments that are established pursuant to the same
Additional Credit Extension Amendment (or any subsequent Additional Credit Extension Amendment to the extent such Additional Credit Extension Amendment expressly provides that the Extended Term Loans or Extended L/C Commitments, as applicable,
provided for therein are intended to be a part of any previously established Extension Series) and that provide for the same interest margins, extension fees, if any, and amortization schedule. 

“Fair Market Value” shall mean, with respect to any asset (including any Equity Interests of any Person), the price at which
a willing buyer that is not an Affiliate of the seller, and a willing seller, would reasonably be expected to agree to purchase and sell such asset, as determined in good faith by the Borrower or the Restricted Subsidiary selling such asset. 

“Fannie Mae” shall mean the Federal National Mortgage Association, in its corporate capacity, and any majority owned and
controlled affiliate thereof. 
 “FATCA” shall mean Sections 1471 through 1474 of the Code, as of the Closing Date (or any
amended or successor version that is substantively comparable and not materially more onerous to comply with), any current or future regulations or official interpretations thereof and any agreements entered into pursuant to Section 1471(b)(1)
of the Code and any intergovernmental agreements implementing the foregoing. 
 “Federal Funds Effective Rate” shall mean,
for any day, the rate per annum calculated by the Federal Reserve Bank of New York based on such day’s federal funds transactions by depository institutions (as determined in such manner as the Federal Reserve Bank of New York shall set forth
on its public website from time to time), as published by the Federal Reserve Bank of New York on the Business Day next succeeding such day; provided that if such day is not a Business Day, the Federal Funds Effective Rate for such day shall
be such rate on such transactions on the next preceding Business Day as so published on the next succeeding Business Day. 
 “Fee
Letter” shall mean the Amended and Restated Agent Fee Letter, dated as of the Closing Date, among the Borrower, Credit Suisse Securities (USA) LLC and the Administrative Agent. 

“Fees” shall have the meaning assigned to such term in Section 2.05(b). 

“Financial Covenants” shall mean the covenants set forth in Sections 6.07, 6.08 and 6.09. 

“Financial Covenant Default” shall mean (i) a failure to comply with any of the Financial Covenants or (ii) the
taking of any action by the Borrower or any Restricted Subsidiary if such action was prohibited hereunder solely due to the existence of a Financial Covenant Default of the type described in clause (i) of this definition. 

“FINRA” shall mean the Financial Industry Regulatory Authority, Inc. or any other self-regulatory body which succeeds to the
functions of the Financial Industry Regulatory Authority, Inc. 

  
 16 

 “First Lien Indebtedness” shall mean Consolidated Indebtedness of the Borrower
and its Restricted Subsidiaries that is secured by a Lien that is pari passu with (or not junior to) the Liens securing the Tranche B Term Loans (and any extension, renewal, replacement or refinancing thereof that is pari passu
therewith or any other Indebtedness that is required to be pari passu therewith hereunder). 
 “First Lien Net Leverage
Ratio” shall mean, on any date of determination, the ratio of (x) First Lien Indebtedness on such date minus the lesser of (i) the aggregate amount of Unrestricted cash and Cash Equivalents of the Borrower and its Restricted
Subsidiaries on such date and (ii) $250,000,000 to (y) Consolidated EBITDA of the Borrower and its Restricted Subsidiaries for the Test Period most recently ended on or prior to such date; provided that, for purposes of any calculation
of the First Lien Net Leverage Ratio pursuant to this Agreement, Consolidated EBITDA shall be determined on a Pro Forma Basis in accordance with the definition of “Pro Forma Basis” contained herein. 

“First Lien/Second Lien Intercreditor Agreement” shall mean the First Lien/Second Lien Intercreditor Agreement substantially
in the form of Exhibit C, dated as of the Closing Date, among, inter alios, the Borrower and the other Grantors (as defined therein) party thereto, Wilmington Savings Fund Society, FSB, as Junior Collateral Agent for the Junior Secured
Parties referred to therein and the Collateral Agent, as agent for the Senior Secured Parties referred to therein, and each other person from time to time party thereto. 

“Flood Determination Form” shall have the meaning assigned to such term in Section 5.12(c). 

“Flood Documents” shall have the meaning assigned to such term in Section 5.12(c). 

“Flood Laws” shall mean the National Flood Insurance Act of 1968 and the Flood Disaster Protection Act of 1973 (where
applicable). 
 “Flow MSR” shall mean all MSR that are funded or purchased by the Borrower or its Restricted Subsidiary
within the prior 120 days and sold to a counterparty pursuant to a flow purchase agreement in the Ordinary Course of Business. 

“Foreign Lender” shall mean any Lender that is not a “United States person” within the meaning of
Section 7701(a)(30) of the Code. 
 “Foreign Pension Plan” shall mean any plan, fund (including, without limitation,
any superannuation fund) or other similar program established or maintained outside the United States by the Borrower or any one or more of the Restricted Subsidiaries primarily for the benefit of employees of the Borrower or such Restricted
Subsidiaries residing outside the United States, which plan, fund or other similar program provides, or results in, retirement income, a deferral of income in contemplation of retirement or payments to be made upon termination of employment, and
which plan is not subject to ERISA or the Code. 
 “Foreign Subsidiary” of any Person shall mean any Subsidiary of such
Person that is not a Domestic Subsidiary. 
 “GAAP” shall mean generally accepted accounting principles in the United
States as in effect from time to time. 
 “GNMA” shall mean the Government National Mortgage Association. 

“GNMA Buyout” shall mean reverse loans which have been repurchased out of reverse GNMA securitization pools that are
included in “Residential loans” in the balance sheet of the Borrower. 

  
 17 

 “GNMA Buyout REO” shall mean any GNMA Buyout that is then classified as an REO
Asset. 
 “GNMA Buyout Percentage” shall mean 95.0% for each fiscal quarter during the fiscal years ending 2017, 2018 and
2019, and 92.0% for each fiscal quarter thereafter. 
 “Government Sponsored Entity” shall mean (i) Fannie Mae, the
Federal Home Loan Mortgage Corporation and GNMA and (ii) any other entity that is “sponsored”, chartered or controlled by the federal government of the United States. 

“Governmental Authority” shall mean the government of the United States of America, any other nation or any political
subdivision thereof, whether state, provincial or local, and any agency, authority, instrumentality, regulatory body, court, central bank, Government Sponsored Entity or other entity exercising executive, legislative, judicial, taxing, regulatory or
administrative powers or functions of or pertaining to government. 
 “Granting Lender” shall have the meaning assigned to
such term in Section 9.04(i). 
 “Hazardous Materials” shall mean (a) any petroleum or petroleum products,
radioactive materials, asbestos in any form that is or could become friable, lead, mold, urea formaldehyde foam insulation, polychlorinated biphenyls, and radon gas; (b) any chemicals, materials or substances defined as or included in the
definition of “hazardous substances,” “hazardous waste,” “hazardous materials,” “extremely hazardous substances,” “restricted hazardous waste,” “toxic substances,” “toxic
pollutants,” “contaminants,” or “pollutants,” or words of similar import, under any applicable environmental law; and (c) any other chemical, material or substance, the exposure to, or Release of which is prohibited,
limited or regulated by any Governmental Authority. 
 “Heritage Walter Securitization Trust” shall mean any Securitization
Entity of the Borrower or the Restricted Subsidiaries and any installment sale contract, chattel paper or loan contract and related promissory note and mortgage and any REO Asset owned by the Borrower or the Restricted Subsidiaries, in each case in
existence immediately prior to the acquisition by the Borrower on July 1, 2011 of GTCS Holdings LLC, a Delaware limited liability company. 

“Immaterial Subsidiary” shall mean, at any date of determination, a Restricted Subsidiary of the Borrower that, together with
all other Immaterial Subsidiaries, does not have (i) Consolidated EBITDA (determined on a Pro Forma Basis in accordance with the definition of “Pro Forma Basis” contained herein) for the period of four consecutive fiscal
quarters ended on the last day of the most recent fiscal period for which financial statements have been delivered pursuant to Section 5.01 that equal or exceed 5% of the Consolidated EBITDA (determined on a Pro Forma Basis in accordance
with the definition of “Pro Forma Basis” contained herein) of the Borrower and its Restricted Subsidiaries for such period, (ii) any material intellectual property or (iii) any material real property. The Borrower shall
notify the Administrative Agent quarterly as to all Immaterial Subsidiaries as provided in Section 5.01(f). The Borrower may designate and re-designate a Restricted Subsidiary as an Immaterial Subsidiary
at any time, subject to the terms set forth in this definition. 
 “Incremental Issuing Bank” shall mean a Lender with an
Incremental L/C Commitment or an outstanding Letter of Credit issued, or L/C Disbursement incurred, pursuant to an Incremental L/C Commitment. 

“Incremental L/C Commitment” shall mean the commitment of any Incremental Issuing Bank, established pursuant to
Section 2.25, to issue Letters of Credit on behalf of the Borrower. 

  
 18 

 “Indebtedness” shall mean, as to any Person, without duplication, (i) all
indebtedness of such Person for borrowed money or for the deferred purchase price of property or services and all obligations of such Person evidenced by bonds, debentures, notes or similar instruments, (ii) the maximum amount available to be
drawn or paid under all letters of credit, bankers’ acceptances, bank guaranties, surety and appeal bonds and similar obligations issued for the account of such Person and all unpaid drawings and unreimbursed payments in respect of such letters
of credit, bankers’ acceptances, bank guaranties, surety and appeal bonds and similar obligations, (iii) all indebtedness of the types described in clause (i), (ii), (iv), (v), (vi) or (vii) of this definition secured by any Lien on
any property owned by such Person, whether or not such indebtedness has been assumed by such Person (provided that, if the Person has not assumed or otherwise become liable in respect of such indebtedness, such indebtedness shall be deemed to
be in an amount equal to the fair market value of the property to which such Lien relates), (iv) all Capitalized Lease Obligations of such Person, (v) all Contingent Obligations of such Person in respect of indebtedness and other obligations
described in another clause of this definition, (vi) all obligations under any Interest Rate Protection Agreement, any Other Hedging Agreement or under any similar type of agreement and (vii) all obligations of such Person under
conditional sale or other title retention agreements relating to property or assets purchased by such Person. 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 directly liable therefor as a result of such Person’s ownership interest in or other relationship with such entity, except to the extent the terms of such Indebtedness provide that such Person is
not liable therefor. Notwithstanding the foregoing, Indebtedness shall not include trade payables, accrued expenses and deferred tax and other credits incurred by any Person in accordance with customary practices and in the ordinary course of
business of such Person. 
 “Indemnified Taxes” shall mean Taxes imposed on or with respect to any payment made by any
Credit Party under any Credit Document other than Excluded Taxes. 
 “Indemnitee” shall have the meaning assigned to such
term in Section 9.05(b). 
 “Information” shall have the meaning assigned to such term in Section 9.16. 

“Intercompany Debt” shall mean any Indebtedness, payables or other obligations, whether now existing or hereafter incurred,
owed by the Borrower or any Restricted Subsidiary to the Borrower or any other Restricted Subsidiary. 
 “Intercompany
Loans” shall have the meaning assigned to such term in Section 6.05(viii). 
 “Intercompany Note” shall mean
a promissory note evidencing Intercompany Loans, duly executed and delivered substantially in the form of Exhibit I (or such other form as shall be reasonably satisfactory to the Administrative Agent), with blanks completed in conformity herewith.

 “Intercompany Subordination Agreement” shall mean the Amended and Restated Intercompany Subordination Agreement dated as
of the Closing Date among the Borrower and certain subsidiaries of the Borrower and the Collateral Agent, substantially in the form of Exhibit F. 

“Intercreditor Agreement” shall mean, as the context may require, the First Lien/Second Lien Intercreditor Agreement and/or
any Other Intercreditor Agreement. 
 “Interest Expense Coverage Ratio” shall mean, for any period, the ratio of
(a) Consolidated EBITDA for such period to (b) Consolidated Interest Expense (reduced, to the extent included in such Consolidated Interest Expense, by the amount of any cash interest income with respect to Unrestricted cash and Cash
Equivalents of the Borrower and the Restricted Subsidiaries) for such period, in each case, 

  
 19 

 
of the Borrower and its Restricted Subsidiaries; provided that for purposes of any calculation of the Interest Expense Coverage Ratio, Consolidated EBITDA and Consolidated Interest Expense
shall be determined on a Pro Forma Basis in accordance with the requirements of the definition of “Pro Forma Basis” contained herein. 

“Interest Payment Date” shall mean (a) with respect to any ABR Loan, the last Business Day of each March, June,
September and December, and (b) with respect to any Eurodollar Loan, the last day of the Interest Period applicable to the Borrowing of which such Loan is a part and, in the case of a Eurodollar Borrowing with an Interest Period of more than
three months’ duration, each day that would have been an Interest Payment Date had successive Interest Periods of three months’ duration been applicable to such Borrowing. 

“Interest Period” shall mean, with respect to any Eurodollar Borrowing, the period commencing on the date of such Borrowing
and ending on the numerically corresponding day (or, if there is no numerically corresponding day, on the last day) in the calendar month that is 1, 2, 3 or 6 months thereafter, as the Borrower may elect; provided, however, that (a) 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, (b) any Interest Period that begins on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding day in the calendar month at the end of such
Interest Period) shall end on the last Business Day of the calendar month at the end of such Interest Period and (c) no Interest Period for any Loan shall extend beyond the maturity date of such Loan. Interest shall accrue from and including
the first day of an Interest Period to but excluding the last day 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. 
 “Interest Rate Protection Agreement” shall mean any interest
rate swap agreement, interest rate cap agreement, interest collar agreement, interest rate hedging agreement, master securities forward transaction agreement for the forward purchase or sale of obligations issued or guaranteed by the United States
government or agencies thereof, including TBA transactions on mortgage-backed securities or specified pool transactions, or any other agreement or arrangement similar to any of the foregoing. 

“Investments” shall have the meaning assigned to such term in Section 6.05. 

“Issuing Bank” shall mean a Lender with an L/C Commitment or an outstanding Letter of Credit or L/C Disbursement. 

“Knowledge of the Borrower”, “Knowledge of the Borrower or any of its Subsidiaries” or “Knowledge of
the Borrower or each Credit Party” shall mean the actual knowledge of any of the chief executive officer, president, any vice-president, secretary, any assistant secretary, treasurer, chief operating officer, chief financial officer, chief
strategic officer, general counsel, any assistant general counsel, chief information officer or chief human resources officer, or any other Person performing functions that would customarily be performed by a person holding any of the foregoing
positions, in each case of the Borrower. 
 “Latest Maturity Date” shall mean, at any date of determination, the latest
maturity or expiration date applicable to any Loan or Commitment (or, if so specified, applicable to the specified Loans or Commitments or Class thereof) hereunder at such time, including the latest maturity or expiration date of any
Incremental L/C Commitment, Extended Term Loan, Extended L/C Commitment or any Refinancing Term Loan, as applicable. 

  
 20 

 “L/C Cap” shall mean at any time an amount equal to $30,000,000, minus
(x) the aggregate face amount of all letters of credit outstanding at such time in reliance on Section 2.25 and/or Section 6.04(xx) and (y) the amount of cash, Cash Equivalents and cash and Cash Equivalents in accounts at such
time subject to Liens permitted in reliance on the L/C Cap pursuant to Section 6.01(xxx). 
 “L/C Commitments” shall
mean Incremental L/C Commitments and Extended L/C Commitments. 
 “L/C Disbursement” shall mean a payment or disbursement
made by any Issuing Bank pursuant to a Letter of Credit issued by such Issuing Bank. 
 “L/C Exposure” shall mean at any
time the sum of (a) the aggregate undrawn amount of all outstanding Letters of Credit at such time and (b) the aggregate amount of all L/C Disbursements that have not yet been reimbursed by or on behalf of the Borrower at such time. For
all purposes of this Agreement, if on any date of determination a Letter of Credit has expired by its terms but any amount may still be drawn thereunder by reason of the operation of Rule 3.14 of the ISP, such Letter of Credit shall be deemed to be
“outstanding” in the amount so remaining available to be drawn. 
 “Leaseholds” of any Person shall mean all the
right, title and interest of such Person as lessee or licensee in, to and under leases or licenses of land, improvements and/or fixtures. 

“Legacy Business” shall mean businesses related to non-Government Sponsored Entity or
non-Ginnie Mae mortgage loans or MSR (other than the RMS Business). 
 “Lenders” shall mean (a) the Persons listed on
Schedule 1.01(a) and (b) any Person that has become a party hereto pursuant to an Additional Credit Extension Amendment or Assignment and Acceptance, other than any such Person that has ceased to be a party hereto pursuant to an Assignment and
Acceptance. 
 “Letter of Credit” shall mean any letter of credit issued by one or more Lenders to the Borrower pursuant to
their Incremental L/C Commitments. 
 “LIBO Rate” shall mean, the Published LIBO Rate, as adjusted to reflect applicable
reserves prescribed by governmental authorities. 
 “Lien” shall mean any mortgage, deed of trust, pledge, hypothecation,
assignment, deposit arrangement, encumbrance, charge, lien (statutory or other), preference, priority or other security agreement of any kind or nature whatsoever (including, without limitation, the interest of a vendor or a lessor under any capital
lease, conditional sale agreement or other title retention agreement or any financing lease having substantially the same economic effect as any of the foregoing), in each case, in the nature of security. 

“Loans” shall mean any Tranche B Term Loan, Extended Term Loan or Refinancing Term Loan made by any Lender hereunder. 

“Margin Stock” shall have the meaning assigned to such term in Regulation U. 

“Material Adverse Effect” shall mean a material adverse effect (except for the implementation and consummation of the Plan of
Reorganization and the transactions contemplated thereby and the effects that may customarily result, directly or indirectly, therefrom) on (i) the business, operations, property, assets or financial condition of the Borrower and its Restricted
Subsidiaries taken as a whole, 

  
 21 

 
(ii) the rights or remedies of or benefits available to the Lenders, the Administrative Agent or the Collateral Agent hereunder or under any other material Credit Document or (iii) the
ability of the Borrower or the other Credit Parties, taken as a whole, to perform its or their obligations to the Lenders, the Administrative Agent or the Collateral Agent hereunder or under any other material Credit Document. 

“Maturity Date” shall mean the Tranche B Term Loan Maturity Date (in the case of Tranche B Term Loans), any maturity date
related to any tranche of L/C Commitments, any maturity date related to any tranche of Refinancing Term Loans or any maturity date related to any Extension Series of Extended Term Loans, in each case, as such date may be extended pursuant to
Section 2.26. 
 “Maximum Rate” shall have the meaning assigned to such term in Section 9.09. 

“Moody’s” shall mean Moody’s Investors Service, Inc., or any successor thereto. 

“Mortgage” shall mean a mortgage, deed of trust, deed to secure debt or similar security instrument made by any Credit Party
in favor of, or for the benefit of, the Collateral Agent for the benefit of the Secured Creditors in such form or forms as are reasonably satisfactory to the Collateral Agent. 

“Mortgage Policy” shall mean a lender’s title insurance policy (Form 2006). 

“Mortgaged Property” shall mean any Real Property owned by the Borrower or any Restricted Subsidiary which is encumbered (or
required to be encumbered) by a Mortgage pursuant to the terms hereof. 
 “MSR” of any Person shall mean any and all of the
following: (a) all rights of such Person to service Residential Mortgage Loans, (b) all rights of such Person as “Servicer” (or similar designation) in such Person’s capacity as servicing rights owner with respect to such
Residential Mortgage Loans under the related Servicing Agreement, including, without limitation (but subject to the restrictions set forth therein) directing who may service such Residential Mortgage Loans, (c) any and all rights of such Person
to servicing fees and other compensation for servicing such Residential Mortgage Loans, (d) any late fees, penalties or similar payments with respect to such Residential Mortgage Loans, (e) all accounts and rights to payment related to any
of the property described in this definition and (f) the right to possess and use any and all servicing files, servicing records, data tapes, computer records, or other information pertaining to such Residential Mortgage Loans to the extent
relating to the past, present or prospective servicing of such Residential Mortgage Loans. 
 “MSR Acknowledgement
Agreement” shall mean an Acknowledgement Agreement, in a form reasonably satisfactory to the Collateral Agent, among the Collateral Agent, the respective owner of the Residential Mortgage Loans to which the applicable MSR relate and the
applicable Credit Party pursuant to which the Collateral Agent acknowledges and agrees that its security interest in the MSR described in such Acknowledgement Agreement is subject and subordinate to all rights, powers and prerogatives of such owner
on the terms (and subject to the conditions) set forth in such Acknowledgement Agreement. 
 “MSR Call Option” shall mean
the right of an MSR Lender which is a Government Sponsored Entity to repurchase MSR from the Borrower or any Restricted Subsidiary the purchase of which was initially financed by such MSR Lender with proceeds of Permitted MSR Indebtedness so long as
the purchase price in respect thereof is at Fair Market Value and for cash. 
 “MSR Facility” shall mean any financing
arrangement of any kind, including, but not limited to, financing arrangements in the form of repurchase facilities, loan agreements, note issuance facilities and commercial paper facilities, with a financial institution or other lender (including,
without limitation, 

  
 22 

 
Fannie Mae or any other Government Sponsored Entity) or purchaser, in each case, exclusively to finance or refinance the purchase or origination by the Borrower or a Restricted Subsidiary of MSRs
originated or purchased by the Borrower or any Restricted Subsidiary. 
 “MSR Facility Trust” shall mean any Person
(whether or not a Restricted Subsidiary of the Borrower) established for the purpose of issuing notes or other securities in connection with an MSR Facility, which (i) notes and securities are backed by specified MSRs originated or purchased
by, and/or contributed to, such Person from the Borrower or any Restricted Subsidiary or (ii) notes and securities are backed by specified MSRs purchased by, and/or contributed to, such Person from the Borrower or any Restricted Subsidiary.

 “MSR Indebtedness” shall mean Indebtedness in connection with an MSR Facility; the amount of any particular MSR
Indebtedness as of any date of determination shall be calculated in accordance with GAAP. 
 “MSR Lender” shall mean a
third party financing source (including, without limitation, Fannie Mae) which provides financing to the Borrower or a Restricted Subsidiary the proceeds of which are used exclusively to purchase MSR relating to Residential Mortgage Loans. 

“Multiemployer Plan” shall mean a multiemployer plan as defined in Section 4001(a)(3) of ERISA to which the Borrower or
any ERISA Affiliate currently makes or is obligated to make contributions or to which the Borrower or any ERISA Affiliate has made or was obligated, within the preceding six years, to make contributions. 

“NAIC” shall mean the National Association of Insurance Commissioners. 

“Net Assets A” shall mean, on any date of determination, the sum of, without duplication: 

(a)    the Balance Sheet Value of “Cash and cash equivalents”; 

(b)    the Balance Sheet Value of “Servicing rights, net” minus the Balance Sheet Value of
“Servicing rights related liabilities”; 
 (c)    the Balance Sheet Value of “Servicer and protective
advances, net” minus the Balance Sheet Value of “Servicing advance liabilities”; 
 (d)    the
sum of (i) the sum of (y) the Balance Sheet Value of “Residential loans” and (z) the Balance Sheet Value of GNMA Buyout REO minus (ii) the sum of (w) the aggregate principal amount of Warehouse
Indebtedness with respect to which the assets described in clause (d)(i) are subject, (x) the Balance Sheet Value of the residential loans held in Residual Trusts and Non-Residual Trusts, (y) the
Balance Sheet Value of reverse loans which are in reverse GNMA securitization pools and (z) the Balance Sheet Value of residential loans which are in GNMA securitization pools that are eligible for early
buy-out; 
 (e)    the Balance Sheet Value of total assets less total
liabilities of the Residual Trusts; 
 (f)    the Balance Sheet Value of “Premises and equipment, net”; 

(g)    the Balance Sheet Value of “Receivables, net” minus the Balance Sheet Value of “Receivables,
net” related to the Non-Residual Trusts; and 

  
 23 

 (h)    the sum of (i) the Balance Sheet Value of “Other assets,
net” minus (ii) the sum of (y) the Balance Sheet Value of “Other assets” related to the Residual Trusts and Non-Residual Trusts and (z) the Balance Sheet Value of REO
assets which are in reverse GNMA securitization pools and any GNMA Buyout REOs included in “Net Assets A” pursuant to clause (d) above; 

provided, that “Net Assets A” shall include any exchange, substitution, replacement or recategorization of the foregoing to the extent such
asset would have been included in “Net Assets A” prior to such exchange, substitution, replacement or recategorization. 

“Net Assets B” shall mean, on any date of determination, the sum of, without duplication; 

(a)    the lesser of (i) the Balance Sheet Value of “Cash and cash equivalents” and (ii) $250,000,000; 

(b)    the Balance Sheet Value of “Servicing rights, net” minus the Balance Sheet Value of
“Servicing rights related liabilities”; 
 (c)    (if positive) (i) the then-applicable Servicer and
Protective Advance Percentage multiplied by the Balance Sheet Value of “Servicer and protective advances, net” minus (ii) the Balance Sheet Value of “Servicing advance liabilities”; 

(d)    (if positive) the sum of (i) 90% of (v) the Balance Sheet Value of “Residential loans”
minus (w) the Balance Sheet Value of the residential loans held in Residual Trusts and Non-Residual Trusts, minus (x) the Balance Sheet Value of reverse loans which are in reverse GNMA
securitization pools, minus (y) the Balance Sheet Value of residential loans which are in GNMA securitization pools that are eligible for early buy-out and minus (z) the Balance Sheet
Value of GNMA Buyouts and (ii) the then-applicable GNMA Buyout Percentage multiplied by the sum of (x) GNMA Buyouts and (y) the Balance Sheet Value of GNMA Buyout REO, minus (iii) the aggregate principal
amount of Warehouse Indebtedness to which the assets described in clause (d)(i)(v) and (d)(ii) are subject; 

(e)    75% of the sum of (i) the Balance Sheet Value of “total assets” minus (ii) the Balance
Sheet Value of “total liabilities”, in each case, of the Residual Trusts; 
 (f)    50% of MSR Holdback
Receivables; and 
 (g)    75% of Servicing Fee Receivables;  

provided that the foregoing clause (d) shall not exceed 15% of the aggregate amount constituting Net Assets B; provided further that the
sum of the foregoing clauses (d), (e) and (g) shall not exceed 20% of the aggregate amount constituting Net Assets B; provided further, that “Net Assets B” shall include any exchange, substitution, replacement or
recategorization of the foregoing to the extent (i) such asset would have been included in “Net Assets B” prior to such exchange, substitution, replacement or recategorization and (ii) any advance rate or other deduction
applicable to any such asset pursuant to the foregoing prior to such exchange, substitution, replacement or recategorization shall continue to apply to any such asset after such exchange, substitution, replacement or recategorization. 

“Net Cash Proceeds” shall mean, for any event requiring a repayment of Term Loans pursuant to Section 2.13(b) or (e), as
the case may be, the gross cash proceeds (including any cash received by way of deferred payment pursuant to a promissory note, receivable or otherwise, but only as and when received) received from such event, net of reasonable transaction costs
(including, as applicable, any underwriting, brokerage or other customary commissions and reasonable legal, advisory and other fees and expenses 

  
 24 

 
associated therewith) received from any such event and, in the case of a Recovery Event, net of the amount of such gross cash proceeds required to be used to permanently repay any Indebtedness
(other than Indebtedness secured by the Security Documents, Permitted External Refinancing Debt and any Permitted Refinancing thereof) which is secured by the respective property or assets destroyed, damaged, taken or otherwise underlying such
Recovery Event. 
 “Net Sale Proceeds” shall mean for any sale or other disposition of assets, the gross cash proceeds
(including any cash received by way of deferred payment pursuant to a promissory note, receivable or otherwise, but only as and when received) received from such sale or other disposition of assets, net of (i) reasonable transaction costs
(including, without limitation, any underwriting, brokerage or other customary selling commissions, reasonable legal, advisory and other fees and expenses (including title and recording expenses), associated therewith and sales, VAT and transfer
taxes arising therefrom), (ii) payments of unassumed liabilities relating to the assets sold or otherwise disposed of, to the extent that such payment of unassumed liabilities is required by law, rule, regulation or contract and is actually paid at
the time of, or within 90 days after, the date of such sale or other disposition, (iii) the amount of such gross cash proceeds required to be used to permanently repay any Indebtedness (other than Indebtedness secured by the Security Documents,
Permitted External Refinancing Debt and any Permitted Refinancing thereof) which is secured by the respective assets which were sold or otherwise disposed of, (iv) the estimated net marginal increase in income taxes which will be payable by the
Borrower’s consolidated group or any Restricted Subsidiary with respect to the fiscal year of the Borrower in which the sale or other disposition occurs as a result of such sale or other disposition (the “Net Tax Amount”),
provided that, after filing the Borrower’s tax return for the applicable year, the Borrower shall promptly determine in good faith whether such estimated Net Tax Amount exceeds the actual Net Tax Amount reflected on Borrower’s tax return
for the applicable year (as originally filed and without regard to any subsequent amendments to such tax return), and any such difference between the estimated Net Tax Amount and actual Net Tax Amount shall be treated as additional gross cash
proceeds and (v) with respect to any Disposition of MSR for which “subservicer” rights are retained, Servicing Advances receivables with respect to such Servicing Advances required to be made as subservicer under the related
subservicing agreement as estimated by the Borrower acting in good faith; provided, further, however, that such gross proceeds shall not include any portion of such gross cash proceeds which the Borrower determines in good faith should be reserved
for post-closing adjustments (to the extent the Borrower delivers to the Administrative Agent a certificate signed by an Authorized Officer of the Borrower as to such determination), it being understood and agreed that on the day that all such
post-closing adjustments have been determined (which shall not be later than 12 months following the date of the respective asset sale), the amount (if any) by which the reserved amount in respect of such sale or disposition exceeds the actual
post-closing adjustments payable by the Borrower or any Restricted Subsidiary shall constitute Net Sale Proceeds on such date received by the Borrower and/or any Restricted Subsidiary from such sale or other disposition. 

“Net Tax Amount” shall have the meaning assigned to such term in the definition of “Net Sale Proceeds”. 

“NFIP” shall have the meaning assigned to such term in Section 5.12(c). 

“Non-Core Asset Sales” shall mean any sale of (a) the RMS Business,
(b) Legacy Businesses, with Net Sale Proceeds in the aggregate in excess of $10,000,000 for the term of this Agreement; provided that sales for less than zero shall be treated as zero for purposes of such threshold, (c) the equity
interests of any Subsidiary that is not a Subsidiary Guarantor and (d) Residual Interests. 

“Non-Defaulting Lender” shall mean, at any time, each Lender that is not a Defaulting
Lender at such time. 

  
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 “Non-Recourse Entities” shall mean,
collectively, each Non-Recourse Servicer Advance Debt Entity, each Non-Recourse Warehouse Debt Entity and each Securitization Entity. 

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

“Non-Recourse Servicer Advance Debt Entity” shall mean any special purpose bankruptcy
remote Restricted Subsidiary of the Borrower that is exclusively engaged in making Servicing Advances and/or the transactions contemplated in the incurrence of Permitted Servicing Advance Facility Indebtedness that constitutes Non-Recourse Indebtedness in connection therewith and activities relating directly thereto. 
 “Non-Recourse Warehouse Debt Entity” shall mean any special purpose bankruptcy remote Restricted Subsidiary of the Borrower that is exclusively engaged in the origination of residential mortgage loans and
the incurrence of Permitted Warehouse Indebtedness that constitutes Non-Recourse Indebtedness in connection therewith and activities relating directly thereto. 

“Non-Residual Trust” shall mean any variable interest entity identified as a “Non-Residual Trust” in the most recently filed Form 10-K or Form 10-Q of the Borrower, as applicable. 

“Non-Wholly Owned Subsidiary” shall mean, as to any Person, each Subsidiary of such
Person which is not a Wholly-Owned Subsidiary of such Person. 
 “Notes” shall mean any promissory notes issued from time
to time pursuant to Section 2.04(e). 
 “Obligations” shall mean all amounts owing to the Administrative Agent, the
Collateral Agent, any Issuing Bank or any Lender pursuant to the terms of this Agreement or any other Credit Document, including, without limitation, all amounts in respect of any principal, premium, interest (including any interest accruing after
the commencement of any bankruptcy, insolvency, receivership or similar proceeding (or which would accrue but for the operation of applicable bankruptcy or insolvency laws) at the rate provided for herein, whether or not such interest is an allowed
or allowable claim in any such proceeding), penalties, fees, expenses, indemnifications, reimbursements (including L/C Disbursements with respect to Letters of Credit), damages and other liabilities, and guarantees of the foregoing amounts. 

“OFAC” shall have the meaning assigned to such term in Section 3.22(a). 

“Ordinary Course of Business” shall mean the ordinary course of business (i) as conducted by similarly situated
residential loan and mortgage finance businesses in good faith in a manner consistent with customary market practice for the industries in which the Borrower and its Subsidiaries operate or (ii) as conducted by the Borrower and its Subsidiaries
in good faith and consistent with past practice with respect to the scope of its normal business operations; provided that (x) with respect to Residential Mortgage Loans, in order for a Disposition thereof to have been made in the
“Ordinary Course of Business”, at the time of such Disposition, (I) the Borrower and its Restricted Subsidiaries shall not have exited or taken a substantial step toward exiting the business or a significant part of the business of
the 

  
 26 

 
origination of Residential Mortgage Loans and (II) such Disposition is consistent with the past practices of the Borrower and its Restricted Subsidiaries in terms of transaction size, type
and structure. and (y) with respect to Ginnie Mae buyout loans, in order for a Disposition thereof to have been made in the “Ordinary Course of Business,” the Borrower and its Restricted Subsidiaries shall reinvest the Net Sale
Proceeds thereof in Ginnie Mae buyout loans within six months of the consummation of such Disposition. 
 “Other Hedging
Agreements” shall mean any foreign exchange contracts, currency swap agreements, commodity agreements or other similar arrangements, or arrangements designed to protect against fluctuations in currency values or commodity prices. 

“Other Intercreditor Agreement” shall mean any intercreditor or subordination agreement or arrangement (which may take the
form of a “waterfall” or similar provision), as applicable, the terms of which are reasonably acceptable to the Borrower and the Administrative Agent. 

“Other Taxes” shall mean any and all present or future stamp or documentary taxes, mortgage recording taxes or any other
similar excise or property taxes, charges or levies arising from any payment made under any Credit Document or from the execution, delivery or enforcement of, or otherwise with respect to, any Credit Document, except any such Taxes that are
Connection Taxes imposed with respect to any assignment (other than an assignment made pursuant to Section 2.21). 

“PBGC” shall mean the Pension Benefit Guaranty Corporation established pursuant to Section 4002 of ERISA, or any
successor thereto. 
 “Permitted Acquisition” shall have the meaning assigned to such term in Section 6.05(xii). 

“Permitted Encumbrance” shall mean, with respect to any Mortgaged Property, such exceptions to title as are set forth in the
Mortgage Policy delivered with respect thereto, all of which exceptions must be acceptable to the Administrative Agent in its reasonable discretion. 

“Permitted External Refinancing Debt” shall mean any Indebtedness incurred by the Borrower in the form of one or more series
of unsecured or junior lien loans or unsecured or pari passu or junior secured notes to refinance all or a portion of any existing Class of Term Loans; provided that (i) the final maturity date of any such Indebtedness shall be no
earlier than 91 days following the Latest Maturity Date, (ii) such Indebtedness shall not have a Weighted Average Life to Maturity that is shorter than the Weighted Average Life to Maturity of the Term Loans being refinanced, (iii) in the
case of loans, such Indebtedness shall not provide for any prepayment or amortization terms that are more favorable to the lenders providing such Indebtedness than the corresponding provisions of the Term Loans being refinanced, (iv) in the
case of notes, such Indebtedness shall not provide for any scheduled repayment, mandatory redemption, sinking fund obligations or other payment (other than periodic interest payments) prior to the date that is 91 days following the Latest Maturity
Date, other than customary offers to purchase upon a change of control, asset sale or casualty or condemnation event and customary acceleration rights upon an event of default, (v) such Indebtedness shall be unsecured or may either
(A) solely in the case of notes, be secured by the Collateral on a pari passu basis (but without regard to the control of remedies) with the Obligations, and a Senior Representative acting on behalf of the holders of such Indebtedness
shall have become party to an Other Intercreditor Agreement reflecting the pari passu status of the Liens securing such Indebtedness or (B) be secured by the Collateral on a junior, subordinated lien basis (including with respect to the
control of remedies) to the Obligations, and a Senior Representative acting on behalf of the holders of such Indebtedness shall have become party to (x) if such Indebtedness is secured on a pari passu basis with the Second Lien Senior
Subordinated PIK Toggle Notes, the First Lien/Second Lien Intercreditor Agreement and (y) otherwise, the provisions of an Other Intercreditor Agreement, (vi) if such Indebtedness is secured, such Indebtedness shall not be secured by

  
 27 

 
any property or assets of the Borrower or any Restricted Subsidiary other than Collateral and the collateral documents shall be substantially the same as the applicable Security Documents (with
such changes, including, if applicable, to reflect the junior lien nature thereof and any changes customarily requested by an indenture trustee, as are reasonably satisfactory to the Administrative Agent), (vii) no Person, other than a Credit Party,
shall be an obligor or guarantor in respect of such Indebtedness, (viii) the other terms and conditions of such Indebtedness (excluding pricing, premiums and optional prepayment or redemption terms) are no more favorable (taken as a whole), as
reasonably determined by the Borrower, to the investors providing such Indebtedness than those applicable to the Term Loans being refinanced (except for covenants or other provisions applicable only to periods after the Latest Maturity Date);
provided that in the event such Indebtedness consists of syndicated term loans and the All-in Yield of such Indebtedness exceeds the All-in Yield of the Tranche B
Term Loans, the Borrower shall offer the Tranche B Term Lenders the opportunity to provide such Indebtedness on the same terms being offered, which opportunity must be accepted within ten Business Days of such offer and if not so accepted by any
Tranche B Term Lender within such ten Business Day period shall be deemed to be declined by such Tranche B Term Lender, (ix) the principal amount (or accreted value, if applicable) of such Indebtedness shall not exceed the principal amount (or
accreted value, if applicable) of the Term Loans being refinanced except by an amount equal to any interest capitalized in connection with, any premium or other reasonable amount paid, and fees and expenses reasonably incurred, in connection with
such refinancing and (x) substantially concurrently with the incurrence or issuance of such Indebtedness, 100% of the net cash proceeds thereof shall be applied to repay the refinanced Term Loans, including accrued interest, fees, costs and
expenses relating thereto. Permitted External Refinancing Debt shall include any Registered Equivalent Notes issued in exchange therefor. 

“Permitted Funding Indebtedness” shall mean (i) any Permitted Servicing Advance Facility Indebtedness, (ii) any
Permitted Warehouse Indebtedness, (iii) any Permitted Residual Indebtedness, (iv) any Permitted MSR Indebtedness, (v) any Indebtedness of the type set forth in clauses (i) – (iv) of this definition that is acquired by the
Borrower or any Restricted Subsidiary in connection with a Permitted Acquisition or Servicing Acquisition, (vi) any facility that combines any Indebtedness under clauses (i), (ii), (iii), (iv) or (v) of this definition and (vii) any
Permitted Refinancing of the Indebtedness under clauses (i), (ii), (iii), (iv), (v) or (vi) of this definition and advanced to the Borrower or any Restricted Subsidiary based upon, and secured by, Servicing Advances (and/or reimbursement rights
therefor), mortgage related securities, loans, MSRs, consumer receivables, REO Assets or Residual Interests; provided , however, that the excess (determined as of the most recent date for which internal financial statements are available), if
any, of (x) the amount of any Indebtedness incurred in accordance with this clause (vii) for which the holder thereof has contractual recourse to the Borrower or any Restricted Subsidiary to satisfy claims with respect thereto (excluding
customary carve-out matters such as fraud, misappropriation, breaches of representations and warranties and misapplication) over (y) the aggregate (without duplication of amounts) Realizable Value of the
assets that secure such Indebtedness shall not be Permitted Funding Indebtedness (but shall not be deemed to be a new incurrence, assumption, or sufferance or permission to exist of Indebtedness subject to Section 6.04 except with respect to,
and solely to the extent of, any such excess that exists upon the initial incurrence of such Indebtedness incurred under this clause (vii)). 

“Permitted Funds” shall mean, collectively, (i) any Person electing to be treated as a real estate investment trust
under the Code or any fund (or group of related funds) (which, in each case, may be managed by the Borrower or any Restricted Subsidiary) that has as its primary investment objective (a) the origination or acquisition of Residential Mortgage
Loans (performing or non-performing) or interests therein, including mortgage backed securities and/or (b) the acquisition and/or origination of MSR or interest therein (including excess servicing fee
spread) and (ii) any similarly structured Affiliate or Subsidiary of any of the foregoing. 

  
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 “Permitted Liens” shall have the meaning assigned to such term in
Section 6.01. 
 “Permitted MSR Indebtedness” shall mean MSR Indebtedness; provided that the excess (determined
as of the most recent date for which internal financial statements are available), if any, of (x) the amount of any such MSR Indebtedness for which the holder thereof has contractual recourse to the Borrower or any Restricted Subsidiary to
satisfy claims with respect to such MSR Indebtedness (excluding pursuant to customary carve-out matters such as fraud, misappropriation, breaches of representations and warranties and misapplication) over
(y) the aggregate (without duplication of amounts) Realizable Value of the assets that secure such MSR Indebtedness shall not be Permitted MSR Indebtedness (but shall not be deemed to be a new incurrence, assumption, or sufferance or permission
to exist, of Indebtedness subject to Section 6.04 except with respect to, and solely to the extent of, any such excess that exists upon the initial incurrence of such Indebtedness). The amount of any particular Permitted MSR Indebtedness as of
any date of determination shall be calculated in accordance with GAAP. 
 “Permitted Refinancing” shall mean any
Indebtedness (the “refinancing Indebtedness”) issued in exchange for, or the net proceeds of which are used to refinance, renew, replace, defease, discharge or refund, other Indebtedness (the “refinanced
Indebtedness”); provided that: 
 (a)    the principal amount of such refinancing Indebtedness does not
exceed the principal amount of the refinanced Indebtedness (plus all accrued interest thereon and the amount of all reasonable fees, expenses and premiums incurred in connection with such exchange, refinancing, renewal, replacement, defeasance,
discharge or refunding); 
 (b)    such refinancing Indebtedness has a final maturity date later than the final maturity
date of, and has a Weighted Average Life to Maturity equal to or greater than the Weighted Average Life to Maturity of, the refinanced Indebtedness; 

(c)    the terms of such refinancing Indebtedness (including as to collateral), taken as a whole (as reasonably determined
by the Borrower), are not more restrictive to the Credit Parties than the refinanced Indebtedness (other than with respect to interest rates, fees, premiums and no call periods); 

(d)    no person, other than a Credit Party, shall be an obligor in respect of such refinancing Indebtedness; 

(e)    if the refinanced Indebtedness is subordinated in right of payment or in lien priority to the Obligations, the
refinancing Indebtedness shall be subordinated in right of payment or in lien priority, as applicable, to the Obligations on terms at least as favorable to the Lenders as those contained in the documentation governing the refinanced Indebtedness;

 (f)    no Default or Event of Default shall have occurred and be continuing at the time of such exchange,
refinancing, renewal, replacement, defeasance, discharge or refunding; and 
 (g)    if such refinanced Indebtedness is
secured, the refinancing Indebtedness with respect thereto may only be secured if and to the extent secured by the same assets that secured such refinanced Indebtedness. 

“Permitted Residual Indebtedness” shall mean any Indebtedness of the Borrower or any Restricted Subsidiary under a Residual
Funding Facility; provided that the excess (determined as of the most recent date for which internal financial statements are available), if any of (x) the amount of any such Permitted Residual Indebtedness for which the holder thereof
has contractual recourse to the 

  
 29 

 
Borrower or any Restricted Subsidiary to satisfy claims with respect to such Permitted Residual Indebtedness (excluding pursuant to customary carve-out
matters such as fraud, misappropriation, breaches of representations and warranties and misapplication) over (y) the aggregate (without duplication of amounts) Realizable Value of the assets that secure such Permitted Residual Indebtedness
shall be deemed not to be Permitted Residual Indebtedness (but shall not be deemed to be a new incurrence, assumption, or sufferance or permission to exist of Indebtedness subject to Section 6.04 except with respect to, and solely to the extent
of, any such excess that exists upon the initial incurrence of such Indebtedness). 
 “Permitted Securitization
Indebtedness” shall mean Securitization Indebtedness; provided that (i) in connection with any Securitization, any Warehouse Indebtedness or MSR Indebtedness used to finance the purchase or origination of any receivables subject
to such Securitization is repaid in connection with such Securitization to the extent of the net proceeds received by the Borrower and its Restricted Subsidiaries from the applicable Securitization Entity and (ii) the excess (determined as of
the most recent date for which internal financial statements are available), if any, of (x) the amount of any such Securitization Indebtedness for which the holder thereof has contractual recourse to the Borrower or any Restricted Subsidiary to
satisfy claims with respect to such Securitization Indebtedness (excluding pursuant to customary carve-out matters such as fraud, misappropriation, breaches of representations and warranties and
misapplication) over (y) the aggregate (without duplication of amounts) Realizable Value of the assets that secure such Securitization Indebtedness shall not be Permitted Securitization Indebtedness (but shall not be deemed to be a new
incurrence, assumption or sufferance or permission to exist of Indebtedness subject to Section 6.04 except with respect to, and solely to the extent of, any such excess that exists upon the initial incurrence of such Indebtedness). 

“Permitted Servicing Advance Facility Indebtedness” shall mean any Indebtedness of the Borrower or any Restricted Subsidiary
incurred under a Servicing Advance Facility; provided, however, that the excess (determined as of the most recent date for which internal financial statements are available), if any of (x) the amount of any such Permitted Servicing
Advance Facility Indebtedness for which the holder thereof has contractual recourse to the Borrower or any Restricted Subsidiary to satisfy claims with respect to such Permitted Servicing Advance Facility Indebtedness (excluding pursuant to
customary carve-out matters such as fraud, misappropriation, breaches of representations and warranties and misapplication) over (y) the aggregate (without duplication of amounts) Realizable Value of the
assets that secure such Permitted Servicing Advance Facility Indebtedness shall not be Permitted Servicing Advance Facility Indebtedness (but shall not be deemed to be a new incurrence, assumption or sufferance or permission to exist of Indebtedness
subject to Section 6.04 except with respect to, and solely to the extent of, any such excess that exists upon the initial incurrence of such Indebtedness). 

“Permitted Warehouse Indebtedness” shall mean Warehouse Indebtedness; provided that the excess (determined as of the
most recent date for which internal financial statements are available), if any, of (x) the amount of any such Warehouse Indebtedness for which the holder thereof has contractual recourse to the Borrower or any Restricted Subsidiary to satisfy
claims with respect to such Warehouse Indebtedness (excluding pursuant to customary carve-out matters such as fraud, misappropriation, breaches of representations and warranties and misapplication) over
(y) the aggregate (without duplication of amounts) Realizable Value of the assets that secure such Warehouse Indebtedness shall not be Permitted Warehouse Indebtedness (but shall not be deemed to be a new incurrence, assumption, or sufferance
or permission to exist of Indebtedness subject to Section 6.04 except with respect to, and solely to the extent of, any such excess that exists upon the initial incurrence of such Indebtedness). The amount of any particular Permitted Warehouse
Indebtedness as of any date of determination shall be calculated in accordance with GAAP. 

  
 30 

 “Person” shall mean any individual, partnership, joint venture, firm,
corporation, association, limited liability company, trust or other enterprise or any Governmental Authority. 
 “Petition
Date” shall have the meaning assigned to such term in the Recitals. 
 “Plan” shall mean 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 the Borrower 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. 

“Plan Effective Date” has the meaning assigned to the term “Effective Date” in the Plan of Reorganization. 

“Plan of Reorganization” shall mean that certain Prepackaged Chapter 11 Plan of Reorganization of the Borrower and Affiliate Co-Plan Proponents, dated November 6, 2017, as approved pursuant to the Confirmation Order, in accordance with Section 1129 of the Bankruptcy Code, as amended, supplemented or otherwise modified from time
to time (whether any such further amendment, supplement or other modification is effected through an amendment, supplement or other modification to the Plan of Reorganization itself or through the Confirmation Order) in accordance with the
Bankruptcy Code. 
 “Platform” shall have the meaning assigned to such term in Section 9.01. 

“Pledge Agreement” shall mean the Amended and Restated First Lien Pledge Agreement dated as of the Closing Date among each of
the pledgors from time to time party thereto and the Collateral Agent, substantially in the form of Exhibit B. 
 “Pledge Agreement
Collateral” shall mean all “Collateral” as defined in the Pledge Agreement. 
 “Pledgee” shall have the
meaning assigned to such term in the Pledge Agreement. 
 “Preferred Equity”, as applied to the Equity Interests of any
Person, means Equity Interests of such Person (other than common Equity Interests of such Person) of any class or classes (however designed) that ranks prior, as to the payment of dividends or as to the distribution of assets upon any voluntary or
involuntary liquidation, dissolution or winding up of such Person, to shares of Equity Interests of any other class of such Person. 

“Pre-Petition Credit Agreement” shall have the meaning assigned to such term in the
Recitals. 
 “Pre-Petition Lenders” shall have the meaning assigned to such term in
the Recitals. 
 “Pre-Petition Term Loans” shall have the meaning assigned to such
term in the Recitals. 
 “Pre-Petition Term Loan Obligation” shall have the meaning
assigned to such term in the Recitals. 
 “Prime Rate” shall mean the rate of interest per annum determined from time to
time by Credit Suisse as its prime rate in effect at its principal office in New York City and notified to the Borrower. The prime rate is a rate set by Credit Suisse based upon various factors including Credit Suisse’s costs and desired
return, general economic conditions and other factors, and is used as a reference point for pricing some loans, which may be priced at, above, or below such rate. 

  
 31 

 “Pro Forma Basis” shall mean, in connection with any calculation of compliance
with any financial covenant or financial term, the calculation thereof after giving effect on a pro forma basis to (without duplication) (x) the incurrence, assumption, guarantee, redemption, repayment, retirement or extinguishment of any
Indebtedness (other than (A) revolving Indebtedness, except, in the case of an incurrence, assumption or guarantee, to the extent same is incurred, assumed or guaranteed to refinance other outstanding Indebtedness or to finance a Permitted
Acquisition, any purchase of MSRs, Servicing Advances or servicing rights permitted hereunder or, in the case of a redemption, repayment, retirement or extinguishment, to the extent all commitments under such revolving Indebtedness are permanently
and correspondingly terminated, and (B) any Permitted MSR Indebtedness) after the first day of the relevant Calculation Period or Test Period, as the case may be, as if such Indebtedness had been incurred, assumed, guaranteed, redeemed, repaid,
retired or extinguished (and the proceeds thereof applied) on the first day of such Test Period or Calculation Period, as the case may be) and (y) any Permitted Acquisition, any purchase of MSRs, Servicing Advances or servicing rights permitted
hereunder, entry into a bona fide subservicing agreement in respect of MSRs or any Significant Asset Sale then being consummated (each, a “Subject Transaction”) as well as any other Subject Transaction if consummated after the first
day of the relevant Test Period or Calculation Period, as the case may be, and on or prior to the date of the respective Subject Transaction then being effected, as if each such transaction had been effected on the first day of such Test Period or
Calculation Period, as the case may be with the following rules to apply in connection therewith: 

(i)    all Indebtedness (x) (other than revolving Indebtedness, except to the extent same is incurred,
assumed or guaranteed to refinance other outstanding Indebtedness or to finance a Permitted Acquisition, any purchase of MSRs, Servicing Advances or servicing rights permitted hereunder, and other than Permitted MSR Indebtedness) incurred, assumed
or guaranteed after the first day of the relevant Test Period or Calculation Period (whether incurred, assumed or guaranteed to finance a Permitted Acquisition, any purchase of MSRs, Servicing Advances or servicing rights permitted hereunder, to
refinance Indebtedness or otherwise) shall be deemed to have been incurred, assumed or guaranteed (and the proceeds thereof applied) on the first day of such Test Period or Calculation Period, as the case may be, and remain outstanding through the
date of determination and (y) (other than revolving Indebtedness, except to the extent accompanied by a corresponding permanent commitment reduction) permanently redeemed, repaid, retired or extinguished after the first day of the relevant Test
Period or Calculation Period, as the case may be, shall be deemed to have been retired or redeemed on the first day of such Test Period or Calculation Period, as the case may be, and remain redeemed, repaid, retired or extinguished through the date
of determination; 
 (ii)    all Indebtedness assumed to be outstanding pursuant to preceding clause
(i) shall be deemed to have borne interest at (x) the rate applicable thereto, in the case of fixed rate indebtedness or (y) the rates which would have been applicable thereto during the respective period when same was deemed
outstanding, in the case of floating rate Indebtedness (although interest expense with respect to any Indebtedness for periods while same was actually outstanding during the respective period shall be calculated using the actual rates applicable
thereto while same was actually outstanding); provided that all Indebtedness (whether actually outstanding or deemed outstanding) bearing interest at a floating rate of interest shall be tested on the basis of the rates applicable at the time
the determination is made pursuant to said provisions; and 
 (iii)    whenever pro forma effect is given
to any Subject Transaction, the pro forma calculations shall be made in good faith by an Authorized Officer of the Borrower and, except as set forth in the next sentence, in a manner consistent with Article 11 of Regulation S-X of the Securities Act, as set forth in a certificate of an Authorized Officer of the Borrower (with supporting calculations) delivered to the Administrative Agent. In addition to any adjustments

  
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consistent with Regulation S-X, such certificate may set forth additional pro forma adjustments arising out of factually supportable and identifiable cost
savings or business optimization initiatives (including cost saving synergies) attributable to any such transaction (net of any additional costs associated with such transaction) and expected in good faith to be realized within 12 months following
such transaction, including, but not limited to, (w) reduction in personnel expenses, (x) reduction of costs related to administrative functions, (y) reductions of costs related to leased or owned properties and (z) reductions
from the consolidation of operations and streamlining of corporate overhead (taking into account, for purposes of determining such calculation, any historical financial statements of the business or entities acquired or disposed of, assuming such
transaction and all other such transaction that have been consummated since the beginning of such period, and any Indebtedness or other liabilities repaid or incurred in connection therewith had been consummated and incurred or repaid at the
beginning of such period); provided, that, unless the Administrative Agent shall otherwise agree in its reasonable discretion, the aggregate amount of adjustments made pursuant to this sentence shall at no time exceed 10% of Consolidated
EBITDA prior to giving pro forma effect thereto. 
 “Property” shall mean the Real Property, including the improvements
thereon, or the personal property (tangible and intangible), in either case which are encumbered pursuant to a Securitization Assets. 

“Public Lender” shall have the meaning assigned to such term in Section 9.01. 

“Published LIBO Rate” shall mean, with respect to any Interest Period when used in reference to any Loan or Borrowing: 

(a)    the rate of interest appearing on Reuters Screen LIBOR01 Page (or on any successor or substitute page of such
service, or any successor to such service as determined by the Administrative Agent) as the London interbank offered rate for deposits in Dollars for a term comparable to such Interest Period, at approximately 11:00 a.m. (London time) on the date
which is two Business Days prior to the commencement of such Interest Period (but if more than one rate is specified on such page, the rate will be an arithmetic average of all such rates); and 

(b)    if such rate is not available at such time for any reason, then the “Published LIBO Rate” for such
Interest Period shall be a comparable successor rate approved by the Borrower that is, at such time, broadly accepted by the syndicated loan market for loans denominated in US dollars in lieu of the “Published LIBO Rate” or, if no such
broadly accepted comparable successor rate exists at such time, a successor index rate as the Administrative Agent may determine with the consent of the Borrower and the Required Lenders (such consent not to be unreasonably withheld, delayed or
conditioned and notwithstanding anything in Section 9.08 to the contrary). 
 “Qualified Equity Interests” shall mean
any Equity Interests of the Borrower so long as the terms of any such Equity Interests (or the terms of any security into which it is convertible or for which it is exchangeable) (a) do not contain any maturity, mandatory put, redemption,
repayment, sinking fund or other similar provision (whether as a result of an asset sale, change of control or otherwise), (b) do not require the payment of dividends or distributions that would otherwise be prohibited by the terms of this Agreement
and (c) do not provide that such Equity Interests are or will become convertible into or exchangeable for Indebtedness or any other Equity Interests (other than Qualified Equity Interests), in each case of (a), (b) and (c) before the date
that is one year after the Latest Maturity Date. 
 “Real Property” of any Person shall mean all the right, title and
interest of such Person in and to land, improvements and fixtures, including Leaseholds. 

  
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 “Realizable Value” of an asset shall mean (i) with respect to any REO
Asset, the value realizable upon the disposition of such asset as determined by the Borrower in its reasonable discretion and consistent with customary industry practice and (ii) with respect to any other asset, the lesser of (x) if
applicable, the face value of such asset and (y) the market value of such asset as determined by the Borrower in accordance with the agreement governing the applicable Permitted Servicing Advance Facility Indebtedness, Permitted Warehouse
Indebtedness, Permitted MSR Indebtedness or Permitted Residual Indebtedness, as the case may be (or, if such agreement does not contain any related provision, as determined by senior management of the Borrower in good faith); provided,
however, that the realizable value of any asset described in clause (i) or (ii) above which an unaffiliated third party has a binding contractual commitment to purchase from the Borrower or any Restricted Subsidiaries shall be the minimum
price payable to the Borrower or such Restricted Subsidiary for such asset pursuant to such contractual commitment. 
 “Recovery
Event” shall mean the receipt by the Borrower or any Restricted Subsidiary of any cash insurance proceeds or condemnation awards payable (i) by reason of theft, loss, physical destruction, damage, taking or any other similar event with
respect to any property or assets of the Borrower or any Restricted Subsidiary or (ii) under any policy of insurance required to be maintained under Section 5.03 (excluding, for the avoidance of doubt, business interruption insurance).

 “Reduction” shall mean any fee, loss, charge, expense, cost, accrual or reserve of any kind. 

“Refinanced Term Loans” shall have the meaning assigned to such term in Section 2.27. 

“Refinancing Term Loan Commitment” shall mean the commitment of any Lender, established pursuant to Section 2.27, to
make Refinancing Term Loans to the Borrower. 
 “Refinancing Term Loan Lender” shall mean a Lender with a Refinancing Term
Loan Commitment or an outstanding Refinancing Term Loan. 
 “Refinancing Term Loans” shall mean one or more new Classes of
Term Loans that result from an Additional Credit Extension Amendment in accordance with Section 2.27. 
 “Register”
shall have the meaning assigned to such term in Section 9.04(d). 
 “Registered Equivalent Notes” shall mean, with
respect to any note originally issued in a Rule 144A or other private placement transaction under the Securities Act, substantially identical notes (having the same guarantees) issued in a dollar-for-dollar exchange therefore pursuant to an exchange offer registered with the SEC. 

“Regulation D” shall mean Regulation D of the Board of Governors of the Federal Reserve System as from time to time in effect
and any successor to all or a portion thereof establishing reserve requirements. 
 “Regulation T” shall mean Regulation T
of the Board of Governors of the Federal Reserve System as from time to time in effect and any successor to all or a portion thereof. 

“Regulation U” shall mean Regulation U of the Board of Governors of the Federal Reserve System as from time to time in effect
and any successor to all or a portion thereof. 
 “Regulation X” shall mean Regulation X of the Board of Governors of the
Federal Reserve System as from time to time in effect and any successor to all or a portion thereof. 

  
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 “Regulatory Supervising Organization” shall mean any of (a) the SEC,
(b) FINRA, (c) the New York Stock Exchange, (d) state securities commissions and (e) any other U.S. or foreign governmental or self-regulatory organization, exchange, clearing house or financial regulatory authority of which the
Borrower or any Restricted Subsidiary is a member or to whose rules it is subject. 
 “REIT Subsidiary” shall mean a
Restricted Subsidiary that is intended by the Borrower to qualify as a real estate investment trust under the Code. 
 “Related
Fund” shall mean, with respect to any Lender that is a fund or commingled investment vehicle that invests in bank loans, any other fund that invests in bank loans and is managed or advised by the same investment advisor as such Lender or by
an Affiliate of such investment advisor. 
 “Related Parties” shall mean, with respect to any specified Person, such
Person’s Affiliates and the respective directors, trustees, officers, employees, agents, representatives and advisors of such Person and such Person’s Affiliates. 

“Release” shall mean actively or passively disposing, discharging, injecting, spilling, pumping, leaking, leaching, dumping,
emitting, escaping, emptying, pouring, seeping, migrating or the like, into or upon any land or water or air, or otherwise entering into the environment. 

“REO Assets” of a Person shall mean any real property owned by such Person and acquired as a result of the foreclosure or
other enforcement of a lien on such asset securing a loan, Servicing Advance or other mortgage-related receivables. 
 “Repayment
Date” shall have the meaning given such term in Section 2.11(a). 
 “Reportable Event” shall mean an event
described in Section 4043(c) of ERISA with respect to a Plan that is subject to Title IV of ERISA other than those events as to which the 30-day notice period is waived. 

“Required Lenders” shall mean, at any time, Lenders having Loans, L/C Exposure and unused Commitments representing more than
50% of the sum of all Loans outstanding, L/C Exposure and unused Commitments at such time. The Loans, L/C Exposure and unused Commitments of any Defaulting Lender shall be disregarded in the determination of the Required Lenders at any time. 

“Residential Mortgage Loan” shall mean any residential mortgage loan, manufactured housing installment sale contract and loan
agreement, home equity loan, home improvement loan, consumer installment sale contract or similar loan evidenced by a Residential Mortgage Note, and any installment sale contract, loan contract or chattel paper. 

“Residential Mortgage Note” shall mean a promissory note, bond or similar instrument evidencing indebtedness of an obligor
under a Residential Mortgage Loan, including, without limitation, all related security interests and any and all rights to receive payments due thereunder. 

“Residual Funding Facility” shall mean any funding arrangement with a financial institution or institutions or other lenders
or purchasers under which advances are made to the Borrower or any Restricted Subsidiary secured by Residual Interests. 

  
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 “Residual Interests” shall mean any residual, subordinated, reserve accounts and
retained ownership interest held by the Borrower or a Restricted Subsidiary in Securitization Assets, Securitization Entities, Warehouse Facility Trusts and/or MSR Facility Trusts, regardless of whether required to appear on the face of consolidated
financial statements in accordance with GAAP. 
 “Residual Trust” shall mean any variable interest entity identified as a
“Residual Trust” in the most recently filed Form 10-K or Form 10-Q of the Borrower, as applicable. 

“Restricted” shall mean, when referring to cash or Cash Equivalents of the Borrower or any Restricted Subsidiary, that such
cash or Cash Equivalents (i) appears (or would be required to appear) as “restricted” on a consolidated balance sheet of the Borrower or of any such Restricted Subsidiary (unless such appearance is related to Liens on the Collateral
securing Indebtedness permitted hereunder to be secured by Liens on the Collateral), (ii) are subject to any Lien in favor of any Person other than the Collateral Agent for the benefit of the Secured Creditors and Liens securing Permitted External
Refinancing Debt or (iii) are not otherwise generally available for use by the Borrower or such Restricted Subsidiary. 

“Restricted Subsidiary” shall mean a Subsidiary other than an Unrestricted Subsidiary. 

“Returns” shall have the meaning assigned to such term in Section 3.09. 

“RMS Business” means the reverse mortgage business of the Borrower and its Restricted Subsidiaries and the assets and
liabilities related thereto including reverse subservicing. 
 “RSA” shall mean that certain Amended and Restated
Restructuring Support Agreement, dated as of October 20, 2017 (as amended in accordance with the terms thereof and prior to the date hereof), among the Borrower and the Lenders party thereto. 

“S&P” shall mean Standard & Poor’s Ratings Service, or any successor thereto. 

“SEC” shall have the meaning assigned to such term in Section 5.01(h). 

“Second Lien Senior Subordinated PIK Toggle Notes” shall mean 9.0% Second Lien Senior Subordinated PIK Toggle Notes due 2024,
issued by the Borrower pursuant to the Second Lien Senior Subordinated PIK Toggle Notes Indenture. Unless the context requires otherwise, any reference to the Second Lien Senior Subordinated PIK Toggle Notes shall include any Permitted Refinancing
thereof (and any further Permitted Refinancing thereof). 
 “Second Lien Senior Subordinated PIK Toggle Notes Documents”
shall mean the Second Lien Senior Subordinated PIK Toggle Notes and the Second Lien Senior Subordinated PIK Toggle Notes Indenture (including any guarantee with respect thereto) and the Security Documents (as defined in the Second Lien Senior
Subordinated PIK Toggle Notes Indenture). 
 “Second Lien Senior Subordinated PIK Toggle Notes Indenture” shall mean the
Indenture dated as of the Plan Effective Date, under which the Second Lien Senior Subordinated PIK Toggle Notes were issued, among the Borrower, as issuer, certain of the Subsidiary Guarantors party thereto, as guarantors, and Wilmington Savings
Fund Society, FSB, as trustee and collateral agent, and as amended, restated, supplemented or otherwise modified from time in accordance with the terms hereof. 

“Secured Creditors” shall have the meaning assigned that term in the respective Security Documents. 

  
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 “Securities Act” shall mean the Securities Act of 1933, as amended, and the
rules and regulations promulgated thereunder. 
 “Securitization” shall mean a public or private transfer, sale or
financing of (i) Servicing Advances, (ii) mortgage loans, (iii) installment contracts and/or (iv) other loans and related assets (clauses (i) – (iv) above, collectively, the “Securitization Assets”) by which
the Borrower or any Restricted Subsidiary directly or indirectly securitizes a pool of specified Securitization Assets including, without limitation, any such transaction involving the sale of specified Servicing Advances or mortgage loans to a
Securitization Entity or a Government Sponsored Entity (including a Securitization Entity established by such Government Sponsored Entity). 

“Securitization Assets” has the meaning specified in the definition of “Securitization.” 

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

“Security Agreement” shall mean the Amended and Restated First Lien Security Agreement dated as of the Closing Date, among
the Borrower, certain other Subsidiaries of the Borrower from time to time party thereto and the Collateral Agent, substantially in the form of Exhibit A. 

“Security Agreement Collateral” shall mean all “Collateral” as defined in the Security Agreement. 

“Security Document” shall mean and include each of the Security Agreement, the Pledge Agreement, each Mortgage and, after the
execution and delivery thereof, each Additional Security Document. 
 “Senior Representative” shall mean, with respect to
any Indebtedness, the trustee, administrative agent, collateral agent, security agent or similar agent under the indenture or other agreement pursuant to which such Indebtedness is issued, incurred or otherwise obtained, as the case may be, and each
of their successors in such capacities. 
 “Series A Warrants” shall mean the series A ten year warrants issued by the
Borrower in accordance with the Plan of Reorganization. 

  
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 “Series B Warrants” shall mean the series B ten year warrants issued by the
Borrower in accordance with the Plan of Reorganization. 
 “Servicer and Protective Advance Percentage” shall mean 95.0%
for each fiscal quarter during the fiscal years ending 2017, 2018 and 2019, and 92.0% for each fiscal quarter thereafter. 

“Servicing Acquisition” shall mean an acquisition permitted under this Agreement of MSRs, Servicing Advances or servicing
rights. 
 “Servicing Advance Facility” shall mean any funding arrangement with lenders collateralized in whole or in part
by Servicing Advances (and/or reimbursement rights therefor) under which advances are made to the Borrower or any Restricted Subsidiaries based on such collateral. 

“Servicing Advances” shall mean advances made by the Borrower or any Restricted Subsidiary in its capacity as servicer of any
mortgage-related receivables to fund principal, interest, escrow, foreclosure, insurance, tax or other payments or advances when the borrower on the underlying receivable is delinquent in making payments on such receivable; to enforce remedies,
manage and liquidate REO Assets; or that the Borrower or any Restricted Subsidiary otherwise advances in its capacity as servicer pursuant to any Servicing Agreement. 

“Servicing Agreements” shall mean any servicing agreements (including whole loan servicing agreements for portfolios of whole
mortgage loans), pooling and servicing agreements, interim servicing agreements and other servicing agreements, and any other agreement governing the rights, duties and obligations of either the Borrower or any Restricted Subsidiary, as a servicer,
under such servicing agreements. 
 “Servicing Fee Receivables” shall mean all receivables related to servicing or sub-servicing of loans and REO including base servicing fee, incentives, ancillary fees and deficiency collections. 

“Significant Asset Sale” shall mean each Asset Sale (or series of related Asset Sales) which generates Net Sale Proceeds of
at least $2,500,000. 
 “SPV” shall have the meaning assigned to such term in Section 9.04(i). 

“Statutory Reserves” shall mean a fraction (expressed as a decimal), the numerator of which is the number one and the
denominator of which is the number one minus the aggregate of the maximum reserve percentages (including any marginal, special, emergency or supplemental reserves) expressed as a decimal established by the Board and any other banking authority,
domestic or foreign, to which the Administrative Agent or any Lender (including any branch, Affiliate or other fronting office making or holding a Loan) is subject for Eurocurrency Liabilities (as defined in Regulation D of the Board). Eurodollar
Loans shall be deemed to constitute Eurocurrency Liabilities (as defined in Regulation D of the Board) 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. Statutory Reserves shall be adjusted automatically on and as of the effective date of any change in any reserve percentage. 

“Subject Transaction” has the meaning specified in the definition of “Pro Forma Basis”. 

“Subsidiaries Guaranty” shall mean the Amended and Restated Subsidiaries Guaranty dated as of the Closing Date made by the
Subsidiary Guarantors from time to time party thereto in favor of Credit Suisse, as Administrative Agent for the benefit of the Secured Creditors (as therein defined), substantially in the form of Exhibit E. 

  
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 “Subsidiary” shall mean, as to any Person, (i) any corporation more than
50% of whose stock of any class or classes having by the terms thereof ordinary voting power to elect a majority of the directors of such corporation (irrespective of whether or not at the time stock of any class or classes of such corporation shall
have or might have voting power by reason of the happening of any contingency) is at the time owned by such Person and/or one or more Subsidiaries of such Person and (ii) any partnership, limited liability company, association or other entity
in which such Person and/or one or more Subsidiaries of such Person has more than a 50% equity interest at the time. Unless otherwise qualified, all references to a “Subsidiary” or to “Subsidiaries” in this Agreement shall refer
to a Subsidiary or Subsidiaries of the Borrower. 
 “Subsidiary Guarantor” shall mean each Wholly-Owned Domestic Restricted
Subsidiary (other than the Excluded Subsidiaries) (in each case, whether existing on the Closing Date or established, created or acquired after the Closing Date), unless and until such time as the respective Wholly-Owned Domestic Restricted
Subsidiary is released from all of its obligations under the Subsidiaries Guaranty in accordance with the terms and provisions thereof. As of the Closing Date, Subsidiary Guarantors are listed on Schedule 1.01(b). 

“Taxes” shall mean any and all present or future taxes, levies, imposts, duties, deductions, withholdings imposed by any
Governmental Authority. 
 “Term Borrowing” shall mean a Borrowing comprised of Term Loans. 

“Term Lender” shall mean a Lender with a Commitment or an outstanding Term Loan. 

“Term Loan” shall mean a Tranche B Term Loan, a Refinancing Term Loan or an Extended Term Loan, as applicable. 

“Termination Date” shall have the meaning assigned to such term in Article 5. 

“Test Period” shall mean each period of four consecutive fiscal quarters of the Borrower then last ended, in each case taken
as one accounting period; provided that in the case of determinations of the First Lien Net Leverage Ratio, the Interest Expense Coverage Ratio, the Asset Coverage Ratio A and the Asset Coverage Ratio B pursuant to this Agreement, such
further adjustments (if any) as described in the provisos to such definitions contained herein shall be made to the extent applicable. 

“Tranche B Term Lender” shall mean each Lender that holds a Tranche B Term Loan. 

“Tranche B Term Loan Maturity Date” shall mean June 30, 2022. 

“Tranche B Term Loans” shall mean the term loans made to the Borrower by the Lenders pursuant to the Pre-Petition Credit Agreement and continued by the Lenders pursuant to Section 2.01. The aggregate outstanding principal amount of the Tranche B Term Loans as of the Closing Date is $1,156,500,513.53. 

“Transactions” shall mean, collectively, (a) the execution, delivery and performance by the Credit Parties of the Credit
Documents to which they are a party and the making of the Borrowings hereunder, (b) the issuance of the Second Lien Senior Subordinated PIK Toggle Notes, (c) the issuance of the Convertible Preferred Stock, (d) the issuance of the
Closing Date Warrants, (e) the other transactions contemplated to occur on the Plan Effective Date pursuant to the Plan of Reorganization and (f) the payment of related fees and expenses. 

  
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 “Type”, when used in respect of any Loan or Borrowing, shall refer to the Rate
by reference to which interest on such Loan or on the Loans comprising such Borrowing is determined. For purposes hereof, the term “Rate” shall mean the Adjusted LIBO Rate and the Alternate Base Rate. 

“UCC” shall mean the Uniform Commercial Code as from time to time in effect in the relevant jurisdiction. 

“Uniform Customs” shall have the meaning assigned to such term in Section 9.07. 

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

“Unrestricted” shall mean, when referring to cash or Cash Equivalents of the Borrower or any Restricted Subsidiary, that such
cash or Cash Equivalents are not Restricted. 
 “Unrestricted Subsidiary” shall mean (a) each Subsidiary of the
Borrower listed on Schedule 1.01(c), (b) a Subsidiary of the Borrower designated by the Borrower as an Unrestricted Subsidiary pursuant to Section 5.21 subsequent to the Closing Date and (c) a Subsidiary of an Unrestricted Subsidiary. 

“USA PATRIOT Act” shall mean The Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and
Obstruct Terrorism Act of 2001 (Title III of Pub. L. No. 107-56 (signed into law October 26, 2001)). 

“Warehouse Facility” shall mean any financing arrangement of any kind, including, but not limited to, financing arrangements
in the form of repurchase facilities, loan agreements, note issuance facilities and commercial paper facilities (excluding in all cases, Securitizations), with a financial institution or other lender or purchaser exclusively to (i) finance or
refinance the purchase or origination by the Borrower or a Restricted Subsidiary of, or provide funding to the Borrower or a Restricted Subsidiary through the transfer of, loans, mortgage-related securities and other mortgage-related receivables
purchased or originated by the Borrower or any Restricted Subsidiary of the Borrower in the ordinary course of business, (ii) finance the funding of or refinance Servicing Advances; or (iii) finance or refinance the carrying of REO Assets
related to loans and other mortgage-related receivables purchased or originated by the Borrower or any Restricted Subsidiary; provided that such purchase or origination is in the ordinary course of business. 

“Warehouse Facility Trusts” shall mean any Person (whether or not a Restricted Subsidiary of the Borrower) established for
the purpose of issuing notes or other securities in connection with a Warehouse Facility, which notes and securities are backed by (i) specified loans, mortgage-related securities and other mortgage-related receivables purchased by, and/or
contributed to, such Person from the Borrower or any Restricted Subsidiary; (ii) specified Servicing Advances purchased by, and/or contributed to, such Person from the Borrower or any other Restricted Subsidiary; or (iii) the carrying of
REO Assets related to loans and other mortgage-related receivables purchased by, and/or contributed to, such Person or any Restricted Subsidiary. 

“Warehouse Indebtedness” shall mean Indebtedness in connection with a Warehouse Facility; provided that the amount of
any particular Warehouse Indebtedness as of any date of determination shall be calculated in accordance with GAAP. 

  
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 “Weighted Average Life to Maturity” shall mean, when applied to any Indebtedness
at any date, the number of years obtained by dividing: (a) the sum of the products obtained by multiplying (i) the amount of each then remaining installment, sinking fund, serial maturity or other required payments of principal, including
payment at final maturity, in respect thereof, by (ii) the number of years (calculated to the nearest one-twelfth) that will elapse between such date and the making of such payment; by (b) the then
outstanding principal amount of such Indebtedness; provided that for purposes of determining the Weighted Average Life to Maturity of any Indebtedness that is being modified, refinanced, refunded, renewed, replaced or extended (the
“Applicable Indebtedness”), the effects of any prepayments made on such Applicable Indebtedness prior to the date of the applicable modification, refinancing, refunding, renewal, replacement or extension shall be disregarded. 

“Withdrawal Liability” shall mean liability to a Multiemployer Plan as a result of a complete or partial withdrawal by the
Borrower or an ERISA Affiliate from such Multiemployer Plan, as such terms are defined in Part I of Subtitle E of Title IV of ERISA. 

“Wholly-Owned Domestic Restricted Subsidiary” shall mean, as to any Person, any Wholly Owned Restricted Subsidiary of such
Person which is a Domestic Subsidiary. 
 “Wholly-Owned Foreign Restricted Subsidiary” shall mean, as to any Person, any
Wholly Owned Restricted Subsidiary of such Person which is a Foreign Subsidiary. 
 “Wholly-Owned Restricted Subsidiary”
shall mean a Wholly Owned Subsidiary of the Borrower that is a Restricted Subsidiary. 
 “Wholly-Owned Subsidiary” shall
mean, as to any Person, (i) any corporation 100% of whose capital stock is at the time owned by such Person and/or one or more Wholly-Owned Subsidiaries of such Person, and (ii) any partnership, limited liability company, association,
joint venture or other entity in which such Person and/or one or more Wholly-Owned Subsidiaries of such Person has a 100% equity interest at such time (other than, in the case of a Foreign Subsidiary of the Borrower with respect to the preceding
clauses (i) and (ii), director’s qualifying shares and/or other nominal amount of shares required to be held by Persons other than the Borrower and its Subsidiaries under applicable law). 

“Write-Down and Conversion Powers” shall mean, with respect to any EEA Resolution Authority, the write-down and conversion
powers of such EEA Resolution Authority from time to time under the Bail-In Legislation for the applicable EEA Member Country, which write-down and conversion powers are described in the EU Bail-In Legislation Schedule. 
 Section 1.02    Terms Generally.
The definitions in Section 1.01 shall apply equally to both 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”; and the words “asset” and “property” shall be construed as having 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. All references herein to Articles, Sections, Exhibits and Schedules shall be deemed references to Articles and Sections of, and Exhibits and Schedules to, this Agreement unless the context shall otherwise require. Except as
otherwise expressly provided herein, (a) any reference in this Agreement to any Credit Document shall mean such document as amended, restated, supplemented or otherwise modified from time to time, in each case, in accordance with the express
terms of this Agreement, (b) any reference to any law shall include all statutory and regulatory provisions consolidating, amending, replacing or interpreting such law and any reference to any law or regulation shall, unless otherwise
specified, refer to such law or 

  
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regulation as amended, modified or supplemented from time to time and (c) all terms of an accounting or financial nature shall be construed in accordance with GAAP as in effect from time to
time; provided, however, that if the Borrower notifies the Administrative Agent that the Borrower wishes to amend any covenant in Article 6 or any related definition to eliminate the effect of any change in GAAP occurring after the Closing Date on
the operation of such covenant (or if the Administrative Agent notifies the Borrower that the Required Lenders wish to amend Article 6 or any related definition for such purpose), then the Borrower’s compliance with such covenant shall be
determined on the basis of GAAP in effect immediately before the relevant change in GAAP became effective, until either such notice is withdrawn or such covenant is amended in a manner satisfactory to the Borrower and the Required Lenders.
Notwithstanding anything to the contrary contained herein, all financial covenants contained herein or in any other Credit Document shall be calculated without giving effect to any election under Accounting Standards Codification 825-7-25 or 470-20 (or any similar accounting principle) permitting a Person to value its financial liabilities at the fair value
thereof or at any amount other than the outstanding principal amount thereof. Notwithstanding anything to the contrary in this Agreement or any Credit Document, whenever it is necessary to determine whether a lease is a capital lease or an operating
lease, such determination shall be made on the basis of GAAP as in effect on the Closing Date, notwithstanding any modifications or interpretive changes thereto that may occur thereafter. 

Section 1.03    Classification of Loans and Borrowings. For purposes of this Agreement, Loans
may be classified and referred to by Class (e.g., a “Term Loan”) or by Type (e.g., a “Eurodollar Loan”) or by Class and Type (e.g., a “Eurodollar Term Loan”). Borrowings also may
be classified and referred to by Class (e.g., a “Term Credit Borrowing”) or by Type (e.g., a “Eurodollar Borrowing”) or by Class and Type (e.g., a “Eurodollar Term Credit
Borrowing”). 
 Section 1.04    Designated Senior Indebtedness. The Obligations hereunder
are hereby designated by the Borrower as “Designated Senior Indebtedness” (or similar term) for all purposes of any subordinated indebtedness of the Borrower or any Restricted Subsidiary. 

ARTICLE 2 

THE CREDITS 

Section 2.01    Loans. The parties hereto agree that $1,156,500,513.53 of the
Pre-Petition Term Loans remain outstanding immediately prior to the Closing Date. Subject to and upon the terms and conditions set forth herein on the Closing Date, and pursuant to the Plan of Reorganization,
each Term Lender that is a Pre-Petition Lender is deemed, severally and not jointly, to continue, on the Closing Date, the aggregate principal amount of its Pre-Petition
Term Loans as a like principal amount of Tranche B Term Loans hereunder. On and as of the Closing Date, each Term Lender shall hold a portion of the Tranche B Term Loans in the amount set forth opposite such Term Lender’s name on Schedule
1.01(a). Amounts paid or prepaid in respect of Tranche B Term Loans may not be reborrowed. 

Section 2.02    [Reserved]. 

Section 2.03    [Reserved]. 

Section 2.04    Evidence of Debt; Repayment of Loans. (a) The Borrower hereby unconditionally promises to
pay to the Administrative Agent for the account of each Lender the principal amount of each Term Loan of such Lender as provided in Section 2.11. 

  
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 (b)    Each Lender shall maintain in accordance with its usual practice an
account or accounts evidencing the indebtedness of the Borrower to such Lender resulting from each Loan made by such Lender from time to time, including the amounts of principal and interest payable and paid to such Lender from time to time under
this Agreement. 
 (c)    The Administrative Agent shall maintain accounts in which it will record (i) the amount
of each Loan made hereunder, the Class and Type thereof and, if applicable, the Interest Period applicable thereto, (ii) the amount of any principal or interest due and payable or to become due and payable from the Borrower to each Lender
hereunder and (iii) the amount of any sum received by the Administrative Agent hereunder from the Borrower or any Subsidiary Guarantor and each Lender’s share thereof. 

(d)    The entries made in the accounts maintained pursuant to paragraphs (b) and (c) above shall be prima facie
evidence of the existence and amounts of the obligations therein recorded; provided, however, that the failure of any Lender or the Administrative Agent to maintain such accounts or any error therein shall not in any manner affect the
obligations of the Borrower to repay the Loans in accordance with their terms. 
 (e)    Any Lender may request that
Loans made by it hereunder be evidenced by a promissory note. In such event, the Borrower shall execute and deliver to such Lender a promissory note payable to such Lender and its registered assigns and in a form and substance reasonably acceptable
to the Administrative Agent and the Borrower. Notwithstanding any other provision of this Agreement, in the event any Lender shall request and receive such a promissory note, the interests represented by such note shall at all times (including after
any assignment of all or part of such interests pursuant to Section 9.04) be represented by one or more promissory notes payable to the payee named therein or its registered assigns. 

Section 2.05    Fees. (a) [Reserved]. 

(b)    The Borrower agrees to pay to the Administrative Agent, for its own account, the administrative fees set forth in
the Fee Letter at the times and in the amounts specified therein (the “Fees”). 
 (c)    [Reserved].

 (d)    [Reserved]. 

(e)    All Fees shall be paid on the dates due, in immediately available funds, to the Administrative Agent for
distribution, if and as appropriate, among the Lenders. Once paid, none of the Fees shall be refundable under any circumstances. 

Section 2.06    Interest on Loans. (a) Subject to the provisions of Section 2.07, the Loans
comprising each ABR Borrowing shall bear interest (computed on the basis of the actual number of days elapsed over a year of 365 or 366 days, as the case may be, at all times and calculated from and including the date of such Borrowing to but
excluding the date of repayment thereof) at a rate per annum equal to the Alternate Base Rate plus the Applicable Margin. 

(b)    Subject to the provisions of Section 2.07, the Loans comprising each Eurodollar Borrowing shall bear interest
(computed on the basis of the actual number of days elapsed over a year of 360 days) at a rate per annum equal to the Adjusted LIBO Rate for the Interest Period in effect for such Borrowing plus the Applicable Margin. 

  
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 (c)    Interest on each Loan shall be payable on the Interest Payment Dates
applicable to such Loan except as otherwise provided in this Agreement. The applicable Alternate Base Rate or Adjusted LIBO Rate for each Interest Period or day within an Interest Period, as the case may be, shall be determined by the Administrative
Agent, and such determination shall be conclusive absent manifest error. 
 Section 2.07    Default
Interest. If the Borrower shall default in the payment of any principal of or interest on any Loan or any other amount due hereunder or under any other Credit Document, by acceleration or otherwise, then, until such defaulted amount shall
have been paid in full, to the extent permitted by law, such defaulted amount shall bear interest (after as well as before judgment), payable on demand, (a) in the case of principal, at the rate otherwise applicable to such Loan pursuant to
Section 2.06 plus 2.00% per annum and (b) in all other cases, at a rate per annum (computed on the basis of the actual number of days elapsed over a year of 365 or 366 days, as the case may be, at all times) equal to the rate that would be
applicable to an ABR Loan plus 2.00% per annum. 
 Section 2.08    Alternate Rate of Interest. In the
event, and on each occasion, that on the day two Business Days prior to the commencement of any Interest Period for a Eurodollar Borrowing the Administrative Agent shall have determined that Dollar deposits in the principal amounts of the Loans
comprising such Borrowing are not generally available in the London interbank market, or that the rates at which such Dollar deposits are being offered will not adequately and fairly reflect the cost to the Lenders holding more than 50% in principal
amount of the Loans which are to be included in such Eurodollar Borrowing of making or maintaining such Eurodollar Loans during such Interest Period, or that reasonable means do not exist for ascertaining the Adjusted LIBO Rate, the Administrative
Agent shall, as soon as practicable thereafter, give written or fax notice of such determination to the Borrower and the Lenders. In the event of any such determination, until the Administrative Agent shall have advised the Borrower and the Lenders
that the circumstances giving rise to such notice no longer exist, any request by the Borrower for a Eurodollar Borrowing pursuant to Section 2.10 shall be deemed to be a request for an ABR Borrowing. Each determination by the Administrative
Agent under this Section 2.08 shall be conclusive absent manifest error. 
 Section 2.09    [Reserved]. 

Section 2.10    Conversion and Continuation of Borrowings. The Borrower shall have the right at any
time upon prior irrevocable written notice to the Administrative Agent (a) not later than 12:00 (noon), New York City time, one Business Day prior to conversion, to convert any Eurodollar Borrowing into an ABR Borrowing, (b) not later than
12:00 (noon), New York City time, three Business Days prior to conversion or continuation, to convert any ABR Borrowing into a Eurodollar Borrowing or to continue any Eurodollar Borrowing as a Eurodollar Borrowing for an additional Interest Period,
and (c) not later than 12:00 (noon), New York City time, three Business Days prior to conversion, to convert the Interest Period with respect to any Eurodollar Borrowing to another permissible Interest Period, subject in each case to the
following: 
 (a)    [reserved]; 

(b)    each conversion or continuation shall be made pro rata among the Lenders in accordance with the respective
principal amounts of the Loans comprising the converted or continued Borrowing; 
 (c)    if less than all the
outstanding principal amount of any Borrowing shall be converted or continued, then each resulting Borrowing shall be in an aggregate principal amount that is an integral multiple of $1,000,000 and not less than $5,000,000; 

  
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 (d)    each conversion shall be effected by each Lender and the
Administrative Agent by recording for the account of such Lender the new Loan of such Lender resulting from such conversion and reducing the Loan (or portion thereof) of such Lender being converted by an equivalent principal amount; accrued interest
on any Eurodollar Loan (or portion thereof) being converted shall be paid by the Borrower at the time of conversion; 

(e)    if any Eurodollar Borrowing is converted at a time other than the end of the Interest Period applicable thereto,
the Borrower shall pay, upon demand, any amounts due to the Lenders pursuant to Section 2.16; 
 (f)    any portion
of a Borrowing maturing or required to be repaid in less than one month may not be converted into or continued as a Eurodollar Borrowing; 

(g)    any portion of a Eurodollar Borrowing that cannot be converted into or continued as a Eurodollar Borrowing by
reason of the immediately preceding clause shall be automatically converted at the end of the Interest Period in effect for such Borrowing into an ABR Borrowing; 

(h)    no Interest Period may be selected for any Eurodollar Term Borrowing that would end later than a Repayment Date
occurring on or after the first day of such Interest Period if, after giving effect to such selection, the aggregate outstanding amount of (A) the Eurodollar Term Borrowings with Interest Periods ending on or prior to such Repayment Date and
(B) the ABR Term Borrowings would not be at least equal to the principal amount of Term Borrowings to be paid on such Repayment Date; and 

(i)    upon notice to the Borrower from the Administrative Agent given at the request of the Required Lenders, after the
occurrence and during the continuance of a Default or Event of Default, no outstanding Loan may be converted into, or continued as, a Eurodollar Loan. 

Each notice pursuant to this Section 2.10 shall be irrevocable and shall refer to this Agreement and specify (i) the identity and
amount of the Borrowing that the Borrower requests be converted or continued, (ii) whether such Borrowing is to be converted to or continued as a Eurodollar Borrowing or an ABR Borrowing, (iii) if such notice requests a conversion, the
date of such conversion (which shall be a Business Day) and (iv) if such Borrowing is to be converted to or continued as a Eurodollar Borrowing, the Interest Period with respect thereto. If no Interest Period is specified in any such notice
with respect to any conversion to or continuation as a Eurodollar Borrowing, the Borrower shall be deemed to have selected an Interest Period of one month’s duration. The Administrative Agent shall promptly advise the Lenders of any notice
given pursuant to this Section 2.10 and of each Lender’s portion of any converted or continued Borrowing. If the Borrower shall not have given notice in accordance with this Section 2.10 to continue any Borrowing into a subsequent
Interest Period (and shall not otherwise have given notice in accordance with this Section 2.10 to convert such Borrowing), such Borrowing shall, at the end of the Interest Period applicable thereto (unless repaid pursuant to the terms hereof),
automatically be converted into an ABR Borrowing. 

  
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 Section 2.11    Repayment of Term Borrowings. (a) The
Borrower shall pay to the Administrative Agent, for the account of the Lenders, on (each such date being called a “Repayment Date”) (i) the Closing Date, $37,500,000 and (ii) thereafter in quarterly installments equal to the
amounts listed below (which installments shall be reduced as a result of the application of prepayments as specified in Section 2.13(g)) and each such payment shall be made on the last Business Day of each month as follows: 

 

					
	 Repayment Date
	  	Principal Amount	 
	 March 2018
	  	$	7,500,000	 
	 June 2018
	  	$	7,500,000	 
	 September 2018
	  	$	7,500,000	 
	 December 2018
	  	$	7,500,000	 
	 March 2019
	  	$	10,000,000	 
	 June 2019
	  	$	26,700,000	 
	 September 2019
	  	$	36,700,000	 
	 December 2019
	  	$	36,700,000	 
	 each March, June, September and December thereafter
	  	$	15,000,000	 

 Each payment pursuant to this Section 2.11 shall be made together with accrued and unpaid interest on the
principal amount to be paid to but excluding the date of such payment. 
 In the event any Refinancing Term Loans are made, such Refinancing
Term Loans shall be repaid in amounts and on dates as agreed between the Borrower and the relevant Lenders of such Refinancing Term Loans, subject to the requirements set forth in Section 2.27 and to adjustment from time to time pursuant to
Section 2.12(b), Section 2.13(g) and Section 9.04(l), together in each case, with accrued and unpaid interest on the principal amount to be paid to but excluding the date of such payment. 

(b)    To the extent not previously paid, all Term Loans of any Class shall be due and payable on the Maturity Date
applicable to the Term Loans of such Class, together with accrued and unpaid interest on the principal amount to be paid to but excluding the date of payment. 

(c)    All repayments pursuant to this Section 2.11 shall be subject to Section 2.16, but shall otherwise be
without premium or penalty. 
 Section 2.12    Voluntary Prepayment. (a) The Borrower shall have the
right at any time and from time to time to prepay any Borrowing, in whole or in part, upon at least three Business Days’ prior written or fax notice (or telephone notice promptly confirmed by written or fax notice) in the case of Eurodollar
Loans, or written or fax notice (or telephone notice promptly confirmed by written or fax notice) at least one Business Day prior to the date of prepayment in the case of ABR Loans, to the Administrative Agent before 12:00 (noon), New York City
time; provided, however, that each partial prepayment shall be in an amount that is an integral multiple of $1,000,000 and not less than $5,000,000 in the case of a Term Borrowing. 

(b)    Voluntary prepayments of any Class of Term Loans shall be applied against the remaining scheduled installments
of principal due in respect of the applicable Class of Term Loans under Section 2.11 as may be specified by the Borrower, or if not so specified, in direct order of maturity; provided that such prepayments shall be allocated to the
Tranche B Term Loans on a pro rata basis (or on a greater than pro rata basis) determined by reference to all Term Loans then outstanding. 

  
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 (c)    Each notice of prepayment shall specify the prepayment date and the
principal amount of each Borrowing (or portion thereof) to be prepaid, shall be irrevocable and shall commit the Borrower to prepay such Borrowing by the amount stated therein on the date stated therein; provided, however, that if such
prepayment is for all of the then outstanding Loans, then the Borrower may (x) revoke such notice prior to the proposed date of prepayment and/or (y) extend the prepayment date by not more than five Business Days; provided further,
however, that the provisions of Section 2.16 shall apply with respect to any such revocation or extension. All prepayments under this Section 2.12 shall be subject to Section 2.16 but otherwise without premium or penalty. All
prepayments under this Section 2.12 shall be accompanied by accrued and unpaid interest on the principal amount to be prepaid to but excluding the date of payment. 

Section 2.13    Mandatory Prepayments. (a) [Reserved]. 

(b)    In addition to any other mandatory repayments pursuant to this Section 2.13, on each date on or after the
Closing Date upon which the Borrower or any Restricted Subsidiary receives any cash proceeds from any issuance or incurrence by the Borrower or any Restricted Subsidiary of Indebtedness for borrowed money (other than Indebtedness permitted to be
incurred pursuant to Section 6.04, other than Permitted External Refinancing Indebtedness and Refinancing Term Loans), an amount equal to 100% of the Net Cash Proceeds of the respective issuance or incurrence of such Indebtedness shall be
applied on such date as a mandatory repayment in accordance with the requirements of Section 2.13(g). 

(c)    Unless otherwise agreed by the Required Lenders, in addition to any other mandatory repayments pursuant to this
Section 2.13, on each date upon which the Borrower or any Restricted Subsidiary receives (other than in connection with any Disposition to the Borrower or a Subsidiary Guarantor) any cash proceeds from (i) any Non-Core Asset Sale, an amount equal to 100% of the Net Sale Proceeds therefrom shall be applied on such date as a mandatory repayment in accordance with the requirements of Section 2.13(g), (ii) any
Disposition of (A) any Bulk MSR (other than any such Disposition required by the following clause (iii) hereof) and/or (B) any Asset Sale, in each case, in an amount equal to 80% of the Net Sale Proceeds therefrom shall be applied on
such date as a mandatory repayment in accordance with the requirements of Section 2.13(g), or (iii) any Disposition on or prior to February 15, 2018 of Government Sponsored Entity-related Bulk MSR, an amount equal to the sum of (A)
80% of the gross proceeds therefrom (excluding the proceeds of the Disposition of any related Servicing Advances) and (B) 80% of the Net Sale Proceeds of the Servicing Advances related to the Bulk MSR subject to such Disposition shall be applied on
such date as a mandatory repayment in accordance with the requirements of Section 2.13(g). 
 (d)    In addition to
any other mandatory repayments pursuant to this Section 2.13, on each Excess Cash Flow Payment Date, an amount equal to the remainder of (if positive) (i) the Applicable Excess Cash Flow Prepayment Percentage of the Excess Cash Flow for
the related Excess Cash Flow Payment Period minus (ii) the aggregate amount of principal prepayments of Loans to the extent (and only to the extent) that such prepayments were made as a voluntary prepayment pursuant to Section 2.12(a)
other than with proceeds of asset sales (other than from sales of inventory in the ordinary course of business), sales or issuances of Equity Interests, capital contributions, insurance or condemnation events or Indebtedness or other proceeds that
would not be included in Adjusted Consolidated Net Income during the relevant Excess Cash Flow Payment Period minus (iii) the face value of Term Loans assigned to or purchased by the Borrower pursuant to Section 9.04(l) during the relevant
Excess Cash Flow Payment Period, shall be applied as a mandatory repayment in accordance with the requirements of Section 2.13(g); provided that the amount required to be applied as a mandatory prepayment pursuant to this
Section 2.13(d) for any Excess Cash Flow Payment Period shall not exceed an amount equal to (x) 75% of the Excess Cash Flow for such Excess Cash Flow Payment Period minus (y) scheduled installments of principal due in respect of the Term
Loans under Section 2.11(a) paid during the related 

  
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Excess Cash Flow Payment Period. Notwithstanding the foregoing, at the option of the Borrower, all or any portion of any mandatory repayment required pursuant to this clause (d) for any
Excess Cash Flow Payment Period may be paid or applied prior to the related Excess Cash Flow Payment Date (but no earlier than January 1 of the fiscal year in which the related Excess Cash Flow Payment Date occurs), provided that
(x) no such mandatory repayment shall be added to the aggregate amount of principal prepayments described in subclause (ii) above for any succeeding Excess Cash Flow Payment Period and (y) the Borrower shall pay such additional
amounts (if any) as necessary to pay the full amount of any mandatory repayment required pursuant to this clause (d) no later than the applicable Excess Cash Flow Payment Date (it being understood that if such initial prepayment exceeds such
requirement, such excess shall be treated as a voluntary prepayment pursuant to Section 2.12(a) in the fiscal year in which such prepayment was made). 

(e)    In addition to any other mandatory repayments pursuant to this Section 2.13, within one Business Day following
each date on or after the Closing Date upon which the Borrower or any Restricted Subsidiary receives any cash proceeds from any Recovery Event (other than Recovery Events where the Net Cash Proceeds therefrom do not exceed $250,000), an amount equal
to 100% of the Net Cash Proceeds from such Recovery Event shall be applied on such date as a mandatory repayment in accordance with the requirements of Section 2.13(g); provided, however, that such Net Cash Proceeds shall not be required
to be so applied on such date so long as no Default or Event of Default then exists and the Borrower has delivered a certificate to the Administrative Agent on such date stating that such Net Cash Proceeds shall be reinvested (or contractually
committed to be reinvested pursuant to a written binding agreement with a Person that is not an Affiliate of the Borrower or any Restricted Subsidiary) in the businesses permitted of the Borrower and its Restricted Subsidiaries pursuant to
Section 6.13 within 365 days following the date of the receipt of such Net Cash Proceeds, and provided further, that (I) if all or any portion of such Net Cash Proceeds not required to be so applied pursuant to the preceding proviso
are not so reinvested (or contractually committed to be so reinvested) within 365 days after the date of the receipt of such Net Cash Proceeds (or such earlier date, if any, as the Borrower or the relevant Restricted Subsidiary determines not to
reinvest the Net Cash Proceeds relating to such Recovery Event as set forth above), such remaining portion shall be applied on the last day of such period (or such earlier date, as the case may be) as provided above in this Section 2.13(e)
without regard to the immediately preceding proviso and (II) if all or any portion of such proceeds are not required to be applied on the last day of such 365-day period referred to in clause (I) of this proviso because such amount is
contractually committed to be reinvested and then either (A) subsequent to such date such contract is terminated or expires without such portion being so reinvested or (B) such contractually committed portion is not so reinvested within
180 days after the date of such commitment, such remaining portion, in the case of either of preceding clause (A) or (B), shall be applied as a mandatory repayment as provided above in this Section 2.13(e) without regard to the immediately
preceding proviso. 
 (f)    [Reserved]. 

(g)    Each amount required to be applied pursuant to Section 2.13(b) through Section 2.13(e) in accordance with
this Section 2.13(g) shall be applied pro rata according to the respective outstanding principal amounts of the Term Loans then held by the Term Lenders (except to the extent that any applicable Additional Credit Extension Amendment for any
Class of Term Loans provides that such Term Loans shall be entitled to less than pro rata treatment); provided that any prepayment of Term Loans required as a result of the incurrence of Permitted External Refinancing Indebtedness or
Refinancing Term Loans in respect of any such Class shall be applied solely to such Class. Each such prepayment of the Tranche B Term Loans shall be applied in inverse order of maturity against the remaining scheduled installments of principal
due in respect of the Tranche B Term Loans under Section 2.11(a). Each prepayment of any other Class of Term Loans shall be applied as agreed between the Borrower and the Lenders in respect of such Term Loans. 

  
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 (h)    The Borrower shall deliver to the Administrative Agent, at the time of
each prepayment required under this Section 2.13, (i) a certificate signed by an Authorized Officer of the Borrower setting forth in reasonable detail the calculation of the amount of such prepayment and (ii) at least three Business Days
prior written notice of such prepayment. Each notice of prepayment shall specify the prepayment date, the Type of each Loan being prepaid and the principal amount of each Loan (or portion thereof) to be prepaid. All prepayments of Borrowings under
this Section 2.13 shall be subject to Section 2.16 and, in the case of any prepayment pursuant to Section 2.13(b), but shall otherwise be without premium or penalty, and shall be accompanied by accrued and unpaid interest on the
principal amount to be prepaid to but excluding the date of payment. 
 Section 2.14    Reserve Requirements;
Change in Circumstances. (a) Notwithstanding any other provision of this Agreement, if any Change in Law shall 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 or any Issuing Bank (except any such reserve requirement which is reflected in the Adjusted LIBO Rate), shall subject a Lender to Taxes (other than Indemnified Taxes, Other Taxes and Excluded Taxes) on its
loans, loan principal, letters of credit, commitments or other obligations, or on its deposits, reserves, other liabilities or capital attributable thereto or shall impose on such Lender or such Issuing Bank or the London interbank market any other
condition (other than Taxes) 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 or such Issuing Bank
of making or maintaining any Eurodollar Loan or increase the cost to any Lender or any Issuing Bank of issuing or maintaining any Letter of Credit or to reduce the amount of any sum received or receivable by such Lender or such Issuing Bank
hereunder (whether of principal, interest or otherwise) by an amount deemed by such Lender or such Issuing Bank to be material, then the Borrower will pay to such Lender or such Issuing Bank,, as the case may be, upon demand such additional amount
or amounts as will compensate such Lender or such Issuing Bank,, as the case may be for such additional costs incurred or reduction suffered. 

(b)    If any Lender or any Issuing Bank shall have determined that any Change in Law regarding capital adequacy has or
would have the effect of reducing the rate of return on such Lender’s or such Issuing Bank’s capital or on the capital of such Lender’s or such Issuing Bank’s holding company, if any, as a consequence of this Agreement or the
Loans made to a level below that which such Lender or such Issuing Bank or such Lender’s or such Issuing Bank’s holding company could have achieved but for such Change in Law (taking into consideration such Lender’s or such Issuing
Bank’s policies and the policies of such Lender’s or such Issuing Bank’s holding company with respect to capital adequacy) by an amount deemed by such Lender or such Issuing Bank to be material, then from time to time the Borrower
shall pay to such Lender or such Issuing Bank, as the case may be, such additional amount or amounts as will compensate such Lender or Issuing Bank or such Lender’s or such Issuing Bank’s holding company for any such reduction suffered.

 (c)    A certificate of a Lender or an Issuing Bank setting forth the amount or amounts necessary to compensate such
Lender or such Issuing Bank or its holding company, as applicable, as specified in paragraph (a) or (b) above shall be delivered to the Borrower and shall be conclusive absent manifest error. The Borrower shall pay such Lender or such Issuing
Bank the amount shown as due on any such certificate delivered by it within 10 days after its receipt of the same. 

(d)    Failure or delay on the part of any Lender or any Issuing Bank to demand compensation for any increased costs or
reduction in amounts received or receivable or reduction in return on capital shall not constitute a waiver of such Lender’s or such Issuing Bank’s right to demand such compensation; provided that the Borrower shall not be under any
obligation to compensate any Lender or any Issuing Bank under paragraph (a) or (b) above with respect to increased costs or reductions with respect to any 

  
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period prior to the date that is 180 days prior to such request if such Lender or such Issuing Bank knew or could reasonably have been expected to know of the circumstances giving rise to such
increased costs or reductions and of the fact that such circumstances would result in a claim for increased compensation by reason of such increased costs or reductions; provided further that the foregoing limitation shall not apply to any
increased costs or reductions arising out of the retroactive application of any Change in Law within such 180-day period. The protection of this Section shall be available to each Lender and each Issuing Bank regardless of any possible contention of
the invalidity or inapplicability of the Change in Law that shall have occurred or been imposed. 

Section 2.15    Change in Legality. (a) Notwithstanding any other provision of this Agreement, if any
Change in Law shall make it unlawful for any Lender to make or maintain any Eurodollar Loan or to give effect to its obligations as contemplated hereby with respect to any Eurodollar Loan, then, by written notice to the Borrower and to the
Administrative Agent: 
 (i)    such Lender may declare that Eurodollar Loans will not thereafter (for
the duration of such unlawfulness) be made by such Lender hereunder (or be continued for additional Interest Periods) and ABR Loans will not thereafter (for such duration) be converted into Eurodollar Loans, whereupon any request for a Eurodollar
Borrowing (or to convert an ABR Borrowing to a Eurodollar Borrowing or to continue a Eurodollar Borrowing for an additional Interest Period) shall, as to such Lender only, be deemed a request for an ABR Loan (or a request to continue an ABR Loan as
such for an additional Interest Period or to convert a Eurodollar Loan into an ABR Loan, as the case may be), unless such declaration shall be subsequently withdrawn; and 

(ii)    such Lender may require that all outstanding Eurodollar Loans made by it be converted to ABR Loans,
in which event all such Eurodollar Loans shall be automatically converted to ABR Loans as of the effective date of such notice as provided in paragraph (b) below. 

In the event any Lender shall exercise its rights under (i) or (ii) above, all payments and prepayments of principal that would otherwise have been
applied to repay the Eurodollar Loans that would have been made by such Lender or the converted Eurodollar Loans of such Lender shall instead be applied to repay the ABR Loans made by such Lender in lieu of, or resulting from the conversion of, such
Eurodollar Loans. 
 (b)    For purposes of this Section 2.15, a notice to the Borrower by any Lender shall be
effective as to each Eurodollar Loan made by such Lender, if lawful, on the last day of the Interest Period then applicable to such Eurodollar Loan; in all other cases such notice shall be effective on the date of receipt by the Borrower. 

Section 2.16    Breakage. The Borrower shall indemnify each Lender against any loss or expense that
such Lender may sustain or incur as a consequence of (a) any event, other than a default by such Lender in the performance of its obligations hereunder, which results in (i) such Lender receiving or being deemed to receive any amount on
account of the principal of any Eurodollar Loan prior to the end of the Interest Period in effect therefor, (ii) the conversion of any Eurodollar Loan to an ABR Loan, or the conversion of the Interest Period with respect to any Eurodollar Loan,
in each case other than on the last day of the Interest Period in effect therefor, or (iii) any Eurodollar Loan to be made by such Lender (including any Eurodollar Loan to be made pursuant to a conversion or continuation under
Section 2.10) not being made after notice of such Loan shall have been given by the Borrower hereunder (any of the events referred to in this clause (a) being called a “Breakage Event”) or (b) any default in the
making of any payment or prepayment required to be made hereunder. In the case of any Breakage Event, such loss 

  
 50 

 
shall include an amount equal to the excess, as reasonably determined by such Lender, of (i)its cost of obtaining funds for the Eurodollar Loan that is the subject of such Breakage Event for the
period from the date of such Breakage Event to the last day of the Interest Period in effect (or that would have been in effect) for such Loan over (ii) the amount of interest likely to be realized by such Lender in redeploying the funds
released or not utilized by reason of such Breakage Event for such period. A certificate of any Lender setting forth any amount or amounts which such Lender is entitled to receive pursuant to this Section 2.16 shall be delivered to the Borrower
and shall be conclusive absent manifest error. 
 Section 2.17    Pro Rata Treatment. Subject
to the express provisions of this Agreement which require, or permit, differing payments to be made to Non-Defaulting Lenders as opposed to Defaulting Lenders, and as permitted pursuant to the terms of any
Additional Credit Extension Amendment, as permitted under Section 9.04(l) or required under Section 2.15, each Borrowing, each payment or prepayment of principal of any Borrowing, each payment of interest on the Loans, each reduction of
the Commitments, each conversion of any Borrowing to or continuation of any Borrowing as a Borrowing of any Type and each other payment received by any Lender by exercising any right of setoff, counterclaim or otherwise shall be allocated pro rata
among the Lenders in accordance with their respective applicable Commitments (or, if such Commitments shall have expired or been terminated, in accordance with the respective principal amounts of their outstanding Loans). Each Lender agrees that in
computing such Lender’s portion of any Borrowing to be made hereunder, the Administrative Agent may, in its discretion, round each Lender’s percentage of such Borrowing to the next higher or lower whole Dollar amount. 

Section 2.18    Sharing of Setoffs. Each Lender agrees that if it shall, through the exercise of a
right of banker’s lien, setoff or counterclaim against the Borrower or any other Credit Party, or pursuant to a secured claim under Section 506 of Title 11 of the United States Code or other security or interest arising from, or in lieu
of, such secured claim, received by such Lender under any applicable bankruptcy, insolvency or other similar law or otherwise, or by any other means, obtain payment (voluntary or involuntary) in respect of any Loan or Loans or L/C Disbursement as a
result of which the unpaid principal portion of its Loans and participations in L/C Disbursements shall be proportionately less than the unpaid principal portion of the Loans and participations in L/C Disbursements of any other Lender, it shall be
deemed simultaneously to have purchased from such other Lender at face value, and shall promptly pay to such other Lender the purchase price for, a participation in the Loans and L/C Exposure of such other Lender, so that the aggregate unpaid
principal amount of the Loans and L/C Exposure and participations in Loans and L/C Exposure held by each Lender shall be in the same proportion to the aggregate unpaid principal amount of all Loans and L/C Exposure then outstanding as the principal
amount of its Loans and L/C Exposure prior to such exercise of banker’s lien, setoff or counterclaim or other event was to the principal amount of all Loans and L/C Exposure outstanding prior to such exercise of banker’s lien, setoff or
counterclaim or other event; provided, however, that (i) if any such purchase or purchases or adjustments shall be made pursuant to this Section 2.18 and the payment giving rise thereto shall thereafter be recovered, such purchase
or purchases or adjustments shall be rescinded to the extent of such recovery and the purchase price or prices or adjustment restored without interest, and (ii) the provisions of this Section 2.18 shall not be construed to apply to any
payment made by the Borrower pursuant to and in accordance with the express terms of this Agreement (including any 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 to any assignee or participant, other than, unless such assignment was made pursuant to Section 9.04(l), to the Borrower or any of its Affiliates (it being understood that, unless
such assignment was made pursuant to Section 9.04(l), the provisions of this Section 2.18 shall apply). The Borrower expressly consents to the foregoing arrangements and agree that any Lender holding a participation in a Loan or L/C
Disbursement deemed to have been so purchased may exercise any and all rights of banker’s lien, setoff or counterclaim with respect to any and all moneys owing by the Borrower to such Lender by reason thereof as fully as if such Lender had made
a Loan directly to the Borrower in the amount of such participation. 

  
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 Section 2.19    Payments. (a) The Borrower shall make each
payment (including principal of or interest on any Borrowing or any L/C Disbursement or any Fees or other amounts) hereunder and under any other Credit Document not later than 12:00 (noon), New York City time, on the date when due in immediately
available Dollars, without setoff, defense 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. Each such payment shall be made to the Administrative Agent at its offices at Eleven Madison Avenue, New York, NY 10010. The Administrative Agent shall promptly distribute to each Lender any payments received by the
Administrative Agent on behalf of such Lender. 
 (b)    Except as otherwise expressly provided herein, whenever any
payment (including principal of or interest on any Borrowing or any Fees or other amounts) hereunder or under any other Credit Document shall become due, or otherwise would occur, on a day that is not a Business Day, such payment may be made on the
next succeeding Business Day, and such extension of time shall in such case be included in the computation of interest or Fees, if applicable. 

Section 2.20    Taxes. (a) Any and all payments by or on account of any obligation of the Borrower or any
other Credit Party hereunder or under any other Credit Document shall be made free and clear of and without deduction for any Indemnified Taxes or Other Taxes except as required by law; provided that, if the Borrower or any other Credit Party shall
be required to deduct any Indemnified Taxes or Other Taxes from such payments, then (i) the sum payable shall be increased as necessary so that after making all required deductions for Indemnified Taxes or Other Taxes (including deductions for
Indemnified Taxes or Other Taxes applicable to additional sums payable under this Section) the Administrative Agent, each Lender and each Issuing Bank (as the case may be) receives an amount equal to the sum it would have received had no such
deductions been made, (ii) the Borrower or such Credit Party shall make such deductions and (iii) the Borrower or such Credit Party shall pay the full amount deducted to the relevant Governmental Authority in accordance with applicable
law. 
 (b)    In addition, the Borrower shall pay any Other Taxes to the relevant Governmental Authority in accordance
with applicable law. 
 (c)    (i) Indemnification by the Borrower. The Borrower shall indemnify the
Administrative Agent, each Lender and each Issuing Bank, within 10 days after written demand therefor, for the full amount of any Indemnified Taxes or Other Taxes paid by the Administrative Agent, such Lender or such Issuing Bank, as the case may
be, on or with respect to any payment by or on account of any obligation of the Borrower or any other Credit Party hereunder or under any other Credit Document (including Indemnified Taxes or Other Taxes imposed or asserted on or attributable to
amounts payable under this Section) and any penalties, interest and reasonable expenses arising therefrom or with respect thereto, whether or not such Indemnified Taxes or Other Taxes were correctly or legally imposed or asserted by the relevant
Governmental Authority. A certificate as to the amount of such payment or liability delivered to the Borrower by a Lender or an Issuing Bank, or by the Administrative Agent on behalf of itself, a Lender or an Issuing Bank, shall be conclusive absent
manifest error. 
 (ii)    Indemnification by Lenders. Each Lender shall severally indemnify the
Administrative Agent, within 10 days after demand therefor, for (x) any Indemnified Taxes attributable to such Lender (but only to the extent that the Borrower has not already indemnified the Administrative Agent for such Indemnified Taxes and
without limiting the obligation of the Borrower to do so) (y) any Taxes attributable to such Lender’s failure to comply with the provisions of Section 9.04(f) relating to the maintenance of the Participant Register and (z) any
Excluded Taxes attributable to such Lender, in each case, that are payable or paid by the Administrative Agent in connection with any Credit Document, and any reasonable expenses 

  
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arising therefrom or with respect thereto, whether or not such 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 Credit 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 (c)(ii). 

(d)    As soon as practicable after any payment of Indemnified Taxes or Other Taxes by the Borrower or any other Credit
Party to a Governmental Authority, the Borrower shall deliver to the Administrative Agent the original or a certified copy of a receipt issued by such Governmental Authority evidencing such payment, a copy of the return reporting such payment or
other evidence of such payment reasonably satisfactory to the Administrative Agent. 
 (e)    (i) Any Lender that is
entitled to an exemption from or reduction of withholding tax with respect to payments under this Agreement or any other Credit Document shall deliver to the Borrower (with a copy to the Administrative Agent), at the time or times prescribed by
applicable law or reasonably requested by the Borrower or the Administrative Agent, such properly completed and executed documentation prescribed by applicable law or reasonably requested by the Borrower or the Administrative Agent as will permit
such payments to be made without withholding or at a reduced rate. In addition, any Lender, if requested by the Borrower or the Administrative Agent, shall deliver such other documentation prescribed by law or reasonably requested by the Borrower or
the Administrative Agent as will enable the Borrower or the Administrative Agent to determine whether or not such Lender is subject to any withholding (including backup withholding) or information reporting requirements. Upon the reasonable request
of such Borrower or the Administrative Agent, any Lender shall update any form or certification previously delivered pursuant to this Section 2.20(e). If any form or certification previously delivered pursuant to this Section expires or becomes
obsolete or inaccurate in any respect with respect to a Lender, such Lender shall promptly (and in any event within 10 days after such expiration, obsolescence or inaccuracy) notify such Borrower and the Administrative Agent in writing of such
expiration, obsolescence or inaccuracy and update the form or certification if it is legally eligible to do so. 

(ii)    Without limiting the generality of the foregoing, if the Borrower is a “United States
person” within the meaning of Section 7701(a)(30) of the Code, any Lender with respect to such Borrower shall, if it is legally eligible to do so, deliver to such Borrower and the Administrative Agent (in such number of copies reasonably
requested by such Borrower and the Administrative Agent) on or prior to the date on which such Lender becomes a party hereto, duly completed and executed copies of whichever of the following is applicable: 

(A)    in the case of a Lender that is not a Foreign Lender, IRS Form
W-9 certifying that such Lender is exempt from U.S. federal backup withholding tax; 

(B)    in the case of a Foreign Lender claiming the benefits of an income tax treaty to which the United
States is a party (1) with respect to payments of interest under any Credit Document, IRS Form W-8BEN or W-8BEN-E
establishing an exemption from, or reduction of, U.S. federal withholding Tax pursuant to the “interest” article of such tax treaty and (2) with respect to any other applicable payments under any Credit Document, IRS Form W-8BEN or W-8BEN-E 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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 (C)    in the case of a Foreign Lender for which payments
under any Credit Document constitute income that is effectively connected with such Lender’s conduct of a trade or business in the United States, IRS Form W-8ECI; 

(D)    in the case of a Foreign Lender claiming the benefits of the exemption for portfolio interest under
Section 881(c) of the Code both (1) IRS Form W-8BEN or W-8BEN-E and (2) a certificate to the effect that such
Lender is not (a) a “bank” within the meaning of Section 881(c)(3)(A) of the Code, (b) a “10 percent shareholder” of the Borrower within the meaning of Section 881(c)(3)(B) of the Code (c) a
“controlled foreign corporation” described in Section 881(c)(3)(C) of the Code and (d) conducting a trade or business in the United States with which the relevant interest payments are effectively connected; 

(E)    in the case of a Foreign Lender that is not the beneficial owner of payments made under any Credit
Document (including a partnership or a participating Lender) (1) an IRS Form W-8IMY on behalf of itself and (2) the relevant forms prescribed in clauses (A), (B), (C), (D) and (F) of this
paragraph (e)(ii) that would be required of each such beneficial owner or partner of such partnership if such beneficial owner or partner were a Lender; provided, however, that if the Lender is a partnership and one or more of its partners are
claiming the exemption for portfolio interest under Section 881(c) of the Code, such Lender may provide the certificate described in (D)(2) above on behalf of such partners; or 

(F)    any other form prescribed by law as a basis for claiming exemption from, or a reduction of, U.S.
federal withholding Tax together with such supplementary documentation necessary to enable the Borrower or the Administrative Agent to determine the amount of Tax (if any) required by law to be withheld. 

(G)    If a payment made to a Lender under any Credit Document would be subject to U.S. federal withholding
Tax imposed by FATCA if such Lender were to fail to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b) of the Code, as applicable), such Lender shall deliver to the applicable
withholding agent, at the time or times prescribed by law and at such time or times reasonably requested by such withholding 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 withholding agent as may be necessary for the withholding agent to comply with its obligations under FATCA, to determine that such Lender has or has not complied with such
Lender’s obligations under FATCA or to determine the amount to deduct and withhold from such payment. Solely for purposes of this Section 2.20(e)(iii), “FATCA” shall include any amendments made to FATCA after the date of this
Agreement. 
 (f)    If any party determines, in its sole discretion exercised in good faith, that it has received a
refund of any Taxes as to which it has been indemnified pursuant to this Section 2.20 (including additional amounts pursuant to this Section 2.20), it shall pay to the indemnifying party an amount equal to such refund (but only to the
extent of indemnity payments made under this Section with respect to the Taxes giving rise to such refund), net of all out-of-pocket expenses (including Taxes) of such
indemnified party and without interest (other than any interest paid by the relevant Governmental Authority with respect to such refund). Such indemnifying party, upon the request of such indemnified party, shall repay to such indemnified party the
amount paid over pursuant to this paragraph (f) (plus any penalties, interest or other charges imposed by the relevant Governmental Authority) in the event that such indemnified 

  
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party is required to repay such refund to such Governmental Authority. Notwithstanding anything to the contrary in this paragraph (f), in no event will the indemnified party be required to pay
any amount to an indemnifying party pursuant to this paragraph (f) the payment of which would place the indemnified party in a less favorable net after-Tax position than the indemnified party would have
been in if the Tax subject to indemnification and giving rise to such refund had not been deducted, withheld or otherwise imposed and the indemnification payments or additional amounts with respect to such Tax had never been paid. This paragraph
shall not be construed to require any indemnified party to make available its Tax returns (or any other information relating to its Taxes that it deems confidential) to the indemnifying party or any other Person. 

(g)    For purposes of this Section 2.20, the term “Lender” includes any Issuing Bank. 

(h)    For purposes of determining withholding Taxes imposed under FATCA, from and after the Closing Date, the Borrower
and the Administrative Agent shall treat (and the Lenders hereby authorize the Administrative Agent to treat) this Agreement as not qualifying as a “grandfathered obligation” within the meaning of Treasury Regulation Section 1.1471-2(b)(2)(i). 
 Section 2.21    Assignment of Commitments
Under Certain Circumstances; Duty to Mitigate. (a) In the event (i) any Lender or any Issuing Bank delivers a certificate requesting compensation pursuant to Section 2.14, (ii) any Lender or any Issuing Bank delivers
a notice described in Section 2.15, (iii) the Borrower is required to pay any additional amount to any Lender or any Issuing Bank or any Governmental Authority on account of any Lender or any Issuing Bank pursuant to Section 2.20, (iv) any
Lender refuses to consent to any amendment, waiver or other modification of any Credit Document requested by the Borrower that requires the consent of a greater percentage of the Lenders than the Required Lenders and such amendment, waiver or other
modification is consented to by the Required Lenders, or (v) any Lender becomes a Defaulting Lender, then, in each case, the Borrower may, at its sole expense and effort (including with respect to the processing and recordation fee referred to
in Section 9.04(b)), upon notice to such Lender or such Issuing Bank, as the case may be, and the Administrative Agent, require such Lender or such Issuing Bank to transfer and assign, without recourse (in accordance with and subject to the
restrictions contained in Section 9.04), all of its interests, rights and obligations under this Agreement (or, in the case of clause (iv) above, all of its interests, rights and obligation with respect to the Class of Loans or
Commitments that is the subject of the related consent, amendment, waiver or other modification) to an Eligible Assignee that shall assume such assigned obligations and, with respect to clause (iv) above, shall consent to such requested
amendment, waiver or other modification of any Credit Documents (which assignee may be another Lender, if a Lender accepts such assignment); provided that (x) such assignment shall not conflict with any law, rule or regulation or order
of any court or other Governmental Authority having jurisdiction, (y) the Borrower shall have received the prior written consent of the Administrative Agent, which consents shall not unreasonably be withheld or delayed, and (z) the
Borrower or such assignee shall have paid to the affected Lender or the affected Issuing Bank in immediately available funds an amount equal to the sum of the principal of and interest accrued to the date of such payment on the outstanding Loans or
L/C Disbursements of such Lender or such Issuing Bank, respectively, plus all Fees and other amounts accrued for the account of such Lender or such Issuing Bank hereunder with respect thereto (including any amounts under Sections 2.14 and 2.16);
provided further that, if prior to any such transfer and assignment the circumstances or event that resulted in such Lender’s or such Issuing Bank’s claim for compensation under Section 2.14, notice under Section 2.15 or
the amounts paid pursuant to Section 2.20, as the case may be, cease to cause such Lender or such Issuing Bank to suffer increased costs or reductions in amounts received or receivable or reduction in return on capital, or cease to have the
consequences specified in Section 2.15, or cease to result in amounts being payable under Section 2.20, as the case may be (including as a result of any action taken by such Lender or such Issuing Bank pursuant to paragraph
(b) below), or if such Lender or such Issuing Bank shall waive its right to claim further compensation under Section 2.14 in respect of such 

  
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circumstances or event or shall withdraw its notice under Section 2.15 or shall waive its right to further payments under Section 2.20 in respect of such circumstances or event or shall
consent to the proposed amendment, waiver, consent or other modification, as the case may be, then such Lender or such Issuing Bank shall not thereafter be required to make any such transfer and assignment hereunder. Each Lender and each Issuing
Bank hereby grants to the Administrative Agent an irrevocable power of attorney (which power is coupled with an interest) to execute and deliver, on behalf of such Lender or such Issuing Bank, as the case may be, as assignor, any Assignment and
Acceptance necessary to effectuate any assignment of such Lender’s or such Issuing Bank’s interests hereunder in the circumstances contemplated by this Section 2.21(a). 

(b)    If (i) any Lender or any Issuing Bank shall request compensation under Section 2.14, (ii) any Lender or
any Issuing Bank delivers a notice described in Section 2.15 or (iii) the Borrower is required to pay any additional amount to any Lender or any Issuing Bank or any Governmental Authority on account of any Lender or any Issuing Bank,
pursuant to Section 2.20, then such Lender or such Issuing Bank shall use reasonable efforts (which shall not require such Lender or such Issuing Bank to incur an unreimbursed loss or unreimbursed cost or expense or otherwise take any action
inconsistent with its internal policies or legal or regulatory restrictions or suffer any disadvantage or burden deemed by it to be significant) (x) to file any certificate or document reasonably requested in writing by the Borrower or
(y) to assign its rights and delegate and transfer its obligations hereunder to another of its offices, branches or affiliates, if such filing or assignment would reduce its claims for compensation under Section 2.14 or enable it to
withdraw its notice pursuant to Section 2.15 or would reduce amounts payable pursuant to Section 2.20, as the case may be, in the future. The Borrower hereby agrees to pay all reasonable costs and expenses incurred by any Lender or any
Issuing Bank in connection with any such filing or assignment, delegation and transfer. 

Section 2.22    [Reserved]. 

Section 2.23    [Reserved]. 

Section 2.24    Defaulting Lenders. (a) Notwithstanding anything to the contrary contained in this
Agreement, if any Lender becomes a Defaulting Lender, then, until such time as such Lender is no longer a Defaulting Lender, to the extent permitted by applicable law: 

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

(ii)    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 8 or otherwise) or received by the Administrative Agent from a Defaulting Lender pursuant to Section 9.06 shall be applied at such time or
times as may be determined by the Administrative Agent as follows: first, to the payment of any amounts owing by such Defaulting Lender to the Administrative Agent hereunder; second, as the Borrower may request (so long as no Default
or Event of Default exists), to the funding of any Loan in respect of which such Defaulting Lender has failed to fund its portion thereof as required by this Agreement, as determined by the Administrative Agent; third, if so determined by the
Administrative Agent and the Borrower, to be held in a deposit account and released pro rata in order to satisfy such Defaulting Lender’s potential future funding obligations with respect to Loans under this Agreement; fourth, to the
payment of any amounts owing to the Lenders as a result of any judgment of a court of competent jurisdiction obtained by any Lender against such Defaulting Lender as a result of such Defaulting Lender’s breach of its obligations under this

  
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Agreement; fifth, so long as no Default or Event of Default exists, to the payment of any amounts owing to the Borrower as a result of any judgment of a court of competent jurisdiction
obtained by the Borrower against such Defaulting Lender as a result of such Defaulting Lender’s breach of its obligations under this Agreement and sixth, to such Defaulting Lender or as otherwise directed by a court of competent
jurisdiction. 
 (b)    If the Borrower and the Collateral Agent agree in writing that a Lender is no longer a
Defaulting Lender, the Administrative Agent will so notify the parties hereto, whereupon as of the effective date specified in such notice such Lender will cease to be a Defaulting Lender; provided, that except to the extent otherwise
expressly agreed by the affected parties, no change hereunder from Defaulting Lender to Lender will constitute a waiver or release of any claim of any party hereunder arising from that Lender’s having been a Defaulting Lender. 

Section 2.25    Incremental Facilities. 

(a)    The Borrower may, by written notice to the Administrative Agent from time to time, request Incremental L/C
Commitments in an amount such that, after giving effect thereto, (i) the Aggregate Incremental Amount does not exceed the L/C Cap. Such notice shall set forth (i) the amount of the Incremental L/C Commitments being requested (which shall
be in minimum increments of $100,000 and a minimum amount of $1,000,000) and (ii) the date on which such Incremental L/C Commitments are requested to become effective (which shall not be less than 5 Business Days nor more than 60 days after the
date of such notice (or such shorter periods as the Administrative Agent shall agree)). The Borrower may seek Incremental L/C Commitments from existing Lenders (each of which shall be entitled to agree or decline to participate in its sole
discretion) or any Additional Lender. 
 (b)    It shall be a condition precedent to the effectiveness of any
Incremental L/C Commitment and the issuance of the Letters of Credit that (i) no Default or Event of Default shall have occurred and be continuing immediately prior to or immediately after giving effect to such Incremental L/C Commitment and
(ii) the terms of such Incremental L/C Commitments and the Letters of Credit issued thereunder shall comply with Section 2.25(c). 

(c)    The terms of the Incremental L/C Commitments and the Letters of Credit issued pursuant thereto shall be determined
by the Borrower and the applicable Incremental Issuing Bank and set forth in an Additional Credit Extension Amendment (including any applicable conditions for the issuance of a Letter of Credit); provided that (i) the Incremental L/C
Commitments will rank pari passu in right of payment and with respect to security with the Tranche B Term Loans and none of the obligors or guarantors with respect thereto shall be a Person that is not a Credit Party; provided that the
foregoing shall not prohibit the posting of cash collateral to secure the Letters of Credit issued pursuant to such Incremental L/C Commitments, (ii) any L/C Disbursement may participate on a pro rata basis, greater than pro rata basis or less
than pro rata basis in any voluntary or mandatory prepayments or commitment reductions hereunder, as specified in the applicable Additional Credit Extension Amendment and (iii) the L/C Commitments may be cancelled and/or terminated on a non-pro rata basis with respect to the Term Loans. 
 (d)    In connection with any
Incremental L/C Commitments, the Borrower, the Administrative Agent and each applicable Incremental Issuing Bank shall execute and deliver to the Administrative Agent an Additional Credit Extension Amendment and such other documentation as the
Administrative Agent shall reasonably specify to evidence the Incremental L/C Commitment of each Incremental Issuing Bank. The Administrative Agent shall promptly notify each Lender as to the effectiveness of each Additional Credit Extension
Amendment. Any Additional Credit Extension Amendment may, without consent of any other Lender, effect such amendments to this Agreement and the other Credit Documents 

  
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as may be necessary or appropriate, in the reasonable opinion of the Administrative Agent and the Borrower, to effect the provisions of this Section 2.25, including any amendments as may be
necessary or appropriate in the reasonable opinion of the Administrative Agent and the Borrower in connection with the establishment and implementation of the L/C Commitments and any other technical amendments as may be necessary or appropriate (as
reasonably determined by the Administrative Agent and the Borrower) in connection with the foregoing, in each case on terms consistent with this Section 2.25. 

(e)    This Section 2.25 shall supersede any provisions in Section 2.17 or Section 9.08 to the contrary.

 Section 2.26    Amend and Extend Transactions. 

(a)    The Borrower may, by written notice to the Administrative Agent from time to time, request an extension (each, an
“Extension” and each such notice, an “Extension Request”) of L/C Commitments of a Class (which term, for purposes of this provision, shall also include any tranche of L/C Commitments outstanding hereunder pursuant
to a previous Amend and Extend Transaction) and/or Term Loans of a Class (which term, for purposes of this provision, shall also include any term loans outstanding hereunder pursuant to a previous Amend and Extend Transaction or any Refinancing Term
Loans) to the extended maturity date specified in such notice. Such notice shall set forth (i) the amount of the applicable Class of L/C Commitments and/or Term Loans to be extended (which shall be in minimum increments of $1,000,000 and a
minimum amount of $5,000,000), (ii) the date on which such Extension is requested to become effective (which shall be not less than 10 Business Days nor more than 60 days after the date of such Extension Request (or such longer or shorter periods as
the Administrative Agent shall agree)) and (iii) the relevant Class or Classes of L/C Commitments and/or Term Loans to which the Extension Request relates. Each Lender of the applicable Class shall be offered (an “Extension
Offer”) an opportunity to participate in such Extension on a pro rata basis and on the same terms and conditions as each other Lender of such Class pursuant to procedures established by, or reasonably acceptable to, the Administrative
Agent. If the aggregate principal amount of Term Loans (calculated on the face amount thereof) or L/C Commitments in respect of which Lenders shall have accepted the relevant Extension Offer shall exceed the maximum aggregate principal amount of
Term Loans or L/C Commitments, as applicable, offered to be extended by the Borrower pursuant to such Extension Offer, then the Term Loans or L/C Commitments, as applicable, of Lenders of the applicable Class shall be extended ratably up to
such maximum amount based on the respective principal amounts (but not to exceed actual holdings of record) with respect to which such Lenders have accepted such Extension Offer. 

(b)    It shall be a condition precedent to the effectiveness of any Extension that (i) no Default or Event of
Default shall have occurred and be continuing immediately prior to and immediately after giving effect to such Extension, (ii) the representations and warranties set forth in Article 3 and in each other Credit Document shall be true and correct
in all material respects on and as of the date of such Extension and (iii) the terms of such Extended L/C Commitments and Extended Term Loans shall comply with Section 2.26(c). 

(c)    The terms of each Extension shall be determined by the Borrower and the applicable extending Lender and set forth
in an Additional Credit Extension Amendment; provided that (i) the final maturity date of any Extended Term Loan or Extended L/C Commitment shall be no earlier than the then Latest Maturity Date applicable to the original Term Loans or
L/C Commitments, respectively, at the time of Extension, (ii)(A) there shall be no scheduled amortization of the Extended L/C Commitments, (B) the Weighted Average Life to Maturity of any Extended Term Loans shall be no shorter than the
remaining Weighted Average Life to Maturity of the Term Loans under the applicable Credit Facility not extended pursuant to such Extension Offer and (C) any Extended Term Loans may participate on a pro rata basis or on a less than pro rata
basis (but not on a greater than pro rata basis) in any voluntary or mandatory 

  
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prepayments or commitment reductions hereunder, as specified in the applicable Extension Offer, (iii) the L/C Disbursements pursuant to such Extended L/C Commitments and the Extended Term
Loans will rank pari passu in right of payment and with respect to security with the Term Loans and none of the obligors or guarantors with respect thereto shall be a Person that is not a Credit Party, (iv) the interest
rate margin, rate floors, fees, original issue discounts and premiums applicable to any Extended Term Loans or Extended L/C Commitments (and the letters of credit issued pursuant thereto) shall be determined by the Borrower and the lenders providing
such Extended Term Loans or Extended L/C Commitments, as applicable and (v) to the extent the terms of the Extended Term Loans or the Extended L/C Commitments are inconsistent with the terms set forth herein (except as set forth in clause
(i) through (iv) above), such terms shall be reasonably satisfactory to the Administrative Agent. 
 (d)    In
connection with any Extension, the Borrower, the Administrative Agent and each applicable extending Lender shall execute and deliver to the Administrative Agent an Additional Credit Extension Amendment and such other documentation as the
Administrative Agent shall reasonably specify to evidence the Extension. The Administrative Agent shall promptly notify each Lender as to the effectiveness of each Extension. Any Additional Credit Extension Amendment may, without the consent of any
other Lender, effect such amendments to this Agreement and the other Credit Documents as may be necessary or appropriate, in the reasonable opinion of the Administrative Agent and the Borrower, to implement the terms of any such Extension Offer,
including any amendments necessary to establish Extended Term Loans or Extended L/C Commitments as a new Class or tranche of Term Loans or Incremental L/C Commitments, as applicable, and such other technical amendments as may be necessary or
appropriate in the reasonable opinion of the Administrative Agent and the Borrower in connection with the establishment of such new Class or tranche, in each case on terms not inconsistent with this Section 2.26). 

(e)    In the event that the Administrative Agent determines in its sole discretion that the allocation of Extended Term
Loans of a given Extension Series or the Extended L/C Commitments of a given Extension Series, in each case to a given Lender was incorrectly determined as a result of manifest administrative error, then the Administrative Agent, the Borrower and
such affected Lender may (and hereby are authorized to), in their sole discretion and without the consent of any other Lender, enter into an amendment to this Agreement and the other Credit Documents (each, a “Corrective Extension
Amendment”) within 15 days following the determination of such error, as the case may be, which Corrective Extension Amendment shall (i) provide for the conversion and extension of Term Loans under the existing Term Loan Class or
existing L/C Commitments, as the case may be, in such amount as is required to cause such Lender to hold Extended Term Loans or Extended L/C Commitments (and related letters of credit and L/C Disbursements) of the applicable Extension Series into
which such other Term Loans or L/C Commitments were initially converted, as the case may be, in the amount such Lender would have held had such administrative error not occurred and had such Lender received the minimum allocation of the applicable
Loans or Commitments to which it was entitled under the terms of such Extension Amendment, in the absence of such error, (ii) be subject to the satisfaction of such conditions as the Administrative Agent, the Borrower and such Lender may agree,
and (iii) effect such other amendments of the type (with appropriate reference and nomenclature changes) described in the penultimate sentence of Section 2.26(d). 

(f)    This Section 2.26 shall supersede any provisions in Section 2.17 or Section 9.08 to the contrary.

  
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 Section 2.27    Credit Agreement Refinancing Facilities. 

(a)    The Borrower may, by written notice to the Administrative Agent from time to time, request Refinancing Term Loans to
refinance all or a portion of any existing Class of Term Loans (the “Refinanced Term Loans”) in an aggregate principal amount not to exceed the aggregate principal amount of the Refinanced Term Loans plus any accrued interest,
fees, costs and expenses related thereto (including any original issue discount or upfront fees). Such notice shall set forth (i) the amount of the applicable Refinanced Term Loans (which shall be in minimum increments of $1,000,000 and a
minimum amount of $5,000,000) and (ii) the date on which the applicable Additional Credit Extension Amendment is to become effective (which shall not be less than 10 Business Days nor more than 60 days after the date of such notice (or such
longer or shorter periods as the Administrative Agent shall agree)). The Borrower may seek Refinancing Term Loans from existing Lenders (each of which shall be entitled to agree or decline to participate in its sole discretion) or any Additional
Lender. 
 (b)    It shall be a condition precedent to the effectiveness of each Additional Credit Extension Amendment
and the incurrence of any Refinancing Term Loans thereunder that (i) no Default or Event of Default shall have occurred and be continuing immediately prior to or immediately after giving effect to the incurrence of such Refinancing Term Loans,
(ii) the representations and warranties set forth in Article 3 and in each other Credit Document shall be true and correct in all material respects on and as of the date such Additional Credit Extension Amendment becomes effective and the
Refinancing Term Loans are made, (iii) the terms of the Refinancing Term Loans shall comply with Section 2.27(c) and (iv) substantially concurrently with the incurrence of any such Refinancing Term Loans, 100% of the proceeds thereof
shall be applied to repay the Refinanced Term Loans (including accrued interest, fees and premiums (if any) payable in connection therewith). 

(c)    The terms of any Refinancing Term Loans shall be determined by the Borrower and the applicable lenders providing
such Refinancing Term Loans and set forth in an Additional Credit Extension Amendment; provided that (i) the final maturity date of any Refinancing Term Loans shall not be earlier than 91 days after the maturity or termination date of
the applicable Refinanced Term Loans, (ii) the Weighted Average Life to Maturity of the Refinancing Term Loans shall be no shorter than the remaining Weighted Average Life to Maturity of the Refinanced Term Loans, (iii) the Refinancing
Term Loans will rank pari passu in right of payment and of security with the Revolving Loans and the Term Loans, none of the obligors or guarantors with respect thereto shall be a Person that is not a Credit Party, and such Refinancing Term Loans
shall not be secured by any assets other than the Collateral, (iv) the Refinancing Term Loans may participate on a pro rata basis or on a less than pro rata basis (but not on a greater than pro rata basis) in any voluntary or mandatory
prepayments or commitment reductions hereunder, as specified in the applicable Additional Credit Extension Amendment, (v) the interest rate margin, rate floors, fees, original issue discount and premiums applicable to the Refinancing Term Loans
shall be determined by the Borrower and the applicable lenders providing such Refinancing Term Loans and (vi) to the extent the terms of the Credit Agreement Refinancing Facilities are inconsistent with the terms set forth herein (except as set
forth in clause (i) through (v) above), such terms shall be reasonably satisfactory to the Administrative Agent. 

(d)    In connection with any Refinancing Term Loans incurred pursuant to this Section 2.27, the Borrower, the
Administrative Agent and each applicable Lender or Additional Lender shall execute and deliver to the Administrative Agent an Additional Credit Extension Amendment and such other documentation as the Administrative Agent shall reasonably specify to
evidence such Refinancing Term Loans. The Administrative Agent shall promptly notify each Lender as to the effectiveness of each Additional Credit Extension Amendment. Any Additional Credit Extension Amendment may, without the consent of any other
Lenders, effect such amendments to this Agreement and the other Credit Documents as may be necessary or appropriate, in the reasonable opinion of the Administrative Agent and the Borrower, to effect the provisions of this Section 2.27,
including any amendments necessary to establish the applicable Refinancing Term Loans as a new Class or tranche of Term Loans and such other technical amendments as may be necessary or appropriate in the reasonable opinion of the Administrative
Agent and the Borrower in connection with the establishment of such Classes or tranches (including to 

  
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preserve the pro rata treatment of the refinanced and non-refinanced tranches), in each case on terms consistent with this Section 2.27. The
Administrative Agent and the Lenders hereby agree that the minimum borrowing, pro rata borrowing and pro rata payment requirements contained elsewhere in this Agreement shall not apply to the transactions effected pursuant to the immediately
preceding sentence. 
 (e)    This Section 2.27 shall supersede any provisions in Section 2.17 or
Section 9.08 to the contrary. 
 ARTICLE 3 

REPRESENTATIONS AND WARRANTIES 

In order to induce the Lenders to enter into this Agreement and to make the Loans, the Borrower makes the following representations and
warranties, in each case after giving effect to the Transactions, all of which shall survive the execution and delivery of this Agreement and the Notes and the making of the Loans, with the occurrence of the Closing Date being deemed to constitute a
representation and warranty that the matters specified in this Article 3 are true and correct in all material respects on and as of the Closing Date. 

Section 3.01    Company Status. The Borrower and each of the Restricted Subsidiaries (i) is a duly
organized and validly existing Company in good standing under the laws of the jurisdiction of its organization, (ii) has the Company power and authority to own its property and assets and to transact the business in which it is engaged and
presently proposes to engage and (iii) is duly qualified and is authorized to do business and is in good standing in each jurisdiction where the ownership, leasing or operation of its property or the conduct of its business requires such
qualifications, except to the extent all failures with respect to the foregoing clauses (i) and (ii) (other than, in the case of clauses (i) and (ii), with respect to the Borrower) and (iii) could not, either individually or in the
aggregate, reasonably be expected to have a Material Adverse Effect. 
 Section 3.02    Power and
Authority. Each Credit Party has the Company power and authority to execute, deliver and perform its obligations under each of the Credit Documents to which it is party and, in the case of the Borrower, to borrow hereunder, and has taken
all necessary Company action to authorize the execution, delivery and performance by it of each of such Credit Documents. Each Credit Party has duly executed and delivered each of the Credit Documents to which it is party, and each of such Credit
Documents constitutes its legal, valid and binding obligation enforceable in accordance with its terms, except as enforceability thereof may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting
creditors’ rights generally and by general equitable principles (regardless of whether enforcement is sought by proceedings in equity or at law). 

Section 3.03    No Violation. The execution, delivery and performance of this Agreement and the other
Credit Documents, the borrowings hereunder and the use of the proceeds thereof will not (i) contravene any provision of any law, statute, rule or regulation or any order, writ, injunction or decree of any court or Governmental Authority,
(ii) (x) violate or result in any breach of any of the terms, covenants, conditions or provisions of, or constitute a default under, or give rise to any right to accelerate or to require the prepayment, repurchase of redemption of any
obligation under, or (y) result in the creation or imposition of (or the obligation to create or impose) any Lien (except pursuant to the Security Documents) upon any of the property or assets of any Credit Party or any Restricted Subsidiary
pursuant to the terms of, any indenture, mortgage, deed of trust, credit agreement or loan agreement, or any other agreement, contract or instrument, in each case to which any Credit Party or any Restricted Subsidiary is a party or by which it or
any its property or assets is bound or to which it may be subject or (iii) violate any provision of the certificate or articles of incorporation, certificate of formation, limited liability company agreement or
by-laws (or equivalent organizational documents), as applicable, of any Credit 

  
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Party or any Restricted Subsidiary, except to the extent all violations or contraventions with respect to the foregoing clauses (i) and (ii)(x) could not, either individually or in the
aggregate, reasonably be expected to have a Material Adverse Effect. 
 Section 3.04    Approvals.
Except as could not reasonably be expected to have a Material Adverse Effect, no order, consent, approval, license, authorization or validation of, or filing, recording or registration with (except for (x) those that have otherwise been
obtained or made on or prior to the Closing Date and which remain in full force and effect on the Closing Date and (y) filings which are necessary to perfect the security interests or liens created under the Security Documents), or exemption or
other action by, any Governmental Authority is required to be obtained or made by, or on behalf of, any Credit Party to authorize, or is required to be obtained or made by, or on behalf of, any Credit Party in connection with, the execution,
delivery and performance of any Credit Document or the legality, validity, binding effect or enforceability of any such Credit Document. 

Section 3.05    Financial Statements; Financial Condition; Undisclosed Liabilities. (a) (i) The audited
consolidated balance sheets of the Borrower and its Subsidiaries at December 31, 2014, December 31, 2015 and December 31, 2016 and the related consolidated statements of income and cash flows and changes in stockholder’s equity
of the Borrower for the three fiscal years of the Borrower ended on such dates, in each case furnished to the Administrative Agent for delivery to the Lenders prior to the Closing Date, present fairly in all material respects the consolidated
financial position of the Borrower and its Subsidiaries at the dates of said financial statements and the results of operations for the respective periods covered thereby except as set forth on Schedule 3.05 and (ii) the unaudited consolidated
balance sheet of the Borrower as at September 30, 2017 and the related consolidated statements of income and cash flows and changes in stockholders’ equity of the Borrower for the nine-month period ended on such date, in each case
furnished to the Lenders prior to the Closing Date, present fairly in all material respects the consolidated financial condition of the Borrower and its Subsidiaries at the date of said financial statements and the results of operations for the
respective periods covered thereby, subject to normal year-end adjustments and the absence of footnotes. All such financial statements have been prepared in accordance with GAAP consistently applied except to
the extent provided in the notes to said financial statements and subject, in the case of the unaudited financial statements, to normal year-end audit adjustments and the absence of footnotes. 

(b)    [Reserved]. 

(c)    On and as of the Closing Date, and after giving effect to the Transactions and to all Indebtedness (including the
Loans) being incurred or assumed and Liens created by the Credit Parties in connection therewith, (i) the sum of the fair value of the assets, at a fair valuation on a going concern basis, of the Borrower and its Subsidiaries (taken as a whole)
will exceed the sum of their debts, (ii) the Borrower and its Subsidiaries (taken as a whole) as of the date hereof do not have debts outstanding, and do not intend to incur further debts, beyond their ability to pay such debts as such debts
mature in the ordinary course of business and (iii) the capital of the Borrower and its Subsidiaries (taken as a whole) is not unreasonably small in relation to the business of the Borrower or its Subsidiaries (taken as a whole) contemplated as
of the date hereof. For purposes of this Section 3.05(c), “debt” means any liability on a claim, and “claim” means (a) right to payment, whether or not such a right is reduced to judgment, liquidated, unliquidated,
fixed, contingent, matured, unmatured, disputed, undisputed, legal, equitable, secured, or unsecured or (b) right to an equitable remedy for breach of performance if such breach gives rise to a payment, whether or not such right to an equitable
remedy is reduced to judgment, fixed, contingent, matured, unmatured, disputed, undisputed, secured or unsecured. 

  
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 (d)    Except as reflected in the financial statements delivered pursuant to
Section 3.05(a), and except for the Indebtedness incurred under this Agreement or otherwise incurred in the ordinary course of business, there were as of the Closing Date no liabilities or obligations that would be required to be reflected in
the consolidated financial statements of the Borrower and its Subsidiaries by GAAP with respect to the Borrower or any of its Subsidiaries of any nature whatsoever (whether absolute, accrued, contingent or otherwise and whether or not due) which,
either individually or in the aggregate, could reasonably be expected to have a Material Adverse Effect. 

(e)    [Reserved]. 

(f)    After giving effect to the Transactions, since the Closing Date, there has been no change in the business,
operations, property, assets or financial condition of the Borrower or any of its Restricted Subsidiaries that either, individually or in the aggregate, has had, or could reasonably be expected to have, a Material Adverse Effect. 

Section 3.06    Litigation. Except as set forth on Schedule 3.06, there are no actions, suits or
proceedings at law or in equity pending or, to the Knowledge of the Borrower, threatened (i) with respect to any Credit Document or (ii) that has had, or could reasonably be expected to have, either individually or in the aggregate, a
Material Adverse Effect. 
 Section 3.07    True and Complete Disclosure. All written information
(taken as a whole) (including, without limitation, all information contained in the Credit Documents) for purposes of or in connection with this Agreement, the other Credit Documents or any transaction contemplated herein or therein is, and all
other such factual information (taken as a whole) hereafter furnished by or on behalf of the Borrower in writing to the Administrative Agent or any Lender will be, complete and correct in all material respects on the date as of which such
information is dated or certified and does not or will not contain any untrue statement of a material fact or omit a material fact necessary to make such information (taken as a whole) not misleading in any material respect at such time in light of
the circumstances under which such information was provided (giving effect to all supplements and updates provided thereto prior to the Closing Date); provided that no representation is made with respect to information of a general economic
or general industry nature. 
 Section 3.08    Use of Proceeds; Margin Regulations. (a) All proceeds of
the Loans will be used by the Borrower only for the purposes specified in the introductory statement to the Agreement. 

(b)    No part of any Loan (or the proceeds thereof) will be used to purchase or carry any Margin Stock or to extend
credit for the purpose of purchasing or carrying any Margin Stock. Neither the making of any Loan nor the use of the proceeds thereof will, whether directly or indirectly, and whether immediately, incidentally or ultimately, violate or be
inconsistent with the provisions of Regulation T, U or X. 
 Section 3.09    Tax Returns and Payments.
Except as set forth on Schedule 3.09, (i) the Borrower and each of the Restricted Subsidiaries has timely filed or caused to be timely filed with the appropriate taxing authority all material federal, state, local and foreign returns,
statements, forms and reports for taxes (the “Returns”) required to be filed by, or with respect to the income, properties or operations of, the Borrower and/or any Restricted Subsidiary, (ii) the Borrower and each of the
Restricted Subsidiaries has paid all material taxes and assessments payable by it which have become due, other than those that are being contested in good faith and adequately disclosed and fully provided for on the financial statements of the
Borrower and the Restricted Subsidiaries in accordance with GAAP and (iii) except as could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect, there is no action, suit, proceeding, investigation,
audit or claim now pending or, to the Knowledge of the Borrower or any Restricted Subsidiary, threatened by any authority regarding any taxes relating to the Borrower or any Restricted Subsidiary. 

  
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 Section 3.10    Compliance with ERISA. Each Plan is in
compliance in all material respects with the applicable provisions of ERISA and the Code except for non-compliance which, in the aggregate, would not have a Material Adverse Effect. No ERISA Event has occurred
within the past five years or is reasonably expected to occur that, when taken together with all other ERISA Events that have occurred or are reasonably likely to occur, could reasonably be expected to have a Material Adverse Effect. 

Section 3.11    Security Documents. (a) The provisions of the Security Agreement are effective to create
in favor of the Collateral Agent for the benefit of the Secured Creditors a legal, valid and enforceable security interest in all right, title and interest of the Credit Parties in the Security Agreement Collateral described therein, and the
Collateral Agent, for the benefit of the Secured Creditors, has a fully perfected security interest in all right, title and interest in all of the Security Agreement Collateral described therein to the extent required thereunder (other than
(i) any Security Agreement Collateral consisting of cash not contained in a deposit account or securities account not subject to the “control” (as defined under the UCC) of the Collateral Agent, (ii) any Security Agreement
Collateral consisting of deposit accounts not subject to the “control” (as defined under the UCC) of the Collateral Agent and (iii) any other Security Agreement Collateral to the extent perfection steps are not required to be taken
pursuant to the Security Agreement with respect to such Security Agreement Collateral), subject to no other Liens other than Permitted Liens. The recordation of (x) the Grant of Security Interest in U.S. Patents, if applicable and (y) the
Grant of Security Interest in U.S. Trademarks, if applicable, in the respective form attached to the Security Agreement, in each case in the United States Patent and Trademark Office, together with filings on Form
UCC-1 made pursuant to the Security Agreement, will create, as may be perfected by such filings and recordation, a perfected security interest in the United States trademarks and patents covered by the
Security Agreement, and the recordation of the Grant of Security Interest in U.S. Copyrights, if applicable, in the form attached to the Security Agreement with the United States Copyright Office, together with filings on Form UCC-1 made pursuant to the Security Agreement, will create, as may be perfected by such filings and recordation, a perfected security interest in the United States copyrights covered by the Security Agreement. 

(b)    The security interests created under the Pledge Agreement in favor of the Collateral Agent, as Pledgee, for the
benefit of the Secured Creditors, constitute perfected security interests in the Pledge Agreement Collateral described in the Pledge Agreement, subject to no security interests of any other Person, other than Liens in favor of holders of Permitted
External Refinancing Debt and any Permitted Refinancing thereof. 
 (c)    After the execution, delivery and recordation
thereof, in the offices specified on Schedule 3.11(c), or, if delivered pursuant to Section 5.12, in the recording office specified by Borrower, each Mortgage will create, as security for the obligations purported to be secured thereby, a valid
and enforceable perfected security interest in and mortgage lien on all right, title and interest of the Credit Parties in and to the respective Mortgaged Property (to the extent such Mortgaged Property constitutes real property or any interest in
real property) in favor of the Collateral Agent (or such other trustee as may be required or desired under local law) for the benefit of the Secured Creditors, superior and prior to the rights of all third Persons (except that the security interest
and mortgage lien created on such Mortgaged Property may be subject to the Permitted Encumbrances related thereto) and subject to no other Liens (other than Permitted Encumbrances related thereto). 

Section 3.12    Properties. All Real Property (other than REO Assets) owned by a Credit Party as of the
Closing Date, with a book value as of September 30, 2017 of at least $5,000,000, is set forth on Schedule 3.12. Except as set forth on Schedule 3.12, the Borrower and each of the Restricted Subsidiaries has a valid and marketable title to all
material properties (and to all buildings, fixtures and improvements located thereon) owned by it, and a valid leasehold interest in the material properties leased by it, in each case free and clear of all Liens other than Permitted Liens. 

  
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 Section 3.13    Capitalization. The authorized Equity
Interests of the Borrower consists solely of Qualified Equity Interests. All outstanding Equity Interests of the Borrower have been duly and validly issued, are fully paid and non-assessable and have been
issued free of preemptive rights. 
 Section 3.14    Subsidiaries. On and as of the Closing Date,
(a) the Borrower has no Subsidiaries other than those Subsidiaries listed on Schedule 3.14 and (b) Schedule 3.14 sets forth the percentage ownership (direct and indirect) of the Borrower in each class of Equity Interests of each of its
Subsidiaries and also identifies the direct owner thereof. All outstanding Equity Interests of each Subsidiary of the Borrower have been duly and validly issued and are fully paid (except as such rights may arise under mandatory provisions of
applicable statutory law that may not be waived or otherwise agreed) and have been issued free of preemptive rights, and no Subsidiary of the Borrower has outstanding any securities convertible into or exchangeable for its Equity Interests or
outstanding any right to subscribe for or to purchase, or any options or warrants for the purchase of, or any agreement providing for the issuance (contingent or otherwise) of or any calls, commitments or claims of any character relating to, its
Equity Interests or any stock appreciation or similar rights except as set forth on Schedule 3.14. 

Section 3.15    Compliance with Statutes, Etc. The Borrower and each of the Restricted
Subsidiaries is in compliance with all applicable statutes, regulations and orders of, and all applicable restrictions imposed by, all Governmental Authorities in respect of the conduct of its business and the ownership of its property (including,
without limitation, applicable statutes, regulations, orders and restrictions relating to environmental standards and controls), except such non-compliances as could not, either individually or in the
aggregate, reasonably be expected to have a Material Adverse Effect. 
 Section 3.16    Investment Company
Act. Neither the Borrower nor any Restricted Subsidiary is required to register as an “investment company”, or is subject to regulation, under the Investment Company Act of 1940, as amended. 

Section 3.17    Insurance. Schedule 3.17 sets forth a listing of all material insurance maintained by
the Borrower and the Restricted Subsidiaries as of the Closing Date, with the amounts insured (and any deductibles) set forth therein. As of the Closing Date, such insurance is in full force and effect and all premiums have been duly paid. The
Borrower and the Restricted Subsidiaries have insurance in such amounts and covering such risks and liabilities as are in accordance with normal industry practice. 

Section 3.18    Environmental Matters. (a) The Borrower and each of its Subsidiaries is and has been in
compliance with all applicable Environmental Laws and the requirements of any permits issued under such Environmental Laws. There are no pending or, to the Knowledge of the Borrower, threatened Environmental Claims against the Borrower or any of its
Subsidiaries or any Real Property owned, leased or operated by the Borrower or any of its Subsidiaries (including any such claim arising out of the ownership, lease or operation by the Borrower or any of its Subsidiaries of any Real Property
formerly owned, leased or operated by the Borrower or any of its Subsidiaries). To the Knowledge of the Borrower there are no facts, circumstances, conditions or occurrences with respect to the Borrower or any of its Subsidiaries, or any Real
Property owned, leased or operated by the Borrower or any of its Subsidiaries (including any Real Property formerly owned, leased or operated by the Borrower or any of its Subsidiaries) or any other property that could be reasonably expected
(i) to form the basis of any liability under Environmental Law or an Environmental Claim against the Borrower or any of its Subsidiaries or any such Real Property owned, leased or operated by the Borrower or any of its Subsidiaries or
(ii) to cause any Real Property owned, leased or operated by the Borrower or any of its Subsidiaries to be subject to any restrictions on the ownership, lease, occupancy, use or transferability of such Real Property by the Borrower or any of
its Subsidiaries under any applicable Environmental Law. 

  
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 (b)    Hazardous Materials have not at any time been generated, used, treated
or stored on, or transported to or from, or Released on, to, or from, any Real Property presently or formerly owned, leased or operated by the Borrower or any of its Subsidiaries or, to the Knowledge of the Borrower, any other property, where such
generation, use, treatment, storage, transportation or Release has violated or could be reasonably expected to violate any applicable Environmental Law or give rise to an Environmental Claim or any liability under Environmental Law. 

(c)    Notwithstanding anything to the contrary in this Section 3.18, the representations and warranties made in this
Section 3.18 shall be untrue only if the effect of any or all facts, circumstances, occurrences, conditions, violations, claims, restrictions, failures, liabilities or noncompliances of the types described above could, either individually or in
the aggregate, reasonably be expected to have a Material Adverse Effect. 
 Section 3.19    Employment and Labor
Relations. Neither the Borrower nor any Restricted Subsidiary is engaged in any unfair labor practice that could reasonably be expected, either individually or in the aggregate, to have a Material Adverse Effect. There is (i) no
unfair labor practice complaint pending against the Borrower or any Restricted Subsidiary or, to the Knowledge of the Borrower, threatened against any of them, before the National Labor Relations Board, and no grievance or arbitration proceeding
arising out of or under any collective bargaining agreement is so pending against the Borrower or any Restricted Subsidiary or, to the Knowledge of the Borrower, threatened against any of them, (ii) no strike, labor dispute, slowdown or
stoppage pending against the Borrower or any Restricted Subsidiary or, to the Knowledge of the Borrower, threatened against the Borrower or any Restricted Subsidiary, (iii) no union representation question exists with respect to the employees
of the Borrower or any Restricted Subsidiary, (iv) no equal employment opportunity charges or other claims of employment discrimination are pending or, to the Knowledge of the Borrower, threatened against the Borrower or any Restricted
Subsidiary and (v) no wage and hour department investigation has been made of the Borrower or any Restricted Subsidiary, except (with respect to any matter specified in clauses (i) – (v) above, either individually or in the aggregate) such
as could not reasonably be expected to have a Material Adverse Effect. 
 Section 3.20    Intellectual
Property, Etc. The Borrower and each of the Restricted Subsidiaries owns or has the right to use all the patents, permits, trademarks, domain names, service marks, trade names, copyrights, licenses, franchises, inventions,
trade secrets, proprietary information and know-how of any type, whether or not written (including, but not limited to, rights in computer programs and databases) and formulas, or rights with respect to the
foregoing, necessary for the present conduct of its business, without any known conflict with the rights of others which, or the failure to own or have which, as the case may be, could reasonably be expected, either individually or in the aggregate,
to have a Material Adverse Effect. 
 Section 3.21    Indebtedness. Schedule 3.21 sets forth a list of all
Indebtedness (including Contingent Obligations, but excluding intercompany Indebtedness solely between or among the Credit Parties and Indebtedness that is otherwise permitted under this Agreement (other than under Section 6.04(ii)) (it being
understood that the representation set forth in this Section 3.21 shall not be deemed to be incorrect to the extent that Indebtedness in an aggregate amount not exceeding $10,000,000 is not reflected on Schedule 3.21)) of the Borrower and the
Restricted Subsidiaries as of the Closing Date and which is to remain outstanding after giving effect to the Transactions (excluding the Loans, the “Existing Indebtedness”), in each case showing the aggregate principal amount
thereof and the name of the respective borrower and any Credit Party or any Restricted Subsidiary which directly or indirectly guarantees such debt. 

  
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 Section 3.22    Anti-Terrorism Law. (a) Neither the Borrower
nor any Restricted Subsidiary is in violation of any legal requirement relating to any laws with respect to terrorism or money laundering (“Anti-Terrorism Laws”), including Executive Order No. 13224 on Terrorist Financing
effective September 24, 2001 (the “Executive Order”) and the USA PATRIOT Act. Neither the Borrower nor any Restricted Subsidiary and, to the Knowledge of the Borrower, no agent of the Borrower or any Restricted Subsidiary
acting on behalf of the Borrower or any Restricted Subsidiary or any director, officer, employee or Affiliate of the Borrower or any of its Restricted Subsidiaries, as the case may be, is any of the following: 

(i)    a Person that is listed in the annex to, or is otherwise subject to the provisions of, the Executive
Order; 
 (ii)    a Person owned or controlled by, or acting for or on behalf of, any Person that is
listed in the annex to, or is otherwise subject to the provisions of, the Executive Order; 
 (iii)    a
Person with which any Lender is prohibited from dealing or otherwise engaging in any transaction by any Anti-Terrorism Law; 

(iv)    a Person that commits, threatens or conspires to commit or supports “terrorism” as
defined in the Executive Order; or 
 (v)    a Person that is named as a “specially designated
national and blocked person” on the most current list published by the U.S. Treasury Department Office of Foreign Assets Control (“OFAC”) at its official website or any replacement website or other replacement official
publication of such list. 
 (b)    Neither the Borrower nor any of the Restricted Subsidiaries and, to the Knowledge of
the Borrower, no agent of the Borrower or any Restricted Subsidiary acting on behalf of the Borrower or any Restricted Subsidiary, as the case may be, (i) conducts any business or engages in making or receiving any contribution of funds, goods
or services to or for the benefit of a Person described in Section 3.22(a), (ii) deals in, or otherwise engages in any transaction relating to, any property or interests in property blocked pursuant to the Executive Order, or (iii) engages
in or conspires to engage in any transaction that evades or avoids, or has the purpose of evading or avoiding, or attempts to violate, any of the prohibitions set forth in any Anti-Terrorism Law. 

(c)    The Borrower will not directly or indirectly use the proceeds of the Loans or otherwise make available such
proceeds to any Person, for the purpose of financing the activities of any Person currently subject to any U.S. sanctions administered by OFAC. 

Section 3.23    [Reserved]. 

Section 3.24    [Reserved]. 

Section 3.25    [Reserved]. 

Section 3.26    Foreign Corrupt Practices Act. The Borrower, each Restricted Subsidiary and each of
their directors, officers, agents, employees, and any person acting for or on behalf of the Borrower or any Restricted Subsidiary has complied with, and will comply with, the U.S. Foreign Corrupt Practices Act, as amended from time to time, or any
other applicable anti-bribery or anti-corruption law, and it and they have not made, offered, promised, or authorized, and will not make, offer, promise, or authorize, whether directly or indirectly, any payment, of anything of value to: (i) an
executive, official, employee or 

  
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agent of a governmental department, agency or instrumentality, (ii) a director, officer, employee or agent of a wholly or partially government-owned or -controlled company or business,
(iii) a political party or official thereof, or candidate for political office, or (iv) an executive, official, employee or agent of a public international organization (e.g., the International Monetary Fund or the World Bank)
(“Government Official”); while knowing or having a reasonable belief that all or some portion will be used for the purpose of: (a) influencing any act, decision or failure to act by a Government Official in his or her official
capacity, (b) inducing a Government Official to use his or her influence with a government or instrumentality to affect any act or decision of such government or entity, or (c) securing an improper advantage; in order to obtain, retain, or
direct business. 
 ARTICLE 4 

CONDITIONS OF LENDING 

Section 4.01    Conditions Precedent. The obligations of the Lenders to make Loans hereunder are
subject to the satisfaction of the following conditions on the Closing Date: 
 (a)    The Administrative Agent shall
have received, on behalf of itself and the Lenders, a favorable written opinion of (i) Weil, Gotshal & Manges LLP, counsel for the Borrower, and (ii) each counsel listed on Schedule 4.02(a), each such opinion to be in form and
substance reasonably satisfactory to the Administrative Agent, in each case (A) dated the Closing Date, (B) addressed to the Administrative Agent and the Lenders, and (C) covering such matters relating to the Credit Documents and the
Transactions as the Administrative Agent shall reasonably request, and the Borrower hereby requests such counsel to deliver such opinions. 

(b)    The Administrative Agent shall have received (i) a copy of the certificate or articles of incorporation or
other equivalent formation document, including all amendments thereto, of each Credit Party, certified as of a recent date by the Secretary of State (or other similar official) of the state of its organization, and a certificate as to the good
standing of each Credit Party as of a recent date, from such Secretary of State; (ii) a certificate of the Secretary or Assistant Secretary of each Credit Party dated the Closing Date and certifying (A) that attached thereto is a true and
complete copy of the by-laws, partnership agreement, limited liability company agreement, memorandum and articles of association or other equivalent governing document of such Credit Party as in effect on the
Closing Date and at all times since a date prior to the date of the resolutions described in clause (B) below, (B) that attached thereto is a true and complete copy of resolutions duly adopted by the Board of Directors (or equivalent governing
body) of such Credit Party authorizing the execution, delivery and performance of the Credit Documents to which such Person is a party and, in the case of the Borrower, the borrowings hereunder, and that such resolutions have not been modified,
rescinded or amended and are in full force and effect on the Closing Date, (C) that the certificate or articles of incorporation or other equivalent formation document of such Credit Party has not been amended since the date of the last
amendment thereto furnished pursuant to clause (i) above, and (D) as to the incumbency and specimen signature of each officer executing any Credit Document or any other document delivered in connection herewith on behalf of such Credit
Party; and (iii) the certificate referred to in the foregoing clause (ii) shall contain a certification by an Authorized Officer of such Credit Party as to the incumbency and specimen signature of the Secretary or Assistant Secretary
executing such certificate pursuant to clause (ii) above. 
 (c)    The Administrative Agent shall have received a
certificate, dated the Closing Date and signed by an Authorized Officer of the Borrower, confirming compliance with the conditions precedent set forth in clauses (h) and (i) of this Section 4.01. 

  
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 (d)    The Administrative Agent and each Lender shall have received all Fees
and other amounts due and payable on or prior to the Closing Date, including, to the extent invoiced, reimbursement or payment of all out of pocket expenses required to be reimbursed or paid by the Borrower hereunder, under any other Credit Document
or under the Fee Letter referred to therein (including reasonable fees and expenses of counsel). 
 (e)    The Borrower
shall have duly authorized, executed and delivered this Agreement, and each other party to this Agreement shall have executed and delivered this Agreement, and this Agreement shall be in full force and effect. 

(f)    The Administrative Agent (or its counsel) shall have received from each Credit Party either (i) a counterpart
of each of the Security Agreement, Pledge Agreement, Subsidiaries Guaranty and Intercompany Subordination Agreement, in each case, signed on behalf of such party party thereto or (ii) written evidence satisfactory to the Administrative Agent
(which may include facsimile or other electronic transmission of a signed counterpart of the Security Agreement, Pledge Agreement, Subsidiaries Guaranty and Intercompany Subordination Agreement,) that such party has signed a counterpart of the
Security Agreement, Pledge Agreement, Subsidiaries Guaranty and Intercompany Subordination Agreement, 
 (g)    The
Administrative Agent shall have received: 
 (i)    evidence reasonably satisfactory to it as to the
proper filing of financing statements (Form UCC-1 or the equivalent) in each jurisdiction as may be necessary or, in the reasonable opinion of the Collateral Agent, desirable, to perfect the security interests
purported to be created by the Security Agreement; 
 (ii)    certified copies of requests for
information or copies (Form UCC-11), or equivalent reports as of a recent date, listing all effective financing statements that name the Borrower or any Restricted Subsidiary as debtor and that are filed in
the jurisdictions referred to in clause (i) above and in such other jurisdictions in which Collateral is located on the Closing Date, together with copies of such other financing statements that name the Borrower or any Restricted Subsidiary as
debtor (none of which shall cover any of the Collateral except (x) to the extent evidencing Permitted Liens or (y) those in respect of which the Collateral Agent shall have received termination statements (Form UCC-3) or such other termination statements as shall be required by local law fully executed for filing); 

(iii)    evidence of the completion of all other recordings and filings of, or with respect to, the
Security Agreement (other than to the extent such actions are required or permitted to be performed after the Closing Date) as may be necessary or, in the reasonable opinion of the Collateral Agent, desirable, to perfect the security interests
intended to be created by the Security Agreement; and 
 (iv)    evidence that all other actions
necessary or, in the reasonable opinion of the Collateral Agent, desirable to perfect and protect the security interests purported to be created by the Security Agreement have been taken (other than to the extent such actions are required or
permitted to be performed after the Closing Date), and the Security Agreement shall be in full force and effect. 

(h)    The representations and warranties set forth in Article 3 and in each other Credit Document shall be true and
correct in all material respects on and as of the Closing Date after giving effect to the Transactions with the same effect as though made on and as of such date, except to the extent such representations and warranties expressly relate to an
earlier date. 

  
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 (i)    As of, and immediately after the Closing Date, after giving effect to
the Transactions, no Default or Event of Default shall have occurred and be continuing. 
 (j)    Immediately after
giving effect to the Consummation of the Plan of Reorganization, the Transactions and the other transactions contemplated hereby, the Borrower and the Restricted Subsidiaries shall have outstanding no Indebtedness for borrowed money or Preferred
Equity other than Indebtedness outstanding under this Agreement, the Convertible Preferred Stock, the Second Lien Senior Subordinated PIK Toggle Notes, indebtedness listed on Schedule 3.21, other Indebtedness permitted to be incurred under this
Agreement and Qualified Equity Interests. 
 (k)    The Lenders shall have received the financial statements referred to
in Section 3.05. 
 (l)    The Administrative Agent shall have received a certificate from the chief financial
officer of the Borrower substantially in the form attached hereto as Exhibit K certifying that the Borrower and its subsidiaries, on a consolidated basis after giving effect to the Transactions to occur on the Closing Date, are solvent. 

(m)    The Administrative Agent shall have received, at least five Business Days prior to the Closing Date, to the extent
requested, 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. 

(n)    The Administrative Agent shall have received a copy of each of (i) the Second Lien Senior Subordinated PIK
Toggle Notes, the Second Lien Senior Subordinated PIK Toggle Notes Indenture and each other Second Lien Senior Subordinated PIK Toggle Notes Document and (ii) the First Lien/Second Lien Intercreditor Agreement, in each case, duly executed by
the parties party thereto and effective as of the Plan Effective Date. 
 (o)    The Administrative Agent shall have
received a copy of, or a certificate as to coverage under, the insurance policies required by Section 5.03 and the applicable provisions of the Security Documents, each of which shall be endorsed or otherwise amended to include a customary
lender’s loss payable endorsement and to name the Collateral Agent as additional insured, in form and substance reasonably satisfactory to the Administrative Agent. 

(p)    The Confirmation Order shall have been entered in accordance with the Bankruptcy Code, the Federal Rules of
Bankruptcy Procedure, any applicable orders of the Bankruptcy Court and any applicable local rules. 
 (q)    The
Confirmation Order shall be in full force and effect and shall not, without the consent of the Required Lenders, have been stayed, reversed, modified or amended, and shall not be subject to a motion to stay. 

(r)    The Consummation of the Plan of Reorganization in accordance with its terms shall occur on the Closing Date,
substantially simultaneously with the deemed making of the Tranche B Term Loans pursuant to Section 2.01. 

(s)    The Administrative Agent shall have received fully executed Control Agreements (as defined in the Security
Agreement) governing each deposit account of the Credit Parties, to the extent required by the Security Agreement. 

  
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 ARTICLE 5 

AFFIRMATIVE COVENANTS 

The Borrower covenants and agrees with each Lender that so long as this Agreement shall remain in effect and until the Commitments have been
terminated and the principal of and interest on each Loan, all Fees and all other expenses or amounts payable under any Credit Document shall have been paid in full (other than contingent indemnification obligations for which no claim has been made)
(the date on which all such conditions are satisfied, the “Termination Date”), unless the Required Lenders shall otherwise consent in writing: 

Section 5.01    Information Covenants. The Borrower will furnish to the Administrative Agent which will
promptly furnish to each Lender: 
 (a)    [Reserved]. 

(b)    Quarterly Financial Statements. Within 45 days after the end of the first three fiscal quarters of each
fiscal year of the Borrower, (i) its consolidated balance sheet and related statements of comprehensive income as of the end of and for such fiscal quarter and the then elapsed portion of the fiscal year and related statements of
stockholders’ equity and cash flows as of the then elapsed portion of the fiscal year, setting forth in each case in comparative form the figures for the corresponding prior period or periods (or in the case of the balance sheet, as of the end
of the previous fiscal year, and, in the case of the statement of shareholders’ equity, no comparative disclosure), all of which shall be certified by an Authorized Officer of the Borrower that they fairly present in all material respects in
accordance with GAAP the financial condition of the Borrower and its Subsidiaries as of the dates indicated and the results of their operations for the periods indicated, subject to normal year-end audit
adjustments and the absence of footnotes and (ii) the information set forth on Schedule 5.01 for such quarterly period, which shall be certified as being true and correct in all material respects by an Authorized Officer of the Borrower. 

(c)    Annual Financial Statements. Within 90 days after the end of each fiscal year of the Borrower, (i) the
consolidated balance sheet of the Borrower and its Subsidiaries as at the end of such fiscal year and the related consolidated statements of income and stockholders’ equity and statement of cash flows for such fiscal year setting forth
comparative figures where applicable for the preceding fiscal year and reported on by Ernst & Young LLP or other independent certified public accountants of recognized national standing (which report shall be without a “going
concern” or like qualification or exception and without any qualification or exception as to scope of audit), together with a report of such accounting firm stating that in the course of its regular audit of the financial statements of the
Borrower and its Subsidiaries, which audit was conducted in accordance with generally accepted auditing standards, such accounting firm obtained no knowledge of any Default or an Event of Default relating to financial or accounting matters which has
occurred and is continuing or, if such accounting firm obtained knowledge of such a Default or an Event of Default, a statement as to the nature thereof, in each case only to the extent that such accounting firm is not restricted or prohibited from
doing so by its internal policies or accounting rules or guidelines generally) and (ii) the information set forth on Schedule 5.01 for such fiscal year, which shall be certified as being true and correct in all material respects by an
Authorized Officer of the Borrower. 
 (d)    Unrestricted Subsidiaries. At any time the Borrower has
designated any of its Subsidiaries as Unrestricted Subsidiaries pursuant to Section 5.21, simultaneously with the delivery of each set of consolidated financial statements referred to in Sections 5.01(b) and (c), the related consolidating
financial statements reflecting the adjustments necessary to eliminate the accounts of Unrestricted Subsidiaries (if any) from such consolidated financial statements. 

  
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 (e)    [Reserved]. 

(f)    Officer’s Certificates. At the time of the delivery of the financial statements provided
for in Sections 5.01(b) and (c), a compliance certificate from an Authorized Officer of the Borrower substantially in the form of Exhibit G certifying on behalf of the Borrower that, to such officer’s knowledge after due inquiry, no Default or
Event of Default has occurred and is continuing or, if any Default or Event of Default has occurred and is continuing, specifying the nature and extent thereof, which certificate shall (i) set forth in reasonable detail the calculations
required to establish whether the Borrower and the Restricted Subsidiaries were in compliance with the provisions of Section 2.13(b), Section 2.13(c) and Section 2.13(e) and Section 6.07, Section 6.08 and Section 6.09,
inclusive, at the end of such fiscal quarter or year, as the case may be, (ii) if delivered with the financial statements required by Section 5.01(c), set forth in reasonable detail the amount of (and the calculations required to establish
the amount of) Excess Cash Flow for the respective Excess Cash Flow Payment Period, (iii) set forth a list of all Immaterial Subsidiaries and Unrestricted Subsidiaries, (iv) certify that there have been no changes to Schedules 1 through 8
of the Security Agreement and Annexes A through G of the Pledge Agreement, in each case since the Closing Date or, if later, since the date of the most recent certificate delivered pursuant to this Section 5.01(f), or if there have been any
such changes, a list in reasonable detail of such changes (but, in each case with respect to this clause (iv), only to the extent that such changes are required to be reported to the Collateral Agent pursuant to the terms of such Security Documents)
and whether the Borrower and the other Credit Parties have otherwise taken all actions required to be taken by them pursuant to such Security Documents in connections with any such changes and (v) include a reaffirmation by the Borrower of its
obligations under the Credit Documents. 
 (g)    Notice of Default, Litigation and Material Adverse Effect.
Promptly, and in any event within three Business Days after any Authorized Officer obtains knowledge thereof, notice of (i) the occurrence of any event which constitutes a Default or an Event of Default, specifying the nature and extent
thereof and the corrective action (if any) taken or proposed to be taken with respect thereto, (ii) any litigation or governmental investigation or proceeding pending, or any threat or notice of intention of any Person to file or commence any
litigation or governmental investigation or proceeding, against the Borrower or any of its Subsidiaries (x) which, either individually or in the aggregate, has had, or could reasonably be expected to have, a Material Adverse Effect or
(y) with respect to any Credit Document and (iii) any other event, change or circumstance that has had, or could reasonably be expected to have, a Material Adverse Effect. 

(h)    Other Reports and Filings. Promptly after the filing or delivery thereof, copies of all financial
information, proxy materials and reports, if any, which the Borrower or any of its Subsidiaries shall publicly file with the Securities and Exchange Commission or any successor thereto (the “SEC”) (which delivery requirement shall
be deemed satisfied by the posting of such information, materials or reports on EDGAR or any successor website maintained by the SEC so long as the Administrative Agent shall have been promptly notified in writing by the Borrower of the posting
thereof) or deliver to holders (or any trustee, agent or other representative therefor) of any Qualified Equity Interests of the Borrower, or any of its other material Indebtedness pursuant to the terms of the documentation governing the same. 

(i)    Notice under Designated Material Contracts. Promptly following the occurrence of, or receipt by, as
applicable, the Borrower or any of its Subsidiaries thereof, (i) notice of a reasonable expectation of termination of any Designated Material Contract, (ii) notice of actual termination of any Designated Material Contract and
(iii) written notice of an event which if uncured could give rise to a termination event under any Designated Material Contract. 

  
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 (j)    Patriot Act Information. Promptly following the Administrative
Agent’s or any Lender’s request therefor, all documentation and other information that the Administrative Agent or any Lender reasonably requests in order to comply with its on-going obligations
under applicable “know your customer” and anti-money laundering rules and regulations, including the Patriot Act. 

(k)    [Reserved]. 

(l)    [Reserved]. 

(m)    [Reserved]. 

(n)    Other Information. From time to time, such other information or documents (financial or otherwise) with
respect to the Borrower or any of its Subsidiaries as the Administrative Agent or the Required Lenders (through the Administrative Agent) may reasonably request. 

Section 5.02    Books, Records and Inspections. The Borrower will, and will cause each of the
Restricted Subsidiaries to, keep proper books of record and accounts in which full, true and correct entries in conformity with GAAP and all requirements of law shall be made of all dealings and transactions in relation to its business and
activities. The Borrower will, and will cause each of the Restricted Subsidiaries to, permit officers and designated representatives of the Administrative Agent or the Required Lenders to visit and inspect, under guidance of officers of the Borrower
or such Restricted Subsidiary, any of the properties of the Borrower or such Restricted Subsidiary, and to examine the books of account of the Borrower or such Restricted Subsidiary and discuss the affairs, finances and accounts of the Borrower or
such Restricted Subsidiary with, and be advised as to the same by, its and their officers and independent accountants, all upon reasonable prior notice and at such reasonable times and intervals and to such reasonable extent as the Administrative
Agent or the Required Lenders may reasonably request; provided that, excluding any such visits and inspections during the continuation of an Event of Default, only the Administrative Agent on behalf of the Lenders may exercise visitation and
inspection rights of the Administrative Agent and the Lenders under this sentence. 

Section 5.03    Maintenance of Property; Insurance. (a) The Borrower will, and will cause each of the
Restricted Subsidiaries to, (i) keep all material property necessary to the business of the Borrower and the Restricted Subsidiaries in good working order and condition, ordinary wear and tear excepted and subject to the occurrence of casualty
events, (ii) maintain with financially sound and reputable insurance companies insurance on all such property and against all such risks as is consistent and in accordance with industry practice for companies similarly situated owning similar
properties and engaged in similar businesses as the Borrower and the Restricted Subsidiaries, and (iii) furnish to the Administrative Agent, upon its request therefor, full information as to the insurance carried. Such insurance to the extent
consistent with the foregoing shall include physical damage insurance on all real and personal property (whether now owned or hereafter acquired) on an all risk basis and business interruption insurance. 

(b)    The Borrower will, and will cause each of the Restricted Subsidiaries to, at all times keep its material property
insured in favor of the Collateral Agent, and shall ensure (or, with respect of clauses (ii) and (iii) below, use commercially reasonable efforts to ensure) that all policies or certificates (or certified copies thereof) with respect to such
insurance (and any other insurance maintained by the Borrower and/or such Restricted Subsidiaries) (i) be endorsed to the Collateral Agent’s reasonable satisfaction for the benefit of the Collateral Agent (including, without limitation, by
naming the Collateral Agent as loss payee and/or additional insured), (ii) state that the insurers under such insurance policies shall endeavor to provide at least 15 days’ prior written notice of the cancellation thereof by the respective
insurer to the Collateral Agent, (iii) provide that the respective insurers irrevocably waive any and all rights of subrogation with respect to the Collateral Agent and the other Secured Creditors, and (iv) be delivered to the Collateral
Agent. 

  
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 (c)    If the Borrower or any Restricted Subsidiary shall fail to maintain
insurance in accordance with this Section 5.03, or if the Borrower or any Restricted Subsidiary shall fail to so endorse and deposit all policies or certificates with respect thereto, the Administrative Agent shall have the right (but shall be
under no obligation) to procure such insurance and the Borrower agrees to reimburse the Administrative Agent for all costs and expenses of procuring such insurance, provided that the Administrative Agent shall furnish written notice to the
Borrower of its intent to procure such insurance. 
 (d)    If at any time the area in which the buildings or other
improvements (as defined in the applicable Mortgages) in respect of any Mortgaged Property are located is designated (1) a “flood hazard area” in any Flood Insurance Rate Map published by the Federal Emergency Management Agency
(or any successor agency), the Borrower shall obtain flood insurance in such total amount as the Administrative Agent, the Collateral Agent or the Required Lenders may from time to time reasonably require, and otherwise comply with the NFIP as set
forth in the Flood Disaster Protection Act of 1973, as it may be amended from time to time, or (2) a “Zone 1” area, the Borrower shall obtain earthquake insurance in such total amount as the Administrative Agent, the Collateral
Agent or the Required Lenders may from time to time reasonably require. Following the Closing Date, the Borrower shall deliver to the Collateral Agent annual renewals of each flood insurance policy or annual renewals of each force-placed flood
insurance policy, as applicable. In connection with any amendment to this Agreement pursuant to which any increase, extension, or renewal of Loans is contemplated, the Borrower shall cause to be delivered to the Collateral Agent for any Mortgaged
Property, a Flood Determination Form, Borrower Notice and Evidence of Flood Insurance, as applicable. 
 (e)    With
respect to any Mortgaged Property, carry and maintain commercial general liability insurance and coverage on an occurrence basis against claims made for personal injury (including bodily injury, death and property damage) and umbrella liability
insurance against any and all claims, in no event for a combined single limit of less than that which is customary for companies in the same or similar businesses operating in the same or similar locations, naming the Collateral Agent as an
additional insured, on forms reasonably satisfactory to the Collateral Agent. 
 (f)    The Borrower shall notify the
Administrative Agent and the Collateral Agent promptly whenever any separate insurance concurrent in form or contributing in the event of loss with that required to be maintained under this Section 5.03 is taken out by any Credit Party; and
promptly deliver to the Administrative Agent and the Collateral Agent a duplicate original copy of such policy or policies. 

Section 5.04    Existence; Franchises. The Borrower will, and will cause each of the Restricted
Subsidiaries to, (x) do or cause to be done all things necessary to preserve and keep in full force and effect its organizational existence and (y) take all reasonable action to maintain all rights, privileges, franchises, licenses,
permits, copyrights, trademarks, trade names, and patents necessary or desirable in the normal conduct of its business; provided, however, that nothing in this Section 5.04 shall prevent (i) sales of assets and other transactions by
the Borrower or any Restricted Subsidiary in accordance with Section 6.02, (ii) the discontinuation, abandonment or expiration of any right, franchise, license, permit, copyright, trademark or patent if such discontinuation, abandonment or
expiration could not, either individually or in the aggregate, reasonably be expected to have a Material Adverse Effect or (iii) the withdrawal by the Borrower or any Restricted Subsidiary of its qualification as a foreign Company in any
jurisdiction if such withdrawal could not, either individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

Section 5.05    Compliance with Statutes, Etc. The Borrower will, and will cause each of the Restricted
Subsidiaries to, comply with all applicable statutes, regulations and orders of, and all applicable restrictions imposed by, all Governmental Authorities in respect of the conduct of its business and the ownership of its property (including
applicable statutes, regulations, orders and restrictions relating to environmental standards and controls), except such non-compliances as could not, either individually or in the aggregate, reasonably be
expected to have a Material Adverse Effect. 

  
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 Section 5.06    Compliance with Environmental Laws. (a) The
Borrower will comply, and will cause each of its Subsidiaries to comply, with all Environmental Laws and permits applicable to, or required by, its operations or the ownership, lease, occupancy, or use of its Real Property now or hereafter owned,
leased or operated by the Borrower or any of its Subsidiaries, except such noncompliances as could not, either individually or in the aggregate, reasonably be expected to have a Material Adverse Effect, and will promptly pay or cause to be paid all
costs and expenses incurred in connection with such compliance, and will keep or cause to be kept all such Real Property free and clear of any Liens imposed pursuant to such Environmental Laws except, in each case, for Permitted Liens related
thereto. Neither the Borrower nor any of its Subsidiaries will generate, use, treat, store, Release or dispose of Hazardous Materials on any Real Property now or hereafter owned, leased or operated by the Borrower or any of its Subsidiaries, or
transport Hazardous Materials to or from any such Real Property, except for Hazardous Materials generated, used, treated, stored, Released or disposed of at or transported from, any such Real Properties (x) in compliance in all respects with
all applicable Environmental Laws and as required in connection with the normal operation, use and maintenance of the business or operations of the Borrower or any of its Subsidiaries or (y) as could not, either individually or in the
aggregate, reasonably be expected to have a Material Adverse Effect. 
 (b)    (i) At any time that the Borrower or any
of its Subsidiaries are not in compliance with Section 5.06(a), or (ii) in the event that the Administrative Agent or the Lenders have exercised any of the remedies pursuant to the last paragraph of Section 7.01, the Borrower will (in
each case) provide, at the sole expense of the Borrower and at the request of the Administrative Agent, a non-invasive environmental site assessment report concerning the Real Property owned, leased or
operated by the Borrower or any of its Subsidiaries that is in question, prepared by an environmental consulting firm reasonably approved by the Administrative Agent, indicating the presence or absence of Hazardous Materials or noncompliance and the
potential cost of any removal or remedial action required by a Governmental Authority in connection with such Hazardous Materials or noncompliance on such Real Property. If the Borrower fails to provide the same within 60 days after such request was
made, the Administrative Agent may order the same, the cost of which shall be borne by the Borrower, and the Borrower shall grant and hereby grants to the Administrative Agent and the Lenders and their respective agents access to such Real Property
and specifically grants the Administrative Agent and the Lenders an irrevocable non-exclusive license, subject to the rights of tenants, to undertake such an assessment at any reasonable time upon reasonable
notice to the Borrower, all at the sole expense of the Borrower. 
 Section 5.07    ERISA. (a) Furnish
written notice to the Administrative Agent promptly, and in any event within ten days after any responsible officer of Borrower or any ERISA Affiliate knows, or has reason to know, that any ERISA Event has occurred or is reasonably likely to occur
that, alone or together with any other ERISA Event could reasonably be expected to result in liability of the Borrower or any ERISA Affiliate in an aggregate amount exceeding $10,000,000. 

(b)    The Borrower and each of its applicable Subsidiaries shall ensure that all Foreign Pension Plans administered by it
or into which it makes payments obtains or retains (as applicable) registered status under and as required by applicable law and is administered in a timely manner in all respects in compliance with all applicable laws except where the failure to do
any of the foregoing, either individually or in the aggregate, could not reasonably be expected to have a Material Adverse Effect. 

  
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 Section 5.08    End of Fiscal Years; Fiscal Quarters. The
Borrower will cause (i) its and each of its Domestic Subsidiaries’ fiscal years to end on December 31 of each calendar year and (ii) its and each of its Domestic Subsidiaries’ fiscal quarters to end on March 31,
June 30, September 30 and December 31 of each calendar year. 
 Section 5.09    [Reserved]. 

Section 5.10    Payment of Taxes. The Borrower will pay and discharge, and will cause each of the
Restricted Subsidiaries to pay and discharge, all material taxes, assessments and governmental charges or levies imposed upon it or upon its income or profits or upon any properties belonging to it, prior to the date on which penalties attach
thereto, and all material lawful claims which, if unpaid, might become a Lien or charge upon any properties of the Borrower or any Restricted Subsidiary not otherwise permitted under Section 6.01(i); provided that neither the Borrower
nor any Restricted Subsidiary shall be required to pay any such tax, assessment, charge, levy or claim which is being contested in good faith and by proper proceedings if it has maintained adequate reserves with respect thereto in accordance with
GAAP. 
 Section 5.11    Use of Proceeds. The Borrower will use the proceeds of the Loans only for
the purposes specified in the introductory statement to this Agreement. 
 Section 5.12    Additional Security;
Further Assurances; Etc. (a) The Borrower will, and will cause each other Credit Party to, grant to the Collateral Agent for the benefit of the Secured Creditors security interests and Mortgages in such assets and Real Property of the
Borrower and such other Credit Party as are not covered by the original Security Documents and as may be reasonably requested from time to time by the Administrative Agent or the Required Lenders (collectively, the “Additional Security
Documents”). All such security interests and Mortgages shall be granted pursuant to documentation reasonably satisfactory in form and substance to the Collateral Agent and shall constitute valid and enforceable perfected security interests,
hypothecations and Mortgages superior to and prior to the rights of all third Persons and enforceable against third parties and subject to no other Liens except for Permitted Liens or, in the case of Real Property, the Permitted Encumbrances related
thereto. The Additional Security Documents or instruments related thereto shall be duly recorded or filed in such manner and in such places as are required by law to establish, perfect, preserve and protect the Liens in favor of the Collateral Agent
required to be granted pursuant to the Additional Security Documents and all taxes, fees and other charges payable in connection therewith shall be paid in full. Notwithstanding the foregoing, this Section 5.12(a) shall not (i) apply to
any Excluded Collateral or (ii) require any Credit Party to grant a Mortgage in (x) any Leasehold, (y) any owned Real Property the book value of which is less than $5,000,000 or (z) any REO Assets. 

(b)    [Reserved]. 

(c)    With respect to any owned Real Property with respect to which a Mortgage is delivered pursuant to this
Section 5.12, Borrower will promptly (i) if requested by the Collateral Agent, provide the Lenders with a Mortgage Policy covering such real property in an amount at least equal to the purchase price of such real property (or such other
amount as shall be reasonably specified by the Collateral Agent) as well as an ALTA survey thereof certified to the Collateral Agent in form reasonably satisfactory to the Collateral Agent and (ii) if requested by the Collateral Agent, deliver
to the Collateral Agent legal opinions relating to the matters described above, which opinions shall be in form and substance, and from counsel, reasonably satisfactory to the Collateral Agent. No later than three Business Days prior to the date on
which a Mortgage is executed and delivered pursuant to this Section 5.12(c), in order to comply with the Flood Laws, the Collateral Agent shall have received the following documents (collectively, the “Flood Documents”): (A) a
completed standard “life of loan” flood hazard determination form (a “Flood Determination Form”), (B) if the improvement(s) to the applicable improved real property is located in a special flood hazard area, a notification
to the Borrower (“Borrower Notice”) and (if applicable) 

  
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notification to the Borrower that flood insurance coverage under the National Flood Insurance Program (“NFIP”) is not available because the community does not participate in the
NFIP, (C) documentation evidencing the Borrower’s receipt of the Borrower Notice (e.g., countersigned Borrower Notice, return receipt of certified U.S. Mail, or overnight delivery), and (D) if the Borrower Notice is required to
be given and flood insurance is available in the community in which the property is located, a copy of one of the following: the flood insurance policy, the borrower’s application for a flood insurance policy plus proof of premium payment, a
declaration page confirming that flood insurance has been issued, or such other evidence of flood insurance reasonably satisfactory to the Collateral Agent (any of the foregoing being “Evidence of Flood Insurance”). 

(d)    The Borrower agrees that each action required by clauses (a) through (c) of this Section 5.12 shall be
completed as soon as possible, but in no event later than 60 days after such action is requested to be taken by the Administrative Agent or the Required Lenders; provided that, in no event will the Borrower or any Restricted Subsidiary be
required to take any action, other than using its commercially reasonable efforts, to obtain consents from third parties with respect to its compliance with this Section 5.12. 

Section 5.13    [Reserved]. 

Section 5.14    [Reserved]. 

Section 5.15    [Reserved]. 

Section 5.16    [Reserved]. 

Section 5.17    [Reserved]. 

Section 5.18    Maintenance of Company Separateness. The Borrower will cause each Non-Recourse Entity and each Securitization Entity to satisfy customary formalities for such entity, including, as applicable (i) to the extent required by law, the holding of regular board of members’,
managers’, directors’ and shareholders’ meetings or action by members, managers, directors or shareholders without a meeting, (ii) the maintenance of separate books and records and (iii) the maintenance of separate bank
accounts in its own name. Neither the Borrower nor any of the Restricted Subsidiaries shall make any payment to a creditor of any Non-Recourse Entity or any Securitization Entity in respect of any liability of
any Non-Recourse Entity or any Securitization Entity, and no bank account of any Non-Recourse Entity or any Securitization Entity shall be commingled with any bank
account of the Borrower or any of the Restricted Subsidiaries. Any financial statements distributed to any creditors of any Non-Recourse Entity or any Securitization Entity shall clearly establish or indicate
the corporate separateness of such Non-Recourse Entity or such Securitization Entity from the Borrower and the other Restricted Subsidiaries. Neither the Borrower nor any of the Restricted Subsidiaries shall
take any action, or conduct its affairs in a manner, which is likely to result in the separate legal existence of the Borrower or any Restricted Subsidiary being ignored, or in the assets and liabilities of the Borrower or any Restricted Subsidiary
being substantively consolidated with those of any other Person in a bankruptcy, reorganization or other insolvency proceeding. 

Section 5.19    [Reserved]. 

Section 5.20    Maintenance of Ratings. The Borrower will use its commercially reasonable efforts to
maintain at all times public ratings (of any level) for the Credit Facilities and public corporate ratings or corporate family ratings (as applicable) of any level with respect to the Borrower, in each case from each of S&P and Moody’s.

  
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 Section 5.21    Designation of Subsidiaries. The Borrower may at
any time designate any Subsidiary as an Unrestricted Subsidiary or any Unrestricted Subsidiary as a Restricted Subsidiary; provided that (a) immediately before and after such designation, no Default or Event of Default shall have occurred and
be continuing, (b) the First Lien Net Leverage Ratio specified in Section 6.09 as of the last day of the most recently ended Calculation Period (determined on a Pro Forma Basis after giving effect to such designation) shall be satisfied
(and, as a condition precedent to the effectiveness of any such designation, the Borrower shall deliver to the Administrative Agent a certificate of an Authorized Officer setting forth in reasonable detail the calculations demonstrating such
compliance), (c) no Subsidiary may be designated as or continue as an Unrestricted Subsidiary if it is a “Restricted Subsidiary” for the purposes of any other Indebtedness (including, for the avoidance of doubt, under the Second Lien
Senior Subordinated PIK Toggle Notes) and (d) the Required Lenders shall have consented to the designation of such Restricted Subsidiary as an Unrestricted Subsidiary. The designation of any Subsidiary as an Unrestricted Subsidiary shall
constitute an Investment by the Borrower therein at the date of designation in an amount equal to the fair market value of the Borrower’s or its Subsidiary’s (as applicable) investment therein. No Unrestricted Subsidiary shall at any time
own any Equity Interests or Indebtedness of, or own or hold any Lien on, any property of the Borrower or any Restricted Subsidiary. The designation of any Unrestricted Subsidiary as a Restricted Subsidiary shall constitute the incurrence at the time
of designation of any Investment, Indebtedness or Liens of such Subsidiary existing at such time. Any such designation shall be notified by the Borrower to the Administrative Agent by promptly delivering to the Administrative Agent a certificate of
an Authorized Officer certifying that such designation complied with the foregoing provisions. 

Section 5.22    Post-Closing Items. Notwithstanding anything herein or in the other Credit Documents to the
contrary, the Borrower shall, or shall cause each other Credit Party to, satisfy the obligations listed in Schedule 5.22 by the times specified therein with respect to such items, or such later time as may be agreed to by the Administrative Agent in
its reasonable discretion. 
 ARTICLE 6 

NEGATIVE COVENANTS 

The Borrower covenants and agrees with each Lender that until the Termination Date, unless the Required Lenders shall otherwise consent in
writing: 
 Section 6.01    Liens. The Borrower will not, and will not permit any of the Restricted
Subsidiaries to, create, incur, assume or suffer to exist any Lien upon or with respect to any property or assets (real or personal, tangible or intangible and including Equity Interests or other securities of any Person, including any Restricted
Subsidiary) of the Borrower or any Restricted Subsidiary, whether now owned or hereafter acquired, or on any income or revenues or rights in respect of any thereof; provided that the provisions of this Section 6.01 shall not prevent the
creation, incurrence, assumption or existence of the following (Liens described below are herein referred to as “Permitted Liens”): 

(i)    Liens for taxes, assessments or governmental charges or levies not yet due or Liens for taxes,
assessments or governmental charges or levies being contested in good faith and by appropriate proceedings for which adequate reserves have been established in accordance with GAAP; 

(ii)    Liens in respect of property or assets of the Borrower or any Restricted Subsidiary imposed by law,
which were incurred in the ordinary course of business and do not secure Indebtedness for borrowed money, such as carriers’, warehousemen’s, materialmen’s and mechanics’ liens and other similar Liens arising in the ordinary
course of business, and in each case (x) which are for amounts that are not past-due and do not in the aggregate materially detract 

  
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from the value of the Borrower’s or such Restricted Subsidiary’s property or assets or materially impair the use thereof in the operation of the business of the Borrower or such
Restricted Subsidiary or (y) which are being contested in good faith by appropriate proceedings, which proceedings have the effect of preventing the forfeiture or sale of the property or assets subject to any such Lien, and for which adequate
reserves have been established in accordance with GAAP; 
 (iii)    Liens in existence on the Closing
Date which are listed, and the property subject thereto described, in Schedule 6.01, plus renewals, replacements and extensions of such Liens, provided that (x) the aggregate principal amount of the Indebtedness, if any, or obligations
secured by such Liens does not increase from that amount outstanding at the time of any such renewal, replacement or extension and (y) any such renewal, replacement or extension does not encumber any additional assets or properties of the
Borrower or any Restricted Subsidiary; 
 (iv)    Liens created by or pursuant to this Agreement and the
Security Documents; 
 (v)    (x) licenses, sublicenses, leases or subleases granted by the Borrower or
any Restricted Subsidiary to other Persons in the ordinary course of business and not materially interfering with the conduct of the business of the Borrower or any Restricted Subsidiary or materially detracting from the value of the Borrower’s
or such Restricted Subsidiary’s property, rights or assets and (y) any interest or title of a lessor, sublessor or licensor under any operating lease or license agreement entered into by the Borrower or any Restricted Subsidiary in the
ordinary course of business and covering only the assets so leased or licensed; 
 (vi)    Liens upon
assets of the Borrower or any Restricted Subsidiary subject to Capitalized Lease Obligations to the extent such Capitalized Lease Obligations are permitted by Section 6.04(iv), provided that (x) such Liens only serve to secure the
payment of Indebtedness arising under such Capitalized Lease Obligation and (y) the Lien encumbering the asset giving rise to the Capitalized Lease Obligation does not encumber any other asset of the Borrower or any Restricted Subsidiary; 

(vii)    Liens placed upon fixed or capital assets used in the ordinary course of business of the Borrower
or any Restricted Subsidiary and placed at the time of the acquisition thereof by the Borrower or such Restricted Subsidiary or within 90 days thereafter to secure Indebtedness incurred to pay all or a portion of the purchase price thereof or to
secure Indebtedness incurred solely for the purpose of financing the acquisition of any such assets, or extensions, renewals or replacements of any of the foregoing for the same or a lesser amount, provided that (x) the Indebtedness
secured by such Liens is permitted by Section 6.04(iv) and (y) in all events, the Lien encumbering the assets so acquired does not encumber any other asset of the Borrower or such Restricted Subsidiary (other than property financed by such
Indebtedness and proceeds thereof); 
 (viii)    easements, rights-of-way, restrictions, encroachments and other similar charges or encumbrances, and minor title deficiencies, in each case not securing Indebtedness and not materially interfering with the conduct of
the business of the Borrower or any Restricted Subsidiary; 
 (ix)    Liens arising from precautionary
UCC financing statement filings regarding operating leases entered into or dispositions of assets consummated in the ordinary course of business; 

  
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 (x)    Liens arising out of the existence of judgments or
awards not constituting an Event of Default under Section 7.01(i) and in respect of which the Borrower or any Restricted Subsidiary shall in good faith be prosecuting an appeal or proceedings for review and in respect of which there shall have
been secured a subsisting stay of execution pending such appeal or proceedings; 
 (xi)    statutory and
common law landlords’ liens under leases entered into in the ordinary course of business by the Borrower or any Restricted Subsidiary; 

(xii)    (A) Liens (other than Liens imposed under ERISA) incurred in the ordinary course of business in
connection with workers compensation claims, unemployment insurance and other social security legislation and (B) Liens securing the performance of bids, trade contracts, performance and completion guarantees, tenders, leases and contracts in
the ordinary course of business, statutory obligations, surety bonds, performance bonds and other obligations of a like nature incurred in the ordinary course of business (in each case exclusive of obligations in respect of Indebtedness); 

(xiii)    Permitted Encumbrances; 

(xiv)    Liens on property or assets acquired pursuant to a Permitted Acquisition, or on property or assets
of a Restricted Subsidiary in existence at the time such Restricted Subsidiary is acquired pursuant to a Permitted Acquisition, provided that (x) any Indebtedness that is secured by such Liens is permitted to exist under
Section 6.04(vii), and (y) such Liens are not incurred in connection with, or in contemplation or anticipation of, such Permitted Acquisition and do not attach to any other asset of the Borrower or any Restricted Subsidiary; 

(xv)    Liens arising out of any conditional sale, title retention, consignment or other similar
arrangements for the sale of goods entered into by the Borrower or any Restricted Subsidiary in the ordinary course of business to the extent such Liens do not attach to any assets other than the goods subject to such arrangements; 

(xvi)    Liens (x) incurred in the ordinary course of business in connection with the purchase or
shipping of goods or assets (or the related assets and proceeds thereof), which Liens are in favor of the seller or shipper of such goods or assets and only attach to such goods or assets, and (y) in favor of customs and revenue authorities
arising as a matter of law to secure payment of customs duties in connection with the importation of goods in the ordinary course of business; 

(xvii)    (A) bankers’ Liens, rights of setoff and other similar Liens existing solely with respect to
cash and Cash Equivalents on deposit in one or more accounts maintained by the Borrower or any Restricted Subsidiary, in each case granted in the ordinary course of business and are customary in the banking industry in favor of the bank or banks
with which such accounts are maintained, securing amounts owing to such bank or banks with respect to cash management and operating account arrangements and (B) Liens of a collection bank arising under Section 4-210 of the UCC on items in
the course of collection; 
 (xviii)    Liens securing
Non-Recourse Indebtedness so long as any such Lien shall encumber only (i) the assets originated, acquired or funded with the proceeds of such Non-Recourse
Indebtedness and (ii) any intangible contract rights and other accounts, documents, records and other property directly related to the assets set forth in clause (i) and any proceeds thereof; 

  
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 (xix)    (A) Liens securing Permitted Funding Indebtedness
(and any related Interest Rate Protection Agreement) other than Permitted Servicing Advance Facility Indebtedness so long as any such Lien shall encumber only (i) the assets originated, acquired or funded with the proceeds of such Indebtedness
and (ii) any intangible contract rights and other accounts, documents, records and other property directly related to the assets set forth in clause (i) and any proceeds thereof and (B) Liens in any cash collateral or restricted
accounts securing Permitted Funding Indebtedness (and any related Interest Rate Protection Agreement) other than Permitted Servicing Advance Facility Indebtedness; 

(xx)    (A) Liens on Servicing Advances, any intangible contract rights, reimbursement rights for Servicing
Advances and other accounts, documents, records and property directly related to the foregoing assets and any proceeds thereof securing Permitted Servicing Advance Facility Indebtedness, Permitted Securitization Indebtedness or Non-Recourse Indebtedness and (B) Liens in any cash collateral or restricted accounts securing Permitted Servicing Advance Facility Indebtedness, or, if used to finance Servicing Advances, Permitted
Securitization Indebtedness or Non-Recourse Indebtedness, in each case only to the extent required by the debt provider or Government Sponsored Entity and limited to an amount that is customary in the
industry; 
 (xxi)    Liens on Servicing Advances (and/or reimbursement rights therefor), Residential
Mortgage Loans or MSR and any intangible contract rights and other accounts, documents, records and property directly related to the foregoing assets and any proceeds thereof, in each case that are the subject of an Excess Spread Sale entered into
in the ordinary course of business securing obligations under such Excess Spread Sale; 
 (xxii)    Liens
on the Equity Interests of any Unrestricted Subsidiary and the proceeds thereof securing Non-Recourse Indebtedness of such Unrestricted Subsidiary; 

(xxiii)    Liens on insurance policies and the proceeds thereof securing the financing of premiums with
respect thereto; provided such Liens shall not exceed the amount of such premiums so financed; 

(xxiv)    Liens on any cash earnest money deposits made by the Borrower or any Restricted Subsidiary in
connection with any letter of intent or purchase agreement permitted hereunder; 
 (xxv)    Liens on
Securitization Assets, any intangible contract rights and other accounts, documents, records and assets directly related to the foregoing assets and any proceeds thereof incurred in connection with Permitted Securitization Indebtedness or permitted
guarantees thereof; 
 (xxvi)    Liens on the Collateral securing Permitted External Refinancing Debt or
any Permitted Refinancing thereof; 
 (xxvii)    additional Liens of the Borrower or any Restricted
Subsidiary not otherwise permitted by this Section 6.01 so long as the aggregate outstanding principal amount of the obligations secured thereby (determined as of the date such Lien is incurred) does not exceed $22,500,000 in the aggregate for
all such Liens at any time; provided that such Liens shall not secure third party debt for borrowed money; 

  
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 (xxviii)    Liens in any cash collateral or restricted
accounts (containing only cash or cash equivalent securities, including securities issued or directly and fully guaranteed or insured by the United States or any agency or instrumentality thereof, including, without limitation, GNMA, FNMA or FHLMC
mortgage backed securities) securing any Interest Rate Protection Agreement permitted under the Credit Documents; 

(xxix)    Liens on cash, Cash Equivalents and restricted accounts containing cash and Cash Equivalents in
connection with the defeasance, discharge or redemption of Indebtedness; provided that such defeasance, discharge or redemption is permitted hereunder; 

(xxx)    Liens on cash, Cash Equivalents and accounts containing cash and Cash Equivalents securing
obligations owed by the Borrower or any Restricted Subsidiary to any Government Sponsored Entity, any other government agency or any insurer, which obligations are permitted or not prohibited under the Credit Documents and in each case, so long as
the aggregate principal amount at any time outstanding of the obligations secured thereby does not exceed the sum of $50,000,000 and the L/C Cap; 

(xxxi)    Liens on cash, Cash Equivalents and accounts containing cash and Cash Equivalents securing the
Indebtedness permitted by Section 6.04(xx) in an aggregate amount not to exceed 105% of the face amount of the Indebtedness permitted thereby; 

(xxxii)    subject to the First Lien/Second Lien Intercreditor Agreement, Liens securing indebtedness
permitted by Section 6.04(xxii). 
 In connection with the granting of Liens of the type described in clauses (iii), (vi), (vii), (xiv), (xviii),
(xix), (xx), (xxi), (xxv), (xxviii), (xxix), (xxx) and (xxxi) of this Section 6.01 by the Borrower of any of the Restricted Subsidiaries, the Administrative Agent and the Collateral Agent shall be authorized to take any actions deemed
appropriate by it in connection therewith without approval of any Lender (including, without limitation, by executing appropriate lien releases or lien subordination agreements in favor of the holder or holders of such Liens, in either case solely
with respect to the item or items of equipment or other assets subject to such Liens). 

Section 6.02    Consolidation, Merger, Sale of Assets, Etc. The Borrower will not, and will not permit
any of the Restricted Subsidiaries to, wind up, liquidate or dissolve its affairs or consummate any merger or consolidation, or convey, sell, lease or otherwise dispose of all or any part of its property or assets (other than sales of inventory in
the ordinary course of business), or consummate any sale-leaseback transactions with any Person, except that the following shall be permitted, in each case, so long as, in the case of each of the following constituting an Asset Sale, Disposition of
Bulk MSR or Non-Core Asset Sale, the Net Sale Proceeds therefrom are applied pursuant to Section 2.13(c): 

(i)    Capital Expenditures made in the ordinary course of business shall be permitted; 

(ii)    the Borrower and the Restricted Subsidiaries may liquidate or otherwise dispose of obsolete or worn-out property in the ordinary course of business; 

(iii)    Investments may be made to the extent permitted by Section 6.05 and Dividends to the extent
permitted by Section 6.04; 
 (iv)    the Borrower and the Restricted Subsidiaries may sell assets
(provided that any sale of less than all the capital stock or other Equity Interests of any Restricted Subsidiary in accordance with this clause (iv) shall be deemed to be an Investment by the Borrower or the

  
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applicable Restricted Subsidiary in the capital stock or other Equity Interests not so sold in an amount equal to the Fair Market Value of such capital stock or other Equity Interests), so long
as (v) no Default or Event of Default then exists or would result therefrom (including as a result of any such deemed investment), (w) the Borrower or the respective Restricted Subsidiary receives at least Fair Market Value and (x) the
consideration received by the Borrower or such Restricted Subsidiary consists of at least 75% cash or Cash Equivalents and is paid at the time of the closing of such sale; 

(v)    the Borrower and each of the Restricted Subsidiaries may lease (as lessee) or license (as licensee)
real or personal property in the ordinary course of business (so long as any such lease or license does not create a Capitalized Lease Obligation except to the extent permitted by Section 6.04(iv)); 

(vi)    the Borrower and each of the Restricted Subsidiaries may sell or discount, in each case without
recourse and in the ordinary course of business, accounts receivable arising in the ordinary course of business, but only in connection with the compromise or collection thereof and not as part of any financing transaction; 

(vii)    the Borrower and each of the Restricted Subsidiaries may grant licenses, sublicenses, leases or
subleases to other Persons in the ordinary course of business and not materially interfering with the conduct of the business of the Borrower or any Restricted Subsidiary; 

(viii)    the Borrower or any Restricted Subsidiary may convey, sell or otherwise transfer all or any part
of its business, properties and assets to the Borrower or to any Wholly-Owned Domestic Restricted Subsidiary which is a Subsidiary Guarantor; 

(ix)    any Restricted Subsidiary that is a Subsidiary Guarantor may merge or consolidate with and into, or
be dissolved or liquidated into, the Borrower or any Wholly-Owned Domestic Restricted Subsidiary which is a Subsidiary Guarantor, so long as (A) in the case of any such merger, consolidation, dissolution or liquidation involving the Borrower,
the Borrower is the surviving or continuing entity of any such merger, consolidation, dissolution or liquidation and (B) in all other cases, a Subsidiary Guarantor is the surviving or continuing entity of any such merger, consolidation,
dissolution or liquidation; 
 (x)    any Restricted Subsidiary that is not a Subsidiary Guarantor (other
than a Non-Recourse Entity) may convey, sell, lease or otherwise dispose of all or any part of its property or assets to, or merge or consolidate with and into, or be dissolved or liquidated into, the Borrower
or any other Restricted Subsidiary, in each case so long as (A) no Event of Default shall result therefrom, (B) in the case of any such merger, consolidation, dissolution or liquidation involving the Borrower, the Borrower is the surviving
or continuing entity of any such merger, consolidation, dissolution or liquidation and (C) in the case of any such merger, consolidation, dissolution or liquidation involving a Subsidiary Guarantor (but not involving the Borrower), such
Subsidiary Guarantor is the surviving or continuing entity of any such merger, consolidation, dissolution or liquidation; 

(xi)    Permitted Acquisitions may be consummated in accordance with the requirements of
Section 6.05(xii); 
 (xii)    the Borrower and the Restricted Subsidiaries may liquidate or
otherwise dispose of Cash Equivalents in the ordinary course of business for cash or Cash Equivalents; 

  
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 (xiii)    sales, contributions, assignments or other
transfers in the ordinary course of business and for Fair Market Value of Servicing Advances or Residential Mortgage Loans pursuant to the terms of Permitted Funding Indebtedness or Non-Recourse Indebtedness
shall be permitted; 
 (xiv)    to the extent that any MSR Lender which is a Government Sponsored Entity
exercises its MSR Call Option, the Borrower or the applicable Restricted Subsidiary may sell the MSR subject to such MSR Call Option; 

(xv)    [reserved]; 

(xvi)    sales, contributions, assignments or other transfers (in one or more transactions) for Fair Market
Value of Servicing Advances, Residential Mortgage Loans or MSR or any parts thereof (a) in the ordinary course of business, (b) in connection with the transfer or termination of the related MSRs or (c) in connection with Excess Spread
Sales in the ordinary course of business shall be permitted; 
 (xvii)    sales, contributions,
assignments or other transfers in the ordinary course of business and for Fair Market Value of Servicing Advances, Residential Mortgage Loans or MSRs to Securitization Entities and Warehouse Facility Trusts in connection with Securitizations or
Warehouse Facilities shall be permitted; 
 (xviii)    sales, contributions, assignments or other
transfers of Investments or other assets and disposition or compromise of loans or other receivables, in each case, in connection with the workout, compromise, settlement or collection thereof or exercise of remedies with respect thereto, in the
ordinary course of business or in bankruptcy, foreclosure or similar proceedings, including foreclosure, repossession and disposition of REO Assets and other collateral for loans serviced and/or originated by the Borrower or any of the Restricted
Subsidiaries shall be permitted; 
 (xix)    the modification of any loans owned by the Borrower or any
of the Restricted Subsidiaries in the ordinary course of business shall be permitted; 
 (xx)    sales,
contributions, assignments or other transfers of Securitization Assets in the ordinary course of business and for Fair Market Value by the Borrower or any of the Restricted Subsidiaries in connection with the origination, acquisition, securitization
and/or sale of loans that are purchased, insured, guaranteed, or securitized shall be permitted; 

(xxi)    sales, contributions, assignments or other transfers in the ordinary course of business of MSRs in
connection with MSR Facilities and Warehouse Facilities and of REO Assets shall be permitted; 

(xxii)    sales, contributions, assignments or other transfers of Residual Interests after the Closing Date
in the ordinary course of business and for Fair Market Value shall be permitted; provided that the Fair Market Value of Residual Interests sold, contributed, assigned or otherwise transferred pursuant to this clause (xxii) shall not
exceed $60,000,000 in the aggregate; 
 (xxiii)    sales or other transfers of a minority interest in any
Investment otherwise permitted under Section 6.05; provided that the majority interests in such Investment shall also be concurrently sold or transferred on the same terms and the holder or holders of such majority interests shall have
required such sale or disposition of such minority interest pursuant to the exercise of any applicable drag-along rights; 

  
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 (xxiv)    the Borrower and each Restricted Subsidiary may
contribute assets to any joint venture in exchange for Equity Interests in such joint venture; provided (x) such transaction is on an arm’s length basis, (y) the Borrower or such Restricted Subsidiary, as applicable, receives
fair value for the assets so contributed and (z) such contributions shall constitute, on the date of such contribution, an Investment by the Borrower or such Restricted Subsidiary, as applicable, in an amount equal to the fair market value of
the assets so contributed; provided further, that such contributions may only be made to the extent permitted by Section 6.05; 

(xxv)    sales, contributions, assignments or other transfers of any assets or rights required or advisable
as a result of statutory or regulatory changes as determined in good faith by the senior management of the Borrower; 

(xxvi)    sales, contributions, assignments or other transfers of Equity Interests of an Unrestricted
Subsidiary; 
 (xxvii)    sales, contributions, assignments or other transfers of the RMS Business, so
long as (A) no Event of Default then exists or would result therefrom and (B) the Borrower delivers or causes to be delivered an opinion stating that such transaction is fair to the Borrower or such Restricted Subsidiary from a financial
point of view from an accounting, appraisal, investment banking firm or consultant of nationally recognized standing that is, in the good faith judgment of the Borrower, qualified to perform the task for which it has been engaged and that is
independent of the Borrower and its Affiliates; and 
 (xxviii)    to the extent constituting a merger or
consolidation, or conveyance, sale, lease or other disposal, the Borrower and its Restricted Subsidiaries may consummate the Transactions. 
 For the
avoidance of doubt, any sale, contribution, assignment or other transfer otherwise permitted pursuant to Section 6.02(xiii), (xvi) or (xvii) shall not be deemed to be for less than Fair Market Value solely because such sale, contribution,
assignment or transfer was made at a discount to par. 
 To the extent the Required Lenders waive the provisions of this Section 6.02 with respect to
the sale of any Collateral, or any Collateral is sold as permitted by this Section 6.02 (other than to the Borrower or a Restricted Subsidiary), such Collateral shall be sold free and clear of the Liens created by the Security Documents and, in
the case of the sale of all of the Equity Interests of a Subsidiary Guarantor permitted by this Section 6.02 (other than to the Borrower or a Restricted Subsidiary), such Subsidiary Guarantor shall be released from the Subsidiaries Guaranty,
and the Administrative Agent and the Collateral Agent shall be authorized without any further action on behalf of any Lender or other Secured Creditor to take any actions deemed appropriate in order to effect the foregoing release. 

Section 6.03    Dividends. The Borrower will not, and will not permit any of the Restricted
Subsidiaries to, directly or indirectly, authorize, declare or pay any Dividends with respect to the Borrower or any Restricted Subsidiary, except that: 

(i)    any Restricted Subsidiary may pay Dividends to the Borrower or to any Wholly-Owned Domestic
Restricted Subsidiary and any Subsidiary of the Borrower that is not a Credit Party may pay Dividends to any Wholly-Owned Restricted Subsidiary; 

  
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 (ii)    any
Non-Wholly-Owned Restricted Subsidiary may pay Dividends to its shareholders, members or partners generally so long as the Borrower or a Restricted Subsidiary which owns the Equity Interests in the Restricted
Subsidiary paying such Dividends receives at least its proportionate share thereof (based upon its relative holding of the Equity Interests in the Restricted Subsidiary paying such Dividends and taking into account the relative preferences, if any,
of the various classes of Equity Interests of such Restricted Subsidiary); 
 (iii)    the Borrower may
redeem, repurchase or otherwise acquire for value, outstanding shares of its Qualified Equity Interests (or options or warrants to purchase its Qualified Equity Interests) following the death, disability or termination of employment of officers,
directors or employees of the Borrower or any Restricted Subsidiary, provided that (x) the aggregate amount of all Dividends paid or made pursuant to this clause (iii) shall not exceed $10,000,000 in any fiscal year of the Borrower and
(y) at the time of any Dividend permitted to be made pursuant to this clause (iii), no Default or Event of Default shall then exist or would result therefrom; 

(iv)    the Borrower may pay Dividends on its Qualified Equity Interests solely through the issuance of
additional shares of Qualified Equity Interests of the Borrower (but not in cash), provided that in lieu of issuing additional shares of Qualified Equity Interests as Dividends, the Borrower may increase the liquidation preference of the
shares of Qualified Equity Interests in respect of which such Dividends have accrued; 
 (v)    to the
extent constituting a Dividend, the Borrower and its Restricted Subsidiaries may consummate the Transactions; and 

(vi)    to the extent constituting a Dividend, the making of any Dividends on or after the Closing Date as
required by the Plan of Reorganization, the Confirmation Order or any documents, instruments or agreements contemplated thereby, including any Dividend in connection with (A) the conversion of the Convertible Preferred Stock and (B) the
exercise of the Closing Date Warrants. 
 Section 6.04    Indebtedness. The Borrower will not, and
will not permit any of the Restricted Subsidiaries to, contract, create, incur, assume or suffer to exist any Indebtedness, except: 

(i)    Indebtedness incurred pursuant to this Agreement and the other Credit Documents; 

(ii)    Existing Indebtedness outstanding on the Closing Date and listed on Schedule 6.04 (as reduced by
any permanent repayments of principal thereof) and, in each case, any subsequent extension, renewal or refinancing thereof, provided that the aggregate principal amount of the Indebtedness to be extended, renewed or refinanced does not
increase from that amount outstanding (or, in the case of a revolving line of credit, the amount committed on the Closing Date (as reduced by any permanent commitment reductions thereunder)) at the time of any such extension, renewal or refinancing,
and neither the final maturity nor the Weighted Average Life to Maturity of such Indebtedness is decreased, such Indebtedness, if subordinated to the Obligations, remains so subordinated on terms no less favorable to the Lenders, and the original
obligors in respect of such Indebtedness remain the only obligors thereon; 
 (iii)    Indebtedness of
the Borrower and the Restricted Subsidiaries under Interest Rate Protection Agreements or Other Hedging Agreements, so long as the entering into of such Interest Rate Protection Agreements or Other Hedging Agreements are bona fide hedging
activities and are not for speculative purposes; 

  
 86 

 (iv)    Indebtedness of the Borrower and the Restricted
Subsidiaries evidenced by Capitalized Lease Obligations and purchase money Indebtedness described in Section 6.01(vii), provided that in no event shall the sum of the aggregate principal amount of all Capitalized Lease Obligations and
purchase money Indebtedness permitted by this clause (iv) exceed $25,000,000 at any time outstanding; 

(v)    Indebtedness constituting Intercompany Loans to the extent permitted by Section 6.05(viii);

 (vi)    Indebtedness consisting of guaranties or other Contingent Obligations (x) by the Borrower
and the Wholly-Owned Restricted Subsidiaries that are Subsidiary Guarantors of each other’s Indebtedness and other obligations permitted under this Agreement (other than guaranties of Non-Recourse
Indebtedness, Permitted Funding Indebtedness or any Indebtedness permitted under Section 6.04(xvii); provided that the Borrower (but no other Credit Party) may, on an unsecured basis, guarantee the Permitted Funding Indebtedness of a
Subsidiary Guarantor), (y) by Wholly-Owned Restricted Subsidiaries that are not Credit Parties of each other’s Indebtedness or other contractual obligations permitted under this Agreement (in each case other than guaranties of Non-Recourse Indebtedness or Securitization Indebtedness) and (z) of Indebtedness and other obligations (including any Permitted Funding Indebtedness) so long as such guaranty or other Contingent Obligation is
otherwise permitted as an Investment under Section 6.05 (other than Section 6.05(xi)); 

(vii)    Indebtedness of a Restricted Subsidiary acquired pursuant to a Permitted Acquisition (or
Indebtedness assumed at the time of a Permitted Acquisition of an asset securing such Indebtedness), provided that (x) such Indebtedness was not incurred in connection with, or in anticipation or contemplation of, such Permitted
Acquisition, (y) such Indebtedness is not guaranteed in any respect by the Borrower or any Restricted Subsidiary (other than any acquired Person that becomes a Restricted Subsidiary) and (z) the aggregate principal amount of all
Indebtedness permitted by this clause (vii) (other than Permitted Funding Indebtedness) shall not exceed $50,000,000; 

(viii)    Indebtedness arising from the honoring by a bank or other financial institution of a check, draft
or similar instrument drawn against insufficient funds in the ordinary course of business, so long as such Indebtedness is extinguished within three Business Days of its incurrence; 

(ix)    Indebtedness of the Borrower and the Restricted Subsidiaries with respect to performance bonds,
surety bonds, appeal bonds or customs bonds required in the ordinary course of business or in connection with the enforcement of rights or claims of the Borrower or any Restricted Subsidiary or in connection with judgments that do not result in a
Default or an Event of Default; 
 (x)    Indebtedness of the Borrower or any Restricted Subsidiary which
may be deemed to exist in connection with customary agreements providing for indemnification, purchase price adjustments and similar obligations in connection with the acquisition or disposition of assets in connection with transactions otherwise
permitted hereunder, so long as any such obligations are those of the Person making the respective acquisition or sale, and are not guaranteed by any other Person except as permitted by Section 6.04(vi); 

(xi)    Permitted Funding Indebtedness; 

  
 87 

 (xii)    Non-Recourse
Indebtedness; 
 (xiii)    to the extent constituting Indebtedness, Indebtedness under Excess Spread
Sales incurred in the ordinary course of business; 
 (xiv)    (A) Indebtedness of the Borrower or any
Restricted Subsidiary which may be deemed to exist pursuant to earn-out arrangements upon the achievement of certain future performance goals of the respective Acquired Entity in connection with Permitted
Acquisitions, so long as any such obligations are those of the Person making the respective Permitted Acquisition and are not guaranteed by any other Person except as permitted by Section 6.04(vi) and (B) any Indebtedness of the Borrower
or any Restricted Subsidiary which may be deemed to exist pursuant to any deferred purchase price, installment payment or similar arrangement in connection with the purchase of MSR, Servicing Advances, REO Assets, servicing rights, Residual
Interests Excess Spreads, residential or commercial mortgage loans or Securitization Assets, provided such Indebtedness is on terms consistent with standards acceptable to the industry; 

(xv)    [reserved]; 

(xvi)    [reserved]; 

(xvii)    Indebtedness of any Restricted Subsidiary that is a general partner of a Permitted Fund solely as
a result of such Restricted Subsidiary being a general partner of a Permitted Fund but only so long as such Restricted Subsidiary is in compliance with Section 6.13; 

(xviii)    Permitted Securitization Indebtedness and Indebtedness under Credit Enhancement Agreements, in
each case incurred in the ordinary course of business; 
 (xix)    so long as no Default or Event of
Default then exists or would result therefrom, additional unsecured Indebtedness incurred by the Borrower and the Restricted Subsidiaries (other than a Non-Recourse Entity) in an aggregate principal amount not
to exceed $50,000,000 at any one time outstanding; 
 (xx)    Indebtedness consisting of undrawn letters
of credit and reimbursement obligations with respect to letters of credit issued for the benefit of the Borrower or any Restricted Subsidiary; provided that the aggregate face amount of all such letters of credit at any time outstanding shall not
exceed L/C Cap; 
 (xxi)    Permitted External Refinancing Debt of any Credit Party, and any Permitted
Refinancing thereof; and 
 (xxii)    Indebtedness of the Credit Parties in respect of the Second Lien
Senior Subordinated PIK Toggle Notes in an aggregate principal amount of up to $250,000,000 plus the amount of any increase in the outstanding principal amount thereof as a result of the issuance of PIK Interest (as defined in the Second Lien Senior
Subordinated PIK Toggle Notes Indenture) in connection therewith, in each case, at any time outstanding, less the aggregate amount of any principal payments made thereon (other than in connection with a Permitted Refinancing thereof), and any
Permitted Refinancing thereof. 

  
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 Section 6.05    Advances, Investments and Loans. The
Borrower will not, and will not permit any of the Restricted Subsidiaries to, directly or indirectly, make or permit to exist any advance, loan, extension of credit (by way of guaranty or otherwise) or capital contribution to, or purchase, hold or
acquire any Equity Interest, bonds, notes, debentures, evidence of indebtedness or other securities of, or acquire any assets constituting all or substantially all of the assets of or assets constituting all or substantially all of the assets of a
business, division or product line of, or make or permit to exist any investment or any other interest in, any Person (each of the foregoing an “Investment” and, collectively, “Investments”), except that the
following shall be permitted: 
 (i)    the Borrower and the Restricted Subsidiaries may acquire and hold
accounts or notes receivables owing to any of them, if created or acquired in the ordinary course of business; 

(ii)    the Borrower and the Restricted Subsidiaries may acquire and hold cash and Cash Equivalents; 

(iii)    [reserved]; 

(iv)    the Borrower and the Restricted Subsidiaries may acquire and own REO Assets and other investments
(including debt obligations) received in connection with the bankruptcy or reorganization of suppliers and customers and in good faith settlement of delinquent obligations of, and other disputes with, customers and suppliers arising in the ordinary
course of business; 
 (v)    the Borrower and the Restricted Subsidiaries may make loans and advances to
their officers and employees in the ordinary course of business (including for travel, entertainment and relocation expenses) in an aggregate amount not to exceed $3,500,000 at any time outstanding; 

(vi)    the Borrower and the Restricted Subsidiaries may acquire and hold obligations of their officers and
employees in connection with such officers’ and employees’ acquisition of shares of Qualified Equity Interests of the Borrower (so long as no cash is actually advanced by the Borrower or any Restricted Subsidiary in connection with the
acquisition of such obligations); 
 (vii)    the Borrower and the Restricted Subsidiaries may enter into
Interest Rate Protection Agreements and Other Hedging Agreements to the extent permitted by Section 6.04(iii); 

(viii)    (A) the Borrower and the Subsidiary Guarantors may make intercompany loans and advances between
or among one another and (B) any Restricted Subsidiary which is not a Credit Party may make intercompany loans and advances to the Borrower or a Wholly-Owned Restricted Subsidiary (such intercompany loans and advances referred to in preceding
clauses (A) and (B), collectively, the “Intercompany Loans”), provided that (v) each Intercompany Loan made by a Credit Party shall be evidenced by an Intercompany Note, (w) each such Intercompany Note owned or
held by a Credit Party shall be pledged to the Collateral Agent pursuant to the Pledge Agreement, (x) each Intercompany Loan made by any Restricted Subsidiary that is not a Credit Party to a Credit Party shall be subject to the subordination
provisions contained in the Intercompany Subordination Agreement and (y) any Intercompany Loans made to any Subsidiary Guarantor or any Wholly-Owned Restricted Subsidiary pursuant to this clause (viii) shall cease to be permitted by this
clause (viii) if such Subsidiary Guarantor or Wholly-Owned Restricted Subsidiary, as the case may be, ceases to constitute a Subsidiary Guarantor that is a Wholly-Owned Domestic Restricted Subsidiary or a Wholly-Owned Restricted Subsidiary, as
the case may be; 

  
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 (ix)    (A) the Borrower and any Subsidiary Guarantor may
make capital contributions to, or acquire Equity Interests of, any Subsidiary Guarantor which is a Wholly-Owned Restricted Subsidiary and (B) any Restricted Subsidiary which is not a Credit Party may make capital contributions to, or acquire
Equity Interests of, any other Wholly-Owned Restricted Subsidiary, and may capitalize or forgive any Indebtedness owed to it by a Wholly-Owned Restricted Subsidiary; 

(x)    the Borrower and the Restricted Subsidiaries may own the Equity Interests of their respective
Restricted Subsidiaries created or acquired in accordance with the terms of this Agreement (so long as all amounts invested in such Restricted Subsidiaries are independently justified under another provision of this Section 6.05); 

(xi)    Contingent Obligations permitted by Section 6.04, to the extent constituting Investments; 

(xii)    the Borrower or any Restricted Subsidiary may acquire all or substantially all the assets of a
Person or line of business or business unit of such Person, or not less than the majority of the Equity Interests of a Person (referred to herein as the “Acquired Entity”; and any acquisition of an Acquired Entity meeting all the
criteria of this Section 6.05(xii) being referred to herein as a “Permitted Acquisition”)); provided that (A) no Default or Event of Default shall have occurred and be continuing at the time of the consummation of
the proposed acquisition or immediately after giving effect thereto, (B) calculations are made by the Borrower for the respective Calculation Period on a Pro Forma Basis as if the respective acquisition (as well as all other Subject
Transactions theretofore consummated after the first day of such Calculation Period) had occurred on the first day of such Calculation Period, and such calculations shall show that the Borrower shall have been in compliance with the Financial
Covenants as of the last day of such Calculation Period on a Pro Forma Basis, (C) in the case of any acquisition with respect to which the aggregate consideration (including any Indebtedness that is assumed by the Borrower or any
Restricted Subsidiary following such acquisition and any payments following such acquisition pursuant to earn-out provisions or similar obligations) to be incurred is expected to be $25,000,000 or more, the
Borrower shall have delivered to the Administrative Agent a certificate executed by an Authorized Officer, certifying to the best of such officer’s knowledge, compliance with the requirements of preceding clauses (A) and (B), inclusive,
and containing the calculations (in reasonable detail) required to establish compliance with preceding clause (B), (D) the Acquired Entity shall be in a business permitted by Section 6.13 and (E) the Borrower will cause each Restricted
Subsidiary (except any Excluded Subsidiary) which is formed to effect, or is acquired pursuant to, such acquisition to comply with, and to execute and deliver all of the documentation as and to the extent required by, Section 5.12 and 6.14;
provided further that the aggregate amount of such consideration paid or provided by or on behalf of any Credit Party (including any Indebtedness incurred or assumed by any such Person to finance any portion of such consideration) at any time
after the Closing Date in reliance on this Section 6.05(xii) attributable to acquisitions of Persons that do not become Credit Parties or of assets by Subsidiaries that are not or do not become Credit Parties (including as a result of a merger
or consolidation) shall not exceed the amount otherwise available for Investments in Restricted Subsidiaries that are not Credit Parties under this Section 6.05; 

(xiii)    the Borrower and the Restricted Subsidiaries may receive and hold promissory notes and other non-cash consideration received in connection with any asset sale permitted by Section 6.02(iv); 

  
 90 

 (xiv)    the Borrower and the Restricted Subsidiaries may in
the ordinary course of business make advances in the form of a prepayment of expenses to vendors, suppliers and trade creditors, so long as such expenses were incurred in the ordinary course of business of the Borrower or such Restricted Subsidiary;

 (xv)    Investments by the Borrower or any Restricted Subsidiary in Securitization Entities, Warehouse
Facility Trusts, MSR Facility Trusts, Investments in mortgage-related securities or charge-off receivables, in each case (a)(I) consistent with past practices or (II) generally accepted market standards
and in the ordinary course of business or (b) the Borrower shall be in compliance with the Financial Covenants, determined on a Pro Forma Basis for the applicable Calculation Period; 

(xvi)    Investments arising out of purchases (a)(I) consistent with past practices or (II) generally
accepted market standards and in the ordinary course of business or (b) the Borrower shall be in compliance with the Financial Covenants, determined on a Pro Forma Basis for the applicable Calculation Period, of all remaining outstanding
asset-backed securities of any Securitization Entity and/or Securitization Assets of any Securitization Entity; 

(xvii)    Investment in MSRs (including in the form of repurchases of MSRs), in each case (a)(I) consistent
with past practices or (II) generally accepted market standards and in the ordinary course of business or (b) the Borrower shall be in compliance with the Financial Covenants, determined on a Pro Forma Basis for the applicable
Calculation Period; 
 (xviii)    Investments in Residual Interests in connection with any
Securitization, Warehouse Facility or MSR Facility, in each case (a)(I) consistent with past practices or (II) generally accepted market standards and in the ordinary course of business or (b) the Borrower shall be in compliance with the
Financial Covenants, determined on a Pro Forma Basis for the applicable Calculation Period; 

(xix)    Investments in and making or origination of Servicing Advances, residential or commercial mortgage
loans and Securitization Assets (whether or not made in conjunction with the acquisition of MSRs) (including in the form of repurchases of any of the foregoing), in each case (a)(I) consistent with past practices or (II) generally accepted
market standards and in the ordinary course of business or (b) the Borrower shall be in compliance with the Financial Covenants, determined on a Pro Forma Basis for the applicable Calculation Period; 

(xx)    the contribution, assignment or other transfer of Equity Interests of an Unrestricted Subsidiary;
provided, that to the extent the transferor of such Equity Interest is a Credit Party, the recipient of such Equity Interests shall also be a Credit Party; 

(xxi)    [reserved]; 

(xxii)    [reserved]; 

(xxiii)    in addition to Investments permitted by clauses (i) through (xxii) of this
Section 6.05, the Borrower and the Restricted Subsidiaries may make additional loans, advances and other Investments to or in a Person (other than a Non-Recourse Entity) in an aggregate amount for all
loans, advances and other Investments made pursuant to this clause (xxiii) (determined without regard to any write-downs or write-offs thereof), net of cash repayments of principal in the case of loans, sale proceeds in the case of Investments in
the form of debt instruments and cash equity returns (whether as a distribution, dividend, redemption or sale) in the case of equity investments, not to exceed $30,000,000; 

  
 91 

 (xxiv)    [reserved]; 

(xxv)    Investments by the Borrower or any Restricted Subsidiary existing on the Closing Date and set
forth on Schedule 6.05; 
 (xxvi)    Investments in connection with or resulting from sales,
contributions, assignments or other transfers pursuant to Section 6.02(xxvii); and 
 (xxvii)    to
the extent constituting an Investment, the consummation of the Transactions. 
 The amount, as of any date of determination, of (i) any
Investment in the form of a loan, advance or extension of credit shall be the principal amount thereof outstanding on such date, minus any cash payments actually received by the applicable investor representing a payment or prepayment of in
respect of principal of such Investment, but without any adjustment for write-downs or write-offs (including as a result of forgiveness of any portion thereof) with respect to such loan, advance or extension after the date of such loan, advance or
extension, (ii) any Investment in the form of a guarantee shall be equal to the stated or determinable amount of the related primary obligation, or portion thereof, in respect of which such guarantee is made or, if not stated or determinable,
the maximum reasonably anticipated liability in respect thereof, as determined in good faith by the Borrower, (iii) any Investment in the form of a transfer of Equity Interests or other non-cash property
by the investor to the investee, including any such transfer in the form of a capital contribution, shall be the Fair Market Value of such Equity Interests or other property as of the time of the transfer or capital contribution, minus any payments
actually received by such investor representing a return of capital of such Investment, but without any other adjustment for increases or decreases in value of, or write-ups, write-downs or write-offs with
respect to, such Investment after the date of such Investment, and (iv) any Investment (other than any Investment referred to in clause (i), (ii) or (iii) above) by the specified Person in the form of a purchase or other acquisition of any
Equity Interests, bonds, notes, debentures, evidences of Indebtedness or other securities of any other Person shall be the original cost of such Investment (including any Indebtedness assumed in connection therewith), minus the amount of any portion
of such Investment that has been repaid to the investor in cash as a repayment of principal or a return of capital, but without any other adjustment for increases or decreases in value of, or write-ups,
write-downs or write-offs with respect to, such Investment after the date of such Investment. 

Section 6.06    Transactions with Affiliates. The Borrower will not, and will not permit any of the
Restricted Subsidiaries to, enter into any transaction or series of related transactions with any Affiliate (other than transactions (a) by and among Credit Parties and (b) by and among Restricted Subsidiaries that are not Credit Parties
and/or (c) by and among Credit Parties and Wholly-Owned Restricted Subsidiaries that are not Credit Parties to the extent that such transactions are in the ordinary course of business and consistent with past practices), other than on terms and
conditions substantially as favorable to the Borrower or such Restricted Subsidiary as would reasonably be obtained by the Borrower or such Restricted Subsidiary at that time in a comparable arm’s-length
transaction with a Person other than an Affiliate, except that the following in any event shall be permitted: 

(i)    Dividends may be paid to the extent provided in Section 6.03; 

(ii)    loans may be made and other transactions may be entered into by the Borrower and the Restricted
Subsidiaries to the extent permitted by Section 6.02, 6.04 and 6.05 so long as, in each case, such loans and other transactions are in the ordinary course of business and consistent with past practice; 

  
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 (iii)    customary fees, indemnities and reimbursements may
be paid to non-officer directors of the Borrower and the Restricted Subsidiaries; 

(iv)    the Borrower and the Restricted Subsidiaries may enter into, and may make payments under,
employment agreements, employee benefits plans, stock option plans, indemnification provisions and other similar compensatory arrangements with officers, employees and directors of the Borrower and the Restricted Subsidiaries in the ordinary course
of business; and 
 (v)    the existence of, or the performance by the Borrower or any of its Restricted
Subsidiaries of its obligations under the terms of, any registration rights agreement, the Second Lien Senior Subordinated PIK Toggle Notes Indenture, the Convertible Preferred Stock or other agreement or instrument entered into in connection with
the Plan of Reorganization to which it is a party as of the Closing Date. 
 Section 6.07    Asset Coverage
Ratios. (a) The Borrower will not permit the Asset Coverage Ratio A, as of the last day of any Test Period ending on the date set forth in the table below, to be less than the ratio set forth opposite such fiscal quarter below: 

 

					
	 Fiscal Quarter Ending
	  	Asset Coverage Ratio A	 
	 December 31, 2017
	  	 	1.40:1.00	 
	 March 31, 2018
	  	 	1.40:1.00	 
	 June 30, 2018
	  	 	1.40:1.00	 
	 September 30, 2018
	  	 	1.40:1.00	 
	 December 31, 2018
	  	 	1.40:1.00	 
	 March 31, 2019
	  	 	1.45:1.00	 
	 June 30, 2019
	  	 	1.45:1.00	 
	 September 30, 2019
	  	 	1.45:1.00	 
	 December 31, 2019 and the last day of each fiscal quarter of the Borrower thereafter
	  	 	1.50:1.00	 

 (b)    The Borrower will not permit the Asset Coverage Ratio B, as of the last day of each
Test Period ending after the Closing Date, to be less than 1.00:1.00. 
 Section 6.08    Interest Expense
Coverage Ratio. The Borrower will not permit the Interest Expense Coverage Ratio, as of the last day of any Test Period ending on the date set forth in the table below, to be less than the ratio set forth opposite such fiscal quarter
below: 
  

					
	 Fiscal Quarter Ending
	  	Interest Expense
Coverage Ratio	 
	 December 31, 2017
	  	 	1.20:1.00	 
	 March 31, 2018
	  	 	1.20:1.00	 
	 June 30, 2018
	  	 	1.20:1.00	 
	 September 30, 2018
	  	 	1.25:1.00	 
	 December 31, 2018
	  	 	1.25:1.00	 
	 March 31, 2019
	  	 	1.75:1.00	 
	 June 30, 2019
	  	 	2.00:1.00	 
	 September 30, 2019
	  	 	2.00:1.00	 
	 December 31, 2019 and the last day of each fiscal quarter of the Borrower thereafter
	  	 	2.25:1.00	 

  
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 Section 6.09    First Lien Net Leverage Ratio. The
Borrower will not permit the First Lien Net Leverage Ratio, as of the last day of any Test Period ending on the date set forth in the table below, to be greater than the ratio set forth opposite such date below: 

 

					
	 Fiscal Quarter Ending
	  	First Lien Net Leverage
Ratio	 
	 December 31, 2017
	  	 	8.50:1.00	 
	 March 31, 2018
	  	 	7.75:1.00	 
	 June 30, 2018
	  	 	7.75:1.00	 
	 September 30, 2018
	  	 	6.75:1.00	 
	 December 31, 2018
	  	 	5.75:1.00	 
	 March 31, 2019
	  	 	5.00:1.00	 
	 June 30, 2019
	  	 	4.50:1.00	 
	 September 30, 2019
	  	 	4.00:1.00	 
	 December 31, 2019 and the last day of each fiscal quarter of the Borrower thereafter
	  	 	3.50:1.00	 

 Section 6.10    Modifications of Certain Agreements. The Borrower will not,
and will not permit any of the Restricted Subsidiaries to, amend, modify, change or waive, or permit the amendment, modification or changing of, any terms of (a) any Permitted External Refinancing Debt or any Permitted Refinancing thereof, if,
after giving effect to such amendment, modification, change or waiver, such Indebtedness would not constitute Permitted External Refinancing Debt or (b) subject to subclause (vii) of this Section 6.10, the Second Lien Senior
Subordinated PIK Toggle Notes Documents or any respective Permitted Refinancing thereof if such amendment, modification, change or waiver (i) could reasonably be expected to materially increase the obligations of the obligors thereunder,
(ii) confers any additional material rights on the holders thereof or any Permitted Refinancing thereof, (iii) decreases the Weighted Average Life to Maturity or shortens the maturity date applicable thereto, (iv) requires additional
prepayments with respect to any event, (v) results in any subordination provisions thereof being less favorable in any respect to the Lenders, including, without limitation, Articles 10 and 12 of the Second Lien Senior Subordinated PIK Toggle
Notes Indenture, (vi) results in an increase in the All-in Yield (payable in cash only) on the Second Lien Senior Subordinated PIK Toggle Notes in effect on the date hereof or (vii) results in an
increase in excess of 2.00% per annum on the rate of interest paid-in-kind on the Second Lien Senior Subordinated PIK Toggle Notes in effect on the date hereof, in each
case, the payment of which is not otherwise permitted hereunder, in each case other than in connection with a Permitted Refinancing thereof. 

Section 6.11    Limitation on Certain Restrictions on Subsidiaries. The Borrower will not, and will not
permit any of the Restricted Subsidiaries to, directly or indirectly, create or otherwise cause or suffer to exist or become effective any encumbrance or restriction on the ability of any such Restricted Subsidiary to (a) pay dividends or make
any other distributions on its capital stock or any other Equity Interest or participation in its profits owned by the Borrower or any Restricted Subsidiary, or pay any Indebtedness owed to the Borrower or any Restricted Subsidiary, (b) make
loans or advances to the Borrower or any Restricted Subsidiary or (c) transfer any of its properties or assets to the Borrower or any Restricted Subsidiary, except for such encumbrances or restrictions existing under or by reason of
(i) applicable law, (ii) this Agreement and the other Credit Documents, (iii) agreements which (x) exist on the Closing Date and (to the extent not otherwise permitted by this Section 6.11) are listed on Schedule 6.11 and
(y) to the extent agreements permitted by preceding sub-clause (x) are set forth in an agreement 

  
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evidencing Indebtedness, are set forth in any agreement evidencing any permitted renewal, extension or refinancing of such Indebtedness so long as such renewal, extension or refinancing does not
expand the scope of the restrictions described in clause (a), (b) or (c) that are contained in such existing agreement, (iv) agreements that are binding on a Restricted Subsidiary at the time such Restricted Subsidiary is acquired by the
Borrower or any Restricted Subsidiary, so long as such agreements were not entered into in contemplation of such Person becoming a Restricted Subsidiary, (v) customary provisions restricting subletting or assignment of any lease governing any
leasehold interest of the Borrower or any Restricted Subsidiary, (vi) customary provisions restricting assignment of any licensing agreement (in which the Borrower or any Restricted Subsidiary is the licensee) or other contract entered into by
the Borrower or any Restricted Subsidiary in the ordinary course of business, (vii) restrictions on the transfer of any asset or any Restricted Subsidiary pending the close of the sale of such asset or such Restricted Subsidiary,
(viii) restrictions on the transfer of any asset subject to a Lien permitted by Section 6.01(iii), (vi), (vii), (xv), (xvi), (xviii), (xix), (xx), (xxv), (xxvii), (xxviii), (xxix), (xxx) and (xxxi); provided that such restrictions
are limited to the applicable individual agreements and/or the property or assets subject to such agreements, (ix) customary provisions applicable to a Securitization Entity; provided that such restrictions are limited to the applicable
individual agreements and/or the property or assets subject to such agreements, (x) provisions in documentation with respect to the Second Lien Senior Subordinated PIK Toggle Notes, Permitted External Refinancing Debt or any Permitted
Refinancing of the foregoing, in each case, so long as such provisions are no more restrictive than the corresponding provisions hereof and (xi) provisions pursuant to the terms of any Permitted Funding Indebtedness or any Non-Recourse Indebtedness providing for financial covenants or limitations on affiliate transactions, mergers, consolidations, transfers of all or substantially all assets or other fundamental changes, in each case
so long as such provisions are determined in good faith by the Borrower to be customary for such financing and the applications of such provisions will not materially affect the ability of the Borrower to pay the principal or interest on the Loans.

 Section 6.12    Limitation on Issuance of Equity Interests. The Borrower will not, and will not
permit any of the Restricted Subsidiaries to, issue (i) any Preferred Equity (other than (x) in the case of the Borrower, Preferred Equity that constitutes Qualified Equity Interests and (y) in the case of any such Restricted
Subsidiary, Preferred Equity issued to the Borrower or a Subsidiary Guarantor) or (ii) any redeemable common stock or other redeemable common Equity Interests other than (x) in the case of the Borrower, common Qualified Equity Interests
and (y) in the case of any such Restricted Subsidiary, common stock or other redeemable common Equity Interests that is or are redeemable at the sole option of such Restricted Subsidiary. 

Section 6.13    Business; Etc. The Borrower will not, and will not permit any of the Restricted
Subsidiaries to, engage directly or indirectly in any business other than the businesses engaged in by the Borrower and the Restricted Subsidiaries as of the Closing Date and reasonable extensions and developments thereof and businesses reasonably
similar, ancillary or complimentary thereto. 
 Section 6.14    Limitation on Creation of Subsidiaries.
(a) The Borrower will not, and will not permit any of the Restricted Subsidiaries to, establish, create or acquire after the Closing Date any Restricted Subsidiary, provided that the Borrower and its Wholly-Owned Restricted Subsidiaries
(other than Non-Recourse Entities) shall be permitted to establish, create and, to the extent permitted by this Agreement, acquire Wholly-Owned Restricted Subsidiaries, so long as, in each case, (i) the
capital stock or other Equity Interests of such new Restricted Subsidiary are promptly pledged pursuant to, and to the extent required by, the Pledge Agreement and the certificates, if any, representing such stock or other Equity Interests, together
with stock or other appropriate powers duly executed in blank, are promptly delivered to the Collateral Agent, (ii) each such new Wholly-Owned Domestic Restricted Subsidiary (other than an Excluded Subsidiary) promptly executes a counterpart of
the Subsidiaries Guaranty, the Security Agreement and the Pledge Agreement, (iii) each such new Wholly-Owned Domestic Restricted 

  
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Subsidiary (other than any Non-Recourse Entity or Securitization Entities) promptly executes a counterpart of the Intercompany Subordination Agreement and
(iv) each such new Wholly-Owned Domestic Restricted Subsidiary (other than an Excluded Subsidiary), to the extent requested by the Administrative Agent or the Required Lenders, promptly takes all actions required pursuant to Section 5.12.
In addition, each new Wholly-Owned Restricted Subsidiary that is required to execute any Credit Document shall promptly execute and deliver, or cause to be promptly executed and delivered, all other relevant documentation (including opinions of
counsel) of the type described in Section 4.01 as such new Restricted Subsidiary would have had to deliver if such new Restricted Subsidiary were a Credit Party on the Closing Date, in each case to the extent reasonably requested by the
Administrative Agent; provided further that Non-Wholly Owned Subsidiaries may be established, created or acquired in accordance with the requirements of Section 6.14(b). 

(b)    In addition to Restricted Subsidiaries created pursuant to preceding clause (a), the Borrower and the Restricted
Subsidiaries may establish, acquire or create, and make Investments in, Non-Wholly Owned Subsidiaries after the Closing Date as a result of Permitted Acquisitions (subject to the limitations contained in the
definitions thereof) and Investments expressly permitted to be made pursuant to Section 6.05, provided that all of the capital stock or other Equity Interests of each such Non-Wholly Owned
Subsidiary shall be pledged by any Credit Party which owns same as, and to the extent, required by the Pledge Agreement. 

Section 6.15    Prepayments of Other Indebtedness. The Borrower will not, and will not permit any of the
Restricted Subsidiaries to, directly or indirectly, (a) voluntarily or optionally prepay, repurchase, redeem or otherwise optionally or voluntarily satisfy or defease, or make any payment in violation of any subordination terms of, whether in
cash, property, securities or a combination thereof, or otherwise acquire for consideration (including as a result of any asset sale, change of control or similar event or any purchase or assignment pursuant to any provision similar to
Section 9.04(l) hereunder), or set apart any sum for the aforesaid purposes, any Indebtedness constituting Second Lien Senior Subordinated PIK Toggle Notes, Permitted External Refinancing Debt or any Permitted Refinancing thereof, except
(v) pursuant to a Permitted Refinancing thereof and (w) the conversion or exchange of any such Indebtedness to or for Qualified Equity Interests of the Borrower or (b) with respect to the Second Lien Senior Subordinated PIK Toggle
Notes, make (i) any payment of cash interest with respect to more than $200,000,000 of the original principal amount thereof or (ii) any payment of cash interest with respect to amounts accreted to the principal amount thereof by virtue of
payments in kind. 
 ARTICLE 7 

EVENTS OF DEFAULT 

Section 7.01    Events of Default. Upon the occurrence of any of the following specified events (each,
an “Event of Default”): 
 (a)    Payments. (i) Default shall be made in the payment of any
principal of any Loan or the reimbursement with respect to any L/C 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 by acceleration thereof or otherwise or
(ii) default shall be made in the payment of any interest on any Loan or any Fee or L/C Disbursement or any other amount (other than an amount referred to in clause (i)) due under any Credit Document, when and as the same shall become due and
payable, and in the case of this clause (ii) such default shall continue unremedied for a period of three Business Days; or 

(b)    Representations, etc. Any representation, warranty or statement made or deemed made by any Credit Party
herein or in any other Credit Document or in any report, certificate, financial statement or other instrument delivered to the Administrative Agent or any Lender pursuant hereto or thereto shall prove to be untrue in any material respect on the date
as of which made or deemed made or delivered; or 

  
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 (c)    Covenants. The Borrower or any Restricted Subsidiary shall
(i) default in the due performance or observance by it of any term, covenant or agreement contained in Section 5.01(g)(i), 5.04 (with respect to the existence of the Borrower or any material Subsidiary Guarantor), Section 5.05,
Section 5.08, 5.11, 5.18 or Article 6, or (ii) default in the due performance or observance by it of any other term, covenant or agreement contained in this Agreement (other than those set forth in Section 7.01(a) and 7.01(b)) and
such default shall continue unremedied for a period of 30 days after the earlier of (x) written notice thereof to the Borrower by the Administrative Agent or the Required Lenders and (y) knowledge thereof by the Borrower or any Authorized
Officer of the Borrower; or 
 (d)    Default Under Other Agreements. (i) The Borrower or any
Restricted Subsidiary (other than a Securitization Entity that is an Immaterial Subsidiary) shall (x) default in any payment of any Indebtedness (other than the Obligations) beyond the period of grace, if any, provided in an instrument or
agreement under which such Indebtedness was created or (y) default in the observance or performance of any agreement or condition relating to any Indebtedness (other than the Obligations or obligations under any Interest Rate Protection
Agreement or Other Hedging Agreement (it being understood that clause (i)(x) shall only apply to any failure to make any payment in respect of any Interest Rate Protection Agreement or Other Hedging Agreement as a result of such default)) or
contained in any instrument or agreement evidencing, securing or relating thereto, or any other event shall occur or condition exist, the effect of which default or other event or condition is to cause, or to permit the holder or holders of such
Indebtedness (or a trustee or agent on behalf of such holder or holders) to cause, any such Indebtedness to become due, or to require the prepayment, repurchase, redemption or defeasance thereof, prior to its stated maturity, (ii) any
Indebtedness (other than the Obligations or obligations under any Interest Rate Protection Agreement or Other Hedging Agreement (it being understood that clause (i)(x) shall only apply to any failure to make any payment in respect of any Interest
Rate Protection Agreement or Other Hedging Agreement as a result of such event)) of the Borrower or any Restricted Subsidiary shall be declared to be (or shall become) due and payable, or required to be prepaid other than by a regularly scheduled
required prepayment, prior to the stated maturity thereof, provided that it shall not be a Default or an Event of Default under this Section 7.01(d) unless the aggregate principal amount of all Indebtedness as described in preceding
clauses (i) and (ii) is at least $30,000,000; or (iii) any Designated Material Contract shall be terminated by the counterparty thereunder and such Designated Material Contract is not replaced by a comparable commercial contract, to the
extent that failure to replace such Designated Material Contract would reasonably be expected to have a Material Adverse Effect; or 

(e)    Bankruptcy, etc. (i) An involuntary proceeding shall be commenced or an involuntary petition shall be
filed in a court of competent jurisdiction seeking (x) relief in respect of the Borrower or any Restricted Subsidiary (other than a Securitization Entity that is an Immaterial Subsidiary), or of a substantial part of the property or assets of
the Borrower or a Restricted Subsidiary (other than a Securitization Entity that is an Immaterial Subsidiary), under Title 11 of the United States Code, as now constituted or hereafter amended, or any other federal, state or foreign bankruptcy,
insolvency, receivership or similar law, (y) the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official for the Borrower or any Restricted Subsidiary (other than a Securitization Entity that is an
Immaterial Subsidiary) or for a substantial part of the property or assets of the Borrower or a Restricted Subsidiary (other than a Securitization Entity that is an Immaterial Subsidiary) or (z) the
winding-up or liquidation of the Borrower or any Restricted Subsidiary (other than a Securitization Entity that is an Immaterial Subsidiary); and 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; or (ii) the Borrower or any Restricted Subsidiary (other than a Securitization Entity that is an Immaterial Subsidiary) shall (t) voluntarily commence
any proceeding or file any petition seeking relief under Title 11 of the United 

  
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States Code, as now constituted or hereafter amended, or any other federal, state or foreign bankruptcy, insolvency, receivership or similar law, (u) consent to the institution of, or fail
to contest in a timely and appropriate manner, any proceeding or the filing of any petition described in (i) above, (v) apply for or consent to the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official for
the Borrower or any such Restricted Subsidiary or for a substantial part of the property or assets of the Borrower or any such Restricted Subsidiary, (w) file an answer admitting the material allegations of a petition filed against it in any
such proceeding, (x) make a general assignment for the benefit of creditors, (y) become unable, admit in writing its inability or fail generally to pay its debts as they become due or (z) take any action for the purpose of effecting
any of the foregoing; or 
 (f)    ERISA. An ERISA Event shall have occurred that, in the reasonable opinion of
the Required Lenders, when taken together with all other such ERISA Events that have occurred, could reasonably be expected to result in a Material Adverse Effect; or 

(g)    Security Documents. Any of the Security Documents shall cease to be in full force and effect, or shall cease
to give the Collateral Agent for the benefit of the Secured Creditors the Liens, rights, powers and privileges purported to be created thereby (including, without limitation, a perfected security interest in, and Lien on, all of the Collateral
(other than, in the aggregate, immaterial portions of the Collateral), in favor of the Collateral Agent, superior to and prior to the rights of all third Persons (except as permitted by Section 6.01), and subject to no other Liens (except as
permitted by Section 6.01), or any Credit Party shall default in the due performance or observance of any term, covenant or agreement on its part to be performed or observed pursuant to any such Security Document and such default shall continue
beyond the period of grace, if any, specifically applicable thereto pursuant to the terms of such Security Document or the Borrower or any other Credit Party shall assert that any security interest purported to be created by any Security Document is
not a valid, perfected, first priority (except as otherwise expressly provided in this Agreement or such Security Document) security interest in the securities, assets or properties covered thereby; or 

(h)    Guaranties. Any Subsidiaries Guaranty or any provision thereof shall cease to be in full force or effect as
to any Subsidiary Guarantor (except as a result of a release of any Subsidiary Guarantor in accordance with the terms thereof), or any Subsidiary Guarantor or any Person acting for or on behalf of such Subsidiary Guarantor shall deny or disaffirm
such Subsidiary Guarantor’s obligations under the Subsidiaries Guaranty or any Subsidiary Guarantor shall default in the due performance or observance of any term, covenant or agreement on its part to be performed or observed pursuant to the
Subsidiaries Guaranty; or 
 (i)    Judgments. One or more judgments or decrees shall be entered against the
Borrower or any Restricted Subsidiary (other than any Securitization Entity that is an Immaterial Subsidiary) involving in the aggregate for the Borrower and the Restricted Subsidiaries a liability (not paid or to the extent not covered by a
reputable and solvent insurance company) and such judgments and decrees either shall be final and non-appealable or shall not be vacated, discharged or stayed or bonded pending appeal for any period of 30
consecutive days, and the aggregate amount of all such judgments equals or exceeds $30,000,000; or 

(j)    Intercreditor Agreement. Any Intercreditor Agreement shall, in whole or in part, cease to be
effective or cease to be legally valid, binding and enforceable against the holders of any Indebtedness whose Liens are subject to such Intercreditor Agreement; or 

(k)    Change of Control. A Change of Control shall occur; 

  
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 then, and in any such event, and at any time thereafter, if any Event of Default shall then be continuing, the
Administrative Agent may, and upon the written request of the Required Lenders shall, by written notice to the Borrower, take any or all of the following actions (provided that, if an Event of Default specified in Section 7.01(e) shall
occur with respect to the Borrower or any Restricted Subsidiary (other than any Restricted Subsidiary that is (x) an Immaterial Subsidiary, (y) a Securitization Entity or (z) related to the RMS Business), the result which would occur
upon the giving of written notice by the Administrative Agent as specified in clauses (i) and (ii) below shall occur automatically without the giving of any such notice): (i) declare the Commitments terminated, whereupon all Commitments of each
Lender shall forthwith terminate immediately; (ii) declare the principal of and any accrued interest and Fees in respect of all Loans and the Notes and all Obligations owing hereunder and thereunder to be, whereupon the same shall become,
forthwith due and payable without presentment, demand, protest or other notice of any kind, all of which are hereby waived by each Credit Party, anything contained herein or in any other Credit Document to the contrary notwithstanding;
(iii) terminate any Letter of Credit which may be terminated in accordance with its terms; (iv) [reserved]; (v) enforce, as Collateral Agent, all of the Liens and security interests created pursuant to the Security Documents; and
(vi) enforce the Subsidiaries Guaranty. 
 ARTICLE 8 

THE ADMINISTRATIVE AGENT AND THE COLLATERAL
AGENT 
 Each Lender and each Issuing Bank (if any) hereby irrevocably appoints the Administrative Agent and the
Collateral Agent (for purposes of this Article 8, the Administrative Agent and the Collateral Agent are referred to collectively as the “Agents”) its agent and authorizes the Agents to take such actions on its behalf and to exercise
such powers as are delegated to such Agents by the terms of the Credit Documents, together with such actions and powers as are reasonably incidental thereto. Without limiting the generality of the foregoing, the Agents are hereby expressly
authorized to (i) execute any and all documents (including releases) with respect to the Collateral and the rights of the Secured Creditors with respect thereto, as contemplated by and in accordance with the provisions of this Agreement and the
Security Documents and (ii) negotiate, enforce or settle any claim, action or proceeding affecting the Lenders in their capacity as such, at the direction of the Required Lenders, which negotiation, enforcement or settlement will be binding
upon each Lender. Without limiting the generality of the foregoing, the Lenders hereby specifically authorize the Agents to enter into one or more MSR Acknowledgement Agreements in connection with the Agents’ security interest, for the benefit
of the Secured Creditors, in those MSR relating to Residential Mortgage Loans owned or held by the respective owner of the Residential Mortgage Loans to which such MSR relate (in each case to the extent required to do so by such owner). If any
provision hereof permits the Borrower or any Restricted Subsidiary to incur any secured Indebtedness so long as any Liens securing such Indebtedness are subject to an Intercreditor Agreement, then (x) each such Intercreditor Agreement shall be
deemed to also be satisfactory to the Lenders and any Issuing Bank if the same is not objected to in writing by the Required Lenders within five Business Days after notice thereof, (y) each Lender and each Issuing Bank hereby authorizes any
Agent from time to time to enter into and perform its obligations under any such Intercreditor Agreement and (z) following the request of the Borrower, the applicable Agents shall execute such Intercreditor Agreement. Each of the Lenders and
the Issuing Banks acknowledges and agrees that an Agent may also act as the collateral agent or as collateral trustee for the lenders under certain other Indebtedness permitted hereunder and each Lender and the Issuing Bank hereby waives any
conflict of interest, now contemplated or arising hereafter, in connection therewith and agrees not to assert against Credit Suisse or any of its Related Parties any claims, causes of action, damages or liabilities of whatever kind or nature
relating thereto. The Administrative Agent may perform any of its respective duties hereunder by or through its officers, directors, agents, employees or affiliates. 

  
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 The institution serving as the Administrative Agent and/or the Collateral Agent hereunder shall
have the same rights and powers in its capacity as a Lender as any other Lender and may exercise the same as though it were not an Agent, and such bank and its Affiliates may accept deposits from, lend money to and generally engage in any kind of
business with the Borrower or any Subsidiary or other Affiliate thereof as if it were not an Agent hereunder. 
 Neither Agent shall have
any duties or obligations except those expressly set forth in the Credit Documents. Without limiting the generality of the foregoing, (a) neither Agent shall be subject to any fiduciary or other implied duties, regardless of whether a Default
or Event of Default has occurred and is continuing, (b) neither Agent shall have any duty to take any discretionary action or exercise any discretionary powers, except discretionary rights and powers expressly contemplated hereby that such
Agent is instructed in writing to exercise by the Required Lenders (or such other number or percentage of the Lenders as shall be necessary under the circumstances as provided in Section 9.08); provided that no Agent shall be required to
take any action that, in its opinion or the opinion of its counsel, may expose such Agent to liability or that is contrary to any Credit Document or applicable law, including for the avoidance of doubt any action that may be in violation of the
automatic stay under any Debtor Relief Law or that may effect a forfeiture, modification or termination of property of a Defaulting Lender in violation of any Debtor Relief Law, and (c) except as expressly set forth in the Credit Documents,
neither Agent shall have any duty to disclose, nor shall it be liable for the failure to disclose, any information relating to the Borrower or any of the Subsidiaries that is communicated to or obtained by the bank serving as Administrative Agent
and/or Collateral Agent or any of its Affiliates in any capacity. Neither Agent shall be liable for any action taken or not taken by it with the consent or at the request of the Required Lenders (or such other number or percentage of the Lenders as
shall be necessary under the circumstances as provided in Section 9.08) or in the absence of its own gross negligence or willful misconduct. Neither Agent shall be deemed to have knowledge of any Default or Event of Default unless and until
written notice thereof is given to such Agent by the Borrower or a Lender, and neither Agent shall be responsible for or have any duty to ascertain or inquire into (i) any statement, warranty or representation made in or in connection with any
Credit Document, (ii) the contents of any certificate, report or other document delivered thereunder or in connection therewith, (iii) the performance or observance of any of the covenants, agreements or other terms or conditions set forth
in any Credit Document, (iv) the validity, enforceability, effectiveness or genuineness of any Credit Document or any other agreement, instrument or document, or (v) the satisfaction of any condition set forth in Article 4 or elsewhere in
any Credit Document, other than to confirm receipt of items expressly required to be delivered to such Agent. 
 Each Agent shall be
entitled to rely upon, and shall not incur any liability for relying upon, any notice, request, certificate, consent, statement, instrument, document or other writing believed by it to be genuine and to have been signed or sent by the proper Person.
Each Agent may also rely upon any statement made to it orally or by telephone and believed by it to have been made by the proper Person, and shall not incur any liability for relying thereon. Each Agent may consult with legal counsel (who may be
counsel for the 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. 

Each Agent may perform any and all its duties and exercise its rights and powers by or through any one or more
sub-agents appointed by it. Each Agent and any such sub-agent may perform any and all its duties and exercise its rights and powers by or through their respective
Related Parties. The exculpatory provisions of the preceding paragraphs shall apply to any such sub-agent and to the Related Parties of each Agent and any such
sub-agent. 

  
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 Subject to the appointment and acceptance of a successor Agent as provided below, either Agent
may resign at any time by notifying the Lenders, any Issuing Banks and the Borrower. Upon any such resignation, the Required Lenders shall have the right, in consultation with the Borrower, to appoint a successor. If no successor shall have been so
appointed by the Required Lenders and shall have accepted such appointment within 30 days after the retiring Agent gives notice of its resignation, then the retiring Agent may, on behalf of the Lenders and the Issuing Banks, appoint a successor
Agent which shall be a bank with an office in the United States, or an Affiliate of any such bank. If no successor Agent has been appointed pursuant to the immediately preceding sentence by the 30th day after the date such notice of resignation was
given by such Agent, such Agent’s resignation shall become effective and the Required Lenders shall thereafter perform all the duties of such Agent hereunder and/or under any other Credit Document until such time, if any, as the Required
Lenders appoint a successor Administrative Agent and/or Collateral Agent, as the case may be. Upon the acceptance of its appointment as Agent hereunder by a successor, such successor shall succeed to and become vested with all the rights, powers,
privileges and duties of the retiring Agent, and the retiring Agent shall be discharged from its duties and obligations hereunder. The fees payable by the Borrower to a successor Agent shall be the same as those payable to its predecessor unless
otherwise agreed between the Borrower and such successor. After an Agent’s resignation hereunder, the provisions of this Article and Section 9.05 shall continue in effect for the benefit of such retiring Agent, its sub-agents and their respective Related Parties in respect of any actions taken or omitted to be taken by any of them while acting as Agent. 

Each Lender acknowledges that it has, independently and without reliance upon the Agents 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 Agents 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 or any other Credit Document, any related agreement or any document
furnished hereunder or thereunder. 
 Each Lender authorizes and directs the Collateral Agent to enter into each Intercreditor Agreement and
the Security Documents for the benefit of the Lenders and the other Secured Creditors. Each Lender hereby agrees, and each holder of any Note by the acceptance thereof will be deemed to agree, that, except as otherwise set forth herein, any action
taken by the Required Lenders in accordance with the provisions of this Agreement, the First Lien/Second Lien Intercreditor Agreement, any other Intercreditor Agreement or the Security Documents, and the exercise by the Required Lenders of the
powers set forth herein or therein, together with such other powers as are reasonably incidental thereto, shall be authorized and binding upon all of the Lenders. The Collateral Agent is hereby authorized on behalf of all of the Lenders, without the
necessity of any notice to or further consent from any Lender, from time to time prior to an Event of Default, to take any action with respect to any Collateral or Security Documents which may be necessary to perfect and maintain perfected the
security interest in and liens upon the Collateral granted pursuant to the Security Documents. 
 The Lenders hereby authorize the
Collateral Agent, at its option and in its discretion, to release any Lien granted to or held by the Collateral Agent upon any Collateral (i) upon termination of the Commitments and payment and satisfaction of all of the Obligations (other than
inchoate indemnification obligations) at any time arising under or in respect of this Agreement or the Credit Documents or the transactions contemplated hereby or thereby, (ii) constituting property being sold or otherwise disposed of (to
Persons other than the Borrower and its Subsidiaries) upon the sale or other disposition thereof in compliance with Section 6.02, (iii) if approved, authorized or ratified in writing by the Required Lenders (or all of the Lenders hereunder, to
the extent required by Section 9.08) or (iv) as otherwise may be expressly provided in the relevant Security Documents. Upon request by the Administrative Agent at any time, the Lenders will confirm in writing the Collateral Agent’s
authority to release particular types or items of Collateral pursuant to this Article 9. 

  
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 ARTICLE 9 

MISCELLANEOUS 

Section 9.01    Notices; Electronic Communications. 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 facsimile transmission, as follows: 

(a)    if to the Borrower, to Ditech Holding Corporation, Attention of: General Counsel, 3000 Bayport Drive, Suite 1100,
Tampa, Florida 33607 Fax Number 813-281-5635; 

(b)    if to the Administrative Agent, to Credit Suisse AG, Cayman Islands Branch Attention of: Agency Management, Eleven
Madison Avenue, New York, NY 10010, Fax Number 212-322-2291, Email: agency.loanops@credit-suisse.com; 

(c)    if to the Collateral Agent, to Credit Suisse AG, Cayman Islands Branch, Attention of: Loan Operations –
Boutique Management, Eleven Madison Avenue, New York, NY 10010, Fax Number 212-325-8315, Email:
list.ops-collateral@credit-suisse.com; and 
 (d)    if to a Lender, to it at
its address (including email address or facsimile number) in the Assignment and Acceptance pursuant to which such Lender shall have received its Tranche B Term Loans. 

All notices and other communications given to any party hereto in accordance with the provisions of this Agreement shall be deemed to have
been given on the date of receipt if delivered by hand or overnight courier service or sent by facsimile transmission (except that, if not given during the normal business hours of the recipient, shall be deemed to have been given at the opening of
business on the next Business Day for the recipient) or on the date five Business Days after dispatch by certified or registered mail if mailed, in each case delivered, sent or mailed (properly addressed) to such party as provided in this
Section 9.01 or in accordance with the latest unrevoked direction from such party given in accordance with this Section 9.01. As agreed to among the Borrower, the Administrative Agent and the applicable Lenders from time to time, notices
and other communications may also be delivered by e-mail to the e-mail address of a representative of the applicable Person provided from time to time by such Person.

 The Borrower hereby agrees, unless directed otherwise by the Administrative Agent or unless the electronic mail address referred to below
has not been provided by the Administrative Agent to the Borrower, that it will, or will cause the Restricted Subsidiaries to, provide to the Administrative Agent all information, documents and other materials that it is obligated to furnish to the
Administrative Agent pursuant to the Credit Documents or to the Lenders under Article 5, including all notices, requests, financial statements, financial and other reports, certificates and other information materials, but excluding any such
communication that (i) is or relates to a notice pursuant to Section 2.10, (ii) relates to the payment of any principal or other amount due under this Agreement prior to the scheduled date therefor, (iii) provides notice of any
Default or Event of Default under this Agreement or any other Credit Document or (iv) is required to be delivered to satisfy any condition precedent to the effectiveness of this Agreement and/or any Borrowing or other extension of credit
hereunder (all such non-excluded communications being referred to herein collectively as “Communications”), by transmitting the Communications in an electronic/soft medium that is properly
identified in a format acceptable to the Administrative Agent to an electronic mail address as directed by the Administrative Agent. In addition, the Borrower agrees, and agrees to cause the Restricted Subsidiaries, to continue to provide the
Communications to the Administrative Agent or the Lenders, as the case may be, in the manner specified in the Credit Documents but only to the extent requested by the Administrative Agent. 

  
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 The Borrower hereby acknowledges that (a) the Administrative Agent will make available to
the Lenders and any Issuing Bank materials and/or information provided by or on behalf of the Borrower hereunder (collectively, the “Borrower Materials”) by posting the Borrower Materials on Intralinks or another similar electronic
system (the “Platform”) and (b) certain of the Lenders may be “public-side” Lenders (i.e., Lenders that do not wish to receive material non-public information with respect to
the Borrower or its securities) (each, a “Public Lender”). The Borrower hereby agrees that (w) all Borrower Materials that are to be made available to Public Lenders shall be clearly and conspicuously marked “PUBLIC”
which, at a minimum, shall mean that the word “PUBLIC” shall appear prominently on the first page thereof; (x) by marking Borrower Materials “PUBLIC,” the Borrower shall be deemed to have authorized the Administrative Agent
and the Lenders to treat such Borrower Materials as not containing any material non-public information with respect to the Borrower or its securities for purposes of United States federal and state securities
laws (provided, however, that to the extent such Borrower Materials constitute Information, they shall be treated as set forth in Section 9.16); (y) all Borrower Materials marked “PUBLIC” are permitted to be made available through a
portion of the Platform designated as “Public Investor;” and (z) the Administrative Agent shall be entitled to treat any Borrower Materials that are not marked “PUBLIC” as being suitable only for posting on a portion of the
Platform not marked as “Public Investor.” Notwithstanding the foregoing, the following Borrower Materials shall be marked “PUBLIC”, unless the Borrower notifies the Administrative Agent promptly that any such document contains
material non-public information: (1) the Credit Documents and (2) notification of changes in the terms of the Credit Facilities. 

Each Public Lender agrees to cause at least one individual at or on behalf of such Public Lender to at all times have selected the
“Private Side Information” or similar designation on the content declaration screen of the Platform in order to enable such Public Lender or its delegate, in accordance with such Public Lender’s compliance procedures and applicable
law, including United States federal and state securities laws, to make reference to Communications that are not made available through the “Public Side Information” portion of the Platform and that may contain material non-public information with respect to the Borrower or its securities for purposes of United States federal or state securities laws. 

THE PLATFORM IS PROVIDED “AS IS” AND “AS AVAILABLE”. NEITHER THE ADMINISTRATIVE AGENT NOR ANY OF ITS RELATED PARTIES
WARRANTS THE ACCURACY OR COMPLETENESS OF THE COMMUNICATIONS OR THE ADEQUACY OF THE PLATFORM AND EACH EXPRESSLY DISCLAIMS 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 THE ADMINISTRATIVE AGENT OR ANY OF ITS RELATED PARTIES IN CONNECTION WITH THE
COMMUNICATIONS OR THE PLATFORM. IN NO EVENT SHALL THE ADMINISTRATIVE AGENT OR ANY OF ITS RELATED PARTIES HAVE ANY LIABILITY TO ANY CREDIT PARTY, ANY LENDER OR ANY OTHER PERSON FOR DAMAGES OF ANY KIND, WHETHER OR NOT BASED ON STRICT LIABILITY AND
INCLUDING DIRECT OR INDIRECT, SPECIAL, INCIDENTAL OR CONSEQUENTIAL DAMAGES, LOSSES OR EXPENSES (WHETHER IN TORT, CONTRACT OR OTHERWISE) ARISING OUT OF ANY CREDIT PARTY’S OR THE ADMINISTRATIVE AGENT’S TRANSMISSION OF COMMUNICATIONS THROUGH
THE INTERNET, EXCEPT TO THE EXTENT THE LIABILITY OF ANY SUCH PERSON IS FOUND IN A FINAL RULING BY A COURT OF COMPETENT JURISDICTION TO HAVE RESULTED PRIMARILY FROM SUCH PERSON’S GROSS NEGLIGENCE OR WILLFUL MISCONDUCT. 

  
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 The Administrative Agent agrees that the receipt of the Communications by the Administrative
Agent at its e-mail address set forth above shall constitute effective delivery of the Communications to the Administrative Agent for purposes of the Credit Documents. Each Lender agrees that receipt of notice
to it (as provided in the next sentence) specifying that the Communications have been posted to the Platform shall constitute effective delivery of the Communications to such Lender for purposes of the Credit Documents. Each Lender agrees to notify
the Administrative Agent in writing (including by electronic communication) from time to time of such Lender’s e-mail address to which the foregoing notice may be sent by electronic transmission and that
the foregoing notice may be sent to such e-mail address. 
 Nothing herein shall prejudice the right
of the Administrative Agent or any Lender to give any notice or other communication pursuant to any Credit Document in any other manner specified in such Credit Document. 

Section 9.02    Survival of Agreement. All covenants, agreements, representations and warranties made
by the Borrower herein and in the certificates or other instruments prepared or delivered in connection with or pursuant to this Agreement or any other Credit Document shall be considered to have been relied upon by the Lenders and any Issuing Bank
and shall survive the making by the Lenders of the Loans and any issuance of Letters of Credit by any Issuing Bank, regardless of any investigation made by the Lenders or any Issuing Bank or on their behalf, and shall continue in full force and
effect as long as the principal of or any accrued interest on any Loan or any Fee or any other amount payable under this Agreement or any other Credit Document is outstanding and unpaid or any Letter of Credit is outstanding and so long as the
Commitments have not been terminated. The provisions of Sections 2.14, 2.16, 2.20 and 9.05 shall remain operative and in full force and effect regardless of the expiration of the term of this Agreement, the consummation of the transactions
contemplated hereby, the repayment of any of the Loans, the expiration of the Commitments, the expiration of any Letter of Credit, the invalidity or unenforceability of any term or provision of this Agreement or any other Credit Document, or any
investigation made by or on behalf of the Administrative Agent, the Collateral Agent, any Lender or any Issuing Bank. 

Section 9.03    Binding Effect. This Agreement shall become effective when it shall have been executed
by the Borrower, the Agents, the Lenders and any Issuing Bank and when the Administrative Agent shall have received counterparts hereof which, when taken together, bear the signatures of each of the other parties hereto. 

Section 9.04    Successors and Assigns. (a) Whenever in this Agreement any of the parties hereto is
referred to, such reference shall be deemed to include the permitted successors and assigns of such party; and all covenants, promises and agreements by or on behalf of the Borrower, the Administrative Agent, the Collateral Agent, the Issuing Banks
or the Lenders that are contained in this Agreement shall bind and inure to the benefit of their respective successors and assigns. 

(b)    Each Lender may assign to one or more Eligible Assignees all or a portion of its interests, rights and obligations
under this Agreement (including all or a portion of its Commitment and the Loans at the time owing to it), with the prior consent of the Borrower (which consent shall not be unreasonably withheld or delayed) and with notice to the Administrative
Agent; provided, however, that (i) (A) [reserved], (B) the consent of the Borrower (1) shall not be required to any such assignment made (x) to another Lender, an Affiliate of a Lender or a Related Fund of a Lender, (y) [reserved]
or (z) after the occurrence and during the continuance of any Event of Default and (2) shall be deemed to have been given if the Borrower has not responded with five Business Days of a request for such consent), (C) the amount of the
Commitment or Loans of the assigning Lender subject to each such assignment (determined as of the date the Assignment and Acceptance with respect to such assignment is delivered to the Administrative Agent) shall be in an integral multiple of, and
not less than, $1,000,000 in the case of Term Loans (or, if less, the entire remaining amount of such Lender’s Commitment or Loans of the relevant Class); provided that simultaneous assignments by two or more Related Funds shall be
combined 

  
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for purposes of determining whether the minimum assignment requirement is met, (ii) the parties to each assignment shall (A) execute and deliver to the Administrative Agent an
Assignment and Acceptance via an electronic settlement system acceptable to the Administrative Agent or (B) if previously agreed with the Administrative Agent, manually execute and deliver to the Administrative Agent an Assignment and
Acceptance, and, in each case, shall pay to the Administrative Agent a processing and recordation fee of $3,500 (which fee may be waived or reduced in the sole discretion of the Administrative Agent), and (iii) the assignee (other than the
Borrower in connection with assignments contemplated by Section 9.04(l)), if it shall not be a Lender, shall deliver to the Administrative Agent an Administrative Questionnaire (in which the assignee shall designate one or more credit contacts
to whom all syndicate-level information (which may contain material non-public information about the Credit Parties and their Related Parties or their respective securities) will be made available and who may
receive such information in accordance with the assignee’s compliance procedures and applicable laws, including federal and state securities laws) and all applicable forms described in Section 2.20(e). Upon acceptance and recording
pursuant to paragraph (e) of this Section 9.04, from and after the effective date specified in each Assignment and Acceptance, (A) the assignee thereunder shall be a party hereto and, to the extent of the interest assigned by such
Assignment and Acceptance, have the rights and obligations of a Lender under this Agreement and (B) the assigning Lender thereunder shall, to the extent of the interest assigned by such Assignment and Acceptance, be released from its
obligations under this Agreement (and, in the case of an Assignment and Acceptance covering all or the remaining portion of an 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 2.14, 2.16, 2.20 and 9.05, as well as to any Fees accrued for its account and not yet paid); 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 having been a Defaulting Lender. 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 to pay and satisfy in full all payment liabilities then owed by such Defaulting Lender to the Administrative Agent and each Lender hereunder (and interest accrued thereon). 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. 
 (c)    By
executing and delivering an Assignment and Acceptance, the assigning Lender thereunder and the assignee thereunder shall be deemed to confirm to and agree with each other and the other parties hereto as follows: (i) such assigning Lender
warrants that it is the legal and beneficial owner of the interest being assigned thereby free and clear of any adverse claim and that its Commitment and the outstanding balances of its Term Loans, in each case without giving effect to assignments
thereof which have not become effective, are as set forth in such Assignment and Acceptance, (ii) except as set forth in (i) above, such assigning Lender makes no representation or warranty and assumes no responsibility with respect to any
statements, warranties or representations made in or in connection with this Agreement, or the execution, legality, validity, enforceability, genuineness, sufficiency or value of this Agreement, any other Credit Document or any other instrument or
document furnished pursuant hereto, or the financial condition of the Borrower or any Restricted Subsidiary or the performance or observance by the Borrower or any Restricted Subsidiary of any of its obligations under this Agreement, any other
Credit Document or any other instrument or document furnished pursuant hereto; (iii) such assignee represents and warrants that it is an Eligible Assignee legally authorized to enter into such Assignment and Acceptance; (iv) such assignee
confirms that it has received a copy of this Agreement, together with copies of the most recent financial statements referred to in Section 3.05 or delivered pursuant to Section 5.01 and such other documents and information as it has
deemed appropriate to make its own credit analysis and decision to 

  
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enter into such Assignment and Acceptance; (v) such assignee will independently and without reliance upon the Administrative Agent, the Collateral Agent, such assigning Lender 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 this Agreement; (vi) such assignee appoints and authorizes the
Administrative Agent and the Collateral Agent to take such action as agent on its behalf and to exercise such powers under this Agreement as are delegated to the Administrative Agent and the Collateral Agent, respectively, by the terms hereof,
together with such powers as are reasonably incidental thereto; (vii) [reserved]; and (viii) such assignee agrees that it will perform in accordance with their terms all the obligations which by the terms of this Agreement are required to be
performed by it as a Lender. 
 (d)    The Administrative Agent, acting for this purpose as an agent of the Borrower,
shall maintain at one of its offices in The City of New York a copy of each Assignment and Acceptance delivered to it and a register for the recordation of the names and addresses of the Lenders, and the Commitment of, and principal amount (and
stated interest) of the Loans owing to, each Lender pursuant to the terms hereof from time to time (the “Register”). The entries in the Register shall be conclusive and the Borrower, the Administrative Agent, any Issuing Bank, the
Collateral Agent 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 the Borrower, any Issuing Bank, the Collateral Agent and any Lender, at any reasonable time and from time to time upon reasonable prior notice. This Section 9.04(d) shall be construed so that the Loans are at all
times maintained in “registered form” within the meaning of Sections 163(f), 871(h)(2) and 881(c)(2) of the Code. 

(e)    Upon its receipt of, and consent to, a duly completed Assignment and Acceptance executed by an assigning Lender and
an assignee, an Administrative Questionnaire completed in respect of the assignee (if applicable to such assignee), the processing and recordation fee referred to in paragraph (b) above, if applicable, and the written consent of the
Administrative Agent and, if required, the Borrower to such assignment and any applicable forms described in Section 2.20(e), the Administrative Agent shall promptly (i) accept such Assignment and Acceptance and (ii) record the
information contained therein in the Register. Except with respect to assignments to the Borrower pursuant to Section 9.04(l), no assignment shall be effective unless it has been recorded in the Register as provided in this paragraph (e). 

(f)    Each Lender may without the consent of the Borrower or the Administrative Agent sell participations to one or more
banks or other Persons in all or a portion of its rights and obligations under this Agreement (including all or a portion of its Commitment and the Loans owing to it); provided, however, that (i) such Lender’s obligations
under this Agreement shall remain unchanged, (ii) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations, (iii) the participating banks or other Persons shall be entitled to the
benefit of the cost protection provisions contained in Sections 2.14, 2.16 and 2.20 (subject to the requirements and limitations therein, including the requirements under Section 2.20(e) (it being understood that the documentation required
under Section 2.20(e) shall be delivered to the participating Lender)) to the same extent as if they were Lenders (but, with respect to any particular participant, to no greater extent than the Lender that sold the participation to such
participant) and (iv) the Borrower, the Administrative Agent and the Lenders shall continue to deal solely and directly with such Lender in connection with such Lender’s rights and obligations under this Agreement, and such Lender shall
retain the sole right to enforce the obligations of the Borrower relating to the Loans or L/C Disbursements and to approve any amendment, modification or waiver of any provision of this Agreement (other than amendments, modifications or waivers
decreasing any fees payable to such participating bank or Person hereunder or the amount of principal of or the rate at which interest is payable on the Loans in which such participating bank or Person has an interest,

  
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extending any scheduled principal payment date or date fixed for the payment of interest on the Loans in which such participating bank or Person has an interest, increasing or extending the
Commitments in which such participating bank or Person has an interest or releasing any Subsidiary Guarantor (other than in connection with the sale of such Subsidiary Guarantor in a transaction permitted by Section 6.02) or all or
substantially all of the Collateral). To the extent permitted by law, each participating bank or other Person also shall be entitled to the benefits of Section 9.06 as though it were a Lender, provided such participating bank or other Person
agrees to be subject to Section 2.18 as though it were a Lender. Each Lender that sells a participation shall, acting solely for this purpose as a non-fiduciary agent of the Borrower, 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 this Agreement (the “Participant Register”);
provided that no Lender shall have any obligation to disclose all or any portion of the Participant Register to any Person (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 Credit Document) 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 the Borrower, the Lenders and the Administrative
Agent 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. 

(g)    Any Lender or participant may, in connection with any assignment or participation or proposed assignment or
participation pursuant to this Section 9.04, disclose to the assignee or participant or proposed assignee or participant any information relating to the Borrower furnished to such Lender by or on behalf of the Borrower; provided that, prior to
any such disclosure of information designated by the Borrower as confidential, each such assignee or participant or proposed assignee or participant shall execute an agreement whereby such assignee or participant shall agree (subject to customary
exceptions) to preserve the confidentiality of such confidential information on terms no less restrictive than those applicable to the Lenders pursuant to Section 9.16. 

(h)    Any Lender may at any time assign all or any portion of its rights under this Agreement to secure extensions of
credit to such Lender or in support of obligations owed by such Lender (including any such assignment or pledge in support of obligations owed to a Federal Reserve Bank or any other central banking authority); provided that no such assignment
shall release a Lender from any of its obligations hereunder or substitute any such assignee for such Lender as a party hereto. 

(i)    Notwithstanding anything to the contrary contained herein, any Lender (a “Granting Lender”) may
grant to a special purpose funding vehicle (an “SPV”), identified as such in writing from time to time by the Granting Lender to the Administrative Agent and the Borrower, the option to provide to the Borrower all or any part of any
Loan that such Granting Lender would otherwise be obligated to make to the Borrower pursuant to this Agreement; provided that (i) nothing herein shall constitute a commitment by any SPV to make any Loan and (ii) if an SPV elects not
to exercise such option or otherwise fails to provide all or any part of such Loan, the Granting Lender shall be obligated to make such Loan pursuant to the terms hereof. The making of a Loan by an SPV hereunder shall utilize the Commitment of the
Granting Lender to the same extent, and as if, such Loan were made by such Granting Lender. Each party hereto hereby agrees that no SPV shall be liable for any indemnity or similar payment obligation under this Agreement (all liability for which
shall remain with the Granting Lender). In furtherance of the foregoing, each party hereto hereby agrees (which agreement shall survive the termination of this Agreement) that, prior to the date that is one year and one day after the payment in full
of all outstanding commercial paper or other senior indebtedness of any SPV, it will not institute against, or join any other Person in instituting against, such SPV any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings
under the laws of the United States or any State thereof. In 

  
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addition, notwithstanding anything to the contrary contained in this Section 9.04, any SPV may (i) with notice to, but without the prior written consent of, the Borrower and the
Administrative Agent and without paying any processing fee therefor, assign all or a portion of its interests in any Loans to the Granting Lender or to any financial institutions (consented to by the Borrower and Administrative Agent) providing
liquidity and/or credit support to or for the account of such SPV to support the funding or maintenance of Loans and (ii) disclose on a confidential basis any non-public information relating to its Loans
to any rating agency, commercial paper dealer or provider of any surety, guarantee or credit or liquidity enhancement to such SPV. 

(j)    The Borrower shall not assign or delegate any of its rights or duties hereunder without the prior written consent
of the Administrative Agent, each Issuing Bank and each Lender, and any attempted assignment without such consent shall be null and void. 

(k)    [Reserved]. 

(l)    Any Lender may, at any time, assign all or a portion of its rights and obligations under this Agreement in respect
of its Term Loans to the Borrower on a non-pro rata basis through (x) Dutch Auctions open to all Lenders or (y) open market purchases, in each case subject to the following limitations and other
provisions: 
 (i)    no Event of Default has occurred and is continuing at the time such assigned is
entered into or would result therefrom; 
 (ii)    the Borrower will not be entitled to receive, and will
not receive, information provided solely to Lenders by the Administrative Agent or any Lender and will not be permitted to attend or participate in, and will not attend or participate in, meetings or conference calls attended solely by the Lenders
and the Administrative Agent; 
 (iii)    [reserved]; 

(iv)    any Term Loans purchased by the Borrower shall be automatically and permanently cancelled
immediately upon acquisition by the Borrower; 
 (v)    notwithstanding anything to the contrary
contained herein (including in the definitions of “Consolidated Net Income” and “Consolidated EBITDA”) any noncash gains in respect of “cancellation of indebtedness” resulting from the cancellation of any Term Loans
purchased by the Borrower shall be excluded from the determination of Consolidated Net Income and Consolidated EBITDA; 

(vi)    the cancellation of Term Loans in connection with a Dutch Auction or open market purchases shall
not constitute a voluntary or mandatory prepayment for purposes of Section 2.12 or Section 2.13, but the face amount of Term Loans cancelled as provided for in clause (iv) above shall be applied on a pro rata basis to the remaining
scheduled installments of principal due in respect of the Term Loans; 
 (vii)    the Borrower shall
represent and warrant as of the date of any such purchase and assignment that neither the Borrower nor any of its officers has any material non-public information with respect to the Borrower or any of its
Subsidiaries or securities that has not been disclosed to the assigning Lender (other than because such assigning Lender does not wish to receive material non-public information with respect to the Borrower
and its Subsidiaries or securities) prior to such date to the extent such information could reasonably be expected to have a material effect upon, or otherwise be material, to a Term Lender’s decision to assign Term Loans to the Borrower; 

  
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 (viii)    after giving effect to any purchase or assignment
of Term Loans pursuant to this Section 9.04(l), the aggregate amount of all Unrestricted cash and Cash Equivalents of the Borrower and the Restricted Subsidiaries as of such date shall not be less than $15,000,000; and 

(ix)    at the time of the consummation of each purchase and assignment of Term Loans pursuant to this
Section 9.04(l), the Borrower shall have delivered to the Administrative Agent a certificate of an Authorized Officer as to compliance with the preceding clauses (vii) and (viii). 

Section 9.05    Expenses; Indemnity. (a) The Borrower agrees to pay (i) all reasonable out-of-pocket expenses incurred by the Administrative Agent, the Collateral Agent, each Issuing Bank and each Related Party of any of the foregoing Persons in connection with
the preparation, execution, delivery and administration of this Agreement and the other Credit Documents or in connection with any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions hereby or
thereby contemplated shall be consummated) (but limited, with respect to legal expenses, to the reasonable and documented fees, disbursements and other charges of one single firm of primary counsel, one single firm of special counsel and one firm of
additional local counsel for each applicable jurisdiction) and (ii) all out-of-pocket expenses incurred by the Administrative Agent, the Collateral Agent, each
Issuing Bank, each Lender and each Related Party of any of the foregoing Persons in connection with the enforcement or protection of its rights in connection with this Agreement and the other Credit Documents or in connection with the Loans made or
Letters of Credit issued hereunder or in connection with any refinancing or restructuring of the credit arrangements provided under this Agreement in the nature of a “work-out” or pursuant to any
insolvency or bankruptcy proceedings (but limited, with respect to legal expenses, to the reasonable and documented fees, disbursements and other charges of one single firm of primary counsel, one firm of special counsel and one firm of additional
local counsel for each applicable jurisdiction to the Administrative Agent, the Collateral Agent, each Issuing Bank, taken as a whole, and one additional single firm of primary counsel and one firm of additional local counsel for each applicable
jurisdiction to the Lenders, taken as a whole). 
 (b)    The Borrower agrees to indemnify the Administrative Agent, the
Collateral Agent, each Lender, any Issuing Bank, and each Related Party of any of the foregoing Persons (each such Person being called an “Indemnitee”) against, and to hold each Indemnitee harmless from, any and all losses,
penalties, claims, damages, liabilities, obligations, fines and related expenses, including reasonable counsel fees, charges and disbursements (but limited, with respect to legal expenses, to the reasonable and documented fees, disbursements and
other charges of one single firm of primary counsel, one firm of special counsel and one additional firm of local counsel for each applicable jurisdiction for all similarly situated Indemnitees (it being agreed that, in the case of any actual or
perceived conflict of interest between or among any Indemnitees, such Indemnitees shall be deemed not to be similarly situated and each such group of Indemnitees shall be entitled to additional counsel as set forth herein), incurred by or asserted
against any Indemnitee arising out of, in any way connected with, or as a result of or by reason of (i) the execution or delivery of this Agreement or any other Credit Document or any agreement or instrument contemplated thereby, the
performance by the parties thereto of their respective obligations thereunder or the consummation of the Transactions and the other transactions contemplated thereby (including the syndication of the Credit Facilities), (ii) the use of the proceeds
of the Loans or issuance of Letter of Credit, (iii) any claim, litigation, investigation or proceeding relating to any of the foregoing, whether or not any Indemnitee is a party thereto (and regardless of whether such matter is initiated by a
third party or by the Borrower, any other Credit Party or any of their respective Affiliates) or (iv) the actual or alleged presence of or exposure to Hazardous Materials in the indoor or outdoor air, surface water or groundwater or on the
surface or subsurface of any Real Property at any time owned, leased or 

  
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operated by the Borrower or any of its Subsidiaries, the generation, storage, transportation, handling, Release or disposal of Hazardous Materials by the Borrower or any of its Subsidiaries at
any location, whether or not owned, leased or operated by the Borrower or any of its Subsidiaries, the non-compliance by, or liability of or relating to, the Borrower, any of its Subsidiaries or any Real
Property at any time owned, leased or operated by the Borrower or any of its Subsidiaries with, relating to, or under any Environmental Law (including applicable permits thereunder), or any Environmental Claim threatened or asserted against or
relating to the Borrower, any of its Subsidiaries or any Real Property at any time owned, leased or operated by the Borrower or any of its Subsidiaries; 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 primarily from the gross negligence, bad faith or willful misconduct of such
Indemnitee. 
 (c)    To the extent that the Borrower fails to pay any amount required to be paid by it to the
Administrative Agent, the Collateral Agent or any Issuing Bank under paragraph (a) or (b) of this Section (including, without limitation, as a result of entering into of one or more MSR Acknowledgement Agreements), each Lender severally agrees
to pay to the Administrative Agent, the Collateral Agent or such Issuing Bank, as the case may be, such Lender’s pro rata share (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, the Collateral Agent or such Issuing Bank in
its capacity as such. For purposes hereof, a Lender’s “pro rata share” shall be determined based upon its share of the outstanding Term Loans at the time. 

(d)    To the extent permitted by applicable law, the Borrower shall not assert, and hereby waives, any claim against any
Indemnitee, on any theory of liability, for special, indirect, consequential, incidental or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Credit Document or
any agreement or instrument contemplated hereby or thereby, the Transactions, any Loan or any Letter of Credit or the use of the proceeds thereof. 

(e)    All amounts due under this Section 9.05 shall be payable on written demand therefor. 

Section 9.06    Right of Setoff. (a) If an Event of Default shall have occurred and be continuing, each
Lender is hereby authorized at any time and from time to time, except to the extent prohibited by law, without presentment, demand, protest or other notice of any kind to any Credit Party or to any other Person, any such notice being hereby
expressly waived, 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 (including, without limitation, by branches and agencies
of such Lender wherever located) to or for the credit or the account of the Borrower (for the avoidance of doubt, excluding any deposits held by the Borrower in a custodial account for the benefit of a third party or any property which constitutes
Excluded Collateral) against any of and all the obligations of the Borrower now or hereafter existing under this Agreement and other Credit Documents held by such Lender, irrespective of whether or not such Lender shall have made any demand under
this Agreement or such other Credit Document and although such obligations may be unmatured; provided that in the event that any Defaulting Lender shall exercise any such right of setoff, (x) all amounts so set off shall be paid over
immediately to the Administrative Agent for further application in accordance with the provisions of Section 2.24 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 Banks and the Lenders, and (y) 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 under this Section 9.06 are in addition to other rights and remedies (including other rights of setoff) which such Lender may have. 

  
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 (b)    NOTWITHSTANDING THE FOREGOING SUBSECTION (a), AT ANY TIME THAT THE
LOANS OR ANY OTHER OBLIGATION SHALL BE SECURED BY REAL PROPERTY LOCATED IN CALIFORNIA, NO LENDER SHALL EXERCISE A RIGHT OF SETOFF, LIEN OR COUNTERCLAIM OR TAKE ANY COURT OR ADMINISTRATIVE ACTION OR INSTITUTE ANY PROCEEDING TO ENFORCE ANY PROVISION
OF THIS AGREEMENT OR ANY NOTE UNLESS IT IS TAKEN WITH THE CONSENT OF THE REQUIRED LENDERS OR APPROVED IN WRITING BY THE ADMINISTRATIVE AGENT, IF SUCH SETOFF OR ACTION OR PROCEEDING WOULD OR MIGHT (PURSUANT TO CALIFORNIA CODE OF CIVIL PROCEDURE
SECTIONS 580a, 580b, 580d AND 726 OF THE CALIFORNIA CODE OF CIVIL PROCEDURE OR SECTION 2924 OF THE CALIFORNIA CIVIL CODE, IF APPLICABLE, OR OTHERWISE) AFFECT OR IMPAIR THE VALIDITY, PRIORITY OR ENFORCEABILITY OF THE LIENS GRANTED TO THE COLLATERAL
AGENT PURSUANT TO THE SECURITY DOCUMENTS OR THE ENFORCEABILITY OF THE NOTES AND OTHER OBLIGATIONS HEREUNDER, AND ANY ATTEMPTED EXERCISE BY ANY LENDER OF ANY SUCH RIGHT WITHOUT OBTAINING SUCH CONSENT OF THE REQUIRED LENDERS OR THE ADMINISTRATIVE
AGENT SHALL BE NULL AND VOID. THIS SUBSECTION (B) IS FOR THE SOLE BENEFIT OF THE LENDERS AND SHALL NOT AFFORD ANY RIGHT TO, OR CONSTITUTE A DEFENSE AVAILABLE TO, ANY CREDIT PARTY. 

Section 9.07    Applicable Law. THIS AGREEMENT AND THE OTHER CREDIT DOCUMENTS (OTHER THAN LETTERS OF
CREDIT AND AS EXPRESSLY SET FORTH IN OTHER CREDIT DOCUMENTS) AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER OR RELATED TO THIS AGREEMENT OR ANY SUCH OTHER CREDIT DOCUMENTS (INCLUDING, WITHOUT LIMITATION, ANY CLAIMS SOUNDING IN CONTRACT LAW OR
TORT LAW ARISING OUT OF THE SUBJECT MATTER HEREOF) SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK. 

Section 9.08    Waivers; Amendment. (a) No failure or delay of the Administrative Agent, the Collateral
Agent, any Lender or any Issuing Bank in exercising any power or right hereunder or under any other Credit Document and no course of dealing between the Borrower or any other Credit Party and the Administrative Agent, the Collateral Agent, any
Issuing Bank or any Lender shall operate as a waiver thereof, nor shall any single or partial exercise of any such right or power, or any abandonment or discontinuance of steps to enforce such 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 Collateral Agent, any Issuing Bank and the Lenders hereunder and under the other Credit Documents 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 any other Credit Document or consent to any departure by the Borrower or any other Credit Party therefrom shall in any event be effective unless
the same shall be permitted by paragraph (b) below, and then such waiver or consent shall be effective only in the specific instance and for the purpose for which given. No notice or demand on the Borrower in any case shall entitle the Borrower
to any other or further notice or demand in similar or other circumstances. 
 (b)    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 Borrower and the Required Lenders; provided, however, that no such agreement shall (i) decrease the
principal amount of, or extend the maturity of or any scheduled principal payment date or any date for the payment of any interest on any Loan, or waive or excuse any such payment or any part thereof, or decrease the rate of interest on any Loan
(other than as set forth in the definition of “Published LIBO Rate”), without the prior written 

  
 111 

 
consent of each Lender directly adversely affected thereby, (ii) increase or extend the Commitment or decrease or extend the date for payment of any Fees of any Lender without the prior
written consent of such Lender, (iii) amend or modify the pro rata requirements of Section 2.17, the provisions of Section 9.04 or the provisions of this Section or release any Subsidiary Guarantor (other than in connection with the
sale of such Subsidiary Guarantor in a transaction permitted by Section 6.02) or all or substantially all of the Collateral, without the prior written consent of each Lender, (iv) change the provisions of any Credit Document in a manner
that by its terms adversely affects the rights in respect of payments due to Lenders holding Loans of one Class differently from the rights of Lenders holding Loans of any other Class without the prior written consent of Lenders holding a
majority in interest of the outstanding Loans and unused Commitments of each adversely affected Class, (v) modify the protections afforded to an SPV pursuant to the provisions of Section 9.04(i) without the written consent of such SPV or
(vi) reduce the percentage contained in the definition of the term “Required Lenders” without the prior written consent of each Lender; provided further that no such agreement shall amend, modify or otherwise affect the rights
or duties of the Administrative Agent or the Collateral Agent hereunder or under any other Credit Document without the prior written consent of the Administrative Agent or the Collateral Agent. 

(c)    Notwithstanding the foregoing, this Agreement may be amended (or amended and restated) with the written consent of
the Required Lenders, the Administrative Agent and the Borrower (i) to add one or more additional credit facilities to this Agreement and to permit the extensions of credit from time to time thereunder and the accrued interest and fees in
respect thereof to share ratably in the benefits of this Agreement and the other Credit Documents with the Term Loans and the accrued interest and fees in respect thereof, (ii) to include appropriately the Lenders holding such credit facilities
in any determination of the Required Lenders and (iii) to permit any such additional credit facilities which are term facilities to share ratably with the Term Loans in the application of prepayments and to permit any such credit facilities
which are revolving credit facilities to share ratably with any revolving credit facility hereunder in the application of prepayments (it being understood that the foregoing shall not restrict any amendments effected pursuant to an Additional Credit
Extension Amendment). 
 (d)    Notwithstanding anything to the contrary contained in this Section 9.08, the
Borrower and the Administrative Agent may, without the input or consent of any Lender, effect such amendments to this Agreement and the other Credit Documents as may be necessary or appropriate in the opinion of the Administrative Agent to effect
the provisions of Section 2.25, Section 2.26 and Section 2.27. 
 (e)    In addition, notwithstanding the
foregoing, if the Administrative Agent and the Borrower shall have jointly identified an obvious error or any error or omission of a technical or immaterial nature in any provision of the Credit Documents, then the Administrative Agent and the
Borrower 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 Credit Document if the same is not objected to in writing by the Required Lenders within
five Business Days after notice thereof. 
 Section 9.09    Interest Rate Limitation. Notwithstanding
anything herein to the contrary, if at any time the interest rate applicable to any Loan, together with all fees, charges and other amounts which are treated as interest on such Loan under applicable law (collectively the
“Charges”), shall exceed the maximum lawful rate (the “Maximum Rate”) which may be contracted for, charged, taken, received or reserved by the Lender holding such Loan in accordance with applicable law, the rate of
interest payable in respect of such Loan hereunder, together with all Charges payable in respect thereof, shall be limited to the Maximum Rate and, to the extent lawful, the interest and Charges that would have been payable in respect of such Loan
but were not payable as a result of the operation of this Section 9.09 shall be cumulated and the interest and Charges payable to such Lender in respect of other Loans or periods shall be increased (but not above the Maximum Rate therefor)
until such cumulated amount, together with interest thereon at the Federal Funds Effective Rate to the date of repayment, shall have been received by such Lender. 

  
 112 

 Section 9.10    Entire Agreement. This Agreement, the Fee
Letter and the other Credit Documents constitute the entire contract between the parties relative to the subject matter hereof. Any other previous agreement among the parties with respect to the subject matter hereof is superseded by this Agreement
and the other Credit Documents. Nothing in this Agreement or in the other Credit Documents, expressed or implied, is intended to confer upon any Person (other than the parties hereto and thereto, their respective successors and assigns permitted
hereunder (including any Affiliate of any Issuing Bank that issues any Letter of Credit) and, to the extent expressly contemplated hereby, the Related Parties of each of the Administrative Agent, the Collateral Agent, any Issuing Bank and the
Lenders) any rights, remedies, obligations or liabilities under or by reason of this Agreement or the other Credit Documents. 

Section 9.11    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 RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT OR ANY OF THE OTHER CREDIT DOCUMENTS. EACH PARTY HERETO
(A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT
IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE OTHER CREDIT DOCUMENTS, AS APPLICABLE, BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 9.11. 

Section 9.12    Severability. In the event any one or more of the provisions contained in this
Agreement or in any other Credit Document should be held invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein and therein shall not in any way be affected or
impaired thereby (it being understood that the invalidity of a particular provision in a particular jurisdiction shall not in and of itself affect the validity of such provision in any other jurisdiction). The parties shall endeavor in good-faith
negotiations to replace the invalid, illegal or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions. 

Section 9.13    Counterparts. 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, and shall become effective as provided in Section 9.03. Delivery of an executed signature
page to this Agreement by facsimile or other form of electronic transmission shall be as effective as delivery of a manually signed counterpart of this Agreement. 

Section 9.14    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 are not to affect the construction of, or to be taken into consideration in interpreting, this Agreement. 

Section 9.15    Jurisdiction; Consent to Service of Process. (a) The Borrower hereby irrevocably and
unconditionally submits, for itself and its property, to the exclusive jurisdiction of any New York state court or federal court of the United States of America sitting in New York City, and any appellate court from any thereof, in any action or
proceeding arising out of or relating to this Agreement or the other Credit 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 

  
 113 

 
proceeding may be heard and determined in such New York state or, to the extent permitted by law, in such federal court; provided that suit for the recognition or enforcement of any
judgment obtained in any such New York state or federal court may be brought in any other court of competent jurisdiction. 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 the Administrative Agent, the Collateral Agent, any Issuing Bank or any Lender may otherwise have
to bring any action or proceeding relating to this Agreement or the other Credit Documents against the Borrower or its properties in the courts of any jurisdiction. 

(b)    The Borrower hereby irrevocably and unconditionally waives, to the fullest extent it may legally and effectively do
so, any objection which 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 the other Credit Documents in any New York state or federal court. Each of the parties
hereto hereby 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. 

(c)    Each party to this Agreement irrevocably consents to service of process in the manner provided for notices in
Section 9.01. Nothing in this Agreement will affect the right of any party to this Agreement to serve process in any other manner permitted by law. 

Section 9.16    Confidentiality. Each of the Administrative Agent, the Collateral Agent, the Issuing
Banks and the Lenders agrees to maintain the confidentiality of the Information (as defined below), except that Information may be disclosed (a) to its and its Affiliates’ officers, directors, employees and agents, including accountants,
legal counsel and other advisors, and to numbering, administration and settlement service providers (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 or quasi-regulatory authority (such as the National Association of Insurance Commissioners), (c) to the extent required by applicable laws or regulations
or by any subpoena or similar legal process, (d) in connection with the exercise of any remedies hereunder or under the other Credit Documents or any suit, action or proceeding relating to the enforcement of its rights hereunder or thereunder,
(e) subject to an agreement containing provisions substantially the same as those of this Section 9.16 to (i) any actual or prospective assignee of or participant in any of its rights or obligations under this Agreement and the other
Credit Documents (it being agreed that any such actual or prospective assignee or participant shall be deemed to have entered into such an agreement if such assignee or participant “clicks through” or takes other affirmative action to
electronically acknowledge its agreement to any electronic notification containing provisions substantially the same as those in this Section 9.16 in accordance with the standard syndication processes of the Person disclosing such Information
or customary market standards for dissemination of such type of information) or (ii) any actual or prospective counterparty (or its advisors) to any swap or derivative transaction relating to the Borrower or any Restricted Subsidiary or any of
their respective obligations, (f) with the consent of the Borrower or (g) to the extent such Information becomes publicly available other than as a result of a breach of this Section 9.16. For the purposes of this Section,
“Information” shall mean all information received from the Borrower and related to the Borrower or its business, other than any such information that was available to the Administrative Agent, the Collateral Agent, any Issuing Bank
or any Lender on a nonconfidential basis prior to its disclosure by the Borrower; provided that, in the case of Information received from the Borrower after the Closing Date, 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 9.16 shall be considered to have complied with its obligation to do so if such Person has exercised the same degree of care to maintain
the confidentiality of such Information as such Person would accord its own confidential information. 

  
 114 

 Section 9.17    Lender Action. Each Lender agrees that it
shall not take or institute any actions or proceedings, judicial or otherwise, for any right or remedy against any Credit Party or any other obligor under any of the Credit Documents (including the exercise of any right of setoff, rights on account
of any banker’s lien or similar claim or other rights of self-help), or institute any actions or proceedings, or otherwise commence any remedial procedures, with respect to any Collateral or any other property of any such Credit Party, unless
expressly provided for herein or in any other Credit Document, without the prior written consent of the Administrative Agent. The provisions of this Section 9.17 are for the sole benefit of the Lenders and shall not afford any right to, or
constitute a defense available to, any Credit Party. 
 Section 9.18    USA PATRIOT Act Notice. Each
Lender and the Administrative Agent (for itself and not on behalf of any Lender) hereby notifies the Borrower that pursuant to the requirements of the USA PATRIOT Act, it is required to obtain, verify and record information that identifies the
Borrower, which information includes the name and address of the Borrower and other information that will allow such Lender or the Administrative Agent, as applicable, to identify the Borrower in accordance with the USA PATRIOT Act. 

Section 9.19    Amendment and Restatement; No Novation. This Agreement constitutes for all purposes an
amendment and restatement of the Pre-Petition Credit Agreement as authorized by the Bankruptcy Court pursuant to the Plan or Reorganization. The Pre-Petition Credit
Agreement, as amended and restated hereby, continues in full force and effect as so amended and restated by this Agreement. Nothing contained in this Agreement or any other Credit Document shall constitute or be construed as a novation of any of the
Obligations. 
 Section 9.20    Acknowledgement and Consent to Bail-In
of EEA Financial Institutions. Notwithstanding anything to the contrary in any Credit Document or in any other agreement, arrangement or understanding among any such parties, each party hereto acknowledges that any liability of any Lender that
is an EEA Financial Institution arising under any Credit Document, to the extent such liability is unsecured, may be subject to the write-down and conversion powers of an EEA Resolution Authority and agrees and consents to, and acknowledges and
agrees to be bound by: 
 (a)    the application of any Write-Down and Conversion Powers by an EEA Resolution Authority
to any such liabilities arising hereunder which may be payable to it by any party hereto that is an EEA Financial Institution; and 

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

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

[Remainder of Page Intentionally Left Blank; Signature Pages to Follow] 

  
 115 

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

			
	DITECH HOLDING CORPORATION, as Borrower
		
	By:	 	 /s/ Cheryl A. Collins

	Name:	 	Cheryl A. Collins
	Title:	 	Senior Vice President and Treasurer

  
 1 

 
			
	CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, as Administrative Agent and Collateral Agent
		
	By:	 	 /s/ Megan Kane

	Name:	 	Megan Kane
	Title:	 	Authorized Signatory
		
	By:	 	 /s/ Laura Katherine Schembri

	Name:	 	Laura Katherine Schembri
	Title:	 	Authorized Signatory

 Schedule 1.01(a) 

Lenders and Tranche B Term Loans 
  

					
	 Lender
	  	Tranche B Term
Loans as of the
Closing Date	 
	 ICM GLOBAL FLOATING RATE INCOME LIMITED
	  	$	1,655,016.50	 
	 ICM Senior Loan Fund, LP
	  	$	1,655,016.50	 
	 JAMESTOWN CLO II LTD.
	  	$	4,503,578.33	 
	 JAMESTOWN CLO III LTD
	  	$	4,363,386.60	 
	 JAMESTOWN CLO IX LTD.
	  	$	2,857,572.75	 
	 JAMESTOWN CLO V LTD.
	  	$	4,021,576.98	 
	 JAMESTOWN CLO VI LTD.
	  	$	3,203,127.18	 
	 JAMESTOWN CLO VII LTD.
	  	$	3,657,037.19	 
	 JAMESTOWN CLO VIII LTD
	  	$	3,477,272.18	 
	 AMMC CLO 16, LIMITED
	  	$	1,599,653.36	 
	 AMMC CLO XI LIMITED
	  	$	1,542,445.36	 
	 AMMC CLO XII LIMITED
	  	$	1,542,445.37	 
	 AMMC CLO XIII LIMITED
	  	$	744,258.33	 
	 AMMC CLO XIV, LIMITED
	  	$	784,794.99	 
	 BANK OF AMERICA NA
	  	$	19,749,839.42	 
	 BOWERY FUNDING ULC
	  	$	10,085,737.01	 
	 LANDMARK WALL SMA LP
	  	$	4,144,524.38	 
	 LANDMARK WALL SMA SPV L.P.
	  	$	732,065.79	 
	 CANYON BLUE CREDIT INVESTMENT FUND L.P.
	  	$	647,880.27	 
	 CANYON VALUE REALIZATION FUND LP
	  	$	7,225,082.06	 
	 CANYON VALUE REALIZATION MAC 18 LTD
	  	$	224,018.71	 
	 CANYON-ASP FUND LP
	  	$	1,379,157.47	 
	 CANYON-SL VALUE FUND, L.P.
	  	$	404,681.14	 
	 THE CANYON VALUE REALIZATION MASTER FUND LP
	  	$	15,628,098.99	 
	 CATHEDRAL LAKE CLO 2013, LTD
	  	$	2,821,673.00	 
	 CATHEDRAL LAKE II, LTD.
	  	$	1,657,809.74	 
	 CATHEDRAL LAKE III, LTD
	  	$	2,486,714.63	 
	 CATHEDRAL LAKE IV, LTD.
	  	$	2,486,714.63	 
	 Double Black Diamond Offshore Ltd
	  	$	36,769,658.03	 
	 CFIP CLO 2013-1 LTD
	  	$	5,032,313.71	 
	 CFIP CLO 2014-1, LTD
	  	$	5,059,845.97	 
	 CQS ABS MASTER FUND LIMITED
	  	$	16,329,425.58	 
	 CQS AIGUILLE DU CHARDONNET MF SCA SICAV-SIF
	  	$	1,077,576.33	 
	 Credit Suisse Loan Funding LL
	  	$	13,675,599.84	 
	 Atrium VIII
	  	$	2,772,784.80	 
	 ATRIUM IX
	  	$	4,564,782.80	 
	 ATRIUM X
	  	$	2,641,888.93	 

 Schedule 1.01(a) 

 

					
	 Lender
	  	Tranche B Term
Loans as of the
Closing Date	 
	 ATRIUM XI
	  	$	4,182,403.43	 
	 ATRIUM XII
	  	$	3,811,267.25	 
	 AUSTRALIANSUPER
	  	$	7,126,726.64	 
	 BENTHAM SYNDICATED LOAN FUND-1
	  	$	16,511,337.28	 
	 California State Teachers Retirement System-4
	  	$	2,862,798.81	 
	 Commonwealth Pennsylvania Treasury Department
	  	$	606,686.99	 
	 COPPERHILL LOAN FUND I,LLC
	  	$	612,337.01	 
	 CREDIT SUISSE FLOATING RATE HIGH INCOME FUND
	  	$	16,340,622.16	 
	 CREDIT SUISSE FLOATING RATE TRUST
	  	$	1,855,006.40	 
	 CREDIT SUISSE NOVA (LUX) GLOBAL SENIOR LOAN FUND
	  	$	31,796,739.04	 
	 CREDIT SUISSE STRATEGIC INCOME FUND
	  	$	676,861.62	 
	 DOLLAR SENIOR LOAN FUND, LTD.
	  	$	4,455,452.53	 
	 ERIE INDEMNITY COMPANY-2
	  	$	346,990.99	 
	 ERIE INSURANCE EXCHANGE
	  	$	2,469,759.30	 
	 KP FIXED INCOME FUND
	  	$	550,763.13	 
	 MADISON PARK FUNDING X LTD
	  	$	4,515,874.38	 
	 MADISON PARK FUNDING XI, LTD
	  	$	3,345,248.93	 
	 MADISON PARK FUNDING XII, LTD
	  	$	3,186,563.95	 
	 MADISON PARK FUNDING XIII, LTD
	  	$	3,570,066.41	 
	 MADISON PARK FUNDING XIV, LTD
	  	$	4,003,013.31	 
	 MADISON PARK FUNDING XIX, LTD.
	  	$	2,857,572.75	 
	 MADISON PARK FUNDING XV, LTD
	  	$	3,017,596.82	 
	 MADISON PARK FUNDING XVI, LTD.
	  	$	2,673,157.17	 
	 MADISON PARK FUNDING XVII, LTD
	  	$	3,547,248.53	 
	 MADISON PARK FUNDING XVIII, LTD.
	  	$	3,146,990.93	 
	 MADISON PARK FUNDING XX, LTD.
	  	$	2,449,348.08	 
	 MADISON PARK FUNDING XXI, LTD
	  	$	3,360,420.66	 
	 MADISON PARK FUNDING XXII, LTD.
	  	$	3,360,420.65	 
	 MADISON PARK FUNDING XXIV, LTD.
	  	$	3,265,797.43	 
	 MADISON PARK FUNDING XXVI, LTD
	  	$	2,608,447.29	 
	 QUALCOMM GLOBAL TRADING PTE LTD-1
	  	$	0.05	 
	 SENIOR SECURED FLOATING RATE LOAN FUND
	  	$	581,309.95	 
	 STATE OF NEW MEXICO INVESTMENT COUNCIL
	  	$	669,049.85	 
	 THE EATON CORPORATION MASTER RETIREMENT TRUST
	  	$	816,449.36	 
	 WESPATH FUNDS TRUST
	  	$	1,564,746.03	 
	 CUTWATER 2014-1, LTD.
	  	$	3,119,286.50	 
	 CUTWATER 2014-II, LTD.
	  	$	2,342,407.57	 
	 CUTWATER 2015-I, LTD.
	  	$	2,383,979.57	 
	 DEUTSCHE BANK AG, CAYMAN ISLANDS BRANCH
	  	$	8,667,214.89	 
	 VIBRANT CLO II LTD.
	  	$	765,731.12	 

 Schedule 1.01(a) 

 

					
	 Lender
	  	Tranche B Term
Loans as of the
Closing Date	 
	 AGF FLOATING RATE INCOME FUND
	  	$	835,188.45	 
	 BRIGHTHOUSE FUNDS TRUST I - BRIGHTHOUSE/EATON VANCE FLOATING RATE PORTFOLIO
	  	$	3,305,712.10	 
	 Columbia Funds Variable Series Trust II Variable Portfolio -Eaton Vance
	  	$	392,377.97	 
	 COLUMBIA FUNDS VARIABLE SERIES TRUST II VARIABLE PORTFOLIO EATON VANCE FLOATING RATE INCOME
FUND
	  	$	122,467.41	 
	 DAVINCI REINSURANCE LTD-1
	  	$	204,112.33	 
	 Eaton Vance Institutional Senior Loan Fund
	  	$	23,360,279.93	 
	 Eaton Vance Senior Floating Rate Trust
	  	$	3,764,597.80	 
	 Eaton Vance Senior Income Trust
	  	$	1,680,193.74	 
	 Eaton Vance VT Floating Rate Income Fund
	  	$	2,491,631.16	 
	 EATON VANCE FLOATING RATE INCOME TRUST
	  	$	3,876,142.67	 
	 EATON VANCE FLOATING RATE PORTFOLIO
	  	$	40,980,382.38	 
	 EATON VANCE FLOATING-RATE INCOME PLUS FUND
	  	$	896,627.49	 
	 EATON VANCE INTERNATIONAL (CAYMAN ISLANDS) FLOATING-RATE INCOME PORTFOLIO
	  	$	2,431,877.98	 
	 EATON VANCE LIMITED DURATION INCOME FUN
	  	$	4,881,571.72	 
	 EATON VANCE LOAN HOLDING LIMITED
	  	$	81,644.93	 
	 EATON VANCE SHORT DURATION DIVERSIFIED INCOME FUND
	  	$	570,644.83	 
	 FLORIDA POWER & LIGHT COMPANY-1
	  	$	408,224.68	 
	 Pacific Select Fund-Floating Rate Loan Portfolio
	  	$	2,203,788.17	 
	 RENAISSANCE INVESTMENT HOLDINGS LTD
	  	$	361,695.42	 
	 Senior Debt Portfolio
	  	$	33,836,025.94	 
	 EMPYREAN INVESTMENTS LLC
	  	$	9,405,576.67	 
	 FPA Crescent Fund
	  	$	14,956,937.98	 
	 OCEAN TRAILS CLO IV
	  	$	2,755,697.04	 
	 OCEAN TRAILS CLO V
	  	$	780,802.58	 
	 GOLDMAN SACHS LENDING PARTNERS LLC
	  	$	30,845,904.85	 
	 GRAHAM MACRO STRATEGIC LTD.
	  	$	12,433,573.11	 
	 DAVINCI REINSURANCE LTD
	  	$	176,956.74	 
	 HBK Master Fund
	  	$	54,283,333.90	 
	 ACIS CLO 2014-3, LTD
	  	$	1,699,255.00	 
	 ACIS CLO 2014-4, LTD.
	  	$	1,989,371.70	 
	 ACIS CLO 2014-5, LTD
	  	$	2,030,816.93	 
	 ACIS CLO 2015-6 LTD.
	  	$	1,823,590.71	 
	 ACIS CLO 2017-7 LTD.
	  	$	1,284,802.55	 
	 HIGHLAND FLOATING RATE OPPORTUNITIES FUND
	  	$	12,618,243.42	 
	 HIGHLAND GLOBAL ALLOCATION FUND
	  	$	2,486,714.63	 
	 HIGHLAND LOAN MASTER FUND LP
	  	$	1,892,949.16	 
	 HIGHLAND OPPORTUNISTIC CREDIT FUND
	  	$	1,657,809.73	 
	 HIGHLAND PROMETHEUS MASTER FUND, L.P.
	  	$	324,795.93	 

 Schedule 1.01(a) 

 

					
	 Lender
	  	Tranche B Term
Loans as of the
Closing Date	 
	 NEXPOINT CREDIT STRATEGIES FUND
	  	$	4,973,429.24	 
	 PENSIONDANMARK PENSIONSFORSIKRINGSAKTIESELSKAB-2
	  	$	6,637,155.92	 
	 INVESCO WLR CREDIT PARTNERS FUND-A LP
	  	$	667,955.88	 
	 THE CITY OF NEW YORK GROUP TRUST-6
	  	$	4,708,006.03	 
	 JP MORGAN CHASE BANK NATIONAL ASSOCIATION
	  	$	3,290,708.48	 
	 KVK CLO 2013-1, LTD
	  	$	3,934,016.31	 
	 Litman Gregory Masters Alternative Strategies Fund
	  	$	197,594.42	 
	 Marathon CLO IV Ltd
	  	$	3,876,674.79	 
	 Marathon CLO X Ltd.
	  	$	2,678,707.04	 
	 Marathon Currituck Fund, LP - Series A
	  	$	414,452.44	 
	 MAM CORPORATE LOAN FUND
	  	$	994,685.85	 
	 MAM CORPORATE LOAN ICAV
	  	$	1,632,898.72	 
	 MARATHON CLO IX LTD
	  	$	4,898,696.15	 
	 MARATHON CLO V LTD
	  	$	4,605,189.95	 
	 QUAMVIS SCA SICAV-FIS: CMAB - SIF - CREDIT MULTI ASSET
POOL B
	  	$	3,265,797.43	 
	 MERCER QIF FUND PLC IN RESPECT OF MERCER MULTI-ASSET CREDIT FUND
	  	$	3,807,117.76	 
	 VENTURE XII CLO LIMITED
	  	$	2,115,671.11	 
	 VENTURE XIV CLO LIMITED
	  	$	506,897.96	 
	 VENTURE XIX CLO, LIMITED
	  	$	392,377.98	 
	 VENTURE XV CLO LIMITED
	  	$	632,083.71	 
	 VENTURE XVI CLO, LIMITED
	  	$	521,388.30	 
	 VENTURE XVII CLO LIMITED
	  	$	910,024.37	 
	 VENTURE XVIII CLO, LIMITED
	  	$	577,529.73	 
	 VENTURE XX CLO, LIMITED
	  	$	392,377.98	 
	 VENTURE XXI CLO, LIMITED
	  	$	3,139,023.85	 
	 VENTURE XXII CLO, LIMITED
	  	$	1,224,674.04	 
	 AIG FLEXIBLE CREDIT FUND
	  	$	2,552,254.18	 
	 DUNHAM FLOATING RATE BOND FUND
	  	$	1,260,860.71	 
	 NEWFLEET CLO 2016-1, LTD.
	  	$	2,326,880.67	 
	 Virtus Tactical Allocation Fund
	  	$	106,138.42	 
	 VIRTUS GLOBAL MULTI-SECTOR INCOME FUND
	  	$	473,540.63	 
	 VIRTUS NEWFLEET DYNAMIC CREDIT ETF
	  	$	877,683.06	 
	 VIRTUS NEWFLEET MULTI-SECTOR INTERMEDIATE BOND FUND
	  	$	980,298.14	 
	 VIRTUS NEWFLEET MULTI-SECTOR UNCONSTRAINED BOND ETF
	  	$	575,596.79	 
	 VIRTUS NEWFLEET SENIOR FLOATING RATE FUND
	  	$	3,864,251.37	 
	 VIRTUS TOTAL RETURN FUND INC.
	  	$	351,073.23	 
	 VVIT: VIRTUS NEWFLEET MULTI-SECTOR INTERMEDIATE BOND SERIES
	  	$	244,934.81	 
	 Nomura Corporate Funding Americas, LLC
	  	$	16,114,113.27	 

 Schedule 1.01(a) 

 

					
	 Lender
	  	Tranche B Term
Loans as of the
Closing Date	 
	 INDIANA PUBLIC RETIREMENT SYSTEM-1
	  	$	108,221.71	 
	 MISSOURI EDUCATION PENSION TRUST
	  	$	833,205.85	 
	 Oaktree Senior Loan Fund LP
	  	$	3,395,706.35	 
	 OAKTREE CLO 2014-1 LTD
	  	$	2,437,773.54	 
	 OAKTREE CLO 2014-2 LTD.
	  	$	1,928,932.21	 
	 OAKTREE CLO 2015-1 LTD
	  	$	1,086,286.58	 
	 OAKTREE EIF I SERIES A, LTD
	  	$	1,790,134.69	 
	 OAKTREE EIF I SERIES A1, LTD
	  	$	1,672,912.65	 
	 OAKTREE EIF II SERIES A1, LTD
	  	$	2,714,092.95	 
	 OAKTREE ENHANCED INCOME FUNDING SERIES IV LTD
	  	$	2,528,437.10	 
	 Omega Capital Investors, LP
	  	$	3,145,892.60	 
	 Omega Capital Partners, LP
	  	$	12,084,128.18	 
	 Omega Equity Investors LP
	  	$	6,921,315.69	 
	 Omega Overseas Partners Ltd
	  	$	3,767,097.91	 
	 OMEGA CREDIT OPPORTUNITIES MASTER FUND, L.P.
	  	$	29,037,647.28	 
	 OZ SPECIAL MASTER FUND LTD
	  	$	4,702,788.34	 
	 PALMER SQUARE CAPITAL SPECIAL SITUATIONS FUND L.P.
	  	$	32,657.97	 
	 PALMER SQUARE CLO 2013-2 LTD
	  	$	3,523,475.02	 
	 PALMER SQUARE CLO 2015-1, LTD
	  	$	3,332,834.81	 
	 PALMER SQUARE CLO 2015-2 LTD
	  	$	3,563,110.33	 
	 PALMER SQUARE LOAN FUNDING 2016-3, LTD
	  	$	612,337.01	 
	 PALMER SQUARE OPPORTUNISTIC CREDIT FUND, LP
	  	$	547,632.91	 
	 PALMER SQUARE OPPORTUNISTIC INCOME FUND
	  	$	430,404.55	 
	 PALMER SQUARE STRATEGIC CREDIT FUND
	  	$	85,727.17	 
	 BENEFIT STREET PARTNERS CLO II LTD
	  	$	1,403,249.03	 
	 BENEFIT STREET PARTNERS CLO III, LTD
	  	$	1,420,587.02	 
	 BENEFIT STREET PARTNERS CLO IV, LTD.
	  	$	1,419,611.24	 
	 BENEFIT STREET PARTNERS CLO V, LTD
	  	$	1,423,017.28	 
	 BENEFIT STREET PARTNERS CLO VI, LTD
	  	$	1,428,510.54	 
	 BENEFIT STREET PARTNERS CLO XII, LTD.
	  	$	1,211,136.55	 
	 BSP SPECIAL SITUATIONS MASTER A L.P
	  	$	14,102,791.31	 
	 SEI INSTITUTIONAL INVESTMENTS TRUST-HIGH YIELD BOND
FUND-4
	  	$	1,249,284.04	 
	 SEI INSTITUTIONAL MANAGED TRUST - HIGH YIELD BOND FUND
	  	$	780,802.54	 
	 U.S. HIGH YIELD BOND FUND-4
	  	$	312,321.00	 
	 BLUE CROSS OF IDAHO HEALTH SERVICE, INC.
	  	$	306,168.51	 
	 CITY NATIONAL ROCHDALE FIXED INCOME OPPORTUNITIES FUND
	  	$	2,729,468.66	 
	 MERCER QIF FUND PLC - MERCER INVESTMENT FUND 1-6
	  	$	673,105.80	 
	 MOUNTAIN VIEW CLO 2013-1 LTD
	  	$	1,837,011.05	 
	 MOUNTAIN VIEW CLO 2014-1 LTD.
	  	$	2,041,123.39	 

 Schedule 1.01(a) 

 

					
	 Lender
	  	Tranche B Term
Loans as of the
Closing Date	 
	 MOUNTAIN VIEW CLO IX LTD
	  	$	2,041,123.39	 
	 MOUNTAIN VIEW CLO X LTD.
	  	$	1,837,011.05	 
	 VIRTUS SEIX FLOATING RATE HIGH INCOME FUND
	  	$	28,254,846.72	 
	 VIRTUS SEIX HIGH INCOME FUND
	  	$	1,925,261.62	 
	 VIRTUS SEIX HIGH YIELD FUND
	  	$	2,286,058.20	 
	 ADAMS MILL CLO LTD
	  	$	3,059,683.31	 
	 ASSOCIATED ELECTRIC & GAS INSURANCE SERVICES LIMITED
	  	$	348,246.61	 
	 BROOKSIDE MILL CLO LTD
	  	$	2,953,375.78	 
	 Christian Super
	  	$	55,008.27	 
	 Credos Floating Rate Fund, LP
	  	$	154,089.02	 
	 JACKSON MILL CLO LTD.
	  	$	1,986,034.46	 
	 JEFFERSON MILL CLO LTD.
	  	$	1,429,036.24	 
	 KENTUCKY RETIREMENT SYSTEMS (SHENKMAN - PENSION ACCOUNT)
	  	$	130,291.72	 
	 KENTUCKY RETIREMENT SYSTEMS INSURANCE TRUST
FUND-3
	  	$	53,970.70	 
	 PROVIDENCE ST. JOSEPH HEALTH LONG TERM PORTFOLIO
	  	$	166,863.54	 
	 SHENKMAN FLOATING RATE HIGH INCOME FUND
	  	$	481,776.71	 
	 SUDBURY MILL CLO, LTD
	  	$	2,858,482.15	 
	 VIRGINIA COLLEGE SAVINGS PLAN 1
	  	$	397,168.59	 
	 WASHINGTON MILL CLO LTD.
	  	$	2,590,617.27	 
	 SOLUS SENIOR HIGH INCOME FUND LP
	  	$	5,632,871.30	 
	 Commonwealth of Pennsylvania, Treasury Department
	  	$	35,404.10	 
	 COMMONWEALTH OF PENNSYLVANIA, TREASURY DEPARTMENT - TUITION ACCOUNT PROGRAM
	  	$	1,869.32	 
	 NEUBERGER BERMAN ALTERNATIVE FUNDS-NEUBERGER BERMAN ABSOLUTE RETURN MULTI MANAGER FUND-2
	  	$	1,101,240.09	 
	 NEUBERGER BERMAN INVESTMENT FUNDS PLC
	  	$	369,344.34	 
	 PRINCIPAL FUNDS,INC.- GLOBAL MULTI-STRATEGY
FUND-2
	  	$	5,133,056.60	 
	 Sound Point Credit Opportunities Master Fund LP
	  	$	15,009,034.96	 
	 SOUND POINT BEACON MASTER FUND, LP
	  	$	4,913,882.79	 
	 SOUND POINT CLO II LTD
	  	$	1,293,451.18	 
	 SOUND POINT CLO III LTD.
	  	$	1,206,736.46	 
	 SOUND POINT CLO IV, LTD
	  	$	1,765,908.84	 
	 SOUND POINT CLO IX, LTD.
	  	$	1,488,439.13	 
	 SOUND POINT CLO V, LTD
	  	$	1,362,642.83	 
	 SOUND POINT CLO VI, LTD
	  	$	1,499,007.54	 
	 SOUND POINT CLO VII, LTD.
	  	$	616,488.28	 
	 SOUND POINT CLO VIII, LTD.
	  	$	1,782,012.32	 
	 SOUND POINT MONTAUK FUND, L.P.
	  	$	531,513.60	 
	 A/C BAYCITY SENIOR LOAN MASTER FUND LTD
	  	$	2,306,626.54	 
	 BayCity Corporate Arbitrage and Relative Value Fund, L.P.
	  	$	2,401,851.36	 

 Schedule 1.01(a) 

 

					
	 Lender
	  	Tranche B Term
Loans as of the
Closing Date	 
	 BAYCITY ALTERNATIVE INVESTMENT FUNDS SICAV-SIF- BAYCITY US SENIOR LOAN FUND
	  	$	2,977,190.89	 
	 BAYCITY EVENT DRIVEN OPPORTUNITIES MASTER FUND, L.P.
	  	$	446,451.91	 
	 BAYCITY LONG-SHORT CREDIT MASTER FUND, LTD
	  	$	6,684,818.06	 
	 BAYCITY SENIOR LOAN MASTER FUND LTD.
	  	$	6,613,934.23	 
	 CALIFORNIA STREET CLO IX LIMITED PARTNERSHIP
	  	$	1,847,642.99	 
	 CALIFORNIA STREET CLO XII, LTD
	  	$	2,857,572.75	 
	 GOLDMAN SACHS TRUST II GOLDMAN SACHS MULTI-MANAGER
NON-CORE FIXED INCOME FUND
	  	$	709,215.35	 
	 MENARD INC-1
	  	$	3,923,666.12	 
	 MUNICIPAL EMPLOYEES ANNUITY AND BENEFIT FUND OF CHICAGO 1
	  	$	1,512,619.55	 
	 Nuveen Credit Opportunities 2022 Target Term Fund
	  	$	3,251,324.42	 
	 Nuveen Diversified Dividend and Incom Fund
	  	$	690,626.55	 
	 Nuveen Floating Rate Income Fund
	  	$	7,330,000.63	 
	 Nuveen Floating Rate Income Opportunity Fund
	  	$	5,115,391.72	 
	 Nuveen Senior Income Fund
	  	$	3,266,710.91	 
	 NUVEEN CREDIT STRATEGIES INCOME FD
	  	$	16,407,560.57	 
	 NUVEEN SHORT DURATION CREDIT OPPORTUNITIES FUND
	  	$	2,646,990.35	 
	 NUVEEN SYMPHONY FLOATING RATE INCOME FUND
	  	$	14,228,523.45	 
	 PENSIONDANMARK PENSIONSFORSIKRINGSAKTIESELSKAB-1
	  	$	5,966,941.33	 
	 PRINCIPAL DIVERSIFIED REAL ASSET CIT
	  	$	2,121,080.46	 
	 PRINCIPAL FUNDS INC,-DIVERSIFIED REAL ASSET FUND
	  	$	7,295,462.70	 
	 SCOF-2 LTD.
	  	$	2,758,906.85	 
	 SSF TRUST
	  	$	38,705.92	 
	 Symphony CLO VIII Limited Partnership
	  	$	2,140,290.96	 
	 SYMPHONY CLO XIV, LTD
	  	$	1,203,489.20	 
	 SYMPHONY CLO XV, LTD.
	  	$	1,137,708.85	 
	 SYMPHONY CLO XVI, LTD
	  	$	3,265,797.43	 
	 SYMPHONY CLO XVII, LTD
	  	$	1,926,611.71	 
	 SYMPHONY CLO XVIII, LTD
	  	$	2,959,571.24	 
	 SYMPHONY FLOATING RATE SENIOR LOAN FUND
	  	$	1,235,248.71	 
	 TCI-SYMPHONY CLO
2016-1 LTD
	  	$	2,347,291.90	 
	 TAO FUND, LLC
	  	$	65,463,078.68	 
	 CATAMARAN CLO 2012 1 LTD
	  	$	4,262,223.63	 
	 CATAMARAN CLO 2013-1 LTD.
	  	$	1,942,490.06	 
	 CATAMARAN CLO 2014-2, LTD.
	  	$	1,224,674.04	 
	 CATAMARAN CLO 2015-1 LTD.
	  	$	1,224,674.04	 
	 USAA MUTUAL FUNDS TRUST - USAA HIGH INCOME FUND
	  	$	6,557,179.79	 
	 WM POOL HIGH YIELD FIXED INTEREST TRUST
	  	$	464,967.91	 
	 WHITEHORSE VI LTD
	  	$	1,978,869.12	 
	 WHITEHORSE VII LTD.
	  	$	2,795,318.48	 
	 WHITEHORSE VIII, LTD
	  	$	3,514,591.72	 
		  	  
	  
	 
	 Total
	  	$	1,156,500,513.53	 
		  	  
	  
	 

 Schedule 1.01(b) 

Subsidiary Guarantors 
  

	1.	Ditech Financial LLC, a Delaware limited liability company 

  

	2.	DF Insurance Agency LLC, a Delaware limited liability company 

  

	3.	Green Tree Credit LLC, a New York limited liability company 

  

	4.	Green Tree Credit Solutions LLC, a Delaware limited liability company 

  

	5.	Green Tree Insurance Agency of Nevada, Inc., a Nevada corporation 

  

	6.	Green Tree Investment Holdings III LLC, a Delaware limited liability company 

  

	7.	Green Tree Servicing Corp., a Delaware corporation 

  

	8.	Mortgage Asset Systems, LLC, a Delaware limited liability company 

  

	9.	REO Management Solutions, LLC, a Delaware limited liability company 

  

	10.	Reverse Mortgage Solutions, Inc., a Delaware corporation 

  

	11.	Walter Management Holding Company LLC, a Delaware limited liability company 

  

	12.	Walter Reverse Acquisition LLC, a Delaware limited liability company 

 Schedule 1.01(c) 

Unrestricted Subsidiaries 
  

	1.	2013 WCO Holdings Corp., a Maryland corporation 

  

	2.	WIMC Real Estate Investment LLC, a Delaware limited liability company 

 Schedule 3.05 

Financial Statements; Financial Condition; Undisclosed Liabilities 

None. 

 Schedule 3.06 

Litigation 
  

	1.	See the matters scheduled in Schedule 3.09 (Certain Tax Matters). 

 Schedule 3.09 

Certain Tax Matters 
  

	1.	Disputes with the Internal Revenue Service with regard to the U.S. federal income taxes allegedly owed by Walter Energy, Inc. (“Walter Energy”; Vida Walter Industries, Inc.) for the fiscal years ended
August 31, 1983 through May 31, 1994 and the years ended May 31, 2000 through December 31, 2009. Pursuant to a tax separation agreement dated April 17, 2009, Walter Energy is responsible for the payment of all federal
incomes taxes (including any interest or penalties applicable thereto) owed by the Borrower and its consolidated subsidiaries during such time periods, but in the event that Walter Energy is unable to pay any unpaid taxes, interest or penalties
assessed as a result of the foregoing disputes, the Borrower and certain of its consolidated subsidiaries would be liable. 

  

	2.	Dispute with the Alabama Department of Revenue for the years 2004 through 2008 — the State of Alabama is claiming approximately $4.2 million in allegedly unpaid taxes (including interest and penalties).

  

	3.	Tax exposure on uncertain tax positions that results in a potential liability estimated at $5.6 million as of December 31, 2017. 

 

	4.	The Company and its subsidiaries have the following open audits as of 12/31/17: 

  

	 	a.	Federal IRS: Corporate Income Tax. The Internal Revenue Service is auditing WIMC for the tax periods 12/31/2013-12/31/2016. 

 Schedule 3.11(c) 

Mortgage Filing Offices 
 None. 

 Schedule 3.12 

Real Property 
 None. 

 Schedule 3.14 

Subsidiaries 
  

							
	 Subsidiary
	  	 Direct Owner
	  	Ownership
Percentage	 
	2013 WCO Holdings Corp.	  	Ditech Holding Corporation	  	 	100	% 
	Ditech Agency Advance Depositor LLC	  	Ditech Financial LLC	  	 	100	% 
	Ditech PLS Advance Depositor LLC	  	Ditech Financial LLC	  	 	100	% 
	Ditech Financial LLC	  	Walter Management Holding Company LLC	  	 	100	% 
	DF Insurance Agency LLC	  	Green Tree Credit Solutions LLC	  	 	100	% 
	Green Tree Advance Receivables II LLC	  	Ditech Financial LLC	  	 	100	% 
	Green Tree Advance Receivables III LLC	  	Ditech Financial LLC	  	 	100	% 
	Green Tree Credit LLC	  	Walter Management Holding Company LLC	  	 	100	% 
	Green Tree Credit Solutions LLC	  	Ditech Holding Corporation	  	 	100	% 
	Green Tree Insurance Agency of Nevada, Inc.	  	Green Tree Credit Solutions LLC	  	 	100	% 
	Green Tree Investment Holdings III LLC	  	Green Tree Credit Solutions LLC	  	 	100	% 
	Green Tree Servicing Corp.	  	Walter Management Holding Company LLC	  	 	100	% 
	Hanover SPC-A, Inc.	  	Ditech Holding Corporation	  	 	100	% 
	Mid-State Capital, LLC	  	Ditech Holding Corporation	  	 	100	% 
	Mortgage Asset Systems, LLC	  	Reverse Mortgage Solutions, Inc.	  	 	100	% 
	REO Management Solutions, LLC	  	Reverse Mortgage Solutions, Inc.	  	 	100	% 
	Reverse Mortgage Solutions, Inc.	  	Walter Reverse Acquisition LLC	  	 	100	% 

							
	 Subsidiary
	  	 Direct Owner
	  	Ownership
Percentage	 
	RMS REO BRC, LLC	  	Reverse Mortgage Solutions, Inc.1	  	 	100	% 
	RMS REO CS, LLC	  	Reverse Mortgage Solutions, Inc.2	  	 	100	% 
	Walter Management Holding Company LLC	  	Green Tree Credit Solutions LLC	  	 	100	% 
	Walter Reverse Acquisition LLC	  	Ditech Holding Corporation	  	 	100	% 
	WIMC Real Estate Investment LLC	  	Ditech Holding Corporation	  	 	100	% 

 Options, Warrants, Stock Appreciation, or similar rights: 

None. 
  

	1 	Membership Interest held by Credit Suisse First Boston Mortgage Capital LLC 

	2 	Membership Interest held by Credit Suisse First Boston Mortgage Capital LLC 

 Schedule 3.17 

Insurance 
  

					
	 Line of Coverage
	  	 Carrier

Policy #
 Policy
Period
	  	 Limit

Deductible

			
	Property	  	 CNA

05/15/17-05/15/18
	  	 Per Schedule
 Wind/Hail/Flood EQ
Limit & Deductible varies by location
 Personal prop Blanket Limit

$140,070/726

			
	General Liability	  	 CNA

05/15/17-05/15/18
	  	 $1,000,000/2,000,000
 No
Deductible

			
	Auto Liability (Hired/Non-Owned & Repossessed Autos Only)	  	 CNA

05/15/17-05/15/18
	  	 $1,000,000 Auto Liability & Repossessed Auto Liability

Hired Autos Only:
 Physical Damage Limit: ACV

Deductibles:
 $100 Comp/$1,000 Collision

			
	Workers Comp	  	 Federal Insurance Co (Chubb)
 05/15/17-05/15/18
	  	 $1,000,000/$1,000,000/ $1,000,000
 Workers’
Comp Statutory
 Employers Liability

			
	Umbrella Liability	  	 CNA

05/15/17-05/15/18
	  	25,000,000 Primary
			
	Excess Umbrella Liability	  	 Liberty Mutual Group
 05/15/17-05/15/18
	  	 $25,000,000
 $25M x Primary

			
	 Mortgage Impairment and Errors & Omissions

(Mortgage Protection)
	  	 Lloyd’s

9/01/17-9/01/18
	  	 $25,000,000 Limit
 $50,000
Deductible

			
	 Directors & Officers3
 Primary $10M
	  	XL Specialty	  	$10,000,000 Limit
			
	 Directors & Officers
 1st Excess
	  	Berkshire Hathaway Specialty	  	$10M x $10M Limit
			
	 Directors & Officers
 2nd Excess
	  	National Union (AIG)	  	$10M x $20M Limit

  

	3 	Directors & Officers Insurance Term will begin on date when the Company emerges from the Ch 11 case and continue for 12 months thereafter. Policy numbers will be available approximately 30-45 days following the
effective date. 

					
	 Directors & Officers
 3rd Excess
	  	Argonaut	  	$10M x $30M Limit
			
	 Directors & Officers
 4th Excess
	  	Allied World National Assurance Co (AWAC)	  	$10M x $40M Limit
			
	 Directors & Officers
 5th Excess
	  	Continental Casualty Co (C.N.A.)	  	$10 x $50M Limit
			
	 Directors & Officers
 6th Excess
	  	Berkley Ins Co.	  	$5M x $60M Limit
			
	 Directors & Officers
 7th Excess
	  	Endurance Assurance Corp (Sompo)	  	$10M x $65M Limit
			
	 Directors & Officers
 8th Excess
	  	 US Specialty Ins (HCC)
 Lead Side A
	  	$10M x 75M Limit
			
	 Directors & Officers
 9th Excess
	  	 Berkshire Hathaway Specialty
 Excess Side
A
	  	$10M x $85M Limit
			
	 Directors & Officers
 10th Excess
	  	 Markel American Ins Co
 Excess Side A
	  	$10M xs $95M Limit
			
	 Directors & Officers
 11th Excess
	  	 Starr
 Excess Side A
	  	$10M xs $105M Limit
			
	 Directors & Officers
 12th Excess
	  	 Axis Ins Co
 Excess Side A
	  	$5M xs $115M Limit
			
	 Directors & Officers
 13th Excess
	  	 XL Specialty
 Excess Side A
	  	$10M xs $120M Limit
			
	Employment Practices Liability	  	 Illinois National Insurance Company (AIG)
 09/01/17-09/01/18
	  	 $5,000,000
 $250,000 Retention All Other

$500,000 Retention Class Action

			
	Fiduciary	  	 Illinois National Insurance Company (AIG)
 09/01/17-09/01/18
	  	 $5,000,000 Limit
 $100,000
Retention

			
	 Bankers Professional
 FIRP

BPL
	  	 Houston Casualty

09/01/17-09/01/18
	  	 $5,000,000 Limit
 $500,000 Retention All
Other
 $2,000,000 Retention Class Action

			
	 Bankers Professional
 FIRP
	  	 CV Starr Indemnity
 9/1/17-9/1/18
	  	$2.5M xs $5M

					
	 Bankers Professional
 FIRP
	  	 XL Specialty

9/1/17-9/1/18
	  	$2.5M xs $7.5M
			
	Fidelity Primary (Crime)	  	 AIG-National Union

9/1/17-9/1/18
	  	 $10,000,000 Limit
 $250,000
Deductible

			
	Fidelity Layer 1	  	 XL Specialty

9/1/17-9/1/18
	  	$10M x $10M
			
	Fidelity Layer 2	  	 Starr Indemnity

9/1/17-9/1/18
	  	$15M x $20M
			
	Fidelity Layer 3	  	 Great American

9/1/17-9/1/18
	  	$25M x $35M
			
	Fidelity Layer 4	  	 RLI

09/01/17-09/01/18
	  	$25M x $60M
			
	Fidelity Layer 5	  	 Lloyd’s

09/01/17-09/01/18
	  	$25M x $85M
			
	Fidelity Layer 6	  	 Berkley/Carolina Casualty
 9/01/17-9/01/18
	  	$20M p/o $40M x $110M
			
	Fidelity Layer 6	  	 National Union

09/01/17-09/01/18
	  	$10M p/o $40M x $110M
			
	Fidelity Layer 6	  	 C N A

09/01/17-09/01/18
	  	$10M p/o $40M x $110M
			
	Fidelity Layer 7	  	 Crum & Forster
 9/01/2017-9/01/2018
	  	$10M p/o $25M x $150M
			
	Fidelity Layer 7	  	 Nationwide/Freedom Specialty
 09/01/17-09/01/18
	  	$15M p/o 25M x $150M
			
	Fidelity Layer 8	  	 Beazley

09/01/17-09/01/18
	  	$25M x $175M
			
	Fidelity Layer 9	  	 Lloyds

09/01/17-09/01/18
	  	$40M x $200M
			
	Cyber Liability/Privacy Breach Response	  	 Beazley Insurance Co.
 Lloyds Syndicate 2623-623
 09/01/17-09/01/18
	  	 $10,000,000 Liability Limit
 $250,000
Retention
 2,000,000 individuals/no dollar limit for breach notification/$10,000 retention.

$2,500,000 legal/public relations expense

			
	Ex. Cyber Liability	  	 Greenwich Insurance Co.
 9/1/17-9/1/18
	  	$10M xs $10M

 Schedule 3.21 

Indebtedness 
 None. 

 Schedule 4.02(a) 

List of Counsel 
 Venable LLP, as Maryland
counsel 
 Sidley Austin LLP, as special Investment Company Act counsel 

 Schedule 5.01 

Reporting 
  

	1.	Loan Servicing 

  

	 	(a)	Ending UPB by 

  

	 	(i)	Asset class (Manufactured Housing, Residential Mortgages and Other) 

  

	 	(ii)	Contract type (sub-servicing vs. MSR purchased) 

  

	 	(b)	New servicing portfolio UPB added by 

  

	 	(i)	Asset class (including Average loan size and contractual fee) 

  

	 	(ii)	Contract type (sub-servicing vs. MSR purchased) 

  

	 	(c)	Consolidated disappearance rate on portfolio by Asset class (broken out by Default rate and Voluntary prepayment rate) 

  

	 	(d)	Ending number of accounts by Asset class 

  

	 	(e)	Servicing Fees by Asset class (contractual) 

  

	2.	Deficiency Collections 

  

	 	(a)	Notional balance added for the period 

  

	 	(b)	Gross collections 

  

	 	(c)	Percentage of Gross collections payable to 3rd parties for the period 

  

	3.	Originations of Forward Mortgages 

  

	 	(a)	Number of loan originations 

  

	 	(b)	Average loan size 

  

	 	(c)	Fees earned (% of originations) 

  

	4.	Reverse Mortgages 

  

	 	(a)	Ending UPB serviced 

 Schedule 5.22 

Post-Closing Obligations 

1.     Within thirty (30) days of the Closing Date, the Borrower shall (i) make all necessary filings with the
United States Patent and Trademark Office to accurately reflect the Borrower’s legal name and (ii) provide the Administrative Agent with evidence of such filings. 

2.    Within thirty (30) days of the Closing Date, the Loan Parties shall have delivered to the Administrative Agent
insurance endorsements satisfying the requirements of Section 5.03 of the Credit Agreement, in form and substance reasonably satisfactory to the Administrative Agent. 

 Schedule 6.01 

Existing Liens 
  

									
	 Jurisdiction
	  	 Debtor
	  	 Secured Party
	 	Filing Info	 	 Collateral

					
	Maryland SOS	  	Ditech Holding Corporation	  	The Bank of New York Mellon	 	181409674
12/09/2010	 	Accounts, general intangibles, chattel paper and instruments related to mortgages
					
	Maryland SOS	  	Ditech Holding Corporation	  	The Bank of New York Mellon	 	181550740
02/05/2016	 	Accounts, general intangibles, chattel paper and instruments related to mortgages
					
	Delaware SOS	  	Ditech Financial LLC	  	Credit Suisse First Boston Mortgage Capital LLC	 	20130972019
03/13/2013	 	Purchased mortgage loans and other repurchase assets
					
	Delaware SOS	  	Ditech Financial LLC	  	Credit Suisse First Boston Mortgage Capital LLC	 	20130972225
03/13/2013	 	Purchased mortgage loans and other repurchase assets
					
	Delaware SOS	  	Ditech Financial LLC	  	Credit Suisse First Boston Mortgage Capital LLC	 	20130972282
03/13/2013	 	Purchased mortgage loans and other repurchase assets
					
	Delaware SOS	  	Ditech Financial LLC	  	Credit Suisse First Boston Mortgage Capital LLC	 	20131179192
03/27/2013	 	Purchased mortgage loans and other repurchase assets
					
	Delaware SOS	  	Ditech Financial LLC	  	Wells Fargo Bank, N.A.	 	20140252304
01/21/2014	 	Receivables from designated servicing agreements
					
	Delaware SOS	  	Ditech Financial LLC	  	Jefferies Funding LLC	 	20151607141
04/15/2015	 	Purchased mortgage loans and other repurchase assets
					
	Delaware SOS	  	Ditech Financial LLC	  	EverBank	 	20152422755
06/05/2015	 	Servicing rights, receivables, deposit accounts related to the EverBank Servicing Agreement
					
	Delaware SOS	  	Ditech Financial LLC	  	Bank of America, N.A.	 	20153823134
08/31/2015	 	Purchased mortgage loans and other purchased items

									
	 Jurisdiction
	  	 Debtor
	  	 Secured Party
	 	Filing Info	 	 Collateral

					
	Delaware SOS	  	Ditech Financial LLC	  	Credit Suisse First Boston Mortgage Capital LLC	 	20153823233
08/31/2015	 	Purchased mortgage loans and other repurchase assets
					
	Delaware SOS	  	Ditech Financial LLC	  	Jefferies Funding LLC	 	20153823258
08/31/2015	 	Purchased loans, participation certificates and securities; servicing records; collection accounts; mortgage guarantees and insurance; other assets related to purchased assets
					
	Delaware SOS	  	Ditech Financial LLC	  	Fannie Mae	 	20154428172
10/01/2015	 	Excess yield for mortgage loans
					
	Delaware SOS	  	Ditech Financial LLC	  	WCO Excess Spread Acquisitions LLC	 	20155177745
11/05/2015	 	Rights under the Excess Servicing Spread
					
	Delaware SOS	  	Ditech Financial LLC	  	WCO Excess Spread Acquisitions LLC	 	20155178461
11/05/2015	 	Rights under the Excess Servicing Spread
					
	Delaware SOS	  	Ditech Financial LLC	  	New Residential Mortgage LLC	 	20166146144
10/06/2016	 	Rights under the Flow and Bulk Agreement for the Purchase and Sale of Mortgage Servicing Rights
					
	Delaware SOS	  	Ditech Financial LLC	  	Credit Suisse First Boston Mortgage Capital LLC	 	20167289661
11/23/2016	 	Purchased mortgage loans and other repurchase assets
					
	Delaware SOS	  	Ditech Financial LLC	  	Credit Suisse First Boston Mortgage Capital LLC	 	20178044093
12/05/2017	 	Purchased mortgage loans and other repurchase assets
					
	Delaware SOS	  	Ditech Financial LLC	  	Credit Suisse First Boston Mortgage Capital LLC	 	20178044333
12/05/2017	 	Rights under the Margin, Setoff and Netting Agreement
					
	Delaware SOS	  	Ditech Financial LLC	  	Wells Fargo Bank, N.A.	 	20178051155
12/05/2017	 	Rights and receivables under the Receivables Sale Agreement
					
	Delaware SOS	  	Ditech Financial LLC	  	Wells Fargo Bank, N.A.	 	20178051221
12/05/2017	 	Rights and receivables under the Receivables Sale Agreement
					
	Delaware SOS	  	Reverse Mortgage Solutions, Inc.	  	De Lage Landen Financial Services, Inc.	 	20133784221
09/27/2013	 	Equipment

									
	 Jurisdiction
	  	 Debtor
	  	 Secured Party
	 	Filing Info	 	 Collateral

					
	Delaware SOS	  	Reverse Mortgage Solutions, Inc.	  	People’s United Bank	 	20133946283
10/08/2013	 	Computer equipment
					
	Delaware SOS	  	Reverse Mortgage Solutions, Inc.	  	Credit Suisse First Boston Mortgage Capital LLC	 	20154775218
10/19/2015	 	Purchased mortgage loans and other repurchase assets
					
	Delaware SOS	  	Reverse Mortgage Solutions, Inc.	  	Credit Suisse First Boston Mortgage Capital LLC	 	20161104304
02/24/2016	 	Interest in transaction mortgage loans and contributed REO property
					
	Delaware SOS	  	Reverse Mortgage Solutions, Inc.	  	Credit Suisse First Boston Mortgage Capital LLC	 	20171200556
02/22/2017	 	Interest in transaction mortgage loans and contributed REO property
					
	Delaware SOS	  	Reverse Mortgage Solutions, Inc.	  	Credit Suisse First Boston Mortgage Capital LLC	 	20178042311
12/05/2017	 	Interest in transaction mortgage loans and contributed REO property
					
	Delaware SOS	  	Reverse Mortgage Solutions, Inc.	  	Credit Suisse First Boston Mortgage Capital LLC	 	20178044333
12/05/2017	 	Certain accounts and rights to assets related to the Margin, Setoff and Netting Agreement
					
	Delaware SOS	  	Reverse Mortgage Solutions, Inc.	  	Texas Capital Bank, National Association	 	20140923060
03/10/2014	 	Instruments related to HECM loans
					
	Texas SOS	  	Reverse Mortgage Solutions, Inc.	  	Community Trust Bank	 	14-0015961764 
05/20/2014	 	All mortgage loans, mortgage loan documents and all insurance policies and servicing rights related thereto
					
	Texas SOS	  	Reverse Mortgage Solutions, Inc.	  	Community Trust Bank	 	14-0028726424 
09/09/2014	 	All mortgage loans, mortgage loan documents and all insurance policies and servicing rights related thereto
					
	Delaware SOS	  	Reverse Mortgage Solutions, Inc.	  	Community Trust Bank	 	20143592995
09/09/2014	 	All mortgage loans, mortgage loan documents and all insurance policies and servicing rights related thereto
					
	Delaware SOS	  	Reverse Mortgage Solutions, Inc.	  	Konica Minolta Premier Finance	 	20152022001
05/12/2015	 	Equipment
					
	Delaware SOS	  	Green Tree Servicing Corp.	  	Wells Fargo Foothill, LLC	 	20092464136
07/31/09	 	Rights to receivables under the Purchase and Sale Agreement

									
	 Jurisdiction
	  	 Debtor
	  	 Secured Party
	 	Filing Info	 	 Collateral

					
	Delaware SOS	  	Green Tree Servicing Corp.	  	Cisco Systems Capital Corporation	 	20111078891
03/23/2011	 	Equipment
					
	Delaware SOS	  	Green Tree Servicing Corp.	  	Bank of America, N.A.	 	20112551680
07/01/2011	 	Certain deposit accounts
					
	Delaware SOS	  	Green Tree Servicing Corp.	  	Credit Suisse First Boston Mortgage Capital LLC	 	20130972019
03/13/2013	 	Purchased mortgage loans and other repurchase assets
					
	Delaware SOS	  	Green Tree Servicing Corp.	  	Credit Suisse First Boston Mortgage Capital LLC	 	20130972225
03/13/2013	 	Purchased mortgage loans and other repurchase assets
					
	Delaware SOS	  	Green Tree Servicing Corp.	  	Credit Suisse First Boston Mortgage Capital LLC	 	20130972282
03/13/2013	 	Purchased mortgage loans and other repurchase assets
					
	Delaware SOS	  	Green Tree Servicing Corp.	  	Credit Suisse First Boston Mortgage Capital LLC	 	20131179192
03/27/2013	 	Right, title and interest in purchased mortgage loans and other repurchase assets
					
	Delaware SOS	  	Green Tree Servicing Corp.	  	Wells Fargo Bank, N.A.	 	20140252304
01/21/2014	 	Receivables from designated servicing agreements
					
	Delaware SOS	  	Green Tree Servicing Corp.	  	CIT Finance LLC	 	20142121622
05/30/2014	 	Equipment
					
	Delaware SOS	  	Green Tree Servicing Corp.	  	Walter Capital Opportunity GP, LLC	 	20142604379
07/01/2014	 	Right, title and interest under the Current Excess Servicing Spread
					
	Delaware SOS	  	Green Tree Servicing Corp.	  	Toshiba Financial Services	 	20143725298
09/17/2014	 	Equipment
					
	Delaware SOS	  	Green Tree Servicing Corp.	  	Jefferies Funding LLC	 	20151607141
04/15/2015	 	Purchased loans and other purchased assets
					
	Delaware SOS	  	Green Tree Servicing Corp.	  	EverBank	 	20152422755
06/05/2015	 	Pledged servicing rights and pledged servicing receivables
					
	Delaware SOS	  	Green Tree Servicing Corp.	  	EverBank	 	20153793287
08/28/2015	 	Purchased mortgage loans related to the Master Repurchase Agreement

									
	 Jurisdiction
	  	 Debtor
	  	 Secured Party
	 	Filing Info	 	 Collateral

					
	Minnesota SOS	  	Green Tree Servicing, LLC	  	Federal National Mortgage Association (AKA Fannie Mae)	 	200916681448
 07/09/2009
	 	Rights to transferred loans
					
	Minnesota SOS	  	Green Tree Servicing, LLC
Green Tree Loan Company
Victory Home Sales	  	Isanti Estates LLC	 	201226938919
 1/20/2012
	 	Manufactured home
					
	Pennsylvania - Department of State Uniform Commercial Code Section	  	Green Tree Servicing, LLC	  	Therese Anne Steuber	 	2015010505295
 12/29/2014
	 	Agricultural lien

 Schedule 6.04 

Existing Indebtedness 
 None. 

 Schedule 6.05 

Existing Investments 
  

	1.	Ditech Holding Corporation owns a 100% undivided beneficial ownership interest in Mid-State Trust X pursuant to a trust agreement dated as of October 31, 2001 as further
amended and restated from time to time, between Mid-State Homes, Inc. and Wilmington Trust Company 

  

	2.	Ditech Holding Corporation owns a 100% undivided beneficial ownership interest in Mid-State Capital Corporation 2006-1 Trust pursuant to a
trust agreement dated as of July 14, 2004 as further amended and restated from time to time, between Mid-State Homes, Inc. and Wilmington Trust Company 

 

	3.	Ditech Holding Corporation owns a 100% undivided beneficial ownership interest in Mid-State Trust XI pursuant to a trust agreement dated as of July 24, 2003 as further
amended and restated from time to time, between Mid-State Homes, Inc. and Wilmington Trust Company 

  

	4.	Ditech Holding Corporation owns a 100% undivided beneficial ownership interest in Mid-State Capital Corporation 2005-1 Trust pursuant to a
trust agreement dated as of November 22, 2005 as further amended and restated from time to time, between Mid-State Homes, Inc. and Wilmington Trust Company 

 

	5.	Ditech Holding Corporation holds a Class R Asset-Backed Note issued by WIMC Capital Trust 2011-1, governed by a trust agreement dated as of June 8, 2011

  

	6.	Investment by Ditech Holding Corporation in single, fixed-rate security with an 8.0% coupon and a contractual maturity of 2038 

  

	7.	Investment by Green Tree Credit Solutions LLC in beneficial interests of Hanover Capital Trust 2001-A 

 

	8.	Ditech Holding Corporation owns approximately 10% interest in Walter Capital Opportunity Corp. 

 Schedule 6.11 

Certain Restrictive Agreements 
 None.

 EXHIBIT A 

FORM OF SECURITY AGREEMENT 

  
 A-1 

 EXECUTION VERSION 
  

 
  

AMENDED AND RESTATED FIRST LIEN SECURITY AGREEMENT 

among 
 DITECH HOLDING
CORPORATION, 
 CERTAIN OTHER SUBSIDIARIES OF DITECH HOLDING CORPORATION 

FROM TIME TO TIME PARTY HERETO, 

and 
 CREDIT SUISSE AG, CAYMAN
ISLANDS BRANCH, 
 as COLLATERAL AGENT 

Dated as of February 9, 2018 
  

 
  

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	ARTICLE 1 SECURITY INTERESTS	  	 	2	 
			
	 Section 1.01
	 	 Grant of Security Interests
	  	 	2	 
		
	ARTICLE 2 GENERAL REPRESENTATIONS, WARRANTIES AND COVENANTS	  	 	5	 
	 Section 2.01
	 	 Necessary Filings
	  	 	5	 
	 Section 2.02
	 	 No Liens
	  	 	5	 
	 Section 2.03
	 	 Other Financing Statements
	  	 	5	 
	 Section 2.04
	 	 Chief Executive Office, Record Locations
	  	 	5	 
	 Section 2.05
	 	 [Intentionally Omitted]
	  	 	5	 
	 Section 2.06
	 	 Legal Names; Type of Organization (and Whether a Registered Organization and/or a Transmitting
Utility); Jurisdiction of Organization; Location; Organizational Identification Numbers; Federal Employer Identification Number; Changes Thereto; Etc
	  	 	6	 
	 Section 2.07
	 	 Certain Significant Transactions
	  	 	6	 
	 Section 2.08
	 	 [Intentionally Omitted]
	  	 	6	 
	 Section 2.09
	 	 [Intentionally Omitted]
	  	 	6	 
	 Section 2.10
	 	 Deposit Accounts
	  	 	6	 
	 Section 2.11
	 	 Recourse
	  	 	7	 
		
	 ARTICLE 3 SPECIAL PROVISIONS CONCERNING ACCOUNTS; CONTRACT RIGHTS; INSTRUMENTS;
CHATTEL PAPER AND CERTAIN OTHER COLLATERAL
	  	 	7	 
			
	 Section 3.01
	 	 [Intentionally Omitted]
	  	 	7	 
	 Section 3.02
	 	 Maintenance of Records
	  	 	7	 
	 Section 3.03
	 	 Direction to Account Debtors; Contracting Parties; etc
	  	 	7	 
	 Section 3.04
	 	 [Intentionally Omitted]
	  	 	7	 
	 Section 3.05
	 	 Collection
	  	 	7	 
	 Section 3.06
	 	 Instruments
	  	 	8	 
	 Section 3.07
	 	 Assignors Remain Liable Under Accounts
	  	 	8	 
	 Section 3.08
	 	 Assignors Remain Liable Under Contracts
	  	 	8	 
	 Section 3.09
	 	 Deposit Accounts
	  	 	9	 
	 Section 3.10
	 	 Letter-of-Credit
Rights
	  	 	9	 
	 Section 3.11
	 	 Commercial Tort Claims
	  	 	9	 
	 Section 3.12
	 	 Chattel Paper
	  	 	10	 
	 Section 3.13
	 	 Further Actions
	  	 	10	 
		
	ARTICLE 4 SPECIAL PROVISIONS CONCERNING TRADEMARKS AND DOMAIN NAMES	  	 	10	 
			
	 Section 4.01
	 	 Additional Representations and Warranties and Covenants
	  	 	10	 
	 Section 4.02
	 	 Licenses and Assignments
	  	 	11	 
	 Section 4.03
	 	 Infringements
	  	 	11	 
	 Section 4.04
	 	 [Intentionally Omitted]
	  	 	11	 

  
 i 

 TABLE OF CONTENTS 

(continued) 
  

							
	 	 	 	  	Page	 
	 Section 4.05
	 	 [Intentionally Omitted]
	  	 	11	 
	 Section 4.06
	 	 Future Registered Marks
	  	 	11	 
	 Section 4.07
	 	 Remedies
	  	 	11	 
		
	ARTICLE 5 SPECIAL PROVISIONS CONCERNING PATENTS, COPYRIGHTS AND TRADE SECRETS	  	 	11	 
			
	 Section 5.01
	 	 Additional Representations and Warranties and Covenants
	  	 	11	 
	 Section 5.02
	 	 Licenses and Assignments
	  	 	12	 
	 Section 5.03
	 	 Infringements
	  	 	12	 
	 Section 5.04
	 	 [Intentionally Omitted]
	  	 	12	 
	 Section 5.05
	 	 Maintenance of Patents or Copyrights
	  	 	12	 
	 Section 5.06
	 	 Prosecution of Patent or Copyright Applications
	  	 	12	 
	 Section 5.07
	 	 Other Patents and Copyrights
	  	 	12	 
	 Section 5.08
	 	 Remedies
	  	 	13	 
		
	ARTICLE 6 PROVISIONS CONCERNING ALL COLLATERAL	  	 	13	 
			
	 Section 6.01
	 	 Protection of Collateral Agent’s Security
	  	 	13	 
	 Section 6.02
	 	 Warehouse Receipts Non-Negotiable
	  	 	13	 
	 Section 6.03
	 	 Additional Information
	  	 	13	 
	 Section 6.04
	 	 Further Actions
	  	 	13	 
	 Section 6.05
	 	 Financing Statements
	  	 	14	 
		
	ARTICLE 7 REMEDIES UPON OCCURRENCE OF AN EVENT OF DEFAULT	  	 	14	 
			
	 Section 7.01
	 	 Remedies; Obtaining the Collateral Upon Default
	  	 	14	 
	 Section 7.02
	 	 Remedies; Disposition of the Collateral
	  	 	16	 
	 Section 7.03
	 	 Waiver of Claims
	  	 	17	 
	 Section 7.04
	 	 Application of Proceeds
	  	 	17	 
	 Section 7.05
	 	 Remedies Cumulative
	  	 	20	 
	 Section 7.06
	 	 Discontinuance of Proceedings
	  	 	20	 
		
	ARTICLE 8 INDEMNITY	  	 	21	 
			
	 Section 8.01
	 	 Indemnity
	  	 	21	 
	 Section 8.02
	 	 Indemnity Obligations Secured by Collateral; Survival
	  	 	21	 
		
	ARTICLE 9 DEFINITIONS	  	 	22	 
		
	ARTICLE 10 CONCERNING THE COLLATERAL AGENT	  	 	32	 
			
	 Section 10.01
	 	 Power of Attorney
	  	 	32	 
	 Section 10.02
	 	 General Provisions
	  	 	32	 
		
	ARTICLE 11 MISCELLANEOUS	  	 	33	 
			
	 Section 11.01
	 	 Notices
	  	 	33	 
	 Section 11.02
	 	 Waiver; Amendment
	  	 	33	 
	 Section 11.03
	 	 Obligations Absolute
	  	 	33	 
	 Section 11.04
	 	 Successors and Assigns
	  	 	34	 

  
 ii 

 TABLE OF CONTENTS 

(continued) 
  

							
	 	 	 	  	Page	 
	 Section 11.05
	 	 Headings Descriptive
	  	 	34	 
	 Section 11.06
	 	 GOVERNING LAW; SUBMISSION TO JURISDICTION; VENUE; WAIVER OF JURY TRIAL
	  	 	34	 
	 Section 11.07
	 	 Assignor’s Duties
	  	 	35	 
	 Section 11.08
	 	 Termination; Release
	  	 	35	 
	 Section 11.09
	 	 Counterparts
	  	 	36	 
	 Section 11.10
	 	 Severability
	  	 	36	 
	 Section 11.11
	 	 The Collateral Agent and the Other Secured Creditors
	  	 	36	 
	 Section 11.12
	 	 Additional Assignors
	  	 	37	 
	 Section 11.13
	 	 No Conflicts with Servicing Rights Acknowledgement Agreements
	  	 	37	 
	 Section 11.14
	 	 Intercreditor Agreements Govern
	  	 	37	 
	 Section 11.15
	 	 Amendment and Restatement; No Novation
	  	 	38	 

  

			
	Schedule 1	 	Chief Executive Office; Record Locations
	Schedule 2	 	Legal Names; Type of Organization; Jurisdiction; Location; Organizational Identification Numbers; Federal Employer Identification Number;
	Schedule 3	 	Significant Transactions
	Schedule 4	 	Letter-of-Credit Rights
	Schedule 5	 	Commercial Tort Claims
	Schedule 6	 	Trademarks
	Schedule 7	 	Patents
	Schedule 8	 	Copyrights
	Schedule 9	 	Deposit Accounts
		
	Exhibit A	 	Form of Trademark Security Agreement
	Exhibit B	 	Form of Patent Security Agreement
	Exhibit C	 	Form of Copyright Security Agreement
	Exhibit D	 	Form of Security Agreement Supplement
	Exhibit E	 	Form of Perfection Certificate

  
 iii 

 AMENDED AND RESTATED FIRST LIEN SECURITY AGREEMENT 

AMENDED AND RESTATED FIRST LIEN SECURITY AGREEMENT (as amended, restated, amended and restated, supplemented and/or otherwise modified from
time to time, this “Agreement”), dated as of February 9, 2018, made by each of the undersigned assignors (each, an “Assignor”, and together with any other entity that becomes an assignor hereunder pursuant to
Section 11.12 hereof, the “Assignors”) in favor of CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, as collateral agent (together with any successor collateral agent, the “Collateral Agent”), for the benefit of the
Secured Creditors (as defined below). Certain capitalized terms as used herein are defined in Article 9 hereof. Except as otherwise defined herein, all capitalized terms used herein and defined in the Credit Agreement (as defined below) shall be
used herein as therein defined. 
 WITNESSETH: 

WHEREAS, Ditech Holding Corporation (formerly known as Walter Investment Management Corp.), a Maryland corporation (the
“Borrower”), the lenders from time to time party thereto (the “Lenders”) and Credit Suisse AG, Cayman Islands Branch as administrative agent (together with any successor administrative agent, the
“Administrative Agent”) and Collateral Agent, have entered into that certain Second Amended and Restated Credit Agreement, dated as of February 9, 2018 (as amended, restated, amended and restated, supplemented and/or otherwise
modified from time to time, the “Credit Agreement”), which amends and restates that certain Amended and Restated Credit Agreement, dated as of December 19, 2013, by and among the Borrower, the Lenders, the Administrative Agent
and the Collateral Agent, providing for the making of Loans to the Borrower, all as contemplated therein (the Lenders, each Issuing Bank, the Administrative Agent and the Collateral Agent are herein called the “Lender Creditors”);

 WHEREAS, the Borrower and/or one or more of its Subsidiaries that is a Credit Party may at any time and from time to time enter into one
or more Interest Rate Protection Agreements and/or Other Hedging Agreements with one or more Lenders or any affiliate thereof (each such Lender or affiliate, even if the respective Lender subsequently ceases to be a Lender under the Credit Agreement
for any reason, together with such Lender’s or affiliate’s successors and assigns, if any, collectively, the “Other Creditors” and, together with the Lender Creditors, the “Secured Creditors”; and with
each such Interest Rate Protection Agreement and/or Other Hedging Agreement with an Other Creditor being herein called a “Secured Hedging Agreement”); 

WHEREAS, pursuant to the Subsidiaries Guaranty, each Subsidiary Guarantor has jointly and severally guaranteed to the Secured Creditors the
payment when due of all Guaranteed Obligations as described (and defined) therein; 
 WHEREAS, the Borrower, the other Assignors and the
Collateral Agent are party to that certain Security Agreement, dated as of November 28, 2012 (as amended, restated, amended and restated, supplemented and/or otherwise modified from time to time prior to the date hereof, the “Existing
Security Agreement”); and 
 WHEREAS, pursuant to the Credit Agreement, the Assignors and the Collateral Agent (at the direction of
the Lenders) have agreed to amend and restate the Existing Security Agreement on the terms and conditions specified herein; 
 NOW,
THEREFORE, in consideration of the benefits accruing to each Assignor, the receipt and sufficiency of which are hereby acknowledged, the Existing Security Agreement is amended and restated as specified herein and each Assignor hereby makes the
following representations and warranties to the Collateral Agent for the benefit of the Secured Creditors and hereby covenants and agrees with the Collateral Agent for the benefit of the Secured Creditors as follows: 

 ARTICLE 1 

SECURITY INTERESTS 

Section 1.01 Grant of Security Interests. (a) As security for the prompt and complete payment and performance when due of all
of its Secured Obligations, each Assignor does hereby pledge and grant to the Collateral Agent, for the benefit of the Secured Creditors, a continuing security interest in all of the right, title, interest, powers, remedies, privileges and other
benefits of such Assignor in, to and under all of the following personal property and fixtures (and all rights therein) of such Assignor, or in which or to which such Assignor has any rights, in each case whether now existing or hereafter from time
to time acquired and wherever located: 
 (i) each and every Account; 

(ii) all cash; 

(iii) the Cash Collateral Account and all monies, securities, Instruments and other investments deposited or required to be
deposited in the Cash Collateral Account; 
 (iv) all Chattel Paper (including, without limitation, all Tangible Chattel
Paper and all Electronic Chattel Paper); 
 (v) all Commercial Tort Claims described on Schedule 5 hereto as updated from
time to time; 
 (vi) all computer programs owned by such Assignor and all intellectual property rights therein and all other
proprietary information of such Assignor, including but not limited to Domain Names and Trade Secret Rights, together with all causes of action arising prior to or after the date hereof for infringement of such rights or unfair competition regarding
the same and all income, royalties, damages and payments now or hereafter due with respect to any of the foregoing; 
 (vii)
all Contracts, together with all Contract Rights arising thereunder; 
 (viii) all Copyrights, together with all causes of
action arising prior to or after the date hereof for infringement of any Copyrights or unfair competition regarding the same and all income, royalties, damages and payments now or hereafter due with respect to any of the foregoing; 

(ix) all Equipment; 

(x) all Deposit Accounts and all other demand, deposit, time, savings, cash management, passbook and similar accounts
maintained by such Assignor with any Person and all monies deposited or required to be deposited in any of the foregoing; 

(xi) all Documents; 

(xii) all General Intangibles (including any Equity Interests in other Persons that do not constitute Investment Property);

  
 2 

 (xiii) all Goods; 

(xiv) all Instruments; 

(xv) all Inventory; 

(xvi) all Investment Property; 

(xvii) all Letter-of-Credit Rights (whether or
not the respective letter of credit is evidenced by a writing); 
 (xviii) all Marks, together with the registrations and
right to all renewals thereof, the goodwill of the business of such Assignor symbolized by the Marks and all causes of action arising prior to or after the date hereof for infringement of any of the Marks or unfair competition regarding the same and
all income, royalties, damages and payments now or hereafter due with respect to any of the foregoing; 
 (xix) all Patents,
together with all causes of action arising prior to or after the date hereof for infringement of any of the Patents or unfair competition regarding the same and all income, royalties, damages and payments now or hereafter due with respect to any of
the foregoing; 
 (xx) all Permits; 

(xxi) all Software and all Software licensing rights, all writings, plans, specifications and schematics, all engineering
drawings, customer lists, credit files, goodwill and licenses, and all recorded data of any kind or nature, regardless of the medium of recording; 

(xxii) all Supporting Obligations; 

(xxiii) all other intellectual and similar property of every kind and nature and all embodiments or fixations thereof and
related documentation, registration and franchises, together with all causes of action arising prior to or after the date hereof for infringement of any such rights or unfair competition regarding the same and all income, royalties, damages and
payments now or hereafter due with respect to any of the foregoing; and 
 (xxiv) all Proceeds and products of any and all of
the foregoing (all of the above, the “Collateral”); 
 provided that no Assignor shall be required to grant a
security interest hereunder in (and the term “Collateral” shall not include) any Excluded Collateral (so long as the same remains “Excluded Collateral” in accordance with the definition thereof). 

(b) The security interest of the Collateral Agent under this Agreement extends to all Collateral which any Assignor may acquire, or with
respect to which any Assignor may obtain rights, at any time during the term of this Agreement. 
 (c) Notwithstanding anything to the
contrary contained herein: 
 (i) the property subject to the security interest reflected in this instrument includes all of
the right, title and interest of each Assignor in certain mortgages and/or participation interests related to such mortgages (“Pooled Mortgages”) and pooled under the mortgage-backed securities program of the Government National
Mortgage Association (“GNMA”), pursuant to section 306(g) of the National Housing Act, 12 U.S.C. § 1721(g); 

  
 3 

 (ii) to the extent that the security interest reflected in this instrument
relates in any way to the Pooled Mortgages, such security interest is subject and subordinate all rights, powers and prerogatives of GNMA, whether now existing or hereafter arising, under and in connection with: (i) 12 U.S.C. § 1721(g) and any
implementing regulations; (ii) the terms and conditions of that certain GNMA Acknowledgment Agreement, with respect to the Security Interest (as defined in the GNMA Acknowledgement Agreement); (iii) applicable Guaranty Agreements (as defined in
the GNMA Acknowledgement Agreement) and contractual agreements between GNMA and Reverse Mortgage Solutions, Inc.; and (iv) the GNMA Mortgage-Backed Securities Guide, Handbook 5500.3 Rev. 1, and other applicable guides (items (i), (iii) and
(iv), collectively, the “Ginnie Mae Contract”); it being understood that in the event the enforcement of such security interest could reasonably be expected to conflict with the provisions of the GNMA Acknowledgment Agreement
referenced in item (ii) above, the terms, conditions and restrictions imposed under the GNMA Acknowledgment Agreement shall control; 

(iii) such rights, powers and prerogatives of GNMA include, but are not limited to, GNMA’s right, by issuing a letter of
extinguishment to each Assignor, to effect and complete the extinguishment of all redemption, equitable, legal or other right, title or interest of each Assignor in the Pooled Mortgages, in which event the security interest as it relates in any way
to the Pooled Mortgages shall instantly and automatically be extinguished as well; and 
 (iv) for purposes of clarification,
“subject and subordinate” in clause (ii) above means, among other things, that any cash held by the Collateral Agent as collateral and any cash proceeds received by the Collateral Agent in respect of any sale or other disposition of,
collection from, or other realization upon, all or any part of the collateral may only be applied by the Collateral Agent to the extent that such proceeds have been received by, or for the account of, the Debtor free and clear of all GNMA rights and
other restrictions on transfer under applicable GNMA guidelines; provided that this clause (iv) shall not be interpreted as establishing rights in favor of GNMA except to the extent that such rights are reflected in, or arise under, the Ginnie
Mae Contract. 
 (d) Notwithstanding anything to the contrary contained herein, at any time during which a Freddie Acknowledgement Agreement
has been entered into and is effective, the security interest created by this Agreement in the Servicing Security Interest (as defined in the Freddie Acknowledgement Agreement) is subject and subordinate in each and every respect to (a) all
rights, powers and prerogatives of one or more of the following: the Federal Home Loan Mortgage Corporation, the Federal National Mortgage Association, the GNMA, or such other investors that own mortgage loans, or which guaranty payments on
securities based on and backed by pools of mortgage loans, identified on the exhibit(s) or schedule(s) attached to this financing statement (each, an “Investor”); and (b) all claims of an Investor arising out of or relating to
any and all breaches, defaults and outstanding obligations of the debtor to the Investor. Such rights, powers and prerogatives of each Investor may include, without limitation, one or more of the following: the right of an Investor to disqualify (in
whole or in part) the debtor named herein from participating in a mortgage selling or servicing program or a securities guaranty program with the Investor; the right to terminate (in whole or in part) contract rights of the debtor relating to such a
mortgage selling or servicing program or securities guaranty program; and the right to transfer and sell all or any portion of such contract rights following the termination of those rights. 

  
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 ARTICLE 2 

GENERAL REPRESENTATIONS, WARRANTIES AND COVENANTS 

Each Assignor represents, warrants and covenants, which representations, warranties and covenants shall survive execution and delivery of this
Agreement, as follows: 
 Section 2.01 Necessary Filings. All filings, registrations, recordings and other actions necessary or
appropriate to create, preserve and perfect the security interest granted by such Assignor to the Collateral Agent hereby (x) in respect of the UCC Filing Collateral have been accomplished as of the Closing Date and (y) in respect of
Collateral other than UCC Filing Collateral will be accomplished, to the extent not accomplished as of the Closing Date after use of commercially reasonable efforts by such Assignor, on or prior to the date that is 60 days (or such longer period as
consented to by the Collateral Agent in its reasonable discretion) after the Closing Date (in each case other than as permitted by this Agreement) and the security interest granted to the Collateral Agent pursuant to this Agreement in and to the
Collateral creates or will create, as of the applicable date, a valid and, together with all such filings, registrations, recordings and other actions, perfected security interest therein prior to the rights of all other Persons therein and subject
to no other Liens (in each case, other than Permitted Liens) and is entitled to all the rights, priorities and benefits afforded by the Uniform Commercial Code or other relevant law as enacted in any relevant jurisdiction to perfected security
interests, in each case to the extent that the Collateral consists of the type of property in which a security interest may be perfected by possession or control (within the meaning of the UCC as in effect on the date hereof in the State of New
York), by filing a financing statement under the Uniform Commercial Code as enacted in any relevant jurisdiction or by a filing of a Copyright Security Agreement, a Patent Security Agreement, a Trademark Security Agreement or other similar
instrument, as applicable, in the respective form attached hereto in the United States Patent and Trademark Office or in the United States Copyright Office, in each case other than as otherwise permitted by this Agreement. 

Section 2.02 No Liens. Such Assignor is, and as to all Collateral acquired by it from time to time after the date hereof such
Assignor will be, the owner of all Collateral free from any Lien of any Person (other than Permitted Liens), and such Assignor shall defend the Collateral against all claims and demands of all Persons at any time claiming the same or any interest
therein adverse to the Collateral Agent (other than Collateral sold to a Person that is not an Assignor in compliance with the Credit Agreement and the other Credit Documents). 

Section 2.03 Other Financing Statements. As of the date hereof, there is no financing statement (or similar statement or
instrument of registration under the law of any jurisdiction) covering or purporting to cover any interest of any kind in the Collateral (other than financing statements filed in respect of Permitted Liens), and so long as the Termination Date has
not occurred, such Assignor will not execute or authorize to be filed in any public office any financing statement (or similar statement or instrument of registration under the law of any jurisdiction) or statements relating to the Collateral,
except financing statements filed or to be filed in respect of and covering the security interests granted hereby by such Assignor or in connection with Permitted Liens. 

Section 2.04 Chief Executive Office, Record Locations. The chief executive office of such Assignor is, on the date of this
Agreement, located at the address indicated on Schedule 1 hereto for such Assignor. During the period of the five years preceding the date of this Agreement, the chief executive office of such Assignor has not been located at any address other than
that indicated on Schedule 1 in accordance with the immediately preceding sentence, in each case unless each such other address is also indicated on Schedule 1 hereto for such Assignor. 

Section 2.05 [Intentionally Omitted]. 

  
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 Section 2.06 Legal Names; Type of Organization (and Whether a Registered Organization
and/or a Transmitting Utility); Jurisdiction of Organization; Location; Organizational Identification Numbers; Federal Employer Identification Number; Changes Thereto; Etc. The exact legal name of each Assignor, the type of organization of such
Assignor, the jurisdiction of organization of such Assignor, such Assignor’s Location, the organizational identification number (if any) of such Assignor, the Federal Employer Identification Number (if any) of such Assignor; and whether or not
such Assignor is a Transmitting Utility, is listed on Schedule 2 hereto for such Assignor. Such Assignor shall not change its legal name, its type of organization, its status as a Registered Organization (in the case of a Registered Organization),
its status as a Transmitting Utility or as a Person which is not a Transmitting Utility, as the case may be, its jurisdiction of organization, its Location, its organizational identification number (if any), or its Federal Employer Identification
Number (if any) from that listed on Schedule 2 hereto, except that any such changes shall be permitted (so long as not in violation of the applicable requirements of the Credit Documents) if (i) it shall have given to the Collateral Agent
written notice of each change prior to the date of such change to the information listed on Schedule 2 (as adjusted for any subsequent changes thereto previously made in accordance with this sentence), together with a supplement to Schedule 2 which
shall correct all information contained therein for such Assignor and (ii) in connection with such change or changes, it shall have taken all action reasonably requested by the Collateral Agent to maintain the security interest of the
Collateral Agent in the Collateral intended to be granted hereby at all times fully perfected and in full force and effect. In addition, to the extent that such Assignor does not have an organizational identification number on the date hereof and
later obtains one, such Assignor shall promptly thereafter notify the Collateral Agent of such organizational identification number and shall take all actions reasonably satisfactory to the Collateral Agent to the extent necessary to maintain the
security interest of the Collateral Agent in the Collateral intended to be granted hereby fully perfected and in full force and effect. 

Section 2.07 Certain Significant Transactions. During the two-year period preceding the
date of this Agreement, no Person shall have merged or consolidated with or into any Assignor, and no Person shall have liquidated into, or transferred all or substantially all of its assets to, any Assignor, in each case except as described in
Schedule 3 hereto. With respect to any transactions so described in Schedule 3 hereto, the respective Assignor shall have furnished to the Collateral Agent such information with respect to the Person (and the assets of the Person and locations
thereof) which merged with or into or consolidated with such Assignor, or was liquidated into or transferred all or substantially all of its assets to such Assignor, and shall have furnished to the Collateral Agent such UCC lien searches as may have
been requested by the Collateral Agent with respect to such Person and its assets, to establish that no security interest (excluding Permitted Liens) continues perfected on the date hereof with respect to any Person described above (or the assets
transferred to the respective Assignor by such Person), including without limitation pursuant to Section 9-316(a)(3) of the UCC. 

Section 2.08 [Intentionally Omitted]. 

Section 2.09 [Intentionally Omitted]. 

Section 2.10 Deposit Accounts. Schedule 9 hereto sets forth under the heading “Deposit Accounts” all of the Deposit
Accounts (other than Excluded Accounts) held by each Assignor as of the date hereof. As of the date hereof, such Assignor is the sole account holder of each such Deposit Account and such Assignor has not consented to, and is not otherwise aware of,
any Person (other than the Collateral Agent or the depository institution at which such Deposit Account is maintained) having either sole dominion and control (within the meaning of common law) or “control” (within the meaning of
Section 9–104 of the UCC) over any such Deposit Account. 

  
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 Section 2.11 Recourse. This Agreement is made with full recourse to each Assignor and
pursuant to and upon all the warranties, representations, covenants and agreements on the part of such Assignor contained herein, in the Secured Debt Agreements and otherwise in writing in connection herewith or therewith. 

ARTICLE 3 
 SPECIAL
PROVISIONS CONCERNING ACCOUNTS; CONTRACT RIGHTS; INSTRUMENTS; 

CHATTEL PAPER AND CERTAIN OTHER COLLATERAL 

Section 3.01 [Intentionally Omitted]. 

Section 3.02 Maintenance of Records. Each Assignor will keep and maintain at its own cost and expense materially accurate records
of its Accounts and Contracts in accordance with Section 5.02 of the Credit Agreement. 
 Section 3.03 Direction to Account
Debtors; Contracting Parties; etc. Upon the occurrence and during the continuance of an Event of Default, if the Collateral Agent so directs any Assignor, such Assignor agrees (a) to cause all payments on account of the Accounts and
Contracts to be made directly to the Cash Collateral Account, (b) that the Collateral Agent may, at its option, directly notify the obligors with respect to any Accounts and/or under any Contracts to make payments with respect thereto as
provided in the preceding clause (a), and (c) that the Collateral Agent may enforce collection of any such Accounts and Contracts and may adjust, settle or compromise the amount of payment thereof, in the same manner and to the same extent as
such Assignor. Without notice to or assent by any Assignor, the Collateral Agent may, upon the occurrence and during the continuance of an Event of Default, apply any or all amounts then in, or thereafter deposited in, the Cash Collateral Account
toward the payment of the Secured Obligations in the manner provided in Section 7.04 of this Agreement. The reasonable costs and expenses of collection (including reasonable attorneys’ fees), whether incurred by an Assignor or the
Collateral Agent, shall be borne by the relevant Assignor. The Collateral Agent shall deliver a copy of each notice referred to in the preceding clause (b) to the relevant Assignor, provided that (x) the failure by the Collateral
Agent to so notify such Assignor shall not affect the effectiveness of such notice or the other rights of the Collateral Agent created by this Section 3.03 and (y) no such notice shall be required if an Event of Default of the type
described in Section 7.01(e) of the Credit Agreement has occurred and is continuing. 
 Section 3.04 [Intentionally
Omitted]. 
 Section 3.05 Collection. (a) Each Assignor shall endeavor in accordance with reasonable business practices
to cause to be collected from the account debtor named in each of its Accounts or obligor under any Contract, as and when due any and all amounts owing under or on account of such Account or Contract (including, without limitation, amounts which are
delinquent, such amounts to be collected in accordance with generally accepted lawful collection procedures), and apply forthwith upon receipt thereof all such amounts as are so collected to the outstanding balance of such Account or under such
Contract. Except as otherwise directed by the Collateral Agent after the occurrence and during the continuation of an Event of Default, any Assignor may allow in its reasonable business judgment (to be determined by such Assignor in good faith), as
adjustments to amounts owing under its Accounts and Contracts (i) an extension or renewal of the time or times of payment, or settlement for less than the total unpaid balance, which such Assignor finds appropriate in accordance with its
reasonable business judgment and (ii) a refund or credit due as a result of returned or damaged merchandise or improperly performed services or for other reasons which such Assignor finds appropriate in accordance with its reasonable business
judgment. The reasonable costs and expenses (including, without limitation, reasonable attorneys’ fees) of collection, whether incurred by an Assignor or the Collateral Agent, shall be borne by the relevant Assignor. 

  
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 (b) In accordance with its reasonable business judgment (to be determined by such Assignor in
good faith), at each applicable Assignor’s sole cost and expense, such Assignor will appear in and defend any action or proceedings arising under, growing out of or in any manner connected with the obligations, covenants, conditions, duties,
agreements or obligations of such Assignor under any Contract and/or Account of such Assignor. 
 Section 3.06 Instruments. If
any Assignor owns or acquires any Instrument constituting Collateral with a principal amount in excess of $500,000 (other than (x) checks and other payment instruments received and collected in the ordinary course of business and (y) any
Instrument subject to pledge pursuant to the Pledge Agreement), such Assignor will promptly (and in any event within 30 days) following request by the Collateral Agent notify the Collateral Agent thereof, and if an Event of Default has occurred and
is continuing, upon request by the Collateral Agent, will promptly deliver such Instrument to the Collateral Agent appropriately endorsed to the order of the Collateral Agent. 

Section 3.07 Assignors Remain Liable Under Accounts. (a) Anything herein to the contrary notwithstanding, the Assignors shall
remain liable under each of the Accounts to observe and perform all of the conditions and obligations to be observed and performed by it thereunder, all in accordance with the terms of any agreement giving rise to such Accounts, except to the extent
that the failure to comply therewith could not, either individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. Neither the Collateral Agent nor any other Secured Creditor shall have any obligation or liability
under any Account (or any agreement giving rise thereto) by reason of or arising out of this Agreement or the receipt by the Collateral Agent or any other Secured Creditor of any payment relating to such Account pursuant hereto, nor shall the
Collateral Agent or any other Secured Creditor be obligated in any manner to perform any of the obligations of any Assignor under or pursuant to any Account (or any agreement giving rise thereto), to make any payment, to make any inquiry as to the
nature or the sufficiency of any payment received by them or as to the sufficiency of any performance by any party under any Account (or any agreement giving rise thereto), to present or file any claim, to take any action to enforce any performance
or to collect the payment of any amounts which may have been assigned to them or to which they may be entitled at any time or times. 
 (b)
If an Event of Default has occurred and is continuing, should any Assignor fail to perform or discharge its obligations or duties under the Accounts as required in Section 3.07(a) above, then the Collateral Agent may, but shall have no
obligation to (and shall not thereby release such Assignor from any obligation hereunder), perform or discharge any such obligation or duty to such extent as the Collateral Agent may, in its reasonable business judgment, deem necessary or advisable
to protect the security provided hereby, including appearing in and defending any action or proceeding purporting to affect the security hereof and the rights or powers of the Collateral Agent hereunder. In exercising any such powers, the Collateral
Agent may pay necessary and reasonable costs (including reasonable attorneys’ and paralegals’ fees and expenses), and all such reasonable expenses paid or incurred by the Collateral Agent shall be for the account of the respective Assignor
and shall constitute additional Secured Obligations of such Assignor, payable upon demand, and shall bear interest at the default rate of interest set forth in the Credit Agreement. 

Section 3.08 Assignors Remain Liable Under Contracts. (a) Anything herein to the contrary notwithstanding, the Assignors
shall remain liable under each of the Contracts to observe and perform all of the conditions and obligations to be observed and performed by them thereunder, all in accordance with and pursuant to the terms and provisions of each Contract, except to
the extent that the failure to comply therewith could not, either individually or in the aggregate, reasonably be expected to have a 

  
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Material Adverse Effect. Neither the Collateral Agent nor any other Secured Creditor shall have any obligation or liability under any Contract by reason of or arising out of this Agreement or the
receipt by the Collateral Agent or any other Secured Creditor of any payment relating to such Contract pursuant hereto, nor shall the Collateral Agent or any other Secured Creditor be obligated in any manner to perform any of the obligations of any
Assignor under or pursuant to any Contract, to make any payment, to make any inquiry as to the nature or the sufficiency of any performance by any party under any Contract, to present or file any claim, to take any action to enforce any performance
or to collect the payment of any amounts which may have been assigned to them or to which they may be entitled at any time or times. 
 (b)
If an Event of Default has occurred and is continuing, should any Assignor fail to perform or discharge its obligations or duties under the Contracts as required in Section 3.08(a) above, then the Collateral Agent may, but shall have no
obligation to (and shall not thereby release such Assignor from any obligation hereunder), perform or discharge any such obligation or duty to such extent as the Collateral Agent may, in its reasonable business judgment, deem necessary or advisable
to protect the security provided hereby, including appearing in and defending any action or proceeding purporting to affect the security hereof and the rights or powers of the Collateral Agent hereunder. In exercising any such powers, the Collateral
Agent may pay necessary and reasonable costs (including reasonable attorneys’ and paralegals’ fees and expenses), and all such reasonable expenses paid or incurred by the Collateral Agent shall be for the account of the respective Assignor
and shall constitute additional Secured Obligations of such Assignor, payable upon demand, and shall bear interest at the default rate of interest set forth in the Credit Agreement. 

Section 3.09 Deposit Accounts. With respect to any Deposit Account other than Excluded Accounts maintained by any Assignor, such
Assignor shall promptly (and in any event within 60 days or such longer period as the Collateral Agent may agree in its discretion) use commercially reasonable efforts to enter into and cause the depositary institution maintaining such account to
enter into a Control Agreement with respect to such Deposit Account; provided that the foregoing requirements shall not apply to Deposit Accounts held by the Assignors at Bank of America, N.A. or any of its affiliates; provided further, for the
avoidance of doubt, the entry into a Control Agreement shall not be a condition to the opening of any Deposit Account at a depositary institution. 

Section 3.10 Letter-of-Credit Rights. Attached
hereto as Schedule 4 is a true and correct list as of the date hereof of all letters of credit with a stated amount of $1,500,000 or more issued in favor of each Assignor, as beneficiary thereunder. If any Assignor is at any time a beneficiary under
a letter of credit with a stated amount of $1,500,000 or more, such Assignor shall promptly (and in any event within 30 days) following request by the Collateral Agent notify the Collateral Agent thereof and, if an Event of Default has occurred and
is continuing, upon the request of the Collateral Agent, such Assignor shall pursuant to an agreement in form and substance reasonably satisfactory to the Collateral Agent, use its commercially reasonable efforts to (i) arrange for the issuer
and any confirmer of such letter of credit to consent to an assignment to the Collateral Agent of the proceeds of any drawing under such letter of credit or (ii) arrange for the Collateral Agent to become the transferee beneficiary of such
letter of credit, with the Collateral Agent agreeing, in each case, that the proceeds of any drawing under the letter of credit are to be delivered to the Assignor, except after the occurrence and during the continuance of an Event of Default, in
which case such proceeds shall be applied as provided in the Agreement. 
 Section 3.11 Commercial Tort Claims. All Commercial
Tort Claims in an amount (taking the greater of the aggregate claimed damages thereunder or the reasonably estimated value thereof) of $1,500,000 or more of each Assignor in existence on the date of this Agreement are described in Schedule 5 hereto
with the specificity required to satisfy Official Comment 5 to UCC Section 9-108. If any Assignor shall at any time after the date of this Agreement acquire a Commercial Tort Claim in an

  
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amount (taking the greater of the aggregate claimed damages thereunder or the reasonably estimated value thereof) of $1,500,000 or more, such Assignor shall promptly (and in any event within 30
days) notify the Collateral Agent thereof in a writing signed by such Assignor and describing the details thereof with the specificity required to satisfy Official Comment 5 to UCC Section 9-108 and, upon
request by the Collateral Agent, shall grant to the Collateral Agent in such writing a security interest therein and in the proceeds thereof, all upon the terms of this Agreement, with such writing to be in form and substance reasonably satisfactory
to the Collateral Agent. 
 Section 3.12 Chattel Paper. Upon the request of the Collateral Agent made at any time or from time
to time, each Assignor shall promptly (and in any event within 30 days) following request by the Collateral Agent furnish to the Collateral Agent a list of each Electronic Chattel Paper held or owned by such Assignor with an amount in excess of
$500,000 payable thereunder or in connection therewith. Furthermore, if an Event of Default has occurred and is continuing, upon request by the Collateral Agent, each Assignor shall promptly take all actions which are reasonably practicable so that
the Collateral Agent has “control” of such Electronic Chattel Paper in accordance with the requirements of Section 9-105 of the UCC. Each Assignor will, if an Event of Default has occurred and
is continuing, within 10 days following any request by the Collateral Agent, deliver all of its Tangible Chattel Paper to the Collateral Agent. 

Section 3.13 Further Actions. Each Assignor will, at its own expense, make, execute, endorse, acknowledge, file and/or deliver to
the Collateral Agent from time to time such vouchers, invoices, schedules, confirmatory assignments, conveyances, financing statements, transfer endorsements, certificates, reports and other assurances or instruments and take such further steps,
including any and all actions as may be necessary or required under the Federal Assignment of Claims Act, relating to its Accounts, Contracts, Instruments and other property or rights covered by the security interest hereby granted, as the
Collateral Agent may reasonably require. 
 ARTICLE 4 

SPECIAL PROVISIONS CONCERNING TRADEMARKS AND DOMAIN
NAMES 
 Section 4.01 Additional Representations and Warranties and Covenants. (a) Each Assignor represents
and warrants that it is the true and lawful owner of or otherwise has the right to use the registered and applied-for Marks listed in Schedule 6 hereto for such Assignor and that said listed Marks include all
active United States Marks registered with and applications for registration of United States Marks made to the United States Patent and Trademark Office by such Assignor. Except as could not, either individually or in the aggregate, reasonably be
expected to have a Material Adverse Effect, each Assignor represents and warrants that the registrations and applications listed in Schedule 6 hereto are valid and subsisting and have not been canceled and that such Assignor is not aware of
(i) any third- party claim that any of said registrations is invalid or unenforceable, (ii) any valid basis for such claim or (iii) any reason that any of said applications will not mature into registrations. Each Assignor hereby
grants to the Collateral Agent an absolute power of attorney to sign, upon the occurrence and during the continuance of an Event of Default, any document which may be required by the United States Patent and Trademark Office or similar registrar in
order to effect an absolute assignment of all of such Assignor’s right, title and interest in each Mark, and record the same. 
 (b) On
the Closing Date (in the case of any Assignor existing as of such date) or the date on which it signs and delivers its first Security Agreement Supplement (in the case of any additional Assignor), such Assignor will sign and deliver to the
Collateral Agent a Trademark Security Agreement in respect of all Marks then owned by it. 

  
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 Section 4.02 Licenses and Assignments. Except as otherwise permitted by the Credit
Documents, each Assignor hereby agrees not to divest itself of any right under any material Mark or material Domain Name absent prior written approval of the Collateral Agent. 

Section 4.03 Infringements. Each Assignor agrees, to take all reasonable action against any Person infringing any Mark or Domain
Name in any manner that, either individually or in the aggregate, could reasonably be expected to have a Material Adverse Effect. 

Section 4.04 [Intentionally Omitted]. 

Section 4.05 [Intentionally Omitted]. 

Section 4.06 Future Registered Marks. If any Mark registration is issued hereafter to any Assignor as a result of any application
now or hereafter pending before the United States Patent and Trademark Office or a statement of use is filed and accepted with respect to an Assignor’s application for registration of a Mark on an intent-to-use basis, within 60 days after the last day of the calendar quarter during which such Assignor received such certificate or similar indicia of ownership or acceptance of such statement of use by
the United States Patent and Trademark Office, such Assignor shall deliver to the Collateral Agent a copy of such registration certificate or similar indicia of ownership or notify the Collateral Agent of such acceptance, and a grant of a security
interest in such Mark, to the Collateral Agent and at the expense of such Assignor, confirming the grant of a security interest in such Mark to the Collateral Agent hereunder, the form of such security to be substantially in the form of Exhibit A
hereto or in such other form as may be reasonably satisfactory to the Collateral Agent. 
 Section 4.07 Remedies. If an Event of
Default shall occur and be continuing, the Collateral Agent may, by written notice to the relevant Assignor, take any or all of the following actions: (a) declare the entire right, title and interest of such Assignor in and to each of the Marks
and Domain Names, together with all trademark rights and rights of protection to the same, vested in the Collateral Agent for the benefit of the Secured Creditors, in which event such rights, title and interest shall immediately vest in the
Collateral Agent for the benefit of the Secured Creditors, and the Collateral Agent shall be entitled to exercise the power of attorney referred to in Section 4.01 hereof to execute, cause to be acknowledged and notarized and record said
absolute assignment with the applicable agency or registrar; (b) take and use or sell the Marks or Domain Names of such Assignor and the goodwill of such Assignor’s business symbolized by the Marks or Domain Names and the right to carry on
the business and use the assets of such Assignor in connection with which the Marks or Domain Names have been used; and (c) direct such Assignor to refrain, in which event such Assignor shall refrain, from using the Marks or Domain Names in any
manner whatsoever, directly or indirectly, and such Assignor shall execute such further documents that the Collateral Agent may reasonably request to further confirm this and to transfer ownership of such Assignor’s right, title and interest in
and to the Marks or Domain Names and registrations and any pending trademark applications in the United States Patent and Trademark Office or applicable Domain Name registrar to the Collateral Agent. 

ARTICLE 5 
 SPECIAL
PROVISIONS CONCERNING PATENTS, COPYRIGHTS AND TRADE SECRETS 

Section 5.01 Additional Representations and Warranties and Covenants. (a) Each Assignor represents and warrants that it is
the true and lawful owner of all rights in or otherwise has the right to use (i) all Trade Secret Rights of such Assignor, (ii) the Patents listed in Schedule 7 hereto for such Assignor and that said Patents include all the active United
States patents and applications for United States patents that such Assignor owns as of the date hereof and (iii) the Copyrights listed in Schedule 8 hereto for such Assignor and that said Copyrights include all the active United States
copyrights registered with the 

  
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United States Copyright Office and applications for registration of United States copyrights that such Assignor owns as of the date hereof. Except as could not either individually or in the
aggregate reasonably be expected to have a Material Adverse Effect, each Assignor further represents and warrants that (x) the registrations for United States Patents and Copyrights listed in Schedule 7 and 8 hereto are subsisting, have not
been canceled and that such Assignor is not aware of any third-party claim that any such registration is invalid or unenforceable, and is not aware of any valid basis for such claim and (y) such Assignor is not aware that there is any reason
that any applications for United States Patents and Copyrights listed in Schedule 7 and 8 hereto will not mature into registrations. Each Assignor further warrants that it has no knowledge that any aspect of such Assignor’s present or
contemplated business operations infringes or will infringe any patent or copyright of any other Person or such Assignor has misappropriated any Trade Secret or proprietary information which, in each case, either individually or in the aggregate,
could reasonably be expected to have a Material Adverse Effect. Each Assignor hereby grants to the Collateral Agent an absolute power of attorney to sign, upon the occurrence and during the continuance of any Event of Default, any document which may
be required by the United States Patent and Trademark Office or the United States Copyright Office in order to effect an absolute assignment of all such Assignor’s right, title and interest in each Patent or Copyright, and to record the same.

 (b) On the Closing Date (in the case of any Assignor existing as of such date) or the date on which it signs and delivers its first
Security Agreement Supplement (in the case of any additional Assignor), such Assignor will sign and deliver to the Collateral Agent a Patent Security Agreement and a Copyright Security Agreement in respect of all Patents and Copyrights,
respectively, owned by it. 
 Section 5.02 Licenses and Assignments. Except as otherwise permitted by the Credit Documents, each
Assignor hereby agrees not to divest itself of any right under any material Patent or Copyright absent prior written approval of the Collateral Agent. 

Section 5.03 Infringements. Each Assignor agrees to take all reasonable action against any Person infringing any Patent or
Copyright or any Person misappropriating any Trade Secret Right, in each case to the extent that such infringement or misappropriation, either individually or in the aggregate, could reasonably be expected to have a Material Adverse Effect. 

Section 5.04 [Intentionally Omitted]. 

Section 5.05 Maintenance of Patents or Copyrights. At its own expense, each Assignor shall make timely payment of all
post-issuance fees required to maintain in force its rights under each material Patent or Copyright, absent prior written consent of the Collateral Agent (other than any such Patents or Copyrights which are deemed by such Assignor in its reasonable
business judgment to no longer be useful in its business or operations). 
 Section 5.06 Prosecution of Patent or Copyright
Applications. At its own expense, each Assignor shall diligently prosecute all material applications for (a) United States Patents listed in Schedule 7 hereto and (b) Copyright applications listed on Schedule 8 hereto. 

Section 5.07 Other Patents and Copyrights. Within 60 days after the last day of the calendar quarter during which the acquisition
or issuance of a United States Patent, registration of a Copyright, or acquisition of a registered Copyright, or of filing of an application for a United States Patent or Copyright occurs, the relevant Assignor shall deliver to the Collateral Agent
a copy of said Copyright or Patent, or certificate or registration of, or application therefor, as the case may be, with a grant of a security interest as to such Patent or Copyright, as the case may be, to the Collateral Agent and at the expense of
such Assignor, confirming the grant of a security interest, the form of such grant of a security interest to be substantially in the form of Exhibit B or C hereto, as appropriate, or in such other form as may be reasonably satisfactory to the
Collateral Agent. 

  
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 Section 5.08 Remedies. If an Event of Default shall occur and be continuing, the
Collateral Agent may, by written notice to the relevant Assignor, take any or all of the following actions: (a) declare the entire right, title, and interest of such Assignor in each of the Patents and Copyrights vested in the Collateral Agent
for the benefit of the Secured Creditors, in which event such right, title, and interest shall immediately vest in the Collateral Agent for the benefit of the Secured Creditors, in which case the Collateral Agent shall be entitled to exercise the
power of attorney referred to in Section 5.01 hereof to execute, cause to be acknowledged and notarized and to record said absolute assignment with the applicable agency; (b) take and practice or sell the Patents and Copyrights; and
(c) direct such Assignor to refrain, in which event such Assignor shall refrain, from practicing the Patents and using the Copyrights directly or indirectly, and such Assignor shall execute such further documents as the Collateral Agent may
reasonably request further to confirm this and to transfer ownership of the Patents and Copyrights to the Collateral Agent for the benefit of the Secured Creditors. 

ARTICLE 6 

PROVISIONS CONCERNING ALL COLLATERAL 

Section 6.01 Protection of Collateral Agent’s Security. Except as otherwise permitted by the Credit Documents,
each Assignor will do nothing to impair the rights of the Collateral Agent in the Collateral in any material respect. Each Assignor will at all times maintain insurance, at such Assignor’s own expense to the extent and in the manner provided in
the Credit Agreement. Except to the extent otherwise permitted to be retained by such Assignor or applied by such Assignor pursuant to the terms of the Secured Debt Agreements, the Collateral Agent shall, at the time any proceeds of such insurance
are distributed to the Secured Creditors, apply such proceeds in accordance with Section 7.04 hereof. Each Assignor assumes all liability and responsibility in connection with the Collateral acquired by it and the liability of such Assignor to
pay the Secured Obligations shall in no way be affected or diminished by reason of the fact that such Collateral may be lost, destroyed, stolen, damaged or for any reason whatsoever unavailable to such Assignor. 

Section 6.02 Warehouse Receipts Non-Negotiable. To the extent practicable and in the
respective Assignor’s prudent business judgment (to be determined by such Assignor in good faith), each Assignor agrees that if any warehouse receipt or receipt in the nature of a warehouse receipt is issued with respect to any of its
Inventory, such Assignor shall request that such warehouse receipt or receipt in the nature thereof shall not be “negotiable” (as such term is used in Section 7-104 of the Uniform Commercial
Code as in effect in any relevant jurisdiction or under other relevant law). 
 Section 6.03 Additional Information. Each
Assignor will, at its own expense, from time to time upon the reasonable request of the Collateral Agent, promptly (and in any event within 30 days after its receipt of the respective request) furnish to the Collateral Agent such information with
respect to the Collateral (including the identity of the Collateral or such components thereof as may have been requested by the Collateral Agent, the value and location of such Collateral, etc.) as may be requested by the Collateral Agent. Without
limiting the foregoing, each Assignor agrees that it shall promptly (and in any event within 30 days after its receipt of the respective request) furnish to the Collateral Agent such updated Schedules hereto as may from time to time be reasonably
requested by the Collateral Agent. 
 Section 6.04 Further Actions. Each Assignor will, at its own expense and upon the
reasonable request of the Collateral Agent, make, execute, endorse, acknowledge, file and/or deliver to the Collateral Agent from time to time such lists, descriptions and designations of its Collateral, documents of title, invoices, schedules,
confirmatory assignments, conveyances, financing statements, transfer endorsements, 

  
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certificates, reports and other assurances or instruments and take such further steps relating to the Collateral and other property or rights covered by the security interest hereby granted,
which the Collateral Agent deems reasonably appropriate or advisable to (i) perfect, preserve or protect its security interest in the Collateral, (ii) enable the Collateral Agent and the Secured Creditors to obtain the full benefits of the
Secured Debt Agreements, or (iii) enable the Collateral Agent to exercise and enforce any of its rights, powers and remedies with respect to any of such Assignor’s Collateral; provided that, unless an Event of Default has occurred
and is continuing, no Assignor shall be required (i) to deliver any documents or take any perfection steps required or governed by the laws of any non-U.S. jurisdiction, including the delivery of non-U.S. law pledge or charge agreements, non-U.S. law agreements or filings with respect to intellectual property, non-U.S. law
security assignments or other non-U.S. agreements or filings or (ii) to deliver any landlord or bailee waiver, any collateral access agreement or any similar document. 

Section 6.05 Financing Statements. Each Assignor agrees to deliver to the Collateral Agent (and, if required, execute) such
financing statements, in form reasonably acceptable to the Collateral Agent, as the Collateral Agent may from time to time reasonably request or as are reasonably necessary or desirable in the opinion of the Collateral Agent to establish and
maintain a valid, enforceable, perfected security interest in the Collateral as provided herein and the other rights and security contemplated hereby. Each Assignor authorizes the Collateral Agent to file in any jurisdiction any initial financial
statement or amendments thereto. Each Assignor will pay any applicable filing fees, recordation taxes and related expenses relating to its Collateral. Each Assignor hereby authorizes the Collateral Agent to file any such financing statements without
the signature of such Assignor where permitted by law (and such authorization includes describing the Collateral as “all assets” or “all personal property” of such Assignor or using words of similar effect). 

ARTICLE 7 
 REMEDIES
UPON OCCURRENCE OF AN EVENT OF DEFAULT 

Section 7.01 Remedies; Obtaining the Collateral Upon Default. Each Assignor agrees that, if any Event of Default shall have
occurred and be continuing, then and in every such case, the Collateral Agent, in addition to any rights now or hereafter existing under applicable law and under the other provisions of this Agreement or any other Credit Document, shall have all
rights as a secured creditor under any UCC (whether or not in effect in the jurisdiction where such rights are exercised), and such additional rights and remedies to which a secured creditor is entitled under the laws in effect in all relevant
jurisdictions and, without limiting the foregoing, may: 
 (a) personally, or by agents or attorneys, immediately take possession of the
Collateral or any part thereof, from such Assignor or any other Person who then has possession of any part thereof with or without notice or process of law, and for that purpose may enter upon such Assignor’s premises where any of the
Collateral is located and remove the same and use in connection with such removal any and all services, supplies, aids and other facilities of such Assignor; 

(b) instruct the obligor or obligors on any agreement, instrument or other obligation (including, without limitation, the Accounts and the
Contracts) constituting the Collateral to make any payment required by the terms of such agreement, instrument or other obligation directly to the Collateral Agent and may exercise any and all remedies of such Assignor in respect of such Collateral;

 (c) instruct all depository banks and/or securities intermediaries which have entered into a Control Agreement with the Collateral Agent
to transfer all monies, securities, credit balances, financial assets and instruments held by such depositary bank and/or securities intermediaries to the Cash Collateral Account and/or otherwise exercise other dominion and control over the Deposit
Accounts for which the Collateral Agent has control; 

  
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 (d) sell, assign or otherwise liquidate any or all of the Collateral or any part thereof in
accordance with Section 7.02 hereof, or direct such Assignor to sell, assign or otherwise liquidate any or all of the Collateral or any part thereof, and, in each case, take possession of the proceeds of any such sale or liquidation; 

(e) take possession of the Collateral or any part thereof, by directing such Assignor in writing to deliver the same to the Collateral Agent at
any reasonable place or places designated by the Collateral Agent, in which event such Assignor shall at its own expense: 

(i) forthwith cause the same to be moved to the place or places so designated by the Collateral Agent and there delivered to
the Collateral Agent; 
 (ii) store and keep any Collateral so delivered to the Collateral Agent at such place or places
pending further action by the Collateral Agent as provided in Section 7.02 hereof; and 
 (iii) while the Collateral
shall be so stored and kept, provide such security and maintenance services as shall be reasonably necessary to protect the same and to preserve and maintain it in good condition; 

(f) use, license or sublicense (without payment of royalty or other compensation to any Assignor), whether on an exclusive or nonexclusive
basis, any Marks, Domain Names, Patents, Copyrights or other intellectual property included in the Collateral now owned or hereafter acquired by any Assignor for such term and on such conditions and in such manner as the Collateral Agent shall in
its reasonable judgment determine (it being understood and agreed (x) that each Assignor hereby grants to the Collateral Agent, for purposes of enabling the Collateral Agent to exercise its rights and remedies under this Agreement in accordance
with its terms, an irrevocable license to so use, license or, to the extent necessary to exercise such rights and remedies, sublicense such Marks, Domain Names, Patents, Copyrights or other intellectual property, including access to all media in
which any of the licensed items may be recorded or stored and to all computer software and programs used for the compilation or printout thereof, and 

(g) that any license, sublicense or other transaction entered into by the Collateral Agent in accordance herewith shall be binding upon each
Assignor notwithstanding any subsequent cure of an Event of Default); provided, however, that nothing in this Section 7.01(f) shall require Assignors to grant any license that is prohibited by any rule of law, statute or regulation; 

(h) apply any monies constituting Collateral or proceeds thereof in accordance with the provisions of Section 7.04; 

(i) take any other action as specified in clauses (1) through (5), inclusive, of
Section 9-607 of the UCC; and 
 (j) obtain access to any Assignor’s data processing
equipment, computer hardware and software relating to the Collateral and use all of the foregoing and the information contained therein in any manner the Collateral Agent deems reasonably appropriate to satisfy the Secured Obligations; 

  
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 it being understood that each Assignor’s obligation so to deliver the Collateral is of the essence of this
Agreement and that, accordingly, upon application to a court of equity having jurisdiction, the Collateral Agent shall be entitled to a decree requiring specific performance by such Assignor of said obligation. By accepting the benefits of this
Agreement and each other Security Document, the Secured Creditors expressly acknowledge and agree that this Agreement and each other Security Document may be enforced only by the action of the Collateral Agent acting upon the instructions of the
Required Lenders and that no other Secured Creditor shall have any right individually to seek to enforce or to enforce this Agreement or to realize upon the security to be granted hereby, it being understood and agreed that such rights and remedies
may be exercised by the Collateral Agent for the benefit of the Secured Creditors upon the terms of this Agreement and the other Security Documents. 

Section 7.02 Remedies; Disposition of the Collateral. If any Event of Default shall have occurred and be continuing, then any
Collateral or any portion thereof repossessed by the Collateral Agent under or pursuant to Section 7.01 hereof and any other Collateral or any portion thereof whether or not so repossessed by the Collateral Agent, may be sold, assigned, leased
or otherwise disposed of under one or more contracts or as an entirety, and without the necessity of gathering at the place of sale the property to be sold, and in general in such manner, for cash, on credit or for future delivery at such time or
times, at such place or places (including, without limitation, at any exchange, broker’s board or at any of the Collateral Agent’s offices or elsewhere), at such price or prices and on such other terms as the Collateral Agent may, in
compliance with any mandatory requirements of applicable law, determine to be commercially reasonable irrespective of the impact of any such sales on the market price of the Collateral. Any of the Collateral may be sold, leased or otherwise disposed
of in the condition in which the same existed when taken by the Collateral Agent or after any overhaul or repair at the expense of the relevant Assignor which the Collateral Agent shall determine to be commercially reasonable. Any such sale, lease
or other disposition may be effected by means of a public disposition or private disposition, effected in accordance with the applicable requirements (in each case if and to the extent applicable) of Sections
9-610 through 9-613 of the UCC and/or such other mandatory requirements of applicable law as may apply to the respective disposition. The Collateral Agent may, without
notice or publication, adjourn any public or private disposition or cause the same to be adjourned from time to time by announcement at the time and place fixed for the disposition, and such disposition may be made at any time or place to which the
disposition may be so adjourned. The Collateral Agent shall not be obligated to make any sale of Collateral regardless of notice of sale having been given. To the extent permitted by any such requirement of law, the Collateral Agent may bid for and
become the purchaser (and may pay all or any portion of the purchase price by crediting Secured Obligations against the purchase price) of the Collateral or any item thereof, offered for disposition in accordance with this Section 7.02 without
accountability to the relevant Assignor. If, under applicable law, the Collateral Agent shall be permitted to make disposition of the Collateral within a period of time which does not permit the giving of notice to the relevant Assignor as
hereinabove specified, the Collateral Agent need give such Assignor only such notice of disposition as shall be required by such applicable law. Upon any sale or other disposition of Collateral by the Collateral Agent (including pursuant to a power
of sale granted by statute or under judicial proceeding), the receipt of the Collateral Agent or of the officer making such sale or disposition shall be sufficient discharge to the purchaser or purchasers of the Collateral so sold or disposed and
such purchaser or purchasers shall not be obligated to see to the application of any part of the purchase money paid to the Collateral Agent or such officer or be answerable in any way for the misapplication thereof. The Collateral Agent may
disclaim any warranty, as to title or as to any other matter, in connection with such sale or other disposition, and its doing so shall not be considered adversely to affect the commercial reasonableness of such sale or other disposition. If the
Collateral Agent sells any of the Collateral upon credit, the Assignors will be credited only with payment actually made by the purchaser, received by the Collateral Agent and applied in accordance with Section 7.04 hereof. In the event the
purchaser fails to pay for the Collateral, the Collateral Agent may resell the same, subject to the same rights and duties set forth herein. Each Assignor agrees to do or cause to be done all such other acts and things as may be reasonably necessary
to make such disposition or dispositions of all or any portion of the Collateral valid and binding and in compliance with any and all applicable laws, regulations, orders, writs, injunctions, decrees or awards of any and all courts, arbitrators or
governmental instrumentalities, domestic or foreign, having jurisdiction over any such sale or sales, all at such Assignor’s expense. 

  
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 Section 7.03 Waiver of Claims. Except as otherwise provided in this Agreement, EACH
ASSIGNOR HEREBY WAIVES, TO THE EXTENT PERMITTED BY APPLICABLE LAW (INCLUDING SECTION 9-602 OF THE UCC), NOTICE AND JUDICIAL HEARING IN CONNECTION WITH THE COLLATERAL AGENT’S TAKING POSSESSION OR THE
COLLATERAL AGENT’S DISPOSITION OF ANY OF THE COLLATERAL, INCLUDING, WITHOUT LIMITATION, ANY AND ALL PRIOR NOTICE AND HEARING FOR ANY PREJUDGMENT REMEDY OR REMEDIES, and each Assignor hereby further waives, to the extent permitted by law
(including Section 9-602 of the UCC): 
 (a) all damages occasioned by such taking of possession
or any such disposition except any damages which are the direct result of the Collateral Agent’s gross negligence or willful misconduct (as determined by a court of competent jurisdiction in a final and
non-appealable decision); 
 (b) all other requirements as to the time, place and terms of sale or
other requirements with respect to the enforcement of the Collateral Agent’s rights hereunder including, to the maximum extent permitted by law, any claim against any Secured Creditor arising because the price at which any Collateral may have
been sold at a private sale was less than the price that might have been obtained at a public sale, even if the Collateral Agent accepts the first offer received and does not offer such Collateral to more than one offeree; and 

(c) all rights of redemption, appraisement, valuation, stay, extension or moratorium now or hereafter in force under any applicable law in
order to prevent or delay the enforcement of this Agreement or the absolute sale of the Collateral or any portion thereof, and each Assignor, for itself and all who may claim under it, insofar as it or they now or hereafter lawfully may, hereby
waives the benefit of all such laws. 
 Any sale of, or the grant of options to purchase, or any other realization upon, any Collateral
shall operate to divest all right, title, interest, claim and demand, either at law or in equity, of the relevant Assignor therein and thereto, and shall be a perpetual bar both at law and in equity against such Assignor and against any and all
Persons claiming or attempting to claim the Collateral so sold, optioned or realized upon, or any part thereof, from, through and under such Assignor. 

Section 7.04 Application of Proceeds. (a) All moneys collected by the Collateral Agent (or, to the extent the Pledge
Agreement or any other Security Document requires proceeds of collateral under such other Security Document to be applied in accordance with the provisions of this Agreement, the pledgee or collateral agent under such other Security Document) upon
any sale or other disposition of the Collateral, together with all other moneys received by the Collateral Agent hereunder, shall be applied as follows: 

(i) first, to the payment of all amounts owing to the Collateral Agent of the type described in clauses (iii), (iv) and
(v) of the definition of “Secured Obligations”; 
 (ii) second, to the extent proceeds remain after the
application pursuant to preceding clause (i), an amount equal to the outstanding Primary Obligations in respect of interest (including post-petition interest) shall be paid to the Secured Creditors as provided in Section 7.04(f) hereof, with
each Secured Creditor receiving an amount equal to its outstanding Primary Obligations in respect of interest (including post-petition interest) or, if the proceeds are insufficient to pay in full all such Primary Obligations in respect of interest
(including post-petition interest), its Pro Rata Share of the amount remaining to be distributed; 

  
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 (iii) third, to the extent proceeds remain after the application pursuant
to preceding clause (i) and (ii), an amount equal to the outstanding remaining Primary Obligations shall be paid to the Secured Creditors as provided in Section 7.04(f) hereof, with each Secured Creditor receiving an amount equal to its
outstanding remaining Primary Obligations or, if the proceeds are insufficient to pay in full all such remaining Primary Obligations, its Pro Rata Share of the amount remaining to be distributed; 

(iv) fourth, to the extent proceeds remain after the application pursuant to the preceding clauses (i) through
(iii), an amount equal to the outstanding Secondary Obligations shall be paid to the Secured Creditors as provided in Section 7.04(f) hereof, with each Secured Creditor receiving an amount equal to its outstanding Secondary Obligations or, if
the proceeds are insufficient to pay in full all such Secondary Obligations, its Pro Rata Share of the amount remaining to be distributed; and 

(v) fifth, to the extent proceeds remain after the application pursuant to the preceding clauses (i) through (iv),
inclusive, and following the termination of this Agreement pursuant to Section 11.08(a) hereof, to the relevant Assignor or to whomever may be lawfully entitled to receive such surplus. 

Notwithstanding the foregoing, no amounts received from any Assignor shall be applied to any Excluded Swap Obligations of such Assignor. 

In making payments and allocations required by this Section, the Collateral Agent may rely upon information supplied to it pursuant to Section 7.04(g).
All distributions made by the Collateral Agent pursuant to this Section shall be final (except in the event of manifest error) and the Collateral Agent shall have no duty to inquire as to the application by any Secured Creditor of any amount
distributed to it. 
 (b) For purposes of this Agreement, (x) “Pro Rata Share” shall mean, when calculating a Secured
Creditor’s portion of any distribution or amount, that amount (expressed as a percentage) equal to a fraction the numerator of which is the then unpaid amount of such Secured Creditor’s Primary Obligations (or relevant portion thereof) or
Secondary Obligations, as the case may be, and the denominator of which is the then outstanding amount of all Primary Obligations (or relevant portion thereof) or Secondary Obligations, as the case may be, (y) “Primary Obligations”
shall mean (i) in the case of the Secured Credit Document Obligations, all principal of, premium and interest on, all Loans and L/C Disbursements and all Fees and (ii) in the case of the Secured Other Obligations, all amounts due under
each Secured Hedging Agreement (other than indemnities, fees (including, without limitation, attorneys’ fees) and similar obligations and liabilities) and (z) “Secondary Obligations” shall mean all Secured Obligations other
than Primary Obligations and Secured Obligations paid pursuant to Section 7.04(a)(i) hereof. 
 (c) When payments to Secured Creditors
are based upon their respective Pro Rata Shares, the amounts received by such Secured Creditors hereunder shall be applied (for purposes of making determinations under this Section 7.04 only) (i) first, to their Primary Obligations
and (ii) second, to their Secondary Obligations. If any payment to any Secured Creditor of its Pro Rata Share of any distribution would result in overpayment to such Secured Creditor, such excess amount shall instead be distributed in
respect of the unpaid Primary Obligations or Secondary Obligations, as the case may be, of the other Secured Creditors, with each Secured Creditor whose Primary Obligations or Secondary Obligations, as the case may be, have not been paid in full to
receive an amount equal to such excess amount multiplied by a fraction the numerator of which is the unpaid Primary Obligations or Secondary Obligations, as the case may be, of such Secured Creditor and the denominator of which is the unpaid Primary
Obligations or Secondary Obligations, as the case may be, of all Secured Creditors entitled to such distribution. 

  
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 (d) Each of the Secured Creditors, by their acceptance of the benefits hereof and of the other
Security Documents, agrees and acknowledges that if the Lender Creditors receive a distribution on account of undrawn amounts with respect to Letters of Credit issued under the Credit Agreement (which shall only occur after all L/C Disbursements
have been reimbursed in full), such amounts shall be paid to the Administrative Agent under the Credit Agreement and held by it, for the equal and ratable benefit of the Lender Creditors, as cash security for the repayment of Secured Obligations
owing to the Lender Creditors as such. If any amounts are held as cash security pursuant to the immediately preceding sentence, then upon the termination of all outstanding Letters of Credit under the Credit Agreement, and after the application of
all such cash security to the repayment of all Secured Obligations owing to the Lender Creditors after giving effect to the termination of all such Letters of Credit, if there remains any excess cash, such excess cash shall be returned by the
Administrative Agent to the Collateral Agent for distribution in accordance with Section 7.04(a) hereof. 
 (e) If at any time any
portion of any monies collected or received by the Collateral Agent would, but for the provisions of this Section 7.04(e), be payable pursuant to Section 7.04(a) in respect of a Contingent Secured Obligation, the Collateral Agent shall not
apply any monies to pay such Contingent Secured Obligation but instead shall request the holder thereof, at least 10 days before each proposed distribution hereunder, to notify the Collateral Agent as to the maximum amount of such Contingent Secured
Obligation if then ascertainable (e.g., in the case of a Letter of Credit, the maximum amount available for subsequent drawings thereunder). If the holder of such Contingent Secured Obligation does not notify the Collateral Agent of the
maximum ascertainable amount thereof at least two Business Days before such distribution, such holder will not be entitled to share in such distribution. If such holder does so notify the Collateral Agent as to the maximum ascertainable amount
thereof, the Collateral Agent will allocate to such holder a portion of the monies to be distributed in such distribution, calculated as if such Contingent Secured Obligation were outstanding in such maximum ascertainable amount. However, the
Collateral Agent will not apply such portion of such monies to pay such Contingent Secured Obligation, but instead will hold such monies or invest such monies in Cash Equivalents. All such monies and Cash Equivalents and all proceeds thereof will
constitute Collateral hereunder, but will be subject to distribution in accordance with this Section 7.04(e) rather than Section 7.04(a). The Collateral Agent will hold all such monies and Cash Equivalents and the net proceeds thereof in
trust until all or part of such Contingent Secured Obligation becomes a Non-Contingent Secured Obligation, whereupon the Collateral Agent at the request of the relevant Secured Party will apply the amount so
held in trust to pay such Non-Contingent Secured Obligation; provided that, if the other Secured Obligations theretofore paid pursuant to the same clause of Section 7.04(a) (i.e., clause second, third or fourth) were
not paid in full, the Collateral Agent will apply the amount so held in trust to pay the same percentage of such Non-Contingent Secured Obligation as the percentage of such other Secured Obligations
theretofore paid pursuant to the same clause of Section 7.04(a). If (i) the holder of such Contingent Secured Obligation shall advise the Collateral Agent that no portion thereof remains in the category of a Contingent Secured Obligation
and (ii) the Collateral Agent still holds any amount held in trust pursuant to this Section 7.04(e) in respect of such Contingent Secured Obligation (after paying all amounts payable pursuant to the preceding sentence with respect to any
portions thereof that became Non-Contingent Secured Obligations), such remaining amount will be applied by the Collateral Agent in the order of priorities set forth in Section 7.04(a). 

  
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 (f) All payments required to be made hereunder shall be made (x) if to the Lender Creditors,
to the Administrative Agent for the account of the Lender Creditors and (y) if to the Other Creditors, to the trustee, paying agent or other similar representative (each, a “Representative”) for the Other Creditors or, in the
absence of such a Representative, directly to the Other Creditors. 
 (g) For all purposes of the Secured Debt Agreements, including, without
limitation, for purposes of applying payments received in accordance with this Section 7.04, determining the amounts of the Secured Obligations, the Primary Obligations and the Secondary Obligations and whether a Secured Obligation is a
Contingent Secured Obligation or not, or whether any action has been taken under any Secured Debt Agreement, the Collateral Agent shall be entitled to rely upon (i) the Administrative Agent (who shall be entitled to rely on its own records) for
information as to the Secured Creditors, their Secured Obligations (including the outstanding amount of their Primary Obligations and Secondary Obligations) and actions taken by them, (ii) the Representative or, in the absence of such a
Representative, upon the Other Creditors for information as to the Other Creditors, their Secured Obligations (including the outstanding amount of their Secondary Obligations) and actions taken by them, to the extent that the Collateral Agent has
not obtained such information from the Administrative Agent and (iii) the Borrower, to the extent that the Collateral Agent has not obtained information from the foregoing sources. The Administrative Agent, each Representative, the Other
Creditors, and the Borrower agree (or shall agree) to provide upon request of the Collateral Agent, such information. Unless it has received written notice from a Lender Creditor or an Other Creditor to the contrary, the Administrative Agent and
each Representative, in furnishing information pursuant to the preceding sentence, and the Collateral Agent, in acting hereunder, shall be entitled to assume that no Secondary Obligations are outstanding. Unless it has written notice from an Other
Creditor to the contrary, the Collateral Agent, in acting hereunder, shall be entitled to assume that no Secured Hedging Agreements are in existence. 

(h) It is understood that the Assignors shall remain jointly and severally liable to the extent of any deficiency between the amount of the
proceeds of the Collateral and the aggregate amount of the Secured Obligations. 
 Section 7.05 Remedies Cumulative. Each and
every right, power and remedy hereby specifically given to the Collateral Agent shall be in addition to every other right, power and remedy specifically given to the Collateral Agent under this Agreement, the other Secured Debt Agreements or now or
hereafter existing at law, in equity or by statute and each and every right, power and remedy whether specifically herein given or otherwise existing may be exercised from time to time or simultaneously and as often and in such order as may be
deemed expedient by the Collateral Agent. All such rights, powers and remedies shall be cumulative and the exercise or the beginning of the exercise of one shall not be deemed a waiver of the right to exercise any other or others. No delay or
omission of the Collateral Agent in the exercise of any such right, power or remedy and no renewal or extension of any of the Secured Obligations shall impair any such right, power or remedy or shall be construed to be a waiver of any Default or
Event of Default or an acquiescence thereof. No notice to or demand on any Assignor in any case shall entitle it to any other or further notice or demand in similar or other circumstances or constitute a waiver of any of the rights of the Collateral
Agent to any other or further action in any circumstances without notice or demand. In the event that the Collateral Agent shall bring any suit to enforce any of its rights hereunder and shall be entitled to judgment, then in such suit the
Collateral Agent may recover reasonable expenses, including reasonable attorneys’ fees, and the amounts thereof shall be included in such judgment. 

Section 7.06 Discontinuance of Proceedings. In case the Collateral Agent shall have instituted any proceeding to enforce any
right, power or remedy under this Agreement by foreclosure, sale, entry or otherwise, and such proceeding shall have been discontinued or abandoned for any reason or shall have been determined adversely to the Collateral Agent, then and in every
such case the relevant Assignor, the Collateral Agent and each holder of any of the Secured Obligations shall be restored to their former positions and rights hereunder with respect to the Collateral subject to the security interest created under
this Agreement, and all rights, remedies and powers of the Collateral Agent shall continue as if no such proceeding had been instituted. 

  
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 ARTICLE 8 

INDEMNITY 

Section 8.01 Indemnity. (a) Each Assignor jointly and severally agrees to indemnify, reimburse and hold the Collateral Agent,
each other Secured Creditor and their respective successors, assigns, employees, affiliates and agents (hereinafter in this Section 8.01 referred to individually as “Indemnitee,” and collectively as
“Indemnitees”) harmless from any and all liabilities, obligations, damages, injuries, penalties, claims, demands, actions, suits, judgments and any and all documented costs, expenses or disbursements (but limited, with respect to
legal expenses, to the reasonable and documented fees, disbursements and other charges of one single firm of primary counsel, one firm of special counsel and one additional firm of local counsel for each applicable jurisdiction for all similarly
situated Indemnitees) (for the purposes of this Section 8.01 the foregoing are collectively called “expenses”) of whatsoever kind and nature imposed on, asserted against or incurred by any of the Indemnitees in any way relating
to or arising out of this Agreement, any other Credit Document or any other document executed in connection herewith or therewith or in any other way connected with the administration of the transactions contemplated hereby or thereby or the
enforcement of any of the terms of any thereof, or the preservation of any rights under any thereof, or in any way relating to or arising out of the manufacture, ownership, ordering, purchase, delivery, control, acceptance, lease, financing,
possession, operation, condition, sale, return or other disposition, or use of the Collateral (including, without limitation, latent or other defects, whether or not discoverable); provided that no Indemnitee shall be indemnified pursuant to
this Section 8.01(a) for losses, damages or liabilities to the extent caused by the gross negligence, bad faith or willful misconduct of such Indemnitee (as determined by a court of competent jurisdiction in a final and non-appealable decision). 
 (b) Without limiting the application of Section 8.01(a) hereof, each
Assignor agrees, jointly and severally, to pay or reimburse the Collateral Agent for any and all reasonable fees, costs and expenses of whatever kind or nature incurred in connection with the creation, preservation or protection of the Collateral
Agent’s Liens on, and security interest in, the Collateral, including, without limitation, all fees and taxes in connection with the recording or filing of instruments and documents in public offices, payment or discharge of any taxes or Liens
upon or in respect of the Collateral, premiums for insurance with respect to the Collateral and all other fees, costs and expenses in connection with protecting, maintaining or preserving the Collateral and the Collateral Agent’s interest
therein, whether through judicial proceedings or otherwise, or in defending or prosecuting any actions, suits or proceedings arising out of or relating to the Collateral (but limited, with respect to legal expenses, to the reasonable and documented
fees, disbursements and other charges of one single firm of primary counsel, one firm of special counsel and one additional firm of local counsel for each applicable jurisdiction). 

Section 8.02 Indemnity Obligations Secured by Collateral; Survival. Any amounts paid by any Indemnitee as to which such Indemnitee
has the right to reimbursement shall constitute Secured Obligations secured by the Collateral. The indemnity obligations of each Assignor contained in this Article 8 shall continue in full force and effect notwithstanding the occurrence of the
Termination Date. 

  
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 ARTICLE 9 

DEFINITIONS 
 The
following terms shall have the meanings herein specified. Such definitions shall be equally applicable to the singular and plural forms of the terms defined. Section 1.02 of the Credit Agreement shall apply to this Agreement, mutatis
mutandis. 
 “Account” shall mean any “account” as such term is defined in the Uniform Commercial Code as in
effect on the date hereof in the State of New York, and in any event shall include but shall not be limited to, all rights to payment of any monetary obligation, whether or not earned by performance, (i) for property that has been or is to be
sold, leased, licensed, assigned or otherwise disposed of, (ii) for services rendered or to be rendered, (iii) for a policy of insurance issued or to be issued, (iv) for a secondary obligation incurred or to be incurred, (v) for
energy provided or to be provided, (vi) for the use or hire of a vessel under a charter or other contract, (vii) arising out of the use of a credit or charge card or information contained on or for use with the card, or (viii) as
winnings in a lottery or other game of chance operated or sponsored by a state, governmental unit of a state, or person licensed or authorized to operate the game by a state or governmental unit of a state. Without limiting the foregoing, the term
“account” shall include all Health-Care-Insurance Receivables. 
 “Administrative Agent” shall have the meaning
provided in the recitals of this Agreement. 
 “Agreement” shall mean this Security Agreement, as the same may be amended,
modified, restated and/or supplemented from time to time in accordance with its terms. 
 “Assignor” shall have the meaning
provided in the first paragraph of this Agreement. 
 “Borrower” shall have the meaning provided in the recitals of this
Agreement. 
 “Cash Collateral Account” shall mean a non-interest bearing cash
collateral account maintained with the Collateral Agent or other financial institution acceptable to the Collateral Agent, and in the sole dominion and control of the Collateral Agent for the benefit of the Secured Creditors. 

“Chattel Paper” shall mean “chattel paper” as such term is defined in the Uniform Commercial Code as in effect on
the date hereof in the State of New York. Without limiting the foregoing, the term “Chattel Paper” shall in any event include all Tangible Chattel Paper and all Electronic Chattel Paper. 

“Class” shall have the meaning provided in Section 11.02 of this Agreement. 

“Collateral” shall have the meaning provided in Section 1.01(a) of this Agreement, provided that in no event
shall it include any Excluded Collateral. 
 “Collateral Agent” shall have the meaning provided in the first paragraph of
this Agreement. 
 “Commercial Tort Claims” shall mean “commercial tort claims” as such term is defined in the
Uniform Commercial Code as in effect on the date hereof in the State of New York, except that it shall only include such claims that have been asserted in judicial proceedings. 

“Commodity Exchange Act” shall mean the Commodity Exchange Act (7 U.S.C. § 1 et seq.), as amended from time to time, and
any successor statute. 

  
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 “Contingent Secured Obligation” shall mean, at any time, any Secured Obligation
(or portion thereof) that is contingent in nature at such time, including any such Secured Obligation that is: 
 (i) an
obligation to reimburse a bank for drawings not yet made under a letter of credit issued by it; 
 (ii) an obligation under a
Secured Hedging Agreement to make payments that cannot be quantified at such time; 
 (iii) any other obligation (including
any guarantee) that is contingent in nature at such time; or 
 (iv) an obligation to provide collateral to secure any of the
foregoing types of obligations. 
 “Contract Rights” shall mean all rights of any Assignor under each Contract, including,
without limitation, (i) any and all rights to receive and demand payments under any or all Contracts, (ii) any and all rights to receive and compel performance under any or all Contracts and (iii) any and all other rights, interests
and claims now existing or in the future arising in connection with any or all Contracts. 
 “Contracts” shall mean all
contracts between any Assignor and one or more additional parties (including, without limitation, any Interest Rate Protection Agreements, Other Hedging Agreements, licensing agreements and any partnership agreements, joint venture agreements and
limited liability company agreements). 
 “Control Agreement” shall mean, with respect to any deposit account, an
agreement, in form and substance reasonably satisfactory to the Collateral Agent, among the Collateral Agent, the financial institution or other Person at which such account is maintained or with which such entitlement or contract is carried and the
Assignor maintaining such account or owning such entitlement or contract, effective to grant “control” (within the meaning of Articles 8 and 9 under the UCC) over such account to the Collateral Agent. 

“Copyright Security Agreement” shall mean a First Lien Copyright Security Agreement, substantially in the form of Exhibit C
(with any changes that the Collateral Agent shall have approved), executed and delivered by an Assignor in favor of the Collateral Agent for the benefit of the Secured Creditors. 

“Copyrights” shall mean any United States or foreign copyright now or hereafter owned by any Assignor (whether or not the
underlying works of authorship have been published), including any registrations of any copyrights in the United States Copyright Office or any foreign equivalent office, as well as any application for a copyright registration now or hereafter made
with the United States Copyright Office or any foreign equivalent office by any Assignor and any renewal of any of the foregoing. 

“Credit Agreement” shall have the meaning provided in the recitals of this Agreement. 

“Deposit Account” shall mean any “deposit account” as such term is defined in the Uniform Commercial Code as in
effect on the date hereof in the State of New York. 
 “Ditech” shall mean Ditech Financial LLC, a Delaware limited
liability company. 

  
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 “Document” shall mean any “document” as such term is defined in the
Uniform Commercial Code as in effect on the date hereof in the State of New York. 
 “Domain Names” shall mean all Internet
domain names and associated URL addresses in or to which any Assignor now or hereafter has any right, title or interest. 

“Electronic Chattel Paper” shall mean “electronic chattel paper” as such term is defined in the Uniform Commercial
Code as in effect on the date hereof in the State of New York. 
 “Equipment” shall mean any “equipment” as such
term is defined in the Uniform Commercial Code as in effect on the date hereof in the State of New York, and in any event, shall include, but shall not be limited to, all machinery, equipment, furnishings, fixtures and vehicles now or hereafter
owned by any Assignor and any and all additions, substitutions and replacements of any of the foregoing and all accessions thereto, wherever located, together with all attachments, components, parts, equipment and accessories installed thereon or
affixed thereto. 
 “Excluded Accounts” shall mean the following Deposit Accounts: 

(i) any Deposit Account solely holding amounts with respect to insurance payments due to customers, or insurance premiums
otherwise owed to third party insurance providers, of Residential Mortgage Loans serviced by the Borrower or its Subsidiaries which do not constitute property of an Assignor, 

(ii) any Deposit Account used solely to fund escrow arrangements in favor of a Person other than any Borrower or any of its
Subsidiaries (e.g., environmental indemnity accounts), 
 (iii) any Deposit Account used solely to satisfy licensing
restrictions or minimum equity requirements to conduct business as (and only to the extent) required under applicable law, 

(iv) [intentionally omitted], 

(v) [intentionally omitted], 

(vi) any Deposit Accounts established (or otherwise maintained) by the Assignors that have an average monthly balance less than
$1,000,000 in the aggregate for all such accounts, 
 (vii) any Deposit Account solely holding amounts securing Liens
permitted by Section 6.01(xii), (xviii), (xix), (xx), (xxi), (xxiv), (xxv), (xxviii), (xxix), (xxx) and/or (xxxi) of the Credit Agreement, 

(viii) the lockbox account designated as account #008-7652 maintained at The Bank of
New York Mellon into which only customer payments in respect of loans (including Residential Mortgage Loans) serviced by the Borrower and its Subsidiaries are deposited and any other Deposit Account solely established to collect or hold customer
payments in respect of loans (including Residential Mortgage Loans) or other Securitization Assets serviced by the Borrower and its Subsidiaries, including each Trust Collection Account, 

(ix) any Deposit Account solely holding cash or Cash Equivalents owed to (or held pursuant to escrow arrangements in favor of)
a third party by the Borrower or any of its Subsidiaries in connection with the purchase of any Residential Mortgage Loan, home equity loan 

  
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contracts, home improvement contracts, manufactured housing loan contracts, installment sale or loan contracts or similar pool of mortgage assets, provided that such purchase shall not be
prohibited by the Credit Agreement or any other Secured Debt Agreement then in effect, 
 (x) any Deposit Account solely
established to maintain cash, assets and other property of a Permitted Fund, 
 (xi) payroll accounts solely holding amounts
in respect of payroll, 
 (xii) any Deposit Account that is a zero balance account, and 

(xiii) the account designated as account #104790489371 and maintained at U.S. Bank National Association or any of its
affiliates (and any successor account thereto); provided amounts held in such account to which any Assignor is beneficially entitled shall be swept on at least a weekly basis to another Deposit Account of the Assignors that is subject to a Control
Agreement. 
 “Excluded Collateral” shall mean: 

(i) the Excluded Accounts (it being understood and agreed that, for the avoidance of doubt, all cash, Cash Equivalents, monies,
securities or other investments or property held in, or deposited to, an Excluded Account which otherwise constitutes Collateral (or proceeds thereof) pursuant to this Agreement shall not constitute “Excluded Collateral” and shall
expressly be part of the Collateral), 
 (ii) Securitization Assets accounts, and any assets or property subject to a
Permitted Lien securing permitted Excess Spread Sales, Non-Recourse Indebtedness, Permitted Funding Indebtedness (and any Interest Rate Protection Agreement related to such Permitted Funding Indebtedness),
Permitted Securitization Indebtedness or Indebtedness under Credit Enhancement Agreements (and any Interest Rate Protection Agreement related to such Credit Enhancement Agreements), 

(iii) any REO Assets; 

(iv) any equity interest issued by a Permitted Fund that cannot be pledged as a result of restrictions in its or its
parent’s organizational documents or documents governing or related to its or its subsidiaries’ Indebtedness; 

(v) goods covered by a certificate of title (including vehicles) to the extent that the filing of a UCC-1 (or similar) financing statement is insufficient to perfect the Collateral Agent’ s security interest in such goods, 

(vi) any Contract that validly prohibits, restricts or requires the consent not obtained of a third party other than the
Borrower or any of its Subsidiaries for the creation by such Assignor of a security interest in such Contract (or in any rights or property obtained by such Assignor under such Contracts) except to the extent that any such prohibition, restriction
or requirement would be rendered ineffective pursuant to Sections 9-406, 9-407, 9-408 and
9-409 of the UCC (or any successor provision or provisions) or any other applicable law (including the Bankruptcy Code), 

  
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 (vii) any property subject to a Lien permitted by Section 6.01(vi) or
(vii) of the Credit Agreement, to the extent that the contractual arrangements governing such Lien expressly prohibit the granting of a security interest hereunder in such property, 

(viii) Leaseholds in respect of Real Property, 

(ix) that portion of any property which does not constitute property of an Assignor such as property as to which an Assignor
acts as a fiduciary or trustee for an independent third party that is neither an Assignor nor a Subsidiary thereof (including premium funds collected from the insurers to be remitted to insurance carriers and funds collected from obligors or
Residential Mortgage Loans to be transferred to the individual Trust Collection Accounts), 
 (x) any property as to which
the Collateral Agent has determined in its reasonable discretion and has notified the Borrower thereof in writing that the collateral value thereof is insufficient to justify the difficulty, time and/or expense of obtaining a perfected security
interest therein, 
 (xi) any application for registration of a Mark filed with the United States Patent and Trademark
Office, on an “intent-to-use” basis until such time (if any) as a “Statement of Use” or “Amendment to Allege Use” is filed and accepted by
the United States Patent and Trademark Office at which time such Mark shall automatically become part of the Collateral and subject to the security interest pledged hereunder, 

(xii) any property to the extent that such grant of a security interest is prohibited by applicable law or by a Governmental
Authority, or requires a consent, approval, license or authorization not obtained of any Governmental Authority, except to the extent that such prohibition or requirement is rendered ineffective under any applicable law, 

(xiii) the Equity Interests of Immaterial Subsidiaries, captive insurance subsidiaries, not-for-profit subsidiaries, Securitization Entities and Unrestricted Subsidiaries, 

(xiv) the Voting Equity Interests of (a) any Exempted Foreign Entity and (b) any Domestic Subsidiary substantially
all of the assets of which consist of Equity Interests of one or more Foreign Subsidiaries, in each case constituting more than 66% of the total combined voting power of all Voting Equity Interests of such Exempted Foreign Entity or Domestic
Subsidiary, as applicable, 
 (xv) [intentionally omitted], 

(xvi) the Equity Interests in any partnership, joint venture or any Non-Wholly Owned
Subsidiary the pledge of which without the consent of one or more third parties is prohibited except to the extent that any such prohibition would be rendered ineffective pursuant to Sections 9-406, 9-407, 9-408 and 9-409 of the UCC (or any successor provision or provisions), 

(xvii) any property to the extent the creation of a security interest hereunder would result in material and adverse tax
consequences, as reasonably determined by the Collateral Agent and the Borrower, 
 (xviii) any margin collateral granted as
security for any Interest Rate Protection Agreement or any Other Hedging Agreement permitted under the Credit Documents, and 

  
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 (xix) any cash, restricted accounts, cash equivalents or other property subject
to a Lien permitted by Section 6.01(xxix) of the Credit Agreement. 
 “Excluded Swap Obligation” shall mean, with
respect to any Assignor, any Swap Obligation if, and to the extent that, and only for so long as, all or a portion of the guarantee of such Assignor of, or the grant by such Assignor of a security interest to secure, as applicable, such Swap
Obligation (or any guarantee thereof) is or becomes illegal under the Commodity Exchange Act or any rule, regulation or order of the Commodity Futures Trading Commission (or the application or official interpretation of any thereof) by virtue of
such Assignor’s failure for any reason to constitute an “eligible contract participant” as defined in the Commodity Exchange Act and the regulations thereunder at the time the guarantee of such Assignor or the grant of such security
interest, as applicable, becomes effective or would become effective with respect to such Swap Obligation. If a Swap Obligation arises under a master agreement governing more than one Swap, such exclusion shall apply only to the portion of such Swap
Obligation that is attributable to Swaps for which such guarantee or security interest is or becomes illegal. 
 “Exempted Foreign
Entity” shall mean (i) any corporation incorporated under the laws of a jurisdiction other than the United States or any state thereof or the District of Columbia and (ii) any company organized under the laws of a jurisdiction
other than the United States or any State thereof or the District of Columbia that, in any such case, is treated as a corporation or an association taxable as a corporation for U.S. federal income tax purposes. 

“FNMA Acknowledgment Agreement” shall mean, collectively, (i) that certain First Amended, and Restated Acknowledgement
Agreement, dated as of the Closing Date, among Fannie Mae, the Collateral Agent, Wilmington Savings Fund Society, FSB and Ditech (including any amendment, restatement, amendment and restatement, replacement, supplement or other modification thereto)
and (ii) that certain Amended and Restated Acknowledgement Agreement, as of the Closing Date, among Fannie Mae, the Collateral Agent, Wilmington Savings Fund Society, FSB and RMS (including any amendment, restatement, amendment and restatement,
replacement, supplement or other modification thereto). 
 “Freddie Acknowledgement Agreement” shall mean an
acknowledgement agreement or similar agreement among Federal Home Loan Mortgage Corporation, the Collateral Agent, any other agents party thereto and the Assignors party thereto (including any amendment, restatement, amendment and restatement,
replacement, supplement or other modification thereto). 
 “General Intangible” shall mean any “general
intangible” as such term is defined in the Uniform Commercial Code as in effect on the date hereof in the State of New York. 

“GNMA Acknowledgement Agreement” shall mean that certain Acknowledgement Agreement, dated as of May 21, 2014 (as amended
prior to the date hereof), by and among GNMA, RMS, Ditech and the Collateral Agent (including any amendment, restatement, amendment and restatement, replacement, supplement or other modification thereto). 

“Goods” shall mean “goods” as such term is defined in the Uniform Commercial Code as in effect on the date hereof
in the State of New York. 
 “Health-Care-Insurance Receivable” shall mean any “health-care- insurance
receivable” as such term is defined in the Uniform Commercial Code as in effect on the date hereof in the State of New York. 

“Indemnitee” shall have the meaning provided in Section 8.01(a) of this Agreement. 

  
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 “Instrument” shall mean any “instrument” as such term is defined in
the Uniform Commercial Code as in effect on the date hereof in the State of New York. 
 “Inventory” shall mean
merchandise, inventory and goods, and all additions, substitutions and replacements thereof and all accessions thereto, wherever located, together with all goods, supplies, incidentals, packaging materials, labels, materials and any other items used
or usable in manufacturing, processing, packaging or shipping same, in all stages of production from raw materials through work in process to finished goods, and all products and proceeds of whatever sort and wherever located and any portion thereof
which may be returned, rejected, reclaimed or repossessed by the Collateral Agent from any Assignor’s customers, and shall specifically include all “inventory” as such term is defined in the Uniform Commercial Code as in effect on the
date hereof in the State of New York. 
 “Investment Property” shall mean “investment property” as such term is
defined in the Uniform Commercial Code as in effect on the date hereof in the State of New York. 
 “Investor” shall have
the meaning provided in Section 1.01(c)(iv) of this Agreement. 
 “Lender Creditors” shall have the meaning provided
in the recitals of this Agreement. 
 “Lenders” shall have the meaning provided in the recitals of this Agreement. 

“Letter-of-Credit Right” shall mean any “letter-of-credit right” as such term is defined in the Uniform Commercial Code as in effect on the date hereof in the State of New York. 

“Location” of any Assignor, shall mean such Assignor’s “location” as determined pursuant to Section 9-307 of the UCC. 
 “Marks” shall mean any trademarks, service marks and
trade names in or to which any Assignor now or hereafter has any right, title, or interest, including any registration or application for registration of any trademarks and service marks now owned or hereafter acquired by any Assignor, which are
registered or filed in the United States Patent and Trademark Office or the equivalent thereof in any state of the United States, or any equivalent foreign office or agency, as well as any unregistered trademarks and service marks used by an
Assignor and any trade dress including logos, designs, fictitious business names and other business identifiers used by any Assignor. 

“Non-Contingent Secured Obligation” shall mean at any time any Secured Obligation (or
portion thereof) that is not a Contingent Secured Obligation at such time. 
 “Non-Voting
Equity Interests” shall mean all Equity Interests of any Person which are not Voting Equity Interests. 
 “Other
Creditors” shall have the meaning provided in the recitals of this Agreement. 
 “Patents” shall mean any patent
in or to which any Assignor now or hereafter has any right, title or interest therein, and any reissues, revisions, extensions, divisions, continuations (including, but not limited to, continuations- in-parts)
and improvements thereof, as well as any application for a patent now or hereafter filed by any Assignor. 
 “Patent Security
Agreement” shall mean a First Lien Patent Security Agreement, substantially in the form of Exhibit B (with any changes that the Collateral Agent shall have approved), executed and delivered by an Assignor in favor of the Collateral Agent
for the benefit of the Secured Creditors. 

  
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 “Permits” shall mean, to the extent permitted to be assigned by the terms
thereof or by applicable law, all licenses, permits, rights, orders, variances, franchises or authorizations of or from any Governmental Authority or agency. 

“Pooled Mortgages” shall have the meaning provided in Section 1.01(c)(i). 

“Primary Obligations” shall have the meaning provided in Section 7.04(b) of this Agreement. 

“Pro Rata Share” shall have the meaning provided in Section 7.04(b) of this Agreement. 

“Proceeds” shall mean all “proceeds” as such term is defined in the Uniform Commercial Code as in effect in the
State of New York on the date hereof and, in any event, shall also include, but not be limited to, (i) any and all proceeds of any insurance, indemnity, warranty or guaranty payable to the Collateral Agent or any Assignor from time to time with
respect to any of the Collateral, (ii) any and all payments (in any form whatsoever) made or due and payable to any Assignor from time to time in connection with any requisition, confiscation, condemnation, seizure or forfeiture of all or any
part of the Collateral by any Governmental Authority (or any person acting under color of Governmental Authority) and (iii) any and all other amounts from time to time paid or payable under or in connection with any of the Collateral. 

“Registered Organization” shall have the meaning provided in the Uniform Commercial Code as in effect in the State of New
York. 
 “Representative” shall have the meaning provided in Section 7.04(f) of this Agreement. 

“RMS” shall mean Reverse Mortgage Solutions, Inc., a Delaware corporation. 

“Secondary Obligations” shall have the meaning provided in Section 7.04(b) of this Agreement. 

“Secured Credit Document Obligations” shall have the meaning provided in the definition of “Secured Obligations” in
this Article 9. 
 “Secured Creditors” shall have the meaning provided in the recitals of this Agreement. 

“Secured Debt Agreements” shall mean and include this Agreement, the other Credit Documents and each Secured Hedging
Agreement. 
 “Secured Hedging Agreement” shall have the meaning provided in the recitals to this Agreement. 

“Secured Obligations” shall mean and include, as to any Assignor, all of the following: 

(i) the full and prompt payment when due (whether at stated maturity, by acceleration or otherwise) of all obligations,
liabilities and indebtedness (including, without limitation, principal, premium, interest (including, without limitation, all interest that accrues after the commencement of any case, proceeding or other action relating to the bankruptcy,
insolvency, receivership, reorganization or similar proceeding of any Assignor (or which would accrue but for the operation of applicable bankruptcy or insolvency laws) at the rate provided for in the respective documentation, whether or not a claim
for post-petition interest is allowed or allowable in any such proceeding), reimbursement obligations under Letters of Credit, fees, costs and indemnities) of such Assignor to the Lender Creditors, whether now existing or hereafter

  
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incurred under, arising out of, or in connection with, each Credit Document to which such Assignor is a party (including, without limitation, in the event such Assignor is a Subsidiary Guarantor,
all such obligations, liabilities and indebtedness of such Assignor under its Subsidiaries Guaranty) and the due performance and compliance by such Assignor with all of the terms, conditions and agreements contained in each such Credit Document (all
such obligations, liabilities and indebtedness under this clause (i), except to the extent consisting of obligations or indebtedness with respect to Secured Hedging Agreements, being herein collectively called the “Secured Credit Document
Obligations”); 
 (ii) the full and prompt payment when due (whether at stated maturity, by acceleration or
otherwise) of all obligations, liabilities and indebtedness (including, without limitation, all interest that accrues after the commencement of any case, proceeding or other action relating to the bankruptcy, insolvency, receivership, reorganization
or similar proceeding of any Assignor (or which would accrue but for the operation of applicable bankruptcy or insolvency laws) at the rate provided for in the respective documentation, whether or not a claim for post-petition interest is allowed or
allowable in any such proceeding) owing by such Assignor to the Other Creditors (other than Excluded Swap Obligations), now existing or hereafter incurred under, arising out of or in connection with any Secured Hedging Agreement, whether such
Secured Hedging Agreement is now in existence or hereinafter arising (including, without limitation, in the case of a Assignor that is a Subsidiary Guarantor, all obligations, liabilities and indebtedness of such Assignor under its Subsidiaries
Guaranty in respect of the Secured Hedging Agreements), and the due performance and compliance by such Assignor with all of the terms, conditions and agreements contained in each such Secured Hedging Agreement (all such obligations, liabilities and
indebtedness under this clause (ii) being herein collectively called the “Secured Other Obligations”); 

(iii) any and all sums advanced by the Collateral Agent in order to (x) preserve the Collateral or preserve its security
interest in the Collateral or (y) cure any default or violation of any Contract or governmental approval; 
 (iv) in the
event of any proceeding for the collection or enforcement of any indebtedness, obligations or liabilities of such Assignor referred to in clauses (i) and (ii) above, after an Event of Default shall have occurred and be continuing, the
reasonable expenses of retaking, holding, preparing for sale or lease, selling or otherwise disposing of or realizing on the Collateral, or of any exercise by the Collateral Agent of its rights hereunder, together with reasonable attorneys’
fees and court costs; and 
 (v) all amounts paid by any Indemnitee as to which such Indemnitee has the right to
reimbursement under Section 8.01 of this Agreement; 
 it being acknowledged and agreed that the “Secured Obligations” shall include
extensions of credit of the types described above, whether extended on the date of this Agreement or extended from time to time after the date of this Agreement. 

“Secured Other Obligations” shall have the meaning provided in the definition of “Secured Obligations” in
this Article 9. 
 “Security Agreement Supplement” shall mean a Security Agreement Supplement, substantially in the form of
Exhibit D, signed and delivered to the Collateral Agent for the purpose of adding an Assignor as a party hereto pursuant to Section 11.12 and/or adding additional property to the Collateral. 

  
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 “Servicing Rights Acknowledgment Agreements” shall mean, collectively, the GNMA
Acknowledgment Agreement, the Freddie Acknowledgement Agreement and the FNMA Acknowledgment Agreement and any other acknowledgement agreement entered into by the Collateral Agent, the Assignors party thereto and any Government Sponsored Entity. 

“Software” shall mean “software” as such term is defined in the Uniform Commercial Code as in effect on the date
hereof in the State of New York. 
 “Supporting Obligations” shall mean any “supporting obligation” as such term
is defined in the Uniform Commercial Code as in effect on the date hereof in the State of New York, now or hereafter owned by any Assignor, or in which any Assignor has any rights, and, in any event, shall include, but shall not be limited to all of
such Assignor’s rights in any Letter-of Credit Right or secondary obligation that supports the payment or performance of, and all security for, any Account, Chattel Paper, Document, General Intangible,
Instrument or Investment Property. 
 “Swap” shall mean, any agreement, contract or transaction that constitutes a
“swap” within the meaning of section 1a(47) of the Commodity Exchange Act, including any Interest Rate Protection Agreement or any Other Hedging Agreement.” 

“Swap Obligation” shall mean, with respect to any Assignor, any obligation to pay or perform under any Swap. 

“Tangible Chattel Paper” shall mean “tangible chattel paper” as such term is defined in the Uniform Commercial Code
as in effect on the date hereof in the State of New York. 
 “Termination Date” shall have the meaning provided in
Section 11.08(a) of this Agreement. 
 “Trademark Security Agreement” shall mean a First Lien Trademark Security
Agreement, substantially in the form of Exhibit A (with any changes that the Collateral Agent shall have approved), executed and delivered by an Assignor in favor of the Collateral Agent for the benefit of the Secured Creditors. 

“Trade Secrets” shall mean any secretly held now or hereafter existing engineering or other data, information, production
procedures and other know- how or trade secret relating to the design, manufacture, assembly, installation, use, operation, marketing, sale and/or servicing of any products or business of an Assignor worldwide whether written or not. 

“Trade Secret Rights” shall mean the rights of an Assignor in any Trade Secret it holds or uses in the course of its
business. 
 “Transmitting Utility” shall have the meaning given such term in
Section 9-102(a)(80) of the UCC. 
 “Trust Collection Accounts” shall mean
those individual collection accounts and intermediary holding accounts from which funds are transferred into individual collection accounts maintained pursuant to the requirements of the respective Servicing Agreements pursuant to which funds are
deposited for payment to the beneficiaries of the respective securitizations or trusts and which contain no other funds. 

  
 31 

 “UCC” shall mean the Uniform Commercial Code as in effect from time to time in
the State of New York; provided, however, that, at any time, if by reason of mandatory provisions of law, any or all of the perfection or priority of the Collateral Agent’s security interest in any item or portion of the Collateral (or
the exercise of any remedy with respect thereto) is governed by the Uniform Commercial Code as in effect in a jurisdiction other than the State of New York, the term “UCC” shall mean the Uniform Commercial Code as in effect, at such time,
in such other jurisdiction for purposes of the provisions relating to such perfection or priority (or the exercise of such remedy) and for purposes of definitions relating to such provisions. 

“UCC Filing Collateral” means Collateral for which a security interest can be perfected by filing a Uniform Commercial Code
financing statement. 
 “Voting Equity Interests” of any Person shall mean all classes of Equity Interests of such Person
entitled to vote. 
 ARTICLE 10 

CONCERNING THE COLLATERAL AGENT 

Section 10.01 Power of Attorney. Each Assignor hereby constitutes and appoints (which appointment is coupled with an interest) the
Collateral Agent its true and lawful attorney, irrevocably, with full power of substitution, for the sole use and benefit of the Secured Creditors, but at the Assignors’ expense, at any time and from time to time after the occurrence of and
during the continuance of an Event of Default (in the name of such Assignor or otherwise), to the extent permitted by law to exercise all or any of the following powers with respect to all or any of such Assignor’s Collateral: (a) to act,
require, demand, sue for, collect, receive, compound and give acquittance for any and all moneys and claims for moneys due or to become due to such Assignor under or arising out of the Collateral, (b) to endorse any checks or other instruments
or orders in connection therewith, (c) to file any claims or take any action or institute, settle, compromise, compound or defend any proceedings with respect thereto which the Collateral Agent may deem to be necessary or advisable to protect
the interests of the Secured Creditors, (d) to sell, lease, license or otherwise dispose of any Collateral or the proceeds or avails thereof, as fully and effectually as if the Collateral Agent were the absolute owner thereof, and (e) to
extend the time of payment for any or all thereof and to make any allowance or other adjustment with reference thereto. 

Section 10.02 General Provisions. (a) The provisions of Article 8 of the Credit Agreement shall inure to the benefit of the
Collateral Agent, and shall be binding upon all Assignors and all Secured Creditors, in connection with this Agreement and the other Secured Debt Agreements. Without limiting the generality of the foregoing, (i) the Collateral Agent shall not
be subject to any fiduciary or other implied duties, regardless of whether an Event of Default has occurred and is continuing, (ii) the Collateral Agent shall not have any duty to take any discretionary action or exercise any discretionary
powers, except discretionary rights and powers expressly contemplated by the Secured Debt Agreements that the Collateral Agent is required in writing to exercise by the Required Lenders (or such other number or percentage of the Lenders as shall be
necessary under the circumstances as provided in Section 9.08 of the Credit Agreement), and (iii) except as expressly set forth in the Credit Documents, the Collateral Agent shall not have any duty to disclose, and shall not be liable for
any failure to disclose, any information relating to any Assignor that is communicated to or obtained by the bank serving as Collateral Agent or any of its Affiliates in any capacity. The Collateral Agent shall not be responsible for the existence,
genuineness or value of any Collateral or for the validity, perfection, priority or enforceability of any security interest granted herein, whether impaired by operation of law or by reason of any action or omission to act on its part under the
Secured Debt Agreements. The Collateral Agent shall be deemed not to have knowledge of any Event of Default unless and until written notice thereof is given to the Collateral Agent by the Borrower or a Secured Creditor. 

  
 32 

 (b) Sub-Agents and Related Parties. The Collateral
Agent may perform any of its duties and exercise any of its rights and powers through one or more sub-agents appointed by it. The Collateral Agent and any such sub-agent
may perform any of its duties and exercise any of its rights and powers through its Related Parties. The exculpatory provisions of Section 7.04(g), Section 11.11(b) and this Section 10.02 shall apply to any such sub-agent and to the Related Parties of the Collateral Agent and any such sub-agent. 

(c) Information as to Secured Obligations and Actions by Secured Creditors. For all purposes of the Secured Debt Agreements, including
determining the amounts of the Secured Obligations and whether a Secured Obligation is a Contingent Secured Obligation or not, or whether any action has been taken under any Secured Debt Agreement, the Collateral Agent will be entitled to rely on
information from (i) its own records or the records of the Administrative Agent for information as to the Secured Creditors, their Secured Obligations and actions taken by them, (ii) any Secured Creditor (or any Representative of such
Secured Creditor) for information as to its Secured Obligations and actions taken by it, to the extent that the Collateral Agent has not obtained such information from its own records, and (iii) the Borrower, to the extent that the Collateral
Agent has not obtained information from the foregoing sources. 
 (d) Refusal to Act. The Collateral Agent may refuse to act on any
notice, consent, direction or instruction from any Secured Creditor or any agent, trustee or similar representative thereof that, in the Collateral Agent’s opinion, (i) is contrary to law or the provisions of any Secured Debt Agreement,
(ii) may expose the Collateral Agent to liability (unless the Collateral Agent shall have been indemnified, to its reasonable satisfaction, for such liability by the Secured Creditors that gave such notice, consent, direction or instruction) or
(iii) is unduly prejudicial to Secured Creditors not joining in such notice, consent, direction or instruction. 
 ARTICLE 11 

MISCELLANEOUS 

Section 11.01 Notices. Each notice, request or other communication given hereunder shall be given in accordance with
Section 9.01 of the Credit Agreement and shall be addressed, (a) if to the Borrower, the Collateral Agent or any other Lender Creditor, to such address as such Person shall have specified in the Credit Agreement, (b) if to any
Assignor other than the Borrower, in the care of the Borrower to such address as the Borrower shall have specified in the Credit Agreement and (c) if to any Other Creditor, to such address as such Other Creditor shall have specified in writing
to the Borrower and the Collateral Agent, or in each case to such other address or addressed to such other individual as shall have been furnished in writing by any Person described above to the party required to give notice hereunder. 

Section 11.02 Waiver; Amendment. Except as provided in Sections 11.08 and 11.12, none of the terms and conditions of this
Agreement or any other Security Document may be changed, waived, modified or varied in any manner whatsoever unless in writing duly signed by each Assignor directly affected thereby (it being understood that the addition or release of any Assignor
hereunder shall not constitute a change, waiver, discharge or termination affecting any Assignor other than the Assignor so added or released) and the Collateral Agent (with the written consent of the Required Lenders or such other number or
percentage of the Lenders as shall be necessary under the circumstances as provided in Section 9.08 of the Credit Agreement). 

Section 11.03 Obligations Absolute. The obligations of each Assignor hereunder shall remain in full force and effect without
regard to, and shall not be impaired by, (a) any bankruptcy, insolvency, reorganization, arrangement, readjustment, composition, liquidation or the like of such Assignor; (b) any 

  
 33 

 
exercise or non-exercise, or any waiver of, any right, remedy, power or privilege under or in respect of this Agreement or any other Secured Debt
Agreement; or (c) any amendment to or modification of any Secured Debt Agreement or any security for any of the Secured Obligations; whether or not such Assignor shall have notice or knowledge of any of the foregoing. 

Section 11.04 Successors and Assigns. This Agreement shall create a continuing security interest in the Collateral and shall
(a) remain in full force and effect, subject to release and/or termination as set forth in Section 11.08, (b) be binding upon each Assignor, its successors and assigns; provided, however, that no Assignor shall assign any of its
rights or obligations hereunder without the prior written consent of the Collateral Agent (with the written consent of the Required Lenders or such other number or percentage of the Lenders as shall be necessary under the circumstances as provided
in Section 9.08 of the Credit Agreement), and (c) inure, together with the rights and remedies of the Collateral Agent hereunder, to the benefit of the Collateral Agent, the other Secured Creditors and their respective successors,
transferees and assigns. All agreements, statements, representations and warranties made by each Assignor herein or in any certificate or other instrument delivered by such Assignor or on its behalf under this Agreement shall be considered to have
been relied upon by the Secured Creditors and shall survive the execution and delivery of this Agreement and the other Secured Debt Agreements regardless of any investigation made by the Secured Creditors or on their behalf. 

Section 11.05 Headings Descriptive. The headings of the several sections of this Agreement are inserted for convenience only and
shall not in any way affect the meaning or construction of any provision of this Agreement. 
 Section 11.06 GOVERNING LAW;
SUBMISSION TO JURISDICTION; VENUE; WAIVER OF JURY TRIAL. (A) THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE CONSTRUED IN ACCORDANCE WITH AND BE GOVERNED BY THE LAWS OF THE STATE OF NEW YORK. EACH ASSIGNOR
HEREBY IRREVOCABLY AND UNCONDITIONALLY SUBMITS, FOR ITSELF AND ITS PROPERTY, TO THE EXCLUSIVE JURISDICTION OF ANY NEW YORK STATE COURT OR FEDERAL COURT OF THE UNITED STATES OF AMERICA SITTING IN NEW YORK CITY, AND ANY APPELLATE COURT FROM ANY
THEREOF, IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE OTHER CREDIT 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 SUCH NEW YORK STATE COURT OR, TO THE EXTENT PERMITTED BY LAW, IN SUCH FEDERAL COURT; PROVIDED THAT SUIT FOR THE RECOGNITION OR ENFORCEMENT OF ANY JUDGMENT OBTAINED IN
ANY SUCH NEW YORK STATE OR FEDERAL COURT MAY BE BROUGHT IN ANY OTHER COURT OF COMPETENT JURISDICTION. 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 THE ADMINISTRATIVE AGENT, THE COLLATERAL AGENT OR ANY SECURED CREDITOR MAY OTHERWISE HAVE TO BRING ANY ACTION OR
PROCEEDING RELATING TO THIS AGREEMENT OR THE OTHER CREDIT DOCUMENTS AGAINST ANY ASSIGNOR OR ITS PROPERTIES IN THE COURTS OF ANY JURISDICTION. 

(b) EACH ASSIGNOR HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT IT MAY LEGALLY AND EFFECTIVELY DO SO, ANY OBJECTION
WHICH IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF 

  
 34 

 
ANY SUIT, ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE OTHER CREDIT DOCUMENTS IN ANY NEW YORK STATE OR FEDERAL COURT. EACH OF THE PARTIES HERETO HEREBY 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. 

(c) EACH PARTY TO THIS AGREEMENT IRREVOCABLY CONSENTS TO SERVICE OF PROCESS IN THE MANNER PROVIDED FOR NOTICES IN SECTION 11.01. NOTHING IN
THIS AGREEMENT WILL AFFECT THE RIGHT OF ANY PARTY TO THIS AGREEMENT TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY LAW. 
 (d) EACH PARTY
HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT OR ANY OF THE OTHER
CREDIT DOCUMENTS. EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING
WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE OTHER CREDIT DOCUMENTS, AS APPLICABLE, BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 11.06.

 Section 11.07 Assignor’s Duties. It is expressly agreed, anything herein contained to the contrary
notwithstanding, that each Assignor shall remain liable to perform all of the obligations, if any, assumed by it with respect to the Collateral and the Collateral Agent shall not have any obligations or liabilities with respect to any Collateral by
reason of or arising out of this Agreement, nor shall the Collateral Agent be required or obligated in any manner to perform or fulfill any of the obligations of any Assignor under or with respect to any Collateral. 

Section 11.08 Termination; Release. (a) After the Termination Date, this Agreement shall terminate (provided that all
indemnities set forth herein including, without limitation in Section 8.01 hereof, shall survive such termination) and the Collateral Agent, at the request and expense of the respective Assignor, will promptly execute and deliver to such
Assignor a proper instrument or instruments (including Uniform Commercial Code termination statements on form UCC-3) acknowledging the satisfaction and termination of this Agreement, and will duly release from
the security interest created hereby and assign, transfer and deliver to such Assignor (without recourse and without any representation or warranty) such of the Collateral as may be in the possession of the Collateral Agent and as has not
theretofore been sold or otherwise applied or released pursuant to this Agreement. As used in this Agreement, “Termination Date” shall mean the date upon which all Commitments under the Credit Agreement have been terminated, no Note
under the Credit Agreement is outstanding and all Loans thereunder have been repaid in full in cash, all Letters of Credit issued under the Credit Agreement have been terminated (or fully cash collateralized and/or backstopped by one or more letters
of credit) and all Secured Obligations (other than Secured Other Obligations and indemnities described in Section 8.01 hereof, Article 11 of the Pledge Agreement and described in Section 9.05 of the Credit Agreement, and any other
indemnities set forth in any other Security Documents, in each case which are not then due and payable) then due and payable have been paid in full in cash. 

(b) In the event that any part of the Collateral (i) is or becomes Excluded Collateral, (ii) is sold or otherwise disposed of (to a
Person other than a Credit Party) at any time prior to the Termination Date, in connection with a sale or disposition not prohibited by the Credit Agreement and the proceeds 

  
 35 

 
from such sale or disposition are applied in accordance with the terms of the Credit Agreement or such other applicable Secured Debt Agreement, as the case may be, to the extent required to be so
applied or (iii) is otherwise released at the direction of the Required Lenders (or such other number or percentage of the Lenders as shall be necessary under the circumstances as provided in Section 9.08 of the Credit Agreement), in each
case, such Collateral shall be automatically released from the security interest created hereby and, at the request and expense of such Assignor, the Collateral Agent will execute and deliver any documentation, including termination or partial
release statements and the like requested by such Assignor, in connection therewith and assign, transfer and deliver to such Assignor (without recourse and without any representation or warranty) such of the Collateral that has become Excluded
Collateral or as is then being (or has been) so sold or otherwise disposed of, or released, and as may be in the possession of the Collateral Agent and has not theretofore been assigned, transferred or delivered pursuant to this Agreement.
Furthermore, upon the release of any Subsidiary Guarantor from the Subsidiaries Guaranty in accordance with the provisions thereof, any such Subsidiary Guarantor that is an Assignor (and the Collateral at such time assigned by the respective
Assignor pursuant hereto) shall be released from this Agreement without any further action hereunder and the Collateral Agent is authorized and directed to execute and deliver such instruments of release as provided in this Section 11.08(b).
The Collateral Agent shall have no liability whatsoever to any other Secured Creditor as a result of the release of any Assignor by it in accordance with (or which the Collateral Agent believes in good faith to be in accordance with) this
Section 11.08(b). 
 (c) At any time that an Assignor desires that the Collateral Agent take any action to acknowledge or give effect to
any release of Collateral pursuant to the foregoing Section 11.08(a) or (b), such Assignor shall deliver to the Collateral Agent a certificate signed by a principal executive officer of such Assignor stating that the release of the respective
Collateral is permitted pursuant to such Section 11.08(a) or (b). At any time that the Borrower or the respective Assignor desires that a Subsidiary of the Borrower which has been released from the Subsidiaries Guaranty be released hereunder as
provided in the last sentence of Section 11.08(b), it shall deliver to the Collateral Agent a certificate signed by a principal executive officer of the Borrower and the respective Assignor stating that the release of the respective Assignor
(and its Collateral) is permitted pursuant to such Section 11.08(b). 
 (d) The Collateral Agent shall have no liability whatsoever to
any other Secured Creditor as the result of any release of Collateral by it in accordance with (or which the Collateral Agent in good faith believes to be in accordance with) this Section 11.08. 

Section 11.09 Counterparts. This Agreement may be executed in any number of counterparts (including by facsimile or other form of
electronic transmission) and by the different parties hereto on separate counterparts, each of which when so executed and delivered shall be an original, but all of which shall together constitute one and the same instrument. A set of counterparts
executed by all the parties hereto shall be lodged with the Borrower and the Collateral Agent. 
 Section 11.10 Severability.
Any provision of this Agreement which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof,
and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. 

Section 11.11 The Collateral Agent and the Other Secured Creditors. (a) The Collateral Agent will hold in accordance with
this Agreement all items of the Collateral at any time received under this Agreement. It is expressly understood and agreed that the obligations of the Collateral Agent as holder of the Collateral and interests therein and with respect to the
disposition thereof, and otherwise under this Agreement, are only those expressly set forth in this Agreement and in Article 8 of the Credit Agreement. The Collateral Agent shall act hereunder on the terms and conditions set forth herein and in
Article 8 of the Credit Agreement. 

  
 36 

 (b) Beyond the exercise of reasonable care in the custody and preservation thereof, the
Collateral Agent will have no duty as to any Collateral in its possession or control or in the possession or control of any sub-agent or bailee or any income therefrom or as to the preservation of rights
against prior parties or any other rights pertaining thereto. The Collateral Agent will be deemed to have exercised reasonable care in the custody and preservation of the Collateral in its possession or control if such Collateral is accorded
treatment substantially equal to that which it accords its own property, and will not be liable or responsible for any loss or damage to any Collateral, or for any diminution in the value thereof, by reason of any act or omission of any sub-agent or bailee selected by the Collateral Agent in good faith, except to the extent that such liability arises from the Collateral Agent’s gross negligence or willful misconduct. 

Section 11.12 Additional Assignors. It is understood and agreed that any Subsidiary Guarantor that desires to become an Assignor
hereunder, or is required to become a party to this Agreement after the date hereof pursuant to the requirements of the Credit Agreement or any other Credit Document, shall become an Assignor hereunder by (x) executing a counterpart hereof and
delivering same to the Collateral Agent or by executing a Security Agreement Supplement substantially in the form of Exhibit D and delivering same to the Collateral Agent, (y) delivering a Perfection Certificate substantially in the form of
Exhibit E hereto and supplements to Schedules 1 through 8, inclusive, hereto as are necessary to cause such Schedules to be complete and accurate with respect to such additional Assignor on such date and (z) taking all actions as specified in
this Agreement as would have been taken by such Assignor had it been an original party to this Agreement, in each case with all documents required above to be delivered to the Collateral Agent and with all documents and actions required above to be
taken to the reasonable satisfaction of the Collateral Agent. 
 Section 11.13 No Conflicts with Servicing Rights Acknowledgement
Agreements. To the extent any provision of this Agreement conflicts with the express provisions of any Servicing Rights Acknowledgement Agreement, the provisions of such Servicing Rights Acknowledgement Agreement shall govern and be controlling.

 Section 11.14 Intercreditor Agreements Govern. NOTWITHSTANDING ANYTHING HEREIN TO THE CONTRARY, THE LIENS AND SECURITY
INTERESTS GRANTED TO THE COLLATERAL AGENT FOR THE BENEFIT OF THE SECURED CREDITORS PURSUANT TO THIS AGREEMENT AND THE EXERCISE OF ANY RIGHT OR REMEDY BY THE COLLATERAL AGENT WITH RESPECT TO ANY COLLATERAL HEREUNDER ARE SUBJECT TO THE PROVISIONS OF
EACH INTERCREDITOR AGREEMENT. IN THE EVENT OF ANY CONFLICT BETWEEN THE PROVISIONS OF ANY INTERCREDITOR AGREEMENT AND THIS AGREEMENT, THE PROVISIONS OF SUCH INTERCREDITOR AGREEMENT SHALL GOVERN AND CONTROL. THE REQUIREMENTS OF THIS AGREEMENT TO
DELIVER PLEDGED COLLATERAL AND ANY CERTIFICATES, INSTRUMENTS OR DOCUMENTS IN RELATION THERETO TO THE COLLATERAL AGENT OR ANY OBLIGATION WITH RESPECT TO THE DELIVERY, TRANSFER, CONTROL, NOTATION OR PROVISION OF VOTING RIGHTS WITH RESPECT TO ANY
COLLATERAL SHALL BE DEEMED SATISFIED BY THE DELIVERY, TRANSFER, CONTROL, NOTATION OR PROVISION IN FAVOR OF THE PARTY SPECIFIED IN THE APPLICABLE INTERCREDITOR AGREEMENT. 

  
 37 

 Section 11.15 Amendment and Restatement; No Novation. This Agreement constitutes for
all purposes an amendment and restatement of the Existing Security Agreement. The Existing Security Agreement, as amended and restated hereby, continues in full force and effect as so amended and restated by this Agreement. Nothing contained in this
Agreement shall constitute or be construed as a novation of any of the Secured Obligations. 
 [Remainder of this page intentionally left
blank; signature page follows] 

  
 38 

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

			
	DITECH HOLDING CORPORATION
	DITECH FINANCIAL LLC
	GREEN TREE CREDIT SOLUTIONS LLC
	GREEN TREE SERVICING CORP.
	WALTER MANAGEMENT HOLDING COMPANY LLC
	DF INSURANCE AGENCY LLC
	GREEN TREE INVESTMENT HOLDINGS III LLC
	GREEN TREE INSURANCE AGENCY OF NEVADA, INC.,
	each as an Assignor
		
	By:	 	 
		 	Name: Cheryl A. Collins
		 	Title: Senior Vice President and Treasurer
	
	WALTER REVERSE ACQUISITION LLC, as an Assignor
		
	By:	 	 
		 	Name: Cheryl A. Collins
		 	Title: Treasurer
	
	GREEN TREE CREDIT LLC, as an Assignor
		
	By:	 	 
		 	Name: Anthony Renzi
		 	Title: President and Treasurer
	
	MORTGAGE ASSET SYSTEMS, LLC
	REO MANAGEMENT SOLUTIONS, LLC, each as an Assignor
		
	By:	 	 
		 	Name: Jeffery Baker
		 	Title: President
	
	REVERSE MORTGAGE SOLUTIONS, INC., as an Assignor
		
	By:	 	 
		 	Name: Cheryl A. Collins
		 	Title: Senior Vice President

 [Signature Page to Amended and Restated First Lien Security Agreement] 

			
	Accepted and Agreed to:
	
	CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, as Collateral Agent
		
	By:	 	 
		 	Name:
		 	Title:
		
	By:	 	 
		 	Name:
		 	Title:

 [Signature Page to Amended and Restated First Lien Security Agreement] 

 Schedule 1 

Chief Executive Office; Record Locations 

Current Chief Executive Offices: 
  

									
	 Assignor
	 	 Address
	 	 City
	 	 County
	 	 State

	Ditech Holding Corporation	 	1100 Virginia Drive, Suite 100	 	Fort Washington	 	Montgomery	 	Pennsylvania
					
	Walter Management Holding Company LLC	 	1100 Virginia Drive, Suite 100A	 	Fort Washington	 	Montgomery	 	Pennsylvania
					
	Ditech Financial LLC	 	1100 Virginia Drive, Suite 100A	 	Fort Washington	 	Montgomery	 	Pennsylvania
					
	DF Insurance Agency LLC	 	345 St. Peter Street	 	Saint Paul	 	Ramsey	 	Minnesota
					
	Green Tree Credit Solutions LLC	 	1100 Virginia Drive, Suite 100A	 	Fort Washington	 	Montgomery	 	Pennsylvania
					
	Green Tree Servicing Corp.	 	1100 Virginia Drive, Suite 100A	 	Fort Washington	 	Montgomery	 	Pennsylvania
					
	Green Tree Credit LLC	 	1100 Virginia Drive, Suite 100A	 	Fort Washington	 	Montgomery	 	Pennsylvania
					
	Green Tree Investment Holdings III LLC	 	1100 Virginia Drive, Suite 100A	 	Fort Washington	 	Montgomery	 	Pennsylvania
					
	Green Tree Insurance Agency of Nevada, Inc.	 	345 St. Peter Street	 	Saint Paul	 	Ramsey	 	Minnesota
					
	Walter Reverse Acquisition LLC	 	3000 Bayport Drive, Suite 1100	 	Tampa	 	Hillsborough	 	Florida
					
	Mortgage Asset Systems, LLC	 	4800 Riverside Drive, Suite 102	 	Palm Beach Gardens	 	Palm Beach County	 	Florida
					
	REO Management Solutions, LLC	 	5222 Cypress Creek Parkway, Suite 100	 	Houston	 	Harris	 	Texas
					
	Reverse Mortgage Solutions, Inc.	 	14405 Walters Road, Suite 200	 	Houston	 	Harris	 	Texas

 Prior Chief Executive Offices: 
  

									
	 Assignor
	 	 Address
	 	 City
	 	 County
	 	 State

	Ditech Holding Corporation	 	3000 Bayport Drive, Suite 1100	 	Tampa	 	Hillsborough	 	Florida
					
	Walter Management Holding Company LLC	 	1100 Landmark Towers 345 St. Peter Street	 	Saint Paul	 	Ramsey	 	Minnesota
					
	Ditech Financial LLC	 	3000 Bayport Drive, Suite 880	 	Tampa	 	Hillsborough	 	Florida
					
		 	1100 Landmark Towers 345 St. Peter Street	 	Saint Paul	 	Ramsey	 	Minnesota

  
 Schedule 1 

									
	 Assignor
	 	 Address
	 	 City
	 	 County
	 	 State

	DF Insurance Agency LLC	 	1100 Landmark Towers 345 St. Peter Street	 	Saint Paul	 	Ramsey	 	Minnesota
					
	Green Tree Credit Solutions LLC	 	1100 Landmark Towers 345 St. Peter Street	 	Saint Paul	 	Ramsey	 	Minnesota
					
	Green Tree Servicing Corp.	 	1100 Landmark Towers 345 St. Peter Street	 	Saint Paul	 	Ramsey	 	Minnesota
					
	Green Tree Credit LLC	 	1100 Landmark Towers 345 St. Peter Street	 	Saint Paul	 	Ramsey	 	Minnesota
					
	Green Tree Investment Holdings III LLC	 	1100 Landmark Towers 345 St. Peter Street	 	Saint Paul	 	Ramsey	 	Minnesota
					
	Green Tree Insurance Agency of Nevada, Inc.	 	1100 Landmark Towers 345 St. Peter Street	 	Saint Paul	 	Ramsey	 	Minnesota
					
		 	300 Landmark Towers 345 St. Peter Street	 	Saint Paul	 	Ramsey	 	Minnesota
					
	Mortgage Asset Systems, LLC	 	4800 Riverside Drive, Suite 102	 	Palm Beach Gardens	 	Palm Beach	 	Florida
					
	REO Management Solutions, LLC	 	5222 FM 1960 West, Suite 100	 	Houston	 	Harris	 	Texas
					
	Reverse Mortgage Solutions, Inc.	 	2727 Spring Creek Drive	 	Spring	 	Harris	 	Texas

  
 Schedule 1 

 Schedule 2 

Legal Names; Type of Organization; Jurisdiction; Location; Organizational Identification Numbers; 

Federal Employer Identification Number 
  

															
	 Legal Name
	 	 Type of Entity
	 	 Transmitting
Utility

(Yes/No)
	 	 Registered

Organization

(Yes/No)
	 	 Organizational

Number
	 	 Federal

Taxpayer

Identification

Number
	 	 State of

Organization
	 	 Location (for purposes of

UCC § 9-307)

	Ditech Holding Corporation	 	Corporation	 	NO	 	YES	 	D04712238	 	13-3950486	 	Maryland	 	Maryland
								
	Green Tree Credit Solutions LLC	 	Limited Liability Company	 	NO	 	YES	 	4730391	 	27-1311565	 	Delaware	 	Delaware
								
	Walter Management Holding Company LLC	 	Limited Liability Company	 	NO	 	YES	 	3644561	 	81-1059818	 	Delaware	 	Delaware
								
	Green Tree Servicing Corp.	 	Corporation	 	NO	 	YES	 	3664478	 	20-0843552	 	Delaware	 	Delaware
								
	Ditech Financial LLC	 	Limited Liability Company	 	NO	 	YES	 	2458190	 	41-1795868	 	Delaware	 	Delaware
								
	Green Tree Credit LLC	 	Limited Liability Company	 	NO	 	YES	 	2908639	 	75-3115864	 	New York	 	New York
								
	Green Tree Investment Holdings III LLC	 	Limited Liability Company	 	NO	 	YES	 	3660312	 	20-0031008	 	Delaware	 	Delaware
								
	Green Tree Insurance Agency of Nevada, Inc.	 	Corporation	 	NO	 	YES	 	C5094-1981	 	88-0187331	 	Nevada	 	Nevada
								
	Walter Reverse Acquisition LLC	 	Limited Liability Company	 	NO	 	YES	 	5208923	 	46-0928837	 	Delaware	 	Delaware

  
 Schedule 2 

															
	 Legal Name
	 	 Type of Entity
	 	 Transmitting
Utility

(Yes/No)
	 	 Registered

Organization

(Yes/No)
	 	 Organizational

Number
	 	 Federal

Taxpayer

Identification

Number
	 	 State of

Organization
	 	 Location (for purposes of

UCC § 9-307)

	Mortgage Asset Systems, LLC	 	Limited Liability Company	 	NO	 	YES	 	4315561	 	87-0798148	 	Delaware	 	Delaware
								
	REO Management Solutions, LLC	 	Limited Liability Company	 	NO	 	YES	 	4737590	 	27-2377787	 	Delaware	 	Delaware
								
	Reverse Mortgage Solutions, Inc.	 	Corporation	 	NO	 	YES	 	4304886	 	77-0672274	 	Delaware	 	Delaware
								
	DF Insurance Agency LLC	 	Limited Liability Company	 	NO	 	YES	 	6014342	 	30-0936918	 	Delaware	 	Delaware

  
 Schedule 2 

 Schedule 3 

Significant Transactions 
  

					
	 Assignor/Subsidiary
	  	 Description of Transaction Including Parties
Thereto
	  	 Date of Transaction

	Green Tree Credit Solutions LLC	  	Green Tree Investment Management LLC, a Delaware limited liability company, liquidated into Green Tree Credit Solutions LLC	  	November 15, 2017
			
	Ditech Financial LLC	  	Landmark Asset Receivables Management LLC, a Delaware limited liability company, merged into Ditech Financial LLC	  	May 31, 2016

  
 Schedule 3 

 Schedule 4 

Letter of Credit Rights 

None. 

  
 Schedule 4 

 Schedule 5 

Commercial Tort Claims 

None. 

  
 Schedule 5 

 Schedule 6 

Trademarks 
 U.S.
TRADEMARK REGISTRATIONS 
  

					
	 Trademark
	  	 Owner
	  	 Registration Number

	GREEN TREE	  	Green Tree Credit Solutions LLC	  	3,958,332
			
	RELATIONSHIPS THAT WORK	  	Green Tree Credit Solutions LLC	  	3,883,516
			
	

	  	Reverse Mortgage Solutions, Inc.	  	3,523,171
			
	RM Navigator	  	Reverse Mortgage Solutions, Inc.	  	3,550,915
			
	RM Compass	  	Reverse Mortgage Solutions, Inc.	  	3,558,675
			
	

	  	Reverse Mortgage Solutions, Inc.	  	4,192,836
			
	SPECIALTY SERVICING SOLUTIONS	  	Reverse Mortgage Solutions, Inc.	  	4,207,913
			
	

	  	Reverse Mortgage Solutions, Inc.	  	4,204,998
			
	GREEN TREE INVESTMENT MANAGEMENT	  	Green Tree Credit Solutions LLC	  	4,968,197
			
	

	  	Ditech Financial LLC	  	4,999,638
			
	DRIVEN BY DITECH	  	Ditech Financial LLC	  	4,800,789
			
	

	  	Ditech Financial LLC	  	4,660,705

  
 Schedule 6 

					
	 Trademark
	  	 Owner
	  	 Registration Number

	

	  	Ditech Financial LLC	  	4,660,706
			
	

	  	Reverse Mortgage Solutions, Inc.	  	4,882,946
			
	

	  	Reverse Mortgage Solutions, Inc.	  	4,875,777
			
	

	  	Reverse Mortgage Solutions, Inc.	  	4,875,778
			
	SECURITY 1	  	Reverse Mortgage Solutions, Inc.	  	4,875,769
			
	

	  	Ditech Financial LLC	  	4,660,707
			
	

	  	Ditech Financial LLC	  	4,660,711
			
	

	  	Ditech Financial LLC	  	4,660,708
			
	

	  	Ditech Financial LLC	  	4,660,709
			
	SECURITY 1 LENDING	  	Reverse Mortgage Solutions, Inc.	  	4,651,345
			
	

	  	Reverse Mortgage Solutions, Inc.	  	4,651,346
			
	

	  	Reverse Mortgage Solutions, Inc.	  	4,236,035

  
 Schedule 6 

					
	 Trademark
	  	 Owner
	  	 Registration Number

	

	  	Reverse Mortgage Solutions, Inc.	  	4,304,530
			
	

	  	Reverse Mortgage Solutions, Inc.	  	4,362,376
			
	

	  	Reverse Mortgage Solutions, Inc.	  	4,463,542
			
	

	  	Reverse Mortgage Solutions, Inc.	  	4,365,970
			
	

	  	Ditech Financial LLC	  	5,244,355
			
	

	  	Ditech Financial LLC	  	5,326,697
			
	DITECH HOME LOANS	  	Ditech Financial LLC	  	5,239,673
			
	LOANS THAT TAKE YOU HOME	  	Ditech Financial LLC	  	5,143,217
			
	SMARTWATCH	  	Ditech Financial LLC	  	5,233,378
			
	DITECH	  	Ditech Financial LLC	  	2,158,800
			
	DITECH	  	Ditech Financial LLC	  	3,417,288
			
	DITECH A WALTER COMPANY	  	Ditech Financial LLC	  	5,156,760
			
	DITECH A WALTER COMPANY	  	Ditech Financial LLC	  	5,156,761
			
	DITECH A WALTER COMPANY	  	Ditech Financial LLC	  	5,156,762
			
	DITECH ESIGNATURE	  	Ditech Financial LLC	  	3,396,372
			
	DITECH FINANCIAL	  	Ditech Financial LLC	  	5,156,758

  
 Schedule 6 

					
	 Trademark
	  	 Owner
	  	 Registration Number

	HOME STARTS HERE	  	Ditech Financial LLC	  	4,538,260
			
	PURCHASE POWER	  	Ditech Financial LLC	  	4,428,573

 U.S. TRADEMARK APPLICATIONS 
  

					
	 Trademark
	  	 Owner
	  	 Application Number

	DITECH HOLDING CORPORATION	  	Ditech Holding Corporation (formerly known as Walter Investment Management Corp.)	  	87/051,226
			
	

	  	Ditech Holding Corporation (formerly known as Walter Investment Management Corp.)	  	87/770,766
			
	DITECH DELIVERY ADVANTAGE	  	Ditech Financial LLC	  	86/763,056
			
	HOME TWEET HOME	  	Ditech Financial LLC	  	86/338,816
			
	ONE RESILIENT FAMILY OF COMPANIES	  	Ditech Holding Corporation (formerly known as Walter Investment Management Corp.)	  	87/725,035
			
	SERVICE READY	  	Ditech Holding Corporation (formerly known as Walter Investment Management Corp.)	  	87/725,023
			
	WALTER INVESTMENT MANAGEMENT CORP. SERVICE READY ONE RESILIENT FAMILY COMPANIES	  	Ditech Holding Corporation (formerly known as Walter Investment Management Corp.)	  	87/726,482

  
 Schedule 6 

 Schedule 7 

Patents 
 U.S. PATENTS
AND DESIGN PATENTS 
 None. 

U.S. PATENT APPLICATIONS 

None. 

  
 Schedule 7 

 Schedule 8 

Copyrights 
 U.S.
COPYRIGHT REGISTRATIONS 
  

					
	 Copyright
	  	 Owner
	  	 Registration No.

	Navigator_V10.5	  	Reverse Mortgage Solutions, Inc.	  	TX0006845984
			
	RM Navigator	  	Reverse Mortgage Solutions, Inc.	  	V3623D725
			
	RM Compass	  	Reverse Mortgage Solutions, Inc.	  	V3623D725
			
	REOcentral V 3.4.	  	Mortgage Asset Systems, LLC	  	TX0007648383
			
	Ditech-Flexible commercial	  	Ditech Financial LLC	  	PA0001679568

 U.S. COPYRIGHT APPLICATIONS 

None. 

  
 Schedule 8 

 Schedule 9 

Deposit Accounts 
  

							
	 Assignor
	  	 Type of Account
	  	 Account Number
	  	 Financial Institution

	DF Insurance Agency LLC	  	Depository	  	1291568712	  	Bank of America
				
	Ditech Financial LLC	  	Concentration	  	1257813493	  	Bank of America
				
	Ditech Financial LLC	  	Other	  	1291241271	  	Bank of America
				
	Ditech Financial LLC	  	General	  	1291243657	  	Bank of America
				
	Ditech Financial LLC	  	General	  	1291475435	  	Bank of America
				
	Ditech Financial LLC	  	Disbursement	  	104793158874	  	US Bank
				
	Ditech Financial LLC	  	Other	  	39131200	  	Wells Fargo Bank, N.A.
				
	Ditech Financial LLC	  	General	  	4838744001	  	Wells Fargo Bank, N.A.
				
	Ditech Holding Corporation	  	General	  	1257067914	  	Bank of America
				
	Mortgage Asset Systems LLC	  	Concentration	  	1854950340	  	Wells Fargo Bank, N.A.
				
	REO Management Solutions, LLC	  	Disbursement	  	9610000698	  	Wells Fargo Bank, N.A.
				
	REO Management Solutions, LLC	  	Concentration	  	2000039528797	  	Wells Fargo Bank, N.A.
				
	Reverse Mortgage Solutions, Inc.	  	General	  	2111011223	  	Texas Capital Bank
				
	Reverse Mortgage Solutions, Inc.	  	General	  	2111040966	  	Texas Capital Bank
				
	Reverse Mortgage Solutions, Inc.	  	General	  	1854950415	  	Wells Fargo Bank, N.A.
				
	Reverse Mortgage Solutions, Inc.	  	Concentration	  	4008080970	  	Wells Fargo Bank, N.A.
				
	Reverse Mortgage Solutions, Inc.	  	Concentration	  	2000019577250	  	Wells Fargo Bank, N.A.

  
 Schedule 8 

 EXHIBIT A 

to Security Agreement 

[FORM OF] FIRST LIEN TRADEMARK SECURITY AGREEMENT 

(this “Agreement”) 

[•], 20[•] 
 FOR GOOD
AND VALUABLE CONSIDERATION, the receipt and sufficiency of which are hereby acknowledged, [Name of Grantor], a [                    ]
[                                        ] (the
“Grantor”) with notice address at
                                        , hereby
grants to CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH as Collateral Agent (the “Grantee”), a continuing security interest in all of the Grantor’s right, title and interest in, to and under (i) each United States Mark,
including, without limitation, each registered or applied for Mark set forth on Schedule A attached hereto, (ii) each Contract that includes any license of, or other grant of rights to, any Mark or any other trademark or similar intellectual
property right of any party to such Contract, including, without limitation, the material Contracts that include any in-bound license of any registered or applied for United States Mark, as set forth on
Schedule A attached hereto, (iii) all Proceeds of the foregoing, (iv) the goodwill of the businesses with which the Marks are associated and (v) all causes of action arising prior to, on or after the date hereof for injury to or
infringement, violation or dilution of any of the foregoing or unfair competition regarding the same or for injury to the goodwill associated with any of the foregoing or violation of intellectual property rights in connection with any of the
foregoing, including all proceeds and revenues therefrom, in each case, whether now owned or existing or hereafter acquiring or arising (the items described in clauses (i)-(v), collectively, the “Mark Collateral”). Notwithstanding
the foregoing, in no event shall the Mark Collateral include (x) any application for registration of a Mark filed with the United States Patent and Trademark Office (“PTO”) on an intent-to-use basis until such time (if any) as a Statement of Use or Amendment to Allege Use is filed and accepted by the PTO, at which time such Mark shall automatically become subject to the security
interest pledged or (y) any other Excluded Collateral. 
 This Agreement is made to secure the satisfactory performance and payment of
all the Secured Obligations of the Grantor, as such term is defined in that certain Amended and Restated First Lien Security Agreement among the Grantor, the other assignors from time to time party thereto and the Grantee, dated as of
February 9, 2018 (as amended, restated, amended and restated, supplemented and/or otherwise modified from time to time, the “Security Agreement”). Upon the occurrence of the Termination Date, the Grantee shall execute,
acknowledge, and deliver to the Grantor an instrument in writing releasing the security interest in the Mark Collateral acquired under this Agreement. 

This Agreement has been granted in conjunction with the security interest granted to the Grantee under the Security Agreement. The rights and
remedies of the Grantee with respect to the security interest granted herein are more fully set forth in the Security Agreement, all terms and provisions of which are incorporated herein by reference. In the event that any provisions of this
Agreement are deemed to conflict with the Security Agreement, the provisions of the Security Agreement shall govern. 
 Unless otherwise
defined herein or the context otherwise requires, terms used in this Agreement, including its preamble, have the meanings provided or provided by reference in the Security Agreement. 

This Agreement may be executed in counterparts, each of which will be deemed an original, but all of which together constitute one and the
same original. 

  
 A-1 

 THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE CONSTRUED IN
ACCORDANCE WITH AND BE GOVERNED BY THE LAWS OF THE STATE OF NEW YORK. 
 [Remainder of this page intentionally left blank; signature page
follows] 

  
 A-2 

 IN WITNESS WHEREOF, the undersigned have executed this First Lien Trademark Security Agreement as
of the date first set forth above. 
  

			
	[NAME OF GRANTOR], as Grantor
		
	By:	 	 
		 	Name:
		 	Title:

  
 A-3 

 
			
	CREDIT SUISSE AG, CAYMAN
	ISLANDS BRANCH, as Collateral Agent and Grantee
		
	By:	 	 
		 	Name:
		 	Title:
		
	By:	 	 
		 	Name:
		 	Title:

  
 A-4 

 Schedule A 

[NAME OF GRANTOR] 
 U.S.
TRADEMARK REGISTRATIONS 
  

					
	 TRADEMARK
	  	 REG. NO.
	  	 REG. DATE

		  		  	
		  		  	
		  		  	
		  		  	
		  		  	

 U.S. TRADEMARK APPLICATIONS 
  

					
	 TRADEMARK
	  	 REG. NO.
	  	 REG. DATE

		  		  	
		  		  	
		  		  	
		  		  	
		  		  	

  
 A-5 

 EXHIBIT B 

to Security Agreement 

[FORM OF] FIRST LIEN PATENT SECURITY AGREEMENT 

(this “Agreement”) 

[•], 20[•] 
 FOR GOOD
AND VALUABLE CONSIDERATION, the receipt and sufficiency of which are hereby acknowledged, [Name of Grantor], a [                    ]
[                    ] (the “Grantor”) with notice address at
                                        , hereby
grants to CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH as Collateral Agent (the “Grantee”), a continuing security interest in all of the Grantor’s right, title and interest in, to and under (i) each United States Patent,
including, without limitation, each issued Patent and patent application set forth on Schedule A attached hereto, (ii) each Contract that includes any license of, or other grant of rights to, any Patent or any other patent or similar
intellectual property right of any party to such Contract, including, without limitation, the material Contracts that include any in-bound license of any United States issued Patent or patent application, as
set forth on Schedule A attached hereto, (iii) all Proceeds of the foregoing and (iv) all causes of action arising prior to, on or after the date hereof for infringement or violation of any of the foregoing or unfair competition regarding
the same, including all proceeds and revenues therefrom, in each case whether now owned or existing or hereafter acquired or arising (the items described in clauses (i)-(iv), collectively, the “Patent Collateral”). Notwithstanding
the foregoing, in no event shall the Patent Collateral include any Excluded Collateral. 
 This Agreement is made to secure the satisfactory
performance and payment of all the Secured Obligations of the Grantor, as such, term is defined in that certain Amended and Restated First Lien Security Agreement among the Grantor, the other assignors from time to time party thereto and the
Grantee, dated as of February 9, 2018 (as amended, restated, amended and restated, supplemented and/or otherwise modified from time to time, the “Security Agreement”). Upon the occurrence of the Termination Date, the Grantee
shall execute, acknowledge, and deliver to the Grantor an instrument in writing releasing the security interest in the Patent Collateral acquired under this Agreement. 

This Agreement has been granted in conjunction with the security interest granted to the Grantee under the Security Agreement. The rights and
remedies of the Grantee with respect to the security interest granted herein are more fully set forth in the Security Agreement, all terms and provisions of which are incorporated herein by reference. In the event that any provisions of this
Agreement are deemed to conflict with the Security Agreement, the provisions of the Security Agreement shall govern. 
 Unless otherwise
defined herein or the context otherwise requires, terms used in this Agreement, including its preamble, have the meanings provided or provided by reference in the Security Agreement. 

This Agreement may be executed in counterparts, each of which will be deemed an original, but all of which together constitute one and the
same original. 
 THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE CONSTRUED IN ACCORDANCE WITH AND BE
GOVERNED BY THE LAWS OF THE STATE OF NEW YORK. 
 [Remainder of this page intentionally left blank; signature page follows] 

  
 B-1 

 IN WITNESS WHEREOF, the undersigned have executed this First Lien Patent Security Agreement as of
as of the date first set forth above. 
  

			
	[NAME OF GRANTOR], as Grantor
		
	By:	 	 
		 	Name:
		 	Title:

  
 B-2 

 
			
	CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, as Collateral Agent and Grantee
		
	By:	 	 
		 	Name:
		 	Title:
		
	By:	 	 
		 	Name:
		 	Title:

  
 B-3 

 Schedule A 

[NAME OF GRANTOR] 
 U.S.
PATENTS AND DESIGN PATENTS 
  

									
	 Patent No.
	  	 Issued
	  	 Expiration
	  	 Country
	  	 Title

		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	

 U.S. PATENT APPLICATIONS 
  

									
	 Case No.
	  	 Serial No.
	  	 Country
	  	 Date
	  	 Filing Title

		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	

  
 B-4 

 EXHIBIT C 

to Security Agreement 

[FORM OF] FIRST LIEN COPYRIGHT SECURITY AGREEMENT 

(this “Agreement”) 

[•], 20[•] 
 FOR GOOD
AND VALUABLE CONSIDERATION, the receipt and sufficiency of which are hereby acknowledged, [Name of Grantor], a [                    ]
[                    ] (the “Grantor”), hereby grants to CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, as Collateral Agent (the
“Grantee”), a continuing security interest in all of the Grantor’s right, title and interest in, to and under (i) each United States Copyright, including, without limitation, those United States registered or applied for
Copyrights set forth in Schedule A attached hereto, (ii) each Contract that includes any license of, or other grant of rights to, any Copyright or any other copyright or similar intellectual property right of any party to such Contract,
including, without limitation, the material Contracts that include any in-bound license of any registered or applied for United States Copyright, as set forth in Schedule A attached hereto, (iii) all
Proceeds of the foregoing and (iv) all causes of action arising prior to, on or after the date hereof for infringement or violation of any of the foregoing or unfair competition regarding the same, including all proceeds and revenues therefrom,
in each case whether now owned or existing or hereafter acquired or arising (the items described in clauses (i)-(iv), collectively, the “Copyright Collateral”). Notwithstanding the foregoing, in no event shall the Copyright
Collateral include any Excluded Collateral. 
 This Agreement is made to secure the satisfactory performance and payment of all the Secured
Obligations of the Grantor, as such, term is defined in that certain Amended and Restated First Lien Security Agreement among the Grantor, the other assignors from time to time party thereto and the Grantee, dated as of February 9, 2018 (as
amended, restated, amended and restated, supplemented and/or otherwise modified from time to time, the “Security Agreement”). Upon the occurrence of the Termination Date, the Grantee shall execute, acknowledge, and deliver to the
Grantor an instrument in writing releasing the security interest in the Copyright Collateral acquired under this Agreement. 
 This
Agreement has been granted in conjunction with the security interest granted to the Grantee under the Security Agreement. The rights and remedies of the Grantee with respect to the security interest granted herein are more fully set forth in the
Security Agreement, all terms and provisions of which are incorporated herein by reference. In the event that any provisions of this Agreement are deemed to conflict with the Security Agreement, the provisions of the Security Agreement shall govern.

 Unless otherwise defined herein or the context otherwise requires, terms used in this agreement, including its preamble, have the
meanings provided or provided by reference in the Security Agreement. 
 This Agreement may be executed in counterparts, each of which will
be deemed an original, but all of which together constitute one and the same original. 
 THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF
THE PARTIES HEREUNDER SHALL BE CONSTRUED IN ACCORDANCE WITH AND BE GOVERNED BY THE LAWS OF THE STATE OF NEW YORK. 
 [Remainder of this
page intentionally left blank; signature page follows] 

  
 C-1 

 IN WITNESS WHEREOF, the undersigned have executed this First Lien Copyright Security Agreement as
of the date first set forth above. 
  

			
	[NAME OF GRANTOR], as Grantor
		
	By:	 	 
		 	Name:
		 	Title:

  
 C-2 

 
			
	CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, as Collateral Agent and Grantee
		
	By:	 	 
		 	Name:
		 	Title:
		
	By:	 	 
		 	Name:
		 	Title:

  
 C-3 

 Schedule A 

[NAME OF GRANTOR] 
 U.S.
COPYRIGHT REGISTRATIONS 
  

							
	 Registration

No.
	  	 Registration

Date
	  	 Title
	  	 Expiration Date

		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	

 U.S. COPYRIGHT APPLICATIONS 
  

									
	 Case No.
	  	 Serial No.
	  	 Country
	  	 Date
	  	 Filing Title

		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	

  
 C-4 

 EXHIBIT D 

to Security Agreement 

[FORM OF] SECURITY AGREEMENT SUPPLEMENT 

SECURITY AGREEMENT SUPPLEMENT dated as of
                    ,         , between [NAME OF ASSIGNOR] (the “Assignor”) and CREDIT
SUISSE AG, CAYMAN ISLANDS BRANCH, as Collateral Agent. 
 WHEREAS, DITECH HOLDING CORPORATION (formerly known as Walter Investment
Management Corp.), a Maryland corporation, the other Assignors from time to time party thereto and CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, as Collateral Agent, are parties to that certain Amended and Restated First Lien Security Agreement, dated as
of February 9, 2018 (as heretofore amended, restated, supplemented, amended and restated and/or otherwise modified from time to time, the “Security Agreement”) under which the Assignors secure their respective Secured
Obligations; 
 WHEREAS, [name of Assignor] desires to become a party to the Security Agreement as an Assignor thereunder; and 

WHEREAS, terms defined in the Security Agreement and not otherwise defined herein have, as used herein, the respective meanings provided for
therein; 
 NOW, THEREFORE, in consideration of the foregoing and other good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, the parties hereto agree as follows: 
 1. Grant of Security Interest. (a) In order to secure its
Secured Obligations, the Assignor grants to the Collateral Agent for the benefit of the Secured Creditors a continuing security interest in all the following property of the Assignor, whether now owned or existing or hereafter acquired or arising
and regardless of where located (the “New Collateral”): 
 (i) each and every Account; 

(ii) all cash; 

(iii) all Chattel Paper (including, without limitation, all Tangible Chattel Paper and all Electronic Chattel Paper); 

(iv) all Commercial Tort Claims described on Schedule 5 hereto as updated from time to time; 

(v) all computer programs of such Assignor and all intellectual property rights therein and all other proprietary information
of such Assignor, including but not limited to Domain Names and Trade Secret Rights, together with all causes of action arising prior to or after the date hereof for infringement of such rights or unfair competition regarding the same and all
income, royalties, damages and payments now or hereafter due with respect to any of the foregoing; 
 (vi) all Contracts,
together with all Contract Rights arising thereunder; 

  
 D-1 

 (vii) all Copyrights, together with all causes of action arising prior to or
after the date hereof for infringement of any Copyrights or unfair competition regarding the same and all income, royalties, damages and payments now or hereafter due with respect to any of the foregoing; 

(viii) all Equipment; 

(ix) all Deposit Accounts and all other demand, deposit, time, savings, cash management, passbook and similar accounts
maintained by such Assignor with any Person and all monies deposited or required to be deposited in any of the foregoing; 

(x) all Documents; 

(xi) all General Intangibles (including any Equity Interests in other Persons that do not constitute Investment Property); 

(xii) all Goods; 

(xiii) all Instruments; 

(xiv) all Inventory; 

(xv) all Investment Property; 

(xvi) all Letter-of-Credit Rights (whether or
not the respective letter of credit is evidenced by a writing); 
 (xvii) all Marks, together with the registrations and
right to all renewals thereof, the goodwill of the business of such Assignor symbolized by the Marks and all causes of action arising prior to or after the date hereof for infringement of any of the Marks or unfair competition regarding the same and
all income, royalties, damages and payments now or hereafter due with respect to any of the foregoing; 
 (xviii) all
Patents, together with all causes of action arising prior to or after the date hereof for infringement of any of the Patents or unfair competition regarding the same and all income, royalties, damages and payments now or hereafter due with respect
to any of the foregoing; 
 (xix) all Permits; 

(xx) all Software and all Software licensing rights, all writings, plans, specifications and schematics, all engineering
drawings, customer lists, credit files, goodwill and licenses, and all recorded data of any kind or nature, regardless of the medium of recording; 

(xxi) all Supporting Obligations; 

(xxii) all other intellectual and similar property of every kind and nature and all embodiments or fixations thereof and
related documentation, registration and franchises, together with all causes of action arising prior to or after the date hereof for infringement of any such rights or unfair competition regarding the same and all income, royalties, damages and
payments now or hereafter due with respect to any of the foregoing; and 

  
 D-2 

 (xxiii) all Proceeds and products of any and all of the foregoing; 

provided that the Assignor shall not be required to grant a security interest hereunder in (and the term “New Collateral” shall not include)
any Excluded Collateral (so long as the same remains “Excluded Collateral” in accordance with the definition thereof). For the avoidance of doubt, notwithstanding the preceding sentence, the Assignor shall be required to grant a security
interest hereunder in 100% of the Non-Voting Equity Interests of each Exempted Foreign Entity at any time and from time to time acquired by such Assignor. 

(b) The Liens granted hereunder are subject to Sections 1.01(b), (c) and (d) of the Security Agreement. 

2. Delivery of Collateral. Concurrently with delivering this Security Agreement Supplement to the Collateral Agent, the Assignor is
complying with the provisions of Section 3.06 of the Security Agreement with respect to any Instrument, if and to the extent included in the New Collateral at such time. 

3. Party to Security Agreement. Upon delivering this Security Agreement Supplement to the Collateral Agent, the Assignor will become a
party to the Security Agreement and will thereafter have all the rights and obligations of an Assignor thereunder and be bound by all the provisions thereof as fully as if the Assignor were one of the original parties thereto. 

4. Representations and Warranties. (a) The Assignor is duly organized, validly existing and in good standing under the laws of its
jurisdiction of organization. 
 (b) The Assignor has delivered a Perfection Certificate and supplements to Schedules 1 through 8 to the
Security Agreement as set forth in Section 11.12 of the Security Agreement to the Collateral Agent. The information set forth therein is correct and complete as of the date hereof. Within 60 days after the date hereof, the Assignor will furnish
to the Collateral Agent a file search report from each UCC filing office listed in such Perfection Certificate, showing the filing made at such filing office to perfect the Liens granted to the Collateral Agent for the benefit of the Secured
Creditors hereunder and under the Security Agreement on the New Collateral. 
 (c) The execution and delivery of this Security Agreement
Supplement by the Assignor and the performance by it of its obligations under the Security Agreement as supplemented hereby are within its corporate or other powers, have been duly authorized by all necessary corporate or other action, require no
action by or in respect of, or filing with, any governmental body, agency or official and do not contravene, or constitute a default under, any provision of applicable law or regulation or of its certificate or articles of incorporation, certificate
of formation, limited liability company agreement or by-laws (or equivalent organizational documents), or of any agreement, judgment, injunction, order, decree or other instrument binding upon it or result in
the creation or imposition of any Lien (except the Lien granted to the Collateral Agent for the benefit of the Secured Creditors hereunder and under the Security Agreement) on any of its assets. 

(d) The Security Agreement as supplemented hereby constitutes a valid and binding agreement of the Assignor, enforceable in accordance with its
terms, except as limited by (i) applicable bankruptcy, insolvency, fraudulent conveyance or other similar laws affecting creditors’ rights generally and (ii) general principles of equity. 

  
 D-3 

 (e) Each of the representations and warranties set forth in Articles 2 through 5 of the Security
Agreement is true as applied to the Assignor and the New Collateral. For purposes of the foregoing sentence, references in said Articles to an “Assignor” shall be deemed to refer to the Assignor, references to Schedules to the Security
Agreement shall be deemed to refer to the corresponding Schedules to this Security Agreement Supplement, references to “Collateral” shall be deemed to refer to the New Collateral, and references to the “Closing Date”, “the
date hereof” or “the date of this Agreement” shall be deemed to refer to the date on which the Assignor signs and delivers this Security Agreement Supplement. 

5. Governing Law. THIS SECURITY AGREEMENT SUPPLEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE CONSTRUED IN
ACCORDANCE WITH AND BE GOVERNED BY THE LAWS OF THE STATE OF NEW YORK. 

  
 D-4 

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

			
	[NAME OF ASSIGNOR]
		
	By:	 	 
		 	Name:
		 	Title:

  
 D-5 

 
			
	CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, as Collateral Agent
		
	By:	 	 
		 	Name:
		 	Title:
		
	By:	 	 
		 	Name:
		 	Title:

  
 D-6 

 EXHIBIT E 

to Security Agreement 

[FORM OF] PERFECTION CERTIFICATE 

[•], 20[•] 
 Reference
is hereby made to that certain Amended and Restated First Lien Security Agreement dated as of February 9, 2018 (as amended, restated, amended and restated, supplemented and/or otherwise modified from time to time, the “Security
Agreement”), among Ditech Holding Corporation (formerly known as Walter Investment Management Corp.), a Maryland corporation (the “Borrower”), the subsidiaries of the Borrower from time to time party thereto (collectively,
the “Subsidiary Assignors” and, together with the Borrower, the “Existing Assignors”) and Credit Suisse AG, Cayman Islands Branch, as collateral agent (“Collateral Agent”). Capitalized terms used
but not defined herein have the meanings assigned in the Security Agreement. 
 [Each of][The] undersigned ([each
a][the] “New Assignor” and together with the Existing Assignors, the “Assignors”) hereby certifies, as of the date hereof and without personal liability, to the Collateral Agent and each other Secured
Creditor as follows: 
 1. Names. (a) The exact legal name of [the][each] Assignor, as such name appears in its
respective certificate of incorporation, formation or other organizational document (as applicable), is set forth in Schedule 1(a). [The][Each] New Assignor is the type of entity disclosed next to its name in Schedule
1(a). Also set forth in Schedule 1(a) is the organizational identification number, if any, of [the][each] New Assignor that is a registered organization, the Federal Taxpayer Identification Number of
[the][each] New Assignor and the jurisdiction of organization of [the][each] New Assignor. 
 (b) Set forth in
Schedule 1(b) hereto is any other corporate or organizational names [the][each] New Assignor has had in the past five years, together with the date of the relevant change. 

(c) Set forth in Schedule 1(c) is a list of all other names (including trade names or similar appellations) used by
[the][each] New Assignor or any of its divisions or business units in connection with the conduct of its business or the ownership of its properties at any time during the past two years. 

(d) Except as set forth in Schedule 1(d), [no New Assignor has][the New Assignor has not] changed its identity or
corporate structure in any way within the past two years. Changes in identity or corporate structure would include mergers, consolidations and acquisitions, as well as any change in the form, nature or jurisdiction of organization. Set forth in
Schedule 1(d) is the information required by Section 1 of this certificate for any other business or organization to which [the][each] New Assignor became the successor by merger, consolidation, acquisition, change in form,
nature or jurisdiction of organization or otherwise, at any time in the past two years. 
 2. Current Locations. (a) The chief
executive office and mailing address of [the][each] New Assignor is located at the address (including street, address, city, county and state) set forth in Schedule 2(a) hereto. 

(b) Set forth in Schedule 2(b) hereto are all locations where [the][each] New Assignor maintains any books or records
relating to any Collateral. 

  
 E-1 

 3. Prior Locations. Set forth in Schedule 3 is the information required by
Schedule 2(a) or Schedule 2(b) with respect to each material location or place of business previously maintained by [the][each] New Assignor at any time during the past five years. 

4. Extraordinary Transactions. Within the last five years, except for those material purchases, acquisitions and other transactions
described on Schedule 4 attached hereto, all of the Accounts have been originated and all other Collateral has been acquired by [the][each] New Assignor in the ordinary course of business. 

5. File Search Reports. File search reports have been obtained from (A) the Uniform Commercial Code filing offices (i) in each
jurisdiction identified in Section 1(a) or Section 2(a) with respect to each legal name set forth in Section 1 and (ii) in each jurisdiction described in Schedule 1(d) or Schedule 4 relating to any of the
transactions described in Schedule (1)(d) or Schedule 4 with respect to each legal name of the person or entity from which [the][each] New Assignor purchased or otherwise acquired any of the Collateral, (B) each
filing officer in each real estate recording office identified on Schedule 8 with respect to any Real Property owned by [the][any] New Assignor with a book value of at least $5,000,000 and (C) such other jurisdictions and
filing offices reasonably required by the Collateral Agent to identify any other liens, security interests or other encumbrances upon the Collateral. Such search reports reflect no liens against any of the Collateral other than those permitted under
the Credit Agreement. 
 6. UCC Filings. Financing statements (duly authorized by [the][each] New Assignor constituting
the debtor therein), including the indications of the collateral, attached as Schedule 6 have been prepared for filing in the proper Uniform Commercial Code filing offices in the jurisdictions identified in Schedule 7 hereof. 

7. Schedule of Filings. Attached hereto as Schedule 7 is a schedule of (i) the appropriate filing offices for the financing
statements attached hereto as Schedule 6 and (ii) any other actions required to create, preserve, protect and perfect the security interests in the Collateral that may be perfected by filing granted to the Collateral Agent pursuant to
the Security Documents. No other filings or actions are required to create, preserve, protect and perfect the security interests in the Collateral that may be perfected by filing granted to the Collateral Agent pursuant to the Security Documents.

 8. Real Property. Attached hereto as Schedule 8 is a list of all real property with a book value of at least $5,000,000
owned by [the][each] New Assignor and filing offices for Mortgages in respect of such real property. 
 9. Absence of
Certain Property. [No Assignor owns][The New Assignor does not own] any assets of material value which constitute farm products, as-extracted collateral or timber-to- be-cut (each as defined in the UCC). 

[Remainder of this page has been intentionally left blank] 

  
 E-2 

 IN WITNESS WHEREOF, the undersigned has executed this Perfection Certificate as of the date first
set forth above. 
  

			
	[NEW ASSIGNOR(S)]
		
	By:	 	 
		 	Name:
		 	Title:

  
 E-3 

 EXHIBIT B 

FORM OF PLEDGE AGREEMENT 

  
 B-1 

 EXECUTION VERSION 
  

 
  

AMENDED AND RESTATED FIRST LIEN PLEDGE AGREEMENT 

among 
 EACH OF THE PLEDGORS FROM
TIME TO TIME PARTY HERETO 
 and 

CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH 

as COLLATERAL AGENT 
  

 
 Dated as of
February 9, 2018 
  
  

 
  

 

 TABLE OF CONTENTS 

 
  

 

							
	 	 	 	  	
PAGE
	 
	 ARTICLE 1
	 	SECURITY FOR SECURED OBLIGATIONS	  	 	2	 
			
	ARTICLE 2	 	 DEFINITIONS
	  	 	3	 
			
	ARTICLE 3	 	 PLEDGE OF SECURITIES, ETC.
	  	 	6	 
			
	 Section 3.01
	 	Pledge	  	 	6	 
	 Section 3.02
	 	Procedures	  	 	8	 
	 Section 3.03
	 	Subsequently Acquired Collateral	  	 	10	 
	 Section 3.04
	 	Transfer Taxes	  	 	10	 
	 Section 3.05
	 	Certain Representations and Warranties Regarding the Collateral	  	 	10	 
			
	ARTICLE 4	 	 APPOINTMENT OF SUB-AGENTS; ENDORSEMENTS, ETC.
	  	 	11	 
			
	ARTICLE 5	 	 VOTING, ETC., WHILE NO EVENT OF DEFAULT
	  	 	11	 
			
	ARTICLE 6	 	 DIVIDENDS AND OTHER DISTRIBUTIONS
	  	 	11	 
			
	ARTICLE 7	 	 REMEDIES IN CASE OF AN EVENT OF DEFAULT
	  	 	12	 
			
	ARTICLE 8	 	 REMEDIES, CUMULATIVE, ETC.
	  	 	13	 
			
	ARTICLE 9	 	 APPLICATION OF PROCEEDS
	  	 	13	 
			
	ARTICLE 10	 	 PURCHASERS OF COLLATERAL
	  	 	14	 
			
	ARTICLE 11	 	 INDEMNITY
	  	 	14	 
			
	ARTICLE 12	 	 PLEDGEE NOT A PARTNER OR LIMITED LIABILITY COMPANY MEMBER
	  	 	14	 
			
	ARTICLE 13	 	 FURTHER ASSURANCES;
POWER-OF-ATTORNEY
	  	 	15	 
			
	ARTICLE 14	 	 THE PLEDGEE AS COLLATERAL AGENT
	  	 	16	 
			
	ARTICLE 15	 	 TRANSFER BY THE PLEDGORS
	  	 	17	 
			
	ARTICLE 16	 	 REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE PLEDGORS
	  	 	17	 
			
	ARTICLE 17	 	 [RESERVED]
	  	 	19	 
			
	ARTICLE 18	 	 PLEDGORS’ OBLIGATIONS ABSOLUTE, ETC.
	  	 	19	 

  

							
	ARTICLE 19  	 	 SALE OF COLLATERAL WITHOUT REGISTRATION
	  	 	20	 
			
	ARTICLE 20	 	 TERMINATION; RELEASE
	  	 	20	 
			
	ARTICLE 21	 	 NOTICES, ETC.
	  	 	22	 
			
	ARTICLE 22	 	 WAIVER; AMENDMENT
	  	 	22	 
			
	ARTICLE 23	 	 SUCCESSORS AND ASSIGNS
	  	 	22	 
			
	ARTICLE 24	 	 HEADINGS DESCRIPTIVE
	  	 	22	 
			
	ARTICLE 25	 	 GOVERNING LAW; SUBMISSION TO JURISDICTION; VENUE; WAIVER OF JURY TRIAL
	  	 	22	 
			
	ARTICLE 26	 	 PLEDGOR’S DUTIES
	  	 	23	 
			
	ARTICLE 27	 	 COUNTERPARTS
	  	 	23	 
			
	ARTICLE 28	 	 SEVERABILITY
	  	 	24	 
			
	ARTICLE 29	 	 RECOURSE
	  	 	24	 
			
	ARTICLE 30	 	 ADDITIONAL PLEDGORS
	  	 	24	 
			
	ARTICLE 31	 	 LIMITED OBLIGATIONS
	  	 	24	 
			
	ARTICLE 32	 	 [RESERVED]
	  	 	25	 
			
	ARTICLE 33	 	 BROKER DEALER COMPLIANCE
	  	 	25	 
			
	ARTICLE 34	 	 INTERCREDITOR AGREEMENTS GOVERN
	  	 	25	 
			
	ARTICLE 35	 	 AMENDMENT AND RESTATEMENT
	  	 	26	 

  

			
	Annex A	  	[Reserved]
	Annex B	  	Subsidiaries
	Annex C	  	Corporate Stock
	Annex D	  	Notes
	Annex E	  	Limited Liability Company Interests
	Annex F	  	Partnership Interests
	Annex G	  	Other Pledged Collateral
	Annex H	  	Uncertificated Security Agreement

  
 ii 

 AMENDED AND RESTATED FIRST LIEN PLEDGE AGREEMENT 

AMENDED AND RESTATED FIRST LIEN PLEDGE AGREEMENT (as amended, restated, amended and restated, supplemented and/or otherwise modified from time
to time, this “Agreement”), dated as of February 9, 2018, among each of the undersigned pledgors (each, a “Pledgor” and, together with any other entity that becomes a pledgor hereunder pursuant to Article 30
hereof, the “Pledgors”) and Credit Suisse AG, Cayman Islands Branch, as collateral agent (together with any successor collateral agent, the “Pledgee”), for the benefit of the Secured Creditors (as defined below).
Except as otherwise defined herein, all capitalized terms used herein and defined in the Credit Agreement (as defined below) shall be used herein as therein defined. 

W I T N E S S E T H: 

WHEREAS, Ditech Holding Corporation (formerly known as Walter Investment Management Corp.), a Maryland corporation (the
“Borrower”), the lenders from time to time party thereto (the “Lenders”) and Credit Suisse AG, Cayman Islands Branch as administrative agent (together with any successor administrative agent, the
“Administrative Agent”) and collateral agent (together with any successor collateral agent, the “Collateral Agent”), have entered into a Second Amended and Restated Credit Agreement, dated as of February 9,
2018 (as amended, restated, amended and restated, supplemented and/or otherwise modified from time to time, the “Credit Agreement”), which amends and restates that certain Amended and Restated Credit Agreement, dated as of
December 19, 2013, by and among the Borrower, the Lenders, the Administrative Agent and the Collateral Agent, providing for the making of Loans to the Borrower, all as contemplated therein (the Lenders, each Issuing Bank, the Administrative
Agent and the Pledgee are herein called the “Lender Creditors”); 
 WHEREAS, the Borrower and/or one or more of its
Subsidiaries that is a Credit Party may at any time and from time to time enter into one or more Interest Rate Protection Agreements and/or Other Hedging Agreements with one or more Lenders or any affiliate thereof (each such Lender or affiliate,
even if the respective Lender subsequently ceases to be a Lender under the Credit Agreement for any reason, together with such Lender’s or affiliate’s successors and assigns, if any, collectively, the “Other Creditors”
and, together with the Lender Creditors, the “Secured Creditors”; and with each such Interest Rate Protection Agreement and/or Other Hedging Agreement with an Other Creditor being herein called a “Secured Hedging
Agreement”); 
 WHEREAS, pursuant to the Subsidiaries Guaranty, the Subsidiary Guarantors have guaranteed to the Secured Creditors
the payment when due of all Guaranteed Obligations as described (and defined) therein; 
 WHEREAS, the Borrower, the other Pledgors and the
Collateral Agent are party to that certain Pledge Agreement, dated as of November 28, 2012 (as amended, restated, amended and restated, supplemented and/or otherwise modified from time to time prior to the date hereof, the “Existing
Pledge Agreement”); and 
 WHEREAS, pursuant to the Credit Agreement, the Pledgors and the Collateral Agent (at the direction of
the Lenders) have agreed to amend and restate the Existing Pledge Agreement on the terms and conditions specified herein; 
 NOW, THEREFORE,
in consideration of the foregoing and other benefits accruing to each Pledgor, the receipt and sufficiency of which are hereby acknowledged, the Existing Pledge Agreement is amended and restated as specified herein and each Pledgor hereby makes the
following representations and warranties to the Pledgee for the benefit of the Secured Creditors and hereby covenants and agrees with the Pledgee for the benefit of the Secured Creditors as follows: 

 ARTICLE 1 

SECURITY FOR SECURED OBLIGATIONS 

This Agreement is made by each Pledgor for the benefit of the Secured Creditors to secure: 

(i) the full and prompt payment when due (whether at stated maturity, by acceleration or otherwise) of all obligations,
liabilities and indebtedness (including, without limitation, principal, premium, interest (including, without limitation, all interest that accrues after the commencement of any case, proceeding or other action relating to the bankruptcy,
insolvency, receivership, reorganization or similar proceeding of any Pledgor or any Subsidiary thereof (or which would accrue but for the operation of applicable bankruptcy or insolvency laws) at the rate provided for in the respective
documentation, whether or not a claim for post-petition interest is allowed or allowable in any such proceeding), reimbursement obligations under Letters of Credit, fees, costs and indemnities) of such Pledgor owing to the Lender Creditors (other
than Excluded Swap Obligations), whether now existing or hereafter incurred under, arising out of or in connection with, each Credit Document to which such Pledgor is a party (including, in the case of each Pledgor that is a Subsidiary Guarantor,
all such obligations, liabilities and indebtedness of such Pledgor under its Subsidiaries Guaranty) and the due performance and compliance by such Pledgor with all of the terms, conditions and agreements contained in each such Credit Document (all
such obligations, liabilities and indebtedness under this clause (i), except to the extent consisting of obligations, liabilities or indebtedness with respect to the Secured Hedging Agreements, being herein collectively called the “Credit
Document Obligations”); 
 (ii) the full and prompt payment when due (whether at stated maturity, by acceleration or
otherwise) of all obligations, liabilities and indebtedness (including, without limitation, all interest that accrues after the commencement of any case, proceeding or other action relating to the bankruptcy, insolvency, receivership, reorganization
or similar proceeding of any Pledgor or any Subsidiary thereof (or which would accrue but for the operation of bankruptcy or insolvency laws) at the rate provided for in the respective documentation, whether or not a claim for post-petition interest
is allowed or allowable in any such proceeding) owing by such Pledgor to the Other Creditors (other than Excluded Swap Obligations), whether now existing or hereafter incurred under, arising out of or in connection with, each Secured Hedging
Agreement, whether such Secured Hedging Agreement is now in existence or hereinafter arising (including, in the case of a Pledgor that is a Subsidiary Guarantor, all obligations, liabilities and indebtedness of such Pledgor under its Subsidiaries
Guaranty in respect of each Secured Hedging Agreements), and the due performance and compliance by such Pledgor with all of the terms, conditions and agreements contained in each Secured Hedging Agreement (all such obligations, liabilities and
indebtedness under this clause (ii) being herein collectively called the “Other Obligations”); 
 (iii)
any and all sums advanced by the Pledgee in its reasonable discretion in order to preserve the Collateral (as hereinafter defined) or preserve its security interest in the Collateral; 

(iv) in the event of any proceeding for the collection or enforcement of any indebtedness, obligations or liabilities of such
Pledgor referred to in clauses (i) and (ii) above, after an Event of Default shall have occurred and be continuing, the reasonable expenses of retaking, holding, preparing for sale or lease, selling or otherwise disposing of or realizing on the
Collateral, or of any exercise by the Pledgee of its rights hereunder, together with reasonable attorneys’ fees and court costs; and 

  
 2 

 (v) all amounts paid by any Indemnitee as to which such Indemnitee has the right
to reimbursement under Article 11 of this Agreement; 
 all such obligations, liabilities, indebtedness, sums and expenses set forth in clauses
(i) through (v) of this Article 1 being herein collectively called the “Secured Obligations,” it being acknowledged and agreed that the “Secured Obligations” shall include extensions of credit of the types
described above, whether extended on the date of this Agreement or extended from time to time after the date of this Agreement. 
 ARTICLE 2

 DEFINITIONS 

(a) Unless otherwise defined herein, all capitalized terms used herein and defined in the Credit Agreement shall be used herein as therein
defined. Reference to singular terms shall include the plural and vice versa. Section 1.02 of the Credit Agreement shall apply to this Agreement, mutatis mutandis. 

(b) The following capitalized terms used herein shall have the definitions specified below: 

“Administrative Agent” shall have the meaning set forth in the recitals hereto. 

“Adverse Claim” shall have the meaning given such term in Section 8-102(a)(1) of
the UCC. 
 “Agreement” shall have the meaning set forth in the first paragraph hereof. 

“Borrower” shall have the meaning set forth in the recitals hereto. 

“Broker-Dealer Subsidiary” shall mean any Subsidiary that is registered as (a) a broker or a dealer pursuant to
Section 15 of the Exchange Act or (b) a broker or a dealer or an underwriter under any foreign securities law. 

“Certificated Security” shall have the meaning given such term in
Section 8-102(a)(4) of the UCC. 
 “Clearing Corporation” shall have the
meaning given such term in Section 8-102(a)(5) of the UCC. 
 “Collateral”
shall have the meaning set forth in Section 3.01 hereof. 
 “Collateral Accounts” shall mean any and all accounts
established and maintained by the Pledgee in the name of any Pledgor to which Collateral may be credited. 
 “Commodity Exchange
Act” shall mean the Commodity Exchange Act (7 U.S.C. § 1 et seq.), as amended from time to time, and any successor statute. 

“Contract” shall mean all contracts between any Pledgor and one or more additional parties (including, without limitation,
any partnership agreements, joint venture agreements and limited liability company agreements). 
 “Credit Agreement” shall
have the meaning set forth in the recitals hereto. 
 “Credit Document Obligations” shall have the meaning set forth in
Article 1(i) hereof. 
 “Domestic Corporation” shall have the meaning set forth in the definition of “Stock.”

  
 3 

 “Excluded Collateral” shall have the meaning given such term in the Security
Agreement. 
 “Excluded Swap Obligation” shall mean, with respect to any Pledgor, any Swap Obligation if, and to the extent
that, and only for so long as, all or a portion of the guarantee of such Pledgor of, or the pledge by such Pledgor of a security interest to secure, as applicable, such Swap Obligation (or any guarantee thereof) is or becomes illegal under the
Commodity Exchange Act or any rule, regulation or order of the Commodity Futures Trading Commission (or the application or official interpretation of any thereof) by virtue of such Pledgor’s failure for any reason to constitute an
“eligible contract participant” as defined in the Commodity Exchange Act and the regulations thereunder at the time the guarantee of such Pledgor or the pledge of such security interest, as applicable, becomes effective or would become
effective with respect to such Swap Obligation. If a Swap Obligation arises under a master agreement governing more than one Swap, such exclusion shall apply only to the portion of such Swap Obligation that is attributable to Swaps for which such
guarantee or security interest is or becomes illegal. 
 “Exempted Foreign Entity” shall mean any Foreign Corporation and
other Company organized under the laws of a jurisdiction other than the United States or any State thereof or the District of Columbia that, in any such case, is treated as a corporation or an association taxable as a corporation for U.S. federal
income tax purposes. 
 “Existing Pledge Agreement” shall have the meaning set forth in the recitals hereto. 

“Financial Asset” shall have the meaning given such term in Section 8-102(a)(9)
of the UCC. 
 “Foreign Corporation” shall have the meaning set forth in the definition of “Stock.” 

“Indemnitees” shall have the meaning set forth in Article 11 hereof. 

“Instrument” shall have the meaning given such term in Section 9-102(a)(47) of
the UCC. 
 “Investment Property” shall have the meaning given such term in
Section 9-102(a)(49) of the UCC. 
 “Lender Creditors” shall have the meaning
set forth in the recitals hereto. 
 “Lenders” shall have the meaning set forth in the recitals hereto. 

“Limited Liability Company Assets” shall mean all assets of a limited liability company, whether tangible or intangible and
whether real, personal or mixed (including, without limitation, all limited liability company capital and interest in other limited liability companies), at any time owned by any Pledgor or represented by any Limited Liability Company Interest. 

“Limited Liability Company Interests” shall mean the entire limited liability company membership interest at any time owned
by any Pledgor in any limited liability company. 
 “Non-Voting Equity Interests”
shall mean all Equity Interests of any Person which are not Voting Equity Interests. 
 “Notes” shall mean (x) all
intercompany notes at any time issued to each Pledgor and (y) all other promissory notes from time to time issued to, or held by, each Pledgor. 

“Other Creditors” shall have the meaning set forth in the recitals hereto. 

  
 4 

 “Other Obligations” shall have the meaning set forth in Article 1(ii) hereof.

 “Partnership Assets” shall mean all assets of a partnership, whether tangible or intangible and whether real, personal
or mixed (including, without limitation, all partnership capital and interest in other partnerships), at any time owned by any Pledgor or represented by any Partnership Interest. 

“Partnership Interest” shall mean the entire general partnership interest or limited partnership interest at any time owned
by any Pledgor in any general partnership or limited partnership. 
 “Pledged Notes” shall mean all Notes at any time
pledged or required to be pledged hereunder. 
 “Pledgee” shall have the meaning set forth in the first paragraph hereof.

 “Pledgor” shall have the meaning set forth in the first paragraph hereof. 

“Proceeds” shall have the meaning given such term in Section 9-102(a)(64) of the
UCC. 
 “Registered Organization” shall have the meaning given such term in
Section 9-102(a)(70) of the UCC. 
 “Required Secured Creditors” shall have
the meaning provided in the Security Agreement. 
 “Secured Creditors” shall have the meaning set forth in the recitals
hereto. 
 “Secured Debt Agreements” shall mean and include (x) this Agreement, (y) the other Credit Documents
and (z) the Secured Hedging Agreements. 
 “Secured Hedging Agreements” shall have the meaning set forth in the
recitals hereto. 
 “Secured Obligations” shall have the meaning set forth in Article 1 hereof. 

“Securities Account” shall have the meaning given such term in Section 8-501(a)
of the UCC. 
 “Securities Intermediary” shall have the meaning given such term in
Section 8-102(14) of the UCC. 
 “Security” and “Securities”
shall have the meaning given such term in Section 8-102(a)(15) of the UCC and shall in any event also include all Stock and all Notes. 

“Security Entitlement” shall have the meaning given such term in
Section 8-102(a)(17) of the UCC. 
 “Stock” shall mean (x) with respect
to corporations incorporated under the laws of the United States or any State thereof or the District of Columbia (each, a “Domestic Corporation”), all of the issued and outstanding shares of capital stock of any Domestic
Corporation at any time owned by any Pledgor and (y) with respect to corporations that are not Domestic Corporations (each, a “Foreign Corporation”), all of the issued and outstanding shares of capital stock of any Foreign
Corporation at any time owned by any Pledgor. 
 “Swap” shall mean, any agreement, contract or transaction that constitutes
a “swap” within the meaning of section 1a(47) of the Commodity Exchange Act, including any Interest Rate Protection Agreement or any Other Hedging Agreement.” 

  
 5 

 “Swap Obligation” shall mean, with respect to any Pledgor, any obligation to pay
or perform under any Swap. 
 “Termination Date” shall have the meaning set forth in Article 20 hereof. 

“UCC” shall mean the Uniform Commercial Code as in effect in the State of New York from time to time; provided that all
references herein to specific Sections or subsections of the UCC are references to such Sections or subsections, as the case may be, of the Uniform Commercial Code as in effect in the State of New York on the date hereof. 

“Uncertificated Security” shall have the meaning given such term in
Section 8-102(a)(18) of the UCC. 
 “Voting Equity Interests” of any Person
shall mean all classes of Equity Interests of such Person entitled to vote. 
 ARTICLE 3 

PLEDGE OF SECURITIES, ETC. 

Section 3.01 Pledge. To secure the Secured Obligations now or hereafter owed or to be performed by such Pledgor, each Pledgor does
hereby grant, pledge and assign to the Pledgee for the benefit of the Secured Creditors, and does hereby create a continuing security interest in favor of the Pledgee for the benefit of the Secured Creditors in, all of its right, title and interest
in and to the following, whether now owned or existing or hereafter from time to time acquired or arising and regardless of where located (collectively, the “Collateral”): 

(a) each of the Collateral Accounts, including any and all assets of whatever type or kind deposited by such Pledgor in any such Collateral
Account, whether now owned or hereafter acquired, existing or arising, including, without limitation, all Financial Assets, Investment Property, monies, checks, drafts, Instruments, Securities or interests therein of any type or nature deposited or
required by the Credit Agreement or any other Secured Debt Agreement to be deposited in such Collateral Account, and all investments and all certificates and other Instruments (including depository receipts, if any) from time to time representing or
evidencing the same, and all dividends, interest, distributions, cash and other property from time to time received, receivable or otherwise distributed in respect of or in exchange for any or all of the foregoing; 

(b) all Securities owned or held by such Pledgor from time to time and all options and warrants owned by such Pledgor from time to time to
purchase Securities; 
 (c) all Limited Liability Company Interests owned by such Pledgor from time to time and all of its right, title and
interest in each limited liability company to which each such Limited Liability Company Interest relates, whether now existing or hereafter acquired, including, without limitation, to the fullest extent permitted under the terms and provisions of
the documents and agreements governing such Limited Liability Company Interests and applicable law: 
 (i) all its capital
therein and its interest in all profits, income, surpluses, losses, Limited Liability Company Assets and other distributions to which such Pledgor shall at any time be entitled in respect of such Limited Liability Company Interests; 

  
 6 

 (ii) all other payments due or to become due to such Pledgor in respect of
Limited Liability Company Interests, whether under any limited liability company agreement or otherwise, whether as contractual obligations, damages, insurance proceeds or otherwise; 

(iii) all of its claims, rights, powers, privileges, authority, options, security interests, liens and remedies, if any, under
any limited liability company agreement or operating agreement, or at law or otherwise in respect of such Limited Liability Company Interests; 

(iv) all present and future claims, if any, of such Pledgor against any such limited liability company for monies loaned or
advanced, for services rendered or otherwise; 
 (v) all of such Pledgor’s rights under any limited liability company
agreement or operating agreement or at law to exercise and enforce every right, power, remedy, authority, option and privilege of such Pledgor relating to such Limited Liability Company Interests, including any power to terminate, cancel or modify
any such limited liability company agreement or operating agreement, to execute any instruments and to take any and all other action on behalf of and in the name of any of such Pledgor in respect of such Limited Liability Company Interests and any
such limited liability company, to make determinations, to exercise any election (including, but not limited to, election of remedies) or option or to give or receive any notice, consent, amendment, waiver or approval, together with full power and
authority to demand, receive, enforce, collect or receipt for any of the foregoing or for any Limited Liability Company Asset, to enforce or execute any checks, or other instruments or orders, to file any claims and to take any action in connection
with any of the foregoing; and 
 (vi) all other property hereafter delivered in substitution for or in addition to any of
the foregoing, all certificates and instruments representing or evidencing such other property and all cash, securities, interest, dividends, rights and other property at any time and from time to time received, receivable or otherwise distributed
in respect of or in exchange for any or all thereof; 
 (d) all Partnership Interests owned by such Pledgor from time to time and all of its
right, title and interest in each partnership to which each such Partnership Interest relates, whether now existing or hereafter acquired, including, without limitation, to the fullest extent permitted under the terms and provisions of the documents
and agreements governing such Partnership Interests and applicable law: 
 (i) all its capital therein and its interest in
all profits, income, surpluses, losses, Partnership Assets and other distributions to which such Pledgor shall at any time be entitled in respect of such Partnership Interests; 

(ii) all other payments due or to become due to such Pledgor in respect of Partnership Interests, whether under any partnership
agreement or otherwise, whether as contractual obligations, damages, insurance proceeds or otherwise; 
 (iii) all of its
claims, rights, powers, privileges, authority, options, security interests, liens and remedies, if any, under any partnership agreement or operating agreement, or at law or otherwise in respect of such Partnership Interests; 

(iv) all present and future claims, if any, of such Pledgor against any such partnership for monies loaned or advanced, for
services rendered or otherwise; 

  
 7 

 (v) all of such Pledgor’s rights under any partnership agreement or
operating agreement or at law to exercise and enforce every right, power, remedy, authority, option and privilege of such Pledgor relating to such Partnership Interests, including any power to terminate, cancel or modify any partnership agreement or
operating agreement, to execute any instruments and to take any and all other action on behalf of and in the name of such Pledgor in respect of such Partnership Interests and any such partnership, to make determinations, to exercise any election
(including, but not limited to, election of remedies) or option or to give or receive any notice, consent, amendment, waiver or approval, together with full power and authority to demand, receive, enforce, collect or receipt for any of the foregoing
or for any Partnership Asset, to enforce or execute any checks, or other instruments or orders, to file any claims and to take any action in connection with any of the foregoing; and 

(vi) all other property hereafter delivered in substitution for or in addition to any of the foregoing, all certificates and
instruments representing or evidencing such other property and all cash, securities, interest, dividends, rights and other property at any time and from time to time received, receivable or otherwise distributed in respect of or in exchange for any
or all thereof; 
 (e) all Financial Assets and Investment Property owned by such Pledgor from time to time; 

(f) all Security Entitlements owned by such Pledgor from time to time in any and all of the foregoing; and 

(g) all Proceeds of any and all of the foregoing; 

provided that, no Pledgor shall be required at any time to pledge hereunder (and the term “Collateral” shall not include) any Excluded
Collateral (so long as the same remains “Excluded Collateral” in accordance with the definition thereof). 
 Section 3.02
Procedures. (a) To the extent that any Pledgor as of the Closing Date or at any time or from time to time thereafter owns, acquires or obtains any right, title or interest in any Collateral, such Collateral shall automatically (and
without the taking of any action by such Pledgor) be pledged pursuant to Section 3.01 of this Agreement and, in addition thereto, such Pledgor shall (to the extent provided below) take the following actions as set forth below as promptly as
practicable and, (x) in the case of any such Collateral owned by a Pledgor on the Closing Date and constituting Certificated Securities, as of the Closing Date, (y) in the case of any such Collateral other than Certificated Securities
owned by a Pledgor on the Closing Date, to the extent not accomplished as of the Closing Date after use of commercially reasonable efforts by such Pledgor, within 60 days after the Closing Date and (z) in the case of any such Collateral owned
by a Pledgor after the Closing Date, within 60 days after it obtains such Collateral (or such later date as determined by the Collateral Agent in its reasonable discretion), for the benefit of the Pledgee and the other Secured Creditors: 

(i) with respect to a Certificated Security (other than a Certificated Security credited on the books of a Clearing Corporation
or Securities Intermediary), such Pledgor shall physically deliver such Certificated Security to the Pledgee, endorsed to the Pledgee or endorsed in blank; 

(ii) with respect to an Uncertificated Security (other than an Uncertificated Security credited on the books of a Clearing
Corporation or Securities Intermediary), such Pledgor shall only authorize, execute and deliver, and cause the issuer of such Uncertificated Security to duly authorize, execute and deliver to the Pledgee, an agreement for the benefit of the Pledgee
and the other Secured Creditors substantially in the form of Annex H hereto (appropriately completed to the satisfaction of the Pledgee and with such modifications, if any, as shall be reasonably satisfactory to the Pledgee) pursuant to which such
issuer agrees to comply with any and all instructions originated by the Pledgee without further consent by the registered owner and not to comply with instructions regarding such Uncertificated Security (and any Partnership Interests and Limited
Liability Company Interests issued by such issuer) originated by any other Person other than a court of competent jurisdiction; 

  
 8 

 (iii) with respect to a Certificated Security, Uncertificated Security,
Partnership Interest or Limited Liability Company Interest credited on the books of a Clearing Corporation or Securities Intermediary (including a Federal Reserve Bank, Participants Trust Company or The Depository Trust Company), such Pledgor shall
take (x) all actions required (i) to comply with the applicable rules of such Clearing Corporation or Securities Intermediary and (ii) to perfect the security interest of the Pledgee under applicable law and (y) such other
actions as the Pledgee deems necessary or desirable to effect the foregoing; provided that a Pledgor shall not be required to enter into any control agreement in respect of any Security Entitlement or Securities Account; 

(iv) with respect to a Partnership Interest or a Limited Liability Company Interest (other than a Partnership Interest or
Limited Liability Company Interest credited on the books of a Clearing Corporation or Securities Intermediary), (1) if such Partnership Interest or Limited Liability Company Interest is represented by a certificate and is a Security for purposes of
the UCC, such Pledgor shall follow the procedure set forth in Section 3.02(a)(i) hereof, and (2) if such Partnership Interest or Limited Liability Company Interest is not represented by a certificate but is a Security for purposes of the
UCC, such Pledgor shall follow the procedure set forth in Section 3.02(a)(ii) hereof; 
 (v) with respect to any
Intercompany Note, and any other Note in an amount in excess of $500,000, such Pledgor (in either case) shall provide physical delivery of such Intercompany Note and other Note to the Pledgee, endorsed in blank, or, at the request of the Pledgee,
endorsed to the Pledgee; and 
 (vi) with respect to cash proceeds from any of the Collateral described in Section 3.01
hereof, at any time following a request by the Pledgee given while an Event of Default is in existence, such Pledgor shall (i) permit establishment by the Pledgee of a deposit account in the name of such Pledgor over which the Pledgee shall
have “control” within the meaning of Section 9-104 of the UCC and no withdrawals or transfers may be made therefrom by any Person except with the prior written consent of the Pledgee and
(ii) provide for the deposit of such cash in such deposit account. 
 (b) In addition to the actions required to be taken pursuant to
Section 3.02(a) hereof, each Pledgor shall take the following additional actions with respect to the Collateral: 
 (i)
with respect to all Collateral of such Pledgor whereby or with respect to which the Pledgee may obtain “control” thereof within the meaning of Section 8-106 of the UCC (or under any provision of
the UCC as same may be amended or supplemented from time to time, or under the laws of any relevant State other than the State of New York), such Pledgor shall take all actions as may be requested from time to time by the Pledgee so that
“control” of such Collateral is obtained and at all times held by the Pledgee; provided that no Pledgor shall be required to enter into a control agreement in respect of any Security Entitlement and the Securities Account to which
the underlying Financial Asset is credited; 

  
 9 

 (ii) each Pledgor shall from time to time deliver to the Pledgee financing
statements (on appropriate forms) under the Uniform Commercial Code as in effect in the various relevant States, covering all Collateral hereunder (with the form of such financing statements to be satisfactory to the Pledgee), to be filed in the
relevant filing offices so that at all times the Pledgee’s security interest in all Investment Property and other Collateral which can be perfected by the filing of such financing statements (in each case to the maximum extent perfection by
filing may be obtained under the laws of the relevant States, including, without limitation, Section 9-312(a) of the UCC) may be so perfected; and 

(iii) subject to the terms of this Agreement and to the extent permitted by applicable law, upon the occurrence and during the
continuance of an Event of Default and following request by the Pledgee, each Pledgor shall cause each Broker-Dealer Subsidiary to (A) make any required filing or application with, and give any required notice to, any applicable Governmental
Authority or Regulatory Supervising Organization that may be necessary to permit the Secured Creditors and the Pledgee to acquire, exercise control over, transfer or otherwise exercise any rights provided under this Agreement over the Equity
Interests of a Broker-Dealer Subsidiary pledged hereunder, (B) use its best efforts to pursue such filing, application or notice and obtain any required consent or approval as promptly as practicable, (C) notify the Pledgee of any filing
or notice that will be required, which each Pledgor represents will contain a complete list of all regulatory authorizations and notifications that may be required, and (D) take such other actions as may be reasonably requested by the Pledgee
to facilitate such acquisition, control or transfer of the Equity Interests of any Broker-Dealer Subsidiary pledged hereunder. 

Section 3.03 Subsequently Acquired Collateral. If any Pledgor shall acquire (by purchase, stock dividend, distribution or
otherwise) any additional Collateral at any time or from time to time after the date hereof, (i) such Collateral shall automatically (and without any further action being required to be taken) be subject to the pledge and security interests
created pursuant to Section 3.01 hereof and, furthermore, such Pledgor will thereafter take (or cause to be taken) all action (as promptly as practicable and, in any event, within 60 days after it obtains such Collateral (or such later date as
determined by the Collateral Agent in its reasonable discretion)) reasonably required with respect to such Collateral in accordance with the procedures set forth in Section 3.02 hereof, and will promptly thereafter deliver to the Pledgee
(i) a certificate executed by an authorized officer of such Pledgor describing such Collateral and certifying that the same has been duly pledged in favor of the Pledgee (for the benefit of the Secured Creditors) hereunder and
(ii) supplements to Annexes A through G hereto as are necessary to cause such Annexes to be complete and accurate at such time. Without limiting the foregoing, each Pledgor shall be required to pledge hereunder the Equity Interests of
(x) any Exempted Foreign Entity and (y) any Domestic Subsidiary substantially all of the assets of which consist of Equity Interests of one or more Foreign Subsidiaries, in each case at any time and from time to time after the date hereof
acquired by such Pledgor, provided that no Pledgor shall be required at any time to pledge hereunder the Voting Equity Interests of any such Exempted Foreign Entity or Domestic Subsidiary referred to in the foregoing clauses (x) and (y)
constituting more than 66% of the total combined voting power of all Voting Equity Interests of such Exempted Foreign Entity or Domestic Subsidiary, as applicable. 

Section 3.04 Transfer Taxes. Each pledge of Collateral under Section 3.01 or Section 3.03 hereof shall be accompanied by
any transfer tax stamps required in connection with the pledge of such Collateral. 
 Section 3.05 Certain Representations and
Warranties Regarding the Collateral. Each Pledgor represents and warrants that on the date hereof: (i) each Subsidiary of such Pledgor, and the direct ownership thereof, is listed in Annex B hereto, (ii) the Stock (and any warrants or
options to purchase Stock) held directly by such Pledgor (other than Excluded Collateral) consists of the number and type of shares of the Stock (or warrants or options to purchase any Stock) of the corporations as described in Annex C hereto;
(iii) such Stock referenced in clause (ii) of this paragraph constitutes that percentage of the issued and outstanding capital stock of the issuing corporation as is set forth in Annex C hereto; (iv) the Notes held by such Pledgor
consist of the promissory notes described in Annex D hereto where such Pledgor is listed as the 

  
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lender to the extent such Notes are required to be delivered to the Pledgee pursuant to Section 3.02(a)(v) hereof; (v) the Limited Liability Company Interests held directly by such
Pledgor (other than Excluded Collateral) consist of the number and type of interests of the Persons described in Annex E hereto; (vi) each such Limited Liability Company Interest referenced in clause (v) of this paragraph constitutes that
percentage of the issued and outstanding equity interest of the issuing Person as set forth in Annex E hereto; (vii) the Partnership Interests held directly by such Pledgor (other than Excluded Collateral) consist of the number and type of
interests of the Persons described in Annex F hereto; (viii) each such Partnership Interest referenced in clause (vii) of this paragraph constitutes that percentage of the issued and outstanding equity interest of the issuing Person as set
forth in Annex F hereto; (ix) the Pledgor has complied with the respective procedure set forth in Section 3.02(a) hereof with respect to each item of Collateral described in Annexes C through F hereto; and (x) except as set forth on
Annexes C through F hereto, such Pledgor does not directly hold any other Securities, Stock, Limited Liability Company Interests or Partnership Interests other than as set forth on Annex G that constitute Collateral hereunder. 

ARTICLE 4 

APPOINTMENT OF SUB-AGENTS;
ENDORSEMENTS, ETC. 
 The Pledgee shall have the right to appoint one or more
sub-agents for the purpose of retaining physical possession of the Collateral, which may be held (in the discretion of the Pledgee) in the name of the relevant Pledgor, endorsed or assigned in blank or in
favor of the Pledgee or any nominee or nominees of the Pledgee or a sub-agent appointed by the Pledgee. 

ARTICLE 5 
 VOTING,
ETC., WHILE NO EVENT OF DEFAULT. 
 Unless and
until there shall have occurred and be continuing an Event of Default, each Pledgor shall be entitled to exercise any and all voting and other consensual rights pertaining to the Collateral owned by it, and to give consents, waivers or ratifications
in respect thereof; provided that, in each case, no vote shall be cast or any consent, waiver or ratification given or any action taken or omitted to be taken which would violate or result in a breach of any covenant contained in any Secured
Debt Agreement. All such rights of each Pledgor to vote and to give consents, waivers and ratifications shall cease in case an Event of Default has occurred and is continuing, and Article 7 hereof shall become applicable. 

ARTICLE 6 

DIVIDENDS AND OTHER DISTRIBUTIONS 

Unless and until there shall have occurred and be continuing an Event of Default, all cash dividends, cash distributions, cash Proceeds and
other cash amounts payable in respect of the Collateral shall be paid to the respective Pledgor. The Pledgee shall be entitled to receive, and to retain as part of the Collateral: 

(i) all other or additional stock, notes, certificates, limited liability company interests, partnership interests, instruments
or other securities or property (including, but not limited to, cash dividends other than as set forth above) paid or distributed by way of dividend or otherwise in respect of the Collateral; 

(ii) all other or additional stock, notes, certificates, limited liability company interests, partnership interests,
instruments or other securities or property (including, but not limited to, cash (although such cash may be paid directly to the respective Pledgor so long as no Event of Default then exists)) paid or distributed in respect of the Collateral by way
of stock-split, spin-off, split-up, reclassification, combination of shares or similar rearrangement; and 

  
 11 

 (iii) all other or additional stock, notes, certificates, limited liability
company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash) which may be paid in respect of the Collateral by reason of any consolidation, merger, exchange of stock, conveyance of
assets, liquidation or similar corporate or other reorganization. 
 Nothing contained in this Article 6 shall limit or restrict in any way the
Pledgee’s right to receive the proceeds of the Collateral in any form in accordance with Article 3 of this Agreement. All dividends, distributions or other payments which are received by any Pledgor contrary to the provisions of this Article 6
or Article 7 hereof shall be received in trust for the benefit of the Pledgee, shall be segregated from other property or funds of such Pledgor and shall be forthwith paid over to the Pledgee as Collateral in the same form as so received (with any
necessary endorsement). 
 ARTICLE 7 

REMEDIES IN CASE OF AN EVENT OF
DEFAULT 
 If there shall have occurred and be continuing an Event of Default, then and in every such case, the Pledgee shall
be entitled to exercise all of the rights, powers and remedies (whether vested in it by this Agreement, any other Secured Debt Agreement or by law) for the protection and enforcement of its rights in respect of the Collateral, and the Pledgee shall
be entitled to exercise all the rights and remedies of a secured party under the UCC as in effect in any relevant jurisdiction and also shall be entitled, without limitation, to exercise the following rights, which each Pledgor hereby agrees to be
commercially reasonable: 
 (i) to receive all amounts payable in respect of the Collateral otherwise payable under Article 6
hereof to the respective Pledgor; 
 (ii) to transfer all or any part of the Collateral into the Pledgee’s name or the
name of its nominee or nominees; 
 (iii) to accelerate any Pledged Note which may be accelerated in accordance with its
terms, and take any other lawful action to collect upon any Pledged Note (including, without limitation, to make any demand for payment thereon); 

(iv) to vote (and exercise all rights and powers in respect of voting) all or any part of the Collateral (whether or not
transferred into the name of the Pledgee) and give all consents, waivers and ratifications in respect of the Collateral and otherwise act with respect thereto as though it were the outright owner thereof (each Pledgor hereby irrevocably constituting
and appointing the Pledgee the proxy and attorney-in-fact of such Pledgor, with full power of substitution to do so); 

(v) at any time and from time to time to sell, assign and deliver, or grant options to purchase, all or any part of the
Collateral, or any interest therein, at any public or private sale, without demand of performance, advertisement or notice of intention to sell or of the time or place of sale or adjournment thereof or to redeem or otherwise purchase or dispose (all
of which are hereby waived by each Pledgor), for cash, on credit or for other property, for immediate or future delivery without any assumption of credit risk, and for such price or prices and on such terms as the Pledgee in its absolute discretion
may determine, provided at least 10 days’ written notice of the time and place of any such sale shall be given to the respective Pledgor. The Pledgee shall not be obligated to make any such sale of Collateral regardless of whether any
such notice of sale has theretofore been given. Each Pledgor hereby waives and releases to the fullest extent permitted by law any right or equity of redemption with respect to the Collateral, whether before or after sale hereunder, and all rights,
if any, of marshalling the Collateral and any other security or the Secured 

  
 12 

 
Obligations or otherwise. At any such sale, unless prohibited by applicable law, the Pledgee on behalf of the Secured Creditors may bid for and purchase all or any part of the Collateral so sold
free from any such right or equity of redemption. Neither the Pledgee nor any other Secured Creditor shall be liable for failure to collect or realize upon any or all of the Collateral or for any delay in so doing nor shall any of them be under any
obligation to take any action whatsoever with regard thereto. If the Collateral Agent sells any of the Collateral upon credit, the Pledgors will be credited only with payment actually made by the purchaser, received by the Collateral Agent and
applied in accordance with Section 7.04 of the Security Agreement. In the event the purchaser fails to pay for the Collateral, the Collateral Agent may resell the same, subject to the same rights and duties set forth herein.; and 

(vi) to set off any and all Collateral against any and all Secured Obligations, and to withdraw any and all cash or other
Collateral from any and all Collateral Accounts and to apply such cash and other Collateral to the payment of any and all Secured Obligations. 
 Each
Pledgor agrees to do or cause to be done all such other acts and things as may be reasonably necessary to make any such disposition or dispositions of all or any portion of the Collateral valid and binding and in compliance with any and all
applicable laws, regulations, orders, writs, injunctions, decrees or awards of any and all courts, arbitrators or governmental instrumentalities, domestic or foreign, having jurisdiction over any such sale or sales, all at such Pledgor’s
expense. 
 ARTICLE 8 

REMEDIES, CUMULATIVE, ETC. 

Each and every right, power and remedy of the Pledgee provided for in this Agreement or in any other Secured Debt Agreement, or now or
hereafter existing at law or in equity or by statute shall be cumulative and concurrent and shall be in addition to every other such right, power or remedy. The exercise or beginning of the exercise by the Pledgee or any other Secured Creditor of
any one or more of the rights, powers or remedies provided for in this Agreement or any other Secured Debt Agreement or now or hereafter existing at law or in equity or by statute or otherwise shall not preclude the simultaneous or later exercise by
the Pledgee or any other Secured Creditor of all such other rights, powers or remedies, and no failure or delay on the part of the Pledgee or any other Secured Creditor to exercise any such right, power or remedy shall operate as a waiver thereof.
No notice to or demand on any Pledgor in any case shall entitle it to any other or further notice or demand in similar or other circumstances or constitute a waiver of any of the rights of the Pledgee or any other Secured Creditor to any other or
further action in any circumstances without notice or demand. The Secured Creditors agree that this Agreement may be enforced only by the action of the Pledgee, in each case, acting upon the instructions of the Required Secured Creditors, and that
no other Secured Creditor shall have any right individually to seek to enforce or to enforce this Agreement or to realize upon the security to be granted hereby, it being understood and agreed that such rights and remedies may be exercised by the
Pledgee for the benefit of the Secured Creditors upon the terms of this Agreement and the Security Agreement. 
 ARTICLE 9 

APPLICATION OF PROCEEDS 

(a) All monies collected by the Pledgee upon any sale or other disposition of the Collateral pursuant to the terms of this Agreement, together
with all other monies received by the Pledgee hereunder, shall be applied in the manner provided in the Security Agreement. 

  
 13 

 (b) It is understood and agreed that each Pledgor shall remain jointly and severally liable with
respect to its Secured Obligations to the extent of any deficiency between the amount of the proceeds of the Collateral pledged by it hereunder and the aggregate amount of such Secured Obligations. 

ARTICLE 10 

PURCHASERS OF COLLATERAL 

Upon any sale of the Collateral by the Pledgee hereunder (whether by virtue of the power of sale herein granted, pursuant to judicial process
or otherwise), the receipt of the Pledgee or the officer making such sale shall be a sufficient discharge to the purchaser or purchasers of the Collateral so sold, and such purchaser or purchasers shall not be obligated to see to the application of
any part of the purchase money paid over to the Pledgee or such officer or be answerable in any way for the misapplication or nonapplication thereof. 

ARTICLE 11 

INDEMNITY 
 Each
Pledgor jointly and severally agrees to indemnify, reimburse and hold the Collateral Agent, each other Secured Creditor and their respective successors, assigns, employees, affiliates and agents (hereinafter in this Article 11 referred to
individually as “Indemnitee,” and collectively as “Indemnitees”) harmless from any and all liabilities, obligations, damages, injuries, penalties, claims, demands, actions, suits, judgments and any and all
documented costs, expenses or disbursements (but limited, with respect to legal expenses, to the reasonable and documented fees, disbursements and other charges of one single firm of primary counsel, one firm of special counsel and one additional
firm of local counsel for each applicable jurisdiction for all similarly situated Indemnitees) (for the purposes of this Article 11 the foregoing are collectively called “expenses”) of whatsoever kind and nature imposed on, asserted
against or incurred by any of the Indemnitees in any way relating to or arising out of this Agreement, any other Credit Document or any other document executed in connection herewith or therewith or in any other way connected with the administration
of the transactions contemplated hereby or thereby or the enforcement of any of the terms of any thereof, or the preservation of any rights under any thereof, or in any way relating to or arising out of the manufacture, ownership, ordering,
purchase, delivery, control, acceptance, lease, financing, possession, operation, condition, sale, return or other disposition, or use of the Collateral (including, without limitation, latent or other defects, whether or not discoverable); provided
that no Indemnitee shall be indemnified pursuant to this Article 11 for losses, damages or liabilities to the extent caused by the gross negligence, bad faith or willful misconduct of such Indemnitee (as determined by a court of competent
jurisdiction in a final and non-appealable decision). 
 ARTICLE 12 

PLEDGEE NOT A PARTNER OR LIMITED
LIABILITY COMPANY MEMBER 
 (a) Nothing herein shall be construed to make the Pledgee or any
other Secured Creditor liable as a member of any limited liability company or as a partner of any partnership and neither the Pledgee nor any other Secured Creditor by virtue of this Agreement or otherwise (except as referred to in the following
sentence) shall have any of the duties, obligations or liabilities of a member of any limited liability company or as a partner in any partnership. The parties hereto expressly agree that, unless the Pledgee shall become the absolute owner of
Collateral consisting of a Limited Liability Company Interest or a Partnership Interest pursuant hereto, this Agreement shall not be construed as creating a partnership or joint venture among the Pledgee, any other Secured Creditor, any Pledgor
and/or any other Person. 

  
 14 

 (b) Except as provided in the last sentence of paragraph (a) of this Article 12, the
Pledgee, by accepting this Agreement, did not intend to become a member of any limited liability company or a partner of any partnership or otherwise be deemed to be a co-venturer with respect to any Pledgor, any limited liability company,
partnership and/or any other Person either before or after an Event of Default shall have occurred. The Pledgee shall have only those powers set forth herein and the Secured Creditors shall assume none of the duties, obligations or liabilities of a
member of any limited liability company or as a partner of any partnership or any Pledgor except as provided in the last sentence of paragraph (a) of this Article 12. 

(c) The Pledgee and the other Secured Creditors shall not be obligated to perform or discharge any obligation of any Pledgor as a result of the
pledge hereby effected. 
 (d) The acceptance by the Pledgee of this Agreement, with all the rights, powers, privileges and authority so
created, shall not at any time or in any event obligate the Pledgee or any other Secured Creditor to appear in or defend any action or proceeding relating to the Collateral to which it is not a party, or to take any action hereunder or thereunder,
or to expend any money or incur any expenses or perform or discharge any obligation, duty or liability under the Collateral. 
 ARTICLE 13

 FURTHER ASSURANCES; POWER-OF-ATTORNEY 
 (a) Each Pledgor agrees that it will join with the Pledgee in executing and,
at such Pledgor’s own expense, file and refile under the UCC or other applicable law such financing statements, continuation statements and other documents, in form reasonably acceptable to the Pledgee, in such offices as the Pledgee (acting on
its own or on the instructions of the Required Secured Creditors) may reasonably deem necessary or appropriate and wherever required or permitted by law in order to perfect, preserve, confirm or validate the Pledgee’s security interest in the
Collateral hereunder and hereby authorizes the Pledgee to file financing statements and amendments thereto relative to all or any part of the Collateral (including, without limitation, financing statements which list the Collateral specifically
and/or “all assets” or similar description, as collateral) without the signature of such Pledgor where permitted by law, and agrees to do such further acts and things and to execute and deliver to the Pledgee such additional conveyances,
assignments, agreements and instruments as the Pledgee may reasonably require or deem advisable to carry into effect the purposes of this Agreement or to further assure and confirm unto the Pledgee and enable the Pledgee to exercise and enforce any
of its rights, powers and remedies hereunder or thereunder. 
 (b) Each Pledgor hereby constitutes and appoints the Pledgee its true and
lawful attorney-in-fact, irrevocably, with full authority in the place and stead of such Pledgor and in the name of such Pledgor or otherwise, for the sole benefit of
the Secured Creditors, but at the Pledgors’ expense, at any time and from time to time after the occurrence of and during the continuance of an Event of Default, in the Pledgee’s discretion, to act, require, demand, sue for, collect,
receive, compound and give acquittance for any and all monies and claims for monies due or to become due to such Pledgor under or arising out of the Collateral, to endorse any checks or other instruments or orders in connection therewith and to file
any claims or take any action or institute, settle, compromise, compound or defend any proceedings and to execute any instrument which the Pledgee may reasonably deem necessary or advisable to accomplish the purposes of this Agreement, to sell,
lease, license or otherwise dispose of any Collateral or the proceeds or avails thereof, as fully and effectually as if the Pledgee were the absolute owner thereof, to extend the time of payment of any or all thereof and to make any allowance or
other adjustment with reference thereto, which appointment as attorney is coupled with an interest. 

  
 15 

 ARTICLE 14 

THE PLEDGEE AS COLLATERAL AGENT 

(a) The Pledgee will hold in accordance with this Agreement all items of the Collateral at any time received under this Agreement. It is
expressly understood, acknowledged and agreed by each Secured Creditor that by accepting the benefits of this Agreement each such Secured Creditor acknowledges and agrees that the obligations of the Pledgee as holder of the Collateral and interests
therein and with respect to the disposition thereof, and otherwise under this Agreement, are only those expressly set forth in this Agreement and in Article 8 of the Credit Agreement. The Pledgee shall act hereunder on the terms and conditions set
forth herein and in Article 8 of the Credit Agreement. 
 (b) The provisions of Article 8 of the Credit Agreement shall inure to the benefit
of the Pledgee, and shall be binding upon all Pledgors and all Secured Parties, in connection with this Agreement and the other Secured Debt Agreements. Without limiting the generality of the foregoing, (i) the Pledgee shall not be subject to
any fiduciary or other implied duties, regardless of whether an Event of Default has occurred and is continuing, (ii) 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 the Secured Debt Agreements that the Pledgee is required in writing to exercise by the Required Lenders (or such other number or percentage of the Lenders as shall be necessary under the
circumstances as provided in Section 9.08 of the Credit Agreement), and except as expressly set forth in the Credit Documents, the Pledgee shall not have any duty to disclose, and shall not be liable for any failure to disclose, any information
relating to any Pledgor that is communicated to or obtained by the bank serving as Pledgee or any of its Affiliates in any capacity. The Pledgee shall not be responsible for the existence, genuineness or value of any Collateral or for the validity,
perfection, priority or enforceability of any security interest granted herein, whether impaired by operation of law or by reason of any action or omission to act on its part under the Secured Debt Agreements. The Pledgee shall be deemed not to have
knowledge of any Event of Default unless and until written notice thereof is given to the Pledgee by the Borrower or a Secured Creditor. 

(c) Sub-Agents and Related Parties. The Pledgee may perform any of its duties and exercise any
of its rights and powers through one or more sub-agents appointed by it. The Pledgee and any such sub-agent may perform any of its duties and exercise any of its rights
and powers through its Related Parties. The exculpatory provisions of Article 31 and this Article 14 shall apply to any such sub-agent and to the Related Parties of the Pledgee and any such sub-agent. 
 (d) Information as to Secured Obligations and Actions by Secured Creditors. For all
purposes of the Secured Debt Agreements, including determining the amounts of the Secured Obligations, or whether any action has been taken under any Secured Debt Agreement, the Pledgee will be entitled to rely on information from (i) its own
records for information as to the Secured Creditors, their Secured Obligations and actions taken by them, (ii) any Secured Creditor for information as to its Secured Obligations and actions taken by it, to the extent that the Pledgee has not
obtained such information from its own records, and (iii) the Borrower, to the extent that the Pledgee has not obtained information from the foregoing sources. 

(e) Refusal to Act. The Pledgee may refuse to act on any notice, consent, direction or instruction from any Secured Creditor or any
agent, trustee or similar representative thereof that, in the Pledgee’s opinion, (i) is contrary to law or the provisions of any Secured Debt Agreement, (ii) may expose the Pledgee to liability (unless the Pledgee shall have been
indemnified, to its reasonable satisfaction, for such liability by the Secured Creditors that gave such notice, consent, direction or instruction) or (iii) is unduly prejudicial to Secured Creditors not joining in such notice, consent,
direction or instruction. 

  
 16 

 ARTICLE 15 

TRANSFER BY THE PLEDGORS 

Except as permitted (i) prior to the date all Credit Document Obligations have been paid in full in cash and all Commitments and Letters
of Credit under the Credit Agreement have been terminated, pursuant to the Credit Agreement, and (ii) thereafter, pursuant to any Secured Hedging Agreement, no Pledgor will sell or otherwise dispose of, grant any option with respect to, or
mortgage, pledge or otherwise encumber any of the Collateral or any interest therein. 
 ARTICLE 16 

REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE
PLEDGORS 
 (a) Each Pledgor represents, warrants and covenants as to itself and each of its Subsidiaries that, as of the
date hereof: 
 (i) it is the legal, beneficial and record owner of, and has good and marketable title to, all of its
material Collateral consisting of one or more Securities, Partnership Interests and Limited Liability Company Interests and that it has sufficient interest in all of its Collateral in which a security interest is purported to be created hereunder
for such security interest to attach (in each case, free and clear of any pledge, lien, mortgage, hypothecation, security interest, charge, option, Adverse Claim or other encumbrance whatsoever, except the liens and security interests, created by
this Agreement or permitted in respect of the Collateral under the Secured Debt Agreements); 
 (ii) it has full power,
authority and legal right to pledge all the Collateral pledged by it pursuant to this Agreement and, except as would not reasonably be expected to have a Material Adverse Effect, it is duly organized, validly existing and in good standing under the
laws of its jurisdiction of organization; 
 (iii) this Agreement has been duly authorized, executed and delivered by such
Pledgor and constitutes a legal, valid and binding obligation of such Pledgor enforceable against such Pledgor in accordance with its terms, except to the extent that the enforceability hereof may be limited by applicable bankruptcy, insolvency,
reorganization, moratorium or other similar laws affecting creditors’ rights generally and by general equitable principles (regardless of whether enforcement is sought by proceedings in equity or at law); 

(iv) except to the extent already obtained or made, no consent of any other party (including, without limitation, any
stockholder, partner, member or creditor of such Pledgor or any of its Subsidiaries) and no order, consent, license, permit, approval or authorization or validation of, exemption by, notice or report to, or registration, filing or declaration with,
any governmental authority is required to be obtained by such Pledgor in connection with (a) the execution, delivery or performance of this Agreement by such Pledgor, (b) the validity or enforceability of this Agreement against such
Pledgor (except as set forth in clause (iii) above), (c) the perfection or enforceability of the Pledgee’s security interest in such Pledgor’s Collateral or (d) except for compliance with or as may be required by applicable
securities laws, the exercise by the Pledgee of any of its rights or remedies provided herein; 
 (v) neither the execution,
delivery or performance by such Pledgor of this Agreement or any other Secured Debt Agreement to which it is a party, nor compliance by it with the terms and provisions hereof and thereof nor the consummation of the transactions contemplated
therein: (x) except as would not reasonably be expected to have a Material Adverse Effect, will contravene any provision of any applicable law, statute, rule or regulation, or any applicable order, writ, injunction or decree of any court,
arbitrator or governmental instrumentality, domestic or foreign, applicable to such Pledgor; (y) except as would not reasonably be expected to have a Material Adverse Effect, will conflict with or result in any breach of any of the terms,
covenants, conditions or provisions of, or constitute a default under, or result in the creation or imposition of (or the obligation to create or impose) any Lien (except pursuant to the Security Documents) upon any of

  
 17 

 
the properties or assets of such Pledgor or any of its Subsidiaries pursuant to the terms of any indenture, lease, mortgage, deed of trust, credit agreement, loan agreement or any other material
agreement, contract or other instrument to which such Pledgor or any of its Subsidiaries is a party or is otherwise bound, or by which it or any of its properties or assets is bound or to which it may be subject; or (z) will violate any
provision of the certificate of incorporation, by-laws, certificate of partnership, partnership agreement, certificate of formation or limited liability company agreement (or equivalent organizational
documents), as the case may be, of such Pledgor or any of its Subsidiaries; 
 (vi) all of such Pledgor’s Collateral
(consisting of Securities, Limited Liability Company Interests and Partnership Interests) has been duly and validly issued, is fully paid and non-assessable (except as such rights may arise under mandatory
provisions of applicable statutory law that may not be waived or otherwise agreed and not as a result of any rights contained in any organizational document) and is subject to no options to purchase or similar rights; 

(vii) [Reserved]; 

(viii) the pledge, collateral assignment and delivery to the Pledgee of such Pledgor’s Collateral consisting of
Certificated Securities and Pledged Notes pursuant to this Agreement creates a valid and perfected first priority security interest in such Certificated Securities and Pledged Notes, and the proceeds thereof, subject to no prior Lien or encumbrance
or to any agreement purporting to grant to any third party a Lien or encumbrance on the property or assets of such Pledgor which would include the Securities (other than the liens and security interests permitted under the Secured Debt Agreements
then in effect) and the Pledgee is entitled to all the rights, priorities and benefits afforded by the UCC or other relevant law as enacted in any relevant jurisdiction to perfect security interests in respect of such Collateral; and 

(ix) “control” (as defined in Section 8-106 of the UCC) has been
obtained by the Pledgee over all of such Pledgor’s Collateral consisting of Securities (including, without limitation, Notes which are Securities, but excluding any Security Entitlement) with respect to which such “control” may be
obtained pursuant to Section 8-106 of the UCC, except to the extent that the obligation of the applicable Pledgor to provide the Pledgee with “control” of such Collateral has not yet arisen
under this Agreement. 
 (b) Each Pledgor covenants and agrees that it will defend the Pledgee’s right, title and security interest in
and to such Pledgor’s Collateral and the proceeds thereof against the claims and demands of all persons whomsoever; and each Pledgor covenants and agrees that it will have like title to and right to pledge any other property at any time
hereafter pledged to the Pledgee by such Pledgor as Collateral hereunder and will likewise defend the right thereto and security interest therein of the Pledgee and the other Secured Creditors. 

(c) No Pledgor has performed any acts that might prevent the Pledgee from enforcing any of the provisions of this Agreement. Each Pledgor will,
promptly upon request, provide to the Pledgee all information and evidence concerning such Pledgor’s Collateral that the Pledgee may reasonably request from time to time to enable it to enforce the provisions of this Agreement. 

(d) In the case of each Pledgor which is an issuer of Collateral, such Pledgor agrees to be bound by the terms of this Agreement relating to
the Collateral issued by it and will comply with such terms insofar as such terms are applicable to it. 

  
 18 

 (e) In the case of each Pledgor which is a partner, member or equity holder, as the case may be,
in a partnership, limited liability company or other entity, such Pledgor hereby consents to the extent required by the applicable partnership agreement, limited liability company agreement, or other organizational document to the pledge by each
other Pledgor, pursuant to the terms hereof, of the Partnership Interests, Limited Liability Company Interests or other Collateral in such partnership, limited liability company or other entity and, upon the occurrence and during the continuance of
an Event of Default, to the transfer of such Partnership Interests, Limited Liability Company Interests or other Collateral to the Pledgee or its nominee and to the substitution of the Pledgee or its nominee as a substituted partner, equity holder
or member of such partnership, limited liability company or other entity with all the rights, powers and duties of a general partner, limited partner, member or equity holder, as the case may be. 

ARTICLE 17 

[RESERVED] 
 ARTICLE
18 
 PLEDGORS’ OBLIGATIONS ABSOLUTE, ETC. 

The obligations of each Pledgor under this Agreement shall be absolute and unconditional and shall remain in full force and effect without
regard to, and shall not be released, suspended, discharged, terminated or otherwise affected by, any circumstance or occurrence whatsoever (other than termination of this Agreement pursuant to Article 20 hereof), including, without limitation: 

(i) any renewal, extension, amendment or modification of, or addition or supplement to or deletion from, any Secured Debt
Agreement (other than this Agreement in accordance with its terms), or any other instrument or agreement referred to therein, or any assignment or transfer of any thereof; 

(ii) any waiver, consent, extension, indulgence or other action or inaction under or in respect of any such agreement or
instrument including, without limitation, this Agreement (other than a waiver, consent or extension with respect to this Agreement in accordance with its terms); 

(iii) any furnishing of any additional security to the Pledgee or its assignee or any acceptance thereof or any release of any
security by the Pledgee or its assignee; 
 (iv) any limitation on any party’s liability or obligations under any such
instrument or agreement or any invalidity or unenforceability, in whole or in part, of any such instrument or agreement or any term thereof; or 

(v) any bankruptcy, insolvency, reorganization, composition, adjustment, dissolution, liquidation or other like proceeding
relating to any Pledgor or any Subsidiary of any Pledgor, or any action taken with respect to this Agreement by any trustee or receiver, or by any court, in any such proceeding, whether or not such Pledgor shall have notice or knowledge of any of
the foregoing. 

  
 19 

 ARTICLE 19 

SALE OF COLLATERAL WITHOUT REGISTRATION 

(a) If an Event of Default shall have occurred and be continuing and any Pledgor shall have received from the Pledgee a written request or
requests that such Pledgor cause any registration, qualification or compliance under any federal or state securities law or laws to be effected with respect to all or any part of the Collateral consisting of Securities, Limited Liability Company
Interests or Partnership Interests, such Pledgor as soon as practicable and at its expense will use commercially reasonable efforts to cause such registration to be so effected (and be kept effective) and will use commercially reasonable efforts to
cause such qualification and compliance to be effected (and be kept effective) as may be so requested and as would permit or facilitate the sale and distribution of such Collateral consisting of Securities, Limited Liability Company Interests or
Partnership Interests, including, without limitation, registration under the Securities Act, as then in effect (or any similar statute then in effect), appropriate qualifications under applicable blue sky or other state securities laws and
appropriate compliance with any other governmental requirements; provided, that the Pledgee shall furnish to such Pledgor such information regarding the Pledgee as such Pledgor may request in writing and as shall be required in connection
with any such registration, qualification or compliance. Each Pledgor will cause the Pledgee to be kept reasonably advised in writing as to the progress of each such registration, qualification or compliance and as to the completion thereof, will
furnish to the Pledgee such number of prospectuses, offering circulars and other documents incident thereto as the Pledgee from time to time may reasonably request, and will indemnify, to the extent permitted by law, the Pledgee and all other
Secured Creditors participating in the distribution of such Collateral consisting of Securities, Limited Liability Company Interests or Partnership Interests against all claims, losses, damages and liabilities caused by any untrue statement (or
alleged untrue statement) of a material fact contained therein (or in any related registration statement, notification or the like) or by any omission (or alleged omission) to state therein (or in any related registration statement, notification or
the like) a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as the same may have been caused by an untrue statement or omission based upon information furnished in writing to
such Pledgor by the Pledgee or such other Secured Creditor expressly for use therein. 
 (b) If at any time when the Pledgee shall determine
to exercise its right to sell all or any part of the Collateral consisting of Securities, Limited Liability Company Interests or Partnership Interests pursuant to Article 7 hereof, and such Collateral or the part thereof to be sold shall not, for
any reason whatsoever, be effectively registered under the Securities Act as then in effect, the Pledgee may, in its sole and absolute discretion, sell such Collateral or part thereof by private sale in such manner and under such circumstances as
the Pledgee may deem necessary or advisable in order that such sale may legally be effected without such registration. Without limiting the generality of the foregoing, in any such event the Pledgee, in its sole and absolute discretion (i) may
proceed to make such private sale notwithstanding that a registration statement for the purpose of registering such Collateral or part thereof shall have been filed under such Securities Act, (ii) may approach and negotiate with a single
possible purchaser to effect such sale, and (iii) may restrict such sale to a purchaser who will represent and agree that such purchaser is purchasing for its own account, for investment, and not with a view to the distribution or sale of such
Collateral or part thereof. In the event of any such sale, the Pledgee shall incur no responsibility or liability for selling all or any part of the Collateral at a price which the Pledgee, in its sole and absolute discretion, may in good faith deem
reasonable under the circumstances, notwithstanding the possibility that a substantially higher price might be realized if the sale were deferred until the registration as aforesaid. 

ARTICLE 20 

TERMINATION; RELEASE. 

(a) On the Termination Date (as defined below), this Agreement shall terminate (provided that all indemnities set forth herein including,
without limitation, in Article 11 hereof shall survive any such termination) and the Pledgee, at the request and expense of such Pledgor, will execute and deliver to such Pledgor a proper instrument or instruments acknowledging the satisfaction and
termination of this Agreement (including, without limitation, UCC-3 termination statements and instruments of satisfaction, discharge and/or reconveyance), and will duly release from the security interest
created hereby and assign, transfer and deliver to such Pledgor (without recourse and without any representation or warranty) such of the Collateral as may be in the possession of the Pledgee and as has not theretofore been sold or otherwise

  
 20 

 
applied or released pursuant to this Agreement, together with any moneys at the time held by the Pledgee or any of its sub-agents hereunder and, with
respect to any Collateral consisting of an Uncertificated Security, a Partnership Interest or a Limited Liability Company Interest (other than an Uncertificated Security, Partnership Interest or Limited Liability Company Interest credited on the
books of a Clearing Corporation or Securities Intermediary), a termination of the agreement relating thereto executed and delivered by the issuer of such Uncertificated Security pursuant to Section 3.02(a)(ii) or by the respective partnership
or limited liability company pursuant to Section 3.02(a)(iv)(2). As used in this Agreement, “Termination Date” shall mean the date upon which the Commitments under the Credit Agreement have been terminated, no Note (as defined
in the Credit Agreement) is outstanding (and all Loans have been repaid in full in cash), all Letters of Credit issued under the Credit Agreement have been terminated (or fully cash collateralized and/or backstopped by one or more letters of
credit), and all other Secured Obligations (other than Other Obligations and indemnities described in Article 11 hereof, described in Section 8 of the Security Agreement and described in Section 9.05 of the Credit Agreement, and any other
indemnities set forth in any other Security Documents, in each case which are not then due and payable) then due and payable have been paid in full in cash. 

(b) In the event that any part of the Collateral (i) is or becomes Excluded Collateral, (ii) is sold or otherwise disposed of (to a
Person other than a Credit Party) at any time prior to the Termination Date, in connection with a sale or disposition not prohibited by the Credit Agreement and the proceeds from such sale or disposition ) are applied in accordance with the terms of
the Credit Agreement or such other applicable Secured Debt Agreement, as the case may be, to the extent required to be so applied or (iii) is otherwise released at the direction of the Required Lenders (or such other number or percentage of the
Lenders as shall be necessary under the circumstances as provided in Section 9.08 of the Credit Agreement), in each case, such Collateral shall be automatically released from the security interest created hereby and, at the request and expense
of such Pledgor, the Pledgee will execute and deliver such documentation, including termination or partial release statements and the like requested by such Pledgor in connection therewith) and assign, transfer and deliver to such Pledgor (without
recourse and without any representation or warranty) such of the Collateral that has become Excluded Collateral or as is then being (or has been) so sold or otherwise disposed of, or released, and as may be in the possession of the Pledgee (or, in
the case of Collateral held by any sub-agent designated pursuant to Article 4 hereto, such subagent) and has not theretofore been released pursuant to this Agreement. Furthermore, upon the release of any
Subsidiary Guarantor from the Subsidiaries Guaranty in accordance with the provisions thereof, any such Subsidiary Guarantor that is a Pledgor (and the Collateral at such time assigned by the respective Pledgor pursuant hereto) shall be released
from this Agreement without any further action hereunder and the Pledgee is authorized and directed to execute and deliver such instruments of release as provided in this Section 11.08(b). 

(c) At any time that any Pledgor desires that Collateral be released as provided in the foregoing Article 20(a) or (b), it shall deliver to the
Pledgee (and the relevant sub-agent, if any, designated pursuant to Article 4 hereof) a certificate signed by an authorized officer of such Pledgor stating that the release of the respective Collateral is
permitted pursuant to Article 20(a) or (b) hereof. 
 (d) The Pledgee shall have no liability whatsoever to any other Secured Creditor
as the result of any release of Collateral by it in accordance with (or which the Pledgee in good faith believes to be in accordance with) this Article 20. 

  
 21 

 ARTICLE 21 

NOTICES, ETC. 

Each notice, request or other communication given hereunder shall be given in accordance with Section 9.01 of the Credit Agreement and
shall be addressed, (a) if to the Borrower, the Pledgee or any other Lender Creditor, to such address as such Person shall have specified in the Credit Agreement, (b) if to any Pledgor other than the Borrower, in the care of the Borrower
to such address as the Borrower shall have specified in the Credit Agreement and (c) if to any Other Creditor, to such address as such Other Creditor shall have specified in writing to the Borrower and the Collateral Agent or, in each case to
such other address or addressed to such other individual as shall have been furnished in writing by any Person described above to the party required to give notice hereunder. 

ARTICLE 22 
 WAIVER;
AMENDMENT 
 Except as provided in Articles 20 and 30 hereof, none of the terms and conditions of this Agreement may be
changed, waived, modified or varied in any manner whatsoever except in accordance with the requirements specified in the Credit Agreement. 

ARTICLE 23 

SUCCESSORS AND ASSIGNS 

This Agreement shall create a continuing security interest in the Collateral and shall (i) remain in full force and effect, subject to
release and/or termination as set forth in Article 20, (ii) be binding upon each Pledgor, its successors and assigns; provided, however, that no Pledgor shall assign any of its rights or obligations hereunder without the prior written
consent of the Pledgee (with the prior written consent of the Required Secured Creditors), and (iii) inure, together with the rights and remedies of the Pledgee hereunder, to the benefit of the Pledgee, the other Secured Creditors and their
respective successors, transferees and assigns. All agreements, statements, representations and warranties made by each Pledgor herein or in any certificate or other instrument delivered by such Pledgor or on its behalf under this Agreement shall be
considered to have been relied upon by the Secured Creditors and shall survive the execution and delivery of this Agreement and the other Secured Debt Agreements regardless of any investigation made by the Secured Creditors or on their behalf. 

ARTICLE 24 

HEADINGS DESCRIPTIVE 

The headings of the several Sections of this Agreement are inserted for convenience only and shall not in any way affect the meaning or
construction of any provision of this Agreement. 
 ARTICLE 25 

GOVERNING LAW; SUBMISSION TO JURISDICTION; VENUE;
WAIVER OF JURY TRIAL 
 (a) THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE
PARTIES HEREUNDER SHALL BE CONSTRUED IN ACCORDANCE WITH AND BE GOVERNED BY THE LAW OF THE STATE OF NEW YORK. EACH PLEDGOR HEREBY IRREVOCABLY AND UNCONDITIONALLY SUBMITS, FOR ITSELF AND ITS PROPERTY, TO THE EXCLUSIVE JURISDICTION OF ANY NEW YORK
STATE COURT OR FEDERAL COURT OF THE UNITED STATES OF AMERICA SITTING IN NEW YORK CITY, AND ANY APPELLATE COURT FROM ANY THEREOF, IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE OTHER CREDIT 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 SUCH NEW YORK STATE OR, TO THE EXTENT
PERMITTED BY LAW, IN SUCH FEDERAL COURT; PROVIDED THAT SUIT FOR THE RECOGNITION OR ENFORCEMENT OF ANY JUDGMENT OBTAINED IN 

  
 22 

 
ANY SUCH NEW YORK STATE OR FEDERAL COURT MAY BE BROUGHT IN ANY OTHER COURT OF COMPETENT JURISDICTION. 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 THE PLEDGEE OR ANY OTHER SECURED CREDITOR MAY OTHERWISE HAVE TO
BRING ANY ACTION OR PROCEEDING RELATING TO THIS AGREEMENT OR THE OTHER CREDIT DOCUMENTS AGAINST ANY PLEDGOR OR ITS PROPERTIES IN THE COURTS OF ANY JURISDICTION. 

(b) EACH PLEDGOR HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT IT MAY LEGALLY AND EFFECTIVELY DO SO, ANY OBJECTION WHICH
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 THE OTHER CREDIT DOCUMENTS IN ANY NEW YORK STATE OR FEDERAL COURT. EACH OF THE PARTIES HERETO HEREBY 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 PARTY TO THIS AGREEMENT IRREVOCABLY CONSENTS TO SERVICE OF PROCESS IN THE MANNER PROVIDED
FOR NOTICES IN ARTICLE 21. NOTHING IN THIS AGREEMENT WILL AFFECT THE RIGHT OF ANY PARTY TO THIS AGREEMENT TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY LAW. 

(c) EACH OF THE PARTIES TO THIS AGREEMENT HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE
TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT OR ANY OF THE OTHER CREDIT DOCUMENTS. EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF
ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO
THIS AGREEMENT AND THE OTHER CREDIT DOCUMENTS, AS APPLICABLE, BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS ARTICLE 25. 

ARTICLE 26 

PLEDGOR’S DUTIES 

It is expressly agreed, anything herein contained to the contrary notwithstanding, that each Pledgor shall remain liable to perform all of the
obligations, if any, assumed by it with respect to the Collateral and the Pledgee shall not have any obligations or liabilities with respect to any Collateral by reason of or arising out of this Agreement, except for the safekeeping of Collateral
actually in Pledgee’s possession, nor shall the Pledgee be required or obligated in any manner to perform or fulfill any of the obligations of any Pledgor under or with respect to any Collateral. 

ARTICLE 27 

COUNTERPARTS 
 This
Agreement may be executed in any number of counterparts (including by facsimile or electronic transmission) and by the different parties hereto on separate counterparts, each of which when so executed and delivered shall be an original, but all of
which shall together constitute one and the same instrument. A set of counterparts executed by all the parties hereto shall be lodged with each Pledgor and the Pledgee. 

  
 23 

 ARTICLE 28 

SEVERABILITY 
 Any
provision of this Agreement which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any
such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. 

ARTICLE 29 

RECOURSE 
 This
Agreement is made with full recourse to each Pledgor and pursuant to and upon all the representations, warranties, covenants and agreements on the part of such Pledgor contained herein and in the other Secured Debt Agreements and otherwise in
writing in connection herewith or therewith. 
 ARTICLE 30 

ADDITIONAL PLEDGORS 

It is understood and agreed that any Subsidiary of the Borrower that is required to become a party to this Agreement after the date hereof
pursuant to the requirements of the Credit Agreement or any other Secured Debt Agreement, shall become a Pledgor hereunder by (x) executing a counterpart hereof and delivering same to the Pledgee or executing an assumption agreement and
delivering same to the Pledgee, in each case as may be required by (and in form and substance reasonably satisfactory to) the Pledgee, (y) delivering supplements to Annexes A through G, hereto as are necessary to cause such annexes to be
complete and accurate with respect to such additional Pledgor on such date and (z) taking all actions as specified in this Agreement as would have been taken by such Pledgor had it been an original party to this Agreement, in each case with all
documents required above to be delivered to the Pledgee and with all documents and actions required above to be taken to the reasonable satisfaction of the Pledgee. 

ARTICLE 31 
 LIMITED
OBLIGATIONS 
 It is the desire and intent of each Pledgor and the Secured Creditors that this Agreement shall be enforced
against each Pledgor to the fullest extent permissible under the laws applied in each jurisdiction in which enforcement is sought. 

Notwithstanding anything to the contrary contained herein, in furtherance of the foregoing, it is noted that the obligations of each Pledgor
constituting a Subsidiary Guarantor have been limited as provided in the Subsidiaries Guaranty. 
 Beyond the exercise of reasonable care in
the custody and preservation thereof, the Pledgee will have no duty as to any Collateral in its possession or control or in the possession or control of any agent or bailee or any income therefrom or as to the preservation of rights against prior
parties or any other rights pertaining thereto. The Pledgee will be deemed to have exercised reasonable care in the custody and preservation of the Collateral in its possession or control if such Collateral is accorded treatment substantially equal
to that which it accords its own property, and will not be liable or responsible for any loss or damage to any Collateral, or for any diminution in the value thereof, by reason of any act or omission of any agent or bailee selected by the Pledgee in
good faith, except to the extent that such liability arises from the Pledgee’s gross negligence or willful misconduct. 

  
 24 

 ARTICLE 32 

[RESERVED] 
 ARTICLE
33 
 BROKER DEALER COMPLIANCE 

Notwithstanding anything to the contrary contained herein or in any other Credit Document, no party hereto shall take any actions hereunder
that would constitute or result in a transfer or assignment of any Broker-Dealer Subsidiary or any Equity Interests of a Broker-Dealer Subsidiary, or a change of control over such Broker-Dealer Subsidiary, requiring the application to and/or prior
approval of FINRA or any other Regulatory Supervising Organization without first making such application and/or obtaining such prior approval, to the extent required, of FINRA or such Regulatory Supervising Organization. 

Without limiting the obligations of any party under Section 3.02(b)(iii), if an Event of Default shall have occurred and be continuing
and the Pledgee shall have notified the Borrower that it intends to enforce its rights under Article 7, the Pledgee is empowered to seek from FINRA or any other Regulatory Supervising Organization, to the extent required, consent to or approval of
any involuntary transfer of control of any entity whose Collateral is subject to this Agreement for the purpose of seeking a bona fide purchaser to whom control ultimately will be transferred. Each Pledgor agrees to cooperate with any such purchaser
and with the Pledgee in the preparation, execution and filing of any forms and providing any information that may be necessary in obtaining such consent to the assignment to such purchaser of the Collateral. Each Pledgor hereby agrees to consent to
any such voluntary or involuntary transfer after and during the continuation of an Event of Default and following delivery by the Pledgee of the notice described above, as long as not revoked or rescinded. Each Pledgor shall cooperate fully in
obtaining the consent of FINRA and the approval or consent of each other Regulatory Supervising Organization required to effectuate the foregoing. 

ARTICLE 34 

INTERCREDITOR AGREEMENTS GOVERN 

NOTWITHSTANDING ANYTHING HEREIN TO THE CONTRARY, THE LIENS AND SECURITY INTERESTS GRANTED TO THE COLLATERAL AGENT FOR THE BENEFIT OF THE SECURED CREDITORS
PURSUANT TO THIS AGREEMENT AND THE EXERCISE OF ANY RIGHT OR REMEDY BY THE COLLATERAL AGENT WITH RESPECT TO ANY COLLATERAL HEREUNDER ARE SUBJECT TO THE PROVISIONS OF EACH INTERCREDITOR AGREEMENT. IN THE EVENT OF ANY CONFLICT BETWEEN THE PROVISIONS OF
ANY INTERCREDITOR AGREEMENT AND THIS AGREEMENT, THE PROVISIONS OF SUCH INTERCREDITOR AGREEMENT SHALL GOVERN AND CONTROL. THE REQUIREMENTS OF THIS AGREEMENT TO DELIVER PLEDGED COLLATERAL AND ANY CERTIFICATES, INSTRUMENTS OR DOCUMENTS IN RELATION
THERETO TO THE COLLATERAL AGENT OR ANY OBLIGATION WITH RESPECT TO THE DELIVERY, TRANSFER, CONTROL, NOTATION OR PROVISION OF VOTING RIGHTS WITH RESPECT TO ANY COLLATERAL SHALL BE DEEMED SATISFIED BY THE DELIVERY, TRANSFER, CONTROL, NOTATION OR
PROVISION IN FAVOR OF THE PARTY SPECIFIED IN THE APPLICABLE INTERCREDITOR AGREEMENT. 

  
 25 

 ARTICLE 35 

AMENDMENT AND RESTATEMENT 

This Agreement constitutes for all purposes an amendment and restatement of the Existing Pledge Agreement. The Existing Pledge Agreement, as amended and
restated hereby, continues in full force and effect as so amended and restated by this Agreement. Nothing contained in this Agreement shall constitute or be construed as a novation of any of the Secured Obligations. 

  
 26 

 IN WITNESS WHEREOF, each Pledgor and the Pledgee have caused this Agreement to be executed by their duly elected
officers duly authorized as of the date first above written. 
  

			
	DITECH HOLDING CORPORATION
	DITECH FINANCIAL LLC
	GREEN TREE CREDIT SOLUTIONS LLC
	GREEN TREE SERVICING CORP.
	WALTER MANAGEMENT HOLDING COMPANY LLC
	DF INSURANCE AGENCY LLC
	GREEN TREE INVESTMENT HOLDINGS III LLC
	GREEN TREE INSURANCE AGENCY OF NEVADA, INC.,
	each as a Pledgor
		
	By:	 	  

		 	Name: Cheryl A. Collins
		 	Title: Senior Vice President and Treasurer
	
	WALTER REVERSE ACQUISITION LLC, as a Pledgor
		
	By:	 	  

		 	Name: Cheryl A. Collins
		 	Title: Treasurer
	
	GREEN TREE CREDIT LLC, as a Pledgor
		
	By:	 	  

		 	Name: Anthony Renzi
		 	Title: President and Treasurer
	
	MORTGAGE ASSET SYSTEMS, LLC
	REO MANAGEMENT SOLUTIONS, LLC, each as a Pledgor
		
	By:	 	  

		 	Name: Jeffery Baker
		 	Title: President
	
	REVERSE MORTGAGE SOLUTIONS, INC., as a Pledgor
		
	By:	 	  

		 	Name: Cheryl A. Collins
		 	Title: Senior Vice President

 [Signature Page to Amended and Restated First Lien Pledge Agreement] 

			
	 Accepted and Agreed to:
  

CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, as Pledgee

		
	By:	 	  

		 	Name:
		 	Title:
		
	By:	 	  

		 	Name:
		 	Title:

 [Signature Page to Amended and Restated First Lien Pledge Agreement] 

 ANNEX A 

[Reserved] 

  
 1 

 ANNEX B 

Note: Borrower holds a 100% (direct or indirect) ownership interest in each of the Subsidiaries listed below. Each direct owner of each of the Subsidiaries
set forth below holds a 100% ownership interest in each such Subsidiary, unless otherwise indicated. 
  

			
	 Subsidiary
	  	 Direct
Owner

		
	Mid-State Capital, LLC	  	Ditech Holding Corporation
		
	Green Tree Credit Solutions LLC	  	Ditech Holding Corporation
		
	DF Insurance Agency LLC	  	Green Tree Credit Solutions LLC
		
	2013 WCO Holdings Corp.	  	Ditech Holding Corporation
		
	Hanover SPC-A, Inc.	  	Ditech Holding Corporation
		
	Green Tree Advance Receivables II LLC	  	Ditech Financial LLC
		
	Green Tree Advance Receivables III LLC	  	Ditech Financial LLC
		
	Green Tree Insurance Agency of Nevada, Inc.	  	Green Tree Credit Solutions LLC
		
	Green Tree Investment Holdings III LLC	  	Green Tree Credit Solutions LLC
		
	Walter Management Holding Company LLC	  	Green Tree Credit Solutions LLC
		
	Green Tree Servicing Corp.	  	Walter Management Holding Company LLC
		
	Green Tree Credit LLC	  	Walter Management Holding Company LLC
		
	Ditech Financial LLC	  	Walter Management Holding Company LLC
		
	WIMC Real Estate Investment LLC	  	Ditech Holding Corporation
		
	Walter Reverse Acquisition LLC	  	Ditech Holding Corporation

  
 2 

			
	 Subsidiary
	  	 Direct
Owner

		
	Mortgage Asset Systems, LLC	  	Reverse Mortgage Solutions, Inc.
		
	REO Management Solutions, LLC	  	Reverse Mortgage Solutions, Inc.
		
	RMS REO BRC, LLC	  	Reverse Mortgage Solutions, Inc.
		
	RMS REO CS, LLC	  	Reverse Mortgage Solutions, Inc.
		
	Reverse Mortgage Solutions, Inc.	  	Walter Reverse Acquisition LLC
		
	Ditech Agency Advance Depositor LLC	  	Ditech Financial LLC
		
	Ditech PLS Advance Depositor LLC	  	Ditech Financial LLC

  
 3 

 ANNEX C 
  

																							
	 Name of Issuing Corporation
	  	Record/owner	  	Type of Shares	 	  	Number of Shares
Issued and
Outstanding	 	  	Number of Shares
Owned by Record
Owner	 	  	Ownership
Percentage	 	 	Certificate No.	 
	 Green Tree

Servicing Corp.
	  	Walter Management
Holding Company
LLC	  	 	Common	 	  	 	100,000	 	  	 	100,000	 	  	 	100	% 	 	 	4	 
	 Green Tree

Insurance Agency

of Nevada, Inc.
	  	Green Tree Credit
Solutions LLC	  	 	Common	 	  	 	10,000	 	  	 	10,000	 	  	 	100	% 	 	 	8	 
	 Reverse Mortgage

Solutions, Inc.
	  	Walter Reverse
Acquisition LLC	  	 	Common	 	  	 	1,000	 	  	 	1,000	 	  	 	100	% 	 	 	15	 

  
 4 

 ANNEX D 

That certain Global Intercompany Note, dated as of the Closing Date, by and among the Payees and Payors party thereto. 

  
 5 

 ANNEX E 
  

																			
	 Entity
	  	Record Owner	  	Certificate No.	 	  	No. Interest Issues
and Outstanding	 	  	No. Interest Owned
by Record Owner	 	  	Ownership 
Percentage	 
	 Green Tree Credit

Solutions LLC
	  	Ditech Holding
Corporation	  	 	Uncertificated	 	  	 	N/A	 	  	 	N/A	 	  	 	100	% 
	 Green Tree Credit LLC
	  	Walter Management
Holding Company LLC	  	 	Uncertificated	 	  	 	N/A	 	  	 	N/A	 	  	 	100	% 
	 Green Tree Investment

Holdings III LLC
	  	Green Tree Credit
Solutions LLC	  	 	Uncertificated	 	  	 	N/A	 	  	 	N/A	 	  	 	100	% 
	 Walter Management

Holding Company LLC
	  	Green Tree Credit
Solutions LLC	  	 	Uncertificated	 	  	 	N/A	 	  	 	N/A	 	  	 	100	% 
	 Ditech Financial LLC
	  	Walter Management
Holding Company LLC	  	 	Uncertificated	 	  	 	N/A	 	  	 	N/A	 	  	 	100	% 
	 Walter Reverse

Acquisition LLC
	  	Ditech Holding
Corporation	  	 	Uncertificated	 	  	 	N/A	 	  	 	N/A	 	  	 	100	% 
	 Mortgage Asset

Systems, LLC
	  	Reverse Mortgage
Solutions, Inc.	  	 	Uncertificated	 	  	 	N/A	 	  	 	N/A	 	  	 	100	% 
	 REO Management

Solutions, LLC
	  	Reverse Mortgage
Solutions, Inc.	  	 	Uncertificated	 	  	 	N/A	 	  	 	N/A	 	  	 	100	% 
	 WIMC Real Estate

Investment LLC
	  	Ditech Holding
Corporation	  	 	Uncertificated	 	  	 	N/A	 	  	 	N/A	 	  	 	100	% 
	 DF Insurance Agency

LLC
	  	Green Tree Credit
Solutions LLC	  	 	Uncertificated	 	  	 	N/A	 	  	 	N/A	 	  	 	100	% 

  
 6 

 ANNEX F 

None. 

  
 7 

 ANNEX G 

Other Investments: 
  

	 	1.	Ditech Holding Corporation owns a 100% undivided beneficial ownership interest in Mid-State Trust X pursuant to a trust agreement dated as of October 31, 2001 as further
amended and restated from time to time, between Mid-State Homes, Inc. and Wilmington Trust Company 

  

	 	2.	Ditech Holding Corporation owns a 100% undivided beneficial ownership interest in Mid-State Capital Corporation 2006-1 Trust pursuant to a
trust agreement dated as of July 14, 2004 as further amended and restated from time to time, between Mid-State Homes, Inc. and Wilmington Trust Company 

 

	 	3.	Ditech Holding Corporation owns a 100% undivided beneficial ownership interest in Mid-State Trust XI pursuant to a trust agreement dated as of July 24, 2003 as further
amended and restated from time to time, between Mid-State Homes, Inc. and Wilmington Trust Company 

  

	 	4.	Ditech Holding Corporation owns a 100% undivided beneficial ownership interest in Mid-State Capital Corporation 2005-1 Trust pursuant to a
trust agreement dated as of November 22, 2005 as further amended and restated from time to time, between Mid-State Homes, Inc. and Wilmington Trust Company 

 

	 	5.	Ditech Holding Corporation holds a Class R Asset-Backed Note issued by WIMC Capital Trust 2011-1, governed by a trust agreement dated as of June 8, 2011

  

	 	6.	Investment by Ditech Holding Corporation in single, fixed-rate security with a 8.0% coupon and a contractual maturity of 2038 

  

	 	7.	Investment by Green Tree Credit Solutions LLC in beneficial interests of Hanover Capital Trust 2001-A 

 

	 	8.	Ditech Holding Corporation owns approximately a 10% interest in Walter Capital Opportunity Corp. 

  
 8 

 ANNEX H 

Form of Agreement Regarding Uncertificated Securities, 

Limited Liability Company Interests and Partnership Interests 

AGREEMENT (as amended, modified, restated and/or supplemented from time to time, this “Agreement”), dated as of
[         , 20     ], among the undersigned pledgor (the “Pledgor”), CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH not in its individual capacity but solely as
Collateral Agent under the Pledge Agreement referred to below (in such capacity, the “Pledgee”), and [         ], as the issuer of the Uncertificated Securities, Limited Liability
Company Interests and/or Partnership Interests (each as defined below) (the “Issuer”). 
 W I T N E S S E T H: 

WHEREAS, the Pledgor, certain of its affiliates and the Pledgee have entered into an Amended and Restated First Lien Pledge Agreement, dated
as of February 9, 2018 (as amended, modified, restated and/or supplemented from time to time, the “Pledge Agreement”), under which, among other things, in order to secure the payment of the Secured Obligations (as defined in
the Pledge Agreement), the Pledgor has or will pledge to the Pledgee for the benefit of the Secured Creditors (as defined in the Pledge Agreement), and grant a security interest in favor of the Pledgee for the benefit of such Secured Creditors in,
all of the right, title and interest of the Pledgor in and to any and all [“uncertificated securities” (as defined in Section 8-102(a)(18) of the Uniform Commercial Code, as adopted in the State
of New York (the “UCC”)) (“Uncertificated Securities”)] [Partnership Interests (as defined in the Pledge Agreement)] [Limited Liability Company Interests (as defined in the Pledge Agreement)], from time to time
issued by the Issuer, whether now existing or hereafter from time to time acquired by the Pledgor (with all of such [Uncertificated Securities] [Partnership Interests] [Limited Liability Company Interests] being herein collectively called the
“Collateral”); and 
 WHEREAS, the Pledgor is the registered owner of the Collateral and desires the Issuer to enter into
this Agreement in order to perfect the security interest of the Pledgee under the Pledge Agreement in the Collateral, to vest in the Pledgee control of the Collateral and to provide for the rights of the parties under this Agreement; 

NOW THEREFORE, in consideration of the premises and the mutual promises and agreements contained herein, and for other valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows: 
 1. The Pledgor hereby
irrevocably authorizes and directs the Issuer, and the Issuer hereby agrees, to comply with any and all instructions (as defined in Section 8-102 of the UCC) and orders originated by the Pledgee (and its
successors and assigns) regarding any and all of the Collateral without the further consent by the registered owner (including the Pledgor) or any other person, and, following its receipt of a notice from the Pledgee stating that the Pledgee is
exercising exclusive control of the Collateral, not to comply with any instructions (as defined in Section 8-102 of the UCC) or orders regarding any or all of the Collateral originated by any person or
entity other than the Pledgee (and its successors and assigns) or a court of competent jurisdiction. 

  
 9 

 2. The Issuer hereby certifies that (i) no notice of any security interest, lien or other
encumbrance or claim (including any writ, garnishment, judgment, attachment, execution or similar process) affecting the Collateral (other than the security interest of the Pledgee) has been received by it (in which case such Issuer shall promptly
notify the Pledgee thereof), and (iii) the security interest of the Pledgee in the Collateral has been registered in the books and records of the Issuer. 

3. The Issuer hereby represents and warrants that (i) the pledge by the Pledgor of, and the granting by the Pledgor of a security interest
in, the Collateral to the Pledgee, for the benefit of the Secured Creditors, does not violate the charter, by-laws, partnership agreement, membership agreement or any other agreement governing the Issuer or
the Collateral, (ii) this Agreement is a valid and binding agreement of the Issuer enforceable in accordance with its terms, (iii) there is no other agreement (except this Agreement) between the Issuer and the Pledgor with respect to the
Collateral (in which case this Agreement shall prevail to the extent of any conflict between such other agreement, whether now existing or hereafter entered into, and this Agreement), (iv) there is no other agreement between the Issuer and any other
person pursuant to which the Issuer has agreed, or will agree, to comply with instructions (as defined in Section 8-102 of the UCC) of such other person and (v) the Collateral consisting of capital
stock of a corporation is fully paid and nonassessable. 
 4. The Issuer hereby (i) waives any security interest, lien or right of set-off that it may now have or hereafter acquire in or with respect to the Collateral, (ii) agrees that the Issuer’s obligations in respect of the Collateral will not be subject to deduction, set-off or any other right in favor of any person other than the Pledgee, (iii) agrees to deliver to the Pledgee all non-cash dividends, interests and other non-cash distributions paid or made upon or with respect to the Collateral, (iv) agrees that all items of income, gain, expense and loss recognized in respect to the Collateral shall be reported to the U.S.
internal revenue service and all state and local taxing authorities under the name and taxpayer identification number of the Pledgor, and (v) agrees that the rights and powers granted herein to the Pledgee are powers coupled with an interest
and will not be affected by any bankruptcy of the Pledgor or any lapse of time. 
 5. All notices, statements of accounts, reports,
prospectuses, financial statements and other communications to be sent to the Pledgor by the Issuer in respect of the Issuer will also be sent to the Pledgee at the following address: 

Credit Suisse AG, Cayman Islands Branch 

Eleven Madison Avenue 
 New York,
NY 10010 
 Attention: Sean Portrait 

Telecopier No.: 212-322-2291 

Email: agency.loanops@credit-suisse.com 

  
 10 

 6. Following its receipt of a notice from the Pledgee stating that the Pledgee is exercising
exclusive control of the Collateral and until the Pledgee shall have delivered written notice to the Issuer that all of the Secured Obligations have been paid in full in cash and this Agreement is terminated, the Issuer will send any and all
redemptions, distributions, interest or other payments in respect of the Collateral from the Issuer for the account of the Pledgee only by wire transfers to such account as the Pledgee shall instruct. 

7. Except as expressly provided otherwise in Sections 5 and 6, all notices, instructions, orders and communications hereunder shall be sent or
delivered by mail, telegraph, telex, telecopy, cable or overnight courier service and all such notices and communications shall, when mailed, telexed, telecopied, cabled or sent by overnight courier, be effective when deposited in the mails or
delivered to overnight courier, prepaid and properly addressed for delivery on such or the next Business Day, or sent by telex or telecopier, except that notices and communications to the Pledgee or the Issuer shall not be effective until received.
All notices and other communications shall be in writing and addressed as follows: 
  

							
		  	(a)	  	if to the Pledgor, at:	  	
		  		  	  
	  	
		  		  	  
	  	
		  		  	  
	  	
		  		  	  
	  	
		  		  	Attention:                    	  	
		  		  	Telephone No.:	  	
		  		  	Fax No.:	  	
			
		  	(b)	  	if to the Pledgee, at the address given in Section 4 hereof;
				
		  	(c)	  	if to the Issuer, at: 	  	
		  		  	  
	  	
		  		  	  
	  	
		  		  	  
	  	

 or at such other address as shall have been furnished in writing by any person described above to the party required to give
notice hereunder. As used in this Section 6, “Business Day” means any day other than a Saturday, Sunday, or other day in which banks in New York are authorized to remain closed. 

8. This Agreement shall be binding upon the successors and assigns of the Pledgor and the Issuer and shall inure to the benefit of and be
enforceable by the Pledgee and its successors and assigns. This Agreement may be executed in any number of counterparts, each of which shall be an original, but all of which shall constitute one instrument. In the event that any provision of this
Agreement shall prove to be invalid or unenforceable, such provision shall be deemed to be severable from the other provisions of this Agreement which shall remain binding on all parties hereto. None of the terms and conditions of this Agreement may
be changed, waived, modified or varied in any manner whatsoever except in writing signed by the Pledgee, the Issuer and the Pledgor. 
 9.
This Agreement shall be governed by and construed in accordance with the laws of the State of New York, without regard to its principles of conflict of laws. 

* * * 

  
 11 

 IN WITNESS WHEREOF, the Pledgor, the Pledgee and the Issuer have caused this Agreement to be
executed by their duly elected officers duly authorized as of the date first above written. 
  

			
	[                                    
     ],
		 	as Pledgor
		
	By:	 	  

		 	Name:
		 	Title:
	
	CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, not in its individual capacity but solely as Pledgee
		
	By:	 	  

		 	Name:
		 	Title:
		
	By:	 	  

		 	Name:
		 	Title:
	
	[                                    
     ],
		 	as the Issuer
		
	By:	 	  

		 	Name:
		 	Title:

  
 12 

 EXHIBIT C 

FORM OF FIRST LIEN/SECOND LIEN INTERCREDITOR AGREEMENT 

  
 C-1 

 FIRST LIEN/SECOND LIEN INTERCREDITOR AGREEMENT 

dated as of 
 February 9,
2018 
 among 
 CREDIT SUISSE
AG, CAYMAN ISLANDS BRANCH, 
 as Senior Collateral Agent for the Senior Secured Parties, 

WILMINGTON SAVINGS FUND SOCIETY, FSB, 

as Junior Collateral Agent for the Junior Secured Parties, 

and 
 each Additional Senior Agent
and each Additional Junior Agent from time to time party hereto 

 TABLE OF CONTENTS 

 

					
	 	  	Page	 
	ARTICLE I DEFINITIONS 	  	 	1	 
	 SECTION 1.01 Certain Defined Terms
	  	 	1	 
	 SECTION 1.02 Terms Generally
	  	 	10	 
		
	ARTICLE II PRIORITIES AND AGREEMENTS WITH RESPECT TO SHARED COLLATERAL 	  	 	10	 
	 SECTION 2.01 Subordination
	  	 	10	 
	 SECTION 2.02 Nature of Senior Lender Claims
	  	 	11	 
	 SECTION 2.03 Prohibition on Contesting Liens
	  	 	11	 
	 SECTION 2.04 No New Liens
	  	 	11	 
	 SECTION 2.05 Perfection of Liens
	  	 	12	 
	 SECTION 2.06 Certain Cash Collateral
	  	 	12	 
	 SECTION 2.07 Refinancings
	  	 	12	 
		
	ARTICLE III ENFORCEMENT 	  	 	13	 
	 SECTION 3.01 Exercise of Remedies
	  	 	13	 
	 SECTION 3.02 Cooperation
	  	 	15	 
	 SECTION 3.03 Actions upon Breach
	  	 	15	 
		
	ARTICLE IV PAYMENTS 	  	 	15	 
	 SECTION 4.01 Application of Proceeds
	  	 	15	 
	 SECTION 4.02 Payments Over
	  	 	16	 
		
	ARTICLE V OTHER AGREEMENTS 	  	 	16	 
	 SECTION 5.01 Releases
	  	 	16	 
	 SECTION 5.02 Insurance and Condemnation Awards
	  	 	17	 
	 SECTION 5.03 Junior Debt Documents and Amendments Thereto
	  	 	18	 
	 SECTION 5.04 Rights as Unsecured Creditors
	  	 	19	 
	 SECTION 5.05 Gratuitous Bailee for Perfection
	  	 	20	 
	 SECTION 5.06 When Discharge of Senior Obligations Deemed to Not Have Occurred
	  	 	21	 
	 SECTION 5.07 Purchase Right
	  	 	22	 
		
	ARTICLE VI INSOLVENCY OR LIQUIDATION PROCEEDINGS. 	  	 	22	 
	 SECTION 6.01 Financing and Sale Issues
	  	 	22	 
	 SECTION 6.02 Relief from the Automatic Stay
	  	 	23	 
	 SECTION 6.03 Adequate Protection
	  	 	24	 
	 SECTION 6.04 Preference Issues
	  	 	25	 
	 SECTION 6.05 Separate Grants of Security and Separate Classifications
	  	 	25	 
	 SECTION 6.06 No Waivers of Rights of Senior Secured Parties
	  	 	26	 
	 SECTION 6.07 Application
	  	 	26	 
	 SECTION 6.08 Other Matters
	  	 	26	 
	 SECTION 6.09 506(c) Claims
	  	 	26	 
	 SECTION 6.10 Reorganization Securities
	  	 	26	 
	 SECTION 6.11 Post-Petition Interest
	  	 	27	 
	 SECTION 6.12 Voting
	  	 	27	 

  
 i 

					
		
	ARTICLE VII RELIANCE; ETC.	  	 	27	 
	 SECTION 7.01 Reliance
	  	 	27	 
	 SECTION 7.02 No Warranties or Liability
	  	 	27	 
	 SECTION 7.03 Obligations Unconditional
	  	 	28	 
		
	ARTICLE VIII MISCELLANEOUS	  	 	29	 
	 SECTION 8.01 Conflicts
	  	 	29	 
	 SECTION 8.02 Continuing Nature of this Agreement; Severability
	  	 	29	 
	 SECTION 8.03 Amendments; Waivers
	  	 	29	 
	 SECTION 8.04 Information Concerning Financial Condition of the Borrower and the other Grantors
	  	 	30	 
	 SECTION 8.05 Subrogation
	  	 	30	 
	 SECTION 8.06 Application of Payments
	  	 	30	 
	 SECTION 8.07 Additional Grantors
	  	 	30	 
	 SECTION 8.08 Reserved
	  	 	31	 
	 SECTION 8.09 Additional Debt Facilities
	  	 	31	 
	 SECTION 8.10 Consent to Jurisdiction; Waivers
	  	 	32	 
	 SECTION 8.11 Notices
	  	 	32	 
	 SECTION 8.12 Further Assurances
	  	 	33	 
	 SECTION 8.13 GOVERNING LAW; WAIVER OF JURY TRIAL
	  	 	33	 
	 SECTION 8.14 Parties in Interest
	  	 	33	 
	 SECTION 8.15 Headings
	  	 	34	 
	 SECTION 8.16 Counterparts
	  	 	34	 
	 SECTION 8.17 Authorization
	  	 	34	 
	 SECTION 8.18 Provisions Solely to Define Relative Rights
	  	 	34	 
	 SECTION 8.19 Effectiveness
	  	 	34	 
	 SECTION 8.20 Senior Collateral Agent and Junior Collateral Agent
	  	 	34	 
	 SECTION 8.21 Relative Rights
	  	 	35	 
	 SECTION 8.22 Survival of Agreement
	  	 	35	 
	 SECTION 8.23 Integration
	  	 	35	 
	 SECTION 8.24 Exclusive Means of Exercising Rights under this Agreement
	  	 	35	 

  
 ii 

 FIRST LIEN/SECOND LIEN INTERCREDITOR AGREEMENT dated as of February 9, 2018 (as amended,
restated, amended and restated, supplemented or otherwise modified from time to time, this “Agreement”), among DITECH HOLDING CORPORATION (F/K/A WALTER INVESTMENT MANAGEMENT CORP.), a Maryland corporation (the
“Borrower”), the other Grantors (as defined below) party hereto, CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, as collateral agent for the Senior Credit Agreement Secured Parties (as defined below) (acting in such capacity on the
direction of the requisite Senior Secured Parties and together with its successors in such capacity, the “Senior Collateral Agent”), WILMINGTON SAVINGS FUND SOCIETY, FSB, as collateral agent for the Initial Junior Debt Secured
Parties (in such capacity and together with its successors in such capacity, the “Junior Collateral Agent”) and each Additional Senior Agent and each Additional Junior Agent that from time to time becomes a party hereto pursuant to
Section 8.09. 
 RECITALS 

A. The Lenders and Issuing Banks (in each case as defined in the Senior Credit Agreement) have agreed to make loans and other extensions of
credit to the Borrower pursuant to the Senior Credit Agreement, upon, among other terms and conditions, the condition that the Senior Credit Agreement Obligations shall be secured by first priority Liens on, and security interests in, the
Collateral. 
 B. The Initial Junior Debt Secured Parties under the Initial Junior Debt Documents have agreed to make certain extensions of
credit to the Borrower pursuant to the Initial Junior Debt Documents, upon, among other terms and conditions, the condition that the Initial Junior Debt Obligations shall be secured by second priority Liens on, and security interests in, the
Collateral. 
 C. The Senior Credit Agreement Loan Documents and Initial Junior Debt Documents require, among other things, that the Senior
Collateral Agent and the Junior Collateral Agent set forth in this Agreement, among other things, their respective rights with respect to the Collateral. 

D. In consideration of the mutual agreements herein contained and other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the Senior Collateral Agent (for itself and on behalf of the Senior Credit Agreement Secured Parties), the Junior Collateral Agent (for itself and on behalf of the Initial Junior Debt Secured Parties), each Additional Senior
Agent (for itself and on behalf of the Additional Senior Secured Parties under the applicable Additional Senior Debt Facility) and each Additional Junior Agent (for itself and on behalf of the Additional Junior Secured Parties under the applicable
Additional Junior Debt Facility) agree as follows: 
 ARTICLE I 

Definitions 

SECTION 1.01 Certain Defined Terms. Capitalized terms used but not otherwise defined herein have the meanings set forth in the
Senior Credit Agreement or, if defined in the New York UCC, the meanings specified therein. As used in this Agreement, the following terms have the meanings specified below: 

“Additional Junior Agent” means the collateral agent, administrative agent and/or trustee (as applicable) or any other
similar agent or Person under any Additional Junior Debt Documents, in each case, together with its successors in such capacity. 

 “Additional Junior Debt” means any Indebtedness of the Borrower or any other
Grantor (other than Indebtedness constituting Initial Junior Debt Obligations) which Indebtedness is secured by the Junior Collateral (or a portion thereof) on a pari passu basis or junior priority basis (but without regard to control
of remedies) with the Initial Junior Debt Obligations; provided, however, that, (i) such Indebtedness is permitted to be incurred and secured on such basis by each then existing Senior Debt Document and Junior Debt Document and
(ii) the Representative for the holders of such Indebtedness shall have become party to this Agreement pursuant to, and by satisfying the conditions set forth in, Section 8.09. Additional Junior Debt shall include any
Registered Equivalent Notes issued in exchange therefor and Guarantees thereof by the Guarantors. 
 “Additional Junior Debt
Documents” means, with respect to any Series of Additional Junior Debt Obligations, the notes, credit agreements, indentures, security documents and other operative agreements evidencing or governing such Additional Junior Debt Obligations
and each other agreement entered into for the purpose of securing such Additional Junior Debt Obligations. 
 “Additional Junior
Debt Facility” means each debt facility, credit agreement, indenture or other governing agreement with respect to any Additional Junior Debt. 

“Additional Junior Debt Obligations” means, with respect to any Series of Additional Junior Debt, (a) all principal of,
and interest, fees, expenses and other amounts (including any interest, fees, and expenses which accrue after the commencement of any Insolvency or Liquidation Proceeding, whether or not allowed or allowable as a claim in any such proceeding)
payable with respect to, such Additional Junior Debt, (b) all other amounts payable to the related Additional Junior Secured Parties under the related Additional Junior Debt Documents and (c) any renewals or extensions of the foregoing.

 “Additional Junior Secured Parties” means, with respect to any Series of Additional Junior Debt Obligations, the holders
of such Additional Junior Debt Obligations, the Representative with respect thereto, any trustee or agent therefor under any related Additional Junior Debt Documents and the beneficiaries of each indemnification obligation undertaken by the Borrower
or any Guarantor under any related Additional Junior Debt Documents. 
 “Additional Senior Agent” means the collateral
agent, administrative agent and/or trustee (as applicable) under any Additional Senior Debt Documents, in each case, together with its successors in such capacity. 

“Additional Senior Debt” means any Indebtedness of the Borrower or any other Grantor (other than Indebtedness constituting
Senior Credit Agreement Obligations) which Indebtedness is secured by the Senior Collateral (or a portion thereof) on a pari passu basis or a junior priority basis (but without regard to control of remedies) with the Senior Credit
Agreement Obligations, but in either case on a senior priority basis to the Junior Obligations; provided, however, that, (i) such Indebtedness is permitted to be incurred and secured on such basis by each then extant Senior Debt
Document and Junior Debt Document and (ii) the Representative for the holders of such Indebtedness shall have become party to (A) this Agreement pursuant to, and by satisfying the conditions set forth in,
Section 8.09 and (B) the First Lien Intercreditor Agreement. Additional Senior Debt shall include any Registered Equivalent Notes issued in exchange therefor and Guarantees thereof by the Guarantors. 

“Additional Senior Debt Documents” means, with respect to any Series of Additional Senior Debt, the notes, credit agreements,
indentures, security documents and other operative agreements evidencing or governing such Additional Senior Debt and each other agreement entered into for the purpose of securing such Additional Senior Debt Obligations. 

“Additional Senior Debt Facility” means each debt facility, credit agreement, indenture or other governing agreement with
respect to any Additional Senior Debt. 

  
 2 

 “Additional Senior Debt Obligations” means, with respect to any Series of
Additional Senior Debt, (a) all principal of, and interest, fees, expenses and other amounts (including, without limitation, any interest, fees, and expenses which accrue after the commencement of any Insolvency or Liquidation Proceeding,
whether or not allowed or allowable as a claim in any such proceeding) payable with respect to, such Additional Senior Debt, (b) all other amounts payable to the related Additional Senior Secured Parties under the related Additional Senior Debt
Documents and (c) any renewals or extensions of the foregoing. 
 “Additional Senior Secured Parties” means, with
respect to any Series of Additional Senior Debt Obligations, the holders of such Additional Senior Debt Obligations, the Representative with respect thereto, any trustee or agent therefor under any related Additional Senior Debt Documents and the
beneficiaries of each indemnification obligation undertaken by the Borrower or any Guarantor under any related Additional Senior Debt Documents. 

“Agreement” has the meaning assigned to such term in the preamble hereto. 

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

“Bankruptcy Law” means the Bankruptcy Code and any other federal, state, or foreign law for the relief of debtors, or any
arrangement, reorganization, insolvency, moratorium, assignment for the benefit of creditors, any other marshalling of the assets or liabilities of the Borrower or any of its Subsidiaries, or similar law affecting creditors’ rights generally.

 “Borrower” has the meaning assigned to such term in the preamble hereto. 

“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. 
 “Cash Management Agreement” means any agreement or arrangement to
provide Cash Management Services. 
 “Cash Management Services” means any one or more of the following types of services or
facilities: (a) ACH transactions, (b) cash management services, including controlled disbursement services, treasury, depository, overdraft, credit or debit card, stored value card, electronic funds transfer services, and (c) foreign
exchange facilities or other cash management arrangements in the ordinary course of business. For the avoidance of doubt, Cash Management Services do not include Swap Agreements. 

“Class Debt” has the meaning assigned to such term in Section 8.09. 

“Class Debt Parties” has the meaning assigned to such term in Section 8.09. 

“Class Debt Representatives” has the meaning assigned to such term in
Section 8.09. 
 “Collateral” means the Senior Collateral and the Junior Collateral. 

“Collateral Documents” means the Senior Collateral Documents and the Junior Collateral Documents. 

“DACA Termination Date” has the meaning assigned to such term in Section 5.05(f). 

  
 3 

 “Debt Facility” means any Senior Debt Facility and any Junior Debt Facility.

 “Designated Junior Representative” means (i) the Junior Collateral Agent until such time as the Junior Debt
Facility under the Initial Junior Debt Documents ceases to be the only Junior Debt Facility under this Agreement and (ii) thereafter, the Junior Representative designated by all then existing Junior Representatives in a notice to the Designated
Senior Representative. 
 “Designated Senior Representative” means (i) the “Controlling First Lien Collateral
Agent” or substantially similar term as defined in any First Lien Intercreditor Agreement or (ii) in the case that no First Lien Intercreditor Agreement or any successor thereto is then in effect, the remaining Senior Representative. 

“DIP Financing” has the meaning assigned to such term in Section 6.01. 

“Discharge” means, with respect to any Debt Facility, the date on which (a) (i) the principal of and interest (including
interest accruing on or after the commencement of any Insolvency or Liquidation Proceeding, whether or not such interest would be allowed in such Insolvency or Liquidation Proceeding) on all Secured Obligations outstanding under such Debt Facility
are paid in full in cash, (ii) subject to subclause (iii) herein, all other Secured Obligations (other than any obligations in respect of contingent indemnification and expense reimbursement claims not then due) under such Debt Facility
that are due and payable or otherwise owing at or prior to the time of such principal and interest payment are paid in full in cash and (iii) with respect to any Secured Swap Obligations or Secured Cash Management Obligations secured by the
Collateral Documents for such Debt Facility, either (x) such Secured Swap Obligations or Secured Cash Management Obligations have been paid in full and are no longer secured by any of the Shared Collateral pursuant to the terms of the
documentation governing such Debt Facility, (y) such Secured Swap Obligations or Secured Cash Management Obligations shall have been cash collateralized on terms reasonably satisfactory to each applicable counterparty (or other arrangements
reasonably satisfactory to the applicable counterparty shall have been made) or (z) such Secured Swap Obligations or Secured Cash Management Obligations are no longer secured by any of the Shared Collateral pursuant to the terms of the
documentation governing such Debt Facility, (b) any letters of credit issued under such Debt Facility have terminated or have been cash collateralized or backstopped (in the amount and form required under the applicable Debt Facility (but in
any event in an amount no more than 105% of the sum of undrawn and drawn and unreimbursed amounts thereof)), (c) all commitments of the applicable Secured Parties under such Debt Facility have terminated and (d) in the event of an Insolvency or
Liquidation Proceeding under the Bankruptcy Code, adequate provision reasonably satisfactory to the applicable Secured Party shall have been made for any unliquidated Senior Obligations or Junior Obligations, as the case may be, related to claims,
causes of action or liabilities that have been asserted by the applicable Secured Party and for which reimbursement or indemnification is required under the documentation governing the applicable Debt Facility. The term “Discharged”
shall have a corresponding meaning. 
 “Event of Default” means an “Event of Default” (or similar term) as
defined in any Senior Debt Document or Junior Debt Document. 
 “First Lien Intercreditor Agreement” means any applicable
“Intercreditor Agreement” as defined in the Senior Credit Agreement that provides for Indebtedness to be secured on a pari passu basis with the Senior Obligations. 

“Grantors” means the Borrower and each other Subsidiary of the Borrower which has granted a security interest pursuant to any
Collateral Document to secure any Secured Obligations. The Subsidiaries of the Borrower that are Grantors existing on the date hereof are the Borrower and those entities set forth in Annex I hereto. 

  
 4 

 “Guarantors” means the “Subsidiary Guarantor” as defined in the Senior
Credit Agreement. 
 “Initial Junior Debt Documents” means that certain Indenture, dated as of the date hereof, among the
Borrower, the Guarantors identified therein and Wilmington Savings Fund Society, FSB, as trustee and collateral agent and any notes, security documents and other agreements evidencing or governing such Indebtedness, including any agreement entered
into for the purpose of securing the Initial Junior Debt Obligations. 
 “Initial Junior Debt Obligations” means the
“Secured Obligations” as defined in the Initial Junior Debt Documents. 
 “Initial Junior Debt Secured Parties”
means the “Secured Parties” as defined in the Initial Junior Debt Documents and the Junior Collateral Agent. 

“Insolvency or Liquidation Proceeding” means: 

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

(2) any liquidation, dissolution, marshalling of assets or liabilities or other winding up of or relating to the Borrower or
any other Grantor, in each case whether or not voluntary and whether or not involving bankruptcy or insolvency; or 
 (3) any
other proceeding of any type or nature in which substantially all claims of creditors of the Borrower or any other Grantor are determined and any payment or distribution is or may be made on account of such claims. 

“Joinder Agreement” means a supplement to this Agreement in the form of Annex III or Annex IV required to be
delivered by a Representative to the Designated Senior Representative and the Designated Junior Representative pursuant to Section 8.09 in order to include an additional Debt Facility hereunder and to become the
Representative hereunder for the Senior Secured Parties or Junior Secured Parties, as the case may be, under such Debt Facility. 

“Junior Class Debt” has the meaning assigned to such term in Section 8.09. 

“Junior Class Debt Parties” has the meaning assigned to such term in
Section 8.09. 
 “Junior Class Debt Representative” has the meaning assigned
to such term in Section 8.09. 
 “Junior Collateral” means any “Collateral” (or similar
term) as defined in any Junior Debt Document or any other assets of the Borrower or any other Grantor with respect to which a Lien is granted or purported to be granted pursuant to a Junior Collateral Document as security for any Junior Obligation.

  
 5 

 “Junior Collateral Agent” has the meaning assigned to such term in the
introductory paragraph of this Agreement. 
 “Junior Collateral Documents” means the “Security Documents” as
defined in the Initial Junior Debt Documents, this Agreement and each of the security agreements and other instruments and documents executed and delivered by the Borrower or any Grantor for purposes of providing collateral security for any Junior
Obligation. 
 “Junior Debt Documents” means (a) the Initial Junior Debt Documents and (b) any Additional Junior
Debt Documents. 
 “Junior Debt Facility” means each indenture, credit agreement or other governing agreement with respect
to any Junior Obligations. 
 “Junior Enforcement Date” means, with respect to any Junior Representative, the date which is
180 days after the occurrence of both (i) an Event of Default (under and as defined in the Junior Debt Document for which such Junior Representative has been named as Representative) and (ii) the Designated Senior Representative’s and
each other Representative’s receipt of written notice from such Junior Representative that (x) such Junior Representative is the Designated Junior Representative and that an Event of Default under and as defined in the Junior Debt Document
for which such Junior Representative has been named as Representative has occurred and is continuing and (y) all of the outstanding Junior Obligations are currently due and payable in full (whether as a result of acceleration thereof or
otherwise) in accordance with the terms of the applicable Junior Debt Documents; provided that the Junior Enforcement Date shall be stayed and shall not occur and shall be deemed not to have occurred with respect to any Shared Collateral
(1) at any time the Designated Senior Representative has commenced and is diligently pursuing any enforcement action with respect to a material portion of the Shared Collateral or (2) at any time any Grantor is then a debtor under or with
respect to (or otherwise subject to) any Insolvency or Liquidation Proceeding. If the Designated Junior Representative or any other Junior Secured Party exercises any rights or remedies with respect to the Shared Collateral in accordance with the
immediately preceding sentence of this paragraph and thereafter the Designated Senior Representative or any other Senior Secured Party commences and is diligently pursuing the exercise of any of its rights or remedies with respect to a material
portion of the Shared Collateral (including seeking relief from the automatic stay or any other stay in any Insolvency or Liquidation Proceeding), then the Junior Enforcement Date shall be deemed not to have occurred and the Designated Junior
Representative and each other Junior Secured Party shall stop exercising any such rights or remedies with respect to the Shared Collateral. 

“Junior Obligations” means (a) the Initial Junior Debt Obligations and (b) any Additional Junior Debt Obligations.

 “Junior Representative” means (i) in the case of the Initial Junior Debt Documents covered hereby, the Junior
Collateral Agent and (ii) in the case of any Additional Junior Debt Facility and the Additional Junior Secured Parties thereunder, each Additional Junior Agent in respect of such Additional Junior Debt Facility that is named as such in the
applicable Joinder Agreement. 
 “Junior Secured Parties” means the Initial Junior Debt Secured Parties and any Additional
Junior Secured Parties. 

  
 6 

 “Lien” means any mortgage, deed of trust, pledge, hypothecation, assignment,
deposit arrangement, encumbrance, charge, lien (statutory or other), preference, priority or other security agreement of any kind or nature whatsoever (including, without limitation, the interest of a vendor or a lessor under any capital lease,
conditional sale agreement or other title retention agreement or any financing lease having substantially the same economic effect as any of the foregoing), in each case, in the nature of security. 

“New York UCC” means the Uniform Commercial Code as from time to time in effect in the State of New York. 

“Officer’s Certificate” has the meaning assigned to such term in Section 8.08. 

“Plan of Reorganization” means any plan of reorganization, plan of liquidation, plan of arrangement, agreement for
composition, or other type of dispositive restructuring plan proposed in or in connection with any Insolvency or Liquidation Proceeding. 

“Pledged or Controlled Collateral” has the meaning assigned to such term in Section 5.05(a). 

“Proceeds” means the proceeds of any sale, exchange collection, disposal, or other liquidation of Shared Collateral, any
payment or distribution, including any additional or replacement collateral provided during any Insolvency or Liquidation Proceeding, made in respect of Shared Collateral in an Insolvency or Liquidation Proceeding and any amounts received by any
Senior Representative or any Senior Secured Party from a Junior Secured Party in respect of Shared Collateral pursuant to this Agreement or any other intercreditor agreement. 

“Purchase Event” has the meaning assigned to such term in Section 5.07. 

“Recovery” has the meaning assigned to such term in Section 6.04. 

“Refinance” means, in respect of any Indebtedness, to refinance, extend, renew, defease, amend, increase, modify, supplement,
restructure, refund, replace or repay, or to issue other Indebtedness or enter alternative financing arrangements, in exchange or replacement for such indebtedness (in whole or in part), including by adding or replacing lenders, creditors, agents,
borrowers and/or guarantors, and including in each case, but not limited to, after the original instrument giving rise to such Indebtedness has been terminated and including, in each case, through any credit agreement, indenture or other agreement.
“Refinanced” and “Refinancing” have correlative meanings. 
 “Registered Equivalent
Notes” means, with respect to any notes originally issued in a Rule 144A or other private placement transaction under the Securities Act of 1933, substantially identical notes (having the same Guarantees) issued in a dollar for dollar
exchange therefor pursuant to an exchange offer registered with the SEC. 
 “Representatives” means the Senior
Representatives and the Junior Representatives. 
 “SEC” means the United States Securities and Exchange Commission and any
successor agency thereto. 
 “Secured Cash Management Obligations” means obligations of a Grantor under Cash Management
Agreements with a Senior Secured Party that are intended under the applicable Senior Collateral Document to be secured by Shared Collateral. 

  
 7 

 “Secured Obligations” means the Senior Obligations and the Junior Obligations.

 “Secured Parties” means the Senior Secured Parties and the Junior Secured Parties. 

“Secured Swap Obligations” means obligations of a Grantor under Swap Agreements with a Senior Secured Party that are intended
under the applicable Senior Collateral Document to be secured by Shared Collateral. 
 “Senior
Class Debt” has the meaning assigned to such term in Section 8.09. 
 “Senior
Class Debt Parties” has the meaning assigned to such term in Section 8.09. 

“Senior Class Debt Representative” has the meaning assigned to such term in
Section 8.09. 
 “Senior Collateral” means any “Collateral” (or similar term) as
defined in any Senior Debt Document or any other assets of the Borrower or any other Grantor with respect to which a Lien is granted or purported to be granted pursuant to a Senior Collateral Document as security for any Senior Obligation. 

“Senior Collateral Agent” has the meaning assigned to such term in the preamble hereto. 

“Senior Collateral Documents” means each of the “Security Documents” as defined in the Senior Credit Agreement, the
First Lien Intercreditor Agreement and each of the security agreements and other instruments and documents executed and delivered by the Borrower or any Grantor for purposes of providing collateral security for any Senior Obligation. 

“Senior Credit Agreement” means that certain Second Amended and Restated Credit Agreement, dated as of the date hereof, as
amended, restated, amended and restated, supplemented, increased or otherwise modified, refinanced or replaced from time to time, among the Borrower, the Lenders (as defined therein) from time to time party thereto, and Credit Suisse AG, Cayman
Islands Branch, as administrative agent and collateral agent. 
 “Senior Credit Agreement Loan Documents” means the Senior
Credit Agreement and the other “Credit Documents” as defined in the Senior Credit Agreement. 
 “Senior Credit Agreement
Obligations” means the “Secured Obligations” as defined in the Security Agreement (as defined in the Senior Credit Agreement). 

“Senior Credit Agreement Secured Parties” means the “Secured Creditors” as defined in the Senior Credit Agreement.

 “Senior Debt Documents” means (a) the Senior Credit Agreement Loan Documents and (b) any Additional Senior
Debt Documents. 
 “Senior Debt Facilities” means the Senior Credit Agreement and any Additional Senior Debt Facilities.

 “Senior Lien” means the Liens on the Senior Collateral in favor of the Senior Secured Parties under the Senior
Collateral Documents. 

  
 8 

 “Senior Obligations” means the Senior Credit Agreement Obligations and any
Additional Senior Debt Obligations; provided that all fees, expenses, premiums and indemnity rights of the Senior Collateral Agent, Additional Senior Agents and the administrative agent under the Senior Credit Agreement shall constitute
“Senior Obligations”. 
 “Senior Representative” means (i) in the case of any Senior Credit Agreement
Obligations or the Senior Credit Agreement Secured Parties, the Senior Collateral Agent, and (ii) in the case of any Additional Senior Debt Facility and the Additional Senior Secured Parties thereunder, each Additional Senior Agent in respect
of such Additional Senior Debt Facility that is named as such in the applicable Joinder Agreement. 
 “Senior Secured
Parties” means the Senior Credit Agreement Secured Parties and any Additional Senior Secured Parties. 
 “Series”
means (a) (i) with respect to the Senior Secured Parties, each of (x) the Senior Credit Agreement Secured Parties (in their capacities as such) and (y) the Additional Senior Secured Parties that become subject to this Agreement after
the date hereof that are represented by a common Representative (in its capacity as such for such Additional Senior Secured Parties) and (ii) with respect to the Junior Secured Parties, each of (x) the Initial Junior Debt Secured Parties
(in their capacity as such) and (y) the Additional Junior Secured Parties that become subject to this Agreement after the date hereof that are represented by a common Representative (in its capacity as such for such Additional Junior Secured
Parties) and (b) (i) with respect to any Senior Obligations, each of (x) the Senior Credit Agreement Obligations and (y) the Additional Senior Debt Obligations incurred pursuant to any Additional Senior Debt Facility and or any
Additional Senior Debt Documents, which pursuant to any Joinder Agreement, are to be represented hereunder by a common Representative (in its capacity as such for such Additional Senior Debt Obligations) and (ii) with respect to any Junior
Obligations, each of (x) the Initial Junior Debt Obligations and (y) the Additional Junior Debt Obligations incurred pursuant to any Additional Junior Debt Facility and the related Additional Junior Debt Documents, which pursuant to any
Joinder Agreement, are to be represented hereunder by a common Representative (in its capacity as such for such Additional Junior Debt Obligations). 

“Shared Collateral” means, at any time, Collateral in which the holders of Senior Obligations under at least one Senior Debt
Facility (or their Representatives) and the holders of Junior Obligations under at least one Junior Debt Facility (or their Representatives) hold a security interest at such time (or, in the case of the Senior Debt Facilities, are deemed to hold a
security interest pursuant to Section 2.04). If, at any time, any portion of the Senior Collateral under one or more Senior Debt Facilities does not constitute Junior Collateral under one or more Junior Debt Facilities,
then such portion of such Senior Collateral shall constitute Shared Collateral only with respect to the Junior Debt Facilities for which it constitutes Junior Collateral and shall not constitute Shared Collateral for any Junior Debt Facility which
does not have a security interest in such Collateral at such time. 
 “Swap Agreement” means (a) any and all rate swap
transactions, basis swaps, credit derivative transactions, forward rate transactions, commodity swaps, commodity options, forward contracts, future contracts, equity or equity index swaps or options, bond or bond price or bond index swaps or options
or forward bond or forward bond price or forward bond index transactions, interest rate options, forward foreign exchange transactions, cap transactions, floor transactions, collar transactions, currency swap transactions, cross-currency rate swap
transactions, currency options, spot contracts, repurchase agreements, reverse repurchase agreements, sell buy back and buy sell back agreements, and securities lending and borrowing agreements or any other similar transactions or any combination of
any of the foregoing (including any options to enter into any of the foregoing), whether or not any such transaction is governed by or subject to any master agreement and (b) any and all transactions of any

  
 9 

 
kind, and the related confirmations, which are subject to the terms and conditions of, or governed by, any form of master agreement published by the International Swaps and Derivatives
Association, Inc., any International Foreign Exchange Master Agreement, or any other master agreement (any such master agreement, together with any related schedules, a “Master Agreement”), including any such obligations or
liabilities under any Master Agreement. 
 “Uniform Commercial Code” or “UCC” means the New York UCC, or
the Uniform Commercial Code (or any similar or comparable legislation) of another jurisdiction, to the extent it may be required to apply to any item or items of Collateral. 

SECTION 1.02 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, other document, statute or regulation herein shall be construed as referring to such agreement, instrument, other document, statute or regulation as from time to time amended, amended and restated, supplemented or otherwise modified
(including pursuant to any permitted refinancing, extension, renewal, replacement, restructuring or increase (in each case, whether pursuant to one or more agreements or with different lenders or different agents), but 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 permitted assigns, but shall not be deemed to include the subsidiaries of such
Person unless express reference is made to such subsidiaries, and, in the case of any governmental authority, any other governmental authority that shall have succeeded to any or all of the functions thereof, (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 and Annexes shall be construed to refer to Articles, Sections and Annexes of this Agreement, (e) unless otherwise expressly qualified herein, the words “asset” and “property” shall be construed to
have the same meaning and effect and to refer to any and all tangible and intangible assets and properties, including cash, securities, accounts and contract rights and (f) the term “or” is not exclusive. 

ARTICLE II 

Priorities and Agreements with Respect to Shared Collateral 

SECTION 2.01 Subordination. 

(a) Notwithstanding the date, time, manner or order of filing or recordation of any document or instrument or grant, attachment or perfection
of any Liens granted to any Junior Representative or any other Junior Secured Parties on the Shared Collateral or of any Liens granted to any Senior Representative or any other Senior Secured Party on the Shared Collateral (or any actual or alleged
defect in any of the foregoing) and notwithstanding any provision of the UCC, any other applicable law, any Junior Debt Document or any Senior Debt Document or any other circumstance whatsoever, each Junior Representative, on behalf of itself and
each Junior Secured Party under its Junior Debt Facility, hereby agrees that any Lien on the Shared Collateral securing or purporting to secure any Senior Obligations now or hereafter held by or on behalf of any Senior Secured Party or any Senior
Representative or other agent or trustee therefor, regardless of how acquired, whether by grant, statute, operation of law, subrogation or otherwise, shall be senior in right, priority, operation, effect and all other respects and prior to any and
all Liens on the Shared Collateral securing or purporting to secure any Junior Obligations; and 

  
 10 

 (b) any Lien on the Shared Collateral securing or purporting to secure any Junior Obligations now
or hereafter held by or on behalf of any Junior Secured Parties or any Junior Representative or other agent or trustee therefor, regardless of how acquired, whether by grant, statute, operation of law, subrogation or otherwise, shall be junior and
subordinate in right, priority, operation, effect and all other respects to any and all Liens on the Shared Collateral securing or purporting to secure any Senior Obligations. All Liens on the Shared Collateral securing or purporting to secure any
Senior Obligations shall be and remain senior in right, priority, operation, effect and all other respects and prior to all Liens on the Shared Collateral securing or purporting to secure any Junior Obligations for all purposes, whether or not such
Liens securing or purporting to secure any Senior Obligations are subordinated to any Lien securing any other obligation of the Borrower, any other Grantor or any other Person or otherwise subordinated, voided, avoided, invalidated or lapsed. 

SECTION 2.02 Nature of Senior Lender Claims. Each Junior Representative, on behalf of itself and each Junior Secured Party under
its Junior Debt Facility, acknowledges that (a) a portion of the Senior Obligations may be revolving in nature and that the amount thereof that may be outstanding at any time or from time to time may be increased or reduced and subsequently
reborrowed, (b) the terms of the Senior Debt Documents and the Senior Obligations may be amended, supplemented or otherwise modified, and the Senior Obligations, or a portion thereof, may be Refinanced from time to time and
(c) the aggregate amount of the Senior Obligations may be increased, in each case, without notice to or consent by the Junior Representatives or the Junior Secured Parties and without affecting the provisions hereof so long as such
increase is not prohibited by the Junior Debt Documents then in effect. The Lien priorities provided for in Section 2.01 shall not be altered or otherwise affected by any amendment, supplement or other modification, or any permitted
Refinancing, of either the Senior Obligations or the Junior Obligations, or any portion thereof. As between the Borrower and the other Grantors and the Junior Secured Parties, the foregoing provisions will not limit or otherwise affect the
obligations of the Borrower and the other Grantors contained in any Junior Debt Document with respect to the incurrence of additional Senior Obligations. 

SECTION 2.03 Prohibition on Contesting Liens. Each of the Junior Representatives, for itself and on behalf of each Junior Secured
Party under its Junior Debt Facility, agrees that it shall not (and hereby waives any right to) contest or join or otherwise support any other Person in contesting, in any proceeding (including any Insolvency or Liquidation Proceeding), the
existence, validity, extent, perfection, allowability, priority or enforceability of any Lien securing, or any claims asserted with respect to, any Senior Obligations held (or purported to be held) by or on behalf of any of the Senior Secured
Parties or any Senior Representative or other agent or trustee therefor in any Senior Collateral, and the Designated Senior Representative and each other Senior Representative, for itself and on behalf of each Senior Secured Party under its Senior
Debt Facility, agrees that it shall not (and hereby waives any right to) contest or join or otherwise support any other Person in contesting, in any proceeding (including any Insolvency or Liquidation Proceeding), the existence, validity, extent,
perfection, allowability, priority or enforceability of any Lien securing, or any claims asserted with respect to, any Junior Obligations held (or purported to be held) by or on behalf of any Junior Representative or any of the Junior Secured
Parties in the Junior Collateral. Notwithstanding the foregoing, no provision in this Agreement shall be construed to prevent or impair the rights of the Designated Senior Representative or any other Senior Representative to enforce this Agreement
(including the priority of the Liens securing the Senior Obligations as provided in Section 2.01) or any of the Senior Debt Documents. 

SECTION 2.04 No New Liens. The parties hereto agree that, so long as the Discharge of Senior Obligations has not occurred
(i) except as otherwise permitted by the applicable Senior Debt Documents, none of the Grantors shall, or shall permit any of their Restricted Subsidiaries (as defined in the Senior Credit Agreement) to, grant or permit any additional
Liens on any asset or property of any Grantor to secure any Junior Obligation unless it has granted, or concurrently therewith grants, a Lien on 

  
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 such asset or property of such Grantor to secure the Senior Obligations; and (ii) if any Junior
Representative or any Junior Secured Party shall hold any Lien on any assets or property of any Grantor securing any Junior Obligations that are not also subject to the senior-priority Liens securing Senior Obligations under the Senior Collateral
Documents, such Junior Representative or Junior Secured Parties (x) shall notify the Designated Senior Representative promptly upon becoming aware thereof and, unless such Grantor shall promptly grant a similar Lien on such assets or
property to the Senior Representatives as security for the Senior Obligations, shall assign such Lien to the Designated Senior Representative as security for the Senior Obligations for the benefit of the Senior Secured Parties (but may retain a
junior lien on such assets or property subject to the terms hereof) and (y) until such assignment or such grant of a similar Lien to the Senior Representatives, shall be deemed to also hold and have held such Lien for the benefit of each
Senior Representative and the other Senior Secured Parties as security for the Senior Obligations. If any Junior Representative or any Junior Secured Parties shall, at any time, receive any Proceeds or payment from or as a result of any Liens
granted in contravention of this Section 2.04, it shall pay such Proceeds or payments over to the Designated Senior Representative in accordance with the terms of Section 4.02. 

(b) Subject to Section 2.06, the parties hereto agree that (i) except as otherwise permitted by the applicable Junior Debt Documents,
none of the Grantors shall, or shall permit any of their Restricted Subsidiaries (as defined in the Senior Credit Agreement) to, grant or permit any additional Liens on any asset or property of any Grantor to secure any Senior Obligations unless it
has granted, or concurrently therewith grants, a Lien on such asset or property of such Grantor to secure the Initial Junior Debt Obligations on a junior basis; and (ii) if any Senior Representative or any Senior Secured Party shall hold any
Lien on any assets or property of any Grantor securing any Senior Obligations that are not also subject to a junior-priority Lien securing the Initial Junior Debt Obligations, such Senior Representative or Senior Secured Parties (x) shall
notify the Designated Junior Representative promptly upon becoming aware thereof and (y) until such assignment or such grant of a similar Lien to the Junior Representatives, shall be deemed to also hold and have held such Lien for the benefit
of the applicable Junior Representatives and the other applicable Junior Secured Parties as security for the Initial Junior Debt Obligations. 

SECTION 2.05 Perfection of Liens. Except for the agreements of the Senior Representatives pursuant to Section 5.05
hereof, none of the Designated Senior Representative, the other Senior Representatives or the other Senior Secured Parties shall be responsible for perfecting and maintaining the perfection of Liens with respect to the Shared Collateral for the
benefit of the Junior Representatives or the Junior Secured Parties. The provisions of this Agreement are intended solely to govern the respective Lien priorities as between the Senior Secured Parties and the Junior Secured Parties and shall not
impose on the Designated Senior Representative, the other Senior Representatives, the Senior Secured Parties, the Junior Representatives, the Junior Secured Parties or any agent or trustee therefor any obligations in respect of the disposition of
Proceeds of any Shared Collateral which would conflict with prior perfected claims therein in favor of any other Person or any order or decree of any court or governmental authority or any applicable law. 

SECTION 2.06 Certain Cash Collateral. Notwithstanding anything in this Agreement or any other Senior Debt Documents or Junior Debt
Documents to the contrary, collateral consisting of cash and cash equivalents specifically pledged to secure Senior Obligations consisting of reimbursement obligations in respect of Letters of Credit shall not constitute Shared Collateral. 

SECTION 2.07 Refinancings. The Senior Credit Agreement Obligations of any Series may be Refinanced, in whole or in part, in each
case, without notice to, or the consent of (except to the extent consent is otherwise required to permit the Refinancing transaction under any Senior Debt Document) any party hereto, all without affecting the priorities provided for herein or the
other provisions 

  
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hereof; provided that the collateral agent of the holders of any such Refinancing indebtedness shall have executed a Joinder Agreement on behalf of the holders of such Refinancing indebtedness
and such collateral agent and Grantors shall have complied with Section 8.09 with respect to such Indebtedness. 
 ARTICLE III

 Enforcement 

SECTION 3.01 Exercise of Remedies.  

(a) So long as the Discharge of Senior Obligations has not occurred, whether or not any Insolvency or Liquidation Proceeding has been commenced
by or against the Borrower or any other Grantor, (i) neither any Junior Representative nor any other Junior Secured Party will (x) exercise or seek to exercise any rights or remedies (including setoff or recoupment) with respect to any
Shared Collateral in respect of any Junior Obligations, or institute any action or proceeding with respect to such rights or remedies (including any action of foreclosure), (y) contest, protest or object to any foreclosure proceeding or action
brought with respect to the Shared Collateral or any other Senior Collateral by the Designated Senior Representative, any other Senior Representative or any other Senior Secured Party in respect of the Senior Obligations, any exercise of any right
by the Designated Senior Representative, any other Senior Representative or any other Senior Secured Party (or any agent or sub-agent on their behalf) in respect of the Senior Obligations under any lockbox
agreement, control agreement, landlord waiver or bailee’s letter or similar agreement or arrangement to which the Designated Senior Representative, any other Senior Representative or any other Senior Secured Party either is a party or may have
rights as a third party beneficiary, or any other exercise by any such party of any rights and remedies relating to the Shared Collateral under the Senior Debt Documents or otherwise in respect of the Senior Collateral or the Senior Obligations, or
(z) object to the forbearance by the Senior Secured Parties from bringing or pursuing any foreclosure proceeding or action or any other exercise of any rights or remedies relating to the Shared Collateral in respect of Senior Obligations and
(ii) except as otherwise provided herein, the Designated Senior Representative, the other Senior Representatives and the other Senior Secured Parties shall have the exclusive right to enforce rights, exercise remedies (including setoff,
recoupment, and the right to credit bid their debt) and make determinations regarding the release, disposition or restrictions with respect to the Shared Collateral without any consultation with or the consent of any Junior Representative or any
Junior Secured Party; provided, however, that (A) in any Insolvency or Liquidation Proceeding commenced by or against the Borrower or any other Grantor, any Junior Representative may file a claim, proof of claim, or statement of
interest with respect to the Junior Obligations under its Junior Debt Facility, (B) any Junior Representative may take any action (not adverse to the prior Liens on the Shared Collateral securing the Senior Obligations or the rights of the
Designated Senior Representative, the other Senior Representatives or the Senior Secured Parties to exercise remedies in respect thereof) in order to create, prove, perfect, preserve or protect (but not enforce) its rights in, and perfection and
priority of its Lien on, the Shared Collateral, (C) to the extent not otherwise inconsistent with, or prohibited by, this Agreement, any Junior Representative and the Junior Secured Parties may exercise their rights and remedies as unsecured
creditors, to the extent provided in Section 5.04, (D) any Junior Representative may exercise the rights and remedies provided for in Section 6.03 and may vote on a proposed Plan of Reorganization
in any Insolvency or Liquidation Proceeding of a Borrower or any other Grantor in accordance with the terms of this Agreement (including Section 6.12), (E) any Junior Representative and the Junior Secured Parties may file any necessary
or appropriate responsive or defensive pleadings in opposition to any motion, claim, adversary proceeding or other pleading made by any Person objecting to or otherwise seeking the disallowance of the claims or Liens of the Junior Secured Parties,
including any claims secured by the Junior Collateral, in each case in accordance with the terms of this Agreement and 

  
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(F) from and after the Junior Enforcement Date, the Designated Junior Representative or any person authorized by it may exercise or seek to exercise any rights or remedies with respect to any
Shared Collateral in respect of any Junior Obligations, or institute any action or proceeding with respect to such rights or remedies (including any action of foreclosure), but only so long as (1) the Designated Senior Representative has not
commenced and is not diligently pursuing any enforcement action with respect to any material portion of the Shared Collateral or (2) the Grantor which has granted a security interest in any Shared Collateral is not then a debtor under or with
respect to (or otherwise subject to) any Insolvency or Liquidation Proceeding, in each case (A) through (F) above, to the extent such action is not inconsistent with, or could not result in a resolution inconsistent with, the terms of this
Agreement. In exercising rights and remedies with respect to the Senior Collateral, the Designated Senior Representative, the other Senior Representatives and the other Senior Secured Parties may enforce the provisions of the Senior Debt Documents
and exercise remedies thereunder, all in such order and in such manner as they may determine in the exercise of their sole discretion. Such exercise and enforcement shall include the rights of an agent appointed by them to sell or otherwise dispose
of Shared Collateral upon foreclosure, to incur expenses in connection with such sale or disposition and to exercise all the rights and remedies of a secured lender under the Uniform Commercial Code of any applicable jurisdiction and of a secured
creditor under Bankruptcy Laws of any applicable jurisdiction. 
 (b) So long as the Discharge of Senior Obligations has not occurred, each
Junior Representative, on behalf of itself and each Junior Secured Party under its Junior Debt Facility, agrees that it will not take or receive any Shared Collateral or any Proceeds of Shared Collateral in connection with the exercise of any right
or remedy (including setoff or recoupment) with respect to any Shared Collateral in respect of Junior Obligations. Without limiting the generality of the foregoing, unless and until the Discharge of Senior Obligations has occurred, except as
expressly provided in the proviso in Section 3.01(a) and in Article VI, the sole right of the Junior Representatives and the Junior Secured Parties with respect to the Shared Collateral is to hold a Lien on the
Shared Collateral in respect of Junior Obligations pursuant to the Junior Debt Documents for the period and to the extent granted therein and to receive a share of the Proceeds thereof, if any, after the Discharge of Senior Obligations has occurred.

 (c) Subject to the proviso in Section 3.01(a), (i) each Junior Representative, for itself and on behalf of each
Junior Secured Party under its Junior Debt Facility, agrees that neither such Junior Representative nor any such Junior Secured Party will take any action that would hinder or interfere with any exercise of remedies undertaken by the Designated
Senior Representative, any other Senior Representative or any other Senior Secured Party with respect to the Shared Collateral under the Senior Debt Documents, including any sale, lease, exchange, transfer or other disposition of the Shared
Collateral, whether by foreclosure or otherwise, and (ii) each Junior Representative, for itself and on behalf of each Junior Secured Party under its Junior Debt Facility, hereby waives any and all rights it or any such Junior Secured Party may
have as a junior lien creditor or otherwise to object to the manner in which the Designated Senior Representative, the other Senior Representatives or the other Senior Secured Parties seek to enforce or collect the Senior Obligations or the Liens
granted on any of the Senior Collateral, regardless of whether any action or failure to act by or on behalf of the Designated Senior Representative, any other Senior Representative or any other Senior Secured Party is adverse to the interests of the
Junior Secured Parties. 
 (d) Each Junior Representative hereby acknowledges and agrees that no covenant, agreement or restriction contained
in any Junior Debt Document shall be deemed to restrict in any way the rights and remedies of the Designated Senior Representative, the other Senior Representatives or the Senior Secured Parties with respect to the Senior Collateral as set forth in
this Agreement and the Senior Debt Documents. 

  
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 (e) Subject to the proviso in Section 3.01(a), until the Discharge of
Senior Obligations, the Designated Senior Representative (or any Person authorized by it) shall have the exclusive right to exercise any right or remedy with respect to the Shared Collateral and shall have the exclusive right to determine and direct
the time, method and place for exercising such right or remedy or conducting any proceeding with respect thereto. Following the Discharge of Senior Obligations, the Designated Junior Representative (or any Person authorized by it) shall have the
exclusive right to exercise any right or remedy with respect to the Junior Collateral and shall have the exclusive right to direct the time, method and place of exercising or conducting any proceeding for the exercise of any right or remedy
available to the Junior Secured Parties with respect to the Junior Collateral, or of exercising or directing the exercise of any trust or power conferred on the Junior Representatives, or for the taking of any other action authorized by the Junior
Collateral Documents; provided, however, that nothing in this Section 3.01(e) shall impair the right of any Junior Representative or other agent or trustee acting on behalf of the Junior Secured Parties to
take such actions with respect to the Junior Collateral after the Discharge of Senior Obligations as may be otherwise required or authorized pursuant to any intercreditor agreement governing the Junior Secured Parties or the Junior Obligations. 

SECTION 3.02 Cooperation. Subject to the proviso in Section 3.01(a), each Junior Representative, on behalf of itself
and each Junior Secured Party under its Junior Debt Facility, agrees that, unless and until the Discharge of Senior Obligations has occurred, it will not commence, or join with any Person (other than the Senior Representative and the other Senior
Secured Parties upon the request of the Designated Senior Representative) in commencing, any enforcement, collection, execution, levy or foreclosure action or proceeding with respect to any Lien held by it in the Shared Collateral under any of the
Junior Debt Documents or otherwise in respect of the Junior Obligations. 
 SECTION 3.03 Actions upon Breach. Should any Junior
Representative or any Junior Secured Party, contrary to this Agreement, in any way take, attempt to take or threaten to take any action with respect to the Shared Collateral (including any attempt to realize upon or enforce any remedy with respect
to this Agreement) or fail to take any action required by this Agreement, the Designated Senior Representative or any other Senior Representative or other Senior Secured Party (in its or their own name or in the name of the Borrower or any other
Grantor) or the Borrower may obtain relief against such Junior Representative or such Junior Secured Party by injunction, specific performance or other appropriate equitable relief. Each Junior Representative, on behalf of itself and each Junior
Secured Party under its Junior Debt Documents, hereby (i) agrees that the Senior Secured Parties’ damages from the actions of the Junior Representatives or any Junior Secured Party may at that time be difficult to ascertain and may
be irreparable and waives any defense that a Borrower, any other Grantor or the Senior Secured Parties cannot demonstrate damage or be made whole by the awarding of damages and (ii) irrevocably waives any defense based on the adequacy of a
remedy at law and any other defense that might be asserted to bar the remedy of specific performance in any action that may be brought by the Designated Senior Representative, any other Senior Representative or any other Senior Secured Party. 

ARTICLE IV 
 Payments

 SECTION 4.01 Application of Proceeds. After an Event of Default (under and as defined in any Senior Debt Document)
has occurred and until such Event of Default is cured or waived, so long as the Discharge of Senior Obligations has not occurred, the Shared Collateral or Proceeds thereof received in connection with the sale or other disposition of, or collection
on, such Shared Collateral upon the exercise of remedies or in any Insolvency or Liquidation Proceeding shall be applied by the Designated Senior Representative to the Senior Obligations in such order as specified in the First Lien Intercreditor
Agreement (if any) and the relevant Senior Debt Documents until the Discharge of Senior Obligations has occurred (together with, in the case of repayment of any revolving credit or similar loans, a permanent reduction in the commitments thereunder).
Upon the Discharge of Senior Obligations, the Designated Senior Representative shall deliver promptly to the Designated Junior Representative any Shared Collateral or Proceeds thereof held by it in the same form as received, with any necessary
endorsements, or as a court of competent jurisdiction may otherwise direct, to be applied by the Designated Junior Representative to the Junior Obligations in such order as specified in the relevant Junior Debt Documents. 

  
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 SECTION 4.02 Payments Over. Unless and until the Discharge of Senior Obligations has
occurred, any Shared Collateral or Proceeds thereof received by any Junior Representative or any Junior Secured Party in connection with the exercise of any right or remedy (including setoff or recoupment), (except as otherwise set forth in
Article VI) in any Insolvency or Liquidation Proceeding, or otherwise relating to the Shared Collateral in contravention of this Agreement shall be segregated and held in trust for the benefit of and forthwith paid over to the Designated
Senior Representative for the benefit of the Senior Secured Parties in the same form as received and applied pursuant to Section 4.01, with any necessary endorsements, or as a court of competent jurisdiction may otherwise
direct. The Designated Senior Representative is hereby authorized to make any such endorsements as agent for each of the Junior Representatives or any such Junior Secured Party. This authorization is coupled with an interest and is irrevocable. 

ARTICLE V 
 Other
Agreements 
 SECTION 5.01 Releases. 

(a) Each Junior Representative, for itself and on behalf of each Junior Secured Party under its Junior Debt Facility, agrees that, in the event
of a sale, transfer or other disposition of any specified item of Shared Collateral (including all or substantially all of the equity interests of any subsidiary of the Borrower), the Liens granted to the Junior Representatives and the Junior
Secured Parties upon such Shared Collateral to secure Junior Obligations shall terminate and be released, automatically and without any further action, concurrently with the termination and release of all Liens granted upon such Shared Collateral to
secure Senior Obligations; provided that, in the case of any sale, transfer, or other disposition in connection with the enforcement or exercise of any rights or remedies by the Senior Secured Parties with respect to the Shared Collateral,
the Proceeds thereof are (i) applied in accordance with Section 4.01 and (ii) subject to the priorities set forth herein and to the provisions of Section 5.01(c). Upon delivery to a Junior Representative of an
Officer’s Certificate stating that any such termination and release of Liens securing the Senior Obligations has become effective (or shall become effective concurrently with such termination and release of the Liens granted to the Junior
Secured Parties and the Junior Representatives) and any necessary or proper instruments of termination or release prepared by a Borrower or any other Grantor, such Junior Representative will promptly execute, deliver or acknowledge, at either
Borrower’s or any other Grantor’s sole cost and expense, such instruments to evidence such termination and release of the Liens. Nothing in this Section 5.01(a) will be deemed to affect any agreement of a Junior
Representative, for itself and on behalf of the Junior Secured Parties under its Junior Debt Facility, to release the Liens on the Junior Collateral as set forth in the relevant Junior Debt Documents. 

(b) Each Junior Representative, for itself and on behalf of each Junior Secured Party under its Junior Debt Facility, hereby irrevocably
constitutes and appoints each Senior Representative and any officer or agent of each Senior Representative, with full power of substitution, as its true and lawful
attorney-in-fact with full irrevocable power and authority in the place and stead of such Junior Representative or such Junior Secured Party or in such Senior
Representative’s own name, from time to time in such Senior Representative’s discretion, for the purpose of carrying out the terms of Section 5.01(a), to take any and all appropriate action and to execute any and
all documents and instruments that may be necessary or desirable to accomplish the purposes of Section 5.01(a), including any termination statements, endorsements or other instruments of transfer or release. 

  
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 (c) Unless and until the Discharge of Senior Obligations has occurred, each Junior
Representative, for itself and on behalf of each Junior Secured Party under its Junior Debt Facility, hereby consents to the application, whether prior to or after an Event of Default (under any Senior Debt Document), of Proceeds of Shared
Collateral to the repayment of Senior Obligations pursuant to the Senior Debt Documents; provided that nothing in this Section 5.01(c) shall be construed to prevent or impair the rights of the Junior Representatives
or the Junior Secured Parties to receive Proceeds in connection with the Junior Obligations not otherwise in contravention of this Agreement. 

(d) Notwithstanding anything to the contrary in any Junior Collateral Document, in the event the terms of a Senior Collateral Document and a
Junior Collateral Document each require any Grantor (i) to make payment in respect of any item of Shared Collateral, (ii) to deliver or afford control over any item of Shared Collateral to, or deposit any item of Shared Collateral with,
(iii) to register ownership of any item of Shared Collateral in the name of or make an assignment of ownership of any Shared Collateral or the rights thereunder to, (iv) cause any securities intermediary, commodity intermediary or other
Person acting in a similar capacity to agree to comply, in respect of any item of Shared Collateral, with instructions or orders from, or to treat, in respect of any item of Shared Collateral, as the entitlement holder, (v) hold any item of
Shared Collateral in trust for (to the extent such item of Shared Collateral cannot be held in trust for multiple parties under applicable law), (vi) obtain the agreement of a bailee or other third party to hold any item of Shared Collateral for the
benefit of or subject to the control of or, in respect of any item of Shared Collateral, to follow the instructions of, or (vii) obtain the agreement of a landlord with respect to access to leased premises where any item of Shared Collateral is
located or waivers or subordination of rights with respect to any item of Shared Collateral in favor of, in any case, both the Designated Senior Representative and any Junior Representative or any Junior Secured Party, such Grantor may, until the
applicable Discharge of Senior Obligations has occurred, comply with such requirement under the Junior Collateral Document as it relates to such Shared Collateral by taking any of the actions set forth above only with respect to, or in favor of, the
Designated Senior Representative. 
 SECTION 5.02 Insurance and Condemnation Awards. Unless and until the Discharge of Senior
Obligations has occurred, the Designated Senior Representative and the other Senior Secured Parties shall have the sole and exclusive right, subject to the rights of the Grantors under the Senior Debt Documents, (a) to adjust settlement for any
insurance policy covering the Shared Collateral in the event of any loss thereunder and (b) to approve any award granted in any condemnation or similar proceeding affecting the Shared Collateral. Unless and until the Discharge of Senior
Obligations has occurred, all Proceeds of any such policy and any such award, if in respect of the Shared Collateral, shall be paid (i) first, prior to the occurrence of the Discharge of Senior Obligations, to the Designated Senior
Representative for the benefit of Senior Secured Parties pursuant to the terms of the Senior Debt Documents, (ii) second, after the occurrence of the Discharge of Senior Obligations, to the Designated Junior Representative for the benefit of
the Junior Secured Parties pursuant to the terms of the applicable Junior Debt Documents and (iii) third, if no Junior Obligations are outstanding, to the owner of the subject property, such other Person as may be entitled thereto or as a court
of competent jurisdiction may otherwise direct. If any Junior Representative or any Junior Secured Party shall, at any time, receive any Proceeds of any such insurance policy or any such award in contravention of this Agreement, it shall pay such
Proceeds over to the Designated Senior Representative in accordance with the terms of Section 4.02. 

  
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 SECTION 5.03 Junior Debt Documents and Amendments Thereto. 

(a) Without the prior written consent of the Designated Senior Representative, no Junior Collateral Document may be amended, supplemented or
otherwise modified or entered into to the extent such amendment, supplement or modification, or the terms of any new Junior Collateral Document, would be prohibited by or inconsistent with any of the terms of this Agreement. Each Junior Collateral
Document shall be in substantially the same form as the corresponding Senior Collateral Document, with modifications necessary to reflect the junior priority status of the Liens granted pursuant thereto. The Borrower agrees to deliver to the
Designated Senior Representative copies of (i) any amendments, supplements or other modifications to the Junior Collateral Documents and (ii) any new Junior Collateral Documents promptly after effectiveness thereof. Each Junior
Representative, for itself and on behalf of each Junior Secured Party under its Junior Debt Facility, agrees that each Junior Collateral Document under its Junior Debt Facility relating to the Shared Collateral shall include the following language
(or language to similar effect reasonably approved by the Designated Senior Representative): 
 “Notwithstanding anything herein to the
contrary, (i) the liens and security interests granted to the Junior Representative pursuant to this Agreement are expressly subject and subordinate to the liens and security interests granted in favor of the Senior Secured Parties (as defined
in the First Lien/Second Lien Intercreditor Agreement referred to below), including liens and security interests granted to (A) Credit Suisse AG, Cayman Islands Branch, as collateral agent, pursuant to or in connection with the Senior Credit
Agreement, dated as of February 9, 2018 (as amended, restated, amended and restated, supplemented or otherwise modified from time to time), among Ditech Holding Corporation (f/k/a Walter Investment Management Corp.), a Maryland corporation, the
Lenders from time to time party thereto, and Credit Suisse AG, Cayman Islands Branch, as administrative agent and collateral agent and (B) [INSERT NAME], as [INSERT CAPACITY], pursuant to or in connection with the [Additional Senior Debt Document]
(as amended, restated, amended and restated, supplemented or otherwise modified from time to time), among [INSERT NAME] and the other parties thereto, and (ii) the exercise of any right or remedy by the Junior Representative hereunder is
subject to the limitations and provisions of the First Lien/Second Lien Intercreditor Agreement dated as of February 9, 2018 (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “First
Lien/Second Lien Intercreditor Agreement”), among Credit Suisse AG, Cayman Islands Branch, as Senior Collateral Agent, Wilmington Savings Fund Society, FSB, as Junior Collateral Agent, and each of the other agents and representatives party
thereto. In the event of any conflict between the terms of the First Lien/Second Lien Intercreditor Agreement and the terms of this Agreement, the terms of the First Lien/Second Lien Intercreditor Agreement shall govern.” 

(b) In the event that each applicable Senior Representative and/or the Senior Secured Parties enter into any amendment, waiver or consent in
respect of any of the Senior Collateral Documents for the purpose of adding to or deleting from, or waiving or consenting to any departures from any provisions of, any Senior Collateral Document or changing in any manner the rights of the Designated
Senior Representative, the Senior Secured Parties, the Borrower or any other Grantor thereunder (including the release of any Liens in Senior Collateral), in a manner that is applicable to all Senior Debt Facilities, then such amendment, waiver or
consent shall apply automatically to any comparable provision 

  
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of the comparable Junior Collateral Documents without the consent of any Junior Representative or any Junior Secured Party and without any action by any Junior Representative, either Borrower or
any other Grantor; provided, however, (i) no such amendment, waiver or consent shall have the effect of (A) removing assets subject to the Liens of the Junior Collateral Documents or release any such Liens, except to the extent that a
release of such Lien is permitted or required by Section 5.01(a) and provided that there is a corresponding release of the Lien securing the Senior Obligations, (B) imposing duties that are adverse on any Junior Representative without its
consent or (C) altering the terms of the Junior Debt Documents to permit other Liens on the Collateral not permitted under the terms of the Junior Debt Documents as in effect on the date hereof or Article VI and (ii) that written notice of
such amendment, waiver or consent shall have been given to each Junior Representative within 10 Business Days after the effectiveness of such amendment, waiver or consent; provided that the failure to give such notice shall not affect the
effectiveness and validity thereof. 
 (c) The Senior Debt Documents may be amended, restated, amended and restated, supplemented or
otherwise modified in accordance with their terms without the consent of any Junior Secured Party; provided, however, that, without the consent of the Junior Representatives, no such amendment, restatement, amendment and
restatement, supplement, modification or Refinancing (or successive amendments, restatements, amendments and restatements, supplements, modifications or Refinancings) shall contravene any provision of this Agreement. 

(d) The Junior Debt Documents may be amended, restated, amended and restated, supplemented or otherwise modified from time to time in
accordance with their terms and the Junior Class Debt of any Series may be Refinanced subject to Section 8.09, without the consent of any Senior Secured Party, all without affecting the lien subordination or other
provisions of this Agreement, to the extent the terms and conditions of such amendment, restatement, amendment and restatement, supplement, modification or Refinancing meet any applicable requirements set forth in the Senior Credit Agreement Loan
Documents (including, without limitation, Section 6.10(b) of the Senior Credit Agreement); provided that any such amendment, restatement, amendment and restatement, supplement, modification or Refinancing is not in
contravention of the terms of this Agreement and, in the case of any Refinancing, the holders of such Refinancing debt (directly or through their agent) bind themselves in a writing addressed to each Senior Collateral Agent to the terms of this
Agreement; provided, further, that any such amendment, supplement, modification or Refinancing shall not, without the consent of each Senior Representative, prohibit the scheduled payment of principal or interest or any other amount
under the Senior Credit Agreement Loan Documents when due. 
 SECTION 5.04 Rights as Unsecured Creditors. Subject to the
subordination provisions of the Junior Debt Documents, the Junior Representatives and the Junior Secured Parties may exercise rights and remedies as unsecured creditors against either Borrower and any other Grantor in accordance with the terms of
the Junior Debt Documents and applicable law so long as such rights and remedies do not violate, or are not otherwise inconsistent with, any other provision of this Agreement (including any provision prohibiting or restricting the Junior
Representatives or the Junior Secured Parties from taking various actions or making various objections). Nothing in this Agreement shall prohibit the receipt by any Junior Representative or any Junior Secured Party of the required payments of
principal, premium, interest, fees and other amounts due under the Junior Debt Documents so long as such receipt is not the direct or indirect result of the exercise by a Junior Representative or any Junior Secured Party of rights or remedies as a
secured creditor in respect of Shared Collateral or in violation of the subordination provisions thereof. In the event any Junior Representative or any Junior Secured Party becomes a judgment lien creditor in respect of Shared Collateral as a result
of its enforcement of its rights as an unsecured creditor in respect of Junior Obligations, such judgment lien shall be subordinated to the Liens securing Senior Obligations on the same basis as the other Liens securing the Junior Obligations are so
subordinated to such Liens securing Senior Obligations under this Agreement. Nothing in this Agreement shall impair or otherwise adversely affect any rights or remedies the Designated Senior Representative, the other Senior Representatives or the
other Senior Secured Parties may have with respect to the Senior Collateral. 

  
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 SECTION 5.05 Gratuitous Bailee for Perfection. 

(a) Each Senior Representative acknowledges and agrees that if it shall at any time hold a Lien securing any Senior Obligations on any Shared
Collateral that can be perfected by the possession or control of such Shared Collateral or of any account in which such Shared Collateral is held, and if such Shared Collateral or any such account is in fact in the possession or under the control of
such Senior Representative, or of agents or bailees of such Senior Representative (such Shared Collateral being referred to herein as the “Pledged or Controlled Collateral”), or if it shall at any time obtain any landlord waiver or
bailee’s letter or any similar agreement or arrangement granting it rights or access to Shared Collateral, such Senior Representative shall also hold such Pledged or Controlled Collateral, or take such actions with respect to such landlord
waiver, bailee’s letter or similar agreement or arrangement, as sub-agent or gratuitous bailee for the relevant Junior Representatives, in each case solely for the purpose of perfecting the Liens granted
under the relevant Junior Collateral Documents and subject to the terms and conditions of this Section 5.05. 
 (b)
In the event that the Senior Collateral Agent (or its agents or bailees) has Lien filings against Intellectual Property that is part of the Shared Collateral that are necessary for the perfection of Liens in such Shared Collateral, the Senior
Collateral Agent agrees to hold such Liens as sub-agent and gratuitous bailee for the relevant Junior Representatives and any assignee thereof, solely for the purpose of perfecting the security interest
granted in such Liens pursuant to the relevant Junior Collateral Documents, subject to the terms and conditions of this Section 5.05. 

(c) Except as otherwise specifically provided herein, until the Discharge of Senior Obligations has occurred, each Senior Representative shall
be entitled to deal with the Pledged or Controlled Collateral in accordance with the terms of the Senior Debt Documents as if the Liens under the Junior Collateral Documents did not exist. The rights of the Junior Representatives and the Junior
Secured Parties with respect to the Pledged or Controlled Collateral shall at all times be subject to the terms of this Agreement. 
 (d) No
Senior Representative shall have any obligation whatsoever to the Junior Representatives or any Junior Secured Party to assure that any of the Pledged or Controlled Collateral is genuine or owned by the Grantors or to protect or preserve rights or
benefits of any Person or any rights pertaining to the Shared Collateral, except as expressly set forth in this Section 5.05. The duties or responsibilities of each Senior Representative under this
Section 5.05 shall be limited solely to holding or controlling the Shared Collateral and the related Liens referred to in paragraphs (a) and (b) of this Section 5.05 as sub-agent and gratuitous bailee for the relevant Junior Representative for purposes of perfecting the Lien held by such Junior Representative. 

(e) No Senior Representative shall have by reason of the Junior Collateral Documents or this Agreement, or any other document, a fiduciary
relationship in respect of any Junior Representative or any Junior Secured Party, and each Junior Representative, for itself and on behalf of each Junior Secured Party under its Junior Debt Facility, hereby waives and releases each Senior
Representative from all claims and liabilities arising pursuant to such Senior Representative’s role under this Section 5.05 as sub-agent and gratuitous bailee with respect to
the Shared Collateral. 

  
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 (f) Upon the Discharge of Senior Obligations, each applicable Senior Representative shall, at the
Grantors’ sole cost and expense, (i) (A) deliver to the Designated Junior Representative, to the extent that it is legally permitted to do so, all Shared Collateral, including all Proceeds thereof, held or controlled by such Senior
Representative or any of its agents or bailees, including the transfer of possession and control, as applicable, of the Pledged or Controlled Collateral, together with any necessary endorsements and notices to depositary banks, securities
intermediaries and commodities intermediaries, and assign its rights under any landlord waiver or bailee’s letter or any similar agreement or arrangement granting it rights or access to Shared Collateral; provided that (x) if the
Designated Junior Representative is not party to an existing control agreement governing a deposit account, then the Senior Collateral Agent shall not terminate such control agreement until the earlier of the date on which the Designated Junior
Representative is able to obtain control over such deposit account or 90 days following the Discharge of Senior Obligations (such date, the “DACA Termination Date”), and (y) that the Senior Collateral Agent shall remain sub-agent or gratuitous bailee for the Designated Junior Representative until the DACA Termination Date, solely for the purpose of perfecting the security interest granted in any such deposit account pursuant to the
relevant Junior Collateral Documents (it being understood and agreed that, during such period, the Senior Collateral Agent shall be deemed to be a sub-agent of the Designated Junior Representative under the
Junior Debt Documents solely for the purpose set forth in this proviso and, in such capacity, all the indemnification and expense reimbursement provisions accruing to the benefit of the Designated Junior Representative contained in the Junior Debt
Documents shall accrue to the benefit of the Senior Collateral Agent), or (B) direct and deliver such Shared Collateral as a court of competent jurisdiction may otherwise direct, (ii) notify any applicable insurance carrier that it is no
longer entitled to be a loss payee or additional insured under the insurance policies of any Grantor issued by such insurance carrier and (iii) notify any governmental authority involved in any condemnation or similar proceeding involving any
Grantor that the Designated Junior Representative is entitled to approve any awards granted in such proceeding. The Borrower and the other Grantors shall take such further action as is required to effectuate the transfer contemplated hereby and
shall indemnify each Senior Representative for loss or damage suffered by such Senior Representative as a result of such transfer, except for loss or damage suffered by such Senior Representative as a result of its own willful misconduct, gross
negligence or bad faith (in each case, as determined by a final non-appealable judgment of a court of competent jurisdiction). No Senior Representative shall have any obligation to follow instructions from the
Designated Junior Representative or any other Junior Secured Party in contravention of this Agreement. 
 (g) Neither the Designated Senior
Representative nor any of the other Senior Representatives or Senior Secured Parties shall be required to marshal any present or future collateral security for any obligations of the Borrower or any other Grantor to the Designated Senior
Representative, any other Senior Representative or any other Senior Secured Party under the Senior Debt Documents or any assurance of payment in respect thereof, or to resort to such collateral security or other assurances of payment in any
particular order, and all of their rights in respect of such collateral security or any assurance of payment in respect thereof shall be cumulative and in addition to all other rights, however existing or arising. 

SECTION 5.06 When Discharge of Senior Obligations Deemed to Not Have Occurred. If, at any time substantially concurrently with or
after the Discharge of Senior Obligations has occurred, a Borrower or any other Grantor consummates any Refinancing or incurs any Senior Obligations (other than in respect of the payment of indemnities surviving the Discharge of Senior Obligations)
and such Refinancing or incurrence, as applicable, satisfies the conditions set forth in Section 2.07, then the Discharge of Senior Obligations shall automatically be deemed not to have occurred for all purposes of this Agreement (other than
with respect to any actions taken prior to the date of such designation as a result of the occurrence of such first Discharge of Senior Obligations) and the applicable agreement governing such Senior Obligations shall automatically be treated as a
Senior Debt Document for all purposes of this Agreement, including for purposes of the Lien priorities and rights in respect of Shared Collateral set forth herein and the granting by the Designated Senior Representative of amendments, waivers and
consents hereunder and the agent, representative or trustee for the holders of such Senior 

  
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Obligations shall be a Senior Representative for all purposes of this Agreement. Upon receipt of notice of such incurrence (including the identity of the new Designated Senior Representative),
each Junior Representative (including the Designated Junior Representative) shall promptly (a) enter into such documents and agreements (at the expense of the Borrower), including amendments or supplements to this Agreement, as the Borrower or
such new Senior Representative shall reasonably request in writing in order to provide the new Senior Representative the rights of a Senior Representative contemplated hereby and (b) deliver to the Designated Senior Representative, to the
extent that it is legally permitted to do so, all Shared Collateral, including all Proceeds thereof, held or controlled by such Junior Representative or any of its agents or bailees, including the transfer of possession and control, as applicable,
of the Pledged or Controlled Collateral, together with any necessary endorsements and notices to depositary banks, securities intermediaries and commodities intermediaries, and assign its rights under any landlord waiver or bailee’s letter or
any similar agreement or arrangement granting it rights or access to Shared Collateral. 
 SECTION 5.07 Purchase Right. 

(a) Without prejudice to the enforcement of the Senior Secured Parties’ remedies in accordance with the Senior Debt Documents and this
Agreement, the Senior Secured Parties agree that following (i) the acceleration of the Senior Obligations in accordance with the terms of the Senior Debt Documents or (ii) the commencement of an Insolvency or Liquidation Proceeding by any
Grantor (each, a “Purchase Event”), within sixty (60) days of the Purchase Event, one or more of the Junior Secured Parties may request, and the Senior Secured Parties hereby offer the Junior Secured Parties, the option to
purchase all, but not less than all, of the aggregate amount of Senior Obligations outstanding at the time of purchase at par, plus any premium that would be applicable upon prepayment of the Senior Obligations and accrued and unpaid interest, fees,
and expenses without warranty or representation or recourse (except for representations and warranties required to be made by assigning lenders pursuant to the Assignment and Acceptance (as such term is defined in the Senior Credit Agreement)). If
such purchase right is timely exercised, the parties shall endeavor to close promptly thereafter but in any event within twenty-five (25) days of the request. If one or more of the Junior Secured Parties timely exercises such purchase right, it
shall be exercised pursuant to documentation mutually acceptable to each of the Senior Representatives and the Junior Representatives. If none of the Junior Secured Parties timely exercises such purchase right, the Senior Secured Parties shall have
no further obligations pursuant to this Section 5.07 for such Purchase Event and may take any further actions in their sole discretion in accordance with the Senior Debt Documents and this Agreement. 

(b) The Junior Secured Parties agree, solely as among themselves, that upon the occurrence of any Purchase Event, that each Junior Secured
Party shall have the option to purchase at least its pro rata share (calculated based on the aggregate Junior Obligations) of the Senior Obligations. No Junior Secured Party shall be required to participate in any purchase offer hereunder, and a
purchase offer may be accepted by any or all of them, subject to the requirements of this Section 5.07. The provisions of this Section 5.07(b) are intended solely for the benefit of such Junior Secured Parties and may be modified, amended
or waived by them without the approval of any other Person. 
 ARTICLE VI 

Insolvency or Liquidation Proceedings. 

SECTION 6.01 Financing and Sale Issues. Until the Discharge of Senior Obligations has occurred, if a Borrower or any other Grantor
shall be subject to any Insolvency or Liquidation Proceeding and the Designated Senior Representative or any other Senior Representative shall desire to consent (or not object) to, as applicable, the sale, use or lease of cash or other collateral or
to consent (or not object) to a Borrower’s or any other Grantor’s obtaining financing under Section 363 or Section 364 of the 

  
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Bankruptcy Code or any similar provision of any other Bankruptcy Law to be secured by the Shared Collateral (“DIP Financing”), then each Junior Representative, for itself and on
behalf of each Junior Secured Party under its Junior Debt Facility, agrees that it will (as applicable) raise no objection to and will not otherwise contest and will be deemed to have consented to such sale, use or lease of such cash or other
collateral or such DIP Financing and, except to the extent permitted by the proviso in Section 3.01(a) and Section 6.03, will not request adequate protection or any other relief in connection therewith and, to the extent the Liens securing
any Senior Obligations are subordinated to or pari passu with such DIP Financing, will subordinate (and will be deemed hereunder to have subordinated) its Liens in the Shared Collateral to (x) such DIP Financing (and all obligations relating
thereto) on the same basis as the Liens securing the Junior Obligations are so subordinated to Liens securing Senior Obligations under this Agreement, (y) any adequate protection Liens provided to the Senior Secured Parties, and (z) any “carve-out” for professional and United States Trustee fees agreed to by the Designated Senior Representative, and the Designated Junior Representative, for itself and on behalf of each Junior Secured
Party under its Junior Debt Facility, agrees that notice received two Business Days prior to the entry of an order approving such usage of cash or other collateral or approving such DIP Financing shall be adequate notice; provided that the Junior
Secured Parties may object to such DIP Financing or such use of cash collateral as unsecured creditors. Each Junior Representative, for itself and on behalf of each Junior Secured Party under its Junior Debt Facility, further agrees that, until the
Discharge of Senior Obligations has occurred, it will (as applicable) raise no objection to and will not otherwise contest, (a) any motion for relief from the automatic stay or from any injunction against foreclosure or enforcement in respect
of Senior Obligations with respect to the Senior Collateral made by the Designated Senior Representative, any other Senior Representative or any other Senior Secured Party, (b) any lawful exercise by any Senior Secured Party of the right to
credit bid Senior Obligations at any sale in foreclosure of Senior Collateral (including, without limitation, pursuant to Section 363(k) of the Bankruptcy Code or any similar provision under any other applicable Bankruptcy Law) or to exercise
any rights under Section 1111(b) of the Bankruptcy Code (or any similar provision under any other applicable Bankruptcy Law) with respect to the Senior Collateral, (c) any other request for judicial relief made in any court by any Senior
Secured Party relating to the lawful enforcement of any Lien on Senior Collateral or (d) any order relating to a sale or other disposition of any or all of the Senior Collateral for which the Designated Senior Representative has consented that
provides, to the extent such sale or other disposition is to be free and clear of Liens, that the Liens securing the Senior Obligations and the Junior Obligations will attach to the Proceeds of the sale on the same basis of priority as the Liens on
the Shared Collateral securing the Senior Obligations rank to the Liens on the Shared Collateral securing the Junior Obligations pursuant to this Agreement, provided that the Junior Secured Parties may assert any objection to the proposed bidding or
related procedures to be utilized in connection with any sale or disposition that could be asserted by an unsecured creditor in an Insolvency or Liquidation Proceeding. Without limiting the foregoing, each Junior Representative, for itself and on
behalf of each Junior Secured Party under its Junior Debt Facility, agrees that it may not raise any objections based on rights afforded by Sections 363(e) or Section 363(f) of the Bankruptcy Code or any similar provision of any other
Bankruptcy Law. In addition, the Junior Secured Parties are not deemed to have waived any rights to credit bid on the Shared Collateral in any such sale or disposition in accordance with Section 363(k) of the Bankruptcy Code (or any similar
provision under any other applicable Bankruptcy Law), so long as any such credit bid provides for the payment in full in cash of the Senior Obligations (other than in respect of contingent indemnification and expense reimbursement claims not then
due). No Junior Secured Party or Junior Representative may provide DIP Financing to the Borrower or any other Grantor secured by Liens equal to or senior in priority to the Liens securing any Senior Obligations unless the proceeds of such DIP
Financing are applied to Discharge the Senior Obligations, but may provide DIP Financing that is junior in priority to the Liens securing any Senior Obligations. 

SECTION 6.02 Relief from the Automatic Stay. Until the Discharge of Senior Obligations has occurred, each Junior Representative,
for itself and on behalf of each Junior Secured Party under its Junior Debt Facility, agrees that none of them shall seek relief from the automatic stay or any other stay in any Insolvency or Liquidation Proceeding or take any action in derogation
thereof, in each case in respect of any Shared Collateral, without the prior written consent of the Designated Senior Representative. 

  
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 SECTION 6.03 Adequate Protection. Each Junior Representative, for itself and on
behalf of each Junior Secured Party under its Junior Debt Facility, agrees that none of them shall object, contest or support any other Person objecting to or contesting (a) any request by the Designated Senior Representative, any other Senior
Representatives or any other Senior Secured Parties for adequate protection in any form, (b) any objection by the Designated Senior Representative, any other Senior Representatives or any other Senior Secured Parties to any motion, relief,
action or proceeding based on the Designated Senior Representative’s or any other Senior Representative’s or Senior Secured Party’s claiming a lack of adequate protection or (c) the allowance and/or payment of interest, fees,
expenses or other amounts of the Designated Senior Representative, any other Senior Representative or any other Senior Secured Party as adequate protection or otherwise under Section 506(b) or 506(c) of the Bankruptcy Code or any similar
provision of any other Bankruptcy Law. Notwithstanding anything contained in this Section 6.03 or in Section 6.01, in any Insolvency or Liquidation Proceeding, (i) if the Senior Secured Parties (or any subset thereof) are granted
adequate protection in the form of additional or replacement collateral or superpriority claims in connection with any DIP Financing or use of cash collateral under Section 363 or 364 of the Bankruptcy Code or any similar provision of any other
Bankruptcy Law (other than in a role of DIP Financing provider), then each Junior Representative, for itself and on behalf of each Junior Secured Party under its Junior Debt Facility, may seek or request adequate protection in the form of a Lien or
superpriority claim on such additional or replacement collateral, which (A) Lien or superpriority claim is subordinated to the Liens securing or claims with respect to all Senior Obligations and such DIP Financing (and all obligations relating
thereto and any “carve-out”) on the same basis as the other Liens securing the Junior Obligations are so subordinated to the Liens securing Senior Obligations under this Agreement and
(B) superpriority claim is subordinated to all claims of the Senior Secured Parties on the same basis as the other claims of the Junior Secured Parties are so subordinated to the claims of the Senior Secured Parties under this Agreement, and
(ii) in the event any Junior Representatives, for themselves and on behalf of the Junior Secured Parties under their Junior Debt Facilities, seek or request adequate protection and such adequate protection is granted in the form of additional
or replacement collateral, then such Junior Representatives, for themselves and on behalf of each Junior Secured Party under their Junior Debt Facilities, agree that each Senior Representative shall also be granted a senior Lien on such additional
or replacement collateral as security for the Senior Obligations and any such DIP Financing and that any Lien on such additional or replacement collateral securing the Junior Obligations shall be subordinated to the Liens on such collateral securing
the Senior Obligations and any such DIP Financing (and all obligations relating thereto and any “carve-out”) and any other Liens granted to the Senior Secured Parties as adequate protection on the
same basis as the other Liens securing the Junior Obligations are so subordinated to such Liens securing Senior Obligations under this Agreement (and, to the extent the Senior Secured Parties are not granted such adequate protection in such form,
any amounts recovered by or distributed to any Junior Secured Party pursuant to or as a result of any Lien on such additional or replacement collateral so granted to the Junior Secured Parties shall be subject to Section 4.02), and
(iii) in the event any Junior Representatives, for themselves and on behalf of the Junior Secured Parties under their Junior Debt Facilities, seek or request adequate protection and such adequate protection is granted (in each instance, to the
extent such grant is otherwise permissible under the terms and conditions of this Agreement) in the form of a superpriority claim, then such Junior Representatives, for themselves and on behalf of each Junior Secured Party under their Junior Debt
Facilities, agree that each Senior Representative shall also be granted adequate protection in the form of a superpriority claim, which superpriority claim shall be senior to the claims of the Junior Secured Parties (and, to the extent the Senior
Secured Parties are not granted such adequate protection in such form, any amounts recovered by or distributed to any Junior Secured 

  
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Party pursuant to or as a result of any such superpriority claim so granted to the Junior Secured Parties shall be subject to Section 4.02). Without limiting the generality of the foregoing,
to the extent that the Senior Secured Parties are granted adequate protection in the form of payments in the amount of current post-petition fees and expenses, and/or other cash payments, then each Junior
Representative, for itself and on behalf of each Junior Secured Party under its Junior Debt Facility, shall not be prohibited from seeking adequate protection in the form of payments in the amount of current
post-petition incurred fees and expenses, and/or other cash payments (as applicable), subject to the right of the Senior Secured Parties to object to the reasonableness of the amounts of fees and expenses or
other cash payments so sought by the Junior Secured Parties. 
 SECTION 6.04 Preference Issues. If any Senior Secured Party is
required in any Insolvency or Liquidation Proceeding or otherwise to disgorge, turn over or otherwise pay any amount to the estate of either Borrower or any other Grantor (or any trustee, receiver or similar Person therefor), because the payment of
such amount was declared to be or avoided as fraudulent or preferential in any respect or for any other reason, any amount (a “Recovery”), whether received as Proceeds of security, enforcement of any right of setoff, recoupment or
otherwise, then the Senior Obligations shall be reinstated to the extent of such Recovery and deemed to be outstanding as if such payment had not occurred and the Senior Secured Parties shall still be entitled to the benefits of this Agreement until
a future Discharge of Senior Obligations with respect to all such recovered amounts. If this Agreement shall have been terminated prior to such Recovery, this Agreement shall be reinstated in full force and effect, and such prior termination shall
not diminish, release, discharge, impair or otherwise affect the obligations of the parties hereto. Each Junior Representative, for itself and on behalf of each Junior Secured Party under its Junior Debt Facility, hereby agrees that none of them
shall be entitled to benefit from any avoidance action affecting or otherwise relating to any distribution or allocation made in accordance with this Agreement, whether by preference or otherwise, it being understood and agreed that the benefit of
such avoidance action otherwise allocable to them shall instead be allocated and turned over for application in accordance with the priorities set forth in this Agreement. 

SECTION 6.05 Separate Grants of Security and Separate Classifications. Each Junior Representative, for itself and on behalf of
each Junior Secured Party under its Junior Debt Facility, acknowledges and agrees that (a) the grants of Liens pursuant to the Senior Collateral Documents and the Junior Collateral Documents constitute separate and distinct grants of Liens,
(b) the Junior Secured Parties’ claims against the Grantors in respect of their Liens on the Shared Collateral constitute junior claims separate and apart (and of a different class) from the senior claims of the Senior Secured Parties
against the Grantors in respect of the Shared Collateral, and (c) because of, among other things, their differing rights in the Shared Collateral, the Junior Obligations are fundamentally different from the Senior Obligations and must be
separately classified in any Plan of Reorganization proposed, confirmed, or adopted in an Insolvency or Liquidation Proceeding. To further effectuate the intent of the parties as provided in the immediately preceding sentence, if it is held that any
claims of the Senior Secured Parties and the Junior Secured Parties in respect of the Shared Collateral constitute only one secured claim (rather than separate classes of senior and junior secured claims), then each Junior Representative, for itself
and on behalf of each Junior Secured Party under its Junior Debt Facility, hereby acknowledges and agrees that all distributions from the Shared Collateral shall be made as if there were separate classes of senior and junior secured claims against
the Grantors in respect of the Shared Collateral (with the effect being that, to the extent that the aggregate value of the Shared Collateral is sufficient (for this purpose ignoring all claims held by the Junior Secured Parties), the Senior Secured
Parties shall be entitled to receive, in addition to amounts distributed to them in respect of principal, pre-petition interest and other claims, all amounts owing in respect of post-petition interest, fees,
and expenses (whether or not allowed or allowable in such Insolvency or Liquidation Proceeding) before any distribution is made from the Shared Collateral in respect of the Junior Obligations, with each Junior Representative, for itself and on
behalf of each Junior Secured Party under its Junior Debt Facility, hereby acknowledging and agreeing to turn over 

  
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to the Designated Senior Representative amounts otherwise received or receivable by them from the Shared Collateral to the extent necessary to effectuate the intent of this sentence, even if such
turnover has the effect of reducing the claim or recovery of the Junior Secured Parties. This Section 6.05 is intended to govern the relationship between the classes of claims held by the Junior Secured Parties, on the one
hand, and a collective class of claims comprised of the Senior Credit Agreement Secured Parties and any Additional Senior Secured Parties (as opposed to separate classes of each such series of claims), on the other hand, and, for the avoidance of
doubt, nothing set forth herein shall in any way alter or modify the relationship of each series of such separate claims held by the Senior Secured Parties, including as set forth in the First Lien Intercreditor Agreement, or otherwise cause such
different claims to be combined into one or more classes or otherwise classified in a manner that violates the First Lien Intercreditor Agreement. 

SECTION 6.06 No Waivers of Rights of Senior Secured Parties. Nothing contained herein shall, except as expressly provided herein,
prohibit or in any way limit the Designated Senior Representative, any other Senior Representative or any other Senior Secured Party from objecting in any Insolvency or Liquidation Proceeding or otherwise to any action taken by any Junior Secured
Party, including the seeking by any Junior Secured Party of adequate protection or the asserting by any Junior Secured Party of any of its rights and remedies under the Junior Debt Documents or otherwise. 

SECTION 6.07 Application. This Agreement, which the parties hereto expressly acknowledge is a “subordination agreement”
under Section 510(a) of the Bankruptcy Code or any similar provision of any other Bankruptcy Law, shall be effective before, during and after the commencement of any Insolvency or Liquidation Proceeding. The relative rights as to the Shared
Collateral and Proceeds thereof shall continue after the commencement of any Insolvency or Liquidation Proceeding on the same basis as prior to the date of the petition therefor, subject to any court order approving the financing of, or use of cash
collateral by, any Grantor. All references herein to any Grantor shall include such Grantor as a debtor-in-possession and any receiver or trustee for such Grantor. 

SECTION 6.08 Other Matters. To the extent that any Junior Representative or any Junior Secured Party has or acquires rights under
Section 363 or Section 364 of the Bankruptcy Code or any similar provision of any other Bankruptcy Law with respect to any of the Shared Collateral, such Junior Representative, on behalf of itself and each Junior Secured Party under its
Junior Debt Facility, agrees not to assert any such rights without the prior written consent of the Designated Senior Representative; provided that if requested by the Designated Senior Representative, such Junior Representative shall timely
exercise such rights in the manner requested by the Designated Senior Representative, including any rights to payments in respect of such rights. 

SECTION 6.09 506(c) Claims. Until the Discharge of Senior Obligations has occurred, each Junior Representative, on behalf of
itself and each Junior Secured Party under its Junior Debt Facility, agrees that it will not assert or enforce any claim under Section 506(c) of the Bankruptcy Code or any similar provision of any other Bankruptcy Law senior to or on a parity
with the Liens securing the Senior Obligations for costs or expenses of preserving or disposing of any Shared Collateral. 

SECTION 6.10 Reorganization Securities. If, in any Insolvency or Liquidation Proceeding, debt obligations of the reorganized
debtor secured by Liens upon any property of the reorganized debtor are distributed, pursuant to a Plan of Reorganization on account of both the Senior Obligations and the Junior Obligations, then, to the extent the debt obligations distributed on
account of the Senior Obligations and on account of the Junior Obligations are secured by Liens upon the same assets or property, the provisions of this Agreement will survive the distribution of such debt obligations pursuant to such plan and will
apply with like effect to the Liens securing such debt obligations. 

  
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 SECTION 6.11 Post-Petition Interest 

(a) None of the Junior Representatives or any other Junior Secured Party shall oppose or seek to challenge (or support any other Person in
opposing or challenging) any claim by any Senior Representative or any other Senior Secured Party for allowance in any Insolvency or Liquidation Proceeding of Senior Obligations consisting of claims for post-petition interest, fees, costs, expenses,
and/or other charges, under Section 506(b) of the Bankruptcy Code or otherwise (for this purpose ignoring all claims and Liens held by the Junior Secured Parties on the Shared Collateral). 

(b) None of the Senior Representatives or any Senior Secured Party shall oppose or seek to challenge (or support any other Person in opposing
or challenging) any claim by any Junior Representative or any other Junior Secured Party for allowance in any Insolvency or Liquidation Proceeding of Junior Obligations consisting of claims for post-petition interest, fees, costs, expenses, and/or
other charges, under Section 506(b) of the Bankruptcy Code or otherwise, to the extent of the value of the Lien of the Junior Representatives on behalf of the Junior Secured Parties on the Shared Collateral (after taking into account the Senior
Obligations and the Senior Liens). 
 SECTION 6.12 Voting. No Junior Representative or any other Junior Secured Party may (in
its capacity as a secured or an unsecured creditor), directly or indirectly, propose, support, or vote in favor of any Plan of Reorganization (and each shall be deemed to have voted to reject any Plan of Reorganization) that is inconsistent with the
terms of this Agreement. Without limiting the generality of the foregoing, no Junior Representative or any other Junior Secured Party may (in its capacity as a secured or an unsecured creditor), directly or indirectly, propose, support, or vote in
favor of any Plan of Reorganization unless such plan (a) pays off, in cash in full, all Senior Obligations or (b) is accepted by the class of holders of Senior Obligations voting thereon in accordance with Section 1126(c) of the
Bankruptcy Code. 
 ARTICLE VII 

Reliance; etc. 

SECTION 7.01 Reliance. The consent by the Senior Secured Parties to the execution and delivery of the Junior Debt Documents to
which the Senior Secured Parties have consented and all loans and other extensions of credit made or deemed made on and after the date hereof by the Senior Secured Parties to the Borrower or any Subsidiary shall be deemed to have been given and made
in reliance upon this Agreement. Each Junior Representative, on behalf of itself and each Junior Secured Party under its Junior Debt Facility, acknowledges that it and such Junior Secured Parties have, independently and without reliance on the
Designated Senior Representative or any other Senior Representative or other Senior Secured Party, and based on documents and information deemed by them appropriate, made their own credit analysis and decision to enter into the Junior Debt Documents
to which they are party or by which they are bound, this Agreement and the transactions contemplated hereby and thereby, and they will continue to make their own credit decisions in taking or not taking any action under the Junior Debt Documents or
this Agreement. 
 SECTION 7.02 No Warranties or Liability. Each Junior Representative, on behalf of itself and each Junior
Secured Party under its Junior Debt Facility, acknowledges and agrees that neither the Designated Senior Representative nor any other Senior Representative or other Secured Party has made any express or implied representation or warranty, including
with respect to the execution, validity, legality, completeness, collectability or enforceability of any of the Senior Debt Documents, the ownership of any Shared Collateral or the perfection or priority of any Liens thereon. The Senior Secured
Parties will be entitled to manage and supervise their respective loans and extensions of credit under the 

  
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Senior Debt Documents in accordance with law and as they may otherwise, in their sole discretion, deem appropriate, and the Senior Secured Parties may manage their loans and extensions of credit
without regard to any rights or interests that the Junior Representatives and the Junior Secured Parties have in the Shared Collateral or otherwise, except as otherwise provided in this Agreement. Neither the Designated Senior Representative nor any
other Senior Representative or other Senior Secured Party shall have any duty to any Junior Representative or Junior Secured Party to act or refrain from acting in a manner that allows, or results in, the occurrence or continuance of an event of
default or default under any agreement with the Borrower or any Subsidiary (including the Junior Debt Documents), regardless of any knowledge thereof that they may have or be charged with. Except as expressly set forth in this Agreement, the
Designated Senior Representative, the other Senior Representatives, the Senior Secured Parties, the Junior Representatives and the Junior Secured Parties have not otherwise made to each other, nor do they hereby make to each other, any warranties,
express or implied, nor do they assume any liability to each other with respect to (a) the enforceability, validity, value or collectability of any of the Senior Obligations, the Junior Obligations or any guarantee or security which may have
been granted to any of them in connection therewith, (b) any Grantor’s title to or right to transfer any of the Shared Collateral or (c) any other matter except as expressly set forth in this Agreement. 

SECTION 7.03 Obligations Unconditional. All rights, interests, agreements and obligations of the Designated Senior Representative,
the other Senior Representatives, the Senior Secured Parties, the Junior Representatives and the Junior Secured Parties hereunder shall remain in full force and effect irrespective of: 

(a) any lack of validity or enforceability of any Senior Debt Document or any Junior Debt Document; 

(b) except as otherwise expressly set forth in this Agreement, any change in the time, manner or place of payment of, or in any other terms of,
all or any of the Senior Obligations (it being specifically acknowledged that a portion of the Senior Obligations may consist of Indebtedness that is revolving in nature, and the amount thereof that may be outstanding at any time or from time to
time may be increased or reduced and subsequently reborrowed) or Junior Obligations, or any amendment or waiver or other modification, including any increase in the amount thereof, whether by course of conduct or otherwise, of the terms of any
Senior Debt Document or of the terms of any Junior Debt Document; 
 (c) except as otherwise expressly set forth in this Agreement, any
exchange, release, voiding, defect in or non-perfection of any security interest in any Shared Collateral or any other collateral or any amendment, waiver or other modification, whether in writing or by course
of conduct or otherwise, of all or any of the Senior Obligations or Junior Obligations or any guarantee thereof; 
 (d) the commencement of
any Insolvency or Liquidation Proceeding in respect of either Borrower or any other Grantor; or 
 (e) any other circumstances that otherwise
might constitute a defense available to, or a discharge of, (i) either Borrower or any other Grantor in respect of the Senior Obligations or (ii) any Junior Representative or Junior Secured Party in respect of this Agreement. 

  
 28 

 ARTICLE VIII 

Miscellaneous 

SECTION 8.01 Conflicts. In the event of any conflict or inconsistency between the provisions of this Agreement and the provisions
of any Senior Debt Document or any Junior Debt Document, the provisions of this Agreement shall govern. Notwithstanding the foregoing, the relative rights and obligations of the Senior Collateral Agent, the Senior Representatives and the Senior
Secured Parties (as amongst themselves) with respect to any Senior Collateral shall be governed by the terms of the First Lien Intercreditor Agreement and in the event of any conflict between the First Lien Intercreditor Agreement and this Agreement
with respect to such rights and obligations, the provisions of the First Lien Intercreditor Agreement shall control. 
 SECTION 8.02
Continuing Nature of this Agreement; Severability. Subject to Section 6.04, this Agreement shall continue to be effective until the Discharge of Senior Obligations shall have occurred. This is a continuing agreement of Lien
subordination, and the Senior Secured Parties may continue, at any time and without notice to the Junior Representatives or any Junior Secured Party, to extend credit and other financial accommodations and lend monies to or for the benefit of the
Borrower or any other Grantor constituting Senior Obligations in reliance hereon. The terms of this Agreement shall survive and continue in full force and effect in any Insolvency or Liquidation Proceeding. 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. The parties shall endeavor in good-faith negotiations to replace the invalid, illegal or
unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions. 

SECTION 8.03 Amendments; Waivers. 

(a) No failure or delay on the part of any party hereto in exercising any right or power hereunder shall operate as a waiver thereof, nor shall
any single or partial exercise of any such right or power, or any abandonment or discontinuance of steps to enforce such a right or power, preclude any other or further exercise thereof or the exercise of any other right or power. The rights and
remedies of the parties hereto are cumulative and are not exclusive of any rights or remedies that they would otherwise have. No waiver of any provision of this Agreement or consent to any departure by any party therefrom shall in any event be
effective unless the same shall be permitted by paragraph (b) of this Section, and then such waiver or consent shall be effective only in the specific instance and for the purpose for which given. No notice or demand on any party hereto in any
case shall entitle such party to any other or further notice or demand in similar or other circumstances. 
 (b) Neither this Agreement nor
any provision hereof may be terminated, waived, amended or modified (other than pursuant to any Joinder Agreement) except pursuant to an agreement or agreements in writing entered into by each Representative (and with respect to any such
termination, waiver, amendment or modification which by the terms of this Agreement requires the Borrower’s consent or which increases the obligations or reduces the rights of the Borrower or any other Grantor or otherwise directly and
adversely affects the Borrower or any Grantor, with the consent of the Borrower). Notwithstanding the provisions of any Senior Debt Document or Junior Debt Document, the Designated Senior Representative and the Designated Junior Representative may,
with the consent of the Borrower, make any amendment, restatement, amendment and restatement, supplement or other modification to this Agreement to correct any ambiguity, defect or inconsistency contained herein without the consent of any other
Person. The Representatives shall provide the Borrower written notice of any termination, waiver, amendment or modification to this Agreement promptly following the effectiveness thereof (together with a copy of such termination, waiver, amendment
or modification). 
 (c) Notwithstanding the foregoing, without the consent of any Secured Party, any Representative may become a party
hereto by execution and delivery of a Joinder Agreement in accordance with Section 8.09 and upon such execution and delivery, such Representative and the Secured Parties and Senior Obligations or Junior Obligations of the
Debt Facility for which such Representative is acting shall be subject to the terms hereof. 

  
 29 

 (d) Notwithstanding the foregoing, without the consent of any other Representative or Secured
Party, the Designated Senior Representative may effect amendments and modifications to this Agreement to the extent necessary to reflect any incurrence of any Additional Junior Debt Obligations or Additional Senior Debt Obligations in compliance
with the Senior Credit Agreement, the Initial Junior Debt Documents, any Additional Senior Debt Documents and any Additional Junior Debt Documents. 

SECTION 8.04 Information Concerning Financial Condition of the Borrower and the other Grantors. The Designated Senior
Representative, the other Senior Representatives, the other Senior Secured Parties, the Junior Representatives and the Junior Secured Parties shall each be responsible for keeping themselves informed of (a) the financial condition of the
Borrower and the other Grantors and all endorsers or guarantors of the Senior Obligations or the Junior Obligations and (b) all other circumstances bearing upon the risk of nonpayment of the Senior Obligations or the Junior Obligations. The
Designated Senior Representative, the other Senior Representatives, the other Senior Secured Parties, the Junior Representatives and the Junior Secured Parties shall have no duty to advise any other party hereunder of information known to it or them
regarding such condition or any such circumstances or otherwise. In the event that the Designated Senior Representative, any other Senior Representative, any other Senior Secured Party, any Junior Representative or any Junior Secured Party, in its
sole discretion, undertakes at any time or from time to time to provide any such information to any other party, it shall be under no obligation to (i) make, and the Designated Senior Representative, the other Senior Representatives, the other
Senior Secured Parties, the Junior Representatives and the Junior Secured Parties shall not make or be deemed to have made, any express or implied representation or warranty, including with respect to the accuracy, completeness, truthfulness or
validity of any such information so provided, (ii) provide any additional information or to provide any such information on any subsequent occasion, (iii) undertake any investigation or (iv) disclose any information that, pursuant to
accepted or reasonable commercial finance practices, such party wishes to maintain confidential or is otherwise required to maintain confidential. 

SECTION 8.05 Subrogation. Each Junior Representative, on behalf of itself and each Junior Secured Party under its Junior Debt
Facility, hereby agrees not to assert any rights of subrogation it may acquire as a result of any payment hereunder until the Discharge of Senior Obligations has occurred. 

SECTION 8.06 Application of Payments. Except as otherwise provided herein, all payments received by the Senior Secured Parties may
be applied, reversed and reapplied, in whole or in part, to such part of the Senior Obligations as the Senior Secured Parties, in their sole discretion, deem appropriate, consistent with the terms of the Senior Debt Documents. Except as otherwise
provided herein, each Junior Representative, on behalf of itself and each Junior Secured Party under its Junior Debt Facility, assents to any such extension or postponement of the time of payment of the Senior Obligations or any part thereof and to
any other indulgence with respect thereto, to any substitution, exchange or release of any security that may at any time secure any part of the Senior Obligations and to the addition or release of any other Person primarily or secondarily liable
therefor. 
 SECTION 8.07 Additional Grantors. The Borrower agrees that, if any Subsidiary of the Borrower shall become a
Grantor after the date hereof, it will promptly cause such Subsidiary to become party hereto by executing and delivering an instrument in the form of Annex II. Upon such execution and delivery, such Subsidiary will become a Grantor hereunder
with the same force and effect as if originally named as a Grantor herein. The execution and delivery of such instrument shall not require the consent of any other party hereunder, and will be acknowledged by the Designated Senior Representative.
The rights and obligations of each Grantor hereunder shall remain in full force and effect notwithstanding the addition of any new Grantor as a party to this Agreement. 

  
 30 

 SECTION 8.08 Reserved. 

SECTION 8.09 Additional Debt Facilities. To the extent, but only to the extent, permitted by the provisions of the then extant
Senior Debt Documents and Junior Debt Documents and Section 5.03, the Borrower may incur or issue and sell one or more series or classes of Additional Junior Debt and one or more series or classes of Additional Senior Debt. Any such additional
class or series of Additional Junior Debt (the “Junior Class Debt”) may be secured by a junior priority, subordinated Lien on Shared Collateral, in each case under and pursuant to the relevant Junior Collateral
Documents, if and subject to the condition that the Representative of any such Junior Class Debt (each, a “Junior Class Debt Representative”), acting on behalf of the holders of such Junior Class Debt
(such Representative and holders in respect of any such Junior Class Debt being referred to as the “Junior Class Debt Parties”), becomes a party to this Agreement by satisfying the conditions set forth in
clauses (i) through (v), as applicable, of the immediately succeeding paragraph. Any such additional class or series of Additional Senior Debt (the “Senior Class Debt”, and the Senior Class Debt and
Junior Class Debt, collectively, the “Class Debt”) may be secured by a senior Lien on Shared Collateral, in each case under and pursuant to the relevant Senior Collateral Documents, if and subject to the
condition that the Representative of any such Senior Class Debt (each, a “Senior Class Debt Representative”, and the Senior Class Debt Representatives and Junior Class Debt Representatives,
collectively, the “Class Debt Representatives”), acting on behalf of the holders of such Senior Class Debt (such Representative and holders in respect of any such Senior Class Debt being referred to as
the “Senior Class Debt Parties”, and the Senior Class Debt Parties and Junior Class Debt Parties, collectively, the “Class Debt Parties”), becomes a party to this Agreement by satisfying
the conditions set forth in clauses (i) through (v), as applicable, of the immediately succeeding paragraph. In order for a Class Debt Representative to become a party to this Agreement: 

(i) such Class Debt Representative shall have executed and delivered a Joinder Agreement to the Designated Senior
Representative and the Designated Junior Representative substantially in the form of Annex III (if such Representative is a Junior Class Debt Representative) or Annex IV (if such Representative is a Senior Class Debt
Representative) (in each case, with such changes as may be reasonably approved by the Designated Senior Representative and such Class Debt Representative) pursuant to which it becomes a Representative hereunder, and the Class Debt in
respect of which such Class Debt Representative is the Representative and the related Class Debt Parties become subject hereto and bound hereby; 

(ii) the Borrower shall have delivered to the Designated Senior Representative and the Designated Junior Representative true
and complete copies of each of the Junior Debt Documents or Senior Debt Documents, as applicable, relating to such Class Debt, certified as being true and correct by a Responsible Officer of the Borrower Representative; 

(iii) in the case of any Junior Class Debt, all filings, recordations and/or amendments or supplements to the Junior
Collateral Documents necessary to confirm and perfect the junior priority Liens securing the relevant Junior Obligations relating to such Class Debt shall have been made, executed and/or delivered (or, with respect to any such filings or
recordations, acceptable provisions to perform such filings or recordings have been taken in the reasonable judgment of the Designated Junior Representative), and all fees and taxes in connection therewith shall have been paid (or acceptable
provisions to make such payments have been taken in the reasonable judgment of the Designated Senior Representative); 

  
 31 

 (iv) the Borrower shall have delivered to the Designated Senior Representative
and the Designated Junior Representative a certificate of an appropriate officer stating that such Additional Senior Debt Obligations or Additional Junior Debt Obligations are permitted by each applicable Senior Debt Document and Junior Debt
Document to be incurred, or to the extent a consent is otherwise required to permit the incurrence of such Additional Senior Debt Obligations or Additional Junior Debt Obligations under any applicable Senior Debt Document and Junior Debt Document,
each Grantor has obtained the requisite consent; and 
 (v) the Junior Debt Documents or Senior Debt Documents, as
applicable, relating to such Class Debt shall provide, in a manner reasonably satisfactory to the Designated Senior Representative, that each Class Debt Party with respect to such Class Debt will be subject to and bound by the
provisions of this Agreement in its capacity as a holder of such Class Debt. 
 SECTION 8.10 Consent to Jurisdiction;
Waivers. Each Representative, on behalf of itself and the Secured Parties of the Debt Facility for which it is acting, irrevocably and unconditionally: 

(a) submits for itself and its property in any legal action or proceeding arising out of or relating to this Agreement, or for recognition and
enforcement of any judgment in respect thereof, to the exclusive 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, or any bankruptcy
court with jurisdiction over any Insolvency or Liquidation Proceeding and appellate court from any thereof; 
 (b) consents that any such
action or proceeding may be brought in such courts and irrevocably and unconditionally waives any objection that it may now or hereafter have to the venue of any such action or proceeding in any such court or that such action or proceeding was
brought in an inconvenient court and agrees not to plead or claim the same; 
 (c) agrees that service of process in any such action or
proceeding may be effected by mailing a copy thereof by registered or certified mail (or any substantially similar form of mail), postage prepaid, to such Person (or its Representative) at the address referred to in
Section 8.11; 
 (d) agrees that nothing herein shall affect the right of any other party hereto (or any Secured
Party) to effect service of process in any other manner permitted by law or shall limit the right of any party hereto (or any Secured Party) to bring any legal action or proceeding in any other jurisdiction; and 

(e) waives, to the maximum extent not prohibited by law, any right it may have to claim or recover in any legal action or proceeding referred
to in this Section 8.10 any special, exemplary, punitive or consequential damages. 
 SECTION 8.11
Notices. All notices, requests, demands and other communications provided for or permitted hereunder shall be in writing and shall be sent: 

(i) if to the Borrower, or any other Grantor, to c/o Ditech Holding Corporation, 3000 Bayport Drive, Suite 1100, Tampa, Florida
33607, Attention: General Counsel, Fax: (813) 281-5635, 
 (ii) If to the Senior
Collateral Agent, to it at Credit Suisse AG, Cayman Islands Branch, Eleven Madison Avenue, New York, NY 10010, Attention: Loan Operations - Boutique Management, Fax: (212) 325-8315; 

  
 32 

 (iii) if to the Junior Collateral Agent, to it at Wilmington Savings Fund
Society, FSB, 500 Delaware Avenue, Wilmington, Delaware 19801, Attention: Patrick J. Healy, Fax: (302) 421-9137; 

(iv) if to any other Representative, to it at the address specified by it in the Joinder Agreement delivered by it pursuant to
Section 8.09. 
 Any party hereto may change its address, fax number or email address for notices and other communications
hereunder by notice to the other parties hereto. Unless otherwise specifically provided herein, any notice or other communication herein required or permitted to be given shall be in writing and, may be personally served, telecopied, electronically
mailed or sent by courier service or U.S. mail and shall be deemed to have been given when delivered in Person or by courier service, upon receipt of a telecopy or electronic mail or upon receipt via U.S. mail (registered or certified, with postage
prepaid and properly addressed). For the purposes hereof, the addresses of the parties hereto shall be as set forth above or, as to each party, at such other address as may be designated by such party in a written notice to all of the other parties.
As agreed to in writing among the Designated Senior Representative and each other Representative from time to time, notices and other communications may also be delivered by e-mail to the e-mail address of a representative of the applicable Person provided from time to time by such Person. 

SECTION 8.12 Further Assurances. Each Senior Representative, on behalf of itself and each Senior Secured Party under its Senior
Debt Facility, each Junior Representative, on behalf of itself and each Junior Secured Party under its Junior Debt Facility and the Borrower and each other Grantor hereto, for itself and on behalf of its Restricted Subsidiaries, agrees that it will
take such further action and shall execute and deliver such additional documents and instruments (in recordable form, if requested) as the other parties hereto may reasonably request to effectuate the terms of, and the Lien priorities contemplated
by, this Agreement. 
 SECTION 8.13 GOVERNING LAW; WAIVER OF JURY TRIAL. 

(A) THIS AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK. 

(B) EACH PARTY HERETO HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY
HAVE TO A TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING RELATING TO THIS AGREEMENT AND FOR ANY COUNTERCLAIM THEREIN. EACH PARTY HERETO (1) 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 (2) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT, BY, AMONGST OTHER THINGS, THE
MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 8.13. 
 SECTION 8.14 Parties in Interest. 

(a) This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns, as well as
the other Secured Parties, all of whom are intended to be bound by, and to be third party beneficiaries of, this Agreement. No other Person shall have or be entitled to assert rights or benefits hereunder. 

  
 33 

 (b) If either the Senior Collateral Agent or the Junior Collateral Agent resigns or is replaced
pursuant to the Senior Debt Documents or the Junior Debt Documents, as applicable, its successor will be party to this Agreement with all the rights, and subject to all the obligations of the predecessor Senior Collateral Agent or the Junior
Collateral Agent, as applicable, of this Agreement. 
 SECTION 8.15 Headings. Article, Section and Annex headings 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 8.16 Counterparts. This Agreement may be executed in counterparts (and by different parties on different counterparts),
each of which shall constitute an original but all of which when taken together shall constitute a single contract. Delivery of an executed counterpart of a signature page to this Agreement by telecopy or other electronic transmission (including
Adobe pdf file) shall be effective as delivery of a manually executed counterpart of this Agreement. 
 SECTION 8.17
Authorization. By its signature, each Person executing this Agreement on behalf of a party hereto represents and warrants to the other parties hereto that it is duly authorized to execute this Agreement. The Senior Collateral Agent represents
and warrants that this Agreement is binding upon the Senior Credit Agreement Secured Parties. The Junior Collateral Agent represents and warrants that this Agreement is binding upon the Initial Junior Debt Secured Parties. 

SECTION 8.18 Provisions Solely to Define Relative Rights. The lien priorities set forth in this Agreement and the rights and
benefits hereunder in respect of such lien priorities shall inure solely to the benefit of the Designated Senior Representative, the other Senior Representatives, the other Senior Secured Parties, the Junior Representatives and the Junior Secured
Parties, and their respective permitted successors and assigns, and no other Person (including the Grantors, or any trustee, receiver, debtor in possession, creditor trust or bankruptcy estate in a bankruptcy or like proceeding) shall have or be
entitled to assert such rights. Nothing in this Agreement is intended to or shall impair the obligations of any Grantor, which are absolute and unconditional, to pay the Secured Obligations as and when the same shall become due and payable in
accordance with their terms. 
 SECTION 8.19 Effectiveness. This Agreement shall become effective when executed and delivered by
the parties hereto. This Agreement shall be effective both before and after the commencement of any Insolvency or Liquidation Proceeding. All references to the Grantors shall include each Grantor as debtor and debtor in possession and any receiver
or trustee for such Grantor (as the case may be) in any Insolvency or Liquidation Proceeding. 
 SECTION 8.20 Senior Collateral
Agent and Junior Collateral Agent. It is understood and agreed that (a) the Senior Collateral Agent is entering into this Agreement in (i) its capacities as administrative agent and collateral agent under the Senior Credit Agreement
and the provisions of Article 8 of the Senior Credit Agreement applicable to it as administrative agent or collateral agent thereunder shall also apply to it as Designated Senior Representative and Senior Collateral Agent hereunder and (ii) its
capacity as collateral agent under the First Lien Intercreditor Agreement (if applicable), and the provisions of the First Lien Intercreditor Agreement applicable to it as collateral agent thereunder shall also apply to it as Designated Senior
Representative hereunder and (b) the Junior Collateral Agent is entering in this Agreement in its capacities as administrative agent and collateral agent under the Initial Junior Debt Documents and the provisions of Section 14.03 of the
Indenture, dated as of the date hereof, among the Borrower, the Guarantors identified therein and Wilmington Savings Fund Society, FSB, as trustee and collateral agent applicable to the administrative agent or collateral agent thereunder shall also
apply to it as Junior Collateral Agent and Designated Junior Representative hereunder. 

  
 34 

 For the avoidance of doubt, the parties hereto acknowledge that in no event shall any party
hereto be responsible or liable for special, indirect, or consequential loss or damage of any kind whatsoever (including, but not limited to, loss of profit) irrespective of whether any such party has been advised of the likelihood of such loss or
damage and regardless of the form of action. 
 SECTION 8.21 Relative Rights. Notwithstanding anything in this Agreement to the
contrary (except to the extent expressly contemplated herein), nothing in this Agreement is intended to or will (a) amend, waive or otherwise modify the provisions of any Senior Debt Documents or any Junior Debt Documents, or permit either
Borrower or any other Grantor to take any action, or fail to take any action, to the extent such action or failure would otherwise constitute a breach of, or default under, any Senior Debt Documents or any Junior Debt Documents, (b) change the
relative priorities of the Senior Obligations or the Liens granted under the Senior Collateral Documents on the Shared Collateral (or any other assets) as among the Senior Secured Parties, (c) otherwise change the relative rights of the Senior
Secured Parties in respect of the Shared Collateral as among such Senior Secured Parties or (d) obligate either Borrower or any other Grantor to take any action, or fail to take any action, that would otherwise constitute a breach of, or
default under, any Senior Debt Document or any Junior Debt Document. 
 SECTION 8.22 Survival of Agreement. All covenants,
agreements, representations and warranties made by any party in this Agreement shall be considered to have been relied upon by the other parties hereto and shall survive the execution and delivery of this Agreement. 

SECTION 8.23 Integration. This Agreement, together with the other Senior Debt Documents and Junior Debt Documents, constitutes the
entire contract among each of the Grantors and the Senior Secured Parties relating to the subject matter hereof and supersedes any and all previous agreements and understandings, oral or written, relating to the subject matter hereof, and there are
no promises, undertakings, representations or warranties by any Grantor, any Representative or any other Secured Party relative to the subject matter hereof not expressly set forth or referred to herein or in the other Senior Debt Documents or
Junior Debt Documents. 
 SECTION 8.24 Exclusive Means of Exercising Rights under this Agreement. 

(a) The Senior Secured Parties shall be deemed to have irrevocably appointed the Designated Senior Representative as their exclusive agent
hereunder as and to the extent set forth herein. Consistent with such appointment, the Senior Secured Parties further shall be deemed to have agreed that only the Designated Senior Representative (and not any individual claimholder or group of
claimholders) as agent for the Senior Secured Parties, or any of the Designated Senior Representative’s agents, shall have the right on their behalf to exercise any rights, powers, and/or remedies under or in connection with this Agreement
(including bringing any action to interpret or otherwise enforce the provisions of this Agreement); provided that (i) holders of the Secured Swap Obligations and the Secured Cash Management Obligations may exercise customary netting and
set off rights under the Swap Agreements and Cash Management Agreements to which they are, respectively, a party, (ii) cash collateral may be held pursuant to the terms of the Senior Debt Documents (including any relating to Swap Agreements)
and any such individual Senior Secured Party may act against such cash collateral in accordance with the terms of the relevant Senior Debt Document or applicable law and (iii) the Senior Secured Parties may exercise customary rights of setoff
against depository or other accounts maintained with them in accordance with the terms of the relevant Senior Debt Document or applicable law. Specifically, but without limiting the generality of the foregoing, no Senior Secured Party or group of
Senior Secured Parties, other than the Designated Senior Representative, shall be entitled to take or file, and shall be precluded from taking or filing (whether in any Insolvency or Liquidation Proceeding or otherwise), any action, judicial or
otherwise, to enforce any right or power or pursue any remedy under this Agreement (including any declaratory judgment or other action to interpret or otherwise enforce the provisions of this Agreement), except solely as provided in the immediately
preceding sentence. 

  
 35 

 (b) The Junior Secured Parties shall be deemed to have irrevocably appointed the Designated
Junior Representative as their exclusive agent hereunder as and to the extent set forth herein. Consistent with such appointment, the Junior Secured Parties further shall be deemed to have agreed that only the Designated Junior Representative (and
not any individual claimholder or group of claimholders) as agent for the Junior Secured Parties, or any of the Designated Junior Representative’s, shall have the right on their behalf to exercise any rights, powers, and/or remedies under or in
connection with this Agreement (including bringing any action to interpret or otherwise enforce the provisions of this Agreement. Specifically, but without limiting the generality of the foregoing, each Junior Secured Party or group of Junior
Secured Parties, other than the Designated Junior Representative, shall not be entitled to take or file, but instead shall be precluded from taking or filing (whether in any Insolvency or Liquidation Proceeding or otherwise), any action, judicial or
otherwise, to enforce any right or power or pursue any remedy under this Agreement (including any declaratory judgment or other action to interpret or otherwise enforce the provisions of this Agreement). 

[signature pages follow] 

  
 36 

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

			
	 CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH

as Senior Collateral Agent and Designated Senior Representative

		
	By:	 	  

		 	
		 	Name:
		 	Title:
	
	WILMINGTON SAVINGS FUND SOCIETY, FSB, as Junior Collateral Agent
		
	By:	 	  

		 	Name:
		 	Title:

 
			
	DITECH HOLDING CORPORATION
	DITECH FINANCIAL LLC
	GREEN TREE CREDIT SOLUTIONS LLC
	GREEN TREE SERVICING CORP.
	WALTER MANAGEMENT HOLDING COMPANY LLC
	DF INSURANCE AGENCY LLC
	GREEN TREE INVESTMENT HOLDINGS III LLC
	GREEN TREE INSURANCE AGENCY OF NEVADA, INC.
		
	By:	 	      

		 	Name: Cheryl A. Collins
		 	Title: Senior Vice President and Treasurer
	
	WALTER REVERSE ACQUISITION LLC
		
	By:	 	  

		 	Name: Cheryl A. Collins
		 	Title: Treasurer
	
	GREEN TREE CREDIT LLC
		
	By:	 	  

		 	Name: Anthony Renzi
		 	Title: President and Treasurer
	
	MORTGAGE ASSET SYSTEMS, LLC
	REO MANAGEMENT SOLUTIONS, LLC
		
	By:	 	  

		 	Name: Jeffery Baker
		 	Title: President
	
	REVERSE MORTGAGE SOLUTIONS, INC.
		
	By:	 	  

		 	Name: Cheryl A. Collins
		 	Title: Senior Vice President

 ANNEX I 

Grantors 
 1. Ditech Financial LLC 

2. DF Insurance Agency LLC 
 3. Green Tree Credit LLC 

4. Green Tree Credit Solutions LLC 
 5. Green Tree Insurance
Agency of Nevada, Inc. 
 6. Green Tree Investment Holdings III LLC 

7. Walter Management Holding Company LLC 
 8. Green Tree
Servicing Corp. 
 9. Mortgage Asset Systems, LLC 
 10. REO
Management Solutions, LLC 
 11. Reverse Mortgage Solutions, Inc. 

12. Walter Reverse Acquisition LLC 

 ANNEX II 

SUPPLEMENT NO. [ ] dated as of [ ], 20[ ] to the FIRST LIEN/SECOND LIEN INTERCREDITOR AGREEMENT dated as of February 9, 2018 (the
“First Lien/Second Lien Intercreditor Agreement”), among DITECH HOLDING CORPORATION (F/K/A WALTER INVESTMENT MANAGEMENT CORP.), a Maryland corporation (the “Borrower”), the other Grantors party thereto, CREDIT
SUISSE AG, CAYMAN ISLANDS BRANCH, as collateral agent for the Senior Credit Agreement Secured Parties (in such capacity and together with its successors in such capacity, the “Senior Collateral Agent”), WILMINGTON SAVINGS FUND
SOCIETY, FSB, as collateral agent for the Initial Junior Debt Secured Parties (in such capacity, the “Junior Collateral Agent”), and each Additional Senior Agent and each Additional Junior Agent that from time to time becomes a
party thereto. 
 A. Capitalized terms used herein and not otherwise defined herein shall have the meanings assigned to such terms in the
First Lien/Second Lien Intercreditor Agreement. 
 B. The Grantors have entered into the First Lien/Second Lien Intercreditor Agreement.
Pursuant to certain Senior Debt Documents and certain Junior Debt Documents, certain newly acquired or organized Subsidiaries of the Borrower are required to enter into the First Lien/Second Lien Intercreditor Agreement. Section 8.07 of the
First Lien/Second Lien Intercreditor Agreement provides that such Subsidiaries may become party to the First Lien/Second Lien Intercreditor Agreement by execution and delivery of an instrument in the form of this Supplement. The undersigned
Subsidiary (the “New Grantor”) is executing this Supplement in accordance with the requirements of the Senior Credit Agreement, the Junior Debt Documents, the Additional Junior Debt Documents and the Additional Senior Debt
Documents. 
 Accordingly, the Designated Senior Representative and the New Grantor agree as follows: 

SECTION 1. In accordance with Section 8.07 of the First Lien/Second Lien Intercreditor Agreement, the New Grantor by its signature below
becomes a Grantor under the First Lien/Second Lien Intercreditor Agreement with the same force and effect as if originally named therein as a Grantor, and the New Grantor hereby agrees to all the terms and provisions of the First Lien/Second Lien
Intercreditor Agreement applicable to it as a Grantor thereunder. Each reference to a “Grantor” in the First Lien/Second Lien Intercreditor Agreement shall be deemed to include the New Grantor. The First Lien/Second Lien Intercreditor
Agreement is hereby incorporated herein by reference. 
 SECTION 2. The New Grantor represents and warrants to the Designated Senior
Representative and the other Secured Parties that this Supplement has been duly authorized, executed and delivered by it and constitutes its legal, valid and binding obligation, enforceable against it in accordance with its terms. 

SECTION 3. This Supplement may be executed in counterparts (and by different parties on different counterparts), each of which shall
constitute an original, but all of which when taken together shall constitute a single contract. This Supplement shall become effective when the Designated Senior Representative shall have received a counterpart of this Supplement that bears the
signature of the New Grantor. Delivery of an executed signature page to this Supplement by telecopy or other electronic transmission (including Adobe pdf file) shall be as effective as delivery of a manually executed counterpart of this Supplement.

 SECTION 4. Except as expressly supplemented hereby, the First Lien/Second Lien Intercreditor
Agreement shall remain in full force and effect. 
 SECTION 5. THIS SUPPLEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE
LAWS OF THE STATE OF NEW YORK. 
 SECTION 6. Any provision of this Supplement 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 contained herein and in the First
Lien/Second Lien Intercreditor Agreement and the invalidity of a particular provision in a particular jurisdiction shall not invalidate such provision in any other jurisdiction. The parties hereto shall endeavor in good-faith negotiations to replace
the invalid, illegal or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions. 

SECTION 7. All communications and notices hereunder shall be in writing and given as provided in Section 8.11 of the First Lien/Second
Lien Intercreditor Agreement. All communications and notices hereunder to the New Grantor shall be given to it in care of the Borrower as specified in the Second Lien Intercreditor Agreement. 

 IN WITNESS WHEREOF, the New Grantor and the Designated Senior Representative have duly executed
this Supplement to the First Lien/Second Lien Intercreditor Agreement as of the day and year first above written. 
  

			
	[NAME OF NEW GRANTOR],
		
	By:	 	  

		 	Name:
		 	Title:

  

			
	Acknowledged by:
	[                                ], as
Designated Senior Representative,

			
		
	By:	 	  

		 	Name:
		 	Title:

 ANNEX III 

[FORM OF] JOINDER NO. [    ] dated as of [    ], 20[ ] to the FIRST LIEN/SECOND LIEN INTERCREDITOR
AGREEMENT dated as of February 9, 2018 (the “First Lien/Second Lien Intercreditor Agreement) among DITECH HOLDING CORPORATION (F/K/A WALTER INVESTMENT MANAGEMENT CORP.), a Maryland corporation (the “Borrower”), the
other Grantors party thereto, CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, as collateral agent for the Senior Credit Agreement Secured Parties (in such capacity and together with its successors in such capacity, the “Senior Collateral
Agent”), WILMINGTON SAVINGS FUND SOCIETY, FSB, as collateral agent for the Initial Junior Debt Secured Parties (in such capacity, the “Junior Collateral Agent”), and each Additional Senior Agent and each Additional Junior
Agent that from time to time becomes a party that from time to time becomes a party thereto. 
 A. Capitalized terms used herein but not
otherwise defined herein shall have the meanings assigned to such terms in the First Lien/Second Lien Intercreditor Agreement. 
 B. As a
condition to the ability of the Borrower to incur Junior Class Debt and to secure such Junior Class Debt with a Lien pari passu with the Lien securing the existing Junior Obligations and to have such Junior Class Debt guaranteed by
the Grantors, in each case under and pursuant to the Junior Collateral Documents, the Junior Class Representative in respect of such Junior Class Debt is required to become a Representative under, and such Junior Class Debt and the
Junior Class Debt Parties in respect thereof are required to become subject to and bound by, the First Lien/Second Lien Intercreditor Agreement. Section 8.09 of the First Lien/Second Lien Intercreditor Agreement provides that such Junior
Class Debt Representative may become a Representative under, and such Junior Class Debt and such Junior Class Debt Parties may become subject to and bound by, the First Lien/Second Lien Intercreditor Agreement, pursuant to the
execution and delivery by the Junior Class Debt Representative of an instrument in the form of this Joinder and the satisfaction of the other conditions set forth in Section 8.09 of the First Lien/Second Lien Intercreditor Agreement. The
undersigned Junior Class Debt Representative (the “New Representative”) is executing this Joinder in accordance with the requirements of the Senior Debt Documents and the Junior Debt Documents. 

Accordingly, the Designated Senior Representative and the New Representative agree as follows: 

SECTION 1. In accordance with Section 8.09 of the First Lien/Second Lien Intercreditor Agreement, the New Representative by its signature
below becomes a Representative under, and the related Junior Class Debt and Junior Class Debt Parties become subject to and bound by, the First Lien/Second Lien Intercreditor Agreement with the same force and effect as if the New
Representative had originally been named therein as a Representative, and the New Representative, on behalf of itself and such Junior Class Debt Parties, hereby agrees to all the terms and provisions of the First Lien/Second Lien Intercreditor
Agreement applicable to it as a Junior Representative and to the Junior Class Debt Parties that it represents as Junior Secured Parties. Each reference to a “Representative,” “Junior Representative” or
“Additional Junior Agent” in the First Lien/Second Lien Intercreditor Agreement shall be deemed to include the New Representative. The First Lien/Second Lien Intercreditor Agreement is hereby incorporated herein by reference. 

SECTION 2. The New Representative represents and warrants to the Designated Senior Representative and the other Secured Parties that
(i) it has full power and authority to enter into this Joinder, in its capacity as [agent] [trustee] under [describe new Junior Debt Facility], (ii) this Joinder has been duly authorized, executed and delivered by it and constitutes its legal,
valid and binding obligation, enforceable against it in accordance with the terms of such Agreement and (iii) the Junior 

 
Debt Documents relating to such Junior Class Debt provide that, upon the New Representative’s entry into this Joinder, the Junior Class Debt Parties in respect of such Junior
Class Debt will be subject to and bound by the provisions of the First Lien/Second Lien Intercreditor Agreement as Junior Secured Parties. 

SECTION 3. This Joinder may be executed in counterparts (and by different parties on different counterparts), each of which shall constitute
an original, but all of which when taken together shall constitute a single contract. This Joinder shall become effective when the Designated Senior Representative shall have received a counterpart of this Joinder that bears the signature of the New
Representative. Delivery of an executed signature page to this Joinder by telecopy or other electronic transmission (including Adobe pdf file) shall be effective as delivery of a manually executed counterpart of this Joinder. 

SECTION 4. Except as expressly supplemented hereby, the First Lien/Second Lien Intercreditor Agreement shall remain in full force and effect.

 SECTION 5. THIS JOINDER SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK. 

SECTION 6. Any provision of this Joinder 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 contained herein and in the First Lien/Second Lien Intercreditor Agreement and the
invalidity of a particular provision in a particular jurisdiction shall not invalidate such provision in any other jurisdiction. The parties hereto shall endeavor in good-faith negotiations to replace the invalid, illegal or unenforceable provisions
with valid provisions the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions. 

SECTION 7. All communications and notices hereunder shall be in writing and given as provided in Section 8.11 of the First Lien/Second
Lien Intercreditor Agreement. All communications and notices hereunder to the New Representative shall be given to it at the address set forth below its signature hereto. 

 IN WITNESS WHEREOF, the New Representative and the Designated Senior Representative have duly
executed this Joinder to the First Lien/Second Lien Intercreditor Agreement as of the day and year first above written. 
  

			
	[NAME OF NEW REPRESENTATIVE], as
	[                 ] for the holders of
	[                             ],
	By:	 	  

		 	Name:
		 	Title:
	Address for notices:
		
		 	  

		
		 	  

		 	attention of: _____________________________
		 	Telecopy: _______________________________
	
[                          
   ],
 as Designated Senior Representative,

	By:	 	  

		 	Name:
		 	Title:

 Acknowledged by: 
  

			
	DITECH HOLDING CORPORATION, a Maryland corporation

			
		
	By:	 	  

			
	Name:	 	
	Title:	 	
	
	[GRANTORS],

			
		
	By:	 	  

			
		 	Name:
		 	Title:

 ANNEX IV 

[FORM OF] JOINDER NO. [    ] dated as of [    ], 20[    ] to the FIRST LIEN/SECOND
LIEN INTERCREDITOR AGREEMENT dated as of February 9, 2018 (the “First Lien/Second Lien Intercreditor Agreement”), among DITECH HOLDING CORPORATION (F/K/A WALTER INVESTMENT MANAGEMENT CORP.), a Maryland corporation (the
“Borrower”), the other Grantors party thereto, CREDIT SUISSE AG, Cayman Islands Branch, as collateral agent for the Senior Credit Agreement Secured Parties (in such capacity and together with its successors in such capacity, the
“Senior Collateral Agent”), WILMINGTON SAVINGS FUND SOCIETY, FSB, as collateral agent for the Initial Junior Debt Secured Parties (in such capacity, the “Junior Collateral Agent”), and each Additional Senior Agent
and each Additional Junior Agent that from time to time becomes a party that from time to time becomes a party thereto. 
 A. Capitalized
terms used herein but not otherwise defined herein shall have the meanings assigned to such terms in the First Lien/Second Lien Intercreditor Agreement. 

B. As a condition to the ability of the Borrower to incur Senior Class Debt after the date of the First Lien/Second Lien Intercreditor
Agreement and to secure such Senior Class Debt with the Senior Lien and to have such Senior Class Debt guaranteed by the Grantors, in each case under and pursuant to the Senior Collateral Documents, the Senior Class Debt
Representative in respect of such Senior Class Debt is required to become a Representative under, and such Senior Class Debt and the Senior Class Debt Parties in respect thereof are required to become subject to and bound by, the
Second Lien Intercreditor Agreement. Section 8.09 of the First Lien/Second Lien Intercreditor Agreement provides that such Senior Class Debt Representative may become a Representative under, and such Senior Class Debt and such Senior
Class Debt Parties may become subject to and bound by, the First Lien/Second Lien Intercreditor Agreement, pursuant to the execution and delivery by the Senior Class Debt Representative of an instrument in the form of this Joinder and the
satisfaction of the other conditions set forth in Section 8.09 of the First Lien/Second Lien Intercreditor Agreement. The undersigned Senior Class Debt Representative (the “New Representative”) is executing this Supplement
in accordance with the requirements of the Senior Debt Documents, the Junior Debt Documents and the First Lien/Second Lien Intercreditor Agreement. 

Accordingly, the Designated Senior Representative and the New Representative agree as follows: 

SECTION 1. In accordance with Section 8.09 of the First Lien/Second Lien Intercreditor Agreement, the New Representative by its signature
below becomes a Representative under, and the related Senior Class Debt and Senior Class Debt Parties become subject to and bound by, the First Lien/Second Lien Intercreditor Agreement with the same force and effect as if the New
Representative had originally been named therein as a Representative, and the New Representative, on behalf of itself and such Senior Class Debt Parties, hereby agrees to all the terms and provisions of the First Lien/Second Lien Intercreditor
Agreement applicable to it as a Senior Representative and to the Senior Class Debt Parties that it represents as Senior Debt Parties. Each reference to a “Representative,” “Senior Representative” or
“Additional Senior Agent” in the First Lien/Second Lien Intercreditor Agreement shall be deemed to include the New Representative. The First Lien/Second Lien Intercreditor Agreement is hereby incorporated herein by reference. 

SECTION 2. The New Representative represents and warrants to the Designated Senior Representative and the other Secured Parties that
(i) it has full power and authority to enter into this Joinder, in its capacity as [agent] [trustee] under [describe new Senior Debt Facility], (ii) this Joinder has been duly authorized, executed and delivered by it and constitutes its legal,
valid and binding 

 
obligation, enforceable against it in accordance with the terms of such Agreement and (iii) the Senior Debt Documents relating to such Senior Class Debt provide that, upon the New
Representative’s entry into this Agreement, the Senior Class Debt Parties in respect of such Senior Class Debt will be subject to and bound by the provisions of the First Lien/Second Lien Intercreditor Agreement as Senior Secured
Parties. 
 SECTION 3. This Joinder may be executed in counterparts (and by different parties on different counterparts), each of which
shall constitute an original, but all of which when taken together shall constitute a single contract. This Joinder shall become effective when the Designated Senior Representative shall have received a counterpart of this Joinder that bears the
signature of the New Representative. Delivery of an executed signature page to this Joinder by telecopy or other electronic transmission (including Adobe pdf file) shall be effective as delivery of a manually executed counterpart of this Joinder.

 SECTION 4. Except as expressly supplemented hereby, the First Lien/Second Lien Intercreditor Agreement shall remain in full force and
effect. 
 SECTION 5. THIS JOINDER SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK. 

SECTION 6. Any provision of this Joinder 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 contained herein and in the First Lien/Second Lien Intercreditor Agreement and the
invalidity of a particular provision in a particular jurisdiction shall not invalidate such provision in any other jurisdiction. The parties hereto shall endeavor in good-faith negotiations to replace the invalid, illegal or unenforceable provisions
with valid provisions the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions. 

SECTION 7. All communications and notices hereunder shall be in writing and given as provided in Section 8.11 of the First Lien/Second
Lien Intercreditor Agreement. All communications and notices hereunder to the New Representative shall be given to it at the address set forth below its signature hereto. 

  
 -44- 

 IN WITNESS WHEREOF, the New Representative and the Designated Senior Representative have duly
executed this Joinder to the First Lien/Second Lien Intercreditor Agreement as of the day and year first above written. 
  

			
	[NAME OF NEW REPRESENTATIVE], as
	[                 ] for the holders of
	[                             ],
	By:	 	  

		 	Name:
		 	Title:
	Address for notices:
		
		 	  

		
		 	  

		 	attention of: _____________________________
		 	Telecopy: _______________________________
	
[                          
   ],
 as Designated Senior Representative,

	By:	 	  

		 	Name:
		 	Title:

  
 -45- 

			
	Acknowledged by:
	DITECH HOLDING CORPORATION, a Maryland corporation

			
		
	By:	 	  

			
	Name:	 	
	Title:	 	
	
	[GRANTORS],

			
		
	By:	 	  

			
		 	Name:
		 	Title:

  
 -46- 

 EXHIBIT D 

[RESERVED] 

  
 D-1 

 EXHIBIT E 

FORM OF SUBSIDIARIES GUARANTY 

  
 E-1 

 EXECUTION VERSION 
  

 
  

AMENDED AND RESTATED SUBSIDIARIES GUARANTY 

made by 
 THE SUBSIDIARY
GUARANTORS FROM TIME TO TIME PARTY HERETO 
 in favor of 

CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH 

as ADMINISTRATIVE AGENT, 
 for the
benefit of 
 THE SECURED CREDITORS 
  

 
 February 9,
2018 
  
  

 
  

 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	PAGE	 
	 1.
	 	Guaranty	  	 	2	 
			
	 2.
	 	Liability of Guarantors Absolute	  	 	3	 
			
	 3.
	 	Obligations of Guarantors Independent	  	 	4	 
			
	 4.
	 	Waivers by Guarantors	  	 	4	 
			
	 5.
	 	Rights of Secured Creditors	  	 	6	 
			
	 6.
	 	Continuing Guaranty	  	 	7	 
			
	 7.
	 	Release of Guaranty	  	 	8	 
			
	 8.
	 	Subordination of Indebtedness held by Guarantors	  	 	8	 
			
	 9.
	 	Stay of Acceleration	  	 	8	 
			
	 10.
	 	Guaranty Enforceable by Administrative Agent or Collateral Agent	  	 	8	 
			
	 11.
	 	Representations, Warranties and Covenants of Guarantors	  	 	9	 
			
	 12.
	 	Expenses	  	 	10	 
			
	 13.
	 	Benefit and Binding Effect	  	 	10	 
			
	 14.
	 	Amendments; Waivers	  	 	11	 
			
	 15.
	 	Set Off	  	 	11	 
			
	 16.
	 	Notices	  	 	12	 
			
	 17.
	 	Reinstatement	  	 	12	 
			
	 18.
	 	Consent to Jurisdiction; Service of Process; and Waiver of Trial By Jury	  	 	12	 
			
	 19.
	 	Release of Liability of Guarantor	  	 	13	 
			
	 20.
	 	Contribution	  	 	13	 
			
	 21.
	 	Limitation on Guaranteed Obligations	  	 	14	 
			
	 22.
	 	Counterparts	  	 	14	 
			
	 23.
	 	Payments	  	 	14	 
			
	 24.
	 	Additional Guarantors	  	 	14	 
			
	 25.
	 	Headings Descriptive	  	 	15	 
			
	 26.
	 	Keepwell	  	 	15	 
			
	 27.
	 	Amendment and Restatement	  	 	15	 

  
 i 

 AMENDED AND RESTATED SUBSIDIARIES GUARANTY 

AMENDED AND RESTATED SUBSIDIARIES GUARANTY (as amended, restated, amended and restated, supplemented and/or otherwise modified from time to
time, this “Guaranty”), dated as of February 9, 2018, made by and among each of the undersigned guarantors (each, a “Guarantor” and, together with any other entity that becomes a guarantor hereunder pursuant to
Section 24 hereof, collectively, the “Guarantors”) in favor of Credit Suisse AG, Cayman Islands Branch, as administrative agent (together with any successor administrative agent, the “Administrative Agent”),
for the benefit of the Secured Creditors (as defined below). Except as otherwise defined herein, all capitalized terms used herein and defined in the Credit Agreement (as defined below) shall be used herein as therein defined. 

W I T N E S S E T H : 
 WHEREAS,
Ditech Holding Corporation (formerly known as Walter Investment Management Corp.), a Maryland corporation (the “Borrower”), the lenders from time to time party thereto (the “Lenders”), the Administrative Agent and
the Collateral Agent (as defined therein), have entered into a Second Amended and Restated Credit Agreement, dated as of February 9, 2018 (as amended, restated, amended and restated, supplemented and/or otherwise modified from time to time, the
“Credit Agreement”), which amends and restates that certain Amended and Restated Credit Agreement, dated as of December 19, 2013, by and among the Borrower, the Lenders, the Administrative Agent and the Collateral Agent,
providing for the making of Loans to the Borrower, all as contemplated therein (the Lenders, each Issuing Bank, the Administrative Agent and the Collateral Agent are herein called the “Lender Creditors”); 

WHEREAS, the Borrower and/or one or more of its Subsidiaries that is a Credit Party may at any time and from time to time enter into one or
more Interest Rate Protection Agreements and/or Other Hedging Agreements with one or more Lenders or any affiliate thereof (each such Lender or affiliate, even if the respective Lender subsequently ceases to be a Lender under the Credit Agreement
for any reason, together with such Lender’s or affiliate’s successors and assigns, if any, collectively, the “Other Creditors” and, together with the Lender Creditors, the “Secured Creditors”; and with
each such Interest Rate Protection Agreement and/or Other Hedging Agreement with an Other Creditor being herein called a “Secured Hedging Agreement”); 

WHEREAS, each Guarantor is a direct or indirect Wholly-Owned Domestic Subsidiary of the Borrower; 

WHEREAS, the Guarantors and the Administrative Agent are party to that certain Subsidiaries Guaranty, dated as of November 28, 2012 (as
amended, restated, amended and restated, supplemented and/or otherwise modified from time to time prior to the date hereof, the “Existing Subsidiaries Guaranty”); and 

WHEREAS, pursuant to the Credit Agreement, the Guarantors and the Administrative Agent (at the direction of the Lenders) have agreed to amend
and restate the Existing Subsidiaries Guaranty on the terms and conditions specified herein; 
 NOW, THEREFORE, in consideration of the
foregoing and other benefits accruing to each Guarantor, the receipt and sufficiency of which are hereby acknowledged, the Existing Subsidiaries Guaranty is amended and restated as specified herein and each Guarantor hereby makes the following
representations and warranties to the Administrative Agent for the benefit of the Secured Creditors and hereby covenants and agrees with each other Guarantor and the Administrative Agent for the benefit of the Secured Creditors as follows: 

 1. Guaranty. a) Each Guarantor, jointly and severally, irrevocably, absolutely and
unconditionally guarantees as a primary obligor and not merely as surety: 
 (i) to the Lender Creditors the full and prompt
payment when due (whether at the stated maturity, by required prepayment, declaration, acceleration, demand or otherwise) of (x) the principal of, premium, if any, and interest on the Notes issued by, and the Loans made to, the Borrower under
the Credit Agreement, and all reimbursement obligations with respect to all Letters of Credit, (y) all other obligations (other than Excluded Swap Obligations) (including, without limitation, obligations which, but for the automatic stay under
Section 362(a) of the Bankruptcy Code, would become due), liabilities and indebtedness owing by the Borrower to the Lender Creditors under each Credit Document to which the Borrower is a party (including, without limitation, indemnities, Fees,
expenses and interest thereon (including, without limitation, any interest accruing after the commencement of any case, proceeding or other action relating to the bankruptcy, insolvency, receivership, reorganization or similar proceeding of any
Guarantor (or which would accrue but for the operation of applicable bankruptcy or insolvency laws) at the rate provided for in the Credit Agreement, whether or not such interest is an allowed or allowable claim in any such proceeding)), whether now
existing or hereafter incurred under, arising out of or in connection with each such Credit Document and the due performance and compliance by the Borrower with all of the terms, conditions, covenants and agreements contained in all such Credit
Documents and (z) any renewals, refinancings or extensions of any of all the foregoing (all such principal, premium, interest, liabilities, indebtedness and other obligations under this clause (i), except to the extent consisting of obligations
or liabilities with respect to Secured Hedging Agreements, being herein collectively called the “Credit Document Obligations”); and 

(ii) to each Other Creditor the full and prompt payment when due (whether at the stated maturity, by required prepayment,
declaration, acceleration, demand or otherwise) of all obligations (including, without limitation, obligations which, but for the automatic stay under Section 362(a) of the Bankruptcy Code, would become due), liabilities and indebtedness
(including, without limitation, any interest accruing after the commencement of any case, proceeding or other action relating to the bankruptcy, insolvency, receivership, reorganization or similar proceeding of any Guarantor (or which would accrue
but for the true operation of applicable bankruptcy or insolvency laws) at the rate provided for in the respective Secured Hedging Agreements, whether or not such interest is an allowed or allowable claim in any such proceeding) owing by the
Borrower and each other Guaranteed Party (other than Excluded Swap Obligations) under each Secured Hedging Agreement to which it is a party, whether now in existence or hereafter arising, and the due performance and compliance by the Borrower and
each such other Guaranteed Party with all of the terms, conditions, covenants and agreements contained therein (all such obligations, liabilities and indebtedness being herein collectively called the “Other Obligations” and,
together with the Credit Document Obligations, are herein collectively called the “Guaranteed Obligations”). 

  
 2 

 As used herein, the term “Guaranteed Party” shall mean the Borrower and each
Subsidiary of the Borrower party to any Secured Hedging Agreement. As used herein, the term “Commodity Exchange Act” shall mean the Commodity Exchange Act (7 U.S.C. § 1 et seq.), as amended from time to time, and any successor
statute. As used herein, the term “Excluded Swap Obligation” shall mean, with respect to any Guarantor, any Swap Obligation if, and to the extent that, and only for so long as, all or a portion of the Guaranty of such Guarantor of, or the
grant by such Guarantor of a security interest to secure, as applicable, such Swap Obligation (or any Guaranty thereof) is or becomes illegal under the Commodity Exchange Act or any rule, regulation or order of the Commodity Futures Trading
Commission (or the application or official interpretation of any thereof) by virtue of such Guarantor’s failure for any reason to constitute an “eligible contract participant” as defined in the Commodity Exchange Act and the
regulations thereunder at the time the Guaranty of such Guarantor or the grant of such security interest, as applicable, becomes effective or would become effective with respect to such Swap Obligation; if a Swap Obligation arises under a master
agreement governing more than one Swap, such exclusion shall apply only to the portion of such Swap Obligation that is attributable to Swaps for which such Guaranty or security interest is or becomes illegal. As used herein, the term “Swap
Obligation” shall mean, with respect to any Guarantor, any obligation to pay or perform under any Swap. As used herein, the term “Swap” shall mean, any agreement, contract or transaction that constitutes a “swap” within the
meaning of section 1a(47) of the Commodity Exchange Act, including any Interest Rate Protection Agreement or any Other Hedging Agreement permitted under the Credit Documents. As used herein, the term “Qualified ECP Guarantor” shall mean,
in respect of any Swap Obligation, each Guarantor that has total assets exceeding $10,000,000 at the time the relevant Guaranty or grant of the relevant security interest, as applicable, becomes effective with respect to such Swap Obligation or such
other person as constitutes an “eligible contract participant” under the Commodity Exchange Act or any regulations promulgated thereunder and can cause another person to qualify as an “eligible contract participant” at such time
by entering into a keepwell under Section 1a(18)(A)(v)(II) of the Commodity Exchange Act. Each Guarantor understands, agrees and confirms that the Secured Creditors may enforce this Guaranty up to the full amount of the Guaranteed Obligations
against such Guarantor without proceeding against any other Guarantor, the Borrower or any other Guaranteed Party, or against any security for the Guaranteed Obligations, or under any other guaranty covering all or a portion of the Guaranteed
Obligations. This Guaranty is a guaranty of prompt payment and performance and not of collection. 
 (b) Additionally, each
Guarantor, jointly and severally, unconditionally, absolutely and irrevocably, guarantees the payment of any and all Guaranteed Obligations whether or not due or payable by the Borrower or any other Guaranteed Party upon the occurrence in respect of
the Borrower or any other Guaranteed Party of any of the events specified in Section 7.01(e) of the Credit Agreement, and unconditionally, absolutely and irrevocably, jointly and severally, promises to pay such Guaranteed Obligations to the
Secured Creditors, or order, on demand. 
 2. Liability of Guarantors Absolute. The liability of each Guarantor hereunder is primary,
absolute, joint and several, and unconditional and is exclusive and independent of any security for or other guaranty of the indebtedness of the Borrower or any other Guaranteed Party whether executed by such Guarantor, any other Guarantor, any
other guarantor of the Guaranteed Obligations or by any other party, and the liability of each Guarantor hereunder shall not be affected or impaired by any circumstance or occurrence whatsoever until the occurrence of the Termination Date,
including, without limitation: b) any direction as to application of payment by the Borrower, any other Guaranteed Party or any other party, c) any other continuing or other guaranty, undertaking or maximum liability of a Guarantor or of any other
party as to the Guaranteed Obligations, d) any payment on or in reduction of any such other guaranty or undertaking, e) any dissolution, termination or increase, decrease or change in personnel by 

  
 3 

 
the Borrower or any other Guaranteed Party, f) any payment made to any Secured Creditor on the Guaranteed Obligations which any Secured Creditor repays the Borrower or any other Guaranteed Party
pursuant to court order in any bankruptcy, reorganization, arrangement, moratorium or other debtor relief proceeding, and each Guarantor waives any right to the deferral or modification of its obligations hereunder by reason of any such proceeding,
g) any action or inaction by the Secured Creditors as contemplated in Section 5 hereof, h) any invalidity, rescission, irregularity or unenforceability of all or any part of the Guaranteed Obligations or of any security therefor, i) any
extension, renewal, settlement, compromise, waiver or release in respect of any Guaranteed Obligation by operation of law or otherwise, j) any modification or amendment of or supplement to the Credit Agreement or any other Credit Document, k) any
release, impairment, non-perfection or invalidity of any direct or indirect security for any Guaranteed Obligation, l) any change in the corporate existence, structure or ownership of the Borrower, any
Guarantor or any other Person or any insolvency, bankruptcy, reorganization or other similar proceeding affecting the Borrower, any Guarantor or any other Person or its assets or any resulting release or discharge of any Guaranteed Obligation, m)
the existence of any claim, set-off or other rights which a Guarantor may have at any time against the Borrower, any other Guarantor, the Secured Creditors or any other entity, whether in connection herewith
or with any unrelated transactions, provided that nothing herein shall prevent the assertion of any such claim by separate suit or compulsory counterclaim, n) any invalidity or unenforceability relating to or against the Borrower or any other Person
for any reason of the Credit Agreement or any other Credit Document or any provision of applicable law or regulation purporting to prohibit the payment by the Borrower of principal, premium or interest on any loan made pursuant to, or any other
amount payable pursuant to the Credit Agreement or any other Credit Document, o) any other act or omission to act or delay of any kind by the Borrower, any other Guaranteed Party or any other Person or any other circumstance whatsoever which might,
but for the provisions of this paragraph, constitute a legal or equitable discharge of or defense to the Guarantor’s obligations hereunder. 

3. Obligations of Guarantors Independent. The obligations of each Guarantor hereunder are independent of the obligations of any other
Guarantor, any other guarantor of the Guaranteed Obligations, the Borrower or any other Guaranteed Party, and a separate action or actions may be brought and prosecuted against each Guarantor whether or not action is brought against any other
Guarantor, any other guarantor of the Guaranteed Obligations, the Borrower or any other Guaranteed Party and whether or not any other Guarantor, any other guarantor of the Guaranteed Obligations, the Borrower or any other Guaranteed Party be joined
in any such action or actions. Each Guarantor waives (to the fullest extent permitted by applicable law) the benefits of any statute of limitations affecting its liability hereunder or the enforcement thereof. Any payment by the Borrower or any
other Guaranteed Party or other circumstance which operates to toll any statute of limitations as to the Borrower or such other Guaranteed Party shall operate to toll the statute of limitations as to each Guarantor. 

4. Waivers by Guarantors. (a) Each Guarantor hereby waives (to the fullest extent permitted by applicable law) notice of acceptance of
this Guaranty and notice of the existence, creation or incurrence of any new or additional liability which becomes part of the Guaranteed Obligations, and waives promptness, diligence, presentment, demand of payment, demand for performance, protest,
notice of dishonor or nonpayment of any such liabilities, suit or taking of other action by the Administrative Agent or any other Secured Creditor against, and any other notice to, any party liable thereon (including such Guarantor, any other
Guarantor, any other guarantor of the Guaranteed Obligations, the Borrower or any other Guaranteed Party) and each Guarantor further hereby waives any and all notice of the creation, renewal, extension or accrual of any of the Guaranteed Obligations
and notice or proof of reliance by any Secured Creditor upon this Guaranty, and the Guaranteed Obligations shall conclusively be deemed to have been created, contracted or incurred, or renewed, extended, amended, modified, supplemented or waived, in
reliance upon this Guaranty. 

  
 4 

 (b) Each Guarantor waives any right to require the Secured Creditors to: p)
proceed against the Borrower, any other Guaranteed Party, any other Guarantor, any other guarantor of the Guaranteed Obligations or any other party; q) proceed against or exhaust any security held from the Borrower, any other Guaranteed Party, any
other Guarantor, any other guarantor of the Guaranteed Obligations or any other party; or r) pursue any other remedy in the Secured Creditors’ power whatsoever. Each Guarantor waives any defense based on or arising out of any defense of the
Borrower, any other Guaranteed Party, any other Guarantor, any other guarantor of the Guaranteed Obligations or any other party other than payment in full in cash of the Guaranteed Obligations, including, without limitation, any defense based on or
arising out of the disability of the Borrower, any other Guaranteed Party, any other Guarantor, any other guarantor of the Guaranteed Obligations or any other party, or the unenforceability of the Guaranteed Obligations or any part thereof from any
cause, or the cessation from any cause of the liability of the Borrower or any other Guaranteed Party other than payment in full in cash of the Guaranteed Obligations. The Secured Creditors may, at their election, foreclose on any collateral serving
as security held by the Administrative Agent, the Collateral Agent or the other Secured Creditors by one or more judicial or nonjudicial sales, whether or not every aspect of any such sale is commercially reasonable (to the extent such sale is
permitted by applicable law), or exercise any other right or remedy the Secured Creditors may have against the Borrower, any other Guaranteed Party or any other party, or any security, without affecting or impairing in any way the liability of any
Guarantor hereunder except to the extent the Guaranteed Obligations have been paid in full in cash. Each Guarantor waives any defense arising out of any such election by the Secured Creditors, even though such election operates to impair or
extinguish any right of reimbursement, contribution, indemnification or subrogation or other right or remedy of such Guarantor against the Borrower, any other Guaranteed Party, any other guarantor of the Guaranteed Obligations or any other party or
any security. 
 (c) Each Guarantor has knowledge and assumes all responsibility for being and keeping itself informed of the
Borrower’s, each other Guaranteed Party’s and each other Guarantor’s financial condition, affairs and assets, and of all other circumstances bearing upon the risk of nonpayment of the Guaranteed Obligations and the nature, scope and
extent of the risks which such Guarantor assumes and incurs hereunder, and has adequate means to obtain from the Borrower, each other Guaranteed Party and each other Guarantor on an ongoing basis information relating thereto and the Borrower’s,
each other Guaranteed Party’s and each other Guarantor’s ability to pay and perform its respective Guaranteed Obligations, and agrees to assume the responsibility for keeping, and to keep, so informed for so long as this Guaranty is in
effect. Each Guarantor acknowledges and agrees that (x) the Secured Creditors shall have no obligation to investigate the financial condition or affairs of the Borrower, any other Guaranteed Party or any other Guarantor for the benefit of such
Guarantor nor to advise such Guarantor of any fact respecting, or any change in, the financial condition, assets or affairs of the Borrower, any other Guaranteed Party or any other Guarantor that might become known to any Secured Creditor at any
time, whether or not such Secured Creditor knows or believes or has reason to know or believe that any such fact or change is unknown to such Guarantor, or might (or does) increase the risk of such Guarantor as guarantor hereunder, or might (or
would) affect the willingness of such Guarantor to continue as a guarantor of the Guaranteed Obligations hereunder and (y) the Secured Creditors shall have no duty to advise any Guarantor of information known to them regarding any of the
aforementioned circumstances or risks. 

  
 5 

 (d) [Reserved]. 

(e) Each Guarantor hereby acknowledges and agrees that no Secured Creditor nor any other Person shall be under any obligation
s) to marshal any assets in favor of such Guarantor or in payment of any or all of the liabilities of any Guaranteed Party under the Credit Documents, the Secured Hedging Agreements or the obligation of such Guarantor hereunder or i) to pursue any
other remedy that such Guarantor may or may not be able to pursue itself any right to which such Guarantor hereby waives. 

(f) Each Guarantor warrants and agrees that each of the waivers set forth in Section 3 and in this Section 4 is made
with full knowledge of its significance and consequences and that if any of such waivers are determined to be contrary to any applicable law or public policy, such waivers shall be effective only to the maximum extent permitted by applicable law.

 5. Rights of Secured Creditors. Subject to Sections 4 and 14 hereof, any Secured Creditor or the Collateral Agent (as applicable)
may (except as shall be required by applicable statute and cannot be waived) at any time and from time to time without the consent of, or notice to, any Guarantor, without incurring responsibility to such Guarantor, without impairing or releasing
the obligations or liabilities of such Guarantor hereunder, upon or without any terms or conditions and in whole or in part: 

(a) change the manner, place or terms of payment of, and/or change, increase or extend the time of payment of, renew, increase,
accelerate or alter, any of the Guaranteed Obligations (including, without limitation, any increase or decrease in the rate of interest thereon or the principal amount thereof), any security therefor, or any liability incurred directly or indirectly
in respect thereof, and the guaranty herein made shall apply to the Guaranteed Obligations as so changed, extended, increased, accelerated, renewed or altered; 

(b) take and hold security for the payment of the Guaranteed Obligations and sell, exchange, release, surrender, impair,
realize upon or otherwise deal with in any manner and in any order any property or other collateral by whomsoever at any time pledged or mortgaged to secure, or howsoever securing, the Guaranteed Obligations or any liabilities (including any of
those hereunder) incurred directly or indirectly in respect thereof or hereof, and/or any offset thereagainst; 
 (c)
exercise or refrain from exercising any rights against the Borrower, any other Guaranteed Party, any other Credit Party, any Subsidiary thereof, any other guarantor of the Borrower or others or otherwise act or refrain from acting; 

(d) release or substitute any one or more endorsers, Guarantors, other guarantors, the Borrower, any other Guaranteed Party or
other obligors; 
 (e) settle or compromise any of the Guaranteed Obligations, any security therefor or any liability
(including any of those hereunder) incurred directly or indirectly in respect thereof or hereof, and may subordinate the payment of all or any part thereof to the payment of any liability (whether due or not) of the Borrower or any other Guaranteed
Party to creditors of the Borrower or such other Guaranteed Party other than the Secured Creditors; 

  
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 (f) apply any sums by whomsoever paid or howsoever realized to any liability or
liabilities of the Borrower or any other Guaranteed Party to the Secured Creditors regardless of what liabilities of the Borrower or such other Guaranteed Party remain unpaid; 

(g) consent to or waive any breach of, or any act, omission or default under, any of the Secured Hedging Agreements, the Credit
Documents or any of the instruments or agreements referred to therein, or otherwise amend, modify or supplement any of the Secured Hedging Agreements, the Credit Documents or any of such other instruments or agreements; 

(h) act or fail to act in any manner which may deprive such Guarantor of its right to subrogation against the Borrower or any
other Guaranteed Party to recover full indemnity for any payments made pursuant to this Guaranty; and/or 
 (i) take any
other action or omit to take any other action which would, under otherwise applicable principles of common law, give rise to a legal or equitable discharge of such Guarantor from its liabilities under this Guaranty (including, without limitation,
any action or omission whatsoever that might otherwise vary the risk of such Guarantor or constitute a legal or equitable defense to or discharge of the liabilities of a guarantor or surety or that might otherwise limit recourse against such
Guarantor). 
 No invalidity, illegality, irregularity or unenforceability of all or any part of the Guaranteed Obligations, the Credit
Documents, the Secured Hedging Agreements or any other agreement or instrument relating to the Guaranteed Obligations or of any security or guarantee therefor shall affect, impair or be a defense to this Guaranty, and this Guaranty shall be primary,
absolute and unconditional notwithstanding the occurrence of any event or the existence of any other circumstances which might constitute a legal or equitable discharge of a surety or guarantor except payment in full in cash of the Guaranteed
Obligations. 
 6. Continuing Guaranty. This Guaranty is a continuing one, shall be binding on each Guarantor and its successors and
assigns, and all liabilities to which it applies or may apply under the terms hereof shall be conclusively presumed to have been created in reliance hereon. No failure or delay on the part of any Secured Creditor in exercising any right, power or
privilege hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any right, power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, power or privilege. The
rights and remedies herein expressly specified are cumulative and not exclusive of any rights or remedies which any Secured Creditor would otherwise have. No notice to or demand on any Guarantor in any case shall entitle such Guarantor to any other
further notice or demand in similar or other circumstances or constitute a waiver of the rights of any Secured Creditor to any other or further action in any circumstances without notice or demand. It is not necessary for any Secured Creditor to
inquire into the capacity or powers of the Borrower or any other Guaranteed Party or the officers, directors, partners or agents acting or purporting to act on its or their behalf, and any indebtedness made or created in reliance upon the professed
exercise of such powers shall be guaranteed hereunder. 

  
 7 

 7. Release of Guaranty. The Guarantors’ obligations hereunder shall be released on
the Termination Date (as defined below). If at any time any payment of any Guaranteed Obligation is rescinded or must be otherwise restored or returned upon the insolvency, bankruptcy or reorganization of the Borrower or otherwise, the
Guarantors’ obligations hereunder with respect to such payment shall be reinstated as though such payment had been due but not made at such time. 

For the purpose of this Guaranty, “Termination Date” shall mean the date upon which all Commitments under the Credit Agreement
have been terminated, no Note under the Credit Agreement is outstanding and all Loans thereunder have been repaid in full in cash, all Letters of Credit issued under the Credit Agreement have been terminated (or fully cash collateralized and/or
backstopped by one or more letters of credit) and all Guaranteed Obligations (other than Other Obligations and indemnities described in Section 8.01 of the Security Agreement, described in Section 11 of the Pledge Agreement and described
in Section 9.05 of the Credit Agreement, and any other indemnities set forth in any other Security Documents, in each case as to which no claim shall have been asserted) then due and payable have been paid in full in cash. 

8. Subordination of Indebtedness held by Guarantors. Any indebtedness or other obligations of the Borrower or any other Guaranteed Party
now or hereafter held by, or owing to, any Guarantor is hereby subordinated to the indebtedness and other obligations of the Borrower or such other Guaranteed Party held by, or owing to, the Secured Creditors; and such indebtedness and other
obligations of the Borrower or such other Guaranteed Party held by, or owing to, any Guarantor, if the Administrative Agent or the Collateral Agent, after an Event of Default has occurred and is continuing, so requests, shall be collected, enforced
and received by such Guarantor as trustee for the Secured Creditors and be paid over to the Secured Creditors on account of the indebtedness and other obligations of the Borrower or such other Guaranteed Party to the Secured Creditors, but without
affecting or impairing in any manner the liability of such Guarantor under the other provisions of this Guaranty. Prior to the transfer by any Guarantor of any note or negotiable instrument evidencing any indebtedness or other obligations of the
Borrower or any other Guaranteed Party to such Guarantor, such Guarantor shall mark such note or negotiable instrument with a legend that the same is subject to this subordination. Without limiting the generality of the foregoing, each Guarantor
hereby agrees with the Secured Creditors that it will not exercise any right of subrogation which it may at any time otherwise have as a result of this Guaranty (whether contractual, under Section 509 of the Bankruptcy Code or otherwise) until
the Termination Date has occurred; provided, that if any amount shall be paid to such Guarantor on account of such subrogation rights at any time prior to the occurrence of the Termination Date, such amount shall be held in trust for the
benefit of the Secured Creditors and shall forthwith be paid to the Secured Creditors to be credited and applied upon the Guaranteed Obligations, whether matured or unmatured, in accordance with the terms of the Credit Documents and the Secured
Hedging Agreements or, if the Credit Documents or the Secured Hedging Agreements do not provide for the application of such amount, to be held by the Secured Creditors as collateral security for any Guaranteed Obligations thereafter existing. 

9. Stay of Acceleration. If acceleration of the time for payment of any Guaranteed Obligation is stayed upon the insolvency, bankruptcy
or reorganization of the Borrower or otherwise, all Guaranteed Obligations otherwise subject to acceleration under the terms of the Credit Agreement or any Secured Hedge Agreement shall nonetheless be payable by the Guarantors hereunder forthwith on
demand by the Administrative Agent. 
 10. Guaranty Enforceable by Administrative Agent or Collateral Agent. Notwithstanding anything
to the contrary contained elsewhere in this Guaranty, the Secured Creditors agree (by their acceptance of the benefits of this Guaranty) that this Guaranty may be enforced only by the action of the Administrative Agent or the Collateral Agent, in
each case acting upon the instructions of the Required 

  
 8 

 
Lenders and that no other Secured Creditor shall have any right individually to seek to enforce or to enforce this Guaranty or to realize upon the security to be granted by the Security
Documents, it being understood and agreed that such rights and remedies may be exercised by the Administrative Agent or the Collateral Agent for the benefit of the Secured Creditors upon the terms of this Guaranty and the Security Documents. The
Secured Creditors further agree that this Guaranty may not be enforced against any director, officer, employee, partner, member or stockholder of any Guarantor (except to the extent such partner, member or stockholder is also a Guarantor hereunder).
It is understood and agreed that the agreement in this Section 10 is among and solely for the benefit of the Secured Creditors and that, if the Required Lenders so agree (without requiring the consent of any Guarantor), this Guaranty may be
directly enforced by any Secured Creditor. 
 11. Representations, Warranties and Covenants of Guarantors. In order to induce the
Lenders to make Loans to, and issue Letters of Credit for the account of, the Borrower pursuant to the Credit Agreement, and in order to induce the Other Creditors to execute, deliver and perform the Secured Hedging Agreements to which they are a
party, each Guarantor represents, warrants and covenants that: 
 (a) such Guarantor t) is a duly organized and validly
existing Company, in good standing under the laws of the jurisdiction of its organization, u) has the Company power and authority to own its property and assets and to transact the business in which it is engaged and presently proposes to engage and
v) is duly qualified and is authorized to do business and is in good standing in each jurisdiction where the nature of its business requires such qualification, except to the extent all failures with respect to the foregoing clauses (i), (ii) and
(iii) could not, either individually or in the aggregate, reasonably be expected to have a Material Adverse Effect; 

(b) such Guarantor has the Company power and authority to execute, deliver and perform its obligations under this Guaranty and
each other Document (such term, for purposes of this Guaranty, to mean each Credit Document (as defined in the Credit Agreement) and each Secured Hedging Agreement) to which it is a party and has taken all necessary Company action to authorize the
execution, delivery and performance by it of this Guaranty and each such other Document; 
 (c) such Guarantor has duly
executed and delivered this Guaranty and each other Document to which it is a party, and this Guaranty and each such other Document constitutes the legal, valid and binding obligation of such Guarantor enforceable in accordance with its terms,
except to the extent that the enforceability hereof or thereof may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws generally affecting creditors’ rights and by equitable principles (regardless
of whether enforcement is sought in equity or at law); 
 (d) neither the execution, delivery or performance by such
Guarantor of this Guaranty or any other Document to which it is a party, nor compliance by it with the terms and provisions hereof and thereof, will w) except as would not reasonably be expected to have a Material Adverse Effect, contravene or
violate any provision of any applicable law, statute, rule or regulation or any order, writ, injunction or decree of any court or Governmental Authority, x) except as would not reasonably be expected to have a Material Adverse Effect, conflict with
or result in any breach of any of the terms, covenants, conditions or provisions of, or constitute a default under, or result in the creation or imposition of (or the obligation to create or impose) any Lien (except pursuant to the Security
Documents) upon any portion of the property or assets of such Guarantor or any of its 

  
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Subsidiaries pursuant to the terms of any material indenture, mortgage, deed of trust, loan agreement, credit agreement, or any other material agreement, contract or instrument to which such
Guarantor or any of its Subsidiaries is a party or by which it or any of its property or assets is bound or to which it may be subject or y) violate any provision of the certificate or articles of incorporation,
by-laws, partnership agreement or limited liability company agreement (or equivalent organizational documents), as the case may be, of such Guarantor or any of its Subsidiaries; 

(e) no order, consent, approval, license, authorization or validation of, or filing, recording or registration with (except as
have been obtained or made prior to the date when required and which remain in full force and effect), or exemption by, any Governmental Authority is required to be obtained or made by, or on behalf of, such Guarantor to authorize, or is required in
connection with, z) the execution, delivery and performance of this Guaranty by such Guarantor or any other Document to which such Guarantor is a party or aa) the legality, validity, binding effect or enforceability of this Guaranty or any other
Document to which such Guarantor is a party; 
 (f) there are no actions, suits or proceedings pending or, to such
Guarantor’s knowledge, threatened bb) with respect to this Guaranty or any other Document to which such Guarantor is a party or cc) with respect to such Guarantor or any of its Subsidiaries that, either individually or in the aggregate, have
had, or could reasonably be expected to have, a Material Adverse Effect; 
 (g) until the occurrence of the Termination Date,
such Guarantor will comply, and will cause each of its Subsidiaries to comply, with all of the applicable provisions, covenants and agreements contained in Articles 5 and 6 of the Credit Agreement, and will take, or will refrain from taking, as the
case may be, all actions that are necessary to be taken or not taken so that no violation of any provision, covenant or agreement contained in Articles 5 and 6 of the Credit Agreement, so that no Default or Event of Default is caused by the actions
of such Guarantor or any of its Subsidiaries; and 
 (h) an executed (or conformed) copy of each of the Credit Documents and
the Secured Hedging Agreements has been made available to a senior officer of such Guarantor and such officer is familiar with the contents thereof. 

12. Expenses. The Guarantors hereby jointly and severally agree to pay all reasonable invoiced out-of-pocket costs and expenses of the Collateral Agent, the Administrative Agent and each other Secured Creditor in connection with the enforcement of this Guaranty and the protection of the Secured
Creditors’ rights hereunder and any amendment, waiver or consent relating hereto (but limited, with respect to legal expenses, to the reasonable invoiced fees, disbursements and other charges of one single firm of primary counsel, one single
firm of special counsel and one firm of additional local counsel for each applicable jurisdiction) to the extent required under and on then terms set forth in Section 9.05 of the Credit Agreement (it being understood that for purposes hereof,
Section 9.05 of the Credit Agreement shall be deemed to also apply to any Secured Creditor under any Secured Hedging Agreement mutatis mutandis). 

13. Benefit and Binding Effect. This Guaranty shall be binding upon each Guarantor and its successors and assigns and shall inure to the
benefit of the Secured Creditors and their successors and assigns. 

  
 10 

 14. Amendments; Waivers. Neither this Guaranty nor any provision hereof may be changed,
waived, discharged or terminated except with the written consent of each Guarantor directly affected thereby (it being understood that the addition or release of any Guarantor hereunder shall not constitute a change, waiver, discharge or termination
affecting any Guarantor other than the Guarantor so added or released) and with the written consent of the Administrative Agent (with the written consent of the Required Lenders or such other number or percentage of the Lenders as shall be necessary
under the circumstances as provided in Section 9.08 of the Credit Agreement) at all times prior to the time at which all Credit Document Obligations have been paid in full in cash. 

15. Set Off. In addition to any rights now or hereafter granted under applicable law (including, without limitation, Section 151 of
the New York Debtor and Creditor Law) and not by way of limitation of any such rights, upon the occurrence and during the continuance of an Event of Default (such term to mean any “Event of Default” as defined in the Credit Agreement and
any payment default under any Secured Hedging Agreement continuing after any applicable grace period), each Secured Creditor is hereby authorized, at any time or from time to time thereafter, except to the extent prohibited by law, without notice to
any Guarantor or to any other Person, any such notice being expressly waived, to set off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Secured Creditor to or for
the credit or the account of such Guarantor (for the avoidance of doubt, excluding any deposits held by such Guarantor in a custodial account for the benefit of a third party or any property which constitutes Excluded Collateral), against and on
account of the obligations and liabilities of such Guarantor to such Secured Creditor under this Guaranty, irrespective of whether or not such Secured Creditor shall have made any demand hereunder and although said obligations, liabilities, deposits
or claims, or any of them, shall be contingent or unmatured. Notwithstanding anything to the contrary contained in this Guaranty, at any time that the Guaranteed Obligations shall be secured by any Real Property located in the State of California,
no Secured Creditor shall exercise any right of set-off, lien or counterclaim or take any court or administrative action or institute any proceedings to enforce any provision of this Guaranty without the prior
consent of the Administrative Agent or the Required Lenders (or such other number or percentage of the Lenders as shall be necessary under the circumstances as provided in Section 9.08 of the Credit Agreement), if such setoff or action or
proceeding would or might (pursuant to Sections 580a, 580b, 580d and 726 of the California Code of Civil Procedure or Section 2924 of the California Civil Code, if applicable, or otherwise) affect or impair the validity, priority, or
enforceability of the liens granted to the Collateral Agent pursuant to the Security Documents or the enforceability of the Guaranteed Obligations hereunder, and any attempted exercise by any Secured Creditor or the Administrative Agent of any such
right without obtaining such consent of the Required Lenders (or such other number or percentage of the Lenders as shall be necessary under the circumstances as provided in Section 9.08 of the Credit Agreement) or the Administrative Agent shall
be null and void. It is understood and agreed that the foregoing sentence of this Section 15 is for the sole benefit of the Secured Creditors and may be amended, modified or waived in any respect by the Required Lenders (without any requirement
of prior notice to or consent by any Credit Party or any other Person) and does not constitute a waiver of any rights against any Credit Party or against any Collateral. Each Secured Creditor (by its acceptance of the benefits hereof) acknowledges
and agrees that the provisions of this Section 15 are subject to the sharing provisions set forth in Section 2.18 of the Credit Agreement. Notwithstanding anything to the contrary herein or in the Credit Agreement, to the extent prohibited
by applicable law as described in the definition of “Excluded Swap Obligation”, no amounts received from, or set off with respect to, any Guarantor shall be applied, directly or indirectly, to any Excluded Swap Obligations of such
Guarantor. 

  
 11 

 16. Notices. Each notice, request or other communication given hereunder shall be given in
accordance with Section 9.01 of the Credit Agreement and shall be addressed, dd) if to the Borrower, the Administrative Agent or any other Lender Creditor, to such address as such Person shall have specified in the Credit Agreement, ee) if to
any Guarantor other than the Borrower, in the care of the Borrower to such address as the Borrower shall have specified in the Credit Agreement and ff) if to any Other Creditor, to such address as such Other Creditor shall have specified in writing
to the Borrower and the Administrative Agent, or in each case to such other address or addressed to such other individual as shall have been furnished in writing by any Person described above to the party required to give notice hereunder. 

17. Reinstatement. If any claim is ever made upon any Secured Creditor for repayment or recovery of any amount or amounts received in
payment or on account of any of the Guaranteed Obligations and any of the aforesaid payees repays all or part of said amount by reason of (i) any judgment, decree or order of any court or administrative body having jurisdiction over such payee
or any of its property or (ii) any settlement or compromise of any such claim effected by such payee with any such claimant (including, without limitation, the Borrower or any other Guaranteed Party), then and in such event each Guarantor
agrees that any such judgment, decree, order, settlement or compromise shall be binding upon such Guarantor, notwithstanding any revocation hereof or the cancellation of any Note, any Secured Hedging Agreement or any other instrument evidencing any
liability of the Borrower or any other Guaranteed Party, and such Guarantor shall be and remain liable to the aforesaid payees hereunder for the amount so repaid or recovered to the same extent as if such amount had never originally been received by
any such payee. 
 18. Consent to Jurisdiction; Service of Process; and Waiver of Trial By Jury. (a) THIS GUARANTY AND THE RIGHTS AND
OBLIGATIONS OF THE SECURED CREDITORS AND OF THE UNDERSIGNED HEREUNDER SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAW OF THE STATE OF NEW YORK. Each Guarantor hereby irrevocably and unconditionally submits, for itself and its property,
to the exclusive jurisdiction of any New York state court or federal court of the United States of America sitting in New York City, and any appellate court from any thereof, in any action or proceeding arising out of or relating to this Guaranty or
the other Credit 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
such New York state or to the extent permitted by law, in such federal court; provided that suit for the recognition or enforcement of any judgment obtained in any such New York state court or federal court may be brought in any other court
of competent jurisdiction. 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 any in any other manner provided by law.
Nothing in this Guaranty shall affect any right that any Secured Creditor may otherwise have to bring any action or proceeding relating to this Guaranty or the other Credit Documents against any Guarantor or its properties in the courts of any
jurisdiction. 
 (b) Each Guarantor hereby irrevocably and unconditionally waives, to the fullest extent it may legally and
effectively do so, any objection which it may now or hereafter have to the laying of venue of any of the aforesaid suits, actions or proceedings arising out of or relating to this Guaranty or any other Credit Document in any New York state or
federal court. Each of the parties hereto hereby irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance of such actions or proceeding in any such court. Each party to this Guaranty
irrevocably consents to service of process in the manner provided for notices in Section 16. Nothing herein shall affect the right of any party to this Guaranty to serve process in any other manner permitted by law. 

  
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 (c) EACH GUARANTOR AND EACH SECURED CREDITOR (BY ITS ACCEPTANCE OF THE BENEFITS
OF THIS GUARANTY) HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS GUARANTY OR
ANY OF THE OTHER CREDIT DOCUMENTS. 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 GUARANTY AND THE OTHER CREDIT DOCUMENTS, AS APPLICABLE, BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN
THIS SECTION 18. 
 19. Release of Liability of Guarantor. In the event that any of the Guarantors ceases to be a Subsidiary or
becomes an Excluded Subsidiary (or a release of a Guarantor has been approved in writing by the Required Lenders (or such other number or percentage of the Lenders as shall be necessary under the circumstances as provided in Section 9.08 of the
Credit Agreement)), such Guarantor shall, upon ceasing to be a Subsidiary or becoming an Excluded Subsidiary or the effectiveness of such approval, be released from this Guaranty and all obligations hereunder automatically and without further action
and this Guaranty and all obligations hereunder shall, as to each such Guarantor or Guarantors, terminate, and have no further force or effect. 

20. Contribution. At any time a payment in respect of the Guaranteed Obligations is made under this Guaranty, the right of contribution
of each Guarantor against each other Guarantor shall be determined as provided in the immediately following sentence, with the right of contribution of each Guarantor to be revised and restated as of each date on which a payment (a “Relevant
Payment”) is made on the Guaranteed Obligations under this Guaranty. At any time that a Relevant Payment is made by a Guarantor that results in the aggregate payments made by such Guarantor in respect of the Guaranteed Obligations to and
including the date of the Relevant Payment exceeding such Guarantor’s Contribution Percentage (as defined below) of the aggregate payments made by all Guarantors in respect of the Guaranteed Obligations to and including the date of the Relevant
Payment (such excess, the “Aggregate Excess Amount”), each such Guarantor shall have a right of contribution against each other Guarantor who has made payments in respect of the Guaranteed Obligations to and including the date of
the Relevant Payment in an aggregate amount less than such other Guarantor’s Contribution Percentage of the aggregate payments made to and including the date of the Relevant Payment by all Guarantors in respect of the Guaranteed Obligations
(the aggregate amount of such deficit, the “Aggregate Deficit Amount”) in an amount equal to (x) a fraction the numerator of which is the Aggregate Excess Amount of such Guarantor and the denominator of which is the Aggregate
Excess Amount of all Guarantors multiplied by (y) the Aggregate Deficit Amount of such other Guarantor. A Guarantor’s right of contribution pursuant to the preceding sentences shall arise at the time of each computation, subject to
adjustment to the time of each computation; provided that no Guarantor may take any action to enforce such right until the Termination Date has occurred, it being expressly recognized and agreed by all parties hereto that any Guarantor’s
right of contribution arising pursuant to this Section 20 against any other Guarantor shall be expressly junior and subordinate to such other Guarantor’s obligations and liabilities in 

  
 13 

 
respect of the Guaranteed Obligations and any other obligations owing under this Guaranty. As used in this Section 20: (i) each Guarantor’s “Contribution Percentage”
shall mean the percentage obtained by dividing (x) the Adjusted Net Worth (as defined below) of such Guarantor by (y) the aggregate Adjusted Net Worth of all Guarantors; (ii) the “Adjusted Net Worth” of each Guarantor
shall mean the greater of (x) the Net Worth (as defined below) of such Guarantor and (y) zero; and (iii) the “Net Worth” of each Guarantor shall mean the amount by which the fair saleable value of such
Guarantor’s assets on the date of any Relevant Payment exceeds its existing debts and other liabilities (including contingent liabilities, but without giving effect to any Guaranteed Obligations arising under this Guaranty) on such date.
Notwithstanding anything to the contrary contained above, any Guarantor that is released from this Guaranty pursuant to Section 19 hereof shall thereafter have no contribution obligations, or rights, pursuant to this Section 20, and at the
time of any such release, if the released Guarantor had an Aggregate Excess Amount or an Aggregate Deficit Amount, same shall be deemed reduced to $0, and the contribution rights and obligations of the remaining Guarantors shall be recalculated on
the respective date of release (as otherwise provided above) based on the payments made hereunder by the remaining Guarantors. All parties hereto recognize and agree that, except for any right of contribution arising pursuant to this
Section 20, each Guarantor who makes any payment in respect of the Guaranteed Obligations shall have no right of contribution or subrogation against any other Guarantor in respect of such payment until the occurrence of the Termination Date.
Each of the Guarantors recognizes and acknowledges that the rights to contribution arising hereunder shall constitute an asset in favor of the party entitled to such contribution. In this connection, each Guarantor has the right to waive its
contribution right against any Guarantor to the extent that after giving effect to such waiver such Guarantor would remain solvent, in the determination of the Required Lenders. 

21. Limitation on Guaranteed Obligations. Each Guarantor and each Secured Creditor (by its acceptance of the benefits of this Guaranty)
hereby confirms that it is its intention that this Guaranty not constitute a fraudulent transfer or conveyance for purposes of the Bankruptcy Code, the Uniform Fraudulent Conveyance Act or any similar Federal or state law. To effectuate the
foregoing intention, each Guarantor and each Secured Creditor (by its acceptance of the benefits of this Guaranty) hereby irrevocably agrees that the Guaranteed Obligations guaranteed by such Guarantor shall be limited to such amount as will, after
giving effect to such maximum amount and all other (contingent or otherwise) liabilities of such Guarantor that are relevant under such laws and after giving effect to any rights to contribution pursuant to any agreement (including any rights of
contribution provided for pursuant to this Guaranty) providing for an equitable contribution among such Guarantor and the other Guarantors, result in the Guaranteed Obligations of such Guarantor in respect of such maximum amount not constituting a
fraudulent transfer or conveyance. 
 22. Counterparts. This Guaranty may be executed in any number of counterparts and by the
different parties hereto on separate counterparts (including by facsimile or other form of electronic transmission), each of which when so executed and delivered shall be an original, but all of which shall together constitute one and the same
instrument. A set of counterparts executed by all the parties hereto shall be lodged with the Borrower and the Administrative Agent. 
 23.
Payments. All payments made by any Guarantor hereunder will be made without setoff, counterclaim or other defense and on the same basis as payments are made by the Borrower under Section 2.19 of the Credit Agreement. 

  
 14 

 24. Additional Guarantors. It is understood and agreed that any Wholly-Owned Domestic
Subsidiary of Borrower that is required to execute a counterpart of this Guaranty after the date hereof pursuant to the Credit Agreement shall become a Guarantor hereunder by (x) executing a counterpart hereof and delivering same to the
Administrative Agent or executing an assumption agreement and delivering same to the Administrative Agent, in each case as may be requested by (and in form and substance reasonably satisfactory to) the Administrative Agent and (y) taking all
actions as specified in this Guaranty as would have been taken by such Guarantor had it been an original party to this Guaranty, in each case with all documents and actions required to be taken to the reasonable satisfaction of the Administrative
Agent. 
 25. Headings Descriptive. The headings of the several Sections of this Guaranty are inserted for convenience only and shall
not in any way affect the meaning or construction of any provision of this Guaranty. 
 26. Keepwell. Each Qualified ECP
Guarantor hereby jointly and severally absolutely, unconditionally and irrevocably undertakes to provide such funds or other support as may be needed from time to time by each other Guarantor to honor all of its obligations under this Guaranty in
respect of Swap Obligations (provided, however, that each Qualified ECP Guarantor shall only be liable under this Section 26 for the maximum amount of such liability that can be hereby incurred without rendering its obligations under this
Section 26, or otherwise under this Guaranty, voidable under applicable law relating to fraudulent conveyance or fraudulent transfer, and not for any greater amount). The obligations of each Qualified ECP Guarantor under this Section shall
remain in full force and effect until the Termination Date and the repayment, satisfaction or discharge of all other Guaranteed Obligations. Each Qualified ECP Guarantor intends that this Section 26 constitute, and this Section 26 shall be
deemed to constitute, a “keepwell, support, or other agreement” for the benefit of each other Guarantor for all purposes of Section 1a(18)(A)(v)(II) of the Commodity Exchange Act. 

27. Amendment and Restatement. This Agreement constitutes for all purposes an amendment and restatement of the Existing
Subsidiaries Guaranty. The Existing Subsidiaries Guaranty, as amended and restated hereby, continues in full force and effect as so amended and restated by this Agreement. Nothing contained in this Agreement shall constitute or be construed as a
novation of any of the Guaranteed Obligations. 
 * * * 

  
 15 

 IN WITNESS WHEREOF, each Guarantor has caused this Guaranty to be executed and delivered as of the date first
above written. 
  

			
	DITECH FINANCIAL LLC
	GREEN TREE CREDIT SOLUTIONS LLC
	GREEN TREE SERVICING CORP.
	WALTER MANAGEMENT HOLDING COMPANY LLC
	DF INSURANCE AGENCY LLC
	GREEN TREE INVESTMENT HOLDINGS III LLC
	GREEN TREE INSURANCE AGENCY OF NEVADA, INC.,
	each as a Guarantor
		
	By:	 	  

		 	Name: Cheryl A. Collins
		 	Title: Senior Vice President and Treasurer
	
	 WALTER REVERSE ACQUISITION LLC, as a Guarantor

		
	By:	 	  

		 	Name: Cheryl A. Collins
		 	Title: Treasurer
	
	GREEN TREE CREDIT LLC, as a Guarantor
		
	By:	 	  

		 	Name: Anthony Renzi
		 	Title: President and Treasurer
	
	MORTGAGE ASSET SYSTEMS, LLC
	REO MANAGEMENT SOLUTIONS, LLC, each as a Guarantor
		
	By:	 	  

		 	Name: Jeffery Baker
		 	Title: President
	
	REVERSE MORTGAGE SOLUTIONS, INC., as a Guarantor
		
	By:	 	  

		 	Name: Cheryl A. Collins
		 	Title: Senior Vice President

 [Signature Page to Amended and Restated Subsidiaries Guaranty] 

			
	 Accepted and Agreed to:
  

CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, as Administrative Agent

		
	By:	 	  

		 	Name:
		 	Title:
		
	By:	 	  

		 	Name:
		 	Title:

 [Signature Page to Amended and Restated Subsidiaries Guaranty] 

 EXHIBIT F 

FORM OF INTERCOMPANY SUBORDINATION AGREEMENT 

  
 F-1 

 Execution Version 

AMENDED AND RESTATED INTERCOMPANY SUBORDINATION AGREEMENT 

THIS AMENDED AND RESTATED INTERCOMPANY SUBORDINATION AGREEMENT (as amended, restated, amended and restated, supplemented and/or otherwise
modified from time to time, this “Agreement”), dated as of February 9, 2018, made by each of the undersigned (each, a “Party” and, together with any entity that becomes a party to this Agreement pursuant to
Section 9 hereof, the “Parties”) and Credit Suisse AG, Cayman Islands Branch, as collateral agent (in such capacity, together with any successor collateral agent, the “Collateral Agent”), for the benefit of the
Senior Creditors (as defined below). Unless otherwise defined herein, all capitalized terms used herein shall have the meanings ascribed to them in the Credit Agreement referred to below. 

W I T N E S S E T H: 

WHEREAS, Ditech Holding Corporation (formerly known as Walter Investment Management Corp.), a Maryland corporation (the
“Borrower”), the lenders from time to time party thereto (the “Lenders”) and Credit Suisse AG, Cayman Islands Branch, as administrative agent (in such capacity, together with any successor administrative agent, the
“Administrative Agent”) and Collateral Agent, have entered into a Second Amended and Restated Credit Agreement, dated as of February 9, 2018, which amends and restates that certain Amended and Restated Credit Agreement, dated
as of December 19, 2013, by and among the Borrower, the Lenders, the Administrative Agent and the Collateral Agent, providing for the making of Loans to the Borrower, all as contemplated therein (with the Lenders, the Issuing Banks, the
Administrative Agent and the Collateral Agent being herein called the “Lender Creditors”) (as used herein, the term “Credit Agreement” means the Second Amended and Restated Credit Agreement described above in this
paragraph, as the same may be amended, restated, amended and restated, modified, supplemented, extended, renewed, refinanced, replaced, or refunded from time to time, and including any agreement extending the maturity of, or refinancing or
restructuring (including, but not limited to, the inclusion of additional borrowers or guarantors thereunder or any increase in the amount borrowed) all or any portion of, the indebtedness under such agreement or any successor agreement, whether or
not with the same agent, trustee, representative, lenders or holders); 
 WHEREAS, the Borrower and/or one or more of its Subsidiaries that
is a Credit Party may at any time and from time to time enter into one or more Interest Rate Protection Agreements and/or Other Hedging Agreements with one or more Lenders or any affiliate thereof (each such Lender or affiliate, even if the
respective Lender subsequently ceases to be a Lender under the Credit Agreement for any reason, together with such Lender’s or affiliate’s successors and assigns, if any, collectively, the “Other Creditors” and, together
with the Lender Creditors, the “Secured Creditors”; and with each such Interest Rate Protection Agreement and/or Other Hedging Agreement with an Other Creditor being herein called a “Secured Hedging Agreement”);

 WHEREAS, pursuant to the Subsidiaries Guaranty, each Subsidiary Guarantor has jointly and severally guaranteed to the Secured Creditors
the payment when due of all Guaranteed Obligations (as defined in the Subsidiaries Guaranty); 
 WHEREAS, the Borrower, the Collateral Agent
and certain of the other Parties are party to that certain (i) Intercompany Subordination Agreement, dated as of November 28, 2012 (as amended, restated, amended and restated, supplemented and/or otherwise modified prior to the date

 
hereof, the “Existing 2012 Intercompany Subordination Agreement”) and (ii) Intercompany Subordination Agreement, dated as of April 30, 2013 (as amended, restated,
amended and restated, supplemented and/or otherwise modified prior to the date hereof, the “Existing 2013 Intercompany Subordination Agreement” and together with the Existing 2012 Intercompany Subordination Agreement, collectively,
the “Existing Intercompany Subordination Agreement”); 
 WHEREAS, pursuant to the Credit Agreement, the Parties and the
Collateral Agent (at the direction of the Lenders) have agreed to amend and restate the Existing Intercompany Subordination Agreement on the terms and conditions specified herein; and 

WHEREAS, additional Parties may from time to time become parties hereto in order to allow for certain extensions of credit in accordance with
the requirements of the Credit Agreement. 
 NOW, THEREFORE, in consideration of the mutual promises contained herein and other good and
valuable consideration, the receipt and sufficiency of which is hereby acknowledged by the parties hereto, the Existing Intercompany Subordination Agreement is amended and restated as specified herein and the Parties and the Collateral Agent (for
the benefit of the Senior Creditors) hereby agree as follows: 
 1. The Subordinated Debt (as defined in Section 7 hereof) and all
payments of principal, interest and all other amounts thereunder are hereby, and shall continue to be, subject and subordinate in right of payment to the prior payment in full, in cash, of all Senior Indebtedness (as defined in Section 7
hereof) to the extent, and in the manner, set forth herein. The foregoing shall apply notwithstanding the availability of collateral to the Senior Creditors or the holders of Subordinated Debt or the actual date and time of execution, delivery,
recordation, filing or perfection of any security interests granted with respect to the Senior Indebtedness or the Subordinated Debt, or the lien or priority of payment thereof, and in any instance wherein the Senior Indebtedness or any claim for
the Senior Indebtedness is subordinated, avoided or disallowed, in whole or in part, under the Bankruptcy Code or other applicable federal, foreign, state or local law. In the event of a proceeding, whether voluntary or involuntary, for insolvency,
liquidation, reorganization, dissolution, bankruptcy or other similar proceeding pursuant to the Bankruptcy Code or other applicable federal, foreign, state or local law (each, a “Bankruptcy Proceeding”), the Senior Indebtedness
shall include all Post-Petition Interest. 
 2. Each Party (as a lender of any Subordinated Debt) hereby agrees that until
all Senior Indebtedness has been repaid in full in cash: 
 (a) Such Party shall not, without the prior written consent of the Required
Senior Creditors (as defined in Section 7 hereof), which consent may be withheld or conditioned on the Required Senior Creditors’ sole discretion, commence, or join or participate in, any Enforcement Action (as defined in Section 7
hereof). 
 (b) In the event that (i) all or any portion of any Senior Indebtedness becomes due (whether at stated maturity, by
acceleration or otherwise), (ii) any Event of Default under the Credit Agreement or any event of default under, and as defined in, any other Senior Indebtedness (or the documentation governing the same), then exists or would result from such payment
on the Subordinated Debt, (iii) such Party receives any payment or prepayment of principal, interest or any other amount, in whole or in part, of (or with respect to) the Subordinated Debt in violation of the terms of the Credit Agreement or
any other Senior Indebtedness (or the 

 
documentation governing the same) or (iv) any distribution, division or application, partial or complete, voluntary or involuntary, by operation of law or otherwise, is made of all or any
part of the property, assets or business of the Borrower or any of its Subsidiaries or the proceeds thereof, in whatever form, to any creditor or creditors of the Borrower or any of its Subsidiaries or to any holder of indebtedness of the Borrower
or any of its Subsidiaries or by reason of any liquidation, dissolution or other winding up of the Borrower, any of its Subsidiaries or their respective businesses, or of any receivership or custodianship for the Borrower or any of its Subsidiaries
or of all or substantially all of their respective property, or of any insolvency or bankruptcy proceedings or assignment for the benefit of creditors or any proceeding by or against the Borrower or any of its Subsidiaries for any relief under any
bankruptcy, reorganization or insolvency law or laws, federal, foreign, state or local, or any law, federal, foreign, state or local relating to the relief of debtors, readjustment of indebtedness, reorganization, composition or extension, then, and
in any such event, any payment or distribution of any kind or character, whether in cash, property, securities or otherwise which shall be payable or deliverable with respect to any or all of the Subordinated Debt or which has been received by any
Party shall be held in trust by such Party for the benefit of the Senior Creditors and shall forthwith be paid or delivered directly to the Senior Creditors for application to the payment of the Senior Indebtedness (after giving effect to the
relative priorities of such Senior Indebtedness) to the extent necessary to make payment in full in cash of all sums due under the Senior Indebtedness remaining unpaid after giving effect to any concurrent payment or distribution to the Senior
Creditors. In any such event, the Senior Creditors may, but shall not be obligated to, demand, claim and collect any such payment or distribution that would, but for these subordination provisions, be payable or deliverable with respect to the
Subordinated Debt. In the event of the occurrence of any event referred to in subclauses (i), (ii), (iii) or (iv) of the second preceding sentence of this clause (b) and until the Senior Indebtedness shall have been fully paid in cash and
satisfied and all of the obligations of the Borrower and any of its Subsidiaries to the Senior Creditors have been performed in full, no payment of any kind or character (whether in cash, property, securities or otherwise) shall be made to or
accepted by any Party in respect of the Subordinated Debt. Notwithstanding anything to the contrary contained above, if one or more of the events referred to in subclauses (i) through (iv) of the first sentence of this clause (b) is in
existence, the Required Senior Creditors may agree in writing that payments may be made with respect to the Subordinated Debt which would otherwise be prohibited pursuant to the provisions contained above; provided that any such waiver shall
be specifically limited to the respective payment or payments which the Required Senior Creditors agree may be so paid to any Party in respect of the Subordinated Debt. 

(c) If such Party shall acquire by indemnification, subrogation or otherwise, any lien, estate, right or other interest in any of the assets or
properties of the Borrower or any of its Subsidiaries, that lien, estate, right or other interest shall be subordinate in right of payment to the Senior Indebtedness and the lien of the Senior Indebtedness as provided herein, and such Party hereby
waives any and all rights it may acquire by subrogation or otherwise to any lien of the Senior Indebtedness or any portion thereof until such time as all Senior Indebtedness has been repaid in full in cash. 

(d) Such Party shall not pledge, assign, hypothecate, transfer, convey or sell any Subordinated Debt or any interest in any Subordinated Debt
to any entity (other than under the relevant Security Documents (as hereinafter defined)) without the prior written consent of the Administrative Agent (with the prior written consent of the Required Senior Creditors). 

 (e) After request by the Administrative Agent or the Required Senior Creditors, such Party shall
within ten (10) days furnish the Senior Creditors with a statement, duly acknowledged and certified setting forth the original principal amount of the notes or loans evidencing the indebtedness of the Subordinated Debt, the unpaid principal
balance, all accrued but unpaid interest and any other sums due and owing thereunder, the rate of interest, the monthly payments and that, to the best knowledge of such Party, there exists no defaults under the Subordinated Debt, or if any such
defaults exist, specifying the defaults and the nature thereof. 
 (f) In any case commenced by or against the Borrower or any of its
Subsidiaries under the Bankruptcy Code or any similar federal, foreign, state or local statute (a “Reorganization Proceeding”), to the extent permitted by applicable law, the Required Senior Creditors shall have the exclusive right
to exercise any voting rights in respect of the claims of such Party against the Borrower or any of its Subsidiaries. 
 (g) If, at any time,
all or part of any payment with respect to Senior Indebtedness theretofore made (whether by the Borrower, any other Credit Party or any other Person or enforcement of any right of setoff or otherwise) is rescinded or must otherwise be returned by
the holders of Senior Indebtedness for any reason whatsoever (including, without limitation, the insolvency, bankruptcy or reorganization of the Borrower, any other Credit Party or such other Persons), the subordination provisions set forth herein
shall continue to be effective or be reinstated, as the case may be, all as though such payment had not been made. 
 (h) Such Party shall
not object to the entry of any order or orders approving any cash collateral stipulations, adequate protection stipulations or similar stipulations executed by the Senior Creditors in any Reorganization Proceeding or any other proceeding under the
Bankruptcy Code. 
 (i) Such Party waives any marshalling rights with respect to the Senior Creditors in any Reorganization Proceeding or any
other proceeding under the Bankruptcy Code. 
 3. Each Party hereby represents, warrants and covenants as follows: 

(a) each Party will deliver a schedule setting forth all Intercompany Debt to the Administrative Agent within ten (10) days after any
request by the Administrative Agent or the Required Senior Creditors (although any failure to deliver such a supplement shall have no effect whatsoever on the subordination provisions contained herein, which shall apply to all Subordinated Debt
whether or not listed on said schedule); and 
 (b) each Party will not lend, hold or permit to exist any Intercompany Debt owed by it or to
it (in accordance with the definition thereof contained herein) unless each obligee or obligor, as the case may be, with respect to such Intercompany Debt is (or concurrently with such extension becomes) a Party to this Agreement. 

4. Any payments made to, or received by, any Party in respect of any guaranty or security in support of the Subordinated Debt shall be subject
to the terms of this Agreement and applied on the same basis as payments made directly by the obligor under such Subordinated Debt. To the extent that the Borrower or any of its Subsidiaries (other than the

 
respective obligor or obligors which are already Parties hereto) provides a guaranty or any security in support of any Subordinated Debt, the Party which is the lender of the respective
Subordinated Debt will cause each such Person to become a Party hereto (if such Person is not already a Party hereto) not later than the date of the execution and delivery of the respective guarantee or security documentation; provided that
any failure to comply with the foregoing requirements of this Section 4 will have no effect whatsoever on the subordination provisions contained herein (which shall apply to all payments received with respect to any guarantee or security for
any Subordinated Debt, whether or not the Person furnishing such guarantee or security is a Party hereto). 
 5. Each Party hereby
acknowledges and agrees that no payments will be accepted by it in respect of the Subordinated Debt (unless promptly turned over to the holders of Senior Indebtedness as contemplated by Section 2 above) to the extent such payments would be
prohibited under any Senior Indebtedness (or the documentation governing the same, including this Agreement). 
 6. In addition to the
foregoing agreements, each Party hereby acknowledges and agrees that, with respect to all Intercompany Debt (whether or not same constitutes Subordinated Debt), that (x) such Intercompany Debt (and any promissory notes or other instruments
evidencing same) may be pledged, and delivered for pledge, by the Borrower or any of its Subsidiaries pursuant to any Security Document (as used herein, the term “Security Documents” shall have the meaning provided in the Credit
Agreement and shall include any security documentation executed and delivered in connection with any replacement or refinancing Credit Agreement) to which the Borrower or such respective Subsidiary is, or at any time in the future becomes, a party
and (y) with respect to all Intercompany Debt so pledged, the Collateral Agent shall be entitled to exercise all rights and remedies with respect to such Intercompany Debt to the maximum extent provided in the various Security Documents (in
accordance with the terms thereof and subject to the requirements of applicable law). Furthermore, with respect to all Intercompany Debt at any time owed to the Borrower or any of its Subsidiaries which is a Credit Party, and notwithstanding
anything to the contrary contained in the terms of such Intercompany Debt, each obligor (including any guarantor) and obligee with respect to such Intercompany Debt hereby agrees, for the benefit of the holders from time to time of the Senior
Indebtedness, that the Administrative Agent or the Collateral Agent may at any time, and from time to time, acting on its own or at the request of the Required Senior Creditors, accelerate the maturity of such Intercompany Debt if (x) any
obligor (including any guarantor) of such Intercompany Debt is subject to any Bankruptcy Proceeding or (y) any Event of Default shall have occurred and be continuing. Any such acceleration of the maturity of any Intercompany Debt shall be made
by written notice by the Administrative Agent or the Collateral Agent to the obligor on the respective Intercompany Debt; provided that no such notice shall be required (and the acceleration shall automatically occur) either upon the
occurrence of a Bankruptcy Proceeding with respect to the respective obligor (or any guarantor) of the respective Intercompany Debt or upon (or following) any acceleration of the maturity of any Loans pursuant to the Credit Agreement. 

7. Definitions. As and in this Agreement, the terms set forth below shall have the respective meanings provided below: 

“Credit Document Obligations Termination Date” shall mean the first date after the Closing Date upon which all
Commitments and Letters of Credit under the Credit Agreement have terminated and all Credit Document Obligations have been paid in full in cash. 

 “Enforcement Action” shall mean any acceleration of all or any
part of the Subordinated Debt, any foreclosure proceeding, the exercise of any power of sale, the obtaining of a receiver, the seeking of default interest, the suing on, or otherwise taking action to enforce the obligation of the Borrower or any of
its Subsidiaries to pay any amounts relating to, any Subordinated Debt, the exercising of any banker’s lien or rights of set-off or recoupment, the institution of a Bankruptcy Proceeding against the
Borrower or any of its Subsidiaries, or the taking of any other enforcement action against any asset or Property of the Borrower or its Subsidiaries. 

“Existing 2012 Intercompany Subordination Agreement” shall have the meaning provided in the recitals to this
Agreement. 
 “Existing 2013 Intercompany Subordination Agreement” shall have the meaning provided in the
recitals to this Agreement. 
 “Existing Intercompany Subordination Agreement” shall have the meaning
provided in the recitals to this Agreement. 
 “Obligation” shall mean any principal, interest (including
Post-Petition Interest), premium, penalties, fees, indemnities and other liabilities and obligations payable under the documentation governing any indebtedness and all guaranties of the foregoing amounts. 

“Post-Petition Interest” means any interest that accrues after the commencement of any case, proceeding or
other action relating to the bankruptcy, insolvency or reorganization of any one or more of the Borrower and its Subsidiaries (or would accrue but for the operation of applicable bankruptcy or insolvency laws), whether or not such interest is
allowed or allowable as a claim in any such proceeding. 
 “Required Senior Creditors” shall mean
(i) the Required Lenders (or, to the extent required by Section 9.08 of the Credit Agreement, each of the Lenders) at all times prior to the Credit Document Obligations Termination Date, and (ii) the holders of at least a majority of
the outstanding Senior Indebtedness at all times from and after the Credit Document Obligations Termination Date. 

“Secured Hedging Agreement” shall have the meaning provided in the recitals to this Agreement. 

“Senior Creditors” shall mean all holders from time to time of any Senior Indebtedness and shall include,
without limitation, the Lender Creditors and the Other Creditors. 
 “Senior Indebtedness” shall mean: 

(i) all Obligations (including, without limitation, (x) all Post-Petition Interest or interest accruing after any act
which constitutes a Default or an Event of Default pursuant to Section 7.01(e) of the Credit Agreement at the stated contract rate, regardless of whether allowed or allowable in the respective bankruptcy or other preceding, and
(y) Obligations which, but for the automatic stay under Section 

 
362(a) of the Bankruptcy Code, would become due) and liabilities (including, without limitation, indemnities, Fees and interest thereon) of each Credit Party (whether as obligor, guarantor or
otherwise) to the Lender Creditors, whether now existing or hereafter incurred under, arising out of or in connection with each Credit Document to which it is at any time a party (including, without limitation, all such obligations and liabilities
of each Credit Party under the Credit Agreement (if a party thereto) and under the Subsidiaries Guaranty (if a party thereto) or under any other guarantee by it of obligations pursuant to the Credit Agreement) and the due performance and compliance
by each Credit Party with the terms of each such Credit Document (all such Obligations under this clause (i), except to the extent consisting of Obligations with respect to Secured Hedging Agreements, being herein collectively called the
“Credit Document Obligations”); and 
 (ii) all Obligations (including, without limitation, (x) all
Post-Petition Interest or interest accruing after any act which constitutes a Default or an Event of Default pursuant to Section 7.01(e) of the Credit Agreement at the stated contract rate, regardless of whether allowed or allowable in the
respective bankruptcy or other preceding, and (y) Obligations which, but for the automatic stay under Section 362(a) of the Bankruptcy Code, would become due) and liabilities of each Credit Party to the Other Creditors, whether now
existing or hereafter incurred under, arising out of or in connection with any Secured Hedging Agreement (including, without limitation, all such obligations and liabilities of such Credit Party under the Subsidiaries Guaranty (if a party thereto)
with respect thereto or under any other guarantee by it of obligations pursuant to any Secured Hedging Agreement) and the due performance and compliance by each Credit Party with the terms of each such Secured Hedging Agreement. 

“Subordinated Debt” shall mean the principal of, interest on, and all other amounts owing from time to time in
respect of, all Intercompany Debt owed by a Credit Party to a Person that is not a Credit Party (including, without limitation, pursuant to guarantees thereof or security therefor and intercompany payables not evidenced by a note) at any time
outstanding. 
 8. Each Party agrees to be fully bound by all terms and provisions contained in this Agreement, both with respect to any
Subordinated Debt (including any guarantees thereof and security therefor) owed to it, and with respect to all Subordinated Debt (including all guarantees thereof and security therefor) owing by it. 

9. It is understood and agreed that any Subsidiary of the Borrower that is required to execute a counterpart of this Agreement after the date
hereof pursuant to the requirements of the Credit Agreement or any other Senior Indebtedness shall become a Party hereunder by executing a counterpart hereof (or a joinder agreement in form and substance reasonably satisfactory to the Administrative
Agent) and delivering same to the Collateral Agent. 
 10. No failure or delay on the part of any party hereto or any holder of Senior
Indebtedness in exercising any right, power or remedy hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such right, power or remedy preclude any other or further exercise thereof or the exercise of any
other right, power or remedy hereunder. 

 11. Each Party hereto acknowledges that to the extent that no adequate remedy at law exists for
breach of its obligations under this Agreement, in the event any Party fails to comply with its obligations hereunder, the Collateral Agent, the Administrative Agent or the holders of Senior Indebtedness shall have the right to obtain specific
performance of the obligations of such defaulting Party, injunctive relief or such other equitable relief as may be available. 
 12. Any
notice to be given under this Agreement shall be sent in accordance with the provisions of Section 9.01 of the Credit Agreement (and in the case of any notice to be given to a Subsidiary of the Borrower, such notice shall be sent to the
attention of the Borrower and in accordance with the provisions of the Credit Agreement). 
 13. In the event of any conflict between the
provisions of this Agreement and the provisions of the Subordinated Debt, the provisions of this Agreement shall prevail. 
 14. No person
other than the parties hereto, the Senior Creditors from time to time and their successors and assigns as holders of the Senior Indebtedness and the Subordinated Debt shall have any rights under this Agreement. 

15. This Agreement may be executed in any number of counterparts each of which shall be deemed an original but all of which together shall
constitute one and the same instrument. 
 16. No amendment, supplement, modification, waiver or termination of this Agreement shall be
effective against a party against whom the enforcement of such amendment, supplement, modification, waiver or termination would be asserted, unless such amendment, supplement, modification, waiver or termination was made in a writing signed by such
party; provided that amendments hereto shall be effective as against the Senior Creditors only if executed and delivered by the Collateral Agent (with the written consent of the Required Senior Creditors at such time). 

17. In case any one or more of the provisions contained in this Agreement, or any application thereof, shall be invalid, illegal or
unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein, and any other application thereof, shall not in any way be affected or impaired thereby. 

18. (a) THIS AGREEMENT AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER OR RELATED TO THIS AGREEMENT (INCLUDING, WITHOUT
LIMITATION, ANY CLAIMS SOUNDING IN CONTRACT LAW OR TORT LAW ARISING OUT OF THE SUBJECT MATTER HEREOF) SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK. 

(b) Each Party hereby irrevocably and unconditionally submits, for itself and its property, to the exclusive jurisdiction of any New York state
court or federal court of the United States of America sitting in New York City, and any appellate court from any thereof, in any action or proceeding arising out of or relating to this Agreement, or for recognition or enforcement of any judgment,
and each of the parties hereto hereby irrevocably and unconditionally agrees that all claims in respect of any such action or proceeding may be heard and determined in such New York state or, to the extent permitted by law, in such federal court;

 
provided that suit for the recognition or enforcement of any judgment obtained in any such New York state or federal court may be brought in any other court of competent
jurisdiction. Each Party 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 the Administrative Agent, the Collateral Agent, any Issuing Bank or any Lender may otherwise have to bring any action or proceeding relating to this Agreement against the Borrower or its properties in the courts of any
jurisdiction. 
 (c) Each Party hereby irrevocably and unconditionally waives, to the fullest extent it may legally and effectively do so,
any objection which 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 in any New York state or federal court. Each of the parties hereto hereby 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. 

(d) EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT
OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT. 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 18(D). 
 19. This Agreement shall bind and inure to the benefit of the
Administrative Agent, the other Senior Creditors and each Party and their respective successors, permitted transferees and assigns. 
 20.
NOTWITHSTANDING ANYTHING HEREIN TO THE CONTRARY, THE EXERCISE OF ANY RIGHT OR REMEDY BY THE COLLATERAL AGENT WITH RESPECT TO ANY COLLATERAL HEREUNDER ARE SUBJECT TO THE PROVISIONS OF EACH INTERCREDITOR AGREEMENT. IN THE EVENT OF ANY CONFLICT BETWEEN
THE PROVISIONS OF ANY INTERCREDITOR AGREEMENT AND THIS AGREEMENT, THE PROVISIONS OF SUCH INTERCREDITOR AGREEMENT SHALL GOVERN AND CONTROL. 

21. This Agreement constitutes for all purposes an amendment and restatement of the Existing Intercompany Subordination Agreement. The Existing
Intercompany Subordination Agreement, as amended and restated hereby, continues in full force and effect as so amended and restated by this Agreement. Nothing contained in this Agreement shall constitute or be construed as a novation of any of the
Secured Obligations. 
 * * * 

 IN WITNESS WHEREOF, each Party and the Collateral Agent have caused this Agreement to be executed by their duly
elected officers duly authorized as of the date first above written. 
  

			
	DITECH HOLDING CORPORATION 
	DITECH FINANCIAL LLC
	GREEN TREE CREDIT SOLUTIONS LLC 
	GREEN TREE SERVICING CORP. 
	WALTER MANAGEMENT HOLDING COMPANY LLC 
	DF INSURANCE AGENCY LLC 
	GREEN TREE INVESTMENT HOLDINGS III LLC
	 GREEN TREE INSURANCE AGENCY OF NEVADA, INC., 

each as a Party

		
	By:	 	  

		 	Name: Cheryl A. Collins
		 	Title: Senior Vice President and Treasurer
	
	WALTER REVERSE ACQUISITION LLC, as a Party
		
	By:	 	  

		 	Name: Cheryl A. Collins
		 	Title: Treasurer
	
	GREEN TREE CREDIT LLC, as a Party
		
	By:	 	  

		 	Name: Anthony Renzi
		 	Title: President and Treasurer
	
	MORTGAGE ASSET SYSTEMS, LLC 
	REO MANAGEMENT SOLUTIONS, LLC, each as a Party
		
	By:	 	  

		 	Name: Jeffery Baker
		 	Title: President
	
	REVERSE MORTGAGE SOLUTIONS, INC., as a Party
		
	By:	 	  

		 	Name: Cheryl A. Collins
		 	Title: Senior Vice President

 [Signature Page to Amended and Restated Intercompany Subordination Agreement] 

			
	CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, as Collateral Agent
		
	By:	 	  

		 	Name:
		 	Title:
		
	By:	 	  

		 	Name:
		 	Title:

 [Signature Page to Amended and Restated Intercompany Subordination Agreement] 

 EXHIBIT G 

FORM OF COMPLIANCE CERTIFICATE 

This Compliance Certificate is delivered to you pursuant to Section 5.01(f) of the Second Amended and Restated Credit Agreement, dated as
of February 9, 2018 (as amended, restated, amended and restated, supplemented and/or otherwise modified from time to time, the “Credit Agreement”), among Ditech Holding Corporation (formerly known as Walter Investment
Management Corp.), a Maryland corporation (the “Borrower”), the lenders from time to time party thereto, and Credit Suisse AG, Cayman Islands Branch, as Administrative Agent and Collateral Agent. Terms defined in the Credit
Agreement and not otherwise defined herein are used herein as therein defined. 
 1.    I am a duly elected, qualified
and acting Authorized Officer of the Borrower. 
 2.    I have reviewed and am familiar with the contents of this
Compliance Certificate. I am providing this Compliance Certificate solely in my capacity as an Authorized Officer of the Borrower. The matters set forth herein are true to the best of my knowledge after due inquiry. 

3.    I have reviewed the terms of the Credit Agreement and the other Credit Documents and have made or caused to be made
under my supervision a review in reasonable detail of the transactions and condition of the Borrower and its Subsidiaries during the accounting period covered by the financial statements attached hereto as ANNEX 1 (the “Financial
Statements”). Such review did not disclose the existence during or at the end of the accounting period covered by the Financial Statements, and I have no knowledge of the existence, as of the date of this Compliance Certificate, of the
occurrence and continuation of any Default or Event of Default[, except for             ]. 

4.    Attached hereto as ANNEX 2 is the information required to establish compliance with Sections 6.07, 6.08 and 6.09 of
the Credit Agreement for the Test Period ended on [        ]1 (the “Computation Date”) (including computations showing (in reasonable
detail) such compliance). 
 5.    Attached hereto as ANNEX 3 is the information required to establish compliance with
Sections 2.13(b), 2.13(c) and 2.13(e) of the Credit Agreement as of the Computation Date or the applicable period ending on such date (including computations showing (in reasonable detail) such compliance). 

6.    Attached hereto as ANNEX 4 is a list of all Immaterial Subsidiaries and Unrestricted Subsidiaries. 

7.     The Borrower hereby (a) reaffirms its obligations under the Credit Agreement and each other Credit Document to
which it is a party. 
  

	1 	Insert the last day of the respective fiscal quarter or year covered by the financial statements which are required to be accompanied by this Compliance Certificate. 

  
 G-1 

 [8.    Attached hereto as ANNEX 5 is the information in reasonable detail
required to evidence the amount of (and the calculations required to establish the amount of) Excess Cash Flow for the fiscal year ended on December 31, [    ].]2 

[9.     There have been no changes to Schedules 1 through 8 of the Security Agreement and Annexes A through G of the
Pledge Agreement, in each case since [the Closing Date][the date of the most recent certificate delivered pursuant to Section 5.01(f) of the Credit Agreement] [other than as set forth in Annex [6][7] attached hereto, and the Borrower and the
other Credit Parties have taken all actions required to be taken by them pursuant to such Security Documents in connections with the changes set forth in Annex [6][7]]3.] 

*    *    * 
  

 
  

	2 	To be included for any Compliance Certificate being delivered with the financial statements required by Section 5.01(c) of the Credit Agreement (commencing with the annual financial statements with respect to the
fiscal year ending December 31, 2018). 

	3 	Changes to be include only to the extent that such changes are required to be reported to the Collateral Agent pursuant to the terms of such Security Documents. 

  
 G-2 

 IN WITNESS WHEREOF, in my capacity as an Authorized Officer of the Borrower and not in my
individual capacity, I have executed this Compliance Certificate this          day of         . 

 

			
	DITECH HOLDING CORPORATION

 
			
		
	By:	 	  

 
			
	Name:	 	
	Title:	 	

  
 G-3 

 ANNEX 1 

[Applicable Financial Statements To Be Attached] 

  
 G-4 

 ANNEX 2 

[Information demonstrating compliance with Sections 6.07, 6.08 and 6.09 of the Credit Agreement To Be Attached] 

 

	A.	Asset Coverage Ratio A for the applicable Test Period ending on the Computation Date 

  

	 	(i)	        :1.00; minimum Asset Coverage Ratio A required under Section 6.07(a) of the Credit Agreement for the applicable Test Period: 1.[ ]0:1.00. 

 

	B.	Asset Coverage Ratio B for the applicable Test Period ending on the Computation Date 

  

	 	(i)	        :1.00; minimum Asset Coverage Ratio B required under Section 6.07(b) of the Credit Agreement for the applicable Test Period: 1.00:1.00. 

 

	C.	Interest Expense Coverage Ratio for the applicable Test Period ending on the Computation Date 

  

	 	(i)	        :1.00; minimum Interest Expense Coverage Ratio required under Section 6.08 of the Credit Agreement for the applicable Test Period:
[        ]:1.00. 

  

	D.	First Lien Net Leverage Ratio for the applicable Test Period ending on the Computation Date4 

 

	 	(i)	        :1.00; maximum First Lien Net Leverage Ratio permitted under Section 6.09 of the Credit Agreement for the applicable Test
Period:[        ]:1.00. 

  

	4 	Attached hereto in reasonable detail are the relevant components (and the calculations thereof) of the First Lien Net Leverage Ratio. 

  
 G-5 

 ANNEX 3 

The information described herein is as of the Computation Date and, except as otherwise indicated below, pertains to the period from [the
Closing Date][January 1, 20    ] to the Computation Date (the “Relevant Period”). 
 Mandatory Prepayments 

1.    [During the Test Period ended on the Computation Date, neither the Borrower nor any of its Restricted Subsidiaries
has received any Net Cash Proceeds from any issuance or incurrence by the Borrower or any of its Restricted Subsidiaries of Indebtedness for borrowed money (other than Indebtedness permitted to be incurred pursuant to Section 6.04, other than
Permitted External Refinancing Indebtedness and Refinancing Term Loans) which would require a mandatory repayment pursuant to Section 2.13(b) of the Credit Agreement.]5 

2.    [During such Test Period ended on the Computation Date, neither the Borrower nor any of its Restricted Subsidiaries
has received (x) any Net Sale Proceeds from any (i) Non-Core Asset Sale, (ii) Disposition of any Bulk MSR and/or any Asset Sale or (iii) Servicing Advances related to the Disposition on or
prior to the MSR Outside Date of Government Sponsored Entity-related Bulk MSR or (y) gross proceeds from any Disposition on or prior to the MSR Outside Date of Government Sponsored Entity-related Bulk MSR, in each case, which would require a
mandatory repayment pursuant to Section 2.13(c) of the Credit Agreement.] 6 

 

	5 	If the Borrower or any of its Restricted Subsidiaries has received such cash proceeds, the certificate should describe the same and state amounts and dates of the receipt thereof, as well as the amounts and dates of the
required mandatory repayments pursuant to Section 2.13(b), together with sufficient information as to mandatory repayments to determine compliance with Section 2.13(b) and a statement that the Borrower is in compliance with the
requirements of Section 2.13(b). 

	6 	If the Borrower or any of its Restricted Subsidiaries has received such cash proceeds from any Non-Core Asset Sales or Disposition as described in this provision, the certificate
should describe the same and state amounts and dates of the receipt thereof, as well as amounts and dates of the required mandatory repayments pursuant to Section 2.13(c), together with sufficient information as to mandatory repayments and/or
reinvestments thereof to determine compliance with Section 2.13(c) of the Credit Agreement and a statement that the Borrower is in compliance with the requirements of said Section 2.13(c). 

  
 G-6 

 3.    [During such Test Period ended on the Computation Date, neither the
Borrower nor any of its Restricted Subsidiaries has received any Net Cash Proceeds from any Recovery Event which would require a mandatory repayment pursuant to Section 2.13(e) of the Credit Agreement.] 7 
  

	7 	If the Borrower or any of its Subsidiaries has received such cash proceeds from any Recovery Event, the certificate should describe the same and state amounts and dates of the receipt thereof, as well as amounts and
dates of the required mandatory repayments pursuant to Section 2.13(e), together with sufficient information as to mandatory repayments and/or reinvestments thereof to determine compliance with Section 2.13(e) of the Credit Agreement and a
statement that the Borrower is in compliance with the requirements of said Section 2.13(e). 

  
 G-7 

 ANNEX 4 

[Immaterial Subsidiaries and Unrestricted Subsidiaries] 

  
 G-8 

 ANNEX 5 

[Information evidencing the amount of Excess Cash Flow] 

  
 G-9 

 ANNEX [6][7] 

[Information regarding changes to Schedules to the Security Agreement and/or Annexes to Pledge Agreement] 

  
 G-10 

 EXHIBIT H 

FORM OF ASSIGNMENT AND ACCEPTANCE 

This Assignment and Acceptance (the “Assignment and Acceptance”) is dated as of the Effective Date set forth below and is
entered into by and between [the][each]8 Assignor identified in item 1 below ([the][each, an] “Assignor”) and [the][each]9
Assignee identified in item 2 below ([the][each, an] “Assignee”). [It is understood and agreed that the rights and obligations of [the Assignors][the Assignees]10 hereunder are
several and not joint.]11 Capitalized terms used but not defined herein shall have the meanings given to them in the Second Amended and Restated Credit Agreement identified below (as amended,
restated, amended and restated, supplemented and/or otherwise modified from time to time, the “Credit Agreement”), receipt of a copy of which is hereby acknowledged by [the][each] 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 Acceptance as if set forth herein in full. 

For an agreed consideration, [the][each] Assignor hereby irrevocably sells and assigns to [the Assignee][the respective Assignees], and
[the][each] Assignee hereby irrevocably purchases and assumes from [the Assignor][the respective Assignors], 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][the respective Assignors’] rights and obligations in [its capacity as a Lender][their respective capacities as Lenders] 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][the respective Assignors] under the respective
facilities identified below (including without limitation any letters of credit, and guarantees 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)][the respective Assignors (in their respective capacities as Lenders)] 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, but not limited to, 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 by [the][any] Assignor to [the][any] Assignee pursuant to clauses
(i) and (ii) above being referred to herein collectively as [the][an] “Assigned Interest”). Each such sale and assignment is without recourse to [the][any] Assignor and, except as expressly provided in this Assignment and
Acceptance, without representation or warranty by [the][any] Assignor. 
  

							
	1.	  	Assignor[s]:	  	  
	  	
				
		  		  	  
	  	
		  	[Assignor [is] [is not] a Defaulting Lender]	  	
				
	2.	  	Assignee[s]:	  	  
	  	
				
		  		  	  
	  	
		  	[for each Assignee, indicate [Affiliate][Related Fund] of [identify Lender]	  	

  

	8 	For bracketed language here and elsewhere in this form relating to the Assignor(s), if the assignment is from a single Assignor, choose the first bracketed language. If the assignment is from multiple Assignors, choose
the second bracketed language. 

	9 	For bracketed language here and elsewhere in this form relating to the Assignee(s), if the assignment is to a single Assignee, choose the first bracketed language. If the assignment is to multiple Assignees, choose the
second bracketed language. 

	10 	Select as appropriate. 

	11 	Include bracketed language if there are either multiple Assignors or multiple Assignees. 

  
 H-1 

					
	 3.
	  	 Borrower:
	  	Ditech Holding Corporation (formerly known as Walter Investment Management Corp.), a Maryland corporation
			
	 4.
	  	 Administrative Agent:
	  	 Credit Suisse AG, Cayman Island Branch, as the administrative agent under the Credit
Agreement

			
	 5.
	  	Credit Agreement:	  	The Second Amended and Restated Credit Agreement dated as of February 9, 2018 among Ditech Holding Corporation (formerly known as Walter Investment Management Corp.), as Borrower, the Lenders party thereto, Credit Suisse AG,
Cayman Islands Branch, as Administrative Agent and Collateral Agent, and the other agents party thereto
			
	 6.
	  	Assigned Interest[s]:	  	

  

													
	Assignor[s]12	  	Assignee[s]13	  	 Facility

Assigned14
	  	 Aggregate

Amount of
Commitment/
 Loans for
all
Lenders15
	  	 Amount of
Commitments/
Loans

Assigned8
	  	Percentage
Assigned of
Commitments/
Loans16	  	 CUSIP

Number

		  		  		  	$                    	  	$                    	  	%	  	
		  		  		  	$                    	  	$                    	  	%	  	
		  		  		  	$                    	  	$                    	  	%	  	

  

					
	[7.	  	Trade Date:	  	                    ]17

  

	12 	List each Assignor, as appropriate. 

	13 	List each Assignee, as appropriate. 

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

	15 	Amount to be adjusted by the counterparties to take into account any payments or prepayments made between the Trade Date and the Effective Date. 

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

	17 	To be completed if the Assignor(s) and the Assignee(s) intend that the minimum assignment amount is to be determined as of the Trade Date. 

  
 H-2 

 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 Acceptance are hereby agreed to: 

 

			
	 ASSIGNOR[S] 18

[NAME OF ASSIGNOR]

 
			
		
	By:	 	  

	Name:	 	
	Title:	 	

 
			
	
	[NAME OF ASSIGNOR]

 
			
		
	By:	 	  

	Name:	 	
	Title:	 	

 
			
	
	ASSIGNEE[S]19
[NAME OF ASSIGNEE]

 
			
		
	By:	 	  

	Name:	 	
	Title:	 	

 
			
	
	[NAME OF ASSIGNEE]

 
			
		
	By:	 	  

	Name:	 	
	Title:	 	

  

	18 	Add additional signature blocks as needed. Include both Fund/Pension Plan and manager making the trade (if applicable). 

	19 	Add additional signature blocks as needed. Include both Fund/Pension Plan and manager making the trade (if applicable). 

  
 H-3 

 Consented to and Accepted: 
  

					
	  CREDIT SUISSE AG, CAYMAN ISLANDS   BRANCH, as Administrative Agent

					
			
		 	By:	 	  

		 	Name:	 	
		 	Title:	 	
			
		 	By:	 	  

		 	Name:	 	
		 	Title:	 	

					
	
	[Consented to:20
		
		 	[    ], as Issuing Bank

					
			
		 	By:	 	  

		 	Name:	 	
		 	Title:	 	
			
		 	By:	 	  

		 	Name:	 	
		 	Title:	 	
	]

					
	
	[Consented to:21
		
		 	DITECH HOLDING CORPORATION

					
			
		 	By:	 	  

		 	Name:	 	
		 	Title:	 	
	]	 		 	

  

	20 	To be added only if the consent of the Issuing Banks is required by the terms of the Credit Agreement.  

	21 	To be added only if the consent of the Borrower is required by the terms of the Credit Agreement.  

  
 H-4 

 ANNEX 1 

STANDARD TERMS AND CONDITIONS FOR 

ASSIGNMENT AND ACCEPTANCE 
 1.
Representations and Warranties. 
 1.1 Assignor[s]. [The][Each] Assignor (a) represents and warrants that (i) it is
the legal and beneficial owner of [the][the relevant] Assigned Interest, (ii) [the][such] Assigned Interest is free and clear of any lien, encumbrance or other adverse claim, (iii) it has full power and authority, and has taken all action
necessary, to execute and deliver this Assignment and Acceptance and to consummate the transactions contemplated hereby and (iv) it is [not] a Defaulting Lender; 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 Credit Document, (ii) the execution, legality, validity, enforceability, genuineness, sufficiency or value of the Credit Documents or any collateral
thereunder, (iii) the financial condition of the Borrower, any of its Subsidiaries or Affiliates or any other Person obligated in respect of any Credit Document, or (iv) the performance or observance by the Borrower, any of its
Subsidiaries or Affiliates or any other Person of any of their respective obligations under any Credit Document. 
 1.2.
Assignee[s]. [The][Each] 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 Acceptance and to consummate the transactions
contemplated hereby and to become a Lender under the Credit Agreement, (ii) it meets all the requirements to be an assignee under Sections 9.04(b) and (c) of the Credit Agreement (subject to such consents, if any, as may be required under
Sections 9.04(b) and (c) of the Credit Agreement), (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][the relevant] Assigned Interest, shall
have the obligations of a Lender thereunder, (iv) it is sophisticated with respect to decisions to acquire assets of the type represented by the Assigned Interest and either it, or the Person exercising discretion in making its decision to
acquire the Assigned Interest, is experienced in acquiring assets of such type, (v) it has received a copy of the Credit Agreement, and has received or has been accorded the opportunity to receive copies of the most recent financial statements
referred to in Section 3.05 thereof or delivered pursuant to Section 5.01 thereof, as applicable, and such other documents and information as it deems appropriate to make its own credit analysis and decision to enter into this Assignment
and Acceptance and to purchase [the][such] Assigned Interest, (vi) it has, independently and without reliance upon the Administrative Agent, any other Agent or any other Lender and based on such documents and information as it has deemed
appropriate, made its own credit analysis and decision to enter into this Assignment and Acceptance and to purchase [the][such] Assigned Interest, and (vii) if it is a Foreign Lender, attached to the Assignment and Acceptance is any
documentation required to be delivered by it pursuant to the terms of the Credit Agreement, duly completed and executed by [the][such] Assignee; and (b) agrees that (i) it will, independently and without reliance on the Administrative
Agent, any other Agent, [the][any] 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 Credit
Documents, and (ii) it will perform in accordance with their terms all of the obligations which by the terms of the Credit 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][each] Assigned
Interest (including payments of principal, interest, fees and other amounts) to [the][the relevant] Assignor for amounts which have accrued to but excluding the Effective Date and to [the][the relevant] Assignee for amounts which have accrued from
and after the Effective Date. Notwithstanding the foregoing, the Administrative Agent shall make all payments of interest, fees or other amounts paid or payable in kind from and after the Effective Date to [the][the relevant] Assignee. 

  
 H-5 

 3. Effect of Assignment. Upon the delivery of a fully executed original hereof to the
Administrative Agent, as of the Effective Date, (i) [the][each] Assignee shall be a party to the Credit Agreement and, to the extent provided in this Assignment, have the rights and obligations of a Lender thereunder and under the other Credit
Documents and (ii) [the][each] Assignor shall, to the extent provided in this Assignment, relinquish its rights and be released from its obligations under the Credit Agreement and the other Credit Documents. 

4. General Provisions. This Assignment and Acceptance shall be binding upon, and inure to the benefit of, the parties hereto and their
respective successors and assigns. This Assignment and Acceptance 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
Acceptance by telecopy shall be effective as delivery of a manually executed counterpart of this Assignment and Acceptance. This Assignment and Acceptance shall be governed by, and construed in accordance with, the law of the State of New York. 

  
 H-6 

 EXHIBIT I 

FORM OF INTERCOMPANY NOTE 
 [This
Note, and the obligations of [            ], a [            ] [corporation] [limited liability company] (the
“Payor”), hereunder, shall be subordinate and junior in right of payment to all Senior Indebtedness (as defined in Section 7 of the Intercompany Subordination Agreement by and among Ditech Holding Corporation (formerly known as
Walter Investment Management Corp.), a Maryland corporation (the “Borrower”), Credit Suisse AG, Cayman Islands Branch as collateral agent and each subsidiary of the Borrower from time to time party thereto (as amended, modified,
restated and/or supplemented from time to time, the “Intercompany Subordination Agreement”) on the terms and conditions set forth in the Intercompany Subordination Agreement.]22

 New York, New York 

            
    ,         
 FOR VALUE RECEIVED, the Payor hereby promises to pay [on
demand] [on [DATE]] to the order of                     , or its assigns (the “Payee”), in lawful money of the United States of
America in immediately available funds, at such location in the United States of America as the Payee shall from time to time designate, the unpaid principal amount of all loans and advances made by the Payee to the Payor. 

The Payor also promises to pay interest on the unpaid principal amount hereof in like money at said location from the date hereof until paid
at such rate per annum as shall be agreed upon from time to time by the Payor and the Payee. 
 Upon the earlier to occur of (x) the
commencement of any bankruptcy, reorganization, receivership, arrangement, adjustment of debt, relief of debtors, dissolution, insolvency or liquidation or similar proceeding of any jurisdiction relating to the Payor or (y) any exercise of
remedies (including the termination of the Commitments (as defined in the Credit Agreement)) pursuant to Article 7 of the Credit Agreement referred to below, the unpaid principal amount hereof and any applicable accrued but unpaid interest thereon
shall become immediately due and payable without presentment, demand, protest or notice of any kind in connection with this Note. 
 This
Note is one of the Intercompany Notes referred to in the Second Amended and Restated Credit Agreement, dated as of February 9, 2018 among the Borrower, the lenders from time to time party thereto (the “Lenders”), and Credit
Suisse AG, Cayman Islands Branch, as Administrative Agent and Collateral Agent (as amended, restated, modified and/or supplemented from time to time, the “Credit Agreement”) and is subject to the terms thereof[, and shall be pledged
by the Payee pursuant to the Pledge Agreement (as defined in the Credit Agreement). The Payor hereby acknowledges and agrees that the Pledgee (as defined in the Pledge Agreement) may, pursuant to the Pledge Agreement as in effect from time to time,
exercise all rights provided therein with respect to this Note].23 
  

 
  

	22 	EACH PROMISSORY NOTE EVIDENCING AN INTERCOMPANY LOAN INCURRED BY ANY CREDIT PARTY OWING TO ANY SUBSIDIARY OF THE BORROWER THAT IS NOT A CREDIT PARTY THAT IS PERMITTED BY THE CREDIT AGREEMENT SHALL HAVE INCLUDED ON ITS
FACE THIS BRACKETED LEGEND. 

	23 	INSERT IN EACH INTERCOMPANY NOTE UNDER WHICH THE PAYEE IS A CREDIT PARTY (AS DEFINED IN THE CREDIT AGREEMENT). 

  
 I-1 

 The Payee is hereby authorized (but shall not be required) to record all loans and advances made
by it to the Payor (all of which shall be evidenced by this Note), and all repayments or prepayments thereof, in its books and records, such books and records constituting prima facie evidence of the accuracy of the information contained
therein. 
 All payments under this Note shall be made without offset, counterclaim or deduction of any kind. 

The Payor hereby waives presentment, demand, protest or notice of any kind in connection with this Note. 

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

*            *           
  * 

  
 I-2 

 
			
	[NAME OF PAYOR]

 
			
		
	By:	 	  

	Name:	 	
	Title:	 	

 
			
	
	Pay to the order of
	
	[NAME OF PAYEE]

 
			
		
	By:	 	  

	Name:	 	
	Title:	 	

  
 I-3 

 EXHIBIT J 
  

 
 FORM OF ADMINISTRATIVE QUESTIONNAIRE 

DITECH HOLDING CORPORATION INVESTMENT MANAGEMENT 
  

			
	Agent Information	  	Agent Closing Contact
	Credit Suisse AG, Cayman Islands Branch	  	Fay Rollins
	Eleven Madison Avenue	  	Tel: (212) 325-9041
	New York, NY 10010	  	Fax: (212) 743-1422
		  	E-Mail: Fay.Rollins@credit-suisse.com

 Agent Wire Instructions 

Bank of New York 
 ABA 021000018 

Account Name: CS Agency Cayman Account 
 Account Number:
8900492627 
  

It is very important that all of the requested information be completed accurately and that this questionnaire
be returned promptly. If your institution is sub-allocating its allocation, please fill out an administrative questionnaire for each legal entity. 

Legal Name of Lender to appear in Documentation: 
  

 
 Signature Block
Information:                                       
                                         
                                         
                                         
     
  

											
	 •  Signing Credit Agreement
	 	 	  	Yes	  		 	 	  	No
						
		 		  		  		 		  	
	 •  Coming in via Assignment
	 	 	  	Yes	  		 	 	  	No

 Type of
Lender:                                        
                                         
                                         
                                         
                          

(Bank, Asset Manager, Broker/Dealer, CLO/CDO; Finance Company, Hedge Fund, Insurance, Mutual Fund, Pension Fund, Other Regulated Investment
Fund, Special Purpose 
 Lender
Parent:                                        
                                         
                                         
                                         
                              

 

					
	 Lender Domestic
Address
	 	 	  	 Lender Eurodollar
Address

	  
	 		  	  

			
	  
	 		  	  

			
	  
	 		  	  

  
 J-1 

 Contacts/Notification Methods: Borrowings, Paydowns, Interest, Fees, etc. 

 

							
		 	Primary Credit Contact	 		 	Secondary Credit Contact
				
	 Name:
	 	  
	 		 	  

				
	 Company:
	 	  
	 		 	  

				
	 Title:
	 	  
	 		 	  

				
	 Address:
	 	  
	 		 	  

				
		 	  
	 		 	  

				
	 Telephone:
	 	  
	 		 	  

				
	 Facsimile:
	 	  
	 		 	  

				
	 E-Mail Address:
	 	  
	 		 	  

				
		 	Primary Operations Contact	 		 	Secondary Operations Contact
				
	 Name:
	 	  
	 		 	  

				
	 Company:
	 	  
	 		 	  

				
	 Title:
	 	  
	 		 	  

				
	 Address:
	 	  
	 		 	  

				
		 	  
	 		 	  

				
	 Telephone:
	 	  
	 		 	  

				
	 Facsimile:
	 	  
	 		 	  

				
	 E-Mail Address:
	 	  
	 		 	  

 Lender’s Domestic Wire Instructions 
  

			
	 Bank Name:
	 	  

		
	 ABA/Routing No.:
	 	  

		
	 Account Name:
	 	  

		
	 Account No.:
	 	  

		
	 FFC Account Name:
	 	  

		
	 FFC Account No.:
	 	  

		
	 Attention:
	 	  

		
	 Reference:
	 	  

  
 J-2 

 Tax Documents 

Pursuant to Section 2.20 of the Credit Agreement, the applicable tax forms and other required documentation for your institution must be completed and
returned prior to the first payment to you under any of the Credit Documents. Failure to provide the proper tax form or other required documentation when requested may subject your institution to tax withholding. 

  
 J-3 

 EXHIBIT K 

FORM OF SOLVENCY CERTIFICATE 
 OF

 DITECH HOLDING CORPORATION 

AND ITS SUBSIDIARIES 
 Pursuant to
the Second Amended and Restated Credit Agreement dated as of February 9, 2018 (as amended, restated, modified and/or supplemented from time to time, the “Credit Agreement”) among Ditech Holding Corporation (formerly known as
Walter Investment Management Corp.), as borrower (the “Borrower”), the lenders party thereto, and Credit Suisse AG, Cayman Islands Branch, as administrative agent and collateral agent (the “Administrative
Agent”), the undersigned hereby certifies, solely in such undersigned’s capacity as executive vice president and chief financial officer of the Borrower, and not individually, as follows: 

 

	 	1.	I have made such investigation and inquiries as to the financial condition of the Borrower and its subsidiaries as I have deemed necessary and prudent for the purposes of providing this Solvency Certificate including
consultation with the Borrower’s financial advisors used for the restructuring. I acknowledge that the Administrative Agent and the Lenders are relying on the truth and accuracy of this Solvency Certificate in connection with the making of
Loans under the Credit Agreement. The financial information, projections and assumptions which underlie and form the basis for the representations made in this Solvency Certificate were made in good faith and were based on assumptions reasonably
believed by the Borrower to be fair in light of the circumstances existing at the time made and continue to be fair as of the date hereof and further assumes the business strategy and operating plans that support the Disclosure Statement (as defined
in the Plan of Reorganization) remain in place. 

  

	 	2.	As of the date hereof, after giving effect to the consummation of the Transactions, including the making of the Loans under the Credit Agreement on the date hereof, after giving effect to the application of the proceeds
of such Loans, and after consideration of preliminary valuations of corporate debt and equity, and resulting intangibles that were provided to the Borrower by its financial advisors: 

a.    the sum of the fair value of the assets, at a fair valuation on a going concern basis, of the Borrower and its
Subsidiaries (taken as a whole) will exceed the sum of their debts; 
 b.    the Borrower and its Subsidiaries (taken as
a whole) as of the date hereof do not have debts outstanding, and do not intend to incur further debts, beyond their ability to pay such debts as such debts mature in the ordinary course of business; and 

c.    the capital of the Borrower and its Subsidiaries (taken as a whole) is not unreasonably small in relation to the
business of the Borrower or its Subsidiaries (taken as a whole) contemplated as of the date hereof. 
 Capitalized terms used but not
otherwise defined herein shall have the meanings assigned to them in the Credit Agreement. 

 IN WITNESS WHEREOF, the undersigned has executed this Solvency Certificate in such
undersigned’s capacity as executive vice president and chief financial officer of the Borrower, on behalf of the Borrower, and not individually, as of the date first stated above. 

 

			
	DITECH HOLDING CORPORATION
		
	By:	 	  

	Name:	 	Gary L. Tillett
	Title:	 	Executive Vice President and Chief Financial Officer

  
 K-1 

 EXHIBIT L 

PROCEDURES FOR DUTCH AUCTION 

This outline is intended to summarize certain basic terms and procedures with respect to Auctions pursuant to and in accordance with the
terms and conditions of Section 9.04(l) of the Second Amended and Restated Credit Agreement, of which this Exhibit L is a part (the “Credit Agreement”). It is not intended to be a definitive list of all of the
terms and conditions of an Auction and all such terms and conditions shall be set forth in the applicable Auction Procedures set for each Auction (the “Offer Documents”). None of the Administrative Agent, the auction
manager24, any other Agent or any of their respective affiliates makes any recommendation pursuant to the Offer Documents as to whether or not any Lender should sell by assignment any of its Term
Loans pursuant to the Offer Documents (including, for the avoidance of doubt, by participating in the Auction as a Lender) or whether the Borrower should purchase by assignment any Term Loans from any Lender pursuant to any Auction. Each Lender
should make its own decision as to whether to sell by assignment any of its Term Loans and, if so, the principal amount of and price to be sought for such Term Loans. In addition, each Lender should consult its own attorney, business advisor or tax
advisor as to legal, business, tax and related matters concerning any Auction and the Offer Documents. Capitalized terms not otherwise defined in this Exhibit have the meanings assigned to them in the Credit Agreement. 

Summary. The Borrower may purchase (by assignment) Term Loans on a non-pro rata basis by
conducting one or more auctions (each, an “Auction”) pursuant to the procedures described herein; provided, that no more than one Auction may be ongoing at any one time and no more than four Auctions may be made in any period
of four consecutive fiscal quarters of the Borrower. 
 Notice Procedures. In connection with each Auction, the Borrower (in
such capacity, the “Offeror”) will provide notification to the auction manager (for distribution to the Lenders) of the Term Loans that will be the subject of the Auction by delivering to the auction manager a written notice in form
and substance reasonably satisfactory to the auction manager (an “Auction Notice”). Each Auction Notice shall contain (i) the maximum principal amount of Term Loans the Offeror is willing to purchase (by assignment) in the
Auction (the “Auction Amount”), which shall be no less than $10,000,000 or an integral multiple of $1,000,000 in excess of thereof; (ii) the range of discounts to par (the “Discount Range”), expressed as a
range of prices per $1,000, at which the Offeror would be willing to purchase Term Loans in the Auction; and (iii) the date on which the Auction will conclude, on which date Return Bids (defined below) will be due at the time provided in the
Auction Notice (such time, the “Expiration Time”), as such date and time may be extended upon notice by the Offeror to the auction manager not less than 24 hours before the original Expiration Time. 

Reply Procedures. In connection with any Auction, each Lender holding Term Loans wishing to participate in such Auction shall,
prior to the Expiration Time, provide the auction manager with a notice of participation in form and substance reasonably satisfactory to the auction manager (the “Return Bid”, to be included in the Offer Documents) which shall
specify (i) a discount to par that must be expressed as a price per $1,000 of Term Loans (the “Reply Price”) within the Discount Range and (ii) the principal amount of Term Loans, in an amount not less than $1,000,000,
that such Lender is willing to offer for sale at its Reply Price (the “Reply Amount”); provided, that each Lender may submit a Reply Amount that is less than the minimum amount and incremental amount requirements described
above only if the Reply Amount comprises the entire amount of the Term Loans held by such Lender at such time. A Lender may only submit one Return Bid per Auction, but each Return Bid may contain up to three component bids, 

 
  

	24 	 To be a financial institution selected by the Borrower and reasonably acceptable to the Administrative Agent.

  
 L-1 

 
each of which may result in a separate Qualifying Bid (as defined below) and each of which will not be contingent on any other component bid submitted by such Lender resulting in a Qualifying
Bid. In addition to the Return Bid, a participating Lender must execute and deliver, to be held by the auction manager, an Assignment and Acceptance in the form included in the Offer Documents which shall be in form and substance reasonably
satisfactory to the auction manager and the Administrative Agent (the “Auction Assignment and Acceptance”). The Offeror will not purchase any Term Loans at a price that is outside of the applicable Discount Range, nor will any
Return Bids (including any component bids specified therein) submitted at a price that is outside such applicable Discount Range be considered in any calculation of the Applicable Threshold Price (as defined below). 

Acceptance Procedures. Based on the Reply Prices and Reply Amounts received by the auction manager, the auction manager, in
consultation with the Offeror, will calculate the lowest purchase price (the “Applicable Threshold Price”) for the Auction within the Discount Range for the Auction that will allow the Offeror to complete the Auction by purchasing
the full Auction Amount (or such lesser amount of Term Loans for which the Offeror has received Qualifying Bids). The Offeror shall purchase (by assignment) Term Loans from each Lender whose Return Bid is within the Discount Range and contains a
Reply Price that is equal to or less than the Applicable Threshold Price (each, a “Qualifying Bid”). All principal amount of Term Loans included in Qualifying Bids received at a Reply Price lower than the Applicable Threshold Price
will be purchased at a purchase price equal to the applicable Reply Price and shall not be subject to proration. If a Lender has submitted a Return Bid containing multiple component bids at different Reply Prices, then all Term Loans of such Lender
offered in any such component bid that constitutes a Qualifying Bid with a Reply Price lower than the Applicable Threshold Price shall also be purchased at a purchase price in cash equal to the applicable Reply Price and shall not be subject to
proration. 
 Proration Procedures. All Term Loans offered in Return Bids (or, if applicable, any component bid thereof)
constituting Qualifying Bids equal to the Applicable Threshold Price will be purchased at a purchase price equal to the Applicable Threshold Price; provided that if the aggregate principal amount of all Term Loans for which Qualifying Bids
have been submitted in any given Auction equal to the Applicable Threshold Price would exceed the remaining portion of the Auction Amount (after deducting all Term Loans purchased below the Applicable Threshold Price), the Offeror shall purchase the
Term Loans for which the Qualifying Bids submitted were at the Applicable Threshold Price ratably based on the respective principal amounts offered and in an aggregate amount up to the amount necessary to complete the purchase of the Auction Amount.
For the avoidance of doubt, no Return Bids (or any component thereof) will be accepted above the Applicable Threshold Price. 

Notification Procedures. The auction manager will calculate the Applicable Threshold Price no later than the Business Day
immediately after the date that the Return Bids were due. The auction manager will insert the amount of Term Loans to be assigned and the applicable settlement date determined by the auction manager in consultation with the Offeror onto each
applicable Auction Assignment and Acceptance received in connection with a Qualifying Bid. Upon written request of the submitting Lender, the auction manager will promptly return any Auction Assignment and Acceptance received in connection with a
Return Bid that is not a Qualifying Bid. 
 Additional Procedures. Once initiated by an Auction Notice, the Offeror may
withdraw an Auction by written notice to the auction manager no later than 24 hours before the original Expiration Time so long as no Qualifying Bids have been received by the auction manager at or prior to the time the auction manager receives such
written notice from the Borrower. Any Return Bid (including any component bid thereof) delivered to the auction manager may not be modified, revoked, terminated or cancelled; provided that a Lender may modify a Return Bid at any time prior to
the Expiration Time solely to reduce the Reply Price included in such Return Bid. However, an Auction shall become void if the Offeror fails to satisfy 

  
 L-2 

 
one or more of the conditions to the purchase of Term Loans set forth in Section 9.04(l) of the Credit Agreement or to otherwise comply with any of the provisions of such
Section 9.04(l). The purchase price for all Term Loans purchased in an Auction shall be paid in cash by the Offeror directly to the respective assigning Lender on a settlement date as determined by the auction manager in consultation with the
Offeror (which shall be no later than ten (10) Business Days after the date Return Bids are due), along with accrued and unpaid interest (if any) on the applicable Term Loans up to the settlement date. The Offeror shall execute each applicable
Auction Assignment and Acceptance received in connection with a Qualifying Bid. 
 All questions as to the form of documents and validity
and eligibility of Term Loans that are the subject of an Auction will be determined by the auction manager, in consultation with the Offeror, and, absent manifest error, the auction manager’s determination will be final and binding. Absent
manifest error, the auction manager’s interpretation of the terms and conditions of the Offer Document, in consultation with the Offeror, will be final and binding. 

None of the Administrative Agent, the auction manager, any other Agent or any of their respective affiliates assumes any responsibility for
the accuracy or completeness of the information concerning the Borrower, the Credit Parties, or any of their affiliates contained in the Offer Documents or otherwise or for any failure to disclose events that may have occurred and may affect the
significance or accuracy of such information. 
 Immediately upon the consummation of an Auction pursuant to Section 9.04(l) of the
Credit Agreement, the Term Loans subject to such Auction and all rights and obligations as a Lender related to such Term Loans shall for all purposes (including under the Credit Agreement, the other Credit Documents and otherwise) be deemed to be
irrevocably prepaid, terminated, extinguished, cancelled and of no further force and effect, and the Borrower shall neither obtain nor have any rights as a Lender under the Credit Agreement or under the other Credit Documents by virtue of the
acquisition of any Term Loans subject to such Auction. 
 The auction manager acting in its capacity as such under an Auction shall be
entitled to the benefits of the provisions of Article 8 and Section 9.05 of the Credit Agreement to the same extent as if each reference therein to the “Administrative Agent” were a reference to the auction manager, and the
Administrative Agent shall cooperate with the auction manager as reasonably requested by the auction manager in order to enable it to perform its responsibilities and duties in connection with each Auction. 

This Exhibit L shall not require the Borrower to initiate any Auction, nor shall any Lender be obligated to participate in any Auction. 

  
 L-3Exhibit 4.1

 

Execution Version

 

 

TRANSMONTAIGNE PARTNERS L.P.
 AND
 TLP FINANCE CORP.

 

 

INDENTURE

 

Dated as of February 12, 2018

 

 

U.S. BANK NATIONAL ASSOCIATION

 

Trustee

 

 

 

TABLE OF CONTENTS

 

	
 
    	
 
    	
Page
    
	
ARTICLE I.   - DEFINITIONS AND INCORPORATION BY REFERENCE
    	
1
    
	
Section 1.1.
    	
Definitions
    	
1
    
	
Section 1.2.
    	
Other Definitions
    	
5
    
	
Section 1.3.
    	
Incorporation by   Reference of Trust Indenture Act
    	
5
    
	
Section 1.4.
    	
Rules of   Construction
    	
6
    
	
 
    	
 
    	
 
    
	
ARTICLE II.   THE SECURITIES
    	
6
    
	
Section 2.1.
    	
Issuable in Series
    	
6
    
	
Section 2.2.
    	
Establishment of Terms   of Series of Securities
    	
7
    
	
Section 2.3.
    	
Execution and   Authentication
    	
9
    
	
Section 2.4.
    	
Registrar and Paying   Agent
    	
10
    
	
Section 2.5.
    	
Paying Agent to Hold   Money in Trust
    	
11
    
	
Section 2.6.
    	
Securityholder Lists
    	
11
    
	
Section 2.7.
    	
Transfer and Exchange
    	
11
    
	
Section 2.8.
    	
Mutilated, Destroyed,   Lost and Stolen Securities
    	
12
    
	
Section 2.9.
    	
Outstanding Securities
    	
12
    
	
Section 2.10.
    	
Treasury Securities
    	
13
    
	
Section 2.11.
    	
Temporary Securities
    	
13
    
	
Section 2.12.
    	
Cancellation
    	
13
    
	
Section 2.13.
    	
Defaulted Interest
    	
14
    
	
Section 2.14.
    	
Global Securities
    	
14
    
	
Section 2.15.
    	
CUSIP Numbers
    	
15
    
	
 
    	
 
    	
 
    
	
ARTICLE III.   REDEMPTION
    	
16
    
	
Section 3.1.
    	
Notice to Trustee
    	
16
    
	
Section 3.2.
    	
Selection of Securities   to be Redeemed
    	
16
    
	
Section 3.3.
    	
Notice of Redemption
    	
16
    
	
Section 3.4.
    	
Effect of Notice of   Redemption
    	
17
    
	
Section 3.5.
    	
Deposit of Redemption   Price
    	
17
    
	
Section 3.6.
    	
Securities Redeemed in   Part
    	
17
    
	
 
    	
 
    	
 
    
	
ARTICLE IV.   COVENANTS
    	
18
    
	
Section 4.1.
    	
Payment of Principal   and Interest.
    	
18
    
	
Section 4.2.
    	
SEC Reports
    	
18
    
	
Section 4.3.
    	
Compliance Certificate
    	
18
    
	
Section 4.4.
    	
Stay, Extension and   Usury Laws
    	
18
    
	
ARTICLE V.   SUCCESSORS
    	
19
    
	
Section 5.1.
    	
When Issuers May Merge,   Etc.
    	
19
    
	
Section 5.2.
    	
Successor Corporation   Substituted
    	
19
    
	
 
    	
 
    	
 
    
	
ARTICLE VI.   DEFAULTS AND REMEDIES
    	
20
    
	
Section 6.1.
    	
Events of Default
    	
20
    
				

 

i

 

	
Section 6.2.
    	
Acceleration of Maturity;   Rescission and Annulment
    	
21
    
	
Section 6.3.
    	
Collection of   Indebtedness and Suits for Enforcement by Trustee
    	
22
    
	
Section 6.4.
    	
Trustee May File   Proofs of Claim
    	
22
    
	
Section 6.5.
    	
Trustee   May Enforce Claims Without Possession of Securities
    	
23
    
	
Section 6.6.
    	
Application of Money   Collected
    	
23
    
	
Section 6.7.
    	
Limitation on Suits
    	
24
    
	
Section 6.8.
    	
Unconditional Right of   Holders to Receive Principal and Interest
    	
24
    
	
Section 6.9.
    	
Restoration of Rights   and Remedies
    	
24
    
	
Section 6.10.
    	
Rights and Remedies Cumulative
    	
25
    
	
Section 6.11.
    	
Delay or Omission Not   Waiver
    	
25
    
	
Section 6.12.
    	
Control by Holders
    	
25
    
	
Section 6.13.
    	
Waiver of Past Defaults
    	
26
    
	
Section 6.14.
    	
Undertaking for Costs
    	
26
    
	
 
    	
 
    	
 
    
	
ARTICLE VII.   TRUSTEE
    	
26
    
	
Section 7.1.
    	
Duties of Trustee
    	
26
    
	
Section 7.2.
    	
Rights of Trustee
    	
28
    
	
Section 7.3.
    	
Individual Rights of   Trustee
    	
29
    
	
Section 7.4.
    	
Trustee’s Disclaimer
    	
29
    
	
Section 7.5.
    	
Notice of Defaults
    	
29
    
	
Section 7.6.
    	
Reports by Trustee to   Holders
    	
29
    
	
Section 7.7.
    	
Compensation and   Indemnity
    	
29
    
	
Section 7.8.
    	
Replacement of Trustee
    	
30
    
	
Section 7.9.
    	
Successor Trustee by   Merger, Etc.
    	
31
    
	
Section 7.10.
    	
Eligibility;   Disqualification
    	
31
    
	
Section 7.11.
    	
Preferential Collection   of Claims Against Company
    	
31
    
	
 
    	
 
    	
 
    
	
ARTICLE VIII.   SATISFACTION AND DISCHARGE; DEFEASANCE
    	
32
    
	
Section 8.1.
    	
Satisfaction and   Discharge of Indenture
    	
32
    
	
Section 8.2.
    	
Application of Trust   Funds; Indemnification
    	
33
    
	
Section 8.3.
    	
Legal Defeasance of   Securities of any Series
    	
33
    
	
Section 8.4.
    	
Covenant Defeasance
    	
35
    
	
Section 8.5.
    	
Repayment to the   Issuers
    	
36
    
	
Section 8.6.
    	
Reinstatement
    	
36
    
	
 
    	
 
    	
 
    
	
ARTICLE IX.   AMENDMENTS AND WAIVERS
    	
37
    
	
Section 9.1.
    	
Without Consent of   Holders
    	
37
    
	
Section 9.2.
    	
With Consent of Holders
    	
37
    
	
Section 9.3.
    	
Limitations
    	
38
    
	
Section 9.4.
    	
Compliance with Trust   Indenture Act
    	
39
    
	
Section 9.5.
    	
Revocation and Effect   of Consents
    	
39
    
	
Section 9.6.
    	
Notation on or Exchange   of Securities
    	
39
    
	
Section 9.7.
    	
Trustee Protected
    	
39
    
	
 
    	
 
    	
 
    
	
ARTICLE X.   MISCELLANEOUS
    	
40
    
	
Section 10.1.
    	
Trust Indenture Act   Controls
    	
40
    
	
Section 10.2.
    	
Notices
    	
40
    

 

ii

 

	
Section 10.3.
    	
Communication by   Holders with Other Holders
    	
41
    
	
Section 10.4.
    	
Certificate and Opinion   as to Conditions Precedent
    	
41
    
	
Section 10.5.
    	
Statements Required in   Certificate or Opinion
    	
41
    
	
Section 10.6.
    	
Rules by Trustee   and Agents
    	
42
    
	
Section 10.7.
    	
Legal Holidays
    	
42
    
	
Section 10.8.
    	
No Recourse Against   Others
    	
42
    
	
Section 10.9.
    	
Counterparts
    	
42
    
	
Section 10.10.
    	
Governing Law
    	
42
    
	
Section 10.11.
    	
No Adverse   Interpretation of Other Agreements
    	
43
    
	
Section 10.12.
    	
Successors
    	
43
    
	
Section 10.13.
    	
Severability
    	
43
    
	
Section 10.14.
    	
Table of Contents,   Headings, Etc.
    	
43
    
	
Section 10.15.
    	
Securities in a Foreign   Currency
    	
43
    
	
Section 10.16.
    	
Judgment Currency
    	
44
    
	
Section 10.17.
    	
Force Majeure
    	
44
    
	
 
    	
 
    	
 
    
	
ARTICLE XI.   SINKING FUNDS
    	
44
    
	
Section 11.1.
    	
Applicability of   Article
    	
44
    
	
Section 11.2.
    	
Satisfaction of Sinking   Fund Payments with Securities
    	
45
    
	
Section 11.3.
    	
Redemption of   Securities for Sinking Fund
    	
45
    

 

iii

 

TRANSMONTAIGNE PARTNERS L.P.
 AND
 TLP FINANCE CORP.

 

Reconciliation and tie between Trust Indenture Act of 1939 and
 Indenture, dated as of February 12, 2018

 

	
§ 310(a)(1)
    	
 
    	
7.10
    
	
(a)(2)
    	
 
    	
7.10
    
	
(a)(3)
    	
 
    	
Not Applicable
    
	
(a)(4)
    	
 
    	
Not Applicable
    
	
(a)(5)
    	
 
    	
7.10
    
	
(b)
    	
 
    	
7.10
    
	
§ 311(a)
    	
 
    	
7.11
    
	
(b)
    	
 
    	
7.11
    
	
(c)
    	
 
    	
Not Applicable
    
	
§ 312(a)
    	
 
    	
2.6
    
	
(b)
    	
 
    	
10.3
    
	
(c)
    	
 
    	
10.3
    
	
§ 313(a)
    	
 
    	
7.6
    
	
(b)(1)
    	
 
    	
7.6
    
	
(b)(2)
    	
 
    	
7.6
    
	
(c)(1)
    	
 
    	
7.6
    
	
(d)
    	
 
    	
7.6
    
	
§ 314(a)
    	
 
    	
4.2, 10.5
    
	
(b)
    	
 
    	
Not Applicable
    
	
(c)(1)
    	
 
    	
10.4
    
	
(c)(2)
    	
 
    	
10.4
    
	
(c)(3)
    	
 
    	
Not Applicable
    
	
(d)
    	
 
    	
Not Applicable
    
	
(e)
    	
 
    	
10.5
    
	
(f)
    	
 
    	
Not Applicable
    
	
§ 315(a)
    	
 
    	
7.1
    
	
(b)
    	
 
    	
7.5
    
	
(c)
    	
 
    	
7.1
    
	
(d)
    	
 
    	
7.1
    
	
(e)
    	
 
    	
6.14
    
	
§ 316(a)
    	
 
    	
2.10
    
	
(a)(1)(A)
    	
 
    	
6.12
    
	
(a)(1)(B)
    	
 
    	
6.13
    
	
(b)
    	
 
    	
6.8
    
	
§ 317(a)(1)
    	
 
    	
6.3
    
	
(a)(2)
    	
 
    	
6.4
    
	
(b)
    	
 
    	
2.5
    
	
§ 318(a)
    	
 
    	
10.1
    

 

Note:  This reconciliation and tie shall not, for any purpose, be deemed to be part of the Indenture.

 

iv

 

Indenture dated as of February 12, 2018 among TransMontaigne Partners L.P., a limited partnership formed under the laws of Delaware (the “Partnership”), TLP Finance Corp., a company incorporated under the laws of Delaware (“Finance Corp.” and together with the Partnership, the “Issuers”), and U.S. Bank National Association, a national banking association (“Trustee”).

 

Each party agrees as follows for the benefit of the other party and for the equal and ratable benefit of the Holders of the Securities issued under this Indenture.

 

ARTICLE I.-
 DEFINITIONS AND INCORPORATION BY REFERENCE

 

Section 1.1.                                 Definitions.

 

“Additional Amounts” means any additional amounts which are required hereby or by any Security, under circumstances specified herein or therein, to be paid by the Partnership in respect of certain taxes imposed on Holders specified herein or therein and which are owing to such Holders.

 

“Affiliate” of any specified person means any other person directly or indirectly controlling or controlled by or under common control with such specified person.   For the purposes of this definition, “control” (including, with correlative meanings, the terms “controlled by” and “under common control with”), as used with respect to any person, shall mean the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of such person, whether through the ownership of voting securities or by agreement or otherwise.

 

“Agent” means any Registrar, Paying Agent or Notice Agent.

 

“Board of Directors” means:

 

(1)                                 with respect to a corporation, the board of directors of the corporation or any committee thereof duly authorized to act on behalf of such board;

 

(2)                                 with respect to a partnership, the board of directors of the general partner of the partnership or any committee thereof duly authorized to act on behalf of such board;

 

(3)                                 with respect to a limited liability company, the managing member or members or any controlling committee of managing members thereof; and

 

(4)                                 with respect to any other person, the board or committee of such person serving a similar function.

 

“Board Resolution” means a copy of a resolution certified by the Secretary or an Assistant Secretary of the applicable person to have been adopted by the Board of Directors of such person or pursuant to authorization by the Board of Directors of such person and to be in full force and effect on the date of the certificate and delivered to the Trustee.

 

 

“Business Day” means, unless otherwise provided by Board Resolution, Officer’s Certificate or supplemental indenture hereto for a particular Series, any day except a Saturday, Sunday or a legal holiday in The City of New York, New York (or in connection with any payment, the place of payment) on which banking institutions are authorized or required by law, regulation or executive order to close.

 

“Capital Stock” means:

 

(1)                                 in the case of a corporation, corporate stock;

 

(2)                                 in the case of an association or business entity, any and all shares, interests, participations, rights or other equivalents (however designated) of corporate stock;

 

(3)                                 in the case of a partnership or limited liability company, partnership or membership interests (whether general or limited); and

 

(4)                                 any other interest or participation that confers on a person the right to receive a share of the profits and losses of, or distributions of assets of, the issuing person.

 

“Corporate Trust Office” means the office of the Trustee at which at any particular time its corporate trust business related to this Indenture shall be principally administered.

 

“Default” means any event which is, or after notice or passage of time or both would be, an Event of Default.

 

“Depositary” means, with respect to the Securities of any Series issuable or issued in whole or in part in the form of one or more Global Securities, the person designated as Depositary for such Series by the Partnership, which Depositary shall be a clearing agency registered under the Exchange Act; and if at any time there is more than one such person, “Depositary” as used with respect to the Securities of any Series shall mean the Depositary with respect to the Securities of such Series.

 

“Discount Security” means any Security that provides for an amount less than the stated principal amount thereof to be due and payable upon declaration of acceleration of the maturity thereof pursuant to Section 6.2.

 

“Dollars” and “$” means the currency of The United States of America.

 

“Exchange Act” means the Securities Exchange Act of 1934, as amended.

 

“Finance Corp.” means the party named as such above until a successor replaces it and thereafter means the successor.

 

“Foreign Currency” means any currency or currency unit issued by a government other than the government of The United States of America.

 

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“Foreign Government Obligations” means, with respect to Securities of any Series that are denominated in a Foreign Currency, direct obligations of, or obligations guaranteed by, the government that issued or caused to be issued such currency for the payment of which obligations its full faith and credit is pledged and which are not callable or redeemable at the option of the issuer thereof.

 

“GAAP” means accounting principles generally accepted in the United States of America set forth in the opinions and pronouncements of the Accounting Principles Board of the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or in such other statements by such other entity as have been approved by a significant segment of the accounting profession, which are in effect as of the date of determination.

 

“General Partner” means TransMontaigne GP L.L.C., a Delaware limited liability company, and its successors and permitted assigns as the general partner of the Partnership.

 

“Global Security” or “Global Securities” means a Security or Securities, as the case may be, in the form established pursuant to Section 2.2 evidencing all or part of a Series of Securities, issued to the Depositary for such Series or its nominee, and registered in the name of such Depositary or nominee.

 

“Holder” or “Securityholder” means a person in whose name a Security is registered.

 

“Indenture” means this Indenture as amended or supplemented from time to time and shall include the form and terms of particular Series of Securities established as contemplated hereunder.

 

“interest” with respect to any Discount Security which by its terms bears interest only after Maturity, means interest payable after Maturity.

 

“Issuer Order” means a written order signed in the name of each Issuer by an Officer.

 

“Issuers” means the Partnership and Finance Corp.

 

“Maturity,” when used with respect to any Security, means the date on which the principal of such Security becomes due and payable as therein or herein provided, whether at the Stated Maturity or by declaration of acceleration, call for redemption or otherwise.

 

“Officer” means, with respect to any Person, the Chief Executive Officer, President, the Chief Financial Officer, the Treasurer or any Assistant Treasurer, the Secretary or any Assistant Secretary, and any Vice President of such person or, in the case of the Partnership, its General Partner.

 

“Officer’s Certificate” means a certificate signed by any Officer.

 

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“Opinion of Counsel” means a written opinion of legal counsel who is acceptable to the Trustee.  The counsel may be an employee of or counsel to the Partnership or any Subsidiary of the Partnership.

 

“Partnership” means the party named as such above until a successor replaces it and thereafter means the successor.

 

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

 

“principal” of a Security means the principal of the Security plus, when appropriate, the premium, if any, on, and any Additional Amounts in respect of, the Security.

 

“Responsible Officer” means any officer of the Trustee in its Corporate Trust Office having responsibility for administration of this Indenture and also means, with respect to a particular corporate trust matter, any other officer to whom any corporate trust matter is referred because of his or her knowledge of and familiarity with a particular subject.

 

“SEC” means the Securities and Exchange Commission.

 

“Securities” means the debentures, notes or other debt instruments of the Issuers of any Series authenticated and delivered under this Indenture.

 

“Series” or “Series of Securities” means each series of debentures, notes or other debt instruments of the Issuers created pursuant to Sections 2.1 and 2.2 hereof.

 

“Stated Maturity” when used with respect to any Security, means the date specified in such Security as the fixed date on which the principal of such Security or interest is due and payable.

 

“Subsidiary” means, with respect to any specified person:

 

(1)                                 any corporation, association or other business entity (other than a partnership or limited liability company) of which more than 50% of the total voting power of Capital Stock is at the time owned or controlled, directly or indirectly, by that person or one or more of the other Subsidiaries of that person (or a combination thereof); and

 

(2)                                 any partnership (whether general or limited) or limited liability company (a) the sole general partner or the managing general partner or managing member of which is such person or a Subsidiary of such person, or (b) if there is more than a single general partner or member, either (x) the only general partners or managing members of which are such person or one or more Subsidiaries of such person (or any combination thereof) or (y) such person owns or controls, directly or indirectly, a majority of the outstanding general partner interests, member interests or other Capital Stock of such partnership or limited liability company, respectively.

 

“TIA” means the Trust Indenture Act of 1939 (15 U.S. Code §§ 77aaa-77bbbb) as in effect on the date of this Indenture; provided, however, that in the event the Trust Indenture 

 

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Act of 1939 is amended after such date, “TIA” means, to the extent required by any such amendment, the Trust Indenture Act as so amended.

 

“Trustee” means the person named as the “Trustee” in the first paragraph of this instrument until a successor Trustee shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Trustee” shall mean or include each person who is then a Trustee hereunder, and if at any time there is more than one such person, “Trustee” as used with respect to the Securities of any Series shall mean the Trustee with respect to Securities of that Series.

 

“U.S. Government Obligations” means securities which are direct obligations of, or guaranteed by, The United States of America for the payment of which its full faith and credit is pledged and which are not callable or redeemable at the option of the issuer thereof, and shall also include a depositary receipt issued by a bank or trust company as custodian with respect to any such U.S. Government Obligation or a specific payment of interest on or principal of any such U.S. Government Obligation held by such custodian for the account of the holder of a depository receipt, provided that (except as required by law) such custodian is not authorized to make any deduction from the amount payable to the holder of such depositary receipt from any amount received by the custodian in respect of the U.S. Government Obligation evidenced by such depositary receipt.

 

Section 1.2.                                 Other Definitions.

 

	
TERM
    	
 
    	
DEFINED IN
   SECTION
    
	
 
    	
 
    	
 
    
	
“Bankruptcy Law”
    	
 
    	
6.1
    
	
“Custodian”
    	
 
    	
6.1
    
	
“Event of Default”
    	
 
    	
6.1
    
	
“Judgment Currency”
    	
 
    	
10.16
    
	
“Legal Holiday”
    	
 
    	
10.7
    
	
“mandatory sinking fund   payment”
    	
 
    	
11.1
    
	
“New York Banking Day”
    	
 
    	
10.16
    
	
“Notice Agent”
    	
 
    	
2.4
    
	
“optional sinking fund   payment”
    	
 
    	
11.1
    
	
“Paying Agent”
    	
 
    	
2.4
    
	
“Registrar”
    	
 
    	
2.4
    
	
“Required Currency”
    	
 
    	
10.16
    
	
“successor person”
    	
 
    	
5.1
    

 

Section 1.3.                                 Incorporation by Reference of Trust Indenture Act.

 

Whenever this Indenture refers to a provision of the TIA, the provision is incorporated by reference in and made a part of this Indenture.  The following TIA terms used in this Indenture have the following meanings:

 

“Commission” means the SEC.

 

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“indenture securities” means the Securities.

 

“indenture security holder” means a Securityholder.

 

“indenture to be qualified” means this Indenture.

 

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

 

“obligor” on the indenture securities means the Issuers and any successor obligor upon the Securities.

 

All other terms used in this Indenture that are defined by the TIA, defined by TIA reference to another statute or defined by SEC rule under the TIA and not otherwise defined herein are used herein as so defined.

 

Section 1.4.                                 Rules of Construction.

 

Unless the context otherwise requires:

 

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

 

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

 

(c)                                  “or” is not exclusive;

 

(d)                                 words in the singular include the plural, and in the plural include the singular; and

 

(e)                                  provisions apply to successive events and transactions.

 

ARTICLE II.
 THE SECURITIES

 

Section 2.1.                                 Issuable in Series.

 

The aggregate principal amount of Securities that may be authenticated and delivered under this Indenture is unlimited.  The Securities may be issued in one or more Series. All Securities of a Series shall be identical except as may be set forth or determined in the manner provided in a Board Resolution of each Issuer, a supplemental indenture or an Officer’s Certificate of each Issuer detailing the adoption of the terms thereof pursuant to authority granted under a Board Resolution. In the case of Securities of a Series to be issued from time to time, such Board Resolution, Officer’s Certificate or supplemental indenture detailing the adoption of the terms thereof pursuant to authority granted under a Board Resolution may provide for the method by which specified terms (such as interest rate, maturity date, record date or date from which interest shall accrue) are to be determined.  Securities may differ between Series in respect of any matters, provided that all Series of Securities shall be equally and ratably entitled to the benefits of the Indenture.

 

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Section 2.2.                                 Establishment of Terms of Series of Securities.

 

At or prior to the issuance of any Securities within a Series, the following shall be established (as to the Series generally, in the case of Subsection 2.2.1 and either as to such Securities within the Series or as to the Series generally in the case of Subsections 2.2.2 through 2.2.24) by or pursuant to a Board Resolution of each Issuer, and set forth or determined in the manner provided in such Board Resolution, a supplemental indenture hereto or Officer’s Certificate of each Issuer:

 

2.2.1.                                          the title (which shall distinguish the Securities of that particular Series from the Securities of any other Series) and ranking (including the terms of any subordination provisions) of the Series;

 

2.2.2.                                          the price or prices (expressed as a percentage of the principal amount thereof) at which the Securities of the Series will be issued;

 

2.2.3.                                          any limit upon the aggregate principal amount of the Securities of the Series which may be authenticated and delivered under this Indenture (except for Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Securities of the Series pursuant to Section 2.7, 2.8, 2.11, 3.6 or 9.6);

 

2.2.4.                                          the date or dates on which the principal of the Securities of the Series is payable;

 

2.2.5.                                          the rate or rates (which may be fixed or variable) per annum or, if applicable, the method used to determine such rate or rates (including, but not limited to, any commodity, commodity index, stock exchange index or financial index) at which the Securities of the Series shall bear interest, if any, the date or dates from which such interest, if any, shall accrue, the date or dates on which such interest, if any, shall commence and be payable and any regular record date for the interest payable on any interest payment date;

 

2.2.6.                                          the place or places where the principal of and interest, if any, on the Securities of the Series shall be payable, where the Securities of such Series may be surrendered for registration of transfer or exchange and where notices and demands to or upon the Issuers in respect of the Securities of such Series and this Indenture may be delivered, and the method of such payment, if by wire transfer, mail or other means;

 

2.2.7.                                          if applicable, the period or periods within which, the price or prices at which and the terms and conditions upon which the Securities of the Series may be redeemed, in whole or in part, at the option of the Issuers;

 

2.2.8.                                          the obligation, if any, of the Issuers to redeem or purchase the Securities of the Series pursuant to any sinking fund or analogous provisions or at the option of a Holder thereof and the period or periods within which, the price or prices at which and the terms and conditions upon which Securities of the Series shall be redeemed or purchased, in whole or in part, pursuant to such obligation;

 

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2.2.9.                                          the dates, if any, on which and the price or prices at which the Securities of the Series will be repurchased by the Issuers at the option of the Holders thereof and other detailed terms and provisions of such repurchase obligations;

 

2.2.10.                                   if other than denominations of $1,000 and any integral multiple thereof, the denominations in which the Securities of the Series shall be issuable;

 

2.2.11.                                   the forms of the Securities of the Series and whether the Securities will be issuable as Global Securities;

 

2.2.12.                                   if other than the principal amount thereof, the portion of the principal amount of the Securities of the Series that shall be payable upon declaration of acceleration of the maturity thereof pursuant to Section 6.2;

 

2.2.13.                                   the currency of denomination of the Securities of the Series, which may be Dollars or any Foreign Currency, and if such currency of denomination is a composite currency, the agency or organization, if any, responsible for overseeing such composite currency;

 

2.2.14.                                   the designation of the currency, currencies or currency units in which payment of the principal of and interest, if any, on the Securities of the Series will be made;

 

2.2.15.                                   if payments of principal of or interest, if any, on the Securities of the Series are to be made in one or more currencies or currency units other than that or those in which such Securities are denominated, the manner in which the exchange rate with respect to such payments will be determined;

 

2.2.16.                                   the manner in which the amounts of payment of principal of or interest, if any, on the Securities of the Series will be determined, if such amounts may be determined by reference to an index based on a currency or currencies or by reference to a commodity, commodity index, stock exchange index or financial index;

 

2.2.17.                                   the provisions, if any, relating to any security provided for the Securities of the Series;

 

2.2.18.                                   any addition to, deletion of or change in the Events of Default which applies to any Securities of the Series and any change in the right of the Trustee or the requisite Holders of such Securities to declare the principal amount thereof due and payable pursuant to Section 6.2;

 

2.2.19.                                   any addition to, deletion of or change in the covenants set forth in Articles IV or V which applies to Securities of the Series;

 

2.2.20.                                   any Depositaries, interest rate calculation agents, exchange rate calculation agents or other agents with respect to Securities of such Series if other than those appointed herein;

 

2.2.21.                                   the provisions, if any, relating to conversion or exchange of any Securities of such Series, including if applicable, the conversion or exchange price, the 

 

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conversion or exchange period, provisions as to whether conversion or exchange will be mandatory, at the option of the Holders thereof or at the option of the Issuers, the events requiring an adjustment of the conversion price or exchange price and provisions affecting conversion or exchange if such Series of Securities are redeemed;

 

2.2.22.                                   any other terms of the Series (which may supplement, modify or delete any provision of this Indenture insofar as it applies to such Series), including any terms that may be required under applicable law or regulations or advisable in connection with the marketing of Securities of that Series;

 

2.2.23.                                   whether any of the Partnership’s direct or indirect Subsidiaries will guarantee the Securities of that Series, including the terms of subordination, if any, of such guarantees; and

 

2.2.24.                                   whether Finance Corp. will act as a co-issuer of the Securities of the Series.

 

All Securities of any one Series need not be issued at the same time and may be issued from time to time, consistent with the terms of this Indenture, if so provided by or pursuant to the Board Resolution, supplemental indenture hereto or Officer’s Certificate referred to above.

 

Section 2.3.                                 Execution and Authentication.

 

An Officer shall sign the Securities for each Issuer by manual or facsimile signature.

 

If an Officer whose signature is on a Security no longer holds that office at the time the Security is authenticated, the Security shall nevertheless be valid.

 

A Security shall not be valid until authenticated by the manual signature of the Trustee or an authenticating agent.  The signature shall be conclusive evidence that the Security has been authenticated under this Indenture.

 

The Trustee shall at any time, and from time to time, authenticate Securities for original issue in the principal amount provided in the Board Resolution, supplemental indenture hereto or Officer’s Certificate, upon receipt by the Trustee of an Issuer Order.  Each Security shall be dated the date of its authentication.

 

The aggregate principal amount of Securities of any Series outstanding at any time may not exceed any limit upon the maximum principal amount for such Series set forth in the Board Resolution, supplemental indenture hereto or Officer’s Certificate delivered pursuant to Section 2.2, except as provided in Section 2.8.

 

Prior to the issuance of Securities of any Series, the Trustee shall have received and (subject to Section 7.2) shall be fully protected in relying on:  (a) the Board Resolution, supplemental indenture hereto or Officer’s Certificate establishing the form of the Securities of that Series or of Securities within that Series and the terms of the Securities of that Series or of

 

9

 

Securities within that Series, (b) an Officer’s Certificate of each Issuer complying with Section 10.4, and (c) an Opinion of Counsel complying with Section 10.4.

 

The Trustee shall have the right to decline to authenticate and deliver any Securities of such Series: (a) if the Trustee, being advised by counsel, determines that such action may not be taken lawfully; or (b) if the Trustee in good faith by its board of directors or trustees, executive committee or a trust committee of directors and/or vice-presidents or a committee of Responsible Officers shall determine that such action would expose the Trustee to personal liability to Holders of any then outstanding Series of Securities.

 

The Trustee may appoint an authenticating agent acceptable to the Issuers to authenticate Securities.  An authenticating agent may authenticate Securities whenever the Trustee may do so.  Each reference in this Indenture to authentication by the Trustee includes authentication by such agent.  An authenticating agent has the same rights as an Agent to deal with the Issuers or any Affiliate of the Issuers.

 

Section 2.4.                                 Registrar and Paying Agent.

 

The Issuers shall maintain, with respect to each Series of Securities, at the place or places specified with respect to such Series pursuant to Section 2.2, an office or agency where Securities of such Series may be presented or surrendered for payment (“Paying Agent”), where Securities of such Series may be surrendered for registration of transfer or exchange (“Registrar”) and where notices and demands to or upon the Issuers in respect of the Securities of such Series and this Indenture may be delivered (“Notice Agent”).  The Registrar shall keep a register with respect to each Series of Securities and to their transfer and exchange.  The Issuers will give prompt written notice to the Trustee of the name and address, and any change in the name or address, of each Registrar, Paying Agent or Notice Agent.  If at any time the Issuers shall fail to maintain any such required Registrar, Paying Agent or Notice Agent or shall fail to furnish the Trustee with the name and address thereof, such presentations, surrenders, notices and demands may be made or served at the Corporate Trust Office of the Trustee, and the Issuers hereby appoint the Trustee as its agent to receive all such presentations, surrenders, notices and demands; provided, however, that any appointment of the Trustee as the Notice Agent shall exclude the appointment of the Trustee or any office of the Trustee as an agent to receive the service of legal process on the Issuers.

 

The Issuers may also from time to time designate one or more co-registrars, additional paying agents or additional notice agents and may from time to time rescind such designations; provided, however, that no such designation or rescission shall in any manner relieve the Issuers of their obligations to maintain a Registrar, Paying Agent and Notice Agent in each place so specified pursuant to Section 2.2 for Securities of any Series for such purposes.  The Issuers will give prompt written notice to the Trustee of any such designation or rescission and of any change in the name or address of any such co-registrar, additional paying agent or additional notice agent.  The term “Registrar” includes any co-registrar; the term “Paying Agent” includes any additional paying agent; and the term “Notice Agent” includes any additional notice agent.  The Issuers or any of their Affiliates may serve as Registrar or Paying Agent.

 

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The Issuers hereby appoint the Trustee the initial Registrar, Paying Agent and Notice Agent for each Series unless another Registrar, Paying Agent or Notice Agent, as the case may be, is appointed prior to the time Securities of that Series are first issued.

 

Section 2.5.                                 Paying Agent to Hold Money in Trust.

 

The Issuers shall require each Paying Agent other than the Trustee to agree in writing that the Paying Agent will hold in trust, for the benefit of Securityholders of any Series of Securities, or the Trustee, all money held by the Paying Agent for the payment of principal of or interest on the Series of Securities, and will notify the Trustee in writing of any default by the Issuers in making any such payment.  While any such default continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee.  The Issuers at any time may require a Paying Agent to pay all money held by it to the Trustee.  Upon payment over to the Trustee, the Paying Agent (if other than the Partnership or a Subsidiary of the Partnership) shall have no further liability for the money.  If the Partnership or a Subsidiary of the Partnership acts as Paying Agent, it shall segregate and hold in a separate trust fund for the benefit of Securityholders of any Series of Securities all money held by it as Paying Agent.  Upon any bankruptcy, reorganization or similar proceeding with respect to the Issuers, the Trustee shall serve as Paying Agent for the Securities.

 

Section 2.6.                                 Securityholder Lists.

 

The Trustee shall preserve in as current a form as is reasonably practicable the most recent list available to it of the names and addresses of Securityholders of each Series of Securities and shall otherwise comply with TIA § 312(a).  If the Trustee is not the Registrar, the Issuers shall furnish to the Trustee at least ten days before each interest payment date and at such other times as the Trustee may request in writing a list, in such form and as of such date as the Trustee may reasonably require, of the names and addresses of Securityholders of each Series of Securities.

 

Section 2.7.                                 Transfer and Exchange.

 

Where Securities of a Series are presented to the Registrar or a co-registrar with a request to register a transfer or to exchange them for an equal principal amount of Securities of the same Series, the Registrar shall register the transfer or make the exchange if its requirements for such transactions are met.  To permit registrations of transfers and exchanges, the Trustee shall authenticate Securities at the Registrar’s request.  No service charge shall be made for any registration of transfer or exchange (except as otherwise expressly permitted herein), but the Issuers may require payment of a sum sufficient to cover any transfer tax or similar governmental charge payable in connection therewith (other than any such transfer tax or similar governmental charge payable upon exchanges pursuant to Sections 2.11, 3.6 or 9.6).

 

Neither the Issuers nor the Registrar shall be required (a) to issue, register the transfer of, or exchange Securities of any Series for the period beginning at the opening of business fifteen days immediately preceding the sending of a notice of redemption of Securities of that Series selected for redemption and ending at the close of business on the day such notice is sent, or (b) to register the transfer of or exchange Securities of any Series selected, called or 

11

 

being called for redemption as a whole or the portion being redeemed of any such Securities selected, called or being called for redemption in part.

 

Section 2.8.                                 Mutilated, Destroyed, Lost and Stolen Securities.

 

If any mutilated Security is surrendered to the Trustee, the Issuers shall execute and the Trustee shall authenticate and deliver in exchange therefor a new Security of the same Series and of like tenor and principal amount and bearing a number not contemporaneously outstanding.

 

If there shall be delivered to the Issuers and the Trustee (i) evidence to their satisfaction of the destruction, loss or theft of any Security and (ii) such security or indemnity bond as may be required by each of them to hold itself and any of its agents harmless, then, in the absence of notice to the Issuers or the Trustee that such Security has been acquired by a bona fide purchaser, the Issuers shall execute and upon receipt of an Issuer Order the Trustee shall authenticate and make available for delivery, in lieu of any such destroyed, lost or stolen Security, a new Security of the same Series and of like tenor and principal amount and bearing a number not contemporaneously outstanding.

 

In case any such mutilated, destroyed, lost or stolen Security has become or is about to become due and payable, the Issuers in their discretion may, instead of issuing a new Security, pay such Security.

 

Upon the issuance of any new Security under this Section, the Issuers may require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of the Trustee) connected therewith.

 

Every new Security of any Series issued pursuant to this Section in lieu of any destroyed, lost or stolen Security shall constitute an original additional contractual obligation of the Issuers, whether or not the destroyed, lost or stolen Security shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Securities of that Series duly issued hereunder.

 

The provisions of this Section are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities.

 

Section 2.9.                                 Outstanding Securities.

 

The Securities outstanding at any time are all the Securities authenticated by the Trustee except for those canceled by it, those delivered to it for cancellation, those reductions in the interest on a Global Security effected by the Trustee in accordance with the provisions hereof and those described in this Section as not outstanding.

 

If a Security is replaced pursuant to Section 2.8, it ceases to be outstanding until the Trustee receives proof satisfactory to it that the replaced Security is held by a bona fide purchaser.

 

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If the Paying Agent (other than the Partnership, a Subsidiary of the Partnership or an Affiliate of the Partnership) holds on the Maturity of Securities of a Series money sufficient to pay such Securities payable on that date, then on and after that date such Securities of the Series cease to be outstanding and interest on them ceases to accrue.

 

The Issuers may purchase or otherwise acquire the Securities, whether by open market purchases, negotiated transactions or otherwise.  A Security does not cease to be outstanding because the Issuers or an Affiliate of the Issuers holds the Security (but see Section 2.10 below).

 

In determining whether the Holders of the requisite principal amount of outstanding Securities have given any request, demand, authorization, direction, notice, consent or waiver hereunder, the principal amount of a Discount Security that shall be deemed to be outstanding for such purposes shall be the amount of the principal thereof that would be due and payable as of the date of such determination upon a declaration of acceleration of the Maturity thereof pursuant to Section 6.2.

 

Section 2.10.                          Treasury Securities.

 

In determining whether the Holders of the required principal amount of Securities of a Series have concurred in any request, demand, authorization, direction, notice, consent or waiver, Securities of a Series owned by the Issuers or any Affiliate of the Issuers shall be disregarded, except that for the purposes of determining whether the Trustee shall be protected in relying on any such request, demand, authorization, direction, notice, consent or waiver only Securities of a Series that a Responsible Officer of the Trustee knows are so owned shall be so disregarded.

 

Section 2.11.                          Temporary Securities.

 

Until definitive Securities are ready for delivery, the Issuers may prepare and the Trustee shall authenticate temporary Securities upon an Issuer Order.  Temporary Securities shall be substantially in the form of definitive Securities but may have variations that the Issuers consider appropriate for temporary Securities.  Without unreasonable delay, the Issuers shall prepare and the Trustee upon receipt of an Issuer Order shall authenticate definitive Securities of the same Series and date of maturity in exchange for temporary Securities.  Until so exchanged, temporary securities shall have the same rights under this Indenture as the definitive Securities.

 

Section 2.12.                          Cancellation.

 

The Issuers at any time may deliver Securities to the Trustee for cancellation.  The Registrar and the Paying Agent shall forward to the Trustee any Securities surrendered to them for registration of transfer, exchange or payment.  The Trustee shall cancel all Securities surrendered for transfer, exchange, payment, replacement or cancellation and shall destroy such canceled Securities (subject to the record retention requirement of the Exchange Act and the Trustee) and deliver a certificate of such cancellation to the Issuers upon written request of the Issuers.  The Issuers may not issue new Securities to replace Securities that they have paid or delivered to the Trustee for cancellation.

 

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Section 2.13.                          Defaulted Interest.

 

If the Issuers default in a payment of interest on a Series of Securities, they shall pay the defaulted interest, plus, to the extent permitted by law, any interest payable on the defaulted interest, to the persons who are Securityholders of the Series on a subsequent special record date.  The Issuers shall fix the record date and payment date.  At least 10 days before the special record date, the Issuers shall send to the Trustee and to each Securityholder of the Series a notice that states the special record date, the payment date and the amount of interest to be paid.  The Issuers may pay defaulted interest in any other lawful manner.

 

Section 2.14.                          Global Securities.

 

2.14.1.                                   Terms of Securities.  A Board Resolution of each Issuer, a supplemental indenture hereto or an Officer’s Certificate of each Issuer shall establish whether the Securities of a Series shall be issued in whole or in part in the form of one or more Global Securities and the Depositary for such Global Security or Securities.

 

2.14.2.                                   Transfer and Exchange.  Notwithstanding any provisions to the contrary contained in Section 2.7 of the Indenture and in addition thereto, any Global Security shall be exchangeable pursuant to Section 2.7 of the Indenture for Securities registered in the names of Holders other than the Depositary for such Security or its nominee only if (i) such Depositary notifies the Issuers that it is unwilling or unable to continue as Depositary for such Global Security or if at any time such Depositary ceases to be a clearing agency registered under the Exchange Act, and, in either case, the Issuers fail to appoint a successor Depositary registered as a clearing agency under the Exchange Act within 90 days of such event or (ii) the Issuers execute and deliver to the Trustee an Officer’s Certificate to the effect that such Global Security shall be so exchangeable.  Any Global Security that is exchangeable pursuant to the preceding sentence shall be exchangeable for Securities registered in such names as the Depositary shall direct in writing in an aggregate principal amount equal to the principal amount of the Global Security with like tenor and terms.

 

Except as provided in this Section 2.14.2, a Global Security may not be transferred except as a whole by the Depositary with respect to such Global Security to a nominee of such Depositary, by a nominee of such Depositary to such Depositary or another nominee of such Depositary or by the Depositary or any such nominee to a successor Depositary or a nominee of such a successor Depositary.

 

2.14.3.                                   Legends.  Any Global Security issued hereunder shall bear a legend in substantially the following form:

 

“THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF THE DEPOSITARY OR A NOMINEE OF THE DEPOSITARY.  THIS SECURITY IS EXCHANGEABLE FOR SECURITIES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITARY OR ITS NOMINEE ONLY IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE, AND MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE 

 

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DEPOSITARY, BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH A SUCCESSOR DEPOSITARY.”

 

In addition, so long as the Depository Trust Company (“DTC”) is the Depositary, each Global Note registered in the name of DTC or its nominee shall bear a legend in substantially the following form:

 

“UNLESS THIS GLOBAL NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE ISSUERS OR THEIR AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY GLOBAL NOTE 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 THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.”

 

2.14.4.                                   Acts of Holders.  The Depositary, as a Holder, may appoint agents and otherwise authorize participants to give or take any request, demand, authorization, direction, notice, consent, waiver or other action which a Holder is entitled to give or take under the Indenture.

 

2.14.5.                                   Payments.  Notwithstanding the other provisions of this Indenture, unless otherwise specified as contemplated by Section 2.2, payment of the principal of and interest, if any, on any Global Security shall be made to the Holder thereof.

 

2.14.6.                                   Consents, Declaration and Directions.  The Issuers, the Trustee and any Agent shall treat a person as the Holder of such principal amount of outstanding Securities of such Series represented by a Global Security as shall be specified in a written statement of the Depositary or by the applicable procedures of such Depositary with respect to such Global Security, for purposes of obtaining any consents, declarations, waivers or directions required to be given by the Holders pursuant to this Indenture.

 

Section 2.15.                          CUSIP Numbers.

 

The Issuers in issuing the Securities may use “CUSIP” numbers (if then generally in use), and, if so, the Trustee shall use “CUSIP” numbers in notices of redemption as a convenience to Holders; provided that any such notice may state that no representation is made as to the correctness of such numbers either as printed on the Securities or as contained in any notice of a redemption and that reliance may be placed only on the other elements of identification printed on the Securities, and any such redemption shall not be affected by any defect in or omission of such numbers.

 

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ARTICLE III.
 REDEMPTION

 

Section 3.1.                                 Notice to Trustee.

 

The Issuers may, with respect to any Series of Securities, reserve the right to redeem and pay the Series of Securities or may covenant to redeem and pay the Series of Securities or any part thereof prior to the Stated Maturity thereof at such time and on such terms as provided for in such Securities.  If a Series of Securities is redeemable and the Issuers want or are obligated to redeem prior to the Stated Maturity thereof all or part of the Series of Securities pursuant to the terms of such Securities, it shall notify the Trustee in writing of the redemption date and the principal amount of Series of Securities to be redeemed.  The Issuers shall give the notice at least 15 days before the redemption date, unless a shorter period is satisfactory to the Trustee.

 

Section 3.2.                                 Selection of Securities to be Redeemed.

 

Unless otherwise indicated for a particular Series by a Board Resolution, a supplemental indenture hereto or an Officer’s Certificate, if less than all the Securities of a Series are to be redeemed, the Securities of the Series to be redeemed will be selected as follows:  (a) if the Securities are in the form of Global Securities, in accordance with the procedures of the Depositary, (b) if the Securities are listed on any national securities exchange, in compliance with the requirements of the principal national securities exchange, if any, on which the Securities are listed, or (c) if not otherwise provided for under clause (a) or (b) in the manner that the Trustee deems fair and appropriate, including by lot or other method, unless otherwise required by law or applicable stock exchange requirements, subject, in the case of Global Securities, to the applicable rules and procedures of the Depositary.  The Securities to be redeemed shall be selected from Securities of the Series outstanding not previously called for redemption.  Portions of the principal of Securities of the Series that have denominations larger than $1,000 may be selected for redemption.  Securities of the Series and portions of them it selected for redemption shall be in amounts of $1,000 or whole multiples of $1,000 or, with respect to Securities of any Series issuable in other denominations pursuant to Section 2.2.10, the minimum principal denomination for each Series and the authorized integral multiples thereof.  Provisions of this Indenture that apply to Securities of a Series called for redemption also apply to portions of Securities of that Series called for redemption.

 

Section 3.3.                                 Notice of Redemption.

 

Unless otherwise indicated for a particular Series by Board Resolution, a supplemental indenture hereto or an Officer’s Certificate, at least 15 days but not more than 60 days before a redemption date, the Issuers shall send or cause to be sent by first-class mail or electronically, in accordance with the procedures of the Depositary, a notice of redemption to each Holder whose Securities are to be redeemed.

 

The notice shall identify the Securities of the Series to be redeemed and shall state:

 

(a)                                 the redemption date;

 

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(b)                                 the redemption price;

 

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

 

(d)                                 if any Securities are being redeemed in part, the portion of the principal amount of such Securities to be redeemed and that, after the redemption date and upon surrender of such Security, a new Security or Securities in principal amount equal to the unredeemed portion of the original Security shall be issued in the name of the Holder thereof upon cancellation of the original Security;

 

(e)                                  that Securities of the Series called for redemption must be surrendered to the Paying Agent to collect the redemption price;

 

(f)                                   that interest on Securities of the Series called for redemption ceases to accrue on and after the redemption date unless the Issuers default in the deposit of the redemption price;

 

(g)                                  the CUSIP number, if any; and

 

(h)                                 any other information as may be required by the terms of the particular Series or the Securities of a Series being redeemed.

 

At the Issuers’ request, the Trustee shall give the notice of redemption in the Issuers’ names and at their expense, provided, however, that the Issuers have delivered to the Trustee, at least 10 days (unless a shorter time shall be acceptable to the Trustee) prior to the notice date, an Officer’s Certificate requesting that the Trustee give such notice and setting forth the information to be stated in such notice.

 

Section 3.4.                                 Effect of Notice of Redemption.

 

Once notice of redemption is sent as provided in Section 3.3, Securities of a Series called for redemption become due and payable on the redemption date and at the redemption price.  Except as otherwise provided in the supplemental indenture, Board Resolution or Officer’s Certificate for a Series, a notice of redemption may not be conditional.  Upon surrender to the Paying Agent, such Securities shall be paid at the redemption price plus accrued interest to the redemption date.

 

Section 3.5.                                 Deposit of Redemption Price.

 

On or before 11:00 a.m., New York City time, on the redemption date, the Issuers shall deposit with the Paying Agent money sufficient to pay the redemption price of and accrued interest, if any, on all Securities to be redeemed on that date.

 

Section 3.6.                                 Securities Redeemed in Part.

 

Upon surrender of a Security that is redeemed in part, the Trustee shall authenticate for the Holder a new Security of the same Series and the same maturity equal in principal amount to the unredeemed portion of the Security surrendered.

 

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ARTICLE IV.
 COVENANTS

 

Section 4.1.                                 Payment of Principal and Interest.

 

The Issuers covenant and agree for the benefit of the Holders of each Series of Securities that they will duly and punctually pay the principal of and interest, if any, on the Securities of that Series in accordance with the terms of such Securities and this Indenture.  On or before 11:00 a.m., New York City time, on the applicable payment date, the Issuers shall deposit with the Paying Agent money sufficient to pay the principal of and interest, if any, on the Securities of each Series in accordance with the terms of such Securities and this Indenture.

 

Section 4.2.                                 SEC Reports.

 

To the extent any Securities of a Series are outstanding, the Partnership shall deliver to the Trustee within 15 days after it files them with the SEC copies of the annual reports and of the information, documents, and other reports (or copies of such portions of any of the foregoing as the SEC may by rules and regulations prescribe) which the Partnership is required to file with the SEC pursuant to Section 13 or 15(d) of the Exchange Act.  The Partnership also shall comply with the other provisions of TIA § 314(a). Reports, information and documents filed with the SEC via the EDGAR system will be deemed to be delivered to the Trustee as of the time of such filing via EDGAR for purposes of this Section 4.2.

 

Delivery of reports, information and documents to the Trustee under this Section 4.2 are for informational purposes only and the Trustee’s receipt of the foregoing shall not constitute constructive or actual notice of any information contained therein or determinable from information contained therein, including the Partnership’s compliance with any of its covenants hereunder (as to which the Trustee is entitled to rely exclusively on Officer’s Certificates).

 

Section 4.3.                                 Compliance Certificate.

 

To the extent any Securities of a Series are outstanding, the Partnership shall deliver to the Trustee, within 120 days after the end of each fiscal year of the Partnership, an Officer’s Certificate stating that a review of the activities of the Partnership and its Subsidiaries during the preceding fiscal year has been made under the supervision of the signing Officers with a view to determining whether the Partnership has kept, observed, performed and fulfilled its obligations under this Indenture, and further stating, as to each such Officer signing such certificate, that to the best of his/her knowledge the Partnership has kept, observed, performed and fulfilled each and every covenant contained in this Indenture and is not in default in the performance or observance of any of the terms, provisions and conditions hereof (or, if a Default or Event of Default shall have occurred, describing all such Defaults or Events of Default of which the Officer may have knowledge).

 

Section 4.4.                                 Stay, Extension and Usury Laws.

 

The Issuers covenant (to the extent that they may lawfully do so) that they will not at any time insist upon, plead, or in any manner whatsoever claim or take the benefit or 

 

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advantage of, any stay, extension or usury law wherever enacted, now or at any time hereafter in force, which may affect the covenants or the performance of this Indenture or the Securities; and the Issuers (to the extent they may lawfully do so) hereby expressly waive all benefit or advantage of any such law and covenants that they will not, by resort to any such law, hinder, delay or impede the execution of any power herein granted to the Trustee, but will suffer and permit the execution of every such power as though no such law has been enacted.

 

ARTICLE V.
 SUCCESSORS

 

Section 5.1.                                 When Issuers May Merge, Etc.

 

Neither of the Issuers shall consolidate with or merge with or into, or convey, transfer or lease all or substantially all of its properties and assets to, any person (a “successor person”) unless:

 

(a)                                 such Issuer is the surviving corporation or the successor person (if other than such Issuer) is a corporation organized and validly existing under the laws of any U.S. domestic jurisdiction and expressly assumes such Issuer’s obligations on the Securities and under this Indenture, provided that, if Finance Corp. is a co-issuer, then it may not merge or consolidate with or into another entity other than a corporation satisfying such requirement for so long as the Partnership is not a corporation; and

 

(b)                                 immediately after giving effect to the transaction, no Default or Event of Default, shall have occurred and be continuing.

 

The Issuers shall deliver to the Trustee prior to the consummation of the proposed transaction an Officer’s Certificate to the foregoing effect and an Opinion of Counsel stating that the proposed transaction and any supplemental indenture comply with this Indenture.

 

Notwithstanding the above, any Subsidiary of the Partnership may consolidate with, merge into or transfer all or part of its properties to the Partnership. Neither an Officer’s Certificate nor an Opinion of Counsel shall be required to be delivered in connection therewith.

 

Section 5.2.                                 Successor Corporation Substituted.

 

Upon any consolidation or merger, or any sale, lease, conveyance or other disposition of all or substantially all of the assets of either Issuer in accordance with Section 5.1, the successor corporation formed by such consolidation or into or with which such Issuer is merged or to which such sale, lease, conveyance or other disposition is made shall succeed to, and be substituted for, and may exercise every right and power of, such Issuer under this Indenture with the same effect as if such successor person has been named as such Issuer herein; provided, however, that the predecessor Issuer in the case of a sale, conveyance or other disposition (other than a lease) shall be released from all obligations and covenants under this Indenture and the Securities.

 

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ARTICLE VI.
 DEFAULTS AND REMEDIES

 

Section 6.1.                                 Events of Default.

 

“Event of Default,” wherever used herein with respect to Securities of any Series, means any one of the following events, unless in the establishing Board Resolution, supplemental indenture or Officer’s Certificate, it is provided that such Series shall not have the benefit of said Event of Default:

 

(a)                                 default in the payment of any interest on any Security of that Series when it becomes due and payable, and continuance of such default for a period of 30 days (unless the entire amount of such payment is deposited by the Issuers with the Trustee or with a Paying Agent prior to 11:00 a.m., New  York City time, on the 30th day of such period); or

 

(b)                                 default in the payment of principal of any Security of that Series at its Maturity; or

 

(c)                                  default in the performance or breach of any covenant or warranty of the Issuers in this Indenture (other than defaults pursuant to paragraphs (a) or (b) above or pursuant to a covenant or warranty that has been included in this Indenture solely for the benefit of Series of Securities other than that Series), which default continues uncured for a period of 60 days after there has been given, by registered or certified mail, to the Issuers by the Trustee or to the Issuers and the Trustee by the Holders of at least 25% in principal amount of the outstanding Securities of that Series a written notice specifying such default or breach and requiring it to be remedied and stating that such notice is a “Notice of Default” hereunder; or

 

(d)                                 either Issuer pursuant to or within the meaning of any Bankruptcy Law:

 

(i)                                     commences a voluntary case,

 

(ii)                                  consents to the entry of an order for relief against it in an involuntary case,

 

(iii)                               consents to the appointment of a Custodian of it or for all or substantially all of its property,

 

(iv)                              makes a general assignment for the benefit of its creditors, or

 

(v)                                 generally is unable to pay its debts as the same become due; or

 

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

 

(i)                                     is for relief against an Issuer in an involuntary case,

 

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(ii)                                  appoints a Custodian of an Issuer or for all or substantially all of its property, or

 

(iii)                               orders the liquidation of an Issuer,

 

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

 

(f)                                   any other Event of Default provided with respect to Securities of that Series, which is specified in a Board Resolution, a supplemental indenture hereto or an Officer’s Certificate, in accordance with Section 2.2.18.

 

The term “Bankruptcy Law” means title 11, U.S. Code or any similar Federal or State law for the relief of debtors.  The term “Custodian” means any receiver, trustee, assignee, liquidator or similar official under any Bankruptcy Law.

 

The Issuers will provide the Trustee written of notice of any Default or Event of Default within 30 days of becoming aware of the occurrence of such Default or Event of Default, which notice will describe in reasonable detail the status of such Default or Event of Default and what action the Issuers are taking or propose to take in respect thereof.

 

Section 6.2.                                 Acceleration of Maturity; Rescission and Annulment.

 

If an Event of Default with respect to Securities of any Series at the time outstanding occurs and is continuing (other than an Event of Default referred to in Section 6.1(d) or (e)) then in every such case the Trustee or the Holders of not less than 25% in principal amount of the outstanding Securities of that Series may declare the principal amount (or, if any Securities of that Series are Discount Securities, such portion of the principal amount as may be specified in the terms of such Securities) of and accrued and unpaid interest, if any, on all of the Securities of that Series to be due and payable immediately, by a notice in writing to the Issuers (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or specified amount) and accrued and unpaid interest, if any, shall become immediately due and payable.  If an Event of Default specified in Section 6.1(d) or (e) shall occur, the principal amount (or specified amount) of and accrued and unpaid interest, if any, on all outstanding Securities shall ipso facto become and be immediately due and payable without any declaration or other act on the part of the Trustee or any Holder.

 

At any time after such a declaration of acceleration with respect to any Series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in principal amount of the outstanding Securities of that Series, by written notice to the Issuers and the Trustee, may rescind and annul such declaration and its consequences if all Events of Default with respect to Securities of that Series, other than the non-payment of the principal and interest, if any, of Securities of that Series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 6.13.

 

No such rescission shall affect any subsequent Default or impair any right consequent thereon.

 

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Section 6.3.                                 Collection of Indebtedness and Suits for Enforcement by Trustee.

 

The Issuers covenant that if

 

(a)                                 default is made in the payment of any interest on any Security when such interest becomes due and payable and such default continues for a period of 30 days, or

 

(b)                                 default is made in the payment of principal of any Security at the Maturity thereof, or

 

(c)                                  default is made in the deposit of any sinking fund payment, if any, when and as due by the terms of a Security,

 

then, the Issuers will, upon demand of the Trustee, pay to it, for the benefit of the Holders of such Securities, the whole amount then due and payable on such Securities for principal and interest and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal and any overdue interest at the rate or rates prescribed therefor in such Securities, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the compensation, reasonable expenses, disbursements and advances of the Trustee, its agents and counsel.

 

If the Issuers fail to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, may prosecute such proceeding to judgment or final decree and may enforce the same against the Issuers or any other obligor upon such Securities and collect the moneys adjudged or deemed to be payable in the manner provided by law out of the property of the Issuers or any other obligor upon such Securities, wherever situated.

 

If an Event of Default with respect to any Securities of any Series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such Series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.

 

Section 6.4.                                 Trustee May File Proofs of Claim.

 

In case of the pendency of any receivership, insolvency, liquidation, bankruptcy, reorganization, arrangement, adjustment, composition or other judicial proceeding relative to the Issuers or any other obligor upon the Securities or the property of any Issuer or of such other obligor or their creditors, the Trustee (irrespective of whether the principal of the Securities shall then be due and payable as therein expressed or by declaration or otherwise and irrespective of whether the Trustee shall have made any demand on the Issuers for the payment of overdue principal or interest) shall be entitled and empowered, by intervention in such proceeding or otherwise,

 

(a)                                 to file and prove a claim for the whole amount of principal and interest owing and unpaid in respect of the Securities and to file such other papers or documents 

 

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as may be necessary or advisable in order to have the claims of the Trustee (including any claim for the compensation, reasonable expenses, disbursements and advances of the Trustee, its agents and counsel) and of the Holders allowed in such judicial proceeding, and

 

(b)                                 to collect and receive any moneys or other property payable or deliverable on any such claims and to distribute the same,

 

and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is hereby authorized by each Holder to make such payments to the Trustee and, in the event that the Trustee shall consent to the making of such payments directly to the Holders, to pay to the Trustee any amount due it for the compensation, reasonable expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under Section 7.7.

 

Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any Holder any plan of reorganization, arrangement, adjustment or composition affecting the Securities or the rights of any Holder thereof or to authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding.

 

Section 6.5.                                 Trustee May Enforce Claims Without Possession of Securities.

 

All rights of action and claims under this Indenture or the Securities may be prosecuted and enforced by the Trustee without the possession of any of the Securities or the production thereof in any proceeding relating thereto, and any such proceeding instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment shall, after provision for the payment of the compensation, reasonable expenses, disbursements and advances of the Trustee, its agents and counsel, be for the ratable benefit of the Holders of the Securities in respect of which such judgment has been recovered.

 

Section 6.6.                                 Application of Money Collected.

 

Any money or property collected by the Trustee pursuant to this Article shall be applied in the following order, at the date or dates fixed by the Trustee and, in case of the distribution of such money or property on account of principal or interest, upon presentation of the Securities and the notation thereon of the payment if only partially paid and upon surrender thereof if fully paid:

 

First:                                                                     To the payment of all amounts due the Trustee under Section 7.7; and

 

Second:                                                    To the payment of the amounts then due and unpaid for principal of and interest on the Securities in respect of which or for the benefit of which such money has been collected, ratably, without preference or priority of any kind, according to the amounts due and payable on such Securities for principal and interest, respectively; and

 

Third:                                                               To the Issuers.

 

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Section 6.7.                                 Limitation on Suits.

 

No Holder of any Security of any Series shall have any right to institute any proceeding, judicial or otherwise, with respect to this Indenture, or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless

 

(a)                                 such Holder has previously given written notice to the Trustee of a continuing Event of Default with respect to the Securities of that Series;

 

(b)                                 the Holders of not less than 25% in principal amount of the outstanding Securities of that Series shall have made written request to the Trustee to institute proceedings in respect of such Event of Default in its own name as Trustee hereunder;

 

(c)                                  such Holder or Holders have offered to the Trustee indemnity or security satisfactory to the Trustee against the costs, expenses and liabilities which might be incurred by the Trustee in compliance with such request;

 

(d)                                 the Trustee for 60 days after its receipt of such notice, request and offer of indemnity has failed to institute any such proceeding; and

 

(e)                                  no direction inconsistent with such written request has been given to the Trustee during such 60-day period by the Holders of a majority in principal amount of the outstanding Securities of that Series;

 

it being understood, intended and expressly covenanted by the Holder of every Security with every other Holder and the Trustee that no one or more of such Holders shall have any right in any manner whatever by virtue of, or by availing of, any provision of this Indenture to affect, disturb or prejudice the rights of any other of such Holders, or to obtain or to seek to obtain priority or preference over any other of such Holders or to enforce any right under this Indenture, except in the manner herein provided and for the equal and ratable benefit of all such Holders of the applicable Series.

 

Section 6.8.                                 Unconditional Right of Holders to Receive Principal and Interest.

 

Notwithstanding any other provision in this Indenture, the Holder of any Security shall have the right, which is absolute and unconditional, to receive payment of the principal of and interest, if any, on such Security on the Maturity of such Security, including the Stated Maturity expressed in such Security (or, in the case of redemption, on the redemption date) and to institute suit for the enforcement of any such payment, and such rights shall not be impaired without the consent of such Holder.

 

Section 6.9.                                 Restoration of Rights and Remedies.

 

If the Trustee or any Holder has instituted any proceeding to enforce any right or remedy under this Indenture and such proceeding has been discontinued or abandoned for any reason, or has been determined adversely to the Trustee or to such Holder, then and in every such case, subject to any determination in such proceeding, the Issuers, the Trustee and the Holders shall be restored severally and respectively to their former positions hereunder and thereafter all

 

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rights and remedies of the Trustee and the Holders shall continue as though no such proceeding had been instituted.

 

Section 6.10.                          Rights and Remedies Cumulative.

 

Except as otherwise provided with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities in Section 2.8, no right or remedy herein conferred upon or reserved to the Trustee or to the Holders is intended to be exclusive of any other right or remedy, and every right and remedy shall, to the extent permitted by law, be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise.  The assertion or employment of any right or remedy hereunder, or otherwise, shall not, to the extent permitted by law, prevent the concurrent assertion or employment of any other appropriate right or remedy.

 

Section 6.11.                          Delay or Omission Not Waiver.

 

No delay or omission of the Trustee or of any Holder of any Securities to exercise any right or remedy accruing upon any Event of Default shall impair any such right or remedy or constitute a waiver of any such Event of Default or an acquiescence therein.  Every right and remedy given by this Article or by law to the Trustee or to the Holders may be exercised from time to time, and as often as may be deemed expedient, by the Trustee or by the Holders, as the case may be.

 

Section 6.12.                          Control by Holders.

 

The Holders of a majority in principal amount of the outstanding Securities of any Series shall have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred on the Trustee, with respect to the Securities of such Series, provided that

 

(a)                                 such direction shall not be in conflict with any rule of law or with this Indenture,

 

(b)                                 the Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such direction,

 

(c)                                  subject to the provisions of Section 7.1, the Trustee shall have the right to decline to follow any such direction if the Trustee in good faith shall, by a Responsible Officer of the Trustee, determine that the proceeding so directed would involve the Trustee in personal liability, and

 

(d)                                 prior to taking any action as directed under this Section 6.12, the Trustee shall be entitled to indemnity satisfactory to it against the costs, expenses and liabilities which might be incurred by it in compliance with such request or direction.

 

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Section 6.13.                          Waiver of Past Defaults.

 

The Holders of not less than a majority in principal amount of the outstanding Securities of any Series may on behalf of the Holders of all the Securities of such Series, by written notice to the Trustee and the Issuers, waive any past Default hereunder with respect to such Series and its consequences, except a Default in the payment of the principal of or interest on any Security of such Series (provided, however, that the Holders of a majority in principal amount of the outstanding Securities of any Series may rescind an acceleration and its consequences, including any related payment default that resulted from such acceleration).  Upon any such waiver, such Default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured, for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other Default or impair any right consequent thereon.

 

Section 6.14.                          Undertaking for Costs.

 

All parties to this Indenture agree, and each Holder of any Security by his acceptance thereof shall be deemed to have agreed, that any court may in its discretion require, in any suit for the enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for any action taken, suffered or omitted by it as Trustee, the filing by any party litigant in such suit of an undertaking to pay the costs of such suit, and that such court may in its discretion assess reasonable costs, including reasonable attorneys’ fees, against any party litigant in such suit, having due regard to the merits and good faith of the claims or defenses made by such party litigant; but the provisions of this Section shall not apply to any suit instituted by the Issuers, to any suit instituted by the Trustee, to any suit instituted by any Holder, or group of Holders, holding in the aggregate more than 10% in principal amount of the outstanding Securities of any Series, or to any suit instituted by any Holder for the enforcement of the payment of the principal of or interest on any Security on or after the Maturity of such Security, including the Stated Maturity expressed in such Security (or, in the case of redemption, on the redemption date).

 

ARTICLE VII.
 TRUSTEE

 

Section 7.1.                                 Duties of Trustee.

 

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

 

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

 

(i)                                     The Trustee need perform only those duties that are specifically set forth in this Indenture and no others.

 

(ii)                                  In the absence of bad faith on its part, the Trustee may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon Officer’s Certificates or Opinions of Counsel 

 

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furnished to the Trustee and conforming to the requirements of this Indenture; however, in the case of any such Officer’s Certificates or Opinions of Counsel which by any provisions hereof are specifically required to be furnished to the Trustee, the Trustee shall examine such Officer’s Certificates and Opinions of Counsel to determine whether or not they conform to the form requirements of this Indenture.

 

(c)                                  The Trustee may not be relieved from liability for its own negligent action, its own negligent failure to act or its own willful misconduct, except that:

 

(i)                                     This paragraph does not limit the effect of paragraph (b) of this Section.

 

(ii)                                  The Trustee shall not be liable for any error of judgment made in good faith by a Responsible Officer, unless it is proved that the Trustee was negligent in ascertaining the pertinent facts.

 

(iii)                               The Trustee shall not be liable with respect to any action taken, suffered or omitted to be taken by it with respect to Securities of any Series in good faith in accordance with the direction of the Holders of a majority in principal amount of the outstanding Securities of such Series relating to the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred upon the Trustee, under this Indenture with respect to the Securities of such Series in accordance with Section 6.12.

 

(d)                                 Every provision of this Indenture that in any way relates to the Trustee is subject to paragraph (a), (b) and (c) of this Section.

 

(e)                                  The Trustee may refuse to perform any duty or exercise any right or power unless it receives indemnity satisfactory to it against the costs, expenses and liabilities which might be incurred by it in performing such duty or exercising such right or power.

 

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

 

(g)                                  No provision of this Indenture shall require the Trustee to risk its own funds or otherwise incur any financial liability in the performance of any of its duties, or in the exercise of any of its rights or powers, if adequate indemnity against such risk is not assured to the Trustee in its satisfaction.

 

(h)                                 The Paying Agent, the Registrar and any authenticating agent shall be entitled to the protections and immunities as are set forth in paragraphs (e), (f) and (g) of this Section and in Section 7.2, each with respect to the Trustee.

 

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Section 7.2.                                 Rights of Trustee.

 

(a)                                 The Trustee may rely on and shall be protected in acting or refraining from acting upon any document (whether in its original or facsimile form) believed by it to be genuine and to have been signed or presented by the proper person.  The Trustee need not investigate any fact or matter stated in the document.

 

(b)                                 Before the Trustee acts or refrains from acting, it may require an Officer’s Certificate or an Opinion of Counsel or both.  The Trustee shall not be liable for any action it takes or omits to take in good faith in reliance on such Officer’s Certificate or Opinion of Counsel.

 

(c)                                  The Trustee may act through agents and shall not be responsible for the misconduct or negligence of any agent appointed with due care.  No Depositary shall be deemed an agent of the Trustee and the Trustee shall not be responsible for any act or omission by any Depositary.

 

(d)                                 The Trustee shall not be liable for any action it takes or omits to take in good faith which it believes to be authorized or within its rights or powers, provided that the Trustee’s conduct does not constitute willful misconduct or negligence.

 

(e)                                  The Trustee may consult with counsel and the advice of such counsel or any Opinion of Counsel shall be full and complete authorization and protection in respect of any action taken, suffered or omitted by it hereunder without willful misconduct or negligence, and in reliance thereon.

 

(f)                                   The Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the request or direction of any of the Holders of Securities unless such Holders shall have offered to the Trustee security or indemnity satisfactory to it against the costs, expenses and liabilities which might be incurred by it in compliance with such request or direction.

 

(g)                                  The Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document, but the Trustee, in its discretion, may make such further inquiry or investigation into such facts or matters as it may see fit.

 

(h)                                 The Trustee shall not be deemed to have notice of any Default or Event of Default unless a Responsible Officer of the Trustee has actual knowledge thereof or unless written notice of any event which is in fact such a default is received by the Trustee at the Corporate Trust Office of the Trustee, and such notice references the Securities generally or the Securities of a particular Series and this Indenture.

 

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

 

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(j)                                    The permissive right of the Trustee to take the actions permitted by this Indenture shall not be construed as an obligation or duty to do so.

 

Section 7.3.                                 Individual Rights of Trustee.

 

The Trustee in its individual or any other capacity may become the owner or pledgee of Securities and may otherwise deal with the Issuers or any Affiliate of the Issuers with the same rights it would have if it were not Trustee.  Any Agent may do the same with like rights.  The Trustee is also subject to Sections 7.10 and 7.11.

 

Section 7.4.                                 Trustee’s Disclaimer.

 

The Trustee makes no representation as to the validity or adequacy of this Indenture or the Securities, it shall not be accountable for the Issuers’ use of the proceeds from the Securities, and it shall not be responsible for any statement in the Securities other than its authentication.

 

Section 7.5.                                 Notice of Defaults.

 

If a Default or Event of Default occurs and is continuing with respect to the Securities of any Series and if it is known to a Responsible Officer of the Trustee, the Trustee shall send to each Securityholder of the Securities of that Series notice of a Default or Event of Default within 90 days after it occurs or, if later, after a Responsible Officer of the Trustee has knowledge of such Default or Event of Default.  Except in the case of a Default or Event of Default in payment of principal of or interest on any Security of any Series, the Trustee may withhold the notice if and so long as its corporate trust committee or a committee of its Responsible Officers in good faith determines that withholding the notice is in the interests of Securityholders of that Series.

 

Section 7.6.                                 Reports by Trustee to Holders.

 

Within 60 days after each anniversary of the date of this Indenture, the Trustee shall transmit by mail to all Securityholders, as their names and addresses appear on the register kept by the Registrar, a brief report dated as of such anniversary date, in accordance with, and to the extent required under, TIA § 313.

 

A copy of each report at the time of its mailing to Securityholders of any Series shall be filed with the SEC and each national securities exchange on which the Securities of that Series are listed.  The Issuers shall promptly notify the Trustee in writing when Securities of any Series are listed on any national securities exchange.

 

Section 7.7.                                 Compensation and Indemnity.

 

The Issuers shall pay to the Trustee from time to time compensation for its services as the Issuers and the Trustee shall from time to time agree upon in writing.  The Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust.  The Issuers shall reimburse the Trustee upon request for all reasonable out of 

 

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pocket expenses incurred by it.  Such expenses shall include the reasonable compensation and expenses of the Trustee’s agents and counsel.

 

The Issuers shall indemnify each of the Trustee and any predecessor Trustee (including for the cost of defending itself) against any cost, expense or liability, including taxes (other than taxes based upon, measured by or determined by the income of the Trustee) incurred by it except as set forth in the next paragraph in the performance of its duties under this Indenture as Trustee or Agent.  The Trustee shall notify the Issuers promptly of any claim for which it may seek indemnity.  Failure by the Trustee to so notify the Issuers are not relieve the Issuers of their obligations hereunder, unless and to the extent that the Issuers are materially prejudiced thereby.  The Issuers shall defend the claim and the Trustee shall cooperate in the defense.  The Trustee may have one separate counsel and the Issuer shall pay the reasonable fees and expenses of such counsel.  The Issuers need not pay for any settlement made without its consent, which consent will not be unreasonably withheld.  This indemnification shall apply to officers, directors, employees, shareholders and agents of the Trustee.

 

The Issuers need not reimburse any expense or indemnify against any loss or liability incurred by the Trustee or by any officer, director, employee, shareholder or agent of the Trustee through willful misconduct or negligence.

 

To secure the Issuers’ payment obligations in this Section, the Trustee shall have a lien prior to the Securities of any Series on all money or property held or collected by the Trustee, except that held in trust to pay principal of and interest on particular Securities of that Series.

 

When the Trustee incurs expenses or renders services after an Event of Default specified in Section 6.1(d) or (e) occurs, the expenses and the compensation for the services are intended to constitute expenses of administration under any Bankruptcy Law.

 

The provisions of this Section shall survive the termination of this Indenture.

 

Section 7.8.                                 Replacement of Trustee.

 

A resignation or removal of the Trustee and appointment of a successor Trustee shall become effective only upon the successor Trustee’s acceptance of appointment as provided in this Section.

 

The Trustee may resign with respect to the Securities of one or more Series by so notifying the Issuers at least 30 days prior to the date of the proposed resignation.  The Holders of a majority in principal amount of the Securities of any Series may remove the Trustee with respect to that Series by so notifying the Trustee and the Issuers.  The Issuers may remove the Trustee with respect to Securities of one or more Series if:

 

(a)                                 the Trustee fails to comply with Section 7.10;

 

(b)                                 the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;

 

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(c)           a Custodian or public officer takes charge of the Trustee or its property; or

 

(d)           the Trustee becomes incapable of acting.

 

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

 

If a successor Trustee with respect to the Securities of any one or more Series does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuers or the Holders of at least a majority in principal amount of the Securities of the applicable Series may petition any court of competent jurisdiction for the appointment of a successor Trustee.

 

A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Issuers.  Immediately after that, the retiring Trustee shall transfer all property held by it as Trustee to the successor Trustee subject to the lien provided for in Section 7.7, the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee with respect to each Series of Securities for which it is acting as Trustee under this Indenture.  A successor Trustee shall mail a notice of its succession to each Securityholder of each such Series.  Notwithstanding replacement of the Trustee pursuant to this Section 7.8, the Issuers’ obligations under Section 7.7 hereof shall continue for the benefit of the retiring Trustee with respect to expenses and liabilities incurred by it for actions taken or omitted to be taken in accordance with its rights, powers and duties under this Indenture prior to such replacement.

 

Section 7.9.           Successor Trustee by Merger, Etc.

 

If the Trustee consolidates with, merges or converts into, or transfers all or substantially all of its corporate trust business to, another corporation, the successor corporation without any further act shall be the successor Trustee, subject to Section 7.10.

 

Section 7.10.         Eligibility; Disqualification.

 

This Indenture shall always have a Trustee who satisfies the requirements of TIA § 310(a)(1), (2) and (5).  The Trustee shall always have a combined capital and surplus of at least $25,000,000 as set forth in its most recent published annual report of condition.  The Trustee shall comply with TIA § 310(b).

 

Section 7.11.         Preferential Collection of Claims Against Company.

 

The Trustee is subject to TIA § 311(a), excluding any creditor relationship listed in TIA § 311(b).  A Trustee who has resigned or been removed shall be subject to TIA § 311(a) to the extent indicated.

 

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ARTICLE VIII.
 SATISFACTION AND DISCHARGE; DEFEASANCE

 

Section 8.1.           Satisfaction and Discharge of Indenture.

 

This Indenture shall upon Issuer Order be discharged with respect to the Securities of any Series and cease to be of further effect as to all Securities of such Series (except as hereinafter provided in this Section 8.1), and the Trustee, at the expense of the Issuers, shall execute instruments acknowledging satisfaction and discharge of this Indenture, when

 

(a)           either

 

(i)            all Securities of such Series theretofore authenticated and delivered (other than Securities that have been destroyed, lost or stolen and that have been replaced or paid) have been delivered to the Trustee for cancellation; or

 

(ii)           all such Securities of such Series not theretofore delivered to the Trustee for cancellation

 

(1)           have become due and payable by reason of sending a notice of redemption or otherwise, or

 

(2)           will become due and payable at their Stated Maturity within one year, or

 

(3)           have been called for redemption or are to be called for redemption within one year under arrangements satisfactory to the Trustee for the giving of notice of redemption by the Trustee in the name, and at the expense, of the Issuers, or

 

(4)           are deemed paid and discharged pursuant to Section 8.3, as applicable;

 

and the Issuers, in the case of (1), (2) or (3) above, shall have irrevocably deposited or caused to be deposited with the Trustee as trust funds in trust an amount of money or U.S. Government Obligations, which amount shall be sufficient for the purpose of paying and discharging each installment of principal (including mandatory sinking fund or analogous payments) of and interest on all the Securities of such Series on the dates such installments of principal or interest are due;

 

(b)           the Issuers have paid or caused to be paid all other sums payable hereunder by the Issuers; and

 

(c)           the Issuers shall have delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that all conditions precedent provided for relating to the satisfaction and discharge contemplated by this Section have been complied with.

 

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Notwithstanding the satisfaction and discharge of this Indenture, the obligations of the Issuers to the Trustee under Section 7.7, and, if money shall have been deposited with the Trustee pursuant to clause (a) of this Section, the provisions of Sections 2.4, 2.7, 2.8, 8.2 and  8.5 shall survive.

 

Section 8.2.           Application of Trust Funds; Indemnification.

 

(a)           Subject to the provisions of Section 8.5, all money and U.S. Government Obligations or Foreign Government Obligations deposited with the Trustee pursuant to Section 8.1, 8.3 or 8.4 and all money received by the Trustee in respect of U.S. Government Obligations or Foreign Government Obligations deposited with the Trustee pursuant to Section 8.1, 8.3 or 8.4, shall be held in trust and applied by it, in accordance with the provisions of the Securities and this Indenture, to the payment, either directly or through any Paying Agent (including the Partnership acting as its own Paying Agent) as the Trustee may determine, to the persons entitled thereto, of the principal and interest for whose payment such money has been deposited with or received by the Trustee or to make mandatory sinking fund payments or analogous payments as contemplated by Sections 8.1, 8.3 or 8.4.

 

(b)           The Issuers shall pay and shall indemnify the Trustee against any tax, fee or other charge imposed on or assessed against U.S. Government Obligations or Foreign Government Obligations deposited pursuant to Sections 8.1, 8.3 or 8.4 or the interest and principal received in respect of such obligations other than any payable by or on behalf of Holders.

 

(c)           The Trustee shall deliver or pay to the Issuers from time to time upon Issuer Order any U.S. Government Obligations or Foreign Government Obligations or money held by it as provided in Sections 8.3 or 8.4 which, in the opinion of a nationally recognized firm of independent certified public accountants or investment bank expressed in a written certification thereof delivered to the Trustee, are then in excess of the amount thereof which then would have been required to be deposited for the purpose for which such U.S. Government Obligations or Foreign Government Obligations or money were deposited or received.  This provision shall not authorize the sale by the Trustee of any U.S. Government Obligations or Foreign Government Obligations held under this Indenture.

 

Section 8.3.           Legal Defeasance of Securities of any Series.

 

Unless this Section 8.3 is otherwise specified, pursuant to Section 2.2, to be inapplicable to Securities of any Series, the Issuers shall be deemed to have paid and discharged the entire indebtedness on all the outstanding Securities of any Series on the 91st day after the date of the deposit referred to in subparagraph (d) hereof, and the provisions of this Indenture, as it relates to such outstanding Securities of such Series, shall no longer be in effect (and the Trustee, at the expense of the Issuers, shall, upon receipt of a an Issuer Order, execute instruments acknowledging the same), except as to:

 

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(a)           the rights of Holders of Securities of such Series to receive, from the trust funds described in subparagraph (d) hereof, (i) payment of the principal of and each installment of principal of and interest on the outstanding Securities of such Series on the Maturity of such principal or installment of principal or interest and (ii) the benefit of any mandatory sinking fund payments applicable to the Securities of such Series on the day on which such payments are due and payable in accordance with the terms of this Indenture and the Securities of such Series;

 

(b)           the provisions of Sections 2.4, 2.5, 2.7, 2.8, 7.7, 8.2, 8.3, 8.5 and 8.6; and

 

(c)           the rights, powers, trusts and immunities of the Trustee hereunder and the Issuers’ obligations in connection therewith;

 

provided that, the following conditions shall have been satisfied:

 

(d)           the Issuers shall have irrevocably deposited or caused to be deposited (except as provided in Section 8.2(c)) with the Trustee as trust funds specifically pledged as security for and dedicated solely to the benefit of the Holders of such Securities (i) in the case of Securities of such Series denominated in Dollars, cash in Dollars and/or U.S. Government Obligations, or (ii) in the case of Securities of such Series denominated in a Foreign Currency (other than a composite currency), money and/or Foreign Government Obligations, which through the payment of interest and principal in respect thereof in accordance with their terms, will provide (and without reinvestment and assuming no tax liability will be imposed on such Trustee), not later than one day before the due date of any payment of money, an amount in cash, sufficient, in the opinion of a nationally recognized firm of independent public accountants or investment bank expressed in a written certification thereof delivered to the Trustee, to pay and discharge each installment of principal of and interest, on and any mandatory sinking fund payments in respect of all the Securities of such Series on the dates such installments of principal or interest and such sinking fund payments are due;

 

(e)           such deposit will not result in a breach or violation of, or constitute a default under, this Indenture or any other agreement or instrument to which either Issuer is a party or by which it is bound;

 

(f)            no Default or Event of Default with respect to the Securities of such Series shall have occurred and be continuing on the date of such deposit or during the period ending on the 91st day after such date;

 

(g)           the Issuers shall have delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel to the effect that (i) the Issuers have received from, or there has been published by, the Internal Revenue Service a ruling, or (ii) since the date of execution of this Indenture, there has been a change in the applicable Federal income tax law, in either case to the effect that, and based thereon such Opinion of Counsel shall confirm that, the Holders of the Securities of such Series will not recognize income, gain or loss for Federal income tax purposes as a result of such deposit, defeasance and discharge and will be subject to Federal income tax on the same amount and in the same 

 

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manner and at the same times as would have been the case if such deposit, defeasance and discharge had not occurred;

 

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

 

(i)            the Issuers shall have delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that all conditions precedent provided for relating to the defeasance contemplated by this Section have been complied with.

 

Section 8.4.           Covenant Defeasance.

 

Unless this Section 8.4 is otherwise specified pursuant to Section 2.2 to be inapplicable to Securities of any Series, the Issuers may omit to comply with respect to the Securities of any Series with any term, provision or condition set forth under Sections 4.2, 4.3, 4.4, and 5.1 and, unless otherwise specified therein, any additional covenants specified in a supplemental indenture for such Series of Securities or a Board Resolution or an Officer’s Certificate delivered pursuant to Section 2.2 (and the failure to comply with any such covenants shall not constitute a Default or Event of Default with respect to such Series under Section 6.1) and the occurrence of any event specified in a supplemental indenture for such Series of Securities or a Board Resolution or an Officer’s Certificate delivered pursuant to Section 2.2.18 and designated as an Event of Default shall not constitute a Default or Event of Default hereunder, with respect to the Securities of such Series, but, except as specified above, the remainder of this Indenture and such Securities will be unaffected thereby; provided that the following conditions shall have been satisfied:

 

(a)           with reference to this Section 8.4, the Issuers have irrevocably deposited or caused to be deposited (except as provided in Section 8.2(c)) with the Trustee as trust funds in trust for the purpose of making the following payments specifically pledged as security for, and dedicated solely to, the benefit of the Holders of such Securities (i) in the case of Securities of such Series denominated in Dollars, cash in Dollars and/or U.S. Government Obligations, or (ii) in the case of Securities of such Series denominated in a Foreign Currency (other than a composite currency), money and/or Foreign Government Obligations, which through the payment of interest and principal in respect thereof in accordance with their terms, will provide (and without reinvestment and assuming no tax liability will be imposed on such Trustee), not later than one day before the due date of any payment of money, an amount in cash, sufficient, in the opinion of a nationally recognized firm of independent certified public accountants or investment bank expressed in a written certification thereof delivered to the Trustee, to pay and discharge each installment of principal (including mandatory sinking fund or analogous payments) of and interest on all the Securities of such Series on the dates such installments of principal or interest are due;

 

(b)           such deposit will not result in a breach or violation of, or constitute a default under, this Indenture or any other agreement or instrument to which either Issuer is a party or by which it is bound;

 

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(c)           no Default or Event of Default with respect to the Securities of such Series shall have occurred and be continuing on the date of such deposit;

 

(d)           the Issuers shall have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel to the effect that (i) the company has received from, or there has been published by, the Internal Revenue Service a ruling, or (ii) since the date of execution of this Indenture, there has been a change in the applicable Federal income tax law, in either case to the effect that, and based thereon such Opinion of Counsel shall confirm, subject to customary exclusions, that the Holders of the Securities of such Series will not recognize income, gain or loss for Federal income tax purposes as a result of such deposit, covenant defeasance and discharge and will be subject to Federal income tax on the same amount and in the same manner and at the same times as would have been the case if such deposit, covenant defeasance and discharge had not occurred;

 

(e)           The Issuers shall have delivered to the Trustee an Officer’s Certificate stating the deposit was not made by the Issuers with the intent of defeating, hindering, delaying or defrauding any other creditors of the Issuers; and

 

(f)            The Issuers shall have delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that all conditions precedent herein provided for relating to the covenant defeasance contemplated by this Section have been complied with.

 

Section 8.5.           Repayment to the Issuers.

 

Subject to applicable abandoned property law, the Trustee and the Paying Agent shall pay to the Issuers upon request any money held by them for the payment of principal and interest that remains unclaimed for two years.  After that, Securityholders entitled to the money must look to the Issuers for payment as general creditors unless an applicable abandoned property law designates another person.

 

Section 8.6.           Reinstatement.

 

If the Trustee or the Paying Agent is unable to apply any money deposited with respect to Securities of any Series in accordance with Section 8.1 by reason of any legal proceeding or by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, the obligations of the Issuers under this Indenture with respect to the Securities of such Series and under the Securities of such Series shall be revived and reinstated as though no deposit had occurred pursuant to Section 8.1 until such time as the Trustee or the Paying Agent is permitted to apply all such money in accordance with Section 8.1; provided, however, that if the Issuers have made any payment of principal of or interest on or any Additional Amounts with respect to any Securities because of the reinstatement of its obligations, the Issuers shall be subrogated to the rights of the Holders of such Securities to receive such payment from the money or U.S. Government Obligations held by the Trustee or Paying Agent after payment in full to the Holders.

 

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ARTICLE IX.
 AMENDMENTS AND WAIVERS

 

Section 9.1.           Without Consent of Holders.

 

The Issuers and the Trustee may amend or supplement this Indenture or the Securities of one or more Series without the consent of any Securityholder:

 

(a)           to cure any ambiguity, defect or inconsistency;

 

(b)           to comply with Article V;

 

(c)           to provide for uncertificated Securities in addition to or in place of certificated Securities;

 

(d)           to add guarantees with respect to Securities of any Series or secure Securities of any Series;

 

(e)           to surrender any of the Issuers’ rights or powers under this Indenture;

 

(f)            to add covenants or events of default for the benefit of the holders of Securities of any Series;

 

(g)           to comply with the applicable procedures of the applicable depositary;

 

(h)           to make any change that does not adversely affect the rights of any Securityholder;

 

(i)            to provide for the issuance of and establish the form and terms and conditions of Securities of any Series as permitted by this Indenture;

 

(j)            to evidence and provide for the acceptance of appointment hereunder by a successor Trustee with respect to the Securities of one or more Series and to add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee; or

 

(k)           to comply with requirements of the SEC in order to effect or maintain the qualification of this Indenture under the TIA.

 

Section 9.2.           With Consent of Holders.

 

The Issuers and the Trustee may enter into a supplemental indenture with the written consent of the Holders of at least a majority in principal amount of the outstanding Securities of each Series affected by such supplemental indenture (including consents obtained in connection with a tender offer or exchange offer for the Securities of such Series), for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Indenture or of any supplemental indenture or of modifying in any manner the rights of the Securityholders of each such Series.  Except as provided in Section 6.13, the 

 

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Holders of at least a majority in principal amount of the outstanding Securities of any Series by notice to the Trustee (including consents obtained in connection with a tender offer or exchange offer for the Securities of such Series) may waive compliance by the Issuers with any provision of this Indenture or the Securities with respect to such Series.

 

It shall not be necessary for the consent of the Holders of Securities under this Section 9.2 to approve the particular form of any proposed supplemental indenture or waiver, but it shall be sufficient if such consent approves the substance thereof.  After a supplemental indenture or waiver under this section becomes effective, the Issuers shall send to the Holders of Securities affected thereby, a notice briefly describing the supplemental indenture or waiver.  Any failure by the Issuers to send such notice, or any defect therein, shall not, however, in any way impair or affect the validity of any such supplemental indenture or waiver.

 

Section 9.3.           Limitations.

 

Without the consent of each Securityholder affected, an amendment or waiver may not:

 

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

 

(b)           reduce the rate of or extend the time for payment of interest (including default interest) on any Security;

 

(c)           reduce the principal or change the Stated Maturity of any Security or reduce the amount of, or postpone the date fixed for, the payment of any sinking fund or analogous obligation;

 

(d)           reduce the principal amount of Discount Securities payable upon acceleration of the maturity thereof;

 

(e)           waive a Default or Event of Default in the payment of the principal of or interest, if any, on any Security (except a rescission of acceleration of the Securities of any Series by the Holders of at least a majority in principal amount of the outstanding Securities of such Series and a waiver of the payment default that resulted from such acceleration);

 

(f)            make the principal of or interest, if any, on any Security payable in any currency other than that stated in the Security;

 

(g)           make any change in Sections 6.8, 6.13 or 9.3 (this sentence); or

 

(h)           waive a redemption payment with respect to any Security, provided that such redemption is made at the Issuers’ option.

 

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Section 9.4.           Compliance with Trust Indenture Act.

 

Every amendment to this Indenture or the Securities of one or more Series shall be set forth in a supplemental indenture hereto that complies with the TIA as then in effect.

 

Section 9.5.           Revocation and Effect of Consents.

 

Until an amendment is set forth in a supplemental indenture or a waiver becomes effective, a consent to it by a Holder of a Security is a continuing consent by the Holder and every subsequent Holder of a Security or portion of a Security that evidences the same debt as the consenting Holder’s Security, even if notation of the consent is not made on any Security.  However, any such Holder or subsequent Holder may revoke the consent as to his Security or portion of a Security if the Trustee receives the notice of revocation before the date of the supplemental indenture or the date the waiver becomes effective.

 

Any amendment or waiver once effective shall bind every Securityholder of each Series affected by such amendment or waiver unless it is of the type described in any of clauses (a) through (h) of Section 9.3.  In that case, the amendment or waiver shall bind each Holder of a Security who has consented to it and every subsequent Holder of a Security or portion of a Security that evidences the same debt as the consenting Holder’s Security.

 

The Issuers may, but shall not be obligated to, fix a record date for the purpose of determining the Holders entitled to give their consent or take any other action described above or required or permitted to be taken pursuant to this Indenture. If a record date is fixed, then notwithstanding the second immediately preceding paragraph, those Persons who were Holders at such record date (or their duly designated proxies), and only those persons, shall be entitled to give such consent or to revoke any consent previously given or take any such action, whether or not such Persons continue to be Holders after such record date. No such consent shall be valid or effective for more than 120 days after such record date.

 

Section 9.6.           Notation on or Exchange of Securities.

 

The Issuers or the Trustee may place an appropriate notation about an amendment or waiver on any Security of any Series thereafter authenticated.  The Issuers in exchange for Securities of that Series may issue and the Trustee shall authenticate upon receipt of an Issuer Order in accordance with Section 2.3 new Securities of that Series that reflect the amendment or waiver.

 

Section 9.7.           Trustee Protected.

 

In executing, or accepting the additional trusts created by, any supplemental indenture permitted by this Article or the modifications thereby of the trusts created by this Indenture, the Trustee shall be entitled to receive, and (subject to Section 7.1) shall be fully protected in relying upon, an Officer’s Certificate or an Opinion of Counsel or both complying with Section 10.4.  The Trustee shall sign all supplemental indentures upon delivery of such an Officer’s Certificate or Opinion of Counsel or both, except that the Trustee need not sign any supplemental indenture that adversely affects its rights, duties, liabilities or immunities under this Indenture.

 

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ARTICLE X.
 MISCELLANEOUS

 

Section 10.1.         Trust Indenture Act Controls.

 

If any provision of this Indenture limits, qualifies, or conflicts with another provision which is required or deemed to be included in this Indenture by the TIA, such required or deemed provision shall control.

 

Section 10.2.         Notices.

 

Any notice or communication by the Issuers or the Trustee to the other, or by a Holder to the Issuers or the Trustee, is duly given if in writing and delivered in person or mailed by first-class mail (registered or certified, return receipt requested), facsimile transmission, email or overnight air courier guaranteeing next day delivery, to the others’ address:

 

if to the Issuers:

 

TransMontaigne Partners L.P.
 1670 Broadway, Suite 3100
 Denver, Colorado  80202
 Attention: Chief Financial Officer
 Telephone: (303) 626-8200

 

with a copy to:

 

Latham & Watkins LLP
 811 Main Street, Suite 3700
 Houston, Texas  77002
 Attention:  Ryan J. Maierson
 Telephone:  (713) 546-7420

 

if to the Trustee:

 

U.S. Bank National Association
 8 Greenway Plaza, Suite 1100 
 Houston, Texas 77046-0892
 Telephone: (713) 212-7576
 Attention: Alejandro Hoyos

 

The Issuers or the Trustee by notice to the other may designate additional or different addresses for subsequent notices or communications.

 

Any notice or communication to a Securityholder shall be sent electronically or by first-class mail to his address shown on the register kept by the Registrar, in accordance with

 

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the procedures of the Depositary.  Failure to send a notice or communication to a Securityholder of any Series or any defect in it shall not affect its sufficiency with respect to other Securityholders of that or any other Series.

 

If a notice or communication is sent or published in the manner provided above, within the time prescribed, it is duly given, whether or not the Securityholder receives it.

 

If the Issuers sends a notice or communication to Securityholders, they shall send a copy to the Trustee and each Agent at the same time.

 

Notwithstanding any other provision of this Indenture or any Security, where this Indenture or any Security provides for notice of any event (including any notice of redemption) to a Holder of a Global Security (whether by mail or otherwise), such notice shall be sufficiently given to the Depositary for such Security (or its designee) pursuant to the customary procedures of such Depositary.

 

Section 10.3.                          Communication by Holders with Other Holders.

 

Securityholders of any Series may communicate pursuant to TIA § 312(b) with other Securityholders of that Series or any other Series with respect to their rights under this Indenture or the Securities of that Series or all Series.  The Issuers, the Trustee, the Registrar and anyone else shall have the protection of TIA § 312(c).

 

Section 10.4.                          Certificate and Opinion as to Conditions Precedent.

 

Upon any request or application by an Issuer to the Trustee to take any action under this Indenture, such Issuer shall furnish to the Trustee:

 

(a)                                 an Officer’s Certificate stating that, in the opinion of the signers, all conditions precedent, if any, provided for in this Indenture relating to the proposed action have been complied with; and

 

(b)                                 an Opinion of Counsel stating that, in the opinion of such counsel, all such conditions precedent have been complied with.

 

Section 10.5.                          Statements Required in Certificate or Opinion.

 

Each certificate or opinion with respect to compliance with a condition or covenant provided for in this Indenture (other than a certificate provided pursuant to TIA § 314(a)(4)) shall comply with the provisions of TIA § 314(e) and shall include:

 

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

 

(b)                                 a brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions contained in such certificate or opinion are based;

 

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(c)                                  a statement that, in the opinion of such person, he has made such examination or investigation as is necessary to enable him to express an informed opinion as to whether or not such covenant or condition has been complied with; and

 

(d)                                 a statement as to whether or not, in the opinion of such person, such condition or covenant has been complied with.

 

Section 10.6.                          Rules by Trustee and Agents.

 

The Trustee may make reasonable rules for action by or a meeting of Securityholders of one or more Series.  Any Agent may make reasonable rules and set reasonable requirements for its functions.

 

Section 10.7.                          Legal Holidays.

 

Unless otherwise provided by Board Resolution, Officer’s Certificate or supplemental indenture hereto for a particular Series, a “Legal Holiday” is any day that is not a Business Day.  If a payment date is a Legal Holiday at a place of payment, payment may be made at that place on the next succeeding day that is not a Legal Holiday, and no interest shall accrue for the intervening period.

 

Section 10.8.                          No Recourse Against Others.

 

None of the General Partner, a director, officer, employee or stockholder (past or present), as such, of the General Partner or the Partnership’s unitholders shall have any liability for any obligations of the Issuers under the Securities or the Indenture or for any claim based on, in respect of or by reason of such obligations or their creation.  Each Securityholder by accepting a Security waives and releases all such liability.  The waiver and release are part of the consideration for the issue of the Securities.

 

Section 10.9.                          Counterparts.

 

This Indenture may be executed in any number of counterparts and by the parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. The exchange of copies of this Indenture and of signature pages by facsimile or PDF transmission shall constitute effective execution and delivery of this Indenture as to the parties hereto and may be used in lieu of the original Indenture for all purposes. Signatures of the parties hereto transmitted by facsimile or PDF shall be deemed to be their original signatures for all purposes.

 

Section 10.10.                   Governing Law.

 

THIS INDENTURE AND THE SECURITIES, INCLUDING ANY CLAIM OR CONTROVERSY ARISING OUT OF OR RELATING TO THE INDENTURE OR THE SECURITIES, SHALL BE GOVERNED BY THE LAWS OF THE STATE OF NEW YORK.

 

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Section 10.11.                   No Adverse Interpretation of Other Agreements.

 

This Indenture may not be used to interpret another indenture, loan or debt agreement of either Issuer or a Subsidiary of the Partnership.  Any such indenture, loan or debt agreement may not be used to interpret this Indenture.

 

Section 10.12.                   Successors.

 

All agreements of an Issuer in this Indenture and the Securities shall bind its successor.  All agreements of the Trustee in this Indenture shall bind its successor.

 

Section 10.13.                   Severability.

 

In case any provision in this Indenture or in the Securities shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby.

 

Section 10.14.                   Table of Contents, Headings, Etc.

 

The Table of Contents, Cross Reference Table, and headings of the Articles and Sections of this Indenture have been inserted for convenience of reference only, are not to be considered a part hereof, and shall in no way modify or restrict any of the terms or provisions hereof.

 

Section 10.15.                   Securities in a Foreign Currency.

 

Unless otherwise specified in a Board Resolution, a supplemental indenture hereto or an Officer’s Certificate delivered pursuant to Section 2.2 of this Indenture with respect to a particular Series of Securities, whenever for purposes of this Indenture any action may be taken by the Holders of a specified percentage in aggregate principal amount of Securities of all Series or all Series affected by a particular action at the time outstanding and, at such time, there are outstanding Securities of any Series which are denominated in more than one currency, then the principal amount of Securities of such Series which shall be deemed to be outstanding for the purpose of taking such action shall be determined by converting any such other currency into a currency that is designated upon issuance of any particular Series of Securities.  Unless otherwise specified in a Board Resolution, a supplemental indenture hereto or an Officer’s Certificate delivered pursuant to Section 2.2 of this Indenture with respect to a particular Series of Securities, such conversion shall be at the spot rate for the purchase of the designated currency as published in The Financial Times in the “Currency Rates” section (or, if The Financial Times is no longer published, or if such information is no longer available in The Financial Times, such source as may be selected in good faith by the Issuers) on any date of determination.  The provisions of this paragraph shall apply in determining the equivalent principal amount in respect of Securities of a Series denominated in currency other than Dollars in connection with any action taken by Holders of Securities pursuant to the terms of this Indenture.

 

All decisions and determinations provided for in the preceding paragraph shall, in the absence of manifest error, to the extent permitted by law, be conclusive for all purposes and irrevocably binding upon the Trustee and all Holders.

 

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Section 10.16.                   Judgment Currency.

 

The Issuers agree, to the fullest extent that they may effectively do so under applicable law, that (a) if for the purpose of obtaining judgment in any court it is necessary to convert the sum due in respect of the principal of or interest or other amount on the Securities of any Series (the “Required Currency”) into a currency in which a judgment will be rendered (the “Judgment Currency”), the rate of exchange used shall be the rate at which in accordance with normal banking procedures the Trustee could purchase in The City of New York the Required Currency with the Judgment Currency on the day on which final unappealable judgment is entered, unless such day is not a New York Banking Day, then the rate of exchange used shall be the rate at which in accordance with normal banking procedures the Trustee could purchase in The City of New York the Required Currency with the Judgment Currency on the New York Banking Day preceding the day on which final unappealable judgment is entered and (b) their obligations under this Indenture to make payments in the Required Currency (i) shall not be discharged or satisfied by any tender, any recovery pursuant to any judgment (whether or not entered in accordance with subsection (a)), in any currency other than the Required Currency, except to the extent that such tender or recovery shall result in the actual receipt, by the payee, of the full amount of the Required Currency expressed to be payable in respect of such payments, (ii) shall be enforceable as an alternative or additional cause of action for the purpose of recovering in the Required Currency the amount, if any, by which such actual receipt shall fall short of the full amount of the Required Currency so expressed to be payable, and (iii) shall not be affected by judgment being obtained for any other sum due under this Indenture.  For purposes of the foregoing, “New York Banking Day” means any day except a Saturday, Sunday or a legal holiday in The City of New York on which banking institutions are authorized or required by law, regulation or executive order to close.

 

Section 10.17.                   Force Majeure.

 

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

 

ARTICLE XI.
 SINKING FUNDS

 

Section 11.1.                          Applicability of Article.

 

The provisions of this Article shall be applicable to any sinking fund for the retirement of the Securities of a Series if so provided by the terms of such Securities pursuant to  Section 2.2 and except as otherwise permitted or required by any form of Security of such Series issued pursuant to this Indenture.

 

44

 

The minimum amount of any sinking fund payment provided for by the terms of the Securities of any Series is herein referred to as a “mandatory sinking fund payment” and any other amount provided for by the terms of Securities of such Series is herein referred to as an “optional sinking fund payment.”  If provided for by the terms of Securities of any Series, the cash amount of any sinking fund payment may be subject to reduction as provided in Section 11.2.  Each sinking fund payment shall be applied to the redemption of Securities of any Series as provided for by the terms of the Securities of such Series.

 

Section 11.2.                          Satisfaction of Sinking Fund Payments with Securities.

 

The Issuers may, in satisfaction of all or any part of any sinking fund payment with respect to the Securities of any Series to be made pursuant to the terms of such Securities (1) deliver outstanding Securities of such Series to which such sinking fund payment is applicable (other than any of such Securities previously called for mandatory sinking fund redemption) and (2) apply as credit Securities of such Series to which such sinking fund payment is applicable and which have been repurchased by the Issuers or redeemed either at the election of the Issuers pursuant to the terms of such Series of Securities (except pursuant to any mandatory sinking fund) or through the application of permitted optional sinking fund payments or other optional redemptions pursuant to the terms of such Securities, provided that such Securities have not been previously so credited.  Such Securities shall be received by the Trustee, together with an Officer’s Certificate with respect thereto, not later than 15 days prior to the date on which the Trustee begins the process of selecting Securities for redemption, and shall be credited for such purpose by the Trustee at the price specified in such Securities for redemption through operation of the sinking fund and the amount of such sinking fund payment shall be reduced accordingly.  If as a result of the delivery or credit of Securities in lieu of cash payments pursuant to this Section 11.2, the principal amount of Securities of such Series to be redeemed in order to exhaust the aforesaid cash payment shall be less than $100,000, the Trustee need not call Securities of such Series for redemption, except upon receipt of an Issuer Order that such action be taken, and such cash payment shall be held by the Trustee or a Paying Agent and applied to the next succeeding sinking fund payment, provided, however, that the Trustee or such Paying Agent shall from time to time upon receipt of an Issuer Order pay over and deliver to the Issuers any cash payment so being held by the Trustee or such Paying Agent upon delivery by the Issuers to the Trustee of Securities of that Series purchased by the Issuers having an unpaid principal amount equal to the cash payment required to be released to the Issuers.

 

Section 11.3.                          Redemption of Securities for Sinking Fund.

 

Not less than 45 days (unless otherwise indicated in the Board Resolution, supplemental indenture hereto or Officer’s Certificate in respect of a particular Series of Securities) prior to each sinking fund payment date for any Series of Securities, the Issuers will deliver to the Trustee an Officer’s Certificate specifying the amount of the next ensuing mandatory sinking fund payment for that Series pursuant to the terms of that Series, the portion thereof, if any, which is to be satisfied by payment of cash and the portion thereof, if any, which is to be satisfied by delivering and crediting of Securities of that Series pursuant to Section 11.2, and the optional amount, if any, to be added in cash to the next ensuing mandatory sinking fund payment, and the Issuers shall thereupon be obligated to pay the amount therein specified.  Not less than 30 days (unless otherwise indicated in the Board Resolution, Officer’s Certificate or 

 

45

 

supplemental indenture in respect of a particular Series of Securities) before each such sinking fund payment date the Securities to be redeemed upon such sinking fund payment date will be selected in the manner specified in Section 3.2 and the Issuers shall send or cause to be sent a notice of the redemption thereof to be given in the name of and at the expense of the Issuers in the manner provided in and in accordance with Section 3.3.  Such notice having been duly given, the redemption of such Securities shall be made upon the terms and in the manner stated in Sections 3.4, 3.5 and 3.6.

 

[Signature page follows.]

 

46

 

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

 

	
 
    	
TransMontaigne Partners   L.P.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
TransMontaigne GP   L.L.C.,
    
	
 
    	
 
    	
its general partner
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Robert T. Fuller
    
	
 
    	
 
    	
Name:
    
	
 
    	
 
    	
Its: Executive Vice   President, Chief Financial Officer
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
TLP Finance Corp.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Robert T. Fuller
    
	
 
    	
 
    	
Name:
    
	
 
    	
 
    	
Its: Executive Vice   President, Chief Financial Officer
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
U.S. Bank National   Association, as Trustee
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Robert T. Fuller
    
	
 
    	
 
    	
Name:
    
	
 
    	
 
    	
Its: Executive Vice   President, Chief Financial Officer
    

 

[Signature Page to Indenture]

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