Document:

Form of Amendment No. 1 to Credit Agreement, dated as of February 25, 2011

 Exhibit 10.1 
 AMENDMENT NO. 1, dated as of February 25, 2011 (this “Amendment”), to the Credit Agreement dated as of July 29, 2010, among CEDAR FAIR, L.P., a Delaware limited
partnership (the “U.S. Borrower”), MAGNUM MANAGEMENT CORPORATION, an Ohio corporation (the “U.S. Co-Borrower”), CANADA’S WONDERLAND COMPANY, a Nova Scotia unlimited liability company (the “Canadian
Borrower” and, collectively with the U.S. Borrower and the U.S. Co-Borrower, the “Borrowers” and, individually, a “Borrower”), the several banks and other financial institutions or entities from time to
time parties to the Credit Agreement (the “Lenders”), the Issuing Lenders and Swing Line Lenders party thereto and JPMORGAN CHASE BANK, N.A., as Administrative Agent (the “Administrative Agent”) and as collateral
agent (as amended, restated, modified and supplemented from time to time, the “Credit Agreement”); capitalized terms used and not otherwise defined herein shall have the meanings assigned to such terms in the Credit Agreement.

 WHEREAS, the Borrowers desire to amend the Credit Agreement on the terms set forth herein; 

WHEREAS, Section 11.1 of the Credit Agreement provides that the relevant Loan Parties and the Required Lenders may amend the Credit
Agreement and the other Loan Documents for certain purposes including to permit Additional Extensions of Credit to be included in the Credit Agreement; 
 WHEREAS, (i) each Amendment No. 1 Consenting Lender (as defined in Exhibit A) has agreed, on the terms and conditions set forth herein, to have the entire principal amount of its outstanding
U.S. Term Loan, if any, converted into a like principal amount of a U.S. Term-1 Loan (as defined in Exhibit A) effective as of the Amendment No. 1 Effective Date (as defined below) and (ii) if not all U.S. Term Lenders are Amendment
No. 1 Consenting Lenders, the Additional U.S. Term-1 Lender has agreed to make an additional U.S. Term-1 Loan in a principal amount equal to the principal amount of U.S. Term Loans held on the Amendment No. 1 Effective Date by Lenders that
are not Amendment No.1 Consenting Lenders, the proceeds of which shall be applied to repay in full the U.S. Term Loans of such non-consenting Lenders; 
 NOW, THEREFORE, in consideration of the premises contained herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending
to be legally bound hereby, agree as follows: 
 Section 1. Amendment. The Credit Agreement is, effective as
of the Amendment No. 1 Effective Date (as defined below), hereby amended to delete the stricken text (indicated textually in the same manner as the following example: stricken text) and to add the
double-underlined text (indicated textually in the same manner as the following example: double-underlined text) as set forth in the pages of the Credit Agreement attached as Exhibit
A hereto. The Lenders hereby also consent to such amendments to the Security Documents as are contemplated by the Credit Agreement (as amended hereby). Any previously issued Notes, if any, evidencing Converted U.S. Term Loans are amended to
reflect the terms and conditions evidencing the U.S. Term-1 Loans. 
 Section 2. Representations and Warranties, No
Default. The Borrowers hereby represent and warrant that as of the Amendment No. 1 Effective Date, after giving effect 

 
to the amendments set forth in this Amendment, (i) no Default or Event of Default exists and is continuing and (ii) all representations and warranties contained in the Credit Agreement
are true and correct in all material respects on and as of the date hereof, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they were true and correct in all material respects as of
such earlier date (provided that representations and warranties that are qualified by materiality are true and correct (after giving effect to any qualification therein) in all respects on and as of the date hereof). 

Section 3. Effectiveness. Section 1 of this Amendment shall become effective on the date (such date, if
any, the “Amendment No. 1 Effective Date”) that the following conditions have been satisfied: 
 (i) Consents. The Administrative Agent shall have received executed signature pages hereto from Lenders constituting the Required Lenders and each Loan Party; 

(ii) Additional U.S. Term-1 Joinder Agreement. The Administrative Agent, the Borrowers and the Additional U.S.
Term-1 Lender (as defined in Exhibit A) shall have entered into the Additional U.S. Term-1 Joinder Agreement; 

(iii) Fees. J.P. Morgan Securities LLC shall have received all fees required to be paid, and all expenses for which
invoices have been presented (including the reasonable fees and expenses of legal counsel), on or before the Amendment No. 1 Effective Date. 
 (iv) Legal Opinions. The Administrative Agent shall have received the following executed legal opinions: 
 (1) the legal opinion of Simpson Thacher & Bartlett LLP, counsel to Cedar Fair LP and its Subsidiaries; 
 (2) the legal opinion of Squire, Sanders & Dempsey L.L.P., Ohio counsel to Cedar Fair LP and its Subsidiaries; 

(3) the legal opinion of Fasken Martineau DuMoulin LLP, Canadian counsel to Cedar Fair LP and its Subsidiaries;

 (4) the legal opinion of Warner Norcross & Judd LLP, Michigan counsel to Cedar Fair LP and its
Subsidiaries; and 
 (5) the legal opinion of McInnes Cooper, Nova Scotia counsel to Cedar Fair LP and its
Subsidiaries. 
 Each such legal opinion shall cover such other matters incident to the transactions contemplated by this
Amendment as the Administrative Agent may reasonably require. 

  
 -2-

 (v) Flood Hazard Determinations and Flood Insurance. The
Administrative Agent shall have received (A) a completed “Life-of-Loan” Federal Emergency Management Agency Standard Flood Hazard Determination with respect to each Mortgaged Property (together with a notice about special flood hazard
area status and flood disaster assistance) (each a “Flood Notice”) and (B) if any Mortgaged Property is located in a special flood hazard area, a Flood Notice duly executed by the Borrowers and each Loan Party relating thereto,
together with evidence of flood insurance as required by applicable law and otherwise in form and substance reasonably acceptable to the Administrative Agent. 
 Section 4. Post-Effectiveness Covenant. 
 Not later than 60 days
after the Amendment No. 1 Effective Date (or such later date as to which the Administrative Agent may agree), the Loan Parties shall take such actions and deliver such documentation with respect to the Mortgaged Properties as the Administrative
Agent shall reasonably request (including, without limitation, if requested, (i) entering into amendments with respect to any existing Mortgages, (ii) obtaining title datedown endorsements with respect to any existing Title Policies,
(iii) delivering customary opinions of counsel with respect to any Mortgaged Property, in each case in form and substance reasonably acceptable to the Administrative Agent) in order to ensure the Mortgages continue to secure all Obligations
after giving effect to this Amendment with the same priority as was the case prior to giving effect to this Amendment and otherwise to confirm the enforceability, validity and perfection of the Liens in favor of the Secured Parties and
(iv) obtaining a copy of, or a certificate as to coverage under, the insurance policies required by Section 7.5 of the Credit Agreement) and the applicable provisions of the Security Documents, each of which shall be endorsed or
otherwise amended to include a “standard” or “New York” lender’s loss payable or mortgagee endorsement (as applicable) and shall name the Administrative Agent, on behalf of the Secured Parties, as additional insured, in form
and substance satisfactory to the Administrative Agent. 
 Section 5. Counterparts. This Amendment may
be executed in any number of counterparts and by different parties hereto on separate counterparts, each of which when so executed and delivered shall be deemed to be an original, but all of which when taken together shall constitute a single
instrument. Delivery of an executed counterpart of a signature page of this Amendment by facsimile or any other electronic transmission shall be effective as delivery of a manually executed counterpart hereof. 

Section 6. Applicable Law. THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH,
THE LAW OF THE STATE OF NEW YORK. 
 Section 7. Headings. The headings of this Amendment are for purposes
of reference only and shall not limit or otherwise affect the meaning hereof. 
 Section 8. Effect of
Amendment. Except as expressly set forth herein, (i) this Amendment shall not by implication or otherwise limit, impair, constitute a waiver of or 

  
 -3-

 
otherwise affect the rights and remedies of the Lenders, the Administrative Agent, any other Agent or the Issuing Lenders, in each case under the Credit Agreement or any other Loan Document, and
(ii) shall not alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in the Credit Agreement or any other provision of either such agreement or any other Loan Document. Each and
every term, condition, obligation, covenant and agreement contained in the Credit Agreement or any other Loan Document is hereby ratified and re-affirmed in all respects and shall continue in full force and effect. Each Loan Party reaffirms its
obligations under the Loan Documents to which it is party and the validity of the Liens granted by it pursuant to the Security Documents. This Amendment shall constitute a Loan Document for purposes of the Credit Agreement and from and after the
Amendment No. 1 Effective Date, all references to the Credit Agreement in any Loan Document and all references in the Credit Agreement to “this Agreement”, “hereunder”, “hereof” or words of like import referring to
the Credit Agreement, shall, unless expressly provided otherwise, refer to the Credit Agreement as amended by this Amendment. Each of the Loan Parties hereby consents to this Amendment and confirms that all obligations of such Loan Party under the
Loan Documents to which such Loan Party is a party shall continue to apply to the Credit Agreement as amended hereby. 

  
 -4-

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

			
	 CEDAR FAIR, L.P.

By Cedar Fair Management Inc., its General Partner

		
	 By:
	 	 /s/ Richard L. Kinzel

		 	Name: Richard L. Kinzel
		 	Title: President and Chief Executive Officer
	
	 MAGNUM MANAGEMENT CORPORATION

		
	 By:
	 	 /s/ Richard L. Kinzel

		 	Name: Richard L. Kinzel
		 	Title: President and Chief Executive Officer
	
	 CANADA’S WONDERLAND COMPANY

		
	 By:
	 	 /s/ Richard L. Kinzel

		 	Name: Richard L. Kinzel
		 	Title: President
	
	 Solely for purposes of Section 8 of this Amendment:

	
	 BOECKLING, L.P.

	
	 By: Magnum Management Corporation, its General Partner

		
	 By:
	 	 /s/ Peter J. Crage

		 	Name: Peter J. Crage
		 	 Title: Executive Vice President & Chief
 Financial Officer

 [Signature Page to Amendment]

 
			
	 CEDAR FAIR

	
	 By: Magnum Management Corporation, its
 Managing General Partner

		
	 By:
	 	 /s/ Peter J. Crage

		 	Name: Peter J. Crage
		 	Title: Executive Vice President & Chief Financial Officer
	
	 CEDAR FAIR SOUTHWEST INC.

		
	 By:
	 	 /s/ Peter J. Crage

		 	Name: Peter J. Crage
		 	Title: Executive Vice President & Chief Financial Officer
	
	 CEDAR POINT OF MICHIGAN, INC.

		
	 By:
	 	 /s/ Peter J. Crage

		 	Name: Peter J. Crage
		 	Title: Executive Vice President & Chief Financial Officer
	
	 CEDAR POINT, INC.

		
	 By:
	 	 /s/ Peter J. Crage

		 	Name: Peter J. Crage
		 	Title: Executive Vice President & Chief Financial Officer
	
	 KINGS ISLAND COMPANY

		
	 By:
	 	 /s/ Peter J. Crage

		 	Name: Peter J. Crage
		 	Title: Executive Vice President & Chief Financial Officer

[Signature Page to Amendment] 

 
			
	
	 KNOTT’S BERRY FARM

	
	 By: Cedar Fair L.P., its General Partner

		
	 By:
	 	 /s/ Peter J. Crage

		 	Name: Peter J. Crage
		 	Title: Executive Vice President & Chief Financial Officer
	
	 MICHIGAN’S ADVENTURE, INC.

		
	 By:
	 	 /s/ Peter J. Crage

		 	Name: Peter J. Crage
		 	Title: Executive Vice President & Chief Financial Officer
	
	 WESTERN ROW PROPERTIES, INC.

		
	 By:
	 	 /s/ Peter J. Crage

		 	Name: Peter J. Crage
		 	Title: Executive Vice President & Chief Financial Officer
	
	 WONDERLAND COMPANY INC.

		
	 By:
	 	 /s/ Peter J. Crage

		 	Name: Peter J. Crage
		 	Title: Executive Vice President & Chief Financial Officer

 [Signature Page to Amendment] 

 
			
	 JPMORGAN CHASE BANK, N.A., as
Administrative Agent and a Lender

		
	By:	 	 /s/ Christophe Vohmann

		 	Name: Christophe Vohmann
		 	Title: Executive Director

  
 [Signature
Page to Amendment] 

 Exhibit A 
  

 
  

$1,440,000,000 

CREDIT AGREEMENT 

among 
 CEDAR
FAIR, L.P., 
 as U.S. Borrower, 
 MAGNUM MANAGEMENT CORPORATION, 
 as U.S. Co-Borrower, 

CANADA’S WONDERLAND COMPANY, 
 as Canadian Borrower, 
 The Several Lenders 

from Time to Time Parties Hereto, 
 KEYBANK NATIONAL ASSOCIATION, WELLS FARGO BANK, N.A., 
 UBS LOAN FINANCE LLC and
FIFTH THIRD BANK, 
 as Co-Syndication Agents, 
 and 
 JPMORGAN CHASE BANK, N.A., 

as Administrative Agent and Collateral Agent 
 and 
 J.P. MORGAN SECURITIES LLC and KEYBANK NATIONAL ASSOCIATION, 

as Co-Lead Arrangers and Bookrunners 
 and 
 J.P. MORGAN SECURITIES LLC, 

As Sole Lead Arranger and Bookrunner for Amendment No. 1 
 Dated as of July 29, 2010, 
 and as Amended by Amendment No. 1 on
February 25, 2011 
  
  

 

 TABLE OF CONTENTS 

 

							
	 	    	 	  	Page	 
		
	 SECTION 1. DEFINITIONS
	  	 	1	  
			
	 1.1.
	    	Defined Terms	  	 	1	  
	 1.2.
	    	Other Definitional Provisions	  	 	31	  
	 1.3.
	    	Joint and Several Liability of Borrowers for Term Loans	  	 	32	  
		
	 SECTION 2. AMOUNT AND TERMS OF TERM COMMITMENTS
	  	 	32	  
			
	 2.1.
	    	Term Commitments	  	 	32	  
	 2.2.
	    	Procedure for Term Loan Borrowing	  	 	32	  
	 2.3.
	    	Repayment of U.S. Term-1 Loans	  	 	33	  
	 2.4.
	    	Refinancing Term Loans	  	 	34	  
	 2.5.
	    	Extended Term Loans	  	 	35	  
	 2.6.
	    	Incremental Commitments	  	 	36	  
		
	 SECTION 3. AMOUNT AND TERMS OF REVOLVING COMMITMENTS
	  	 	37	  
			
	 3.1.
	    	Revolving Commitments	  	 	37	  
	 3.2.
	    	Procedure for Revolving Loan Borrowing	  	 	38	  
	 3.3.
	    	Swing Line Sub Commitment	  	 	42	  
	 3.4.
	    	Procedure for Swing Line Borrowing; Refunding of Swing Line Loans	  	 	43	  
	 3.5.
	    	Commitment Fees, etc	  	 	45	  
	 3.6.
	    	Reduction or Termination of Revolving Commitments	  	 	46	  
	 3.7.
	    	L/C Commitment	  	 	46	  
	 3.8.
	    	Procedure for Issuance of Letter of Credit	  	 	47	  
	 3.9.
	    	Fees and Other Charges	  	 	48	  
	 3.10.
	    	L/C Participations	  	 	49	  
	 3.11.
	    	Reimbursement Obligation of the U.S. Borrower and Canadian Borrower	  	 	51	  
	 3.12.
	    	Obligations Absolute	  	 	52	  
	 3.13.
	    	Letter of Credit Payments	  	 	52	  
	 3.14.
	    	Applications	  	 	52	  
	 3.15.
	    	Replacement Revolving Commitments	  	 	52	  
		
	 SECTION 4. GENERAL PROVISIONS APPLICABLE TO LOANS AND LETTERS OF CREDIT
	  	 	53	  
			
	 4.1.
	    	Optional Prepayments	  	 	53	  
	 4.2.
	    	Mandatory Prepayments and Revolving Commitment Reductions	  	 	56	  
	 4.3.
	    	Conversion and Continuation Options	  	 	57	  
	 4.4.
	    	Limitations on Eurodollar Tranches	  	 	58	  
	 4.5.
	    	Interest Rates and Payment Dates	  	 	59	  
	 4.6.
	    	Computation of Interest and Fees	  	 	60	  
	 4.7.
	    	Inability To Determine Interest Rate	  	 	60	  
	 4.8.
	    	Pro Rata Treatment and Payments	  	 	61	  
	 4.9.
	    	Requirements of Law	  	 	62	  
	 4.10.
	    	Taxes	  	 	63	  
	 4.11.
	    	Break Funding Payments	  	 	65	  
	 4.12.
	    	Change of Lending Office	  	 	66	  
	 4.13.
	    	Replacement of Lenders	  	 	66	  
	 4.14.
	    	Evidence of Debt	  	 	66	  
	 4.15.
	    	Illegality	  	 	67	  
	 4.16.
	    	Defaulting Lenders	  	 	67	  
	 4.17.
	    	Soft-Call Premium	  	 	69	  

  
 -i-

							
	 	    	 	  	Page	 
		
	 SECTION 5. REPRESENTATIONS AND WARRANTIES
	  	 	69	  
			
	 5.1.
	    	Financial Condition	  	 	69	  
	 5.2.
	    	No Change	  	 	70	  
	 5.3.
	    	Corporate Existence; Compliance with Law	  	 	70	  
	 5.4.
	    	Power; Authorization; Enforceable Obligations	  	 	70	  
	 5.5.
	    	No Legal Bar	  	 	70	  
	 5.6.
	    	Litigation	  	 	70	  
	 5.7.
	    	No Default	  	 	70	  
	 5.8.
	    	Ownership of Property; Liens	  	 	71	  
	 5.9.
	    	Intellectual Property	  	 	71	  
	 5.10.
	    	Taxes	  	 	71	  
	 5.11.
	    	Federal Regulations	  	 	71	  
	 5.12.
	    	Labor Matters	  	 	71	  
	 5.13.
	    	Pension and Benefit Plans	  	 	71	  
	 5.14.
	    	Investment Company Act; Other Regulations	  	 	72	  
	 5.15.
	    	Subsidiaries	  	 	72	  
	 5.16.
	    	Use of Proceeds	  	 	72	  
	 5.17.
	    	Environmental Matters	  	 	72	  
	 5.18.
	    	Accuracy of Information, etc	  	 	73	  
	 5.19.
	    	Security Documents	  	 	73	  
	 5.20.
	    	Solvency	  	 	74	  
	 5.21.
	    	Regulation H	  	 	74	  
	 5.22.
	    	Condition of the Property	  	 	74	  
	 5.23.
	    	No Condemnation	  	 	74	  
	 5.24.
	    	Operating Permits	  	 	74	  
	 5.25.
	    	Public Access	  	 	74	  
	 5.26.
	    	Anti Terrorism Laws	  	 	75	  
		
	 SECTION 6. CONDITIONS PRECEDENT
	  	 	75	  
			
	 6.1.
	    	Closing Date	  	 	75	  
	 6.2.
	    	Conditions to Each Extension of Credit	  	 	77	  
		
	 SECTION 7. AFFIRMATIVE COVENANTS
	  	 	77	  
			
	 7.1.
	    	Financial Statements	  	 	77	  
	 7.2.
	    	Certificates; Other Information	  	 	77	  
	 7.3.
	    	Payment of Obligations	  	 	79	  
	 7.4.
	    	Maintenance of Existence; Compliance	  	 	79	  
	 7.5.
	    	Maintenance of Property; Insurance	  	 	79	  
	 7.6.
	    	Inspection of Property; Books and Records; Discussions	  	 	79	  
	 7.7.
	    	Notices	  	 	79	  
	 7.8.
	    	Environmental Laws	  	 	80	  
	 7.9.
	    	Interest Rate Protection	  	 	80	  
	 7.10.
	    	Additional Collateral, etc	  	 	80	  
	 7.11.
	    	Further Assurances	  	 	83	  
	 7.12.
	    	Clean Down	  	 	83	  
		
	 SECTION 8. NEGATIVE COVENANTS
	  	 	83	  
			
	 8.1.
	    	Financial Condition Covenants	  	 	83	  
	 8.2.
	    	Indebtedness	  	 	84	  
	 8.3.
	    	Liens	  	 	85	  
	 8.4.
	    	Fundamental Changes	  	 	86	  

  
 -ii-

							
	 	    	 	  	Page	 
			
	 8.5.
	    	Disposition of Property	  	 	86	  
	 8.6.
	    	Restricted Payments	  	 	87	  
	 8.7.
	    	Investments	  	 	88	  
	 8.8.
	    	Optional Payments of Certain Debt	  	 	89	  
	 8.9.
	    	Transactions with Affiliates	  	 	89	  
	 8.10.
	    	Sales and Leasebacks	  	 	89	  
	 8.11.
	    	Hedge Agreements	  	 	90	  
	 8.12.
	    	Changes in Fiscal Periods	  	 	90	  
	 8.13.
	    	Negative Pledge Clauses	  	 	90	  
	 8.14.
	    	Clauses Restricting Subsidiary Distributions	  	 	90	  
	 8.15.
	    	Lines of Business	  	 	90	  
		
	 SECTION 9. EVENTS OF DEFAULT
	  	 	90	  
		
	 SECTION 10. THE AGENTS
	  	 	93	  
			
	 10.1.
	    	Appointment	  	 	93	  
	 10.2.
	    	Delegation of Duties	  	 	93	  
	 10.3.
	    	Exculpatory Provisions	  	 	93	  
	 10.4.
	    	Reliance by Agents	  	 	93	  
	 10.5.
	    	Notice of Default	  	 	94	  
	 10.6.
	    	Non-Reliance on Agents and Other Lenders	  	 	94	  
	 10.7.
	    	Indemnification	  	 	94	  
	 10.8.
	    	Withholding Tax	  	 	95	  
	 10.9.
	    	Agent in Its Individual Capacity	  	 	95	  
	 10.10.
	    	Successor Administrative Agent	  	 	95	  
	 10.11.
	    	Agents Generally	  	 	95	  
	 10.12.
	    	The Lead Arrangers	  	 	96	  
	 10.13.
	    	No Reliance on Administrative Agent’s Customer Identification Program	  	 	96	  
	 10.14.
	    	USA Patriot Act	  	 	96	  
		
	 SECTION 11. MISCELLANEOUS
	  	 	96	  
			
	 11.1.
	    	Amendments and Waivers	  	 	96	  
	 11.2.
	    	Notices	  	 	98	  
	 11.3.
	    	No Waiver; Cumulative Remedies	  	 	99	  
	 11.4.
	    	Survival of Representations and Warranties	  	 	99	  
	 11.5.
	    	Payment of Expenses	  	 	99	  
	 11.6.
	    	Successors and Assigns; Participations and Assignments	  	 	100	  
	 11.7.
	    	Adjustments; Set off	  	 	103	  
	 11.8.
	    	Counterparts	  	 	103	  
	 11.9.
	    	Severability	  	 	104	  
	 11.10.
	    	Integration	  	 	104	  
	 11.11.
	    	GOVERNING LAW	  	 	104	  
	 11.12.
	    	Submission to Jurisdiction; Waivers	  	 	104	  
	 11.13.
	    	Acknowledgments	  	 	104	  
	 11.14.
	    	Releases of Guarantees and Liens	  	 	105	  
	 11.15.
	    	Confidentiality	  	 	105	  
	 11.16.
	    	WAIVERS OF JURY TRIAL	  	 	105	  
	 11.17.
	    	Interest Rate Limitation	  	 	106	  
	 11.18.
	    	Canadian Borrower	  	 	106	  
	 11.19.
	    	Judgment Currency	  	 	106	  

  
 -iii-

 SCHEDULES: 
  

			
	 1.1
	 	Mortgaged Property
	 1.2
	 	Commitments
	 3.7
	 	Existing Letters of Credit
	 5.4
	 	Consents, Authorizations, Filings and Notices
	 5.15
	 	Subsidiaries
	 5.19(a)
	 	UCC Filing Jurisdictions
	 5.19(b)
	 	Mortgage Filing Jurisdictions
	 8.2(d)
	 	Existing Indebtedness
	 8.3(f)
	 	Existing Liens

 EXHIBITS: 

 

			
	 A
	 	[Reserved]
	 B
	 	Form of Assignment and Assumption
	 C
	 	Form of Compliance Certificate
	 D
	 	Form of Guarantee and Collateral Agreement
	 E
	 	Form of Mortgage
	 F
	 	Forms of Non-Bank Tax Certificates
	 G-1
	 	Form of Term Note
	 G-2
	 	Form of U.S. Revolving Note
	 G-3
	 	Form of Canadian Revolving Note
	 H
	 	Form of Closing Date Certificate
	 I-1
	 	Form of Legal Opinion of Simpson Thacher & Bartlett LLP
	 I-2
	 	Form of Legal Opinion of Squire, Sanders & Dempsey L.L.P. (Ohio)
	 I-3
	 	Form of Legal Opinion of Fasken Martineau DuMoulin LLP
	 I-4
	 	Form of Legal Opinion of Warner Norcross & Judd LLP (Michigan)
	 I-5
	 	Form of Legal Opinion of McInnes Cooper (Nova Scotia)
	 J
	 	Form of Borrowing Notice
	 K
	 	Form of Discount Note
	 L
	 	Form of Debenture (Canada)
	 M
	 	Form of Security Agreement (Canada)
	 N
	 	Form of Notice of Security Interest in IP (Canada)
	 O
	 	Form of Canadian Guarantee Agreement
	 P
	 	Form of First Lien Intercreditor Agreement
	 Q
	 	Form of Discounted Prepayment Option Notice
	 R
	 	Form of Lender Participation Notice
	 S
	 	Form of Discounted Voluntary Prepayment Notice

  
 -iv-

 CREDIT AGREEMENT, dated as of July 29, 2010 (as amended on February 25, 2011,
this “Agreement”), among CEDAR FAIR, L.P., a Delaware limited partnership (the “U.S. Borrower” or “Cedar Fair LP”), MAGNUM MANAGEMENT CORPORATION, an Ohio corporation (the “U.S.
Co-Borrower”), CANADA’S WONDERLAND COMPANY, a Nova Scotia unlimited liability company (the “Canadian Borrower” and together with the U.S. Borrower and the U.S. Co-Borrower, collectively, the
“Borrowers” and, individually, a “Borrower”), the several banks and other financial institutions or entities from time to time parties to this Agreement (the “Lenders”), the Issuing Lenders and
Swing Line Lenders party hereto and JPMORGAN CHASE BANK, N.A., as administrative agent (in such capacity, and together with its successors, the “Administrative Agent”) and as collateral agent (in such capacity, and together with its
successors, the “Collateral Agent”). 
 WHEREAS, in connection with the consummation of the Refinancing (as
defined herein), the Borrowers have requested the Lenders to extend credit in the form of (a) Term Loans on the Closing Date, in an aggregate principal amount not in excess of $1,175,000,000, and (b) Revolving Loans, Swing Line Loans and
Letters of Credit at any time and from time to time prior to the Revolving Termination Date, in an aggregate outstanding amount at any time not in excess of $260,000,000; 
 NOW THEREFORE, in consideration of the foregoing, and for other consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto hereby agree as follows: 

SECTION 1. DEFINITIONS 
 1.1. Defined Terms. As used in this Agreement, the terms listed in this Section 1.1 shall have the respective meanings set forth in this Section 1.1. 

“Acceptable Discount”: as defined in Section 4.1(b)(iii). 

“Acceptance Date” : as defined in Section 4.1(b)(ii). 

“Acceptance Fee”: a fee payable by the Canadian Borrower or the U.S. Borrower, as applicable, with respect to the
acceptance of a Bankers’ Acceptance by a Canadian Revolving Lender, as set forth in Section 4.5(f) and as such fee is set forth in the definition of “Applicable Margin” or, with respect to the acceptance of a Bankers’
Acceptance by any Replacement Revolving Commitment, in the applicable Replacement Revolving Facility Amendment. 

“Acquired Entity”: as defined in the definition of “Permitted Acquisition”. 

“Additional Extensions of Credit”: as defined in Section 11.1. 

“Additional First Lien Collateral Agent”: as defined in the First Lien Intercreditor Agreement. 

“Additional U.S. Term-1 Commitment”: with respect to the Additional U.S. Term-1 Lender, its commitment to make a U.S.
Term-1 Loan on the Amendment No. 1 Effective Date in an amount equal to $1,180,000,000 minus the aggregate principal amount of Converted U.S. Term Loans of all Lenders. 
 “Additional U.S. Term-1 Joinder Agreement”: the joinder agreement, dated as of the Amendment No. 1 Effective Date, by and among the Borrowers, the Administrative Agent and the
Additional U.S. Term-1 Lender. 
 “Additional U.S. Term-1 Lender”: the Person identified as such in the
Additional U.S. Term-1 Joinder Agreement. 
 “Administrative Agent”: as defined in the preamble to this
Agreement. 
 “Affiliate”: as to any Person, any other Person that, directly or indirectly, is in control of,
is controlled by, or is under common control with, such Person. For purposes of this definition, “control” of a Person means the power, directly or indirectly, either to (a) vote 10% or more of the securities having ordinary voting
power for the 

 
election of directors (or persons performing similar functions) of such Person or (b) direct or cause the direction of the management and policies of such Person, whether by contract or
otherwise. 
 “Agents”: the collective reference to the Co-Syndication Agents, the Lead Arrangers, the
Collateral Agent and the Administrative Agent, which term shall include, for purposes of Section 10 only, each Issuing Lender and each Swing Line Lender. 
 “Aggregate Exposure”: with respect to any Lender at any time, an amount equal to the sum of (a) the amount of such Lender’s Term Commitments then in effect or, if the Term
Commitments have terminated, the aggregate then unpaid principal amount of such Lender’s Term Loans and (b) the amount of such Lender’s Revolving Commitments then in effect or, if the Revolving Commitments have terminated, the amount
of such Lender’s Revolving Extensions of Credit then outstanding, in the case of any Revolving Loans made or Letters of Credit issued in Canadian Dollars, based on the Dollar Equivalent of such Revolving Loans or Letters of Credit. 

“Aggregate Exposure Percentage”: with respect to any Lender at any time, the ratio (expressed as a percentage) of such
Lender’s Aggregate Exposure at such time to the Aggregate Exposure of all Lenders at such time. 

“Agreement”: this Credit Agreement. 
 “Amendment No. 1”: Amendment No. 1 to this Agreement, dated as of February 25, 2011, by and among the Borrowers, the Administrative Agent and the Lenders party thereto.

 “Amendment No. 1 Consenting Lender”: each Lender that provided the Administrative Agent with a
counterpart to Amendment No. 1 executed by such Lender. 
 “Amendment No. 1 Effective Date”: as
defined in Amendment No. 1. 
 “Anti Terrorism Law”: the USA Patriot Act or any other law in the U.S. or
Canada pertaining to the prevention of future acts of terrorism, in each case as such law may be amended from time to time. 

“Applicable Discount”: as defined in Section 4.1(b)(iii). 

“Applicable ECF Percentage”: for any fiscal year, (a) 50% if the Senior Secured Leverage Ratio as of the last day
of such fiscal year is greater than or equal to 3.50 to 1.00, (b) 25% if the Senior Secured Leverage Ratio as of the last day of such fiscal year is less than 3.50 to 1.00 but greater than or equal to 3.00 to 1.00 and (c) 0% if the Senior
Secured Leverage Ratio as of the last day of such fiscal year is less than 3.00 to 1.00. 
 “Applicable
Margin”: for each Type of Loan (other than Refinancing Term Loans, Extended Term Loans and Revolving Loans made pursuant to Replacement Revolving Commitments which shall have Applicable Margins as set forth in the applicable Refinancing
Term Loan Amendment, Term Loan Extension Amendment or Replacement Revolving Facility Amendment, as applicable), the rate per annum set forth under the relevant column heading below: 

 

																	
	 	  	Eurodollar
Loans	 	 	Base Rate
Loans	 	 	Canadian
Prime Rate Loans	 	 	Acceptance
Fee	 
	 U.S. Revolving Loan
	  	 	4.00	% 	 	 	3.00	% 	 	 	N.A.	  	 	 	N.A.	  
	 Canadian Revolving Loans
	  	 	4.00	% 	 	 	3.00	% 	 	 	3.00	% 	 	 	4.00	% 
	 U.S. Term-1 Loans
	  	 	3.00	% 	 	 	2.00	% 	 	 	N.A.	  	 	 	N.A.	  

“Application”: an application, in such form as the applicable Issuing Lender may specify from time to time, requesting
the Issuing Lender to open a Letter of Credit. 
 “Approved Fund”: as defined in Section 11.6. 

  
 -2-

 “Asset Sale”: any Disposition of (a) Property or series of related
Dispositions of Property (excluding any such Disposition permitted by clause (a), (b), (c) or (d) of Section 8.5) that yields gross proceeds to any Group Member (valued at the initial principal amount thereof in the case of non-cash
proceeds consisting of notes or other debt securities and valued at fair market value in the case of other non-cash proceeds) in excess of $5,000,000 or (b) any Capital Stock of any Subsidiary or series of related Dispositions of Capital Stock
of any Subsidiary (in either case, whether through the sale or issuance thereof or otherwise), excluding any such Disposition permitted by clause (d) of Section 8.5, that yields gross proceeds to any Group Member (valued at the initial
principal amount thereof in the case of non-cash proceeds consisting of notes or other debt securities and valued at fair market value in the case of other non-cash proceeds) in excess of $5,000,000. 

“Assignee”: as defined in Section 11.6(b). 

“Assignment and Assumption”: an Assignment and Assumption, substantially in the form of Exhibit B. 

“Available Amount”: at any time, the sum of: 

(i) the cumulative portion of Excess Cash Flow for each fiscal year of Cedar Fair LP, commencing with the fiscal year
ending December 31, 2011, that is not required to be applied to prepay or repay Loans pursuant to Section 4.2; plus 
 (ii) the portion of the Net Cash Proceeds from any sale of Capital Stock of Cedar Fair LP (or contributions to the capital of Cedar Fair LP) that is not required to be applied to prepay Loans pursuant to
Section 4.2(a) (except to the extent such amounts were relied on to make a Permitted Acquisition pursuant to the parenthetical contained in clause (ii) of the definition of Permitted Acquisition); minus 

(iii) the aggregate amount of Restricted Payments made in reliance on Sections 8.6(f); minus 

(iv) the aggregate amount of Investments made in reliance on Section 8.7(m) (net of any cash return to Cedar Fair LP
and its Subsidiaries in respect of such Investments); minus 
 (v) the aggregate amount of Indebtedness
prepaid in reliance on Section 8.8(iii). 
 “Available Canadian Revolving Commitment”: as to any Canadian
Revolving Lender at any time, an amount equal to the excess, if any, of (a) such Lender’s Canadian Revolving Commitment then in effect over (b) such Lender’s Canadian Revolving Extensions of Credit then outstanding;
provided that, in calculating any Lender’s Canadian Revolving Extensions of Credit for the purpose of determining such Lender’s Available Canadian Revolving Commitment pursuant to Section 3.5, the aggregate principal amount of
Canadian Swing Line Loans then outstanding shall be deemed to be zero. 
 “Available Liquidity”: at any time of
determination an amount equal to the sum of (a) the aggregate Available Canadian Revolving Commitments at such time plus (b) the aggregate Available U.S. Revolving Commitments at such time plus (c) unrestricted cash of
the Loan Parties on hand at such time less (d) the dollar amount of checks written by Loan Parties but not yet cleared against the balance on deposit in the Loan Parties’ bank accounts at such time. 

“Available U.S. Revolving Commitment”: as to any U.S. Revolving Lender at any time, an amount equal to the excess, if
any, of (a) such Lender’s U.S. Revolving Commitment then in effect over (b) such Lender’s U.S. Revolving Extensions of Credit then outstanding; provided that, in calculating any Lender’s U.S. Revolving
Extensions of Credit for the purpose of determining such Lender’s Available U.S. Revolving Commitment pursuant to Section 3.5, the aggregate principal amount of U.S. Swing Line Loans then outstanding shall be deemed to be zero. 

“BA Equivalent Loan”: a Canadian Revolving Loan (or Replacement Revolving Loan to the Canadian Borrower or the U.S.
Borrower) made by a Non-BA Lender evidenced by a Discount Note. 

  
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 “BA Loan”: a Canadian Revolving Loan (or Replacement Revolving Loan to the
Canadian Borrower or the U.S. Borrower) made by way of the issuance of Bankers’ Acceptances. 
 “Bankers’
Acceptance”: a bill of exchange, including a depository bill issued in accordance with the Depository Bills and Notes Act (Canada), denominated in Canadian Dollars, drawn by the Canadian Borrower or the U.S. Borrower and accepted by a
Canadian Revolving Lender, and includes a Discount Note. 
 “Bankruptcy Event”: with respect to any Person,
such Person becomes the subject of a bankruptcy or insolvency proceeding, or has had a receiver, conservator, trustee, administrator, custodian, assignee for the benefit of creditors or similar Person charged with the reorganization or liquidation
of its business appointed for it, or, in the good faith determination of the Administrative Agent, has taken any action in furtherance of, or indicating its consent to, approval of, or acquiescence in, any such proceeding or appointment; provided
that a Bankruptcy Event shall not result solely by virtue of any ownership interest, or the acquisition of any ownership interest, in such Person by a Governmental Authority or instrumentality thereof, provided, further, that such ownership interest
does not result in or provide such Person 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 Person (or such Governmental Authority or
instrumentality) to reject, repudiate, disavow or disaffirm any contracts or agreements made by such Person. 
 “Base
Rate”: 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 0.50% and (c) the Eurodollar Rate applicable for an
interest period of one month plus 1.00%. For purposes hereof: “Prime Rate” shall mean the rate of interest per annum publicly announced from time to time by the Administrative Agent as its prime rate in effect at its principal
office in New York, New York. Any change in the Base Rate due to a change in the Prime Rate, the Federal Funds Effective Rate or the Eurodollar Rate shall be effective as of the opening of business on the effective day of such change in the Prime
Rate, the Federal Funds Effective Rate or the Eurodollar Rate, respectively. 
 “Base Rate Loans”: Loans the
rate of interest applicable to which is based upon the Base Rate. 
 “Benefited Lender”: as defined in
Section 11.7(a). 
 “Blocked Person”: as defined in Section 5.26. 

“Board”: the Board of Governors of the Federal Reserve System of the United States (or any successor). 

“Borrower” and “Borrowers”: as defined in the preamble to this Agreement. 

“Borrower Credit Agreement Obligations”: as defined in the Guarantee and Collateral Agreement. 

“Borrowing Date”: any Business Day specified by the applicable Borrower as a date on which the applicable Borrower
requests the relevant Lenders to make Loans hereunder. 
 “Borrowing Notice”: with respect to any request for
the borrowing of Loans hereunder, a notice from the applicable Borrower, substantially in the form of, and containing the information prescribed by, Exhibit J, delivered to the Administrative Agent. 

“Business”: as defined in Section 5.17(b). 

“Business Day”: a day other than a Saturday, Sunday or other day on which commercial banks in New York City or (solely
with respect to all notices and determinations in connection with, and payments of principal and interest on, Canadian Revolving Extensions of Credit) Toronto, Ontario are authorized or required by law to close, provided, that with respect to
notices and determinations in connection with, and payments of principal and interest on, Eurodollar Loans, such day is also a day for trading by and between banks in Dollar deposits in the London interbank eurodollar market. 

  
 -4-

 “Canadian Benefit Plans”: all material employee benefit plans maintained or
contributed to by any Group Member formed in Canada that are not Canadian Pension Plans including, without limitation, all profit sharing, savings, supplemental retirement, retiring allowance, severance, pension, deferred compensation, welfare,
bonus, incentive compensation, phantom stock, supplementary unemployment benefit plans or arrangements and all material life, health, dental and disability plans and arrangements in which the employees or former employees of any Group Member
employed in Canada participate or are eligible to participate, in each case whether written or oral, funded or unfunded, insured or self insured, reported or unreported, but excluding all stock option or stock purchase plans. 

“Canadian Borrower”: as defined in the preamble hereto. 

“Canadian CFC Subsidiary”: any Canadian Subsidiary that is a CFC or a Subsidiary of a CFC. 

“Canadian Dollar” and “C$”: lawful currency of Canada. 

“Canadian Guarantee Agreement”: the Canadian Guarantee Agreement executed and delivered by the Canadian Borrower,
substantially in the form of Exhibit O. 
 “Canadian Guarantor”: (i) the Canadian Borrower and
(ii) each Canadian Subsidiary that is not a Canadian CFC Subsidiary other than any such Subsidiary that is not a Material Subsidiary. 
 “Canadian Issuing Lender”: JPMorgan Chase Bank, N.A. or any other Canadian Revolving Lender from time to time designated by the Canadian Borrower or the U.S. Borrower as the Canadian
Issuing Lender with the consent of such Canadian Revolving Lender and the Administrative Agent. 
 “Canadian L/C
Obligations”: at any time, an amount equal to the sum of (a) the then aggregate undrawn and unexpired amount of the then outstanding Canadian Letters of Credit and (b) the aggregate amount of drawings under the Canadian Letters of
Credit that have not then been reimbursed pursuant to Section 3.11. 
 “Canadian L/C Participants”: with
respect to any Canadian Letter of Credit, the collective reference to the Canadian Revolving Lenders other than the Canadian Issuing Lender that issued such Canadian Letter of Credit. 

“Canadian L/C Sub Commitment”: Five Million Dollars ($5,000,000). 

“Canadian Letters of Credit”: as defined in Section 3.7(c). 

“Canadian Obligations”: the obligations of the Canadian Borrower to pay the unpaid principal of and interest on
(including, without limitation, interest accruing after the maturity of the Term Loans, Canadian Revolving Loans made to the Canadian Borrower and Canadian Reimbursement Obligations of the Canadian Borrower and interest accruing after the filing of
any petition in bankruptcy, or the commencement of any insolvency, reorganization or like proceeding, relating to the Canadian Borrower, whether or not a claim for post filing or post petition interest is allowed in such proceeding) the Term Loans,
the Canadian Revolving Loans, the Canadian Reimbursement Obligations and all other obligations and liabilities of the Canadian Borrower to the Canadian Secured Parties, whether direct or indirect, absolute or contingent, due or to become due, or now
existing or hereafter incurred, which may arise under, out of, or in connection with, this Agreement, any other Loan Document, the Canadian Letters of Credit or any other document made, delivered or given in connection herewith or therewith, whether
on account of principal, interest, reimbursement obligations, fees, indemnities, costs, expenses (including, without limitation, all fees, charges and disbursements of counsel to the Lead Arrangers, to the Agents or to any Lender that are required
to be paid by the Canadian Borrower pursuant hereto or thereto) or otherwise. 
 “Canadian Payment Amount”: as
defined in Section 3.11(b). 
 “Canadian Payment Office”: the office specified from time to time by the
Administrative Agent as its payment office by notice to Cedar Fair LP, the Canadian Borrower and the Canadian Revolving Lenders. 

  
 -5-

 “Canadian Pension Plans”: any plan, program or arrangement which is
considered to be a pension plan for the purposes of any applicable pension benefits standards, or tax, statute and/or regulation in Canada or any province or territory thereof established, maintained or contributed to by, or to which there is or may
be an obligation to contribute by, any Group Member, their respective employees or former employees, in each case whether written or oral, funded or unfunded, insured or self insured, reported or unreported. 

“Canadian Prime Rate”: on any day the greater of: 

(a) the annual rate of interest quoted from time to time in the “Report on Business” section of The Globe and
Mail as being “Canadian Prime Rate”, “chartered bank prime rate” or words of similar description; and 
 (b) the CDOR Rate in effect from time to time plus 100 basis points per annum. 

Any change in the Canadian Prime Rate shall be effective as of the opening of business on the date the change becomes effective
generally. 
 “Canadian Prime Rate Loans”: Canadian Revolving Loans which are denominated in Canadian Dollars
and in respect of which the Canadian Borrower or the U.S. Borrower is obligated to pay interest in accordance with Section 4.5 at the Canadian Prime Rate plus the Applicable Margin. 

“Canadian Property” any right or interest in or to property of any kind whatsoever whether now owned or hereafter
acquired, whether real, personal or mixed and whether tangible or intangible, in each case as and while located in Canada, including, without limitation, the Capital Stock of any Person formed and existing under the laws of Canada or any territory,
province or subdivision thereof. 
 “Canadian Refunded Swing Line Loans”: as defined in Section 3.4(g).

 “Canadian Refunding Date”: as defined in Section 3.4(h). 

“Canadian Reimbursement Obligations”: the Reimbursement Obligations owing by the Canadian Borrower or the U.S. Borrower
pursuant to the Canadian Revolving Facility. 
 “Canadian Revolving Commitment”: as to any Canadian Revolving
Lender, the obligation of such Lender, if any, to make Canadian Revolving Loans and participate in Canadian Swing Line Loans and Canadian Letters of Credit, in an aggregate principal and/or face amount not to exceed the amount set forth under the
heading “Canadian Revolving Commitment” under such Lender’s name (i) on Schedule 1.2 or (ii) as the case may be, on the Assignment and Assumption pursuant to which such Lender became a party hereto, as the same may be
changed from time to time pursuant to the terms hereof (including pursuant to Section 2.6). The aggregate amount of Canadian Revolving Commitments as of the Closing Date is Fifteen Million Dollars ($15,000,000). For the avoidance of doubt, all
Replacement Revolving Commitments in favor of both the Canadian Borrower and the U.S. Borrower shall constitute “Canadian Revolving Commitments” for all purposes of this Agreement. 

“Canadian Revolving Credit Percentage”: as to any Canadian Revolving Lender at any time, the percentage which such
Lender’s Canadian Revolving Commitment then constitutes of the aggregate Canadian Revolving Commitments (or, at any time after the Canadian Revolving Commitments shall have expired or terminated, the percentage which the aggregate amount of
such Lender’s Canadian Revolving Extensions of Credit then outstanding constitutes of the amount of the aggregate Canadian Revolving Extensions of Credit then outstanding) ; provided that in the case of Section 4.16 when a
Defaulting Lender shall exist, “Canadian Revolving Credit Percentage” shall mean the percentage of the total Canadian Revolving Commitments (disregarding any Defaulting Lender’s Canadian Revolving Commitment) represented by such
Lender’s Canadian Revolving Commitment. 
 “Canadian Revolving Extensions of Credit”: as to any Canadian
Revolving Lender at any time, an amount equal to the sum of (a) the aggregate principal amount of all Canadian Revolving Loans (including those made by way of BA Loans calculated at the face amount of the Bankers’ Acceptances issued in
connection therewith) made 

  
 -6-

 
by such Lender then outstanding, (b) such Lender’s Canadian Revolving Credit Percentage of the Canadian L/C Obligations then outstanding and (c) such Lender’s Canadian
Revolving Credit Percentage of the Canadian Swing Line Loans then outstanding. 
 “Canadian Revolving
Facility”: as defined in the definition of “Facility” in this Section 1.1. 
 “Canadian
Revolving Lender”: each Lender that has a Canadian Revolving Commitment or that is the holder of Canadian Revolving Loans, including, if applicable, institutions that, in separate capacities, serve as the Canadian Issuing Lender.

 “Canadian Revolving Loans”: as defined in Section 3.1(b). 

“Canadian Secured Parties”: the collective reference to the Term Lenders, the Canadian Revolving Lenders, the Collateral
Agent (in its capacity as agent for the other Canadian Secured Parties), the Administrative Agent, the Qualified Counterparties under Specified Agreements entered into by the Canadian Borrower or any of its Subsidiaries, the Canadian Issuing Lenders
and the Canadian Swing Line Lender. 
 “Canadian Security Documents”: collectively, (a) the Debenture
(Canada), the Security Agreement (Canada), and the Notice of Security Interest in IP (Canada), in each case, between each of the Loan Parties having Canadian Property and the Collateral Agent, (b) the Canadian Guarantee Agreement, and
(c) all other documents delivered to the Collateral Agent granting or perfecting a Lien on Canadian Property of any Person, including all financing statements filed in connection therewith, any intellectual property security agreements, blocked
account agreements or control agreements that may be required to be delivered pursuant to this Agreement or any other Loan Document with respect to such Canadian Property, and all other security documents hereafter delivered to the Collateral Agent
granting or perfecting a Lien on such Canadian Property of any Person to secure the obligations and liabilities of any Loan Party under any Loan Document. 
 “Canadian Swing Line Lender”: JPMorgan Chase Bank, N.A., and each other Lender that has a Canadian Swing Line Sub Commitment or that is a holder of Canadian Swing Line Loans;
provided, that there shall be no more than one Canadian Swing Line Lender at any time. 
 “Canadian Swing Line
Loans”: as defined in Section 3.3(c). 
 “Canadian Swing Line Participation Amount”: as defined
in Section 3.4(h). 
 “Canadian Swing Line Sub Commitment”: the obligation of the Canadian Swing Line
Lender to make Canadian Swing Line Loans pursuant to Section 3.4 in an aggregate principal amount at any one time outstanding not to exceed Five Million Dollars ($5,000,000). 

“Capital Expenditures”: for any period, with respect to any Person, the aggregate of all expenditures by such Person and
its Subsidiaries for the acquisition or leasing (pursuant to a capital lease) of fixed or capital assets or additions to equipment (including replacements, capitalized repairs and improvements during such period) that should be capitalized under
GAAP on a consolidated balance sheet of such Person and its Subsidiaries. 
 “Capital Lease Obligations”: as to
any Person, the obligations of such Person to pay rent or other amounts under any lease of (or other arrangement conveying the right to use) real or personal property, or a combination thereof, which obligations are required to be classified and
accounted for as capital leases on a balance sheet of such Person under GAAP and, for the purposes of this Agreement, the amount of such obligations at any time shall be the capitalized amount thereof at such time determined in accordance with GAAP.

 “Capital Stock”: any and all shares, interests, participations or other equivalents (however designated) of
capital stock of a corporation, any and all equivalent ownership interests in a Person (other than a corporation) and any and all warrants, rights or options to purchase any of the foregoing. 

  
 -7-

 “Cash Equivalents”: (a) marketable direct obligations issued by, or
unconditionally guaranteed by, the United States Government, the Canadian Government or issued by any agency thereof and backed by the full faith and credit of the United States or Canada, in each case maturing within one year from the date of
acquisition; (b) certificates of deposit, time deposits, eurodollar time deposits or overnight bank deposits having maturities of six months or less from the date of acquisition issued by any Lender or by any commercial bank organized under the
laws of the United States or any state thereof or by a bank listed in Schedule I of the Bank Act (Canada) and having combined capital and surplus of not less than $500,000,000; (c) commercial paper of an issuer rated at least A1 by
Standard & Poor’s Ratings Services (“S&P”) or P1 by Moody’s Investors Service, Inc. (“Moody’s”), or carrying an equivalent rating by a nationally recognized rating agency, if both of the
two named rating agencies cease publishing ratings of commercial paper issuers generally, and maturing within six months from the date of acquisition; (d) repurchase obligations of any Lender or of any commercial bank satisfying the
requirements of clause (b) of this definition, having a term of not more than 30 days, with respect to securities issued or fully guaranteed or insured by the United States or Canada; (e) securities with maturities of one year or less from
the date of acquisition issued or fully guaranteed by any state, province, commonwealth or territory of the United States or Canada, by any political subdivision or taxing authority of any such state, province, commonwealth or territory or by any
foreign government, the securities of which state, province, commonwealth, territory, political subdivision, taxing authority or foreign government (as the case may be) are rated at least A by S&P or Al by Moody’s; (f) securities with
maturities of six months or less from the date of acquisition backed by standby letters of credit issued by any Lender or any commercial bank satisfying the requirements of clause (b) of this definition; or (g) shares of money market
mutual or similar funds which invest exclusively in assets satisfying the requirements of clauses (a) through (f) of this definition or money market funds that (i) comply with the criteria set forth in Securities and Exchange
Commission Rule 2a-7 under the Investment Company Act of 1940, as amended, (ii) are rated AAA by S&P and Aaa by Moody’s and (iii) have portfolio assets of at least $5,000,000,000. 

“CDOR Rate”: on any day, the annual rate of interest which is the arithmetic average of the “BA 1 month” (or,
in the context of the definition of “Discount Rate”, the 1, 2, 3 or 6 month) rates applicable to Canadian Dollar Bankers’ Acceptances issued by Schedule I Lenders identified as such on the Reuters Screen CDOR Page at approximately
10:00 a.m. (Toronto time) on such day (as adjusted by the Administrative Agent after 10:00 a.m. to reflect any error in any posted rate or in the posted average annual rate). If the rate does not appear on the Reuters Screen CDOR Page as
contemplated above, then the CDOR Rate on any day shall be calculated as the arithmetic average of the discount rates applicable to one month (or, in the context of the definition of “Discount Rate”, the 1, 2, 3 or 6 month) Canadian Dollar
Bankers’ Acceptances of, and as quoted by, any two of the Schedule I Lenders, chosen by the Administrative Agent in its discretion, as of 10:00 a.m. on such day, or if such day is not a Business Day, then on the immediately preceding Business
Day. If less than two Schedule I Lenders quote the aforementioned rate, the CDOR Rate shall be the arithmetic mean (rounded upward to the nearest basis point) of the rates quoted by The Bank of Nova Scotia, Royal Bank of Canada, Canadian Imperial
Bank of Commerce, The Toronto-Dominion Bank and Bank of Montreal. 
 “Cedar Fair LP”: as defined in the
preamble to this Agreement. 
 “CFC”: a “controlled foreign corporation” within the meaning of
Section 957(a) of the Code. 
 “Charges”: as defined in Section 11.17. 

“CIP Regulations”: as defined in Section 10.13. 

“Closing Date”: the date on which the conditions precedent set forth in Section 6 are satisfied in accordance
therewith and this Agreement becomes effective, which date was July 29, 2010. 
 “Closing Date
Certificate”: a certificate, duly executed by each Loan Party, substantially in the form of Exhibit H. 

“Code”: the Internal Revenue Code of 1986, as amended from time to time, together with the rules and regulations
promulgated thereunder. 

  
 -8-

 “Collateral”: all property of the Loan Parties, now owned or hereafter
acquired, upon which a Lien is purported to be created by any Security Document. 
 “Collateral Agent”: as
defined in the preamble to this Agreement. 
 “Commitment”: as to any Lender, the sum of the Term Commitments,
the Revolving Commitments and the Replacement Revolving Commitments of such Lender. 
 “Commitment Fee Rate”:
(i) with respect to the Revolving Credit Facilities, 0.50% per annum; provided that the Commitment Fee Rate will be 0.375% if the Consolidated Leverage Ratio is less than 3.75 to 1.00 as of the date of the most recent Compliance
Certificate and no Default has occurred and is continuing and (ii) with respect to any Replacement Revolving Commitment, as specified in the applicable Replacement Revolving Facility Amendment. 

“Commonly Controlled Entity”: any entity, whether or not incorporated, that is under common control with any Borrower
within the meaning of Section 4001 of ERISA or is part of a group that includes any Borrower and that is treated as a single employer under Section 414 of the Code. 
 “Compliance Certificate”: a certificate duly executed by a Responsible Officer substantially in the form of Exhibit C. 

“Conduit Lender”: any special purpose entity organized and administered by any Lender for the purpose of making Loans
otherwise required to be made by such Lender and designated by such Lender in a written instrument, subject to the consent of the Administrative Agent and Cedar Fair LP (which consent shall not be unreasonably withheld); provided, that the
designation by any Lender of a Conduit Lender shall not relieve the designating Lender of any of its obligations to fund a Loan under this Agreement if, for any reason, its Conduit Lender fails to fund any such Loan, and the designating Lender (and
not the Conduit Lender) shall have the sole right and responsibility to deliver all consents and waivers required or requested under this Agreement with respect to its Conduit Lender, and provided, further, that a Conduit Lender shall
be entitled to the benefits of Section 4.9, 4.10, 4.11 or 11.5 (subject to the limitations and requirements of those Sections) to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to Section 11.6
but no Conduit Lender shall (a) be entitled to receive any greater amount pursuant to Section 4.9, 4.10, 4.11 or 11.5 than the designating Lender would have been entitled to receive in respect of the extensions of credit made by such
Conduit Lender unless the designation of such Conduit Lender was made with the prior written consent of the applicable Borrower (not to be unreasonably withheld or delayed) or (b) be deemed to have any Commitment. 

“Confidential Information Memorandum”: the Confidential Information Memorandum dated May 2010 and furnished to the
Lenders. 
 “Consolidated Current Assets”: at any date, all amounts (other than cash and Cash Equivalents) that
would, in conformity with GAAP, be set forth opposite the caption “total current assets” (or any like caption) on a consolidated balance sheet of Cedar Fair LP and its Subsidiaries at such date. 

“Consolidated Current Liabilities”: at any date, all amounts that would, in conformity with GAAP, be set forth opposite
the caption “total current liabilities” (or any like caption) on a consolidated balance sheet of Cedar Fair LP and its Subsidiaries at such date, but excluding (a) the current portion of any Funded Debt of Cedar Fair LP and its
Subsidiaries and (b) without duplication of clause (a) above, all Indebtedness consisting of Revolving Loans or Swing Line Loans to the extent otherwise included therein. 

“Consolidated EBITDA”: for any period, Consolidated Net Income for such period plus, without duplication and to
the extent reflected as a charge in the statement of such Consolidated Net Income for such period, the sum of (a) income tax expense, (b) interest expense, amortization or write-off of debt discount and debt issuance costs and commissions,
discounts, debt extinguishment costs and other fees and charges associated with Indebtedness (including the Loans), (c) depreciation and amortization expense, (d) amortization of intangibles and organization costs, (e) any
extraordinary charges or losses determined in accordance with GAAP and any non-recurring, 

  
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unusual or restructuring cash charges in an aggregate amount not to exceed $15,000,000 in any four fiscal quarter period, (f) non-cash compensation expenses arising from the issuance of
stock, options to purchase stock and stock appreciation rights and other equity-based compensation to the management of Cedar Fair LP, (g) fees, commissions, expenses, debt extinguishment costs and other costs incurred in connection with the
negotiation of the proposed merger pursuant to the Agreement and Plan of Merger, dated as of December 16, 2009, among Siddur Holdings, Ltd., Cedar Fair LP and the other parties thereto and the termination of such agreement not to exceed
$17,000,000, (h) fees, commissions, expenses, debt extinguishment costs and other costs incurred in connection with the negotiation of the Refinancing and transactions costs and customary fees to third parties incurred in connection with the
issuance of stock or the issuance or incurrence of debt for borrowed money, (i) any other non-recurring, non-cash charges, non-cash expenses or non-cash losses of Cedar Fair LP or any of its Subsidiaries for such period (excluding any such
charge, expense or loss incurred in the ordinary course of business that constitutes an accrual of or a reserve for cash charges for any future period); provided, however, that cash payments made in such period or in any future period
in respect of such non-cash charges, expenses or losses (excluding any such charge, expense or loss incurred in the ordinary course of business that constitutes an accrual of or a reserve for cash charges for any future period) shall be subtracted
from Consolidated Net Income in calculating Consolidated EBITDA in the period when such payments are made, (j) proceeds of business interruption insurance and any expenses reimbursed by third parties (in each case, only to the extent actually
received in cash and only to the extent not included in calculating Consolidated Net Income), (k) charges or losses of Cedar Fair LP or any of its Subsidiaries resulting from the class action settlement in an aggregate amount not to exceed
$10,000,000, and (l) charges or losses of Cedar Fair LP or any of its Subsidiaries resulting from the licensing dispute settlement in an aggregate amount not to exceed $2,000,000, and minus, to the extent included in the statement of
such Consolidated Net Income for such period, the sum of (a) interest income, (b) any extraordinary income or gains determined in accordance with GAAP and (c) any other non-cash income (excluding any items that represent the reversal
of any accrual of, or cash reserve for, anticipated cash charges in any prior period that are described in the parenthetical to clause (i) above), all as determined on a consolidated basis. 

“Consolidated Fixed Charge Coverage Ratio”: for any period, the ratio of (a) Consolidated EBITDA for such period to
(b) Consolidated Fixed Charges for such period; provided that the Consolidated Fixed Charge Coverage Ratio shall be determined on a Pro Forma Basis. 
 “Consolidated Fixed Charges”: for any period, the sum (without duplication) of (a) Consolidated Interest Expense for such period (other than one-time fees, commissions, expenses,
debt extinguishment costs and other costs incurred in connection with any financing or refinancing), (b) income taxes paid in cash during such period, excluding, for the avoidance of doubt, taxes resulting from the gain on the sale of assets
and (c) Capital Expenditures paid in cash during such period (excluding such amounts paid with Reinvestment Deferred Amounts and other amounts reimbursed by a third party that is not a Group Member to the extent received in cash and excluding
Capital Expenditures constituting all or a portion of a Permitted Acquisition). 
 “Consolidated Interest
Expense”: for any period, total cash interest expense (including that attributable to Capital Lease Obligations) of Cedar Fair LP and its Subsidiaries for such period with respect to all outstanding Indebtedness of Cedar Fair LP and its
Subsidiaries (including all commissions, discounts and other fees and charges owed with respect to letters of credit and bankers’ acceptance financing and net costs under Hedge Agreements in respect of interest rates to the extent such net
costs are allocable to such period in accordance with GAAP). 
 “Consolidated Leverage Ratio”: at any date, the
ratio of (a) Consolidated Total Debt as of such date to (b) Consolidated EBITDA for the period of four consecutive fiscal quarters most recently ended on or prior to such date; provided that the Consolidated Leverage Ratio shall be
determined on a Pro Forma Basis. 
 “Consolidated Net Income”: for any period, the consolidated net income (or
loss) of Cedar Fair LP and its Subsidiaries, determined on a consolidated basis in accordance with GAAP; provided that there shall be excluded (a) the income (or deficit) of any Person (other than a Subsidiary of Cedar Fair LP) in which
Cedar Fair LP or any of its Subsidiaries has an ownership interest, except to the extent that any such income is actually received by Cedar Fair LP or such Subsidiary in the form of dividends or similar distributions and (b) the undistributed
earnings of any Subsidiary of Cedar Fair LP to the extent that the declaration or payment of dividends or similar distributions by such Subsidiary is not at the time permitted by the terms of any Contractual Obligation (other than under any Loan
Document) or Requirement of Law applicable to such Subsidiary. 

  
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 “Consolidated Total Debt”: at any date, the aggregate principal amount of
all Indebtedness (of the type described in clauses (a) through (e), inclusive, of the definition of such term) of Cedar Fair LP and its Subsidiaries at such date, other than Indebtedness for the Revolving Loans, determined on a consolidated
basis in accordance with GAAP. 
 “Consolidated Working Capital”: at any date, the excess of Consolidated
Current Assets on such date over Consolidated Current Liabilities on such date. 
 “Contractual
Obligation”: as to any Person, any provision of any security issued by such Person or of any agreement, instrument or other undertaking to which such Person is a party or by which it or any of its property is bound. 

“Converted U.S. Term Loan”: each U.S. Term Loan held by an Amendment No. 1 Consenting Lender on the Amendment
No. 1 Effective Date immediately prior to the effectiveness of Amendment No. 1. 
 “Co-Syndication
Agents”: KeyBank National Association, Wells Fargo Bank, N.A., UBS Loan Finance LLC and Fifth Third Bank, in their capacity as such and their respective successors in such capacity. 

“Credit Party”: as defined in the definition of “Defaulting Lender”. 

“Current Holder Group”: (i) those individuals who are officers and directors of Cedar Fair LP or the Managing
General Partner on the Closing Date, (ii) the spouses, heirs, legatees, descendants and blood relatives to the third degree of consanguinity of any such individual, (iii) the executors and administrators of the estate of any such
individual, and any court appointed guardian of any such individual, and (iv) any trust for the benefit of any such individual referred to in the foregoing clauses (i) and (ii) or any other individuals, so long as one or more members
of the Current Holder Group has the exclusive right to control the voting and disposition of securities held by such trust. 

“Debenture (Canada)”: the Debenture executed and delivered by the Canadian Borrower, substantially in the form of
Exhibit L. 
 “Default”: any of the events specified in Section 9, whether or not any requirement for the
giving of notice, the lapse of time, or both, has been satisfied. 
 “Defaulting Lender”: any Lender that has
(a) failed to fund any portion of its Loans or participations in Letters of Credit or Swing Line Loans within two Business Days of the date required to be funded by it hereunder (unless the subject of a good faith dispute and such Lender has
notified the Administrative Agent in writing that a condition precedent to funding, specifically identified and including the particular default, has not been satisfied), (b) with respect to a Revolving Lender, notified any Borrower, the
Administrative Agent, any Issuing Lender or any Swing Line Lender (each, a “Credit Party”) in writing that it does not intend or expect to comply with any of its funding obligations under this Agreement or has made a public
statement to the effect that it does not intend to comply with its funding obligations under this Agreement (in each case, unless the subject of a good faith dispute notified to the Administrative Agent in writing in reasonable detail that a
condition precedent to funding, specifically identified and including the particular default, has not been satisfied), (c) failed, within three Business Days after request by a Credit Party, acting in good faith, to provide a certification in
writing from an authorized officer of such Lender that it will comply with its obligations (and is financially able to meet such obligations) to fund prospective Loans and participations in then outstanding Letters of Credit and Swing Line Loans
under this Agreement, provided that such Lender shall cease to be a Defaulting Lender pursuant to this clause (c) upon such Credit Party’s receipt of such certification in form and substance satisfactory to it and the Administrative Agent,
(d) otherwise failed to pay over to a Credit Party any other amount required to be paid by it hereunder within two Business Days of the date when due, unless the subject of a good faith dispute, or (e) has become the subject of a
Bankruptcy Event. 

  
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 “Discount Note”: a non-interest bearing promissory note denominated in
Canadian Dollars, substantially in the form of Exhibit K, issued by the Canadian Borrower or the U.S. Borrower to a Non-BA Lender to evidence a BA Equivalent Loan. 
 “Discount Proceeds”: for any Bankers’ Acceptance issued hereunder, an amount calculated on the applicable Borrowing Date by multiplying: 

 

	 	(a)	the face amount of the Bankers’ Acceptance by 

  

	 	(b)	the quotient obtained by dividing: 

  

	 	(i)	one by 

  

	 	(ii)	the sum of one plus the product of: 

 (A) the Discount Rate applicable to the Bankers’ Acceptance and 
 (B) a fraction, the numerator of which is the number of days in the applicable Interest Period and the denominator of which is 365, 
 with the quotient being rounded up or down to the fifth decimal place and 0.000005 being rounded up. 
 “Discount Range”: as defined in Section 4.1(b)(ii). 

“Discount Rate”: (a) in respect of any Bankers’ Acceptance accepted by a Lender that is a Schedule I Lender,
the CDOR Rate for the applicable period; and (b) in respect of any Bankers’ Acceptance accepted by a Lender that is a Schedule II Lender, the lesser of (i) the CDOR Rate for the applicable period plus 0.10% and (ii) the rate
quoted by the Schedule II Reference Lenders. 
 “Discounted Prepayment Option Notice”: as defined in
Section 4.1(b)(ii). 
 “Discounted Voluntary Prepayment”: as defined in Section 4.1(b)(i).

 “Discounted Voluntary Prepayment Notice”: as defined in Section 4.1(b)(v). 

“Disposition”: with respect to any Property, any sale, lease, sale and leaseback, assignment, conveyance, transfer or
other disposition thereof. The terms “Dispose” and “Disposed of” shall have correlative meanings. 
 “Dollar Equivalent”: as to any amount denominated in Canadian Dollars at any time, the equivalent amount in Dollars as determined on the basis of the Exchange Rate for the purchase of
Dollars with Canadian Dollars as of the date of the calculation. 
 “Dollars” and “$”: dollars
in lawful currency of the United States. 
 “Domestic Subsidiary”: any Subsidiary of Cedar Fair LP organized
under the laws of any jurisdiction within the United States. 
 “Environmental Laws”: any and all foreign,
Federal, Canadian, state, provincial, local or municipal laws, rules, orders, regulations, statutes, ordinances, codes, decrees, requirements of any Governmental Authority or other Requirements of Law regulating, relating to or imposing liability or
standards of conduct concerning protection of human health or the environment, as now or may at any time hereafter be in effect. 
 “ERISA”: the Employee Retirement Income Security Act of 1974, as amended from time to time, and any successor thereto and any regulations promulgated thereunder. 

  
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 “Eurocurrency Reserve Requirements”: for any day as applied to a Eurodollar
Loan, the aggregate (without duplication) of the maximum rates (expressed as a decimal fraction) of reserve requirements in effect on such day (including basic, supplemental, marginal and emergency reserves under any regulations of the Board or
other Governmental Authority having jurisdiction with respect thereto) dealing with reserve requirements prescribed for eurocurrency funding (currently referred to as “Eurocurrency Liabilities” in Regulation D of the Board) maintained by a
member bank of the Federal Reserve System. 
 “Eurodollar Base Rate”: with respect to each day during each
Interest Period pertaining to a Eurodollar Loan, the rate per annum determined on the basis of the rate for deposits in Dollars for a period equal to such Interest Period commencing on the first day of such Interest Period appearing on Reuters Page
LIBOR01 Page as of 11:00 A.M., London time, two Business Days prior to the beginning of such Interest Period; provided that in the case of U.S. Term-1 Loans, the Eurodollar Base Rate shall not be less than 1.00%. In the event that such
rate does not appear on Reuters Page LIBOR01 Page (or otherwise on such screen), the “Eurodollar Base Rate” shall be determined by reference to such other comparable publicly available service for displaying eurodollar rates as may be
selected by the Administrative Agent or, in the absence of such availability, by reference to the rate at which the Administrative Agent is offered Dollar deposits at or about 11:00 A.M., New York City time, two Business Days prior to the beginning
of such Interest Period in the interbank eurodollar market where its eurodollar and foreign currency and exchange operations are then being conducted for delivery on the first day of such Interest Period for the number of days comprised therein.

 “Eurodollar Loans”: Loans the rate of interest applicable to which is based upon the Eurodollar Rate.

 “Eurodollar Rate”: with respect to each day during each Interest Period pertaining to a Eurodollar Loan, a
rate per annum determined for such day in accordance with the following formula (rounded to the sixth decimal point): 
  

					
		 	 Eurodollar Base Rate
	 	
		 	 1.00 minus Eurocurrency Reserve Requirements
	 	
		 	 (to the extent, if any, applicable to the
	 	
		 	 Eurodollar Tranche in question)
	 	

 “Eurodollar Tranche”: the collective reference to Eurodollar Loans under a
particular Facility the then current Interest Periods with respect to all of which begin on the same date and end on the same later date (whether or not such Loans shall originally have been made on the same day). 

“Event of Default”: any of the events specified in Section 9; provided that any requirement for the giving
of notice, the lapse of time, or both, has been satisfied. 
 “Excess Cash Flow”: for any fiscal year of Cedar
Fair LP (a)(i) Consolidated EBITDA for such fiscal year plus (ii) any decrease in Consolidated Working Capital for such fiscal year minus (b) the sum of, in each case to the extent not otherwise reducing Consolidated EBITDA
in such period, without duplication, (i) scheduled principal payments of Consolidated Total Debt during such period (including for purposes hereof, sinking fund payments, payments in respect of the principal components under capital leases and
the like relating thereto), in each case other than in connection with a refinancing thereof, (ii) Consolidated Fixed Charges for such period other than to the extent financed with the proceeds of Indebtedness (other than Revolving Loans),
(iii) to the extent not financed with the incurrence or assumption of Indebtedness or proceeds from an issuance of Capital Stock, the amount of Investments, on a consolidated basis, made by Cedar Fair LP and its Subsidiaries during such period
pursuant to clauses (h), (k) and (l) of Section 8.7 and (iv) any increase in Consolidated Working Capital for such fiscal year. 
 “Excess Cash Flow Application Date”: as defined in Section 4.2(d). 
 “Exchange Act”: as defined in Section 7.2(d). 

“Exchange Rate”: on any day, (i) with respect to Canadian Dollars, the rate at which Dollars can be acquired on
such day by the Administrative Agent in Toronto, Canada (or such other location in Canada selected by 

  
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the Administrative Agent) for Canadian Dollars in accordance with its customary practice for commercial loans in Canada, and (ii) with respect to Dollars, the rate at which Canadian Dollars
can be acquired on such day by the Administrative Agent in Toronto, Canada (or such other location in Canada selected by the Administrative Agent) for Dollars in accordance with its customary practice for commercial loans in Canada. 

“Excluded Foreign Subsidiary”: any Subsidiary that is (a) neither a Domestic Subsidiary nor a Canadian Subsidiary;
(b) a Canadian Subsidiary that is a CFC or that is not a CFC but adverse federal tax consequences would result from its giving a Guarantee; (c) a Subsidiary that is treated as a disregarded entity for United States federal income tax
purposes and owns equity interests in a Subsidiary described in (a) or (b); or (d) a domestic Subsidiary that owns equity interests in a Subsidiary described in (a) or (b). 

“Excluded Indebtedness”: all Indebtedness permitted under Section 8.2 (other than clause (h) thereof).

 “Existing Credit Agreement”: the Amended and Restated Credit Agreement, dated as of February 15, 2007,
among Cedar Fair LP, Canada’s Wonderland Company (successor by amalgamation to 3147010 Nova Scotia Company), the several banks and other financial institutions or entities from time to time parties thereto and KeyBank National Association, as
administrative agent (as amended by Amendment No. 1 thereto dated as of August 12, 2009). 
 “Existing Letters
of Credit”: those letters of credit issued and outstanding under the Existing Credit Agreement immediately prior to the Closing Date and set forth on Schedule 3.7. 
 “Extended Term Facility”: as defined in the definition of “Facility”. 
 “Existing Term Loan Facility”: as defined in Section 2.5(a). 

“Extended Term Loans”: as defined in Section 2.5(a). 

“Extending Term Lender”: as defined in Section 2.5(b). 

“Extension Election”: as defined in Section 2.5(b). 

“Extension Request”: as defined in Section 2.5(a). 

“Extension Series”: as defined in Section 2.5(a). 

“Facility”: each of (a) the U.S. Term Commitments and the U.S. Term Loans made thereunder (the “U.S. Term
Facility”), (b) in respect of the Revolving Commitments (i) the U.S. Revolving Commitments and the U.S. Revolving Extensions of Credit made thereunder (the “U.S. Revolving Facility”) and (ii) the Canadian
Revolving Commitments and the Canadian Revolving Extensions of Credit (the “Canadian Revolving Facility”), (c) each Series of Refinancing Term Loans (each such Series, a “Refinancing Term Facility”),
(d) each Incremental Series of Incremental Term Loans (each such Incremental Series, an “Incremental Term Facility”), (e) each Extension Series of Extended Term Loans (each such Extension Series, an “Extended Term
Facility”) and (f) the Additional U.S. Term-1 Commitment, the U.S. Term-1 Loans made thereunder and the U.S. Term-1 Loans converted from Converted U.S. Term Loans (the “U.S. Term-1 Facility”). 

“Federal Funds Effective Rate”: for any day, the weighted average of the rates on overnight federal funds transactions
with members of the Federal Reserve System arranged by federal funds brokers, as published on the next succeeding Business Day by the Federal Reserve Bank of New York, or, if such rate is not so published for any day that is a Business Day, the
average of the quotations for the day of such transactions received by the Administrative Agent from three federal funds brokers of recognized standing selected by it. 
 “First Lien Intercreditor Agreement”: an agreement substantially in the form of Exhibit P, by and among the Collateral Agent, the Additional First Lien Collateral Agent and the authorized
representatives from time to time party thereto with any such changes as are reasonably acceptable to the Collateral Agent. 

  
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 “Fiscal Q1”: for any year means the first quarterly fiscal period of Cedar
Fair LP during such year and ending on or about March 31 of such year. 
 “Fiscal Q2”: for any year means
the second quarterly fiscal period of Cedar Fair LP during such year and ending on or about June 30 of such year. 

“Fiscal Q3”: for any year means the third quarterly fiscal period of Cedar Fair LP during such year and ending on or
about September 30 of such year. 
 “Fiscal Q4”: for any year means the fourth quarterly fiscal period of
Cedar Fair LP during such year and ending on December 31 of such year. 
 “Foreign Lender”: a Lender or
Issuing Lender that is not a “United States person” within the meaning of Section 7701(a)(30) of the Code. 

“Foreign Subsidiary”: any Subsidiary of Cedar Fair LP that is not a Domestic Subsidiary. 

“Fronting Fee”: as defined in Section 3.9(b). 

“Funded Debt”: as to any Person, all Indebtedness (of the type described in clauses (a) through (e), inclusive, of
the definition of such term) of such Person that matures more than one year from the date of its creation or matures within one year from the date of its creation but is renewable or extendible, at the option of such Person, to a date more than one
year from such date or arises under a revolving credit or similar agreement that obligates the lender or lenders to extend credit during a period of more than one year from such date, including all current maturities and current sinking fund
payments in respect of such Indebtedness whether or not required to be paid within one year from the date of its creation and, in the case of the Borrowers, Indebtedness in respect of the Loans. 

“Funding Office”: the office of the Administrative Agent specified in Section 11.2 or such other office as may be
specified from time to time by the Administrative Agent as its funding office by written notice to Cedar Fair LP and the Lenders. 
 “GAAP”: generally accepted accounting principles in the United States as in effect from time to time. 
 “Governmental Authority”: any nation or government, any state, province, territory or other political subdivision thereof, any agency, authority, instrumentality, regulatory body, court,
central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative functions of or pertaining to government, any securities exchange and any self regulatory organization (including the National Association
of Insurance Commissioners). 
 “Group Members”: the collective reference to the Borrowers and their respective
Subsidiaries. 
 “Guarantee and Collateral Agreement”: the Guarantee and Collateral Agreement executed and
delivered by Cedar Fair LP and each Subsidiary Guarantor (other than Canadian Guarantors) dated as of the Closing Date. 

“Guarantee Obligation”: as to any Person (the “guaranteeing person”), any obligation of (a) the
guaranteeing person or (b) another Person (including any bank under any letter of credit) to induce the creation of which the guaranteeing person has issued a reimbursement, counterindemnity or similar obligation, in either case guaranteeing or
in effect guaranteeing any Indebtedness, leases, dividends or other obligations (the “primary obligations”) of any other third Person (the “primary obligor”) in any manner, whether directly or indirectly, including
any obligation of the guaranteeing 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 (1) for the purchase
or payment of any such primary obligation or (2) to maintain working capital or equity capital of the primary obligor or otherwise to maintain the net worth or solvency of the primary obligor, (iii) to purchase property, securities or
services primarily for the purpose of assuring the owner of any such primary obligation of the ability of the primary obligor to make payment of such primary obligation or (iv) otherwise to assure or hold harmless the owner of any such primary
obligation 

  
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against loss in respect thereof; provided, however, that the term Guarantee Obligation shall not include endorsements of instruments for deposit or collection in the ordinary course
of business. The amount of any Guarantee Obligation of any guaranteeing person shall be deemed to be the lower of (a) an amount equal to the stated or determinable amount of the primary obligation in respect of which such Guarantee Obligation
is made and (b) the maximum amount for which such guaranteeing person may be liable pursuant to the terms of the instrument embodying such Guarantee Obligation, unless such primary obligation and the maximum amount for which such guaranteeing
person may be liable are not stated or determinable, in which case the amount of such Guarantee Obligation shall be such guaranteeing person’s maximum reasonably anticipated liability in respect thereof as determined by the Borrowers in good
faith. 
 “Hedge Agreements”: any agreement with respect to any swap, forward, future or derivative transaction
or option or similar agreement involving, or settled by reference to, one or more rates, currencies, commodities, equity or debt instruments or securities, or economic, financial or pricing indices or measures of economic, financial or pricing risk
or value or any similar transaction or any combination of these transactions; provided that no phantom stock or similar plan providing for payments only on account of services provided by current or former directors, officers, employees or
consultants of the Borrowers or the Subsidiaries shall be a Hedge Agreement. 
 “Increased Amount Date”: as
defined in Section 2.6(a)(i). 
 “Incremental Series”: as defined in Section 2.6. 

“Incremental Term Facility”: as defined in the definition of “Facility”. 

“Incremental Term Lender”: a Lender with an Incremental Term Loan Commitment or an outstanding Incremental Term Loan.

 “Incremental Amendment”: as defined in Section 2.6. 

“Incremental Term Loan Commitment”: the commitment of any Lender, established pursuant to Section 2.6, to make
Incremental Term Loans to the Borrowers. 
 “Incremental Term Loans”: Term Loans made by one or more Lenders to
the Borrowers pursuant to Section 2.6. 
 “Indebtedness”: of any Person at any date, without duplication,
(a) all indebtedness of such Person for borrowed money, (b) all obligations of such Person for the deferred purchase price of property or services (other than current trade payables incurred in the ordinary course of such Person’s
business), (c) all obligations of such Person evidenced by notes, bonds, debentures or other similar instruments, (d) all indebtedness created or arising under any conditional sale or other title retention agreement with respect to
property acquired by such Person (even though the rights and remedies of the seller or lender under such agreement in the event of default are limited to repossession or sale of such property), (e) all Capital Lease Obligations of such Person,
(f) all obligations of such Person, contingent or otherwise, as an account party or applicant under or in respect of acceptances, letters of credit, surety bonds or similar arrangements, (g) the liquidation value of all redeemable
preferred Capital Stock of such Person, (h) all Guarantee Obligations of such Person in respect of obligations of the kind referred to in clauses (a) through (g) above, (i) all obligations of the kind referred to in clauses
(a) through (h) above secured by (or for which the holder of such obligation has an existing right, contingent or otherwise, to be secured by) any Lien on property (including accounts and contract rights) owned by such Person, whether or
not such Person has assumed or become liable for the payment of such obligation, and (j) for the purposes of Sections 8.2 and 9(e) only, all obligations of such Person in respect of Hedge Agreements. The Indebtedness of any Person shall include
the Indebtedness of any other entity (including any partnership in which such Person is a general partner) to the extent such Person is liable therefor as a result of such Person’s ownership interest in or other relationship with such entity,
except to the extent the terms of such Indebtedness expressly provide that such Person is not liable therefor. 

“Indemnified Liabilities”: as defined in Section 11.5. 

  
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 “Indemnitee”: as defined in Section 11.5. 

“Initial Revolving Termination Date”: July 29, 2015. 

“Insolvency”: with respect to any Multiemployer Plan, the condition that such Plan is insolvent within the meaning of
Section 4245 of ERISA. 
 “Insolvency Law”: any of Title 11 of the United States Code entitled
“Bankruptcy”, the Bankruptcy and Insolvency Act (Canada), the Companies’ Creditors Arrangement Act (Canada), and the Winding Up and Restructuring Act (Canada), each as now and hereafter in effect, any successors to such statutes and
any other applicable insolvency or other similar law of any jurisdiction (federal, state, provincial, or otherwise), including any law of any jurisdiction permitting a debtor to obtain a stay or a compromise of the claims of its creditors against
it. 
 “Insolvent”: pertaining to a condition of Insolvency. 

“Intellectual Property”: the collective reference to all rights, priorities and privileges relating to intellectual
property and intellectual property rights, whether arising under United States or Canadian, multinational or foreign laws or otherwise, including copyrights, copyright licenses, patents, patent licenses, trademarks, trademark licenses, trade
secrets, know how, technology, and all other confidential business or technical information, and all rights to sue at law or in equity for any past, present or future infringement, misappropriation, dilution or other impairment thereof, including
the right to receive all proceeds and damages therefrom, and all other rights of any kind whatsoever accruing thereunder or pertaining thereto. 
 “Interest Payment Date”: (a) as to any Base Rate Loan (other than any Swing Line Loan), the last day of each March, June, September and December to occur while such Loan is
outstanding and the final maturity date of such Loan, (b) as to any Eurodollar Loan having an Interest Period of three months or less, the last day of such Interest Period, (c) as to any Eurodollar Loan having an Interest Period longer
than three months, each day that is three months, or a whole multiple thereof, after the first day of such Interest Period and the last day of such Interest Period, (d) as to any Canadian Prime Rate Loan, on the last day of each month while
such Loan is outstanding and the final maturity date of such Loan, (e) as to any Loan (other than any Revolving Loan that is a Base Rate Loan and any Swing Line Loan), the date of any repayment or prepayment made in respect thereof and the
Amendment No. 1 Effective Date and (f) as to any Swing Line Loan, the Swing Line Loan Maturity Date. 

“Interest Period”: as to any Eurodollar Loan or BA Loan, (a) initially, the period commencing on the borrowing or
conversion date, as the case may be, with respect to such Eurodollar Loan or BA Loan and ending (1) in the case of Eurodollar Loans, (x) one, three or six months thereafter or (y) if agreed by each Lender of such Eurodollar Loan, nine
or twelve months thereafter and (2) in the case of BA Loans, one, three or six months thereafter, subject to availability for all Canadian Revolving Lenders, in each case as selected by the applicable Borrower in its notice of borrowing or
notice of conversion, as the case may be, given with respect thereto; and (b) thereafter, each period commencing on the last day of the next preceding Interest Period applicable to such Eurodollar Loan or BA Loan and ending (1) in the case
of Eurodollar Loans, one, three, six, nine or twelve months thereafter, as applicable, and (2) in the case of BA Loans, one, three, or six months thereafter, subject to availability for all Canadian Revolving Lenders, in each case as selected
by the applicable Borrower, by irrevocable notice to the Administrative Agent, not less than three Business Days prior to the last day of the then current Interest Period with respect thereto; provided that all of the foregoing provisions
relating to Interest Periods are subject to the following: 
 (i) if any Interest Period selected in respect of a
Eurodollar Loan would otherwise end on a day that is not a Business Day, such Interest Period shall be extended to the next succeeding Business Day unless the result of such extension would be to carry such Interest Period into another calendar
month in which event such Interest Period shall end on the immediately preceding Business Day; 
 (ii) if any
Interest Period selected in respect of a BA Loan would otherwise end on a day that is not a Business Day, such Interest Period shall end on the immediately preceding Business Day; 

  
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 (iii) no Borrower may select an Interest Period under a particular Facility
that would extend beyond the Revolving Termination Date for any Revolving Commitments thereunder or the date final payment is due on the applicable Term Loans, as the case may be; 

(iv) any Interest Period in respect of a Eurodollar Loan 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 a calendar month; and 

(v) the applicable Borrower shall select Interest Periods so as not to require a payment or prepayment of any Eurodollar
Loan during an Interest Period for such Loan. 
 “Investments”: as defined in Section 8.7. 

“Issuing Lender”: any U.S. Issuing Lender and any Canadian Issuing Lender. 

“L/C Fee Payment Date”: with respect to any Revolving Credit Facility, the last day of each March, June, September and
December and the last day of the Revolving Commitment Period for any Revolving Commitments under such Revolving Credit Facility. 
 “L/C Obligations”: the U.S. L/C Obligations and the Canadian L/C Obligations. 
 “L/C Participants”: the U.S. L/C Participants and the Canadian L/C Participants. 
 “L/C Sub Commitment”: the U.S. L/C Sub Commitment and Canadian L/C Sub Commitment. 
 “Lead Arrangers”: J.P. Morgan Securities LLC and KeyBank National Association, in their capacity as such and their respective successors in such capacity. 

“Leasehold Mortgage”: any Mortgage that grants a lien over any leasehold interest of the U.S. Borrower or any other Loan
Party. 
 “Lender Participation Notice”: as defined in Section 4.1(b)(iii). 

“Lender Presentation”: the confidential information memorandum dated May 2010 and furnished to the Lenders. 

“Lenders”: as defined in the preamble to this Agreement; provided that unless the context otherwise requires,
each reference herein to the Lenders shall be deemed to include any Conduit Lender. 
 “Letters of Credit”: the
Canadian Letters of Credit and the U.S. Letters of Credit. 
 “Lien”: any mortgage, pledge, hypothecation,
assignment, deposit arrangement, encumbrance, lien (statutory or other), charge or other security interest or any preference, priority or other security agreement or preferential arrangement of any kind or nature whatsoever (including any
conditional sale or other title retention agreement and any capital lease having substantially the same economic effect as any of the foregoing). 
 “Loan”: any loan made by any Lender pursuant to this Agreement. 

“Loan Documents”: this Agreement, the Security Documents, the Applications and the Notes. 

“Loan Parties”: each Group Member that is a party to a Loan Document. 

“Majority Facility Lenders”: with respect to any Facility, the Non-Defaulting Lenders holding more than 50% of the
aggregate unpaid principal amount of the U.S. Term-1 Loans, the Refinancing Term Loans of a specified Series, the Extended Term Loans of a specified Extension Series, the Incremental Term Loans of a specified Incremental

  
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Series, the Canadian Revolving Extensions of Credit or the U.S. Revolving Extensions of Credit, as the case may be, outstanding under such Facility (or, in the case of the Canadian Revolving
Facility or the U.S. Revolving Facility, prior to termination in full of, respectively, the Canadian Revolving Commitments or the U.S. Revolving Commitments, the Non-Defaulting Lenders holding more than 50% of, respectively, the Canadian Revolving
Commitments or the U.S. Revolving Commitments). 
 “Managing General Partner”: Cedar Fair Management Inc., an
Ohio corporation, together with its successors and assigns. 
 “Material Adverse Effect”: a material adverse
effect on (a) the Refinancing, (b) the business, assets, property, financial condition or results of operations of Cedar Fair LP and its Subsidiaries taken as a whole, (c) the validity or enforceability of this Agreement or any of the
other Loan Documents or the rights or remedies of the Agents or the Lenders hereunder or thereunder or the validity, perfection or priority of the Collateral Agent’s Liens upon the Collateral or (d) the ability of the Borrowers and the
other Loan Parties, taken as a whole, to perform their payment obligations under the Loan Documents. 
 “Material
Subsidiary”: at any time, any Subsidiary of Cedar Fair LP (i) that has assets at such time comprising two percent (2%) or more of the consolidated assets of Cedar Fair LP, or (ii) whose operations in the current fiscal year
are expected to, or whose operations in the most recent fiscal year did (or would have if such person had been a Subsidiary for such entire fiscal year) represent two percent (2%) or more of the Consolidated EBITDA for such fiscal year;
provided, however, that notwithstanding the foregoing, the term “Material Subsidiary” shall include, without limitation, the Canadian Borrower, the U.S. Co-Borrower, Cedar Point, an Ohio general partnership, Cedar Point of
Michigan, Inc., a Michigan corporation, Michigan’s Adventure, Inc., a Michigan corporation, Cedar Point, Inc., an Ohio corporation, Cedar Fair Southwest Inc., a Delaware corporation, Kings Island Company, a Delaware corporation, Western Row
Properties, Inc., an Ohio corporation, Wonderland Company Inc., a Delaware corporation, Knott’s Berry Farm, a California general partnership and Boeckling, L.P., an Ohio limited partnership. 

“Materials of Environmental Concern”: any gasoline or petroleum (including crude oil or any fraction thereof) or
petroleum products or any hazardous or toxic substances, materials or wastes, defined or regulated as such in or under any Environmental Law, including asbestos, polychlorinated biphenyls and urea formaldehyde insulation. 

“Maximum Rate”: as defined in Section 11.17. 

“Mortgaged Properties”: the real properties listed on Schedule 1.1, as to which the Collateral Agent for the
benefit of the U.S. Secured Parties and/or the Canadian Secured Parties, as the case may be, shall be granted a Lien pursuant to the Mortgages and any other real property in respect of which a Mortgage is provided after the Closing Date. 

“Mortgages”: each of the mortgages, charges, debentures and deeds of trust, made by any Loan Party in favor of, or for
the benefit of, the Collateral Agent for the benefit of the U.S. Secured Parties and/or the Canadian Secured Parties, as the case may be, substantially in the form of Exhibit E or Exhibit L, as the case may be, (with such changes thereto, as shall
be advisable under the law of the jurisdiction in which such mortgage, charge, debenture or deed of trust is to be recorded). 

“Multiemployer Plan”: a Plan that is a multiemployer plan as defined in Section 4001(a)(3) of ERISA. 

“Net Cash Proceeds”: (a) in connection with any Asset Sale or any Recovery Event, the proceeds thereof in the form
of cash and Cash Equivalents (including any such proceeds received by way of deferred payment of principal pursuant to a note or installment receivable or purchase price adjustment receivable or by the Disposition of any non-cash consideration
received in connection therewith or otherwise, but only as and when received) of such Asset Sale or Recovery Event, net of reasonable and customary attorneys’ fees, accountants’ fees, brokers’ commissions, investment banking fees,
amounts required to be applied to the repayment of Indebtedness secured by a Lien expressly permitted hereunder on any asset that is the subject of such Asset Sale or Recovery Event (other than any Lien pursuant to a Security Document and Liens
securing Qualifying Senior Secured Debt) and other reasonable and 

  
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customary fees and expenses actually incurred in connection therewith and net of taxes paid or reasonably estimated to be payable as a result thereof (after taking into account any available tax
credits or deductions and any tax sharing arrangements) and (b) in connection with any issuance or sale of Capital Stock, any capital contribution or any incurrence of Indebtedness, the cash proceeds received from such issuance, contribution or
incurrence, net of reasonable and customary attorneys’ fees, investment banking fees, accountants’ fees, underwriting discounts and commissions and other reasonable and customary fees and expenses actually incurred in connection therewith;
provided that (x) no net cash proceeds calculated in accordance with the foregoing realized in any fiscal year shall constitute Net Cash Proceeds in such fiscal year until the aggregate amount of all such net cash proceeds in such fiscal
year shall exceed $10.0 million (and thereafter only net cash proceeds in excess of such amount shall constitute Net Cash Proceeds) and (y) in any event, no net cash proceeds calculated in accordance with the foregoing realized in a single
transaction or series of related transactions shall constitute Net Cash Proceeds unless such net cash proceeds shall exceed $5.0 million. 
 “Non-BA Lender”: a Canadian Revolving Lender that cannot or does not as a matter of policy accept Bankers’ Acceptances. 

“Non-Defaulting Lender”: each Lender other than a Defaulting Lender. 

“Non-Excluded Taxes”: as defined in Section 4.10(a). 

“Note”: as defined in Section 4.14(d). 
 “Notice of Security Interest in IP (Canada)”: the Notice of Security Interest in IP executed and delivered by the Canadian Borrower, substantially in the form of Exhibit N. 

“Obligations”: without duplication, the Canadian Obligations and the U.S. Obligations. 

“Offered Loans”: as defined in Section 4.1(b)(iii). 

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

“Parent”: with respect to any Lender, any Person as to which such Lender is, directly or indirectly, a subsidiary.

 “Participant”: as defined in Section 11.6(c)(i). 

“Participant Register”: as defined in Section 11.6(c)(i). 

“Payment Amount”: as defined in Section 3.11(a). 

“Payment Office”: the office specified from time to time by the Administrative Agent as its payment office by notice to
Cedar Fair LP and the Lenders. 
 “PBGC”: the Pension Benefit Guaranty Corporation established pursuant to
Subtitle A of Title IV of ERISA (or any successor). 
 “Permitted Acquisition”: the acquisition by Cedar Fair
LP or any other Loan Party of all or substantially all of the assets of a Person or line of business of a Person, or more than 50% of the Capital Stock of a Person (referred to herein as the “Acquired Entity”); provided that
(i) the Acquired Entity shall be in a line of business consistent with the requirements of Section 8.15; (ii) the consideration paid in connection with all such acquisitions (including all transaction costs and all Indebtedness
incurred or assumed in connection therewith) during the term of this Agreement shall not exceed $300,000,000 in the aggregate (plus the Net Cash Proceeds of the issuance or sale of Capital Stock of Cedar Fair LP or, without duplication, a capital
contribution to Cedar Fair LP, received during 

  
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such period but only to the extent that such Net Cash Proceeds are not required to prepay Term Loans pursuant to Section 4.2(a)); provided that the aggregate amount of Investments in
connection with all such acquisitions in Persons that do not become Subsidiary Guarantors or assets acquired in connection therewith that are not owned by Cedar Fair LP or a Subsidiary Guarantor shall not exceed $100,000,000; (iii)(A) Cedar Fair LP
shall be in compliance with the covenants set forth in Section 8.1, as of the most recently completed period ending prior to such acquisition for which the financial statements required by Section 7.1(a) and (b) were required to be
delivered, after giving pro forma effect to such acquisition and to any other event occurring during or after such period; provided that the Administrative Agent shall have received an officer’s certificate of Cedar Fair LP with
reasonable detailed calculations of such covenant compliance with Section 8.1 and (B) after giving pro forma effect to such acquisition and all Indebtedness assumed, incurred or repaid in connection therewith, the Consolidated Leverage
Ratio on the date of such acquisition (based on Consolidated EBITDA determined on a Pro Forma Basis, as set forth in the definition of “Consolidated EBITDA”, as of the most recently ended fiscal quarter for Cedar Fair LP for which
financial statements have been delivered) shall be at least 0.50 to 1.00 lower than the maximum permitted Consolidated Leverage Ratio for such fiscal quarter; (iv) at the time of such acquisition both before and after giving effect thereto, no
Default or Event of Default shall have occurred and be continuing; and (v) Cedar Fair LP shall comply, and shall cause the Acquired Entity to comply, with the applicable provisions of Sections 7.10 and 7.11 and the Security Documents.

 “Permitted Refinancing Indebtedness”: Indebtedness of Cedar Fair LP or a Subsidiary incurred in exchange
for, or the proceeds of which are used to redeem or refinance in whole or in part, any Indebtedness of Cedar Fair or any of its Subsidiaries (the “Refinanced Indebtedness”); provided that: 

(a) the principal amount (and accreted value, in the case of Indebtedness issued at a discount) of the Permitted
Refinancing Indebtedness does not exceed the principal amount (and accreted value, as the case may be) of the Refinanced Indebtedness plus the amount of accrued and unpaid interest on the Refinanced Indebtedness, any reasonable premium paid to the
holders of the Refinanced Indebtedness and reasonable expenses incurred in connection with the incurrence of the Permitted Refinancing Indebtedness; 
 (b) the obligor of Permitted Refinancing Indebtedness does not include any Person (other than Cedar Fair LP or any Subsidiary Guarantor) that is not an obligor of the Refinanced Indebtedness; 

(c) if the Refinanced Indebtedness was subordinated in right of payment to the Obligations then such Permitted Refinancing
Indebtedness, by its terms, is subordinate in right of payment to the Obligations; 
 (d) the Permitted
Refinancing Indebtedness has a final stated maturity either (a) no earlier than the Refinanced Indebtedness being repaid or amended or (b) after the maturity date of all outstanding Term Loans at the time such Permitted Refinancing
Indebtedness is incurred; 
 (e) the portion, if any, of the Permitted Refinancing Indebtedness that is scheduled
to mature on or prior to the maturity date of all then outstanding Term Loans has a Weighted Average Life to Maturity at the time such Permitted Refinancing Indebtedness is incurred that is equal to or greater than the Weighted Average Life to
Maturity of the portion of the Refinanced Indebtedness being repaid that is scheduled to mature on or prior to the maturity date of all then outstanding Term Loans; and 

(f) such Permitted Refinancing Indebtedness is not secured by any Liens on any assets of Cedar Fair LP or any of its
Subsidiaries other than assets that secured the Refinanced Indebtedness. 
 “Person”: an individual,
partnership, corporation, limited liability company, business trust, joint stock company, trust, unincorporated association, joint venture, Governmental Authority or other entity of whatever nature. 

“Plan”: at a particular time, any employee benefit plan that is covered by ERISA and in respect of which any Borrower or
a Commonly Controlled Entity is (or, if such plan were terminated at such time, would under 

  
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Section 4069 of ERISA be deemed to be) an “employer” as defined in Section 3(5) of ERISA, but excluding, for greater certainty, Canadian Benefit Plans and Canadian Pension Plans.

 “Pledged Stock”: as defined in the Guarantee and Collateral Agreement. 

“Pro Forma Basis”: as to any person, for any events as described below that occur subsequent to the commencement of a
period for which the financial effect of such events is being calculated, and giving effect to the events for which such calculation is being made, such calculation as will give pro forma effect to such events as if such events occurred on the first
day of the four consecutive fiscal quarter period ended on or before the occurrence of such event (the “Reference Period”): (i) in making any determination of Consolidated EBITDA, effect shall be given to any Asset Sale,
Permitted Acquisition, Restricted Payment, in each case that occurred during the Reference Period (or, in the case of determinations made pursuant to the definition of the term “Pro Forma Compliance” or pursuant to Sections 2.6, 8.2, 8.3,
8.4, 8.5, 8.6, 8.7, 8.8 or 8.10, occurring during the Reference Period or thereafter and through and including the date upon which the respective Permitted Acquisition or relevant transaction is consummated), (ii) in making any determination on
a Pro Forma Basis, (x) all Indebtedness (including Indebtedness issued, incurred or assumed as a result of, or to finance, any relevant transactions and for which the financial effect is being calculated, whether incurred under this Agreement
or otherwise, but excluding normal fluctuations in revolving Indebtedness incurred for working capital purposes, in each case not to finance any acquisition) issued, incurred, assumed or permanently repaid during the Reference Period (or, in the
case of determinations made pursuant to the definition of the term “Pro Forma Compliance” or pursuant to Sections 2.6, 8.2, 8.3, 8.4, 8.5, 8.6, 8.7, 8.8 or 8.10, occurring during the Reference Period or thereafter and through and including
the date upon which the respective Permitted Acquisition or relevant transaction is consummated) shall be deemed to have been issued, incurred, assumed or permanently repaid at the beginning of such period and (y) the interest expense of such
person attributable to interest on any Indebtedness, for which pro forma effect is being given as provided in preceding clause (x), bearing floating interest rates shall be computed on a pro forma basis as if the rates that would have been in effect
during the period for which pro forma effect is being given had been actually in effect during such periods. 
 Pro forma
calculations made pursuant to the definition of the term “Pro Forma Basis” shall be determined in good faith by a Responsible Officer of Cedar Fair LP and may include adjustments to give appropriate effect to cost savings and synergies
that are directly attributable to the relevant transaction, factually supportable and expected to have a continuing impact on the financial results of Cedar Fair LP and its Subsidiaries. Cedar Fair LP shall deliver to the Administrative Agent a
certificate of a financial officer of Cedar Fair LP setting forth calculations of any such pro forma adjustments supporting them in reasonable detail; provided that no adjustments for synergies or cost savings shall be made with respect to
such relevant transaction after the end of the first four consecutive fiscal quarters ended following such transaction. 

“Pro Forma Compliance”: at any date of determination, that Cedar Fair LP and its Subsidiaries shall be in compliance, on
a Pro Forma Basis after giving effect on a Pro Forma Basis to the relevant transactions (including the assumption, issuance, incurrence and permanent repayment of Indebtedness), with the financial condition covenants pursuant to Section 8.1
recomputed as at the last day of the most recently ended fiscal quarter of Cedar Fair LP and its Subsidiaries for which the financial statements and certificates required pursuant to Section 7.1 have been or were required to have been delivered
(provided, that prior to delivery of financial statements for the first full fiscal quarter ended after the Closing Date, such covenant shall be deemed to have applied to Cedar Fair LP’s most recently completed fiscal quarter).

 “Projections”: as defined in Section 7.2(c). 

“Properties”: as defined in Section 5.17(a). 

“Property”: collectively, any U.S. Property, any Canadian Property and any other right or interest in or to property of
any kind whatsoever whether now owned or hereafter acquired, whether real, personal or mixed and whether tangible or intangible, including, without limitation, Capital Stock. 
 “Proposed Discounted Prepayment Amount”: as defined in Section 4.1(b)(ii). 

  
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 “Qualified Counterparty”: (a) with respect to the ISDA Master
Agreement, together with the related schedules and confirmations, entered into between KeyBank National Association and the U.S. Borrower on June 23, 2006, KeyBank National Association, and (b) with respect to any other Specified
Agreement, any counterparty thereto that, at the time such Specified Agreement was entered into, was a Lender, an Affiliate of a Lender, an Agent or an Affiliate of an Agent; provided that, in the event a counterparty to a Specified Agreement
at the time such Specified Agreement was entered into was a Qualified Counterparty, such counterparty shall constitute a Qualified Counterparty hereunder and under the other Loan Documents. 

“Qualifying Lender”: as defined in Section 4.1(b)(iv). 

“Qualifying Loans”: as defined in Section 4.1(b)(iv). 

“Qualifying Senior Secured Debt”: any senior secured Indebtedness of Cedar Fair LP or any Subsidiary Guarantor, no part
of the principal of which is required to be paid (whether by way of mandatory sinking fund, mandatory redemption, mandatory prepayment or otherwise), prior to the date that is six months after the final maturity of the Term Loans outstanding on the
date on which such Indebtedness is incurred (it being understood that any required offer to purchase such Indebtedness as a result of a change of control or asset sale shall not violate the foregoing restriction) and which is subject to either
(i) the terms of the First Lien Intercreditor Agreement as “Additional First Lien Obligations” or (ii) the terms of the Second Lien Intercreditor Agreement as second lien obligations and, in each case, the terms and conditions of
which are otherwise reasonably satisfactory to the Administrative Agent. 
 “Qualifying Senior Unsecured Debt”:
any senior unsecured Indebtedness of Cedar Fair LP or any Subsidiary Guarantor, no part of the principal of which is required to be paid (whether by way of mandatory sinking fund, mandatory redemption, mandatory prepayment or otherwise), prior to
the date that is six months after the final maturity of the Term Loans outstanding on the date on which such Indebtedness is incurred (it being understood that any required offer to purchase such Indebtedness as a result of a change of control or
asset sale shall not violate the foregoing restriction) and the terms and conditions of which are otherwise reasonably satisfactory to the Administrative Agent. 
 “Recovery Event”: any settlement of or payment in respect of any property or casualty insurance claim or any condemnation proceeding relating to any asset of any Group Member. 

“Reference Period”: as defined in the definition of “Pro Forma Basis”. 

“Refinanced Indebtedness”: as defined in the definition of “Permitted Refinancing Indebtedness”. 

“Refinancing”: the repayment in full or deemed repayment in full, as the case may be, of the Existing Credit Agreement
and the termination of all commitments under the Existing Credit Agreement with the proceeds of the U.S. Term Loans and the Senior Notes. 
 “Refinancing Effective Date”: as defined in Section 2.4(a). 

“Refinancing Term Facility”: as defined in the definition of “Facility”. 

“Refinancing Term Lender”: as defined in Section 2.4(b). 

“Refinancing Term Loan Amendment”: as defined in Section 2.4(c). 

“Refinancing Term Loans”: as defined in Section 2.4(a). 

“Register”: as defined in Section 11.6(b)(iv). 

“Regulation U”: Regulation U of the Board as in effect from time to time. 

  
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 “Reimbursement Obligation”: the obligation of the Borrowers to reimburse
any Issuing Lender pursuant to Section 3.11 for amounts drawn under Letters of Credit. 

“Reinvestment Deferred Amount”: with respect to any Reinvestment Event, the aggregate Net Cash Proceeds
received by any Group Member in connection therewith that are not applied to prepay the Term Loans or the Revolving Loans pursuant to Section 4.2(c) as a result of the delivery of a Reinvestment Notice. 

“Reinvestment Event”: any Asset Sale or Recovery Event in respect of which Cedar Fair LP has delivered a Reinvestment
Notice; provided that no Reinvestment Notice may be delivered in respect of an Asset Sale made in reliance on Section 8.5(g). 
 “Reinvestment Notice”: a written notice executed by a Responsible Officer and delivered to the Administrative Agent stating that no Event of Default has occurred and is continuing and
that Cedar Fair LP (directly or indirectly through a Subsidiary) intends and expects to use all or a specified portion of the Net Cash Proceeds of an Asset Sale (other than an Asset Sale made in reliance on Section 8.5(g)) or Recovery Event to
acquire or repair fixed or capital assets useful in its business. 
 “Reinvestment Prepayment Amount”: with
respect to any Reinvestment Event, the Reinvestment Deferred Amount relating thereto less any amount expended prior to the relevant Reinvestment Prepayment Date to acquire or repair fixed or capital assets useful in Cedar Fair LP’s or its
Subsidiaries’ business. 
 “Reinvestment Prepayment Date”: with respect to any Reinvestment Event, the
earlier of (a) the date occurring 180 days after the receipt by Cedar Fair LP (directly or indirectly through a Subsidiary) of proceeds relating to such Reinvestment Event (or the 180th day after the last day of such 180 period if the
acquisition or repair of the applicable fixed or capital assets is a project authorized by the board of directors of Cedar Fair LP prior to such date and Cedar Fair LP or any of its Subsidiaries has entered into a contract to complete such project)
and (b) the date on which Cedar Fair LP shall have determined not to, or shall have otherwise ceased to, acquire or repair fixed or capital assets useful in Cedar Fair LP’s business with all or any portion of the relevant Reinvestment
Deferred Amount. 
 “Reorganization”: with respect to any Multiemployer Plan, the condition that such plan is
in reorganization within the meaning of Section 4241 of ERISA. 
 “Replacement Revolving Commitments”: as
defined in Section 3.15(a). 
 “Replacement Revolving Facility Amendment”: as defined in
Section 3.15(c). 
 “Replacement Revolving Facility Effective Date”: as defined in Section 3.15(a).

 “Replacement Revolving Lender”: as defined in Section 3.15(b). 

“Reportable Event”: any of the events set forth in Section 4043(b) of ERISA, other than those events as to which
the thirty day notice period is waived under subsection .27, .28, .29, .30, .31, .32, .34 or .35 of PBGC Reg. § 4043. 

“Required Lenders”: at any time, the Non-Defaulting Lenders holding more than 50% of the sum of (a) the aggregate
Term Commitments then in effect or, if the Term Commitments have been fully utilized or terminated, the aggregate unpaid principal amount of the Term Loans then outstanding and (b) the aggregate Revolving Commitments then in effect or, if the
Revolving Commitments have been terminated, the aggregate Revolving Extensions of Credit then outstanding; provided that in the case of any Revolving Extensions of Credit made in Canadian Dollars, such amounts shall be valued at the Dollar
Equivalent of such Canadian Dollars as of the relevant date of determination for purposes of this definition; provided further that the Loans, participations in L/C Obligations and unused Revolving Commitments held or deemed held by
any Defaulting Lender shall be excluded for purposes of making a determination of Required Lenders. 

  
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 “Requirement of Law”: as to any Person, the Certificate of Incorporation
and By Laws or other organizational or governing documents of such Person, and any law, treaty, rule or regulation or determination of an arbitrator or a court or other Governmental Authority, in each case applicable to or binding upon such Person
or any of its property or to which such Person or any of its property is subject. 
 “Responsible Officer”: the
chief executive officer, president or chief financial officer of Cedar Fair LP, but in any event, with respect to financial matters, the chief financial officer of Cedar Fair LP. 

“Restricted Payments”: as defined in Section 8.6. 

“Reuters Screen CDOR Page”: the display designated as page CDOR on the Reuters Monitor Money Rates Service or such other
page as may, from time to time, replace that page on that service for the purpose of displaying bid quotations for Bankers’ Acceptances accepted by leading Canadian banks. 

“Revolving Commitment Period”: in the case of the U.S. Revolving Commitments or Canadian Revolving Commitments, the
period from and including the Closing Date to the latest Revolving Termination Date for any U.S. Revolving Commitments or Canadian Revolving Commitments, as applicable. 
 “Revolving Commitments”: collectively, the U.S. Revolving Commitments and the Canadian Revolving Commitments. 
 “Revolving Credit Facilities”: collectively, the U.S. Revolving Facility and the Canadian Revolving Facility. 
 “Revolving Credit Percentage”: a Lender’s Canadian Revolving Credit Percentage or U.S. Revolving Credit Percentage, as the context requires. 

“Revolving Extensions of Credit”: at any time, the aggregate U.S. Revolving Extensions of Credit and Canadian Revolving
Extensions of Credit. 
 “Revolving Lender”: each U.S. Revolving Lender and Canadian Revolving Lender.

 “Revolving Loans”: collectively, the U.S. Revolving Loans and the Canadian Revolving Loans. 

“Revolving Note”: as defined in Section 4.14(d). 

“Revolving Termination Date”: (i) with respect to the U.S. Revolving Commitments and Canadian Revolving Commitments
in effect on the Closing Date, the Initial Revolving Termination Date and (ii) with respect to the Replacement Revolving Commitments, the date specified in the applicable Replacement Revolving Facility Amendment. 

“Schedule I Lender”: any Lender named on Schedule I to the Bank Act (Canada). 

“Schedule II Lender”: any Lender named on Schedule II or Schedule III to the Bank Act (Canada). 

“Schedule II Reference Lenders”: National City (Canadian Branch of National City Bank) and Fifth Third Bank. 

“SEC”: the Securities and Exchange Commission, any successor thereto and any analogous Governmental Authority.

 “Second Lien Collateral Agent”: the collateral agent identified in the Second Lien Intercreditor Agreement.

  
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 “Second Lien Intercreditor Agreement”: an agreement, by and among the
Collateral Agent, the Additional First Lien Collateral Agent, if any, the Second Lien Collateral Agent and the authorized representatives from time to time party thereto, in form and substance customary and reasonably satisfactory to the Collateral
Agent and in any case, on terms no less favorable to the Lenders than the First Lien Intercreditor Agreement. 

“Secured Parties”: the U.S. Secured Parties and the Canadian Secured Parties. 

“Security Agreement (Canada)”: the Security Agreement executed and delivered by the Canadian Borrower, substantially in
the form of Exhibit M. 
 “Security Documents”: the collective reference to the U.S. Security Documents, the
Canadian Security Documents, the Mortgages, and all other security documents hereafter delivered to the Collateral Agent granting or perfecting a Lien on any Property of any Person to secure the obligations and liabilities of any Loan Party under
the Loan Documents (including, without limitation, all financing statements filed in connection therewith, any intellectual property security agreements, blocked account agreements or control agreements that may be required to be delivered pursuant
to this Agreement or any other Loan Document, and all other security documents hereafter delivered to the Collateral Agent granting or perfecting a Lien on any Property of any Person to secure the obligations and liabilities of any Loan Party under
any Loan Document), any such document, agreement or instrument is amended, supplemented, replaced or otherwise modified from time to time. 
 “Senior Notes”: 9.125% Senior Unsecured Notes due 2018 pursuant to an Indenture dated as of July 29, 2010, by and among the Borrowers, the guarantors signatory thereto and The Bank
of New York Mellon, as trustee. 
 “Senior Secured Leverage Ratio”: on any date, the ratio of (a) Total
First Lien Senior Secured Debt as of the last day of such period most recently ended as of such date to (b) Consolidated EBITDA for such period most recently ended as of such date, all determined on a consolidated basis in accordance with GAAP;
provided that the Senior Secured Leverage Ratio shall be determined for such period on a Pro Forma Basis. 

“Series”: as defined in Section 2.4(b). 
 “Single Employer Plan”: any Plan that is covered by Title IV of ERISA, but that is not a Multiemployer Plan. 
 “Solvent”: when used with respect to any Person, means that, as of any date of determination, (a) the amount of the “present fair saleable value” of the assets of such
Person will, as of such date, exceed the amount of all “liabilities of such Person, contingent or otherwise”, as of such date, as such quoted terms are determined in accordance with applicable federal and state laws governing
determinations of the insolvency of debtors, (b) the “present fair saleable value” of the assets of such Person will, as of such date, be greater than the amount that will be required to pay the liability of such Person on its debts
as such debts become absolute and matured, (c) such Person will not have, as of such date, an unreasonably small amount of capital with which to conduct its business, and (d) such Person will be able to pay its debts as they mature. For
purposes of this definition, (i) “debt” means liability on a “claim”, and (ii) “claim” means any (x) 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 (y) right to an equitable remedy for breach of performance if such breach gives rise to a right to payment, whether or not such right to an
equitable remedy is reduced to judgment, fixed, contingent, matured or unmatured, disputed, undisputed, secured or unsecured. 

“Specified Agreement”: as defined in the Guarantee and Collateral Agreement. 

“Specified Hedge Agreement”: (a) the ISDA Master Agreement, together with the related schedules and confirmations,
entered into between KeyBank National Association and the U.S. Borrower on June 23, 2006, and (b) any Hedge Agreement (i) entered into after the Closing Date by (A) any Loan Party and (B) any Qualified Counterparty, as
counterparty and (ii) that has been designated by such Qualified Counterparty and any Loan Party, by notice to the Administrative Agent, as a Specified Hedge Agreement provided, that any release of Collateral or Subsidiary Guarantors
effected in the manner permitted by this Agreement shall not require the consent of holders of 

  
 -26-

 
obligations under Specified Hedge Agreements. The designation of any Hedge Agreement as a Specified Hedge Agreement shall not create in favor of any Qualified Counterparty that is a party thereto
any rights in connection with the management or release of any Collateral or of the obligations of any Subsidiary Guarantor under the Guarantee and Collateral Agreement except as provided in Section 11.14. 

“Statutory Prior Claims”: claims for vacation pay, worker’s compensation, unemployment insurance, pension plan
contributions, employee or non-resident withholding tax source deductions, unremitted goods and services or sales taxes, realty taxes (including utility charges which are collectible like realty taxes), customs duties or similar statutory
obligations secured by a Lien on any Group Member’s assets. 
 “Subject Fiscal Year”: as defined in
Section 4.2(d). 
 “Subordinated Debt”: any unsecured Indebtedness of Cedar Fair LP, no part of the
principal of which is required to be paid (whether by way of mandatory sinking fund, mandatory redemption, mandatory prepayment or otherwise), prior to the date that is six months after the final maturity of the Term Loans (it being understood that
any required offer to purchase such Indebtedness as a result of a change of control or asset sale shall not violate the foregoing restriction) and the terms and conditions of which (including subordination provisions consistent with those prevailing
in debt capital markets of the United States) are otherwise satisfactory to the Administrative Agent. 
 “Subordinated
Debt Indenture”: the indenture pursuant to which any Subordinated Debt is issued. 
 “Subordinated Intercompany
Note”: as defined in the Guarantee and Collateral Agreement. 
 “Subsidiary”: as to any Person, a
corporation, partnership, limited liability company or other entity of which shares of stock or other ownership interests having ordinary voting power (other than stock or such other ownership interests having such power only by reason of the
happening of a contingency) to elect a majority of the board of directors or other managers of such corporation, partnership or other entity are at the time owned, or the management of which is otherwise controlled, directly or indirectly through
one or more intermediaries, or both, by such Person. Unless otherwise qualified, all references to a “Subsidiary” or to “Subsidiaries” in this Agreement shall refer to a Subsidiary or Subsidiaries of Cedar Fair LP. 

“Subsidiary Guarantor”: each wholly-owned U.S. or Canadian Subsidiary of Cedar Fair LP, other than any Excluded Foreign
Subsidiary and any Subsidiary that is not a Material Subsidiary (provided that the aggregate assets of all such Subsidiaries that are not Material Subsidiaries and are not Subsidiary Guarantors shall not exceed ten percent (10%) of the
consolidated assets of Cedar Fair LP and shall not represent more than ten percent (10%) of Consolidated EBITDA in any fiscal year) and any other Subsidiary that, at the option of the U.S. Borrower, issues a guarantee of the Obligations after
the Closing Date. 
 “Successor”: as defined in Section 8.4(c). 

“Swing Line Lender”: each of the U.S. Swing Line Lender and the Canadian Swing Line Lender. 

“Swing Line Loan Maturity Date”: with respect to any Swing Line Loan, the earlier of (a) the date that is agreed to
by the applicable Swing Line Lender and the applicable Borrower with respect to such Swing Line Loan, but in no event later than fifteen (15) days after the date such Swing Line Loan is made, and (b) the Revolving Termination Date for the
applicable Revolving Credit Facility. 
 “Swing Line Loans”: collectively, the U.S. Swing Line Loans and the
Canadian Swing Line Loans. 
 “Swing Line Sub Commitment”: (i) as to any U.S. Swing Line Lender, its U.S.
Swing Line Sub Commitment and (ii) as to any Canadian Swing Line Lender, its Canadian Swing Line Sub Commitment. 

“Taxes”: as defined in Section 4.10(a). 

  
 -27-

 “Term Commitments”: the U.S. Term Commitments, any Additional U.S. Term-1
Commitment and any Incremental Term Commitment. 
 “Term Lender”: each U.S. Term Lender, each U.S. Term-1
Lender, each Incremental Term Lender, each Refinancing Term Lender and each Extending Term Lender. 
 “Term Loan
Extension Amendment”: as defined in Section 2.5(c). 
 “Term Loans”: collectively, each U.S. Term
Loan, each U.S. Term-1 Loan, each Incremental Term Loan, each Extended Term Loan and each Refinancing Term Loan. 

“Term Note”: as defined in Section 4.14(d). 

“Title Policy”: with respect to each Mortgage, a policy of title insurance (or marked up title insurance commitment
having the effect of a policy of title insurance) insuring the Lien of such Mortgage as a valid first mortgage Lien on the Mortgaged Property and fixtures described therein, free and clear of all Liens other than Liens permitted pursuant to clauses
(a), (b), (e), (h), (i), (k) and (m) of Section 8.3, in an amount not in excess of the fair market value of such Mortgaged Property and fixtures as determined by Cedar Fair LP in good faith as reasonably acceptable to the Collateral
Agent, provided that the total value of all Title Policies, in the aggregate, shall not exceed the total amount of the Obligations. 
 “Total First Lien Senior Secured Debt” at any date shall mean the aggregate principal amount of Consolidated Total Debt of Cedar Fair LP and its Subsidiaries outstanding at such date that
consists of, without duplication, (i) Capital Lease Obligations and (ii) other Indebtedness of the type described in clauses (a) through (e), inclusive, of the definition of such term (other than Indebtedness in respect of the
Revolving Loans) that in each case is then secured by Liens on property or assets of Cedar Fair LP or its Subsidiaries (other than (x) property or assets held in a defeasance or similar trust or arrangement for the benefit of the Indebtedness
secured thereby and (y) Liens that are expressly subordinated to the Liens securing the Obligations). 

“Transferee”: any Assignee or Participant. 
 “Type”: as to any Loan, its nature as a Base Rate Loan, a Canadian Prime Rate Loan, a BA Loan or a Eurodollar Loan. 

“United States”: the United States of America. 
 “U.S. Borrower”: as defined in the preamble hereto. 

“U.S. Co-Borrower”: as defined in the preamble to this Agreement. 

“U.S. Facilities”: collectively, the U.S. Term Facility, the U.S. Term-1 Facility, the U.S. Revolving Facility, any
Incremental Term Facility, any Extended Term Facility and any Refinancing Term Facility. 
 “U.S. Issuing
Lender”: JPMorgan Chase Bank, N.A., or any other U.S. Revolving Lender from time to time designated by Cedar Fair LP as the U.S. Issuing Lender with the consent of such U.S. Revolving Lender and the Administrative Agent. 

“U.S. L/C Obligations”: at any time, an amount equal to the sum of (a) the then aggregate undrawn and unexpired
amount of the then outstanding U.S. Letters of Credit and (b) the aggregate amount of drawings under the U.S. Letters of Credit that have not then been reimbursed pursuant to Section 3.11. 

“U.S. L/C Participants”: with respect to any U.S. Letter of Credit, the collective reference to the U.S. Revolving
Lenders other than the U.S. Issuing Lender that issued such U.S. Letter of Credit. 
 “U.S. L/C Sub
Commitment”: $30,000,000. 

  
 -28-

 “U.S. Lenders”: each of the U.S. Revolving Lenders, the U.S. Term Lenders,
the U.S. Term-1 Lenders and any Lender with an Incremental Term Loan, Extended Term Loan or Refinancing Term Loan. 

“U.S. Letters of Credit”: as defined in Section 3.7(a). 

“U.S. Loans”: each of the U.S. Revolving Loans, the U.S. Term Loans, the U.S. Term-1 Loans, any Incremental Term Loans
and any Extended Term Loans or Refinancing Term Loans. 
 “U.S. Obligations”: the obligations of the U.S.
Borrower and U.S. Co-Borrower to pay the unpaid principal of and interest on (including, without limitation, interest accruing after the maturity of the U.S. Loans and U.S. Reimbursement Obligations (and the Canadian Revolving Loans made to the U.S.
Borrower and Canadian Reimbursement Obligations of the U.S. Borrower) and interest accruing after the filing of any petition in bankruptcy, or the commencement of any insolvency, reorganization or like proceeding, relating to the U.S. Borrower or
the U.S. Co-Borrower, whether or not a claim for post filing or post petition interest is allowed in such proceeding) the U.S. Loans, the U.S. Reimbursement Obligations (and the Canadian Revolving Loans made to the U.S. Borrower and Canadian
Reimbursement Obligations of the U.S. Borrower) and all other obligations and liabilities of the U.S. Borrower or the U.S. Co-Borrower to the Secured Parties, whether direct or indirect, absolute or contingent, due or to become due, or now existing
or hereafter incurred, which may arise under, out of, or in connection with, this Agreement, any other Loan Document, the U.S. Letters of Credit or any other document made, delivered or given in connection herewith or therewith, whether on account
of principal, interest, reimbursement obligations, fees, indemnities, costs, expenses (including, without limitation, all fees, charges and disbursements of counsel to the co-lead arrangers and bookrunners, to the Agents or to any Lender that are
required to be paid by the U.S. Borrower or the U.S. Co-Borrower pursuant hereto or thereto) or otherwise. 
 “U.S.
Property”: any right or interest in or to property of any kind whatsoever, whether real, personal or mixed and whether tangible or intangible, in each case as and while located in the United States, including, without limitation, the
Capital Stock of any Person formed and existing under the laws of the United States or any State or subdivision thereof. 

“U.S. Refunded Swing Line Loans”: as defined in Section 3.4(b). 

“U.S. Refunding Date”: as defined in Section 3.4(c). 

“U.S. Reimbursement Obligations”: the Reimbursement Obligations owing by the U.S. Borrower. 

“U.S. Revolving Commitment”: as to any U.S. Revolving Lender, the obligation of such Lender, if any, to make U.S.
Revolving Loans and participate in U.S. Swing Line Loans and U.S. Letters of Credit, in an aggregate principal and/or face amount not to exceed the amount set forth under the heading “U.S. Revolving Commitment” under such Lender’s
name on (i) on Schedule 1.2 or (ii) as the case may be, in the Assignment and Assumption pursuant to which such Lender becomes a party hereto, as the same may be changed from time to time pursuant to the terms hereof (including
pursuant to Section 2.6). The aggregate amount of U.S. Revolving Commitments as of the Closing Date is Two Hundred Forty Five Million Dollars ($245,000,000). For the avoidance of doubt, all Replacement Revolving Commitments in favor of the U.S.
Borrower (and not in favor of both the U.S. Borrower and the Canadian Borrower) shall constitute “U.S. Revolving Commitments” for all purposes of this Agreement. 
 “U.S. Revolving Credit Percentage”: as to any U.S. Revolving Lender at any time, the percentage which such Lender’s U.S. Revolving Commitment then constitutes of the aggregate U.S.
Revolving Commitments (or, at any time after the U.S. Revolving Commitments shall have expired or terminated, the percentage which the aggregate amount of such Lender’s U.S. Revolving Extensions of Credit then outstanding constitutes of the
amount of the aggregate U.S. Revolving Extensions of Credit then outstanding); provided that in the case of Section 4.16 when a Defaulting Lender shall exist, “U.S. Revolving Credit Percentage” shall mean the percentage of the
total U.S. Revolving Commitments (disregarding any Defaulting Lender’s U.S. Revolving Commitment) represented by such Lender’s U.S. Revolving Commitment. 

  
 -29-

 “U.S. Revolving Extensions of Credit”: as to any U.S. Revolving Lender at
any time, an amount equal to the sum of (a) the aggregate principal amount of all U.S. Revolving Loans made by such Lender then outstanding, (b) such Lender’s U.S. Revolving Credit Percentage of the U.S. L/C Obligations then
outstanding and (c) such Lender’s U.S. Revolving Credit Percentage of the U.S. Swing Line Loans then outstanding. 

“U.S. Revolving Facility”: as defined in the definition of “Facility” in this Section 1.1. 

“U.S. Revolving Lender”: each Lender that has a U.S. Revolving Commitment or that is the holder of U.S. Revolving Loans,
including institutions that, in separate capacities, serve as the U.S. Issuing Lender. 
 “U.S. Revolving
Loans”: as defined in Section 3.1(a). 
 “U.S. Secured Parties”: the collective reference to the
Lenders under the U.S. Facilities, the Agents, the Qualified Counterparties under Specified Agreements entered into by the U.S. Borrower, the U.S. Co-Borrower or any Subsidiary Guarantor, the U.S. Issuing Lenders and the U.S. Swing Line Lenders.

 “U.S. Security Documents”: collectively, (a) the Guarantee and Collateral Agreement, (b) all other
documents delivered to the Collateral Agent granting or perfecting a Lien on U.S. Property of any Person, including, without limitation, all financing statements filed in connection therewith, any intellectual property security agreements, blocked
account agreements or control agreements that may be required to be delivered pursuant to this Agreement or any other Loan Document with respect to such U.S. Property, and all other security documents hereafter delivered to the Collateral Agent
granting or perfecting a Lien on such U.S. Property of any Person to secure the obligations and liabilities of any Loan Party under any Loan Document and (c) to the extent such agreements become effective, the First Lien Intercreditor Agreement
and the Second Lien Intercreditor Agreement. 
 “U.S. Swing Line Lender”: JPMorgan Chase Bank, N.A., and each
other Lender that has a U.S. Swing Line Sub Commitment or that is a holder of U.S. Swing Line Loans; provided, that there shall be no more than one U.S. Swing Line Lender at any time. 

“U.S. Swing Line Loans”: as defined in Section 3.3(a) 

“U.S. Swing Line Participation Amount”: as defined in Section 3.4(c). 

“U.S. Swing Line Sub Commitment”: the obligation of the U.S. Swing Line Lender to make U.S. Swing Line Loans pursuant to
Section 3.4 in an aggregate principal amount at any one time outstanding not to exceed Thirty Million Dollars ($30,000,000). 
 “U.S. Term Commitment”: as to any U.S. Term Lender, the obligation of such Lender, if any, to make a U.S. Term Loan in an aggregate principal amount not to exceed the amount set forth
(i) under the heading “U.S. Term Commitment” opposite such Lender’s name on Schedule 1.2 or (ii) in the Assignment and Assumption pursuant to which such Lender became a party hereto, as the same may be changed from
time to time pursuant to the terms hereof. The aggregate amount of U.S. Term Commitments as of the Closing Date is One Billion One Hundred Seventy-Five Million Dollars ($1,175,000,000). 

“U.S. Term Facility”: as defined in the definition of “Facility” in this Section 1.1. 

“U.S. Term Lender”: each Lender that has a U.S. Term Commitment or that is the holder of U.S. Term Loans. 

“U.S. Term Loans”: as defined in Section 2.1(a). 

“U.S. Term-1 Facility”: as defined in the definition of “Facility” in this Section 1.1. 

“U.S. Term-1 Facility Maturity Date”: as defined in Section 2.3(a). 

  
 -30-

 “U.S. Term-1 Lender”: each Lender that has an Additional U.S. Term-1
Commitment or that is the holder of U.S. Term-1 Loans. 
 “U.S. Term-1 Loans”: as defined in
Section 2.1(b). 
 “USA Patriot Act”: the USA Patriot Act, Title III of Pub. L. 107-56 (signed into law
October 26, 2001). 
 “Weighted Average Life to Maturity”: when applied to any Indebtedness at any date,
the number of years obtained by dividing (1) the sum of the products obtained by multiplying (a) the amount of each then remaining installment, sinking fund, serial maturity or other required payment of principal, including payment at
final maturity, in respect thereof by (b) the number of years (calculated to the nearest one-twelfth) that will elapse between such date and the making of such payment by (2) the then outstanding principal amount of such Indebtedness.

 “Wholly Owned Subsidiary”: as to any Person, any other Person all of the Capital Stock of which (other than
directors’ qualifying shares required by law) is owned by such Person directly and/or through other Wholly Owned Subsidiaries. 
 “Yield”: for any Term Loan on any date on which any “Yield” is required to be calculated hereunder will be the internal rate of return on such Term Loan determined by the
Administrative Agent in consultation with the U.S. Borrower utilizing (a) the greater of (i) if applicable, any “LIBOR floor” applicable to such Term Loan on such date and (ii) the forward LIBOR curve (calculated on a
quarterly basis) as calculated by the Administrative Agent in accordance with its customary practice during the period from such date to the earlier of (x) the date that is four years following such date and (y) the maturity date of such
Term Loan; (b) the Applicable Margin for such Term Loan on such date (other than any component thereof in the form of a “LIBOR floor” which shall be determined pursuant to clause (a) above); and (c) the issue price of such
Term Loan (after giving effect to any original issue discount or upfront fees paid to the market in respect of such Term Loan calculated based on an assumed four year average life to maturity). 

1.2. Other Definitional Provisions. 
 (a) Unless otherwise specified therein, all terms defined in this Agreement shall have the defined meanings when used in the other Loan Documents or any certificate or other document made or delivered
pursuant hereto or thereto. 
 (b) As used herein and in the other Loan Documents, and any certificate or other
document made or delivered pursuant hereto or thereto, (i) accounting terms relating to any Group Member not defined in Section 1.1 and accounting terms partly defined in Section 1.1, to the extent not defined, shall have the
respective meanings given to them under GAAP, (ii) the words “include”, “includes” and “including” shall be deemed to be followed by the phrase “without limitation”, (iii) the word “incur”
shall be construed to mean incur, create, issue, assume, become liable in respect of or suffer to exist (and the words “incurred” and “incurrence” shall have correlative meanings), (iv) 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, Capital Stock, securities, revenues, accounts, leasehold interests and contract
rights, and (v) references to agreements or other Contractual Obligations shall, unless otherwise specified, be deemed to refer to such agreements or Contractual Obligations as amended, supplemented, restated or otherwise modified from time to
time (subject to any applicable restrictions hereunder). 
 (c) The words “hereof”, “herein”
and “hereunder” and words of similar import when used in this Agreement shall refer to this Agreement as a whole and not to any particular provision of this Agreement, and Section, Schedule and Exhibit references are to this Agreement
unless otherwise specified. 
 (d) The meanings given to terms defined herein shall be equally applicable to both
the singular and plural forms of such terms. 

  
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 (e) Except as otherwise expressly provided herein, all terms of an
accounting or financial nature shall be construed in accordance with GAAP; provided that, if either Cedar Fair LP notifies the Administrative Agent that it requests an amendment to any provision hereof to eliminate the effect of any change
occurring after the date hereof in GAAP or in the application thereof on the operation of such provision, or if the Administrative Agent notifies Cedar Fair LP that the Required Lenders request an amendment to any provision hereof for such purpose,
regardless of whether any such notice is given before or after such change in GAAP or in the application thereof, then such provision shall be interpreted on the basis of GAAP as in effect and applied immediately before such change shall have become
effective until such notice shall have been withdrawn or such provision amended in accordance herewith. 
 (f)
Unless the context requires otherwise, for purposes of interpreting the definitions herein and the provisions of Sections 7, 8 and 9, references to amounts denominated in Dollars shall be deemed to refer to the aggregate of, to the extent applicable
to Cedar Fair LP and/or its Subsidiaries in question, (i) Dollars, (ii) the Dollar Equivalent of Canadian Dollars and (iii) the equivalent in Dollars of other foreign currencies. 

1.3. Joint and Several Liability of Borrowers for Term Loans. All Term Loans made hereunder are made to or for the mutual benefit,
directly and indirectly, of the Borrowers, collectively, and in consideration of the agreement of each Borrower to accept joint and several liability for the Obligations with respect to the Term Loans. Each Borrower, jointly and severally, hereby
irrevocably and unconditionally accepts, not merely as a surety but also as a co-debtor, joint and several and direct and primary liability for the full payment when due and performance of all Obligations in respect of the Term Loans and each such
Borrower agrees that such liability is independent of the duties, obligations and liabilities of each of the joint and several Borrowers. In furtherance of the foregoing, each of the Borrowers, jointly and severally, absolutely and unconditionally
guarantees to the Administrative Agent, the Collateral Agent, the Lenders and the other Secured Parties the full payment and performance when due of all the Obligations in respect of the Term Loans. 

SECTION 2. AMOUNT AND TERMS OF TERM COMMITMENTS 
 2.1. Term Commitments. 
 (a) Subject to the terms and
conditions hereof, each U.S. Term Lender severally agrees to make a term loan to the Borrowers in Dollars (each, a “U.S. Term Loan”) on the Closing Date in an amount not to exceed the amount of the U.S. Term Commitment of such
Lender. The U.S. Term Loans may from time to time be Eurodollar Loans or Base Rate Loans, as determined by the U.S. Borrower and notified to the Administrative Agent in accordance with Sections 2.2 and 4.3. Amounts repaid under the U.S. Term
Facility may not be reborrowed. 
 (b)(i) The Additional U.S. Term-1 Lender agrees to make a term loan to the
Borrowers in Dollars (a “U.S. Term-1 Loan”) on the Amendment No. 1 Effective Date in an amount not to exceed the amount of the Additional U.S. Term-1 Commitment and (ii) each Converted U.S. Term Loan of each Amendment
No. 1 Consenting Lender shall be converted into a U.S. Term-1 Loan of such Lender effective as of the Amendment No. 1 Effective Date in a principal amount equal to the principal amount of such Lender’s Converted U.S. Term Loan
immediately prior to such conversion. For the avoidance of doubt, such conversion shall not constitute a novation of any interest owing to any Amendment No. 1 Consenting Lender and each Amendment No. 1 Consenting Lender shall continue to
be entitled to receive all accrued and unpaid interest owing to it from the Borrowers through but not including the Amendment No. 1 Effective Date with respect to its Converted U.S. Term Loan. The U.S. Term-1 Loans may from time to time be
Eurodollar Loans or Base Rate Loans, as determined by the U.S. Borrower and notified to the Administrative Agent in accordance with Sections 2.2 and 4.3. Amounts repaid under the U.S. Term-1 Facility may not be reborrowed. 

2.2. Procedure for Term Loan Borrowing. 
 (a) The Borrowers shall give the Administrative Agent irrevocable notice (which notice must be received by the Administrative Agent prior to 10:00 A.M., New York City time, one Business Day

  
 -32-

 
prior to the anticipated Closing Date) requesting that the U.S. Term Lenders make U.S. Term Loans on the Closing Date and specifying the amount to be borrowed. Upon receipt of such notice the
Administrative Agent shall promptly notify each U.S. Term Lender thereof. 
 (b) Not later than 1:00 P.M., New
York City time, on the Closing Date, each U.S. Term Lender shall make available to the Administrative Agent at the Funding Office an amount in immediately available funds equal to the U.S. Term Loan or U.S. Term Loans to be made by such U.S. Term
Lender. The Administrative Agent shall credit the account of the Borrowers on the books of such office of the Administrative Agent with the aggregate of the amounts made available to the Administrative Agent by the U.S. Term Lenders in immediately
available funds. 
 (c) The procedures for the funding of Refinancing Term Loans shall be as set forth in the
applicable Refinancing Term Loan Amendment and the procedures for the funding of Incremental Term Loans shall be as set forth in the applicable Incremental Amendment. 

(d) Not later than 1:00 P.M., New York City time, on the Amendment No. 1 Effective Date, the Additional U.S. Term-1
Lender shall make available to the Administrative Agent at the Funding Office an amount in immediately available funds equal to the U.S. Term-1 Loan to be made by such Additional U.S. Term-1 Lender pursuant to its Additional Term-1 Loan Commitment.
The Administrative Agent shall credit the account of the Borrowers on the books of such office of the Administrative Agent with the aggregate of the amounts made available to the Administrative Agent by the Additional U.S. Term-1 Lender in
immediately available funds 
 2.3. Repayment of U.S. Term-1 Loans. 

(a) The U.S. Term-1 Loans shall mature in 28 consecutive installments, commencing on March 31, 2011, each of which
shall be in an aggregate amount equal to the amount set forth below opposite such installment, with the remaining balance to be repaid on December 15, 2017 (the “U.S. Term-1 Facility Maturity Date”) (each such scheduled
repayment reduced on a pro rata basis to the extent any U.S. Term-1 Loans are converted to Extended Term Loans): 
  

			
	 INSTALLMENT
	  	PRINCIPAL AMOUNT
	 March 31, 2011
	  	$2,950,000
	 June 30, 2011
	  	$2,950,000
	 September 30, 2011
	  	$2,950,000
	 December 31, 2011
	  	$2,950,000
	 March 31, 2012
	  	$2,950,000
	 June 30, 2012
	  	$2,950,000
	 September 30, 2012
	  	$2,950,000
	 December 31, 2012
	  	$2,950,000
	 March 31, 2013
	  	$2,950,000
	 June 30, 2013
	  	$2,950,000
	 September 30, 2013
	  	$2,950,000
	 December 31, 2013
	  	$2,950,000
	 March 31, 2014
	  	$2,950,000
	 June 30, 2014
	  	$2,950,000
	 September 30, 2014
	  	$2,950,000
	 December 31, 2014
	  	$2,950,000
	 March 31, 2015
	  	$2,950,000
	 June 30, 2015
	  	$2,950,000
	 September 30, 2015
	  	$2,950,000
	 December 31, 2015
	  	$2,950,000
	 March 31, 2016
	  	$2,950,000
	 June 30, 2016
	  	$2,950,000

  
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	 INSTALLMENT
	  	PRINCIPAL AMOUNT
	 September 30, 2016
	  	$2,950,000
	 December 31, 2016
	  	$2,950,000
	 March 31, 2017
	  	$2,950,000
	 June 30, 2017
	  	$2,950,000
	 September 30, 2017
	  	$2,950,000
	 U.S. Term-1 Facility Maturity Date
	  	Entire remaining principal
amount of U.S.
Term-1 Loans

(b) The Refinancing Term Loans of any Series shall mature as provided in the applicable Refinancing Term Loan Amendment.

 (c) The Extended Term Loans of any Extension Series shall mature as provided in the applicable Extended Term
Loan Amendment. 
 (d) The Incremental Term Loans of any Incremental Series shall mature as provided in the
applicable Incremental Amendment. 
 2.4. Refinancing Term Loans. 

(a) The Borrowers may by written notice to Administrative Agent elect to request the establishment of one or
more additional tranches of term loans denominated in Dollars under this Agreement (“Refinancing Term Loans”) to refinance outstanding U.S. Term-1 Loans. Each such notice shall specify the date (each, a “Refinancing
Effective Date”) on which the Borrowers propose that the Refinancing Term Loans shall be made, which shall be a date not less than five Business Days after the date on which such notice is delivered to the Administrative Agent;
provided that: 
 (i) before and after giving effect to the borrowing of such Refinancing Term Loans on
the Refinancing Effective Date each of the conditions set forth in Section 6.2 shall be satisfied; 
 (ii)
such Refinancing Term Loans shall mature no earlier than, and the Weighted Average Life to Maturity of such Refinancing Term Loans shall not be shorter than the then remaining Weighted Average Life to Maturity of the U.S. Term-1 Loans at the time of
such refinancing (or if longer, shall have a minimum Weighted Average Life to Maturity required pursuant to any previously established Refinancing Term Loan Amendment or Term Loan Extension Amendment); 

(iii) all other terms applicable to such Refinancing Term Loans (other than provisions relating to original issue
discount, upfront fees and interest rates which shall be as agreed between the applicable Borrower and the Lenders providing such Refinancing Term Loans) shall be substantially identical to, or less favorable to the Lenders providing such
Refinancing Term Loans than, those applicable to the then outstanding Term Loans except to the extent such covenants and other terms apply solely to any period after the latest final maturity of the Term Loans and Revolving Commitments in effect on
the Refinancing Effective Date immediately prior to the borrowing of such Refinancing Term Loans; 
 (iv) the
Loan Parties and the Collateral Agent shall enter into such amendments to the Security Documents as may be requested by the Collateral Agent (which shall not require any consent from any Lender) in order to ensure that the Refinancing Term Loans are
provided with the benefit of the applicable Security Documents and shall deliver such other documents, certificates and opinions of counsel in connection therewith as may be requested by the Collateral Agent; and 

(v) the Net Cash Proceeds of the Refinancing Term Loans shall be applied to the repayment of the then outstanding U.S.
Term-1 Loans in accordance with Section 4.2(b). 

  
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 (b) The Borrowers may approach any Lender or any other Person that would be
a permitted Assignee pursuant to Section 11.6 to provide all or a portion of the Refinancing Term Loans (a “Refinancing Term Lender”); provided that any Lender offered or approached to provide all or a portion of the
Refinancing Term Loans may elect or decline, in its sole discretion, to provide a Refinancing Term Loan. Any Refinancing Term Loans made on any Refinancing Effective Date shall be designated a series (a “Series”) of Refinancing Term
Loans for all purposes of this Agreement; provided that any Refinancing Term Loans may, to the extent provided in the applicable Refinancing Term Loan Amendment, be designated as an increase in any previously established Series of Refinancing
Term Loans made to the Borrowers. 
 (c) The Refinancing Term Loans shall be established pursuant to an amendment
to this Agreement among the Borrowers, the Administrative Agent and the Refinancing Term Lenders providing such Refinancing Term Loans (a “Refinancing Term Loan Amendment”) which shall be consistent with the provisions set forth in
paragraph (a) above (which shall not require the consent of any other Lender). Each Refinancing Term Loan Amendment shall be binding on the Lenders, the Loan Parties and the other parties hereto. 

2.5. Extended Term Loans. 
 (a) The Borrowers may at any time and from time to time request that all or a portion of the Term Loans under any Facility (an “Existing Term Loan Facility”) be converted to extend the
scheduled maturity date(s) of any payment of principal with respect to all or a portion of any principal amount of such Term Loans (any such Term Loans which have been so converted, “Extended Term Loans”) and to provide for other
terms consistent with this Section 2.5. In order to establish any Extended Term Loans, the Borrowers shall provide a notice to the Administrative Agent (who shall provide a copy of such notice to each of the Lenders under the applicable
Existing Term Loan Facility) (an “Extension Request”) setting forth the proposed terms of the Extended Term Loans to be established which shall be identical to the Term Loans under the Existing Term Loan Facility from which such
Extended Term Loans are to be converted except that: 
 (i) all or any of the scheduled amortization payments of
principal of the Extended Term Loans may be delayed to later dates than the scheduled amortization payments of principal of the Term Loans of such Existing Term Loan Facility to the extent provided in the applicable Term Loan Extension Amendment;

 (ii) the interest margins with respect to the Extended Term Loans may be different than the interest margins
for the Term Loans of such Existing Term Loan Facility and upfront fees may be paid to the Extending Term Lenders, in each case, to the extent provided in the applicable Term Loan Extension Amendment; 

(iii) the Term Loan Extension Amendment may provide for other covenants and terms that apply solely to any period after
the latest final maturity of the Term Loans and Revolving Commitments in effect on the effective date of the Term Loan Extension Amendment immediately prior to the establishment of such Extended Term Loans; and 

(iv) no Extended Term Loans may be optionally prepaid prior to the date on which the Term Loans under the Existing Term
Loan Facility from which they were converted are repaid in full unless such optional prepayment is accompanied by a pro rata optional prepayment of the Term Loans under such Existing Term Loan Facility. 

Any Extended Term Loans converted pursuant to any Extension Request shall be designated a series (an “Extension Series”)
of Extended Term Loans for all purposes of this Agreement; provided that any Extended Term Loans converted from an Existing Term Loan Facility may, to the extent provided in the applicable Term Loan Extension Amendment, be designated as an
increase in any previously established Extension Series with respect to such Existing Term Loan Facility. 

  
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 (b) The Borrowers shall provide the applicable Extension Request at least
five (5) Business Days prior to the date on which Lenders under the Existing Term Loan Facility are requested to respond. No Lender shall have any obligation to agree to have any of its Term Loans of any Existing Term Loan Facility converted
into Extended Term Loans pursuant to any Extension Request. Any Lender (an “Extending Term Lender”) wishing to have all or a portion of its Term Loans under the Existing Term Loan Facility subject to such Extension Request converted
into Extended Term Loans shall notify the Administrative Agent (an “Extension Election”) on or prior to the date specified in such Extension Request of the amount of its Term Loans under the Existing Term Loan Facility which it has
elected to request be converted into Extended Term Loans (subject to any minimum denomination requirements reasonably imposed by the Administrative Agent). In the event that the aggregate amount of Term Loans under the Existing Term Loan Facility
subject to Extension Elections exceeds the amount of Extended Term Loans requested pursuant to the Extension Request, Term Loans subject to Extension Elections shall be converted to Extended Term Loans on a pro rata basis based on the amount of Term
Loans included in each such Extension Election. 
 (c) Extended Term Loans shall be established pursuant to an
amendment (a “Term Loan Extension Amendment”) to this Agreement among the Borrowers, the Administrative Agent and each Extending Term Lender providing an Extended Term Loan thereunder which shall be consistent with the provisions
set forth in paragraph (a) above (but which shall not require the consent of any other Lender). Each Term Loan Extension Amendment shall be binding on the Lenders, the Loan Parties and the other parties hereto. In connection with any Term Loan
Extension Amendment, the Loan Parties and the Collateral Agent shall enter into such amendments to the Security Documents as may be reasonably requested by the Collateral Agent (which shall not require any consent from any Lender) in order to ensure
that the Extended Term Loans are provided with the benefit of the applicable Security Documents and shall deliver such other documents, certificates and opinions of counsel in connection therewith as may be requested by the Collateral Agent.

 2.6. Incremental Commitments. 
 (a) The Borrowers may, by written notice to the Administrative Agent from time to time, request (x) Incremental Term Loan Commitments in an amount not to exceed $350,000,000 in the aggregate so long
as (I) on a Pro Forma Basis the U.S. Borrower is in compliance with the covenants set forth in Section 8.1, as of the most recently completed period for which the financial statements required by Section 7.1(a) and (b) were
required to be delivered and (II) on a Pro Forma Basis, the Senior Secured Leverage Ratio shall not exceed 3.00 to 1.00 on the last day of the most recent fiscal quarter for which financial statements have been delivered pursuant to
Section 7.1, in each case, from one or more Incremental Term Lenders (which may include any existing Lender) willing to provide such Incremental Term Loans in their own discretion and/or (y) an increase in the Canadian Revolving
Commitments and or the U.S. Revolving Commitments in an aggregate amount not to exceed $15,000,000; provided that: 
 (i) before and after giving effect to the borrowing of such Incremental Term Loans on the date such Incremental Term Loans are borrowed or the increase in such Canadian Revolving Commitments or U.S.
Revolving Commitments on the date such Revolving Commitments become effective (the “Increased Amount Date”) each of the conditions set forth in Section 6.2 shall be satisfied; 

(ii) in the case of (x) Incremental Term Loans, such Incremental Term Loans shall mature no earlier than, and the
Weighted Average Life to Maturity of such Incremental Term Loans shall not be shorter than, the then remaining Weighted Average Life to Maturity of, the Term Loans under any then outstanding Facility at the time of such refinancing and
(y) increases in the Canadian Revolving Commitments or U.S. Revolving Commitments, such increased commitments shall have the same terms and conditions (other than upfront fees) as any previously established Canadian Revolving Commitments or
U.S. Revolving Commitments, as the case may be, selected by the Company; 
 (iii) in the case of Incremental Term
Loans, all other terms applicable to such Incremental Term Loans (other than provisions relating to original issue discount, upfront fees, interest rates and, subject to clause (ii) above, amortization which shall be as agreed between the
applicable Borrower and the 

  
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Lenders providing such Incremental Term Loans) shall be substantially identical to, or less favorable to the Lenders providing such Incremental Term Loans than, those applicable to the then
outstanding Term Loans except to the extent such covenants and other terms apply solely to any period after the latest final maturity of the Term Loans and Revolving Commitments in effect on the Increased Amount Date immediately prior to the
borrowing of such Incremental Term Loans; 
 (iv) in the case of Incremental Term Loans, if the Yield on any
Incremental Term Loans exceeds the Yield on the U.S. Term-1 Loans by more than 25 basis points, then the Applicable Margin for the U.S. Term-1 Loans shall be increased to the extent necessary so that the Yield on the U.S. Term-1 Loans is 25 basis
points less than the Yield on such Incremental Term Loans; 
 (v) the Loan Parties and the Collateral Agent shall
enter into such amendments to the Security Documents as may be requested by the Collateral Agent (which shall not require any consent from any Lender) in order to ensure that the Incremental Term Lenders and/or Lenders providing increased Canadian
Revolving Commitments or U.S. Revolving Commitments, as the case may be, are provided with the benefit of the applicable Security Documents and shall deliver such other documents, certificates and opinions of counsel in connection therewith as may
be requested by the Collateral Agent; and 
 (vi) the Incremental Term Loans and extensions of credit pursuant to
any increase in the Canadian Revolving Commitments or U.S. Revolving Commitments shall rank pari passu in right of payment and pari passu or, in the case of Incremental Term Loans, junior in right of security with the Term Loans and
the Revolving Loans; provided that if any Incremental Term Loan is junior in right of security with the Term Loans and the Revolving Loans, such Incremental Loan shall be governed by a second lien credit agreement, the effectiveness of which
shall be conditioned upon, among other things, the entering into of a Second Lien Intercreditor Agreement. 
 (b)
The Borrowers may approach any Lender or any other Person that would be a permitted Assignee pursuant to Section 11.6 (including consent, if applicable, from the Administrative Agent and applicable Issuing Lender or Swing Line Lender required
by Section 11.6(b)(i)) to provide all or a portion of the Incremental Term Loans (an “Incremental Term Lender”) or increases in the Canadian Revolving Commitments or U.S. Revolving Commitments; provided that any Lender
offered or approached to provide all or a portion of the Incremental Term Loans, Canadian Revolving Commitments or U.S. Revolving Commitments may elect or decline, in its sole discretion, to provide an Incremental Term Loan or additional Canadian
Revolving Commitment or U.S. Revolving Commitment. Any Incremental Term Loans made on any Increased Amount Date shall be designated an incremental series (an “Incremental Series”) of Incremental Term Loans for all purposes of this
Agreement; provided that any Incremental Term Loans may, to the extent provided in the applicable Incremental Amendment, be designated as an increase in any previously established Incremental Series of Incremental Term Loans made to the
Borrowers. 
 (c) The Incremental Term Loans and any increases in the Canadian Revolving Commitments or U.S.
Revolving Commitments shall be established pursuant to an amendment to this Agreement among the Borrowers, the Administrative Agent and the Incremental Term Lenders providing such Incremental Term Loans or such additional Canadian Revolving
Commitments or U.S. Revolving Commitments (an “Incremental Amendment”) which shall be consistent with the provisions set forth in paragraph (a) above (which shall not require the consent of any other Lender). Each Incremental
Amendment shall be binding on the Lenders, the Loan Parties and the other parties hereto. 
 SECTION 3. AMOUNT AND TERMS OF
REVOLVING COMMITMENTS 
 3.1. Revolving Commitments. 

(a) Subject to the terms and conditions hereof (including Section 7.12), each U.S. Revolving Lender severally agrees
to make revolving credit loans in Dollars (“U.S. Revolving Loans”) to the U.S. Borrower from time to time during the Revolving Commitment Period for the U.S. Revolving Facility in an aggregate principal amount at any one time
outstanding which, when added to such Lender’s U.S. Revolving 

  
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Credit Percentage of the sum of (i) the U.S. L/C Obligations then outstanding and (ii) the aggregate principal amount of the U.S. Swing Line Loans then outstanding, does not exceed the
amount of such Lender’s U.S. Revolving Commitment then in effect. During the Revolving Commitment Period for the U.S. Revolving Facility the U.S. Borrower may use the U.S. Revolving Commitments by borrowing, prepaying and reborrowing the U.S.
Revolving Loans in whole or in part, all in accordance with the terms and conditions hereof. The U.S. Revolving Loans may be made only in Dollars and may from time to time be Eurodollar Loans or Base Rate Loans, as determined by the U.S. Borrower
and notified to the Administrative Agent in accordance with Sections 3.2 and 4.3; provided that no U.S. Revolving Loan shall be made as a Eurodollar Loan after the day that is one month prior to the Revolving Termination Date for any then
outstanding U.S. Revolving Commitments under the U.S. Revolving Facility. 
 (b) Subject to the terms and
conditions hereof (including Section 7.12), each Canadian Revolving Lender severally agrees to make revolving credit loans in Dollars or Canadian Dollars (“Canadian Revolving Loans”), as specified by the Canadian Borrower or
the U.S. Borrower, to the Canadian Borrower or the U.S. Borrower, respectively, from time to time during the Revolving Commitment Period for the Canadian Revolving Facility in an aggregate principal amount at any one time outstanding which, when
added to such Lender’s Canadian Revolving Credit Percentage of the sum of (i) the Canadian L/C Obligations then outstanding and (ii) the aggregate principal amount of the Canadian Swing Line Loans then outstanding, does not exceed the
amount of such Lender’s Canadian Revolving Commitment then in effect (provided that in the case of any Canadian Revolving Extensions of Credit made in Canadian Dollars, such amounts shall be valued at the Dollar Equivalent of such
Canadian Dollars as of the relevant date of determination). During the Revolving Commitment Period for the Canadian Revolving Facility the Canadian Borrower and the U.S. Borrower may use the Canadian Revolving Commitments by borrowing, prepaying and
reborrowing the Canadian Revolving Loans in whole or in part, all in accordance with the terms and conditions hereof. The Canadian Revolving Loans may be made from time to time by way of (i) BA Loans or Canadian Prime Rate Loans, in Canadian
Dollars only or (ii) Eurodollar Loans or Base Rate Loans, in Dollars only, as determined by the Canadian Borrower or the U.S. Borrower and notified to the Administrative Agent in accordance with Sections 3.2 and 4.3, provided that no
Canadian Revolving Loan shall be made as a BA Loan or a Eurodollar Loan after the day that is one month prior to the Revolving Termination Date for any then outstanding Canadian Revolving Commitments under the Canadian Revolving Facility.

 (c) The U.S. Borrower shall repay to the Administrative Agent for the ratable benefit of the applicable U.S.
Revolving Lenders all U.S. Revolving Loans made pursuant to any U.S. Revolving Commitment on the Revolving Termination Date for such U.S. Revolving Commitment. The Canadian Borrower and the U.S. Borrower shall repay to the Administrative Agent for
the ratable benefit of the applicable Canadian Revolving Lenders all Canadian Revolving Loans made to such Borrower pursuant to any Canadian Revolving Commitment on the Revolving Termination Date for such Canadian Revolving Commitment. 

3.2. Procedure for Revolving Loan Borrowing. 

(a) The U.S. Borrower may borrow under the U.S. Revolving Commitments during the Revolving Commitment Period on any
Business Day, provided that the U.S. Borrower shall give the Administrative Agent an irrevocable Borrowing Notice (which notice must be received by the Administrative Agent prior to 12:00 Noon, New York City time, (a) three Business Days
prior to the requested Borrowing Date, in the case of Eurodollar Loans, or (b) one Business Day prior to the requested Borrowing Date, in the case of Base Rate Loans) (provided that any such notice of a borrowing of Base Rate Loans to finance
payments required to be made pursuant to Section 3.5 may be given not later than 10:00 A.M., New York City time, on the date of the proposed borrowing), specifying (i) the amount and Type of U.S. Revolving Loans to be borrowed,
(ii) the requested Borrowing Date and (iii) in the case of Eurodollar Loans, the respective amounts of each such Type of Loan and the respective lengths of the initial Interest Period therefor. Each borrowing under the U.S. Revolving
Commitments shall be in an amount equal to (x) in the case of Base Rate Loans, $1,000,000 or a whole multiple thereof (or, if the then aggregate Available U.S. Revolving Commitments are less than $1,000,000, such lesser amount) and (y) in
the case of Eurodollar Loans, $5,000,000 or a whole multiple of $1,000,000 in excess thereof; provided, that (x) 

  
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the U.S. Swing Line Lender may request, on behalf of the U.S. Borrower, borrowings under the U.S. Revolving Commitments that are Base Rate Loans in other amounts pursuant to Section 3.4 and
(y) borrowings of Base Rate Loans pursuant to Section 3.11 shall not be subject to the foregoing minimum amounts. Upon receipt of any such notice from the U.S. Borrower, the Administrative Agent shall promptly notify each U.S. Revolving
Lender thereof. Subject to the terms and conditions hereof, each U.S. Revolving Lender will make the amount of its pro rata share of each borrowing available to the Administrative Agent for the account of the U.S. Borrower at the Funding Office
prior to 12:00 Noon, New York City time, on the Borrowing Date requested by the U.S. Borrower in funds immediately available to the Administrative Agent. Such borrowing will then be made available to the U.S. Borrower by the Administrative Agent
wiring (pursuant to instructions theretofore delivered to the Administrative Agent by the U.S. Borrower) the aggregate of the amounts made available to the Administrative Agent by the U.S. Revolving Lenders and in like funds as received by the
Administrative Agent. 
 (b) The Canadian Borrower or the U.S. Borrower may borrow under the Canadian Revolving
Commitments during the Revolving Commitment Period on any Business Day, provided that the Canadian Borrower or the U.S. Borrower shall give the Administrative Agent a Borrowing Notice (which notice must be received by the Administrative Agent
prior to 12:00 Noon, Toronto time, (a) three Business Days prior to the requested Borrowing Date, in the case of Eurodollar Loans, (b) two Business Days prior to the requested Borrowing, in the case of BA Loans, or (c) one Business
Day prior to the requested Borrowing Date, in the case of Base Rate Loans and Canadian Prime Rate Loans) (provided that any such notice of a borrowing of Base Rate Loans or Canadian Prime Rate Loans to finance payments required to be made
pursuant to Section 3.5 may be given not later than 9:00 A.M., Toronto time, on the date of the proposed borrowing), specifying (i) the amount and Type of Canadian Revolving Loans to be borrowed, (ii) the requested Borrowing Date and
(iii) in the case of Eurodollar Loans and BA Loans, the respective amounts of each such Type of Loan and the respective lengths of the initial Interest Period therefor. Each borrowing under the Canadian Revolving Commitments shall be in an
amount equal to (x) in the case of Base Rate Loans or Canadian Prime Rate Loans, $1,000,000 or C$1,000,000, respectively, or a whole multiple thereof (or, if the then aggregate Available Canadian Revolving Commitments are less than $1,000,000
or the Dollar Equivalent at such time of C$1,000,000, such lesser amount) and (y) in the case of Eurodollar Loans or BA Loans, $1,000,000 or C$1,000,000, respectively, or a whole multiple of $1,000,000 or C$1,000,000, respectively, in excess
thereof; provided, that (x) the Canadian Swing Line Lender may request, on behalf of the Canadian Borrower or the U.S. Borrower, borrowings under the Canadian Revolving Commitments that are Base Rate Loans or Canadian Prime Rate Loans in
other amounts pursuant to Section 3.4 and (y) borrowings of Base Rate Loans or Canadian Prime Rate Loans pursuant to Section 3.11 shall not be subject to the foregoing minimum amounts. Upon receipt of any such notice from the Canadian
Borrower or the U.S. Borrower, the Administrative Agent shall promptly notify each Canadian Revolving Lender thereof. Subject to the terms and conditions hereof, each Canadian Revolving Lender will make the amount of its pro rata share of each
borrowing available to the Administrative Agent for the account of the Canadian Borrower or the U.S. Borrower at the Canadian Payment Office prior to 12:00 Noon, Toronto time, on the Borrowing Date requested by the Canadian Borrower or the U.S.
Borrower in funds immediately available to the Administrative Agent. Such borrowing will then be made available to the Canadian Borrower or the U.S. Borrower by the Administrative Agent wiring (pursuant to instructions theretofore delivered to the
Administrative Agent by Cedar Fair LP) the aggregate of the amounts made available to the Administrative Agent by the Canadian Revolving Lenders and in like funds as received by the Administrative Agent. 

(c) BA Loans under the Canadian Revolving Facility: 

(i) Discount Rate. On each Borrowing Date on which Bankers’ Acceptances are to be accepted, the Administrative
Agent shall advise the Canadian Borrower and the U.S. Borrower as to the Administrative Agent’s determination of the applicable Discount Rate for the Bankers’ Acceptances, which Bankers’ Acceptances, subject to the terms and
conditions of this Agreement, shall be accepted by each Canadian Revolving Lender under the Canadian Revolving Facility that is permitted by law to accept and purchase Bankers’ Acceptances. 

  
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 (ii) Purchase. Each Canadian Revolving Lender shall purchase the
Bankers’ Acceptances accepted by it at the applicable Discount Rate. The relevant Canadian Revolving Lender shall provide to the Administrative Agent on the Borrowing Date the Discount Proceeds less the Acceptance Fee payable by the Canadian
Borrower or the U.S. Borrower with respect to the relevant Bankers’ Acceptances. 
 (iii) Sale. Each
Canadian Revolving Lender may from time to time hold, sell, rediscount or otherwise dispose of any or all Bankers’ Acceptances accepted and purchased by it. 

(iv) Power of Attorney for the Execution of Bankers’ Acceptances. To facilitate the issuance of Bankers’
Acceptances, each of the Canadian Borrower and the U.S. Borrower hereby appoints each Canadian Revolving Lender as its attorney to sign and endorse on its behalf, in handwriting or by facsimile or mechanical signature as and when deemed necessary by
such Canadian Revolving Lender, blank forms of Bankers’ Acceptances. In this respect, it is each Canadian Revolving Lender’s responsibility to maintain an adequate supply of blank forms of Bankers’ Acceptances for acceptance under
this Agreement. Each of the Canadian Borrower and the U.S. Borrower recognizes and agrees that all Bankers’ Acceptances signed and/or endorsed on its behalf by a Canadian Revolving Lender in accordance with the provisions of this Agreement
shall bind each of the Canadian Borrower and the U.S. Borrower as fully and effectually as if signed in the handwriting of and duly issued by the proper signing officers of the Canadian Borrower and the U.S. Borrower. Each Canadian Revolving Lender
is hereby authorized to issue such Bankers’ Acceptance endorsed in blank in such face amounts as may be determined by such Canadian Revolving Lender; provided that the aggregate amount thereof is equal to the aggregate amount of
Bankers’ Acceptances required to be accepted and purchased by such Canadian Revolving Lender. No Canadian Revolving Lender shall be liable for any damage, loss or other claim arising by reason of any loss or improper use of any such instrument
except to the extent caused by the gross negligence or willful misconduct of such Lender or its officers, employees, agents or representatives. Each Canadian Revolving Lender shall maintain a record with respect to Bankers’ Acceptances held by
it in blank hereunder, voided by it for any reason, accepted and purchased by it hereunder, and cancelled at their respective maturities. Each Canadian Revolving Lender agrees to provide such records to the Canadian Borrower and the U.S. Borrower at
the Canadian Borrower’s and the U.S. Borrower’s expense upon request. 
 (v) Execution. Drafts
drawn by the Canadian Borrower or the U.S. Borrower to be accepted as Bankers’ Acceptances shall be signed by a duly authorized officer or officers of the Canadian Borrower or the U.S. Borrower or by their attorneys in fact, including attorneys
in fact appointed pursuant to this Section 3.2. Notwithstanding that any Person whose signature appears on any Bankers’ Acceptance may no longer be an authorized signatory for the Canadian Borrower or the U.S. Borrower at the time of
issuance of a Bankers’ Acceptance, that signature shall nevertheless be valid and sufficient for all purposes as if the authority had remained in force at the time of issuance and any Bankers’ Acceptance so signed shall be binding on the
Canadian Borrower and the U.S. Borrower. 
 (vi) Issuance. The Administrative Agent, promptly following
receipt of a Borrowing Notice for a BA Loan, shall advise the Canadian Revolving Lenders of the notice and shall advise each such Lender of the face amount of Bankers’ Acceptances to be accepted by it and the applicable Interest Period (which
shall be identical for all Canadian Revolving Lenders in respect of such BA Loan). The aggregate face amount of Bankers’ Acceptances to be accepted by a Canadian Revolving Lender shall be determined by the Administrative Agent by reference to
such Lender’s Canadian Revolving Credit Percentage of the BA Loan, except that, if the face amount of a Bankers’ Acceptance which would otherwise be accepted by a Canadian Revolving Lender would not be C$100,000 or a whole multiple
thereof, the face amount shall be increased or reduced by such Agent in its sole discretion to C$100,000, or the nearest whole multiple of that amount, as appropriate; provided that after such issuance (i) under the Canadian Revolving
Facility, no Canadian Revolving Lender shall have aggregate outstanding Canadian Revolving Extensions of Credit in excess of its Canadian Revolving Commitment and (ii) the aggregate amount of Canadian Revolving Extensions of Credit then
outstanding together with the U.S. Revolving Extensions of Credit then outstanding and any Replacement Revolving Extensions of Credit then outstanding shall not exceed the U.S. Revolving Commitment. 

  
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 (vii) Waiver of Presentment and Other Conditions. Each of the
Canadian Borrower and the U.S. Borrower waives presentment for payment and any other defense to payment of any amounts due to a Canadian Revolving Lender in respect of a Bankers’ Acceptance accepted and purchased by it pursuant to this
Agreement which might exist solely by reason of the Bankers’ Acceptance being held, at the maturity thereof, by the Canadian Revolving Lender in its own right and each of the Canadian Borrower and the U.S. Borrower agrees not to claim any days
of grace if such Canadian Revolving Lender as holder sues the Canadian Borrower or the U.S. Borrower on the Bankers’ Acceptance for payment of the amount payable by the Canadian Borrower or the U.S. Borrower thereunder. 

(viii) BA Equivalent Loans by Non-BA Lenders. Whenever the Canadian Borrower or the U.S. Borrower requests a
Canadian Revolving Loan under this Agreement by way of Bankers’ Acceptances, each Non-BA Lender shall, in lieu of accepting a Bankers’ Acceptance, make a BA Equivalent Loan in an amount equal to, in the case of a Canadian Revolving Loan,
the Non-BA Lender’s Canadian Revolving Credit Percentage of the Canadian Revolving Loan. 
 (ix) Terms
Applicable to Discount Notes. As set out in the definition of “Bankers’ Acceptances”, that term includes Discount Notes and all terms of this Agreement applicable to BA Loans shall apply equally to Discount Notes evidencing BA
Equivalent Loans with such changes as may in the context be necessary. For greater certainty: (a) the term of a Discount Note shall be the same as the Interest Period for Bankers’ Acceptances accepted and purchased on the same Borrowing
Date in respect of the same Canadian Revolving Loan; (b) an Acceptance Fee will be payable in respect of a Discount Note and shall be calculated at the same rate and in the same manner as the Acceptance Fee in respect of a Bankers’
Acceptance; and (c) the Discount Rate applicable to a Discount Note shall be the Discount Rate applicable to Bankers’ Acceptances accepted by a Schedule II Lender on the same Borrowing Date, as the case may be, in respect of the same
Canadian Revolving Loan. 
 (x) Depository Bills and Notes Act. At the option of any Canadian Revolving
Lender, Bankers’ Acceptances under this Agreement to be accepted by such Lender may be issued in the form of depository bills for deposit with The Canadian Depository for Securities Limited pursuant to the Depository Bills and Notes Act
(Canada). All depository bills so issued shall be governed by the provisions of this Section 3.2. 
 (xi)
Prepayments and Mandatory Payments. If at any time any Bankers’ Acceptances are to be paid prior to their maturity, the Canadian Borrower or the U.S. Borrower, as applicable, shall be required to deposit the amount of such prepayment in
an interest bearing cash collateral account until the date of maturity of those Bankers’ Acceptances, with interest earned thereon at the prevailing rates for deposits of comparable amount and term, being for the credit of the Canadian Borrower
or the U.S. Borrower, as applicable. The cash collateral account shall be under the sole control of the Administrative Agent. Except as contemplated by this Section 3.2, neither the Canadian Borrower, the U.S. Borrower nor any Person claiming
on behalf of the Canadian Borrower or the U.S. Borrower shall have any right to any of the cash in the cash collateral account. The Administrative Agent shall apply the cash held in the cash collateral account to the face amount of those
Bankers’ Acceptances at maturity whereupon any cash remaining in the cash collateral account shall be released by the Administrative Agent to the Canadian Borrower or the U.S. Borrower, as applicable. 

(xii) Market for Bankers’ Acceptances. If at any time or from time to time there no longer exists a market for
Bankers’ Acceptances, the relevant Canadian Revolving Lenders shall so advise the Administrative Agent and any such Canadian Revolving Lenders shall not be obliged to accept drafts of the Canadian Borrower or the U.S. Borrower presented to such
Lenders pursuant to the provisions of this Agreement. In such event, the Canadian Borrower’s or the U.S. Borrower’s option to request BA Loans shall thereupon be suspended upon notice by the Administrative Agent to the Canadian Borrower or
the U.S. Borrower, until such time as the Administrative Agent has determined that the circumstances having given rise to such suspension no longer exist, in respect of which determination the Administrative Agent shall advise the Canadian Borrower
or the U.S. Borrower within a reasonable period of time after making such determination. 

  
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 3.3. Swing Line Sub Commitment. 

(a) Subject to the terms and conditions hereof, the U.S. Swing Line Lender agrees to make a portion of the credit
otherwise available to the U.S. Borrower under the U.S. Revolving Commitments from time to time during the Revolving Commitment Period for the U.S. Revolving Facility by making swing line loans (“U.S. Swing Line Loans”) to the U.S.
Borrower; provided that (i) the aggregate principal amount of U.S. Swing Line Loans outstanding at any time shall not exceed the U.S. Swing Line Sub Commitment then in effect as reduced by paragraph (c) of this section
(notwithstanding that the U.S. Swing Line Loans outstanding at any time, when aggregated with the U.S. Swing Line Lender’s other outstanding U.S. Revolving Loans hereunder, may exceed the U.S. Swing Line Sub Commitment then in effect) and
(ii) the U.S. Borrower shall not request, and the U.S. Swing Line Lender shall not make, any U.S. Swing Line Loan if, after giving effect to the making of such U.S. Swing Line Loan, the aggregate amount of the Available U.S. Revolving
Commitments would be less than zero. During the Revolving Commitment Period for the U.S. Revolving Facility, the U.S. Borrower may use the U.S. Swing Line Sub Commitment by borrowing, repaying and reborrowing U.S. Swing Line Loans, all in accordance
with the terms and conditions hereof. The U.S. Borrower in Dollars shall pay interest on the unpaid principal amount of each U.S. Swing Line Loan outstanding from time to time from the date thereof until paid at the highest rate then applicable to
Base Rate Loans under the U.S. Revolving Facility. Interest on each U.S. Swing Line Loan shall be payable on the Swing Line Loan Maturity Date applicable thereto. Each U.S. Swing Line Loan shall bear interest for a minimum of one day. 

(b) The U.S. Borrower shall repay all outstanding U.S. Swing Line Loans on the Swing Line Loan Maturity Date applicable to
such U.S. Swing Line Loan. 
 (c) Subject to the terms and conditions hereof, the Canadian Swing Line Lender
agrees to make a portion of the credit otherwise available to the Canadian Borrower or the U.S. Borrower under the Canadian Revolving Commitments from time to time during the Revolving Commitment Period for the Canadian Revolving Facility by making
swing line loans (“Canadian Swing Line Loans”) to such Borrower; provided that (i) the aggregate principal amount of Canadian Swing Line Loans outstanding at any time shall not exceed the Canadian Swing Line Sub
Commitment then in effect (notwithstanding that the Canadian Swing Line Loans outstanding at any time, when aggregated with the Canadian Swing Line Lender’s other outstanding Canadian Revolving Loans hereunder, may exceed the Canadian Swing
Line Sub Commitment then in effect) and (ii) neither the Canadian Borrower nor the U.S. Borrower shall request, and the Canadian Swing Line Lender shall not make, any Canadian Swing Line Loan if, after giving effect to the making of such
Canadian Swing Line Loan, the aggregate amount of the Available Canadian Revolving Commitments would be less than zero (in the case of clauses (i) and (ii) above, any Canadian Swing Line Loans made in Canadian Dollars to be valued at the
Dollar Equivalent of such Canadian Dollars as of the relevant date of determination). During the Revolving Commitment Period for the Canadian Revolving Facility, each of the Canadian Borrower and the U.S. Borrower may use the Canadian Swing Line Sub
Commitment by borrowing, repaying and reborrowing Canadian Swing Line Loans, all in accordance with the terms and conditions hereof. Each of the Canadian Borrower and the U.S. Borrower shall pay interest on the unpaid principal amount of each
Canadian Swing Line Loan borrowed by it outstanding from time to time from the date thereof until paid at the Canadian Prime Rate (for Canadian Swing Line Loans denominated in Canadian Dollars) or the Base Rate (for Canadian Swing Line Loans
denominated in Dollars), as applicable, plus the Applicable Margin for Base Rate Canadian Revolving Loans. Interest on each Canadian Swing Line Loan shall be payable on the Swing Line Loan Maturity Date applicable thereto. Canadian Swing Line Loans
shall be Canadian Prime Rate Loans or Base Rate Loans only. 
 (d) Each of the Canadian Borrower and the U.S.
Borrower shall repay all outstanding Canadian Swing Line Loans borrowed by it on the Swing Line Loan Maturity Date applicable to such Canadian Swing Line Loan. 

  
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 3.4. Procedure for Swing Line Borrowing; Refunding of Swing Line Loans. 

(a) Whenever the U.S. Borrower desires that the U.S. Swing Line Lender make U.S. Swing Line Loans the U.S. Borrower shall
give the U.S. Swing Line Lender irrevocable telephonic notice confirmed promptly in writing with a copy to the Administrative Agent (which telephonic notice must be received by the U.S. Swing Line Lender not later than 1:00 P.M., New York City time,
on the proposed Borrowing Date), specifying (i) the amount to be borrowed and (ii) the requested Borrowing Date (which shall be a Business Day during the Revolving Commitment Period for the U.S. Revolving Facility). Each borrowing under
the U.S. Swing Line Sub Commitment shall be in an amount equal to $500,000 or a whole multiple of $100,000 in excess thereof. Not later than 3:00 P.M., New York City time, on the Borrowing Date specified in a notice in respect of U.S. Swing Line
Loans, the U.S. Swing Line Lender shall make available to the Administrative Agent at the Funding Office an amount in immediately available funds equal to the amount of the U.S. Swing Line Loan to be made by the U.S. Swing Line Lender. The
Administrative Agent shall make the proceeds of such U.S. Swing Line Loan available to the U.S. Borrower on such Borrowing Date by depositing such proceeds in an account of the U.S. Borrower with the Administrative Agent on such Borrowing Date in
immediately available funds. 
 (b) The U.S. Swing Line Lender, at any time and from time to time in its sole and
absolute discretion may (and on the Swing Line Loan Maturity Date, shall), on behalf of the U.S. Borrower (which hereby irrevocably directs the U.S. Swing Line Lender to act on its behalf), on one Business Day’s notice given by the U.S. Swing
Line Lender to the Administrative Agent no later than 12:00 Noon, New York City time, request each U.S. Revolving Lender to make, and each U.S. Revolving Lender hereby agrees to make, a U.S. Revolving Loan (which shall initially be a Base Rate
Loan), in an amount equal to such U.S. Revolving Lender’s U.S. Revolving Credit Percentage of the aggregate amount of the U.S. Swing Line Loans (the “U.S. Refunded Swing Line Loans”) outstanding on the date of such notice, to
repay the U.S. Swing Line Lender. Each U.S. Revolving Lender shall make the amount of such U.S. Revolving Loan available to the Administrative Agent at the Funding Office in immediately available funds, not later than 10:00 A.M., New York City time,
one Business Day after the date of such notice. The proceeds of such U.S. Revolving Loans shall be immediately made available by the Administrative Agent to the U.S. Swing Line Lender for application by the U.S. Swing Line Lender to the repayment of
the U.S. Refunded Swing Line Loans. The U.S. Borrower and any Group Member which has guaranteed the U.S. Borrower’s Obligations irrevocably authorize the U.S. Swing Line Lender to charge such Person’s accounts with the Administrative Agent
(up to the amount available in each such account) in order to immediately pay the amount of such U.S. Refunded Swing Line Loans to the extent amounts received from the U.S. Revolving Lenders are not sufficient to repay in full such U.S. Refunded
Swing Line Loans. 
 (c) If prior to the time a U.S. Revolving Loan would have otherwise been made pursuant to
Section 3.4(b), one of the events described in Section 9(f) shall have occurred and be continuing with respect to the U.S. Borrower or if for any other reason, as determined by the U.S. Swing Line Lender in its sole discretion, U.S.
Revolving Loans may not be made as contemplated by Section 3.4(b), each U.S. Revolving Lender shall, on the date such U.S. Revolving Loan was to have been made pursuant to the notice referred to in Section 3.4(b) (the “U.S.
Refunding Date”), purchase for cash an undivided participating interest in the then outstanding U.S. Swing Line Loans by paying to the U.S. Swing Line Lender an amount (the “U.S. Swing Line Participation Amount”) equal to
(i) such U.S. Revolving Lender’s U.S. Revolving Credit Percentage times (ii) the sum of the aggregate principal amount of U.S. Swing Line Loans then outstanding that were to have been repaid with such U.S. Revolving Loans.

 (d) Whenever, at any time after the U.S. Swing Line Lender has received from any U.S. Revolving Lender such
U.S. Lender’s U.S. Swing Line Participation Amount, the U.S. Swing Line Lender receives any payment on account of the U.S. Swing Line Loans, the U.S. Swing Line Lender will distribute to such Lender a pro rata portion thereof based upon its
U.S. Swing Line Participation Amount (appropriately adjusted, in the case of interest payments, to reflect the period of time during which such Lender’s participating interest was outstanding and funded and, in the case of principal and
interest payments, to reflect such Lender’s pro rata portion of such payment if such payment is not sufficient to pay the principal of and interest on all U.S. Swing Line Loans then due); provided, however, that in the event that
such payment received by the U.S. Swing Line Lender is required to be returned, such U.S. Revolving 

  
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Lender will return to the U.S. Swing Line Lender any portion thereof previously distributed to it by the U.S. Swing Line Lender. 

(e) Each U.S. Revolving Lender’s obligation to make the Loans referred to in Section 3.4(b) and to purchase
participating interests pursuant to Section 3.4(c) shall be absolute and unconditional and shall not be affected by any circumstance, including (i) any setoff, counterclaim, recoupment, defense or other right that such U.S. Revolving
Lender or the U.S. Borrower may have against the U.S. Swing Line Lender, the U.S. Borrower or any other Person for any reason whatsoever; (ii) the occurrence or continuance of a Default or an Event of Default or the failure to satisfy any of
the other conditions specified in Section 6; (iii) any adverse change in the condition (financial or otherwise) of the U.S. Borrower or any other Loan Party; (iv) any breach of this Agreement or any other Loan Document by the U.S.
Borrower, any other Loan Party or any other Revolving Lender; or (v) any other circumstance, happening or event whatsoever, whether or not similar to any of the foregoing. 

(f) Each of the Canadian Borrower and the U.S. Borrower may borrow under the Canadian Swing Line Sub Commitment on any
Business Day during the Revolving Commitment Period for the Canadian Revolving Facility, provided, such Borrower shall give the Canadian Swing Line Lender irrevocable written notice (which written notice must be received by the Canadian Swing
Line Lender not later than 10:00 A.M., Toronto time, on the proposed Borrowing Date), specifying (i) the amount to be borrowed and (ii) the requested Borrowing Date. Each borrowing under the Canadian Swing Line Sub Commitment shall be in
an amount equal to $500,000 or C$500,000 or a whole multiple of $100,000 or C$100,000 in excess thereof. Not later than 3:00 P.M., Toronto time, on the Borrowing Date specified in the borrowing notice in respect of any Canadian Swing Line Loan, the
Canadian Swing Line Lender shall make available to the Administrative Agent at the Canadian Payment Office an amount in immediately available funds equal to the amount of such Canadian Swing Line Loan. The Administrative Agent shall make the
proceeds of such Canadian Swing Line Loan available to the Canadian Borrower or the U.S. Borrower requesting such Loan on such Borrowing Date by depositing such proceeds in an account of such Borrower with a financial institution designated by such
Borrower in immediately available funds. 
 (g) The Canadian Swing Line Lender, at any time and from time to time
in its sole and absolute discretion may (and on the Swing Line Loan Maturity Date, shall), on behalf of each of the Canadian Borrower and the U.S. Borrower (which hereby irrevocably directs the Canadian Swing Line Lender to act on its behalf), on
one Business Day’s notice given by the Canadian Swing Line Lender to the Administrative Agent no later than 12:00 Noon, Toronto time, request each Canadian Revolving Lender to make, and each Canadian Revolving Lender hereby agrees to make, a
Canadian Revolving Loan (which shall initially be a Canadian Prime Rate Loan or a Base Rate Loan), in an amount equal to such Canadian Revolving Lender’s Canadian Revolving Credit Percentage of the aggregate amount of the Canadian Swing Line
Loans (the “Canadian Refunded Swing Line Loans”) outstanding on the date of such notice, to repay the Canadian Swing Line Lender. Each Canadian Revolving Lender shall make the amount of such Canadian Revolving Loan available to the
Administrative Agent at the Canadian Payment Office in immediately available funds, not later than 10:00 A.M., Toronto time, one Business Day after the date of such notice. The proceeds of such Canadian Revolving Loans shall be made immediately
available by the Administrative Agent to the Canadian Swing Line Lender for application by the Canadian Swing Line Lender to the repayment of the Canadian Refunded Swing Line Loans. Each of the Canadian Borrower and the U.S. Borrower and any Group
Member which has guaranteed such Borrower’s Obligations irrevocably authorizes the Canadian Swing Line Lender to charge such Person’s accounts with the Administrative Agent or any of its Affiliates (up to the amount available in each such
account) in order to immediately pay the amount of such Canadian Refunded Swing Line Loans to the extent amounts received from the Canadian Revolving Lenders are not sufficient to repay in full such Canadian Refunded Swing Line Loans. 

(h) If prior to the time a Canadian Revolving Loan would have otherwise been made pursuant to Section 3.4(g), one of
the events described in Section 9(f) shall have occurred and be continuing with respect to either Borrower, or if for any other reason, as determined by the Canadian Swing Line Lender in its sole discretion, Canadian Revolving Loans may not be
made as contemplated by Section 3.4(g), each Canadian Revolving Lender shall, on the date such Canadian Revolving Loan was to have 

  
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been made pursuant to the notice referred to in Section 3.4(g) (the “Canadian Refunding Date”), purchase for cash an undivided participating interest in the then outstanding
Canadian Swing Line Loans by paying to the Canadian Swing Line Lender an amount (the “Canadian Swing Line Participation Amount”) equal to (i) such Canadian Revolving Lender’s Canadian Revolving Credit Percentage
times (ii) the sum of the aggregate principal amount of Canadian Swing Line Loans then outstanding which were to have been repaid with such Canadian Revolving Loans. 

(i) Whenever, at any time after the Canadian Swing Line Lender has received from any Canadian Revolving Lender such
Lender’s Canadian Swing Line Participation Amount, the Canadian Swing Line Lender receives any payment on account of the Canadian Swing Line Loans, the Canadian Swing Line Lender will distribute to such Lender a pro rata portion thereof based
upon its Canadian Swing Line Participation Amount (appropriately adjusted, in the case of interest payments, to reflect the period of time during which such Lender’s participating interest was outstanding and funded and, in the case of
principal and interest payments, to reflect such Lender’s pro rata portion of such payment if such payment is not sufficient to pay the principal of and interest on all Canadian Swing Line Loans then due); provided, however, that
in the event that such payment received by the Canadian Swing Line Lender is required to be returned, such Canadian Revolving Lender will return to the Canadian Swing Line Lender any portion thereof previously distributed to it by the Canadian Swing
Line Lender. 
 (j) Each Canadian Revolving Lender’s obligation to make the Loans referred to in
Section 3.4(g) and to purchase participating interests pursuant to Section 3.4(h) shall be absolute and unconditional and shall not be affected by any circumstance, including, without limitation, (i) any setoff, counterclaim,
recoupment, defense or other right which such Canadian Revolving Lender, the Canadian Borrower or the U.S. Borrower may have against the Canadian Swing Line Lender, the Canadian Borrower, the U.S. Borrower or any other Person for any reason
whatsoever; (ii) the occurrence or continuance of a Default or an Event of Default or the failure to satisfy any of the other conditions specified in Section 6; (iii) any adverse change in the condition (financial or otherwise) of the
Canadian Borrower, the U.S. Borrower or any other Loan Party; (iv) any breach of this Agreement or any other Loan Document by the Canadian Borrower, the U.S. Borrower, any other Loan Party, or any other Canadian Revolving Lender; or
(v) any other circumstance, happening or event whatsoever, whether or not similar to any of the foregoing. 
 3.5.
Commitment Fees, etc. 
 (a)(i) The U.S. Borrower agrees to pay to the Administrative Agent for the
account of each U.S. Revolving Lender a commitment fee for the period from and including the Closing Date to the last day of the Revolving Commitment Period for the U.S. Revolving Facility computed at the Commitment Fee Rate on the average daily
amount of the Available U.S. Revolving Commitment of such U.S. Revolving Lender, in each case, during the period for which payment is made, payable quarterly in arrears on the last day of each March, June, September and December and on the
applicable Revolving Termination Date for such U.S. Revolving Lender’s U.S. Revolving Commitment, commencing on the first of such dates to occur after the date hereof. 

(ii) Each of the Canadian Borrower and the U.S. Borrower agrees, jointly and severally, to pay to the Administrative Agent
for the account of each Canadian Revolving Lender a commitment fee for the period from and including the Closing Date to the last day of the Revolving Commitment Period for the Canadian Revolving Facility computed at the Commitment Fee Rate on the
average daily amount of the Available Canadian Revolving Commitment of such Canadian Revolving Lender, in each case, during the period for which payment is made, payable quarterly in arrears on the last day of each March, June, September and
December and on the applicable Revolving Termination Date for such Canadian Revolving Lender’s Canadian Revolving Commitment, commencing on the first of such dates to occur after the date hereof. 

(b) The Borrowers agree to pay to the Administrative Agent the fees in the amounts and on the dates previously agreed to
in writing by the Borrowers and the Administrative Agent. 

  
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 (c) The U.S. Borrower agrees to pay to the Lead Arrangers the fees in the
amounts and on the dates previously agreed to in writing by Cedar Fair LP and the Lead Arrangers. 
 3.6. Reduction or
Termination of Revolving Commitments. The U.S. Borrower shall have the right, upon not less than three Business Days’ notice to the Administrative Agent, to terminate all or any portion of the U.S. Revolving Commitments or, from time to
time, to reduce the amount of the U.S. Revolving Commitments; provided that no such termination or reduction of U.S. Revolving Commitments shall be permitted if, after giving effect thereto and to any prepayments of the U.S. Revolving Loans
and U.S. Swing Line Loans made on the effective date thereof, the U.S. Revolving Extensions of Credit of all U.S. Revolving Lenders would exceed the U.S. Revolving Commitments of all U.S. Revolving Lenders. The U.S. Borrower and the Canadian
Borrower shall have the right, upon not less than three Business Days’ notice to the Administrative Agent, to terminate all or any portion of the Canadian Revolving Commitments or, from time to time, to reduce the amount of the Canadian
Revolving Commitments; provided that no such termination or reduction of Canadian Revolving Commitments shall be permitted if, after giving effect thereto and to any prepayments of the Canadian Revolving Loans and Canadian Swing Line Loans
made on the effective date thereof, the Canadian Revolving Extensions of Credit of all Canadian Revolving Lenders would exceed the Canadian Revolving Commitments of all Canadian Revolving Lenders (provided that in the case of any Canadian
Revolving Extensions of Credit made in Canadian Dollars, such amounts shall be valued at the Dollar Equivalent of such Canadian Dollars as of the relevant date of determination). Any such reduction shall be in an amount equal to $1,000,000, or a
whole multiple thereof, and shall reduce permanently the applicable Revolving Commitments then in effect (with such reduction being applied to Revolving Commitments under the applicable Revolving Credit Facility with an earlier Revolving Termination
Date prior to being applied to reduce any Revolving Commitments under such Revolving Credit Facility with a later Revolving Termination Date); provided, that in connection with the establishment of Replacement Revolving Commitments, the
applicable Borrower may reduce the existing Revolving Commitments on a non-pro rata basis on terms reasonably satisfactory to the Administrative Agent. Except as set forth in the proviso to the immediately preceding sentence, any reduction of the
Revolving Commitments under any Revolving Credit Facility with the same Revolving Termination Date shall be applied to reduce the Revolving Commitments of each Revolving Lender under such Revolving Credit Facility on a pro rata basis. 

3.7. L/C Commitment. 
 (a) Subject to the terms and conditions hereof, each U.S. Issuing Lender, in reliance on the agreements of the U.S. L/C Participants set forth in Section 3.10(a), agrees to issue documentary or
standby letters of credit (“U.S. Letters of Credit”) for the account of the U.S. Borrower on any Business Day during the Revolving Commitment Period for the U.S. Revolving Facility in such form as may be approved from time to time
by such U.S. Issuing Lender; provided that no U.S. Issuing Lender shall have any obligation to issue any U.S. Letter of Credit if, after giving effect to such issuance, (i) the U.S. L/C Obligations would exceed the U.S. L/C Sub
Commitment or (ii) the aggregate amount of the Available U.S. Revolving Commitments of all U.S. Revolving Lenders would be less than zero. On the Closing Date, the Existing Letters of Credit will automatically, without any action on the part of
any Person, be deemed to be U.S. Letters of Credit issued hereunder for the account of the U.S. Borrower for all purposes of this Agreement and the other Loan Documents. Each U.S. Letter of Credit shall (i) be denominated in Dollars and
(ii) expire no later than the earlier of (x) the first anniversary of its date of issuance, (y) the date which is five Business Days prior to the latest Revolving Termination Date of the U.S. Revolving Facility; provided that
any U.S. Letter of Credit with a one year term may provide for the renewal thereof for additional one year periods (which shall in no event extend beyond the date referred to in clause (y) above or (z) below) and (z) unless the U.S.
Borrower has made arrangements satisfactory to the U.S. Issuing Lender (including to cash collateralize the applicable portion of such U.S. Letter of Credit or provide an undertaking to maintain sufficient available Replacement Revolving
Commitments), the earliest Revolving Termination Date of any U.S. Revolving Commitment then in effect. 
 (b) On
each Revolving Termination Date for any U.S. Revolving Credit Commitment (and without any further action), and so long as any Replacement Revolving Commitments under the U.S. Revolving Facility shall not have terminated at or prior to such time, the
participations in U.S. L/C Obligations in respect of all outstanding U.S. Letters of Credit shall be reallocated among the Replacement Revolving Lenders in accordance with their U.S. Revolving Credit Percentages as of such date (after giving

  
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effect to the termination of the applicable U.S. Revolving Commitments on such Revolving Termination Date) and the Lenders that hold U.S. Revolving Credit Commitments terminating on such
Revolving Termination Date shall be released from their L/C Participations in respect of such outstanding U.S. Letters of Credit. 
 (c) Subject to the terms and conditions hereof, each Canadian Issuing Lender, in reliance on the agreements of the Canadian L/C Participants set forth in Section 3.10(d), agrees to issue documentary
or standby letters of credit (“Canadian Letters of Credit”) for the account of the Canadian Borrower or the U.S. Borrower on any Business Day during the Revolving Commitment Period for the Canadian Revolving Facility in such form as
may be approved from time to time by such Canadian Issuing Lender; provided, that no Canadian Issuing Lender shall have any obligation to issue any Canadian Letter of Credit if, after giving effect to such issuance, (i) the Canadian L/C
Obligations would exceed the Canadian L/C Sub Commitment or (ii) the aggregate amount of the Available Canadian Revolving Commitments of all Canadian Revolving Lenders would be less than zero. Each Canadian Letter of Credit shall (i) be
denominated in Canadian Dollars or Dollars and (ii) expire no later than the earlier of (x) the first anniversary of its date of issuance and (y) the date which is five Business Days prior to the latest Revolving Termination Date of
the Canadian Revolving Facility; provided that any Canadian Letter of Credit with a one year term may provide for the renewal thereof for additional one year periods (which shall in no event extend beyond the date referred to in clause
(y) above or (z) below) and (z) unless the Canadian Borrower or the U.S. Borrower has made arrangements satisfactory to the Canadian Issuing Lender (including to cash collateralize the applicable portion of such Canadian Letter of
Credit or provide an undertaking to maintain sufficient available Replacement Revolving Commitments), the earliest Revolving Termination Date of any Canadian Revolving Commitment then in effect. 

(d) On each Revolving Termination Date for any Canadian Revolving Credit Commitments (and without any further action), and
so long as any Replacement Revolving Commitments under the Canadian Revolving Facility shall not have terminated at or prior to such time, the L/C Participations in respect of all outstanding Canadian Letters of Credit shall be reallocated among the
Replacement Revolving Lenders in accordance with their Canadian Revolving Credit Percentages as of such date (after giving effect to the termination of the applicable Canadian Revolving Commitments on such Revolving Termination Date) and the Lenders
that hold Canadian Revolving Commitments terminating on such Revolving Termination Date shall be released from their L/C Participations in respect of such outstanding Canadian Letters of Credit. 

(e) No Issuing Lender shall at any time be obligated to issue any Letter of Credit hereunder if such issuance would
conflict with, or cause the Issuing Lender or any L/C Participant to exceed any limits imposed by, any applicable Requirement of Law. 
 3.8. Procedure for Issuance of Letter of Credit. 
 (a) The
U.S. Borrower may from time to time request that the U.S. Issuing Lender issue a U.S. Letter of Credit by delivering to the U.S. Issuing Lender, with a copy to the Administrative Agent, at their addresses for notices specified herein, an Application
therefor, completed to the satisfaction of the U.S. Issuing Lender, and such other certificates, documents and other papers and information as the U.S. Issuing Lender may request. Upon receipt of any Application, the U.S. Issuing Lender will notify
the Administrative Agent of the amount, the beneficiary and the requested expiration of the requested U.S. Letter of Credit, and upon receipt of confirmation from the Administrative Agent that after giving effect to the requested issuance, the sum
of Available U.S. Revolving Commitments and Available Canadian Revolving Commitments would not be less than zero, the U.S. Issuing Lender will process such Application and the certificates, documents and other papers and information delivered to it
in connection therewith in accordance with its customary procedures and shall promptly issue the U.S. Letter of Credit requested thereby (but in no event shall the U.S. Issuing Lender be required to issue any U.S. Letter of Credit earlier than three
Business Days after its receipt of the Application therefor and all such other certificates, documents and other papers and information relating thereto) by issuing the original of such U.S. Letter of Credit to the beneficiary thereof or as
otherwise may be agreed to by the U.S. Issuing Lender and the U.S. Borrower. The U.S. Issuing Lender shall furnish a copy of such U.S. Letter of Credit to the 

  
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U.S. Borrower (with a copy to the Administrative Agent) promptly following the issuance thereof. The U.S. Issuing Lender shall promptly furnish to the Administrative Agent, which shall in turn
promptly furnish to the U.S. Revolving Lenders, notice of the issuance of each U.S. Letter of Credit (including the amount thereof). 
 (b) The Canadian Borrower or the U.S. Borrower may from time to time request that the Canadian Issuing Lender issue a Canadian Letter of Credit by delivering to the Canadian Issuing Lender, with a copy to
the Administrative Agent, at its address for notice specified herein, an Application therefor, completed to the reasonable satisfaction of the Canadian Issuing Lender, and such other certificates, documents and other papers and information as the
Canadian Issuing Lender may reasonably request. Upon receipt of any such Application, the Canadian Issuing Lender will notify the Administrative Agent of the amount, the beneficiary and the requested expiration of the requested Canadian Letter of
Credit, and upon receipt of confirmation from the Administrative Agent that after giving effect to the requested issuance, the Available Canadian Revolving Commitments would not be less than zero, the Canadian Issuing Lender will process such
Application and the certificates, documents and other papers and information delivered to it in connection therewith in accordance with its customary procedures and shall promptly issue the Canadian Letter of Credit requested thereby by issuing the
original of such Canadian Letter of Credit to the beneficiary thereof or as otherwise may be agreed to by the Canadian Issuing Lender and the Canadian Borrower or the U.S. Borrower, as the case may be, (but in no event shall the Canadian Issuing
Lender be required to issue any Letter of Credit earlier than three Business Days after its receipt of the Application therefor and all such other certificates, documents and other papers and information relating thereto). Promptly after issuance by
the Canadian Issuing Lender of a Canadian Letter of Credit, the Canadian Issuing Lender shall furnish a copy of such Letter of Credit to the Canadian Borrower, the U.S. Borrower and the Administrative Agent. The Canadian Issuing Lender shall
promptly furnish to the Administrative Agent, which the Administrative Agent shall in turn promptly furnish to the Canadian Revolving Lenders, notice of the issuance of each Canadian Letter of Credit (including the amount thereof). 

(c) Notwithstanding anything in this Agreement to the contrary, (i) each U.S. Issuing Lender shall each have the
right, by notice to the U.S. Borrower to decline to act as a U.S. Issuing Lender for any U.S. Letter of Credit that shall expire after the Initial Revolving Termination Date and (ii) each Canadian Issuing Lender shall each have the right, by
notice to the Canadian Borrower and the U.S. Borrower to decline to act as a Canadian Issuing Lender for any Canadian Letter of Credit that shall expire after the Initial Revolving Termination Date. 

3.9. Fees and Other Charges. 
 (a) (i) The U.S. Borrower will pay a fee on the aggregate drawable amount of all outstanding U.S. Letters of Credit at a per annum rate equal to the Applicable Margin with respect to Eurodollar Loans
under the U.S. Revolving Facility, shared ratably among the U.S. Revolving Lenders in accordance with their respective U.S. Revolving Credit Percentages (or, if different Applicable Margins are in effect for Eurodollar Loans made pursuant to
different U.S. Revolving Commitments, such fee shall be payable at the respective Applicable Margins then in effect based on the amount of U.S. Revolving Commitments entitled to such Applicable Margins and shall be shared ratably among the
respective U.S. Revolving Lenders based on the amount of their respective U.S. Revolving Commitments providing for such Applicable Margins) and (ii) each of the Canadian Borrower and the U.S. Borrower will pay a fee on the aggregate drawable
amount of all outstanding Canadian Letters of Credit issued at its request at a per annum rate equal to the Applicable Margin with respect to Eurodollar Loans under the Canadian Revolving Facility, shared ratably among the Canadian Revolving Lenders
in accordance with their respective Canadian Revolving Credit Percentages (or, if different Applicable Margins are in effect for Eurodollar Loans made pursuant to different Canadian Revolving Commitments, such fee shall be payable at the respective
Applicable Margins then in effect based on the amount of Canadian Revolving Commitments entitled to such Applicable Margins and shall be shared ratably among the respective Canadian Revolving Lenders based on the amount of their respective Canadian
Revolving Commitments providing for such Applicable Margins), and, in the case of each of clauses (i) and (ii), payable quarterly in arrears on each L/C Fee Payment Date after the applicable issuance date. 

  
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 (b) The U.S. Borrower and the Canadian Borrower, respectively, agree to pay
to any U.S. Issuing Lender and any Canadian Issuing Lender, respectively, a fronting fee (“Fronting Fee”), which shall accrue at the rate of 0.25% per annum on the average daily amount of the respective L/C Obligations
(excluding any portion thereof attributable to drawings under Letters of Credit that have not then been reimbursed pursuant to Section 3.11) of the U.S. Borrower and the Canadian Borrower during the period from and including the Closing Date
until, but excluding, the later of the date of termination of the Revolving Commitments and the date on which there ceases to be any such L/C Obligations, as well as such Issuing Lender’s customary fees with respect to the issuance, amendment,
renewal or extension of any Letter of Credit or processing of drawings thereunder. Accrued Fronting Fees shall be payable in arrears on each L/C Fee Payment Date, commencing on the first such date to occur after the Closing Date. Any such fees
accruing after the date on which the applicable Revolving Commitments terminate shall be payable on demand. Any other fees payable to any Issuing Lender pursuant to this paragraph shall be payable within 10 days after demand therefor. All
Fronting Fees shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day). 

(c) In addition to the foregoing fees, the U.S. Borrower and the Canadian Borrower, respectively, shall pay or reimburse
the U.S. Issuing Lender and the Canadian Issuing Lender, respectively, for such normal and customary costs and expenses as are incurred or charged by the applicable Issuing Lender in issuing, negotiating, effecting payment under, amending or
otherwise administering any Letter of Credit. 
 3.10. L/C Participations. 

(a) The U.S. Issuing Lender irrevocably agrees to grant and hereby grants to each U.S. L/C Participant, and, to induce the
U.S. Issuing Lender to issue U.S. Letters of Credit hereunder, each U.S. L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from the U.S. Issuing Lender, on the terms and conditions set forth below, for such
U.S. L/C Participant’s own account and risk an undivided interest equal to such U.S. L/C Participant’s U.S. Revolving Credit Percentage in the U.S. Issuing Lender’s obligations and rights under and in respect of each U.S. Letter of
Credit issued hereunder and the amount of each draft paid by the U.S. Issuing Lender thereunder. Each U.S. L/C Participant unconditionally and irrevocably agrees with the U.S. Issuing Lender that, if a draft is paid under any U.S. Letter of Credit
for which the U.S. Issuing Lender is not reimbursed in full by the U.S. Borrower in accordance with the terms of this Agreement, such U.S. L/C Participant shall pay to the Administrative Agent upon demand of the U.S. Issuing Lender an amount equal
to such U.S. L/C Participant’s U.S. Revolving Credit Percentage of the amount of such draft, or any part thereof, that is not so reimbursed. The Administrative Agent shall promptly forward such amounts to the U.S. Issuing Lender. 

(b) If any amount required to be paid by any U.S. L/C Participant to the Administrative Agent for the account of the U.S.
Issuing Lender pursuant to Section 3.10(a) in respect of any unreimbursed portion of any payment made by the U.S. Issuing Lender under any U.S. Letter of Credit is not paid to the Administrative Agent for the account of the U.S. Issuing Lender
on the Business Day such payment is due, such U.S. L/C Participant shall pay to the Administrative Agent for the account of the U.S. Issuing Lender on demand an amount equal to the product of (i) such amount, times (ii) the daily average
Federal Funds Effective Rate during the period from and including the date such payment is required to the date on which such payment is immediately available to the Issuing Lender, times (iii) a fraction, the numerator of which is the number
of days that elapse during such period and the denominator of which is 360. If any such amount required to be paid by any U.S. L/C Participant pursuant to Section 3.10(a) is not made available to the Administrative Agent for the account of the
U.S. Issuing Lender by such U.S. L/C Participant on the third Business Day after such payment is due, the U.S. Issuing Lender shall be entitled to recover from such U.S. L/C Participant, on demand, such amount with interest thereon calculated from
such due date at the rate per annum applicable to Base Rate Loans under the U.S. Revolving Facility. A certificate of the U.S. Issuing Lender submitted to any U.S. L/C Participant with respect to any amounts owing under this Section shall be
conclusive in the absence of manifest error. 

  
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 (c) Whenever, at any time after the U.S. Issuing Lender has made payment
under any U.S. Letter of Credit and has received from any U.S. L/C Participant its pro rata share of such payment in accordance with Section 3.10(a), the Administrative Agent or the U.S. Issuing Lender receives any payment related to such U.S.
Letter of Credit (whether directly from the U.S. Borrower or otherwise, including proceeds of collateral applied thereto by the U.S. Issuing Lender), or any payment of interest on account thereof, the Administrative Agent or the U.S. Issuing Lender,
as the case may be, will distribute to such U.S. L/C Participant its pro rata share thereof; provided, however, that in the event that any such payment received by the Administrative Agent or the U.S. Issuing Lender, as the case may
be, shall be required to be returned by the Administrative Agent or the U.S. Issuing Lender, such U.S. L/C Participant shall return to the Administrative Agent for the account of the U.S. Issuing Lender the portion thereof previously distributed to
it by the Administrative Agent or the U.S. Issuing Lender, as the case may be. 
 (d) The Canadian Issuing Lender
irrevocably agrees to grant and hereby grants to each Canadian L/C Participant, and, to induce the Canadian Issuing Lender to issue Canadian Letters of Credit hereunder, each Canadian L/C Participant irrevocably agrees to accept and purchase and
hereby accepts and purchases from the Canadian Issuing Lender, on the terms and conditions hereinafter stated, for such Canadian L/C Participant’s own account and risk, an undivided interest equal to such Canadian L/C Participant’s
Canadian Revolving Credit Percentage in the Canadian Issuing Lender’s obligations and rights under each Canadian Letter of Credit issued by the Canadian Issuing Lender hereunder and the amount of each draft paid by the Canadian Issuing Lender
thereunder. Each Canadian L/C Participant unconditionally and irrevocably agrees with the Canadian Issuing Lender that, if a draft is paid under any Canadian Letter of Credit issued by the Canadian Issuing Lender for which the Canadian Issuing
Lender is not reimbursed in full by the Canadian Borrower and the U.S. Borrower in accordance with the terms of this Agreement, such Canadian L/C Participant shall pay to the Administrative Agent upon demand of the Canadian Issuing Lender an amount
in Canadian Dollars or Dollars, as applicable, equal to such Canadian L/C Participant’s Canadian Revolving Credit Percentage of the amount of such draft, or any part thereof, that is not so reimbursed. The Administrative Agent shall promptly
forward such amounts to the Canadian Issuing Lender. 
 (e) If any amount required to be paid by any Canadian L/C
Participant to the Canadian Issuing Lender pursuant to Section 3.10(d) in respect of any unreimbursed portion of any payment made by the Canadian Issuing Lender under any Canadian Letter of Credit is paid to the Administrative Agent for the
Account of the Canadian Issuing Lender on the Business Day such payment is due, such Canadian L/C Participant shall pay to the Administrative Agent, for the account of the Canadian Issuing Lender on demand an amount equal to the product of
(i) such amount, times (ii) the daily average interbank offered rate quoted by the Administrative Agent during the period from and including the date such payment is required to the date on which such payment is immediately available to
the Canadian Issuing Lender, times (iii) a fraction, the numerator of which is the number of days that elapse during such period and the denominator of which is 360. If any such amount required to be paid by any Canadian L/C Participant
pursuant to Section 3.10(d) is not made available to the Administrative Agent, for the account of the Canadian Issuing Lender, by such Canadian L/C Participant within three Business Days after the date such payment is due, the Administrative
Agent, on behalf of the Canadian Issuing Lender, shall be entitled to recover from such Canadian L/C Participant, on demand, such amount with interest thereon calculated from such due date at the rate per annum applicable to Base Rate Loans under
the Canadian Revolving Facility for amounts due in Dollars and Canadian Prime Rate Loans under the Canadian Revolving Facility for amounts due in Canadian Dollars. A certificate of the Administrative Agent on behalf of the Canadian Issuing Lender
submitted to any Canadian L/C Participant with respect to any such amounts owing under this Section shall be conclusive in the absence of manifest error. 
 (f) Whenever, at any time after the Canadian Issuing Lender has made payment under any Canadian Letter of Credit and has received from the Administrative Agent any Canadian L/C Participant’s
pro rata share of such payment in accordance with Section 3.10(d), the Canadian Issuing Lender receives any payment related to such Canadian Letter of Credit (whether directly from the Canadian Borrower, the U.S. Borrower or
otherwise, including proceeds of collateral applied thereto by the Canadian Issuing Lender), or any payment of interest on account thereof, the Canadian Issuing Lender will distribute to the Administrative Agent for the account of such Canadian L/C
Participant (and thereafter, the Administrative 

  
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Agent will promptly distribute to such Canadian L/C Participant) its pro rata share thereof; provided, however, that in the event that any such payment received by the Canadian
Issuing Lender shall be required to be returned by the Canadian Issuing Lender, such Canadian L/C Participant shall return to the Administrative Agent for the account of the Canadian Issuing Lender the portion thereof previously distributed to it by
the Canadian Issuing Lender or the Administrative Agent, as the case may be. 
 3.11. Reimbursement Obligation of the U.S.
Borrower and Canadian Borrower. 
 (a) The U.S. Borrower agrees to reimburse the U.S. Issuing Lender, within
one Business Day of the date on which the U.S. Issuing Lender notifies Cedar Fair LP of the date and amount of a draft presented under any U.S. Letter of Credit and paid by the U.S. Issuing Lender in substantial conformity with the terms of such
U.S. Letter of Credit (as determined by the U.S. Issuing Lender in its reasonable discretion), for the amount of (a) such draft so paid and (b) any fees, charges or other costs or expenses incurred by the U.S. Issuing Lender in connection
with such payment (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the “Payment Amount”). Each such payment shall be made to the U.S. Issuing Lender at its address for
notices specified herein in Dollars and in immediately available funds. Interest shall be payable on the Payment Amount from the date of the applicable drawing until payment in full at the rate set forth in (i) until the second Business Day
following the date of the applicable drawing, Section 4.5(b) and (ii) thereafter, Section 4.5(f). Each drawing under any U.S. Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of
Section 9(f) shall have occurred and be continuing with respect to the U.S. Borrower, in which case the procedures specified in Section 3.10 for funding by U.S. L/C Participants shall apply) constitute a request by the U.S. Borrower to the
Administrative Agent for a borrowing pursuant to Section 3.2(a) of Base Rate Loans (or, at the option of the Administrative Agent and the U.S. Swing Line Lender in their sole discretion, a borrowing pursuant to Section 3.4(a) of U.S. Swing
Line Loans) in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of U.S. Revolving Loans (or, if applicable, U.S. Swing Line Loans) could be made, pursuant to
Section 3.2(a) (or, if applicable, Section 3.4(a)), if the Administrative Agent had received a notice of such borrowing at the time the Administrative Agent receives notice from the U.S. Issuing Lender of such drawing under such U.S.
Letter of Credit. All payments due from the U.S. Borrower hereunder in respect of U.S. Letters of Credit (and U.S. Reimbursement Obligations in connection therewith) shall be made in Dollars. 

(b) Each of the Canadian Borrower and the U.S. Borrower agrees to reimburse the Canadian Issuing Lender, within one
Business Day of the date on which the Canadian Issuing Lender notifies the Canadian Borrower or the U.S. Borrower of the date and amount of a draft presented under any Canadian Letter of Credit issued for such Borrower and paid by the Canadian
Issuing Lender in substantial conformity with the terms of such Canadian Letter of Credit (as determined by the Canadian Issuing Lender in its reasonable discretion), for the amount of (a) such draft so paid and (b) any fees, charges or
other costs or expenses incurred by the Canadian Issuing Lender in connection with such payment (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the “Canadian Payment
Amount”). Each such payment shall be made to the Canadian Issuing Lender at its address for notices specified herein in Canadian Dollars or Dollars, as applicable (as determined in accordance with the currency of such Canadian Letter of
Credit), and in immediately available funds. Interest shall be payable on the amount of each Canadian Payment Amount from the date of the applicable drawing until payment in full at the rate set forth in (i) until the second Business Day
following the date of the applicable drawing, Section 4.5(e) and (ii) thereafter, Section 4.5(f). Each drawing under any Canadian Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of
Section 9(f) shall have occurred and be continuing with respect to the Canadian Borrower and the U.S. Borrower, in which case the procedures specified in Section 3.10 for funding by L/C Participants shall apply) constitute a request by the
Canadian Borrower and the U.S. Borrower to the Administrative Agent for a borrowing pursuant to Section 3.2(b) of Canadian Prime Rate Loans (or, at the option of the Administrative Agent and the Canadian Swing Line Lender in their sole
discretion, a borrowing pursuant to Section 3.4(f) of Canadian Swing Line Loans) or Base Rate Loans, as applicable, in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of
Canadian Revolving Loans (or, if applicable, Canadian Swing Line Loans) could be made, pursuant to Section 3.2(b) (or, if applicable, Section 3.4(f)), if the Administrative Agent had received a notice of such borrowing at the time the

  
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Administrative Agent received notice from the Canadian Issuing Lender of such drawing under such Canadian Letter of Credit. All payments due from the Canadian Borrower and the U.S. Borrower
hereunder in respect of Canadian Letters of Credit (and Canadian Reimbursement Obligations in connection therewith) shall be made in Canadian Dollars or Dollars, as applicable (as determined in accordance with the currency of such Letter of Credit).

 3.12. Obligations Absolute. The obligations of the U.S. Borrower and Canadian Borrower under Section 3.11 shall
be absolute and unconditional under any and all circumstances and irrespective of any setoff, counterclaim or defense to payment that either Borrower may have or have had against any Issuing Lender, any beneficiary of a Letter of Credit or any other
Person. The U.S. Borrower and Canadian Borrower also agree with each Issuing Lender that no Issuing Lender shall be responsible for, and the Reimbursement Obligations of the U.S. Borrower and Canadian Borrower shall not be affected by, among other
things, the validity or genuineness of documents or of any endorsements thereon, even though such documents shall in fact prove to be invalid, fraudulent or forged, or any dispute between or among either such Borrower and any beneficiary of any
Letter of Credit or any other party to which such Letter of Credit may be transferred or any claims whatsoever of either such Borrower against any beneficiary of such Letter of Credit or any such transferee. No Issuing Lender shall be liable for any
error, omission, interruption or delay in transmission, dispatch or delivery of any message or advice, however transmitted, in connection with any Letter of Credit, except for errors or omissions found by a final and non-appealable decision of a
court of competent jurisdiction to have resulted from the gross negligence or willful misconduct of such Issuing Lender. The U.S. Borrower and Canadian Borrower agree that any action taken or omitted by any Issuing Lender under or in connection with
any Letter of Credit or the related drafts or documents, if done in the absence of gross negligence or willful misconduct and in accordance with the standards of care specified in the Uniform Commercial Code of the State of New York, shall be
binding on the U.S. Borrower and Canadian Borrower and shall not result in any liability of such Issuing Lender to the U.S. Borrower and Canadian Borrower. 
 3.13. Letter of Credit Payments. If any draft shall be presented for payment (a) under any U.S. Letter of Credit, the applicable U.S. Issuing Lender shall promptly notify the U.S. Borrower of
the date and amount thereof and (b) under any Canadian Letter of Credit, the applicable Canadian Issuing Lender shall promptly notify the Canadian Borrower and the U.S. Borrower of the date and amount thereof. The responsibility of the Issuing
Lenders to the U.S. Borrower and Canadian Borrower in connection with any draft presented for payment under any Letter of Credit shall, in addition to any payment obligation expressly provided for in such Letter of Credit, be limited to determining
that the documents (including each draft) delivered under such Letter of Credit in connection with such presentment are substantially in conformity with such Letter of Credit. 
 3.14. Applications. To the extent that any provision of any Application related to any Letter of Credit is inconsistent with the provisions of this Section 3, the provisions of this
Section 3 shall apply. 
 3.15. Replacement Revolving Commitments. 

(a) Either the U.S. Borrower or the Canadian Borrower may at any time and from time to time by written notice to
Administrative Agent elect to request the establishment of replacement revolving commitments (“Replacement Revolving Commitments”) under the U.S. Revolving Facility or the Canadian Revolving Facility in order to effectively extend
the Revolving Termination Date for such Revolving Commitments. Each such notice shall specify the date (each, a “Replacement Revolving Facility Effective Date”) on which such Borrower proposes that the Replacement Revolving
Commitments shall become effective, which shall be a date not less than five Business Days after the date on which such notice is delivered to the Administrative Agent; provided that: 

(i) before and after giving effect to the establishment of such Replacement Revolving Commitments on the Replacement
Revolving Facility Effective Date each of the conditions set forth in Section 6.2 shall be satisfied; 

(ii) after giving effect to the establishment of any Replacement Revolving Commitments and any concurrent reduction in the
aggregate amount of any other Revolving Commitments, the aggregate amount of Revolving Commitments shall not exceed the aggregate amount of the Revolving Commitments 

  
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outstanding on the Replacement Revolving Facility Effective Date (after giving effect to the reduction in the Revolving Commitments on the Replacement Revolving Facility Effective Date);

 (iii) no Replacement Revolving Commitments shall have a scheduled termination date prior to the Revolving
Termination Date (or if later, the date required pursuant to any Replacement Revolving Facility Amendment); 

(iv) all other terms applicable to such Replacement Revolving Commitments (other than provisions relating to fees and
interest rates which shall be as agreed between the applicable Borrower and the Lenders providing such Replacement Revolving Commitments and provisions relating to Swing Line Loans and Letters of Credit that do not change the obligations of any
Lender that is not providing a Replacement Revolving Commitment) shall be substantially identical to, or less favorable to the Lenders providing such Replacement Revolving Commitments than, those applicable to the then effective U.S. Revolving
Commitments (in the case of Replacement Revolving Commitments of the U.S. Borrower) or the Canadian Revolving Commitments (in the case of Replacement Revolving Commitments of the Canadian Borrower); 

(v) there shall be no more than two Revolving Termination Dates in effect at any time under the U.S. Revolving Facility
and no more than two Revolving Termination Dates in effect at any time under the Canadian Revolving Facility; and 
 (vi) the Loan Parties and the Collateral Agent shall enter into such amendments to the Security Documents as may be reasonably requested by the Collateral Agent in order to ensure that the Replacement
Revolving Loans are provided with the benefit of the applicable Security Documents and shall deliver such other documents, certificates and opinions of counsel in connection therewith as may be requested by the Collateral Agent. 

(b) The applicable Borrower may approach any Lender or any other Person that would be a permitted Assignee of a Revolving
Commitment pursuant to Section 11.6 to provide all or a portion of the Replacement Revolving Commitments (a “Replacement Revolving Lender”); provided that any Lender offered or approached to provide all or a portion of
the Replacement Revolving Commitments may elect or decline, in its sole discretion, to provide a Replacement Revolving Commitment and the selection of Replacement Revolving Lender shall be subject to any consent that would be required pursuant to
Section 11.6. 
 (c) The Replacement Revolving Commitments shall be established pursuant to an amendment to
this Agreement among each applicable Borrower, the Administrative Agent and the Replacement Revolving Lenders providing such Replacement Revolving Commitments (a “Replacement Revolving Facility Amendment”) which shall be consistent
with the provisions set forth in paragraph (a) above. 
 (d) On any Replacement Revolving Facility Effective
Date, subject to the satisfaction of the foregoing terms and conditions, each of the Replacement Revolving Lenders with Replacement Revolving Commitments of such Replacement Revolving Commitment Series shall purchase from each of the other Lenders
with Revolving Commitments, at the principal amount thereof and in the applicable currencies, such interests in the Revolving Loans outstanding on such Replacement Revolving Facility Effective Date as may be specified by the Administrative Agent and
as shall be necessary in order that, after giving effect to all such assignments and purchases, the Revolving Loans under such Revolving Credit Facility will be held by the Lenders thereunder ratably in accordance with their applicable Revolving
Credit Percentages. 
 SECTION 4. GENERAL PROVISIONS APPLICABLE TO LOANS AND LETTERS OF CREDIT 

4.1. Optional Prepayments. 

  
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 (a) Subject to Section 4.11, the Borrowers may at any time and from
time to time prepay the Loans under any Facility, as elected by the applicable Borrower(s) (other than BA Loans but subject to Section 3.2(c)(xi)), in whole or in part, without premium or penalty (subject to Section 4.17), upon irrevocable
notice delivered by Cedar Fair LP to the Administrative Agent no later than 11:00 A.M., New York City time, three Business Days prior thereto, in the case of Eurodollar Loans, and no later than 11:00 A.M., New York City time, one Business Day prior
thereto, in the case of Base Rate Loans and Canadian Prime Rate Loans, which notice shall specify the date and amount of prepayment and whether the prepayment is of Eurodollar Loans, Base Rate Loans or Canadian Prime Rate Loans (and under which
Facility such Loans are being prepaid); provided that if a Eurodollar Loan is prepaid on any day other than the last day of the Interest Period applicable thereto, the applicable Borrower(s) shall also pay any amounts owing pursuant to
Section 4.11; provided further, no Extended Term Loans of any Extension Series shall be prepaid prior to the date on which all Term Loans of the Existing Term Loan Facility from which such Extended Term Loans were converted unless
such prepayment of Extended Term Loans is accompanied by a pro rata prepayment of Term Loans under such Existing Term Loan Facility. Upon receipt of any such notice the Administrative Agent shall promptly notify each relevant Lender thereof. If any
such notice is given, the amount specified in such notice shall be due and payable on the date specified therein, together with (except in the case of Revolving Loans that are Base Rate Loans, Canadian Prime Rate Loans, BA Loans and Swing Line
Loans) accrued interest to such date on the amount prepaid. Partial prepayments of Term Loans and Revolving Loans shall be in an aggregate principal amount of $1,000,000 or C$1,000,000 or a whole multiple thereof. Partial prepayments of Swing Line
Loans shall be in an aggregate principal amount of $100,000 or C$100,000 or a whole multiple thereof. Any prepayment of Loans under any Facility pursuant to this Section 4.1 shall be applied on a pro rata basis to the Loans of each Lender under
such Facility. Unless otherwise directed by the applicable Borrower, any such prepayment shall be applied in direct order of maturity of scheduled repayments of such Facility. 

(b) 
 (i) Notwithstanding anything to the contrary in Section 4.1(a) (which provisions shall not be applicable to this Section 4.1(b)), the Borrowers shall have the right at any time and from time to
time to prepay Term Loans under any Facility from Lenders electing to participate in such prepayments at a discount to the par value of such Loans and on a non-pro rata basis (each, a “Discounted Voluntary Prepayment”) pursuant to
the procedures described in this Section 4.1(b); provided that (A) no Discounted Voluntary Prepayment shall be made unless (A) immediately after giving effect to such Discounted Voluntary Prepayment, (i) no Default or
Event of Default has occurred and is continuing, (ii) the U.S. Borrower is in pro forma compliance with the covenants set forth in Section 8.1, as of the most recently completed period for which the financial statements required by
Section 7.1(a) and (b) were required to be delivered and (iii) the Available Liquidity shall be no less than (x) $75,000,000, if the Discounted Voluntary Prepayment is scheduled during the months of March, April and May of any
given year, (y) $250,000,000, if the Discounted Voluntary Prepayment is scheduled during the months of August, September, October and November of any given year, and (z) $150,000,000, if the Discounted Voluntary Prepayment is scheduled
during any other month of any given year, each on a Pro Forma Basis immediately after giving effect to such Discounted Voluntary Prepayment (assuming maximum participation therein), (B) any Discounted Voluntary Prepayment shall be offered to
all Lenders with Term Loans under the applicable Facility on a pro rata basis and (C) the Borrowers shall deliver to the Administrative Agent a certificate of the Chief Financial Officer of the U.S. Borrower stating (1) that no Default or
Event of Default has occurred and is continuing or would result from the Discounted Voluntary Prepayment (after giving effect to any related waivers or amendments obtained in connection with such Discounted Voluntary Prepayment), (2) that each
of the conditions to such Discounted Voluntary Prepayment contained in this Section 4.1(b) has been satisfied and (3) the aggregate principal amount of Term Loans so prepaid pursuant to such Discounted Voluntary Prepayment. 

(ii) To the extent the Borrowers seeks to make a Discounted Voluntary Prepayment, the Borrowers will provide written
notice to the Administrative Agent substantially in the form of Exhibit Q hereto (each, a “Discounted Prepayment Option Notice”) that the Borrowers desire to prepay Term Loans under a specified Facility in each case in an aggregate
principal amount specified therein by the Borrowers (each, a “Proposed Discounted Prepayment Amount”), in each case at a discount to the par value of such Term 

  
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Loans as specified below. The Proposed Discounted Prepayment Amount of Term Loans shall not be less than $25,000,000. The Discounted Prepayment Option Notice shall further specify with respect to
the proposed Discounted Voluntary Prepayment: (A) the Proposed Discounted Prepayment Amount for Term Loans, (B) a discount range (which may be a single percentage) selected by the U.S. Borrower with respect to such proposed Discounted
Voluntary Prepayment equal to a percentage of par of the principal amount of Term Loans (the “Discount Range”) and (C) the date by which Lenders are required to indicate their election to participate in such proposed Discounted
Voluntary Prepayment which shall be at least five Business Days following the date of the Discounted Prepayment Option Notice (the “Acceptance Date”). 

(iii) Upon receipt of a Discounted Prepayment Option Notice in accordance with Section 4.1(b)(ii), the Administrative
Agent shall promptly notify each applicable Lender thereof. On or prior to the Acceptance Date, each Lender under the applicable Facility may specify by written notice substantially in the form of Exhibit R hereto (each, a “Lender
Participation Notice”) to the Administrative Agent (A) a maximum discount to par (the “Acceptable Discount”) within the Discount Range (for example, a Lender specifying a discount to par of 20% would accept a
prepayment price of 80% of the par value of the Term Loans to be prepaid) and (B) a maximum principal amount (subject to rounding requirements specified by the Administrative Agent) of Term Loans held by such Lender with respect to which such
Lender is willing to permit a Discounted Voluntary Prepayment at the Acceptable Discount (“Offered Loans”). Based on the Acceptable Discounts and principal amounts of Term Loans under the applicable Facility specified by the Lenders
in Lender Participation Notices, the Administrative Agent, in consultation with the Borrowers, shall calculate the applicable discount for Term Loans (the “Applicable Discount”), which Applicable Discount shall be (A) the
percentage specified by the Borrowers if the Borrowers have selected a single percentage pursuant to Section 4.1(b)(ii) for the Discounted Voluntary Prepayment or (B) otherwise, the highest Acceptable Discount at which the Borrowers can
pay the Proposed Discounted Prepayment Amount in full (determined by adding the principal amounts of Offered Loans commencing with the Offered Loans with the highest Acceptable Discount); provided, however, that in the event that such
Proposed Discounted Prepayment Amount cannot be repaid in full at any Acceptable Discount, the Applicable Discount shall be the lowest Acceptable Discount specified by the Lenders that is within the Discount Range. The Applicable Discount shall be
applicable for all Lenders under the applicable Facility who have offered to participate in the Discounted Voluntary Prepayment and have Qualifying Loans (as defined below). Any Lender with outstanding Term Loans under the applicable Facility whose
Lender Participation Notice is not received by the Administrative Agent by the Acceptance Date shall be deemed to have declined to accept a Discounted Voluntary Prepayment of any of its Term Loans at any discount to their par value within the
Applicable Discount. 
 (iv) The Borrowers shall make a Discounted Voluntary Prepayment by prepaying those Term
Loans (or the respective portions thereof) under the applicable Facility offered by the Lenders (“Qualifying Lenders”) that specify an Acceptable Discount that is equal to or greater than the Applicable Discount (“Qualifying
Loans”) at the Applicable Discount; provided that if the aggregate proceeds required to prepay all Qualifying Loans (disregarding any interest payable at such time) would exceed the amount of aggregate proceeds required to prepay the
Proposed Discounted Prepayment Amount, such amounts in each case calculated by applying the Applicable Discount, the Borrowers shall prepay such Qualifying Loans ratably among the Qualifying Lenders based on their respective principal amounts of
such Qualifying Loans (subject to rounding requirements specified by the Administrative Agent). If the aggregate proceeds required to prepay all Qualifying Loans (disregarding any interest payable at such time) would be less than the amount of
aggregate proceeds required to prepay the Proposed Discounted Prepayment Amount, such amounts in each case calculated by applying the Applicable Discount, the Borrowers shall prepay all Qualifying Loans. 

(v) Each Discounted Voluntary Prepayment shall be made within five Business Days of the Acceptance Date (or such later
date as the Administrative Agent shall reasonably agree, given the time required to calculate the Applicable Discount and determine the amount and holders of Qualifying Loans), without premium or penalty (but subject to Section 4.16), upon
irrevocable notice substantially in the form of Exhibit S hereto (each a “Discounted Voluntary Prepayment Notice”), delivered to the Administrative Agent no later than 1:00 P.M. New York City time, three Business Days prior to
the date of such Discounted Voluntary Prepayment, which notice shall specify the date and amount of the Discounted Voluntary 

  
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Prepayment and the Applicable Discount determined by the Administrative Agent. Upon receipt of any Discounted Voluntary Prepayment Notice the Administrative Agent shall promptly notify each
relevant Lender thereof. If any Discounted Voluntary Prepayment Notice is given, the amount specified in such notice shall be due and payable to the applicable Lenders, subject to the Applicable Discount on the applicable Loans, on the date
specified therein together with accrued interest (on the par principal amount) to, but not including, such date on the amount prepaid. 
 (vi) To the extent not expressly provided for herein, each Discounted Voluntary Prepayment shall be consummated pursuant to reasonable procedures (including as to timing, rounding, minimum amounts, Type
and Interest Periods and calculation of Applicable Discount in accordance with Section 4.1(b)(iii) above) established by the Administrative Agent in consultation with the Borrowers. 

(vii) Prior to the delivery of a Discounted Voluntary Prepayment Notice, upon written notice to the Administrative Agent,
(A) the Borrowers may withdraw their offer to make a Discounted Voluntary Prepayment pursuant to any Discounted Prepayment Option Notice and (B) any Lender may withdraw its offer to participate in a Discounted Voluntary Prepayment pursuant
to any Lender Participation Notice. 
 (viii) To the extent the Term Loans under any Facility are prepaid
pursuant to this Section 4.1(b), scheduled amortization amounts for the Term Loans under such Facility pursuant to Section 2.3 shall be reduced on a pro rata basis by the principal amount of the Term Loans so prepaid. 

4.2. Mandatory Prepayments and Revolving Commitment Reductions. 

(a) If any Capital Stock shall be issued by Cedar Fair LP (other than Capital Stock issued to employees and officers of a
Group Member pursuant to an established compensation plan) or any capital contribution is made to Cedar Fair LP (other than a capital contribution by any Group Member), an amount equal to 50% of the Net Cash Proceeds thereof shall be applied on the
date of such issuance or contribution toward the prepayment of the Term Loans as set forth in Section 4.2(e). 
 (b) Subject to Section 4.16, if (x) any Indebtedness (other than Excluded Indebtedness) shall be issued or incurred by any Group Member, (y) any Refinancing Term Loans are borrowed or
(z) any Group Member shall receive Net Cash Proceeds from an Asset Sale pursuant to Section 8.5(g), an amount equal to 100% of the Net Cash Proceeds thereof shall be applied, in the case of clauses (x) and (y), on the date of such
issuance or incurrence and in the case of clause (z), within two Business Days following the receipt of such Net Cash Proceeds, toward the prepayment of the Term Loans as set forth in Section 4.2(e). 

(c) If any Group Member shall receive Net Cash Proceeds from any Asset Sale or Recovery Event (other than a Disposition
pursuant to Section 8.5(g)), unless a Reinvestment Notice shall have been delivered by a Group Member within five Business Days of the receipt of such Net Cash Proceeds, such Net Cash Proceeds shall be applied by Cedar Fair LP on the tenth
Business Day following receipt thereof toward the prepayment of the Term Loans in the amount and in the manner set forth in Section 4.2(e); provided that, notwithstanding the foregoing, on each Reinvestment Prepayment Date, an amount
equal to the Reinvestment Prepayment Amount with respect to the relevant Reinvestment Event shall be applied toward the prepayment of the Term Loans in the amount and in the manner set forth in Section 4.2(e). 

Notwithstanding the foregoing, the provisions of this Section 4.2(c) do not constitute a consent to the consummation of any
Disposition not permitted by Section 8.5. 
 (d) If there shall be positive Excess Cash Flow for any fiscal
year commencing with the fiscal year ending December 31, 2011 (any such fiscal year, a “Subject Fiscal Year”), the Borrowers shall, on the relevant Excess Cash Flow Application Date for each such Subject Fiscal Year, apply an
amount equal to the excess, if any, of (x) the Applicable ECF Percentage of Excess Cash Flow for such Subject Fiscal Year minus (y)(i) any voluntary prepayments of Term Loans pursuant to Section 4.1 during such Subject Fiscal Year (other
than prepayments funded with the proceeds of Indebtedness) toward the 

  
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prepayment of the Term Loans as set forth in Section 4.2(e) and (ii) all voluntary prepayments of Revolving Loans (other than prepayments funded with the proceeds of Indebtedness)
during such Fiscal Year to the extent Revolving Commitments are permanently reduced by the amount of such prepayments. Each such prepayment shall, for each applicable Subject Fiscal Year, be made on the date (an “Excess Cash Flow Application
Date”) that is not later than June 30 of the year following such Subject Fiscal Year. 
 (e)
Amounts to be applied in connection with prepayments of the Term Loans made pursuant to Sections 4.2(a), (b), (c) and (d) shall be applied to the prepayment of U.S. Term-1 Loans and, to the extent required by the terms of any Extended Term
Loans, Refinancing Term Loans or Incremental Term Loans, on a pro rata basis (based on the amount of Term Loans under each Facility requiring such a payment) to such other Term Loans. Amounts applied to prepay the Term Loans under any Facility shall
be applied on a pro rata basis to repay the Term Loans under such Facility of each Lender. Unless otherwise directed by the Borrowers, any such prepayment shall be applied in direct order of maturity of scheduled repayments of such Facility.

 (f) If at any time (i) the aggregate U.S. Revolving Extensions of Credit of all U.S. Revolving Lenders
exceed the U.S. Revolving Commitments of all U.S. Lenders, the U.S. Borrower shall immediately repay the U.S. Revolving Loans and/or U.S. Swing Line Loans and/or terminate or cash collateralize outstanding U.S. Letters of Credit in any such case, as
and to the extent necessary to ensure that the U.S. Revolving Extensions of Credit of each U.S. Revolving Lender are less than or equal to the U.S. Revolving Commitments of such U.S. Revolving Lender, (ii) the aggregate Canadian Revolving
Extensions of Credit of all Canadian Revolving Lenders exceed the Canadian Revolving Commitments of all Canadian Revolving Lenders (in the case of any Canadian Revolving Extensions of Credit made in Canadian Dollars, valued at the Dollar Equivalent
of such Canadian Dollars as of the relevant date of determination), the Canadian Borrower and the U.S. Borrower shall immediately repay the Canadian Revolving Loans and/or Canadian Swing Line Loans and/or terminate or cash collateralize outstanding
Canadian Letters of Credit, in any such case, as and to the extent necessary to ensure that the Canadian Revolving Extensions of Credit of each Canadian Revolving Lender are less than or equal to the Canadian Revolving Commitments of such Canadian
Revolving Lender (in the case of any Canadian Revolving Extensions of Credit made in Canadian Dollars, valued at the Dollar Equivalent of such Canadian Dollars as of the relevant date of determination) or (iii) the aggregate Replacement
Revolving Extensions of Credit under any Replacement Revolving Facility of all Replacement Revolving Lenders thereunder exceed the Replacement Revolving Commitments under such Replacement Revolving Facility of all Replacement Revolving Lenders (in
the case of any Replacement Revolving Extensions of Credit made in Canadian Dollars, valued at the Dollar Equivalent of such Canadian Dollars as of the relevant date of determination), the Borrower under such Replacement Revolving Facility shall
immediately repay the Replacement Revolving Loans under such Replacement Revolving Facility as and to the extent necessary to ensure that the Replacement Revolving Extensions of Credit of each Replacement Revolving Lender under such Replacement
Revolving Facility are less than or equal to the Replacement Revolving Commitments of such Replacement Revolving Lender under such Replacement Revolving Facility (in the case of any Replacement Revolving Extensions of Credit made in Canadian
Dollars, valued at the Dollar Equivalent of such Canadian Dollars as of the relevant date of determination). 

(g) The Borrowers shall prepay all U.S. Term Loans that are not Converted U.S. Term Loans on the Amendment No. 1
Effective Date. 
 4.3. Conversion and Continuation Options. 

(a) Each of the Borrowers may elect from time to time to convert Eurodollar Loans to Base Rate Loans, and the Canadian
Borrower and the U.S. Borrower may elect to convert BA Loans at the expiry of the relevant Interest Period to Canadian Prime Rate Loans, by giving the Administrative Agent at least two Business Days’ prior irrevocable notice of such election;
provided that any such conversion of Eurodollar Loans and BA Loans may be made only on the last day of an Interest Period with respect thereto. Each of the Borrowers may elect from time to time to convert Base Rate Loans to Eurodollar Loans,
and the Canadian Borrower and the U.S. Borrower may elect to convert Canadian Prime Rate Loans to BA Loans, by giving the Administrative Agent at least three Business Days’ prior irrevocable notice as to

  
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Eurodollar Loans, and two Business Days’ prior irrevocable notice as to BA Loans, of such election (which notice shall specify the length of the initial Interest Period therefor);
provided that no Base Rate Loan under a particular Facility may be converted into a Eurodollar Loan and no Canadian Prime Rate Loan may be converted into a BA Loan (i) when any Event of Default has occurred and is continuing and the
Administrative Agent, or the Majority Facility Lenders (in the case of the applicable Facility) have determined in its or their sole discretion not to permit such conversions or (ii) if the applicable Interest Period selected by the applicable
Borrower extends beyond the Revolving Termination Date of any Revolving Commitments then in effect under the applicable Revolving Credit Facility, in the case of any Revolving Loans thereunder, or the applicable maturity date, in the case of the
Term Loans under any Facility. Upon receipt of any such notice the Administrative Agent shall promptly notify each relevant Lender thereof. 
 (b) Each of the Borrowers may elect to continue any Eurodollar Loan as such and the Canadian Borrower and the U.S. Borrower may elect to continue any BA Loan as such upon the expiration of the then
current Interest Period with respect thereto by giving at least three Business Days’ prior irrevocable notice as to Eurodollar Loans, and two Business Days’ prior irrevocable notice as to BA Loans, to the Administrative Agent in accordance
with the applicable provisions of the term “Interest Period” set forth in Section 1.1, of the length of the next Interest Period to be applicable to such Loans; provided that no Eurodollar Loan or BA Loan under a particular
Facility may be continued as such (i) when any Event of Default has occurred and is continuing and the Administrative Agent has or the Majority Facility Lenders in respect of such Facility have, determined in its or their sole discretion not to
permit such continuations or (ii) after the date that is one month prior to the final scheduled termination or maturity date of such Facility (or any Revolving Commitments then in effect under such Facility); and provided further,
that if the applicable Borrower shall fail to give any required notice as described above in this paragraph (i) such Eurodollar Loans shall be continued for the same Interest Period as the then expiring Interest Period as of the last day of
such then expiring Interest Period, except that if such continuation is not permitted pursuant to the first proviso in this Section 4.3(b) such Loans shall be repaid or (if not so repaid) converted automatically to Base Rate Loans and
(ii) the face amount of such BA Loan shall be repaid or (if not so repaid) automatically converted to Canadian Prime Rate Loans, in each case on the last day of such then expiring Interest Period. Upon receipt of any such notice the
Administrative Agent shall promptly notify each relevant Lender thereof. 
 (c) Neither the conversion nor the
continuation of any Loan pursuant to any provision of this Agreement (i) creates a new Loan or other obligation or constitutes a novation of such Loan or (ii) constitutes or requires the repayment and/or readvance of any principal amount
of such Loan. Rather, such conversion or continuation of any Loan merely constitutes a change in the manner in which interest is calculated and payable on such Loan in accordance with the interest rate options available under this Agreement.

 4.4. Limitations on Eurodollar Tranches. 

(a) Notwithstanding anything to the contrary in this Agreement, all borrowings, conversions, continuations and optional
prepayments of Eurodollar Loans and all selections of Interest Periods shall be in such amounts and be made pursuant to such elections so that, (i) after giving effect thereto, the aggregate principal amount of the Eurodollar Loans comprising
each Eurodollar Tranche shall be equal to $5,000,000 or a whole multiple of $1,000,000 in excess thereof and (ii) no more than twelve Eurodollar Tranches shall be outstanding at any one time. 

(b) Notwithstanding anything to the contrary in this Agreement, all borrowings, conversions, continuations and optional
prepayments of BA Loans and all selections of Interest Periods shall be in such amounts and be made pursuant to such elections so that (i) after giving effect thereto, the aggregate principal amount of any BA Loan shall be equal to C$5,000,000
or a whole multiple of C$1,000,000 in excess thereof and (ii) no more than eight BA Loans shall be outstanding at any one time. 

  
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 4.5. Interest Rates and Payment Dates. 

(a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per
annum equal to the Eurodollar Rate determined for such day plus the Applicable Margin. 
 (b) Each Base Rate Loan
shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such day. 

(c) Each U.S. Swing Line Loan shall bear interest for each day on which it is outstanding in accordance with
Section 3.3(a). Each Canadian Swing Line Loan shall bear interest for each day on which it is outstanding in accordance with Section 3.3(c). 
 (d) Each Canadian Prime Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Canadian Prime Rate in effect for such day plus the Applicable Margin in
effect for such day. 
 (e) On the Borrowing Date in respect of a BA Loan, the Canadian Borrower or the U.S.
Borrower borrowing such Loan shall pay to the Administrative Agent for the benefit of the Lenders the Acceptance Fee calculated on the face amount of the applicable Bankers’ Acceptances at a rate per annum equal to the Applicable Margin on the
basis of the number of days in the Interest Period for the BA Loan and a year of 365 days. 
 (f) (i) If all or a
portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise) or an Event of Default exists under Section 9(f), such overdue amounts or, in the
case of such an Event of Default, all outstanding Loans and Reimbursement Obligations (in either case, to the extent legally permitted), shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would
otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2.00%, (y) in the case of the U.S. Borrower’s Reimbursement Obligations, the rate applicable to such Base Rate Loans under the U.S. Revolving
Facility plus 2.00%, or (z) in the case of the Canadian Borrower’s or the U.S. Borrower’s Reimbursement Obligations, (A) the rate applicable to Canadian Prime Rate Loans under the Canadian Revolving Facility plus 2.00% if
denominated in Canadian Dollars and (B) the rate applicable to Base Rate Loans under the Canadian Revolving Facility plus 2.00% if denominated in Dollars, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement
Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then
applicable to such (A) Base Rate Loans under the relevant Facility plus 2.00% for interest due in Dollars, and (B) Canadian Prime Rate Loans plus 2.00% for interest due in Canadian Dollars (or, in the case of any such other amounts that do
not relate to a particular Facility, the rate then applicable to Base Rate Loans under the U.S. Revolving Facility and/or the Canadian Revolving Facility plus 2.00% for amounts due in Dollars and the rate then applicable to Canadian Prime Rate Loans
plus 2.00% for amounts due in Canadian Dollars), in each case, with respect to clauses (i) and (ii) above, from the date of such non payment until such amount is paid in full (after as well as before judgment). 

(g) Interest shall be payable in arrears on each Interest Payment Date; provided that interest accruing pursuant to
paragraph (f) of this Section shall be payable from time to time on demand. 
 (h) If any provision of this
Agreement or any of the other Loan Documents would obligate any Loan Party to make any payment of interest with respect to the Canadian Obligations or other amount payable to any Agent or any Lender in an amount or calculated at a rate which would
be prohibited by law or would result in a receipt by such Agent or such Lender of interest with respect to the Canadian Obligations at a criminal rate (as such terms are construed under the Criminal Code (Canada)) then, notwithstanding such
provision, such amount or rates shall be deemed to have been adjusted with retroactive effect to the maximum amount or rate of interest, as the case may be, as would not be so prohibited by law or so result in a receipt by such Agent or such Lender
of interest with respect to the Canadian Obligations 

  
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at a criminal rate, such adjustment to be effected, to the extent necessary, as follows: (1) first, by reducing the amount or rates of interest required to be paid to the affected Agent or
the affected Lender under Section 4.5(f); and (2) thereafter, by reducing any fees, commissions, premiums and other amounts required to be paid to the affected Agent or the affected Lender which would constitute interest with respect to
the Canadian Obligations for purposes of Section 347 of the Criminal Code (Canada). Notwithstanding the foregoing, and after giving effect to all adjustments contemplated thereby, if any Agent or any Lender shall have received an amount in
excess of the maximum permitted by that section of the Criminal Code (Canada), then the applicable Loan Party shall be entitled, by notice in writing to the affected Agent or the affected Lender, to obtain reimbursement from such Agent or such
Lender in an amount equal to such excess, and pending such reimbursement, such amount shall be deemed to be an amount payable by such Agent or such Lender to the applicable Loan Party. Any amount or rate of interest under the Canadian Obligations
referred to in this Section 4.5(h) shall be determined in accordance with generally accepted actuarial practices and principles as an effective annual rate of interest over the term that any Canadian Revolving Loans remain outstanding on the
assumption that any charges, fees or expenses that fall within the meaning of “interest” (as defined in the Criminal Code (Canada)) shall, if they relate to a specific period of time, be pro rated over that period of time and otherwise be
pro rated over the period from the Closing Date to the applicable maturity date therefor, and, in the event of a dispute, a certificate of a Fellow of the Canadian Institute of Actuaries appointed by the Administrative Agent shall be conclusive for
the purposes of such determination. 
 (i) For purposes of disclosure pursuant to the Interest Act (Canada), the
annual rates of interest or fees to which the rates of interest or fees provided in this Agreement and the other Loan Documents (and stated herein or therein, as applicable, to be computed on the basis of a 360 day year or any other period of time
less than a calendar year) are equivalent to the rates so determined multiplied by the actual number of days in the applicable calendar year and divided by 360 or such other period of time, respectively. 

4.6. Computation of Interest and Fees. 
 (a) Interest, fees and commissions payable pursuant hereto shall be calculated on the basis of a 360 day year for the actual days elapsed, except that, with respect to (i) Base Rate Loans the rate of
interest on which is calculated on the basis of the Prime Rate, (ii) Canadian Prime Rate Loans the rate of interest on which is calculated on the basis of the Canadian Prime Rate and (iii) BA Loans, the interest thereon shall be calculated
on the basis of a 365 (or, except in the case of BA Loans, 366, as the case may be) day year for the actual days elapsed. The Administrative Agent shall as soon as practicable notify the applicable Borrower and the relevant Lenders of each
determination of a Eurodollar Rate. Any change in the interest rate on a Loan resulting from a change in the Base Rate, Canadian Prime Rate or the Eurocurrency Reserve Requirements shall become effective as of the opening of business on the day on
which such change becomes effective. The Administrative Agent shall as soon as practicable notify the applicable Borrower and the relevant Lenders of the effective date and the amount of each such change in interest rate. 

(b) Each determination of an interest rate by the Administrative Agent, pursuant to any provision of this Agreement shall
be conclusive and binding on the Borrowers and the Lenders in the absence of manifest error. The Administrative Agent shall, at the request of Cedar Fair LP, deliver to Cedar Fair LP a statement showing the quotations used by the Administrative
Agent in determining any interest rate pursuant to Section 4.6(a). 
 4.7. Inability To Determine Interest Rate. If
prior to the first day of any Interest Period: 
 (a) the Administrative Agent shall have determined (which
determination shall be conclusive and binding upon the Borrowers) that, by reason of circumstances affecting the relevant market, adequate and reasonable means do not exist for ascertaining the Eurodollar Rate for such Interest Period, or

 (b) the Administrative Agent shall have received notice from the Majority Facility Lenders in respect of the
relevant Facility that the Eurodollar Rate determined or to be determined for such Interest 

  
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Period will not adequately and fairly reflect the cost to such Lenders (as conclusively certified by such Lenders) of making or maintaining their affected Loans during such Interest Period,

 the Administrative Agent shall give telecopy or telephonic notice thereof to the applicable Borrower and the relevant Lenders as soon as
practicable thereafter. If such notice is given (x) any Eurodollar Loans under the relevant Facility requested to be made on the first day of such Interest Period shall be made as Base Rate Loans, (y) any Loans under the relevant Facility
that were to have been converted on the first day of such Interest Period to Eurodollar Loans shall be continued as Base Rate Loans and (z) any outstanding Eurodollar Loans under the relevant Facility shall be converted, on the last day of the
then current Interest Period, to Base Rate Loans. Until such notice has been withdrawn by the Administrative Agent no further Eurodollar Loans under the relevant Facility shall be made or continued as such, nor shall the Borrowers have the right to
convert Loans under the relevant Facility to Eurodollar Loans. 
 4.8. Pro Rata Treatment and Payments. 

(a) All payments (including prepayments) to be made by any Borrower hereunder, whether on account of principal, interest,
fees or otherwise, shall be made without setoff or counterclaim. All payments (including prepayments) to be made by the Borrowers, as applicable, hereunder with respect to the U.S. Facilities whether on account of principal, interest, fees or
otherwise shall be made prior to 12:00 Noon, New York City time, on the due date thereof to the Administrative Agent, for the account of the applicable Lenders, at the Funding Office, in Dollars and in immediately available funds. Any payment made
by the Borrowers after 12:00 Noon, New York City time, on any Business Day shall be deemed to have been made on the next following Business Day. The Administrative Agent shall distribute such payments to the applicable Lenders promptly upon receipt
in like funds as received. All payments (including prepayments) to be made by each of the Canadian Borrower and the U.S. Borrower hereunder with respect to the Canadian Revolving Loans, whether on account of principal, interest, fees or otherwise,
shall be made prior to 12:00 Noon, Toronto time, on the due date thereof to the Administrative Agent, for the account of the relevant Lenders, at the Canadian Payment Office, in Canadian Dollars or Dollars (as applicable) and in immediately
available funds. Any payment made by the Canadian Borrower or the U.S. Borrower after 12:00 Noon, Toronto time, on any Business Day shall be deemed to have been made on the next following Business Day. The Administrative Agent shall distribute such
payments to the relevant Canadian Revolving Lenders promptly upon receipt in like funds as received. If any payment hereunder (other than payments on the Eurodollar Loans and BA Loans) becomes due and payable on a day other than a Business Day, such
payment shall be extended to the next succeeding Business Day. If any payment on a Eurodollar Loan becomes due and payable on a day other than a Business Day, the maturity thereof shall be extended to the next succeeding Business Day unless the
result of such extension would be to extend such payment into another calendar month, in which event such payment shall be made on the immediately preceding Business Day. In the case of any extension of any payment of principal pursuant to the
preceding two sentences, interest thereon shall be payable at the then applicable rate during such extension. If any payment on a BA Loan becomes due and payable on a day other than a Business Day, such payment shall be made on the immediately
preceding Business Day. 
 (b) If at any time insufficient funds are received by and available to the
Administrative Agent to pay fully all amounts of principal, Reimbursement Obligations, interest and fees then due hereunder, such funds shall be applied (i) first, towards payment of interest and fees then due hereunder, ratably among the
parties entitled thereto in accordance with the amounts of interest and fees then due to such parties, and (ii) second, towards payment of principal and Reimbursement Obligations then due hereunder, ratably among the parties entitled thereto in
accordance with the amounts of principal and Reimbursement Obligations then due to such parties. 
 (c) Unless
the Administrative Agent shall have been notified in writing by any Lender prior to a borrowing that such Lender will not make the amount that would constitute its share of such borrowing available to the Administrative Agent, the Administrative
Agent may assume that such Lender is making such amount available to the Administrative Agent and the Administrative Agent may, in reliance upon such assumption, make available to the applicable Borrower a corresponding amount. If such amount is not
made available to the Administrative Agent by the required time on the Borrowing Date 

  
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therefor, such Lender shall pay to the Administrative Agent on demand, such amount with interest thereon at a rate equal to the greater of (i) the Federal Funds Effective Rate for amounts in
Dollars and the interbank offered rate quoted by the Administrative Agent for amounts in Canadian Dollars and (ii) a rate determined by the Administrative Agent or, with respect to the Canadian Revolving Loans, the Administrative Agent in
accordance with banking industry rules on interbank compensation for the period until such Lender makes such amount immediately available to the Administrative Agent. A certificate of the Administrative Agent submitted to any Lender with respect to
any amounts owing under this paragraph shall be conclusive in the absence of manifest error. If such Lender’s share of such borrowing is not made available to the Administrative Agent by such Lender within three Business Days of such Borrowing
Date, the Administrative Agent shall also be entitled to recover such amount with interest thereon at the rate per annum applicable to Base Rate Loans under the relevant Facility, on demand, from the applicable Borrower. 

(d) Unless the Administrative Agent shall have been notified in writing by any Borrower prior to the date of any payment
due to be made by any Borrower hereunder that such Borrower will not make such payment to the Administrative Agent, the Administrative Agent may assume that such Borrower is making such payment, and the Administrative Agent may, but shall not be
required to, in reliance upon such assumption, make available to the Lenders their respective pro rata shares of a corresponding amount. If such payment is not made to the Administrative Agent by the applicable Borrower within three Business Days
after such due date, the Administrative Agent shall be entitled to recover, on demand, from each Lender to which any amount which was made available pursuant to the preceding sentence, such amount with interest thereon at the rate per annum equal to
the daily average Federal Funds Effective Rate for amounts in Dollars and the interbank offered rate quoted by the Administrative Agent for amounts in Canadian Dollars. Nothing herein shall be deemed to limit the rights of the Administrative Agent
or any Lender against the Borrowers. 
 4.9. Requirements of Law. 

(a) If the adoption of or any change in any Requirement of Law or in the interpretation or application thereof or
compliance by any Lender with any request or directive (whether or not having the force of law) from any central bank or other Governmental Authority made subsequent to the date hereof: 

(i) shall subject any Lender to any tax (or any increase in tax) on its capital reserves (or any similar tax) with respect
to this Agreement, any Letter of Credit, any Application or any Loan made by it, or change the basis of taxation of payments to such Lender in respect thereof (except for Non-Excluded Taxes covered by Section 4.10 or changes in the rate of tax
on the overall net income (or, in the case of Taxes in any Canadian jurisdiction, capital) of such Lender); 

(ii) shall impose, modify or hold applicable any reserve, special deposit, compulsory loan or similar requirement against
assets held by, deposits or other liabilities in or for the account of, advances, loans or other extensions of credit by, or any other acquisition of funds by, any office of such Lender that is not otherwise included in the determination of the
Eurodollar Rate hereunder; or 
 (iii) shall impose on such Lender any other condition; 

and the result of any of the foregoing is to increase the cost to such Lender, by an amount that such Lender deems to be material, of making, converting
into, continuing or maintaining Eurodollar Loans or BA Loans (or, in the case of clause (i) above, any Loan) or issuing or participating in Letters of Credit, or to reduce any amount receivable hereunder in respect thereof, then, in any such
case, the applicable Borrower shall promptly pay such Lender, upon its demand, any additional amounts necessary to compensate such Lender for such increased cost or reduced amount receivable. If any Lender becomes entitled to claim any additional
amounts pursuant to this paragraph, it shall promptly notify Cedar Fair LP (with a copy to the Administrative Agent) of the event by reason of which it has become so entitled. 

(b) If any Lender shall have determined that the adoption of or any change in any Requirement of Law regarding capital
adequacy or in the interpretation or application thereof or compliance by 

  
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such Lender or any Person controlling such Lender with any request or directive regarding capital adequacy (whether or not having the force of law) from any Governmental Authority made subsequent
to the date hereof shall have the effect of reducing the rate of return on such Lender’s or such Person’s capital as a consequence of its obligations hereunder or under or in respect of any Letter of Credit to a level below that which such
Lender or such Person could have achieved but for such adoption, change or compliance (taking into consideration such Lender’s or such Person’s policies with respect to capital adequacy) by an amount deemed by such Lender to be material,
then from time to time, after submission by such Lender to Cedar Fair LP (with a copy to the Administrative Agent) of a written request therefor, the applicable Borrower shall pay to such Lender such additional amount or amounts as will compensate
such Lender or such Person for such reduction. 
 (c) A certificate as to any additional amounts payable pursuant
to this Section submitted by any Lender to Cedar Fair LP (with a copy to the Administrative Agent) shall be conclusive in the absence of manifest error. Notwithstanding anything to the contrary in this Section, the Borrowers shall not be required to
compensate a Lender pursuant to this Section for any incremental cost and expense directly attributable to such Lender’s failure to notify Cedar Fair LP of its claim within 6 months after such Lender becomes aware of such claim (e.g., late
penalties). The obligations of the Borrowers pursuant to this Section shall survive the termination of this Agreement and the payment of the Loans and all other amounts payable hereunder. 

4.10. Taxes. 
 (a) All payments made under the Loan Documents by any Loan Party shall, except to the extent required by applicable law, be made free and clear of, and without deduction or withholding for or on account
of, any present or future income, stamp or other taxes, levies, imposts, duties, charges, fees, deductions or withholdings (including interest, additions to tax and penalties related thereto), now or hereafter imposed, levied, collected, withheld or
assessed by any Governmental Authority (“Taxes”), excluding (i) net income taxes, capital taxes and franchise taxes (imposed in lieu of net income taxes) imposed on any Agent or any Lender (which term shall include any Issuing
Lender for purposes of this Section 4.10) as a result of a present or former connection between such Agent or such Lender and the jurisdiction of the Governmental Authority imposing such tax or any political subdivision or taxing authority
thereof or therein (other than any such connection arising solely from such Agent or such Lender having executed, delivered, enforced, become a party to, performed its obligations under, received payments under, received or perfected a security
interest under, and/or engaged in any other transaction pursuant to, any Loan Document), (ii) any Taxes that are attributable to such Lender’s failure to comply with the requirements of paragraph (e) of this Section and (iii) in
case of a Foreign Lender, that are United States federal withholding taxes (including under Sections 1471 through 1474 of the Code and any regulations or official interpretations thereof) imposed on amounts payable to such Lender pursuant to a law
in effect at the time such Lender becomes a party to this Agreement (or designates a new lending office), except to the extent that such Lender’s assignor (if any) was entitled, immediately prior to the assignment (or designation of new lending
office), to receive additional amounts from the Borrowers with respect to such Non-Excluded Taxes pursuant to this paragraph (any such non-excluded Taxes, “Non-Excluded Taxes”). If any Non-Excluded Taxes or Other Taxes are required
to be withheld or deducted from or are otherwise imposed on any amounts payable to any Agent or any Lender under any Loan Document, (i) the applicable withholding agent shall make such withholding or deduction, (ii) the applicable
withholding agent shall pay such Non-Excluded Taxes or Other Taxes to the relevant Governmental Authority and (iii) the amounts so payable to such Agent or such Lender shall be increased by the applicable Loan Party to the extent necessary to
yield to such Agent or such Lender (after all deductions or withholdings, including those attributable to the additional amounts payable under this Section 4.10) interest or any such other amounts payable hereunder at the rates or in the
amounts specified in such Loan Document. 
 (b) In addition, the Borrowers shall pay any Other Taxes to the
relevant Governmental Authority in accordance with applicable law. 
 (c) Without limiting the provisions of
subsection (a) or (b) above, each Borrower shall, jointly and severally indemnify and hold harmless the Administrative Agent and each Lender, and shall make 

  
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payment in respect thereof within 10 days after written demand therefor, for the full amount of any Non-Excluded Taxes or Other Taxes (including any amounts attributable to such Non-Excluded
Taxes or Other Taxes payable under this Section) payable by the Administrative Agent or such Lender, as the case may be, and any reasonable expenses arising therefrom or with respect thereto, whether or not such Non-Excluded Taxes or Other Taxes
were correctly or legally imposed or asserted by the relevant Governmental Authority; provided that if the applicable Borrowers reasonably believe that such Taxes were not correctly or legally asserted, each Lender will use reasonable efforts (at
the Borrowers’ expense) to cooperate with the Borrowers to obtain a refund of such taxes (which shall be repaid to the Borrowers in accordance with Section 4.10(f)) so long as such efforts would not, in the sole determination of such
Lender result in any additional costs, expenses or risks or be otherwise disadvantageous to it. A certificate as to the amount of any such payment or liability delivered to the Borrowers by a Lender (with a copy to the Administrative Agent), or by
the Administrative Agent on its own behalf or on behalf of a Lender, shall be conclusive absent manifest error. 

(d) Whenever any Taxes are payable or to be remitted with respect to any payments under the Loan Documents by any
Borrower, as promptly as possible thereafter such Borrower shall send to each of the Administrative Agent for its own account or for the account of the relevant Agent or Lender, as the case may be, a certified copy of an original official receipt
(or other documentary evidence of payment or remittance that is reasonably satisfactory to the Administrative Agent) showing payment or remittance thereof. 
 (e) Any Lender that is entitled to an exemption from or reduction of withholding tax or backup withholding tax under the law of any applicable jurisdiction with respect to payments under this Agreement
shall deliver to the applicable Borrower and the Administrative Agent at any time or times reasonably requested by such Borrower or the Administrative Agent, such properly completed and executed documentation as prescribed by applicable law or
reasonably requested by such Borrower or the Administrative Agent to permit such payments to be made without such withholding tax or backup withholding tax or at a reduced rate. 

Without limiting the generality of the foregoing, any Foreign Lender shall, to the extent it is legally entitled to do so, deliver to the
applicable Borrower and the Administrative Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender under this Agreement (and from time to time thereafter upon the
request of the applicable Borrower or the Administrative Agent, but only if such Foreign Lender is legally entitled to do so), whichever of the following is applicable: 

(i) duly completed copies of Internal Revenue Service Form W-8BEN (or any successor forms) claiming eligibility for
benefits of an income tax treaty to which the United States is a party, 
 (ii) duly completed copies of Internal
Revenue Service Form W-8ECI (or any successor forms), 
 (iii) in the case of a Foreign Lender claiming the
benefits of the exemption for portfolio interest under Section 881(c) of the Code, (x) a certificate, in substantially the form of Exhibit F-1, or any other form approved by the Administrative Agent, to the effect that such Foreign
Lender is not (A) a “bank” within the meaning of Section 881(c)(3)(A) of the Code, (B) a “10 percent shareholder” of the applicable Borrower within the meaning of Section 881(c)(3)(B) of the Code, or
(C) a “controlled foreign corporation” described in Section 881(c)(3)(C) of the Code, and that no payments in connection with the Loan Documents are effectively connected with such Foreign Lender’s conduct of a U.S. trade or
business and (y) duly completed copies of Internal Revenue Service Form W-8BEN (or any successor forms), 

(iv) to the extent a Foreign Lender is not the beneficial owner (for example, where the Foreign Lender is a partnership or
participating Lender granting a typical participation), an Internal Revenue Service Form W-8IMY, accompanied by a Form W-8ECI, W-8BEN, a certificate in substantially the form of Exhibit F-2, Exhibit F-3 or Exhibit F-4, as
applicable, Form W-9, and/or other certification documents from each beneficial owner, as applicable; provided that, if the Foreign Lender is a partnership (and not a participating Lender) and one or more partners of such Foreign Lender are
claiming the portfolio 

  
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interest exemption, such Foreign Lender may provide a certificate, in substantially the form of Exhibit F-3, on behalf of such beneficial owner(s), or (v) any other form prescribed by
applicable laws as a basis for claiming exemption from or a reduction in U.S. federal withholding tax duly completed together with such supplementary documentation as may be prescribed by applicable requirements of law to permit the applicable
Borrower and the Administrative Agent to determine the withholding or deduction required to be made, or 
 (v) in
the case of a Lender seeking an exemption from withholding tax under Section 1471 or 1472 of the Code and any regulations or official interpretations thereof, any documentation necessary to prevent such withholding. 

Any Lender that is a “United States person” (within the meaning of Section 7701(a)(30) of the Code) shall deliver to the
applicable Borrower and the Administrative Agent on or prior to the date on which such Lender becomes a Lender under this Agreement (and from time to time thereafter as prescribed by applicable law or upon the request of the applicable Borrower or
the Administrative Agent), duly executed and properly completed copies of Internal Revenue Service Form W-9 certifying that it is not subject to backup withholding. 
 Each Lender shall, from time to time after the initial delivery by Lender of the forms described above, whenever a lapse in time or change in such Lender’s circumstances renders such forms,
certificates or other evidence so delivered obsolete, expired or inaccurate, promptly (1) deliver to the applicable Borrower and the Administrative Agent (in such number of copies as shall be requested by the recipient) renewals, amendments or
additional or successor forms, properly completed and duly executed by such Lender, together with any other certificate or statement of exemption required in order to confirm or establish such Foreign Lender’s status or that such Lender is
entitled to an exemption from or reduction in withholding tax or backup withholding tax or (2) notify Administrative Agent and the applicable Borrower of its inability to deliver any such forms, certificates or other evidence. 

(f) If any Agent or any Lender determines, in its sole discretion, that it has received a refund of any Non-Excluded Taxes
or Other Taxes as to which it has been indemnified by the Borrowers or with respect to which the Borrowers have paid additional amounts pursuant to this Section 4.10, it shall pay over such refund to the Borrowers, or either of them (but only
to the extent of indemnity payments made, or additional amounts paid, by the Borrowers under this Section 4.10 with respect to the Non-Excluded Taxes or Other Taxes giving rise to such refund), net of all out of pocket expenses of such Agent or
such Lender (including any Taxes) and without interest (other than any interest paid by the relevant Governmental Authority with respect to such refund); provided, that the Borrowers, upon the request of such Agent or such Lender, agree to
repay the amount paid over to the Borrowers (plus any penalties, interest or other charges imposed by the relevant Governmental Authority) to such Agent or such Lender in the event such Agent or such Lender is required to repay such refund to such
Governmental Authority. This paragraph shall not be construed to require any Agent or any Lender to make available its tax returns (or any other information relating to its taxes that it deems confidential) to the Borrowers or any other Person.

 (g) The agreements in this Section shall survive any assignment of rights by, or the replacement of, a Lender,
the termination of the Commitments and the repayment, satisfaction or discharge of all other Obligations. 
 (h)
For the avoidance of doubt, any payments made by the Administrative Agent to a Lender shall be treated as payments made by the applicable Loan Party. 
 4.11. Break Funding Payments. In the event of (a) the payment of any principal of any Eurodollar Loan other than on the last day of an Interest Period applicable thereto (including as a result
of an Event of Default), (b) the failure to borrow, convert, continue or prepay any Eurodollar Loan on the date specified in any notice delivered pursuant hereto or (c) the assignment of any Eurodollar Loan other than on the last day of
the Interest Period applicable thereto as a result of a request by a Borrower pursuant to Section 4.13, then, in any such event, the Borrowers shall compensate each Lender for the loss, cost and expense actually incurred by such Lender as a
consequence of such event; provided that such loss, cost or expense shall be determined assuming that each Lender funded its loan by the last day of an Interest Period. In the case of a Eurodollar Loan, such loss, cost or expense to any
Lender shall 

  
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be deemed to be the amount determined by such Lender (it being understood that the deemed amount shall not exceed the actual amount) to be the excess, if any, of (i) the amount of interest
which would have accrued on the principal amount of such Loan had such event not occurred, at the Eurodollar Rate that would have been applicable to such Loan, for the period from the date of such event to the last day of the then current Interest
Period therefor (or, in the case of a failure to borrow, convert or continue a Eurodollar Loan, for the period that would have been the Interest Period for such Loan), disregarding any “LIBOR floor” for the purpose of determining such
amount, over (ii) the amount of interest which would accrue on such principal amount for such period at the interest rate which such Lender would bid were it to bid, at the commencement of such period, for deposits in dollars of a comparable
amount and period from other banks in the Eurodollar market. A certificate of any Lender setting forth any amount or amounts that such Lender is entitled to receive pursuant to this Section shall be delivered to the Borrowers and shall be conclusive
absent manifest error. The Borrowers shall pay such Lender the amount shown as due on any such certificate within 10 days after receipt thereof. 
 4.12. Change of Lending Office. Each Lender agrees that, upon the occurrence of any event giving rise to the operation of Section 4.9 or 4.10(a) or (c) with respect to such Lender, it
will, if requested by Cedar Fair LP, use reasonable efforts (subject to overall policy considerations of such Lender) to designate another lending office for any Loans affected by such event with the object of avoiding the consequences of such
event; provided, that such designation is made on terms that, in the sole judgment of such Lender, cause such Lender and its lending office(s) to suffer no economic, legal or regulatory disadvantage, and provided, further, that nothing in
this Section shall affect or postpone any of the obligations of the Borrowers or the rights of any Lender pursuant to Section 4.9 or 4.10(a) or (c). 
 4.13. Replacement of Lenders. The Borrowers shall be permitted to replace any Lender that (a) requests reimbursement for amounts owing pursuant to Section 4.9 or 4.10(a) or (c) or
(b) defaults in its obligation to make Loans hereunder, with a replacement financial institution; provided that (i) such replacement does not conflict with any Requirement of Law, (ii) no Event of Default shall have occurred
and be continuing at the time of such replacement, (iii) prior to any such replacement, such Lender shall have taken no action under Section 4.12 so as to eliminate the continued need for payment of amounts owing pursuant to
Section 4.9 or 4.10(a) or (c), (iv) such replacement will eliminate or reduce future payments to be made under Section 4.10(a) or (c), as applicable, (v) the replacement financial institution shall purchase, at par, all Loans and
other amounts owing to such replaced Lender on or prior to the date of replacement, (vi) the applicable Borrower shall be liable to such replaced Lender under Section 4.11 if any Eurodollar Loan owing to such replaced Lender shall be
purchased other than on the last day of the Interest Period relating thereto, (vii) the replacement financial institution, if not already a Lender, shall be reasonably satisfactory to the Administrative Agent, (viii) the replaced Lender
shall be obligated to make such replacement in accordance with the provisions of Section 11.6 (provided that the applicable Borrower shall be obligated to pay the registration and processing fee referred to therein), (ix) until such time
as such replacement shall be consummated, the applicable Borrower shall pay all additional amounts (if any) required pursuant to Section 4.9 or 4.10(a) or (c), as the case may be, and (x) any such replacement shall not be deemed to be a
waiver of any rights that the Borrowers, the Administrative Agent or any other Lender shall have against the replaced Lender. 

4.14. Evidence of Debt. 
 (a) Each Lender shall maintain in accordance with its usual practice an account or accounts evidencing Indebtedness of the Borrowers to such Lender resulting from each Loan of 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. 
 (b) The Administrative Agent, on behalf of the Borrowers, shall maintain the Register pursuant to Section 11.6(b), and a sub account therein for each Lender, in which shall be recorded (i) the
amount of each Loan made hereunder and any Note evidencing such Loan, the Type of such Loan and each Interest Period applicable thereto, (ii) the amount of any principal or interest due and payable or to become due and payable from each
Borrower to each Lender hereunder and (iii) both the amount of any sum received by the Administrative Agent hereunder from each Borrower and each Lender’s share thereof. 

  
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 (c) The entries made in the Register and the accounts of each Lender
maintained pursuant to Section 4.14(a) shall, to the extent permitted by applicable law, be prima facie evidence of the existence and amounts of the obligations of any Borrower therein recorded; provided, however, that the
failure of any Lender or the Administrative Agent to maintain the Register or any such account, or any error therein, shall not in any manner affect the obligation of any Borrower to repay (with applicable interest) the Loans made to such Borrower
by such Lender in accordance with the terms of this Agreement. 
 (d) Each Borrower agrees that, upon the request
to the Administrative Agent by any Lender, such Borrower will promptly execute and deliver to such Lender a promissory note of such Borrower, evidencing any U.S. Term-1 Loans, Refinancing Term Loans of any Series and/or Extended Term Loans of any
Extended Series of such Term Lender, substantially in the form of Exhibit G-1 (a “Term Note”), any U.S. Revolving Loans and/or any Replacement Revolving Loans under any Replacement Revolving Facility of such U.S. Revolving Lender,
substantially in the form of Exhibit G-2 (a “U.S. Revolving Note”), or Canadian Revolving Loans and/or Replacement Revolving Loans under any Replacement Revolving Facility of such Canadian Revolving Lender, substantially in the form
of Exhibit G-3 (a “Canadian Revolving Note”; each Term Note, U.S. Revolving Note or Canadian Revolving Note, individually, a “Note”). 
 4.15. Illegality. Notwithstanding any other provision herein, if the adoption of or any change in any Requirement of Law or in the interpretation or application thereof shall make it unlawful for
any Lender to make or maintain Eurodollar Loans or BA Loans as contemplated by this Agreement, (a) the commitment of such Lender hereunder to make (i) Eurodollar Loans, continue Eurodollar Loans as such and convert Base Rate Loans to
Eurodollar Loans or (ii) BA Loans, continue BA Loans as such and convert Canadian Prime Rate Loans to BA Loans shall forthwith be canceled and (b) such Lender’s Loans then outstanding as Eurodollar Loans or BA Loans, as the case may
be, if any, shall be converted automatically to Base Rate Loans or Canadian Prime Rate Loans, respectively, on the respective last days of the then current Interest Periods with respect to such Loans or within such earlier period as required by law.
If any such conversion of a Eurodollar Loan occurs on a day which is not the last day of the then current Interest Period with respect thereto, the Borrowers shall pay to such Lender such amounts, if any, as may be required pursuant to
Section 4.11. 
 4.16. Defaulting Lenders. Notwithstanding any provision of this Agreement to the contrary, if any
Revolving Lender becomes a Defaulting Lender, then the following provisions shall apply for so long as such Revolving Lender is a Defaulting Lender: 
 (a) fees shall cease to accrue on the unfunded portion of the Revolving Commitment of such Defaulting Lender pursuant to Section 3.5(a); 

(b) the Revolving Commitment and Revolving Extensions of Credit of such Defaulting Lender shall not be included in
determining whether the Required Lenders, the Majority Facility Lenders or other requisite Lenders have taken or may take any action hereunder, including any consent to any amendment, waiver or other modification pursuant to Section 11.1,
except as provided in the last sentence of Section 11.1; 
 (c) if any Swing Line Loans or L/C Obligations
are outstanding under a Revolving Credit Facility at the time a Lender becomes a Defaulting Lender under such Revolving Credit Facility then: 
  

	 	(i)	all or any part of such Swing Line Loans and L/C Obligations shall be reallocated among the non-Defaulting Lenders in accordance with their respective Revolving Credit
Percentages under such Revolving Credit Facility but only to the extent (x) the sum of all non-Defaulting Lenders’ Revolving Extensions of Credit under such Revolving Credit Facility plus such Defaulting Lender’s pro rata share of
such Swing Line Loans and L/C Obligations does not exceed the total of all non-Defaulting Lenders’ Revolving Commitments under such Revolving Credit Facility and (y) the conditions set forth in Section 6.2 are satisfied at such time;
and 

  
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	 	(ii)	if the reallocation described in clause (i) above cannot, or can only partially, be effected, the U.S. Borrower and the Canadian Borrower shall within one Business
Day following notice by the Administrative Agent (x) first, prepay such Swing Line Loans and (y) second, cash collateralize such Defaulting Lender’s Revolving Credit Percentage of such L/C Obligations (after giving effect to any
partial reallocation pursuant to clause (i) above) in accordance with the procedures satisfactory to the applicable Issuing Lender for so long as such L/C Obligations are outstanding and such Lender is a Defaulting Lender;

  

	 	(iii)	if the U.S. Borrower and the Canadian Borrower cash collateralize any portion of such Defaulting Lender’s Revolving Credit Percentage of the L/C Obligations
pursuant to Section 4.16(c)(ii), the applicable Borrower shall not be required to pay any fees to such Defaulting Lender pursuant to Section 3.9(a) with respect to such Defaulting Lender’s Revolving Credit Percentage of the L/C
Obligations during the period such Defaulting Lender’s Revolving Credit Percentage of the L/C Obligations is cash collateralized; 

  

	 	(iv)	if the participations in L/C Obligations of the non-Defaulting Lenders is reallocated pursuant to Section 4.16(c)(i), then the fees payable to the Lenders pursuant
to Section 3.9(a) shall be adjusted in accordance with such non-Defaulting Lenders’ Revolving Credit Percentages in such L/C Obligations; or 

  

	 	(v)	if all or any portion of such Defaulting Lender’s Revolving Credit Percentage of the L/C Obligations is neither cash collateralized nor reallocated pursuant to
Section 4.16(c)(i) or (ii) above, then, without prejudice to any rights or remedies of the Issuing Lender or any Lender hereunder, all letter of credit fees payable under Section 3.9(a) with respect to such Defaulting Lender’s
Revolving Credit Percentage of the L/C Obligations shall be payable to the applicable Issuing Lender until and to the extent such portion of the L/C Obligations are cash collateralized and/or reallocated as provided above; 

(c) so long as any Lender is a Defaulting Lender, no Swing Line Lender shall be required to fund any Swing Line Loan and
no Issuing Lender shall be required to issue, amend or increase any Letter of Credit, unless it is satisfied that the related exposure will be 100% covered by the Revolving Commitments of the non-Defaulting Lenders under the applicable Revolving
Credit Facility and/or cash collateral will be provided by the applicable Borrower in accordance with Section 4.16(c), and participating interests in any such newly issued or increased Letter of Credit or newly made Swing Line Loan shall be
allocated among non-Defaulting Lenders in a manner consistent with Section 4.16(c)(i) (and Defaulting Lenders shall not participate therein); 
 (d) any amount payable to such Defaulting Lender hereunder (whether on account of principal, interest, fees or otherwise), in lieu of being distributed to such Defaulting Lender, received by the
Administrative Agent (A) may, at the Administrative Agent’s option, be applied for the account of such Defaulting Lender for the benefit of the Administrative Agent, the Swing Line Lender or the Issuing Lender to satisfy such Lender’s
obligations to it under such Section until all such unsatisfied obligations are fully paid and/or (B) may be retained by the Administrative Agent in its discretion and notwithstanding any contrary provision hereof, in a segregated account as
cash collateral for and, subject to any applicable requirements of law, be applied at such time or times as may be determined by the Administrative Agent, in the case of each of clauses (A) and (B) above, in any order, in its discretion;
and 
 (e) during any period in which a Lender is a Defaulting Lender, the U.S. Borrower or the Canadian Borrower
may (in its discretion) apply all or any portion to be specified by such Borrower of any optional reduction of unused Revolving Commitments under Section 3.6 to the unused Commitments of any one or more Defaulting Lenders specified by such
Borrower before applying any remaining reduction to all Lenders in the manner otherwise specified in Section 3.6. 
 If
(i) a Bankruptcy Event with respect to a Parent of any Lender shall occur following the date hereof and for so long as such event shall continue or (ii) the applicable Swing Line Lender or the applicable Issuing Lender

  
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has a good faith belief that any Lender has defaulted in fulfilling its obligations under one or more other agreements in which such Lender commits to extend credit, such Swing Line Lender shall
not be required to fund any Swing Line Loan and such Issuing Lender shall not be required to issue, amend or increase any Letter of Credit, unless the Swing Line Lender or the Issuing Lender, as the case may be, shall have entered into arrangements
with such Borrower or such Lender, satisfactory to such Swing Line Lender or such Issuing Lender, as the case may be, to defease any risk to it in respect of such Lender hereunder (it being understood that the Borrowers shall have the option to
reallocate the participation of the applicable Lender as provided above with respect to Defaulting Lenders if the Issuing Lender or Swing Line Lenders require any such arrangements to eliminate their risk). 

In the event that the Administrative Agent, the U.S. Borrower, the Canadian Borrower, each Issuing Lender and each Swing Line Lender
agrees that a Defaulting Lender has adequately remedied all matters that caused such Lender to be a Defaulting Lender, then the participations in Swing Line Loans and L/C Obligations of the Revolving Lenders shall be readjusted to reflect the
inclusion of such Lender’s Revolving Commitments and on such date such Lender shall purchase at par such of the Revolving Loans of the other Lenders under the applicable Revolving Credit Facility as the Administrative Agent shall determine may
be necessary in order for such Lender to hold such Revolving Loans in accordance with its Revolving Credit Percentage. 
 4.17.
Soft-Call Premium. 
 (a) On the Amendment No. 1 Effective Date, the Borrowers shall pay to the Administrative Agent,
for the account of each Lender with a U.S. Term Loan immediately prior to the conversion of Converted U.S. Term Loans and the borrowing under the Additional U.S. Term-1 Commitment pursuant to Section 2.1(b), a fee equal to 1.0% of the principal
amount of such Lender’s outstanding U.S. Term Loans at such time (which payment shall satisfy in full the Borrowers’ obligations under Section 4.17 of this Agreement (prior to giving effect to Amendment No. 1)). 

(b) In the event that, at any time on or prior to August 25, 2011, (i) this Agreement is amended and such amendment to this
Agreement has the effect of reducing the interest rate applicable to the U.S. Term-1 Loans (other than any waiver of default interest) or (ii) the Borrowers make any mandatory or voluntary prepayment of U.S. Term-1 Loans with the proceeds of
any term loan Indebtedness under any credit facility (including, without limitation, any new or additional term loans under this Agreement) which term indebtedness has a lower Yield than the Yield of the U.S. Term-1 Loans, then, the Borrowers agree
to pay to the Administrative Agent, (x) in the case of clause (i), for the account of each U.S. Term-1 Lender that agrees to such amendment (or that is removed pursuant to the last paragraph of Section 11.1) a fee in an amount equal to
1.00% of such Lender’s U.S. Term-1 Loans outstanding on the effective date of such amendment and (y) in the case of clause (ii), for the account of each U.S. Term-1 Lender a fee in an amount equal to 1.00% of such Lender’s U.S. Term-1
Loans that are being prepaid as a result of such prepayment. 
 SECTION 5. REPRESENTATIONS AND WARRANTIES 

To induce the Agents and the Lenders to enter into this Agreement and to make the Loans and issue or participate in the Letters of
Credit, each Borrower hereby represents and warrants to each Agent and each Lender that: 
 5.1. Financial Condition. The
audited consolidated balance sheets of Cedar Fair LP and its Subsidiaries as at December 31, 2007, December 31, 2008 and December 31, 2009, and the related consolidated statements of income and of cash flows for the fiscal years
ended on such dates, reported on by and accompanied by an unqualified report from Deloitte and Touche LLP, present fairly the consolidated financial condition of Cedar Fair LP and its Subsidiaries as at such date, and the consolidated results of its
operations and its consolidated cash flows for the respective fiscal years then ended. The unaudited consolidated balance sheet of Cedar Fair LP and its Subsidiaries as at the last day of Fiscal Q1 2010, and the related unaudited consolidated
statements of income and cash flows for the three month period ended on such date, present fairly the consolidated financial condition of Cedar Fair LP and its Subsidiaries as at such date, and the consolidated results of its operations and its
consolidated cash flows for the three month period then ended (subject to normal year end audit adjustments). All such financial statements of Cedar Fair LP and its Subsidiaries, including the related schedules and notes thereto, have been prepared
in accordance with GAAP applied consistently throughout the periods involved (except as approved by the aforementioned firm of accountants and disclosed therein). No Group Member has any material Guarantee Obligations, contingent liabilities

  
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and liabilities for taxes, or any long term leases or unusual forward or long term commitments, including any interest rate or foreign currency swap or exchange transaction or other obligation in
respect of derivatives that are not reflected in the most recent financial statements referred to in this paragraph, other than the Specified Hedge Agreements with KeyBank National Association described in the definition of “Specified Hedge
Agreement” and any other Specified Hedge Agreement entered into in accordance with the terms hereof. During the period from December 31, 2009 to and including the date hereof there has been no Disposition by any Borrower or any of its
Subsidiaries of any material part of its business or property. 
 5.2. No Change. Since December 31, 2009, there has
been no development or event that has had or could reasonably be expected to have a Material Adverse Effect. 
 5.3.
Corporate Existence; Compliance with Law. Each Group Member (a) is duly organized, validly existing and in good standing under the laws of the jurisdiction of its organization, (b) has the power and authority, and the legal right,
to own and operate its property, to lease the property it operates as lessee and to conduct the business in which it is currently engaged, (c) is duly qualified as a foreign corporation (or otherwise qualified as required by any applicable
Requirement of Law) and in good standing under the laws of each jurisdiction where its ownership, lease or operation of property or the conduct of its business requires such qualification, except to the extent that the failure to comply therewith
could not, in the aggregate, reasonably be expected to have a Material Adverse Effect and (d) is in compliance with all Requirements of Law, except to the extent that the failure to comply therewith could not, in the aggregate, reasonably be
expected to have a Material Adverse Effect. 
 5.4. Power; Authorization; Enforceable Obligations. Each Loan Party has
the power and authority, and the legal right, to make, deliver and perform the Loan Documents to which it is a party and, in the case of the Borrowers, to obtain extensions of credit hereunder. Each Loan Party has taken all necessary organizational
action to authorize the execution, delivery and performance of the Loan Documents to which it is a party and, in the case of the Borrowers, to authorize the extensions of credit on the terms and conditions of this Agreement. No consent or
authorization of, filing with, notice to or other act by or in respect of, any Governmental Authority or any other Person is required in connection with the Refinancing and the extensions of credit hereunder or with the execution, delivery,
performance, validity or enforceability of this Agreement or any of the Loan Documents, except (i) consents, authorizations, filings and notices described in Schedule 5.4, which consents, authorizations, filings and notices have been obtained
or made and are in full force and effect and (ii) the filings referred to in Section 5.19. Each Loan Document has been duly executed and delivered on behalf of each Loan Party party thereto. This Agreement constitutes, and each other Loan
Document upon execution will constitute, a legal, valid and binding obligation of each Loan Party party thereto, enforceable against each such Loan Party in accordance with its terms, except as enforceability may be limited by applicable bankruptcy,
insolvency, reorganization, moratorium or similar laws affecting the enforcement of creditors’ rights generally and by general equitable principles (whether enforcement is sought by proceedings in equity or at law). 

5.5. No Legal Bar. The execution, delivery and performance of this Agreement and the other Loan Documents, the issuance of Letters
of Credit, the borrowings hereunder and the use of the proceeds thereof will not violate any Requirement of Law or any Contractual Obligation of any Group Member and will not result in, or require, the creation or imposition of any Lien on any of
their respective properties or revenues pursuant to any Requirement of Law or any such Contractual Obligation (other than the Liens created by the Security Documents). No Requirement of Law or Contractual Obligation applicable to any Borrower or any
of its Subsidiaries could reasonably be expected to have a Material Adverse Effect. 
 5.6. Litigation. No litigation,
investigation or proceeding of or before any arbitrator or Governmental Authority is pending or, to the knowledge of any Borrower, threatened by or against any Group Member or against any of their respective properties or revenues (a) with
respect to any of the Loan Documents or any of the transactions contemplated hereby or thereby, or (b) that could reasonably be expected to have a Material Adverse Effect. 

5.7. No Default. No Group Member is in default under or with respect to any of its Contractual Obligations in any respect that
could reasonably be expected to have a Material Adverse Effect. No Default or Event of Default has occurred and is continuing. 

  
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 5.8. Ownership of Property; Liens. Each Group Member has title in fee simple to, or a
valid leasehold interest in, all its real property, and good title to, or a valid leasehold interest in, all its other property, including without limitation, the tangible and intangible personal property reflected as assets in their respective
books and records free and clear of all Liens except for minor defects in title that do not materially interfere with its ability to conduct its business or to utilize such assets for their intended purposes and Liens permitted by Section 8.3
and except where the failure to have such title could not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect 
 5.9. Intellectual Property. Except to the extent the same would not reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect, (a) each Group Member owns, has
the right to use or can acquire on reasonable terms adequate rights to use, all Intellectual Property reasonably necessary for the conduct of its business as currently conducted; (b) no Group Member has knowledge of any claim that has been
asserted or is pending before any tribunal by any Person challenging or questioning the use of any Intellectual Property or the validity or effectiveness of any Intellectual Property, nor does any Borrower know of any valid basis for any such claim;
and (c) to the knowledge of the Group Members, the use of Intellectual Property by each Group Member does not infringe misappropriate, dilute, or otherwise violate the rights of any Person. 

5.10. Taxes. Each Group Member has filed or caused to be filed all material Tax returns that are required to be filed within the
time periods required by applicable law and has paid all material Taxes whether or not shown on such Tax return (other than any Taxes the amounts or validity of which are currently being contested in good faith by appropriate proceedings and with
respect to which reserves in conformity with GAAP have been provided on the books of the applicable Group Member), no Tax Lien has been filed, and no claim (other than those being contested as aforesaid) is being asserted, with respect to any such
Tax. Cedar Fair LP has been treated since its inception as an electing 1987 partnership within the meaning of Section 7704(g)(3) of the Code and not as an association taxable as a corporation under subchapter C of the Code. Each Group Member
has withheld or collected, and remitted to the appropriate Governmental Authority when due, all taxes it is required to withhold or collect and remit within the time periods required by applicable law, except where the failure to do so could not
reasonably be expected to, individually or in the aggregate, have a Material Adverse Effect. There are no proposed Tax assessments, deficiencies, claims or audits against any Group Member that could be reasonably expected to, individually or in the
aggregate, result in a Material Adverse Effect. 
 5.11. Federal Regulations. No part of the proceeds of any Loans, and
no other extensions of credit hereunder, will be used for “buying” or “carrying” any “margin stock” within the respective meanings of each of the quoted terms under Regulation U as now and from time to time hereafter in
effect or for any purpose that violates the provisions of the Regulations of the Board. If requested by any Lender or the Administrative Agent, the Borrowers will furnish to the Administrative Agent and each Lender a statement to the foregoing
effect in conformity with the requirements of FR Form G-3 or FR Form U-1, as applicable, referred to in Regulation U. 
 5.12.
Labor Matters. Except as, in the aggregate, could not reasonably be expected to have a Material Adverse Effect: (a) there are no strikes or other labor disputes against any Group Member pending or, to the knowledge of any Borrower,
threatened; (b) hours worked by and payment made to employees of each Group Member have not been in violation of the Fair Labor Standards Act or any other applicable Requirement of Law dealing with such matters; and (c) all payments due
from any Group Member on account of employee health and welfare insurance have been paid or accrued as a liability on the books of the relevant Group Member. 
 5.13. Pension and Benefit Plans. 
 (a) Neither a Reportable
Event nor an “accumulated funding deficiency” (within the meaning of Section 412 of the Code or Section 302 of ERISA) has occurred during the five year period prior to the date on which this representation is made or deemed made
with respect to any Plan, and each Plan has complied in all material respects with the applicable provisions of ERISA and the Code. No termination of a Single Employer Plan has occurred, and no Lien in favor of the PBGC or a Plan has arisen, during
such five year period. No Borrower or any Commonly Controlled Entity has had a complete or partial withdrawal from any Multiemployer Plan, and neither any Borrower nor any Commonly Controlled Entity would become subject to any liability under ERISA
that would exceed $5,000,000 if any Borrower or any such Commonly Controlled Entity were to withdraw completely from all Multiemployer Plans as of 

  
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the valuation date most closely preceding the date on which this representation is made or deemed made. No such Multiemployer Plan is in Reorganization or Insolvent. 

(b) The Canadian Pension Plans are duly registered under the Income Tax Act (Canada) and any other Requirement of
Law which to the knowledge of the Borrowers requires registration and no event has occurred which is reasonably likely to cause the loss of such registered status. All material obligations, if any, of each Group Member required to be performed
pursuant to a Requirement of Law in connection with the Canadian Pension Plans and the funding agreements therefor have been performed in a timely fashion. There have been no improper withdrawals or applications of the assets of the Canadian Pension
Plans or the Canadian Benefit Plans. Except as would not reasonably be expected to result in a Material Adverse Effect, (i) there are no outstanding disputes concerning the assets held under the funding agreements for the Canadian Pension Plans
or the Canadian Benefit Plans and (ii) each Canadian Pension Plan is funded to the extent required by law both on an ongoing basis and on a solvency basis (using actuarial methods and assumptions which are consistent with the valuations last
filed with the applicable Governmental Authorities and which are consistent with generally accepted actuarial principles). No promises of benefit improvements under the Canadian Pension Plans or the Canadian Benefit Plans have been made except where
such improvement could not reasonably be expected to have a Material Adverse Effect. All contributions or premiums required to be made or paid by each Group Member, if any, to the Canadian Pension Plans or the Canadian Benefit Plans have been made
or paid in a timely fashion in accordance with the terms of such plans and all Requirements of Law, other than any such contributions and premiums in an aggregate amount not greater than C$1,000,000. All employee contributions to the Canadian
Pension Plans or the Canadian Benefit Plans by way of authorized payroll deduction or otherwise have been properly withheld or collected and fully paid into such plans in a timely manner, other than any such withholdings, collections or payments in
an aggregate amount not greater than C$1,000,000. All material reports and disclosures relating to the Canadian Pension Plans required by such plans and any Requirement of Law to be filed or distributed have been filed or distributed in a timely
manner. Each Group Member has withheld all employee withholdings and has made all employer contributions to be withheld and made by it pursuant to applicable law on account of Canadian Pension Plans, employment insurance and employee income taxes,
other than any such contributions and withholdings in an aggregate amount not greater than C$1,000,000. 
 5.14. Investment
Company Act; Other Regulations. No Loan Party is an “investment company”, or a company “controlled” by an “investment company”, within the meaning of the Investment Company Act of 1940, as amended. No Loan Party is
subject to regulation under any Requirement of Law (other than Regulation X of the Board) that limits its ability to incur Indebtedness. 
 5.15. Subsidiaries. As of the Closing Date, (a) Schedule 5.15 sets forth the name and jurisdiction of incorporation of each Subsidiary and, as to each such Subsidiary, the percentage of each
class of Capital Stock owned by any Loan Party and (b) there are no outstanding subscriptions, options, warrants, calls, rights or other agreements or commitments (other than stock options granted to employees or directors and directors’
qualifying shares) of any nature relating to any Capital Stock of any Subsidiary of Cedar Fair LP, except as created by the Loan Documents. 
 5.16. Use of Proceeds. The proceeds of the U.S. Term Loans shall be used on the Closing Date, together with the proceeds of the Senior Notes, to repay in full all amounts under, and terminate, the
Existing Credit Agreement and to pay related fees and expenses in connection with the Refinancing. The proceeds of the Revolving Loans shall be used, together with the proceeds of the Swing Line Loans, and the Letters of Credit, for general
corporate purposes. 
 5.17. Environmental Matters. Except as, in the aggregate, could not reasonably be expected to have
a Material Adverse Effect: 
 (a) the facilities and properties owned, leased or operated by any Group Member
(the “Properties”) do not contain, and have not previously contained, any Materials of Environmental Concern in amounts or concentrations or under circumstances that constitute or constituted a violation of, or could give rise to
liability under, any Environmental Law; 

  
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 (b) no Group Member has received or is aware of any notice of violation,
alleged violation, non-compliance, liability or potential liability regarding environmental matters or compliance with Environmental Laws with regard to any of the Properties or the business operated by any Group Member (the
“Business”), nor does any Borrower have knowledge or reason to believe that any such notice will be received or is being threatened; 
 (c) Materials of Environmental Concern have not been transported or disposed of from the Properties in violation of, or in a manner or to a location that could give rise to liability under, any
Environmental Law, nor have any Materials of Environmental Concern been generated, treated, stored or disposed of at, on or under any of the Properties in violation of, or in a manner that could give rise to liability under, any applicable
Environmental Law; 
 (d) no judicial proceeding or governmental or administrative action is pending or, to the
knowledge of any Borrower, threatened, under any Environmental Law to which any Group Member is or will be named as a party with respect to the Properties or the Business, nor are there any consent decrees or other decrees, consent orders,
administrative orders or other orders, or other administrative or judicial requirements outstanding under any Environmental Law with respect to the Properties or the Business; 

(e) there has been no release or threat of release of Materials of Environmental Concern at or from the Properties, or
arising from or related to the operations of any Group Member in connection with the Properties or otherwise in connection with the Business, in violation of or in amounts or in a manner that could give rise to liability under Environmental Laws;

 (f) the Properties and all operations at the Properties are in compliance, and have in the last five years
been in compliance, with all applicable Environmental Laws, and there is no contamination at, under or about the Properties or violation of any Environmental Law with respect to the Properties or the Business; and 

(g) no Group Member has assumed any liability of any other Person under Environmental Laws. 

5.18. Accuracy of Information, etc. No statement or information contained in this Agreement, any other Loan Document, the
Confidential Information Memorandum, the Lender Presentation or any other document, certificate or statement furnished by or on behalf of any Loan Party to any Agent or the Lenders, or any of them, for use in connection with the transactions
contemplated by this Agreement or the other Loan Documents, contained as of the date such statement, information, document or certificate was so furnished, any untrue statement of a material fact or omitted to state a material fact necessary to make
the statements contained herein or therein not misleading. The projections and pro forma financial information contained in the materials referenced above are based upon good faith estimates and assumptions believed by management of Cedar Fair LP to
be reasonable at the time made, it being recognized by the Lenders that such financial information as it relates to future events is not to be viewed as fact and that actual results during the period or periods covered by such financial information
may differ from the projected results set forth therein by a material amount. There is no fact known to any Loan Party that could reasonably be expected to have a Material Adverse Effect that has not been expressly disclosed herein, in the other
Loan Documents, in the Confidential Information Memorandum, the Lender Presentation or in any other documents, certificates and statements furnished to any Agent and the Lenders for use in connection with the transactions contemplated hereby and by
the other Loan Documents. 
 5.19. Security Documents. 

(a) Each Security Document (other than the Mortgages) is effective to create in favor of the Collateral Agent for the
benefit of the Secured Parties specified therein, a legal, valid and enforceable security interest and Lien in the Collateral described therein and proceeds thereof. In the case of the Pledged Stock, as defined and described in the Guarantee and
Collateral Agreement, when stock certificates representing such Pledged Stock are delivered to the Collateral Agent, and in the case of the other Collateral described in the Security Documents, when financing statements and other filings specified
on Schedule 5.19(a) in appropriate form are filed in the offices specified on Schedule 5.19(a), the Guarantee 

  
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and Collateral Agreement and the other Security Documents shall create a fully perfected Lien on, and security interest in, all right, title and interest of the Loan Parties party thereto in such
Collateral and the proceeds thereof, as security for the Obligations referred to therein, in each case prior and superior in right to any other Person (except, in the case of Collateral other than Pledged Stock (which may be subject to Liens for
certain Statutory Prior Claims), Liens permitted by Section 8.3). As of the Closing Date, there are no Statutory Prior Claims that encumber any Pledged Stock except for certain inchoate Canadian Statutory Prior Claims in respect of amounts not
yet past due that could affect the Capital Stock of the Canadian Borrower. 
 (b) Each of the Mortgages executed
and delivered after the Closing Date will be effective to create in favor of the Collateral Agent, for the benefit of the Secured Parties specified therein, a legal, valid and enforceable Lien on the Mortgaged Properties described therein and
proceeds thereof, and when the Mortgages are filed or registered in the offices specified on Schedule 5.19(b), each such Mortgage shall create a fully perfected Lien on, and security interest in, all right, title and interest of the Loan Parties in
the Mortgaged Properties and the proceeds thereof described in each of the Mortgages, as security for the Obligations (as defined in the relevant Mortgage), in each case prior and superior in right to any other Person, except for Liens permitted by
Section 8.3. Schedule 1.1 lists, as of the Closing Date, each site of owned real property and each leasehold interest in real property held by Cedar Fair LP or any of its Subsidiaries. 

5.20. Solvency. As of the Closing Date, and after giving effect to the incurrence of all Indebtedness and obligations being
incurred on the Closing Date in connection herewith the Loan Parties on a consolidated basis are Solvent. 
 5.21. Regulation
H. Except as disclosed to the Administrative Agent by Cedar Fair LP, no Mortgage encumbers improved real property that is located in an area that has been identified by the Secretary of Housing and Urban Development as an area having special
flood hazards and in which flood insurance has been made available under the National Flood Insurance Act of 1968. 
 5.22.
Condition of the Property. Except to the extent the same could not reasonably be expected to have a Material Adverse Effect, (i) the buildings, structures and improvements on the Mortgaged Properties are in good repair and free of
material defects, ordinary wear and tear excepted, (ii) and except as set forth in any engineering reports with respect to the Mortgaged Properties delivered to the Administrative Agent in connection with this Agreement, and except for
malfunctions consistent with the past practices of Cedar Fair LP and its Subsidiaries, all major building systems located within such buildings, structures and improvements (including, without limitation, the heating and air conditioning systems,
the electrical systems, plumbing systems, and all liquid and solid waste disposal, septic and sewer systems) are in good working order and condition or in the process of repair or replacement and (iii) to the knowledge of each Borrower, the
Mortgaged Property is in compliance in all material respects with all Requirements of Law and the Mortgaged Property is free from material damage caused by fire or other casualty that is not in the process of repair or restoration. 

5.23. No Condemnation. No Group Member has received written notice that a condemnation or expropriation proceeding has been
commenced and to each Borrower’s knowledge, none is contemplated with respect to all or any portion of the Mortgaged Property or for the relocation of roadways providing access to any Mortgaged Property that, in any of the foregoing cases,
could reasonably be expected to cause a Material Adverse Effect. 
 5.24. Operating Permits. Except to the extent the
same could not reasonably be expected to have a Material Adverse Effect, the Group Members have obtained all licenses, permits, registrations, certificates and other approvals, governmental and otherwise (including, without limitation, zoning,
building code, land use and environmental), reasonably necessary for the use, occupancy and operation of the Mortgaged Property and the conduct of its business thereat, all of which are in full force and effect as of the date hereof in all material
respects. To each Borrower’s knowledge, no event or condition currently exists which could result in the revocation, suspension, or forfeiture thereof which could reasonably be expected to cause a Material Adverse Effect. 

5.25. Public Access. Except to the extent the same could not reasonably be expected to have a Material Adverse Effect, all public
roads and streets necessary for access to each Mortgaged Property for the current use thereof 

  
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have been completed and are open for use by the public, except in the case of repairs or replacements from time to time made to such streets and roads 

5.26. Anti Terrorism Laws. No Group Member or any Affiliate of any Group Member is in violation of any Anti Terrorism Law or has
engaged in or conspired to engage in any transaction that evades or avoids, or has the purpose of evading or avoiding, or has attempted to violate, any of the prohibitions set forth in any Anti Terrorism Law. No Group Member or Affiliate of any
Group Member is any of the following (each a “Blocked Person”): 
 (a) a Person that is listed
in the annex to, or is otherwise subject to the provisions of, Executive Order no. 13224; 
 (b) 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, Executive Order no. 13224; 

(c) a Person or entity with which any bank or other financial institution is prohibited from dealing or otherwise engaging
in any transaction by any Anti Terrorism Law; 
 (d) a Person or entity that commits, threatens or conspires to
commit or supports “terrorism” as defined in Executive Order no. 13224; 
 (e) a Person or entity that
is named as a “specially designated national” on the most current list published by the U.S. Treasury Department Office of Foreign Asset Control at its official website or any replacement website or other replacement official publication
of such list; or 
 (f) a Person or entity who is affiliated with a Person or entity listed above. 

No Group Member knowingly (i) conducts any business or engages in making or receiving any contribution of funds, goods or services
to or for the benefit of any Blocked Person or (ii) deals in, or otherwise engages in any transaction relating to, any property or interests in property blocked pursuant to Executive Order no. 13224. 

SECTION 6. CONDITIONS PRECEDENT 
 6.1. Closing Date. The obligations of the Lenders to make Loans and of the Issuing Lender to issue Letters of Credit hereunder shall not become effective until the date on which each of the
following conditions is satisfied (or waived in accordance with Section 11.1): 
 (a) Loan Documents.
The Administrative Agent shall have received (i) this Agreement, executed and delivered by each Agent, the Borrowers and each Person that is a Lender as of the Closing Date, (ii) each other Loan Document required to be executed and
delivered by each party thereto on the Closing Date, and (iii) if requested by any Lender pursuant to Section 4.14(d), a promissory note or notes conforming to the requirements of such Section and executed and delivered by a duly
authorized officer of the relevant Borrower(s). 
 (b) Lien Searches. The Administrative Agent shall have
received the results of a recent lien search in each of the jurisdictions where assets of the Loan Parties are located, and such search shall reveal no liens on any of the assets of the Loan Parties except for liens permitted by Section 8.3 or
discharged on or prior to the Closing Date pursuant to documentation satisfactory to the Administrative Agent. 

(c) Fees. The Lenders and the Agents shall have received all fees required to be paid, and all expenses for which
invoices have been presented (including the reasonable fees and expenses of legal counsel), on or before the Closing Date. 
 (d) Closing Date Certificate. The Administrative Agent shall have received (i) a certificate of each Loan Party, dated the Closing Date, substantially in the form of Exhibit H, with
appropriate insertions and attachments including the certificate of incorporation, formation or limited partnership of each 

  
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Loan Party certified by the relevant authority of the jurisdiction of organization of such Loan Party, and (ii) a long form good standing certificate (or, in connection with the Canadian
Loan Parties, a certificate of status or its equivalent) for each Loan Party from its jurisdiction of organization. 
 (e) Legal Opinions. The Administrative Agent shall have received the following executed legal opinions: 
 (i) the legal opinion of Simpson Thacher & Bartlett LLP, counsel to Cedar Fair LP and its Subsidiaries, substantially in the form of Exhibit I-1; 

(ii) the legal opinion of Squire, Sanders & Dempsey L.L.P., Ohio counsel to Cedar Fair LP and its Subsidiaries,
substantially in the form of Exhibit I-2; 
 (iii) the legal opinion of Fasken Martineau DuMoulin LLP, Canadian
counsel to Cedar Fair LP and its Subsidiaries, substantially in the form of Exhibit I-3; 
 (iv) the legal
opinion of Warner Norcross & Judd LLP, Michigan counsel to Cedar Fair LP and its Subsidiaries, substantially in the form of Exhibit I-4; and 
 (v) the legal opinion of McInnes Cooper, Nova Scotia counsel to Cedar Fair LP and its Subsidiaries, substantially in the form of Exhibit I-5. 

Each such legal opinion shall cover such other matters incident to the transactions contemplated by this Agreement as the Administrative
Agent may reasonably require. 
 (f) Filings, Registrations and Recordings. Each document (including any
Uniform Commercial Code and Personal Property Security Act financing statement) required by the Security Documents or under law or reasonably requested by the Collateral Agent to be filed, registered or recorded in order to create in favor of the
Collateral Agent, for the benefit of the applicable Secured Parties, a perfected Lien on the Collateral described in such Security Documents, prior and superior in right to any other Person (other than with respect to Liens permitted by
Section 8.3), shall be in proper form for filing, registration or recordation, and, where permitted by law and feasible, shall have been filed, recorded or registered. 

(g) Pledged Stock; Stock Powers; Pledged Notes. The Collateral Agent shall have received (i) the certificates
representing the shares of Capital Stock pledged pursuant to the Guarantee and Collateral Agreement and the Canadian Security Documents, together with an undated stock or other transfer power for each such certificate executed in blank by a duly
authorized officer of the pledgor thereof and (ii) each promissory note (if any) pledged to the Collateral Agent pursuant to the Guarantee and Collateral Agreement or the Canadian Security Documents endorsed (without recourse) in blank (or
accompanied by an executed transfer form in blank) by the pledgor thereof. 
 (h) Solvency Certificate.
The Administrative Agent shall have received a solvency certificate from the chief financial officer of Cedar Fair LP. 
 (i) Patriot Act, etc. The Administrative Agent shall have received all documentation and other information required by bank regulatory authorities under applicable “know-your-customer”
and anti-money laundering rules and regulations, including the USA Patriot Act requested by it at least three Business Days prior to the Closing Date. 
 (j) Financings and Other Transactions. Prior to or simultaneous with the initial extensions of credit hereunder, the Borrowers shall have received not less than $399.3 million of gross proceeds
from the issuance and sale of the Senior Notes. The Refinancing shall have been consummated in full and the Borrower shall have made arrangements satisfactory to the Administrative Agent for the unconditional release of all liens in favor of the
lenders under the Existing Credit Agreement. 

  
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 6.2. Conditions to Each Extension of Credit. The agreement of each Lender to make any
extension of credit requested to be made by it on any date (including its initial extension of credit) is subject to the satisfaction of the following conditions precedent: 

(a) Representations and Warranties. Each of the representations and warranties made by any Loan Party in or
pursuant to the Loan Documents shall be true and correct in all material respects on and as of such date as if made on and as of such date, except for representations and warranties expressly stated to relate to a specific earlier date, in which
case such representations and warranties shall have been true and correct in all material respects on and as of such earlier date; provided that any representation or warranty that is qualified as to “materiality”, “Material
Adverse Effect” or similar language shall be true and correct (after giving effect to any qualification therein) in all respects on such respective dates. 
 (b) No Default. No Default or Event of Default shall have occurred and be continuing on such date or after giving effect to the extensions of credit requested to be made on such date. 

Each borrowing by and issuance of a Letter of Credit on behalf of any Borrower hereunder shall constitute a representation and warranty by any Borrower
as of the date of such extension of credit that the conditions contained in this Section 6.2 have been satisfied. 
 SECTION
7. AFFIRMATIVE COVENANTS 
 Each Borrower hereby agrees that, so long as the Commitments remain in effect, any Letter of Credit
remains outstanding or any Loan or other amount is owing to any Lender or Agent hereunder, such Borrower shall and shall cause each of its Subsidiaries to: 
 7.1. Financial Statements. Furnish to the Administrative Agent: 
 (a) as soon as available, but in any event within 90 days after the end of each fiscal year of Cedar Fair LP, a copy of the audited consolidated balance sheet of Cedar Fair LP and its consolidated
Subsidiaries as at the end of such year and the related audited consolidated statements of income and of cash flows for such year, setting forth in each case in comparative form the figures for the previous year, reported on without a “going
concern” or like qualification or exception, or qualification arising out of the scope of the audit, by Deloitte and Touche LLP or other independent certified (or, if applicable, chartered) public accountants of nationally recognized standing;

 (b) as soon as available, but in any event not later than 45 days after the end of each of the first three
quarterly periods of each fiscal year of Cedar Fair LP, the unaudited consolidated balance sheet of Cedar Fair LP and its consolidated Subsidiaries as at the end of such quarter and the related unaudited consolidated statements of income and of cash
flows for such quarter and the portion of the fiscal year through the end of such quarter, setting forth in each case in comparative form the figures for the previous year, certified by a Responsible Officer as being fairly stated in all material
respects (subject to normal year end audit adjustments); and 
 (c) for each monthly fiscal period of Cedar Fair
LP ending on or about May 31, June 30, July 31, August 31, September 30 and October 31 of each fiscal year of Cedar Fair LP a monthly performance report setting forth total attendance, revenues,
revenue per capita and EBITDA for such fiscal month and showing a comparison to budget and to the same monthly period in the prior year, such monthly report to be delivered within 25 days after the end of each fiscal month for which such report is
due. 
 All such financial statements shall be complete and correct in all material respects and shall be prepared in reasonable detail and in
accordance with GAAP applied consistently throughout the periods reflected therein and with prior periods (except as approved by such accountants or officer, as the case may be, and disclosed therein). 

7.2. Certificates; Other Information. Furnish to the Administrative Agent (or, in the case of clause (f), to the relevant Lender):

  
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 (a) concurrently with the delivery of the financial statements referred to
in Section 7.1(a), a certificate of the independent certified public accountants reporting on such financial statements stating that in making the examination necessary therefor no knowledge was obtained of any Default or Event of Default under
Section 8.1, except as specified in such certificate; 
 (b) concurrently with the delivery of any financial
statements pursuant to Section 7.1, (i) a certificate of a Responsible Officer stating that, to the best of each such Responsible Officer’s knowledge, each Loan Party during such period has observed or performed all of its covenants
and other agreements, and satisfied every condition, contained in this Agreement and the other Loan Documents to which it is a party to be observed, performed or satisfied by it, and that such Responsible Officer has obtained no knowledge of any
Default or Event of Default except as specified in such certificate, (ii) in the case of quarterly or annual financial statements, a Compliance Certificate containing all information and calculations necessary for determining compliance by each
Group Member with the provisions of this Agreement referred to therein as of the last day of the fiscal quarter or fiscal year of Cedar Fair LP, as the case may be, and, if applicable, for determining the Applicable Margins and Commitment Fee Rate
and (iii) in the case of annual financial statements, to the extent not previously disclosed to the Administrative Agent, a listing of any United States or Canadian registered or applied for Intellectual Property acquired by any Loan Party
since the date of the most recent list delivered pursuant to this clause (iii); 
 (c) as soon as available, and
in any event no later than 90 days after the end of each fiscal year of Cedar Fair LP, a detailed consolidated budget for the fiscal year following such fiscal year then ended (including a projected consolidated balance sheet of Cedar Fair LP and
its Subsidiaries as of the end of the following fiscal year, the related consolidated statements of projected cash flow, projected changes in financial position and projected income and a description of the underlying assumptions applicable
thereto), and, as soon as available, significant revisions, if any, of such budget and projections with respect to such fiscal year (collectively, the “Projections”), which Projections shall in each case be accompanied by a
certificate of a Responsible Officer stating that such Projections are based on reasonable estimates, information and assumptions and that such Responsible Officer has no reason to believe that such Projections are incorrect or misleading in any
material respect; 
 (d) if Cedar Fair LP is not then a reporting company under the Securities Exchange Act of
1934, as amended (the “Exchange Act”), within 45 days after the end of each fiscal quarter of Cedar Fair LP (or 90 days, in the case of the last fiscal quarter of any fiscal year), a narrative discussion and analysis of the
financial condition and results of operations of Cedar Fair LP and its Subsidiaries for such fiscal quarter and for the period from the beginning of the then current fiscal year to the end of such fiscal quarter, as compared to the portion of the
Projections covering such periods and to the comparable periods of the previous year; 
 (e) within five days
after the same are sent, copies of all financial statements and reports that any Borrower sends to the holders of any class of its debt securities or public equity securities and, within five days after the same are filed, copies of all financial
statements and reports that any Borrower may make to, or file with, the SEC or any other governmental or regulatory authority; 
 (f) promptly upon the Administrative Agent’s request, a copy of each Canadian Benefit Plan and Canadian Pension Plan (or, where any such Canadian Benefit Plan or Canadian Pension Plan is not in
writing, a complete description of all material terms thereof) then in effect and, if applicable, all related trust agreements or other funding instruments and all amendments thereto then in effect, and all written interpretations thereof and
written descriptions thereof that remain applicable and that have been distributed to employees or former employees of the Group Members; 
 (g) promptly, such additional financial and other information as any Lender may through the Administrative Agent from time to time reasonably request; and 

(h) documents required to be delivered pursuant to Section 7.1 or Section 7.2 (to the extent any such documents
are included in materials otherwise filed with the SEC) may be delivered electronically and if so delivered, shall be deemed to have been delivered on the date (i) on which the U.S. Borrower

  
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posts such documents, or provides a link thereto on its website on the Internet at www.cedarfair.com, www.sec.gov or at such other website identified by the U.S. Borrower in a notice to the Agent
and that is accessible by the Lenders without charge; or (ii) on which such documents are posted on the U.S. Borrower’s behalf on IntraLinks/IntraAgency or another relevant website, if any, to which each Lender and the Administrative Agent
have access (whether a commercial, third-party website or whether sponsored by the Administrative Agent); provided that upon written request by the Administrative Agent, the U.S. Borrower shall deliver paper copies of such documents to the
Administrative Agent for further distribution to each Lender until a written request to cease delivering paper copies is given by the Administrative Agent; provided further that the Lenders shall be deemed to have received such
information on the date such information is posted at the website pursuant to this clause (h). 
 7.3. Payment of
Obligations. Pay, discharge or otherwise satisfy at or before maturity or before they become delinquent, as the case may be, all its material obligations of whatever nature (including any material Tax obligations), except, with respect to
material obligations the failure to pay or perform would not otherwise result in a Default or Event of Default, where the amount or validity thereof is currently being contested in good faith by appropriate proceedings and reserves in conformity
with GAAP with respect thereto have been provided on the books of the relevant Group Member. 
 7.4. Maintenance of
Existence; Compliance. (a) (i) Preserve, renew and keep in full force and effect its organizational existence and (ii) take all reasonable action to maintain all rights, privileges and franchises necessary or desirable in the
normal conduct of its business, except, in each case, as otherwise permitted by Section 8.4 and except, in the case of clause (ii) above, to the extent that failure to do so could not reasonably be expected to have a Material Adverse
Effect and (b) comply with all Contractual Obligations and Requirements of Law except to the extent that failure to comply therewith could not, in the aggregate, reasonably be expected to have a Material Adverse Effect. 

7.5. Maintenance of Property; Insurance. (a) Keep all property useful and necessary in its business in good working order and
condition, ordinary wear and tear excepted, except to the extent that failure to do so could not, in the aggregate, reasonably be expected to have a Material Adverse Effect and (b) maintain with financially sound and reputable insurance
companies insurance (and separately, if applicable, flood insurance) on all such property in at least such amounts and against at least such risks (but including in any event public liability, product liability, business interruption, and flood
insurance) as are usually insured against in the same general area by companies engaged in the same or a similar business and otherwise satisfying the criteria set forth in the Security Documents. 

7.6. Inspection of Property; Books and Records; Discussions. (a) Keep proper books of records and account 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 and (b) upon reasonable notice, permit representatives of any Lender to visit and
inspect any of its properties and examine and make abstracts from any of its books and records at any reasonable time and as often as may reasonably be desired and to discuss the business, operations, properties and financial and other condition of
the Group Members with Responsible Officers or comparable officers of any other Group Member and with their independent certified public accountants. 
 7.7. Notices. Promptly give notice to the Administrative Agent and each Lender of: 
 (a) the occurrence of any Default or Event of Default; 
 (b) any
(i) default or event of default under any Contractual Obligation of any Group Member or (ii) litigation, investigation or proceeding that may exist at any time between any Group Member and any Governmental Authority where the likelihood of
an adverse determination is not remote, that in either case, if not cured or if adversely determined, as the case may be, could reasonably be expected to have a Material Adverse Effect; 

(c) any litigation or proceeding affecting any Group Member (i) in which injunctive or similar relief is sought or
(ii) which relates to any Loan Document; 

  
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 (d) the following events, as soon as possible and in any event within 30
days after any Borrower knows or has reason to know thereof: (i) the occurrence of any Reportable Event with respect to any Plan, a failure to make any required contribution to a Plan, the creation of any Lien in favor of the PBGC or a Plan or
any withdrawal from, or the termination, Reorganization or Insolvency of, any Multiemployer Plan or (ii) the institution of proceedings or the taking of any other action by the PBGC or Cedar Fair LP or any Commonly Controlled Entity or any
Multiemployer Plan with respect to the withdrawal from, or the termination, Reorganization or Insolvency of, any Plan, or (iii) the equivalent of any event or occurrence referred to in this paragraph under or with respect to any Canadian
Pension Plan or Canadian Benefit Plan; and 
 (e) any development or event that has had or could reasonably be
expected to have a Material Adverse Effect. 
 Each notice pursuant to this Section 7.7 shall be accompanied by a statement of a
Responsible Officer setting forth details of the occurrence referred to therein and stating what action Cedar Fair LP or the relevant Subsidiary proposes to take with respect thereto. 

7.8. Environmental Laws. 
 (a) Comply with, and ensure compliance by all tenants and subtenants, if any, with, all applicable Environmental Laws, and obtain and comply with and maintain, and ensure that all tenants and subtenants
obtain and comply with and maintain, any and all licenses, approvals, notifications, registrations or permits required by applicable Environmental Laws, except, in each case, to the extent the failure to do so could not reasonably be expected to
have a Material Adverse Effect. 
 (b) Conduct and complete all investigations, studies, sampling and testing,
and all remedial, removal and other actions required under Environmental Laws or reasonably requested by the Administrative Agent and promptly comply with all lawful orders and directives of all Governmental Authorities regarding Environmental Laws,
except to the extent the failure to do so could not reasonably be expected to have a Material Adverse Effect. 
 7.9.
Interest Rate Protection. In the case of Cedar Fair LP, no later than 30 days after the Closing Date, maintain Hedge Agreements (including, for the avoidance of doubt, Hedge Agreements in existence on the Closing Date) to the extent necessary
to provide that at least 50% of the aggregate principal amount of Term Loans and Senior Notes is subject to either a fixed interest rate or interest rate protection for a period of not less than three years from the Closing Date, which Hedge
Agreements shall have terms and conditions reasonably satisfactory to the Administrative Agent. 
 7.10. Additional
Collateral, etc. 
 (a) With respect to any Property acquired after the Closing Date by any Group Member
(other than (x) any Property described in paragraph (b), (c) or (d) below and (y) any Property subject to a Lien expressly permitted by Section 8.3(g)) as to which the Collateral Agent, for the benefit of the Secured Parties
(in the case of any such Property owned by a Group Member other than an Excluded Foreign Subsidiary), does not have a perfected Lien, promptly (i) execute and deliver to the Collateral Agent such amendments to the Guarantee and Collateral
Agreement and any other Security Document or such other documents as the Collateral Agent reasonably deems necessary or advisable to grant to the Collateral Agent, for the benefit of the applicable Secured Parties (as set forth above), a security
interest and Lien in such Property, in each case, in accordance with the terms and conditions of the applicable Security Documents and (ii) take all actions necessary or advisable to grant to the Collateral Agent, for the benefit of the
applicable Secured Parties (as set forth above), a perfected first priority security interest and Lien in such Property, including the filing of Uniform Commercial Code and Personal Property Security Act financing statements in such jurisdictions as
may be required by the Guarantee and Collateral Agreement or any other Security Document or by law or as may be requested by the Collateral Agent. 

  
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 (b) With respect to any fee interest in any real property having a value
(together with improvements thereof) of at least $5,000,000 or any leasehold interest with annual rental payments in excess of $1,000,000 acquired after the Closing Date by any Loan Party (other than any such real property subject to a Lien
expressly permitted by Section 8.3(g)), promptly (i) execute and deliver a first priority Mortgage or supplemental debenture, in favor of the Collateral Agent, for the benefit of the Secured Parties free and clear of all Liens other than
Liens permitted pursuant to clauses (a), (b), (e), (h), (i), (k) and (m) of Section 8.3 (in the case of any such Property owned by a Loan Party), covering such real property, (ii) satisfy the requirements set forth in
Section 7.10(d)(ii) and (iii) above with respect to such Mortgages, and (iii) 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; provided, however, the U.S. Borrower or the applicable Loan Party shall only be obligated to deliver a Leasehold Mortgage with respect to such
leasehold interests upon receipt of any required landlord consent to such Leasehold Mortgage after using commercially reasonable efforts within such 90 days to obtain such consent. 

(c) With respect to any new Material Subsidiary (other than an Excluded Foreign Subsidiary) created or acquired after the
Closing Date by any Group Member (which, for the purposes of this paragraph (c), shall include any existing Material Subsidiary that ceases to be an Excluded Foreign Subsidiary or any existing Subsidiary that becomes a Material Subsidiary), promptly
(i) execute and deliver to the Collateral Agent such amendments to the Guarantee and Collateral Agreement and each other Security Document or such other documents as the Collateral Agent reasonably deems necessary or advisable to grant to the
Collateral Agent, for the benefit of the Secured Parties, a perfected first priority security interest and Lien in the Capital Stock of such new Subsidiary that is owned by any Group Member, subject to Liens for Statutory Prior Claims,
(ii) deliver to the Collateral Agent the certificates representing such Capital Stock, together with undated stock powers, in blank, executed and delivered by a duly authorized officer of the relevant Group Member, (iii) cause such new
Subsidiary (A) to become a party to the Guarantee and Collateral Agreement and any other Security Document requested by the Collateral Agent to guarantee the Obligations, (B) to take such actions necessary or advisable to grant to the
Collateral Agent for the benefit of the Secured Parties a perfected first priority security interest and Lien in the Collateral, subject to Liens expressly permitted by Section 8.3(g), with respect to such new Subsidiary, including the filing
of Uniform Commercial Code and Personal Property Security Act financing statements in such jurisdictions as may be required by the Guarantee and Collateral Agreement, any other Security Document or by law or as may be requested by the Collateral
Agent and (C) to deliver to the Collateral Agent a certificate of such Subsidiary, substantially in the form of Exhibit H, with appropriate insertions and attachments, and (iv) 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. 

(d) Within 90 days after the Closing Date (or such longer period as the Collateral Agent may agree in its reasonable
discretion), Cedar Fair LP or the applicable Loan Party shall deliver: (i) to the Collateral Agent a Mortgage with respect to each Mortgaged Property executed and delivered by a duly authorized officer of each party thereto to be duly recorded
or registered in all applicable registry, land titles or other recording offices; provided, however, the U.S. Borrower or the applicable Loan Party shall only be obligated to deliver a Leasehold Mortgage with respect to such leasehold
interests upon receipt of any required landlord consent to such Leasehold Mortgage after using commercially reasonable efforts within such 90 days to obtain such consent. 

(ii) to the Collateral Agent, in respect of each Mortgaged Property a Title Policy or a marked up unconditional commitment
for such Title Policy. Each such Title Policy shall (A) be in an amount satisfactory to the Collateral Agent, but in no event in an amount in excess of the fair market value of the applicable Mortgaged Property and fixtures as determined by the
Borrower in good faith and reasonably acceptable to the Collateral Agent, provided that the total value of all Title Policies, in the aggregate, shall not exceed the total amount of the Obligations and, to the extent any Mortgaged Property is
located in a jurisdiction which imposes mortgage recording taxes or similar fees, the relevant Mortgage shall not secure an amount in excess of the Title Policy; (B) insure that the Mortgage insured thereby creates a valid first Lien on such
Mortgaged Property free 

  
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and clear of all Liens, except for Liens permitted pursuant to clauses (a), (b), (e), (h), (i), (k) and (m) of Section 8.3; (C) name the Collateral Agent for the benefit of
the applicable Secured Parties as the insured thereunder; (D) be in the form of ALTA Loan Policy 2006 (or equivalent policies and, in the case of Mortgaged Property in the State of Michigan, Form 1992); (E) contain such endorsements
and affirmative coverage as the Collateral Agent may reasonably request to the extent such endorsements may be issued at commercially reasonable rates, provided, however, that in no event shall a creditor’s rights endorsement be
required, and (F) be issued by title companies reasonably satisfactory to the Collateral Agent (including any such title companies acting as co insurers or reinsurers, at the option of the Collateral Agent). The Collateral Agent shall have
received evidence satisfactory to it that all premiums in respect of each such Title Policy, all charges for mortgage recording tax, and all related expenses, if any, have been paid; 

(iii) to the Collateral Agent, a completed “Life-of-Loan” Federal Emergency Management Agency Standard Flood
Hazard Determination with respect to each Mortgaged Property (together with a notice about special flood hazard area status and flood disaster assistance duly executed by the Borrower and each Loan Party relating thereto) and, if required, evidence
of flood insurance as required by applicable law and otherwise in form and substance reasonably acceptable to the Administrative Agent; 
 (iv) to the Administrative Agent, a copy of, or a certificate as to coverage under the insurance policies required by Section 7.5 and the applicable provisions of the Security Documents, each of
which shall be endorsed or otherwise amended to include a “standard” or “New York” lender’s loss payable or mortgage endorsement (as applicable) and shall name the Collateral Agent, on behalf of the Secured Parties as
additional insured in form and substance reasonably acceptable to the Administrative Agent; 
 (v) to the title
insurance company copies of existing surveys together with any affidavits, or new surveys, as may be reasonably necessary to cause the title insurance company to issue coverage over all general survey exceptions and to issue all endorsements
reasonably requested by the Collateral Agent; 
 (vi) to the Collateral Agent a copy of all recorded or
registered documents referred to, or listed as exceptions to title in, the title policy or policies referred to in clause (ii) above and a copy of all other material documents affecting the Mortgaged Properties, and shall be reasonably
satisfied with the same; and 
 (vii) with respect to the Mortgages pursuant to clause (i) above, to the
Administrative Agent the legal opinion of Squire, Sanders & Dempsey, L.L.P., California counsel to Cedar Fair LP and its Subsidiaries, substantially in form and substance reasonably satisfactory to the Collateral Agent; the legal opinion of
Lindquist & Vennum, P.L.L.P., Minnesota counsel to Cedar Fair LP and its Subsidiaries, substantially in form and substance reasonably satisfactory to the Collateral Agent; the legal opinion of Bryan Cave LLP, Missouri counsel to Cedar Fair
LP and its Subsidiaries, substantially in form and substance reasonably satisfactory to the Collateral Agent; the legal opinion of Robinson, Bradshaw & Hinson, P.A., North Carolina counsel to Cedar Fair LP and its Subsidiaries,
substantially in form and substance reasonably satisfactory to the Collateral Agent; the legal opinion of Robinson, Bradshaw & Hinson, P.A., South Carolina counsel to Cedar Fair LP and its Subsidiaries, substantially in form and substance
reasonably satisfactory to the Collateral Agent; the legal opinion of Fitzpatrick Lentz & Bubba, P.C., Pennsylvania counsel to Cedar Fair LP and its Subsidiaries, substantially in form and substance reasonably satisfactory to the Collateral
Agent; the legal opinion of Squire, Sanders & Dempsey L.L.P., Virginia counsel to Cedar Fair LP and its Subsidiaries, substantially in form and substance reasonably satisfactory to the Collateral Agent; and the legal opinion of
Gordon & Silver, Ltd., Nevada counsel to Cedar Fair LP and its Subsidiaries, substantially in form and substance reasonably satisfactory to the Collateral Agent. 

  
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 (e) Within 30 days after the Closing Date (or such longer period as the
Collateral Agent may agree in its reasonable discretion), the Collateral Agent shall have received insurance certificates satisfying the requirements of Section 5.3(c) of the Guarantee and Collateral Agreement. 

7.11. Further Assurances. From time to time execute and deliver, or cause to be executed and delivered, such additional
instruments, certificates or documents, and take all such actions, as the Administrative Agent or the Collateral Agent may reasonably request for the purposes of implementing or effectuating the provisions of this Agreement and the other Loan
Documents, or of more fully perfecting or renewing the rights of the Collateral Agent and the applicable Secured Parties with respect to the Collateral (or with respect to any additions thereto or replacements or proceeds thereof or with respect to
any other property or assets hereafter acquired by any Borrower or any Subsidiary which may be deemed to be part of the Collateral) pursuant hereto or thereto. Upon the exercise by the Collateral Agent or any other Secured Party of any power, right,
privilege or remedy pursuant to this Agreement or the other Loan Documents which requires any consent, approval, recording qualification or authorization of any Governmental Authority, each Borrower will execute and deliver, or will cause the
execution and delivery of, all applications, certifications, instruments and other documents and papers that the Collateral Agent or such Secured Party may be required to obtain from any Borrower or any of its Subsidiaries for such governmental
consent, approval, recording, qualification or authorization. 
 7.12. Clean Down. The U.S. Borrower or the Canadian
Borrower, as applicable, shall prepay such portion of the outstanding Revolving Loans (and refrain from requesting and/or drawing further Revolving Loans under the Revolving Credit Facilities) as and to the extent necessary to ensure that at least
once during each fiscal year of Cedar Fair LP, commencing with the fiscal year ending December 31, 2011, there shall be a period of not less than thirty consecutive days in which the sum of (i) the aggregate unpaid principal balance of the
Revolving Loans denominated in Dollars and (ii) the Dollar Equivalent of the aggregate unpaid principal balance of Revolving Loans denominated in Canadian Dollars, does not exceed $25,000,000. 

SECTION 8. NEGATIVE COVENANTS 
 Each Borrower hereby agrees that, so long as the Commitments remain in effect, any Letter of Credit remains outstanding or any Loan or other amount is owing to any Lender or Agent hereunder, each Borrower
shall not, and shall not permit any of its Subsidiaries to, directly or indirectly: 
 8.1. Financial Condition
Covenants. 
 (a) Consolidated Leverage Ratio. Permit the Consolidated Leverage Ratio as at the last
day of any period of four consecutive fiscal quarters of Cedar Fair LP ending with any fiscal quarter set forth below to exceed the ratio set forth below opposite such fiscal quarter: 

 

			
	 FISCAL QUARTERS ENDING
 DURING THE FOLLOWING PERIODS:
	  	 CONSOLIDATED

LEVERAGE RATIO

	 Fiscal Q3 2010 through and including the last day of Fiscal Q3 2011
	  	6.25 to 1.00
		
	 Fiscal Q4 2011 through and including the last day of Fiscal Q3 2012
	  	6.00 to 1.00
		
	 Fiscal Q4 2012 through and including the last day of Fiscal Q3 2013
	  	6.00 to 1.00
		
	 Fiscal Q4 2013 through and including the last day of Fiscal Q3 2014
	  	5.75 to 1.00
		
	 Fiscal Q4 2014 through and including the last day of Fiscal Q3 2015
	  	5.50 to 1.00
		
	 Fiscal Q4 2015 through and including the last day of Fiscal Q3 2016
	  	5.25 to 1.00
		
	Thereafter	  	5.25 to 1.00

(b) Consolidated Fixed Charge Coverage Ratio. Permit the Consolidated Fixed Charge Coverage Ratio for any period
of four consecutive fiscal quarters of Cedar Fair LP ending with any fiscal quarter set forth below to be less than the ratio set forth below opposite such fiscal quarter: 

  
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	 FISCAL QUARTERS ENDING
 DURING THE FOLLOWING PERIODS:
	  	 CONSOLIDATED FIXED

CHARGE COVERAGE RATIO

	 Fiscal Q3 2010 through and including the last day of Fiscal Q3 2011
	  	1.05 to 1.00
		
	 Fiscal Q4 2011 through and including the last day of Fiscal Q3 2012
	  	1.075 to 1.00
		
	 Fiscal Q4 2012 through and including the last day of Fiscal Q3 2013
	  	1.075 to 1.00
		
	 Fiscal Q4 2013 through and including the last day of Fiscal Q3 2014
	  	1.10 to 1.00
		
	 Fiscal Q4 2014 through and including the last day of Fiscal Q3 2015
	  	1.10 to 1.00
		
	 Fiscal Q4 2015 through and including the last day of Fiscal Q3 2016
	  	1.10 to 1.00
		
	 Thereafter
	  	1.10 to 1.00

 8.2.
Indebtedness. Create, issue, incur, assume, become liable in respect of or suffer to exist any Indebtedness, except: 
 (a) Indebtedness of any Loan Party pursuant to any Loan Document; 

(b) Indebtedness (i) of Cedar Fair LP to any Subsidiary and (ii) of any Subsidiary to Cedar Fair LP or any other
Subsidiary; provided, however, that (A) if the U.S. Borrower or any Subsidiary Guarantor is the obligor on such Indebtedness and the payee is not the U.S. Borrower or a Subsidiary Guarantor, such Indebtedness must be expressly
subordinated to the prior payment in full in cash of the Obligations pursuant to the terms of the Subordinated Intercompany Note, and (B) if any Loan Party is the payee on such Indebtedness, such Indebtedness must be pledged as Collateral as
contemplated by Section 7.10. 
 (c) Guarantee Obligations incurred in the ordinary course of business by
the U.S. Borrower or any Subsidiary Guarantor of obligations of the U.S. Borrower or any Subsidiary Guarantor; 

(d) Indebtedness outstanding on the Closing Date and listed on Schedule 8.2(d) and any Permitted Refinancing Indebtedness
in respect thereof; 
 (e) Indebtedness (including, without limitation, Capital Lease Obligations)
(i) secured by Liens permitted by Section 8.3(g) in an aggregate principal amount not to exceed $50,000,000 at any one time outstanding and (ii) arising from leases entered into in connection with sale and leaseback transactions
permitted by Section 8.10 and any Permitted Refinancing Indebtedness in respect thereof; 
 (f) Hedge
Agreements permitted under Section 8.11; 
 (g) Subordinated Debt or Qualifying Senior Unsecured Debt of
Cedar Fair LP or any Subsidiary Guarantor the Net Cash Proceeds of which are solely used to finance Permitted Acquisitions (including the payment of related transaction fees and costs) so long as Cedar Fair LP is in compliance, on a Pro Forma Basis,
with the covenants set forth in Section 8.1 and any Permitted Refinancing Indebtedness in respect thereof; provided that any such Subordinated Debt shall not be guaranteed by any Group Member (other than guarantees by any Subsidiary
Guarantor, but only if and to the extent that any such guarantee is subordinated to the Obligations and the guarantees of the Obligations on the same terms as such Subordinated Debt is subordinated to the Obligations and the guarantees of the
Obligations); 
 (h) Subordinated Debt, Qualifying Senior Unsecured Debt or Qualifying Senior Secured Debt of
Cedar Fair LP or any Subsidiary Guarantor the Net Cash Proceeds of which are applied solely to the prepayment of Loans in accordance with Section 4.2(b) and any Permitted Refinancing Indebtedness in respect thereof; provided that any
such Subordinated Debt shall not be guaranteed by any Group Member (other than guarantees by any Subsidiary Guarantor, but only if and to the extent that such guarantee is subordinated to the Obligations and the guarantees of the Obligations on the
same terms as such Subordinated Debt is subordinated to the Obligations and the guarantees of the Obligations); 

(i) earn out obligations, deferred compensation and purchase price adjustment obligations in connection with Permitted
Acquisitions or Dispositions permitted by Section 8.5; 

  
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 (j) Indebtedness represented by the Senior Notes and any guarantee thereof
by any Subsidiary Guarantor in an aggregate principal amount not to exceed $500,000,000 and any Permitted Refinancing Indebtedness incurred in respect thereof; 
 (k) Indebtedness of Cedar Fair LP or any of its Subsidiaries not otherwise permitted by this Section in an aggregate principal amount not to exceed $75,000,000 at any one time outstanding; and 

(l) Indebtedness of any Person assumed by Cedar Fair LP or any of its Subsidiaries in connection with a Permitted
Acquisition or Indebtedness of a Person existing at the time it becomes a Subsidiary of Cedar Fair LP (and, in each case, not created at the time of or in contemplation of such acquisition) and any Permitted Refinancing Indebtedness in respect
thereof in an aggregate principal amount not to exceed $50,000,000 outstanding at any time. 
 8.3. Liens. Create,
incur, assume or suffer to exist any Lien upon any of its property, whether now owned or hereafter acquired, except for: 
 (a) Liens securing Statutory Prior Claims and Liens for Taxes not yet due or that are being contested in good faith by appropriate proceedings; provided that adequate reserves with respect thereto
are maintained on the books of Cedar Fair LP or its Subsidiaries, as the case may be, in conformity with GAAP; 

(b) carriers’, warehousemen’s, mechanics’, landlord’s, materialmen’s, repairmen’s or other
like Liens arising in the ordinary course of business that are not overdue for a period of more than 30 days or that are being contested in good faith by appropriate proceedings; provided such Liens have not been registered on title;

 (c) pledges or deposits in connection with workers’ compensation, unemployment insurance and other social
security legislation; 
 (d) deposits to secure the performance of bids, trade contracts (other than for borrowed
money), leases, statutory obligations, surety and appeal bonds, performance bonds and other obligations of a like nature incurred in the ordinary course of business; 

(e) zoning, entitlements and other land use and environmental restrictions or regulations imposed by a Governmental
Authority, easements, rights of way, restrictions and other similar encumbrances incurred in the ordinary course of business that, in the aggregate, are not substantial in amount and that do not in any case materially and adversely affect the value
of the property subject thereto or materially interfere with the ordinary conduct of the business of Cedar Fair LP or any of its Subsidiaries; 
 (f) Liens in existence on Closing Date listed on Schedule 8.3(f), securing Indebtedness permitted by Section 8.2(d); 

(g) Liens (x) securing Indebtedness of Cedar Fair LP or any other Subsidiary incurred pursuant to Section 8.2(e)
to finance the acquisition of fixed or capital assets; provided that (i) such Liens shall be created upon or within 90 days following the acquisition of such fixed or capital assets, (ii) such Liens do not at any time encumber any
property other than the property financed by such Indebtedness and (iii) the amount of Indebtedness secured thereby is not increased and (y) securing Permitted Refinancing Indebtedness permitted by Section 8.2(e); 

(h) Liens created pursuant to the Security Documents; 

(i) any interest or title of a lessor under any lease entered into by Cedar Fair LP or any Subsidiary in the ordinary
course of its business and covering only the assets so leased; 

  
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 (j) Liens securing Indebtedness permitted by Section 8.2(l), so long as
(i) such Lien does not extend to or cover any other assets or property and (ii) such Lien was not created at the time of or in contemplation of the applicable Permitted Acquisition; 

(k) Liens which are set forth as exceptions to the Title Policies; provided such Liens are acceptable to the
Collateral Agent; 
 (l) Liens not otherwise permitted by this Section so long as the aggregate outstanding
principal amount of the obligations secured thereby does not exceed $50,000,000 at any one time; and 
 (m) Liens
on the Collateral on a first- or second-priority basis owned by Cedar Fair LP and the Subsidiary Guarantors securing Qualifying Senior Secured Debt. 
 8.4. Fundamental Changes. Enter into any merger, consolidation or amalgamation, or liquidate, wind up or dissolve itself (or suffer any liquidation or dissolution), or Dispose of, all or
substantially all of its property or business, except that: 
 (a) any Subsidiary of the U.S. Borrower (other
than the Canadian Borrower) may be merged, consolidated or amalgamated with or into the U.S. Borrower (provided that the U.S. Borrower shall be the continuing or surviving Person) or with or into any Subsidiary Guarantor (provided that
the Subsidiary Guarantor shall be the continuing or surviving Person); 
 (b) any Subsidiary of the U.S. Borrower
incorporated under the laws of Canada or any province thereof may be amalgamated with or into the Canadian Borrower (provided that the Canadian Borrower shall be the continuing or surviving Person) or with or into any Subsidiary Guarantor
incorporated under the laws of Canada or any province thereof (provided that the Subsidiary Guarantor shall be the continuing or surviving Person); 
 (c) any Subsidiary of the U.S. Borrower may Dispose of any or all of its assets (upon voluntary liquidation or otherwise) to the U.S. Borrower or any Subsidiary Guarantor; 

(d) any Subsidiary of the U.S. Borrower may merge or amalgamate with another Person to effect a transaction permitted
under Section 8.7(h); provided that the U.S. Borrower or a Subsidiary Guarantor (or a Person that becomes a Subsidiary Guarantor) shall be the continuing or surviving Person; 

(e) transactions permitted under Section 8.5 shall be permitted; and 

(f) so long as no Default exists or would result therefrom, the U.S. Borrower may merge with any other Person;
provided that the U.S. Borrower shall be the continuing or surviving corporation. 
 8.5. Disposition of Property.
Dispose of any of its property, whether now owned or hereafter acquired, or, in the case of any Subsidiary, issue or sell any shares of such Subsidiary’s Capital Stock to any Person, except: 

(a) the Disposition of obsolete or worn out property in the ordinary course of business; 

(b) the sale of inventory in the ordinary course of business; 

(c) Dispositions permitted by Section 8.4(b); 

(d) subject to Section 8.7, (i) the sale or issuance of the Capital Stock of any Subsidiary of the U.S. Borrower
to the U.S. Borrower or any Subsidiary Guarantor and (ii) the sale or issuance of the Capital Stock of any Subsidiary of the U.S. Borrower that is not a Subsidiary Guarantor to any other Subsidiary of the U.S. Borrower that is not a Subsidiary
Guarantor; 

  
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 (e) the Disposition of other property (other than in connection with any
sale and leaseback of any such property) having a fair market value not to exceed $250,000,000 in the aggregate from and after the Closing Date; provided that (i) after giving effect to such Disposition and any required prepayment of the
Term Loans pursuant to Section 4.2(c), Cedar Fair LP shall be in compliance, on a Pro Forma Basis, with the covenants set forth in Section 8.1 and (ii) at least 80% of the consideration received in respect of such Disposition is cash;

 (f) the Disposition of other property (other than in connection with any sale and leaseback of any such
property) having a fair market value not to exceed $25,000,000 in the aggregate in any fiscal year of the Borrower; provided that at least 80% of the consideration received in respect of such Disposition is cash; 

(g) the Disposition of other property from and after the Closing Date for consideration at least equal to the fair market
value of such property (as determined in good faith by the Board of Directors of Cedar Fair LP) so long as (i) after giving effect to such Disposition and any required prepayment of the Term Loans pursuant to Section 4.2(b), Cedar Fair LP
shall be in compliance, on a Pro Forma Basis, with the covenants set forth in Section 8.1, (ii) the consideration received in respect of any such Disposition shall be no less than an amount equal to (x) the Consolidated EBITDA
attributable to such asset (as determined in good faith by the Board of Directors of Cedar Fair LP) multiplied by (y)(i) the Consolidated Leverage Ratio as of the most recent test date pursuant to Section 8.1(a) plus
(ii) 0.25, (iii) at least 80% of the consideration received in respect of such Disposition is cash and (iv) no more than five amusement parks (excluding water parks) shall be Disposed pursuant to this clause (g); and 

(h) any exchange of assets for services and/or other assets of comparable or greater value; provided, that
(i) at least 90% of the consideration received by the transferor consists of assets that will be used in a business or business activity permitted hereunder, (ii) the fair market value (as determined in good faith by the U.S. Borrower) of
all assets Disposed of pursuant to this clause (h) shall not exceed $25,000,000, (iii) no Default or Event of Default exists or would result therefrom and (iv) the Net Cash Proceeds, if any, thereof are applied in accordance with
Section 4.2(c). 
 8.6. Restricted Payments. Declare or pay any dividends or distributions (other than dividends or
distributions payable solely in common stock of the Person making such dividends or distributions) on, or make any payment on account of, or set apart assets for a sinking or other analogous fund for, the purchase, redemption, defeasance, retirement
or other acquisition of, any Capital Stock of any Group Member, whether now or hereafter outstanding, or make any other distribution in respect thereof, either directly or indirectly, whether in cash or property or in obligations of any Borrower or
any Subsidiary (collectively, “Restricted Payments”), except that: 
 (a)(i) any Subsidiary of
the U.S. Borrower may make Restricted Payments to the U.S. Borrower or any Subsidiary Guarantor and (ii) any Subsidiary of the U.S. Borrower that is not a Subsidiary Guarantor may make Restricted Payments to any other Subsidiary of the U.S.
Borrower; 
 (b) Cedar Fair LP may make repurchases of Capital Stock of current and former employees and officers
of a Group Member or the Managing General Partner (or their family members, trusts for their benefit or their estates) in an amount not to exceed $5,000,000 from and after the Closing Date; 

(c) so long as (x) no Default or Event of Default has occurred or is continuing, and (y) the Senior Secured
Leverage Ratio on a Pro Forma Basis would be less than 3.00 to 1.00 as of the last day of the most recent quarter for which internal financial statements are available on the date any such Restricted Payment is made, Cedar Fair LP may purchase or
redeem its Capital Stock (including related stock appreciation rights or similar securities) in an aggregate amount not to exceed $20,000,000 in any fiscal year (or $35,000,000 in any fiscal year if the Senior Secured Leverage Ratio on a Pro Forma
Basis would be less than 2.50 to 1.00 as of the last day of the most recent quarter for which internal financial statements are available on the date any such Restricted Payment is made); provided, however, that no such purchases or
redemptions pursuant to this clause (c) shall be permitted prior to January 1, 2011; 

  
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 (d) so long as no Default or Event of Default has occurred or is continuing,
Cedar Fair LP and any of its Subsidiaries may make Restricted Payments in an aggregate amount not to exceed (i) $60,000,000 in fiscal year 2011 and (ii) $20,000,000 in each fiscal year after fiscal year 2011; 

(e) so long as (x) no Default or Event of Default has occurred or is continuing, and (y) the Senior Secured
Leverage Ratio on a Pro Forma Basis would be less than 3.00 to 1.00 as of the last day of the most recent quarter for which internal financial statements are available on the date any such Restricted Payment is made, Cedar Fair LP may make
Restricted Payments in Fiscal Q4 2011 in an aggregate amount not to exceed $20,000,000; and 
 (f) so long as
(x) no Default or Event of Default has occurred and is continuing and (y) the Consolidated Leverage Ratio on a Pro Forma Basis would be less than 4.50 to 1.00 as of the last day of the most recent quarter for which internal financial
statements are available on the date any such Restricted Payment is made, commencing in fiscal year 2012, Cedar Fair LP and its Subsidiaries may make Restricted Payments in an aggregate amount equal to the portion, if any, of the Available Amount on
such date that Cedar Fair LP elects to apply to this clause (f), such election to be specified in a written notice of a Responsible Officer of Cedar Fair LP calculating in reasonable detail the Available Amount immediately prior to such election and
the amount thereof elected to be so applied. 
 8.7. Investments. Make any advance, loan, extension of credit (by way of
guaranty or otherwise) or capital contribution to, or purchase any Capital Stock, bonds, notes, debentures or other debt securities of, or any assets constituting a business unit of, or make any other investment in, any Person (all of the foregoing,
“Investments”), except: 
 (a) extensions of trade credit in the ordinary course of business;

 (b) Investments in Cash Equivalents; 

(c) Guarantee Obligations permitted by Section 8.2; 

(d) loans and advances to officers and employees of any Group Member and the Managing General Partner in the ordinary
course of business (including for travel, entertainment and relocation expenses) in an aggregate amount for all Group Members not to exceed $2,000,000 at any one time outstanding; 

(e) Investments in fixed or capital assets useful in the business of Cedar Fair LP and any other Loan Party made by Cedar
Fair LP or any of its Subsidiaries; 
 (f)(i) Cedar Fair LP’s Investments in its Subsidiaries (and such
Subsidiaries’ Investments in their Subsidiaries) identified on Schedule 5.15, as such amounts are outstanding as of the Closing Date, (ii) intercompany Investments by any Group Member in Cedar Fair LP or any Person that, prior to such
Investment, is a Subsidiary Guarantor and (iii) Investments by any Subsidiary of Cedar Fair LP that is not a Subsidiary Guarantor in any Subsidiary of Cedar Fair LP; 

(g) any endorsement of a check or other medium of payment for deposit or collection through normal banking channels or any
similar transaction in the normal course of business; 
 (h) Permitted Acquisitions and Investments acquired as
part of any Permitted Acquisition or a part of a Disposition permitted under Section 8.5(e) or (f); 
 (i)
Investments by Cedar Fair LP or a Subsidiary thereof in Subsidiaries that are not Subsidiary Guarantors in an aggregate amount not to exceed $5,000,000 (net of any return representing a return of capital in respect of any such Investment);

  
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 (j) in addition to Investments otherwise expressly permitted by this
Section 8.7, Investments by Cedar Fair LP or any of its Subsidiaries in an aggregate amount (valued at cost) not to exceed $50,000,000 (net of any return representing a return of capital in respect of any such Investment) from and after the
Closing Date. 
 (k) Investments in joint ventures not in excess of $15,000,000 in the aggregate at any time
outstanding; 
 (l) Investments in Foreign Subsidiaries not to exceed $5,000,000 as valued at the fair market
value (as determined in good faith by the U.S. Borrower) of such Investment at the time such Investment is made; and 
 (m) so long as (x) no Default or Event of Default has occurred and is continuing and (y) the Consolidated Leverage Ratio on a Pro Forma Basis would be less than 4.50 to 1.00 as of the last day
of the most recent quarter for which internal financial statements are available on the date any such Investment is made, commencing in fiscal year 2012, Cedar Fair LP and its Subsidiaries may make Investments in an aggregate amount equal to the
portion, if any, of the Available Amount on such date that Cedar Fair LP elects to apply to this clause (m), such election to be specified in a written notice of a Responsible Officer of Cedar Fair LP calculating in reasonable detail the Available
Amount immediately prior to such election and the amount thereof elected to be so applied. 
 8.8. Optional Payments of
Certain Debt. Make or offer to make any optional or voluntary payment, prepayment, repurchase or redemption of or otherwise optionally or voluntarily defease or segregate funds with respect to any unsecured Indebtedness (other than intercompany
Indebtedness permitted by Section 8.2(b) as long as no Event of Default has occurred and is continuing), except, when no Default or Event of Default has occurred and is continuing, with (i) the Net Cash Proceeds of, without duplication,
the sale or issuance of Capital Stock of Cedar Fair LP or contributions to capital of Cedar Fair LP, but only to the extent that such Net Cash Proceeds are not required to prepay Term Loans or Revolving Loans pursuant to Section 4.2(a),
(ii) the proceeds of (or in exchange for) Permitted Refinancing Indebtedness or (iii) so long as the Consolidated Leverage Ratio on a Pro Forma Basis would be less than 4.50 to 1.00 as of the last day of the most recent fiscal quarter for
which internal financial statements are available prior to the making of such payment, payments in an aggregate amount equal to the portion, if any, of the Available Amount that Cedar Fair LP elects to apply pursuant to this clause (iii) such
election to be specified in a written notice of a Responsible Officer of Cedar Fair LP calculating in reasonable detail the Available Amount immediately prior to such election and the amount thereof elected to be so applied. 

8.9. Transactions with Affiliates. Enter into any transaction, including any purchase, sale, lease or exchange of property, the
rendering of any service or the payment of any management, advisory or similar fees, with any Affiliate (other than Cedar Fair LP or any Subsidiary Guarantor) unless such transaction is (a) otherwise permitted under this Agreement and
(b) upon fair and reasonable terms no less favorable to the relevant Group Member than it would obtain in a comparable arm’s length transaction with a Person that is not an Affiliate; provided, however, that the foregoing
shall not prohibit (a) the payment of customary and reasonable directors’ fees to directors who are not employees of a Group Member or any Affiliate of a Group Member, or (b) subject to the other provisions of this Agreement, any
transaction between a Borrower and an Affiliate of such Borrower or a Subsidiary Guarantor if such Borrower reasonably determines in good faith that such transaction is beneficial to such Borrower and its Subsidiaries taken as a whole and that such
transaction shall not be entered into for the purpose of hindering the exercise by the Administrative Agent or the other Secured Parties of their rights or remedies under this Agreement and the other Loan Documents. 

8.10. Sales and Leasebacks. Enter into any arrangement with any Person providing for the leasing by any Group Member of real or
personal property that has been or is to be sold or transferred by such Group Member to such Person or to any other Person to whom funds have been or are to be advanced by such Person on the security of such property or rental obligations of such
Group Member, except that the Group Members may enter into sale and leaseback transactions otherwise permitted by Section 8.5(g) so long as the aggregate fair market value of all property Disposed of in all such transactions does not exceed
$150,000,000. 

  
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 8.11. Hedge Agreements. Enter into any Hedge Agreement, except (a) those
required by Section 7.9, (b) Hedge Agreements entered into to hedge or mitigate risks (including, without limitation, currency exchange risk) to which Cedar Fair LP or any Subsidiary has actual exposure (other than those in respect of
Capital Stock) and (c) Hedge Agreements entered into in order to effectively cap, collar or exchange interest rates (from fixed to floating rates, from floating to fixed rates, from one floating rate to another floating rate or otherwise) with
respect to any interest bearing liability or investment of Cedar Fair LP or any Subsidiary, but, in each case, not for speculative purposes. 
 8.12. Changes in Fiscal Periods. Permit the fiscal year of Cedar Fair LP to end on a day other than December 31 or change Cedar Fair LP’s method of determining fiscal quarters.

 8.13. Negative Pledge Clauses. Enter into or suffer to exist or become effective any agreement that prohibits or
limits the ability of any Group Member to create, incur, assume or suffer to exist any Lien upon any of its property or revenues, whether now owned or hereafter acquired, to secure its obligations under the Loan Documents other than (a) this
Agreement and the other Loan Documents, (b) any agreements governing any purchase money Liens or Capital Lease Obligations otherwise permitted hereby (in which case, any prohibition or limitation shall only be effective against the assets
financed thereby) and (c) requirements that Qualifying Senior Secured Debt be secured by the same assets securing such Indebtedness. 
 8.14. Clauses Restricting Subsidiary Distributions. Enter into or suffer to exist or become effective any consensual encumbrance or restriction on the ability of any Subsidiary of Cedar Fair LP to
(i) make Restricted Payments in respect of any Capital Stock of such Subsidiary held by, or pay any Indebtedness owed to, Cedar Fair LP or any Subsidiary Guarantor, (ii) make loans or advances to, or other Investments in, Cedar Fair LP or
any Subsidiary Guarantor or (iii) transfer any of its assets to Cedar Fair LP or any Subsidiary Guarantor, except for such encumbrances or restrictions existing under or by reason of (A) any restrictions existing under the Loan Documents,
(B) any restrictions with respect to a Subsidiary imposed pursuant to an agreement that has been entered into in connection with the Disposition of all or substantially all of the Capital Stock or assets of such Subsidiary permitted hereby,
(C) customary restrictions on transfer in connection with purchase money security interests and Capital Lease Obligations otherwise permitted under this Agreement (provided that such restrictions shall be limited to the assets that are
the subject of such purchase money security interest or Capital Lease Obligation), (D) restrictions in Qualifying Senior Unsecured Debt and Qualifying Senior Secured Debt so long as such restrictions are not more onerous, taken as a whole, to
Cedar Fair LP and its Subsidiaries (as determined in good faith by Cedar Fair LP) than the terms of this Agreement and (E) restrictions in the Senior Notes and any Permitted Refinancing thereof so long as, in the case of any Permitted
Refinancing, such restrictions are not more onerous, taken as a whole, to Cedar Fair LP and its Subsidiaries (as determined in good faith by Cedar Fair LP) than the terms of this Agreement or the Senior Notes. 

8.15. Lines of Business. Enter into any business, either directly or through any Subsidiary, except for those businesses in which
Cedar Fair LP and its Subsidiaries were engaged on the Closing Date or that are reasonably related thereto or are reasonable extensions thereof. 
 SECTION 9. EVENTS OF DEFAULT 
 If any of the following events shall occur and be
continuing: 
 (a) any Borrower shall fail to pay any principal of any Loan or Reimbursement Obligation when due
in accordance with the terms hereof; or any Borrower shall fail to pay any interest on any Loan or Reimbursement Obligation, or any other amount payable hereunder or under any other Loan Document, within five days after any such interest or other
amount becomes due in accordance with the terms hereof; or 
 (b) any representation or warranty made or deemed
made by any Loan Party herein or in any other Loan Document or that is contained in any certificate, document or financial or other statement furnished by it at any time under or in connection with this Agreement or any such other Loan Document
shall prove to have been inaccurate in any material respect on or as of the date made or deemed made; or 

  
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 (c) any Loan Party shall default in the observance or performance of any
agreement or action pursuant to clause (i) or (ii) of Section 7.4(a) (with respect to the Borrowers only), Section 7.7(a) or Section 8 of this Agreement; or 

(d) any Loan Party shall default in the observance or performance of any other agreement contained in this Agreement or
any other Loan Document, including any Mortgage (other than as provided in paragraphs (a) through (c) of this Section), and such default shall continue unremedied for a period of 30 days; or 

(e) any Group Member (i) defaults in making any payment of any principal of any Indebtedness (including any Guarantee
Obligation, but excluding the Loans) on the scheduled or original due date with respect thereto; or (ii) defaults in making any payment of any interest on any such Indebtedness beyond the period of grace, if any, provided in the instrument or
agreement under which such Indebtedness was created; or (iii) defaults in the observance or performance of any other agreement or condition relating to any such Indebtedness 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 beneficiary of such Indebtedness (or a trustee or agent on behalf of such holder or
beneficiary) to cause, with the giving of notice if required, such Indebtedness to become due prior to its stated maturity or to become subject to a mandatory offer to purchase by the obligor thereunder or (in the case of any such Indebtedness
constituting a Guarantee Obligation) to become payable; provided, that a default, event or condition described in clause (i), (ii) or (iii) of this paragraph (e) shall not at any time constitute an Event of Default unless, at
such time, one or more defaults, events or conditions of the type described in clauses (i), (ii) and (iii) of this paragraph (e) shall have occurred and be continuing with respect to Indebtedness the outstanding principal amount of
which exceeds in the aggregate $15,000,000; or 
 (f) (i) any Group Member shall commence any case,
proceeding or other action (A) under any existing or future Insolvency Law or similar law of any jurisdiction, domestic or foreign, relating to bankruptcy, insolvency, reorganization or relief of debtors, seeking to have an order for relief
entered with respect to it, or seeking to adjudicate it a bankrupt or insolvent, or seeking reorganization, arrangement, adjustment, winding up, liquidation, dissolution, composition or other relief with respect to it or its debts, or
(B) seeking appointment of a receiver, trustee, custodian, conservator or other similar official for it or for all or any substantial part of its assets, or any Group Member shall make a general assignment for the benefit of its creditors; or
(ii) there shall be commenced against any Group Member any case, proceeding or other action of a nature referred to in clause (i) above that (A) results in the entry of an order for relief or any such adjudication or appointment or
(B) remains undismissed, undischarged or unbonded for a period of at least 60 days; or (iii) there shall be commenced against any Group Member any case, proceeding or other action seeking issuance of a warrant of attachment, execution,
distraint or similar process against all or any substantial part of its assets that results in the entry of an order for any such relief that shall not have been vacated, discharged, or stayed or bonded pending appeal within 60 days from the entry
thereof; or (iv) any Group Member shall take any action in furtherance of, or indicating its consent to, approval of, or acquiescence in, any of the acts set forth in clause (i), (ii), or (iii) above; or (v) any Group Member shall
generally not, or shall be unable to, or shall admit in writing its inability to, pay its debts as they become due; or 
 (g) (i) any Person shall engage in any “prohibited transaction” (as defined in Section 406 of ERISA or Section 4975 of the Code) involving any Plan, (ii) any
“accumulated funding deficiency” (as defined in Section 302 of ERISA), whether or not waived, shall exist with respect to any Plan or any Lien in favor of the PBGC or a Plan shall arise on the assets of any Group Member or any
Commonly Controlled Entity, (iii) a Reportable Event shall occur with respect to, or proceedings shall commence to have a trustee appointed, or a trustee shall be appointed, to administer or to terminate, any Single Employer Plan, which
Reportable Event or commencement of proceedings or appointment of a trustee is reasonably likely to result in the termination of such Plan for purposes of Title IV of ERISA, (iv) any Single Employer Plan shall terminate for purposes of Title IV
of ERISA, (v) any Group Member or any Commonly Controlled Entity shall, or reasonably is likely to, incur any liability in connection with a withdrawal from, or the Insolvency or Reorganization of, a Multiemployer Plan, (vi) any other
event or condition shall occur or exist with 

  
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respect to a Plan, (vii) any Loan Party terminates any applicable Canadian Pension Plan or Canadian Benefit Plan, (viii) any event providing grounds to terminate or wind up a Canadian
Pension Plan or Canadian Benefit Plan in whole or in part by order of any applicable regulatory authority shall occur, (ix) any event or condition occurs which would permit the applicable regulator to appoint a trustee or similar Person to
administer a Canadian Pension Plan or Canadian Benefit Plan, or (x) any Loan Party shall fail to make any contributions when due to a Canadian Pension Plan, a Canadian Benefit Plan or a Canadian multi employer pension plan; and in each case in
clauses (i) and (iii) through (x) above, such event or condition, together with all other such events or conditions, if any, could reasonably be expected to have a Material Adverse Effect; or 

(h) one or more judgments or decrees shall be entered against any Group Member involving in the aggregate a liability (not
paid or fully covered by insurance as to which the relevant insurance company has acknowledged coverage) of $15,000,000 or more, and all such judgments or decrees shall not have been vacated, discharged, stayed or bonded pending appeal within 30
days from the entry thereof; or 
 (i) any of the Security Documents shall cease, for any reason, to be in full
force and effect, or any Loan Party shall so assert, or any Lien created by any of the Security Documents shall cease to be enforceable and of the same effect and priority purported to be created thereby; or 

(j) the guarantee contained in Section 2 of the Guarantee and Collateral Agreement or Section 2 of the Canadian
Guarantee Agreement shall cease, for any reason, to be in full force and effect or any Group Member shall so assert in writing; or 
 (k)(i) any “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the Exchange Act), other than any trustee or other fiduciary holding securities under an employee
benefit plan of the Group Members or the Current Holder Group, shall become, or obtain rights (whether by means of warrants, options or otherwise) to become, the “beneficial owner” (as defined in Rules 13d-3 and 13d-5 under the Exchange
Act), directly or indirectly, of more than 40% of the economic or voting interest in the outstanding Capital Stock of Cedar Fair LP; (ii) the holders of Capital Stock of the U.S. Borrower shall approve a plan of complete liquidation of the U.S.
Borrower; or (iii) Cedar Fair LP shall cease to own, directly or indirectly, 100% of the beneficial ownership (as defined in Rules 13d-3 and 13d-5 under the Exchange Act) of the economic and voting interest of the Canadian Borrower; or

 (l) any Subordinated Debt or the guarantees thereof shall cease, for any reason, to be validly subordinated to
the Obligations or the obligations of the Subsidiary Guarantors under the Guarantee and Collateral Agreement and the Canadian Guarantors under the other Security Documents in respect thereof, as the case may be, as provided in any Subordinated Debt
Indenture or any other relevant document, or any Loan Party, the trustee in respect of any Subordinated Debt or the holders of at least 25% in aggregate principal amount of such Subordinated Debt shall so assert in writing; 

then, and in any such event, (A) if such event is an Event of Default specified in clause (i) or (ii) of paragraph (f) above with
respect to any Borrower, automatically the Commitments shall immediately terminate and the Loans hereunder (with accrued interest thereon) and all other amounts owing under this Agreement and the other Loan Documents (including all amounts of L/C
Obligations, whether or not the beneficiaries of the then outstanding Letters of Credit shall have presented the documents required thereunder) shall immediately become due and payable, and (B) if such event is any other Event of Default,
either or both of the following actions may be taken: (i) with the consent of the Required Lenders, the Administrative Agent may, or upon the request of the Required Lenders, the Administrative Agent shall, by notice to the U.S. Borrower and
the Canadian Borrower declare the Revolving Commitments to be terminated forthwith, whereupon the Revolving Commitments shall immediately terminate; and (ii) with the consent of the Required Lenders, the Administrative Agent may, or upon the
request of the Required Lenders, the Administrative Agent shall, by notice to each Borrower, declare the Loans hereunder (with accrued interest thereon) and all other amounts owing under this Agreement and the other Loan Documents (including all
amounts of L/C Obligations, whether or not the beneficiaries of the then outstanding Letters of Credit shall have presented the documents required thereunder) to be due and payable forthwith, whereupon the same shall immediately become due and
payable. With respect to all Letters of Credit with respect to which presentment for honor shall not have occurred at the time of an acceleration pursuant to this paragraph, the U.S. Borrower and the

  
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Canadian Borrower shall at such time deposit in an interest bearing cash collateral account opened by the Administrative Agent an amount equal to the aggregate then undrawn and unexpired amount
of such Letters of Credit, with interest accruing thereon at the Administrative Agent’s prevailing rates for deposits of comparable amount, currency and term. Amounts held in such cash collateral account shall be applied by the Administrative
Agent to the payment of drafts drawn under such Letters of Credit, and the unused portion thereof after all such Letters of Credit shall have expired or been fully drawn upon, if any, shall be applied to repay other obligations of the U.S. Borrower
and the Canadian Borrower hereunder and under the other Loan Documents and any Specified Agreements. After all such Letters of Credit shall have expired or been fully drawn upon, all Reimbursement Obligations shall have been satisfied and all other
obligations of the U.S. Borrower and the Canadian Borrower hereunder and under the other Loan Documents and any Specified Agreements shall have been paid in full, the balance, if any, in such cash collateral account shall be returned to Cedar Fair
LP (or such other Person as may be lawfully entitled thereto). Except as expressly provided above in this Section, presentment, demand, protest and all other notices of any kind are hereby expressly waived by the Borrowers. 

SECTION 10. THE AGENTS 
 10.1. Appointment. Each Lender (and, if applicable, each other Secured Party) hereby irrevocably designates and appoints each Agent as the agent of such Lender (and, if applicable, each other
Secured Party) under this Agreement and the other Loan Documents, and each such Lender irrevocably authorizes such Agent, in such capacity, to take such action on its behalf under the provisions of this Agreement and the other Loan Documents and to
exercise such powers and perform such duties as are expressly delegated to such Agent by the terms of this Agreement and the other Loan Documents, together with such other powers as are reasonably incidental thereto. Notwithstanding any provision to
the contrary elsewhere in this Agreement, no Agent shall have any duties or responsibilities, except those expressly set forth herein, or any fiduciary relationship with any Lender or other Secured Party, and no implied covenants, functions,
responsibilities, duties, obligations or liabilities shall be read into this Agreement or any other Loan Document or otherwise exist against any Agent. 
 10.2. Delegation of Duties. Each Agent may execute any of its duties under this Agreement and the other Loan Documents by or through agents or attorneys in fact and shall be entitled to advice of
counsel concerning all matters pertaining to such duties. No Agent shall be responsible for the negligence or misconduct of any agents or attorneys in fact selected by it with reasonable care. 

10.3. Exculpatory Provisions. Neither any Agent nor any of their respective officers, directors, employees, agents, attorneys in
fact or affiliates shall be (i) liable for any action lawfully taken or omitted to be taken by it or such Person under or in connection with this Agreement or any other Loan Document (except to the extent that any of the foregoing are found by
a final and non-appealable decision of a court of competent jurisdiction to have resulted from its or such Person’s own gross negligence or willful misconduct) or (ii) responsible in any manner to any of the Lenders or any other Secured
Party for any recitals, statements, representations or warranties made by any Loan Party or any officer thereof contained in this Agreement or any other Loan Document or any Specified Agreement or in any certificate, report, statement or other
document referred to or provided for in, or received by the Agents under or in connection with, this Agreement or any other Loan Document or any Specified Agreement or for the value, validity, effectiveness, genuineness, enforceability or
sufficiency of this Agreement or any other Loan Document or any Specified Agreement or for any failure of any Loan Party a party thereto to perform its obligations hereunder or thereunder. The Agents shall not be under any obligation to any Lender
to ascertain or to inquire as to the observance or performance of any of the agreements contained in, or conditions of, this Agreement or any other Loan Document or any Specified Agreement, or to inspect the properties, books or records of any Loan
Party. 
 10.4. Reliance by Agents. Each Agent shall be entitled to rely, and shall be fully protected in relying, upon
any instrument, writing, resolution, notice, consent, certificate, affidavit, letter, telecopy, telex or teletype message, statement, order or other document or conversation believed by it to be genuine and correct and to have been signed, sent or
made by the proper Person or Persons and upon advice and statements of legal counsel (including counsel to the Borrowers), independent accountants and other experts selected by such Agent. The Administrative Agent may deem and treat the payee of any
Note as the owner thereof for all purposes unless a written notice of assignment, negotiation or transfer thereof shall have been filed with the Administrative Agent. Each Agent shall be fully justified in failing or refusing to take any action
under this Agreement or any other Loan Document unless it shall first receive such advice or concurrence of the Required Lenders (or, if so specified by this Agreement, all 

  
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Lenders) as it deems appropriate or it shall first be indemnified to its satisfaction by the Lenders against any and all liability and expense that may be incurred by it by reason of taking or
continuing to take any such action. The Agents shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement and the other Loan Documents in accordance with a request of the Required Lenders (or, if so specified
by this Agreement, all Lenders), and such request and any action taken or failure to act pursuant thereto shall be binding upon all the Lenders and all future holders of the Loans and all other Secured Parties. 

10.5. Notice of Default. No Agent shall be deemed to have knowledge or notice of the occurrence of any Default or Event of Default
hereunder unless such Agent has received notice from a Lender or Cedar Fair LP referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default”. In the event that the
Administrative Agent receives such a notice, the Administrative Agent shall give notice thereof to the Lenders. The Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the
Required Lenders (or, if so specified by this Agreement, all Lenders or any other instructing group of Lenders specified by this Agreement); provided that unless and until the Administrative Agent shall have received such directions, the
Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable in the best interests of the Secured Parties. 

10.6. Non-Reliance on Agents and Other Lenders. Each Lender (and, if applicable, each other Secured Party) expressly acknowledges
that neither the Agents nor any of their respective officers, directors, employees, agents, attorneys in fact or affiliates have made any representations or warranties to it and that no act by any Agent hereafter taken, including any review of the
affairs of a Loan Party or any affiliate of a Loan Party, shall be deemed to constitute any representation or warranty by any Agent to any Lender or any other Secured Party. Each Lender (and, if applicable, each other Secured Party) represents to
the Agents that it has, independently and without reliance upon any Agent or any other Lender or any other Secured Party, and based on such documents and information as it has deemed appropriate, made its own appraisal of and investigation into the
business, operations, property, financial and other condition and creditworthiness of the Loan Parties and their affiliates and made its own decision to make its Loans hereunder and enter into this Agreement or any Specified Agreement. Each Lender
(and, if applicable, each other Secured Party) also represents that it will, independently and without reliance upon any Agent or any other Lender or any other Secured Party, and based on such documents and information as it shall deem appropriate
at the time, continue to make its own credit analysis, appraisals and decisions in taking or not taking action under this Agreement and the other Loan Documents or any Specified Agreement, and to make such investigation as it deems necessary to
inform itself as to the business, operations, property, financial and other condition and creditworthiness of the Loan Parties and their affiliates. Except for notices, reports and other documents expressly required to be furnished to the Lenders by
the Administrative Agent hereunder, the Administrative Agent shall not have any duty or responsibility to provide any Lender or any other Secured Party with any credit or other information concerning the business, operations, property, condition
(financial or otherwise), prospects or creditworthiness of any Group Member or any affiliate of a Group Member that may come into the possession of the Administrative Agent or any of its officers, directors, employees, agents, attorneys in fact or
affiliates. The Administrative Agent shall not have any duty or responsibility to provide any Lender or any other Secured Party with any credit or other information concerning the business, operations, property, condition (financial or otherwise),
prospects or creditworthiness of any Group Member or any affiliate of a Group Member that may come into the possession of the Administrative Agent or any of its officers, directors, employees, agents, attorneys in fact or affiliates. 

10.7. Indemnification. The Lenders agree to indemnify each Agent in its capacity as such (to the extent not reimbursed by the
Borrowers and without limiting the obligation of the Borrowers to do so), ratably according to their respective Aggregate Exposure Percentages in effect on the date on which indemnification is sought under this Section (or, if indemnification is
sought after the date upon which the Commitments shall have terminated and the Loans shall have been paid in full, ratably in accordance with such Aggregate Exposure Percentages immediately prior to such date), from and against any and all
liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements of any kind whatsoever that may at any time (whether before or after the payment of the Loans) be imposed on, incurred by or asserted
against such Agent in any way relating to or arising out of, the Commitments, this Agreement, any of the other Loan Documents, any Specified Agreement or any documents contemplated by or referred to herein or therein or the transactions contemplated
hereby or thereby or any action taken or omitted by such Agent under or in connection with any of the foregoing; provided that no Lender shall be liable for the payment of any portion of such liabilities, obligations, losses, damages,
penalties, actions, 

  
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judgments, suits, costs, expenses or disbursements that are found by a final and non-appealable decision of a court of competent jurisdiction to have resulted from such Agent’s gross
negligence or willful misconduct. 
 10.8. Withholding Tax. To the extent required by any applicable law, the
Administrative Agent may withhold from any payment to any Lender an amount equivalent to any applicable withholding tax. Without limiting or expanding the provisions of Section 4.10, each Lender (which shall include any Issuing Lender for
purposes of this Section 10.8) shall, and does hereby, indemnify the Administrative Agent against, and shall make payable in respect thereof within thirty (30) days after demand therefor, any and all Taxes and any and all related losses,
claims, liabilities and expenses (including fees, charges and disbursements of any counsel for the Administrative Agent) incurred by or asserted against the Administrative Agent by the Internal Revenue Service or any other Governmental Authority as
a result of the failure of the Administrative Agent to properly withhold tax from amounts paid to or for the account of such Lender for any reason (including, without limitation, because the appropriate form was not delivered or not properly
executed, or because such Lender failed to notify the Administrative Agent of a change in circumstance that rendered the exemption from, or reduction of, withholding tax ineffective. 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 this Agreement or
any other Loan Document against any amount due the Administrative Agent under this 10.8. The agreements in this Section 10.8 shall survive the resignation and/or replacement of the Administrative Agent, any assignment of rights by, or the
replacement of, a Lender, the termination of the Commitments and the repayment, satisfaction or discharge of all other Obligations. 
 10.9. Agent in Its Individual Capacity. Each Agent and its affiliates may make loans to, accept deposits from and generally engage in any kind of business with any Loan Party as though such Agent
were not an Agent. With respect to its Loans made or renewed by it and with respect to any Letter of Credit issued or participated in by it, each Agent shall have the same rights and powers under this Agreement and the other Loan Documents as any
Lender and may exercise the same as though it were not an Agent, and the terms “Lender”, “Lenders”, “Secured Party” and “Secured Parties” shall include each Agent in its individual capacity. 

10.10. Successor Administrative Agent. The Administrative Agent may resign as Administrative Agent upon 10 days’ notice to
the Lenders and Cedar Fair LP. If the Administrative Agent shall resign as Administrative Agent under this Agreement and the other Loan Documents, then the Required Lenders shall appoint from among the Secured Parties a successor agent for the
Lenders, which successor agent shall (unless an Event of Default under Section 9(a) or Section 9(f) with respect to any Borrower shall have occurred and be continuing) be subject to approval by Cedar Fair LP (which approval shall not be
unreasonably withheld or delayed), whereupon such successor agent shall succeed to the rights, powers and duties of the Administrative Agent, and the term “Administrative Agent” shall mean such successor agent effective upon such
appointment and approval, and the former Administrative Agent’s rights, powers and duties as Administrative Agent shall be terminated, without any other or further act or deed on the part of such former Administrative Agent or any of the
parties to this Agreement or any holders of the Loans. If no successor agent has accepted appointment as Administrative Agent by the date that is 10 days following a retiring Administrative Agent’s notice of resignation, the retiring
Administrative Agent’s resignation shall nevertheless thereupon become effective and the Lenders shall assume and perform all of the duties of the Administrative Agent hereunder until such time, if any, as the Required Lenders appoint a
successor agent as provided for above. Any Co-Syndication Agent may, at any time, by notice to the Lenders and the Administrative Agent, resign as Co-Syndication Agent hereunder, whereupon the duties, rights, obligations and responsibilities of the
Co-Syndication Agent hereunder shall automatically be assumed by, and inure to the benefit of, the remaining Co-Syndication Agents or if there are no remaining Co-Syndication Agents, the Administrative Agent (or, if there is no Administrative Agent
at such time, to the Lenders as contemplated by the preceding sentence), without any further act by such Co-Syndication Agent, the Administrative Agent or any Lender. After any retiring Administrative Agent’s (or Co-Syndication Agent’s)
resignation as Administrative Agent (or Co-Syndication Agent), the provisions of this Section 10 shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Administrative Agent (or Co-Syndication Agent) under
this Agreement and the other Loan Documents. 
 10.11. Agents Generally. Except as expressly set forth herein, no Agent
shall have any duties or responsibilities hereunder in its capacity as such. 

  
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 10.12. The Lead Arrangers. The Lead Arrangers in their capacity as such, shall have
no duties or responsibilities, and shall incur no liability, under this Agreement and other Loan Documents. 
 10.13. No
Reliance on Administrative Agent’s Customer Identification Program. Each Lender acknowledges and agrees that neither such Lender, nor any of its Affiliates, participants or assignees, may rely on the Administrative Agent to carry out such
Lender’s or its Affiliates, participant’s or assignee’s customer identification program, or other obligations required or imposed under or pursuant to the USA Patriot Act or the regulations thereunder, including the regulations
contained in 31 CFR 103.121 (as hereafter amended or replaced, the “CIP Regulations”), or any other Anti Terrorism Law, including any programs involving any of the following items relating to or in connection with the Borrowers, their
Affiliates or agents, the Loan Documents or the transactions hereunder: (1) any identity verification procedures, (2) any record keeping, (3) any comparisons with government lists, (4) any customer notices or (5) any other
procedures required under the CIP Regulations or such other laws. 
 10.14. USA Patriot Act. Each lender or assignee or
participant of a Lender that is not incorporated under the laws of the United States of America or a state thereof (and is not excepted from the certification requirement contained in Section 313 of the USA Patriot Act and the applicable
regulations because it is both (i) an affiliate of a depository institution or foreign bank that maintains a physical presence in the United States, and (ii) subject to supervision by a banking authority regulating such affiliated
depository institution or foreign bank) shall deliver to the Administrative Agent the certification, or, if applicable, recertification, certifying that such Lender is not a “shell” and certifying to other matters as required by
Section 313 of the USA Patriot Act and the applicable regulations: (1) within ten (10) days after the Closing Date and (2) at such other times as are required under the USA Patriot Act. Each Lender hereby notifies each Loan Party
that pursuant to the requirements of the USA Patriot Act, it is required to obtain, verify and record information that identifies Loan Parties, which information includes the name and address of each Loan Party and other information that will allow
the Lenders to identify such Loan Party in accordance with the USA Patriot Act. 
 SECTION 11. MISCELLANEOUS 

11.1. Amendments and Waivers. Neither this Agreement, any other Loan Document, nor any terms hereof or thereof may be amended,
supplemented or modified except in accordance with the provisions of this Section 11.1. The Required Lenders and each Loan Party party to the relevant Loan Document may, or, with the written consent of the Required Lenders, the Administrative
Agent and each Loan Party party to the relevant Loan Document may, from time to time, (a) enter into written amendments, supplements or modifications hereto and to the other Loan Documents for the purpose of adding any provisions to this
Agreement or the other Loan Documents or changing in any manner the rights of the Lenders or of the Loan Parties hereunder or thereunder or (b) waive, on such terms and conditions as the Required Lenders or the Administrative Agent, as the case
may be, may specify in such instrument, any of the requirements of this Agreement or the other Loan Documents or any Default or Event of Default and its consequences; provided, however, that no such waiver and no such amendment,
supplement or modification shall (i) forgive the principal amount or extend the final scheduled date of maturity of any Loan, extend the scheduled date or reduce the amount of any amortization payment in respect of any Term Loan under
Section 2.3, reduce the stated rate of any interest or fee payable hereunder (except (x) in connection with the waiver of applicability of any post default increase in interest rates, which waiver shall be effective with the consent of the
Majority Facility Lenders of each adversely affected Facility and (y) that any amendment or modification of defined terms used in the financial covenants in this Agreement shall not constitute a reduction in the rate of interest or fees for
purposes of this clause (i)) or extend the scheduled date of any payment thereof, or increase the amount or extend the expiration date of any Lender’s Revolving Commitment, in each case without the written consent of each Lender directly
affected thereby; (ii) eliminate or reduce the voting rights of any Lender under this Section 11.1 without the written consent of such Lender; (iii) reduce any percentage specified in the definition of “Required Lenders”,
consent to the assignment or transfer by any Borrower of any of its rights and obligations under this Agreement and the other Loan Documents, release all or substantially all of the Collateral or release all or substantially all the Subsidiary
Guarantors (other than the Canadian Borrower or U.S. Co-Borrower) from their obligations under the Guarantee and Collateral Agreement (other than as otherwise permitted hereby or thereby), in each case without the written consent of all Lenders;
(iv) reduce the percentage specified in the definition of “Majority Facility Lenders” with respect to any Facility without the written consent of all Lenders under such Facility; (v) amend, modify or waive any provision of
Section 10 without the written consent of each Agent adversely affected thereby; (vi) amend, modify or waive any provision of Section 3.3, 3.4 or 4.16 without the written consent of each Swing Line Lender; (vii)

  
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amend, modify or waive any provision of Sections 3.7 to 3.14 or 4.16 without the written consent of each Issuing Lender; (viii)alter the order of application of any mandatory prepayment to any
Facility, without the written consent of the Majority Facility Lenders under each such Facility receiving a lesser prepayment; (ix) amend, modify or waive any Loan Document so as to alter the ratable treatment of the Grantor Hedge Agreement
Obligations (as defined in the Guarantee and Collateral Agreement), Grantor Cash Management Obligations (as defined in the Guarantee and Collateral Agreement) and the Borrower Credit Agreement Obligations in a manner adverse to any Qualified
Counterparty with Obligations then outstanding without the written consent of any such Qualified Counterparty or (x) amend, modify or waive any Loan Document, including Section 4.8, so as to alter the pro rata treatment of borrowings and
payments hereunder following the occurrence and during the continuance of an Event of Default without the consent of each Lender adversely affected thereby. Any such waiver and any such amendment, supplement or modification shall apply equally to
each of the Lenders and shall be binding upon the Loan Parties, the Lenders, the Agents and all future holders of the Loans. In the case of any waiver, the Loan Parties, the Lenders and the Agents shall be restored to their former position and
rights hereunder and under the other Loan Documents, and any Default or Event of Default waived shall be deemed to be cured and not continuing for the period of such waiver; but no such waiver shall extend to any subsequent or other Default or Event
of Default, or impair any right consequent thereon. Notwithstanding anything to the contrary herein, no Defaulting Lender shall have any right to approve or disapprove any amendment, waiver or consent hereunder, except to the extent the consent of
such Lender would be required under clause (i) in the proviso to the first sentence of this Section 11.1. 

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 Borrowers (a) to add one or more additional credit facilities to this Agreement and to permit the extensions of credit from time to time outstanding thereunder and the accrued interest and fees in respect
thereof (collectively, the “Additional Extensions of Credit”) to share ratably in the benefits of this Agreement and the other Loan Documents with the Term Loans and Revolving Extensions of Credit and the accrued interest and fees
in respect thereof and (b) to include appropriately the Lenders holding such credit facilities in any determination of the Required Lenders and Majority Facility Lenders; provided that no such amendment shall permit the Additional
Extensions of Credit to (x) share with preference to the Term Loans under the U.S. Term-1 Facility in the application of mandatory prepayments without the consent of the Majority Facility Lenders under the U.S. Term-1 Facility or (y) share
with preference to the Term Loans under any other Facility in the application of mandatory prepayments without the consent of the Majority Facility Lenders. 
 Notwithstanding the foregoing, technical and conforming modifications to the Loan Documents may be made with the consent of the applicable Borrower and the Administrative Agent to the extent necessary to
integrate any Incremental Term Loans, any Refinancing Term Loans, any Extended Term Loans or any Replacement Revolving Commitments on substantially the same basis as the Term Loans or Revolving Loans, as applicable. 

Cedar Fair LP shall be permitted to replace any Lender that fails to consent to any amendment, waiver or consent to any Loan Document
requested by a Borrower in respect of which the consent of all (or all affected) Lenders or all Lenders under a particular Facility is required, and supported by, as applicable, the Required Lenders or the Majority Facility Lenders, with a
replacement financial institution; provided that (i) no later than thirty (30) days after the date on which the consent of as applicable, the Required Lenders or the Majority Facility Lenders was obtained with respect to such
amendment, waiver or consent, Cedar Fair LP shall notify the Lender of Cedar Fair LP’s intention to replace such Lender, (ii) such replacement does not conflict with any applicable Requirement of Law, (iii) the replacement financial
institution shall purchase, at par, all Loans and other amounts owing to such replaced Lender on or prior to the date of replacement, (iv) the Borrowers shall be liable to such replaced Lender under Section 4.11 if any Eurodollar Loan or
BA Loan owing to such replaced Lender shall be purchased other than on the last day of the Interest Period relating thereto, (v) the replacement financial institution, if not already a Lender, shall be approved by the Administrative Agent and,
if such replaced Lender is a Revolving Lender, approved by the applicable Issuing Lender and Swing Line Lender (which approvals shall not be withheld or delayed unreasonably), (vi) the replaced Lender and the replacement financial institution
shall be obligated to effect such replacement in accordance with the provisions of Section 11.6 (provided that the Administrative Agent agrees to waive the processing and recordation fee referred to therein in respect of a replacement
pursuant to this paragraph of Section 11.1), (vii) until such time as such replacement shall be consummated, the applicable Borrower shall pay all additional amounts (if any) required pursuant to Section 4.9 or 4.10, as the case may
be, (viii) any such replacement shall not be deemed to be a waiver of any rights that (A) any Borrower, the Administrative Agent or any other Lender shall have against the replaced Lender or (B) the replaced Lender shall have against
any Borrower, the Administrative 

  
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Agent or any other Lender, (ix) the provisions of Section 11.5 shall continue to benefit the replaced Lender, and (x) the replacement financial institution has agreed to the
respective amendment, waiver or consent in connection with such replacement. 
 11.2. Notices. All notices, requests and
demands to or upon the respective parties hereto to be effective shall be in writing (including by telecopy), and, unless otherwise expressly provided herein, shall be deemed to have been duly given or made when delivered, or three Business Days
after being deposited in the mail, postage prepaid, or, in the case of telecopy notice, when received, addressed as set forth below in the case of the Borrowers and the Administrative Agent, and as set forth in an administrative questionnaire
delivered to the Administrative Agent in the case of the Lenders, or to such other address as may be hereafter notified by the respective parties hereto; provided that any notice, request or demand to or upon any Agent, any Issuing Lender or
the Lenders shall not be effective until received. 
  

			
	 The Borrowers:
	  	 c/o Cedar Fair, L.P.
 One Cedar
Point Drive
 Sandusky, Ohio 44870

Attention: Chief Financial Officer
 Telecopy:
 (419) 627-2377
 Telephone: (419) 627-2295

		
	 The Administrative Agent:
	  	For U.S. Dollars:
		
		  	 JPMorgan Chase Bank, N.A.
 Loan
and Agency Services Group
 1111 Fannin Street, Floor 10
 Houston, Texas 77002
 Attention of Talitha Bernard

Telecopy No. (713) 750-2878
  

For Canadian Dollars:
  
 JPMorgan Chase Bank, N.A.
 Loan and Agency Services Group

1111 Fannin Street, Floor 10
 Houston, Texas
77002
 Attention of Siraz Maknojia

Email: siraz.x.maknojia@jpmorgan.com
 Telecopy
No. (713) 374-4312

		
	 U.S. Issuing Lender:
	  	 JPMorgan Chase Bank, N.A.

Global Trade Services
 10420 Highland Manor
Drive,
 Floor 10 Tampa, FL 33610-9128

Attention of James Alonzo
 Email:
James.Alonzo@jpmchase.com
 Telecopy No. (813) 432-5161

  
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	 Canadian Issuing Lender:
	  	 JPMorgan Chase Bank, N.A.

Toronto Branch
 Royal Bank Plaza, South
Tower
 200 Bay Street, Suite 1800

Toronto, Ontario. M5J 2J3
 Attention of Jennifer
McLaughlin
 Global Trade Services

Email: Jennifer.l.mclaughlin@jpmorgan.com

Telephone: 416-981-2324 or 416-981-9200
 Telecopy
No.: 416-981-2375

		
	 with a copy to:
	  	 JPMorgan Chase Bank, N.A.

383 Madison Ave., Floor 24
 New York, New York
10179
 Attention of Christophe Vohmann

Email: christophe.vohmann@jpmorgan.com
 Telecopy
No. (212) 270-4584

 Notices and other communications to the Lenders hereunder may be delivered or
furnished by electronic communications pursuant to procedures approved by the Administrative Agent; provided that the foregoing shall not apply to notices involving a Lender pursuant to Section 2 unless otherwise agreed by the
Administrative Agent and the applicable Lender. The Administrative Agent or Cedar Fair LP may, in its discretion, agree to accept notices and other communications to it hereunder by electronic communications pursuant to procedures approved by it;
provided that approval of such procedures may be limited to particular notices or communications. 
 11.3. No Waiver;
Cumulative Remedies. No failure to exercise and no delay in exercising, on the part of any Agent or any Lender, any right, remedy, power or privilege hereunder or under the other Loan Documents shall operate as a waiver thereof; nor shall any
single or partial exercise of any right, remedy, power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege. The rights, remedies, powers and privileges herein provided
are cumulative and not exclusive of any rights, remedies, powers and privileges provided by law. 
 11.4. Survival of
Representations and Warranties. All representations and warranties made hereunder, in the other Loan Documents and in any document, certificate or statement delivered pursuant hereto or in connection herewith shall survive the execution and
delivery of this Agreement and the making of the Loans and other extensions of credit hereunder. 
 11.5. Payment of
Expenses. Each Borrower agrees (a) to pay or reimburse each Agent for all its reasonable out of pocket costs and expenses incurred in connection with the development, preparation and execution of, and any amendment, supplement or
modification to, this Agreement and the other Loan Documents and any other documents prepared in connection herewith or therewith, and the consummation and administration of the transactions contemplated hereby and thereby, including the reasonable
fees and disbursements of counsel to such Agent and filing and recording fees and expenses, with statements with respect to the foregoing to be submitted to Cedar Fair LP on or prior to the Closing Date (in the case of amounts to be paid on the
Closing Date) and from time to time thereafter on a monthly basis or such other periodic basis as such Agent shall deem appropriate, (b) to pay or reimburse each Lender and Agent for all its costs and expenses incurred in connection with the
enforcement or preservation of any rights under this Agreement (including in any work-out or restructuring), the other Loan Documents and any such other documents, including the fees and disbursements of counsel (including the allocated fees and
expenses of in house counsel) to each Lender and of counsel to such Agent and (c) to pay, indemnify, and hold each Lender and Agent and their respective officers, directors, employees, affiliates, agents, advisors, trustees and controlling
persons (each, an “Indemnitee”) harmless from and against any and all other liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements of any kind or nature whatsoever
with respect to the execution, delivery, enforcement, performance and administration of this Agreement, the other Loan Documents (regardless of whether any Loan Party is or is not a party to any such actions or suits) and any such other documents,
including any of the foregoing relating to the use of proceeds of the Loans or the violation of, non- 

  
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compliance with or liability under, any Environmental Law applicable to the operations of any Group Member or any of the Properties and the reasonable fees and expenses of legal counsel in
connection with claims, actions or proceedings by any Indemnitee against any Loan Party under any Loan Document (all the foregoing in this clause (c), collectively, the “Indemnified Liabilities”), provided that the Borrowers
shall have no obligation hereunder to any Indemnitee with respect to Indemnified Liabilities to the extent such Indemnified Liabilities are found by a final and non-appealable decision of a court of competent jurisdiction to have resulted from the
gross negligence or willful misconduct of such Indemnitee. Without limiting the foregoing, and to the extent permitted by applicable law, each Borrower agrees not to assert and to cause its Subsidiaries not to assert, and hereby waives and agrees to
cause its Subsidiaries to waive, all rights for contribution or any other rights of recovery with respect to all claims, demands, penalties, fines, liabilities, settlements, damages, costs and expenses of whatever kind or nature, under or related to
Environmental Laws, that any of them might have by statute or otherwise against any Indemnitee. All amounts due under this Section 11.5 shall be payable not later than 10 days after written demand therefor. Statements payable by the Borrowers
pursuant to this Section 11.5 shall be submitted to the Chief Financial Officer (Telephone no. (419) 627 2295) (Telecopy no. (419) 627 2377), at the address of the Borrowers set forth in Section 11.2, or to such other Person or
address as may be hereafter designated by Cedar Fair LP in a written notice to the Administrative Agent. The agreements in this Section 11.5 shall survive repayment of the Loans and all other amounts payable hereunder. 

11.6. Successors and Assigns; Participations and Assignments. 

(a) The provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their
respective successors and assigns permitted hereby (including any affiliate of any Issuing Lender that issues any Letter of Credit), except that (i) no Borrower may assign or otherwise transfer any of its rights or obligations hereunder without
the prior written consent of each Lender (and any attempted assignment or transfer by any such Borrower without such consent shall be null and void) and (ii) no Lender may assign or otherwise transfer its rights or obligations hereunder except
in accordance with this Section. 
 (b)(i) Subject to the conditions set forth in paragraph (b)(ii) below, any
Lender may assign to one or more assignees (each, an “Assignee”) all or a portion of its rights and obligations under this Agreement (including all or a portion of its Commitments and the Loans at the time owing to it) with the
prior written consent (such consent not to be unreasonably withheld or delayed) of: 
 (A) Cedar Fair LP;
provided that no consent of Cedar Fair LP shall be required for an assignment to a Lender, an affiliate of a Lender, an Approved Fund (as defined below) or, if an Event of Default specified in paragraph (a) or clause (i) or
(ii) of paragraph (f) under Article 9 has occurred and is continuing, any other Person; provided further that Cedar Fair LP shall be deemed to have consented to any assignment unless it shall object thereto by written notice
to the Administrative Agent within five (5) Business Days after having received notice thereof; and 
 (B)
the Administrative Agent; provided that no consent of the Administrative Agent shall be required for (x) an assignment to an Assignee that is a Lender immediately prior to giving effect to such assignment, except in the case of an
assignment of a Revolving Commitment or (y) any assignment by the Administrative Agent (or its affiliates); and 
 (C) in the case of any assignment of a Revolving Commitment, the applicable Issuing Lender and the applicable Swing Line Lender. 
 (ii) Assignments shall be subject to the following additional conditions: 
 (A) except in the case of an assignment to a Lender, an affiliate of a Lender or an Approved Fund or an assignment of the entire remaining amount of the assigning Lender’s Commitments or Loans under
any Facility, the amount of the Commitments or Loans of the assigning Lender subject to each such assignment (determined as of the date the Assignment and Assumption with respect to such assignment is delivered to the Administrative Agent) shall not
be less than $2,500,000 (or, in the case of Term Loans, $1,000,000) unless each of Cedar Fair LP and the Administrative Agent otherwise consent; provided that 

  
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(1) no such consent of Cedar Fair LP shall be required if an Event of Default has occurred and is continuing and (2) such amounts shall be aggregated in respect of each Lender and its
affiliates or Approved Funds, if any; 
 (B) the parties to each assignment shall execute and deliver to the
Administrative Agent an Assignment and Assumption, together with a processing and recordation fee of $3,500 payable to the Administrative Agent; 
 (C) the Assignee, if it shall not be a Lender, shall deliver to the Administrative Agent an administrative questionnaire; 

(D) in the case of an assignment to a CLO (as defined below) managed by such Lender or an affiliate of such Lender, the
assigning Lender shall retain the sole right to approve any amendment, modification or waiver of any provision of this Agreement and the other Loan Documents; provided that the Assignment and Assumption between such Lender and such CLO may
provide that such Lender will not, without the consent of such CLO, agree to any amendment, modification or waiver that (1) requires the consent of each Lender directly affected thereby pursuant to the proviso to the second sentence of
Section 11.1 and (2) directly affects such CLO; and 
 (E) in no event shall any such assignment be
made to a Person that, directly or indirectly, is primarily engaged in the ownership or operation of amusement parks, water parks, theme parks or other similar properties, or to the U.S. Borrower or any of its Affiliates. 

For the purposes of this Section 11.6, the terms “Approved Fund” and “CLO” have the following
meanings: 
 “Approved Fund” means (a) as to any Lender, a CLO managed by such Lender or an affiliate of
such Lender and (b) with respect to any Lender that is a fund which invests in bank loans and similar extensions of credit, any other fund that invests in bank loans and similar extensions of credit and is managed by the same investment manager
or advisor as such Lender or by an affiliate of such investment manager or advisor. 
 “CLO” means any entity
(whether a corporation, partnership, trust or otherwise) that is engaged in making, purchasing, holding or otherwise investing in bank loans and similar extensions of credit in the ordinary course and is administered or managed by a Lender or an
affiliate of such Lender. 
 (iii) Subject to acceptance and recording thereof pursuant to paragraph (b)(iv) below, from and
after the effective date specified in each Assignment and Assumption the Assignee thereunder shall be a party hereto and, to the extent of the interest assigned by such Assignment and Assumption, have the rights and obligations of a Lender under
this Agreement, and the assigning Lender thereunder shall, to the extent of the interest assigned by such Assignment and Assumption, be released from its obligations under this Agreement (and, in the case of an Assignment and Assumption covering all
of the assigning Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto but shall continue to be entitled to the benefits of Sections 4.9, 4.10, 4.11 and 11.5); provided that nothing in this
Section 11.6 shall be construed as (y) creating any new Loan or other Obligation and shall not constitute a novation of such Loan or other Obligation or (z) constitute or require the repayment and/or re-advance of any principal of any
Loan or other Indebtedness, it being the intention of the parties that only an assignment of Obligations held by, and of the rights and obligations of, a Lender are contemplated hereby, which Obligations shall continue to be the same, and not new,
Obligations. Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this Section 11.6 shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such
rights and obligations in accordance with paragraph (c) of this Section. 
 (iv) The Administrative Agent, acting for this
purpose as an agent of the U.S. Borrower shall maintain at one of their respective offices a copy of each Assignment and Assumption delivered to it and a register for the recordation of the names and addresses of the Lenders, and the Commitments of,
and principal amount of the Loans and L/C Obligations owing to, each Lender under the Facility for which it has been appointed agent pursuant to the 

  
 -101-

 
terms hereof from time to time (the “Register”). The entries in the Register shall be conclusive, and the Borrowers, the Administrative Agent, the Issuing Lenders and the Lenders
shall treat each Person whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement, notwithstanding notice to the contrary. 

(v) Upon its receipt of a duly completed Assignment and Assumption executed by an assigning Lender and an Assignee, the Assignee’s
completed administrative questionnaire (unless the Assignee shall already be a Lender hereunder), the processing and recordation fee referred to in paragraph (b) of this Section and any written consent to such assignment required by paragraph
(b) of this Section, the Administrative Agent shall accept such Assignment and Assumption and record the information contained therein in the Register. No assignment shall be effective for purposes of this Agreement unless it has been recorded
in the Register as provided in this paragraph. The Register shall be available for inspection by any Borrower, the Administrative Agent or any Lender (but only to the extent that such Lender may inspect the name and address of such Lender and the
Commitments and principal amount of Loans and L/C Obligations owing to such Lender as recorded in the Register) at any reasonable time and from time to time upon reasonable prior notice. 

(c) (i) Any Lender may, without the consent of the Borrowers or the Administrative Agent, sell participations to one or
more banks or other entities (other than natural Persons, the U.S. Borrower or any of its Affiliates) (a “Participant”) in all or a portion of such Lender’s rights and obligations under this Agreement (including all or a
portion of its Commitments and the Loans owing to it); provided that (A) such Lender’s obligations under this Agreement shall remain unchanged, (B) such Lender shall remain solely responsible to the other parties hereto for the
performance of such obligations, (C) the Borrowers, the Administrative Agent, the Issuing Lenders and the other Lenders shall continue to deal solely and directly with such Lender in connection with such Lender’s rights and obligations
under this Agreement, (D) no portion of a Canadian Revolving Commitment or Replacement Revolving Commitment of the Canadian Borrower or the U.S. Borrower shall be made subject to a participation to a Person that would not receive payments
thereunder free and clear of Canadian non-resident withholding tax without the consent of the Canadian Borrower or the U.S. Borrower unless such participation is made on or after an Event of Default has occurred and is continuing and (E) in no
event shall any such participation be sold to a Person that, directly or indirectly, is primarily engaged in the ownership or operation of amusement parks, water parks, theme parks or other similar properties. Any agreement pursuant to which a
Lender sells such a participation shall provide that such Lender shall retain the sole right to enforce this Agreement and to approve any amendment, modification or waiver of any provision of this Agreement; provided that such agreement may
provide that such Lender will not, without the consent of the Participant, agree to any amendment, modification or waiver that (1) requires the consent of each Lender directly affected thereby pursuant to the proviso to the second sentence of
Section 11.1 and (2) directly affects such Participant. Subject to paragraph (c)(ii) of this Section, the Borrowers agree that each Participant shall be entitled to the benefits of Sections 4.9, 4.10 and 4.11 to the same extent (subject to
the requirements and limitations therein, including the requirements to provide the documentation under Section 4.10(e)) as if it were a Lender and had acquired its interest by assignment pursuant to paragraph (b) of this Section. To the
extent permitted by law, each Participant also shall be entitled to the benefits of Section 11.7(b) as though it were a Lender, provided such Participant shall be subject to Section 11.7(a) 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 Borrowers, maintain a register on which it enters the name and address of each Participant and the principal amounts (and stated interest) of each
participant’s interest in the Loans or other obligations under this Agreement (the “Participant Register”). The entries in the Participant Register shall be conclusive and such Lender shall treat each person whose name is
recorded in the Participant Register as the owner of such participation for all purposes of this Agreement notwithstanding any notice to the contrary. 
 (ii) A Participant shall not be entitled to receive any greater payment under Section 4.9 or 4.10 than the applicable Lender would have been entitled to receive with respect to the participation sold
to such Participant, unless (A) the sale of the participation to such Participant is made with Cedar Fair LP’s prior written consent or (B) the entitlement to such greater payment arises after the occurrence and during the continuance
of an Event of Default. 

  
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 (d) Any Lender may at any time pledge or assign a security interest in all
or any portion of its rights under this Agreement to secure obligations of such Lender, including any pledge or assignment to secure obligations to a Federal Reserve Bank, and this Section shall not apply to any such pledge or assignment of a
security interest; provided that no such pledge or assignment of a security interest shall release a Lender from any of its obligations hereunder or substitute any such pledgee or Assignee for such Lender as a party hereto. 

(e) The Borrowers, upon receipt of written notice from the relevant Lender, agree to issue Notes to any Lender requiring
Notes to facilitate transactions of the type described in paragraph (d) above. 
 (f) Notwithstanding the
foregoing, any Conduit Lender may assign any or all of the Loans it may have funded hereunder to its designating Lender without the consent of the Borrowers or the Administrative Agent and without regard to the limitations set forth in
Section 11.6(b); provided that in no event shall any such assignment be made to a Person that, directly or indirectly, is primarily engaged in the ownership or operation of amusement parks, water parks, theme parks or other similar
properties. Each Borrower, each Lender and the Administrative Agent hereby confirms that it will not institute against a Conduit Lender or join any other Person in instituting against a Conduit Lender any bankruptcy, reorganization, arrangement,
insolvency or liquidation proceeding under any state bankruptcy or similar law, for one year and one day after the payment in full of the latest maturing commercial paper note issued by such Conduit Lender; provided, however, that each
Lender designating any Conduit Lender hereby agrees to indemnify, save and hold harmless each other party hereto for any loss, cost, damage or expense arising out of its inability to institute such a proceeding against such Conduit Lender during
such period of forbearance. 
 11.7. Adjustments; Set off. 

(a) Except to the extent that this Agreement expressly provides for payments to be allocated to a particular Lender or to
the Lenders under a particular Facility, if any Lender (a “Benefited Lender”) shall receive any payment of all or part of the Obligations owing to it, or receive any collateral in respect thereof (whether voluntarily or
involuntarily, by set off, pursuant to events or proceedings of the nature referred to in Section 9(f), or otherwise), in a greater proportion than any such payment to or collateral received by any other Lender, if any, in respect of the
Obligations owing to such other Lender, such Benefited Lender shall purchase for cash from the other Lenders a participating interest in such portion of the Obligations owing to each such other Lender, or shall provide such other Lenders with the
benefits of any such collateral, as shall be necessary to cause such Benefited Lender to share the excess payment or benefits of such collateral ratably with each of the Lenders; provided, however, that if all or any portion of such
excess payment or benefits is thereafter recovered from such Benefited Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. 

(b) In addition to any rights and remedies of the Lenders provided by law, each Lender shall have the right, without prior
notice to the Borrowers, any such notice being expressly waived by each Borrower to the extent permitted by applicable law, upon any amount becoming due and payable by any Borrower hereunder (whether at the stated maturity, by acceleration or
otherwise), which amount is not paid when due, to set off and appropriate and apply against such amount any and all deposits (general or special, time or demand, provisional or final), in any currency, and any other credits, indebtedness or claims,
in any currency, in each case whether direct or indirect, absolute or contingent, matured or unmatured, at any time held or owing by such Lender or any branch or agency thereof to or for the credit or the account of such Borrower. Each Lender agrees
promptly to notify Cedar Fair LP and the Administrative Agent after any such setoff and application made by such Lender; provided that the failure to give such notice shall not affect the validity of such setoff and application. 

11.8. Counterparts. This Agreement may be executed by one or more of the parties to this Agreement on any number of separate
counterparts, and all of said counterparts taken together shall be deemed to constitute one and the same instrument. Delivery of an executed signature page of this Agreement by facsimile transmission or 

  
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other electronic transmission shall be effective as delivery of a manually executed counterpart hereof. A set of the copies of this Agreement signed by all the parties shall be lodged with Cedar
Fair LP and the Administrative Agent. 
 11.9. Severability. Any provision of this Agreement that 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. 
 11.10.
Integration. This Agreement and the other Loan Documents represent the entire agreement of the Borrowers, the Agents and the Lenders with respect to the subject matter hereof and thereof, and there are no promises, undertakings,
representations or warranties by any Agent or any Lender relative to subject matter hereof and thereof not expressly set forth or referred to herein or in the other Loan Documents. 

11.11. GOVERNING LAW. THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS AGREEMENT AND THE OTHER LOAN
DOCUMENTS (OTHER THAN AS EXPRESSLY SET FORTH IN OTHER LOAN DOCUMENTS) SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. 
 11.12. Submission to Jurisdiction; Waivers. Each party hereto hereby irrevocably and unconditionally: 
 (a) submits for itself and its property in any legal action or proceeding relating to this Agreement and the other Loan Documents to which it is a party, or for recognition and enforcement of any judgment
in respect thereof, to the non-exclusive general jurisdiction of the courts of the State of New York, the courts of the United States for the Southern District of New York, and appellate courts from any thereof; 

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

(c) agrees that service of process in any such action or proceeding may be effected by mailing a copy thereof by
registered or certified mail (or any substantially similar form of mail), postage prepaid, to such Borrower at its address set forth in Section 11.2 or at such other address of which the Administrative Agent shall have been notified pursuant
thereto; 
 (d) agrees that nothing herein shall affect the right to effect service of process in any other
manner permitted by law or shall limit the right to sue in any other jurisdiction; and 
 (e) waives, to the
maximum extent not prohibited by law, any right it may have to claim or recover in any legal action or proceeding referred to in this Section any special, exemplary, punitive or consequential damages. 

11.13. Acknowledgments. Each Borrower hereby acknowledges that: 

(a) it has been advised by counsel in the negotiation, execution and delivery of this Agreement and the other Loan
Documents to which it is a party; 
 (b) no Agent or Lender has any fiduciary relationship with or duty to any
Borrower arising out of or in connection with this Agreement or any of the other Loan Documents, and the relationship between the Borrowers, on one hand, and the Agents and the Lenders, on the other hand, in connection herewith or therewith is
solely that of debtor and creditor; and 

  
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 (c) no joint venture is created hereby or by the other Loan Documents or
otherwise exists by virtue of the transactions contemplated hereby among the Agents and Lenders or among the Borrowers and the Agents and Lenders. 
 11.14. Releases of Guarantees and Liens. 
 (a)
Notwithstanding anything to the contrary contained herein or in any other Loan Document, the Collateral Agent is hereby irrevocably authorized by each Secured Party (without requirement of notice to or consent of any Secured Party except as
expressly required by Section 11.1) to take any action requested by Cedar Fair LP having the effect of releasing any Collateral or guarantee obligations (i) to the extent necessary to permit consummation of any transaction not prohibited
by any Loan Document or that has been consented to in accordance with Section 11.1 or (ii) under the circumstances described in paragraph (b) below. 

(b) At such time as the Loans, the Reimbursement Obligations and the other obligations under the Loan Documents shall have
been paid in full, the Commitments have been terminated, no Letters of Credit shall be outstanding (unless any such Letter of Credit has been cash collateralized at 105% of its face amount) the Collateral shall be automatically released from the
Liens created by the Security Documents, and the Security Documents and all obligations (other than those expressly stated to survive such termination) of the Collateral Agent and each Loan Party under the Security Documents shall terminate, all
without delivery of any instrument or performance of any act by any Person. 
 (c) The Lenders irrevocably agree
that: 
 (i) any Lien on any property granted to or held by the Administrative Agent or the Collateral Agent
under any Loan Document shall be automatically released (w) pursuant to clause (b) above, (x) at the time the property subject to such Lien is transferred or to be transferred as part of or in connection with any transfer permitted
hereunder or under any other Loan Document to any Person other than any of the Borrowers or any Subsidiary Guarantor, (y) subject to Section 11.1, if the release of such Lien is approved, authorized or ratified in writing by the Required
Lenders, or (z) if the property subject to such Lien is owned by a Subsidiary Guarantor, upon release of such Subsidiary Guarantor from its obligations under its guarantee pursuant to clause (ii) below; and 

(ii) any Subsidiary Guarantor shall be automatically released from its obligations under the Guarantee and Collateral
Agreement if such Person ceases to be a Subsidiary as a result of a transaction or designation permitted hereunder; provided that no such release shall occur if such Guarantor continues to be a guarantor in respect of the Senior Notes.

 11.15. Confidentiality. Each Agent and each Lender agrees to keep confidential all non-public information provided to
it by any Loan Party pursuant to this Agreement that is designated by such Loan Party as confidential; provided that nothing herein shall prevent any Agent or any Lender from disclosing any such information (a) to any Agent, any other
Lender or any Lender Affiliate, (b) subject to an agreement to comply with the provisions of this Section, to any actual or prospective Transferee, to any pledgee referred to in Section 11.6(d) or any direct or indirect counterparty to any
Hedge Agreement (or any professional advisor to such counterparty), (c) to its employees, directors, trustees, agents, attorneys, accountants and other professional advisors or those of any of its affiliates, (d) upon the request or demand
of any Governmental Authority, (e) in response to any order of any court or other Governmental Authority or as may otherwise be required pursuant to any Requirement of Law, (f) if requested or required to do so in connection with any
litigation or similar proceeding, (g) that has been publicly disclosed, (h) to the National Association of Insurance Commissioners or any similar organization or any nationally recognized rating agency that requires access to information
about a Lender’s investment portfolio in connection with ratings issued with respect to such Lender or (i) in connection with the exercise of any remedy hereunder or under any other Loan Document. 

11.16. WAIVERS OF JURY TRIAL. THE BORROWERS, THE AGENTS AND THE LENDERS HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVE TRIAL BY JURY
IN ANY LEGAL ACTION 

  
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OR PROCEEDING RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT AND FOR ANY COUNTERCLAIM THEREIN. 
 11.17. 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 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. 

11.18. Canadian Borrower. The Canadian Borrower hereby irrevocably appoints Cedar Fair, LP as the borrowing agent and attorney in
fact for the Canadian Borrower which appointment shall remain in full force and effect unless and until the Agents shall have received prior written notice signed by the Canadian Borrower that such appointment has been revoked. The Canadian Borrower
hereby irrevocably appoints and authorizes Cedar Fair LP (i) to provide the Agents with all notices with respect to Loans and Letters of Credit obtained for the benefit of the Canadian Borrower and all other notices, consents and instructions
under this Agreement, and (ii) to take such action as Cedar Fair LP deems appropriate on its behalf to obtain Loans and Letters of Credit and to exercise such other powers as are reasonably incidental thereto to carry out the purposes of this
Agreement. The handling of the accounts of each Borrower in a combined fashion, as more fully set forth herein, is done solely as an accommodation to the Borrowers in order to utilize the collective borrowing powers of each Borrower in the most
efficient and economical manner and at their request, and no Agent or Lender shall incur liability to either Borrower or any other Person as a result thereof. Each Borrower expects to derive benefit, directly or indirectly, from the handling of the
accounts in a combined fashion and represents that the successful operation of each Borrower is dependent on the continued successful performance of the integrated group. To induce the Agents and the Lenders to do so, and in consideration thereof,
each Borrower hereby agrees to indemnify each Agent and Lender and hold each Agent and Lender harmless against any and all liability, expense, loss incurred or claim of damage or injury asserted against any Agent or Lender by such Borrower or any
other Group Member or any other Person whosoever, arising from or incurred by reason of (a) the handling of the accounts of the Borrowers as herein provided, (b) the reliance of the Agent and the Lenders on any instructions of Cedar Fair
LP or (c) any other action taken by any Agent or any Lender hereunder or under the other Loan Documents. 
 11.19.
Judgment Currency. If in the recovery by any Secured Party of any amount owing hereunder in any currency, judgment can only be obtained in another currency, and because of changes in the exchange rate of such currencies between the date of
judgment and payment in full of the amount of such judgment the amount of recovery under the judgment differs from the full amount owing hereunder, the applicable Borrower shall pay any such shortfall to the applicable Secured Party, and such
shortfall can be claimed by the applicable Secured Party against such Borrower as an alternative or additional cause of action. 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

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

			
	 CEDAR FAIR, L.P.
  

By Cedar Fair Management Inc., its Managing General
 Partner

		
	By:	 	  

		 	Name:
		 	Title:
	
	MAGNUM MANAGEMENT CORPORATION
		
	By:	 	  

		 	Name:
		 	Title:
	
	CANADA’S WONDERLAND COMPANY
		
	By:	 	  

		 	Name:
		 	Title:
	
	JPMORGAN CHASE BANK, N.A., as Administrative Agent, Collateral Agent, U.S. Issuing Lender and U.S. Swing Line Lender
		
	By:	 	  

		 	Name:
		 	Title:

 
			
	 KEYBANK NATIONAL ASSOCIATION, as Lender

		
	By:	 	  

		 	Name:
		 	Title:
	
	WELLS FARGO BANK, N.A., as Lender
		
	By:	 	  

		 	Name:
		 	Title:
	
	UBS LOAN FINANCE LLC, as Lender
		
	By:	 	  

		 	Name:
		 	Title:
		
	By:	 	  

		 	Name:
		 	Title:
	
	FIFTH THIRD BANK, as Lender
		
	By:	 	  

		 	Name:
		 	Title:
	
	 SUMITOMO MITSUI BANKING CORPORATION, as Lender

		
	By:	 	  

		 	Name:
		 	Title:Captisol Supply Agreement

 Exhibit 10.100 
 CERTAIN MATERIAL (INDICATED BY AN ASTERISK) HAS BEEN OMITTED FROM THIS DOCUMENT PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT. THE OMITTED MATERIAL HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION. 
 CAPTISOL® SUPPLY AGREEMENT 
 BY AND BETWEEN

 CYDEX, INC. 
 AND 
 THE HOVIONE GROUP 

Dated as of December 20, 2002 

 CAPTISOL® SUPPLY AGREEMENT 
 THIS CAPTISOL
SUPPLY AGREEMENT (the “AGREEMENT”) is entered into as of December 20, 2002 by and between: 
  

	 	(1)	CYDEX, INC., a Delaware corporation with an office at 12980 Metcalf Avenue, Suite 470, Overland Park, Kansas, 66213 (“CYDEX”); and

  

	 	(2)	HOVIONE LLC, a New Jersey limited liability company with an office at 40 Lake Drive, East Windsor, New Jersey 08250 (“AGENT”), acting as exclusive
sales agent for the USA for the manufacturers, HOVIONE FARMACIENCIA S.A., a Portuguese corporation (“HOVIONE SA”), and HOVIONE PHARMASCIENCE LIMITED, a Macau corporation (“HOVIONE LIMITED”), and acting as exclusive
sales agent for the project manager HOVIONE INTERNATIONAL LIMITED, a Hong Kong corporation with an office at 172 Gloucester Road, Wanchai, Hong Kong (“HOVIONE INTERNATIONAL”), jointly and severally. AGENT, HOVIONE SA, HOVIONE
LIMITED and HOVIONE INTERNATIONAL are collectively referred to herein as “HOVIONE”). 

 BACKGROUND

 CYDEX desires to purchase from HOVIONE, and HOVIONE desires to supply to CYDEX, CAPTISOL in accordance with the terms and
conditions of this AGREEMENT. 
 AGREEMENTS 
 NOW, THEREFORE, in consideration of the mutual promises hereinafter made and the mutual benefits to be derived from this AGREEMENT, and other good and valuable consideration, the receipt and
sufficiency of which is acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows: 
 ARTICLE
I. 
 DEFINITIONS 
 Capitalized terms shall have the meanings ascribed to them in this Article I or as otherwise set forth in this AGREEMENT. 
 “AAA” has the meaning set forth in Section 10.4(b) hereof. 

“ACT” means the United States Federal Food, Drug and Cosmetic Act, as amended. 

“AFFILIATE” means any individual, corporation or other legal entity which a party directly or indirectly through one or more
intermediaries controls or which is controlled by or under common control with such party. For the purpose of this AGREEMENT, “control” means the possession, direct or indirect, of the power to direct or cause the direction of the
management 

  
 Page 1 of 35

 
and policies of an individual, corporation or other legal entity, whether through the ownership of voting securities, by contract, or otherwise. 

“AGREEMENT” means this Captisol Supply Agreement between HOVIONE and CYDEX. 

“ALTERNATE SUPPLIER” has the meaning set forth in Section 3.10(b) hereof. 

“APPLICABLE LAWS” means all applicable laws, statutes, rules, regulations, ordinances, orders, decrees, writs, judicial or
administrative decisions and the like of any nation or government, any state or other political subdivision thereof, any entity exercising executive, judicial, regulatory or administrative functions of or pertaining to government (including, without
limitation, any governmental authority, agency, department, board, commission or instrumentality of any governmental unit or any political subdivision thereof), any tribunal or arbitrator of competent jurisdiction, and any self-regulatory
organization. 
 “CAPTISOL” means ß-cyclodextrin sulfobutyl ether, sodium salt, as manufactured pursuant to the
process set forth in Exhibit B hereto and meeting the SPECIFICATIONS. 
 “cGMP” means the then-current
Good Manufacturing Practices as promulgated under the ACT at 21 CFR (chapters 210 and 211), as the same may be amended or re-enacted from time to time and as interpreted in accordance with then-current industry standards and FDA policies.

 “CLAIM” has the meaning set forth in Section 10.4(a) hereof. 

“COMMERCIAL PRODUCTION DATE” has the meaning set forth in Section 2.2 hereof. 

“CONFIDENTIAL INFORMATION” means all information, data, know-how and all other business, technical and financial data disclosed
pursuant to the terms of the Confidential Disclosure Agreement between the parties dated August 8, 2002 or hereunder by one party or any of its AFFILIATES to the other party or any of its AFFILIATES, except any portion thereof which:

  

	 	(i)	at the time of disclosure, is in the public knowledge; 

  

	 	(ii)	after disclosure, becomes part of the public knowledge by publication or otherwise, except by breach of this AGREEMENT by the recipient; 

 

	 	(iii)	the recipient can demonstrate by its written records was in the recipient’s possession at the time of such disclosure, and which was not acquired, directly or
indirectly, from the disclosing party; 

  

	 	(iv)	is lawfully disclosed to the recipient on a non-confidential basis by a third party who is not obligated to the disclosing party or any other third party to retain it
in confidence; 

  
 Page 2 of 35

	 	(v)	results from research and development by the recipient independent of such disclosure and can be so documented in writing; or 

 

	 	(vi)	is required to be disclosed by legal process; provided that in each such case the party so disclosing information timely informs the other party and uses its best
efforts to limit the disclosure and maintain confidentiality to the extent possible and permits the other party to attempt by appropriate legal means to limit such disclosure. 

“CONTRACT YEAR” means the twelve (12) month period commencing on the COMMERCIAL PRODUCTION DATE and ending on the first
anniversary of the COMMERCIAL PRODUCTION DATE and each consecutive twelve (12) month period thereafter during the TERM. 

“CYDEX” has the meaning set forth in the first paragraph hereof. 

“CYDEX INDEMNIFIED PARTY” has the meaning set forth in Section 9.2 hereof. 

“DATE OF MANUFACTURE” means the date on the certificate of analysis of each batch of CAPTISOL that evidences the release
approval of the batch by HOVIONE. 
 “EFFECTIVE DATE” means January 1, 2003. 

“FDA” means the United States Food and Drug Administration or any successor entity thereto. 

“FORCE MAJEURE” has the meaning set forth in Section 10.1 hereof. 

“FORECAST” has the meaning set forth in Section 3.5 hereof. 

“HOVIONE” has the meaning set forth in the first paragraph hereof. 

“HOVIONE INDEMNIFIED PARTY” has the meaning set forth in Section 9.1 hereof. 

“HOVIONE QUALITY SYSTEM” means the procedures, methods and controls that are in force at HOVIONE manufacturing sites and that
evidence compliance with the requirements of the FDA, other health authorities and the requirements of this AGREEMENT. 

“ICH GUIDELINES” means all relevant guidelines promulgated from time to time by the International Conference on Harmonisation
of Technical Requirements for Registration of Pharmaceuticals for Human Use. 
 “INITIAL TERM” means the period
commencing upon the EFFECTIVE DATE and ending on December 31, 2010. 
 “IPEC GMPs” means Good Manufacturing
Practices as promulgated from time to time by the International Pharmaceutical Excipients Council. 

  
 Page 3 of 35

 “INVENTION” means information relating to any innovation, improvement,
development, discovery, computer program, device, trade secret, method, know-how, process, technique or the like, whether or not written or otherwise fixed in any form or medium, regardless of the media on which contained and whether or not
patentable or copyrightable. 
 “LIABILITY” means any and all liabilities, losses, damages, penalties, fines,
assessments, expenses and costs of any kind or nature required to be paid by a party hereunder (or its AFFILIATE) to any third party (which shall not include any AFFILIATE of such paying party), primary or secondary, direct or indirect, absolute or
contingent, known or unknown, including without limitation costs of settlement, reasonable attorneys’ fees and related costs and expenses and any liabilities for claims of personal injury or death, suffered or incurred by an indemnified party
hereunder. 
 “PORTUGUESE CPI” has the meaning set forth in Section 4.2(e) hereof. 

“PORTUGUESE CPI INCREASE” has the meaning set forth in Section 4.2(e) hereof. 

“RULES” has the meaning set forth in Section 10.4(b) hereof. 

“SPECIFICATIONS” means the written specifications for the CAPTISOL attached as Exhibit A hereto, as the same may be
amended from time to time by CYDEX pursuant to the provisions of Section 6.3 herein. 
 “SUPPLY INTERRUPTION” has
the meaning set forth in Section 3.10 hereof. 
 “TERM” has the meaning set forth in Section 5.1 hereof.

 “UNIT PRICES” has the meaning set forth in Section 4.1 hereof. 

Unless the context clearly indicates otherwise, the use herein of the singular shall include the plural, and the use of the masculine shall include the
feminine. 
 ARTICLE II. 
 ENGINEERING AND VALIDATION 
 2.1 General. HOVIONE at its sole cost
and expense, subject to the compensation payable by CYDEX pursuant to Section 2.5 hereof, shall perform all necessary engineering work, equipment acquisition and commissioning, training, validation activities and other work required for
HOVIONE’s Loures site to manufacture and supply CAPTISOL in accordance with the provisions of this AGREEMENT, including without limitation the manufacture and supply of CAPTISOL meeting the SPECIFICATIONS in accordance with the manufacturing
process description attached hereto as Exhibit B. For clarity, HOVIONE at its sole cost and expense shall allocate or procure all necessary facilities and equipment (including without limitation spray dryers and analytical equipment) to
manufacture and supply CAPTISOL. HOVIONE shall submit its protocols for engineering and validation batches to CYDEX for its approval prior to commencing any such batch, such approval not to be unreasonably withheld or delayed. CYDEX shall not
unreasonably withhold or delay its approval of any matter described as requiring the approval of CYDEX in this Article II, provided that it shall be deemed reasonable 

  
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for CYDEX to withhold such approval if protocols, reports or any other matter fail to meet industry standards or if HOVIONE’s equipment or process will not reasonably deliver CAPTISOL that
would meet the warranties specified in Article VIII hereof. Protocols, reports and other documents to be provided by HOVIONE to CYDEX under this AGREEMENT, whether for approval or for information, shall be provided in English. 

2.2 Timing. HOVIONE shall use its reasonable best efforts to accomplish the work and services required by this Article II for
HOVIONE’s Loures site in accordance with the Gantt chart timelines attached hereto as Exhibit C to achieve a date for its capability to commercially produce CAPTISOL in accordance with the provisions of this AGREEMENT. The actual
date for such capability shall be referred to herein as the “COMMERCIAL PRODUCTION DATE”, which shall be on or before May 31, 2004. In the event that HOVIONE fails to complete the work and services required by this Article II for
HOVIONE’s Loures site on or before [***], then CYDEX shall have the right in its discretion to terminate this AGREEMENT upon [***] days notice to HOVIONE, whereupon HOVIONE shall refund all amounts paid by CYDEX to HOVIONE to date hereunder
within [***] days of such notice, and CYDEX shall have no further liability to make payments to HOVIONE hereunder. 
 2.3
Engineering Batches. HOVIONE shall successfully complete [***] full-scale engineering batches of CAPTISOL prior to [***]. Each such batch shall yield a minimum of [***] Kg of CAPTISOL to be an acceptable engineering batch. HOVIONE shall not
commence engineering batches until CYDEX has approved, with respect to the equipment necessary for the manufacture of CAPTISOL, (i) HOVIONE’s installation of such equipment (by inspection), (ii) the design qualification report for
such equipment, (iii) the installation qualification report for such equipment, and (iv) the operational qualification report for such equipment. Engineering batches shall be manufactured in accordance with cGMP but shall not be required
to meet the SPECIFICATIONS. The sole purpose of engineering batches is to detect deficiencies in the production line and to adjust the process parameters. 
 2.4 Validation Batches. HOVIONE shall successfully complete [***] full-scale validation batches of CAPTISOL prior to [***]. Each such batch shall yield a minimum of [***] Kg of CAPTISOL to be an
acceptable validation batch. HOVIONE shall not commence validation batches until CYDEX has approved the results of the engineering batches. 
 2.5 Compensation for Engineering and Validation Work. As full compensation for the obligations of HOVIONE pursuant to this Article II, including without limitation the manufacture and supply
of engineering and validation batches, CYDEX shall compensate HOVIONE as follows: 
 (a) Purchase of Engineering and
Validation Batches. The purchase price for the engineering and validation batches referred to in Sections 2.3 and 2.4 hereof (and, for clarity, compensation to HOVIONE for any other batches that may be required if any validation batch fails;
provided however that CYDEX shall have no responsibility to pay for any failed validation batch) shall be an amount equal to [***] Dollars US$[***], payable as follows: 

 
  

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	 	(i)	An advance payment of [***] Dollars US$[***] %, together with CYDEX’s first purchase order pursuant to Section 2.3 or 2.4 hereof, on or before [***];

  

	 	(ii)	A payment of [***] Dollars US$[***] % within [***] days after HOVIONE notifies CYDEX that HOVIONE has actually begun production of the first engineering batch, subject
to CYDEX’s approval of HOVIONE’s protocol for such engineering batch and, with respect the equipment necessary for the manufacture of CAPTISOL, (A) the installation of such equipment (by inspection), (B) the design qualification
report for such equipment, (C) the installation qualification report for such equipment, and (D) the operational qualification report for such equipment; and 

 

	 	(iii)	A payment of [***] Dollars US$[***] % within [***] days after CYDEX approves HOVIONE’s (A) certificates of analysis evidencing quality control release of all
validation batches as to quality and intended purpose, and (B) process validation campaign report. 

 (b)
Payment for HOVIONE Engineering Services. On or before [***] CYDEX shall issue a purchase order to HOVIONE for all engineering services required for the matters contemplated by this Article II, pursuant to which CYDEX shall pay HOVIONE a
fee in the amount of [***] Dollars (US$[***], payable as follows: 
  

	 	(i)	[***] Dollars (US$[***] % upon issuance of such purchase order; 

  

	 	(ii)	[***] Dollars (US$[***] % on or before [***] 

  

	 	(iii)	[***] Dollars (US$[***] % [***] days after CYDEX approves, with respect to the equipment necessary for the manufacture of CAPTISOL, (A) HOVIONE’s installation
of such equipment (by inspection), (B) the design qualification report for such equipment, (C) the installation qualification report for such equipment, and (D) the operational qualification report for such equipment; and

  

	 	(iv)	[***] Dollars (US$[***] % at the successful conclusion of the validation campaign, which for purposes of this clause shall be upon the parties’ mutual approval of
the final quality control release of the third consecutive validation batch that conforms with the warranties specified in Article VIII hereof with no significant process deviations. 

HOVIONE shall reimburse CYDEX for such engineering fees in accordance with Section 4.2(h) and 5.3 (vii) hereof. 

2.6 Available Capacity. From and after the COMMERCIAL PRODUCTION DATE during the TERM, HOVIONE shall at all times maintain an
annual manufacturing capacity at its Loures site suitable to meet CYDEX’s expected requirements of CAPTISOL as long as its 
  

 

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FORECASTS do not exceed [***], provided that CYDEX shall provide FORECASTS pursuant to Section 3.5 hereof to permit HOVIONE to efficiently schedule the use of such capacity. 

2.7 Macau Site. At such time as (i) the forecasted requirements by CYDEX for CAPTISOL pursuant to its FORECASTS equal or
exceed [***] for any CONTRACT YEAR, or (ii) HOVIONE determines to be necessary or advisable and CYDEX does not unreasonably withhold approval, HOVIONE at its sole expense shall establish a second manufacturing facility for CAPTISOL at its Macau
site capable of producing [***] of CAPTISOL per year and shall validate such site to permit the manufacture and supply of CAPTISOL at such site in accordance with the terms and conditions of this AGREEMENT, all on a timely basis for delivery of all
quantities of CAPTISOL ordered by CYDEX hereunder. For the avoidance of doubt, there will be no reimbursement by CYDEX to HOVIONE for the costs and expenses of HOVIONE related to the Macau site, including without limitation engineering fees. Prior
to use of the Macau facility for the production of CAPTISOL, such facility shall have passed inspection and audit by CYDEX for compliance with IPEC GMPs, FDA cGMPs, ICH GUIDELINES and other relevant guidance documents issued by IPEC, FDA and ICH. In
consideration for HOVIONE having established a second facility to manufacture CAPTISOL, HOVIONE shall be free to choose to manufacture CAPTISOL in either facility as long as all quality and compliance requirements are met. From and after such time
as HOVIONE begins to use its Macau site for the manufacture of CAPTISOL, HOVIONE shall at all times maintain an annual manufacturing capacity suitable to meet CYDEX’s expected requirements of CAPTISOL up to [***]. 

2.8 Additional Engineering Services. At the reasonable request of CYDEX, but subject to advance notice and availability, HOVIONE
shall provide additional engineering and process development services related to CAPTISOL at rates to be negotiated in good faith by the parties. 
 ARTICLE III. 
 MANUFACTURE AND DELIVERY OF CAPTISOL 

3.1 Purchase and Sale. Pursuant and subject to the terms and conditions of this AGREEMENT, from and after the COMMERCIAL
PRODUCTION DATE, HOVIONE agrees to manufacture CAPTISOL at its Loures and Macau facilities for CYDEX, and CYDEX agrees to purchase CAPTISOL from HOVIONE. All quantities of CAPTISOL manufactured or supplied by HOVIONE and its AFFILIATES shall be
exclusively for CYDEX, and HOVIONE shall not manufacture or supply quantities of CAPTISOL for any third parties (whether or not such third parties have the legal right to license HOVIONE to do so) without the express written consent of CYDEX, which
CYDEX may provide or withhold in its sole discretion. 
 3.2 CYDEX Purchase Requirements. CYDEX shall make the following
purchases of CAPTISOL from HOVIONE, and HOVIONE shall supply to CYDEX such purchases: 
  

 

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 (a) First CONTRACT YEAR Commitment. CYDEX shall issue purchase orders for at least
[***] but no more than [***] of CAPTISOL for deliveries in the first CONTRACT YEAR and shall issue said purchase order within [***] days after the EFFECTIVE DATE of this AGREEMENT. CYDEX may increase quantities of CAPTISOL ordered for delivery in
the first CONTRACT YEAR and HOVIONE shall supply such quantifies on a best efforts basis, provided that CYDEX provides notice to HOVIONE of such change at least [***] months prior to the COMMERCIAL PRODUCTION DATE if the COMMERCIAL PRODUCTION DATE
has been generally anticipated by the parties for at least [***] months. 
 (b) Requirements. From and after the
COMMERCIAL PRODUCTION DATE, during the TERM, except as provided herein, CYDEX shall purchase its requirements of CAPTISOL exclusively from HOVIONE. Notwithstanding the foregoing, (i) such commitment shall not apply to customers or licensees of
CYDEX who may have been or may be granted the legal right to independently source CAPTISOL, (ii) such commitment shall not apply if CYDEX’s requirements for CAPTISOL exceed HOVIONE’s ability to meet such requirements, (iii) such
commitment is subject to Sections 10.1 (for FORCE MAJEURE) and 3.10 (for SUPPLY INTERRUPTION) hereof, and (iv) such commitment shall cease to apply if the average UNIT PRICE (estimated or actual) for a CONTRACT YEAR exceeds US$[***].

 (c) US$[***] Minimum. During the TERM, CYDEX shall purchase from HOVIONE at least [***] Dollars US$[***] in purchase
price value of CAPTISOL, at such times as CYDEX may determine in its discretion (subject to the forecasting and purchase order provisions of Sections 3.5 and 3.6 hereof). For clarity, the compensation paid by CYDEX to HOVIONE for engineering and
validation batches pursuant to Section 2.5(a) hereof shall be counted and included within such aggregate requirement. 

3.3 Supply Restrictions. All quantities of CAPTISOL manufactured or supplied by HOVIONE and its AFFILIATES shall be exclusively
for CYDEX. Given the financial subsidies and technology transfer provided by CYDEX hereunder, during the TERM and for a period of [***] years following the TERM, HOVIONE and its AFFILIATES shall not (1) manufacture or supply quantities of
CAPTISOL for any third parties (whether or not such third parties have the legal right to license HOVIONE to do so) without the express written consent of CYDEX, which CYDEX may provide or withhold in its sole discretion, and (ii) manufacture
or supply any product similar to or competitive with CAPTISOL which would (A) infringe the proprietary rights owned by or licensed to CYDEX, or (B) utilize any information or technology provided by CYDEX to HOVIONE. 

3.4 Labeling and Packaging. HOVIONE shall package and label CAPTISOL as directed from time to time by CYDEX at least [***] days
prior to the relevant delivery of CAPTISOL. CYDEX shall be responsible for paying all out-of-pocket costs of the design of any new packaging and labeling of HOVIONE or CYDEX for CAPTISOL and shall provide to HOVIONE (which shall actually prepare
such packaging and labeling) CYDEX’s logo, color codes, designs, information, graphics and art work to be applied to CAPTISOL. HOVIONE 
  

 

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acknowledges and agrees that the costs of all standard packaging and standard labeling for CAPTISOL are included in the UNIT PRICES for CAPTISOL. Any changes thereto shall be charged separately.

 3.5 FORECASTS, Purchase Orders and Minimum Quantities. Within [***]) days after the commencement of any CONTRACT YEAR,
CYDEX shall provide HOVIONE with a written [***] month forecast of its anticipated purchase order for commercial quantities of CAPTISOL for the subsequent CONTRACT YEAR (“FORECAST”), specifying quantities and delivery dates. Not later than
[***] months in advance of such CONTRACT YEAR, CYDEX shall be required to place its irrevocable purchase order for [***] percent [***]% of the aggregate quantities of CAPTISOL specified in its FORECAST, provided that CYDEX shall have the right, with
respect to not more than [***] percent [***]%of FORECASTED quantities, to (i) increase or decrease such FORECASTED quantities, and/or (ii) change the allocation of such quantities among deliveries scheduled and new delivery dates, provided
in aggregate the changed amounts are not disproportionately concentrated in time thereby causing HOVIONE to produce and deliver in that period in excess of the [***] its obligations. CYDEX’s irrevocable purchase order shall be for at
least[***]. HOVIONE shall confirm acceptance of such annual irrevocable purchase order within [***]days of receipt. Should CYDEX desire to make additional changes in quantities and/or delivery dates, CYDEX shall notify HOVIONE and HOVIONE will use
its best efforts to accommodate CYDEX’s requests. 
 3.6 Supply. HOVIONE shall accept all such purchase orders for
quantities up to [***] percent [***]% of the quantities specified in CYDEX’s FORECASTS and shall supply all quantities of CAPTISOL so ordered to CYDEX within [***] days of the delivery date(s) specified in each such purchase order, unless
otherwise agreed. HOVIONE shall advise and maintain regular communication with CYDEX regarding delays and progress on issued orders. No purchase order, shipping document, confirmation or waybill shall be deemed to modify, supplement or substitute
for the terms and conditions of this AGREEMENT, except upon the mutual written agreement of the parties. All such documents shall be subject to, and shall be deemed to incorporate, the teens and conditions of this AGREEMENT. 

3.7 Additional Inventory. HOVIONE shall manufacture and hold in inventory an additional quantity of CAPTISOL equal to [***]
percent [***]% of the quantities specified by CYDEX in each of its purchase orders. CYDEX shall not be required to purchase or pay for such additional inventory until the earlier of (i) the date on which CYDEX requests that such additional
inventory be delivered to CYDEX to meet unforeseen demand or replace interrupted manufacturing capacity, or (ii) [***] from the DATE OF MANUFACTURE. 
 3.8 Delivery. CAPTISOL shall be shipped by HOVIONE DDP (INCOTERMS 2000) by air to any destination (or multiple destinations) designated by CYDEX, provided said duties on CAPTISOL for said
destination have been suspended. If duties cease to be suspended or if any other impositions, import duty or otherwise, cause additional delivery costs to HOVIONE beyond CIF costs, then HOVIONE shall be free to add such extra costs to the sales
price of 
  
  

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CAPTISOL. All deliveries of confirmed CYDEX orders shall be available for shipment to CYDEX on or before the date specified in the relevant purchase order. CYDEX may also direct HOVIONE to
deliver CAPTISOL into CYDEX’s inventory, stored at HOVIONE’s site. HOVIONE warrants that such CAPTISOL shall be stored and preserved in accordance with mutually agreed conditions, and shall be labeled as inventory owned by CYDEX. HOVIONE
shall maintain insurance for such CYDEX inventory with CYDEX named as an insured, and shall provide a certificate of such insurance to CYDEX upon its request from time to time. Such storage and insurance shall be provided without charge to CYDEX for
a period of not more than [***] days counted as from DATE OF MANUFACTURE, and shall be provided to CYDEX by HOVIONE at HOVIONE’s monthly storage rate thereafter, for the relevant quantity of CAPTISOL. At such times as CYDEX may direct to
HOVIONE in writing, quantities of CAPTISOL from such inventory shall be further shipped by HOVIONE at its cost DDP (INCOTERMS 2000) by air to any destination (or multiple destinations) designated by CYDEX in quantities of no less than one batch. For
smaller batches additional packing and freight charges shall apply. 
 3.9 Shortages/Damaged Goods/Rejected Goods.

 (a) Shortages/Damaged Goods. CYDEX shall notify HOVIONE in writing of any obvious visible damage or obvious shortage
in quantity of any shipment of CAPTISOL within its possession within [***] days after receipt by CYDEX. In the event of (i) any shortage in quantity of any shipment of CAPTISOL that is not within CYDEX’s possession, (ii) any
non-obvious shortage in quantity of any shipment of CAPTISOL within CYDEX’s possession, or (iii) any non-obvious damage to any CAPTISOL, CYDEX shall notify HOVIONE in writing within [***] days after discovery of such shortage or damage. In
the event of any shortage or damage as described in this Section 3.9(a), HOVIONE shall make up the shortage or replace the damaged shipment within [***] days after notification by CYDEX, if replacement CAPTISOL stock is available, or if no such
replacement stock is available, CYDEX shall deduct the invoiced amount relating to any shortage of CAPTISOL or damaged CAPTISOL from payment of the HOVIONE invoice or invoices for such CAPTISOL. 

(b) Rejected Goods. CYDEX shall notify HOVIONE in writing by issuing a complaint of any claim relating to any shipment of CAPTISOL
failing to meet the SPECIFICATIONS or packaging requirements to be agreed upon (other than due solely to storage, handling or shipping by CYDEX, its AFFILIATES or customers) within [***] business days after delivery. Such notification shall specify
the packaging size and lot number of such CAPTISOL. HOVIONE shall replace any such CAPTISOL that is rejected within [***] business days after notification by CYDEX, if replacement CAPTISOL stock is available. CYDEX shall not be responsible, and
shall receive a credit from HOVIONE, for any additional costs of shipping and freight required to be paid as a result of any replacement of CAPTISOL under this Section 3.9(b). The provisions of this Section 3.9(b) shall not apply to
CAPTISOL which fails to meet the SPECIFICATIONS or packaging requirements due solely to storage, handling or shipping by CYDEX, its AFFILIATES or customers. After CYDEX returns the 

 
  

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non-compliant product to HOVIONE and if HOVIONE is unable to replace the returned product with an equal amount of compliant product, CYDEX may deduct the invoiced amount for any CAPTISOL which is
rejected (other than due solely to storage, handling or shipping by CYDEX, its AFFILIATES or customers) from payment of the HOVIONE invoice or invoices for such CAPTISOL. 
 (c) Disputes. In the event of a dispute regarding whether any CAPTISOL fails to meet the SPECIFICATIONS which HOVIONE and CYDEX are unable to resolve, a sample of such CAPTISOL shall be submitted
by one of the parties to an independent laboratory reasonably acceptable to both parties for testing and the test results obtained by such laboratory shall be final and controlling. The fees and expenses of such laboratory testing and all additional
shipping and transportation costs incurred as a result of the dispute shall be borne entirely by the party against whom such laboratory’s findings are made. In the event the test results indicate that the CAPTISOL in question fails to meet the
SPECIFICATIONS, HOVIONE shall replace such CAPTISOL within [***] days after receipt of such results if replacement CAPTISOL stock is available. The party-not-at-fault shall not be responsible, and shall receive a credit from the party-at-fault, for
any additional costs of shipping and freight required to be paid as a result of any replacement of CAPTISOL under this Section 3.9(c). After CYDEX returns the non-compliant product to HOVIONE and if HOVIONE is unable to replace the returned
product with an equal amount of compliant product, CYDEX shall deduct the invoice amount for any CAPTISOL which is so determined to fail to meet the SPECIFICATIONS from payment of the HOVIONE invoice or invoices for such CAPTISOL. 

(d) Time Limit. HOVIONE shall have no liability for any claim with regard to quality or compliance issues, shortage or damaged
goods, or any other kind of complaint related to CAPTISOL, if HOVIONE is not notified thereof in writing within [***] of the date of invoice. 
 3.10 SUPPLY INTERRUPTION. For purposes of this AGREEMENT, a “SUPPLY INTERRUPTION” shall be deemed to occur: (i) if HOVIONE’s ability to supply adequate quantities of CAPTISOL in
saleable form in a timely manner to CYDEX is adversely affected or inhibited as reasonably determined by both parties, (ii) if HOVIONE notifies CYDEX of an event of FORCE MAJEURE pursuant to Section 10.1 hereof, or (iii) if in any
[***] day period covered by a FORECAST, HOVIONE fails to deliver, in saleable form in accordance with the terms of this AGREEMENT, at least [***]% by quantity or by value of CAPTISOL ordered by CYDEX in accordance with its FORECASTS (for whatever
cause or no cause). For purposes of this AGREEMENT, a SUPPLY INTERRUPTION shall be deemed to have been fully cured [***]. In the event of any SUPPLY INTERRUPTION, the following terms and conditions shall apply, which shall be cumulative and not in
the alternative: 
 (a) Pro Rata Entitlement. In the event of a SUPPLY INTERRUPTION, CYDEX shall be entitled to a pro
rata (in unit quantity) share of the manufacturing capacity of 
  

 

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HOVIONE and its AFFILIATES for the manufacture of CAPTISOL as compared to the manufacture of other products, to the extent operationally relevant. 

(b) ALTERNATE SUPPLIER. In the event of a SUPPLY INTERRUPTION, CYDEX shall have the right to designate and qualify one or more
alternate suppliers for CAPTISOL, which selection need not be approved by HOVIONE (each an “ALTERNATE SUPPLIER”). HOVIONE, at CYDEX’s expense, shall promptly provide at such times and locations as may reasonably be requested by CYDEX,
reasonable cooperation to CYDEX in qualifying any ALTERNATE SUPPLIER. From the time that any SUPPLY INTERRUPTION begins until such SUPPLY INTERRUPTION is fully cured, and for a commercially reasonable period of time thereafter, CYDEX may obtain
quantities of CAPTISOL from one or more ALTERNATE SUPPLIERS. [***]. 
 (c) Termination of AGREEMENT. CYDEX may terminate
this AGREEMENT if the SUPPLY INTERRUPTION is not fully cured within [***] days after the date on which the SUPPLY INTERRUPTION began as described in this Section 3.10. 
 3.11 Compliance with APPLICABLE LAWS. HOVIONE and its AFFILIATES shall comply fully with APPLICABLE LAWS in the performance of this AGREEMENT. 

3.12 License. CYDEX grants to HOVIONE a royalty-free, non-exclusive license during the TERM to use the intellectual property
rights of CYDEX solely to make CAPTISOL for sale to CYDEX under and pursuant to this AGREEMENT. 
 ARTICLE IV. 

PRICES AND PAYMENT 
 4.1 Initial UNIT PRICES. As full compensation for the performance of HOVIONE hereunder for the manufacture and supply of CAPTISOL from its Loures site from and after the COMMERCIAL PRODUCTION DATE,
CYDEX shall pay HOIVONE the following supply prices (“UNIT PRICES”) for CAPTISOL: 
  

					
	 Quantities of CAPTISOL Supplied in a CONTRACT YEAR
	  	UNIT PRICES
(US$)	 
	 Engineering Batches

 
 (in addition to
those provided for under Section 2.3)
	  	US$	[***]	  
	 Validation Batches

 
 (in addition to
those provided for under Section 2.4)
	  	US$	[***]	  
	 [***]
	  	US$	[***]	  

  

 

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	[***]	  	US$	[***	] 
	[***]	  	US$	[***	] 

 Such UNIT PRICES shall be adjusted only as
provided in Section 4.2 hereof. An estimated UNIT PRICE for deliveries of CAPTISOL to be used for all invoices in a given CONTRACT YEAR shall be based on the purchase order for such CONTRACT YEAR. Within [***] days following the end of each
CONTRACT YEAR, CYDEX shall submit to HOVIONE a reconciliation of the total amount that should have been paid by CYDEX for all quantities of CAPTISOL purchased during such CONTRACT YEAR in accordance with the actual UNIT PRICE against the total
amounts actually billed by HOVIONE and paid for by CYDEX for such quantities based on the estimated UNIT PRICE for such year. If such reconciliation shows that CYDEX has overpaid for such purchases, then HOVIONE shall, upon [***] days’ notice,
at CYDEX’s election, either refund such overpayment or credit such overpayment against future purchases of CAPTISOL. If such reconciliation shows that CYDEX has underpaid for such purchases, then CYDEX shall remit the balance so determined to
be due to HOVIONE within [***] days of its submission of such reconciliation. Such UNIT PRICES include all raw materials, conversion costs and delivery costs (other than customs duties, if any, in the country where CAPTISOL is to be delivered as
directed by CYDEX). 
 4.2 Adjustments to UNIT PRICES. The initial UNIT PRICES specified in Section 4.1 hereof shall
be adjusted only as follows: 
 (a) Variance from Engineering Information. The initial UNIT PRICES specified in
Section 4.1 represent the parties’ best estimate as of the EFFECTIVE DATE for the cost of [***] for CAPTISOL and were based on the manufacturing efficiency set forth in Exhibit E and the information contained in
Exhibit B. If and to the extent that HOVIONE can demonstrate by clear and precise evidence that the manufacturing efficiency set forth in Exhibit E is not achievable (any such evidence to be based on the first [***], then the
initial UNIT PRICES (for the first CONTRACT YEAR, which shall also be the base reference point for future CONTRACT YEARS for which such revised UNIT PRICES will be adjusted pursuant to this and other clauses of this Section 4.2) as set out in
Section 4.1 shall be [***] required to manufacture in accordance with the manufacturing efficiency set forth in Exhibit E, provided that no increase shall exceed [***] percent [***]% in the aggregate (i.e., the initial UNIT PRICE
for quantities of CAPTISOL below [***] cannot be more than US$[***], subject to the other adjustments permitted by this Section 4.2). 
 (b) Currency Exchange Rates. UNIT PRICES for each CONTRACT YEAR shall be adjusted (after all other adjustments are made pursuant to this Section 4.2) for certain currency exchange rate changes
as specified in Exhibit D hereto. 
 (c) Reduction in Raw Materials Usage. As of the [***] of the COMMERCIAL
PRODUCTION DATE in 2006 and 2008, and if relevant each even-numbered year thereafter (i.e., 2010, 2012, etc.), the UNIT PRICES shall be increased or decreased, as the 

 
  

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case may be, in an amount equal to [***] percent [***]% of the actual increase or decrease in the average cost of raw materials achieved (on the basis of the average per kilogram of raw materials
used to the per kilogram of CAPTISOL manufactured) in the previous [***] CONTRACT YEARS related to greater efficiencies in the manufacturing process set forth in Exhibit B. 

(d) Changes in Raw Materials Prices. UNIT PRICES for each CONTRACT YEAR shall be adjusted in an amount equal to [***]% of any
increase or decrease in the costs of raw materials (on a per kilogram of raw materials basis) as compared to the previous CONTRACT YEAR. 
 (e) Changes in PORTUGUESE CPI. As of the anniversary of the COMMERCIAL PRODUCTION DATE in 2006 and 2008, and if relevant each even-numbered year thereafter (i.e., 2010, 2012, etc.), with sole
respect to the conversion cost component (and not raw materials cost component) of each UNIT PRICE, each UNIT PRICE shall be increased or decreased [***](the “PORTUGUESE CPI”), using 118.2 on October 2002 (using the Base 100: 1997 series)
as the base reference point (the “PORTUGUESE CPI INCREASE”). For purposes of this Section 4.2(e), the conversion cost component of a UNIT PRICE for purposes of computing the PORTUGUESE CPI INCREASE shall be the UNIT PRICE less [***]of
CAPTISOL multiplied by the [***] on the said date divided by 118.2. 
 (f) Use of Macau Site. The UNIT PRICES for
CAPTISOL manufactured and supplied from HOVIONE’s Macau site shall not exceed the UNIT PRICES for CAPTISOL manufactured and supplied from HOVIONE’s Loures site, as determined pursuant to this Article IV. 

(g) Changes to SPECIFICATIONS or Process. In the event that CYDEX initiates a change to the SPECIFICATIONS or the testing or
manufacturing process for CAPTISOL pursuant to Section 6.3 hereof, the UNIT PRICES shall be adjusted as provided in such Section 6.3. 
 (h) Reimbursement for Loures Engineering Services. At such time as CYDEX has completed payment of [***] Dollars (US$[***] to HOVIONE for CAPTISOL (including without limitation payments made by
CYDEX pursuant to Section 2.5(a) hereof for engineering and validation batches), the UNIT PRICES for quantities of CAPTISOL shall be reduced for the next [***] Dollars (US$[***] worth of CAPTISOL ordered by CYDEX so that the [***] Dollar
(US$[***] engineering fee paid by CYDEX pursuant to Section 2.5(b) hereof shall be reimbursed to CYDEX on a pro rata basis for such quantities of CAPTISOL. 
 4.3 Payment. All payments required by this AGREEMENT shall be made in United States Dollars. All invoices shall be paid by CYDEX not later than [***] days after the date of HOVIONE’s invoice,
which shall not be dated earlier than the delivery date specified in CYDEX’s purchase order related to such invoice. Notwithstanding the foregoing, HOVIONE may invoice CYDEX for all CAPTISOL manufactured per CYDEX’s purchase order within
[***] days of the DATE OF MANUFACTURE of such CAPTISOL. Unless CYDEX notifies 
  

 

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HOVIONE in writing of a good faith dispute, with respect to payments not received within [***] days after the date due, interest shall accrue on any amount overdue at the rate of one and [***]
percent [***]%per month, such interest to begin accruing on a daily basis from the date due, and shall accrue both before and after judgment. Should CYDEX repeatedly delay payment of a HOVIONE invoice, or if HOVIONE should reasonably consider that a
credit risk exists, HOVIONE shall be free to require that each purchase order be accompanied by an irrevocable and confirmed letter of credit issued by a USA bank. 
 4.4 Marketing. CYDEX shall be responsible for all advertising, marketing and sales costs associated with the distribution of CAPTISOL, and shall have complete authority for all resale pricing
decisions for CAPTISOL. 
 4.5 Continuous Improvement. The parties, through specifically designated personnel of each
party, shall collaborate on a regular basis during the TERM to identify, track and review specific cost-saving opportunities relating to the supply of CAPTISOL hereunder (including, without limitation, increasing manufacturing efficiencies and
reducing raw materials and manufacturing costs). 
 ARTICLE V. 

TERM AND TERMINATION 
 5.1 TERM of this AGREEMENT. The term of this AGREEMENT (the “TERM”) shall be the INITIAL TERM together with any renewal terms pursuant to Section 5.2 hereof, unless this AGREEMENT is
earlier terminated in accordance with the provisions of Section 5.3 hereof. 
 5.2 Renewal Periods. This AGREEMENT
shall automatically continue after the INITIAL TERM for successive renewal terms of two (2) years each unless either party gives written notice to the other party of its intention to terminate this AGREEMENT at least [***] prior to the end of
the INITIAL TERM or any renewal term. 
 5.3 Early Termination. Either CYDEX or HOVIONE, as the case may be, may
terminate this AGREEMENT forthwith by notice in writing to the other party as follows: 
  

	 	(i)	either party may terminate this AGREEMENT if the other party commits a material breach of this AGREEMENT, which in the case of a breach capable of remedy shall not have
been remedied within [***] days of the receipt by the other party of a notice identifying the breach and requiring its remedy or such longer time as the party in breach may demonstrate to the other party is necessary to remedy the breach using its
reasonable efforts to do so; or 

  

	 	(ii)	either party may terminate this AGREEMENT without prior advance notice to the other party in the event that (i) the other party is declared insolvent or bankrupt
by 

  
  

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portions. 

  
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a court of competent jurisdiction; (ii) the other party files a voluntary petition of bankruptcy or insolvency or for reorganization or for an arrangement or for the appointment of a
receiver or trustee of the party or of its assets, in any court of competent jurisdiction; or (iii) this AGREEMENT is assigned by such other party for the benefit of creditors; or 

 

	 	(iii)	CYDEX may terminate this AGREEMENT upon [***] days’ written notice in the event that the FDA or any other regulatory authority takes any action, or raises any
objection, that prevents CYDEX from importing, exporting, purchasing or selling CAPTISOL; or 

  

	 	(iv)	CYDEX may terminate this AGREEMENT effective immediately upon notice if at any time during the TERM HOVIONE or an AFFILIATE becomes debarred or receives notice of
action or threat of action with respect to its debarment by the FDA or any other regulatory authority having jurisdiction over CAPTISOL. HOVIONE shall notify CYDEX immediately if at any time during the TERM HOVIONE or any of its AFFILIATES or their
officers or employees becomes so debarred, or receives notice of action or threat of action with respect to any such debarment; or 

  

	 	(v)	CYDEX may terminate this AGREEMENT in accordance with Section 2.2 or Section 3.10(c) hereof; or 

 

	 	(vi)	either party may terminate this AGREEMENT in accordance with Section 10.1 hereof. 

 

	 	(vii)	If prior to the end of the first CONTRACT YEAR HOVIONE is unable to meet the manufacturing efficiency set forth in Exhibit E, and an increase of [***]
percent [***]% in UNIT PRICES as provided for in Section 4.2(a) is inadequate to compensate HOVIONE for its increased costs to manufacture CAPTISOL, and if other commercial arrangements cannot be agreed to between HOVIONE and CYDEX, HOVIONE
shall be free to terminate this AGREEMENT by giving [***] prior written notice to CYDEX and by returning to CYDEX [***] percent [***]% of the amounts received from CYDEX under 2.5 (b) as well as those amounts received by HOVIONE from CYDEX
under 2.5 (a) for which HOVIONE did not manufacture and supply the corresponding two (2) engineering batches and the [***] validation batches. During the [***] year period following HOVIONE’s notice of termination, (i) CYDEX
shall not be required to purchase CAPTISOL exclusively from HOVIONE, (ii) HOVIONE shall provide reasonable cooperation to CYDEX in qualifying any new supplier on reasonable terms to be negotiated, and (iii) HOVIONE shall manufacture and
supply CAPTISOL to CYDEX on the terms and conditions of this AGREEMENT, provided however that the purchase price of CAPTISOL shall be determined as follows: UNIT PRICE (as set forth in Section 4.1 hereof) minus 

 
  

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portions. 

  
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(raw material costs and delivery costs) minus [***] percent [***]% of UNIT PRICE) multiplied by the dividend of [***] plus [***] percent [***]% of UNIT PRICE). 

Adjusted Unit Price= 
 [***] 

Example:         [***] 
 AUP = [***] 
 5.4 Consequences of Termination and Survival. Termination of
this AGREEMENT for whatever reason shall not affect the accrued rights and obligations of HOVIONE or CYDEX arising under or out of this AGREEMENT. The provisions of Articles I, VII and X and of Sections 6.1, 6.6, 6.7, 6.8, 6.9, 9.1, 9.2, 9.3, 9.4,
9.6 and 9.7 of this AGREEMENT and this Section 5.4 shall survive the expiration or termination of this AGREEMENT or of any extensions thereof. In addition, any other provisions which are required to interpret and enforce the parties’
rights and obligations under this AGREEMENT shall also survive such expiration or termination to the extent required for the full observation and performance of this AGREEMENT by the parties hereto. 

ARTICLE VI. 

MANUFACTURING COMPLIANCE, 
 ACCESS AND REGULATORY MATTERS 
 6.1 Tests; Retained Samples;
Documentation. HOVIONE shall perform, or cause to be performed, tests on each lot or batch of CAPTISOL manufactured pursuant to this AGREEMENT before delivery to CYDEX. Such tests shall include those referenced in Exhibit A and shall
be used to determine compliance with the SPECIFICATIONS. Samples of CAPTISOL and the results of all such testing, certificates of analysis, release documents and similar documents shall be retained by HOVIONE in accordance with prudent industry
standards and APPLICABLE LAWS and made available by HOVIONE to CYDEX upon its request for a period of [***] from the date of delivery to CYDEX pursuant to Section 3.8 hereof, or such longer period if any required by APPLICABLE LAWS. 

6.2 Manufacturing Compliance. CAPTISOL shall be manufactured in accordance with IPEC GMPs, FDA cGMPs, ICH GUIDELINES, the
manufacturing process description attached hereto as Exhibit B, and all APPLICABLE LAWS, and shall be manufactured and supplied from HOVIONE’s Loures and Macau sites only. 

6.3 Change Control. Any changes in SPECIFICATIONS or the test methods referenced in Exhibit A or manufacturing
processes described in Exhibit B shall not be made by HOVIONE without CYDEX’s prior substantive involvement and written approval, which 
  

 

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approval may be withheld in CYDEX’s sole discretion. CYDEX may make changes to such SPECIFICATIONS, test methods or manufacturing processes, provided that (i) CYDEX shall consult with
HOVIONE prior to any such change to confirm that HOVIONE’s manufacturing processes will permit such change, and (ii) in the event that raw materials costs or conversion costs are increased or decreased by any such change initiated by
CYDEX, then the UNIT PRICES for CAPTISOL shall be increased or decreased, as the case may be, in an amount equal to such increase or decrease in costs. HOVIONE and CYDEX shall negotiate in good faith an equitable means of financing any costs
associated with implementation of such a change request on commercially reasonable terms. If additional material capital equipment is required to implement any such change, the parties shall negotiate in good faith an equitable means of financing
the costs of such equipment on commercially reasonable terms. 
 6.4 Access to Facilities. Upon the reasonable prior
written request of CYDEX, CYDEX and/or customers of CYDEX shall have the right to inspect those portions of HOVIONE’s manufacturing and testing facilities where CAPTISOL is being manufactured, tested or stored, as the case may be, during
regular business hours, to ascertain compliance with the provisions of this AGREEMENT. The charges, if any, to be paid by CYDEX to HOVIONE for such purposes are specified in Exhibit E hereto. 

6.5 Regulatory Correspondence. HOVIONE shall promptly (and in any event within [***] days after receipt by HOVIONE) provide to
CYDEX copies of all correspondence to or from the FDA or any other governmental authority received by HOVIONE relating to CAPTISOL and all other correspondence received by HOVIONE bearing on the safety of CAPTISOL. 

6.6 Inquiries and Complaints relating to CAPTISOL. Except for technical product complaints relating to the manufacture of CAPTISOL
or as otherwise required by law or governmental regulation, CYDEX shall be responsible for investigating and responding to all inquiries, complaints and adverse events regarding CAPTISOL. It shall be CYDEX’s right and responsibility to comply
with all reporting requirements regarding adverse events and quality matters relating to the CAPTISOL. 
 6.7 Response to
Complaints and/or Adverse Events. Pursuant to any reported complaint and/or adverse event, if the nature of the reported complaint and/or adverse or event requires testing, HOVIONE shall, at CYDEX’s reasonable request and expense, perform,
or cause to be performed, analytical testing of corresponding retention samples and provide the results thereof to CYDEX as soon as reasonably practicable; provided, however, that HOVIONE shall be responsible for the reasonable costs
of such testing and reporting to the FDA or any other governmental regulatory agency if it is determined that HOVIONE is responsible for such reported complaint and/or adverse event. Such testing shall be performed using approved testing procedures.

 6.8 Additional Information. HOVIONE shall provide to CYDEX in a timely manner, but in no event less than [***] days
prior to the due date of CYDEX’s annual update to its Drug 
  

 

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Master File with respect to CAPTISOL, all information (in written form) which CYDEX reasonably requests regarding CAPTISOL in order to comply with APPLICABLE LAWS. 

6.9 Recalls. In the event (i) the FDA or any other governmental or regulatory authority issues a directive, order or,
following the issuance of a safety warning or alert with respect to CAPTISOL, a written request that CAPTISOL or any product containing CAPTISOL be recalled or retrieved, (ii) a court of competent jurisdiction orders such a recall or retrieval,
or (iii) CYDEX determines that any CAPTISOL should be recalled or retrieved or that a “dear doctor” letter is required relating to restrictions on the use of CAPTISOL or any product containing CAPTISOL, the parties shall take all
appropriate corrective actions, and shall cooperate in the investigations surrounding the recall, retrieval or letter. In the event that CYDEX reasonably determines that any CAPTISOL should be recalled, CYDEX shall consult with HOVIONE prior to
taking any corrective actions. In the event that such recall results from any cause or event other than that arising from the defective manufacture, storage or handling which would constitute a breach by HOVIONE of this AGREEMENT, CYDEX shall be
responsible for all documented out-of-pocket expenses of such recall consistent with directions received from the appropriate governmental or regulatory authority. In the event that such recall results from any cause or event arising from the
defective manufacture, storage or handling which would constitute a breach by HOVIONE of this AGREEMENT, HOVIONE shall be responsible for all such documented out-of-pocket expenses. For purposes of this AGREEMENT, HOVIONE’s expenses shall be
limited to the expenses of notification and destruction or return of the recalled CAPTISOL and product containing CAPTISOL, all other documented out-of-pocket costs incurred in connection with such recall and the replacement of the recalled CAPTISOL
and the product containing CAPTISOL, not to exceed the limit set forth in Section 9.7. 
 6.10 Compliance. HOVIONE
ensures compliance with all the health authority requirements as well as client requirements through ensuring that all manufacturing and control operations meet the requirements of the HOVIONE QUALITY SYSTEM. This has been established in order to
record and evidence compliance with all requirements. It is the responsibility of HOVIONE to ensure that the HOVIONE QUALITY SYSTEM is being constantly updated in a diligent manner and that it enables HOVIONE to meet the requirements set forth
herein. It is the responsibility of CYDEX to audit HOVIONE a minimum of [***], such [***] and any follow up audit to be at no cost to CYDEX, to a level of detail that CYDEX considers appropriate in order to assure itself that the quality system in
place at HOVIONE is adequate for HOVIONE to meet the requirements that CYDEX has requested of HOVIONE. Should CYDEX identify any system weakness, any event of non-compliance with any of the requirements, or any non-conformity, it shall notify
HOVIONE within [***] by means of an audit report or by means of a complaint. HOVIONE shall respond in writing within [***]. Any audits in excess of the [***] by CYDEX or a CYDEX customer will be charged to CYDEX at a rate to be negotiated in good
faith by the parties. 
  
  

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 6.11 Relationship Management. The parties hereto hereby agree to create a Technical
Committee and a Management Committee. 
 The Technical Committee shall be composed of one representative of each party. Initially, such
representatives shall be: 
  

			
	 •    for CYDEX:
	    	Mr. Doug Hecker
	 •    for HOVIONE:
	    	Mr. Jorge Pastilha

 Each party may designate a
replacement representative to the Technical Committee at any time during the TERM upon written notice to the other party. The Technical Committee shall be in charge of resolving all technical issues relating to the installation and qualification of
the manufacturing facilities of CAPTISOL, change control and all documentation issues, and determining mutually agreeable performance indicators in terms of compliance, quality, supply, service, hygiene, safety and environment and costs and cost
reductions, as set out in this AGREEMENT, in the spirit of continuous improvement. 
 The Management Committee shall be composed of one
representative of each Party. Initially, such representatives shall be 
  

			
	 •    for CYDEX:
	    	Dr. Joseph Lacz
	 •    for HOVIONE:
	    	Mr. David Hoffman

 Each party may designate a
replacement representative to the Management Committee at any time during the TERM upon written notice to the other party. Such Management Committee shall be in charge of reviewing the performance indicators as defined by the Technical Committee,
confirming the UNIT PRICES applicable for each CONTRACT YEAR, managing the relationship between the parties with the aim of continuous improvement and, if necessary, resolving amicably any potential dispute between the parties. 

Meetings of both Committees shall be held as often as necessary upon request of one of its members and at least every [***] months. Decisions of both
Committees shall be taken unanimously by their members. In the event a Committee is unable to reach a unanimous decision, such issue shall constitute a CLAIM and shall be resolved in accordance with the provisions of Section 10.4 of this
AGREEMENT. For each meeting of both Committees, written minutes shall be established and signed by each member. 
 The teams shall operate
according to sound principles of project management which include: 
  

	 	•	 	 Regular meetings face-to-face, by telephone or video-conference with a well-defined agenda and meeting minutes. 

 

	 	•	 	 Well-defined tasks with a defined responsible party and a deadline. All such tasks shall be well-identified in an overall Gantt chart describing the
calendar of the project. 

  
  

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 Meetings of both Committees shall be held either:t i) alternatively, at HOVIONE’s premises in Loures
and at CYDEX’s premises in Kansas City or ii) at HOVIONE’s Technology Transfer Center in East Windsor, New Jersey. The inviting party shall take care of the organization of the meeting, the preparation of the agenda, the drafting and
distribution of the minutes. 
 ARTICLE VII. 
 CONFIDENTIALITY AND PROPRIETARY RIGHTS 
 7.1 Confidentiality. Except
as otherwise provided in this Section 7.1: 
  

	 	(i)	HOVIONE and its AFFILIATES will retain in confidence and use only for the purposes contemplated hereby any CONFIDENTIAL INFORMATION disclosed to it by or on behalf of
CYDEX in connection with the performance of this AGREEMENT; and 

  

	 	(ii)	CYDEX and its AFFILIATES will retain in confidence and use only for the purposes contemplated hereby any CONFIDENTIAL INFORMATION disclosed to it by or on behalf of
HOVIONE in connection with the performance of this AGREEMENT. 

 To the extent it is reasonably necessary or appropriate to
fulfill its obligations or exercise its rights under this AGREEMENT or any rights which survive termination or expiration hereof, each party may disclose CONFIDENTIAL INFORMATION to its AFFILIATES (and with respect to CYDEX, its customers/licensees)
on condition that such entities or persons agree (a) to keep the CONFIDENTIAL INFORMATION confidential to the same extent as each party is required to keep the CONFIDENTIAL INFORMATION confidential and (b) to use the CONFIDENTIAL
INFORMATION only for such purposes as such party is entitled to use the CONFIDENTIAL INFORMATION. 
 7.2 Proprietary
Rights. 
 (a) CYDEX Information. CYDEX shall own and retain all right, title and interest in and to all information,
documents and tangible and intangible materials which CYDEX provides to HOVIONE in connection with this AGREEMENT. 
 (b)
Work Product. CYDEX shall own and shall have all rights to use all information, documents and tangible and intangible materials which result from the performance by HOVIONE of the services contemplated by this AGREEMENT (including, without
limitation, data, test results, measurements, quantitative and qualitative analyses, processes, samples, and inventions and technology relating to CAPTISOL). 
 (c) INVENTIONS. All INVENTIONS relating to CAPTISOL which are conceived or created by HOVIONE and/or its AFFILIATES or their agents or jointly by CYDEX and HOVIONE and/or its AFFILIATES or their
agents in contemplation of or in the course of performing services under this AGREEMENT shall be owned by CYDEX, provided that CYDEX shall and hereby does grant to HOVIONE a perpetual, royalty-free, non-exclusive, world-wide, irrevocable license
(without the right to sublicense) to use and/or practice all such 

  
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INVENTIONS to (i) manufacture CAPTISOL pursuant to this AGREEMENT, and (ii) manufacture and sell any other product not similar to or competitive with CAPTISOL or any other product being
developed or commercialized by CYDEX or its AFFILIATES from time to time. For a period [***] from the EFFECTIVE DATE, CYDEX shall provide HOVIONE with the preferred opportunity to obtain additional manufacturing business from CYDEX to the extent
that INVENTIONS which are conceived or created by HOVIONE and/or its AFFILIATES or their agents or jointly by CYDEX and HOVIONE and/or its AFFILIATES or their agents (i) provide CYDEX an additional period of exclusivity, or (ii) relate to
the synthesis or isolation of CAPTISOL and are required for the performance of the subject manufacturing services. CYDEX shall award such manufacturing business to HOVIONE if (y) HOVIONE has the capability to provide equivalent service quality
as other bidding parties, and (z) HOVIONE’s bid to provide such manufacturing services is not more than [***] percent [***]% of the lowest third party bid. 

(d) Trademarks. CYDEX shall retain all right, title and interest arising under all APPLICABLE LAWS in the
trademark “CAPTISOL®” and all other trademarks and trade names related to or associated with CYDEX or
CAPTISOL and in all other trademarks and trade names which may be adopted with respect to CAPTISOL. 
 (e) Further
Assurances. Upon the reasonable request of CYDEX, HOVIONE and its AFFILIATES shall without additional consideration execute and deliver such assignments and other documents as may be necessary to give effect to the provisions of this
Section 7.2. 
 7.3 Patents. If during the TERM HOVIONE authors one or more patents that become instrumental at
extending the commercial life of CAPTISOL, then at CYDEX’s sole discretion, HOVIONE may be awarded a fee of no less than [***] Dollars ($[***] net per each US patent that issues and is assigned to CYDEX. 

ARTICLE VIII. 
 WARRANTIES 
 8.1 Quality of CAPTISOL. HOVIONE warrants to CYDEX that
all CAPTISOL manufactured and supplied to CYDEX pursuant to this AGREEMENT shall, at the time of delivery pursuant to Section 3.8 hereof: 
  

	 	(i)	meet the SPECIFICATIONS for CAPTISOL in effect at the time of such delivery; 

 
  

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	 	(ii)	not be adulterated within the meaning of the ACT and shall not be an article which may not, under the provisions of the ACT, be introduced into interstate commerce; and

  

	 	(iii)	be free and clear of all liens, security interests and other encumbrances. 

 8.2 Quality of Performance. HOVIONE warrants to CYDEX that the performance of the obligations of HOVIONE hereunder, including without limitation the manufacture and supply of CAPTISOL, shall in all
respects be in accordance with: 
  

	 	(i)	IPEC GMPs; 

  

	 	(ii)	FDA cGMPs; 

  

	 	(iii)	ICH GUIDELINES; and 

  

	 	(iv)	APPLICABLE LAWS. 

 8.3 Mutual
Representations and Warranties. Each party represents and warrants to the other as follows: 
 (a) Power and
Authorization. It has all requisite power and authority (corporate and otherwise) to enter into this AGREEMENT and has duly authorized by all necessary action the execution and delivery hereof by the officer or individual whose name is signed on
its behalf below. 
 (b) No Conflict. Its execution and delivery of this AGREEMENT and the performance of its obligations
hereunder do not and will not conflict with or result in a breach of or a default under its organizational instruments or any other agreement, instrument, order, law or regulation applicable to it or by which it may be bound. 

(c) Enforceability. This AGREEMENT has been duly and validly executed and delivered by it and constitutes its valid and legally
binding obligation, enforceable in accordance with its terms, except as enforcement may be limited by bankruptcy, insolvency or other laws of general application relating to or affecting the enforcement of creditors’ rights and except as
enforcement is subject to general equitable principles. 
 8.4 Exclusion of Other Warranties. EXCEPT AS EXPRESSLY SET
FORTH IN THIS AGREEMENT, EACH PARTY DISCLAIMS ALL WARRANTIES IN RESPECT OF CAPTISOL AND THIS AGREEMENT, WHETHER EXPRESS OR IMPLIED, INCLUDING WITHOUT LIMITATION ANY IMPLIED WARRANTY AS TO MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE.

  
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 ARTICLE IX. 
 INDEMNIFICATION, LIMITATION OF LIABILITY AND INSURANCE 
 9.1
Indemnification by CYDEX. CYDEX shall indemnify, defend and hold harmless HOVIONE and its AFFILIATES, and their employees, officers and directors, and their successors and assigns (each, an “HOVIONE INDEMNIFIED PARTY”), from and
against any and all LIABILITIES which the HOVIONE INDEMNIFIED PARTY may incur, suffer or be required to pay resulting from or arising in connection with the breach of this AGREEMENT by CYDEX or its AFFILIATES, except to the extent that any such
LIABILITY is due to the negligence or wrongful act(s) of a HOVIONE INDEMNIFIED PARTY. 
 9.2 Indemnification by HOVIONE.
HOVIONE shall indemnify, defend and hold harmless CYDEX and its AFFILIATES, employees, officers and directors and its successors and assigns (each, a “CYDEX INDEMNIFIED PARTY”), from and against any and all LIABILITIES which the CYDEX
INDEMNIFIED PARTY may incur, suffer or be required to pay resulting from or arising in connection with the breach of this AGREEMENT by HOVIONE or its AFFILIATES, except to the extent that any such LIABILITY is due to the negligence or wrongful
act(s) of a CYDEX INDEMNIFIED PARTY. 
 9.3 Process of Indemnification. Promptly after an indemnified party becomes aware
of any potential LIABILITY hereunder, such party shall deliver written notice to the indemnifying party, stating the nature of the potential LIABILITY; provided, however, that the delay in giving or the failure to give such
notification shall not affect the indemnification provided hereunder except to the extent the indemnifying party shall have been actually prejudiced as a result of such delay or failure. The indemnified party shall give the indemnifying party such
information with respect to the potential LIABILITY as the indemnifying party may from time to time reasonably request. The indemnifying party shall have the right to conduct the defense of any suit, claim or other proceeding related to the
LIABILITY if it has assumed responsibility for the suit, claim or other proceeding in writing; provided, however, if in the reasonable judgment of the indemnified party, such suit, claim or proceeding involves an issue or matter which
could have a material adverse effect on the business, operations or assets of the indemnified party, the indemnified party may elect, at its own expense, to conduct a separate defense thereof, but in no event shall any such election be construed as
a waiver of any indemnification rights such indemnified party may have under this Article VIII, at law or in equity, or otherwise. If the indemnifying party defends the suit or claim, the indemnified party may participate in (but not control)
the defense thereof at its sole cost and expense; provided, however, that the indemnifying party shall pay the reasonable fees and costs of any separate counsel to the extent such representation is due to a conflict of interest between
the parties. 
 9.4 Settlements. Neither party may settle a claim or action related to a LIABILITY without the consent of
the other party, which consent shall not be unreasonably withheld, if such settlement would impose any monetary obligation on the other party or require the other party to submit to an injunction or otherwise limit the other party’s rights
under this AGREEMENT, and any payment made by a party in such a settlement without obtaining such consent shall be at its own cost and expense. Notwithstanding the foregoing, the indemnifying party will be liable under this Article VIII for any
settlement effected without its consent if the indemnifying party has refused to acknowledge liability for indemnification hereunder and/or declines to defend the 

  
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indemnified party in any such claim, action or proceeding and it is determined by arbitration pursuant to Section 10.4 hereof that the indemnifying party was liable to the indemnified party
for indemnification related to such settlement. 
 9.5 General Liability Insurance. HOVIONE shall obtain and maintain in
effect for the term of this AGREEMENT general liability insurance or indemnity policies with an insurer reasonably satisfactory to CYDEX, in an amount not less than US$[***], which policies shall name CYDEX as an additional insured. 

9.6 CAPTISOL Liability Claims. As soon as it becomes aware, each party shall give the other party prompt written notice of any
claim involving CAPTISOL, any injury alleged to have occurred as a result of the use or application of CAPTISOL, and any circumstances that may give rise to litigation or recall of CAPTISOL or regulatory action that may affect the sale of
manufacture of CAPTISOL, specifying, to the extent the party has such information, the time, place and circumstances thereof and the names and addresses of the persons involved. Each party shall also furnish promptly to the other party copies of all
papers received in respect of any claim, action or suit arising out of such alleged defect or, injury or regulatory action. HOVIONE shall have no responsibility for any CAPTISOL liability claim except to the extent such claim results from the
defective manufacture, storage or handling of CAPTISOL which would constitute a breach by HOVIONE of this AGREEMENT. 
 9.7
Limitation of Liability. With the exception of cases of gross negligence or willful misconduct, HOVIONE’s maximum aggregate liability under this AGREEMENT to CYDEX in all other cases shall not exceed [***]. 

ARTICLE X. 

GENERAL PROVISIONS 
 10.1 FORCE MAJEURE. Neither party shall be held liable or responsible for failure or delay in fulfilling or performing any of its obligations under this AGREEMENT (other than the payment of money
owed hereunder) to the extent that such failure or delay results from any cause to the extent beyond its reasonable control, including, without limitation, fire, flood, typhoon, earthquake, natural disaster, explosion, war, strike, labor unrest,
riot, embargo, acts of terrorism, acts or omissions of carriers, act of God or enactment or revision of any law, rule, regulation or regulatory advisory opinion or order applicable to the manufacturing, marketing, sale, reimbursement and/or pricing
of CAPTISOL (“FORCE MAJEURE”). The supply prices of raw materials and changes in conversion costs shall not be considered to be FORCE MAJEURE. Such excuse shall continue as long as the FORCE MAJEURE event continues, following which such
party shall promptly resume performance hereunder. The party affected by a FORCE MAJEURE event shall notify the other party thereof as promptly as practicable after its 

 
  

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occurrence. Such notice shall describe the nature of such FORCE MAJEURE event and the extent and expected duration of the affected party’s inability fully to perform its obligations
hereunder. The affected party shall use due diligence, where practicable, to minimize the effects of or end any such event so as to facilitate the resumption of full performance hereunder and shall notify the other party when it is again fully able
to perform such obligations. Should the delay resulting from a FORCE MAJEURE event exceed [***], the non-invoking party shall then have the right to terminate this AGREEMENT upon [***] days notice. From the time that any FORCE MAJEURE begins until
such FORCE MAJEURE is fully cured, and for a commercially reasonable period of time thereafter, CYDEX may obtain quantities of CAPTISOL from one or more third parties. CYDEX shall not be obligated to purchase FORECASTED quantities of CAPTISOL if
CYDEX has entered into a contract to purchase CAPTISOL from an ALTERNATE SUPPLIER. 
 10.2 Governing Law. This AGREEMENT
shall be construed in accordance with the laws of the State of Delaware in the United States of America, without giving effect to the principles of conflicts of law thereof. 
 10.3 Headings and References. All section headings contained in this AGREEMENT are for convenience of reference only and shall not affect the meaning or interpretation of this AGREEMENT.

 10.4 Dispute Resolution. 
 (a) Negotiation. Any dispute, controversy or claim arising out of or relating to this AGREEMENT, the validity of this AGREEMENT or the breach or termination of this AGREEMENT or the rights of
either party for indemnification hereunder (each, a “CLAIM”), shall be submitted in the first instance to the Chief Executive Officer of HOVIONE for HOVIONE and the Chief Executive Officer of CYDEX for CYDEX. 

(b) Arbitration. If any CLAIM cannot be resolved by the individuals designated in Section 10.4 (a) within [***] days
after being submitted to them, and except for the right of either party to apply to a court of competent jurisdiction for a temporary restraining order to preserve the status quo or to prevent irreparable harm pending the selection and confirmation
of a panel of arbitrators in accordance herewith, such CLAIM shall be exclusively and finally resolved by arbitration in accordance with the Commercial Arbitration Rules (the “RULES”) of the American Arbitration Association (the
“AAA”) in effect on the day the arbitration is commenced in accordance with this AGREEMENT, except as modified by this Section 10.4. After expiration of the [***] day period pursuant to Section 10.4(a) hereof, either party may
commence arbitration by serving upon the other party a written demand for arbitration sent by a courier service of internationally recognized reputation, in accordance with this AGREEMENT, with a copy of the same delivered by a courier service of
internationally recognized reputation, to the AAA regional office in which either party is then located. The number of arbitrators shall be three (3), one (1) of whom is selected by CYDEX, one (1) of whom is selected by HOVIONE and one
(1) of whom is selected by HOVIONE and CYDEX (or by the other two arbitrators if 
  

 

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the parties cannot, within [***] after the commencement of the arbitration proceeding, agree on the third arbitrator). In the event that either party shall fail to appoint an arbitrator within
[***] days after the commencement of the arbitration proceeding, such arbitrator and the third arbitrator shall be appointed by the AAA in accordance with the RULES. The arbitration award shall be in English rendered by a majority of the members of
the board of arbitration. The panel shall not be entitled to modify this AGREEMENT or the transactions contemplated herein. The arbitration proceeding shall be conducted in the English language and shall be brought in New York, New York, USA unless
the parties agree in writing to conduct the arbitration in another location. The AAA shall have jurisdiction over all parties to this AGREEMENT for purposes of the arbitration and the parties hereby expressly consent to such jurisdiction.

 (c) Arbitral Award. The arbitration decision shall be final and binding. The prevailing party may enter such decision
in any court having competent jurisdiction. Each party hereby expressly waives any right to object to such jurisdiction on the basis of venue or forum non conveniens. Each party waives any right it may have by statute, treaty or
law to contest the jurisdiction or venue of any court or service made pursuant to Section 10.8 (Notices) hereof in an action or proceeding to enforce an arbitral award, including without limitation any right under the Hague Convention on the
Service Abroad of Judicial and Extrajudicial Documents in Civil or Commercial Matters and the Hague Convention on the Taking of Evidence Abroad in Civil or Commercial Matters, and each party agrees that the validity of arbitral awards shall only be
challenged in accordance with Article V of the United Nations Convention on the Recognition and Enforcement of Foreign Arbitral Awards. Each party consents to the jurisdiction and administration of the AAA for purposes of the arbitration
proceedings contemplated herein. 
 (d) Remedies. Notwithstanding any other provision of this AGREEMENT, any party may
apply to a court of competent jurisdiction for an order in the nature of a temporary restraining order or preliminary injunction for purposes of maintaining the status quo pending the final resolution of any dispute pursuant to the arbitration
provisions hereof. The parties shall have all rights and remedies provided under Delaware law related to the enforcement of this AGREEMENT. 
 (e) Expenses. The expenses of any arbitration including the reasonable attorney fees of the prevailing party, shall be borne by the party deemed to be at fault or on a pro-rata basis should the
arbitration conclude in a finding of mutual fault. 
 10.5 Severability, If any provision of this AGREEMENT is held by a
court of competent jurisdiction to be invalid or unenforceable, it shall be modified to the minimum extent necessary to make it valid and enforceable. 
 10.6 Entire Agreement. The Confidential Disclosure Agreement between the parties dated August 8, 2002, this AGREEMENT and the Exhibits hereto constitute the entire AGREEMENT between the
parties relating to the subject matter hereof and supersede all previous writings and understandings, whether oral or written, relating to the subject matter of this AGREEMENT. 

 
  

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 10.7 Amendment. This AGREEMENT may not be amended, supplemented or otherwise modified
except by an instrument in writing signed by the parties that specifically refers to this AGREEMENT. 
 10.8 Notices. Any
notice required or permitted under this AGREEMENT shall be in writing and sent by a courier service of internationally recognized reputation, charges prepaid, or by facsimile transmission with confirmation by reputable courier service, to the
address or facsimile number specified below. Such notices shall be deemed given three [***] days following deposit with such courier service or [***] following such facsimile transmission. 

 

			
	If to HOVIONE:	    	Hovione LLC
		    	40 Lake Drive
		    	East Windsor, New Jersey 08250 USA
		    	Attention: President, US Operations
		    	Facsimile: 609-918-2420
		
	With a copy to:	    	Hovione FarmaCiencia
		    	Sete Casas, Loures
		    	Portugal
		    	Attention: Chief Executive Officer
		    	Facsimile: 01-351-21-982-9498
		
	If to CYDEX:	    	CyDex, Inc.
		    	Suite 470
		    	12980 Metcalf Avenue
		    	Overland Park, Kansas, 66213 USA
		    	Attention: Chief Executive Officer
		    	Facsimile: +1-913-685-8856
		
	With a copy to:	    	CyDex, Inc.
		    	Suite 470
		    	12980 Metcalf Avenue
		    	Overland Park, Kansas, 66213 USA
		    	Attention: General Counsel
		    	Facsimile: +1-913-685-8856

 10.9
Assignment and Binding Effect. Neither party shall assign its rights or delegate or subcontract its duties in whole or in part under this AGREEMENT without the other party’s prior written consent, which consent shall not be unreasonably
withheld or delayed, provided that the assigning party shall guarantee to the other party all of such party’s obligations hereunder and the assignee shall undertake in writing to observe and perform such obligations. Notwithstanding the
foregoing, CYDEX may assign its rights and/or delegate its duties hereunder without the consent of HOVIONE to (i) the purchaser of substantially all of the assets 

 
  

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of CYDEX related to its CAPTISOL business, or (ii) an AFFILIATE of CYDEX. In the event that CYDEX assigns its rights and/or delegates its duties hereunder without the consent of HOVIONE,
then all terms and conditions of this AGREEMENT shall survive and the assignee of such CYDEX rights, or whomsoever CYDEX delegates its right to, shall also enjoy the rights and obligations set out in this AGREEMENT. As a result of such assignment or
delegation, or whatever transfer, HOVIONE’s rights hereunder may not be hurt, reduced or affected. CYDEX acknowledges that HOVIONE may determine which HOVIONE party hereto (i.e., AGENT, HOVIONE SA, HOVIONE LIMITED or HOVIONE
INTERNATIONAL) shall perform particular obligations hereunder. Any other assignment shall be void. Any other delegation or subcontracting shall be a breach of this AGREEMENT. 
 10.10 No Agency. It is understood and agreed that each party shall have the status of an independent contractor under this AGREEMENT and that nothing in this AGREEMENT shall be construed as
authorization for either party (as between CYDEX and HOVIONE) to act as agent for the other, provided that HOVIONE represents and warrants to CYDEX that AGENT is duly authorized to act for and legally bind all of the HOVIONE parties related to this
AGREEMENT. 
 10.11 No Strict Construction. This AGREEMENT has been prepared jointly and shall not be strictly construed
against any party. 
 10.12 Counterparts. This AGREEMENT may be executed in multiple counterparts, each of which shall be
an original as against any party whose signature appears thereon but both of which together shall constitute one and the same instrument. 
 Remainder of this page left blank intentionally. 

  
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 IN WITNESS WHEREOF, the parties, through their authorized representatives, have duly
executed this AGREEMENT as of the date first written above. 
  

									
	CYDEX, INC.	 		 	HOVIONE LLC
					
	By:	 	 /s/ Edward W. Mehrer
	 		 	By:	 	 /s/ David Hoffman

	Name:	 	 EDWARD W. MEHRER
	 		 	Name:	 	 DAVID HOFFMAN

	Title:	 	 Chief Executive and Pres.
	 		 	Title:	 	 PRESIDENT US OPERATIONS

	Date:	 	 1/10/03
	 		 	Date:	 	 7 JAN. 2003

					
	By:	 	 /s/ Susan M. Gardner
	 		 	By:	 	 /s/ Lavinia Emery

	Name:	 	 Susan M. Gardner
	 		 	Name:	 	 Lavinia Emery

	Title:	 	 VP & General Counsel
	 		 	Title:	 	 Office Manager

	Date:	 	 1/10/03
	 		 	Date:	 	 7 Jan. 2003

				
	Accepted and agreed:	 		 		 	
	HOVIONE FARMACIENCIA S.A.	 		 	HOVIONE PHARMASCIENCE LIMITED
					
	By:	 	 /s/ Noé Carreira
	 		 	By:	 	 /s/ G. Villax

	Name:	 	 NOÉ CARREIRA
	 		 	Name:	 	 G. Villax

	Title:	 	 S.TE GENERAL MANAGER - DIRECTOR
	 		 	Title:	 	 Chief Executive & Director

	Date:	 	 20 DEC 2002 in LOURES
	 		 	Date:	 	 23 DEC 2002 in Montella

					
	By:	 	 /s/ Jorge Pasticha
	 		 	By:	 	 /s/ Christina Bismarck

	Name:	 	 JORGE PASTICHA
	 		 	Name:	 	 CHRISTINA BISMARCK

	Title:	 	 DIRECTOR – CONTROL AND LOGISTICS
	 		 	Title:	 	 —

	Date:	 	 20 December 2002
	 		 	Date:	 	 Montella, 23 December 2002

				
	HOVIONE INTERNATIONAL LIMITED	 		 		 	
					
	By:	 	 /s/ G. Villax
	 		 		 	
	Name:	 	 G. Villax
	 		 		 	
	Title:	 	 Chief Executive & Director
	 		 		 	
	Date:	 	 23 DEC 2002 in Montella
	 		 		 	
					
	By:	 	 /s/ Christina Bismarck
	 		 		 	
	Name:	 	 CHRISTINA BISMARCK
	 		 		 	
	Title:	 	 —
	 		 		 	
	Date:	 	 Montella, 23 December 2002
	 		 		 	

  
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 EXHIBIT A 
 Initial CAPTISOL SPECIFICATIONS 
 [***] 

 
  

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 Exhibit B 
 MANUFACTURING PROCESS DESCRIPTION 
 [***] 

 
  

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 Exhibit C 
 Engineering and Validation Process [***] 
 [***]. 

 
  

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 EXHIBIT D 
 CALCULATION OF ADJUSTED UNIT PRICES 
 FOR CERTAIN CURRENCY EXCHANGE RATE
DEVIATIONS 
 [***] 
  

 

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 EXHIBIT E 
 MANUFACTURING EFFICIENCY 
 [***] 
  
  

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