Document:

EX-10.9

 Exhibit 10.9 
  

 
 CANADIAN PLEDGE AGREEMENT 

THIS CANADIAN PLEDGE AGREEMENT is entered into effective as of June 30, 2015, by and between NewStar Business Credit,
LLC, a Delaware limited liability company, as Administrative Agent (the “Secured Party”) for the Lenders (as defined below) under the Loan Agreement (as defined below), and Mad Catz Interactive, Inc., a corporation organized under
the Canada Business Corporations Act (the “Pledgor”). 
 WHEREAS, Mad Catz, Inc. (together
with its successors and assigns, the “Borrower”), 1328158 Ontario Inc., Parent, Pledgor, Secured Party and the lenders from time to time party thereto (the “Lenders”) have entered into that certain Loan and Security
Agreement, dated of even date herewith (as amended, restated, supplemented or otherwise modified from time to time, the “Loan Agreement”), pursuant to which the Lenders have agreed to make available a revolving line of credit to the
Borrower, all in accordance with and subject to the terms and conditions set forth in the Loan Agreement; 
 WHEREAS,
the Pledgor owns 100% of the Equity Interests in the Borrower; 
 WHEREAS, it is a condition precedent to the
Lenders’ obligations to make the Loans and advances under the Loan Agreement, that the Pledgor, among other things, shall (a) execute and deliver a Canadian Guaranty Agreement of even date herewith in favour of Secured Party, for the
benefit of Lender Parties, guarantying all obligations of the Borrower under the Loan Agreement and the other Loan Documents and (b) execute and deliver this Agreement and pledge to Secured Party, for the benefit of the Lender Parties, the
Pledged Collateral (as hereinafter defined) as security for the Pledgor’s Secured Obligations (as hereinafter defined); 

WHEREAS, Pledgor acknowledges and confirms that, (a) it will directly or indirectly benefit from the Loans from
Lenders to the Borrower, (b) the Loans constitute valuable consideration to Pledgor, (c) this Agreement is intended to be an inducement to Lenders to execute, deliver and perform the Loan Agreement and the other Loan Documents and for
Lenders to extend the Loans to the Borrower, and (d) each Lender is relying upon this Agreement in making and advancing the Loans to the Borrower; 

NOW, THEREFORE, in consideration of the foregoing and of the mutual covenants and agreements hereinafter set forth, the
receipt and sufficiency of which are hereby acknowledged, and as an inducement for Secured Party and each Lender to enter into the Loan Agreement and other Loan Documents, the parties hereto, intending to be legally bound hereby, do agree as
follows: 
  

	1.	 DEFINITIONS AND REFERENCES 

  

	 	1.1.	 Defined Terms 

As used in this Agreement (including the recitals hereof), the following terms shall have the meanings specified in this
Section 1.1: 

 “Agreement” means this Canadian Pledge
Agreement, as amended, restated, supplemented or otherwise modified from time to time in accordance with the terms hereof. 

“Company Rights” means, collectively, all LLC Rights, all Partnership Rights and all Pledged
Shares. 
 “Company Rights to Payments” means, collectively, all LLC Rights to Payments,
all Partnership Rights to Payments and all rights in respect of Pledged Shares described in item (iii) of the definition thereof. 

“Domestic Subsidiary” means any subsidiary of Pledgor that is organized under the laws of
the United States of America, any state thereof, the District of Columbia, Canada or any province or territory of Canada. 

“Equity Interest” means, with respect to any Person, shares of capital stock, partnership
interests, membership interests in a limited liability company, beneficial interests in a trust or other equity ownership interests in a Person, and any warrants, options or other rights entitling the holder thereof to purchase or acquire any such
interest. 
 “Issuer” means each of MCI, MCC and each other Domestic Subsidiary of
Pledgor. 
 “Lender Parties” means, collectively, Secured Party and Lenders. 

“LLC Agreements” means, collectively, any and all articles or certificates forming any
Issuer that is a limited liability company now owned or hereafter acquired by the Pledgor and any operating agreement, limited liability company agreement or other agreement governing any such Issuer or the relations among the members and/or
managers of any such Issuer. 
 “LLC Rights” means, collectively, all LLC Units, all LLC
Rights to Payments, all LLC Agreements and all other interests and rights of Pledgor in any limited liability company Issuer now owned or hereafter acquired by Pledgor, including without limitation any right to cause the dissolution of any such
Issuer or to appoint or nominate a successor to Pledgor as a member of any such Issuer and all Proceeds of the foregoing. 

“LLC Rights to Payments” means, collectively, all proceeds, interest, profits, and other
payments or rights to payment attributable to Pledgor’s interests in any limited liability company Issuer now owned or hereafter acquired by Pledgor, and all distributions, cash, instruments and other property now or hereafter received,
receivable or otherwise made with respect to or in exchange for any interest of Pledgor in any such Issuer, including interim distributions, returns of capital, loan repayments, and payments made in liquidation of any such Issuer, and whether or not
the same arise or are payable under any LLC Agreements. 
 “LLC Units” means,
collectively, (i) all membership or limited liability company ownership interests or other ownership interests of Pledgor in any limited liability company Issuer, whether now owned or hereafter acquired by Pledgor, including without limitation,
the limited liability companies listed on Schedule 1.1 and, (ii) all certificates representing any such units, all options and other rights, contractual or otherwise, at any time existing with respect to such units, and all dividends, cash,
instruments and other property now or 

 
hereafter received, receivable or otherwise distributed in respect of or in exchange for any or all of such units. 

“Obligor” means the Pledgor, the Borrower and any other Person who may now or may at any
time hereafter be primarily or secondarily liable for any of the Secured Obligations or who may now or may at any time hereafter have granted to Secured Party a lien upon any property as security for the Secured Obligations. 

“Partnership” means any general partnership, limited liability partnership or limited
partnership Issuer and any successor of any such partnership. 
 “Partnership Agreements”
means, collectively, any articles or certificate forming any Partnership now owned or hereafter acquired by the Pledgor or any partnership agreement or any other agreement governing any such Partnership or the relations among the partners in any
such Partnership. 
 “Partnership Rights” means, collectively, the Partnership Rights to
Payments, the Partnership Agreements and all other interests and rights of the Pledgor in any Partnership now owned or hereafter acquired by the Pledgor, including without limitation any right to cause the dissolution of such Partnership or to
appoint or nominate a successor to the Pledgor as a partner in such Partnership and all Proceeds of the foregoing. 

“Partnership Rights to Payments” means, collectively, (i) all proceeds, interest,
profits, and other payments or rights to payment attributable to the Pledgor’s interests in any Partnership now owned or hereafter acquired by the Pledgor, including without limitation, the Partnerships listed on Schedule 1.1, and
(ii) all distributions, cash, instruments and other property now or hereafter received, receivable or otherwise made with respect to or in exchange for any interest of the Pledgor in any such Partnership, including interim distributions,
returns of capital, loan repayments, and payments made in liquidation of any such Partnership, and whether or not the same arise or are payable under any Partnership Agreements. 

“Partnership Units” means, collectively, (i) all partnership, limited partnership or
limited liability partnership interests of Pledgor in any Issuer that is a limited partnership or a limited liability partnership and, (ii) all certificates representing any such units, all options and other rights, contractual or otherwise, at
any time existing with respect to such units, and all dividends, cash instruments and other property now or hereafter received, receivable, or otherwise distributed in respect of or in exchange for any or all of such units. 

“Pledged Collateral” means, collectively and each individually, (i) the Company Rights,
(ii) the Company Rights to Payments and (iii) any and all replacements, products and cash and non-cash proceeds of, and dividends, distributions in property, returns of capital or other distributions made on or with respect to, any of the
foregoing Equity Interests and ownership interests. 
 “Pledged Shares” means,
collectively, (i) all of the issued and outstanding shares of stock or other Equity Interests or securities of the Pledgor in any Issuer owned or held of record or beneficially by the Pledgor on the date hereof, including but not limited to
such shares of stock and equity securities described in Schedule 1.1; (ii) all other shares of stock or other equity securities now owned or hereafter acquired by the Pledgor in an Issuer, whether of the Issuers listed on Schedule
1.1 or any other Person; (iii) all certificates representing any such shares and equity securities, all options, and other rights, contractual or otherwise, at any time 

 
existing with respect to such shares, and all distributions, dividends, cash, instruments and other property now or hereafter received, receivable or otherwise distributed in respect of or in
exchange for any interest of Pledgor in any corporate Issuer, including interim distributions, returns of capital loan repayments and payments made in liquidation of any such Issuer, and whether or not the same arise or are payable under any
articles or certificate of incorporation or the bylaws of such Issuer; and (iv) any articles of certificate of incorporation forming any corporate Issuer now owned or hereafter acquired by the Pledgor or any bylaws or other agreement governing
any such Issuer or the relations among the shareholders of any such Issuer and all rights thereunder. 

“PPSA” means the Personal Property Security Act , RSO 1990, c P.10 as in effect in
the Province of Ontario from time to time or, when the laws of any other jurisdiction govern the perfection, priority or enforcement of any Lien, the Personal Property Security Act or such other applicable legislation in effect from time to
time in such other jurisdiction 
 “Secured Obligations” has the meaning given to such
term in Section 2(a) hereof. 
 “STA” means the Securities Transfer Act 2006,
SO 2006, c. 8. 
 “STA Issuer” means an “issuer” as defined in the
STA. 
 “ULC” means an issuer that is an unlimited company or unlimited liability company.

 “ULC Laws” means the Companies Act (Nova Scotia), the Business Corporations
Act (Alberta), the Business Corporations Act (British Columbia), and any other present or future laws governing ULCs. 

“ULC Shares” means shares or other equity interests in the capital stock of a ULC. 

 

	 	1.2.	 Accounting Terms 

Unless otherwise specified, as used in this Agreement or in any certificate, report, instrument or other document made or
delivered pursuant to this Agreement, all accounting terms not defined in this Agreement or in the Loan Agreement shall have the meanings given to such terms in and shall be interpreted in accordance with GAAP (as defined in the Loan Agreement).

  

	 	1.3.	 Other Definitional Provisions 

All capitalized terms in this Agreement (including the recitals hereof) and not defined herein shall have the defined meanings
provided in the Loan Agreement. Whenever the context so requires, each reference to gender includes the masculine and feminine, the singular number includes the plural and vice versa. 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 references to section, article, annex, schedule, exhibit and like
references are references to this Agreement unless otherwise specified. A Default or Event of Default shall “continue” or be “continuing” until such Default or Event of Default has been cured or waived by Secured Party in
writing. References in this Agreement to any Person shall include such Person and its successors and permitted assigns. 

	2.	 PLEDGE OF COLLATERAL 

(a) Pledgor hereby (i) pledges and assigns to Secured Party, for the benefit of the Lender Parties, all
of its right, title and interest in and to the Pledged Collateral, whether now or hereafter existing and (ii) grants to Secured Party, for the benefit of the Lender Parties, a continuing first priority security interest in, assignment of and
lien upon the Pledged Collateral, whether now or hereafter existing and the proceeds thereof, as continuing collateral security for the due and punctual payment and performance for (1) the payment by Pledgor, when due and payable, of all
amounts from time to time owing by Pledgor under or in respect of the Canadian Guaranty Agreement or any other Loan Document, and the due performance by Pledgor of all of its other respective obligations under or in respect of the Canadian Guaranty
Agreement or any other Loan Document, in each case whether now existing or hereafter incurred or arising, (2) all other sums payable by the Pledgor under the other Loan Documents, whether for principal, interest, fees or otherwise, whether now
existing or hereafter incurred or arising, and (3) all renewals, extensions, amendments, modifications, supplements, or restatements of or substitutions for any of the foregoing described in subsections (a)(1) through (a)(2) (all such
obligations, indebtedness and liabilities described in (a)(1) through (a)(3) collectively, the “Secured Obligations”). 

As used herein, the term “Secured Obligations” refers to all present and future indebtedness, obligations and liabilities of
whatever type which are described above in this section, including any interest which accrues after the commencement of any case, proceeding, or other action relating to the bankruptcy, insolvency, or reorganization of Pledgor or any Issuer.
Notwithstanding anything in this Agreement to the contrary, the Secured Obligations shall be limited to a maximum aggregate amount equal to the largest amount that would render this Agreement and/or the security interest granted hereunder subject to
avoidance as a fraudulent transfer or conveyance under Applicable Law. 
 (b) The Pledgor shall
(i) deliver to Secured Party all certificates or instruments evidencing or representing the Pledged Collateral, and (ii) deliver to Secured Party all certificates or instruments evidencing or representing any additional Pledged Collateral
within five (5) Business Days after the Pledgor’s acquisition of such Pledged Collateral. Until such time as Pledgor has delivered all certificates or instruments evidencing or representing the Pledged Collateral to Secured Party, the
Pledgor shall hold such certificates and/or instruments as bailee and agent for the Secured Party. Each such certificate and instrument shall be registered in the name of the Pledgor, duly endorsed in blank or accompanied by an equity power duly
executed by the Pledgor in blank, in form and substance reasonably satisfactory to Secured Party, with any and all documentary tax stamps and other documents necessary to cause Secured Party to have a good, valid and perfected continuing first
priority pledge of, Lien on and security interest in the Pledged Collateral, free and clear of any other mortgage, pledge, Lien, security interest, hypothecation, assignment, charge, right, encumbrance or transfer or other restriction (individually,
an “Encumbrance” and collectively, “Encumbrances”), including, without limitation, any necessary notations in the record books of the Pledgor or the entity in which such equity or ownership interests evidence an
ownership stake. At any time following the occurrence and during the continuation of an Event of Default, any or all of the Pledged Collateral, at the option of Secured Party exercised in accordance with Section 3(d) hereof, may be
registered in the name of Secured Party or of its nominee, and the Pledgor hereby covenants that, upon demand therefor by Secured Party, the Pledgor shall, or shall cause the Issuer in which such equity or ownership interests evidence an ownership
stake to, effect such registration. 
 (c) Secured Party shall have the right, but not the obligation, to
pay any taxes or levies on or relating to the Pledged Collateral and any costs to preserve the Pledged Collateral, which payments shall be made for the account of the Pledgor and shall constitute a part of the Obligations. 

 (d) Within five (5) Business Days of any request by the
Secured Party, the Pledgor, at Pledgor’s own cost and expense, will duly execute and deliver to Secured Party such financing statements, continuation statements, assignments, certificates and/or such other agreements, assignments, instructions
or documents as Secured Party may reasonably request relating to the Pledged Collateral or otherwise to enable Secured Party to create, maintain and perfect or from time to time renew the security interests granted hereby or to create, maintain and
perfect a security interest in any additional Pledged Collateral hereafter acquired by Pledgor or in any and all additions to and/or replacements, products and proceeds of any of the foregoing, all in form and substance reasonably satisfactory to
Secured Party. Pledgor will pay all reasonable fees, costs and expenses associated therewith, including without limitation, the cost of filing any of the foregoing in all public offices or other locations wherever Secured Party deems filing to be
necessary or desirable. Pledgor irrevocably grants Secured Party the right, at Secured Party’s option, to file any or all of the foregoing pursuant to the PPSA or STA and otherwise without Pledgor’s signature, and Pledgor irrevocably
appoints Secured Party as Pledgor’s attorney in fact to execute any of the foregoing in Pledgor’s name and to perform all other acts that Secured Party deems appropriate to perfect and continue the security interests conferred by this
Agreement or otherwise to effect fully the purposes, terms and conditions of this Agreement, the Loan Agreement and the other Loan Documents. 

(e) No injury to, or loss or destruction of, the Pledged Collateral or any Material Adverse Effect shall
relieve Pledgor of any of the Secured Obligations. 
  

	3.	 VOTING RIGHTS, DIVIDENDS AND DISTRIBUTIONS 

(a) So long as no Event of Default shall have occurred and be continuing or would result from or be caused by
any of the following: 
 (i) Pledgor shall be entitled to exercise any and all voting and/or consensual
rights and powers relating or pertaining to the Pledged Collateral or any part thereof, subject to the terms hereof; 

(ii) Pledgor shall be entitled to receive and retain any and all Company Rights to Payments paid in cash in
respect of the Pledged Collateral; provided, however, that, any and all Company Rights to Payments (other than with respect to ULC Shares) paid or payable other than in cash (including, without limitation, stock and liquidating
dividends) in respect of, and instruments and other property received, receivable or otherwise distributed in respect of or in exchange for, any Pledged Collateral whether resulting from a subdivision, combination or reclassification of the
outstanding Equity Interests or other ownership interests of any Issuer or any other Person or received in exchange for the Pledged Collateral or any part thereof or as a result of any merger, amalgamation, consolidation, acquisition, transfer, sale
or disposition of any Issuer or the Pledged Collateral or other exchange of assets to which Pledgor or any Issuer may be a party or otherwise, and any and all cash and other property received in exchange for or redemption of any of the Pledged
Collateral, shall be, and shall promptly, and in any event within two (2) Business Days of receipt thereof, be delivered to Secured Party to hold as, Pledged Collateral and shall, if received by Pledgor, be received in trust for the benefit of
Secured Party, be segregated from the other property or funds of Pledgor and be forthwith delivered to Secured Party in the exact form received with any necessary endorsement or appropriate stock powers duly executed in blank, to be held by Secured
Party as Pledged Collateral; 
 (iii) Secured Party shall execute and deliver (or cause to be executed and
delivered) to Pledgor all such proxies, powers of attorney, dividend orders, interest orders and other instruments (other than with respect to ULC Shares) as Pledgor may request for the purpose 

 
of enabling Pledgor to exercise the voting and/or consensual rights and powers that Pledgor is entitled to exercise pursuant to Section 3(a) and/or to receive the Company Rights to
Payments that Pledgor is authorized to receive and retain pursuant to Section 3(a); and Pledgor shall execute and deliver to Secured Party all proxies, powers of attorney, dividend orders, interest orders and other instruments and
documents (other than with respect to ULC Shares) as may be required or may be requested by Secured Party to enable Secured Party to receive and retain the Company Rights to Payments in property, returns of capital and other distributions it is
authorized to receive and retain pursuant to Section 3(b); and 
 (b) Upon the occurrence and
during the continuation of an Event of Default: 
 (i) all rights of the Pledgor to receive the Company
Rights to Payments (other than with respect to ULC Shares) that Pledgor is authorized to receive and retain pursuant to Section 3(a)(ii) shall cease immediately, without any notice to Pledgor or action by or on behalf of Secured Party or
any other Person, and all such rights thereupon shall become vested in Secured Party automatically without any action by any Person, and Secured Party shall have the sole and exclusive right and authority to receive and retain such Company Rights to
Payments. Upon notice by the Secured Party to the Pledgor, the Secured Party may elect to terminate the Pledgor’s rights to exercise the voting and/or consensual rights and powers that Pledgor is entitled to exercise pursuant to
Section 3(a)(i) and upon the delivery of such notice, the Secured Party shall have the sole and exclusive right and authority to exercise such voting and/or consensual rights and powers. In such case, Pledgor shall execute and deliver
such proxies, powers of attorney, dividend orders, interest orders and other instruments and documents as Secured Party may request to enable Secured Party to exercise such rights and receive such Company Rights to Payments. In addition, Secured
Party is hereby appointed the attorney-in-fact of Pledgor, with full power of substitution, which appointment as attorney-in-fact is irrevocable and coupled with an interest, to take all such actions after the occurrence and continuation of an Event
of Default, whether in the name of Secured Party or Pledgor, as Secured Party may consider necessary or desirable for the purpose of exercising such rights and receiving such Company Rights to Payments. Any and all money and other property paid over
to or received by Secured Party pursuant to the provisions of this Section 3(b)(i) shall be retained by Secured Party as part of the Pledged Collateral and shall be applied in accordance with the provisions hereof and the Loan Agreement;

 (ii) without limiting the generality of the foregoing, Secured Party may at its option (other than with
respect to ULC Shares) exercise any and all rights of conversion, exchange, subscription or any other rights, privileges or options pertaining to any of the Pledged Collateral (other than, except as otherwise expressly allowed hereunder, voting
rights pertaining to the Pledged Collateral or any part thereof), as if it were the absolute owner thereof, including, without limitation, the right to exchange, in its discretion, any and all of the Pledged Collateral upon the merger, amalgamation,
consolidation, reorganization, recapitalization or other adjustment of any Issuer, or upon the exercise by any Issuer of any right, privilege or option pertaining to any Pledged Collateral, and, in connection therewith, to deposit and deliver any
and all of the Pledged Collateral with any committee, depository, transfer agent, registrar or other designated agent upon such terms and conditions as it may determine and any and all rights to dissolve any Issuer or to compel distribution of any
Issuer’s assets; and 
 (iii) all Company Rights to Payments of any kind in respect of Pledged
Collateral (other than with respect to ULC Shares) which are received by Pledgor contrary to the provisions of subsection (b)(i) and (b)(ii) of this section shall be received in trust for the benefit of Secured Party, shall be segregated from other
funds of Pledgor, and shall be forthwith paid 

 
over to Secured Party as Pledged Collateral in the exact form received, to be held by Secured Party as Pledged Collateral. 

 

	4.	 REMEDIES ON DEFAULT 

(a) Notwithstanding and without limiting any other provision of this Agreement, the Loan Agreement or any of
the Loan Documents, if at any time an Event of Default shall have occurred and be continuing, then, Secured Party may from time to time in its discretion, without limitation and without notice except as expressly provided below or by law: 

(i) exercise in respect of the Pledged Collateral, in addition to any other rights or remedies provided for
herein, under the other Loan Documents or otherwise available to it, all the rights and remedies of a secured party upon default under the PPSA or STA (whether or not the PPSA or STA applies to the affected Pledged Collateral); and 

(ii) to the extent permitted by applicable law, without being required to give any notice to Pledgor or to
take or do any action (except as provided below or by law): 
 (A) apply any cash held by it hereunder in
the manner provided in Section 4(l); and 
 (B) collect, receive, appropriate and realize upon
the Pledged Collateral or any part thereof, and/or sell, assign, transfer, contract to sell or otherwise dispose of and deliver the Pledged Collateral or any part thereof, in its entirety or in portions, at public or private sale or at any
broker’s board, on any securities exchange or at any of Secured Party’s places of business or elsewhere, for cash, upon credit or for future delivery, and at such price or prices as Secured Party may deem best, and Secured Party may
(except as otherwise provided by law) be the purchaser of any or all of the Pledged Collateral so sold and thereafter may hold the same, absolutely, free from any right or claim of whatsoever kind. 

(b) In the event of a sale as aforesaid, Secured Party may, at any such sale, if it deems it advisable to do
so, restrict the number of prospective bidders or purchasers and/or further restrict such prospective bidders or purchasers to Persons who will represent and agree that they are purchasing for their own account, for investment and not with a view to
the distribution or resale of the Pledged Collateral, and may otherwise require that such sale be conducted subject to restrictions as to such other matters as Secured Party may deem necessary in order that such sale may be effected in such manner
as to comply with all applicable state and federal securities and other laws. Upon any such sale, Secured Party shall have the right to deliver, assign and transfer the Pledged Collateral so sold to the purchaser thereof. 

(c) Pledgor hereby acknowledges that, notwithstanding that a higher price might be obtained for the Pledged
Collateral at a public sale than at a private sale or sales, the making of a public sale of the Pledged Collateral may be subject to registration requirements under applicable securities laws and other legal restrictions, compliance with which would
require such actions on the part of Pledgor, would entail such expenses and would subject Secured Party, any underwriter through whom the Pledged Collateral may be sold or any controlling person of any of the foregoing to such liabilities, as would
make a public sale of the Pledged Collateral impractical. Accordingly, Pledgor hereby agrees that private sales made by Secured Party in good faith in accordance with the provisions of this Article 4, may be at prices and on other terms
less favourable to the Pledgor than if the Pledged Collateral were sold at a public sale, and that Secured Party shall not have any obligation to take any 

 
steps in order to permit the Pledged Collateral to be sold at a public sale, such a private sale being considered or deemed to be a sale in a commercially reasonable manner and that Secured Party
shall have no obligation to delay the sale of any Pledged Collateral for the period of time necessary to permit their registration or other qualification under applicable securities legislation. Pledgor further acknowledges and agrees that any offer
to sell any Pledged Collateral which has been (i) publicly advertised on a bona fide basis in a newspaper or other publication of general circulation in the financial community of Toronto, Ontario (to the extent that such an offer
may be so advertised without prior registration under applicable law, or (ii) made privately in the manner described above to not less than fifteen (15) bona fide offerees shall be deemed to involve a public sale, and that
Secured Party or one or more of the Lender Parties may, in such event, bid for the purchase of such Pledged Collateral. 

(d) Pledgor also hereby acknowledges that any private sale of the Pledged Collateral may be subject to
compliance with federal, provincial and territorial securities and/or other laws. 
 (e) Each purchaser at
any such sale shall hold the property sold, absolutely free from any claim or right whatsoever, including any equity or right of redemption of Pledgor, and Pledgor hereby specifically waives all rights of redemption, stay or appraisal and other
rights that Pledgor has or may have under any law, regulation or statute now existing or hereafter adopted or otherwise. Secured Party shall give Pledgor not less than ten (10) calendar days written notice of its intention to make any such
public or private sale. In the case of a public sale, such notice shall state the time and place fixed for such sale, and, in case of a sale at broker’s board, on a securities exchange, at one or more of Secured Party’s places of business
or elsewhere, shall state the board, exchange or other location at which such sale is to be made and the day on which the Pledged Collateral, or that portion thereof so being sold, will first be offered for sale at such location. In the case of a
private sale, such notice shall state only the date on or after which such sale may be made. Any such notice given as aforesaid shall be deemed to be reasonable notification. 

(f) Any such public sale shall be held at such time or times within ordinary business hours and at such place
or places as Secured Party may fix in the notice of such sale. At any sale the Pledged Collateral may be sold in one lot as an entirety or in parts, as Secured Party may determine. Secured Party shall not be obligated to make any sale pursuant to
any such notice. Secured Party may, without notice or publication, adjourn any sale or cause the same to be adjourned from time to time by announcement at the time and place fixed for the sale, and such sale may be made at any time or place to which
the same may be so adjourned. In case of any sale of all or any part of the Pledged Collateral on credit or for future delivery, the Pledged Collateral so sold may be retained by Secured Party until the selling price is paid by the purchaser
thereof, but Secured Party shall not incur any liability in case of the failure of such purchaser to take up and pay for the Pledged Collateral so sold and, in case of any such failure, such Pledged Collateral may again be sold upon like notice.

 (g) Secured Party, instead of exercising the power of sale herein conferred upon it, may proceed by a
suit or suits at law or in equity to foreclose its lien or security interest arising from this Agreement and sell the Pledged Collateral, or any portion thereof, under a judgment or decree of a court or courts of competent jurisdiction. 

(h) On any sale of any part of the Pledged Collateral, Secured Party is hereby authorized to comply with any
limitation or restriction in connection with such sale that may be necessary in order to avoid any violation of applicable law or in order to obtain any required approval of the purchaser(s) by any Governmental Authority. 

(i) Pledgor hereby acknowledges, understands and agrees that Secured Party (i) may exercise its rights
under the Loan Agreement and the other Loan Documents, whether or not they 

 
provide security for any of the Secured Obligations, without exercising its rights hereunder or affecting the security provided hereunder, and (ii) may proceed against all or any portion of
the Pledged Collateral and all other collateral securing any of the Secured Obligations in such order and at such time as determined by Secured Party in its sole discretion. Pledgor hereby expressly waives any rights under the doctrine of
marshalling of assets. 
 (j) Pledgor hereby acknowledges, understands and agrees that compliance with the
foregoing procedures shall satisfy any applicable requirements that such sale or disposition be made in a commercially reasonable manner, and shall result in such sale or disposition being considered and deemed to have been made in a commercially
reasonable manner. 
 (k) Each of the rights, powers and remedies provided herein, or in the Loan Agreement
or any Loan Document, or now or hereafter existing at law, in equity, by statute or otherwise shall be cumulative and concurrent and shall be in addition to every other right, power or remedy provided for herein or therein or now or hereafter
existing at law, in equity, by statute or otherwise. The exercise of any such right, power or remedy shall not preclude the simultaneous or later exercise of any or all other such rights, powers or remedies. No notice to or demand on Pledgor in any
case shall entitle Pledgor to any other notice or demand in similar or other circumstances. 
 (l) The
proceeds of any collection, recovery, receipt, appropriation, realization, transfer, exchange, disposition or sale as aforesaid shall be applied by Secured Party as provided in the Loan Agreement. 

 

	5.	 REPRESENTATIONS, WARRANTIES AND COVENANTS OF PLEDGOR 

(a) Pledgor represents and warrants to Secured Party as of the date hereof and as of the date of each request
for Revolving Loan (which representations and warranties shall survive the execution and delivery of this Agreement and the making of Loans and advances under the Loan Agreement) as follows: 

(i) it has full legal capacity and all requisite power, right and authority to (A) own the Pledged
Collateral, (B) execute, deliver and perform this Agreement, (C) pledge the Pledged Collateral, and (D) grant the security interests and Liens in the Pledged Collateral pursuant to this Agreement and otherwise consummate the
transactions contemplated under this Agreement and the other Loan Documents to which it is a party, and Pledgor is under no legal restriction, limitation or disability that would prevent it from doing any of the foregoing; 

(ii) this Agreement has been duly executed and delivered by Pledgor and constitutes the legal, valid and
binding obligation of Pledgor, enforceable against Pledgor in accordance with its terms, subject to the effect of any applicable bankruptcy, moratorium, insolvency, reorganization or other similar law affecting the enforceability of creditors’
rights generally and to the effect of general principles of equity which may limit the availability of equitable remedies (whether in a proceeding at law or in equity); 

(iii) Pledgor is the direct record and beneficial owner of each security and other interest that comprises
the Pledged Collateral, and Pledgor has and will have good, valid and marketable title thereto, free and clear of all Encumbrances other than the security interests created by this Agreement and other Permitted Liens; 

(iv) all of the Pledged Collateral has been duly authorized and validly issued, are fully paid and (other
than with respect to limited liability company and partnership interests) 

 
non-assessable and none of the Pledged Collateral was issued in violation of the preemptive rights of any Person or of any agreement by which Pledgor or any Issuer is bound; 

(v) the Pledged Collateral described on Schedule 1.1 attached hereto constitute 100% of (1) the
issued and outstanding partnership interests of each Partnership if any, (2) the issued and outstanding LLC Units of each limited liability company Issuer, if any, (3) the issued and outstanding ULC Shares of each unlimited liability
company Issuer, if any, and (4) the issued and outstanding Pledged Shares of each corporate Issuer, in each case that is owned by Pledgor as of the date hereof; 

(vi) the Pledged Collateral is and will be duly and validly pledged to Secured Party in accordance with
applicable law, and Secured Party has a good, valid and perfected first priority Lien on and security interest in the Pledged Collateral and the proceeds thereof subject to no Liens in favour of any other Person (other than Permitted Liens), and no
filing or other action will be necessary to perfect or protect such lien or security interest other than the filing of any financing statement under the PPSA in the jurisdiction where the Pledgor is located (as determined in accordance with the
PPSA) naming Pledgor, as debtor, and Secured Party, as secured party, and describing the Pledged Collateral and delivery to Secured Party of any certificates evidencing the Pledged Collateral (properly endorsed for transfer to Secured Party or in
blank); 
 (vii) the execution, delivery and performance by Pledgor of this Agreement and the consummation
of the transactions and the creation and granting of the security interests and liens contemplated thereby do not and will not (A) conflict with or violate the certificate of formation, articles of formation, articles of incorporation, bylaws,
LLC Agreements, Partnership Agreements or similar documents of any Issuer or any agreement by and between Pledgor or any such Issuer and its respective equity owners or among any such equity owners; (B) conflict with, result in a breach of,
constitute a default of or an event of default under, or constitute any event, fact, condition or circumstance which, with notice or passage of time or both, would constitute or result in a conflict, breach, default or event of default under,
require any consent not obtained under, or result in or require the acceleration of any indebtedness pursuant to, any agreement, indenture or other instrument to which any Issuer is a party or by which any Issuer or any of its or their respective
properties or assets are bound or subject, in each case, the effect of which would reasonably be expected to have or result in a Material Adverse Effect; (C) conflict with or violate any provision of any applicable law, statute, rule,
regulation, ordinance, license or tariff or any judgment, decree or order of any court or other Governmental Authority binding on or applicable to any Issuer or any of its or their respective properties or assets or any of the Pledged Collateral,
the effect of which would reasonably be expected to have or result in a Material Adverse Effect; or (D) result in the creation or imposition of any Lien of any nature whatsoever upon any of the properties or assets of any Issuer except those
contemplated hereunder; 
 (viii) no restrictions or conditions exist with respect to the transfer, voting
or capital of any Pledged Collateral and no approval, consent or authorization of, filing, registration or qualification with, or other action by, any Issuer, any Governmental Authority or any other Person is or will be necessary to permit the valid
execution, delivery or performance of this Agreement by Pledgor or consummation of the transactions or creation or granting of the Liens and security interests contemplated hereby and all documentary stamp and other taxes and fees owing in
connection with the issuance transfer or pledge of the Pledged Collateral (or rights in respect thereof) have been paid; 

 (ix) there is no action, claim, suit, proceeding or
investigation pending or, to the knowledge of Pledgor, currently threatened against or affecting the Pledged Collateral, any Issuer, the Pledgor, or this Agreement or the transactions contemplated hereby, before or by any court, arbitrator or
Governmental Authority (A) that questions or could prevent the validity of this Agreement or the right or ability of Pledgor to enter into this Agreement or to consummate the transactions or create or grant the Liens and security interests
contemplated hereby, (B) that would reasonably be expected to have or result in, either individually or in the aggregate, any Material Adverse Effect, or (C) that would reasonably be expected to result in any change in the current equity
ownership of any Issuer, nor is Pledgor aware that there is any basis for any of the foregoing; 
 (x) no
Issuer is a party or subject to any judgment, order or decree or any agreement, document or instrument or subject to any restriction, any of which do or would adversely affect or prevent Pledgor’s ability to execute or deliver, perform under,
consummate the transactions contemplated by, or to observe the covenants and agreements contained in this Agreement; 

(xi) the obligations of Pledgor under this Agreement are not subordinated in any way to any other obligation
of Pledgor or to the rights of any other Person; and neither Pledgor nor any entity whose security constitutes part of the Pledged Collateral is a party to or has entered into any agreement, document or instrument that conflicts with this Agreement
or that otherwise relates to the Pledged Collateral which would reasonably be expected to have a Material Adverse Effect; 

(xii) the foregoing representations and warranties are made with the knowledge and intention that Secured
Party is relying and will rely thereon, and such representations and warranties shall survive the execution and delivery of this Agreement and the making of Loans and advances under the Loan Agreement; 

(xiii) Pledgor has delivered to Secured Party all certificates and instruments evidencing Pledged Collateral
and all such certificates and instruments are valid and genuine and have not been altered; 
 (xiv) no
Issuer has any outstanding stock rights, rights to subscribe, options, warrants or convertible securities outstanding or any other rights outstanding whereby any Person would be entitled to have issued to it units of ownership interest, stock or
partnership or membership interests in any Issuer; and 
 (b) Until all Obligations (other than contingent
indemnification obligations, to the extent no claim giving rise thereto has been asserted) have been satisfied in full and indefeasibly paid in full in cash and the Loan Agreement has been terminated, Pledgor hereby covenants that: 

(i) Pledgor shall: (A) at the request of Secured Party, execute, obtain, deliver, file, register and/or
record any and all financing statements, continuation statements, instruments and other documents, or cause the execution, filing, registration, recording or delivery of any and all of the foregoing, that are necessary or required under law or
otherwise reasonably requested by Secured Party to be executed, filed, registered, obtained, delivered or recorded to create, perfect, preserve, validate or otherwise protect the pledge of the Pledged Collateral to Secured Party and Secured
Party’s perfected security interest in and lien on the Pledged Collateral; (B) maintain, or cause to be maintained, at all times, the pledge of the Pledged Collateral to Secured Party and Secured Party’s perfected first priority lien
on and 

 
security interest in the Pledged Collateral; (C) use commercially reasonable efforts to defend the Pledged Collateral and Secured Party’s security interest therein and perfected first
priority lien thereon against all claims and demands (other than Permitted Liens) of all Persons at any time claiming the same or any interest therein adverse to Secured Party, and pay all reasonable costs, fees and expenses (including, without
limitation, in-house documentation and diligence fees and legal expenses and reasonable attorneys’ fees and expenses) in connection with such defense, which may at Secured Party’s discretion be charged to Pledgor’s account and added
to the Obligations, and (D) if Secured Party so demands in writing in accordance with this Agreement to the extent entitled thereto pursuant to this Agreement or otherwise at any time during the continuance of an Event of Default, deliver all
replacements, products and proceeds of, and dividends, distributions in property, returns of capital or other distributions made on or with respect to, the Pledged Collateral to Secured Party promptly upon receipt in a form and manner reasonably
satisfactory to Secured Party; 
 (ii) Pledgor shall, and shall cause each Issuer to, keep true, complete
and accurate books of record with respect to the Pledged Collateral in accordance with commercially reasonable business practices; 

(iii) Pledgor shall, and shall cause each Issuer to, take all necessary and appropriate commercially
reasonable actions to ensure that (A) this Agreement and the security interests and Liens created hereby are and remain perfected and enforceable against Pledgor in accordance with its and their terms, and (B) Pledgor complies with each of
its covenants, agreements and obligations under this Agreement; 
 (iv) Pledgor shall not take or permit to
be taken, or permit or cause any Issuer to take or permit to be taken, any action in connection with the Pledged Collateral or otherwise which would reasonably be expected to impair the value of the Pledged Collateral or any portion thereof or the
value of the interests or rights of Pledgor or Secured Party therein or with respect thereto, including, without limitation, any amendment to or modification of the certificate of formation (or similar charter documents) or bylaws or limited
liability company agreement (or similar documents) of such Person which would reasonably be expected to result in or cause any of the foregoing; 

(v) Pledgor shall not, and shall not permit any Issuer to, cause or permit to be done, or enter into or make
or become a party to any agreement (oral or written), arrangement or commitment to do or cause to be done, any of the things prohibited by this Agreement or that would breach this Agreement, any of the other Loan Documents or any other instrument,
agreement, arrangement, commitment or document to which Pledgor or any Issuer is a party or by which Pledgor or any of its properties or assets is or may be bound or subject; and 

(vi) Except for the Pledged Shares, the Pledged Collateral is not and shall not at any time be evidenced by
any certificates. The certificates evidencing the Pledged Collateral shall at all times be valid and shall not be altered. The Pledged Collateral at all times shall be duly authorized, validly issued, fully paid and (other than with respect to
partnership and limited liability company interests) non-assessable, and shall not be issued in violation of the pre-emptive rights of any Person or of any agreement by which Pledgor or any Issuer is bound and shall not be subject to any
restrictions with respect to transfer, voting or capital of such Pledged Collateral. 

	6.	 RIGHTS OF SECURED PARTY UPON OCCURRENCE AND CONTINUATION OF EVENT OF DEFAULT 

In addition to the provisions set forth in this Agreement, the Loan Agreement and in the other Loan Documents, upon the
occurrence and continuation of an Event of Default, Secured Party shall have the right to exercise any and all other rights, options and remedies provided for herein, in the Loan Agreement or any other Loan Document, under the PPSA or STA, or at law
or in equity generally or otherwise, including, without limitation, the right (i) to foreclose the security interests and Liens created hereunder, (ii) to realize upon or to take possession of or sell any of the Pledged Collateral with or
without judicial process, and (iii) to exercise such rights and powers with respect to the Pledged Collateral as Pledgor might exercise. 
  

	7.	 MISCELLANEOUS PROVISIONS 

  

	 	7.1.	 Additional Actions and Documents 

Pledgor hereby agrees to take or cause to be taken such further commercially reasonable actions (including, without
limitation, the delivery to Secured Party of certificates representing the Pledged Collateral now or hereafter acquired or owned by Pledgor), to obtain such consents and approvals and to duly execute, deliver and file or cause to be executed,
delivered and filed such further agreements, assignments, instructions, documents and instruments as may be necessary or as may be reasonably requested by Secured Party in order to fully effectuate the purposes, terms and conditions of this
Agreement and the consummation of the transactions contemplated hereby, whether before, at or after the performance and/or consummation of the transactions contemplated hereby or the occurrence of a Default or Event of Default hereunder. 

 

	 	7.2.	 Expenses 

Notwithstanding and without limiting or being limited by any other provision of this Agreement or the Loan Documents, Pledgor
shall pay all reasonable costs, fees and expenses incurred by Secured Party or any of its Affiliates, including, without limitation, documentation and diligence fees and expenses, all search, audit, appraisal, recording, professional and filing fees
and expenses and all other out-of-pocket charges and expenses (including, without limitation, PPSA and judgment and tax lien searches and PPSA filings and fees for post-closing PPSA and judgment and tax lien searches) and, reasonable attorneys’
fees and expenses, (a) in any effort to enforce this Agreement, the Loan Agreement, any other Loan Document and/or any related agreement, document or instrument, or to effect collection hereunder or thereunder, (b) in connection with
entering into, negotiating, preparing, reviewing and executing this Agreement, the Loan Agreement and the other Loan Documents and all related agreements, documents and instruments, (c) arising in any way out of administration of the
Obligations or the security interests or liens created hereunder, including without limitation, any wire transfer fees or audit expenses or filing or recordation fees, (d) in connection with instituting, maintaining, preserving, perfecting and
enforcing Secured Party’s rights hereunder and enforcing and/or foreclosing on the security interests and/or Liens in any of the Pledged Collateral, through judicial process or otherwise, (e) in defending or prosecuting any actions, claims
or proceedings arising out of or relating to this Agreement and/or any related agreement, document or instrument, (f) in seeking or receiving any advice with respect to its rights and obligations under this Agreement, the Loan Agreement, any
other Loan Documents and/or all related agreements, documents and instruments, and/or (g) in connection with any modification, supplement, amendment, waiver or extension of this Agreement, the Loan Agreement, any other Loan Document or any
related agreement, document or instrument, and all of the same may be charged to Pledgor’s account and shall be part of the Obligations. If Secured Party or any of its Affiliates uses in-house counsel for any of the purposes set forth above or
any other purposes under this Agreement for which Pledgor is 

 
responsible to pay or indemnify, Pledgor expressly agrees that the Obligations include reasonable charges for such work commensurate with the fees that would otherwise be charged by outside legal
counsel selected by Secured Party or such Affiliate in its sole discretion for the work performed. In addition and without limiting the foregoing, Pledgor shall pay all taxes (other than taxes based upon or measured by Secured Party’s income or
revenues or any personal property tax), if any, in connection with the making of the Loans and the recording of the security documents and financing statements therefor and pursuant to the Loan Documents. 

 

	 	7.3.	 Notices 

Any notice or request hereunder shall be given to Pledgor or to Secured Party in accordance with the provisions as set forth
in the Loan Agreement. 
  

	 	7.4.	 Delay 

No course of action or dealing, renewal or extension of this Agreement, any security interests or liens created hereunder or
rights or obligations hereunder, release of Pledgor or any of the foregoing or delay, failure or omission on Secured Party’s part in enforcing this Agreement, the Loan Agreement or any other Loan Document or in exercising any right, remedy,
option or power hereunder or thereunder shall affect the liability of Pledgor or operate as a waiver of such or of any other right, remedy, power or option or of any default, nor shall any single or partial exercise of any right, remedy, option or
power hereunder or under any other Loan Document affect the liability of Pledgor or preclude any other or further exercise of such or any other right, remedy, power or option. No waiver by any party to this Agreement of any one or more defaults by
the other party in the performance of any of the provisions of this Agreement shall operate or be construed as a waiver of any future default or defaults, whether of a like or different nature. Notwithstanding any other provision of this Agreement,
the Loan Agreement or any other Loan Document, by completing the closing or by making Loans or advances, Secured Party does not waive a breach of any representation or warranty of Pledgor under this Agreement, the Loan Agreement or any other Loan
Document, and all of Secured Party’s claims and rights resulting from any breach or misrepresentation by Pledgor are specifically reserved by Secured Party. 
  

	 	7.5.	 Governmental Approvals 

Upon the exercise by Secured Party or any of its Affiliates of any right or remedy under this Agreement, the Loan Agreement
or any other Loan Document that requires any consent, approval or registration with, or consent, qualification or authorization by, any Governmental Authority, Pledgor will execute and deliver, or will cause the execution and delivery of, all
applications, certificates, instruments and other documents that Secured Party may be required to obtain for such governmental consent, approval, registration, qualification or authorization. 

 

	 	7.6.	 Release of Pledged Collateral 

Promptly following full performance and satisfaction and indefeasible payment in full in cash of the Secured Obligations
(other than contingent indemnification obligations, to the extent no claim giving rise thereto has been asserted) and the termination of the Loan Agreement, the security interests and Liens created hereby shall terminate and Secured Party shall
promptly execute and deliver such documents, at Pledgor’s expense, as are necessary to release Secured Party’s security interests and Liens in the Pledged Collateral and shall promptly return the Pledged Collateral to Pledgor at the
address of Pledgor set forth herein or at such other address as Pledgor may direct in writing. Secured Party shall not be deemed to have made any representation or warranty with respect to any Pledged Collateral so

 
delivered, except that such Pledged Collateral is free and clear, on the date of such delivery, of any and all Liens, charges and encumbrances arising from Secured Party’s own acts. 

 

	 	7.7.	 Successors and Assigns; Participations; New Secured Parties 

(a) This Agreement shall inure to the benefit of Secured Party, all future holders of the Loans and the
Obligations, or any of the Secured Obligations or any of the Pledged Collateral and all Transferees (as defined below), and each of their respective successors and permitted assigns. Pledgor may not assign, delegate or transfer this Agreement or any
of its rights or obligations under this Agreement, the Loan Agreement or any other Loan Document without the prior written consent of Secured Party and Required Lenders. No rights are intended to be created under this Agreement or under any other
Loan Document for the benefit of any third party donee, creditor or incidental beneficiary of Pledgor. Nothing contained in this Agreement or any other Loan Document shall be construed as a delegation to Secured Party of Pledgor’s duty of
performance, including, without limitation, any duties under any account or contract in which Secured Party has a security interest or Lien. This Agreement shall be binding upon Pledgor and its respective heirs and assigns. 

(b) PLEDGOR ACKNOWLEDGES THAT SECURED PARTY AND THE OTHER LENDER PARTIES AT ANY TIME AND FROM TIME TO TIME
MAY SELL, ASSIGN OR GRANT PARTICIPATING INTERESTS IN OR TRANSFER ALL OR ANY PART OF ITS RIGHTS OR OBLIGATIONS UNDER, THIS AGREEMENT TO ONE OR MORE OTHER PERSONS, AS SET FORTH IN THE LOAN AGREEMENT (EACH SUCH TRANSFEREE, ASSIGNEE OR PURCHASER, A
“TRANSFEREE”). In such case, the Transferee shall have all of the rights and benefits with respect to the portion of such Obligations, the Pledged Collateral, this Agreement, the Loan Agreement and the other Loan Documents held by
it as fully as if such Transferee were the original holder thereof (including without limitation rights of set-off and recoupment), and shall become vested with all of the powers and rights given to Secured Party and/or any other Lender Party, as
applicable, hereunder with respect thereto, and shall be deemed to be a “Secured Party” for all purposes hereunder, the predecessor Secured Party or other Lender Party shall thereafter be forever released and fully discharged from any
liability or responsibility hereunder with respect to the rights and interests so assigned. Pledgor hereby grants to any Transferee or any assignee or other transferee of Secured Party a continuing security interest and Lien in the Pledged
Collateral and any deposits, accounts, instruments, moneys or other property actually or constructively held by such Transferee, assignee or transferee as security for such Person’s interest in the Obligations, the Pledged Collateral, the Loan
Agreement and/or this Agreement and/or the other Loan Documents. 
 (c) Notwithstanding any other provision
of this Agreement, the Loan Agreement or any other Loan Document, Secured Party may disclose to any Transferee, all information, and may furnish to such Transferee copies of reports, financial statements, certificates, and documents obtained under
any provision of this Agreement or any Loan Document. 
  

	 	7.8.	 Severability 

If any term or provision of this Agreement is adjudicated to be invalid under applicable laws or regulations, such provision
shall be inapplicable to the extent of such invalidity or unenforceability without affecting the validity or enforceability of, the remainder of this Agreement which shall be given effect so far as possible. 

	 	7.9.	 Survival 

It is the express intention and agreement of the parties hereto that all obligations, covenants, agreements, representations,
warranties, waivers and indemnities made by Pledgor herein shall survive the execution, delivery and termination of this Agreement and the making of Loans and advances and the termination of this Agreement until all Obligations (other than
contingent indemnification obligations, to the extent no claim giving rise thereto has been asserted) are performed in full and indefeasibly paid in full in cash and the Loan Agreement is terminated. 

 

	 	7.10.	 Rights and Remedies not Exclusive 

(a) Secured Party shall have the right in its sole discretion to determine which rights, powers, Liens,
security interests or remedies Secured Party may at any time pursue, relinquish, subordinate or modify or to take any other action with respect thereto and such determination will not in any way modify or affect any of Secured Party’s rights,
powers, Liens, security interests or remedies hereunder, under the Loan Agreement or any of the Loan Documents, or under applicable law or at equity. 

(b) The enumeration of the rights and remedies herein is not intended to be exhaustive. The rights and
remedies of Secured Party described herein are cumulative and are not alternative to or exclusive of any other rights or remedies which Secured Party otherwise may have by contract or at law or in equity, and the partial or complete exercise of any
right or remedy shall not preclude any other further exercise of such or any other right or remedy. 
  

	 	7.11.	 Effectiveness and Termination 

This Agreement shall be effective on the date hereof and shall continue in full force and effect until full performance and
satisfaction and indefeasible payment in full in cash of all Obligations (other than contingent indemnification obligations, to the extent no claim giving rise thereto has been asserted) and termination of the Loan Agreement, all in accordance with
the Loan Agreement, and the rights and powers and security interests and Liens granted to Secured Party hereunder and the financing statements filed pursuant hereto shall continue in full force and effect notwithstanding the termination of this
Agreement or the fact that Borrower’s borrowings under the Loan Agreement may from time to time be temporarily in a zero or credit position, until all of the Obligations (other than contingent indemnification obligations, to the extent no claim
giving rise thereto has been asserted) have been indefeasibly paid in full in cash and performed and satisfied in full. Unless and until this Agreement shall have been terminated in accordance with its terms and all Secured Obligations (other than
contingent indemnification obligations, to the extent no claim giving rise thereto has been asserted) shall have been paid in full in cash and performed and satisfied in full, Pledgor waives any rights which it may have under the PPSA or STA or
otherwise to demand the filing of termination statements with respect to the Pledged Collateral, and Secured Party shall not be required to send such termination statements to Pledgor, or to file them with any filing office except as required by
Applicable Law. 
  

	 	7.12.	 Governing Law; Venue; Construction 

(a) THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS SHALL BE GOVERNED AND CONSTRUED IN ACCORDANCE WITH THE LAW OF THE PROVINCE
OF ONTARIO AND THE FEDERAL LAWS OF CANADA APPLICABLE THEREIN WITHOUT REGARD TO ITS CONFLICTS OF LAW PRINCIPLES. 

 (b) ANY LEGAL ACTION OR PROCEEDING WITH RESPECT TO THIS AGREEMENT OR ANY
OTHER LOAN DOCUMENT MAY BE BROUGHT IN ANY ONTARIO COURTS SITTING IN TORONTO, AND BY EXECUTION AND DELIVERY OF THIS AGREEMENT, EACH OF THE PARTIES HERETO CONSENTS TO THE NON-EXCLUSIVE JURISDICTION OF THOSE COURTS. EACH OF THE PARTIES HERETO
IRREVOCABLY WAIVES ANY OBJECTION, INCLUDING ANY OBJECTION TO VENUE ON THE GROUNDS OF FORUM NON CONVENIENS, WHICH IT MAY NOW OR HEREAFTER HAVE TO THE BRINGING OF ANY SUCH ACTION OR PROCEEDING IN SUCH JURISDICTION. NOTWITHSTANDING THE FOREGOING,
SECURED PARTY SHALL HAVE THE RIGHT TO BRING ANY ACTION OR PROCEEDING AGAINST ANY CREDIT PARTY OR ITS PROPERTY IN THE COURTS OF ANY OTHER JURISDICTION AS SECURED PARTY, AS THE CASE MAY BE, DEEMS NECESSARY OR APPROPRIATE IN ORDER TO EXERCISE REMEDIES
WITH RESPECT TO THE COLLATERAL. 
 (c) EACH PARTY HERETO ACKNOWLEDGES THAT BOTH PARTIES PARTICIPATED IN THE
NEGOTIATION AND DRAFTING OF THIS AGREEMENT AND THAT, ACCORDINGLY, NEITHER PARTY SHALL MOVE OR PETITION A COURT CONSTRUING THIS AGREEMENT TO CONSTRUE IT MORE STRINGENTLY AGAINST ONE PARTY THAN AGAINST THE OTHER. 

 

	 	7.13.	 Captions 

The captions in this Agreement are intended for convenience and reference only and do not constitute and shall not be
interpreted as part of this Agreement, and shall not affect the meaning or interpretation of this Agreement. 
  

	 	7.14.	 Counterparts 

This Agreement may be executed in one or more counterparts, all of which taken together shall constitute but one and the same
instrument. This Agreement may be executed by facsimile transmission, email transmission or other electronic means, which signatures shall be considered original executed counterparts for purposes of this Section 7.14, and each party to
this Agreement agrees that it will be bound by its own facsimile signature and that it accepts the facsimile signature of each other party to this Agreement. 
  

	 	7.15.	 Indemnity 

(a) NOTWITHSTANDING AND WITHOUT LIMITING ANY OTHER PROVISION OF THIS AGREEMENT, THE LOAN AGREEMENT OR ANY
OTHER LOAN DOCUMENT, PLEDGOR SHALL INDEMNIFY SECURED PARTY, EACH LENDER PARTY AND THEIR AFFILIATES AND THEIR RESPECTIVE MANAGERS, MEMBERS, OFFICERS, EMPLOYEES, SUCCESSORS AND ASSIGNS (COLLECTIVELY, THE “INDEMNIFIED PERSONS”) FROM
AND AGAINST ANY AND ALL LIABILITIES, OBLIGATIONS, LOSSES, DAMAGES, PENALTIES, ACTIONS, JUDGMENTS, SUITS, COSTS, EXPENSES AND DISBURSEMENTS OF ANY KIND OR NATURE WHATSOEVER (INCLUDING, WITHOUT LIMITATION, SECURED PARTY’S REASONABLE IN-HOUSE
DOCUMENTATION AND DILIGENCE FEES AND REASONABLE LEGAL EXPENSES AND REASONABLE FEES AND DISBURSEMENTS OF COUNSEL) WHICH MAY BE IMPOSED 

 
ON, INCURRED BY OR ASSERTED AGAINST ANY INDEMNIFIED PERSON WITH RESPECT TO OR ARISING OUT OF, OR IN ANY LITIGATION, PROCEEDING OR INVESTIGATION INSTITUTED OR CONDUCTED BY ANY GOVERNMENTAL
AUTHORITY OR ANY OTHER PERSON WITH RESPECT TO ANY ASPECT OF, OR ANY TRANSACTION CONTEMPLATED BY OR REFERRED TO IN, OR ANY MATTER RELATED TO OR ANY ASPECT OF, THIS AGREEMENT, THE OBLIGATIONS, THE PLEDGED COLLATERAL OR ANY OF THE LOAN DOCUMENTS OR ANY
AGREEMENT OR DOCUMENT CONTEMPLATED HEREBY OR THEREBY (INCLUDING, WITHOUT LIMITATION, RELATING TO OR ARISING OUT OF ANY OF THE OBLIGATIONS AND/OR TRANSACTIONS CONTEMPLATED UNDER SECTION 7.15(B) OF THIS AGREEMENT), WHETHER OR NOT SUCH
INDEMNIFIED PERSON IS A PARTY THERETO, EXCEPT TO THE EXTENT THAT ANY OF THE FOREGOING ARISES SOLELY AND DIRECTLY OUT OF THE GROSS NEGLIGENCE, BAD FAITH OR WILLFUL MISCONDUCT OF SUCH INDEMNIFIED PERSON. Secured Party agrees to give Pledgor
reasonable notice of any event of which Secured Party becomes aware for which indemnification may be required under this Section 7.15, and Secured Party may elect (but is not obligated) to direct the defense thereof, provided that the
selection of counsel shall be subject to Pledgor’s consent, which consent shall not be unreasonably withheld or delayed. Secured Party and any other Indemnified Person may, in its reasonable discretion, take such actions as it deems necessary
and appropriate to investigate, defend or settle any event or take other remedial or corrective actions with respect thereto as may be necessary for the protection of Secured Party or any of the other Indemnified Persons, its or their interest or
the Pledged Collateral generally. If any Indemnified Person uses in-house counsel for any of the purposes set forth above or any other purposes under this Agreement for which Pledgor is responsible to pay or indemnify, Pledgor expressly agrees that
its indemnification obligations include reasonable charges for such work commensurate with the fees that would otherwise be charged by outside legal counsel selected by such Indemnified Person in its sole discretion for the work performed. 

(b) Notwithstanding the foregoing, if any insurer agrees to undertake the defense of an event (an
“Insured Event”), Secured Party agrees not to exercise its right to select counsel to defend the event if that would cause Pledgor’s insurer to deny coverage; provided, however, that Secured Party reserves the
right to retain counsel to represent it or any of the other Indemnified Persons with respect to an Insured Event at its sole cost and expense. To the extent that Secured Party obtains recovery from a third party other than an Indemnified Person of
any of the amounts that Pledgor has paid to Secured Party pursuant to the provisions of this Section 7.15, then Secured Party shall promptly pay to Pledgor the amount of such recovery. 

 

	 	7.16.	 Setoff 

In addition to any other rights Secured Party may have hereunder, under the Loan Agreement or any of the Loan Documents, or
under applicable law or at equity, upon the occurrence and continuation of any Event of Default Secured Party shall have the right to apply any property of Pledgor held by Secured Party to reduce the Obligations. 

 

	 	7.17.	 Waiver of Notice; Waiver of Statute of Limitations 

Pledgor hereby waives demand, presentment, protest, notice of dishonor or non-payment, as well as all defenses with respect
to any and all instruments, notice of acceptance hereof, notice of Loans or advances made, credit extended, collateral received or delivered, or any other action taken by Secured Party in reliance hereon, and all other demands and notices of any
description, except such as are expressly provided for herein or in the other Loan Documents. The pleading of any statute of limitations 

 
as a defense to any demand against Pledgor hereunder and under the Loan Documents is expressly waived by Pledgor. 
  

	 	7.18.	 Waiver of Defenses 

Pledgor hereby waives any and all defenses and counterclaims it may have or could interpose in any action or procedure
brought by Secured Party to obtain an order of court recognizing the assignment of or security interests and liens of Secured Party in and to the Pledged Collateral. 
  

	 	7.19.	 Discharge of Pledgor’s Obligations 

In addition to and notwithstanding any other provision of this Agreement, the Loan Agreement or any other Loan Document,
Secured Party, in its sole discretion, shall have the right, but not the obligation, at any time that Pledgor fails to do so, without prior notice to Pledgor, to: (i) obtain insurance covering any of the Pledged Collateral as and to the extent
required under the Loan Agreement; (ii) pay for the performance of any of Pledgor’s obligations hereunder; (iii) discharge taxes, liens, security interests, or other encumbrances at any time levied or placed on any of the Pledged
Collateral in violation of this Agreement unless Pledgor is in good faith with due diligence by appropriate proceedings contesting those items; and (iv) pay for the maintenance and preservation of any of the Pledged Collateral. Such expenses
and advances shall be added to the Secured Obligations until reimbursed to Secured Party and shall be secured by the Pledged Collateral. Any such payments and advances by Secured Party shall not be construed as a waiver by Secured Party of any
Default or Event of Default or any other rights, remedies or powers of Secured Party hereunder, or under the Loan Agreement or any other Loan Document or otherwise. 
  

	 	7.20.	 Jury Waiver 

EACH OF THE PARTIES HERETO IRREVOCABLY WAIVES ITS RESPECTIVE RIGHT TO A TRIAL BY JURY OF ANY CLAIM OR CAUSE OF ACTION
BASED UPON OR ARISING OUT OF OR RELATED TO THIS AGREEMENT IN ANY ACTION, PROCEEDING OR OTHER LITIGATION OF ANY KIND BROUGHT BY EITHER AGAINST THE OTHER, WHETHER WITH RESPECT TO CONTRACT CLAIMS, TORT CLAIMS, OR OTHERWISE. EACH OF THE PARTIES HERETO
AGREES THAT ANY SUCH CLAIM OR CAUSE OF ACTION SHALL BE TRIED BY A COURT WITHOUT A JURY. WITHOUT LIMITING THE FOREGOING, THE PARTIES FURTHER AGREE THAT THEIR RESPECTIVE RIGHT TO A TRIAL BY JURY IS WAIVED BY OPERATION OF THIS SECTION AS TO ANY ACTION,
COUNTERCLAIM OR OTHER PROCEEDING WHICH SEEKS, IN WHOLE OR IN PART, TO CHALLENGE THE VALIDITY OR ENFORCEABILITY OF THIS AGREEMENT OR ANY PROVISION HEREOF. THIS WAIVER SHALL APPLY TO ANY SUBSEQUENT AMENDMENTS, RENEWALS, SUPPLEMENTS OR MODIFICATIONS TO
THIS AGREEMENT, WHETHER OR NOT SPECIFICALLY SET FORTH THEREIN. 
  

	 	7.21.	 Entire Agreement 

This Agreement, the Loan Agreement and the other Loan Documents to which Pledgor is a party constitute the entire agreement
between Pledgor and Secured Party with respect to the subject matter hereof and thereof, and supersede all prior agreements and understandings, if any, relating to the subject matter hereof or thereof, which are hereby terminated, null and void and
of no further force or effect. Any promises, representations, warranties or guarantees not herein contained and hereinafter made shall have no force and effect unless in writing, signed by Pledgor and Secured Party. Neither this Agreement nor any
portion hereof may be changed, modified, amended, restated, waived, supplemented, 

 
canceled or terminated orally or by any course of dealing or in any other manner other than by an agreement in writing signed by both Secured Party and Pledgor. Any waiver of this Agreement by
Secured Party shall be limited solely to the express terms and provisions of such waiver. Each party to this Agreement acknowledges that it has been advised by counsel in connection with the negotiation and execution of this Agreement, the Loan
Agreement and the other Loan Documents and is not relying upon oral representations or statements inconsistent with the terms and/or provisions of this Agreement. 
  

	 	7.22.	 Sole Duty of Secured Party 

Secured Party shall have no responsibility for or obligation or duty with respect to all or any part of the Pledged
Collateral or any matter or proceeding arising out of or relating thereto, including without limitation, any obligation or duty to collect any sums due in respect thereof or to protect or preserve any rights pertaining thereto. 

 

	 	7.23.	 Secured Party Approvals 

Unless expressly provided herein or in the Loan Agreement to the contrary, any approval, consent, waiver or satisfaction of
Secured Party with respect to any matter that is subject of this Agreement, the Loan Agreement or the other Loan Documents may be granted or withheld by Secured Party in its sole and absolute discretion (with any necessary consents of Lenders or
Required Lenders, as applicable, under the Loan Agreement). 
  

	 	7.24.	 No Unwritten Oral Agreements 

THIS AGREEMENT REPRESENTS THE FINAL AGREEMENT BETWEEN PLEDGOR, ADMINISTRATIVE AGENT AND LENDERS RELATING TO THE SUBJECT
MATTER HEREOF AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OF SUCH PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN PLEDGOR AND ADMINISTRATIVE AGENT. THIS AGREEMENT SUPERSEDES ALL PRIOR (IF
ANY) ORAL AGREEMENTS, ARRANGEMENTS, OR UNDERSTANDINGS RELATING TO THE SUBJECT MATTER HEREOF. 
  

	 	7.25.	 ULC Shares 

The Pledgor acknowledges that certain of the Collateral may now or in the future consist of ULC Shares, and that it is the
intention of the Secured Party and the Pledgor, notwithstanding anything in this Agreement to the contrary, that neither the Secured Party nor any of the Lenders should under any circumstances prior to realization thereon be held to be a
“member” or a “shareholder”, as applicable, of a ULC for the purposes of any ULC Laws. Therefore, notwithstanding any provisions to the contrary contained in this Agreement, the Loan Agreement or any other Loan Document, where
the Pledgor is the registered owner of ULC Shares which are Pledged Collateral, the Pledgor will remain the sole registered owner of such ULC Shares until such time as such ULC Shares are effectively transferred into the name of the Secured Party,
any Lender, or any other Person on the books and records of the applicable ULC. Accordingly, the Pledgor shall be entitled to receive and retain for its own account any dividend on or other distribution, if any, in respect of such ULC Shares (except
for any dividend or distribution comprised of Pledged Shares, which shall be delivered to the Secured Party to hold hereunder) and shall have the right to vote such ULC Shares and to control the direction, management and policies of the applicable
ULC to the same extent as the Pledgor would if such ULC Shares were not pledged to the Secured Party pursuant hereto. Nothing in this Agreement, the Loan Agreement or any other Loan Document is intended to, and nothing in this Agreement, the Loan
Agreement or any other Loan 

 
Document shall, constitute the Secured Party, any Lender, or any other Person other than the Pledgor, a member or shareholder of a ULC for the purposes of any ULC Laws (whether listed or
unlisted, registered or beneficial), until such time as notice is given to the Pledgor and further steps are taken pursuant hereto or thereto so as to register the Secured Party, any Lender, or such other Person, as specified in such notice, as the
holder of the ULC Shares. To the extent any provision hereof would have the effect of constituting the Secured Party or any Lender as a member or a shareholder, as applicable, of any ULC prior to such time, such provision shall be severed herefrom
and shall be ineffective with respect to ULC Shares which are Pledged Collateral without otherwise invalidating or rendering unenforceable this Agreement or invalidating or rendering unenforceable such provision insofar as it relates to Pledged
Collateral which is not ULC Shares. Except upon the exercise of rights of the Secured Party to sell, transfer or otherwise dispose of ULC Shares in accordance with this Agreement, no Pledgor shall cause or permit, or enable a STA Issuer with respect
to any Pledged Shares (a “Pledged Issuer”), that is a ULC, to cause or permit, the Secured Party or any Lender to: (a) be registered as a shareholder or member of such Pledged Issuer; (b) have any notation entered in their
favour in the share register of such Pledged Issuer; (c) be held out as shareholders or members of such Pledged Issuer; (d) receive, directly or indirectly, any dividends, property or other distributions from such Pledged Issuer by reason
of the Secured Party holding the security interest in the ULC Shares; or (e) act as a shareholder of such Pledged Issuer, or exercise any rights of a shareholder including the right to attend a meeting of shareholders of such Pledged Issuer or
to vote its ULC Shares. In furtherance of the foregoing, the Pledgor shall not cause or permit, or enable a Pledged Issuer to authorize by corporate resolution or consent, as applicable, the transfer(s) of any such Pledged Shares to the Secured
Party or any Lender without the Secured Party’s express request to do so. 
  

	 	7.26.	 Receiver 

Upon the occurrence of any Event of Default which is continuing, the Secured Party, for the benefit of the Lenders, at the
direction of the Required Lenders, may appoint or reappoint by instrument in writing, any Person or Persons, whether an officer or officers or an employee or employees of the Secured Party or not, to be an interim receiver, receiver, receivers,
receiver and manager, liquidator, trustee in bankruptcy or similar Person (hereinafter called a “Receiver,” which term when used herein shall include a receiver and manager) of Pledged Collateral (including any interest, income or
profits therefrom) and may remove any Receiver so appointed and appoint another in his/her/its stead. Any such Receiver shall, so far as concerns responsibility for his/her/its acts, be deemed the agent of the Pledgor and not of the Secured Party or
any Lender, and neither the Secured Party nor any other Lender shall be in any way responsible for any misconduct, negligence or non-feasance on the part of any such Receiver or his/her/its servants, agents or employees. Except as may be otherwise
directed by the Secured Party, at the direction of the Required Lenders, all money or proceeds received from time to time by such Receiver in carrying out his/her/its appointment shall be received in trust for and be paid over to the Secured Party.
Every such Receiver may be vested with all or any of the rights and powers of the Secured Party. The identity of the Receiver, its replacement and its remuneration shall be within the sole and unfettered discretion of the Required Lenders. 

[SIGNATURES APPEAR ON THE FOLLOWING PAGE] 

 IN WITNESS WHEREOF, each of the parties hereto has duly executed this Pledge
Agreement as of the date first written above. 
  

			
	 PLEDGOR:

	
	 MAD CATZ INTERACTIVE, INC.

as the Pledgor

 
			
		
	 By:
	 	  /s/ Darren
Richardson

 
			
	 Name:
	 	  Darren
Richardson

 
			
	 Title:
	 	  President & CEO

	
	 SECURED PARTY:

	
	 NEWSTAR BUSINESS CREDIT, LLC

as the Secured Party

 
			
		
	 By:
	 	  /s/ Greg
Gentry

 
			
	 Name:
	 	  Greg Gentry

			
	 Title:
	 	  SVP

 Pledge Agreement 

Schedule 1.1 

Description of Initial Pledged Shares 
  

									
	
Name of

Issuer
  
	 	
    Class or Series of    
Equity Interest

 
	 	
    Number of    
Shares

 
	 	
Certificate
    Representing    
Equity Interest

 
	 	
    Percentage of Equity    
Interest Pledged

 

	
Mad Catz, Inc.
	 	Common	 	12,502	 	12	 	100%        
	
1328158

Ontario Inc.
	 	Common	 	10,300,000	 	Un-numbered	 	100%        

 Description of Initial Partnership Rights 

 

									
	
Name of
 Issuer

 
	 	
    Class or Series of    
Equity Interest

 
	 	
    Number of    
Interests/Units

 
	 	
Certificate
    Representing    
Equity Interest

 
	 	
    Percentage of Equity    
Interest Pledged

 

	
N/A
	 	 	 	 	 	 	 	 

 Description of Initial LLC Units Pledged 

 

									
	
Name of
 Issuer

 
	 	
    Class or Series of    
Equity Interest

 
	 	
 Number of
Units/
  Membership  
Interests

 
	 	
Certificate
    Representing    
Equity Interest

 
	 	
    Percentage of Equity    
Interest Pledged

 

	
N/A
	 	 	 	 	 	 	 	 

 Description of Initial ULC Shares Pledged 

 

									
	
Name of
 Issuer

 
	 	
    Class or Series of    
Equity Interest

 
	 	
    Number of    
Shares

 
	 	
Certificate
    Representing    
Equity Interest

 
	 	
    Percentage of Equity    
Interest Pledged

 

	
N/AEX-10.10

 Exhibit 10.10 
  

 
 GUARANTY AGREEMENT 

This Guaranty Agreement (as may be amended, restated, or otherwise modified from time to time, this “Guaranty
Agreement”), is executed and delivered by the undersigned Guarantor in favor of NEWSTAR BUSINESS CREDIT, LLC, a Delaware limited liability company, in its capacity as administrative and collateral agent for the Lender Parties (in such
capacity, together with its successors and assigns, the “Administrative Agent”), effective as of June 30, 2015 as provided herein below: 

Definitions: 

The following terms shall have the following meanings where used in this Guaranty Agreement: 

“Borrower” means Mad Catz, Inc., a Delaware corporation, and its successors and assigns, including without
limitation as debtor or debtor-in-possession in any bankruptcy proceedings. 
 “Guaranteed Obligations”
means all indebtedness and obligations now or hereafter owing by Borrower to Administrative Agent and Lenders, whether or not evidenced by any note, or other instrument or document, whether arising from or in connection with a loan, extension of
credit, issuance of a letter of credit, acceptance, guaranty, indemnification, or otherwise, whether direct or indirect, absolute or contingent, due or to become due, primary or secondary, as principal or guarantor, and including all principal,
interest, charges, costs, fees, expenses, including costs, fees and expenses of attorneys employed or engaged by Administrative Agent and/or Lenders in connection with any of the foregoing, filing fees, and any other sums chargeable to Borrower
under this Guaranty Agreement or any of the other Loan Documents. Without limiting the foregoing, “Guaranteed Obligations” includes all “Obligations” as defined by the Loan and Security Agreement and also includes any of the
foregoing arising during any bankruptcy proceedings of Borrower and any interest or costs, fees expenses that, but for the existence of any such bankruptcy proceedings, would arise or accrue under the Loan Documents. 

“Guarantor” means Mad Catz Interactive, Inc. and its successors and assigns. 

“Lenders” means each Lender under and as defined in the Loan and Security Agreement, and their permitted
successors and assigns. 
 “Loan and Security Agreement” means the certain Loan and Security Agreement
dated as of June 30, 2015, among the Borrower, the Guarantor, 1328158 Ontario Inc., an Ontario corporation (“MCC”), the Lenders from time to time party thereto and Administrative Agent, as such agreement has been and hereafter
may be renewed, amended, restated, or otherwise modified from time to time. 
 Terms defined in the Loan and Security Agreement, wherever
used herein, unless otherwise defined herein, shall have the same meanings in this Guaranty Agreement as are set forth in the Loan and Security Agreement, and each of such definitions is incorporated herein by reference. Guarantor expressly
acknowledges that it has read and is familiar with all such incorporated definitions and agrees that they 

  

			
	GUARANTY AGREEMENT (PARENT) - Page 1	  	

 
shall have the same effect and enforceability in this Guaranty Agreement as though set forth herein at length. 

Recitals: 

Concurrently herewith, Borrower, Guarantor, Lenders and Administrative Agent have executed and entered into the Loan and
Security Agreement, which provides for Loans and extensions of credit by Lenders to Borrower. This Guaranty Agreement is required by the Loan and Security Agreement, and Guarantor’s execution and delivery hereof is a condition (among other
conditions) to Lenders’ obligation to make Loans and extensions of credit under the Loan and Security Agreement. Guarantor has determined that (a) it will directly and indirectly benefit from the availability of extensions of credit to
Borrower under the Loan and Security Agreement and from the other transactions evidenced by and contemplated in the Loan Documents, (b) it will benefit, directly and indirectly, from executing and delivering this Guaranty Agreement, (c) it
is in Guarantor’s best interest, and within its organizational purpose, to execute and deliver and, if called upon to do so, to perform its obligations under this Guaranty Agreement, and (d) execution and delivery of this Guaranty
Agreement and the other Loan Documents to which Guarantor is a party is necessary or convenient to the conduct, promotion, and attainment of the business of Guarantor. 

NOW, THEREFORE, for good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, Guarantor
hereby agrees as follows: 
 1. Guaranty of Guaranteed Obligations.  As an inducement to Lenders to make
the Loans or otherwise extend credit and other financial accommodations to Borrower under the Loan and Security Agreement, Guarantor, for value received, does hereby unconditionally, irrevocably, and absolutely guarantee to Administrative Agent and
the other Lender Parties the prompt and full payment and performance of the Guaranteed Obligations when due, whether at stated maturity, by acceleration or otherwise. This Guaranty Agreement is and shall be an absolute, unconditional, irrevocable,
and continuing unlimited guaranty of payment, and not solely of collection. Notwithstanding anything in this Agreement to the contrary, the amount of the Guaranteed Obligations shall be limited to a maximum aggregate amount equal to the largest
amount that would not render this Guaranty subject to avoidance as a fraudulent transfer or conveyance under any Applicable Laws, after giving effect to all other liabilities of Guarantor, contingent or otherwise, that are relevant under such laws,
and after giving effect to the value, as assets (as determined under the applicable provisions of such laws) of any rights of Guarantor to contribution, indemnity, and/or subrogation from Borrower or any other Person. For the purposes of this
Agreement, whenever interest is calculated on the basis of a period which is less than the actual number of days in a calendar year, each rate of interest determined pursuant to such calculation is, for the purposes of the Interest Act (Canada),
equivalent to such rate multiplied by the actual number of days in the calendar year in which such rate is to be ascertained and divided by the number of days used as the basis of such calculation. 

2. Representations and Warranties.  Guarantor hereby represents and warrants to Administrative Agent and
Lenders as follows: Guarantor owns, directly or indirectly, one hundred percent (100%) of the equity interests in the Borrower and MCC and has received and will receive a direct and indirect material benefit from the transactions evidenced by
and contemplated in the Loan and Security Agreement and the other Loan Documents. This Guaranty Agreement is given by Guarantor in furtherance of the direct and indirect business interests, and is necessary to the conduct, promotion, and attainment
of the businesses of Borrower. The value of the consideration received and to be received by Guarantor is reasonably worth at least as much as the liability and obligation of Guarantor hereunder. Guarantor is currently informed of the financial
condition of Borrower and of all other circumstances 

  

			
	GUARANTY AGREEMENT (PARENT) - Page 2	  	

 
which a diligent inquiry would reveal and which bear upon the risk of nonpayment of the Guaranteed Obligations. Guarantor has read and understands the terms and conditions of the Loan Documents.
Guarantor is familiar with, and has had an opportunity to review the books and records regarding, the financial condition of Borrower and is familiar with the value of any and all property intended to be security for the payment of all or any part
of the Guaranteed Obligations; provided, that Guarantor is not relying on such financial condition or the existence or value of any such security as an inducement to enter into this Guaranty Agreement. Guarantor has adequate means to obtain,
on a continuing basis, information concerning the financial condition of Borrower. Guarantor has not been induced to enter into this Guaranty Agreement on the basis of a contemplation, belief, understanding, or agreement that any Person other than
Borrower or Guarantor will be liable to pay the Guaranteed Obligations. Administrative Agent and Lenders have not made any representation, warranty, or statement to Guarantor in order to induce Guarantor to execute this Guaranty Agreement. 

3. Covenants.  [Reserved] 

4. Obligations Not Impaired.  Guarantor agrees that its obligations under this Guaranty Agreement shall not
be released, diminished, impaired, reduced, or affected by the occurrence of any one or more of the following events: (a) lack of organizational authority of Borrower; (b) any receivership, insolvency, bankruptcy, or other proceedings
affecting Borrower or their property; (c) partial or total release or discharge of Borrower or any other Person from the performance of any obligation contained in any instrument or agreement evidencing, governing, or securing all or any part
of the Guaranteed Obligations, whether occurring pursuant to any Applicable Law or otherwise; (d) any change in the time, manner, or place of payment of, or in any other term of, or any increase or decrease in the amount of, all the Guaranteed
Obligations, or any portion thereof, or any other amendment or waiver of any term of, or any consent to departure from any requirement of, any of the Loan Documents; (e) the taking or accepting of any collateral security for all or any part of
the Guaranteed Obligations, this Guaranty Agreement, or any other guaranty; (f) the taking or accepting of any other guaranty for all or any part of the Guaranteed Obligations; (g) any failure to acquire, perfect, or continue any security
interest or lien on Collateral securing all or any part of the Guaranteed Obligations or on any property securing this Guaranty Agreement; (h) any exchange, release, or subordination of any security interest or lien on any Collateral, or any
release, amendment, waiver, or subordination of any term of any guaranty of the Guaranteed Obligations or any other impairment of any collateral security or guaranty now or hereafter securing all or any part of the Guaranteed Obligations;
(i) any failure to dispose of any collateral security at any time securing all or any part of the Guaranteed Obligations or this Guaranty Agreement in a commercially reasonable manner or as otherwise may be required by any Applicable Law;
(j) any merger, reorganization, consolidation, or dissolution of Borrower or any other Person at any time liable for any of the Obligations, any sale, lease, or transfer of any or all of the assets of Borrower or any other Person at any time
liable for any of the Obligations, or any change in name, business, organization, location, composition, structure, or organization of Borrower or any other Person at any time liable for any of the Obligations; (k) any change of control or any
other change in the capitalization or Equity Interest ownership of Borrower or any other Person at any time liable for any of the Obligations; (l) any invalidity or unenforceability of or defect or deficiency in any of the Loan Documents;
(m) avoidance or subordination of the Guaranteed Obligations, or any portion thereof, (n) the unenforceability of all or any part of the Guaranteed Obligations against Borrower because any interest contracted for, charged, or received in
respect of the Guaranteed Obligations exceeds the amount permitted by any Applicable Law; (o) any waiver, consent, extension, forbearance, or granting of any indulgence by Administrative Agent or any other Lender Party with respect to the
Guaranteed Obligations or any provision of any of the Loan Documents; (p) any delay in or lack of enforcement of any remedies under the Loan Documents; (q) the act of creating all or any part of the Guaranteed Obligations is ultra vires,
or the officers or other representatives creating all or any part of the Guaranteed Obligations acted in excess of their authority; (r) any election of remedies by Administrative Agent or any other Lender Party; (s) any of the Loan

  

			
	GUARANTY AGREEMENT (PARENT) - Page 3	  	

 
Documents were forged; (t) the election by Administrative Agent or any other Lender Party in any proceeding under the Bankruptcy Code of the application of Section 1111(b)(2) thereof;
(u) any borrowing or grant of a security interest by Borrower as debtor-in-possession, under Section 364 of the Bankruptcy Code; (v) any use by Borrower (whether with the consent of Administrative Agent or any Lender or otherwise) of
cash collateral during the pendency of any bankruptcy proceeding; (w) the making of post-petition loans or any other provision for the extension of post-petition credit to Borrower as debtor-in-possession in any bankruptcy proceedings;
(x) the disallowance in bankruptcy of all or any portion of the claims of Administrative Agent or any Lender for payment of any of the Guaranteed Obligations; or (y) any other circumstance which might otherwise constitute a legal or
equitable discharge or defense available to Borrower or Guarantor (other than that the Guaranteed Obligations shall have been indefeasibly paid and performed in full). 

5. Consent and Waiver. 

(a) Guarantor hereby waives: (i) notice of acceptance of this Guaranty Agreement; (ii) notice of
any Loans or other financial accommodations or the creation or existence of any Guaranteed Obligations; (iii) notice of the amount of the Guaranteed Obligations; (iv) notice of any adverse change in the financial condition of Borrower or
any other Person or of any other fact that might increase or otherwise change Guarantor’s risk with respect to the Guaranteed Obligations, Borrower or any other Person under or in connection with this Guaranty Agreement; (v) notice of
presentment for payment, demand, protest and notice thereof, notice of intent to accelerate, notice of acceleration, notice of dishonor, diligence or promptness in enforcement, and indulgences of every kind as to any promissory notes or other
instruments; (vi) notice of any of the events or circumstances enumerated in Section 4, and all other notices and demands to which Guarantor might otherwise be entitled (except if such notice is specifically required to be given to
Guarantor hereunder or under any other Loan Documents); (vii) any requirement that Administrative Agent protect, secure, perfect, or insure its security interest and liens on any Collateral or other property as security for the Guaranteed
Obligations or exhaust any right or take any action against Administrative Agent or any other Lender Party or any other Person or any Collateral or any other property subject to a security interest or lien; (viii) the benefit of any statute of
limitation applicable to enforcement of the Guaranteed Obligations, or any portion thereof, or any security interests or liens in the Collateral or other property as security for the Guaranteed Obligations or this Guaranty Agreement; (ix) all
rights by which Guarantor might be entitled to require suit on an accrued right of action in respect of any of the Guaranteed Obligations or require suit against Borrower or any other Person, whether arising pursuant to Section 17.001 or
Section 43.002 of the Texas Civil Practice and Remedies Code, as amended,, or Rule 31 of the Texas Rules of Civil Procedure, as amended, or otherwise; or (x) any other defense of Borrower or any other Person (other than that the Guaranteed
Obligations shall have been indefeasibly paid and performed in full, or in part, to the extent of any such partial payment or performance). 

(b) Guarantor hereby waives and agrees not to assert against Administrative Agent or any Lender, to the extent
allowed by any Applicable Law: (i) any defense, setoff, counterclaim, or claim of any kind or nature available to Borrower or any other Person against Administrative Agent or any other Lender Party arising directly or indirectly from the
present or future lack of perfection, sufficiency, validity, or enforceability of the Guaranteed Obligations or any security interest or lien in the Collateral or any other property as security for the Guaranteed Obligations; or (ii) any right
or defense arising by reason of any claim or defense based upon an election of remedies by Administrative Agent or any other Lender Party under any Applicable Law. 

  

			
	GUARANTY AGREEMENT (PARENT) - Page 4	  	

 (c) Administrative Agent and any other Lender Party shall have
the right to seek recourse against Guarantor to the fullest extent provided for herein, and no election by Administrative Agent or any other Lender Party to proceed in one form of action or proceeding, or against any party, or on any obligation,
shall constitute a waiver of Administrative Agent’s or such other Lender Party’s right to proceed in any other form of action or proceeding or against other parties unless Administrative Agent has expressly waived such right in writing.
Without limiting the foregoing, no action or proceeding by Administrative Agent or any other Lender Party under any document or instrument evidencing the Guaranteed Obligations shall serve to diminish the liability of Guarantor under this Guaranty
Agreement except to the extent that Administrative Agent or such other Lender Party finally and unconditionally shall have realized indefeasible payment in full of the Guaranteed Obligations. 

(d) Guarantor waives, and agrees that its liability hereunder shall not be affected by, any neglect, delay,
omission, failure, or refusal of Administrative Agent or any other Lender Party to (i) exercise or properly or diligently exercise any right or remedy with respect to any or all of the Guaranteed Obligations or the collection thereof or any
security interests or liens or other security for or Guaranty of the Guaranteed Obligations, or any portion thereof, (ii) take or prosecute, or properly or diligently take or prosecute, any action for the collection of any or all of the
Guaranteed Obligations against Borrower, Guarantor or any other Person in respect of any or all of the Guaranteed Obligations, (iii) foreclose or prosecute, or properly or diligently foreclose or prosecute, any action in connection with any
agreement, document or instrument or arrangement evidencing, securing, or otherwise affecting all or any part of the Guaranteed Obligations, or (iv) mitigate damages or take any other action to reduce, collect, or enforce the Guaranteed
Obligations; 
 (e) Administrative Agent, on behalf of Lender Parties, may at any time, without the consent
of or notice to Guarantor, without incurring responsibility to Guarantor and without impairing, releasing, reducing, or affecting the obligations of Guarantor hereunder: (i) change the manner, place, or terms of payment of all or any part of
the Guaranteed Obligations, or renew, extend, modify, rearrange, refinance, refund, increase or alter all or any part of the Guaranteed Obligations; (ii) sell, exchange, release, surrender, subordinate, realize upon, or otherwise deal with in
any manner and in any order any Collateral and any security interest or lien securing all or any part of the Guaranteed Obligations or this Guaranty Agreement or setoff against all or any part of the Guaranteed Obligations; (iii) neglect,
delay, omit, fail, or refuse to take or prosecute any action for the collection of all or any part of the Guaranteed Obligations or this Guaranty Agreement or to take or prosecute any action in connection with any of the Loan Documents;
(iv) exercise or refrain from exercising any rights against Borrower or other Person, or otherwise act or refrain from acting; (v) settle or compromise all or any part of the Guaranteed Obligations and subordinate the payment of all or any
part of the Guaranteed Obligations to the payment of any indebtedness, liabilities, or obligations which may be due or become due to Lender Parties; (vi) release all or any one or more parties to any one or more of the Loan Documents or grant
forbearance or other indulgences to Borrower or any other Person in respect thereof; (vii) amend or modify in any manner and at any time (or from time to time) any of the Loan Documents; or (viii) partially or fully release or substitute
Guarantor, or enforce, exchange, release, or waive any security for the Guaranteed Obligations, or any portion thereof; (ix) bring suit against any and all Persons liable or obligated in respect of the Guaranteed Obligations, collectively
together, jointly and severally or separately, and apply any amounts obtained by Administrative Agent in such manner as Administrative Agent may elect, subject to the Loan Documents; and (x) apply to the Guaranteed Obligations any sums paid to
Administrative Agent or any other Lender Party by Borrower, Guarantor or any other Person as provided by the Loan Documents. 

  

			
	GUARANTY AGREEMENT (PARENT) - Page 5	  	

 (f) Should Administrative Agent, on behalf of Lender Parties,
seek to enforce this Guaranty Agreement by action in any court or otherwise, Guarantor waives any requirement, substantive or procedural, that (i) rights or remedies be enforced first against Borrower or any other Person liable for all or any
part of the Guaranteed Obligations, including, without limitation, that a judgment first be rendered against Borrower or any such Person, or that Borrower or any such Person should be joined in such cause or (ii) enforcement shall first be made
against any Collateral or other property which shall ever have been given to secure all or any part of the Guaranteed Obligations or this Guaranty Agreement. 

(g) Guarantor’s obligations under this Guaranty Agreement shall not be impaired by any action, if any,
which results in the denial or impairment of any right to seek a deficiency against Borrower. 
 (h)
Guarantor agrees that it has the sole responsibility for keeping itself informed of the financial condition of Borrower and of all other circumstances bearing upon the risk of nonpayment of the Guaranteed Obligations or any part thereof, and that
Administrative Agent and Lenders shall not have any obligation or duty to advise Guarantor of information known to it regarding such condition or any such circumstance. 

(i) Guarantor consents and agrees that neither Administrative Agent nor any other Lender Party shall have any
obligation to marshal assets securing the Guaranteed Obligations in favor of Guarantor. 
 (j)
Administrative Agent may, at any time and from time to time in its discretion (subject to the Loan and Security Agreement) and with or without valuable consideration, allow substitution or withdrawal of Collateral or other security and release
Collateral or other security without impairing or diminishing the indebtedness, liabilities, or obligations of Guarantor under this Guaranty Agreement. 

(k) Any determination by a court of competent jurisdiction of the amount of any principal and/or interest or
other amount constituting any of the Guaranteed Obligations shall be conclusive and binding on Guarantor irrespective of whether Guarantor was a party to the suit or action in which such determination was made. 

6. Default.  Upon the occurrence and during the continuation of an Event of Default, Guarantor agrees to pay
to Administrative Agent, on behalf of Lender Parties, at its office located in Dallas County, Texas, or at such other place as Administrative Agent may specify to Guarantor in writing, on demand by Administrative Agent and without further notice of
dishonor and without notice of any kind to Borrower, Guarantor, or any other Person, the full unpaid amount of the Guaranteed Obligations, in immediately available funds, or such lesser amount, if any, as may then be due and payable and demanded by
Administrative Agent, on behalf of Lender Parties, from time to time. If acceleration of the time for payment of any amount payable by Borrower under or with respect to any of the Guaranteed Obligations is stayed or otherwise delayed upon the
insolvency, bankruptcy, or reorganization of Borrower, all such amounts otherwise subject to acceleration under the terms of the Guaranteed Obligations shall nonetheless be payable by Guarantor hereunder promptly on demand by Administrative Agent,
and Guarantor, expressly and unconditionally agrees to make such payment to Administrative Agent, on behalf of Lenders, in full. 

7. No Waiver.  No failure on the part of either Administrative Agent or any other Lender Party to exercise,
and no forbearance, delay or omission by either Administrative Agent or any other Lender Party in exercising, any right or remedy hereunder shall impair such right or remedy or operate or 

  

			
	GUARANTY AGREEMENT (PARENT) - Page 6	  	

 
be construed as a waiver thereof or any acquiescence therein, nor shall any single or partial exercise of any right or remedy hereunder preclude any other or further exercise thereof or the
exercise of any other right or remedy hereunder. 
 8. Notice of Sale.  In the event that Guarantor is
entitled to receive any notice under the UCC, as it exists in the state governing any such notice, of the sale or other disposition of any Collateral or other property securing all or any part of the Guaranteed Obligations or this Guaranty
Agreement, it is agreed that at least ten (10) days notice to Guarantor of the time and place of any public sale, or the time after which any private sale or other disposition may be made of any such Collateral or other property, shall be
deemed to be reasonable notice in conformity with such requirements. 
 9. Payment by Guarantor.  Whenever
Guarantor pays any sum which is or may become due under this Guaranty Agreement, written notice must be delivered to Administrative Agent contemporaneously with such payment. 

10. Binding Effect.  This Guaranty Agreement is for the benefit of Administrative Agent, each other Lender
Party and their successors and assigns, and in the event of an assignment by any Lender Party, or such Lender Party’s successors or assigns, of the Guaranteed Obligations, or any part thereof, the rights and benefits hereunder, to the extent
applicable to the indebtedness, liabilities, and obligations so assigned, shall be deemed transferred with such indebtedness, liabilities, and obligations without necessity of further express action. This Guaranty Agreement is binding upon Guarantor
and its successors and assigns. 
 11. Subordination of Indebtedness and Liens.  The payment of any and all
principal of and interest on all indebtedness of Borrower to the Guarantor, whether direct, indirect, fixed, contingent, liquidated, unliquidated, joint, several, or joint and several, now or hereafter existing, due or to become due to Guarantor
under any and all circumstances, including, without limitation, any rights of subrogation of Guarantor in respect of any payment by Guarantor under this Guaranty Agreement (herein called the “Subordinated Debt”), shall in all
respects be subordinate and junior in right of payment and enforcement to the prior payment and enforcement in full of the Guaranteed Obligations as provided in this Section. Except to the extent, if any, as may be expressly permitted by the Loan
and Security Agreement, no payment shall be made on or with respect to the Subordinated Debt unless and until the Guaranteed Obligations shall have been paid and performed in full. In the event that Guarantor shall receive any payment on account of
the Subordinated Debt in violation of this Section, Guarantor will hold, or cause to be held (as the case may be), any amount so received in trust for the benefit of Administrative Agent and the other Lender Parties and will forthwith deliver, or
cause to be delivered (as the case may be), such payment to Administrative Agent, in the form received, to be applied to the Guaranteed Obligations. All security interests and liens, if any, at any time securing payment of all or any part of the
Subordinated Debt (herein called the “Subordinated Liens”) shall be and remain inferior and subordinate to the security interests and liens securing payment of all or any part of the Guaranteed Obligations, regardless of whether
such Subordinated Liens presently exist or are hereafter created or when such Subordinated Liens were created, perfected, filed, or recorded (provided that the foregoing shall not be interpreted or deemed to allow the existence of any
security interests or liens that are prohibited by the Loan Documents). Guarantor shall not exercise or enforce any creditors’ rights or remedies that it may have against Borrower, or foreclose, repossess, sequester, or otherwise institute any
action or proceeding (whether judicial or otherwise, including, without limitation, the commencement of, or joinder in, any bankruptcy, insolvency, reorganization, liquidation, receivership, or other debtor relief law) to enforce the Subordinated
Debt or any Subordinated Lien on any assets of Borrower unless and until the Guaranteed Obligations shall have been paid and performed in full. The terms and provisions of this Section are given by Guarantor as additional rights and benefits to any
and all other subordination agreements heretofore, concurrently herewith, or hereafter executed by Guarantor to or in favor of Administrative 

  

			
	GUARANTY AGREEMENT (PARENT) - Page 7	  	

 
Agent and the Lenders, and nothing in this Guaranty Agreement shall be deemed to in any way negate or replace any other such previous, concurrent, or subsequent subordination agreements. 

12. Right of Setoff.  Guarantor hereby grants to Administrative Agent, for the benefit of Lender Parties, a
right of setoff against any Guaranteed Obligations then due and payable upon any and all monies, securities, or other property of Guarantor, and the proceeds therefrom, now or hereafter held or received by or in transit to Administrative Agent or
such other Lender Party from or for the account of Guarantor, whether for safekeeping, custody, pledge, transmission, collection, or otherwise, and also upon any and all general or special deposits (to the extent not prohibited by any Applicable
Law) and credits of Guarantor, and any and all claims of Guarantor against Administrative Agent and such other Lender Party at any time existing. 

13. Invalid Provisions.  If any provision of this Guaranty Agreement is held to be illegal, invalid, or
unenforceable under present or future laws effective during the term hereof, such provision shall be fully severable, this Guaranty Agreement shall be construed and enforced as if such illegal, invalid, or unenforceable provision was not a part
hereof, and the remaining provisions hereof shall remain in full force and effect and shall not be affected by the illegal, invalid, or unenforceable provision or by its severance herefrom. Notwithstanding any language to the contrary contained
herein, no provision herein or in any other Loan Document evidencing the Guaranteed Obligations shall require the payment or permit the collection of interest in excess of the maximum permitted by any Applicable Law. 

14. Modification in Writing.  No modification, consent, amendment, or waiver of any provision of this
Guaranty Agreement, and no consent to any departure by Guarantor herefrom, shall be effective unless the same shall be in writing and signed by a duly authorized officer of Administrative Agent and, as to any modification or amendment, Guarantor,
and then shall be effective only in the specific instance and for the specific purpose for which given. 
 15. Limited
Effect of Notices; Consents.  No notice to or demand on, or consent by, Guarantor in any case shall, of itself, entitle Guarantor to any other or further notice or demand, or right to grant or refuse consent, in similar or other
circumstances. 
 16. Cumulative Rights. All rights and remedies of Administrative Agent and Lenders under this
Guaranty Agreement are cumulative of each other and of every other right or remedy which Administrative Agent and Lenders may otherwise have under any applicable law or under any other agreement. 

17. Expenses.  Guarantor agrees to pay, without duplication of any amounts paid under Section 14.5 of
the Loan and Security Agreement, on demand all reasonable costs and expenses incurred by Administrative Agent or any Lender in connection with the negotiation, preparation, execution, and performance of this Guaranty Agreement and any and all
amendments, modifications, renewals, restatements, and/or supplements hereto from time to time, including, without limitation, reasonable attorneys fees. If Guarantor should breach or fail to perform any provision of this Guaranty Agreement,
Guarantor agrees to pay to Administrative Agent and Lender Parties all reasonable costs and expenses incurred by Administrative Agent and Lender Parties in the enforcement of this Guaranty Agreement from time to time, including, without limitation,
reasonable attorneys fees. 
 18. GOVERNING LAW; VENUE; WAIVER OF JURY TRIAL. 

(a) THIS GUARANTY AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE STATE OF
TEXAS, WITHOUT REFERENCE TO THE RULES THEREOF RELATING TO CONFLICTS OF LAW. GUARANTOR HEREBY IRREVOCABLY SUBMITS ITSELF TO THE NON-EXCLUSIVE 

  

			
	GUARANTY AGREEMENT (PARENT) - Page 8	  	

 
JURISDICTION OF THE STATE AND FEDERAL COURTS LOCATED IN DALLAS COUNTY, TEXAS AND AGREES AND CONSENTS THAT SERVICE OF PROCESS MAY BE MADE UPON HIM IN ANY LEGAL PROCEEDING RELATING TO THIS
GUARANTY AGREEMENT OR ANY OTHER RELATIONSHIP BETWEEN ADMINISTRATIVE AGENT, ANY OTHER LENDER PARTY AND GUARANTOR BY ANY MEANS ALLOWED UNDER STATE OR FEDERAL LAW. ANY LEGAL PROCEEDING ARISING OUT OF OR IN ANY WAY RELATED TO THIS GUARANTY AGREEMENT OR
ANY OTHER RELATIONSHIP BETWEEN ADMINISTRATIVE AGENT, ANY OTHER LENDER PARTY AND GUARANTOR MAY BE BROUGHT AND LITIGATED IN ANY ONE OF THE STATE OR FEDERAL COURTS LOCATED IN DALLAS COUNTY, TEXAS HAVING JURISDICTION. THE PARTIES HERETO HEREBY WAIVE AND
AGREE NOT TO ASSERT, BY WAY OF MOTION, AS A DEFENSE OR OTHERWISE, THAT ANY SUCH PROCEEDING IS BROUGHT IN AN INCONVENIENT FORUM OR THAT THE VENUE THEREOF IS IMPROPER. 

(b) GUARANTOR (AND ADMINISTRATIVE AGENT AND EACH OTHER LENDER PARTY BY ITS ACCEPTANCE OF THIS GUARANTY AGREEMENT) HEREBY
(i) IRREVOCABLY WAIVES, TO THE MAXIMUM EXTENT NOT PROHIBITED BY LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY AT ANY TIME ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS GUARANTY AGREEMENT OR
ANY TRANSACTION CONTEMPLATED HEREBY OR ASSOCIATED HEREWITH; (ii) IRREVOCABLY WAIVES, TO THE MAXIMUM EXTENT NOT PROHIBITED BY LAW, ANY RIGHT IT MAY HAVE TO CLAIM OR RECOVER IN ANY SUCH LITIGATION ANY SPECIAL, EXEMPLARY, PUNITIVE OR CONSEQUENTIAL
DAMAGES, OR DAMAGES OTHER THAN, OR IN ADDITION TO, ACTUAL DAMAGES; (iii) CERTIFIES THAT NO PARTY HERETO NOR ANY REPRESENTATIVE OR AGENT OR COUNSEL FOR ANY PARTY HERETO HAS REPRESENTED, EXPRESSLY OR OTHERWISE, OR IMPLIED THAT SUCH PARTY WOULD
NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVERS; AND (D) ACKNOWLEDGES THAT IT HAS BEEN INDUCED TO ENTER INTO THIS GUARANTY AGREEMENT AND THE TRANSACTIONS CONTEMPLATED HEREBY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND
CERTIFICATIONS CONTAINED IN THIS SECTION.  
 19. NO ORAL AGREEMENTS.  THIS
GUARANTY AGREEMENT REPRESENTS THE FINAL AGREEMENT BETWEEN GUARANTOR, ADMINISTRATIVE AGENT AND LENDERS RELATING TO THE SUBJECT MATTER HEREOF AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OF SUCH
PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN GUARANTOR AND ADMINISTRATIVE AGENT. THIS GUARANTY AGREEMENT SUPERSEDES ALL PRIOR (IF ANY) ORAL AGREEMENTS, ARRANGEMENTS, OR UNDERSTANDINGS RELATING TO THE SUBJECT MATTER HEREOF. 

20. Notices.  All notices or demands by any party relating to this Guaranty Agreement shall be in writing and
(except for financial statements and other informational documents which may be sent by first-class mail, postage prepaid) shall be (a) personally delivered, (b) sent by registered or certified mail, postage prepaid, return receipt
requested, or (c) sent by receipted overnight delivery service or (d) sent by telecopy, to Guarantor or to Administrative Agent, as the case may be, at their addresses and fax numbers set forth below: 

 

			
	 If to Guarantor:
	  	 Mad Catz Interactive, Inc.

  

			
	GUARANTY AGREEMENT (PARENT) - Page 9	  	

			
		  	10680 Treena Street, Suite 500
		  	San Diego, California 92131
		  	Attn: Legal and Finance Department
		  	Telephone No.: 858-790-5008
		  	Facsimile No.: 858-790-5018
		
	 If to Administrative Agent:
	  	 NewStar Business Credit, LLC

		  	8401 N. Central Expressway, Suite 600
		  	Dallas, TX 75225
		  	Attn: Portfolio Manager, URGENT
		  	Facsimile No.: 214-242-5840
		
		  	With a copy to:
		
		  	 Greenberg Traurig, LLP

		  	 2200 Ross Avenue, Suite 5200

		  	 Dallas, TX 75201

		  	 Attn: Heather Moulder, Esq.

		  	Telephone No.: 214-655-3614
		  	Facsimile No.: 214-665-3601

 Any such address or fax number may be changed by notice in writing in the foregoing manner given to the other.
All notices or demands sent in accordance with this Section 21 shall be deemed received on the earlier of (y) the date of actual receipt or (z) three (3) business days after the deposit thereof in the mail or one
(1) business day after deposit thereof with an overnight delivery service. 
 21. Survival.  All
representations, warranties, covenants, and agreements of Guarantor in this Guaranty Agreement shall survive the execution of this Guaranty Agreement. 

22. Counterparts.  This Guaranty Agreement may be executed in any number of counterparts and a telecopy or
other electronic transmission of any such executed counterpart shall be deemed valid as an original. 
 REMAINDER OF PAGE INTENTIONALLY
LEFT BLANK 
 SIGNATURE PAGE TO FOLLOW 

  

			
	GUARANTY AGREEMENT (PARENT) - Page 10	  	

 IN WITNESS WHEREOF, the undersigned has executed this Guaranty Agreement as of
the effective date specified in the introductory paragraph hereinabove. 
  

			
	GUARANTOR:
	
	MAD CATZ INTERACTIVE, INC.
		
	By:	 	  /s/ Darren Richardson

			
	Name:	 	  Darren Richardson

			
	Title:	 	  President & CEO

  

			
	GUARANTY AGREEMENT (PARENT) - Page 11

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