Document:

EXHIBIT 10.1

 

EXECUTION COPY

 

Published
CUSIP Numbers

Deal: 29443BAE9

Facility: 29443BAF6

 

364-DAY CREDIT AGREEMENT

 

Dated as of December 1, 2012

 

among

 

EQUIFAX INC.,

as the Borrower,

 

BANK OF AMERICA, N.A.,

as Administrative Agent,

 

and

The Other Lenders From Time To Time Party
Hereto

_________________________________________________________________________

 

MERRILL LYNCH, PIERCE, FENNER & SMITH
INCORPORATED,

J.P. MORGAN SECURITIES LLC,

SUNTRUST ROBINSON HUMPHREY, INC.

and

WELLS FARGO SECURITIES, LLC,

as Joint Lead Arrangers

 

and

 

JPMORGAN CHASE BANK, N.A.,

SUNTRUST BANK

and

WELLS FARGO BANK, N.A.,

as Co-Syndication Agents

 

    	 

    	 

    

 

Table
of Contents

 

	 	 	Page
	 	 	 
	ARTICLE I.	DEFINITIONS AND ACCOUNTING TERMS	1
	 	 	 
	1.01	Defined Terms	1
	1.02	Other Interpretive Provisions	23
	1.03	Accounting Terms	24
	1.04	Rounding	25
	1.05	Times of Day	25
	1.06	Letter of Credit Amounts	25
	 	 	 
	ARTICLE II.	the COMMITMENTS and Credit Extensions	25
	 	 	 
	2.01	Committed Loans	25
	2.02	Borrowings, Conversions and Continuations of Committed Loans	26
	2.03	Letters of Credit	27
	2.04	Swing Line Loans	36
	2.05	Prepayments	38
	2.06	Termination or Reduction of Commitments	39
	2.07	Repayment of Loans	40
	2.08	Interest	40
	2.09	Fees	41
	2.10	Computation of Interest and Fees	42
	2.11	Evidence of Debt	42
	2.12	Payments Generally; Administrative Agent’s Clawback	42
	2.13	Sharing of Payments by Lenders	44
	2.14	Cash Collateral	45
	2.15	Defaulting Lenders	46
	 	 	 
	ARTICLE III.	TAXES, YIELD PROTECTION AND ILLEGALITY	48
	 	 	 
	3.01	Taxes	48
	3.02	Illegality	53
	3.03	Inability to Determine Rates	53
	3.04	Increased Costs; Reserves on Eurodollar Rate Loans	54
	3.05	Compensation for Losses	56
	3.06	Mitigation Obligations; Replacement of Lenders	56
	3.07	Survival	57
	 	 	 
	ARTICLE IV.	CONDITIONS PRECEDENT TO Credit Extensions	57
	 	 	 
	4.01	Conditions of Initial Credit Extension	57
	4.02	Conditions to all Credit Extensions	59
	 	 	 
	ARTICLE V.	REPRESENTATIONS AND WARRANTIES	60
	 	 	 
	5.01	Representations and Warranties	60
	5.02	Survival of Representations and Warranties, Etc	66

 

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	ARTICLE VI.	FINANCIAL INFORMATION AND NOTICES	66
	 	 	 
	6.01	Financial Statements, Etc	66
	6.02	Officer’s Compliance Certificate	68
	6.03	Accountants’ Certificate	68
	6.04	Other Reports	68
	6.05	Notice of Litigation and Other Matters	68
	6.06	Ratings Information	69
	6.07	Accuracy of Information	69
	 	 	 
	ARTICLE VII.	AFFIRMATIVE COVENANTS	69
	 	 	 
	7.01	Preservation of Corporate Existence and Related Matters	69
	7.02	Maintenance of Property	70
	7.03	Insurance	70
	7.04	Accounting Methods and Financial Records	70
	7.05	Payment and Performance of Obligations	70
	7.06	Compliance With Laws and Approvals	70
	7.07	Environmental Laws	71
	7.08	Compliance with ERISA; ERISA Notices	71
	7.09	Conduct of Business	72
	7.10	Visits and Inspections	72
	7.11	Use of Proceeds	72
	 	 	 
	ARTICLE VIII.	NEGATIVE COVENANTS	72
	 	 	 
	8.01	Maximum Leverage Ratio	73
	8.02	Liens	73
	8.03	Limitations on Subsidiary Debt	75
	8.04	Limitations on Mergers and Liquidation.	76
	8.05	Limitation on Asset Dispositions	76
	8.06	Limitations on Acquisitions	76
	8.07	Limitation on Restricted Investments	77
	8.08	Limitation on Restricted Payments	77
	8.09	Limitation on Transactions with Affiliates	77
	8.10	Limitation on Certain Accounting Changes	77
	8.11	Limitation of Restricting Subsidiary Dividends and Distributions	77
	8.12	Hedging Agreements	78
	 	 	 
	ARTICLE IX.	EVENTS OF DEFAULT AND REMEDIES	78
	 	 	 
	9.01	Events of Default	78
	9.02	Remedies Upon Event of Default	80
	9.03	Rights and Remedies Cumulative; Non-Waiver; etc	81
	9.04	Application of Funds	81
	 	 	 
	ARTICLE X.	ADMINISTRATIVE AGENT	82
	 	 	 
	10.01	Appointment and Authority	82
	10.02	Rights as a Lender	83
	10.03	Exculpatory Provisions	83
	10.04	Reliance by Administrative Agent	84

 

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	10.05	Delegation of Duties	84
	10.06	Resignation of Administrative Agent	85
	10.07	Non-Reliance on Administrative Agent and Other Lenders	85
	10.08	No Other Duties, Etc	86
	10.09	Administrative Agent May File Proofs of Claim	86
	 	 	 
	ARTICLE XI.	MISCELLANEOUS	86
	 	 	 
	11.01	Amendments, Etc	86
	11.02	Notices; Effectiveness; Electronic Communication	88
	11.03	No Waiver; Cumulative Remedies; Enforcement	90
	11.04	Expenses; Indemnity; Damage Waiver	91
	11.05	Payments Set Aside	93
	11.06	Successors and Assigns	93
	11.07	Treatment of Certain Information; Confidentiality	98
	11.08	Right of Setoff	99
	11.09	Interest Rate Limitation	99
	11.10	Counterparts; Integration; Effectiveness	99
	11.11	Survival of Representations and Warranties	100
	11.12	Severability	100
	11.13	Replacement of Lenders	100
	11.14	Governing Law; Jurisdiction; Etc	101
	11.15	Waiver of Jury Trial	101
	11.16	No Advisory or Fiduciary Responsibility	102
	11.17	Electronic Execution of Assignments and Certain Other Documents	102
	11.18	USA PATRIOT Act	102
	11.19	No Letters of Credit and Swing Line Loans	103
	 	 	 
	SIGNATURES	S-1

 

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SCHEDULES

 

	 	2.01	Commitments and Applicable Percentages
	 	5.01(b)	Subsidiaries of the Borrower 
	 	5.01(h)	Environmental Matters
	 	5.01(p)	Debt and Support Obligations of the Borrower and any Subsidiary
	 	8.02	Liens as of Closing Date
	 	11.02	Administrative Agent’s Office; Certain Addresses for Notices

 

EXHIBITS

 

	 	 	Form of
	 	 	 
	 	A	Committed Loan Notice
	 	B	Note
	 	C	Officer’s Compliance Certificate
	 	D-1	Assignment and Assumption
	 	D-2	Administrative Questionnaire
	 	E	Forms of U.S. Tax Compliance Certificates

 

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CREDIT AGREEMENT

 

This CREDIT AGREEMENT
(this “Agreement”) is entered into as of December 1, 2012, among EQUIFAX INC.,
a Georgia corporation (the “Borrower”), each lender from time to time party hereto (collectively, the “Lenders”
and individually, a “Lender”), and BANK OF AMERICA, N.A., as Administrative Agent.

 

STATEMENT OF PURPOSE

 

WHEREAS, the Borrower
has requested that the Lenders provide a revolving credit facility, and the Lenders are willing to do so on the terms and conditions
set forth herein.

 

NOW, THEREFORE, in
consideration of the mutual covenants and agreements herein contained, the parties hereto covenant and agree as follows:

 

ARTICLE
I.

DEFINITIONS
AND ACCOUNTING TERMS

 

1.01         Defined
Terms. As used in this Agreement, the following terms shall have the meanings set forth below:

 

“Act”
shall have the meaning specified in Section 11.18.

 

“Administrative
Agent” means Bank of America in its capacity as administrative agent under any of the Loan Documents, or any successor
administrative agent.

 

“Administrative
Agent’s Office” means the Administrative Agent’s address and, as appropriate, account as set forth on Schedule
11.02, or such other address or account as the Administrative Agent may from time to time notify to the Borrower and the Lenders.

 

“Administrative
Questionnaire” means an Administrative Questionnaire in substantially the form of Exhibit D-2 or any other form
approved by the Administrative Agent.

 

“Affiliate”
means, with respect to any Person, any other Person which directly or indirectly through one or more intermediaries (a) controls,
or is controlled by, or is under common control with, such first Person or any of its Subsidiaries or (b) owns or holds ten
percent (10%) or more of the Capital Stock in such first Person or any of its Subsidiaries. The term “control” means
the possession, directly or indirectly, of any power to direct or cause the direction of the management and policies of a Person,
whether through ownership of voting securities, by contract or otherwise.

 

“Aggregate
Commitments” means the Commitments of all the Lenders. The Aggregate Commitments on the Closing Date shall be Three Hundred
Fifty Million Dollars ($350,000,000).

 

“Agreement”
has the meaning specified in the introductory paragraph hereto.

 

    	 

    	 

    

“Applicable
Percentage” means with respect to any Lender at any time, the percentage (carried out to the ninth decimal place) of
the Aggregate Commitments represented by such Lender’s Commitment at such time, subject to adjustment as provided in Section
2.15. If the commitment of each Lender to make Loans and the obligation of the L/C Issuer to make L/C Credit Extensions have
been terminated pursuant to Section 9.02 or if the Aggregate Commitments have expired, then the Applicable Percentage of
each Lender shall be determined based on the Applicable Percentage of such Lender most recently in effect, giving effect to any
subsequent assignments. The initial Applicable Percentage of each Lender is set forth opposite the name of such Lender on Schedule
2.01 or in the Assignment and Assumption pursuant to which such Lender becomes a party hereto, as applicable.

 

“Applicable
Rate” means, from time to time, the following percentages per annum, based upon the Debt Rating as set forth below:

 

	Applicable Rate
	Pricing 
Level	 	Debt Ratings 
S&P/Moody’s	 	Commitment

Fee	 	 	Eurodollar 

Rate Loans

and 
Letter of 

Credit Fees	 	 	Base Rate

Loans	 
	1	 	A/A2 or better	 	 	0.080	%	 	 	0.875	%	 	 	0.000	%
	2	 	A-/A3	 	 	0.100	%	 	 	1.000	%	 	 	0.000	%
	3	 	BBB+/Baa1	 	 	0.125	%	 	 	1.125	%	 	 	0.125	%
	4	 	BBB/Baa2	 	 	0.150	%	 	 	1.250	%	 	 	0.250	%
	5	 	BBB-/Baa3 or worse	 	 	0.200	%	 	 	1.500	%	 	 	0.500	%

 

“Debt
Rating” means, as of any date of determination, the rating as determined by either S&P or Moody’s of
the Borrower’s non-credit-enhanced, senior unsecured long-term debt; provided that (a) if the respective Debt Ratings
issued by the foregoing rating agencies differ by one level, then the Pricing Level for the higher
of such Debt Ratings shall apply (with the Debt Rating for Pricing Level 1 being the highest and the Debt Rating for Pricing Level
5 being the lowest); (b) if there is a split in Debt Ratings of more than one level, then the Pricing Level that is one level lower
than the Pricing Level of the higher Debt Rating shall apply; (c) if the Borrower has only one Debt Rating (i) as a result
of either S&P or Moody’s failure to continue to rate any issuer’s non-credit-enhanced, senior unsecured long-term
debt, then the Pricing Level shall be based on such Debt Rating that remains available (e.g., if Moody’s Debt Rating corresponds
to Pricing Level 1 and S&P is no longer in the business of rating any issuer’s non-credit-enhanced, senior unsecured
long-term debt, then Pricing Level 1 shall apply) or (ii) for any other reason, then the Pricing Level that is one level lower
than that of such Debt Rating shall apply; and (d) if the Borrower does not have any Debt Rating, Pricing Level 5 shall apply until
the earlier of (A) such time as S&P and/or Moody’s provides another Debt Rating or (B) the Required Lenders have agreed
to an alternative pricing grid or other method for determining Pricing Levels pursuant to an effective amendment to this Agreement.

 

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Initially, the Applicable Rate shall be
determined based upon the Debt Rating for Pricing Level 3. Thereafter, each change in the Applicable Rate resulting from a publicly
announced change in the Debt Rating shall be effective, in the case of an upgrade, during the period commencing on the date of
delivery by the Borrower to the Administrative Agent of notice thereof pursuant to Section 6.06 and ending on the date immediately
preceding the effective date of the next such change and, in the case of a downgrade, during the period commencing on the date
of the public announcement thereof and ending on the date immediately preceding the effective date of the next such change.

 

“Approved
Fund” means any Fund that is administered or managed by (a) a Lender, (b) an Affiliate of a Lender or (c) an entity or
an Affiliate of an entity that administers or manages a Lender.

 

“Arrangers”
means MLPFSI, JPMSL, STRH and WFSL in their capacities as joint lead arrangers under the Agreement.

 

“Asset Disposition”
means the disposition of any or all of the assets (including without limitation the disposition of accounts and notes receivable,
the sale of the Capital Stock of a Subsidiary to a Person other than the Borrower or a Subsidiary of the Borrower and any Equity
Issuance of Capital Stock of a Subsidiary to a Person other than the Borrower or a Subsidiary of the Borrower) of the Borrower
or any of its Subsidiaries whether by sale, lease, transfer or otherwise. The term “Asset Disposition” shall not include
(a) the sale of inventory or Cash Equivalents in the ordinary course of business, (b) the sale or disposition of fixed
assets no longer used or useful in the conduct of such Person’s business, (c) any Equity Issuance of Capital Stock of
the Borrower, (d) transfers of assets to the Borrower or from a Subsidiary of the Borrower to a Wholly-Owned Subsidiary of the
Borrower, (e) transfers of assets required in connection with any Permitted Securitization Transaction or (f) transfers of assets
which individually account for less than $1,000,000 of the Consolidated Operating Profit for the immediately preceding Fiscal Year.

 

“Assignee
Group” means two or more Eligible Assignees that are Affiliates of one another or two or more Approved Funds managed
by the same investment advisor.

 

“Assignment
and Assumption” means an assignment and assumption entered into by a Lender and an assignee (with the consent of any
party whose consent is required by Section 11.06(b)), and accepted by the Administrative Agent, in substantially the form
of Exhibit D-1 or any other form (including electronic documentation generated by MarkitClear or another electronic platform)
approved by the Administrative Agent.

 

“Audited Financial
Statements” means the audited consolidated balance sheet of the Borrower and its Subsidiaries for the fiscal year ended
December 31, 2011, and the related consolidated statements of income or operations, shareholders’
equity and cash flows for such fiscal year of the Borrower and its Subsidiaries, including the notes thereto.

 

“Auto-Extension
Letter of Credit” has the meaning specified in Section 2.04(b)(iii).

 

“Availability
Period” means the period from and including the Closing Date to the earliest of (a) the Maturity Date, (b) the date of
termination of the Aggregate Commitments pursuant to Section 2.07, and (c) the date of termination of the commitment of
each Lender to make Loans and of the obligation of the L/C Issuer to make L/C Credit Extensions pursuant to Section 9.02.

 

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“Bank of America”
means Bank of America, N.A. and its successors.

 

“Bankruptcy
Event” means any of the events set forth in Section 9.01(i) or (j) or any of those events which with the
passage of time, the giving of notice or any other condition would constitute such an event, in respect of the Borrower or any
of its Subsidiaries.

 

“Base Rate”
means for any day a fluctuating rate per annum equal to the highest of (a) the Federal Funds Rate plus 1/2 of 1%, (b) the rate
of interest in effect for such day as publicly announced from time to time by Bank of America as its “prime rate”,
and (c) the Eurodollar Rate plus 1.00%. The “prime rate” is a rate set by Bank of America based upon various factors
including Bank of America’s costs and desired return, general economic conditions and other factors, and is used as a reference
point for pricing some loans, which may be priced at, above, or below such announced rate. Any change in such prime rate announced
by Bank of America shall take effect at the opening of business on the day specified in the public announcement of such change.

 

“Base Rate
Committed Loan” means a Committed Loan that is a Base Rate Loan.

 

“Base Rate
Loan” means a Loan that bears interest based on the Base Rate. All Base Rate Loans shall be denominated in Dollars.

 

“Borrower”
has the meaning specified in the introductory paragraph hereto.

 

“Borrower
Materials” has the meaning specified in Section 6.01(c).

 

“Borrowing”
means a Committed Borrowing or a Swing Line Borrowing, as the context may require.

 

“Business
Day” means any day other than a Saturday, Sunday or other day on which commercial banks are authorized to close under
the Laws of, or are in fact closed in, the state where the Administrative Agent’s Office is located and, if such day relates
to any Eurodollar Rate Loan, means any such day that is also a London Banking Day.

 

“Capital Lease”
means, with respect to any Person, any lease of any property that should, in accordance with GAAP, be classified and accounted
for as a capital lease on a Consolidated balance sheet of such Person and its Consolidated Subsidiaries.

 

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

 

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“Cash Collateralize”
means to pledge and deposit with or deliver to the Administrative Agent, for the benefit of the Administrative Agent, L/C Issuer
or Swing Line Lender (as applicable) and the Lenders, as collateral for L/C Obligations, Obligations in respect of Swing Line Loans,
or obligations of Lenders to fund participations in respect of either thereof (as the context may require), cash or deposit account
balances or, if the L/C Issuer or Swing Line Lender benefitting from such collateral shall agree in its sole discretion, other
credit support, in each case to the extent required pursuant to this Agreement and pursuant to documentation in form and substance
satisfactory to (a) the Administrative Agent and (b) the L/C Issuer or the Swing Line Lender (as applicable). “Cash Collateral”
shall have a meaning correlative to the foregoing and shall include the proceeds of such cash collateral and other credit support.

 

“Cash Equivalent”
means (a) securities issued or directly and fully guaranteed or insured by the United States of America or any agency or instrumentality
thereof (provided that the full faith and credit of the United States of America is pledged in support thereof) having maturities
of not more than 12 months from the date of acquisition; (b) U.S. dollar denominated time and demand deposits and certificates
of deposit of (i) any Lender, (ii) any domestic commercial bank having capital and surplus in excess of $500,000,000
or (iii) any bank whose short-term commercial paper rating from S&P is at least A-1 or the equivalent thereof or from
Moody’s is at least P-1 or the equivalent thereof (any such bank being an “Approved Bank”), in each case
with maturities of not more than 270 days from the date of acquisition; (c) commercial paper and variable or fixed rate notes
issued by any Approved Bank (or by the parent company thereof) or any variable rate notes issued by, or guaranteed by, any domestic
corporation rated A-1 (or the equivalent thereof) or better by S&P or P-1 (or the equivalent thereof) or better by Moody’s
and maturing within six months of the date of acquisition; (d) repurchase agreements with a bank or trust company (including
any of the Lenders) or securities dealer having capital and surplus in excess of $500,000,000 for direct obligations issued by
or fully guaranteed by the United States of America in which the Borrower shall have a perfected first priority security interest
(subject to no other Liens) and having, on the date of purchase thereof, a fair market value of at least 100% of the amount of
the repurchase obligations; and (e) Investments, classified in accordance with GAAP as current assets, in money market investment
programs registered under the Investment Company Act of 1940, as amended, which are administered by financial institutions having
capital of at least $500,000,000 and the portfolios of which are limited to Investments of the character described in the foregoing
clauses (a) through (d).

 

“Change in
Control” has the meaning specified in Section 9.01(h).

 

“Change in
Law” means the occurrence, after the date of this Agreement, of any of the following: (a) the adoption or taking effect
of any law, rule, regulation or treaty; (b) any change in any law, rule, regulation or treaty or in the administration, interpretation
or application thereof by any Governmental Authority; or (c) the making or issuance of any request, guideline or directive (whether
or not having the force of law) by any Governmental Authority; provided that notwithstanding anything herein to the contrary,
(x) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines or directives thereunder
or issued in connection therewith and (y) all requests, rules, guidelines or directives promulgated by the Bank for International
Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or the United States or foreign
regulatory authorities, in each case pursuant to Basel III, shall in each case be deemed to be a “Change in Law”, regardless
of the date enacted, adopted or issued.

 

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“Closing Date”
means the first date all the conditions precedent in Section 4.01 are satisfied or waived in accordance with Section
11.01.

 

“Code”
means the Internal Revenue Code of 1986.

 

“Commitment”
means, as to each Lender, its obligation to (a) make Committed Loans to the Borrower pursuant to Section 2.01, (b) purchase
participations in L/C Obligations, and (c) purchase participations in Swing Line Loans, in an aggregate principal amount at any
one time outstanding not to exceed the Dollar amount set forth opposite such Lender’s name
on Schedule 2.01 or in the Assignment and Assumption pursuant to which such Lender becomes a party hereto, as applicable,
as such amount may be adjusted from time to time in accordance with this Agreement.

 

“Committed
Borrowing” means a borrowing consisting of simultaneous Committed Loans of the same Type, and, in the case of Eurodollar
Rate Loans, having the same Interest Period made by each of the Lenders pursuant to Section 2.01.

 

“Committed
Loan” has the meaning specified in Section 2.01.

 

“Committed
Loan Notice” means a notice of (a) a Committed Borrowing, (b) a conversion of Committed Loans from one Type to the other,
or (c) a continuation of Eurodollar Rate Loans, pursuant to Section 2.02(a), which, if in writing, shall be substantially
in the form of Exhibit A.

 

“Connection
Income Taxes” means Other Connection Taxes that are imposed on or measured by net income (however denominated) or that
are franchise Taxes or branch profits Taxes.

 

“Consolidated”
means, when used with reference to financial statements or financial statement items of a Person and its Subsidiaries, such statements
or items on a consolidated basis in accordance with applicable principles of consolidation under GAAP.

 

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“Consolidated
EBITDA” means, for any period, as applied to the Borrower and its Consolidated Subsidiaries without duplication, the
sum of the amounts for such period of: (a) Consolidated Net Income, plus (b) an amount which, in the determination of Consolidated
Net Income has been deducted for (i) Consolidated Interest Expense, (ii) all federal and state income tax expense, (iii) depreciation
and amortization expense, and (iv) all other non-cash charges, all of the foregoing as determined and computed on a Consolidated
basis in accordance with GAAP; provided that for purposes of calculating Consolidated EBITDA of the Borrower for any period
of four consecutive fiscal quarters (each, a “Reference Period”) pursuant to any determination of the Leverage
Ratio, (A) the Consolidated EBITDA of (or attributable to) (1) any other Person, (2) all or substantially all of the business
or assets of any other Person or (3) operating division or business unit of any other Person, acquired by, or merged into or consolidated
with, the Borrower or one of its Consolidated Subsidiaries during such Reference Period, in each case under this clause (A),
shall be included on a pro forma basis for such Reference Period as if such acquisition, merger or consolidation in connection
therewith occurred on the first day of such Reference Period and (B) the Consolidated EBITDA of (or attributable to) (1) any Consolidated
Subsidiary whose Capital Stock is sold or otherwise transferred to any Person other than to the Borrower or to a Consolidated Subsidiary
of the Borrower during such Reference Period such that as a result of such sale or transfer such Consolidated Subsidiary ceases
to be a Subsidiary of the Borrower, (2) assets (whether all or substantially all) of the Borrower or any Consolidated Subsidiary
sold, leased or otherwise transferred to any Person other than to the Borrower or to a Subsidiary of the Borrower during such Reference
Period or (3) an operating division or business unit of the Borrower or any Consolidated Subsidiary sold, leased or otherwise transferred
to any Person other than to the Borrower or to a Consolidated Subsidiary of the Borrower during such Reference Period, in each
case under this clause (B), shall be excluded on a pro forma basis for such Reference Period as if the consummation
of such sale, lease or other transfer occurred on the first day of such Reference Period so long as the Consolidated EBITDA of
(or attributable to) such Capital Stock, asset, operating division or business unit sold or otherwise transferred, exceeds 5% of
Consolidated Operating Profit for the immediately preceding Fiscal Year.

 

“Consolidated
Funded Debt” means, as of any date, without duplication, all Debt of the Borrower and its Consolidated Subsidiaries
of the type referred to in clauses (a), (b), (f), (g), (h), (i), (j) (but in the
case of clause (j), only to the extent of any drawn amount of such letters of credit) and (l) and (m)
of the definition of “Debt” set forth in this Section 1.01, all of the foregoing as determined and computed
on a Consolidated basis in accordance with GAAP. Any Debt described in clauses (l) and (m) of the definition of Debt
shall be included in the calculation of Consolidated Funded Debt even if the applicable Subsidiary (including any Permitted Securitization
Subsidiary) is not consolidated under GAAP.

 

“Consolidated
Interest Expense” means, for any period, as applied to the Borrower and its Consolidated Subsidiaries, for any period
determined on a consolidated basis in accordance with GAAP, the sum of (a) total interest expense, including without limitation
the interest component of any payments in respect of capital leases capitalized or expensed during such period (whether
or not actually paid during such period) plus (b) the net amount payable (or minus the net amount receivable)
under Hedging Agreements during such period (whether or not actually paid or received during such period), in each case as determined
and computed on a Consolidated basis in accordance with GAAP.

 

“Consolidated
Net Income” means, for any period, the net income, after taxes, of the Borrower and its Consolidated Subsidiaries for
such period as determined and computed on a Consolidated basis in accordance with GAAP.

 

“Consolidated
Net Tangible Assets” means, as of any date, Consolidated Total Assets, less the sum of the value, as set forth or reflected
in the most recent Consolidated balance sheet of the Borrower and its Consolidated Subsidiaries, prepared in accordance with GAAP
of:

 

(a)          All
assets which would be treated as intangible assets for balance sheet presentation purposes under GAAP, excluding “Purchased
Data Files,” but including, without limitation, goodwill (as determined by the Borrower in a manner consistent with its past
accounting practices and in accordance with GAAP), trademarks, tradenames, copyrights, patents and technologies, and unamortized
debt discount and expense;

 

    	7

    	 

    

 

(b)          To
the extent not included in clause (a) of this definition, any amount at which shares of Capital Stock of the Borrower
appear as an asset on the balance sheet of its Consolidated Subsidiaries; and

 

(c)          To
the extent not included in clause (a) of this definition, deferred expenses.

 

“Consolidated
Operating Profit” means, for any period, the Operating Profit of the Borrower and its Consolidated Subsidiaries, all
of the foregoing as determined and computed on a Consolidated basis in accordance with GAAP.

 

“Consolidated
Subsidiary” means, at any date, any Subsidiary or other entity the accounts of which, in accordance with GAAP, are Consolidated
with those of the Borrower in its Consolidated financial statements as of such date.

 

“Consolidated
Total Assets” means, as of any date, the assets and properties of the Borrower and its Consolidated Subsidiaries, as
determined and computed on a Consolidated basis in accordance with GAAP.

 

“Credit Extension”
means each of the following: (a) a Borrowing and (b) an L/C Credit Extension.

 

“CSC”
means Computer Sciences Corporation, a Nevada corporation.

 

“CSC Agreement”
means the Agreement for Computerized Credit Reporting Services and Options to Purchase and Sell Assets, dated as of the 1st day
of August, 1988, among EIS, the Borrower, CSC and certain other parties, as the same may be amended, amended and restated, supplemented
or otherwise modified from time to time.

 

“CSC Put”
means the right of certain subsidiaries of CSC under the CSC Agreement to require EIS to purchase their credit reporting businesses
within 180 days after notice.

 

“Debt”
of any Person means at any date, without duplication:

 

(a)          all
obligations of such Person for borrowed money;

 

(b)          all
obligations of such Person evidenced by bonds, debentures, notes or similar instruments;

 

(c)          all
obligations of such Person under conditional sale or other title retention agreements relating to property purchased by such Person
(other than customary reservations or retentions of title under agreements with suppliers entered into in the ordinary course of
business);

 

    	8

    	 

    

 

(d)          all
obligations of such Person (i) issued or assumed as the deferred purchase price of Property or services purchased by such
Person (other than trade debt incurred in the ordinary course of business on terms customary in the trade) which would appear as
liabilities on a balance sheet of such Person or (ii) arising out of the CSC Put after the receipt by the Borrower or any
of its Subsidiaries of notice from CSC or any of its Subsidiaries regarding the intent to exercise the CSC Put;

 

(e)          all
obligations of such Person under take or pay or similar arrangements or under commodities agreements;

 

(f)          all
Debt of others secured by (or for which the holder of such Debt has an existing right, contingent or otherwise, to be secured by)
any Lien on, or payable out of the proceeds of production from, property owned or acquired by such Person, whether or not the obligations
secured thereby have been assumed; provided that for purposes hereof the amount of such Debt shall be limited to the greater
of (i) the amount of such Debt as to which there is recourse to such Person and (ii) the fair market value of the property
which is subject to the Lien;

 

(g)          all
Support Obligations of such Person with respect to a Debt of another Person;

 

(h)          the
principal portion of all obligations of such Person under Capital Leases;

 

(i)          all
net obligations of such Person in respect of Hedging Agreements;

 

(j)          the
maximum amount of all standby letters of credit issued or bankers’ acceptances facilities created for the account of such
Person and, without duplication, all drafts drawn thereunder (to the extent unreimbursed or not cash collateralized);

 

(k)          all
preferred stock issued by such Person and required by the terms thereof to be redeemed, or for which mandatory sinking fund payments
are due, by a fixed date;

 

(l)          the
outstanding attributed principal amount under any asset securitization program of such Person (including without limitation any
notes or accounts receivable financing program); and

 

(m)          the
principal balance outstanding under any synthetic lease, tax retention operating lease, off-balance sheet loan or similar off-balance
sheet financing product to which such Person is a party, where such transaction is considered borrowed money indebtedness for tax
purposes but is classified as an operating lease in accordance with GAAP.

 

The Debt of any Person
shall include the Debt of any partnership or joint venture in which such Person is a general partner or a joint venturer, but only
to the extent to which there is recourse to the assets (other than the ownership interest in such partnership or joint venture)
of such Person for payment of such Debt.

 

    	9

    	 

    

 

“Debtor Relief
Laws” means the Bankruptcy Code of the United States, and all other liquidation, conservatorship, bankruptcy, assignment
for the benefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization, or similar debtor relief Laws
of the United States or other applicable jurisdictions from time to time in effect and affecting the rights of creditors generally.

 

“Default”
means any of the events specified in Section 9.01 which, with the passage of time, the giving of notice or any other condition,
would constitute an Event of Default.

 

“Default Rate”
means (a) when used with respect to Obligations other than Letter of Credit Fees, an interest rate equal to (i) the Base Rate plus
(ii) the Applicable Rate, if any, applicable to Base Rate Loans plus (iii) 2% per annum; provided that with respect
to a Eurodollar Rate Loan, the Default Rate shall be an interest rate equal to the interest rate (including any Applicable Rate)
otherwise applicable to such Loan plus 2% per annum, and (b) when used with respect to Letter of Credit Fees, a rate equal to the
Applicable Rate plus 2% per annum.

 

“Defaulting
Lender” means, subject to Section 2.15(b), any Lender that (a) has failed to perform any of its funding obligations
hereunder, including in respect of its Loans or participations in respect of Letters of Credit or Swing Line Loans, within three
Business Days of the date required to be funded by it hereunder, unless such Lender has delivered written notice to the Administrative
Agent and the Borrower indicating that such obligation is the subject of a good faith dispute as to the satisfaction of one or
more conditions precedent to funding (which notice shall specifically identify the particular Default, if any), (b)
has notified the Borrower, the Administrative Agent or any Lender that it does not intend to comply with its funding obligations
or has made a public statement to that effect with respect to its funding obligations hereunder or generally under other agreements
in which it commits to extend credit, (c) has failed, within three Business Days after request by the Administrative Agent, to
confirm in a manner reasonably satisfactory to the Administrative Agent that it will comply with its funding obligations, or (d)
has, or has a direct or indirect parent company that has, (i) become the subject of a proceeding under any Debtor Relief Law, (ii)
had a receiver, conservator, trustee, administrator, assignee for the benefit of creditors or similar Person charged with reorganization
or liquidation of its business or a custodian appointed for it, or (iii) taken any action in furtherance of, or indicated its consent
to, approval of or acquiescence in any such proceeding or appointment (provided that a Lender shall not be a Defaulting
Lender solely by virtue of the ownership or acquisition of any equity interest in that Lender or any direct or indirect parent
company thereof by a Governmental Authority), in each case, as the Administrative Agent may reasonably determine based solely on
the foregoing. 

 

“Dollar”
and “$” mean lawful money of the United States.

 

“Domestic
Subsidiary” means any Subsidiary that is organized under the laws of any political subdivision of the United States.

 

“EIS”
means Equifax Information Services, LLC, formerly known as Equifax Credit Information Services, Inc.

 

    	10

    	 

    

 

“Eligible
Assignee” means any Person that meets the requirements to be an assignee under Section 11.06(b)(iii), and (v)
(subject to such consents, if any, as may be required under Section 11.06(b)(iii)).

 

“Environmental
Laws” means any and all Federal, state, local and foreign laws, statutes, ordinances, rules, regulations, permits, licenses,
approvals, binding interpretations and orders of courts or Governmental Authorities, relating to the protection of human health
or the environment, including, but not limited to, requirements pertaining to the manufacture, processing, distribution, use, treatment,
storage, disposal, transportation, handling, reporting, licensing, permitting, investigation or remediation of Hazardous Materials.

 

“Environmental
Liability” means any liability, contingent or otherwise (including any liability for damages, costs of environmental
remediation, fines, penalties or indemnities), of the Borrower or any of its Subsidiaries directly or indirectly resulting from
or based upon (a) violation of any Environmental Law; (b) the generation, use, handling, transportation, storage, treatment or
disposal of any Hazardous Materials; (c) exposure to any Hazardous Materials; (d) the release or threatened release of any Hazardous
Materials into the environment; or (e) any contract, agreement or other consensual arrangement pursuant to which liability is assumed
or imposed with respect to any of the foregoing.

 

“Environmental
Permits” shall have the meaning assigned thereto in Section 5.01(h)(iii).

 

“Equifax Canada”
has the meaning specified in the introductory paragraph hereto.

 

“Equifax Limited”
has the meaning specified in the introductory paragraph hereto.

 

“Equifax Luxembourg”
has the meaning specified in the introductory paragraph hereto.

 

“Equity Issuance”
means any issuance by the Borrower or any of its Subsidiaries to any Person other than the Borrower or any of its Subsidiaries
of (a) shares of its Capital Stock, (b) any shares of its Capital Stock pursuant to the exercise of options or warrants
or (c) any shares of its Capital Stock pursuant to the conversion of any debt securities to equity.

 

“ERISA”
means the Employee Retirement Income Security Act of 1974.

 

“ERISA Affiliate”
means any trade or business (whether or not incorporated) under common control with the Borrower within the meaning of Section
414(b) or (c) of the Code (and Sections 414(m) and (o) of the Code for purposes of provisions relating to Section 412 of the Code).

 

“ERISA Event”
means (a) a Reportable Event with respect to a Pension Plan; (b) the withdrawal of the Borrower or any ERISA Affiliate
from a Pension Plan subject to Section 4063 of ERISA during a plan year in which such entity was a “substantial employer”
as defined in Section 4001(a)(2) of ERISA or a cessation of operations that is treated as such a withdrawal under Section
4062(e) of ERISA; (c) a complete or partial withdrawal by the Borrower or any ERISA Affiliate from a Multiemployer Plan or
notification that a Multiemployer Plan is in reorganization; (d) the filing of a notice of intent to terminate or, the treatment
of a Pension Plan amendment as a termination under Section 4041 or 4041A of ERISA; (e) the institution by the PBGC of proceedings
to terminate a Pension Plan; (f) any event or condition which constitutes grounds under Section 4042 of ERISA for the
termination of, or the appointment of a trustee to administer, any Pension Plan; (g) the determination that any Pension Plan
is considered an at-risk plan or a plan in endangered or critical status within the meaning of Sections 430, 431 and 432 of the
Code or Sections 303, 304 and 305 of ERISA; or (h) the imposition of any liability under Title IV of ERISA, other than for
PBGC premiums due but not delinquent under Section 4007 of ERISA, upon the Borrower or any ERISA Affiliate.

 

    	11

    	 

    

 

 

“Eurodollar
Rate” means:

 

(a)          for
any Interest Period with respect to a Eurodollar Rate Loan, the rate per annum equal to (i) the British Bankers Association LIBOR
Rate or the successor thereto if the British Bankers Association is no longer making a LIBOR rate available (“LIBOR”),
as published by Reuters (or such other commercially available source providing quotations of LIBOR as may be designated by the
Administrative Agent from time to time) at approximately 11:00 a.m., London time, two London Banking Days prior to the commencement
of such Interest Period, for Dollar deposits (for delivery on the first day of such Interest Period) with a term equivalent to
such Interest Period or, (ii) if such rate is not available at such time for any reason, the rate per annum determined by the Administrative
Agent to be the rate at which deposits in Dollars for delivery on the first day of such Interest Period in same day funds in the
approximate amount of the Eurodollar Rate Loan being made, continued or converted and with a term equivalent to such Interest Period
would be offered by Bank of America’s London Branch to major banks in the London interbank eurodollar market at their request
at approximately 11:00 a.m. (London time) two London Banking Days prior to the commencement of such Interest Period; and

 

(b)          for
any interest calculation with respect to a Base Rate Loan on any date, the rate per annum equal to (i) LIBOR, at approximately
11:00 a.m., London time determined two London Banking Days prior to such date for Dollar deposits being delivered in the London
interbank market for a term of one month commencing that day or (ii) if such published rate is not available at such time for any
reason, the rate per annum determined by the Administrative Agent to be the rate at which deposits in Dollars for delivery on the
date of determination in same day funds in the approximate amount of the Base Rate Loan being made or maintained and with a term
equal to one month would be offered by Bank of America’s London Branch to major banks in the London interbank Eurodollar
market at their request at the date and time of determination.

 

“Eurodollar
Rate Loan” means a Committed Loan that bears interest at a rate based on clause (a) of the definition of “Eurodollar
Rate”.

 

“Event of
Default” means any of the events specified in Section 9.01, provided that any requirement for passage of time,
giving of notice, or any other condition, has been satisfied.

 

    	12

    	 

    

“Excluded
Taxes” means any of the following Taxes imposed on or with respect to any Recipient or required to be withheld or deducted
from a payment to a Recipient, (a) Taxes imposed on or measured by net income (however denominated), franchise Taxes, and branch
profits Taxes, in each case, (i) imposed as a result of such Recipient being organized under the laws of, or having its principal
office or, in the case of any Lender, its Lending Office located in, the jurisdiction imposing such Tax (or any political subdivision
thereof) or (ii) that are Other Connection Taxes, (b) in the case of a Lender, U.S. federal withholding Taxes imposed on amounts
payable to or for the account of such Lender with respect to an applicable interest in a Loan or Commitment pursuant to a law in
effect on the date on which (i) such Lender acquires such interest in the Loan or Commitment (other
than pursuant to an assignment request by the Borrower under Section 11.13) or
(ii) such Lender changes its Lending Office, except in each case to the extent that, pursuant to Section 3.01(a)(ii), (a)(iii)
or (c), amounts with respect to such Taxes were payable either to such Lender's assignor immediately before such Lender
became a party hereto or to such Lender immediately before it changed its Lending Office, (c) Taxes attributable to such Recipient’s
failure to comply with Section 3.01(e) and (d) any U.S. federal withholding Taxes imposed pursuant
to FATCA. 

 

“FASB ASC”
means the Accounting Standards Codification of the Financial Accounting Standards Board.

 

“FATCA”
means Sections 1471 through 1474 of the Code, as of the date of this Agreement (or any amended or successor
version that is substantively comparable and not materially more onerous to comply with), any current or future regulations
or official interpretations thereof and any agreements entered into pursuant to Section 1471 (b) (1) of the Code.

 

“Federal Funds
Rate” means, for any day, the rate per annum equal to the weighted average of the rates on overnight Federal funds transactions
with members of the Federal Reserve System arranged by Federal funds brokers on such day, as published by the Federal Reserve Bank
of New York on the Business Day next succeeding such day; provided that (a) if such day is not a Business Day, the Federal
Funds Rate for such day shall be such rate on such transactions on the next preceding Business Day as so published on the next
succeeding Business Day, and (b) if no such rate is so published on such next succeeding Business Day, the Federal Funds Rate for
such day shall be the average rate (rounded upward, if necessary, to a whole multiple of 1/100 of 1%) charged to Bank of America
on such day on such transactions as determined by the Administrative Agent.

 

“Fee Letter”
means the letter agreement, dated as of November 7, 2012 the Borrower, the Administrative Agent and MLPFSI.

 

“Fiscal Year”
means the fiscal year of the Borrower and its Subsidiaries ending on or about December 31.

 

“Foreign Lender”
means any Lender, with respect to the Borrower, that is organized under the Laws of a jurisdiction other than that in which the
Borrower is resident for tax purposes (including such a Lender when acting in the capacity of the L/C Issuer). For purposes of
this definition, the United States, each State thereof and the District of Columbia shall be deemed to constitute a single jurisdiction.

 

“Foreign Subsidiary”
means any Subsidiary that is organized under the laws of a jurisdiction other than the United States, a State thereof or the District
of Columbia.

 

    	13

    	 

    

 

 

“Fronting
Exposure” means, at any time there is a Defaulting Lender, (a) with respect to the L/C Issuer, such Defaulting Lender’s
Applicable Percentage of the outstanding L/C Obligations other than L/C Obligations as to which such Defaulting Lender’s
participation obligation has been reallocated to other Lenders or Cash Collateralized in accordance with the terms hereof, and
(b) with respect to the Swing Line Lender, such Defaulting Lender’s Applicable Percentage of Swing Line Loans other than
Swing Line Loans as to which such Defaulting Lender’s participation obligation has been reallocated to other Lenders or Cash
Collateralized in accordance with the terms hereof.

 

“Fund”
means any Person (other than a natural person) that is (or will be) engaged in making, purchasing, holding or otherwise investing
in commercial loans and similar extensions of credit in the ordinary course of its activities.

 

“GAAP”
means generally accepted accounting principles in the United States set forth in the opinions and pronouncements of the Accounting
Principles Board and the American Institute of Certified Public Accountants and statements and pronouncements of the Financial
Accounting Standards Board or such other principles as may be approved by a significant segment of the accounting profession in
the United States, that are applicable to the circumstances as of the date of determination, consistently applied.

 

“Governmental
Approvals” means all authorizations, consents, approvals, licenses and exemptions of, registrations and filings with,
and reports to, all Governmental Authorities.

 

“Governmental
Authority” means the government of the United States or any other nation, or of any political subdivision thereof, whether
state, provincial or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising
executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining to government (including
any supra-national bodies such as the European Union or the European Central Bank).

 

“Hazardous
Materials” means any substances or materials (a) which are or become regulated or defined as hazardous wastes, hazardous
substances, pollutants, contaminants, chemical substances or mixtures or toxic substances under any Environmental Law; (b) which
are toxic, explosive, corrosive, flammable, infectious, radioactive, carcinogenic, mutagenic or otherwise harmful to human health
or the environment and are or become regulated by any Governmental Authority; (c) the presence of which require investigation or
remediation under any Environmental Law; (d) the discharge or emission or release of which requires a permit or license under any
Applicable Law or other Governmental Approval; or (e) which contain, without limitation, asbestos, polychlorinated biphenyls, urea
formaldehyde foam insulation, petroleum hydrocarbons, petroleum derived substances or waste, crude oil, nuclear fuel, natural gas
or synthetic gas.

 

“Hedging Agreement”
means any agreement with respect to an interest rate swap, collar, cap, floor or forward rate agreement, foreign currency agreement
or other agreement regarding the hedging of interest rate risk exposure executed in connection with hedging the interest rate exposure
of any Person, and any confirming letter executed pursuant to such hedging agreement, all as amended, amended and restated, supplemented
or otherwise modified from time to time.

 

    	14

    	 

    

 

 

“Indemnified
Taxes” means (a) Taxes, other than Excluded Taxes, imposed on or with respect to any payment made by or on account of
any obligation of the Borrower under any Loan Document and (b) to the extent not otherwise described in clause (a), Other
Taxes.

 

“Indemnitees”
has the meaning specified in Section 11.04(b).

 

“Information”
has the meaning specified in Section 11.07.

 

“Interest
Payment Date” means, (a) as to any Loan other than a Base Rate Loan, the last day of each Interest Period applicable
to such Loan and the Maturity Date; provided that if any Interest Period for a Eurodollar Rate Loan exceeds three months,
the respective dates that fall every three months after the beginning of such Interest Period shall also be Interest Payment Dates;
and (b) as to any Base Rate Loan (including a Swing Line Loan), the last Business Day of each March,
June, September and December and the Maturity Date.

 

“Interest
Period” means as to each Eurodollar Rate Loan, the period commencing on the date such Eurodollar Rate Loan is disbursed
or converted to or continued as a Eurodollar Rate Loan and ending on the date one, two, three or six months thereafter, as selected
by the Borrower in its Committed Loan Notice or, in the case of Eurodollar Rate Loans, such other period
that is twelve months or less requested by the Borrower and consented to by all the Lenders; provided that:

 

(i)          any
Interest Period that would otherwise end on a day that is not a Business Day shall be extended to the next succeeding Business
Day unless such Business Day falls in another calendar month, in which case such Interest Period shall end on the next preceding
Business Day;

 

(ii)         any
Interest Period that begins on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding
day in the calendar month at the end of such Interest Period) shall end on the last Business Day of the calendar month at the end
of such Interest Period; and

 

(iii)        no
Interest Period shall extend beyond the Maturity Date.

 

“Investment”
in any Person means (a) the acquisition (whether for cash, property, services, assumption of Debt, securities or otherwise) of
shares of Capital Stock, bonds, notes, debentures, partnership, joint ventures or other ownership interests or securities issued
by such Person; (b) any deposit with, or advance, loan or other extension of credit to, such Person (other than those made in connection
with the purchase of equipment or other assets in the ordinary course of business); or (c) any other capital contribution to or
investment in such Person including, without limitation, any Support Obligation (including any support for a letter of credit issued
on behalf of such person) incurred for the benefit of such Person.

 

“IRS”
means the United States Internal Revenue Service.

 

“ISP”
means, with respect to any Letter of Credit, the “International Standby Practices 1998” published by the Institute
of International Banking Law & Practice, Inc. (or such later version thereof as may be in effect at the time of issuance).

 

    	15

    	 

    

 

 

“Issuer Documents”
means with respect to any Letter of Credit, the Letter of Credit Application, and any other document, agreement and instrument
entered into by the L/C Issuer and the Borrower (or any Subsidiary) or in favor of the L/C Issuer
and relating to such Letter of Credit.

 

“JPMSL”
means J.P. Morgan Securities LLC.

 

“Laws”
means, collectively, all international, foreign, Federal, state and local statutes, treaties, rules, guidelines, regulations, ordinances,
codes and administrative or judicial precedents or authorities, including the interpretation or administration thereof by any Governmental
Authority charged with the enforcement, interpretation or administration thereof, and all applicable administrative orders, directed
duties, requests, licenses, authorizations and permits of, and agreements with, any Governmental Authority, in each case whether
or not having the force of law.

 

“L/C Advance”
means, with respect to each Lender, such Lender’s funding of its participation in any L/C Borrowing in accordance with its
Applicable Percentage. All L/C Advances shall be denominated in Dollars.

 

“L/C Borrowing”
means an extension of credit resulting from a drawing under any Letter of Credit which has not been reimbursed on the date when
made or refinanced as a Committed Borrowing. All L/C Borrowings shall be denominated in Dollars.

 

“L/C Credit
Extension” means, with respect to any Letter of Credit, the issuance thereof or extension of the expiry date thereof,
or the increase of the amount thereof.

 

“L/C Issuer”
means Bank of America in its capacity as issuer of Letters of Credit hereunder, or any successor issuer of Letters of Credit hereunder.

 

“L/C Obligations”
means, as at any date of determination, the aggregate amount available to be drawn under all outstanding Letters of Credit plus
the aggregate of all Unreimbursed Amounts, including all L/C Borrowings. For purposes of computing the amount available to be drawn
under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06. For
all purposes of this Agreement, if on any date of determination a Letter of Credit has expired by its terms but any amount may
still be drawn thereunder by reason of the operation of Rule 3.14 of the ISP, such Letter of Credit shall be deemed to be “outstanding”
in the amount so remaining available to be drawn.

 

“Lender”
has the meaning specified in the introductory paragraph hereto and, as the context requires, includes the Swing Line Lender.

 

“Lending Office”
means, as to any Lender, the office or offices of such Lender described as such in such Lender’s Administrative Questionnaire,
or such other office or offices as a Lender may from time to time notify the Borrower and the
Administrative Agent.

 

“Letter of
Credit” means any letter of credit issued hereunder providing for the payment of cash upon the honoring of a presentation
thereunder. A Letter of Credit may be a commercial letter of credit or a standby letter of credit. All Letters of Credit shall
be issued in Dollars.

 

    	16

    	 

    

 

 

“Letter of
Credit Application” means an application and agreement for the issuance or amendment of a Letter of Credit in the form
from time to time in use by the L/C Issuer.

 

“Letter of
Credit Expiration Date” means the day that is seven days prior to the Maturity Date then in effect (or, if such day is
not a Business Day, the next preceding Business Day).

 

“Letter of
Credit Fee” has the meaning specified in Section 2.03(h).

 

“Letter of
Credit Sublimit” is, as of the Closing Date, equal to zero Dollars ($0). The Letter of Credit Sublimit is part of, and
not in addition to, the Aggregate Commitments.

 

“Leverage
Ratio” means, as of the last day of any fiscal quarter, the ratio of (a) Consolidated Funded Debt on such day to
(b) Consolidated EBITDA for the period of four consecutive fiscal quarters ending as of such day.

 

“Lien”
means any mortgage, pledge, hypothecation, collateral assignment, encumbrance, lien (statutory or other), charge or other security
interest or preferential arrangement in the nature of a security interest of any kind or nature whatsoever (including any easement,
right of way or other encumbrance on title to real property). For the purposes of this Agreement, a Person shall be deemed to own
subject to a Lien any asset which it has acquired or holds subject to the interest of a vendor or lessor under any conditional
sale agreement, Capital Lease (excluding, however, any synthetic leases) or other title retention agreement relating to such asset.

 

“Loan”
means an extension of credit by a Lender to the Borrower under Article II in the form of a Committed Loan or a Swing Line
Loan.

 

“Loan Documents”
means this Agreement, each Note, each Issuer Document, any agreement creating or perfecting rights in Cash Collateral pursuant
to the provisions of Section 2.15 of this Agreement and the Fee Letter.

 

“Material
Adverse Effect” means any of (a) a material adverse effect on the business, assets, liabilities (actual or contingent),
operations, condition (financial or otherwise) or prospects of the Borrower and its Subsidiaries
taken as a whole; (b) a material adverse effect on the ability of the Borrower to perform its obligations under the Loan Documents;
or (c) a material adverse effect on the rights or remedies of the Lenders or the Administrative Agent hereunder or under any other
Loan Document.

 

“Material
Subsidiary” means at any time any direct or indirect Subsidiary of the Borrower having:
(a) assets in an amount equal to at least 5% of the total assets of the Borrower and its Subsidiaries
determined on a consolidated basis as of the last day of the most recent fiscal quarter of the Borrower
at such time; or (b) revenues or net income in an amount equal to at least 5% of the total revenues or net income of the Borrower
and its Subsidiaries on a consolidated basis for the 12-month period ending on the last day of the most recent fiscal quarter of
the Borrower at such time.

 

“Maturity
Date” means the date that is 364 days following the Closing Date; provided that if such date is not a Business
Day, the Maturity Date shall be the next preceding Business Day.

 

    	17

    	 

    

 

 

“MLPFSI”
means Merrill Lynch, Pierce, Fenner & Smith Incorporated.

 

“Moody’s”
means Moody’s Investors Service, Inc. and any successor thereto.

 

“Multi-Year
Credit Agreement” means that certain credit agreement, dated as of February 18, 2011, among the Borrower, certain subsidiaries
of the Borrower from time to time party thereto, as designated borrowers, the lenders from time to time party thereto and Bank
of America, as the administrative agent.

 

“Multiemployer
Plan” means any employee benefit plan of the type described in Section 4001(a)(3) of ERISA, to which the Borrower
or any ERISA Affiliate makes or is obligated to make contributions, or during the preceding five plan years, has made or been obligated
to make contributions.

 

“Multiple
Employer Plan” means a Plan which has two or more contributing sponsors (including the Borrower
or any ERISA Affiliate) at least two of whom are not under common control, as such a plan is described in Section 4064 of
ERISA.

 

“Non-Extension
Notice Date” has the meaning specified in Section 2.03(b)(iii).

 

“Note”
means a promissory note made by the Borrower in favor of a Lender evidencing Loans made by such Lender to the Borrower, substantially
in the form of Exhibit B.

 

“Obligations”
means all advances to, and debts, liabilities, obligations, covenants and duties of, the Borrower arising under any Loan Document
or otherwise with respect to any Loan or Letter of Credit, whether direct or indirect (including those acquired by assumption),
absolute or contingent, due or to become due, now existing or hereafter arising and including interest and fees that accrue after
the commencement by or against the Borrower or any Affiliate thereof of any proceeding under any Debtor Relief Laws naming such
Person as the debtor in such proceeding, regardless of whether such interest and fees are allowed claims in such proceeding.

 

“Officer’s
Compliance Certificate” has the meaning specified in Section 6.02.

 

“Operating
Profit” means, as applied to any Person for any period, the operating revenue of such Person for such period, less (a) its
costs of services for such period and (b) its selling, general and administrative costs for such period but excluding therefrom
all extraordinary gains or losses, all as determined and computed in accordance with GAAP.

 

“Organization
Documents” means, (a) with respect to any corporation, the certificate or articles of incorporation and the bylaws (or
equivalent or comparable constitutive documents with respect to any non-U.S. jurisdiction); (b) with respect to any limited liability
company, the certificate or articles of formation or organization and operating agreement; and (c) with respect to any partnership,
joint venture, trust or other form of business entity, the partnership, joint venture or other applicable agreement of formation
or organization and any agreement, instrument, filing or notice with respect thereto filed in connection with its formation or
organization with the applicable Governmental Authority in the jurisdiction of its formation or organization and, if applicable,
any certificate or articles of formation or organization of such entity.

 

    	18

    	 

    

 

 

“Other Connection
Taxes” means, with respect to any Recipient, Taxes imposed as a result of a present or former connection between such
Recipient and the jurisdiction imposing such Tax (other than connections arising from such Recipient having executed, delivered,
become a party to, performed its obligations under, received payments under, received or perfected a security interest under, engaged
in any other transaction pursuant to or enforced any Loan Document, or sold or assigned an interest in any Loan or Loan Document).

 

“Other Taxes”
means all present or future stamp, court or documentary, intangible, recording, filing or similar Taxes that arise from any payment
made under, from the execution, delivery, performance, enforcement or registration of, from the receipt or perfection of a security
interest under, or otherwise with respect to, any Loan Document, except any such Taxes that are Other Connection Taxes imposed
with respect to an assignment (other than an assignment made pursuant to Section 3.06).

 

“Outstanding
Amount” means (a) with respect to Committed Loans and Swing Line Loans on any date, the aggregate outstanding principal
amount thereof after giving effect to any borrowings and prepayments or repayments of such Loans occurring on such date; and (b)
with respect to any L/C Obligations on any date, the amount of such L/C Obligations on such date after giving effect to any L/C
Credit Extension occurring on such date and any other changes in the aggregate amount of the L/C Obligations as of such date, including
as a result of any reimbursements by the Borrower of Unreimbursed Amounts.

 

“Overnight
Rate” means, for any day, the greater of (i) the Federal Funds Rate and (ii) an overnight rate determined by the Administrative
Agent, the L/C Issuer, or the Swing Line Lender, as the case may be, in accordance with banking industry rules on interbank compensation.

 

“Participant”
has the meaning specified in Section 11.06(d).

 

“Participant
Register” has the meaning specified in Section 11.06(d).

 

“PBGC”
means the Pension Benefit Guaranty Corporation.

 

“Pension Act”
means the Pension Protection Act of 2006.

 

“Pension Funding
Rules” means the rules of the Code and ERISA regarding minimum required contributions (including any installment payment
thereof) to Pension Plans and set forth in, with respect to plan years ending prior to the effective date of the Pension Act, Section
412 of the Code and Section 302 of ERISA, each as in effect prior to the Pension Act and, thereafter, Section 412, 430, 431, 432
and 436 of the Code and Sections 302, 303, 304 and 305 of ERISA.

 

“Pension Plan”
means any employee pension benefit plan (including a Multiple Employer Plan or a Multiemployer Plan) that is maintained or is contributed
to by the Borrower and any ERISA Affiliate and is either covered by Title IV of ERISA or is subject
to the minimum funding standards under Section 412 of the Code.

 

    	19

    	 

    

“Permitted
Securitization Subsidiary” means any Subsidiary of the Borrower that (a) is directly
or indirectly wholly-owned by the Borrower; (b) is formed and operated solely for purposes
of a Permitted Securitization Transaction; provided that such Permitted Securitization Subsidiary may invest up to $3,500,000
in publicly traded stock of one or more Persons; and (c) has Organization Documents which limit the permitted activities of
such Permitted Securitization Subsidiary to the acquisition of accounts receivable and related rights from the Borrower
or one or more of its Consolidated Subsidiaries or another Permitted Securitization Subsidiary, the securitization or other financing
of such accounts receivable and related rights and activities necessary or incidental to the foregoing.

 

“Permitted
Securitization Transaction” means the transfer by the Borrower or one or more of its
Consolidated Subsidiaries of receivables and rights related thereto to one or more Permitted Securitization Subsidiaries and the
related financing of such receivables and rights related thereto; provided that the aggregate total amount of all Debt outstanding
to third parties under all Permitted Securitization Transactions shall not exceed $250,000,000 in the aggregate outstanding at
any time.

 

“Person”
means any natural person, corporation, limited liability company, trust, joint venture, association, company, partnership, Governmental
Authority or other entity.

 

“Plan”
means any employee benefit plan within the meaning of Section 3(3) of ERISA (including a Pension Plan), maintained for employees
of the Borrower or any ERISA Affiliate or any such Plan to which the Borrower
or any ERISA Affiliate is required to contribute on behalf of any of its employees.

 

“Platform”
has the meaning specified in Section 6.01(c).

 

“Property”
means any interest in any kind of property or asset, whether real, personal or mixed, or tangible or intangible.

 

“Public Lender”
has the meaning specified in Section 6.01.

 

“Recipient”
means the Administrative Agent, any Lender, the L/C Issuer or any other recipient of any payment to be made by or on account of
any obligation of the Borrower hereunder.

 

“Reference
Period” has the meaning specified in the definition of “Consolidated EBITDA”.

 

“Register”
has the meaning specified in Section 11.06(c).

 

“Related Parties”
means, with respect to any Person, such Person’s Affiliates and the partners, directors, officers, employees, agents, trustees
and advisors of such Person and of such Person’s Affiliates.

 

“Reportable
Event” means any of the events set forth in Section 4043(c) of ERISA, other than events for which the 30 day notice
period has been waived.

 

    	20

    	 

    

“Request for
Credit Extension” means (a) with respect to a Borrowing, conversion or continuation of Committed Loans, a Committed Loan
Notice; (b) with respect to an L/C Credit Extension, a Letter of Credit Application; and (c) with respect to a Swing Line Loan,
a Swing Line Loan Notice.

 

“Required
Lenders” means, as of any date of determination, Lenders having more than 50% of the
Aggregate Commitments or, if the commitment of each Lender to make Loans and the obligation of the L/C Issuer to make L/C Credit
Extensions have been terminated pursuant to Section 9.02, Lenders holding in the aggregate more
than 50% of the Total Outstandings (with the aggregate amount of each Lender’s risk participation and funded
participation in L/C Obligations and Swing Line Loans being deemed “held” by such Lender for purposes of this definition);
provided that the Commitment of, and the portion of the Total Outstandings held or deemed held by, any Defaulting Lender
shall be excluded for purposes of making a determination of Required Lenders.

 

“Responsible
Officer” means the chief executive officer, president, chief financial officer, treasurer, assistant treasurer or controller
of the Borrower, and solely for purposes of the delivery of incumbency certificates pursuant to Section 4.01, the secretary
or any assistant secretary of the Borrower. Any document delivered hereunder that is signed by a Responsible Officer of the Borrower
shall be conclusively presumed to have been authorized by all necessary corporate, partnership and/or other action on the part
of the Borrower and such Responsible Officer shall be conclusively presumed to have acted on behalf of the Borrower.

 

“Restricted
Investments” means Investments in joint ventures and other Persons which are not Consolidated Subsidiaries. Restricted
Investments shall not include Investments made in the acquisition of a Person which becomes a Consolidated Subsidiary upon the
closing of such acquisition.

 

“Restricted
Payment” means (a) any dividend or other payment or distribution, direct or indirect, on account of any shares of
any class of Capital Stock of the Borrower or any of its Subsidiaries, now or hereafter outstanding
(including without limitation any payment in connection with any dissolution, merger, consolidation or disposition involving any
of the Borrower or any of its Subsidiaries), or to the holders, in their capacity as such, of
any shares of any class of Capital Stock of the Borrower or any of its Subsidiaries, now or hereafter
outstanding (other than dividends or distributions payable in Capital Stock of the applicable Person and dividends or distributions
payable (directly or indirectly through Subsidiaries) to the Borrower or any Wholly-Owned Subsidiary
of the Borrower); (b) any redemption, retirement, sinking fund or similar payment, purchase
or other acquisition for value, direct or indirect, of any shares of any class of Capital Stock of the Borrower
or any of its Subsidiaries, now or hereafter outstanding (other than such transactions payable (directly or indirectly through
Subsidiaries) to the Borrower or any Wholly-Owned Subsidiary of the Borrower);
and (c) any payment made to retire, or to obtain the surrender of, any outstanding warrants, options or other rights to acquire
shares of any class of Capital Stock of the Borrower or any of its Subsidiaries (other than such
payments payable (directly or indirectly through Subsidiaries) to the Borrower or any Wholly-Owned
Subsidiary of the Borrower).

 

“S&P”
means Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies, Inc. and any successor thereto.

 

    	21

    	 

    

 

 

“Sale and
Leaseback Transaction” means any direct or indirect arrangement with any Person or to which any such Person is a party,
providing for the leasing to the Borrower or Subsidiary thereof of any Property, whether owned by the Borrower or Subsidiary as
of the Closing Date or later acquired, which has been or is to be sold or transferred by the Borrower or Subsidiary to such Person
or to any other Person from whom funds have been, or are to be, advanced by such Person on the security of such Property.

 

“SEC”
means the Securities and Exchange Commission, or any Governmental Authority succeeding to any of its principal functions.

 

“STRH”
means SunTrust Robinson Humphrey, Inc.

 

“Subsidiary”
of a Person means a corporation, partnership, joint venture, limited liability company or other business entity of which a majority
of the shares of securities or other interests having ordinary voting power for the election of directors or other governing body
(other than securities or interests having such power only by reason of the happening of a contingency) are at the time beneficially
owned, or the management of which is otherwise controlled, directly, or indirectly through one or more intermediaries, or both,
by such Person. Unless otherwise specified, all references herein to a “Subsidiary” or to “Subsidiaries”
shall refer to a Subsidiary or Subsidiaries of the Borrower.

 

“Support Obligation”
means, with respect to any Person and its Subsidiaries, without duplication, any obligation, contingent or otherwise, of any such
Person pursuant to which such Person has directly or indirectly guaranteed any Debt of any other Person and, without limiting the
generality of the foregoing, any obligation, direct or indirect, contingent or otherwise, of any such Person (a) to purchase or
pay (or advance or supply funds for the purchase or payment of) such Debt (whether arising by virtue of partnership arrangements,
by agreement to keep well, to purchase assets, goods, securities or services, to take-or-pay, or to maintain financial statement
condition or otherwise) or (b) entered into for the purpose of assuring in any other manner the obligee of such Debt of the payment
thereof or to protect such obligee against loss in respect thereof (in whole or in part); provided that the term Support
Obligation shall not include (i) endorsements for collection or deposit in the ordinary course of business or (ii) a
contractual commitment by one Person to invest in another Person for so long as such investment is an Investment permitted under
this Agreement.

 

“Swing Line
Borrowing” means a borrowing of a Swing Line Loan pursuant to Section 2.04.

 

“Swing Line
Lender” means Bank of America in its capacity as provider of Swing Line Loans, or any successor swing line lender hereunder.

 

“Swing Line
Loan” has the meaning specified in Section 2.04(a).

 

“Swing Line
Loan Notice” means a notice of a Swing Line Borrowing pursuant to Section 2.04(b), which, if in writing, shall
be in the form agreed to among the Borrower, the Administrative Agent and the Swing Line Lender.

 

    	22

    	 

    

 

 

“Swing Line
Sublimit” is, as of the Closing Date, equal to zero Dollars ($0). The Swing Line Sublimit is part of, and not in addition
to, the Aggregate Commitments.

 

“TARGET Day”
means any day on which the Trans-European Automated Real-time Gross Settlement Express Transfer (TARGET) payment system (or, if
such payment system ceases to be operative, such other payment system (if any) determined by the Administrative Agent to be
a suitable replacement) is open for the settlement of payments in Euro.

 

“Taxes”
means all present or future taxes, levies, imposts, duties, deductions, withholdings (including backup withholding), assessments,
fees or other charges imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable thereto.

 

“Total Outstandings”
means the aggregate Outstanding Amount of all Loans and all L/C Obligations.

 

“Type”
means, with respect to a Committed Loan, its character as a Base Rate Loan or a Eurodollar Rate
Loan.

 

“U.S. Person”
means any Person that is a “United States Person” as defined in Section 7701(a)(30) of the Code.

 

“U.S. Tax
Compliance Certificate” has the meaning specified in Section 3.01(e)(ii)(B)(III).

 

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

 

“Unreimbursed
Amount” has the meaning specified in Section 2.03(c)(i).

 

“WFSL”
means Wells Fargo Securities, LLC.

 

“Wholly-Owned”
means, with respect to a Subsidiary, that all of the shares of capital stock or other ownership interests of such Subsidiary (except
directors’ qualifying shares, or, in the case of any Subsidiary which is not organized or created under the laws of the United
States or any political subdivision thereof, such nominal ownership interests which are required to be held by third parties under
the laws of the foreign jurisdiction under which such Subsidiary was incorporated or organized) are, directly or indirectly, owned
or controlled by the Borrower and/or one or more of its Wholly-Owned Subsidiaries.

 

1.02         Other
Interpretive Provisions. With reference to this Agreement and each other Loan Document, unless otherwise specified herein or
in such other Loan Document:

 

    	23

    	 

    

(a)          The
definitions of terms herein shall apply equally to the singular and plural forms of the terms defined. Whenever the context may
require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words “include,” “includes”
and “including” shall be deemed to be followed by the phrase “without limitation”. The word “will”
shall be construed to have the same meaning and effect as the word “shall”. Unless the context requires otherwise,
(i) any definition of or reference to any agreement, instrument or other document (including any Organization Document) shall be
construed as referring to such agreement, instrument or other document as from time to time amended, supplemented or otherwise
modified (subject to any restrictions on such amendments, supplements or modifications set forth herein or in any other Loan Document);
(ii) any reference herein to any Person shall be construed to include such Person’s successors and assigns; (iii) the words
“hereto,” “herein,” “hereof” and “hereunder”, and words of similar import when
used in any Loan Document, shall be construed to refer to such Loan Document in its entirety and not to any particular provision
thereof; (iv) all references in a Loan Document to Articles, Sections, Exhibits and Schedules shall be construed to refer to Articles
and Sections of, and Exhibits and Schedules to, the Loan Document in which such references appear; (v) any reference to any law
shall include all statutory and regulatory provisions consolidating, amending, replacing or interpreting such law and any reference
to any law or regulation shall, unless otherwise specified, refer to such law or regulation as amended, modified or supplemented
from time to time; and (vi) the words “asset” and “property” shall be construed to have the same meaning
and effect and to refer to any and all tangible and intangible assets and properties, including cash, securities, accounts and
contract rights.

 

(b)          In
the computation of periods of time from a specified date to a later specified date, the word “from” means “from
and including”; the words “to” and “until” each mean “to but excluding”; and the word
“through” means “to and including.”

 

(c)          Section
headings herein and in the other Loan Documents are included for convenience of reference only and shall not affect the interpretation
of this Agreement or any other Loan Document.

 

1.03         Accounting
Terms.

 

(a)          Generally.
All accounting terms not specifically or completely defined herein shall be construed in conformity with, and all financial data
(including financial ratios and other financial calculations) required to be submitted pursuant to this Agreement shall be prepared
in conformity with, GAAP applied on a consistent basis, as in effect from time to time, applied in a manner consistent with that
used in preparing the Audited Financial Statements, except as otherwise specifically prescribed herein.

 

(b)          Changes
in GAAP. If at any time any change in GAAP would affect the computation of any financial ratio or requirement set forth in
any Loan Document, and either the Borrower or the Required Lenders shall so request, the Administrative
Agent, the Lenders and the Borrower shall negotiate in good faith to amend such ratio or requirement
to preserve the original intent thereof in light of such change in GAAP (subject to the approval of the Required Lenders); provided
that until so amended, (i) such ratio or requirement shall continue to be computed in accordance with GAAP prior to such change
therein and (ii) the Borrower shall provide to the Administrative Agent and the Lenders
financial statements and other documents required under this Agreement or as reasonably requested hereunder setting forth a reconciliation
between calculations of such ratio or requirement made before and after giving effect to such change in GAAP.

 

    	24

    	 

    

1.04         Rounding.
Any financial ratios required to be maintained by the Borrower pursuant to this Agreement shall
be calculated by dividing the appropriate component by the other component, carrying the result to one place more than the number
of places by which such ratio is expressed herein and rounding the result up or down to the nearest number (with a rounding-up
if there is no nearest number).

 

1.05         Times
of Day. Unless otherwise specified, all references herein to times of day shall be references to Eastern
time (daylight or standard, as applicable).

 

1.06         Letter
of Credit Amounts. Unless otherwise specified herein, the amount of a Letter of Credit at any time shall be deemed to be the
stated amount of such Letter of Credit in effect at such time; provided that with respect to any Letter of Credit that, by its
terms or the terms of any Issuer Document related thereto, provides for one or more automatic increases in the stated amount thereof,
the amount of such Letter of Credit shall be deemed to be the maximum stated amount of such Letter of Credit after giving effect
to all such increases, whether or not such maximum stated amount is in effect at such time.

 

ARTICLE
II.

the
COMMITMENTS and Credit Extensions

 

2.01         Committed
Loans. Subject to the terms and conditions set forth herein, each Lender severally agrees to make loans (each such loan, a
“Committed Loan”) to the Borrower in Dollars from time to time, on any Business Day during the Availability
Period, in an aggregate amount not to exceed at any time outstanding the amount of such Lender’s Commitment; provided
that after giving effect to any Committed Borrowing, (i) the Total Outstandings shall not exceed the Aggregate Commitments and
(ii) the aggregate Outstanding Amount of the Committed Loans of any Lender, plus such Lender’s Applicable Percentage
of the Outstanding Amount of all L/C Obligations, plus such Lender’s Applicable Percentage of the Outstanding Amount
of all Swing Line Loans shall not exceed such Lender’s Commitment. Within the limits of each Lender’s Commitment, and
subject to the other terms and conditions hereof, the Borrower may borrow under this Section 2.01, prepay under Section
2.05, and reborrow under this Section 2.01. Committed Loans may be Base Rate Loans or Eurodollar
Rate Loans, as further provided herein.

 

    	25

    	 

    
 

2.02         Borrowings,
Conversions and Continuations of Committed Loans.

 

(a)          Each
Committed Borrowing, each conversion of Committed Loans from one Type to the other, and each continuation of Eurodollar
Rate Loans shall be made upon the Borrower’s irrevocable notice to the Administrative Agent, which may be given by
telephone. Each such notice must be received by the Administrative Agent not later than 11:00 a.m. (i) three Business Days prior
to the requested date of any Borrowing of, conversion to or continuation of Eurodollar Rate Loans
or of any conversion of Eurodollar Rate Loans to Base Rate Committed Loans, and (ii) on the requested
date of any Borrowing of Base Rate Committed Loans; provided that if the Borrower wishes to request
Eurodollar Rate Loans having an Interest Period other than one, two, three or six months in duration as provided in the definition
of “Interest Period,” the applicable notice must be received by the Administrative Agent not later than 11:00 a.m.
three Business Days prior to the requested date of such Borrowing, conversion or continuation of Eurodollar Rate Loans, whereupon
the Administrative Agent shall give prompt notice to the Lenders of such request and determine whether the requested Interest Period
is acceptable to all of them. Not later than 11:00 a.m. two Business Days before the requested date of such Borrowing, conversion
or continuation of Eurodollar Rate Loans, the Administrative Agent shall notify the Borrower (which notice may be by telephone)
whether or not the requested Interest Period has been consented to by all the Lenders. Each telephonic notice by the Borrower
pursuant to this Section 2.02(a) must be confirmed promptly by delivery to the Administrative Agent of a written Committed
Loan Notice, appropriately completed and signed by a Responsible Officer of the Borrower. Each Borrowing of, conversion to or continuation
of Eurodollar Rate Loans shall be in a principal amount of $1,000,000 or a whole multiple of
$500,000 in excess thereof. Except as provided in Sections 2.03(c) and 2.04(c), each Committed Borrowing of or conversion
to Base Rate Committed Loans shall be in a principal amount of $500,000 or a whole multiple of $100,000 in excess thereof. Each
Committed Loan Notice (whether telephonic or written) shall specify (i) whether the Borrower is requesting a Committed Borrowing,
a conversion of Committed Loans from one Type to the other, or a continuation of Eurodollar Rate Loans,
(ii) the requested date of the Borrowing, conversion or continuation, as the case may be (which shall be a Business Day), (iii)
the principal amount of Committed Loans to be borrowed, converted or continued, (iv) the Type of Committed Loans to be borrowed
or to which existing Committed Loans are to be converted, and (v) if applicable, the duration of the Interest Period with respect
thereto. If the Borrower fails to specify a Type of Committed Loan in a Committed Loan Notice or if the Borrower fails to give
a timely notice requesting a conversion or continuation, then the applicable Committed Loans shall be made as, or converted to,
Base Rate Loans. Any such automatic conversion to Base Rate Loans shall be effective as of the last day of the Interest Period
then in effect with respect to the applicable Eurodollar Rate Loans. If the Borrower requests
a Borrowing of, conversion to, or continuation of Eurodollar Rate Loans in any such Committed
Loan Notice, but fails to specify an Interest Period, it will be deemed to have specified an Interest Period of one month.

 

(b)          (b)          Following
receipt of a Committed Loan Notice, the Administrative Agent shall promptly notify each Lender of the amount of its Applicable
Percentage of the applicable Committed Loans, and if no timely notice of a conversion or continuation is provided by the Borrower,
the Administrative Agent shall notify each Lender of the details of any automatic conversion to Base Rate Loans described in the
preceding subsection. In the case of a Committed Borrowing, each Lender shall make the amount of its Committed Loan available to
the Administrative Agent in immediately available funds at the Administrative Agent’s Office
not later than 1:00 p.m. on the Business Day specified in the applicable Committed Loan Notice.
Upon satisfaction of the applicable conditions set forth in Section 4.02 (and, if such Borrowing is the initial Credit Extension,
Section 4.01), the Administrative Agent shall make all funds so received available to the Borrower in like funds as received
by the Administrative Agent either by (i) crediting the account of the Borrower on the books of Bank of America with the amount
of such funds or (ii) wire transfer of such funds, in each case in accordance with instructions provided to (and reasonably acceptable
to) the Administrative Agent by the Borrower; provided that if, on the date the Committed Loan Notice with respect to such
Borrowing is given by the Borrower, there are L/C Borrowings outstanding, then the proceeds of
such Borrowing, first, shall be applied to the payment in full of any such L/C Borrowings, and second, shall be made
available to the Borrower as provided above.

 

    	26

    	 

    

 

(c)          Except
as otherwise provided herein, a Eurodollar Rate Loan may be continued or converted only on the
last day of an Interest Period for such Eurodollar Rate Loan. During the existence of a Default,
no Loans may be requested as, converted to or continued as Eurodollar Rate Loans without the
consent of the Required Lenders.

 

(d)          The
Administrative Agent shall promptly notify the Borrower and the Lenders of the interest rate
applicable to any Interest Period for Eurodollar Rate Loans upon determination of such interest
rate. At any time that Base Rate Loans are outstanding, the Administrative Agent shall notify the Borrower
and the Lenders of any change in Bank of America’s prime rate used in determining the Base Rate promptly following the public
announcement of such change.

 

(e)          After
giving effect to all Committed Borrowings, all conversions of Committed Loans from one Type to the other, and all continuations
of Committed Loans as the same Type, there shall not be more than ten Interest Periods in effect
with respect to Committed Loans.

 

2.03         Letters
of Credit.

 

(a)          The
Letter of Credit Commitment.

 

(i)          Subject
to the terms and conditions set forth herein (including, in particular, and without limiting the generality of, Section 11.19),
(A) the L/C Issuer agrees, in reliance upon the agreements of the Lenders set forth in this Section 2.03, (1) from time
to time on any Business Day during the period from the Closing Date until the Letter of Credit Expiration Date, to issue Letters
of Credit denominated in Dollars for the account of the Borrower or
its Subsidiaries, and to amend or extend Letters of Credit previously issued by it, in
accordance with clause (b) below, and (2) to honor drawings under the Letters of Credit; and (B) the Lenders severally agree
to participate in Letters of Credit issued for the account of the Borrower or
its Subsidiaries and any drawings thereunder; provided that after giving effect to any L/C Credit Extension with
respect to any Letter of Credit, (x) the Total Outstandings shall not exceed the Aggregate Commitments, (y) the aggregate Outstanding
Amount of the Committed Loans of any Lender, plus such Lender’s Applicable Percentage of the Outstanding Amount of
all L/C Obligations, plus such Lender’s Applicable Percentage of the Outstanding Amount of all Swing Line Loans shall
not exceed such Lender’s Commitment, and (z) the Outstanding Amount of the L/C Obligations shall not exceed the Letter of
Credit Sublimit. Each request by the Borrower for the issuance or amendment of a Letter of Credit
shall be deemed to be a representation by the Borrower that the L/C Credit Extension so requested
complies with the conditions set forth in the proviso to the preceding sentence. Within the foregoing limits, and subject to the
terms and conditions hereof, the Borrower’s ability to obtain Letters of Credit shall be
fully revolving, and accordingly the Borrower may, during the foregoing period, obtain Letters
of Credit to replace Letters of Credit that have expired or that have been drawn upon and reimbursed.

 

(ii)         The
L/C Issuer shall not issue any Letter of Credit, if:

 

(A)         subject
to Section 2.03(b)(iii), the expiry date of the requested Letter of Credit would occur more than twelve months after
the date of issuance or last extension, unless the Required Lenders have approved such expiry
date; or

 

    	27

    	 

    

 

(B)         the
expiry date of the requested Letter of Credit would occur after the Letter of Credit Expiration Date, unless all the Lenders have
approved such expiry date.

 

(iii)        The
L/C Issuer shall not be under any obligation to issue any Letter of Credit if:

 

(A)         any
order, judgment or decree of any Governmental Authority or arbitrator shall by its terms purport to enjoin or restrain the L/C
Issuer from issuing the Letter of Credit, or any Law applicable to the L/C Issuer or any request or directive (whether or not having
the force of law) from any Governmental Authority with jurisdiction over the L/C Issuer shall prohibit, or request that the L/C
Issuer refrain from, the issuance of letters of credit generally or the Letter of Credit in particular or shall impose upon the
L/C Issuer with respect to the Letter of Credit any restriction, reserve or capital requirement (for which the L/C Issuer is not
otherwise compensated hereunder) not in effect on the Closing Date, or shall impose upon the L/C Issuer any unreimbursed loss,
cost or expense which was not applicable on the Closing Date and which the L/C Issuer in good faith deems material to it;

 

(B)         the
issuance of the Letter of Credit would violate one or more policies of the L/C Issuer applicable to letters of credit generally;

 

(C)         except
as otherwise agreed by the Administrative Agent and the L/C Issuer, the Letter of Credit is in an initial stated amount less than
$25,000, in the case of a commercial Letter of Credit, or $25,000, in the case of a standby Letter
of Credit;

 

(D)         the
Letter of Credit is to be denominated in a currency other than Dollars;

 

(E)         any
Lender is at that time a Defaulting Lender, unless the L/C Issuer has entered into arrangements, including the delivery of Cash
Collateral, satisfactory to the L/C Issuer (in its sole discretion) with the Borrower or such Lender to eliminate the L/C Issuer’s
actual or potential Fronting Exposure (after giving effect to Section 2.15(a)(iv)) with respect to the Defaulting Lender
arising from either the Letter of Credit then proposed to be issued or that Letter of Credit and all other L/C Obligations as to
which the L/C Issuer has actual or potential Fronting Exposure, as it may elect in its sole discretion;
or

 

(F)         the
Letter of Credit contains any provisions for automatic reinstatement of the stated amount after any drawing thereunder.

 

(iv)        The
L/C Issuer shall not amend any Letter of Credit if the L/C Issuer would not be permitted at such time to issue the Letter of Credit
in its amended form under the terms hereof.

 

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(v)         The
L/C Issuer shall be under no obligation to amend any Letter of Credit if (A) the L/C Issuer would have no obligation at such time
to issue the Letter of Credit in its amended form under the terms hereof, or (B) the beneficiary of the Letter of Credit does not
accept the proposed amendment to the Letter of Credit.

 

(vi)        The
L/C Issuer shall act on behalf of the Lenders with respect to any Letters of Credit issued by it and the documents associated therewith,
and the L/C Issuer shall have all of the benefits and immunities (A) provided to the Administrative Agent in Article IX
with respect to any acts taken or omissions suffered by the L/C Issuer in connection with Letters of Credit issued by it or proposed
to be issued by it and Issuer Documents pertaining to such Letters of Credit as fully as if the term “Administrative Agent”
as used in Article IX included the L/C Issuer with respect to such acts or omissions, and (B) as additionally provided herein
with respect to the L/C Issuer.

 

(b)          Procedures
for Issuance and Amendment of Letters of Credit; Auto-Extension Letters of Credit.

 

(i)          Each
Letter of Credit shall be issued or amended, as the case may be, upon the request of the Borrower
delivered to the L/C Issuer (with a copy to the Administrative Agent) in the form of a Letter of Credit Application, appropriately
completed and signed by a Responsible Officer of the Borrower. Such Letter of Credit Application
must be received by the L/C Issuer and the Administrative Agent not later than 11:00 a.m. at least two Business Days (or such later
date and time as the Administrative Agent and the L/C Issuer may agree in a particular instance in their sole discretion) prior
to the proposed issuance date or date of amendment, as the case may be. In the case of a request for an initial issuance of a Letter
of Credit, such Letter of Credit Application shall specify in form and detail satisfactory to the L/C Issuer: (A) the proposed
issuance date of the requested Letter of Credit (which shall be a Business Day); (B) the amount thereof; (C) the expiry date thereof;
(D) the name and address of the beneficiary thereof; (E) the documents to be presented by such beneficiary in case of any drawing
thereunder; (F) the full text of any certificate to be presented by such beneficiary in case of any drawing thereunder; (G) the
purpose and nature of the requested Letter of Credit; and (H) such other matters as the L/C Issuer may require. In the case of
a request for an amendment of any outstanding Letter of Credit, such Letter of Credit Application shall specify in form and detail
satisfactory to the L/C Issuer (A) the Letter of Credit to be amended; (B) the proposed date of amendment thereof (which shall
be a Business Day); (C) the nature of the proposed amendment; and (D) such other matters as the L/C Issuer may require. Additionally,
the Borrower shall furnish to the L/C Issuer and the Administrative Agent such other documents
and information pertaining to such requested Letter of Credit issuance or amendment, including any Issuer Documents, as the L/C
Issuer or the Administrative Agent may require.

 

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(ii)         Promptly
after receipt of any Letter of Credit Application, the L/C Issuer will confirm with the Administrative Agent (by telephone or in
writing) that the Administrative Agent has received a copy of such Letter of Credit Application from the Borrower
and, if not, the L/C Issuer will provide the Administrative Agent with a copy thereof. Unless the L/C Issuer has received written
notice from any Lender, the Administrative Agent or the Borrower, at least one Business Day prior to the requested date of issuance
or amendment of the applicable Letter of Credit, that one or more applicable conditions contained in Article IV shall not
then be satisfied, then, subject to the terms and conditions hereof, the L/C Issuer shall, on the requested date, issue a Letter
of Credit for the account of the Borrower (or the applicable Subsidiary) or enter into the applicable
amendment, as the case may be, in each case in accordance with the L/C Issuer’s usual and customary business practices. Immediately
upon the issuance of each Letter of Credit, each Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to,
purchase from the L/C Issuer a risk participation in such Letter of Credit in an amount equal to the product of such Lender’s
Applicable Percentage times the amount of such Letter of Credit.

 

(iii)        If
the Borrower so requests in any applicable Letter of Credit Application, the L/C Issuer may,
in its sole discretion, agree to issue a Letter of Credit that has automatic extension provisions (each, an “Auto-Extension
Letter of Credit”); provided that any such Auto-Extension Letter of Credit must permit the L/C Issuer to prevent
any such extension at least once in each twelve-month period (commencing with the date of issuance of such Letter of Credit) by
giving prior notice to the beneficiary thereof not later than a day (the “Non-Extension Notice Date”) in each
such twelve-month period to be agreed upon at the time such Letter of Credit is issued. Unless otherwise directed by the L/C Issuer,
the Borrower shall not be required to make a specific request to the L/C Issuer for any such
extension. Once an Auto-Extension Letter of Credit has been issued, the Lenders shall be deemed to have authorized (but may not
require) the L/C Issuer to permit the extension of such Letter of Credit at any time to an expiry date not later than the Letter
of Credit Expiration Date; provided that the L/C Issuer shall not permit any such extension if (A) the L/C Issuer has determined
that it would not be permitted, or would have no obligation, at such time to issue such Letter of Credit in its revised form (as
extended) under the terms hereof (by reason of the provisions of clause (ii) or (iii) of Section 2.03(a) or
otherwise), or (B) it has received notice (which may be by telephone or in writing) on or before the day that is seven Business
Days before the Non-Extension Notice Date (1) from the Administrative Agent that the Required Lenders have elected not to permit
such extension or (2) from the Administrative Agent, any Lender or the Borrower that one or more
of the applicable conditions specified in Section 4.02 is not then satisfied, and in each such case directing the L/C Issuer
not to permit such extension.

 

(iv)        Promptly
after its delivery of any Letter of Credit or any amendment to a Letter of Credit to an advising bank with respect thereto or to
the beneficiary thereof, the L/C Issuer will also deliver to the Borrower and the Administrative
Agent a true and complete copy of such Letter of Credit or amendment.

 

(c)          Drawings
and Reimbursements; Funding of Participations.

 

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(i)          Upon
receipt from the beneficiary of any Letter of Credit of any notice of a drawing under such Letter of Credit, the L/C Issuer shall
notify the Borrower and the Administrative Agent thereof. Not later than 11:00 a.m. on the date
of any payment by the L/C Issuer under a Letter of Credit to be reimbursed in Dollars (each such date, an “Honor Date”),
the Borrower shall reimburse the L/C Issuer through the Administrative Agent in an amount equal
to the amount of such drawing. If the Borrower fails to so reimburse the L/C Issuer by such time,
the Administrative Agent shall promptly notify each Lender of the Honor Date, the amount of the unreimbursed drawing (the “Unreimbursed
Amount”), and the amount of such Lender’s Applicable Percentage thereof. In such event, the Borrower
shall be deemed to have requested a Committed Borrowing of Base Rate Loans to be disbursed on the Honor Date in an amount equal
to the Unreimbursed Amount, without regard to the minimum and multiples specified in Section 2.02 for the principal amount
of Base Rate Loans, but subject to the amount of the unutilized portion of the Aggregate Commitments and the conditions set forth
in Section 4.02 (other than the delivery of a Committed Loan Notice). Any notice given by the L/C Issuer or the Administrative
Agent pursuant to this Section 2.03(c)(i) may be given by telephone if immediately confirmed in writing; provided
that the lack of such an immediate confirmation shall not affect the conclusiveness or binding effect of such notice.

 

(ii)         Each
Lender shall upon any notice pursuant to Section 2.03(c)(i) make funds available (and the Administrative Agent may apply
Cash Collateral provided for this purpose) for the account of the L/C Issuer, in Dollars, at the Administrative Agent’s Office
for Dollar-denominated payments in an amount equal to its Applicable Percentage of the Unreimbursed Amount not later than 1:00
p.m. on the Business Day specified in such notice by the Administrative Agent, whereupon, subject to the provisions of Section
2.03(c)(iii), each Lender that so makes funds available shall be deemed to have made a Base Rate Committed Loan to the Borrower
in such amount. The Administrative Agent shall remit the funds so received to the L/C Issuer in Dollars.

 

(iii)        With
respect to any Unreimbursed Amount that is not fully refinanced by a Committed Borrowing of Base Rate Loans because the conditions
set forth in Section 4.02 cannot be satisfied or for any other reason, the Borrower shall
be deemed to have incurred from the L/C Issuer an L/C Borrowing in the amount of the Unreimbursed Amount that is not so refinanced,
which L/C Borrowing shall be due and payable on demand (together with interest) and shall bear interest at the Default Rate. In
such event, each Lender’s payment to the Administrative Agent for the account of the L/C Issuer pursuant to Section 2.03(c)(ii)
shall be deemed payment in respect of its participation in such L/C Borrowing and shall constitute an L/C Advance from such Lender
in satisfaction of its participation obligation under this Section 2.03.

 

(iv)        Until
a Lender funds its Committed Loan or L/C Advance pursuant to this Section 2.03(c) to reimburse the L/C Issuer for any amount
drawn under any Letter of Credit, interest in respect of such Lender’s Applicable Percentage of such amount shall be solely
for the account of the L/C Issuer.

 

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(v)         Each
Lender’s obligation to make Committed Loans or L/C Advances to reimburse the L/C Issuer for amounts drawn under Letters of
Credit, as contemplated by this Section 2.03(c), shall be absolute and unconditional and shall not be affected by any circumstance,
including (A) any setoff, counterclaim, recoupment, defense or other right which such Lender may have against the L/C Issuer, the
Borrower or any other Person for any reason whatsoever; (B) the occurrence or continuance of
a Default, or (C) any other occurrence, event or condition, whether or not similar to any of the foregoing; provided that
each Lender’s obligation to make Committed Loans pursuant to this Section 2.03(c) is subject to the conditions set
forth in Section 4.02 (other than delivery by the Borrower of a Committed Loan Notice).
No such making of an L/C Advance shall relieve or otherwise impair the obligation of the Borrower
to reimburse the L/C Issuer for the amount of any payment made by the L/C Issuer under any Letter of Credit, together with interest
as provided herein.

 

(vi)        If
any Lender fails to make available to the Administrative Agent for the account of the L/C Issuer any amount required to be paid
by such Lender pursuant to the foregoing provisions of this Section 2.03(c) by the time specified in Section 2.03(c)(ii),
then, without limiting the other provisions of this Agreement, the L/C Issuer shall be entitled to recover from such Lender (acting
through the Administrative Agent), on demand, such amount with interest thereon for the period from the date such payment is required
to the date on which such payment is immediately available to the L/C Issuer at a rate per annum equal to the applicable Overnight
Rate from time to time in effect, plus any administrative, processing or similar fees customarily charged by the L/C Issuer in
connection with the foregoing. If such Lender pays such amount (with interest and fees as aforesaid), the amount so paid shall
constitute such Lender’s Committed Loan included in the relevant Committed Borrowing or L/C Advance in respect of the relevant
L/C Borrowing, as the case may be. A certificate of the L/C Issuer submitted to any Lender (through the Administrative Agent) with
respect to any amounts owing under this clause (vi) shall be conclusive absent manifest error.

 

(d)          Repayment
of Participations.

 

(i)          At
any time after the L/C Issuer has made a payment under any Letter of Credit and has received from any Lender such Lender’s
L/C Advance in respect of such payment in accordance with Section 2.03(c), if the Administrative Agent receives for the
account of the L/C Issuer any payment in respect of the related Unreimbursed Amount or interest thereon (whether directly from
the Borrower or otherwise, including proceeds of Cash Collateral applied thereto by the Administrative
Agent), the Administrative Agent will distribute to such Lender its Applicable Percentage thereof in the same funds as those received
by the Administrative Agent.

 

(ii)         If
any payment received by the Administrative Agent for the account of the L/C Issuer pursuant to Section 2.03(c)(i) is required
to be returned under any of the circumstances described in Section 11.05 (including pursuant to any settlement entered into
by the L/C Issuer in its discretion), each Lender shall pay to the Administrative Agent for the account of the L/C Issuer its Applicable
Percentage thereof on demand of the Administrative Agent, plus interest thereon from the date of such demand to the date such amount
is returned by such Lender, at a rate per annum equal to the applicable Overnight Rate from time to time in effect. The obligations
of the Lenders under this clause shall survive the payment in full of the Obligations and the termination of this Agreement.

 

    	32

    	 

    

 

(e)          Obligations
Absolute. The obligation of the Borrower to reimburse the L/C Issuer for each drawing under
each Letter of Credit and to repay each L/C Borrowing shall be absolute, unconditional and irrevocable, and shall be paid strictly
in accordance with the terms of this Agreement under all circumstances, including the following:

 

(i)          any
lack of validity or enforceability of such Letter of Credit, this Agreement, or any other Loan Document;

 

(ii)         the
existence of any claim, counterclaim, setoff, defense or other right that the Borrower or any
Subsidiary may have at any time against any beneficiary or any transferee of such Letter of Credit (or any Person for whom any
such beneficiary or any such transferee may be acting), the L/C Issuer or any other Person, whether in connection with this Agreement,
the transactions contemplated hereby or by such Letter of Credit or any agreement or instrument relating thereto, or any unrelated
transaction;

 

(iii)        any
draft, demand, certificate or other document presented under such Letter of Credit proving to be forged, fraudulent, invalid or
insufficient in any respect or any statement therein being untrue or inaccurate in any respect; or any loss or delay in the transmission
or otherwise of any document required in order to make a drawing under such Letter of Credit;

 

(iv)        any
payment by the L/C Issuer under such Letter of Credit against presentation of a draft or certificate that does not strictly comply
with the terms of such Letter of Credit; or any payment made by the L/C Issuer under such Letter of Credit to any Person purporting
to be a trustee in bankruptcy, debtor-in-possession, assignee for the benefit of creditors, liquidator, receiver or other representative
of or successor to any beneficiary or any transferee of such Letter of Credit, including any arising in connection with any proceeding
under any Debtor Relief Law; or

 

(v)         any
other circumstance or happening whatsoever, whether or not similar to any of the foregoing, including any other circumstance that
might otherwise constitute a defense available to, or a discharge of, the Borrower or any Subsidiary.

 

The Borrower
shall promptly examine a copy of each Letter of Credit and each amendment thereto that is delivered to it and, in the event of
any claim of noncompliance with the Borrower’s instructions or other irregularity, the
Borrower will immediately notify the L/C Issuer. The Borrower
shall be conclusively deemed to have waived any such claim against the L/C Issuer and its correspondents unless such notice is
given as aforesaid.

 

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(f)          Role
of L/C Issuer. Each Lender and the Borrower agree that, in paying any drawing under a Letter
of Credit, the L/C Issuer shall not have any responsibility to obtain any document (other than any sight draft, certificates and
documents expressly required by the Letter of Credit) or to ascertain or inquire as to the validity or accuracy of any such document
or the authority of the Person executing or delivering any such document. None of the L/C Issuer, the Administrative Agent, any
of their respective Related Parties nor any correspondent, participant or assignee of the L/C Issuer shall be liable to any Lender
for (i) any action taken or omitted in connection herewith at the request or with the approval of the Lenders or the Required Lenders,
as applicable; (ii) any action taken or omitted in the absence of gross negligence or willful misconduct; or (iii) the due execution,
effectiveness, validity or enforceability of any document or instrument related to any Letter of Credit or Issuer Document. The
Borrower hereby assumes all risks of the acts or omissions of any beneficiary or transferee with
respect to its use of any Letter of Credit; provided that this assumption is not intended to, and shall not, preclude the
Borrower’s pursuing such rights and remedies as it may have against the beneficiary or
transferee at law or under any other agreement. None of the L/C Issuer, the Administrative Agent, any of their respective Related
Parties nor any correspondent, participant or assignee of the L/C Issuer shall be liable or responsible for any of the matters
described in clauses (i) through (v) of Section 2.03(e); and provided, further, that anything
in such clauses to the contrary notwithstanding, the Borrower may have a claim against the L/C
Issuer, and the L/C Issuer may be liable to the Borrower, to the extent, but only to the extent,
of any direct, as opposed to consequential or exemplary, damages suffered by the Borrower which
the Borrower proves were caused by the L/C Issuer’s willful misconduct or gross negligence
or the L/C Issuer’s willful failure to pay under any Letter of Credit after the presentation to it by the beneficiary of
a sight draft and certificate(s) strictly complying with the terms and conditions of a Letter of Credit.  In furtherance
and not in limitation of the foregoing, the L/C Issuer may accept documents that appear on their face to be in order, without responsibility
for further investigation, regardless of any notice or information to the contrary, and the L/C Issuer shall not be responsible
for the validity or sufficiency of any instrument transferring or assigning or purporting to transfer or assign a Letter of Credit
or the rights or benefits thereunder or proceeds thereof, in whole or in part, which may prove to be invalid or ineffective for
any reason.

 

(g)          Applicability
of ISP and UCP. Unless otherwise expressly agreed by the L/C Issuer and the Borrower when
a Letter of Credit is issued, (i) the rules of the ISP shall apply to each standby Letter of
Credit, and (ii) the rules of the Uniform Customs and Practice for Documentary Credits, as most recently
published by the International Chamber of Commerce at the time of issuance shall apply to each commercial Letter of Credit.

 

(h)          Letter
of Credit Fees. The Borrower shall pay to the Administrative Agent for the account of each
Lender in accordance with its Applicable Percentage, in Dollars, a Letter of Credit fee (the “Letter of Credit Fee”)
for each Letter of Credit equal to the Applicable Rate times the daily amount available to be drawn under such
Letter of Credit; provided that any Letter of Credit Fees otherwise payable for the account of a Defaulting Lender with
respect to any Letter of Credit as to which such Defaulting Lender has not provided Cash Collateral satisfactory to the L/C Issuer
pursuant to this Section 2.03 shall be payable, to the maximum extent permitted by applicable Law, to the other Lenders
in accordance with the upward adjustments in their respective Applicable Percentages allocable to such Letter of Credit pursuant
to Section 2.15(a)(iv), with the balance of such fee, if any, payable to the L/C Issuer for its own account. For purposes
of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined
in accordance with Section 1.06. Letter of Credit Fees shall be (i) due and payable on the first Business Day after the
end of each March, June, September and December, commencing with the first such date to occur
after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand and (ii) computed
on a quarterly basis in arrears. If there is any change in the Applicable Rate during any quarter, the daily amount available to
be drawn under each standby Letter of Credit shall be computed and multiplied by the Applicable
Rate separately for each period during such quarter that such Applicable Rate was in effect. Notwithstanding anything to the contrary
contained herein, upon the request of the Required Lenders, while any Event of Default exists, all Letter of Credit Fees shall
accrue at the Default Rate.

 

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(i)          Fronting
Fee and Documentary and Processing Charges Payable to L/C Issuer. With respect to Letters of Credit, the Borrower
shall pay directly to Bank of America, in its capacity as L/C Issuer, for its own account, in Dollars, a fronting fee (i) with
respect to each commercial Letter of Credit, at the rate specified in the Fee Letter, computed on the amount of such Letter of
Credit, and payable upon the issuance thereof, (ii) with respect to any amendment of a commercial Letter of Credit increasing the
amount of such Letter of Credit, at a rate separately agreed between the Borrower and the L/C
Issuer, computed on the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to
each standby Letter of Credit, at the rate per annum specified in the Fee Letter, computed on the daily amount available to be
drawn under such Letter of Credit on a quarterly basis in arrears Such fronting fee shall be due and payable on the tenth Business
Day after the end of each March, June, September and December in respect of the most recently-ended quarterly period (or portion
thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit,
on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn
under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06. In
addition, the Borrower shall pay directly to the L/C Issuer for its own account, in Dollars,
the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of the L/C Issuer
relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable
on demand and are nonrefundable.

 

(j)          Conflict
with Issuer Documents. In the event of any conflict between the terms hereof and the terms of any Issuer Document, the terms
hereof shall control.

 

(k)          Letters
of Credit Issued for Subsidiaries. Notwithstanding that a Letter of Credit issued or outstanding hereunder is in support of
any obligations of, or is for the account of, a Subsidiary, the Borrower shall be obligated to
reimburse the L/C Issuer hereunder for any and all drawings under such Letter of Credit. The Borrower
hereby acknowledges that the issuance of Letters of Credit for the account of Subsidiaries inures to the benefit of the Borrower,
and that the Borrower’s business derives substantial benefits from the businesses of such
Subsidiaries.

 

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2.04         Swing
Line Loans.

 

(a)          The
Swing Line. Subject to the terms and conditions set forth herein (including, in particular, and without limiting the generality
of, Section 11.19), the Swing Line Lender, in reliance upon the agreements of the other Lenders set forth in this Section
2.04, may in its sole discretion make loans in Dollars (each such loan, a “Swing Line Loan”) to the Borrower
from time to time on any Business Day during the Availability Period in an aggregate amount not to exceed at any time outstanding
the amount of the Swing Line Sublimit, notwithstanding the fact that such Swing Line Loans, when aggregated with the Applicable
Percentage of the Outstanding Amount of Committed Loans and L/C Obligations of the Lender acting as Swing Line Lender, may exceed
the amount of such Lender’s Commitment; provided that after giving effect to any Swing Line Loan, (i) the Total Outstandings
shall not exceed the Aggregate Commitments, and (ii) the aggregate Outstanding Amount of the Committed Loans of any Lender, plus
such Lender’s Applicable Percentage of the Outstanding Amount of all L/C Obligations, plus such Lender’s Applicable
Percentage of the Outstanding Amount of all Swing Line Loans shall not exceed such Lender’s Commitment, and provided,
further, that the Borrower shall not use the proceeds of any Swing Line Loan to refinance
any outstanding Swing Line Loan. Within the foregoing limits, and subject to the other terms and conditions hereof, the Borrower
may borrow under this Section 2.04, prepay under Section 2.05, and reborrow under this Section 2.04. Each
Swing Line Loan shall be a Base Rate Loan. Immediately upon the making of a Swing Line Loan, each Lender shall be deemed to, and
hereby irrevocably and unconditionally agrees to, purchase from the Swing Line Lender a risk participation in such Swing Line Loan
in an amount equal to the product of such Lender’s Applicable Percentage times the amount of such Swing Line Loan.

 

(b)          Borrowing
Procedures. Each Swing Line Borrowing shall be made upon the Borrower’s irrevocable
notice to the Swing Line Lender and the Administrative Agent, which may be given by telephone. Each such notice must be received
by the Swing Line Lender and the Administrative Agent not later than 1:00 p.m. on the requested borrowing date, and shall specify
(i) the amount to be borrowed, which shall be a minimum of $500,000 or a whole multiple of $100,000
in excess thereof, and (ii) the requested borrowing date, which shall be a Business Day. Each such telephonic notice must be confirmed
promptly by delivery to the Swing Line Lender and the Administrative Agent of a written Swing Line Loan Notice, appropriately completed
and signed by a Responsible Officer of the Borrower. Promptly after receipt by the Swing Line
Lender of any telephonic Swing Line Loan Notice, the Swing Line Lender will confirm with the Administrative Agent (by telephone
or in writing) that the Administrative Agent has also received such Swing Line Loan Notice and, if not, the Swing Line Lender will
notify the Administrative Agent (by telephone or in writing) of the contents thereof. Unless the Swing Line Lender has received
notice (by telephone or in writing) from the Administrative Agent (including at the request of any Lender) prior to 2:00 p.m. on
the date of the proposed Swing Line Borrowing (A) directing the Swing Line Lender not to make such Swing Line Loan as a result
of the limitations set forth in the first proviso to the first sentence of Section 2.04(a), or (B) that one or more of the
applicable conditions specified in Article IV is not then satisfied, then, subject to the terms and conditions hereof, the
Swing Line Lender will, not later than 3:00 p.m. on the borrowing date specified in such Swing Line Loan Notice, make the amount
of its Swing Line Loan available to the Borrower at its office by
crediting the account of the Borrower on the books of the Swing Line Lender in immediately available funds.

 

(c)          Refinancing
of Swing Line Loans.

 

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(i)          The
Swing Line Lender at any time in its sole discretion may request, on behalf of the Borrower (which
hereby irrevocably authorizes the Swing Line Lender to so request on its behalf), that each Lender make a Base Rate Committed Loan
in an amount equal to such Lender’s Applicable Percentage of the amount of Swing Line Loans then outstanding. Such request
shall be made in writing (which written request shall be deemed to be a Committed Loan Notice for purposes hereof) and in accordance
with the requirements of Section 2.02, without regard to the minimum and multiples specified therein for the principal amount
of Base Rate Loans, but subject to the unutilized portion of the Aggregate Commitments and the conditions set forth in Section
4.02. The Swing Line Lender shall furnish the Borrower with a copy of the applicable Committed
Loan Notice promptly after delivering such notice to the Administrative Agent. Each Lender shall make an amount equal to its Applicable
Percentage of the amount specified in such Committed Loan Notice available to the Administrative Agent in immediately available
funds (and the Administrative Agent may apply Cash Collateral available with respect to the applicable Swing Line Loan) for the
account of the Swing Line Lender at the Administrative Agent’s Office for Dollar-denominated payments not later than 1:00
p.m. on the day specified in such Committed Loan Notice, whereupon, subject to Section 2.04(c)(ii), each Lender that so
makes funds available shall be deemed to have made a Base Rate Committed Loan to the Borrower
in such amount. The Administrative Agent shall remit the funds so received to the Swing Line Lender.

 

(ii)         If
for any reason any Swing Line Loan cannot be refinanced by such a Committed Borrowing in accordance with Section 2.04(c)(i),
the request for Base Rate Committed Loans submitted by the Swing Line Lender as set forth herein shall be deemed to be a request
by the Swing Line Lender that each of the Lenders fund its risk participation in the relevant Swing Line Loan and each Lender’s
payment to the Administrative Agent for the account of the Swing Line Lender pursuant to Section 2.04(c)(i) shall be deemed
payment in respect of such participation.

 

(iii)        If
any Lender fails to make available to the Administrative Agent for the account of the Swing Line Lender any amount required to
be paid by such Lender pursuant to the foregoing provisions of this Section 2.04(c) by the time specified in Section
2.04(c)(i), the Swing Line Lender shall be entitled to recover from such Lender (acting through the Administrative Agent),
on demand, such amount with interest thereon for the period from the date such payment is required to the date on which such payment
is immediately available to the Swing Line Lender at a rate per annum equal to the applicable Overnight Rate from time to time
in effect, plus any administrative, processing or similar fees customarily charged by the Swing Line Lender in connection with
the foregoing. If such Lender pays such amount (with interest and fees as aforesaid), the amount so paid shall constitute such
Lender’s Committed Loan included in the relevant Committed Borrowing or funded participation in the relevant Swing Line Loan,
as the case may be. A certificate of the Swing Line Lender submitted to any Lender (through the Administrative Agent) with respect
to any amounts owing under this clause (iii) shall be conclusive absent manifest error.

 

(iv)        Each
Lender’s obligation to make Committed Loans or to purchase and fund risk participations in Swing Line Loans pursuant to this
Section 2.04(c) shall be absolute and unconditional and shall not be affected by any circumstance, including (A) any setoff,
counterclaim, recoupment, defense or other right which such Lender may have against the Swing Line Lender, the Borrower
or any other Person for any reason whatsoever, (B) the occurrence or continuance of a Default, or (C) any other occurrence, event
or condition, whether or not similar to any of the foregoing; provided that each Lender’s obligation to make Committed
Loans pursuant to this Section 2.04(c) is subject to the conditions set forth in Section 4.02. No such funding of
risk participations shall relieve or otherwise impair the obligation of the Borrower to repay
Swing Line Loans, together with interest as provided herein.

 

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(d)          Repayment
of Participations.

 

(i)          At
any time after any Lender has purchased and funded a risk participation in a Swing Line Loan, if the Swing Line Lender receives
any payment on account of such Swing Line Loan, the Swing Line Lender will distribute to such Lender its Applicable Percentage
thereof in the same funds as those received by the Swing Line Lender.

 

(ii)         If
any payment received by the Swing Line Lender in respect of principal or interest on any Swing Line Loan is required to be returned
by the Swing Line Lender under any of the circumstances described in Section 11.05 (including pursuant to any settlement
entered into by the Swing Line Lender in its discretion), each Lender shall pay to the Swing Line Lender its Applicable Percentage
thereof on demand of the Administrative Agent, plus interest thereon from the date of such demand to the date such amount is returned,
at a rate per annum equal to the applicable Overnight Rate. The Administrative Agent will make such demand upon the request of
the Swing Line Lender. The obligations of the Lenders under this clause shall survive the payment in full of the Obligations and
the termination of this Agreement.

 

(e)          Interest
for Account of Swing Line Lender. The Swing Line Lender shall be responsible for invoicing the Borrower
for interest on the Swing Line Loans. Until a Lender funds its Base Rate Committed Loan or risk participation pursuant to this
Section 2.04 to refinance such Lender’s Applicable Percentage of any Swing Line Loan, interest in respect of such
Applicable Percentage shall be solely for the account of the Swing Line Lender.

 

(f)          Payments
Directly to Swing Line Lender. The Borrower shall make all payments of principal and interest
in respect of the Swing Line Loans directly to the Swing Line Lender.

 

2.05         Prepayments.

 

(a)          The
Borrower may, upon notice to the Administrative Agent, at any time or from time to time voluntarily prepay Committed Loans in whole
or in part without premium or penalty; provided that (i) such notice must be received by the Administrative Agent not later
than 11:00 a.m. (A) three Business Days prior to any date of prepayment of Eurodollar Rate Loans, and (B) on the date of prepayment
of Base Rate Committed Loans; (ii) any prepayment of Eurodollar Rate Loans shall be in a principal amount of $1,000,000 or a whole
multiple of $500,000 in excess thereof; and (iii) any prepayment of Base Rate Committed Loans shall be in a principal amount of
$500,000 or a whole multiple of $100,000 in excess thereof or, in each case, if less, the entire principal amount thereof then
outstanding. Each such notice shall specify the date and amount of such prepayment and the Type(s) of Committed Loans to be prepaid
and, if Eurodollar Rate Loans are to be prepaid, the Interest Period(s) of such Loans. The Administrative Agent will promptly notify
each Lender of its receipt of each such notice, and of the amount of such Lender’s Applicable
Percentage of such prepayment. If such notice is given by the Borrower, the Borrower shall make such prepayment and the payment
amount specified in such notice shall be due and payable on the date specified therein. Any prepayment of a Eurodollar Rate Loan
shall be accompanied by all accrued interest on the amount prepaid, together with any additional amounts required pursuant to Section
3.05. Subject to Section 2.15, each such prepayment shall be applied to the Committed Loans of the Lenders in accordance
with their respective Applicable Percentages.

 

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(b)          The
Borrower may, upon notice to the Swing Line Lender (with a copy to the Administrative Agent),
at any time or from time to time, voluntarily prepay Swing Line Loans in whole or in part without premium or penalty; provided
that (i) such notice must be received by the Swing Line Lender and the Administrative Agent not later than 1:00 p.m. on the date
of the prepayment, and (ii) any such prepayment shall be in a minimum principal amount of $100,000. Each such notice shall specify
the date and amount of such prepayment. If such notice is given by the Borrower, the Borrower
shall make such prepayment and the payment amount specified in such notice shall be due and payable on the date specified therein.

 

(c)          If
for any reason the Total Outstandings at any time exceed the Aggregate Commitments then in effect (including as a result of any
reduction or termination of the Aggregate Commitments under Section 2.06), the Borrower shall immediately prepay Loans and/or
Cash Collateralize the L/C Obligations in an aggregate amount equal to such excess; provided that the Borrower shall not
be required to Cash Collateralize the L/C Obligations pursuant to this clause (c) unless after the prepayment in full of
the Committed Loans and Swing Line Loans the Total Outstandings exceed the Aggregate Commitments then in effect.

 

2.06         Termination
or Reduction of Commitments.

 

(a)          The
Borrower may, upon notice to the Administrative Agent, terminate the Aggregate Commitments, or
from time to time permanently reduce the Aggregate Commitments; provided that (i) any such notice shall be received by the Administrative
Agent not later than 11:00 a.m. five Business Days prior to the date of termination or reduction, (ii) any such partial reduction
shall be in an aggregate amount of $10,000,000 or any whole multiple of $1,000,000 in excess thereof, (iii) the Borrower
shall not terminate or reduce the Aggregate Commitments if, after giving effect thereto and to any concurrent prepayments hereunder,
the Total Outstandings would exceed the Aggregate Commitments, and (iv) if, after giving effect to any reduction of the Aggregate
Commitments, the Letter of Credit Sublimit or the Swing Line Sublimit exceeds the amount of the Aggregate Commitments, such Sublimit
shall be automatically reduced by the amount of such excess. The amount of any such Aggregate Commitment reduction under this clause
(a) shall not be applied to the Letter of Credit Sublimit unless otherwise specified by the Borrower.

 

    	39

    	 

    

(b)          If
the Borrower or any of its Subsidiaries issues, incurs or otherwise borrows any Debt after the Closing Date (other than Debt (i)
relating to the issuance of commercial paper under the Borrower’s commercial paper program in existence on the Closing Date,
(ii) of the type described in clauses (c) through (m) of the definition of “Debt”, (iii) between or among
the Borrower and any of its Subsidiaries, (iv) issued, incurred or borrowed by any Foreign Subsidiary under foreign lines of credit,
and (v) relating to borrowings under the Multi-Year Credit Agreement so long as the aggregate commitments under the Multi-Year
Credit Agreement do not exceed $500,000,000), the Aggregate Commitments shall, simultaneously with such incurrence, issuance or
borrowing, be automatically and permanently reduced on a dollar-for-dollar basis by an amount equal to 100% of the aggregate principal
amount of all such Debt available (whether in the form gross cash proceeds or total aggregate commitments, as applicable) to the
Borrower upon such incurrence, issuance or borrowing thereof; provided that, notwithstanding the foregoing, with respect
to any increase in the aggregate commitments under the Multi-Year Credit Agreement, the Aggregate Commitments shall be reduced
on a dollar-for-dollar basis only by an amount equal to the aggregate principal amount of the aggregate commitments under the Multi-Year
Credit Agreement in excess of $500,000,000. If after giving effect to any reduction or termination of the Aggregate Commitments
under this clause (b), the Letter of Credit Sublimit or the Swing Line Sublimit exceeds the Aggregate Commitments at such
time, the Letter of Credit Sublimit or the Swing Line Sublimit, as the case may be, shall be automatically reduced by the amount
of such excess.

 

(c)          The
Administrative Agent will promptly notify the Lenders of any termination or reduction (or any notice of any termination or reduction)
of the Aggregate Commitments under this Section 2.06. Any reduction of the Aggregate Commitments shall be applied to the
Commitment of each Lender according to its Applicable Percentage. All fees accrued until the effective date of any termination
of the Aggregate Commitments shall be paid on the effective date of such termination.

 

2.07         Repayment
of Loans.

 

(a)          The
Borrower shall repay to the Lenders on the Maturity Date the aggregate principal amount of all Committed Loans outstanding on such
date.

 

(b)          The
Borrower shall repay each Swing Line Loan on the earlier to occur of (i) the date ten Business Days after such Loan is made and
(ii) the Maturity Date.

 

2.08         Interest.

 

(a)          Subject
to the provisions of clause (b) below, (i) each Eurodollar Rate Loan shall bear interest on the outstanding principal amount
thereof for each Interest Period at a rate per annum equal to the Eurodollar Rate for such Interest Period plus the Applicable
Rate; (ii) each Base Rate Committed Loan shall bear interest on the outstanding principal amount thereof from the applicable borrowing
date at a rate per annum equal to the Base Rate plus the Applicable Rate; and (iii) unless the Swing Line Lender and the
Borrower otherwise agree from time to time, each Swing Line Loan shall bear interest on the outstanding
principal amount thereof from the applicable borrowing date at a rate per annum equal to the Base Rate plus the Applicable
Rate.

 

(b)          (i)          If
any amount of principal of any Loan is not paid when due (without regard to any applicable grace periods), whether at stated maturity,
by acceleration or otherwise, such amount shall thereafter bear interest at a fluctuating interest rate per annum at all times
equal to the Default Rate to the fullest extent permitted by applicable Laws.

 

(ii)         If
any amount (other than principal of any Loan) payable by the Borrower under any Loan Document is not paid when due (without regard
to any applicable grace periods), whether at stated maturity, by acceleration or otherwise, then upon the request of the Required
Lenders, such amount shall thereafter bear interest at a fluctuating interest rate per annum at all times equal to the Default
Rate to the fullest extent permitted by applicable Laws.

 

    	40

    	 

    

 

 

(iii)        Upon
the request of the Required Lenders, while any Event of Default exists (other than as set forth in clauses (b)(i) and (b)(ii)
above), the Borrower shall pay interest on the principal amount of all outstanding Obligations hereunder at a fluctuating interest
rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws.

 

(iv)        Accrued
and unpaid interest on past due amounts (including interest on past due interest) shall be due and payable upon demand.

 

(c)          Interest
on each Loan shall be due and payable in arrears on each Interest Payment Date applicable thereto and at such other times as may
be specified herein. Interest hereunder shall be due and payable in accordance with the terms hereof before and after judgment,
and before and after the commencement of any proceeding under any Debtor Relief Law.

 

2.09         Fees.
In addition to certain fees described in clause (h) and (i) of Section 2.03:

 

(a)          Commitment
Fee. The Borrower shall pay to the Administrative Agent for the account of each Lender in
accordance with its Applicable Percentage, a commitment fee, in Dollars, equal to the Applicable Rate times the actual daily
amount by which the Aggregate Commitments exceed the sum of (i) the Outstanding Amount of Committed Loans and (ii) the Outstanding
Amount of L/C Obligations, subject to adjustment as provided in Section 2.15. The commitment fee shall accrue at all times
during the Availability Period, including at any time during which one or more of the conditions in Article IV is not met,
and shall be due and payable quarterly in arrears on the last Business Day of each March, June, September
and December, commencing with the first such date to occur after the Closing Date, and on the last day of the Availability
Period. The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate during any
quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such
quarter that such Applicable Rate was in effect.

 

(b)          Other
Fees. (i) The Borrower shall pay to the Administrative Agent for its own account, in Dollars,
fees in the amounts and at the times specified in the Fee Letter. Such fees shall be fully earned when paid and shall not be refundable
for any reason whatsoever.

 

(ii)         The
Borrower shall pay to the Lenders, in Dollars, such fees as shall have been separately agreed
upon in writing in the amounts and at the times so specified. Such fees shall be fully earned when paid and shall not be refundable
for any reason whatsoever.

 

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2.10         Computation
of Interest and Fees. All computations of interest for Base Rate Loans (including Base Rate Loans determined by reference to
the Eurodollar Rate) shall be made on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed. All
other computations of fees and interest shall be made on the basis of a 360-day year and actual days elapsed (which results in
more fees or interest, as applicable, being paid than if computed on the basis of a 365-day year). Interest shall accrue on each
Loan for the day on which the Loan is made, and shall not accrue on a Loan, or any portion thereof, for the day on which the Loan
or such portion is paid, provided that any Loan that is repaid on the same day on which it is made shall, subject to Section
2.12(a), bear interest for one day. Each determination by the Administrative Agent of an interest rate or fee hereunder shall
be conclusive and binding for all purposes, absent manifest error.

 

2.11         Evidence
of Debt.

 

(a)          The
Credit Extensions made by each Lender shall be evidenced by one or more accounts or records maintained by such Lender and by the
Administrative Agent in the ordinary course of business. The accounts or records maintained by the Administrative Agent and each
Lender shall be conclusive absent manifest error of the amount of the Credit Extensions made by the Lenders to the Borrower and
the interest and payments thereon. Any failure to so record or any error in doing so shall not, however, limit or otherwise affect
the obligation of the Borrower hereunder to pay any amount owing with respect to the Obligations. In the event of any conflict
between the accounts and records maintained by any Lender and the accounts and records of the Administrative Agent in respect of
such matters, the accounts and records of the Administrative Agent shall control in the absence of manifest error. Upon the request
of any Lender to the Borrower made through the Administrative Agent, the Borrower shall execute and deliver to such Lender (through
the Administrative Agent) a Note, which shall evidence such Lender’s Loans to the Borrower in addition to such accounts or
records. Each Lender may attach schedules to its Note and endorse thereon the date, Type (if applicable), amount and maturity of
its Loans and payments with respect thereto.

 

(b)          In
addition to the accounts and records referred to in clause (a), each Lender and the Administrative Agent shall maintain
in accordance with its usual practice accounts or records evidencing the purchases and sales by such Lender of participations in
Letters of Credit and Swing Line Loans. In the event of any conflict between the accounts and records maintained by the Administrative
Agent and the accounts and records of any Lender in respect of such matters, the accounts and records of the Administrative Agent
shall control in the absence of manifest error.

 

2.12         Payments
Generally; Administrative Agent’s Clawback.

 

(a)          General.
All payments to be made by the Borrower shall be made free and clear of and without condition or deduction for any counterclaim,
defense, recoupment or setoff. Except as otherwise expressly provided herein, all payments by the Borrower hereunder shall be made
to the Administrative Agent, for the account of the respective Lenders to which such payment is owed, at the applicable Administrative
Agent’s Office in Dollars and in immediately available funds not later than 2:00 p.m. on
the date specified herein. The Administrative Agent will promptly distribute to each Lender its Applicable Percentage (or other
applicable share as provided herein) of such payment in like funds as received by wire transfer to such Lender’s Lending
Office. All payments received by the Administrative Agent after 2:00 p.m. shall be deemed received on the next succeeding Business
Day and any applicable interest or fee shall continue to accrue. If any payment to be made by the Borrower shall come due on a
day other than a Business Day, payment shall be made on the next following Business Day, and such extension of time shall be reflected
in computing interest or fees, as the case may be.

 

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(b)          (i)
Funding by Lenders; Presumption by Administrative Agent. Unless the Administrative Agent shall have received notice from
a Lender prior to the proposed date of any Committed Borrowing of Eurodollar Rate Loans (or, in the case of any Committed Borrowing
of Base Rate Loans, prior to 12:00 noon on the date of such Committed Borrowing) that such Lender will not make available to the
Administrative Agent such Lender’s share of such Committed Borrowing, the Administrative Agent may assume that such Lender
has made such share available on such date in accordance with Section 2.02 (or, in the case of a Committed Borrowing of
Base Rate Loans, that such Lender has made such share available in accordance with and at the time required by Section 2.02)
and may, in reliance upon such assumption, make available to the Borrower a corresponding amount. In such event, if a Lender has
not in fact made its share of the applicable Committed Borrowing available to the Administrative Agent, then the applicable Lender
and the Borrower severally agree to pay to the Administrative Agent forthwith on demand such corresponding amount in immediately
available funds with interest thereon, for each day from and including the date such amount is made available to the Borrower to
but excluding the date of payment to the Administrative Agent, at (A) in the case of a payment to be made by such Lender, the Overnight
Rate, plus any administrative, processing or similar fees customarily charged by the Administrative Agent in connection with the
foregoing, and (B) in the case of a payment to be made by the Borrower, the interest rate applicable to Base Rate Loans. If the
Borrower and such Lender shall pay such interest to the Administrative Agent for the same or an overlapping period, the Administrative
Agent shall promptly remit to the Borrower the amount of such interest paid by the Borrower for such period. If such Lender pays
its share of the applicable Committed Borrowing to the Administrative Agent, then the amount so paid shall constitute such Lender’s
Committed Loan included in such Committed Borrowing. Any payment by the Borrower shall be without prejudice to any claim the Borrower
may have against a Lender that shall have failed to make such payment to the Administrative Agent.

 

(ii)         Payments
by Borrower; Presumptions by Administrative Agent. Unless the Administrative Agent shall have received notice from the Borrower
prior to the date on which any payment is due to the Administrative Agent for the account of the Lenders or the L/C Issuer hereunder
that the Borrower will not make such payment, the Administrative Agent may assume that the Borrower has made such payment on such
date in accordance herewith and may, in reliance upon such assumption, distribute to the Lenders or the L/C Issuer, as the case
may be, the amount due. In such event, if the Borrower has not in fact made such payment, then each of the Lenders or the L/C Issuer,
as the case may be, severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such
Lender or the L/C Issuer, in immediately available funds with interest thereon, for each day from and including the date such amount
is distributed to it to but excluding the date of payment to the Administrative Agent, at the Overnight Rate.

 

A notice of the Administrative
Agent to any Lender or the Borrower with respect to any amount owing under this clause (b) shall be conclusive, absent manifest
error.

 

    	43

    	 

    

 

(c)          Failure
to Satisfy Conditions Precedent. If any Lender makes available to the Administrative Agent funds for any Loan to be made by
such Lender to the Borrower as provided in the foregoing provisions of this Article II, and such funds are not made available
to the Borrower by the Administrative Agent because the conditions to the applicable Credit Extension set forth in Article IV
are not satisfied or waived in accordance with the terms hereof, the Administrative Agent shall return such funds (in like funds
as received from such Lender) to such Lender, without interest.

 

(d)          Obligations
of Lenders Several. The obligations of the Lenders hereunder to make Committed Loans, to fund participations in Letters of
Credit and Swing Line Loans and to make payments pursuant to Section 11.04(c) are several and not joint. The failure of
any Lender to make any Committed Loan, to fund any such participation or to make any payment under Section 11.04(c) on any
date required hereunder shall not relieve any other Lender of its corresponding obligation to do so on such date, and no Lender
shall be responsible for the failure of any other Lender to so make its Committed Loan, to purchase its participation or to make
its payment under Section 11.04(c).

 

(e)          Funding
Source. Nothing herein shall be deemed to obligate any Lender to obtain the funds for any Loan in any particular place or manner
or to constitute a representation by any Lender that it has obtained or will obtain the funds for any Loan in any particular place
or manner.

 

2.13         Sharing
of Payments by Lenders. If any Lender shall, by exercising any right of setoff or counterclaim or otherwise, obtain payment
in respect of any principal of or interest on any of the Committed Loans made by it, or the participations in L/C Obligations or
in Swing Line Loans held by it resulting in such Lender’s receiving payment of a proportion of the aggregate amount of such
Committed Loans or participations and accrued interest thereon greater than its pro rata share thereof as provided herein, then
the Lender receiving such greater proportion shall (a) notify the Administrative Agent of such fact, and (b) purchase (for cash
at face value) participations in the Committed Loans and subparticipations in L/C Obligations and Swing Line Loans of the other
Lenders, or make such other adjustments as shall be equitable, so that the benefit of all such payments shall be shared by the
Lenders ratably in accordance with the aggregate amount of principal of and accrued interest on their respective Committed Loans
and other amounts owing them, provided that:

 

(i)          if
any such participations or subparticipations are purchased and all or any portion of the payment giving rise thereto is recovered,
such participations or subparticipations shall be rescinded and the purchase price restored to the extent of such recovery, without
interest; and

 

(ii)         the
provisions of this Section shall not be construed to apply to (x) any payment made by the Borrower pursuant to and in accordance
with the express terms of this Agreement (including the application of funds arising from the existence of a Defaulting Lender),
(y) the application of Cash Collateral provided for in Section 2.14, or (z) any payment obtained by a Lender as consideration
for the assignment of or sale of a participation in any of its Committed Loans or subparticipations in L/C Obligations or Swing
Line Loans to any assignee or participant, other than an assignment to the Borrower or any Subsidiary
thereof (as to which the provisions of this Section shall apply).

 

    	44

    	 

    

 

The
Borrower consents to the foregoing and agrees, to the extent it may effectively do so under applicable law, that any Lender
acquiring a participation pursuant to the foregoing arrangements may exercise against the Borrower
rights of setoff and counterclaim with respect to such participation as fully as if such Lender were a direct creditor of
the Borrower in the amount of such participation.

 

2.14         Cash
Collateral.

 

(a)          Certain
Credit Support Events. Upon the request of the Administrative Agent or the L/C Issuer (i) if the L/C Issuer has honored
any full or partial drawing request under any Letter of Credit and such drawing has resulted in an L/C Borrowing that has not been
repaid by the Borrower, or (ii) if, as of the Letter of Credit Expiration Date, any L/C Obligation
for any reason remains outstanding, the Borrower shall, in each case, immediately Cash Collateralize
the then Outstanding Amount of all L/C Obligations. At any time that there shall exist a Defaulting Lender, immediately upon the
request of the Administrative Agent, the L/C Issuer or the Swing Line Lender, the Borrower shall
deliver to the Administrative Agent Cash Collateral in an amount sufficient to cover all Fronting Exposure (after giving effect
to Section 2.15(a)(iv) and any Cash Collateral provided by the Defaulting Lender).

 

(b)          Grant
of Security Interest. All Cash Collateral (other than credit support not constituting funds subject to deposit) required
to be maintained pursuant to this Agreement shall be maintained in blocked, non-interest bearing deposit accounts at Bank of America.
The Borrower, and to the extent provided by any Lender, such Lender, hereby grants to (and subjects
to the control of) the Administrative Agent, for the benefit of the Administrative Agent, the L/C Issuer and the Lenders (including
the Swing Line Lender), and agrees to maintain, a first priority security interest in all such cash, deposit accounts and all balances
therein, and all other property so provided as collateral pursuant hereto, and in all proceeds of the foregoing, all as security
for the obligations to which such Cash Collateral may be applied pursuant to Section 2.14(c). If at any time the Administrative
Agent determines that Cash Collateral is subject to any right or claim of any Person other than the Administrative Agent as herein
provided, or that the total amount of such Cash Collateral is less than the applicable Fronting Exposure and other obligations
secured thereby, the Borrower or the relevant Defaulting Lender will, promptly upon demand by
the Administrative Agent, pay or provide to the Administrative Agent additional Cash Collateral in an amount sufficient to eliminate
such deficiency.

 

(c)          Application.
Notwithstanding anything to the contrary contained in this Agreement, Cash Collateral provided under any of this Section 2.14
or Sections 2.03, 2.04, 2.05, 2.15 or 9.02 in respect of Letters of Credit or Swing Line Loans
shall be held and applied to the satisfaction of the specific L/C Obligations, Swing Line Loans, obligations
to fund participations therein (including, as to Cash Collateral provided by a Defaulting Lender, any interest accrued on such
obligation) and other obligations for which the Cash Collateral was so provided, prior to any other application of such property
as may be provided for herein.

 

    	45

    	 

    

 

(d)          Release.
Cash Collateral (or the appropriate portion thereof) provided to reduce Fronting Exposure or to secure any other obligations as
provided for in this Agreement shall be released promptly following (i) the elimination of the applicable Fronting Exposure or
other obligations giving rise thereto (including by the termination of Defaulting Lender status of the applicable Lender (or, as
appropriate, its assignee following compliance with Section 11.06(b)(vi))) or (ii) the Administrative Agent’s good
faith determination that there exists excess Cash Collateral; provided that (x) that Cash Collateral furnished by or on
behalf of the Borrower shall not be released during the continuance of a Default or Event of
Default (and following application as provided in this Section 2.14 may be otherwise applied in accordance with Section
9.04), and (y) the Borrower and the L/C Issuer or Swing Line Lender, as applicable, may agree
that Cash Collateral shall not be released but instead held to support future anticipated Fronting Exposure or other obligations
as provided for in this Agreement.

 

2.15         Defaulting
Lenders.

 

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

 

(i)          Waivers
and Amendments. That Defaulting Lender’s right to approve or disapprove any amendment, waiver or consent with respect
to this Agreement shall be restricted as set forth in Section 11.01.

 

(ii)         Reallocation
of Payments. Any payment of principal, interest, fees or other amounts received by the Administrative Agent for the account
of that Defaulting Lender (whether voluntary or mandatory, at maturity, pursuant to Article IX or otherwise, and including
any amounts made available to the Administrative Agent by that Defaulting Lender pursuant to Section 11.08), shall be applied
at such time or times as may be determined by the Administrative Agent as follows: first, to the payment of any amounts
owing by that Defaulting Lender to the Administrative Agent hereunder; second, to the payment on a pro rata basis of any
amounts owing by that Defaulting Lender to the L/C Issuer or Swing Line Lender hereunder; third, if so determined by the
Administrative Agent or requested by the L/C Issuer or Swing Line Lender, to be held as Cash Collateral for future funding obligations
of that Defaulting Lender of any participation in any Swing Line Loan or Letter of Credit; fourth, as the Borrower
may request (so long as no Default or Event of Default exists), to the funding of any Loan in respect of which that Defaulting
Lender has failed to fund its portion thereof as required by this Agreement, as determined by the Administrative Agent; fifth,
if so determined by the Administrative Agent and the Borrower, to
be held in a non-interest bearing deposit account and released in order to satisfy obligations of that Defaulting Lender
to fund Loans under this Agreement; sixth, to the payment of any amounts owing to the Lenders, the L/C Issuer or Swing Line
Lender as a result of any judgment of a court of competent jurisdiction obtained by any Lender, the L/C Issuer or Swing Line Lender
against that Defaulting Lender as a result of that Defaulting Lender’s breach of its obligations under this Agreement; seventh,
so long as no Default or Event of Default exists, to the payment of any amounts owing to the Borrower
as a result of any judgment of a court of competent jurisdiction obtained by the Borrower against
that Defaulting Lender as a result of that Defaulting Lender’s breach of its obligations under this Agreement; and eighth,
to that Defaulting Lender or as otherwise directed by a court of competent jurisdiction; provided that if (x) such payment
is a payment of the principal amount of any Loans or L/C Borrowings in respect of which that Defaulting Lender has not fully funded
its appropriate share and (y) such Loans or L/C Borrowings were made at a time when the conditions set forth in Section 4.02
were satisfied or waived, such payment shall be applied solely to pay the Loans of, and L/C Borrowings owed to, all non-Defaulting
Lenders on a pro rata basis prior to being applied to the payment of any Loans of, or L/C Borrowings owed to, that Defaulting Lender.
Any payments, prepayments or other amounts paid or payable to a Defaulting Lender that are applied (or held) to pay amounts owed
by a Defaulting Lender or to post Cash Collateral pursuant to this Section 2.15(a)(ii) shall be deemed paid to and redirected
by that Defaulting Lender, and each Lender irrevocably consents hereto.

 

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(iii)        Certain
Fees. That Defaulting Lender (x) shall not be entitled to receive any commitment fee pursuant to Section 2.09(a) for
any period during which that Lender is a Defaulting Lender (and the Borrower shall not be required
to pay any such fee that otherwise would have been required to have been paid to that Defaulting Lender) for any period during
which that Lender is a Defaulting Lender only to extent allocable to the sum of (1) the Outstanding
Amount of the Committed Loans funded by it and (2) its Applicable Percentage of the stated amount of Letters of Credit and Swing
Line Loans for which it has provided Cash Collateral pursuant to Section 2.03, 2.04, 2.14, or 2.15(a)(ii),
as applicable (and the Borrower shall (A) be required to pay to each of the L/C Issuer
and the Swing Line Lender, as applicable, the amount of such fee allocable to its Fronting Exposure arising from that Defaulting
Lender and (B) not be required to pay the remaining amount of such fee that otherwise would have been required to have been paid
to that Defaulting Lender) and (y) shall be limited in its right to receive Letter of Credit Fees as provided in Section 2.03(h).

 

(iv)        Reallocation
of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes
of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters
of Credit or Swing Line Loans pursuant to Sections 2.03 and 2.04, the “Applicable Percentage” of each
non-Defaulting Lender shall be computed without giving effect to the Commitment of that Defaulting Lender; provided that
(i) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default
or Event of Default exists; and (ii) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations
in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1) the Commitment of that non-Defaulting
Lender minus (2) the aggregate Outstanding Amount of the Committed Loans of that Lender.

 

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(b)          Defaulting
Lender Cure. If the Borrower, the Administrative Agent, Swing Line Lender and the
L/C Issuer agree in writing in their sole discretion that a Defaulting Lender should no longer be deemed to be a Defaulting Lender,
the Administrative Agent will so notify the parties hereto, whereupon as of the effective date specified in such notice and subject
to any conditions set forth therein (which may include arrangements with respect to any Cash Collateral), that Lender will, to
the extent applicable, purchase that portion of outstanding Loans of the other Lenders or take such other actions as the Administrative
Agent may determine to be necessary to cause the Committed Loans and funded and unfunded participations in Letters of Credit and
Swing Line Loans to be held on a pro rata basis by the Lenders in accordance with their Applicable Percentages (without giving
effect to Section 2.15(a)(iv)), whereupon that Lender will cease to be a Defaulting Lender; provided that no adjustments
will be made retroactively with respect to fees accrued or payments made by or on behalf of the Borrower
while that Lender was a Defaulting Lender; and provided, further, that except to the extent otherwise expressly agreed
by the affected parties, no change hereunder from Defaulting Lender to Lender will constitute a waiver or release of any claim
of any party hereunder arising from that Lender’s having been a Defaulting Lender.

 

ARTICLE
III.

TAXES,
YIELD PROTECTION AND ILLEGALITY

 

3.01         Taxes.

 

(a)          Payments
Free of Taxes; Obligation to Withhold; Payments on Account of Taxes.

 

(i)          Any
and all payments by or on account of any obligation of the Borrower under any Loan Document shall be made without deduction or
withholding for any Taxes, except as required by applicable Laws. If any applicable Laws (as determined in the good faith discretion
of the Administrative Agent) require the deduction or withholding of any Tax from any such payment by the Administrative Agent
or the Borrower, then the Administrative Agent or the Borrower shall be entitled to make such deduction or withholding, upon the
basis of the information and documentation to be delivered pursuant to subsection (e) below.

 

(ii)         If
the Borrower or the Administrative Agent shall be required by the Code to withhold or deduct any Taxes, including both United
States Federal backup withholding and withholding taxes, from any payment, then (A) the Administrative Agent shall withhold or
make such deductions as are determined by the Administrative Agent to be required based upon the information and documentation
it has received pursuant to subsection (e) below, (B) the Administrative Agent shall timely pay the full amount withheld
or deducted to the relevant Governmental Authority in accordance with the Code, and (C) to the extent that the withholding or deduction
is made on account of Indemnified Taxes, the sum payable by the Borrower shall be increased as necessary so that after any required
withholding or the making of all required deductions (including deductions applicable to additional sums payable under this Section
3.01) the applicable Recipient receives an amount equal to the sum it would have received had no such withholding or deduction
been made.

 

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(iii)        If
the Borrower or the Administrative Agent shall be required by any applicable Laws other than the Code to withhold or deduct
any Taxes from any payment, then (A) the Borrower or the Administrative Agent, as required by such Laws, shall withhold or make
such deductions as are determined by it to be required based upon the information and documentation it has received pursuant to
subsection (e) below, (B) the Borrower or the Administrative Agent, to the extent required by such Laws, shall timely pay
the full amount withheld or deducted to the relevant Governmental Authority in accordance with such Laws, and (C) to the extent
that the withholding or deduction is made on account of Indemnified Taxes, the sum payable by the Borrower shall be increased as
necessary so that after any required withholding or the making of all required deductions (including deductions applicable to additional
sums payable under this Section 3.01) the applicable Recipient receives an amount equal to the sum it would have received
had no such withholding or deduction been made.

 

(b)          Payment
of Other Taxes by the Borrower. Without limiting the provisions of clause (a) above, the Borrower shall timely pay to
the relevant Governmental Authority in accordance with applicable law, or at the option of the Administrative Agent timely reimburse
it for the payment of, any Other Taxes.

 

(c)          Tax
Indemnifications. (i) The Borrower shall, and does hereby, indemnify each Recipient, and shall make payment in respect thereof
within 10 days after demand therefor, for the full amount of any Indemnified Taxes (including Indemnified Taxes imposed or asserted
on or attributable to amounts payable under this Section 3.01) payable or paid by such Recipient or required to be withheld
or deducted from a payment to such Recipient, and any penalties, interest and reasonable expenses arising therefrom or with respect
thereto, whether or not such Indemnified Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority.
A certificate as to the amount of such payment or liability delivered to the Borrower by a Lender or the L/C Issuer (with a copy
to the Administrative Agent), or by the Administrative Agent on its own behalf or on behalf of a Lender or the L/C Issuer, shall
be conclusive absent manifest error. The Borrower shall, and does hereby, indemnify the Administrative Agent, and shall make payment
in respect thereof within 10 days after demand therefor, for any amount which a Lender or the L/C Issuer for any reason fails to
pay indefeasibly to the Administrative Agent as required pursuant to Section 3.01(c)(ii) below.

 

(ii)         Each
Lender and the L/C Issuer shall, and does hereby, severally indemnify, and shall make payment in respect thereof within 10 days
after demand therefor, (x) the Administrative Agent against any Indemnified Taxes attributable to such Lender or the L/C Issuer
(but only to the extent that the Borrower has not already indemnified the Administrative Agent for such Indemnified Taxes and without
limiting the obligation of the Borrower to do so), (y) the Administrative Agent and the Borrower, as applicable, against any Taxes
attributable to such Lender’s failure to comply with the provisions of Section 10.06(d) relating to the maintenance
of a Participant Register, and (z) the Administrative Agent and the Borrower, as applicable, against any Excluded Taxes attributable
to such Lender or the L/C Issuer, in each case, that are payable or paid by the Administrative Agent or the Borrower in connection
with any Loan Document, and any reasonable expenses arising therefrom or with respect thereto, whether or not such Taxes were correctly
or legally imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such payment or liability
delivered to any Lender by the Administrative Agent shall be conclusive absent manifest error. Each Lender and the L/C Issuer hereby
authorizes the Administrative Agent to set off and apply any and all amounts at any time owing to such Lender or the L/C Issuer,
as the case may be, under this Agreement or any other Loan Document against any amount due to the Administrative Agent under this
clause (ii).

 

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(d)          Evidence
of Payments. Upon request by the Borrower or the Administrative Agent, as the case may be, after any payment of Taxes by the
Borrower or by the Administrative Agent to a Governmental Authority as provided in this Section 3.01, the Borrower shall
deliver to the Administrative Agent or the Administrative Agent shall deliver to the Borrower, as the case may be, the original
or a certified copy of a receipt issued by such Governmental Authority evidencing such payment, a copy of any return required by
Laws to report such payment or other evidence of such payment reasonably satisfactory to the Borrower or the Administrative Agent,
as the case may be.

 

(e)          Status
of Lenders; Tax Documentation.

 

(i)          Any
Lender that is entitled to an exemption from or reduction of withholding Tax with respect to payments made under any Loan Document
shall deliver to the Borrower and the Administrative Agent, at the time or times reasonably requested by the Borrower or the Administrative
Agent, such properly completed and executed documentation reasonably requested by the Borrower or the Administrative Agent as will
permit such payments to be made without withholding or at a reduced rate of withholding. In addition, any Lender, if reasonably
requested by the Borrower or the Administrative Agent, shall deliver such other documentation prescribed by applicable law or reasonably
requested by the Borrower or the Administrative Agent as will enable the Borrower or the Administrative Agent to determine whether
or not such Lender is subject to backup withholding or information reporting requirements. Notwithstanding anything to the contrary
in the preceding two sentences, the completion, execution and submission of such documentation (other than such documentation set
forth in Section 3.01(e)(ii)(A), (ii)(B) and (ii)(D) below) shall not be required if in the Lender’s
reasonable judgment such completion, execution or submission would subject such Lender to any material unreimbursed cost or expense
or would materially prejudice the legal or commercial position of such Lender.

 

(ii)         Without
limiting the generality of the foregoing, in the event that the Borrower is a U.S. Person,

 

(A)         any
Lender that is a U.S. Person shall deliver to the Borrower and the Administrative Agent on or prior to the date on which such Lender
becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the Administrative
Agent), executed originals of IRS Form W-9 certifying that such Lender is exempt from U.S. federal backup withholding tax;

 

(B)         any
Foreign Lender shall, to the extent it is legally entitled to do so, deliver to the Borrower and the Administrative Agent (in such
number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender
under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the Administrative Agent),
whichever of the following is applicable:

 

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(I)         in
the case of a Foreign Lender claiming the benefits of an income tax treaty to which the United States is a party (x) with respect
to payments of interest under any Loan Document, executed originals of IRS Form W-8BEN establishing an exemption from, or reduction
of, U.S. federal withholding Tax pursuant to the “interest” article of such tax treaty and (y) with respect to any
other applicable payments under any Loan Document, IRS Form W-8BEN establishing an exemption from, or reduction of, U.S. federal
withholding Tax pursuant to the “business profits” or “other income” article of such tax treaty;

 

(II)        executed
originals of Internal Revenue Service Form W-8ECI,

 

(III)       in
the case of a Foreign Lender claiming the benefits of the exemption for portfolio interest under Section 881(c) of the Code, (x)
the relevant certificate to the effect that such Foreign Lender is not a “bank” within the meaning of Section 881(c)(3)(A)
of the Code, a “10 percent shareholder” of the Borrower within the meaning of Section 881(c)(3)(B) of the Code, or
a “controlled foreign corporation” described in Section 881(c)(3)(C) of the Code (each such relevant certificate, substantially
in the form of Exhibit E, a “U.S. Tax Compliance Certificate”) and (y) executed originals of IRS Form
W-8BEN; or

 

(IV)        to
the extent a Foreign Lender is not the beneficial owner, executed originals of IRS Form W-8IMY, accompanied by IRS Form W-8ECI,
IRS Form W-8BEN, the relevant U.S. Tax Compliance Certificate, IRS Form W-9, and/or other certification documents from each beneficial
owner, as applicable; provided that if the Foreign Lender is a partnership and one or more direct or indirect partners of
such Foreign Lender are claiming the portfolio interest exemption, such Foreign Lender may provide the relevant U.S. Tax Compliance
Certificate on behalf of each such direct and indirect partner;

 

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

 

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(D)         if
a payment made to a Lender under any Loan Document would be subject to U.S. federal withholding Tax imposed by FATCA if such Lender
were to fail to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b)
of the Code, as applicable), such Lender shall deliver to the Borrower and the Administrative Agent at the time or times prescribed
by law and at such time or times reasonably requested by the Borrower or the Administrative Agent such documentation prescribed
by applicable law (including as prescribed by Section 1471(b)(3)(C)(i) of the Code) and such additional documentation reasonably
requested by the Borrower or the Administrative Agent as may be necessary for the Borrower and the Administrative Agent to comply
with their obligations under FATCA and to determine that such Lender has complied with such Lender’s obligations under FATCA
or to determine the amount to deduct and withhold from such payment. Solely for purposes of this clause (D), “FATCA”
shall include any amendments made to FATCA after the date of this Agreement.

 

(iii)        Each
Lender agrees that if any form or certification it previously delivered pursuant to this Section 3.01 expires or becomes
obsolete or inaccurate in any respect, it shall update such form or certification or promptly notify the Borrower and the Administrative
Agent in writing of its legal inability to do so.

 

(f)          Treatment
of Certain Refunds. Unless required by applicable Laws, at no time shall the Administrative Agent have any obligation to file
for or otherwise pursue on behalf of a Lender or the L/C Issuer, or have any obligation to pay to any Lender or the L/C Issuer,
any refund of Taxes withheld or deducted from funds paid for the account of such Lender or the L/C Issuer, as the case may be.
If any Recipient determines, in its sole discretion exercised in good faith, that it has received a refund of any Taxes as to which
it has been indemnified by the Borrower or with respect to which the Borrower has paid additional amounts pursuant to this Section
3.01, it shall pay to the Borrower an amount equal to such refund (but only to the extent of indemnity payments made, or additional
amounts paid, by the Borrower under this Section 3.01 with respect to the Taxes giving rise to such refund), net
of all out-of-pocket expenses (including Taxes) incurred by such Recipient, and without interest (other than any interest paid
by the relevant Governmental Authority with respect to such refund), provided that the Borrower, upon the request of the
Recipient, agrees to repay the amount paid over to the Borrower (plus any penalties, interest or other charges imposed by the relevant
Governmental Authority) to the Recipient in the event the Recipient is required to repay such refund to such Governmental Authority.
Notwithstanding anything to the contrary in this clause (f), in no event will the applicable Recipient be required to pay
any amount to the Borrower pursuant to this subsection the payment of which would place the Recipient in a less favorable net after-Tax
position than such Recipient would have been in if the Tax subject to indemnification and giving rise to such refund had not been
deducted, withheld or otherwise imposed and the indemnification payments or additional amounts with respect to such Tax had never
been paid. This clause (f) shall not be construed to require any Recipient to make available its tax returns (or any other
information relating to its taxes that it deems confidential) to the Borrower or any other Person.

 

(g)          Survival.
Each party’s obligations under this Section 3.01 shall survive the resignation or replacement of the Administrative
Agent or any assignment of rights by, or the replacement of, a Lender or the L/C Issuer, the termination of the Commitments and
the repayment, satisfaction or discharge of all other Obligations.

 

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3.02         Illegality.
If any Lender determines that any Law has made it unlawful, or that any Governmental Authority has asserted that it is unlawful,
for any Lender or its applicable Lending Office to make, maintain or fund Loans whose interest is determined by reference to the
Eurodollar Rate, or to determine or charge interest rates based upon the Eurodollar Rate, or any Governmental Authority has imposed
material restrictions on the authority of such Lender to purchase or sell, or to take deposits of, Dollars in the London interbank
market, then, on notice thereof by such Lender to the Borrower through the Administrative Agent,
(i) any obligation of such Lender to make or continue Eurodollar Rate Loans, or to convert Base Rate Committed Loans to Eurodollar
Rate Loans shall be suspended, and (ii) if such notice asserts the illegality of such Lender making or maintaining Base Rate Loans
the interest rate on which is determined by reference to the Eurodollar Rate component of the Base Rate, the interest rate on which
Base Rate Loans of such Lender shall, if necessary to avoid such illegality, be determined by the Administrative Agent without
reference to the Eurodollar Rate component of the Base Rate, in each case until such Lender notifies the Administrative Agent and
the Borrower that the circumstances giving rise to such determination no longer exist. Upon receipt
of such notice, (x) the Borrower shall, upon demand from such Lender (with a copy to the Administrative Agent), prepay or, if applicable,
and such loans are denominated in Dollars, convert all Eurodollar Rate Loans of such Lender and Base Rate Loans as to which the
interest rate is determined with reference to Eurodollar Rate to Base Rate Loans (the interest rate on which Base Rate Loans of
such Lender shall, if necessary to avoid such illegality, be determined by the Administrative Agent without reference to the Eurodollar
Rate component of the Base Rate), either on the last day of the Interest Period therefor, if such Lender may lawfully continue
to maintain such Eurodollar Rate Loans to such day, or immediately, if such Lender may not lawfully continue to maintain such Eurodollar
Rate Loans or Base Rate Loans and (y) if such notice asserts the illegality of such Lender determining or charging interest rates
based upon the Eurodollar Rate, the Administrative Agent shall during the period of such suspension compute the Base Rate applicable
to such Lender without reference to the Eurodollar Rate component thereof until the Administrative Agent is advised in writing
by such Lender that it is no longer illegal for such Lender to determine or charge interest rates based upon the Eurodollar Rate.
Upon any such prepayment or conversion, the Borrower shall also pay accrued interest on the amount so prepaid or converted.

 

3.03         Inability
to Determine Rates. If the Required Lenders determine that for any reason in connection with any request for a Eurodollar Rate
Loan or a conversion to or continuation thereof that (a) deposits are not being offered to banks in the London interbank eurodollar
market for the applicable amount and Interest Period of such Eurodollar Rate Loan, (b) adequate and reasonable means do not exist
for determining the Eurodollar Rate for any requested Interest Period with respect to a proposed Eurodollar Rate Loan or in connection
with an existing or proposed Base Rate Loan, or (c) the Eurodollar Rate for any requested Interest Period with respect to a proposed
Eurodollar Rate Loan does not adequately and fairly reflect the cost to such Lenders of funding such Loan, the Administrative Agent
will promptly so notify the Borrower and each Lender. Thereafter, (x) the obligation of the Lenders
to make or maintain Eurodollar Rate Loans shall be suspended, and (y) in the event of a determination described in the preceding
sentence with respect to the Eurodollar Rate component of the Base Rate, the utilization of the Eurodollar Rate component in determining
the Base Rate shall be suspended, in each case until the Administrative Agent (upon the instruction of the Required Lenders) revokes
such notice. Upon receipt of such notice, the Borrower may revoke any pending request for a Borrowing
of, conversion to or continuation of Eurodollar Rate Loans or, failing that, will be deemed to have converted such request into
a request for a Committed Borrowing of Base Rate Loans in the amount specified therein.

 

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3.04         Increased
Costs; Reserves on Eurodollar Rate Loans.

 

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

 

(i)          impose,
modify or deem applicable any reserve, special deposit, compulsory loan, insurance charge or similar requirement against assets
of, deposits with or for the account of, or credit extended or participated in by, any Lender (except any reserve requirement contemplated
by Section 3.04(e)) or the L/C Issuer;

 

(ii)         subject
any Recipient to any Taxes (other than (A) Indemnified Taxes, (B) Taxes described in clauses (b) through (d) of the definition
of Excluded Taxes and (C) Connection Income Taxes) on its loans, loan principal, letters of credit, commitments, or other obligations,
or its deposits, reserves, other liabilities or capital attributable thereto; or

 

(iii)        impose
on any Lender or the L/C Issuer or the London interbank market any other condition, cost or expense affecting this Agreement or
Eurodollar Rate Loans made by such Lender or any Letter of Credit or participation therein;

 

and the result of any of the foregoing
shall be to increase the cost to such Lender of making, converting to, continuing or maintaining any Loan the interest on which
is determined by reference to the Eurodollar Rate (or of maintaining its obligation to make any
such Loan), or to increase the cost to such Lender or the L/C Issuer of participating in, issuing or maintaining any Letter of
Credit (or of maintaining its obligation to participate in or to issue any Letter of Credit), or to reduce the amount of any sum
received or receivable by such Lender or the L/C Issuer hereunder (whether of principal, interest or any other amount) then, upon
request of such Lender or the L/C Issuer, the Borrower will pay to such Lender or the L/C Issuer,
as the case may be, such additional amount or amounts as will compensate such Lender or the L/C Issuer, as the case may be, for
such additional costs incurred or reduction suffered; provided that, as to any claim for compensation made by a Lender pursuant
to this Section 3.04, in respect of any Change in Law, such Lender shall only make such claim on the Company if such Lender
is otherwise generally making such claims on other similarly situated debtors of such Lender.

 

(b)          Capital
Requirements. If any Lender or the L/C Issuer determines that any Change in Law affecting such Lender or the L/C Issuer or
any Lending Office of such Lender or such Lender’s or the L/C Issuer’s holding company, if any, regarding capital or
liquidity requirements has or would have the effect of reducing the rate of return on such Lender’s or the L/C Issuer’s
capital or on the capital of such Lender’s or the L/C Issuer’s holding company, if any, as a consequence of this Agreement,
the Commitments of such Lender or the Loans made by, or participations in Letters of Credit held by, such Lender, or the Letters
of Credit issued by the L/C Issuer, to a level below that which such Lender or the L/C Issuer or such Lender’s or the L/C
Issuer’s holding company could have achieved but for such Change in Law (taking into consideration such Lender’s or
the L/C Issuer’s policies and the policies of such Lender’s or the L/C Issuer’s holding company with respect
to capital adequacy), then from time to time the Borrower will pay to such Lender or the L/C Issuer, as the case may be, such additional
amount or amounts as will compensate such Lender or the L/C Issuer or such Lender’s or the L/C Issuer’s holding company
for any such reduction suffered; provided that, as to any claim for compensation made by a Lender pursuant to this Section
3.04, in respect of any Change in Law, such Lender shall only make such claim on the Company if such Lender is otherwise generally
making such claims on other similarly situated debtors of such Lender.

 

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(c)          Certificates
for Reimbursement. A certificate of a Lender or the L/C Issuer setting forth the amount or amounts necessary to compensate
such Lender or the L/C Issuer or its holding company, as the case may be, as specified in clause (a) or (b) of this
Section and delivered to the Borrower shall be conclusive absent manifest error. The Borrower shall pay such Lender or the L/C
Issuer, as the case may be, the amount shown as due on any such certificate within 10 days after receipt thereof.

 

(d)          Delay
in Requests. Failure or delay on the part of any Lender or the L/C Issuer to demand compensation pursuant to the foregoing
provisions of this Section shall not constitute a waiver of such Lender’s or the L/C Issuer’s right to demand such
compensation, provided that the Borrower shall not be required to compensate a Lender or the L/C Issuer pursuant to the
foregoing provisions of this Section for any increased costs incurred or reductions suffered more than ninety (90) days prior to
the date that such Lender or the L/C Issuer, as the case may be, notifies the Borrower of the Change in Law giving rise to such
increased costs or reductions and of such Lender’s or the L/C Issuer’s intention to claim compensation therefor (except
that, if the Change in Law giving rise to such increased costs or reductions is retroactive, then the ninety (90) day period referred
to above shall be extended to include the period of retroactive effect thereof).

 

(e)          Reserves
on Eurodollar Rate Loans. The Borrower shall pay to each Lender, (i) as long as such Lender shall be required to maintain reserves
with respect to liabilities or assets consisting of or including Eurodollar funds or deposits (currently known as “Eurodollar
liabilities”), additional interest on the unpaid principal amount of each Eurodollar Rate Loan equal to the actual costs
of such reserves allocated to such Loan by such Lender (as determined by such Lender in good faith, which determination shall be
conclusive), and (ii) as long as such Lender shall be required to comply with any reserve ratio requirement or analogous requirement
of any central banking or financial regulatory authority imposed in respect of the maintenance of the Commitments or the funding
of Eurodollar Rate Loans, such additional costs (expressed as a percentage per annum and rounded upwards, if necessary, to the
nearest five decimal places) equal to the actual costs allocated to such Commitment or Loan by such Lender (as determined by such
Lender in good faith, which determination shall be conclusive), which shall be due and payable on each date on which interest is
payable on such Loan; provided that the Borrower shall have received at least 10 days’ prior notice (with a copy to
the Administrative Agent) of such additional interest or costs from such Lender. If a Lender fails to give notice 10 days prior
to the relevant Interest Payment Date, such additional interest or costs shall be due and payable 10 days from receipt of such
notice.

 

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3.05         Compensation
for Losses. Upon demand of any Lender (with a copy to the Administrative Agent) from time to time, the Borrower shall promptly
compensate such Lender for and hold such Lender harmless from any loss, cost or expense incurred by it as a result of:

 

(a)          any
continuation, conversion, payment or prepayment of any Loan other than a Base Rate Loan on a day other than the last day of the
Interest Period for such Loan (whether voluntary, mandatory, automatic, by reason of acceleration, or otherwise);

 

(b)          any
failure by the Borrower (for a reason other than the failure of such Lender to make a Loan) to prepay, borrow, continue or convert
any Loan other than a Base Rate Loan on the date or in the amount notified by the Borrower;

 

(c)          any
assignment of a Eurodollar Rate Loan on a day other than the last day of the Interest Period therefor as a result of a request
by the Borrower pursuant to Section 11.13;

 

including any loss of anticipated profits,
any foreign exchange losses and any loss or expense arising from the liquidation or reemployment of funds obtained by it to maintain
such Loan, from fees payable to terminate the deposits from which such funds were obtained or from the performance of any foreign
exchange contract. The Borrower shall also pay any customary administrative fees charged by such Lender in connection with the
foregoing.

 

For purposes of calculating amounts payable
by the Borrower to the Lenders under this Section 3.05, each Lender shall be deemed to have funded each Eurodollar Rate
Loan made by it at the Eurodollar Rate for such Loan by a matching deposit or other borrowing
in the London interbank market for a comparable amount and for a comparable period, whether or not such Eurodollar
Rate Loan was in fact so funded.

 

3.06         Mitigation
Obligations; Replacement of Lenders.

 

(a)          Designation
of a Different Lending Office. If any Lender requests compensation under Section 3.04, or requires the Borrower to pay
any Indemnified Taxes or additional amounts to any Lender, the L/C Issuer, or any Governmental Authority for the account of any
Lender or the L/C Issuer pursuant to Section 3.01, or if any Lender gives a notice pursuant to Section 3.02, then,
at the request of the Borrower, such Lender or the L/C Issuer shall, as applicable, use reasonable efforts to designate a different
Lending Office for funding or booking its Loans hereunder or to assign its rights and obligations hereunder to another of its offices,
branches or affiliates, if, in the judgment of such Lender or the L/C Issuer, such designation or assignment (i) would eliminate
or reduce amounts payable pursuant to Section 3.01 or 3.04, as the case may be, in the future, or eliminate the need
for the notice pursuant to Section 3.02, as applicable, and (ii) in each case, would not subject such Lender or the L/C
Issuer, as the case may be, to any unreimbursed cost or expense and would not otherwise be disadvantageous to such Lender or the
L/C Issuer, as the case may be. The Borrower hereby agrees to pay all reasonable costs and expenses incurred by any Lender or the
L/C Issuer in connection with any such designation or assignment.

 

(b)          Replacement
of Lenders. If any Lender requests compensation under Section 3.04, or if the Borrower is required to pay any Indemnified
Taxes or additional amounts to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 3.01
and, in each case, such Lender has declined or is unable to designate a different lending office in accordance with Section
3.06(a), the Borrower may replace such Lender in accordance with Section 10.13.

 

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3.07         Survival.
All of the Borrower’s obligations under this Article III shall survive termination of the Aggregate Commitments, repayment
of all other Obligations hereunder, and resignation of the Administrative Agent.

 

ARTICLE
IV.

CONDITIONS PRECEDENT TO Credit Extensions

 

4.01         Conditions
of Initial Credit Extension. The obligation of the L/C Issuer and each Lender to make its initial Credit Extension hereunder
is subject to satisfaction of the following conditions precedent:

 

(a)          Executed
Loan Documents. This Agreement, the Notes (if any) and all other applicable Loan Documents shall have been duly authorized,
executed and delivered to the Administrative Agent by the parties thereto, shall be in full force and effect and no Default shall
exist hereunder or thereunder.

 

(b)          Closing
Certificates; Etc.

 

(i)          Officers’
Certificates. The Administrative Agent shall have received a certificate from a Responsible Officer, in form and substance
reasonably satisfactory to the Administrative Agent, (a) to the effect that all representations and warranties of the Borrower
contained in this Agreement and the other Loan Documents are true, correct and complete in all material respects; (b) that the
Borrower is not in violation of any of the covenants contained in this Agreement and the other Loan Documents; and (c) that, after
giving effect to the transactions contemplated by this Agreement, no Default or Event of Default has occurred and is continuing;
and that each of the closing conditions has been satisfied or waived (assuming satisfaction of the Administrative Agent where not
advised otherwise).

 

(ii)         General
Certificates. The Administrative Agent shall have received a certificate of the secretary, assistant secretary of the Borrower
certifying as to the incumbency and genuineness of the signature of each officer of the Borrower executing Loan Documents to which
it is a party and certifying that attached thereto is a true, correct and complete copy of (A) the articles of incorporation of
the Borrower and all amendments thereto, certified as of a recent date by the appropriate Governmental Authority in the State of
Georgia, (B) the bylaws of the Borrower as in effect on the date of such certification, and (C) resolutions duly adopted by the
Board of Directors of the Borrower authorizing the borrowings contemplated hereunder and the execution, delivery and performance
of this Agreement and the other Loan Documents to which it is a party.

 

(iii)        Certificates
of Good Standing. The Administrative Agent shall have received certificates as of a recent date of the good standing of the
Borrower under the laws of the State of Georgia.

 

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(iv)        Opinions
of Counsel. The Administrative Agent shall have received opinions in form and substance reasonably satisfactory to the Administrative
Agent of internal and external counsel to the Borrower, addressed to the Administrative Agent and the Lenders with respect to the
Borrower, the Loan Documents and such other matters as the Administrative Agent shall reasonably request.

 

(c)          Consents;
Defaults.

 

(i)          Governmental
and Third Party Approvals. The Borrower shall have obtained all approvals, authorizations and consents of any Person and of
all Governmental Authorities and courts having jurisdiction necessary in order to enter into this Agreement and the other Loan
Documents as of the Closing Date. Additionally, there shall not exist any judgment, order, injunction or other restraint issued
or filed or a hearing seeking injunctive relief or other restraint pending or notified prohibiting or imposing materially adverse
conditions upon the transactions contemplated by this Agreement and the other Loan Documents or otherwise referred to herein or
therein.

 

(ii)         No
Event of Default. No Default or Event of Default shall have occurred and be continuing.

 

(d)          No
Material Adverse Effect. Since December 31, 2011 nothing shall have occurred (and neither the Administrative Agent nor the
Lenders shall have become aware of any facts or conditions not previously known) which has had, or could reasonably be expected
to have, a Material Adverse Effect.

 

(e)          Financial
Matters.

 

(i)          Financial
Statements. The Administrative Agent shall have received and reviewed (A) the consolidated financial statements of the Borrower
and its Subsidiaries for the fiscal year ended December 31, 2011, including balance sheets, income and cash flow statements audited
by independent public accountants of recognized national standing and prepared in conformity with GAAP, and (B) such other financial
information as the Administrative Agent may request.

 

(ii)         Payment
at Closing. The Borrower shall have paid any accrued and unpaid fees or commissions due hereunder (including, without limitation,
legal fees and expenses payable under Section 11.04, to the extent invoiced) to the Administrative Agent and Lenders, and
to any other Person such amount as may be due thereto in connection with the transactions contemplated hereby, including all taxes,
fees and other charges in connection with the execution, delivery, recording, filing and registration of any of the Loan Documents.

 

(f)          Litigation.
As of the Closing Date, there shall be no actions, suits or proceedings pending or, to the best knowledge of the Borrower, threatened
(i) with respect to this Agreement or any other Loan Document or (ii) which could reasonably be expected to have a Material
Adverse Effect.

 

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(g)          Miscellaneous.

 

(i)          Proceedings
and Documents. All Loan Documents, opinions, certificates and other instruments and all proceedings in connection with the
transactions contemplated by this Agreement shall be reasonably satisfactory in form and substance to the Administrative Agent.

 

(ii)         Accuracy
and Completeness of Information. All Information taken as an entirety made available to the Administrative Agent and/or the
Lenders by the Borrower or any of their representatives in connection with the transactions contemplated hereby is and will be
complete and correct in all material respects as of the date made available to the Administrative Agent and/or the Lenders and
does not and will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements
contained therein not misleading.

 

Without limiting the
generality of the provisions of the last paragraph of Section 9.04, for purposes of determining compliance with the conditions
specified in this Section 4.01, each Lender that has signed this Agreement shall be deemed to have consented to, approved
or accepted or to be satisfied with, each document or other matter required thereunder to be consented to or approved by or acceptable
or satisfactory to a Lender unless the Administrative Agent shall have received notice from such Lender prior to the proposed Closing
Date specifying its objection thereto.

 

4.02         Conditions
to all Credit Extensions. The obligation of each Lender to make any Credit Extension hereunder (including the initial Credit
Extension to be made hereunder) is subject to the satisfaction of the following conditions precedent on the relevant borrowing
or issue date, as applicable:

 

(a)          Continuation
of Representations and Warranties. The representations and warranties contained in Article V (excluding Section 5.01(n))
shall be true and correct in all material respects on and as of such borrowing or issuance date with the same effect as if made
on and as of such date, except for any representation and warranty made as of an earlier date, which representation and warranty
shall remain true and correct in all material respects as of such earlier date.

 

(b)          No
Existing Default. No Default or Event of Default shall have occurred and be continuing hereunder on the date of such Credit
Extension, both before and after giving effect to the Loans to be made on such date and/or the Letters of Credit to be issued on
such date.

 

(c)          Notice
of Revolving Credit Borrowing. To the extent applicable, the Administrative Agent shall have received a Committed Loan Notice
and/or Swing Line Loan Notice from the Borrower in accordance with Section 2.02(a).

 

The occurrence of the
Closing Date and the acceptance by the Borrower of the benefits of each Credit Extension hereunder shall constitute a representation
and warranty by the Borrower to the Administrative Agent and each of the Lenders that all the conditions specified in Sections
4.01 and 4.02 and applicable to such borrowing have been satisfied as of that time or waived in writing by the Lenders.
All of the Notes, certificates, legal opinions and other documents and papers referred to in Sections 4.01 and 4.02,
unless otherwise specified, shall be delivered to the Administrative Agent for the benefit of each of the Lenders and, except for
the Notes, in sufficient counterparts or copies for each of the Lenders and shall be in form and substance reasonably satisfactory
to the Administrative Agent.

 

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ARTICLE
V.

REPRESENTATIONS AND WARRANTIES

 

5.01         Representations
and Warranties. To induce the Administrative Agent and Lenders to enter into this Agreement and to induce the Lenders to make
Credit Extensions, the Borrower hereby represents and warrants to the Administrative Agent and Lenders that:

 

(a)          Organization;
Power; Qualification. Each of the Borrower and its Subsidiaries (other than inactive Subsidiaries which are not Material Subsidiaries)
is duly organized, validly existing and in good standing or active status, as applicable under the laws of the jurisdiction of
its incorporation or formation, has the power and authority to own its properties and to carry on its business as now being and
hereafter proposed to be conducted and is duly qualified and authorized to do business in each jurisdiction in which the character
of its properties or the nature of its business requires such qualification and authorization, except where the failure to do so
could not reasonably be expected to have a Material Adverse Effect.

 

(b)          Ownership.
Each Subsidiary of the Borrower as of the Closing Date is listed on Schedule 5.01(b).

 

(c)          Authorization
of Agreement, Loan Documents and Borrowing. Each of the Borrower and its Subsidiaries has the right, power and authority and
has taken all necessary corporate and other action to authorize the execution, delivery and performance of each of the Loan Documents
to which it is a party in accordance with its respective terms. Each of the Loan Documents has been duly executed and delivered
by the duly authorized officers of the Borrower and its Subsidiaries party thereto, as applicable, and each such document constitutes
the legal, valid and binding obligation of the Borrower and, if applicable, each of its Subsidiaries party thereto, enforceable
in accordance with its terms, except as such enforcement may be limited by bankruptcy, insolvency, reorganization, moratorium or
similar state or federal debtor relief laws from time to time in effect which affect the enforcement of creditors’ rights
in general and the availability of equitable remedies.

 

(d)          Compliance
of Agreement, Loan Documents and Borrowing with Laws, Etc. The execution, delivery and performance by the Borrower and its
Subsidiaries of the Loan Documents to which each such Person is a party, in accordance with their respective terms, the borrowings
hereunder and the transactions contemplated hereby do not and will not, by the passage of time, the giving of notice or otherwise,
(i) require the Borrower or any of its Subsidiaries to obtain any Governmental Approval or approval of any other Person not
otherwise already obtained or violate any applicable Law relating to the Borrower or any of its Subsidiaries, (ii) conflict
with, result in a breach of or constitute a default under the articles of incorporation, bylaws or other organization documents
of the Borrower or any of its Subsidiaries or any indenture or other material agreement or instrument to which such Person is a
party or by which any of its properties may be bound or any Governmental Approval relating to such Person except as could not reasonably
be expected to have a Material Adverse Effect, or (iii) result in or require the creation or imposition of any material Lien
(other than a Lien permitted under Section 8.02) upon or with respect to any property now owned or hereafter acquired by
such Person.

 

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(e)          Compliance
with Law; Governmental Approvals. Each of the Borrower and its Subsidiaries (i) has all Governmental Approvals required
by any applicable Law for it to conduct its business, each of which is in full force and effect, is final and not subject to review
on appeal and is not the subject of any pending or, to the best of the Borrower’s knowledge, threatened attack by direct
or collateral proceeding, except where the failure to have such Governmental Approval could not reasonably be expected to have
a Material Adverse Effect, and (ii) is in compliance with each Governmental Approval applicable to it and in compliance with
all other applicable Laws relating to it or any of its respective properties; in each case, except where the failure to do so could
not reasonably be expected to have a Material Adverse Effect.

 

(f)          Tax
Returns and Payments. Each of the Borrower and its Subsidiaries has timely filed or caused to be filed all federal and state,
provincial, local and other tax returns required by applicable Law to be filed, and has paid, or made adequate provision for the
payment of, all federal and state, provincial, local and other taxes, assessments and governmental charges or levies upon it and
its property, income, profits and assets which are due and payable, except taxes (i) that are being contested in good faith
by appropriate proceedings and for which the Borrower or Subsidiary, as applicable, has set aside on its books adequate reserves
or (ii) to the extent the failure to do so could not reasonably be expected to have a Material Adverse Effect. No Governmental
Authority has asserted any material Lien or other claim against the Borrower or any Subsidiary thereof with respect to unpaid taxes
which has not been discharged or resolved. The charges, accruals and reserves on the books of the Borrower and any of its Subsidiaries
in respect of federal and all material state, provincial, local and other taxes are, in the judgment of the Borrower, adequate,
and the Borrower does not anticipate any material additional taxes or assessments for any of the periods reflected on such books.

 

(g)          Intellectual
Property Matters. Each of the Borrower and its Subsidiaries owns or possesses rights to use all franchises, licenses, copyrights,
copyright applications, patents, patent rights or licenses, patent applications, trademarks, trademark rights, trade names, trade
name rights, copyrights and rights with respect to the foregoing which are required to conduct its business except where the failure
to do so could not reasonably be expected to have a Material Adverse Effect. No event has occurred which, to the knowledge of the
Borrower, permits, or after notice or lapse of time or both would permit, the revocation or termination of any such rights, and,
to the knowledge of the Borrower, neither the Borrower nor any Subsidiary thereof is liable to any Person for infringement under
applicable Law with respect to any such rights as a result of its business operations, except as could not reasonably be expected
to have a Material Adverse Effect.

 

(h)          Environmental
Matters. Except as set forth on Schedule 5.01(h) (and only to the extent described therein) or as could not reasonably
be expected to have a Material Adverse Effect:

 

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(i)          The
properties of the Borrower and its Subsidiaries (including soils, surface waters, groundwaters on, at or under such properties)
do not contain and are not otherwise affected by, and, to the Borrower’s knowledge, have not previously contained or been
affected by, any Hazardous Materials in amounts or concentrations which (A) constitute or constituted a violation of applicable
Environmental Laws or (B) could give rise to liability or obligation under applicable Environmental Laws;

 

(ii)         The
properties of the Borrower and its Subsidiaries and all operations conducted in connection therewith are in compliance, and have
been in compliance, with all applicable Environmental Laws, and there are no Hazardous Materials at, under or about such properties
or such operations which could reasonably be expected to interfere with the continued operation of such properties;

 

(iii)        The
Borrower and its Subsidiaries have obtained, are in compliance with, and have made all appropriate filings for issuance or renewal
of, all permits, licenses, and other governmental consents required by applicable Environmental Laws (“Environmental Permits”),
and all such Environmental Permits are in full force and effect;

 

(iv)        Neither
the Borrower nor any Subsidiary thereof has received any notice of violation, alleged violation, non-compliance, liability or potential
liability regarding environmental matters or compliance with Environmental Laws, nor does the Borrower have knowledge or reason
to believe that any such notice will be received or is being threatened;

 

(v)         To
the knowledge of the Borrower, Hazardous Materials have not been transported or disposed of from the properties of the Borrower
or any of its Subsidiaries in violation of, or in a manner or to a location which could reasonably be expected to give rise to
liability under, Environmental Laws, nor, to the knowledge of the Borrower, have any Hazardous Materials been generated, treated,
stored or disposed of at, on or under any of such properties in violation of, or in a manner which could reasonably be expected
to give rise to liability under, any Environmental Laws;

 

(vi)        No
judicial proceedings or governmental or administrative action is pending, or, to the knowledge of the Borrower, threatened, under
any Environmental Law to which any of the Borrower or any Subsidiary thereof has been or will be named as a party, nor are there
any consent decrees or other decrees, consent orders, administrative orders or other orders, or other administrative or judicial
requirements outstanding under any Environmental Law with respect to the properties or operations of the Borrower and its Subsidiaries;
and

 

(vii)       To
the knowledge of the Borrower, there has been no release, or threat of release, of Hazardous Materials at or from the properties
of the Borrower or any of its Subsidiaries, in violation of or in amounts or in a manner that could reasonably be expected to give
rise to liability under Environmental Laws.

 

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(i)          ERISA
Compliance. The Borrower hereby represents and warrants to the Administrative Agent and Lenders as follows:

 

(i)          Each
Plan is in compliance in all material respects with the applicable provisions of ERISA, the Code and other Federal or state laws,
except where the failure to so comply could not reasonably be expected to have a Material Adverse Effect. Each Pension Plan that
is intended to be a qualified plan under Section 401(a) of the Code has received a favorable determination letter from the Internal
Revenue Service to the effect that the form of such Plan is qualified under Section 401(a) of the Code and the trust related thereto
has been determined by the Internal Revenue Service to be exempt from federal income tax under Section 501(a) of the Code, or an
application for such a letter is currently being processed by the Internal Revenue Service. To the best knowledge of the Borrower,
nothing has occurred that would prevent or cause the loss of such tax-qualified status, except where the failure to maintain such
tax-qualified status could not reasonably be expected to have a Material Adverse Effect.

 

(ii)         There
are no pending or, to the best knowledge of the Borrower, threatened claims, actions or lawsuits, or action by any Governmental
Authority, with respect to any Plan that could reasonably be expected to have a Material Adverse Effect. There has been no prohibited
transaction or violation of the fiduciary responsibility rules with respect to any Plan that has resulted or could reasonably be
expected to result in a Material Adverse Effect.

 

(iii)        (A)
No ERISA Event has occurred, and neither the Borrower nor any ERISA Affiliate is aware of any fact, event or circumstance that
could reasonably be expected to constitute or result in an ERISA Event with respect to any Pension Plan; (B) the Borrower and each
ERISA Affiliate has met all applicable requirements under the Pension Funding Rules in respect of each Pension Plan, and no waiver
of the minimum funding standards under the Pension Funding Rules has been applied for or obtained; (C) as of the most recent valuation
date for any Pension Plan, the funding target attainment percentage (as defined in Section 430(d)(2) of the Code) is 60% or higher
and neither the Borrower nor any ERISA Affiliate knows of any facts or circumstances that could reasonably be expected to cause
the funding target attainment percentage for any such plan to drop below 60% as of the most recent valuation date; and (D) neither
the Borrower nor any ERISA Affiliate has engaged in a transaction that could be subject to Section 4069 or Section 4212(c) of ERISA;
in each case under the immediately preceding clauses (A) through (D), except for such events and circumstances, failures
to comply, facts and circumstances, liabilities, transactions and terminations which could not reasonably be expected to have a
Material Adverse Effect.

 

(iv)        Neither
the Borrower or any ERISA Affiliate has any unsatisfied obligation to contribute to, or liability under, any active or terminated
Pension Plan, except for such unsatisfied contribution obligations or liabilities which could not reasonably be expected to have
a Material Adverse Effect.

 

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(j)          Margin
Stock. Neither the Borrower nor any Subsidiary thereof is engaged principally or as one of its material activities in the business
of extending credit for the purpose of ‘‘purchasing’’ or “carrying” any ‘‘margin
stock’’ (as each such term is defined or used in Regulation U of the Board of Governors of the Federal Reserve System).
No part of the proceeds of any of the Loans or Letters of Credit will be used for purchasing or carrying margin stock, unless the
Borrower shall have given the Administrative Agent and Lenders prior notice of such event and such other information as is reasonably
necessary to permit the Administrative Agent and Lenders to comply, in a timely fashion, with all reporting obligations required
by applicable Law, or for any purpose which violates, or which would be inconsistent with, the provisions of Regulation T, U or
X of such Board of Governors.

 

(k)          Government
Regulation. The Borrower hereby represents and warrants to the Administrative Agent and Lenders that neither the Borrower nor
any Subsidiary thereof is an “investment company” or a company “controlled” by an “investment company”
(as each such term is defined or used in the Investment Company Act of 1940, as amended) and neither the Borrower nor any Subsidiary
thereof is, or after giving effect to any Credit Extension will be, subject to regulation under the Interstate Commerce Act, each
as amended.

 

(l)          Burdensome
Provisions. Neither the Borrower nor any Subsidiary thereof is a party to any indenture, agreement (excluding the CSC Agreement
and the CSC Put), lease or other instrument, or subject to any corporate or partnership restriction, Governmental Approval or applicable
Law which is so unusual or burdensome that in the foreseeable future it could be reasonably expected to have a Material Adverse
Affect. The Borrower and its Subsidiaries do not presently anticipate that their future expenditures needed to meet the provisions
of any statutes, orders, rules or regulations of a Governmental Authority will be so burdensome as to have a Material Adverse Effect.

 

(m)          Financial
Statements; Financial Condition: Etc. The financial statements delivered to the Lenders pursuant to Section 4.01(e)(i)
and, if applicable, Section 6.01, copies of which have been furnished to the Administrative Agent and each Lender, have
been prepared in accordance with GAAP (except, in the case of unaudited financial statements, for the absence of footnotes and
subject to normal year end adjustments), are complete in all material respects and fairly present in all material respects the
assets, liabilities and financial position of the Borrower and its Subsidiaries as at such dates, and the results of the operations
and changes of financial position for the periods then ended, subject, in the case of unaudited financial statements, to the absence
of footnotes and normal year end adjustments.

 

(n)          No
Material Adverse Effect. Since December 31, 2011, there has been no Material Adverse Effect.

 

(o)          Liens.
None of the properties and assets of the Borrower or any Subsidiary thereof is subject to any Lien, except Liens permitted pursuant
to Section 8.02.

 

(p)          Debt
and Support Obligations. Schedule 5.01(p) is a complete and correct listing of all Debt and Support Obligations of the
Borrower and its Subsidiaries as of the Closing Date.

 

(q)          Litigation.
There are no actions, suits or proceedings pending nor, to the knowledge of the Borrower, threatened against or affecting the Borrower
or any Subsidiary thereof or any of their respective properties in any court or before any arbitrator of any kind or before or
by any Governmental Authority, which could reasonably be expected to have a Material Adverse Effect.

 

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(r)          Absence
of Defaults. No event has occurred and is continuing which constitutes a Default or an Event of Default.

 

(s)          Absence
of Bankruptcy Events. Since December 31, 2011, no event has occurred and is continuing which constitutes a Bankruptcy Event,
other than Bankruptcy Events affecting Subsidiaries which are not Material Subsidiaries.

 

(t)          Accuracy
and Completeness of Information. As of the Closing Date, the Borrower has disclosed to the Lenders all agreements, instruments
and corporate or other restrictions to which its or any of its Subsidiaries are subject, and all other matters known to the Borrower,
other than general market, economic and industry conditions, that, individually or in the aggregate, could reasonably be expected
to have a Material Adverse Effect. The written information, taken as a whole, furnished by or on behalf of the Borrower to the
Administrative Agent or any Lender in connection with the negotiation of this Agreement or delivered hereunder (as modified or
supplemented by other information so furnished) does not contain any material misstatement of fact or omit to state any material
fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading; provided
that, with respect to any projected financial information, the Borrower represents only that such information was prepared in good
faith based upon assumptions believed to be reasonable at the time.

 

(u)          Property.
The Borrower and its Subsidiaries have good and marketable title to all material Property owned by them and valid leasehold interests
in all material Property leased by them (except as permitted by the terms of this Agreement), free and clear of all Liens, except
for Liens permitted pursuant to Section 8.02.

 

(v)         Labor
Practices. Neither the Borrower nor any Subsidiary thereof is engaged in any unfair labor practices that could reasonably be
expected to have a Material Adverse Effect. There is (i) no unfair labor practice complaint pending against the Borrower or
any Subsidiary thereof, to the knowledge of the Borrower, threatened against the Borrower or any Subsidiary thereof, before the
National Labor Relations Board, and no grievance or arbitration proceeding arising out of or under any collective bargaining agreement
is so pending against the Borrower or any Subsidiary thereof or, to the knowledge of the Borrower, threatened against the Borrower
or any Subsidiary thereof, (ii) no strike, labor dispute, slowdown or stoppage pending against the Borrower or any Subsidiary
thereof or, to the knowledge of the Borrower, threatened against the Borrower or any Subsidiary thereof, and (iii) no union
representation question exists with respect to the employees of the Borrower or any Subsidiary thereof, except (with respect to
any matter specified in clause (i), (ii) or (iii) above, either individually or in the aggregate)
such as could not reasonably be expected to have a Material Adverse Effect.

 

(w)          Subordinated
Debt. Neither the Borrower nor its Subsidiaries has any Debt that is subordinated to any other Debt (except for any subordinated
loans made or deemed made by the seller of any account receivables and related property to the purchaser of such receivables and
related property in connection with the Permitted Securitization Transaction in order to fund all or a portion of the purchase
price for such receivables and related property which are transferred as part of the Permitted Securitization Transaction), unless
such subordinated debt is subordinated in right of payment to the Obligations.

 

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(x)          Foreign
Assets Control Regulations, etc. The Borrower hereby represents and warrants to the Administrative Agent and Lenders that neither
the making of any Loan nor the use of the proceeds thereof nor the issuance of any Letter of Credit will violate (a) the Trading
with the Enemy Act, as amended, or any of the foreign assets control regulations of the United States Treasury Department (31 CFR,
Subtitle B, Chapter V, as amended) or any enabling legislation or executive order relating thereto, (b) the Act or (c) Executive
Order No. 13,224, 66 Fed. Reg. 49,079 (2001), issued by the President of the United States (Executive Order Blocking Property and
Prohibiting Transactions with Persons Who Commit, Threaten to Commit or Support Terrorism). Without limiting the foregoing, the
Borrower hereby represents and warrants to the Administrative Agent and Lenders that neither the Borrower nor any of its Subsidiaries
is a “blocked person” as described in Section 1 of such Executive Order or engages in any dealings or transactions
with, or is otherwise associated with, any such blocked person.

 

5.02         Survival
of Representations and Warranties, Etc. All representations and warranties set forth in this Article V and all representations
and warranties contained in any certificate related hereto, or any of the Loan Documents (including but not limited to any such
representation or warranty made in or in connection with any amendment thereto) shall constitute representations and warranties
made under this Agreement. All representations and warranties made under this Agreement shall be made or deemed to be made at and
as of the Closing Date (unless expressly relating to any earlier date), shall survive the Closing Date and shall not be waived
by the execution and delivery of this Agreement, any investigation made by or on behalf of the Lenders or any borrowing hereunder.

 

ARTICLE
VI.

FINANCIAL INFORMATION AND NOTICES

 

Until all the Obligations
(other than contingent liabilities not yet due and payable) have been paid and satisfied in full and the Maturity Date has occurred,
unless consent has been obtained in the manner set forth in Section 11.01 hereof, the Borrower will furnish or cause to
be furnished to the Administrative Agent and to the Lenders at their respective addresses as set forth on Schedule 11.02,
or such other office as may be designated by the Administrative Agent and Lenders from time to time:

 

6.01         Financial
Statements, Etc.

 

(a)          Quarterly
Financial Statements. As soon as practicable and in any event within 45 days after the end of each of the first three fiscal
quarters of each Fiscal Year, either (i) a copy of a report on Form 10-Q, or any successor form, and any amendments thereto,
filed by the Borrower with the Securities and Exchange Commission with respect to the immediately preceding fiscal quarter or (ii) an
unaudited Consolidated balance sheet of the Borrower and its Subsidiaries as of the close of such fiscal quarter and unaudited
Consolidated statements of income, stockholders’ equity and cash flows for the fiscal quarter then ended and that portion
of the Fiscal Year then ended, including any notes thereto, all in reasonable detail setting forth in comparative form the corresponding
figures for the corresponding period or periods of (or, in the case of the balance sheet, as of the end of) the preceding Fiscal
Year and prepared by the Borrower in accordance with GAAP and, if applicable, containing disclosure of the effect on the financial
position or results of operations of any change in the application of accounting principles and practices during the period, and
certified by a Responsible Officer of the Borrower to present fairly in all material respects the financial condition of the Borrower
and its Subsidiaries as of their respective dates and the results of operations of the Borrower and its Subsidiaries for the respective
periods then ended, subject to normal year end adjustments and to the absence of footnotes required by GAAP.

 

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(b)          Annual
Financial Statements. As soon as practicable and in any event within 90 days after the end of each Fiscal Year either (i) a
copy of a report on Form 10-K, or any successor form, and any amendments thereto, filed by the Borrower with the Securities and
Exchange Commission with respect to the immediately preceding Fiscal Year or (ii) an audited Consolidated balance sheet of
the Borrower and its Subsidiaries as of the close of such Fiscal Year and audited Consolidated statements of income, stockholders’
equity and cash flows for the Fiscal Year then ended, including the notes thereto, all in reasonable detail setting forth in comparative
form the corresponding figures for the preceding Fiscal Year and prepared by the Borrower and certified by a nationally recognized
independent certified public accounting firm acceptable to the Administrative Agent in accordance with GAAP and, if applicable,
containing disclosure of the effect on the financial position or results of operation of any change in the application of accounting
principles and practices during the year, and accompanied by a report thereon by such certified public accountants that is not
qualified with respect to scope limitations imposed by the Borrower or any of its Subsidiaries or with respect to accounting principles
followed by the Borrower or any of its Subsidiaries not in accordance with GAAP.

 

(c)          The
Borrower hereby acknowledges that (a) subject to Section 11.07, the Administrative Agent and/or any Arranger may, but shall
not be obligated to, make available to the Lenders and the L/C Issuer materials and/or information provided by or on behalf of
the Borrower under the Loan Documents (collectively, “Borrower Materials”) by posting the Borrower Materials
on Debt Domain, IntraLinks, Syndtrak or another similar electronic system (the “Platform”) and (b) certain of
the Lenders may be “public-side” Lenders (i.e., Lenders that do not wish to receive material non-public information
with respect to the Borrower or its securities) (each, a “Public Lender”). The Borrower hereby agrees that so
long as the Borrower is the issuer of any outstanding debt or equity securities that are registered or issued pursuant to a private
offering or is actively contemplating issuing any such securities (w) all Borrower Materials that are to be made available to Public
Lenders shall be clearly and conspicuously marked “PUBLIC” which, at a minimum, shall mean that the word “PUBLIC”
shall appear prominently on the first page thereof; (x) by marking Borrower Materials “PUBLIC,” the Borrower shall
be deemed to have authorized the Administrative Agent, the Arrangers, the L/C Issuer and the Lenders to treat such Borrower Materials
as not containing any material non-public information with respect to the Borrower or its securities for purposes of United States
Federal and state securities laws (provided that to the extent such Borrower Materials constitute Information, they shall
be treated as set forth in Section 11.07); (y) all Borrower Materials marked “PUBLIC” are permitted to be made
available through a portion of the Platform designated “Public Investor;” and (z) the Administrative Agent and the
Arrangers shall be entitled to treat any Borrower Materials that are not marked “PUBLIC” as containing material non-public
information and as being suitable only for posting on a portion of the Platform not designated “Public Investor”; it
being understood that all Borrower Materials shall be subject to Section 11.07.

 

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6.02         Officer’s
Compliance Certificate. At each time financial statements are delivered pursuant to Section 6.01(a) or (b), a
certificate of a Responsible Officer of the Borrower in the form of Exhibit C attached hereto (an “Officer’s
Compliance Certificate”) (a) certifying as to statements consistent with the applicable requirements of the Securities
and Exchange Commission; (b) certifying as to whether there exists a Default or Event of Default on the date of such certificate,
and if a Default or an Event of Default, specifying the details thereof and the action which the Borrower has taken or proposes
to take with respect thereto; and (c) setting forth in reasonable detail calculations demonstrating compliance with the financial
covenant contained in Section 8.01.

 

6.03         Accountants’
Certificate. At each time financial statements are delivered pursuant to Section 6.01(b), a certificate of the independent
public accountants certifying such financial statements addressed to the Administrative Agent for the benefit of the Lenders stating
that in making the examination necessary for the certification of such financial statements, they obtained no knowledge of any
Default or Event of Default or, if such is not the case, specifying such Default or Event of Default and its nature and period
of existence.

 

6.04         Other
Reports.

 

(a)          Promptly
after the filing thereof, a copy of (i) each report or other filing made by the Borrower or any of its Subsidiaries with the
Securities and Exchange Commission and required by the Securities and Exchange Commission to be delivered to the shareholders of
the Borrower or any Subsidiary thereof, (ii) each report made by the Borrower or any Subsidiary thereof to the Securities
and Exchange Commission on Form 8-K and (iii) each final registration statement of the Borrower or any Subsidiary thereof
filed with the Securities and Exchange Commission, except in connection with pension plans and other employee benefit plans; and

 

(b)          Such
other information regarding the operations, business affairs and financial condition of the Borrower and/or any Subsidiary thereof
as the Administrative Agent or any Lender may reasonably request.

 

6.05         Notice
of Litigation and Other Matters. Prompt (but in no event later than (x) with respect to clause (d) below, two Business
Days after a Responsible Officer obtains knowledge thereof or (y) with respect to any other clause below, five (5) Business
Days after a Responsible Officer obtains knowledge thereof) telephonic (confirmed in writing) or written notice of:

 

(a)          the
commencement of all proceedings and investigations by or before any Governmental Authority and all actions and proceedings in any
court or before any arbitrator against or involving the Borrower or any Subsidiary thereof or any of their respective properties,
assets or businesses the potential liability of which in the reasonable judgment of the Borrower could reasonably be expected to
exceed $25,000,000;

 

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(b)          any
notice of any violation received by the Borrower or any Subsidiary thereof from any Governmental Authority including, without limitation,
any notice of violation of Environmental Laws, the potential liability of which in the reasonable judgment of the Borrower in any
such case could reasonably be expected to exceed $25,000,000;

 

(c)          the
occurrence of any Default or an Event of Default; and

 

(d)          the
receipt by the Borrower or any of its Subsidiaries of written notice from CSC or any of its Subsidiaries regarding the exercise
of the CSC Put.

 

6.06         Ratings
Information. The Borrower shall, no later than five Business Days after a Responsible Officer obtains knowledge of any such
change, give notice to the Administrative Agent (by telephone, followed promptly by written notice transmitted by facsimile with
a hand copy sent promptly thereafter) of any change (either expressly or pursuant to a letter from S&P or Moody’s stating
an “implied” rating, excluding in all cases any private indicative ratings that the Borrower may request from time
to time from Moody’s or S&P) in rating by S&P or Moody’s in respect of the Borrower’s non-credit enhanced
senior unsecured long-term debt, together with details thereof, and of any announcement by S&P or Moody’s that its rating
in respect of such non-credit enhanced senior unsecured long-term debt is “under review” or that any such debt rating
has been placed on a “Credit Watch List”® or “watch list” or that any similar action has been taken
by S&P or Moody’s.

 

6.07         Accuracy
of Information. All written information, reports, statements and other papers and data furnished by or on behalf of the Borrower
to the Administrative Agent or any Lender (other than financial forecasts) whether pursuant to this Article VI or any other
provision of this Agreement, shall be, at the time the same is so furnished, true and complete in all material respects.

 

ARTICLE
VII.

AFFIRMATIVE COVENANTS

 

Until all of the Obligations
(other than contingent liabilities not yet due and payable) have been paid and satisfied in full and the Maturity Date has occurred,
unless consent has been obtained in the manner provided for in Section 11.01, the Borrower will, and will cause each of
its Subsidiaries to:

 

7.01         Preservation
of Corporate Existence and Related Matters.

 

(a)          Except
as permitted by Section 8.04 and Section 8.05, preserve and maintain its separate corporate existence and all
rights, franchises, licenses and privileges necessary to the conduct of its business, provided that, subject to compliance
with Section 7.09, nothing in the foregoing shall prevent the Borrower or any Subsidiary from discontinuing any line of
business if (i) no Default or Event of Default exists or would result therefrom, and (ii) with respect to the discontinuance
of a material line of business, the Board of Directors of the Borrower determines in good faith that such discontinuance is in
the best interest of the Borrower and its Consolidated Subsidiaries, taken as a whole.

 

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(b)          Qualify
and remain qualified as a foreign corporation and authorized to do business in each jurisdiction where the nature and scope of
its activities require it to so qualify under applicable Law, except where the failure to so preserve and maintain its existence
and rights or to so qualify could not reasonably be expected to have a Material Adverse Effect.

 

7.02         Maintenance
of Property. Protect and preserve all properties useful in and material to its business, including copyrights, patents, trade
names and trademarks; maintain in good working order and condition all buildings, equipment and other tangible real and personal
property material to the conduct of its business, ordinary wear and tear excepted; and from time to time make or cause to be made
all renewals, replacements and additions to such property necessary for the conduct of its business, so that the business carried
on in connection therewith may be properly and advantageously conducted at all times, except, in each case, where the failure to
do so could not reasonably be expected to have a Material Adverse Effect.

 

7.03         Insurance.
Maintain insurance with financially sound and reputable insurance companies against such risks and in such amounts as are consistent
with past practices and prudent business practice (and in any event consistent with normal industry practice), and as may be required
by applicable Law.

 

7.04         Accounting
Methods and Financial Records. Maintain a system of accounting, and keep such books, records and accounts (which shall be true
and complete in all material respects) as may be required or as may be necessary to permit the preparation of financial statements
in accordance with GAAP and in compliance with the regulations of any Governmental Authority having jurisdiction over it or any
of its properties.

 

7.05         Payment
and Performance of Obligations.

 

(a)          Pay
and perform all of its Obligations under this Agreement and the other Loan Documents.

 

(b)          Pay
and discharge (i) all material taxes, assessments and governmental charges or levies imposed upon it or upon its income or
profits, or upon any properties belonging to it, prior to the date on which penalties attach thereto, and (ii) all other material
indebtedness, obligations and liabilities in accordance with customary trade practices; provided that the Borrower or such
Subsidiary may contest any item described in clause (i) or (ii) of this Section 7.05(b) in good
faith and by proper proceedings so long as adequate reserves are maintained with respect thereto to the extent required by GAAP.

 

(c)          Perform
all of its obligations under the terms of each mortgage, indenture, security agreement, loan agreement or credit agreement and
each other agreement, contract or instrument by which it is bound, except where such non-performances could not, individually or
in the aggregate, reasonably be expected to have a Material Adverse Effect.

 

7.06         Compliance
With Laws and Approvals. Observe and remain in compliance with all applicable Laws and maintain in full force and effect all
Governmental Approvals, in each case applicable to the conduct of its business, except where the failure to observe, comply or
maintain could not reasonably be expected to have a Material Adverse Effect.

 

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7.07         Environmental
Laws. In addition to and without limiting the generality of Section 7.06:

 

(a)          Comply
with, and use commercially reasonable efforts to ensure such compliance by all tenants and subtenants with all applicable Environmental
Laws and obtain and comply with and maintain, and ensure that all tenants and subtenants obtain and comply with and maintain, any
and all licenses, approvals, notifications, registrations or permits required by applicable Environmental Laws, except where the
failure to obtain, comply or maintain could not reasonably be expected to have a Material Adverse Effect;

 

(b)          Conduct
and complete all investigations, studies, sampling and testing, and all remedial, removal and other actions required under Environmental
Laws, and promptly comply with all lawful orders and directives of any Governmental Authority regarding Environmental Laws, except
(i) where the failure to do so could not reasonably be expected to have a Material Adverse Effect or (ii) to the extent
the Borrower or any of its Subsidiaries are contesting, in good faith, any such requirement, order or directive before the appropriate
Governmental Authority so long as adequate reserves are maintained with respect thereto to the extent required by GAAP; and

 

(c)          Defend,
indemnify and hold harmless the Administrative Agent and the Lenders, and their respective parents, Subsidiaries, Affiliates, employees,
agents, officers and directors, from and against any claims, demands, penalties, fines, liabilities, settlements, damages, costs
and expenses of whatever kind or nature known or unknown, contingent or otherwise, arising out of, or in any way relating to the
violation of, noncompliance with or liability under any Environmental Laws applicable to the operations or properties of the Borrower
or such Subsidiaries, or any orders, requirements or demands of Governmental Authorities related thereto, including, without limitation,
reasonable and actual attorney’s and consultant’s fees, investigation and laboratory fees, response costs, court costs
and litigation expenses, except to the extent that any of the foregoing directly result from the gross negligence or willful misconduct
of the party seeking indemnification therefor.

 

7.08         Compliance
with ERISA; ERISA Notices.

 

(a)          Promptly,
and in any event within five (5) Business Days after the Borrower obtains knowledge that an ERISA Event has occurred that could
reasonably be expected to result in a Material Adverse Effect, the Borrower shall deliver or cause to be delivered a written statement
by a Responsible Officer of the Borrower, describing such ERISA Event and any action that is being taken with respect thereto by
the Borrower, or any ERISA Affiliate, and any action taken or threatened by the IRS, Department of Labor, or PBGC. The Borrower
shall (i) promptly and in any event within two (2) Business Days after the filing thereof with the IRS, deliver or cause to be
delivered a copy of each funding waiver request filed with respect to any Pension Plan and all communications received by the Borrower
or, to the best knowledge of the Borrower, any ERISA Affiliate with respect to such request; and (ii) promptly and in any event
within two (2) Business Days after receipt by the Borrower or, to the best knowledge of the Borrower, any ERISA Affiliate, of the
PBGC’s intention to terminate a Pension Plan or to have a trustee appointed to administer a Pension Plan, copies of each
such notice; and

 

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(b)          As
soon as is reasonably practicable upon the Administrative Agent’s reasonable request, the Borrower shall cause to be delivered
to the Administrative Agent each of the following: (i) the most recent determination letter issued by the IRS with respect to each
Plan; (ii) for the three most recent Plan years, annual reports on Form 5500 Series required to be filed with any governmental
agency for each Plan; (iii) all actuarial reports prepared for the last three Plan years for each Plan; (iv) a listing of all Multiemployer
Plans, with the aggregate amount of the most recent annual contributions required to be made by the Borrower or any ERISA Affiliate
to each such plan; (v) any information that has been provided in writing by any Governmental Authority to the Borrower or any ERISA
Affiliate regarding withdrawal liability under any Multiemployer Plan; and (vi) the aggregate amount of the most recent annual
payments made to former employees of the Borrower under any retiree health plan.

 

7.09         Conduct
of Business. Carry on substantially all of its businesses in substantially the same fields as the businesses conducted on the
Closing Date and in lines of business reasonably related thereto or as otherwise permitted pursuant to the terms of this Agreement.
Additionally, the Permitted Securitization Subsidiary may carry on activities necessary or incidental to the acquisition of accounts
receivable and related rights from the Borrower and the financing of such accounts receivable and related rights.

 

7.10         Visits
and Inspections. Subject to compliance with applicable securities laws, permit representatives of the Administrative Agent
or any Lender, from time to time upon reasonable prior written notice to the Borrower and during ordinary business hours, to visit
and inspect its properties; inspect and make extracts from its books, records and files, including, but not limited to, management
letters prepared by independent accountants; and discuss with its principal officers, and its independent accountants, its business,
assets, liabilities, financial condition, results of operations and business prospects. Notwithstanding the foregoing, neither
the Administrative Agent nor the L/C Issuer or any other Lender shall have the right to inspect or make or receive copies of any
customer data files or any other credit information or files concerning consumers owned or maintained by the Borrower or any of
its Subsidiaries.

 

7.11         Use
of Proceeds. Use the proceeds of the Credit Extensions for working capital, for capital expenditures, to refinance existing
Debt of the Borrower and its Subsidiaries, to finance non-hostile acquisitions by the Borrower and its Subsidiaries that are permitted
hereunder, and for other lawful general corporation purposes of the Borrower and its Subsidiaries. No part of the proceeds of any
Loan will be used, whether directly or indirectly, for any purpose that would violate any rule or regulation of the Board of Governors
of the Federal Reserve System, including Regulations T, U or X. All Letters of Credit will be used for general corporate purposes.

 

ARTICLE
VIII.

NEGATIVE COVENANTS

 

Until all of the Obligations
(other than contingent liabilities not yet due and payable) have been paid and satisfied in full and the Maturity Date has occurred,
unless consent has been obtained in the manner set forth in Section 11.01:

 

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8.01         Maximum
Leverage Ratio. As of the end of each fiscal quarter, commencing with the end of the first fiscal quarter ending after the
Closing Date, the Borrower will not permit the Leverage Ratio to be greater than 3.50 to 1.00.

 

8.02         Liens.
The Borrower will not, nor will it permit any of its Subsidiaries to, create, incur, assume or suffer to exist any Lien on, or
with respect to, any of its assets or properties (including without limitation shares of Capital Stock or other ownership interests
owned by it), real or personal, whether now owned or hereafter acquired, except:

 

(a)          Liens
existing on the Closing Date and set forth on Schedule 8.02;

 

(b)          Liens
for taxes, assessments and other governmental charges or levies not yet due or as to which the period of grace, if any, related
thereto has not expired or which are being contested in good faith and by appropriate proceedings if adequate reserves are maintained
to the extent required by GAAP;

 

(c)          Liens
of materialmen, mechanics, carriers, warehousemen, processors or landlords for labor, materials, supplies or rentals and other
similar Liens imposed by law so long as such Liens secure claims incurred in the ordinary course of business, (i) which are
not overdue for a period of more than thirty (30) days or (ii) which are being contested in good faith and by appropriate
proceedings if adequate reserves are maintained to the extent required by GAAP;

 

(d)          Liens
consisting of deposits or pledges made in the ordinary course of business (i) in connection with, or to secure payment of,
obligations under workers’ compensation, unemployment insurance or similar legislation or obligations under customer service
contracts or (ii) to secure the performance of letters of credit, bids, tenders, sales, contracts, leases, statutory obligations,
surety, appeal and performance bonds and other similar obligations incurred in the ordinary course of business, in each case not
incurred in connection with the borrowing of money or the payment of the deferred purchase price of property;

 

(e)          Liens
constituting encumbrances in the nature of zoning restrictions, easements, rights of way, and other rights or restrictions of record
on the use of real property, which in the aggregate are not substantial in amount and which do not, in any case, materially detract
from the value of any material parcel of real property or impair the use thereof in the ordinary conduct of business;

 

(f)          Liens
in favor of the Administrative Agent for the benefit of the Administrative Agent and the Lenders;

 

(g)          Liens
on the property or assets of any Subsidiary existing at the time such Subsidiary becomes a Subsidiary of the Borrower and not incurred
in contemplation thereof, as long as the outstanding principal amount of the Debt secured thereby is not voluntarily increased
by such Subsidiary after the date such Subsidiary becomes a Subsidiary of the Borrower;

 

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(h)          Liens
on the property or assets of the Borrower or any Subsidiary securing Debt which is incurred to finance or refinance the acquisition
of such property or assets; provided that (i) each such Lien shall be created substantially simultaneously with the
acquisition of the related property or assets; (ii) each such Lien does not at any time encumber any property other than the
related property or assets financed by such Debt and the proceeds thereof; (iii) the principal amount of Debt secured by each
such Lien is not increased; and (iv) the principal amount of Debt secured by each such Lien (together with any accrued interest
thereon and closing costs relating thereto) shall at no time exceed 100% of the original purchase price of such related property
or assets at the time acquired;

 

(i)          Liens
consisting of judgment or judicial attachment Liens; provided that (i) the claims giving rise to such Liens are being
diligently contested in good faith by appropriate proceedings; (ii) adequate reserves for the obligations secured by such
Liens have been established and (iii) enforcement of such Liens has been stayed;

 

(j)          Liens
(if any) against the Borrower or any Consolidated Subsidiary which is created solely to evidence (i) the transfer of any receivables
and related property by the Borrower and certain of its Subsidiaries as originators under any Permitted Securitization Transaction
to another direct or indirect Subsidiary of the Borrower, as purchaser, pursuant to any Permitted Securitization Transaction, (ii) the
transfer of any receivables and related property from the purchaser referred to in the immediately preceding clause (i)
to any Permitted Securitization Subsidiary pursuant to any Permitted Securitization Transaction, and (iii) any back-up Lien
granted by the purchaser referred to in the immediately preceding clause (i) and the Permitted Securitization Subsidiary,
in each case solely in any receivables and related property being transferred pursuant to the Permitted Securitization Transaction;

 

(k)          any
Lien against a Permitted Securitization Subsidiary pursuant to any Permitted Securitization Transaction;

 

(l)          any
Lien on any specific fixed asset of any corporation existing at the time such corporation is merged or consolidated with or into
the Borrower or a Consolidated Subsidiary and not created in contemplation of such event;

 

(m)          any
Lien arising out of the refinancing, extension, renewal or refunding of any Debt secured by any Lien permitted by any of the foregoing
paragraphs of this Section; provided that (i) such Debt is not secured by any additional assets, and (ii) the
amount of such Debt (together with any accrued interest thereon and closing costs relating thereto) secured by any such Lien is
not increased;

 

(n)          any
Lien existing on any specific fixed asset prior to the acquisition thereof by the Borrower or a Consolidated Subsidiary and not
created in contemplation of such acquisition;

 

(o)          Liens
securing Debt owing by any Subsidiary to the Borrower or another Wholly Owned Subsidiary;

 

(p)          inchoate
Liens arising under ERISA to secure current service pension liabilities as they are incurred under the provisions of Plans from
time to time in effect;

 

(q)          rights
reserved to or invested in any municipality or governmental, statutory or public authority to control or regulate any property
of the Borrower or such Subsidiary, as the case may be, or to use such property in a manner which does not materially impair the
use of such property for the purposes of which it is held by the Borrower or such Subsidiary, as the case may be; and

 

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(r)          Liens
not otherwise permitted by this Section 8.02 securing Debt or other obligations in an aggregate principal amount at any
time outstanding that does not exceed 20% of Consolidated Net Tangible Assets, measured as of the date of the incurrence of such
Debt or obligation.

 

8.03         Limitations
on Subsidiary Debt. The Borrower will not permit any Subsidiary to contract, create, incur, assume or permit to exist any Debt,
except:

 

(a)          Debt
arising under (i) this Agreement and the other Loan Documents and (ii) the Multi-Year Credit Agreement and any related Loan Documents
(as such term is defined in the Multi-Year Credit Agreement);

 

(b)          Debt
existing as of the Closing Date as referenced on Schedule 5.01(p) (and renewals, refinancings or extensions thereof on terms
and conditions no less favorable in any material respect to such Person than such existing Debt and in a principal amount not in
excess of that outstanding as of the date of such renewal, refinancing or extension);

 

(c)          Capital
Lease obligations and Debt incurred, in each case, to provide all or a portion of the purchase price or costs of construction of
an asset or, in the case of a Sale and Leaseback Transaction, to finance the value of such asset owned by the Borrower or any of
its Subsidiaries; provided that (i) such Debt when incurred shall not exceed the purchase price or cost of construction
of such asset or, in the case of a Sale and Leaseback Transaction, the fair market value of such asset and any transaction costs
directly related thereto, (ii) no such Debt shall be refinanced for a principal amount in excess of the principal balance
outstanding thereon (together with any accrued interest thereon and closing costs relating thereto) at the time of such refinancing,
and (iii) the aggregate principal amount of all such Debt shall not exceed $200,000,000 at any time outstanding;

 

(d)          intercompany
Debt owed by any Subsidiary of the Borrower to the Borrower or any other Subsidiary of the Borrower;

 

(e)          Debt
and Obligations owing under Hedging Agreements relating to the Loans hereunder and other Hedging Agreements entered into in order
to manage existing or anticipated interest rate, exchange rate or commodity price risks and not for speculative purposes;

 

(f)          Debt
in connection with any Permitted Securitization Transaction;

 

(g)          Debt
of the types described in clause (j) of the definition of Debt which is incurred in the ordinary course of business
in connection with (i) the sale or purchase of goods, or (ii) to assure performance by the Borrower or any of its Subsidiaries
of their respective service contracts, operating leases, obligations to a utility or a governmental entity, or worker’s compensation
obligations;

 

(h)          Support
Obligations of Debt of the Borrower or Debt otherwise permitted under this Section 8.03;

 

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(i)          Debt
set forth on Schedule 5.01(p); and

 

(j)          other
Debt of the Subsidiaries at any time outstanding which in the aggregate does not exceed 20% of Consolidated Net Tangible Assets,
measured as of the date of the incurrence of such Debt.

 

8.04         Limitations
on Mergers and Liquidation.. The Borrower will not, nor will it permit any of its Subsidiaries to, merge, consolidate or enter
into any similar combination with any other Person or liquidate, wind-up or dissolve itself (or suffer any liquidation or dissolution),
except:

 

(a)          The
Borrower or a Subsidiary may merge with another Person that is not the Borrower or a Subsidiary; provided that (i) in
the case of any merger involving the Borrower or a Subsidiary that is organized under the laws of the United States or one of its
states, such other Person is organized under the laws of the United States or one of its states, (ii) in the case of any merger
involving the Borrower, the Borrower is the corporation surviving such merger, (iii) in the case of any merger involving a
Subsidiary, the survivor is or will become a Subsidiary of the Borrower, (iv) immediately prior to and after giving effect
to such merger, no Default or Event of Default exists or would exist, (iv) the Board of Directors of such Person has approved
such merger and (v) such transaction is permitted under Section 8.06.

 

(b)          Any
Subsidiary may merge into the Borrower or any Wholly-Owned Subsidiary of the Borrower.

 

(c)          Any
Subsidiary may liquidate, wind-up or dissolve itself into the Borrower or any Wholly-Owned Subsidiary of the Borrower.

 

8.05         Limitation
on Asset Dispositions. The Borrower will not, nor will it permit any of its Subsidiaries to, make any Asset Disposition (including,
without limitation, in connection with any Sale and Leaseback Transaction), in one transaction or a series of transactions, unless
(a) no Default or Event of Default shall exist on the date of, or shall result from, any such transaction (including after
giving effect to such transaction on a pro forma basis); and (b) the assets so disposed of or transferred in connection with all
such Asset Dispositions in any Fiscal Year did not contribute, in the aggregate, more than 20% of Consolidated Operating Profit
for the immediately preceding Fiscal Year.

 

8.06         Limitations
on Acquisitions. Other than transactions permitted under Section 8.07, the Borrower will not, nor will it permit
any of its Subsidiaries to, acquire all or any portion of the Capital Stock or other ownership interest in any Person which is
not a Subsidiary or all or any substantial portion of the assets, property and/or operations of a Person which is not a Subsidiary,
unless (a) the Person, assets, property and/or operations being acquired operate in substantially the same or a similar
line of business as any line of business engaged in by the Borrower or any of its Subsidiaries on the Closing Date or a business
reasonably related thereto, including ancillary or complementary businesses; (b) in the case of an acquisition of Capital
Stock or other ownership interest of a Person, the Board of Directors of the Person which is the subject of such acquisition shall
have approved the acquisition; (c) no Default or Event of Default shall exist on the date of, or shall result from, any such
acquisition (including after giving effect to such transaction on a pro forma basis); and (d) in the case of the acquisition of
all or any portion of the Capital Stock or other ownership interest in any Person, such Person so acquired will be Consolidated
with the Borrower in its financial statements upon the consummation of such acquisition.

 

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8.07         Limitation
on Restricted Investments. The Borrower will not, nor will it permit any of its Subsidiaries to, make any Restricted Investment
unless, after giving effect thereto, the aggregate amount of all such Restricted Investments outstanding at any time does not exceed
20% of the Consolidated Total Assets, measured as of the date of the making of such Restricted Investment; provided that
(i) the foregoing shall be tested as at the end of each fiscal quarter, and (ii) no Default or Event of Default shall
have occurred and be continuing both before and after giving effect to any such Restricted Investment.

 

8.08         Limitation
on Restricted Payments. The Borrower will not, nor will it permit any of its Subsidiaries to, directly or indirectly, declare,
order, make or set apart any sum for or pay any Restricted Payment at any time that a Default or Event of Default has occurred
and is continuing or would result from such Restricted Payment.

 

8.09         Limitation
on Transactions with Affiliates. Neither the Borrower nor any of its Consolidated Subsidiaries shall enter into, or be a party
to, any transaction with any Affiliate of the Borrower or such Subsidiary (which Affiliate is not the Borrower or a Subsidiary),
except pursuant to the reasonable requirements of its business and upon fair and reasonable terms that are no less favorable to
the Borrower or such Subsidiary than would be obtained in a comparable arm’s length transaction with a Person which is not
an Affiliate.

 

8.10         Limitation
on Certain Accounting Changes. The Borrower will not (a) change its Fiscal Year end in order to avoid a Default or an Event
of Default or if a Material Adverse Effect would result therefrom or (b) make any material change in its accounting treatment and
reporting practices except as required by GAAP.

 

8.11         Limitation
of Restricting Subsidiary Dividends and Distributions. The Borrower will not permit any Subsidiary to agree to, incur, assume
or suffer to exist any restriction, limitation or other encumbrance (by covenant or otherwise) on the ability of such Subsidiary
to make any payment to the Borrower or any of its Subsidiaries (in the form of dividends, intercompany advances or otherwise) or
to transfer any of its properties or assets to the Borrower or any of its Subsidiaries, except:

 

(a)          Restrictions
and limitations applicable to a Subsidiary existing at the time such Subsidiary becomes a Subsidiary of the Borrower and not incurred
in contemplation thereof, as long as no such restriction or limitation is made more restrictive after the date such Subsidiary
becomes a Subsidiary of the Borrower;

 

(b)          Restrictions
and limitations imposed on any Permitted Securitization Subsidiary in connection with a Permitted Securitization Transaction;

 

(c)          Restrictions
and limitations existing pursuant to the Multi-Year Credit Agreement and this Agreement; and

 

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(d)          Other
restrictions and limitations that are not material either individually or in the aggregate.

 

8.12         Hedging
Agreements. The Borrower will not, and will not permit any of its Subsidiaries to, enter into any Hedging Agreement, other
than non-speculative Hedging Agreements entered into in the ordinary course of business in order to manage existing or anticipated
interest rate, foreign exchange rate or commodity price risks.

 

ARTICLE
IX.

EVENTS OF DEFAULT AND REMEDIES

 

9.01         Events
of Default. Each of the following shall constitute an Event of Default, whatever the reason for such event and whether it shall
be voluntary or involuntary or be effected by operation of law or pursuant to any judgment or order of any court or any order,
rule or regulation of any Governmental Authority or otherwise:

 

(a)          Default
in Payment of Principal of Loans and L/C Obligation. The Borrower shall default in any payment of principal of any Loan, Note
or L/C Obligation when and as due (whether at maturity, by reason of acceleration or otherwise).

 

(b)          Other
Payment Default. The Borrower shall default in the payment when and as due (whether at maturity, by reason of acceleration
or otherwise) of any interest, fees or other amounts owing on any Loan, Note or L/C Obligation or the payment of any other Obligation,
and such default shall continue unremedied for five (5) Business Days after the earlier of a Responsible Officer becoming aware
of such default or written notice thereof has been given to the Borrower by the Administrative Agent.

 

(c)          Misrepresentation.
Any representation, warranty or statement made or deemed to be made by the Borrower or any of its Subsidiaries, if applicable,
under this Agreement, any Loan Document or any amendment hereto or thereto or in any certificate delivered to the Administrative
Agent or to any Lender pursuant hereto and thereto, shall at any time prove to have been incorrect or misleading in any material
respect when made or deemed made.

 

(d)          Default
in Performance of Certain Covenants. (i) The Borrower shall default in the performance or observance of any covenant or
agreement contained in Sections 6.05(c), 7.01(a) and 7.11 and Article VIII, or (ii) the Borrower
shall default in the performance or observance of any other covenant or agreement contained in Article VI, and such default
shall continue unremedied for fifteen (15) days after the earlier of a Responsible Officer becoming aware of such default or written
notice thereof has been given to the Borrower by the Administrative Agent.

 

(e)          Default
in Performance of Other Covenants and Conditions. The Borrower or any Subsidiary thereof, if applicable, shall default in the
performance or observance of any term, covenant, condition or agreement contained in this Agreement (other than as specifically
provided for otherwise in this Section 9.01) or any other Loan Document and such default shall continue for a period of
thirty (30) days after the earlier of a Responsible Officer becoming aware of such default or written notice thereof has been given
to the Borrower by the Administrative Agent.

 

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(f)          Hedging
Agreement. Any termination payments in an amount greater than $20,000,000 shall be due by the Borrower under any Hedging Agreement
and such amount is not paid within thirty (30) Business Days of the due date thereof.

 

(g)          Debt
Cross-Default. The Borrower or any of its Material Subsidiaries shall (i) default in the payment of any Debt (other than
Debt under this Agreement, the Notes or any L/C Obligation) the aggregate outstanding amount of which Debt is in excess of $20,000,000,
beyond the period of grace if any, provided in the instrument or agreement under which such Debt was created, or (ii) default
in the observance or performance of any other agreement or condition relating to any Debt (other than Debt under this Agreement,
the Notes or any L/C Obligation), the aggregate outstanding amount of which Debt is in excess of $20,000,000 or contained in any
instrument or agreement evidencing, securing or relating thereto or any other event shall occur or condition exist, the effect
of which default or other event or condition is to cause, or to permit the holder or holders of such Debt (or a trustee or agent
on behalf of such holder or holders) to cause, with the giving of notice if required, any such Debt to become due prior to its
stated maturity (any such notice having been given and any applicable grace period having expired) or (iii) breach any covenant
imposed upon such Person under any agreement relating to a Permitted Securitization Transaction causing the acceleration of the
obligations thereunder or requiring the prepayment of such obligations or termination of such securitization program prior to its
stated maturity or term and the Borrower or any Consolidated Subsidiary (other than any Permitted Securitization Subsidiary) has
liability in excess of $20,000,000 under such Permitted Securitization Transaction.

 

(h)          Change
in Control. An event described in clause (i), (ii) or (iii) below shall have occurred:
(i) during any period of 12 consecutive months, individuals who at the beginning of such period constituted the board of directors
of the Borrower (together with any new directors whose election by such board or whose nomination for election by the shareholders
of the Borrower was approved by a vote of a majority of the directors then still in office who were either directors at the beginning
of such period or whose election or nomination for election was previously so approved) and who were entitled to vote on such matters,
cease for any reason to constitute a majority of the board of directors of the Borrower then in office, (ii) any person or
group of persons (within the meaning of Section 13(d) of the Securities Exchange Act of 1934, as amended) after the Closing Date
shall obtain ownership or control in one or more series of transactions of more than 25% of the common stock or 25% of the voting
power of the Borrower entitled to vote in the election of members of the board of directors of the Borrower or (iii) there
shall have occurred under any indenture or other instrument evidencing any Debt in excess of $20,000,000 any “change in control”
(as defined in such indenture or other evidence of Debt) obligating the Borrower to repurchase, redeem or repay all or any part
of the Debt provided for therein (any such event, a “Change in Control”).

 

(i)          Voluntary
Bankruptcy Proceeding. The Borrower or any Material Subsidiary thereof shall (i) commence a voluntary case under the federal
bankruptcy laws (as now or hereafter in effect), (ii) file a petition seeking to take advantage of any other laws, domestic
or foreign, relating to bankruptcy, insolvency, reorganization, winding up or composition for adjustment of debts, (iii) consent
to or fail to contest in a timely and appropriate manner any petition filed against it in an involuntary case under such bankruptcy
laws or other laws, (iv) apply for or consent to, or fail to contest in a timely and appropriate manner, the appointment of,
or the taking of possession by, a receiver, custodian, trustee or liquidator of itself or of a substantial part of its property,
domestic or foreign, (v) admit in writing its inability to pay its debts as they become due, (vi) make a general assignment for
the benefit of creditors, or (vii) take any corporate action for the purpose of authorizing any of the foregoing.

 

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(j)          Involuntary
Bankruptcy Proceeding. A case or other proceeding shall be commenced against the Borrower or any Material Subsidiary thereof
in any court of competent jurisdiction seeking (i) relief under the federal bankruptcy laws (as now or hereafter in effect)
or under any other laws, domestic or foreign, relating to bankruptcy, insolvency, reorganization, winding up or composition for
adjustment of debts, or (ii) the appointment of a trustee, receiver, custodian, liquidator or the like for the Borrower or
any Material Subsidiary thereof or for all or any substantial part of their respective assets, domestic or foreign, and such case
or proceeding shall continue without dismissal or stay for a period of 60 consecutive days, or an order granting the relief requested
in such case or proceeding (including, but not limited to, an order for relief under such federal bankruptcy laws) shall be entered.

 

(k)          Enforcement.
A creditor or an encumbrance (other than a judgment or order of the type referred to in clause (l) of this Section
9.01) attaches or takes possession of, or a distress, execution, sequestration or other process is levied or enforced upon
or sued out against, any of the undertakings and assets of the Borrower or any Subsidiary thereof having a value exceeding $10,000,000
and (if capable of discharge) such possession is not terminated or such attachment or process is not satisfied, removed or discharge
within 30 days.

 

(l)          Judgment.
A judgment or order for the payment of money which causes the aggregate amount of all such judgments or orders at any time undischarged
and unstayed as provided for in this paragraph (exclusive of amounts covered by insurance provided by reputable insurers) to exceed
$10,000,000 shall be entered against the Borrower or any Subsidiary thereof by any court and such judgment or order shall continue
without discharge or stay for a period of 30 days.

 

(m)          ERISA.
(i) An ERISA Event occurs with respect to a Pension Plan or Multiemployer Plan which has resulted or could reasonably be expected
to result in liability of the Borrower under Title IV of ERISA to the Pension Plan, Multiemployer Plan or the PBGC that results
in a Material Adverse Effect, or (ii) the Borrower or any ERISA Affiliate fails to pay when due, after the expiration of any applicable
grace period, any installment payment with respect to its withdrawal liability under Section 4201 of ERISA under a Multiemployer
Plan that results in a Material Adverse Effect.

 

9.02         Remedies
Upon Event of Default. If any Event of Default occurs and is continuing, the Administrative Agent shall, at the request of,
or may, with the consent of, the Required Lenders, take any or all of the following actions:

 

(a)          declare
the commitment of each Lender to make Loans and any obligation of the L/C Issuer to make L/C Credit Extensions to be terminated,
whereupon such commitments and obligation shall be terminated;

 

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(b)          declare
the unpaid principal amount of all outstanding Loans, all interest accrued and unpaid thereon, and all other amounts owing or payable
hereunder or under any other Loan Document to be immediately due and payable, without presentment, demand, protest or other notice
of any kind, all of which are hereby expressly waived by the Borrower;

 

(c)          require
that the Borrower Cash Collateralize the L/C Obligations (in an amount equal to the then Outstanding Amount thereof); and

 

(d)          exercise
on behalf of itself, the Lenders and the L/C Issuer all rights and remedies available to it, the Lenders and the L/C Issuer under
the Loan Documents;

 

provided that upon the occurrence
of an Event of Default specified in Section 9.01(i) or (j) with respect to the Borrower, the obligation of each Lender
to make Loans and any obligation of the L/C Issuer to make L/C Credit Extensions shall automatically terminate, the unpaid principal
amount of all outstanding Loans and all interest and other amounts as aforesaid shall automatically become due and payable, and
the obligation of the Borrower to Cash Collateralize the L/C Obligations as aforesaid shall automatically become effective, in
each case without further act of the Administrative Agent or any Lender.

 

9.03         Rights
and Remedies Cumulative; Non-Waiver; etc. The enumeration of the rights and remedies of the Administrative Agent and the Lenders
set forth in this Agreement is not intended to be exhaustive and the exercise by the Administrative Agent and the Lenders of any
right or remedy shall not preclude the exercise of any other rights or remedies, all of which shall be cumulative, and shall be
in addition to any other right or remedy given hereunder or under the Loan Documents or that may now or hereafter exist in law
or in equity or by suit or otherwise. No delay or failure to take action on the part of the Administrative Agent or any Lender
in exercising any right, power or privilege shall operate as a waiver thereof, nor shall any single or partial exercise of any
such right, power or privilege preclude other or further exercise thereof or the exercise of any other right, power or privilege
or shall be construed to be a waiver of any Event of Default. No course of dealing between the Borrower, the Administrative Agent
and the Lenders or their respective agents or employees shall be effective to change, modify or discharge any provision of this
Agreement or any of the other Loan Documents or to constitute a waiver of any Event of Default.

 

9.04         Application
of Funds. After the exercise of remedies provided for in Section 9.02 (or after the Loans have automatically become
immediately due and payable and the L/C Obligations have automatically been required to be Cash Collateralized as set forth in
the proviso to Section 9.02), any amounts received on account of the Obligations shall, subject to the provisions of Sections
2.14 and 2.15, be applied by the Administrative Agent in the following order:

 

First, to payment
of that portion of the Obligations constituting fees, indemnities, expenses and other amounts (including fees, charges and disbursements
of counsel to the Administrative Agent and amounts payable under Article III) payable to the Administrative Agent in its
capacity as such;

 

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Second, to payment
of that portion of the Obligations constituting fees, indemnities and other amounts (other than principal, interest and Letter
of Credit Fees) payable to the Lenders and the L/C Issuer (including fees, charges and disbursements of counsel to the respective
Lenders and the L/C Issuer and amounts payable under Article III), ratably among them in proportion to the respective amounts
described in this clause Second payable to them;

 

Third, to payment
of that portion of the Obligations constituting accrued and unpaid Letter of Credit Fees and interest on the Loans, L/C Borrowings
and other Obligations, ratably among the Lenders and the L/C Issuer in proportion to the respective amounts described in this clause
Third payable to them;

 

Fourth, to payment
of that portion of the Obligations constituting unpaid principal of the Loans and L/C Borrowings, ratably among the Lenders and
the L/C Issuer in proportion to the respective amounts described in this clause Fourth held by them;

 

Fifth, to the
Administrative Agent for the account of the L/C Issuer, to Cash Collateralize that portion of L/C Obligations comprised of the
aggregate undrawn amount of Letters of Credit to the extent not otherwise Cash Collateralized by the Borrower pursuant to Sections
2.03 and 2.14; and

 

Last, the balance,
if any, after all of the Obligations have been indefeasibly paid in full, to the Borrower or as otherwise required by Law.

 

Subject to Sections 2.03(c) and
2.14, amounts used to Cash Collateralize the aggregate undrawn amount of Letters of Credit pursuant to clause Fifth
above shall be applied to satisfy drawings under such Letters of Credit as they occur. If any amount remains on deposit as Cash
Collateral after all Letters of Credit have either been fully drawn or expired, such remaining amount shall be applied to the other
Obligations, if any, in the order set forth above.

 

ARTICLE
X.

ADMINISTRATIVE AGENT

 

10.01         Appointment
and Authority. Each of the Lenders and the L/C Issuer hereby irrevocably appoints Bank of America to act on its behalf as the
Administrative Agent hereunder and under the other Loan Documents and authorizes the Administrative Agent to take such actions
on its behalf and to exercise such powers as are delegated to the Administrative Agent by the terms hereof or thereof, together
with such actions and powers as are reasonably incidental thereto. The provisions of this Article are solely for the benefit of
the Administrative Agent, the Lenders and the L/C Issuer, and the Borrower shall have no rights
as a third party beneficiary of any of such provisions. It is understood and agreed that the use of the term “agent”
herein or in any other Loan Documents (or any other similar term) with reference to the Administrative Agent is not intended to
connote any fiduciary or other implied (or express) obligations arising under agency doctrine of any applicable Law. Instead such
term is used as a matter of market custom, and is intended to create or reflect only an administrative relationship between contracting
parties.

 

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10.02         Rights
as a Lender. The Person serving as the Administrative Agent hereunder shall have the same rights and powers in its capacity
as a Lender as any other Lender and may exercise the same as though it were not the Administrative Agent and the term “Lender”
or “Lenders” shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person
serving as the Administrative Agent hereunder in its individual capacity. Such Person and its Affiliates may accept deposits from,
lend money to, own securities of, act as the financial advisor or in any other advisory capacity for and generally engage in any
kind of business with the Borrower or any Subsidiary or other Affiliate thereof as if such Person were not the Administrative Agent
hereunder and without any duty to account therefor to the Lenders.

 

10.03         Exculpatory
Provisions. The Administrative Agent shall not have any duties or obligations except those expressly set forth herein and in
the other Loan Documents, and its duties hereunder shall be administrative in nature. Without limiting the generality of the foregoing,
the Administrative Agent:

 

(a)          shall
not be subject to any fiduciary or other implied duties, regardless of whether a Default has occurred and is continuing;

 

(b)          shall
not have any duty to take any discretionary action or exercise any discretionary powers, except discretionary rights and powers
expressly contemplated hereby or by the other Loan Documents that the Administrative Agent is required to exercise as directed
in writing by the Required Lenders (or such other number or percentage of the Lenders as shall be expressly provided for herein
or in the other Loan Documents), provided that the Administrative Agent shall not be required to take any action that, in
its opinion or the opinion of its counsel, may expose the Administrative Agent to liability or that is contrary to any Loan Document
or applicable law, including, for the avoidance of doubt, any action that may be in violation of the automatic stay under any Debtor
Relief Law or that may effect a forfeiture, modification or termination of property of a Defaulting Lender in violation of any
Debtor Relief Law; and

 

(c)          shall
not, except as expressly set forth herein and in the other Loan Documents, have any duty to disclose, and shall not be liable for
the failure to disclose, any information relating to the Borrower or any of its Affiliates that is communicated to or obtained
by the Person serving as the Administrative Agent or any of its Affiliates in any capacity.

 

The Administrative
Agent shall not be liable for any action taken or not taken by it (i) with the consent or at the request of the Required Lenders
(or such other number or percentage of the Lenders as shall be necessary, or as the Administrative Agent shall believe in good
faith shall be necessary, under the circumstances as provided in Sections 11.01 and 9.02) or (ii) in the absence
of its own gross negligence or willful misconduct as determined by a court of competent jurisdiction by final and nonappealable
judgment. The Administrative Agent shall be deemed not to have knowledge of any Default unless and until notice describing such
Default is given to the Administrative Agent by the Borrower, a Lender or the L/C Issuer.

 

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The Administrative
Agent shall not be responsible for or have any duty to ascertain or inquire into (i) any statement, warranty or representation
made in or in connection with this Agreement or any other Loan Document, (ii) the contents of any certificate, report or other
document delivered hereunder or thereunder or in connection herewith or therewith, (iii) the performance or observance of
any of the covenants, agreements or other terms or conditions set forth herein or therein or the occurrence of any Default, (iv)
the validity, enforceability, effectiveness or genuineness of this Agreement, any other Loan Document or any other agreement, instrument
or document or (v) the satisfaction of any condition set forth in Article IV or elsewhere herein, other than to confirm
receipt of items expressly required to be delivered to the Administrative Agent.

 

10.04         Reliance
by Administrative Agent. The Administrative Agent shall be entitled to rely upon, and shall not incur any liability for relying
upon, any notice, request, certificate, consent, statement, instrument, document or other writing (including any electronic message,
Internet or intranet website posting or other distribution) believed by it to be genuine and to have been signed, sent or otherwise
authenticated by the proper Person. The Administrative Agent also may rely upon any statement made to it orally or by telephone
and believed by it to have been made by the proper Person, and shall not incur any liability for relying thereon. In determining
compliance with any condition hereunder to the making of a Loan, or the issuance, extension, renewal or increase of a Letter of
Credit, that by its terms must be fulfilled to the satisfaction of a Lender or the L/C Issuer, the Administrative Agent may presume
that such condition is satisfactory to such Lender or the L/C Issuer unless the Administrative Agent shall have received notice
to the contrary from such Lender or the L/C Issuer prior to the making of such Loan or the issuance of such Letter of Credit. The
Administrative Agent may consult with legal counsel (who may be counsel for the Borrower), independent accountants and other experts
selected by it, and shall not be liable for any action taken or not taken by it in accordance with the advice of any such counsel,
accountants or experts.

 

10.05         Delegation
of Duties. The Administrative Agent may perform any and all of its duties and exercise its rights and powers hereunder or under
any other Loan Document by or through any one or more sub-agents appointed by the Administrative Agent. The Administrative Agent
and any such sub-agent may perform any and all of its duties and exercise its rights and powers by or through their respective
Related Parties. The exculpatory provisions of this Article shall apply to any such sub-agent and to the Related Parties of the
Administrative Agent and any such sub-agent, and shall apply to their respective activities in connection with the syndication
of the credit facilities provided for herein as well as activities as Administrative Agent. The Administrative Agent shall not
be responsible for the negligence or misconduct of any sub-agents except to the extent that a court of competent jurisdiction determines
in a final and non appealable judgment that the Administrative Agent acted with gross negligence or willful misconduct in the selection
of such sub-agents.

 

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10.06         Resignation
of Administrative Agent.

 

(a)          The
Administrative Agent may at any time give notice of its resignation to the Lenders, the L/C Issuer and the Borrower. Upon receipt
of any such notice of resignation, the Required Lenders shall have the right, in consultation with the Borrower and subject to
the approval by the Borrower provided that no Default or Event of Default shall exist at such time, to appoint a successor, which
shall be a bank with an office in the United States, or an Affiliate of any such bank with an office in the United States. If no
such successor shall have been so appointed by the Required Lenders and shall have accepted such appointment within 30 days
after the retiring Administrative Agent gives notice of its resignation, then the retiring Administrative Agent may on behalf of
the Lenders and the L/C Issuer, appoint a successor Administrative Agent meeting the qualifications set forth above; provided
that if the Administrative Agent shall notify the Borrower and the Lenders that no qualifying Person has accepted such appointment,
then such resignation shall nonetheless become effective in accordance with such notice and (1) the retiring Administrative
Agent shall be discharged from its duties and obligations hereunder and under the other Loan Documents (except
that in the case of any collateral security held by the Administrative Agent on behalf of the Lenders or the L/C Issuer under any
of the Loan Documents, the retiring Administrative Agent shall continue to hold such collateral security until such time as a successor
Administrative Agent is appointed) and (2) all payments, communications and determinations provided to be made by,
to or through the Administrative Agent shall instead be made by or to each Lender and the L/C Issuer directly, until such time
as the Required Lenders appoint a successor Administrative Agent as provided for above in this Section. Upon the acceptance of
a successor’s appointment as Administrative Agent hereunder, such successor shall succeed to and become vested with all of
the rights, powers, privileges and duties of the retiring (or retired) Administrative Agent, and the retiring Administrative Agent
shall be discharged from all of its duties and obligations hereunder or under the other Loan Documents (if not already discharged
therefrom as provided above in this Section). The fees payable by the Borrower to a successor Administrative Agent shall be the
same as those payable to its predecessor unless otherwise agreed between the Borrower and such successor. After the retiring Administrative
Agent’s resignation hereunder and under the other Loan Documents, the provisions of this Article and Section 11.04
shall continue in effect for the benefit of such retiring Administrative Agent, its sub-agents and their respective Related Parties
in respect of any actions taken or omitted to be taken by any of them while the retiring Administrative Agent was acting as Administrative
Agent.

 

(b)          Any
resignation by Bank of America as Administrative Agent pursuant to this Section shall also constitute its resignation as L/C Issuer
and Swing Line Lender. Upon the acceptance of a successor’s appointment as Administrative Agent hereunder, (a) such successor
shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring L/C Issuer and Swing Line
Lender, (b) the retiring L/C Issuer and Swing Line Lender shall be discharged from all of their respective duties and obligations
hereunder or under the other Loan Documents, and (c) the successor L/C Issuer shall issue letters of credit in substitution for
the Letters of Credit, if any, outstanding at the time of such succession or make other arrangements satisfactory to the retiring
L/C Issuer to effectively assume the obligations of the retiring L/C Issuer with respect to such Letters of Credit.

 

10.07         Non-Reliance
on Administrative Agent and Other Lenders. Each Lender and the L/C Issuer acknowledges that it has, independently and without
reliance upon the Administrative Agent or any other Lender or any of their Related Parties and based on such documents and information
as it has deemed appropriate, made its own credit analysis and decision to enter into this Agreement. Each Lender and the L/C Issuer
also acknowledges that it will, independently and without reliance upon the Administrative Agent or any other Lender or any of
their Related Parties and based on such documents and information as it shall from time to time deem appropriate, continue to make
its own decisions in taking or not taking action under or based upon this Agreement, any other Loan Document or any related agreement
or any document furnished hereunder or thereunder.

 

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10.08         No
Other Duties, Etc. Anything herein to the contrary notwithstanding, none of the Arrangers or Co-Syndication Agents listed on
the cover page hereof shall have any powers, duties or responsibilities under this Agreement or any of the other Loan Documents,
except in its capacity, as applicable, as the Administrative Agent, a Lender or the L/C Issuer hereunder.

 

10.09         Administrative
Agent May File Proofs of Claim. In case of the pendency of any proceeding under any Debtor Relief Law or any other judicial
proceeding relative to the Borrower, the Administrative Agent (irrespective of whether the principal of any Loan or L/C Obligation
shall then be due and payable as herein expressed or by declaration or otherwise and irrespective of whether the Administrative
Agent shall have made any demand on the Borrower) shall be entitled and empowered, by intervention in such proceeding or otherwise

 

(a)          to
file and prove a claim for the whole amount of the principal and interest owing and unpaid in respect of the Loans, L/C Obligations
and all other Obligations that are owing and unpaid and to file such other documents as may be necessary or advisable in order
to have the claims of the Lenders, the L/C Issuer and the Administrative Agent (including any claim for the reasonable compensation,
expenses, disbursements and advances of the Lenders, the L/C Issuer and the Administrative Agent and their respective agents and
counsel and all other amounts due the Lenders, the L/C Issuer and the Administrative Agent under Sections 2.03(i) and (j),
2.09 and 11.04) allowed in such judicial proceeding; and

 

(b)          to
collect and receive any monies or other property payable or deliverable on any such claims and to distribute the same in accordance
with the Loan Documents and applicable Law;

 

and any custodian, receiver, assignee,
trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is hereby authorized by each Lender
and the L/C Issuer to make such payments to the Administrative Agent and, in the event that the Administrative Agent shall consent
to the making of such payments directly to the Lenders and the L/C Issuer, to pay to the Administrative Agent any amount due for
the reasonable compensation, expenses, disbursements and advances of the Administrative Agent and its agents and counsel, and any
other amounts due the Administrative Agent under Sections 2.09 and 11.04.

 

Nothing contained herein
shall be deemed to authorize the Administrative Agent to authorize or consent to or accept or adopt on behalf of any Lender or
the L/C Issuer any plan of reorganization, arrangement, adjustment or composition affecting the Obligations or the rights of any
Lender or the L/C Issuer to authorize the Administrative Agent to vote in respect of the claim of any Lender or the L/C Issuer
in any such proceeding.

 

ARTICLE
XI.

MISCELLANEOUS

 

11.01         Amendments,
Etc. No amendment or waiver of any provision of this Agreement or any other Loan Document, and no consent to any departure
by the Borrower therefrom, shall be effective unless in writing signed by the Required Lenders and the Borrower, as the case may
be, and acknowledged by the Administrative Agent, and each such waiver or consent shall be effective only in the specific instance
and for the specific purpose for which given; provided that no such amendment, waiver or consent shall:

 

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(a)          waive
any condition set forth in Section 4.01(a) without the written consent of each Lender;

 

(b)          extend
or increase the Commitment of any Lender (or reinstate any Commitment terminated pursuant to Section 9.02) without the written
consent of such Lender;

 

(c)          postpone
any date fixed by this Agreement or any other Loan Document for any payment or mandatory prepayment
of principal, interest, fees or other amounts due to the Lenders (or any of them) hereunder or under any other Loan Document without
the written consent of each Lender directly affected thereby;

 

(d)          reduce
the principal of, or the rate of interest specified herein on, any Loan or L/C Borrowing, or (subject to clause (iv)
of the second proviso to this Section 11.01) any fees or other amounts payable hereunder or under any other Loan Document
without the written consent of each Lender directly affected thereby; provided that only the consent of the Required Lenders
shall be necessary to amend the definition of “Default Rate” or to waive any obligation of the Borrower to pay interest
or Letter of Credit Fees at the Default Rate;

 

(e)          change
Section 9.04 in a manner that would alter the pro rata sharing of payments required thereby without the written consent
of each Lender;

 

(f)          change
any provision of this Section or the definition of “Required Lenders” or any other provision hereof specifying the
number or percentage of Lenders required to amend, waive or otherwise modify any rights hereunder or make any determination or
grant any consent hereunder, without the written consent of each Lender; or

 

(g)          change
the definition of “Letter of Credit Sublimit” or “Swing Line Sublimit” or any other provision hereof (including
Section 11.19) if the effect thereof would be to reinstate and make effective either Section 2.03 or Section 2.04
such that the Borrower would be able to request and the L/C Issuer and the Lenders would be obligated to make and/or participate
in Letters of Credit and/or Swing Line Loans, as the case may be, in any case, without the written consent of each Lender

 

and provided, further, that
(i) no amendment, waiver or consent shall, unless in writing and signed by the L/C Issuer in addition to the Lenders required above,
affect the rights or duties of the L/C Issuer under this Agreement or any Issuer Document relating to any Letter of Credit issued
or to be issued by it; (ii) no amendment, waiver or consent shall, unless in writing and signed by the Swing Line Lender in addition
to the Lenders required above, affect the rights or duties of the Swing Line Lender under this Agreement; (iii) no amendment, waiver
or consent shall, unless in writing and signed by the Administrative Agent in addition to the Lenders required above, affect the
rights or duties of the Administrative Agent under this Agreement or any other Loan Document; and
(iv) the Fee Letter may not be amended, or rights or privileges thereunder waived, except pursuant to a writing executed only by
the parties thereto. Notwithstanding anything to the contrary herein, no Defaulting Lender shall have any right to approve or disapprove
any amendment, waiver or consent hereunder (and any amendment, waiver or consent which by its terms requires the consent of all
Lenders or each affected Lender may be effected with the consent of the applicable Lenders other than Defaulting Lenders), except
that (x) the Commitment of any Defaulting Lender may not be increased or extended without the
consent of such Lender and (y) any waiver, amendment or modification requiring the consent of all Lenders or each affected Lender
that by its terms affects any Defaulting Lender more adversely than other affected Lenders shall require the consent of such Defaulting
Lender.

 

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11.02         Notices;
Effectiveness; Electronic Communication.

 

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

 

(i)          if
to the Borrower, the Administrative Agent, the L/C Issuer or the Swing Line Lender, to the address, facsimile number, electronic
mail address or telephone number specified for such Person on Schedule 11.02; and

 

(ii)         if
to any other Lender, to the address, facsimile number, electronic mail address or telephone number specified in its Administrative
Questionnaire (including, as appropriate, notices delivered solely to the Person designated by a Lender on its Administrative Questionnaire
then in effect for the delivery of notices that may contain material non-public information relating to the Borrower).

 

Notices and other communications sent by
hand or overnight courier service, or mailed by certified or registered mail, shall be deemed to have been given when received;
notices and other communications sent by facsimile shall be deemed to have been given when sent (except that, if not given during
normal business hours for the recipient, shall be deemed to have been given at the opening of business on the next Business Day
for the recipient). Notices and other communications delivered through electronic communications to the extent provided in clause
(b) below, shall be effective as provided in such clause (b).

 

(b)          Electronic
Communications. Notices and other communications to the Lenders and the L/C Issuer hereunder may be delivered or furnished
by electronic communication (including e-mail and Internet or intranet websites) pursuant to procedures approved by the Administrative
Agent; provided that the foregoing shall not apply to notices to any Lender or the L/C Issuer pursuant to Article II
if such Lender or the L/C Issuer, as applicable, has notified the Administrative Agent that it is incapable of receiving notices
under such Article by electronic communication. The Administrative Agent or the Borrower may, in its discretion, agree to accept
notices and other communications to it hereunder by electronic communications pursuant to procedures approved by it; provided
that approval of such procedures may be limited to particular notices or communications.

 

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Unless the Administrative
Agent otherwise prescribes, (i) notices and other communications sent to an e-mail address shall be deemed received upon the
sender’s receipt of an acknowledgement from the intended recipient (such as by the “return receipt requested”
function, as available, return e-mail or other written acknowledgement), and (ii) notices or communications posted to an Internet
or intranet website shall be deemed received upon the deemed receipt by the intended recipient at its e-mail address as described
in the foregoing clause (i) of notification that such notice or communication is available and identifying the website
address therefor; provided that, as to clauses (i) and (ii), if such notice, e-mail or other communication
is not sent during the normal business hours of the recipient, such notice or communication shall be deemed to have been sent at
the opening of business on the next Business Day for the recipient.

 

(c)          The
Platform. THE PLATFORM IS PROVIDED “AS IS” AND “AS AVAILABLE.” THE AGENT PARTIES (AS DEFINED BELOW)
DO NOT WARRANT THE ACCURACY OR COMPLETENESS OF THE BORROWER MATERIALS OR THE ADEQUACY OF THE PLATFORM, AND EXPRESSLY DISCLAIM LIABILITY
FOR ERRORS IN OR OMISSIONS FROM THE BORROWER MATERIALS. NO WARRANTY OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY, INCLUDING ANY WARRANTY
OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT OF THIRD PARTY RIGHTS OR FREEDOM FROM VIRUSES OR OTHER CODE
DEFECTS, IS MADE BY ANY AGENT PARTY IN CONNECTION WITH THE BORROWER MATERIALS OR THE PLATFORM. In no event shall the Administrative
Agent or any of its Related Parties (collectively, the “Agent Parties”) have any liability to the Borrower,
any Lender, the L/C Issuer or any other Person for losses, claims, damages, liabilities or expenses of any kind (whether in tort,
contract or otherwise) arising out of the Borrower’s or the Administrative Agent’s transmission of Borrower Materials
through the Internet, except to the extent that such losses, claims, damages, liabilities or expenses are determined by a court
of competent jurisdiction by a final and nonappealable judgment to have resulted from the gross negligence or willful misconduct
of such Agent Party; provided that in no event shall any Agent Party have any liability to the Borrower, any Lender, the
L/C Issuer or any other Person for indirect, special, incidental, consequential or punitive damages (as opposed to direct or actual
damages).

 

(d)          Change
of Address, Etc. Each of the Borrower, the Administrative Agent, the L/C Issuer and the Swing Line Lender may change its address,
facsimile or telephone number for notices and other communications hereunder by notice to the other parties hereto. Each other
Lender may change its address, facsimile or telephone number for notices and other communications hereunder by notice to the Borrower,
the Administrative Agent, the L/C Issuer and the Swing Line Lender. In addition, each Lender agrees to notify the Administrative
Agent from time to time to ensure that the Administrative Agent has on record (i) an effective address, contact name, telephone
number, facsimile number and electronic mail address to which notices and other communications may be sent and (ii) accurate wire
instructions for such Lender. Furthermore, each Public Lender agrees to cause at least one individual at or on behalf of such Public
Lender to at all times have selected the “Private Side Information” or similar designation on the content declaration
screen of the Platform in order to enable such Public Lender or its delegate, in accordance with such Public Lender’s compliance
procedures and applicable Law, including United States Federal and state securities Laws, to make reference to Borrower Materials
that are not made available through the “Public Side Information” portion of the Platform and that may contain material
non-public information with respect to the Borrower or its securities for purposes of United States Federal or state securities
laws.

 

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(e)          Reliance
by Administrative Agent, L/C Issuer and Lenders. The Administrative Agent, the L/C Issuer and the Lenders shall be entitled
to rely and act upon any notices (including telephonic or electronic Committed Loan Notices and Swing Line Loan Notices) purportedly
given by or on behalf of the Borrower even if (i) such notices were not made in a manner specified herein, were incomplete or were
not preceded or followed by any other form of notice specified herein, or (ii) the terms thereof, as understood by the recipient,
varied from any confirmation thereof. The Borrower shall indemnify the Administrative Agent, the L/C Issuer, each Lender and the
Related Parties of each of them from all losses, costs, expenses and liabilities resulting from the reliance by such Person on
each notice purportedly given by or on behalf of the Borrower. All telephonic notices to and other telephonic communications with
the Administrative Agent may be recorded by the Administrative Agent, and each of the parties hereto hereby consents to such recording.

 

11.03         No
Waiver; Cumulative Remedies; Enforcement. No failure by any Lender, the L/C Issuer or the Administrative Agent to exercise,
and no delay by any such Person in exercising, any right, remedy, power or privilege under Loan Document shall operate as a waiver
thereof; nor shall any single or partial exercise of any right, remedy, power or privilege hereunder preclude any other or further
exercise thereof or the exercise of any other right, remedy, power or privilege. The rights, remedies, powers and privileges provided
under the Loan Documents are cumulative and not exclusive of any rights, remedies, powers and privileges provided by law.

 

Notwithstanding anything
to the contrary contained herein or in any other Loan Document, the authority to enforce rights and remedies hereunder and under
the other Loan Documents against the Borrower shall be vested exclusively in, and all actions and proceedings at law in connection
with such enforcement shall be instituted and maintained exclusively by, the Administrative Agent in accordance with Section
9.02 for the benefit of all the Lenders and the L/C Issuer; provided that the foregoing shall not prohibit (a) the Administrative
Agent from exercising on its own behalf the rights and remedies that inure to its benefit (solely in its capacity as Administrative
Agent) hereunder and under the other Loan Documents, (b) the L/C Issuer or the Swing Line Lender from exercising the rights and
remedies that inure to its benefit (solely in its capacity as L/C Issuer or Swing Line Lender, as the case may be) hereunder and
under the other Loan Documents, (c) any Lender from exercising setoff rights in accordance with Section 11.08 (subject to
the terms of Section 2.13), or (d) any Lender from filing proofs of claim or appearing and filing pleadings on its own behalf
during the pendency of a proceeding relative to the Borrower under any Debtor Relief Law; and provided, further,
that if at any time there is no Person acting as Administrative Agent hereunder and under the other Loan Documents, then (i) the
Required Lenders shall have the rights otherwise ascribed to the Administrative Agent pursuant to Section 8.02 and (ii)
in addition to the matters set forth in clauses (b), (c) and (d) of the preceding proviso and subject to Section
2.13, any Lender may, with the consent of the Required Lenders, enforce any rights and remedies available to it and
as authorized by the Required Lenders.

 

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11.04         Expenses;
Indemnity; Damage Waiver.

 

(a)          Costs
and Expenses. The Borrower shall pay (i) all reasonable out-of-pocket expenses incurred by the Administrative Agent and
Arrangers and their respective Affiliates (including the reasonable fees, charges and disbursements of counsel for the Administrative
Agent and Arrangers), in connection with the syndication of the credit facilities provided for herein, the preparation, negotiation,
execution, delivery and administration of this Agreement and the other Loan Documents or any amendments, modifications or waivers
of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated); provided
that notwithstanding the foregoing set forth in this clause (i), with respect to the fees and disbursements of counsel for
the Administrative Agent and the Arrangers incurred prior to the Closing Date, the Borrower shall only be obligated to pay the
fees and disbursements of Mayer Brown LLP, (ii) all reasonable out-of-pocket expenses incurred by the L/C Issuer in connection
with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder and (iii) all
out-of-pocket expenses actually incurred by the Administrative Agent, any Lender or the L/C Issuer (including the fees, charges
and disbursements of any counsel for the Administrative Agent, any Lender or the L/C Issuer), and shall
pay all actual fees and time charges for attorneys who may be employees of the Administrative Agent, any Lender or the L/C Issuer,
in connection with the enforcement or protection of its rights and remedies (A) in connection with this Agreement and the
other Loan Documents, including its rights under this Section, or (B) in connection with the Loans made or Letters of Credit
issued hereunder, including all such out-of-pocket expenses incurred during any workout, restructuring or negotiations in respect
of such Loans or Letters of Credit.

 

(b)          Indemnification
by the Borrower. The Borrower shall indemnify the Administrative Agent (and any sub-agent thereof), each Lender and the L/C
Issuer, and each Related Party of any of the foregoing Persons (each such Person being called an “Indemnitee”)
against, and hold each Indemnitee harmless from, any and all losses, claims, damages, liabilities and related expenses (including
the reasonable and actual fees, charges and disbursements of any counsel for any Indemnitee), and shall
indemnify and hold harmless each Indemnitee from all reasonable and actual fees and time charges and disbursements for attorneys
who may be employees of any Indemnitee, incurred by any Indemnitee or asserted against any Indemnitee by any third party
or by the Borrower arising out of, in connection with, or as a result of (i) this Agreement, any other Loan Document or any
agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of their respective obligations hereunder
or thereunder, the consummation of the transactions contemplated hereby or thereby, or, in the case of the Administrative Agent
(and any sub-agent thereof) and its Related Parties only, the administration of this Agreement and the other Loan Documents (including
in respect of any matters addressed in Section 3.01), (ii) any Loan or Letter of Credit or the use or proposed use
of the proceeds therefrom (including any refusal by the L/C Issuer to honor a demand for payment under a Letter of Credit if the
documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any
actual or alleged presence or release of Hazardous Materials on or from any property owned or operated by the Borrower or any of
its Subsidiaries, or any Environmental Liability related in any way to the Borrower or any of its Subsidiaries, or (iv) any
actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract,
tort or any other theory, whether brought by a third party or by the Borrower, and regardless of whether any Indemnitee is a party
thereto; provided that such indemnity shall not, as to any Indemnitee, be available to the extent that such losses, claims,
damages, liabilities or related expenses (x) are determined by a court of competent jurisdiction by final and nonappealable
judgment to have resulted from the gross negligence or willful misconduct of such Indemnitee or (y) result from a claim brought
by the Borrower against an Indemnitee for breach in bad faith of such Indemnitee’s obligations hereunder or under any other
Loan Document, if the Borrower has obtained a final and nonappealable judgment in its favor on such claim as determined by a court
of competent jurisdiction. Without limiting the provisions of Section 3.01(c), this Section 11.04(b) shall not apply
with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim.

 

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(c)          Reimbursement
by Lenders. To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under clause (a)
or (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), the L/C Issuer or any
Related Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent),
the L/C Issuer or such Related Party, as the case may be, such Lender’s pro rata share (determined as of the time that the
applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the Total Credit Exposure
at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender), such payment
to be made severally among them based on such Lenders’ Applicable Percentage (determined as of the time that the applicable
unreimbursed expense or indemnity payment is sought) of such unpaid amount, provided that the unreimbursed expense or indemnified
loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent
(or any such sub-agent) or the L/C Issuer in its capacity as such, or against any Related Party of any of the foregoing acting
for the Administrative Agent (or any such sub-agent) or L/C Issuer in connection with such capacity. The obligations of the Lenders
under this clause (c) are subject to the provisions of Section 2.12(d).

 

(d)          Waiver
of Consequential Damages, Etc. To the fullest extent permitted by applicable law, the Borrower shall not assert, and hereby
waives, and acknowledges that no other Person shall have, any claim against any Indemnitee, on any theory of liability, for special,
indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as
a result of, this Agreement, any other Loan Document or any agreement or instrument contemplated hereby, the transactions contemplated
hereby or thereby, any Loan or Letter of Credit or the use of the proceeds thereof. No Indemnitee referred to in clause (b)
above shall be liable for any damages arising from the use by unintended recipients of any information or other materials distributed
to such unintended recipients by such Indemnitee through telecommunications, electronic or other information transmission systems
in connection with this Agreement or the other Loan Documents or the transactions contemplated hereby or thereby other than for
direct or actual damages resulting from the gross negligence or willful misconduct of such Indemnitee as determined by a final
and nonappealable judgment of a court of competent jurisdiction.

 

(e)          Payments.
All amounts due under this Section shall be payable not later than ten Business Days after demand therefor.

 

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(f)          Survival.
The agreements in this Section and the indemnity provisions of Section 11.02(e) shall survive the resignation of the Administrative
Agent, the L/C Issuer and the Swing Line Lender, the replacement of any Lender, the termination
of the Aggregate Commitments and the repayment, satisfaction or discharge of all the other Obligations.

 

11.05         Payments
Set Aside. To the extent that any payment by or on behalf of the Borrower is made to the Administrative Agent, the L/C Issuer
or any Lender, or the Administrative Agent, the L/C Issuer or any Lender exercises its right of setoff, and such payment or the
proceeds of such setoff or any part thereof is subsequently invalidated, declared to be fraudulent or preferential, set aside or
required (including pursuant to any settlement entered into by the Administrative Agent, the L/C Issuer or such Lender in its discretion)
to be repaid to a trustee, receiver or any other party, in connection with any proceeding under any Debtor Relief Law or otherwise,
then (a) to the extent of such recovery, the obligation or part thereof originally intended to be satisfied shall be revived and
continued in full force and effect as if such payment had not been made or such setoff had not occurred, and (b) each Lender and
the L/C Issuer severally agrees to pay to the Administrative Agent upon demand its applicable share (without duplication) of any
amount so recovered from or repaid by the Administrative Agent, plus interest thereon from the date of such demand to the date
such payment is made at a rate per annum equal to the applicable Overnight Rate from time to time in effect. The obligations of
the Lenders and the L/C Issuer under clause (b) of the preceding sentence shall survive the payment in full of the Obligations
and the termination of this Agreement.

 

11.06         Successors
and Assigns.

 

(a)          Successors
and Assigns Generally. The provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto
and their respective successors and assigns permitted hereby, except that the Borrower may not assign
or otherwise transfer any of its rights or obligations hereunder without the prior written consent of the Administrative Agent
and each Lender and no Lender may assign or otherwise transfer any of its rights or obligations hereunder except (i) to an assignee
in accordance with the provisions of clause (b) of this Section, (ii) by way of participation in accordance with the provisions
of clause (d) of this Section, or (iii) by way of pledge or assignment of a security interest
subject to the restrictions of clause (f) of this Section (and any other attempted assignment or transfer by any party hereto
shall be null and void). Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person (other than
the parties hereto, their respective successors and assigns permitted hereby, Participants to the extent provided in clause
(d) of this Section and, to the extent expressly contemplated hereby, the Related Parties of each of the Administrative Agent,
the L/C Issuer and the Lenders) any legal or equitable right, remedy or claim under or by reason of this Agreement.

 

(b)          Assignments
by Lenders. Any Lender may at any time assign to one or more assignees all or a portion of its rights and obligations under
this Agreement (including all or a portion of its Commitment and the Loans (including for purposes of this clause (b), participations
in L/C Obligations and in Swing Line Loans) at the time owing to it); provided that any such assignment shall be subject
to the following conditions:

 

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(i)          Minimum
Amounts.

 

(A)         in
the case of an assignment of the entire remaining amount of the assigning Lender’s Commitment and the Loans at the time owing
to it or in the case of an assignment to a Lender, an Affiliate of a Lender or an Approved Fund, no minimum amount need be assigned;
and

 

(B)         in
any case not described in clause (b)(i)(A) of this Section, the aggregate amount of the Commitment (which for this purpose
includes Loans outstanding thereunder) or, if the Commitment is not then in effect, the principal outstanding balance of the Loans
of the assigning Lender subject to each such assignment, determined as of the date the Assignment and Assumption with respect to
such assignment is delivered to the Administrative Agent or, if “Trade Date” is specified in the Assignment and Assumption,
as of the Trade Date, shall not be less than $10,000,000 unless each of the Administrative Agent and, so long as no Event of Default
has occurred and is continuing, the Borrower otherwise consents (each such consent not to be unreasonably withheld or delayed);
provided that concurrent assignments to members of an Assignee Group and concurrent assignments from members of an Assignee
Group to a single Eligible Assignee (or to an Eligible Assignee and members of its Assignee Group) will be treated as a single
assignment for purposes of determining whether such minimum amount has been met.

 

(ii)         Proportionate
Amounts. Each partial assignment shall be made as an assignment of a proportionate part of all the assigning Lender’s
rights and obligations under this Agreement with respect to the Loans or the Commitment assigned, except that this clause (ii)
shall not apply to rights in respect the Swing Line Lender’s rights and obligations in respect of Swing Line Loans;

 

(iii)        Required
Consents. No consent shall be required for any assignment except to the extent required by clause (b)(i)(B) of this
Section and, in addition:

 

(A)         the
consent of the Borrower (such consent not to be unreasonably withheld or delayed) shall be required unless (1) an Event of Default
has occurred and is continuing at the time of such assignment or (2) such assignment is to a Lender, an Affiliate of a Lender or
an Approved Fund; provided that the Borrower shall be deemed to have consented to any
such assignment unless it shall object thereto by written notice to the Administrative Agent within five (5) Business Days after
having received notice thereof;

 

(B)         the
consent of the Administrative Agent (such consent not to be unreasonably withheld or delayed) shall be required if such assignment
is to a Person that is not a Lender, an Affiliate of such Lender or an Approved Fund with respect to such Lender;

 

(C)         the
consent of the L/C Issuer (such consent not to be unreasonably withheld or delayed) shall be required for any assignment that increases
the obligation of the assignee to participate in exposure under one or more Letters of Credit (whether or not then outstanding);
and

 

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(D)         the
consent of the Swing Line Lender (such consent not to be unreasonably withheld or delayed) shall be required for any assignment.

 

(iv)        Assignment
and Assumption. The parties to each assignment shall execute and deliver to the Administrative Agent an Assignment and Assumption,
together with a processing and recordation fee in the amount of $3,500; provided that the Administrative Agent may, in its
sole discretion, elect to waive such processing and recordation fee in the case of any assignment. The assignee, if it is not a
Lender, shall deliver to the Administrative Agent an Administrative Questionnaire.

 

(v)         No
Assignment to Certain Persons. No such assignment shall be made (A) to the Borrower or any of its Affiliates or Subsidiaries,
or (B) to any Defaulting Lender or any of its Subsidiaries, or any Person who, upon becoming a Lender hereunder, would constitute
any of the foregoing Persons described in this clause (B), or (C) to a natural person.

 

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

 

Subject to acceptance and recording thereof
by the Administrative Agent pursuant to clause (c) of this Section, from and after the effective date specified in each
Assignment and Assumption, the assignee thereunder shall be a party to this Agreement and, to the extent of the interest assigned
by such Assignment and Assumption, have the rights and obligations of a Lender under this Agreement, and the assigning Lender thereunder
shall, to the extent of the interest assigned by such Assignment and Assumption, be released from its obligations under this Agreement
(and, in the case of an Assignment and Assumption covering all of the assigning Lender’s rights and obligations under this
Agreement, such Lender shall cease to be a party hereto) but shall continue to be entitled to the benefits of Sections 3.01,
3.04, 3.05, and 11.04 with respect to facts and circumstances occurring prior to the effective date of such
assignment; provided, that except to the extent otherwise expressly agreed by the affected parties, no assignment by a Defaulting
Lender will constitute a waiver or release of any claim of any party hereunder arising from that Lender’s having been a Defaulting
Lender. Upon request, the Borrower (at its expense) shall execute and deliver a Note to the assignee Lender. Any assignment or
transfer by a Lender of rights or obligations under this Agreement that does not comply with this subsection shall be treated for
purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with clause
(d) of this Section.

 

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(c)          Register.
The Administrative Agent, acting solely for this purpose as an agent of the Borrower (and such agency being solely for tax purposes),
shall maintain at the Administrative Agent’s Office a copy of each Assignment and Assumption delivered to it and a register
for the recordation of the names and addresses of the Lenders, and the Commitments of, and principal amounts (and stated interest)
of the Loans and L/C Obligations owing to, each Lender pursuant to the terms hereof from time to time (the “Register”).
The entries in the Register shall be conclusive absent manifest error, and the Borrower, the Administrative Agent and the Lenders
shall treat each Person whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes
of this Agreement. The Register shall be available for inspection by the Borrower and
any Lender, at any reasonable time and from time to time upon reasonable prior notice.

 

(d)          Participations.
Any Lender may at any time, without the consent of, or notice to, the Borrower or the Administrative Agent, sell participations
to any Person (other than a natural person, a Defaulting Lender or the Borrower or any of the Borrower’s Affiliates or Subsidiaries
(each, a “Participant”) in all or a portion of such Lender’s rights and/or obligations under this Agreement
(including all or a portion of its Commitment and/or the Loans (including such Lender’s participations in L/C Obligations
and/or Swing Line Loans) owing to it); provided that (i) such Lender’s obligations under this Agreement shall
remain unchanged, (ii) such Lender shall remain solely responsible to the other parties hereto for the performance of such
obligations and (iii) the Borrower, the Administrative Agent, the Lenders and the L/C Issuer shall continue to deal solely
and directly with such Lender in connection with such Lender’s rights and obligations under this Agreement. For the avoidance
of doubt, each Lender shall be responsible for the indemnity under Section 11.04(c) without regard to the existence of any
participation.

 

Any agreement or instrument
pursuant to which a Lender sells such a participation shall provide that such Lender shall retain the sole right to enforce this
Agreement and to approve any amendment, modification or waiver of any provision of this Agreement; provided that such agreement
or instrument may provide that such Lender will not, without the consent of the Participant, agree to any amendment, waiver or
other modification described in the first proviso to Section 11.01 that affects such Participant. The Borrower agrees that
each Participant shall be entitled to the benefits of Sections 3.01, 3.04 and 3.05 to the same extent as if
it were a Lender and had acquired its interest by assignment pursuant to clause (b) of this Section (it being understood
that the documentation required under Section 3.01(e) shall be delivered to the Lender who sells the participation) to the
same extent as if it were a Lender and had acquired its interest by assignment pursuant to paragraph (b) of this Section; provided
that such Participant (A) agrees to be subject to the provisions of Sections 3.06 and 11.13 as if it were an assignee
under paragraph (b) of this Section and (B) shall not be entitled to receive any greater payment under Section 3.01 or 3.04,
with respect to any participation, than the Lender from whom it acquired the applicable participation would have been entitled
to receive, except to the extent such entitlement to receive a greater payment results from a Change in Law that occurs after the
Participant acquired the applicable participation. Each Lender that sells a participation agrees, at the Borrower's request and
expense, to use reasonable efforts to cooperate with the Borrower to effectuate the provisions of Section 3.06 with respect
to any Participant. To the extent permitted by law, each Participant also shall be entitled to the benefits of Section 11.08
as though it were a Lender; provided that such Participant agrees to be subject to Section 2.13 as though it were
a Lender. Each Lender that sells a participation shall, acting solely for this purpose as an agent of the Borrower, maintain a
register on which it enters the name and address of each Participant and the principal amounts (and stated interest) of each Participant’s
interest in the Loans or other obligations under the Loan Documents (the “Participant Register”); provided
that no Lender shall have any obligation to disclose all or any portion of the Participant Register (including the identity of
any Participant or any information relating to a Participant's interest in any commitments, loans, letters of credit or its other
obligations under any Loan Document) to any Person except to the extent that such disclosure is necessary to establish that such
commitment, loan, letter of credit or other obligation is in registered form under Section 5f.103-1(c) of the United States Treasury
Regulations. The entries in the Participant Register shall be conclusive absent manifest error, and such Lender shall treat each
Person whose name is recorded in the Participant Register as the owner of such participation for all purposes of this Agreement
notwithstanding any notice to the contrary. For the avoidance of doubt, the Administrative Agent (in its capacity as Administrative
Agent) shall have no responsibility for maintaining a Participant Register.

 

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(e)          Certain
Pledges. Any Lender may at any time pledge or assign a security interest in all or any portion of its rights under this Agreement
(including under its Note, if any) to secure obligations of such Lender, including any pledge or assignment to secure obligations
to a Federal Reserve Bank; provided that no such pledge or assignment shall release such Lender from any of its obligations
hereunder or substitute any such pledgee or assignee for such Lender as a party hereto.

 

(f)          Resignation
as L/C Issuer or Swing Line Lender after Assignment. Notwithstanding anything to the contrary contained herein, if at any time
Bank of America assigns all of its Commitment and Loans pursuant to clause (b) above, Bank of America may, (i) upon 30
days’ notice to the Borrower and the Lenders, resign as L/C Issuer and/or (ii) upon 30
days’ notice to the Borrower, resign as Swing Line Lender. In the event of any such resignation as L/C Issuer or Swing Line
Lender, the Borrower shall be entitled to appoint from among the Lenders a successor L/C Issuer or Swing Line Lender hereunder;
provided that no failure by the Borrower to appoint any such successor shall affect the resignation of Bank of America as
L/C Issuer or Swing Line Lender, as the case may be. If Bank of America resigns as L/C Issuer, it shall retain all the rights,
powers, privileges and duties of the L/C Issuer hereunder with respect to all Letters of Credit outstanding as of the effective
date of its resignation as L/C Issuer and all L/C Obligations with respect thereto (including the right to require the Lenders
to make Base Rate Committed Loans or fund risk participations in Unreimbursed Amounts pursuant to Section 2.03(c)). If Bank
of America resigns as Swing Line Lender, it shall retain all the rights of the Swing Line Lender provided for hereunder with respect
to Swing Line Loans made by it and outstanding as of the effective date of such resignation, including the right to require the
Lenders to make Base Rate Committed Loans or fund risk participations in outstanding Swing Line Loans pursuant to Section 2.04(c).
Upon the appointment of a successor L/C Issuer and/or Swing Line Lender, (a) such successor shall succeed to and become vested
with all of the rights, powers, privileges and duties of the retiring L/C Issuer or Swing Line Lender, as the case may be, and
(b) the successor L/C Issuer shall issue letters of credit in substitution for the Letters of Credit, if any, outstanding at the
time of such succession or make other arrangements satisfactory to Bank of America to effectively assume the obligations of Bank
of America with respect to such Letters of Credit.

 

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11.07         Treatment
of Certain Information; Confidentiality. Each of the Administrative Agent, the Lenders and the L/C Issuer agrees to maintain
the confidentiality of the Information (as defined below), except that Information may be disclosed (a) to its Affiliates and to
its Related Parties (it being understood that the Persons to whom such disclosure is made will be informed of the confidential
nature of such Information and instructed to keep such Information confidential), (b) to the extent required or requested by any
regulatory authority purporting to have jurisdiction over such Person or its Related Parties (including any self-regulatory authority,
such as the National Association of Insurance Commissioners), (c) to the extent required by applicable laws or regulations or by
any subpoena or similar legal process, (d) to any other party hereto, (e) in connection with the exercise of any remedies hereunder
or under any other Loan Document or any action or proceeding relating to this Agreement or any other Loan Document or the enforcement
of rights hereunder or thereunder, (f) subject to an agreement containing provisions substantially the same as those of this Section,
to (i) any assignee of or Participant in, or any prospective assignee of or Participant in, any of its rights or obligations under
this Agreement or any Eligible Assignee invited to be a Lender pursuant to Section 2.16(c)
or (ii) any actual or prospective party (or its Related Parties) to any swap, derivative or other transaction under which payments
are to be made by reference to the Borrower and its obligations, this Agreement or payments hereunder, (g) on a confidential basis
to (i) any rating agency in connection with rating the Borrower or its Subsidiaries or the credit facilities provided hereunder
or (ii) the CUSIP Service Bureau or any similar agency in connection with the issuance and monitoring of CUSIP numbers or other
market identifiers with respect to the credit facilities provided hereunder, (h) with the consent of the Borrower or (i) to the
extent such Information (x) becomes publicly available other than as a result of a breach of this Section or (y) becomes available
to the Administrative Agent, any Lender, the L/C Issuer or any of their respective Affiliates on a nonconfidential basis from a
source other than the Borrower. For purposes of this Section, “Information” means all information received from the
Borrower or any Subsidiary relating to the Borrower or any Subsidiary or any of their respective businesses, other than any such
information that is available to the Administrative Agent, any Lender or the L/C Issuer on a nonconfidential basis prior to disclosure
by the Borrower or any Subsidiary thereof. Any Person required to maintain the confidentiality of Information as provided in this
Section shall be considered to have complied with its obligation to do so if such Person has exercised the same degree of care
to maintain the confidentiality of such Information as such Person would accord to its own confidential information.

 

Each of the Administrative
Agent, the Lenders and the L/C Issuer acknowledges that (a) the Information may include material non-public information concerning
the Borrower or a Subsidiary, as the case may be, (b) it has developed compliance procedures regarding the use of material non-public
information and (c) it will handle such material non-public information in accordance with applicable Law, including United States
Federal and state securities Laws.

 

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11.08         Right
of Setoff. If an Event of Default shall have occurred and be continuing, each Lender, the L/C Issuer and each of their respective
Affiliates is hereby authorized at any time and from time to time, to the fullest extent permitted by applicable law, to set off
and apply any and all deposits (general or special, time or demand, provisional or final, in whatever currency) at any time held
and other obligations (in whatever currency) at any time owing by such Lender, the L/C Issuer or any such Affiliate to or for the
credit or the account of the Borrower against any and all of the obligations of the Borrower now or hereafter existing under this
Agreement or any other Loan Document to such Lender or the L/C Issuer, irrespective of whether or not such Lender or the L/C Issuer
shall have made any demand under this Agreement or any other Loan Document and although such obligations of the Borrower may be
contingent or unmatured or are owed to a branch or office of such Lender or the L/C Issuer different from the branch or office
holding such deposit or obligated on such indebtedness; provided that in the event that any Defaulting
Lender shall exercise any such right of setoff, (x) all amounts so set off shall be paid over immediately to the Administrative
Agent for further application in accordance with the provisions of Section 2.15 and, pending such payment, shall be segregated
by such Defaulting Lender from its other funds and deemed held in trust for the benefit of the Administrative Agent and the Lenders,
and (y) the Defaulting Lender shall provide promptly to the Administrative Agent a statement describing in reasonable detail the
Obligations owing to such Defaulting Lender as to which it exercised such right of setoff. The rights of each Lender, the
L/C Issuer and their respective Affiliates under this Section are in addition to other rights and remedies (including other rights
of setoff) that such Lender, the L/C Issuer or their respective Affiliates may have. Each Lender and the L/C Issuer agrees to notify
the Borrower and the Administrative Agent promptly after any such setoff and application; provided that the failure to give
such notice shall not affect the validity of such setoff and application.

 

11.09         Interest
Rate Limitation. Notwithstanding anything to the contrary contained in any Loan Document, the interest paid or agreed to be
paid under the Loan Documents shall not exceed the maximum rate of non-usurious interest permitted by applicable Law (the “Maximum
Rate”). If the Administrative Agent or any Lender shall receive interest in an amount that exceeds the Maximum Rate,
the excess interest shall be applied to the principal of the Loans or, if it exceeds such unpaid principal, refunded to the Borrower.
In determining whether the interest contracted for, charged, or received by the Administrative Agent or a Lender exceeds the Maximum
Rate, such Person may, to the extent permitted by applicable Law, (a) characterize any payment that is not principal as an expense,
fee, or premium rather than interest, (b) exclude voluntary prepayments and the effects thereof, and (c) amortize, prorate, allocate,
and spread in equal or unequal parts the total amount of interest throughout the contemplated term of the Obligations hereunder.

 

11.10         Counterparts;
Integration; Effectiveness. This Agreement may be executed in counterparts (and by different parties hereto in different counterparts),
each of which shall constitute an original, but all of which when taken together shall constitute a single contract. This Agreement,
and the other Loan Documents constitute the entire contract among the parties relating to the subject matter hereof and supersede
any and all previous agreements and understandings, oral or written, relating to the subject matter hereof. Except as provided
in Section 4.01, this Agreement shall become effective when it shall have been executed by the Administrative Agent and
when the Administrative Agent shall have received counterparts hereof that, when taken together, bear the signatures of each of
the other parties hereto. Delivery of an executed counterpart of a signature page of this Agreement by telecopy or other electronic
imaging means shall be effective as delivery of a manually executed counterpart of this Agreement.

 

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11.11         Survival
of Representations and Warranties. All representations and warranties made hereunder and in any other Loan Document or other
document delivered pursuant hereto or thereto or in connection herewith or therewith shall survive the execution and delivery hereof
and thereof. Such representations and warranties have been or will be relied upon by the Administrative Agent and each Lender,
regardless of any investigation made by the Administrative Agent or any Lender or on their behalf and notwithstanding that the
Administrative Agent or any Lender may have had notice or knowledge of any Default at the time of any Credit Extension, and shall
continue in full force and effect as long as any Loan or any other Obligation hereunder shall remain unpaid or unsatisfied or any
Letter of Credit shall remain outstanding.

 

11.12         Severability.
If any provision of this Agreement or the other Loan Documents is held to be illegal, invalid or unenforceable, (a) the legality,
validity and enforceability of the remaining provisions of this Agreement and the other Loan Documents shall not be affected or
impaired thereby and (b) the parties shall endeavor in good faith negotiations to replace the illegal, invalid or unenforceable
provisions with valid provisions the economic effect of which comes as close as possible to that of the illegal, invalid or unenforceable
provisions. The invalidity of a provision in a particular jurisdiction shall not invalidate or render unenforceable such provision
in any other jurisdiction. Without limiting the foregoing provisions of this Section 11.12, if and to the extent that the
enforceability of any provisions in this Agreement relating to Defaulting Lenders shall be limited by Debtor Relief Laws, as determined
in good faith by the Administrative Agent, the L/C Issuer or the Swing Line Lender, as applicable, then such provisions shall be
deemed to be in effect only to the extent not so limited.

 

11.13         Replacement
of Lenders. If any Lender requests compensation under Section 3.04, or if the Borrower is required to pay any additional
amount to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 3.01, or
if any Lender is a Defaulting Lender, or if any Lender delivers a notice under Section 2.14(c), or
if any other circumstance exists hereunder that gives the Borrower the right to replace a Lender as a party hereto, then
the Borrower may, at its sole expense and effort, upon notice to such Lender and the Administrative
Agent, require such Lender to assign and delegate, without recourse (in accordance with and subject to the restrictions contained
in, and consents required by, Section 11.06), all of its interests, rights and obligations under this Agreement and the
related Loan Documents to an assignee that shall assume such obligations (which assignee may be another Lender, if a Lender accepts
such assignment), provided that:

 

(a)          the
Borrower shall have paid to the Administrative Agent the assignment fee specified in Section
11.06(b);

 

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(b)          such
Lender shall have received payment of an amount equal to 100% of the outstanding principal of its Loans and L/C Advances, accrued
interest thereon, accrued fees and all other amounts payable to it hereunder and under the other Loan Documents (including any
amounts under Section 3.05) from the assignee (to the extent of such outstanding principal and accrued interest and fees)
or the Borrower (in the case of all other amounts);

 

(c)          in
the case of any such assignment resulting from a claim for compensation under Section 3.04 or payments required to be made
pursuant to Section 3.01, such assignment will result in a reduction in such compensation or payments thereafter; and

 

(d)          such
assignment does not conflict with applicable Laws.

 

A Lender shall not
be required to make any such assignment or delegation if, prior thereto, as a result of a waiver by such Lender or otherwise, the
circumstances entitling the Borrower to require such assignment and delegation cease to apply.

 

11.14         Governing
Law; Jurisdiction; Etc.

 

(a)          This
Agreement, the Notes and the other Loan Documents, unless otherwise expressly set forth therein, shall be governed by, construed
and enforced in accordance with the laws of the State of Georgia, without giving effect to the conflict of law principles thereof.

 

(b)          Each
of the parties hereto hereby irrevocably consents to the personal jurisdiction of the state and federal courts located in Fulton
County, Georgia, in any action, claim or other proceeding arising out of any dispute in connection with this Agreement, the Notes
and the other Loan Documents, any rights or obligations hereunder or thereunder, or the performance of such rights and obligations.
Each of the parties hereto hereby irrevocably consents to the service of a summons and complaint and other process in any action,
claim or proceeding brought by any other party hereto in connection with this Agreement, the Notes or the other Loan Documents,
any rights or obligations hereunder or thereunder, or the performance of such rights and obligations, on behalf of itself or its
property, in the manner specified in Section 11.02. Nothing in this Section 11.14 shall affect the right of any of
the parties hereto to serve legal process in any other manner permitted by Applicable Law or affect the right of any of the parties
hereto to bring any action or proceeding against any other party hereto or its properties in the courts of any other jurisdictions.

 

11.15         Waiver
of Jury Trial. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT
MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY
OTHER LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH
PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PERSON HAS REPRESENTED, EXPRESSLY OR OTHERWISE,
THAT SUCH OTHER PERSON WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT
IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS BY, AMONG OTHER THINGS,
THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION.

 

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11.16         No
Advisory or Fiduciary Responsibility. In connection with all aspects of each transaction contemplated hereby (including in
connection with any amendment, waiver or other modification hereof or of any other Loan Document), the Borrower acknowledges and
agrees that: (i) (A) the arranging and other services regarding this Agreement provided by the
Administrative Agent and the Arrangers, are arm’s-length commercial transactions between
the Borrower and its Affiliates, on the one hand, and the Administrative Agent and the
Arrangers, , on the other hand, (B) the Borrower has consulted its own legal, accounting, regulatory
and tax advisors to the extent it has deemed appropriate, and (C) the Borrower is capable of evaluating, and understands and accepts,
the terms, risks and conditions of the transactions contemplated hereby and by the other Loan Documents; (ii) (A) the Administrative
Agent and each Arranger each is and has been acting
solely as a principal and, except as expressly agreed in writing by the relevant parties, has not been, is not, and will not be
acting as an advisor, agent or fiduciary for the Borrower or any of its Affiliates, or
any other Person and (B) neither the Administrative Agent nor any Arranger has any obligation to the Borrower
or any of its Affiliates with respect to the transactions contemplated hereby except those obligations expressly set
forth herein and in the other Loan Documents; and (iii) the Administrative Agent and the Arrangers
and their respective Affiliates may be engaged in a broad range of transactions that involve interests that differ from those of
the Borrower and its Affiliates, and neither the Administrative Agent nor
any Arranger has any obligation to disclose any of such interests to the Borrower or its
Affiliates. To the fullest extent permitted by law, the Borrower hereby waives and releases any
claims that it may have against the Administrative Agent and the Arrangers with respect to any
breach or alleged breach of agency or fiduciary duty in connection with any aspect of any transaction contemplated hereby.

 

11.17         Electronic
Execution of Assignments and Certain Other Documents. The words “execution,” “signed,” “signature,”
and words of like import in any Assignment and Assumption or in any amendment or other modification hereof (including waivers and
consents) shall be deemed to include electronic signatures, the electronic matching of assignment terms and contract formations
on electronic platforms approved by the Administrative Agent, or the keeping of records in electronic form, each of which shall
be of the same legal effect, validity or enforceability as a manually executed signature or the use of a paper-based recordkeeping
system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures
in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws
based on the Uniform Electronic Transactions Act.

 

11.18         USA
PATRIOT Act. Each Lender that is subject to the Act (as hereinafter defined) and the Administrative Agent (for itself and not
on behalf of any Lender) hereby notifies the Borrower that pursuant to the requirements of the USA PATRIOT Act (Title III of Pub.
L. 107-56 (signed into law October 26, 2001)) (the “Act”), it is required to obtain, verify and record information
that identifies the Borrower, which information includes the name and address of the Borrower and other information that will allow
such Lender or the Administrative Agent, as applicable, to identify the Borrower in accordance with the Act. The Borrower shall,
promptly following a request by the Administrative Agent or any Lender, provide all documentation and other information that the
Administrative Agent or such Lender requests in order to comply with its ongoing obligations under applicable “know your
customer” and anti-money laundering rules and regulations, including the Act.

 

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11.19         No
Letters of Credit and Swing Line Loans. NOTWITHSTANDING ANY PROVISIONS OF ANY LOAN DOCUMENT TO THE CONTRARY, INCLUDING,
IN PARTICULAR, SECTIONS 2.03 AND 2.04, BY ITS SIGNATURE BELOW, EACH OF THE PARTIES HERETO ACKNOWLEDGES, UNDERSTANDS
AND AGREES THAT, DURING THE TERM OF THIS AGREEMENT, THE BORROWER SHALL NOT (AND SHALL NOT BE PERMITTED TO) REQUEST, AND NEITHER
THE L/C ISSUER NOR ANY LENDER SHALL BE UNDER ANY OBLIGATION (NOR HAVE ANY COMMITMENT) TO ISSUE, MAKE OR OTHERWISE PARTICIPATE IN,
ANY LETTER OF CREDIT OR ANY SWING LINE LOAN.

 

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

 

	 	EQUIFAX INC.
	 	 	 
	 	By:	 
	 	 	 
	 	Name:	 
	 	 	 
	 	Title:	 

 

Credit Agreement

 

    	 

    	 

    

 

	 	bank of america, n.a., as 

Administrative Agent
	 	 	 
	 	By:	 
	 	 	 
	 	Name:	 
	 	 	 
	 	Title:	 

 

Credit Agreement

 

    	 

    	 

    

 

	 	bank of america, n.a., as a Lender, L/C

Issuer and Swing Line Lender
	 	 	 
	 	By:	 
	 	 	 
	 	Name:	 
	 	 	 
	 	Title:	 

 

Credit Agreement

 

    	 

    	 

    

 

	 	JPMORGAN CHASE BANK, N.A., as a Lender
	 	 	 
	 	By:	 
	 	 	 
	 	Name:	 
	 	 	 
	 	Title:	 

 

Credit Agreement

 

    	 

    	 

    

 

	 	SUNTRUST BANK, as a Lender
	 	 	 
	 	By:	 
	 	 	 
	 	Name:	 
	 	 	 
	 	Title:	 

 

Credit Agreement

 

    	 

    	 

    

 

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

 

Credit AgreementJ. A. Nicholson

Oil & Gas Consulting

 

	306 W. Wall, Suite 520	 
	Midland, Texas   79701	432-683-0940

 

February 22, 2012

 

Mr. Kenny Hill

Chief Executive Officer

Victory Energy Corporation

3355 Bee Caves Road, Suite 608

Austin, Texas 78746

 

Mr. Mark Biggers

Chief Financial Officer

Victory Energy Corporation

3355 Bee Caves Road, Suite 608

Austin, Texas 78746

 

Dear Sirs:

 

Per your request an oil and gas reserve and economic appraisal
has been performed for the properties owned by Victory Energy Corporation (Victory) and listed on Exhibit A. The objective of this
study is to estimate reserves and value for these properties as of January 1, 2012. The methodology, assumptions and results of
the study are discussed below.

 

With the assumptions discussed below the reserves and value
for the Victory wells as of January 1, 2012 are estimated as: 

 

	SEC Case, As of 1/1/2012
	 
	Total Proved Reserves	 
	      Oil, MBO	8.0
	      Gas, MMCF	691.1
	 	 
	Total Proved Value	 
	      PW@ 0%, $	$ 2,742,050
	      PW@ 15%, $	$ 1,083,520

 

This report is intended to serve as the Victory Energy Corporation
report for the United States Securities and Exchange Commission (SEC) to cover the year of 2011.

 

 

    	 

    	 

    

 

Property Overview

 

The properties consist of 15 wells in four West Texas counties.

 

		·	Nine wells are in Crockett County, Texas and are operated for Victory by Cambrian Management. These gas wells are completed
in the Canyon sand formation. Six of the wells were drilled in 2007 and working interest purchased by Victory in January, 2008.
Victory acquired an additional 50% working interest in the Adams 127 #14 in February, 2009. Three additional wells were drilled
by Victory during 2008. The first production date for all wells is shown on Exhibit A.

		·	Three wells are “Wolfberry” completions located in Howard County. All three wells were drilled in 2011 by Clear
Water Inc. Victory has acquired a 1.5% working interest in these wells and the accompanying acreage.

		·	Two wells are operated by CO Energy and are located in Jones County. The wells were completed during 2011 at a depth around
5000 ft. The Young #1 is completed in the Caddo Formation and the Olson #1 is completed in the Mississippian Formation.

		·	The final well is the University 6#1drilled by V-F Petroleum and completed in July 2011. The well is an Ellenburger completion
at a depth of 6855 ft. and is located in Pecos County.

 

It is estimated that the monthly net cashflow for January 2012
was $24,500. Net production for the month is estimated as 3 BOPD and 125 MCFD.

 

Data

 

Data furnished or available for this analysis
included well drilling reports, logs, test data, operating costs, and revenue statements. Production data was obtained from the
Texas Railroad Commission records and was supplemented by the Operators as needed. Monthly prices received for the gas and oil
produced were obtained from check summaries and confirmed from the State of Texas tax records as reported by DrillingInfo.com,
a commercial oil and gas information service.

 

The properties evaluated are listed on the attached Exhibit
A. No attempt was made as part of this evaluation to verify ownership of the interests through detailed title work. The interests
are accepted as presented by Victory. Victory has confirmed they expect to receive revenue and pay costs based on the interests
provided and shown on Exhibit A.

 

Assumptions and Methodology

 

All estimated reserves contained in this
report are expressed as gross and net reserves on all properties. Net reserves represent those reserves attributable to the appraised
interest. Values for reserves are expressed in terms of future net revenue and present worth of future net revenue. Future net
revenue is defined as revenue accruing to the appraised interests from production and sale of the estimated net reserves after
deducting production taxes and operating expenses. Present worth (PW) is defined as the future net revenue discounted at a set
discount rate compounded daily. All values are calculated as of January 1, 2012.

 

    	2

    	 

    
 

 

No plugging costs or salvage values were
considered in this evaluation, nor was any consideration given to Federal income tax.

 

The properties evaluated for this analysis
have proved developed reserves as defined by the Society of Petroleum Engineers. The reserve guidelines as published by the SPE
in March 1997 (attached) are being used for this analysis.

 

Production forecasts were made using methods
appropriate for the individual property.

 

		·	For the Adams wells in Crockett County the future production rates were estimated using decline
curve analysis in conjunction with a review of offset production. A “type curve” was developed using all wells drilled
by FIML, an active operator in the Adams-Baggett Field, during 2006 and 2007. Decline curve analysis fit the estimated curve shape
to the existing production rates for each well to forecast the well’s future production.

		·	Forecasts for the five wells drilled by Clear Water and CO Energy were based on analogy to offset
wells. Decline curve shapes based on the analogy wells were fit to the existing production for the new wells.

		·	The University 6-#1 is believed to have a water drive. The Operator has restricted the production
to avoid excess water production. For this analysis the reserves were estimated using volumetric analysis. A forecast was then
constructed honoring the Operator’s production rate and recovering the estimated reserves in a reasonable time period.

 

The resulting forecasts are shown on the
attached production plots.

 

Cash flow for the individual well cases
were calculated until the monthly cash flow becomes negative; i.e., costs exceed revenue and the well is not economic. The individual
cases were summed to produce the total value.

 

Using SEC guidelines in place for 2011,
the gas and oil prices for this analysis were set at the average monthly price received for 2011. If the well had produced for
only part of the year, the appropriate average price for the year was estimated using NYMEX pricing and calculated differentials
for the missing months. The resulting pricing is shown on Exhibit B.

 

Actual 2011 lease operating costs (LOE)
for the properties were furnished for this review. Per SEC guidelines the operating costs are held constant for the life of the
wells. Values used are shown on Exhibit B.

 

 

    	3

    	 

    

 

 

Results

 

The value and reserves for the fifteen
wells are summarized above. All reserves are classified as Proved Developed Producing (PDP). Expanding on the summary, the estimated
value and reserves over the life of the wells are:

 

	Net Oil, MBO	 	 	8.0
	Net Gas, MMCF	 	 	691.1
	Net Revenue, $	 	$	5,198,500
	Expenses, $	 	$	1,957,540
	Taxes, $	 	$	498,900
	Net Income, $	 	$	2,742,050
	 	 	 	 
	Present Worth Profile	 	 	 
	Disc 10%, $	 	$	1,357,440
	Disc 12%, $	 	$	1,232,500
	Disc 15%, $	 	$	1,083,520

 

Detailed cashflow sheets are attached, including summary analysis
of the total reserves and individual well analysis. A listing of the reserves, costs, and value for each well, a one-liner, is
also attached.

 

Qualifications

 

The value estimated in this report is based
on the assumption that the properties are not adversely affected by the existence of any hazardous substances or detrimental environmental
conditions. No field inspection was made of the properties as part of this review.

 

This study was performed using industry-accepted
principles of engineering and evaluation that are predicated on established scientific concepts. However, the application of such
principles involves extensive judgment and assumptions and is subject to changes in performance data, technical knowledge, economic
conditions and statutory provisions. Consequently, reserve estimates and future value are furnished with the understanding that
actual performance of the wells could vary from that predicted.

 

 

Sincerely,

  

 

 

	James A. Nicholson	J. A. Nicholson Consulting
	P.E. # 81351	F-7827

 

    	4

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