Document:

EX-4.1

 Exhibit 4.1 
 EXECUTION COPY 
 QUEBECOR MEDIA INC.

 as Borrower 
 - and – 
 THE FINANCIAL INSTITUTIONS IDENTIFIED 

ON THE SIGNATURE PAGES HERETO 
 as Lenders 
 - and - 

MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED 
 - and - 
 TD SECURITIES 

- and - 
 THE
BANK OF NOVA SCOTIA 
 as Joint Lead Arrangers and Joint Bookmanagers 

- and - 
 BANK
OF AMERICA, N.A. 
 as Administrative Agent 
 - and - 
 THE TORONTO-DOMINION BANK 

- and - 
 THE
BANK OF NOVA SCOTIA 
 as Syndication Agent 
 - and - 
 ROYAL BANK OF CANADA 

- and - 

CAISSE CENTRALE DESJARDINS 
 as Documentation Agent 
  

 
 Revolving Facility -
C$300,000,000 
 SECOND AMENDMENT TO THE AMENDED AND RESTATED CREDIT AGREEMENT DATED JUNE 14, 2013 

June 24, 2016 
  

 
  
  

 

 SECOND AMENDMENT TO THE AMENDED AND RESTATED CREDIT AGREEMENT DATED JUNE 14, 2013 entered into
in Montréal, Province of Quebec, as of June 24, 2016. 
 Second Amendment to that certain amended and restated
credit agreement dated as of June 14, 2013 between Quebecor Media Inc., as Borrower, Bank of America, N.A., as Administrative Agent, and the several financial institutions from time to time party thereto, as Lenders (as amended, restated,
amended and restated, supplemented, replaced or otherwise modified at any time and from time to time, including by way of that certain First Amendment to the Amended and Restated Credit Agreement dated August 1, 2013, the “Amended and
Restated Credit Agreement”); 
 WHEREAS the parties hereto wish to amend the Amended and Restated Credit
Agreement in accordance with the terms and conditions below, without novation; 
 WHEREAS effective concurrently with the
coming into force and effect of this Second Amendment, Goldman Sachs Lending Partners LLC will have sold and assigned all of its rights, obligations and interest under the Amended and Restated Credit Agreement and the other Credit Documents (as
defined in the Amended and Restated Credit Agreement) in accordance with the provisions of Section 12.08 of the Amended and Restated Credit Agreement; and 
 WHEREAS, in satisfaction of the requirements under the Amended and Restated Credit Agreement, all of the Revolving Lenders have provided their requisite written consent to the Administrative Agent
in connection with the amendments provided for herein. 
 NOW THEREFORE, for good and valuable consideration (the receipt
and sufficiency of which are hereby acknowledged), the parties hereto agree as follows: 
  

	1.	Interpretation. 

  

	 	1.1	The preamble forms an integral part hereof as if recited herein at length. 

 

	 	1.2	Capitalized terms used and not otherwise defined herein have the meanings ascribed thereto in the Amended and Restated Credit Agreement. 

 

	 	1.3	This Second Amendment to the Amended and Restated Credit Agreement is declared to amend and be supplemental to the Amended and Restated Credit Agreement, to form part
thereof and to have the same effect as if it were incorporated therein on the date hereof. Except to the extent that it is amended and supplemented by this Second Amendment to the Amended and Restated Credit Agreement, the Amended and Restated
Credit Agreement forms part hereof and is included by reference herein with the same effect as if it were recited herein at length. All the other provisions of the Amended and Restated Credit Agreement which are unmodified hereby remain unchanged.

  

	 	1.4	 The expressions “hereto”, “hereof”, “herein”, “hereunder”, “this Amendment”, “this Second
Amendment” or “this Agreement” refer to this Second Amendment to the Amended and Restated Credit Agreement. On and after this date, each 

	 	
reference in the Amended and Restated Credit Agreement to “this Agreement” or “this Amended and Restated Credit Agreement” and each reference to the “Amended and Restated
Credit Agreement” in any of the other Credit Documents and any other agreements, documents, certificates and instruments delivered by any Lender, the Borrower, or any other Person in connection herewith or therewith shall mean and be a
reference to the Amended and Restated Credit Agreement as amended by this Amendment. Except as specifically amended by this Amendment, the Amended and Restated Credit Agreement shall remain in full force and effect and is hereby ratified and
confirmed. 

  

	 	1.5	This Amendment shall constitute a Credit Document. 

  

	2.	Amendments to the Amended and Restated Credit Agreement. 

  

	 	2.1	Section 1.01 of the Amended and Restated Credit Agreement is hereby amended as follows: 

 

	 	2.1.1	by deleting the defined term “Consolidated EBITDA” and replacing it with the following: 

““Consolidated EBITDA” means, (i) for purposes of Facility B and any calculation or other determination
relating to Facility B, for any Person, for any period and without duplication, earnings of such Person on a consolidated basis before non-controlling interests, earnings from equity accounted investments, extraordinary items, non-recurring gains or
losses on debt extinguishment and asset sales, non-cash charges for non-recurring restructuring charges, cash charges for non-recurring restructuring charges to the extent such cash charges are in an aggregate amount of less than C$52,000,000 during
the period commencing on October 1, 2012, Consolidated Interest Charges, foreign exchange translation gains or losses not involving the payment of cash, amortization of deferred financing costs and other non-cash financial charges, taxes,
depreciation, amortization (including write-down of assets), without taking into account any goodwill adjustments, calculated on a consolidated basis, and otherwise calculated in accordance with GAAP; for greater certainty, there shall be excluded
from the calculation of “Consolidated EBITDA” to the extent included in such calculation, the amount of any income or expense relating to Back-to-Back Securities; and (ii) for purposes of the Revolving Facility and any calculation or
other determination relating to the Revolving Facility, for any Person, for any period and without duplication, earnings of such Person on a consolidated basis before non-controlling interests, earnings from equity accounted investments,
extraordinary items, non-recurring gains or losses on debt extinguishment and asset sales, non-cash charges for non-recurring restructuring charges, cash charges for non-recurring restructuring charges, Consolidated Interest Charges, foreign
exchange translation gains or losses not involving the payment of cash, 

  
 - 2 -

 
amortization of deferred financing costs and other non-cash financial charges, taxes, depreciation, amortization (including write-down of assets), without taking into account any goodwill
adjustments, calculated on a consolidated basis, and otherwise calculated in accordance with GAAP; for greater certainty, there shall be excluded from the calculation of “Consolidated EBITDA” to the extent included in such calculation, the
amount of any income or expense relating to Back-to-Back Securities. 
 Consolidated EBITDA shall (A) exclude the EBITDA of
(a) any Person and (b) every division, line of business or group of operating assets used in carrying on a distinct business (collectively called an “Operating Business”) that (in the case of either (a) or (b) above) no
longer belong to the Borrower or a Subsidiary of the Borrower (a “Former Contributor”) on the last day of such period which would otherwise be included in such consolidated results of operations of the Borrower because such Former
Contributor or Operating Business, as the case may be, has been disposed of during such period; and (B) include the EBITDA for such period of each Person and of every Operating Business that, during such period, became (or, in the case of an
Operating Business, became part of) the Borrower or of a Subsidiary of the Borrower and which is (or is comprised within) the Borrower or a Subsidiary of the Borrower on the last day of such period on a proforma basis for such period, based on
audited historical results of operations, or, if unavailable, reasonable projections satisfactory to the Administrative Agent.”; 
  

	 	2.1.2	by deleting the text “.” at the end of the defined term “LIBOR” and replacing it with the following text: 

“, and provided further that at no time shall LIBOR for any Designated Period relating to a Libor Advance under the Revolving
Facility be less than the Revolving Facility Libor Floor.”; and 
  

	 	2.1.3	by deleting the defined term “Term” and replacing it with the following: 

““Term” means the period commencing on the Closing Date and terminating with respect to (i) the Revolving
Facility, on July 15, 2020 and (ii) Facility B-1 Tranche, on August 17, 2020.”. 
  

	 	2.2	Section 1.01 of the Amended and Restated Credit Agreement is hereby further amended by inserting the following new definitions in the appropriate alphabetical
order: 

 “Defaulting Revolving Lender” means any Revolving Lender that (a) has failed to
(i) fund all or any portion of its Accommodations within two Business Days of the date such Accommodations were required to be funded hereunder unless such Revolving Lender notifies the Administrative Agent and the Borrower in writing that such
failure is the result of such Revolving Lender’s determination that one or more 

  
 - 3 -

 
conditions precedent to funding (each of which conditions precedent, together with any applicable default, shall be specifically identified in such writing) has not been satisfied, or
(ii) pay to the Administrative Agent, or any other Lender any other amount required to be paid by it hereunder within two Business Days of the date when due, (b) has notified the Borrower, the Administrative Agent or the Lenders in writing
that it does not intend to comply with its funding obligations hereunder, or has made a public statement to that effect (unless such writing or public statement relates to such Revolving Lender’s obligation to fund an Accommodation hereunder
and states that such position is based on such Revolving Lender’s determination that a condition precedent to funding (which condition precedent, together with any applicable default, shall be specifically identified in such writing or public
statement) cannot be satisfied), (c) has failed, within three Business Days after written request by the Administrative Agent or the Borrower, to confirm in writing to the Administrative Agent and the Borrower that it will comply with its
prospective funding obligations hereunder (provided that such Revolving Lender shall cease to be a Defaulting Revolving Lender pursuant to this clause (c) upon receipt of such written confirmation by the Administrative Agent and the Borrower),
or (d) has, or has a direct or indirect parent company that has, (i) become the subject of a proceeding under any Debtor Relief Law, or (ii) had appointed for it a receiver, custodian, conservator, trustee, administrator, assignee for
the benefit of creditors or similar Person charged with reorganization or liquidation of its business or assets, including any, provincial, state or federal regulatory authority acting in such a capacity; provided that a Revolving Lender shall not
be a Defaulting Revolving Lender solely by virtue of the ownership or acquisition of any equity security in that Revolving Lender or any direct or indirect parent company thereof by a Governmental Entity so long as such ownership interest does not
result in or provide such Revolving Lender with immunity from the jurisdiction of courts within Canada or from the enforcement of judgments or writs of attachment on its assets or permit such Revolving Lender (or such Governmental Entity) to reject,
repudiate, disavow or disaffirm any contracts or agreements made with such Revolving Lender. Any determination by the Administrative Agent that a Revolving Lender is a Defaulting Revolving Lender under any one or more of clauses (a) through
(d) above, and of the effective date of such status, shall be conclusive and binding absent manifest error, and such Revolving Lender shall be deemed to be a Defaulting Revolving Lender as of the date established therefor by the Administrative
Agent in a written notice of such determination, which shall be delivered by the Administrative Agent to the Borrower and each other Lender promptly following such determination. 

“Revolving Facility Libor Floor” means 0%. 

  
 - 4 -

	 	2.3	Section 2.07(1) of the Amended and Restated Credit Agreement is hereby amended by adding the text “(other than Defaulting Revolving Lenders)” immediately
after the text “Revolving Lenders”. 

  

	 	2.4	Section 2.08(1) of the Amended and Restated Credit Agreement is hereby amended by deleting the text “not later than 10:00 a.m. (Toronto time)” therein
and replacing it with the text “not later than, (i) with respect to any payment relating to the Facility B-1 Tranche, 10:00 a.m. (Toronto time), and (ii) with respect to any payment relating to the Revolving Facility and the Facility
B-2 Tranche, 12:00 p.m. (Toronto time)”. 

  

	 	2.5	Section 3.02(1) of the Amended and Restated Credit Agreement is hereby amended by deleting the text “not later than 10:00 a.m. (Toronto time)” therein
and replacing it with the text “not later than, (x) with respect to any notice relating to the Facility B-1 Tranche, 10:00 a.m. (Toronto time), and (y) with respect to any notice relating to the Revolving Facility and the Facility B-2
Tranche, 12:00 p.m. (Toronto time)”. 

  

	 	2.6	Section 4.03(1) of the Amended and Restated Credit Agreement is hereby amended by deleting the text “not later than 10:00 a.m. (Toronto time)” therein
and replacing it with the text “not later than 12:00 p.m. (Toronto time)”. 

  

	 	2.7	Section 4.05(1)(iii) of the Amended and Restated Credit Agreement is hereby amended by deleting the text “on or before 10:00 a.m. (Toronto time)” therein
and replacing it with the text “on or before 12:00 p.m. (Toronto time)”. 

  

	 	2.8	Section 5.02(1) of the Amended and Restated Credit Agreement is hereby amended by deleting the text “At or before 10:00 a.m. (Toronto time)” therein and
replacing it with the text “At or before 12:00 p.m. (Toronto time)”. 

  

	 	2.9	Section 8.02(k) of the Amended and Restated Credit Agreement is hereby deleted and replaced with the text “Intentionally Deleted.”.

  

	 	2.10	Section 12.11 of the Amended and Restated Credit Agreement is hereby amended by adding the following new paragraph at the end thereof: 

“If any Lender is a Defaulting Revolving Lender, then the Borrower may, at its sole cost and expense, upon 10 days’ notice to
such Defaulting Revolving Lender and the Administrative Agent, on the condition that at such time, no Default exists and is continuing, require such Defaulting Revolving Lender to assign and delegate, without recourse (in accordance with and subject
to the restrictions contained in, and consents required by, Section 12.08), all of its interests, rights and obligations under this Agreement and the other Credit Documents to an Eligible Assignee that shall assume such obligations (which
assignee may be another Lender, if a Lender accepts such assignment), provided that the assigning Defaulting Revolving Lender receives payment of an amount equal to the outstanding principal of its outstanding Accommodations Outstanding, accrued
interest thereon, accrued fees and all other amounts payable to it 

  
 - 5 -

 
hereunder (including any breakage costs, if any, contemplated under Section 12.06(4)) 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). 
 A Defaulting Revolving Lender shall not be required to make any such assignment
or delegation if, prior thereto, the circumstances entitling the Borrower to require such assignment and delegation cease to apply.”. 
  

	3.	Assignment and Assumption. 

 Effective
concurrently with the coming into force and effect of this Second Amendment and as a condition of same, Goldman Sachs Lending Partners LLC shall sell and assign, inter alios, all of its Commitments under the Credit Facilities to
JPMorgan Chase Bank, N.A. who shall purchase and assume the same, the whole in accordance with Section 12.08 of the Amended and Restated Credit Agreement and as more fully set forth in the Assignment and Assumption Agreement attached hereto as
Exhibit A. 
  

	4.	Conditions Precedent. 

 This Amendment
shall not be in force or effect until the following conditions precedent are met to the satisfaction of the Administrative Agent and the Revolving Lenders: 
  

	 	4.1	no Default or Event of Default shall have occurred or be continuing or would arise immediately after giving effect to or as a result of this Amendment, and the
Administrative Agent shall have received a certificate of an acceptable officer of the Borrower confirming the absence of any such Default or Event of Default; 

 

	 	4.2	all of the representations and warranties contained in the Amended and Restated Credit Agreement and the other Credit Documents shall continue to be true and correct in
all material respects on the date hereof (other than representations and warranties made as of a certain date) as if such representations and warranties were made on the date of this Amendment, and the Administrative Agent shall have received a
certificate of an acceptable officer of the Borrower confirming same; 

  

	 	4.3	satisfactory confirmation that no Material Adverse Effect shall have occurred since December 31, 2015, and the Administrative Agent shall have received a
certificate of an acceptable officer of the Borrower confirming same; 

  

	 	4.4	the Administrative Agent and the Revolving Lenders shall have received, in form and substance satisfactory to them and their counsel: 

 

	 	4.4.1	duly executed counterparts of this Amendment; 

  

	 	4.4.2	 results of Lien searches from August 1, 2013 to a date reasonably close to the date of this Amendment, of all filings, registrations or recordings
of or with respect to all the movable assets of the Borrower and its predecessors in each jurisdiction in which its assets are located or have an 

  
 - 6 -

	 	
office, together with such other documents that the Administrative Agent shall require evidencing, to the entire satisfaction of the Administrative Agent and its counsel, that all such movable
assets continue to remain free and clear of all Liens, other than Permitted Liens; 

  

	 	4.4.3	a duly certified copy of the constating documents, by-laws, resolutions and incumbency of the Borrower, certified by an acceptable officer of the Borrower (or to the
extent all amendments or additions to such constating documents, by-laws, resolutions and incumbency, if any, have heretofore been delivered to the Administrative Agent, a certificate by an acceptable officer of the Borrower attesting to same);

  

	 	4.4.4	a certificate of status, compliance, good standing or like certificate issued by the appropriate governmental body of the Borrower’s jurisdiction of incorporation
and jurisdiction where it owns any material assets or carries any material business; 

  

	 	4.4.5	the favourable opinions of legal counsel to the Borrower addressed to the Administrative Agent, the Revolving Lenders and their legal counsel covering, inter
alia, (i) the corporate status, power and capacity of the Borrower, (ii) the authority and legal right of the Borrower to execute this Amendment and to perform its obligations contained therein or incidental thereto, (iii) the due
execution and delivery by the Borrower of the Amendment, (iv) the compliance of the Amendment with the constating documents and by-laws of the Borrower and with the laws of the jurisdiction of
organisation of the Borrower and with those indicated as governing each such document; (v) the legality, validity, binding effect and enforceability against the Borrower of the Amendment; (vi) the continued legality, validity, binding
effect and enforceability of the Security Documents against the Borrower as continuing to secure the obligations of the Borrower under this Amendment and the other Credit Documents; (vii) the continued opposability and perfection of the
security created under the relevant Security Documents; and as to such other matters as the Administrative Agent may reasonably require; 

  

	 	4.4.6	satisfactory evidence that all necessary third party consents and authorisations required in connection with the execution, delivery and performance of this Amendment
have been obtained, and that all debentures, hypothecs, deeds, instruments, forms, financing statements or equivalent documents required under all applicable Laws to preserve the Security, if any, have been executed, delivered and duly registered,
recorded, published and/or filed; and 

  

	 	4.4.7	all other documents, declarations, certificates, agreements, notices and information that the Administrative Agent or its counsel may reasonably require;

  
 - 7 -

	 	4.5	the entire amount of all fees, costs, charges and expenses contemplated herein or in any other Credit Document, to the extent then owing, including (a) the upfront
fees referred to in the Borrower’s request letter dated June 8, 2016, and (b) the fees and disbursements of the Administrative Agent’s and Revolving Lenders’ legal counsel incurred in connection with the preparation and
negotiation of this Amendment, up to and including the date hereof, shall have been paid. 

  

	5.	No Waiver. 

 The execution, delivery and
effectiveness of this Amendment shall not, except as expressly provided otherwise, operate as a waiver of any of the rights and powers of or remedies available to the Administrative Agent (in such capacity or in its capacity as collateral agent or
fondé de pouvoir, as applicable) or the Lenders under the Amended and Restated Credit Agreement or any of the other Credit Documents nor constitute a waiver of any provision of the Amended and Restated Credit Agreement or such other
Credit Documents. 
  

	6.	No Novation. 

 Nothing in this Agreement
shall constitute, evidence or result in repayment, readvance, accord or satisfaction, release or novation of all or any part of the Accommodations, the Debt relating to the Accommodations, or any other obligation or liability of the Borrower under,
in respect of or in connection with the Accommodations, the Debt relating to the Accommodations, the Amended and Restated Credit Agreement and any other Credit Documents. However, should this Agreement be construed as constituting, evidencing or
resulting in repayment, readvance, accord or satisfaction, release or novation of all or any part of the Accommodations, the Debt relating to the Accommodations, or any other obligation or liability of the Borrower under, in respect of or in
connection with the Accommodations, the Debt relating to the Accommodations, the Amended and Restated Credit Agreement and any other Credit Documents, the Administrative Agent and the Lenders hereby expressly reserve all of the Security granted in
their favour by the Borrower under the Security Documents, the whole in accordance with the provisions of Article 1662 of the Civil Code of Québec. 
  

	7.	Governing Law. 

 This Amendment shall be
governed by and interpreted and enforced in accordance with the laws of the Province of Quebec and the federal laws of Canada applicable therein. 
  

	8.	Successors and Assigns. 

 The provisions
of this Amendment shall be binding on and enure to the benefit of the undersigned and their respective successors and permitted assigns. 
  

	9.	Counterparts. 

 This Amendment may be
executed in any number of counterparts and all of such counterparts taken together shall be deemed to constitute one and the same instrument. 

  
 - 8 -

	10.	Patriot Act. 

 Each Revolving Lender party
hereto and the Administrative Agent hereby notifies the Borrower that pursuant to the requirements of the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act (Title III of Pub. L. 107-56
(signed into law October 26, 2001)) (the “PATRIOT Act”), each Revolving Lender and the Administrative Agent may be 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 Revolving Lender or the Administrative Agent, as applicable, to identify the Borrower in accordance with the PATRIOT Act. This notice is given in accordance with the
requirements of the PATRIOT Act and is effective for each Revolving Lender and the Administrative Agent. 

[Signature pages follow] 

  
 - 9 -

 IN WITNESS WHEREOF the parties hereto have executed this Second Amendment to Amended
and Restated Credit Agreement as of the date hereinabove mentioned. 
  

			
	QUEBECOR MEDIA INC., as Borrower
		
	Per:	 	 /s/ Chloé Poirier

	Name:	 	Chloé Poirier
	Title:	 	Vice President and Treasurer
		
	Per:	 	 /s/ Jean-François Pruneau

	Name:	 	Jean-François Pruneau
	Title:	 	Senior Vice President and Chief Financial Officer
	
	BANK OF AMERICA, N.A., as Administrative Agent
		
	Per:	 	 /s/ Robert Rittelmeyer

	Name:	 	Robert Rittelmeyer
	Title:	 	Vice President

  
 QMI –
Second Amendment to Amended and Restated Credit Agreement 

 
			
	BANK OF AMERICA, N.A., CANADA BRANCH
		
	Per:	 	 /s/ Medina Sales de Andrade

	Name:	 	Medina Sales de Andrade
	Title:	 	Vice President
		
	Per:	 	  

	Name:	 	
	Title:	 	
	
	THE BANK OF NOVA SCOTIA
		
	Per:	 	 /s/ Rob King

	Name:	 	Rob King
	Title:	 	Managing Director
		
	Per:	 	 /s/ Sean Flinn

	Name:	 	Sean Flinn
		 	Associate Director
	
	THE TORONTO-DOMINION BANK
		
	Per:	 	 /s/ (signature)

	Name:	 	
	Title:	 	
		
	Per:	 	 /s/ (signature)

	Name:	 	
	Title:	 	

  
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Second Amendment to Amended and Restated Credit Agreement 

 
			
	CAISSE CENTRALE DESJARDINS DU QUÉBEC
		
	Per:	 	 /s/ Catherine McCarthy

	Name:	 	Catherine McCarthy
	Title:	 	Directeur, Financement corporatif
		 	Director, Corporate Banking
		
	Per:	 	 /s/ Dominique Parizeau

	Name:	 	Dominique Parizeau
		 	Directeur généralGestion du portefeuille, Grandes Entreprises
		 	Managing Director
		 	Portfolio Management, Corporate Banking
	
	ROYAL BANK OF CANADA
		
	Per:	 	 /s/ Pierre Bouffard

	Name:	 	Pierre Bouffard
	Title:	 	Authorized Signatory
		
	Per:	 	  

	Name:	 	
	Title:	 	
	
	CITIBANK, N.A., CANADIAN BRANCH
		
	Per:	 	 /s/ Azita Taravati

	Name:	 	Azita Taravati
	Title:	 	Authorized Signatory
		
	Per:	 	  

	Name:	 	

  
 QMI –
Second Amendment to Amended and Restated Credit Agreement 

 
			
	CANADIAN IMPERIAL BANK OF COMMERCE
		
	Per:	 	 /s/ Philippe Boivin

	Name:	 	Philippe Boivin
	Title:	 	Director
		
	Per:	 	 /s/ Anissa Rabia-Zeribi

	Name:	 	Anissa Rabia-Zeribi
		 	Executive Director
	
	BANK OF MONTREAL
		
	Per:	 	 /s/ Sean P. Gallaway

	Name:	 	Sean P. Gallaway
	Title:	 	Vice President
		
	Per:	 	  

	Name:	 	
	Title:	 	
	
	JPMORGAN CHASE BANK, N.A.
		
	Per:	 	 /s/ Jeffrey Coleman

	Name:	 	Jeffrey Coleman
	Title:	 	Executive Director
		
	Per:	 	  

	Name:	 	

  
 QMI –
Second Amendment to Amended and Restated Credit Agreement 

 
			
	HSBC BANK CANADA
		
	Per:	 	 /s/ Annie Houle

	Name:	 	Annie Houle
	Title:	 	Director
		
	Per:	 	 /s/ Jossia Bélisle

	Name:	 	Jossia Bélisle
	Title:	 	Assistant Vice-President
	
	NATIONAL BANK OF CANADA
		
	Per:	 	 /s/ Luc Bernier

	Name:	 	Luc Bernier
	Title:	 	Managing Director
		
	Per:	 	 /s/ Alexandre Huot

	Name:	 	Alexandre Huot
	Title:	 	Directeur - Director
	
	BANK OF TOKYO-MITSUBISHI UFJ (CANADA)
		
	Per:	 	 /s/ Thomas Isidean

	Name:	 	Thomas Isidean
	Title:	 	Vice President
		
	Per:	 	  

	Name:	 	

  
 QMI –
Second Amendment to Amended and Restated Credit Agreement 

 
			
	LAURENTIAN BANK OF CANADA
		
	Per:	 	 /s/ Guylaine Couture

	Name:	 	Guylaine Couture
	Title:	 	Assistant Vice President
		
	Per:	 	 /s/ Vanessa Thibault

	Name:	 	Vanessa Thibault
		 	Account Manager

  
 QMI –
Second Amendment to Amended and Restated Credit Agreement 

 Exhibit A 
 Assignment and Assumption Agreement 
 Attached 

  
 QMI –
Second Amendment to Amended and Restated Credit Agreement 

 ASSIGNMENT AND ASSUMPTION AGREEMENT 

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

For an agreed consideration, the Assignor hereby irrevocably and ratably sells and assigns to each Assignee, and each Assignee hereby irrevocably
purchases and assumes from the Assignor, subject to and in accordance with the Standard Terms and Conditions and the Credit Agreement, as of the Effective Date referred to below (i) all of the Assignor’s respective rights and obligations
in its capacity as a Lender under the Credit Agreement, the other Credit Documents and any other documents or instruments delivered pursuant thereto to the extent related to the amount and percentage interest identified below the signature of that
Assignee of all the Assignor’s respective outstanding rights and obligations under the Credit Facilities identified below (including without limitation any guarantees and Security included in such facilities) and (ii) to the extent
permitted to be assigned under applicable law, all claims, suits, causes of action and any other rights of the Assignor (in its capacity as a Lender) against any Person, whether known or unknown, arising under or in connection with the Credit
Agreement, any other documents or instruments delivered pursuant thereto or the loan transactions governed thereby or in any way based on or related to any of the foregoing, including, but not limited to, contract claims, tort claims, malpractice
claims, statutory claims and all other claims at law or in equity related to the rights and obligations sold and assigned pursuant to clause (i) above (the rights and obligations sold and assigned pursuant to clauses (i) and
(ii) above being referred to herein collectively as to each Assignee, the “Assigned Interest”). Such sale and assignment is without recourse to the Assignor and, except as expressly provided in this Assignment and
Assumption, without representation or warranty by the Assignor. 
  

					
	1.	  	Assignor:	  	Goldman Sachs Lending Partners LLC
			
	2.	  	Assignees and their Assigned Interests:	  	Listed on the signature pages attached hereto
			
	3.	  	Borrower:	  	Quebecor Media Inc.
			
	4.	  	Administrative Agent:	  	Bank of America, N. A., as the administrative agent under the Credit Agreement referred to below
			
	5.	  	Credit Agreement:	  	The Amended and Restated Credit Agreement dated as of June 14, 2013 among the Borrower named above, the Lenders parties thereto, and the Administrative Agent named
above

	6.	Assigned Interests: 

  

											
	 Facility
 Assigned
	  	Aggregate Amount
of
Commitment/
Accommodations for
all Lenders	  	Amount
of
Commitment/ Assigned
Accommodations	 	  	Percentage Assigned
of
Commitments/
Accommodations	 
	 Revolving Facility
	  	C$300,000,000	  	C$	15,000,000	 	  	 	5	% 

  

					
	7.	  	Effective Date:	  	As to each Assignee, as indicated on attached signature page thereof
			
	8.	  	Trade Date:	  	As to each Assignee, as indicated on attached signature page thereof

 The terms set forth in this Assignment and Assumption are hereby agreed to: 

 

									
	ASSIGNOR:	 		 	GOLDMAN SACHS LENDING PARTNERS LLC	 	
					
		 		 	By:	 	 /s/ Rebecca Kratz
	 	
		 		 	Name:	 	Rebecca Kratz	 	
		 		 	Title:	 	Authorized Signatory	 	
				
	Consent and Acceptance:	 		 	BANK OF AMERICA, N. A.,	 	
		 		 	as Administrative Agent	 	
					
		 		 	By:	 	 /s/ Robert Rittelmeyer
	 	
		 		 	Name:	 	Robert Rittelmeyer	 	
		 		 	Title:	 	Vice President	 	

									
	Consent and Acceptance:	 		 	QUEBECOR MEDIA INC., as Borrower	 	
					
		 		 	By:	 	 /s/ Jean-François Pruneau
	 	
		 		 	Name:	 	Jean-François Pruneau	 	
		 		 	Title:	 	Senior Vice President and Chief Financial Officer	 	

									
	ASSIGNEE:	 		 	JPMORGAN CHASE BANK, N.A.	 	
					
		 		 	By:	 	 /s/ Amita Rodriguez
	 	
		 		 	Name:	 	Amita Rodriguez	 	
		 		 	Title:	 	Authorized Signatory	 	

  

					
	Trade Date:	  	June 24, 2016	  	
			
	Effective Date:	  	June 24, 2016	  	

 ANNEX 1 TO ASSIGNMENT AND ASSUMPTION 

STANDARD TERMS AND CONDITIONS FOR ASSIGNMENT 
 AND ASSUMPTION AGREEMENT 
  

	 	1.	Representations and Warranties. 

 1.1. Assignor. The Assignor (a) represents and warrants that (i) it is the legal and beneficial owner of each Assigned Interest, (ii) each Assigned Interest is free and clear of any
lien, encumbrance or other adverse claim and (iii) it has full power and authority, and has taken all action necessary, to execute and deliver this Assignment and Assumption and to consummate the transactions contemplated hereby; and
(b) assumes no responsibility with respect to (i) any statements, warranties or representations made in or in connection with the Credit Agreement or any other Credit Document, (ii) the execution, legality, validity, enforceability,
genuineness, sufficiency or value of the Credit Documents or any other instrument or document delivered pursuant thereto, other than this Agreement, or any Collateral thereunder, (iii) the financial condition of the Borrower, any of its
Subsidiaries or Affiliates or any other Person obligated in respect of any Credit Document or (iv) the performance or observance by the Borrower, any of its Subsidiaries or Affiliates or any other Person of any of their respective obligations
under any Credit Document. 
 1.2. Assignee. Each Assignee (a) represents and warrants that (i) it has full
power and authority, and has taken all action necessary, to execute and deliver this Assignment and Assumption and to consummate the transactions contemplated hereby and to become a Lender under the Credit Agreement, (ii) it meets all
requirements of an Assignee under the Credit Agreement, (iii) from and after the Effective Date, it shall be bound by the provisions of the Credit Agreement and, to the extent of the Assigned Interest, shall have the obligations of a Lender
thereunder, (iv) it has received a copy of the Credit Agreement, together with copies of the most recent financial statements delivered pursuant to Section 8.01 thereof, as applicable, and such other documents and information as it has
deemed appropriate to make its own credit analysis and decision to enter into this Assignment and Assumption and to purchase the Assigned Interest on the basis of which it has made such analysis and decision independently and without reliance on the
Administrative Agent or any other Lender; and (b) agrees that (i) it will, independently and without reliance on the Administrative Agent, the Assignor or any other Lender, and based on such documents and information as it shall deem
appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Credit Documents, and (ii) it will perform in accordance with their terms all of the obligations which by the terms of the Credit
Documents are required to be performed by it as a Lender. 
 1.3 Assignee’s Address for Notices, Etc. Attached
hereto as Schedule 1 is all contact information, address, phone and facsimile information and account and payment instructions) relative to the Assignee. 

 2. Payments. From and after the Effective Date, the Administrative Agent shall make
all payments in respect of the Assigned Interest (including payments of principal, interest, fees and other amounts) to the Assignor for amounts which have accrued prior to but excluding the Effective Date and to the Assignee for amounts which have
accrued from and after the Effective Date. 
 3. General Provisions. This Assignment and Assumption shall be binding
upon, and inure to the benefit of, the parties hereto and their respective successors and assigns. This Assignment and Assumption may be executed in any number of counterparts, which together shall constitute one instrument. Delivery of an executed
counterpart of a signature page of this Assignment and Assumption by telecopy shall be effective as delivery of a manually executed counterpart of this Assignment and Assumption. This Assignment and Assumption shall be governed by, and construed in
accordance with, the laws applicable in the Province of Quebec. 

 SCHEDULE 1 TO ASSIGNMENT AND ASSUMPTION AGREEMENT 

ADMINISTRATIVE DETAILS 
 [REDACTED]EX-4.7

 Exhibit 4.7 
 FIRST AMENDING AGREEMENT to the Amended and Restated Credit Agreement dated as of June 16, 2015, entered into in the City of Montreal, Province of Quebec, as of June 24, 2016, 

 

			
	AMONG:	  	VIDÉOTRON LTÉE, a company constituted in accordance with the laws of Quebec, having its registered office at 612 St. Jacques Street, 18th floor, in the City of Montreal, Province of Quebec (hereinafter
called the “Borrower”)
		
	AND:	  	THE LENDERS, AS DEFINED IN THE CREDIT AGREEMENT (the “Lenders”)
		
	AND:	  	ROYAL BANK OF CANADA, AS ADMINISTRATIVE AGENT FOR THE LENDERS, a Canadian bank, having a place of business at 200 Bay Street, 12th floor, South Tower, Royal Bank Plaza, in
the City of Toronto, Province of Ontario (hereinafter called the “Agent”)

 WHEREAS the parties hereto are parties to a credit agreement originally dated as of
November 28, 2000, as amended and restated as of July 20, 2011, as amended by a First Amending Agreement dated as of June 14, 2013, a Second Amending Agreement dated as of January 28, 2015, and a Third Amending Agreement creating
an Amended and Restated Credit Agreement dated as of June 16, 2015 (the “Original Credit Agreement”, and as amended pursuant to this Agreement, the “Credit Agreement”); 

WHEREAS the Borrower has requested certain amendments to the Original Credit Agreement to extend the Term of the Revolving
Facility and the Unsecured Facility, provide for a mechanism for future extensions, adjust Margins, increase the amount of the Swing Line Commitment, add US$ borrowings, and other matters; and 

WHEREAS the Lenders have unanimously agreed with the Borrower to the amendments contemplated hereby, and as such, the Lenders have
complied with the provisions of Section 18.14 and 18.15 of the Original Credit Agreement, as evidenced by the signature of each party hereto on this Agreement; 
 NOW THEREFORE, THE PARTIES HERETO AGREE AS FOLLOWS: 
  

	I.	INTERPRETATION 

 All of
the words and expressions which are capitalized herein shall have the meanings ascribed to them in the Original Credit Agreement unless otherwise indicated herein. 

	II.	AMENDMENTS 

 1. Subsection 1.1.5 of the
Original Credit Agreement is amended to add US$ borrowing options, and now provides as follows: 
 “1.1.5
“Advance” means any advance by a Lender under this Agreement, including, with respect to (a) the Revolving Facility, direct Advances by way of Prime Rate Advances, Swing Line Advances, US Base Rate Advances and Libor Advances,
and indirect Advances by way of BA Advances and the issuance of Letters of Credit, (b) the Unsecured Facility, direct Advances by way of Prime Rate Advances, US Base Rate Advances and Libor Advances, and indirect Advances by way of BA Advances
and the issuance of Letters of Credit, and (c) the Finnvera Term Facility, the “Tranche A CDOR Advances” as defined in Schedule “P”.”. 
 2. Subsection 1.1.57 of the Original Credit Agreement is amended to add a reference to a Libor Advance, and now provides as follows: 

“1.1.57 “Designated Period” means, with respect to a Libor Advance or a BA Advance, a period designated by the
Borrower in accordance with Sections 4.11, 6.1 and 6.4, respectively.”. 
 3. New subsections 1.1.96A, 1.1.96B, 1.1.96C and 1.1.96D are
added to the Original Credit Agreement to provide for Libor borrowings, as follows: 
 “1.1.96A “LIBOR”
means, with respect to any Designated Period of 1, 2, 3 or 6 months relating to a Libor Advance under the Revolving Facility or the Unsecured Facility, the average rate for deposits in US$ for a period comparable to the Designated Period which is
quoted on Reuters Screen Libor01 Page, at or about 11:00 a.m. (London, England time), determined two Banking Days prior to the date on which a Libor Advance is to be made in accordance with Section 5.5, provided that if such rate is negative,
it shall be deemed to be nil; if such quote is unavailable, then LIBOR shall be determined by the Agent as the average of the rate at which deposits in US$ for a period similar to the Designated Period and in amounts comparable to the amount of such
Libor Advance are offered by the Libor Reference Lenders to prime banks in the London inter-bank market at or about 11:00 a.m. London, England time on the date of such determination. 

In any event, the rate determined in accordance with the above-mentioned Reuter’s page or inter-bank offered rate (the
“Quoted Rate”) shall be adjusted for reserve requirements of any affected Lender in accordance with the following formula to obtain the applicable LIBOR: 

 

									
		  	LIBOR=	  	 Quoted Rate
	  		  	
		  		  	1.00 - Reserve Percentage	  		  	

  
 2. 

 where “Reserve Percentage” means the rate (expressed as a decimal)
applicable to the Agent, during the relevant Designated Period under regulations, directives or guidelines issued from time to time by the Board of Governors of the Federal Reserve System (in the USA), by the Office of the Superintendent of
Financial Institutions (in Canada) or by any other applicable regulatory agency, for determining the reserve requirement applicable to the Facilities or to facilities similar thereto (including any basic, supplemental, emergency or marginal reserve
requirement) of the Agent, respectively, with respect to “Eurocurrency liabilities”, as that term is defined under such regulations or for the purposes of complying with such directives or guidelines. All adjustments to the Quoted Rate
shall occur and be effective as of the effective date of any change in the Reserve Percentage (to the extent that the Lenders claiming entitlement to such adjustment are affected thereby), and the Agent will use reasonable efforts to advise the
Borrower of any such change as soon as practicable (provided that the Agent shall not be liable if it fails to do so). 

1.1.96B “Libor Advance” means, at any time, the part of the Advances with respect to which the Borrower has chosen to
pay interest on the Libor Basis. 
 1.1.96C “Libor Basis” means the basis of calculation of interest on Libor
Advances, or any part thereof, made in accordance with the provisions of Sections 5.3 and 5.4. 
 1.1.96D “Libor
Reference Lenders” means Royal Bank of Canada, The Toronto-Dominion Bank and Bank of America, N.A., Canada Branch, or such other Lender(s) appointed by the Agent with the consent of the Borrower in replacement of the said Lender(s).”.

  
 3. 

 4. Subsection 1.1.101 of the Original Credit Agreement (definition of “Margin”) is deleted
and replaced by the following: 
 “1.1.101 “Margin” means, (a) under the Revolving Facility, for
Prime Rate Advances, US Base Rate Advances, Libor Advances, Stamping Fees, LC Fees and Standby Fees, the following annual percentages depending on the then-applicable Leverage Ratio (“x” in the table below), determined at the times and in
the manner set out below the tables: 
 Revolving Facility 

 

							
	 Leverage Ratio
	 	 Standby Fee
	 	 Prime Rate/US Base

Rate Plus
	 	 Stamping Fees /

LC Fees / LIBOR

	 x >4.50
	 	0.5250%	 	1.625%	 	2.625%
	 4.503 x >4.00
	 	0.4500%	 	1.25%	 	2.25%
	 4.003 x >3.50
	 	0.4000%	 	1.00%	 	2.00%
	 3.503 x >2.75
	 	0.3400%	 	0.70%	 	1.70%
	 2.753 x >1.75
	 	0.2900%	 	0.45%	 	1.45%
	 x £ 1.75
	 	0.2700%	 	0.35%	 	1.35%

 and (b), under the Unsecured Facility, for Prime Rate Advances, US Base Rate Advances, Libor
Advances, Stamping Fees, LC Fees and Standby Fees, the following annual percentages depending on the then-applicable Leverage Ratio (“x” in the table below), determined at the times and in the manner set out below the table: 

Unsecured Facility 
  

							
	 Leverage Ratio
	 	 Standby Fee
	 	 Prime Rate/US Base

Rate plus
	 	 Stamping Fees /

LC Fees / LIBOR

	 x >4.50
	 	0.650%	 	2.00%	 	3.000%
	 4.503 x >4.00
	 	0.600%	 	1.75%	 	2.75%
	 4.003 x >3.50
	 	0.500%	 	1.50%	 	2.50%
	 3.503 x >2.75
	 	0.415%	 	1.075%	 	2.075%
	 2.753 x >1.75
	 	0.350%	 	0.80%	 	1.80%
	 x £ 1.75
	 	0.330%	 	0.675%	 	1.675%

 Each change resulting from a change in the Leverage Ratio shall be effective with respect to all
outstanding Loan Obligations retroactively from the first day of each fiscal quarter of the Borrower, and shall be based on the financial statements and Compliance Certificates required by subsections 12.15.1 and 12.15.2, as applicable, and the
Leverage Ratio derived from such financial statements. Thus, the financial statements and Compliance Certificates which shall be delivered 60 days after quarter-end and 90 days after year-end (based on unaudited results and subject to
readjustment upon delivery of a second Compliance Certificate in accordance with the provisions of subsection 12.15.2(b)) will be used to calculate the Leverage Ratio applicable from the first day of the quarter in which such financial
statements and Compliance Certificates were to be delivered. For example, the financial statements and Compliance Certificates to be delivered in respect of the quarter ending May 31 of any year of the Term shall be delivered by July 30 of
that year, and shall be used to calculate the Leverage Ratio for the period from June 1 of that year to August 31 of that year. If, as a result of an increase in the Leverage Ratio, the Margin has increased, the Agent will advise the
Borrower and the Lenders and the Borrower will pay all 

  
 4. 

 
additional amounts that may be due to the Lenders within 2 Business Days of being advised of the amount due. If, as a result of a reduction in the Leverage Ratio, the Margin has been reduced, the
Agent shall advise the Borrower and the Lenders and the amounts owed to the Borrower (a) will be deducted from the Stamping Fees otherwise payable in the case of a BA Advance, on the next Rollover Date of the relevant BA Advance, or (b) in
the case of Prime Rate Advances, US Base Rate Advances or Libor Advances, will be deducted from the interest otherwise payable by the Borrower on the next interest payment date contemplated by Section 5.2 or Section 4.11, or (c) in
the case of Letters of Credit, will be deducted from the LC Fees otherwise payable by the Borrower on the next LC Fee payment date contemplated by subsection 4.2.2, and (d) if no interest or Stamping Fees are payable during that period,
the Lenders shall remit the necessary amounts to the Agent for payment to the Borrower.”. 
 5. Subsection 1.1.109 of the Original Credit
Agreement is amended to add provisions related to Libor Advances, and now provides as follows: 
 “1.1.109 “Notice
of Borrowing” means, (i) with respect to the Revolving Facility or the Unsecured Facility, a notice substantially in the form of Schedule “B” transmitted to the Agent by the Borrower in accordance with the provisions of
Section 4.1, 4.2 or 4.11, or of subsection 6.1.1, and (ii) with respect to the Finnvera Term Facility, a Tranche A Notice of Borrowing, as defined in Schedule “P”.”. 

6. Subsection 1.1.125 of the Original Credit Agreement is amended by replacing the reference to Section 5.7 with a reference to Section 5.10.
Consequently, subsection 1.1.125 now provides as follows: 
 “1.1.125 “Revolving Facility Fees” means the
fees payable to the Agent and to the Revolving Facility Lenders, as set out in Section 5.10.”. 
 7. Subsection 1.1.127 of the
Original Credit Agreement is amended to add provisions related to Libor Advances, and now provides as follows: 
 “1.1.127
“Rollover Date” means, with respect to a Libor Advance or a BA Advance, the date of any such Advance, or the first day of any Designated Period.”. 
 8. Subsection 1.1.132 of the Original Credit Agreement is amended to add provisions related to Libor Advances, and now provides as follows: 

“1.1.132 “Selected Amount” means, with respect to a BA Advance, the amount of the Advances in Canadian Dollars
which the Borrower has asked to obtain by the issuance of Bankers’ Acceptances in accordance with Section 6.1, and with respect to a Libor Advance, the amount of the Advances in US Dollars in respect of which the Borrower has asked, in
accordance with Section 4.11, that the interest payable thereon be calculated on the Libor Basis.”. 

  
 5. 

 9. Subsection 1.1.141 of the Original Credit Agreement is amended by replacing the reference to subsection
5.7.1 with a reference to subsection 5.10.1. Consequently, subsection 1.1.141 now provides as follows: 
 “1.1.141
“Standby Fee” has the meaning ascribed to it in subsection 5.10.1.”. 
 10. Subsection 1.1.145 of the Original Credit
Agreement is amended by changing the amount from “$25,000,000” to “$35,000,000”. Consequently, the subsection now provides as follows: 
 “1.1.145 “Swing Line Commitment” means $35,000,000.”. 
 11. Subsection
1.1.152 of the Original Credit Agreement is amended by deleting both of the dates “July 20, 2020”, and replacing them with “July 20, 2021”. Consequently, subsection 1.1.152 now provides as follows: 

“1.1.152 “Term” means, with respect to the Revolving Facility, the period commencing on the Closing Date and
terminating on July 20, 2021, with respect to the Unsecured Facility, the period commencing on the Third Amendment Closing Date and terminating on the earlier of the Conversion Date-Total and July 20, 2021, and with respect to the Finnvera
Term Facility, the period commencing on November 13, 2009 and terminating on the “Maturity Date” as defined in Schedule “P”.”. 
 12. Subsection 1.1.160 of the Original Credit Agreement is amended by replacing the reference to Section 5.7 with a reference to Section 5.10. Consequently, subsection 1.1.160 now provides as
follows: 
 “1.1.160 “Unsecured Facility Fees” means the fees payable to the Agent and to the Unsecured
Facility Lenders, as set out in Section 5.10.”. 
 13. Subsection 1.1.163 of the Original Credit Agreement is amended to permit US$
Advances in addition to those permitted pursuant to Original Credit Agreement via the Swing Line Advances. Consequently, subsection 1.1.163 now provides as follows: 
 “1.1.163 “US Base Rate Advance” means, at any time, the part of the Advances in US Dollars with respect to which the Borrower has chosen, or, in accordance with the provisions
hereof, is obliged, to pay interest on the US Base Rate Basis.”. 
 14. The last paragraph of Section 2.1 of the Original Credit
Agreement is amended by replacing the reference to subsection 5.7.1 with a reference to subsection 5.10.1. Consequently, the last paragraph of Section 2.1 now provides as follows: 

“Irrespective of whether or not any Swing Line Advances have been made or remain outstanding, the amount available under the
Revolving Facility (other than for the purposes of the calculation under subsection 5.10.1) shall be deemed to be reduced by an amount equal to the Swing Line Commitment.”. 

  
 6. 

 15. Section 2.2 of the Original Credit Agreement is amended to permit US$ Advances in addition to those
permitted pursuant to Original Credit Agreement via the Swing Line Advances, and now provides as follows: 
 “2.2
        The Revolving Facility and the Unsecured Facility 
 All Advances
under the Revolving Facility and the Swing Line Advances shall be in Canadian Dollars or US$ and may be repaid and re-borrowed by the Borrower at all times during the Term. All Advances under the Unsecured Facility shall be in Canadian Dollars or
US$ and, subject to the provisions of Sections 4.1, 4.2, 4.10, 4.11, 6.1, and 6.13, may be repaid and re-borrowed by the Borrower at all times during the Term.”. 
 16. Subsection 2.3.1 of the Original Credit Agreement is amended to add a reference to Section 4.11, and now provides as follows: 

“2.3.1 Intention of the Parties. The Unsecured Facility is intended to be used to supplement the Credit available under the
Revolving Facility, which is limited due to the restrictions described in the first sentence of subsection 2.3.2. Accordingly, as noted in Sections 4.1, 4.2, 4.10, 4.11, 6.1, and 6.13, the Revolving Facility is intended to be drawn up to the
Threshold Amount at all times prior to any utilization of the Unsecured Facility, provided, however, that notwithstanding said intention and the aforementioned Sections, the Lenders and the Agents hereby acknowledge and agree that if at any time
prior to the occurrence of a Default that is continuing or an Event of Default that has not been waived, the aggregate principal amount of the Advances outstanding under the Revolving Facility is less than the Threshold Amount, the Borrower shall
not be required to repay, cash collateralize or cancel, as the case may be, any Bankers Acceptances, Libor Advances or Letters of Credit outstanding under the Unsecured Facility prior to their respective maturity or expiry dates.”. 

17. A new Section 2.5 is added to the Original Credit Agreement to provide for the possibility of annual extensions of the Term of the Revolving
Facility and the Unsecured Facility, and Section 2.5 of the Original Credit Agreement becomes Section 2.6. The new Section 2.5 provides as follows: 
 “2.5         Extension of Term - Revolving and Unsecured Facilities 
 By notice in writing to the Agent for delivery to the Revolving Facility Lenders and the Unsecured Facility Lenders (in this Section, the “Facility Lenders”) given at any time during the
period commencing April 21 and terminating on May 21 of each year after 2016, the Borrower may request (a “Renewal Request”) that the Facility Lenders extend the Term of the Revolving Facility and the Unsecured Facility
(the “Relevant Facilities”) for an additional period of one year from the date on which the Term of the Relevant Facilities would otherwise have expired. Each Renewal 

  
 7. 

 
Request must be made in respect of both of the Relevant Facilities, and any Facility Lender that responds to the Renewal Request shall be required to give the same decision (consent or no
consent) in respect of both of the Relevant Facilities. 
 The Facility Lenders undertake to respond to the
Renewal Request not more than 30 days from receipt. If any Facility Lender fails to so respond, such Facility Lender shall be deemed to be a Non-Consenting Lender, as defined below. Each Renewal Request must be consented to by Lenders holding not
less than  2/3 of the Commitments under each of the Relevant Facilities (herein the “Special Majority Lenders”), failing which it will be deemed to have been refused. 

At the option and expense of the Borrower (including the fee payable under subsection 16.2.2(f) hereof), and provided the Special Majority
Lenders have consented to the Renewal Request, any Facility Lender not consenting thereto (a “Non-Consenting Lender”) may be replaced, in whole or in part, by one or more Facility Lenders, or by a new Facility Lender satisfactory to
the Borrower, the Agent, the Issuing Lenders and the Swing Line Lenders, in each case acting reasonably. In such case, such Non-Consenting Lender shall promptly assign its rights, benefits and obligations as a Facility Lender to such other or new
Facility Lender in accordance with the provisions of Section 16.2.2. If, and to the extent that, the full amount of the Commitments of any Non-Consenting Lender is not so assumed, (a) all Loan Obligations owed to such Non-Consenting Lender
shall be fully repaid (together with interest and fees related thereto) by the Borrower to such Non-Consenting Lender on, and (b) the Commitments of such Non-Consenting Lender will terminate on, the then-applicable expiry date of the Term,
without regard to the extension sought in the Renewal Request, and the Credit under the Relevant Facilities shall be reduced accordingly on that date.”. 
 18. Section 4.1 of the Original Credit Agreement is amended to contemplate US Base Rate Advances and to change notification deadlines, and now provides as follows: 

“4.1         Notice of Borrowing - Direct Advances 

Subject to the applicable provisions of this Agreement, including Section 4.10, on any Business Day during the Disbursement Period,
the Borrower shall be entitled to request Advances under the Revolving Facility, and/or, if the aggregate principal amount of the Advances outstanding under the Revolving Facility will not be less than the Threshold Amount (on the date said
requested Advances under the Unsecured Facility are made), under the Unsecured Facility, on one or more occasions, up to the maximum amount of the Credit under the Revolving Facility and/or under the Unsecured Facility, as applicable, by way of
Prime Rate Advances and US Base Rate Advances in minimum amounts of Canadian $1,000,000 or US$1,000,000 respectively, and whole multiples thereof, provided that at least one (1) Business Day prior to the day on which any Prime Rate Advance or
US Base Rate Advance is required (other than a Swing Line Advance, which shall be made in accordance with the provisions of Section 4.3), the Borrower shall have provided to the Agent an irrevocable telephone notice at or before 12:00 p.m. on
any Business Day, followed by the immediate delivery of a written Notice of Borrowing. Notices of 

  
 8. 

 
Borrowing in respect of Letters of Credit, Swing Line Advances, Libor Advances and BA Advances shall be given in accordance with the provisions of Sections 4.2, 4.3, 4.11, and 6.1,
respectively.”. 
 19. Subsection 4.3.1 of the Original Credit Agreement is amended by changing the time for notice. Consequently,
subsection 4.3.1 now provides as follows: 
 “4.3.1 Subject to the terms and conditions of this Agreement, the Swing Line
Lender agrees to make Swing Line Advances to the Borrower on any Business Day from time to time prior to the expiry of the Term. Swing Line Advances (other than by Letters of Credit) may be made or drawn by way of overdrafts on the Borrower’s
account with the Swing Line Lender or by way of irrevocable same Business Day telephone notice at or before 12:00 p.m. followed by the delivery on the same day of a written notice of confirmation. Swing Line Advances by Letter of Credit shall
be subject to the prior notice as required by the Swing Line Lender in accordance with its normal practices and shall not exceed $1,000,000 in the aggregate outstanding at any time.”. 
 20. Section 4.8 of the Original Credit Agreement is amended to refer to Libor Advances as well as Bankers’ Acceptances, and now provides as follows: 

“4.8         Limits on BA Advances, Libor Advances and Letters of Credit

 Nothing in this Agreement shall be interpreted as authorizing the Borrower to issue Bankers’ Acceptances or borrow by
way of Libor Advances for a Designated Period expiring or, subject to subsection 4.2.1, to cause to be issued Letters of Credit maturing, on a date which is after the expiry of the Term.”. 

21. Section 4.9 of the Original Credit Agreement is amended to recognize that US$ borrowings can be made under either the Revolving Facility or the
Unsecured Facility, and now provides as follows: 
 “4.9         Excess
Resulting From Exchange Rate Change 
 Any time that, following one or more fluctuations in the exchange rate of the US
Dollar against the Canadian Dollar, the sum of: 
 4.9.1 the Equivalent Amount in Canadian Dollars of Loan Obligations under the
Revolving Facility or the Unsecured Facility in US Dollars; and 
 4.9.2 the Loan Obligations under the Revolving Facility or
the Unsecured Facility in Canadian Dollars; 
 exceeds the amount of the Credit under the Revolving Facility or the Unsecured
Facility then available, the Borrower shall promptly either (i) make the necessary payments or repayments to the Agent to reduce the Loan Obligations under the Revolving Facility or the 

  
 9. 

 
Unsecured Facility, as applicable, to an amount equal to or less than the available amount of the Credit under the Revolving Facility or the Unsecured Facility, as the case may be, or
(ii) maintain or cause to be maintained with the Agent, deposits of Canadian Dollars in an amount equal to or greater than the amount by which the Loan Obligations under the Revolving Facility or the Unsecured Facility, as the case may be,
exceed the available amount of the Credit under the Revolving Facility or the Unsecured Facility, as the case may be, such deposits to be maintained in such form and upon such terms as are acceptable to the Agent. Without in any way limiting the
foregoing provisions, the Agent shall, on the date of each request for an Advance or on the date of any interest payment or on each Acceptance Date or Rollover Date, make the necessary exchange rate calculations to determine whether any such excess
exists on such date and, if there is an excess, it shall so notify the Borrower.”. 
 22. Subsection 4.10.2 of the Original Credit
Agreement is amended to add a reference to US$ borrowings made under the Unsecured Facility, and now provides as follows: 

“4.10.2 there are Prime Rate Advances or US Base Rate Advances outstanding under the Unsecured Facility;” 

23. A new Section 4.11 is added to the Original Credit Agreement to permit Libor Advances, and provides as follows: 

“4.11         Libor Advances and Conversions 

Subject to the applicable provisions of this Agreement, including Section 4.10, on any Business Day during the Disbursement Period,
upon an irrevocable telephone notice to the Agent given prior to 12:00 p.m., at least three Business Days prior to the date of a proposed Libor Advance, followed by the immediate delivery of a written Notice of Borrowing, the Borrower may request
that (a) a Libor Advance be made, (b) that one or more US Base Rate Advances not borrowed as Libor Advances be converted into one or more Libor Advances, or (c) that a Libor Advance or any part thereof be extended, as the case may be,
in each case, under the Revolving Facility. If the aggregate principal amount of the Advances outstanding under the Revolving Facility will not be less than the Threshold Amount on the date of a requested Libor Advance under the Unsecured Facility,
the Borrower may also make such request under the Unsecured Facility. Each Selected Amount with respect to each Designated Period shall be in an amount of not less than US$1,000,000, and shall be in whole multiples of US$1,000,000. The Agent shall
determine the LIBOR which will be in effect on the Rollover Date (which in such case must be a Banking Day), with respect to the Selected Amount or to each of the Selected Amounts, as the case may be, having a Designated Period of 10 to 180 days (or
such other period as may be available and acceptable to the Agent) from the Rollover Date. However, if the Borrower has not delivered a notice to the Agent in a timely manner in accordance with the provisions of this Section 4.11, the Borrower
shall be deemed to have chosen to have the interest on the amount of such Advance calculated on the US Base Rate Basis. 

  
 10.

 24. The title to Section 5.1 of the Original Credit Agreement is amended to contemplate US Base Rate
Advances, and now provides as follows: 
 “5.1         Interest on the Prime
Rate Basis and the US Base Rate Basis”. 
 25. The title to Section 5.2 of the Original Credit Agreement is amended to
contemplate US Base Rate Advances, and now provides as follows: 
 “5.2        
Payment of Interest on the Prime Rate Basis and the US Base Rate Basis”. 
 26. New Sections 5.3, 5.4 and 5.5 are added to
the Original Credit Agreement to provide for Libor Advances, and Sections 5.3 to 5.8 of the Original Credit Agreement become Sections 5.6 to 5.11. The new Sections 5.3 to 5.5 provide as follows: 

“5.3         Interest on the Libor Basis 

The principal amount of any of the Libor Advances which at any time and from time to time remains outstanding shall bear interest,
calculated daily, on the daily balance of such Libor Advance, from the date of each Libor Advance or Rollover Date, at the annual rate (calculated based on a 360-day year) applicable to each of such days which corresponds to the LIBOR applicable to
each Selected Amount, plus the Margin, and shall be effective as and from the date of each Libor Advance or Rollover Date up to but excluding the last day of the Designated Period of such Libor Advance. 

5.4         Payment of Interest on the Libor Basis 

The interest payable in accordance with the provisions of Section 5.3 and calculated in the manner described therein on the amount
outstanding from time to time is payable to the Agent for the account of the Lenders, in arrears, 
 5.4.1 on the last day of
the applicable Designated Period when the Designated Period is 1 to 3 months, 
 5.4.2 when the applicable Designated Period
exceeds 3 months, on the last Business Day of each period of 3 months during such Designated Period and on the last day of the applicable Designated Period. 
 provided that if any Designated Period would otherwise end on a day that is not a Business Day, such Designated Period shall be extended to the next succeeding Business Day unless the result of such
extension would be to carry such Designated Period into another calendar month, in which event such Designated Period shall end on the immediately preceding Business Day. 

  
 11.

 5.5         Fixing of LIBOR

 LIBOR shall be notified to the Borrower at approximately 11:00 a.m., two Banking Days prior to the relevant Rollover
Date.”. 
 27. Subsection 6.1.1 of the Original Credit Agreement is amended by replacing the time “10:00 A.M.” with the time
“12:00 p.m.”. Consequently, subsection 6.1.1 now provides as follows: 
 “6.1.1 Subject to the applicable
provisions of this Agreement, including Section 6.13, on any Business Day during the Disbursement Period, as part of the Credit available under the Revolving Facility, and/or, if the aggregate principal amount of the Advances outstanding under
the Revolving Facility will not be less than the Threshold Amount (on the date said requested Advances under the Unsecured Facility are made), as part of the Credit available under the Unsecured Facility, by providing to the Agent an irrevocable
telephone notice at or before 12:00 p.m. on any Business Day followed by the immediate delivery of a written Notice of Borrowing to the Agent, given at least two (2) Business Days prior to the date of the Advance or the Rollover Date (for the
purposes of this Article 6 called the “Acceptance Date”), the Borrower may request that a BA Advance be made, that one or more Advances not borrowed as BA Advances be converted into one or more BA Advances or that a
BA Advance or any part thereof be extended, as the case may be (the “BA Request”). 
 Bankers’
Acceptances shall be issued on each Acceptance Date or Rollover Date, in a minimum Selected Amount, with respect to each Designated Period, of $5,000,000 or such greater amount which is an integral multiple of $1,000,000, shall have a Designated
Period of 10 to 180 days (or such other period as may be available and acceptable to the Agent), subject to availability, and shall, in no event, mature on a date after the expiry of the applicable Term.”. 

28. Subsection 6.4.3 of the Original Credit Agreement is amended by replacing the time “10:00 A.M.” with the time “12:00 p.m.”.
Consequently, subsection 6.4.3 now provides as follows: 
 “6.4.3 at latest at 12:00 p.m., two (2) Business Days prior
to the Rollover Date of each Bankers’ Acceptance then outstanding and reaching maturity, notify the Agent by way of a notice substantially in the form of Schedule “B-1” (but omitting paragraph 3 thereof) that it intends to deposit in
its account for the account of the Lenders on the Rollover Date an amount equal to the principal amount of each such Bankers’ Acceptance.”. 
 29. The first paragraph of Section 7.4 of the Original Credit Agreement is amended to add a reference to Libor Advances, and now provides as follows: 

“The Borrower shall indemnify each Lender against any loss or expense (including any loss or expense arising from interest or fees
payable by such Lender to lenders of funds obtained 

  
 12.

 
by it in order to make or maintain any Advance and any loss or expense incurred in liquidating or re-employing deposits from which such funds were obtained) which such Lender may sustain or incur
as a consequence of any: (a) default by the Borrower in the payment when due of the amount of or interest on any Loan Obligations or in the payment when due of any other amount hereunder, (b) default by the Borrower in obtaining an Advance
after the Borrower has given notice hereunder that it desires to obtain such Advance, (c) default by the Borrower in making any voluntary reduction of the outstanding amount of any Loan Obligations after the Borrower has given notice hereunder
that it desires to make such reduction, and (d) payment of any Bankers’ Acceptance, Libor Advance or Tranche A CDOR Advance otherwise than on the maturity date thereof (including without limitation any such payment required pursuant to
Section 8.1 or upon acceleration pursuant to Section 14.2). A certificate of the Agent or the Finnvera Facility Agent, as applicable providing reasonable particulars of the calculation of any such loss or expense shall be conclusive and
binding in the absence of manifest error. If any Lender becomes entitled to claim any amount pursuant to this Section 7.4, it shall promptly notify the Borrower, through the Agent or the Finnvera Facility Agent, as applicable, of the event by
reason of which it has become so entitled and reasonable particulars of the related loss or expense, provided that the failure to do so promptly shall not prejudice the Lenders’ right to claim hereunder.”. 

30. Section 7.6 of the Original Credit Agreement is amended to add references to Libor Advances, and now provides as follows: 

“7.6         Market Disruption 

If, at any time or from time to time, the Requisite Disruption Lenders provide notice to the Agent that: 

7.6.1(a) with respect to BA Advances, there no longer exists a market for Bankers’ Acceptances, or (b) with respect to
Libor Advances, as a result of market conditions, (i) there exists no appropriate or reasonable method to establish LIBOR, for a Selected Amount or a Designated Period, or (ii) US Dollar deposits are not available to the Lenders in such
market in the ordinary course of business in amounts sufficient to permit them to make a Libor Advance, for a Selected Amount or a Designated Period, or (c) with respect to BA Advances or Prime Rate Advances, (i) the Bankers’
Acceptance Discount Rate is unavailable and the Agent is unable to provide the alternative rate described in the definition of “Bankers’ Acceptance Discount Rate”, or (ii) the Bankers’ Acceptance Discount Rate does not
adequately and fairly reflect the cost to each such Requisite Disruption Lender of funding such Advance as determined by each such Requisite Disruption Lender in good faith, or (iii) the Prime Rate or the US Base Rate at such time does not
adequately and fairly reflect the cost to each such Requisite Disruption Lender of funding such Advance as determined by each such Requisite Disruption Lender in good faith; 

  
 13.

 any of the foregoing, a “Market Disruption Event”, then in any such case:

 7.6.2 the Borrower and the Agent shall enter into negotiations (for a period of not more than 30 days) with a view to
agreeing to a substitute basis for determining the applicable Bankers’ Acceptance Discount Rate or LIBOR. Any alternate basis (which may include having recourse to the Market Disruption Prime Rate and/or the Market Disruption US Base Rate)
agreed upon pursuant to the foregoing sentence shall, with the prior consent of each of the Lenders affected by the Market Disruption Event and the Borrower, be binding on all of them; 

7.6.3 failing such agreement, the substitute basis for determining the applicable Bankers’ Acceptance Discount Rate or LIBOR shall
be as notified to the Borrower by each affected Lender, accompanied by a certificate of such affected Lender setting out the appropriate substitute rate for the particular form of Advance in question, and accompanied by reasonable explanations and
calculations, provided that such substitute rate shall not exceed the relevant rate of non-affected Lenders by more than 1.50%; and 
 7.6.4 to the extent that the Advances affected by the Market Disruption Event are (a) US Base Rate Advances, the applicable US Base Rate for all affected Lenders shall be the Market Disruption US
Base Rate, and (b) Prime Rate Advances, the applicable Prime Rate for all affected Lenders shall be the Market Disruption Prime Rate.”. 
 31. The first paragraph of Section 8.2 of the Original Credit Agreement is amended by adding a reference to US Base Rate Advances and to Libor breakage costs, and now provides as follows: 

“On any Business Day during the Term, after having given notice to the Agent substantially in the form of Schedule “B-1”
of one (1) Business Day with respect to the repayment of Prime Rate Advances and US Base Rate Advances and two (2) Business Days with respect to BA Advances and Libor Advances, and subject to Sections 4.10 and 6.13, the Borrower may repay
in minimum amounts of $1,000,000 or US$1.000.000, or in whole multiples of such amount, all or part of the principal amount of the Loan Obligations under the Revolving Facility or under the Unsecured Facility, for the account of the Revolving
Facility Lenders or the Unsecured Facility Lenders, respectively, provided that in respect of any Libor Advance, no repayment may be made on a day other than on the maturity date of such Libor Advance, save as permitted by the terms of
Section 8.3, and in respect of a BA Advance, no repayment shall be made on a date other than a maturity date of the Bankers’ Acceptances outstanding at that time, save as provided in Section 8.3, with, in each case, all interest
accrued and unpaid on the amounts so prepaid.”. 

  
 14.

 32. Section 8.3 of the Original Credit Agreement is amended by adding a second paragraph to contemplate
breakage costs in the event of the prepayment of a Libor Advance, and now provides as follows: 
 “8.3
        Cash Collateralization of BA Advances and Payment of Losses Resulting From a Prepayment 
 If a prepayment to be made would require the repayment of outstanding Bankers’ Acceptances prior to their maturity, the Borrower shall provide to the Agent cash collateral in an amount equal to the
face amount of such Bankers’ Acceptances which cash collateral shall be held by the Agent in an interest bearing account and used to repay same at maturity. 
 If a prepayment in respect of a Libor Advance is made on a date other than its maturity date, contrary to the provisions of this Agreement, simultaneously with such prepayment the Borrower shall pay to
the Lenders the losses, costs and expenses suffered or incurred by the Lenders with respect to such prepayment, which are referred to in Section 7.4.”. 
 33. Section 8.5 of the Original Credit Agreement is amended by replacing the time “11:00 A.M.” with the time “12:00 p.m.”. Consequently, Section 8.5 now provides as follows:

 “8.5         Payments by the Borrower to the Agent 

All payments to be made by the Borrower in connection with this Agreement shall be made in funds having same day value to the Agent, at
the Agency Branch, or at any other office or account in Toronto or Montreal designated by the Agent. Any such payment shall be made on the date upon which such payment is due, in accordance with the terms hereof, no later than 12:00 p.m.”.

 34. Section 8.6 of the Original Credit Agreement is amended to refer to an exception for the repayment of Libor Advances set out in
Section 5.4, and now provides as follows: 
 “8.6         Payment on a
Business Day 
 Each time a payment, repayment or prepayment is due on a day that is not a Business Day, it shall be
made on the following Business Day, subject to Section 5.4 with respect to interest payments on Libor Advances.”. 
 35. The first
part of subsection 12.15.2 (b) of the Original Credit Agreement is amended by replacing the number “75” with the number “90”. Consequently, the portion in question of subsection 12.15.2 (b) now provides as follows:

  

	 	“(b)	Within 90 days following the end of each financial year of the Borrower,”. 

  
 15.

 36. Subsection 12.15.3 (a) and (b) of the Original Credit Agreement are amended to provide for
different delays, and now provide as follows: 
  

	 	“(a)	Within 90 days following the end of each financial year of the Borrower, the Annual Business Plan, which shall promptly be submitted to the Agent for the Lenders;
and 

  

	 	(b)	 Within 75 days following the end of each financial quarter of the Borrower (other than the 4th quarter, in respect of which the delay shall be 90 days) in which
the Leverage Ratio exceeded 4.0:1, a certificate of the Borrower signed by its chief financial officer or treasurer or another officer of the Borrower acceptable to the Agent, certifying a detailed calculation of Excess Cash Flow (in such form and
providing such detail as the Agent may reasonably require) during such quarter (the “Excess Cash Flow Certificate”); and”. 

 37. Schedule “B” of the Original Credit Agreement is amended to add references to US$ Advances. The new Schedule “B” is annexed to this First Amending Agreement. 

 

	III.	REPRESENTATIONS AND WARRANTIES 

 The
Borrowers and Guarantors hereby represent and warrant to the Lenders, the Agent, the Finnvera Lenders and the Finnvera Facility Agent as follows: 
 1. the execution, delivery and performance by the Borrowers and the Guarantors of this Amendment have been duly authorized by all necessary corporate and other action and do not and will not require any
registration with, consent or approval of, or notice to or action by, any Person (including any Governmental Authority) in order to be effective and enforceable; and 
 2. this Amendment constitutes a legal, valid and binding obligation of the Borrower and each Guarantor, enforceable against each such Person in accordance with its terms, subject to applicable bankruptcy,
insolvency, reorganization, moratorium or other laws affecting creditors’ rights generally and subject to general principles of equity. 
  

	IV.	EFFECTIVE DATE AND CONDITIONS 

 1. This
First Amending Agreement shall become effective as of June 24, 2016 (the “Effective Date”), subject to the fulfilment of all conditions precedent set out herein. 
 2. On the Effective Date, the Original Credit Agreement shall be modified by the foregoing amendments. The parties hereto agree that the changes to the Original Credit Agreement set out herein and the
execution hereof shall not constitute novation and all the Security shall continue to apply to the 

  
 16.

 
Original Credit Agreement, as amended hereby, and all other obligations secured thereby. Without limiting the generality of the foregoing and to the extent necessary, (i) the Lenders, the
Agent and the Finnvera Facility Agent reserve all of their rights under each of the Security Documents, and (ii) each of the Borrower and the Guarantors obligates itself again in respect of all present and future obligations under, inter
alia, the Credit Agreement. 
  

	V.	CONDITIONS PRECEDENT 

 1. The Borrower
shall pay all fees and costs, including (a) the fees referred to in the Borrower’s request letter dated June 8, 2016, and (b) legal fees associated with this Agreement incurred by the Agent as contemplated and restricted by the
provisions of Section 12.14 of the Credit Agreement. 
 2. This First Amending Agreement shall have been signed by all of the parties
hereto and fully executed counterparts shall have been received by the Agent. 
 3. The Borrower shall provide to the Agent and the Finnvera
Facility Agent the opinion of its counsel, in form and substance acceptable to the Agent and the Lenders’ counsel, with respect to (i) the power, capacity, and authority of the Borrower and each of the Guarantors to enter into or intervene
in this Agreement and to perform its obligations hereunder, (ii) the enforceability of this Agreement in accordance with its terms, (iii) the continued enforceability (unaffected hereby) of all of the Security, and (iv) such other
matters as may reasonably be requested by the Agent or its counsel. 
 4. The representations and warranties of the Borrower and each Guarantor
set forth in the Credit Agreement shall be true and correct in all respects on and as of the Effective Date (except that where such representations and warranties are qualified by reference to a date, they shall be true and correct as at such date).

 5. The representations and warranties in Article IV of this Amendment shall be true and correct in all material respects as of the date
hereof. 
 6. At the time of and immediately after giving effect to this First Amending Agreement, no Default or Event of Default shall have
occurred or be continuing. 
  

	VI.	MISCELLANEOUS 

 1. All of the provisions
of the Original Credit Agreement that are not amended hereby shall remain in full force and effect. 
 2. This Agreement shall be governed by
and construed in accordance with the Laws of the Province of Quebec. 

  
 17.

 3. The parties acknowledge that they have required that the present agreement, as well as all documents,
notices and legal proceedings entered into, given or instituted pursuant hereto or relating directly or indirectly hereto be drawn up in English. Les parties reconnaissent avoir exigé la rédaction en anglais de la présente
convention ainsi que de tous documents exécutés, avis donnés et procédures judiciaires intentées, directement ou indirectement, relativement ou à la suite de la présente convention. 

IN WITNESS WHEREOF THE PARTIES HERETO HAVE SIGNED THIS AGREEMENT ON THE DATE AND AT THE PLACE FIRST HEREINABOVE MENTIONED. 

  
 18.

			
	VIDÉOTRON LTÉE
		
	Per:	 	 /s/ Chloé Poirier

		 	Cholé Poirier
		 	Vice President and Treasurer
		
	Per:	 	 /s/ Jean-François Pruneau

		 	Jean-François Pruneau
		 	Vice President

									
	ROYAL BANK OF CANADA, as Agent	  		  		  	
					
	Per:	  	 /s/ Rodica Dutka
	  		  		  	
		  	Rodica Dutka	  		  		  	
		  	Manager, Agency	  		  		  	
					
	Per:	  	 N/A
	  		  		  	
	
	THE REVOLVING FACILITY LENDERS AND UNSECURED FACILITY LENDERS:
			
	ROYAL BANK OF CANADA	  		  	NATIONAL BANK OF CANADA
					
	Per:	  	 /s/ Pierre Bouffard
	  		  	Per:	  	 /s/ Luc Bernier

		  	Pierre Bouffard	  		  		  	Luc Bernier
		  	Authorized Signatory	  		  		  	Managing Director
					
	Per:	  	  
	  		  	Per:	  	 /s/ François Montigny

		  		  		  		  	François Montigny
		  		  		  		  	Managing Director
			
	BANK OF AMERICA, N.A., Canada Branch	  		  	THE BANK OF NOVA SCOTIA
					
	Per:	  	 /s/ Medina Sales de Andrade
	  		  	Per:	  	 /s/ Bob King

		  	Medina Sales de Andrade, VP	  		  		  	Bob King
		  		  		  		  	Managing Director
					
	Per:	  	  
	  		  	Per:	  	 /s/ Sean Flinn

		  		  		  		  	Sean Flinn
		  		  		  		  	Associate Director
			
	THE TORONTO-DOMINION BANK	  		  	BANK OF MONTREAL
					
	Per:	  	 /s/ (signature)
	  		  	Per:	  	 /s/ Martin Stevenson

		  		  		  		  	Martin Stevenson
		  		  		  		  	Managing Director
					
	Per:	  	 /s/ (signature)
	  		  	Per:	  	  

									
	CAISSE CENTRALE DESJARDINS	  		  	CANADIAN IMPERIAL BANK
		  		  		  	OF COMMERCE
					
	Per:	  	 /s/ Catherine McCarthy
	  		  	Per:	  	 /s/ Philippe Boivin

		  	Catherine McCarthy	  		  		  	Philippe Boivin
		  	Directeur, Financement Corporatif	  		  		  	Director
		  	Director, Corporate Banking	  		  		  	
					
	Per:	  	 /s/ Dominique Parizeau
	  		  	Per:	  	 /s/ Anissa Rabia-Zeribi

		  	Dominique Parizeau	  		  		  	Anissa Rabia-Zeribi
		  	Directeur général	  		  		  	Executive Director
		  	Gestion du Portefeuille, Grandes Entreprises	  		  		  	
		  	Managing Director	  		  		  	
		  	Portfolio Management, Corporate Banking	  		  		  	
			
	HSBC BANK CANADA	  		  	JPMORGAN CHASE BANK, N.A.
					
	Per:	  	 /s/ (signature)
	  		  	Per:	  	 /s/ Jeffrey Coleman

		  		  		  		  	Jeffrey Coleman
		  		  		  		  	Executive Director
					
	Per:	  	 /s/ (signature)
	  		  	Per:	  	  

			
	 THE BANK OF TOKYO–MITSUBISHI,
 LTD., CANADA BRANCH
	  		  	CITIBANK, N.A., Canadian Branch
					
	Per:	  	 /s/ (signature)
	  		  	Per:	  	 /s/ Azita Taravati

		  		  		  		  	Azita Taravati (Authorized Signatory)
					
	Per:	  	  
	  		  	Per:	  	  

			
	MIZUHO BANK, LTD.	  		  	ICICI BANK CANADA
					
	Per:	  	 /s/ W.M. McFarland
	  		  	Per:	  	 /s/ Akshay Chaturvedi

		  	W. M. McFarland	  		  		  	Akshay Chaturvedi
		  	Senior Vice President	  		  		  	Senior Vice President
		  	Canada Branch	  		  		  	Corporate & Commercial Banking
		  		  		  		  	ICICI Bank Canada
					
	Per:	  	  
	  		  	Per:	  	 /s/ Sumit Chatterjee

		  		  		  		  	Sumit Chatterjee
		  		  		  		  	AVP, Credit Risk
		  		  		  		  	ICICI Bank Canada

			
	LAURENTIAN BANK OF CANADA
		
	Per:	 	 /s/ Guylaine Couture

		 	Guylaine Couture
		 	Assistant Vice President
		
	Per:	 	 /s/ Vanessa Thibault

		 	Vanessa Thibault
		 	Account Manager

									
	HSBC BANK PLC, as Finnvera Facility Agent	 		 		 	
					
	Per:	 	 /s/ (signature)
	 		 		 	
					
	Per:	 	  
	 		 		 	
				
	THE FINNVERA TERM FACILITY LENDERS:	 		 		 	
			
	HSBC BANK PLC	 		 	THE TORONTO-DOMINION BANK
					
	Per:	 	 /s/ (signature)
	 		 	Per:	 	 /s/ Vince Chang

		 		 		 		 	Vince Chang
		 		 		 		 	Managing Director
					
	Per:	 	  
	 		 	Per:	 	 /s/ Sumit Paliwal

		 		 		 		 	Sumit Paliwal
		 		 		 		 	Director
	SUMITOMO MITSUI BANKING	 		 		 	
	CORPORATION OF CANADA	 		 		 	
					
	Per:	 	 /s/ Elwood R. Langley
	 		 		 	
		 	Elwood R. Langley	 		 		 	
		 	Managing Director	 		 		 	

 The undersigned acknowledge having taken cognizance of the provisions of the foregoing First Amending
Agreement and consent thereto, and agree that the Guarantees and Security executed by them (A) remain enforceable against them in accordance with their terms, and (B) continue to guarantee or secure, as applicable, all of the obligations
of the Persons specified in such Guarantees and Security Documents in connection with the Credit Agreement as defined above, and as amended hereby: 
  

									
	9293-6707 QUÉBEC INC.	 		 	9227-2590 QUÉBEC INC.
					
	Per:	 	 /s/ Chloé Poirier
	 		 	Per:	 	 /s/ Chloé Poirier

		 	Cholé Poirier	 		 		 	Cholé Poirier
		 	Vice President and Treasurer	 		 		 	Vice President and Treasurer
					
	Per:	 	 /s/ Jean-François Pruneau
	 		 	Per:	 	 /s/ Jean-François Pruneau

		 	Jean-François Pruneau	 		 		 	Jean-François Pruneau
		 	Vice President	 		 		 	Vice President
			
	9230-7677 QUÉBEC INC.	 		 	9176-6857 QUÉBEC INC.
					
	Per:	 	 /s/ Chloé Poirier
	 		 	Per:	 	 /s/ Chloé Poirier

		 	Cholé Poirier	 		 		 	Cholé Poirier
		 	Vice President and Treasurer	 		 		 	Vice President and Treasurer
					
	Per:	 	 /s/ Jean-François Pruneau
	 		 	Per:	 	 /s/ Jean-François Pruneau

		 	Jean-François Pruneau	 		 		 	Jean-François Pruneau
		 	Vice President	 		 		 	Vice President
				
	VIDEOTRON L.P., represented by	 		 		 	VIDEOTRON G.P.
	its general partner 9230-7677 QUÉBEC INC.	 		 		 	
					
	Per:	 	 /s/ Chloé Poirier
	 		 	Per:	 	 /s/ Chloé Poirier

		 	Cholé Poirier	 		 		 	Cholé Poirier
		 	Vice President and Treasurer	 		 		 	Vice President and Treasurer
					
	Per:	 	 /s/ Jean-François Pruneau
	 		 	Per:	 	 /s/ Jean-François Pruneau

		 	Jean-François Pruneau	 		 		 	Jean-François Pruneau
		 	Vice President	 		 		 	Vice President

									
	VIDÉOTRON INFRASTRUCTURES INC.	 		 	4DEGRÉS COLOCATION INC. /
		 		 		 	4DEGREES COLOCATION INC.
					
	Per:	 	 /s/ Chloé Poirier
	 		 	Per:	 	 /s/ Chloé Poirier

		 	Cholé Poirier	 		 		 	Cholé Poirier
		 	Vice President and Treasurer	 		 		 	Vice President and Treasurer
					
	Per:	 	 /s/ Jean-François Pruneau
	 		 	Per:	 	 /s/ Jean-François Pruneau

		 	Jean-François Pruneau	 		 		 	Jean-François Pruneau
		 	Vice President	 		 		 	Vice President
			
	9529454 CANADA INC.	 		 	8480869 CANADA INC.
					
	Per:	 	 /s/ Chloé Poirier
	 		 	Per:	 	 /s/ Chloé Poirier

		 	Cholé Poirier	 		 		 	Cholé Poirier
		 	Vice President and Treasurer	 		 		 	Vice President and Treasurer
					
	Per:	 	 /s/ Jean-François Pruneau
	 		 	Per:	 	 /s/ Jean-François Pruneau

		 	Jean-François Pruneau	 		 		 	Jean-François Pruneau
		 	Vice President	 		 		 	Vice President
			
	FIBRENOIRE INC.	 		 	 SYSTEMES DE FIBRES P2P DU CANADA
 LTÉE/ CANADIAN P2P FIBRE SYSTEMS LTD.

					
	Per:	 	 /s/ Chloé Poirier
	 		 	Per:	 	 /s/ Chloé Poirier

		 	Cholé Poirier	 		 		 	Cholé Poirier
		 	Vice President and Treasurer	 		 		 	Vice President and Treasurer
					
	Per:	 	 /s/ Jean-François Pruneau
	 		 	Per:	 	 /s/ Jean-François Pruneau

		 	Jean-François Pruneau	 		 		 	Jean-François Pruneau
		 	Vice President	 		 		 	Vice President

 SCHEDULE “B”- NOTICE OF BORROWING AND CERTIFICATE 

 

					
	TO:	  	ROYAL BANK OF CANADA, as Agent	  	
			
	FROM:	  	VIDÉOTRON LTÉE	  	DATE:

 1) This Notice of Borrowing and Certificate is delivered to you pursuant to the Amended and Restated Credit Agreement
dated as of June 16, 2015, and as same may have been further amended (the “Credit Agreement”). All defined terms set forth in this Notice of Borrowing and Certificate shall have the respective meanings set forth in the Credit
Agreement 
 2) We hereby request an Advance under the Revolving Facility/Unsecured Facility {select one} of the Credit Agreement as
follows: 
  

	 	(a)	Date of Advance:
                                         
                    

  

	 	(b)	Amount of Advance:
                                         
              

  

	 	(c)	Currency of Advance ($ or US$):
                                   

 

	 	(d)	Type of Advance:
                                         
                    

  

	 	(e)	Designated Period(s) (if any):
                                         
 

  

	 	(f)	Maturity Date(s) (if applicable):
                                     

  

	 	(g)	Payment Instruction (if any):
                                         
  

 3) We have understood the provisions of the Credit Agreement which are relevant to the furnishing of this Notice of
Borrowing and Certificate. To the extent that this Notice of Borrowing and Certificate evidences, attests or confirms compliance with any covenants or conditions precedent provided for in the Credit Agreement, we have made such examination or
investigation as was, in our opinion, necessary to enable us to express an informed opinion as to whether such covenants or conditions have been complied with. 
 4) WE HEREBY CERTIFY THAT, in our opinion, as of the date hereof: 
 (a) All of the
representations and warranties of the Borrower contained in Article 11 of the Credit Agreement (except where qualified in Article 11 as being made as at a particular date) are true and correct on and as of the date hereof as though made on
and as of the date hereof. 
 (b) All of the covenants of the Borrower contained in Articles 12 and 13 of the Credit
Agreement together with all of the conditions precedent to an Advance and all other terms and conditions contained in the Credit Agreement have been fully complied with. 
 (c) If the requested Advance is under the Unsecured Facility, we confirm that the principal amount of the Advances outstanding under the Revolving Facility will not be less than the Threshold Amount on
the date the requested Advance under the Unsecured Facility is made. 
 (d) No Event of Default has occurred and no Default has
occurred and is continuing. 
  

			
	Yours truly,
	
	VIDÉOTRON LTÉE
		
	 Per:
	 	  

		
	Title:

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