Document:

Exhibit 10.2

 

Execution Version

 

 

CREDIT AGREEMENT

 

dated as of December 31, 2020,

 

among

 

TUESDAY MORNING CORPORATION,

as Holdings,

 

TUESDAY MORNING, INC.,

as Borrower,

 

THE LENDERS PARTY HERETO,

 

and

 

ALTER DOMUS (US) LLC,

as Administrative Agent

  

 

     

     

    

  

TABLE OF CONTENTS

 

	ARTICLE I Definitions	1
	 	 
	Section 1.01   Defined Terms	1
	Section 1.02   Terms Generally	30
	Section 1.03   Accounting Terms	31
	Section 1.04   Rounding	32
	Section 1.05   Timing of Payment or Performance	32
	Section 1.06   Classification	32
	Section 1.07   References to Laws	32
	Section 1.08   [Reserved]	32
	Section 1.09   [Reserved]	32
	Section 1.10   [Reserved]	32
	Section 1.11   Divisions	32
	 	 
	ARTICLE II The Credits	33
	 	 
	Section 2.01   Commitments	33
	Section 2.02   [Reserved]	33
	Section 2.03   Request for Borrowing	33
	Section 2.04   [Reserved]	33
	Section 2.05   [Reserved]	33
	Section 2.06   Funding of the Borrowing	33
	Section 2.07   Administrative Agent Fee Letter	33
	Section 2.08   Repayment of Loans	33
	Section 2.09   Evidence of Debt	34
	Section 2.10   [Reserved]	34
	Section 2.11   Prepayments of Loans	34
	Section 2.12   [Reserved]	36
	Section 2.13   Interest	37
	Section 2.14   [Reserved]	37
	Section 2.15   Increased Costs	37
	Section 2.16   [Reserved]	38
	Section 2.17   Taxes	39
	Section 2.18   Payments Generally; Pro Rata Treatment; Sharing of Set-offs	42
	Section 2.19   Mitigation Obligations; Replacement of Lenders	43
	 	 
	ARTICLE III Representations and Warranties	44
	 	 
	Section 3.01   Organization; Powers	44
	Section 3.02   Authorization	44
	Section 3.03   Enforceability	44
	Section 3.04   Governmental Approvals	45
	Section 3.05   Financial Statements	45
	Section 3.06   No Material Adverse Effect	45

 

    i

     

    

 

	Section 3.07   Title to Properties; Possession Under Leases	45
	Section 3.08   Subsidiaries	46
	Section 3.09   Litigation; Compliance with Laws	46
	Section 3.10   Investment Company Act	46
	Section 3.11   Use of Proceeds	47
	Section 3.12   Federal Reserve Regulations	47
	Section 3.13   Tax Returns	47
	Section 3.14   Disclosure	47
	Section 3.15   Employee Benefit Plans	48
	Section 3.16   Environmental Matters	48
	Section 3.17   Security Documents	49
	Section 3.18   Solvency	49
	Section 3.19   Labor Matters	50
	Section 3.20   Insurance	50
	Section 3.21   USA PATRIOT Act and OFAC	51
	Section 3.22   EEA Financial Institution	51
	Section 3.23   Plan Assets	51
	Section 3.24   Common Enterprise	51
	Section 3.25   Material Agreements	51
	 	 
	ARTICLE IV Conditions Precedent	51
	 	 
	Section 4.01   Closing Date	51
	 	 
	ARTICLE V Affirmative Covenants	55
	 	 
	Section 5.01   Existence; Businesses and Properties	55
	Section 5.02   Insurance	56
	Section 5.03   Taxes	56
	Section 5.04   Financial Statements, Reports, etc.	57
	Section 5.05   Notices of Material Events	60
	Section 5.06   Compliance with Laws	61
	Section 5.07   Maintaining Records; Access to Properties and Inspections	61
	Section 5.08   Compliance with Environmental Laws	62
	Section 5.09   Further Assurances; Additional Guarantors; Mortgages	62
	Section 5.10   Fiscal Year; Accounting	65
	Section 5.11   Casualty Events	65
	Section 5.12   Collateral Monitoring and Reporting	65
	Section 5.13   Use of Proceeds	66
	 	 
	ARTICLE VI Negative Covenants	66
	 	 
	Section 6.01   Indebtedness	67
	Section 6.02   Liens	70
	Section 6.03   Sale and Lease-Back Transactions	74
	Section 6.04   Investments, Loans and Advances	74
	Section 6.05   Mergers, Consolidations and Dispositions	76

 

    ii

     

    

 

	Section 6.06   Dividends and Distributions	79
	Section 6.07   Transactions with Affiliates	81
	Section 6.08   Business of Holdings, the Borrower and the Subsidiaries	83
	Section 6.09   Limitation on Modification of Indebtedness; Modification of Certificate of Incorporation,
By-Laws and Certain Other  Agreements; etc.	83
	Section 6.10   [Reserved]	85
	Section 6.11   Use of Proceeds	85
	Section 6.12   Foreign Subsidiaries	85
	Section 6.13   Anti-Layering	85
	 	 
	ARTICLE VII Events of Default	86
	 	 
	Section 7.01   Events of Default	86
	Section 7.02   Allocation	89
	 	 
	ARTICLE VIII The Administrative Agent	90
	 	 
	Section 8.01   Appointment, Authority and Duties of the Administrative Agent	90
	Section 8.02   Agreements Regarding Collateral and Field Examination Reports	91
	Section 8.03   Reliance By the Administrative Agent	92
	Section 8.04   Action Upon Default	92
	Section 8.05   Delegation of Duties	93
	Section 8.06   Limitation on Responsibilities of the Administrative Agent	93
	Section 8.07   Successor Administrative Agent and Co-Collateral Agents	94
	Section 8.08   Acknowledgements of Lenders	95
	Section 8.09   Remittance of Payments and Collections	95
	Section 8.10   [Reserved]	96
	Section 8.11   [Reserved]	96
	Section 8.12   [Reserved]	96
	Section 8.13   Survival	96
	Section 8.14   Withholding Tax	96
	Section 8.15   Indemnification	97
	Section 8.16   Certain ERISA Matters	97
	Section 8.17   Flood Insurance Laws	98
	 	 
	ARTICLE IX Miscellaneous	99
	 	 
	Section 9.01   Notices	99
	Section 9.02   Survival of Agreement	99
	Section 9.03   Binding Effect	99
	Section 9.04   Successors and Assigns	100
	Section 9.05   Expenses; Indemnity	103
	Section 9.06   Right of Set-off	106
	Section 9.07   Applicable Law	106
	Section 9.08   Waivers; Amendment	106
	Section 9.09   Interest Rate Limitation	108

 

    iii

     

    

 

	Section 9.10   Entire Agreement	108
	Section 9.11   WAIVER OF JURY TRIAL	109
	Section 9.12   Severability	109
	Section 9.13   Counterparts; Electronic Execution	109
	Section 9.14   Headings	110
	Section 9.15   Jurisdiction; Consent to Service of Process	111
	Section 9.16   Confidentiality	112
	Section 9.17   Release of Liens and Guarantees	112
	Section 9.18   USA PATRIOT Act	112
	Section 9.19   Marshalling	113
	Section 9.20   Obligations Several; Independent Nature of Lenders’ Rights	113
	Section 9.21   Acknowledgement Regarding Any Supported QFCs	113
	Section 9.22   Acknowledgements	114
	Section 9.23   [Reserved]	115
	Section 9.24   Judgment Currency	115
	Section 9.25   Acknowledgement and Consent to Bail-In of Affected Financial Institutions	115
	Section 9.26   Intercreditor Agreement	116

  

    iv

     

    

  

EXHIBITS AND SCHEDULES

 

	Exhibit A	Form of Assignment and Acceptance
	Exhibit B	Form of Administrative Questionnaire
	Exhibit C	Form of Borrowing Request
	Exhibit D	Form of Solvency Certificate
	Exhibit E	Form of Compliance Certificate
	Exhibit F-1	Form of U.S. Tax Compliance Certificate (Foreign Lenders that are not Partnerships for U.S. Federal Income Tax Purposes)
	Exhibit F-2	Form of U.S. Tax Compliance Certificate (Foreign Participants that are not Partnerships for U.S. Federal Income Tax Purposes)
	Exhibit F-3	Form of U.S. Tax Compliance Certificate (Foreign Participants that are Partnerships for U.S. Federal Income Tax Purposes)
	Exhibit F-4	Form of U.S. Tax Compliance Certificate (Foreign Lenders that are Partnerships for U.S. Federal Income Tax Purposes)
	Exhibit G	Form of Note
	 	 
	Schedule 2.01	Commitments
	Schedule 3.07(b)	Licensing Agreements
	Schedule 3.07(c)	Real Property
	Schedule 3.08(a)	Subsidiaries
	Schedule 3.17	Financing Statements and Other Filings
	Schedule 3.20	Insurance
	Schedule 3.25	Material Agreements
	Schedule 5.12	Deposit Accounts, Securities Accounts and Commodities Accounts
	Schedule 6.01	Indebtedness
	Schedule 6.02	Liens
	Schedule 6.04	Investments
	Schedule 6.07	Transactions with Affiliates
	Schedule 9.01(a)	Notices

  

    v

     

    

 

CREDIT AGREEMENT dated
as of December 31, 2020 (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, this
 “Agreement”), among TUESDAY MORNING, INC., a Texas corporation (the “Borrower”), each of
the Subsidiary Guarantors (as hereinafter defined), TUESDAY MORNING CORPORATION, a Delaware corporation (“Parent”),
TMI HOLDINGS, INC., a Delaware corporation (“Intermediate Holdings”), the LENDERS party hereto from time to
time and ALTER DOMUS (US) LLC, as administrative agent (in such capacity, the “Administrative Agent”).

 

WHEREAS, on May 27,
2020 (the “Petition Date”), the Borrower and each of the Subsidiary Guarantors (as defined below) filed voluntary
petitions with the Bankruptcy Court commencing their respective cases that are pending under Chapter 11 of the Bankruptcy Code
(collectively, the “Cases”). In connection with the Cases, the Loan Parties, JPMorgan Chase Bank, N.A., as administrative
agent, and the lenders party thereto entered into that certain Senior Secured Super Priority Debtor-In-Possession Credit Agreement
dated as of May 29, 2020 (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the
 “DIP ABL Credit Agreement”);

 

WHEREAS, the Loan Parties
filed the Revised Second Amended Joint Plan of Reorganization of Tuesday Morning Corporation, et al., Pursuant to Chapter
11 of the Bankruptcy Code, dated November 18, 2020 (as amended, supplemented or otherwise modified from time to time, the “Plan
of Reorganization”) with the Bankruptcy Court, which Plan of Reorganization was confirmed by the Bankruptcy Court’s
order entered on December 23, 2020;

 

WHEREAS, the Borrower
has requested that the Lenders extend exit financing in connection with the consummation of the Plan of Reorganization;

 

NOW THEREFORE, the
Lenders are willing to extend such exit financing to the Borrower on the terms and subject to the conditions set forth herein.
Accordingly, the parties hereto agree as follows:

 

ARTICLE I

Definitions

 

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

 

“ABL Administrative
Agent” shall mean the “Administrative Agent” as defined in the ABL Credit Agreement.

 

“ABL Credit
Agreement” shall mean that certain Credit Agreement dated as of the Closing Date, by and among, inter alios, the
Borrower, Parent, Intermediate Holdings, each of the Subsidiary Guarantors, JPMorgan Chase Bank, N.A., as a lender and in its capacity
as “Administrative Agent”, Bank of America, N.A., and Wells Fargo Bank, as the same may be amended, restated, amended
and restated, supplemented or otherwise modified from time to time to the extent permitted under the Intercreditor Agreement.

 

    vi

     

    

 

“ABL Loan
Documents” shall mean the “Loan Documents” as defined in the ABL Credit Agreement.

 

“ABL Loan
Obligations” shall mean all “Secured Obligations” under the ABL Credit Agreement; provided that such
Indebtedness is subject to the Intercreditor Agreement.

 

“ABL Priority
Collateral” shall have the meaning assigned such term in the Intercreditor Agreement.

 

“ABL Priority
Collateral Account” shall mean a Deposit Account subject to the sole dominion and control of the ABL Administrative Agent
which holds solely identifiable proceeds of ABL Priority Collateral pending reinvestment or the application thereof to the ABL
Loan Obligations in accordance with the ABL Loan Documents and the Intercreditor Agreement.

 

“ABL Secured
Parties” shall mean the “Secured Parties” under the ABL Credit Agreement.

 

“Account”
shall have the meaning as defined in the UCC, including all rights to payment for goods sold or leased, or for services rendered.

 

“Account Debtor”
shall mean a Person who is obligated under an Account, Chattel Paper or General Intangible.

 

“Acquisition”
shall mean, with respect to any Person, (a) an Investment in, or a purchase of a Controlling interest in, the Equity Interests
of any other Person (whether by merger or consolidation of such Person with any other Person or otherwise) or (b) a purchase
or other acquisition of all or substantially all of the assets or properties of another Person or of any business unit of another
Person (whether by merger or consolidation of such Person with any other Person or otherwise).

 

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

 

“Administrative
Agent Fee Letter” shall mean the Fee Letter dated as of the Closing Date by and between the Borrower and the Administrative
Agent.

 

“Administrative
Questionnaire” shall mean an Administrative Questionnaire in the form of Exhibit B.

 

“Affected
Financial Institution” shall mean (a) any EEA Financial Institution or (b) any UK Financial Institution.

 

“Affiliate”
shall mean, when used with respect to a specified Person, another Person that directly, or indirectly through one or more intermediaries,
Controls or is Controlled by or is under common Control with the Person specified; provided, however, neither the
Administrative Agent nor any Lender shall be deemed to be an Affiliate of the Borrower or its Subsidiaries with respect to transactions
evidenced by any Loan Document.

 

    	 	2	 

     

    

 

“Agent Indemnitees”
shall mean the Administrative Agent and its officers, directors, employees, Affiliates, agents and attorneys.

 

“Agent Professionals”
shall mean attorneys, accountants, appraisers, auditors, environmental engineers or consultants, and other professionals and experts
retained by the Administrative Agent.

 

“Agreement”
shall have the meaning assigned to such term in the introductory paragraph of this Agreement.

 

“Agreement
Currency” has the meaning assigned to such term in Section 9.24.

 

“All Outstanding
Equity Interests” shall mean, with respect to any Person, all of the outstanding Equity Interests (other than directors’
qualifying shares and similar de minimis holdings required by Applicable Law) in such Person.

 

“Allowed General
Unsecured Claims” shall have the meaning assigned to such term in the Plan of Reorganization.

 

“Ancillary
Document” has the meaning assigned to it in Section 9.13(b).

 

“Anti-Corruption
Laws” shall mean all laws, rules, and regulations of any jurisdiction applicable to the Borrower or its Subsidiaries
from time to time concerning or relating to bribery, corruption, money laundering, any predicate crime to money laundering or any
financial record keeping an reporting requirements related thereto.

 

“Applicable
Law” shall mean all applicable laws, rules, regulations and binding governmental requirements having the force and effect
of law applicable to the Person in question or any of its property or assets, including all applicable statutory law, common law
and equitable principles, and all provisions of constitutions, treaties, statutes, rules, regulations, orders and decrees of Governmental
Authorities.

 

“Assignment
and Acceptance” shall mean an assignment and acceptance entered into by a Lender and an assignee, and accepted by the
Borrower (if the Borrower’s consent is required by this Agreement), in the form of Exhibit A or such other form as shall
be approved by the Administrative Agent.

 

“Bail-In Action”
shall mean the exercise of any Write-Down and Conversion Powers by the applicable Resolution Authority in respect of any liability
of an Affected Financial Institution.

 

“Bail-In Legislation”
shall mean, (a) with respect to any EEA Member Country implementing Article 55 of Directive 2014/59/EU of the European Parliament
and of the Council of the European Union, the implementing law, regulation, rule or requirement for such EEA Member Country from
time to time which is described in the EU Bail-In Legislation Schedule and (b) with respect to the United Kingdom, Part I of the
United Kingdom Banking Act 2009 (as amended from time to time) and any other law, regulation or rule applicable in the United Kingdom
relating to the resolution of unsound or failing banks, investment firms or other financial institutions or their affiliates (other
than through liquidation, administration or other insolvency proceedings).

 

    	 	3	 

     

    

 

“Bankruptcy
Code” shall mean Title 11 of the United States Code or any similar federal or state law for the relief of debtors,
as now and hereafter in effect, or any successor statute.

 

“Bankruptcy
Court” shall mean the United States Bankruptcy Court for the Northern District of Texas, Dallas Division or any other
court having jurisdiction over the Cases from time to time and any Federal appellate court thereof.

 

“Beneficial
Ownership Certification” shall mean a certification regarding beneficial ownership or control as required by the Beneficial
Ownership Regulation.

 

“Beneficial
Ownership Regulation” shall mean 31 C.F.R. § 1010.230.

 

“Benefit Plan”
shall mean any of (a) an “employee benefit plan” (as defined in ERISA) that is subject to Title I of ERISA, (b) a
 “plan” as defined in and subject to Section 4975 of the Code or (c) any Person whose assets include (for purposes
of the Plan Asset Regulations or otherwise for purposes of Title I of ERISA or Section 4975 of the Code) the assets of any such
 “employee benefit plan” or “plan”.

 

“BHC Act Affiliate”
of a party shall mean an “affiliate” (as such term is defined under, and interpreted in accordance with, 12 U.S.C.
1841(k)) of such party.

 

“Board”
shall mean the Board of Governors of the Federal Reserve System of the United States of America, or any successor thereto.

 

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

 

“Borrowing”
shall mean the funding of the Loans on the Closing Date.

 

“Borrowing
Request” shall mean a request by the Borrower in accordance with the terms of Section 2.03.

 

“Budget”
shall have the meaning assigned to such term in Section 5.04(f).

 

“Business
Day” shall mean any day that is not a Saturday, Sunday or other day on which commercial banks in New York City are authorized
or required by law or other governmental action to remain closed.

 

    	 	4	 

     

    

 

“Capital Expenditures”
shall mean, in respect of any period, the aggregate of all expenditures incurred by the Borrower and the Subsidiaries during such
period that, in accordance with GAAP, are required to be classified as capital expenditures, including Capital Lease Obligations
incurred, provided, however, that Capital Expenditures for the Borrower and the Subsidiaries shall not include:

 

(a)              
expenditures of proceeds of insurance settlements, condemnation awards and other settlements in respect of lost, destroyed,
damaged or condemned assets, equipment or other property to the extent such expenditures are made to replace or repair such lost,
destroyed, damaged or condemned assets, equipment or other property or otherwise to acquire, maintain, develop, construct, improve,
upgrade or repair assets or properties useful in the business of the Borrower and the Subsidiaries within twelve (12) months
of receipt of such proceeds,

 

(b)              
expenditures that are accounted for as capital expenditures of such Person and that actually have been paid for by a third
party (other than the Borrower or any Subsidiary thereof) and for which neither the Borrower nor any Subsidiary has provided or
is required to provide or incur, directly or indirectly, any consideration or obligation to such third party or any other Person
(whether before, during or after such period, other than the payment of rent),

 

(c)              
the purchase price of equipment or property purchased during such period to the extent the consideration therefor consists
of any combination of (x) used or surplus equipment or property traded in at the time of such purchase and (y) the proceeds
of a reasonably concurrent sale of used or surplus equipment or property, in each case, in the ordinary course of business,

 

(d)              
expenditures that are accounted for as capital expenditures in connection with transactions constituting Permitted Business
Acquisitions, or

 

(e)              
the interest component of any Capital Lease Obligation.

 

“Capital Lease
Obligations” shall mean the obligations of any Person to pay rent or other amounts under any lease of (or other arrangement
conveying the right to use) real or personal property, or a combination thereof, which obligations are required to be classified
and accounted for as capital leases or financing leases on a balance sheet of such Person under GAAP and, for purposes hereof,
the amount of such obligations at any time shall be the capitalized amount thereof at such time determined in accordance with GAAP.

 

“Cases”
shall have the meaning assigned such terms in the recitals to this Agreement.

 

“Cash Dominion
Trigger Period” shall have the meaning given to such term in the ABL Credit Agreement as in effect on the date hereof.

 

“Casualty
Event” shall mean any loss, casualty or other insured damage to, or any nationalization, taking under power of eminent
domain or by condemnation or similar proceeding of, any Term Loan Priority Collateral.

 

    	 	5	 

     

    

 

“Change in
Control” shall mean:

 

(a)              
a sale or other Disposition of all or substantially all of the assets of the Parent or any of its Subsidiaries or a sale
of 100% of the Equity Interests of Intermediate Holdings or the Borrower, or

 

(b)              
any merger, consolidation or similar transaction upon which the outstanding Equity Interests of the Parent shall no longer
be registered pursuant to the Exchange Act, or

 

(c)              
except as otherwise permitted by Section 6.05(b), the acquisition of record ownership or direct beneficial ownership
(i.e., excluding indirect beneficial ownership through intermediate entities by any Person which is the subject of clause (c)
below) by any Person other than Parent (or another Parent Entity that has become a Loan Party) of any Equity Interests in Intermediate
Holdings, such that after giving effect thereto Parent (or another Parent Entity that has become a Loan Party) shall cease to beneficially
own and control 100% of the Equity Interests of Intermediate Holdings, or

 

(d)              
the acquisition of record ownership or direct beneficial ownership (i.e., excluding indirect beneficial ownership through
intermediate entities by any Person which is the subject of clause (c) below) by any Person other than Intermediate
Holdings (or another Parent Entity that is or has become a Loan Party) of any Equity Interests in the Borrower, such that after
giving effect thereto Intermediate Holdings (or another Parent Entity that is or has become a Loan Party) shall cease to beneficially
own and control 100% of the Equity Interests of the Borrower

 

(e)              
the acquisition of beneficial ownership, directly or indirectly, by any Person or group (within the meaning of the Exchange
Act and the rules of the SEC thereunder as in effect on the date hereof), other than Osmium Partners LLC, Tensile Capital Management
LLC and/or any affiliates of Osmium Partners LLC or Tensile Capital Management LLC, any employee benefit plan and/or Person acting
as a trustee, agent or other fiduciary or administrator in respect thereof, of Equity Interests in the Parent representing more
than 35% of the aggregate ordinary voting power represented by the issued and outstanding Equity Interests in the Parent; or

 

(f)               
a Change in Control (or comparable event) as defined in the ABL Credit Agreement.

 

“Change in
Law” shall mean (a) the adoption of any law, rule or regulation after the Closing Date, (b) any change in law,
rule or regulation or in the interpretation or application thereof by any Governmental Authority after the Closing Date or (c) compliance
by any Lender (or, for purposes of Section 2.15(b), by any Lending Office of such Lender or by such Lender’s
holding company, if any) with any written request, guideline or directive (whether or not having the force of law) of any Governmental
Authority made or issued after the Closing Date; provided that, notwithstanding anything herein to the contrary, (x) the
Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines, requirements or directives thereunder
or issued in connection therewith or in the implementation thereof, and (y) all requests, rules, guidelines, requirements
or directives promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor
or similar authority) or the United States or foreign regulatory authorities, in each case pursuant to Basel III, shall in each
case be deemed to be a “Change in Law”, regardless of the date enacted, adopted, issued or implemented.

 

    	 	6	 

     

    

 

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

 

“Chattel Paper”
shall have the meaning set forth in Article 9 of the UCC.

 

“Claims”
shall mean all claims, liabilities, obligations, losses, damages, penalties, judgments, proceedings, interests, costs and expenses
of any kind (including remedial response costs, reasonable attorneys’ fees) at any time (including after Payment in Full
of the Obligations, resignation or replacement of the Administrative Agent or replacement of any Lender) incurred by any Indemnitee
or asserted against any Indemnitee by any Loan Party or other Person, in any way relating to (a) any Loans, Loan Documents,
or the use thereof or transactions relating thereto, (b) any action taken or omitted to be taken by an Indemnitee in connection
with any Loan Documents, (c) the existence or perfection of any Liens, or realization upon any Collateral, (d) exercise
of any rights or remedies under any Loan Documents or Applicable Law, or (e) failure by any Loan Party to perform or observe
any terms of any Loan Document, in each case including all costs and expenses relating to any investigation, litigation, arbitration
or other proceeding (including an Insolvency Proceeding or appellate proceedings), whether or not the applicable Indemnitee is
a party thereto.

 

“Closing Date”
shall mean December 31, 2020.

 

“Code”
shall mean the Internal Revenue Code of 1986, as amended.

 

“Collateral”
shall mean any and all assets subject or purported to be subject to a Lien pursuant to any Security Document, including all ABL
Priority Collateral and Term Loan Priority Collateral.

 

“Collateral
Agreement” shall mean the Guarantee and Collateral Agreement dated as of the Closing Date, among Holdings, the Borrower,
each Subsidiary Guarantor and the Administrative Agent.

 

“Commitment”
shall mean for any Lender, its obligation to make Loans up to the maximum principal amount shown on Schedule 2.01,
as hereafter modified pursuant to an Assignment and Acceptance to which it is a party. “Commitments” shall mean
the aggregate amount of such commitments of all Lenders.

 

“Commitment
Letter” shall mean that certain Commitment Letter dated November 15, 2020 by and among the Borrower and Tensile Capital
Management LLC.

 

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

 

    	 	7	 

     

    

 

“Confirmation
Order” shall mean the Order Confirming the Revised Second Amended Joint Plan of Reorganization of Tuesday Morning Corporation,
et al., pursuant to Chapter 11 of the Bankruptcy Code Docket No. 1913 entered by the Bankruptcy Court on December 23, 2020.

 

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

 

“Contractual
Obligation” shall mean, as applied to any Person, any provision of any security issued by that Person or of any indenture,
mortgage, deed of trust, contract, written undertaking, agreement or other instrument to which that Person is a party or by which
it or any of its properties is bound or to which it or any of its properties is subject.

 

“Control”
shall mean the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies
of a Person, whether through the ownership of voting securities, by contract or otherwise, and “Controlling”
and “Controlled” shall have meanings correlative thereto.

 

“Control Agreement”
shall mean an agreement that grants the Administrative Agent “control” within the meaning of Section 9-104 of the UCC
in effect in the applicable jurisdiction over the applicable Deposit Account, commodity account or securities account, in form
and substance reasonably satisfactory to the Administrative Agent.

 

“Cost”
shall mean the lower of cost or market value of Inventory, determined in accordance with the accounting policies used in the preparation
of the Borrower’s audited financial statements (pursuant to which the retail method of accounting is utilized for substantially
all merchandise Inventories), which policies are in effect on the Closing Date. “Cost” does not include inventory capitalization
costs or other non-purchase price charges (such as freight) used in the Borrower’s calculation of cost of goods sold.

 

“Covered Entity”
shall mean any of the following:

 

		(i)	a “covered entity” as that term is defined in, and interpreted in accordance with, 12
C.F.R. § 252.82(b);

 

		(ii)	a “covered bank” as that term is defined in, and interpreted in accordance with, 12 C.F.R.
 § 47.3(b); or

 

		(iii)	a “covered FSI” as that term is defined in, and interpreted in accordance with, 12 C.F.R.
 § 382.2(b).

 

“Covered Party”
shall have the meaning assigned to it in Section 9.21.

 

“Debt Incurrence
Prepayment Event” shall mean any issuance or incurrence by the Holdings, Borrower or any of the Subsidiaries of any Indebtedness
(excluding any Indebtedness permitted to be issued or incurred under Section 6.01) that occurs after the ABL Loan Obligations
have been Paid in Full (as defined in the Intercreditor Agreement).

 

    	 	8	 

     

    

 

“Declined
Proceeds” shall have the meaning assigned to such term in Section 2.11(b)(iv).

 

“Default”
shall mean any event or condition that upon notice, lapse of time or both would constitute an Event of Default.

 

“Default Rate”
shall have the meaning assigned to such term in Section 2.13(d).

 

“Default Right”
has the meaning assigned to that term in, and shall be interpreted in accordance with, 12 C.F.R. §§ 252.81, 47.2 or 382.1,
as applicable.

 

“Deferred
Net Cash Proceeds” shall have the meaning assigned such term in the definition of Net Cash Proceeds.

 

“Deferred
Net Cash Proceeds Payment Date” shall have the meaning assigned such term in the definition of Net Cash Proceeds.

 

“Deposit Account”
shall have the meaning assigned thereto in Article 9 of the UCC.

 

“DIP ABL Credit
Agreement” shall have the meaning assigned such terms in the recitals to this Agreement.

 

“DIP RE Credit
Agreement” shall mean that certain Senior Secured Super Priority Debtor-In-Possession Delayed Draw Term Loan Agreement
dated as of July 10, 2020 (as amended, restated, amended and restated, supplemented or otherwise modified from time to time prior
to the Closing Date), among the Borrower, Holdings, the other guarantors party thereto, the lenders party thereto, and Franchise
Group, Inc., as administrative agent.

 

“Disposition”
shall mean any sale, transfer, lease or other disposition (whether effected pursuant to a Division or otherwise) of assets. “Dispose”
shall have a meaning correlative thereto.

 

“Dividing
Person” has the meaning assigned to it in the definition of “Division”.

 

“Division”
shall mean the division of the assets, liabilities and/or obligations of a Person (the “Dividing Person”) among
two or more Persons (whether pursuant to a “plan of division” or similar arrangement), which may or may not include
the Dividing Person and pursuant to which the Dividing Person may or may not survive.

 

“Dollars”
or “$” shall mean lawful money of the United States of America.

 

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

 

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

 

    	 	9	 

     

    

 

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

 

“Electronic
Signature” shall mean an electronic sound, symbol, or process attached to, or associated with, a contract or other record
and adopted by a Person with the intent to sign, authenticate or accept such contract or record.

 

“Electronic
System” shall mean any electronic system, including e-mail, e-fax, web portal access for the Borrower and any other Internet
or extranet-based site, whether such electronic system is owned, operated or hosted by any Person, providing for access to data
protected by passcodes or other security system.

 

“Eligible
Assignee” shall mean (i) any Lender, any Affiliate of any Lender and any Related Fund (any two or more Related Funds
being treated as a single Eligible Assignee for all purposes hereof) and (ii) any commercial bank, insurance company, investment
or mutual fund or other entity that is an “accredited investor” (as defined in Regulation D under the Securities
Act) and which extends credit or buys loans.

 

“Enforcement
Action” shall mean any action to enforce any Obligations or Loan Documents or to exercise any rights or remedies relating
to any Collateral (whether by judicial action, self-help, notification of Account Debtors, exercise of setoff or recoupment, exercise
of any right to vote or act in a Loan Party’s Insolvency Proceeding, or otherwise), in each case solely to the extent permitted
by the Loan Documents.

 

“environment”
shall mean ambient and indoor air, surface water and groundwater (including potable water, navigable water and wetlands), the land
surface or subsurface strata, natural resources such as flora and fauna, the workplace or as otherwise defined in any Environmental
Law.

 

“Environmental
Laws” shall mean all laws (including common law), rules, regulations, codes, ordinances, orders, decrees or judgments,
promulgated or entered into by or with any Governmental Authority, relating in any way to the environment, preservation or reclamation
of natural resources, the generation, management, Release or threatened Release of, or actual or alleged exposure to, any Hazardous
Materials or to occupational health and safety (to the extent relating to the environment or Hazardous Materials).

 

“Equity Interests”
of any Person shall mean any and all shares, interests, participations or other equivalents of or interests in (however designated)
equity of such Person, including any preferred stock, any limited or general partnership interest and any limited liability company
membership interest and any and all warrants, rights or options to purchase or other rights to acquire any of the foregoing, but
excluding for the avoidance of doubt any Indebtedness convertible into or exchangeable for any of the foregoing (until so converted
or exchanged).

 

“ERISA”
shall mean the Employee Retirement Income Security Act of 1974, as amended, or any successor statute and the rules and regulations
promulgated thereunder.

 

    	 	10	 

     

    

 

“ERISA Affiliate”
shall mean any trade or business (whether or not incorporated) that, together with any Loan Party, is treated as a single employer
under Section 414(b) or (c) of the Code, or, solely for purposes of Section 302 of ERISA and Section 412 of the Code,
is treated as a single employer under Section 414 (m) or (o) of the Code.

 

“ERISA Event”
shall mean (a) any Reportable Event; (b) the existence with respect to any Loan Party, any ERISA Affiliate or any Plan
of a non-exempt Prohibited Transaction; (c) the failure by any Plan to satisfy the minimum funding standards (within the meaning
of Section 412 of the Code or Section 302 of ERISA), applicable to such Plan, whether or not waived; (d) the filing
pursuant to Section 412(c) of the Code or Section 302(c) of ERISA of an application for a waiver of the minimum funding
standard with respect to any Plan, the failure to make by its due date a required installment under Section 430(j) of the
Code with respect to any Plan or the failure to make any required contribution to a Multiemployer Plan; (e) the receipt by
any Loan Party or any ERISA Affiliate from the PBGC or a plan administrator of any notice relating to an intention to terminate
any Plan or to appoint a trustee to administer any Plan under Section 4042 of ERISA; (f) the receipt by any Loan Party
or any ERISA Affiliate of any notice, or the receipt by any Multiemployer Plan from any Loan Party or any ERISA Affiliate of any
notice, concerning the imposition of Withdrawal Liability or a determination that a Multiemployer Plan is, or is expected to be,
Insolvent, in Reorganization, or terminated (within the meaning of Section 4041A of ERISA); or (g) the failure by any
Loan Party or any ERISA Affiliate to pay when due (after expiration of any applicable grace period) any installment payment with
respect to Withdrawal Liability under Section 4201 of ERISA.

 

“EU Bail-In
Legislation Schedule” shall mean the EU Bail-In Legislation Schedule published by the Loan Market Association (or any
successor person), as in effect from time to time.

 

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

 

“Exchange
Act” shall mean the Securities Exchange Act of 1934, as amended from time to time and any successor statute.

 

“Excluded
Assets” shall have the meaning assigned to such term in Section 5.09(h).

 

“Excluded
Deposit Accounts” shall mean (a) Deposit Accounts used specifically, solely and exclusively for Tax and Trust Funds,
(b) any ABL Priority Collateral Account, (c) Deposit Accounts that do not have a daily balance at any time in excess of $250,000;
provided that the aggregate amount of funds in all Deposit Accounts excluded under this clause (c) shall not exceed $1,000,000
and (d) the General Unsecured Cash Fund Deposit Account.

 

“Excluded
Subsidiary” shall mean (a) any Subsidiary that is prohibited by law, regulation or Contractual Obligation in existence
on the Closing Date and not entered into in contemplation of this Agreement from providing a Guarantee of the Obligations or that
would require a governmental (including regulatory) consent, approval, license or authorization in order to provide such Guarantee,
(b) any Subsidiary for which a Guarantee of the Obligations by such Subsidiary would result in material adverse tax consequences
as reasonably determined by the Borrower in consultation with the Administrative Agent (acting at the direction of the Required
Lenders), (c) Tuesday Morning Cares, a Texas not-for-profit entity, and (d) any Subsidiary to the extent that the burden or
cost of obtaining a Guarantee of the Obligations from such Subsidiary outweighs the benefit afforded thereby, as reasonably determined
by the Administrative Agent (acting at the direction of the Required Lenders) and the Borrower; provided that, in no event
shall any Subsidiary that guarantees the ABL Loan Obligations or any other Material Indebtedness constitute an “Excluded
Subsidiary”.

 

    11 

     

    

 

“Excluded
Taxes” shall mean, with respect to any Lender Party or any other recipient of any payment to be made by or on account
of any obligation of the Borrower hereunder, (a) income taxes imposed on (or measured by) its net income (or franchise taxes
imposed in lieu of net income taxes) by any jurisdiction under the laws of which such recipient is organized or in which its principal
office is located or, in the case of any Lender, in which its applicable Lending Office is located or any other jurisdiction as
a result of such recipient engaging in a trade or business in such jurisdiction for tax purposes (other than engaging in a trade
or business as a result of having executed, delivered, become a party to, performed its obligations under, received payments under,
received or perfected a security interest under, engaged in any other transaction pursuant to or enforced any Loan Document, or
sold or assigned an interest in any Loan or Loan Document), (b) any branch profits tax or any similar tax that is imposed
by any jurisdiction described in clause (a) above, (c) in the case of a Lender making a Loan to the Borrower, any U.S.
federal withholding tax that (x) is in effect under Applicable Law and would apply to amounts payable hereunder to such Lender
at the time such Lender becomes a party to such Loan to the Borrower (or designates a new Lending Office) except to the extent
that such Person (or its assignor, if any) was entitled, at the time of designation of a new Lending Office (or assignment), to
receive additional amounts from a Loan Party with respect to any U.S. federal withholding tax pursuant to Section 2.17(a)
or Section 2.17(c) or (y) is attributable to such Lender’s failure to comply with Section 2.17(e)
with respect to such Loan unless such failure to comply with Section 2.17(e) is a result of a change in law after the
date such Lender becomes a party to such Loan to the Borrower (or designates a new Lending Office), (d) any interest, additions
to taxes or penalties with respect to the foregoing and (e) any withholding taxes imposed pursuant to FATCA.

 

“Existing
Debt” shall mean the Indebtedness outstanding under the Prepetition Credit Agreement, the DIP ABL Credit Agreement and
the DIP RE Credit Agreement.

 

“Fairness
Opinion” shall have the meaning assigned to such term in Section 6.07(b)(x).

 

“FATCA”
shall mean Sections 1471 through 1474 of the Code, as of the date of this Agreement (or any amended or successor version that
is substantively comparable and not materially more onerous to comply with), any current or future regulations or official interpretations
thereof, any agreements entered into pursuant to Section 1471(b)(1) of the Code and any fiscal or regulatory legislation, rules
or practices adopted pursuant to any intergovernmental agreement, treaty or convention among Governmental Authorities and implementing
such Sections of the Code.

 

“Financial
Officer” of any Person shall mean the Chief Financial Officer, principal accounting officer, Treasurer, Assistant Treasurer
or Controller of such Person.

 

    12 

     

    

 

“FIRREA”
shall mean the Financial Institutions Reform, Recovery and Enforcement Act of 1989, as amended.

 

“Fiscal Year”
shall mean each 12-month period ending on June 30th.

 

“Flood Documentation”
shall mean, with respect to each Mortgaged Property located in the United States or any territory thereof, (i) a completed
 “life-of-loan” Federal Emergency Management Agency standard flood hazard determination (together with a notice about
Special Flood Hazard Area status and flood disaster assistance duly executed by the applicable Loan Party relating thereto) and
(ii) a copy of, or a certificate as to coverage under, and a declaration page relating to, the insurance policies required
by Section 5.02(b) hereof and the applicable provisions of the Security Documents, each of which shall (A) be
endorsed or otherwise amended to include a “standard” or “New York” lender’s loss payable or mortgagee
endorsement (as applicable), (B) name the Administrative Agent, on behalf of the Secured Parties, as additional insured and
loss payee/mortgagee and (C) identify the address of each property located in a Special Flood Hazard Area, the applicable
flood zone designation and the flood insurance coverage and deductible relating thereto and (iii) be otherwise in form and
substance reasonably satisfactory to the Administrative Agent and sufficient to comply with Flood Insurance Laws.

 

“Flood Insurance
Laws” shall mean, collectively, (i) the National Flood Insurance Act of 1968 as now or hereafter in effect or any
successor statute thereto, (ii) the Flood Disaster Protection Act of 1973 as now or hereafter in effect or any successor statue
thereto, (iii) the National Flood Insurance Reform Act of 1994 as now or hereafter in effect or any successor statute thereto
and related legislation, (iv) the Flood Insurance Reform Act of 2004 as now or hereafter in effect or any successor statute
thereto and (v) the Biggert-Waters Flood Insurance Reform Act of 2012 as now or hereafter in effect or any successor statute
thereto.

 

“Foreign Benefit
Arrangement” shall mean any employee benefit arrangement mandated by non-U.S. law that is maintained or contributed to
by any Loan Party or any ERISA Affiliate.

 

“Foreign Lender”
shall mean any Lender that is not a U.S. Person.

 

“Foreign Plan”
shall mean each employee benefit plan (within the meaning of Section 3(3) of ERISA, whether or not subject to ERISA) that
is not subject to U.S. law and is maintained or contributed to by any Loan Party or any ERISA Affiliate.

 

“Foreign Plan
Event” shall mean, with respect to any Foreign Benefit Arrangement or Foreign Plan, (a) the failure to make or,
if applicable, accrue in accordance with normal accounting practices, any employer or employee contributions required by Applicable
Law or by the terms of such Foreign Benefit Arrangement or Foreign Plan; (b) the failure to register or loss of good standing
with applicable regulatory authorities of any such Foreign Benefit Arrangement or Foreign Plan required to be registered; or (c) the
failure of any Foreign Benefit Arrangement or Foreign Plan to comply with any material provisions of Applicable Law and regulations
or with the material terms of such Foreign Benefit Arrangement or Foreign Plan.

 

    13 

     

    

 

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

 

“GAAP”
shall mean generally accepted accounting principles in effect from time to time in the United States.

 

“General Intangible”
shall mean any “general intangible” as such term is defined in the UCC.

 

“General Unsecured
Cash Fund” shall have the meaning assigned to such term in the Plan of Reorganization.

 

“General Unsecured
Cash Fund Deposit Account” shall mean the Deposit Account of the Borrower maintained with Signature Bank in which the
General Unsecured Cash Fund is deposited and maintained.

 

“General Unsecured
Cash Fund Escrow Agreement” shall mean that certain Escrow Deposit Agreement, dated on or about the Closing Date, between
Parent, Bankruptcy Management Solutions, Inc., and Signature Bank, in its capacity as escrow agent.

 

“Governmental
Authority” shall mean any federal, state, local or foreign court or governmental agency, authority, instrumentality or
regulatory or legislative body or any entity or officer exercising executive, legislative, judicial, regulatory or administrative
functions of or pertaining to any government or any court, in each case whether associated with a state of the United States, the
United States, or a foreign entity or government.

 

“Guarantee”
of or by any Person (the “guarantor”) shall mean (a) any obligation, contingent or otherwise, of the guarantor
guaranteeing or having the economic effect of guaranteeing any Indebtedness or other obligation of any other Person (the “primary
obligor”) in any manner, whether directly or indirectly, and including any obligation of the guarantor, direct or indirect,
(i) to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or other obligation (whether
arising by virtue of partnership arrangements, by agreement to keep well, to purchase assets, goods, securities or services, to
take-or-pay or otherwise) or to purchase (or to advance or supply funds for the purchase of) any security for the payment of such
Indebtedness or other obligation, (ii) to purchase or lease property, securities or services for the purpose of assuring the
owner of such Indebtedness or other obligation of the payment thereof, (iii) to maintain working capital, equity capital or
any other financial statement condition or liquidity of the primary obligor so as to enable the primary obligor to pay such Indebtedness
or other obligation, (iv) entered into for the purpose of assuring in any other manner the holders of such Indebtedness or
other obligation of the payment thereof or to protect such holders against loss in respect thereof (in whole or in part) or (v) as
an account party in respect of any letter of credit or letter of guaranty issued to support such Indebtedness or other obligation,
or (b) any Lien on any assets of the guarantor securing any Indebtedness of any other Person, whether or not such Indebtedness
or other obligation is assumed by the guarantor; provided, however, that the term “Guarantee” shall not
include (x) endorsements for collection or deposit, in either case in the ordinary course of business or (y) customary
and reasonable indemnity obligations in effect on the Closing Date or entered into in connection with any acquisition or disposition
of assets permitted under this Agreement. The amount of any Guarantee for purposes of clause (b) shall be deemed to
be equal to the lesser of (i) the aggregate unpaid amount of such Indebtedness and (ii) the fair market value of the
property encumbered thereby as determined by such Person in good faith.

 

    14 

     

    

 

“guarantor”
shall have the meaning assigned to such term in the definition of the term “Guarantee.”

 

“Guarantors”
shall mean, collectively, Parent, Intermediate Holdings, the Subsidiary Guarantors and any other Loan Party (including the Borrower
with respect to any Secured Obligations of another Loan Party).

 

“Hazardous
Materials” shall mean all pollutants, contaminants, wastes, chemicals, materials, substances and constituents of any
nature which are subject to regulation by any Governmental Authority or which would reasonably be likely to give rise to liability
under any Environmental Law, including, without limitation, explosive or radioactive substances or petroleum or petroleum distillates,
asbestos or asbestos containing materials, polychlorinated biphenyls or radon gas.

 

“Holdings”
shall mean a collective reference to Parent and Intermediate Holdings, or, if Intermediate Holdings ceases to exist, shall mean
Parent.

 

“Indebtedness”
of any Person shall mean, without duplication, (a) all obligations of such Person for borrowed money, (b) all obligations
of such Person evidenced by bonds, debentures, notes or similar instruments to the extent the same would appear as a liability
on a balance sheet prepared in accordance with GAAP, (c) all obligations of such Person under conditional sale or other title
retention agreements relating to property or assets purchased by such Person, (d) all obligations of such Person issued or
assumed as the deferred purchase price of property or services (other than current intercompany liabilities (but not any refinancings,
extensions, renewals or replacements thereof) incurred in the ordinary course of business and maturing within three hundred sixty-five
(365) days after the incurrence thereof), to the extent that the same would be required to be shown as a long term liability
on a balance sheet prepared in accordance with GAAP, (e) all Guarantees by such Person of Indebtedness of others, (f) all
Capital Lease Obligations of such Person, (g) all payments that such Person would have to make in the event of an early termination,
on the date Indebtedness of such Person is being determined, in respect of outstanding Swap Agreements net of payments such Person
would receive in the event of early termination on such date of determination, (h) the principal component of all obligations,
contingent or otherwise, of such Person as an account party in respect of letters of credit and (i) the principal component
of all obligations of such Person in respect of bankers’ acceptances. The Indebtedness of any Person shall include the Indebtedness
of any partnership in which such Person is a general partner, other than to the extent that the instrument or agreement evidencing
such Indebtedness expressly limits the liability of such Person in respect thereof. The Indebtedness of the Borrower and the Subsidiaries
shall exclude (i) accrued expenses and accounts and trade payables, (ii) liabilities under vendor agreements to the extent
such indebtedness may be satisfied through non-cash means such as purchase volume earnings credits and (iii) reserves for
deferred income taxes. For the avoidance of doubt, “Indebtedness” shall not include any amounts due or payable for
the benefit of the holders of Allowed General Unsecured Claims in accordance with the Plan of Reorganization.

 

    15 

     

    

 

“Indemnified
Taxes” shall mean (a) all Taxes imposed on or with respect to any payment made by or on account of any obligation of
any Loan Party under any Loan Document other than Excluded Taxes, and (b) Other Taxes.

 

“Indemnitee”
shall have the meaning assigned to such term in Section 9.05(b).

 

“Insolvency
Proceeding” shall mean any case or proceeding commenced by or against a Person under any state, federal, provincial,
territorial or foreign law for, or any agreement of such Person to, (a) the entry of an order for relief under the Bankruptcy
Code, or any other insolvency, bankruptcy, debtor relief or debt adjustment law; (b) the appointment of a receiver, interim
receiver, monitor, trustee, liquidator, administrator, conservator, custodian or other similar Person for such Person or any part
of its Property, including, in the case of any Lender, the Federal Deposit Insurance Corporation or any other state or federal
regulatory authority acting in such capacity; or (c) an assignment for the benefit of creditors.

 

“Insolvent”
with respect to any Multiemployer Plan, shall mean the condition that such plan is insolvent within the meaning of Section 4245
of ERISA.

 

“Intercreditor
Agreement” shall mean that certain Intercreditor and Subordination Agreement dated the Closing Date by and among the
Borrower, the Administrative Agent and the ABL Administrative Agent.

 

“Intermediate
Holdings” shall have the meaning assigned to such term in the introductory paragraph of this Agreement.

 

“Inventory”
has the meaning given that term in the UCC, and shall also include, without limitation, all: (a) goods which (i) are
leased by a Person as lessor, (ii) are held by a Person for sale or lease or to be furnished under a contract of service,
(iii) are furnished by a Person under a contract of service, or (iv) consist of raw materials, work in process, or materials
used or consumed in a business; (b) goods of said description in transit; (c) goods of said description which are returned,
repossessed or rejected; and (d) packaging, advertising, and shipping materials related to any of the foregoing.

 

“Investment”
shall have the meaning assigned to such term in Section 6.04.

 

“IRS”
shall mean the United States Internal Revenue Service.

 

“Joint Venture”
shall mean a joint venture or similar arrangement, whether in corporate, partnership or other legal form which is not a Subsidiary
but in which the Borrower or any Subsidiary owns or controls any Equity Interests; provided, in no event shall any corporate
Subsidiary of any Person be considered to be a Joint Venture to which such Person is a party.

 

“Judgment
Currency” has the meaning assigned to such term in Section 9.24.

 

    16 

     

    

 

“Junior Lien”
shall mean a Lien that is subordinated to the Liens securing the Obligations on terms satisfactory to the Administrative Agent
(acting at the direction of the Required Lenders).

 

“Lender”
shall mean each financial institution listed on Schedule 2.01 (other than any such Person that has ceased to be a party
hereto pursuant to an Assignment and Acceptance in accordance with Section 9.04), as well as any Person that becomes
a “Lender” hereunder in accordance with Section 9.04.

 

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

 

“Lender Party”
shall mean the Administrative Agent or any Lender.

 

“Lending Office”
shall mean, as to any Lender, the applicable branch, office or Affiliate of such Lender designated by such Lender to make Loans.

 

“Liabilities”
shall mean any losses, claims (including intraparty claims), demands, damages or liabilities of any kind.

 

“Lien”
shall mean, with respect to any asset, (a) any mortgage, deed of trust, lien, hypothecation, pledge, encumbrance, charge or
security interest in or on such asset and (b) the interest of a vendor or a lessor under any conditional sale agreement, capital
lease or title retention agreement (or any financing lease having substantially the same economic effect as any of the foregoing)
relating to such asset.

 

“Loan”
shall mean a loan made pursuant to Section 2.01.

 

“Loan Documents”
shall mean, collectively, this Agreement, any promissory notes issued pursuant to this Agreement, the Security Documents, the Administrative
Agent Fee Letter, each compliance certificate, the Intercreditor Agreement, any subordination agreement, and all other agreements,
instruments, documents and certificates executed and delivered to, or in favor of, the Administrative Agent or any Lender and including
all other pledges, powers of attorney, consents, notices and all other written matter whether heretofore, now or hereafter executed
by or on behalf of any Loan Party, or any employee of any Loan Party, and delivered to the Administrative Agent or any Lender in
connection with this Agreement or the transactions contemplated hereby. Any reference in this Agreement or any other Loan Document
to a Loan Document shall include all appendices, exhibits or schedules thereto, and all amendments, restatements, supplements or
other modifications thereto, and shall refer to this Agreement or such Loan Document as the same may be in effect at any and all
times such reference becomes operative.

 

“Loan Parties”
shall mean Holdings, the Borrower, the Subsidiary Guarantors and any Parent Entity, in lieu of Holdings, that has executed and
delivered an assumption agreement in substantially the form of Exhibit D to the Collateral Agreement and become a “Guarantor”
and “Grantor” thereunder.

 

“Local Time”
shall mean Dallas time.

 

    17 

     

    

 

“Margin Stock”
shall mean margin stock within the meaning of Regulations T, U and X, as applicable.

 

“Material
Adverse Effect” shall mean a material adverse change in, or material adverse effect on (a) the business, assets,
financial condition or results of operations, in each case of Holdings, the Borrower and the Subsidiaries, taken as a whole, (b) the
validity or enforceability of the Loan Documents, (c) the ability of the Loan Parties, taken as a whole, to perform their obligations
under the Loan Documents, (d) the Collateral, or the Administrative Agent’s Liens (on behalf of itself and other Secured
Parties) on the Collateral or the priority of such Liens, or (e) the rights and remedies (taken as a whole) of the Administrative
Agent and the Lenders under the Loan Documents.

 

“Material
Agreement” shall mean, (a) the General Unsecured Cash Fund Escrow Agreement and (b) any other contract or agreement pursuant
to which Holdings or its Subsidiaries is a party that if breached could reasonably be expected to cause a Material Adverse Effect.

 

“Material
Indebtedness” shall mean, collectively, (i) the ABL Loan Obligations and (ii) any Indebtedness (other than the Loans),
of any one or more of Holdings and its Subsidiaries in an aggregate principal amount exceeding $5.0 million.

 

“Material
Intellectual Property” means any intellectual property that, individually or collectively, (a) is (i) necessary to the
business of the Borrower and its Subsidiaries as currently conducted or (ii) is otherwise material to the business or operations
of the Borrower and its Subsidiaries, taken as a whole, or (b) has a fair market value (as reasonably determined by the Borrower
in good faith) in excess of $1.0 million.

 

“Maturity
Date” shall mean December 31, 2024.

 

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

 

“Moody’s”
shall mean Moody’s Investors Service, Inc.

 

“Mortgage”
shall mean any mortgage, deed of trust or other agreement in form and substance reasonably satisfactory to the Administrative Agent,
which conveys or evidences a Lien in favor of the Administrative Agent, for the benefit of the Administrative Agent and the other
Secured Parties, on the applicable Real Property, including any amendment, restatement, modification or supplement thereto.

 

“Mortgageable
Real Property” shall mean (a) any fee owned real property and related fixtures that is adjacent to, contiguous with or
necessary or related to or used in connection with any real property then subject to a Mortgage in favor of the Administrative
Agent, or (b) any other fee owned real property and related fixtures that either (i) has a fair market value in an amount equal
to or greater than $1.0 million (or if an Event of Default has occurred and is continuing, then regardless of the fair market value
of such real property and related fixtures) or (ii) is subject to a Lien in favor of the ABL Administrative Agent to secure the
ABL Loan Obligations. For the avoidance of doubt, no real property that is subject to the Sale Leaseback shall be “Mortgageable
Real Property.”

 

    18 

     

    

 

“Mortgaged
Properties” shall mean the fee owned real properties of the Loan Parties encumbered by a Mortgage pursuant to Section 5.09,
if any.

 

“Multiemployer
Plan” shall mean a multiemployer plan as defined in Section 4001(a)(3) of ERISA to which any Loan Party or any ERISA
Affiliate (other than one considered an ERISA Affiliate only pursuant to subsection (m) or (o) of Code Section 414) is
making or accruing an obligation to make contributions, or has within any of the preceding six (6) plan years made or
accrued an obligation to make contributions.

 

“Net Cash
Proceeds” shall mean, with respect to any Prepayment/Reinvestment Event, (i) the gross cash proceeds (including payments
from time to time in respect of installment obligations, if applicable, but only as and when received) received by or on behalf
of Parent, Holdings, Borrower or any of its Subsidiaries in respect of such Prepayment/Reinvestment Event, less (ii) the sum of:

 

(a)       the
amount, if any, of all taxes (including in connection with any repatriation of funds) paid or estimated to be payable by Holdings,
the Borrower or any of their Subsidiaries in connection with such Prepayment/Reinvestment Event,

 

(b)       the
amount of any reasonable reserve established in accordance with GAAP against any liabilities (other than any taxes deducted pursuant
to clause (a) above) (1) associated with the assets that are the subject of such Prepayment/Reinvestment Event and (2) retained
by the Holdings, the Borrower or any of their Subsidiaries; provided that the amount of any subsequent reduction of such reserve
(other than in connection with a payment in respect of any such liability) shall be deemed to be Net Cash Proceeds of such a Prepayment/Reinvestment
Event occurring on the date of such reduction,

 

(c)       the
amount of any Indebtedness (other than the Loans) secured by a Lien on the assets that are the subject of such Prepayment/Reinvestment
Event to the extent that the instrument creating or evidencing such Indebtedness requires that such Indebtedness be repaid upon
consummation of such Prepayment/Reinvestment Event,

 

(d)       in
the case of any Casualty Event, the amount of any proceeds of such Prepayment/Reinvestment Event that Holdings, the Borrower or
any Subsidiary has reinvested (or intends to reinvest within the Reinvestment Period or has entered into a binding commitment prior
to the last day of the Reinvestment Period to reinvest) in the respective businesses of the Borrower or any of the Subsidiaries
by replacing properties or assets that are the subject of such Casualty Event or purchasing or constructing assets in the ordinary
course of the business of Borrower and its Subsidiaries; provided that any portion of such proceeds that has not been so reinvested
within such Reinvestment Period (with respect to such Prepayment/Reinvestment Event, the “Deferred Net Cash Proceeds”)
shall, unless the Borrower or a Subsidiary has entered into a binding commitment prior to the last day of such Reinvestment Period
to so reinvest such proceeds no later than 180 days following the last day of such Reinvestment Period, (1) be deemed to be Net
Cash Proceeds of a Casualty Event, occurring on the last day of such Reinvestment Period or, if later, 180 days after the date
Holdings, the Borrower or such Subsidiary has entered into such binding commitment, as applicable (such last day or 180th day,
as applicable, the “Deferred Net Cash Proceeds Payment Date”), and (2) be applied to the repayment of Loans
and other Obligations in accordance with Section 2.11,

 

    19 

     

    

 

(e)       in
the case of any Casualty Event, by a non-wholly-owned Subsidiary, the pro rata portion of the Net Cash Proceeds thereof (calculated
without regard to this clause (e)) attributable to non-controlling interests and not available for distribution to or for the account
of Holdings, the Borrower or a wholly-owned Subsidiary as a result thereof; and

 

(g)       all
documented fees and out-of-pocket expenses paid by Holdings, the Borrower or a Subsidiary in connection with any of the foregoing,

 

in each case, only to
the extent not already deducted in arriving at the amount referred to in clause (i) above.

 

“Note”
shall have the meaning assigned to such term in Section 2.09(d).

 

“Obligations”
shall mean for purposes of the Loan Documents, all obligations of every nature of each Loan Party from time to time owed to the
Administrative Agent (including any former Administrative Agent) or the Lenders, under any Loan Document, whether for principal,
premiums (including the Prepayment Premium), interest (including interest, fees and other amounts which, but for the filing of
a petition in bankruptcy with respect to such Loan Party, would have accrued on any such Obligation, whether or not a claim is
allowed against such Loan Party for such interest, fees and other amounts in the related bankruptcy proceeding), fees, expenses,
indemnification or otherwise.

 

“OFAC”
shall mean the Office of Foreign Assets Control of the United States Department of the Treasury.

 

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

 

“Other Taxes”
shall mean any and all present or future stamp, court, intangible, recording, filing, documentary, excise, property or similar
Taxes arising from any payment made hereunder or from the execution, delivery, performance or enforcement or registration of, from
the receipt or perfection of a security interest under, or otherwise with respect to, the Loan Documents, and any and all interest
and penalties related thereto.

 

“Paid in Full”
or “Payment in Full” means, (a) the payment in full in cash of all outstanding Loans, together with accrued
and unpaid interest thereon and any premiums including the Prepayment Premium, (b) the payment in full in cash of all accrued and
unpaid fees, (c) the payment in full in cash of all reimbursable expenses and other Secured Obligations (other than obligations
for taxes, indemnification, charges and other inchoate or contingent or reimbursable liabilities for which no claim or demand for
payment has been made or, in the case of indemnification, no notice has been given (or, in each case, reasonably satisfactory arrangements
have otherwise been made) and other obligations expressly stated to survive such payment and termination of this Agreement), together
with accrued and unpaid interest thereon and (d) the termination of all Commitments.

 

    20 

     

    

 

 

“Parent”
shall have the meaning assigned to such term in the introductory paragraph of this Agreement.

 

“Parent Entity”
shall mean any of (i) Holdings and (ii) any other Person of which Holdings is a Subsidiary.

 

“Participant”
shall have the meaning assigned to such term in Section 9.04(g).

 

“Participant
Register” shall have the meaning assigned to such term in Section 9.04(g).

 

“PBGC”
shall mean the Pension Benefit Guaranty Corporation referred to and defined in ERISA and any successor entity performing similar
functions.

 

“Perfection
Certificate” shall mean a certificate in form reasonably satisfactory to the Administrative Agent (acting at the direction
of the Required Lenders) that provides information with respect to the Loan Parties and the Property of each Loan Party.

 

“Permitted
Business Acquisition” shall mean any acquisition by the Borrower or any other Loan Party of all or substantially all
of the assets of, or All Outstanding Equity Interests in, a Person or division or line of business of a Person, provided
that: (i) on the date of execution of the purchase agreement in respect of such acquisition, no Event of Default shall have
occurred and be continuing or would result therefrom; (ii) if the aggregate total consideration to be paid by the Borrower
or any Subsidiary exceeds $2.5 million, the Borrower shall have delivered to the Administrative Agent at least five (5) days
prior to such acquisition a certificate of a Responsible Officer of the Borrower to such effect, together with all financial information
for such Subsidiary or assets that is reasonably requested by the Administrative Agent (acting at the direction of the Required
Lenders) and available to the Borrower; and (iii) if (with respect to any acquisition of a Person or any Equity Interests
in a Person) the acquired Person shall not become a Subsidiary Guarantor or (with respect to any acquisition of assets) the assets
shall be acquired by a Subsidiary that is not a Subsidiary Guarantor, the aggregate amount of cash or property paid by the Loan
Parties in connection with such acquisition shall not exceed $2.5 million; and (iv) the total consideration paid or payable (including
Indebtedness) for all such acquisitions shall not exceed $5 million during the term of this Agreement.

 

“Permitted
Investments” shall mean:

 

(a)              
direct obligations of the United States of America or any agency thereof or obligations guaranteed by the United States
of America or any agency thereof, in each case with maturities not exceeding two (2) years;

 

    21 

     

    

 

(b)              
time deposit accounts, certificates of deposit and money market deposits maturing within one hundred eighty (180) days
of the date of acquisition thereof issued by a bank or trust company that is organized under the laws of the United States of America,
any state thereof or any foreign country recognized by the United States of America having capital, surplus and undivided profits
in excess of $250.0 million and whose long-term debt, or whose parent holding company’s long-term debt, is rated A (or
such similar equivalent rating or higher by at least one (1) nationally recognized statistical rating organization (as defined
in Rule 436 under the Securities Act));

 

(c)              
repurchase obligations with a term of not more than one hundred eighty (180) days for underlying securities of the
types described in clause (a) above entered into with a bank meeting the qualifications described in clause (b)
above;

 

(d)              
commercial paper, maturing not more than one (1) year after the date of acquisition, issued by a corporation organized
and in existence under the laws of the United States of America or any foreign country recognized by the United States of America
with a rating at the time as of which any investment therein is made of P-2 (or higher) according to Moody’s, or A-1 (or
higher) according to S&P;

 

(e)              
securities with maturities of two (2) years or less from the date of acquisition issued or fully guaranteed by any
State, commonwealth or territory of the United States of America, or by any political subdivision or taxing authority thereof,
and rated at least A by S&P or A by Moody’s;

 

(f)               
shares of mutual funds whose investment guidelines restrict 95% of such funds’ investments to those satisfying the
provisions of clauses (a) through (e) above; and

 

(g)              
money market funds that (i) comply with the criteria set forth in Rule 2a-7 under the Investment Company Act of
1940, (ii) are rated AAA by S&P and Aaa by Moody’s and (iii) have portfolio assets of at least $5.0 billion.

 

“Permitted
Refinancing Indebtedness” shall mean any Indebtedness issued in exchange for, or the net proceeds of which are used to
extend, refinance, renew, replace, defease or refund (collectively, to “Refinance”), the Indebtedness being
Refinanced (or previous refinancings thereof constituting Permitted Refinancing Indebtedness); provided that (a) the
principal amount (or accreted value, if applicable) of such Permitted Refinancing Indebtedness does not exceed the principal amount
(or accreted value, if applicable) of the Indebtedness so Refinanced (plus unpaid accrued interest and premium thereon, any committed
or undrawn amounts and underwriting discounts, fees, commissions and expenses, associated with such Permitted Refinancing Indebtedness),
except as otherwise permitted under Section 6.01, (b) other than with respect to Indebtedness permitted pursuant
to Section 6.01(h) and Section 6.01(i), such Permitted Refinancing Indebtedness has a final maturity date
equal to or later than the final maturity date of, and has a Weighted Average Life to Maturity equal to or greater than the Weighted
Average Life to Maturity of the Indebtedness being Refinanced, (c) if the Indebtedness being Refinanced is (i) by its terms
subordinated in right of payment to the Obligations under this Agreement or (ii) unsecured Indebtedness, such Permitted Refinancing
Indebtedness shall (x)(i) be subordinated in right of payment to such Obligations on terms not materially less favorable to the
Lenders as those contained in the documentation governing the Indebtedness being Refinanced, taken as a whole, or (ii) remain unsecured,
respectively, and (y) have a final maturity date equal to or later than one hundred eighty (180) days after the Maturity Date,
(d) no Permitted Refinancing Indebtedness shall have obligors or contingent obligors that were not obligors or contingent
obligors (or that would not have been required to become obligors or contingent obligors) in respect of the Indebtedness being
Refinanced except to the extent otherwise permitted under Section 6.01 or Section 6.04, and (e) if the Indebtedness
being Refinanced is (or would have been required to be) secured with any Term Loan Priority Collateral, such Permitted Refinancing
Indebtedness shall (x) be secured by a Junior Lien with respect to the Term Loan Priority Collateral pursuant to an intercreditor
arrangement reasonably satisfactory to the Administrative Agent (acting at the direction of the Required Lenders) and (y) other
than with respect to Indebtedness permitted pursuant to Section 6.01(j), have a final maturity date equal to or later
than one hundred eighty (180) days after the Maturity Date.

 

    22 

     

    

 

“Person”
shall mean any natural person, corporation, business trust, joint venture, association, company, partnership, limited liability
company, individual or family trust, or other organization (whether or not a legal entity), or any government or any agency or
political subdivision thereof.

 

“Petition
Date” shall have the meaning assigned such terms in the recitals to this Agreement.

 

“Plan”
shall mean any employee pension benefit plan (other than a Multiemployer Plan) subject to the provisions of Title IV of ERISA
or Section 412 of the Code or Section 302 of ERISA, and in respect of which any Loan Party or any ERISA Affiliate is
(or, if such plan were terminated, would under Section 4062 or Section 4069 of ERISA be deemed to be) an “employer”
as defined in Section 3(5) of ERISA.

 

“Plan Asset
Regulations” shall mean 29 CFR § 2510.3-101 et seq., as modified by Section 3(42) of ERISA, as amended from
time to time.

 

“Plan of Reorganization”
shall have the meaning assigned to such term in the recitals to this Agreement.

 

“Plan Sale
Leaseback” shall have the meaning assigned to the term “Sale Leaseback” in the Plan of Reorganization.

 

“Prepayment/Reinvestment
Event” shall mean any Debt Incurrence Prepayment Event or any Casualty Event.

 

“Prepayment
Premium” shall mean an amount (which shall not be less than zero) equal to (x) $31,250,000 minus (y) the aggregate
principal amount of the Loans advanced as of such date, plus all accrued interest thereon accrued as of such date (through and
including such date).

 

“Prepetition
Credit Agreement” shall mean that Credit Agreement, dated as of August 18, 2015, as amended, among the Borrower, the
guarantors thereunder, the lenders party thereto from time to time, JPMorgan Chase Bank, N.A., as administrative agent, and the
other agents and parties party thereto from time to time.

 

    23 

     

    

 

“primary obligor”
shall have the meaning assigned to such term in the definition of “Guarantee.”

 

“Pro Rata”
shall mean with respect to any Lender, a percentage (rounded to the ninth decimal place) determined (a) while Commitments
are outstanding, by dividing the amount of such Lender’s Commitment by the aggregate amount of all Commitments; and (b) at
any other time, by dividing the amount of such Lender’s Loans by the aggregate amount of all outstanding Loans.

 

“Prohibited
Transaction” shall have the meaning assigned to such term in Section 406 of ERISA and/or Section 4975(c) of
the Code.

 

“Property”
shall mean any interest in any kind of property or asset, whether real, personal or mixed, or tangible or intangible (including
cash, securities, accounts, contract rights and Equity Interests or other ownership interests of any Person), whether now in existence
or owned or hereafter acquired.

 

“PTE”
shall mean a prohibited transaction class exemption issued by the U.S. Department of Labor, as any such exemption may be amended
from time to time.

 

“QFC”
has the meaning assigned to the term “qualified financial contract” in, and shall be interpreted in accordance with,
12 U.S.C. 5390(c)(8)(D).

 

“QFC Credit
Support” has the meaning assigned to it in Section 9.21.

 

“Qualified
Capital Stock” shall mean any Equity Interest of any Person that does not by its terms (or by the terms of any security
into which it is convertible or for which it is exchangeable or exercisable) or upon the happening of any event (a) provide
for scheduled payments of dividends in cash (other than at the option of the issuer) prior to the date that is, at the time of
issuance of such Equity Interest, ninety-one (91) days after the Maturity Date, (b) become mandatorily redeemable at
the option of the holder thereof (other than for Qualified Capital Stock or pursuant to customary provisions relating to redemption
upon a change of control or sale of assets) pursuant to a sinking fund obligation or otherwise prior to the date that is, at the
time of issuance of such Equity Interest, ninety-one (91) days after the Maturity Date or (c) become convertible or exchangeable
at the option of the holder thereof for Indebtedness or Equity Interests that are not Qualified Capital Stock; provided further,
that if any such Equity Interest is issued pursuant to a plan for the benefit of the employees, directors, officers, managers or
consultants of Holdings (or any Parent Entity thereof), the Borrower or its Subsidiaries or by any such plan to such Persons, such
Equity Interest shall not be regarded as an Equity Interest not constituting Qualified Capital Stock solely because it may be required
to be repurchased by Holdings (any Parent Entity), the Borrower or its Subsidiaries in order to satisfy applicable regulatory obligations.

 

“Real Property”
shall have the meaning assigned to such term in Section 3.07(c).

 

“Real Property
Documents” shall mean, with respect to any real property, (a) a FIRREA compliant appraisal of such real property
from appraisers engaged by the Administrative Agent, (b) Flood Documentation reasonably satisfactory to the Administrative
Agent, (c) survey documentation reasonably satisfactory to the Administrative Agent, (d) a Title Insurance Policy, (e) opinions
addressed to the Administrative Agent and the Lenders of (i) local counsel in each jurisdiction where the Mortgaged Property
is located with respect to the enforceability of the Mortgages and other matters customarily included in such local law opinions
and (ii) counsel for the Borrower regarding due authorization, execution and delivery of the Mortgages, in each case, in form
and substance reasonably satisfactory to the Administrative Agent, (f) such other requirements or documents as may be reasonably
requested by the Administrative Agent (acting at the direction of the Required Lenders) and (g) any other documentation or
confirmation required to be delivered or made pursuant to Section 5.09(f) and Section 5.09(g).

 

    24 

     

    

 

“Refinance”
shall have the meaning assigned to such term in the definition of the term “Permitted Refinancing Indebtedness,” “Refinancing”
and “Refinanced” shall have meanings correlative thereto.

 

“Refunding
Capital Stock” shall have the meaning assigned to such term in Section 6.06(i).

 

“Register”
shall have the meaning assigned to such term in Section 9.04(e).

 

“Regulated
Lender Entity” shall have the meaning assigned to such term in Section 5.09(f).

 

“Regulation
D” shall mean Regulation D of the Board, as in effect from time to time and all official rulings and interpretations
thereunder or thereof.

 

“Regulation
T” shall mean Regulation T of the Board, as in effect from time to time and all official rulings and interpretations
thereunder or thereof.

 

“Regulation
U” shall mean Regulation U of the Board as from time to time in effect and all official rulings and interpretations
thereunder or thereof.

 

“Regulation
X” shall mean Regulation X of the Board as from time to time in effect and all official rulings and interpretations
thereunder or thereof.

 

“Reinvestment
Period” shall mean 180 days following the date of receipt of Net Cash Proceeds of a Casualty Event.

 

“Rejection
Notice” shall have the meaning assigned to such term in Section 2.11(b)(iv).

 

“Related Fund”
shall mean, with respect to any Lender, any Person (other than a natural person) that is engaged in making, purchasing, holding
or otherwise investing in commercial loans and similar extensions of credit in the ordinary course of its activities and is administered,
advised or managed by (i) such Lender, (ii) an Affiliate of such Lender or (iii) an entity or an Affiliate of an
entity that administers, advises or manages such Lender.

 

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

 

“Release”
shall mean any spilling, leaking, seepage, pumping, pouring, emitting, emptying, discharging, injecting, escaping, leaching, dumping,
disposing, depositing, emanating or migrating in, into, onto or through the environment. “Released” shall have a meaning
correlative thereto.

 

    25 

     

    

 

“Reorganization”
shall mean, with respect to any Multiemployer Plan, the condition that such plan is in reorganization within the meaning of Section 4241
of ERISA.

 

“Report”
shall mean reports prepared by any Person on behalf of the Administrative Agent (at the direction of the Required Lenders) showing
the results of appraisals, field examinations or audits pertaining to the assets of the Loan Parties from information furnished
by or on behalf of the Borrower, which Reports may be distributed to the Lenders by the Administrative Agent.

 

“Reportable
Event” shall mean any reportable event as defined in Section 4043(c) of ERISA or the regulations issued thereunder
with respect to a Plan (other than a Plan maintained by an ERISA Affiliate that is considered an ERISA Affiliate only pursuant
to subsection (m) or (o) of Section 414 of the Code), other than those events as to which the thirty (30)-day notice
period referred to in Section 4043(c) of ERISA has been waived.

 

“Required
Lenders” shall mean, at any time, the Lenders holding more than 50% of the aggregate amount of Loans outstanding at any
time.

 

“Resolution
Authority” shall mean an EEA Resolution Authority or, with respect to any UK Financial Institution, a UK Resolution Authority.

 

“Responsible
Officer” of any Person shall mean any executive officer or Financial Officer of such Person and any other officer or
similar official thereof responsible for the administration of the obligations of such Person in respect of this Agreement.

 

“Restricted
Debt Payment” shall have the meaning assigned to such term in Section 6.09(b).

 

“Restricted
Payment” shall have the meaning assigned to such term in Section 6.06.

 

“Retained
Declined Proceeds” shall have the meaning assigned to such term in Section 2.11(b)(iv).

 

“Revolver
Loan” shall mean any “Revolver Loan” as defined in the ABL Credit Agreement.

 

“Rights Offerings”
shall have the meaning assigned to such term in the Plan of Reorganization.

 

“S&P”
shall mean Standard & Poor’s Ratings Services, a Standard & Poor’s Financial Services LLC business.

 

“Sale and
Lease-Back Transaction” shall have the meaning assigned to such term in Section 6.03.

 

    26 

     

    

 

“Sanctioned
Country” shall mean, at any time, a country, region or territory which is itself the subject or target of any Sanctions
(at the time of this Agreement, Crimea, Cuba, Iran, North Korea, and Syria).

 

“Sanctioned
Person” shall mean, at any time, (a) any Person listed in any Sanctions-related list of designated Persons maintained
by OFAC, the U.S. Department of State, the or by the United Nations Security Council, (b) any Person operating, organized
or resident in a Sanctioned Country, (c) any Person directly or indirectly owned or controlled (individually or in the aggregate)
by any such Person or Persons described in the foregoing clauses (a) or (b), or (d) any Person otherwise the subject, or
target, of any Sanctions.

 

“Sanctions”
shall mean individually and collectively, respectively, any and all economic sanctions, trade sanctions, financial sanctions, sectoral
sanctions, secondary sanctions, trade embargoes anti-terrorism laws and other sanctions laws, regulations or embargoes, including
those imposed, administered or enforced from time to time by:  (a) the United States of America, including those administered
by OFAC, the U.S. Department of State, the U.S. Department of Commerce, or through any existing or future executive order, (b) the
United Nations Security Council, (c) the European Union or any European Union member state, (d) Her Majesty’s Treasury
of the United Kingdom, or (e) any other Governmental Authority with jurisdiction over any Loan Party or any of their respective
Subsidiaries or Affiliates.

 

“SEC”
shall mean the Securities and Exchange Commission or any successor thereto.

 

“Secured Obligations”
shall mean the Obligations.

 

“Secured Parties”
shall mean (a) the Administrative Agent, (b) the Lenders and (c) the successors and assigns of each of the foregoing.

 

“Securities
Act” shall mean the Securities Act of 1933.

 

“Security
Documents” shall mean the Mortgages, the Collateral Agreement and any other agreements, instruments and documents executed
in connection with this Agreement that are intended to create, perfect or evidence Liens to secure the Secured Obligations, including,
without limitation, all other security agreements, pledge agreements, mortgages, deeds of trust, and Control Agreements now or
hereafter executed by any Loan Party and delivered to the Administrative Agent.

 

“Spring-Out
Date” shall have the meaning given to such term in the ABL Credit Agreement as in effect on the date hereof.

 

“Subordinated
Indebtedness” shall mean any unsecured Indebtedness of the Borrower or any Subsidiary that is expressly subordinated
in right of payment to the Obligations on terms reasonably satisfactory to the Administrative Agent (acting at the direction of
the Required Lenders).

 

“Subordinated
Intercompany Debt” shall have the meaning assigned to such term in Section 6.01(d).

 

    27 

     

    

 

“Subsidiary”
shall mean any direct or indirect subsidiary of the Borrower or a Loan Party, as applicable.

 

“subsidiary”
shall mean, with respect to any Person (the “parent”) at any date, any corporation, limited liability company, partnership,
association or other entity the accounts of which would be consolidated with those of the parent in the parent’s consolidated
financial statements if such financial statements were prepared in accordance with GAAP as of such date, as well as any other corporation,
limited liability company, partnership, association or other entity of which securities or other ownership interests representing
more than 50% of the equity or more than 50% of the ordinary voting power or, in the case of a partnership, more than 50% of the
general partnership interests are, as of such date, owned, controlled or held, by the parent and/or one or more subsidiaries of
the parent.

 

“Subsidiary
Guarantor” shall mean each Loan Party other than Holdings and the Borrower.

 

“Supported
QFC” has the meaning assigned to it in Section 9.21.

 

“Swap Agreement”
shall mean any agreement, contract, or transaction that constitutes a “swap” within the meaning of section 1a(47) of
the Commodity Exchange Act and any agreement with respect to any swap, forward, future or derivative transaction or option or similar
agreement involving, or settled by reference to, one (1) or more rates, currencies, commodities, equity or debt instruments or
securities, or economic, financial or pricing indices or measures of economic, financial or pricing risk or value or any similar
transaction or any combination of these transactions, provided that no phantom stock or other employee benefit plan providing
for payments only on account of services provided by current or former directors, officers, employees, members of management or
consultants of Holdings, the Borrower or any of their Subsidiaries shall be a Swap Agreement.

 

“Tax and Trust
Funds” means cash, cash equivalents or other assets comprised solely of (a) funds used for payroll and payroll taxes
and other employee benefit payments to or for the benefit of such Loan Party’s employees in the current period (which may
be monthly or quarterly, as applicable), (b) all taxes required to be collected, remitted or withheld in the current period (which
may be monthly or quarterly, as applicable) (including, without limitation, federal and state withholding taxes (including the
employer’s share thereof)) and (c) any other funds which any Loan Party holds in trust or as an escrow or fiduciary for another
person (which is not an Affiliate of a Loan Party) in the ordinary course of business and in connection with a transaction or arrangement
not prohibited under this Agreement.

 

“Tax Distributions”
shall have the meaning assigned to such term in Section 6.06(d).

 

“Taxes”
shall mean any and all present or future taxes, levies, imposts, duties (including stamp duties), deductions, charges (including
ad valorem charges), assessments, fees or withholdings imposed by any Governmental Authority and any and all interest and
penalties related thereto.

 

“Term Loan
Priority Collateral” shall have the meaning assigned such term in the Intercreditor Agreement.

 

    28 

     

    

 

“Term Loan
Priority Collateral Account” shall mean a Deposit Account subject to the sole dominion and control of the Administrative
Agent which holds solely identifiable proceeds of Term Loan Priority Collateral pending reinvestment or the application thereof
to the Obligations in accordance with the Loan Documents and the Intercreditor Agreement.

 

“Title Insurance
Policy” shall mean a mortgagee’s loan policy, in form and substance reasonably satisfactory to the Administrative
Agent (at the direction of the Required Lenders), together with all endorsements reasonably requested by the Administrative Agent
(at the direction of the Required Lenders), issued by or on behalf of a title insurance company reasonably satisfactory to the
Administrative Agent (at the direction of the Required Lenders), insuring the Lien created by a Mortgage in an amount and on terms
reasonably satisfactory to the Administrative Agent (at the direction of the Required Lenders), delivered to the Administrative
Agent.

 

“Transaction
Costs” shall mean fees and expenses payable or otherwise borne by Holdings, any other Parent Entity, the Borrower and
its Subsidiaries in connection with the Transactions occurring on or about the Closing Date.

 

“Transactions”
shall mean, collectively, the transactions to occur pursuant to the Loan Documents, including (a) the execution and delivery
of the Loan Documents and the borrowing of the Loans on the Closing Date, (b) the execution and delivery of the ABL Loan Documents
and the ABL Loan Obligations thereunder and (c) the repayment of the Existing Debt.

 

“UK Financial
Institutions” shall mean any BRRD Undertaking (as such term is defined under the PRA Rulebook (as amended from time to
time) promulgated by the United Kingdom Prudential Regulation Authority) or any person falling within IFPRU 11.6 of the FCA Handbook
(as amended from time to time) promulgated by the United Kingdom Financial Conduct Authority, which includes certain credit institutions
and investment firms, and certain affiliates of such credit institutions or investment firms.

 

“UK Resolution
Authority” shall mean the Bank of England or any other public administrative authority having responsibility for the
resolution of any UK Financial Institution.

 

“Uniform Commercial
Code” or “UCC” shall mean the Uniform Commercial Code as in effect from time to time in the State
of New York or in any other state the laws of which are required to be applied in connection with the issue of perfection of security
interests.

 

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

 

“U.S. Special
Resolution Regimes” shall have the meaning assigned to such term in Section 9.21.

 

“U.S. Tax
Compliance Certificate” shall have the meaning assigned to such term in Section 2.17(e)(ii)(B)(3).

 

    29 

     

    

 

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

 

“Weighted
Average Life to Maturity” shall mean, when applied to any Indebtedness at any date, the number of years obtained by dividing:
(a) the sum of the product obtained by multiplying (i) the amount of each then remaining installment, sinking fund, serial
maturity or other required payments of principal, including a payment at final maturity, in respect thereof, by (ii) the number
of years (calculated to the nearest one-twelfth that will elapse between such date and the making of such payment); by (b) the
outstanding principal amount of such Indebtedness.

 

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

 

“Write-Down
and Conversion Powers” shall mean, (a) with respect to any EEA Resolution Authority, the write-down and conversion powers
of such EEA Resolution Authority from time to time under the Bail-In Legislation for the applicable EEA Member Country, which write-down
and conversion powers are described in the EU Bail-In Legislation Schedule, and (b) with respect to the United Kingdom, any powers
of the applicable Resolution Authority under the Bail-In Legislation to cancel, reduce, modify or change the form of a liability
of any UK Financial Institution or any contract or instrument under which that liability arises, to convert all or part of that
liability into shares, securities or obligations of that person or any other person, to provide that any such contract or instrument
is to have effect as if a right had been exercised under it or to suspend any obligation in respect of that liability or any of
the powers under that Bail-In Legislation that are related to or ancillary to any of those powers.

 

Section 1.02       
Terms Generally.

 

(a)              
The definitions set forth or referred to in Section 1.01 shall apply equally to both the singular and plural
forms of the terms defined. The words “herein,” “hereto,” “hereof” and “hereunder”
and words of similar import when used in any Loan Document shall refer to such Loan Document as a whole and not to any particular
provision thereof. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter
forms. The words “include,” “includes” and “including” shall be deemed to be followed by the
phrase “without limitation.” All references herein to Articles, Sections, Exhibits and Schedules shall be deemed references
to Articles and Sections of, and Exhibits and Schedules to, the Loan Documents in which the reference appears unless the context
shall otherwise require.

 

(b)              
Except as otherwise expressly provided herein, any reference in this Agreement to any Loan Document or other document, agreement
or instrument (including any by-laws, limited partnership agreement, limited liability company agreement, articles of incorporation,
certificate of limited partnership or certificate of formation, as the case may be) shall mean such Loan Document, agreement or
instrument as amended, restated, amended and restated, supplemented, otherwise modified, replaced, renewed, extended or refinanced
from time to time and any reference in this Agreement to any Person shall include a reference to such Person’s permitted
assigns and successors-in-interest.

 

    30 

     

    

 

 

Section 1.03       
Accounting Terms.

 

(a)       
Except as otherwise expressly provided herein, all terms of an accounting or financial nature shall be construed in accordance
with GAAP, as in effect from time to time; provided that, if the Borrower notifies the Administrative Agent that the Borrower
requests an amendment to any provision hereof to eliminate the effect of any change occurring after the Closing Date in GAAP or
in the application thereof on the operation of such provision (or if the Administrative Agent notifies the Borrower that the Required
Lenders request an amendment to any provision hereof for such purpose), regardless of whether any such notice is given before or
after such change in GAAP or in the application thereof, then such provision shall be interpreted on the basis of GAAP as in effect
and applied immediately before such change shall have become effective until such notice shall have been withdrawn or such provision
amended in accordance herewith; provided further that if an amendment is requested by the Borrower or the Required Lenders,
then the Borrower and the Administrative Agent shall negotiate in good faith to enter into an amendment of such affected provisions
(without the payment of any amendment or similar fees to the Lenders) to preserve the original intent thereof in light of such
change in GAAP or the application thereof subject to the approval of the Required Lenders (not to be unreasonably withheld, conditioned
or delayed); provided further that all terms of an accounting or financial nature used herein shall be construed, and all
computations of amounts and ratios referred to herein shall be made without giving effect to (i) any election under Accounting
Standards Codification 825-10-25 (previously referred to as Statement of Financial Accounting Standards 159) (or any other Accounting
Standards Codification or Financial Accounting Standard having a similar result or effect) to value any Indebtedness or other liabilities
of the Borrower or any Subsidiary at “fair value,” as defined therein and (ii) any treatment of Indebtedness in
respect of convertible debt instruments under Accounting Standards Codification 470-20 (or any other Accounting Standards Codification
or Financial Accounting Standard having a similar result or effect) to value any such Indebtedness in a reduced or bifurcated manner
as described therein, and such Indebtedness shall at all times be valued at the full stated principal amount thereof.

 

(b)       
Notwithstanding anything to the contrary contained in paragraph (a) above or the definition of Capital Lease
Obligations, in the event of an accounting change requiring all leases to be capitalized, only those leases (assuming for purposes
hereof that they were in existence on the date hereof) that would constitute Capital Lease Obligations on the date hereof shall
be considered Capital Lease Obligations and all calculations and deliverables under this Agreement or any other Loan Document shall
be made in accordance therewith (provided that all financial statements delivered to the Lenders in accordance with the
terms of this Agreement after the date of such accounting change shall contain a schedule showing the adjustments necessary to
reconcile such financial statements with GAAP as in effect immediately prior to such accounting change). Notwithstanding anything
to the contrary, for all purposes under this Agreement (other than for purposes of Sections 5.04(a), (b) or (c)) and the other
Loan Documents, including negative covenants, financial covenants and component definitions, GAAP will be deemed to treat operating
leases and Capital Lease Obligations in a manner consistent with their treatment under GAAP as in effect on December 31, 2018,
notwithstanding any modifications or interpretive changes thereto that may occur thereafter.

 

    31

     

    

 

Section 1.04       
Rounding. Except as otherwise expressly provided herein, any financial ratios required
to be maintained by the Borrower pursuant to this Agreement shall be calculated by dividing the appropriate component by the other
component, carrying the result to one (1) place more than the number of places by which such ratio is expressed herein and
rounding the result up or down to the nearest number (with a rounding up if there is no nearest number).

 

Section 1.05       
Timing of Payment or Performance. When the payment of any obligation or the performance
of any covenant, duty or obligation is stated to be due or performance required on a day which is not a Business Day, the date
of such payment or performance shall extend to the immediately succeeding Business Day and such extension of time shall be reflected
in computing interest or fees, as the case may be.

 

Section 1.06       
Classification.

 

(a)        
For purposes of determining compliance at any time with Sections 6.01, 6.02, 6.04, 6.05, 6.06,
6.07 and 6.09, in the event that any Lien, Investment, Indebtedness, Disposition, Restricted Payment, affiliate transaction,
contractual restriction or prepayment of Indebtedness meets the criteria of more than one (1) of the categories of transactions
or items permitted pursuant to any clause of such Sections 6.01, 6.02, 6.04, 6.05, 6.06, 6.07
and 6.09, the Borrower, in its sole discretion, may classify or reclassify such transaction or item (or portion thereof)
and will only be required to include the amount and type of such transaction (or portion thereof) in any one (1) category; provided
that such transaction or item (or any portion thereof) may not be reclassified into Section 6.01(g), 6.04(r), 6.05(h),
6.06(h), 6.09(b) or 6.09(d).

 

(b)       
[Reserved].

 

Section 1.07       
References to Laws. Unless otherwise expressly provided herein, references to any
law shall include all statutory and regulatory provisions consolidating, amending, replacing, supplementing or interpreting such
law.

 

Section 1.08       
[Reserved]. 

 

Section 1.09       
[Reserved]. 

 

Section 1.10       
[Reserved].

 

Section 1.11       
Divisions. For all purposes under the Loan Documents, in connection with any Division or plan of division under Delaware
law (or any comparable event under a different jurisdiction’s laws): (a) if any asset, right, obligation or liability of
any Person becomes the asset, right, obligation or liability of a different Person, then it shall be deemed to have been transferred
from the original Person to the subsequent Person, and (b) if any new Person comes into existence, such new Person shall be deemed
to have been organized and acquired on the first date of its existence by the holders of its Equity Interests at such time.

 

    32

     

    

 

ARTICLE II

 

The Credits

 

Section 2.01        Commitments.
Subject to and upon the terms and conditions herein set forth, each Lender severally agrees to make Loans denominated in
Dollars to the Borrower on the Closing Date, which Loans shall not exceed for any such Lender the Commitment of such Lender and
in the aggregate shall not exceed $25,000,000.00. Such Loans may be repaid or prepaid (as set forth in Section 2.17)
in accordance with the provisions hereof, but once repaid or prepaid, may not be reborrowed.

 

Section 2.02       
[Reserved]

 

Section 2.03       
Request for Borrowing.

 

(a)        To request a Borrowing of Loans on the Closing Date, the Borrower shall notify the Administrative Agent of such request in writing
(delivered by email) by delivering a Borrowing Request signed by the Borrower not later than 12:00 p.m., Local Time, two
(2) Business Days before the Closing Date. Such Borrowing Request shall be irrevocable. Each such written Borrowing Request
shall specify the following information in compliance with Section 2.02:

 

(i)             
the aggregate amount of the requested Borrowing;

 

(ii)            
the date of such Borrowing, which shall be a Business Day; and

 

(iii)           
the location and number of the Borrower’s account to which funds are to be disbursed.

 

Promptly following receipt
of a Borrowing Request in accordance with this Section, the Administrative Agent shall advise each Lender of the details thereof
and of the amount of such Lender’s Loan to be made as part of the requested Borrowing.

 

Section 2.04       
[Reserved].

 

Section 2.05       
[Reserved].

 

Section 2.06       
Funding of the Borrowing.

 

(a)       
Each Lender shall make a Loan to be made by it hereunder on the proposed date thereof by wire transfer of immediately available
funds by 12:00 noon, Local Time, to the account of the Administrative Agent most recently designated by it for such purpose
by notice to the Lenders. Upon receipt of all requested funds, the Administrative Agent will make the proceeds of such Loans available
to the Borrower by promptly wire transferring the amounts so received, in like funds, to an account designated by the Borrower
in the Borrowing Request.

 

Section 2.07       
Administrative Agent Fee Letter. Borrower shall pay to the Administrative Agent,
fees in the amounts and at the times set forth in the Administrative Agent Fee Letter.

 

Section 2.08       
Repayment of Loans. All Loans plus all accrued and unpaid interest thereon
plus any Prepayment Premium and any other amounts then outstanding on the Obligations (including any Prepayment Premium) shall
be due and payable in full on the Maturity Date, unless payment is sooner required under this Agreement.

 

    33

     

    

 

Section 2.09       
Evidence of Debt.

 

(a)        
Each Lender shall maintain in accordance with its usual practice an account or accounts evidencing the indebtedness of the
Borrower to such Lender resulting from the Loans made by such Lender, including the amounts of principal and interest payable and
paid to such Lender from time to time hereunder.

 

(b)       
The Administrative Agent shall maintain the Register in which it shall record (i) the amount of each Loan made hereunder,
(ii) the amount of any principal or interest due and payable or to become due and payable from the Borrower to each Lender hereunder
and (iii) the amount of any sum received by the Administrative Agent hereunder for the account of the Lenders and each Lender’s
share thereof.

 

(c)       
The entries made in the accounts maintained pursuant to paragraph (a) or (b) of this Section shall be
prima facie evidence of the existence and amounts of the obligations recorded therein absent manifest error; provided that
the failure of any Lender or the Administrative Agent to maintain such accounts or any error therein shall not in any manner affect
the obligation of the Borrower to repay the Loans in accordance with the terms of this Agreement and, provided further that
in the event of any inconsistency between the Register and any Lender’s records, the recordations in the Register shall govern.

 

(d)       
Any Lender may request that the Loans made by it be evidenced by a promissory note (a “Note”) in the
form of Exhibit G. In such event, the Borrower shall prepare, execute and deliver to such Lender a promissory note payable to such
Lender (or, if requested by such Lender, to such Lender and its registered assigns). Thereafter, the Loans evidenced by such promissory
note and interest thereon shall at all times (including after assignment pursuant to Section 9.04) be represented by
one (1) or more promissory notes in such form.

 

Section 2.10       
[Reserved]. 

 

Section 2.11       
Prepayments of Loans. 

 

(a)       
Voluntary Prepayment. On and prior to the first anniversary of the Closing Date, the Borrower shall not have the
right to voluntarily prepay the Loans in whole or in part without the written consent of the Required Lenders. After the first
anniversary of the Closing Date and upon prior written notice in accordance with Section 2.11(d), the Borrower shall
have the right at any time and from time to time to prepay the Loans in whole (but not in part) in an amount equal to the aggregate
principal amount of the Loans outstanding plus all accrued interest to but excluding the date of such prepayment plus the Prepayment
Premium (if any).

 

(b)       
Mandatory Prepayment.

 

(i)             
Change in Control. Substantially concurrently with (but in no event more than one (1) Business Day following) the
consummation of any Change in Control, the Borrower shall prepay the Loans in whole in an amount equal to the aggregate principal
amount of the Loans outstanding plus all accrued interest to but excluding the date of such prepayment and any other amounts then
outstanding on the Obligations plus the Prepayment Premium (if any).

 

    34

     

    

 

(ii)            
Proceeds of a Debt Incurrence Prepayment Event/Casualty Event. Subject to the terms of the Intercreditor Agreement,
on each occasion that a Debt Incurrence Prepayment Event or Casualty Event occurs, the Borrower shall, within one (1) Business
Day after receipt of the Net Cash Proceeds of a Debt Incurrence Prepayment Event and within ten (10) Business Days after the the
occurrence of a Casualty Event (or, in the case of Deferred Net Cash Proceeds, within ten (10) Business Days after the Deferred
Net Cash Proceeds Payment Date), prepay, in accordance with clause (iii) below, Loans and other Obligations with an
amount equal to (x) 100% of the Net Cash Proceeds from such Debt Incurrence Prepayment Event or Casualty Event (to the extent not
reinvested) for application to the Loans plus (y) if such Debt Incurrence Prepayment Event or Casualty Event results in the payment
in full of the Loans, the Prepayment Premium.

 

(iii)           
Application to Term Loans. Subject to clause (iv) below, each prepayment required by Section 2.11(b)
shall be allocated pro rata among the Loans based on the applicable remaining principal due thereunder.

 

(iv)           
Rejection Right. Each Lender may reject all (but not less than all) of its pro rata share of any mandatory prepayment
with respect to a Debt Incurrence Prepayment Event or Casualty Event under clause (ii) above (such declined amounts,
the “Declined Proceeds”) of Loans by providing written notice (each, a “Rejection Notice”)
to the Administrative Agent no later than 3:00 p.m. Local Time one (1) Business Day prior to the requested date of such prepayment.
If a Lender fails to deliver a Rejection Notice to the Administrative Agent within the time frame specified above, any such failure
will be deemed an acceptance of the total amount of such mandatory prepayment of Loans. Any Declined Proceeds shall be retained
by the Borrower (“Retained Declined Proceeds”).

 

(c)       
[Reserved].

 

(d)       
The Borrower shall notify the Administrative Agent in writing, of any prepayment under this Agreement not later than 12:00
p.m., Local Time, three (3) Business Days before the date of such prepayment. Each such notice shall be irrevocable and shall specify
the prepayment date, the principal amount of each Borrowing or portion thereof to be prepaid, and the calculation of the amount
of such prepayment. Promptly following receipt of any such notice, the Administrative Agent shall advise the Lenders of the contents.

 

(e)       
In the event that all of the Loans are prepaid or required to be prepaid pursuant to this Section 2.11, (in each
case, whether before or after the occurrence of an Event of Default or the commencement of any insolvency or bankruptcy proceeding,
and notwithstanding any acceleration (for any reason) of the Obligations), the Borrower shall pay the Prepayment Premium. Notwithstanding
anything herein to the contrary, if a prepayment event described in this Section 2.11 occurs or exists which requires that
the Prepayment Premium be paid, then the Administrative Agent shall be paid, for the benefit of Lenders holding such Loans as an
inducement for making the Loans (and not as a penalty) the Prepayment Premium, which Prepayment Premium shall be fully earned,
and due and payable, on the date of such payment or prepayment, or on the date such payment or prepayment is required to be made,
as applicable, and non-refundable when made.

 

    35

     

    

 

(f)        
Without limiting the generality of the foregoing Section 2.11 and notwithstanding anything to the contrary in this
Agreement or any other Loan Document, the Loan Parties hereby acknowledge and agree that if the Obligations are accelerated for
any reason, including because of an Event of Default (including by operation of law or otherwise), the commencement of any insolvency
proceeding or other proceeding pursuant to any applicable debtor relief laws, sale, disposition or encumbrance (including that
by operation of law or otherwise) or a satisfaction or release by foreclosure (whether by power of judicial proceeding), deed in
lieu of foreclosure or by any other means, the Prepayment Premium, determined as of the date of acceleration will also be due and
payable as though said Obligations were voluntarily prepaid as of such date and shall constitute part of the Obligations, in view
of the impracticability and extreme difficulty of ascertaining actual damages and by mutual agreement of the parties as to a reasonable
calculation of each Lender’s lost profits as a result thereof. The Prepayment Premium payable in accordance with the immediately
preceding sentence shall be presumed to be the liquidated damages sustained by each Lender as the result of the early termination
and Borrower agrees that it is reasonable under the circumstances. Borrower expressly agrees that: (i) the Prepayment Premium is
reasonable and is the product of an arm’s length transaction between sophisticated business people, ably represented by counsel,
(ii) the Prepayment Premium shall be payable notwithstanding the then prevailing market rates at the time payment is made, (iii)
there has been a course of conduct between Lenders and the Loan Parties giving specific consideration in this transaction for such
agreement to pay the Prepayment Premium, and (iv) the Prepayment Premium represents a good faith, reasonable estimate and calculation
of the lost profits or damages of the Lenders and that it would be impractical and extremely difficult to ascertain the actual
amount of damages to the Lenders or profits lost by the Lenders as a result of such Event of Default. THE OBLIGORS EXPRESSLY WAIVE
THE PROVISIONS OF ANY PRESENT OR FUTURE STATUTE OR LAW THAT PROHIBITS OR MAY PROHIBIT THE COLLECTION OF THE PREPAYMENT PREMIUM
IN CONNECTION WITH ANY SUCH ACCELERATION. The Loan Parties expressly acknowledge that their respective agreement to pay the Prepayment
Premium as herein described is a material inducement to the Lenders to provide the Commitments hereunder and to make the Loans.
Furthermore, the Loan Parties acknowledge and agree that the Loan Parties and their respective affiliates shall be estopped hereafter
from claiming differently than as agreed to with respect to the Prepayment Premium and the Loan Parties acknowledge and agree that
the Prepayment Premium is not intended to act as a penalty or to punish the Loan Parties for any action. If the Loans are accelerated
for any reason under this Agreement, the Prepayment Premium applicable thereto shall be calculated as if the date of acceleration
of such Loans was the date of prepayment of such Loans. The parties hereto further acknowledge and agree that the Prepayment Premium
is not intended to act as a penalty or to punish the Loan Parties for any such repayment or prepayment.

 

Section 2.12       
[Reserved].

 

    36

     

    

 

Section 2.13       
Interest.

 

(a)        
The Loans shall bear interest on the outstanding principal amount thereof (including, for the avoidance of doubt, capitalized
interest that has already been added to principal) from the date when made to but excluding the date such Loans are fully repaid
at a rate of 14% per annum, accruing daily. Interest shall be paid in kind and capitalized as additional principal amounts of the
Loans, compounding on an annual basis on the last Business Day of each Fiscal Year of the Borrower and thereafter, shall bear interest
as provided hereunder as if such capitalized interest had originally been part of the outstanding principal amount of the Loans.

 

(b)       
[Reserved].

 

(c)       
[Reserved].

 

(d)      
Notwithstanding the foregoing, if (x) any principal of or interest on any Loan or any fees or premiums (including any Prepayment
Premium) or other amount payable by the Borrower hereunder is not paid when due, whether at stated maturity, upon acceleration
or otherwise or (y) any Event of Default exists, all outstanding amounts (including any Prepayment Premium) shall bear interest,
after as well as before judgment, at a rate per annum equal to (i) in the case of principal of, or interest on, any Loan,
2% plus the rate otherwise applicable to such Loan as provided in the preceding paragraphs of this Section or (ii) in the
case of any other amount, 2% plus the rate applicable to Loans as provided in paragraph (a) of this Section (in each
case, the “Default Rate”). Interest pursuant to this paragraph (d) shall be paid in kind and capitalized
as additional principal amounts of the Loans, compounding on an annual basis on the last Business Day of each Fiscal Year of the
Borrower and thereafter, shall bear interest as provided hereunder as if such capitalized interest had originally been part of
the outstanding principal amount of the Loans.

 

(e)       
Accrued interest on each Loan shall be payable as required by Section 2.13(a) or Section 2.13(d) and on the
Maturity Date; provided that in the event of any repayment or prepayment of any Loan, accrued interest on the principal
amount repaid or prepaid shall be payable on the date of such repayment or prepayment.

 

(f)       
All interest hereunder shall be computed on the basis of a year of three hundred sixty-five (365) days (or three hundred
sixty-six (366) days in a leap year), and in each case shall be payable for the actual number of days elapsed (including the
first day but excluding the last day).

 

Section 2.14       
[Reserved]. 

 

Section 2.15       
Increased Costs.

 

(a)       
[Reserved]

 

(b)       
If any Lender determines (i) that any Change in Law shall subject any Lender to any Taxes (other than (A) Indemnified Taxes,
(B) Taxes described in clauses (c) or (e) of the definition of Excluded Taxes and (C) Connection Income Taxes) on its loans, loan
principal, letters of credit, commitments, or other obligations, or its deposits, reserves, other liabilities or capital attributable
thereto or (ii) that any Change in Law regarding capital requirements or liquidity requirements has or would have the effect of
reducing the rate of return on such Lender’s capital or on the capital of such Lender’s holding company, if any, as
a consequence of this Agreement or the Loans made by such Lender to a level below that which such Lender or such Lender’s
holding company could have achieved but for such Change in Law (taking into consideration such Lender’s policies and the
policies of such Lender’s holding company with respect to capital adequacy and liquidity), then from time to time within
thirty (30) days of receipt of a certificate of the type specified in paragraph (d) below the Borrower shall pay
to such Lender, such additional amount or amounts as will compensate such Lender or such Lender’s holding company for any
such reduction suffered.

 

    37

     

    

 

(c)       
Notwithstanding anything herein to the contrary, (i) all requests, rules, guidelines, requirements and directives promulgated
by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or
by United States or foreign regulatory authorities, in each case pursuant to Basel III, and (ii) the Dodd-Frank Wall Street
Reform and Consumer Protection Act and all requests, rules, guidelines, requirements and directives thereunder or issued in connection
therewith or in implementation thereof, shall in each case be deemed to be a Change in Law, regardless of the date enacted, adopted,
issued or implemented.

 

(d)       
A certificate of a Lender setting forth in reasonable detail the calculation of the amount or amounts necessary to compensate
such Lender or its holding company, as applicable, as specified in paragraph (a) or (b) of this Section shall
be delivered to the Borrower and shall be conclusive absent manifest error; provided that such certificate from each such Lender
shall contain a certification to the Borrower that such Lender is generally requiring reimbursement for the relevant amounts from
similarly situated borrowers under comparable syndicated credit facilities. The Borrower shall pay such Lender, as applicable,
the amount shown as due on any such certificate within thirty (30) days after receipt thereof.

 

(e)       
Promptly after any Lender has determined that it will make a request for increased compensation pursuant to this Section 2.15,
such Lender shall notify the Borrower thereof. Failure or delay on the part of any Lender to demand compensation pursuant to this
Section shall not constitute a waiver of such Lender’s right to demand such compensation; provided that the Borrower
shall not be required to compensate a Lender pursuant to this Section for any increased costs or reductions incurred more than
ninety (90) days prior to the date that such Lender, as applicable, notifies the Borrower of the Change in Law giving rise
to such increased costs or reductions and of such Lender’s intention to claim compensation therefor; provided, further,
that, if the Change in Law giving rise to such increased costs or reductions is retroactive, then the ninety (90) day period
referred to above shall be extended to include the period of retroactive effect thereof.

 

Section 2.16       
[Reserved]. 

 

    38

     

    

 

Section 2.17       
Taxes.

 

(a)       
Any and all payments by or on account of any obligation of any Loan Party hereunder shall be made free and clear of and
without deduction or withholding for any Taxes, except as Required by Applicable Law; provided that if a Loan Party or other
applicable withholding agent shall be required by Applicable Law (as determined in the good faith discretion of such Loan Party
or other applicable withholding agent) to deduct any Indemnified Taxes or Other Taxes from such payments, then (i) the sum
payable by any Loan Party shall be increased as necessary so that after making all required deductions (including deductions applicable
to additional sums payable under this Section) the Administrative Agent, any Lender, as applicable, receives an amount equal to
the sum it would have received had no such deductions been made, (ii) the applicable withholding agent shall make such deductions
and (iii) the applicable withholding agent shall timely pay the full amount deducted to the relevant Governmental Authority
in accordance with Applicable Law.

 

(b)       
In addition, the Loan Parties shall timely pay to the relevant Governmental Authority
in accordance with Applicable, or, at the option of the Administrative Agent, timely reimburse it for, the payment of any Other
Taxes.

 

(c)       
Each Loan Party shall indemnify each Lender Party, within ten (10) days after written demand therefor, for the full
amount of any Indemnified Taxes or Other Taxes paid or payable by each Lender Party, on, or required to be withheld or deducted,
with respect to any payment by or on account of any obligation of such Loan Party hereunder (including Indemnified Taxes or Other
Taxes imposed or asserted on or attributable to amounts payable under this Section) and any penalties, interest and reasonable
expenses arising therefrom or with respect thereto, whether or not such Indemnified Taxes or Other Taxes were correctly or legally
imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such payment or liability, prepared
in good faith and delivered to such Loan Party by a Lender Party on its own behalf or on behalf of another Lender, shall be conclusive
absent manifest error.

 

(d)       
As soon as practicable after any payment of Indemnified Taxes or Other Taxes by a Loan Party to a Governmental Authority,
such Loan Party shall deliver to the Administrative Agent the original or a certified copy of a receipt issued by such Governmental
Authority evidencing such payment, a copy of the return reporting such payment or other evidence of such payment reasonably satisfactory
to the Administrative Agent (acting at the direction of the Required Lenders).

 

(e)       
(i) Any Lender that is entitled to an exemption from or reduction of withholding Tax with respect to payments made under
any Loan Document shall deliver to the Borrower and the Administrative Agent, at the time or times reasonably requested by the
Borrower or the Administrative Agent, such properly completed and executed documentation reasonably requested by the Borrower or
the Administrative Agent as will permit such payments to be made without withholding or at a reduced rate of withholding. In addition,
any Lender, if reasonably requested by the Borrower or the Administrative Agent, shall deliver such other documentation prescribed
by Applicable Law or reasonably requested by the Borrower or the Administrative Agent as will enable the Borrower or the Administrative
Agent to determine whether or not such Lender is subject to backup withholding or information reporting requirements. Notwithstanding
anything to the contrary in the preceding two (2) sentences, the completion, execution and submission of such documentation
(other than such documentation set forth in Section 2.17(e)(ii)(A), (ii)(B) and (ii)(D) below) shall
not be required if in the Lender’s reasonable judgment such completion, execution or submission would subject such Lender
to any material unreimbursed cost or expense or would materially prejudice the legal or commercial position of such Lender.

 

    39

     

    

 

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

 

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

 

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

 

(1)              
in the case of a Foreign Lender claiming the benefits of an income tax treaty to which the United States is a party
(x) with respect to payments of interest under any Loan Document, executed copies of IRS Form W-8BEN or W-8BEN-E establishing
an exemption from, or reduction of, U.S. federal withholding Tax pursuant to the “interest” article of such tax
treaty and (y) with respect to any other applicable payments under any Loan Document, IRS Form W-8BEN or W-8BEN-E establishing
an exemption from, or reduction of, U.S. federal withholding Tax pursuant to the “business profits” or “other
income” article of such tax treaty;

 

(2)               executed
copies of IRS Form W-8ECI;

 

(3)               in
the case of a Foreign Lender claiming the benefits of the exemption for portfolio interest under Section 881(c) of the Code,
(x) a certificate substantially in the form of Exhibit F-1 to the effect that such Foreign Lender is not a “bank”
within the meaning of Section 881(c)(3)(A) of the Code, a “10 percent shareholder” of the Borrower within the
meaning of Section 881(c)(3)(B) of the Code, or a “controlled foreign corporation” related to the Borrower as
described in Section 881(c)(3)(C) of the Code (a “U.S. Tax Compliance Certificate”) and (y) executed
copies of IRS Form W-8BEN or W-8BEN-E; or

 

(4)               to
the extent a Foreign Lender is not the beneficial owner, executed copies of IRS Form W-8IMY, accompanied by IRS Form W-8ECI,
IRS Form W-8BEN or W-8BEN-E, a U.S. Tax Compliance Certificate substantially in the form of Exhibit F-2 or Exhibit F-3,
IRS Form W-9, and/or other certification documents from each beneficial owner, as applicable; provided that if the
Foreign Lender is a partnership and one (1) or more direct or indirect partners of such Foreign Lender are claiming the portfolio
interest exemption, such Foreign Lender may provide a U.S. Tax Compliance Certificate substantially in the form of Exhibit
F-4 on behalf of each such direct and indirect partner;

 

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

 

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

 

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

 

(f)         If the Administrative Agent or a Lender determines, in its sole discretion exercised in good faith, that it has received
a refund of any Indemnified Taxes or Other Taxes as to which it has been indemnified by a Loan Party or with respect to which such
Loan Party has paid additional amounts pursuant to this Section 2.17, it shall pay over such refund to such Loan Party
(but only to the extent of indemnity payments made, or additional amounts paid, by such Loan Party under this Section 2.17
with respect to the Indemnified Taxes or Other Taxes giving rise to such refund), net of all out-of-pocket expenses of the Administrative
Agent or such Lender (including any Taxes imposed with respect to such refund) as is determined by the Administrative Agent
or Lender and in its sole discretion, and without interest (other than any interest paid by the relevant Governmental Authority
with respect to such refund); provided that such Loan Party, upon the request of the Administrative Agent or such Lender,
agrees to repay as soon as reasonably practicable the amount paid over to such Loan Party (plus any penalties, interest or other
charges imposed by the relevant Governmental Authority) to the Administrative Agent or such Lender in the event the Administrative
Agent or such Lender is required to repay such refund to such Governmental Authority. Notwithstanding anything to the contrary
in this paragraph (f), in no event will the indemnified party be required to pay any amount to an indemnifying party
pursuant to this paragraph (f) the payment of which would place the indemnified party in a less favorable net after-Tax
position than the indemnified party would have been in if the Tax subject to indemnification and giving rise to such refund had
not been deducted, withheld or otherwise imposed and the indemnification payments or additional amounts with respect to such Tax
had never been paid. This Section 2.17(f) shall not be construed to require the Administrative Agent or any Lender
to make available its Tax returns (or any other information relating to its Taxes which it deems confidential) to the Loan Parties
or any other Person.

 

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(g)        [Reserved].

 

Section 2.18       Payments Generally; Pro Rata Treatment; Sharing of Set-offs.

 

(a)        Unless otherwise specified, the Borrower shall make each payment required to be made by it hereunder (whether of principal,
interest, fees, premiums (including the Prepayment Premium, if owed) or of amounts payable under Section 2.15, 2.16,
or 2.17, or otherwise) prior to 2:00 p.m., Local Time, on the date when due, in immediately available funds, without
condition or deduction for any defense, recoupment, set-off or counterclaim. Any amounts received after such time on any date may,
in the discretion of the Administrative Agent, be deemed to have been received on the next succeeding Business Day for purposes
of calculating interest thereon. All such payments shall be made to the Administrative Agent to the applicable account designated
to the Borrower by the Administrative Agent in writing from time to time. The Administrative Agent shall distribute any such payments
received by it for the account of any other Person to the appropriate recipient promptly following receipt off all required funds.
All payments hereunder shall be made in Dollars.

 

(b)        If at any time insufficient funds are received by and available to the Administrative Agent from the Borrower to pay fully
all amounts of principal, interest, premiums (including the Prepayment Premium, if owed) and fees then due from the Borrower hereunder,
such funds (except as otherwise provided in the Collateral Agreement with respect to the application of amounts realized from the
Collateral) shall be applied (i) first, towards payment of interest and fees then due from the Borrower hereunder,
ratably among the parties entitled thereto in accordance with the amounts of interest and fees then due to such parties, and (ii) second,
towards payment of principal and any premiums (including the Prepayment Premium, if owed) then due from the Borrower hereunder,
ratably among the parties entitled thereto in accordance with the amounts of principal and premiums (including the Prepayment Premium,
if owed) then due to such parties.

 

(c)        If (other than (x) any payment obtained by a Lender as consideration for the assignment or sale of a participation
in any of its Loans to any assignee or participant, including any assignee or participation that is a Loan Party or any of its
Affiliates or (y) as otherwise expressly provided elsewhere herein, including, without limitation, as provided in or contemplated
by Section 9.04(f)) any Lender shall, by exercising any right of set-off or counterclaim or otherwise, obtain payment
in respect of any principal of or interest on any of its Loans resulting in such Lender receiving payment of a greater proportion
of the aggregate amount of its Loans and accrued interest thereon than the proportion received by any other Lender, then the Lender
receiving such greater proportion shall purchase (for cash at face value) participations in the Loans of other Lenders to the extent
necessary so that the benefit of all such payments shall be shared by the Lenders ratably in accordance with the aggregate amount
of principal of and accrued interest on their respective Loans; provided that (i) if any such participations are purchased
and all or any portion of the payment giving rise thereto is recovered, such participations shall be rescinded and the purchase
price restored to the extent of such recovery, without interest, and (ii) the provisions of this paragraph (c)
shall not be construed to apply to any payment made by the Borrower pursuant to and in accordance with the express terms of this
Agreement. The Borrower consents to the foregoing and agrees, to the extent it may effectively do so under Applicable Law, that
any Lender acquiring a participation pursuant to the foregoing arrangements may exercise against the Borrower rights of set-off
and counterclaim with respect to such participation as fully as if such Lender were a direct creditor of the Borrower in the amount
of such participation.

 

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Section 2.19       Mitigation
Obligations; Replacement of Lenders.

 

(a)        If any Lender requests compensation under Section 2.15, or if the Borrower is required to pay any additional
amount to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 2.17, then such
Lender shall use commercially reasonable efforts to designate a different Lending Office for funding or booking its Loans hereunder
or to assign its rights and obligations hereunder to another of its offices, branches or Affiliates, if, in the reasonable judgment
of such Lender, such designation or assignment (i) would eliminate or reduce amounts payable pursuant to Section 2.15
or 2.17, as applicable, in the future and (ii) would not subject such Lender to any material unreimbursed cost or expense
and would not otherwise be disadvantageous to such Lender in any material respect. The Borrower hereby agrees to pay all reasonable
costs and expenses incurred by any Lender in connection with any such designation or assignment.

 

(b)       If any Lender requests compensation under Section 2.15, or if the Borrower is required to pay any additional
amount to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 2.17, then the
Borrower may, at its sole expense and effort, upon notice to such Lender and the Administrative Agent, (i)  repay all Obligations
(including any Prepayment Premium, if owed) of the Borrower owing to such Lender relating to the Loans and participations held
by such Lender as of such termination date or (ii) require such Lender to assign and delegate, without recourse (in accordance
with and subject to the restrictions contained in Section 9.04), all its interests, rights and obligations under this
Agreement to an assignee that shall assume such obligations (which assignee may be another Lender, if a Lender accepts such assignment);
provided that (i) the Borrower shall have received the prior written consent of the Administrative Agent, which consent
shall not unreasonably be withheld, (ii) such Lender shall have received payment of an amount equal to the outstanding principal
of its Loans, accrued interest thereon, accrued fees and all other amounts payable to it hereunder, 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), (iii) in
the case of any such assignment resulting from a claim for compensation under Section 2.15 or payments required to
be made pursuant to Section 2.17, such assignment will result in a reduction in such compensation or payments, (iv) [reserved],
(v) such assignment shall otherwise comply with Section 9.04 (provided that the Borrower shall be obligated
to pay the registration and processing fee referred to therein) and (vi) until such time as such Obligations (including any
Prepayment Premium, if owed) are repaid or such assignment is consummated, the Borrower shall pay all additional amounts (if any)
required pursuant to Section 2.15 or Section 2.17, as the case may be. Nothing in this Section 2.19
shall be deemed to prejudice any rights that the Borrower, the Administrative Agent or any Lender may have against any replaced
Lender. Each Lender hereby grants to the Administrative Agent an irrevocable power of attorney (which power is coupled with an
interest) to execute and deliver, on behalf of such Lender as assignor, any Assignment and Acceptance necessary to effectuate any
assignment of such Lender’s interests hereunder in the circumstances contemplated by this Section 2.19(b).

 

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ARTICLE III

Representations and Warranties

 

Each of Holdings (solely
to the extent applicable to it) and each other Loan Party represents and warrants to the Administrative Agent and each of the Lenders:

 

Section 3.01       Organization;
Powers. Each of Holdings, the Borrower and each of the Subsidiaries (a) is a limited
partnership, limited liability company or corporation duly organized, validly existing and in good standing (or, if applicable
in a foreign jurisdiction, enjoys the equivalent status under the laws of any jurisdiction of organization outside the United
States) under the laws of the jurisdiction of its organization, (b) has all requisite power and authority to own its property
and assets and to carry on its business as now conducted, (c) is qualified to do business and in good standing in each jurisdiction
where such qualification is required; except in each case referred to in this Section 3.01 (other than in clause (a)
and clause (b), respectively, with respect to
the Borrower), to the extent that failure to do so could not reasonably be expected to have a Material Adverse Effect.

 

Section 3.02       Authorization. The execution, delivery and performance by Holdings, the Borrower
and each of the Subsidiary Guarantors of each of the Loan Documents to which it is a party, and the borrowings hereunder, the consummation
of the Plan of Reorganization, the transactions forming a part of the Transactions and the payment of the Transaction Costs (a) have
been duly authorized by all corporate, stockholder, limited partnership or limited liability company action required to be obtained
by Holdings, the Borrower and such Subsidiary Guarantors and (b) will not (i) violate (A) any provision of (x) law,
statute, rule or regulation applicable to such party, or (y) of the certificate or articles of incorporation or other constitutive
documents or by-laws of Holdings, the Borrower or any such Subsidiary Guarantor, (B) any applicable order of any court or
any rule, regulation or order of any Governmental Authority or (C) any provision of any indenture, certificate of designation
for preferred stock, agreement or other instrument to which Holdings, the Borrower or any such Subsidiary Guarantor is a party
or by which any of them or any of their property is or may be bound, (ii) be in conflict with, result in a breach of or constitute
(alone or with notice or lapse of time or both) a default under, give rise to a right of or result in any cancellation or acceleration
of any right or obligation (including any payment) or to a loss of a material benefit under any such indenture, certificate of
designation for preferred stock, agreement or other instrument, where any such conflict, violation, breach or default referred
to in clause (b)(i)(A)(x), (b)(i)(B), (b)(i)(C) or (b)(ii) of this Section 3.02, could reasonably be expected to have, individually
or in the aggregate, a Material Adverse Effect, or (iii) result in the creation or imposition of any Lien upon or with respect
to any property or assets now owned or hereafter acquired by Holdings, the Borrower or any such Subsidiary Guarantor, other than
the Liens created by the Loan Documents and Liens permitted by Section 6.02 hereof.

 

Section 3.03       Enforceability. This Agreement has been duly executed and delivered by Holdings and
the Borrower and constitutes, and each other Loan Document when executed and delivered by each Loan Party that is party thereto
will constitute, a legal, valid and binding obligation of such Loan Party enforceable against each such Loan Party in accordance
with its terms, subject to (i) the effects of bankruptcy, insolvency, moratorium, reorganization, fraudulent conveyance or
other similar laws affecting creditors’ rights generally, (ii) general principles of equity (regardless of whether such
enforceability is considered in a proceeding in equity or at law) and (iii) implied covenants of good faith and fair dealing.

 

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Section 3.04       Governmental Approvals. No action, consent or approval of, registration or filing
with or any other action by any Governmental Authority is or will be required in connection with the consummation of the Plan of
Reorganization, the Transactions and the payment of the Transaction Costs, except for (a) the filing of Uniform Commercial
Code financing statements, (b) filings with the United States Patent and Trademark Office and the United States Copyright
Office and comparable offices in foreign jurisdictions and equivalent filings in foreign jurisdictions, (c) such as have been
made or obtained and are in full force and effect, (d) such actions, consents, approvals, registrations or filings the failure
to be obtained or made which could not reasonably be expected to have a Material Adverse Effect and (e) the recordation of Mortgages.

 

Section 3.05       Financial Statements.

 

(a)        All financial statements of the Borrower and its Subsidiaries that have been or may hereafter be delivered by any Loan Party
to the Administrative Agent and/or the Lenders present fairly, in all material respects, the consolidated financial condition and
results of operations and cash flows of the Borrower and its Subsidiaries as of the date(s) and for the period(s) thereof in accordance
with GAAP.

 

(b)        No Loan Party or any Subsidiary has as of the Closing Date any material indebtedness or any material contingent liabilities,
off-balance sheet liabilities or liabilities for Taxes, except as referred to or reflected in the financial statements of the Loan
Parties or their Subsidiaries previously delivered to the Lenders.

 

Section 3.06       No Material Adverse Effect. Since the Petition Date, no event, development, circumstance
or change has occurred that has or would reasonably be expected to have a Material Adverse Effect.

 

Section 3.07       Title to Properties; Possession Under Leases.

 

(a)        Each of Holdings, the Borrower and the Subsidiaries has good and insurable fee simple title to the Mortgaged Properties,
if any, and good and insurable fee simple title to, or good and valid interests in easements or other limited property interests
in, as applicable, all its other real properties and has good and valid title to its personal property and assets, in each case,
free and clear of Liens except for defects in title that do not impair the value thereof in any material respect or interfere with
its ability to conduct its business as currently conducted or to utilize such properties and assets for their intended purposes
and Liens expressly permitted by Section 6.02.

 

(b)        Each of Holdings, the Borrower and the Subsidiaries owns or possesses, or is licensed or otherwise has the right to use,
all patents, trademarks, service marks, trade names and copyrights and all licenses and rights with respect to the foregoing, reasonably
necessary for the present conduct of its business, without any conflict (of which the Borrower has been notified in writing) with
the rights of others, except where the failure to have such rights or where such conflicts and restrictions could not reasonably
be expected to have, individually or in the aggregate, a Material Adverse Effect. As of the Closing Date, to the knowledge of the
Loan Parties or any Subsidiary, the use of such trademarks, copyrights, patents, licenses and other intellectual property by each
Loan Party and each Subsidiary does not infringe in any material respect upon the rights of any other Person, and each Loan Party’s
and each Subsidiary’s rights thereto are not subject to any licensing agreement or similar arrangement except as set forth
on Schedule 3.07(b).

 

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(c)        As of the date of the Closing Date, Schedule 3.07(c) sets forth the address of each parcel of real property that
is owned by any Loan Party and each material parcel of real property that is leased by any Loan Party (collectively, the “Real
Property”). As of the Closing Date, to the knowledge of the Loan Parties and following the assumption of such leases
pursuant to the Plan of Reorganization, (i) each of such leases and subleases is valid and enforceable in accordance with its terms
and is in full force and effect, (ii) no Loan Party is in default under its material monetary obligations with respect to each
of its leases and subleases, and (iii) there are no other material defaults with respect to any of such leases or subleases, subject
to any applicable cure periods.

 

Section 3.08       Subsidiaries.

 

(a)        Schedule 3.08(a) sets forth as of the Closing Date the name and jurisdiction of incorporation, formation or
organization of each Subsidiary of Holdings and, as to each such Subsidiary, the percentage of each class of outstanding Equity
Interests owned by Holdings or by any such Subsidiary.

 

(b)        As of the Closing Date, there are no outstanding subscriptions, options, warrants, calls, rights or other agreements or
commitments (other than directors’ qualifying shares) of any nature relating to any Equity Interests of any Subsidiary.

 

Section 3.09       Litigation;
Compliance with Laws.

 

(a)        There are no actions, suits, investigations or proceedings at law or in equity or by or on behalf of any Governmental Authority
or in arbitration now pending against, or to the knowledge of Holdings or the Borrower threatened in writing against, Holdings
or the Borrower or any of the Subsidiaries or any business, property or rights of any such Person (i) that involve any Loan
Document, the Transactions or the payment of the Transaction Costs or (ii) that would reasonably be expected to have, individually
or in the aggregate, a Material Adverse Effect.

 

(b)       None of Holdings, the Borrower, the Subsidiaries or their respective properties or assets is in violation of any law, rule
or regulation (including any zoning, building, ordinance, code or approval or any building permit, but excluding any Environmental
Laws that are the subject of Section 3.16) or any restriction of record or agreement affecting any owned real property,
including the Mortgaged Property, or is in default with respect to any judgment, writ, injunction or decree of any Governmental
Authority, where such violation or default could reasonably be expected to have, individually or in the aggregate, a Material Adverse
Effect.

 

Section 3.10       Investment
Company Act. None of Holdings, the Borrower or any Subsidiary is an “investment company”
as defined in, or subject to regulation under, the Investment Company Act of 1940, as amended.

 

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Section 3.11       Use
of Proceeds. The proceeds of the Loans have been used and will be used, whether directly or
indirectly, as set forth in Section 5.13.

 

Section 3.12       Federal
Reserve Regulations.

 

(a)        None of Holdings, the Borrower or any Subsidiary is engaged principally, or as one of its important activities, in the business
of extending credit for the purpose of purchasing or carrying Margin Stock.

 

(b)        No part of the proceeds of any Loan will be used, whether directly or indirectly, and whether immediately, incidentally
or ultimately, (i) to purchase or carry Margin Stock or to extend credit to others for the purpose of purchasing or carrying
Margin Stock or to refund indebtedness originally incurred for such purpose, or (ii) for any purpose that entails a violation
of, or that is inconsistent with, the provisions of the Regulations of the Board, including Regulation U or Regulation X.

 

Section 3.13       Tax Returns.

 

(a)        Each of Holdings, the Borrower and its Subsidiaries has filed or caused to be filed all U.S. federal, state, local
and non-U.S. Tax returns required to have been filed by it that are material to such companies, taken as a whole, and each
such Tax return is true and correct in all material respects;

 

(b)        Each of Holdings, the Borrower and its Subsidiaries has timely paid or caused to be timely paid all material Taxes shown
to be due and payable by it on the returns referred to in clause (a) and all other Taxes or assessments (or made adequate
provision (in accordance with GAAP) for the payment of all such amounts due) (except Taxes or assessments that are being contested
in good faith by appropriate proceedings in accordance with Section 5.03 and for which Holdings, the Borrower or any
of its Subsidiaries (as the case may be) has set aside on its books adequate reserves (in accordance with GAAP), which Taxes, if
not paid or adequately provided for, could, individually or in the aggregate, reasonably be expected to have, a Material Adverse
Effect); and

 

(c)        With respect to each of Holdings, the Borrower and its Subsidiaries, no tax lien has been filed, and, to the knowledge of
the Borrower and its Subsidiaries, no claim is being asserted, with respect to any such Taxes, in each case in an amount in excess
of $2,000,000 in the aggregate for all such tax liens and claims.

 

Section 3.14       Disclosure.

 

(a)        The Loan Parties have disclosed to the Lenders all Material Agreements, instruments and corporate or other restrictions
to which any Loan Party or any Subsidiary is subject, and all other matters known to it, that, individually or in the aggregate,
could reasonably be expected to result in a Material Adverse Effect. Neither the Perfection Certificate nor any of the other reports,
financial statements, certificates or other information (other than information of a general economic or industry specific nature)
furnished by or on behalf of any Loan Party or any Subsidiary to the Administrative Agent or any Lender in connection with the
negotiation of this Agreement or any other Loan Document (as modified or supplemented by other information so furnished), when
taken as a whole, contains any material misstatement of fact or omits to state any material fact necessary to make the statements
therein, in the light of the circumstances under which they were made, not materially misleading; provided that, with respect
to projected financial information, the Loan Parties represent only that such information was prepared in good faith based upon
assumptions believed to be reasonable at the time delivered and, if such projected financial information was delivered prior to
the Closing Date, as of the Closing Date.

 

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(b)        As of the Closing Date, to the best knowledge of the Borrower, the information included in the Beneficial Ownership Certification
provided on or prior to the Closing Date to any Lender in connection with this Agreement, if any, is true and correct in all material
respects.

 

Section 3.15       Employee Benefit Plans.

 

(a)         Except as could not reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect: (i) each
Loan Party and each ERISA Affiliate is in compliance with the applicable provisions of ERISA and the provisions of the Code relating
to Plans and the regulations and published interpretations thereunder; and (ii) no ERISA Event has occurred or is reasonably
expected to occur; the present value of all accumulated benefit obligations under each Plan (based on those assumptions used for
purposes of Accounting Standards Codification No. 715: Compensation Retirement Benefits) did not, as of the date of the most
recent financial statements reflecting such amounts, exceed the fair market value of the assets of such Plan allocable to such
accrued benefits and the present value of all accrued benefit obligations of all underfunded Plans did not, as of the date of the
most recent financial statements reflecting such amounts, exceed the value of the assets of all such underfunded Plans.

 

(b)        Except as could not reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect, no Foreign
Plan Event has occurred.

 

Section 3.16       Environmental Matters. Except as to matters that could not reasonably be expected
to have, individually or in the aggregate, a Material Adverse Effect: (i) no written notice of violation, request for information,
order, complaint or assertion of penalty has been received by the Borrower or any of the Subsidiaries, and there are no judicial,
administrative or other actions, suits or proceedings pending or, to the knowledge of the Borrower, threatened which allege a violation
of or liability under any Environmental Laws or concerning Hazardous Materials, in each case relating to the Borrower or any of
the Subsidiaries, (ii) the Borrower and the Subsidiaries has all permits necessary for its operations to comply with all applicable
Environmental Laws and is, and during the term of all applicable statutes of limitation, has been, in compliance with the terms
of such permits and with all other applicable Environmental Laws, (iii) no Hazardous Material is located at any property currently
or formerly owned, operated or leased by the Borrower or any of the Subsidiaries in quantities or concentrations that would reasonably
be expected to give rise to any liability or obligation of the Borrower or any of the Subsidiaries under any Environmental Laws,
and no Hazardous Material has been generated by or on behalf of the Borrower or any of the Subsidiaries that has been transported
to or Released at or from any location in a manner that would reasonably be expected to give rise to any liability or obligation
of the Borrower or any of the Subsidiaries, and (iv) there is no agreement to which the Borrower or any of the Subsidiaries
is a party in which the Borrower or any of the Subsidiaries has assumed or undertaken, or retained, responsibility for any known
or reasonably likely liability or obligation arising under or relating to Environmental Laws.

 

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Section 3.17       Security
Documents.

 

(a)        The
Collateral Agreement is effective to create in favor of the Administrative Agent (for the benefit of the Secured Parties) a legal,
valid and enforceable security interest in the Collateral described therein and proceeds thereof. In the case of Deposit Accounts,
when Control Agreements are entered into by the Administrative Agent, and in the case of the other Collateral described in the
Collateral Agreement, when financing statements and other filings described on Schedule 3.17 are filed in the offices
specified on Schedule 3.17, the Administrative Agent (for the benefit of the Secured Parties) shall have a fully perfected
Lien on, and security interest in, all right, title and interest of the Loan Parties in such Collateral and, subject to Section 9-315
of the New York Uniform Commercial Code, the proceeds thereof, as security for the Obligations (including any Prepayment Premium,
if owed), in each case to the extent security interests in such Collateral can be perfected by the execution of Control Agreements
or the filing Uniform Commercial Code financing statements, as applicable, in each case prior and superior in right to any other
Person (except, Liens expressly permitted by Section 6.02).

 

(b)       The
Mortgages, if any, shall be effective to create in favor of the Administrative Agent (for the benefit of the Secured Parties) a
legal, valid and enforceable Lien on all of the Loan Parties’ right, title and interest in and to the Mortgaged Property
thereunder and the proceeds thereof, and when such Mortgages are filed or recorded in the proper real estate filing or recording
offices, the Administrative Agent (for the benefit of the Secured Parties) shall have a fully perfected Lien on, and security interest
in, all right, title and interest of the Loan Parties in such Mortgaged Property and, to the extent applicable, subject to Section 9-315
of the Uniform Commercial Code, the proceeds thereof, in each case prior and superior in right to any other Person, other than
with respect to the rights of a Person pursuant to Liens expressly permitted by Section 6.02.

 

Section 3.18       Solvency.
Immediately after giving effect to the consummation of the Plan of Reorganization (including the making of all distributions and
payments required thereunder), the Transactions and the payment of the Transaction Costs on the Closing Date and immediately following
the making of the Loans and the Revolver Loans (as defined in the ABL Credit Agreement) on the Closing Date and on the date of
each Borrowing (as defined in the ABL Credit Agreement) and after giving effect to the application of the proceeds of the Loans
and the Revolver Loans (as defined in the ABL Credit Agreement), (i) the fair value of the assets of Holdings, the Borrower
and its Subsidiaries on a consolidated basis, at a fair valuation, will exceed the debts and liabilities, direct, subordinated,
contingent or otherwise, of Holdings, the Borrower and its Subsidiaries on a consolidated basis, respectively; (ii) the present
fair saleable value of the property of Holdings, the Borrower and its Subsidiaries on a consolidated basis will be greater than
the amount that will be required to pay the probable liability of Holdings, the Borrower and its Subsidiaries on a consolidated
basis, respectively, on their debts and other liabilities, direct, subordinated, contingent or otherwise, as such debts and other
liabilities become absolute and matured; (iii) Holdings, the Borrower and its Subsidiaries on a consolidated basis will be
able to pay their debts and liabilities, direct, subordinated, contingent or otherwise, as such debts and liabilities become absolute
and matured; and (iv) Holdings, the Borrower and its Subsidiaries on a consolidated basis will not have unreasonably small
capital with which to conduct the businesses in which they are engaged as such businesses are now conducted and are proposed to
be conducted following the Closing Date.

 

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Section 3.19       Labor Matters. Except as, individually or in the aggregate, could not reasonably
be expected to have a Material Adverse Effect: (a) there are no strikes or other labor disputes pending or, to the knowledge
of Holdings or the Borrower, threatened in writing against the Borrower or any of the Subsidiaries; (b) the hours worked and
payments made to employees of the Borrower and the Subsidiaries have not been in violation of the Fair Labor Standards Act or any
other Applicable Law dealing with such matters; (c) all Persons treated as contractors by the Borrower and the Subsidiaries
are properly categorized as such, and not as employees, under Applicable Law; and (d) all payments due from the Borrower or
any of the Subsidiaries or for which any claim may be made against the Borrower or any of the Subsidiaries, on account of wages
and employee health and welfare insurance and other benefits have been paid or accrued as a liability on the books of the Borrower
or such Subsidiary to the extent required by GAAP. Except as, individually or in the aggregate, could not reasonably be expected
to have a Material Adverse Effect the consummation of the Transactions and the payment of the Transaction Costs will not give rise
to a right of termination or right of renegotiation on the part of any union under any material collective bargaining agreement
to which the Borrower or any of its Subsidiaries (or any predecessor) is a party or by which Holdings, the Borrower or any of its
Subsidiaries (or any predecessor) is bound.

 

Section 3.20       Insurance.
Schedule 3.20 sets forth a true, complete and correct description of all material insurance maintained by or on behalf
of Holdings, the Borrower or the Subsidiaries as of the Closing Date. The Borrower maintains, and has caused each Subsidiary to
maintain, with financially sound and reputable insurance companies, insurance on all their real and personal property in such
amounts, subject to such deductibles and self-insurance retentions and covering such properties and risks as are adequate and
customarily maintained by companies engaged in the same or similar businesses operating in the same or similar locations.

 

Section 3.21       USA
PATRIOT Act and OFAC.

 

(a)        To the extent applicable, each Loan Party is in compliance, in all material respects, with the (i) Trading with the
Enemy Act, as amended, and each of the foreign assets control regulations of the United States Treasury Department (31 CFR, Subtitle
B, Chapter V, as amended) and any other enabling legislation or executive order relating thereto, and (ii) USA PATRIOT
Act. To the knowledge of the Borrower, no part of the proceeds of the Loans will be used, directly or indirectly, for any payments
to any governmental official or employee, political party, official of a political party, candidate for political office, or anyone
else acting in an official capacity, in order to obtain, retain or direct business or obtain any improper advantage, in violation
of the United States Foreign Corrupt Practices Act of 1977, as amended.

 

(b)        The Borrower has implemented and maintains in effect policies and procedures designed to ensure compliance by the Loan Parties,
their Subsidiaries and their respective directors, officers, employees and agents with Anti-Corruption Laws and Sanctions, and
the Loan Parties, their Subsidiaries and their respective officers and employees.

 

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(c)        To the knowledge of the Loan Parties, each of their directors and agents are in compliance with Anti-Corruption Laws and
Sanctions in all material respects.

 

(d)        None of (i) Holdings, the Borrower, any Subsidiary or any of their respective directors, officers or employees, or
(ii) to the knowledge of the Borrower, any agent of Holdings, the Borrower or any Subsidiary that will act in any capacity
in connection with or benefit from the credit facility established hereby, is a Sanctioned Person.

 

(e)        No Loan or use of proceeds of any Loan by the Borrower or other transaction contemplated by this Agreement will violate
Anti-Corruption Laws or Sanctions.

 

Section 3.22       
EEA Financial Institution. No Loan Party is an EEA Financial Institution.

 

Section 3.23       
Plan Assets. None of the Borrower or any of its Subsidiaries is an entity deemed to hold “plan assets”
(within the meaning of the Plan Asset Regulations), and neither the execution, delivery nor performance of the transactions contemplated
under this Agreement, including the making of any Loan under this Agreement, will give rise to a non-exempt prohibited transaction
under Section 406 of ERISA or Section 4975 of the Code.

 

Section 3.24       
Common Enterprise. Each Loan Party expects to derive benefit (and its board of directors or other governing body
has determined that it may reasonably be expected to derive benefit), directly and indirectly, from the credit extended by the
Lenders to the Borrower hereunder, both in their separate capacities and as members of the group of companies. Each Loan Party
has determined that execution, delivery, and performance of this Agreement and any other Loan Documents to be executed by such
Loan Party is within its purpose, in furtherance of its direct and/or indirect business interests, will be of direct and/or indirect
benefit to such Loan Party, and is in its best interest.

 

Section 3.25       
Material Agreements. All Material Agreements to which any Loan Party or any Subsidiary is a party or is bound as
of the date of this Agreement are listed on Schedule 3.25. No Loan Party nor any Subsidiary is in default in the performance,
observance or fulfillment of any of the obligations, covenants or conditions contained in (i) any Material Agreement to which it
is a party or (ii) any agreement or instrument evidencing or governing any Material Indebtedness, in each case, except as could
not reasonably be expected, individually or in the aggregate, to result in a Material Adverse Effect.

 

ARTICLE IV

Conditions Precedent

 

Section 4.01       
Closing Date. The obligations of the Lenders to make Loans under this Agreement
shall not become effective until the date on which each of the following conditions are satisfied or waived:

 

(a)        The representations and warranties set forth in Article III hereof shall be true and correct in all material
respects (without duplication of any materiality qualification applicable thereto) as of such date, with the same effect as though
made on and as of such date, except to the extent such representations and warranties expressly relate to an earlier date (in which
case such representations and warranties shall be true and correct in all material respects (without duplication of any materiality
qualification applicable thereto) as of such earlier date).

 

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(b)        At the time of and immediately after giving effect to the Closing Date, no Event of Default or Default shall have occurred
and be continuing or would result from any Loan to occur on the date hereof or the application of the proceeds thereof.

 

(c)        The Lenders and the Administrative Agent (or their respective counsel) shall have received (i) from each party hereto a
counterpart of this Agreement signed on behalf of such party (which, subject to Section 9.13(b), may include any Electronic
Signatures transmitted by facsimile, emailed pdf. or any other electronic means that reproduces an image of an actual executed
signature page), (ii) either (A) a counterpart of each other Loan Document signed on behalf of each party thereto or (B) written
evidence satisfactory to the Lenders (which may include facsimile or other electronic transmission of a signed signature page thereof)
that each such party has signed a counterpart of such Loan Document.

 

(d)        The Administrative Agent shall have received, on behalf of itself and the Lenders on the Closing Date, a written opinion
from Haynes and Boone, LLP, special counsel for Holdings and the Borrower (A) dated the Closing Date, (B) addressed to
the Administrative Agent and the Lenders on the Closing Date and (C) in form and substance reasonably satisfactory to the
Lenders and covering such other matters relating to the Loan Documents and the Transactions as the Lenders shall reasonably request,
and each of Holdings and the Borrower hereby instructs its counsel to deliver such opinions.

 

(e)        The Lenders and the Administrative Agent shall have received in the case of each Loan Party each of the items referred to
in clauses (i), (ii), (iii) and (iv) below:

 

(i)            a copy of the certificate or articles of incorporation, certificate of limited partnership or certificate of formation,
including all amendments thereto, of each Loan Party, certified as of a recent date by the Secretary of State (or other similar
official) of the jurisdiction of its organization, and a certificate as to the good standing (to the extent such concept or a similar
concept exists under the laws of such jurisdiction) of each such Loan Party as of a recent date from such Secretary of State (or
other similar official);

 

(ii)           a certificate of the secretary or assistant secretary or similar officer of each Loan Party dated the Closing Date and certifying:

 

(A)            that attached thereto is a true and complete copy of the by-laws (or limited partnership agreement, limited liability company
agreement or other equivalent governing documents) of such Loan Party as in effect on the Closing Date,

 

(B)             that attached thereto is a true and complete copy of resolutions duly adopted by the board of directors (or equivalent governing
body) of such Loan Party (or its managing general partner or managing member) authorizing the execution, delivery and performance
of the Loan Documents to which such Person is a party and, in the case of the Borrower, the borrowings hereunder, and that such
resolutions have not been modified, rescinded or amended and are in full force and effect on the Closing Date,

 

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(C)             that the certificate or articles of incorporation, certificate of limited partnership or certificate of formation of such
Loan Party has not been amended since the date of the last amendment thereto disclosed pursuant to clause (i) above,

 

(D)            as to the incumbency and specimen signature of each officer executing any Loan Document or any other document delivered
in connection herewith on behalf of such Loan Party,

 

(E)             as to the absence of any pending proceeding for the dissolution or liquidation of such Loan Party;

 

(iii)          a
certificate of another officer as to the incumbency and specimen signature of the Secretary or Assistant Secretary or similar
officer executing the certificate pursuant to clause (ii) above; and

 

(iv)          a certificate of a Responsible Officer of the Borrower certifying that as of the Closing Date the conditions precedent contained
in clauses (a), (b), and (l) of this Section 4.01 are satisfied.

 

(f)         The Administrative Agent shall have received each Control Agreement required to be provided pursuant to Section 5.12(d).

 

(g)        (i) the Lenders shall have received a duly completed Perfection Certificate dated as of the Closing Date, together with
all attachments contemplated thereby, (ii) the Lenders shall have received the results of a search of the Uniform Commercial
Code (or equivalent) filings made with respect to the Loan Parties and copies of the financing statements (or similar documents)
disclosed by such search and (iii) the Lenders shall have received evidence reasonably satisfactory to the Lenders that the
Liens indicated by such financing statements (or similar documents) are either permitted by Section 6.02 or have been
released (or authorized for release in a manner reasonably satisfactory to the Lenders).

 

(h)        Each document (including any Uniform Commercial Code financing statement) required by the Security Documents or under law
or reasonably requested by the Lenders to be filed, registered or recorded in order to create in favor of the Administrative Agent,
for the benefit of itself, the Lenders and the other Secured Parties, a perfected Lien on the Collateral described therein prior
and superior in right to any other Person (other than with respect to Liens expressly permitted by Section 6.02 to be prior
to the Liens of the Administrative Agent in the applicable Collateral (including Liens on ABL Priority Collateral securing the
ABL Loan Obligations permitted under Section 6.02(b)(iii))), shall have been filed, registered or recorded or immediately
upon the closing of this Agreement will be filed, registered or recorded by Administrative Agent.

 

(i)         On the Closing Date, substantially concurrently with the funding of the Loans, Holdings and its Subsidiaries shall have
paid in full the Existing Debt and caused the termination of any commitments to lend or make other extensions of credit under the
Prepetition Credit Agreement, the DIP ABL Credit Agreement and the DIP RE Credit Agreement.

 

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(j)         The Lenders and the Administrative Agent shall have received a solvency certificate substantially in the form of Exhibit D
and signed by a Responsible Officer of the Parent.

 

(k)        The Lenders and the Administrative Agent shall have received all fees payable thereto on or prior to the Closing Date and,
to the extent invoiced at least 3 Business Days prior to the Closing Date, all other amounts due and payable pursuant to the Loan
Documents on or prior to the Closing Date, including, to the extent invoiced, reimbursement or payment of all reasonable and documented
(in summary format) out-of-pocket expenses (including reasonable and documented (in summary format) fees, charges and disbursements
of Kirkland & Ellis LLP and Holland & Knight LLP) required to be reimbursed or paid by the Loan Parties hereunder or under
any other Loan Document.

 

(l)         Since the Petition Date, there shall not have occurred and there is no circumstance or occurrence that is reasonably likely
to have (individually or in the aggregate) a Material Adverse Effect, excluding the pendency of the Cases.

 

(m)       The Administrative Agent and the Lenders shall have received, at least five (5) days prior to the Closing Date, (i) all
documentation, to include a duly executed IRS Form W-9 or such other applicable IRS Form and other information required by regulatory
authorities under applicable “know your customer” and anti-money laundering rules and regulations, including without
limitation the USA PATRIOT Act and (ii) to the extent the Borrower qualifies as a “legal entity customer” under
the Beneficial Ownership Regulation, at least five (5) days prior to the Closing Date, any Lender that has requested, in a written
notice to the Borrower, a Beneficial Ownership Certification in relation to the Borrower shall have received, and the Administrative
Agent shall have received, such Beneficial Ownership Certification (provided that, upon the execution and delivery by such
Lender of its signature page to this Agreement, the condition set forth in this clause (ii) shall be deemed to be satisfied).

 

(n)        [Reserved].

 

(o)        The terms of (i) the Plan of Reorganization and (ii) all orders of the Bankruptcy Court approving the Plan of Reorganization,
the credit facility provided under this Agreement, or affecting the rights, remedies and obligations of the Administrative Agent
and the Lenders hereunder and thereunder, shall be in form and substance acceptable to the Lenders and the Administrative Agent
in all material respects.

 

(p)        The Confirmation Order shall have been entered upon proper notice to all parties to be bound by the Plan of Reorganization,
all as may be required by the Bankruptcy Code, the Federal Rules of Bankruptcy Procedure, order of the Bankruptcy Court, and any
applicable local bankruptcy rules. Moreover, (i) unless otherwise waived by the Lenders, no appeal or petition for review, rehearing
or certiorari with respect to the Confirmation Order may be pending and (ii) the Confirmation Order must otherwise be in full force
and effect. The effective date of the Plan of Reorganization shall have occurred on or prior to the Closing Date.

 

(q)        The Bankruptcy Court shall have entered an order, in form and substance acceptable to the Required Lenders, approving the
Commitment Letter.

 

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(r)         The Administrative Agent shall have received evidence of insurance coverage in form, scope, and substance reasonably satisfactory
to the Required Lenders and otherwise in compliance with the terms of Section 5.02 hereof.

 

(s)        [Reserved].

 

(t)         All legal (including tax) and regulatory matters shall be satisfactory to the Lenders, including compliance with all applicable
requirements of Regulation T, Regulation U and Regulation X of the Board, and the Lenders’ counsel shall have completed all
legal due diligence.

 

(u)        The corporate structure, capital structure and other debt instruments, material accounts and governing documents of the
Loan Parties shall be acceptable to the Lenders in their sole discretion.

 

(v)        The Lenders shall have received evidence that all consents and approvals, if any, required to be obtained from any Governmental
Authority or other Person in connection with the Transactions (including member and shareholder approvals) have been obtained and
are in full force and effect.

 

(w)       The Lenders and the Administrative Agent shall have received executed copies of the ABL Credit Agreement and all material
ABL Loan Documents, each of which shall be in form and substance satisfactory to the Lenders in all respects.

 

(x)        The Administrative Agent and the Lenders shall have received a copy of the Intercreditor Agreement executed by the ABL Administrative
Agent and the Loan Parties and which shall be in form and substance satisfactory to Administrative Agent (acting at the direction
of the Required Lenders) in all respects.

 

Each Lender, by delivering
its signature page to this Agreement shall be deemed to have acknowledged receipt of and consented to and approved each Loan Document
and each other document required to be approved by any Lender, as applicable, on the Closing Date.

 

ARTICLE V

Affirmative Covenants

 

Each of Holdings (solely
as to Sections 5.01, 5.05 and 5.09 as applicable to it) and the Borrower covenants and agrees with the
Administrative Agent and each Lender that until all of the Secured Obligations (including any Prepayment Premium, if owed) have
been Paid in Full, unless the Required Lenders shall otherwise consent in writing, the Borrower (and Holdings solely to the extent
applicable to it) will, and the Borrower will cause each of the Subsidiaries to:

 

Section 5.01       
Existence; Businesses and Properties.

 

(a)        Do or cause to be done all things necessary to preserve, renew and keep in full force and effect its legal existence, except
(i) where the failure to do so would not reasonably be expected to have a Material Adverse Effect and (ii) as otherwise
expressly permitted under Section 6.05.

 

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(b)        Except where the failure to do so would not reasonably be expected to have a Material Adverse Effect, do or cause to be
done all things necessary to (i) lawfully obtain, preserve, renew, extend and keep in full force and effect the permits, franchises,
authorizations, patents, trademarks, service marks, trade names, copyrights, licenses and rights with respect thereto reasonably
necessary to the normal conduct of the business of the Borrower and the Subsidiaries and (ii) at all times maintain and preserve
all property reasonably necessary to the normal conduct of the business of the Borrower and the Subsidiaries and keep such property
in satisfactory repair, working order and condition and from time to time make, or cause to be made, all needful and proper repairs,
renewals, additions, improvements and replacements thereto in accordance with prudent industry practice (in each case except as
expressly permitted by this Agreement).

 

Section 5.02       
Insurance.

 

(a)        Maintain,
with financially sound and reputable insurance companies having a financial strength rating of at least “A-” from A.M.
Best & Co., insurance in such amounts and against such risks and such other hazards as are customarily maintained by similarly
situated companies engaged in the same or similar businesses operating in the same or similar locations. Each such policy of insurance
shall (i) name the Administrative Agent, on behalf of Secured Parties as an additional insured thereunder as its interests
may appear, to the extent customary for such type of insurance and (ii) in the case of each casualty insurance policy and
marine cargo insurance policy, contain a lender’s loss payable clause and endorsement or such other customary endorsement,
reasonably satisfactory in form and substance to the Administrative Agent, that names the Administrative Agent, on behalf of Lenders
as the loss payee and mortgagee, if applicable, thereunder and to the extent available provides for at least thirty (30) days’
prior written notice to the Administrative Agent of any cancellation of such policy.

 

(b)        If
any improved real property is included in the Collateral and the area in which the Premises (as defined in the Mortgages) are located
is designated a special “flood hazard area” in any Flood Insurance Rate Map published by the Federal Emergency Management
Agency (or any successor agency), obtain flood insurance from such providers, in an amount and otherwise sufficient to comply with
all applicable rules and regulations promulgated pursuant to the Flood Insurance Laws and deliver to the Administrative Agent evidence
of such compliance in form and substance reasonably satisfactory to the Required Lenders.

 

Section 5.03       Taxes.
Except where the failure to do so could not reasonably be expected to have a Material Adverse Effect, pay and discharge
promptly when due all material Taxes, imposed upon it or upon its income or profits or in respect of its property, as well as
all lawful claims which, if unpaid, might give rise to a Lien (other than a Lien permitted under Section 6.02) upon
such properties or any part thereof except to the extent not overdue by more than thirty (30) days or, if more than thirty
(30) days overdue (a) the validity or amount thereof shall be contested in good faith by appropriate proceedings, and
the Borrower or the affected Subsidiary, as applicable, shall have set aside on its books adequate reserves in accordance with
GAAP with respect thereto and (b) in the case of a Tax or claim which has or may become a Lien on any of the Collateral,
such contest proceedings conclusively operate to stay the sale of any portion of the Collateral to satisfy such Tax or claim;
provided, however, that each Loan Party will, and will cause each Subsidiary to, remit withholding taxes and other
payroll taxes to appropriate Governmental Authorities as and when claimed to be due, notwithstanding the foregoing exceptions.

 

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Section 5.04       
Financial Statements, Reports, etc. Furnish to the Administrative Agent (which will
promptly furnish such information to the Lenders):

 

(a)        within ninety (90) days after the end of each fiscal year (commencing with fiscal year 2021), a consolidated balance
sheet and related statements of operations, cash flows and owners’ equity showing the financial position of Holdings and
its Subsidiaries as of the close of such fiscal year and the consolidated results of its operations during such year and setting
forth in comparative form the corresponding figures for the prior fiscal year, which consolidated balance sheet and related statements
of operations, cash flows and owners’ equity shall be accompanied by customary management’s discussion and analysis
and audited by independent public accountants of recognized national standing and accompanied by an opinion of such accountants
(which opinion shall be without a “going concern” or like qualification, other than solely with respect to an upcoming
maturity date of Indebtedness or a potential inability to satisfy a financial covenant, or exception and without any qualification
or exception as to the scope of such audit) to the effect that such consolidated financial statements fairly present, in all material
respects, the financial condition and results of operations of Holdings and its Subsidiaries on a consolidated basis in accordance
with GAAP, supporting schedules reconciling such consolidated balance sheet and related statements of operations and cash flows
with the consolidated financial condition and results of operations of Holdings or the Borrower, as applicable, for the relevant
period (it being understood that the delivery by the Borrower of annual reports on Form 10-K of Holdings and its consolidated
Subsidiaries shall satisfy the requirements of this Section 5.04(a) to the extent such annual reports include the information
specified herein);

 

(b)        within forty-five (45) days after the end of each of the first three fiscal quarters of each fiscal year (commencing
with the first full fiscal quarter ending after the occurrence of the Spring-Out Date), a consolidated balance sheet and related
statements of operations and cash flows showing the financial position of Holdings and its Subsidiaries as of the close of such
fiscal quarter and the consolidated results of its operations during such fiscal quarter and the then-elapsed portion of the fiscal
year and setting forth in comparative form the corresponding figures for the corresponding periods of the prior fiscal year, all
of which shall be in reasonable detail and which consolidated balance sheet and related statements of operations and cash flows
shall be accompanied by customary management’s discussion and analysis and certified by a Financial Officer of the Borrower
on behalf of the Borrower as fairly presenting, in all material respects, the financial position and results of operations of Holdings
and its Subsidiaries on a consolidated basis in accordance with GAAP (subject to normal year-end audit adjustments and the absence
of footnotes), supporting schedules reconciling such consolidated balance sheet and related statements of operations and cash flows
with the consolidated financial position and results of operations of Holdings or the Borrower, as applicable, for the relevant
period (it being understood that the delivery by the Borrower of quarterly reports on Form 10-Q of Holdings and its consolidated
Subsidiaries shall satisfy the requirements of this Section 5.04(b) to the extent such quarterly reports include the
information specified herein);

 

    57 

     

    

 

(c)        at all times prior to the end of the first full fiscal quarter ending after the occurrence of the Spring-Out Date and at
any time thereafter if a Cash Dominion Trigger Period is in effect, within thirty (30) days after the end of each month (or
after the Spring-Out Date, for each of the first two (2) months of each fiscal quarter), a balance sheet and related statements
of operations and cash flows showing the financial position of Holdings and its Subsidiaries as of the close of such month and
the consolidated results of its operations during such month, all of which shall be in reasonable detail and certified by a Financial
Officer of the Borrower on behalf of the Borrower as fairly presenting, in all material respects, the financial position and results
of operations of Holdings and its Subsidiaries on a consolidated basis in accordance with GAAP (subject to normal year-end audit
adjustments and the absence of footnotes);

 

(d)        (i) concurrently with any delivery of financial statements under paragraphs (a) or (b) above,
a certificate of a Financial Officer of the Borrower in substantially the form attached hereto as Exhibit E (x) certifying
that no Default or Event of Default has occurred or, if such a Default or an Event of Default has occurred, specifying the nature
and extent thereof and any corrective action taken or proposed to be taken with respect thereto, and (y) setting forth the
reasonably detailed calculations with respect to the Consolidated Fixed Charge Coverage Ratio (as defined in the ABL Credit Agreement)
for such period, whether or not the requirements of Section 6.10 of the ABL Credit Agreement are then in effect;

 

(e)        (i) promptly after the same become publicly available, copies of all periodic and other publicly available reports,
proxy statements and other materials filed by Holdings, the Borrower or any of its Subsidiaries with the SEC or any securities
exchange, or distributed to its stockholders generally, as applicable and all press releases and other statements made available
generally by Holdings or any of its Subsidiaries to the public concerning material developments in the business of Holdings or
any of its Subsidiaries and (ii) so long as ABL Loan Obligations are outstanding, on Thursday of each week, weekly reports
and forecasts of cash flows in form and substance reasonably satisfactory to the Required Lenders (it being understood and agreed
that the form of weekly reports and forecasts of cash flows delivered to the Lenders prior to the Closing Date are reasonably satisfactory);
provided, that the Borrower shall only be required to provide the deliverables set forth in this clause (ii) to the extent the
outstanding balance of Revolver Loans has been greater than $0 for three (3) consecutive days;

 

(f)         together with each delivery under Section 5.04(a), a detailed consolidated and consolidated quarterly budget
for such fiscal year (including a projected consolidated and consolidated balance sheet of the Borrower and its Subsidiaries as
of the end of such fiscal year, and the related consolidated and consolidated statements of projected cash flow and projected income)
and, as soon as available, significant revisions, if any, of such budget and quarterly projections with respect to such fiscal
year (to the extent that such revisions have been approved by the Borrower’s board of directors (or equivalent governing
body)), including a description of underlying assumptions with respect thereto (collectively, the “Budget”),
which Budget shall in each case be accompanied by the statement of a Financial Officer of the Borrower to the effect that, to such
Financial Officer’s knowledge, the Budget is a reasonable estimate for the period covered thereby;

 

(g)        promptly following a request therefor, all documentation and other information that the Administrative Agent reasonably
requests on its behalf or on behalf of any Lender in order to comply with its ongoing obligations under applicable “know
your customer” and anti-money laundering rules and regulations, including the USA PATRIOT Act;

 

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(h)        together with the delivery of the annual compliance certificate required by Section 5.04(d), deliver an updated
Perfection Certificate reflecting all changes since the date of the information most recently received pursuant to this paragraph (h)
or Section 5.09(e);

 

(i)         promptly
following reasonable request therefore from the Administrative Agent (for itself or on behalf of any Lender), copies of (i) any
documents described in Sections 101(f) and/or (j) of ERISA with respect to any Plan, and/or (ii) any notices or documents
described in Sections 101(f), (k) and/or (l) of ERISA requested with respect to any Multiemployer Plan; provided,
that if any Loan Party or any ERISA Affiliate has not requested such documents or notices from the administrator or sponsor of
the applicable Plan or Multiemployer Plan, then, upon reasonable request of the Administrative Agent (for itself or on behalf
of any Lender), the Loan Party(ies) and/or the ERISA Affiliate(s) shall promptly make a request for such documents or notices
from such administrator or sponsor and the Borrower shall provide copies of such documents and notices to the Administrative Agent
promptly after receipt thereof;

 

(j)         promptly, from time to time, such other information regarding the operations, business affairs and financial condition of
Holdings, the Borrower or any of its Subsidiaries, or compliance with the terms of any Loan Document, as in each case the Administrative
Agent (for itself or on behalf of any Lender) may reasonably request;

 

(k)        promptly, but in any event within three (3) Business Days after the furnishing, receipt or execution thereof, copies of
(i) any amendment, waiver, consent or other written modification of the ABL Credit Agreement or any material amendment, waiver,
consent or other written modification of any other ABL Loan Document, (ii) any notice of default or event of default or any notice
related to the exercise of remedies under the ABL Loan Documents, and (iii) any other material notice, certificate or other information
or document provided to, or received from, the ABL Administrative Agent or the ABL Secured Parties (in their capacities as such),
including, without limitation, copies of all Borrowing Base Certificates (as defined in the ABL Credit Agreement) and other financial
and collateral reporting provided under the ABL Credit Agreement;

 

(l)         promptly, but in any event within five (5) Business Days after the furnishing, receipt or execution thereof, copies of (i)
any termination, material amendment or other material written modification of any Material Agreement or any Material Indebtedness
(other than the ABL Loan Obligations), and (ii) any notice of default or any notice related to the exercise of remedies with respect
to any Material Indebtedness (other than the ABL Loan Obligations); and

 

(m)       documents required to be delivered pursuant to this Section 5.04 may be delivered electronically and if so delivered,
shall be deemed to have been delivered on the date (i) on which Holdings or the Borrower (or a representative thereof) posts
such documents (or provides a link thereto) at www.tuesdaymorning.com; provided that, other than with respect to items required
to be delivered pursuant to Section 5.04(e) above, Holdings or the Borrower shall promptly notify (which notice may
be by facsimile or electronic mail) the Administrative Agent of the posting of any such documents at www.tuesdaymorning.com and
provide to the Administrative Agent by electronic mail electronic versions (i.e., soft copies) of such documents; (ii) on
which such documents are delivered by Holdings or the Borrower to the Administrative Agent for posting on behalf of Holdings and
the Borrower on IntraLinks, SyndTrak or another relevant secure website, if any, to which each Lender and the Administrative Agent
have access (whether a commercial, third-party website or whether sponsored by the Administrative Agent); (iii) on which such
documents are faxed to the Administrative Agent (or electronically mailed to an address provided by the Administrative Agent);
or (iv) with respect to any item required to be delivered pursuant to Section 5.04(e) above in respect of information
filed by Holdings or its applicable Parent Entity with any securities exchange or with the SEC or any analogous Governmental Authority
or private regulatory authority with jurisdiction over matters relating to securities (other than Form 10-Q reports and Form 10-K
reports), on which such items have been made available on the SEC website or the website of the relevant analogous governmental
or private regulatory authority.

 

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Section 5.05       
Notices of Material Events. Furnish to the Administrative Agent written notice of
the following promptly after any Responsible Officer of Holdings or the Borrower obtains actual knowledge thereof:

 

(a)        any Default or Event of Default, specifying the nature and extent thereof and the corrective action (if any) proposed to
be taken with respect thereto;

 

(b)        any action, suit or proceeding, whether at law or in equity or by or before any Governmental Authority or in arbitration,
against Holdings, the Borrower or any of their Subsidiaries would reasonably be expected to have a Material Adverse Effect;

 

(c)        the occurrence of any ERISA Event or Foreign Plan Event that, individually or together with all other ERISA Events or Foreign
Plan Events that have occurred, would reasonably be expected to have a Material Adverse Effect;

 

(d)        the filing of any Lien for unpaid taxes in excess of $1,000,000;

 

(e)        any change in the Borrower’s chief executive officer or chief financial officer;

 

(f)         any discharge, resignation or withdrawal of the registered public accounting firm (provided that filing an applicable 8-K
with the SEC shall satisfy any notice requirements under clause (e) above or this clause (f));

 

(g)        any Casualty Event, any Casualty Event (as defined in the ABL Credit Agreement) or the commencement of any action or proceeding
that could reasonably be expected to result in a Casualty Event or any Casualty Event (as defined in the ABL Credit Agreement),
in each case involving assets with a fair market or book value in excess of $1,000,000;

 

(h)        any change in the information provided in the Beneficial Ownership Certification, if any, delivered to such Lender that
would result in a change to the list of beneficial owners identified in such certification; and

 

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(i)          any other development specific to Holdings, the Borrower or any of their Subsidiaries that is not a matter of general public
knowledge and that has had, or would reasonably be expected to have, a Material Adverse Effect.

 

Each notice delivered
under this Section 5.05 (i) shall be in writing and (ii) shall be accompanied by a statement of a Responsible Officer of
the Borrower setting forth the details of the event or development requiring such notice and (if applicable) any action taken or
proposed to be taken with respect thereto.

 

Section 5.06       
Compliance with Laws. (a) Comply with all laws, rules, regulations and orders
of any Governmental Authority applicable to it or its property, except where the failure to do so, individually or in the aggregate,
could not reasonably be expected to result in a Material Adverse Effect; provided that this Section 5.06 shall
not apply to Environmental Laws, which are the subject of Section 5.08, or to laws related to Taxes, which are the
subject of Section 5.03, (b) maintain in effect and enforce policies and procedures designed to ensure compliance
by the Borrower, its Subsidiaries and their respective directors, officers, employees and agents with Anti-Corruption Laws and
applicable Sanctions and (c) comply with all applicable reporting requirements of the SEC.

 

Section 5.07       
Maintaining Records; Access to Properties and Inspections.

 

(a)         Maintain all financial records in a manner sufficient to permit the preparation of consolidated financial statements in
accordance with GAAP.

 

(b)         Permit the Administrative Agent, subject (except when an Event of Default exists) to reasonable advance notice to, and reasonable
coordination with, the Borrower and normal business hours, to visit and inspect the properties of the Borrower, at the Borrower’s
expense as provided in clause (c) below, inspect, audit and make extracts from the Borrower’s corporate, financial
or operating records, and discuss with its officers, employees, agents, advisors and independent accountants (subject to such accountants’
customary policies and procedures) the Borrower business, financial condition, assets and results of operations (it being understood
that a representative of the Borrower is allowed to be present in any discussions with officers, employees, agent, advisors and
independent accountants). No such inspection or visit shall unduly interfere with the business or operations of the Borrower, nor
result in any damage to the Property or other Collateral. Neither the Administrative Agent nor any Lender shall have any duty to
the Borrower to make any inspection, nor to share any results of any inspection, appraisal or report with the Borrower. The Borrower
acknowledges that all inspections, appraisals and reports are prepared by the Administrative Agent and Lenders for their purposes,
and the Borrower shall not be entitled to rely upon them.

 

(c)         Reimburse the Administrative Agent for all reasonable and documented out-of-pocket costs and expenses (other than legal
fees or costs and expenses which are covered under Section 9.05) of the Administrative Agent in connection with examinations
of the Borrower’s books and records or any other financial or Collateral matters as the Administrative Agent (acting at the
direction of the Required Lenders) deems appropriate subject to the limitations on such examinations, audits and appraisals permitted
under the preceding paragraph. This Section shall not be construed to limit the Administrative Agent’s right to use third
parties for such purposes.

 

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Section 5.08       
Compliance with Environmental Laws.

 

(a)         Comply, and make reasonable efforts to cause all lessees and other Persons occupying its properties to comply, with all
Environmental Laws applicable to its operations and properties; and obtain and renew all authorizations and permits required pursuant
to Environmental Law for its operations and properties, in each case in accordance with Environmental Laws. This clause (a)
shall be deemed not breached by a noncompliance with the foregoing if, upon learning of such noncompliance, the Borrower and any
of its affected Subsidiaries promptly undertake reasonable efforts to eliminate such noncompliance, and such noncompliance and
the elimination thereof, in the aggregate with any other noncompliance with any of the foregoing and the elimination thereof, could
not reasonably be expected to have a Material Adverse Effect.

 

(b)         Except as could not reasonably be expected to have a Material Adverse Effect, generate, use, treat, store, release, dispose
of, and otherwise manage Hazardous Materials in a manner that would not reasonably be expected to result in a material liability
to the Borrower or any of the Subsidiaries or to materially affect any Real Property; and take reasonable efforts to prevent any
other Person from generating, using, treating, storing, releasing, disposing of, or otherwise managing Hazardous Materials in a
manner that could reasonably be expected to result in a material liability to, or materially affect any Real Property.

 

Section 5.09       
Further Assurances; Additional Guarantors; Mortgages.

 

(a)         Without limiting anything contained in this Section 5.09, each Loan Party will, and will cause each Subsidiary to,
execute and deliver, or cause to be executed and delivered, to the Administrative Agent such documents, financing statements, agreements
and instruments, and will take or cause to be taken such further actions (including the filing and recording of financing statements,
fixture filings, Mortgages and other documents and recordings of Liens in stock registries), that may be required under any Applicable
Law, or that the Administrative Agent (at the direction of the Required Lenders) may, from time to time, reasonably request to
carry out the terms and conditions of this Agreement and the other Loan Documents and to ensure the perfection and priority of
the Liens created or intended to be created by the Security Documents, all at the expense of the Loan Parties.

 

(b)         If any asset (other than real property or improvements thereto or any interest therein) that has an individual fair market
value in an amount greater than $1.0 million (as reasonably estimated by the Borrower) is acquired by Holdings, the Borrower
or any Subsidiary Guarantor after the Closing Date or owned by an entity at the time it becomes a Subsidiary Guarantor (including,
without limitation, as the result of a Division) (in each case other than assets constituting Collateral under a Security Document
that become subject to a perfected Lien in favor of the Administrative Agent under such Security Document upon acquisition thereof
or any Excluded Asset), cause such asset to be subjected to a perfected Lien securing the Obligations and take, and cause the applicable
Loan Party to take, such actions as shall be necessary or reasonably requested by the Administrative Agent (at the direction of
the Required Lenders) to grant and perfect such Liens, including actions described in paragraph (a) of this Section,
all at the expense of the Loan Parties, subject to paragraph (f) below.

 

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(c)         Within sixty (60) days (or such later date as the Administrative Agent (acting at the direction of the Required Lenders)
may agree) following the the acquisition of Mortgageable Real Property, grant and cause each of the Subsidiary Guarantors to grant
to the Administrative Agent security interests and mortgages in the Mortgageable Real Property of the Borrower or any such Subsidiary
Guarantors specified in such request pursuant to Mortgages reasonably satisfactory to the Required Lenders and constituting valid
and enforceable Liens subject to no other Liens except as are permitted by Section 6.02. With respect to each such
Mortgage, the Borrower shall deliver (at its expense) to the Administrative Agent contemporaneously therewith all Real Property
Documents requested by the Administrative Agent pursuant to the terms of this Agreement, other than those Real Property Documents
which are to be obtained (at the Borrower’s expense) by the Administrative Agent.

 

(d)         If (i) any additional Subsidiary (other than an Excluded Subsidiary) is formed or acquired after the Closing Date (including,
without limitation, as the result of a Division) or (ii) any Excluded Subsidiary ceases to be an Excluded Subsidiary pursuant
to the definition thereof, concurrently with the formation or acquisition thereof or of such Subsidiary ceasing to be an Excluded
Subsidiary, notify the Administrative Agent and the Lenders in writing thereof and, within ten (10) Business Days after such
date or such longer period as the Administrative Agent (acting at the direction of the Required Lenders) shall agree, cause such
Subsidiary to become a Subsidiary Guarantor by delivering a supplement to the Collateral Agreement, in the form specified therein,
duly executed on behalf of such Subsidiary. Upon execution and delivery thereof, each such Person (x) shall automatically become
a Subsidiary Guarantor under the Loan Documents and thereupon shall have all of the rights, benefits, duties, and obligations in
such capacity under the Loan Documents and (y) will grant Liens to the Administrative Agent, for the benefit of the Administrative
Agent and the other Secured Parties, in any property of such Loan Party which constitutes Collateral. In connection therewith,
the Administrative Agent shall have received all documentation and other information regarding such newly formed or acquired Subsidiary
as may be required to comply with the applicable “know your customer” rules and regulations, including the USA Patriot
Act.

 

(e)         (i) Furnish to the Administrative Agent promptly (and in any event within five (5) Business Days or such later
date as the Administrative Agent (acting at the direction of the Required Lenders) may agree) written notice of any change in (A) any
Loan Party’s corporate or organization name, (B) any Loan Party’s organizational form or (C) any Loan Party’s
organizational identification number; provided that neither Holdings nor the Borrower shall effect or permit any such change
unless all filings have been made, or will have been made within any applicable statutory period, under the Uniform Commercial
Code or otherwise that are required in order for the Administrative Agent to continue at all times following such change to have
a valid, legal and perfected security interest in all the Collateral for the benefit of the Secured Parties and (ii) promptly
notify the Administrative Agent in writing if any material portion of the Collateral is damaged or destroyed.

 

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(f)          To the extent any improved real property is to be included in the Collateral, each Loan Party will, and will cause each
Subsidiary to, execute and/or deliver, as applicable, such other documents as the Administrative Agent may reasonably request on
behalf of any Lender that is a regulated financial institution or any Affiliate of such a Lender (each, a “Regulated Lender
Entity”), in each case, to the extent such other documents are required for compliance by such Regulated Lender Entity
with Applicable Law with respect to flood insurance diligence, documentation and coverage under all applicable Flood Insurance
Laws. Prior to signing by the Loan Parties of any mortgage or deed of trust to secure the Secured Obligations, the applicable Loan
Parties and the Administrative Agent shall have provided each Regulated Lender Entity requesting the same a copy of the life of
loan flood zone determination relative to the property to be subject to such mortgage or deed of trust delivered to the Administrative
Agent and copies of the other documents required by any such Regulated Lender Entity as provided in the preceding sentence and
the Administrative Agent shall have received confirmation from each Regulated Lender Entity that flood insurance due diligence
and flood insurance compliance has been satisfactorily completed by such Regulated Lender Entity (such confirmation not to be unreasonably
withheld, conditioned or delayed, and shall be delivered promptly upon such completion by the applicable Regulated Lender Entity).

 

(g)         At any time that any improved real property constitutes Collateral, no modification of a Loan Document shall extend the
Maturity Date as to any Regulated Lender Entity hereunder until the Administrative Agent shall have received confirmation from
each such Regulated Lender Entity that flood insurance due diligence and flood insurance compliance has been satisfactorily completed
by such Regulated Lender Entity (such confirmation not to be unreasonably withheld, conditioned or delayed, and shall be delivered
promptly upon such completion by the applicable Regulated Lender Entity).

 

(h)         The provisions of this Section 5.09 with respect to the granting and perfection of security interests need not
be satisfied with respect to (i) leasehold real property, (ii) Equity Interests of any Joint Ventures which cannot be
pledged without the consent of one (1) or more third parties that is not an Affiliate of a Loan Party, (iii) Margin Stock,
(iv) security interests to the extent the same would result in adverse tax consequences as reasonably determined by the Borrower
and agreed to by the Administrative Agent (acting at the direction of the Required Lenders), (v) any property and assets the
pledge of which would require governmental consent, approval, license or authorization (in each case, after giving effect to the
applicable anti-assignment provisions of the Uniform Commercial Code or other Applicable Law), (vi) the General Unsecured Cash
Fund so long as it is maintained in accordance with the Plan of Reorganization and (vii) all foreign intellectual property
and any “intent-to-use” trademark applications prior to the filing of a “Statement of Use” or “Amendment
to Allege Use” with respect thereto, to the extent, if any, that, and solely during the period, if any, in which, the grant
of a security interest therein would impair the validity or enforceability of such intent-to-use trademark application under applicable
federal law (collectively, “Excluded Assets”). Notwithstanding anything to the contrary herein, (x) the Loan
Parties shall not be required to grant a security interest in any Collateral or perfect a security interest in (A) any Collateral
to the extent the burden or cost of obtaining or perfecting a security interest therein outweighs the benefit of the security afforded
thereby as reasonably determined by the Borrower and the Administrative Agent (acting at the direction of the Required Lenders)
or (B) in any contract, license or permit, if the granting of a security interest in such asset would be prohibited by enforceable
anti-assignment provisions of contracts or Applicable Law or a pledge would violate the terms of any contract with respect to such
assets (in each case, after giving effect to the applicable anti-assignment provisions of the Uniform Commercial Code or other
Applicable Law) or would trigger termination pursuant to any “change of control” or similar provision in any contract
and (y) the Administrative Agent’s Lien in the following Collateral shall not be required to be perfected (A) motor
vehicles and any other assets subject to state law certificate of title statutes, (B) commercial tort claims with an individual
value not in excess of $1,000,000, (C) letter of credit rights to the extent not perfected by the filing of a financing statement
under the Uniform Commercial Code and (D) Excluded Deposit Accounts.

 

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Section 5.10       
Fiscal Year; Accounting. In the case of Holdings and the Borrower, (i) cause
its fiscal year to end on June 30 and (ii) prohibit any change to the accounting policies or reporting practices of the
Loan Parties, except in accordance with GAAP.

 

Section 5.11       
Casualty Events. Unless applied to prepay the Loans and other Obligations in accordance
with Section 2.11, the Borrower and its Subsidiaries shall cause the Net Cash Proceeds of any Casualty Event to be reinvested or
redeployed in their respective businesses within the Reinvestment Period by replacing properties or assets that are the subject
of such Casualty Event in the ordinary course of business of Borrower and its Subsidiaries.

 

Section 5.12       
Collateral Monitoring and Reporting.

 

(a)         [Reserved].

 

(b)         [Reserved].

 

(c)         [Reserved].

 

(d)         Administration of Deposit Accounts; Control Agreements.

 

(i)                Schedule 5.12
sets forth all Deposit Accounts (including Excluded Deposit Accounts), securities accounts and commodities accounts maintained
by the Loan Parties, including all Collateral Deposit Accounts, as of the Closing Date. Each Loan Party shall be the sole account
holder of each Deposit Account (other than Excluded Deposit Accounts) and shall not allow any other Person (other than the ABL
Administrative Agent and the Administrative Agent (which shall have a first priority interest in only those Deposit Accounts that
are exclusively maintained for and contain only the identifiable proceeds of the Term Loan Priority Collateral)) to have control
over a Deposit Account (other than Excluded Deposit Accounts) or any deposits therein. The Borrower (A) shall promptly notify
the Administrative Agent of (x) any opening or closing of a Deposit Account (other than any Excluded Deposit Account) and (y)
any Excluded Deposit Account ceasing to constitute an Excluded Deposit Account and (B) shall not open any Deposit Accounts (other
than any Excluded Deposit Accounts) at a Bank not reasonably acceptable to the Administrative Agent.

 

(ii)               On or before the Closing Date, (i) each Loan Party shall execute and deliver to the Administrative Agent Control Agreements
for each Deposit Account (including the Term Loan Priority Collateral Account) maintained by such Loan Party (other than Excluded
Deposit Accounts) and (ii) the Borrower shall establish the General Unsecured Cash Fund Deposit Account. After the Closing Date,
each Loan Party shall comply with the terms of this Section 5.12(d).

 

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(iii)              Before opening or replacing any Deposit Account (other than Excluded Deposit Accounts), each Loan Party shall cause each
bank or financial institution in which it seeks to open another such Deposit Account, to enter into a Control Agreement with the
Administrative Agent in order to, subject to the Intercreditor Agreement, give the Administrative Agent Control of such Deposit
Account.

 

(iv)              The Borrower and its Subsidiaries shall cause all proceeds of Term Loan Priority Collateral to be remitted to a Deposit
Account subject to a Control Agreement; provided that if such proceeds are received in connection with a Casualty Event
or at any time an Event of Default has occurred and is continuing, such proceeds shall be remitted to the Term Loan Priority Collateral
Account pending the application thereof to the Secured Obligations in accordance with the terms of this Agreement and the Intercreditor
Agreement.

 

(v)               Each Loan Party will provide (or with respect to securities accounts and commodities accounts existing on the Closing Date,
will have provided) to the Administrative Agent a Control Agreement for each securities account and commodities account of such
Loan Party promptly after the establishment or acquisition of any such account and prior to transferring or depositing any funds
or other assets therein, duly executed on behalf of each financial institution or securities intermediary holding a securities
account or commodities account, as applicable, of such Loan Party.

 

(vi)              For the avoidance of doubt, nothing set forth in the Loan Documents shall prohibit (A) the establishment of the General
Unsecured Cash Fund and General Unsecured Cash Fund Deposit Account, (B) repayment of amounts for the benefit of the holders of
Allowed General Unsecured Claims from the General Unsecured Cash Fund in accordance with the Plan of Reorganization or (C) the
deposit of proceeds received by any Loan Party from the Plan Sale Leaseback and Rights Offerings into the General Unsecured Cash
Fund Deposit Account in accordance with the Plan of Reorganization.

 

Section 5.13       
Use of Proceeds. The Borrower will use the proceeds of the Loans (a) to pay
fees, interest, payments (including funding a portion of the General Unsecured Cash Fund in accordance with the terms of the Plan
of Reorganization) and expenses associated with the consummation of the Plan of Reorganization,
and (b) to refinance the payments to be made to unsecured creditors and other claimants on the effective date of the Plan of Reorganization.

 

ARTICLE VI

 

Negative
Covenants

 

Each of Holdings (solely
as to Section 6.08(a)) and the other Loan Parties covenants and agrees with the Administrative Agent and each Lender
that until the Secured Obligations (including any Prepayment Premium, if owed) are Paid in Full, unless the Required Lenders shall
otherwise consent in writing, the Loan Parties will not and will not permit any of their Subsidiaries to (and Holdings as to Section 6.08(a),
will not):

 

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Section 6.01       
Indebtedness. Incur, create, assume or permit to exist any Indebtedness, except:

 

(a)         Indebtedness of any Loan Party under the Loan Documents;

 

(b)         Indebtedness pursuant to Swap Agreements not incurred for speculative purposes;

 

(c)         Indebtedness owed to (including obligations in respect of letters of credit or bank guarantees or similar instruments for
the benefit of) any Person providing workers’ compensation, securing unemployment insurance and other social security laws
or regulation, health, disability or other employee benefits or property, casualty or liability insurance or self-insurance or
other similar obligations to the Borrower or any Subsidiary;

 

(d)         Indebtedness of the Borrower owed to any Subsidiary and of any Subsidiary owed to the Borrower or any other Subsidiary,
provided that (i) Indebtedness of any Subsidiary that is not a Subsidiary Guarantor owed to the Loan Parties is permitted
under Section 6.04(b) and (ii) Indebtedness of the Borrower and of any other Loan Party owed to any Subsidiary
that is not a Subsidiary Guarantor (“Subordinated Intercompany Debt”) shall be subordinated to the Obligations
on terms reasonably satisfactory to the Administrative Agent (acting at the direction of the Required Lenders);

 

(e)         Indebtedness in respect of bids, trade contracts (other than for debt for borrowed money), leases (other than Capital Lease
Obligations), statutory obligations, surety, stay, customs and appeal bonds, performance, performance and completion and return
of money bonds, government contracts, financial assurances and completion guarantees and similar obligations, in each case provided
in the ordinary course of business, including those incurred to secure health, safety and environmental obligations in the ordinary
course of business (including Indebtedness in respect of letters of credit, bank guarantees or similar instruments in lieu of such
items to support the issuance thereof);

 

(f)          Indebtedness in respect of netting services, overdraft protection and similar arrangements incurred in the ordinary course
of business in connection with cash management and deposit accounts;

 

(g)         (x) Indebtedness assumed or acquired in connection with Permitted Business Acquisitions, which Indebtedness may be
secured only by the assets acquired in connection with such Permitted Business Acquisitions or unsecured, and provided that
(A) such Indebtedness exists at the time of such Permitted Business Acquisition and is not incurred in contemplation of such
event and (B)  any such Indebtedness does not exceed $5.0 million in the aggregate at any time outstanding and (y) any
Permitted Refinancing Indebtedness incurred to Refinance such Indebtedness; provided that in the case of clauses (x)
and (y) if such Indebtedness is incurred by the Borrower or any Loan Party and secured with Term Loan Priority Collateral,
such Indebtedness shall be secured only by a Junior Lien with respect to the Term Loan Priority Collateral pursuant to an intercreditor
agreement satisfactory to the Administrative Agent (acting at the direction of the Required Lenders);

 

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(h)         Capital Lease Obligations, mortgage financings and purchase money Indebtedness (including any industrial revenue bond, industrial
development bond and similar financings and excluding the Plan Sale Leaseback) incurred by the Borrower or any Subsidiary prior
to or within two hundred seventy (270) days after the acquisition, lease, repair or improvement of the respective asset in
order to finance such acquisition, lease, repair or improvement, and any Permitted Refinancing Indebtedness in respect thereof,
in an aggregate outstanding principal amount (together with Indebtedness outstanding pursuant to paragraph (i) of this
Section 6.01) not to exceed $15.0 million at any one time outstanding;

 

(i)          Capital Lease Obligations incurred by the Borrower or any Subsidiary in respect of any Sale and Lease-Back Transaction that
is permitted under Section 6.03 and any Permitted Refinancing Indebtedness in respect thereof in an aggregate outstanding
principal amount (together with Indebtedness outstanding pursuant to paragraph (h) of this Section 6.01)
not to exceed $15.0 million at any one time outstanding;

 

(j)          (i) Indebtedness of the Loan Parties constituting ABL Loan Obligations, in an aggregate outstanding principal amount not
to exceed at any one time outstanding the sum of (A) $150.0 million, plus (B) the amount of Protective Advances (as defined
in the ABL Credit Agreement) at such time made in accordance with the terms of the ABL Credit Agreement as in effect on the date
hereof or as modified in accordance with the Intercreditor Agreement and (ii) Secured Swap Obligations and Secured Bank Product
Obligations (each as defined in the ABL Credit Agreement);

 

(k)         Guarantees (i) by the Loan Parties of the Indebtedness described in Section 6.01(j) and Section 6.01(o),
(ii) by the Borrower or any Loan Party of any Indebtedness of any other Loan Party permitted to be incurred under this Agreement,
(iii) by the Borrower or any Loan Party of Indebtedness otherwise permitted hereunder of any Subsidiary that is not a Subsidiary
Guarantor, (iv) by any Subsidiary that is not a Loan Party of Indebtedness of Holdings and its Subsidiaries to the extent,
in the case of clauses (iii) and (iv), such Guarantees are permitted by Section 6.04(b) or (j)(ii);
provided that Guarantees by the Borrower or any Loan Party under this Section 6.01(k) of any other Indebtedness
of a Person that is subordinated to the Obligations shall be expressly subordinated to the Obligations on terms not materially
less favorable to the Lenders as those governing the subordination of such other Indebtedness to the Obligations; provided further
that no Guarantee by Holdings or any of its Subsidiaries of any Subordinated Indebtedness or the Indebtedness described in Section 6.01(j)
shall be permitted unless Holdings or the applicable Subsidiaries, as the case may be, shall have also provided a Guarantee of
the Obligations under the Loan Documents on substantially the terms set forth in the applicable Guarantee of such Indebtedness
or on terms acceptable to the Administrative Agent (acting at the direction of the Required Lenders);

 

(l)          Indebtedness arising from agreements of the Borrower or any Subsidiary providing for indemnification, adjustment of purchase
or acquisition price or similar obligations (including without limitation earn-out obligations), in each case, incurred or assumed
in connection with the acquisition or Disposition of any business or assets (including Equity Interests of Subsidiaries) of the
Borrower or any Subsidiary permitted by Section 6.04 or Section 6.05, other than Guarantees of Indebtedness
incurred by any Person acquiring all or any portion of such business or assets for the purpose of financing such acquisition; provided
that the aggregate maximum liability of the Borrower and its Subsidiaries in respect of any such Indebtedness does not exceed $10.0
million in the aggregate at any one time;

 

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(m)        [Reserved];

 

(n)         Indebtedness consisting of (i) the financing of insurance premiums or (ii) take-or-pay obligations contained in
supply arrangements, in each case, in the ordinary course of business;

 

(o)         (i) additional Indebtedness of the Borrower or any Subsidiary and (ii) any Permitted Refinancing Indebtedness
in respect thereof; provided that (x) after giving effect to such incurrence or issuance, no Event of Default shall
have occurred and be continuing, (y) such Indebtedness shall be Subordinated Indebtedness that matures no earlier than the
date that is, and has a Weighted Average Life to Maturity no shorter than, at the time of such incurrence or issuance, ninety-one
(91) days after the Maturity Date and (z) Indebtedness incurred under this Section 6.01(o) shall not exceed $5.0 million
in the aggregate at any time outstanding;

 

(p)         [Reserved];

 

(q)         Indebtedness existing on the Closing Date and set forth on Schedule 6.01 and any Permitted Refinancing Indebtedness
incurred to Refinance such Indebtedness;

 

(r)          Indebtedness not in respect of borrowed money supported by a letter of credit that is permitted hereunder, in a principal
amount not in excess of the stated amount of such letter of credit;

 

(s)         Indebtedness incurred by the Borrower and its Subsidiaries representing deferred compensation to directors, officers, employees,
members of management and consultants of Holdings, any Parent Entity, the Borrower or any Subsidiary in the ordinary course of
business in an aggregate amount at any one time outstanding not to exceed $10.0 million;

 

(t)          Indebtedness consisting of promissory notes issued by the Borrower and its Subsidiaries to current or former directors,
officers, employees, members of management or consultants of, Holdings, any Parent Entity, the Borrower or any Subsidiary (or their
respective estate, heirs, family members, spouse, former spouse, domestic partner or former domestic partner) to finance the purchase
or redemption of Equity Interests of any Parent Entity permitted by Section 6.06(b) in an aggregate amount at any one
time outstanding not to exceed $7.5 million;

 

(u)         Indebtedness in respect of letters of credit, bankers’ acceptances supporting trade payables, warehouse receipts or
similar facilities entered into in the ordinary course of business;

 

(v)         Indebtedness arising out of the creation of any Lien (other than Liens securing debt for borrowed money) permitted under
Section 6.02;

 

(w)        Indebtedness incurred in the ordinary course of business in respect of obligations of the Borrower or any Subsidiary to
pay the deferred purchase price of goods or services or progress payments in connection with such goods and services;

 

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(x)         unfunded pension fund and other employee benefit plan obligations and liabilities incurred in the ordinary course of business
to the extent that they are permitted to remain unfunded under Applicable Law;

 

(y)        other Indebtedness of any Borrower or any Subsidiary that is unsecured or secured by a Lien permitted under Section 6.02(y),
in an aggregate outstanding principal amount not to exceed $5.0 million at any one time outstanding and any Permitted Refinancing
Indebtedness incurred to Refinance such Indebtedness; and

 

(z)         all premium (if any), interest (including post-petition interest), fees, expenses, charges and additional or contingent
interest on Indebtedness described in paragraphs (a) through (y) above.

 

Section 6.02       
Liens. Create, incur, assume or permit to exist any Lien on any property or assets
(including Equity Interests, evidences of Indebtedness or other securities of any Person) at the time owned by it or on any income
or revenues or rights in respect of any thereof, except:

 

(a)         Liens on property or assets of the Borrower and the Subsidiaries existing on the Closing Date and set forth on Schedule 6.02
and any refinancing, modification, replacement, renewal or extension thereof; provided, that the Lien does not extend to
any additional property other than after-acquired property that is affixed to or incorporated in the property covered by such Lien
and the proceeds and products thereof;

 

(b)         any Lien (i) created under the Loan Documents and (ii) securing ABL Loan Obligations permitted by Section 6.01(j)
so long as such Liens are at all times subject to the Intercreditor Agreement;

 

(c)         any Lien securing Indebtedness or Permitted Refinancing Indebtedness permitted by Section 6.01(g), provided
that such Lien (A) in the case of Liens securing Capital Lease Obligations and purchase money Indebtedness, applies solely
to the assets securing such Indebtedness immediately prior to the consummation of the related Permitted Business Acquisition and
after acquired property that is affixed to or incorporated in the assets securing such Indebtedness, to the extent required by
the documentation governing such Indebtedness (without giving effect to any amendment thereof effected in contemplation of such
acquisition or assumption), and the proceeds and products thereof (provided that individual financings provided by one (1) Person
(or its Affiliates) otherwise permitted to be secured by Liens under this clause (c) may be cross-collateralized to
other such financings provided by such Person (or its Affiliates)), (B) in the case of Liens securing Indebtedness other than
Capital Lease Obligations or purchase money Indebtedness, such Liens do not extend to the property of any Person other than the
Person acquired in such acquisition and the subsidiaries of such Person (and the Equity Interests in such Person), (C) in
the case of clause (A) and clause (B), such Lien is not created in contemplation of or in connection with
such acquisition or assumption, (D) in the case of a Lien securing Permitted Refinancing Indebtedness, any such Lien is permitted,
subject to compliance with clause (e) of the definition of the term “Permitted Refinancing Indebtedness”
and (E) in the case of any Indebtedness incurred by the Borrower or any Loan Party and secured with Term Loan Priority Collateral,
such Indebtedness shall be secured only by a Junior Lien on such Term Loan Priority Collateral pursuant to an intercreditor arrangement
satisfactory to the Administrative Agent (acting at the direction of the Required Lenders);

 

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(d)              
Liens for Taxes, assessments or other governmental charges or levies which are not overdue by more than thirty (30) days
or, if more than thirty (30) days overdue, which are being contested in accordance with Section 5.03;

 

(e)              
landlord’s, carriers’, warehousemen’s, mechanics’, materialmen’s, repairmen’s, construction
or other like Liens arising in the ordinary course of business and securing obligations that are not overdue by more than thirty
(30) days or, if more than thirty (30) days overdue, which are being contested in accordance with Section 5.03;

 

(f)              
(i) pledges and deposits made (including to support obligations in respect of letters of credit, bank guarantees or
similar instruments to secure) in the ordinary course of business in compliance with the Federal Employers Liability Act or any
other workers’ compensation, unemployment insurance and other social security laws or regulations and deposits securing premiums
or liability to insurance carriers under insurance or self-insurance arrangements in respect of such obligations or otherwise as
permitted in Section 6.01(c) and (ii) pledges and deposits securing liability for reimbursement or indemnification
obligations of (including to support obligations in respect of letters of credit, bank guarantees or similar instruments for the
benefit of) insurance carriers in respect of property, casualty or liability insurance to the Borrower or any Subsidiary provided
by such insurance carriers;

 

(g)             
(i) deposits to secure the performance of bids, trade contracts (other than for debt for borrowed money), leases (other
than Capital Lease Obligations), statutory obligations, surety, stay, customs and appeal bonds, performance, performance and completion
and return of money bonds, government contracts, financial assurances and completion and similar obligations, including those incurred
to secure health, safety and environmental obligations in the ordinary course of business and (ii) obligations in respect
of letters of credit or bank guarantees that have been posted to support payment of the items set forth in clause (i)
of this Section 6.02(g);

 

(h)             
zoning restrictions, easements, trackage rights, leases (other than Capital Lease Obligations), licenses, special assessments,
rights-of-way, restrictions on use of real property and other similar encumbrances incurred in the ordinary course of business
that, in the aggregate, do not interfere in any material respect with the ordinary conduct of the business of the Borrower or any
Subsidiary;

 

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(i)              
Liens securing Capital Lease Obligations, mortgage financings, and purchase money Indebtedness or improvements thereto hereafter
acquired, leased, repaired or improved by the Borrower or any Subsidiary (including the interests of vendors and lessors under
conditional sale and title retention agreements); provided that (i) such security interests secure only Indebtedness
permitted by Section 6.01(h) (including any Permitted Refinancing Indebtedness in respect thereof), (ii) such
security interests are created, and the Indebtedness secured thereby is incurred, within two hundred seventy (270) days after
such acquisition, lease, completion of construction or repair or improvement (except in the case of any Permitted Refinancing Indebtedness),
(iii) the Indebtedness secured thereby does not exceed the cost of such equipment or other property or improvements at the
time of such acquisition or construction, including transaction costs (including any fees, costs or expenses or prepaid interest
or similar items) incurred by the Borrower or any Subsidiary in connection with such acquisition or construction or material repair
or improvement or financing thereof and (iv) such security interests do not apply to any other property or assets of the Borrower
or any Subsidiary (other than to the proceeds and products of and the accessions to such equipment or other property or improvements
but not to other parts of the property to which any such improvements are made; provided that individual financings provided by
one (1) Person (or its Affiliates) otherwise permitted to be secured by Liens under this clause (i) may be cross-collateralized
to other such financings provided by such Person (or its Affiliates)));

 

(j)              
Liens arising out of (i) Sale and Lease-Back Transactions permitted under Section 6.03 and (ii) any
Indebtedness incurred in connection therewith permitted by Section 6.01(i) (and any Permitted Refinancing Indebtedness
in respect thereof), so long as such Liens attach only to the property sold and being leased in such transaction and any accessions
thereto or proceeds or products thereof and related property;

 

(k)              
Liens securing judgments that do not constitute an Event of Default under Section 7.01(j);

 

(l)               
[reserved];

 

(m)             
any interest or title of a lessor, sublessor, licensor or sublicensee under any leases, subleases, licenses or sublicenses
entered into by the Borrower or any Subsidiary in the ordinary course of business;

 

(n)             
Liens that are contractual rights of set-off (i) relating to the establishment of depository relations with banks not
given in connection with the issuance of Indebtedness, (ii) relating to pooled deposit or sweep accounts of the Borrower or
any Subsidiary to permit satisfaction of overdraft or similar obligations incurred in the ordinary course of business of the Borrower
or any Subsidiary, (iii) relating to purchase orders and other agreements entered into with customers of the Borrower or any
Subsidiary in the ordinary course of business, (iv) attaching to commodity trading or other brokerage accounts incurred in
the ordinary course of business and (v) encumbering reasonable customary initial deposits and margin deposits;

 

(o)              
Liens arising solely by virtue of any statutory or common law provision relating to banker’s liens, rights of set-off
or similar rights;

 

(p)              
Liens securing obligations in respect letters of credit permitted under Section 6.01(c), (e), (r)
and (u);

 

(q)              
(i) leases, subleases, licenses or sublicenses of property in the ordinary course of business or (ii) rights reserved
to or vested in any Person by the terms of any lease, license, franchise, grant or permit held by the Borrower or any Subsidiary
or by a statutory provision to terminate any such lease, license, franchise, grant or permit or to require periodic payments as
a condition to the continuance thereof;

 

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(r)               
Liens in favor of customs and revenue authorities arising as a matter of law to secure payment of customs duties in connection
with the importation of goods;

 

(s)               
Liens (i) solely on any cash earnest money deposits or Permitted Investments made by the Borrower or any of the Subsidiaries
in connection with any letter of intent or purchase agreement with respect to any Permitted Business Acquisition or other Investment
permitted hereunder and (ii) consisting of an agreement to dispose of any property in a transaction permitted under Section 6.05;

 

(t)               
Liens arising from precautionary UCC financing statements (or similar filings under other Applicable Law) regarding operating
leases or consignment or bailee arrangements;

 

(u)              
Liens on securities that are the subject of repurchase agreements constituting Permitted Investments under clause (c)
of the definition thereof arising out of such repurchase transaction;

 

(v)              
(i) Liens on Equity Interests in Joint Ventures securing obligations of such Joint Venture and (ii) customary
rights of first refusal and tag, drag and similar rights in joint venture agreements entered into in the ordinary course of business;

 

(w)             
Liens in favor of the Borrower or the Subsidiaries that are Loan Parties securing intercompany Indebtedness permitted under
Section 6.04;

 

(x)              
Liens (i) arising out of conditional sale, title retention, consignment or similar arrangements for sale of goods entered
into by the Borrower or the Subsidiaries in the ordinary course of business and (ii) arising by operation of law under Article 2
of the Uniform Commercial Code;

 

(y)              
Liens with respect to property or assets of any Borrower or any Subsidiaries securing Indebtedness permitted under Section
6.01(y); provided that (i) the aggregate principal amount of the Indebtedness or other obligations secured by such Liens
does not exceed $5.0 million at any time outstanding and (ii) any such Liens on Term Loan Priority Collateral shall be Junior Liens;

 

(z)               
Liens on insurance policies and the proceeds thereof securing the financing of Indebtedness permitted pursuant to Section
6.01(n)(i);

 

(aa)             
ground leases in the ordinary course in respect of real property on which facilities owned or leased by the Borrower or
any of its Subsidiaries are located; and

 

(bb)            
Liens in favor of the ABL Administrative Agent for the benefit of the ABL Secured Parties securing Cash Management Obligations
(as defined in the ABL Credit Agreement) permitted by Section 6.01 of the ABL Credit Agreement.

 

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Section 6.03       
Sale and Lease-Back Transactions. Enter into any arrangement, directly or indirectly,
with any Person whereby it shall sell or transfer any fixed or capital assets, used or useful in its business, whether now owned
or hereafter acquired, or, for the benefit of a Loan Party, direct or cause the sale or transfer of any fixed or capital assets,
used or useful in its business to a Person and substantially contemporaneously rent or lease from the transferee or such Person
such fixed or capital assets that it intends to use for substantially the same purpose or purposes as the property being sold or
transferred (a “Sale and Lease-Back Transaction”), except for (a) the Plan Sale Leaseback and (b) any such sale
of any fixed or capital assets acquired by the Borrower or any Subsidiary after the Closing Date that is permitted under Section
6.05(g) and is consummated within ninety (90) days after the Borrower or such Subsidiary acquires or completes the construction
of such fixed or capital asset.

 

Section 6.04       
Investments, Loans and Advances. Purchase, hold or acquire any Equity Interests,
evidences of Indebtedness or other securities of, make or permit to exist any loans or advances to or Guarantees of the obligations
of, another Person, or make any Acquisition (each, an “Investment”), except:

 

(a)              
Investments among the Borrower and the Subsidiary Guarantors;

 

(b)              
Investments by the Borrower and the Subsidiary Guarantors in Subsidiaries that are not Subsidiary Guarantors; provided
that (i) no Event of Default shall have occurred and be continuing at the time any such Investment is made and (ii) the sum of
all such Investments (valued at the time of the making thereof and without giving effect to any write-downs or write-offs thereof,
but net in the case of intercompany loans, and in any event, after giving effect to any returns, profits, distributions, and similar
amounts, repayment of loans and the release of guarantees) made on or after the Closing Date shall not exceed an aggregate net
amount equal to $5.0 million outstanding at any time; and provided further that intercompany current liabilities incurred
in the ordinary course of business in connection with the cash management operations of the Borrower and its Subsidiaries shall
not be included in calculating the limitation in this paragraph at any time;

 

(c)              
Permitted Investments and investments that were Permitted Investments when made;

 

(d)              
Investments arising out of the receipt by the Borrower or any Subsidiary of promissory notes and other non-cash consideration
for Dispositions permitted under Section 6.05 (excluding clauses (a), (b), (d), (e),
(f)(i), (j), (k), (p), (r), (u), and (v) of Section 6.05);

 

(e)              
(i) loans and advances to directors, officers, employees, members of management or consultants of Holdings (or any
Parent Entity), the Borrower or any Subsidiary in the ordinary course of business not to exceed $1.0 million in the aggregate
at any time outstanding (calculated without regard to write-downs or write-offs thereof) and (ii) advances of payroll payments
and expenses to directors, officers, employees, members of management or consultants in the ordinary course of business;

 

(f)               
accounts receivable, notes receivable, security deposits and prepayments arising and trade credit granted in the ordinary
course of business and any Investments received in satisfaction or partial satisfaction thereof from financially troubled account
debtors and other credits to suppliers made in the ordinary course of business;

 

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(g)              
Investments under Swap Agreements permitted pursuant to Section 6.01;

 

(h)              
Investments existing on, or contractually committed as of, the Closing Date and set forth on Schedule 6.04 and
any modification, replacement, renewal or extension thereof so long as any such modification, renewal or extension thereof does
not increase the amount of such Investment except by terms thereof or as otherwise permitted by this Section 6.04;

 

(i)               
Investments resulting from pledges and deposits permitted by Section 6.02(b)(ii), (f) and (g);

 

(j)               
Investments (i) constituting Permitted Business Acquisitions and (ii) by any Subsidiary that is not a Subsidiary Guarantor in
any other Subsidiary that is not a Subsidiary Guarantor;

 

(k)              
Guarantees (i) permitted by Section 6.01(k) and (ii) of leases (other than Capital Lease Obligations)
or of other obligations not constituting Indebtedness, in each case in the ordinary course of business;

 

(l)              
Investments received in connection with the bankruptcy or reorganization of any Person, or settlement of obligations of,
or other disputes with or judgments against, or foreclosure or deed in lieu of foreclosure with respect to any Lien held as security
for an obligation, in each case in the ordinary course of business;

 

(m)             
[reserved;]

 

(n)              
[reserved;]

 

(o)              
Investments in Holdings in amounts and for purposes for which Restricted Payments to Holdings would have been permitted
under Section 6.06, in lieu of such Restricted Payments;

 

(p)              
to the extent constituting Investments, (i) Sale and Lease-Back Transactions, (ii) Restricted Payments, and (iii) prepayments
and repurchases of Indebtedness expressly permitted under Section 6.03 and/or 6.06;

 

(q)              
so long as no Default or Event of Default shall have occurred any be continuing, Investments made in cash by the Borrower
or any Subsidiary in an outstanding aggregate amount (valued at the time of the making thereof, and without giving effect to any
write-downs or write-offs thereof) not to exceed $7.5 million, (plus any returns, profits, distributions and similar
amounts, and the repayments of loans in respect of Investments theretofore made by it pursuant to this paragraph (q));

 

(r)               
other Investments (other than Guarantees) made in cash by the Borrower or any Subsidiary not to exceed $2.0 million during
the term of this Agreement; and

 

(s)              
Investments in the ordinary course of business consisting of (i) endorsements for collection or deposit or (ii) customary
trade arrangements with customers; and

 

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(t)               
Investments to the extent the consideration paid therefor consists solely of Equity Interests of any Parent Entity not resulting
in a Change in Control.

 

Notwithstanding anything
to the contrary in this Agreement, in no event shall any Loan Party make any Investment consisting of, or otherwise contribute
or transfer, any Material Intellectual Property to any Person that is not a Loan Party other than to the extent constituting non-exclusive
outbound licenses of patents, copyrights, trademarks and other intellectual property rights granted by a Loan Party in the ordinary
course of business and not interfering in any respect with the ordinary conduct of or materially detracting from the value of the
Term Loan Priority Collateral or the business of the Borrower and its Subsidiaries.

 

Section 6.05       
Mergers, Consolidations and Dispositions. Merge into or consolidate with any other
Person, or permit any other Person to merge into or consolidate with it, or Dispose of (in one (1) transaction or in a series
of related transactions) all or any part of its assets (whether now owned or hereafter acquired), or Dispose of any Equity Interests
of any Subsidiary of the Borrower (including pursuant to any Division), except that this Section shall not prohibit:

 

(a)              
(i) the Disposition of inventory and equipment in the ordinary course of business by the Borrower or any Subsidiary,
(ii) the Disposition of surplus, obsolete, used or worn out property (other than Inventory), whether now owned or hereafter
acquired, in the ordinary course of business by the Borrower or any Subsidiary, (iii) the leasing or subleasing of real property
in the ordinary course of business by the Borrower or any Subsidiary or (iv) the Disposition of Permitted Investments in the
ordinary course of business;

 

(b)              
if at the time thereof and immediately after giving effect thereto no Event of Default shall have occurred and be continuing,
(i) the merger of any Subsidiary of Holdings (which shall either be (A) newly formed expressly for the purpose of such
transaction and which owns no assets, (B) Intermediate Holdings or (C) a Subsidiary of the Borrower) into the Borrower
in a transaction in which the Borrower is the surviving or resulting entity or the surviving or resulting Person expressly assumes
the obligations of the Borrower in a manner reasonably satisfactory to the Administrative Agent (acting at the direction of the
Required Lenders) (for the avoidance of doubt, the Borrower shall not be permitted to consummate a Division), (ii) the merger
or consolidation of any Subsidiary with or into any other Subsidiary; provided that in any such merger or consolidation
involving any Subsidiary Guarantor, a Subsidiary Guarantor shall be the surviving or resulting Person, (iii) the liquidation
or dissolution of any Subsidiary (other than the Borrower) if the Borrower determines in good faith that such liquidation, dissolution
or change in form is in the best interests of the Borrower and the assets of such liquidating or dissolving Subsidiary are transferred
to the Borrower or a Subsidiary Guarantor, or (iv) the merger of Parent and Intermediate Holdings (or the dissolution or consolidation
of Intermediate Holdings);

 

(c)               
Dispositions among the Borrower and the Subsidiary Guarantors (upon voluntary liquidation or otherwise);

 

(d)              
[reserved];

 

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(e)              
to the extent constituting a Disposition, Liens permitted by Section 6.02, Investments permitted by Section 6.04
(other than Section 6.04(p)), and Restricted Payments permitted by Section 6.06 (other than Section 6.06(e));

 

(f)               
Dispositions of receivables in the ordinary course of business (i) not as part of an accounts receivables financing
transaction or (ii) in connection with the collection, settlement or compromise thereof in a bankruptcy or similar proceeding;

 

(g)              
Dispositions by the Borrower or any Subsidiary of assets not otherwise permitted by this Section 6.05; provided
that the consideration for any Disposition shall be at least 75% cash consideration (provided that for purposes of the 75%
cash consideration requirement (w) the amount of any Indebtedness or other liabilities of the Borrower or any Subsidiary (as
shown on such Person’s most recent balance sheet or in the notes thereto) that are assumed by the transferee of any such
assets, (x) the amount of any trade-in value applied to the purchase price of any replacement assets acquired in connection and
substantially contemporaneously with such Disposition, and (y) any securities received by such Subsidiary from such transferee
that are converted by such Subsidiary into cash or cash equivalents (to the extent of the cash or cash equivalents received) substantially
contemporaneously following the closing of the applicable Disposition, in each case, shall be deemed to be cash); provided further
that immediately prior to and after giving effect to such Disposition, no Event of Default shall have occurred or be continuing;
provided further that, Dispositions made pursuant to this Section 6.05(g) shall not exceed $2.5 million in aggregate
in any fiscal year;

 

(h)              
Dispositions by the Borrower or any Subsidiary of assets that were acquired in connection with an acquisition permitted
hereunder (including, without limitation, Permitted Business Acquisitions); provided that any such sale, transfer, lease
or other disposition shall be made or contractually committed to be made within two hundred seventy (270) days of the date
such assets were acquired by the Borrower or such Subsidiary; and provided further that, Dispositions made pursuant to this
Section 6.05(h) shall not exceed $2.5 million in aggregate in any fiscal year;

 

(i)               
any merger or consolidation in connection with an Investment permitted under Section 6.04; provided that
(i) if the continuing or surviving Person is a Loan Party or a Subsidiary of a Loan Party, such Loan Party or Subsidiary shall
have complied with its obligations under Section 5.09 (if any), and (ii) if the Borrower is a party thereto, the
Borrower shall be the continuing or surviving Person or the continuing or surviving Person shall assume the obligations of the
Borrower in a manner reasonably acceptable to the Administrative Agent (acting at the direction of the Required Lenders);

 

(j)              
licensing and cross-licensing arrangements involving any technology or other intellectual property of the Borrower or any
Subsidiary in the ordinary course of business and not interfering in any material respect with the ordinary conduct of or materially
detracting from the value of the business of the Borrower and its Subsidiaries;

 

(k)              
Dispositions of Inventory or other property of the Borrower and the Subsidiaries determined by the management of the Borrower
to be no longer useful or necessary in the operation of the business of the Borrower or any of its Subsidiaries, provided
that, Dispositions made pursuant to this Section 6.05(k) shall not exceed $5.0 million in aggregate in any fiscal year;

 

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(l)               
[reserved];

 

(m)             
the issuance of Qualified Capital Stock by the Borrower;

 

(n)              
sales of Equity Interests of any Subsidiary of the Borrower; provided that, in the case of the sale of the Equity
Interests of a Subsidiary Guarantor, the purchaser shall be the Borrower or another Subsidiary Guarantor or such transaction shall
fit within another clause of this Section 6.05 or constitute an Investment permitted by Section 6.04 (other
than Section 6.04(p));

 

(o)              
Dispositions of property to the extent that (i) such property is exchanged for credit against the purchase price of
similar replacement property or (ii) the proceeds of such sale, transfer, lease or other disposition are promptly applied
to the purchase price of such replacement property, provided that, Dispositions made pursuant to this Section 6.05(o)
shall not exceed $5.0 million in aggregate in any fiscal year;

 

(p)              
leases, subleases, licenses or sublicenses of property (other than intellectual property) in the ordinary course of business
and which do not materially interfere with the business of the Borrower and the Subsidiaries;

 

(q)              
Dispositions of property subject to casualty or condemnation proceeding (including in lieu thereof) upon receipt of the
net proceeds therefor;

 

(r)               
Dispositions of property in the ordinary course of business consisting of the abandonment of intellectual property rights
which, in the reasonable good faith determination of the Borrower, are not material to the conduct of the business of the Borrower
and the Subsidiaries;

 

(s)               
Dispositions of Investments in Joint Ventures to the extent required by, or made pursuant to, buy/sell arrangements between
the joint venture parties set forth in, joint venture arrangements and similar binding arrangements;

 

(t)               
[reserved];

 

(u)              
terminations of Swap Agreements;

 

(v)              
the expiration of any option agreement in respect of real or personal property;

 

(w)             
[reserved];

 

(x)              
any surrender or waiver of contractual rights or the settlement, release or surrender of contractual rights or other litigation
claims in the ordinary course of business;

 

(y)              
[reserved];

 

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(z)              
any change in form of entity of any Subsidiary if the Borrower determines in good faith that such change in form is in the
best interests of the Borrower; provided that the Borrower and such Subsidiary shall substantially concurrently with such
change in form take all actions necessary, if any, to preserve the perfection of the Administrative Agent’s Lien on the Equity
Interests in and Property of such Subsidiary (other than any Excluded Assets);

 

(aa)            
as long as no Event of Default then exists or would arise therefrom, bulk sales or other dispositions of the Loan Parties’
Inventory outside of the ordinary course of business in connection with store closings that are conducted on an arm’s-length
basis and not to an Affiliate; provided that such store closures and related Inventory dispositions shall not exceed, in
any fiscal year 20.0% of the number of the Loan Parties’ stores as of the beginning of such fiscal year (net of store relocations
wherein a binding lease has been entered into for a new store opening prior to the related store closure date); provided,
further, that all sales of Inventory in connection with store closings shall be paid to a Deposit Account that is subject
to a Control Agreement; and

 

(bb)            
the Plan Sale Leaseback in accordance with the Plan of Reorganization.

 

Notwithstanding anything
to the contrary contained above in this Section 6.05, (i) no Disposition or series of related Dispositions in
excess of $1.0 million shall be permitted by this Section 6.05 (other than Dispositions pursuant to paragraphs (a)(ii),
(b), (c), (i), (k), (r), (s), (u), or (v)) unless such Disposition is for
fair market value (as reasonably determined by the Borrower), (ii) no Disposition shall be permitted by paragraphs (k)
or (aa) of this Section 6.05 without receiving at least 75% cash consideration for each such Disposition, (iii) no
Disposition or series of related Dispositions in excess of $1.5 million shall be permitted by paragraph (h) of
this Section 6.05 unless such Disposition is for at least 75% cash consideration; provided that for purposes
of the 75% cash consideration requirement in the foregoing clause (iii), (w) the amount of any Indebtedness or
other liabilities of the Borrower or any Subsidiary (as shown on such Person’s most recent balance sheet or in the notes
thereto) that are assumed by the transferee of any such assets, (x) the amount of any trade-in value applied to the purchase price
of any replacement assets acquired in connection and substantially contemporaneously with such Disposition and (y) any securities
received by such Subsidiary from such transferee that are converted by such Subsidiary into cash or cash equivalents (to the extent
of the cash or cash equivalents received) substantially contemporaneously with the closing of the applicable Disposition, in each
case, shall be deemed to be cash, (iv) [reserved], and (v) in no event shall (x) any Loan Party Dispose of any Material Intellectual
Property to any Person that is not a Loan Party other than to the extent constituting non-exclusive outbound licenses of patents,
copyrights, trademarks and other intellectual property rights granted by a Loan Party in the ordinary course of business and not
interfering in any respect with the ordinary conduct of or materially detracting from the value of the Term Loan Priority Collateral
or the business of the Borrower and its Subsidiaries or (y) any Subsidiary that is not a Loan Party own or develop any Material
Intellectual Property.

 

Section 6.06       
Dividends and Distributions. Declare or pay, directly or indirectly, any dividend
or make any other distribution (by reduction of capital or otherwise), whether in cash, property, securities or a combination thereof,
with respect to any Equity Interests of the Borrower (other than dividends and distributions on such Equity Interests payable solely
by the issuance of additional Equity Interests of the Borrower) or directly or indirectly redeem, purchase, retire or otherwise
acquire for value any Equity Interests of the Borrower or set aside any amount for any such purpose (other than through the issuance
of additional Equity Interests of the Person redeeming, purchasing, retiring or acquiring such shares) (a “Restricted
Payment”); provided, however, that:

 

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(a)              
the Borrower may make Restricted Payments in cash as shall be necessary to allow Holdings (or any Parent Entity) (i) to
pay operating expenses in the ordinary course of business and other corporate overhead, legal, accounting and other professional
fees and expenses (including, without limitation, those owing to third parties plus any customary indemnification claims made by
directors, officers, employees, members of management and consultants of Holdings (or any Parent Entity) directly attributable
and reasonably allocated to the ownership or operations of Holdings, the Borrower and the Subsidiaries), (ii) to pay fees
and expenses related to any debt or equity offering, investment or acquisition permitted hereunder (whether or not successful)
and (iii) to pay franchise or similar taxes and other fees and expenses required in connection with the maintenance of its
existence and its ownership of the Borrower and in order to permit Holdings to make payments (other than cash interest payments)
which would otherwise be permitted to be paid by the Borrower under Section 6.07(b);

 

(b)              
the Borrower may make Restricted Payments in the form of cash or, to the extent permitted by Section 6.01(t), unsecured
Indebtedness consisting of promissory notes, the proceeds of which are used to purchase or redeem the Equity Interests of Holdings
or any Parent Entity (including related stock appreciation rights or similar securities) held by then present or former directors,
officers, employees, members of management or consultants of any Parent Entity, the Borrower or any of its Subsidiaries (or the
estate, heirs, family members, spouse, former spouse, domestic partner or former domestic partner of any of the foregoing) or by
any Plan, in each case, pursuant to and in accordance with stock option plans or other benefit plans for management or employees,
provided that the aggregate amount of such Restricted Payments under this paragraph (b) shall not exceed $2.5
million in any fiscal year, which, if not used in any year, may be carried forward to the next subsequent fiscal year;

 

(c)              
repurchases of Equity Interests in Holdings (or any Parent Entity), the Borrower or any Subsidiary deemed to occur upon
exercise of stock options or similar Equity Interests if such repurchased Equity Interests represent a portion of the exercise
price of such options or taxes to be paid in connection therewith;

 

(d)              
the Borrower and any Subsidiary of the Borrower may make Restricted Payments in cash to any direct or indirect member of
an affiliated group of corporations that files a consolidated U.S. federal tax return with the Borrower (the “Tax Distributions”),
provided that, such Tax Distributions shall not exceed the excess of (i) the amount that the Borrower or such Subsidiaries would
have been required to pay in respect of federal, state or local taxes, as the case may be, in respect of such year if the Borrower
or such Subsidiaries had paid such taxes directly as a stand-alone taxpayer or stand-alone group and (ii) the portion of such federal,
state or local taxes that is directly paid by the Borrower or such Subsidiaries;

 

(e)              
to the extent constituting a Restricted Payment, the Borrower and the Subsidiaries may enter into transactions expressly
permitted by Section 6.05(b) or (m);

 

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(f)           the proceeds of which shall be used by Holdings to make (or to make a Restricted Payment to any Parent Entity to enable
it to make) cash payments in lieu of the issuance of fractional shares in connection with the exercise of warrants, options or
other securities convertible into or exchangeable for Equity Interests of Holdings or any Parent Entity;

 

(g)          payments made by the Borrower or any of its Subsidiaries in cash in respect of withholding or similar Taxes payable by any
future, present or former officers, directors, employees, members of management or consultants of the Borrower (or any Parent Entity)
or any of its Subsidiaries (or the estate, heirs, family members, spouse, former spouse, domestic partner or former domestic partner
of the foregoing) and any repurchases of Equity Interests in consideration for such payments including demand repurchases in connection
with the exercise of stock options;

 

(h)          the Borrower may make Restricted Payments to Holdings in cash so long Restricted Payments made under this Section 6.06(h)
do not exceed $2.0 million during the term of this Agreement;

 

(i)            redemptions, repurchases, retirements or other acquisitions of Equity Interests of the Borrower or any Parent Entity in
exchange for, or out of the proceeds of the substantially concurrent sale (other than to the Borrower or a Subsidiary) of, Equity
Interests of the Borrower or any Parent Entity (to the extent the proceeds of such sale are contributed to the capital of the Borrower)
(in each case, other than any Equity Interests issued or sold that are not Qualified Capital Stock) (“Refunding Capital
Stock”); and

 

(j)           the Rights Offering;

 

provided that, notwithstanding
anything to the contrary herein, no Loan Party may make any Restricted Payment consisting of any Material Intellectual Property.

 

Section 6.07         
Transactions with Affiliates.

 

(a)          Sell or transfer any property or assets to, or purchase or acquire any property or assets from, or otherwise engage in any
other transaction with, any of its Affiliates, unless such transaction is (i) otherwise permitted (or required) under this
Agreement and (ii) upon terms no less favorable to the Borrower or such Subsidiary, as applicable, than would be obtained
in a comparable arm’s-length transaction with a Person that is not an Affiliate.

 

(b)          The foregoing paragraph (a) shall not prohibit,

 

(i)            any issuance of securities, or other payments, awards or grants in cash, securities or otherwise pursuant to, or the funding
of, employment arrangements, stock options and stock ownership plans approved by the board of directors (or equivalent governing
body) of any Parent Entity,

 

(ii)           loans or advances to directors, officers, employees, members of management or consultants of Holdings, the Borrower or any
of its Subsidiaries permitted by Section 6.04,

 

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(iii)          transactions among the Loan Parties, in each case otherwise permitted by the Loan Documents,

 

(iv)          the payment of fees and indemnities to directors, officers, employees, members of management or consultants of any Parent
Entity, the Borrower and the Subsidiaries in the ordinary course of business,

 

(v)           permitted agreements in existence on the Closing Date and set forth on Schedule 6.07 or any amendment thereto
to the extent such amendment is not adverse to the Lenders in any material respect,

 

(vi)          (A) any employment or severance agreements or arrangements entered into by the Borrower or any of the Subsidiaries
in the ordinary course of business, (B) any subscription agreement or similar agreement pertaining to the repurchase of Equity
Interests pursuant to put/call rights or similar rights with employees, officers, directors, members of management or consultants,
and (C) any employee compensation, benefit plan or arrangement, any health, disability or similar insurance plan which covers
employees, and any reasonable employment contract or arrangement and transactions pursuant thereto,

 

(vii)         Restricted Payments permitted under Section 6.06,

 

(viii)       
any purchase by Holdings of or contributions to, the equity capital of the Borrower,

 

(ix)          [reserved],

 

(x)           any transaction in respect of which the Borrower delivers to the Administrative Agent a letter addressed to the board of
directors (or equivalent governing body) of the Borrower from an accounting, appraisal or investment banking firm, in each case
of nationally recognized standing, which letter states that such transaction is on terms that are no less favorable to the Borrower
or such Subsidiary, as applicable, than would be obtained in a comparable arm’s-length transaction with a Person that is
not an Affiliate (such letter, a “Fairness Opinion”),

 

(xi)          the Transactions and the other transactions contemplated by the Plan of Reorganization to the extent consummated substantially
in accordance with the Plan of Reorganization, including the payment of all fees, expenses, bonuses and awards (including Transaction
Costs) related thereto,

 

(xii)         Guarantees permitted by Section 6.01,

 

(xiii)       
the issuance and sale of Qualified Capital Stock,

 

(xiv)        [reserved], and

 

(xv)         the indemnification of directors, officers, employees, members of management or consultants of any Parent Entity, the Borrower
and its Subsidiaries in accordance with customary practice.

 

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In the event the Borrower
or any of its Subsidiaries proposes to consummate any transaction with an Affiliate (other than a transaction permitted under Section
6.07(b)) involving aggregate consideration of at least $30.0 million, the Borrower shall, prior to the consummation of such
transaction, deliver a Fairness Opinion with respect to such transaction to the Administrative Agent.

 

Section 6.08          Business of Holdings, the Borrower and the Subsidiaries. Notwithstanding any other
provisions hereof, engage at any time in any business or business activity other than:

 

(a)           in the case of Holdings, (i) ownership and acquisition of Equity Interests in Intermediate Holdings or the Borrower,
as applicable, together with activities directly related thereto, (ii) performance of its obligations under and in connection
with the Loan Documents (and Permitted Refinancing Indebtedness in respect thereof), (iii) actions incidental to the consummation
of the Transactions (including the payment of Transaction Costs), (iv) the performance of its obligations after the Closing
Date in respect of guaranteeing Indebtedness or obligations of the Borrower and its Subsidiaries, (v) the payment by Holdings,
directly or indirectly, of dividends or other distributions (by reduction of capital or otherwise), whether in cash, property,
securities or a combination thereof, with respect to any of its Equity Interests, or directly or indirectly redeeming, purchasing,
retiring or otherwise acquiring for value any of its Equity Interests or setting aside any amount for any such purpose, (vi) actions
required by law to maintain its existence, (vii) the payment of taxes and other customary obligations, (viii) the issuance
of Equity Interests, and (ix) activities incidental to its maintenance and continuance and to the foregoing activities, or

 

(b)          in the case of the Borrower and any Subsidiary, any business or business activity conducted by any of them on the Closing
Date and any business or business activities incidental or related thereto, or any business or activity that is reasonably similar
thereto or a reasonable extension, development or expansion thereof or ancillary thereto.

 

Notwithstanding anything to the contrary
contained in herein, Holdings shall not sell, dispose of, grant a Lien on or otherwise transfer its Equity Interests in Intermediate
Holdings or the Borrower, as applicable (other than (i) Liens created by the Security Documents, (ii) subject to the
relevant intercreditor agreement, Liens created by the ABL Loan Documents, (iii) Liens arising by operation of law that would
be permitted under Section 6.02 or (iv) the sale, disposition or other transfer (whether by purchase and sale,
merger, consolidation, liquidation or otherwise) of the Equity Interests of the Borrower to any Parent Entity that becomes a Loan
Party and agrees to be bound by this Section 6.08 contemporaneously with the consummation of such transaction).

 

Section 6.09          Limitation
on Modification of Indebtedness; Modification of Certificate of Incorporation, By-Laws and Certain Other Agreements; etc. 

 

(a)           (i) Amend or modify in any manner materially adverse to the Lenders or the Administrative Agent, or grant any waiver or
release under or terminate in any manner (if such granting or termination shall be materially adverse to the Lenders or the Administrative
Agent), the articles or certificate of incorporation or by-laws or limited liability company operating agreement of Holdings, the
Borrower or any of the Subsidiary Guarantors or (ii) amend, modify or otherwise change, or consent or agree to any amendment, modification,
waiver or other change to any ABL Loan Document to the extent that any such amendment, modification, waiver or other change would
be prohibited by the terms of the Intercreditor Agreement; or

 

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(b)          Make, or agree to make, directly or indirectly, any payment or other distribution (whether in cash, securities or other
property) of or in respect of principal of or interest on any Subordinated Indebtedness, Indebtedness secured by a Junior Lien
(other than the ABL Loan Obligations) or unsecured Indebtedness for borrowed money (including any Indebtedness incurred under Section
6.01(o)), or any payment or other distribution (whether in cash, securities or other property), including any sinking fund
or similar deposit, on account of the purchase, redemption, retirement, acquisition, cancellation or termination of such Subordinated
Indebtedness, Indebtedness secured by a Junior Lien (other than the ABL Loan Obligations) or unsecured Indebtedness for borrowed
money (except for (i) Refinancings otherwise permitted by Section 6.01, (ii)  any AHYDO “catch up”
payments and (iii) the conversion of any Subordinated Indebtedness, Indebtedness secured by a Junior Lien (other than the
ABL Loan Obligations) or unsecured Indebtedness for borrowed money to Qualified Capital Stock of Holdings or any Parent Entity
(each such payment or distribution, a “Restricted Debt Payment”)).

 

(c)          Permit the Borrower or any Subsidiary to enter into any agreement or instrument that by its terms restricts (i) the
payment of dividends or distributions or the making of cash advances to (or the repayment of cash advances from) the Borrower or
any Subsidiary or (ii) the granting of Liens on Collateral pursuant to the Security Documents, in each case other than those
arising under any Loan Document, except, in each case, restrictions existing by reason of:

 

(i)            restrictions imposed by Applicable Law;

 

(ii)           (A) contractual encumbrances or restrictions in effect on the Closing Date or contained in any agreements related to any
Permitted Refinancing Indebtedness incurred to Refinance such Indebtedness, or (B) any such encumbrances or restrictions in any
ABL Loan Documents or Permitted Refinancing Indebtedness in respect thereof, in each case so long as the scope of such encumbrance
or restriction is no more expansive in any material respect than any such encumbrance or restriction in effect on the Closing Date
(or the date of issuance as the case may be), or any agreement (regardless of whether such agreement is in effect on the Closing
Date) providing for the subordination of Subordinated Intercompany Debt;

 

(iii)          any restriction on a Subsidiary imposed pursuant to an agreement entered into for the Disposition of all or substantially
all the Equity Interests or assets of such Subsidiary pending the closing of such sale or disposition;

 

(iv)          customary provisions in Joint Venture agreements and other similar agreements applicable to Joint Ventures entered into
in the ordinary course of business;

 

(v)           any restrictions imposed by any agreement relating to secured Indebtedness permitted by this Agreement to the extent that
such restrictions apply only to the property or assets securing such Indebtedness;

 

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(vi)          customary provisions contained in leases, subleases, licenses or sublicenses of intellectual property and other similar
agreements entered into in the ordinary course of business;

 

(vii)         customary provisions restricting subletting or assignment of any lease governing a leasehold interest;

 

(viii)        customary provisions restricting assignment of any agreement entered into in the ordinary course of business;

 

(ix)          customary
restrictions and conditions contained in any agreement relating to any Disposition permitted under Section 6.05 pending
the consummation of such Disposition;

 

(x)           customary restrictions and conditions contained in the document relating to any Lien, so long as (A) such Lien is permitted
under Section 6.02 and such restrictions or conditions relate only to the specific asset subject to such Lien and the
proceeds and products thereof, and (B) such restrictions and conditions are not created for the purpose of avoiding the restrictions
imposed by this Section 6.09;

 

(xi)          customary net worth provisions contained in real property leases entered into by Subsidiaries of the Borrower, so long as
the Borrower has determined in good faith that such net worth provisions could not reasonably be expected to impair the ability
of the Borrower and its Subsidiaries to meet their ongoing obligations;

 

(xii)         any agreement in effect at the time such Person becomes a Subsidiary, so long as such agreement was not entered into in
contemplation of such Person becoming a Subsidiary;

 

(xiii)        restrictions contained in any documents documenting Indebtedness permitted hereunder of any Subsidiary that is not a Subsidiary
Guarantor or required to become a Subsidiary Guarantor.

 

(d)          [Reserved].

 

(e)          In the case of any Loan Party, agree to, or incur, any Contractual Obligation which would prohibit such Loan Party from
providing, or continuing to provide, a Guarantee of the Obligations.

 

Section 6.10          [Reserved].

 

Section 6.11          Use
of Proceeds. The Borrower will not request any Loan, and the Borrower shall not use, and shall
procure that Holdings, its Subsidiaries and its or their respective directors, officers, employees and agents shall not use directly
or indirectly, the proceeds of any Loan (a) in furtherance of an offer, payment, promise to pay, or authorization of the
payment or giving of money, or anything else of value, to any Person in violation of any Anti-Corruption Laws or any Sanctions,
(b) for the purpose of funding, financing or facilitating any activities, business or transaction of or with any Sanctioned
Person, or in any Sanctioned Country, or (c)  in any manner that would result in the violation of any Sanctions applicable
to any party hereto.

 

Section 6.12         
Foreign Subsidiaries. Neither Holdings nor the Borrower shall form or acquire any Foreign Subsidiary.

 

Section 6.13         
Anti-Layering. The Loan Parties shall not, directly or indirectly, create, incur, assume, permit to exist or otherwise
become or remain liable with respect to any Indebtedness, (i) that is secured by Liens that are contractually subordinated to Liens
securing any ABL Loan Obligations or (ii) that is subordinated or junior in lien priority or right of payment to any portion of
the ABL Loan Obligations unless (a) the Liens securing such Indebtedness are also subordinated or (b) the Indebtedness is junior
in lien priority or right of payment, in each case, as applicable, in the same manner and to the same extent in all material respects,
as the Liens securing the Obligations are subordinated to the Liens securing the ABL Loan Obligations or the right of payment is
subordinated to the ABL Loan Obligations, as applicable.

 

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ARTICLE VII

Events of Default

 

Section 7.01         
Events of Default. In case of the happening of any of the following events (each,
an “Event of Default”):

 

(a)           any representation or warranty made or deemed made by any Loan Party in any Loan Document, or in any certificate or other
instrument required to be given by any Loan Party in writing furnished in connection with or pursuant to any Loan Document, shall
prove to have been false or misleading in any material respect when so made, deemed made pursuant to the terms of the Loan Documents
or so furnished by such Loan Party;

 

(b)          default shall be made in the payment of any principal or interest of any Loan or Prepayment Premium when and as the same
shall become due and payable, whether at the due date thereof or at a date fixed for prepayment thereof or by acceleration thereof
or otherwise;

 

(c)          default shall be made in the payment of any fee or any other amount (other than an amount referred to in paragraph (b)
above) due under any Loan Document, when and as the same shall become due and payable, and such default shall continue unremedied
for a period of three (3) Business Days;

 

(d)          default shall be made in the due observance or performance by Holdings, the Borrower or any of the Subsidiaries of any covenant,
condition or agreement contained in Sections 5.05(a), 5.07, 5.11, 5.12(c) or in Article VI;

 

(e)          default shall be made in the due observance or performance by Holdings, the Borrower or any of the Subsidiaries of any covenant,
condition or agreement contained in any Loan Document (other than those specified in paragraphs (b), (c) and
(d) above) and such default shall continue unremedied for a period of thirty (30) days after the earlier of (A)
written notice thereof from the Administrative Agent or the Required Lenders to the Borrower or (B) any Responsible Officer of
a Loan Party obtaining knowledge of such breach or default;

 

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(f)           (i) any event or condition occurs that (A) results in any Material Indebtedness (other than the ABL Loan Obligations)
becoming due prior to its scheduled maturity or (B) enables or permits (with all applicable grace periods having expired)
the holder or holders any Material Indebtedness (other than the ABL Loan Obligations) or any trustee or agent on its or their behalf
to cause any such Material Indebtedness (other than the ABL Obligations) to become due, or to require the prepayment, repurchase,
redemption or defeasance thereof, prior to its scheduled maturity or (ii) Holdings, the Borrower, or any of the Subsidiaries
shall fail to pay the principal of any Material Indebtedness (other than the ABL Loan Obligations) at the stated final maturity
thereof; provided that this paragraph (f) shall not apply to secured Indebtedness that becomes due as a result
of the voluntary sale or transfer of the property or assets securing such Indebtedness if such sale or transfer is permitted hereunder;
provided, further, that any such failure is unremedied and not waived by the holders of such Indebtedness prior to
the acceleration of the Loans pursuant to this Section 7.01;

 

(g)          there shall have occurred a Change in Control;

 

(h)          an involuntary proceeding shall be commenced or an involuntary petition shall be filed in a court of competent jurisdiction
seeking (i) relief in respect of Holdings, the Borrower or any such Subsidiary, or of a substantial part of the property or
assets of Holdings, the Borrower or any material Subsidiary, under the Bankruptcy Code, or any other federal, state or foreign
bankruptcy, insolvency, receivership or similar law, (ii) the appointment of a receiver, trustee, custodian, sequestrator,
conservator or similar official for Holdings, the Borrower or any such Subsidiary or for a substantial part of the property or
assets of Holdings, the Borrower or any such Subsidiary or (iii) the winding-up or liquidation of Holdings, the Borrower or
any such Subsidiary (except, in the case of any such Subsidiary, in a transaction permitted by Section 6.05); and such
proceeding or petition shall continue undismissed for sixty (60) days or an order or decree approving or ordering any
of the foregoing shall be entered;

 

(i)           Holdings, the Borrower or any Subsidiary, shall (i) voluntarily commence any proceeding or file any petition seeking
relief under the Bankruptcy Code, or any other federal, state or foreign bankruptcy, insolvency, receivership or similar law, (ii) consent
to the institution of, or fail to contest in a timely and appropriate manner, any proceeding or the filing of any petition described
in paragraph (h) above, (iii) apply for or consent to the appointment of a receiver, trustee, custodian, sequestrator,
conservator or similar official for Holdings, the Borrower or any such Subsidiary or for a substantial part of the property or
assets of Holdings, the Borrower or any such Subsidiary, (iv) file an answer admitting the material allegations of a petition
filed against it in any such proceeding, (v) make a general assignment for the benefit of creditors or (vi) become unable
or admit in writing its inability or fail generally to pay its debts as they become due;

 

(j)           the
failure by Holdings, the Borrower or any Subsidiary to pay one (1) or more final judgments aggregating in excess of $7.5 million
(to the extent not covered by third-party insurance as to which the insurer has been notified of such judgment and does not deny
coverage), which judgments are not discharged or effectively waived or stayed for a period of sixty (60) consecutive days,
or any action shall be legally taken by a judgment creditor to levy upon assets or properties of Holdings, the Borrower or any
Subsidiary to enforce any such judgment;

 

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(k)          (i) an ERISA Event and/or a Foreign Plan Event shall have occurred, (ii) a trustee shall be appointed by a United
States district court to administer any Plan(s) or (iii) any Loan Party or any ERISA Affiliate shall have been notified by
the sponsor of a Multiemployer Plan that it has incurred or will be assessed Withdrawal Liability to such Multiemployer Plan and
such Person does not have reasonable grounds for contesting such Withdrawal Liability or is not contesting such Withdrawal Liability
in a timely and appropriate manner; and in each case in clauses (i) through (iii) above, such event or
condition, together with all other such events or conditions, if any, could reasonably be expected to have a Material Adverse Effect;

 

(l)           (i) any Loan Document shall for any reason cease to be, or shall be asserted in writing by Holdings, the Borrower or
any Subsidiary not to be, a legal, valid and binding obligation of any party thereto, (ii) any security interest purported
to be created by any Security Document and to extend to assets that are not immaterial to Holdings, the Borrower and the Subsidiaries
on a consolidated basis shall cease to be, or shall be asserted in writing by Holdings, the Borrower or any other Loan Party not
to be (other than in a notice to the Administrative Agent to take requisite actions to perfect such Lien), a valid and perfected
security interest (perfected as and having the priority required by the Agreement or the relevant Security Document and subject
to such limitations and restrictions as are set forth herein and therein) in the securities, assets or properties covered thereby,
except to the extent (x) any such loss of perfection or priority results from the failure of the Administrative Agent to maintain
possession of certificates actually delivered to it representing securities pledged under the Collateral Agreement, (y) such
loss is covered by a lender’s title insurance policy as to which the insurer has been notified of such loss and does not
deny coverage and the Required Lenders shall be reasonably satisfied with the credit of such insurer or (z) such loss of perfected
security interest may be remedied by the filing of appropriate documentation without the loss of priority or (iii) the Guarantees
pursuant to the Security Documents by Holdings, the Borrower or the Subsidiary Guarantors of any of the Obligations shall cease
to be in full force and effect (other than in accordance with the terms thereof), or shall be asserted in writing by Holdings or
the Borrower or any Subsidiary Guarantor not to be in effect or not to be legal, valid and binding obligations;

 

(m)         except as otherwise expressly permitted hereunder, the Borrower and its Subsidiaries (taken as a whole) shall suspend the
operation of their business in the ordinary course at more than 60.0% of the Loan Parties’ stores for a period of more than
30 consecutive days (other than to the extent such suspension is a direct result of (i) the COVID-19 pandemic or governmental or
court orders issued in connection therewith; provided that, solely in the case of this clause (i), such suspension occurs prior
to the first anniversary of the Closing Date, or (ii) war, riot, civil insurrection, or natural disaster (e.g., tornadoes or earthquakes),
in each case, to the extent the consequences of such events or circumstances are not having a disproportionate impact on the Borrower
and its Subsidiaries (taken as a whole) when compared to other similarly situated companies), liquidate all or a material portion
of their assets or store locations, or employ an agent or other third party to conduct a program of closings, liquidations or “Going-Out-Of-Business”
sales of any material portion of their business;

 

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(n)          a material breach by the Borrower of any of its material obligations under the Plan of Reorganization or any material agreement
contemplated thereby, including with respect to its obligations to the holders of Allowed General Unsecured Claims, which breach
remains unremedied for a period of thirty (30) days; or

 

(o)          there shall occur and be continuing (i) an “Event of Default” in respect of any ABL Loan Obligations as a result
of non-payment of such ABL Obligations upon final scheduled maturity therefor or (ii) any “Event of Default” in respect
of any ABL Obligations and as a result thereof, the applicable holders of such ABL Loan Obligations have caused or declared all
or a material portion of such ABL Loan Obligations to become immediately due and payable; provided that this paragraph (o)
shall not apply to secured Indebtedness that becomes due as a result of the voluntary sale or transfer of the property or assets
securing such Indebtedness if such sale or transfer is permitted hereunder.

 

then, and in every such event (other than
an event with respect to Holdings or the Borrower described in paragraph (h) or (i) above), and at any time thereafter
during the continuance of such event, the Required Lenders may, upon notice to the Borrower (with a copy to the Administrative
Agent), declare the Loans then outstanding to be forthwith due and payable in whole or in part, whereupon the principal of the
Loans so declared to be due and payable, together with accrued interest thereon, any prepayment premium (including the Prepayment
Premium, if owed) and any unpaid accrued fees and all other liabilities of the Borrower accrued hereunder and under any other Loan
Document, shall become forthwith due and payable, without presentment, demand, protest or any other notice of any kind, all of
which are hereby expressly waived by the Borrower, anything contained herein or in any other Loan Document to the contrary notwithstanding;
and with respect to any event described in paragraph (h) or (i) above, the principal of the Loans then outstanding,
together with accrued interest thereon, any premiums (including the Prepayment Premium, if owed) and any unpaid accrued fees and
all other liabilities of the Borrower accrued hereunder and under any other Loan Document, shall automatically become due and payable,
anything contained herein or in any other Loan Document to the contrary notwithstanding.

 

Section 7.02         
Allocation. Notwithstanding anything herein to the contrary, upon the occurrence
and during the continuance of an Event of Default, monies to be applied to the Secured Obligations (including the Prepayment Premium,
if owed), whether arising from payments by the Loan Parties, realization on Collateral, setoff or otherwise, shall be allocated
as follows:

 

(a)           first, to payment of that portion of the Obligations constituting fees, indemnities, expenses (including extraordinary
expenses) and other amounts, owing to the Administrative Agent, in its capacity as such;

 

(b)           second, to payment of that portion of the Obligations constituting indemnities, expenses, and other amounts (other
than principal, interest and fees) payable to the Lenders, ratably among them in proportion to the amounts described in this clause
second payable to them;

 

(c)           third, to payment of that portion of the Obligations constituting accrued and unpaid interest on the Loans, other
Obligations, and fees and any premiums (including the Prepayment Premium, if owed), ratably among the Lenders in proportion to
the respective amounts described in this clause third payable to them;

 

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(d)           fourth, to payment of that portion of the Obligations constituting unpaid principal of the Loans, ratably among the
Lenders in proportion to the respective amounts described in this clause fourth held by them; and

 

(e)           last, the balance, if any, after all of the Obligations have been paid in full, to the Loan Parties or as otherwise
required by Applicable Law.

 

Amounts shall be applied
to each category of Secured Obligations set forth above until such Secured Obligations (including the Prepayment Premium, if owed)
are paid in full or cash collateralized, as applicable and then to the next category. If amounts are insufficient to satisfy a
category, they shall be applied on a pro rata basis among the Secured Obligations (including the Prepayment Premium, if owed)
in the category.

 

ARTICLE VIII

The Administrative Agent

 

Section 8.01         
Appointment, Authority and Duties of the Administrative Agent.

 

(a)           Appointment and Authority. Each Secured Party hereby irrevocably appoints and designates Alter Domus (US) LLC as
the Administrative Agent under all Loan Documents and Alter Domus (US) LLC hereby accepts such appointments. The Administrative
Agent may, and each Secured Party authorizes the Administrative Agent to, enter into all Loan Documents to which the Administrative
Agent is intended to be a party and accept all Security Documents, for the benefit of Secured Parties. Each Secured Party agrees
that any action taken by the Administrative Agent or Required Lenders in accordance with the provisions of the Loan Documents,
and the exercise by the Administrative Agent or Required Lenders of any rights or remedies set forth therein, together with all
other powers reasonably incidental thereto, shall be authorized by and binding upon all Secured Parties. Without limiting the generality
of the foregoing, the Administrative Agent shall have the sole and exclusive authority to (i) act as the disbursing and collecting
agent for the Lenders with respect to all payments and collections arising in connection with the Loan Documents; (ii) execute
and deliver as the Administrative Agent each Loan Document, including any intercreditor or subordination agreement, and accept
delivery of each Loan Document from any Loan Party or other Person; (iii) act as collateral agent for Secured Parties for purposes
of perfecting and administering Liens under the Loan Documents, and for all other purposes stated therein; (iv) manage, supervise
or otherwise deal with Collateral; and (v) take any Enforcement Action or otherwise exercise any rights or remedies with respect
to any Collateral under the Loan Documents, Applicable Law or otherwise. No Secured Party shall have any right individually to
take any Enforcement Action or otherwise exercise any rights or remedies with respect to any Collateral under the Loan Documents,
Applicable Law or otherwise. The duties of the Administrative Agent shall be ministerial and administrative in nature, and the
Administrative Agent shall not have a fiduciary relationship with any Secured Party, Participant or other Person, by reason of
any Loan Document or any transaction relating thereto.

 

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(b)              
Duties. The Administrative Agent shall not have any duties except those expressly set forth herein and in the other
Loan Documents. The conferral upon the Administrative Agent of any right shall not imply a duty to exercise such right, unless
instructed to do so by Required Lenders in accordance with this Agreement.

 

(c)              
Agent Professionals. The Administrative Agent may perform its duties through agents and employees. The Administrative
Agent may consult with and employ Agent Professionals, and shall be entitled to act upon, and shall be fully protected in any action
taken in good faith reliance upon, any advice given by an Agent Professional.

 

(d)              
Instructions of Required Lenders. The rights and remedies conferred upon the Administrative Agent under the Loan
Documents may be exercised without the necessity of joinder of any other party, unless required by Applicable Law. The Administrative
Agent may request instructions from Required Lenders or other Secured Parties with respect to any act (including the failure to
act) in connection with any Loan Documents, and may seek assurances to its satisfaction from Secured Parties of their indemnification
obligations against all Claims that could be incurred by the Administrative Agent in connection with any act or failure to act.
The Administrative Agent shall be fully justified in failing or refusing to take any action under this Agreement or any other Loan
Document unless it shall first receive such advice or concurrence of the Required Lenders (or such other number or percentage of
Lenders as shall be provided for herein or in the other Loan Documents) as it deems appropriate or it shall first be indemnified
to its satisfaction by the Lenders against any and all liability and expense that may be incurred by it by reason of taking or
continuing to take any such action. The Administrative Agent shall not be liable for any action taken or not taken by it (i) with
the consent or at the request of the Required Lenders (or such other number or percentage of the Lenders as shall be necessary,
or as the Administrative Agent shall believe in good faith shall be necessary, under the circumstances as provided in Sections
7.01 and 9.08), or (ii) in the absence of its own gross negligence or willful misconduct as determined by a court of
competent jurisdiction by final and nonappealable judgment. Instructions of Required Lenders shall be binding upon all Secured
Parties, and no Secured Party shall have any right of action whatsoever against the Administrative Agent as a result of the Administrative
Agent acting or refraining from acting in accordance with the instructions of Required Lenders. Notwithstanding the foregoing,
instructions by and consent of specific Lenders or Secured Parties shall be required to the extent provided in Section 9.08(b).
In no event shall the Administrative Agent be required to take any action that, in its opinion or the in the opinion of its counsel,
is contrary to Applicable Law or any Loan Documents or could subject any Agent Indemnitee to personal liability.

 

Section 8.02       
Agreements Regarding Collateral and Field Examination Reports.

 

(a)              
Possession of Collateral. The Administrative Agent and Secured Parties appoint each Lender as agent (for the benefit
of Secured Parties) for the purpose of perfecting Liens in any Collateral held or controlled by such Lender, to the extent such
Liens are perfected by possession or control. If any Lender obtains possession or control of any Collateral, it shall notify the
Administrative Agent thereof and, promptly upon the Administrative Agent’s request, deliver such Collateral to the Administrative
Agent or otherwise deal with it in accordance with the Administrative Agent’s instructions.

 

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(b)              
Reports. Each Lender hereby agrees that (i) it has requested a copy of each Report prepared on behalf of the Administrative
Agent (at the direction of the Required Lenders); (ii) the Administrative Agent (A) makes no representation or warranty, express
or implied, as to the completeness or accuracy of any Report or any of the information contained therein or any inaccuracy or omission
contained in or relating to a Report and (B) shall not be liable for any information contained in any Report; (iii) the Reports
are not comprehensive audits or examinations, and that any Person performing any field examination will inspect only specific information
regarding the Loan Parties and will rely significantly upon the Loan Parties’ books and records, as well as on representations
of the Loan Parties’ personnel and that the Administrative Agent undertakes no obligation to review, update, correct or supplement
the Reports; (iv) it will keep all Reports confidential and strictly for its internal use, not share the Report with any Loan Party
or any other Person except as otherwise permitted pursuant to this Agreement; and (v) without limiting the generality of any other
indemnification provision contained in this Agreement, (A) it will hold the Administrative Agent and any Person preparing a Report
harmless from any action the indemnifying Lender may take or conclusion the indemnifying Lender may reach or draw from any Report
in connection with any extension of credit that the indemnifying Lender has made or may make to the Borrower, or the indemnifying
Lender’s participation in, or the indemnifying Lender’s purchase of, a Loan or Loans; and (B) it will pay and protect,
and indemnify, defend, and hold the Administrative Agent and any Person preparing a Report harmless from and against, the claims,
actions, proceedings, damages, costs, expenses, and other amounts (including reasonable attorneys’ fees) incurred by the
Administrative Agent or any such other Person as the direct or indirect result of any third parties who might obtain all or part
of any Report through the indemnifying Lender.

 

Section 8.03       
Reliance By the Administrative Agent. The Administrative Agent shall be entitled
to rely, and shall not incur any liability in relying, upon any certification, notice or other communication (including those by
telephone, telex, telegram, telecopy or e-mail) believed by it to be genuine and correct and to have been signed, sent or made
by the proper Person, and upon the advice and statements of Agent Professionals. The Administrative Agent shall have a reasonable
and practicable amount of time to act upon any instruction, notice or other communication under any Loan Document, and shall not
be liable for any such delay in acting. In determining compliance with any condition hereunder to the making of a Loan that
by its terms must be fulfilled to the satisfaction of a Lender, the Administrative Agent may presume that such condition is satisfactory
to such Lender unless the Administrative Agent shall have received notice to the contrary from such Lender prior to the making
of such Loan. The Administrative Agent may consult with legal counsel (who may be counsel for any of the Loan Parties), independent
accountants and other experts selected by it, and shall not be liable for any action taken or not taken by it in accordance with
the advice of any such counsel, accountants or experts. The Administrative Agent may deem and treat the payee of any Note as the
owner thereof for all purposes unless a written notice of assignment, negotiation or transfer thereof shall have been filed with
the Administrative Agent.

 

Section 8.04       
Action Upon Default. The Administrative Agent shall not be deemed to have knowledge
of any Default or Event of Default, or of any failure to satisfy any conditions in Article IV, unless it has received
written notice, conspicuously marked as a “notice of default”, from the Borrower or Required Lenders specifying the
occurrence and nature thereof. If any Lender acquires knowledge of a Default, Event of Default or failure of such conditions, it
shall promptly notify the Administrative Agent and the other Lenders thereof in writing. Each Secured Party agrees that it will
not take any Enforcement Action, accelerate Obligations, or exercise any right that it might otherwise have under Applicable Law
to credit bid at foreclosure sales, UCC sales or other similar dispositions of Collateral or to assert any rights relating to any
Collateral.

 

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Section 8.05       
Delegation of Duties. The Administrative Agent may perform any and all of
its duties and exercise its rights and powers hereunder or under any other Loan Document by or through any one or more sub-agents
appointed by the Administrative Agent. The Administrative Agent and any such sub-agent may perform any and all of its duties and
exercise its rights and powers by or through their respective Related Parties. The exculpatory provisions of this Section shall
apply to any such sub-agent and to the Related Parties of the Administrative Agent and any such sub-agent, and shall apply to their
respective activities in connection with the the facilities provided for herein as well as activities as the Administrative Agent.
The Administrative Agent shall not be responsible for the negligence or misconduct of any sub-agents except to the extent that
a court of competent jurisdiction determines in a final and nonappealable judgment that the Administrative Agent acted with gross
negligence or willful misconduct in the selection of such sub agents.

 

Section 8.06       
Limitation on Responsibilities of the Administrative Agent. The Administrative
Agent shall be deemed not to have knowledge of any (i) notice of any of the events or circumstances set forth or described in Section
5.05 unless and until written notice thereof stating that it is a “notice under Section 5.05” in respect of this
Agreement and identifying the specific clause under said Section is given to the Administrative Agent by the Borrower, or (ii)
notice of any Default or Event of Default unless and until written notice thereof (stating that it is a “notice of Default”
or a “notice of an Event of Default”) is given to the Administrative Agent by the Borrower or a Lender. Further, the
Administrative Agent shall not be responsible for or have any duty to ascertain or inquire into (i) any statement, warranty or
representation made in or in connection with any Loan Document, (ii) the contents of any certificate, report, Report or other document
delivered thereunder or in connection therewith, (iii) the performance or observance of any of the covenants, agreements or other
terms or conditions set forth in any Loan Document or the occurrence of any Default or Event of Default, (iv) the sufficiency,
validity, enforceability, effectiveness or genuineness of any Loan Document or any other agreement, instrument or document (including,
for the avoidance of doubt, in connection with the Administrative Agent’s reliance on any Electronic Signature transmitted
by facsimile, emailed pdf. or any other electronic means that reproduces an image of an actual executed signature page), (v) the
satisfaction of any condition set forth in Article IV or elsewhere in any Loan Document, other than to confirm receipt of
items (which on their face purport to be such items) expressly required to be delivered to the Administrative Agent or satisfaction
of any condition that expressly refers to the matters described therein being acceptable or satisfactory to the Administrative
Agent, or (vi) the creation, perfection or priority of Liens on the Collateral. Except as
expressly set forth herein and in the other Loan Documents, the Administrative Agent shall not have any duty to disclose, and the
Administrative Agent shall not be liable for the failure to disclose, any information relating to the Borrower or any Loan Party
that is communicated to or obtained by any Person serving as the Administrative Agent or any of its Affiliates in any capacity.

 

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Section 8.07       
Successor Administrative Agent and Co-Collateral Agents.

 

(a)              
Resignation; Successor Administrative Agent. Subject to the appointment and acceptance of a successor Administrative
Agent as provided below, the Administrative Agent may resign at any time by giving at least 30 days’ written notice
thereof to Lenders and the Borrower or the Administrative Agent may be replaced as Administrative Agent by the Lenders at the direction
of the Required Lenders upon five (5) Business Days’ (or such shorter time period as agreed to by the Required Lenders and
the Administrative Agent) prior written notice to the Administrative Agent, the other Lenders and Borrower. Upon receipt of such
notice, Required Lenders shall have the right, in consultation with the Borrower, to appoint a successor Administrative Agent which
shall be (i) (A) a Lender or an Affiliate of a Lender; (B) a commercial bank, financial institution or a trust company
that is organized under the laws of the United States or any state or district thereof, has a combined capital surplus of at least
$1,000,000,000; or (C) a professional agent and (ii) provided that no Event of Default exists under Sections 7.01(b),
7.01(h), 7.01(i) (with respect to the Borrower only) and 7.01(o), subject to the approval of the Borrower
(not to be unreasonably withheld, conditioned or delayed). If no successor agent is appointed prior to the date that is 30 days
from the effective date of the resignation of the Administrative Agent, then the Administrative Agent may appoint a successor agent
from among the Lenders or, if no Lender accepts such role, the Administrative Agent may appoint Required Lenders as successor Administrative
Agent. Whether or not a successor has been appointed, such resignation shall nevertheless become effective on the 30th day from
the effective date of the resignation of the Administrative Agent. Upon acceptance by a successor Administrative Agent of an appointment
to serve as the Administrative Agent hereunder, or upon appointment of Required Lenders as successor Administrative Agent, such
successor Administrative Agent shall thereupon succeed to and become vested with all the powers and duties of the retiring Administrative
Agent without further act, and the retiring Administrative Agent shall be discharged from its duties and obligations hereunder.
Notwithstanding any Administrative Agent’s resignation or replacement, the provisions of this Article VIII, Section
5.07(c) and Section 9.05 shall continue in effect for its benefit with respect to any actions taken or omitted to be
taken by it while the Administrative Agent. Any successor to Alter Domus (US) LLC by merger or acquisition of stock or this loan
shall continue to be the Administrative Agent hereunder without further act on the part of the parties hereto, unless such successor
resigns as provided above.

 

(b)              
Separate Collateral Administrative Agent. It is the intent of the parties that there shall be no violation of any
Applicable Law denying or restricting the right of financial institutions to transact business in any jurisdiction. If the Administrative
Agent believes that it may be limited in the exercise of any rights or remedies under the Loan Documents due to any Applicable
Law, the Administrative Agent may appoint, subject to the approval of the Borrower (such approval not to be unreasonably withheld
or delayed), an additional Person who is not so limited, as a separate collateral agent or co-collateral agent. If the Administrative
Agent so appoints a collateral agent or co-collateral agent, each right and remedy intended to be available to the Administrative
Agent under the Loan Documents shall also be vested in such separate agent. The parties acknowledge that the ABL Administrative
Agent may be acting as collateral agent for the Administrative Agent and the Lenders with respect to ABL Priority Collateral and,
to such extent, the Administrative Agent hereby appoints the ABL Administrative Agent to act in such capacity. Secured Parties
shall execute and deliver such documents as the Administrative Agent deems appropriate to vest any rights or remedies in such agent.
If any collateral agent or co-collateral agent shall die or dissolve, become incapable of acting, resign or be removed, then all
the rights and remedies of such agent, to the extent permitted by Applicable Law, shall vest in and be exercised by the Administrative
Agent until appointment of a new agent.

 

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Section 8.08       
Acknowledgements of Lenders. 

 

(a)              
Each Lender represents and warrants that (i) the Loan Documents set forth the terms of a commercial lending facility, (ii)
it is engaged in making, acquiring or holding commercial loans and in providing other facilities set forth herein as may be applicable
to such Lender, in each case in the ordinary course of business, and not for the purpose of purchasing, acquiring or holding any
other type of financial instrument (and each Lender agrees not to assert a claim in contravention of the foregoing), (iii) it has,
independently and without reliance upon the Administrative Agent or any other Lender, or any of the Related Parties of any of the
foregoing, and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision
to enter into this Agreement as a Lender, and to make, acquire or hold Loans hereunder and (iv) it is sophisticated with respect
to decisions to make, acquire and/or hold commercial loans and to provide other facilities set forth herein, as may be applicable
to such Lender, and either it, or the Person exercising discretion in making its decision to make, acquire and/or hold such commercial
loans or to provide such other facilities, is experienced in making, acquiring or holding such commercial loans or providing such
other facilities. Each Lender also acknowledges that it will, independently and without reliance upon the Administrative Agent
or any other Lender, or any of the Related Parties of any of the foregoing, and based on such documents and information (which
may contain material, non-public information within the meaning of the United States securities laws concerning the Borrower and
its Affiliates) as it shall from time to time deem appropriate, continue to make its own decisions in taking or not taking action
under or based upon this Agreement, any other Loan Document or any related agreement or any document furnished hereunder or thereunder.

 

(b)              
Each Lender, by delivering its signature page to this Agreement on the Closing Date, or delivering its signature page to
an Assignment and Acceptance or any other Loan Document pursuant to which it shall become a Lender hereunder, shall be deemed to
have acknowledged receipt of, and consented to and approved, each Loan Document and each other document required to be delivered
to, or be approved by or satisfactory to, the Administrative Agent or the Lenders on the Closing Date or the effective date of
any such Assignment and Acceptance or any other Loan Document pursuant to which it shall have become a Lender hereunder.

 

Section 8.09       
Remittance of Payments and Collections.

 

(a)              
Remittances Generally. All payments by any Lender to the Administrative Agent shall be made by the time and on the
day set forth in this Agreement, in immediately available funds. If no time for payment is specified, payment shall be made by
Lender not later than 2:00 p.m. (Local Time) on such day. Payment by the Administrative Agent to any Secured Party shall be
made by wire transfer, in the type of funds received by the Administrative Agent. Any such payment shall be subject to the Administrative
Agent’s right of offset for any amounts due from such payee under the Loan Documents.

 

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(b)              
Failure to Pay. If any Secured Party fails to pay any amount when due by it to the Administrative Agent pursuant
to the terms hereof, such amount shall bear interest from the due date until paid at the rate determined by the Administrative
Agent as customary in the banking industry for interbank compensation. In no event shall Borrower be entitled to receive credit
for any interest paid by a Secured Party to the Administrative Agent, nor shall any Defaulting Lender be entitled to interest on
any amounts held by the Administrative Agent pursuant to Section 2.21.

 

(c)              
Recovery of Payments. If the Administrative Agent pays any amount to a Secured Party in the expectation that a related
payment will be received by the Administrative Agent from a Loan Party and such related payment is not received, then the Administrative
Agent may recover such amount from each Secured Party that received it. If the Administrative Agent determines at any time that
an amount received under any Loan Document must be returned to a Loan Party or paid to any other Person pursuant to Applicable
Law or otherwise, then, notwithstanding any other term of any Loan Document, the Administrative Agent shall not be required to
distribute such amount to any Lender. If any amounts received and applied by the Administrative Agent to any Secured Obligations
are later required to be returned by the Administrative Agent pursuant to Applicable Law, each Lender shall pay to the Administrative
Agent, on demand, such Lender’s Pro Rata share of the amounts required to be returned.

 

Section 8.10       
[Reserved]. 

 

Section 8.11       
[Reserved]. 

 

Section 8.12       
[Reserved]. 

 

Section 8.13       
Survival. This Article VIII shall survive Payment in Full of the Obligations
(including the Prepayment Premium, if owed). Other than Sections 8.01, 8.04 and 8.07, this Article VIII
does not confer any rights or benefits upon Borrower or any other Person. As between Borrower and Administrative Agent, any action
that Administrative Agent may take under any Loan Documents or with respect to any Obligations shall be conclusively presumed to
have been authorized and directed by Secured Parties.

 

Section 8.14       
Withholding Tax. To the extent required by any Applicable Law, the Administrative
Agent may withhold from any payment to any Lender an amount equivalent to any applicable withholding Tax. Without limiting or expanding
the provisions of Section 2.17, each Lender shall indemnify and hold harmless the Administrative Agent against, within
10 days after written demand therefor, any and all Taxes and any and all related losses, claims, liabilities and expenses
(including fees, charges and disbursements of any counsel Administrative Agent) incurred by or asserted against the Administrative
Agent by the IRS or any other Governmental Authority as a result of the failure of the Administrative Agent to properly withhold
Tax from amounts paid to or for the account of any Lender for any reason (including, without limitation, because the appropriate
form was not delivered or not properly executed, or because such Lender failed to notify the Administrative Agent of a change in
circumstance that rendered the exemption from, or reduction of withholding Tax ineffective). A certificate as to the amount of
such payment or liability delivered to any Lender by the Administrative Agent shall be conclusive absent manifest error. Each Lender
hereby authorizes the Administrative Agent to set off and apply any and all amounts at any time owing to such Lender under this
Agreement or any other Loan Document against any amount due the Administrative Agent under this Section 8.14. The agreements
in this Section 8.14 shall survive the resignation and/or replacement of the Administrative Agent, any assignment of
rights by, or the replacement of, a Lender, the termination of the Commitments and the repayment, satisfaction or discharge of
all other Obligations (including the Prepayment Premium, if owed). 

 

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Section 8.15       
Indemnification. 

 

(a)              
The Lenders agree to indemnify and hold harmless the Administrative Agent in its capacity as such (to the extent not reimbursed
by Holdings or the Borrower and without limiting the obligation of Holdings or the Borrower to do so), each in an amount equal
to its pro rata share (based on the respective principal amounts of its applicable outstanding Loans; provided, that if all
Loans have been Paid in Full, then each Lender’s pro rata share shall be determined as of the date immediately preceding
the date that the Loans were Paid in Full) thereof, from and against any and all liabilities, obligations, losses, damages, penalties,
actions, judgments, suits, costs, expenses or disbursements of any kind whatsoever that may at any time (whether before or after
the payment of the Loans) be imposed on, incurred by or asserted against the Administrative Agent in any way relating to or arising
out of, the Loans, this Agreement, any of the other Loan Documents or any documents contemplated by or referred to herein or therein
or the transactions contemplated hereby or thereby or any action taken or omitted by the Administrative Agent under or in connection
with any of the foregoing; provided that no Lender shall be liable for the payment of any portion of such liabilities, obligations,
losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements that are found by a final and nonappealable
decision of a court of competent jurisdiction to have resulted from the Administrative Agent’s gross negligence or willful
misconduct; provided, however, that no action taken or omitted from being taken by the Administrative Agent at the direction of
the Required Lenders shall constitute gross negligence or willful misconduct. The agreements in this Section 8.15 shall
survive the Payment in Full of the Loans and all other amounts payable hereunder and the termination of this Agreement.

 

(b)              
To the extent that the Borrower is unable to pay, due to the limitations in the Intercreditor Agreement on Permitted Term
Loan Obligation Payments (as defined in the Intercreditor Agreement), the fees owed to the Administrative Agent in accordance with
the Administrative Agent Fee Letter and Section 2.07 hereof, the Lenders hereby agree to pay to the Administrative Agent, ratably,
in accordance with each Lender’s pro rata share (based on the respective principal amounts of its applicable outstanding
Loans), within ten (10) days of demand therefor, all amounts owed to the Administrative Agent in the Administrative Agent Fee Letter.
Amounts paid by the Lenders this sub-section (b) constitute Obligations. Nothing in this sub-section (b) shall prevent the Lenders
from seeking reimbursement in the next succeeding calendar year from the Borrower under Section 9.04(a) hereof for, and
Borrower hereby agrees to reimburse Lenders for, the payment of such Administrative Agent’s fee.

 

Section 8.16       
Certain ERISA Matters.

 

(a)              
Each Lender (x) represents and warrants, as of the date such Person became a Lender party hereto, to, and (y) covenants,
from the date such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for the benefit
of, the Administrative Agent and not, for the avoidance of doubt, to or for the benefit of the Borrower or any other Loan Party,
that at least one of the following is and will be true:

 

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(i)              such
Lender is not using “plan assets” (within the meaning of the Plan Asset Regulations) of one or more Benefit Plans
with respect to such Lender’s entrance into, participation in, administration of and performance of the Loans or this Agreement,

 

(ii)             the
transaction exemption set forth in one or more PTEs, such as PTE 84-14 (a class exemption for certain transactions determined
by independent qualified professional asset managers), PTE 95-60 (a class exemption for certain transactions involving insurance
company general accounts), PTE 90-1 (a class exemption for certain transactions involving insurance company pooled separate accounts),
PTE 91-38 (a class exemption for certain transactions involving bank collective investment funds) or PTE 96-23 (a class exemption
for certain transactions determined by in-house asset managers), is applicable with respect to such Lender’s entrance into,
participation in, administration of and performance of the Loans and this Agreement,

 

(iii)           
(A) such Lender is an investment fund managed by a “Qualified Professional Asset Manager” (within the meaning
of Part VI of PTE 84-14), (B) such Qualified Professional Asset Manager made the investment decision on behalf of such Lender
to enter into, participate in, administer and perform the Loans and this Agreement, (C) the entrance into, participation in,
administration of and performance of the Loans and this Agreement satisfies the requirements of sub-sections (b) through (g) of
Part I of PTE 84-14 and (D) to the best knowledge of such Lender, the requirements of subsection (a) of Part I of PTE 84-14
are satisfied with respect to such Lender’s entrance into, participation in, administration of and performance of the Loans
and this Agreement, or

 

(iv)            such
other representation, warranty and covenant as may be agreed in writing between the Administrative Agent, in its sole discretion,
and such Lender.

 

(b)              
In addition, unless either (1) sub-clause (i) in the immediately preceding clause (a) is true with respect
to a Lender or (2) a Lender has provided another representation, warranty and covenant in accordance with sub-clause (iv)
in the immediately preceding clause (a), such Lender further (x) represents and warrants, as of the date such Person
became a Lender party hereto, to, and (y) covenants, from the date such Person became a Lender party hereto to the date such
Person ceases being a Lender party hereto, for the benefit of, the Administrative Agent and not, for the avoidance of doubt, to
or for the benefit of the Borrower or any other Loan Party, that the Administrative Agent is not a fiduciary with respect to the
assets of such Lender involved in such Lender’s entrance into, participation in, administration of and performance of the
Loans and this Agreement (including in connection with the reservation or exercise of any rights by the Administrative Agent under
this Agreement, any Loan Document or any documents related hereto or thereto).

 

Section 8.17       
Flood Insurance Laws. Pursuant to the Flood Insurance Laws, each federally regulated Lender (whether acting as a
Lender or Participant in the facility) is responsible for assuring its own compliance with the flood insurance requirements.

 

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ARTICLE IX

Miscellaneous

 

Section 9.01       
Notices.

 

(a)              
Except in the case of notices and other communications expressly permitted to be given by telephone or Electronic Systems
(and subject in each case to paragraph (b) below), notices and other communications provided for herein shall be in writing
and shall be delivered by hand or overnight courier service, mailed by certified or registered mail or sent by fax or other electronic
transmission, (including by “.pdf” or “.tif”) pursuant to the terms of this Agreement, as set forth on
Schedule 9.01.

 

(b)              
Notices and other communications to the Borrower, any Loan Party and the Lenders hereunder may be delivered or furnished
by Electronic Systems or other electronic communications pursuant to procedures approved by the Administrative Agent; provided
that the foregoing shall not apply to notices pursuant to Article II unless otherwise agreed by the Administrative
Agent and the applicable Lender. Each of the Administrative Agent and the Borrower may, in its discretion, agree to accept notices
and other communications to it hereunder by Electronic Systems or other electronic communications pursuant to procedures approved
by it; provided, further, that approval of such procedures may be limited to particular notices or communications.

 

(c)              
All notices and other communications given to any party hereto in accordance with the provisions of this Agreement shall
be deemed to have been given on the date of receipt if delivered by hand or overnight courier service, sent by fax or (to the extent
permitted by paragraph (b) above) electronic means or on the date five (5) Business Days after dispatch by certified
or registered mail if mailed, in each case delivered, sent or mailed (properly addressed) to such party as provided in this Section 9.01
or in accordance with the latest unrevoked direction from such party given in accordance with this Section 9.01.

 

(d)              
Any party hereto may change its address or fax number for notices and other communications hereunder by notice to the other
parties hereto.

 

Section 9.02       
Survival of Agreement. All representations and warranties made by the Loan Parties
herein and in the other Loan Documents shall be considered to have been relied upon by the Lenders and shall survive the making
of the Loans and the execution and delivery of the Loan Documents, and shall continue in full force and effect until the Maturity
Date. Without prejudice to the survival of any other agreements contained herein, obligations for taxes, costs, indemnifications,
reimbursements, damages and other contingent liabilities contained herein (including pursuant to Sections 2.15, 2.17
and 9.05) shall survive the payment in full of the principal and interest hereunder, and the termination of the Commitments
or this Agreement, limited in the manner set forth herein.

 

Section 9.03       
Binding Effect; Effectiveness. Except as provided
in Section 4.01, this Agreement shall become effective when it shall have been executed by Holdings, the Borrower and the
Administrative Agent and when the Administrative Agent shall have received copies hereof which, when taken together, bear the signatures
of each of the other parties hereto, and thereafter shall be binding upon and inure to the benefit of Holdings, the Borrower, the
Administrative Agent and each Lender and their respective permitted successors and assigns.

 

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Section 9.04       
Successors and Assigns.

 

(a)              
The provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective
successors and assigns permitted hereby, except that (i) except as otherwise permitted by Section 6.05 the Borrower
may not assign or otherwise transfer any of its rights or obligations hereunder without the prior written consent of each Lender
(and any attempted assignment or transfer by the Borrower without such consent shall be null and void) and (ii) no Lender
may assign or otherwise transfer its rights or obligations hereunder except in accordance with this Section 9.04. Nothing
in this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the parties hereto, their respective
successors and assigns permitted hereby, Participants (to the extent provided in paragraph (c) of this Section 9.04),
and, to the extent expressly contemplated hereby, the Related Parties of each of the Administrative Agent and the Lenders) any
legal or equitable right, remedy or claim under or by reason of this Agreement.

 

(b)              
Subject to the conditions set forth in clause (c) below, any Lender may assign to one (1) or more Eligible Assignees
(other than to any natural person) all or a portion of its rights and obligations under this Agreement (including all or a portion
of its Commitments and the Loans at the time owing to it) (provided, however, that pro rata assignments shall
not be required and each assignment shall be of a uniform, and not varying, percentage of all rights and obligations under and
in respect of any applicable Loan) with the prior written consent (such consent not to be unreasonably withheld or delayed) of:

 

(i)                the
Borrower, provided that no consent of the Borrower shall be required (i) if an Event of Default has occurred
and is continuing and (ii) if such assignment is to a Lender, an Affiliate of a Lender or a Related Fund in respect of a
Lender; and

 

(ii)             
  [reserved].

 

(c)              
Assignments shall be subject to the following additional conditions:

 

(i)                except
in the case of an assignment to a Lender, an affiliate of a Lender or Related Fund or an assignment of the entire remaining amount
of the assigning Lender’s Commitments or Loans, the amount of the Commitments or Loans of the assigning Lender subject to
each such assignment (determined as of the date the Assignment and Acceptance with respect to such assignment is delivered to
the Borrower) shall not be less than $1.0 million, unless each of the Borrower and the Required Lenders otherwise consent,
provided that such amounts shall be aggregated in respect of each Lender and its Affiliates or Related Funds, if any;

 

(ii)              
the parties to each assignment shall execute and deliver to the Administrative Agent an Assignment and Acceptance, together
with a processing and recordation fee of $3,500; provided that the Administrative Agent may, in its sole discretion, elect
to waive such processing and recordation fee in the case of any assignment.; and

 

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 (iii)           
the Eligible Assignee, if it shall not be a Lender, shall deliver to the Administrative Agent an Administrative Questionnaire,
all applicable tax forms required to be delivered by a Lender pursuant to Section 2.17(e) and all “know your customer”
documentation requested by the Administrative Agent.

 

(d)          
Upon the acceptance and recording thereof pursuant to clause (f) below and subject to clause (k) below,
Assignment and Acceptance the Eligible Assignee thereunder shall be a party hereto and, to the extent of the interest assigned
by such Assignment and Acceptance, have the rights and obligations of a Lender under this Agreement, and the assigning Lender thereunder
shall, to the extent of the interest assigned by such Assignment and Acceptance, be released from its obligations under this Agreement
(and, in the case of an Assignment and Acceptance covering all of the assigning Lender’s rights and obligations under this
Agreement, such Lender shall cease to be a party hereto but shall continue to be entitled to the benefits of Sections 2.15,
2.16, 2.17 and 9.05 as well as any fees accrued for its account and not yet paid). Any assignment or transfer
by a Lender of rights or obligations under this Agreement that does not comply with this Section 9.04 shall be treated
for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with clause (g)
of this Section 9.04.

 

(e)          
The Administrative Agent, acting for this purpose as a non-fiduciary agent of the Borrower, shall maintain at one of its
offices a copy of each Assignment and Acceptance delivered to it and a register for the recordation of the names and addresses
of the Lenders, and the Commitments of, and principal amount (and stated interest) of the Loans owing to, each Lender pursuant
to the terms hereof from time to time (the “Register”). The entries in the Register shall be conclusive absent
manifest error, and the Borrower, the Administrative Agent and the Lenders may treat each Person whose name is recorded in the
Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement, notwithstanding notice to the contrary.
The Register shall be available for inspection by the Borrower and any Lender (with respect to any entry related to such Lender’s
Loans), at any reasonable time and from time to time upon reasonable prior written notice. The parties hereto agree and intend
that the Obligations shall be treated as being in “registered form” for the purposes of the Code (including Code Sections
163(f), 871(h)(2), 881(c)(2), and 4701), and the Register shall be maintained in accordance with such intention.

 

(f)           
Upon its receipt of a duly completed Assignment and Acceptance executed by an assigning Lender and an Eligible Assignee,
the Eligible Assignee’s completed Administrative Questionnaire (unless the Eligible Assignee shall already be a Lender hereunder),
the processing and recordation fee referred to in clause (c)(ii) above and any applicable tax forms required pursuant to
Section 2.17(e), and any written consent to such assignment required by clause (b) above, the Administrative
Agent shall accept such Assignment and Acceptance and record the information contained therein in the Register. No assignment,
whether or not evidenced by a promissory note, shall be effective for purposes of this Agreement unless it has been recorded in
the Register as provided in this clause (f).

 

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(g)          
Any Lender may, without the consent of, or notice to, the Borrower or the Administrative Agent, sell participations to one
(1) or more banks or other entities (a “Participant”) in all or a portion of such Lender’s rights and
obligations under this Agreement (including all or a portion of its Commitments and the Loans owing to it); provided that
(A) such Lender’s obligations under this Agreement shall remain unchanged, (B) such Lender shall remain solely
responsible to the other parties hereto for the performance of such obligations and (C) the Borrower, the Administrative Agent
and the other Lenders shall continue to deal solely and directly with such Lender in connection with such Lender’s rights
and obligations under this Agreement. Any agreement pursuant to which a Lender sells such a participation shall provide that such
Lender shall retain the sole right to enforce this Agreement and the other Loan Documents and to approve any amendment, modification
or waiver of any provision of this Agreement and the other Loan Documents; provided that such agreement may provide that
such Lender will not, without the consent of the Participant, agree to any amendment, modification or waiver that requires the
consent of each Lender directly affected thereby pursuant to Section 9.04(a)(i) or clauses (i) through
(vi) of the first proviso to Section 9.08(b). Subject to paragraph (h) of this Section 9.04,
the Borrower agrees that each Participant shall be entitled to the benefits of Sections 2.15, 2.16 and 2.17
(subject to the requirements and limitations with respect thereto) to the same extent as if it were a Lender and had acquired its
interest by assignment pursuant to paragraph (b) of this Section 9.04. To the extent permitted by law,
each Participant also shall be entitled to the benefits of Section 9.06 as though it were a Lender, provided
such Participant shall be subject to Section 2.18(c) as though it were a Lender. Each Lender that sells a participation
shall, acting solely for this purpose as a non-fiduciary agent of the Borrower, maintain a register on which it enters the name
and address of each Participant and the principal amounts (and stated interest) of each Participant’s interest in the Loans
or other obligations under the Loan Documents (the “Participant Register”); provided that no Lender shall
have any obligation to disclose all or any portion of the Participant Register to any Person (including the identity of any Participant
or any information relating to a Participant’s interest in any Commitments, Loans, or its other obligations under any Loan
Document) except to the extent that such disclosure is necessary to establish that such Commitment, Loan, or other obligation is
in registered form under Section 5f.103-1(c) of the United States Treasury Regulations. The entries in the Participant Register
shall be conclusive absent manifest error, and such Lender shall treat each Person whose name is recorded in the Participant Register
as the owner of such participation for all purposes of this Agreement notwithstanding any notice to the contrary. For the avoidance
of doubt, the Administrative Agent (in its capacity as Administrative Agent) shall have no responsibility for maintaining a Participant
Register.

 

(h)          
A Participant shall not be entitled to receive any greater payment under Section 2.15, 2.16 or 2.17
than the applicable Lender would have been entitled to receive with respect to the participation sold to such Participant, except
to the extent such entitlement to receive a greater payment results from a Change in Law that occurs after the Participant acquired
the applicable participation. A Participant shall not be entitled to the benefits of Section 2.17 to the extent such
Participant fails to comply with Section 2.17(e) as though it were a Lender.

 

(i)           
Any Lender may at any time, without the consent of or notice to the Administrative Agent or the Borrower, pledge or assign
a security interest in all or any portion of its rights under this Agreement (other than to a natural person) to secure obligations
of such Lender, including any pledge or assignment to secure obligations to a Federal Reserve Bank, and this Section 9.04
shall not apply to any such pledge or assignment of a security interest; provided that no such pledge or assignment of a
security interest shall release a Lender from any of its obligations hereunder or substitute any such pledgee (including any Eligible
Assignee) for such Lender as a party hereto.

 

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(j)           
The Borrower, upon receipt of written notice from the relevant Lender, agrees to issue Notes to any Lender requiring Notes
to facilitate transactions of the type described in paragraph (d) above.

 

(k)          
If any assignment or participation under this Section 9.04 is made (or attempted to be made) to the extent the
Borrower’s consent is required under the terms of this Section 9.04, to any other Person without the Borrower’s
consent, then the Borrower may, at its sole expense and effort, upon notice to such Lender and the Administrative Agent, (A) terminate
the Commitments of such Lender and repay all obligations of the Borrower owing to such Lender relating to the Loans and participations
held by such Lender or participant as of such termination date (in the case of any participation in any Loan, to be applied to
such participation), or (B) require such Lender to assign and delegate, without recourse (in accordance with and subject to
the restrictions contained in this Section 9.04), all its interests, rights and obligations under this Agreement to
an assignee that shall assume such obligations (which assignee may be another Lender, if a Lender accepts such assignment); provided
that (i) such Lender shall have received payment of an amount equal to the lesser of par or the amount such Lender paid for
such Loans, accrued interest thereon, accrued fees and all other amounts payable to it hereunder, 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) and (ii)  such
assignment shall otherwise comply with this Section 9.04 (provided that no registration and processing fee referred
to in this Section 9.04 shall be owing in connection with any assignment pursuant to this paragraph). Nothing in this
Section 9.04(k) shall be deemed to prejudice any rights or remedies the Borrower may otherwise have at law or equity.

 

Section 9.05          
Expenses; Indemnity.

 

(a)          
The Borrower agrees to pay within thirty (30) days of demand thereof (together with backup documentation supporting
such request) (i) all reasonable and documented (in summary format) out-of-pocket expenses (including Other Taxes) incurred
by the Administrative Agent and the Lenders in connection with the preparation of this Agreement and the other Loan Documents,
or by the Administrative Agent or the Lenders in connection with the syndication of the Commitments or the administration of this
Agreement (including expenses incurred in connection with due diligence and initial and ongoing Collateral examination to the extent
incurred with the reasonable prior approval of the Borrower and the reasonable and documented (in summary format) out-of-pocket
fees, disbursements and charges for no more than one (1) outside counsel to the Administrative Agent (selected by the Administrative
Agent) and one (1) outside counsel for the Lenders taken as a whole (selected by the Required Lenders) and, if necessary one (1) local
counsel in each material jurisdiction where Collateral is located for each of the Administrative Agent (selected by the Administrative
Agent) and the Lenders taken as a whole (selected by the Required Lenders)) or in connection with the administration of this Agreement
and any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the Transactions hereby contemplated
shall be consummated) and (ii) all reasonable and documented out-of-pocket expenses incurred by the Administrative Agent or
any Lender in connection with the enforcement or protection of their rights in connection with this Agreement and the other Loan
Documents, in connection with the Loans made hereunder (but limited, in the case of legal fees and expenses, to the actual reasonable
and documented (in summary format) out-of-pocket fees, charges and disbursements of one (1) outside counsel to the Administrative
Agent (selected by the Administrative Agent) and one (1) outside counsel for the Lenders taken as a whole (selected by the Required
Lenders), and, if reasonably necessary (x) the reasonable and documented (in summary format) out-of-pocket fees, charges and
disbursements of one (1) local counsel per relevant local jurisdiction for each of the Administrative Agent (selected by the
Administrative Agent) and the Lenders taken as a whole (selected by the Required Lenders) and (y) in the case of an actual
or potential conflict of interest, the reasonable and documented (in summary format) out-of-pocket fees, charges and disbursements
of one (1) additional counsel to all affected Persons, taken as a whole).

 

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(b)           The
Borrower agrees to indemnify, on a joint and several basis, the Agent Indemnitees, and each Lender and each of their
respective Related Parties, successors and assigns and the directors, trustees, officers, employees, advisors, controlling Persons
and agents of each of the foregoing (each such Person being called a “Lender Indemnitee” ; together with
each Agent Indemnitee, an “Indemnitee”) against, and to hold each Indemnitee harmless from, any and all
losses, claims, damages, liabilities and reasonable and documented (in summary format) out-of-pocket costs and related
expenses (including reasonable and documented (in summary format) out-of-pocket fees, charges and disbursements of outside
counsel to the Administrative Agent (selected by the Administrative Agent) and outside counsel for the Lenders taken as a
whole (selected by the Required Lenders) and, if necessary, one (1) local counsel in each relevant local jurisdiction
for each of the Administrative Agent (selected by the Administrative Agent) and the Lenders taken as a whole (selected by the
Required Lenders) and, in the case of an actual or potential conflict of interest, and one (1) additional counsel to all
affected Indemnitees, taken as a whole) incurred by or asserted against any Indemnitee arising out of, relating to, or as a
result of (i) the execution or delivery of this Agreement or any other Loan Document or any agreement or instrument
contemplated hereby or thereby, the performance by the parties hereto and thereto of their respective obligations thereunder
or the consummation of the Transactions (including the payment of the Transaction Costs) and the other transactions
contemplated hereby, (ii) the use of the proceeds of the Loans or (iii) any claim, litigation, investigation or
proceeding relating to any of the foregoing, whether or not any Indemnitee is a party thereto, provided that such
indemnity shall not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or costs
or related expenses (x) are determined in a final nonappealable judgment of a court of competent jurisdiction to have
resulted by reason from the gross negligence, bad faith or willful misconduct of, or material breach by, such Indemnitee,
(y) arise out of any claim, litigation, investigation or proceeding brought by such Indemnitee (or its Related Parties)
against another Indemnitee (or its Related Parties) (other than any claim, litigation, investigation or proceeding brought by
or against the Administrative Agent, acting in its capacity as Administrative Agent) that does not involve any act or
omission of the Borrower or any of its Subsidiaries and arises out of disputes among the Lenders and/or their transferees.
The Borrower shall not be liable to any Lender Indemnitee for any settlement of any proceeding referred to in this Section 9.05
effected without the Borrower’s written consent (such consent not to be unreasonably withheld or delayed); provided, however,
that the Borrower shall indemnify the Indemnitees from and against any loss or liability by reason of such settlement if the
Borrower was offered the right to assume the defense of such proceeding and did not assume such defense or such proceeding
was settled with the written consent of the Borrower, subject to, in each case, the Borrower’s right in this Section 9.05
to claim an exemption from such indemnity obligations. The Borrower shall indemnify the Indemnitees from and against any
final judgment for the plaintiff in any proceeding referred to in this Section 9.05, subject to the
Borrower’s right in this Section 9.05 to claim an exemption from such indemnity obligations. The Borrower
shall not, without the prior written consent of any Lender Indemnitee, effect any settlement of any pending or threatened
proceeding in respect of which such Lender Indemnitee is a party and indemnity could have been sought hereunder by such
Lender Indemnitee unless such settlement (i) includes an unconditional release of such Indemnitee (and its Related
Parties) from all liability or claims that are the subject matter of such proceeding and (ii) does not include a
statement as to or an admission of fault, culpability or a failure to act by or on behalf of any Lender Indemnitee (or its
Related Parties).

 

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(c)          
To the extent permitted by Applicable Law, each party hereto hereby waives for itself (and, in the case of the Borrower,
for each other Loan Party) any claim against any Loan Party, any Lender Party and their respective affiliates, directors, employees,
attorneys, agents or sub-agents, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed
to direct or actual damages) (whether or not the claim therefor is based on contract, tort or duty imposed by any applicable legal
requirement) arising out of, in connection with, as a result of, or in any way related to, this Agreement or any Loan Document
or any agreement or instrument contemplated hereby or thereby or referred to herein or therein, the transactions contemplated hereby
or thereby, any Loan or the use of the proceeds thereof or any act or omission or event occurring in connection therewith, and
each party hereto (and in the case of the Borrower on behalf of each other Loan Party) hereby waive, release and agree not to sue
upon any such claim or any such damages, whether or not accrued and whether or not known or suspected to exist in its favor; provided
that nothing contained in this sentence shall limit the Borrower’s indemnity obligations to the extent such special, indirect,
consequential or punitive damages are included in any third party claim in connection with which such indemnified Person is entitled
to indemnification hereunder. The provisions of this Section 9.05 shall remain operative and in full force and effect
regardless of the expiration of the term of this Agreement, the consummation of the transactions contemplated hereby, the repayment
of any of the Obligations (including the Prepayment Premium, if owed), the termination of the Commitments, the invalidity or unenforceability
of any term or provision of this Agreement or any other Loan Document, or any investigation made by or on behalf of the Administrative
Agent or any Lender. All amounts due under this Section 9.05 shall be payable on written demand therefor accompanied
by reasonable documentation with respect to any reimbursement, indemnification or other amount requested.

 

(d)          
Except as expressly provided in Section 9.05(a) with respect to Other Taxes, which shall not be duplicative
with any amounts paid pursuant to Section 2.17, this Section 9.05 shall not apply to Taxes other than Taxes
arising from a non-Tax claim.

 

(e)          
Notwithstanding the foregoing paragraphs in this Section 9.05, if it is found by a final, non-appealable judgment
of a court of competent jurisdiction in any such action, proceeding or investigation that any loss, claim, damage, liability or
cost or related expense of any Indemnitee has resulted from the gross negligence, bad faith or willful misconduct of such Indemnitee
(or any of its Related Parties) or a material breach of the Loan Documents by such Indemnitee (or any of its Related Parties),
such Indemnitee will repay such portion of the reimbursed amounts previously paid to such Indemnitee under this Section 9.05
that is attributable to expenses incurred in relation to the set or omission of such Indemnitee which is the subject of such finding.

 

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(f)           
To the extent permitted by Applicable Law, neither the Borrower nor any Loan Party shall assert, and the Borrower and each
Loan Party hereby waives, any claim against any Lender Party, and any Related Party of any of the foregoing Persons for any Liabilities
arising from the use by others of information or other materials (including, without limitation, any personal data) obtained through
telecommunications, electronic or other information transmission systems (including the Internet).

 

Section 9.06         
Right of Set-off. If an Event of Default shall have occurred and be continuing, upon
the written consent of the Required Lenders, each Lender is hereby authorized at any time and from time to time, to the fullest
extent permitted by law, to set off and apply any and all deposits (general or special, time or demand, provisional or final) at
any time held and other indebtedness at any time owing by such Lender to or for the credit or the account of Holdings, the Borrower
or any Subsidiary Guarantor (and such Lender will provide prompt notice to such Loan Party) against any of and all the obligations
of Holdings or the Borrower now or hereafter existing under this Agreement or any other Loan Document held by such Lender, irrespective
of whether or not such Lender shall have made any demand under this Agreement or such other Loan Document and although the obligations
may be unmatured. The rights of each Lender under this Section 9.06 are in addition to other rights and remedies (including
other rights of set-off) that such Lender may have. 

 

Section 9.07         
Applicable Law. THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS (OTHER THAN AS EXPRESSLY
SET FORTH IN OTHER LOAN DOCUMENTS) SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK. 

 

Section 9.08         
Waivers; Amendment.

 

(a)          
No failure or delay of the Administrative Agent or any Lender in exercising any right or power hereunder or under any Loan
Document shall operate as a waiver thereof, nor shall any single or partial exercise of any such right or power, or any abandonment
or discontinuance of steps to enforce such a right or power, preclude any other or further exercise thereof or the exercise of
any other right or power. The rights and remedies of the Administrative Agent and the Lenders hereunder and under the other Loan
Documents are cumulative and are not exclusive of any rights or remedies that they would otherwise have. No waiver of any provision
of this Agreement or any other Loan Document or consent to any departure by Holdings, the Borrower or any other Loan Party therefrom
shall in any event be effective unless the same shall be permitted by paragraph (b) below, and then such waiver or
consent shall be effective only in the specific instance and for the purpose for which given. No notice or demand on Holdings,
the Borrower or any other Loan Party in any case shall entitle such Person to any other or further notice or demand in similar
or other circumstances.

 

(b)          
Neither this Agreement nor any other Loan Document nor any provision hereof or thereof may be waived, amended or modified
except (A) in the case of this Agreement, pursuant to an agreement or agreements in writing entered into by Holdings, the
Borrower, the Administrative Agent and the Required Lenders and (B) in the case of any other Loan Document, pursuant to an
agreement or agreements in writing entered into by each party thereto and consented to by the Required Lenders; provided,
however, that no such agreement shall:

 

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(i)             
decrease or forgive the principal amount of, or extend the final maturity date of, or decrease the rate of interest on,
any Loan, or any fees or other amounts payable thereunder (including any Prepayment Premium, if owed) without the prior written
consent of each Lender directly and adversely affected thereby; provided, that (x) consent of Required Lenders shall
not be required for any waiver, amendment or modification contemplated by this clause (i) and (y) that waiver
or reduction of a post-default increase in interest shall be effective with the consent of the Required Lenders (and shall not
require the consent of each directly and adversely affected Lender),

 

(ii)             
increase the Commitment of any Lender without the prior written consent of such affected Lender (it being understood that
waivers or modifications of conditions precedent, covenants, Defaults or Events of Default or of a mandatory reduction in the aggregate
Commitments shall not constitute an increase of the Commitments of any Lender),

 

(iii)           
extend the Commitment of any Lender without the prior written consent of such Lender, as applicable (it being understood
that waivers or modifications of conditions precedent, covenants, Defaults or Events of Default, mandatory prepayments or of a
mandatory reduction in the aggregate Commitments shall not constitute an increase or extension of maturity); provided, that
consent of Required Lenders shall not be required for any waiver, amendment or modification contemplated by this clause (iii),

 

(iv)            
except to the extent necessary to give effect to the express intentions of this Agreement (including Sections 2.22
and 9.04), which, in respect of any amendment or modification to effect such express intentions, shall be effective with
the consent of the Required Lenders, amend or modify the provisions of Section 2.18(b) or (c) of this Agreement
in a manner that would by its terms alter the pro rata sharing of payments required thereby, without the prior written consent
of each Lender,

 

(v)             
amend or modify the provisions of Section 7.02, Sections 9.08(a), (b) or (c) or reduce
the voting percentage set forth in the definition of “Required Lenders” without the prior written consent of each Lender
directly and adversely affected thereby, or

 

(i)               (x) release
all or substantially all the Collateral (it being understood that a transaction permitted under Section 6.05 shall
not constitute a release of all or substantially all of the Collateral), or release all or substantially all of the value of
the Guarantees (except as otherwise permitted herein (including in connection with a transaction permitted under Section 6.05)
or in the other Loan Documents) under the Collateral Agreement, unless, in the case of a Subsidiary Guarantor, all or
substantially all the Equity Interests of such Subsidiary Guarantor is sold or otherwise disposed of in a transaction
permitted by this Agreement, without the prior written consent of each Lender or (y) subordinate the Liens of the
Administrative Agent under the Security Documents with respect to all or substantially all of the Collateral (other than in
respect of ABL Priority Collateral in accordance with the provisions of the Loan Documents as in effect on the date hereof or
pursuant to Section 9.17) or subordinate the Obligations (including any Prepayment Premium, if owed) hereunder,
without the prior written consent of each Lender, provided, further, that no such agreement shall amend, modify
or otherwise affect the rights or duties of the Administrative Agent or Lender hereunder without the prior written consent of
the Administrative Agent or such Lender acting as such at the effective date of such agreement. Each Lender shall be bound by
any waiver, amendment or modification authorized by this Section 9.08 and any consent by any Lender pursuant to
this Section 9.08 shall bind any successor or assignee of such Lender.

 

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(c)           
Notwithstanding anything to the contrary contained in this Agreement, all discretionary determinations, waivers and consents
that are referred to in this Agreement or the Loan Document (including whenever in this Agreement or any of the other Loan Documents
the words “judgment”, “discretion”, “determination”, “satisfactory”, “acceptable”,
or “agreed” or words of similar import are used) as being satisfactory (or reasonably satisfactory) to the Administrative
Agent or requiring the Administrative Agent’s discretion, waiver or consent (including whenever in this Agreement or any
of the other Loan Documents the words “consent”, “approval”, “satisfaction”, “establishment”
or words of similar import), shall mean for all purposes herein and in the Loan Documents that such discretionary determinations,
waivers and consents must be satisfactory (or reasonably satisfactory) to the Required Lenders and requiring the Required Lenders’
discretion, waiver and consent (or, in each case, the Administrative Agent at the direction of the Required Lenders), including
without limitation any amendments, waivers or consents, determinations as to whether any applicable documentation (including intercreditor
or subordination agreements) or other deliverable hereunder is in form and substance satisfactory (or reasonably satisfactory)
to the Administrative Agent (which must be in form and substance satisfactory (or reasonably satisfactory) to the Required Lenders),
determinations as to collateral and guaranty matters and extensions of time periods in order to comply with the terms of this Agreement.

 

Section 9.09          
Interest Rate Limitation. Notwithstanding anything herein to the contrary, if at
any time the applicable interest rate on any Loan, together with all fees and charges that are treated as interest under Applicable
Law (collectively, the “Charges”), as provided for herein or in any other document executed in connection herewith,
or otherwise contracted for, charged, received, taken or reserved by any Lender shall exceed the maximum lawful rate (the “Maximum
Rate”) that may be contracted for, charged, taken, received or reserved by such Lender in accordance with Applicable
Law, the rate of interest payable hereunder, together with all Charges payable to such Lender shall be limited to the Maximum Rate,
provided that such excess amount shall be paid to such Lender on subsequent payment dates to the extent not exceeding the
legal limitation.

 

Section 9.10          
Entire Agreement. This Agreement and the other Loan Documents constitute the entire
contract between the parties relative to the subject matter hereof. Any previous agreement among or representations from the parties
or their Affiliates with respect to the subject matter hereof is superseded by this Agreement and the other Loan Documents. Notwithstanding
the foregoing, the Administrative Agent Fee Letter shall survive the execution and delivery of this Agreement and remain in full
force and effect. Nothing in this Agreement or in the other Loan Documents, expressed or implied, is intended to confer upon any
party other than the parties hereto and thereto, and their respective successors and assigns permitted hereunder, any rights, remedies,
obligations or liabilities under or by reason of this Agreement or the other Loan Documents.

 

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Section 9.11          
WAIVER OF JURY TRIAL. EACH OF THE PARTIES HERETO HEREBY AGREES TO WAIVE ITS RESPECTIVE
RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING HEREUNDER OR UNDER ANY OF THE OTHER LOAN DOCUMENTS
OR ANY DEALINGS BETWEEN THEM RELATING TO THE SUBJECT MATTER OF THIS LOAN TRANSACTION OR THE LENDER/BORROWER RELATIONSHIP THAT IS
BEING ESTABLISHED. THE SCOPE OF THIS WAIVER IS INTENDED TO BE ALL-ENCOMPASSING OF ANY AND ALL DISPUTES THAT MAY BE FILED IN ANY
COURT AND THAT RELATE TO THE SUBJECT MATTER OF THIS TRANSACTION, INCLUDING CONTRACT CLAIMS, TORT CLAIMS, BREACH OF DUTY CLAIMS
AND ALL OTHER COMMON LAW AND STATUTORY CLAIMS. EACH PARTY HERETO ACKNOWLEDGES THAT THIS WAIVER IS A MATERIAL INDUCEMENT TO ENTER
INTO A BUSINESS RELATIONSHIP, THAT EACH HAS ALREADY RELIED ON THIS WAIVER IN ENTERING INTO THIS AGREEMENT, AND THAT EACH WILL CONTINUE
TO RELY ON THIS WAIVER IN ITS RELATED FUTURE DEALINGS. EACH PARTY HERETO FURTHER WARRANTS AND REPRESENTS THAT IT HAS REVIEWED THIS
WAIVER WITH ITS LEGAL COUNSEL AND THAT IT KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS FOLLOWING CONSULTATION WITH LEGAL
COUNSEL. THIS WAIVER IS IRREVOCABLE, MEANING THAT IT MAY NOT BE MODIFIED EITHER ORALLY OR IN WRITING (OTHER THAN BY A MUTUAL WRITTEN
WAIVER SPECIFICALLY REFERRING TO THIS SECTION 9.11 AND EXECUTED BY EACH OF THE PARTIES HERETO), AND THIS WAIVER SHALL APPLY
TO ANY SUBSEQUENT AMENDMENTS, RENEWALS, SUPPLEMENTS OR MODIFICATIONS HERETO OR ANY OF THE OTHER LOAN DOCUMENTS OR TO ANY OTHER
DOCUMENTS OR AGREEMENTS RELATING TO THE LOANS MADE HEREUNDER. IN THE EVENT OF LITIGATION, THIS AGREEMENT MAY BE FILED AS A WRITTEN
CONSENT TO A TRIAL BY THE COURT.

 

Section 9.12          
Severability. In the event any one (1) or more of the provisions contained in this
Agreement or in any other Loan Document should be held invalid, illegal or unenforceable in any respect, the validity, legality
and enforceability of the remaining provisions contained herein and therein shall not in any way be affected or impaired thereby.
The parties shall endeavor in good-faith negotiations to replace the invalid, illegal or unenforceable provisions with valid provisions
the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions.

 

Section 9.13          
Counterparts; Electronic Execution. 

 

(a)           
This Agreement may be executed in multiple counterparts (and by different parties hereto on different counterparts), each
of which shall constitute an original but all of which, when taken together, shall constitute but one (1) contract, and shall
become effective as provided in Section 9.03.

 

    109

     

    

 

(b)          
Delivery of an executed counterpart of a signature page of (x) this Agreement, (y) any other Loan Document and/or (z) any
document, amendment, approval, consent, information, notice (including, for the avoidance of doubt, any notice delivered pursuant
to Section 9.01), certificate, request, statement, disclosure or authorization related to this Agreement, any other Loan Document
and/or the transactions contemplated hereby and/or thereby (each an “Ancillary Document”) that is an Electronic
Signature transmitted by facsimile, emailed pdf. or any other electronic means that reproduces an image of an actual executed signature
page shall be effective as delivery of a manually executed counterpart of this Agreement, such other Loan Document or such Ancillary
Document, as applicable. The words “execution,” “signed,” “signature,” “delivery,”
and words of like import in or relating to this Agreement, any other Loan Document, any assignment, and/or any Ancillary Document
shall be deemed to include Electronic Signatures, deliveries or the keeping of records in any electronic form (including deliveries
by facsimile, emailed pdf. or any other electronic means that reproduces an image of an actual executed signature page), each of
which shall be of the same legal effect, validity or enforceability as a manually executed signature, physical delivery thereof
or the use of a paper-based recordkeeping system, as the case may be; provided that nothing herein shall require the Administrative
Agent to accept Electronic Signatures in any form or format without its prior written consent and pursuant to procedures approved
by it; provided, further, without limiting the foregoing, (i) to the extent the Administrative Agent has agreed to accept any Electronic
Signature, the Administrative Agent and each of the Lenders shall be entitled to rely on such Electronic Signature purportedly
given by or on behalf of the Borrower or any other Loan Party without further verification thereof and without any obligation to
review the appearance or form of any such Electronic Signature and (ii) upon the request of the Administrative Agent or any Lender,
any Electronic Signature shall be promptly followed by a manually executed counterpart. Without limiting the generality of the
foregoing, the Borrower and each Loan Party hereby (A) agrees that, for all purposes, including without limitation, in connection
with any workout, restructuring, enforcement of remedies, bankruptcy proceedings or litigation among the Administrative Agent,
the Lenders, the Borrower and the Loan Parties, Electronic Signatures transmitted by facsimile, emailed pdf. or any other electronic
means that reproduces an image of an actual executed signature page and/or any electronic images of this Agreement, any other Loan
Document and/or any Ancillary Document shall have the same legal effect, validity and enforceability as any paper original, (B)
the Administrative Agent and each of the Lenders may, at its option, create one or more copies of this Agreement, any other Loan
Document and/or any Ancillary Document in the form of an imaged electronic record in any format, which shall be deemed created
in the ordinary course of such Person’s business, and destroy the original paper document (and all such electronic records
shall be considered an original for all purposes and shall have the same legal effect, validity and enforceability as a paper record),
(C) waives any argument, defense or right to contest the legal effect, validity or enforceability of this Agreement, any other
Loan Document and/or any Ancillary Document based solely on the lack of paper original copies of this Agreement, such other Loan
Document and/or such Ancillary Document, respectively, including with respect to any signature pages thereto and (D) waives any
claim against any Lender Party for any Liabilities arising solely from the Administrative Agent’s and/or any Lender’s
reliance on or use of Electronic Signatures and/or transmissions by facsimile, emailed pdf. or any other electronic means that
reproduces an image of an actual executed signature page, including any Liabilities arising as a result of the failure of the Borrower
and/or any Loan Party to use any available security measures in connection with the execution, delivery or transmission of any
Electronic Signature.

 

Section 9.14          
Headings. Article and Section headings and the Table of Contents used herein are
for convenience of reference only, are not part of this Agreement and are not to affect the construction of, or to be taken into
consideration in interpreting, this Agreement.

 

    110

     

    

 

 

Section 9.15       
Jurisdiction; Consent to Service of Process.

 

(a)        Each of the parties hereto hereby irrevocably and unconditionally submits, for itself and its property, to the exclusive
jurisdiction of any New York State court or federal court of the United States of America sitting in New York City, and any appellate
court from any thereof, in any action or proceeding arising out of or relating to this Agreement or the other Loan Documents, or
for recognition or enforcement of any judgment, and each of the parties hereto hereby irrevocably and unconditionally agrees that
all claims in respect of any such action or proceeding may be heard and determined in such New York State or, to the extent permitted
by law, in such federal court. Each of the parties hereto agrees that a final judgment in any such action or proceeding shall be
conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. Nothing in
this Agreement shall affect any right that any Lender Party may otherwise have to bring any action or proceeding relating to this
Agreement or the other Loan Documents against Holdings, the Borrower or any Loan Party or their properties in the courts of any
jurisdiction.

 

(b)        Each of the parties hereto hereby irrevocably and unconditionally waives, to the fullest extent it may legally and effectively
do so, any objection which it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of
or relating to this Agreement or the other Loan Documents in any New York State or federal court. Each of the parties hereto hereby
irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance of such action
or proceeding in any such court.

 

(c)        Each of the parties hereto agrees that service of all process in any such proceeding in any such court may be made by registered
or certified mail, return receipt requested at its address provided in Section 9.01 agrees that service as so provided
in is sufficient to confer personal jurisdiction over the applicable credit party in any such proceeding in any such court, and
otherwise constitutes effective and binding service in every respect; and agrees that agents and lenders retain the right to serve
process in any other manner permitted by law or to bring proceedings against any credit party in the courts of any other jurisdiction.

 

    111 

     

    

 

Section 9.16       
Confidentiality. Each Lender Party agrees that it shall maintain in confidence any
information relating to Holdings, the Borrower and the other Loan Parties furnished to it by or on behalf of Holdings, the Borrower
or the other Loan Parties (other than information that (a) has become generally available to the public other than as a result
of a disclosure by any such party, (b) was already in possession on a non-confidential basis for a person not known to the
recipient to be bound by confidentiality obligations to Parent or any Subsidiary thereof or has been independently developed by
such Lender Party without violating this Section 9.16 or relying on any such information, (c) was available to
such Lender Party from a third party having, to such Person’s knowledge, no obligations of confidentiality to Holdings, the
Borrower or any other Loan Party) and shall not reveal the same other than to its directors, trustees, officers, employees and
advisors with a need to know or to any Person that approves or administers the Loans on behalf of such Lender (so long as each
such Person shall have been instructed to keep the same confidential in accordance with this Section 9.16 and such
Lender Party shall be responsible for its Affiliates’ compliance with this Section except to the extent such Affiliate shall
sign a written confidentiality agreement in favor of the Borrower), except: (i) to the extent necessary to comply with law
or any legal process or the requirements of any Governmental Authority, self-regulatory authorities (including the National Association
of Insurance Commissioners) or of any securities exchange on which securities of the disclosing party or any affiliate of the disclosing
party are listed or traded (in which case such Lender Party will promptly notify the Borrower, in advance, to the extent permitted
by Applicable Law or the rules governing the process requiring such disclosure (except with respect to any routine or ordinary
course audit or examination conducted by bank accountants or any governmental bank regulatory authority exercising examination
or regulatory authority) and shall use its commercially reasonable efforts to ensure that any such information so disclosed is
accorded confidential treatment), (ii) as part of the reporting or review procedures to, or examinations by, Governmental
Authorities or self-regulatory authorities, including the National Association of Insurance Commissioners or the National Association
of Securities Dealers, Inc., (iii) to its parent companies, affiliates, auditors, assignees, transferees and participants
(so long as each such Person shall have been instructed to keep the same confidential in accordance with provisions not less restrictive
than this Section 9.16 and such Lender Party shall be responsible for its Affiliates’ compliance with this Section),
(iv) in order to enforce its rights under any Loan Document in a legal proceeding (in which case it shall use commercially
reasonable efforts to ensure that any such information so disclosed is accorded confidential treatment), (v) to any pledgee
under Section 9.04(d) or any other existing or prospective assignee of, or existing or prospective Participant in,
any of its rights under this Agreement (so long as such Person shall have been instructed to keep the same confidential in accordance
with this Section 9.16 or other provisions at least as restrictive as this Section 9.16), (vi) to
any direct or indirect contractual counterparty in Swap Agreements or such contractual counterparty’s professional advisor
(so long as such contractual counterparty or professional advisor to such contractual counterparty agrees to be bound by the provisions
of this Section 9.16), and (vii) with the consent of the Borrower. In addition, the Administrative Agent and each
Lender may disclose the existence of this Agreement and the information about this Agreement to market data collectors, similar
services providers to the lending industry, and service providers to the Administrative Agent and the Lenders in connection with
the administration and management of this Agreement, the other Loan Documents and any Swap Agreement to which a Lender Party is
a party.

 

Section 9.17       
Release of Liens and Guarantees. In the event that any Loan Party conveys, sells,
assigns, transfers or otherwise disposes of any assets or all of the Equity Interests of any Subsidiary Guarantor to a Person that
is not (and is not required to become) a Loan Party in each case in a transaction expressly permitted by Section 6.05,
the Administrative Agent (acting at the direction of the Required Lenders) shall promptly take such action and execute any such
documents as may be reasonably requested by Holdings or the Borrower and at the Borrower’s expense to release any Liens created
by any Loan Document in respect of such Equity Interests or assets, and, in the case of a disposition of all of the Equity Interests
of any Subsidiary Guarantor in a transaction expressly permitted by Section 6.05, terminate such Subsidiary Guarantor’s
obligations under its Guarantee. Any representation, warranty or covenant contained in any Loan Document relating to any such Equity
Interests, asset or subsidiary of Holdings shall no longer be deemed to be made once such Equity Interests or asset is so conveyed,
sold, leased, assigned, transferred or disposed of. At the request of the Borrower, the Administrative Agent (acting at the direction
of the Required Lenders) shall promptly (i) subordinate any Lien granted to the Administrative Agent (or any sub-agent or
collateral agent) under any Loan Document to the holder of any Lien on such property that is permitted by Sections 6.02(c)
(solely in the case of Liens securing Capital Lease Obligations and purchase money Indebtedness),
(i), (j), and (aa) and (ii) enter into intercreditor arrangements contemplated by (or amendments to the
Security Documents to effect the arrangement contemplated by) Sections 6.01(g), (j) and (y), Sections 6.02(b),
(c) and (y), and the definition of “Permitted Refinancing Indebtedness.”

 

Section 9.18       
USA PATRIOT Act. Each Lender hereby notifies the Loan Parties that pursuant to the
requirements of the USA PATRIOT Act, it is required to obtain, verify and record information that identifies the Borrower, which
information includes the name and address of the Borrower and other information that will allow such Lender to identify the Borrower
in accordance with the USA PATRIOT Act.

 

    112 

     

    

 

Section 9.19       
Marshalling; Payments Set Aside. Neither the
Administrative Agent nor any Lender shall be under any obligation to marshal any assets in favor of any Loan Party or any other
Person or against or in payment of any or all of the Obligations. To the extent that any Loan Party makes a payment or payments
to the Administrative Agent or the Lenders (or to the Administrative Agent, on behalf of the Lenders), or the Administrative Agent
or the Lenders enforce any security interests or exercise their rights of setoff, and such payment or payments or the proceeds
of such enforcement or setoff or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set
aside, determined to be void or voidable as a preference, impermissible setoff, or a diversion of trust funds, and/or required
to be repaid to a trustee, receiver or any other party under any bankruptcy law, any other state or federal law, common law or
any equitable cause for any reason, then, to the extent of such recovery, the obligation or part thereof originally intended to
be satisfied, and all Liens, rights and remedies therefor or related thereto, shall be revived and continued in full force and
effect as if such payment or payments had not been made or such enforcement or setoff had not occurred. The provisions of
this Section 9.19 shall be and remain effective notwithstanding any contrary action which may have been taken by the Administrative
Agent or any Lender in reliance upon such payment or application of proceeds. The provisions of this Section 9.19 shall
survive the termination of this Agreement.

 

Section 9.20       
Obligations Several; Independent Nature of Lenders’ Rights. The obligations
of Lenders hereunder are several and no Lender shall be responsible for the obligations or Commitment of any other Lender hereunder.
Nothing contained herein or in any other Loan Document, and no action taken by Lenders pursuant hereto or thereto, shall be deemed
to constitute Lenders as a partnership, an association, a joint venture or any other kind of entity. The amounts payable at any
time hereunder to each Lender shall be a separate and independent debt, and each Lender shall be entitled to protect and enforce
its rights arising out hereof and it shall not be necessary for any other Lender to be joined as an additional party in any proceeding
for such purpose.

 

Section 9.21       
Acknowledgement Regarding Any Supported QFCs. To the extent that the Loan
Documents provide support, through a guarantee or otherwise, for Swap Agreements or any other agreement or instrument that is
a QFC (such support “QFC Credit Support” and each such QFC a “Supported QFC”), the parties
acknowledge and agree as follows with respect to the resolution power of the Federal Deposit Insurance Corporation under the Federal
Deposit Insurance Act and Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act (together with the regulations
promulgated thereunder, the “U.S. Special Resolution Regimes”) in respect of such Supported QFC and QFC Credit
Support (with the provisions below applicable notwithstanding that the Loan Documents and any Supported QFC may in fact be stated
to be governed by the laws of the State of New York and/or of the United States or any other state of the United States):

 

    113 

     

    

 

In the event a Covered
Entity that is party to a Supported QFC (each, a “Covered Party”) becomes subject to a proceeding under a U.S.
Special Resolution Regime, the transfer of such Supported QFC and the benefit of such QFC Credit Support (and any interest and
obligation in or under such Supported QFC and such QFC Credit Support, and any rights in property securing such Supported QFC or
such QFC Credit Support) from such Covered Party will be effective to the same extent as the transfer would be effective under
the U.S. Special Resolution Regime if the Supported QFC and such QFC Credit Support (and any such interest, obligation and rights
in property) were governed by the laws of the United States or a state of the United States. In the event a Covered Party or a
BHC Act Affiliate of a Covered Party becomes subject to a proceeding under a U.S. Special Resolution Regime, Default Rights under
the Loan Documents that might otherwise apply to such Supported QFC or any QFC Credit Support that may be exercised against such
Covered Party are permitted to be exercised to no greater extent than such Default Rights could be exercised under the U.S. Special
Resolution Regime if the Supported QFC and the Loan Documents were governed by the laws of the United States or a state of the
United States.

 

Section 9.22       
Acknowledgements. Each Loan Party hereby acknowledges and agrees that (a) no
fiduciary, advisory or agency relationship between the Loan Parties and the Lender Parties is intended to be or has been created
in respect of any of the transactions contemplated by this Agreement or the other Loan Documents, irrespective of whether the Lender
Parties have advised or are advising the Loan Parties on other matters, and the relationship between the Lender Parties, on the
one hand, and the Loan Parties, on the other hand, in connection herewith and therewith is solely that of creditor and debtor,
(b) the Lender Parties, on the one hand, and the Loan Parties, on the other hand, have an arm’s length business relationship
that does not directly or indirectly give rise to, nor do the Loan Parties rely on, any fiduciary duty to the Loan Parties or their
affiliates on the part of the Lender Parties, (c) the Loan Parties are capable of evaluating and understanding, and the Loan
Parties understand and accept, the terms, risks and conditions of the transactions contemplated by this Agreement and the other
Loan Documents, (d) the Loan Parties have been advised that the Lender Parties are engaged in a broad range of transactions
that may involve interests that differ from the Loan Parties’ interests and that the Lender Parties have no obligation to
disclose such interests and transactions to the Loan Parties, (e) the Loan Parties have consulted their own legal, accounting,
regulatory and tax advisors to the extent the Loan Parties have deemed appropriate in the negotiation, execution and delivery of
this Agreement and the other Loan Documents, (f) each Lender Party has been, is, and will be acting solely as a principal
and, except as otherwise expressly agreed in writing by it and the relevant parties, has not been, is not, and will not be acting
as an advisor, agent or fiduciary for the Loan Parties, any of their affiliates or any other Person, (g) none of the Lender
Parties has any obligation to the Loan Parties or their affiliates with respect to the transactions contemplated by this Agreement
or the other Loan Documents except those obligations expressly set forth herein or therein or in any other express writing executed
and delivered by such Lender Party and the Loan Parties or any such affiliate and (h) no joint venture is created hereby or
by the other Loan Documents or otherwise exists by virtue of the transactions contemplated hereby among the Lender Parties or among
the Loan Parties and the Lender Parties.

 

    114 

     

    

 

Section 9.23       
[Reserved]. 

 

Section 9.24       
Judgment Currency. If, for the purposes of obtaining judgment in any court, it is
necessary to convert a sum due hereunder or any other Loan Document in one currency into another currency, the rate of exchange
used shall be that at which in accordance with normal banking procedures the Administrative Agent could purchase the first currency
with such other currency on the Business Day preceding that on which final judgment is given. The obligation of the Borrower in
respect of any such sum due from it to the Administrative Agent or any Lender hereunder or under the other Loan Documents shall,
notwithstanding any judgment in a currency (the “Judgment Currency”) other than that in which such sum is denominated
in accordance with the applicable provisions of this Agreement (the “Agreement Currency”), be discharged only
to the extent that on the Business Day following receipt by the Administrative Agent or such Lender, as the case may be, of any
sum adjudged to be so due in the Judgment Currency, the Administrative Agent or such Lender, as the case may be, may in accordance
with normal banking procedures purchase the Agreement Currency with the Judgment Currency. If the amount of the Agreement Currency
so purchased is less than the sum originally due to the Administrative Agent or any Lender from the Borrower in the Agreement Currency,
the Borrower agrees, as a separate obligation and notwithstanding any such judgment, to indemnify the Administrative Agent or such
Lender, as the case may be, against such loss. If the amount of the Agreement Currency so purchased is greater than the sum originally
due to the Administrative Agent or any Lender in such currency, the Administrative Agent or such Lender, as the case may be, agrees
to return the amount of any excess to the Borrower (or to any other Person who may be entitled thereto under Applicable Law).

 

Section 9.25       
Acknowledgement and Consent to Bail-In of Affected Financial Institutions(a).

 

(b)           Notwithstanding anything to the contrary in any Loan Document or in any other agreement, arrangement or understanding among
any such parties, each party hereto acknowledges that any liability of any Lender that is an Affected Financial Institution arising
under any Loan Document may be subject to the Write-Down and Conversion Powers of the applicable Resolution Authority and agrees
and consents to, and acknowledges and agrees to be bound by:

 

(i)        
the application of any Write-Down and Conversion Powers by the applicable Resolution Authority to any such liabilities arising
hereunder which may be payable to it by any Lender that is an Affected Financial Institution; and

 

(ii)        
the effects of any Bail-In Action on any such liability, including, if applicable:

 

(A)          a reduction in full or in part or cancellation of any such liability;

 

(B)           a conversion of all, or a portion of, such liability into shares or other instruments of ownership in such Affected Financial
Institution, its parent entity, or a bridge institution that may be issued to it or otherwise conferred on it, and that such shares
or other instruments of ownership will be accepted by it in lieu of any rights with respect to any such liability under this Agreement
or any other Loan Document; or

 

    115 

     

    

 

(c)           the variation of the terms of such liability in connection with the exercise of the Write-Down and Conversion Powers of
the applicable Resolution Authority.

 

Section 9.26        Intercreditor
Agreement. This Agreement and the other Loan Documents are subject to the terms and conditions set forth in the
Intercreditor Agreement in all respects and, in the event of any conflict between the terms of the Intercreditor Agreement
and this Agreement, the terms of the Intercreditor Agreement shall govern. Notwithstanding anything herein to the contrary,
the lien and security interest granted to the Administrative Agent or the ABL Administrative Agent, as applicable, pursuant
to any Loan Document or ABL Loan Document, and the exercise of any right or remedy in respect of the Collateral by the
Administrative Agent or the ABL Administrative Agent, as applicable hereunder, under any other Loan Document, or under the
ABL Credit Agreement and any other agreement entered into in connection therewith are subject to the provisions of the
Intercreditor Agreement and in the event of any conflict between the terms of the Intercreditor Agreement, this Agreement,
any other Loan Document, the ABL Credit Agreement and any other agreement entered into in connection therewith, the terms of
the Intercreditor Agreement shall govern and control with respect to the exercise of any such right or remedy or the Loan
Parties’ covenants and obligations. In addition, all payments required to be made by the Loan parties hereunder
(whether in respect of principal, interest, fees or otherwise) are subject to the provisions of the Intercreditor
Agreement.

 

[Signature Pages Follow]

 

    116 

     

    

 

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

 

	 	TUESDAY MORNING, INC.
	 	 	 
	 	 	 
	 	By:	/s/ Steven R. Becker
	 	 	Name: Steven R. Becker
	 	 	Title: Chief Executive
    Officer
	 	 	 
	 	 	 
	 	TUESDAY MORNING CORPORATION
	 	 	 
	 	 	 
	 	By:	/s/ Steven R. Becker
	 	 	Name: Steven R. Becker
	 	 	Title: Chief Executive
    Officer
	 	 	 
	 	 	 
	 	TMI HOLDINGS, INC.
	 	 	 
	 	 	 
	 	By:	/s/ Steven R. Becker
	 	 	Name: Steven R. Becker
	 	 	Title: Chief Executive
    Officer

 

[Signature Page to Term Loan Credit Agreement (Tuesday Morning)]

 

     

     

    

 

	 	ALTER DOMUS (US) LLC,
	 	as Administrative Agent
	 	 	 
	 	 	 
	 	By:	/s/ Jon Kirschmeier
	 	 	Name: Jon Kirschmeier
	 	 	Title: Associate Counsel

 

[Signature Page to Term Loan Credit Agreement (Tuesday Morning)]

 

     

     

    

 

	 	CEOF Holdings LP,
	 	as a Lender
	 	 	 
	 	 	 
	 	By:	/s/ Daniel Friedman
	 	 	Name: Daniel Friedman
	 	 	Title: General Counsel of Corbin Capital
    Partners, LP., as it's Investment Manager

 

[Signature Page to Term Loan Credit Agreement (Tuesday Morning)]

 

     

     

    

 

	 	Foxhill Opportunity Fund, L.P.,
	 	as a Lender
	 	 	 
	 	 	 
	 	By:	/s/ Neil Weiner
	 	 	Name: Neil Weiner
	 	 	Title: Managing Partner

 

[Signature Page to Term Loan Credit Agreement (Tuesday Morning)]

 

     

     

    

 

	 	OSMIUM CAPITAL, LP
	 	 
	 	OSMIUM CAPITAL II, LP
	 	 
	 	OSMIUM SPARTAN, LP
	 	 
	 	OSMIUM DIAMOND, LP
	 	 
	 	as a Lender
	 	 	 
	 	 	 
	 	By:	/s/ John H. Lewis
	 	 	Name: John H. Lewis
	 	 	Title: Authorized Person

 

[Signature Page to Term Loan Credit Agreement (Tuesday Morning)]

 

     

     

    

 

	 	TENSILE CAPITAL PARTNERS MASTER FUND LP
	 	as a Lender
	 	 	 
	 	 	 
	 	By:	/s/ Douglas J. Dossey
	 	 	Name: Douglas J. Dossey
	 	 	Title: Authorized Person

 

[Signature Page to Term Loan Credit Agreement (Tuesday Morning)]

 

     

     

    

 

Schedule 9.01(a)

 

If to any Loan Party, to

 

Tuesday Morning, Inc.

6250 LBJ Freeway, Dallas, Texas 75240

Attention: Stacie Shirley, Steven R. Becker

Telecopier: (972) 934-7231

Electronic Address: sshirley@tuesdaymorning.com,
sbecker@tuesdaymorning.com

 

with a copy to

 

Haynes and Boone, LLP

2323 Victory Ave., Suite 700, Dallas, Texas
75219

Attention: Ian Peck

Electronic Address: ian.peck@haynesboone.com

 

If to the Administrative Agent, to

Alter Domus (US) LLC

225 W. Washington St., 9th Floor

Chicago, Illinois 60606

Attention: Legal Department and Steve Lenard

Telecopier: 312-376-0751

Electronic Address: legal@alterdomus.com
and cpcagency@alterdomus.com

 

with a copy, which
shall not constitute notice, to

 

Holland & Knight LLP

150 N. Riverside Plaza, Suite 2700

Chicago, Illinois 60606

Attention: Joshua Spencer

Electronic Address: joshua.spencer@hklaw.com;

 

If to Tensile Capital Management LLC and
its affiliates, to

 

Tensile Capital Management LLC

700 Larkspur Landing Circle, Suite 255

Larkspur, CA 94939

Attention: Douglas J. Dossey

Telecopier: (415) 830-8178

Electronic Address: DDossey@tensilecapital.com

 

     

     

    

 

with a copy, which
shall not constitute notice, to

 

Kirkland & Ellis LLP

555 California St, San Francisco, CA 94104

Attention: Katrina Levy and Nisha Kanchanapoomi

Electronic Address: Katrina.Levy@kirkland.com,
Nisha.Kanchanapoomi@kirkland.com

 

If to Osmium Capital, LP and its affiliates,
to

 

Osmium Capital, LP

300 Drakes Landing Road #172

Greenbrae, CA 94904

Attention: John H. Lewis

Telecopier: (415) 747-8979

Electronic Address: jl@osmiumpartners.com

 

If to CEOF Holdings LP and its affiliates,
to

 

CEOF Holdings LP

c/o Corbin Capital Partners, L.P.

590 Madison Avenue, 31st Floor

New York, NY 10022

Attention: Corbin Operations

Telecopier: (212) 634-7399, duplicate copies
to (212) 651-2377 and (866) 381-1484

Electronic Address: corbinwso-fax@ifs.statestreet.com;
mmf-bankdebt@corbincapital.com; corbin@viteos.com; corbinNAV@statestreet.com; corbinwso@statestreet.com

 

If to Foxhill Opportunity Fund, L.P. and
its affiliates, to

 

Foxhill Opportunity Fund, L.P.

c/o Foxhill Capital Partners, LLC

2141 A1A

Suite 450

Jupiter, FL 33477

Attention: Ravena Khan

Electronic Address: ravena@foxhillcapital.com

 

If to any other Lender, to it at the address,
fax number or electronic address set forth in the Assignment and Acceptance pursuant to which such Lender becomes a party hereto.

 

[Signature Page to Term Loan Credit Agreement (Tuesday Morning)]Exhibit 10.3

 

LEASE AGREEMENT

 

This SHORT TERM
LEASE (this “Lease”) is entered into as of the 31st day of December, 2020, by and between 6250 LBJ
Freeway, LP, a Texas limited partnership (“Landlord”) and TUESDAY MORNING, INC., a Texas corporation
(“Tenant”).

 

		1.	Lease Grant and Term. Subject to the terms of this Lease, Landlord leases to Tenant,
and Tenant leases from Landlord, the real property as described in the legal description attached hereto as Exhibit A
(together with any improvements thereon) located at 6250 LBJ Freeway, Dallas, Texas (the “Premises” or
the “Property”). The term of this Lease (the “Term”) shall commence on the
date first set forth above (the “Commencement Date”) and shall continue until 5:00 p.m. (Central
Standard Time) on the date that is one hundred twenty (120) months following the Commencement Date (“Termination Date”).

 

		2.	Permitted Use; Operation. Tenant shall use the Premises for general office use, together
with any incidental purposes thereto, and for no other purpose. Tenant will ensure that Tenant’s use of the Premises complies
with all laws, ordinances, rules and regulations of governmental authorities and all matters of record affecting the Premises,
now or hereafter in effect.

 

		3.	Rent Payments. During the Term, Tenant agrees to pay to Landlord a monthly sum equal
to $67,761.67 (the “Fixed Rental”). All Fixed Rental payments shall be due and payable, in advance, on
or before the first day of each succeeding calendar month during the Term. Fixed Rental for any fractional month during the Term
shall be prorated based on the current Fixed Rental for each day of the partial month this Lease is in effect. For the avoidance
of doubt, Tenant has no monetary obligations to Landlord under this Lease unless expressly provided otherwise in this Lease. Tenant
may (i) send Fixed Rental Payments to the following address: P.O. Box 471369, Fort Worth, Texas 76147, or (ii) elect
to wire Fixed Rental Payments (or pay via Automated Clearing House), in which case Landlord shall provide wiring instructions to
Tenant. Commencing on the first (1st) anniversary of the Commencement Date and continuing each anniversary date thereafter
during the Term, the Fixed Rental amount shall be increased by two percent (2.0%) over the prior year’s Fixed Rental amount.
Notwithstanding anything to the contrary contained herein, this Lease is an absolute net lease. It is the intention of Landlord
and Tenant that the Fixed Rental and other sums and charges provided herein shall be absolutely net to Landlord and that such amounts
shall be paid without setoff, abatement, deduction, reduction, except as otherwise expressly permitted by this Lease.

 

		4.	Late Fees; Interest. In the event that a Fixed Rental payment is not received
by Landlord within five (5) days of the date it is due, Tenant may be assessed a late fee by Landlord of 2.5% of the amount
due; provided, however, no such late fee shall be owed unless such late payment continues for a period of five (5) days after
written notice to Tenant (but Tenant shall only be entitled to one such notice in any calendar year, and thereafter during such
calendar year any such payment not paid within five (5) days of its due date shall trigger such late payment without the requirement
of additional notice).

 

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		5.	Reserved.

 

		6.	Maintenance, Repair, and Replacement; Surrender. Excluding damage by casualty or
condemnation, which are governed elsewhere in this Lease, Tenant, at its sole cost and expense, shall maintain and repair in their
current condition, reasonable wear and tear excepted, the Premises (including the roof, foundation, exterior walls and other structural
elements) and equipment and systems within the Premises (including generators, lighting, electrical, plumbing, hydraulics, mechanical,
heating, ventilating and air conditioning), all driveways, parking areas, landscaping, and other improvements located on the Premises,
which maintenance and repair shall be in Tenant’s reasonable discretion, and may include replacement of such equipment, systems,
or structural elements of the Property if replacement is required in Tenant’s reasonable discretion. During the Term of this
Lease, Landlord shall have no obligations with respect to the maintenance or repair (including replacement) of the Premises, all
of such obligations being assumed by Tenant, except as otherwise expressly provided herein. Landlord may make any repairs to the
Premises upon thirty (30) days advance written notice to Tenant (or such shorter period of time if Landlord reasonably determines
the failure to immediately repair will result in material long-term damage to the Premises (or any part thereof), or would cause
injury or harm to human health, in Landlord’s reasonable judgment), so long as Landlord uses commercially reasonable efforts
to minimize interference with Tenant’s business operating in exercising its rights hereunder. In the event that Landlord
is required to make any repairs to the Premises to correct a condition or state of facts which if not corrected would result in
long-term material damage to the Premises (or any material part thereof), or would cause injury or harm to human health, in Landlord’s
reasonable judgment and Tenant fails to commence and diligently pursue such repair within ten (10) days’ of receipt
of notice thereof (or with respect to an emergency condition, within five (5) days’ of receipt of notice thereof), Tenant
shall reimburse Landlord for all of Landlord’s out-of-pocket costs in making such repair within ten (10) days following
Landlord’s invoice therefor. Landlord shall indemnify and hold harmless Tenant for any actual, out-of-pocket costs, expenses
or losses which Tenant incurs due to Landlord’s, its agents or contractors’ negligence or willful misconduct in connection
with any repairs done by Landlord or on behalf of Landlord at the Premises. Notwithstanding anything to the contrary, at the expiration
or earlier termination of this Lease, Tenant shall surrender the Premises to Landlord in the then-existing condition of the Premises.
Tenant and Landlord shall schedule a walk-through inspection of the Premises at least thirty (30) days in advance of the expiration
date of the Lease. Landlord shall have the right to identify which furniture and any other tangible personal property on the Premises
that Landlord requires Tenant to remove at the time Tenant vacates the Premises. In the event that Tenant fails to remove such
identified property by the expiration or termination of this Lease, then such property shall be considered abandoned and, at Landlord’s
election, be deemed the property of Landlord (except for any tangible personal property utilized by Tenant pursuant to easements,
leases, or licenses, provided that if such property is not removed by the expiration of the Lease Term, Landlord shall have the
right to remove the same at Tenant’s reasonable expense), and Landlord shall have the option to remove and dispose of the
same, and Tenant shall pay the reasonable, out-of-pocket costs of such removal to Landlord upon demand. Tenant shall execute an
 “as is” Bill of Sale conveying Tenant’s interest in property that Landlord has elected to assume at the expiration
of the Term, and any other reasonable documentation necessary to transfer ownership thereof.

 

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		7.	Alterations. Tenant shall not make or suffer or allow to be made any alterations,
additions or improvements in or to the Premises (collectively, “Alterations”) without first obtaining Landlord’s
written consent based on plans and specifications (which may be preliminary) submitted by Tenant, which consent shall not be unreasonably
withheld, conditioned or delayed. Notwithstanding the foregoing, without prior consent from Landlord, Tenant shall be permitted
to make interior, non-structural Alterations to the Premises (but not structural or exterior portions of the improvements) that
do not adversely affect the roof, or the heating, ventilating, air-conditioning, mechanical, electrical, plumbing or life safety
systems of the Premises, provided that the total cost to acquire and install the proposed Alterations is no more than (i) $100,000
in any one instance and (ii) $250,000 in the aggregate during any calendar year.

 

		8.	Signs.

 

		a.	Tenant shall not affix any signs or other advertising materials to the Premises without the prior
written consent of the Landlord, which may be withheld in Landlord’s reasonable discretion. Existing signage is hereby approved.

 

		b.	Landlord shall not affix any signs or other advertising materials to the Premises, except that
Landlord shall have the right to place a “For Lease” sign on the Premises during the last (six) 6 months of the Term
or a “For Sale” sign on the Premises if Landlord desires to sell the Premises.

 

		9.	Utilities, Telephone, and Generator. Tenant is currently in possession of the Premises
and acknowledges that the utilities currently serving the Premises are sufficient for Tenant’s use. Tenant shall pay directly
to the utility provider when due for the consumption of all utilities used in the Premises during the Term. Tenant shall at all
times have the right to access and utilize any generators that service the Premises. In the event any utility shall become unavailable
at the Premises, Landlord shall reasonably cooperate with Tenant to get such utility restored as soon as reasonably practicable.

 

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		10.	Insurance. Tenant shall maintain the insurance policies set forth on Exhibit B
hereto. Landlord will maintain: (i) commercial general liability insurance with limits of $1,000,000 per occurrence and $2,000,000
in the aggregate, and (ii) causes of loss-special form property insurance on the Premises with customary exclusions in the
amount of the full replacement cost thereof, including business interruption insurance or rent loss insurance in amount reasonably
determined by Landlord (“Landlord’s Insurance”). Landlord shall add Tenant as named additional
insured on the policies Landlord is required to carry hereunder. All liability insurance policies must delete the contractual liability
exclusion with respect to personal injury or damage to property. All property insurance policies must waive subrogation against
the Tenant and Tenant related parties. Any insurance carried by Landlord may be in the form of one or more blanket insurance policy(ies)
covering multiple properties. For each month during the Term, Tenant shall make a payment to Landlord (an “Insurance
Payment”) in an amount equal to one-twelfth (1/12) of the Insurance Expenses (as hereinafter defined) for the calendar
year in question as reasonably estimated by Landlord. The Insurance Payments are intended to reimburse Landlord for the actual
Insurance Expenses accruing during the Term for the Premises. For purposes herein, “Insurance Expenses”
shall mean the premiums, commercially reasonable deductibles of not more than $50,000 per occurrence, and other expenses incurred
by Landlord for Landlord’s Insurance, but in no event shall Tenant be required to reimburse Landlord, and Insurance Expenses
shall exclude, environmental coverage, mold coverage, terrorism coverage, pollution coverage and all other special coverages and/or
endorsements that Landlord, in Landlord’s reasonable discretion, may from time to time consider appropriate in connection
with Landlord’s ownership, management or operation of the Premises. When the actual amount of Insurance Expenses for an applicable
calendar year are determined by Landlord, Landlord or Tenant, as applicable, will pay to the other such amounts as may be appropriate
to reconcile Tenant’s payment of estimated Insurance Expenses based on actual Insurance Expenses, within thirty (30) days
after written demand together with commercially reasonable evidence of the final amounts demanded. In the event Landlord shall
fail to carry any of the policies required by this Lease, or fails to carry such policies in the form required hereunder, Tenant
may purchase such policies on behalf of Landlord and Tenant shall not be responsible for payment of any Insurance Expenses related
to such policies for so long as Tenant shall maintain such policies on behalf of Landlord.

 

		11.	Taxes. During the Term, Tenant shall pay prior to delinquency
all real property taxes and assessments assessed against the Premises; provided, however, (i) upon prior written notice to
Landlord, Tenant shall have the right to contest such taxes and assessments as long as in no event shall Tenant permit the commencement
of foreclosure proceedings against the Premises, and (ii) Tenant may pay any assessments over the longest period of time allowed
by applicable law prior to delinquency. Landlord shall reasonably cooperate with Tenant in connection with any tax contest. Real
property taxes and assessments with respect to the Premises for a billing period during which Tenant’s obligations pursuant
to this Lease expire or terminate as to the Premises shall be adjusted and prorated on a daily basis between Landlord and Tenant,
whether or not such tax or assessment is imposed before or after such expiration or termination of this Lease. Within thirty (30)
days after the expiration of the Term, Landlord shall reimburse Tenant for all real property taxes and assessments paid by Tenant
for the remainder of that calendar year (it being agreed that Tenant may pay all taxes for such year, subject to the aforesaid
reimbursement). This obligation shall survive the expiration of this Lease. Landlord shall have the right, at Landlord’s
expense (y) to seek a reduction in the valuation of the Premises and/or any portion or part thereof assessed for tax purposes
if, within thirty (30) days after delivery of written notice by Landlord to Tenant, Tenant fails to commence a proceeding to secure
such reduction; and/or (z) to participate in any such proceeding commenced by Tenant. Tenant
agrees to indemnify and hold Landlord, its OFFICERS, DIRECTORS, PARTNERS,
EMPLOYEES, AGENTS and the Landlord Parties harmless from and against any costs or expenses (including
reasonable attorneys’ fees) or liabilities in connection with any such tax contest proceeding if such proceeding has been
requested or initiated by Tenant. The foregoing indemnity by Tenant shall not be applicable
if Landlord voluntarily elects to participate in such proceeding. The foregoing indemnity shall expressly survive the expiration
or sooner termination of this Lease. Landlord and Tenant shall use commercially reasonable efforts to have the tax assessor send
tax bills directly to Tenant and Tenant shall provide a copy thereof within ten (10) days after receipt. In the event the
parties are unable to transfer receipt of the tax bill to Tenant, then within ten (10) days after Landlord’s receipt
thereof, Landlord shall deliver to Tenant copies of any tax or assessment statements that it receives with respect to the Premises,
and if Landlord fails to provide any such statement and, as a result of such failure, Tenant does not timely pay taxes, then Landlord
shall be responsible for any fees, penalties, or similar charges with respect to the associated taxes or assessments. Otherwise,
Tenant shall be responsible for any fees, penalties, or similar charges with respect to the associated taxes or assessments.

 

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		12.	WAIVER OF SUBROGATION. RELEASE FROM OWN NEGLIGENCE (BUT NOT GROSS NEGLIGENCE OR INTENTIONAL
MISCONDUCT): ANYTHING TO THE CONTRARY IN THIS LEASE NOTWITHSTANDING, NEITHER PARTY, NOR ITS OFFICERS, DIRECTORS, PARTNERS,
EMPLOYEES, AGENTS OR INVITEES (EACH, A "RELEASED PARTY") SHALL BE LIABLE TO THE OTHER PARTY OR TO
ANY INSURANCE COMPANY (BY WAY OF SUBROGATION OR OTHERWISE) INSURING THE OTHER PARTY FOR ANY LOSS OR DAMAGE TO ANY BUILDING STRUCTURE
OR OTHER TANGIBLE PROPERTY (INCLUDING, WITHOUT LIMITATION, EQUIPMENT) ON THE PROPERTY, OR LOSS OF BUSINESS OR RENTAL INCOME IN
CONNECTION WITH THE PROPERTY, EVEN THOUGH SUCH LOSS OR DAMAGE MIGHT HAVE BEEN OCCASIONED BY THE NEGLIGENCE OF ANY RELEASED PARTY
(THIS CLAUSE SHALL NOT APPLY, HOWEVER, TO ANY DAMAGE CAUSED BY THE GROSS NEGLIGENCE OR THE INTENTIONAL MISCONDUCT OF THE RELEASED
PARTY). EACH PARTY REPRESENTS AND COVENANTS THAT IT SHALL OBTAIN APPROPRIATE WAIVERS OF SUBROGATION IN ITS PROPERTY INSURANCE POLICIES
THAT IT MAY ELECT TO CARRY. THIS SECTION RELEASES A PARTY FOR THE CONSEQUENCES OF ITS OWN NEGLIGENCE (EXCLUSIVE OF
GROSS NEGLIGENCE). PARTIES NAMED HEREIN NOT SIGNING THIS LEASE ARE EXPRESS AND INTENDED THIRD PARTY BENEFICIARIES OF THIS WAIVER
OF SUBROGATION.

 

		13.	Assignment & Subletting. Except as provided herein, Tenant shall not assign
or in any manner transfer this Lease or any estate or interest hereunder and shall not sublease the Premises or any part thereof
without the prior written consent of Landlord, which shall not be unreasonably withheld, conditioned, or delayed. As part of Tenant’s
request for, and as a condition to, Landlord’s consent to such assignment or sublease, Tenant shall provide Landlord with
financial statements for the proposed transferee and such other information as Landlord may reasonably request. Tenant shall not
be entitled to receive monetary damages based upon a claim that Landlord unreasonably withheld its consent to a proposed transfer
to a third party and Tenant’s sole remedy shall be an action to enforce any such provision through specific performance or
declaratory judgment. Tenant shall reimburse Landlord for its actual reasonable costs and expenses incurred in connection with
such assignment or sublease request.

 

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Notwithstanding anything in this
Lease to the contrary, so long as Tenant is not in default under this Lease beyond applicable notice and cure periods, the consent
of the Landlord need not be obtained if the assignment of the Lease is to a: (i) parent, subsidiary or affiliate of Tenant;
(ii) company with which Tenant may merge or consolidate; (iii) corporation that acquires all or substantially all of
the shares of stock or assets of Tenant; or (iv) to any corporation which is the successor corporation in the event of a corporate
reorganization (a “Related Entity”); provided, however, that (i) such Related Entity does not use
the Premises for any other use than the use permitted by this Lease, and (ii) with respect to an assignment to a Related Entity
described in subsections (ii) and (iii), such Related Entity has a tangible net worth equal to or greater than $10,000,000.00.
Landlord agrees that Tenant shall have the right, without Landlord’s consent, to sublease or license a portion of the Premises
to a Related Entity described in subsection (i) above, provided that such Related Entity does not use the Premises for any
other use than the use permitted by this Lease. Tenant shall give Landlord written notice at least ten (10) days prior to
the effective date of the proposed transfer, along with all applicable documentation and other information necessary for Landlord
to determine that the requirements of this Section 13 have been satisfied, including if applicable, the qualification of such
proposed transferee as an affiliate of Tenant or a Related Entity.

 

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		14.	Events of Default & Remedies. Each of the following occurrences shall constitute
an “Event of Default”: (a) Tenant’s failure to pay Fixed Rental, or any other sums due from Tenant
to Landlord under this Lease (provided, however, no such Event of Default shall occur under this subparagraph (a) unless Tenant
fails to pay any such sum within five (5) Business Days after receipt of a written notice of default from Landlord; provided,
however, that such notice shall not be required more than two (2) times in a given calendar year); (b) Tenant’s
failure to perform, comply with, or observe any other agreement or obligation of Tenant under this Lease, which failure is not
cured within thirty (30) days of written notice from Landlord (provided, however, if Tenant commences such cure within such 30-day
period and diligently pursues such cure, Tenant may have such additional time as may be reasonably necessary to effect such cure);
(c) Tenant’s failure to perform any of the obligations of Tenant in the manner set forth in Section 10, and such
failure continues for more than ten (10) days following Tenant’s receipt of Landlord’s written notice to Tenant
of the same; or (d) the admission by Tenant in writing that it cannot meet its obligations as they become due or the making
by Tenant of an assignment for the benefit of its creditors. Any Event of Default shall be considered a breach of this Lease by
Tenant. In addition to any and all other rights or remedies Landlord may have in connection with this Lease, as provided by law
or equity, Landlord shall have the following rights and remedies upon the occurrence of any Event of Default: (a) without
terminating this Lease, to change the locks on the doors to the Premises and to exclude Tenant therefrom; (b) terminate this
Lease and take possession of the Premises and to re-let the Premises for the Landlord’s account (no termination of this Lease
shall relieve the Tenant of the obligation to pay any Fixed Rental or any other amounts due under the terms of this Lease prior
to termination) and recover the Landlord’s Liquidated Damages (as defined below); and (c) Landlord may terminate Tenant’s
right to possession of the Premises without terminating this Lease, reenter and take possession of the Premises and remove all
persons and property therefrom with or without process of law, without being deemed guilty of any manner of trespass and without
prejudice to any remedies for arrears of the Fixed Rental or other amounts due hereunder or existing breaches hereof, and lease,
manage, and operate the Premises and collect the rents, issues, and profits therefrom all for the account of Tenant, and credit
to the satisfaction of Tenant’s obligations under this Lease the net rental received (after deducting therefrom all reasonable
costs and expenses of repossessing, leasing, managing, and operating the Premises). The term “Landlord’s Liquidated
Damages” for purposes of this Section means the worth at the time of award by the court having jurisdiction
thereof of (i) the unpaid Fixed Rental and other charges and adjustments called for under the Lease which had been earned
at the time of termination, (ii) the amount by which the unpaid Fixed Rental and other charges and adjustments called for
under the Lease which would have been earned after termination until the time of award exceeds the amount of such Fixed Rental
loss for the same period which the Tenant proves could have been reasonably avoided, and (iii) the amount by which the unpaid
Fixed Rental and other charges and adjustments called for under this Lease for the balance of the term after the time of such award
exceeds the amount of such Fixed Rental loss for the same period that Tenant proves could be reasonably avoided. The worth at the
time of award of the sums referred to in subsections (i) and (ii) above, is computed by discounting such amount at the
discount rate of the Federal Reserve Bank of San Francisco at the time of award plus one percent (1%). In addition to the foregoing
remedies, Tenant shall be required to pay all expenses reasonably incurred by Landlord in enforcing its rights and remedies under
this Lease, including attorneys’ fees, court costs and interest at the lesser of ten percent (10%) or the maximum rate of
interest allowed by applicable law, and shall pay to Landlord the commercially reasonable costs, losses and expenses incurred by
Landlord in reletting all or any portion of the Premises, including the cost of removing and storing Tenant’s personal property
and other property, repairing the Premises, removing and/or replacing Tenant’s signage, and making the Premises ready for
a new tenant, including the cost of leasehold improvements. Upon any re-letting of the Premises by Landlord, all rent received
by Landlord shall be applied (i) first to the payment of any indebtedness other than rent or other charges due under this
Lease from Tenant, (ii) second to the payment of any reasonable and related costs and expenses of such re-letting (including
brokerage fees and attorney’s fees and costs of alterations and repairs), and (iii) third to the payment of all Fixed
Rental and other charges due and unpaid under this Lease. In no event shall the Tenant be entitled to receive any surplus of any
sums received by Landlord on re-letting the Premises, in excess of the rent and other charges payable under this Lease. In no event
shall Tenant be liable for consequential, punitive, exemplary or other damages (other than actual damages only) in connection with
this Lease. Landlord shall use commercially reasonable efforts to mitigate damages.

 

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		15.	Landlord’s Default. If Landlord defaults under this Lease, Tenant will give
Landlord written notice specifying such default with particularity, and Landlord shall thereupon have thirty (30) days in which
to cure any such default; provided, however, if Landlord commences such cure within such 30-day period and diligently pursues such
cure, Landlord may have such additional time as may be reasonably necessary to effect such cure. Unless and until Landlord fails
to so cure any default after such notice, Tenant shall not have any remedy or cause of action by reason thereof; provided, however,
in the event of a bona fide emergency to person or property, Tenant may cure such default and receive reimbursement for Tenant’s
reasonable third-party costs in affecting such cure within thirty (30) days after invoice. All obligations of Landlord hereunder
will be construed as covenants, not conditions. In no event shall Landlord be liable for consequential, punitive, exemplary or
other damages (other than actual damages only) in connection with this Lease. Tenant shall use commercially reasonable efforts
to mitigate damages. Landlord’s liability for failure to perform any of its obligations hereunder is hereby expressly limited
to Landlord’s interest in and to the Premises. Should Landlord fail to pay any sum required to be paid by Landlord hereunder,
or fail to perform any obligation required to be performed by Landlord hereunder, any judicial proceedings brought by Tenant against
Landlord shall be limited to proceeding against Landlord’s rights and interest in and to the Premises, and no attachment,
execution, or other writ or process shall be sought, issued, or levied upon any assets, properties, or funds of Landlord, other
than against Landlord’s interest in and to the Premises. Tenant hereby waives its statutory lien under Section 91.004
of the Texas Property Code. Notwithstanding anything contained in this Lease to the contrary, the obligations of Landlord under
this Lease (including any actual or alleged breach or default by Landlord) do not constitute personal obligations of Landlord or
the individual partners, directors, officers, members or shareholders of Landlord or against Landlord’s partners or any other
persons or entities having any interest in Landlord, or any of their personal assets for satisfaction of any liability with respect
to this Lease

 

		16.	Mechanics’ Liens. Tenant shall fully and promptly pay all sums necessary for
the costs or repairs, alterations, improvements, charges or other work done by Tenant on the Premises. Tenant shall indemnify and
hold Landlord harmless from and against any and all such costs and liabilities incurred by Tenant, and against any and all mechanics’,
materialmen’s, or laborers’ liens arising out of or from such work or the cost thereof which may be asserted, claimed
or charged against the Premises. This obligation shall survive the termination of this Lease.

 

		17.	Holding Over. If Tenant fails to vacate the Premises at the Termination Date, then
Tenant shall be a tenant at sufferance and Tenant shall pay as a daily Fixed Rental an amount equal to 1.2 times the daily Fixed
Rental payable during the last month of the Term. In no event shall Tenant be liable for damages in connection with any holdover
unless such holdover continues for a period of more than sixty (60) days. If Landlord is unable to deliver possession of the Premises
to a new tenant, or to perform improvements for a new tenant, as a result of Tenant’s holdover and Tenant fails to vacate
the Premises within sixty (60) days after Landlord notifies Tenant of Landlord’s inability to deliver possession, or perform
improvements, Tenant shall be liable to Landlord for all reasonable damages that Landlord suffers from the holdover.

 

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		18.	Notices. Any notice or other communication required or permitted to be given hereunder
shall be in writing and deemed to be delivered, whether actually received or not, (a) if hand delivered or post marked by
the U.S. Postal Service, postage prepaid, registered or certified mail, return receipt requested, upon deposit with the carrier,
(b) if sent by courier or express mail where evidence of delivery is retained, upon deposit, or (c) sent via electronic
mail as long as such notice is also simultaneously sent by one of the other methods approved hereunder. Any notice executed and
delivered by either party’s legal counsel (or any other authorized agent of such party) shall be fully effective as if the
same had been executed and delivered by such party. Landlord and Tenant may execute this Lease by electronic counterparts or PDF
counterparts delivered electronically, each of which shall be deemed an original for all purposes.

 

		19.	Indemnification.

 

		a.	Subject to Section 12 above, Tenant shall indemnify, defend and hold Landlord harmless from
any claim for injury to person or damage to property accruing during the Term of this Lease and occurring within, on or about the
Premises or arising from the negligence or intentional misconduct of Tenant, its agents, officers, employees, or contractors. For
the avoidance of doubt, this Section 19(a) does not cover an environmental claim.

 

		b.	Tenant agrees that Tenant shall not knowingly receive, accept, store, dispose or release any hazardous
or toxic substances on or in the Premises in violation of environmental laws, or transport any hazardous or toxic substances to
or from the Premises in violation of environmental laws, except materials used in Tenant’s ordinary course of business, and
any such materials will be stored, used, and disposed of in compliance with all environmental laws. Tenant shall indemnify, defend
and hold Landlord harmless from any claim relating to the environmental condition of the Premises accruing during the Term of this
Lease and caused by Tenant or its agents, employees, contractors, or invitees (each, a “Tenant Party”).
For the avoidance of doubt, Tenant shall have no liability to Landlord for any environmental condition of the Premises (or a related
claim) that (a) was not caused by a Tenant Party, or (b) existed or accrued prior to the Commencement Date, even if caused
by a Tenant Party, except to the extent a Tenant Party exacerbates such pre-existing condition.

 

These indemnity obligations shall
survive the termination of this Lease as to claims that accrued during the Term of this Lease. For Landlord’s indemnification
rights to remain effective, Landlord must notify Tenant in writing within sixty (60) days of receiving notice of the claim.

 

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		20.	Casualty and Condemnation. If (a) (i) more than fifty percent (50%) of
the square footage of the Premises cannot be used for the purposes contemplated by this Lease because of casualty, or (ii) more
than fifty percent (50%) of the square footage of the building located on the Premises cannot be used for the purposes contemplated
by this Lease because of condemnation or purchase in lieu of condemnation, and (b) Landlord reasonably estimates (“Landlord’s
Rebuild Estimate”) that such damage cannot be restored within two hundred seventy (270) days from the occurrence
of such event, then Landlord or Tenant may elect to terminate this Lease by providing written notification to the other on or before
sixty (60) days after delivery of Landlord’s Rebuild Estimate. Landlord shall deliver Landlord’s Rebuild Estimate no
later than thirty (30) days following the date of such casualty. Notwithstanding the foregoing, either party may terminate this
Lease (effective as of the date of the applicable event) if the Premises are damaged by casualty during the last twelve (12) months
of the Term and Landlord’s Rebuild Estimate indicates that it will require more than one hundred fifty (150) days from the
occurrence of such event to restore the Premises. If neither party elects to terminate this Lease as provided above or if neither
party has the right to terminate this Lease as provided above, then Landlord shall promptly commence to restore the Premises to
substantially the same condition that existed prior to the fire or other casualty (“Landlord’s Repair Obligation”),
exclusive of any Alterations, additions, improvements, fixtures and equipment installed by or on behalf of Tenant (whether before
or after the Commencement Date). Notwithstanding the foregoing, Landlord shall not be required to fulfill its Landlord’s
Repair Obligations to the extent that any lender requires that Landlord’s insurance proceeds be applied to the payment of
the mortgage debt or if the casualty is not a claim covered by insurance. Notwithstanding anything to the contrary contained herein,
if Landlord’s Repair Obligation has not been substantially completed within forty-five (45) days after the estimated restoration
date set forth in Landlord’s Rebuild Estimate (the last day of such 45-day period being the “Casualty Termination
Date”), Tenant shall have the right to terminate this Lease effective upon thirty (30) days’ prior written
notice to Landlord delivered within sixty (60) days after the Casualty Termination Date; provided, however, that such termination
shall be null and void if Landlord completes the Landlord’s Repair Obligations prior to the expiration of such sixty (60)
day period. If a casualty renders all or part of the Premises untenantable, Rent shall proportionately abate commencing on the
date of the casualty and ending when the Premises are delivered to Tenant with Landlord’s Repair Obligation substantially
complete. The extent of the abatement shall be based upon the portion of the Premises rendered untenantable, inaccessible or unfit
for use in a reasonable business manner for the purposes stated in this Lease. Tenant shall not be entitled to such abatement if
the fire or other casualty was caused by the intentional wrongful action of Tenant, its employees, agents, or contractors. In the
event that this Lease is terminated as set forth herein, the Fixed Rental shall be apportioned as of the date of the damage and,
provided Tenant is not in default, Tenant shall be entitled to a refund from Landlord of amounts for the Fixed Rental or other
charges prepaid by Tenant to Landlord for the period arising after the date of the casualty. Tenant will have no claim to insurance
proceeds with respect to insurance policies maintained by Landlord, condemnation award or proceeds in lieu of condemnation; provided
that in the event of a casualty, Tenant shall be permitted to retain any insurance proceeds payable under any policy carried by
Tenant. Tenant may separately pursue a claim (to the extent it will not reduce Landlord’s award or prohibit Landlord from
claiming any award otherwise available to Landlord, including loss of lease value) against the condemnor for the value of Tenant’s
personal property taken, loss of leasehold interest, moving costs and loss of business.

 

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		21.	Miscellaneous.

 

		a.	Nothing herein contained shall be deemed or construed by the parties hereto, nor by any third party,
as creating the relationship of principal and agent or of partnership or of joint venture between Landlord and Tenant, it being
understood and agreed that neither the method of computation of Fixed Rental, nor any other provisions contained herein, nor any
acts of the parties hereto, shall be deemed to create any relationship between the parties hereto other than the relationship of
landlord and tenant.

 

		b.	Within thirty (30) days after the request of the other, at any time and from time to time, both
Landlord and Tenant agree to execute, acknowledge and deliver an estoppel certificate certifying that (i) this Lease is in
full force and effect, (ii) the date through which Fixed Rental and other charges due hereunder have been paid and (iii) to
such party’s knowledge, that no default by Landlord or Tenant, as appropriate, has occurred hereunder or specifying the nature
of any such default.

 

		c.	Each of the parties represents and warrants that there are no unpaid claims for brokerage commission
or finder’s fees in connection with the execution of this Lease, and each agrees to indemnify the other against, and hold
it harmless from, all liabilities arising from any such claim (including without limitation, the cost of legal fees in connection
therewith). This obligation shall survive the termination of this Lease.

 

		d.	The laws of the state in which the Premises is located shall govern the interpretation, validity,
performance and enforcement of this Lease (without reference to choice of law principles).

 

		e.	Each provision of this Lease shall be construed in such manner as to give such provision the fullest
legal force and effect possible. To the extent any provision herein (or part of such provision) is held to be unenforceable or
invalid when applied to a particular set of facts, or otherwise, the unenforceability or invalidity of such provision (or part
thereof) shall not affect the enforceability or validity of the remaining provisions hereof (or of the remaining parts of such
provision), which shall remain in full force and effect, nor shall such unenforceability or invalidity render such provision (or
part thereof) would be held legally enforceable and/or valid.

 

		f.	Notwithstanding anything to the contrary, in no event shall Landlord or Tenant be liable for consequential,
punitive, exemplary or other damages (above and beyond actual damages only) in connection with this Lease.

 

    11 

     

    

 

		g.	In the event of litigation hereunder, the prevailing party shall be entitled to an award of its
reasonable attorney’s fees. Landlord and Tenant agree that should any suit, action or proceeding arising out of this Lease
be instituted by any party hereto, such suit, action or proceeding shall be instituted only in a state or federal court in the
county in which the Premises are located or, if no such court is located in that county, then in the state or federal court that
is closest to the Premises (the “Approved Jurisdiction”). Landlord and Tenant each consent to the in
personam jurisdiction of any state or federal court in the Approved Jurisdiction, and waive any objection to the venue of any
such suit, action or proceeding. This Section 22(h) shall survive the expiration or termination of this Lease.

 

		22.	Delivery of the Premises. Tenant acknowledges and agrees the Premises are delivered
by Landlord and accepted by Tenant in its present “AS IS, WHERE IS, WITH ALL FAULTS” condition as of
the Commencement Date. Tenant acknowledges that it has been provided access and ample opportunity to inspect the Premises and
its existing condition, improvements and systems and, except as expressly provided otherwise in this Lease, is not relying upon
any warranty or representation of Landlord or its agents regarding the condition, adequacy or suitability of the same for Tenant’s
intended purpose, LANDLORD HEREBY EXPRESSLY DISCLAIMING ANY SUCH WARRANTY. Landlord shall have no liability or obligation
to any Tenant Party for any pre-existing environmental condition existing as of the Effective Date, except to the extent Landlord,
its affiliates, agents or contractors exacerbate such condition.

 

		23.	No Contractual or Statutory Lien. Landlord hereby waives any contractual or statutory
lien on the goods, wares, or equipment of Tenant located at the Premises.

 

		24.	Attornment. Tenant shall, in the event any proceedings are brought for the foreclosure
of, or in the event of the exercise of the power of sale under any mortgagee made by Landlord covering any part of the Premises,
attorn to the purchaser upon any such foreclosure or sale and recognize such purchaser as Landlord under this Lease.

 

		25.	Priority of Lease. Upon written request of Landlord or the holder or of a proposed
holder of any mortgage now or hereafter covering or to cover any part of the Premises, Tenant will subordinate its rights under
this Lease to the lien of such mortgage and to all advances made or to be made upon the security thereof, and Tenant shall, within
ten (10) business days after written demand therefor, execute, acknowledge, and deliver an instrument, in the form customarily
used by such encumbrance holder, and reasonably satisfactory to Tenant, effecting such subordination; provided, however, as a condition
to such subordination, Landlord shall cause such lienholder to sign a commercially reasonable subordination and non-disturbance
agreement.

 

    12 

     

    

 

		26.	OFAC. Landlord hereby represents and warrants to Tenant that Landlord is not acting,
directly or indirectly for, or on behalf of, any person, group, entity or nation named by any Executive Order of the President
of the United States of America (including the September 24, 2001, Executive Order Blocking Property and Prohibiting Transactions
With Persons Who Commit, Threaten to Commit, or Support Terrorism) or the United States Treasury Department, as a terrorist, “Specially
Designated National and Blocked Person,” or other banned or blocked person, entity, or nation pursuant to any law that is
enforced or administered by the United States Office of Foreign Assets Control, and is not engaging in this transaction, directly
or indirectly, on behalf of, or instigating or facilitating this transaction, directly or indirectly, on behalf of, any such person,
group, entity or nation.

 

[Remainder of Page Intentionally Blank]

 

    13 

     

    

 

EXECUTED on
the dates set forth below to be effective as of the date first above written.

 	 	TENANT:
	 	 	 
	 	 	 
	 	TUESDAY
    MORNING, INC., a Texas corporation
	 	 	 
	 	By: 	/s/ Steven R. Becker
	 	Name:	Steven R. Becker
	 	Title: 	Chief Executive Officer
	 	 	 
	 	Address:
	 	 	 
	 	6250 LBJ Freeway
	 	Dallas, Texas 75240
	 	Attention: Jim Spisak
	 	E-Mail: jspisak@tuesdaymorning.com &
	 	legal@tuesdaymorning.com
	 	 	 
	 	With a copy to:
	 	 	 
	 	Haynes and Boone LLP
	 	2323 Victory Avenue, Suite 700
	 	Dallas, Texas 75219
	 	Attention: Brack Bryant
	 	E-mail: brack.bryant@haynesboone.com

 

Signature Page to Lease

 

    

     

    

 

	 	LANDLORD:
	 	 	 
	 	6250
    LBJ Freeway, LP, a Texas limited partnership
	 	 	 
	 	By: 	6250 LBJ Freeway GP, LLC                          
	 	 	a Texas limited liability company,
	 	 	its General Partner
	 	 	 
	 		By: 	/s/ Michael C. O’Malley
	 		Name: Michael C. O’Malley
	 		Title: Manager
	 	 	 
	 	Address:
	 	 	 
	 	6250 LBJ Freeway, LP
	 	3800 N. Lamar Blvd, Suite 350
	 	Austin, Texas 78756
	 	Attention: Brett Zimmerman
	 	Email: bzimmerman@pennybackercap.com
	 	 	 
	 	With a copy to:
	 	 	       
	 	Jackson Walker L.L.P.
	 	100 Congress Ave., Suite 1100
	 	Austin, Texas 78701
	 	Attention: Kati Orso
	 	E-mail: korso@jw.com

 

Signature Page to Lease

 

    

     

    

 

EXHIBIT A

 

LEGAL DESCRIPTION

 

BEING
4.883 acre (212,701 square foot) tract of land situated in the Thomas Dykes Survey, Abstract No. 405 and the Mckinney &
Williams Survey, Abstract No. 1032, Dallas County, Texas, same being located in Block 7443, City of Dallas, Dallas County,
Texas and being a portion of the land conveyed to Tuesday Morning, Inc. by Special Warranty Deed recorded in Volume 2002205,
Page 1663, Deed Records, Dallas County, Texas (D.R.D.C.T.) and being more particularly described as follows:

 

BEGINNING
at a 1/2 inch iron rod with yellow plastic cap stamped “BEASLEY RPLS 4050” found for corner in the south line of Lyndon
B. Johnson Freeway/Interstate Highway 635 (a variable width public right-of-way), said road being the northernmost northwest corner
of said Tuesday Morning, Inc. tract and the northeast corner of Lot 1, Block A of 6200 L.B.J. Office Park, an addition to
the City of Dallas according to the plat recorded in Volume 84234, Page 1926 D.R.D.C.T.;

 

THENCE
North 88°06’13” East, along said south line of Lyndon B. Johnson Freeway/Interstate Highway 635 for a distance
of 23.21 feet to a 1/2 inch iron with orange plastic cap stamped “P&C 100871” set for corner;

 

THENCE
North 85°05’23” East, continuing along said south line of Lyndon B. Johnson Freeway/Interstate Highway 635 for
a distance of 267.87 feet to a 1/2 inch iron rod with orange plastic cap stamped “P&C 100871” set for corner;

 

THENCE
North 89°18’53” East, continuing along said south line of Lyndon B. Johnson Freeway/Interstate Highway 635 for
a distance of 116.99 feet to a corner on an electric vault, said corner being at the intersection of said south line of Lyndon
B. Johnson Freeway/Interstate Highway 635 and the west line of Hughes Lane (a 60-foot-wide public right-of-way);

 

THENCE
South, along said west line of Hughes Lane for a distance of 300.11 feet to an “x” cut in concrete found for corner;

 

THENCE
South 00°23’32” West, continuing along said west line of Hughes Lane for a distance of 174.17 feet to a 1/2 inch
iron rod with orange plastic cap stamped “P&C 100871” set for corner in the north line of a 15 foot wide alley;

 

THENCE
South 89°46’20” West, departing said west line of Hughes Lane and along said 15 wide alley for a distance of 578.75
feet to a 1/2 inch iron rod with orange plastic cap stamped “P&C 100871” set for corner in the east line of aforementioned
Lot 1;

 

THENCE
North 00°19’49” East, along said east line of Lot 1 for a distance of 136.96 feet to a 1/2 inch iron rod found
for corner;

 

THENCE
South 89°53’46” East, continuing along said east line of Lot 1 for a distance of 172.29 feet to a 1/2 inch iron
rod found for corner;

 

     Ex. A-1

     

    

 

THENCE North 00°02’11”
West, continuing along said east line of Lot 1 for a distance of 314.84 feet to the POINT OF BEGINNING and containing 4.883 acres,
or 212,701 square feet of land, more or less.

 

     Ex. A-2

     

    

 

EXHIBIT B

 

TENANT INSURANCE REQUIREMENTS

 

Tenant, at its sole
cost and expense, shall procure and maintain throughout the Term of the Lease the following policies of insurance (which may be
part of umbrella policies):

 

(a)                 property
insurance causing Tenant's leasehold improvements and business personal property (sometimes also referred to as "fixtures
and contents") at the Premises to be insured under the broadest available special form of property coverage, sometimes referred
to as "all-risk" coverage (such as the form identified as CP 10 30, and any successor form, published by Insurance
Services Office, Inc.), such insurance coverage (i) to be in the full amount of the replacement cost of all insured
property, (ii) to include coverage for the loss of business income, in an amount deemed reasonable by Tenant, (iii) to
contain no deductible or self-insured retention in excess of $100,000.00 (iv) to contain no coinsurance penalty clause,
and (v) to include a waiver or subrogation in favor of Landlord; and

 

(b)                 combination
of commercial general liability and umbrella insurance insuring both Landlord and Tenant against all claims, demands or actions
for bodily injury, property damage, personal and advertising injury arising out of or in connection with Tenant's use or occupancy
of the Premises, or by the condition of the Premises, with a limit of not less than $10,000,000 per occurrence and aggregate (and
no offset for occurrences on property other than the Premises), and with coverage for contractual liability naming Landlord as
Additional Insured and to include a waiver of subrogation in favor of the Landlord; and

 

(c)                 worker's
compensation insurance insuring against and satisfying Tenant's obligations and liabilities under the worker's compensation laws
of the state where the Premises is located, together with employer's liability insurance in an amount not less than $1,000,000.00
each accident, $1,000,000.00 disease policy limit, and $1,000,000.00 disease each employee; the full limits of insurance are to
apply per location, and include a waiver of subrogation in favor of Landlord; and

 

(d)                 automobile
liability insurance covering all owned, non-owned, and hired vehicles with a $1,000,000 per accident limit for bodily injury and
property damage;

 

(e)                 during
any period when construction work is being done in or on the Premises, such additional insurance as Landlord may reasonably require;
and

 

(f)                 business
interruption insurance in the unallocated amount of at least $10,000,000; and

 

(g)                 All
policies must be written by insurance companies whose rating in the most recent Best’s Rating Guide is not less than A(-):
VII; and

 

(h)                 Certificates
of Insurance evidencing the required coverages must be delivered to Landlord prior to the commencement of the Lease.

 

     Ex. B-1

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