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Document

Exhibit 10.3

THIRD AMENDMENT TO FOURTH AMENDED 
AND RESTATED CREDIT AGREEMENT

THIS THIRD AMENDMENT TO FOURTH AMENDED AND RESTATED CREDIT AGREEMENT (this “Amendment”) dated as of May 1, 2020, is among: BLACK STONE MINERALS COMPANY, L.P., a Delaware limited partnership, as Borrower;  BLACK STONE MINERALS, L.P., a Delaware limited partnership, as Parent MLP; the Lenders party hereto; and WELLS FARGO BANK, NATIONAL ASSOCIATION, as Administrative Agent.  Capitalized terms used herein but not otherwise defined herein have the meaning given such terms in the Credit Agreement.
RECITALS
Borrower, Parent MLP, Administrative Agent and Lenders are parties to that certain Fourth Amended and Restated Credit Agreement dated as of November 1, 2017, as amended by the First Amendment to Fourth Amended and Restated Credit Agreement dated as of February 7, 2018 and Second Amendment to Fourth Amended and Restated Credit Agreement dated as of October 31, 2018 (as amended, modified or supplemented to date, the “Credit Agreement”).
Section 1. Amendments to Credit Agreement.
1.1 Certain Defined Terms.  Section 1.02 of the Credit Agreement is hereby amended by adding the following defined terms in proper alphabetical order:
“Consolidated Cash Balance” means, at any time, the aggregate amount of cash, cash equivalents, marketable securities, treasury bonds and bills, certificates of deposit, investments in money market funds and commercial paper, in each case, held or owned by (whether directly or indirectly), credited to the account of, or otherwise reflected as an asset on the balance sheet of, the Parent MLP and its Consolidated Subsidiaries. 
 “Excess Cash” means the Consolidated Cash Balance (other than cash collateral in respect of Letters of Credit held by the Administrative Agent pursuant to Section 2.10(b)) in excess of the Excess Cash Threshold at any time, net of and reduced by, without duplication, (i) any cash set aside to pay in the ordinary course of business amounts then due and owing to third parties and for which Parent MLP and its Consolidated Subsidiaries have issued checks or initiated wires or ACH transfers (or will, within one (1) Business Day, issue checks or initiate wires or ACH transfers, and such amounts are disclosed in writing to the Administrative Agent, with reasonably detailed evidence thereof to the extent requested by the Administrative Agent) in order to pay such amounts, (ii) any cash constituting purchase price deposits held in escrow by or on behalf of Parent MLP or any of its Consolidated Subsidiaries pursuant to a binding and enforceable purchase and sale agreement with an unaffiliated third party containing customary provisions regarding the payment and refunding of such deposits, (iii) any cash or cash equivalents to be used by Parent MLP or any of its Consolidated Subsidiaries within five (5) Business Days to pay the purchase price for any Property to be acquired by Parent MLP or such Consolidated Subsidiary pursuant to a binding and 

enforceable purchase and sale agreement (a copy of which has been provided to the Administrative Agent) with an unaffiliated third party containing customary provisions regarding the payment of such purchase price, (iv) cash in an amount equal to the outstanding checks or initiated wires or ACH transfers issued by Parent MLP or any of its Consolidated Subsidiaries which have not yet been subtracted from the balance of the relevant accounts of Parent MLP or such Consolidated Subsidiary (which amounts are disclosed in writing to the Administrative Agent, with reasonably detailed evidence thereof to the extent requested by the Administrative Agent), and (v) any cash or cash equivalents described in the definition of “Excluded Accounts” which are held in any Excluded Account.
“Excess Cash Test Day” means (a) so long as no Event of Default or Deficiency has occurred and is continuing, the last Business Day of each calendar week and (b) at any time when any Event of Default or Deficiency has occurred and is continuing, each Business Day.
“Excess Cash Threshold” means, at any time, an amount equal to ten percent (10%) of the Aggregate Elected Revolving Commitment Amount at such time.
1.2 Revolving Loans.  The proviso at the end of the first sentence of Section 2.01(a) of the Credit Agreement is hereby amended by adding “(x)” immediately following “provided, however, that” and adding the following at the end thereof:
and (y) after giving pro forma effect to such Revolving Loans, and any application of the proceeds thereof on the date of such Revolving Loans, Parent MLP and its Consolidated Subsidiaries shall not have any Excess Cash.
1.3 Revolving Borrowings.  The reference to “and, in the case of Revolving Eurodollar Loans” in Section 2.02(a) of the Credit Agreement is hereby amended to refer instead to “and amount of Excess Cash, if any (after giving pro forma effect to such Revolving Borrowing and any application of the proceeds thereof on the date of such Revolving Borrowing), and, in the case of Revolving Eurodollar Loans”.
1.4 Mandatory Prepayments.  Section 2.07(b) of the Credit Agreement is hereby amended by adding a new clause (iv) at the end thereof, to read as follows: 
(iv) If, at the end of any Excess Cash Test Day, (A) there is any outstanding Revolving Loans or LC Exposure and (B) there is any Excess Cash, then the Borrower shall, on the next Business Day, (1) prepay the Revolving Loans in an aggregate principal amount equal to the lesser of the aggregate outstanding principal amount of all such Revolving Loans and the amount of such Excess Cash, and (2) if after prepaying all of the Revolving Loans there is both LC Exposure and Excess Cash, pay to the Administrative Agent on behalf of the Lenders an amount equal to the lesser of such LC Exposure and the remaining amount of Excess Cash to be held as cash collateral as provided in Section 2.10(b); provided that no such prepayment need be made under this Section 2.07(b)(iv) if the amount thereof would be less than $500,000; provided, further, 
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that all payments required to be made pursuant to this Section 2.07(b)(iv) must be made on or prior to the Termination Date.  To the extent that there are funds on deposit in, or credited to, any Deposit Account or other account maintained with the Administrative Agent (or any Affiliate thereof) or any Lender (or any Affiliate thereof) on any date that the Borrower is required to prepay Revolving Loans (and/or cash collateralize LC Exposure, as applicable) pursuant to this Section 2.07(b)(iv), the Borrower hereby irrevocably authorizes and instructs the Administrative Agent or such Lender to apply such funds to the prepayment of Revolving Loans (and/or cash collateralization of LC Exposure, as applicable). 
1.5 Conditions Precedent - Subsequent Loans and Letters of Credit.  The first sentence of Section 6.02 of the Credit Agreement is hereby amended by deleting “and” at the end of clause (d) thereof, inserting “; and” at the end of clause (e) thereof, and adding a new clause (f) immediately following clause (e) thereof, to read as follows:
(f) at the time of and immediately after giving effect to any Revolving Loans and any application of the proceeds thereof on the date of such requested Borrowing, Parent MLP and its Consolidated Subsidiaries shall not have any Excess Cash.
1.6 Excess Cash Information.  Article VIII of the Credit Agreement is hereby amended by adding a new Section 8.15 at the end thereof, to read as follows:
   8.15 Excess Cash Information.  Upon the request of the Administrative Agent, within one (1) Business Day of any such request, and on any Excess Cash Test Day on which Parent MLP or any Consolidated Subsidiary has any Excess Cash, the Borrower shall provide to the Administrative Agent, summary and balance statements, in a form reasonably acceptable to the Administrative Agent, for each Deposit Account, Securities Account or other account in which any of the Consolidated Cash Balance is held, credited or carried, together with a written statement setting forth a reasonably detailed calculation of Excess Cash, setting forth amounts excluded therefrom pursuant to the parenthetical set forth in the definition thereof.
1.7 Events of Default.  The two references to "Article IX" in Sec. 10.01(d) of the Credit Agreement are hereby amended to refer instead to "Section 8.09(d), Section 8.15 or Article IX".
1.8 Acknowledgment Regarding Any Supported QFCs.  Article XII of the Credit Agreement is hereby amended by adding a new Section 12.21 at the end thereof, to read as follows:
Section 12.21.  Acknowledgement Regarding Any Supported QFCs.  To the extent that the Loan Documents provide support, through a guarantee or otherwise, for Hedging 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 FDIC under the Federal Deposit Insurance Act and Title II of the Dodd-Frank Wall Street Reform and 
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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): 
(a) 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. Without limitation of the foregoing, it is understood and agreed that rights and remedies of the parties with respect to a Defaulting Lender shall in no event affect the rights of any Covered Party with respect to a Supported QFC or any QFC Credit Support.  
(b) As used in this Section 12.21, the following terms have the following meanings:
“BHC Act Affiliate” of a party means an “affiliate” (as such term is defined under, and interpreted in accordance with, 12 U.S.C. 1841(k)) of such party.
“Covered Entity” means 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).
“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.
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“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).
1.9 Exhibits.  Exhibit B-1 to the Credit Agreement is hereby amended its entirety to read as set forth in Exhibit B-1 attached hereto. 
Section 2. Borrowing Base.
2.1 Pursuant to Section 2.08(d) of the Credit Agreement, Administrative Agent hereby notifies Borrower and Revolving Lenders that pursuant to the April 1, 2020 Scheduled Redetermination of the Borrowing Base pursuant to Section 2.08(c) of the Credit Agreement, from and after the date hereof until the next redetermination of the Borrowing Base, the amount of the Borrowing Base shall be $460,000,000.  
Section 3. Miscellaneous.
3.1 Confirmation.  The provisions of the Credit Agreement, as amended hereby, shall remain in full force and effect following the effectiveness hereof.
3.2 Ratification and Affirmation; Representations and Warranties.  Each of Borrower and Parent MLP hereby (a) ratifies and affirms each Loan Party’s obligations under, and acknowledges each Loan Party’s continued liability under, each Loan Document to which such Loan Party is a party and agrees that each Loan Document to which any Loan Party is a party remains in full force and effect as expressly amended hereby and (b) represents and warrants to Administrative Agent and Lenders that as of the date hereof, after giving effect to the terms hereof:
(i) all of the representations and warranties contained in each Loan Document to which any Loan Party is a party are true and correct in all material respects (unless otherwise qualified as to materiality), except to the extent any such representations and warranties are expressly limited to an earlier date, in which case, such representations and warranties shall continue to be true and correct as of such specified earlier date,
(ii) no Default or Event of Default has occurred and is continuing, and
(iii) no event or events have occurred which individually or in the aggregate could reasonably be expected to have a Material Adverse Effect.
3.3 Counterparts.  This Amendment may be executed by one or more of the parties hereto in any number of separate counterparts, and all of such counterparts taken together shall be deemed to constitute one and the same instrument.  Delivery of this Amendment by electronic transmission shall be effective as delivery of a manually executed counterpart hereof.
3.4 NO ORAL AGREEMENT.  THIS AMENDMENT, THE CREDIT AGREEMENT AND THE OTHER LOAN DOCUMENTS EXECUTED IN CONNECTION HEREWITH AND THEREWITH REPRESENT THE FINAL AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE CONTRADICTED BY 
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EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT UNWRITTEN ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES.
3.5 GOVERNING LAW.  THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF TEXAS.
3.6 Loan Document.  This Amendment is a Loan Document.
[Signature pages follow]

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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed as of the date first written above.
BLACK STONE MINERALS COMPANY, L.P., as Borrower

By: BSMC GP, L.L.C., its General Partner

By: Black Stone Minerals, L.P., its Sole Member

By: Black Stone Minerals GP, L.L.C.,
        its General Partner

By: /s/ Jeffrey P. Wood    
Name: Jeffrey P. Wood
Title: President and Chief Financial Officer

BLACK STONE MINERALS, L.P.,
as Parent MLP

By: Black Stone Minerals GP, L.L.C.,
        its General Partner

By: /s/ Jeffrey P. Wood    
Name: Jeffrey P. Wood
Title: President and Chief Financial Officer

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WELLS FARGO BANK, NATIONAL ASSOCIATION,
as Administrative Agent, Issuing Bank and a Lender

By: /s/ Carroll Cartwright    
Name: Carroll Cartwright
Title: Vice President

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BANK OF AMERICA, N.A.,
as a Lender

By: /s/ Alia Qaddumi    
Name: Alia Qaddumi
Title: Director

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BBVA USA,
as a Lender

By: /s/ Julia Barnhill    
Name: Julia Barnhill
Title: Vice President

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JPMORGAN CHASE BANK, N.A.,
as a Lender

By: /s/ Dalton Harris    
Name: Dalton Harris
Title: Authorized Officer

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ZB, N.A. DBA AMEGY BANK,
as a Lender

By: /s/ Sam Trail    
Name: Sam Trail
Title: Senior Vice President
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THE BANK OF NOVA SCOTIA, 
HOUSTON BRANCH,
as a Lender

By: /s/ Ryan Knape    
Name: Ryan Knape
Title: Director
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ABN AMRO CAPITAL USA LLC,
as a Lender

By: /s/ Darrell Holley    
Name: Darrell Holley
Title: Managing Director
By: /s/ Michaela Braun    
Name: Michaela Braun
Title: Executive Director
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COMERICA BANK,
as a Lender

By: /s/ Britney P. Geidel    
Name: Britney P. Geidel
Title: Portfolio Manager, AVP
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KEYBANK NATIONAL ASSOCIATION,
as a Lender

By: /s/ David M. Bornstein   
Name: David M. Bornstein
Title: Senior Vice President
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TEXAS CAPITAL BANK, N.A.,
as a Lender

By: /s/ Jamie Hibbert   
Name: Jamie Hibbert
Title: Vice President
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BOKF NA, DBA BANK OF TEXAS,
as a Lender

By: /s/ Taylor Morris   
Name: Taylor Morris
Title: VP - Energy Lending
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EXHIBIT B-1
FORM OF REVOLVING BORROWING, CONTINUATION AND CONVERSION REQUEST
______________, 20__
BLACK STONE MINERALS COMPANY, L.P., a Delaware limited partnership (the “Borrower”), pursuant to the Fourth Amended and Restated Credit Agreement dated as of November 1, 2017 (together with all amendments or supplements thereto, the “Credit Agreement”) among the Borrower, the Parent MLP, Wells Fargo Bank, National Association, as Administrative Agent and the other agents and lenders (the “Lenders”) which are or become parties thereto, and such Lenders makes the requests indicated below (unless otherwise defined herein, capitalized terms are defined in the Credit Agreement):
1. Revolving Borrowings:
(a) Aggregate amount of new Revolving Loans to be $______________________;
(b) Requested funding date is _________________, 20___;
(c) $_____________________ of such Revolving Borrowings are to be Revolving Eurodollar Loans;
$_____________________ of such Revolving Borrowings are to be Revolving Base Rate Loans; and
(d) Length of Interest Period for Revolving Eurodollar Loans is:
        ________________________
(e) Amount of Borrowing Base currently in effect: $______________________
(f) Amount of Aggregate Elected Revolving Commitment Amount in effect: $_________________
(g) Amount of outstanding Revolving Loans, LC Exposure and Swingline Exposure $______________________

(h) Available amount [least of (e), (f) or Aggregate Maximum Credit Amounts,
minus (g)]       $_____________________
[amount requested in (a) cannot exceed (h)]

(i) Amount of Excess Cash: $____________________
[cannot exceed 10% of the Aggregate Elected Revolving Commitment Amount]
Exhibit B-1 — Page 1
004255 000290 20115159.2

2. Continuation for Revolving Eurodollar Loans maturing on _____________________:
(a) Aggregate amount to be continued as Revolving Eurodollar Loans is $________________;
(b) Aggregate amount to be converted to Revolving Base Rate Loans is $_________________;
(c) Length of Interest Period for continued Revolving Eurodollar Loans is _________________.
3. Conversion of outstanding Revolving Base Rate Loans to Revolving Eurodollar Loans:
Convert $__________________ of the outstanding Revolving Base Rate Loans to Revolving Eurodollar Loans on ____________________ with an Interest Period of ______________________.
4. Conversion of outstanding Revolving Eurodollar Loans to Revolving Base Rate Loans:
Convert $__________________ of the outstanding Revolving Eurodollar Loans with Interest Period maturing on ____________________, 20__, to Revolving Base Rate Loans.
The undersigned certifies that he/she is the _____________________ of the General Partner, and that as such he is authorized to execute this certificate on behalf of the Borrower.  The undersigned further certifies, represents and warrants on behalf of the Borrower that the Borrower is entitled to receive the requested Revolving Borrowing, continuation or conversion under the terms and conditions of the Credit Agreement.
BLACK STONE MINERALS COMPANY, L.P.

By: BSMC GP, L.L.C.
        general partner

By: Black Stone Minerals, L.P.
        its Sole Member

By: Black Stone Minerals GP, L.L.C.
        its General Partner

By:      
Name:      
Title:      

Exhibit B-1 — Page 2
004255 000290 20115159.2Exhibit 10.1

 

Execution Version

 

HVF II SERIES 2013-A FORBEARANCE
AGREEMENT

 

This HVF II SERIES 2013-A
FORBEARANCE AGREEMENT, dated as of May 4, 2020 (this “Forbearance Agreement”), by and among The Hertz Corporation,
a Delaware corporation (“Hertz”), Hertz Vehicle Financing LLC (“HVF”), Hertz Vehicle Financing
II LP, a Delaware special purpose limited partnership (“HVF II”), whose general partner is HVF II GP Corp.,
a Delaware special purpose corporation, and whose limited partner is Hertz, DTG Operations, Inc., an Oklahoma corporation (“DTG”
and together with Hertz, HVF, and HVF II, the “Hertz Parties”), Deutsche Bank AG, New York Branch, as administrative
agent (the “Administrative Agent”), and the several financial institutions that serve as committed note purchasers,
the several commercial paper conduits, and certain funding agents for the investor groups, in each case, listed on Schedule
I hereto (collectively, the “Forbearing Noteholders” and, together with the Administrative Agent, the “Forbearing
Parties”).

 

Unless otherwise defined
herein, capitalized terms used herein shall have the meanings assigned (or incorporated by reference) thereto in the Sixth Amended
and Restated Series 2013-A Supplement, dated as of February 21, 2020 (the “Series 2013-A Supplement”), by and
among HVF II, The Bank of New York Mellon Trust Company, N.A. (“BNYM”), as trustee (the “Trustee”),
Hertz, as administrator, the Administrative Agent, certain committed note purchasers party thereto from time to time, certain conduit
investors party thereto from time to time, and certain funding agents for the investor groups party thereto from time to time,
to the Amended and Restated Group I Supplement, dated as of October 31, 2014 (as amended, modified or supplemented prior to the
date hereof, exclusive of Series Supplements, the “Group I Supplement”), to the Amended and Restated Base Indenture,
dated as of October 31, 2014 (as amended, modified or supplemented prior to the date hereof, exclusive of Group Supplements and
Series Supplements, the “Base Indenture”), each between HVF II and the Trustee.

 

RECITALS

 

WHEREAS, Hertz has informed
the Forbearing Parties of the recent, sudden and dramatic impacts of the COVID-19 pandemic on its business particularly and its
industry generally;

 

WHEREAS, pursuant to
the Group I HVF Lease, on each Payment Date, each Group I Lessee thereunder is obligated to pay HVF thereunder certain amounts
with respect to each Vehicle leased by such Group I Lessee during the Related Month with respect to such Payment Date (such amounts
payable by any Group I Lessee thereunder, the “Lessee Payment Obligations”);

 

WHEREAS, with
respect to the Payment Date occurring on April 27, 2020, Hertz has notified the Series 2013-A Noteholders that the Group I
Lessees (including, without limitation, Hertz and DTG) under the Group I HVF Lease may not pay any of the Lessee Payment
Obligations with respect to such Payment Date other than the Monthly Variable Rent (in an amount sufficient to cause the
payment of the Series 2013-A Monthly Interest and all interest on all other Group I Notes) payable by such Group I Lessees
with respect to such Payment Date and, as of the date hereof, Hertz has failed to pay such amounts (such failure to pay such
Lessee Payment Obligations other than such Monthly Variable Rent (in an amount sufficient to cause the payment of the Series
2013-A Monthly Interest and all interest on all other Group I Notes) with respect to such Payment Date, the
 “Specified Lease Payment Default”), which Specified Lease Payment Default would result in a Series 2013-A
Liquidation Event (following certain cure or grace periods as set forth in the Series 2013-A Related Documents);

 

    1

     

    

 

WHEREAS, Hertz has also
notified the Series 2013-A Noteholders that it may not pay (as guarantor, indemnitor or otherwise) and, as of the date hereof,
Hertz has not paid, any amounts payable by it under any Series 2013-A Related Document with respect to the Specified Lease Payment
Default (such failure to pay, the “Parallel Hertz Payment Default”, and together with the Specified Lease Payment
Default, the “Specified Lease Default”);

 

WHEREAS, the Hertz Parties
desire certain relief with respect to any Series 2013-A Liquidation Event that would occur as a result of a Specified Lease Default;

 

WHEREAS, the Hertz Parties
desire certain relief with respect to any Series 2013-A Liquidation Event that would occur as a result of the occurrence or continuance
of a Group I Aggregate Asset Amount Deficiency.

 

WHEREAS, the parties
hereto have agreed to enter into this Forbearance Agreement;

 

NOW THEREFORE, in consideration
of the premises and mutual covenants contained herein, the adequacy and sufficiency of which are hereby acknowledged, the parties
hereto agree as follows:

 

AGREEMENTS

 

SECTION 1.                 
Defined Terms. As used herein, the following terms shall have the respective meanings set forth below (except as set forth
herein, references to an agreement or document shall include the preamble, recitals, all attachments, schedules, annexes, exhibits
and joinders to such agreement or document, and are to such agreement or document (including all such attachments, schedules, annexes,
exhibits and joinders to such agreement or document) without giving effect to any amendments, supplements, restatements, or other
modifications):

 

“Alternate
LC Facility Waiver and Amendment” shall mean that certain waiver, forbearance and amendment, dated as of the date
hereof, by and among Hertz, the several banks and other financial institutions parties thereto as lenders and Goldman Sachs
Mortgage Company, as administrative agent and issuing lender in connection with that certain credit agreement, dated as of
December 13, 2019, among Hertz, the several banks and other financial institutions from time to time parties thereto and
Goldman Sachs Mortgage Company, as administrative agent and issuing lender.

 

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“Contractual
Obligation” means, as to any Person, any provision of any material security issued by such Person or of any material
agreement, instrument or other undertaking to which such Person is a party or by which it or any of its property is bound.

 

“Governmental
Authority” means any nation or government, any state or other political subdivision thereof and any entity exercising
executive, legislative, judicial, regulatory or administrative functions of or pertaining to government, including the European
Union.

 

“LC Facility
Waiver and Amendment” shall mean that certain waiver, forbearance and first amendment dated as of the date hereof by
and among Hertz, the several banks and other financial institutions parties thereto as lenders, Barclays Bank PLC, as administrative
agent and other parties party thereto in connection with that certain Letter of Credit Agreement, dated as of November 2, 2017,
among Hertz, the several banks and other financial institutions from time to time parties thereto, Barclays Bank PLC, as administrative
agent and as collateral agent and other parties thereto.

 

“Liquidity Report”:
as defined in Section 4(a)(ii).

 

“Person”
means an individual, partnership, corporation, limited liability company, business trust, joint stock company, trust, unincorporated
association, joint venture, Governmental Authority or other entity of whatever nature.

 

“Requirement
of Law” means as to any Person, the certificate of incorporation and bylaws or other organizational or governing documents
of such Person, and any law, statute, ordinance, code, decree, treaty, rule or regulation or determination of an arbitrator or
a court or other Governmental Authority, in each case applicable to or binding upon such Person or any of its material property
or to which such Person or any of its material property is subject, including laws, ordinances and regulations pertaining to zoning,
occupancy and subdivision of real properties; provided that the foregoing shall not apply to any non-binding recommendation of
any Governmental Authority.

 

“Material Adverse
Effect” means a material adverse effect on (a) the business, operations, property or condition (financial or otherwise)
of Hertz and the other Hertz Parties taken as a whole or (b) the validity or enforceability as to the Hertz Parties (taken as a
whole) of this Forbearance Agreement, the Series 2013-A Supplement and the other Series 2013-A Related Documents taken as a whole
or the rights or remedies of the Administrative Agent, the Series 2013-A Noteholders or the Trustee under the Series 2013-A Related
Documents taken as a whole.

 

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“Other
Events” means any Amortization Event, Series 2013-A Amortization Event, any Series 2013-A Liquidation Event, any
Group I Amortization Event, any Group I Leasing Company Amortization Event, any Additional Group I Amortization Event, any
Group I Liquidation Event, Series 2013-G1 Operating Lease Event of Default, any Series 2013-G1 Lease Payment Default and
Series 2013-G1 Amortization Event, any Group I Administrator Default, any Series 2013-G1 Administrator Default or any
Servicer Default, in each case, that is not a Specified Event or an Amortization Event that directly caused a Specified
Event.

 

“Senior Credit
Agreement” shall mean that certain Senior Credit Agreement, dated as of June 30, 2016 (as amended by the First Amendment,
dated as of February 3, 2017, the Second Amendment, dated as of February 15, 2017, the Third Amendment, dated as of November 2,
2017 and the Senior Credit Facility Waiver and Amendment), among Hertz, the subsidiary borrowers from time to time party thereto,
the several banks and other financial institutions from time to time parties thereto and Barclays Bank PLC, as administrative agent
and as collateral agent and other parties thereto.

 

“Senior Credit
Facility Waiver and Amendment” shall mean that certain waiver, forbearance and fourth amendment dated as of the date
hereof by and among Hertz, the several banks and other financial institutions parties thereto as lenders, Barclays Bank PLC, as
administrative agent and other parties party thereto in connection with the Senior Credit Agreement (prior to giving effect to
the Senior Credit Facility Waiver and Amendment).

 

“Series 2013-A
Monthly Interest” means the sum of the Class A Monthly Interest Amount, the Class B Monthly Interest Amount, the Class
C Monthly Interest Amount and the Class D Monthly Interest Amount.

 

“Sidecar Facility
Waiver and Amendment” shall mean that certain waiver, forbearance and first amendment, dated as of the date hereof, by
and among Hertz, the several banks and other financial institutions parties thereto as lenders, Credit Agricole Corporate and Investment
Bank, as administrative agent and other parties party thereto in connection with that certain credit agreement, dated as of June
30, 2016, among Hertz, the subsidiary borrowers from time to time parties thereto, the several banks and other financial institutions
from time to time parties thereto and Credit Agricole Corporate and Investment Bank, as administrative agent.

 

“Specified Events”
means any Series 2013-A Liquidation Event resulting solely from an Amortization Event arising out of (i) the Specified Lease Default,
(ii) the occurrence or continuance of a Group I Aggregate Asset Amount Deficiency or (iii) the failure to instruct the Trustee
to draw any Series 2013-A Letter of Credit on April 27, 2020 in respect of a Series 2013-A Lease Principal Payment Deficit resulting
from the Specified Lease Payment Default in accordance with Section 5.5(b) of the Series 2013-A Supplement.

 

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SECTION 2.                 
Forbearances.

 

(a)              
Subject to the terms of this Forbearance Agreement, the Forbearing Parties hereby agree to forbear (the “Forbearance”)
from exercising any of their default-related rights and remedies involving the sale or other liquidation of Group I Collateral
or Series 2013-G1 Collateral, the directing or otherwise consenting to the sale or other liquidation of Group I Collateral or Series
2013-G1 Collateral or the termination of Hertz's rights as Lessee under the Series 2013-G1 Lease (whether individual, collective
or otherwise) under any of the Series 2013-A Related Documents, or available at equity or law, in each case to the extent such
rights and remedies arise as a result of any of the Specified Events and solely during the period commencing on the date hereof
and ending on the Forbearance Termination Date.

 

(b)              
The Forbearing Parties hereby instruct (the “Direction”) BNYM (in all of its capacities under the Series
2013-A Related Documents), HVF (in its capacity as Lessor under the Group I HVF Lease) and HVF II (in its capacity as Series 2013-G1
Noteholder) each to forbear from directing or consenting to the exercise of any default-related rights or remedies involving the
sale or other liquidation of Group I Indenture Collateral or Series 2013-G1 Collateral (as defined in the HVF Series 2013-G1 Supplement),
the directing or otherwise consenting to the liquidation of Group I Indenture Collateral or Series 2013-G1 Collateral (as defined
in the HVF Series 2013-G1 Supplement) or the termination of Hertz's rights as Group I Lessee, in each case, to the extent such
rights and remedies arise as a result of any of the Specified Events to the same extent and for so long as the Forbearance Termination
Date has not occurred.

 

(c)              
HVF II hereby instructs BNYM to notify HVF II, Hertz and the Administrative Agent of any request or direction received by
BNYM to exercise remedies or otherwise take any action inconsistent with the Forbearance agreed to by the Forbearing Parties pursuant
to Section 2(a) hereof.

 

(d)              
For the avoidance of doubt and notwithstanding anything to the contrary herein, the parties hereto hereby acknowledge and
agree that none of the Forbearing Parties hereby forbears with respect to any of their rights or remedies except to the extent
expressly set forth in Section 2(a) hereof, and, except as specifically set forth in this Forbearance Agreement, neither
this Forbearance Agreement nor any actions taken in accordance with this Forbearance Agreement shall be construed as a waiver of
or consent to the Specified Events, any Specified Lease Default, the occurrence or continuance of a Group I Aggregate Asset Amount
Deficiency or any other existing or future defaults, events of default or other breaches or violations under the Series 2013-A
Related Documents (including, but not limited to, any Other Event).

 

    5

     

    

 

SECTION 3.                 
Representations and Warranties. To induce the other parties hereto to enter into this Forbearance Agreement, Hertz
and each other Hertz Party hereby represents and warrants, on the Forbearance Effective Date, to the Administrative Agent and each
other Forbearing Party that:

 

(a)              
Hertz and each other Hertz Party has the corporate or other organizational power and authority, and the legal right, to
make, deliver and perform this Forbearance Agreement, and each such Hertz Party has taken all necessary corporate or other organizational
action to authorize the execution, delivery and performance of this Forbearance Agreement. No consent or authorization of, filing
with, notice to or other similar act by or in respect of, any Governmental Authority or any other Person is required to be obtained
or made by or on behalf of any Forbearing Party in connection with the execution, delivery, performance, validity or enforceability
of this Forbearance Agreement, hereunder, except for consents, authorizations, notices and filings which the failure to obtain
or make would not reasonably be expected to have a Material Adverse Effect and the execution, delivery and performance by Hertz
and each other Hertz Party party hereto of this Forbearance Agreement will not violate any Requirement of Law or Contractual Obligation
of such Hertz Party in any respect that would reasonably be expected to have a Material Adverse Effect. This Forbearance Agreement
has been duly executed and delivered by each Hertz Party; and

 

(b)              
this Forbearance Agreement constitutes a legal, valid and binding obligation of Hertz and each other Hertz Party, enforceable
against such Hertz Party in accordance with its terms, except as enforceability may be limited by applicable domestic or foreign
bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the enforcement of creditors’ rights generally
and by general equitable principles (whether enforcement is sought by proceedings in equity or at law).

 

SECTION 4.                 
Covenants.

 

(a)              
Delivery of Information. During the Forbearance Period:

 

(i)                
Cash Flow Forecast. No later than 5:00 p.m. (New York time) on May 6, 2020, Hertz shall prepare and deliver to the
Administrative Agent and the Forbearing Noteholders a 13-week consolidated cash flow forecast in a form consistent with the internal
reports of Hertz provided to the Administrative Agent on April 27, 2020 (the “Cash Flow Forecast”), which shall
reflect Hertz’s good faith projection of all weekly cash receipts and disbursements in connection with the operation of its
business. In addition to any and all reporting requirements set forth in this Forbearance Agreement, by no later than 5:00 p.m.
(New York time) on Wednesday (or if any given Wednesday is not a Business Day, not later than 5:00 p.m. (New York time) on the
next Business Day) of each calendar week (commencing with May 13, 2020 until the Forbearance Termination Date), Hertz shall provide
to the Administrative Agent and the Forbearing Noteholders a report, in a form consistent with the internal reports of Hertz provided
to the Administrative Agent on April 27, 2020, comparing Hertz’s actual cash receipts and disbursements for the immediately
preceding week with the projected cash receipts and disbursements for such week as set forth in the Cash Flow Forecast.

 

    6

     

    

 

(ii)             
Weekly Projections. The Hertz Parties covenant and agree that, by no later than 5:00 p.m. (New York time) on Wednesday
(or if any given Wednesday is not a Business Day, not later than 5:00 p.m. (New York time) on the next Business Day) of each calendar
week (commencing with May 6, 2020 until the Forbearance Termination Date), Hertz shall, or shall cause any financial advisors,
consultants or investment bankers that are representing any or all of Hertz and its affiliates (collectively, the “Financial
Advisors”), to prepare and deliver to the Administrative Agent and the Forbearing Noteholders a liquidity report (the
 “Liquidity Report”), for the immediately preceding week, in a form consistent with the liquidity report of Hertz
provided to the Administrative Agent on April 27, 2020, which such report shall include information with respect to deposit and
other bank accounts of the Loan Parties and the Restricted Subsidiaries (each as defined in the Senior Credit Agreement) each which
maintain an average daily balance in excess of $2,500,000 and securities accounts of the Loan Parties and the Restricted Subsidiaries
each which maintain securities or other assets having an aggregate value in excess of $2,500,000 (the “Accounts”),
including (1) each Loan Party and Restricted Subsidiary that is the holder of an Account, (2) the balance of each Account as of
the date of such report and (3) whether each Account is located in the United States or a foreign jurisdiction.

 

(iii)           
Updated Monthly Report. Promptly following the date hereof (but in no event later than 3 days following the date
hereof), HVF shall prepare and deliver to the Administrative Agent and the Forbearing Noteholders an updated Monthly Noteholders’
Statement for the month of April with respect to the Series 2013-A Notes reflecting updated calculations presented as of April
27, 2020.

 

(iv)            
April 2020 Fleet Reporting. On or prior to 5:00 p.m. (New York time) on May 6, 2020 (or if such day is not a Business
Day, not later than 5:00 p.m. (New York time) on the next Business Day), Hertz shall prepare and deliver to the Administrative
Agent and the Forbearing Noteholders a fleet data report, in a form consistent with the quarterly fleet data packages historically
uploaded by Hertz to its ABS investor reporting website and described on such website as “Standard Investor Fleet Data Package.”

 

(v)              
Weekly Fleet Reporting. During the period prior to the Forbearance Termination Date, by no later than 5:00 p.m. (New
York time) on Wednesday (or if any given Wednesday is not a Business Day, not later than 5:00 p.m. (New York time) on the next
Business Day) of each calendar week, HVF II shall prepare and deliver to the Administrative Agent and the Forbearing Noteholders
certain reports, setting forth the substantive information (as of the immediately preceding Business Day) identified in the forms
attached as Exhibit A hereto.

 

    7

     

    

 

(b)               Participation
in Meetings. During the Forbearance Period, Hertz and the other Hertz Parties covenant and agree to hold and participate
in (and shall authorize and cause the Financial Advisors to participate in) a weekly conference call with the Administrative
Agent and its representatives and advisors, with such calls to be held at a time to be mutually agreed by Hertz and the
Administrative Agent, which discussions shall include, without limitation, a discussion regarding any plans to address the
Group I Aggregate Asset Amount Deficiency.

 

(c)              
Access to Information. Without limiting the Administrative Agent and the Series 2013-A Noteholders’ rights
under the Series 2013-A Supplement and other Series 2013-A Related Documents, during the Forbearance Period, Hertz and the Hertz
Parties each hereby covenant and agree to: (i) furnish to the Administrative Agent and its Representatives such financial, operating,
restructuring, liability management and property-related data and other information as such persons may reasonably request, and
(ii) irrevocably authorize and direct Hertz’s employees and Financial Advisor to cooperate reasonably with the Administrative
Agent and its Representatives in respect of the aforementioned clause (i). For purposes of this Section 4(c), the term “Representatives”
shall mean the Administrative Agent’s employees, agents, representatives, advisors and the Agent Financial Advisor. 

 

(d)              
Public Reporting. On or before the second (2nd) Business Day following the date of this Forbearance Agreement, Hertz
shall file a current report on Form 8-K disclosing all the material terms of the transactions contemplated by this Forbearance
Agreement in the appropriate manner under the Securities Exchange Act of 1934, as amended, and attaching this Forbearance Agreement
as an exhibit thereto.

 

(e)              
Third-Party Market Value Procedures. The Hertz Parties shall continue complying with the Series 2013-A Third-Party
Market Value Procedures in all material respects and shall promptly provide the Series 2013-A Non-Program Fleet Market Value and
the Series 2013-A Third-Party Market Value resulting therefrom to the Administrative Agent and the Forbearing Noteholders.

 

(f)               
Restricted Payments. Each of HVF and HVF II agree that until the Forbearance Termination Date:

 

(i)                
It shall not, directly or indirectly, voluntarily purchase, repurchase, redeem, defease or otherwise voluntarily acquire
or retire for value (x) any Indebtedness prior to scheduled maturity, scheduled repayment or scheduled sinking fund payment or
(y) any Capital Stock;

 

(ii)             
It shall not, directly or indirectly, make any distributions or dividends;

 

(iii)            Any
proceeds of any draw on the Series 2013-A Letters of Credit and the proceeds of any withdrawal from the Series 2013-A L/C
Cash Collateral Account with respect to any Series 2013-A Lease Principal Payment Deficit shall be deposited into the Series
2013-A Principal Collection Account and, on the date of such deposit into the Series 2013-A Principal Collection Account,
such amounts shall then be deposited into the Series 2013-A Reserve Account in accordance with clause (b) of Section 5.2 of
the Series 2013-A Supplement; and

 

    8

     

    

 

(iv)            
HVF II shall retain in the Series 2013-A Principal Collection Account any amounts available to be released to it pursuant
to clause (i) of Section 5.2 of the Series 2013-A Supplement on any Payment Date and shall apply such amounts on the following
Payment Date in accordance with such Section 5.2 as available funds on deposit therein.

 

(g)              
Forbearance Fee. HVF II agrees to pay to the Class A Funding Agent with respect to each Forbearing Noteholder the
 “Forbearance Fee” specified in the Forbearance Fee Letter, dated as of the date hereof, between Hertz and the Administrative
Agent (which amount, for the avoidance of doubt, represents a single, aggregate payment obligation to all Conduit Investors and
Committed Note Purchasers relating to such Forbearing Noteholder, regardless of Class or Investor Group).

 

(h)              
Expenses. During the Forbearance Period, Hertz shall pay (or cause to be paid), within one (1) Business Day of receipt
of an invoice, the reasonable and documented fees, charges and disbursements of (i) Latham & Watkins LLP, as counsel to the
Administrative Agent and (ii) Davis Polk & Wardwell LLP, as special bankruptcy counsel to the Administrative Agent.

 

(i)                
Most Favored Nation. Hertz hereby represents and warrants as of the Forbearance Effective Date none of the terms
(including, but not limited to, any compensation) offered to any Person with respect to the Alternate LC Facility Waiver Amendment,
the LC Facility Waiver and Amendment, the Senior Credit Facility Waiver and Amendment and the Sidecar Facility Waiver and Amendment
(each a “Waiver Document”) relating to the terms, conditions and transactions contemplated hereby, is or will
be more favorable to such Person than those afforded to the Forbearing Noteholders hereunder (as reasonably determined by Hertz
and the Administrative Agent, acting together). Hertz covenants and agrees from and after the Forbearance Effective Date that the
Series 2013-A Supplement and this Forbearance Agreement (as applicable) shall be, without any further action by any of the parties
party hereto, deemed amended and modified in an equivalent manner such that the Forbearing Parties shall receive the benefit of
the more favorable terms contained in any other Waiver Document as it relates to the terms, conditions and transactions contemplated
hereby. Notwithstanding the foregoing, Hertz agrees, at its expense, to take such other actions as the Administrative Agent may
reasonably request to further effectuate the foregoing.

 

    9

     

    

 

SECTION 5.                 
Conditions to Effectiveness of this Forbearance Agreement. This Forbearance Agreement shall become effective on the
date (such date, the “Forbearance Effective Date”) on which the following conditions have been satisfied or
waived:

 

(a)              
Execution of this Forbearance Agreement. The Administrative Agent (or its counsel) shall have received this Forbearance
Agreement executed and delivered by a duly authorized officer of the Hertz Parties, the Administrative Agent and the Required Controlling
Class Series 2013-A Noteholders.

 

(b)              
Representations and Warranties. The representations and warranties of Hertz and each other Hertz Party party hereto
set forth in Section 3 of this Forbearance Agreement are true and correct.

 

(c)              
[Reserved].

 

(d)              
Closing Certificate. The Administrative Agent shall have received a certificate signed by a duly authorized officer
of each Hertz Party as to the matters set forth in paragraph (b) of this Section 5.

 

(e)              
Execution and effectiveness of other documents. Substantially simultaneously with the effectiveness of this Forbearance
Agreement, the LC Facility Waiver and Amendment, the Alternate LC Facility Waiver and Amendment, the Senior Credit Facility Waiver
and Amendment and the Sidecar Facility Waiver and Amendment shall have become effective and shall be in full force and effect and,
in each case, shall be in form and substance reasonably satisfactory to the Administrative Agent.

 

SECTION 6.                 
Limited Forbearance. This Forbearance Agreement is limited precisely as written and shall not be deemed to (i) be
a waiver of or a consent to the modification of or deviation from any other term or condition of the Series 2013-A Supplement or
the other Series 2013-A Related Document or any of the other instruments or agreements referred to therein, or (ii) prejudice any
right or remedies not expressly subject to the Forbearance under Section 2(a) hereof which any of the Administrative Agent, the
Series 2013-A Noteholders or any other Person now have or may have in the future under or in connection with the Series 2013-A
Supplement or the other Series 2013-A Related Document or any of the other instruments or agreements referred to therein including,
but not limited, with respect to the Specified Events, any Specified Lease Default, the occurrence or continuance of a Group I
Aggregate Asset Amount Deficiency or any other existing or future defaults, events of default or other breaches or violations under
the Series 2013-A Related Documents (including, but not limited to, any Other Event).

 

    10

     

    

 

SECTION 7.                 
Termination. This Forbearance Agreement shall become effective on the Forbearance Effective Date, and shall terminate
and shall be void automatically, immediately and without further action as of the earliest to occur of any of the following (such
earliest date, the “Forbearance Termination Date” and, such period from and including the Forbearance Effective
Date to but excluding the Forbearance Termination Date, the “Forbearance Period”):

 

(i)                
11:59 P.M. (New York time) on May 22, 2020;

 

(ii)             
the occurrence of any Other Event;

 

(iii)           
if (x) any proceeds of any draw on the Series 2013-A Letters of Credit or (y) any proceeds of any withdrawal from the Series
2013-A L/C Cash Collateral Account with respect to any Series 2013-A Lease Principal Payment Deficit are not deposited into the
Series 2013-A Principal Collection Account or are not then deposited into the Series 2013-A Reserve Account in accordance with
clause (b) of Section 5.2 of the Series 2013-A Supplement, in each case, within two (2) Business Days of such draw or withdrawal;

 

(iv)         
the failure of Hertz or any other Hertz Party to comply timely with any term, condition, or covenant set forth in this Forbearance
Agreement and, with respect to the failure to (x) timely deliver the reports and statements to be provided in accordance with Section
4(a) of this Forbearance Agreement or (y) furnish the information or cooperation to be provided in accordance with Section 4(c)
of this Forbearance Agreement, in each case, such failure shall continue unremedied for a period of three (3) Business Days following
the date on which written notice of such failure is given to Hertz by the Administrative Agent; provided that, with respect to
the information provided in accordance with Section 4(a) or Section 4(c) of this Forbearance Agreement, it is understood that such
information is provided for informational purposes only and no breach of this clause (iv) will result as a result of such information;

 

(v)         
if any representation or warranty made by any Hertz Party in Section 3 hereof is inaccurate or incorrect or is breached
or is false or misleading as of the date made;

 

(vi)       
an Event of Bankruptcy occurs with respect to any Hertz Party;

 

(vii)     
the failure to pay on May 5, 2020, the invoiced reasonable and documented fees, charges and disbursements of Latham &
Watkins LLP, as counsel to the Administrative Agent;

 

(viii)    
the failure to pay on May 5, 2020 an amount of Monthly Variable Rent that was due on April 27, 2020 sufficient to cause
the payment of the Series 2013-A Monthly Interest and all interest on all other Group I Notes that was due on April 27, 2020; or

 

(ix)    
   the termination of any of (w) the Alternate LC Facility Waiver and Amendment, (x) the LC Facility Waiver and
Amendment, (y) the Sidecar Facility Waiver and Amendment or (z) Senior Credit Facility Waiver and Amendment (in each case, in
effect as of the date hereof) or, in each case, the termination of any waiver or forbearance by any lender or secured party
provided thereunder.

 

    11

     

    

 

The Hertz Parties each
agree that on and from the Forbearance Termination Date any or all of the secured parties (including the Forbearing Parties) may
at any time proceed to exercise any and all of the respective rights and remedies under the Series 2013-A Related Documents and/or
applicable law, including, without limitation, their respective rights and remedies with respect to the Specified Events. The Hertz
Parties further agree that nothing herein shall be construed to limit any rights or remedies available to the Series 2013-A Noteholders
pursuant to the Series 2013-A Related Documents in connection with the occurrence of any Other Event. Notwithstanding anything
herein to the contrary, Sections 4(e), 4(f), 9, 10, 11, 12, 13, 14, 16,
18, 19, 20 hereof shall survive the Forbearance Termination Date and the termination of this Forbearance Agreement.

 

SECTION 8.                 
Requisite Majority. The Forbearing Noteholders constitute both the Series 2013-A Required Noteholders and the Required
Controlling Class Series 2013-A Noteholders (and therefore, the Required Series Noteholders with respect to the Series 2013-A Notes).

 

SECTION 9.                 
Effect on Series 2013-A Related Documents.

 

(a)              
Each and every term, condition, obligation, covenant and agreement contained in the Series 2013-A Supplement or any other
Series 2013-A Related Document is hereby ratified and reaffirmed in all respects by the Hertz Parties and shall continue in full
force and effect in accordance with its terms and nothing herein can or may be construed as a novation thereof. Except as expressly
set forth herein with respect to the Forbearance, this Forbearance Agreement (i) shall not by implication or otherwise limit, impair,
constitute a waiver of or otherwise affect the rights and remedies of the Series 2013-A Noteholders, the Administrative Agent or
the Trustee under the Series 2013-A Supplement or any other Series 2013-A Related Documents, and (ii) shall not alter, modify,
amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in the Series 2013-A Supplement
or any other provision of the Series 2013-A Supplement or any other Series 2013-A Related Document. Each Hertz Party reaffirms
and ratifies on the Forbearance Effective Date the Group I Note Obligations and each of its other obligations under the Series
2013-A Supplement and the other Series 2013-A Related Documents to which it is party and the validity, enforceability and perfection
of the liens granted by it pursuant to the Series 2013-A Supplement and each other Series 2013-A Related Documents. Each of the
Hertz Parties hereby consents to this Forbearance Agreement and confirms that all obligations of such Hertz Party under the Series
2013-A Supplement and the other Series 2013-A Related Documents to which such Hertz Party is a party shall continue to apply to
such Series 2013-A Supplement and such other Series 2013-A Related Documents.

 

(b)       Without
limiting the foregoing, each of the Hertz Parties hereby (i) acknowledges and agrees that all of its obligations under the
Series 2013-A Supplement and the other Series 2013-A Related Documents to which it is a party are reaffirmed and remain in
full force and effect on a continuous basis, (ii) reaffirms each lien granted by such Hertz Party and reaffirms the
guaranties, if any, made by such Hertz Party, (iii) acknowledges and agrees that the grants of security interests by and the
guaranties, if any, of such Hertz Party contained in the Series 2013-A Supplement and the other Series 2013-A Related
Documents are, and shall remain, in full force and effect after giving effect to this Forbearance Agreement, and (iv) agrees
that the Group I Note Obligations, the Guaranteed Obligations (as defined in the Group I HVF Lease), the Series 2013-G1 Note
Obligations (as defined in the Group I HVF Lease) and Hertz’s obligations with respect to the Group I HVF Lease,
including, among other things and without limitation, the due and punctual performance and observation of all of the terms,
conditions, covenants, agreements and indemnities applicable to (A) Hertz in its roles as Group I Administrator, Group I
Lessee, Servicer (as defined in the Group I HVF Lease), Guarantor (as defined in the Group I HVF Lease), and Series 2013-G1
Administrator, (B) HVF in its roles as Lessor under (and as defined in) the Group I HVF Lease and Issuer of the HVF Series
2013-G1 Note under the HVF Series 2013-G1 Related Documents, (C) HVF II in its roles as Issuer and Series 2013-G1 Noteholder
and (D) DTG in its role as Group I Lessee, in each case, are, and shall remain, in full force and effect after giving effect
to this Forbearance Agreement.

 

    12

     

    

 

SECTION 10.             
Severability. If any term or provision of this Forbearance Agreement is invalid, illegal, or unenforceable in any
jurisdiction, such invalidity, illegality, or unenforceability shall not affect any other term or provision of this Forbearance
Agreement or invalidate or render unenforceable such term or provision in any other jurisdiction.

 

SECTION 11.             
Governing Law. THIS FORBEARANCE AGREEMENT, AND ALL MATTERS ARISING OUT OF OR RELATING TO THIS FORBEARANCE AGREEMENT,
SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE INTERNAL LAW OF THE STATE OF NEW YORK, AND THE OBLIGATIONS,
RIGHTS AND REMEDIES OF THE PARTIES HERETO SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAW.

 

SECTION 12.             
Entire Agreement. This Forbearance Agreement constitutes the entire agreement of the parties relating to the subject
matter hereof and supersedes any prior agreements, whether written or oral with respect to the subject matter hereof. This Forbearance
Agreement cannot be amended, supplemented or otherwise modified without the written agreement of each party hereto.

 

SECTION
13.              Counterparts;
Electronic Execution. This Forbearance Agreement may be executed in any number of counterparts and by different parties
hereto on separate counterparts, each of which counterparts, when so executed and delivered, shall be deemed to be an
original and all of which counterparts, taken together, shall constitute one and the same agreement. Delivery of an executed
counterpart of a signature page of this Waiver and Amendment by facsimile or any other electronic transmission (e.g.,
 “pdf” or “tif”) shall be effective as delivery of a manually executed counterpart hereof. The words
 “execution”, “execute”, “signed”, “signature”, and words of like import in or
related to any document to be signed in connection with this Forbearance Agreement shall be deemed to include electronic
signatures, the electronic matching of assignment terms and contract formations on electronic platforms approved by the
Administrative Agent, or the keeping of records in electronic form, each of which shall be of the same legal effect, validity
or enforceability as a manually executed signature or the use of a paper-based recordkeeping system, as the case may be, to
the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National
Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform
Electronic Transactions Act.

 

    13

     

    

 

SECTION 14.             
Costs and Expenses. Hertz hereby irrevocably consents to the retention of Ankura Consulting Group, LLC (the “Agent
Financial Advisor”) as the Administrative Agent’s financial advisor during the Forbearance Period, and, in addition
to, and not in lieu of, the terms of the Series 2013-A Related Documents relating to the reimbursement of Administrative Agent’s
fees and expenses, Hertz agrees to reimburse the Administrative Agent for the reasonable and documented fees and disbursements
of the Agent Financial Advisor incurred during the Forbearance Period, and Hertz agrees to pay a retainer of up to $200,000 within
two Business Days after the execution of a written engagement letter with the Agent Financial Advisor; provided that such fees
paid to the Agent Financial Advisor shall not exceed $200,000 in the aggregate.

 

SECTION 15.             
Headings. The headings of this Forbearance Agreement are for the purposes of reference only and shall not limit or
otherwise affect the meaning hereof.

 

SECTION 16.             
[Reserved].

 

SECTION 17.             
Successors. All agreements of each Forbearing Party hereunder shall bind the successors
and assigns of such Forbearing Party and each Forbearing Party agrees to inform each successor and assign of the agreements set
forth in this Forbearance Agreement. Each Forbearing Party agrees that it shall not offer, sell or otherwise transfer, pledge or
hypothecate any of its Series 2013-A Notes to any Person unless such Person agrees in writing to be bound by the terms of this
Forbearance Agreement. Each Forbearing Party agrees and acknowledges that the agreements set forth herein shall apply in respect
of all Series 2013-A Notes owned by such Forbearing Party from time to time prior to the Forbearance Termination Date. 

 

SECTION
18.              Release.
In consideration of the agreements of the Administrative Agent and the Forbearing Noteholders contained herein and for other
good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, each Hertz Party, on behalf of
itself and its successors and assigns (Hertz and the other Hertz Parties being hereinafter referred to collectively as the
 “Releasing Parties” and individually as a “Releasing Party”), hereby absolutely,
unconditionally and irrevocably releases, remises and forever discharges the Administrative Agent, each Forbearing
Noteholders and each of their respective successors and assigns, and their respective present and former shareholders,
affiliates, subsidiaries, divisions, predecessors, directors, officers, attorneys, employees, agents, legal representatives
and other representatives (the Administrative Agent, the Forbearing Noteholders and all such other Persons being hereinafter
referred to collectively as the “Releasees” and individually as a “Releasee”), of and
from all demands, actions, causes of action, suits, damages and any and all other claims, counterclaims, defenses, rights of
set off, demands and liabilities whatsoever (individually, a “Claim” and collectively,
 “Claims”) of every kind and nature, known or unknown, suspected or unsuspected, at law or in equity, which
any Releasing Party may now or hereafter own, hold, have or claim to have against the Releasees or any of them for, upon, or
by reason of any circumstance, action, cause or thing whatsoever which arose or occurred at any time on or prior to the
Forbearance Effective Date, including, without limitation, for or on account of, or in relation to, or in any way in
connection with this Forbearance Agreement, the Series 2013-A Supplement, any of the other Series 2013-A Related Documents or
any of the transactions hereunder or thereunder.

 

    14

     

    

 

Hertz and the each other Hertz Party understands,
acknowledges and agrees that the release set forth above may be pleaded as a full and complete defense to any Claim and may be
used as a basis for an injunction against any action, suit or other proceeding which may be instituted, prosecuted or attempted
in breach of the provisions of such release.

 

Hertz and each other Hertz Party agree
that no fact, event, circumstance, evidence or transaction which could now be asserted or which may hereafter be discovered shall
affect in any manner the final, absolute and unconditional nature of the release set forth above.

 

Each of the Releasing Parties hereby absolutely,
unconditionally and irrevocably, covenants and agrees with and in favor of each Releasee that it will not sue (at law, in equity,
in any regulatory proceeding or otherwise) any Releasee on the basis of any Claim released, remised and discharged by any Releasing
Party pursuant to this Section 18. If any Releasing Party violates the foregoing covenant, Hertz and the other Hertz Parties, for
themselves, and their respective successors and assigns, present and former members, shareholders, affiliates, subsidiaries, divisions,
predecessors, directors, officers, attorneys, employees, agents, legal representatives and other representatives, agree to pay,
in addition to such other damages as any Releasee may sustain as a result of such violation, all attorneys' fees and costs incurred
by any Releasee as a result of such violation.

 

SECTION 19.             
Course of Dealing. Each of Hertz and the other Hertz Parties acknowledge and agree that neither the execution nor
the delivery by the Administrative Agent and the Forbearing Noteholders party hereto of this Forbearance Agreement shall be deemed
to create a course of dealing or otherwise obligate the Administrative Agent, any Series 2013-A Noteholder or any other Person
to execute similar documents under the same or similar circumstances in the future.

 

SECTION 20.             
Confirmation of Holdings. Each of the undersigned Forbearing Parties represents that it holds Series 2013-A Notes in the
amount set forth on its respective signature page.

 

SECTION
21.               Action and
Declaration of Effectiveness by Administrative Agent. Each of the Forbearing Noteholders party hereto (constituting the Series
2013-A Required Noteholders and the Required Controlling Class Series 2013-A Noteholders) hereby direct the Administrative Agent
to enter into this Forbearance Agreement. The Administrative Agent is hereby authorized and directed to declare the Forbearance
to be effective (and the Forbearance Effective Date shall occur) when it has received documents confirming or evidencing, to the
satisfaction of the Administrative Agent, compliance with the conditions set forth in Section 5. Such declaration shall be final,
conclusive and binding upon all parties to this Forbearance Agreement for all purposes. Each Forbearing Noteholders that has signed
and released its signature page to this Forbearance Agreement shall be deemed to have consented to, approved or accepted or to
be satisfied with, each document or other matter required hereunder to be consented to or approved by or acceptable or satisfactory
to a Forbearing Noteholder.

 

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    15

     

    

  

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

	 	  
	 	HERTZ VEHICLE FINANCING LLC
	 	  
	 	By:	/s/ R. Scott Massengill
	 	Name: R. Scott Massengill
	 	Title: Treasurer
	 	 
	 	HERTZ VEHICLE FINANCING II LP
	 	 
	 	By: HVF II GP CORP., its General Partner
	 	  
	 	By:	/s/ R. Scott Massengill
	 	Name: R. Scott Massengill
	 	Title: Treasurer
	 	  
	 	DTG OPERATIONS, INC.
	 	  
	 	By:	/s/ R. Scott Massengill
	 	Name: R. Scott Massengill
	 	Title: Treasurer
	 	  
	 	THE HERTZ CORPORATION
	 	 
	 	By:	 /s/ R. Scott Massengill
	 	Name: R. Scott Massengill
	 	Title: Treasurer

 

 

 

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	 	DEUTSCHE BANK AG, NEW YORK BRANCH,
 as the Administrative Agent
	 	  
	 	By:	/s/ Katherine Bologna
	 	Name: Katherine Bologna
	 	Title: Managing Director
	 	  
	 	By:	/s/ Robert Sheldon
	 	Name: Robert Sheldon
	 	Title:

 

 

 

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	 	DEUTSCHE BANK AG, NEW YORK BRANCH,
	 	as a Class A Committed Note Purchaser, as a Class B Committed Note Purchaser, as a Class C Committed Note Purchaser and as a Class D Committed Note Purchaser
	 	 
	 	By:	/s/ Katherine Bologna
	 	Name: Katherine Bologna
	 	Title: Managing Director
	 	  
	 	By:	/s/ Robert Sheldon
	 	Name: Robert Sheldon
	 	Title:
	 	  
	 	DEUTSCHE BANK AG, NEW YORK BRANCH,
	 	as a Class A Funding Agent, as a Class B Funding Agent, as a Class C Funding Agent and as a Class D Funding Agent
	 	 
	 	By:	/s/ Katherine Bologna
	 	Name: Katherine Bologna
	 	Title: Managing Director
	 	 
	 	By:	/s/ Robert Sheldon
	 	Name: Robert Sheldon
	 	Title:
	 	  
	 	Series 2013-A Principal Amount with respect to such Investor Group:
	 	 
	 	Class A: $217,499,987.49
	 	 
	 	Class B: $13,750,000.00
	 	 
	 	Class C: $18,749,998.77
	 	 
	 	Class D: 130,000,000.00

 

 

 

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	 	BARCLAYS BANK PLC, as a Class A Funding Agent, as a Class B Funding Agent and as a Class C Funding Agent
	 	 
	 	By:	/s/ John McCarthy
	 	Name: John McCarthy
	 	Title: Director
	 	 
	 	SHEFFIELD RECEIVABLES COMPANY LLC,
	 	as a Class A Conduit Investor, as a Class B Conduit Investor and as a Class C Conduit Investor
	 	 
	 	By:	/s/ John McCarthy
	 	Name: John McCarthy
	 	Title: Director
	 	 
	 	BARCLAYS BANK PLC,
	 	as a Class A Committed Note Purchaser, as a Class B Committed Note Purchaser and as a Class C Committed Note Purchaser
	 	 
	 	By:	 /s/ John McCarthy
	 	Name: John McCarthy
	 	Title: Director
	 	 
	 	Series 2013-A Principal Amount with respect to such Investor Group:
	 	 
	 	Class A: $210,562,082.32
	 	 
	 	Class B: $13,311,395.97
	 	 
	 	Class C: $18,151,903.64

 

 

 

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	 	THE BANK OF NOVA SCOTIA, as a Class A Funding Agent, as a Class B Funding
    Agent and as a Class C Funding Agent
	 	 
	 	By:  	/s/ Douglas Noe
	 	Name: Douglas
Noe
	 	Title: Managing Director
	 	 
	 	LIBERTY STREET FUNDING LLC, as a Class
A Conduit Investor, as a Class B Conduit Investor and as a Class C Conduit Investor
	 	 
	 	By:	/s/ Jill A. Russo
	 	Name: Jill A.
Russo
	 	Title: Vice President
	 	 
	 	THE BANK OF NOVA SCOTIA, as a Class
A Committed Note Purchaser, as a Class B Committed Note Purchaser and as a Class C Committed Note Purchaser
	 	 
	 	By:	/s/ Douglas Noe
	 	Name: Douglas
Noe
	 	Title: Managing Director
	 	 
	 	Series 2013-A Principal Amount with
respect to such Investor Group:
	 	Class A: $217,500,000
	 	 
	 	Class B: $13,750,000
	 	 
	 	Class C: $18,750,000

 

 

 

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	 	CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK, as a Class A Committed Note
    Purchaser, as a Class B Committed Note Purchaser and as a Class C Committed Note Purchaser
	 	 
	 	By:  	/s/ Konstantina Kourmpetis
	 	Name: Konstantina
Kourmpetis
	 	Title: Managing Director
	 	 
	 	CREDIT AGRICOLE CORPORATE AND
INVESTMENT BANK, as a Class A Funding Agent, as a ClassB Funding Agent and as a Class C Funding Agent
	 	 
	 	By:	/s/ Konstantina Kourmpetis
	 	Name: Konstantina
Kourmpetis
	 	Title: Managing Director
	 	 
	 	ATLANTIC ASSET SECURITIZATION LLC, as a Class A Conduit
Investor, as a Class B Conduit Investor and as a Class C Conduit Investor
	 	 
	 	By:	Credit Agricole Corporate and
	 	 	Investment Bank, as Attorney-in-Fact
	 	 
	 	By:	/s/ Konstantina Kourmpetis
	 	Name: Konstantina
Kourmpetis
	 	Title: Managing Director
	 	 
	 	Series 2013-A Principal Amount with respect to such
Investor Group:
	 	 
	 	Class A: $217,499,987.08
	 	 
	 	Class B: $13,749,999.14
	 	 
	 	Class C: $18,749,999.88

 

 

 

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	 	ROYAL BANK OF CANADA, as a Class A Funding Agent, as a Class B Funding
    Agent and as a Class C Funding Agent
	 	 
	 	By: 	/s/ Kevin P Wilson
	 	Name: Kevin P
Wilson
	 	Title: Authorized Signatory
	 	 
	 	By:	/s/ Edward V. Westerman
	 	Name: Edward
V. Westerman
	 	Title: Authorized Signatory
	 	 
	 	OLD LINE FUNDING, LLC, as a Class
A Conduit Investor, as a Class B Conduit Investor and as a Class C Conduit Investor
	 	 
	 	By:	/s/ Kevin P Wilson
	 	Name: Kevin P
Wilson
	 	Title: Authorized Signatory
	 	 
	 	ROYAL BANK OF CANADA, as a Class A
Committed Note Purchaser, as a Class B Committed Note Purchaser and as a Class C Committed Note Purchaser
	 	 
	 	By:	/s/ Kevin P Wilson
	 	Name: Kevin P
Wilson
	 	Title: Authorized Signatory
	 	 
	 	By:	/s/ Edward V. Westerman
	 	Name: Edward
V. Westerman
	 	Title: Authorized Signatory
	 	 
	 	Series 2013-A Principal Amount with respect to such
Investor Group:
	 	 
	 	Class A: $217,500,000
	 	 
	 	Class B: $13,750,000
	 	 
	 	Class C: $18,750,000

 

 

 

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	 	MIZUHO BANK, LTD., as a Class A Funding Agent, as a Class B Funding Agent
    and as a Class C Funding Agent
	 	 
	 	By:  	/s/ Richard A. Burke
	 	Name: Richard
A. Burke
	 	 Title: Managing Director
	 	 
	 	MIZUHO BANK, LTD., as a Class A Committed
Note Purchaser, as a Class B Committed Note Purchaser and as a Class C Committed Note Purchaser
	 	 
	 	By:	/s/ Richard A. Burke
	 	Name: Richard
A. Burke
	 	Title: Managing Director
	 	 
	 	Series 2013-A Principal Amount with respect to such
Investor Group:
	 	 
	 	Class A: $217,500,000.00
	 	 
	 	Class B: $13,750,000.00
	 	 
	 	Class C: $18,750,000.00

 

 

 

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	 	BNP
    PARIBAS, as a Class A Funding Agent, as a Class B Funding Agent and as a Class C Funding Agent
	 	 	 
	 	By:	/s/
    Chris Fukuoka
	 	Name:	Chris
    Fukuoka
	 	Title:	Vice
    President
	 	 	 
	 	By:	/s/
    Steven Parsons
	 	Name:	Steven
    Parsons
	 	Title:	Managing
    Director
	 	 	 
	 	STARBIRD
    FUNDING CORPORATION, as a Class A Conduit Investor, as a Class B Conduit Investor and as a Class C Conduit Investor
	 	 	 
	 	By:	/s/
    David V. DeAngelis
	 	Name:	David
    V. DeAngelis
	 	Title:	Vice
    President
	 	 	 
	 	BNP
    PARIBAS, as a Class A Committed Note Purchaser, as a Class B Committed Note Purchaser and as a Class C Committed Note Purchaser
	 	 	 
	 	By:	/s/
    Chris Fukuoka
	 	Name:	Chris
    Fukuoka
	 	Title:	Vice
    President
	 	 	 
	 	By:	/s/
    Steven Parsons
	 	Name:	Steven
    Parsons
	 	Title:	Managing
    Director
	 	 	 
	 	Series
    2013-A Principal Amount with respect to such Investor Group:
	 	 	 
	 	Class
    A: $217,500,000
	 	 	 
	 	Class
    B: $13,750,000
	 	 	 
	 	Class
    C: $18,750,000

 

 

 

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	 	GOLDMAN
    SACHS BANK USA, as a Class A Funding Agent, as a Class B Funding Agent and as a Class C Funding Agent
	 	 
	 	By:	
	 	Name:	 
	 	Title:	 
	 	 
	 	GOLDMAN
    SACHS BANK USA, as a Class A Committed Note Purchaser, as a Class B Committed Note Purchaser and as a Class C Committed Note
    Purchaser
	 	 
	 	By:	
	 	Name:	 
	 	Title:	 
	 	 
	 	Series
    2013-A Principal Amount with respect to such Investor Group:
	 	 
	 	Class
    A: $217,499,987.07
	 	 
	 	Class
    B: $13,749,999.13
	 	 
	 	Class
    C: $18,749,998.87

 

 

 

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	 	LLOYDS BANK
    PLC, as a Class A Funding Agent, as a Class B Funding Agent and as a Class C Funding Agent
	 	 
	 	By:	/s/
    Matthew Cooke
	 	Name:	Matthew Cooke
	 	Title:	MD - SPG
	 	 
	 	GRESHAM RECEIVABLES
    (NO.29) LTD, as a Class A Committed Note Purchaser, as a Class B Committed Note Purchaser and as a Class C Committed Note
    Purchaser
	 	 
	 	By:	/s/
    Lisa Joseph Grant
	 	Name:	Lisa Joseph Grant
	 	Title:	Director
	 	 
	 	GRESHAM RECEIVABLES
    (NO.29) LTD, as a Class A Conduit Investor, as a Class B Conduit Investor and as a Class C Conduit Investor
	 	 
	 	By:	/s/
    Lisa Joseph Grant
	 	Name:	Lisa Joseph Grant
	 	Title:	Director
	 	 
	 	Series 2013-A
    Principal Amount with respect to such Investor Group:
	 	 
	 	Class A:
    $217,500,000.00
	 	 
	 	Class B:
    $13,750,000.00
	 	 
	 	Class C:
    $18,750,000.00

 

 

 

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	 	CITIBANK,
    N.A., as a Class A Funding Agent, as a Class B Funding Agent and as a Class C Funding Agent
	 	 
	 	By:	/s/
    Brett Bushinger
	 	Name:	Brett Bushinger
	 	Title: 	Vice President
	 	 
	 	 
	 	 
	 	CITIBANK,
    N.A., as a Class A Committed Note Purchaser, as a Class B Committed Note Purchaser and as a Class C Committed Note Purchaser
	 	 
	 	 
	 	 
	 	By:	/s/
    Linda Moses
	 	Name: 	Linda Moses
	 	Title: 	Vice President
	 	 
	 	 
	 	CAFCO, LLC,
    as a Class A Conduit Investor, as a Class B Conduit Investor and as a Class C Conduit Investor
	 	 
	 	By: Citibank
    N.A., as attorney-in-fact
	 	 
	 	 
	 	By: 	/s/
    Linda Moses
	 	Name: 	Linda Moses
	 	Title: 	Vice President
	 	 
	 	 
	 	 
	 	CHARTA, LLC,
    as a Class A Conduit Investor, as a Class B Conduit Investor and as a Class C Conduit Investor
	 	 
	 	 
	 	By: Citibank
    N.A., as attorney-in-fact
	 	 
	 	 
	 	By: 	/s/
    Linda Moses
	 	Name: 	Linda Moses
	 	Title: 	Vice President

 

 

 

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	 	CIESCO, LLC, as a Class A Conduit
    Investor, as a Class B Conduit Investor and as a Class C Conduit Investor
	 	 
	 	By: 	Citibank N.A., as attorney-in-fact
	 	 
	 	By:  	/s/ Linda Moses
	 	Name: Linda Moses
	 	Title: Vice President
	 	 
	 	CRC FUNDING, LLC, as a Class
    A Conduit Investor, as a Class B Conduit Investor and as a Class C Conduit Investor
	 	 
	 	By: 	Citibank N.A., as attorney-in-fact
	 	 
	 	 
	 	By: 	/s/ Linda Moses
	 	Name: Linda Moses
	 	Title: Vice President
	 	 
	 	Series 2013-A Principal Amount
    with respect to such Investor Group:
	 	 
	 	Class A: $130,500,000
	 	 
	 	Class B: $8,250,000
	 	 
	 	Class C: $11,250,000

 

 

 

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	 	CITIZENS BANK, N.A., as a Class
    A Committed Note Purchaser, as a Class B Committed Note Purchaser and as a Class C Committed Note Purchaser
	 	 
	 	By:	
	 	Name:
	 	Title:
	 	 
	 	CITIZENS BANK, N.A., as a Class
    A Funding Agent, as a Class B Funding Agent and as a Class C Funding Agent
	 	 
	 	By:	
	 	Name:
	 	Title:
	 	 
	 	Series 2013-A Principal Amount
    with respect to such Investor Group:
	 	 
	 	Class A: $217,499,987.05
	 	 
	 	Class B: $13,749,999.15
	 	 
	 	Class C: $18,749,998.89

 

 

 

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	 	CANADIAN IMPERIAL BANK OF COMMERCE,
    NEW YORK BRANCH, as a Class A Committed Note Purchaser, as a Class B Committed Note Purchaser and as a Class C Committed Note
    Purchaser
	 	 
	 	By:	/s/ Robert Castro
	 	Name: Robert Castro
	 	Title: Authorized Signatory
	 	 
	 	CANADIAN IMPERIAL BANK OF COMMERCE,
    NEW YORK BRANCH, as a Class A Funding Agent, as a Class B Funding Agent and as a Class C Funding Agent
	 	 
	 	By: 	/s/ Robert Castro
	 	Name: Robert Castro
	 	Title: Authorized Signatory
	 	 
	 	Series 2013-A Principal Amount
    with respect to such Investor Group:
	 	 
	 	Class A: $219,499,987.06
	 	 
	 	Class B: $13,749,999.17
	 	 
	 	Class C: $18,749,998.88

 

 

 

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	 	HSBC
    SECURITIES (USA) INC.,
	 	as a Class A Funding Agent,
    as a Class B Funding Agent and as a Class C Funding Agent
	 	 
	 	By:	/s/ Michael Banchik
	 	Name: Michael Banchik
	 	Title: Managing Director
	 	  ID Code #22396
	 	 
	 	HSBC
    BANK USA, NATIONAL ASSOCIATION,
	 	as a Class A Committed Note
    Purchaser, as
	 	a Class B Committed Note Purchaser
    and as a Class C Committed Note Purchaser
	 	 
	 	By:	/s/ Peter Hart
	 	Name: Peter Hart
	 	Title: Director
	 	 
	 	Series 2013-A Principal Amount
    with respect to such Investor Group:
	 	 
	 	Class A: $217,499,987.08
	 	 
	 	Class B: $13,749,999.14
	 	 
	 	Class C: $18,749,998.88

 

 

 

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	 	TRUIST BANK, as a Class A Funding Agent, a Class B Funding Agent and as a Class C Funding Agent
	 	 
	 	By:	/s/ John Malone
	 	Name: John Malone
	 	Title: Managing Director
	 	 
	 	TRUIST
    BANK, as a Class A Committed Note Purchaser, as a Class B Committed Note Purchaser and as a Class C Committed Note Purchaser
	 	 
	 	By: 	/s/ John Malone
	 	Name: John Malone
	 	Title: Managing Director
	 	 
	 	Series 2013-A Principal Amount
    with respect to such Investor Group:
	 	 
	 	Class A: $217,500,000
	 	 
	 	Class B: $13,750,000
	 	 
	 	Class C: $18,750,000

 

 

 

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	 	MUFG BANK, LTD., as a Class A Funding Agent, as a Class
    B Funding Agent and as a Class C Funding Agent
	 	 
	 	By:  	/s/ Christopher Pohl
	 	Name: Christopher Pohl
	 	Title: Managing Director
	 	 
	 	MUFG BANK, LTD., as a Class A Committed Note Purchaser,
    as a Class B Committed Note Purchaser and as a Class C Committed Note Purchaser
	 	 
	 	By: 	/s/ Christopher Pohl
	 	Name: Christopher Pohl
	 	Title: Managing Director
	 	 
	 	GOTHAM FUNDING CORPORATION, as a Class A Conduit Investor,
    as a Class B Conduit Investor and as a Class C Conduit Investor
	 	 
	 	By: 	/s/ Kevin J. Corrigan
	 	Name: Kevin J. Corrigan
	 	Title: Vice President
	 	 
	 	Series 2013-A Principal Amount with respect to such
    Investor Group:
	 	 
	 	Class A: $217,499,987.06
	 	 
	 	Class B: $13,749,999.18
	 	 
	 	Class C: $18,749,9998.91

 

 

 

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SCHEDULE I

 

Deutsche Bank AG, New York Branch

 

Citibank, N.A.

 

CHARTA, LLC

 

CAFCO, LLC

 

CRC FUNDING, LLC

 

CIESCO, LLC

 

The Bank of Nova Scotia

 

Liberty Street Funding LLC

 

Barclays Bank PLC

 

Sheffield Receivables Company LLC

 

Mizuho Bank, Ltd.

 

Goldman Sachs Bank USA

 

Credit Agricole Corporate and Investment Bank

 

Atlantic Asset Securitization LLC

 

Royal Bank of Canada

 

Old Line Funding, LLC

 

BNP Paribas

 

Starbird Funding Corporation

 

Lloyds Bank plc

 

Gresham Receivables (No. 29) Ltd

 

Citizens Bank, N.A.

 

Canadian Imperial Bank of Commerce, New York Branch

 

HSBC Securities (USA) Inc.

 

HSBC Bank USA, National Association

 

Truist Bank

 

    SCHEDULE 1 - 1

     

    

 

Exhibit A

 

[See attached.]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00308-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00308-of-00352.parquet"}]]