Document:

WELLS FARGO & COMPANY 8-K

 

Exhibit
4.1

 

[Face
of Note]

 

Unless
this certificate is presented by an authorized representative of The Depository Trust Company, a New York corporation (“DTC”),
to the Company or its agent for registration of transfer, exchange or payment, and any certificate issued is registered in the
name of Cede & Co. or in such other name as requested by an authorized representative of DTC (and any payment is made to Cede & Co. or such other entity as is requested by an authorized representative of DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF
FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered owner hereof, Cede & Co., has an interest
herein.

	CUSIP
NO. 95001D7G9	PRINCIPAL AMOUNT: $___________
	REGISTERED
NO. _	 

 

WELLS
FARGO & COMPANY

 

MEDIUM-TERM
NOTE, SERIES T

 

Due
Nine Months or More From Date of Issue

 

Notes
due May 18, 2032

 

WELLS
FARGO & COMPANY, a corporation duly organized and existing under the laws of the State of Delaware (hereinafter called the
“Company,” which term includes any successor corporation under the Indenture hereinafter referred to), for
value received, hereby promises to pay to CEDE & Co., or registered assigns, the principal sum of ______________________________________________________
DOLLARS ($___________) on May 18, 2032 (the “Stated Maturity Date”) and to pay interest thereon from May 18,
2020 or from the most recent Interest Payment Date to which interest has been paid or duly provided for semi-annually on each
May 18 and November 18, commencing November 18, 2020, and at Maturity (each, an “Interest Payment Date”), at
the rate of 2.75% per annum until the principal hereof is paid or made available for payment. The interest so payable, and punctually
paid or duly provided for, on any Interest Payment Date will, as provided in the Indenture, be paid to the Person in whose name
this Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such
interest next preceding such Interest Payment Date. The Regular Record Date for an Interest Payment Date shall be one Business
Day prior to such Interest Payment Date. If an Interest Payment Date is not a Business Day, interest on this Security shall be
payable on the next day that is a Business Day, with the same force and effect as if made on such Interest Payment Date, and without
any interest or other payment with respect to the delay. “Business Day” shall mean a day, other than a Saturday
or Sunday, that is neither a legal holiday nor a day on which banking institutions are authorized or required by law or regulation
to close in New York, New York.

 

Except
as described below for the first Interest Period, on each Interest Payment Date, interest will be paid for the period commencing
on and including the immediately preceding Interest Payment Date and ending on and including the day immediately preceding that
Interest Payment Date. This period is referred to as an “Interest Period.” The first Interest Period will

 

    	 	 	 

    	 

    

commence
on and include May 18, 2020 and end on and include November 17, 2020. Interest on this Security will be computed on the basis
of a 360-day year of twelve 30-day months.

 

Any
interest not punctually paid or duly provided for will forthwith cease to be payable to the Holder on such Regular Record Date
and may either be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the
close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof
shall be given to Holders of Securities of this series not less than 10 days prior to such Special Record Date, or be paid
at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities
of this series may be listed, and upon such notice as may be required by such exchange, all as more fully provided in the Indenture.

 

Payment
of interest on this Security will be made in immediately available funds at the office or agency of the Company maintained for
that purpose in the City of Minneapolis, Minnesota in such coin or currency of the United States of America as at the time of
payment is legal tender for payment of public and private debts; provided, however, that, at the option of the Company, payment
of interest may be paid by check mailed to the Person entitled thereto at such Person’s last address as it appears in the
Security Register or by wire transfer to such account as may have been designated by such Person. Payment of principal of and
interest on this Security at Maturity will be made against presentation of this Security at the office or agency of the Company
maintained for that purpose in the City of Minneapolis, Minnesota. Notwithstanding the foregoing, for so long as this Security
is a Global Security registered in the name of the Depositary, payments of principal and interest on this Security will be made
to the Depositary by wire transfer of immediately available funds.

This
Security is redeemable at the option of the Company, in whole but not in part, on any Optional Redemption Date at a Redemption
Price equal to 100% of the principal amount of this Security to be redeemed, plus any accrued but unpaid interest to, but excluding,
the Redemption Date. The “Optional Redemption Dates” are quarterly on the 18th day of each February, May, August
and November, commencing May 18, 2024 and ending February 18, 2032. Notice of any redemption will be mailed at least 5 but not
more than 30 days before the applicable Redemption Date to the Holder hereof. Unless the Company defaults in the payment of the
Redemption Price, on or after the Redemption Date, interest will cease to accrue on this Security or the portion hereof called
for redemption.

This
Security is not subject to repayment at the option of the Holder hereof prior to May 18, 2032. This Security is not entitled to
any sinking fund.

Reference
is hereby made to the further provisions of this Security set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.

Unless
the certificate of authentication hereon has been executed by the Trustee referred to on the reverse hereof by manual signature
or its duly authorized agent under the Indenture referred to on the reverse hereof by manual signature, this Security shall not
be entitled to any benefit under the Indenture or be valid or obligatory for any purpose.

 

[The
remainder of this page has been left intentionally blank]

 

    	 	2	 

    	 

    

IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed.

 

DATED: 

 

	
 

	
WELLS FARGO & COMPANY

	
 

	
 

	
 

	
 

	
 

	
By:

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
Its:

	
 

 

	
 

	
Attest:

	
 

	
 

	
 

	
 

	
 

	
 

	
Its:

 

TRUSTEE’S CERTIFICATE OF
AUTHENTICATION
This is one of the Securities of the 
series designated therein described
in the within-mentioned Indenture.

 

	
CITIBANK, N.A.,

	
 

	
 

	
as Trustee

	
 

	
 

	
 

	
 

	
By:

	
 

	
 

	
 

	
Authorized Signature

	
 

	
 

	
 

	
 

	
 

	
OR

	
 

	
 

	
 

	
 

	
 

	
WELLS FARGO BANK, N.A.,

	
 

	
 

	
as Authenticating Agent for the Trustee

	
 

	
 

	
 

	
 

	
By:

	
 

	
 

	
 

	
Authorized Signature

	
 

	
 

	
 

	
 

	
 

 

 

    	 	3	 

    	 

    

[Reverse
of Note]

 

 

WELLS
FARGO & COMPANY

 

MEDIUM-TERM
NOTE, SERIES T

 

Due
Nine Months or More From Date of Issue

 

Notes
due May 18, 2032

 

This
Security is one of a duly authorized issue of securities of the Company (herein called the “Securities”), issued
and to be issued in one or more series under an indenture dated as of February 21, 2017, as amended or supplemented from
time to time (herein called the “Indenture”), between the Company and Citibank, N.A., as Trustee (herein called
the “Trustee,” which term includes any successor trustee under the Indenture), to which Indenture and all indentures
supplemental thereto reference is hereby made for a statement of the respective rights, limitations of rights, duties and immunities
thereunder of the Company, the Trustee and the Holders of the Securities, and of the terms upon which the Securities are, and
are to be, authenticated and delivered. This Security is one of the series of the Securities designated as Medium-Term Notes,
Series T, of the Company. The Securities of this series will bear interest at a fixed rate or a floating rate. The Securities
of this series may mature at different times, be redeemable at different times or not at all, be repayable at the option of the
Holder at different times or not at all and be denominated in different currencies.

The
Securities are issuable only in registered form without coupons and will be either (a) book-entry securities represented
by one or more Global Securities recorded in the book-entry system maintained by the Depositary or (b) certificated securities
issued to and registered in the names of, the beneficial owners or their nominees.

The
Company agrees, to the extent permitted by law, not to voluntarily claim the benefits of any laws concerning usurious rates of
interest against a Holder of this Security.

Modification
and Waivers 

The
Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations
of the Company and the rights of the Holders of the Securities of each series to be affected under the Indenture at any time by
the Company and the Trustee with the consent of the Holders of a majority in principal amount of the Securities at the time Outstanding
of all series to be affected, acting together as a class. The Indenture also contains provisions permitting the Holders of a majority
in principal amount of the Securities of all series at the time Outstanding affected by certain provisions of the Indenture, acting
together as a class, on behalf of the Holders of all Securities of such series, to waive compliance by the Company with those
provisions of the Indenture. Certain past defaults under the Indenture and their consequences may be waived under the Indenture
by the Holders of a majority in principal amount of the Securities of each series at the time Outstanding, on behalf of the Holders
of all Securities of such series. Any such consent or waiver by the Holder of this Security shall be conclusive and binding upon
such Holder

    	 	4	 

    	 

    

and
upon all future Holders of this Security and of any Security issued upon the registration of transfer hereof or in exchange herefor
or in lieu hereof, whether or not notation of such consent or waiver is made upon this Security.

Defeasance

Section 403
and Article Fifteen of the Indenture and the provisions of clause (ii) of Section 401(1)(B) of the Indenture, relating
to defeasance at any time of (a) the entire indebtedness on this Security and (b) certain restrictive covenants, upon
compliance by the Company with certain conditions set forth therein, shall not apply to this Security. The remaining provisions
of Section 401 of the Indenture shall apply to this Security.

Authorized
Denominations

This
Security is issuable only in registered form without coupons in denominations of $1,000 or any amount in excess thereof which
is an integral multiple of $1,000.

Registration
of Transfer

Upon
due presentment for registration of transfer of this Security at the office or agency of the Company in the City of Minneapolis,
Minnesota, a new Security or Securities of this series, with the same terms as this Security, in authorized denominations for
an equal aggregate principal amount will be issued to the transferee in exchange herefor, as provided in the Indenture and subject
to the limitations provided therein and to the limitations described below, without charge except for any tax or other governmental
charge imposed in connection therewith.

This
Security is exchangeable for definitive Securities in registered form only if (x) the Depositary notifies the Company that
it is unwilling or unable to continue as Depositary for this Security or if at any time the Depositary ceases to be a clearing
agency registered under the Securities Exchange Act of 1934, as amended, and a successor depositary is not appointed within 90 days
after the Company receives such notice or becomes aware of such ineligibility, (y) the Company in its sole discretion determines
that this Security shall be exchangeable for definitive Securities in registered form and notifies the Trustee thereof or (z)
an Event of Default with respect to the Securities represented hereby has occurred and is continuing. If this Security is exchangeable
pursuant to the preceding sentence, it shall be exchangeable for definitive Securities in registered form, bearing interest at
the same rate, having the same date of issuance, Stated Maturity Date and other terms and of authorized denominations aggregating
a like amount. 

This
Security may not be transferred except as a whole by the Depositary to a nominee of the Depositary or by a nominee of the Depositary
to the Depositary or another nominee of the Depositary or by the Depositary or any such nominee to a successor of the Depositary
or a nominee of such successor. Except as provided above, owners of beneficial interests in this Global Security will not be entitled
to receive physical delivery of Securities in definitive form and will not be considered the Holders hereof for any purpose under
the Indenture.

Prior
to due presentment of this Security for registration of transfer, the Company, the Trustee and any agent of the Company or the
Trustee may treat the Person in whose name this Security is

    	 	5	 

    	 

    

registered
as the owner hereof for all purposes, whether or not this Security be overdue, and neither the Company, the Trustee nor any such
agent shall be affected by notice to the contrary.

Obligation
of the Company Absolute

No
reference herein to the Indenture and no provision of this Security or the Indenture shall alter or impair the obligation of the
Company, which is absolute and unconditional, to pay the principal of and interest on this Security at the times, place and rate,
and in the coin or currency, herein prescribed, except as otherwise provided in this Security.

No
Personal Recourse

No
recourse shall be had for the payment of the principal of or the interest on this Security, or for any claim based hereon, or
otherwise in respect hereof, or based on or in respect of the Indenture or any indenture supplemental thereto, against any incorporator,
stockholder, officer or director, as such, past, present or future, of the Company or any successor corporation, whether by virtue
of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise, all such liability
being, by the acceptance hereof and as part of the consideration for the issuance hereof, expressly waived and released.

Defined
Terms

All
terms used in this Security which are defined in the Indenture shall have the meanings assigned to them in the Indenture unless
otherwise defined in this Security.

Governing
Law

This
Security shall be governed by and construed in accordance with the law of the State of New York, without regard to principles
of conflicts of laws.

    	 	6	 

    	 

    

ABBREVIATIONS

 

The following abbreviations, when used in the inscription on the face of this instrument, shall be construed as though they were written out in full according to applicable laws or regulations:

 

	TEN COM	--	as tenants in common
	 	 	 
	TEN ENT	--	as tenants by the entireties
	 	 	 
	JT TEN	--	as joint tenants with right
	 	 	of survivorship and not
	 	 	as tenants in common

 

	
UNIF GIFT MIN ACT

	
--

	
 

	
Custodian

	
 

	
 

	
 

	
(Cust)

	
 

	
(Minor)

 

	
Under Uniform Gifts to Minors Act

	
 

	
 

	
 

	
 

	
 

	
(State)

	
 

 

Additional abbreviations may also be used though not in the above list.

 

FOR VALUE RECEIVED, the undersigned hereby sell(s) and transfer(s) unto

 

	
Please Insert Social Security or

	
 

	
Other Identifying Number of Assignee

	
 

	
 

	
 

	
 

	
 

 

	
 

	
 

	
 

	
(Please print or type name and address including postal zip code of Assignee)

  

    	 	7	 

    	 

    

the
within Security of WELLS FARGO & COMPANY and does hereby irrevocably constitute and appoint __________________ attorney to
transfer the said Security on the books of the Company, with full power of substitution in the premises.

 

 

	
Dated: _________________________

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

 

 

 

NOTICE:
The signature to this assignment must correspond with the name as written upon the face of the within instrument in every particular,
without alteration or enlargement or any change whatever.

 

 

    	 	8Exhibit 10.1

 

THIRD AMENDMENT TO

SEVENTH AMENDED AND RESTATED CREDIT
AGREEMENT

 

 

 

This
THIRD AMENDMENT TO SEVENTH AMENDED AND RESTATED CREDIT AGREEMENT (this “Agreement”)
dated as of May 12, 2020 is made by and among FREEDOMROADS, LLC, a Minnesota limited liability
company (the “Company”), each of the Subsidiaries of the Company party
hereto as borrowers (together with the Company, collectively, the “Borrowers”,
and each individually, a “Borrower”), FREEDOMROADS INTERMEDIATE
HOLDCO, LLC, a Minnesota limited liability company (“FRI”),
and each of the Subsidiaries of the Company party hereto as guarantors (collectively, the “Subsidiary Guarantors”,
and together with FRI, collectively, the “Guarantors”,
and each individually, a “Guarantor”), BANK OF AMERICA, N.A.,
a national banking association organized and existing under the laws of the United States (“Bank of America”),
in its capacity as administrative agent (in such capacity, the “Administrative Agent”),
and each of the Lenders signatory hereto.

 

W I T N E S S E T H:

 

WHEREAS, the
Borrowers, the Administrative Agent and the Lenders have entered into that certain Seventh Amended and Restated Credit Agreement
dated as of December 12, 2017 (as previously amended, as hereby amended and as from time to time hereafter further amended, modified,
supplemented, restated, or amended and restated, the “Credit Agreement”), pursuant to which the Lenders
have made available to the Borrowers various credit facilities (capitalized terms used in this Agreement and not otherwise defined
herein shall have the respective meanings given thereto in the Credit Agreement); and

 

WHEREAS, the
Borrowers anticipate that the global economy and their business will be affected by the COVID-19 virus epidemic and related governmental
orders;

 

WHEREAS, the
Borrowers have requested the Administrative Agent and the Lenders to amend the Credit Agreement, as set forth herein, in order
to provide some relief to Borrowers and their business; and

 

WHEREAS, the
Administrative Agent and the Lenders are willing to amend the Credit Agreement, on the terms and conditions set forth herein;

 

NOW, THEREFORE,
in consideration of the premises and further valuable consideration, the receipt and sufficiency of which is hereby acknowledged,
the parties hereto agree as follows:

 

     

     

    

 

1.             Amendments
to Credit Agreement. Subject to the terms and conditions set forth herein, the Credit Agreement is hereby amended as follows:

 

(a)              
The following definitions are added to Section 1.02 of the Credit Agreement, in the appropriate alphabetical order:

“Applicable
FLAIR Maximum Percentage” means: (a) at all times prior to the FLAIR Expansion Period, 20%, (b) during the FLAIR Expansion
Period, 30%, and (c) at all times after the FLAIR Expansion Period, 20%.

 

“Current
Ratio Relief Notice” has the meaning specified in Section 7.22.

 

“Current
Ratio Reduction Period” means the period from the first day after the Request Month through the last day of the fourth
month following the Request Month.

 

“FLAIR
Expansion Period” means the period from the Third Amendment Effective Date through August 31, 2020.

 

“Request
Month” has the meaning specified in Section 7.22.

 

“Revolving
Credit Restriction Period” means the period from the Third Amendment Effective Date through July 31, 2020.

 

“Third
Amendment” means that certain Third Amendment to Seventh Amended and Restated Credit Agreement dated as of May 12, 2020
among the Company, the other Borrowers parties thereto, FRI, the Subsidiary Guarantors parties thereto, the Administrative Agent
and the Lenders parties thereto.

 

“Third
Amendment Effective Date” has the meaning assigned thereto in the Third Amendment.

 

(b)               The
definition of “Floor Plan Applicable Rate”, in Section 1.02 of the Credit Agreement, is amended in its entirety
so that, as amended, it reads as follows:

 

“Floor
Plan Applicable Rate” means, from time to time, the following percentages per annum, based upon the Consolidated Current
Ratio as set forth below:

 

(a)       at
all times, except during the Current Ratio Reduction Period:

 

	Floor Plan Applicable Rate
	Pricing

 Level	 	Consolidated Current Ratio	 	Floating

 LIBOR 
Rate Loans	 	 	Base 
Rate

 Loans	 
	I	 	Greater than 1.250 to 1.000	 	 	2.05	%	 	 	0.55	%
	II	 	Greater than 1.220 to 1.000 but less than or equal to 1.250 to 1.000	 	 	2.15	%	 	 	0.65	%
	III	 	Greater than 1.200 to 1.000 but less than or equal to 1.220 to 1.000	 	 	2.35	%	 	 	0.85	%
	IV	 	Less than or equal to 1.200 to 1.000	 	 	2.50	%	 	 	1.00	%

 

    2

     

    

 

and

 

(b)       at
all times during the Current Ratio Reduction Period:

 

	Floor Plan Applicable Rate
	Pricing

 Level	 	Consolidated Current Ratio	 	Floating 

LIBOR 
Rate Loans	 	 	Base 
Rate 

Loans	 
	I	 	Greater than 1.250 to 1.000	 	 	2.05	%	 	 	0.55	%
	II	 	Greater than 1.220 to 1.000 but less than or equal to 1.250 to 1.000	 	 	2.15	%	 	 	0.65	%
	III	 	Greater than 1.200 to 1.000 but less than or equal to 1.220 to 1.000	 	 	2.35	%	 	 	0.85	%
	IV	 	Greater than or equal to 1.180 to 1.000 but less than or equal to 1.200 to 1.000	 	 	2.50	%	 	 	1.00	%
	V	 	Less than 1.180 to 1.000	 	 	3.00	%	 	 	1.50	%

 

provided, in each
case, that (i) commencing on the Effective Date, the Applicable Rate for Floor Plan Loans will be 2.15% in the case of Floor
Plan Loans that are Floating LIBOR Rate Loans, and 0.65% in the case of Floor Plan Loans that are Base Rate Loans and (ii)
commencing in January 2018, the Applicable Rate for any month shall be determined by reference to the applicable grid above
and the Consolidated Current Ratio as set forth in the most recent monthly Compliance Certificate (each, a “Monthly
Compliance Certificate”) received by the Administrative Agent pursuant to Section 6.02 delivered with the
financial statements delivered pursuant to Section 6.01(a) for the monthly period then ended. Any increase or decrease
in the Applicable Rate resulting from a change in the Consolidated Current Ratio shall become effective as of the first day
(the “Rate Change Effective Date”) of the calendar month immediately following the date a Monthly
Compliance Certificate is delivered pursuant to Section 6.02 (but, in each case, the resulting Applicable Rate on such
Rate Change Effective Date shall be based on the grid in effect on such Rate Change Effective Date, and the Applicable Rate
on any subsequent date shall be based on the grid in effect on such date); provided, however, that if a
Compliance Certificate is not delivered when due in accordance with such Section, then Pricing Level IV (or, during the
Current Ratio Relief Period, Pricing Level V) shall apply as of the first day of the calendar month after the date on which
such Compliance Certificate was required to have been delivered until the first day of the calendar month after the date a
Compliance Certificate is timely delivered (but nothing contained in this definition shall be deemed to waive any Default
arising from the failure to deliver any Compliance Certificate when due); provided further that (subject to the preceding
proviso) the Floor Plan Applicable Rate for the entire month of January of each calendar year will be determined based on the
Consolidated Current Ratio as set forth in the Compliance Certificate as of the last day of November in the previous calendar
year. Notwithstanding anything to the contrary contained in this definition, the determination of the Floor Plan Applicable
Rate for any period shall be subject to the provisions of Section 2.14(b).

 

    3

     

    

 

(c)              
Section 2.04(c) of the Credit Agreement is amended by deleting the phrase “20% of” and inserting in its
place the phrase “the Applicable FLAIR Maximum Percentage multiplied by”.

 

(d)              
The following sub-section (c) is added at the end of Section 2.05 of the Credit Agreement:

 

    (c)       Notwithstanding
anything to the contrary contained in this Agreement, the Lenders shall not make Revolving Credit Loans, and the Borrowers shall
not request any Revolving Credit Loans to be made, during the Revolving Credit Restriction Period.

 

(e)              
The following paragraph is added at the end of Section 7.22 of the Credit Agreement:

 

Notwithstanding
the foregoing, the Company shall have a one-time option to request a temporary four-month reduction of the minimum Consolidated
Current Ratio levels, as follows: At any time during 2020 or the first seven Business Days of 2021, the Company may deliver an
irrevocable written notice (the “Current Ratio Relief Notice”) to the Administrative Agent, requesting the changes
in the minimum Consolidated Current Ratio described in clauses (a) – (c), below. The Current Ratio Relief Notice shall also
specifically identify the month that will constitute the Request Month for the purposes of this Section (such month specified in
the Current Ratio Relief Notice being referred to herein as the “Request Month”); provided that (x) the
Request Month must be a month in 2020 and (y) the Request Month and the timing of delivery of the Current Ratio Relief Notice must
satisfy the requirements of clause (iii), below. Upon the Administrative Agent’s receipt of the Current Ratio Relief Notice,
the minimum Consolidated Current Ratio required pursuant to this Section 7.22, for each of the following dates, shall be:

 

    (a)       1.160
to 1.000 as of last day of the Request Month and the last day of each of the first two months following the Request Month,

 

    (b)       1.170
to 1.000 as of the last day of the third month following the Request Month, and

 

    (c)       1.180
to 1.000 as of the last day of the fourth month following the Request Month and at all times thereafter.

 

The Borrower
(i) may only deliver the Current Ratio Relief Notice in 2020 or during the first seven Business Days of 2021, (ii) may only deliver
the Current Ratio Relief Notice once, and (iii) must deliver such notice during, or within seven Business Days after the last day
of, the Request Month.

 

    4

     

    

 

2.             Effectiveness;
Conditions Precedent. This Agreement and the amendments to the Credit Agreement set forth herein shall become effective
at the time (the “Third Amendment Effective Date”) when each of the following conditions has been satisfied:

 

(a)               
The Administrative Agent shall have received original counterparts of this Agreement, duly executed by the Borrowers, the
Administrative Agent, each Guarantor and each Lender; and

 

(b)              
All fees and expenses payable to the Administrative Agent and the Lenders (including the fees and expenses of counsel to
the Administrative Agent) estimated to date shall have been paid in full (without prejudice to final settling of accounts for such
fees and expenses).

 

3.             Consent
of the Guarantors; Reaffirmation of Loan Documents. Each Guarantor hereby consents, acknowledges and agrees to the amendments
set forth herein and hereby confirms and ratifies in all respects the Guaranty to which such Guarantor is a party (including without
limitation the continuation of such Guarantor’s payment and performance obligations thereunder upon and after the effectiveness
of this Agreement and the amendments contemplated hereby) and the enforceability of such Guaranty against such Guarantor in accordance
with its terms. Each Borrower and each Guarantor further reaffirms, ratifies and confirms its respective obligations under each
Loan Document to which such Borrower or Guarantor is a party, and agrees that each Loan Document shall remain extant and in full
force and effect following the execution and delivery of this Agreement, provided that the Credit Agreement shall be amended as
set forth herein. Without limiting the generality of the foregoing, each Borrower and each Guarantor reaffirms:

 

(a)              
its obligations as a grantor under the Security Agreement, including without limitation the grant pursuant to Section
2 of the Security Agreement of a security interest to the Administrative Agent for the benefit of the Secured Parties in the
property and property rights constituting Collateral (as defined in Section 2 of the Security Agreement) of such Borrower
or Guarantor or in which such Borrower or Guarantor has or may have or acquire an interest or the power to transfer rights therein,
whether now owned or existing or hereafter created, acquired or arising and wheresoever located, as security for the payment and
performance of the Secured Obligations (as defined in the Security Agreement), and

 

(b)              
its obligations as a pledger under the Pledge Agreement, including without limitation the grant pursuant to Section 2
of the Pledge Agreement of a security interest to the Administrative Agent for the benefit of the Secured Parties in, and collateral
assignment and pledge to the Administrative Agent of, the Pledged Interests (as defined in the Pledge Agreement) and other property
constituting Collateral (as defined in the Pledge Agreement) of such Borrower or Guarantor or in which such Borrower or Guarantor
has or may have or acquire an interest or the power to transfer rights therein, whether now owned or existing or hereafter created,
acquired or arising and wheresoever located, as security for the payment and performance of the Secured Obligations (as defined
in the Pledge Agreement).

 

    5

     

    

4.             Representations
and Warranties. In order to induce the Administrative Agent and the Lenders to enter into this Agreement, the Borrowers
represent and warrant to the Administrative Agent and the Lenders as follows:

 

(a)              
The representations and warranties made by each Obligated Party in Article V of the Credit Agreement and in each
of the other Loan Documents to which such Obligated Party is a party are true and correct on and as of the date hereof, except
to the extent that such representations and warranties expressly relate to an earlier date;

 

(b)              
Since the date of the most recent financial reports of the Company and its Subsidiaries delivered pursuant to Section
6.01 of the Credit Agreement, no act, event, condition or circumstance has occurred or arisen which, singly or in the aggregate
with one or more other acts, events, occurrences or conditions (whenever occurring or arising), has had or could reasonably be
expected to have a Material Adverse Effect;

 

(c)               
The Persons appearing as Guarantors on the signature pages to this Agreement constitute all Persons who are required to
be Guarantors pursuant to the terms of the Credit Agreement and the other Loan Documents, including without limitation all Persons
who became Subsidiaries or were otherwise required to become Guarantors after the Effective Date of the Credit Agreement, and each
of such Persons has become and remains a party to a Guaranty as a Guarantor;

 

(d)              
This Agreement has been duly authorized, executed and delivered by the Borrowers and Guarantors party hereto and constitutes
a legal, valid and binding obligation of such parties, except as may be limited by general principles of equity or by the effect
of any applicable bankruptcy, insolvency, reorganization, moratorium or similar law affecting creditors’ rights generally;
and

 

(e)               
No Default or Event of Default has occurred and is continuing.

 

5.             Entire
Agreement. This Agreement, together with all the Loan Documents (collectively, the “Relevant Documents”),
sets forth the entire understanding and agreement of the parties hereto in relation to the subject matter hereof and supersedes
any prior negotiations and agreements among the parties relating to such subject matter. No promise, condition, representation
or warranty, express or implied, not set forth in the Relevant Documents shall bind any party hereto, and no such party has relied
on any such promise, condition, representation or warranty. Each of the parties hereto acknowledges that, except as otherwise
expressly stated in the Relevant Documents, no representations, warranties or commitments, express or implied, have been made
by any party to the other in relation to the subject matter hereof or thereof. None of the terms or conditions of this Agreement
may be changed, modified, waived or canceled orally or otherwise, except in writing and in accordance with Section 10.01
of the Credit Agreement.

 

6.             Full
Force and Effect of Agreement. Except as hereby specifically amended, modified or supplemented, the Credit Agreement is
hereby confirmed and ratified in all respects and shall be and remain in full force and effect according to its terms. All Loan
Documents (other than the Credit Agreement) are hereby confirmed and ratified in all respects and shall be and remain in full
force and effect according to their respective terms.

 

    6

     

    

 

7.             Counterparts.
This Agreement may be executed in any number of counterparts, each of which shall be deemed an original as against any party whose
signature appears thereon, and all of which shall together constitute one and the same instrument. Delivery of an executed counterpart
of a signature page of this Agreement by facsimile or other electronic imaging means (e.g. “pdf” or “tif”)
shall be effective as delivery of a manually executed counterpart of this Agreement.

 

8.             Governing
Law. This Agreement shall in all respects be governed by, and construed in accordance with, the laws of the State of Illinois
applicable to contracts executed and to be performed entirely within such State, and shall be further subject to the provisions
of Section 10.14 of the Credit Agreement.

 

9.             Enforceability.
Should any one or more of the provisions of this Agreement be determined to be illegal or unenforceable as to one or more of the
parties hereto, all other provisions nevertheless shall remain effective and binding on the parties hereto.

 

10.           References. All references in any of the Loan Documents to the “Credit Agreement” shall mean the
Credit Agreement, as previously amended, as amended hereby and as further amended, supplemented, restated or amended and restated
from time to time in accordance with the terms thereof.

 

11.           Successors
and Assigns. This Agreement shall be binding upon and inure to the benefit of the Borrowers, the Administrative Agent
and each of the Guarantors and Lenders, and their respective successors, legal representatives, and assignees to the extent such
assignees are permitted assignees as provided in Section 10.06 of the Credit Agreement.

 

[Signature pages follow.]

 

    7

     

    

 

 

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

 

	 	BORROWERS:
	 	 
	 	FREEDOMROADS,
    LLC
	 	 
	 	By:  	 /s/ Brent Moody
	 	Typed
    Name:   Brent Moody
	 	Typed
    Title:     President

 

	 	AMERICAN RV CENTERS, LLC
	 	ARIZONA RV CENTERS, LLC
	 	ATLANTIC RV CENTERS, LLC
	 	B & B RV, INC.
	 	BLAINE JENSEN RV CENTERS, LLC
	 	BODILY RV, INC.
	 	BURNSIDE BROKERS, LLC
	 	BURNSIDE FINANCE, LLC
	 	BURNSIDE RV CENTERS, LLC
	 	CAMPING TIME RV CENTERS, LLC
	 	CAMPING WORLD LEASING COMPANY, LLC
	 	CAMPING WORLD RV SALES, LLC
	 	CULLUM & MAXEY CAMPING CENTER, INC.
	 	DUSTY’S CAMPER WORLD, LLC
	 	EMERALD COAST RV CENTER, LLC
	 	FOLEY RV CENTER, LLC
	 	FREEDOMROADS OPERATIONS COMPANY, LLC
	 	FREEDOMROADS RV, INC.
	 	GARY’S RV CENTERS, LLC
	 	HOLIDAY KAMPER COMPANY OF COLUMBIA, LLC
	 	K&C RV CENTERS, LLC
	 	MEYER’S RV CENTERS, LLC
	 	NORTHWEST RV CENTERS, LLC
	 	OLINGER RV CENTERS, LLC
	 	RV WORLD, LLC (f/k/a Coachmen of Carolina, LLC)
	 	 
	 	By:  	/s/ Brent Moody
	 	Typed
    Name:    Brent Moody
	 	Typed
    Title:      President

 

THIRD AMENDMENT TO SEVENTH AMENDED AND
RESTATED CREDIT AGREEMENT 

Signature Page

 

     

     

    

 

	 	 
	 	BORROWERS, continued:
	 	 
	 	SHIPP’S RV CENTERS, LLC
	 	SIRPILLA RV CENTERS, LLC
	 	SOUTHWEST RV CENTERS, LLC
	 	STIER’S RV CENTERS, LLC
	 	STOUT’S RV CENTER, LLC
	 	TOM JOHNSON CAMPING CENTER, INC.
	 	TOM JOHNSON CAMPING CENTER
	 	CHARLOTTE, INC.
	 	WHEELER RV LAS VEGAS, LLC
	 	 
	 	By:	/s/ Brent Moody
	 	Typed Name:    Brent Moody
	 	Typed Title:      President

 

	 	GUARANTORS :
	 	 
	 	AMERICAN RV CENTERS, LLC
	 	ARIZONA RV CENTERS, LLC
	 	ATLANTIC RV CENTERS, LLC
	 	BLAINE JENSEN RV CENTERS, LLC
	 	B & B RV, INC.
	 	BODILY RV II, INC.
	 	BODILY RV, INC.
	 	BURNSIDE BROKERS, LLC
	 	BURNSIDE FINANCE, LLC
	 	BURNSIDE RV CENTERS, LLC
	 	CAMPING TIME RV CENTERS, LLC
	 	CAMPING WORLD LEASING COMPANY, LLC
	 	CAMPING WORLD RV SALES, LLC
	 	CULLUM & MAXEY CAMPING CENTER, INC.
	 	CWRV BROKERS, LLC
	 	CWRV FINANCE, LLC
	 	CWRV QUINCY BROKERS, LLC
	 	CWRV QUINCY FINANCE, LLC
	 	DUSTY’S CAMPER WORLD, LLC
	 	EMERALD COAST RV CENTER, LLC
	 	 
	 	By:  	/s/ Brent Moody
	 	Typed Name:    Brent Moody
	 	Typed Title:      President

 

THIRD AMENDMENT TO SEVENTH AMENDED AND
RESTATED CREDIT AGREEMENT 

Signature Page

 

     

     

    

 

	 	GUARANTORS, continued:
	 	 
	 	F2 CREATIVE, LLC
	 	FOLEY RV CENTER, LLC
	 	FREEDOMCARE INSURANCE SERVICES, LLC
	 	FREEDOMROADS FINANCE COMPANY, LLC
	 	FREEDOMROADS OPERATIONS COMPANY, LLC
	 	FREEDOMROADS PROPERTY COMPANY, LLC
	 	FREEDOMROADS RV, INC.
	 	FRI, LLC
	 	GARY’S RV CENTERS, LLC
	 	HART CITY RV CENTER, LLC
	 	HOLIDAY KAMPER COMPANY OF COLUMBIA, LLC
	 	K&C RV CENTERS, LLC
	 	MEYER’S RV CENTERS, LLC
	 	NORTHWEST RV CENTERS, LLC
	 	OLINGER RV CENTERS, LLC
	 	RV WORLD, LLC(f/k/a Coachmen of Carolina, LLC)
	 	SHIPP’S RV CENTERS, LLC
	 	SIRPILLA RV CENTERS, LLC
	 	SOUTHWEST RV CENTERS, LLC
	 	STIER’S RV CENTERS, LLC
	 	STOUT’S RV CENTER, LLC
	 	TOM JOHNSON CAMPING CENTER, INC.
	 	TOM JOHNSON CAMPING CENTER
	 	CHARLOTTE, INC.
	 	VENTURE OUT RV CENTERS, INC.
	 	WHEELER RV LAS VEGAS, LLC
	 	 
	 	By:	/s/ Brent Moody
	 	Typed Name:    Brent Moody
	 	Typed Title:      President
	 	 
	 	FREEDOMROADS INTERMEDIATE HOLDCO, LLC
	 	 
	 	By:	/s/ Brent Moody
	 	Typed Name:    Brent Moody
	 	Typed Title:      President

 

THIRD AMENDMENT TO SEVENTH AMENDED AND
RESTATED CREDIT AGREEMENT 

Signature Page

 

     

     

    

 

 

 

 

	 	ADMINISTRATIVE AGENT:
	 	 
	 	BANK OF AMERICA, N.A.,
	 	as Administrative Agent
	 	 
	 	By: 	/s/ Christine Trotter

	 	Typed Name:	Christine Trotter
	 	Typed Title:	Assistant Vice President

 

THIRD AMENDMENT TO SEVENTH AMENDED AND RESTATED CREDIT AGREEMENT

Signature Page

 

    

     

    

 

	 	LENDERS:
	 	 
	 	BANK OF AMERICA, N.A., as
	 	a Lender and L/C Issuer
	 	 	 
	 	By:	/s/ Curt McGowan

	 	Typed Name:	Curt McGowan
	 	Typed Title:	Sr. Vice President

		 	 

THIRD AMENDMENT TO SEVENTH AMENDED AND RESTATED CREDIT AGREEMENT

Signature Page

 

    

     

    

 

	 	JPMORGAN CHASE BANK, N.A.,
	 	as a Lender
	 	 	 
	 	By:	/s/ Adam Sigman

	 	Typed Name:	Adam Sigman
	 	Typed Title:	Executive Director

 

THIRD AMENDMENT TO SEVENTH AMENDED AND RESTATED CREDIT AGREEMENT

Signature Page

 

    

     

    

 

	 	U.S. BANK NATIONAL ASSOCIATION,
	 	as a Lender
	 	 	 
	 	By:	/s/ Shaun Ross

	 	Typed Name:	Shaun Ross
	 	Typed Title:	Asst. Vice President

 

THIRD AMENDMENT TO SEVENTH AMENDED AND RESTATED CREDIT AGREEMENT

Signature Page

 

    

     

    

 

	 	KEYBANK NATIONAL ASSOCIATION,
	 	as a Lender
	 	 	 
	 	By:	/s/ Andrew Scott

	 	Typed Name:	Andrew Scott
	 	Typed Title:	SVP

 

THIRD AMENDMENT TO SEVENTH AMENDED AND RESTATED CREDIT AGREEMENT

Signature Page

 

    

     

    

 

 

	 	BANK OF THE WEST, A CALIFORNIA BANKING CORPORATION,
	 	as a Lender
	 	 
	 	By:	/s/ Tim McKevitt
	 	Typed Name:  	Tim McKevitt
	 	Typed Title:	Vice President – Relationship Manager

 

THIRD AMENDMENT TO SEVENTH AMENDED AND
RESTATED CREDIT AGREEMENT

Signature Page

 

     

     

    

 

	 	MANUFACTURERS & TRADERS TRUST COMPANY,
	 	as a Lender
	 	 
	 	By:	/s/ Brendan Kelly
	 	Typed Name:  	Brendan Kelly
	 	Typed Title:	VP

 

THIRD AMENDMENT TO SEVENTH AMENDED AND RESTATED
CREDIT AGREEMENT

Signature Page

 

     

     

    

 

	 	CIT BANK, N.A.,
	 	as a Lender
	 	 
	 	By:	/s/ Bruce Fabian
	 	Typed Name:  	Bruce Fabian
	 	Typed Title:	Vice President

 

THIRD AMENDMENT TO SEVENTH AMENDED
AND RESTATED CREDIT AGREEMENT

Signature Page

 

     

     

    

 

	 	WELLS FARGO COMMERCIAL DISTRIBUTION
	 	FINANCE, LLC,
	 	as a Lender
	 	 
	 	By:	/s/ Thomas M. Adamski
	 	Typed Name:  	Thomas M. Adamski
	 	Typed Title:	VP Credit

 

THIRD AMENDMENT TO SEVENTH AMENDED
AND RESTATED CREDIT AGREEMENT

Signature Page

 

     

     

    

 

	 	NYCB SPECIALTY FINANCE COMPANY, LLC,
	 	as a Lender
	 	 
	 	By:	/s/ Mark C. Mazmanian
	 	Typed Name:  	Mark C. Mazmanian
	 	Typed Title:	First Senior Vice President

 

THIRD AMENDMENT TO SEVENTH AMENDED
AND RESTATED CREDIT AGREEMENT

Signature Page

 

     

    

 

 

	 	HUNTINGTON
    NATIONAL BANK,
	 	as a Lender
	 	 
	 	By:	/s/ Jerry R. Stockard

	 	Typed Name: 	Jerry R. Stockard
	 	Typed Title: 	Senior Vice President

 

THIRD AMENDMENT TO SEVENTH AMENDED AND RESTATED CREDIT AGREEMENT

Signature Page

 

     

     

    

 

	 	BMO HARRIS BANK N.A.,
	 	as a Lender
	 	 
	 	By:	/s/ Joel Dixon

	 	Typed Name: 	Joel Dixon
	 	Typed Title:	Director

 

THIRD
                                         AMENDMENT TO SEVENTH AMENDED AND RESTATED CREDIT AGREEMENT

Signature
Page

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