Document:

LOAN AND SECURITY AGREEMENT

 Exhibit 10.1 
  
  
 LOAN AND SECURITY AGREEMENT 

 
 DATED AS OF DECEMBER 26, 2003 
  
 AMONG 
  
 GENERAL ELECTRIC CAPITAL CORPORATION, 
 AS LENDER, 
  
 AND

  
 BRONCO DRILLING COMPANY, L.L.C., 
  
 AND 
  
 ELK HILL DRILLING, INC., 
  
 AND 
  
 WRANGLER EQUIPMENT LLC, 
 JOINTLY AND SEVERALLY, AS BORROWERS 

 

 INDEX OF EXHIBITS AND SCHEDULES 
  

					
	 Schedule A
	  	—	  	Definitions
	 Schedule B
	  	—	  	Lender’s and Borrowers’ Addresses for Notices
	 Schedule C
	  	—	  	Fees and Expenses
	 Schedule D
	  	—	  	Schedule of Documents
	 Schedule E
	  	—	  	Financial Covenants

  

					
	 Disclosure Schedule (1.3)
	  	—	  	Use of Proceeds
	 Disclosure Schedule (3.2)
	  	—	  	Places of Business; Corporate Names
	 Disclosure Schedule (3.6)
	  	—	  	Real Estate
	 Disclosure Schedule (3.7)
	  	—	  	Stock; Affiliates
	 Disclosure Schedule (3.9)
	  	—	  	Taxes
	 Disclosure Schedule (3.11)
	  	—	  	ERISA
	 Disclosure Schedule (3.12)
	  	—	  	Litigation
	 Disclosure Schedule (3.13)
	  	—	  	Intellectual Property
	 Disclosure Schedule (3.15)
	  	—	  	Environmental Matters
	 Disclosure Schedule (3.16)
	  	—	  	Insurance
	 Disclosure Schedule (3.18)
	  	—	  	Reserved
	 Disclosure Schedule (5(b))
	  	—	  	Indebtedness
	 Disclosure Schedule (5(e))
	  	—	  	Liens
	 Disclosure Schedule (6.1)
	  	—	  	Actions to Perfect Liens

  

					
	 Exhibit A
	  	-	  	Other Reports and Information
	 Exhibit B
	  	-	  	Reserved
	 Exhibit C
	  	-	  	Form of Term Note
	 Exhibit D
	  	-	  	Form of Secretarial Certificate
	 Exhibit E
	  	-	  	Form of Power of Attorney
	 Exhibit F
	  	-	  	Form of Certificate of Compliance
	 Exhibit G
	  	-	  	Form of Notice of Term Loan Advance

  

 GE Capital 
  
 TRANSACTION SUMMARY AS OF THE DATE OF THIS AGREEMENT 
  

			
	TERM LOAN	  	 
		
	 Maximum Amount:
	  	$12,000,000.
		
	 Closing Date:
	  	December 26, 2003.
		
	 Funding Period:
	  	From the Closing Date to and including the Commitment Termination Date.
		
	 Term:
	  	For the initial Term Loan Advance: from the Closing Date to the related Stated Maturity Date.
		
	 	  	For each additional Term Loan Advance, from the Funding Date to the related Stated Maturity Date.
		
	 Amortization:
	  	For each Term Loan Advance, 1.6667% of the original principal amount of such Term Loan Advance payable on each Principal Payment Date.
		
	 Stated Maturity Date:
	  	For each Term Loan Advance, 59 months after the first Principal Payment Date of such Term Loan Advance, but in no event later than July 1, 2009.
		
	 Loan Rate:
	  	LIBOR plus 5.00%, as determined in accordance with Section 1.5

  

			
	 FEES
	  	 
		
	 Closing Fee:
	  	1.50% of the Maximum Amount payable on the Closing Date less any good faith deposit of Borrowers on deposit with Lender remaining after payment of the Fees paid by Lender, including those
paid on behalf of Borrowers, in connection with this transaction.
		
	 Unused Fee:
	  	For each day during the Funding Period, an amount equal to the Maximum Amount less the aggregate original principal amount of the Term Loan Advances as of such day multiplied by 0.50%, the
product of which is then divided by 360, which shall be payable monthly, in arrears, and based upon the actual number of days in such month.
		
	 Prepayment Fee:
	  	Except as otherwise provided in this Agreement, if prepayment occurs during Loan Year One, 5% of the amount prepaid, if prepayment occurs during Loan Year Two, 4% of the amount prepaid, if
prepayment occurs during Loan Year Three, 3% of the amount prepaid, if prepayment occurs during Loan Year Four, 2% of the amount prepaid and if prepayment occurs during Loan Year Five, 1% of the amount prepaid.

  
 The Loan described generally here
is established and governed by the terms and conditions set forth below in this Agreement and the other Loan Documents, and if there is any conflict between this general description and the express terms and conditions below or elsewhere in the Loan
Documents, such other express terms and conditions shall control. 
  

 This LOAN AND SECURITY AGREEMENT is dated as of December 26, 2003, and agreed to by and among BRONCO DRILLING COMPANY,
L.L.C., an Oklahoma limited liability company (together with its successors and assigns, “Bronco”), ELK HILL DRILLING, INC., a Texas corporation (together with its successors and assigns, “Elk Hill”), WRANGLER EQUIPMENT LLC, an
Oklahoma limited liability company (together with its successors and assigns, “Wrangler”; Bronco, Elk Hill and Wrangler, each a “Borrower” and, together, “Borrowers”), jointly and severally as borrowers, and GENERAL
ELECTRIC CAPITAL CORPORATION, a Delaware corporation (together with its successors and assigns, “Lender”). 
  
 RECITALS 
  
 A. Borrowers desire to obtain the Loan and other financial accommodations from Lender and Lender is willing to provide the Loan and accommodations all in accordance with
the terms of this Agreement. 
  
 B. Capitalized terms used herein shall have the
meanings assigned to them in Schedule A and, for purposes of this Agreement and the other Loan Documents, the rules of construction set forth in Schedule A shall govern. All schedules, attachments, addenda and exhibits hereto, or
expressly identified to this Agreement, are incorporated herein by reference, and taken together with this Agreement, constitute but a single agreement. 
  
 AGREEMENT 
  
 NOW, THEREFORE, in consideration of the premises and the mutual covenants hereinafter contained, the parties hereto agree as follows: 
  

	1.	AMOUNT AND TERMS OF CREDIT 

  
 1.1 Loan. (a) Term Loan Advances. Subject to the terms and conditions of this Agreement, during the Funding Period, Lender agrees to make an advance (each, a “Term Loan Advance”) under the Term Loan
to Borrowers on the Closing Date and each Funding Date in the original principal amount specified in the related Notice of Term Loan Advance; provided, however, the aggregate original principal amount of all Term Loan Advances shall not
exceed the Maximum Amount. Unless otherwise consented to by Lender, not more than one Term Loan Advance shall be funded in any calendar month, and each Term Loan Advance shall be in an original principal amount of at least $3,000,000. Upon the
Commitment Termination Date, the obligation of Lender to make Term Loan Advances shall immediately terminate. On or prior to the Closing Date, Borrowers shall execute and deliver to Lender the Term Note, which shall evidence the Loan. The Loan shall
be repayable in accordance with the terms of the Term Note and this Agreement. Borrowers’ obligation to repay the Loan shall commence on the Closing Date. 
  

(b) Borrowers shall request each Term Loan Advance by written notice to Lender substantially in the form of Exhibit G (each a “Notice of
Term Loan Advance”) given no later than 10:00 a.m., Eastern Time, on the fifth Business Day prior to the proposed date of advance. Elk Hill and Wrangler hereby appoint Bronco to act for and on behalf of Elk Hill and Wrangler as their agent to
execute and submit each Notice of Term Loan Advance and to take all other action hereunder on behalf of Borrowers. Lender shall be fully protected under this Agreement in relying upon, and shall be entitled to rely upon, (i) any Notice of Term Loan
Advance believed by Lender to be genuine, and (ii) the assumption that the Persons making electronic requests or executing and delivering a Notice of Term Loan Advance were duly authorized, unless the responsible individual acting thereon for Lender
shall have actual knowledge to the contrary. As an accommodation to Borrowers, Lender may (but shall not be required to) permit telephonic, electronic, or facsimile requests for a Term Loan Advance and electronic or facsimile transmittal of
instructions, authorizations, agreements or reports to Lender by Bronco. Unless Bronco specifically directs Lender in writing not to accept or act upon telephonic, facsimile or electronic communications from Bronco, Lender shall have no liability to
Borrowers for any loss or damage suffered by any Borrower as a result of Lender’s honoring of any requests, execution of any instructions, authorizations or agreements or reliance on any reports communicated to it telephonically, by facsimile
or electronically and purporting to have been sent to Lender by Bronco, and Lender shall have no duty to verify the origin of any such communication or the identity or authority of the Person sending it. 
  
 (c) In connection with each Term Loan Advance, Borrowers authorize Lender to
amend or supplement Schedule 2 to the Term Note (which shall be effective without the consent of any Borrower) to reflect the original principal amount of such Term Loan Advance. 
  
 1.2 Payments and Prepayment. (a) On each Principal Payment Date, Borrowers shall pay the aggregate principal payments (if any) owed
with respect to the Loan as set forth in the Term Note, and on each Payment Date, Borrowers shall pay accrued and unpaid interest on the Loan as provided in Section 1.5; provided, however, on the Stated Maturity Date of the final Term Loan
Advance or date of acceleration of the Loan, Borrowers shall repay in full the aggregate then outstanding principal amount of the Loan plus all accrued and unpaid interest thereon, any Prepayment Fee and all other amounts owed hereunder related to
such Loan. 
  

 (b) Borrowers shall have the right, on a Payment Date and upon 60 days’ prior written notice to
Lender, to (i) terminate voluntarily Borrowers’ right to receive or benefit from, and Lender’s obligation to make and to incur, Term Loan Advances, (ii) prepay the entire Loan in whole or such portion thereof in increments of $100,000 and
(iii) prepay all of the Obligations or such portion thereof in increments of $100,000. If Borrowers exercise their right of termination and prepayment, or if Lender’s obligation to make Term Loan Advances is terminated for any reason prior to
the Stated Expiry Date (including (without limitation) as a result of the occurrence of a Default or as a result of the refinancing of the Loan by a party other than Lender and regardless of whether Borrowers presented Lender with the opportunity to
participate in any such refinancing), Borrowers shall pay to Lender the outstanding principal amount of the Loan, all accrued and unpaid interest thereon, all other amounts owed under any Loan Document and the aggregate Prepayment Fee for the Loan,
which shall not be refundable; provided, that Borrowers shall not have an obligation to pay to Lender any Prepayment Fee if Lender elects to refinance all of the Loan; provided, further, that if any portion of the Loan is refinanced by
a Person other than Lender, Borrowers shall pay to Lender the Prepayment Fee applicable to such portion of the Loan refinanced by a Person other than Lender. 
  
 (c) Upon any acceleration of the Loan pursuant to this Agreement or any Loan Document, Borrowers shall immediately repay all (or if only a portion is
accelerated thereunder, such portion of) the Loan then outstanding, including accrued and unpaid interest thereon, plus the aggregate Prepayment Fee for such Loan and all other Obligations. 
  
 (d)(i) Upon any sale or other disposition of any of the Collateral, Borrowers
shall immediately repay with the proceeds of such sale or other disposition all or a portion, as applicable, of the Loan, including accrued and unpaid interest on the amount prepaid, plus the aggregate Prepayment Fee for the portion of the principal
prepaid and all other amounts owed under the Loan Documents. 
  
 (ii) Notwithstanding the foregoing subsection (i), Borrowers shall not be required to repay the Loan with the proceeds of the sale or sales of Inventory of Wrangler, but only if (A) such sale or sales of such
Inventory of Wrangler, in aggregate from the Closing Date to and including the Termination Date, does not exceed 25% of the aggregate appraised value of all Inventory of Wrangler as determined by the Wrangler Appraisal and (B) the proceeds of such
sale are retained by Borrowers for working capital purposes. 
  
 (iii) Notwithstanding the foregoing subsection (i), but in all cases subject to the limitations of the foregoing subsection (ii), for each Loan Year, Borrowers shall not be required to repay the Loan with the proceeds
of the sale of Collateral with an aggregate original cost not exceeding the Minimum Actionable Amount; provided, further, that, for each Loan Year, upon the prior written consent of Lender, which consent shall be in Lender’s sole and
absolute discretion, Borrowers shall not be required to repay the Loan with the proceeds of the sale of Collateral with an aggregate original cost exceeding the Minimum Actionable Amount. 
  
 (e) If all or any part of the Collateral is lost, stolen, destroyed or damaged beyond repair or if the Collateral, or any
part thereof, shall be condemned for any reason, including without limitation fire or earthquake damage, or otherwise taken for public or quasi-public use under the power of eminent domain, or be transferred in lieu thereof (each such event, a
“Loss Event,” and the Collateral, or any part thereof, subject to any such Loss Event, the “Affected Property”), Borrowers shall promptly notify Lender of such Loss Event, and, unless Borrowers repair or replace the Affected
Property in accordance with this Agreement and any other Loan Document, Borrowers shall use the Net Proceeds to prepay the Loan by paying the Affected Property Amount. If, within 45 calendar days of any Loss Event, (i) Borrowers fail to notify
Lender of such Loss Event, (ii) Borrowers and Lender fail to execute an amendment to this Agreement to delete the Affected Property and add the replacement property or (iii) Borrowers fail to pay the Affected Property Amount, then Lender may, at its
sole discretion, use the Net Proceeds to prepay the Loan and all other Obligations owed to Lender. The Net Proceeds with respect to the Affected Property shall be made available by Lender to be applied to discharge Borrowers’ obligation under
this Section. 
  
 1.3 Use of Proceeds. Borrowers shall use the proceeds of
the Loan to refinance on the Closing Date certain outstanding Indebtedness and for working capital and other general corporate purposes. 
  
 1.4 Single Loan. The Loan and all of the other Obligations of Borrowers to Lender shall constitute one general obligation of Borrowers secured by all of the
Collateral. 
  
 1.5 Interest. (a) Borrowers shall pay interest to Lender on
the aggregate outstanding principal balance of the Loan at a floating rate equal to the LIBOR plus 5.00% per annum (the “Loan Rate”). 
  
 All computations of interest shall be made by Lender on the basis of a 360 day year, in each case for the actual number of days occurring in the period
for which such interest or fee is payable. Each determination by Lender of an interest rate hereunder shall be conclusive and binding for all purposes, absent manifest error. In no event will Lender charge interest at a rate that exceeds the highest
rate of interest permissible under any law that a court of competent jurisdiction shall, in a final determination, deem applicable. 
  

 2 

 (b) Interest shall be payable on the aggregate outstanding principal amount of the Loan, in arrears, on
each Payment Date. 
  
 (c) Effective upon the occurrence of any
Event of Default and for so long as any Event of Default shall be continuing, the Loan Rate shall automatically be increased by two percent per annum (such increased rate, the “Default Rate”), and all outstanding Obligations, including
unpaid interest, shall continue to accrue interest from the date of such Event of Default at the Default Rate applicable to such Obligations. 
  
 (d) If any interest or any other payment (including, without limitation, Unused Fees) to Lender under this Agreement becomes due and payable on a day
other than a Business Day, such payment date shall be extended to the next succeeding Business Day and interest thereon shall be payable at the then applicable rate during such extension. 
  
 1.6 Late Charge. In the event Borrowers fail to pay any amounts due and payable hereunder or under any other Loan Document within
five days of when due, whether by acceleration or otherwise, Lender may, at its option, whether immediately or at the time of final payment of such amounts, impose a late charge on Borrowers equal to five percent of the amount of each and every such
past due payment notwithstanding the date on which such payment is actually paid to Lender. Any late charge imposed by Lender in accordance with this Section shall be due and payable on demand and shall be in addition to any interest due hereunder
at the Default Rate and to the exercise by Lender of its rights and remedies hereunder following an Event of Default. 
  
 1.7 Fees. Borrowers agree to pay to Lender the Fees in the amounts and at the times set forth in Schedule C. 
  
 1.8 Receipt of Payments. Borrowers shall make each payment under this Agreement (not
otherwise made pursuant to Section 1.9) without set-off, counterclaim or deduction and free and clear of all Taxes not later than 12:00 noon, Eastern Time, on the day when due in lawful money of the United States of America in immediately available
funds to the Collection Account. If any Borrower shall be required by law to deduct any Taxes from any payment to Lender under any Loan Document, then the amount payable to Lender shall be increased so that, after making all required deductions,
Lender receives an amount equal to that which it would have received had no such deductions been made. For purposes of computing interest and Fees, any payments received after 12:00 noon, Eastern Time, shall be deemed received by Lender on the
Business Day following receipt of immediately available funds in the Collection Account. 
  
 1.9 Application and Allocation of Payments. Payments shall be applied to amounts then due and payable in the following order: (a) to Fees and expenses payable or reimbursable pursuant to Section 9.2, (b) to
accrued and unpaid interest on the Loan, (c) to principal due on the Loan and (d) to all other Obligations. 
  
 1.10 Accounting. Lender is authorized to record on its books and records the date and amount of the Loan and each payment of principal thereof and such recordation shall constitute prima facie evidence of the
accuracy of the information so recorded. Lender shall provide Borrowers on a monthly basis a statement and accounting of such recordations but any failure on the part of the Lender to keep any such recordation (or any errors therein) or to send a
statement thereof to Borrowers shall not in any manner affect the obligation of Borrowers to repay any of the Obligations. Except to the extent that Borrowers shall, within 30 days after such statement and accounting is sent, notify Lender in
writing of any objection Borrowers may have thereto (stating with particularity the basis for such objection), such statement and accounting shall be deemed final, binding and conclusive upon Borrowers, absent manifest error. 
  
 1.11 Indemnity. Borrowers and each other Credit Party executing any Loan Document
jointly and severally agree to indemnify and hold Lender and its Affiliates, and their respective employees, attorneys and agents (each, an “Indemnified Person”), harmless from and against any and all suits, actions, proceedings, claims,
damages, losses, liabilities and expenses of any kind or nature whatsoever (including attorneys’ fees and disbursements and other costs of investigation or defense, including those incurred upon any appeal) that may be instituted or asserted
against or incurred by any such Indemnified Person as the result of credit having been extended, suspended or terminated under this Agreement and the other Loan Documents or with respect to the execution, delivery, enforcement, performance and
administration of, or in any other way arising out of or relating to, this Agreement, the other Loan Documents, any other documents or transactions contemplated by or referred to herein or therein or any of the Collateral and any actions or failures
to act with respect to any of the foregoing, including any and all product liabilities, Environmental Liabilities, Taxes and legal costs and expenses arising out of or incurred in connection with disputes between or among any parties to any of the
Loan Documents (collectively, “Indemnified Liabilities”), except to the extent that any such Indemnified Liability is finally determined by a court of competent jurisdiction to have resulted solely and directly from such Indemnified
Person’s gross negligence or willful misconduct. NO INDEMNIFIED PERSON SHALL BE RESPONSIBLE OR LIABLE TO ANY CREDIT PARTY, ANY SUCCESSOR, ASSIGNEE OR THIRD PARTY BENEFICIARY OR ANY OTHER PERSON ASSERTING CLAIMS DERIVATIVELY THROUGH SUCH PARTY,
FOR ANY ACT OR FAILURE TO ACT UNDER ANY POWER OF ATTORNEY OR FOR INDIRECT, PUNITIVE, EXEMPLARY OR CONSEQUENTIAL DAMAGES THAT MAY BE ALLEGED AS A RESULT OF CREDIT HAVING BEEN 

  

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EXTENDED, SUSPENDED OR TERMINATED UNDER THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT OR AS A RESULT OF ANY OTHER TRANSACTION CONTEMPLATED HEREUNDER OR
THEREUNDER. 
  
 1.12 Illegality or Inability to Determine LIBOR. (a) If
Lender shall determine (which determination shall, upon notice thereof to Borrowers, be conclusive and binding on Borrowers) that the introduction of or any change in or in the interpretation of any law or regulation makes it unlawful, or any
central bank or other governmental authority asserts that it is unlawful, for Lender to perform its obligations hereunder to make, fund or maintain the Loan as a LIBOR based obligation, then, on notice thereof and demand therefor by Lender to
Borrowers, the interest rate applicable to the Loan shall automatically convert into an amount per annum equal to Prime plus 3.00% (the “Adjusted Rate”) until such time as Lender shall notify Borrowers that Lender has determined that the
circumstances causing such suspension no longer exist. 
  
 (b) If
Lender shall determine (which determination shall, upon notice thereof to Borrowers, be conclusive and binding on Borrowers) that LIBOR cannot be determined in accordance with the definition thereof, Lender shall notify Borrowers, whereupon the
interest rate applicable to the Loan shall thereafter be the Adjusted Rate. 
  
 1.13 Increased Costs. Borrowers agree to reimburse Lender for any increase in the cost to Lender of, or any reduction in the amount of any sum receivable by Lender in respect of, making, continuing or maintaining (or of its
obligation to make, continue or maintain) the Loan based upon LIBOR (including, without limitation, any imposition or effectiveness of reserve requirements but excluding any costs resulting from reserve requirements taken into account in the
definition of LIBOR) that arise in connection with any change in, or the introduction, adoption, effectiveness, interpretation, reinterpretation or phase-in of, any law or regulation, directive, guideline, decision or request (whether or not having
the force of law) of any court, central bank, regulator or other governmental authority. Lender shall promptly notify Borrowers in writing of the occurrence of any such event, such notice to state, in reasonable detail, the reasons therefor and the
additional amount required fully to compensate Lender for such increased cost or reduced amount. Borrowers shall pay such additional amounts directly to Lender promptly (and, in any event, within ten Business Days of receipt of such notice), and
such notice shall, in the absence of manifest error, be conclusive and binding on Borrowers. 
  
 1.14 Funding Losses. In the event of (a) the payment or prepayment of any principal of the Loan other than on the last day of the Interest Period applicable thereto (including as a result of an Event of
Default), or (b) the failure by Borrowers to borrow or prepay the Loan on the date specified in any applicable notice (regardless of whether such notice is withdrawn or revoked), then, in any such event, Borrowers shall compensate Lender within ten
Business Days after written demand from Lender for any loss, cost or expense attributable to such event. Such demand notice shall, in absence of manifest error, be conclusive and binding on Borrowers. 
  
 1.15 Increased Capital Costs. If any change in, or the introduction, adoption,
effectiveness, interpretation, reinterpretation or phase-in of, any law or regulation, directive, guideline, decision or request (whether or not having the force of law) of any court, central bank, regulator or other governmental authority affects
or would affect the amount of capital required or expected to be maintained by Lender or any Person controlling Lender, and Lender determines that the rate of return on its or such controlling Person’s capital as a consequence of its Commitment
or the Loan made by Lender is reduced to a level below that which Lender or such controlling Person could have achieved but for the occurrence of any such circumstance, then, in any such case upon notice from time to time by Lender to Borrowers,
Borrowers shall immediately pay directly to Lender additional amounts sufficient to compensate Lender or such controlling Person for such reduction in rate of return. A statement of Lender as to any such additional amount or amounts (including
calculations thereof in reasonable detail) shall, in the absence of manifest error, be conclusive and binding on Borrowers. 
  
 1.16 Joint and Several Obligations. (a) The Obligations of Bronco, Elk Hill and Wrangler (each, a “Co-Borrower”) under each Loan Document are joint and
several. Each reference to the term “Borrowers” in each Loan Document shall be deemed to refer to each Co-Borrower; each representation and warranty made by Borrowers in any Loan Document shall be deemed to have been made by each
Co-Borrower; each covenant and undertaking on the part of Borrowers under each Loan Document shall be deemed individually applicable with respect to each Co-Borrower; and each event constituting an Event of Default under this Agreement shall be
determined with respect to each Co-Borrower. A separate action or actions may be brought and prosecuted against any Co-Borrower whether an action is brought against any other Co-Borrower or whether any other Co-Borrower is joined in any such action
or actions. Each Co-Borrower waives any right to require Lender to: (i) proceed against any other Co-Borrower; (ii) proceed against or exhaust any security held from any other Co-Borrower; or (iii) pursue any other remedy in Lender’s power
whatsoever. Notices under any Loan Document required to be provided to Borrowers shall be effective if provided to any Co-Borrower. Any consent on the part of Borrowers under any Loan Document shall be effective when provided by any Co-Borrower, and
Lender shall be entitled to rely upon any notice or consent given by any Co-Borrower as being notice or consent given by Borrowers hereunder. 
  
 (b) In the event any obligation of Borrowers under any Loan Document is deemed to be an agreement by any Co-Borrower to answer for the debt or default of
another Co-Borrower or as a hypothecation of property as security therefor, each Co-Borrower represents and warrants that: (i) no representation has been made to it as to the creditworthiness of any other Co-Borrower and (ii) it has established
adequate means of obtaining from each other Co-Borrower on a continuing basis, financial or other information 

  

 4 

 
pertaining to each other Co-Borrower’s financial condition. Except as otherwise provided in the Loan Documents, each Co-Borrower expressly waives
diligence, demand, presentment, protest and notice of every kind and nature whatsoever, consents to the taking by Lender of any additional security in which either Co-Borrower has an interest for the Obligations, or the alteration or release in any
manner of any security now or hereafter held in connection with any obligations under any Loan Document, and consents that Lender and any Co-Borrower may deal with each other in connection with said obligations or otherwise, or alter any contracts
now or hereafter existing between them, in any manner whatsoever, including, without limitation, the renewal, extension, acceleration, changes in time for payment, and increases or decreases in any rent, rate of interest or other amounts owing, all
without in any way altering the liability of any Co-Borrower, or affecting any security for such obligations. Upon the occurrence of an Event of Default, Lender is hereby expressly given the right, at its option, to proceed in the enforcement of
such Obligations or Loan Document independently of any other remedy or security it may at any time hold in connection with such Obligations and it shall not be necessary for Lender to proceed upon or against and/or exhaust any other security or
remedy before proceeding to enforce its rights against any Co-Borrower. Each Co-Borrower further waives any right of subrogation, reimbursement, exoneration, contribution, indemnification, setoff or other recourse in respect of sums paid to Lender
by any Co-Borrower. 
  

	2.	CONDITIONS PRECEDENT 

  
 2.1 Conditions to the Loan. Lender shall not be obligated to make the initial Term Loan Advance or any additional Term Loan Advance or perform any other action hereunder until the following conditions have been
satisfied in a manner satisfactory to Lender, in its sole discretion, or waived in writing by Lender: 
  
 (a) the Loan Documents to be delivered on or before the Closing Date shall have been duly executed and delivered by the appropriate parties, all as set
forth in the Schedule of Documents (Schedule D); 
  
 (b)
Lender shall have received evidence satisfactory to it that the insurance policies provided for in Section 3.16 are in full force and effect, together with appropriate evidence showing loss payable or additional insured clauses or endorsements in
favor of Lender as required under such Section; 
  
 (c) Lender
shall have received an opinion(s) of counsel to the Borrowers with respect to the Loan Documents in form and substance satisfactory to Lender; 
  
 (d) the original principal amount of the initial Term Loan Advance shall not exceed the Maximum Amount; 
  
 (e) the Notice of Term Loan Advance relating to such Term Loan Advance shall
have been duly executed and delivered by Bronco; and 
  
 (f) With
respect to a Term Loan Advance after the Closing Date, the aggregate original principal amount of all Term Loan Advances (including the Term Loan Advance to be made on the applicable Funding Date) shall not exceed the Maximum Amount. 
  
 2.2 Further Conditions to each Term Loan Advance. Lender shall not be obligated to
fund any Term Loan Advance (including the initial Term Loan Advance), if, as of the date thereof: 
  
 (a) any representation or warranty by any Credit Party contained herein or in any of the other Loan Documents shall be untrue or incorrect as of such
date, except to the extent that any such representation or warranty is expressly stated to relate to a specific earlier date, in which case, such representation and warranty shall be true and correct as of such earlier date; or 
  
 (b) any event or circumstance that has had or reasonably could be expected to
have a Material Adverse Effect shall have occurred; or 
  
 (c) any
Default shall have occurred and be continuing or would result after giving effect to such Loan; or 
  
 (d) any of the documents contained in Schedule D are not provided to Lender in form and substance acceptable to Lender. 
  
 The request and acceptance by Borrowers of the proceeds of each Term Loan Advance shall be
deemed to constitute, as of the date of such request and the date of such acceptance, (i) a representation and warranty by Borrowers that all of the conditions in this Section 2.1 and Section 2.2 have been satisfied and (ii) a restatement by
Borrowers of each of the representations and warranties made by them in any Loan Document and a reaffirmation by Borrowers of the granting and continuance of Lender’s Liens pursuant to the Loan Documents. 
  

	3.	REPRESENTATIONS, WARRANTIES AND AFFIRMATIVE COVENANTS 

  
 To induce Lender to enter into this Agreement and to make the Loan, Borrowers and each other Credit Party executing this Agreement represent and warrant to Lender (each
of which representations and warranties shall survive the execution and delivery of this Agreement), and promise to and agree with Lender until the Termination Date as follows: 
  
 3.1 Corporate Existence; Compliance with Law. Each Corporate Credit Party: (a) is, as of the Closing Date, and will continue to be
(i) a corporation, limited liability company or limited partnership, as applicable, duly organized, validly existing and in good standing under the laws of the jurisdiction of its incorporation or organization, (ii) duly qualified to do business and
in good standing in each 

  

 5 

 
other jurisdiction where its ownership or lease of property or the conduct of its business requires such qualification, except where the failure to be so
qualified could not reasonably be expected to have a Material Adverse Effect, and (iii) in compliance with all Requirements of Law and Contractual Obligations, except to the extent failure to comply therewith could not, individually or in the
aggregate, reasonably be expected to have a Material Adverse Effect; and (b) has and will continue to have (i) the requisite corporate power and authority and the legal right to execute, deliver and perform its obligations under the Loan Documents,
and to own, pledge, mortgage or otherwise encumber and operate its properties, to lease the property it operates under lease, and to conduct its business as now, heretofore or proposed to be conducted, and (ii) all licenses, permits, franchises,
rights, powers, consents or approvals from or by all Persons or Governmental Authorities having jurisdiction over such Corporate Credit Party that are necessary or appropriate for the conduct of its business. 
  
 3.2 Executive Offices; Corporate or Other Names. (a) Each Corporate Credit
Party’s name as it appears in official filings in the state of its incorporation or organization, (b) the type of entity of each Corporate Credit Party, (c) the organizational identification number issued by each such Credit Party’s state
of incorporation or organization or a statement that no such number has been issued, (d) each Corporate Credit Party’s state of organization or incorporation, and (e) the location of each Corporate Credit Party’s chief executive office,
principal executive office, corporate offices, warehouses, other locations of Collateral and locations where records with respect to Collateral are kept (including in each case the county of such locations) are as set forth in Disclosure Schedule
(3.2) and, except as set forth in such Disclosure Schedule, such locations have not changed during the preceding twelve months. As of the Closing Date, during the prior five years, except as set forth in Disclosure Schedule (3.2), no
Corporate Credit Party has been known as or conducted business in any other name (including trade names). Each Corporate Credit Party has only one state of incorporation or organization. 
  
 3.3 Corporate Power; Authorization; Enforceable Obligations. The execution, delivery and performance by each Credit Party of the Loan
Documents to which it is a party, and the creation of all Liens provided for herein and therein: (a) are and will continue to be within such Credit Party’s power and authority; (b) have been and will continue to be duly authorized by all
necessary or proper action; (c) are not and will not be in violation of any Requirement of Law or Contractual Obligation of such Credit Party (d) do not and will not result in the creation or imposition of any Lien (other than Permitted
Encumbrances) upon any of the Collateral; and (e) do not and will not require the consent or approval of any Governmental Authority or any other Person. As of the Closing Date, each Loan Document shall have been duly executed and delivered on behalf
of each Credit Party thereto, and each such Loan Document upon such execution and delivery shall be and will continue to be a legal, valid and binding obligation of such Credit Party, enforceable against it in accordance with its terms, except as
such enforcement may be limited by bankruptcy, insolvency and other similar laws affecting creditors’ rights generally. 
  
 3.4 Financial Statements and Projections; Books and Records. (a) The Financial Statements delivered by Bronco and its Subsidiaries on a consolidated basis to
Lender for its most recently ended Fiscal Year and Fiscal Quarter, are true, correct and complete and reflect fairly and accurately the financial condition of such Borrower as of the date of each such Financial Statement in accordance with GAAP. The
Projections most recently delivered by each Borrower to Lender have been prepared in good faith, with care and diligence and use assumptions that are reasonable under the circumstances at the time such Projections were prepared and as of the date
delivered to Lender and all such assumptions are disclosed in the Projections. 
  
 (b) Each Borrower and each other Corporate Credit Party shall keep adequate Books and Records with respect to the Collateral and its business activities in which proper entries, reflecting all consolidated and
consolidating financial transactions, and payments and credits received on, and all other dealings with, the Collateral, will be made in accordance with GAAP and all Requirements of Law and on a basis consistent with the Financial Statements.

  
 3.5 Material Adverse Change. Between the date of the most recently
audited Financial Statements of Bronco and its Subsidiaries on a consolidated basis delivered to Lender and the Closing Date: (a) no Corporate Credit Party has incurred any obligations, contingent or non-contingent liabilities, or liabilities for
Charges, long-term leases or unusual forward or long-term commitments that are not reflected in the Projections delivered on the Closing Date and which could, alone or in the aggregate, reasonably be expected to have a Material Adverse Effect; (b)
there has been no material deviation from such Projections; and (c) no events have occurred that alone or in the aggregate has had or could reasonably be expected to have a Material Adverse Effect. No Requirement of Law or Contractual Obligation of
any Credit Party has or have had or could reasonably be expected to have a Material Adverse Effect. No Credit Party is in default, and to such Credit Party’s knowledge no third party is in default, under or with respect to any of its
Contractual Obligations, that alone or in the aggregate has had or could reasonably be expected to have a Material Adverse Effect. 
  
 3.6 Real Estate; Property. The real estate listed in Disclosure Schedule (3.6) constitutes all of the real property owned, leased, or used by each Corporate
Credit Party in its business, and such Credit Party will not execute any material agreement or contract in respect of such real estate after the date of this Agreement without giving Lender prompt prior written notice thereof. Each Corporate Credit
Party holds and will continue to hold good and marketable fee simple title to all of its owned real estate, and good and marketable title to all of its other properties and assets, and valid and insurable leasehold interests in all of its leases
(both as lessor and lessee, sublessee or assignee), and none of the properties and assets of any Corporate Credit Party are or will be subject to any Liens, except 

  

 6 

 
Permitted Encumbrances. With respect to each of the premises identified in Disclosure Schedule (3.2) on or prior the Closing Date a bailee, landlord
or mortgagee agreement acceptable to Lender has been obtained. 
  
 3.7
Ventures, Subsidiaries and Affiliates; Outstanding Stock and Indebtedness. Except as set forth in Disclosure Schedule (3.7), as of the Closing Date no Corporate Credit Party has any Subsidiaries, is engaged in any joint venture or
partnership with any other Person, or is an Affiliate of any other Person. All of the issued and outstanding Stock of each Corporate Credit Party (including all rights to purchase, options, warrants or similar rights or agreements pursuant to which
any Corporate Credit Party may be required to issue, sell, repurchase or redeem any of its Stock) as of the Closing Date is owned by each of the Stockholders (and in the amounts) set forth in Disclosure Schedule (3.7). All outstanding
Indebtedness of each Corporate Credit Party as of the Closing Date is described in Disclosure Schedule (5(b)). 
  
 3.8 Government Regulation; Margin Regulations. No Corporate Credit Party is subject to or regulated under any Federal or state statute, rule or regulation that
restricts or limits such Person’s ability to incur Indebtedness, pledge its assets, or to perform its obligations under the Loan Documents. The making of the Loan, the application of the proceeds and repayment thereof, and the consummation of
the transactions contemplated by the Loan Documents do not and will not violate any Requirement of Law. No Corporate Credit Party is engaged, nor will it engage, in the business of extending credit for the purpose of “purchasing” or
“carrying” any “margin security” as such terms are defined in Regulation U of the Federal Reserve Board as now and hereafter in effect (such securities being referred to herein as “Margin Stock”). No Corporate Credit
Party owns any Margin Stock, and none of the proceeds of the Loan or other extensions of credit under this Agreement will be used, directly or indirectly, for the purpose of purchasing or carrying any Margin Stock or reducing or retiring any
Indebtedness that was originally incurred to purchase or carry any Margin Stock. No Corporate Credit Party will take or permit to be taken any action that might cause any Loan Document to violate any regulation of the Federal Reserve Board.

  
 3.9 Taxes; Charges. Except as disclosed in Disclosure Schedule
(3.9) all tax returns, reports and statements required by any Governmental Authority to be filed by each Borrower or any other Credit Party have, as of the Closing Date, been filed and will, until the Termination Date, be filed with the
appropriate Governmental Authority and no tax Lien has been filed against any Credit Party or any Credit Party’s property. Proper and accurate amounts have been and will be withheld by each Borrower and each other Credit Party from their
respective employees for all periods in complete compliance with all Requirements of Law and such withholdings have and will be timely paid to the appropriate Governmental Authorities. Disclosure Schedule (3.9) sets forth as of the Closing
Date those taxable years for which any Credit Party’s tax returns are currently being audited by the IRS or any other applicable Governmental Authority and any assessments or threatened assessments in connection with such audit, or otherwise
currently outstanding. Except as described on Disclosure Schedule (3.9), none of the Credit Parties or their respective predecessors are liable for any Charges: (a) under any agreement (including any tax sharing agreements or agreement extending the
period of assessment of any Charges) or (b) to each Credit Party’s knowledge, as a transferee. As of the Closing Date, no Credit Party has agreed or been requested to make any adjustment under IRC Section 481(a), by reason of a change in
accounting method or otherwise, which could reasonably be expected to have a Material Adverse Effect. 
  
 3.10 Payment of Obligations. Each Credit Party will pay, discharge or otherwise satisfy at or before maturity or before they become delinquent, as the case may be, all of its Charges and other obligations of
whatever nature, except where the amount or validity thereof is currently being contested in good faith by appropriate proceedings and reserves in conformity with GAAP with respect thereto have been provided on the books of such Credit Party and
none of the Collateral is or could reasonably be expected to become subject to any Lien or forfeiture or loss as a result of such contest. 
  
 3.11 ERISA. No ERISA Event has occurred or is reasonably expected to occur that, when taken together with all other existing ERISA Events, could reasonably be
expected to result in a liability of any Credit Party of more than the Minimum Actionable Amount. Except as disclosed in Disclosure Schedule (3.11), the present value of all accumulated benefit obligations of the Credit Parties under each Plan
(based on the assumptions used for purposes of Statement of Financial Accounting Standards No. 87) did not, as of the date of the most recent Financial Statements reflecting such amounts, exceed the fair market value of the assets of such Plan by
more than the Minimum Actionable Amount, and the present value of all accumulated benefit obligations of all underfunded Plans (based on the assumptions used for purposes of Statement of Financial Account Standards No. 87) did not, as of the date of
the most recent Financial Statements reflecting such amounts, exceed the fair market value of the assets of such underfunded Plans by more than the Minimum Actionable Amount. No Credit Party or ERISA Affiliate has incurred or reasonably expects to
incur any Withdrawal Liability in excess of the Minimum Actionable Amount. 
  
 3.12 Litigation. No Litigation is pending or, to the knowledge of any Credit Party, threatened by or against any Credit Party or against any Credit Party’s properties or revenues (a) with respect to any of the Loan Documents or
any of the transactions contemplated hereby or thereby, or (b) that could reasonably be expected to have a Material Adverse Effect. Except as set forth in Disclosure Schedule (3.12), as of the Closing Date there is no Litigation pending or
threatened against any Credit Party that seeks damages in excess of $50,000 or injunctive relief or alleges criminal misconduct of any Credit Party. Each Credit Party shall notify Lender promptly in 

  

 7 

 
writing upon learning of the existence, threat or commencement of any Litigation against any Credit Party, any ERISA Affiliate or any Plan or any allegation
of criminal misconduct against any Credit Party. 
  
 3.13 Intellectual
Property. As of the Closing Date, all material Intellectual Property owned or used by any Corporate Credit Party is listed, together with application or registration numbers, where applicable, in Disclosure Schedule (3.13). Each Corporate
Credit Party owns, or is licensed to use, all Intellectual Property necessary to conduct its business as currently conducted except for such Intellectual Property the failure of which to own or license could not reasonably be expected to have a
Material Adverse Effect. Each Corporate Credit Party will maintain the patenting and registration of all Intellectual Property with the United States Patent and Trademark Office, the United States Copyright Office, or other appropriate Governmental
Authority and each Corporate Credit Party will promptly patent or register, as the case may be, all new Intellectual Property and notify Lender in writing five Business Days prior to filing any such new patent or registration. 
  
 3.14 Full Disclosure. No information contained in any Loan Document, the Financial
Statements or any written statement furnished by or on behalf of any Credit Party under any Loan Document, or to induce Lender to execute the Loan Documents, contains any untrue statement of a material fact or omits to state a material fact
necessary to make the statements contained herein or therein not misleading in light of the circumstances under which they were made. 
  
 3.15 Hazardous Materials. Except as set forth in Disclosure Schedule (3.15), as of the Closing Date, (a) each real property location owned, leased or
occupied by each Corporate Credit Party (the “Real Property”) is maintained free of contamination from any Hazardous Material (except for Hazardous Materials stored and used in the ordinary course of business and in accordance with
applicable Environmental Laws), (b) no Corporate Credit Party is subject to any Environmental Liabilities or, to any Credit Party’s knowledge, potential Environmental Liabilities, in excess of $50,000 in the aggregate, (c) no notice has been
received by any Corporate Credit Party identifying it as a “potentially responsible party” or requesting information under CERCLA or analogous state statutes, and to the knowledge of any Credit Party, there are no facts, circumstances or
conditions that may result in any Corporate Credit Party being identified as a “potentially responsible party” under CERCLA or analogous state statutes; and (d) each Corporate Credit Party has provided to Lender copies of all existing
environmental reports, reviews and audits and all written information pertaining to actual or potential Environmental Liabilities, in each case relating to any Corporate Credit Party. Each Corporate Credit Party: (i) shall comply in all material
respects with all applicable Environmental Laws and environmental permits; (ii) shall notify Lender in writing within seven days if and when it becomes aware of any Release, on, at, in, under, above, to, from or about any of its Real Property; and
(iii) shall promptly forward to Lender a copy of any order, notice, permit, application, or any communication or report received by it or any other Credit Party in connection with any such Release. 
  
 3.16 Insurance. As of the Closing Date, Disclosure Schedule (3.16) lists all
insurance of any nature maintained for current occurrences by each Borrower and each other Corporate Credit Party, as well as a summary of the terms of such insurance. Each Corporate Credit Party shall deliver to Lender certified copies and
endorsements to all of its and those of its Subsidiaries (a) ”All Risk” and business interruption insurance policies naming Lender loss payee, and (b) general liability and other liability policies naming Lender as an additional insured,
which policies shall be in form and substance acceptable to Lender. All policies of insurance on real and personal property will contain an endorsement, in form and substance acceptable to Lender, showing loss payable to Lender (Form 438 BFU or
equivalent) and such other endorsements as required by Lender. Such endorsement, or an independent instrument furnished to Lender, will provide that the insurance companies will give Lender at least 30 days’ prior written notice before any such
policy or policies of insurance shall be altered or canceled and that no act or default of any Borrower or any other Person shall affect the right of Lender to recover under such policy or policies of insurance in case of loss or damage. Each
Corporate Credit Party shall direct all present and future insurers under its “All Risk” policies of insurance to pay all proceeds payable thereunder directly to Lender. If any insurance proceeds are paid by check, draft or other
instrument payable to any Credit Party and Lender jointly, Lender may endorse such Credit Party’s name thereon and do such other things as Lender may deem advisable to reduce the same to cash. Lender reserves the right at any time, upon review
of each Credit Party’s risk profile, to require additional forms and limits of insurance. Each Corporate Credit Party shall, on each anniversary of the Closing Date and from time to time at Lender’s request, deliver to Lender a report by a
reputable insurance broker, satisfactory to Lender, with respect to such Person’s insurance policies. 
  
 3.17 Reserved. 
  
 3.18 Reserved.

  
 3.19 Conduct of Business. Each Corporate Credit Party (a) shall conduct
its business substantially as now conducted or as otherwise permitted hereunder, and (b) shall at all times maintain, preserve and protect all of the Collateral and such Credit Party’s other property, used or useful in the conduct of its
business and keep the same in good repair, working order and condition and make, or cause to be made, all necessary or appropriate repairs, replacements and improvements thereto consistent with industry practices. 
  

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 3.20 Further Assurances. At any time and from time to time, upon the written request of Lender and at the sole
expense of Borrowers, Borrowers and each other Credit Party shall promptly and duly execute and deliver any and all such further instruments and documents and take such further action as Lender may reasonably deem desirable (a) to obtain the full
benefits of this Agreement and the other Loan Documents, (b) to protect, preserve and maintain Lender’s rights in any Collateral or (c) to enable Lender to exercise all or any of the rights and powers herein granted. 
  

	4.	FINANCIAL MATTERS; REPORTS 

  
 4.1 Reports and Notices. From the Closing Date until the Termination Date, Bronco and its Subsidiaries on a consolidated basis shall deliver to Lender: 
  
 (a) within 60 days following the end of each Fiscal Quarter, the Financial
Statements for such Fiscal Quarter, which shall provide comparisons to budget and actual results for the corresponding period during the prior Fiscal Year, both on a monthly and year-to-date basis, and accompanied by a certification in the form of
Exhibit F by the Chief Executive Officer or Chief Financial Officer (or such other officer acceptable to Lender in Lender’s sole and absolute discretion) of Bronco that such Financial Statements are complete and correct and that there
was no Default (or specifying those Defaults of which he or she was aware) and showing in reasonable detail the calculations used in determining compliance with the financial covenants hereunder, if any; 
  
 (b) within 90 days following the close of each Fiscal Year, the Financial
Statements for such Fiscal Year certified without qualification by an independent certified accounting firm acceptable to Lender, which shall provide comparisons to the prior Fiscal Year, and shall be accompanied by (i) a statement in reasonable
detail showing the calculations used in determining compliance with the financial covenants hereunder, (ii) a report from such accountants of Bronco and its Subsidiaries to the effect that in connection with their audit examination nothing has come
to their attention to cause them to believe that a Default has occurred or specifying those Defaults of which they are aware, and (iii) any management letter that may be issued; provided, however, that Bronco and its Subsidiaries shall have
one 120 days following the close of its Fiscal Year ending December 31, 2003 to comply with this subsection (b); 
  
 (c) not less than 30 days prior to the close of each Fiscal Year, the Projections, which will be prepared by Bronco and its Subsidiaries on a consolidated
basis, in good faith, with care and diligence, and using assumptions that are reasonable under the circumstances at the time such Projections are delivered to Lender and disclosed therein when delivered; and 
  
 (d) all the reports and other information set forth in Exhibit A in
the time frames set forth therein. 
  
 4.2 Financial Covenants. Bronco and
its Subsidiaries on a consolidated basis shall not breach any of the financial covenants set forth in Schedule E. For purposes of Section 7.1, a breach of a financial covenant set forth in Schedule E shall be deemed to have occurred as of any
date of determination by Lender or as of the last day of any specified measurement period, regardless of when the Financial Statements reflecting such breach are delivered to Lender. 
  
 4.3 Other Reports and Information. Each Borrower shall advise Lender promptly, in reasonable detail, of: (a) any Lien, other than
Permitted Encumbrances, attaching to or asserted against any of the Collateral or any occurrence causing a material loss or decline in value of any Collateral and the estimated (or actual, if available) amount of such loss or decline; (b) any
material change in the composition of the Collateral; and (c) the occurrence of any Default or other event that has had or could reasonably be expected to have a Material Adverse Effect. Each Borrower shall, upon request of Lender, furnish to Lender
such other reports and information in connection with the affairs, business, financial condition, operations, prospects or management of such Borrower or any other Credit Party or the Collateral as Lender may request, all in reasonable detail.

  

	5.	NEGATIVE COVENANTS 

  
 Borrowers covenant and agree that, without Lender’s prior written consent, from the Closing Date until the Termination Date, no Borrower shall, directly or indirectly, by operation of law or otherwise:

  
 (a) form any Subsidiary or merge with, consolidate with,
acquire all or substantially all of the assets or Stock of, or otherwise combine with or make any investment in or loan or advance to any Person; 
  
 (b) cancel any debt owing to it or create, incur, assume or permit to exist any Indebtedness, except: (i) the Obligations and (ii) Indebtedness existing
as of the Closing Date set forth in Disclosure Schedule 5(b); 
  

 9 

 (c) except as provided in Schedule E, enter into any lending, borrowing or other commercial
transaction with any of its employees, directors, Affiliates or any other Credit Party (including upstreaming and downstreaming of cash and intercompany advances and payments by a Credit Party on behalf of another Credit Party that are not otherwise
permitted hereunder); 
  
 (d) make any changes in any of its
business objectives, purposes, or operations that could reasonably be expected to adversely affect repayment of the Obligations or could reasonably be expected to have a Material Adverse Effect or engage in any business other than that presently
engaged in or proposed to be engaged in the Projections delivered to Lender on the Closing Date or amend its charter or by-laws or other organizational documents; 
  
 (e) create or permit any Lien on any of its properties or assets, except for Permitted Encumbrances; 
  
 (f) except as permitted in Section 1.2 hereof, sell, transfer, issue, convey,
assign or otherwise dispose of any of its assets or properties (other than its Accounts Receivable) or any shares of its Stock or engage in any sale-leaseback, synthetic lease or similar transaction (provided, that the foregoing shall not prohibit
the sale of Inventory or obsolete or unnecessary Equipment in the ordinary course of its business); 
  
 (g) change (i) its name as it appears in official filings in the state of its incorporation or organization, (ii) its chief executive office, principal
executive office, corporate offices, warehouses or other Collateral locations, or location of its records concerning the Collateral, (iii) the type of legal entity that it is, (iv) its organization identification number, if any, issued by its state
of incorporation or organization, or (v) its state of incorporation or organization, or acquire, lease or use any real estate after the Closing Date without such Person, in each instance, giving 30 days prior written notice thereof to Lender and
taking all actions deemed necessary or appropriate by Lender to continuously protect and perfect Lender’s Liens upon the Collateral; or 
  
 (h) make or permit any Restricted Payment. 
  

	6.	SECURITY INTEREST 

  
 6.1 Grant of Security Interest. (a) As collateral security for the prompt and complete payment and performance of the Obligations, each of the Borrowers and any other Credit Party executing this Agreement
hereby grants to the Lender a security interest in and Lien upon all of its property and assets, whether real or personal, tangible or intangible, and whether now owned or hereafter acquired, or in which it now has or at any time in the future may
acquire any right, title, or interest, including all of the following property in which it now has or at any time in the future may acquire any right, title or interest: all Accounts other than Accounts Receivable; all Deposit Accounts, all other
bank accounts and all funds on deposit therein; all Investment Property; all Stock; all Goods (including Inventory, Equipment and Fixtures); all Chattel Paper, Documents and Instruments; all Books and Records; all General Intangibles (including all
Intellectual Property, contract rights, choses in action, Payment Intangibles and Software); all Letter-of-Credit Rights; all Supporting Obligations; and to the extent not otherwise included, all Proceeds, tort claims, insurance claims and other
rights to payment not otherwise included in the foregoing and products of all and any of the foregoing and all accessions to, substitutions and replacements for, and rents and profits of, each of the foregoing, but excluding in all events Hazardous
Waste (all of the foregoing, together with any other collateral pledged to the Lender pursuant to any other Loan Document, collectively, the “Collateral”); provided, however, in no event shall “Collateral” include any of
any Borrower’s (i) money, cash or cash equivalents or (ii) Accounts Receivable. 
  
 (b) Borrowers, Lender and each other Credit Party executing this Agreement agree that this Agreement creates, and is intended to create, valid and continuing Liens upon the Collateral in favor of Lender. Borrowers and
each other Credit Party executing this Agreement represent, warrant and promise to Lender that: (i) each Borrower and each other Credit Party granting a Lien in Collateral has rights in and the power to transfer each item of the Collateral upon
which it purports to grant a Lien pursuant to the Loan Documents, free and clear of any and all Liens or claims of others, other than Permitted Encumbrances; (ii) the security interests granted pursuant to this Agreement, upon completion of the
filings and other actions listed on Disclosure Schedule (6.1) (which, in the case of all filings and other documents referred to in said Schedule, have been delivered to the Lender in duly executed form) will constitute valid perfected
security interests in all of the Collateral in favor of the Lender as security for the prompt and complete payment and performance of the Obligations, enforceable in accordance with the terms hereof against any and all creditors of and purchasers
from any Credit Party (other than purchasers of Inventory in the ordinary course of business) and such security interests are prior to all other Liens on the Collateral in existence on the date hereof except for Permitted Encumbrances that have
priority by operation of law; and (iii) no effective security agreement, mortgage, deed of trust, financing statement, equivalent security or Lien instrument or continuation statement covering all or any part of the Collateral is or will be on file
or of record in any public office, except those relating to Permitted Encumbrances. Borrowers and each other Credit Party executing this Agreement promise to defend the right, title and interest of Lender in and to the Collateral against the claims
and demands of all Persons whomsoever, and each shall take such actions, including (w) all actions necessary to grant Lender “control” of any Investment Property, Deposit Accounts, Letter-of-Credit Rights or electronic Chattel Paper owned
by such Credit Party, with any agreements establishing control to be in form and substance satisfactory to Lender, (x) the prompt delivery of all original Instruments, Chattel Paper, negotiable Documents and 

  

 10 

 
certificated Stock owned by such Credit Party (in each case, accompanied by stock powers, allonges or other instruments of transfer executed in blank, (y)
notification of Lender’s interest in Collateral at Lender’s request, and (z) the institution of litigation against third parties as shall be prudent in order to protect and preserve each Credit Party’s and Lender’s respective and
several interests in the Collateral. Each Borrower (and any other Credit Party granting a Lien in Collateral) shall mark its Books and Records pertaining to the Collateral to evidence the Loan Documents and the Liens granted under the Loan
Documents. If any Credit Party retains possession of any Chattel Paper or Instrument with Lender’s consent, such Chattel Paper and Instruments shall be marked with the following legend: “This writing and the obligations evidenced or
secured hereby are subject to the security interest of General Electric Capital Corporation.” Each Credit Party executing this Agreement shall promptly, and in any event within two Business Days after the same is acquired by it, notify Lender
of any commercial tort claims (as defined in the Code) acquired by it and unless otherwise consented by Lender, such Credit Party shall enter into a supplement to this Loan Agreement granting to Lender a Lien in such commercial tort claim.

  
 6.2 Lender’s Rights. (a) Lender may, (i) at any time in
Lender’s own name or in the name of any Borrower, communicate with Account Debtors, parties to Contracts, and obligors in respect of Instruments, Chattel Paper or other Collateral to verify to Lender’s satisfaction, the existence, amount
and terms of, and any other matter relating to, Accounts, Payment Intangibles, Instruments, Chattel Paper or other Collateral, and (ii) at any time after a Default has occurred and without prior notice to any Borrower or any other Credit Party,
notify Account Debtors and other Persons obligated on any Collateral that Lender has a security interest therein and that payments shall be made directly to Lender. Upon the request of Lender, the applicable Borrower shall so notify such Account
Debtors, parties to Contracts, and obligors in respect of Instruments, Chattel Paper or other Collateral. Each Borrower hereby irrevocably constitutes Lender or Lender’s designee as such Borrower’s attorney with power, which is coupled
with an interest, to endorse such Borrower’s name upon any notes, acceptance drafts, money orders or other evidences of payment or Collateral. 
  
 (b) Each Borrower shall remain liable under each Contract, Instrument and License to observe and perform all the conditions and obligations to be observed
and performed by it thereunder, and Lender shall have no obligation or liability whatsoever to any Person under any Contract, Instrument or License (between any Borrower or any other Credit Party and any Person other than Lender) by reason of or
arising out of the execution, delivery or performance of this Agreement, and Lender shall not be required or obligated in any manner (i) to perform or fulfill any of the obligations of any Borrower, (ii) to make any payment or inquiry, or (iii) to
take any action of any kind to collect, compromise or enforce any performance or the payment of any amounts which may have been assigned to it or to which it may be entitled at any time or times under or pursuant to any Contract, Instrument or
License. 
  
 (c) Each Borrower and each other Credit Party shall,
with respect to each owned, leased, or controlled property, during normal business hours and upon reasonable advance notice (unless a Default shall have occurred, in which event no notice shall be required and Lender shall have access at any and all
times): (i) provide access to such property to Lender and any of its officers, employees and agents, as frequently as Lender determines to be appropriate; (ii) permit Lender and any of its officers, employees and agents to inspect, audit and make
extracts and copies (or take originals if reasonably necessary) from all of such Borrower’s and such Credit Party’s Books and Records; and (iii) permit Lender to inspect, review, evaluate and make physical verifications and appraisals of
the Inventory and other Collateral in any manner and through any medium that Lender considers advisable, and such Borrower and such Credit Party agree to render to Lender, at such Borrower’s and such Credit Party’s cost and expense, such
clerical and other assistance as may be reasonably requested with regard thereto. 
  
 (d) After the occurrence of a Default, each Borrower, at its own expense, shall cause the certified public accountant then engaged by such Borrower to prepare and deliver to Lender at any time and from time to time,
promptly upon Lender’s request, the following reports: (i) a reconciliation of all Accounts; (ii) an aging of all Accounts; (iii) trial balances; and (iv) test verifications of such Accounts as Lender may request. Each Borrower, at its own
expense, shall cause its certified independent public accountants to deliver to Lender the results of any physical verifications of all or any portion of the Inventory made or observed by such accountants when and if such verification is conducted.
Lender shall be permitted to observe and consult with such Borrower’s accountants in the performance of these tasks. 
  
 6.3 Lender’s Appointment as Attorney-in-fact. On the Closing Date, each Borrower and each other Credit Party executing this Agreement shall execute and
deliver a Power of Attorney in the form attached as Exhibit E. The power of attorney granted pursuant to the Power of Attorney and all powers granted under any Loan Document are powers coupled with an interest and shall be irrevocable until
the Termination Date. The powers conferred on Lender under the Powers of Attorney are solely to protect Lender’s interests in the Collateral and shall not impose any duty upon it to exercise any such powers. Lender agrees not to exercise any
power or authority granted under any Power of Attorney unless an Event of Default has occurred. Each Borrower also hereby (a) authorizes Lender to file any financing statements, continuation statements or amendments thereto that (i) indicate the
Collateral (A) as all assets of such Borrower (or any portion of such Borrower’s assets) other than Accounts Receivable or words of similar effect, regardless of whether any particular asset comprised in the Collateral falls within the scope of
Article 9 of the Code of such jurisdiction, or (B) as being of an equal or lesser scope or with greater detail, and (ii) contain any other information required by Part 5 of Article 9 of the Code for the sufficiency or filing office acceptance of any
financing statement, continuation statement or amendment and (b) ratifies its 

  

 11 

 
authorization for Lender to have filed any initial financial statements, or amendments thereto if filed prior to the date hereof. Each Borrower acknowledges
that it is not authorized to file any financing statement or amendment or termination statement with respect to any financing statement covering the Collateral without the prior written consent of Lender and agrees that it will not do so without the
prior written consent of Lender, subject to such Borrower’s rights under Section 9-509(d)(2) of the Code. 
  
 6.4 Grant of License to Use Intellectual Property Collateral. Each Borrower and each other Credit Party executing this Agreement hereby grants to Lender an irrevocable, non-exclusive license (exercisable upon
the occurrence and during the continuance of an Event of Default without payment of royalty or other compensation to any Borrower or such Credit Party) to use, transfer, license or sublicense any Intellectual Property now owned, licensed to, or
hereafter acquired by such Borrower or such Credit Party, and wherever the same may be located, and including in such license access to all media in which any of the licensed items may be recorded or stored and to all computer software and programs
used for the compilation or printout thereof, and represents, promises and agrees that any such license or sublicense is not and will not be in conflict with the contractual or commercial rights of any third Person; provided, that such license will
terminate on the Termination Date. 
  

	7.	EVENTS OF DEFAULT: RIGHTS AND REMEDIES 

  
 7.1 Events of Default. The occurrence of any one or more of the following events (regardless of the reason therefor) shall constitute an “Event of
Default” hereunder which shall be deemed to be continuing until waived in writing by Lender in accordance with Section 9.3: 
  
 (a) Borrowers shall fail to make any payment in respect of any Obligations within 10 calendar days of when due and payable or declared due and payable; or

  
 (b) Any Borrower shall fail or neglect to perform, keep or
observe any of the covenants, promises, agreements, requirements, conditions or other terms or provisions contained in Sections 4.1, 4.2, or 5 of this Agreement; or 
  
 (c) Any Borrower or any Person that is a party to a Loan Document (other than Lender) shall fail to perform, keep or observe
any of the other covenants, promises, agreements, requirements, conditions or other terms or provisions contained in this Agreement or any of the other Loan Documents (and not otherwise covered in this Section 7.1) and such failure shall not have
been cured within 30 days after written notice of such failure has been given to such Borrower or such other Person; or 
  
 (d) an event of default shall occur under any Contractual Obligation of any Borrower (other than this Agreement and the other Loan Documents), and such
event of default (i) involves the failure to make any payment (whether or not such payment is blocked pursuant to the terms of an intercreditor agreement or otherwise), whether of principal, interest or otherwise, and whether due by scheduled
maturity, required prepayment, acceleration, demand or otherwise, in respect of any Indebtedness (other than the Obligations) of such Person in an aggregate amount exceeding the Minimum Actionable Amount, or (ii) causes (or permits any holder of
such Indebtedness or a trustee to cause) such Indebtedness, or a portion thereof, in an aggregate amount exceeding the Minimum Actionable Amount to become due prior to its stated maturity or prior to its regularly scheduled date of payment; or

  
 (e) any representation or warranty in this Agreement or any
other Loan Document, or in any written statement pursuant hereto or thereto, or in any report, financial statement or certificate made or delivered to Lender by any Borrower or any other Credit Party shall be untrue or incorrect as of the date when
made or deemed made, regardless of whether such breach involves a representation or warranty with respect to a Credit Party that has not signed this Agreement; or 
  
 (f) there shall be commenced against any Borrower or any other Credit Party any Litigation seeking issuance of a warrant of
attachment, execution, distraint or similar process against all or any substantial part of its assets that results in the entry of an order for any such relief that remains unstayed or undismissed for 30 consecutive days; or any Borrower or any
other Credit Party shall have concealed, removed or permitted to be concealed or removed, any part of its property with intent to hinder, delay or defraud any of its creditors or made or suffered a transfer of any of its property or the incurring of
an obligation that may be fraudulent under any bankruptcy, fraudulent transfer or other similar law; or 
  
 (g) a case or proceeding shall have been commenced involuntarily against any Borrower or any other Credit Party in a court having competent jurisdiction
seeking a decree or order: (i) under the United States Bankruptcy Code or any other applicable Federal, state or foreign bankruptcy or other similar law, and seeking either (A) the appointment of a custodian, receiver, liquidator, assignee, trustee
or sequestrator (or similar official) for such Person or of any substantial part of its properties, or (B) the reorganization or winding up or liquidation of the affairs of any such Person, and such case or proceeding shall remain undismissed or
unstayed for 60 consecutive days or such court shall enter a decree or order granting the relief sought in such case or proceeding; or (ii) invalidating or denying any Person’s right, power, or competence to enter into or perform any of its
obligations under any Loan Document or 

  

 12 

 
invalidating or denying the validity or enforceability of this Agreement or any other Loan Document or any action taken hereunder or thereunder; or

  
 (h) Any Borrower or any other Credit Party shall (i) commence
any case, proceeding or other action under any existing or future law of any jurisdiction, domestic or foreign, relating to bankruptcy, insolvency, reorganization, conservatorship or relief of debtors, seeking to have an order for relief entered
with respect to it or seeking appointment of a custodian, receiver, liquidator, assignee, trustee or sequestrator (or similar official) for it or any substantial part of its properties, (ii) make a general assignment for the benefit of creditors,
(iii) consent to or take any action in furtherance of, or, indicating its consent to, approval of, or acquiescence in, any of the acts set forth in paragraphs (f) or (g) of this Section 7.1 or clauses (i) or (ii) of this subsection (h), or (iv)
shall admit in writing its inability to, or shall be generally unable to, pay its debts as such debts become due; or 
  
 (i) a final judgment or judgments for the payment of money in excess of the Minimum Actionable Amount in the aggregate shall be rendered against any
Borrower or any other Credit Party, unless the same shall be (i) fully covered by insurance and the issuer(s) of the applicable policies shall have acknowledged full coverage in writing within 15 days of judgment, or (ii) vacated, stayed, bonded,
paid or discharged within a period of 15 days from the date of such judgment; or 
  
 (j) any other event shall have occurred that has had or could reasonably be expected to have a Material Adverse Effect; or 
  
 (k) any provision of any Loan Document shall for any reason cease to be valid, binding and enforceable in accordance with its terms, or any Lien granted,
or intended by the Loan Documents to be granted, to Lender shall cease to be a valid and perfected Lien having the first priority (or a lesser priority if expressly permitted in the Loan Documents) in any of the Collateral (or any Credit Party shall
so assert any of the foregoing); or 
  
 (l) a Change of Control
shall have occurred with respect to any Corporate Credit Party; or 
  
 (m) an ERISA Event shall have occurred that, in the opinion of the Lender, when taken together with all other ERISA Events that have occurred and are then continuing, could reasonably be expected to result in liability of any Credit Party
in an aggregate amount exceeding the Minimum Actionable Amount; or 
  
 (n) the occurrence of an “event of default” or a “default” (however defined) under any other Loan Document; or 
  
 (o) any Guarantor shall repudiate, purport to revoke or fail to perform such Guarantor’s obligations under its Guaranty, or any individual Guarantor
shall die. 
  
 7.2 Remedies. (a) If an Event of Default shall have
occurred, then Lender may terminate or suspend its obligation to make further Term Loan Advances. In addition, if an Event of Default shall have occurred and not been waived in writing by Lender, Lender may, without notice, take any one or more of
the following actions: (i) declare all or any portion of the Obligations to be forthwith due and payable; or (ii) exercise any rights and remedies provided to Lender under the Loan Documents or at law or equity, including all remedies provided under
the Code; provided, that upon the occurrence of any Event of Default specified in Sections 7.1(f), (g) or (h), the Obligations shall become immediately due and payable (and any obligation of Lender to make further Term Loan Advances, if not
previously terminated, shall immediately terminate) without declaration, notice or demand by Lender. 
  
 (b) Without limiting the generality of the foregoing, each Borrower and each other Credit Party executing this Agreement expressly agrees that upon the
occurrence of any Event of Default, Lender may collect, receive, assemble, process, appropriate and realize upon the Collateral, or any part thereof, and may forthwith sell, lease, assign, give an option or options to purchase or otherwise dispose
of and deliver said Collateral (or contract to do so), or any part thereof, in one or more parcels at public or private sale or sales, at any exchange at such prices as it may deem best, for cash or on credit or for future delivery without
assumption of any credit risk. Lender shall have the right upon any such public sale, to the extent permitted by law, to purchase for the benefit of Lender the whole or any part of said Collateral so sold, free of any right of equity of redemption,
which right each Borrower and each other Credit Party executing this Agreement hereby releases. Such sales may be adjourned, or continued from time to time with or without notice. Lender shall have the right to conduct such sales on any Credit
Party’s premises or elsewhere and shall have the right to use any Credit Party’s premises without rent or other charge for such sales or other action with respect to the Collateral for such time as Lender deems necessary or advisable.

  
 (c) Upon the occurrence of an Event of Default and at
Lender’s request, each Borrower and each other Credit Party executing this Agreement agrees, to assemble the Collateral and make it available to Lender at places that Lender shall reasonably select, whether at its premises or elsewhere. Until
Lender is able to effect a sale, lease, or other disposition of the Collateral, Lender shall have the right to complete, assemble, use or operate the Collateral or any part thereof, to the extent that Lender deems appropriate, for the purpose of
preserving such Collateral or its value or for any other purpose. Lender shall have no obligation to any Credit Party to maintain or 

  

 13 

 
preserve the rights of any Credit Party as against third parties with respect to any Collateral while such Collateral is in the possession of Lender. Lender
may, if it so elects, seek the appointment of a receiver or keeper to take possession of any Collateral and to enforce any of Lender’s remedies with respect thereto without prior notice or hearing. To the maximum extent permitted by applicable
law, each Borrower and each other Credit Party executing this Agreement waives all claims, damages, and demands against Lender, its Affiliates, agents, and the officers and employees of any of them arising out of the repossession, retention or sale
of any Collateral except such as are determined in a final judgment by a court of competent jurisdiction to have arisen solely out of the gross negligence or willful misconduct of such Person. Each Borrower and each other Credit Party executing this
Agreement agrees that 10 days’ prior notice by Lender to such Credit Party of the time and place of any public sale or of the time after which a private sale may take place is reasonable notification of such matters. Each Borrower and each
other Credit Party shall remain liable for any deficiency if the proceeds of any sale or disposition of the Collateral are insufficient to pay all amounts to which Lender is entitled. 
  
 (d) Lender’s rights and remedies under this Agreement shall be cumulative and nonexclusive of any other rights and
remedies that Lender may have under any Loan Document or at law or in equity. Recourse to the Collateral shall not be required. All provisions of this Agreement are intended to be subject to all applicable mandatory provisions of law that may be
controlling and to be limited, to the extent necessary, so that they do not render this Agreement invalid or unenforceable, in whole or in part. 
  
 7.3 Waivers by Credit Parties. Except as otherwise provided for in this Agreement and to the fullest extent permitted by applicable law, each Borrower and each
other Credit Party executing this Agreement waives: (a) presentment, demand and protest, and notice of presentment, dishonor, intent to accelerate, acceleration, protest, default, nonpayment, maturity, release, compromise, settlement, extension or
renewal of any or all Loan Documents, the Term Note or any other notes, commercial paper, Accounts, Contracts, Documents, Instruments, Chattel Paper and guaranties at any time held by Lender on which such Credit Party may in any way be liable, and
hereby ratifies and confirms whatever Lender may do in this regard; (b) all rights to notice and a hearing prior to Lender’s taking possession or control of, or to Lender’s replevy, attachment or levy upon, any Collateral or any bond or
security that might be required by any court prior to allowing Lender to exercise any of its remedies; and (c) the benefit of all valuation, appraisal and exemption laws. Each Borrower and each other Credit Party executing this Agreement
acknowledges that it has been advised by counsel of its choices and decisions with respect to this Agreement, the other Loan Documents and the transactions evidenced hereby and thereby. 
  
 7.4 Proceeds. The Proceeds of any sale, disposition or other realization upon any Collateral shall be applied by Lender upon receipt
to the Obligations in such order as Lender may deem advisable in its sole discretion, and after the indefeasible payment and satisfaction in full in cash of all of the Obligations, and after the payment by Lender of any other amount required by any
provision of law, including Sections 9-608(a)(1) and 9-615(a)(3) of the Code (but only after Lender has received what Lender considers reasonable proof of a subordinate party’s security interest), the surplus, if any, shall be paid to Borrowers
or their representatives or to whomsoever may be lawfully entitled to receive the same, or as a court of competent jurisdiction may direct. 
  

	8.	SUCCESSORS AND ASSIGNS 

  
 Each Loan Document shall be binding on and shall inure to the benefit of each Borrower and each other Credit Party executing such Loan Document, Lender, and their respective successors and assigns, except as otherwise
provided herein or therein. None of (a) the Borrowers or (b) any other Credit Party may assign, transfer, hypothecate, delegate or otherwise convey its rights, benefits, obligations or duties under any Loan Document without the prior express written
consent of Lender. Any such purported conveyance by such Borrower or such Credit Party without the prior express written consent of Lender shall be void. There shall be no third party beneficiaries of any of the terms and provisions of any of the
Loan Documents. Lender reserves the right at any time to create and sell participations in the Loan and the Loan Documents and to sell, transfer or assign any or all of its rights in the Loan and under the Loan Documents. 
  

	9.	MISCELLANEOUS 

  
 9.1 Complete Agreement; Modification of Agreement. This Agreement and the other Loan Documents constitute the complete agreement between the parties with respect to the subject matter hereof and thereof,
supersede all prior agreements, commitments, understandings or inducements (oral or written, expressed or implied). No Loan Document may be modified, altered or amended except by a written agreement signed by Lender, and each other Credit Party a
party to such Loan Document. Each Borrower and each other Credit Party executing this Agreement or any other Loan Document shall have all duties and obligations under this Agreement and such other Loan Documents from the date of its execution and
delivery, regardless of whether the initial Loan has been funded at that time. 
  
 9.2 Expenses. Each Borrower agrees to pay or reimburse Lender for all costs and expenses (including the fees and expenses of all counsel, advisors, consultants (including environmental and management consultants) and auditors
retained in connection therewith), incurred in connection with: (a) the preparation, negotiation, execution, delivery, performance and enforcement of the Loan 

  

 14 

 
Documents and the preservation of any rights thereunder; (b) collection including deficiency collections; (c) the forwarding to any Borrower or any other
Person on behalf of any Borrower by Lender of the proceeds of the Loan (including a wire transfer fee of $25 per wire transfer); (d) any amendment, waiver or other modification or waiver of, or consent with respect to any Loan Document or advice in
connection with the administration of the Loan or the rights thereunder; (e) any litigation, dispute, suit, proceeding or action (whether instituted by or between any combination of Lender, any Borrower or any other Person), and an appeal or review
thereof, in any way relating to the Collateral, any Loan Document, or any action taken or any other agreements to be executed or delivered in connection therewith, whether as a party, witness or otherwise; and (f) any effort (i) to monitor the Loan,
(ii) to evaluate, observe or assess any Borrower or any other Credit Party or the affairs of such Person, and (iii) to verify, protect, evaluate, assess, appraise, collect, sell, liquidate or otherwise dispose of the Collateral. 
  
 9.3 No Waiver. Neither Lender’s failure, at any time, to require strict
performance by any Borrower or any other Credit Party of any provision of any Loan Document, nor Lender’s failure to exercise, nor any delay in exercising, any right, power or privilege hereunder, shall operate as a waiver thereof or waive,
affect or diminish any right of Lender thereafter to demand strict compliance and performance therewith. No single or partial exercise of any right, power or privilege hereunder shall preclude any other or future exercise thereof or the exercise of
any other right, power or privilege. Any suspension or waiver of a Default or other provision under the Loan Documents shall not suspend, waive or affect any other Default or other provision under any Loan Document, and shall not be construed as a
bar to any right or remedy that Lender would otherwise have had on any future occasion. None of the undertakings, indemnities, agreements, warranties, covenants and representations of any Borrower or any other Credit Party to Lender contained in any
Loan Document and no Default by any Borrower or any other Credit Party under any Loan Document shall be deemed to have been suspended or waived by Lender, unless such waiver or suspension is by an instrument in writing signed by an officer or other
authorized employee of Lender and directed to such Borrower specifying such suspension or waiver (and then such waiver shall be effective only to the extent therein expressly set forth), and Lender shall not, by any act (other than execution of a
formal written waiver), delay, omission or otherwise, be deemed to have waived any of its rights or remedies hereunder. 
  
 9.4 Severability; Section Titles. Wherever possible, each provision of the Loan Documents shall be interpreted in such manner as to be effective and valid under
applicable law, but if any provision of any Loan Document shall be prohibited by or invalid under applicable law, such provision shall be ineffective to the extent of such prohibition or invalidity, without invalidating the remainder of such
provision or the remaining provisions of such Loan Document. Except as otherwise expressly provided for in the Loan Documents, no termination or cancellation (regardless of cause or procedure) of any financing arrangement under the Loan Documents
shall in any way affect or impair the Obligations, duties, covenants, representations and warranties, indemnities, and liabilities of any Borrower or any other Credit Party or the rights of Lender relating to any unpaid Obligation, (due or not due,
liquidated, contingent or unliquidated), or any transaction or event occurring prior to such termination, or any transaction or event, the performance of which is not required until after the Commitment Termination Date, all of which shall not
terminate or expire, but rather shall survive such termination or cancellation and shall continue in full force and effect until the Termination Date; provided, that all indemnity obligations of the Credit Parties under the Loan Documents shall
survive the Termination Date. The Section titles contained in any Loan Document are and shall be without substantive meaning or content of any kind whatsoever and are not a part of the agreement between the parties thereto. 
  
 9.5 Authorized Signature. Until Lender shall be notified in writing by Borrowers or
any other Credit Party to the contrary, the signature upon any document or instrument delivered pursuant hereto and believed by Lender or any of Lender’s officers, agents, or employees to be that of an officer of the applicable Borrower or such
other Credit Party shall bind such Borrower and such other Credit Party and be deemed to be the act of such Borrower or such other Credit Party affixed pursuant to and in accordance with resolutions duly adopted by such Borrower’s or such other
Credit Party’s board of directors or other governing body, as applicable, and Lender shall be entitled to assume the authority of each signature and authority of the person whose signature it is or appears to be unless the person acting in
reliance thereon shall have actual knowledge to the contrary. 
  
 9.6
Notices. Except as otherwise provided herein, whenever any notice, demand, request or other communication shall or may be given to or served upon any party by any other party, or whenever any party desires to give or serve upon any other
party any communication with respect to this Agreement, each such communication shall be in writing and shall be deemed to have been validly served, given or delivered (a) upon the earlier of actual receipt and three days after deposit in the United
States Mail, registered or certified mail, return receipt requested, with proper postage prepaid, (b) upon transmission, when sent by telecopy or other similar facsimile transmission (with such telecopy or facsimile promptly confirmed by delivery of
a copy by personal delivery or United States Mail as otherwise provided in this Section 9.6), (c) one Business Day after deposit with a reputable overnight courier with all charges prepaid or (d) when hand-delivered, all of which shall be addressed
to the party to be notified and sent to the address or facsimile number indicated in Schedule B or to such other address (or facsimile number) as may be substituted by notice given as herein provided. Failure or delay in delivering copies of
any such communication to any Person (other than any Borrower or Lender) designated in Schedule B to receive copies shall in no way adversely affect the effectiveness of such notice, demand, request or other communication. 
  

 15 

 9.7 Counterparts. Any Loan Document may be authenticated in any number of separate counterparts by any one or more
of the parties thereto, and all of said counterparts taken together shall constitute one and the same instrument, provided that, with respect to this Agreement, only the original marked “ORIGINAL: 1 OF 2” on the execution page
thereof shall constitute chattel paper under the UCC. Any Loan Document may be authenticated by manual signature, facsimile or, if approved in writing by Lender, electronic means, all of which shall be equally valid. 
  
 9.8 Time of the Essence. Time is of the essence for performance of the Obligations
under the Loan Documents. 
  
 9.9 GOVERNING LAW. THE LOAN DOCUMENTS AND THE
OBLIGATIONS ARISING UNDER THE LOAN DOCUMENTS SHALL BE GOVERNED BY, AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO CONTRACTS MADE AND PERFORMED IN SUCH STATE, WITHOUT REGARD TO THE PRINCIPLES THEREOF
REGARDING CONFLICTS OF LAWS. 
  
 9.10 SUBMISSION TO JURISDICTION; WAIVER OF
JURY TRIAL. (A) EACH BORROWER AND EACH OTHER CREDIT PARTY EXECUTING THIS AGREEMENT HEREBY CONSENT AND AGREE THAT THE STATE OR FEDERAL COURTS LOCATED IN NEW YORK SHALL HAVE EXCLUSIVE JURISDICTION TO HEAR AND DETERMINE ANY CLAIMS OR DISPUTES
BETWEEN SUCH BORROWER AND SUCH CREDIT PARTY AND LENDER PERTAINING TO THIS AGREEMENT OR ANY OF THE OTHER LOAN DOCUMENTS OR TO ANY MATTER ARISING OUT OF OR RELATED TO THIS AGREEMENT OR ANY OF THE OTHER LOAN DOCUMENTS; PROVIDED, THAT LENDER, SUCH
BORROWER AND SUCH CREDIT PARTY ACKNOWLEDGE THAT ANY APPEALS FROM THOSE COURTS MAY HAVE TO BE HEARD BY A COURT LOCATED OUTSIDE OF NEW YORK; AND FURTHER PROVIDED, THAT NOTHING IN THIS AGREEMENT SHALL BE DEEMED OR OPERATE TO PRECLUDE LENDER FROM
BRINGING SUIT OR TAKING OTHER LEGAL ACTION IN ANY OTHER JURISDICTION TO COLLECT THE OBLIGATIONS, TO REALIZE ON THE COLLATERAL OR ANY OTHER SECURITY FOR THE OBLIGATIONS, OR TO ENFORCE A JUDGMENT OR OTHER COURT ORDER IN FAVOR OF LENDER. EACH BORROWER
AND EACH OTHER CREDIT PARTY EXECUTING THIS AGREEMENT EXPRESSLY SUBMIT AND CONSENT IN ADVANCE TO SUCH JURISDICTION IN ANY ACTION OR SUIT COMMENCED IN ANY SUCH COURT, AND SUCH BORROWER AND SUCH CREDIT PARTY HEREBY WAIVE ANY OBJECTION THAT IT MAY HAVE
BASED UPON LACK OF PERSONAL JURISDICTION, IMPROPER VENUE OR FORUM NON CONVENIENS. EACH BORROWER AND EACH OTHER CREDIT PARTY EXECUTING THIS AGREEMENT HEREBY WAIVE PERSONAL SERVICE OF THE SUMMONS, COMPLAINT AND OTHER PROCESS ISSUED IN ANY SUCH ACTION
OR SUIT AND AGREE THAT SERVICE OF SUCH SUMMONS, COMPLAINT AND OTHER PROCESS MAY BE MADE BY REGISTERED OR CERTIFIED MAIL ADDRESSED TO SUCH BORROWER OR SUCH CREDIT PARTY AT THE ADDRESS SET FORTH IN SCHEDULE B OF THIS AGREEMENT AND THAT SERVICE
SO MADE SHALL BE DEEMED COMPLETED UPON THE EARLIER OF SUCH BORROWER’S OR SUCH CREDIT PARTY’S ACTUAL RECEIPT THEREOF OR THREE DAYS AFTER DEPOSIT IN THE U.S. MAILS, PROPER POSTAGE PREPAID. 
  
 (B) THE PARTIES HERETO WAIVE ALL RIGHTS TO TRIAL BY JURY IN ANY ACTION, SUIT,
OR PROCEEDING BROUGHT TO RESOLVE ANY DISPUTE, WHETHER ARISING IN CONTRACT, TORT, OR OTHERWISE BETWEEN LENDER, ANY BORROWER AND ANY CREDIT PARTY ARISING OUT OF, CONNECTED WITH, RELATED OR INCIDENTAL TO THE RELATIONSHIP ESTABLISHED BETWEEN THEM IN
CONNECTION WITH THE LOAN DOCUMENTS OR THE TRANSACTIONS RELATED THERETO. 
  
 9.11
Press Releases. Neither any Credit Party nor any of its Affiliates will in the future issue any press release or other public disclosure using the name of General Electric Capital Corporation or its affiliates or referring to this Agreement
or the other Loan Documents without at least two Business Days’ prior notice to Lender and without the prior written consent of Lender unless (and only to the extent that) such Credit Party or Affiliate is required to do so under law and then,
in any event, such Credit Party or Affiliate will consult with Lender before issuing such press release or other public disclosure. 
  
 9.12 Reinstatement. This Agreement shall continue to be effective, or be reinstated, as the case may be, if at any time payment of all or any part of the
Obligations is rescinded or must otherwise be returned or restored by Lender upon the insolvency, bankruptcy, dissolution, liquidation or reorganization of any Borrower or any other Credit Party, or otherwise, all as though such payments had not
been made. 
  

 16 

 IN WITNESS WHEREOF, this Loan and Security Agreement has been duly executed as of the date first written above.

  

			
	BRONCO DRILLING COMPANY, L.L.C.
		
	 By
	 	 /s/ PAUL JACOBI

	 Name 
	 	 Paul Jacobi

	 Title
	 	 Vice President

	
	ELK HILL DRILLING, INC.
		
	 By
	 	 /s/ PAUL JACOBI

	 Name 
	 	 Paul Jacobi

	 Title
	 	 Vice President

	
	WRANGLER EQUIPMENT LLC
		
	 By
	 	 /s/ PAUL JACOBI

	 Name 
	 	 Paul Jacobi

	 Title
	 	 Vice President

	
	GENERAL ELECTRIC CAPITAL CORPORATION
		
	 By
	 	 /s/ JOSEPH B. WILLIAMS

	 Name 
	 	 Joseph B. Williams

	 Title
	 	 Senior Risk Manager

  
 ORIGINAL:
     OF 2 
  

 SCHEDULE A - DEFINITIONS 
  
 Capitalized terms used in this Agreement and the other Loan Documents shall have (unless otherwise provided elsewhere in this Agreement or
in the other Loan Documents) the following respective meanings: 
  
 “Account
Debtor” means any Person who is or may become obligated with respect to, or on account of, an Account, Chattel Paper or General Intangible (including a Payment Intangible). 
  
 “Accounts” means all “accounts,” as such term is defined in the Code, now owned or hereafter acquired by any Person,
including: (i) all Accounts Receivable, other receivables, book debts and other forms of obligations (other than forms of obligations evidenced by Chattel Paper or Instruments) (including any such obligations which may be characterized as an account
or contract right under the Code); (ii) all of such Person’s rights in, to and under all purchase orders or receipts for goods or services; (iii) all of such Person’s rights to any goods represented by any of the foregoing (including
unpaid sellers’ rights of rescission, replevin, reclamation and stoppage in transit and rights to returned, reclaimed or repossessed goods); (iv) all rights to payment due to such Person for Goods or other property sold, leased, licensed,
assigned or otherwise disposed of, for a policy of insurance issued or to be issued, for a secondary obligation incurred or to be incurred or to be incurred, for energy provided or to be provided, for the use or hire of a vessel under a charter or
other contract, arising out of the use of a credit card or charge card, or for services rendered or to be rendered by such Person or in connection with any other transaction (whether or not yet earned by performance on the part of such Person), and
(v) all health care insurance receivables; and (vi) all collateral security of any kind given by any Account Debtor or any other Person with respect to any of the foregoing. 
  
 “Accounts Receivable” means accounts receivable arising from (i) property that has been or is to be sold, leased, licensed,
assigned or otherwise disposed of in the ordinary course of business and (ii) services rendered or to be rendered, including all replacements, substitutions, records and proceeds relating thereto. 
  
 “Adjusted Rate” has the meaning ascribed to such term in Section 1.12. 

 
 “Affected Property” has the meaning ascribed to such term in Section 1.2(f).

  
 “Affected Property Amount” means an amount equal to the greater of
(a) the Net Proceeds with respect to the Affected Property and (b) the sum of (i) the product of (A) the then outstanding principal amount of the Loan and (B) a percentage equal to the original cost of the Affected Property divided by the original
cost of all of the tangible Collateral, (ii) accrued and unpaid interest on the amount in (b)(i) and (iii) all other amounts owed under the Loan Documents. 
  
 “Affiliate” means, with respect to any Person: (i) each other Person that, directly or indirectly, owns or controls, whether beneficially, or as a trustee,
guardian or other fiduciary, five percent (5%) or more of the Stock having ordinary voting power for the election of directors of such Person; (ii) each other Person that controls, is controlled by or is under common control with such Person or any
Affiliate of such Person; or (iii) each of such Person’s officers, directors, joint venturers and partners. For the purpose of this definition, “control” of a Person shall mean the possession, directly or indirectly, of the power to
direct or cause the direction of its management or policies, whether through the ownership of voting securities, by contract or otherwise. 
  
 “Agreement” means this Agreement including all appendices, exhibits or schedules attached or otherwise identified thereto, restatements and modifications and
supplements thereto, and any appendices, exhibits or schedules to any of the foregoing, each as effect at the time such reference becomes operative; provided, that except as specifically set forth in this Agreement, any reference to the Disclosure
Schedules to this Agreement shall be deemed a reference to the Disclosure Schedules as in effect on the Closing Date or in a written amendment thereto executed by Borrowers and Lender. 
  
 “Books and Records” means all books, records, board minutes, contracts, licenses, insurance policies, environmental audits,
business plans, files, computer files, computer discs and other data and software storage and media devices, accounting books and records, financial statements (actual and pro forma), filings with Governmental Authorities and any and all records and
instruments relating to the Collateral or the applicable Borrower’s business. 
  
 “Borrower” or “Borrowers” means each of the Persons identified as such in the preamble of this Agreement, as applicable. 
  
 “Business Day” means any day that is not a Saturday, a Sunday or a day on which banks are required or permitted to be closed in the State of New York.

  
 “Capital Expenditures” means all payments or accruals (including
Capital Lease Obligations) for any fixed assets or improvements or for replacements, substitutions or additions thereto, that have a useful life of more than one year and that are required to be capitalized under GAAP. 
  

 “Capital Lease” means, with respect to any Person, any lease of any property (whether real, personal or mixed)
by such Person as lessee that, in accordance with GAAP, either would be required to be classified and accounted for as a capital lease on a balance sheet of such Person or otherwise would be disclosed as such in a note to such balance sheet, other
than, in the case of any Borrower, any such lease under which such Borrower is the lessor. 
  
 “Capital Lease Obligation” means, with respect to any Capital Lease, the amount of the obligation of the lessee thereunder that, in accordance with GAAP, would appear on a balance sheet of such lessee in
respect of such Capital Lease or otherwise be disclosed in a note to such balance sheet. 
  
 “CERCLA” means Comprehensive Environmental Response, Compensation and Liability Act, as amended by the Superfund Amendments and Reauthorization Act of 1986, as now or hereafter amended (42 U.S.C. Section
9601 et seq.). 
  
 “Change of Control” means, with respect to any Person
on or after the Closing Date, that any change in the composition of such Person’s stockholders as of the Closing Date shall occur which would result in any stockholder or group acquiring 49.9% or more of any class of Stock of such Person, or
that any Person (or group of Persons acting in concert) shall otherwise acquire, directly or indirectly (including through Affiliates), the power to elect a majority of the board of directors of such Person or otherwise direct the management or
affairs of such Person by obtaining proxies, entering into voting agreements or trusts, acquiring securities or otherwise. 
  
 “Charges” means all Federal, state, county, city, municipal, local, foreign or other governmental taxes (including taxes owed to PBGC at the time due and
payable), levies, customs or other duties, assessments, charges, liens, and all additional charges, interest, penalties, expenses, claims or encumbrances upon or relating to (i) the Collateral, (ii) the Obligations, (iii) the employees, payroll,
income or gross receipts of any Credit Party, (iv) the ownership or use of any assets by any Credit Party, or (v) any other aspect of any Credit Party’s business. 
  
 “Chattel Paper” means all “chattel paper,” as such term is defined in the Code, including electronic chattel paper, now
owned or hereafter acquired by any Person. 
  
 “Closing Date” means the
date that the proceeds of the initial Term Loan Advance are disbursed to, or on behalf of, Borrowers, which date shall be the date of the Term Note. 
  
 “Closing Fee” has the meaning assigned to it in Schedule C. 
  
 “Closing Letter” means the Post-Closing Letter Agreement dated as of the Closing Date among Borrowers and Lender. 
  
 “Code” means the Uniform Commercial Code as the same may, from time to time, be in
effect in the State of New York; provided, that in the event that, by reason of mandatory provisions of law, any or all of the attachment, perfection or priority of, or remedies with respect to, Lender’s Lien on any Collateral is governed by
the Uniform Commercial Code as in effect in a jurisdiction other than the State of New York, the term “Code” shall mean the Uniform Commercial Code as in effect in such other jurisdiction for purposes of the provisions of this Agreement
relating to such attachment, perfection, priority or remedies and for purposes of definitions related to such provisions; provided further, that to the extent that the Code is used to define any term herein or in any Loan Document and such term is
defined differently in different Articles or Divisions of the Code, the definition of such term contained in Article or Division 9 shall govern. 
  
 “Collateral” has the meaning assigned to it in Section 6.1. 
  
 “Collection Account” means that certain account of Lender, account number 502-02-962 in the name of GE CEF Main Depository Account, with Deutsch Trust Company
Americas, 60 Wall Street, New York, NY, ABA number 021-001-033. 
  
 “Commitment Termination Date” means the earliest of (i) the Stated Expiry Date, (ii) the date Lender’s obligation to advance funds is terminated pursuant to Section 7.2, and (iii) the date of indefeasible prepayment in full
by Borrowers of the Obligations in accordance with the provisions of Section 1.2(c). 
  
 “Contracts” means all the contracts, undertakings, or agreements (other than rights evidenced by Chattel Paper, Documents or Instruments) in or under which any Person may now or hereafter have any right, title or interest,
including any agreement relating to the terms of payment or the terms of performance of any Account. 
  
 “Contractual Obligation” means as to any Person, any provision of any security issued by such Person or of any agreement, instrument, or other undertaking to which such Person is a party or by which it or
any of its property is bound. 
  

 2 

 “Copyright License” means rights under any written agreement now owned or hereafter acquired by any Person
granting the right to use any Copyright or Copyright registration. 
  
 “Copyrights” shall mean all of the following now owned or hereafter adopted or acquired by any Person: (i) all copyrights in any original work of authorship fixed in any tangible medium of expression, now known or later developed,
all registrations and applications for registration of any such copyrights in the United States or any other country, including registrations, recordings and applications, and supplemental registrations, recordings, and applications in the United
States Copyright Office; and (ii) all Proceeds of the foregoing, including license royalties and proceeds of infringement suits, the right to sue for past, present and future infringements, all rights corresponding thereto throughout the world and
all renewals and extensions thereof. 
  
 “Corporate Credit Party” means
any Credit Party that is a corporation, partnership or limited liability company. 
  
 “Credit Party” means each Borrower and each other Person (other than Lender) that is or may become a party to this Agreement or any other Loan Document. 
  
 “Default” means any Event of Default or any event that, with the passage of time or notice or both, would, unless cured or waived,
become an Event of Default. 
  
 “Default Rate” has the meaning assigned
to it in Section 1.5(c). 
  
 “Deposit Accounts” means all “deposit
accounts” as such term is defined in the Code, now or hereafter held in the name of any Person. 
  
 “Documents” means all “documents,” as such term is defined in the Code, now owned or hereafter acquired by any Person, wherever located, including all bills of lading, dock warrants, dock receipts,
warehouse receipts, and other documents of title, whether negotiable or non-negotiable. 
  
 “EBITDA” means, for any period, the Net Income (Loss) of Bronco and its Subsidiaries on a consolidated basis for such period, plus interest expense, income tax expense, amortization expense, depreciation expense and extraordinary
losses and minus extraordinary gains, in each case, of Bronco and its Subsidiaries on a consolidated basis for such period determined in accordance with GAAP to the extent included in the determination of such Net Income (Loss). 
  
 “Environmental Laws” means all Federal, state and local laws, statutes, ordinances
and regulations, now or hereafter in effect, and in each case as amended or supplemented from time to time, and any applicable judicial or administrative interpretation thereof relating to the regulation and protection of human health, safety, the
environment and natural resources (including ambient air, surface water, groundwater, wetlands, land surface or subsurface strata, wildlife, aquatic species and vegetation). 
  
 “Environmental Liabilities” means all liabilities, obligations, responsibilities, remedial actions, removal costs, losses, damages
of whatever nature, costs and expenses (including all reasonable fees, disbursements and expenses of counsel, experts and consultants and costs of investigation and feasibility studies), fines, penalties, sanctions and interest incurred as a result
of any claim, suit, action or demand of whatever nature by any Person and which relate to any health or safety condition regulated under any Environmental Law, environmental permits or in connection with any Release, threatened Release, or the
presence of a Hazardous Material. 
  
 “Equipment” means all
“equipment” as such term is defined in the Code, now owned or hereafter acquired by any Person, wherever located, including (without limitation) any and all machinery, apparatus, equipment, fittings, furniture, fixtures, motor vehicles and
other tangible personal property (other than Inventory) of every kind and description that may be now or hereafter used in such Person’s operations or which are owned by such Person or in which such Person may have an interest, and all parts,
accessories and accessions thereto and substitutions and replacements therefor. 
  
 “ERISA” means the Employee Retirement Income Security Act of 1974 (or any successor legislation thereto), as amended from time to time, and any regulations promulgated thereunder. 
  
 “ERISA Affiliate” means any trade or business (whether or not incorporated) that,
together with any Credit Party, is treated as a single employer under Section 414(b), (c), (m) or (o) of the IRC, or, solely for the purposes of Section 302 of ERISA and Section 412 of the IRC, is treated as a single employer under Section 414 of
the IRC. 
  
 “ERISA Event” shall mean (a) any “reportable
event”, as defined in Section 4043 of ERISA or the regulations issued thereunder with respect to a Plan (other than an event for which the 30-day notice period is waived); (b) the existence with respect to any Plan of an “accumulated
funding deficiency” (as defined in Section 412 of the IRC or Section 302 of ERISA), whether or not waived; (c) the filing pursuant to Section 412(b) of the IRC or Section 303(d) of ERISA of an application for a waiver of the minimum funding

  

 3 

 
standard with respect to any Plan; (d) the incurrence by any Credit Party or any ERISA Affiliate of any liability under Title IV of ERISA with respect to the
termination of any Plan; (e) the receipt by any Credit Party or any ERISA Affiliate from the PBGC or a plan administrator of any notice relating to an intention to terminate any Plan or to appoint a trustee to administer any Plan; (f) the incurrence
by any Credit Party or any ERISA Affiliate of any liability with respect to any withdrawal or partial withdrawal from any Plan or Multiemployer Plan; or (g) the receipt by any Credit Party or any ERISA Affiliate of any notice, or the receipt by any
Multiemployer Plan from any Credit Party or any ERISA Affiliate of any notice, concerning the imposition of Withdrawal Liability or a determination that a Multiemployer Plan is, or is expected to be, insolvent or in reorganization, within the
meaning of Title IV of ERISA. 
  
 “Event of Default” has the meaning
assigned to it in Section 7.1. 
  
 “Fees” means the fees due to Lender
as set forth in Schedule C. 
  
 “Financial Statements” means the
consolidated and consolidating income statement, balance sheet and statement of cash flows of the applicable Borrower and its Subsidiaries, internally prepared for each Fiscal Quarter, and audited for each Fiscal Year, prepared in accordance with
GAAP. 
  
 “Fiscal Quarter” means any of the quarterly accounting periods
of the applicable Borrower. 
  
 “Fiscal Year” means the 12-month period
of the applicable Borrower ending December 31 of each year. Subsequent changes of the fiscal year of such Borrower shall not change the term “Fiscal Year” unless Lender shall consent in writing to such change. 
  
 “Fixtures” means all “fixtures” as such term is defined in the Code, now
owned or hereafter acquired by any Person. 
  
 “Funding Date” means,
with respect to each Term Loan Advance after the initial Term Loan Advance, the date that the proceeds of such additional Term Loan Advance are disbursed to, or on behalf of, Borrowers. 
  
 “Funding Period” means the period commencing on the Closing Date and ending on the Commitment Termination Date. 
  
 “GAAP” means generally accepted accounting principles in the United States of
America as in effect from time to time, consistently applied. 
  
 “General
Intangibles” means all “general intangibles,” as such term is defined in the Code, now owned or hereafter acquired by any Person, including all right, title and interest that such Person may now or hereafter have in or under any
Contract, all Payment Intangibles, customer lists, Licenses, Intellectual Property, interests in partnerships, joint ventures and other business associations, permits, proprietary or confidential information, inventions (whether or not patented or
patentable), technical information, procedures, designs, knowledge, know-how, Software, data bases, data, skill, expertise, experience, processes, models, drawings, materials, Books and Records, Goodwill (including the Goodwill associated with any
Intellectual Property), all rights and claims in or under insurance policies (including insurance for fire, damage, loss, and casualty, whether covering personal property, real property, tangible rights or intangible rights, all liability, life,
key-person, and business interruption insurance, and all unearned premiums), uncertificated securities, choses in action, deposit accounts, rights to receive tax refunds and other payments, rights to receive dividends, distributions, cash,
Instruments and other property in respect of or in exchange for pledged Stock and Investment Property, and rights of indemnification. 
  
 “Goods” means all “goods,” as such term is defined in the Code, now owned or hereafter acquired by any Person, wherever located, including embedded
software to the extent included in “goods” as defined in the Code, manufactured homes, standing timber that is cut and removed for sale and unborn young of animals. 
  
 “Goodwill” means all goodwill, trade secrets, proprietary or confidential information, technical information, procedures,
formulae, quality control standards, designs, operating and training manuals, customer lists, and distribution agreements now owned or hereafter acquired by any Person. 
  
 “Governmental Authority” means any nation or government, any state or other political subdivision thereof, and any agency,
department or other entity exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government. 
  
 “Guaranteed Indebtedness” means, as to any Person, any obligation of such Person guaranteeing any indebtedness, lease, dividend, or other obligation
(“primary obligations”) of any other Person (the “primary obligor”) in any manner, including any obligation or arrangement of such guaranteeing Person (whether or not contingent): (i) to purchase or repurchase any such primary
obligation; (ii) to advance or supply funds (A) for the purchase or payment of any such primary obligation or (B) to maintain working capital or equity capital of the primary obligor or otherwise to maintain the net worth or solvency or any balance
sheet condition of the primary obligor; (iii) to purchase property, 

  

 4 

 
securities or services primarily for the purpose of assuring the owner of any such primary obligation of the ability of the primary obligor to make payment
of such primary obligation; or (iv) to indemnify the owner of such primary obligation against loss in respect thereof. 
  
 “Guarantor” means each Person that executes a Guaranty or a support, put or other similar agreement in favor of Lender in connection with the transactions
contemplated by this Agreement. 
  
 “Guaranty” means any agreement to
perform all or any portion of the Obligations on behalf of any Borrower or any other Credit Party, in favor of, and in form and substance satisfactory to, Lender, together with all amendments, modifications and supplements thereto, and shall refer
to such Guaranty as the same may be in effect at the time such reference becomes operative. 
  
 “Hazardous Material” means any substance, material or waste that is regulated by or forms the basis of liability now or hereafter under, any Environmental Laws, including any material or substance that is
(a) defined as a “solid waste,” “hazardous waste,” “hazardous material,” “hazardous substance,” “extremely hazardous waste,” “restricted hazardous waste,” “pollutant,”
“contaminant,” “hazardous constituent,” “special waste,” “toxic substance” or other similar term or phrase under any Environmental Laws, (b) petroleum or any fraction or by-product thereof, asbestos,
polychlorinated biphenyls (PCB’s), or any radioactive substance. 
  
 “Hazardous Waste” has the meaning ascribed to such term in the Resource Conservation and Recovery Act (42 U.S.C. §§ 6901 et. seq.). 
  

“Indebtedness” of any Person means: (i) all indebtedness of such Person for borrowed money or for the deferred purchase price of property or services
(including reimbursement and all other obligations with respect to surety bonds, letters of credit and bankers’ acceptances, whether or not matured, but not including obligations to trade creditors incurred in the ordinary course of business
and not more than forty-five (45 days past due); (ii) all obligations evidenced by notes, bonds, debentures or similar instruments; (iii) all indebtedness created or arising under any conditional sale or other title retention agreements with respect
to property acquired by such Person (even though the rights and remedies of the seller or lender under such agreement in the event of default are limited to repossession or sale of such property); (iv) all Capital Lease Obligations; (v) all
Guaranteed Indebtedness; (vi) all Indebtedness referred to in clauses (i), (ii), (iii), (iv) or (v) above secured by (or for which the holder of such Indebtedness has an existing right, contingent or otherwise, to be secured by) any Lien upon or in
property (including accounts and contract rights) owned by such Person, even though such Person has not assumed or become liable for the payment of such Indebtedness; (vii) the Obligations; and (viii) all liabilities under Title IV of ERISA.

  
 “Indemnified Liabilities” and “Indemnified Person” have
the respective meanings assigned to them in Section 1.11. 
  
 “Instruments” means all “instruments,” as such term is defined in the Code, now owned or hereafter acquired by any Person, wherever located, including all certificated securities and all promissory notes and other
evidences of indebtedness, other than instruments that constitute, or are a part of a group of writings that constitute, Chattel Paper. 
  
 “Intellectual Property” means any and all Licenses, Patents, Copyrights, Trademarks, trade secrets and customer lists. 
  
 “Interest Period” means, with respect to the Loan, initially, the period beginning
on the Closing Date of the Loan and ending on the next Payment Date, and thereafter each period of one calendar month beginning on the Payment Date on which the next preceding Interest Period expires and ending on the immediately succeeding Payment
Date. 
  
 “Inventory” means all “inventory,” as such term is
defined in the Code, now owned or hereafter acquired by any Person, wherever located, including all inventory, merchandise, goods and other personal property that are held by or on behalf of such Person for sale or lease or are furnished or are to
be furnished under a contract of service or that constitute raw materials, work in process, finished goods, returned goods or materials or supplies of any kind, nature or description used or consumed or to be used or consumed in such Person’s
business or in the processing, production, packaging, promotion, delivery or shipping of the same, including all supplies and embedded software. 
  
 “Investment Property” means all “investment property,” as such term is defined in the Code, now owned or hereafter acquired by any Person, wherever
located. 
  
 “IRC” and “IRS” mean respectively, the Internal
Revenue Code of 1986 and the Internal Revenue Service, and any successors thereto. 
  
 “Lender” means General Electric Capital Corporation and, if at any time Lender shall decide to assign or syndicate all or any of the Obligations, such term shall include such assignee or such other members of the syndicate.

  
 “Letter-of-Credit Rights” means “letter-of-credit rights”
as such term is defined in the Code, now owned or hereafter acquired by any Person, including rights to payment or performance under a letter of credit, whether or not such Person, as beneficiary, has demanded or is entitled to demand payment or
performance. 
  

 5 

 “LIBOR” means, with respect to the Loan and the applicable Interest Period, a rate of interest equal to (i) the
rate under the column indicating the 30-day Eurodollar Deposits (London) (“LIBOR”) as stated in the Federal Reserve Statistical Release H.15 (519) published on the third Business Day prior to the first day of the applicable Interest
Period, or if, for any reason whatsoever, the Federal Reserve Statistical Release H.15 (519) is no longer published, LIBOR shall be equal to the rate listed for LIBOR which is published in the Money Rates Column of the Wall Street Journal, Eastern
Edition (or, in the event such rate is not so published, in such other nationally recognized publication as Payee may specify) on the third Business Day prior to the first day of the applicable Interest Period divided by (ii) a number equal to 1.0
minus the aggregate (but without duplication) of the rates (expressed as a decimal fraction) of reserve requirements in effect on the day which is two business days prior to the beginning of each calendar month (including, without limitation, basic,
supplemental, marginal and emergency reserves under any regulations of the Board of Governors of the Federal Reserve System or other governmental authority having jurisdiction with respect thereto, as now and from time to time in effect) for
Eurocurrency funding (currently referred to as “Eurocurrency liabilities” in Regulation D of such Board) which are required to be maintained by a member bank of the Federal Reserve System. 
  
 “License” means any Copyright License, Patent License, Trademark License or other
license of rights or interests now held or hereafter acquired by any Person. 
  
 “Lien” means any mortgage, security deed or deed of trust, pledge, hypothecation, assignment, deposit arrangement, lien, charge, claim, security interest, security title, easement or encumbrance, or preference, priority or other
security agreement or preferential arrangement of any kind or nature whatsoever (including any lease or title retention agreement, any financing lease having substantially the same economic effect as any of the foregoing, and the filing of, or
agreement to give, any financing statement perfecting a security interest under the Code or comparable law of any jurisdiction). 
  
 “Litigation” means any claim, lawsuit, litigation, investigation or proceeding of or before any arbitrator or Governmental Authority. 
  
 “Loan” means at any time the loan in the aggregate principal amount of the Term
Loan Advances then outstanding. 
  
 “Loan Documents” means this
Agreement, the Term Note, the Financial Statements, each Guaranty, each Power of Attorney, the Pay Proceeds Letter, the Closing Letter and the other documents and instruments listed in Schedule D, and all security agreements, mortgages and all other
documents, instruments, certificates, and notices at any time delivered by any Person (other than Lender) in connection with any of the foregoing. 
  
 “Loan Rate” has the meaning assigned to it in Section 1.5, but subject to the terms hereof. 
  
 “Loan Year” means the period from January 1 of a given year to December 31 of such year, except that the first Loan Year shall be
from Closing Date to December 31, 2004. 
  
 “Loss Event” has the meaning
assigned to it in Section 1.2(f). 
  
 “Material Adverse Effect” means: a
material adverse effect on (a) the business, assets, operations, prospects or financial or other condition of Bronco and its Subsidiaries on a consolidated basis or any other Credit Party, (b) any Borrower’s or any other Credit Party’s
ability to pay or perform the Obligations under the Loan Documents to which such Credit Party is a party in accordance with the terms thereof, (c) the Collateral or Lender’s Liens on the Collateral or the priority of any such Lien, or (d)
Lender’s rights and remedies under this Agreement and the other Loan Documents. 
  
 “Maximum Amount” means $12,000,000. 
  
 “Minimum
Actionable Amount” means $200,000. 
  
 “Multiemployer Plan” means a
“multiemployer plan,” as defined in Section 4001(a)(3) of ERISA, to which any Borrower, any other Credit Party or any ERISA Affiliate is making, is obligated to make, has made or been obligated to make, contributions on behalf of
participants who are or were employed by any of them. 
  
 “Net Income
(Loss)” means with respect to any Person and for any period, the aggregate net income (or loss) after taxes of such Person for such period, determined in accordance with GAAP. 
  
 “Notice of Term Loan Credit Advance” has the meaning assigned to it in Section 1.1(b). 
  
 “Obligations” means all loans, advances, debts, expense reimbursement, fees,
liabilities, and obligations for the performance of covenants, tasks or duties or for payment of monetary amounts (whether or not such performance is then required or contingent, or amounts are 

  

 6 

 
liquidated or determinable) owing by any Borrower and any other Credit Party to Lender, of any kind or nature, present or future, whether or not evidenced by
any note, agreement or other instrument, whether arising under any of the Loan Documents or under any other agreement between such Borrower, such Credit Party and Lender, and all covenants and duties regarding such amounts. This term includes all
principal, interest (including interest accruing at the then applicable rate provided in this Agreement after the maturity of the Loan and interest accruing at the then applicable rate provided in this Agreement after the filing of any petition in
bankruptcy, or the commencement of any insolvency, reorganization or like proceeding, whether or not a claim for post-filing or post-petition interest is allowed in such proceeding), Fees, Charges, expenses, attorneys’ fees and any other sum
chargeable to any Borrower under any of the Loan Documents, and all principal and interest due in respect of the Loan and all obligations and liabilities of any Guarantor under any Guaranty. 
  
 “Patent License” means rights under any written agreement now owned or hereafter
acquired by any Person granting any right with respect to any invention on which a Patent is in existence. 
  
 “Patents” means all of the following in which any Person now holds or hereafter acquires any interest: (i) all letters patent of the United States or any other country, all registrations and recordings
thereof, and all applications for letters patent of the United States or any other country, including registrations, recordings and applications in the United States Patent and Trademark Office or in any similar office or agency of the United
States, any State or Territory thereof, or any other country; and (ii) all reissues, continuations, continuations-in-part or extensions thereof. 
  
 “Payment Date” means the first day of each calendar month, commencing with respect to each Term Loan Advance on the first day of the first month after the
Funding Date of such Term Loan Advance. 
  
 “Payment Intangibles” means
all “payment intangibles” as such term is defined in the Code, now owned or hereafter acquired by any Person. 
  
 “Pay Proceeds Letter” means the Pay Proceeds Letter dated the Closing Date executed by Borrowers with respect to the initial Term Loan Advance. 
  
 “PBGC” means the Pension Benefit Guaranty Corporation or any successor thereto.

  
 “Permitted Encumbrances” means the following encumbrances: (i) Liens
for taxes or assessments or other governmental Charges or levies, either not yet due and payable or to the extent that nonpayment thereof is permitted by the terms of Section 3.10; (ii) inchoate and unperfected workers’, mechanics’, or
similar liens arising in the ordinary course of business for sums not delinquent; (iii) carriers’, warehousemen’s, suppliers’ or other similar possessory liens arising in the ordinary course of business and securing indebtedness not
yet due and payable in an outstanding aggregate amount not in excess of $25,000 at any time so long as such Liens attach only to Inventory; (iv) Liens in existence on the Closing Date as disclosed on Disclosure Schedule 5(e) provided that no such
Lien is spread to cover additional property after the Closing Date, the amount of Indebtedness secured thereby is not increased, and any such Lien is subordinated pursuant to the terms of the Subordination Agreement; and (v) Liens in favor of Lender
securing the Obligations. 
  
 “Person” means any individual, sole
proprietorship, partnership, limited liability partnership, joint venture, trust, unincorporated organization, association, corporation, limited liability company, institution, public benefit corporation, entity or government (whether Federal,
state, county, city, municipal or otherwise, including any instrumentality, division, agency, body or department thereof), and shall include such Person’s successors and assigns. 
  
 “Plan” means any employee pension benefit plan (other than a Multiemployer Plan) subject to the provisions of Title IV of ERISA or
Section 412 of the IRC or Section 302 of ERISA, and in respect of which any Credit Party or any ERISA Affiliate is (or, if such plan were terminated, would under Section 4069 of ERISA be deemed to be) an “employer” as defined in Section
3(5) of ERISA. 
  
 “Power of Attorney” means the power of attorney
executed by the applicable Borrower in the substantially in the form of Exhibit E. 
  
 “Prepayment Fee” means the prepayment fee specified in Schedule C. 
  
 “Prime” means the annual prime rate of interest announced from time to time in The Wall Street Journal, Eastern Edition. 
  
 “Principal Payment Date” means the each Payment Date, commencing with respect to each Term Loan Advance on the first day of the first month that is at least one
full month after the Funding Date of such Term Loan Advance. 
  
 “Proceeds” means “proceeds,” as such term is defined in the Code and, in any event, shall include: (i) any and all proceeds of any insurance, indemnity, warranty or guaranty payable to any Borrower or any other Credit
Party from time to time with respect to any 

  

 7 

 
Collateral; (ii) any and all payments (in any form whatsoever) made or due and payable to any Borrower or any other Credit Party from time to time in
connection with any requisition, confiscation, condemnation, seizure or forfeiture of any Collateral by any governmental body, authority, bureau or agency (or any person acting under color of governmental authority); (iii) any claim of any Borrower
or any other Credit Party against third parties (A) for past, present or future infringement of any Intellectual Property or (B) for past, present or future infringement or dilution of any Trademark or Trademark License or for injury to the goodwill
associated with any Trademark, Trademark registration or Trademark licensed under any Trademark License; (iv) any recoveries by any Borrower or any other Credit Party against third parties with respect to any litigation or dispute concerning any
Collateral, including claims arising out of the loss or nonconformity of, interference with the use of, defects in, or infringement of rights in, or damage to, Collateral; (v) all amounts collected on, or distributed on account of, other Collateral,
including dividends, interest, distributions and Instruments with respect to Investment Property and pledged Stock; and (vi) any and all other amounts, rights to payment or other property acquired upon the sale, lease, license, exchange or other
disposition of Collateral and all rights arising out of Collateral. 
  
 “Projections” means as of any date the consolidated and consolidating balance sheet, statements of income and cash flow for the applicable Borrower and its Subsidiaries (including forecasted Capital Expenditures) (i) by month for
the next Fiscal Year, and (ii) by year for the following three Fiscal Years, in each case prepared in a manner consistent with GAAP and accompanied by senior management’s discussion and analysis of such plan. 
  
 “Purchase Money Indebtedness” means (i) any Indebtedness incurred for the payment
of all or any part of the purchase price of any fixed asset, (ii) any Indebtedness incurred for the sole purpose of financing or refinancing all or any part of the purchase price of any fixed asset, and (iii) any renewals, extensions or refinancings
thereof (but not any increases in the principal amounts thereof outstanding at that time). 
  
 “Purchase Money Lien” means any Lien upon any fixed assets which secures the Purchase Money Indebtedness related thereto but only if such Lien shall at all times be confined solely to the asset the purchase
price of which was financed or refinanced through the incurrence of the Purchase Money Indebtedness secured by such Lien and only if such Lien secures only such Purchase Money Indebtedness. 
  
 “Real Property” has the meaning assigned to it in Section 3.15. 
  
 “Release” means as to any Person, any release, spill, emission, leaking, pumping,
injection, deposit, disposal, discharge, dispersal, dumping, leaching or migration of Hazardous Materials in the indoor or outdoor environment by such Person, including the movement of Hazardous Materials through or in the air, soil, surface water,
ground water or property. 
  
 “Requirement of Law” means as to any
Person, the Certificate or Articles of Incorporation and By-Laws or other organizational or governing documents of such Person, and any law, treaty, rule or regulation or determination of an arbitrator or a court or other Governmental Authority, in
each case binding upon such Person or any of its property or to which such Person or any of its property is subject. 
  
 “Restricted Payment” means: (i) the declaration or payment of any dividend or the incurrence of any liability to make any other payment or distribution of cash
or other property or assets on or in respect of any Borrower’s or any other Credit Party’s Stock; (ii) any payment or distribution made in respect of any subordinated Indebtedness of any Borrower or any other Credit Party in violation of
any subordination or other agreement made in favor of Lender; (iii) any payment on account of the purchase, redemption, defeasance or other retirement of any Borrower’s or any other Credit Party’s Stock or Indebtedness or any other payment
or distribution made in respect of any thereof, either directly or indirectly; other than (A) that arising under this Agreement or (B) interest and principal, when due without acceleration or modification of the amortization as in effect on the
Closing Date, under Indebtedness (not including subordinated Indebtedness, payments of which shall be permitted only in accordance with the terms of the relevant subordination agreement made in favor of Lender) described in Disclosure Schedule
(5(b)); or (iv) any payment, loan, contribution, or other transfer of funds or other property to any Stockholder of such Person which is not expressly and specifically permitted in this Agreement; provided, that no payment to Lender shall constitute
a Restricted Payment. 
  
 “Software” means all “software” as
such term is defined in the Code, now owned or hereafter acquired by any Person, including all computer programs and all supporting information provided in connection with a transaction related to any program. 
  
 “Stated Expiry Date” means June 26, 2004. 
  
 “Stated Maturity Date” means, for each Term Loan Advance, the date that is 59
months after the first Principal Payment Date of such Term Loan Advance, but in no event later than July 1, 2009. 
  
 “Stock” means all certificated and uncertificated shares, options, warrants, membership interests, general or limited partnership interests, participation or
other equivalents (regardless of how designated) of or in a corporation, partnership, limited liability company or equivalent entity whether voting or nonvoting, including common stock, preferred stock, or any other “equity security” (as
such term is defined in 

  

 8 

 
Rule 3a11-1 of the General Rules and Regulations promulgated by the Securities and Exchange Commission under the Securities Exchange Act of 1934).

  
 “Stockholder” means each holder of Stock of any Borrower or any
other Credit Party. 
  
 “Subsidiary” means, with respect to any Person,
(i) any corporation of which an aggregate of more than 50% of the outstanding Stock having ordinary voting power to elect a majority of the board of directors of such corporation (irrespective of whether, at the time, Stock of any other class or
classes of such corporation shall have or might have voting power by reason of the happening of any contingency) is at the time, directly or indirectly, owned legally or beneficially by such Person and/or one or more Subsidiaries of such Person, or
with respect to which any such Person has the right to vote or designate the vote of 50% or more of such Stock whether by proxy, agreement, operation of law or otherwise, and (ii) any partnership or limited liability company in which such Person or
one or more Subsidiaries of such Person has an equity interest (whether in the form of voting or participation in profits or capital contribution) of more than 50% or of which any such Person is a general partner or manager or may exercise the
powers of a general partner or manager. 
  
 “Supporting Obligations”
means all “supporting obligations” as such term is defined in the Code, including letters of credit and guaranties issued in support of Accounts, Chattel Paper, Documents, General Intangibles, Instruments, or Investment Property.

  
 “Tangible Net Worth” means, with respect to any Person, at any date,
the total assets (excluding any assets attributable to any issuances by such Person of any Stock after the Closing Date and excluding any intangible assets) minus the total liabilities, in each case, of such Person at such date determined in
accordance with GAAP. 
  
 “Taxes” means taxes, levies, imposts,
deductions, Charges or withholdings, and all liabilities with respect thereto, excluding taxes imposed on or measured by the net income of Lender. 
  
 “Term Loan” means the loan in the amount specified in and evidenced by the Term Note, and made to Borrowers under the terms of this Agreement, and any renewals,
extensions, revisions, modifications or replacements therefor or thereof. 
  
 “Term Loan Advance” has the meaning assigned to it in Section 1.1(a). 
  
 “Term Note” means the promissory note of Borrowers dated the Closing Date, substantially in the form of Exhibit C, and any renewals, extensions, revisions, modifications or replacements therefor or thereof.

  
 “Termination Date” means the date on which all Obligations under
this Agreement are indefeasibly paid in full, in cash, and no Borrower shall have any further right to borrow any moneys or obtain other credit extensions or financial accommodations under this Agreement. 
  
 “Trademark License” means rights under any written agreement now owned or hereafter
acquired by any Person granting any right to use any Trademark or Trademark registration. 
  
 “Trademarks” means all of the following now owned or hereafter adopted or acquired by any Person: (i) all trademarks, trade names, corporate names, business names, trade styles, service marks, logos, other
source or business identifiers, prints and labels on which any of the foregoing have appeared or appear, designs and general intangibles of like nature (whether registered or unregistered) all registrations and recordings thereof, and all
applications in connection therewith, including (without limitation) all registrations, recordings and applications in the United States Patent and Trademark Office or in any similar office or agency of the United States, any State or Territory
thereof, or any other country or any political subdivision thereof: (ii) all reissues, extensions or renewals thereof; and (iii) all goodwill associated with or symbolized by any of the foregoing. 
  
 “Transaction Summary” means the Transaction Summary set forth in the Recitals to
this Agreement. 
  
 “Unused Fee” has the meaning assigned to it in
Schedule C. 
  
 “Withdrawal Liability” means liability to a
Multiemployer Plan as a result of a complete or partial withdrawal from such Multiemployer Plan, as such terms are defined in Part I of Subtitle E of Title IV of ERISA. 
  
 “Wrangler Appraisal” means the appraisal dated December 20, 2003 prepared for Lender by Hadco International. 
  
 Any accounting term used in this Agreement or the other Loan Documents shall have, unless
otherwise specifically provided therein, the meaning customarily given such term in accordance with GAAP, and all financial computations thereunder shall be computed, unless otherwise specifically provided therein, in accordance with GAAP
consistently applied; provided, that all financial covenants and calculations in the Loan Documents shall be made in accordance with GAAP as in effect on the Closing Date unless Borrowers and Lender 

  

 9 

 
shall otherwise specifically agree in writing. That certain items or computations are explicitly modified by the phrase “in accordance with GAAP”
shall in no way be construed to limit the foregoing. All other undefined terms contained in this Agreement or the other Loan Documents shall, unless the context indicates otherwise, have the meanings provided for by the Code. The words
“herein,” “hereof” and “hereunder” or other words of similar import refer to this Agreement as a whole, including the exhibits and schedules thereto, as the same may from time to time be amended, modified or
supplemented, and not to any particular section, subsection or clause contained in this Agreement. 
  
 For purposes of this Agreement and the other Loan Documents, the following additional rules of construction shall apply, unless specifically indicated to the contrary: (a) wherever from the context it appears
appropriate, each term stated in either the singular or plural shall include the singular and the plural; (b) the term “or” is not exclusive; (c) the term “including” (or any form thereof) shall not be limiting or exclusive; (d)
all references to statutes and related regulations shall include any amendments of same and any successor statutes and regulations; and (e) all references to any instruments or agreements, including references to any of the Loan Documents, shall
include any and all modifications or amendments thereto and any and all extensions or renewals thereof. 
  

 10FIRST AMENDMENT TO THE LOAN AND SECURITY AGREEMENT

 Exhibit 10.2 
  
 FIRST AMENDMENT TO LOAN AND SECURITY AGREEMENT 
  
 THIS FIRST AMENDMENT TO LOAN AND SECURITY AGREEMENT is dated as of September 24, 2004 (this “Amendment”) by and
among BRONCO DRILLING COMPANY, L.L.C., an Oklahoma limited liability company (together with its successors and assigns, “Bronco”), ELK HILL DRILLING, INC., a Texas corporation (together with its successors and assigns, “Elk
Hill”), WRANGLER EQUIPMENT LLC, an Oklahoma limited liability company (together with its successors and assigns, “Wrangler”; Bronco, Elk Hill and Wrangler, each a “Borrower” and, together, “Borrowers”) and GENERAL
ELECTRIC CAPITAL CORPORATION, a Delaware corporation (together with its successors and assigns, “Lender”). All capitalized terms used herein and not otherwise defined shall have the meanings assigned to such terms in the Loan and Security
Agreement dated as of December 26, 2003 (the “Loan Agreement”) among Borrowers and Lender. 
  
 RECITALS 
  
 WHEREAS, Borrowers and Lender have entered into the Loan Agreement, providing for financing in an original principal amount not to exceed $12,000,000.00; and 
  
 WHEREAS, Borrowers and Lender desire to amend certain provisions of the Loan Agreement in order to increase the maximum
principal amount that may be advanced to Borrowers under the Loan Agreement by an additional $6,000,000.00, subject to the terms of this Amendment; and 
  
 WHEREAS, Borrowers and Lender desire to clarify such other terms of the Loan Documents as provided herein; 
  
 NOW, THEREFORE, for good and valuable considerations, receipt of which is
hereby acknowledged and in consideration of the mutual covenants and agreements hereinafter contained, the parties agree as follows: 
  
 Section 1. Amendments to Loan Agreement. Provided that the terms and conditions hereof are satisfied, Borrowers and Lender hereby
amend the following provisions of the Loan Agreement: 
  
 (a) Exhibit C in the Index of Exhibits and Schedules is amended from “Form of Term Note” to “Form of Original Term Note.” 
  
 (b) Exhibit H is added to the Index of Exhibits and Schedules as follows: 
  
 Exhibit H - Form of Amended and Restated Term Note 
  
 (c) The Transaction Summary is replaced in its entirety with the Transaction Summary attached hereto as
Exhibit A. 
  
 (d) The fourth sentence of Section
1.1(a) is amended and restated, in its entirety, as follows: 
  
 On or prior to the Closing Date, Borrowers shall execute and deliver to Lender the Original Term Note, which shall evidence the Loan. On or prior to the Amendment Date, Borrowers shall execute and deliver to Lender the Term Note, which
shall amend and restate, in its entirety, the Original Term Note and which shall evidence the Loan. 
  

 (e) Section 1.2(b) is amended by adding the following clause immediately before the
period at the end of such Section: 
  
 ; provided,
further, in the event of a prepayment of less than the entire outstanding principal balance of the Loan made in accordance with the terms of this Agreement, such prepayment shall applied to the Term Loan Advances in the same order in which the
Term Loan Advances have been made, and the Prepayment Fee thereon shall be calculated in accordance with such order of prepayment. 
  
 (f) New Section 1.2(f) is added as follows: 
  
 (f) Upon issuance of any Indebtedness or any Stock (other than the Stock set forth in Disclosure Schedule (3.7)) by any Borrower,
Borrowers shall immediately repay with all of the proceeds of such issuance of Indebtedness or Stock all or a portion, as applicable, of the Loan, including accrued and unpaid interest on the amount prepaid, plus the aggregate Prepayment Fee for the
portion of the principal prepaid and all other amounts owed under the Loan Documents. 
  
 (g) Section 1.3 is amended and restated, in its entirety, as follows: 
  
 1.3. Use of Proceeds. Borrowers shall use the proceeds of the Loan (a) with respect to the first Term
Loan Advances in the aggregate original principal amount of $12,000,000 of the Maximum Amount to refinance on the Closing Date certain outstanding Indebtedness, to refurbish drilling rigs and for working capital and other general corporate purposes
and (b) with respect to the remaining Term Loan Advances in the aggregate original principal amount of $6,000,000 of the Maximum Amount, to refurbish additional drilling rigs and for working capital and other general corporate purposes relating to
the drilling rigs and deployment thereof. 
  
 (h)
The following definitions are added to Schedule A: 
  
 “Amendment Date” means September 24, 2004, which date shall be the date of the Term Note and which date shall constitute a Funding Date hereunder. 
  
 “Original Term Note” means the promissory note of Borrowers dated the Closing Date, substantially in the form of
Exhibit C. 
  
 (i) The definition of
“Closing Date” in Schedule A is amended and restated, in its entirety, as follows: 
  
 “Closing Date” means December 26, 2003. 
  
 (j) The definition of “Loan Documents” in Schedule A is amended and restated, in its entirety, as follows: 
  
 “Loan Documents” means this Agreement, the Original Term Note, the
Term Note, the Financial Statements, each Power of Attorney, each Pay Proceeds Letter and the other documents and instruments listed in Schedule D, and all security agreements, mortgages and all other documents, instruments, certificates,
amendments, restatements, modifications and notices at any time delivered by any Person (other than Lender) in connection with any of the foregoing. 
  
 (k) The definition of “Maximum Amount” in Schedule A is amended by replacing “$12,000,000.00” with
“$18,000,000.00.” 
  

 2 

 (l) The definition of “Pay Proceeds Letter” in Schedule A is amended and
restated, in its entirety, as follows: 
  
 “Pay Proceeds
Letter” means the Pay Proceeds Letter dated the Closing Date executed by Borrowers with respect to the Term Loan Advance made on the Closing Date or any Pay Proceeds Letter dated the applicable Funding Date executed by Borrowers with respect to
the Term Loan Advance made on such Funding Date. 
  
 (m) The definition of “Principal Payment Date” in Schedule A is amended and restated, in its entirety, as follows: 
  
 “Principal Payment Date” means each Payment Date, commencing with respect to (i) the initial Term Loan Advance on the first day of the first
month that is at least one full month after the Closing Date and (ii) each other Term Loan Advance on the first day of the first month that is at least one full month after the Funding Date of such Term Loan Advance. 
  
 (n) The definition of “Stated Expiry Date” in
Schedule A is amended to replace “June 26, 2004” with “March 24, 2005.” 
  
 (o) The definition of “Stated Maturity Date” in Schedule A is amended to replace “July 1, 2009” with “April 1,
2010.” 
  
 (p) The definition of “Term
Note” in Schedule A is amended and restated, in its entirety, as follows: 
  
 “Term Note” means the promissory note of Borrowers dated the Amendment Date, substantially in the form of Exhibit H, and any renewals, extensions, revisions, modifications or replacements therefor or
thereof. 
  
 (q) Section 1 of Schedule C is
amended and restated, in its entirety, as follows: 
  
 1.
CLOSING FEE: A non-refundable closing fee of (a) 1.50% of $12,000,000.00, payable and fully earned on the Closing Date and (b) 1.50% of $6,000,000.00, payable and fully earned on the Amendment Date (together, the “Closing Fee”).

  
 (r) Section 2 of Schedule C is amended and
restated, in its entirety, as follows: 
  
 2. PREPAYMENT
FEE: “Prepayment Fee” means: 
  
 (a) with respect to any acceleration or prepayment of the first Term Loan Advances in the aggregate original principal amount of $12,000,000 of the Maximum Amount of the Loan, an amount equal to the sum (i) the principal amount to be
prepaid on the date of prepayment multiplied by (b)(i) 5.0% if prepayment shall occur (voluntarily by Borrowers, upon an Event of Default or otherwise) after the Closing Date and on or before the first anniversary of the Closing Date, (ii) 4.0% if
prepayment shall occur (voluntarily by Borrowers, upon an Event of Default or otherwise) after the first anniversary of the Closing Date and on or before the second anniversary of the Closing Date, (iii) 3.0% if prepayment shall occur (voluntarily
by Borrowers, upon an Event of Default or otherwise) after the second anniversary of the Closing Date and on or before the third anniversary of the Closing Date, (iv) 2.0% if prepayment shall occur (voluntarily by Borrowers, upon an Event of Default
or otherwise) after the third anniversary of the Closing Date and on or before fourth anniversary of the Closing Date or (v) 1.0% if 

  

 3 

 
prepayment shall occur (voluntarily by Borrowers, upon an Event of Default or otherwise) after the fourth anniversary of the Closing Date; and 
  
 (b) with respect to any acceleration or prepayment of the
remaining Term Loan Advances in the aggregate original principal amount of $6,000,000 of the Maximum Amount of the Loan, an amount equal to the sum (i) the principal amount to be prepaid on the date of prepayment multiplied by (b)(i) 5.0% if
prepayment shall occur (voluntarily by Borrowers, upon an Event of Default or otherwise) after the Amendment Date and on or before the first anniversary of the Amendment Date, (ii) 4.0% if prepayment shall occur (voluntarily by Borrowers, upon an
Event of Default or otherwise) after the first anniversary of the Amendment Date and on or before the second anniversary of the Amendment Date, (iii) 3.0% if prepayment shall occur (voluntarily by Borrowers, upon an Event of Default or otherwise)
after the second anniversary of the Amendment Date and on or before the third anniversary of the Amendment Date, (iv) 2.0% if prepayment shall occur (voluntarily by Borrowers, upon an Event of Default or otherwise) after the third anniversary of the
Amendment Date and on or before fourth anniversary of the Amendment Date or (v) 1.0% if prepayment shall occur (voluntarily by Borrowers, upon an Event of Default or otherwise) after the fourth anniversary of the Amendment Date. 
  
 In the event of a prepayment of less than the entire outstanding principal
balance of the Loan made in accordance with the terms of this Agreement, such prepayment shall applied to the Term Loan Advances in the same order in which the Term Loan Advances have been made, and the Prepayment Fee thereon shall be calculated in
accordance with such order of prepayment. 
  
 Each Borrower
acknowledges and agrees that (i) it would be difficult or impractical to calculate Lender’s actual damages from prepayment for any reason pursuant to Section 1.2(c) or Section 7.2, (ii) the Prepayment Fees provided above are intended to be fair
and reasonable approximations of such damages and (iii) the Prepayment Fees are not intended to be penalties. 
  
 (s) In Schedule D, under the heading “PRINCIPAL DOCUMENTS,” both occurrences of the clause “Term Note” are replaced
with the clause “Original Term Note.” 
  
 (t) In Schedule E, the last paragraph is amended and restated, in its entirety, as follows: 
  
 Notwithstanding the foregoing, for each of the Fiscal Quarters ending through and including December 31, 2005, if the Debt Service Coverage Ratio of
Bronco and its Subsidiaries on a consolidated basis shall otherwise be less than 1.00:1.00, Bronco and its Subsidiaries shall be deemed to have complied with the Debt Service Coverage Ratio requirement if, within 60 days of the end of such Fiscal
Quarters, (i) the Stockholders of Bronco and its Subsidiaries shall have indefeasibly provided equity to Bronco and its Subsidiaries in an amount sufficient, when added to EBITDA, to cause the Debt Service Coverage Ratio of Bronco and its
Subsidiaries on a consolidated basis to be not less than 1.00:1.00 and (ii) Bronco shall have provided Lender with evidence of any such equity contribution in form and substance acceptable to Lender in Lender’s sole and absolute discretion.

  
 (u) The heading of Exhibit C is amended from
“FORM OF TERM NOTE” to “FORM OF ORIGINAL TERM NOTE.” 
  
 (v) Exhibit G is replaced in its entirety with the Form of Notice of Term Loan Advance attached hereto as Exhibit B. 
  

 4 

 (w) The Form of Amended and Restated Term Note attached hereto as Exhibit C is added to
the Loan Agreement as Exhibit H. 
  
 Section 2.
Amendments to Other Loan Documents. Provided that the terms and conditions hereof are satisfied, Borrowers and Lender hereby amend certain Loan Documents as follows: 
  
 (a) In each Power of Attorney, the clause “(the “Agreement”;” is replaced with the
clause “(as amended, restated or supplemented from time to time, the “Agreement”;” 
  
 Section 3. Conditions Precedent. Lender’s agreement to increase the Maximum Amount and to enter into this Amendment shall be
subject to the condition precedent that Lender shall have received all of the following, each in form and substance acceptable to Lender: 
  
 (a) This Amendment, properly executed on behalf of Borrowers; 
  
 (b) The Amended and Restated Term Note dated as of the date hereof (the “Amended Note”), property
executed on behalf of Borrowers; 
  
 (c) The
Notice of Term Loan Advance dated as of the date hereof (the “Advance”), properly completed and executed on behalf of Borrowers; 
  
 (d) The Pay Proceeds Letter dated as of the date hereof (the “Pay Proceeds Letter”), properly executed on behalf of Borrowers;

  
 (e) A certificate of the Secretary or an
Assistant Secretary of each Borrower, certifying as to: (i) the resolutions or consent of the members of such Borrower authorizing the execution, delivery and performance of this Amendment, the Amended Note, the Advance, the Pay Proceeds Letter and
any related documents; (ii) the currency and accuracy of the organizational documents of such Borrower delivered on the Closing Date; and (iii) the signatures of the officers or agents of such Borrower authorized to execute and deliver this
Amendment, the Amended Note, the Advance, the Pay Proceeds Letter and other instruments, agreements and certificates on behalf of such Borrower; 
  
 (f) A Certificate of Good Standing issued as to each Borrower by the Secretary of the State of the state of such Borrower’s
organization not more than 10 days prior to the date hereof; 
  
 (g) An opinion of counsel to Borrowers, addressed to Lender; 
  
 (h) Current searches of appropriate filing offices showing that (i) no state or federal tax Liens or judgment Liens have been filed and
remain in effect against any Borrower and (ii) no financing statements have been filed and remain in effect against any Borrower relating to the Collateral except those financing statements filed by Lender and except those financing statements
evidencing Liens described on Disclosure Schedule 5(e). 
  
 (i) All Lien terminations, releases, amendments and certificates requested by Lender. 
  
 (j) Payment to Lender of the additional Closing Fee in the amount of $90,000.00; 
  
 (k) Payment to Lender of all fees and expenses of its
counsel; and 
  
 (l) Any other items required by
Lender. 
  

 5 

 Section 4. Representations, Warranties and Covenants of Borrowers. Each Borrower
represents, warrants and covenants for the benefit of Lender that: 
  
 (a) Except as modified herein, the representations, warranties and covenants of each Borrower contained in the Loan Agreement are true and
correct on and as of the Amendment Date as though made on and as of the Amendment Date. 
  
 (b) The execution, delivery and performance by each Credit Party of this Amendment, the Amended Note, the Advance, the Pay Proceeds Letter
and the related documents to which it is a party: (a) are and will continue to be within such Credit Party’s power and authority; (b) have been and will continue to be duly authorized by all necessary or proper action; (c) are not and will not
be in violation of any Requirement of Law or Contractual Obligation of such Credit Party; (d) do not and will not result in the creation or imposition of any Lien (other than Permitted Encumbrances) upon any of the Collateral; and (e) do not and
will not require the consent or approval of any Governmental Authority or any other Person. 
  
 (c) As of the Closing Date, each of this Amendment, the Amended Note, the Advance, the Pay Proceeds Letter and the related documents shall
have been duly executed and delivered on behalf of each Credit Party thereto, and each of this Amendment, the Amended Note, the Advance, the Pay Proceeds Letter and the related documents upon such execution and delivery shall be and will continue to
be a legal, valid and binding obligation of such Credit Party, enforceable against it in accordance with its terms, except as such enforcement may be limited by bankruptcy, insolvency and other similar laws affecting creditors’ rights
generally. 
  
 Section 5. Miscellaneous.

  
 (a) This Amendment can be waived, modified,
amended, terminated or discharged only explicitly in a writing signed by Lender. A waiver signed by Lender shall be effective only in the specific instance and for the specific purpose given. Mere delay or failure to act shall not preclude the
exercise or enforcement of any of Lender’s rights or remedies. 
  
 (b) The obligation of Borrowers to make the payments required under the Loan Agreement, as amended by the terms hereof, and to make any payments due hereunder and thereunder and to perform and observe the covenants
and agreements contained herein and therein shall be absolute and unconditional in all events, without abatement, diminution, deduction, setoff or defense for any reason, including (without limitation) any accident, condemnation, destruction or
unforeseen circumstances. Notwithstanding any dispute between or among any Borrower and Lender, Borrowers shall make all payments when due and shall not withhold any payments pending final resolution of such dispute, nor shall any Borrower assert
any right of set-off or counterclaim against its obligation to make such payments required hereunder and under the Loan Agreement, as amended by the terms hereof. 
  
 (c) This Amendment shall be binding upon and inure to the benefit of Borrowers and Lender and their
respective heirs, representatives, successors and assigns and shall take effect when signed by Borrowers and Lender. 
  
 (d) This Amendment shall be governed by the substantive laws of the State of New York, without giving effect to the conflicts of laws
principles thereof. 
  
 (e) The Loan Agreement
and this Amendment together constitute the “Loan Agreement” under the Loan Documents, and all references to the Loan Agreement in the Loan Documents shall be deemed to refer to both the Loan Agreement and this Amendment. Borrowers hereby
ratify and confirm that all terms and conditions of the Loan Agreement and all other Loan Documents are in full force and effect, subject to no defense, setoff or counterclaim. 
  

 6 

 (f) If any provision or application of this Amendment is held unlawful or unenforceable
in any respect, such illegality or unenforceability shall not affect other provisions or applications which can be given effect and this Amendment shall be construed as if the unlawful or unenforceable provision or application had never been
contained herein or prescribed hereby. 
  
 (g)
This Amendment may be executed in several counterparts, each of which shall be an original and all of which shall constitute one and the same instrument, and any of the parties hereto may execute this Amendment by signing any such counterpart,
provided that, with respect to this Agreement, only the original marked “ORIGINAL: 1 OF 2” on the execution page thereof shall constitute chattel paper under the UCC. 
  
 (h) BORROWERS AND LENDER HEREBY WAIVE THEIR RESPECTIVE RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF
ACTION BASED UPON OR ARISING OUT OF, DIRECTLY OR INDIRECTLY, THIS AMENDMENT, ANY OF THE RELATED DOCUMENTS, ANY DEALINGS BETWEEN BORROWER AND LENDER RELATING TO THE SUBJECT MATTER OF THE TRANSACTIONS CONTEMPLATED BY THIS AMENDMENT OR ANY RELATED
TRANSACTIONS, AND/OR THE RELATIONSHIP THAT IS BEING ESTABLISHED BETWEEN BORROWER AND LENDER. THE SCOPE OF THIS WAIVER IS INTENDED TO BE ALL ENCOMPASSING OF ANY AND ALL DISPUTES THAT MAY BE FILED IN ANY COURT (INCLUDING, WITHOUT LIMITATION, CONTRACT
CLAIMS, TORT CLAIMS, BREACH OF DUTY CLAIMS AND ALL OTHER COMMON LAW AND STATUTORY CLAIMS). THIS WAIVER IS IRREVOCABLE, MEANING THAT IT MAY NOT BE MODIFIED EITHER ORALLY OR IN WRITING, AND THIS WAIVER SHALL APPLY TO ANY SUBSEQUENT AMENDMENTS,
RENEWALS, SUPPLEMENTS OR MODIFICATIONS TO THIS AMENDMENT, ANY RELATED DOCUMENTS, OR TO ANY OTHER DOCUMENTS OR AGREEMENTS RELATING TO THE TRANSACTIONS CONTEMPLATED BY THIS AMENDMENT OR ANY RELATED TRANSACTIONS. IN THE EVENT OF LITIGATION, THIS
AMENDMENT MAY BE FILED AS A WRITTEN CONSENT TO A TRIAL BY THE COURT. 
  
 (i) Borrowers agree and acknowledge as follows: 
  
 (i) The Obligations of Bronco, Elk Hill and Wrangler (each, a “Co-Borrower”) under each Loan Document are joint and several.
Each reference to the term “Borrowers” in each Loan Document shall be deemed to refer to each Co-Borrower; each representation and warranty made by Borrowers in any Loan Document shall be deemed to have been made by each Co-Borrower; each
covenant and undertaking on the part of Borrowers under each Loan Document shall be deemed individually applicable with respect to each Co-Borrower; and each event constituting an Event of Default under this Agreement shall be determined with
respect to each Co-Borrower. A separate action or actions may be brought and prosecuted against any Co-Borrower whether an action is brought against any other Co-Borrower or whether any other Co-Borrower is joined in any such action or actions. Each
Co-Borrower waives any right to require Lender to: (A) proceed against any other Co-Borrower; (B) proceed against or exhaust any security held from any other Co-Borrower; or (C) pursue any other remedy in Lender’s power whatsoever. Notices
under any Loan Document required to be provided to Borrowers shall be effective if provided to any Co-Borrower. Any consent on the part of Borrowers under any Loan Document shall be effective when provided by any Co-Borrower, and Lender shall be
entitled to rely upon any notice or consent given by any Co-Borrower as being notice or consent given by Borrowers hereunder. 
  
 (ii) In the event any obligation of Borrowers under any Loan Document is deemed to be an agreement by any Co-Borrower to answer for the
debt or default of another Co-Borrower or as a hypothecation of property as security therefor, each Co-Borrower represents and warrants that: (i) no representation has been made to it as to the creditworthiness of any other Co-Borrower and (ii) it
has established adequate means of obtaining from each other Co-Borrower on a continuing basis, financial or other information pertaining to each other Co-Borrower’s financial condition. 

  

 7 

 
Except as otherwise provided in the Loan Documents, each Co-Borrower expressly waives diligence, demand, presentment, protest and notice of every kind and
nature whatsoever, consents to the taking by Lender of any additional security in which either Co-Borrower has an interest for the Obligations, or the alteration or release in any manner of any security now or hereafter held in connection with any
obligations under any Loan Document, and consents that Lender and any Co-Borrower may deal with each other in connection with said obligations or otherwise, or alter any contracts now or hereafter existing between them, in any manner whatsoever,
including, without limitation, the renewal, extension, acceleration, changes in time for payment, and increases or decreases in any rent, rate of interest or other amounts owing, all without in any way altering the liability of any Co-Borrower, or
affecting any security for such obligations. Upon the occurrence of an Event of Default, Lender is hereby expressly given the right, at its option, to proceed in the enforcement of such Obligations or Loan Document independently of any other remedy
or security it may at any time hold in connection with such Obligations and it shall not be necessary for Lender to proceed upon or against and/or exhaust any other security or remedy before proceeding to enforce its rights against any Co-Borrower.
Each Co-Borrower further waives any right of subrogation, reimbursement, exoneration, contribution, indemnification, setoff or other recourse in respect of sums paid to Lender by any Co-Borrower. 
  
 [REMAINDER OF PAGE INTENTIONALLY BLANK; EXECUTION PAGE FOLLOWS] 
  

 8 

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed as of the above date.

  

			
	 BORROWERS:

	
	 BRONCO DRILLING COMPANY, L.L.C.

		
	By	 	 /s/ PAUL JACOBI

	 Name 
	 	 Paul Jacobi

	 Title 
	 	 Vice President

	
	 ELK HILL DRILLING, INC.

		
	By	 	 /s/ PAUL JACOBI

	 Name 
	 	 Paul Jacobi

	 Title 
	 	 Vice President

	
	 WRANGLER EQUIPMENT LLC

		
	By	 	 /s/ PAUL JACOBI

	 Name 
	 	 Paul Jacobi

	 Title 
	 	 Vice President

	
	 LENDER:

	
	 GENERAL ELECTRIC CAPITAL CORPORATION

		
	By	 	 /s/ JOSEPH B. WILLIAMS

	 Name 
	 	 Joseph B. Williams

	 Title 
	 	 Senior Risk Manager

  
 ORIGINAL:
     OF 2 
  
 [EXECUTION PAGE OF
FIRST AMENDMENT TO LOAN AND SECURITY AGREEMENT]

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