Document:

Exhibit 10.1

 

 

 

CREDIT
AND GUARANTY AGREEMENT

 

Dated
as of June 11, 2018

 

among

 

NRC
US HOLDING COMPANY, LLC and SPRINT ENERGY SERVICES, LLC

each
as a Borrower

 

NRC
GROUP HOLDINGS, LLC,

as
Parent

 

JFL-NRC
HOLDINGS, LLC and SES HOLDCO, LLC,

as
Guarantors

 

CERTAIN
OTHER SUBSIDIARIES OF PARENT PARTY HERETO,

as Guarantors,

 

THE
LENDERS PARTY HERETO

 

and

 

BNP
PARIBAS,

as Administrative Agent and Collateral Agent

 

 

  

BNP
PARIBAS SECURITIES CORP.,

as Sole Lead Arranger and Sole Bookrunner

 

 

 

Winston
& Strawn LLP

200 Park Avenue

New York, New York 10166

 

 

 

     

     

    

 

TABLE
OF CONTENTS

 

	 	 	 	Page
	SECTION 1	 	DEFINITIONS AND INTERPRETATION	1
	1.1	 	Definitions	1
	1.2	 	Accounting Terms	52
	1.3	 	Interpretation, Etc	52
	1.4	 	Certifications	52
	1.5	 	Timing of Performance	53
	1.6	 	Cashless Rollovers	53
	1.7	 	Pro Forma Calculations and Adjustments	53
	1.8	 	Limited Condition Transactions	53
	1.9	 	Currency Generally	54
	1.10	 	Rounding	54
	1.11	 	Currency	54
	SECTION 2	 	LOANS AND LETTERS OF CREDIT	54
	2.1	 	Term Loans	54
	2.2	 	Revolving Loans	55
	2.3	 	Swing Line Loans	56
	2.4	 	Letters of Credit	59
	2.5	 	Pro Rata Shares; Availability of Funds	64
	2.6	 	Use of Proceeds	65
	2.7	 	Evidence of Debt; Notes	66
	2.8	 	Interest on Loans	66
	2.9	 	Conversion and Continuation	68
	2.10	 	Default Interest	69
	2.11	 	Fees	69
	2.12	 	Installments and Maturity	70
	2.13	 	Voluntary Prepayments and Reductions	70
	2.14	 	Mandatory Prepayments and Reductions	74
	2.15	 	Application of Prepayments	75
	2.16	 	General Provisions Regarding Payments	75
	2.17	 	Ratable Sharing	76
	2.18	 	Making or Maintaining Eurodollar Loans	76
	2.19	 	Increased Costs; Capital Adequacy	78
	2.20	 	Taxes; Withholding, Etc	79
	2.21	 	Obligation to Mitigate	83
	2.22	 	Defaulting Lenders	83
	2.23	 	Replacement of Lenders	86
	2.24	 	Extension of Loans	87
	2.25	 	Incremental Facilities	90
	2.26	 	Permitted Refinancing Amendment	95
	2.27	 	Joint and Several Liability	96
	2.28	 	Borrower Representative	97
	SECTION 3	 	CONDITIONS PRECEDENT	98
	3.1	 	Conditions to Closing Date	98
	3.2	 	Conditions to Subsequent Credit Extensions	102

 

    i 

     

    

 

Table of Contents (continued)

 

	 	 	 	Page
	SECTION 4	 	REPRESENTATIONS AND WARRANTIES	103
	4.1	 	Organization; Required Power and Authority; Qualification	103
	4.2	 	Equity Interests and Ownership	104
	4.3	 	Due Authorization	104
	4.4	 	No Conflict	104
	4.5	 	Governmental Consents	104
	4.6	 	Binding Obligation	104
	4.7	 	Historical Financial Statements	105
	4.8	 	Projections	105
	4.9	 	No Material Adverse Change	105
	4.10	 	Adverse Proceedings	105
	4.11	 	Payment of Taxes	105
	4.12	 	Title	105
	4.13	 	Real Estate Assets	105
	4.14	 	Environmental Matters	106
	4.15	 	No Defaults	106
	4.16	 	Investment Company Regulation	106
	4.17	 	Margin Stock	106
	4.18	 	Employee Matters	106
	4.19	 	Employee Benefit Plans	107
	4.20	 	Certain Fees	107
	4.21	 	Solvency	107
	4.22	 	Closing Date Contribution Documents	107
	4.23	 	Compliance with Laws	107
	4.24	 	Disclosure	108
	4.25	 	Collateral	108
	4.26	 	Status as Senior Indebtedness	109
	4.27	 	Vessels	109
	4.28	 	Vessel Insurance	109
	SECTION 5	 	AFFIRMATIVE COVENANTS	109
	5.1	 	Financial Statements and Other Reports and Notices	109
	5.2	 	Existence	113
	5.3	 	Payment of Taxes and Claims	113
	5.4	 	Maintenance of Properties	113
	5.5	 	Insurance	113
	5.6	 	Books and Records	114
	5.7	 	Inspections	114
	5.8	 	Lenders Meetings	114
	5.9	 	Compliance with Laws	114
	5.10	 	Environmental	115
	5.11	 	Subsidiaries	115
	5.12	 	Material Real Estate Assets	116
	5.13	 	Unrestricted Subsidiaries	118
	5.14	 	Ratings	119
	5.15	 	Use of Proceeds	119
	5.16	 	Certificates of Documentation; Preferred Mortgages on Vessels	119
	5.17	 	Vessel Operation and Condition.	120
	5.18	 	Further Assurances	120
	5.19	 	Post-Closing Obligations	120

 

    ii 

     

    

 

Table of Contents (continued)

 

	 	 	 	Page
	SECTION 6	 	NEGATIVE COVENANTS	121
	6.1	 	Indebtedness	121
	6.2	 	Liens	128
	6.3	 	Payments and Prepayments of Certain Indebtedness	132
	6.4	 	Restricted Payments	133
	6.5	 	Burdensome Agreements	137
	6.6	 	Investments	139
	6.7	 	Financial Condition Covenant	142
	6.8	 	Fundamental Changes	142
	6.9	 	Dispositions	142
	6.10	 	Sales and Lease-Backs	144
	6.11	 	Transactions with Affiliates	144
	6.12	 	Conduct of Business	146
	6.13	 	Permitted Activities of Parent	146
	6.14	 	Amendments or Waivers of Certain Documents	147
	6.15	 	Fiscal Year	147
	SECTION 7	 	GUARANTY	147
	7.1	 	Guaranty of the Obligations	147
	7.2	 	Contribution by Guarantors	148
	7.3	 	Payment by Guarantors	148
	7.4	 	Liability of Guarantors Absolute	148
	7.5	 	Waivers by Guarantors	150
	7.6	 	Guarantors’ Rights of Subrogation, Contribution, Etc	151
	7.7	 	Subordination of Other Obligations	151
	7.8	 	Continuing Guaranty	151
	7.9	 	Authority of Guarantors or the Borrowers	151
	7.10	 	Financial Condition of the Borrowers	152
	7.11	 	Bankruptcy, Etc	152
	7.12	 	Discharge of Guaranty Upon Sale of Guarantor	152
	7.13	 	Keepwell Agreement	153
	7.14	 	Maximum Liability	153
	SECTION 8	 	EVENTS OF DEFAULT	153
	8.1	 	Events of Default	153
	8.2	 	Acceleration	156
	8.3	 	Application of Payments and Proceeds	157
	8.4	 	Cure Right	158
	SECTION 9	 	AGENTS	159
	9.1	 	Appointment and Authority	159
	9.2	 	Rights as a Lender	159
	9.3	 	Exculpatory Provisions	159
	9.4	 	Reliance by Agents	160
	9.5	 	Delegation of Duties	161
	9.6	 	Resignation of the Administrative Agent	161
	9.7	 	Non-Reliance on Agents and Other Lenders	162
	9.8	 	No Other Duties, Etc	162
	9.9	 	Administrative Agent May File Proofs of Claim	162
	9.10	 	Collateral Documents and Guaranty	163
	9.11	 	Withholding Taxes	165

  

    iii 

     

    

 

Table of Contents (continued)

 

	 	 	 	Page
	SECTION 10	 	MISCELLANEOUS	165
	10.1	 	Notices	165
	10.2	 	Expenses	166
	10.3	 	Indemnity; Certain Waivers	167
	10.4	 	Set-Off	168
	10.5	 	Amendments and Waivers	169
	10.6	 	Successors and Assigns; Participations	173
	10.7	 	Independence of Covenants	182
	10.8	 	Survival of Representations, Warranties and Agreements	182
	10.9	 	No Waiver; Remedies Cumulative	182
	10.10	 	Marshalling; Payments Set Aside	183
	10.11	 	Severability	183
	10.12	 	Obligations Several; Independent Nature of the Lenders’ Rights	183
	10.13	 	Headings	183
	10.14	 	Governing Law	183
	10.15	 	Consent to Jurisdiction	184
	10.16	 	WAIVER OF JURY TRIAL	184
	10.17	 	Confidentiality	185
	10.18	 	Usury Savings Clause	185
	10.19	 	No Strict Construction	185
	10.20	 	Counterparts; Effectiveness	186
	10.21	 	Integration	186
	10.22	 	No Fiduciary Duty	186
	10.23	 	PATRIOT Act	186
	10.24	 	Judgment Currency	186
	10.25	 	Acknowledgement and Consent to Bail-In of EEA Financial Institutions	187

 

    iv 

     

    

 

	APPENDICES:	A-1	Initial
    Term Loan Commitments
	 	A-2	Revolving
    Credit Commitments
	 	B	Notice
    Addresses
	 	C	Dutch
    Auction Procedures
	 	 	 
	SCHEDULES:	1.1(a)	Existing
    Indebtedness
	 	1.1(b)	Existing
    Letters of Credit
	 	4.1	Jurisdictions
    of Organization and Qualification
	 	4.2	Equity
    Interests and Ownership
	 	4.13	Real
    Estate Assets
	 	4.27	Vessels
	 	4.28	Vessel
    Insurance
	 	5.12	Closing
    Date Mortgaged Properties
	 	5.19	Post-Closing
    Obligations
	 	6.1	Certain
    Indebtedness
	 	6.2	Certain
    Liens
	 	6.6	Certain
    Investments
	 	 	 
	EXHIBITS:	A-1	Form
    of Funding Notice
	 	A-2	Form
    of Conversion/Continuation Notice
	 	A-3	Form
    of Issuance Notice
	 	B-1	Form
    of Term Loan Note
	 	B-2	Form
    of Revolving Loan Note
	 	B-3	Form
    of Swing Line Note
	 	B-4	Form
    of Incremental Term Loan Note
	 	C-1	Form
    of Compliance Certificate
	 	C-2	Form
    of Pro Forma Compliance Certificate
	 	D-1	Form
    of US Tax Compliance Certificate (For Foreign Lenders That Are Not Partnerships For US Federal Income Tax Purposes)
	 	D-2	Form
    of US Tax Compliance Certificate (For Non-US Participants That Are Not Partnerships For US Federal Income Tax Purposes)
	 	D-3	Form
    of US Tax Compliance Certificate (For Non-US Participants That Are Partnerships For US Federal Income Tax Purposes)
	 	D-4	Form
    of US Tax Compliance Certificate (For Foreign Lenders That Are Partnerships For US Federal Income Tax Purposes)
	 	E	Form
    of Assignment and Assumption
	 	F	Form
    of Closing Date Certificate
	 	G	Form
    of Counterpart Agreement
	 	H	Form
    of Pledge and Security Agreement
	 	I	Form
    of Mortgage
	 	J	Form
    of Landlord Waiver and Consent Agreement
	 	K	Form
    of Joinder Agreement
	 	L	Form
    of Solvency Certificate

 

    v 

     

    

 

CREDIT
AND GUARANTY AGREEMENT

 

This
CREDIT AND GUARANTY AGREEMENT, dated as of June 11, 2018 (this “Agreement”), is entered into by and
among NRC US HOLDING COMPANY, LLC, a Delaware limited liability company (the “NRC Borrower”), SPRINT
ENERGY SERVICES, LLC, a Delaware limited liability company (the “Sprint Borrower”, and collectively with
the NRC Borrower, the “Borrowers” and each a “Borrower”), JFL-NRC HOLDINGS, LLC,
a Delaware limited liability company (“NRC Holdings”), SES HOLDCO, LLC, a Delaware limited liability
company (“Sprint Holdings”, and collectively with NRC Holdings, the “Holding Companies”
and each a “Holding Company”), NRC GROUP HOLDINGS, LLC, a Delaware limited liability company (“Parent”),
CERTAIN OTHER SUBSIDIARIES OF PARENT PARTY HERETO, as Guarantors, THE LENDERS PARTY HERETO, and BNP PARIBAS
(“BNP Paribas”), as administrative agent (together with its permitted successors in such capacity, the “Administrative
Agent”), and as collateral agent (together with its permitted successors in such capacity, the “Collateral
Agent”).

 

RECITALS:

 

WHEREAS,
capitalized terms used in these recitals shall have the respective meanings set forth for such terms in Section 1.1 hereof;

 

WHEREAS,
the Lenders have agreed to extend certain credit facilities to the Borrowers in an aggregate amount of $348,000,000, consisting
of $308,000,000 aggregate principal amount of Initial Term Loans and $40,000,000 aggregate principal amount of Revolving Credit
Commitments, the proceeds of which will be used to repay the Existing Indebtedness, fund the 2018 Dividend and other Related Transactions,
and for general corporate purposes, including Permitted Acquisitions;

 

WHEREAS,
the Guarantors party hereto have agreed to guarantee the obligations of the Borrowers hereunder; and

 

WHEREAS,
the Borrowers and the Guarantors party hereto have agreed to secure their respective Obligations by granting to the Collateral
Agent, for the benefit of the Secured Parties, a First Priority Lien on substantially all of their respective assets, subject
to the terms and conditions set forth herein and in the Collateral Documents.

 

NOW,
THEREFORE, in consideration of the premises and the agreements, provisions and covenants herein contained, the parties hereto
agree as follows:

 

SECTION
1 DEFINITIONS AND INTERPRETATION

 

1.1
Definitions. The following terms used herein, including in the preamble, recitals, appendices, schedules and exhibits
hereto, shall have the following meanings:

 

“2018
Dividend” means a one-time dividend distribution to Parent and then from Parent to the Sponsor in an aggregate (without
duplication) maximum amount of $85,000,000, a portion of which amount includes a return of equity contributed to the Credit Parties
in connection with the Progressive Acquisition.

 

“Adjusted
Eurodollar Rate” means with respect to each day during each Interest Period pertaining to a Eurodollar Loan, a rate
per annum equal to the greater of (x) 1.00% per annum, and (y) the Eurodollar Rate.

 

“Administrative
Agent” as defined in the preamble hereto.

 

    	 	1	 

     

    

 

“Administrative
Questionnaire” means an Administrative Questionnaire in a form supplied by or otherwise reasonably acceptable to the
Administrative Agent.

 

“Adverse
Proceeding” means any action, suit, proceeding, hearing (in each case, whether administrative, judicial or otherwise),
governmental investigation or arbitration (whether or not purportedly on behalf of Parent or any of its Restricted Subsidiaries)
at law or in equity, or before or by any Governmental Authority, domestic or foreign, whether pending or, to the knowledge of
Parent or any of its Restricted Subsidiaries, threatened in writing against Parent or any of its Restricted Subsidiaries or any
property of Parent or any of its Restricted Subsidiaries.

 

“Affected
Lender” as defined in Section 2.18(b).

 

“Affected
Loans” as defined in Section 2.18(b).

 

“Affiliate”
means, with respect to a specified Person, another Person that directly or indirectly through one or more intermediaries,
Controls or is Controlled by or is under common Control with the Person specified; provided, no Agent, Lead Arranger nor
any Lender shall be deemed an “Affiliate” of any Credit Party or of any Subsidiary of any Credit Party solely by reason
of the provisions of the Credit Documents.

 

“Affiliated
Lender” means an Affiliate of Parent or the Sponsor that becomes a “Lender” hereunder in accordance with
the terms hereof; provided, neither Parent nor any of its Subsidiaries, including the Borrowers, shall be an Affiliated
Lender.

 

“Agent”
means each of the Administrative Agent and the Collateral Agent.

 

“Agent
Parties” as defined in Section 10.1(d)(ii).

 

“Aggregate
Payments” as defined in Section 7.2.

 

“Agreement”
as defined in the preamble hereto.

 

“All-In-Yield”
means, with respect to any Loan on any date of determination, the yield to maturity, in each case, based on the interest rate
applicable to such Loan on such date (including any floor but only to the extent any increase in the interest rate floor applicable
to such Loan on such date would cause an increase in the interest rate then in effect thereunder, and in such case, the interest
rate floor (but not the interest rate margin) applicable to such Loan on such date shall be increased to the extent of such differential
between interest rate floors) and giving effect to all upfront or similar fees (including original issue discount where the amount
of such discount is equated to interest based on an assumed four-year life to maturity or, if the actual maturity date falls earlier
than four years, the lesser number of years) payable generally with respect to such Loan (but excluding such upfront or similar
fees to the extent they constitute commitment, arrangement, structuring, underwriting, amendment or similar fees that are not
distributed to Lenders generally), and without taking into account any fluctuations in the Eurodollar Rate.

 

“Alternate
Currency” means Euros, Pounds, Canadian Dollars, Japanese Yen or any other currency other than Dollars as may be acceptable
to the Administrative Agent and an Issuing Bank with respect thereto in the respective sole discretion of each such Person.

 

“Alternate
Currency Letter of Credit” means any Letter of Credit denominated in an Alternate Currency.

 

    	 	2	 

     

    

 

“AML
Laws” means all Laws of any jurisdiction applicable to any Lender, Parent or any of its Subsidiaries from time to time
primarily regarding anti-money laundering.

 

“Anti-Corruption
Laws” means all Laws of any jurisdiction applicable to Parent or any of its Subsidiaries from time to time primarily
regarding bribery or corruption.

 

“Anti-Terrorism
Laws” means the Laws applicable to any Lender or Parent or any of its Subsidiaries primarily regarding terrorism or
money laundering, including Executive Order No. 13224, the PATRIOT Act, the Bank Secrecy Act, the Money Laundering Control Act
of 1986 (i.e., 18 USC. §§ 1956 and 1957), the Laws administered by OFAC, and all Laws comprising or implementing these
Laws.

 

“Applicable
Commitment Fee Percentage” means 0.50%, per annum.

 

“Applicable
Margin” means (i) for Revolving Loans that are Base Rate Loans, 4.25%, per annum, (ii) for Revolving Loans that are
Eurodollar Loans, 5.25%, per annum, (iii) for Swing Line Loans, 4.25%, per annum, (iv) for Initial Term Loans that are Base Rate
Loans, 4.25%, per annum, (v) for Initial Term Loans that are Eurodollar Loans, 5.25%, per annum, and (vi) for Extended Revolving
Loans, Permitted Refinancing Revolving Loans, Incremental Revolving Loans, Incremental Term Loans, Extended Term Loans or Permitted
Refinancing Term Loans, in each case, as set forth in the applicable Extension Amendment, Joinder Agreement or Permitted Refinancing
Amendment.

 

“Approved
Fund” means any Fund that is administered or managed by (i) a Lender, (ii) an Affiliate of a Lender or (iii)
an entity or an Affiliate of an entity that administers or manages a Lender.

 

“Asset
Swap” means any transaction or series of related transactions pursuant to which Parent or any one or more Restricted
Subsidiaries thereof exchanges, with a Person other than Parent or another such Restricted Subsidiary, one or more Related Business
Assets owned by them for one or more Related Business Assets owned by third parties; provided that in any Asset Swap no more than
25% of the assets so disposed of by Parent or any such Restricted Subsidiary and no more than 25% of the assets received by Parent
or any such Restricted Subsidiary shall consist of current assets.

 

“Assignment
and Assumption” means an assignment and assumption entered into by a Lender and an Eligible Assignee (with the consent
of any party whose consent is required by Section 10.6(b)(iii)), and accepted by the Administrative Agent, in substantially the
form of Exhibit E or any other form approved by the Administrative Agent.

 

“Assignment
of Insurances” means an assignment of insurances with respect to the Mortgaged Vessels, which shall be in a form reasonably
satisfactory to the Collateral Agent, granted by one or more of the Credit Parties in favor of the Collateral Agent.

 

“Authorized
Officer” means, as applied to any Person, any individual holding the position of chairman of the board (if an officer),
chief executive officer, president or one of its vice presidents (or the equivalent thereof), chief financial officer or treasurer,
secretary or assistant secretary; provided, at the Administrative Agent’s election, no individual shall be deemed
to be an “Authorized Officer” of any Person unless and until the Administrative Agent shall have received an incumbency
certificate as to the office of such individual with respect to such Person. 

 

    	 	3	 

     

    

 

“Available
Amount” means as of any date of determination, an amount (which shall not be less than zero), determined on a cumulative
basis, equal to $25,000,000, plus, without duplication:

 

(A)
the cumulative amount of Consolidated Excess Cash Flow for all Fiscal Years (commencing with the Fiscal Year ending on December
31, 2019) ending prior to such date that is not required to be applied to the prepayment of the Loans pursuant to Section 2.14(c)
(minus any amount excluded from Consolidated Excess Cash Flow for any Fiscal Year pursuant to Section 2.14(h)) (or $0 if
such amount would be a negative amount); plus

 

(B)
the sum of:

 

(i)
the cumulative amount of (a) all net proceeds of the issuance of Equity Interests (other than Disqualified Equity Interests) of
Parent received in cash or Cash Equivalents and (b) all cash and Cash Equivalents that have been received by a Borrower as a capital
contribution, in each case, after the Closing Date and on or prior to the date of such determination and Not Otherwise Applied
and excluding any amount designated as a Cure Amount, plus

 

(ii)
the cumulative amount of (a) all Returns actually received in cash or Cash Equivalents by Parent or any of its Restricted Subsidiaries
and (b) all Net Cash Proceeds received by Parent or any of its Restricted Subsidiaries from the Disposition of any Investment
to the extent not required to be used to prepay the Obligations after the Closing Date and on or prior to the date of such determination
in respect of all Investments permitted hereunder, in each case, to the extent such Investment was originally funded with and
in reliance on the Available Amount, up to the amount of such original Investment, plus

 

(iii)
(x) the cumulative amount of all Investments in Unrestricted Subsidiaries that have been re-designated as Restricted Subsidiaries
or that have been merged or consolidated with or into Parent or any of its Restricted Subsidiaries, in each case, to the extent
such Investment was originally funded with and in reliance on the Available Amount, up to the lesser of (a) the Fair Market Value
of such Investments at the time of such re-designation or merger or consolidation and (b) the Fair Market Value as of the original
date of such Investments and (y) the Fair Market Value of the assets of any Unrestricted Subsidiaries that have been transferred
to Parent or any of its Restricted Subsidiaries on or prior to the date of such determination, plus

 

(iv)
the cumulative amount of all Declined Proceeds retained by the Borrowers on or prior to the date of such determination; minus

 

(C)
the sum of:

 

(i)
the cumulative amount of all repayments, redemptions, purchases, defeasances and other payments in respect of any Junior Financing
made after the Closing Date and on or prior to the date of such determination to the extent funded in reliance on Section 6.3(b)(i),
plus

 

(ii)
the cumulative amount of all Restricted Payments made after the Closing Date and on or prior to the date of such determination
to the extent funded in reliance on Section 6.4(d)(ii); plus

 

(iii)
the cumulative amount of all Investments made after the Closing Date and on or prior to the date of such determination to the
extent funded in reliance on Section 6.6(t).

 

    	 	4	 

     

    

 

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

 

“Bail-In
Legislation” means, with respect to any EEA Member Country implementing Article 55 of Directive 2014/59/EU of the European
Parliament and of the Council of the European Union, the implementing law for such EEA Member Country from time to time which
is described in the EU Bail-In Legislation Schedule.

 

“Bankruptcy
Code” means Title 11 of the United States Code entitled “Bankruptcy,” as now and hereafter in effect, or
any successor statute.

 

“Base
Rate” means, for any day, a rate per annum equal to the greatest of (i) the Prime Rate in effect on such day, (ii) the
sum of (a) the Federal Funds Effective Rate in effect on such day, plus (b) 1⁄2 of 1.00%, and (iii) the sum of (a)
the Adjusted Eurodollar Rate for an Interest Period of one month at approximately 11:00 a.m. London time on such day (or if such
day is not a Business Day, the immediately preceding Business Day), plus (b) 1.00%. Any change in the Base Rate due to
a change in the Prime Rate, the Federal Funds Effective Rate or the Adjusted Eurodollar Rate, as the case may be, shall be effective
on the effective day of such change in the Prime Rate, the Federal Funds Effective Rate or the Adjusted Eurodollar Rate, as applicable.

 

“Base
Rate Loan” means a Loan bearing interest at a rate determined by reference to the Base Rate.

 

“Beneficial
Ownership Certification” means a certification regarding beneficial ownership as required by the Beneficial Ownership
Regulation.

 

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

 

“Beneficiary”
means each Agent, each Issuing Bank, each Lender, each Eligible Counterparty and each Cash Management Bank.

 

“BNP
Paribas” as defined in the preamble hereto.

 

“Board
of Directors” means, with respect to any Person, (i) in the case of any corporation, the board of directors of such
Person, (ii) in the case of any limited liability company, the board of managers or managing members of such Person, (iii) in
the case of any partnership, the general partners of such partnership (or the board of directors of the general partner of such
Person, if any) and (iv) in any other case, the functional equivalent of the foregoing.

 

“Board
of Governors” means the Board of Governors of the United States Federal Reserve System.

 

“Borrower”
and “Borrowers” as defined in the preamble hereto.

 

“Bona
Fide Debt Fund” means any Person that is generally engaged in making, purchasing, holding or otherwise investing in
commercial loans and similar extensions of credit in the ordinary course of business which is managed, sponsored or advised by
any Person Controlling. Controlled by or under common Control with (a) any competitor of Parent and/or any of its Subsidiaries
or (b) any Affiliate of such competitor, but with respect to which no personnel involved with any investment in such competitor
or Affiliate (i) makes, has the right to make or participates with others in making any investment decisions with respect to such
Person or (ii) has access to any information (other than information that is publicly available) relating to Parent or its Subsidiaries
or any entity that forms a part of the business of Parent or any of its Subsidiaries.

 

    	 	5	 

     

    

 

“Borrower
Representative” as defined in Section 2.28.

 

“Business
Day” means (i) any day excluding Saturday, Sunday and any day which is a legal holiday under the Laws of the State of
New York or is a day on which banking institutions located in such state are authorized or required by Law or other governmental
action to close and (ii) with respect to all notices, determinations, fundings and payments in connection with the Adjusted Eurodollar
Rate or any Eurodollar Loans, the term “Business Day” shall mean any day which is a Business Day described in clause
(i) and which is also a day for trading by and between banks in Dollar deposits in the London interbank market.

 

“Business
Disposition” means the disposition of the outstanding Equity Interests of a Restricted Subsidiary or of the assets comprising
a division or business unit or a substantial part of all of the business of Parent and its Restricted Subsidiaries, taken as a
whole.

 

“Capital
Lease” means, as applied to any Person, any lease of any property (whether real, personal or mixed) by that Person as
lessee that, in conformity with GAAP, is or is required to be accounted for as a capital lease on the balance sheet of that Person.

 

“Cash
Collateralize” means to pledge and deposit with or deliver to the Administrative Agent, for the benefit of the Administrative
Agent, an Issuing Bank or the Swing Line Lender (as applicable) and the Lenders, as collateral for the Letter of Credit Obligations,
Obligations in respect of Swing Line Loans, or obligations of Lenders to fund participations in respect of either thereof (as
the context may require), cash or deposit account balances or, if an Issuing Bank or Swing Line Lender benefitting from such collateral
shall agree in its reasonable discretion, other credit support, in each case pursuant to documentation in form and substance reasonably
satisfactory to (i) the Administrative Agent and (ii) an Issuing Bank or the Swing Line Lender (as applicable). “Cash Collateral”
shall have a meaning correlative to the foregoing and shall include the proceeds of such cash collateral and other credit support.
“Cash Collateralization” shall have a meaning correlative to the foregoing.

 

“Cash
Equivalents” means, as at any date of determination, any of the following: (i) marketable securities (a) issued or directly
and unconditionally guaranteed as to interest and principal by the United States Government or (b) issued by any agency of the
United States the obligations of which are backed by the full faith and credit of the United States, in each case maturing within
twenty-four months after such date; (ii) marketable direct obligations issued by any state of the United States of America or
any political subdivision of any such state or any public instrumentality thereof, in each case maturing within one year after
such date and having, at the time of the acquisition thereof, a rating of at least A 1 from S&P or at least P 1 from Moody’s
and Indebtedness or preferred stock issued by Persons with a rating of A 1 from S&P or at least P 1 from Moody’s; (iii)
commercial paper maturing no more than twenty-four months from the date of creation thereof and having, at the time of the acquisition
thereof, a rating of at least A 1 from S&P or at least P 1 from Moody’s; (iv) certificates of deposit or bankers’
acceptances maturing within one year after such date and issued or accepted by any Lender or by any commercial bank organized
under the Laws of the United States of America or any state thereof or the District of Columbia that (a) is at least “adequately
capitalized” (as defined in the regulations of its primary Federal banking regulator) and (b) has Tier 1 capital (as defined
in such regulations) of not less than $1,000,000,000; and (v) shares of any money market mutual fund or other investment fund
that (a) has at least 90% of its assets invested in the types of investments referred to in clauses (i) through (iv) above, (b)
has net assets of not less than $5,000,000,000, and (c) has the highest rating obtainable from either S&P or Moody’s.
In the case of Investments by any Foreign Subsidiary or Investments made in a country outside the United States, Cash Equivalents
shall also include (i) Investments of the type and maturity described in clauses (i) through (v) above of foreign obligors, which
Investments or obligors (or the parents of such obligors) have ratings described in such clauses or equivalent ratings from comparable
foreign rating agencies and (ii) other short-term investments utilized by Foreign Subsidiaries in accordance with normal investment
practices for cash management in investments analogous to the foregoing investments.

 

    	 	6	 

     

    

 

“Cash
Management Agreement” means any agreement entered into between a Credit Party and a Cash Management Bank, provided,
such agreement has been expressly designated by the Borrower Representative and such Cash Management Bank as a “Cash Management
Agreement” hereunder in writing to the Administrative Agent.

 

“Cash
Management Bank” means the Administrative Agent, any Affiliate of the Administrative Agent, any Lender and any Affiliate
of any Lender, in each case, at the time it provides any Cash Management Product.

 

“Cash
Management Obligations” means the obligations of a Credit Party pursuant to any Cash Management Agreement, provided
such obligations have been expressly designated by the Borrower Representative in writing to the Administrative Agent as “Cash
Management Obligations” hereunder.

 

“Cash
Management Product” means any of the following services provided to a Credit Party by a Cash Management Bank: (i) credit
cards for commercial customers (including, without limitation, commercial credit cards and purchasing cards), (ii) stored value
cards and (iii) treasury management services (including controlled disbursement, automated clearinghouse transactions, return
items, overdrafts and interstate depository network services).

 

“Casualty/Condemnation
Event” means any event that that constitutes (i) a covered loss under an insurance policy that covers or purports to
cover the asset subject thereto or (ii) a taking of any assets of Parent or any of its Restricted Subsidiaries by any Person pursuant
to the power of eminent domain, condemnation or the like, or pursuant to a sale of any such assets to a purchaser with such power
under threat of such a taking.

 

“Change
in Law” means the occurrence, after the date of this Agreement, of any of the following: (i) the adoption or taking
effect of any law, rule, regulation or treaty, (ii) any change in any law, rule, regulation or treaty or in the administration,
interpretation, implementation or application thereof by any Governmental Authority or (iii) the making or issuance of any
request, rule, guideline or directive (whether or not having the force of law) by any Governmental Authority; provided,
notwithstanding anything herein to the contrary, (x) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests,
rules, guidelines or directives thereunder or issued in connection therewith and (y) all requests, rules, guidelines or directives
promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar
authority) or the United States or foreign regulatory authorities, in each case pursuant to Basel III, shall in each case be deemed
to be a “Change in Law”, regardless of the date enacted, adopted or issued.

 

“Change
of Control” means any of the following:

 

(i)
at any time prior to consummation of a Qualified IPO, the Sponsor and its Controlled Investment Affiliates (collectively) shall
cease to beneficially own and control, directly or indirectly, on a fully diluted basis (a) more than 50% on a fully diluted basis
of the economic and voting interests in the Equity Interests of Parent; or (b) a sufficient number of the issued and outstanding
voting interests in the Equity Interests of Parent to have and exercise voting power for the election of members holding a majority
of the voting power of the Board of Directors of Parent; or

 

    	 	7	 

     

    

 

(ii)
at any time upon or after consummation of a Qualified IPO, any Person or “group” (within the meaning of Rules 13d-3
and 13d-5 under the Exchange Act, or any successor provision) other than the Sponsor and its Controlled Investment Affiliates
(a) shall have acquired beneficial ownership of 35% or more on a fully diluted basis of the voting and/or economic interest in
the Equity Interests of the Relevant Public Company or (b) shall have obtained the power (whether or not exercised) to elect a
majority of the members of the Board of Directors of the Relevant Public Company; or

 

(iii)
Parent shall cease to own and control 100% on a fully diluted basis of the economic and voting interest in the Equity Interests
of any of the Holding Companies, other than pursuant to, or as results from, a transaction not prohibited by Section 6.8; or

 

(iv)
any Holding Company shall cease to beneficially own and control 100% on a fully diluted basis of the economic and voting interest
in the Equity Interests of any of the Borrowers, other than pursuant to, or as results from, a transaction not prohibited by Section
6.8; or

 

(v)
a “change of control” or similar event shall occur under any Junior Financing that constitutes Material Indebtedness.

 

For
purposes of this definition, a Person shall not be deemed to have beneficial ownership of Equity Interests subject to a stock
purchase agreement, merger agreement or similar agreement until the consummation of the acquisition contemplated by such agreement.

 

“Class”
means (i) with respect to the Lenders, each of the following classes of Lenders: (a) with respect to each Term Loan Facility,
the Lenders having Term Loan Exposure under such Term Loan Facility, and (b) the Revolving Lenders (including the Swing Line Lender),
and (ii) with respect to Loans, each of the following classes of Loans: (a) with respect to each Term Loan Facility, the Term
Loans outstanding under such Term Loan Facility, and (b) Revolving Loans (including Swing Line Loans).

 

“Closing
Date” means, subject to Section 3.1, the date hereof.

 

“Closing
Date Certificate” means a Closing Date Certificate substantially in the form of Exhibit F or otherwise in form
reasonably acceptable to the Administrative Agent.

 

“Closing
Date Consolidated First Lien Net Leverage Ratio” means 3.90 to 1.00.

 

“Closing
Date Consolidated Total Net Leverage Ratio” means 3.90 to 1.00.

 

“Closing
Date Contribution” means the combination under Parent of NRC Holdings and its Subsidiaries and Sprint Holdings and its
Subsidiaries.

 

“Closing
Date Contribution Agreement” means the Joint Contribution and Subscription Agreement, dated as of June 10, 2018, by
and among JFL-NRC Partners, LLC, JFL-SES Partners, LLC and JFL-NRC-SES Partners, LLC.

 

“Closing
Date Contribution Documents” means, collectively, (a) the Closing Date Contribution Agreement and (b) the limited liability
company agreement of Parent.

 

    	 	8	 

     

    

 

“Closing
Date Mortgaged Property” as defined in Section 5.12(a).

 

“Code”
means the Internal Revenue Code of 1986.

 

“Collateral”
means, collectively, all of the real, personal and mixed property (including Equity Interests and the Mortgaged Vessels) in
which Liens are purported to be granted pursuant to the Collateral Documents as security for the Obligations, but excluding any
Excluded Assets.

 

“Collateral
Agent” as defined in the preamble hereto.

 

“Collateral
Documents” means the Pledge and Security Agreement, the Mortgages, if any, the Vessel Mortgages, the Landlord Waiver
and Consent Agreements, if any, the Intellectual Property Security Agreements, if any, the Assignments of Insurances and all other
instruments, documents and agreements delivered by or on behalf or at the request of any Credit Party pursuant to this Agreement
or any of the other Credit Documents to grant to, or perfect in favor of, the Collateral Agent, for the benefit of the Secured
Parties, a Lien on any real, personal or mixed property of that Credit Party as security for the Obligations.

 

“Commitment”
means a Revolving Credit Commitment, Initial Term Loan Commitment, Incremental Revolving Credit Commitment, Incremental Term
Loan Commitment, Extended Term Loan Commitment, Extended Revolving Credit Commitment, or a Permitted Refinancing Commitment.

 

“Commodity
Exchange Act” means the Commodity Exchange Act (7 U.S.C. §1 et. seq.) and any rule, regulation or order promulgated
thereunder, as amended from time to time and any successor statute.

 

“Communications”
as defined in Section 10.1(d)(ii).

 

“Compliance
Certificate” means a Compliance Certificate substantially in the form of Exhibit C-1 or otherwise in form reasonably
acceptable to the Administrative Agent.

 

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

 

“Consolidated
Adjusted EBITDA” means, for any period, an amount determined for Parent and its Restricted Subsidiaries (or, when reference
is made to another Person, for such other Person and its Subsidiaries) on a consolidated basis equal to:

 

(A)
Consolidated Net Income for such period; plus

 

(B)
to the extent deducted in determining Consolidated Net Income for such period (or, with respect to clauses (B)(x) and (B)(xi),
to the extent reducing costs and expenses that are deducted), the sum (without duplication) of:

 

(i)
total interest expense (including amortization, write-down or write off of deferred financing cost and original issue discount),
all commissions, discounts and other fees and charges owed with respect to letters of credit, and net costs under Swap Contracts;
plus

 

(ii)
total tax expense for taxes based on income, profits or capital gains; plus

 

(iii)
total depreciation expense; plus

 

(iv)
total amortization expense; plus

 

    	 	9	 

     

    

 

(v)
other non-cash charges, write-downs, expenses, losses or other items reducing Consolidated Net Income for such period (including
(x) non-cash charges related to any underfunded Pension Plans and (y) any impairment charges and the impact of purchase accounting,
but excluding (other than as result from the application or impact of purchase accounting) any such non-cash charge, write down
or item to the extent that it represents an accrual or reserve for potential cash charges in any future period or amortization
of a prepaid cash charge or a write-down of accounts or inventory that was, in either case, paid in a prior period); plus

 

(vi)
Transaction Costs; plus

 

(vii)
amounts (x) paid or accrued to the Sponsor and its Affiliates under the Management Agreement to the extent permitted pursuant
to Section 6.11(e) or (y) paid in respect of matters discussed in, or permitted by, Section 6.11(b) (other than to employees);
plus

 

(viii)
any costs or expenses incurred pursuant to any management equity plan or stock option plan or any other management or employee
benefit plan or agreement or any stock subscription or shareholder agreement, to the extent that such costs or expenses are funded
with cash proceeds contributed to the capital of Parent or a Borrower or net cash proceeds of an issuance of Equity Interests
of Parent or a Borrower (other than Disqualified Equity Interests); plus

 

(ix)
accruals, fees, payments and expenses (including legal, tax, structuring and other costs and expenses) incurred by Parent or any
of its Restricted Subsidiaries in connection with the Progressive Acquisition and any actual or contemplated but not consummated
SPAC Transaction, Permitted Acquisition or other Investment, Disposition, Swap Contract or debt or equity issuance or any refinancing
transactions or amendment or other modification of any debt agreement that are payable to unaffiliated third parties, in each
case, incurred for such period to the extent attributable to any such transaction (regardless of whether consummated); plus

 

(x)
charges, losses, costs, expenses and reserves (including fees, charges and disbursements of counsel, accountants and other professionals)
in respect of severance, restructuring, integration or similar charges incurred during such period in respect of restructurings,
plant closings, product portfolio rationalization, headcount reductions or other similar actions, including relocation costs,
business process optimizations, integration costs, signing costs, retention or completion bonuses, employee replacement costs,
portfolio rationalization and/or normalization related inventory writeoffs and/or writedowns, transition costs (including costs
regarding information technology, financial systems and controls, permitting and compliance and replacement of transition services
in respect of the Progressive Acquisition or any Permitted Acquisition), costs related to opening, closure and/or consolidation
of facilities, severance charges in respect of employee terminations, start-up losses related to new business ventures, costs
incurred to achieve savings added back to Consolidated Adjusted EBITDA under clause (xi) below; plus

 

    	 	10	 

     

    

 

(xi)
(A) unusual, one-time or non-recurring charges, losses, costs, expenses and reserves and (B) the amount of “run rate”
cost savings, operating expense reductions, operational improvements and synergies projected by Parent in good faith to result
from actions either taken or initiated prior to or during such period (including prior to the Closing Date) in connection with
the Closing Date Contribution, the Progressive Acquisition, any Permitted Acquisition, investment, Disposition, other divestiture,
operating improvement, restructuring, cost savings initiative or similar initiative, if Parent in good faith expects to realize
such “run rate” cost savings, operating expense reductions, operational improvements or synergies within 24 months
of the date of such event or action (collectively, “Pro Forma Cost Savings”), it being understood that such
“run rate” cost savings, operating expense reductions, operational improvements and synergies shall be added to Consolidated
Adjusted EBITDA until Parent no longer expects in good faith to realize such cost savings, operating expense reductions, operational
improvements and synergies and that, if “run rate” cost savings, operating expense reductions, operational improvements
and synergies are included in any pro forma calculations based on such actions, then on and after the date that is 24 months after
the date of such Permitted Acquisition, investment, Disposition, other divestiture, operating improvement, restructuring, cost
savings initiative or similar initiative, such pro forma calculations shall no longer give effect to such cost savings to the
extent that realization did not actually occur during such 24 month period; provided, (a) such cost savings and synergies
shall be calculated net of the amount of actual benefits realized during such period from such actions, (b) such cost savings
and synergies are reasonably identifiable and are disclosed to the Administrative Agent pursuant to a certificate of an Authorized
Officer of Parent prior to or at the time of addition thereof to Consolidated Adjusted EBITDA, (c) no cost savings or synergies
shall be added to Consolidated Adjusted EBITDA pursuant to this clause (xi) to the extent duplicative of any expenses or charges
relating to such cost savings or synergies that are otherwise included in this clause (B) or in the definition of the term “Pro
Forma Basis”, and (d) in no event shall the aggregate amount added to Consolidated Adjusted EBITDA under this clause (xi)
for any Test Period exceed 20% of Consolidated Adjusted EBITDA of Parent and its Restricted Subsidiaries in such Test Period (calculated
prior to giving effect to any adjustment pursuant to this clause (xi)); plus

 

(xii)
to the extent not already included in Consolidated Net Income, proceeds of business interruption insurance received in cash during
such period or that Parent in good faith expects to be received within 365 days after the end of such period to the extent not
accrued; provided, (a) if such proceeds are not so received within such one year period, they shall be subtracted in the
subsequent calculation period and (b) if received in a subsequent period, such proceeds shall not be added back in calculating
Consolidated Adjusted EBITDA in such subsequent period; plus

 

(xiii)
charges, losses, expenses or reserves to the extent (in the case of reserves, the matter reserved against) indemnified or insured
or reimbursed by an unaffiliated third party to the extent such indemnification, insurance or reimbursement is actually received
in cash for such period, or Parent reasonably expects to be so paid or reimbursed within 365 days after the end of such period
to the extent not accrued (plus, in the case of any such insured amounts, an amount equal to the amount of any deductible); provided,
(a) if such amount is not so reimbursed or received within such one year period, such expenses or losses shall be subtracted in
the subsequent calculation period and (b) if reimbursed or received in a subsequent period, such amount shall not be added back
in calculating Consolidated Adjusted EBITDA in such subsequent period; minus

 

(C)
to the extent included in determining Consolidated Net Income for such period (without duplication), any non-cash charges previously
added-back to determine Consolidated Adjusted EBITDA pursuant to clause (B)(v) above to the extent that, during such period such
non-cash charges have become cash charges.

 

    	 	11	 

     

    

 

The
parties hereto agree that (a) Consolidated Adjusted EBITDA for the Fiscal Quarter ending on (i) September 30, 2017 shall be deemed
to be $21,147,224, (ii) December 31, 2017 shall be deemed to be $23,442,687 and (iii) March 31, 2018, shall be deemed to be $17,539,067,
and (b) Consolidated Adjusted EBITDA for the portion of the Fiscal Quarter ending June 30, 2018 prior to and including the Closing
Date shall be calculated in good faith by Parent in a manner consistent with the methodology used to calculate the deemed Consolidated
Adjusted EBITDA amounts provided in clause (a) of this paragraph.

 

For
purposes of calculating Consolidated Adjusted EBITDA for any period, (A) if at any time during such period Parent or any of its
Restricted Subsidiaries shall have made any Business Disposition, Consolidated Adjusted EBITDA for such period shall be reduced
by an amount equal to the Consolidated Adjusted EBITDA (if positive) attributable to the Equity Interests or the assets, as applicable,
that is the subject of such Business Disposition for such period or increased by an amount equal to the Consolidated Adjusted
EBITDA (if negative) attributable thereto for such period as if such Business Disposition occurred on the first day of such period,
giving effect only to such pro forma adjustments determined by Parent in good faith as are consistent with SEC Regulation S-X,
and (B) if during such period Parent or any of its Restricted Subsidiaries shall have made a Permitted Acquisition or any other
permitted Investment or designated an Unrestricted Subsidiary as a Restricted Subsidiary, the Consolidated Adjusted EBITDA for
such period shall be increased by an amount equal to the Consolidated Adjusted EBITDA of the Person(s) or business(es) so acquired
or such newly designated Restricted Subsidiary for such period (as reasonably determined in good faith by Parent) or otherwise
calculated after giving pro forma effect thereto as if such Permitted Acquisition or other permitted Investment or designation
of an Unrestricted Subsidiary as a Restricted Subsidiary occurred on the first day of such period, giving effect only to such
pro forma adjustments determined by Parent in good faith as are consistent with SEC Regulation S-X and all Pro Forma Cost Savings
attributable to such Permitted Acquisition or other permitted Investment or designation of an Unrestricted Subsidiary as a Restricted
Subsidiary that have been added back to Consolidated Net Income in accordance with the terms hereof.

 

“Consolidated
Capital Expenditures” means, for any period, the aggregate of all expenditures (whether paid in cash or accrued as a
liability and including any expenditures of Capital Leases) of Parent and its Restricted Subsidiaries during such period determined
on a consolidated basis that, in accordance with GAAP, are or are required to be included in “purchase of property and equipment”
or similar items reflected in the consolidated statement of cash flows of Parent and its Restricted Subsidiaries; provided,
(a) the purchase price of assets that are purchased substantially simultaneously with the trade-in of existing assets or with
insurance proceeds shall be included in Consolidated Capital Expenditures only to the extent of the gross amount by which such
purchase price exceeds the credit granted by the seller of such assets for the assets being traded in at such time or the amount
of such insurance proceeds, as the case may be and (b) Consolidated Capital Expenditures shall not include any such expenditure
(i) to the extent made with Net Cash Proceeds invested pursuant to Section 2.14(a), (ii) for any asset acquired in exchange for
an existing asset (but only to the extent of the value of such existing asset), (iii) that constitutes or otherwise is in respect
of assets acquired in a Permitted Acquisition, or (iv) financed with cash proceeds from Equity Interests permitted hereunder (other
than Permitted Cure Securities).

 

“Consolidated
Excess Cash Flow” means, for any period, an amount (if positive) equal to:

 

(A)
the sum (without duplication) of:

 

(i)
Consolidated Net Income for such period, plus

 

(ii)
total non-cash interest expense (including amortization, write-down or write off of deferred financing cost and original issue
discount) for such period; plus

 

    	 	12	 

     

    

 

(iii)
total expense for taxes of Parent and its Restricted Subsidiaries based on income, profits or capital gains for such period; plus

 

(iv)
the aggregate amount of non-cash charges reducing Consolidated Net Income for such period, including for depreciation and amortization
(but excluding any such non-cash charge to the extent that it represents an accrual or reserve for potential cash charge in any
future period or amortization of a prepaid cash charge that was paid in a prior period), plus

 

(v)
the decrease, if any, in Consolidated Working Capital for such period; plus

 

(vi)
any net extraordinary, unusual or non-recurring cash gain that has been excluded from the calculation of Consolidated Net Income
for such period pursuant to the definition thereof; minus

 

(B)
the sum (without duplication) of:

 

		(i)	total expense for taxes of Parent and its Restricted Subsidiaries based on income, profits or capital
gains paid or payable in cash for such period, including franchise and similar taxes, and foreign withholding taxes of such Person;
plus

 

		(ii)	without duplication of amounts deducted from Consolidated Excess Cash Flow in prior periods or
in such period, to the extent set forth in a certificate of an Authorized Officer of Parent delivered to the Administrative Agent
at or before the time the Compliance Certificate for the period ending simultaneously with such period is required to be delivered
pursuant to Section 5.1(c), the aggregate amount Parent anticipates will likely be required to be paid in cash in respect of taxes
of Parent and its Restricted Subsidiaries, plus the aggregate amount of tax distributions Parent anticipates it will likely make
in cash, during the six months immediately following such period (such sum, the “Anticipated Tax Liability”);
provided that to the extent the aggregate amount of taxes actually so made and tax distributions actually so paid during
such six-month period is less than the Anticipated Tax Liability, the amount of such shortfall shall be added to Consolidated Excess
Cash Flow for the period following such period;

 

		(iii)	the aggregate amount of all principal payments, prepayments or repurchases of Indebtedness (but
in respect of any revolving credit facility, only to the extent there is an equivalent permanent reduction in commitments thereunder),
including principal payments, prepayments or repurchases of obligations under Capital Leases (excluding any interest expense portion
thereof), in each case, paid from Internally Generated Cash during such period, other than voluntary payments, prepayments or repurchases
of the Loans or any Incremental Equivalent Debt secured on a pari passu basis with the Obligations; plus

  

    	 	13	 

     

    

 

		(iv)	the aggregate amount of any premium, make whole or penalty payments actually paid from Internally
Generated Cash during such period that are required to be made in connection with any prepayment or satisfaction and discharge
of Indebtedness, other than in connection with any voluntary payments, prepayments or repurchases of the Loans or any Incremental
Equivalent Debt secured on a pari passu basis with the Obligations, to the extent that the amount so paid has not already been
deducted (whether in determining Consolidated Net Income or otherwise) in determining Excess Cash Flow for that, or any prior,
period; plus

 

		(v)	the aggregate amount of Consolidated Capital Expenditures (and capital expenditures excluded from
the definition thereof) paid from Internally Generated Cash during such period; plus

 

		(vi)	the aggregate amount of Restricted Payments paid in accordance with Section 6.4(c) or 6.4(d)(i)
from Internally Generated Cash during such period and not otherwise deducted in the determination of Consolidated Net Income for
such period; plus

 

		(vii)	the aggregate amount of Permitted Acquisition Consideration, including any payments with respect
to Seller Notes and any Earn-out Indebtedness, and consideration in respect of other Investments permitted pursuant to Sections
6.6(q)(iv), 6.6(r)(v), 6.6(s) or 6.6(u) paid from Internally Generated Cash during such period; plus

 

		(viii)	the increase, if any, in Consolidated Working Capital for such period; plus

 

		(ix)	any net extraordinary, unusual one-time or non-recurring cash loss that has been excluded from
the calculation of Consolidated Net Income for such period pursuant to the definition thereof; plus

 

		(x)	the aggregate amount of non-cash gains or credits increasing Consolidated Net Income for such period
(but excluding any such non-cash gain to the extent it represents the reversal of an accrual or reserve for potential cash gain
in any prior period); plus

 

		(xi)	without duplication of amounts deducted from Consolidated Excess Cash Flow in prior periods, the
aggregate consideration required to be paid in cash by Parent and its Restricted Subsidiaries pursuant to binding contracts with
third parties that are not Affiliates (the “Contract Consideration”) entered into prior to or during such period
relating to acquisitions and Investments permitted under this Agreement or Capital Expenditures, in each case, to the extent expected
to be consummated or made during the period of four consecutive fiscal quarters of Parent following the end of such period; provided,
to the extent the aggregate amount of Internally Generated Cash actually utilized to finance such acquisitions, Investments or
Capital Expenditures during such period of four consecutive fiscal quarters is less than the Contract Consideration, the amount
of such shortfall shall be added to the calculation of Excess Cash Flow for the next succeeding period.

  

As
used herein, “Internally Generated Cash” means, with respect to any period, any cash or Cash Equivalents of
Parent or any of its Restricted Subsidiaries generated during such period, including any Net Cash Proceeds (but solely to the
extent such Net Cash Proceeds are included in the calculation of Consolidated Net Income for such period), other than any cash
or Cash Equivalents that are the proceeds of (a) any incurrence of Indebtedness (other than Revolving Loans or Swing Line Loans),
(b) any issuance of Equity Interests or (c) any contribution of capital.

 

    	 	14	 

     

    

 

“Consolidated
First Lien Net Debt” means, as at any date of determination, an amount equal to (i) Consolidated Total Net Debt as of
such date, minus (ii) Consolidated Total Debt that is secured on a junior basis to the Obligations as of such date, minus
(iii) Consolidated Total Debt that is unsecured as of such date.

 

“Consolidated
First Lien Net Leverage Ratio” means the ratio as of the last day of the date of determination of (x) Consolidated First
Lien Net Debt as of such date, to (y) Consolidated Adjusted EBITDA for the then most recently ended Test Period.

 

“Consolidated
Net Income” means, for any period, an amount equal to the net income (or loss) of Parent and its Restricted Subsidiaries
on a consolidated basis for such period taken as a single accounting period determined in conformity with GAAP; provided,
the following shall (to the extent otherwise included therein and without duplication) be excluded in determining Consolidated
Net Income for such period:

 

(i)
the income or loss of any Person in which any other Person (other than Parent or any of its wholly owned Restricted Subsidiaries)
has a joint interest, except to the extent of the amount of dividends or other distributions actually paid to Parent or any of
its wholly owned Restricted Subsidiaries by such Person during such period;

 

(ii)
the income or loss of any Person accrued prior to the date it becomes a Restricted Subsidiary of Parent or is merged into or consolidated
with Parent or any of its Restricted Subsidiaries or that Person’s assets are acquired by Parent or any of its Restricted
Subsidiaries;

 

(iii)
the income of any Restricted Subsidiary of Parent (other than a Guarantor Restricted Subsidiary) to the extent that the declaration
or payment of dividends or similar distributions by such Restricted Subsidiary of that income is not at the time permitted by
operation of the terms of its Organizational Documents or any Contractual Obligations or pursuant to any Law applicable to that
Restricted Subsidiary;

 

(iv)
any after tax gain or loss attributable to Dispositions in excess of $50,000 outside of the ordinary course of business for such
period;

 

(v)
any after tax gain or loss attributable to returned surplus assets of any Pension Plan for such period;

 

(vi)
the income or loss of any Person for such period attributable to the early extinguishment of any Indebtedness or obligations under
any Swap Contracts or other derivative instruments;

 

(vii)
all foreign currency translation gains or losses to the extent such gains or losses are non-cash items;

 

(viii)
the cumulative effect of any change in accounting principles; and

 

    	 	15	 

     

    

 

(ix)
without duplication of any amount included in the foregoing clauses, any net extraordinary, unusual or non-recurring gain for
such period (provided, however, that for the avoidance of doubt any indemnification payments received by Parent or any of its
Restricted Subsidiaries pursuant to any acquisition documentation with respect to the Progressive Acquisition or any Permitted
Acquisition shall not be deemed extraordinary, unusual or non-recurring gains to the extent related to actual costs, losses or
expenses not excluded from Consolidated Net Income).

 

“Consolidated
Secured Net Debt” means, as at any date of determination, an amount equal to (i) Consolidated Total Net Debt as of such
date, minus (ii) the aggregate outstanding principal amount of unsecured Consolidated Total Debt as of such date.

 

“Consolidated
Secured Net Leverage Ratio” means the ratio as at any date of determination (x) Consolidated Secured Net Debt as of
such date, to (y) Consolidated Adjusted EBITDA for the then most recently ended Test Period.

 

“Consolidated
Total Assets” means, as of any date of determination, the consolidated total assets of Parent and its Restricted Subsidiaries
on the last day of the most recently ended Test Period.

 

“Consolidated
Total Debt” means, as at any date of determination, the aggregate stated balance sheet amount of all Indebtedness of
Parent and its Restricted Subsidiaries of the types described in clauses (i), (ii), (iii) (but only with respect to any notes
payable), (iv), (v) and (vi) (but only to the extent that any letter of credit, banker’s acceptance, bank guarantee, surety
bond, performance bond or similar instrument has been drawn and not reimbursed) of the definition of the term “Indebtedness”,
and with respect to any of the foregoing (without duplication) any guarantee thereof, in each case, determined on a consolidated
basis as of such date in accordance with GAAP; provided, in each case, (x) the effects of any discounting of Indebtedness
resulting from the application of acquisition accounting in connection with the Related Transactions or any acquisition permitted
hereunder shall be excluded and (y) any Indebtedness that is issued at a discount to its initial principal amount shall be calculated
based on the entire principal amount thereof.

 

“Consolidated
Total Net Debt” means, as at any date of determination, (x) Consolidated Total Debt, minus (y) the aggregate
amount of Consolidated Unrestricted Cash as of such date (excluding, however, prior to the making of the 2018 Dividend, the Dividend
Term Loan Proceeds).

 

“Consolidated
Total Net Leverage Ratio” means the ratio as at any date of determination of (x) Consolidated Total Net Debt as of such
day, to (y) Consolidated Adjusted EBITDA for the then most recently ended Test Period.

 

“Consolidated
Unrestricted Cash” means all cash and Cash Equivalents of Parent and its Restricted Subsidiaries that (i) does not appear
as “restricted” on the consolidated balance sheet of Parent (unless such appearance is related to the Liens created
under the Credit Documents, any documents evidencing or relating to any Incremental Facility or Incremental Equivalent Debt, any
documents evidencing or relating to any Extended Revolving Loans or any Extended Term Loans or any documents evidencing or relating
to any Permitted Refinancing Loans) and (ii) is not subject to any Lien in favor of any Person other than (a) the Collateral Agent
for the benefit of the Secured Parties, (b) Liens in favor of any collateral agent or other secured parties created under any
documents evidencing or relating to any Incremental Facility, Incremental Equivalent Debt, Extended Revolving Loans, Extended
Term Loans or any Permitted Refinancing Loans or (c) Permitted Encumbrances; it being agreed that cash or Cash Equivalents (a)
placed on deposit with a trustee to discharge or defease Indebtedness or (b) to the extent proceeds of Indebtedness incurred to
finance an acquisition and held in escrow pending the consummation of such acquisition to consummate such acquisition or prepay
such Indebtedness shall be considered unrestricted to the extent the related Indebtedness is included in Consolidated Total Debt.

 

    	 	16	 

     

    

 

“Consolidated
Working Capital” means, as at any date of determination, the excess of (i) the total assets of Parent and its Restricted
Subsidiaries on a consolidated basis that may properly be classified as current assets in conformity with GAAP, excluding cash
and Cash Equivalents, over (ii) the total liabilities of Parent and its Restricted Subsidiaries on a consolidated basis that may
properly be classified as current liabilities in conformity with GAAP (which may be a negative number), excluding without duplication,
(a) the current portion of any Indebtedness of Parent and its Subsidiaries for borrowed money that matures more than one year
from the date of its creation or matures within one year from such date that is renewable or extendable, at the option of such
Person, to a date more than one year from such date or arises under a revolving credit or similar agreement that obligates the
lender or lenders to extend credit during a period of more than one year from such date, including Indebtedness in respect of
the Loans, (b) all Indebtedness consisting of Revolving Loans, Swing Line Loans and Letter of Credit Obligations to the extent
otherwise included therein, (c) the current portion of interests, (d) the current portion of current and deferred income taxes,
(e) the current portion of any liability in respect of any Capital Lease or any other long term debt, (f) the current portion
of deferred revenue, (g) the current portion of deferred acquisition costs and (h) current accrued costs associated with any restructuring
or business optimization (including accrued severance and accrued facility closure costs). In calculating Consolidated Working
Capital there shall be excluded the effect of reclassification during the applicable period of current assets to long term assets
and current liabilities to long term liabilities and the effect of any Permitted Acquisition during such period; provided,
there shall be included with respect to any Permitted Acquisition during such period an amount (which may be a negative number)
by which the Consolidated Working Capital acquired in such Permitted Acquisition as at the time of such acquisition exceeds (or
is less than) Consolidated Working Capital at the end of such period.

 

“Contractual
Obligation” means, as applied to any Person, any provision of any Security issued by that Person or of any indenture,
mortgage, deed of trust, contract, undertaking, agreement or other instrument (other than a Credit Document or any documents evidencing
or relating to any Incremental Facility, Incremental Equivalent Debt, Extended Revolving Loans, Extended Term Loans or any Permitted
Refinancing Loans) to which that Person is a party or by which it or any of its properties is bound or to which it or any of its
properties is subject.

 

“Contributing
Guarantors” as defined in Section 7.2.

 

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

 

“Controlled
Foreign Corporation” means a “controlled foreign corporation” (within the meaning of Section 957 of the
Code) of which Parent or any of its Restricted Subsidiaries is a “United States shareholder” (within the meaning of
Section 951 of the Code).

 

“Controlled
Investment Affiliate” means, as applied to any Person, any other Person which directly or indirectly is in Control of,
is Controlled by, or is under common Control with, such Person and is organized by such Person (or any Person Controlling, Controlled
by or under common Control with such Person) primarily for making equity or debt investments in Parent or other portfolio companies
of such Person or has the same principal fund advisor as such Person.

 

“Conversion/Continuation
Date” means the effective date of a continuation or conversion, as the case may be, as set forth in the applicable Conversion/Continuation
Notice.

 

    	 	17	 

     

    

  

“Conversion/Continuation
Notice” means a Conversion/Continuation Notice substantially in the form of Exhibit A-2 or otherwise in form reasonably
acceptable to the Administrative Agent.

 

“Counterpart
Agreement” means a Counterpart Agreement substantially in the form of Exhibit G or otherwise in form reasonably
acceptable to the Administrative Agent.

 

“Credit
Date” means the date of a Credit Extension.

 

“Credit
Document” means any of this Agreement, the Notes, each Notice, each Counterpart Agreement, if any, the Collateral Documents,
each Intercreditor Agreement, each Joinder Agreement, each Extension Amendment and each Permitted Refinancing Amendment.

 

“Credit
Extension” means the making of a Loan or the issuing of a Letter of Credit.

 

“Credit
Party” means each Borrower, each Holding Company, Parent and each other Guarantor.

 

“Cure
Amount” as defined in Section 8.4(a).

 

“Cure
Right” as defined in Section 8.4(a).

 

“Cure
Right Fiscal Quarter” as defined in Section 8.4(b).

 

“Debt
Fund Affiliate” means an Affiliated Lender that (x) is a Person that is primarily engaged in, or advises funds or other
investment vehicles that are engaged in, making, purchasing, holding or otherwise investing in commercial loans, bonds and similar
extensions of credit in the ordinary course of business which is managed, sponsored or advised by any Person Controlling, Controlled
by or under common Control with Parent and/or any of its Restricted Subsidiaries and (y) is not an affiliated fund of Sponsor
that is primarily engaged in making control equity investments in portfolio companies.

 

“Debtor
Relief Laws” means the Bankruptcy Code, and all other liquidation, conservatorship, bankruptcy, assignment for the benefit
of creditors, moratorium, rearrangement, receivership, insolvency, reorganization, or similar debtor relief laws of the United
States or other applicable jurisdictions from time to time in effect.

 

“Declined
Proceeds” as defined in Section 2.15(d).

 

“Default”
means a condition or event that, after notice or lapse of time or both, would constitute an Event of Default.

 

“Default
Rate” means an interest rate equal to (i) in the case of overdue principal of or interest on any Base Rate Loan,
the Base Rate plus the then Applicable Margin applicable to such Class of Loans plus 2.00% per annum, (ii) in the
case of overdue principal of or interest on any Eurodollar Loan, the Adjusted Eurodollar Rate plus the then Applicable
Margin applicable to such Class of Loans plus 2.00% per annum and (iii) in the case of fees or any other amount, the Base
Rate plus the then Applicable Margin applicable to Revolving Loans plus 2.00% per annum, in each case, to the fullest
extent permitted by applicable Laws.

 

    	 	18	 

     

    

 

“Defaulting
Lender” means, subject to Section 2.22(b), any Lender that (i) has failed to (a) fund all or any portion of its Loans
within two (2) Business Days of the date such Loans were required to be funded hereunder or (b) pay to the Administrative Agent,
an Issuing Bank, the Swing Line Lender or any other Lender any other amount required to be paid by it hereunder (including in
respect of its participation in Letters of Credit or Swing Line Loans) within two (2) Business Days of the date when due, (ii)
has notified the Borrower Representative, the Administrative Agent or an Issuing Bank or Swing Line Lender in writing that it
does not intend to comply with its funding obligations hereunder, or has made a public statement to that effect, (iii) has failed,
within three (3) Business Days after written request by the Administrative Agent or the Borrower Representative, to confirm in
writing to the Administrative Agent and the Borrower Representative that it will comply with its prospective funding obligations
hereunder (provided, such Lender shall cease to be a Defaulting Lender pursuant to this clause (iii) upon receipt of such
written confirmation by the Administrative Agent and the Borrower Representative), or (iv) at any time after the Closing Date
has, or has a direct or indirect parent company that has, (a) become the subject of a proceeding under any Debtor Relief Law,
(b) had appointed for it a receiver, custodian, conservator, trustee, administrator, assignee for the benefit of creditors or
similar Person charged with reorganization or liquidation of its business or assets, including the Federal Deposit Insurance Corporation
or any other state or federal regulatory authority acting in such a capacity or (c) become the subject of a Bail-in Action; provided,
a Lender shall not be a Defaulting Lender solely by virtue of the ownership or acquisition of any equity interest in such Lender
or any direct or indirect parent company thereof by a Governmental Authority so long as such ownership interest does not result
in or provide such Lender with immunity from the jurisdiction of courts within the United States or from the enforcement of judgments
or writs of attachment on its assets or permit such Lender (or such Governmental Authority) to reject, repudiate, disavow or disaffirm
any contracts or agreements made with such Lender. Any determination by the Administrative Agent that a Lender is a Defaulting
Lender under clauses (i) through (iv) above shall be conclusive and binding absent manifest error, and such Lender shall be deemed
to be a Defaulting Lender (subject to Section 2.22(b)) upon delivery of written notice of such determination to the Borrower Representative,
each Issuing Bank, the Swing Line Lender and each Lender.

 

“Designated
Non-Cash Consideration” means the Fair Market Value of any non-cash consideration received by Parent or any of its Restricted
Subsidiaries in connection with a Disposition that is designated as Designated Non-Cash Consideration pursuant to a certificate
of an Authorized Officer of the Borrower Representative, setting forth the basis of such valuation, less the amount of cash received
in connection with any subsequent sale of such Designated Non-Cash Consideration.

 

“Disposition”
as defined in Section 6.9.

 

“Disqualified
Equity Interest” means any Equity Interest which, by its terms (or by the terms of any security or other Equity Interest
into which it is convertible or for which it is exchangeable), or upon the happening of any event or condition (i) matures or
is mandatorily redeemable (other than solely for Equity Interests that are not otherwise Disqualified Equity Interests), pursuant
to a sinking fund obligation or otherwise, (ii) is redeemable at the option of the holder thereof (other than solely for Equity
Interests that are not otherwise Disqualified Equity Interests), in whole or in part, (iii) provides for the scheduled payments
or dividends in cash, or (iv) is or becomes convertible into or exchangeable for (unless at the sole option of the issuer) Indebtedness
or any other Equity Interest that would constitute Disqualified Equity Interests, in each case, prior to the date that is one
hundred eighty one days after the latest applicable Maturity Date as in effect on the date of the issuance of such Equity Interest,
except, in the case of clauses (i) and (ii), if (x) as a result of an initial public offering, a change of control or asset sale,
so long as any rights of the holders thereof upon the occurrence of such initial public offering, a change of control or asset
sale event are subject to the prior payment in full of all Obligations (other than Remaining Obligations), the cancellation, expiration
or Cash Collateralization in an amount not less than the Minimum Collateral Amount of all Letters of Credit and the termination
of the Commitments or (y) in connection with an optional redemption by the issuer thereof.

 

    	 	19	 

     

    

 

“Disqualified
Institution” means, on any date, (i) any Person designated by the Borrower Representative as a “Disqualified Institution”
by written notice delivered to the Administrative Agent on or prior to the Closing Date, (ii) any Person that is a competitor
of Parent or any of its Subsidiaries, which Person has been designated by the Borrower Representative as a “Disqualified
Institution” by written notice to the Administrative Agent and the Lenders (including by posting such notice to the Platform)
not less than five (5) Business Days prior to such date, and (iii) any reasonably identifiable Affiliate of any Person referred
to in the foregoing clauses (i) and (ii) on the basis of its name or otherwise readily identifiable as such; provided,
(a) a competitor or an Affiliate of a competitor shall not include any Bona Fide Debt Fund and (b) “Disqualified Institution”
shall exclude any Person that the Borrower Representative has designated as no longer being a “Disqualified Institution”
by written notice delivered to the Administrative Agent from time to time.

 

“Dividend
Term Loan Proceeds” means the portion of the Term Loan proceeds received by the Borrowers on the Closing Date that are
borrowed specifically for the 2018 Dividend.

 

“Dollars”
and the sign “$” mean the lawful money of the United States of America.

 

“Dollar
Equivalent” means (i) with respect to any amount denominated in Dollars, such amount and (ii) with respect to any amount
denominated in any other currency (the “Non-Dollar Amount”), the amount of Dollars that could be converted
into the Non-Dollar Amount on the basis of the Spot Rate as reasonably determined in good faith by the Administrative Agent as
of the most recent Revaluation Date or other applicable date of determination.

 

“Domestic
Subsidiary” means a Subsidiary organized under the laws of the United States of America, any State thereof or the District
of Columbia.

 

“DQ
List” has the meaning set forth in Section 10.6(h)(iv).

 

“Dutch
Auction” has the meaning set forth in Section 10.6(f).

 

“Earn-out
Indebtedness” means, with respect to any acquisition, any consideration to be deferred for payment at any future time
(other than any Seller Note), whether or not any such future payment is subject to the occurrence of any contingency, including
any payment representing the deferred purchase price, “earn-outs” and other agreements to make any payment the amount
of which is, or the terms of payment to the seller in an acquisition of which are, in any respect subject to or contingent upon
the revenues, income, cash flow or profits (or the like) of any Person or business, in each case, (a) to the extent stated as
a liability on the balance sheet of the acquiring Person in accordance with GAAP and (b) other than post-closing working capital
or other balance sheet based purchase price adjustments.

 

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

 

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

 

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

 

    	 	20	 

     

    

 

“Eligible
Assignee” means any Person that meets the requirements to be an assignee under Section 10.6(b)(iii), 10.6(b)(v) and
10.6(b)(vi) (subject to such consents, if any, as may be required under Section 10.6(b)(iii)). For the avoidance of doubt, any
Disqualified Institution is subject to Section 10.6(h).

 

“Eligible
Counterparty” means the Administrative Agent, any Affiliate of the Administrative Agent, any Lender and any Affiliate
of any Lender, in each case, that from time to time enters into a Secured Swap Contract with Parent or any of its Restricted Subsidiaries;
provided, the term “Eligible Counterparty” shall include any Person that is the Administrative Agent, an Affiliate
of the Administrative Agent, a Lender or an Affiliate of a Lender as of the Closing Date or as of the date that such Person enters
into a Secured Swap Contract, but subsequently ceases to be the Administrative Agent, an Affiliate of the Administrative Agent,
a Lender or an Affiliate of a Lender, as the case may be.

 

“Employee
Benefit Plan” means any “employee benefit plan” as defined in Section 3(3) of ERISA (regardless of whether
such plan is subject to ERISA, but other than any Multiemployer Plan or Foreign Pension Plan) which is sponsored, maintained or
contributed to by, or required to be contributed to, Parent or any of its Restricted Subsidiaries or, solely with respect to such
a plan subject to Title IV of ERISA, any of their respective ERISA Affiliates, or with respect to which Parent or any of its Restricted
Subsidiaries has any material liability.

 

“Environmental
Claim” means any notice of violation, claim, action, suit, proceeding, demand, abatement order or other written notice
or order or directive (conditional or otherwise), by any Governmental Authority or any other Person, arising (i) pursuant to or
in connection with any actual or alleged violation of any Environmental Law; (ii) in connection with any Hazardous Material or
any actual or alleged Hazardous Materials Activity; or (iii) in connection with any actual or alleged damage, injury, threat or
harm to health or safety (with respect to exposure to Hazardous Materials), natural resources or the environment.

 

“Environmental
Services Division” means the business division of Parent and its Restricted Subsidiaries engaged in the environmental
services business.

 

“Environmental
Laws” means any and all current or future foreign or domestic, federal or state (or any subdivision of either of them)
Laws, Governmental Authorizations, or any other requirements of Governmental Authorities relating to (i) pollution or the protection
of the environment, including those relating to any Hazardous Materials Activity; (ii) the generation, use, storage, transportation
or disposal of Hazardous Materials; or (iii) occupational safety and health (with respect to exposure to Hazardous Materials),
industrial hygiene, land use or the protection of human, plant or animal health or welfare (in each case with respect to exposure
to Hazardous Materials), in any manner applicable to Parent or any of its Restricted Subsidiaries or any Real Property Facility
or Vessel.

 

“Equity
Interests” means all shares of capital stock, partnership interests (whether general or limited), limited liability
company membership interests, beneficial interests in a trust and any other interest or participation that confers on a Person
the right to receive a share of profits or losses, or distributions of assets, of an issuing Person, including any and all warrants,
rights or options to purchase or other arrangements or rights to acquire any of the foregoing, but excluding any debt Securities
convertible into such Equity Interests.

 

“ERISA”
means the Employee Retirement Income Security Act of 1974, and any successor thereto.

 

    	 	21	 

     

    

 

“ERISA
Affiliate” means, as applied to any Person, (i) any corporation which is a member of a controlled group of corporations
within the meaning of Section 414(b) of the Code of which that Person is a member; (ii) any trade or business (whether or not
incorporated) which is a member of a group of trades or businesses under common control within the meaning of Section 414(c) of
the Code of which that Person is a member; and (iii) solely for purposes of Section 412 of the Code, any member of an affiliated
service group within the meaning of Section 414(m) or (o) of the Code of which that Person is a member.

 

“ERISA
Event” means, except as could not reasonably be expected to result, either individually or in the aggregate, in a Material
Adverse Effect: (i) a “reportable event” within the meaning of Section 4043(c) of ERISA and the regulations issued
thereunder with respect to any Pension Plan (excluding those for which the provision for 30 day notice to the PBGC has been waived
by regulation); (ii) with respect to any Pension Plan, the failure to meet the minimum funding standard of Section 412 of the
Code (whether or not waived in accordance with Section 412(c) of the Code) or the failure to make by its due date a required installment
under Section 430(j) of the Code or, with respect to any Multiemployer Plan, the failure to make any required contribution in
accordance with Section 515 of ERISA or the application for a waiver of the minimum funding standard or an extension of any amortization
period, within the meaning of Sections 412(c) or 431(d) of the Code with respect to any Pension Plan; (iii) the provision by the
administrator of any Pension Plan pursuant to Section 4041(a)(2) of ERISA of a notice of intent to terminate such plan in a distress
termination described in Section 4041(c) of ERISA; (iv) the withdrawal by Parent or any of its Restricted Subsidiaries or any
of their respective ERISA Affiliates from any Pension Plan with two or more contributing sponsors or the termination of any such
Pension Plan resulting in liability to Parent or any of its Restricted Subsidiaries pursuant to Section 4063 or 4064 of ERISA;
(v) the institution by the PBGC of proceedings to terminate any Pension Plan or Multiemployer Plan, or the occurrence of any event
or condition which could reasonably be expected to constitute grounds under ERISA for the termination of, or the appointment of
a trustee to administer, any Pension Plan; (vi) the imposition of liability on any ERISA Party pursuant to Section 4062(e) or
4069 of ERISA or by reason of the application of Section 4212(c) of ERISA; (vii) with respect to a Multiemployer Plan, the withdrawal
of any ERISA Party in a complete or partial withdrawal (within the meaning of Sections 4203 and 4205 of ERISA) if there is any
potential liability to the ERISA Parties therefor, or the receipt by any ERISA Party of notice that such plan is insolvent pursuant
to Section 4245 of ERISA, or that such plan is to terminate or has terminated under Section 4041A of ERISA (to the extent such
termination will or is likely to result in a liability to the ERISA Parties) or under 4042 of ERISA; (viii) the occurrence of
an act or omission which could reasonably be expected to give rise to the imposition on the ERISA Parties of fines, penalties,
taxes or related charges under Chapter 43 of Title 26 of the Code or under Section 409, Section 502(c), (i) or (l), or Section
4071 of ERISA in respect of any Employee Benefit Plan; (ix) the assertion of a material claim (other than routine claims for benefits),
suit, action, proceeding, hearing, audit or, to the knowledge of Parent or any Borrower, investigation against any Foreign Pension
Plan or the assets thereof, Employee Benefit Plan other than a Multiemployer Plan or the assets thereof, or against an ERISA Party
in connection with any Employee Benefit Plan or Foreign Pension Plan; (x) receipt from the IRS of notice of the failure of any
Pension Plan (or any other Employee Benefit Plan intended to be qualified under Section 401(a) of the Code) to qualify under Section
401(a) of the Code, or the failure of any trust forming part of any Pension Plan to qualify for exemption from taxation under
Section 501(a) of the Code, or the receipt of the notice of the failure of a Foreign Pension Plan to qualify for any applicable
tax-favored status or to be registered and maintained in good standing with the applicable Governmental Authority; or (xi) the
imposition of a lien on the assets of Parent or any of its Restricted Subsidiaries pursuant to Section 430(k) of the Code or Section
303(k) or Section 4068 of ERISA.

 

“ERISA
Party” means Parent, any Borrower, any of its Restricted Subsidiaries or any ERISA Affiliate of any of the foregoing.

 

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

 

    	 	22	 

     

    

 

“Eurocurrency
Reserve Requirements” means for any day as applied to a Eurodollar Loan, the aggregate (without duplication) of the
maximum rates (expressed as a decimal fraction) of reserve requirements in effect on such day (including basic, supplemental,
marginal and emergency reserves) under any regulations of the Board of Governors or other Governmental Authority having jurisdiction
with respect thereto dealing with reserve requirements prescribed for eurocurrency funding (currently referred to as “Eurocurrency
Liabilities” in Regulation D of the Board of Governors) maintained by a member bank of the Federal Reserve System.

 

“Eurodollar
Base Rate” means (i) the rate per annum equal to the rate determined by the Administrative Agent to be the offered rate
which appears on the page of the Reuters Screen which displays an average London interbank offered rate administered by ICE Benchmark
Administration Limited (or any other person which takes over the administration of that rate) (such page currently being page
number LIBOR01) for deposits (for delivery on the first day of such period) with a term equivalent to such period in Dollars,
determined as of approximately 11:00 a.m. (London, England time) on the applicable Interest Rate Determination Date, (ii) if the
rate referenced in the preceding clause (i) does not appear on such page or service or if such page or service shall cease to
be available, the rate per annum equal to the rate determined by the Administrative Agent to be the offered rate on such other
page or other service which displays an average London interbank offered rate administered by ICE Benchmark Administration Limited
(or any other person which takes over the administration of that rate) Interest Settlement Rate for deposits (for delivery on
the first day of such period) with a term equivalent to such period in Dollars, determined as of approximately 11:00 a.m. (London,
England time) on such Interest Rate Determination Date or (iii) if the rates referenced in the preceding clauses (i) and (ii)
are not available, the rate per annum equal to the quotation rate offered to first class banks in the London interbank market
by the Administrative Agent for deposits (for delivery on the first day of the relevant period) in Dollars of amounts in same
day funds comparable to the principal amount of the applicable Loan of the Administrative Agent, in its capacity as a Lender,
for which the Eurodollar Base Rate is then being determined with maturities comparable to such period as of approximately 11:00
a.m. (London, England time) on such Interest Rate Determination Date; provided, if the Eurodollar Base Rate determined
as provided above with respect to any Eurodollar Loan for any Interest Period would be less than 0.0% per annum, then the Eurodollar
Base Rate with respect to such Eurodollar Loan for such Interest Period shall be deemed to be 0.0% per annum.

 

“Eurodollar
Loan” means a Loan bearing interest at a rate determined by reference to the Adjusted Eurodollar Rate.

 

“Eurodollar
Rate” means with respect to each day during each Interest Period pertaining to a Eurodollar Loan, a rate per annum equal
to (x) the Eurodollar Base Rate as of such date divided by (y) (1.00 minus Eurocurrency Reserve Requirements as
of such date).

 

“Event
of Default” as defined in Section 8.1.

 

“Exchange
Act” means the Securities Exchange Act of 1934.

 

“Excluded
Assets” means:

 

(i)
any (i) Real Estate Asset that (a) is a leasehold interest or (b) is not a Material Real Estate Asset and (ii) Vessel that is
not a Material Vessel;

 

(ii)
(a) assets located outside the United States or assets that require action under the law of any non-U.S. jurisdiction to create
or perfect a security interest in such assets under such non-U.S. jurisdiction, including any intellectual property registered
in any non-U.S. jurisdiction and (b) any assets to the extent the creation or perfection of pledges thereof, or security interests
therein, would reasonably be expected to result in adverse tax consequences to Parent or any of its Restricted Subsidiaries, as
reasonably determined by the Borrower Representative;

 

    	 	23	 

     

    

 

(iii)
Equity Interests of any Subsidiary that is a Controlled Foreign Corporation or Foreign Subsidiary Holding Company in excess of
65% of the total outstanding Equity Interests of such Subsidiary entitled to vote (within the meaning of Treas. Reg. Sec. 1.956-2(c)(2));

 

(iv)
motor vehicles, airplanes and other assets subject to certificates of title, to the extent a Lien therein cannot be perfected
by the filing of a UCC financing statement (other than Material Vessels);

 

(v)
property and assets to the extent that the Administrative Agent may not validly possess a security interest therein under, or
such security interest is restricted by, applicable Laws or the pledge or creation of a security interest in which would require
governmental consent, approval, license or authorization, other than to the extent such prohibition or limitation is rendered
ineffective under the UCC or other applicable Law notwithstanding such prohibition;

 

(vi)
assets of and Equity Interests in any Person (other than a wholly owned Subsidiary) to the extent that (A) a security interest
is not permitted to be granted by the terms of such Person’s Organizational Documents or joint venture documents, or (B)
consent of any Person (other than Parent or any of its Subsidiaries) would be required to the extent such consent has not been
obtained (after giving effect to applicable anti-assignment provisions of the UCC or other applicable Laws);

 

(vii)
leases, licenses, permits and agreements (including with respect to any lease, Purchase Money Indebtedness or similar arrangements
and assets subject thereto) to the extent that, and so long as, a grant of a security interest therein, or in the property or
assets that secure the underlying obligations with respect thereto (a) is prohibited by applicable Law other than to the extent
such prohibition is rendered ineffective under the UCC or other applicable Law notwithstanding such prohibition, (b) would violate
or invalidate such lease, license, permit or agreement, or create a right of termination in favor of, or require the consent of,
any other party thereto (other than Parent and its Restricted Subsidiaries) (in each case, after giving effect to the relevant
provisions of the UCC or other applicable Laws) or (c) would cause such lease, license, permit or agreement to be terminated pursuant
to any “change of control” or similar provisions contained therein, in each case, other than the proceeds thereof
to the extent the assignment of such proceeds is not rendered ineffective under the UCC or other applicable law, and only to the
extent that and for so long as such limitation on such pledge or security interest is otherwise permitted under Section 6.5;

 

(viii)
governmental licenses, state or local franchises, charters and authorizations and any other property and assets to the extent
that the Administrative Agent may not validly possess a security interest therein under, or such security interest is restricted
by, (a) the terms of such license, franchise, charter or authorization or (b) applicable Laws (including, without limitation,
rules and regulations of any Governmental Authority or agency) or the pledge or creation of a security interest in which would
require governmental consent, approval, license or authorization, other than to the extent such prohibition or limitation is rendered
ineffective under the UCC or other applicable Law notwithstanding such prohibition (but excluding proceeds of any such governmental
license to the extent the assignment of such proceeds is not rendered ineffective under the UCC or other applicable law), or otherwise
require consent thereunder (after giving effect to the applicable anti-assignment provisions of the UCC or other applicable law);

 

    	 	24	 

     

    

 

(ix)
Margin Stock;

 

(x)
any intellectual property registered in any non-U.S. jurisdiction other than to the extent a security interest therein can be
perfected by the filing of a financing statement under the UCC;

 

(xi)
Equity Interests in Unrestricted Subsidiaries;

 

(xii)
any intent-to-use trademark application prior to the filing of a “Statement of Use” or “Amendment to Allege
Use” with respect thereto, to the extent, if any, that, and solely during the period, if any, in which the grant of a security
interest therein would impair the validity or enforceability of such intent-to-use trademark application under applicable federal
law;

 

(xiii)
Equity Interests of any Subsidiary that is a captive insurance company, not-for-profit entity or special purpose entity;

 

(xiv)
Equity Interests of any Subsidiary acquired pursuant to a Permitted Acquisition or other permitted Investment that is subject
to secured Indebtedness permitted pursuant to Section 6.1(s) at the time of the acquisition thereof or investment therein if such
Equity Interests are pledged as security for such Indebtedness if and for so long as the terms of such Indebtedness prohibit the
creation of any other Lien on such Equity Interests; and

 

(xv)
particular assets if, and for so long as, in each case, reasonably agreed by the Administrative Agent and the Borrower Representative,
the cost of creating or perfecting such pledges or security interests in such assets exceeds the practical benefits to be obtained
by the Lenders therefrom.

 

Notwithstanding
the foregoing, “Excluded Assets” shall not include proceeds, substitutions or replacements of any Excluded Asset unless
such proceeds, substitutions or replacements would independently constitute Excluded Assets.

 

“Excluded
Information” means any non-public information with respect to Parent, any Borrower or its Restricted Subsidiaries or
any of their respective securities to the extent such information could reasonably be expected to have a material effect upon,
or otherwise be material to, an assigning Term Loan Lender’s decision to assign Term Loans or a purchasing Term Loan Lender’s
decision to purchase Term Loans.

 

    	 	25	 

     

    

 

“Excluded
Subsidiary” means (i) any Unrestricted Subsidiary and (ii) any Restricted Subsidiary that is (a) not a wholly owned
Domestic Subsidiary of Parent, any Borrower or a Guarantor, (b) an Immaterial Subsidiary, (c) prohibited or restricted by applicable
Law or by Contractual Obligations existing on the Closing Date (or, in the case of any newly acquired Subsidiary, in existence
at the time of acquisition thereof but not entered into in contemplation thereof) from guaranteeing the Obligations or if guaranteeing
the Obligations would require governmental (including regulatory) consent, approval, license or authorization, or if such guarantee
could reasonably be expected to result in adverse tax consequences as reasonably determined by the Borrower Representative, (d)
a Controlled Foreign Corporation, (e) any Subsidiary to the extent the provision of a Guaranty could reasonably be expected to
expose the officers, directors, managers or shareholders of such Subsidiary to individual liability or would result in corporate
benefit, financial assistance or similar issues, in each case as reasonably determined by the Borrower Representative, in consultation
with the Administrative Agent, (f) a Foreign Subsidiary Holding Company, (g) a Domestic Subsidiary that is a direct or indirect
Subsidiary of a Foreign Subsidiary or a Foreign Subsidiary Holding Company, (h) a special purpose securitization vehicle (or similar
entity), (i) a not-for-profit Subsidiary, (j) a captive insurance Subsidiary, or (k) a Subsidiary with respect to which, in the
reasonable judgment of Parent and the Administrative Agent, the burden or cost or other negative consequences of providing a Guarantee
shall be excessive in view of the benefits to be obtained by the Lenders therefrom.

 

“Excluded
Swap Obligation” means, with respect to any Guarantor at any time, any Swap Contract (and Swap Obligation thereunder),
if, and to the extent that, all or a portion of the guarantee of such Guarantor of, or the grant by such Guarantor of a security
interest to secure, such Swap Contract and/or Swap Obligation thereunder (or any guarantee thereof) is illegal at such time under
the Commodity Exchange Act or any rule, regulation or order of the Commodity Futures Trading Commission (or the application or
official interpretation of any thereof) by virtue of such Guarantor’s failure for any reason to constitute an “eligible
contract participant” as defined in the Commodity Exchange Act. If a Swap Obligation arises under a master agreement governing
more than one swap, such exclusion shall apply only to the portion of such Swap Obligation that is attributable to swaps for which
such guarantee or security interest is or becomes illegal under the Commodity Exchange Act or any rule, regulation or order of
the Commodity Futures Trading Commission (or the application or official interpretation of any thereof).

 

“Excluded
Taxes” means any of the following Taxes imposed on or with respect to a Recipient or required to be withheld or deducted
from a payment to a Recipient, (a) Taxes imposed on or measured by net income (however denominated), franchise Taxes, and branch
profits Taxes, in each case, (i) imposed as a result of such Recipient being organized under the laws of, or having its principal
office or, in the case of any Lender, its applicable lending office located in, the jurisdiction imposing such Tax (or any political
subdivision thereof) or (ii) that are Other Connection Taxes, (b) in the case of a Lender, U.S. federal withholding Taxes imposed
on amounts payable to or for the account of such Lender with respect to an applicable interest in a Loan or Commitment pursuant
to a law in effect on the date on which (i) such Lender acquires such interest in the Loan or Commitment (other than pursuant
to an assignment request by the Borrower Representative under Section 2.23) or (ii) such Lender changes its lending office, except
in each case to the extent that, pursuant to Section 2.20, amounts with respect to such Taxes were payable either to such Lender’s
assignor immediately before such Lender became a party hereto or to such Lender immediately before it changed its lending office,
(c) Taxes attributable to such Recipient’s failure to comply with Section 2.20(g) and (d) any Taxes imposed under FATCA.

 

“Executive
Order No. 13224” means that certain Executive Order No. 13224, effective September 24, 2001, as the same has been, or
shall hereafter be, renewed, extended, amended or replaced.

 

“Existing
Indebtedness” means the Indebtedness listed in Schedule 1.1(a).

 

“Existing
Letters of Credit” means the letters of credit listed in Schedule 1.1(b).

 

“Extended
Revolving Credit Commitment” means a Revolving Credit Commitment or Permitted Refinancing Revolving Credit Commitment
that has been extended pursuant to an Extension.

 

“Extending
Revolving Lender” means a Lender holding an Extended Revolving Credit Commitment.

 

    	 	26	 

     

    

 

 “Extended
Revolving Loan” means a Revolving Loan that has been extended pursuant to an Extension.

 

“Extended
Term Loan Commitment” means a commitment of any Lender, established pursuant to Section 2.24, to make Extended Term
Loans to the Borrowers.

 

“Extended
Term Loan” means a Term Loan that has been extended pursuant to an Extension.

 

“Extension”
as defined in Section 2.24(a).

 

“Extension
Amendment” means an amendment to this Agreement (which may, at the option of the Administrative Agent and the Borrower
Representative, be in the form of an amendment and restatement of this Agreement) among the Credit Parties, the applicable extending
Lenders, the Administrative Agent and, to the extent required by Section 2.24, an Issuing Bank and/or the Swing Line Lender implementing
an Extension in accordance with Section 2.24.

 

“Extension
Offer” as defined in Section 2.24(a).

 

“Facilities”
means (i) the Initial Term Loan Facility, (ii) the Revolving Credit Facility, (iii) any credit facility consisting of Other
Term Loans, and (iv) any credit facility established pursuant to a Permitted Refinancing Amendment.

 

“Fair
Market Value” means fair market value as reasonably determined in good faith by the Borrower Representative.

 

“Fair
Share” as defined in Section 7.2.

 

“Fair
Share Contribution Amount” as defined in Section 7.2.

 

“FATCA”
means Sections 1471 through 1474 of the Code, as of the date of this Agreement (or any amended or successor version that is
substantively comparable and not materially more onerous to comply with), any current or future regulations or official interpretations
thereof and any agreements entered into pursuant to Section 1471(b)(1) of the Code, any intergovernmental agreement entered into
in connection with the implementation of such sections of the Code, and any official interpretations of, and any legislative or
regulatory rules adopted pursuant to such intergovernmental agreement.

 

“Federal
Flood Insurance” means federally backed Flood Insurance available under the NFIP to owners of real property improvements
located in Special Flood Hazard Areas in a community participating in the NFIP.

 

“Federal
Funds Effective Rate” means for any day, the rate per annum (expressed, as a decimal) equal to the weighted average
of the rates on overnight Federal funds transactions with members of the Federal Reserve System on such day, as published by the
Federal Reserve Bank of New York on the Business Day next succeeding such day; provided, (i) if such day is not a Business
Day, the Federal Funds Effective Rate for such day shall be such rate on such transactions on the next preceding Business Day
as so published on the next succeeding Business Day, and (ii) if no such rate is so published on such next succeeding Business
Day, the Federal Funds Effective Rate for such day shall be the average rate charged to the Administrative Agent, in its capacity
as a Lender, on such day on such transactions as reasonably determined by the Administrative Agent in good faith.

 

    	 	27	 

     

    

 

“FEMA”
means the Federal Emergency Management Agency, a component of the U.S. Department of Homeland Security that administers the
NFIP.

 

“Financial
Condition Covenant” means the covenant set forth in Section 6.7.

 

“Financial
Condition Covenant Event of Default” as defined in Section 8.1(c).

 

“Financial
Officer Certification” means, with respect to the financial statements for which such certification is required, the
certification of the chief financial officer or treasurer (or other officer reasonably acceptable to the Administrative Agent)
of Parent that such financial statements fairly present, in all material respects, the financial condition of Parent and its Subsidiaries
or its Restricted Subsidiaries as at the dates indicated and the results of their operations and their cash flows for the periods
indicated, subject to changes resulting from audit and normal year-end adjustments.

 

“Financial
Plan” as defined in Section 5.1(f).

 

“FIRREA”
means the Financial Institutions Reform, Recovery and Enforcement Act of 1989.

 

“First
Priority” means, (i) with respect to any Lien purported to be created in any Collateral pursuant to any Collateral Document
that does not constitute Equity Interests, that such Lien is prior in right to any other lien thereon, other than Permitted Liens
and (ii) with respect to any Lien purported to be created in any Collateral pursuant to any Collateral Document that constitutes
Equity Interests, that such Lien is prior in right to any other lien thereon, other than Permitted Liens which (x) as a matter
of law have priority over the Liens on such Collateral created pursuant to the relevant Collateral Document or (y) solely with
respect to Equity Interests of any Subsidiary acquired pursuant to a Permitted Acquisition or other permitted Investment that
is subject to secured Indebtedness permitted pursuant to Section 6.1(s) at the time of the acquisition thereof or investment therein,
secure such Indebtedness.

 

“Fiscal
Quarter” means a fiscal quarter of any Fiscal Year.

 

“Fiscal
Year” means the fiscal year of Parent and its Restricted Subsidiaries ending on December 31 of each calendar year.

 

“Flood
Insurance” means, for any improved Material Real Estate Asset located in a Special Flood Hazard Area, Federal Flood
Insurance or private insurance reasonably satisfactory to the Administrative Agent, in either case, that (i) meets the applicable
requirements of the NFIP and (ii) shall have a coverage amount equal to the lesser of (x) the “replacement cost value”
of the buildings and any personal property Collateral located on the Material Real Estate Asset as determined under the NFIP or
(y) the maximum policy limits set under the NFIP.

 

“Flood
Notice” has the meaning assigned thereto in Section 5.12(a)(v)(B).

 

“Foreign
Lender” means (i) if a Borrower is a U.S. Person, a Lender that is not a U.S. Person, and (ii) if a Borrower is not
a U.S. Person, a Lender that is resident or organized under the laws of a jurisdiction other than that in which such Borrower
is resident for tax purposes.

 

“Foreign
Pension Plan” means any plan, fund (including, without limitation, any superannuation fund) or other similar program
established or maintained outside of the United States by Parent or any of its Restricted Subsidiaries primarily for the benefit
of employees of Parent or any of its Restricted Subsidiaries residing outside of the United States that provides, or results in,
retirement income, a deferral of income in contemplation of retirement or payments to be made upon termination of employment,
and which plan is not subject to ERISA or the Code.

 

    	 	28	 

     

    

 

“Foreign
Subsidiary” means a Subsidiary that is not a Domestic Subsidiary.

 

“Foreign
Subsidiary Holding Company” means any Domestic Subsidiary of Parent substantially all of the assets of which consist
of the Equity Interests (or Equity Interests and other Securities) of one or more Controlled Foreign Corporations or other such
Domestic Subsidiaries.

 

“Fronting
Exposure” means, at any time there is a Defaulting Lender, (i) with respect to each Issuing Bank, such Defaulting Lender’s
Pro Rata Share of the outstanding Letter of Credit Obligations with respect to Letters of Credit issued by each Issuing Bank other
than Letter of Credit Obligations as to which such Defaulting Lender’s participation obligation has been reallocated to
other Lenders or Cash Collateralized in accordance with the terms hereof, and (ii) with respect to the Swing Line Lender, such
Defaulting Lender’s Pro Rata Share of outstanding Swing Line Loans made by the Swing Line Lender other than Swing Line Loans
as to which such Defaulting Lender’s participation obligation has been reallocated to other Lenders or Cash Collateralized
in accordance with the terms hereof.

 

“Fund”
means any Person (other than a natural Person) that is (or will be) engaged in making, purchasing, holding or otherwise investing
in commercial loans and similar extensions of credit in the ordinary course of its activities.

 

“Funding
Guarantor” as defined in Section 7.2.

 

“Funding
Notice” means a notice substantially in the form of Exhibit A-1 or otherwise reasonably acceptable to the Administrative
Agent.

 

“GAAP”
means, subject to the limitations on the application thereof set forth in Section 1.2, United States generally accepted accounting
principles in effect as of the date of determination thereof.

 

“Governmental
Act” means any act or omission, whether rightful or wrongful, of any present or future de jure or de facto government
or Governmental Authority.

 

“Governmental
Authority” means the government of the United States of America or any other nation, or of any political subdivision
thereof, whether state or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity
exercising executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining to government
(including any supra-national bodies such as the European Union or the European Central Bank).

 

“Governmental
Authorization” means any permit, license, authorization, plan, directive, consent order or consent decree of or from
any Governmental Authority.

 

“Granting
Lender” as defined in Section 10.6(e)(ii).

 

“Grantor”
as defined in the Pledge and Security Agreement.

 

“Guaranteed
Obligations” as defined in Section 7.1.

 

“Guarantor”
means Parent and each Guarantor Subsidiary.

 

    	 	29	 

     

    

  

“Guarantor
Subsidiary” means a wholly owned Domestic Subsidiary of Parent that is not an Excluded Subsidiary or a Borrower.

 

“Guaranty”
means the guaranty of each Guarantor party hereto set forth in Section 7.

 

“Hazardous
Materials” means any chemical, material or substance that is listed, classified, regulated, characterized or otherwise
defined as “hazardous,” “toxic,” “radioactive” (or words of similar intent or meaning) under
applicable Environmental Law.

 

“Hazardous
Materials Activity” means any past, current, proposed or threatened activity, event or occurrence involving any Hazardous
Materials, including the use, manufacture, possession, storage, holding, presence, existence, location, Release, threatened Release,
discharge, placement, generation, transportation, processing, construction, treatment, abatement, removal, remediation, disposal,
disposition or handling of any Hazardous Materials, and any corrective action or response action with respect to any of the foregoing.

 

“Highest
Lawful Rate” means the maximum lawful interest rate, if any, that at any time or from time to time may be contracted
for, charged, or received under the Laws applicable to any Lender which are presently in effect or, to the extent allowed by Law,
under such applicable Laws which may hereafter be in effect and which allow a higher maximum nonusurious interest rate than applicable
Laws now allow.

 

“Historical
Financial Statements” means, (i) the audited financial statements of JFL-NRC Holdings, LLC and its Subsidiaries for
the fiscal years thereof ending December 31, 2015, December 31, 2016 and December 31, 2017, consisting of balance sheets and the
related consolidated statements of income, stockholders’ equity and cash flows for such fiscal years, (ii) the audited financial
statements of SES Holdco, LLC and its Subsidiaries for fiscal years thereof ending December 31, 2015, December 31, 2016 and December
31, 2017, consisting of balance sheets and the related consolidated statements of income, stockholders’ equity and cash
flows for such fiscal years, (iii) the unaudited financial statements of JFL-NRC Holdings, LLC and its Subsidiaries as of March
31, 2018, consisting of a balance sheet and the related consolidated statements of income, stockholders’ equity and cash
flows for the three-month period ending on such date and (iv) the unaudited financial statements of SES Holdco, LLC and its Subsidiaries
as of March 31, 2018, consisting of a balance sheet and the related consolidated statements of income, stockholders’ equity
and cash flows for the three-month period ending on such date.

 

“Holding
Companies” and “Holding Company” as defined in the preamble hereto.

 

“Immaterial
Subsidiary” means, at any time, any Restricted Subsidiary that (i) contributed 2.5% or less of the Consolidated Adjusted
EBITDA of Parent and its Restricted Subsidiaries for the most recently ended Test Period, or (ii) had consolidated assets representing
2.5% or less of the Consolidated Total Assets of Parent and its Restricted Subsidiaries on the last day of the most recently ended
Test Period; provided, if at any time and from time to time after the Closing Date, Immaterial Subsidiaries comprise in
the aggregate more than 5.0% of the Consolidated Adjusted EBITDA of Parent and its Restricted Subsidiaries for the most recently
ended Test Period, or more than 5.0% of the Consolidated Total Assets of Parent and its Restricted Subsidiaries as of the end
of the most recently ended Test Period, then the Borrower Representative shall, not later than forty-five (45) days after the
date by which financial statements for such period are required to be delivered pursuant to this Agreement (or such longer period
as the Administrative Agent may agree in its reasonable discretion), (i) designate in writing to the Administrative Agent that
one or more of such Restricted Subsidiaries is no longer an Immaterial Subsidiary for purposes of this Agreement to the extent
required such that the foregoing condition ceases to be true and (ii) comply with the provisions of Section 5.11 applicable to
such Restricted Subsidiaries and provided further that so long as no Event of Default is then continuing, the Borrower
Representative may designate and redesignate a Subsidiary as an Immaterial Subsidiary at any time, subject to the terms set forth
in this definition.

 

    	 	30	 

     

    

  

“Incremental
Equivalent Debt” as defined in Section 2.25(l).

 

“Incremental
Facility” means a credit facility established as Incremental Revolving Credit Commitments and Incremental Revolving
Loans or Incremental Term Loan Commitments and Incremental Term Loans.

 

“Incremental
Facility Amount” as defined in Section 2.25(b).

 

“Incremental
Facility Effective Date” as defined in Section 2.25(c).

 

“Incremental
Revolving Credit Commitments” as defined in Section 2.25(a).

 

“Incremental
Revolving Lender” as defined in Section 2.25(c).

 

“Incremental
Revolving Loan” as defined in Section 2.25(e).

 

“Incremental
Term Loan” as defined in Section 2.25(f).

 

“Incremental
Term Loan Commitments” as defined in Section 2.25(a).

 

“Incremental
Term Loan Lender” as defined in Section 2.25(c).

 

“Incremental
Term Loan Note” means a promissory note substantially in the form of Exhibit B-4 or otherwise in form reasonably acceptable
to the Administrative Agent.

 

“Indebtedness”,
as applied to any Person, means, without duplication, (i) indebtedness for borrowed money and all obligations of such Person in
respect of principal or interest evidenced by bonds, debentures, notes, loan agreements or other similar instruments; (ii) that
portion of obligations with respect to Capital Leases that is properly classified as a liability on a balance sheet in conformity
with GAAP; (iii) notes payable and drafts accepted representing extensions of credit, regardless of whether representing obligations
for borrowed money; (iv) any obligation owed for all or any part of the deferred purchase price of property or services, but excluding
(x) any such obligations incurred under ERISA, (y) accounts payable and accrued obligations incurred in the ordinary course of
business that are not overdue by more than ninety days, unless such payables are being actively contested pursuant to appropriate
proceedings and (z) Earn-Out Indebtedness, other than Earn-Out Indebtedness that is (a) due (or remains unpaid) more than ninety
days from the date such Earn-Out Indebtedness is stated as a liability on the balance sheet of the acquiring Person in accordance
with GAAP or (b) evidenced by a note or similar written instrument, (v) indebtedness secured by a Lien on any property or asset
owned or held by that Person regardless of whether the indebtedness secured thereby shall have been assumed by that Person or
is nonrecourse to the credit of that Person; provided that, if such Person has not assumed such obligations, then the amount of
Indebtedness of such Person for purposes of this clause (v) shall be equal to the lesser of the amount of the obligations of the
holder of such obligations and the Fair Market Value of the assets of such Person that secure such obligations; (vi) the face
amount of any letter of credit, bankers’ acceptances, bank guarantees, surety bonds, performance bonds, and similar instruments
issued for the account of that Person or as to which that Person is otherwise liable for reimbursement of drawings; (vii) Disqualified
Equity Interests; (viii) the direct or indirect guaranty, endorsement (otherwise than for collection or deposit in the ordinary
course of business) or co-making, of obligations of another of the nature described in any of the foregoing clauses (i) through
(vi) above for another Person; (ix) any obligation of such Person the primary purpose or intent of which is to provide assurance
to an obligee that the obligation of the obligor thereof will be paid or discharged, or any agreement relating thereto will be
complied with, or the holders thereof will be protected (in whole or in part) against loss in respect thereof; (x) any liability
of such Person for the obligation of another through any agreement (contingent or otherwise) (a) to purchase, repurchase or otherwise
acquire such obligation or any security therefor, or to provide funds for the payment or discharge of such obligation (whether
in the form of loans, advances, stock purchases, capital contributions or otherwise) or (b) to maintain the solvency or any balance
sheet item, level of income or financial condition of another if, in the case of any agreement described under subclauses (a)
or (b) of this clause (x), the primary purpose or intent thereof is as described in clause (ix) above; and (xi) solely for purposes
of Sections 6.1 and 8.1(b), net obligations of such Person under any Swap Contract; provided, (a) the amount of any net
obligation under any Swap Contract on any date shall be deemed to be the Swap Termination Value thereof as of such date and (b)
the amount of any obligation described in clause (viii), (ix) or (x) hereof shall be deemed to be the lower of (y) the amount
equal to the stated or determinable amount of the primary obligation in respect of which such guaranty, liability or obligation
is made or assumed and (z) the maximum amount for which such Person may be liable pursuant to the terms of the instrument embodying
such guaranty or assumption of liability or obligation, unless such primary obligation and the maximum amount for which such Person
may be liable are not stated or determinable, in which case the amount of such guaranty, liability or obligation shall be such
Person’s maximum reasonably anticipated liability in respect thereof as determined by the Borrower Representative in good
faith.

 

    	 	31	 

     

    

  

“Indemnified
Taxes” means (i) Taxes, other than Excluded Taxes, imposed on or with respect to any payment made by or on account of
any obligation of any Credit Party under any Credit Document and (ii) to the extent not otherwise described in (i), Other Taxes.

 

“Indemnitee”
as defined in Section 10.3(a).

 

“Initial
Term Loan” means a term loan made by the Lenders on the Closing Date to the Borrowers pursuant to Section 2.1(a).

 

“Initial
Term Loan Commitment” means the commitment of a Lender to make or otherwise fund an Initial Term Loan and “Initial
Term Loan Commitments” means such commitments of all of the Lenders in the aggregate. The amount of each Lender’s
Initial Term Loan Commitment, if any, is set forth on Appendix A-1 or in the applicable Assignment and Assumption, subject to
any adjustment or reduction pursuant to the terms and conditions hereof. The aggregate amount of the Initial Term Loan Commitments
as of the Closing Date is $308,000,000.

 

“Initial
Term Loan Facility” means the Initial Term Loan Commitments and the provisions herein related to the Initial Term Loans;
provided, any reference to the Initial Term Loan Facility shall be deemed to include any Incremental Facility consisting
of Incremental Term Loan Commitments and Incremental Term Loans unless such Incremental Term Loans are Other Term Loans.

 

“Initial
Term Loan Lender” means each Lender that has an Initial Term Loan Commitment or that holds an Initial Term Loan.

 

“Initial
Term Loan Maturity Date” means June 11, 2024 or such later date as may be extended pursuant to Section 2.24.

 

“Intellectual
Property Security Agreement” has the meaning assigned to that term in the Pledge and Security Agreement.

 

    	 	32	 

     

    

  

“Intercreditor
Agreement” means each intercreditor agreement referred to herein or contemplated hereby entered into in connection with
the incurrence, assumption or acquisition of any Indebtedness permitted hereunder.

 

“Interest
Payment Date” means with respect to (i) any Base Rate Loan, each March 31, June 30, September 30 and December 31 of
each year, commencing on September 30, 2018 and the final maturity date of such Loan; and (ii) any Eurodollar Loan, the last day
of each Interest Period applicable to such Loan; provided, in the case of each Interest Period of longer than three months,
the term “Interest Payment Date” shall also include each date that is three months, or an integral multiple thereof,
after the commencement of such Interest Period.

 

“Interest
Period” means, in connection with a Eurodollar Loan, an interest period of one-, two-, three- or six-months (or, with
the consent of all affected Lenders, twelve months or, subject to Section 2.8(b), one week), as selected by the Borrower Representative
in the applicable Funding Notice or Conversion/Continuation Notice, (i) initially, commencing on the Credit Date or Conversion/Continuation
Date thereof, as the case may be; and (ii) thereafter, commencing on the day on which the immediately preceding Interest Period
expires; provided, (a) if an Interest Period would otherwise expire on a day that is not a Business Day, such Interest
Period shall expire on the next succeeding Business Day unless no further Business Day occurs in such month, in which case such
Interest Period shall expire on the immediately preceding Business Day; (b) any Interest Period that begins on the last Business
Day of a calendar month (or on a day for which there is no numerically corresponding day in the calendar month at the end of such
Interest Period) shall, subject to clauses (c) and (d), of this definition, end on the last Business Day of a calendar month;
(c) no Interest Period with respect to any portion of any Class of Term Loans shall extend beyond such Class’s Maturity
Date; and (d) no Interest Period with respect to any portion of the Revolving Loans shall extend beyond the Revolving Credit Commitment
Termination Date.

 

“Interest
Rate Determination Date” means, with respect to any Interest Period, the date that is two (2) Business Days prior to
the first day of such Interest Period.

 

“Investment”
means (i) any direct or indirect purchase or other acquisition by Parent or any of its Restricted Subsidiaries of, or of a
beneficial interest in, any of the Securities of any other Person; (ii) any direct or indirect redemption, retirement, purchase
or other acquisition for value, by Parent or any of its Restricted Subsidiaries from any Person, of any Equity Interests of such
Person; and (iii) any direct or indirect loan, advance or capital contribution by Parent or any of its Restricted Subsidiaries
to any other Person. For purposes of covenant compliance, the amount of any Investment at any time shall be the amount actually
invested (measured at the time made), without adjustment for subsequent increases or decreases in the value of such Investment,
less any Returns to Parent or any of its Restricted Subsidiaries in respect of such Investment; provided, the aggregate
amount of such Returns shall not exceed the original amount of such Investment.

 

“IRS”
means the United States Internal Revenue Service.

 

“Issuance
Notice” means an Issuance Notice substantially in the form of Exhibit A-3 or otherwise reasonably acceptable to the
Administrative Agent.

 

“Issuing
Bank” means (a) BNP Paribas, as an Issuing Bank hereunder, together with its permitted successors and assigns in such
capacity; (b) any other Lender that may become an Issuing Bank pursuant to Section 2.4(l) in its capacity as issuer of Letters
of Credit issued by such Lender; or (c) collectively, all of the foregoing.

 

    	 	33	 

     

    

 

 “Joinder
Agreement” means an agreement substantially in the form of Exhibit K or otherwise reasonably acceptable to the Administrative
Agent.

 

“Junior
Financing” means any Indebtedness (other than intercompany Indebtedness among Parent and its Restricted Subsidiaries)
for borrowed money of Parent and its Restricted Subsidiaries that is (i) contractually subordinated in right of payment to the
Obligations expressly by its terms and/or (ii) secured on a contractually junior lien basis to the Liens securing the Obligations.

 

“Junior
Financing Documentation” means any documentation governing any Junior Financing.

 

“Landlord
Waiver and Consent Agreement” means a Landlord Waiver and Consent Agreement substantially in the form of Exhibit J,
with such amendments or modifications as may be approved by the Collateral Agent, or such other form as is reasonably acceptable
to the Collateral Agent.

 

“Laws”
means any and all federal, state, local and foreign statutes, laws, judicial decisions, regulations, guidances, guidelines,
ordinances, rules, judgments, orders, decrees, codes, plans, injunctions, permits, concessions, grants, franchises, governmental
agreements and governmental restrictions, whether now or hereafter in effect.

 

“LCA
Test Date” as defined in Section 1.7(c).

 

“Lead
Arranger” means BNP Paribas Securities Corp.

 

“Lender”
means each Person listed on the signature pages hereto as a Lender, and any other Person (other than a natural Person) that
becomes a party hereto pursuant to an Assignment and Assumption, a Joinder Agreement or a Permitted Refinancing Amendment.

 

“Lender
Affiliated Parties” as defined in Section 10.22.

 

“Lender
Party” as defined in Section 10.17.

 

“Letter
of Credit” means a commercial or standby letter of credit issued or to be issued by an Issuing Bank pursuant to this
Agreement, including the NRC Letters of Credit which, as of the Closing Date, shall be deemed to have been issued pursuant to
this Agreement.

 

“Letter
of Credit Obligations” means, as at any date of determination, the sum of (i) the maximum aggregate amount that is,
or at any time thereafter may become, available for drawing under all Letters of Credit then outstanding (calculated, in the case
of Alternate Currency Letters of Credit, based on the Dollar Equivalent thereof), plus (ii) the aggregate amount of all
drawings under Letters of Credit honored by an Issuing Bank and not theretofore reimbursed by or on behalf of the Borrowers (calculated,
in the case of Alternate Currency Letters of Credit, based on the Dollar Equivalent thereof).

 

“Letter
of Credit Sublimit” means, as of any date of determination, the lower of (i) $20,000,000, and (ii) the aggregate amount
of the Revolving Credit Commitments as of such date minus the Total Utilization of Revolving Credit Commitments as of such
date.

 

“Lien”
means any lien, mortgage, pledge, assignment, security interest, charge or similar encumbrance (including any agreement to
give any of the foregoing, any conditional sale or other title retention agreement, and any lease in the nature thereof) and any
option, trust or other preferential arrangement having the practical effect of any of the foregoing.

 

    	 	34	 

     

    

  

“Limited
Condition Acquisition” means any acquisition, including by way of merger, or Investment, in each case, by Parent or
one or more of its Restricted Subsidiaries permitted pursuant to this Agreement the consummation of which is not conditioned upon
the availability of, or on obtaining, third party financing.

 

“Loan”
means a Term Loan, a Revolving Loan or a Swing Line Loan.

 

“Management
Agreement” means, collectively (i) the Management Agreement and the Consultancy Agreement, each dated as of March 16,
2012, between the Management Company and NRC Holdings and (ii) the Management Agreement and the Consultancy Agreement, each dated
as of May 5, 2015, between the Management Company, the Sprint Borrower and Sprint Holdings, each as assigned to and assumed by
the Sponsor. 

 

“Management
Company” means J.F. Lehman & Company, Inc., predecessor in interest to the Sponsor.

 

“Margin
Stock” as defined in Regulation U of the Board of Governors as in effect from time to time.

 

“Master
Agreement” has the meaning set forth in the definition of “Swap Contract.”

 

“Material
Adverse Effect” means any event, change or condition that, individually or in the aggregate, has had (i) a material
adverse effect on the business, assets, results of operations or financial condition of the Credit Parties and their Subsidiaries,
taken as a whole, (ii) a material adverse effect on the ability of the Credit Parties (taken as a whole) to fully and timely perform
their payment obligations under any Credit Document to which any of the Credit Parties is a party or (iii) a material adverse
effect on the material rights and remedies (taken as a whole) of the Agents, the Issuing Banks and any other Secured Party under
the Credit Documents (taken as a whole), including the legality, validity, binding effect or enforceability of the Credit Documents
(for the avoidance of doubt, in each case after giving effect to all protections afforded by the acquisition documentation with
respect to any Permitted Acquisition and applicable insurance policies).

 

“Material
Indebtedness” means Indebtedness (other than the Obligations) of any one or more of Parent and its Restricted Subsidiaries
in an aggregate outstanding principal amount of $15,000,000 or more.

 

“Material
Intellectual Property” has the meaning given thereto in the Pledge and Security Agreement.

 

“Material
Real Estate Asset” means any fee-owned Real Estate Asset (a) having a Fair Market Value in excess of $3,000,000 or (b)
on which Parent or any of its Restricted Subsidiaries operates a material (as reasonably determined by the Collateral Agent in
consultation with Parent) waste disposal facility.

 

“Material
Vessel” means (i) any Vessel that is documented with the NVDC, under the law and flag of the United States, with a coastwise
endorsement and is entitled to engage in U.S. Coastwise Trade, and (ii) in the case of a Vessel that is not so documented with
the NVDC, any Vessel that has a Fair Market Value in excess of $1,000,000 and is registered under the laws of a state in the United
States whose vessel mortgage laws satisfy the requirements of 46 U.S.C. § 31322(d). For purposes of the Credit Documents,
the value of a Vessel shall be deemed to equal the Fair Market Value of such Vessel as reasonably determined by the Borrower Representative
in good faith (it being agreed, however, that such value shall not be less than the book value of such Vessel as reflected in
the most recently delivered financial statements of Parent and its Restricted Subsidiaries).

 

    	 	35	 

     

    

  

“Maturity
Date” means, (i) with respect to (a) the Initial Term Loans, the Initial Term Loan Maturity Date and (b) any other Class
of Term Loans, the maturity date specified therefor in the applicable Joinder Agreement, Extension Amendment or Permitted Refinancing
Amendment, and (ii) with respect to the Revolving Credit Commitments, the Scheduled Revolving Credit Commitment Termination Date
applicable thereto.

 

“MFN
Protection” as defined in Section 2.25(h)(iv).

 

“Minimum
Collateral Amount” means, at any time, (i) with respect to Cash Collateral consisting of cash or deposit account balances,
an amount equal to 103% of the Fronting Exposure and the Letter of Credit Obligations of an Issuing Bank with respect to Letters
of Credit issued and outstanding at such time (calculated, in the case of Alternate Currency Letters of Credit, based on the Dollar
Equivalent thereof), and (ii) otherwise, an amount determined by the Administrative Agent and the applicable Issuing Bank in their
reasonable discretion.

 

“Moody’s”
means Moody’s Investors Service, Inc.

 

“Mortgage”
means a Mortgage substantially in the form of Exhibit I or otherwise reasonably acceptable to the Collateral Agent.

 

“Mortgaged
Property” means each Material Real Estate Asset for which a Mortgage is required pursuant to Section 5.12.

 

“Mortgaged
Vessels” means all Material Vessels from time to time mortgaged or required to be mortgaged as security for the Obligations
pursuant to this Agreement.

 

“Multiemployer
Plan” means any “multiemployer plan” as defined in Section 4001(a)(3) of ERISA which is sponsored, maintained
or contributed to by, or required to be contributed to by, Parent or any of its Restricted Subsidiaries or any of their respective
ERISA Affiliates, or with respect to which Parent or any of its Restricted Subsidiaries has any material liability.

 

“NAIC”
means The National Association of Insurance Commissioners, and any successor thereto.

 

“Narrative
Report” means, with respect to the financial statements for which such narrative report is required, a narrative report
describing the operations of Parent and its Restricted Subsidiaries in the form prepared for presentation to senior management
thereof for the applicable month, Fiscal Quarter or Fiscal Year and for the period from the beginning of the then current Fiscal
Year to the end of such period to which such financial statements relate.

 

“Net
Cash Proceeds” means the net proceeds received in cash or Cash Equivalents by Parent or any of its Restricted Subsidiaries
with respect to any Disposition or Casualty/Condemnation Event, in each case, in an amount equal to:

 

(a)
the aggregate amount of all payments in cash or Cash Equivalents (including any cash or Cash Equivalents received by way of release
from escrow or deferred payment pursuant to, or by monetization of, a note receivable or otherwise, but only as and when so received)
received by Parent or any of its Restricted Subsidiaries from such Disposition or Casualty/Condemnation Event, as applicable,
minus

 

    	 	36	 

     

    

 

(b)
(i) any costs, fees and expenses actually incurred (or estimated in good faith by the Borrower Representative to be incurred within
180 days of such Disposition and/or Casualty/Condemnation Event; provided, if not actually incurred within such 180 day
period, the amount thereof shall be added back to Net Cash Proceeds) in connection with such Disposition or Casualty/Condemnation
Event, as applicable, (ii) sales, transfer, income, gains or other taxes payable (or estimated in good faith by the Borrower Representative
to become payable) in connection with such Disposition or Casualty/Condemnation Event, as applicable, or in connection with the
repatriation of such cash payments, (iii) any actual and reasonable costs incurred (or estimated in good faith by the Borrower
Representative to be incurred) by Parent or any of its Restricted Subsidiaries in connection with the adjustment or settlement
of any claims of Parent, the Borrowers or such Restricted Subsidiary in respect of such Casualty/Condemnation Event, (iv) payment
of the outstanding principal amount of, premium or penalty, if any, and interest on any Indebtedness (other than the Loans) that
is secured by a Lien on the Equity Interests or assets in question and that is required to be repaid (or to establish an escrow
for the future repayment thereof) under the terms thereof as a result of such Disposition or Casualty/Condemnation Event, as applicable,
(v) a reserve established in accordance with GAAP against any adjustment to the sale price or any liabilities (other than any
taxes deducted pursuant to clause (ii) above) related to any of the applicable assets and retained by Parent or the applicable
Restricted Subsidiary, including pension and other post-employment benefit liabilities or other liabilities related to environmental
matters or for any indemnification payments (fixed or contingent) attributable to seller’s indemnities and representations
and warranties to purchaser in respect of such Disposition undertaken by Parent or any of its Restricted Subsidiaries in connection
with such Disposition; provided, upon release of any such reserve, the amount released shall be considered Net Cash Proceeds,
(vi) amounts required to be turned over to landlords (or their mortgagees) pursuant to the terms of any lease to which Parent
or any of its Restricted Subsidiaries is party in connection with such Disposition or Casualty/Condemnation Event, (vii) the out
of pocket or other customary expenses, costs and fees incurred (or estimated in good faith by the Borrower Representative to be
incurred within 180 days of such Disposition and/or Casualty/Condemnation Event; provided, if not actually incurred within
such 180 day period, the amount thereof shall be added back to Net Cash Proceeds) with respect to legal, investment banking, brokerage,
advisor and accounting and other professional fees, sales commissions and disbursements, in each case in connection with such
Disposition or Casualty/Condemnation Event, as applicable, and payable to a Person that is not an Affiliate of Parent (other than
any expenses required to reimburse Sponsor or its Controlled Investment Affiliates in connection with such transaction (to the
extent such reimbursement is permitted hereby)), (viii) in the case of any such Disposition or Casualty/Condemnation Event, as
applicable, by or with respect to a non-wholly-owned Restricted Subsidiary, the pro rata portion of the Net Cash Proceeds thereof
(calculated without regard to this clause (viii)) attributable to minority interests and not available for distribution to or
for the account of the Borrowers or a wholly-owned Restricted Subsidiary as a result thereof and (ix) with respect to any Disposition
by or Casualty/Condemnation Event with respect to a Restricted Subsidiary of the Borrowers requiring prepayment of Loans pursuant
to Section 2.14(a), the amount of taxes payable (or tax distributions to or by Parent) as a result of any dividends or distributions
by any Restricted Subsidiary of proceeds thereof.

 

For
purposes of Section 2.14(a), any amount determined in accordance with the foregoing shall not constitute “Net Cash Proceeds”
in any Fiscal Year until the aggregate amount of all such amounts in such Fiscal Year exceed $2,500,000.

 

“NFIP”
means the National Flood Insurance Program created by the U.S. Congress pursuant to the National Flood Insurance Act of 1968
and the Flood Disaster Protection Act of 1973, as revised by the National Flood Insurance Reform Act of 1994 and the Flood Insurance
Reform Act of 2004, that mandates the purchase of flood insurance to cover real property improvements located in Special Flood
Hazard Areas in participating communities and provides protection to property owners through a federal insurance program.

 

    	 	37	 

     

    

  

“Non-Consenting
Lender” means any Lender that does not approve any consent, waiver or amendment that (i) requires the approval of all
affected Lenders in accordance with the terms of Section 10.5(b) or 10.5(c) and (ii) has been approved by the Required Lenders.

 

“Non-Debt
Fund Affiliate” means an Affiliated Lender that is not a Debt Fund Affiliate.

 

“Non-Defaulting
Lender” means, at any time, each Lender that is not a Defaulting Lender at such time.

 

“Non-Public
Information” means information which has not been disseminated in a manner making it available to investors generally,
within the meaning of Regulation FD.

 

“Not
Otherwise Applied” shall mean, with reference to any amount of proceeds of any transaction or event, that such amount
(a) was not required to be applied to prepay the Loans or any other Indebtedness and (b) was not previously applied
or committed to be applied in determining the permissibility of a transaction under the Credit Documents where such permissibility
was (or may have been) contingent on receipt of such amount or utilization of such amount for a specified purpose.

 

“Note”
means a Term Loan Note, a Revolving Loan Note, a Swing Line Note or an Incremental Term Loan Note.

 

“Notice”
means a Funding Notice, an Issuance Notice, or a Conversion/Continuation Notice.

 

“Notice
Office” means the office of the Administrative Agent set forth on Appendix B hereto, or such other office as the Administrative
Agent may hereafter designate in writing as such to the other parties hereto.

 

“NRC
Borrower” as defined in the preamble hereto.

 

“NRC
Holdings” as defined in the preamble hereto.

 

“NRC
Letters of Credit” means the following letters of credit issued by BNP Paribas for the account of the NRC Borrower:
(i) Letter of Credit No. CH-CO-TR-04146623-00 in an original amount of $639,244.77, for the benefit of the State of Vermont, (ii)
Letter of Credit No. CH-CO-TR-04146624-00 in an original amount of $204,586.59, for the benefit of the Maine Department of Environmental
Protection and (iii) Letter of Credit No. 04151217 in an original amount of $720,000.00 for the benefit of Zurich American Insurance
Company.

 

“NVDC”
means the United States Coast Guard National Vessel Documentation Center, or any successor thereto.

 

“Obligations”
means all obligations of every nature of each Credit Party from time to time owed to any Agent (including any former Agent),
any Lender, any Issuing Bank, any Eligible Counterparty or any Cash Management Bank under any Credit Document, Secured Swap Contract
or Cash Management Agreement, whether for principal, interest (including interest which, but for the filing of a petition in any
proceeding under any Debtor Relief Law with respect to such Credit Party, would have accrued on any Obligation, whether or not
a claim is allowed against such Credit Party for such interest in such proceeding), reimbursement of amounts drawn under Letters
of Credit, payments for early termination of Secured Swap Contracts, fees, expenses, indemnification or otherwise, in each case,
other than any Excluded Swap Obligations.

 

    	 	38	 

     

    

  

“Obligee
Guarantor” as defined in Section 7.7.

 

“OFAC”
means the US Department of Treasury Office of Foreign Assets Control, or any successor thereto.

 

“Organizational
Documents” means (i) with respect to any corporation, its certificate or articles of incorporation or organization and
its by-laws; (ii) with respect to any limited partnership, its certificate of limited partnership and its partnership agreement;
(iii) with respect to any general partnership, its partnership agreement; (iv) with respect to any limited liability company,
its articles of organization and its operating agreement; and (v) with respect to any Person that is any other type of entity,
such organizational documents as are comparable to the foregoing. If any term or condition of this Agreement or any other Credit
Document requires any Organizational Document to be certified by a Governmental Authority, the reference to any such “Organizational
Document” shall only be to a document of a type customarily certified by such Governmental Authority.

 

“Other
Applicable Debt” as defined in Section 2.14(i).

 

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

 

“Other
Taxes” means all present or future stamp, court or documentary, intangible, recording, filing or similar Taxes that
arise from any payment made under, from the execution, delivery, performance, enforcement or registration of, from the receipt
or perfection of a security interest under, or otherwise with respect to, any Credit Document, except any such Taxes that are
Other Connection Taxes imposed with respect to an assignment (other than an assignment made pursuant to Section 2.23).

 

“Other
Term Loans” as defined in Section 2.25(h).

 

“Parent”
as defined in the preamble hereto.

 

“Participant”
as defined in Section 10.6(d).

 

“Participant
Register” as defined in Section 10.6(d).

 

“PATRIOT
Act” means USA PATRIOT Improvement and Reauthorization Act, Title III of Pub. L. 109-177.

 

“Payment
Office” means the office of the Administrative Agent set forth on Appendix B hereto, or such other office as the Administrative
Agent may hereafter designate in writing as such to the other parties hereto.

 

“PBGC”
means the Pension Benefit Guaranty Corporation or any successor thereto.

 

“Pension
Plan” means any Employee Benefit Plan other than a Multiemployer Plan, that is subject to Section 412 of the Code or
Section 302 of ERISA.

 

“Permitted
Acquisition” as defined in Section 6.6(r).

 

    	 	39	 

     

    

  

“Permitted
Acquisition Consideration” means the purchase consideration for any Permitted Acquisition payable by Parent or any of
its Restricted Subsidiaries and all other payments by Parent or any of its Restricted Subsidiaries in exchange for, or as part
of, or in connection with, any Permitted Acquisition, whether paid in cash, by way of Seller Notes or by exchange of Equity Interests
or of properties or otherwise and whether payable at or prior to the consummation of such Permitted Acquisition or deferred for
payment at any future time, whether or not any such future payment is subject to the occurrence of any contingency, and includes
any and all payments representing the purchase price and any assumptions of Indebtedness.

 

“Permitted
Credit Agreement Refinancing Indebtedness” as defined in Section 6.1(v).

 

“Permitted
Cure Securities” means Equity Interests in Parent that are not Disqualified Equity Interests.

 

“Permitted
Encumbrance” as defined in Section 6.2(b).

 

“Permitted
Lien” means each Lien permitted pursuant to Section 6.2.

 

“Permitted
Maritime Liens“ means the following Liens on any Vessel: (a) Liens in respect of which a bond or other security has
been posted by or on behalf of a Credit Party to prevent the arrest of a Vessel, or to secure the release of a Vessel from arrest;
(b) Liens for master’s and crew’s wages, if not yet due and payable (except for such liens being contested in good
faith by appropriate proceedings, in which case the Credit Parties shall have set aside on their books reserves in accordance
with GAAP, and provided always that such deferment does not subject a Vessel to arrest); (c) Liens for necessaries (as defined
in 46 USC § 31301) and other Liens arising by operation of law in operating, maintaining and repairing the Vessels incurred
in the ordinary course of business that have accrued for a period not exceeding sixty (60) days, the payments for which are not
by their respective terms overdue (except for such liens being contested in good faith by appropriate proceedings, in which case
the Credit Parties shall have set aside on their books reserves in accordance with GAAP, and provided always that such deferment
does not subject a Vessel to arrest); (d) Liens for general average, salvage and contract salvage and for wages of stevedores
employed by any Credit Party, the master of the applicable Vessel or a permitted charterer thereof; (e) Liens in favor of a charterer
of a Vessel arising by operation of law; (f) Liens that, as indicated by the written admission of liability therefor by an insurance
company, are covered by insurance; and (g) Liens for damages arising from maritime torts which are unclaimed, or which are covered
by insurance, or in respect of which a bond or other security has been posted by or on behalf of a Credit Party to prevent the
arrest of a Vessel, or to secure the release of a Vessel from arrest; provided, that any Liens described in clauses
(c) through (f) above on any Mortgaged Vessel shall constitute Permitted Maritime Liens only if subordinate to the lien of the
Vessel Mortgage on such Vessel, or if they constitute maritime liens which would in any event be entitled to priority over such
Vessel Mortgage under applicable law.

 

“Permitted
Pari Passu Refinancing Indebtedness” as defined in Section 6.1(v).

 

“Permitted
Refinancing” as defined in Section 6.1(u).

 

“Permitted
Refinancing Amendment” means an amendment to this Agreement (which may, at the option of the Administrative Agent and
the Borrower Representative, be in the form of an amendment and restatement of this Agreement) in form and substance reasonably
satisfactory to the Administrative Agent and the Borrower Representative executed by the Borrowers, the Administrative Agent,
each Permitted Refinancing Lender and Lender that agrees to provide any portion of the Permitted Credit Agreement Refinancing
Indebtedness being incurred pursuant to Section 2.26, and, in the case of Permitted Refinancing Revolving Credit Commitments or
Permitted Refinancing Revolving Loans, the applicable Issuing Bank and the Swing Line Lender.

 

    	 	40	 

     

    

  

“Permitted
Refinancing Commitments” means the Permitted Refinancing Revolving Credit Commitments and the Permitted Refinancing
Term Loan Commitments.

 

“Permitted
Refinancing Lender” means, at any time, any bank, other financial institution or institutional investor that agrees
to provide any portion of any Permitted Credit Agreement Refinancing Indebtedness pursuant to a Permitted Refinancing Amendment
in accordance with Section 2.26; provided, (i) each Permitted Refinancing Lender shall be subject to the approval (not
to be unreasonably withheld, conditioned or delayed) of the Administrative Agent and, in the case of Permitted Refinancing Revolving
Credit Commitments or Permitted Refinancing Revolving Loans, the Issuing Bank and the Swing Line Lender, in each case, to the
extent any such consent would be required under Section 10.6(b) for an assignment of Loans or Commitments to such Permitted Refinancing
Lender, and (ii) the provision of any Permitted Credit Agreement Refinancing Indebtedness by a Permitted Refinancing Lender that
is an Affiliated Lender shall be subject to the conditions set forth in Section 10.6(g).

 

“Permitted
Refinancing Loans” means the Permitted Refinancing Revolving Loans and the Permitted Refinancing Term Loans.

 

“Permitted
Refinancing Revolving Credit Commitments” means one or more classes of revolving credit commitments hereunder or extended
Revolving Credit Commitments that result from a Permitted Refinancing Amendment.

 

“Permitted
Refinancing Revolving Loans” means the Revolving Loans made pursuant to any Permitted Refinancing Revolving Credit Commitment.

 

“Permitted
Refinancing Term Loan Commitments” means one or more classes of term loan commitments hereunder that result from a Permitted
Refinancing Amendment.

 

“Permitted
Refinancing Term Loans” means one or more classes of Term Loans that result from a Permitted Refinancing Amendment.

 

“Person”
means and includes natural persons, corporations, limited partnerships, general partnerships, limited liability companies,
limited liability partnerships, joint stock companies, joint ventures, associations, companies, trusts, banks, trust companies,
land trusts, business trusts or other organizations, whether or not legal entities, and Governmental Authorities.

 

“Plan”
has the meaning specified in Section 10.6(f)(iii).

 

“Platform”
as defined in Section 10.1(d).

 

“Pledge
and Security Agreement” means the Pledge and Security Agreement, dated as of the Closing Date, substantially in the
form of Exhibit H.

 

“Prime
Rate” means the rate of interest per annum that BNP Paribas announces from time to time as its prime lending rate, as
in effect from time to time. The Prime Rate is a reference rate and does not necessarily represent the lowest or best rate actually
charged to any customer. BNP Paribas or any other Lender may make commercial loans or other loans at rates of interest at, above
or below the Prime Rate.

 

“Pro
Forma Basis” as determined in accordance with Section 1.7.

 

    	 	41	 

     

    

 

“Pro
Forma Compliance Certificate” means a Pro Forma Compliance Certificate substantially in the form of Exhibit C-2 or otherwise
in form reasonably acceptable to the Administrative Agent.

 

“Pro
Forma Cost Savings” as defined in the definition of Consolidated Adjusted EBITDA.

 

“Projections”
means the projections of Parent and its Restricted Subsidiaries on a quarterly basis for the first Fiscal Quarters after the
Closing Date through 2019, and on annual basis thereafter to and including 2024.

 

“Pro
Rata Share” means, with respect to any Lender, (i) with respect to all payments, computations and other matters relating
to each Term Loan Facility, the percentage obtained by dividing (a) the Term Loan Exposure of such Lender under such Term Loan
Facility by (b) the aggregate Term Loan Exposure of all of the Lenders under such Term Loan Facility; and (ii) with respect to
all payments, computations and other matters relating to the Revolving Credit Commitment or Revolving Loans of such Lender or
any Letters of Credit issued or participations purchased therein by such Lender or any participations in any Swing Line Loans
purchased by such Lender, the percentage obtained by dividing (a) the Revolving Credit Exposure of such Lender by (b) the aggregate
Revolving Credit Exposure of all of the Lenders. For all other purposes with respect to each Lender, “Pro Rata Share”
means the percentage obtained by dividing (A) an amount equal to the sum of the Term Loan Exposure under each Term Loan Facility
and the Revolving Credit Exposure of such Lender, by (B) an amount equal to the sum of the aggregate Term Loan Exposure under
each Term Loan Facility and the aggregate Revolving Credit Exposure of all of the Lenders.

 

“Progressive”
means, collectively, Progressive Environmental Services, Inc., a Delaware corporation, and its Subsidiaries.

 

“Progressive
Acquisition” means the acquisition, by way of a merger, by the NRC Borrower of all Equity Interests of Progressive.

 

“Public
Lender” means a Lender that does not wish to receive material Non-Public Information with respect to Parent or its Restricted
Subsidiaries or any of their Securities.

 

“Purchase
Money Indebtedness” means Indebtedness of a Person incurred for the purpose of financing all or any part of the purchase
price or cost of acquisition, repair, construction or improvement of property or assets used or useful in the business of such
Person or any of its Subsidiaries and/or Affiliates.

 

“Qualified
ECP Credit Party” means, in respect of any Swap Contract, each Credit Party that has total assets exceeding $10,000,000
at the time such Swap Contract is incurred.

 

“Qualified
IPO” means (i) the issuance by any Ultimate Parent Company or Parent of its Securities in an underwritten primary public
offering (other than a public offering pursuant to a registration statement on Form S-8) pursuant to an effective registration
statement filed with the Securities and Exchange Commission in accordance with the Securities Act (whether alone or in connection
with a secondary public offering) or (ii) the consummation of a SPAC Transaction.

 

“Real
Estate Asset” means an interest (fee, leasehold or otherwise) in any real property.

 

“Real
Property Facility” means any real property (including all buildings, fixtures or other improvements located thereon)
owned, leased, operated or used by Parent or any of its Restricted Subsidiaries.

 

    	 	42	 

     

    

 

 “Recipient”
means (i) any Agent, (ii) any Lender or (iii) an Issuing Bank, as applicable.

 

“Refunded
Swing Line Loans” as defined in Section 2.3(g).

 

“Register”
as defined in Section 10.6(c).

 

“Registered
Equivalent Notes” means, with respect to any notes originally issued in an offering pursuant to Rule 144A under the
Securities Act or other private placement transaction under the Securities Act, substantially identical notes (having the same
guarantees) issued in a dollar-for-dollar exchange therefor pursuant to an exchange offer registered with the SEC.

 

“Regulation
D” means Regulation D of the Board of Governors, as in effect from time to time.

 

“Regulation
FD” means Regulation FD as promulgated by the U.S. Securities and Exchange Commission under the Securities Act and Exchange
Act as in effect from time to time.

 

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

 

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

 

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

 

“Reimbursement
Date” as defined in Section 2.4(d).

 

“Related
Business Assets” means any property, plant, equipment or other assets to be used or useful by Parent or its Restricted
Subsidiaries in any business permitted under Section 6.12 or capital expenditures relating thereto.

 

“Related
Parties” means, with respect to any Person, such Person’s Affiliates and the partners, directors, officers, employees,
agents, trustees, administrators, managers, advisors and representatives of such Person and of such Person’s Affiliates.

 

“Related
Transactions” means the Closing Date Contribution, the payment of the 2018 Dividend and the other transactions consummated
(or to be consummated) pursuant thereto and the payment of the Transaction Costs.

 

“Release”
means any release, spill, emission, leaking, pumping, pouring, injection, escaping, deposit, disposal, discharge, dispersal,
dumping, leaching or migration of any Hazardous Material into the indoor or outdoor environment (including the abandonment or
disposal of any barrels, containers or other closed receptacles containing any Hazardous Material), including the movement of
any Hazardous Material through the air, soil, surface water or groundwater.

 

“Relevant
Public Company” means Parent or any Ultimate Parent Company that (in each case) is (or is to be) the registrant with
respect to a Qualified IPO.

 

“Remaining
Obligations” means, as of any date of determination, the Obligations that as of such date of determination are (i) Obligations
under the Credit Documents that expressly survive termination of the Credit Documents by the terms thereof, but as of such date
of determination are not due and payable and for which no claims have been made, (ii) Obligations in respect of Secured Swap
Contracts, and (iii) Cash Management Obligations.

 

    	 	43	 

     

    

  

“Removal
Effective Date” as defined in Section 9.6(b).

 

“Repricing
Event” as defined in Section 2.11(h).

 

“Required
Lenders” means, as of any date of determination, one or more Lenders having or holding Term Loan Exposure under each
Term Loan Facility and/or Revolving Credit Exposure and representing more than 50% of the sum of (i) the aggregate Term Loan Exposure
of all of the Lenders under all Term Loan Facilities, and (ii) the aggregate Revolving Credit Exposure of all of the Lenders;
provided, (a) the Term Loan Exposure under any Term Loan Facility and/or Revolving Credit Exposure, as applicable, of any
Defaulting Lender shall be disregarded in determining Required Lenders at any time; and (b) any determination of Required Lenders
with respect to Affiliated Lenders shall be subject to Section 10.6(f).

 

“Required
Prepayment Date” as defined in Section 2.15(d).

 

“Required
Revolving Lenders” means, as of any date of determination, one or more of the Lenders having or holding Revolving Credit
Exposure and representing more than 50% of the aggregate Revolving Credit Exposure of all of the Lenders; provided, (a)
the Revolving Credit Exposure of any Defaulting Lender shall be disregarded in determining Required Revolving Lenders at any time
and (b) at any time that there are two or more Revolving Lenders party to this Agreement, the term “Required Revolving Lenders”
must include at least two Revolving Lenders (Lenders that are Affiliates or Approved Funds of each other shall be deemed to be
a single Lender for purposes of this clause (b)).

 

“Resignation
Effective Date” as defined in Section 9.6(a).

 

“Restricted
Payment” means any dividend or other distribution (whether in cash, securities or other property) with respect to any
Equity Interest of Parent or any of its Restricted Subsidiaries, or any payment (whether in cash, securities or other property),
including any sinking fund or similar deposit, on account of the purchase, redemption, retirement, defeasance, acquisition, cancellation
or termination of any such Equity Interest, or on account of any return of capital to Parent’s or a Restricted Subsidiary’s
stockholders, partners or members (or the equivalent Persons thereof).

 

“Restricted
Subsidiary” means a Subsidiary of Parent that is not an Unrestricted Subsidiary.

 

“Returns”
means, with respect to any Investment, any dividends, distributions, interest, fees, premium, return of capital, repayment
of principal, income, profits (from a Disposition or otherwise (but excluding any Disposition to Parent or any of its Restricted
Subsidiaries)) and other amounts received or realized in respect of such Investment, in each case on an after-tax basis, including
any amount received by Parent or its Restricted Subsidiaries upon (i) the redesignation of an Unrestricted Subsidiary as a Restricted
Subsidiary, (ii) the merger or consolidation of an Unrestricted Subsidiary into a Borrower or a Restricted Subsidiary (so long
as such Borrower or such Restricted Subsidiary is the surviving entity), or (iii) the transfer of assets by an Unrestricted Subsidiary
or any joint venture to a Borrower or a Restricted Subsidiary (up to the Fair Market Value thereof as determined in good faith
by the Borrower Representative).

 

“Revaluation
Date” means, with respect to any Alternate Currency Letter of Credit, each of the following: (i) each date of issuance
of an Alternate Currency Letter of Credit, (ii) each date of an amendment of any Alternate Currency Letter of Credit having the
effect of increasing the amount thereof (solely with respect to the increased amount), (iii) each date of any payment by an Issuing
Bank under any Alternate Currency Letter of Credit, and (iv) such additional dates as the Administrative Agent or an applicable
Issuing Bank shall reasonably determine in good faith or the required Revolving Lenders shall require pursuant to a written notice
to the Administrative Agent.

 

    	 	44	 

     

    

  

“Revolving
Credit Commitment” means the commitment of a Lender to make or otherwise fund any Revolving Loan and to acquire participations
in Letters of Credit and Swing Line Loans hereunder and “Revolving Credit Commitments” means such commitments of all
of the Lenders in the aggregate. The amount of each Lender’s Revolving Credit Commitment, if any, is set forth on Appendix
A-2 or in the applicable Assignment and Assumption or Joinder Agreement, if applicable subject to any adjustment or reduction
pursuant to the terms and conditions hereof. The aggregate amount of the Revolving Credit Commitments as of the Closing Date is
$40,000,000. Unless the context shall otherwise require, the term “Revolving Credit Commitment” shall include any
Incremental Revolving Credit Commitment, Extended Revolving Credit Commitment or Permitted Refinancing Revolving Credit Commitment.

 

“Revolving
Credit Commitment Period” means the period from the Closing Date to but excluding the Revolving Credit Commitment Termination
Date.

 

“Revolving
Credit Commitment Termination Date” means the earliest to occur of (i) the Scheduled Revolving Credit Commitment Termination
Date, (ii) the date the Revolving Credit Commitments are permanently reduced to zero pursuant to Section 2.13(b) or 2.14, and
(iii) the date of the termination of the Revolving Credit Commitments pursuant to Section 8.2.

 

“Revolving
Credit Exposure” means, with respect to any Lender as of any date of determination, (i) prior to the termination of
the Revolving Credit Commitments, such Lender’s Revolving Credit Commitment; and (ii) after the termination of the Revolving
Credit Commitments, the sum, without duplication, of (a) the aggregate outstanding principal amount of the Revolving Loans of
such Lender, (b) in the case of an Issuing Bank, the aggregate Letter of Credit Obligations in respect of all Letters of Credit
issued by such Lender (net of any participations by the Lenders in such Letters of Credit), (c) the aggregate amount of all participations
by such Lender in any outstanding Letters of Credit or any unreimbursed drawing under any Letter of Credit, (d) in the case of
the Swing Line Lender, the aggregate outstanding principal amount of all Swing Line Loans (net of any participations therein by
the Lenders), and (e) the aggregate amount of all participations therein by such Lender in any outstanding Swing Line Loans.

 

“Revolving
Credit Facility” means the Revolving Credit Commitments and the extensions of credit made thereunder.

 

“Revolving
Credit Limit” means, as of any date of determination, the aggregate amount of the Revolving Credit Commitments as of
such date.

 

“Revolving
Lender” means a Lender holding a Revolving Commitment or Revolving Loans.

 

“Revolving
Loan” means a Loan made by a Lender to the Borrowers pursuant to Section 2.2(a) or 2.25(d), and unless the context shall
otherwise require, the term “Revolving Loan” shall include any Extended Revolving Loan, Permitted Refinancing Revolving
Loan or Incremental Revolving Loan.

 

“Revolving
Loan Note” means a promissory note in the form of Exhibit B-2 or otherwise reasonably acceptable to the Administrative
Agent.

 

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

 

    	 	45	 

     

    

 

 

“Sanctioned
Country” means, at any time, a country or territory which is, or whose government is, the subject or target of any Sanctions
broadly restricting or prohibiting dealings with such country, territory or government.

 

“Sanctioned
Person” means, at any time, any Person with whom dealings are restricted or prohibited under Sanctions, including (i)
any Person listed in any Sanctions-related list of designated Persons maintained by the United States (including by the Office
of Foreign Assets Control of the U.S. Department of the Treasury, the U.S. Department of State, or the U.S. Department of Commerce),
the United Nations Security Council, the European Union or any of its member states, Her Majesty’s Treasury, Switzerland
or any other relevant Governmental Authority, (ii) any Person organized under the laws of or resident in, or any Governmental
Entity or governmental instrumentality of, a Sanctioned Country or (iii) any Person 25% or more directly or indirectly owned by,
controlled by, or acting for the benefit or on behalf of, any Person described in clauses (i) or (ii) hereof.

 

“Sanctions”
means economic or financial sanctions or trade embargoes or restrictive measures enacted, imposed, administered or enforced
from time to time by (i) the U.S. government, including those administered by the Office of Foreign Assets Control of the U.S.
Department of the Treasury, the U.S. Department of State, or the U.S. Department of Commerce; (ii) the United Nations Security
Council; (iii) the European Union or any of its member states; (iv) Her Majesty’s Treasury; (v) Switzerland; or (vi) any
other relevant Governmental Authority.

 

“Scheduled
Revolving Credit Commitment Termination Date” means (i) with respect to the portion of the Revolving Credit Commitments
of the Revolving Lenders that have not been extended pursuant to Section 2.24, June 11, 2023, and (ii) with respect to any Extended
Revolving Credit Commitments or Permitted Refinancing Revolving Credit Commitment, the maturity date specified therefor in the
applicable Extension Amendment or Permitted Refinancing Amendment.

 

“Secured
Parties” has the meaning assigned to that term in the Pledge and Security Agreement.

 

“Secured
Swap Contract” means any Swap Contract permitted under Section 6.1 that is entered into by and between Parent, a Borrower
or any Guarantor Subsidiary and any Eligible Counterparty, to the extent designated by the Borrower Representative and such Eligible
Counterparty as a “Secured Swap Contract” in writing to the Administrative Agent. The designation of any Secured Swap
Contract shall not create in favor of such Eligible Counterparty any rights in connection with the management or release of Collateral
or of the obligations of any Guarantor under the Credit Documents.

 

“Securities”
means any stock, shares, partnership interests, voting trust certificates, certificates of interest or participation in any
profit-sharing agreement or arrangement, options, warrants, bonds, debentures, notes, or other evidences of indebtedness, secured
or unsecured, convertible, subordinated or otherwise, or in general any instruments commonly known as “securities”
or any certificates of interest, shares or participations in temporary or interim certificates for the purchase or acquisition
of, or any right to subscribe to, purchase or acquire, any of the foregoing.

 

“Securities
Act” means the Securities Act of 1933, and any successor statute.

 

“Securities
and Exchange Commission” means the U.S. Securities and Exchange Commission, or any successor thereto.

 

“Securitization”
means a public or private offering by a Lender or any of its Affiliates or their respective successors and assigns, of Securities
which represent an interest in, or which are collateralized, in whole or in part, by the Loans.

 

    	 	46	 

     

    

  

“Securitization
Party” means any Person that is a trustee, collateral manager, servicer, backup servicer, noteholder or other security
holder, secured party, counterparty to a Securitization related Swap Contract, or other participant in a Securitization.

 

“Seller
Note” means unsecured Indebtedness that is issued to satisfy a portion of the purchase price of a Permitted Acquisition,
and that (i) is subordinated to the Obligations (other than Remaining Obligations) under the Credit Documents on terms and conditions
reasonably acceptable to the Administrative Agent (which such subordination terms and conditions, in any event, shall, without
limitation, prohibit Parent or any of its Restricted Subsidiaries from making any payment of principal thereof and interest or
other amount due thereunder while an Event of Default has occurred and is continuing at the time of such payment or would arise
as a result of such payment of interest or other amount), and (ii) has a scheduled maturity date not earlier than the date that
is six months after the latest Maturity Date then in effect.

 

“Solvency
Certificate” means a Solvency Certificate substantially in the form of Exhibit L or otherwise in form reasonably acceptable
to the Administrative Agent.

 

“Solvent”
as defined in the Solvency Certificate.

 

“SPAC”
means a special purpose acquisition company whose shares are publicly traded and that was formed for the purpose of acquiring
an entity or business.

 

“SPAC
Transaction” means a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or other business
combination between an Ultimate Parent Company or Parent, on the one hand, and a SPAC, on the other hand, or the acquisition by
a SPAC of a majority of the Securities or Equity Interests or assets of any Ultimate Parent Company or Parent; provided that (A)
such SPAC shall have no assets (other than proceeds from its initial public offering, the private placement of securities in connection
therewith and working capital loans made by the SPAC’s sponsor, management team or their respective Affiliates) and no liabilities
or obligations (other than ordinary course payables to vendors, professionals, consultants and other advisors, deferred underwriting
fees incurred in connection with its initial public offering and otherwise to the extent arising from the rights of the SPAC’s
public shareholders to redeem their shares and receive liquidating distributions under specified circumstances), and its assets
shall be subject to no Liens, and (B) in the case of a transaction in which the SPAC is the surviving entity or the Ultimate Parent
Company (i) such SPAC shall be organized under the Laws of the United States, any State thereof or the District of Columbia, (ii)
the Administrative Agent shall have received (x) fully executed assumption documentation in connection therewith and, to the extent
reasonably requested by the Administrative Agent, customary opinions of counsel with respect thereto and (y) solely to the extent
specifically requested of the Borrower Representative by the Administrative Agent at least ten (10) days prior to the date of
the SPAC Transaction, all documentation and other information necessary for regulatory compliance clearance, including, without
limitation, in respect of applicable know your customer and anti-money laundering rules and regulations and the PATRIOT Act and
(iii) in accordance with the requirements set forth in Section 5.11 (as if such SPAC has become a Restricted Subsidiary), such
SPAC shall become a Borrower or a Guarantor for all purposes under this Agreement and shall become a grantor under the Pledge
and Security Agreement substantially concurrently with the consummation of the SPAC Transaction.

 

“Spot
Rate” for a currency means the rate reasonably determined in good faith by the Administrative Agent or the applicable
Issuing Bank, as applicable, to be the rate quoted by the Person acting in such capacity as the applicable sport rate for the
purchase by such Person of such currency with another currency through its principal foreign exchange trading office at approximately
11:00 a.m. on the date three (3) Business Days prior to the date as of which the foreign exchange computation is made or if such
rate cannot be computed as of such date such other date as the applicable Person shall reasonably determine is reasonably appropriate
under the circumstances; provided that the Administrative Agent or the applicable Issuing Bank may obtain such spot rate from
another financial institution reasonably designated in good faith by such Person if such Person does not have as of the date of
determination a spot buying rate for any such currency.

 

    	 	47	 

     

    

  

“SPC”
as defined in Section 10.6(e)(ii).

 

“Special
Flood Hazard Area” means an area that FEMA’s current flood maps indicate has at least a one percent (1%) chance
of a flood equal to or exceeding the base flood elevation (a 100-year flood) in any given year.

 

“Specified
Event of Default” as defined in Section 6.11(e).

 

“Sponsor”
means J.F. Lehman & Company.

 

“Sprint
Borrower” as defined in the preamble hereto.

 

“Sprint
Holdings” as defined in the preamble hereto.

 

“Standby
Division” means the business division of Parent and its Restricted Subsidiaries engaged in the standby business.

 

“Subsequent
Transaction” as defined in Section 1.7(c).

 

“Subsidiary”
means, with respect to any Person, any corporation, partnership, limited liability company, association, joint venture or
other business entity of which more than 50% of the total voting power of shares of Equity Interests entitled (without regard
to the occurrence of any contingency) to vote in the election of the Person or Persons (whether members of the Board of Directors,
managers, trustees or other Persons performing similar functions) having the power to direct or cause the direction of the management
and policies thereof is at the time owned or controlled, directly or indirectly, by that Person or one or more of the other Subsidiaries
of that Person or a combination thereof; provided, in determining the percentage of ownership interests of any Person controlled
by another Person, no ownership interest in the nature of a “qualifying share” of the former Person shall be deemed
to be outstanding. Unless otherwise specified herein, “Subsidiary” shall mean a Subsidiary of Parent.

 

“Swap
Contract” means (i) any and all rate swap transactions, basis swaps, credit derivative transactions, forward rate
transactions, commodity swaps, commodity options, forward commodity contracts, equity or equity index swaps or options, bond or
bond price or bond index swaps or options or forward bond or forward bond price or forward bond index transactions, interest rate
options, forward foreign exchange transactions, cap transactions, floor transactions, collar transactions, currency swap transactions,
cross-currency rate swap transactions, currency options, spot contracts, or any other similar transactions or any combination
of any of the foregoing (including any options to enter into any of the foregoing), whether or not any such transaction is governed
by or subject to any master agreement, and (ii) any and all transactions of any kind, and the related confirmations, which
are subject to the terms and conditions of, or governed by, any form of master agreement published by the International Swaps
and Derivatives Association, Inc., any International Foreign Exchange Master Agreement, or any other master agreement (any such
master agreement, together with any related schedules, a “Master Agreement”), including any such obligations
or liabilities under any Master Agreement.

 

    	 	48	 

     

    

  

“Swap
Obligation” means, with respect to any Guarantor, any obligation to pay or perform under any agreement, contract or
transaction that constitutes a “swap” within the meaning of section 1a(47) of the Commodity Exchange Act.

 

“Swap
Termination Value” means, in respect of any one or more Swap Contracts, after taking into account the effect of any
legally enforceable netting agreement relating to such Swap Contracts, (i) for any date on or after the date such Swap Contracts
have been closed out and termination value(s) determined in accordance therewith, such termination value(s), and (ii) for
any date prior to the date referenced in clause (i), the amount(s) determined as the mark-to-market value(s) for such Swap
Contracts, as determined based upon one or more mid-market or other readily available quotations provided by any recognized dealer
in such Swap Contracts (which may include a Lender or any Affiliate of a Lender).

 

“Swing
Line Lender” means BNP Paribas in its capacity as the Swing Line Lender hereunder, together with its permitted successors
and assigns in such capacity.

 

“Swing
Line Loan” means a Loan made by the Swing Line Lender to the Borrowers pursuant to Section 2.3.

 

“Swing
Line Loan Outstandings” means, at any time of calculation, then existing aggregate outstanding principal amount of Swing
Line Loans.

 

“Swing
Line Note” means a promissory note in the form of Exhibit B-3 or otherwise reasonably acceptable to the Administrative
Agent.

 

“Swing
Line Sublimit” means, as of any date of determination, the lower of the following amounts: (i) $10,000,000, and (ii)
the aggregate amount of the Revolving Credit Commitments as of such date minus the Total Utilization of Revolving Credit
Commitments as of such date.

 

“Syndication
Date” as defined in Section 2.8(b).

 

“Taxes”
means all present or future taxes, levies, imposts, duties, deductions, withholdings (including backup withholding), assessments,
fees or other charges imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable
thereto.

 

“Term
Loan” means an Initial Term Loan, Incremental Term Loan, Extended Term Loan or Permitted Refinancing Term Loan.

 

“Term
Loan Commitment” means an Initial Term Loan Commitment, Incremental Term Loan Commitment, Extended Term Loan Commitment
and Permitted Refinancing Term Loan Commitment.

 

“Term
Loan Exposure” means, in the case of any Term Loan Facility, as of any date of determination, the outstanding principal
amount of the Term Loans owing to a Lender under such Term Loan Facility; provided, at any time prior to the making of
such Term Loans under such Facility, the Term Loan Exposure of any Lender shall be equal to such Lender’s Term Loan Commitment
under such Term Loan Facility.

 

“Term
Loan Facility” means the Initial Term Loan Facility, the Incremental Term Loans, the Extended Term Loans, each credit
facility represented by Other Term Loans and each term loan credit facility established pursuant to a Permitted Refinancing Amendment.

 

    	 	49	 

     

    

 

 “Term
Loan Lender” means a Lender that has a Term Loan Commitment or that holds a Term Loan.

 

“Term
Loan Note” means a promissory note in the form of Exhibit B-1 or otherwise in form reasonably acceptable to the Administrative
Agent.

 

“Term
Loan Standstill Period” as defined in Section 8.1(c).

 

“Test
Period” means the most recently ended four Fiscal Quarter period for which financial statements have been delivered
to the Administrative Agent pursuant to Section 5.1(a) or 5.1(b), as applicable (or with respect to periods prior to the first
full Fiscal Year for which financial statements pursuant to Section 5.1(a) or 5.1(b) have been delivered, the four consecutive
Fiscal Quarters of Parent then last ended (including for periods prior to the Closing Date, any predecessor entity or entities,
in each case, as determined, calculated, consolidated, estimated or the like, in good faith by the Borrower Representative)).

 

“Title
Policy” means, with respect to any Mortgaged Property, an ALTA or TLTA, as applicable, mortgagee title insurance policy
or unconditional commitment therefor issued by one or more title companies reasonably satisfactory to the Collateral Agent with
respect to such Mortgaged Property, in an amount not less than the Fair Market Value of such Mortgaged Property, in form and substance
reasonably satisfactory to the Collateral Agent.

 

“Total
Utilization of Revolving Credit Commitments” means, as at any date of determination, the sum of (i) the aggregate principal
amount of all outstanding Revolving Loans (other than Revolving Loans made for the purpose of repaying any Refunded Swing Line
Loans or reimbursing the applicable Issuing Bank for any amount drawn under any Letter of Credit, but not yet so applied), (ii)
the aggregate principal amount of all outstanding Swing Line Loans, and (iii) the Letter of Credit Obligations.

 

“Trade
Date” has the meaning specified in Section 10.6(h)(i).

 

“Transaction
Costs” means the fees, costs and expenses incurred by Parent and its Restricted Subsidiaries in connection with the
consummation of the transactions to occur on the Closing Date contemplated by the Credit Documents or the Closing Date Contribution
Documents.

 

“Type
of Loan” means (i) with respect to either Term Loans or Revolving Loans, a Base Rate Loan or a Eurodollar Loan, and
(ii) with respect to Swing Line Loans, a Base Rate Loan.

 

“UCC”
means the Uniform Commercial Code as in effect from time to time in the State of New York; provided, if by reason of
mandatory provisions of Law, the perfection, the effect of perfection or non-perfection or the priority of the security interests
of the Collateral Agent in any Collateral is governed by the Uniform Commercial Code as in effect in a jurisdiction other than
New York, the term “UCC” shall mean the Uniform Commercial Code as in effect in such other jurisdiction for purposes
of the provisions hereof relating to such perfection, effect of perfection or non-perfection or priority.

 

“Ultimate
Parent Company” means (a) any Person controlled by the Sponsor or Controlled Investment Affiliates thereof that, directly
or indirectly, controls Parent (other than investment funds that are Affiliates of the Sponsor or its Controlled Investment Affiliates)
or (b) any Person that, directly or indirectly, controls Parent and Securities of which are publicly traded.

 

    	 	50	 

     

    

  

“Unrestricted
Subsidiary” means a direct or indirect Subsidiary of Parent designated as an Unrestricted Subsidiary pursuant to Section 5.13;
provided, in no event may a Borrower be designated as an Unrestricted Subsidiary. As of the Closing Date, there are no
Unrestricted Subsidiaries.

 

“U.S.
Citizen” means a Person that is a citizen of the United States within the meaning of 46 U.S.C. § 50501, and
the regulations promulgated thereunder (as each may be amended from time to time), eligible and qualified to own and operate vessels
in the U.S. Coastwise Trade.

 

“U.S.
Coastwise Trade” means the carriage or transport of merchandise and/or other materials and/or passengers in the coastwise
trade of the United States of America within the meaning of Chapter 551 of Title 46 of the United States Code.

 

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

 

“U.S.
Tax Compliance Certificate” has the meaning assigned to such term in paragraph (g) of Section 2.20.

 

“Vessel”
means any vessel, ship, boat, barge, or watercraft of any description owned by any Credit Party, and shall be deemed to include
all engines, machinery, tackle, apparel, boats, rigging, furniture, freights, tools, spare parts, pumps, equipment, and all other
appurtenances thereunto appertaining or belonging, whether now owned or hereafter acquired, whether on board or not, and all additions,
improvements and replacements hereafter made in or to any of the Vessels, or any part thereof, or in or to any of the appurtenances
aforesaid.

 

“Vessel
Mortgage” means a first priority (subject to Permitted Liens) preferred ship or fleet mortgage (as amended, restated,
amended and restated, supplemented or modified from time to time) creating and evidencing a Lien on a Mortgaged Vessel securing
the Obligations, which shall be in a form reasonably satisfactory to the Collateral Agent, in each case, including such provisions
as shall be necessary to create and perfect such Lien under applicable laws of the United States.

 

“Waivable
Mandatory Prepayment” as defined in Section 2.15(d).

 

“Waste
Disposal Division” means the business division of Parent and its Restricted Subsidiaries engaged in the waste disposal
business.

 

“Weighted
Average Life to Maturity” means, when applied to any Class of Term Loans or other Item of Indebtedness at any date,
the number of years obtained by dividing: (x) the sum of the products obtained by multiplying (i) the amount of each then remaining
installment, sinking fund, serial maturity or other required payments of principal, including payment at final maturity, in respect
thereof, by (ii) the number of years (calculated to the nearest one-twelfth) that will elapse between such date and the making
of such payment by (y) the then outstanding principal amount of such Indebtedness; provided, for purposes of determining
the Weighted Average Life to Maturity of any item of Indebtedness that is being modified, refinanced, refunded, renewed, replaced
or extended (the “Applicable Indebtedness”), the effects of any amortization or prepayments made on such Applicable
Indebtedness prior to the date of or in connection with the applicable modification, refinancing, refunding, renewal, replacement
or extension shall be disregarded.

 

“Withholding
Agent” means the Borrower Representative and the Administrative Agent.

 

    	 	51	 

     

    

  

“Write-Down
and Conversion Powers” means, with respect to any EEA Resolution Authority, the write-down and conversion powers of
such EEA Resolution Authority from time to time under the Bail-In Legislation for the applicable EEA Member Country, which write-down
and conversion powers are described in the EU Bail-In Legislation Schedule.

 

1.2
Accounting Terms. Except as otherwise expressly provided herein, all accounting terms not otherwise defined herein
shall have the meanings assigned to them in conformity with GAAP. Financial statements and other information required to be delivered
by Parent to the Administrative Agent pursuant to Section 5.1(a) and 5.1(b) shall be prepared in accordance with GAAP as in effect
at the time of such preparation (and delivered together with the reconciliation statements as required under Section 5.1(d), if
applicable) (except for the lack of footnotes and being subject to year-end and audit adjustments). If at any time any change
in GAAP would affect the computation of any financial ratio or financial requirement set forth in any Credit Document, and either
the Borrower Representative or the Required Lenders shall so request, the Administrative Agent, the Lenders and the Borrower Representative
shall negotiate in good faith to amend such ratio or requirement to preserve the original intent thereof in light of such change
in GAAP (subject to the approval of the Required Lenders); provided, until so amended, (i) such ratio or requirement shall
continue to be computed in accordance with GAAP prior to such change therein and (ii) the Borrower Representative shall provide
to the Administrative Agent (for distribution to the Lenders) financial statements and other documents required under this Agreement
which include a reconciliation between calculations of such ratio or requirement made before and after giving effect to such change
in GAAP. For the avoidance of doubt, (i) notwithstanding any change in GAAP after the Closing Date that would require lease obligations
that would be treated as operating leases as of the Closing Date to be classified and accounted for as Capital Leases or otherwise
reflected on Parent’s consolidated balance sheet, such obligations shall continue to be excluded from the definition of
Indebtedness and (ii) any lease that was entered into after the date of this Agreement that would have been considered an operating
lease under GAAP in effect as of the Closing Date shall be treated as an operating lease for all purposes under this Agreement
and the other Credit Documents, and obligations in respect thereof shall be excluded from the definition of Indebtedness.

 

1.3
Interpretation, Etc. The definitions of terms herein shall apply equally to the singular and plural forms of the terms
defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The
words “include,” “includes” and “including” shall be deemed to be followed by the phrase “without
limitation.” The word “will” shall be construed to have the same meaning and effect as the word “shall.”
Unless the context requires otherwise (a) any definition of or reference to any agreement, instrument or other document herein
shall be construed as referring to such agreement, instrument or other document as from time to time amended, restated, supplemented
or otherwise modified (subject to any restrictions on such amendments, supplements or modifications set forth in any Credit Document),
(b) any reference herein to any Person shall be construed to include such Person’s successors and assigns, (c) the words
“herein,” “hereof” and “hereunder,” and words of similar import, shall be construed to refer
to this Agreement in its entirety and not to any particular provision hereof, (d) all references herein to Sections, Appendices,
Exhibits and Schedules shall be construed to refer to Sections of, and Appendices, Exhibits and Schedules to, this Agreement,
(e) any reference to any Law herein shall, unless otherwise specified, refer to such Law as amended, modified or supplemented
from time to time, (f) the words “asset” and “property” shall be construed to have the same meaning and
effect and to refer to any and all tangible and intangible assets and properties, including cash, Securities, accounts and contract
rights and (g) all times set forth herein or in any other Credit Document shall, unless otherwise specified, be deemed to refer
to such time in New York City.

 

1.4
Certifications. Any certificate or other writing required hereunder or under any other Credit Document to be certified
by any officer or other authorized representative of any Person shall be deemed to be executed and delivered by the individual
holding such office solely in such individual’s capacity as an officer or other authorized representative of such Person
and not in such officer’s or other authorized representative’s individual capacity.

 

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1.5
Timing of Performance. Subject to Section 2.16(f), when the performance of any covenant, duty or obligation under any
Credit Document is required to be performed on a day which is not a Business Day, the date of such performance shall extend to
the immediately succeeding Business Day.

 

1.6
Cashless Rollovers. Notwithstanding anything to the contrary contained in this Agreement, any Lender may exchange,
continue or rollover all or a portion of its Loans in connection with any refinancing, extension, loan modification or similar
transaction permitted by the terms of this Agreement, pursuant to a cashless settlement mechanism approved by the Borrower Representative,
the Administrative Agent and such Lender.

 

1.7
Pro Forma Calculations and Adjustments.

 

(a)
For purposes of calculating the compliance of any transaction with any provision hereof that requires such compliance to be on
a “Pro Forma Basis”, such transaction shall be deemed to have occurred as of the first day of the most recently
ended Test Period.

 

(b)
In connection with the calculation of any ratio hereunder upon giving effect to a transaction on a “Pro Forma Basis”,
(i) any Indebtedness incurred, acquired or assumed, or repaid, by Parent or any of its Restricted Subsidiaries in connection with
such transaction (or any other transaction which occurred during the relevant Test Period) shall be deemed to have been incurred,
acquired or assumed, or repaid, as the case may be, as of the first day of the relevant Test Period, (ii) if such Indebtedness
has a floating or formula rate, then the rate of interest for such Indebtedness for the applicable period for purposes of the
calculations contemplated by this definition shall be determined by utilizing the rate which is or would be in effect with respect
to such Indebtedness as at the relevant date of such calculations, (iii) such calculation shall be made without regard to the
netting of any cash proceeds of Indebtedness incurred by Parent or any of its Restricted Subsidiaries in connection with such
transaction (but without limiting the pro forma effect of any prepayment of Indebtedness with such cash proceeds), and (iv) if
any Indebtedness incurred, acquired or assumed in connection with such transaction is in the nature of a revolving credit facility,
the entire principal amount of such facility shall be deemed to have been drawn.

 

1.8
Limited Condition Transactions. Notwithstanding anything in this Agreement or any other Credit Document to the contrary,
if any Indebtedness, Lien, permitted Investment or Permitted Acquisition permitted hereunder is incurred, acquired, assumed or
made as permitted hereunder, or if any Unrestricted Subsidiary is designated hereunder, in each case, in connection with a Limited
Condition Acquisition, then compliance with any applicable ratio, test or other basket hereunder on a Pro Forma Basis may be determined,
at the option of Parent, either (x) at the time of entry into the applicable acquisition agreement (but in no event more than
180 days prior to the incurrence, acquisition or assumption, as applicable, of such Indebtedness) or (y) at the time of incurrence,
acquisition or assumption, as applicable, of such Indebtedness (the date of (x) or (y), the “LCA Test Date”),
and, if Parent has made such an election, then in connection with any calculation of any ratio, test or basket availability with
respect to the incurrence of Indebtedness or Liens, the making of Restricted Payments, the making of any permitted Investment
or Permitted Acquisition, the prepayment, redemption, purchase, defeasance or other satisfaction of Indebtedness, or the designation
of an Unrestricted Subsidiary (each, a “Subsequent Transaction”) following the relevant LCA Test Date and prior
to the earlier of the date on which such Limited Condition Acquisition is consummated or the date that the definitive agreement
for such Limited Condition Acquisition is terminated or expires without consummation of such Limited Condition Acquisition, for
purposes of determining whether such Subsequent Transaction is permitted hereunder, any such ratio, test or basket shall be required
to be satisfied on a Pro Forma Basis assuming such Limited Condition Acquisition and other transactions in connection therewith
(including any incurrence of Indebtedness and the use of proceeds thereof) have been consummated; provided, in the case
of a Restricted Payment, prepayment, redemption, purchase, defeasance or other satisfaction of Junior Financing or designation
of an Unrestricted Subsidiary, any such ratio, test or basket shall also be required to be satisfied assuming such Limited Condition
Acquisition and other transactions in connection therewith (including any incurrence of indebtedness and the use of proceeds thereof)
have not been consummated; provided, further, if any of such ratios or amounts are exceeded as a result of fluctuations
in such ratio or amount including due to fluctuations in Consolidated Adjusted EBITDA of Parent or the Person subject to such
acquisition or Investment, at or prior to the consummation of the relevant transaction or action, such ratios will not be deemed
to have been exceeded as a result of such fluctuations solely for purposes of determining whether the relevant transaction or
action is permitted to be consummated or taken.

 

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1.9
Currency Generally. For purposes of determining compliance with Section 6.1, Section 6.2 and Section 6.6 with respect
to any amount of any Indebtedness, Lien or Investment in a currency other than Dollars, no Default or Event of Default shall be
deemed to have occurred solely as a result of changes in rates of currency exchange occurring after the time such Indebtedness,
Lien or Investment is incurred or granted (so long as such Indebtedness, Lien or Investment, at the time incurred or granted,
made or acquired, was permitted hereunder).

 

1.10
Rounding. Any financial ratios required to be maintained pursuant to this Agreement shall be calculated by dividing
the appropriate component by the other component, carrying the result to one place more than the number of places by which such
ratio is expressed herein and rounding the result up or down to the nearest number (with a rounding-up if there is no nearest
number).

 

1.11
Currency.

 

(a)
Spot Rates. The Administrative Agent shall determine the Spot Rate as of each Revaluation Date to be used for calculating
the Dollar Equivalent of any Alternate Currency, and such Spot Rate shall become effective as of such Revaluation Date and shall
be the Spot Rate employed in converting any amounts between Dollars and such Alternate Currency until the next Revaluation Date
to occur.

 

(b)
Equivalent Units. In connection with an Alternate Currency Letter of Credit, wherever in this Agreement an amount, such
as a required minimum or multiple amount, is expressed in Dollars, the correlative Alternate Currency amount applicable to such
Alternate Currency Letter of Credit shall be the Dollar Equivalent thereof (rounded to the nearest unit of such Alternate Currency,
with 0.5 of a unit being rounded upward), as reasonably determined by the Administrative Agent.

 

SECTION
2 LOANS AND LETTERS OF CREDIT

 

2.1
Term Loans.

 

(a)
Initial Term Loan Commitments. Subject to the terms and conditions hereof, each Lender severally agrees to make, on the
Closing Date, an Initial Term Loan to the Borrowers in an amount equal to such Lender’s Initial Term Loan Commitment. The
Borrowers may make only one borrowing under each Initial Term Loan Commitment. Each Lender’s Initial Term Loan Commitment
shall terminate immediately and without further action on the Closing Date after giving effect to the funding of such Lender’s
Initial Term Loan Commitment on such date.

 

(b)
Repayments and Prepayments. Any amount of the Initial Term Loans that is subsequently repaid or prepaid may not be reborrowed.

 

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(c)
Maturity. Subject to Sections 2.13(a), 2.14, 2.24 and 2.26, all amounts owed hereunder with respect to the Initial Term
Loans shall be paid in full no later than the Initial Term Loan Maturity Date.

 

(d)
Funding Notice. The Borrower Representative shall deliver to the Administrative Agent a fully executed Funding Notice for
the Initial Term Loans no later than 11:00 a.m. at least one Business Day in advance of the Closing Date (or such later time as
the Administrative Agent may agree) and, promptly upon receipt thereof, the Administrative Agent shall notify each Lender of the
proposed borrowing.

 

(e)
Funding of Initial Term Loans. Each Lender shall make its Initial Term Loan available to the Administrative Agent not later
than 12:00 noon on the Closing Date, by wire transfer of same day funds in Dollars, at the Payment Office.

 

(f)
Availability of Funds. Upon satisfaction or waiver of the conditions precedent specified herein, the Administrative Agent
shall make the proceeds of the Initial Term Loans available to the Borrowers on the Closing Date by causing an amount of same
day funds in Dollars equal to the proceeds of all such Initial Term Loans received by the Administrative Agent from the Lenders
to be credited to the account of the Borrowers at the Payment Office or to such other account as is designated in writing to the
Administrative Agent by the Borrower Representative.

 

(g)
Additional Term Loans. Subject to the terms and conditions hereof, (i) the terms and conditions of any Class of Incremental
Term Loan Commitments and Incremental Term Loans shall be as set forth in the related Joinder Agreement, (ii) the terms and conditions
of any Class of Extended Term Loan Commitments and Extended Term Loans shall be as set forth in the related Extension Amendment,
and (iii) the terms and conditions of any Class of Permitted Refinancing Term Loan Commitments and Permitted Refinancing Term
Loans shall be as set forth in the related Permitted Refinancing Amendment.

 

2.2
Revolving Loans.

 

(a)
Revolving Credit Commitments. During the Revolving Credit Commitment Period, subject to the terms and conditions hereof,
each Lender severally agrees to make Revolving Loans to the Borrowers in an aggregate amount up to but not exceeding such Lender’s
Revolving Credit Commitment; provided, after giving effect to the making of any Revolving Loans in no event shall the Total
Utilization of Revolving Credit Commitments exceed the Revolving Credit Limit.

 

(b)
Repayments and Prepayments. Amounts borrowed pursuant to this Section 2.2 may be repaid and reborrowed during the Revolving
Credit Commitment Period.

 

(c)
Maturity. Each Lender’s Revolving Credit Commitments shall terminate on the applicable Scheduled Revolving Credit
Commitment Termination Date, and all Revolving Loans and all other amounts owed hereunder with respect to the Revolving Loans
and the Revolving Credit Commitments shall be paid in full no later than such date.

 

(d)
Minimum Amounts. Except pursuant to Section 2.3(g) or 2.4(d), Revolving Loans that are Base Rate Loans shall be made in
an aggregate minimum amount (i) of $500,000 and integral multiples of $100,000 in excess of that amount or (ii) equal to the remaining
principal balance of the Revolving Credit Commitments, and Revolving Loans that are Eurodollar Loans shall be in an aggregate
minimum amount (i) of $500,000 and integral multiples of $100,000 in excess of that amount or (ii) equal to the remaining principal
balance of the Revolving Credit Commitments.

 

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(e)
Notice to the Administrative Agent. Whenever a Borrower desires that the Lenders make Revolving Loans, the Borrower Representative
shall deliver to the Administrative Agent at the Notice Office a fully executed and delivered Funding Notice no later than 12:00
noon at least three (3) Business Days in advance of the proposed Credit Date in the case of a Eurodollar Loan, and at least one
(1) Business Day in advance of the proposed Credit Date in the case of a Revolving Loan that is a Base Rate Loan. Except as otherwise
provided herein, a Funding Notice for a Revolving Loan that is a Eurodollar Loan shall be irrevocable on and after the date of
receipt thereof by the Administrative Agent, and such Borrower shall be bound to make a borrowing in accordance therewith.

 

(f)
Notice to Lenders. Notice of receipt of each Funding Notice in respect of Revolving Loans, together with the amount of
each Lender’s Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by the Administrative
Agent to each applicable Lender in writing with reasonable promptness, but (so long as the Administrative Agent shall have received
such Notice by the time set forth in Section 2.2(e)) not later than 2:00 p.m. on the same day as the Administrative Agent’s
receipt of such Notice from the Borrower Representative.

 

(g)
Availability of Funds. Each Lender shall make the amount of its Revolving Loan available to the Administrative Agent not
later than 2:00 p.m. on the applicable Credit Date by wire transfer of same day funds in Dollars, at the Payment Office. Except
as otherwise expressly provided herein, upon satisfaction or waiver of the conditions precedent specified herein, the Administrative
Agent shall make the proceeds of such Revolving Loans available to the applicable Borrower on the applicable Credit Date by causing
an amount of same day funds in Dollars equal to the proceeds of all such Revolving Loans received by the Administrative Agent
from the Lenders to be credited to the account of the applicable Borrower at the Payment Office or such other account as may be
designated in writing to the Administrative Agent by the Borrower Representative.

 

2.3
Swing Line Loans.

 

(a)
Swing Line Loans. During the Revolving Credit Commitment Period, subject to the terms and conditions hereof, the Swing
Line Lender hereby agrees to make Swing Line Loans to the Borrowers; provided, after giving effect to the making of any
Swing Line Loan, in no event shall (x) the Swing Line Loan Outstandings exceed the Swing Line Sublimit then in effect or (y) the
Total Utilization of Revolving Credit Commitments exceed the Revolving Credit Limit.

 

(b)
Repayments and Prepayments. Amounts borrowed pursuant to this Section 2.3 may be repaid and reborrowed during the Revolving
Credit Commitment Period.

 

(c)
Maturity. The Swing Line Lender’s obligation to make Swing Line Loans pursuant to this Section 2.3 shall expire on
the latest Scheduled Revolving Credit Commitment Termination Date and all Swing Line Loans and all other amounts owed hereunder
with respect to the Swing Line Loans shall be paid in full no later than such date.

 

(d)
Minimum Amounts. Swing Line Loans shall be made in an aggregate minimum amount of $100,000 and integral multiples of $50,000
in excess of that amount.

 

(e)
Notice to Swing Line Lender. Whenever a Borrower desires that the Swing Line Lender make a Swing Line Loan, the Borrower
Representative shall deliver to the Administrative Agent a Funding Notice no later than 12:00 noon on the proposed Credit Date.

 

    	 	56	 

     

    

 

(f)
Availability of Funds. The Swing Line Lender shall make the amount of its Swing Line Loan available to the Administrative
Agent not later than 2:00 p.m. on the applicable Credit Date by wire transfer of same day funds in Dollars, at the Payment Office.
Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, the Administrative Agent
shall make the proceeds of such Swing Line Loans available to the Borrowers on the applicable Credit Date by causing an amount
of same day funds in Dollars equal to the proceeds of all such Swing Line Loans received by the Administrative Agent from the
Swing Line Lender to be credited to the account of the Borrowers at the Payment Office, or to such other account as is designated
in writing to the Administrative Agent by the Borrower Representative.

 

(g)
Refunded Swing Line Loans. With respect to any Swing Line Loans which have not been voluntarily prepaid by the Borrowers
pursuant to Section 2.13, the Swing Line Lender may at any time in its sole and absolute discretion, deliver to the Administrative
Agent (with a copy to the Borrower Representative), no later than 11:00 a.m. at least one Business Day in advance of the proposed
Credit Date, a notice requesting that each Revolving Lender make Revolving Loans that are Base Rate Loans to the Borrowers on
such Credit Date in an amount equal to its Pro Rata Share of the amount of such Swing Line Loans (the “Refunded Swing
Line Loans”) outstanding on the date such notice is given which the Swing Line Lender requests the Revolving Lenders
to prepay (without regard to the minimum funding amounts set forth in Section 2.2(d)). Anything contained in this Agreement to
the contrary notwithstanding, (i) the proceeds of such Revolving Loans made by the Revolving Lenders other than the Swing Line
Lender shall be immediately delivered by the Administrative Agent to the Swing Line Lender (and not to the Borrowers) and applied
to repay a corresponding portion of the Refunded Swing Line Loans and (ii) on the day such Revolving Loans are made, the Swing
Line Lender’s Pro Rata Share of the Refunded Swing Line Loans shall be deemed to be paid with the proceeds of a Revolving
Loan made by the Swing Line Lender to the Borrowers, and such portion of the Swing Line Loans deemed to be so paid shall no longer
be outstanding as Swing Line Loans and shall no longer be due under the Swing Line Note of the Swing Line Lender but shall instead
constitute part of the Swing Line Lender’s outstanding Revolving Loans to the Borrowers and shall be due under the Revolving
Loan Note issued by the Borrowers to the Swing Line Lender. Each Borrower hereby authorizes the Administrative Agent and the Swing
Line Lender to charge (without duplication) such Borrower’s accounts with the Administrative Agent and the Swing Line Lender
(up to the amount available in each such account) in order to immediately pay the Swing Line Lender the amount of the Refunded
Swing Line Loans to the extent the proceeds of such Revolving Loans made by the Revolving Lenders, including the Revolving Loans
deemed to be made by the Swing Line Lender, are not sufficient to repay in full the Refunded Swing Line Loans. If any portion
of any such amount paid (or deemed to be paid) to the Swing Line Lender should be recovered by or on behalf of a Borrower from
the Swing Line Lender in any proceeding under any Debtor Relief Law or otherwise, the loss of the amount so recovered shall be
ratably shared among all of the Revolving Lenders in the manner contemplated by Section 2.17.

 

(h)
Revolving Lenders’ Purchase of Participations in Swing Line Loans. If for any reason Revolving Loans are not made
pursuant to Section 2.3(g) in an amount sufficient to repay any amounts owed to the Swing Line Lender in respect of any outstanding
Swing Line Loans on or before the third Business Day after demand for payment thereof by the Swing Line Lender, each Revolving
Lender shall be deemed to, and hereby agrees to, have purchased a participation in such outstanding Swing Line Loans, and in an
amount equal to its Pro Rata Share of the applicable unpaid principal amount together with accrued and unpaid interest thereon.
Upon one Business Day’s notice from the Swing Line Lender, each Revolving Lender shall deliver to the Swing Line Lender
an amount equal to its respective participation in the applicable unpaid amount in same day funds at the Payment Office of the
Swing Line Lender. In order to evidence such participation each Revolving Lender agrees to enter into a participation agreement
at the request of the Swing Line Lender in form and substance reasonably satisfactory to the Swing Line Lender. If any Revolving
Lender fails to make available to the Swing Line Lender the amount of such Revolving Lender’s participation as provided
in this Section 2.3(h), the Swing Line Lender shall be entitled to recover such amount on demand from such Revolving Lender together
with interest thereon for three (3) Business Days at the rate customarily used by the Swing Line Lender for the correction of
errors among banks and thereafter at the Base Rate, as applicable. A certificate of the Swing Line Lender submitted to any Revolving
Lender (through the Administrative Agent) with respect to any amounts owing under this clause (h) shall be conclusive absent demonstrable
or manifest error.

 

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(i)
Absolute and Unconditional Obligations. Notwithstanding anything contained herein to the contrary, (i) each Revolving Lender’s
obligation to make Revolving Loans for the purpose of repaying any Refunded Swing Line Loans pursuant to Section 2.3(g) and each
Revolving Lender’s obligation to purchase a participation in any unpaid Swing Line Loans pursuant to Section 2.3(h) shall
be absolute and unconditional and shall not be affected by any circumstance, including (A) any set off, counterclaim, recoupment,
defense or other right which such Revolving Lender may have against Swing Line Lender, any Credit Party or any other Person for
any reason whatsoever; (B) the occurrence or continuation of a Default or Event of Default; (C) any adverse change in the business,
operations, properties, assets, condition (financial or otherwise) or prospects of any Credit Party; (D) any breach of this Agreement
or any other Credit Document by any party thereto; or (E) any other circumstance, happening or event whatsoever, whether or not
similar to any of the foregoing; provided, such obligations of each Revolving Lender are subject to the condition that
Swing Line Lender had not received prior notice from the Borrower Representative or the Required Revolving Lenders that any of
the conditions under Section 3.2 to the making of the applicable Refunded Swing Line Loans or other unpaid Swing Line Loans, were
not satisfied at the time such Refunded Swing Line Loans or unpaid Swing Line Loans were made; and (ii) the Swing Line Lender
shall not be obligated to make any Swing Line Loans (A) if it has elected not to do so after the occurrence and during the continuation
of a Default or Event of Default, or (B) it does not in good faith believe that all conditions under Section 3.2 to the making
of such Swing Line Loan have been satisfied or waived by the Required Revolving Lenders.

 

(j)
Resignation of Swing Line Lender. The Swing Line Lender may resign as Swing Line Lender upon thirty days prior written
notice to the Administrative Agent, Revolving Lenders and Borrower Representative. Upon any such notice of resignation, the Required
Revolving Lenders shall have the right, upon five (5) Business Days’ notice to the Borrower Representative (or such lesser
notice as is acceptable to the Borrower Representative), to appoint a successor Swing Line Lender with the written consent of
the Borrower Representative; provided, (x) no such consent of the Borrower Representative shall be required while an Event
of Default exists and (y) such consent shall not be unreasonably withheld, delayed or conditioned, and shall be deemed to have
been given unless the Borrower Representative shall have objected to such appointment by written notice to the Administrative
Agent within five (5) Business Days after having received notice thereof; provided, failing such appointment, the retiring
Swing Line Lender may appoint, on behalf of the Revolving Lenders, a successor Swing Line Lender from among the Revolving Lenders
or, with the written consent of the Borrower Representative, any other financial institution; provided, in no event shall
any such successor Swing Line Lender be a Defaulting Lender, an Affiliated Lender or a Disqualified Institution. At the time any
such resignation shall become effective, (i) the Borrowers shall prepay any outstanding Swing Line Loans made by the resigning
Swing Line Lender, (ii) upon such prepayment, the resigning Swing Line Lender shall surrender any Swing Line Note held by it to
the Borrowers for cancellation, and (iii) the Borrowers shall issue, if so requested by the successor Swing Line Lender, a new
Swing Line Note to the successor Swing Line Lender, in the principal amount of the Swing Line Loan Sublimit then in effect and
with other appropriate insertions. From and after the effective date of any such resignation, (A) any successor Swing Line Lender
shall have all the rights and obligations of the Swing Line Lender under this Agreement with respect to Swing Line Loans made
thereafter and (B) references herein to the term “Swing Line Lender” shall be deemed to refer to such successor or
to any previous Swing Line Lender, or to such successor and all previous Swing Line Lender, as the context shall require.

 

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(k)
Extensions. If the Maturity Date shall have occurred in respect of any tranche of Revolving Credit Commitments (such Maturity
Date, the “Earlier Revolving Commitment Maturity Date”) at a time when another tranche or tranches of Revolving
Credit Commitments is or are in effect with a longer Maturity Date, then, on such Earlier Revolving Commitment Maturity Date,
all then outstanding Swing Line Loans shall be repaid in full (and there shall be no adjustment to the participations in such
Swing Line Loans as a result of the occurrence of such Earlier Revolving Maturity Date); provided, if on the occurrence
of such Earlier Revolving Commitment Maturity Date (after giving effect to any repayments of Revolving Loans and any reallocation
of Letter of Credit participations as contemplated in Section 2.4(k)), there shall exist sufficient unutilized Extended Revolving
Credit Commitments so that the respective outstanding Swing Line Loans could be incurred pursuant to such Extended Revolving Credit
Commitments which will remain in effect after the occurrence of such Earlier Revolving Commitment Maturity Date, then there shall
be an automatic adjustment on such date of the risk participations of each Revolving Lender that is an Extended Revolving Lender
and such outstanding Swing Line Loans shall be deemed to have been incurred solely pursuant to the relevant Extended Revolving
Credit Commitments and such Swing Line Loans shall not be so required to be repaid in full on such Earlier Revolving Commitment
Maturity Date.

 

2.4
Letters of Credit.

 

(a)
Letters of Credit. During the Revolving Credit Commitment Period, subject to the terms and conditions hereof, each Issuing
Bank agrees to issue Letters of Credit for the account of the Borrowers or any Subsidiary (provided, that in the case of any Letter
of Credit issued for a Subsidiary that is not a Guarantor, the Borrower Representative shall be the co-applicant with respect
thereto) in the aggregate amount up to but not exceeding the Letter of Credit Sublimit; provided, (i) each Letter of Credit
shall be denominated in Dollars or, at the option of the Borrower Representative, in an Alternate Currency; (ii) the stated amount
of each Letter of Credit shall not be less than $100,000 or such lesser amount as is acceptable to the applicable Issuing Bank;
(iii) after giving effect to such issuance, in no event shall the Total Utilization of Revolving Credit Commitments exceed the
Revolving Credit Limit then in effect; (iv) after giving effect to such issuance, in no event shall the Letter of Credit Obligations
exceed the Letter of Credit Sublimit then in effect; (v) absent the consent of the applicable Issuing Bank to the contrary, no
Letters of Credit shall be issued after the date that is ten (10) Business Days prior to the Scheduled Revolving Credit Commitment
Termination Date; (vi) absent the consent of the applicable Issuing Bank to the contrary, in no event shall any standby Letter
of Credit have an expiration date later than the earlier of (A) the date that is five (5) Business Days prior to the Scheduled
Revolving Credit Commitment Termination Date and (B) the date which is one year from the date of issuance of such standby Letter
of Credit; and (vii) absent the consent of the applicable Issuing Bank to the contrary, no commercial Letter of Credit shall have
an expiration date later than the earlier of (1) the date that is ten (10) Business Days prior to the Scheduled Revolving Credit
Commitment Termination Date and (2) the date that is one hundred eighty days from the date of issuance of such commercial Letter
of Credit. Subject to the foregoing, the Issuing Banks may agree that a standby Letter of Credit will automatically be extended
for one or more successive periods not to exceed one year each, unless such Issuing Bank elects not to extend for any such additional
period; provided, the Issuing Banks shall not extend any such Letter of Credit if it has received written notice that an
Event of Default has occurred and is continuing at the time such Issuing Bank must elect to allow such extension.

 

(b)
Notice of Issuance. Whenever a Borrower desires the issuance of a Letter of Credit, it shall deliver to the Administrative
Agent an Issuance Notice no later than 12:00 noon at least three (3) Business Days, or such shorter period as may be agreed to
by an Issuing Bank in any particular instance, in advance of the proposed date of issuance. Upon satisfaction or waiver of the
conditions set forth in Section 3.2, the applicable Issuing Bank shall issue the requested Letter of Credit in accordance with
such Issuing Bank’s standard operating procedures. Upon the issuance or increase of any Letter of Credit, such Issuing Bank
shall promptly notify each Revolving Lender thereof, which notice shall be accompanied by a copy of a Letter of Credit or increasing
amendment or modification to a Letter of Credit and the amount of such Revolving Lender’s respective participation in such
Letter of Credit pursuant to Section 2.4(e). On the Closing Date, the Borrowers shall be deemed to have requested the issuance
hereunder of the NRC Letters of Credit and the NRC Letters of Credit shall be deemed to have been so issued hereunder.

 

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(c)
Responsibility of the Issuing Banks With Respect to Requests for Drawings and Payments. In determining whether to honor
any drawing under any Letter of Credit by the beneficiary thereof, the Issuing Bank shall be responsible only to examine the documents
delivered under such Letter of Credit with reasonable care so as to ascertain whether they appear on their face to be in accordance
with the terms and conditions of such Letter of Credit. As between the Borrowers and an Issuing Bank, the Borrowers assume all
risks of the acts and omissions of, or misuse of the Letters of Credit issued by any Issuing Bank, by the respective beneficiaries
of such Letters of Credit. In furtherance and not in limitation of the foregoing, the Issuing Banks shall not be responsible for
(i) the form, validity, sufficiency, accuracy, genuineness or legal effect of any document submitted by any party in connection
with the application for and issuance of any such Letter of Credit, even if it should in fact prove to be in any or all respects
invalid, insufficient, inaccurate, fraudulent or forged; (ii) the validity or sufficiency of any instrument transferring or assigning
or purporting to transfer or assign any such Letter of Credit or the rights or benefits thereunder or proceeds thereof, in whole
or in part, which may prove to be invalid or ineffective for any reason; (iii) failure of the beneficiary of any such Letter of
Credit to comply fully with any conditions required in order to draw upon such Letter of Credit; (iv) errors, omissions, interruptions
or delays in transmission or delivery of any messages, by mail, cable, telegraph, telex or otherwise, whether or not they be in
cipher; (v) errors in interpretation of technical terms; (vi) any loss or delay in the transmission or otherwise of any document
required in order to make a drawing under any such Letter of Credit or of the proceeds thereof; (vii) the misapplication by the
beneficiary of any such Letter of Credit of the proceeds of any drawing under such Letter of Credit; or (viii) any consequences
arising from causes beyond the control of the Issuing Bank, including any Governmental Acts; none of the above shall affect or
impair, or prevent the vesting of, any of any Issuing Bank’s rights or powers hereunder. Without limiting the foregoing
and in furtherance thereof (but subject to the immediately following sentence), any action taken or omitted by any Issuing Bank
under or in connection with the Letters of Credit or any documents and certificates delivered thereunder, if taken or omitted
in good faith, shall not give rise to any liability on the part of such Issuing Bank to the Borrowers. Notwithstanding anything
to the contrary contained in this Section 2.4(c), the Borrowers shall retain any and all rights it may have against the Issuing
Bank for any liability arising out of the gross negligence or willful misconduct of, or material breach by, any Issuing Banks
as determined by a final, non-appealable judgment of a court of competent jurisdiction.

 

(d)
Reimbursement by Borrowers of Amounts Drawn or Paid Under Letters of Credit. If an Issuing Bank has determined to honor
a drawing under a Letter of Credit, it shall immediately notify the Borrower Representative and the Administrative Agent, and
the Borrowers shall reimburse such Issuing Bank on or before the Business Day immediately following the date on which such drawing
is honored (the “Reimbursement Date”) in an amount in Dollars (calculated, in the case of any Alternate Currency
Letter of Credit, based on the Dollar Equivalent thereof) and in same day funds equal to the amount of such honored drawing; provided,
anything contained herein to the contrary notwithstanding, (i) unless the Borrower Representative shall have notified the Administrative
Agent and the applicable Issuing Bank prior to 10:00 a.m. on the date such drawing is honored that the Borrowers intend to reimburse
the applicable Issuing Bank for the amount of such honored drawing with funds other than the proceeds of Revolving Loans, the
Borrower Representative shall be deemed to have given a timely Funding Notice to the Administrative Agent requesting each Revolving
Lender to make Revolving Loans that are Base Rate Loans on the Reimbursement Date in an amount in Dollars equal to the amount
of such honored drawing (calculated, in the case of any Alternate Currency Letter of Credit, based on the Dollar Equivalent thereof),
and (ii) regardless of whether the conditions specified in Section 3.2 are satisfied, each Revolving Lender shall, on the Reimbursement
Date, make Revolving Loans that are Base Rate Loans in the amount of such honored drawing, the proceeds of which shall be applied
directly by the Administrative Agent to reimburse the applicable Issuing Bank for the amount of such honored drawing; and provided
further, if for any reason proceeds of Revolving Loans are not received by such Issuing Bank on the Reimbursement Date in
an amount equal to the amount of such honored drawing, the Borrowers shall reimburse such Issuing Bank, on demand, in an amount
in Dollars (calculated, in the case of any Alternate Currency Letter of Credit, based on the Dollar Equivalent thereof) same day
funds equal to the excess of the amount of such honored drawing over the aggregate amount of such Revolving Loans, if any, which
are so received. Nothing in this Section 2.4(d) shall be deemed to relieve any Revolving Lender from its obligation to make Revolving
Loans on the terms and conditions set forth herein, and the Borrowers shall retain any and all rights it may have against any
Revolving Lender resulting from the failure of such Revolving Lender to make such Revolving Loans under this Section 2.4(d).

 

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 (e)
Revolving Lenders’ Purchase of Participations in Letters of Credit. Immediately upon the issuance of each Letter
of Credit, each Revolving Lender shall be deemed to have purchased, and hereby agrees to irrevocably purchase, from the applicable
Issuing Bank a participation in such Letter of Credit and any drawings honored thereunder in an amount equal to such Lender’s
Pro Rata Share (with respect to the Revolving Credit Commitments) of the maximum amount which is or at any time may become available
to be drawn thereunder (calculated, in the case of any Alternate Currency Letter of Credit, based on the Dollar Equivalent thereof).
If the Borrowers shall fail for any reason to reimburse such Issuing Bank as provided in Section 2.4(d), such Issuing Bank shall
promptly notify each Revolving Lender of the unreimbursed amount of such honored drawing and of such Lender’s respective
participation therein based on such Lender’s Pro Rata Share of the Revolving Credit Commitments (calculated, in the case
of any Alternate Currency Letter of Credit, based on the Dollar Equivalent thereof). Each Revolving Lender shall make available
to such Issuing Bank an amount equal to its respective participation, in Dollars and in same day funds (calculated, in the case
of any Alternate Currency Letter of Credit, based on the Dollar Equivalent thereof), at the office of such Issuing Bank specified
in such notice, not later than 12:00 noon on the first business day (under the Laws of the jurisdiction in which such office of
such Issuing Bank is located) after the date notified by such Issuing Bank. If any Revolving Lender fails to make available to
such Issuing Bank on such business day the amount of such Lender’s participation in such Letter of Credit as provided in
this Section 2.4(e), such Issuing Bank shall be entitled to recover such amount on demand from such Revolving Lender, together
with interest thereon for three (3) Business Days at the rate customarily used by such Issuing Bank for the correction of errors
among banks and thereafter at the Base Rate. Nothing in this Section 2.4(e) shall be deemed to prejudice the right of any Revolving
Lender to recover from any Issuing Bank any amounts made available by such Revolving Lender to such Issuing Bank pursuant to this
Section if it is determined that the payment with respect to a Letter of Credit in respect of which payment was made by such Revolving
Lender constituted gross negligence or willful misconduct on the part of such Issuing Bank as determined by a final, non-appealable
judgment of a court of competent jurisdiction. If an Issuing Bank shall have been reimbursed by other Revolving Lenders pursuant
to this Section 2.4(e) for all or any portion of any drawing honored by such Issuing Bank under a Letter of Credit, such Issuing
Bank shall distribute to each Revolving Lender which has paid all amounts payable by it under this Section 2.4(e) with respect
to such honored drawing such Revolving Lender’s Pro Rata Share of all payments subsequently received by such Issuing Bank
from the Borrowers in reimbursement of such honored drawing when such payments are received. Any such distribution shall be made
to a Revolving Lender at its primary address set forth below its name on Appendix B or at such other address as such Revolving
Lender may request.

 

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(f)
Obligations Absolute. The obligation of the Borrowers to reimburse an Issuing Bank for drawings honored under the Letters
of Credit issued by it and to repay any Revolving Loans made by the Revolving Lenders pursuant to Section 2.4(d) and the obligations
of the Revolving Lenders under Section 2.4(e) shall be unconditional and irrevocable and shall be paid strictly in accordance
with the terms hereof under all circumstances including any of the following circumstances: (i) any lack of validity or enforceability
of any Letter of Credit; (ii) the existence of any claim, set-off, defense or other right which the Borrowers or any Lender may
have at any time against a beneficiary or any transferee of any Letter of Credit (or any Persons for whom any such transferee
may be acting), any Issuing Bank, Lender or any other Person or, in the case of a Lender, against the Borrowers, whether in connection
herewith, the transactions contemplated herein or any unrelated transaction (including any underlying transaction between Parent
or any of its Restricted Subsidiaries and the beneficiary for which any Letter of Credit was procured); (iii) any draft or other
document presented under any Letter of Credit proving to be forged, fraudulent, invalid or insufficient in any respect or any
statement therein being untrue or inaccurate in any respect; (iv) payment by an Issuing Bank under any Letter of Credit against
presentation of a draft or other document which does not substantially comply with the terms of such Letter of Credit; (v) any
adverse change in the business, operations, properties, assets, condition (financial or otherwise) or prospects of Parent or any
of its Restricted Subsidiaries; (vi) any breach hereof or any other Credit Document by any party thereto; (vii) any other circumstance
or happening whatsoever, whether or not similar to any of the foregoing; or (viii) the fact that an Event of Default or a Default
shall have occurred and be continuing; provided, in each case, that payment by an Issuing Bank under the applicable Letter
of Credit shall not have constituted gross negligence or willful misconduct of, or material breach of agreement by, such Issuing
Bank under the circumstances in question as determined by a final, non-appealable judgment of a court of competent jurisdiction.

 

(g)
Indemnification. Without duplication of any obligation of the Borrowers under Section 10.2 or 10.3, in addition to amounts
payable as provided herein, the Borrowers hereby agree to protect, indemnify, pay and save harmless the Issuing Banks from and
against any and all claims, demands, liabilities, damages, losses, costs, charges and expenses (limited, in the case of legal
fees and expenses, to the reasonable fees, expenses and disbursements of a single external counsel documented in reasonable detail)
which any Issuing Bank incurs or is subject to as a consequence, direct or indirect, of (i) the issuance of any Letter of Credit
by an Issuing Bank, other than as a result of (A) the gross negligence or willful misconduct of, or material breach of agreement
by, such Issuing Bank as determined by a final, non-appealable judgment of a court of competent jurisdiction or (B) the wrongful
dishonor by such Issuing Bank of a proper demand for payment made under any Letter of Credit issued by it, or (ii) the failure
of such Issuing Bank to honor a drawing under any such Letter of Credit as a result of any Governmental Act.

 

(h)
Cash Collateralization - Borrowers. If any Letter of Credit is outstanding at the time that the Borrowers prepay, or are
required to repay, the Obligations (other than the Remaining Obligations) or the Revolving Credit Commitments are terminated,
the Borrowers shall Cash Collateralize the applicable Issuing Bank’s Letter of Credit Obligations in an amount not less
than the Minimum Collateral Amount, to reimburse payments of drafts drawn under such Letters of Credit and pay any fees and expenses
related thereto. Upon termination of any such Letter of Credit such deposit shall be refunded to the Borrowers to the extent not
previously applied by the Administrative Agent in the manner described herein.

 

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(i)
Cash Collateralization - Defaulting Lenders. At any time that there shall exist a Defaulting Lender, within three (3) Business
Days following the written request of the Administrative Agent or the Issuing Bank (with a copy to the Administrative Agent) the
Borrowers shall Cash Collateralize such Issuing Bank’s Fronting Exposure with respect to such Defaulting Lender (determined
after giving effect to Section 2.22(a)(iv) and any Cash Collateral provided by such Defaulting Lender) in an amount not less than
the Minimum Collateral Amount. 

 

		(i)	Grant of Security Interest. The Borrowers, and to the extent provided by any Defaulting
Lender, such Defaulting Lender, hereby grant to the Administrative Agent, for the benefit of the Issuing Banks, and agree to maintain,
a first priority security interest in all such Cash Collateral as security for the Defaulting Lenders’ obligation to fund
participations in respect of Letter of Credit Obligations, to be applied pursuant to clause (ii) below. If at any time the Administrative
Agent reasonably determines that such Cash Collateral is subject to any right or claim of any Person other than the Administrative
Agent and the Issuing Bank as herein provided), or that the total amount of such Cash Collateral is less than the Minimum Collateral
Amount, the Borrowers will, promptly upon demand by the Administrative Agent, pay or provide to the Administrative Agent additional
Cash Collateral in an amount sufficient to eliminate such deficiency (after giving effect to Section 2.22(a)(iv) and any Cash Collateral
provided by the Defaulting Lender).

 

		(ii)	Application. Notwithstanding anything to the contrary contained in this Agreement, Cash
Collateral provided under this Section 2.4(i) or Section 2.22 in respect of Letters of Credit shall be applied to the satisfaction
of the Defaulting Lender’s obligation to fund participations in respect of Letter of Credit Obligations (including, as to
Cash Collateral provided by a Defaulting Lender, any interest accrued on such obligation) for which the Cash Collateral was so
provided, prior to any other application of such property as may otherwise be provided for herein.

 

		(iii)	Termination of Requirement. Cash Collateral (or the appropriate portion thereof) provided
to reduce the applicable Issuing Bank’s Fronting Exposure shall no longer be required to be held as Cash Collateral pursuant
to this Section 2.4(i) following (A) the elimination of the applicable Fronting Exposure (including by the termination of Defaulting
Lender status of the applicable Revolving Lender), or (B) the determination by the Administrative Agent and the applicable Issuing
Bank that there exists excess Cash Collateral; provided, subject to Section 2.22(a)(v), the Person providing Cash Collateral
and such Issuing Bank may agree that Cash Collateral shall be held to support future anticipated Fronting Exposure or other obligations;
provided further, to the extent that such Cash Collateral was provided by the Borrowers, such Cash Collateral shall remain
subject to the security interest granted pursuant to the Credit Documents.

  

(j)
Resignation of an Issuing Bank. An Issuing Bank may resign as the Issuing Bank upon thirty days prior written notice to
the Administrative Agent, Revolving Lenders and Borrower Representative. Upon any such notice of resignation, the Required Revolving
Lenders shall have the right, upon five (5) Business Days’ notice to the Borrower Representative, to appoint a successor
Issuing Bank with the written consent of the Borrower Representative (or such lesser notice as is acceptable thereto); provided,
(x) no such consent of the Borrower Representative shall be required while an Event of Default exists and (y) such consent shall
not be unreasonably withheld, delayed or conditioned, and shall be deemed to have been given unless the Borrower Representative
shall have objected to such appointment by written notice to the Administrative Agent within five (5) Business Days after having
received notice thereof; provided, failing such appointment, the retiring Issuing Bank may appoint, on behalf of the Revolving
Lenders, a successor Issuing Bank from among the Revolving Lenders or, with the written consent of the Borrower Representative,
any other financial institution; provided, in no event shall any such successor Issuing Bank be a Defaulting Lender, an
Affiliated Lender or a Disqualified Institution. At the time any such resignation shall become effective, the Borrowers shall
pay all unpaid fees accrued for the account of the replaced Issuing Bank. From and after the effective date of any such resignation,
(i) any successor to an Issuing Bank shall have all the rights and obligations of an Issuing Bank under this Agreement with respect
to Letters of Credit to be issued thereafter and (ii) references herein to the term “Issuing Bank” shall be deemed
to refer to such successor or to any previous Issuing Bank, or to such successor and all previous Issuing Banks, as the context
shall require. After the resignation of an Issuing Bank hereunder, the resigning Issuing Bank shall remain a party hereto to the
extent that Letters of Credit issued by it remain outstanding and shall continue to have all the rights and obligations of an
Issuing Bank under this Agreement with respect to Letters of Credit issued by it prior to such resignation, but shall not be required
to issue additional Letters of Credit.

 

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(k)
Extensions. If the Maturity Date in respect of any tranche of Revolving Credit Commitments occurs prior to the expiration
of any Letter of Credit, then (i) if one or more other tranches of Revolving Credit Commitments in respect of which the Maturity
Date shall not have occurred are then in effect, such Letters of Credit shall automatically be deemed to have been issued (including
for purposes of the obligations of the Revolving Lenders to purchase participations therein and to make Revolving Loans and payments
in respect thereof pursuant to Sections 2.4(d) and 2.4(e)) under (and ratably participated in by Revolving Lenders pursuant to)
the Revolving Credit Commitments in respect of such non-terminating tranches up to an aggregate amount not to exceed the aggregate
principal amount of the unutilized Revolving Credit Commitments thereunder at such time (it being understood that no partial face
amount of any Letter of Credit may be so reallocated) and (ii) to the extent not reallocated pursuant to immediately preceding
clause (i), the Borrowers shall Cash Collateralize any such Letter of Credit in accordance with Section 2.4(h). Except to the
extent of reallocations of participations pursuant to clause (i) of the immediately preceding sentence, the occurrence of a Maturity
Date with respect to a given tranche of Revolving Credit Commitments shall have no effect upon (and shall not diminish) the percentage
participations of the Revolving Lenders in any Letter of Credit issued before such Maturity Date.

 

(l)
Additional Issuing Banks. The Borrowers may, at any time and from time to time, designate one or more additional Revolving
Lenders to act as an issuing bank under the terms of this Agreement, with the consent of the Administrative Agent (such consent
not to be unreasonably withheld) and such Revolving Lender(s). Any Revolving Lender designated as an issuing bank pursuant to
this clause (l) shall have all rights and obligations of an Issuing Bank under the Credit Documents with respect to Letters of
Credit issued or to be issued by it, and all references in the Credit Documents to the term “Issuing Bank” shall,
with respect to Letters of Credit, be deemed to refer to such Revolving Lender in its capacity as Issuing Bank, as the context
may require. The Administrative Agent shall notify the Lenders of any such additional Issuing Bank. If at any time there is more
than one Issuing Bank hereunder, the Borrower Representative may, in its discretion, select which Issuing Bank to issue any particular
Letter of Credit.

 

2.5
Pro Rata Shares; Availability of Funds.

 

(a)
Pro Rata Shares. All Loans shall be made, and all participations purchased, by the Lenders simultaneously and proportionately
to their respective Pro Rata Shares, it being understood that (i) the failure of any Lender to fund any such Loan shall not relieve
any other Lender of its obligation hereunder and (ii) no Lender shall be responsible for any default by any other Lender in such
other Lender’s obligation to make a Loan requested hereunder or purchase a participation required hereby nor shall any Term
Loan Commitment or any Revolving Credit Commitment of any Lender be increased or decreased as a result of a default by any other
Lender in such other Lender’s obligation to make a Loan requested hereunder or purchase a participation required hereby.

 

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(b)
Availability of Funds. Unless the Administrative Agent shall have received notice from a Lender prior to the proposed date
of any Credit Extension that such Lender will not make available to the Administrative Agent such Lender’s share of such
Credit Extension, the Administrative Agent may assume that such Lender has made such share available on such date in accordance
with Section 2.2 and may, in reliance upon such assumption, make available to the Borrowers a corresponding amount. In such event,
if a Lender has not in fact made its share of the applicable Credit Extension available to the Administrative Agent, then the
applicable Lender and the Borrowers severally agree to pay to the Administrative Agent forthwith on demand such corresponding
amount with interest thereon, for each day from and including the date such amount is made available to the Borrowers to but excluding
the date of payment to the Administrative Agent, at (i) in the case of a payment to be made by such Lender, the greater of the
Federal Funds Effective Rate and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank
compensation, and (ii) in the case of a payment to be made by the Borrowers, the interest rate applicable to Base Rate Loans.
If the Borrowers and such Lender shall pay such interest to the Administrative Agent for the same or an overlapping period, the
Administrative Agent shall promptly remit to the Borrowers the amount of such interest paid by the Borrowers for such period.
If such Lender pays its share of the applicable Credit Extension to the Administrative Agent, then the amount so paid shall constitute
such Lender’s Loan included in such Credit Extension. Any payment by the Borrowers shall be without prejudice to any claim
the Borrowers may have against a Lender that shall have failed to make such payment to the Administrative Agent. Nothing in this
Section 2.5(b) shall be deemed to relieve any Lender from its obligation to fulfill its Term Loan Commitments or Revolving Credit
Commitments hereunder or to prejudice any rights that the Borrowers may have against any Lender as a result of any default by
such Lender hereunder.

 

2.6
Use of Proceeds.

 

(a)
On the Closing Date.

 

		(i)	The proceeds of the Term Loans shall be applied by the Borrowers on the Closing Date, first, to
repay and discharge in full the Existing Indebtedness, and, second, to pay the 2018 Dividend, and consummate the other Related
Transactions; provided, that, if the 2018 Dividend is not paid on the Closing Date, an amount equal to the Dividend Term
Loan Proceeds may be maintained on the balance sheet of the Borrowers until the earlier of (x) the consummation of the 2018 Dividend
and (y) the date on which such amount is required to be prepaid under Section 2.14(d)(i).

 

		(ii)	The Borrowers may apply proceeds of the Revolving Loans made on the Closing Date to fund any original
issue discount and/or upfront fees with respect to the Loans required pursuant to any applicable market flex provisions.

  

(b)
After the Closing Date. The proceeds of the Revolving Loans, Swing Line Loans made and Letters of Credit issued after the
Closing Date shall be applied by the Borrowers for working capital and general corporate purposes of Parent and its Restricted
Subsidiaries, including Permitted Acquisitions, post-closing costs and expenses relating to the Related Transactions, any original
issue discount and/or upfront fees with respect to the Loans required pursuant to any applicable market flex provisions and costs
and expenses related to any SPAC Transaction.

 

(c)
Incremental Term Loans. The proceeds of Incremental Term Loans shall be applied by the Borrowers for working capital and
general corporate purposes of Parent and its Restricted Subsidiaries, including Permitted Acquisitions, and as otherwise agreed
by the Borrowers and the Lenders providing such Incremental Term Loans to the extent not otherwise prohibited under the Credit
Documents.

 

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(d)
Margin Regulations. Parent and its Restricted Subsidiaries shall not use any portion of the proceeds of any Credit Extension
to purchase or carry any Margin Stock or to extend credit to others for the purpose of purchasing or carrying any Margin Stock
or for any purpose that violates the provisions of Regulation T, U or X of the Board of Governors.

 

(e)
Anti-Corruption Laws, AML Laws, and Sanctions. The Borrowers shall not request any Loan or Letter of Credit, nor use, and
shall procure that its Subsidiaries and its or their respective directors, officers, employees, controlled Affiliates and agents
shall not use, directly or indirectly, the proceeds of any Loan or Letter of Credit, or lend, contribute or otherwise make available
such proceeds to any Subsidiary, other Affiliate, joint venture partner or other Person, (i) in furtherance of an offer, payment,
promise to pay, or authorization of the payment or giving of money, or anything else of value, to any Person in violation in any
material respect of any Anti-Corruption Laws or AML Laws, (ii) for the purpose of funding, financing or facilitating any activities,
business or transaction of or with any Sanctioned Person, or in any Sanctioned Country, or involving any goods originating in
or with a Sanctioned Person or Sanctioned Country, in each case in violation of Sanctions, or (iii) in any manner that would result
in the violation of any Sanctions by any Person (including any Person participating in the transactions contemplated hereunder,
whether as underwriter, advisor lender, investor or otherwise).

 

2.7
Evidence of Debt; Notes.

 

(a)
Evidence of Debt. Each Lender shall maintain on its internal records an account or accounts evidencing the Indebtedness
of the Borrowers to such Lender, including the amounts of the Loans made by it and each repayment and prepayment in respect thereof.
Any such recordation shall be conclusive and binding on the Borrowers, absent manifest or demonstrable error; provided,
failure to make any such recordation, or any error in such recordation, shall not affect any Lender’s Revolving Credit Commitments
or the Borrowers’ Obligations in respect of any applicable Loans; and provided further, if there is any inconsistency
between the Register and any Lender’s records, the recordations in the Register shall govern.

 

(b)
Notes. If so requested by any Lender by written notice to the Borrower Representative (with a copy to the Administrative
Agent) at least two (2) Business Days prior to the Closing Date, or at any time thereafter, the Borrowers shall execute and deliver
to such Lender (and/or, if applicable and if so specified in such notice, to any Person who is an assignee of such Lender pursuant
to Section 10.6) on the Closing Date (or, if such notice is delivered after the Closing Date, promptly after the Borrower Representative’s
receipt of such notice) a Note or Notes to evidence such Lender’s applicable Loan.

 

2.8
Interest on Loans.

 

(a)
Interest. Except as otherwise set forth herein, each Loan shall bear interest on the unpaid principal amount thereof from
the date made through repayment thereof (whether by acceleration or otherwise) at an interest rate determined for the Class of
such Loan equal to (x) the Base Rate or the Adjusted Eurodollar Rate, as applicable, plus (y) the Applicable Margin for
such Type of Loan.

 

(b)
Interest Rate Election. The basis for determining the rate of interest with respect to any Loan (except a Swing Line Loan
which can be made and maintained as Base Rate Loans only), and the Interest Period with respect to any Eurodollar Loan, shall
be selected by the Borrower Representative and notified to the Administrative Agent pursuant to the applicable Funding Notice
or Conversion/Continuation Notice, as the case may be; provided, until the earlier of (x) the date that the Administrative
Agent shall notify the Borrower Representative that the primary syndication of the Loans and Revolving Credit Commitments has
been completed (which it will promptly do upon the completion thereof), and (y) the sixtieth day following the Closing Date (such
earlier date, the “Syndication Date”), all Loans shall be borrowed and remain outstanding as Base Rate Loans,
except that the Borrowers may borrow Loans as Eurodollar Loans or convert Base Rate Loans into Eurodollar Loans in accordance
with Section 2.9(a) and thereafter continue such Eurodollar Loans in accordance with Section 2.9(b), in each case, with an Interest
Period of one week. If on any day a Loan is outstanding with respect to which a Funding Notice or Conversion/Continuation Notice
has not been delivered to the Administrative Agent in accordance with the terms hereof specifying the applicable basis for determining
the rate of interest, then for that day such Loan shall be a Eurodollar Loan with an Interest Period of one month (or if prior
to the Syndication Date, one week).

 

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(c)
Interest Periods. In connection with Eurodollar Loans there shall be no more than seven (7) Interest Periods outstanding
at any time; provided, after the establishment of any tranche of new Loans pursuant to an Extension, such number of Interest
Periods shall increase by two (2) Interest Periods for each such new tranche of Loans so established. If the Borrower Representative
fails to specify between a Base Rate Loan or a Eurodollar Loan in the applicable Funding Notice or Conversion/Continuation Notice,
such Loan (x) if outstanding as a Eurodollar Loan will be automatically continued on the last day of then-current Interest Period
for such Loan as a Eurodollar Loan with an Interest Period of one month (or, if prior to the Syndication Date, one week) and (y)
if outstanding as a Base Rate Loan will remain as, or (if not then outstanding) will be made as, a Base Rate Loan). If the Borrower
Representative fails to specify an Interest Period for any Eurodollar Loan in the applicable Funding Notice or Conversion/Continuation
Notice, the Borrower Representative shall be deemed to have selected an Interest Period of, prior to the Syndication Date, one
week, and thereafter, one month. As soon as practicable after 10:00 a.m. on each Interest Rate Determination Date, the Administrative
Agent shall determine (which determination shall, absent manifest error, be final, conclusive and binding upon all parties) the
interest rate that shall apply to the Eurodollar Loans for which an interest rate is then being determined for the applicable
Interest Period and shall promptly give notice thereof (in writing or by telephone confirmed in writing) to the Borrower Representative
and each Lender.

 

(d)
Computation of Interest. Interest payable pursuant to Section 2.8(a) shall be computed (i) in the case of Base Rate Loans
on the basis of a 365-day or 366-day year, as the case may be, and (ii) in the case of Eurodollar Loans, on the basis of a 360-day
year, in each case for the actual number of days elapsed in the period during which it accrues. In computing interest on any Loan,
the date of the making of such Loan or the first day of an Interest Period applicable to such Loan or, with respect to a Base
Rate Loan being converted from a Eurodollar Loan, the date of conversion of such Eurodollar Loan to such Base Rate Loan, as the
case may be, shall be included, and the date of payment of such Loan or the expiration date of an Interest Period applicable to
such Loan or, with respect to a Base Rate Loan being converted to a Eurodollar Loan, the date of conversion of such Base Rate
Loan to such Eurodollar Loan, as the case may be, shall be excluded; provided, if a Loan is repaid on the same day on which
it is made, one day’s interest shall be paid on that Loan.

 

(e)
Interest Payable. Except as otherwise set forth herein, interest on each Loan shall accrue on a daily basis and be payable
in arrears (i) on each Interest Payment Date applicable to that Loan; (ii) concurrently with any prepayment of that Loan, whether
voluntary or mandatory, to the extent accrued on the amount being prepaid; and (iii) at maturity, including final maturity; provided,
with respect to any voluntary prepayment of a Revolving Loan outstanding as a Base Rate Loan, accrued interest shall instead be
payable on the applicable Interest Payment Date and, provided further, no interest shall be due hereunder (or under any Note)
prior to the end of the first full Fiscal Quarter following the Closing Date.

 

    	 	67	 

     

    

 

(f)
Interest on Letters of Credit. Each Borrower agrees to pay to an Issuing Bank, with respect to drawings honored under any
Letter of Credit, interest on the amount paid by such Issuing Bank in respect of each such honored drawing from the date such
drawing is honored to but excluding the date such amount is reimbursed by or on behalf of the Borrowers at a rate equal to (i)
for the period from the date such drawing is honored to but excluding the applicable Reimbursement Date, the rate of interest
otherwise payable hereunder with respect to Revolving Loans that are Base Rate Loans, and (ii) thereafter, a rate which is 2.00%
per annum in excess of the rate of interest otherwise payable hereunder with respect to Revolving Loans that are Base Rate Loans.
Interest payable pursuant to this Section 2.8(f) shall be computed on the basis of a 365/366-day year for the actual number of
days elapsed in the period during which it accrues, and shall be payable on demand or, if no demand is made, on the date on which
the related drawing under a Letter of Credit is reimbursed in full. Promptly upon receipt by an Issuing Bank of any payment of
interest pursuant to this Section 2.8(f), such Issuing Bank shall distribute to each Revolving Lender, out of the interest received
by such Issuing Bank in respect of the period from the date such drawing is honored to but excluding the date on which such Issuing
Bank is reimbursed for the amount of such drawing (including any such reimbursement out of the proceeds of any Revolving Loans),
the amount that such Revolving Lender would have been entitled to receive in respect of the letter of credit fee that would have
been payable in respect of such Letter of Credit for such period if no drawing had been honored under such Letter of Credit. If
such Issuing Bank shall have been reimbursed by the Revolving Lenders for all or any portion of such honored drawing, such Issuing
Bank shall distribute to each Revolving Lender which has paid all amounts payable by it under Section 2.4(e) with respect to such
honored drawing such Revolving Lender’s Pro Rata Share of any interest received by such Issuing Bank in respect of that
portion of such honored drawing so reimbursed by the Revolving Lenders for the period from the date on which such Issuing Bank
was so reimbursed by the Revolving Lenders to but excluding the date on which such portion of such honored drawing is reimbursed
by the Borrowers.

 

2.9
Conversion and Continuation.

 

(a)
Conversion. Subject to Section 2.18, the Borrowers shall have the option to convert at any time all or any part of any
Term Loan, Revolving Loan or Incremental Term Loan equal to $500,000 and integral multiples of $100,000 in excess of that amount
from one Type of Loan to another Type of Loan; provided, a Eurodollar Loan may not be converted on a date other than the
expiration date of the Interest Period applicable to such Eurodollar Loan unless the Borrowers shall pay all amounts due under
Section 2.18 in connection with any such conversion; provided, further, if an Event of Default has occurred and
is continuing, the Administrative Agent or the Required Lenders may prohibit the Borrowers from converting any Term Loan or Revolving
Loan to a Eurodollar Loan.

 

(b)
Continuation. Subject to Section 2.18, the Borrowers shall also have the option, upon the expiration of any Interest Period
applicable to any Eurodollar Loan, to continue all or any portion of such Loan equal to $500,000 and integral multiples of $100,000
in excess of that amount as a Eurodollar Loan; provided, if an Event of Default has occurred and is continuing, the Administrative
Agent or the Required Lenders may prohibit the Borrower from continuing any Eurodollar Loan as such.

 

(c)
Conversion/Continuation Notice. The Borrower Representative shall deliver a Conversion/Continuation Notice to the Administrative
Agent at the Notice Office no later than 11:00 a.m. at least one Business Day in advance of the proposed conversion date (in the
case of a conversion to a Base Rate Loan) and at least three (3) Business Days in advance of the proposed Conversion/Continuation
Date (in the case of a conversion to, or a continuation of, a Eurodollar Loan). Except as otherwise provided herein, a Conversion/Continuation
Notice for conversion to, or continuation of, any Eurodollar Loans (or telephonic notice in lieu thereof) shall be irrevocable
on and after the date of receipt thereof by the Administrative Agent, and the Borrowers shall be bound to effect a conversion
or continuation in accordance therewith.

 

    	 	68	 

     

    

 

2.10
Default Interest. During the continuance of an Event of Default under Section 8.1(a) in respect of a failure to pay
principal of or interest on any Loan or any fee owing under Section 2.11, 8.1(f) or 8.1(g), the Borrowers shall pay interest on
past due amounts owing by it hereunder at a fluctuating interest rate per annum at all times equal to the Default Rate to the
fullest extent permitted by applicable Laws; provided, no interest at the Default Rate shall accrue or be payable to a
Defaulting Lender so long as such Lender shall be a Defaulting Lender. Accrued and unpaid interest on such amounts (including
interest on past due interest) shall be due and payable upon written demand. Payment or acceptance of the increased rates of interest
provided for in this Section 2.10 is not a permitted alternative to timely payment and shall not constitute a waiver of any Event
of Default or otherwise prejudice or limit any rights or remedies of the Administrative Agent or any Lender.

 

2.11
Fees.

 

(a)
Commitment Fees. The Borrowers agree to pay to the Revolving Lenders commitment fees equal to (i) the average of the daily
difference between (A) the Revolving Credit Commitments, and (B) the sum of (1) the aggregate principal amount of outstanding
Revolving Loans (but not any outstanding Swing Line Loans), plus (2) the Letter of Credit Obligations, times (ii)
the Applicable Commitment Fee Percentage.

 

(b)
Letter of Credit Fees. The Borrowers also agree to pay to the Revolving Lenders letter of credit fees, payable in Dollars,
equal to (i) the Applicable Margin for Revolving Loans that are Eurodollar Loans, times (ii) the average aggregate daily
maximum amount (calculated, in the case of any Alternate Currency Letter of Credit, based on the Dollar Equivalent thereof) available
to be drawn under all outstanding Letters of Credit (regardless of whether any conditions for drawing could then be met and determined
as of the close of business on any date of determination).

 

(c)
Fronting Fees. The Borrowers agree to pay directly to an Issuing Bank, for its own account, a fronting fee payable in Dollars
equal to (i) 0.125%, per annum, times (ii) the average aggregate daily maximum amount available (calculated, in the case
of any Alternate Currency Letter of Credit, based on the Dollar Equivalent thereof) to be drawn under all Letters of Credit (determined
as of the close of business on any date of determination).

 

(d)
Documentary and Processing Charges. The Borrowers also agree to pay directly to the applicable Issuing Bank, for its own
account, such reasonable documentary and processing charges for any issuance, amendment, transfer or payment of a Letter of Credit
as are in accordance with such Issuing Bank’s standard schedule for such charges and as in effect at the time of such issuance,
amendment, transfer or payment, as the case may be.

 

(e)
Computation and Payment of Fees. All fees referred to in Sections 2.11(a), 2.11(b) and 2.11(c) shall be (i) calculated
on the basis of a 360-day year and the actual number of days elapsed and (ii) payable quarterly in arrears on March 31, June 30,
September 30 and December 31 of each year during the Revolving Credit Commitment Period, commencing on the last day of the first
full Fiscal Quarter ending after the Closing Date, and on the Revolving Credit Commitment Termination Date.

 

(f)
Payment to Lenders. All fees referred to in Sections 2.11(a) and 2.11(b) shall be paid when due to the Administrative Agent
at the Payment Office and upon receipt thereof, the Administrative Agent shall promptly distribute to each Lender its Pro Rata
Share thereof.

 

(g)
Fees to Lead Arranger and Agents. In addition to any of the foregoing fees, the Borrowers agree to pay to the Lead Arranger,
the Administrative Agent and the Collateral Agent such other fees in the amounts and at the times separately agreed upon in writing.

 

    	 	69	 

     

    

 

(h)
Repricing Event. If the Borrowers in connection with any Repricing Event, (i) make a prepayment of the Initial Term Loans
pursuant to Section 2.13(a), (ii) make a prepayment of the Initial Term Loans pursuant to Section 2.14(b) or (iii) effect any
amendment with respect to the Initial Term Loans, in each case, on or prior to the six month anniversary of the Closing Date,
the Borrowers shall pay to each Term Loan Lender holding Initial Term Loans (x) with respect to clauses (i) and (ii), a prepayment
premium in an amount equal to 1.00% of the principal amount of the Initial Term Loans affected by such reduction in interest rate
margins held by such Term Loan Lender that are prepaid, and (y) with respect to clause (iii), a prepayment premium in an amount
equal to 1.00% of the principal amount of the Initial Term Loans held by such Term Loan Lender, regardless of whether such Term
Loan Lender consented to such amendment. As used herein, “Repricing Event” means, other than in connection
with (1) any initial public offering, (2) any transformative acquisition that is not permitted under this Agreement, (3) a transaction
that would result in a Change of Control or (4) a SPAC Transaction, (A) any prepayment of the Initial Term Loans, in whole or
in part, with the proceeds of, or any conversion of the Initial Term Loans into, any new or replacement tranche of term loans,
the primary purpose of which is to reduce the interest rate margins thereon to have an All-In-Yield less than the All-In-Yield
applicable to the Initial Term Loans or (B) any amendment to this Agreement the primary purpose of which is to reduce the “effective”
interest rate applicable to the Initial Term Loans to have an All-In-Yield less than the All-In-Yield applicable to the then outstanding
Initial Term Loans.

 

2.12
Installments and Maturity.

 

(a)
The principal amounts of the Initial Term Loans shall be repaid in installments in the aggregate amounts set forth below on the
date correlative thereto; provided, such installments shall be reduced in connection with any voluntary or mandatory prepayments
of the Initial Term Loans in accordance with Section 2.15:

 

	

        Installment
Date 
	 	Installment
	 	 	 
	Each
    March 31, June 30, September 30 and December 31 (beginning with September 30, 2018) and ending prior to the Initial Term Loan
    Maturity Date	 	

        $770,000

         

	 	 	 
	Initial
    Term Loan Maturity Date	 	Outstanding
    aggregate principal amount of the Initial Term Loans

 

(b)
The principal amount of any other Class of Term Loans shall be repaid in installments, if any, as set forth in the applicable
Joinder Agreement, Extension Amendment or Permitted Refinancing Amendment, and in any event, shall be paid in full no later than
the applicable Maturity Date with respect thereto.

 

2.13
Voluntary Prepayments and Reductions.

 

(a)
Voluntary Prepayments. Any time and from time to time, with respect to any Type of Loan, the Borrowers may prepay, without
premium or penalty (but subject to Sections 2.11(h) and 2.18(c), as applicable), any Loan on any Business Day in whole or in part,
in an aggregate minimum amount of and integral multiples in excess of that amount (or, if less, the aggregate outstanding principal
amount of the Class of Loans to be prepaid), and upon prior written or telephonic notice, in each case, as set forth in the following
table:

 

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	Type of Loan	 	Minimum Amount	 	 	Integral Multiple	 	 	Prior Notice
	Base Rate Loans 
(other than Swing Line Loans)	 	$	500,000	 	 	$	100,000	 	 	One Business Day
	Eurodollar Loans	 	$	500,000	 	 	$	100,000	 	 	Three Business Days
	Swing Line Loans	 	$	100,000	 	 	$	50,000	 	 	Same Day

 

in
each case given to the Administrative Agent or the Swing Line Lender, as the case may be, by 12:00 noon on the date required and,
if given by telephone, promptly confirmed in writing to the Administrative Agent, and the Administrative Agent will promptly transmit
such telephonic or original notice to each applicable Lender. Upon the giving of any such notice, the principal amount of the
Loans specified in such notice shall become due and payable on the prepayment date specified therein; provided, such prepayment
obligation may be conditioned on the occurrence of any subsequent event (including a Change of Control or refinancing transaction).

 

(b)
Voluntary Commitment Reductions. The Borrowers may, upon not less than three (3) Business Days’ prior written or
telephonic notice confirmed in writing to the Administrative Agent (which original written or telephonic notice the Administrative
Agent will promptly transmit by telefacsimile, e-mail or telephone to each applicable Lender), at any time and from time to time
terminate in whole or permanently reduce in part, without premium or penalty, the Revolving Credit Commitments in an amount up
to the amount by which the Revolving Credit Commitments exceed the Total Utilization of Revolving Credit Commitments at the time
of such proposed termination or reduction; provided, any such partial reduction of the Revolving Credit Commitments shall
be in an aggregate minimum amount of $500,000 and integral multiples of $100,000 in excess of that amount. The Borrower Representative’s
notice to the Administrative Agent shall designate the date (which shall be a Business Day) of such termination or reduction and
the amount of any partial reduction, and such termination or reduction of the Revolving Credit Commitments shall be effective
on the date specified in the Borrower Representative’s notice and shall (subject to Section 2.22(d)) reduce the Revolving
Commitment of each Lender proportionately to its Pro Rata Share thereof; provided, such commitment reduction may be conditioned
on the occurrence of any subsequent event (including a Change of Control or refinancing transaction).

 

2.14
Mandatory Prepayments and Reductions.

 

(a)
Dispositions; Casualty/Condemnation Events. No later than the third Business Day following the date of receipt by Parent
or any of its Restricted Subsidiaries of any Net Cash Proceeds resulting from a Disposition consummated in reliance on Section
6.9(k) or 6.9(l) or from any Casualty/Condemnation Event, the Borrowers shall prepay the Loans and/or the Revolving Credit Commitments
shall be permanently reduced as set forth in Section 2.15(b) in an aggregate amount equal to such Net Cash Proceeds; provided,
so long as no Event of Default shall have occurred and be continuing, Parent and its Restricted Subsidiaries (subject, in the
case of Parent, to Section 6.13) shall have the option, directly or through one or more of its Restricted Subsidiaries, to invest
such Net Cash Proceeds within three hundred sixty (360) days of receipt thereof in long-term productive assets of the general
type used in the business of Parent and its Restricted Subsidiaries (including, in respect of any Casualty/Condemnation Event,
to repair, restore or replace the assets affected thereby); provided further, if Parent or a Restricted Subsidiary enters
into a legally binding commitment (and has provided the Administrative Agent a copy of such binding commitment) to invest such
Net Cash Proceeds within such 360-day period, it may directly or through one or more of its Restricted Subsidiaries so invest
such Net Cash Proceeds within the later of (x) three hundred sixty (360) days following the receipt of such Net Cash Proceeds
or (y) one hundred eighty (180) days after the date of entry into such legally binding commitment.

 

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(b)
Issuance of Debt. No later than the third Business Day (or such later date as is acceptable to the Administration Agent)
following receipt of cash proceeds from the incurrence of any Indebtedness by Parent or any of its Restricted Subsidiaries (other
than with respect to any Indebtedness permitted to be incurred pursuant to Section 6.1 (other than any Permitted Credit Agreement
Refinancing Indebtedness)), the Borrowers shall prepay the Loans and/or the Revolving Credit Commitments shall be permanently
reduced as set forth in Section 2.15(b) in an aggregate amount equal to 100% of the cash proceeds from such incurrence, net of
any underwriting discounts and commissions and other reasonable costs and expenses associated therewith, including reasonable
legal fees and expenses.

 

(c)
Consolidated Excess Cash Flow. If there shall be Consolidated Excess Cash Flow for any Fiscal Year (commencing with the
Fiscal Year ending December 31, 2019), the Borrowers shall, no later than ten (10) Business Days after the date the annual financial
statements for such Fiscal Year are required to be delivered pursuant to Section 5.1(b), prepay the Loans and/or the Revolving
Credit Commitments shall be permanently reduced as set forth in Section 2.15(b) in an aggregate amount equal to (i) 50% of such
Consolidated Excess Cash Flow (which percentage shall be reduced to (x) 25% if the Consolidated First Lien Net Leverage Ratio
determined for such Fiscal Year is 3.40:1.00 or less, and (y) 0% if the Consolidated First Lien Net Leverage Ratio determined
for such Fiscal Year is 2.90:1.00 or less, in each case, by reference to the Compliance Certificate delivered pursuant to Section
5.1(c) calculating the Consolidated Total Net Leverage Ratio as of the last day of such Fiscal Year), minus (ii) voluntary
prepayments of the Loans and any Incremental Equivalent Debt secured by the Collateral on a pari passu basis with the Initial
Term Loans or Revolving Loans (provided, with respect to any prepayment at a discount to par of such Term Loans or such
Incremental Equivalent Debt with credit only given for the actual amount of cash payment) and the amount of any premium, make
whole or penalty paid in connection therewith, but excluding (x) repayments of Revolving Loans or Swing Line Loans except to the
extent the Revolving Credit Commitments are permanently reduced in connection with such repayments, (y) any repayments of the
Loans made with the proceeds of any Permitted Cure Securities issued in connection with the Cure Right and (z) any repayments
of the Loans made with the proceeds of any long-term indebtedness of Parent or any Restricted Subsidiaries.

 

(d)
Prepayment of Unutilized Loan Proceeds. No later than 20 days after the Closing Date, the Borrowers shall prepay (on such
20th day) 100% of the Dividend Term Loan Proceeds, unless the 2018 Dividend has been paid on or before such 20th
day.

 

(e)
Revolving Credit Limit. If at any time the Total Utilization of Revolving Credit Commitments exceeds the Revolving Credit
Limit then in effect, the Borrowers shall promptly prepay first, the Swing Line Loans, and second, the Revolving
Loans to the extent necessary so that the Total Utilization of Revolving Credit Commitments shall not at any time exceed the Revolving
Credit Limit then in effect. If after giving effect to any prepayments required pursuant to the preceding sentence, the Total
Utilization of Revolving Credit Commitments exceeds the Revolving Credit Limit, the Borrowers shall promptly Cash Collateralize
Letter of Credit Obligations in an amount equal to such excess.

 

(f)
Revaluation Date. If as a result of changes in currency exchange rates, on any Revaluation Date, the Letter of Credit Obligations
exceed the Letter of Credit Sublimit by more than $200,000, the Borrowers shall, in each case within five (5) Business Days after
being notified thereof by the Administrative Agent, Cash Collateralize all Letters of Credit in accordance with Section 2.4(h),
in an aggregate amount such that the Letter of Credit Obligations, less the amount thereof so Cash Collateralized, do not exceed
the Letter of Credit Sublimit. If the Borrowers shall have Cash Collateralized any Letters of Credit in accordance with the prior
sentence, and thereafter, on a Revaluation Date, the Letter of Credit Sublimit exceeds the Letter of Credit Obligations by more
than $25,000, the Administrative Agent shall, within five (5) Business Days after being notified thereof by the Borrower and only
so long as no Event of Default is then continuing, refund to the Borrowers such excess.

 

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(g)
Prepayment Certificate. Concurrently with any prepayment of the Loans and/or reduction of the Revolving Credit Commitments
pursuant to Sections 2.14(a) through 2.14(d), the Borrower Representative shall deliver to the Administrative Agent a certificate
of an Authorized Officer demonstrating the calculation of the amount of the applicable Net Cash Proceeds or Consolidated Excess
Cash Flow, as the case may be. If the Borrower Representative shall subsequently determine that the actual amount received exceeded
the amount set forth in such certificate, the Borrowers shall promptly make an additional prepayment of the Loans and/or the Revolving
Credit Commitments shall be permanently reduced in an amount equal to such excess, and the Borrower Representative shall concurrently
therewith deliver to the Administrative Agent a certificate of an Authorized Officer demonstrating the derivation of such excess.

 

(h)
Constraints on Upstreaming. Notwithstanding any other provision of this Section 2.14, with respect to any amount of Net
Cash Proceeds subject to Section 2.14(a) or any amount of Consolidated Excess Cash Flow subject to Section 2.14(c), in each case,
attributable to a Foreign Subsidiary, if the Borrower Representative determines in good faith that the upstreaming of cash equal
to such amount by such Foreign Subsidiary (i) would violate any local Law (e.g., financial assistance, thin capitalization, corporate
benefit, or the fiduciary and statutory duties of the directors of such Subsidiary) or any term of any Organizational Document
applicable to such Foreign Subsidiary, or (ii) would reasonably be expected to result in any greater than de minimus adverse costs
or tax consequences to Parent and its Restricted Subsidiaries (it being understood that, for the avoidance of doubt, costs and/or
taxes arising as a result of upstreaming of cash equal to such amount exceeding 2.5% of such amount would be greater than de minimus),
then such amount shall be excluded from such Net Cash Proceeds or such Consolidated Excess Cash Flow, as applicable; provided,
for one year from the date on which the obligation to make the applicable prepayment arose, the Borrowers and such Foreign Subsidiary
shall use commercially reasonable efforts to overcome or eliminate any such restrictions or minimize to a de minimus amount any
such costs of prepayment and, if successful, shall promptly make the applicable prepayment, unless the Borrower Representative
shall have determined in good faith that such actions would require the expenditure of a material amount of funds. For the avoidance
of doubt, nothing in this Agreement (including this Section 2.14) shall require the Borrowers or any of their Restricted Subsidiaries
to cause any amounts to be repatriated, whether directly or indirectly, and whether such repatriation is actual or deemed under
Section 956 of the Code, to the United States (whether or not such amounts are used in or excluded from the determination of the
amount of any mandatory prepayment hereunder).

 

(i)
Other Applicable Debt. If at the time that any prepayment pursuant to Section 2.14(a) would be required, the Borrowers
are also required to offer to repurchase Permitted First Priority Refinancing Debt or Incremental Equivalent Debt (in each case,
to the extent secured by Liens on the assets giving rise to such prepayment on a pari passu basis with the Obligations), in each
case pursuant to the terms of the documentation governing such Indebtedness with Net Cash Proceeds with respect to any property
or assets constituting Collateral (such Indebtedness required to be offered to be so repurchased, “Other Applicable Debt”),
then the Borrowers may apply such Net Cash Proceeds on a pro rata basis (determined on the basis of the aggregate outstanding
principal amount of the Term Loans and Other Applicable Debt at such time; provided, the portion of such Net Cash Proceeds
allocated to the Other Applicable Debt shall not exceed the amount of such Net Cash Proceeds required to be allocated to the Other
Applicable Debt pursuant to the terms thereof, and the remaining amount, if any, of such Net Cash Proceeds shall be allocated
to the Term Loans in accordance with the terms hereof) to the prepayment of the Term Loans and to the repurchase or prepayment
of Other Applicable Debt, and the amount of prepayment of the Term Loans that would have otherwise been required pursuant to this
Section 2.14(i) shall be reduced accordingly; provided further, to the extent the holders of Other Applicable Debt decline
to have such Other Applicable Debt repurchased or prepaid, the declined amount shall promptly (and in any event within ten (10)
Business Days after the date of such rejection) be applied to prepay the Term Loans in accordance with the terms hereof, subject,
in any event, to Section 2.15(d).

 

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2.15
Application of Prepayments.

 

(a)
Application of Voluntary Prepayments. Any prepayment of any Loan pursuant to Section 2.13(a) shall be applied as specified
by the Borrower Representative in the applicable notice of prepayment; provided, any such prepayment of Term Loans shall
be applied to prepay the Term Loans across all Classes of Term Loans on a pro rata basis (in accordance with the respective outstanding
principal amounts thereof); provided, further, absent such direction by the Borrower Representative, such prepayment
shall be applied to the remaining scheduled principal payments of the Term Loans in direct order of maturity thereof.

 

(b)
Application of Mandatory Prepayments. Subject to Section 2.15(d), any amount required to be paid pursuant to Sections 2.14(a)
through 2.14(d) shall be applied:

 

first,
to prepay the Term Loans on a pro rata basis (in accordance with the respective outstanding principal amounts thereof), and shall
be further applied as specified by the Borrower Representative or, absent such specification, in the direct order of maturity
to the remaining installments of principal of the Term Loans; provided, that any mandatory prepayment pursuant to Section
2.14(d) shall be applied ratably against the then remaining scheduled principal payments of the Term Loans;

 

second,
to prepay the Swing Line Loans to the full extent thereof without any permanent reduction in the Revolving Credit Commitments;

 

third,
to prepay the Revolving Loans to the full extent thereof without any permanent reduction in the Revolving Credit Commitments;

 

fourth,
to prepay outstanding reimbursement obligations with respect to Letters of Credit without any permanent reduction in the Revolving
Credit Commitments; and

 

fifth,
to Cash Collateralize all Letters of Credit in accordance with Section 2.4(h) without any permanent reduction in the Revolving
Credit Commitments.

 

(c)
Application of Prepayments to Types of Loans. Considering each Class of Loans being prepaid separately, any prepayment
thereof shall be applied first to Base Rate Loans to the full extent thereof before application to Eurodollar Loans, in each case
in a manner which minimizes the amount of any payment required to be made by the Borrowers pursuant to Section 2.18(c).

 

(d)
Waivable Mandatory Prepayment. Anything contained herein to the contrary notwithstanding, so long as any Term Loans are
outstanding, if the Borrowers are required to make any mandatory prepayment (a “Waivable Mandatory Prepayment”)
of the Term Loans, not less than three (3) Business Days prior to the date (the “Required Prepayment Date”)
on which the Borrowers are required to make such Waivable Mandatory Prepayment, the Borrower Representative may notify the Administrative
Agent of the amount of such prepayment, and the Administrative Agent will promptly thereafter notify each Lender holding outstanding
Term Loans of the amount of such Lender’s Pro Rata Share of such Waivable Mandatory Prepayment and such Lender’s option
to refuse such amount. Each such Lender may exercise such option by giving written notice to the Borrower Representative and the
Administrative Agent of its election to do so on or before the first Business Day prior to the Required Prepayment Date (it being
understood that any Lender which does not notify the Borrower Representative and the Administrative Agent of its election to exercise
such option on or before the first Business Day prior to the Required Prepayment Date shall be deemed to have elected, as of such
date, not to exercise such option). On the Required Prepayment Date, the Borrowers shall retain that amount of the Waivable Mandatory
Prepayment with respect to which each Lender, if any, shall have exercised its option to refuse (the “Declined Proceeds”).

 

    	 	74	 

     

    

  

2.16
General Provisions Regarding Payments.

 

(a)
Payments Due. All payments by the Borrowers of principal, interest, fees and other Obligations shall be made in Dollars
in same day funds, without defense, setoff or counterclaim, free of any restriction or condition, and delivered to the Administrative
Agent not later than 1:00 p.m. on the date due at the Payment Office for the account of the Lenders; for purposes of computing
interest and fees, funds received by the Administrative Agent after that time on such due date may in the discretion of the Administrative
Agent be deemed to have been paid by the Borrowers on the next succeeding Business Day.

 

(b)
Presumptions by Administrative Agent. Unless the Administrative Agent shall have received notice from the Borrower Representative
prior to the date on which any payment is due to the Administrative Agent for the account of the Lenders or an Issuing Bank hereunder
that the Borrowers will not make such payment, the Administrative Agent may assume that the Borrowers have made such payment on
such date in accordance herewith and may, in reliance upon such assumption, distribute to the Lenders or Issuing Banks, as the
case may be, the amount due. In such event, if the Borrowers have not in fact made such payment, then each of the Lenders or such
Issuing Bank, as the case may be, severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed
to such Lender or such Issuing Bank, with interest thereon, for each day from and including the date such amount is distributed
to it to but excluding the date of payment to the Administrative Agent, at the greater of the Federal Funds Effective Rate and
a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation.

 

(c)
Payments to Include Interest. All payments in respect of the principal amount of any Loan shall include payment of accrued
interest on the principal amount being repaid or prepaid (other than voluntary prepayments of Revolving Loans outstanding as Base
Rate Loans, which shall instead be payable on the applicable Interest Payment Date), and all such payments (and, in any event,
any payments in respect of any Loan on a date when interest is due and payable with respect to such Loan) shall be applied to
the payment of interest then due and payable before application to principal.

 

(d)
Distribution of Payments. The Administrative Agent shall promptly distribute to each Lender at such address as such Lender
shall indicate in writing, such Lender’s applicable Pro Rata Share of all payments and prepayments of principal and interest
due hereunder, together with all other amounts due thereto, including all fees payable with respect thereto, to the extent received
by the Administrative Agent.

 

(e)
Affected Lender. Notwithstanding the foregoing provisions hereof, if any Conversion/Continuation Notice is withdrawn as
to any Affected Lender or if any Affected Lender makes Base Rate Loans in lieu of its Pro Rata Share of any Eurodollar Loans,
the Administrative Agent shall give effect thereto in apportioning payments received thereafter.

 

(f)
Payment Due on Non-Business Day. Subject to the provisos set forth in the definition of “Interest Period”,
whenever any payment to be made hereunder shall be stated to be due on a day that is not a Business Day, such payment shall be
made on the next succeeding Business Day and such extension of time shall be included in the computation of the payment of interest
hereunder or of the Revolving Credit Commitment fees hereunder.

 

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(g)
Borrowers’ Accounts. Each Borrower hereby authorizes the Administrative Agent to charge each Borrower’s accounts
with the Administrative Agent in order to cause timely payment to be made to the Administrative Agent of all principal, interest
and fees pursuant to Section 2.11 due hereunder (subject to sufficient funds being available in its accounts for that purpose).

 

(h)
Non-Conforming Payment. If any payment by or on behalf of the Borrowers hereunder is not made in same day funds prior to
1:00 p.m., the Administrative Agent may deem such payment to be a non-conforming payment and if so, shall give prompt telephonic
notice thereof to the Borrower Representative and each applicable Lender (confirmed in writing). Any non-conforming payment may
constitute or become a Default or Event of Default in accordance with the terms of Section 8.1(a). Interest shall continue to
accrue on any principal as to which a non-conforming payment is made until such funds become available funds (but in no event
less than the period from the date of such payment to the next succeeding applicable Business Day) at the rate determined pursuant
to Section 2.10 from the date such amount was due and payable until the date such amount is paid in full.

 

2.17
Ratable Sharing. If any Lender shall, by exercising any right of setoff or counterclaim or otherwise, obtain payment
in respect of any principal of or interest on any of its Loans or other obligations hereunder resulting in such Lender receiving
payment of a proportion of the aggregate amount of its Loans and accrued interest thereon or other such obligations greater than
its Pro Rata Share thereof as provided herein, then the Lender receiving such greater proportion shall (a) notify the Administrative
Agent of such fact, and (b) purchase (for cash at face value) participations in the Loans and such other obligations of the other
Lenders, or make such other adjustments as shall be equitable, so that the benefit of all such payments shall be shared by the
Lenders ratably in accordance with the aggregate amount of principal of and accrued interest on their respective Loans and other
amounts owing them; provided, (i) if any such participations are purchased and all or any portion of the payment giving
rise thereto is recovered, such participations shall be rescinded and the purchase price restored to the extent of such recovery,
without interest; and (ii) the provisions of this Section 2.17 shall not be construed to apply to (A) any payment made by the
Borrowers pursuant to and in accordance with the express terms of this Agreement (including the application of funds arising from
the existence of a Defaulting Lender), or (B) any payment obtained by a Lender as consideration for the assignment of or sale
of a participation in any of its Loans or participations in Letters of Credit to any assignee or Participant. Each Credit Party
consents to the foregoing and agrees, to the extent it may effectively do so under applicable law, that any Lender acquiring a
participation pursuant to the foregoing arrangements may exercise against each Credit Party rights of setoff and counterclaim
with respect to such participation as fully as if such Lender were a direct creditor of each Credit Party in the amount of such
participation.

 

2.18
Making or Maintaining Eurodollar Loans.

 

(a)
Inability to Determine Applicable Interest Rate. If the Administrative Agent shall have determined in good faith (which
determination shall be final and conclusive and binding upon all parties hereto, absent manifest error), on any Interest Rate
Determination Date with respect to any Eurodollar Loans, that by reason of circumstances affecting the London interbank market
adequate and fair means do not exist for ascertaining the interest rate applicable to such Loans on the basis provided for in
the definition of Adjusted Eurodollar Rate, the Administrative Agent shall on such date give notice (by telefacsimile, e-mail
or by telephone confirmed in writing) to the Borrower Representative and each Lender of such determination, whereupon (i) no Loans
may be made as, or converted to, Eurodollar Loans until such time as the Administrative Agent notifies the Borrower Representative
and the Lenders that the circumstances giving rise to such notice no longer exist (which the Administrative Agent agrees it will
promptly do at such time), (ii) any Funding Notice or Conversion/Continuation Notice given by the Borrower Representative with
respect to the Loans in respect of which such determination was made shall be deemed to be rescinded by the Borrower Representative
and (iii) the utilization of the Adjusted Eurodollar Rate component in determining the Base Rate shall be suspended, in each case,
until the Administrative Agent revokes such notice.

 

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(b)
Illegality or Impracticability of Eurodollar Loans. If on any date any Lender (in the case of clause (i) below) or the
Required Lenders (in the case of clause (ii) below) shall have determined in good faith (which determination shall be final and
conclusive and binding upon all parties hereto, absent manifest error) that the making, maintaining or continuation of its Eurodollar
Loans (i) has become unlawful as a result of compliance by such Lender in good faith with any Law (or would conflict with any
treaty, governmental rule, regulation, guideline or order not having the force of law even though the failure to comply therewith
would not be unlawful), or (ii) has become impracticable, as a result of contingencies occurring after the date hereof which materially
and adversely affect the London interbank market or the position of the Lenders in that market, then, and in any such event, the
affected Lenders shall each be an “Affected Lender” and shall on that day give notice (by e-mail or by telephone
confirmed in writing) to the Borrower Representative and the Administrative Agent of such determination (which notice the Administrative
Agent shall promptly transmit to each other Lender). If the Administrative Agent receives a notice from (A) any Lender pursuant
to clause (i) of the preceding sentence or (B) a notice from Lenders constituting Required Lenders pursuant to clause (ii) of
the preceding sentence, then (1) the obligation of the Lenders (or, in the case of any notice pursuant to clause (i) of the preceding
sentence, such Lender) to make Loans as, or to convert Loans to, Eurodollar Loans shall be suspended until such notice shall be
withdrawn by each Affected Lender, (2) to the extent such determination by the Affected Lender relates to a Eurodollar Loan then
being requested by the Borrowers pursuant to a Funding Notice or a Conversion/Continuation Notice, the Lenders (or in the case
of any notice pursuant to clause (i) of the preceding sentence, such Lender) shall make such Loan as (or continue such Loan as
or convert such Loan to, as the case may be) a Base Rate Loan, (3) the Lenders’ (or in the case of any notice pursuant to
clause (i) of the preceding sentence, such Lender’s) obligations to maintain their respective outstanding Eurodollar Loans
(the “Affected Loans”) shall be terminated at the earlier to occur of the expiration of the Interest Period
then in effect with respect to the Affected Loans or when required by Law, and (4) the Affected Loans shall automatically convert
into Base Rate Loans on the date of such termination. Notwithstanding the foregoing, to the extent a determination by an Affected
Lender as described above relates to a Eurodollar Loan then being requested by the Borrowers pursuant to a Funding Notice or a
Conversion/Continuation Notice, the Borrowers shall have the option, subject to the provisions of Section 2.18(c), to rescind
such Funding Notice or Conversion/Continuation Notice as to all Lenders by giving written or telephonic notice (promptly confirmed
by delivery of written notice thereof) to the Administrative Agent of such rescission on the date on which the Affected Lender
gives notice of its determination as described above (which notice of rescission the Administrative Agent shall promptly transmit
to each other Lender).

 

(c)
Compensation for Breakage or Non Commencement of Interest Periods. The Borrowers shall compensate each Lender, upon written
request by such Lender through the Administrative Agent (which request shall set forth the basis for requesting and calculation
of such amounts), for all reasonable losses, expenses and liabilities (including any interest paid or payable by such Lender to
Lenders of funds borrowed by it to make or carry its Eurodollar Loans and any loss, expense or liability sustained by such Lender
in connection with the liquidation or re-employment of such funds but excluding loss of anticipated profits) which such Lender
sustains: (i) if for any reason (other than a default by such Lender) a borrowing of any Eurodollar Loan does not occur on a date
specified therefor in a Funding Notice or a telephonic request for borrowing, or a conversion to or continuation of any Eurodollar
Loan does not occur on a date specified therefor in a Conversion/Continuation Notice or a telephonic request for conversion or
continuation; (ii) if any prepayment or other principal payment of, or any conversion of, any of its Eurodollar Loans occurs on
a date prior to the last day of an Interest Period applicable to that Loan; or (iii) if any prepayment of any of its Eurodollar
Loans is not made on any date specified in a notice of prepayment given by the Borrower Representative.

 

(d)
Booking of Eurodollar Loans. Any Lender may make, carry or transfer Eurodollar Loans at, to, or for the account of any
of its branch offices or the office of an Affiliate of such Lender.

 

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 (e)
Assumptions Concerning Funding of Eurodollar Loans. Calculation of all amounts payable to a Lender under this Section 2.18
and under Section 2.19 shall be made as though such Lender had actually funded each of its relevant Eurodollar Loans through the
purchase of a Eurodollar deposit bearing interest at the rate obtained pursuant to clause (y) of the definition of Adjusted Eurodollar
Rate in an amount equal to the amount of such Eurodollar Loan and having a maturity comparable to the relevant Interest Period
and through the transfer of such Eurodollar deposit from an offshore office of such Lender to a domestic office of such Lender
in the United States of America; provided, each Lender may fund each of its Eurodollar Loans in any manner it sees fit
and the foregoing assumptions shall be utilized only for the purposes of calculating amounts payable under this Section 2.18 and
under Section 2.19.

 

2.19
Increased Costs; Capital Adequacy.

 

(a)
Increased Costs Generally. If any Change in Law shall:

 

		(i)	impose, modify or deem applicable any reserve, special deposit, compulsory loan, insurance charge
or similar requirement against assets of, deposits with or for the account of, or credit extended or participated in by, any Lender
(except any reserve requirement reflected in the Adjusted Eurodollar Rate) or any Issuing Bank;

 

		(ii)	subject any Lender or any Issuing Bank to any Taxes (other than Indemnified Taxes, Excluded Taxes
or Connection Income Taxes) with respect to this Agreement, any Letter of Credit, any participation in a Letter of Credit or any
Eurodollar Loan made by it, its Commitments or other obligations hereunder, or its deposits, reserves, other liabilities or capital
attributable thereto; or

 

		(iii)	impose on any Lender or any Issuing Bank or the London interbank market any other condition, cost
or expense (other than Taxes) affecting this Agreement or Eurodollar Loans made by such Lender or any Letter of Credit or participation
therein;

  

and
the result of any of the foregoing shall be to increase the cost to such Lender of making, converting to, continuing or maintaining
any Eurodollar Loan or of maintaining its obligation to make any such Loan, or to increase the cost to such Lender or such Issuing
Bank of participating in, issuing or maintaining any Letter of Credit (or of maintaining its obligation to participate in or to
issue any Letter of Credit), or to reduce the amount of any sum received or receivable by such Lender or such Issuing Bank hereunder
(whether of principal, interest or any other amount) then, upon request of such Lender or such Issuing Bank, in either case through
the Administrative Agent, the Borrowers will pay to such Lender or such Issuing Bank, as the case may be, such additional amount
or amounts as will compensate such Lender or such Issuing Bank, as the case may be, for such additional costs incurred or reduction
suffered.

 

(b)
Capital Requirements. If any Lender or any Issuing Bank determines in good faith that any Change in Law affecting such
Lender or such Issuing Bank or any lending office of such Lender or such Lender’s or such Issuing Bank’s holding company,
if any, regarding capital or liquidity requirements, has or would have the effect of reducing the rate of return on such Lender’s
or such Issuing Bank’s capital or on the capital of such Lender’s or such Issuing Bank’s holding company, if
any, as a consequence of this Agreement, the Commitments of such Lender or the Loans made by, or participations in Letters of
Credit or Swing Line Loans held by, such Lender, or the Letters of Credit issued by such Issuing Bank, to a level below that which
such Lender or such Issuing Bank or such Lender’s or an Issuing Bank’s holding company would have achieved but for
such Change in Law (taking into consideration such Lender’s or such Issuing Bank’s policies and the policies of such
Lender’s or an Issuing Bank’s holding company with respect to capital adequacy or liquidity), then from time to time
the Borrowers will pay to such Lender or such Issuing Bank, as the case may be, such additional amount or amounts as will compensate
such Lender or an Issuing Bank or such Lender’s or such Issuing Bank’s holding company for any such reduction suffered.

 

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(c)
Certificates for Reimbursement. A certificate of a Lender or an Issuing Bank setting forth the amount or amounts necessary
to compensate such Lender or such Issuing Bank or its holding company (and the basis for requesting and calculation of such amounts),
as the case may be, as specified in Section 2.19(a) or 2.19(b) and delivered to the Borrower Representative through the Administrative
Agent, shall be conclusive absent manifest or demonstrable error. The Borrowers shall pay such Lender or such Issuing Bank, as
the case may be, the amount shown as due on any such certificate and owing under Section 2.19(a) or Section 2.19(b) within ten
(10) Business Days after receipt thereof.

 

(d)
Delay in Requests. Failure or delay on the part of any Lender or any Issuing Bank to demand compensation pursuant to this
Section shall not constitute a waiver of such Lender’s or such Issuing Bank’s right to demand such compensation; provided,
the Borrowers shall not be required to compensate a Lender or such Issuing Bank pursuant to this Section for any increased costs
incurred or reductions suffered more than six months prior to the date that such Lender or such Issuing Bank, as the case may
be, notifies the Borrower Representative of the Change in Law giving rise to such increased costs or reductions, and of such Lender’s
or such Issuing Bank’s intention to claim compensation therefor (except that, if the Change in Law giving rise to such increased
costs or reductions is retroactive, then the six-month period referred to above shall be extended to include the period of retroactive
effect thereof).

 

2.20
Taxes; Withholding, Etc.

 

(a)
Defined Terms. For purposes of this Section 2.20, the term “Lender” includes an Issuing Bank and the term “applicable
law” includes FATCA.

 

(b)
Payments Free of Taxes. Any and all payments by or on account of any obligation of any Credit Party under any Credit Document
shall be made without deduction or withholding for any Taxes, except as required by applicable law. If any applicable law (as
determined in the good faith discretion of an applicable Withholding Agent) requires the deduction or withholding of any Tax from
any such payment by a Withholding Agent, then the applicable Withholding Agent shall be entitled to make such deduction or withholding
and shall timely pay the full amount deducted or withheld to the relevant Governmental Authority in accordance with applicable
law and, if such Tax is an Indemnified Tax, then the sum payable by the applicable Credit Party shall be increased as necessary
so that after such deduction or withholding has been made (including such deductions and withholdings applicable to additional
sums payable under this Section) the applicable Recipient receives an amount equal to the sum it would have received had no such
deduction or withholding been made.

 

(c)
Payment of Other Taxes by the Borrowers. The Borrowers, or other applicable Credit Parties, shall timely pay to the relevant
Governmental Authority in accordance with applicable law, or at the option of the Administrative Agent timely reimburse it for
the payment of, any Other Taxes.

 

(d)
Indemnification by the Borrowers. The Credit Parties shall jointly and severally indemnify each Recipient, within 10 days
after demand therefor, for the full amount of any Indemnified Taxes (including Indemnified Taxes imposed or asserted on or attributable
to amounts payable under this Section) payable or paid by such Recipient or required to be withheld or deducted from a payment
to such Recipient and any reasonable expenses arising therefrom or with respect thereto, whether or not such Indemnified Taxes
were correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such payment
or liability delivered to the Borrower Representative by a Lender (with a copy to the Administrative Agent), or by the Administrative
Agent on its own behalf or on behalf of a Lender, shall be conclusive absent manifest or demonstrable error.

 

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(e)
Indemnification by the Lenders. Each Lender shall severally indemnify the Administrative Agent, within 10 days after demand
therefor, for (i) any Indemnified Taxes attributable to such Lender (but only to the extent that any Credit Party has not already
indemnified the Administrative Agent for such Indemnified Taxes and without limiting the obligation of the Credit Parties to do
so), (ii) any Taxes attributable to such Lender’s failure to comply with the provisions of Section 10.6(d) relating to the
maintenance of a Participant Register and (iii) any Excluded Taxes attributable to such Lender, in each case, that are payable
or paid by the Administrative Agent in connection with any Credit Document, and any reasonable expenses arising therefrom or with
respect thereto, whether or not such Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority.
A certificate as to the amount of such payment or liability delivered to any Lender by the Administrative Agent shall be conclusive
absent manifest or demonstrable error. Each Lender hereby authorizes the Administrative Agent to set off and apply any and all
amounts at any time owing to such Lender under any Credit Document or otherwise payable by the Administrative Agent to the Lender
from any other source against any amount due to the Administrative Agent under this paragraph (e).

 

(f)
Evidence of Payments. As soon as practicable after any payment of Taxes by any Credit Party to a Governmental Authority
pursuant to this Section 2.20, such Credit Party shall deliver to the Administrative Agent the original or a certified copy of
a receipt issued by such Governmental Authority evidencing such payment, a copy of the return reporting such payment or other
evidence of such payment reasonably satisfactory to the Administrative Agent.

 

(g)
Status of Lenders.

 

		(i)	Any Lender that is entitled to an exemption from or reduction of withholding Tax with respect to
payments made under any Credit Document shall deliver to the Borrower Representative and the Administrative Agent, at the time
or times prescribed by applicable law and at the time or times reasonably requested by the Borrower Representative or the Administrative
Agent, such properly completed and executed documentation reasonably requested by the Borrower Representative or the Administrative
Agent as will permit such payments to be made without withholding or at a reduced rate of withholding. In addition, any Lender,
if reasonably requested by the Borrower Representative or the Administrative Agent, shall deliver such other documentation prescribed
by applicable law or reasonably requested by the Borrower Representative or the Administrative Agent as will enable the Borrowers
or the Administrative Agent to determine whether or not such Lender is subject to backup withholding or information reporting requirements.
Notwithstanding anything to the contrary in the preceding two sentences, the completion, execution and submission of such documentation
(other than such documentation set forth in Section 2.20(g)(ii)(A), 2.20(g)(ii)(B) and 2.20(g)(ii)(D)) shall not be required if
in the Lender’s reasonable judgment such completion, execution or submission would subject such Lender to any material unreimbursed
cost or expense or would materially prejudice the legal or commercial position of such Lender.

 

 

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		(ii)	Without limiting the generality of the foregoing:

 

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

 

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

 

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

 

		(ii)	executed originals of IRS Form W-8ECI;

 

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

 

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

 

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

 

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

  

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

 

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(h)
Treatment of Certain Refunds. If any party determines, in its sole discretion exercised in good faith, that it has received
a refund of any Taxes as to which it has been indemnified pursuant to this Section 2.20 (including by the payment of additional
amounts pursuant to this Section 2.20), it shall pay to the indemnifying party an amount equal to such refund (but only to the
extent of indemnity payments or the payments of such additional amounts made under this Section 2.20 with respect to the Taxes
giving rise to such refund), net of all out-of-pocket expenses (including Taxes) of such indemnified party and without interest
(other than any interest paid by the relevant Governmental Authority with respect to such refund). Such indemnifying party, upon
the request of such indemnified party, shall repay to such indemnified party the amount paid over pursuant to this paragraph (h)
(plus any penalties, interest or other charges imposed by the relevant Governmental Authority) if such indemnified party is required
to repay such refund to such Governmental Authority. Notwithstanding anything to the contrary in this paragraph (h), in no event
will the indemnified party be required to pay any amount to an indemnifying party pursuant to this paragraph (h) the payment of
which would place the indemnified party in a less favorable net after-Tax position than the indemnified party would have been
in if the Tax subject to indemnification and giving rise to such refund had not been deducted, withheld or otherwise imposed and
the indemnification payments or additional amounts with respect to such Tax had never been paid. This paragraph shall not be construed
to require any indemnified party to make available its Tax returns (or any other information relating to its Taxes that it deems
confidential) to the indemnifying party or any other Person.

 

(i)
Survival. Each party’s obligations under this Section 2.20 shall survive the resignation or replacement of the Administrative
Agent or any assignment of rights by, or the replacement of, a Lender, the termination of the Commitments and the repayment, satisfaction
or discharge of all obligations under any Credit Document.

 

2.21
Obligation to Mitigate. If any Lender requests compensation under Section 2.19, or requires the Borrowers to pay additional
amounts to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 2.20, then such Lender shall
(at the request of the Borrower Representative) use reasonable efforts to designate a different lending office for funding or
booking its Loans hereunder or to assign its rights and obligations hereunder to another of its offices, branches or Affiliates,
if, in the reasonable good faith judgment of such Lender, such designation or assignment (a) would eliminate or reduce amounts
payable pursuant to Section 2.19 or 2.20, as the case may be, in the future, and (b) would not subject such Lender to any unreimbursed
cost or expense and would not otherwise be disadvantageous to such Lender. The Borrowers hereby agree to pay all reasonable costs
and expenses incurred by any Lender in connection with any such designation or assignment.

 

2.22
Defaulting Lenders.

 

(a)
Defaulting Lender Adjustments. Notwithstanding anything to the contrary contained in this Agreement, if any Lender becomes
a Defaulting Lender, then, until such time as such Lender is no longer a Defaulting Lender, to the extent permitted by applicable
law:

 

		(i)	Waivers and Amendments. Such Defaulting Lender’s right to approve or disapprove any
amendment, waiver or consent with respect to this Agreement shall be restricted as set forth in the definition of Required Lenders.

  

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		(ii)	Defaulting Lender Waterfall. Any payment of principal, interest, fees or other amounts received
by the Administrative Agent for the account of such Defaulting Lender (whether voluntary or mandatory, at maturity, pursuant to
Section 8 or otherwise) or received by the Administrative Agent from a Defaulting Lender pursuant to Section 10.4 shall be applied
at such time or times as may be determined by the Administrative Agent (and, so long as no Event of Default exists, in consultation
with the Borrower Representative) as follows: first, to the payment of any amounts owing by such Defaulting Lender to the
Administrative Agent hereunder; second, to the payment on a pro rata basis of any amounts owing by such Defaulting Lender
to an Issuing Bank or Swing Line Lender hereunder; third, to Cash Collateralize an Issuing Bank’s Fronting Exposure
with respect to such Defaulting Lender in accordance with Section 2.4(i); fourth, as the Borrower Representative may request
(so long as no Event of Default exists), to the funding of any Loan in respect of which such Defaulting Lender has failed to fund
its portion thereof as required by this Agreement, as determined by the Administrative Agent; fifth, if so determined by
the Administrative Agent and the Borrower Representative, to be held in a deposit account and released pro rata in order to (x)
satisfy such Defaulting Lender’s potential future funding obligations with respect to Loans under this Agreement and (y)
Cash Collateralize an Issuing Bank’s future Fronting Exposure with respect to such Defaulting Lender with respect to future
Letters of Credit issued under this Agreement, in accordance with Section 2.4(i); sixth, to the payment of any amounts owing
to the Lenders, an Issuing Bank or Swing Line Lender as a result of any judgment of a court of competent jurisdiction obtained
by any Lender, any Issuing Bank or Swing Line Lender against such Defaulting Lender as a result of such Defaulting Lender’s
breach of its obligations under this Agreement; seventh, to the payment of any amounts owing to the Borrowers as a result
of any judgment of a court of competent jurisdiction obtained by the Borrowers against such Defaulting Lender as a result of such
Defaulting Lender’s breach of its obligations under this Agreement; and eighth, to such Defaulting Lender or as otherwise
directed by a court of competent jurisdiction; provided, if (x) such payment is a payment of the principal amount of any
Loans or Letters of Credit in respect of which such Defaulting Lender has not fully funded its appropriate share, and (y) such
Loans were made or the related Letters of Credit were issued at a time when the conditions set forth in Section 3.2 were satisfied
or waived, such payment shall be applied solely to pay the Loans of, and Letter of Credit Obligations owed to, all Non-Defaulting
Lenders on a pro rata basis prior to being applied to the payment of any Loans of, or Letter of Credit Obligations owed to, such
Defaulting Lender until such time as all Loans and funded and unfunded participations in Letter of Credit Obligations and Swing
Line Loans are held by the Lenders in accordance with their Pro Rata Shares of the Revolving Credit Commitments without giving
effect to Section 2.22(a)(iv). Any payments, prepayments or other amounts paid or payable to a Defaulting Lender that are applied
(or held) to pay amounts owed by a Defaulting Lender or to post Cash Collateral pursuant to this Section 2.22(a)(ii) shall be deemed
paid to and redirected by such Defaulting Lender, and each Lender irrevocably consents hereto.

 

		(iii)	Certain Fees.

 

		(A)	No Defaulting Lender shall be entitled to receive any commitment fees in accordance with Section
2.11(a) for any period during which such Lender is a Defaulting Lender (and the Borrowers shall not be required to pay any such
fee that otherwise would have been required to have been paid to that Defaulting Lender).

 

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		(B)	Each Defaulting Lender shall be entitled to receive Letter of Credit fees with Section 2.11(b)
for any period during which such Lender is a Defaulting Lender only to the extent allocable to its Pro Rata Share of the stated
amount of Letters of Credit for which it has provided Cash Collateral pursuant to Section 2.4(i).

 

		(C)	With respect to any fees not required to be paid to any Defaulting Lender pursuant to clause (A)
or (B) above, the Borrowers shall (x) pay to each Non-Defaulting Lender that portion of any such fee otherwise payable to such
Defaulting Lender with respect to such Defaulting Lender’s participation in Letter of Credit Obligations or Swing Line Loans
that has been reallocated to such Non-Defaulting Lender pursuant to clause (iv) below, (y) pay to the Issuing Bank and the Swing
Line Lender, as applicable, the amount of any such fee otherwise payable to such Defaulting Lender to the extent allocable to the
Issuing Bank’s or Swing Line Lender’s Fronting Exposure to such Defaulting Lender, and (z) not be required to pay the
remaining amount of any such fee.

 

		(iv)	Reallocation of Participations to Reduce Fronting Exposure. All or any part of such Defaulting
Lender’s participation in Letter of Credit Obligations and Swing Line Loans shall be reallocated among the Non-Defaulting
Lenders in accordance with their respective Pro Rata Shares (calculated without regard to such Defaulting Lender’s Commitment)
but only to the extent that (x) the conditions set forth in Section 3.2 are satisfied at the time of such reallocation provided
that notwithstanding anything to the contrary herein, the Borrowers shall not be deemed to have represented and warranted that
such conditions are satisfied at such time, and (y) such reallocation does not cause the aggregate Revolving Credit Exposure of
any Non-Defaulting Lender to exceed such Non-Defaulting Lender’s Revolving Credit Commitment. No reallocation hereunder shall
constitute a waiver or release of any claim of any party hereunder against a Defaulting Lender arising from such Lender having
become a Defaulting Lender, including any claim of a Non-Defaulting Lender as a result of such Non-Defaulting Lender’s increased
exposure following such reallocation.

 

		(v)	Repayment of Swing Line Loans, Cash Collateral. If the reallocation described in clause
(iv) above cannot, or can only partially, be effected, the Borrowers shall, without prejudice to any right or remedy available
to it hereunder or under law, first, prepay Swing Line Loans in an amount equal to the Swing Line Lender’s Fronting
Exposure and second, Cash Collateralize an Issuing Bank’s Fronting Exposure in accordance with the procedures set
forth in Section 2.4(i).

  

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(b)
Defaulting Lender Cure. If the Borrower Representative, the Administrative Agent and the Swing Line Lender and the Issuing
Banks agree in writing that a Lender is no longer a Defaulting Lender, the Administrative Agent will so notify the parties hereto,
whereupon as of the effective date specified in such notice and subject to any conditions set forth therein (which may include
arrangements with respect to any Cash Collateral), such Lender will, to the extent applicable, purchase at par that portion of
outstanding Loans of the other Lenders or take such other actions as the Administrative Agent determines to be necessary or appropriate
to cause the Loans and funded and unfunded participations in Letters of Credit and Swing Line Loans to be held by the Lenders
in accordance with their Pro Rata Shares of the Revolving Credit Commitments without giving effect to Section 2.22(a)(iv), whereupon
such Lender will cease to be a Defaulting Lender; provided, no adjustments will be made retroactively with respect to fees
accrued or payments made by or on behalf of the Borrowers while such Lender was a Defaulting Lender; and provided further,
except to the extent otherwise expressly agreed by the affected parties, no change hereunder from Defaulting Lender to Lender
will constitute a waiver or release of any claim of any party hereunder arising from such Lender having been a Defaulting Lender.

 

(c)
New Swing Line Loans/Letters of Credit. So long as any Lender is a Defaulting Lender, (i) the Swing Line Lender shall not
be required to fund any Swing Line Loans unless it is reasonably satisfied that it will have no Fronting Exposure immediately
after giving effect to such Swing Line Loan and (ii) no Issuing Bank shall be required to issue, extend, renew or increase any
Letter of Credit unless it is reasonably satisfied that it will have no Fronting Exposure immediately after giving effect thereto.

 

(d)
Termination of Defaulting Lender. The Borrowers may terminate (notwithstanding anything to the contrary herein, on a non
pro rata basis) the unused amount of the Revolving Credit Commitment of any Revolving Lender that is a Defaulting Lender upon
not less than five (5) Business Days’ prior notice to the Administrative Agent (which shall promptly notify the Lenders
thereof), and in such event the provisions of Section 2.22(a)(ii) will apply to all amounts thereafter paid by the Borrowers for
the account of such Defaulting Lender under this Agreement (whether on account of principal, interest, fees, indemnity or other
amounts); provided, (i) no Event of Default shall have occurred and be continuing, and (ii) such termination shall not
be deemed to be a waiver or release of any claim the Borrowers, the Administrative Agent, any Issuing Bank, the Swing Line Lender
or any Lender may have against such Defaulting Lender.

 

2.23
Replacement of Lenders. If any Lender requests compensation under Section 2.19, or if the Borrowers are required to
pay additional amounts to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 2.20 and,
in each case, such Lender has declined or is unable to designate a different lending office in accordance with Section 2.21, or
if any Lender is a Defaulting Lender, a Non-Consenting Lender or an Affected Lender (when Required Lenders are not Affected Lenders),
then the Borrower Representative may, at its sole expense and effort, upon notice to such Lender and the Administrative Agent
(which shall be given within thirty days after such Lender requests such amount or becomes a Defaulting, Non-Consenting Lender
or Affected Lender, as the case may be), require such Lender to assign and delegate, without recourse (in accordance with and
subject to the restrictions contained in, and consents required by, Section 10.6), all of its interests, rights and obligations
under this Agreement and the related Credit Documents to an Eligible Assignee that shall assume such obligations (which assignee
may be another Lender, if a Lender accepts such assignment); provided:

 

(a)
the Administrative Agent shall have received the assignment fee (if any) specified in Section 10.6(b)(iv);

 

(b)
such Lender shall have received payment of an amount equal to the outstanding principal of its Loans and participations in Letters
of Credit, accrued and unpaid interest thereon, accrued and unpaid fees and all other amounts payable to it hereunder and under
the other Credit Documents (including any amounts under Section 2.18(c) from the assignee (to the extent of such outstanding principal
and accrued and unpaid interest and fees) or the Borrowers (in the case of all other amounts));

 

(c)
in the case of any such assignment resulting from a claim for compensation under Section 2.19 or payments required to be made
pursuant to Section 2.20, such assignment will result in a reduction in such compensation or payments thereafter;

 

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(d)
such assignment does not conflict with applicable Law; and

 

(e)
in the case of any assignment resulting from a Lender becoming a Non-Consenting Lender or Affected Lender, the applicable assignee
shall, in the former case, have consented to the applicable amendment, waiver or consent and in the latter case not then be an
Affected Lender.

 

Notwithstanding anything to the contrary
contained herein:

 

		(i)	no Lender shall be required to make any such assignment or delegation if, prior thereto, as a result
of a waiver by such Lender or otherwise, the circumstances entitling the Borrowers to require such assignment and delegation cease
to apply;

 

		(ii)	any Lender being replaced pursuant to Section 2.23 above shall execute and deliver an Assignment
and Assumption with respect to such Lender’s Commitment and outstanding Loans and participations in Letters of Credit, as
applicable; provided, the failure of any such Lender to execute an Assignment and Assumption after having received a request
therefor shall not render such assignment invalid and such assignment shall be recorded in the Register and such Lender shall be
deemed to have consented thereto;

 

		(iii)	no Lender that acts as Issuing Bank may be replaced hereunder (other than with respect to any Term
Loans) at any time that it has any Letter of Credit outstanding hereunder unless arrangements reasonably satisfactory thereto (including
the furnishing of a back-up standby letter of credit in form and substance, and issued by an issuer, reasonably satisfactory thereto
or Cash Collateral) have been made in respect of such outstanding Letters of Credit; and

 

		(iv)	no Lender that acts as Administrative Agent may be replaced hereunder except in accordance with
the terms of Section 9.6.

 

2.24
Extension of Loans.

 

(a)
The Borrower Representative may, by written notice to the Administrative Agent from time to time, request an extension (each,
an “Extension”) of the maturity date of any Class of Loans and Commitments to the extended maturity date specified
in such notice. Such notice shall (i) set forth the amount of the applicable Class of Revolving Credit Commitments and/or Term
Loans that will be subject to the Extension (which shall be in minimum increments of $1,000,000 and a minimum amount of $10,000,000),
(ii) set forth the date on which such Extension is requested to become effective (which shall be not less than ten (10) Business
Days nor more than sixty days after the date of such Extension notice (or such longer or shorter periods as the Administrative
Agent shall agree in its sole discretion)) and (iii) identify the relevant Class of Revolving Credit Commitments and/or Term Loans
to which such Extension relates. Each Lender of the applicable Class shall be offered (an “Extension Offer”)
an opportunity to participate in such Extension on a pro rata basis and on the same terms and conditions as each other Lender
of such Class pursuant to procedures established by, or reasonably acceptable to, the Administrative Agent and the Borrower Representative.
If the aggregate principal amount of Revolving Credit Commitments or Term Loans in respect of which Lenders shall have accepted
the relevant Extension Offer shall exceed the maximum aggregate principal amount of Revolving Credit Commitments or Term Loans,
as applicable, subject to the Extension Offer as set forth in the Extension notice, then the Revolving Credit Commitments or Term
Loans, as applicable, of Lenders of the applicable Class shall be extended ratably up to such maximum amount based on the respective
principal amounts with respect to which such Lenders have accepted such Extension Offer.

 

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(b)
The following shall be the only conditions precedent to the effectiveness of any Extension:

 

		(i)	no Event of Default shall have occurred and be continuing immediately prior to and immediately
after giving effect to such Extension,

 

		(ii)	the representations and warranties set forth in Section 4 and in each other Credit Document shall
be deemed to be made and shall be true and correct in all material respects (except for those representations and warranties that
are conditioned by materiality, which shall be true and correct in all respects) on and as of the effective date of such Extension
to the same extent as though made on and as of that date, except to the extent such representations and warranties specifically
relate to an earlier date, in which case such representations and warranties shall have been true and correct in all material respects
(except for those representations and warranties that are conditioned by materiality, which shall have been true and correct in
all respects) on and as of such earlier date,

 

		(iii)	the Issuing Banks and the Swing Line Lender shall have consented to any Extension of the Revolving
Credit Commitments, to the extent that such Extension provides for the issuance or extension of Letters of Credit or making of
Swing Line Loans at any time during the extended period, and

 

		(iv)	the terms of such Extended Revolving Credit Commitments and Extended Term Loans shall comply with
Section 2.24(c).

  

(c)
The terms of each Extension shall be determined by the Borrower Representative and the applicable extending Lenders and set forth
in an Extension Amendment; provided:

 

		(i)	the final maturity date of any Extended Revolving Credit Commitment or Extended Term Loan shall
be determined by the Borrower Representative and the applicable extending Lenders but no earlier than the Scheduled Revolving Credit
Commitment Termination Date of the existing Revolving Loans or the Maturity Date of the existing Term Loans, respectively;

 

		(ii)	(A) there shall be no scheduled amortization of the loans or reductions of commitments under any
Extended Revolving Credit Commitments and (B) the Weighted Average Life to Maturity of the Extended Term Loans shall be no shorter
than the then remaining Weighted Average Life to Maturity of the existing Term Loans with the latest Maturity Date then in effect;

 

		(iii)	the Extended Revolving Loans and the Extended Term Loans will rank pari passu in right of payment
and with respect to security with the existing Revolving Loans and the existing Term Loans and the borrower and guarantors of the
Extended Revolving Credit Commitments or Extended Term Loans, as applicable, shall be the same as the Borrowers and Guarantors
with respect to the existing Revolving Loans or Term Loans, as applicable;

  

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		(iv)	the interest rates, interest rate margin, rate floors, fees, original issue discount and premium
applicable to any Extended Revolving Credit Commitment (and the Extended Revolving Loans thereunder) and Extended Term Loans shall
be determined by the Borrower Representative and the applicable extending Lenders;

 

		(v)	(A) the Extended Term Loans may participate on a pro rata or less than pro rata (but not greater
than pro rata) basis in voluntary or mandatory prepayments with the other Term Loans and (B) borrowing and prepayment of Extended
Revolving Loans, or reductions of Extended Revolving Credit Commitments, and participation in Letters of Credit and Swing Line
Loans, shall be on a pro rata basis with the other Revolving Loans or Revolving Credit Commitments (other than upon the maturity
of the non-extended Revolving Loans and Revolving Credit Commitments); and

 

		(vi)	the terms of the Extended Revolving Credit Commitments or Extended Term Loans, as applicable, shall
be substantially similar, or (taken as a whole) not materially more favorable (as reasonably determined by the Borrower Representative),
to the Credit Parties than the terms set forth in this Agreement (except with respect to terms described or referenced in any of
clauses (i) through (v) above and except for covenants or other provisions applicable only to periods after the latest final Maturity
Date of the relevant Revolving Credit Commitments or Term Loans, as applicable).

  

(d)
In connection with any Extension, the Borrowers, the Administrative Agent and each applicable extending Lender shall execute and
deliver to the Administrative Agent an Extension Amendment and such other documentation as the Administrative Agent shall reasonably
specify to evidence the Extension. The Administrative Agent shall promptly notify each Lender as to the effectiveness of each
Extension. Any Extension Amendment may, without the consent of any other Lender, effect such amendments to this Agreement and
the other Credit Documents as may be necessary or appropriate, in the reasonable opinion of the Administrative Agent and the Borrower
Representative, to implement the terms of any such Extension, including any amendments necessary to establish Extended Revolving
Credit Commitments or Extended Term Loans as a new Class or tranche of Revolving Credit Commitments or Term Loans, as applicable,
and such other technical amendments as may be necessary or appropriate in the reasonable opinion of the Administrative Agent and
the Borrower Representative in connection with the establishment of such new Class or tranche (including to preserve the pro rata
treatment of the extended and non-extended Classes or tranches and to provide for the reallocation of Revolving Credit Exposure
upon the expiration or termination of the commitments under any Class or tranche), in each case on terms consistent with this
Section 2.24.

 

(e)
Preemption. This Section 2.24 shall preempt and supersede any provision in Section 2.15, 2.17 or 10.5 to the contrary.

 

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2.25
Incremental Facilities.

 

(a)
Types. The Borrowers may by written notice from the Borrower Representative to the Administrative Agent (each, an “Incremental
Facility Notice”) elect to request (i) an increase to the Revolving Credit Commitments prior to the Revolving Credit
Commitment Termination Date (each, an “Incremental Revolving Credit Commitment”) and/or (ii) the establishment
of one or more new term loan commitments (each, an “Incremental Term Loan Commitment”; and together with the
Incremental Revolving Credit Commitments, individually, an “Incremental Facility”, and collectively, the “Incremental
Facilities”); provided, the aggregate amount of all Incremental Facilities together with all Incremental Equivalent
Debt shall not exceed the Incremental Facility Amount.

 

(b)
Incremental Facility Amount. As used herein, “Incremental Facility Amount” means an amount equal to:

 

		(i)	the greater of (x) $50,000,000 and (y) an amount equal to 65% of Consolidated Adjusted EBITDA for
the then most recently ended Test Period, plus

 

		(ii)	the aggregate amount of any voluntary repayments and prepayments of the Revolving Loans, Term Loans
and Incremental Equivalent Debt secured by the Collateral on a pari passu basis with the Initial Term Loans (provided, with
respect to any prepayment at a discount to par of such Term Loans or Incremental Equivalent Debt with credit only given for the
actual amount of cash payment), but excluding (A) repayments of Revolving Loans or Swing Line Loans except to the extent the Revolving
Credit Commitments are permanently reduced in connection with such repayments, so long as, in the case of any such optional prepayment,
such prepayment was not funded with the proceeds of any long-term Indebtedness and (B) any repayments of the Loans made with the
proceeds of any Permitted Cure Securities issued in connection with the Cure Right; plus

 

		(iii)	an unlimited amount; provided, solely with respect to any amount incurred in reliance on
this clause (iii), on a Pro Forma Basis immediately after giving effect to the incurrence thereof (and after giving pro forma effect
to any acquisition or other Investment consummated in connection therewith), (A) with respect to any Incremental Facility, the
Consolidated First Lien Net Leverage Ratio as of the last day of the most recently ended Test Period shall not exceed the Closing
Date Consolidated First Lien Net Leverage Ratio; and (B) with respect to any Incremental Equivalent Debt, (x) if such Incremental
Equivalent Debt is secured by Liens on the Collateral on a pari passu basis with the Obligations, the Consolidated First Lien Net
Leverage Ratio as of the last day of the most recently ended Test Period shall not exceed the Closing Date Consolidated First Lien
Net Leverage Ratio, (y) if such Incremental Equivalent Debt ranks junior in right of security with the Obligations, the Consolidated
Secured Net Leverage Ratio as of the last day of the most recently ended Test Period shall not exceed 4.40:1.00 and (z) if such
Incremental Equivalent Debt is unsecured, the Consolidated Total Net Leverage Ratio as of the last day of the most recently ended
Test Period shall not exceed 4.65:1.00.

 

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Unless
the Borrower Representative has selected utilization under clauses (i), (ii) or (iii) above, the Borrowers shall be deemed to
have used amounts under clause (iii) (to the extent compliant therewith) prior to utilization of amounts under clauses (i) and/or
(ii), and Incremental Facilities and Incremental Equivalent Debt may be incurred or established, as the case may be, simultaneously
under clauses (i), (ii) and (iii), and proceeds from any such incurrence may be utilized in a single transaction by first calculating
the incurrence under clause (iii) above and then calculating the incurrence under clauses (i) and/or (ii) above.

 

(c)
Incremental Facility Notice. Each Incremental Facility Notice shall specify (i) the amount of the Incremental Facilities
being requested (which shall be in a minimum amount of $5,000,000 or, if less, an amount equal to the remaining Incremental Facility
Amount), (ii) the date (each, an “Incremental Facility Effective Date”) on which the Borrower Representative
proposes that an Incremental Facility shall be effective, which shall be a date not less than ten (10) Business Days after the
date on which such notice is delivered to the Administrative Agent (or such earlier date as is acceptable to the Administrative
Agent) and (iii) the identity of each Lender, other Eligible Assignee or any other Person (each, an “Incremental Revolving
Lender” or an “Incremental Term Loan Lender”, as applicable) to whom the Borrower Representative
proposes any portion of such Incremental Facility be allocated and the amounts of such allocations; provided, (A) each
existing Lender, if any, from which the Borrower Representative requests such Incremental Facility may elect or decline, in its
sole discretion, to provide such Incremental Facility, and (B) (x) such Eligible Assignee or other Person identified by the Borrower
Representative as a proposed Incremental Revolving Lender, if not already a Lender, an Affiliate of a Lender or an Approved Fund,
shall be acceptable to each of the Administrative Agent, the Issuing Bank and the Swing Line Lender in its reasonable discretion
and (y) such Eligible Assignee or other Person identified by the Borrowers as a proposed Incremental Term Loan Lender, if not
already a Lender, an Affiliate of a Lender or an Approved Fund, shall be reasonably acceptable to the Administrative Agent.

 

(d)
Conditions to Effectiveness. Each Incremental Facility shall become effective as of the applicable Incremental Facility
Effective Date; provided

 

		(i)	(a) if the proceeds of such Incremental Facility shall be applied to consummate a Limited Condition
Acquisition, (1) no Event of Default shall exist at the time of the request thereof and (2) on such Incremental Facility Effective
Date both immediately before and immediately after giving effect to such Incremental Facility and the borrowings thereunder, no
Event of Default under Section 8.1(a), 8.1(f) or 8.1(g) shall have occurred and be continuing or would result therefrom, and (b)
in any other case, no Event of Default shall exist on such Incremental Facility Effective Date immediately before or immediately
after giving effect to such Incremental Facility and the borrowings thereunder; and

 

		(ii)	both immediately before and immediately after giving effect to such Incremental Facility and the
borrowings thereunder, as of such Incremental Facility Effective Date, the representations and warranties contained herein and
in the other Credit Documents shall be true and correct in all material respects (except for those representations and warranties
that are conditioned by materiality, which shall be true and correct in all respects) on and as of that Credit Date to the same
extent as though made on and as of that date, except to the extent such representations and warranties specifically relate to an
earlier date, in which case such representations and warranties shall have been true and correct in all material respects (except
for those representations and warranties that are conditioned by materiality, which shall have been true and correct in all respects)
on and as of such earlier date; provided, to the extent that the proceeds of Loans under any Incremental Facility are to
be used to finance a Limited Condition Acquisition, the availability thereof shall instead be subject only to customary “SunGard”
or “certain funds” conditionality to the extent agreed by the Borrower Representative and the Lenders providing such
loans.

  

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(e)
Incremental Revolving Credit Commitments. On any Incremental Facility Effective Date on which any Incremental Revolving
Credit Commitment is effected, subject to the satisfaction of the foregoing terms and conditions of this Section 2.25, (i) each
of the Revolving Lenders shall assign to each of the applicable Incremental Revolving Lenders, and each of such Incremental Revolving
Lenders shall purchase from each of the Revolving Lenders, at the principal amount thereof (together with accrued interest), such
interests in the Revolving Loans outstanding on such Incremental Facility Effective Date as shall be necessary in order that,
upon giving effect to all such assignments and purchases, the Revolving Loans will be held by existing Revolving Lenders and Incremental
Revolving Lenders ratably in accordance with their Revolving Loan Commitments after giving effect to the addition of such Incremental
Revolving Credit Commitments to the Revolving Loan Commitments, (ii) each Incremental Revolving Credit Commitment shall be deemed
for all purposes a Revolving Loan Commitment of the Class of Revolving Commitments increased and each Loan made thereunder (an
“Incremental Revolving Loan”) shall be deemed, for all purposes, a Revolving Loan, (iii) each Incremental Revolving
Lender shall become a Lender with respect to the Revolving Credit Commitments and all matters relating thereto, and (iv) each
Incremental Revolving Credit Commitment shall be effected pursuant to one or more Joinder Agreements, each of which Administrative
Agent shall record in the Register. The Administrative Agent and the Lenders hereby agree that the minimum borrowing, pro rata
borrowing and pro rata payment requirements contained elsewhere in this Agreement shall not apply to transactions effected pursuant
to the immediately preceding sentence.

 

(f)
Incremental Term Loans. On any Incremental Facility Effective Date on which any Incremental Term Loan Commitments are effective,
subject to the satisfaction of the foregoing terms and conditions, (i) each Incremental Term Loan Lender shall make a Loan to
the Borrowers (an “Incremental Term Loan”) in an amount equal to its Incremental Term Loan Commitment, (ii)
each Incremental Term Loan Lender shall become a Lender hereunder with respect to the Incremental Term Loan Commitment and the
Incremental Term Loans made pursuant thereto, and (iii) the applicable Incremental Term Loan Commitments shall be effected pursuant
to one or more Joinder Agreements, each of which Administrative Agent shall record in the Register.

 

(g)
Notice to Lenders. The Administrative Agent shall notify the Lenders, promptly upon receipt of the Borrower Representative’s
notice of an Incremental Facility Effective Date, of (i) the Incremental Revolving Credit Commitments and the Incremental Term
Loan Commitments, in each case, as applicable, and (ii) in the case of each notice to any Revolving Lender, the respective interests
in such Revolving Lender’s Revolving Loans, in each case subject to the assignments contemplated by this Section 2.25.

 

(h)
Terms - Incremental Term Loans. The terms of Incremental Term Loans shall be identical to the Initial Term Loans; provided,
to the extent mutually agreed by the Borrowers and the applicable Incremental Term Loan Lenders, Incremental Term Loans may have
terms that are different from the terms of the Initial Term Loans (such Incremental Term Loans, “Other Term Loans”),
subject to the following:

 

		(i)	all Incremental Term Loans shall rank pari passu in right of payment, and rank pari passu in right
of security, with the Obligations;

  

    	 	92	 

     

    

 

		(ii)	as of the date of the incurrence thereof, (A) the maturity date applicable to any Incremental Term
Loans shall not be earlier than the then-final scheduled maturity date of the Term Loans with the latest Maturity Date then in
effect, and (B) the Weighted Average Life to Maturity of any Incremental Term Loans shall not be shorter than the then applicable
Weighted Average Life to Maturity of the Term Loans with the latest Maturity Date then in effect;

 

		(iii)	no Incremental Term Loan shall be (A) secured by property other than Collateral or (B) be incurred
or guaranteed by any Person other than a Credit Party;

 

		(iv)	as of the date of the incurrence thereof, if the All-In-Yield relating to any Incremental Term
Loans exceeds the All-In-Yield relating to the Initial Term Loans by more than 0.50%, the All-In-Yield relating to the Initial
Term Loans shall be adjusted to be equal to the All-In-Yield relating to such Incremental Term Loans minus 0.50% (this clause
(iv), the “MFN Protection”);

 

		(v)	no Incremental Term Loans may be voluntarily or mandatorily prepaid prior to repayment in full
of the Obligations (other than Remaining Obligations), unless accompanied by at least a ratable payment of the other then existing
Obligations;

 

		(vi)	except as otherwise expressly set forth herein, the other terms of such Incremental Term Loans
(excluding interest, fees and premiums, optional prepayment and redemption terms) shall be, when taken as a whole, not materially
more favorable (as reasonably determined by the Borrower Representative) to the lenders or holders providing such Incremental Term
Loans than those applicable to the Term Loans having the latest Maturity Date existing at the time of such incurrence, except to
the extent (A) such terms are added to the Credit Documents for the benefit of the Lenders pursuant to an amendment hereto or thereto
subject solely to the reasonable satisfaction of the Administrative Agent (including any increase in the Applicable Margin relating
to any existing Term Loans to achieve fungibility with such Term Loans), (B) applicable solely to periods after the latest Maturity
Date existing at the time of such incurrence or (C) otherwise reasonably acceptable to the Administrative Agent.

  

(i)
Terms - Incremental Revolving Loans. The terms of the Incremental Revolving Loans shall be identical to the Revolving Loans.

 

(j)
Related Amendments. Each of the parties hereto hereby agrees that upon the effectiveness of any Joinder Agreement, this
Agreement shall be deemed amended to the extent (but only to the extent) necessary or appropriate to reflect the existence and
terms of the applicable Incremental Term Loan Commitment and the Incremental Term Loans evidenced thereby or the applicable Incremental
Revolving Credit Commitment and additional Revolving Loans evidenced thereby, as applicable, and the Administrative Agent and
the Borrowers may revise this Agreement and the other Credit Documents to evidence such amendments without the consent of the
other Lenders as may be necessary or appropriate, in the reasonable opinion of Administrative Agent and the Borrower Representative,
to effectuate the provisions of this Section 2.25, and this Section 2.25 shall preempt and supersede any provision in Section
2.15, 2.17 or 10.5 to the contrary.

 

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(k)
Installments. Except to the extent any Incremental Term Loans are Other Term Loans, the installments under Section 2.12(a)
required to be made after the making of such Incremental Term Loans shall be ratably increased by the aggregate principal amount
of such Incremental Term Loans and shall be further increased for all Lenders on a pro rata basis to the extent necessary to avoid
any reduction in the amortization payments to which the Term Loan Lenders were entitled before such recalculation.

 

(l)
Incremental Equivalent Debt. The Borrowers may issue or incur Incremental Equivalent Debt in lieu of Incremental Term Loans
upon the delivery to the Administrative Agent of (revocable) notice thereof not less than ten (10) days, and not more than sixty
days, prior to the proposed effective date thereof; provided, the aggregate principal amount of all Incremental Facilities
together with all Incremental Equivalent Debt shall not exceed the Incremental Facility Amount. As used herein, “Incremental
Equivalent Debt” means Indebtedness consisting of one or more series of senior secured first lien notes, junior lien
notes, pari passu term loans, junior lien loans, subordinated notes or senior unsecured notes or unsecured loans, in each case,
issued in a public offering, Rule 144A or other private placement transactions, a bridge facility in lieu of the foregoing, or
secured or unsecured mezzanine Indebtedness or debt securities; provided:

 

		(i)	each of the conditions set forth in Section 2.25(d) shall be satisfied (or waived in accordance
with the terms hereof) with respect to the incurrence of such Indebtedness (subject to “SunGard” or “certain
funds” conditionality if in respect of a Limited Condition Acquisition);

 

		(ii)	if secured, such Indebtedness shall not be secured by property other than Collateral, and a representative
acting on behalf of the lenders or investors providing such Indebtedness shall have entered into an Intercreditor Agreement reasonably
satisfactory to the Administrative Agent; provided, if secured on a pari passu basis with the Obligations, (x) such Indebtedness
shall be subject to the MFN Protection and (y) the lenders or investors providing such Indebtedness (or a representative acting
on their behalf) shall have entered into an Intercreditor Agreement reasonably satisfactory to the Administrative Agent;

 

		(iii)	such Indebtedness shall not at any time be incurred or guaranteed by any Person other than a Credit
Party,

 

		(iv)	such Indebtedness (A) shall have a final scheduled maturity date no earlier than the then-final
scheduled maturity date of the Term Loans with the latest Maturity Date then in effect and (B) shall have a Weighted Average Life
to Maturity that is equal to or greater than the then applicable Weighted Average Life to Maturity of the Term Loans with the latest
Maturity Date then in effect; provided, if such Indebtedness is contractually junior in right of Collateral or payment to
the Obligations, it will not mature (and no scheduled payment, redemption or sinking fund or similar payments or obligations will
be permitted) prior to 91 days after the latest Maturity Date existing at the time of such incurrence;

  

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		(v)	such Indebtedness may not be voluntarily or mandatorily prepaid prior to repayment in full of the
Obligations (other than the Remaining Obligations), unless accompanied by at least a ratable payment of the then existing Obligations
(or, if contractually junior in right of payment or as to security, on a junior basis with respect to the then existing Obligations);
and

 

		(vi)	except as otherwise expressly set forth herein, the other terms of such Incremental Equivalent
Debt (excluding interest, fees and premiums, optional prepayment and redemption terms thereof) shall be, when taken as a whole,
not materially more favorable (as reasonably determined by the Borrower Representative) to the lenders or holders providing such
Incremental Equivalent Debt than those applicable to the Term Loans having the latest Maturity Date existing at the time of such
incurrence, except to the extent (A) such terms are added to the Credit Documents for the benefit of the Lenders pursuant to an
amendment hereto or thereto subject solely to the reasonable satisfaction of the Administrative Agent, (B) applicable solely to
periods after the latest Maturity Date existing at the time of such incurrence or (C) otherwise reasonably acceptable to the Administrative
Agent.

  

2.26
Permitted Refinancing Amendment.

 

(a)
Permitted Refinancing Amendment. At any time after the Closing Date, the Borrowers may obtain, from any Lender or any Permitted
Refinancing Lender, Permitted Credit Agreement Refinancing Indebtedness in respect of all or any portion of the Loans or Commitments
then outstanding under this Agreement, in the form of Permitted Refinancing Loans or Permitted Refinancing Commitments, in each
case pursuant to a Permitted Refinancing Amendment; provided, notwithstanding anything to the contrary in this Section
2.26 or otherwise, (i) the borrowing and repayment (except for (A) payments of interest and fees at different rates on Permitted
Refinancing Revolving Credit Commitments (and related outstandings), (B) repayments required upon the maturity date of the Permitted
Refinancing Revolving Credit Commitments and (C) repayment made in connection with a permanent repayment and termination of commitments
(subject to clause (iii) below)) of Loans with respect to Permitted Refinancing Revolving Credit Commitments after the date of
obtaining any Permitted Refinancing Revolving Credit Commitments shall be made on a pro rata basis with all Permitted Refinancing
Revolving Credit Commitments, (ii) subject to the provisions of Sections 2.3(k) and 2.4(k), all Swing Line Loans and Letters of
Credit shall be participated on a pro rata basis by all Lenders with Commitments in accordance with their percentage of the Revolving
Credit Commitments (and except as provided in Sections 2.3(k) and 2.4(k), without giving effect to changes thereto on an earlier
maturity date with respect to Swing Line Loans and Letters of Credit theretofore incurred or issued), (iii) the permanent repayment
of Revolving Loans with respect to, and termination of, Permitted Refinancing Revolving Credit Commitments after the date of obtaining
any Permitted Refinancing Revolving Credit Commitments shall be made on a pro rata basis with all Permitted Refinancing Revolving
Credit Commitments, except that the Borrowers shall be permitted to permanently repay and terminate commitments of any such Class
on a better than a pro rata basis as compared to any other Class with a later maturity date than such Class, (iv) assignments
and participations of Permitted Refinancing Revolving Credit Commitments and Permitted Refinancing Revolving Loans shall be governed
by the same assignment and participation provisions applicable to Revolving Credit Commitments and Revolving Loans and (v) the
Permitted Refinancing Term Loans may participate on a pro rata basis or less than pro rata basis (but not on a greater than pro
rata basis) in any voluntary or mandatory prepayments of Term Loans hereunder, as specified in the applicable Permitted Refinancing
Amendment.

 

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(b)
Terms, Etc. The terms, provisions and documentation of any Permitted Refinancing Loans and Permitted Refinancing Commitments
shall be subject to the limitations set forth in the definition of “Permitted Credit Agreement Refinancing Indebtedness”.

 

(c)
Minimum Amounts. Each issuance of Permitted Credit Agreement Refinancing Indebtedness under Section 2.26(a) shall be in
an aggregate principal amount that is not less than the amounts set forth in Section 6.1(v)(i).

 

(d)
Conditions Precedent. The effectiveness of any Permitted Refinancing Amendment shall be subject to the satisfaction or
waiver on the date thereof of each of the conditions set forth in Section 3.2, provided that, to the extent any Permitted Refinancing
Amendment is entered into in connection with a Limited Condition Acquisition, (x) the effectiveness thereof shall instead be subject
only to customary “SunGard” or “certain funds” conditionality to the extent agreed by the Borrower Representative
and the Lenders providing the Permitted Refinancing Loans thereunder and (y) on the date of effectiveness of such Permitted Refinancing
Amendment, both immediately before and immediately after giving effect thereto and the borrowings thereunder, no Event of Default
under Sections 8.1(a), 8.1(f) or 8.1(g) shall have occurred and be continuing or would result therefrom, and, to the extent reasonably
requested by the Administrative Agent, receipt by the Administrative Agent of (i) board resolutions, officers’ certificates
and/or reaffirmation agreements consistent with those delivered on the Closing Date under Section 3.1, (ii) customary legal opinions
reasonably acceptable to the Administrative Agent consistent with those delivered on the Closing Date under Section 3.1 and (iii)
reaffirmation agreements and/or such amendments to the Collateral Documents as may be reasonably requested by the Administrative
Agent to ensure that such Permitted Credit Agreement Refinancing Indebtedness is provided with the benefit of the applicable Credit
Documents.

 

(e)
Effectiveness. The Administrative Agent shall promptly notify each Lender as to the effectiveness of each Permitted Refinancing
Amendment. Each of the parties hereto hereby agrees that, upon the effectiveness of any Permitted Refinancing Amendment, this
Agreement shall be deemed amended to the extent (but only to the extent) necessary to reflect the existence and terms of the Permitted
Credit Agreement Refinancing Indebtedness incurred pursuant thereto (including any amendments necessary to treat the Loans and
Commitments subject thereto as Permitted Refinancing Loans and/or Permitted Refinancing Commitments).

 

(f)
Necessary Amendments. Any Permitted Refinancing Amendment may, without the consent of any other Lender, effect such amendments
to this Agreement and the other Credit Documents as may be necessary or appropriate, in the reasonable opinion of the Administrative
Agent and the Borrower Representative, to effect the provisions of this Section 2.26 and each of the Secured Parties hereby consents
to the transactions contemplated by this Section 2.26 (including, for the avoidance of doubt, payment of interest, fees or premium
in respect of any Permitted Credit Agreement Refinancing Indebtedness on such terms as may be set forth in the relevant Permitted
Refinancing Amendment in accordance with this Section 2.26).

 

(g)
Preemption. This Section 2.26 shall preempt and supersede any provision in Section 2.15, 2.17 or 10.5 to the contrary.

 

2.27
Joint and Several Liability.

 

(a)
NRC Borrower and Sprint Borrower are jointly and severally liable for the Obligations (other than the Excluded Swap Obligations).
The Obligations of NRC Borrower and Sprint Borrower are independent of each other, and a separate action or actions may be brought
and prosecuted against either of NRC Borrower and Sprint Borrower to enforce this Agreement, irrespective of whether any action
is brought against any other Person or whether any other Person is joined in any such action or actions.

 

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(b)
Notwithstanding any provision to the contrary contained herein or in any other of the Credit Documents, to the extent the obligations
of NRC Borrower and Sprint Borrower to repay any Obligations incurred by the other shall be adjudicated to be invalid or unenforceable
for any reason (including, without limitation, because of any applicable state or federal law relating to fraudulent conveyances
or transfers) then the obligations of such Person hereunder shall be limited to the maximum amount that is valid and enforceable
under applicable law (whether federal or state and including, without limitation, any bankruptcy, insolvency or other similar
law).

 

(c)
Each of NRC Borrower and Sprint Borrower unconditionally guarantees, jointly with the other and severally, as a primary obligor
and not merely as a surety, the due and punctual payment and performance of the Obligations (other than the Excluded Swap Obligations).
Each of NRC Borrower and Sprint Borrower further agrees that it will remain bound upon its guarantee notwithstanding any extension
or renewal of any Obligation. Each of NRC Borrower and Sprint Borrower waives in respect of its respective acceptance of joint
and several liability in respect of the Obligations of the other, (i) presentment to, demand of payment from and protest to either
of them or any other Credit Party of any Obligation (other than the Excluded Swap Obligations), (ii) notice of acceptance of its
guarantee and notice of protest for nonpayment and (iii) any other defenses or benefits that may be derived from or afforded by
Law which limit the liability of or exonerate guarantors or sureties, or that conflict with the terms hereof. Each of NRC Borrower
and Sprint Borrower further agrees that its guarantee hereunder constitutes a guarantee of payment when due and not of collection,
and waives any right to require that any resort be had by the Collateral Agent or any other Secured Party to any security held
for the payment of the Obligations or to any balance of any deposit account or credit on the books of the Collateral Agent or
any other Secured Party in favor of any of them or any other person. Each of NRC Borrower and Sprint Borrower agrees that its
joint and several obligations are irrevocable, absolute, independent and unconditional and shall not be affected by any circumstance
which constitutes a legal or equitable discharge of a guarantor or surety other than payment in full of the Obligations.

 

2.28
Borrower Representative.

 

(a)
Each of NRC Borrower and Sprint Borrower hereby irrevocably appoints NRC US Holding Company, LLC acting as Borrower Representative,
and NRC US Holding Company, LLC acting as Borrower Representative agrees to act under this Agreement and the other Credit Documents,
as the agent and representative of each of them (including itself) for all purposes under this Agreement and the other Credit
Documents (in such capacity, the “Borrower Representative”), including, without limitation, (i) submitting
borrowing requests, conversion or continuation notices, notices requesting issuance of Letters of Credit, disbursement instructions,
reports, information, or any other notice or communication to be made or given by either of them under this Agreement or any other
Credit Document, and (ii) receiving account statements and other notices and communications to either of them from the Administrative
Agent, Collateral Agent or any Lender.

 

(b)
Each of the Administrative Agent, the Collateral Agent, each Issuing Bank and each Lender may rely, and shall be fully protected
in relying, on any borrowing request, conversion or continuation notices, notices requesting issuance of Letters of Credit, disbursement
instructions, reports, information, or any other notice or communication to be made or given by Borrower Representative, whether
in its own name, or on behalf of either or both of the Borrowers, and none of the Administrative Agent, Collateral Agent, any
Issuing Bank nor any Lender shall have any obligation to make any inquiry or request any confirmation from or on behalf of any
of NRC Borrower and Sprint Borrower as to the binding effect on either of them of any such borrowing request, conversion or continuation
notices, notices requesting issuance of Letters of Credit, disbursement instructions, reports, information, or any other notice
or communication.

 

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SECTION
3 CONDITIONS PRECEDENT

 

3.1
Conditions to Closing Date. The obligations of each Lender to make a Loan, and each Issuing Bank to issue any Letter
of Credit, on the Closing Date are subject to the satisfaction, or waiver in accordance with Section 10.5, of only the following
conditions on or before the Closing Date, each to the satisfaction of the Administrative Agent and the Lenders in their sole discretion
and, as to any agreement, document or instrument specified below, each in form and substance reasonably satisfactory to the Administrative
Agent:

 

(a) Credit Documents. The Administrative Agent shall have received each of the following Credit Documents (together with the
schedules and exhibits thereto, if any), duly executed and delivered by each applicable Credit Party:

 

		(i)	this Agreement;

 

		(ii)	the Pledge and Security Agreement;

 

		(iii)	each Intellectual Property Security Agreement, if any;

 

		(iv)	each Assignment of Insurances; and

 

		(v)	each Vessel Mortgage.

  

(b)
Secretary’s Certificate and Attachments. The Administrative Agent shall have received a duly executed certificate
from the secretary or assistant secretary of each Credit Party (or any other officer reasonably acceptable to the Administrative
Agent), together with all applicable attachments, certifying as to the following:

 

		(i)	Organizational Documents. Attached thereto is a copy of each Organizational Document of
such Credit Party and, to the extent applicable, certified as of a recent date by the appropriate governmental official, each dated
the Closing Date or a recent date prior thereto.

 

		(ii)	Signature and Incumbency. Set forth therein are the signature and incumbency of the officers
or other authorized representatives of such Credit Party executing the Credit Documents to which it is a party.

 

		(iii)	Resolutions. Attached thereto are copies of resolutions of the Board of Directors of such
Credit Party approving and authorizing the execution, delivery and performance of this Agreement and the other Credit Documents
to which it is a party as of the Closing Date, certified as of the Closing Date as being in full force and effect without modification
or amendment.

 

		(iv)	Good Standing Certificates. Attached thereto is a good standing certificate or certificate
of existence (if and as applicable) from the applicable Governmental Authority of such Credit Party’s jurisdiction of incorporation,
organization or formation dated a recent date prior to the Closing Date.

  

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(c)
Funding Notice and Flow of Funds Memorandum. The Administrative Agent shall have received a fully executed and delivered
Funding Notice, no later than 12:00 noon. at least one (1) Business Day in advance of the Closing Date, or such later time or
date as the Administrative Agent may agree, together with a flow of funds memorandum attached thereto with respect to the Related
Transactions to occur as of the Closing Date.

 

(d)
Closing Date Certificate and Attachments. The following shall have occurred (or shall occur substantially concurrently
with the making of the Loans on the Closing Date), and the Administrative Agent shall have received a duly executed Closing Date
Certificate, together with all applicable attachments, certifying as to the following:

 

		(i)	Closing
Date Contribution. The Closing Date Contribution shall have been consummated in accordance with the terms of the Closing Date
Contribution Documents in all material respects without any waiver, amendment, supplement or other modification that is materially
adverse to the interests of the Lenders unless the Lead Arranger has consented thereto, such consent not to be unreasonably withheld,
conditioned or delayed, and all conditions precedent to the consummation of the Closing Date Contribution, as set forth in the
Closing Date Contribution Documents, shall have been satisfied.

 

		(ii)	Application
of Proceeds. The proceeds of the borrowings made on the Closing Date pursuant to this Agreement shall be sufficient, and shall
have been applied, to (A) repay all Existing Indebtedness, (B) if paid on the Closing Date, pay the 2018 Dividend and (C) pay
fees and expenses of the Credit Parties in connection with the foregoing due on the Closing Date.

 

		(iii)	Material
Adverse Effect. Since December 31, 2017, no event or change has occurred that has caused or evidences, either in any case
or in the aggregate, a Material Adverse Effect.

 

		(iv)	Closing
Date Contribution Documents. Attached thereto is a true, complete and correct copy of each of the material Closing Date Contribution
Documents in effect as of the Closing Date.

 

		(v)	Management
Agreement. Attached thereto is a true, complete and correct copy of the Management Agreement.

 

(e)
Existing Indebtedness. On the Closing Date:

 

		(i)	Repayment.
The Existing Indebtedness shall have been repaid in full, except with respect to the Existing Letters of Credit.

 

		(ii)	Termination.
All commitments under the Existing Indebtedness, if any, to lend or make other extensions of credit thereunder shall have been
terminated.

 

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		(iii)	Release
of Liens. The Administrative Agent shall have received all documents or instruments necessary to release all Liens securing
the Existing Indebtedness or other obligations of Parent and its Subsidiaries thereunder being repaid on the Closing Date, or
arrangements therefor reasonably satisfactory to the Administrative Agent shall have been made.

 

		(iv)	Existing
Letters of Credit. Arrangements reasonably satisfactory to the Administrative Agent with respect to the cancellation of the
Existing Letters of Credit or the issuance of Letters of Credit or provision of cash collateral to support the obligations of
Parent and its Subsidiaries with respect to any Existing Letters of Credit shall have been made.

 

(f)
Solvency Certificate. The Administrative Agent shall have received a duly executed Solvency Certificate.

 

(g)
Collateral. The Collateral Agent shall have received:

 

		(i)	Lien Searches. The results of a recent search, by a Person reasonably satisfactory to the
Administrative Agent, of all effective UCC financing statements (or equivalent filings) made with respect to any personal or mixed
property of any Credit Party in the appropriate jurisdictions, together with copies of all such filings disclosed by such search.

 

		(ii)	Termination Statements. UCC termination statements (or similar documents) for filing in
all applicable jurisdictions as may be necessary to terminate any effective UCC financing statements (or equivalent filings) disclosed
in such search (other than any such financing statements in respect of Permitted Liens), or provision for the delivery thereof
to the Collateral Agent reasonably acceptable thereto shall have been made.

 

		(iii)	UCC Financing Statements. UCC financing statements for each Credit Party, in form and substance
satisfactory reasonably to the Administrative Agent and the Collateral Agent.

 

		(iv)	Landlord Waiver and Consent Agreements. An executed Landlord Waiver and Consent Agreement
as required by the Pledge and Security Agreement, in form and substance reasonably satisfactory to the Administrative Agent and
the Collateral Agent.

 

		(v)	Securities. Originals of Securities as required by Pledge and Security Agreement with endorsements,
in form and substance satisfactory to the Administrative Agent and the Collateral Agent, or provision for the delivery thereof
to the Collateral Agent reasonably acceptable thereto shall have been made.

 

		(vi)	Instruments and Chattel Paper. Originals of instruments and chattel paper as required by
the Pledge and Security Agreement with endorsements, in form and substance reasonably satisfactory to the Administrative Agent
and the Collateral Agent, or provision for the delivery thereof to the Collateral Agent reasonably acceptable thereto shall have
been made.

  

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		(vii)	Vessel Certificates of Documentation and Abstracts of Title. Copies of current U.S. Coast
Guard Certificates of Documentation, and recent Abstracts of Title covering all Vessels documented under the federal laws of the
United States listed on Schedule 4.27.

  

Provided,
if clauses (iv), (vi) or (vii) of this Section 3.1(g) are not satisfied on the Closing Date, then the satisfaction of such requirements
shall not be a condition to the availability of the Credit Extensions on the Closing Date (but shall be required to be satisfied
promptly after the Closing Date and in any event within ninety (90) days following the Closing Date or such later date as the
Administrative Agent may reasonably agree in its sole discretion); provided, further, if Parent and the Borrowers
are unable to satisfy the requirements of clause (iv) of this Section 3.1(g) notwithstanding their commercially reasonable efforts
to satisfy such requirements in such time period (it being understood that such commercially reasonable efforts shall not require
any Credit Party to agree to any material increase in payments associated with the applicable lease arrangement, or any other
adverse change to the terms thereof, to obtain any such Landlord Waiver and Consent Agreement), then such deliveries shall not
be required as a condition under this Section 3.1 or otherwise.

 

(h)
Financial Statements. The Administrative Agent shall have received (i) the Historical Financial Statements, (ii) pro forma
consolidated balance sheets and income statements of Parent and its Restricted Subsidiaries as at the Closing Date, reflecting
the consummation of the Related Transactions, the related financings and the other transactions contemplated by the Credit Documents
to occur on the Closing Date and (iii) the Projections.

 

(i)
Opinions of Counsel to Credit Parties. The Administrative Agent and its counsel shall have received duly executed copies
of the favorable written opinion of Jones Day, Stoel Rives LLP and Blank Rome LLP, each as special counsel for the Credit Parties,
in form and substance reasonably satisfactory to the Administrative Agent, dated as of the Closing Date (and each Credit Party
hereby instructs such counsel to deliver such opinions to the Agents and the Lenders).

 

(j)
Evidence of Insurance. The Administrative Agent shall have received a certificate from the Borrowers’ insurance broker
or other evidence reasonably satisfactory to it that all insurance required to be maintained pursuant to Section 5.5(a) is in
full force and effect and that the Collateral Agent, for the benefit of the Secured Parties, has been named as additional insured
and loss payee thereunder to the extent required under Section 5.5(b). In connection with any Mortgaged Vessel, the Administrative
Agent shall have received a copy of, or a certificate as to coverage under, the Insurance Policies required by Section 5.5 and
the applicable provisions of the Collateral Documents, which shall be endorsed or otherwise amended to include the loss payable
clauses required under the Assignment of Insurances and shall name the Collateral Agent on behalf of the Secured Parties, as additional
insured, shall be otherwise in form and substance reasonably satisfactory to the Administrative Agent, and shall include customary
mortgagee’s interest insurance (in the name of the Collateral Agent) in form and substance reasonably satisfactory to the
Administrative Agent. Any requirement with respect to endorsements set out in this clause (j) shall not be required to be satisfied
on the Closing Date and shall not be a condition to the availability of the Credit Extensions on the Closing Date but shall be
required to be satisfied within ninety (90) days following the Closing Date or such later date as the Administrative Agent may
reasonably agree in its sole discretion.

 

(k)
Fees and Expenses. The Borrowers shall have paid to the Lead Arranger, the Administrative Agent and the Collateral Agent
the fees payable to each such Person on the Closing Date referred to in Section 2.11(g) to the extent due and payable on the Closing
Date and the expenses of each such Person referred to in Section 10.2(a) to the extent due and payable on the Closing Date; provided,
any such expenses due and payable on the Closing Date shall be included in a summary invoice delivered to the Borrowers at least
two (2) Business Days prior to the Closing Date.

 

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(l)
“Know-Your-Customer”, Etc. (i) Solely to the extent specifically requested by the Administrative Agent of the
Borrower Representative at least ten (10) days prior to the Closing Date, the Administrative Agent shall have received not less
than three (3) Business Days prior to the Closing Date all documentation and other information required under Anti-Terrorism Laws
and applicable “know-your-customer” and anti-money laundering Laws; and (ii) at least three (3) days prior to the
Closing Date (or such later date as is acceptable to the Administrative Agent), any Borrower that qualifies as a “legal
entity customer” under the Beneficial Ownership Regulation shall deliver a Beneficial Ownership Certification in relation
to such Borrower.

 

(m)
Representations and Warranties. As of the Closing Date, the representations and warranties contained herein and in the
other Credit Documents shall be true and correct in all material respects (except for those representations and warranties that
are conditioned by materiality, which shall be true and correct in all respects) on and as of the Closing Date to the same extent
as though made on and as of that date, except to the extent such representations and warranties specifically relate to an earlier
date, in which case such representations and warranties shall have been true and correct in all material respects (except for
those representations and warranties that are conditioned by materiality, which shall have been true and correct in all respects)
on and as of such earlier date.

 

(n)
No Default or Event of Default. As of the Closing Date, no event shall have occurred and be continuing or would result
from the consummation of the Credit Extensions on such date that would constitute a Default or an Event of Default.

 

Each
Lender, each Issuing Bank and each Agent, by delivering its signature page to this Agreement and, if applicable, funding a Loan
or issuing a Letter of Credit (including the deemed issuance of the NRC Letters of Credit) on the Closing Date, shall be deemed
to have acknowledged receipt of, and consented to and approved, each Credit Document and each other document, agreement, instrument,
certificate or opinion required to be approved by such Lender, Issuing Bank or Agent, as the case may be, on the Closing Date.

 

3.2
Conditions to Subsequent Credit Extensions.

 

(a)
Conditions Precedent. The obligations of each Lender to make any Loan (other than, for the avoidance of doubt, in respect
of Loans made or deemed made pursuant to Section 2.3(g) or 2.4(d), and subject to Section 2.25(d) and 2.26(d), if applicable),
or each Issuing Bank to issue any Letter of Credit, on any Credit Date other than the Closing Date are subject to the satisfaction,
or waiver in accordance with Section 10.5, of only the following conditions precedent:

 

		(i)	Notice. The Administrative Agent shall have received a fully executed and delivered Funding
Notice or Issuance Notice, as the case may be;

 

		(ii)	Revolving Credit Limit. Immediately after making the Credit Extensions requested on such
Credit Date, the Total Utilization of Revolving Credit Commitments shall not exceed the Revolving Credit Limit then in effect;

 

    	 	102	 

     

    

 

		(iii)	Representations and Warranties. As of such Credit Date, the representations and warranties
contained herein and in the other Credit Documents shall be true and correct in all material respects (except for those representations
and warranties that are conditioned by materiality, which shall be true and correct in all respects) on and as of that Credit Date
to the same extent as though made on and as of that date, except to the extent such representations and warranties specifically
relate to an earlier date, in which case such representations and warranties shall have been true and correct in all material respects
(except for those representations and warranties that are conditioned by materiality, which shall have been true and correct in
all respects) on and as of such earlier date; and

 

		(iv)	No Default or Event of Default. As of such Credit Date, no event shall have occurred and
be continuing or would result from the consummation of the applicable Credit Extension that would constitute a Default or an Event
of Default.

  

In
addition, with respect to the issuance of any Letter of Credit, the Administrative Agent shall have received all other information
required by the applicable Issuance Notice, and such other documents or information as the applicable Issuing Bank may reasonably
require in connection with the issuance of such Letter of Credit.

 

(b)
Notices. In lieu of delivering a Notice, the Borrower Representative may give the Administrative Agent telephonic notice
by the required time of any proposed borrowing, conversion/continuation or issuance of a Letter of Credit, as the case may be;
provided, each such notice shall be promptly confirmed in writing by delivery of the applicable Notice to the Administrative
Agent on or before the applicable date of borrowing, continuation/conversion or issuance. Neither the Administrative Agent nor
any Lender shall incur any liability to the Borrowers, absent willful misconduct or gross negligence, in acting upon any telephonic
notice that the Administrative Agent believes in good faith to have been given by an Authorized Officer or other Person authorized
on behalf of the Borrowers or for otherwise acting in good faith.

 

SECTION
4 REPRESENTATIONS AND WARRANTIES

 

To
induce the Lenders, each Agent and each Issuing Bank to enter into this Agreement and to make each Credit Extension to be made
thereby, each Credit Party represents and warrants to the Lenders, the Agents and each Issuing Bank, on the Closing Date and on
each Credit Date (other than, for the avoidance of doubt, in respect of Loans made or deemed made pursuant to Section 2.3(g) or
2.4(d), and subject to Section 2.25(d) and 2.26(d), if applicable), that the following statements are true and correct (it being
understood and agreed that the representations and warranties made on the Closing Date are also deemed to be made concurrently
with the consummation of the Related Transactions):

 

4.1
Organization; Required Power and Authority; Qualification. Each of Parent and its Restricted Subsidiaries (a) is duly
organized, validly existing and in good standing (to the extent such concepts are applicable) under the Laws of its jurisdiction
of organization as identified in Schedule 4.1 other than (i) as a result of a transaction permitted under Sections 6.8 or 6.9
and (ii) other than with respect to Parent, the Holding Companies and the Borrowers, in jurisdictions where the failure to be
so qualified or in good standing has not had, and could not be reasonably expected to have, a Material Adverse Effect, (b) has
all requisite corporate (or equivalent) power and authority to own and operate its properties, to lease the property it operates
as lessee, to carry on its business as now conducted, to enter into the Credit Documents to which it is a party and to carry out
the transactions contemplated thereby, and (c) is qualified to do business and in good standing in every jurisdiction where its
assets are located and wherever necessary to carry out its business and operations, except in jurisdictions where the failure
to be so qualified or in good standing could not be reasonably expected to have a Material Adverse Effect.

 

    	 	103	 

     

    

 

4.2
Equity Interests and Ownership. The Equity Interests of each of Parent and its Restricted Subsidiaries have been duly
authorized and validly issued and are fully paid and non-assessable (in the case of Foreign Subsidiaries, to the extent such concepts
are applicable thereto). Except as set forth on Schedule 4.2, as of the date hereof, there is no existing option, warrant, call,
right, commitment or other agreement (including preemptive rights) to which any Restricted Subsidiary is a party requiring, and
there is no Equity Interest of any Restricted Subsidiary outstanding that upon conversion or exchange would require, the issuance
by any Restricted Subsidiary of any additional Equity Interests thereof or other Securities convertible into, exchangeable for
or evidencing the right to subscribe for or purchase, Equity Interests of any Restricted Subsidiary. Schedule 4.2 correctly sets
forth the ownership interest of Parent and its Restricted Subsidiaries in their respective Restricted Subsidiaries as of the Closing
Date after giving effect to the Related Transactions.

 

4.3
Due Authorization. The execution, delivery and performance of each Credit Document has been duly authorized by all
necessary corporate (or equivalent) action on the part of each Credit Party that is a party thereto.

 

4.4
No Conflict. The execution, delivery and performance by each Credit Party of the Credit Documents to which it is a
party and the consummation of the transactions contemplated by each such Credit Document do not and will not (a) violate any of
the Organizational Documents of any Credit Party or otherwise require any approval of any stockholder, member or partner of such
Credit Party, except for such approvals or consents which will be obtained on or before the Closing Date; (b) violate any provision
of any Law applicable to or otherwise binding on Parent or any of its Restricted Subsidiaries, except to the extent such violation
could not be reasonably expected to have a Material Adverse Effect; (c) result in or require the creation or imposition of any
Lien upon any of the properties or assets of Parent or any of its Restricted Subsidiaries (other than any Permitted Liens); or
(d) conflict with, result in a breach of or constitute (with due notice or lapse of time or both) a default under, or otherwise
require any approval or consent of any Person under, any Contractual Obligation of Parent or any of its Restricted Subsidiaries,
except to the extent such conflict, breach or default could not reasonably be expected to have a Material Adverse Effect, and
except for such approvals or consents (i) that have been or will be obtained on or before the Closing Date or (ii) the failure
of which to obtain could not reasonably be expected to have a Material Adverse Effect.

 

4.5
Governmental Consents. The execution, delivery and performance by each Credit Party of the Credit Documents to which
it is a party and the consummation of the transactions contemplated by each such Credit Document do not and will not require any
registration with, consent or approval of, or notice to, or other action to, with or by, any Governmental Authority, except (a)
such as have been obtained, given or performed and are in full force and effect, (b) for filings and recordings with respect to
the Collateral to be made, or otherwise delivered to the Collateral Agent for filing and/or recordation, as of the Closing Date
and (c) those which, if not obtained or made, could not reasonably be expected to have, either individually or in the aggregate,
a Material Adverse Effect.

 

4.6
Binding Obligation. Each Credit Document has been duly executed and delivered by each Credit Party that is a party
thereto and is the legally valid and binding obligation of such Credit Party, enforceable against such Credit Party in accordance
with its respective terms, except as may be limited by bankruptcy, insolvency, reorganization, moratorium or similar Laws relating
to or limiting creditors’ rights generally or by equitable principles relating to enforceability.

 

4.7
Historical Financial Statements. The Historical Financial Statements were prepared in conformity with GAAP and fairly
present, in all material respects, the financial position, on a consolidated basis, of the Persons described in such financial
statements as at the respective dates thereof and the results of operations and cash flows, on a consolidated basis, of the entities
described therein for each of the periods then ended, subject, in the case of any such unaudited financial statements, to changes
resulting from audit and normal year-end adjustments and the absence of footnotes.

 

    	 	104	 

     

    

 

4.8
Projections. On and as of the Closing Date, the Projections are based on good faith estimates and assumptions made
by the management of Parent; provided, the Projections are not to be viewed as facts and that actual results during the
period or periods covered by the Projections may differ from such Projections and that the differences may be material; provided
further, as of the Closing Date, management of Parent believed that the Projections were reasonable and attainable.

 

4.9
No Material Adverse Change. Since December 31, 2017, no event or change has occurred that has caused or evidences,
either in any case or in the aggregate, a Material Adverse Effect.

 

4.10
Adverse Proceedings. There are no Adverse Proceedings, individually or in the aggregate, that could reasonably be expected
to have a Material Adverse Effect. Neither Parent nor any of its Restricted Subsidiaries is subject to or in default with respect
to any final judgments, writs, injunctions, decrees, rules or regulations of any Governmental Authority, domestic or foreign,
that, individually or in the aggregate, could reasonably be expected to have a Material Adverse Effect.

 

4.11
Payment of Taxes. All material Tax returns and reports of Parent and its Restricted Subsidiaries and Unrestricted Subsidiaries
required to be filed by any of them have been timely filed or caused to be timely filed, and all material Taxes shown on such
Tax returns to be due and payable and all other material Taxes upon Parent and its Restricted Subsidiaries and Unrestricted Subsidiaries
and upon their respective properties, assets, income, businesses and franchises which are due and payable have been paid or caused
to be duly and timely paid when due and payable, other than any Tax (and returns in respect of any Tax) being contested in good
faith by appropriate proceedings timely instituted and diligently conducted, so long as (a) reserves or other appropriate provisions,
as shall be required in conformity with GAAP shall have been made therefor, and in the case of any Tax or claim that has or may
become a Lien against any material Collateral, such contest proceedings operate to stay the sale of any portion of the Collateral
to satisfy such Tax or claim or (b) the failure to so pay would not reasonably be expected, individually or in the aggregate,
to constitute a Material Adverse Effect. As of the Closing Date, Parent knows of no written proposed material Tax assessment against
Parent or any of its Restricted Subsidiaries that is not being actively contested by Parent, the Borrowers or such Restricted
Subsidiary in good faith and by appropriate proceedings; provided, such reserves or other appropriate provisions, if any,
as shall be required in conformity with GAAP shall have been made or provided therefor.

 

4.12
Title. Parent or one of its Restricted Subsidiaries has (a) good and legal title to (in the case of fee interests in
Real Estate Assets and Vessels), (b) valid leasehold interests in (in the case of leasehold interests in real or personal property),
(c) valid licensed rights in (in the case of licensed interests in intellectual property), and (d) good title to (in the case
of all other personal property), all of their respective properties and assets reflected in their most recent respective Historical
Financial Statements or, after delivery of financial statements pursuant to Section 5.1, the most recent thereof, in each case
except (i) for assets disposed of since the date of such financial statements in the ordinary course of business or as otherwise
permitted under Section 6.4, 6.6, 6.8 or 6.9 or (ii) as could not reasonably be expected to have a Material Adverse Effect. Except
as permitted by this Agreement, all such properties and assets are free and clear of Liens.

 

4.13
Real Estate Assets. Schedule 4.13 is a complete and correct list as of the Closing Date of (a) all Real Estate Assets
and (b) all material leases and subleases of any Real Estate Asset, in each case of any Credit Party, regardless of whether such
Credit Party is the landlord or tenant (whether directly or as an assignee or successor in interest) under such lease or sublease.

 

    	 	105	 

     

    

 

4.14
Environmental Matters. Neither Parent nor any of its Restricted or Unrestricted Subsidiaries nor any of their respective
Facilities, Vessels or operations are subject to any outstanding written order, consent decree or settlement agreement with any
Person relating to any Environmental Law, any Environmental Claim, or any Hazardous Materials Activity, in each case that individually
or in the aggregate has had or could reasonably be expected to have, a Material Adverse Effect. Neither Parent nor any of its
Restricted or Unrestricted Subsidiaries has received any letter or request for information under Section 104 of the Comprehensive
Environmental Response, Compensation, and Liability Act (42 USC. § 9604) or any comparable state Law that individually or
in the aggregate has had, or could reasonably be expected to have, a Material Adverse Effect. To each of Parent’s and its
Subsidiaries’ knowledge, there are and have been, no conditions, occurrences, or Hazardous Materials Activities which could
reasonably be expected to form the basis of an Environmental Claim against Parent or any of its Restricted or Unrestricted Subsidiaries
that, individually or in the aggregate, could reasonably be expected to have a Material Adverse Effect. Except as could not reasonably
be expected to have a Material Adverse Effect, neither Parent nor any of its Restricted or Unrestricted Subsidiaries has filed
any notice under any Environmental Law indicating past or present treatment of Hazardous Materials at any Real Property Facility,
and none of Parent’s or any of its Restricted or Unrestricted Subsidiaries’ operations involves the generation, transportation,
treatment, storage or disposal of hazardous waste, as defined under 40 C.F.R. Parts 260-270 or any state equivalent that individually
or in the aggregate has had, or could reasonably be expected to have, a Material Adverse Effect. No event or condition is occurring
or, to each of Parent’s, and its Restricted or Unrestricted Subsidiaries’ knowledge, has occurred with respect to
Parent or any of its Restricted or Unrestricted Subsidiaries relating to any Environmental Law, any Release of Hazardous Materials,
or any Hazardous Materials Activity that individually or in the aggregate has had, or could reasonably be expected to have, a
Material Adverse Effect. The representations and warranties in this Section 4.14 are the sole representations and warranties of
Parent and its Restricted Subsidiaries with respect to environmental matters, including matters arising under Environmental Law
or involving Environmental Claims, Hazardous Materials, or Hazardous Materials Activities.

 

4.15
No Defaults. Neither Parent nor any of its Restricted Subsidiaries is in default in the performance, observance or
fulfillment of any of the obligations, covenants or conditions contained in any of its Contractual Obligations (other than any
Credit Document or any other documentation with respect to any Indebtedness), and no condition exists which, with the giving of
notice or the lapse of time or both, could constitute such a default, except where the consequences, direct or indirect, of such
default or defaults, if any, could not reasonably be expected to have a Material Adverse Effect.

 

4.16
Investment Company Regulation. Neither Parent nor any of its Restricted Subsidiaries is, or is required to be, registered
under the Investment Company Act of 1940.

 

4.17
Margin Stock. Neither Parent nor any of its Restricted Subsidiaries is engaged principally, or as one of its important
activities, in the business of purchasing or carrying any Margin Stock or extending credit for the purpose of purchasing or carrying
any Margin Stock. No part of the proceeds of any Credit Extension made to or for the benefit of any Credit Party will be used
to purchase or carry any Margin Stock or to extend credit to others for the purpose of purchasing or carrying any Margin Stock
or for any purpose that, in any such case, violates the provisions of Regulation T, U or X of the Board of Governors.

 

4.18
Employee Matters. Neither Parent nor any of its Restricted Subsidiaries is engaged in any unfair labor practice that
could reasonably be expected to result in a Material Adverse Effect. There is (a) no unfair labor practice complaint pending against
Parent or any of its Restricted Subsidiaries or, to the knowledge of Parent or the Borrowers, threatened in writing against any
of them before the National Labor Relations Board, and no grievance or arbitration proceeding arising out of or under any collective
bargaining agreement that is pending against Parent or any of its Restricted Subsidiaries or, to the knowledge of Parent or the
Borrowers, threatened in writing against any of them, (b) no strike or work stoppage in existence or threatened in writing involving
Parent or any of its Restricted Subsidiaries, (c) to the knowledge of Parent or the Borrowers, no union representation question
existing with respect to the employees of Parent or any of its Restricted Subsidiaries and (d) to the knowledge of Parent or the
Borrowers, no union organization activity that is taking place, except, with respect to any matter specified in clause (a), (b),
(c) or (d) above, either individually or in the aggregate, that could not reasonably be likely to give rise to a Material Adverse
Effect.

 

    	 	106	 

     

    

 

4.19
Employee Benefit Plans.

 

(a)
Except in each case as would not result in a Material Adverse Effect: (i) with respect to each Employee Benefit Plan and Foreign
Pension Plan, Parent and its Restricted or Unrestricted Subsidiaries are in material compliance with all applicable Laws, including
the provisions and requirements of ERISA and the Code, and the terms of each Employee Benefit Plan; (ii) each Employee Benefit
Plan which is intended to qualify under Section 401(a) of the Code has received a favorable determination letter from the IRS,
or is entitled, under applicable IRS guidance, to rely on a current favorable opinion or advisory letter from the IRS, indicating
that such Employee Benefit Plan is so qualified and nothing has occurred subsequent to the issuance of such determination, opinion
or advisory letter and, to the knowledge of Parent or the Borrowers, there are no circumstances that would reasonably be expected
to cause such Employee Benefit Plan to lose its qualified status; (iii) no liability to the PBGC (other than required premium
payments) has been or is expected to be incurred by any ERISA Party; (iv) no ERISA Event has occurred or is reasonably expected
to occur; (v) no ERISA Party is in material “default” (as defined in Section 4219(c)(5) of ERISA) with respect to
payments to a Multiemployer Plan; and (vi) neither Parent nor any of its Restricted Subsidiaries has incurred any material obligation
in connection with the termination of, or withdrawal from, any Foreign Pension Plan.

 

(b)
No Borrower is or will be (i) an employee benefit plan subject to Title I of ERISA; (ii) a plan or account subject to Section
4975 of the Code; (iii) an entity deemed to hold “plan assets” of any such plans or accounts for within the meaning
of Section 3(42) of ERISA; or (iv) a “governmental plan” within the meaning of ERISA.

 

4.20
Certain Fees. No broker’s or finder’s fee or commission will be payable with respect to the financing transaction
contemplated hereby except as payable to the Agents and the Lenders.

 

4.21
Solvency. Parent and its Restricted Subsidiaries are and, upon the making of any Loan or issuance of any Letter of
Credit on any date on which this representation and warranty is made, will be, taken as a whole, Solvent.

 

4.22
Closing Date Contribution Documents. On the Closing Date, (a) all of the conditions to effectuating or consummating
the Related Transactions as set forth in the Closing Date Contribution Documents have been (or shall be concurrently) duly satisfied
or waived with the consent of the Administrative Agent (such consent not to be unreasonably withheld or delayed), and (b) the
Related Transactions have been (or shall be concurrently) consummated in accordance with the Closing Date Contribution Documents.

 

4.23
Compliance with Laws.

 

(a)
Generally. Each of Parent and its Restricted Subsidiaries is in compliance with all applicable Laws in respect of the conduct
of its business and the ownership of its property, except such non-compliance that, individually or in the aggregate, could not
reasonably be expected to result in a Material Adverse Effect.

 

    	 	107	 

     

    

 

(b)
Anti-Terrorism Laws. None of Parent or any of its Subsidiaries (and, to the knowledge of each such Person, no joint venture
or subsidiary thereof) is in violation in any material respect of any Anti-Terrorism Law.

 

(c)
AML Laws; Anti-Corruption Laws and Sanctions. Parent and its Restricted Subsidiaries and Unrestricted Subsidiaries have
implemented and maintain in effect policies and procedures intended to ensure compliance by Parent, its Subsidiaries and their
respective directors, officers, employees and agents (in each such Person’s capacity as such) with applicable Anti-Corruption
Laws, applicable AML Laws and applicable Sanctions. None of (i) Parent, any of its Restricted Subsidiaries or Unrestricted Subsidiaries
or any of their respective directors or officers, or, to the knowledge of Parent or the Borrowers, any of their respective employees,
or (ii) to the knowledge of Parent or the Borrowers, any agent of Parent, any of its Restricted Subsidiaries or Unrestricted Subsidiaries
or other controlled Affiliate (in each such Person’s capacity as such) that will act in any capacity in connection with
or benefit from the credit facility established hereby, (A) is a Sanctioned Person, or (B) is in violation of AML Laws, applicable
Anti-Corruption Laws, or applicable Sanctions, in each case in any material respect. No Loan or Letter of Credit or use of proceeds
thereof by Parent or any Restricted Subsidiary or Unrestricted Subsidiary will cause a violation of AML Laws, Anti-Corruption
Laws or applicable Sanctions by any Person participating in the transactions contemplated by this Agreement, whether as lender,
borrower, guarantor, agent, or otherwise. Parent and the Borrowers represent that neither Parent, the Borrowers nor any of its
Restricted Subsidiaries or Unrestricted Subsidiaries, nor its parent company, or, to the knowledge of Parent or the Borrowers,
any other controlled or controlling Affiliate has engaged in or intends to engage in any dealings or transactions with, or for
the benefit of, any Sanctioned Person or with or in any Sanctioned Country in violation of Sanctions in any material respect.

 

4.24
Disclosure.

 

(a)
No representation or warranty of Parent or any of its Restricted Subsidiaries contained in any Credit Document or in any other
documents, certificates or written statements furnished to any Agent or the Lenders by or on behalf of Parent or any of its Restricted
Subsidiaries for use in connection with the transactions contemplated hereby, taken as a whole and as modified by other information
so furnished, contains any untrue statement of a material fact or omits to state a material fact (known to Parent or the Borrowers,
in the case of any document not furnished by either of them) necessary in order to make the statements contained herein or therein,
taken as a whole and as modified by other information so furnished, not materially misleading in light of the circumstances in
which the same were made, provided that with respect to projections and pro forma financial information contained in such materials,
the Credit Parties represent only that such information was based upon good faith estimates and assumptions believed by Parent
or the Borrowers to be reasonable at the time made, it being recognized by the Agents and the Lenders that such projections as
to future events are not to be viewed as facts and that actual results during the period or periods covered by any such projections
may differ from the projected results.

 

(b)
As of the Closing Date, the information included in the Beneficial Ownership Certification is true and correct in all material
respects.

 

4.25
Collateral. Subject to Section 3.1(g) of this Agreement and Section 4.1 of the Pledge and Security Agreement, (i) when
all appropriate filings or recordings are made in the appropriate offices as may be required under applicable Laws and (ii) upon
the taking of possession or control by the Collateral Agent of such Collateral with respect to which a security interest may be
perfected only by possession or control, the security interest of the Collateral Agent in the Collateral (as defined in the Pledge
and Security Agreement) will constitute a valid, perfected First Priority security interest in and continuing Lien on all of each
Credit Party’s right, title and interest in, to and under such Collateral.

 

    	 	108	 

     

    

 

4.26
Status as Senior Indebtedness. The Obligations under the Credit Documents constitute “senior indebtedness”
as defined in any applicable Junior Financing Documentation, if any.

 

4.27
Vessels. Schedule 4.27 contains, as of the Closing Date, a true and complete list of each Material Vessel owned by
any Credit Party as of such date, and as to each such Material Vessel, specifies the following information (in each case as of
the Closing Date): the Material Vessel’s name, the official number or, if it is registered in a state, its registration
number, the name of its owner, the hailing port, the charterer/lessee’s name in the case of any Material Vessel that is
leased or chartered out by any Credit Party to another Credit Party or to a third party on a bareboat or demise basis, the vessel
type or other description, and the vessel’s classification status (if applicable). Parent and each Restricted Subsidiary
(and any Restricted Subsidiary in the chain of ownership of such Subsidiary) that owns and/or operates any Vessels in the U.S.
Coastwise Trade is, and has been during any period that it has owned and/or operated any Vessel in the U.S. Coastwise Trade, a
U.S. Citizen, and, except as would not reasonably be expected to have a Material Adverse Effect, the owner (or Parent or a Restricted
Subsidiary on behalf of the owner) maintains all Governmental Authorizations necessary with respect to the operation of such Vessels
in U.S. Coastwise Trade. The owner (or Parent or a Restricted Subsidiary on behalf of the owner) (i) maintains the due documentation
or registration of each Material Vessel with the NVDC or applicable state agency, as the case may be, and (ii) except in each
case as would not reasonably be expected to have a Material Adverse Effect, has in its possession certificates and permits necessary
for the operation of such Material Vessel under applicable Law, keeps such Material Vessel in appropriate condition in accordance
with applicable Laws (with exceptions for any Vessels that are laid up) and maintains the appropriate manning of such Material
Vessel.

 

4.28
Vessel Insurance. Schedule 4.28 contains, as of the Closing Date, a true and complete list of all insurance policies
of any nature maintained by any Credit Party primarily with respect to each Material Vessels (rather than general property of
liability insurance) owned by any Credit Party as of such date.

 

SECTION
5 AFFIRMATIVE COVENANTS

 

So
long as any Commitment is in effect and until payment in full of all Obligations (other than Remaining Obligations) and cancellation,
expiration or Cash Collateralization of all Letters of Credit, each Credit Party shall, and shall cause each of its Restricted
Subsidiaries to:

 

5.1
Financial Statements and Other Reports and Notices. Deliver to the Administrative Agent:

 

(a)
Quarterly Financial Statements. Within forty-five (45) days after the end of each of the first three Fiscal Quarters of
each Fiscal Year (beginning with the Fiscal Quarter ending June 30, 2018), (i) the consolidated balance sheet of Parent and its
Restricted Subsidiaries as at the end of such Fiscal Quarter and the related consolidated statements of income, stockholders’
equity and cash flows of Parent and its Restricted Subsidiaries for such Fiscal Quarter and for the period from the beginning
of the then current Fiscal Year to the end of such Fiscal Quarter, (ii) a consolidated balance sheet for each of the Standby Division,
the Environmental Services Division and the Waste Disposal Division, respectively, as at the end of such Fiscal Quarter and the
related consolidated statements of income for the Standby Division, the Environmental Services Division and the Waste Disposal
Division, respectively, for such Fiscal Quarter and for the period from the beginning of the then current Fiscal Year to the end
of such Fiscal Quarter; setting forth in each case of (i) and (ii) in comparative form the corresponding figures for the corresponding
periods of the previous Fiscal Year and the corresponding figures from the Financial Plan for the current Fiscal Year, all in
reasonable detail, together with a Financial Officer Certification and a Narrative Report with respect thereto; provided,
all financial statements and financial information of or with respect to periods prior to the Closing Date Contribution (including
for comparative purposes) may be of and/or in respect of the consolidated financial statements of NRC Holdings and/or Sprint Holdings,
in each case as deemed, estimated or adjusted by the Borrower Representative in good faith.

 

    	 	109	 

     

    

 

(b)
Annual Financial Statements. Within one hundred and five (105) days after the end of each Fiscal Year (beginning with the
Fiscal Year ending December 31, 2018), (i) the consolidated balance sheet of Parent and its Restricted Subsidiaries as at the
end of such Fiscal Year and the related consolidated statements of income, stockholders’ equity and cash flows of Parent
and its Restricted Subsidiaries for such Fiscal Year (with balance sheets and income statements for each of the Standby Division,
the Environmental Services Division and the Waste Disposal Division, respectively), setting forth in each case in comparative
form the corresponding figures for the previous Fiscal Year and the corresponding figures from the Financial Plan for the Fiscal
Year covered by such financial statements, in reasonable detail, together with a Financial Officer Certification and a Narrative
Report with respect thereto; and (ii) with respect to such consolidated financial statements a report thereon of Grant Thornton
LLP or other independent certified public accountants of recognized national standing selected by the Borrower Representative
reasonably acceptable to the Administrative Agent, which report shall be unqualified as to going concern and scope of audit (other
than solely with respect to, or resulting solely from (i) an upcoming maturity date under the Facilities or other Indebtedness
occurring within one year from the time such report is delivered or (ii) any potential inability to satisfy any financial maintenance
covenant on a future date or in a future period), and shall state that such consolidated financial statements fairly present,
in all material respects, the consolidated financial position of Parent and its Restricted Subsidiaries as at the dates indicated
and the results of their operations and their cash flows for the periods indicated in conformity with GAAP applied, as applicable,
on a basis consistent with prior years (except as otherwise disclosed in such financial statements); provided, all financial
statements and financial information of or with respect to periods prior to the Closing Date Contribution (including for comparative
purposes) may be of and/or in respect of the consolidated financial statements of NRC Holdings and/or Sprint Holdings, in each
case as deemed, estimated or adjusted by the Borrower Representative in good faith.

 

(c)
Compliance Certificate. Together with each delivery of financial statements pursuant to Sections 5.1(a) and 5.1(b), a duly
executed and completed Compliance Certificate, which shall include, when delivered in connection with the delivery of annual financial
statements pursuant to Section 5.1(b), either (x) an executed Pledge Supplement (as defined in the Pledge and Security Agreement),
which sets forth the information required to supplement each schedule referred to in Section 3 of the Pledge and Security Agreement
as necessary to ensure that such schedule is accurate as of the date of the delivery of such certificate or (y) a certification
confirming that there has been no change in such information since the later of the Closing Date and the date of the most recent
Pledge Supplement or certificate delivered pursuant to this subsection, as applicable, and which shall also include a list of
all Immaterial Subsidiaries that are not Guarantor Subsidiaries solely because they are Immaterial Subsidiaries and shall set
forth in reasonable detail the Consolidated Adjusted EBITDA and the amount of total consolidated assets, in each case, attributable
to each such Immaterial Subsidiary at the end of the applicable fiscal period.

 

(d)
Statements of Reconciliation after Change in Accounting Principles. If, as a result of any change in accounting principles
and policies from those used in the preparation of the Historical Financial Statements, the consolidated financial statements
of Parent and its Restricted Subsidiaries delivered pursuant to Section 5.1(a) or 5.1(b) will differ in any material respect from
the consolidated financial statements that would have been delivered pursuant to such subdivisions had no such change in accounting
principles and policies been made, then, together with the first delivery of such financial statements after such change, one
or more statements of reconciliation against the most recent such prior financial statements in form reasonably satisfactory to
the Administrative Agent.

 

    	 	110	 

     

    

 

(e)
Accountants’ Report. Promptly upon receipt thereof, copies of all final management letters submitted by the independent
certified public accountants referred to in Section 5.1(b) in connection with each annual, interim or special audit or review
of any type of the financial statements or related internal control systems of Parent and its Restricted Subsidiaries made by
such accountants.

 

(f)
Financial Plan. No later than sixty days after the beginning of each Fiscal Year (beginning with the Fiscal Year ending
December 31, 2019), a consolidated plan and financial forecast for such Fiscal Year (such plan and forecast, together with the
equivalent plan or budget for the Fiscal Year in which the Closing Date occurs, the “Financial Plan”), including
(i) a forecasted consolidated balance sheet and forecasted consolidated statements of income and cash flows of Parent and its
Restricted Subsidiaries for each such Fiscal Year and an explanation of the assumptions on which such forecasts are based and
(ii) forecasted consolidated statements of income and cash flows of Parent and its Restricted Subsidiaries for each month of such
Fiscal Year, together with an explanation of the assumptions on which such forecasts are based.

 

(g)
Annual Insurance Report. By the time of delivery of the financial statements described in Section 5.1(b) (or such later
date as is acceptable to the Administrative Agent), a certificate from the Borrowers’ insurance broker(s) in form reasonably
satisfactory to the Administrative Agent outlining all material insurance coverage maintained as of the date of such certificate
by Parent and its Restricted Subsidiaries.

 

(h)
Notices. Promptly upon any officer of Parent or the Borrowers obtaining knowledge of any of the following, a certificate
of an Authorized Officer specifying the nature and period of existence thereof, and what action the Borrowers have taken, is taking
and proposes to take with respect thereto:

 

		(i)	any Default or Event of Default;

 

		(ii)	the institution of, or non-frivolous threat in writing of, any Adverse Proceeding that, individually
or in the aggregate, could reasonably be expected to have Material Adverse Effect;

 

		(iii)	the occurrence of any ERISA Event;

 

		(iv)	any Release required to be reported to any Governmental Authority under any applicable Environmental
Laws that, individually or in the aggregate, could reasonably be expected to have Material Adverse Effect;

 

		(v)	any remedial action taken by Parent or any Restricted Subsidiary in response to (A) any Hazardous
Materials Activities the existence of which could reasonably be expected to result in one or more Environmental Claims having,
individually or in the aggregate, a Material Adverse Effect, or (B) any Environmental Claims that, individually or in the aggregate,
could reasonably be expected to have Material Adverse Effect; and

 

		(vi)	any other event or change that, individually or in the aggregate, could reasonably be expected
to have Material Adverse Effect.

  

    	 	111	 

     

    

 

(i)
Junior Financings. Promptly after the execution and delivery thereof, executed copies of any material amendment, modification,
consent or waiver in respect of any Junior Financing with an outstanding principal amount in excess of $10,000,000, and promptly
upon receipt thereof, copies of each written notice of default or event of default and any other material notice received by Parent
or any of its Restricted Subsidiaries with respect to any Junior Financing with an outstanding principal amount in excess of $10,000,000.

 

(j)
Certification of Public Information. If documents or notices required to be delivered pursuant to this Section 5.1 or otherwise
are being distributed through the Platform, not post on that portion of the Platform designated for Public Lenders any document
or notice that Parent or the Borrowers has indicated contains Non-Public Information. Each of Parent and the Borrowers agree to
clearly designate information provided to the Administrative Agent by or on behalf of Parent or the Borrowers that is suitable
to make available to Public Lenders. If Parent or the Borrowers have not indicated whether a document or notice delivered pursuant
to this Section 5.1 contains Non-Public Information, the Administrative Agent reserves the right to post such document or notice
solely on that portion of the Platform designated for Lenders who wish to receive material Non-Public Information with respect
to Parent, its Restricted Subsidiaries and any of the Securities.

 

(k)
Other Information. (i) Promptly upon their becoming available (but with respect to clause (A), (B) and (C) of this Section
5.1(k), solely after the occurrence of a Qualified IPO), copies of (A) all financial statements, reports, notices and proxy statements
sent or made available generally by Parent to its security holders acting in such capacity or by any Restricted Subsidiary of
Parent to its security holders other than Parent or another Restricted Subsidiary of Parent, (B) all regular and periodic reports
and all registration statements and prospectuses, if any, filed by Parent or any of its Restricted Subsidiaries with any securities
exchange or with the Securities and Exchange Commission or any other Governmental Authority or private regulatory authority, and
(C) all press releases and other statements made available generally by Parent or any of its Restricted Subsidiaries to the public
concerning material developments in the business of Parent or any of its Restricted Subsidiaries (including the announcement of
a SPAC Transaction), and (ii) subject to the limitations set forth in the last sentence of Section 5.7, such other information
and data with respect to Parent or any of its Restricted Subsidiaries as from time to time may be reasonably requested by the
Administrative Agent or, through the Administrative Agent, any Lender, including, without limitation, any information or documents
reasonably requested by the Administrative Agent or any Lender for purposes of compliance with applicable “know your customer”
requirements under the PATRIOT Act or under other applicable money laundering laws.

 

Documents
required to be delivered pursuant to Sections 5.1(a), 5.1(b), 5.1(d), 5.1(e), 5.1(i) or 5.1(k)(A), (B) or (C) (to the extent any
such documents are included in the materials otherwise filed with the Securities and Exchange Commission) may be delivered electronically
and shall be deemed to have been delivered on the first date (i) on which Parent, any Ultimate Parent or any Relevant Public Company
posts such documents, or provides a link thereto, on the website thereof; or (ii) on which such documents are posted on any Relevant
Public Company’s behalf on an Internet (including on EDGAR at www.sec.gov (or other successor government website that is
freely and readily available)) or intranet website, if any, to which each Lender and the Administrative Agent have access (whether
a commercial, third party website or whether sponsored by the Administrative Agent); provided that such Relevant Public Company
shall deliver paper copies of such documents to the Administrative Agent upon its request to such Relevant Public Company to deliver
such paper copies until a written request to cease delivering paper copies is given by the Administrative Agent. Following the
electronic delivery of any such documents by posting such documents to a website in accordance with the preceding sentence (other
than the posting by the Borrowers of any such documents on any website maintained for or sponsored by the Administrative Agent),
the Borrowers shall promptly provide the Administrative Agent notice of such delivery (which notice may be by facsimile or electronic
mail) and the electronic location at which such documents may be accessed. The Administrative Agent shall have no obligation to
request the delivery of or to maintain paper copies of the documents referred to above.

 

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5.2
Existence. Except as otherwise permitted under Section 6.8 or 6.9, at all times preserve and keep in full force and
effect its existence and all rights and franchises, licenses and permits material to its business; provided, Parent and
its Restricted Subsidiaries shall not be required to preserve any such existence, right or franchise, licenses and permits if
the loss thereof could not reasonably be expected to have a Material Adverse Effect.

 

5.3
Payment of Taxes and Claims. Pay all applicable Taxes imposed upon it or any of its properties or assets or in respect
of any of its income, businesses or franchises before any penalty or fine accrues thereon, and all claims (including claims for
labor, services, materials and supplies) for sums that have become due and payable and that by applicable Law have or may become
a Lien upon any of its properties or assets, prior to the time when any penalty or fine shall be incurred with respect thereto;
provided, no such Tax or claim need be paid if (a) it is being contested in good faith by appropriate proceedings promptly
instituted and diligently conducted, so long as reserves or other appropriate provisions, as shall be required in conformity with
GAAP shall have been made therefor or (b) the failure to so pay would not reasonably be expected, individually or in the aggregate,
to constitute a Material Adverse Effect. Parent and its Restricted Subsidiaries will not file or consent to the filing of any
consolidated income Tax return with any other Person (other than any Ultimate Parent Company, any Relevant Public Company or other
survivor of any SPAC Transaction or Parent or any of Parent’s Restricted Subsidiaries or Unrestricted Subsidiaries).

 

5.4
Maintenance of Properties. Maintain or cause to be maintained in good repair, working order and condition, ordinary
wear and tear and casualty and condemnation excepted, all material properties used or useful in the business of Parent and its
Restricted Subsidiaries and from time to time will make or cause to be made all appropriate repairs, renewals and replacements
thereof, except in each case where the failure to do so could not reasonably be expected to have, individually or in the aggregate,
a Material Adverse Effect.

 

5.5
Insurance.

 

(a)
Non-Vessel Insurance Requirements. Maintain or cause to be maintained, with financially sound and reputable insurers, such
public liability insurance, third party property damage insurance and casualty insurance (including, as applicable, Flood Insurance)
with respect to liabilities, losses or damage in respect of the assets, properties and businesses of Parent and its Restricted
Subsidiaries as may customarily be carried or maintained under similar circumstances by Persons of established reputation engaged
in similar businesses, in each case in such amounts (giving effect to self-insurance), with such deductibles, covering such risks
and otherwise on such terms and conditions as shall be customary for such Persons. Without limiting the generality of the foregoing,
Parent and its Restricted Subsidiaries will maintain or cause to be maintained replacement value casualty insurance on the Collateral
under such policies of insurance, with such insurance companies, in such amounts, with such deductibles, and covering such risks
as would reasonably be expected to be carried or maintained under similar circumstances by Persons of established reputation engaged
in similar businesses. Each such policy of property and/or general liability insurance shall (i) in the case of liability insurance
policies, name the Collateral Agent, on behalf of the Secured Parties, as an additional insured thereunder as its interests may
appear and (ii) in the case of each casualty insurance policy, contain a loss payable clause or endorsement, reasonably satisfactory
in form and substance to the Collateral Agent, that names the Collateral Agent, on behalf of the Secured Parties, as the loss
payee thereunder for any covered loss and provides for at least thirty days’ (or such lesser period as is reasonably acceptable
to the Administrative Agent) prior written notice to the Collateral Agent of any cancellation of such policy. If any improved
Mortgaged Property is located is designated a Special Flood Hazard Area, the applicable Credit Party shall obtain Flood Insurance.
If any improved Mortgaged Property is located in a “Zone 1” area, the applicable Credit Party shall obtain earthquake
insurance in such total amount as the Administrative Agent, the Collateral Agent or the Required Lenders from time to time reasonably
require. For the avoidance of doubt, this Section 5.5(a) does not apply to Vessels.

 

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 (b)
Vessel Insurance Requirements. With respect to Mortgaged Vessels, maintain insurance with respect to hull and machinery,
protection and indemnity risks, marine and war risks coverage, towers’ liability (for any Vessel engaged in towing operations),
pollution liability, mortgagee’s interest insurance (which shall be on customary terms providing for insurance coverage
of the Collateral Agent for loss of or damage to Mortgaged Vessels, which is covered by the Credit Parties’ insurance policies
or the Club entries, but in respect of which there is subsequent non-payment or reduced payment by the underwriters due to the
Credit Parties’ breach of any warranties or conditions of such policies), and such other or additional insurance as would
reasonably be expected to be carried or maintained under similar circumstances by prudent owners of like vessels engaged in similar
trades or service, and otherwise in accordance with the Vessel Mortgages and Assignment of Insurances.

 

5.6
Books and Records. Keep proper books of record and accounts in which full, true and correct entries in conformity in
all material respects with GAAP shall be made of all material dealings and transactions in relation to its business and activities.

 

5.7
Inspections. Permit each of the Administrative Agent, any Lender (through the Administrative Agent) and any authorized
representatives designated by the Administrative Agent to visit and inspect any of the properties of Parent and its Restricted
Subsidiaries, to inspect, copy and take extracts from its and their financial and accounting records, and to discuss its and their
affairs, finances and accounts with its and their officers and independent public accountants, all upon reasonable notice and
at such reasonable times during normal business hours and as often as may reasonably be requested and, solely with respect to
the Administrative Agent and any authorized representatives designated by it, at the Credit Parties’ expense; provided,
so long as no Event of Default has occurred and is continuing, the Credit Parties shall only be obligated to reimburse the Administrative
Agent and any such authorized representative for the expenses of one such visit and inspection per calendar year. The Administrative
Agent shall give the Borrower Representative the opportunity to participate in any discussions with the Credit Parties’
independent public accountants (and such discussions shall be subject to such accountants’ customary policies and procedures).
Notwithstanding anything to the contrary in this Section 5.7 or elsewhere in any Credit Document, no Credit Party shall be required
to (a) so long as no Event of Default has occurred and is continuing, agree to or permit any Phase I or Phase II environmental
study or other invasive environmental investigation or (b) disclose, permit the inspection, examination or making copies or abstracts
of, or discussion of, any document, information or other matter that (x) constitutes trade secrets or proprietary information,
(y) in respect of which disclosure is, in the Borrower Representative’s good faith judgment, prohibited by Law or any binding
agreement so long as such binding agreement was not entered into in contemplation of preventing such disclosure, inspection or
examination or (z) is subject to attorney-client or similar privilege or constitutes attorney work-product.

 

5.8
Lenders Meetings. Upon the request of the Administrative Agent or the Required Lenders, participate in a meeting of
the Administrative Agent and the Lenders once during each Fiscal Quarter to be held at a location (or which may be held telephonically)
and at a time as is agreed to by the Borrower Representative and the Administrative Agent.

 

5.9
Compliance with Laws.

 

(a)
Generally. Comply with the requirements of all applicable Laws (including all Environmental Laws), except for any noncompliance
which would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect.

 

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 (b)
Anti-Terrorism Laws. Comply in all material respects with all Anti-Terrorism Laws applicable thereto.

 

(c)
Anti-Corruption Laws, AML Laws and Sanctions. Maintain in effect and enforce policies and procedures intended to ensure
compliance by Parent, its Restricted Subsidiaries and their respective directors, officers, employees and agents (in each such
Person’s capacity as such) with Anti-Corruption Laws, applicable AML Laws and applicable Sanctions.

 

5.10
Environmental. Promptly take any and all actions necessary to (a) cure any violation of applicable Environmental Laws
by such Person or its Restricted or Unrestricted Subsidiaries that could reasonably be expected to have, individually or in the
aggregate, a Material Adverse Effect, and (b) make an appropriate response to any Environmental Claim against such Person or any
of its Restricted or Unrestricted Subsidiaries and discharge any obligations it may have to any Person thereunder where failure
to do so could reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect.

 

5.11
Subsidiaries. Within 30 days (or such longer period as is acceptable to the Administrative Agent) after the date (subsequent
to the date hereof) any Person becomes, directly or indirectly, a Restricted Subsidiary, the Borrower Representative shall:

 

(a)
Notice to Administrative Agent. Promptly send to the Administrative Agent written notice setting forth with respect to
such Person (i) the date on which such Person became a Restricted Subsidiary, and (ii) the data required to be set forth in Schedules
4.1 and 4.2 with respect to all Restricted Subsidiaries of Parent, which written notice shall be deemed to supplement Schedules
4.1 and 4.2 for all purposes hereof;

 

(b)
Counterpart Agreement. Other than with respect to an Excluded Subsidiary, promptly cause such Restricted Subsidiary to
become a Guarantor hereunder and a Grantor under the Pledge and Security Agreement by executing and delivering to the Administrative
Agent and the Collateral Agent a Counterpart Agreement;

 

(c)
Corporate Documents. Other than with respect to an Excluded Subsidiary, take all such corporate (or equivalent) actions,
and execute and deliver, or cause to be executed and delivered, all such applicable documents, instruments, agreements, and certificates
in respect of such new Restricted Subsidiary reasonably requested by the Administrative Agent as are similar to those described
in Section 3.1(b);

 

(d)
Collateral Documents. Other than with respect to an Excluded Subsidiary, in each case to the extent reasonably requested
by the Administrative Agent, (x) comply with Section 5.16 with respect to any Material Vessels and (y) deliver all such applicable
documents, instruments, agreements, and certificates in respect of such new Restricted Subsidiary and its Collateral as are similar
to those described in Section 3.1(g)(i) through (vi), inclusive, and take the actions referred to in Section 3.1(g)(i) through
(vi), inclusive, necessary to grant and to perfect a First Priority Lien in favor of the Collateral Agent, for the benefit of
the Secured Parties, under the Pledge and Security Agreement (but subject to any limitations set forth therein) in the Equity
Interests of such Restricted Subsidiary and in substantially all of the personal property of such Restricted Subsidiary (other
than Vessels and Excluded Assets), in each case, for the avoidance of doubt, in form and substance reasonably satisfactory to
the Administrative Agent and the Collateral Agent;

 

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(e)
Foreign Subsidiary Holding Companies and Foreign Subsidiaries. With respect to each Restricted Subsidiary that is a Foreign
Subsidiary Holding Company or a Foreign Subsidiary that is a Controlled Foreign Corporation and, in either case, a direct Subsidiary
of a Credit Party, the applicable Credit Party shall deliver all such applicable documents, instruments, agreements, and certificates
as are similar to those described in Section 3.1(g)(iii) and (v), and take all of the actions referred to in Section 3.1(g)(iii)
and (v) necessary, to grant and to perfect a First Priority Lien in favor of the Collateral Agent, for the benefit of the Secured
Parties, under the Pledge and Security Agreement (but subject to any limitations set forth therein and other than any Excluded
Assets) in 65% of each class of the Equity Interests of such Foreign Subsidiary Holding Company or Foreign Subsidiary entitled
to vote (within the meaning of Treas. Reg. Sec. 1.956-2(c)(2)) and 100% of each class of the Equity Interests not entitled to
vote (within the meaning of Treas. Reg. Sec. 1.956-2(c)(2)) of such Foreign Subsidiary Holding Company or Foreign Subsidiary;
provided, the Credit Parties and their Subsidiaries shall have ninety days (or such longer period as the Administrative
Agent may reasonably agree in its sole discretion) after the date on which any Person becomes a Subsidiary of Parent to deliver
documents of the type referred to in Section 3.1(g)(iii) and (v). Nothing in this Section 5.11(e) shall be interpreted to require
Parent, the Borrower Representative or any other Subsidiary of Parent to cause such Foreign Subsidiary Holding Company or Foreign
Subsidiary to authorize and issue new Equity Interests or to otherwise recapitalize the existing Equity Interests of such Foreign
Subsidiary Holding Company or Foreign Subsidiary; and

 

(f)
Foreign Assets. Notwithstanding anything to the contrary, the Credit Parties shall not be required, nor shall the Collateral
Agent be authorized to take, any action in any jurisdiction outside of the United States to create or perfect any security interest
with respect to any assets located outside of the United States (it being understood that there shall be no security agreements
or pledge agreements governed under the laws of any jurisdiction outside the United States).

 

5.12
Material Real Estate Assets.

 

(a)
With respect to each Real Estate Asset listed in Schedule 5.12 (each, a “Closing Date Mortgaged Property”),
within 90 days of the Closing Date (or such later date as may be agreed by the Collateral Agent in its sole reasonable discretion),
and with respect to any other Material Real Estate Asset owned by a Credit Party after the Closing Date, within 90 days of such
Real Estate Asset becoming a Material Real Estate Asset (or such later date as may be agreed by the Collateral Agent in its sole
discretion), the Borrowers or the applicable Credit Party shall execute and/or deliver, or cause to be executed and/or delivered,
to the Collateral Agent, for each such Material Real Estate Asset, the following, each to the extent reasonably requested by,
and in form and substance reasonably satisfactory to, the Collateral Agent:

 

		(i)	to the extent an appraisal is required under FIRREA, an appraisal complying with FIRREA;

 

		(ii)	a fully executed and acknowledged Mortgage in form suitable for filing or recording in all filing
or recording offices that the Collateral Agent may reasonably deem necessary or desirable in order to create a valid and enforceable
first priority Lien (subject only to Permitted Encumbrances) on the Mortgaged Property described therein in favor of the Collateral
Agent;

 

		(iii)	an ALTA or TLTA, as applicable, Title Policy issued by a title insurer reasonably satisfactory
to the Administrative Agent, in form and substance reasonably satisfactory to the Administrative Agent and in an amount at least
equal to the Fair Market Value of such Mortgaged Property or such lesser amount as reasonably determined by the Administrative
Agent, insuring that the Mortgage is a valid and enforceable First Priority Lien on the respective property;

  

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		(iv)	a then current ALTA survey in respect of such Mortgaged Property, certified to the Collateral Agent
by a licensed surveyor, or an update to an existing ALTA survey or an existing ALTA survey with a “no change” affidavit
sufficient to allow the issuer of the Title Policy to issue such policy without a survey exception;

 

		(v)	(A) a completed “Life of Loan” standard flood hazard determination form as to any improved
Mortgaged Property, (B) if the improvements located on a Mortgaged Property are located in a Special Flood Hazard Area, a notification
to the Borrower Representative (a “Flood Notice”) and (if applicable) notification to the Borrower Representative
that flood insurance coverage under the NFIP is not available because the community in which the Mortgaged Property is located
does not participate in the NFIP, and (C) if the Flood Notice is required to be given (x) documentation evidencing the Borrowers’
receipt of the Flood Notice (e.g., a countersigned Flood Notice) and (y) evidence of Flood Insurance as required by Section 5.5;
provided, each Lender shall also have the right to make the determination, give the notices and receive the documentation
and evidence, in each case, as referred to in this clause (v);

 

		(vi)	a customary zoning report or municipal zoning letter providing that the continued operation of
the properties and assets as currently conducted conforms with all applicable zoning and building laws, rules or regulations or
a zoning endorsement to the applicable Title Policy; provided that, so long as no zoning and building laws, rules or regulations
are in effect with respect to the Closing Date Mortgaged Property, no zoning report, zoning letter or zoning endorsement to any
Title Policy will be required with respect to the Closing Date Mortgaged Property;

 

		(vii)	an opinion of local counsel in each state in which such Mortgaged Property is located with respect
to the enforceability of the form of Mortgage to be recorded in such state and such other matters as are customary; and

 

		(viii)	at the Administrative Agent’s reasonable request, an environmental site assessment prepared
by a qualified firm reasonably acceptable to the Administrative Agent, in form reasonably satisfactory to the Administrative Agent.

 

(b)
In addition to the obligations set forth in Section 5.12(a), within forty-five (45) days after written notice from the Administrative
Agent to the Borrower Representative that any Mortgaged Property which was not previously located in an area designated as a Special
Flood Hazard Area has been redesignated as a Special Flood Hazard Area (or such later date as may be agreed to by the Administrative
Agent in its sole discretion), the Credit Parties shall satisfy the Flood Insurance requirements of Section 5.5.

 

(c)
From time to time (but absent the occurrence and continuance of an Event of Default, no more than once with respect to any Material
Real Estate Asset in any 365 day period), if the Administrative Agent reasonably determines that obtaining appraisals for any
Material Real Estate Asset is necessary in order for the Administrative Agent or any Lender to comply with applicable laws or
regulations (including any appraisals required to comply with FIRREA), and at any time if an Event of Default shall have occurred
and be continuing, the Administrative Agent may, or may require the Borrowers to, in either case at the Borrowers’ expense,
obtain appraisals in form and from appraisers reasonably satisfactory to the Administrative Agent stating the then current Fair
Market Value of all or any portion of any material personal property of the Credit Parties (taken as a whole) and the Fair Market
Value or such other value as reasonably required by the Administrative Agent (for example, replacement cost for purposes of Flood
Insurance) of any Material Real Estate Asset of any Credit Party.

 

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5.13
Unrestricted Subsidiaries.

 

(a)
Parent may at any time after the Closing Date, designate a Subsidiary as an Unrestricted Subsidiary, or designate any Restricted
Subsidiary as an Unrestricted Subsidiary or any Unrestricted Subsidiary as a Restricted Subsidiary; provided:

 

		(i)	immediately before and after giving effect to such designation, no Default or Event of Default
shall have occurred and be continuing;

 

		(ii)	immediately after giving effect to such designation on a Pro Forma Basis, in each case, for the
most recently ended Test Period, Parent shall be in compliance with the Financial Condition Covenant (whether or not then in effect);

 

		(iii)	no Unrestricted Subsidiary shall own any Equity Interests in Parent, the Borrowers or any of Parent’s
other Restricted Subsidiaries;

 

		(iv)	no Unrestricted Subsidiary shall hold any Indebtedness of, or any Lien on any property of Parent,
the Borrowers or any of Parent’s other Restricted Subsidiaries;

 

		(v)	no Subsidiary may be designated as an Unrestricted Subsidiary if (x) after such designation, it
would be a “restricted subsidiary” (or similar designation) for the purpose of any Junior Financing or (y) it owns
Material Intellectual Property utilized in the business of Parent and its Restricted Subsidiaries; and

 

		(vi)	no Restricted Subsidiary may be designated an Unrestricted Subsidiary if it was previously designated
an Unrestricted Subsidiary.

  

(b)
The designation of any Subsidiary as an Unrestricted Subsidiary after the Closing Date shall constitute an Investment by the Borrowers
therein at the date of designation in an amount equal to the Fair Market Value of such Investment, and each such Investment shall
be subject to Section 6.6.

 

(c)
The designation of any Unrestricted Subsidiary as a Restricted Subsidiary shall constitute (i) the incurrence by the Borrowers
at the time of such designation of any Indebtedness, Liens or Investment of such Subsidiary existing at such time, subject, in
each case, to Sections 6.1, 6.2, and 6.6, as applicable, and (ii) a Return on any Investment by the Borrowers in such Subsidiary
in an amount equal to the Fair Market Value at the date of such designation of such Investment.

 

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5.14
Ratings. Use commercially reasonable efforts to maintain (a) a public corporate credit rating (but not any specific
rating) from S&P and a public corporate family rating (but not any specific rating) from Moody’s, in each case, in respect
of Parent (or, upon and after a SPAC Transaction, the public company survivor thereof), and (b) a public rating (but not any specific
rating) in respect of each Class of Term Loans from each of S&P and Moody’s, unless a given Class has waived the requirement
to maintain any rating for such Class at the time of establishment thereof pursuant to the applicable Credit Documents; provided,
in no event shall the Credit Parties be deemed to be in breach of this Section 5.14 if the Credit Parties’ failure to comply
with this Section 5.14 results solely from the non-performance of either Moody’s or S&P for whatever reason (other than
any as a result of any failure by any Credit Party to use such aforementioned commercially reasonable efforts).

 

5.15
Use of Proceeds. Use the proceeds of any Credit Extension solely in accordance with Section 2.6.

 

5.16
Certificates of Documentation; Preferred Mortgages on Vessels.

 

(a)
As to any Material Vessel owned by any Credit Party that is documented with the NVDC, under the law and flag of the United States,
except in each case as would not reasonably be expected to have a Material Adverse Effect, promptly cause to be issued annually
and maintain current and in effect a Certificate of Documentation for such Vessel with the appropriate endorsement for its respective
trade, maintain the qualification of the Vessels holding Certificates of Documentation to operate in the U.S. Coastwise Trade
and not do or permit anything to be done which might reasonably be expected to adversely affect such documentation or qualification.

 

(b)
(i) Within 60 days (or such longer period as is acceptable to the Administrative Agent) after the acquisition by any Credit Party
of any Material Vessel after the Closing Date that is or will be documented with the NVDC, under the law and flag of the United
States, and (ii) promptly after the time at which any Vessel owned by a Credit Party that was not a Material Vessel as of the
Closing Date but thereafter becomes a Material Vessel and is documented with the NVDC, under the law and flag of the United States,
grant a valid, perfected First Priority Lien on such Material Vessel in favor of the Collateral Agent, for the benefit of the
Secured Parties, by amending or supplementing an existing Vessel Mortgage or by entering into a new Vessel Mortgage with respect
to such Material Vessel, and on all related insurances, by amending an existing Assignment of Insurances or by entering into a
new Assignment of Insurances.

 

(c)
Notwithstanding anything to the contrary in this Agreement, no Vessel Mortgage shall be required on any Vessel if the Collateral
Agent in its sole but reasonable discretion determines that the cost of obtaining or perfecting such Vessel Mortgage on such Vessel
is excessive in relation to the value of the collateral afforded thereby. The Credit Parties shall reasonably cooperate with and
assist the Collateral Agent in causing the prompt recordation or registration of all Vessel Mortgages by the NVDC or other agency
with whom such Vessel Mortgage is required to be recorded or registered to create or perfect the Lien granted thereunder. In connection
with any Vessel Mortgage required pursuant to this Section 5.16, the applicable Credit Party shall deliver to the Administrative
Agent a copy of, or a certificate as to coverage under, the insurance policies required by Section 5.5(b) and the applicable provisions
of the Collateral Documents, which shall be endorsed or otherwise amended to include the loss payable clauses required under the
Assignment of Insurances and shall name the Collateral Agent, on behalf of the Secured Parties, as additional insured, shall be
otherwise in form reasonably satisfactory to the Administrative Agent.

 

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5.17
Vessel Operation and Condition.

 

(a)
Parent and each applicable Subsidiary, shall or shall cause the owner of the Material Vessels to, ensure that each of them:

 

(i)
will at all times preserve, repair and keep in thoroughly good and seaworthy repair and good order and condition the Vessels and
all machinery and equipment and appurtenances thereto up to a modern standard of usage, and maintain the same in a manner consistent
with the practices used by prudent owners of like vessels engaged in similar trades or service, except in each case where the
failure to do so could not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect;

 

(ii)
will not suffer or permit the Vessels to be used or navigated in any manner inconsistent with any of the marine insurance policies
thereon, and it shall comply and shall require the master, officers and engineers of the Vessels from time to time and at all
times to comply in all material respects with all applicable Laws and maintain all required licenses and permits in force relating
to the operation and navigation of the Vessels, except for any noncompliance or maintenance failure that would not reasonably
be expected to have, individually or in the aggregate, a Material Adverse Effect;

 

(iii)
except in each case as not prohibited herein, will not sell, mortgage or transfer any Material Vessel or any share or interest
therein, in any manner, or agree to any bareboat or demise charter of any Material Vessel, without the written consent of the
Administrative Agent (such consent not to be unreasonably withheld, conditioned or delayed), and any such written consent to any
one mortgage, transfer or charter shall not be construed to be a waiver of this provision in respect of any subsequent mortgage,
transfer or charter;

 

(iv)
subject to the limitations set forth in the last sentence of Section 5.7, will provide the Administrative Agent promptly with
such information as is reasonably requested by the Administrative Agent regarding the Material Vessels, their location and employment,
the particulars of all tonnages and copies of all bareboat or demise charters, provided, that so long as no Event of Default
has occurred and is continuing, such information shall only be required to be provided to the Administrative Agent one time in
any calendar year; and

 

(v)
subject to the limitations set forth in the last sentence of Section 5.7, will permit Administrative Agent or its authorized representative,
whenever reasonably requested by Administrative Agent upon reasonable prior notice, to review the survey files of each Material
Vessel.

 

5.18
Further Assurances. At any time or from time to time upon the request of the Administrative Agent, each Credit Party
will, at its expense, promptly execute, acknowledge and deliver such further documents and do such other acts and things as the
Administrative Agent or the Collateral Agent may reasonably request in order to effect fully the purposes of the Credit Documents.
In furtherance and not in limitation of the foregoing, each Credit Party shall take such actions as the Administrative Agent or
the Collateral Agent may reasonably request from time to time to ensure that the Obligations are guaranteed by the Guarantors
and are secured by substantially all of the assets of Parent, and its Restricted Subsidiaries and all of the outstanding Equity
Interests of the Borrowers and Parent’s Restricted Subsidiaries (in each case other than Excluded Assets and the limitations
contained in the Credit Documents with respect to Foreign Subsidiary Holding Companies and Foreign Subsidiaries).

 

5.19
Post-Closing Obligations. Execute and deliver the documents, and complete the tasks, in each case, as set forth on
Schedule 5.19 within the applicable time limits specified on such schedule, or in each case, such later date as may be agreed
by the Administrative Agent in its sole discretion. All conditions precedent, representations and warranties and covenants contained
in this Agreement and the other Credit Documents shall be deemed modified to the extent necessary to effect the foregoing (and
to permit the taking of the actions described above within the time periods required above, rather than as elsewhere provided
in the Credit Documents).

 

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SECTION
6 NEGATIVE COVENANTS

 

So
long as any Commitment is in effect and until payment in full of all Obligations (other than Remaining Obligations) and cancellation,
expiration or Cash Collateralization of all Letters of Credit, no Credit Party shall, nor shall it permit any of its Restricted
Subsidiaries to:

 

6.1
Indebtedness. Create, incur, assume or guaranty, or otherwise become or remain directly or indirectly liable with respect
to any Indebtedness, except:

 

(a)
the Obligations, including any Incremental Facilities, Extended Revolving Loans and Extended Term Loans and any Incremental Equivalent
Debt (and any Permitted Refinancing thereof);

 

(b)
Indebtedness that may be deemed to exist pursuant to any guarantees, performance, completion, bid, surety, statutory, appeal or
similar obligations (but not with respect to letters of credit) incurred in the ordinary course of business or in respect of workers’
compensation claims, health, disability or other employee benefits or property, casualty or liability insurance or self-insurance
or other Indebtedness with respect to reimbursement-type obligations regarding workers’ compensation claims;

 

(c)
Indebtedness arising in the ordinary course of business in connection with netting services, overdraft protections and otherwise
in connection with deposit, securities, commodities accounts and other Cash Management Products;

 

(d)
Indebtedness arising from the honoring by a bank or other financial institution of a check, draft or similar instrument drawn
against insufficient funds in the ordinary course of business; provided, such Indebtedness is extinguished within five
(5) Business Days after its incurrence (or such longer period as is acceptable to the Administrative Agent);

 

(e)
Indebtedness consisting of unpaid insurance premiums (not in excess of one year’s premiums) owing to insurance companies
and insurance brokers incurred in connection with the financing of insurance premiums in the ordinary course of business;

 

(f)
(i) guarantees in the ordinary course of business of the obligations of suppliers, customers, franchisees and licensees of the
Borrowers and their Restricted Subsidiaries, (ii) to the extent constituting Indebtedness, take-or-pay obligations contained in
supply arrangements and (iii) Indebtedness representing deferred compensation to employees of any Restricted Subsidiary incurred
in the ordinary course of business;

 

(g)
endorsements for collection, deposit or negotiation and warranties of products or services, in each case incurred in the ordinary
course of business;

 

(h)
Indebtedness arising as a direct result of judgments, orders, awards or decrees against Parent or any of its Restricted Subsidiaries,
in each case not constituting an Event of Default;

 

(i)
unsecured Indebtedness representing any Taxes to the extent such Taxes are being contested by Parent or any of its Restricted
Subsidiaries in good faith by appropriate proceedings and reserves are being maintained by the applicable Person in accordance
with GAAP;

 

(j)
unsecured Indebtedness of Parent to the Borrowers and Parent’s other Restricted Subsidiaries at such times and in such amounts
necessary to permit Parent to receive any Restricted Payment permitted to be made to Parent pursuant to Section 6.4, so long as,
as of the applicable date of determination, a Restricted Payment for such purposes would otherwise be permitted to be made pursuant
to Section 6.4; provided, any such Indebtedness shall be deemed to utilize on a dollar-for-dollar basis the relevant basket
under Section 6.4;

 

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(k)
to the extent constituting Indebtedness, unsecured Indebtedness due to the Sponsor on the account of the accrual of advisory fees
and/or other fees and amounts under the Management Agreement not permitted to be paid in cash pursuant to Section 6.11(e);

 

(l)
Indebtedness of the Borrowers and their Restricted Subsidiaries (i) under Swap Contracts and not for speculative purposes or (ii)
under Cash Management Obligations incurred in the ordinary course of business;

 

(m)
Indebtedness consisting of promissory notes issued by Parent, any Relevant Public Company or any Restricted Subsidiaries to current
or former officers, managers, consultants, directors and employees (in each case of any of the foregoing), their respective estates,
spouses or former spouses to finance the purchase or redemption of Equity Interests of the Borrowers, the Holding Companies, Parent,
any Relevant Public Company or any Ultimate Parent Company permitted by Section 6.4; provided, such Indebtedness shall
be subordinated in right of payment to the payment in full of the Obligations (other than Remaining Obligations) under the Credit
Documents pursuant to terms reasonably satisfactory to the Administrative Agent;

 

(n)
Indebtedness of Parent or any Restricted Subsidiary owing to Parent or another Restricted Subsidiary, including any guarantees
of Indebtedness of such other Person, in each case, to the extent permitted as an Investment pursuant to Section 6.6; provided,
(i) any such Indebtedness owing by a Credit Party to a non-Credit Party shall be unsecured and subordinated in right of payment
to the payment in full of the Obligations (other than Remaining Obligations) under the Credit Documents pursuant to terms reasonably
satisfactory to the Administrative Agent, (ii) if the Indebtedness that is guaranteed is unsecured or contractually subordinated
to the Obligations under the Credit Documents, then such guaranty shall also be unsecured or contractually subordinated to the
Obligations under the Credit Documents, and (iii) no guarantee by a Restricted Subsidiary of any Indebtedness constituting Junior
Financing shall be permitted unless such Restricted Subsidiary shall have also provided a guarantee of the Obligations under the
Credit Documents on the terms set forth herein;

 

(o)
Indebtedness incurred by Parent and its Restricted Subsidiaries in a Permitted Acquisition, any other Investment permitted hereunder
(including through a merger or consolidation) or any disposition permitted hereunder, in each case, constituting indemnification
obligations or adjustment of purchase price (but excluding Earn-out Indebtedness or Seller Notes);

 

(p)
Indebtedness described on Schedule 6.1 (and, in each case, any Permitted Refinancing thereof);

 

(q)
Indebtedness of Restricted Subsidiaries with respect to Capital Leases and Purchase Money Indebtedness (and, in each case, any
Permitted Refinancing thereof), in each case, incurred prior to or within 180 days after the acquisition, construction, lease,
repair or improvement of the applicable asset in an aggregate amount not to exceed the greater of $25,000,000 and 33% of Consolidated
Adjusted EBITDA for the most recently ended Test Period at any time outstanding for all such Persons;

 

(r)
Indebtedness of Restricted Subsidiaries in an aggregate amount not to exceed at any time the greater of $20,000,000 and 27% of
Consolidated Adjusted EBITDA for the most recently ended Test Period; provided, the aggregate principal amount of all Indebtedness
for all Restricted Subsidiaries that are not Credit Parties outstanding in reliance on this Section 6.1(r) and/or on Sections
6.1(s) and Section 6.1(t)(vi) shall not at any one time exceed the greater of $15,000,000 and 20% of Consolidated Adjusted EBITDA
for the most recently ended Test Period;

 

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(s)
Indebtedness of Restricted Subsidiaries assumed or acquired (but not incurred) in connection with any Permitted Acquisition or
other Investment permitted hereunder (and any Permitted Refinancing thereof); provided:

 

		(i)	such Indebtedness was not incurred in contemplation of such acquisition or Investment;

 

		(ii)	if such Indebtedness is secured and acquired or assumed by a Credit Party, the obligations of such
Credit Party thereunder shall not be secured by any assets of such Credit Party that are not Collateral; and

 

		(iii)	the aggregate principal amount of all Indebtedness for all Restricted Subsidiaries that are not
Credit Parties outstanding in reliance on this Section 6.1(s) and/or on Sections 6.1(r) and 6.1(t)(vi) shall not at any one time
exceed the greater of $15,000,000 and 20% of Consolidated Adjusted EBITDA for the most recently ended Test Period;

  

(t)
Indebtedness of Restricted Subsidiaries in an unlimited amount; provided:

 

		(i)	(A) if such Indebtedness is in connection with a Limited Condition Acquisition, (x) no Event of
Default shall exist at the time of the signing of the applicable acquisition agreement and (y) no Event of Default under Sections
8.1(a), 8.1(f) or 8.1(g) shall exist immediately before and immediately after giving effect to the incurrence of such Indebtedness,
or (B) if such Indebtedness is not in connection with a Limited Condition Acquisition, no Event of Default shall exist immediately
before or immediately after giving effect to the incurrence of such Indebtedness;

 

		(ii)	such Indebtedness (A) shall have a final scheduled maturity date no earlier than the then-final
scheduled maturity date of the Term Loans with the latest Maturity Date then in effect or (B) shall have a Weighted Average Life
to Maturity that is equal to or greater than the then remaining Weighted Average Life to Maturity of the Term Loans with the latest
Maturity Date then in effect; provided, if such Indebtedness is contractually junior in right of Collateral or payment to
the Obligations, it will not mature (and no scheduled payment, redemption or sinking fund or similar payments or obligations will
be permitted) prior to 91 days after the latest Maturity Date existing at the time of the incurrence thereof;

 

		(iii)	such Indebtedness may not be voluntarily or mandatorily prepaid prior to repayment in full of the
Obligations (other than Remaining Obligations), unless accompanied by at least a ratable payment of the then existing Obligations
owing hereunder (or, if contractually junior in right of payment or as to security, on a junior basis with respect to such then
existing Obligations);

  

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		(iv)	(x) if such Indebtedness is secured by Liens on the Collateral on a pari passu basis with the Obligations,
the Consolidated First Lien Net Leverage Ratio as of the last day of the most recently ended Test Period shall not exceed the Closing
Date Consolidated First Lien Net Leverage Ratio, (y) if such Indebtedness is contractually junior in right of security with the
Obligations, the Consolidated Secured Net Leverage Ratio as of the last day of the most recently ended Test Period shall not exceed
4.40:1.00 and (z) if such Indebtedness is unsecured, the Consolidated Total Net Leverage Ratio as of the last day of the most recently
ended Test Period shall not exceed 4.65:1.00; provided, the Borrowers may select utilization under clauses (i), (ii) or
(iii) above in their sole discretion.

 

		(v)	if secured, such Indebtedness shall not be secured by property other than Collateral, and the lenders
or investors providing such Indebtedness (or a representative acting on their behalf) shall have entered into an Intercreditor
Agreement reasonably satisfactory to the Administrative Agent;

 

		(vi)	the aggregate principal amount of all Indebtedness for all Restricted Subsidiaries that are not
Credit Parties outstanding in reliance on this Section 6.1(t)(vi) and/or on Sections 6.1(r) and Section 6.1(s) shall not at any
one time exceed the greater of $15,000,000 and 20% of Consolidated Adjusted EBITDA for the most recently ended Test Period;

 

		(vii)	if such Indebtedness is secured on a pari passu basis with the Obligations, it shall be subject
to the MFN Protection as though such Indebtedness is an Incremental Term Loan hereunder; and

 

		(viii)	except as otherwise expressly set forth herein or as contemplated above in this clause (t), the
other terms of such Indebtedness (excluding pricing, interest, fees and premiums, optional prepayment and redemption terms thereof)
shall be, when taken as a whole, not materially more favorable (as reasonably determined by the Borrower Representative) to the
lenders or holders providing such Indebtedness than those applicable to the Term Loans having the latest Maturity Date existing
at the time of such incurrence, except to the extent (A) such terms are added to the Credit Documents for the benefit of the Lenders
pursuant to an amendment hereto or thereto subject solely to the reasonable satisfaction of the Administrative Agent or (B) applicable
solely to periods after the latest Maturity Date existing at the time of the incurrence thereof;

  

(u)
Indebtedness issued, incurred or otherwise obtained (including by means of the extension or renewal of existing Indebtedness)
(each, a “Permitted Refinancing”) in exchange for, or to extend, renew, replace, repurchase, retire or refinance,
in whole or part, any Incremental Equivalent Debt or any Indebtedness referenced in Section 6.1(p), 6.1(q), 6.1(s) or 6.1(t) or
this Section 6.1(u); provided:

 

		(i)	(A) if such refinancing Indebtedness is in connection with a Limited Condition Acquisition, (x)
no Event of Default shall exist at the time of the signing of the applicable acquisition agreement and (y) no Event of Default
under Sections 8.1(a), 8.1(f) or 8.1(g) shall exist immediately before and immediately after giving effect to the incurrence of
such Indebtedness, or (B) if such refinancing Indebtedness is not in connection with a Limited Condition Acquisition, no Event
of Default shall exist immediately before or immediately after giving effect to the incurrence of such Indebtedness;

  

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		(ii)	such Indebtedness shall not have a greater principal amount than the principal amount (including
accreted value, if applicable) of the Indebtedness being extended, renewed, replaced, repurchased, retired or refinanced thereby
plus accrued interest, fees, premiums (if any) and penalties thereon and other amounts owing or paid in connection with,
and fees and expenses associated with, the extension, renewal, replacement, repurchase, retirement or refinancing, plus
an amount equal to any existing commitments unutilized thereunder;

 

		(iii)	the Indebtedness being extended, renewed, replaced, repurchased, retired or refinanced thereby
shall be repaid, repurchased, retired, defeased or satisfied and discharged, and all accrued interest, fees, premiums (if any)
and penalties in connection therewith due at such time shall be paid, on or by the date such refinancing Indebtedness is issued,
incurred or obtained;

 

		(iv)	at the time of incurrence of such refinancing Indebtedness, such refinancing Indebtedness shall
not be incurred or guaranteed by any Person other than a Person that, at such time, is an obligor or guarantor of the Indebtedness
being extended, renewed, replaced, repurchased, retired or refinanced thereby;

 

		(v)	at the time of incurrence of such refinancing Indebtedness, (A) if such refinancing Indebtedness
is secured, such refinancing Indebtedness shall not be secured by property other than property securing, at such time, the Indebtedness
being extended, renewed, replaced, repurchased, retired or refinanced thereby, and, if applicable, any after-acquired property
that is affixed or incorporated into such assets and the proceeds and products thereof or (B) if the Indebtedness being extended,
renewed, replaced, repurchased, retired or refinanced thereby is unsecured, such refinancing Indebtedness shall also be unsecured;

 

		(vi)	other than Indebtedness referenced in Sections 6.1(q) and 6.1(s), such Indebtedness (A) shall have
a final scheduled maturity date no earlier than the then final schedule maturity date of the Indebtedness being extended, renewed,
replaced, repurchased, retired or refinanced thereby and (B) shall have a Weighted Average Life to Maturity of the Indebtedness
being extended, renewed, replaced, repurchased, retired or refinanced thereby (excluding the effects of nominal amortization in
the amount of no greater than one percent per annum of the original stated principal amount of such Indebtedness on the date of
incurrence thereof); and

 

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		(vii)	solely with respect to Indebtedness referenced in Section 6.1(t) and any Indebtedness that is expressly
contractually subordinated in right of payment to the Obligations under the Credit Documents, and except as otherwise expressly
set forth herein or as contemplated above, the other terms of such Indebtedness (excluding pricing, interest, fees and premiums,
optional prepayment and redemption terms thereof) shall be, when taken as a whole, no more favorable (as reasonably determined
by the Administrative Agent) to the lenders or holders providing such Indebtedness than those applicable to the Term Loans having
the latest Maturity Date existing at the time of such incurrence, except to the extent (A) such terms are added to the Credit Documents
for the benefit of the Lenders pursuant to an amendment hereto or thereto subject solely to the reasonable satisfaction of the
Administrative Agent or (B) applicable solely to periods after the latest Maturity Date existing at the time of such incurrence.

 

(v)
Indebtedness (“Permitted Credit Agreement Refinancing Indebtedness”) issued, incurred or otherwise obtained
(including by means of the extension or renewal of existing Indebtedness) in exchange for, or to extend, renew, replace, repurchase,
retire or refinance, in whole or part, any Class of existing Term Loans or any existing Revolving Loans (or unused Revolving Credit
Commitments), or any then-existing Permitted Credit Agreement Refinancing Indebtedness, and constituting any of the following:
(A) secured Indebtedness (“Permitted Pari Passu Refinancing Indebtedness”) in the form of one or more series
of senior secured notes that is secured by the Collateral on a pari passu basis to the Liens securing the Obligations and the
obligations in respect of any Permitted Pari Passu Refinancing Indebtedness, including any Registered Equivalent Notes issued
in exchange therefor; (B) secured Indebtedness in the form of one or more series of secured notes or secured loans that is secured
by the Collateral on a junior priority basis to the Liens securing the Obligations and the obligations in respect of any Permitted
First Priority Refinancing Indebtedness, including any Registered Equivalent Notes issued in exchange therefor; (C) unsecured
Indebtedness in the form of one or more series of senior unsecured notes or loans, including any Registered Equivalent Notes issued
in exchange therefor; and (D) Permitted Refinancing Commitments and Permitted Refinancing Loans incurred pursuant to a Permitted
Refinancing Amendment; provided:

 

		(i)	any incurrence of Permitted Credit Agreement Refinancing Indebtedness shall be in an aggregate
principal amount that is not less than $25,000,000 (or, if the then outstanding principal amount of such Class of existing Term
Loans or any existing Revolving Loans (or unused Revolving Credit Commitments), or any then-existing Permitted Credit Agreement
Refinancing Indebtedness, in each case, is less than $25,000,000, the entire outstanding principal amount thereof), and an integral
multiple of $1,000,000 in excess thereof;

 

		(ii)	such Indebtedness shall not have a greater principal amount than the principal amount (including
accreted value, if applicable) of the Indebtedness being extended, renewed, replaced, repurchased, retired or refinanced thereby
plus accrued interest, fees, premiums (if any) and penalties thereon and other reasonable amounts paid thereon or incurred
in connection therewith, and fees and expenses associated with the extension, renewal, replacement, repurchase, retirement or refinancing,
plus an amount equal to any existing commitments unutilized thereunder;

 

		(iii)	the Indebtedness being extended, renewed, replaced, repurchased, retired or refinanced thereby
shall be repaid, repurchased, retired, defeased or satisfied and discharged, and all accrued interest, fees, premiums (if any)
and penalties in connection therewith due at such time shall be paid, on the date such Indebtedness is issued, incurred or obtained;

  

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		(iv)	such Indebtedness shall not at any time be incurred or guaranteed by any Person other than a Credit
Party;

 

		(v)	if secured, such Indebtedness shall not be secured by property other than Collateral, and, if applicable,
any after-acquired property that is affixed or incorporated into such assets and the proceeds and products thereof, and the lenders
or holders of such Indebtedness (or a representative acting on their behalf) shall have entered into an Intercreditor Agreement
reasonably satisfactory to the Administrative Agent and the Borrower Representative;

 

		(vi)	such Indebtedness (I) shall have a final scheduled maturity date no earlier than the then-final
scheduled maturity date of the Indebtedness being extended, renewed, replaced, repurchased, retired or refinanced thereby and (II)
shall have a Weighted Average Life to Maturity that is equal to or greater than the then remaining Weighted Average Life to Maturity
of the Indebtedness being extended, renewed, replaced, repurchased, retired or refinanced thereby (excluding the effects of nominal
amortization in the amount of no greater than one (1) percent per annum of the original stated principal amount of such Indebtedness
on the date of incurrence thereof); provided, if such Indebtedness is contractually junior in right of Collateral or payment
to the Obligations, it will not mature (and no scheduled payment, redemption or sinking fund or similar payments or obligations
will be permitted) prior to 91 days after the latest Maturity Date existing at the time of the incurrence thereof;

 

		(vii)	such Indebtedness may not be voluntarily or mandatorily prepaid prior to repayment in full of the
Obligations (other than Remaining Obligations), unless accompanied by at least a ratable payment of the then existing Obligations
owing hereunder (or, if contractually junior in right of payment or as to security, on a junior basis with respect to such Obligations);
and

 

		(viii)	except as otherwise expressly set forth herein or contemplated above, the other terms of such Indebtedness
(excluding pricing, interest, fees and premiums, optional prepayment and redemption terms thereof) shall be, when taken as a whole,
not materially more favorable (as reasonably determined by the Borrower Representative) to the lenders or holders providing such
Indebtedness than those applicable to the Term Loans having the latest Maturity Date existing at the time of such incurrence, except
to the extent (A) such terms are added to the Credit Documents for the benefit of the Lenders pursuant to an amendment hereto or
thereto subject solely to the reasonable satisfaction of the Administrative Agent or (B) applicable solely to periods after the
latest Maturity Date existing at the time of the incurrence thereof; and

  

(w)
all premiums (if any), interest (including post-petition interest), fees, expenses, charges and additional contingent interest
on obligations described in any of clauses (a) through (v) above.

 

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For
purposes of determining compliance with any restriction on the incurrence of Indebtedness, the principal amount of Indebtedness
denominated in a foreign currency shall be calculated based on the relevant currency exchange rate in effect on the date such
Indebtedness was incurred, in the case of term debt, or first committed, in the case of revolving credit debt; provided that if
such Indebtedness is incurred to extend, replace, refund, refinance, renew or defease other Indebtedness denominated in a foreign
currency, and such extension, replacement, refunding, refinancing, renewal or defeasance would cause the applicable restriction
to be exceeded if calculated at the relevant currency exchange rate in effect on the date of such extension, replacement, refunding,
refinancing, renewal or defeasance, such restriction shall be deemed not to have been exceeded so long as the principal amount
of such refinancing Indebtedness does not exceed the principal amount of such Indebtedness being extended, replaced, refunded,
refinanced, renewed or defeased.

 

For
purposes of determining compliance with this Section 6.1, if an item of Indebtedness meets the criteria of more than one of the
categories of Indebtedness (or any portion thereof) described in Sections 6.1(a) through 6.1(y), for the avoidance of doubt the
Borrower Representative may, in its sole discretion, divide, classify and reclassify and later redivide and reclassify such item
of Indebtedness (or any portion thereof) in any manner that complies with this Section 6.1 and will be entitled to include the
amount and type of such Indebtedness in any one or more of the above clauses as it so elects and such Indebtedness will be treated
as being incurred or existing pursuant to only such clause or clauses (or any portion thereof); provided that all Indebtedness
outstanding under the Credit Documents will be deemed to have been incurred in reliance only on Section 6.1(a).

 

The
accrual of interest, the accretion of accreted value and the payment of interest in the form of additional Indebtedness shall
not be deemed to be an incurrence of Indebtedness for purposes of this Section 6.1.

 

6.2
Liens. Create, incur, assume or permit to exist any Lien on or with respect to any property or asset of any kind (including
any document or instrument in respect of goods or accounts receivable) of Parent or any of its Restricted Subsidiaries, whether
now owned or hereafter acquired, or any income or profits therefrom, except:

 

(a)
(x) Liens in favor of the Collateral Agent for the benefit of the Secured Parties granted pursuant to any Credit Document and
(y) Liens securing Incremental Equivalent Debt or any Permitted Refinancing thereof;

 

(b)
each of the following Liens (each, a “Permitted Encumbrance”), excluding any such Lien imposed by any section
of ERISA:

 

		(i)	Liens for Taxes if the applicable Person is in compliance with Section 5.3 with respect thereto
and statutory Liens for Taxes not yet due and payable;

 

		(ii)	statutory or common law Liens of landlords, sub-landlords, carriers, warehousemen, mechanics, materialmen,
repairmen, construction contractors or other like Liens, so long as, in each case, such Liens (A) do not in the aggregate materially
detract from the value of the property of Parent and its Restricted Subsidiaries, taken as a whole, and do not materially impair
the use thereof in the operation of the business of such companies, taken as a whole or (B) are being contested in good faith and
by appropriate actions, if reserves with respect thereto are maintained on the books of the applicable Person in accordance with
GAAP;

  

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		(iii)	Liens granted in the ordinary course of business (A) in connection with workers’ compensation,
unemployment insurance, payroll taxes and other social security legislation or (B) securing liability for reimbursement or indemnification
obligations of (including obligations in respect of letters of credit or bank guarantees for the benefit of) insurance carriers
providing property, casualty or liability insurance to Parent or any of its Restricted Subsidiaries;

 

		(iv)	Liens to secure the performance of bids, trade contracts, utilities, governmental contracts and
leases (other than Indebtedness for borrowed money), statutory obligations, surety, stay, customs and appeal bonds, performance
bonds and other obligations of a like nature (including those to secure health, safety and environmental obligations) incurred
in the ordinary course of business, so long as (A) any Liens that secure surety bonds are (other than in respect of the contracts
in respect of which such surety bonds are posted and assets related thereto) junior to the Liens in favor of the Collateral Agent
on the same properties that constitute Collateral under the Collateral Documents, and (B) no foreclosure, sale or similar proceedings
have been commenced with respect to any portion of the Collateral on account thereof;

 

		(v)	covenants, conditions, easements, rights-of-way, building codes, restrictions (including zoning
restrictions), encroachments, licenses, protrusions and other similar encumbrances and minor title defects or survey matters, in
each case affecting Real Estate Assets and that do not in the aggregate materially interfere with the ordinary conduct of the business
of Parent and its Restricted Subsidiaries, taken as a whole, and any exceptions on the Title Policies issued in connection with
the Mortgaged Properties;

 

		(vi)	Liens (A) in favor of customs and revenue authorities arising as a matter of Law to secure payment
of customs duties in connection with the importation of goods in the ordinary course of business or (B) on specific items of inventory
or other goods and proceeds of any Person securing such Person’s obligations in respect of bankers’ acceptances or
letters of credit issued or created for the account of such person to facilitate the purchase, shipment or storage of such inventory
or other goods in the ordinary course of business;

 

		(vii)	Liens (A) of a collection bank (including those arising under Section 4-208 of the Uniform Commercial
Code) on items in the course of collection, (B) attaching to commodity trading accounts or other commodities brokerage accounts
incurred in the ordinary course of business, or (C) in favor of a banking or other financial institution arising as a matter of
Law or under customary general terms and conditions encumbering deposits or other funds maintained with a financial institution
(including the right of set-off) and that are within the general parameters customary in the banking industry or arising pursuant
to such banking institutions general terms and conditions;

  

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		(viii)	(A) any interest or title of a lessor, sub-lessor, licensor or sub-licensor under leases, subleases,
licenses or sublicenses (including with respect to any intellectual property) entered into by Parent or any of its Restricted Subsidiaries
in the ordinary course of business or otherwise not materially interfering with Parent’s and its Restricted Subsidiaries’
business taken as a whole and (B) licenses, sublicenses, leases or subleases (including with respect to any intellectual property)
with respect to any assets granted to third Persons in the ordinary course of business or otherwise not materially interfering
with Parent’s and its Restricted Subsidiaries’ business taken as a whole;

  

		(ix)	Liens arising out of conditional sale, title retention, consignment or similar arrangements for
sale of goods entered into by Parent or any of its Restricted Subsidiaries in the ordinary course of business permitted by this
Agreement;

 

		(x)	Liens encumbering reasonable customary initial deposits and margin deposits and similar Liens attaching
to commodity trading accounts or other brokerage accounts incurred in the ordinary course of business and not for speculative purposes;

 

		(xi)	Liens that are contractual rights of set-off or rights of pledge (A) relating to the establishment
of depository relations with banks or other deposit-taking financial institutions and not given in connection with the issuance
of Indebtedness, (B) relating to pooled deposit or sweep accounts of Parent or any of its Restricted Subsidiaries to permit satisfaction
of overdraft or similar obligations incurred in the ordinary course of business of Parent or any of its Restricted Subsidiaries
or (C) relating to purchase orders and other agreements entered into with customers of Parent or any of its Restricted Subsidiaries
in the ordinary course of business;

 

		(xii)	Liens on any cash earnest money deposits made by Parent or any of its Restricted Subsidiaries in
connection with any letter of intent or purchase agreement in connection with any Investment not prohibited hereby;

 

		(xiii)	ground leases in respect of Real Estate Assets on which facilities owned or leased by Parent or
any of its Restricted Subsidiaries are located;

 

		(xiv)	(A) zoning, building, entitlement and other land use regulations by Governmental Authorities with
which the normal operation of the business complies in all material respects, and (B) any zoning or similar law or right reserved
to or vested in any Governmental Authority to control or regulate the use of any real property that does not materially interfere
with the ordinary conduct of the business of Parent and its Restricted Subsidiaries, taken as a whole;

 

		(xv)	Liens arising from precautionary Uniform Commercial Code financing statements or similar filings;

 

		(xvi)	Liens on insurance policies and the proceeds thereof securing the financing of the premiums with
respect thereto;

 

		(xvii)	Liens on specific items of inventory or other goods and the proceeds thereof securing such Person’s
obligations in respect of documentary letters of credit or banker’s acceptances issued or created for the account of such
Person to facilitate the purchase, shipment or storage of such inventory or goods;

  

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		(xviii)	deposits of cash with the owner or lessor of premises leased or operated by Restricted Subsidiaries
to secure the performance of Restricted Subsidiaries’ obligations under the terms of the lease for such premises;

 

		(xix)	in the case of any non-wholly owned Restricted Subsidiary, any put and call arrangements or restrictions
on disposition related to its Equity Interests set forth in its organizational documents or any related joint venture or similar
agreement;

 

		(xx)	Liens on property subject to any sale-leaseback transaction permitted hereunder and general intangibles
related thereto;

 

		(xxi)	Liens arising by operation of law in the United States under Article 2 of the UCC in favor of a
reclaiming seller of goods or buyer of goods;

 

		(xxii)	Liens disclosed as an exception to a Title Policy;

 

		(xxiii)	Liens deemed to exist in connection with investments in repurchase agreements meeting the requirements
of Cash Equivalents;

 

		(xxiv)	Liens on amounts deposited as “security deposits” (or their equivalent) in the ordinary
course of business in connection with actions or transactions not prohibited by this Agreement;

 

		(xxv)	Liens on cash or Cash Equivalents securing obligations under Swap Contracts permitted hereunder;
and

 

		(xxvi)	with respect to any Foreign Subsidiary, Liens arising mandatorily pursuant to any applicable law.

 

(c)
Liens existing on the Closing Date and listed in Schedule 6.2 and any modifications, replacements, renewals, restructurings, refinancings
or extensions thereof; provided, (i) the Lien does not extend to any additional property other than after-acquired property
that is affixed or incorporated into the property covered by such Lien or financed by Indebtedness permitted under Section 6.1
and proceeds and products thereof and (ii) the replacement, renewal, extension or refinancing of the obligations secured or benefited
by such Liens, to the extent constituting Indebtedness, is permitted by Section 6.1;

 

(d)
Liens, if any, in favor of Issuing Banks and/or the Swing Line Lender to Cash Collateralize or otherwise secure the obligations
of a Defaulting Lender to fund risk participations hereunder;

 

(e)
Liens (i) securing judgments or orders for the payment of money not constituting an Event of Default under Section 8.1(h), (ii)
arising out of judgments or awards against Parent or any of its Restricted Subsidiaries with respect to which an appeal or other
proceeding for review is then being pursued and (iii) notices arising out of lis pendens and associated rights related
to litigation being contested in good faith by appropriate proceedings for which reserves in accordance with GAAP have been made;

 

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(f)
Liens securing Indebtedness permitted pursuant to Section 6.1(q); provided, (i) such Liens are created within 180 days
of the acquisition, construction, repair, lease or improvement of the property subject to such Liens, and (ii) such Liens do not
at any time extend to or cover any assets (except for replacements, additions and accessions to such assets) other than the assets
subject to such Capital Leases or Purchase Money Indebtedness and the proceeds and products thereof and customary security deposits;
provided, individual financings of equipment provided by one lender (or lessor) may be cross collateralized to other financings
of equipment provided by such lender (or lessor);

 

(g)
Liens existing on property at the time of its acquisition or existing on the property of any Person at the time such Person becomes
a Restricted Subsidiary (other than by designation as a Restricted Subsidiary pursuant to Section 5.13) or otherwise securing
Indebtedness acquired or assumed pursuant to Section 6.1(s) (other than Liens on the Equity Interests of any Person that becomes
a Restricted Subsidiary to the extent such Equity Interests are owned by Parent or any Restricted Subsidiary); provided,
(i) such Lien was not created in contemplation of such acquisition or such Person becoming a Restricted Subsidiary, and (ii) such
Lien does not extend to or cover any other assets or property (other than the proceeds, products and accessions thereof and other
than after-acquired property subjected to a Lien securing Indebtedness and other obligations incurred prior to such time and which
Indebtedness and other obligations are permitted hereunder that require, pursuant to their terms at such time, a pledge of after-acquired
property, it being understood that such requirement shall not be permitted to apply to any property to which such requirement
would not have applied but for such acquisition);

 

(h)
Liens securing Indebtedness permitted by Sections 6.1(t), (u) or (v);

 

(i)
Permitted Maritime Liens; and

 

(j)
Liens not otherwise permitted by this Section 6.2 securing obligations or liabilities of Parent and its Restricted Subsidiaries
not to exceed at any time the greater of $20,000,000 and 27% of Consolidated Adjusted EBITDA for the most recently ended Test
Period; provided, the aggregate principal amount of all Liens for all Restricted Subsidiaries that are not Credit Parties
outstanding in reliance on this Section 6.2(j) shall not at any time exceed the greater of $15,000,000 and 20% of Consolidated
Adjusted EBITDA for the most recently ended Test Period.

 

For
purposes of determining compliance with this Section 6.2, if a Lien meets, in whole or in part, the criteria of more than one
of the categories of Liens (or any portion thereof) described in Sections 6.2(a) through (k), the Borrower Representative may,
in its sole discretion, divide and classify and later redivide and reclassify such Lien (or any portion thereof) in any manner
that complies with this Section 6.2 and will be entitled to include the amount and type of such Lien or liability secured by such
Lien (or any portion thereof) in any one or more of the above clauses as it so elects and such Lien will be treated as being incurred
or existing pursuant to only such clause or clauses (or any portion thereof).

 

6.3
Payments and Prepayments of Certain Indebtedness.

 

(a)
Prepay, redeem, purchase, defease or otherwise satisfy prior to the scheduled maturity thereof in any manner any Junior Financing,
except:

 

		(i)	the conversion or exchange of any Junior Financing to Equity Interests (other than Disqualified
Equity Interests) of Parent or any Ultimate Parent Company or Relevant Public Company;

 

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		(ii)	repayments, redemptions, purchases, defeasances and other payments in respect of any Junior Financing,
in each case, in compliance with the subordination terms or intercreditor arrangements applicable to such Junior Financing;

 

		(iii)	required payments of regularly scheduled payments of interest and fees, subject to compliance with
any Intercreditor Agreement or subordination terms or other intercreditor arrangements applicable to such Junior Financing;

 

		(iv)	any Permitted Refinancing of such Junior Financing;

 

		(v)	payments of intercompany Indebtedness permitted under Section 6.1;

 

		(vi)	so long as no Event of Default shall have occurred and be continuing or shall be caused thereby,
‘AHYDO’ catch-up payments; and

 

		(vii)	so long as no Event of Default shall have occurred and be continuing at the time thereof or shall
be caused thereby, repayments, redemptions, purchases, defeasances and other payments in an amount equal to:

 

		(A)	the then Available Amount; provided, on a Pro Forma Basis giving effect to the payment thereof
utilizing any amount under clause (A) of the definition of “Available Amount”, the Consolidated Total Net Leverage
Ratio shall not exceed the Closing Date Consolidated Total Net Leverage Ratio, as demonstrated by a Pro Forma Compliance Certificate
delivered to the Administrative Agent on or before the making of such payment; and

 

		(B)	an unlimited amount; provided, on a Pro Forma Basis giving effect to the payment thereof,
the Consolidated Total Net Leverage Ratio shall not exceed 2.65:1.00, as demonstrated by a Pro Forma Compliance Certificate delivered
to the Administrative Agent on or before the making of such payment.

  

(b)
Amend, modify or change any term or condition of any Junior Financing Documentation in violation of the applicable Intercreditor
Agreement or subordination terms or other intercreditor arrangements applicable to such Junior Financing in any material respect
adverse to the interests of the Lenders without the consent of the Required Lenders (not to be unreasonably withheld, conditioned
or delayed); provided that if immediately after giving effect to such amendment, modification or change, the Indebtedness
under such Junior Financing documentation could have been incurred under Section 6.1, such amendment, modification or change shall
be permitted.

 

6.4
Restricted Payments. Declare, order, pay or make any Restricted Payment except that, without duplication:

 

(a)
each Restricted Subsidiary may make Restricted Payments to the Borrowers and other Restricted Subsidiaries of Parent (and, in
the case of a Restricted Payment by a non-wholly owned Subsidiary, to the Borrowers, any other Restricted Subsidiary and to each
other owner of Equity Interests of such Restricted Subsidiary based on its relative ownership interests of the relevant class
of Equity Interests); provided, if an Event of Default shall have occurred and be continuing or shall immediately be caused
thereby, no Credit Party may make any restricted Payment to a Restricted Subsidiary that is not a Credit Party;

 

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(b)
(i) Parent, any Relevant Public Company, the Holding Companies and the Borrowers may (or may make Restricted Payments to permit
any Ultimate Parent Company to) redeem in whole or in part any of its Equity Interests for another class of its (or such Ultimate
Parent Company’s) Equity Interests or rights to acquire its Equity Interests or with proceeds from substantially concurrent
equity contributions or issuances of new Equity Interests, provided that any terms and provisions material to the interests of
the Lenders, when taken as a whole, contained in such other class of Equity Interests are at least as advantageous to the Lenders
as those contained in the Equity Interests redeemed thereby and (ii) Parent, any Relevant Public Company and each Restricted Subsidiary
may declare and make dividend payments or other Restricted Payments payable solely in the Equity Interests (other than Disqualified
Equity Interests) of such Person (and, in the case of such a Restricted Payment by a non-wholly owned Subsidiary, to the Borrowers
and any other Restricted Subsidiary and to each other owner of Equity Interests of such Restricted Subsidiary based on their relative
ownership interests of the relevant class of Equity Interests (or more favorably in favor of Parent or any wholly owned Subsidiary
thereof));

 

(c)
the Borrowers may make Restricted Payments to the Holding Companies, and the Holding Companies may make Restricted Payments to
Parent or any Relevant Public Company, and, if applicable (but without duplication), Parent and any Relevant Public Company may
make Restricted Payments to any Ultimate Parent Company, the proceeds of which (x) subsequent to a SPAC Transaction may be used
for the purpose specified in the following clause (i) and for any other purpose not prohibited by any other Section of this Agreement,
and (y) prior to a SPAC Transaction shall be used solely:

 

		(i)	to (x) repurchase Equity Interests if such Equity Interests represent a portion of the exercise
price of any option or warrant upon the exercise thereof, (y) pay cash in lieu of fractional Equity Interests in connection with
any dividend, split or combination thereof or any Permitted Acquisition and (z) honor any conversion request by a holder of convertible
Indebtedness and make cash payments in lieu of fractional shares in connection with any such conversion and may make payments on
convertible Indebtedness in accordance with its terms (so long as any cash payment permitted by this clause (i) is not made to
avoid the limitations of this section 6.4);

 

		(ii)	in respect of indemnification obligations or obligations in respect of purchase price adjustments
(including working capital adjustments or purchase price adjustments) permitted hereunder pursuant to any Permitted Acquisition
or other permitted Investments;

 

		(iii)	to pay franchise Taxes and other fees, Taxes (other than income Taxes) and expenses necessary or
appropriate to maintain its corporate existence;

 

		(iv)	to pay income Taxes to the extent such income taxes are attributable to the income of the Restricted
Subsidiaries; provided, the amount of such payments with respect to any taxable year does not exceed the amount of income
taxes that the Restricted Subsidiaries would have been required to pay for such taxable year if the Borrowers and their Restricted
Subsidiaries paid taxes as a stand-alone taxpayer (or stand-alone group); provided further, such payments are actually used
to pay such Taxes and that any Tax refunds received by Parent that are attributable to the Borrowers or their Restricted Subsidiaries
shall be promptly returned by Parent to the Borrowers;

  

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		(v)	to pay amounts as permitted by Section 6.11;

 

		(vi)	to pay Parent’s costs, fees and expenses related to any initial public offering or SPAC Transaction
(in each case whether or not consummated);

 

		(vii)	to pay (x) operating costs and expenses of any Holding Company, Parent, any Relevant Public Company
or any Ultimate Parent Company incurred in the ordinary course of business and other corporate overhead costs and expenses (including
administrative, legal, accounting and similar expenses provided by third parties), incurred in the ordinary course of business
and attributable to the ownership or operations of the Borrowers and their Restricted Subsidiaries, and (y) Transaction Costs and
any indemnification claims made by directors or officers of any Holding Company, Parent, any Relevant Public Company or any Ultimate
Parent Company attributable to the ownership or operations of the Borrowers and their Restricted Subsidiaries;

 

		(viii)	to pay customary salary, bonus, severance and other benefits payable to officers, directors, managers
and employees of any Holding Company, Parent, any Relevant Public Company or any Ultimate Parent Company to the extent such salaries,
bonuses, severance payments and other benefits are attributable to the ownership or operation of Parent and its Restricted Subsidiaries;
and

 

		(ix)	to the extent constituting Restricted Payments, for payment of fees related to this Agreement and
the Related Transactions and paid on the Closing Date.

 

(d)
so long as no Event of Default shall have occurred and be continuing or shall immediately be caused thereby, the Borrowers may
make Restricted Payments to the Holding Companies and the Holding Companies may make Restricted Payments to Parent or any Relevant
Public Company and, if applicable (but without duplication), Parent and any Relevant Public Company may make Restricted Payments
to any Ultimate Parent Company, the proceeds of which shall be used solely:

 

    	 	135	 

     

    

 

		(i)	to purchase or redeem from current or former employees, members of the Board of Directors, managers,
consultants and their respective estates, spouses or former spouses, or other immediate family members, (and successors, executors,
administrators, heirs, legatees or distributes of any of the foregoing) and any other minority shareholder of any Ultimate Parent
Company, Relevant Public Company or Parent, on account of the death, termination, resignation or other voluntary or involuntary
cessation of such person’s employment or directorship or shareholding, shares of such Ultimate Parent Company’s, Relevant
Public Company’s or Parent’s Equity Interests or options or warrants to acquire such Equity Interests in an aggregate
outstanding amount for all such payments not to exceed, from the Closing Date to the date of determination, the sum of (A) the
greater of $5,000,000 and 7% of Consolidated Adjusted EBITDA for the most recently ended Test Period (with unused amounts in any
Fiscal Year being carried over to succeeding Fiscal Years subject to a maximum of $7,500,000 in any Fiscal Year) plus (B)
the amount of any net cash proceeds received by or contributed to Parent or any Relevant Public Company or any Ultimate Parent
Company from the issuance and sale since the issue date of Equity Interests of Parent or any Relevant Public Company to officers,
directors, managers, employees or consultants of Parent or any Restricted Subsidiary that have not been used to fund any Restricted
Payments under this clause (d)(i), plus (C) the net cash proceeds of any “key man” life insurance policies of
any Credit Party or any Restricted Subsidiary that have not been used to make any repurchases, redemptions or payments under this
clause (d)(i), plus (D) the proceeds of issuances of Equity Interests to or loans from equity holders for the purpose of
funding any such Restricted Payments, provided that, for the avoidance of doubt, cancellation of Indebtedness owing to the
Borrower (or any direct or indirect parent thereof) or any of its Subsidiaries from members of management of the Borrower, any
of the Borrower’s direct or indirect parent companies or any of the Borrower’s Subsidiaries in connection with a repurchase
of Equity Interests of any of the Borrower’s direct or indirect parent companies will not be deemed to constitute a Restricted
Payment for purposes of this covenant or any other provision of this Agreement;

 

		(ii)	to pay dividends and distributions to the holders of Parent’s or any Relevant Public Company’s
or any Ultimate Parent Company’s Equity Interests in an amount equal to the Available Amount; provided, on a Pro Forma
Basis giving effect to the payment thereof utilizing any amount under clause (A) of the definition of “Available Amount”,
the Consolidated Total Net Leverage Ratio shall not exceed the Closing Date Consolidated Total Net Leverage Ratio, as demonstrated
by a Pro Forma Compliance Certificate delivered to the Administrative Agent on or before the making of such payment;

 

		(iii)	to pay dividends and distributions to the holders of Parent’s or any Relevant Public Company’s
or any Ultimate Parent Company’s Equity Interests in an unlimited amount; provided, on a Pro Forma Basis giving effect
to the payment thereof, the Consolidated Total Net Leverage Ratio shall not exceed 2.65:1.00, as demonstrated by a Pro Forma Compliance
Certificate delivered to the Administrative Agent on or before the making of such payment; and

 

		(iv)	to pay dividends and distributions to the holders of Parent’s or any Relevant Public Company’s
or any Ultimate Parent Company’s Equity Interests (that are not Disqualified Equity Interests) following a Qualified IPO
thereof, in an amount not to exceed in any Fiscal Year 6.0% of the proceeds received by or contributed to Parent or any Relevant
Public Company in or from any Qualified IPO.

  

(e)
Parent and its Restricted Subsidiaries may make Restricted Payments to finance any Permitted Acquisition or other permitted Investment;
provided that (i) such Restricted Payment shall be made substantially concurrently with the closing of such Permitted Acquisition
or permitted Investment and (ii) Parent, the Holding Companies or the Borrowers shall, immediately following the closing thereof,
cause (x) all property acquired (whether assets or Equity Interests) to be held by or contributed to a Credit Party or (y) the
merger (to the extent permitted in Section 6.8) of the Person formed or acquired into it or another Credit Party in order to consummate
such Permitted Acquisition or permitted Investment; and

 

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(f)
to the extent constituting Restricted Payments, Parent and its Restricted Subsidiaries may enter into and consummate transactions
expressly permitted by any provision of Section 6.6 (other than Section 6.6(i)) or Section 6.8.

 

Notwithstanding
anything herein to the contrary, upon and after the occurrence of a Qualified IPO the foregoing provisions of Section 6.4 will
not prohibit the payment of any Restricted Payment or the consummation of any redemption, purchase, defeasance or other payment
within 60 days after the date of declaration thereof or the giving of notice, as applicable, if at the date of declaration or
the giving of such notice such payment would have complied with the provisions of this Section 6.4 (it being understood that such
Restricted Payment shall be deemed to have been made on the date of declaration or notice for purposes of such provision).

 

6.5
Burdensome Agreements. Create or otherwise cause or suffer to exist or become effective any Contractual Obligation
that encumbers or restricts, in any material respect, the ability of any of Restricted Subsidiary to:

 

(a)
pay dividends or make any other distributions on any Restricted Subsidiary’s Equity Interests owned by any Borrower or any
Restricted Subsidiary of any Borrower;

 

(b)
repay or prepay any Indebtedness owed by such Restricted Subsidiary to Parent or any other Restricted Subsidiary of Parent;

 

(c)
make loans or advances to Parent or any other Restricted Subsidiary of Parent; or

 

(d)
transfer any of its property or assets to the Borrowers or any other Restricted Subsidiary of Parent;

 

Provided,
notwithstanding anything herein to the contrary, this Section 6.5 shall not apply to Contractual Obligations that:

 

		(i)	are binding on a Restricted Subsidiary at the time such Restricted Subsidiary first becomes a Restricted
Subsidiary, so long as such Contractual Obligations were not entered into in contemplation of such Person becoming a Restricted
Subsidiary;

 

		(ii)	relate to Indebtedness of a Subsidiary that is not a Credit Party which is permitted by Section
6.1 and which does not apply to any Credit Party;

 

		(iii)	are customary restrictions that arise in connection with (x) any Permitted Lien and relate to the
property subject to such Lien or (y) arise in connection with any disposition permitted by Section 6.8 or 6.9 and relate solely
to the assets or Person subject to such disposition;

 

		(iv)	are customary provisions in joint venture agreements and other similar agreements applicable to
joint ventures permitted under Section 6.6 and applicable solely to such joint venture and its equity entered into in the ordinary
course of business;

 

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		(v)	are negative pledges and restrictions on Liens in favor of any holder of Indebtedness permitted
under Section 6.1 but solely to the extent any negative pledge relates to the property financed by such Indebtedness and the proceeds,
accessions and products thereof;

 

		(vi)	are customary restrictions on leases, subleases, licenses or contemplated by asset sale, merger,
purchase or other similar agreements not prohibited hereby so long as such restrictions relate to the property interest, rights
or the assets subject thereto;

 

		(vii)	are customary provisions restricting subletting, transfer or assignment of any lease governing
a leasehold interest of Parent or any of its Restricted Subsidiaries;

 

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

 

		(ix)	are restrictions on cash or other deposits imposed by customers under contracts entered into in
the ordinary course of business;

 

		(x)	arise in connection with cash or other deposits permitted under Sections 6.2 and 6.6 and limited
to such cash or deposit;

 

		(xi)	are restrictions on cash or other deposits or net worth imposed by customers under contracts entered
into in the ordinary course of business;

 

		(xii)	are restrictions regarding licensing or sublicensing by the Borrowers and their Restricted Subsidiaries
of intellectual property in the ordinary course of business;

 

		(xiii)	are restrictions on cash earnest money deposits in favor of sellers in connection with acquisitions
not prohibited hereunder;

 

		(xiv)	are customary in partnership agreements, limited liability company organizational governance documents,
asset sale and stock sale agreements and other similar agreements entered into in the ordinary course of business that restrict
the transfer of ownership interests in such partnership, limited liability company or similar person or assets subject to such
transfer agreement;

 

		(xv)	restrictions or conditions in connection with any Indebtedness permitted pursuant to Section 6.1
to the extent such restrictions or conditions with respect to such Indebtedness are not, in the good faith opinion of the Borrower
Representative, materially more restrictive, taken as a whole, than the restrictions and conditions in the Credit Documents and
such restrictions or conditions do not prohibit compliance with Sections 5.11 and 5.12; or

 

		(xvi)	are restrictions imposed by Credit Documents.

  

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6.6
Investments. Make or own any Investment in any Person except Investments in or constituting:

 

(a)
cash and Cash Equivalents (and assets that were Cash Equivalents when such Investments were made);

 

(b)
promissory notes, securities and other non-cash consideration received in connection with Dispositions permitted by Section 6.9;

 

(c)
accounts receivable arising and trade credit granted in the ordinary course of business;

 

(d)
(i) Investments received in satisfaction or partial satisfaction of obligations owing from financially troubled account debtors
or pursuant to any plan of reorganization or similar arrangement upon or in connection with the bankruptcy or insolvency of such
account debtors, (ii) deposits, prepayments and other credits to suppliers and customers made in the ordinary course of business
and (iii) Investments that are received in settlement of bona fide disputes with trade creditors or customers;

 

(e)
(i) Investments made in the ordinary course of business consisting of negotiable instruments held for collection in the ordinary
course of business and lease, utility and other similar deposits in the ordinary course of business and (ii) guarantee obligations
in respect of leases (other than Capital Leases) or other obligations which underlying obligations are permitted hereunder;

 

(f)
Consolidated Capital Expenditures (and capital expenditures excluded from the definition thereof);

 

(g)
Investments in Swap Contracts permitted under Section 6.1;

 

(h)
advances, loans or extensions of credit by Parent or any of its Restricted Subsidiaries in compliance with applicable Laws to
officers, non-affiliated members of the Board of Directors, and employees of Parent or any of its Restricted Subsidiaries (i)
used to purchase the Equity Interests of Parent or any Relevant Public Company; provided, any such advance, loan or extension
of credit shall be non-cash, (ii) reasonable travel, entertainment or relocation, out of pocket or other business-related expenses,
(iii) constituting advances of payroll payments or commissions payments to employees or (iv) for purposes not described in or
amounts not permitted under the foregoing clauses (i), (ii) or (iii), in an aggregate principal amount outstanding at any one
time under this clause (iv) not in excess of $1,000,000;

 

(i)
unsecured intercompany advances by the Borrowers or any Restricted Subsidiary to Parent for purposes and in amounts that would
otherwise be permitted to be made as Restricted Payments to Parent, as the case may be, pursuant to Section 6.4; provided,
the principal amount of any such loans (solely while outstanding) shall reduce dollar-for-dollar the amounts that would otherwise
be permitted to be paid for such purpose in the form of Restricted Payments pursuant to such Section 6.4;

 

(j)
Investments (i) made in connection with the establishment and initial capitalization of a Subsidiary for the purposes of a Permitted
Acquisition or other permitted Investment or (ii) required in connection with a Permitted Acquisition or other permitted Investment
consisting of earnest money deposits required in connection with an acquisition of property not prohibited hereunder;

 

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(k)
(i) Investments of any Person existing at the time such Person becomes a Subsidiary or consolidates, merges or amalgamates with
a Borrower, Parent or any Subsidiary thereof (including in connection with a Permitted Acquisition or other permitted Investment),
provided such Investments were not made in contemplation of such Person becoming a Subsidiary, or of such consolidation, merger
or amalgamation and (ii) asset purchase (including purchases of inventory, supplies and materials) and the licensing or contribution
of intellectual property pursuant to joint marketing arrangements with other Persons, in each case in the ordinary course of business
consistent with past practice;

 

(l)
Investments described on Schedule 6.6 and modifications, replacements, renewals, reinvestments or extensions thereof; provided
that the amount of any Investment permitted pursuant to this Section 6.6(l) is not increased from the amount of such Investment
on the Closing Date except pursuant to the terms of such Investment as of the Closing Date or as otherwise permitted by this Section
6.6;

 

(m)
Investments to the extent that payment for such Investments is made solely with Equity Interests that are not Disqualified Equity
Interests of Parent or any Relevant Public Company;

 

(n)
contributions to a “rabbi” trust for the benefit of employees or other grantor trust subject to claims of creditors
in the case of a bankruptcy of Parent or any Restricted Subsidiary;

 

(o)
Equity Interests of any Restricted Subsidiary owned by Parent or another Restricted Subsidiary on the Closing Date;

 

(p)
Equity Interests of any Guarantor Subsidiary acquired after the Closing Date;

 

(q)
Investments (including Indebtedness referred to in Section 6.1(n)) (i) by any Credit Party in any other Credit Party, (ii) by
any Restricted Subsidiary that is not a Credit Party in a Borrower or in any Guarantor, (iii) by any Restricted Subsidiary that
is not a Credit Party in any other Restricted Subsidiary that is not a Credit Party and (iv) by the Restricted Subsidiaries in
Unrestricted Subsidiaries and in Restricted Subsidiaries that are not Credit Parties, in an aggregate amount, together with all
Investments made in reliance on Section 6.6(r)(v) not to exceed at any one time outstanding the greater of $15,000,000 and 20%
of Consolidated Adjusted EBITDA for the most recently ended Test Period;

 

(r)
an acquisition by Parent (subject to Section 6.13) or any Restricted Subsidiary, whether by purchase, merger or otherwise, of
all or substantially all of the assets of, all of the Equity Interests of, or a business line or unit or a division of, any Person,
that satisfies each of the following conditions (each, a “Permitted Acquisition”):

 

		i)	in the case of a Limited Condition Acquisition, (1) no Event of Default shall exist as of the date
the definitive acquisition agreement for such Limited Condition Acquisition is entered into and (2) immediately prior and immediately
after giving effect thereto, no Event of Default under Section 8.1(a), 8.1(f) or 8.1(g) shall have occurred and be continuing or
would result therefrom, and, (b) in the case of any other Permitted Acquisition, immediately prior and immediately after giving
effect thereto, no Event of Default shall have occurred and be continuing or would result therefrom;

 

		(ii)	the Credit Parties shall be in compliance with Section 6.12 upon giving effect to such acquisition;

  

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		(iii)	on a Pro Forma Basis immediately after giving effect to such acquisition and any financing thereof,
Parent shall be in compliance with the Financial Condition Covenant (whether or not then in effect) for the most recently ended
Test Period;

 

		(iv)	such acquisition shall be consensual and shall have been approved by the subject Person’s
Board of Directors or the requisite holders of the Equity Interests thereof, or, if applicable, by a court of competent jurisdiction
in a court-approved sale; and

 

		(v)	the aggregate amount of all Investments by Credit Parties with respect to all Permitted Acquisitions
in (A) assets (other than Equity Interests) that are (or become at the time of such acquisition) directly owned by Unrestricted
Subsidiaries and Restricted Subsidiaries that are not (and are not required under Section 5.11(b) to become) Credit Parties plus
(B) Equity Interests in Unrestricted Subsidiaries and Restricted Subsidiaries that are not (and are not required under Section
5.11(b) to become) Credit Parties, together with all Investments made in reliance on Section 6.6(q)(iv), shall not exceed at any
one time outstanding the greater of $15,000,000 and 20% of Consolidated Adjusted EBITDA for the most recently ended Test Period;

 

(s)
Investments by Restricted Subsidiaries, the aggregate amount of which shall not exceed the greater of $15,000,000 and 20% of Consolidated
Adjusted EBITDA for the most recently ended Test Period;

 

(t)
Investments by the Restricted Subsidiaries, the aggregate amount of which shall not exceed the then Available Amount; provided,
on a Pro Forma Basis immediately after giving effect to any Investment utilizing Available Amount, no Default or Event of Default
shall have occurred and be continuing or would result therefrom;

 

(u)
additional Investments by the Restricted Subsidiaries; provided, on a Pro Forma Basis immediately after giving effect to
any such Investment, (A) no Default or Event of Default shall have occurred and be continuing or would result therefrom, and (B)
the Consolidated Total Net Leverage Ratio shall not exceed 3.15:1.00, as demonstrated by a Pro Forma Compliance Certificate delivered
to the Administrative Agent on or before the making of such Investment; and

 

(v)
a SPAC Transaction to the extent it constitutes an Investment (and in such case subject to the satisfaction of each of the requirements
set forth in the definition of SPAC Transaction and in Section 6.11(k) hereof).

 

Notwithstanding
the foregoing, in no event shall Parent or any of its Restricted Subsidiaries make any Investment for a primary purpose of effectuating
any Restricted Payment not otherwise permitted under the terms of Section 6.4. For purposes of determining compliance with this
Section 6.6, if an Investment meets, in whole or in part, the criteria of one or more of the categories of Investments (or any
portion thereof) permitted in this Section 6.6, the Borrower Representative may, in its sole discretion, divide and classify and
later redivide and reclassify such Investment (or any portion thereof) in any manner that complies with this Section 6.6 and will
be entitled to include the amount and type of such Investment (or any portion thereof) in any one or more of the above clauses
as it so elects and such Investment will be treated as being incurred or existing pursuant to only such clause or clauses (or
any portion thereof). Any Investment in any Person other than a Credit Party that is otherwise permitted by this Section 6.6 may
be made through intermediate investments in Restricted Subsidiaries that are not Credit Parties and such intermediate investments
shall be disregarded for purposes of determining the outstanding amount of investments pursuant to any clause set forth above.

 

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6.7
Financial Condition Covenant. If, as of the last day of any Fiscal Quarter, the sum of (a)(i) the aggregate outstanding
principal amount of all Revolving Loans, plus (ii) the aggregate amount of all Letter of Credit Obligations in respect of all
Letters of Credit (excluding Letters of Credit to the extent cash collateralized and undrawn Letters of Credit in an aggregate
amount not to exceed $15,000,000) plus (iii) the aggregate outstanding principal amount of all Swing Line Loans, exceeds (b) 30.0%
of the Revolving Credit Limit in effect on such date, permit the Consolidated Total Net Leverage Ratio as of the last day of any
such Fiscal Quarter to exceed 5.45:1.00.

 

6.8
Fundamental Changes. Merge, dissolve, liquidate, consolidate with or into another Person, or Dispose of (whether in
one transaction or in a series of related transactions) all or substantially all of its assets (whether now owned or hereafter
acquired) to or in favor of any Person (other than as part of or in furtherance of the Related Transactions), except:

 

(a)
any Restricted Subsidiary may be merged with or into a Borrower or any Guarantor Subsidiary, or be liquidated, wound up or dissolved,
or all or any part of its business, property or assets may be conveyed, sold, leased, transferred or otherwise disposed of, in
one transaction or a series of transactions, to a Borrower or any Guarantor Subsidiary; provided, in the case of such a
merger, a Borrower or such Guarantor Subsidiary, as applicable, shall be the continuing or surviving Person;

 

(b)
any Restricted Subsidiary that is not a Guarantor may be merged with or into another Restricted Subsidiary, or be liquidated,
wound up or dissolved, or all or any part of its business, property or assets may be conveyed, sold, leased, transferred or otherwise
disposed of, in one transaction or a series of transactions, to another Restricted Subsidiary; provided, in the case of
a merger between a Restricted Subsidiary that is not a Guarantor and a Guarantor, the Guarantor shall be the continuing or surviving
Person;

 

(c)
any Restricted Subsidiary may change its legal form (but not its jurisdiction of incorporation or formation) if the Borrower Representative
determines in good faith that such action is not materially disadvantageous to the interests of the Lenders;

 

(d)
in connection with any Permitted Acquisition effected by a merger or other consolidation where the surviving entity is, or will
become, a Credit Party; provided, with respect to any such merger or consolidation that involves a Borrower, such Borrower
shall be the surviving Person thereof;

 

(e)
Dispositions permitted by Section 6.9; and

 

(f)
Parent and its Restricted Subsidiaries may consummate the SPAC Transaction, subject to the satisfaction of each of the requirements
set forth in the definition of SPAC Transaction and in Section 6.11(k) hereof.

 

6.9
Dispositions. Sell, lease or sub-lease (as lessor or sublessor), sell and leaseback, assign, convey, license (as licensor
or sublicensor), transfer or otherwise dispose to, or exchange any property with (any of the foregoing, a “Disposition”),
any Person, in one transaction or a series of transactions, of all or any part of Parent’s, any Borrower’s or any
other Restricted Subsidiaries’ businesses, assets or properties of any kind, whether real, personal, or mixed and whether
tangible or intangible, whether now owned or hereafter acquired, leased or licensed, including the Equity Interests of the Borrowers
or any of the other Restricted Subsidiaries (provided, for the avoidance of doubt, any issuance by Parent or any Relevant Public
Company of Equity Interests shall not be considered a Disposition), except:

 

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(a)
Dispositions by any Subsidiary of Parent to another Subsidiary of Parent; provided, the Holding Companies shall not Dispose
of the Equity Interests of the Borrowers to any Person other than another Holding Company, Parent or any Relevant Public Company;
and provided, further, that if the transferor of such property is a Credit Party and the transferee thereof is not,
to the extent such transaction constitutes an Investment, such transaction is permitted under Section 6.6;

 

(b)
Dispositions of cash and Cash Equivalents in the ordinary course of business;

 

(c)
Dispositions of inventory or other assets, including the non-exclusive license (as licensor or sublicensor) of intellectual property,
in each case, in the ordinary course of business;

 

(d)
the sale or discount, in each case without recourse and in the ordinary course of business, by the Borrowers or other Restricted
Subsidiaries of accounts receivable or notes receivable arising in the ordinary course of business, but only in connection with
the compromise or collection thereof or in connection with the bankruptcy or reorganization of the applicable account debtors
and dispositions of any securities or other assets received in any such bankruptcy or reorganization;

 

(e)
Dispositions of used, worn out, obsolete or surplus property by the Restricted Subsidiaries, including the abandonment or other
Disposition of intellectual property, in each case, which, in the reasonable judgment of the Borrower Representative, is no longer
economically practicable to maintain or useful in the conduct of the business of Parent and its Restricted Subsidiaries, taken
as a whole;

 

(f)
Dispositions of property to the extent that (i) such property is exchanged for credit against the purchase price of similar replacement
property, (ii) the proceeds of such Disposition are reasonably promptly applied to the purchase price of such replacement property,
or (iii) such transaction is part of a sale lease-back of such property permitted by Section 6.10;

 

(g)
Dispositions of assets that constitute a Restricted Payment permitted under Section 6.4, an Investment permitted under Section
6.6 or a transaction permitted under Section 6.8;

 

(h)
Dispositions of assets subject to a Casualty/Condemnation Event;

 

(i)
the Restricted Subsidiaries may lease or sublease (as lessee or sublessee) or license or sublicense (as licensee or sublicense)
real or personal property (including charters of Vessels on a bareboat, demise, time or any other basis) so long as any such lease,
license, sublease or sublicense does not create a Capital Lease except to the extent permitted by Section 6.10;

 

(j)
Permitted Acquisitions;

 

(k)
Dispositions of non-core assets acquired in connection with Permitted Acquisitions or other Investments permitted hereunder; provided,
(i) the aggregate amount of such Dispositions shall not exceed 10% of the purchase price of the applicable acquired entity or
business, and (ii) each such Disposition is an arm’s-length transaction and the Restricted Subsidiaries receive at least
Fair Market Value in exchange therefor;

 

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(l)
Dispositions of assets (including Equity Interests); provided, (i) in the case of any Dispositions resulting in Net Cash
Proceeds in any Fiscal Year in excess of the greater of $3,750,000 and 5% of Consolidated Adjusted EBITDA for the most recently
ended Test Period, at least 75% of the consideration in respect of such Disposition is cash or Cash Equivalents; provided,
the following shall be deemed cash for purposes of determining compliance with such 75% consideration requirement: (A) the amount
of any Indebtedness or other liabilities (other than Indebtedness or other liabilities that are subordinated to the Obligations
or that are owed to any Restricted Subsidiary) of any Restricted Subsidiary (as shown on such Person’s most recent balance
sheet or statement of financial position (or in the notes thereto) that are assumed by the transferee of any such assets and for
which the applicable Restricted Subsidiary have been validly released, (B) the amount of any trade-in value applied to the purchase
price of any replacement assets acquired in connection with such Disposition, (C) any Equity Interests or Securities received
by any Restricted Subsidiary from such transferee that are due under the terms thereof to be, or that are, converted by such Person
into cash or Cash Equivalents within 180 days following the closing of the applicable Disposition and (D) any Designated Non-Cash
Consideration received in respect of such Disposition, having an aggregate Fair Market Value, when taken together with all other
Designated Non-Cash Consideration received pursuant to this clause (D) that is at that time outstanding not in excess of $500,000);
(ii) the consideration in respect of such Disposition is at least equal to the Fair Market Value of the assets being sold, transferred,
leased or disposed; and (iii) no Event of Default has occurred and is continuing or would result therefrom;

 

(m)
the unwinding of any Swap Contract;

 

(n)
Asset Swaps in exchange for assets of comparable or greater value or usefulness to the business of Parent and its Restricted Subsidiaries,
as determined in good faith by the Borrower Representative; provided that the Fair Market Value of assets disposed of by Parent
and its Restricted Subsidiaries in reliance on this clause (p) in any Fiscal Year shall not exceed $10,000,000;

 

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

 

(p)
Dispositions of Equity Interests in, or Indebtedness or other Securities of, an Unrestricted Subsidiary;

 

(q)
the surrender or waiver of contractual rights and the settlement or waiver of contractual or litigation claims in the ordinary
course of business or in the commercially reasonable judgment of the Borrower Representative;

 

(r)
the Disposition of a nominal amount of Equity Interests in any Restricted Subsidiary of Parent to qualify members of the Board
of Directors of such Restricted Subsidiary to the extent required by applicable law; and

 

(s)
a SPAC Transaction to the extent it constitutes a Disposition (and in such case subject to the satisfaction of each of the requirements
set forth in the definition of SPAC Transaction and in Section 6.11(k) hereof).

 

6.10
Sales and Lease-Backs. Other than with respect to Capital Lease Obligations permitted by Sections 6.1(q) and 6.2(f),
become or remain liable as lessee or as a guarantor or other surety with respect to any lease of any property (whether real, personal
or mixed), whether now owned or hereafter acquired, which such Credit Party (a) has sold or transferred or is to sell or to transfer
to any other Person (other than a Borrower or any Guarantor Subsidiary), or (b) intends to use for substantially the same purpose
as any other property which has been or is to be sold or transferred by such Credit Party to any Person (other than a Borrower
or any Guarantor Subsidiary) in connection with such lease.

 

6.11
Transactions with Affiliates. Enter into or permit to exist any transaction (including the purchase, sale, lease or
exchange of any property or the rendering of any service) with any Affiliate of Parent, on terms that are less favorable to Parent
or any of its Restricted Subsidiaries, as the case may be, than those that would reasonably be expected to be obtained at the
time from a Person who is not such an Affiliate in a comparable arms-length transaction; provided, the foregoing restriction shall
not apply to:

 

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(a)
any transaction, not otherwise prohibited hereunder, between or among Parent and any Restricted Subsidiary;

 

(b)
reasonable and customary indemnities provided to, and reasonable and customary fees and reimbursements paid to, members of the
Board of Directors of Parent, its Restricted Subsidiaries or any Ultimate Parent Company or any Relevant Public Company;

 

(c)
reasonable and customary employment, compensation, indemnification and severance arrangements for officers and other employees
of Parent or its Restricted Subsidiaries or any Relevant Public Company entered into in the ordinary course of business and transactions
pursuant to equity option and incentive plans and employee benefit plans and arrangements;

 

(d)
Indebtedness to the extent permitted under Section 6.1, Restricted Payments to the extent permitted under Section 6.4 and Investments
to the extent permitted under Section 6.6;

 

(e)
(i) so long as no Event of Default under Section 8.1(a), 8.1(f) or 8.1(g) (each, a “Specified Event of Default”)
has occurred and is continuing, the payment of management, monitoring, consulting, advisory and other fees (including transaction
and termination fees), in each case, pursuant to the Management Agreement (without giving effect to any amendments or modifications
thereto after the Closing Date not permitted under Section 6.14); provided, during the continuance of a Specified Event
of Default, any such fees may continue to be accrued in favor of the Sponsor and its Affiliates and upon the cure, waiver or rescission
of any such Specified Event of Default, any and all such accrued fees may immediately be paid in cash to Sponsor and its Affiliates,
and (ii) indemnification and reimbursement of expenses of the Sponsor and its Affiliates in connection with management, monitoring,
consulting and advisory services provided by them to Parent, Borrowers and the Restricted Subsidiaries, including pursuant to
the Management Agreement, if any;

 

(f)
to the extent permitted by Sections 6.4(c)(iii) and 6.4(c)(iv), payments by the Borrowers, Parent and any Restricted Subsidiary
pursuant to tax sharing agreements among any such Persons (and any Ultimate Parent Company) on customary terms to the extent attributable
to the ownership or operation of such Persons;

 

(g)
transactions pursuant to agreements, instruments or arrangements in existence on the Closing Date and set forth in Schedule 6.11
or any amendment thereto to the extent such an amendment is not adverse to the interests of the Lenders in any material respect;

 

(h)
the consummation by Parent and the Borrowers of the Closing Date Contribution and the 2018 Dividend;

 

(i)
the sale or issuance of Equity Interests (that are not Disqualified Equity Interests) of Parent or any Relevant Public Company
to any officer, director, manager, employee or consultant of Parent or any Restricted Subsidiary and the granting of registration
and other customary rights in connection therewith;

 

(j)
any transaction with an Affiliate where the only material consideration paid by Parent or any Restricted Subsidiary is Equity
Interests (that are not Disqualified Equity Interests) of Parent or any Relevant Public Company; and

 

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(k)
the consummation of a SPAC Transaction; provided that, (x) each of the requirements set forth in the definition of SPAC Transaction
shall have been satisfied, (y) as of the date the definitive acquisition agreement in respect of such SPAC Transaction is entered
into, no Event of Default shall exist, and (z) as of the date thereof both immediately before and after giving effect thereto
no Event of Default under Sections 8.1(a), 8.1(f) or 8.1(g) shall have occurred and be continuing or would result therefrom, in
each case as certified in writing by an Authorized Officer of the Borrower Representative and Parent to the Administrative Agent
not later than concurrently with the consummation of such SPAC Transaction.

 

6.12
Conduct of Business. Engage in any material business other than (a) the businesses engaged in thereby on the Closing
Date and similar, corollary, ancillary, complementary (including synergistically), incidental or related businesses and reasonable
extensions thereto and developments and expansions thereof and (b) such other lines of business as may be consented to by the
Required Lenders.

 

6.13
Permitted Activities of Parent. Notwithstanding anything to the contrary contained herein, except (x) to the extent
permitted pursuant to Section 6.13(f) or (y) in connection with or subsequent to a SPAC Transaction, Parent shall not:

 

(a)
incur, directly or indirectly, any Indebtedness or any other material obligation or liability whatsoever other than the Obligations
and any other obligation under the Closing Date Contribution Documents or any Credit Document or as otherwise permitted under
this Section 6.1;

 

(b)
create or suffer to exist any Lien upon any property or assets now owned or hereafter acquired by it other than as otherwise permitted
pursuant to Section 6.2;

 

(c)
consolidate with or merge with or into, or convey, transfer or lease all or substantially all its assets to, any Person;

 

(d)
create or acquire any direct Restricted Subsidiary or make or own any direct Investment in any Person other than in the Holding
Companies or Borrowers and cash and Cash Equivalents;

 

(e)
fail to hold itself out to the public as a legal entity separate and distinct from all other Persons; or

 

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(f)
engage in any material business or activity or own any material assets other than, in each case, (i) its ownership of the Equity
Interests of the Holding Companies or Borrowers and activities incidental thereto, including payment of dividends and other amounts
in respect of its Equity Interests, in each case, not prohibited pursuant to this Agreement, (ii) the maintenance of its legal
existence (including the ability to incur fees, costs and expenses relating to such maintenance) and the performance of obligations
under and in compliance with its Organizational Documents to the extent not prohibited hereunder, (iii) the performance of its
obligations as a Guarantor, (iv) any public offering of its common stock or any other issuance or sale of its Equity Interests,
(v) participating in tax, accounting and other administrative matters as a member of the consolidated group of Parent and the
Borrowers and their respective Subsidiaries, (vi) making or receipt of any Restricted Payments or Investments permitted to be
made or received, or Indebtedness incurred, as applicable, by Parent pursuant to this Agreement, (vii) providing indemnification
to officers and directors in the ordinary course of business, (viii) executing, delivering and the performance of rights and obligations
under the Credit Documents, the Closing Date Contribution Documents and any documents and agreement relating to any Permitted
Acquisition or other Investment permitted hereunder to which it is a party, (ix) performance of rights and obligations under any
Management Agreement to which it is a party, (x) purchasing and holding Equity Interests (to the extent not constituting Disqualified
Equity Interests) of the Holding Companies and Borrowers, (xi) making capital contributions to the Holding Companies or Borrowers,
including from amounts contributed to Parent and held temporarily prior to such contribution, (xii) taking actions in furtherance
of and consummating a Qualified IPO, and fulfilling all initial and ongoing obligations related thereto, (xiii) execution and
delivery of, and the performance of rights and obligations under, any employment agreements and any documents related thereto,
(xiv) purchasing Obligations in accordance with this Agreement, (xv) transactions expressly described herein in which Parent may
engage, including the ownership of assets contemplated by such transactions, (xvi) execution and delivery of, and the performance
of rights and obligations under, any guarantees of leases or insurance obligations or other guarantees expressly permitted hereunder
(including in connection with workers compensation insurance or self-insurance), (xvii) holding any Restricted Payment permitted
hereunder temporarily pending further distribution, (xviii) activities required to comply with applicable Laws, (xix) the maintenance
and administration of stock option and stock ownership plans, (xx) the obtainment of, and the payment of any fees and expenses
for, management, consulting, investment banking and advisory services to the extent otherwise permitted by this Agreement, and
(xxi) any activities incidental or reasonably related to the foregoing, including holding Cash and Cash Equivalents (together
with any investment income thereon).

 

6.14
Amendments or Waivers of Certain Documents. Agree to any material amendment, restatement, supplement or other modification
to, or waiver of, (a) any of its Organizational Documents in a manner materially adverse to the interests of the Lenders; (b)
the Management Agreement in a manner materially adverse to the rights or interests of the Lenders, including (i) to increase the
amount of the management fees payable under the terms thereof or to impose any additional management, consulting, investment,
banking, refinancing, transaction or other similar fees, (ii) to require the payment of interest on any deferred management fees
or other fees payable thereunder, or (iii) to change the time of payment of any management fees or other fees payable thereunder
or (c) Junior Financing Documentation in violation of the applicable Intercreditor Agreement or subordination terms or other intercreditor
arrangements applicable to such Junior Financing.

 

6.15
Fiscal Year. Change its Fiscal Year-end from December 31.

 

SECTION
7 GUARANTY

 

7.1
Guaranty of the Obligations. Subject to the provisions of Section 7.2, the Guarantors jointly and severally hereby
irrevocably and unconditionally guaranty to the Administrative Agent for the ratable benefit of the Beneficiaries the due and
punctual payment in full of all Obligations when the same shall become due, whether at stated maturity, by required prepayment,
declaration, acceleration, demand or otherwise (including amounts that would become due but for the operation of the automatic
stay under Section 362(a) of the Bankruptcy Code, 11 USC. § 362(a), but excluding, with respect to any Guarantor at any time,
Excluded Swap Obligations with respect to such Guarantor at such time) (collectively, the “Guaranteed Obligations”).

 

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7.2
Contribution by Guarantors. All Guarantors desire to allocate among themselves (collectively, the “Contributing
Guarantors”), in a fair and equitable manner, their obligations arising under this Guaranty. Accordingly, if any payment
or distribution is made on any date by a Guarantor (a “Funding Guarantor”) under this Guaranty such that its
Aggregate Payments exceeds its Fair Share as of such date, such Funding Guarantor shall be entitled to a contribution from each
of the other Contributing Guarantors in an amount sufficient to cause each Contributing Guarantor’s Aggregate Payments to
equal its Fair Share as of such date. “Fair Share” means, with respect to a Contributing Guarantor as of any
date of determination, an amount equal to (a) the ratio of (x) the Fair Share Contribution Amount with respect to such Contributing
Guarantor to (y) the aggregate of the Fair Share Contribution Amounts with respect to all Contributing Guarantors times
(b) the aggregate amount paid or distributed on or before such date by all Funding Guarantors under this Guaranty in respect of
the obligations Guaranteed. “Fair Share Contribution Amount” means, with respect to a Contributing Guarantor
as of any date of determination, the maximum aggregate amount of the obligations of such Contributing Guarantor under this Guaranty
that would not render its obligations hereunder or thereunder subject to avoidance as a fraudulent transfer or conveyance under
Section 548 of Title 11 of the United States Code or any comparable applicable provisions of state Law; provided, solely
for purposes of calculating the “Fair Share Contribution Amount” with respect to any Contributing Guarantor for purposes
of this Section 7.2, any assets or liabilities of such Contributing Guarantor arising by virtue of any rights to subrogation,
reimbursement or indemnification or any rights to or obligations of contribution hereunder shall not be considered as assets or
liabilities of such Contributing Guarantor. “Aggregate Payments” means, with respect to a Contributing Guarantor
as of any date of determination, an amount equal to (i) the aggregate amount of all payments and distributions made on or before
such date by such Contributing Guarantor in respect of this Guaranty (including in respect of this Section 7.2), minus
(ii) the aggregate amount of all payments received on or before such date by such Contributing Guarantor from the other Contributing
Guarantors as contributions under this Section 7.2. The amounts payable as contributions hereunder shall be determined as of the
date on which the related payment or distribution is made by the applicable Funding Guarantor. The allocation among Contributing
Guarantors of their obligations as set forth in this Section 7.2 shall not be construed in any way to limit the liability of any
Contributing Guarantor hereunder. Each Guarantor is a third party beneficiary to the contribution agreement set forth in this
Section 7.2.

 

7.3
Payment by Guarantors. Subject to Section 7.2, Guarantors hereby jointly and severally agree, in furtherance of the
foregoing and not in limitation of any other right which any Beneficiary may have at law or in equity against any Guarantor by
virtue hereof, that upon the failure of the Borrowers to pay any of the Guaranteed Obligations when and as the same shall become
due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including amounts that
would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 USC. § 362(a)),
Guarantors will upon demand pay, or cause to be paid, in cash, to the Administrative Agent for the ratable benefit of Beneficiaries,
an amount equal to the sum of the unpaid principal amount of all Guaranteed Obligations then due as aforesaid, accrued and unpaid
interest on such Guaranteed Obligations (including interest which, but for any Borrower’s becoming the subject of a proceeding
under any Debtor Relief Law, would have accrued on such Guaranteed Obligations, whether or not a claim is allowed against such
Borrower for such interest in such proceeding) and all other Guaranteed Obligations then owed to Beneficiaries as aforesaid.

 

7.4
Liability of Guarantors Absolute. Each Guarantor agrees that its obligations hereunder are irrevocable, absolute, independent
and unconditional and shall not be affected by any circumstance which constitutes a legal or equitable discharge of a guarantor
or surety other than payment in full of the Guaranteed Obligations (other than Remaining Obligations). In furtherance of the foregoing
and without limiting the generality thereof, each Guarantor agrees as follows:

 

(a)
this Guaranty is a guaranty of payment when due and not of collectability;

 

(b)
this Guaranty is a primary obligation of each Guarantor and not merely a contract of surety;

 

(c)
the Administrative Agent may enforce this Guaranty upon the occurrence of an Event of Default notwithstanding the existence of
any dispute between any Borrower and any Beneficiary with respect to the existence of such Event of Default;

 

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(d)
the obligations of each Guarantor hereunder are independent of the obligations of the Borrowers and the obligations of any other
guarantor (including any other Guarantor) of the obligations of the Borrowers, and a separate action or actions may be brought
and prosecuted against such Guarantor to enforce this Guaranty whether or not any action is brought against any Borrower or any
of such other guarantors and whether or not any Borrower is joined in any such action or actions;

 

(e)
payment by any Guarantor of a portion, but not all, of the Guaranteed Obligations shall in no way limit, affect, modify or abridge
any Guarantor’s liability for any portion of the Guaranteed Obligations that has not been paid when due. Without limiting
the generality of the foregoing, if the Administrative Agent is awarded a judgment in any suit brought to enforce any Guarantor’s
covenant to pay a portion of the Guaranteed Obligations, such judgment shall not be deemed to release such Guarantor from its
covenant to pay the portion of the Guaranteed Obligations that is not the subject of such suit, and such judgment shall not, except
to the extent satisfied by such Guarantor, limit, affect, modify or abridge any other Guarantor’s liability hereunder in
respect of the Guaranteed Obligations;

 

(f)
any Beneficiary, upon such terms as it deems appropriate, without notice or demand (except to the extent notice is required to
be provided hereunder, in any other Credit Document or under applicable Law) and without affecting the validity or enforceability
hereof or giving rise to any reduction, limitation, impairment, discharge or termination of any Guarantor’s liability hereunder,
from time to time may (i) renew, extend, accelerate, increase the rate of interest on, or otherwise change the time, place, manner
or terms of payment of the Guaranteed Obligations; (ii) settle, compromise, release or discharge, or accept or refuse any offer
of performance with respect to, or substitutions for, the Guaranteed Obligations or any agreement relating thereto and/or subordinate
the payment of the same to the payment of any other obligations; (iii) request and accept other guarantees of the Guaranteed Obligations
and take and hold security for the payment hereof or the Guaranteed Obligations; (iv) release, surrender, exchange, substitute,
compromise, settle, rescind, waive, alter, subordinate or modify, with or without consideration, any security for payment of the
Guaranteed Obligations, any other guarantees of the Guaranteed Obligations, or any other obligation of any Person (including any
other Guarantor) with respect to the Guaranteed Obligations; (v) enforce and apply any security now or hereafter held by or for
the benefit of such Beneficiary in respect hereof or the Guaranteed Obligations and direct the order or manner of sale thereof,
or exercise any other right or remedy that such Beneficiary may have against any such security, in each case as such Beneficiary
in its reasonable discretion may determine consistent herewith or with the applicable Swap Contract, Cash Management Agreement
or security agreement, including foreclosure on any such security pursuant to one or more judicial or nonjudicial sales, whether
or not every aspect of any such sale is commercially reasonable (but so long as such sale is in accordance with applicable Law),
and even though such action operates to impair or extinguish any right of reimbursement or subrogation or other right or remedy
of any Guarantor against the Borrowers or any security for the Guaranteed Obligations; and (vi) exercise any other rights available
to it under the Credit Documents, the Swap Contracts or Cash Management Agreements; and

 

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(g)
this Guaranty and the obligations of Guarantors hereunder shall be valid and enforceable and shall not be subject to any reduction,
limitation, impairment, discharge or termination for any reason (other than payment in full of the Guaranteed Obligations (other
than Remaining Obligations) or unless the obligations of the Guarantors are reduced or terminated by the Administrative Agent
and applicable Beneficiaries in accordance with the terms of this Agreement), including the occurrence of any of the following,
whether or not any Guarantor shall have had notice or knowledge of any of them: (i) any failure or omission to assert or enforce
or agreement or election not to assert or enforce, or the stay or enjoining, by order of court, by operation of law or otherwise,
of the exercise or enforcement of, any claim or demand or any right, power or remedy (whether arising under the Credit Documents,
the Swap Contracts or the Cash Management Agreements, at law, in equity or otherwise) with respect to the Guaranteed Obligations
or any agreement relating thereto, or with respect to any other guaranty of or security for the payment of the Guaranteed Obligations;
(ii) any rescission, waiver, amendment or modification of, or any consent to departure from, any of the terms or provisions (including
provisions relating to events of default) hereof, any of the other Credit Documents, any of the Swap Contracts, any of the Cash
Management Agreements or any agreement or instrument executed pursuant thereto, or of any other guaranty or security for the Guaranteed
Obligations, in each case whether or not in accordance with the terms hereof or such Credit Document, such Swap Contract, such
Cash Management Agreement or any agreement relating to such other guaranty or security; (iii) the Guaranteed Obligations, or any
agreement relating thereto, at any time being found to be illegal, invalid or unenforceable in any respect; (iv) the application
of payments received from any source (other than payments received pursuant to the other Credit Documents, any of the Swap Contracts
or any of the Cash Management Agreements or from the proceeds of any security for the Guaranteed Obligations, except to the extent
such security also serves as collateral for indebtedness other than the Guaranteed Obligations) to the payment of indebtedness
other than the Guaranteed Obligations, even though any Beneficiary might have elected to apply such payment to any part or all
of the Guaranteed Obligations; (v) any Beneficiary’s consent to the change, reorganization or termination of the corporate
structure or existence of Parent or any of its Restricted Subsidiaries and to any corresponding restructuring of the Guaranteed
Obligations; (vi) any failure to perfect or continue perfection of a security interest in any collateral which secures any of
the Guaranteed Obligations; (vii) any defenses, set-offs or counterclaims which the Borrowers may allege or assert against any
Beneficiary in respect of the Guaranteed Obligations, including failure of consideration, breach of warranty, payment, statute
of frauds, statute of limitations, accord and satisfaction and usury; and (viii) any other act or thing or omission, or delay
to do any other act or thing, which may or might in any manner or to any extent vary the risk of any Guarantor as an obligor in
respect of the Guaranteed Obligations.

 

7.5
Waivers by Guarantors. Each Guarantor hereby waives, to the extent permitted by applicable Law, for the benefit of
the Beneficiaries: (a) any right to require any Beneficiary, as a condition of payment or performance by such Guarantor, to (i)
proceed against any Borrower, any other guarantor (including any other Guarantor) of the Guaranteed Obligations or any other Person,
(ii) proceed against or exhaust any security held from any Borrower, any such other guarantor or any other Person, (iii) proceed
against or have resort to any balance of any deposit account or credit on the books of any Beneficiary in favor of any Borrower
or any other Person, or (iv) pursue any other remedy in the power of any Beneficiary whatsoever; (b) any defense arising by reason
of the incapacity, lack of authority or any disability or other defense of any Borrower or any other Guarantor including any defense
based on or arising out of the lack of validity or the unenforceability of the Guaranteed Obligations or any agreement or instrument
relating thereto or by reason of the cessation of the liability of any Borrower or any other Guarantor from any cause other than
payment in full of the Guaranteed Obligations (other than Remaining Obligations); (c) any defense based upon any statute or rule
of law which provides that the obligation of a surety must be neither larger in amount nor in other respects more burdensome than
that of the principal; (d) any defense based upon any Beneficiary’s errors or omissions in the administration of the Guaranteed
Obligations, except behavior which amounts to gross negligence, bad faith, willful misconduct or material breach of agreement
in each case as determined by a final, non-appealable judgment of a court of competent jurisdiction; (e) (i) any principles or
provisions of Law, statutory or otherwise, which are or might be in conflict with the terms hereof and any legal or equitable
discharge of such Guarantor’s obligations hereunder, (ii) the benefit of any statute of limitations affecting such Guarantor’s
liability hereunder or the enforcement hereof, (iii) any rights to set-offs, recoupments and counterclaims, and (iv) promptness,
diligence and any requirement that any Beneficiary protect, secure, perfect or insure any security interest or lien or any property
subject thereto; (f) notices, demands, presentments, protests, notices of protest, notices of dishonor and notices of any action
or inaction, including acceptance hereof, notices of default hereunder, the Swap Contracts, the Cash Management Agreements or
any agreement or instrument related thereto, notices of any renewal, extension or modification of the Guaranteed Obligations or
any agreement related thereto, notices of any extension of credit to Borrowers and notices of any of the matters referred to in
Section 7.4 and any right to consent to any thereof; and (g) any defenses or benefits that may be derived from or afforded by
Law which limit the liability of or exonerate guarantors or sureties, or which may conflict with the terms hereof.

 

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7.6
Guarantors’ Rights of Subrogation, Contribution, Etc. Until the Guaranteed Obligations (other than Remaining
Obligations) shall have been indefeasibly paid in full and the Revolving Credit Commitments shall have terminated and all Letters
of Credit shall have expired or been cancelled, replaced or Cash Collateralized, each Guarantor hereby waives any claim, right
or remedy, direct or indirect, that such Guarantor now has or may hereafter have against any Borrower or any other Guarantor or
any of its assets in connection with this Guaranty or the performance by such Guarantor of its obligations hereunder, in each
case whether such claim, right or remedy arises in equity, under contract, by statute, under common law or otherwise and including
(a) any right of subrogation, reimbursement or indemnification that such Guarantor now has or may hereafter have against any Borrower
with respect to the Guaranteed Obligations, (b) any right to enforce, or to participate in, any claim, right or remedy that any
Beneficiary now has or may hereafter have against any Borrower, and (c) any benefit of, and any right to participate in, any collateral
or security now or hereafter held by any Beneficiary. In addition, until the Guaranteed Obligations (other than Remaining Obligations)
shall have been indefeasibly paid in full and the Revolving Credit Commitments shall have terminated and all Letters of Credit
shall have expired or been cancelled, replaced or Cash Collateralized, each Guarantor shall withhold exercise of any right of
contribution such Guarantor may have against any other guarantor (including any other Guarantor) of the Guaranteed Obligations,
including any such right of contribution as contemplated by Section 7.2. Each Guarantor further agrees that, to the extent the
waiver or agreement to withhold the exercise of its rights of subrogation, reimbursement, indemnification and contribution as
set forth herein is found by a court of competent jurisdiction to be void or voidable for any reason, any rights of subrogation,
reimbursement or indemnification such Guarantor may have against any Borrower or against any collateral or security, and any rights
of contribution such Guarantor may have against any such other guarantor, shall be junior and subordinate to any rights any Beneficiary
may have against any Borrower, to all right, title and interest any Beneficiary may have in any such collateral or security, and
to any right any Beneficiary may have against such other guarantor. If any amount shall be paid to any Guarantor on account of
any such subrogation, reimbursement, indemnification or contribution rights at any time when all Guaranteed Obligations (other
than Remaining Obligations) shall not have been finally and indefeasibly paid in full, such amount shall be held in trust for
the Administrative Agent on behalf of Beneficiaries and shall forthwith be paid over to the Administrative Agent for the benefit
of Beneficiaries to be credited and applied against the Guaranteed Obligations, whether matured or unmatured, in accordance with
the terms hereof and of the other Credit Documents.

 

7.7
Subordination of Other Obligations. Any Indebtedness of the Borrowers or any Guarantor now or hereafter held by any
Guarantor (the “Obligee Guarantor”) is hereby subordinated in right of payment to the Guaranteed Obligations,
and any such indebtedness collected or received by the Obligee Guarantor after an Event of Default has occurred and is continuing
shall be held in trust for the Administrative Agent on behalf of Beneficiaries and shall forthwith be paid over to the Administrative
Agent for the benefit of Beneficiaries to be credited and applied against the Guaranteed Obligations but without affecting, impairing
or limiting in any manner the liability of the Obligee Guarantor under any other provision hereof.

 

7.8
Continuing Guaranty. This Guaranty is a continuing guaranty and shall remain in effect until all of the Guaranteed
Obligations (other than Remaining Obligations) shall have been paid in full and the Revolving Credit Commitments shall have terminated
and all Letters of Credit shall have expired or been cancelled. Each Guarantor hereby irrevocably waives any right to revoke this
Guaranty as to future transactions giving rise to any Guaranteed Obligations.

 

7.9
Authority of Guarantors or the Borrowers. It is not necessary for any Beneficiary to inquire into the capacity or powers
of any Guarantor or the Borrowers or the officers, members of the Board of Directors or any agents acting or purporting to act
on behalf of any of them.

 

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7.10
Financial Condition of the Borrowers. Any Credit Extension may be made to the Borrowers or continued from time to time,
and any Swap Contracts or Cash Management Agreements may be entered into from time to time, in each case without notice to or
authorization from any Guarantor regardless of the financial or other condition of the Borrowers at the time of any such grant
or continuation or at the time such Swap Contract or such Cash Management Agreement is entered into, as the case may be. No Beneficiary
shall have any obligation to disclose or discuss with any Guarantor its assessment, or any Guarantor’s assessment, of the
financial condition of the Borrowers. Each Guarantor has adequate means to obtain information from the Borrowers on a continuing
basis concerning the financial condition of the Borrowers and its ability to perform its obligations under the Credit Documents,
the Swap Contracts and the Cash Management Agreements, and each Guarantor assumes the responsibility for being and keeping informed
of the financial condition of the Borrowers and of all circumstances bearing upon the risk of nonpayment of the Guaranteed Obligations.
Each Guarantor hereby waives and relinquishes any duty on the part of any Beneficiary to disclose any matter, fact or thing relating
to the business, operations or conditions of the Borrowers now known or hereafter known by any Beneficiary.

 

7.11
Bankruptcy, Etc.

 

(a)
So long as any Guaranteed Obligations (other than Remaining Obligations) remain outstanding, no Guarantor shall, without the prior
written consent of the Administrative Agent acting pursuant to the instructions of the Required Lenders, commence or join with
any other Person in commencing any proceeding under any Debtor Relief Law of or against the Borrowers or any other Guarantor.
The obligations of the Guarantors hereunder shall not be reduced, limited, impaired, discharged, deferred, suspended or terminated
by any case or proceeding, voluntary or involuntary, involving the bankruptcy, insolvency, receivership, reorganization, liquidation
or arrangement of the Borrowers or any other Guarantor or by any defense which the Borrowers or any other Guarantor may have by
reason of the order, decree or decision of any court or administrative body resulting from any such proceeding.

 

(b)
Each Guarantor acknowledges and agrees that any interest on any portion of the Guaranteed Obligations which accrues after the
commencement of any case or proceeding referred to in clause (a) above (or, if interest on any portion of the Guaranteed Obligations
ceases to accrue by operation of law by reason of the commencement of such case or proceeding, such interest as would have accrued
on such portion of the Guaranteed Obligations if such case or proceeding had not been commenced) shall be included in the Guaranteed
Obligations because it is the intention of Guarantors and Beneficiaries that the Guaranteed Obligations which are Guaranteed by
Guarantors pursuant hereto should be determined without regard to any rule of law or order which may relieve any Borrower of any
portion of such Guaranteed Obligations. Guarantors will permit any trustee in bankruptcy, receiver, debtor in possession, assignee
for the benefit of creditors or similar Person to pay the Administrative Agent, or allow the claim of the Administrative Agent
in respect of, any such interest accruing after the date on which such case or proceeding is commenced.

 

(c)
If all or any portion of the Guaranteed Obligations are paid by any Borrower, the obligations of Guarantors hereunder shall continue
and remain in full force and effect or be reinstated, as the case may be, if all or any part of such payment(s) are rescinded
or recovered directly or indirectly from any Beneficiary as a preference, fraudulent transfer or otherwise, and any such payments
which are so rescinded or recovered shall constitute Guaranteed Obligations for all purposes hereunder.

 

7.12
Discharge of Guaranty Upon Sale of Guarantor. If all of the Equity Interests of any Guarantor or any of its successors
in interest hereunder shall be sold or otherwise disposed of (including by merger or consolidation) in accordance with the terms
and conditions hereof, the Guaranty of such Guarantor or such successor in interest, as the case may be, hereunder shall automatically
be discharged and released without any further action by any Beneficiary or any other Person effective as of the time of such
sale or disposition.

 

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7.13
Keepwell Agreement. Each Qualified ECP Credit Party, jointly and severally, hereby absolutely, unconditionally and
irrevocably undertakes to provide such funds or other support as may be needed from time to time by any other Credit Party hereunder
to honor all of such Credit Party’s obligations under this Agreement in respect of Swap Contracts (provided, each
Qualified ECP Credit Party shall only be liable under this Section 7.13 for the maximum amount of such liability that can be hereby
incurred without rendering its obligations under this Section 7.13, or otherwise under this Agreement, voidable under applicable
law, including applicable law relating to fraudulent conveyance or fraudulent transfer, and not for any greater amount). The obligations
of each Qualified ECP Credit Party under this Section 7.13 shall remain in full force and effect until all of the Guaranteed Obligations
and all other amounts payable under this Agreement shall have been paid in full and all Commitments have terminated or expired
or been cancelled. Each Qualified ECP Credit Party intends that this Section 7.13 constitute, and this Section 7.13 shall be deemed
to constitute, a “keepwell, support, or other agreement” for the benefit of each other Credit Party for all purposes
of Section 1a(18)(A)(v)(II) of the Commodity Exchange Act.

 

7.14
Maximum Liability. It is the desire and intent of the Guarantor Subsidiaries and the Secured Parties that this Guaranty
shall be enforced against the Guarantor Subsidiaries to the fullest extent permissible under the laws and public policies applied
in each jurisdiction in which enforcement is sought. The provisions of this Guaranty are severable, and in any action or proceeding
involving any state corporate law, or any state, Federal or foreign bankruptcy, insolvency, reorganization or other law affecting
the rights of creditors generally, if the obligations of any Guarantor Subsidiary under this Guaranty would otherwise be held
or determined to be avoidable, invalid or unenforceable on account of the amount of such Guarantor Subsidiary’s liability
under this Guaranty, then, notwithstanding any other provision of this Guaranty to the contrary, the amount of such liability
shall, without any further action by the Guarantor Subsidiaries or the Secured Parties, be automatically limited and reduced to
the highest amount that is valid and enforceable as determined in such action or proceeding (such highest amount determined hereunder
being the relevant Guarantor Subsidiary’s “Maximum Liability”). Each Guarantor Subsidiary agrees that
the Guaranteed Obligations may at any time and from time to time exceed the Maximum Liability of each Guarantor Subsidiary without
impairing this Guaranty or affecting the rights and remedies of the Secured Parties hereunder; provided, nothing in this
sentence shall be construed to increase any Guarantor Subsidiary’s obligations hereunder beyond its Maximum Liability.

 

SECTION
8 EVENTS OF DEFAULT

 

8.1
Events of Default. The occurrence of any one or more of the following conditions or events shall constitute an “Event
of Default”:

 

(a)
Failure to Make Payments When Due. Failure by the Borrowers (i) to pay when due any principal of any Loan, whether at stated
maturity, by acceleration, by notice of voluntary prepayment, by mandatory prepayment or otherwise, (ii) to pay when due any amount
payable to an Issuing Bank in reimbursement of any drawing under a Letter of Credit, (iii) to Cash Collateralize any Letter or
Credit or Swing Line Loan as required pursuant to Section 2.3, Section 2.4 or Section 2.22(a)(v), or (iv) within five (5) Business
Days after the date when due, to pay any interest on any Loan or any fee or any other amount due hereunder or under any other
Credit Document; or

 

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(b)
Default in Other Agreements. (i) Failure of Parent or any of its Restricted Subsidiaries to pay when due any principal
of or interest on any Material Indebtedness (other than Indebtedness incurred under the Credit Documents) beyond the grace period,
if any, provided therefor; or (ii) breach or default by Parent or any of its Restricted Subsidiaries with respect to any other
material term of (A) any Material Indebtedness (other than Indebtedness incurred under the Credit Documents), or (B) any loan
agreement, mortgage, Vessel Mortgage, indenture or other agreement relating to such Material Indebtedness, in each case beyond
the grace period, if any, provided therefor, if the effect of such breach or default is to cause, or to permit the holder or holders
of such Material Indebtedness (or a trustee on behalf of such holder or holders), to cause, such Material Indebtedness to become
or be declared due and payable (or subject to a compulsory repurchase or redeemable) prior to its stated maturity or the stated
maturity of any underlying obligation, as the case may be (other than (1) any required prepayment of Indebtedness secured by a
Permitted Lien that becomes due as the result of the disposition of the assets subject to such Lien so long as such disposition
is permitted by this Agreement or (2) any required repurchase, repayment or redemption of (or offer to repurchase, repay or redeem)
any Indebtedness that was incurred for the specified purpose of financing all or a portion of the consideration for a merger or
acquisition provided that (x) such repurchase, repayment or redemption (or offer to repurchase, repay or redeem) results solely
from the failure of such merger or acquisition to be consummated, (y) such Indebtedness is repurchased, repaid or redeemed in
accordance with its terms and (z) no proceeds of any Loans are used to make such repayment, repurchase or redemption); or

 

(c)
Breach of Certain Covenants. Failure of any Credit Party to perform or comply with any term or condition contained in any
of Sections 5.1(h)(i), 5.2 (as it relates to the existence of any Credit Party) or 6; provided, a breach of Section 6.7
(a “Financial Condition Covenant Event of Default”) shall not constitute an Event of Default with respect to
any Term Loans unless and until the Required Revolving Lenders have declared all amounts outstanding under the Revolving Credit
Facility to be immediately due and payable and all outstanding Revolving Credit Commitments to be immediately terminated in accordance
with Section 8.3 (the “Term Loan Standstill Period”); or

 

(d)
Breach of Representations, Etc. Any representation, warranty or certification made or deemed made by any Credit Party in
any Credit Document at any time given by such Credit Party in writing pursuant hereto or thereto or in connection herewith or
therewith shall be incorrect or misleading in any material respect (except to the extent such representations and warranties,
specifically relate to an earlier date, in which case such representations and warranties shall have been true and correct in
all material respects on and as of such earlier date) or, in the case of any representation or warranty qualified by materiality,
in all respects, in each case, as of the date made or deemed made; or

 

(e)
Other Defaults Under Credit Documents. Any Credit Party shall default in the performance of or compliance with any term
contained herein or any of the other Credit Documents, other than any such term referred to in any other subsection of this Section
8.1, and such default shall not have been remedied or waived (x) in the case of non-compliance with Section 5.1(a) or (b), within
ten (10) Business Days of the date the applicable financial statements were required to have been delivered thereunder and (y)
in the case of any other term contained herein or any of the other Credit Documents other than any such term referred to in any
other subsection of this Section 8.1, within thirty days after the earlier of (i) an Authorized Officer of any Borrower becoming
aware of such default or (ii) receipt by the Borrower Representative of notice from the Administrative Agent or any Lender of
such default; or

 

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(f)
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A court of competent jurisdiction shall enter a decree or order
for relief in respect of Parent or any of its Restricted Subsidiaries in an involuntary case under any Debtor Relief Law now or
hereafter in effect, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal
or state Law; or (ii) an involuntary case shall be commenced against Parent or any of its Restricted Subsidiaries under any Debtor
Relief Law now or hereafter in effect; or a decree or order of a court having jurisdiction in the premises for the appointment
of a receiver, liquidator, sequestrator, trustee, custodian or other officer having similar powers over Parent or any of its Restricted
Subsidiaries, or over all or a substantial part of its property, shall have been entered; or there shall have occurred the involuntary
appointment of an interim receiver, trustee or other custodian of Parent or any of its Restricted Subsidiaries for all or a substantial
part of its property; or a warrant of attachment, execution or similar process shall have been issued against any substantial
part of the property of Parent or any of its Restricted Subsidiaries, and any such event described in this clause (ii) shall continue
for sixty consecutive days without having been dismissed, bonded or discharged; provided, any reference in this Section
8.1(f) to a Restricted Subsidiary shall exclude any Immaterial Subsidiary affected by any event or circumstances referred herein
(it being agreed that all Immaterial Subsidiaries affected by any event or circumstance referred to in any such clause shall be
considered together for purposes of determining whether such Persons, collectively, shall be deemed an Immaterial Subsidiary);
or

 

(g)
Voluntary Bankruptcy; Appointment of Receiver, Etc. (i) Parent or any of its Restricted Subsidiaries shall have an order
for relief entered with respect to it or shall commence a voluntary case under any Debtor Relief Law now or hereafter in effect,
or shall consent to the entry of an order for relief in an involuntary case, or to the conversion of an involuntary case to a
voluntary case, under any such Law, or shall consent to the appointment of or taking possession by a receiver, trustee or other
custodian for all or a substantial part of its property; or Parent or any of its Restricted Subsidiaries shall make any assignment
for the benefit of creditors; or (ii) Parent or any of its Restricted Subsidiaries shall be unable, or shall fail generally, or
shall admit in writing its inability, to pay generally its debts as such debts become due; or (iii) the Board of Directors of
Parent or any of its Restricted Subsidiaries (or any committee thereof) shall adopt any resolution or otherwise authorize any
action to approve any of the actions referred to herein or in Section 8.1(f); provided, any reference in this Section 8.1(g)
to a Restricted Subsidiary shall exclude any Immaterial Subsidiary affected by any event or circumstances referred to herein (it
being agreed that all Immaterial Subsidiaries affected by any event or circumstance referred to in any such clause shall be considered
together for purposes of determining whether such Persons, collectively, shall be deemed an Immaterial Subsidiary); or

 

(h)
Judgments and Attachments. Any money judgment, writ or warrant of attachment or similar process involving in any individual
or aggregate proceeding at any time an amount in excess of $15,000,000 (in each case to the extent not covered by insurance as
to which a solvent and unaffiliated insurance company has not denied, in writing, coverage and less any third party indemnity
and taking into account any deductibles) shall be entered or filed against Parent or any of its Restricted Subsidiaries or any
of their respective assets and shall remain undischarged, unvacated, unbonded or unstayed for a period of sixty consecutive days;
or

 

(i)
Employee Benefit Plans. (i) There shall occur one or more ERISA Events which individually or in the aggregate results in
or could reasonably be expected to result in a Material Adverse Effect; or (ii) there exists any fact or circumstance that results
in the imposition of a Lien pursuant to Section 430(k) of the Code or Section 303(k) or 4068 of ERISA on the assets of Parent
or its Restricted Subsidiaries in excess of $15,000,000 in the aggregate at any one time that primes the Liens that secure the
Obligations; or

 

(j)
Change of Control. A Change of Control shall occur; or

 

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(k)
Guarantees, Collateral Documents and other Credit Documents. At any time after the execution and delivery thereof, (i)
the Guaranty for any reason, other than the satisfaction in full of all Obligations (other than Remaining Obligations), shall
cease to be in full force and effect (other than in accordance with its terms or as a result of the action or inaction of the
Agent, Lenders, Secured Parties or Beneficiaries or any of their respective affiliates, officers, employees, agents, attorneys
or representatives) or shall be declared to be null and void or any Guarantor shall repudiate its obligations thereunder, or (ii)
this Agreement or any material provision of Collateral Document ceases to be in full force and effect (other than by reason of
a release of Collateral in accordance with the terms hereof or thereof or the satisfaction in full of the Obligations (other than
Remaining Obligations) in accordance with the terms hereof or as a result of the action or inaction of the Agent, Lenders, Secured
Parties or Beneficiaries or any of their respective affiliates, officers, employees, agents, attorneys or representatives) or
shall be declared null and void, or the Collateral Agent shall not have or shall cease to have a valid and perfected Lien in a
material portion of the Collateral purported to be covered by the Collateral Documents (taken as a whole) with the priority required
by the relevant Collateral Document, in each case for any reason other than as a result of the action or inaction of the Agent,
Lenders, Secured Parties or Beneficiaries or any of their respective affiliates, officers, employees, agents, attorneys or representatives,
or (iii) any Credit Party shall contest in writing the validity or enforceability of any material provision of any Credit Document
in writing or deny in writing that it has any further liability, including with respect to future advances by the Lenders, under
any Credit Document to which it is a party, or (iv) any Credit Party shall contest in writing the validity or perfection of any
Lien in a material portion of Collateral purported to be covered by the Collateral Documents (taken as a whole); or

 

(l)
Subordination; Lien Priority. (i) Any Junior Financing permitted hereunder or the guarantees thereof, if any, shall cease,
for any reason, to be validly subordinated to the Obligations as provided in applicable Junior Financing Documentation; or (ii)
with respect to any Junior Financing permitted hereunder or the guarantees thereof that is or are secured, the Obligations shall
cease to constitute First Priority Indebtedness (or the equivalent term thereto therein) under the applicable Intercreditor Agreement
or other applicable intercreditor arrangements applicable to such Junior Financing or, in any case, such Intercreditor Agreement
or other applicable intercreditor arrangements shall be invalidated or otherwise cease to be legal, valid and binding obligations
of the parties thereto, enforceable in accordance with their terms (other than pursuant to a Permitted Refinancing of such Junior
Financing).

 

8.2
Acceleration. (a) Upon the occurrence of any Event of Default described in Section 8.1(f) or 8.1(g), automatically,
and (b) upon the occurrence of any other Event of Default, at the request of (or with the consent of) the Required Lenders, upon
notice to the Borrower Representative by the Administrative Agent (or, if a Financial Condition Covenant Event of Default occurs
and is continuing and prior to the expiration of the Term Loan Standstill Period, solely at the request of the Required Revolving
Lenders, and in such case, only with respect to the Revolving Credit Commitments, Revolving Loans, Swing Line Loans, and Letters
of Credit):

 

		(i)	the Commitments and the obligation of an Issuing Bank to issue any Letter of Credit shall immediately
terminate;

 

		(ii)	the aggregate principal of all Loans, all accrued and unpaid interest thereon, all fees and all
other Obligations under this Agreement and the other Credit Documents, together with an amount equal to the Minimum Collateral
Amount (regardless of whether any beneficiary under any such Letter of Credit shall have presented, or shall be entitled at such
time to present, the drafts or other documents or certificates required to draw under such Letters of Credit), shall become due
and payable immediately, without presentment, demand, protest or further notice of any kind, all of which are hereby expressly
waived by each Credit Party; provided, the foregoing shall not affect in any way the obligations of the Lenders under Section
2.3(g) or (h) or Section 2.4(d) or (e);

 

		(iii)	the Borrowers shall immediately comply with the terms of Section 2.4(h) with respect to the deposit
of Cash Collateral to secure the existing Letter of Credit Obligations and future payment of related fees; and

  

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		(iv)	the Administrative Agent may (and at the direction of the Required Lenders or, solely if a Financial
Condition Covenant Event of Default has occurred and is continuing, the Required Revolving Lenders, shall), and may (and at the
direction of the Required Lenders or, solely if a Financial Condition Covenant Event of Default has occurred and is continuing,
the Required Revolving Lenders, shall) cause the Collateral Agent to, exercise any and all of its other rights and remedies under
applicable Law (including the UCC) or at equity, hereunder and under the other Credit Documents.

  

8.3
Application of Payments and Proceeds. After the acceleration of the principal amount of any of the Loans in accordance
with Section 8.2, all payments and proceeds in respect of any of the Obligations received by any Agent or any Lender under any
Credit Document, including any proceeds of any sale of, or other realization upon, all or any part of the Collateral, shall be
applied as follows:

 

first,
to all fees, costs, indemnities, liabilities, obligations and expenses (other than principal and interest) incurred by or owing
to the Administrative Agent, the Collateral Agent or an Issuing Bank with respect to this Agreement, the other Credit Documents
or the Collateral;

 

second,
to all fees, costs, indemnities, liabilities, obligations and expenses (other than principal and interest) incurred by or owing
to any Lender with respect to this Agreement, the other Credit Documents or the Collateral;

 

third,
to accrued and unpaid interest on the Obligations (including any interest which, but for the provisions of the Bankruptcy Code,
would have accrued on such amounts);

 

fourth,
to the principal amount of the Obligations, including in respect of any Secured Swap Contract and Cash Management Obligations,
and including with respect to the deposit of Cash Collateral to secure the existing Letter of Credit Obligations and future payment
of related fees in compliance with Section 2.4(h);

 

fifth,
to any other Indebtedness or obligations of any Credit Party owing to the Administrative Agent, the Collateral Agent, any Issuing
Bank or any Lender under the Credit Documents; and

 

sixth,
to the Borrowers or to whoever may be lawfully entitled to receive such balance or as a court of competent jurisdiction may direct.

 

In
carrying out the foregoing, (a) amounts received shall be applied in the numerical order provided until exhausted prior to the
application to the next succeeding category, and (b) each of the Persons entitled to receive a payment in any particular category
shall receive an amount equal to its pro rata share of amounts available to be applied pursuant thereto for such category. Subject
to Section 2.4 amounts used to Cash Collateralize the aggregate undrawn amount of Letters of Credit pursuant to clause Fourth
above shall be applied to satisfy drawings under such Letters of Credit as they occur. If any amount remains on deposit as
Cash Collateral after all Letters of Credit have either been fully drawn, expired, or supported by back to back letters of credit
reasonably acceptable to the applicable Issuing Bank, such remaining amount shall be applied to the other Obligations, if any,
in the order set forth above and, if no Obligations remain outstanding, to the Borrowers. Each Credit Party irrevocably waives
the right to direct the application of any and all payments at any time or times thereafter received by the Administrative Agent
or the Collateral Agent from or on behalf of any Credit Party, and, as between each Credit Party on the one hand and the Administrative
Agent, the Collateral Agent and the other Secured Parties on the other, the Administrative Agent shall have the continuing and
exclusive right to apply and to reapply any and all payments received against the Obligations in such manner as the Administrative
Agent may deem advisable notwithstanding any previous application by the Administrative Agent (in each case provided such application
is consistent with the foregoing provisions of this Section 8.3).

 

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8.4
Cure Right.

 

(a)
Notwithstanding anything to the contrary contained in Sections 8.1 and 8.2, if Parent fails to comply with the Financial Condition
Covenant as of the end of any Fiscal Quarter in which it is in effect, until the expiration of the tenth Business Day subsequent
to the date the Compliance Certificate for such Fiscal Quarter is required to be delivered pursuant to Section 5.1(c) (the “Cure
Expiration Date”), Parent or the Relevant Public Company or any Ultimate Parent Company shall have the right to issue
Permitted Cure Securities for cash (the amount thereof, the “Cure Amount”), so long as such cash is immediately
contributed to the capital of Parent or the Relevant Public Company as common equity (the “Cure Right”); provided,
(i) no more than five (5) Cure Rights may be exercised after the Closing Date; (ii) no more than two (2) Cure Rights may be exercised
during any consecutive four Fiscal Quarters; and (iii) no Cure Amount shall exceed the amount necessary to cause compliance with
the applicable Financial Condition Covenant for the period then ended.

 

(b)
Upon the receipt by Parent or the Relevant Public Company of the cash proceeds of any capital contribution referred to in Section
8.4(a), Consolidated Adjusted EBITDA for the Fiscal Quarter as to which such Cure Right is exercised (the “Cure Right
Fiscal Quarter”) shall be deemed to have been increased by the Cure Amount in determining the Financial Condition Covenant
for such Cure Right Fiscal Quarter and for any subsequent period that includes such Cure Right Fiscal Quarter; provided,
(i) no increase in Consolidated Adjusted EBITDA on account of the exercise of any Cure Right shall be applicable for any other
purpose under this Agreement or any other Credit Document, including determining of any applicable margin or fee or the availability
or amount of any covenant basket, carve-out or compliance on a Pro Forma Basis with any of the Financial Condition Covenant; (ii)
the prepayment of the Loans with the proceeds of any Cure Amount shall be disregarded in determining the Financial Condition Covenant
for the applicable Cure Right Fiscal Quarter and for any subsequent period that includes such Cure Right Fiscal Quarter; and (iii)
no Cure Amount shall be “netted” in the determination of Indebtedness for the calculation of any leverage ratio (including
the Financial Condition Covenant) in any period that includes the Cure Right Fiscal Quarter.

 

(c)
If immediately after giving effect to the recalculations set forth in Section 8.4(b), Parent shall then be in compliance with
the Financial Condition Covenant, Parent shall be deemed to have satisfied the requirements of such covenants as of the relevant
date of determination with the same effect as though there had been no failure to comply therewith at such date, and the applicable
Event of Default with respect to any such covenant that had occurred shall be deemed cured for all purposes of this Agreement
and the other Credit Documents; provided, neither the Administrative Agent nor any Lender may exercise any rights or remedies
(including any rights or remedies under Section 8.2 or under any other Credit Document or with respect to acceleration of the
Loans, termination of Commitments, foreclosure or possession of any Collateral or otherwise) solely on the basis of any actual
or purported Default or Event of Default for failure to comply with the Financial Condition Covenant until and unless the Cure
Expiration Date has occurred without the Cure Amount having been received; provided further at any time a Financial Condition
Covenant Event of Default shall have occurred and be continuing, notwithstanding the delivery by the Borrower Representative of
written notice stating its intention to cure such Financial Condition Covenant Event of Default, no Lender shall be required to
make any extension of credit hereunder until the Cure Amount is actually received by Parent or the Relevant Public Company.

 

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SECTION
9 AGENTS

 

9.1
Appointment and Authority. Each of the Secured Parties hereby irrevocably appoints BNP Paribas to act on its behalf
as the Administrative Agent hereunder and under the other Credit Documents and authorizes the Administrative Agent to take such
actions on its behalf and to exercise such powers as are delegated to the Administrative Agent by the terms hereof or thereof,
together with such actions and powers as are reasonably incidental thereto. Each of the Secured Parties hereby irrevocably appoints
BNP Paribas to act on its behalf as the Collateral Agent hereunder and under the other Credit Documents and authorizes the Collateral
Agent to take such actions on its behalf and to exercise such powers as are delegated to the Collateral Agent by the terms hereof
or thereof, together with such actions and powers as are reasonably incidental thereto. Except as expressly set forth in Sections
9.6(a) and 9.6(b), the provisions of this Section are solely for the benefit of the Agents, the Lenders and the Issuing Banks,
and neither Parent or any of its Restricted Subsidiaries shall have rights as a third-party beneficiary of any of such provisions.
It is understood and agreed that the use of the term “agent” herein or in any other Credit Documents (or any other
similar term) with reference to an Agent is not intended to connote any fiduciary or other implied (or express) obligations arising
under agency doctrine of any applicable law. Instead such term is used as a matter of market custom, and is intended to create
or reflect only an administrative relationship between contracting parties. Each Secured Party irrevocably authorizes the Administrative
Agent and the Collateral Agent to execute and deliver each Intercreditor Agreement and to take such action, and to exercise the
powers, rights and remedies granted to the Administrative Agent and the Collateral Agent thereunder and with respect thereto,
and by virtue of acceptance or the benefits of the Guaranty and the Collateral Documents, each Secured Party not a party hereto
is deemed to make the aforesaid appointments and authorizations.

 

9.2
Rights as a Lender. The Person serving as an Agent hereunder shall have the same rights and powers in its capacity
as a Lender as any other Lender and may exercise the same as though it were not an Agent, and the term “Lender” or
“Lenders” shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person
serving as an Agent hereunder in its individual capacity. Such Person and its Affiliates may accept deposits from, lend money
to, own Securities of, act as the financial advisor or in any other advisory capacity for, and generally engage in any kind of
business with, Parent or any of its Restricted Subsidiaries or other Affiliate thereof as if such Person were not an Agent hereunder
and without any duty to account therefor to the Lenders.

 

9.3
Exculpatory Provisions.

 

(a)
No Agent shall have any duties or obligations except those expressly set forth herein and in the other Credit Documents, and its
duties hereunder shall be administrative in nature. Without limiting the generality of the foregoing, no Agent:

 

		(i)	shall be subject to any fiduciary or other implied duties, regardless of whether a Default or Event
of Default has occurred and is continuing;

 

		(ii)	shall have any duty to take any discretionary action or exercise any discretionary powers, except
discretionary rights and powers expressly contemplated hereby or by the other Credit Documents that such Agent is required to exercise
as directed in writing by the Required Lenders (or such other number or percentage of the Lenders as shall be expressly provided
for herein or in the other Credit Documents); provided, no Agent shall be required to take any action that, in its opinion
or the opinion of its counsel, may expose such Agent to liability or that is contrary to any Credit Document or applicable law,
including for the avoidance of doubt any action that may be in violation of the automatic stay under any Debtor Relief Law or that
may effect a forfeiture, modification or termination of property of a Defaulting Lender in violation of any Debtor Relief Law;
and

  

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		(iii)	shall, except as expressly set forth herein and in the other Credit Documents, have any duty to
disclose, or be liable for the failure to disclose, any information relating to the Borrowers or any of their respective Affiliates
that is communicated to or obtained by the Person serving as an Agent or any of its Affiliates in any capacity.

  

(b)
No Agent shall be liable to any Secured Party for any action taken or not taken by it (i) with the consent or at the request of
the Required Lenders (or such other number or percentage of the Lenders as shall be necessary, or as such Agent shall believe
in good faith shall be necessary, under the circumstances as provided in Sections 10.5 and Sections 8.1, 8.2 and 8.3), or (ii)
in the absence of its own gross negligence or willful misconduct as determined by a court of competent jurisdiction by final and
nonappealable judgment. No Agent shall be deemed to have knowledge of any Default or Event of Default unless and until notice
describing such Default is given to such Agent in writing by the Borrower Representative, a Lender or an Issuing Bank.

 

(c)
No Agent shall be responsible for or have any duty to ascertain or inquire into (i) any statement, warranty or representation
made in or in connection with this Agreement or any other Credit Document, (ii) the contents of any certificate, report or other
document delivered hereunder or thereunder or in connection herewith or therewith, (iii) the performance or observance by any
other Persons party hereto of any of the covenants, agreements or other terms or conditions set forth herein or therein or the
occurrence of any Default, (iv) the validity, enforceability, effectiveness or genuineness of this Agreement, any other Credit
Document or any other agreement, instrument or document, (v) the satisfaction of any condition set forth in Section 3 or elsewhere
herein, other than to confirm receipt of items expressly required to be delivered to such Agent, or (vi) compliance by Affiliated
Lenders with the terms hereof relating to Affiliated Lenders. In addition, no Agent shall be responsible or have any liability
for, or have any duty to ascertain, inquire into, monitor or enforce, compliance with the provisions hereof relating to Disqualified
Institutions. Without limiting the generality of the foregoing, no Agent shall ‎(x) be obligated to ascertain, monitor or
inquire as to whether any Lender or participant or prospective Lender or participant is a Disqualified Institution or (y) have
any liability with respect to or arising out of any assignment or participation of loans, or disclosure of confidential information,
to, or the restrictions on any exercise of rights or remedies of, any Disqualified Institution.

 

9.4
Reliance by Agents. Each Agent shall be entitled to rely upon, and shall not incur any liability for relying upon,
any notice, request, certificate, consent, statement, instrument, document or other writing (including any electronic message,
Internet or intranet website posting or other distribution) believed by it to be genuine and to have been signed, sent or otherwise
authenticated by the proper Person. Each Agent also may rely upon any statement made to it orally or by telephone and believed
by it to have been made by the proper Person, and shall not incur any liability for relying thereon. In determining compliance
with any condition hereunder to the making of a Loan, or the issuance, extension, renewal or increase of a Letter of Credit, that
by its terms must be fulfilled to the satisfaction of a Lender or an Issuing Bank, each Agent may presume that such condition
is satisfactory to such Lender or such Issuing Bank unless such Agent shall have received notice to the contrary from such Lender
or such Issuing Bank prior to the making of such Loan or the issuance of such Letter of Credit. Each Agent may consult with legal
counsel (who may be counsel for the Borrowers), independent accountants and other experts selected by it, and shall not be liable
for any action taken or not taken by it in accordance with the advice of any such counsel, accountants or experts.

 

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9.5
Delegation of Duties. Each Agent may perform any and all of its duties and exercise its rights and powers hereunder
or under any other Credit Document by or through any one or more sub-agents (which are not Disqualified Institutions) appointed
by such Agent. Each Agent and any such sub agent may perform any and all of its duties and exercise its rights and powers by or
through their respective Related Parties. The exculpatory provisions of this Section shall apply to any such sub agent and to
the Related Parties of each Agent and any such sub-agent, and shall apply to their respective activities in connection with the
syndication of the Loans and Commitments as well as activities as such Agent. No Agent shall be responsible for the negligence
or misconduct of any sub-agents except to the extent that a court of competent jurisdiction determines in a final and non-appealable
judgment that such Agent acted with gross negligence or willful misconduct in the selection of such sub-agents.

 

9.6
Resignation of the Administrative Agent.

 

(a)
Each Agent may at any time give notice of its resignation to the Lenders, the Issuing Banks and the Borrower Representative. Upon
receipt of any such notice of resignation, the Required Lenders shall have the right to appoint from among the Lenders a successor
with the consent of the Borrower Representative; provided, (x) no such consent of the Borrower Representative shall be
required while an Event of Default under Section 8.1(a) or, with respect to Parent, any Holding Company or any Borrower, (f) or
(g) exists and (y) such consent shall not be unreasonably withheld, delayed or conditioned, and shall be deemed to have been given
unless the Borrower Representative shall have objected to such appointment by written notice to the Administrative Agent within
seven (7) Business Days after having received notice thereof. If no such successor shall have been so appointed by the Required
Lenders and shall have accepted such appointment within thirty days after the retiring Agent gives notice of its resignation (or
such earlier day as shall be agreed by the Required Lenders) (the “Resignation Effective Date”), then the retiring
Agent may (but shall not be obligated to), on behalf of the Lenders and the Issuing Banks, appoint a successor Agent meeting the
qualifications set forth above; provided, in no event shall any such successor Administrative Agent be a Defaulting Lender,
an Affiliated Lender or a Disqualified Institution as of the date of appointment thereof. Whether or not a successor has been
appointed, such resignation shall become effective in accordance with such notice on the Resignation Effective Date.

 

(b)
If the Person serving as an Agent is a Defaulting Lender pursuant to clause (iv) of the definition thereof, the Required Lenders
may, to the extent permitted by applicable law, by notice in writing to the Borrower Representative and such Person remove such
Person as an Agent and, with the consent of the Borrower Representative (provided, (x) no such consent of the Borrower
Representative shall be required while an Event of Default under clause (a) or, with respect to Parent, any Holding Company or
any Borrower, clause (f) or (g) of Section 8.1 exists and (y) such consent shall not be unreasonably withheld, delayed or conditioned,
and shall be deemed to have been given unless the Borrower Representative shall have objected to such appointment by written notice
to the Administrative Agent within seven (7) Business Days after having received notice thereof), appoint a successor from among
the Lenders. If no such successor shall have been so appointed by the Required Lenders and shall have accepted such appointment
within thirty days (or such earlier day as shall be agreed by the Required Lenders) (the “Removal Effective Date”),
then such removal shall nonetheless become effective in accordance with such notice on the Removal Effective Date.

 

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(c)
With effect from the Resignation Effective Date or the Removal Effective Date (as applicable) (i) the retiring or removed Agent
shall be discharged from its duties and obligations hereunder and under the other Credit Documents, (except that in the case of
any Collateral held by the Collateral Agent on behalf of the Secured Parties, the retiring or removed the Collateral Agent shall
continue to hold such Collateral until such time as a successor Collateral Agent is appointed) and (ii) all payments, communications
and determinations provided to be made by, to or through such Agent shall instead be made by or to each Lender and each Issuing
Bank directly, until such time, if any, as the Required Lenders appoint a successor Agent as provided for above. Upon the acceptance
of a successor’s appointment as an Agent hereunder, such successor shall succeed to and become vested with all of the rights,
powers, privileges and duties of the retiring or removed Agent, and the retiring or removed Agent shall be discharged from all
of its duties and obligations hereunder or under the other Credit Documents. The fees payable by the Borrowers to a successor
Agent shall be the same as those payable to its predecessor unless otherwise agreed between the Borrowers and such successor.
After the retiring or removed Agent’s resignation or removal hereunder and under the other Credit Documents, the provisions
of this Section and Sections 10.2 and 10.3 shall continue in effect for the benefit of such retiring or removed Agent, its sub
agents and their respective Related Parties in respect of any actions taken or omitted to be taken by any of them while the retiring
or removed Agent was acting as an Agent.

 

9.7
Non-Reliance on Agents and Other Lenders.

 

(a)
Each Lender and each Issuing Bank acknowledges that it has, independently and without reliance upon either Agent or any other
Lender or any of their Related Parties and based on such documents and information as it has deemed appropriate, made its own
credit analysis and decision to enter into this Agreement. Each Lender and each Issuing Bank also acknowledges that it will, independently
and without reliance upon any Agent or any other Lender or any of their Related Parties and based on such documents and information
as it shall from time to time deem appropriate, continue to make its own decisions in taking or not taking action under or based
upon this Agreement, any other Credit Document or any related agreement or any document furnished hereunder or thereunder. Without
limiting the foregoing, each Lender and each Issuing Bank acknowledges and agrees that neither such Lender or such Issuing Bank,
nor any of its respective Affiliates, participants or assignees, may rely on the Administrative Agent to carry out such Lender’s,
Issuing Bank’s Affiliate’s, participant’s or assignee’s customer identification program, or other obligations
required or imposed under or pursuant to the PATRIOT Act or the regulations thereunder, including the regulations contained in
31 C.F.R. 103.121 (as hereafter amended or replaced, the “CIP Regulations”), or any other Anti-Terrorism Law,
including any programs involving any of the following items relating to or in connection with any of the Credit Parties, their
Affiliates or their agents, the Credit Documents or the transactions hereunder or contemplated hereby: (a) any identity verification
procedures, (b) any recordkeeping, (c) comparisons with government lists, (d) customer notices or (e) other procedures required
under the CIP Regulations or such other Laws.

 

(b)
Each Lender and each Issuing Bank represents and warrants as of the Closing Date to the Administrative Agent and the Lead Arranger
and their respective Affiliates and the Borrowers or each other Credit Party, that such Lender is not and will not be (i) an employee
benefit plan subject to Title I of ERISA; (ii) a plan or account subject to Section 4975 of the Code; (iii) an entity deemed to
hold “plan assets” of any such plans or accounts within the meaning of Section 3(42) of ERISA; or (iv) a “governmental
plan” within the meaning of ERISA.

 

9.8
No Other Duties, Etc. Anything herein to the contrary notwithstanding, no Lead Arranger listed on the cover page hereof
shall have any powers, duties or responsibilities under this Agreement or any of the other Credit Documents, except in its capacity,
as applicable, as an Agent, a Lender or an Issuing Bank hereunder.

 

9.9
Administrative Agent May File Proofs of Claim. In case of the pendency of any proceeding under any Debtor Relief Law
or any other judicial proceeding relative to any Credit Party, the Administrative Agent (irrespective of whether the principal
of any Loan or Letter of Credit shall then be due and payable as herein expressed or by declaration or otherwise and irrespective
of whether the Administrative Agent shall have made any demand on the Borrowers) shall be entitled and empowered (but not obligated)
by intervention in such proceeding or otherwise:

 

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(a)
to file and prove a claim for the whole amount of the principal and interest owing and unpaid in respect of the Loans, Letter
of Credit Obligations and all other Obligations that are owing and unpaid and to file such other documents as may be necessary
or advisable to have the claims of the Lenders, the Issuing Banks and the Administrative Agent (including any claim for the reasonable
compensation, expenses, disbursements and advances of the Lenders, the Issuing Banks and the Administrative Agent and their respective
agents and counsel and all other amounts due the Lenders, the Issuing Banks and the Administrative Agent under Sections 2.4, 2.11,
10.2 and 10.3) allowed in such judicial proceeding; and

 

(b)
to collect and receive any monies or other property payable or deliverable on any such claims and to distribute the same;

 

(c)
and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such judicial proceeding
is hereby authorized by each Lender and each Issuing Bank to make such payments to the Administrative Agent and, if the Administrative
Agent shall consent to the making of such payments directly to the Lenders and the Issuing Banks, to pay to the Administrative
Agent any amount due for the reasonable compensation, expenses, disbursements and advances of the Administrative Agent and its
agents and counsel, and any other amounts due the Administrative Agent under Sections 2.4, 2.11, 10.2 and 10.3.

 

9.10
Collateral Documents and Guaranty.

 

(a)
The Secured Parties irrevocably authorize the Collateral Agent, at its option and in its discretion,

 

		(i)	to release any Lien on any property granted to or held by the Collateral Agent under any Credit
Document (x) upon termination of all Commitments and payment in full of all Obligations (other than Remaining Obligations) and
the expiration, termination or Cash Collateralization of all Letters of Credit (other than Letters of Credit as to which other
arrangements satisfactory to the Administrative Agent and the Issuing Bank shall have been made), (y) that is sold or otherwise
disposed of or to be sold or otherwise disposed of as part of or in connection with any sale or other disposition permitted under
the Credit Documents, or (z) subject to Section 10.5, if approved, authorized or ratified in writing by the Required Lenders;

 

		(ii)	to subordinate any Lien on any property granted to or held by the Collateral Agent under any Credit
Document to the holder of any Lien on such property that is permitted by Section 6.2(f) or 6.2(g); and

 

		(iii)	to release any Guarantor from its obligations under the Guaranty if such Person ceases to be a
Restricted Subsidiary as a result of a transaction permitted under the Credit Documents.

 

Upon
request by the Collateral Agent at any time, the Required Lenders will confirm in writing the Collateral Agent’s authority
to release or subordinate its interest in particular types or items of property, or to release any Guarantor from its obligations
under the Guaranty pursuant to this Section 9.10(a). If any Collateral is disposed of as permitted by Section 6.9 to any Person
other than a Credit Party, such Collateral shall be sold free and clear of the Liens created by the Credit Documents and the Administrative
Agent or the Collateral Agent, as applicable, shall, at the expense of the Borrowers, take any and all actions reasonably requested
by the Borrower Representative to effect the foregoing (provided that if requested by the Administrative Agent the Borrower Representative
shall provide a certification that such disposition is permitted by this Agreement).

 

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(b)
Anything contained in any of the Credit Documents to the contrary notwithstanding, each Credit Party, the Administrative Agent,
the Collateral Agent and each Secured Party hereby agree that (i) no Secured Party shall have any right individually to realize
upon any of the Collateral or to enforce the Guaranty, it being understood and agreed that all powers, rights and remedies hereunder
and under any of the Credit Documents may be exercised solely by the Administrative Agent or the Collateral Agent, as applicable,
for the benefit of the Secured Parties in accordance with the terms hereof and thereof and all powers, rights and remedies under
the Collateral Documents may be exercised solely by the Collateral Agent for the benefit of the Secured Parties in accordance
with the terms thereof, and (ii) if a foreclosure or similar enforcement action by the Collateral Agent on any of the Collateral
pursuant to a public or private sale or other disposition occurs (including pursuant to section 363(k), section 1129(b)(2)(a)(ii)
or otherwise of the Bankruptcy Code), the Collateral Agent (or any Lender, except with respect to a “credit bid” pursuant
to section 363(k), section 1129(b)(2)(a)(ii) or otherwise of the Bankruptcy Code) may be the purchaser or licensor of any or all
of such Collateral at any such sale or other disposition and the Collateral Agent, as agent for and representative of Secured
Parties (but not any Lender or Lenders in its or their respective individual capacities) shall be entitled, upon instructions
from Required Lenders, for the purpose of bidding and making settlement or payment of the purchase price for all or any portion
of the Collateral sold at any such sale or disposition, to use and apply any of the Obligations as a credit on account of the
purchase price for any collateral payable by the Collateral Agent at such sale or other disposition.

 

(c)
None of the Administrative Agent or the Collateral Agent shall be responsible for or have a duty to ascertain or inquire into
any representation or warranty regarding the existence, value or collectability of the Collateral, the existence, priority or
perfection of the Lien thereon granted under the Credit Documents, or any certificate prepared by any Credit Party in connection
therewith, and none of the Administrative Agent or the Collateral Agent shall be responsible or liable to any Secured Party for
any failure to monitor or maintain any portion of the Collateral.

 

(d)
No Secured Swap Contract will create (or be deemed to create) in favor of any Eligible Counterparty that is a party thereto any
rights in connection with the management or release of any Collateral or of the obligations of any Guarantor under the Credit
Documents except as expressly provided in Section 8.3 and Section 10.5(d)(iv). By accepting the benefits of the Collateral, such
Eligible Counterparty shall be deemed to have appointed the Collateral Agent as its agent and agreed to be bound by the Credit
Documents as a Secured Party, subject to the limitations set forth in this clause (d).

 

(e)
No Cash Management Agreement will create (or be deemed to create) in favor of any Cash Management Bank that is a party thereto
any rights in connection with the management or release of any Collateral or of the obligations of any Guarantor under the Credit
Documents except as expressly provided in Section 8.3 and Section 10.5(d)(iv). By accepting the benefits of the Collateral, each
Cash Management Bank shall be deemed to have appointed the Collateral Agent as its agent and agreed to be bound by the Credit
Documents as a Secured Party, subject to the limitations set forth in this clause (e).

 

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9.11
Withholding Taxes. To the extent required by any applicable Law, the Administrative Agent may withhold from any payment
to any Lender an amount equivalent to any applicable withholding Tax. If the IRS or any other Governmental Authority asserts a
claim that the Administrative Agent did not properly withhold Tax from amounts paid to or for the account of any Lender because
the appropriate form was not delivered, was not properly executed or was invalid or because such Lender failed to notify the Administrative
Agent of a change in circumstance which rendered the exemption from, or reduction of, withholding Tax ineffective or for any other
reason, such Lender shall indemnify the Administrative Agent fully for all amounts paid, directly or indirectly, by the Administrative
Agent as Tax or otherwise, including any penalties or interest and together with all expenses (limited, in the case of legal fees
and expenses, to the actual reasonable and documented and out-of-pocket fees, charges and disbursements of one primary outside
legal counsel and, if necessary or appropriate, one local counsel in each relevant material jurisdiction) incurred, whether or
not such Tax was correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate as to the amount
of such payment or liability delivered to any Lender by the Administrative Agent shall be conclusive absent manifest error. Each
Lender hereby authorizes the Administrative Agent to set off and apply any and all amounts at any time owing to such Lender under
this Agreement or any other Credit Document against any amount due the Administrative Agent under this Section 9.11. For the avoidance
of doubt, (a) the term “Lender” shall, for purposes of this Section 9.11, include the Issuing Banks and any Swing
Line Lender and (b) this Section 9.11 shall not limit or expand the obligations of the Borrowers or any other Credit Party under
Section 2.20 or any other provision of this Agreement.

 

SECTION
10 MISCELLANEOUS

 

10.1
Notices.

 

(a)
Notices Generally. Except in the case of notices and other communications expressly permitted to be given by telephone
(and except as provided in Section 10.1(b)), all notices and other communications provided for herein shall be in writing and
shall be delivered by hand or overnight courier service, mailed by certified or registered mail or sent by facsimile, if to any
Credit Party, an Agent, an Issuing Bank or the Swing Line Lender, to it at its address (or facsimile number) as set forth on Appendix
B, or if to a Lender, to it at its address (or facsimile number) set forth in its Administrative Questionnaire. Notices sent by
hand or overnight courier service, or mailed by certified or registered mail, shall be deemed to have been given when received;
notices sent by facsimile shall be deemed to have been given when sent (except that, if not given during normal business hours
for the recipient, shall be deemed to have been given at the opening of business on the next Business Day for the recipient).
Notices delivered through electronic communications, to the extent provided in Section 10.1(b), shall be effective as provided
in Section 10.1(b).

 

(b)
Electronic Communications. Notices and other communications to the Lenders and the Issuing Banks hereunder may be delivered
or furnished by electronic communication (including e mail and Internet or intranet websites) pursuant to procedures approved
by the Administrative Agent, provided, the foregoing shall not apply to Notices to any Lender or any Issuing Bank if such
Lender or such Issuing Bank, as applicable, has notified the Administrative Agent that it is incapable of receiving Notices by
electronic communication. The Administrative Agent or the Borrower Representative may, in its discretion, agree to accept notices
and other communications to it hereunder by electronic communications pursuant to procedures approved by it; provided,
approval of such procedures may be limited to particular notices or communications. Unless the Administrative Agent otherwise
prescribes, (i) notices and other communications sent to an e-mail address shall be deemed received upon the sender’s receipt
of an acknowledgement from the intended recipient (such as by the “return receipt requested” function, as available,
return e-mail or other written acknowledgement), and (ii) notices or communications posted to an Internet or intranet website
shall be deemed received upon the deemed receipt by the intended recipient, at its e-mail address as described in the foregoing
clause (i), of notification that such notice or communication is available and identifying the website address therefore; provided,
for both clauses (i) and (ii) above, if such notice, email or other communication is not sent during the normal business hours
of the recipient, such notice or communication shall be deemed to have been sent at the opening of business on the next business
day for the recipient.

 

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(c)
Change of Address, Etc. Any party hereto may change its address or facsimile number for notices and other communications
hereunder by notice to the other parties hereto.

 

(d)
Platform.

 

		(i)	Each Credit Party agrees that the Administrative Agent may, but shall not be obligated to, make
the Communications (as defined below) available to the Issuing Banks and the other Lenders by posting the Communications on Debt
Domain, IntraLinks, Syndtrak or a substantially similar electronic transmission system (the “Platform”). The
Borrowers acknowledge and agree that the DQ List (if any) shall be deemed suitable for posting and may be posted by the Administrative
Agent on the Platform, including the portion of the Platform that is designated for “public side” Lenders.

 

		(ii)	The Platform is provided “as is” and “as available.” The Agent Parties
(as defined below) do not warrant the adequacy of the Platform and expressly disclaim liability for errors or omissions in the
Communications. No warranty of any kind, express, implied or statutory, including any warranty of merchantability, fitness for
a particular purpose, non-infringement of third-party rights or freedom from viruses or other code defects, is made by any Agent
Party in connection with the Communications or the Platform. In no event shall the Administrative Agent or any of its Related Parties
(collectively, the “Agent Parties”) have any liability to the Borrowers or the other Credit Parties, any Lender
or any other Person or entity for damages of any kind, including direct or indirect, special, incidental or consequential damages,
losses or expenses (whether in tort, contract or otherwise) arising out of the Borrowers’, any Credit Party’s or the
Administrative Agent’s transmission of communications through the Platform. “Communications” means, collectively,
any notice, demand, communication, information, document or other material that any Credit Party provides to the Administrative
Agent pursuant to any Credit Document or the transactions contemplated therein which is distributed to the Administrative Agent,
any Lender or any Issuing Bank by means of electronic communications pursuant to this Section, including through the Platform.

  

10.2
Expenses. The Borrowers shall pay (a) all reasonable and documented out of pocket expenses incurred by the Administrative
Agent and its Affiliates (limited, in the case of legal fees and expenses, to the actual reasonable, documented and invoiced out-of-pocket
fees, disbursements and other charges of one primary outside legal counsel for the Administrative Agent and, if necessary or appropriate,
one local counsel in each relevant jurisdiction), in connection with the syndication of the Loans and Commitments, the preparation,
negotiation, execution, delivery and administration of this Agreement and the other Credit Documents, or any amendments, modifications
or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated),
(b) all reasonable and documented out of pocket expenses incurred by an Issuing Bank in connection with the issuance, amendment,
renewal or extension of any Letter of Credit or any demand for payment thereunder, and (c) all documented out of pocket expenses
incurred by the Administrative Agent, any Lender or any Issuing Bank (limited, in the case of legal fees and expenses, to the
actual reasonable and documented out of pocket fees, charges and disbursements of one primary outside counsel for all such persons
taken as a whole (and, solely in the case of a conflict of interest, one additional counsel for all such persons taken as a whole)
and if necessary or appropriate, of one local counsel in each relevant material jurisdiction (and solely in the case of a conflict
of interest, one additional conflicts counsel)) in connection with the enforcement or protection of its rights (A) in connection
with this Agreement and the other Credit Documents, including its rights under this Section, or (B) in connection with the Loans
made or Letters of Credit issued hereunder, including all such documented out of pocket expenses incurred during any workout,
restructuring or negotiations in respect of such Loans or Letters of Credit.

 

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10.3
Indemnity; Certain Waivers.

 

(a)
Indemnification by Borrowers. The Borrowers shall indemnify each Agent (and any sub-agent thereof), each Lender and each
Issuing Bank, and each Related Party of any of the foregoing Persons (each such Person being called an “Indemnitee”)
against, and hold each Indemnitee harmless from, any and all losses, claims, damages, liabilities and related expenses (limited,
in the case of legal fees and expenses, to the actual reasonable, documented and invoiced out-of-pocket fees, disbursements and
other charges of one common counsel for all Indemnitees taken as a whole and, solely in the case of a conflict of interest, one
additional conflicts counsel to all affected Indemnitees and, if reasonably necessary, one local counsel in each relevant material
jurisdiction to all Indemnitees)), incurred by any Indemnitee or asserted against any Indemnitee by any Person (including Parent
or any of its Restricted Subsidiaries) other than such Indemnitee and its Related Parties to the extent arising out of, in connection
with, or as a result of (i) the execution or delivery of this Agreement, any other Credit Document or any agreement or instrument
contemplated hereby or thereby, the performance by the parties hereto of their respective obligations hereunder or thereunder
or the consummation of the transactions contemplated hereby or thereby, (ii) any Loan or Letter of Credit or the use or proposed
use of the proceeds therefrom (including any refusal by an Issuing Bank to honor a demand for payment under a Letter of Credit
if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii)
any actual or alleged presence or Release of Hazardous Materials on or from any property owned or operated by the Borrowers or
the Restricted Subsidiaries, or any Environmental Liability related in any way to the Borrowers or the Restricted Subsidiaries,
or (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based
on contract, tort or any other theory, whether brought by a third party or by Parent or any of its Restricted Subsidiaries, and
regardless of whether any Indemnitee is a party thereto; provided, such indemnity shall not, as to any Indemnitee, be available
to the extent that such losses, claims, damages, liabilities or related expenses (w) are determined by a court of competent jurisdiction
by final and nonappealable judgment to have resulted from the gross negligence, bad faith or willful misconduct of such Indemnitee,
(x) result from a claim brought by Parent or any of its Restricted Subsidiaries against an Indemnitee for material breach of such
Indemnitee’s obligations hereunder or under any other Credit Document, if Parent or any of its Restricted Subsidiaries has
obtained a final and nonappealable judgment in its favor on such claim as determined by a court of competent jurisdiction, (y)
result from disputes solely among such Indemnitees (other than claims against an Indemnitee acting in its capacity as the Administrative
Agent or Joint Lead Arranger) and not arising out of any act or omission of Sponsor, Parent or any of its Restricted Subsidiaries,
or (z) relate to Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim.

 

(b)
Reimbursement by Lenders. To the extent that the Borrowers for any reason fail to indefeasibly pay any amount required
under Section 10.2 or Section 10.3(a) to be paid by it to an Agent (or any sub-agent thereof), the Issuing Banks, the Swing Line
Lender or any Related Party of any of the foregoing, each Lender severally agrees to pay to such Agent (or any such sub-agent),
such Issuing Bank, the Swing Line Lender or such Related Party, as the case may be, such Lender’s Pro Rata Share (determined
as of the time that the applicable unreimbursed expense or indemnity payment is sought) of such unpaid amount (including any such
unpaid amount in respect of a claim asserted by such Lender); provided, with respect to such unpaid amounts owed to such
Issuing Bank or Swing Line Lender solely in its capacity as such, only the Revolving Lenders shall be required to pay such unpaid
amounts, such payment to be made severally among them based on such Revolving Lenders’ Pro Rata Share (determined as of
the time that the applicable unreimbursed expense or indemnity payment is sought) provided further, the unreimbursed expense
or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against an Agent
(or any such sub-agent), an Issuing Bank or the Swing Line Lender in its capacity as such, or against any Related Party of any
of the foregoing acting for such Agent (or any such sub-agent), such Issuing Bank or any the Swing Line Lender in connection with
such capacity. The obligations of the Lenders under this Section 10.3(b) are subject to the provisions of Section 10.12.

 

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(c)
Waiver of Consequential Damages, Etc. To the fullest extent permitted by applicable law, no party hereto or any beneficiary
hereof shall assert, and each party hereto and beneficiary hereof hereby waives, any claim against any Indemnitee or any other
party hereto, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual
damages) arising out of, in connection with, or as a result of, this Agreement, any other Credit Document or any agreement or
instrument contemplated hereby, the transactions contemplated hereby or thereby, any Loan or Letter of Credit, or the use of the
proceeds thereof. No Indemnitee shall be liable for any damages arising from the use by unintended recipients of any information
or other materials distributed by it through telecommunications, electronic or other information transmission systems in connection
with this Agreement or the other Credit Documents or the transactions contemplated hereby or thereby; provided, nothing
contained in this clause (c) shall limit any of the Borrowers’ indemnification and reimbursement obligations to the extent
expressly set forth herein.

 

(d)
Payments. All amounts due under Sections 10.2 and Section 10.3 shall be payable promptly after demand therefor.

 

(e)
Survival. Each party’s obligations under Sections 10.2 and 10.3 shall survive the termination of the Credit Documents
and payment of the obligations hereunder.

 

10.4
Set-Off. If an Event of Default shall have occurred and be continuing, each Lender, each Issuing Bank, and each of
their respective Affiliates is hereby authorized at any time and from time to time, to the fullest extent permitted by applicable
law, to set off and apply any and all deposits (general or special, time or demand, provisional or final, in whatever currency
but excluding deposits in any trust, payroll, cash collateral or other similar account) at any time held, and other obligations
(in whatever currency) at any time owing, by such Lender, such Issuing Bank or any such Affiliate, to or for the credit or the
account of the Borrowers or any other Credit Party against any and all of the obligations of the Borrowers or such Credit Party
now or hereafter existing under this Agreement or any other Credit Document to such Lender or such Issuing Bank or their respective
Affiliates, irrespective of whether or not such Lender, such Issuing Bank or Affiliate shall have made any demand under this Agreement
or any other Credit Document and although such obligations of the Borrowers or such Credit Party may be contingent or unmatured
or are owed to a branch, office or Affiliate of such Lender or such Issuing Bank different from the branch, office or Affiliate
holding such deposit or obligated on such indebtedness; provided, if any Defaulting Lender shall exercise any such right
of setoff, (x) all amounts so set off shall be paid over immediately to the Administrative Agent for further application in accordance
with the provisions of Section 2.22 and, pending such payment, shall be segregated by such Defaulting Lender from its other funds
and deemed held in trust for the benefit of the Administrative Agent, the Issuing Banks, and the Lenders, and (y) the Defaulting
Lender shall provide promptly to the Administrative Agent a statement describing in reasonable detail the Obligations owing to
such Defaulting Lender as to which it exercised such right of setoff. The rights of each Lender, each Issuing Bank and their respective
Affiliates under this Section are in addition to other rights and remedies (including other rights of setoff) that such Lender,
such Issuing Bank or their respective Affiliates may have. Each Lender and each Issuing Bank agrees to notify the Borrower Representative
and the Administrative Agent promptly after any such setoff and application; provided, the failure to give such notice
shall not affect the validity of such setoff and application.

 

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10.5
Amendments and Waivers.

 

(a)
Required Lenders’ Consent. Subject to the additional requirements of Sections 10.5(b), 10.5(c) and 10.5(d), no amendment,
modification, termination or waiver of any term or condition of any Credit Document, or consent to any departure by any Credit
Party therefrom, shall be effective without the written concurrence of the Required Lenders (other than (i) as provided in Section
2.24 with respect to an Extension Amendment, (ii) as provided in Section 2.25 with respect to any Joinder Agreement, and (iii)
as provided in Section 2.26 with respect to a Permitted Refinancing Amendment); provided, the Administrative Agent may,
with the consent of the Borrower Representative only, amend, modify or supplement this Agreement to (x) cure any ambiguity, omission,
mistake, defect or inconsistency, in each case, of a technical, immaterial or obvious nature, (y) comply with law or advice of
local or regulatory counsel or (z) notwithstanding anything to the contrary contained herein (including for the avoidance of doubt
Section 10.6(a)(i)), further permit and reflect the occurrence of a SPAC Transaction, including without limitation replacing references
herein or in any other Credit Document to Parent or any Borrower (including the Borrower Representative) with references to the
Relevant Public Company resulting therefrom and as is otherwise necessary or appropriate to reflect the resulting public company
nature of the Credit Parties, so long as no Agent, Issuing Bank or Lender shall have objected thereto in writing within five (5)
Business Days of such amendment, modification or supplement being posted to the Platform or otherwise delivered to such Person.

 

(b)
Affected Lenders’ Consent. No amendment, modification, termination or waiver of any term or condition of any Credit
Document, or consent to any departure by any Credit Party therefrom, shall:

 

		(i)	extend the scheduled final maturity of any Loan without the written consent of the Lender holding
such Loan;

 

		(ii)	extend the Scheduled Revolving Credit Commitment Termination Date without the written consent of
each Revolving Lender that is affected thereby;

 

		(iii)	extend the stated expiration date of any Letter of Credit beyond the Scheduled Revolving Credit
Commitment Termination Date without the written consent of each Revolving Lender that is affected thereby;

 

		(iv)	reduce the principal amount of any Loan without the written consent of the Lender holding such
Loan;

 

		(v)	reduce any reimbursement obligation in respect of any Letter of Credit without the written consent
of each Revolving Lender;

 

		(vi)	increase the Revolving Credit Commitment of any Lender without the written consent of such Lender;
provided, no amendment, modification or waiver of any condition precedent, covenant, Default or Event of Default shall constitute
an increase in any Revolving Credit Commitment of any Lender;

 

		(vii)	waive, reduce or postpone any scheduled repayment (but not mandatory or voluntary prepayment) of
the principal amount of any Loan without the written consent of the Lender holding such Loan;

  

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		(viii)	reduce the rate of interest on any Loan (other than any waiver of any increase in the interest
rate applicable to any Loan pursuant to Section 2.10) without the written consent of the Lender holding such Loan;

 

		(ix)	reduce any fee or premium payable under any Credit Document without the written consent of the
Lender that is entitled to receive such fee or premium;

 

		(x)	extend the time for payment of any interest (other than an interest that is payable pursuant to
Section 2.10) on any Loan without the written consent of the Lender holding such Loan;

 

		(xi)	extend the time for payment of any fee or premium payable under any Credit Document without the
written consent of the Lender that is entitled to receive such fee or premium;

 

		(xii)	amend, modify, terminate or waive any provision of the definition of “Pro Rata Share”,
Section 2.17 or Section 8.3 without the written consent of each Lender adversely affected thereby;

 

		(xiii)	amend, modify, terminate or waive any provision of the definition of “Required Revolving
Lenders” without the consent of all Revolving Lenders; or

 

		(xiv)	amend, modify, terminate or waive any term or condition of Sections 10.5(a), 10.5(b), 10.5(c),
10.5(d), 10.6(b)(v), 10.6(d), 10.6(f) or 10.6(g) or the definition of “Affiliated Lender”, “Debt Fund Affiliate”,
“Eligible Assignee”, “or “Non-Debt Fund Affiliate”, in each case, without the written consent of
each Lender adversely affected thereby.

  

(c)
Consent of all Lenders. Without the written consent of all Lenders, no amendment, modification, termination or waiver of
any term or condition of any Credit Document, or consent to any departure by any Credit Party therefrom, shall:

 

		(i)	amend, modify, terminate or waive any term or condition of this Agreement or any other Credit Document
that expressly provides that the consent of all Lenders is required;

 

		(ii)	amend, modify, terminate or waive any provision of the definition of “Required Lenders”
or alter the required application of any payments, repayments or prepayments as between Classes of Loans pursuant to Section 2.15;

 

		(iii)	release or subordinate the Liens of the Secured Parties in all or substantially all of the Collateral,
or release all or substantially all of the value of the Guarantees or subordinate the rights or claims of the Beneficiaries with
respect thereto, in each case, except as expressly provided in the Credit Documents; provided, in connection with a “credit
bid” undertaken by the Collateral Agent at the direction of the Required Lenders pursuant to section 363(k), section 1129(b)(2)(a)(ii)
or otherwise of the Bankruptcy Code or other sale or disposition of assets in connection with an enforcement action with respect
to the Collateral permitted pursuant to the Credit Documents, only the consent of the Required Lenders will be needed for such
release; or

  

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		(iv)	consent to the assignment or transfer by any Credit Party of any of its rights and obligations
under any Credit Document (except as expressly provided in or contemplated by the Credit Documents).

  

(d)
Other Consents. No amendment, modification, termination or waiver of any term or condition of any Credit Document, or consent
to any departure by any Credit Party therefrom, shall:

 

		(i)	amend, modify, terminate or waive any provision hereof relating to the Swing Line Sublimit or the
Swing Line Loans without the consent of the Swing Line Lender;

 

		(ii)	amend, modify, terminate or waive any obligation of the Lenders relating to the purchase of participations
in Letters of Credit as provided in Section 2.4(e) without the written consent of the Administrative Agent and each Issuing Bank;

 

		(iii)	amend, modify or waive any Credit Document so as to alter the ratable treatment of Obligations
arising under the Credit Documents, Obligations arising under Secured Swap Contracts or Cash Management Obligations, or the definition
of “Cash Management Agreement,” “Cash Management Bank,” “Cash Management Obligations,” “Cash
Management Products,” “Eligible Counterparty,” “Obligations,” “Swap Contract,” “Secured
Swap Contract,” or “Secured Obligations” (as defined in any applicable Collateral Document), in each case, in
a manner materially adverse to (A) any Eligible Counterparty with Obligations then outstanding without the written consent of any
such Eligible Counterparty or (B) any Cash Management Bank with Cash Management Obligations then outstanding without the written
consent of any such Cash Management Bank;

 

		(iv)	amend, modify, terminate or waive any provision of Section 9 as the same applies to any Agent,
or any other provision hereof as the same applies to the rights or obligations of any Agent, in each case without the consent of
such Agent; or

 

		(v)	amend, modify, terminate or waive any provision of this Section 10.5(d)(v) or Section 3.2, 6.7,
8.1(c) (solely as it relates to Section 6.7), 8.3 (solely as it relates to a Financial Condition Covenant Event of Default) or
8.5 or the definition of “Consolidated Total Net Leverage Ratio” or the component definitions thereof (as used in each
such Section but not as used in any other Section of this Agreement), in each case, without the written consent of the Required
Revolving Lenders; provided, any such amendment, modification, termination or waiver shall require only the written consent
of the Required Revolving Lenders, and not the written consent of the Required Lenders.

  

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(e)
Intercreditor Arrangements. No consent of any other Secured Party is required for the Administrative Agent to enter into,
or to effect any amendment, modification or supplement to any Intercreditor Agreement for the purpose of adding the holders of
any Indebtedness permitted hereby (or their representative) that is permitted to be secured by the Collateral as a party thereto
and otherwise causing such Indebtedness to be subject thereto as contemplated by the terms of such Intercreditor Agreement (it
being understood that any such amendment or supplement may make such other changes to such Intercreditor Agreement as, in the
good faith determination of the Administrative Agent, are required or appropriate to effectuate the foregoing or to cure ambiguities,
omissions, mistakes, defects or inconsistencies so long as such other changes are not adverse, in any material respect (taken
as a whole), to the interests of the Lenders; provided, no such agreement shall amend, modify or otherwise affect the rights
or duties of the Administrative Agent hereunder or under any other Credit Document without the prior written consent of the Administrative
Agent.

 

(f)
Guarantees and Collateral Documents. Guarantees, collateral security documents and related documents executed by the Credit
Parties or other Subsidiaries in connection with this Agreement may be in a form reasonably determined by the Administrative Agent
and may be, together with this Agreement, amended and waived with the consent of the Administrative Agent at the request of the
Borrower Representative without the need to obtain the consent of any other Lender if such amendment or waiver is delivered in
order (i) to comply with local Law or advice of local or regulatory counsel, (ii) to cure ambiguities, omissions, mistakes, defects
or inconsistencies or (iii) to cause such guarantee, collateral security documents and related documents to be consistent with
this Agreement and the other Credit Documents.

 

(g)
Execution of Amendments, Etc. The Administrative Agent may, but shall have no obligation to, with the concurrence of any
Lender, execute amendments, modifications, waivers or consents on behalf of, and with the consent of such Lender. Any waiver or
consent shall be effective only in the specific instance and for the specific purpose for which it was given. No notice to or
demand on any Credit Party in any case shall entitle any Credit Party to any other or further notice or demand in similar or other
circumstances. Any amendment, modification, termination, waiver or consent effected in accordance with this Section 10.5 shall
be binding upon each Lender at the time outstanding, each future Lender and, if signed by a Credit Party, on such Credit Party.

 

(h)
Changes to Adjusted Eurodollar Rate. If the Administrative Agent reasonably determines that adequate and reasonable means
do not exist for determining the interest rate applicable to Eurodollar Loans (including because Eurodollar Base Rate is not published
on a current basis or is otherwise not available), and that such circumstances are unlikely to be temporary, or if the supervisor
for the administrator of the Eurodollar Base Rate (or a Governmental Authority having jurisdiction over the Administrative Agent)
has made a public statement identifying a specific date after which the Eurodollar Base Rate shall no longer be used for determining
interest rates for loans, then the Administrative Agent and the Borrower Representative shall (x) agree on an alternate method
to ascertain the interest rate applicable to Eurodollar Loans which gives due consideration to the then prevailing market convention
for determining a rate of interest for syndicated loans in the United States at such time, and (y) enter into an amendment to
the applicable Credit Documents that reflects such alternate rate of interest and any other related changes as may be applicable,
which amendment shall become effective solely upon execution by the Borrowers and the Administrative Agent, unless the Required
Lenders shall object in writing to such amendment on or prior to the fifth Business Day following delivery of notice of such amendment
by the Administrative Agent to the Lenders.

 

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10.6
Successors and Assigns; Participations.

 

(a)
Successors and Assigns Generally. The provisions of this Agreement shall be binding upon and inure to the benefit of the
parties hereto and their respective successors and assigns permitted hereby, except that (i) neither the Borrowers nor any other
Credit Party may (other than pursuant to or as results from a transaction permitted under Section 6.8) assign or otherwise transfer
any of its rights or obligations hereunder without the prior written consent of the Administrative Agent and each Lender, and
(ii) no Lender may assign or otherwise transfer any of its rights or obligations hereunder except (x) to an assignee in accordance
with the provisions of Section 10.6(b), (y) by way of participation in accordance with Section 10.6(d), or (z) by way of pledge
or assignment of a security interest subject to Section 10.6(e) (and any other attempted assignment or transfer by any party hereto
shall be null and void). Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person (other
than the parties hereto, their respective successors and assigns permitted hereby, Participants to the extent provided in Section
10.6(d) and, to the extent expressly contemplated hereby, the Related Parties of each of the Administrative Agent and the Lenders)
any legal or equitable right, remedy or claim under or by reason of this Agreement.

 

(b)
Assignments by Lenders. Any Lender may at any time assign to one or more assignees all or a portion of its rights and obligations
under this Agreement (including all or a portion of its Commitment and the Loans at the time owing to it); provided, each
such assignment shall be subject to the following conditions:

 

		(i)	Minimum Amounts.

 

		(A)	in the case of an assignment of the entire remaining amount of the assigning Lender’s Commitment
and/or the Loans at the time owing to it or contemporaneous assignments to related Approved Funds that equal at least the amount
specified in Section 10.6(b)(i)(B) in the aggregate or in the case of an assignment to a Lender, an Affiliate of a Lender or an
Approved Fund, no minimum amount need be assigned; and

 

		(B)	in any case not described in Section 10.6(b)(i)(A), the aggregate amount of the Commitment (which
for this purpose includes Loans outstanding thereunder) or, if the applicable Commitment is not then in effect, the principal outstanding
balance of the Loans of the assigning Lender subject to each such assignment (determined as of the date the Assignment and Assumption
with respect to such assignment is delivered to the Administrative Agent or, if “Trade Date” is specified in the Assignment
and Assumption, as of the Trade Date) shall not be less than $1,000,000 in the case of any assignment in respect of Revolving Credit
Commitments and Revolving Loans, or $1,000,000 in the case of any assignment in respect of any Term Loan or any Incremental Term
Loan, unless each of the Administrative Agent and, so long as no Event of Default has occurred and is continuing, the Borrower
Representative otherwise consents (each such consent not to be unreasonably withheld or delayed).

 

		(ii)	Proportionate Amounts. Each partial assignment shall be made as an assignment of a proportionate
part of all the assigning Lender’s rights and obligations under this Agreement with respect to the Loan or the Commitment
assigned, except that this clause (ii) shall not prohibit any Lender from assigning all or a portion of its rights and obligations
among separate facilities on a non-pro rata basis.

 

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		(iii)	Required Consents. No consent shall be required for any assignment except to the extent
required by Section 10.6(b)(i)(B) and, in addition:

 

		(A)	the consent of the Borrower Representative (such consent not to be unreasonably withheld or delayed
provided, it shall not be deemed unreasonable for the Borrower Representative to withhold consent to any assignment to a
Disqualified Institution for any reason) shall be required unless (I) a Specified Event of Default has occurred and is continuing
at the time of such assignment, (II) such assignment is to a Lender, an Affiliate of a Lender or an Approved Fund or (III) such
assignment is to any Person that is not a Disqualified Institution and occurs at any time prior to the earlier of (x) the date
that the Administrative Agent shall notify the Borrower Representative that the primary syndication of the Loans and Revolving
Credit Commitments has been completed (which the Administrative Agent hereby agrees to notify the Borrowers of upon the occurrence
thereof), and (y) the sixtieth day following the Closing Date; provided, the Borrower Representative shall be deemed to
have consented to any such assignment (other than with respect to an assignment to a Disqualified Institution) unless it shall
object thereto by written notice to the Administrative Agent within 10 Business Days after having received notice thereof;

 

		(B)	the consent of the Administrative Agent (such consent not to be unreasonably withheld or delayed)
shall be required for assignments in respect of (i) the Revolving Credit Commitments and Revolving Loans or any unfunded Commitments
with respect to any Term Loan or Incremental Term Loan if such assignment is to a Person that is not a Lender with a Commitment
in respect thereof, an Affiliate of such Lender or an Approved Fund with respect to such Lender, or (ii) any Term Loan or any Incremental
Term Loan to a Person that is not a Lender, an Affiliate of a Lender or an Approved Fund; and

 

		(C)	the consent of each Issuing Bank and the Swing Line Lender shall be required for any assignment
in respect of the Revolving Credit Commitments and Revolving Loans if such assignment is to a Person that is not a Lender with
a Commitment in respect thereof, an Affiliate of such Lender or an Approved Fund with respect to such Lender.

 

		(iv)	Assignment and Assumption. The parties to each assignment shall execute and deliver to the
Administrative Agent an Assignment and Assumption, together with all forms, certificates or other evidence each assignee is required
to provide pursuant to Section 2.20(g) and a processing and recordation fee of $3,500 (except that no such processing and recordation
fee shall be payable in connection with any assignment to which the Lead Arranger or any of its Affiliates is a party as assignor
or assignee); provided, the Administrative Agent may, in its sole discretion, elect to waive such processing and recordation
fee in the case of any assignment. The assignee, if it is not a Lender, shall deliver to the Administrative Agent an Administrative
Questionnaire.

  

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		(v)	No Assignment to Certain Persons. No such assignment shall be made to (A) the Borrowers
or any of the Borrowers’ Affiliates or Subsidiaries except, solely with respect to Term Loans, as permitted by Sections 10.6(f)
and 10.6(g), (B) to any Defaulting Lender or any of its Subsidiaries, or any Person who, upon becoming a Lender hereunder, would
constitute a Defaulting Lender or a Subsidiary thereof or (C) to any Disqualified Institution.

 

		(vi)	No Assignment to Natural Persons. No such assignment shall be made to a natural Person (or
a holding company, investment vehicle or trust for, or owned and operated for the primary benefit of, a natural Person).

 

		(vii)	Certain Additional Payments. In connection with any assignment of rights and obligations
of any Defaulting Lender hereunder, no such assignment shall be effective unless and until, in addition to the other conditions
thereto set forth herein, the parties to the assignment shall make such additional payments to the Administrative Agent in an aggregate
amount sufficient, upon distribution thereof as appropriate (which may be outright payment, purchases by the assignee of participations
or subparticipations, or other compensating actions, including funding, with the consent of the Borrower Representative and the
Administrative Agent, the applicable Pro Rata Share of Loans previously requested but not funded by the Defaulting Lender, to each
of which the applicable assignee and assignor hereby irrevocably consent), to (x) pay and satisfy in full all payment liabilities
then owed by such Defaulting Lender to the Administrative Agent, the Issuing Bank, the Swing Line Lender and each other Lender
hereunder (and interest accrued thereon), and (y) acquire (and fund as appropriate) its full Pro Rata Share of all Loans and participations
in Letters of Credit and Swing Line Loans. Notwithstanding the foregoing, if any assignment of rights and obligations of any Defaulting
Lender hereunder shall become effective under applicable law without compliance with the provisions of this Section, then the assignee
of such interest shall be deemed to be a Defaulting Lender for all purposes of this Agreement until such compliance occurs.

  

Subject
to acceptance and recording thereof by the Administrative Agent pursuant to Section 10.6(c), from and after the effective date
specified in each Assignment and Assumption, the assignee thereunder shall be a party to this Agreement and, to the extent of
the interest assigned by such Assignment and Assumption, have the rights and obligations of a Lender under this Agreement, and
the assigning Lender thereunder shall, to the extent of the interest assigned by such Assignment and Assumption, be released from
its obligations under this Agreement (and, in the case of an Assignment and Assumption covering all of the assigning Lender’s
rights and obligations under this Agreement, such Lender shall cease to be a party hereto) but shall continue to be entitled to
the benefits (and obligations) of Sections 2.19, 2.20 (subject to the requirements and limitations therein, including the requirements
under Section 2.20(g)), 10.2 and 10.3 with respect to facts and circumstances occurring prior to the effective date of such assignment;
provided, except to the extent otherwise expressly agreed by the affected parties, no assignment by a Defaulting Lender
will constitute a waiver or release of any claim of any party hereunder arising from such Lender having been a Defaulting Lender.
Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this Section 10.6.(b)
but otherwise complies with Section 10.6(d) shall be treated for purposes of this Agreement as a sale by such Lender of a participation
in such rights and obligations in accordance with Section 10.6(d).

 

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(c)
Register. The Administrative Agent, acting solely for this purpose as an agent of the Borrowers, shall maintain at the
Payment Office a copy of each Assignment and Assumption delivered to it and a register for the recordation of the names and addresses
of the Lenders, and the Commitments of, and principal amounts of (and stated interest on) the Loans owing to, each Lender pursuant
to the terms hereof from time to time (the “Register”). The entries in the Register shall be conclusive absent
manifest error, and the Borrowers, the Administrative Agent and the Lenders shall treat each Person whose name is recorded in
the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement. The Register shall be available
for inspection by the Borrower Representative and by any Lender (but, with respect to any Lender, solely as to the Loans and Commitments
thereof), at any reasonable time and from time to time upon reasonable prior notice. The Register is intended to cause each Loan
and other obligation hereunder to be in registered form within the meaning of Section 5f.103-1(c) of the United States Treasury
Regulations and within the meaning of Sections 163(f), 871(h)(2) and 881(c)(2) of the Code.

 

(d)
Participations. Any Lender may at any time, without the consent of, or notice to, the Borrowers or the Administrative Agent,
sell participations to any Person (other than a natural Person, or a holding company, investment vehicle or trust for, or owned
and operated for the primary benefit of, a natural Person, or the Borrowers or any of the Borrowers’ Affiliates or Restricted
Subsidiaries or any Disqualified Institution) (each, a “Participant”) in all or a portion of such Lender’s
rights and/or obligations under this Agreement (including all or a portion of its Commitment and/or the Loans owing to it); provided,
(i) such Lender’s obligations under this Agreement shall remain unchanged, (ii) such Lender shall remain solely responsible
to the other parties hereto for the performance of such obligations, and (iii) the Borrowers, the Administrative Agent, the Issuing
Bank and Lenders shall continue to deal solely and directly with such Lender in connection with such Lender’s rights and
obligations under this Agreement. For the avoidance of doubt, each Lender shall be responsible for the indemnity under Section
10.3(b) with respect to any payments made by such Lender to its Participant(s).

 

Any
agreement or instrument pursuant to which a Lender sells such a participation shall provide that such Lender shall retain the
sole right to enforce this Agreement and to approve any amendment, modification or waiver of any provision of this Agreement;
provided, such agreement or instrument may provide that such Lender will not, without the consent of the Participant, agree
to any amendment, modification or waiver described in Section 10.5(b) or 10.5(c) that adversely affects such Participant. The
Borrowers agree that each Participant shall be entitled to the benefits of Sections 2.19 and 2.20 (subject to the requirements
and limitations therein, including the requirements under Section 2.20(g) (it being understood that the documentation required
under Section 2.20(g) shall be delivered to the participating Lender)) to the same extent as if it were a Lender and had acquired
its interest by assignment pursuant to clause (b) of this Section (subject to the requirements and limitations therein, including
the requirements under Section 2.20(g)); provided, such Participant agrees to be subject to the provisions of Sections
2.19 and 2.20 as if it were an assignee under Section 10.6(b). To the extent permitted by law, each Participant also shall be
entitled to the benefits of Section 10.4 as though it were a Lender; provided, such Participant agrees to be subject to
Section 2.17 as though it were a Lender. Each Lender that sells a participation pursuant to this Section shall maintain a register
on which it records the name and address of each Participant and the principal amounts of (and stated interest on) each Participant’s
participation interest with respect to the Loans and the Commitments (each, a “Participant Register”). The
entries in the Participant Register shall be conclusive absent manifest or demonstrable error, and such Lender shall treat each
Person whose name is recorded in the Participant Register as the owner of a participation with respect to such Loans or Commitments
for all purposes under this Agreement, notwithstanding any notice to the contrary. In maintaining the Participant Register, such
Lender shall be acting as the agent of the Borrowers solely for purposes of applicable US federal income tax law and undertakes
no duty, responsibility or obligation to the Borrowers (without limitation, in no event shall such Lender be a fiduciary of the
Borrowers for any purpose, except that such Lender shall maintain the Participant Register; provided, no Lender shall have
any obligation to disclose all or any portion of the Participant Register to any Person (including the identity of any Participant
or any information relating to a Participant’s interest in any Commitments, Loans, or its other obligations under this Agreement)
except to the extent that such disclosure is necessary to establish in connection with a Tax audit that such Commitment, Loan,
or other obligation is in registered form under Section 5f.103(c) of the United States Treasury Regulations and within the meaning
of Sections 163(f), 871(h)(2) and 881(c)(2) of the Code. A Participant shall not be entitled to receive any greater payment under
Sections 2.19 or 2.20 than the applicable Lender would have been entitled to receive with respect to the participation sold to
such Participant (except to the extent such entitlement to receive a greater payment results from a Change in Law that occurs
after the Participant acquired the applicable participation) unless the sale of the participation to such Participant is made
with the Borrower Representative’s prior written consent. A Participant shall not be entitled to the benefits of Section
2.20 unless the Borrower Representative is notified of the participation sold to such Participant and such Participant agrees,
for the benefit of the Borrowers, to comply with Section 2.20 as though it were a Lender (it being understood that the documentation
required under Section 2.20(g) shall be provided to the participating Lender).

 

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(e)
Certain Pledges; SPCs.

 

		(i)	Any Lender may at any time pledge or assign a security interest in all or any portion of its rights
under this Agreement to secure obligations of such Lender, including any pledge or assignment to secure obligations to a Federal
Reserve Bank; provided, no such pledge or assignment shall release such Lender from any of its obligations hereunder or
substitute any such pledgee or assignee for such Lender as a party hereto.

 

		(ii)	Notwithstanding anything to the contrary contained herein, any Lender (a “Granting Lender”)
may grant to a special purpose funding vehicle identified as such in writing from time to time by the Granting Lender to the Administrative
Agent and the Borrower Representative (an “SPC”) the option to provide all or any part of any Loan that such
Granting Lender would otherwise be obligated to make pursuant to this Agreement; provided, (i) nothing herein shall constitute
a commitment by any SPC to fund any Loan, and (ii) if an SPC elects not to exercise such option or otherwise fails to make all
or any part of such Loan, the Granting Lender shall be obligated to make such Loan pursuant to the terms hereof. Each party hereto
hereby agrees that (A) neither the grant to any SPC nor the exercise by any SPC of such option shall increase the costs or expenses
or otherwise increase or change the obligations of the Borrowers under this Agreement (including its obligations under Section
2.19 and 2.20), (B) no SPC shall be liable for any indemnity or similar payment obligation under this Agreement for which a Lender
would be liable and (C) the Granting Lender shall for all purposes, including the approval of any amendment, waiver or other modification
of any provision of any Credit Document, remain the lender of record hereunder. The making of a Loan by an SPC hereunder shall
utilize the applicable Commitment of the Granting Lender to the same extent, and as if, such Loan were made by such Granting Lender.
In furtherance of the foregoing, each party hereto hereby agrees (which agreement shall survive the termination of this Agreement)
that, prior to the date that is one year and one day after the payment in full of all outstanding commercial paper or other senior
debt of any SPC, it will not institute against, or join any other Person in instituting against, such SPC any bankruptcy, reorganization,
arrangement, insolvency, or liquidation proceeding under the laws of the United States or any State thereof. Notwithstanding anything
to the contrary contained herein, any SPC may (1) with notice to, but without prior consent of the Borrower Representative and
the Administrative Agent, and with the payment of a processing fee of $3,500 to the Administrative Agent, assign all or any portion
of its right to receive payment with respect to any Loan to the applicable Granting Lender and (2) disclose on a confidential basis
any non-public information relating to its funding of Loans to any rating agency, commercial paper dealer or provider of any surety
or guarantee or credit or liquidity enhancement to such SPC.

  

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(f)
Assignments to Affiliated Lenders. Notwithstanding anything in this Agreement to the contrary, any Term Loan Lender may,
at any time, assign all or a portion of its Term Loans on a non-pro rata basis to an Affiliated Lender through open-market purchases
or in accordance with the procedures set forth on Appendix C, pursuant to an offer made available to all Term Loan Lenders on
a pro rata basis (a “Dutch Auction”), subject to the following limitations:

 

		(i)	in connection with an assignment to a Non-Debt Fund Affiliate, (A) the Non-Debt Fund Affiliate
shall have identified itself in writing as an Affiliated Lender to the assigning Term Loan Lender and the Administrative Agent
prior to the execution of such assignment and (B) the Non-Debt Fund Affiliate shall be deemed to have represented and warranted
to the assigning Term Loan Lender and the Administrative Agent that the requirements set forth in this clause (i) and clause (iv)
below shall have been satisfied upon consummation of the applicable assignment;

 

		(ii)	Non-Debt Fund Affiliates will not (A) have the right to receive information, reports or other materials
provided solely to Lenders by the Administrative Agent or any other Lender, except to the extent made available to the Borrowers
or any other Credit Party, (B) attend or participate in meetings attended solely by the Lenders and the Administrative Agent to
which no Credit Party has been invited, or (C) access any electronic site established for the Lenders or confidential communications
from counsel to or financial advisors of the Administrative Agent or the Lenders;

  

    	 	178	 

     

    

		(iii)	(A) for purposes of any consent to any amendment, waiver or modification of, or any action under,
and for the purpose of any direction to the Administrative Agent or any Lender to undertake any action (or refrain from taking
any action) under, this Agreement or any other Credit Document, each Non-Debt Fund Affiliate will be deemed to have consented in
the same proportion as the Term Loan Lenders that are not Non-Debt Fund Affiliates consented to such matter, unless such matter
requires the consent of all or all affected Lenders or adversely affects such Non-Debt Fund Affiliate (in its capacity as a Lender)
disproportionately compared to other Term Loan Lenders that are not Non-Debt Fund Affiliates, (B) for purposes of voting on any
plan of reorganization or plan of liquidation pursuant to any Debtor Relief Laws (a “Plan”), each Non-Debt Fund
Affiliate hereby agrees (x) not to vote on such Plan, (y) if such Non-Debt Fund Affiliate does vote on such Plan notwithstanding
the restriction in the foregoing clause (x), such vote will be deemed not to be in good faith and shall be “designated”
pursuant to Section 1126(e) of the Bankruptcy Code (or any similar provision in any other Debtor Relief Laws), and such vote shall
not be counted in determining whether the applicable class has accepted or rejected such Plan in accordance with Section 1126(c)
of the Bankruptcy Code (or any similar provision in any other Debtor Relief Laws) and (z) not to contest any request by any party
for a determination by the Bankruptcy Court (or other applicable court of competent jurisdiction) effectuating the foregoing clause
(y), in each case under this clause (iii)(B) unless such Plan adversely affects such Non-Debt Fund Affiliate (in its capacity as
a Lender) disproportionately compared to other Term Loan Lenders that are not Non-Debt Fund Affiliates, and (C) each Non-Debt Fund
Affiliate hereby authorizes the Administrative Agent to vote on behalf of such Non-Debt Fund Affiliate (solely in respect of Term
Loans held thereby and not in respect of any other claim or status such Non-Debt Fund Affiliate may otherwise have), in any vote
of the type described in the foregoing clause (B) (but subject in any event to the limitations set forth therein);

 

		(iv)	the aggregate principal amount of Term Loans held at any one time by Non-Debt Fund Affiliates may
not exceed 20% of the then aggregate outstanding principal amount of Term Loans;

 

		(v)	no Affiliated Lender in its capacity as such, will be entitled to bring actions against the Administrative
Agent, in its role as such (except with respect to any claim that the Administrative Agent is treating such Affiliated Lender,
in its capacity as a Lender, in a disproportionate manner relative to other Lenders that are not Non-Debt Fund Affiliates), or
receive advice of counsel or other advisors to the Administrative Agent or any other Lenders or challenge the attorney client privilege
of their respective counsel;

 

		(vi)	the portion of any Loans held by Debt Fund Affiliates in the aggregate in excess of 49.9% of the
amount of Loans and Commitments required to be held by Lenders in order for such Lenders to constitute “Required Lenders”
shall be disregarded in determining Required Lenders at any time; and

 

		(vii)	any Term Loan acquired by an Affiliated Lender may be contributed to Parent (whether through an
Ultimate Parent Company or otherwise) and exchanged for debt or equity Securities of such Ultimate Parent Company or Parent that
are otherwise permitted to be issued by such Person at such time in accordance with the terms hereof, and such Term Loans and all
rights and obligations as a Term Loan Lender related thereto shall, for all purposes under this Agreement, the other Credit Documents
and otherwise, be deemed to be irrevocably prepaid, terminated, extinguished, cancelled and of no further force and effect as of
the date of such contribution.

  

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Each
Affiliated Lender that is a Term Loan Lender hereunder agrees to comply with the terms of this Section 10.6(f) (notwithstanding
that it may be granted access to the Platform or any other electronic site established for the Lenders by the Administrative Agent),
and agrees that in any subsequent assignment of all or any portion of its Term Loans it shall identify itself in writing to the
assignee as an Affiliated Lender prior to the execution of such assignment.

 

(g)
Buybacks. Notwithstanding anything in this Agreement to the contrary, any Term Loan Lender may, at any time, assign all
or a portion of its Term Loans on a non-pro rata basis to the Borrowers or Parent through open-market purchases or in accordance
with a Dutch Auction, subject to the following limitations:

 

		(i)	if any Borrower is the assignee, immediately and automatically, without any further action on the
part of such Borrower, any Lender, the Administrative Agent or any other Person, upon the effectiveness of such assignment of Term
Loans from a Term Loan Lender to such Borrower, such Term Loans and all rights and obligations as a Term Loan Lender related thereto
shall, for all purposes under this Agreement, the other Credit Documents and otherwise, be deemed to be irrevocably prepaid, terminated,
extinguished, cancelled and of no further force and effect and such Borrower shall neither obtain nor have any rights as a Term
Loan Lender hereunder or under the other Credit Documents by virtue of such assignment;

 

		(ii)	if Parent is the assignee, immediately and automatically, without any further action on the part
of the Borrowers, Parent, any Lender, the Administrative Agent or any other Person, upon the effectiveness of such assignment of
Term Loans from a Term Loan Lender to Parent, Parent shall automatically be deemed to have contributed the principal amount of
such Term Loans, plus all accrued and unpaid interest thereon, to the Borrowers as common equity, and such Term Loans and all rights
and obligations as a Term Loan Lender related thereto shall, for all purposes under this Agreement, the other Credit Documents
and otherwise, be deemed to be irrevocably prepaid, terminated, extinguished, cancelled and of no further force and effect and
Parent shall neither obtain nor have any rights as a Term Loan Lender hereunder or under the other Credit Documents by virtue of
such assignment;

 

		(iii)	no proceeds of any Revolving Loan or Swing Line Loan shall be used for any such assignment; and

 

		(iv)	no Event of Default shall have occurred and be continuing immediately before or immediately after
giving effect to such assignment.

 

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(h)
Disqualified Institutions.

 

		(i)	No assignment or participation shall be made to any Person that was a Disqualified Institution
as of the date (the “Trade Date”) on which the assigning Lender entered into a binding agreement to sell and
assign all or a portion of its rights and obligations under this Agreement to such Person (unless the Borrowers have consented
to such assignment in writing in their sole and absolute discretion, in which case such Person will not be considered a Disqualified
Institution for the purpose of such assignment or participation). For the avoidance of doubt, with respect to any assignee that
becomes a Disqualified Institution after the applicable Trade Date (including as a result of the delivery of a notice pursuant
to, and/or the expiration of the notice period referred to in, the definition of “Disqualified Institution”), (x) such
assignee shall not retroactively be disqualified from becoming a Lender and (y) the execution by the Borrowers of an Assignment
and Assumption with respect to such assignee will not by itself result in such assignee no longer being considered a Disqualified
Institution. Any assignment in violation of this Section 10.6(h)(i) shall not be void, but the other provisions of this Section
10(h) shall apply.

 

		(ii)	If any assignment or participation is made to any Disqualified Institution without the Borrowers’
prior written consent in violation of clause (i) above, or if any Person becomes a Disqualified Institution after the applicable
Trade Date, the Borrowers may, at their sole expense and effort, upon notice to the applicable Disqualified Institution and the
Administrative Agent, (A) terminate any Revolving Credit Commitment of such Disqualified Institution and repay all obligations
of the Borrowers owing to such Disqualified Institution in connection with such Revolving Credit Commitment, (B) in the case of
outstanding Term Loans held by Disqualified Institutions, purchase or prepay such Term Loan by paying the lesser of (x) the principal
amount thereof and (y) the amount that such (or if less, any) Disqualified Institution paid to acquire such Term Loans, in each
case plus accrued interest, accrued fees and all other amounts (other than principal amounts) payable to it hereunder and/or (C)
require such Disqualified Institution to assign, without recourse (in accordance with and subject to the restrictions contained
in this Section 10.6), all of its interest, rights and obligations under this Agreement to one or more Eligible Assignees at the
lesser of (x) the principal amount thereof and (y) the amount that such Disqualified Institution (or if less, any) paid to acquire
such interests, rights and obligations, in each case plus accrued interest, accrued fees and all other amounts (other than principal
amounts) payable to it hereunder.

  

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		(iii)	Notwithstanding anything to the contrary contained in this Agreement, Disqualified Institutions
(A) will not (x) have the right to receive information, reports or other materials provided to Lenders by the Borrowers, any Agent
or any other Lender, (y) attend or participate in meetings attended by the Lenders and/or the Administrative Agent, or (z) access
any electronic site established for the Lenders or confidential communications from counsel to or financial advisors of the Administrative
Agent or the Lenders and (B) (x) for purposes of any consent to any amendment, waiver or modification of, or any action under,
and for the purpose of any direction to any Agent or any Lender to undertake any action (or refrain from taking any action) under
this Agreement or any other Credit Document, each Disqualified Institution will be deemed to have consented in the same proportion
as the Lenders that are not Disqualified Institutions consented to such matter, and (y) for purposes of voting on any Plan, each
Disqualified Institution party hereto hereby agrees (1) not to vote on such Plan, (2) if such Disqualified Institution does vote
on such Plan notwithstanding the restriction in the foregoing clause (1), such vote will be deemed not to be in good faith and
shall be “designated” pursuant to Section 1126(e) of the Bankruptcy Code (or any similar provision in any other Debtor
Relief Laws), and such vote shall not be counted in determining whether the applicable class has accepted or rejected such Plan
in accordance with Section 1126(c) of the Bankruptcy Code (or any similar provision in any other Debtor Relief Laws) and (3) not
to contest any request by any party for a determination by the Bankruptcy Court (or other applicable court of competent jurisdiction)
effectuating the foregoing clause (2).

 

		(iv)	The Administrative Agent shall have the right, and the Borrowers hereby expressly authorize the
Administrative Agent, to (A) post the list of Disqualified Institutions provided by the Borrowers and any updates thereto from
time to time (collectively, the “DQ List”) on the Platform, including that portion of the Platform that is designated
for “public side” Lenders and/or (B) provide the DQ List to each Lender requesting the same.

  

(i)
Electronic Execution of Assignments. The words “execution,” “signed,” “signature,”
and words of like import in any Assignment and Assumption shall be deemed to include electronic signatures or the keeping of records
in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature
or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law,
including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and
Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act.

 

10.7
Independence of Covenants. All covenants hereunder shall be given independent effect so that if a particular action
or condition is not permitted by any of such covenants, the fact that it would be permitted by an exception to, or would otherwise
be within the limitations of, another covenant shall not avoid the occurrence of a Default or an Event of Default if such action
is taken or condition exists.

 

10.8
Survival of Representations, Warranties and Agreements. All representations, warranties and agreements made herein
shall survive the execution and delivery hereof and the making of any Credit Extension. Notwithstanding anything herein or implied
by law to the contrary, the agreements of each Credit Party set forth in Sections 2.18(c), 2.19, 2.20, 10.2, 10.3 and 10.4 and
the agreements of the Lenders set forth in Sections 2.17, 2.20, 2.21, 2.22, 9.3(b), 9.6 and 9.11 shall survive the payment of
the Loans, the cancellation or expiration of the Letters of Credit and the reimbursement of any amounts drawn thereunder, and
the termination hereof.

 

10.9
No Waiver; Remedies Cumulative. No failure or delay on the part of any Agent or any Lender in the exercise of any power,
right or privilege hereunder or under any other Credit Document shall impair such power, right or privilege or be construed to
be a waiver of any default or acquiescence therein, nor shall any single or partial exercise of any such power, right or privilege
preclude other or further exercise thereof or of any other power, right or privilege. The rights, powers and remedies given to
each Agent and each Lender hereby are cumulative and shall be in addition to and independent of all rights, powers and remedies
existing by virtue of any statute or rule of law or in any of the other Credit Documents, any Secured Swap Contracts or any Cash
Management Agreements. Any forbearance or failure to exercise, and any delay in exercising, any right, power or remedy hereunder
shall not impair any such right, power or remedy or be construed to be a waiver thereof, nor shall it preclude the further exercise
of any such right, power or remedy.

 

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 10.10
Marshalling; Payments Set Aside. Neither any Agent nor any Lender shall be under any obligation to marshal any assets
in favor of any Credit Party or any other Person or against or in payment of any or all of the Obligations. To the extent that
any Credit Party makes a payment or payments to the Administrative Agent, any Issuing Bank or any Lender (or to the Administrative
Agent, on behalf of the Lenders or any Issuing Bank), or any Agent, any Issuing Bank or any Lender enforces any security interests
or exercise their rights of setoff, and such payment or payments or the proceeds of such enforcement or setoff or any part thereof
are subsequently invalidated, declared to be fraudulent or preferential, set aside and/or required to be repaid to a trustee,
receiver or any other party under any Debtor Relief Law, any other state or federal law, common law or any equitable cause, then,
to the extent of such recovery, the obligation or part thereof originally intended to be satisfied, and all Liens, rights and
remedies therefor or related thereto, shall be revived and continued in full force and effect as if such payment or payments had
not been made or such enforcement or setoff had not occurred.

 

10.11
Severability. If any provision in or obligation hereunder or under any other Credit Document shall be invalid, illegal
or unenforceable in any jurisdiction, the validity, legality and enforceability of the remaining provisions or obligations, or
of such provision or obligation in any other jurisdiction, shall not in any way be affected or impaired thereby.

 

10.12
Obligations Several; Independent Nature of the Lenders’ Rights. The obligations of the Lenders hereunder are
several and no Lender shall be responsible for the obligations or Commitment of any other Lender hereunder. Nothing contained
herein or in any other Credit Document, and no action taken by the Lenders pursuant hereto or thereto, shall be deemed to constitute
the Lenders as a partnership, an association, a joint venture or any other kind of entity. The amounts payable at any time hereunder
to each Lender shall be a separate and independent debt, and each Lender shall be entitled to protect and enforce its rights arising
out hereof and it shall not be necessary for any other Lender to be joined as an additional party in any proceeding for such purpose.

 

10.13
Headings. Section headings herein are included herein for convenience of reference only and shall not constitute a
part hereof for any other purpose or be given any substantive effect.

 

10.14
Governing Law. This Agreement and the other Credit Documents and any claims, controversy, dispute or cause of action
(whether in contract or tort or otherwise) based upon, arising out of or relating to this Agreement or any other Credit Document
(except, as to any other Credit Document, as expressly set forth therein) and the transactions contemplated hereby and thereby
shall be governed by, and construed in accordance with, the law of the State of New York.

 

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10.15
Consent to Jurisdiction. The Borrowers and each other Credit Party irrevocably and unconditionally agrees that it will
not commence any action, litigation or proceeding of any kind or description, whether in law or equity, whether in contract or
in tort or otherwise, against any Agent, any Lender, any Issuing Bank, or any Related Party of the foregoing in any way relating
to this Agreement or any other Credit Document or the transactions relating hereto or thereto, in any forum other than the courts
of the State of New York sitting in New York County, and of the United States District Court of the Southern District of New York,
and any appellate court from any thereof, and each of the parties hereto irrevocably and unconditionally submits to the jurisdiction
of such courts and agrees that all claims in respect of any such action, litigation or proceeding may be heard and determined
in such New York State court or, to the fullest extent permitted by applicable law, in such federal court. Each of the parties
hereto agrees that a final judgment in any such action, litigation or proceeding shall be conclusive and may be enforced in other
jurisdictions by suit on the judgment or in any other manner provided by law. Nothing in this Agreement or in any other Credit
Document shall affect any right that each Agent, any Lender or any Issuing Bank may otherwise have to bring any action or proceeding
relating to this Agreement or any other Credit Document against any Credit Party or its properties in the courts of any jurisdiction.
Each party hereto irrevocably and unconditionally waives, to the fullest extent permitted by applicable law, any objection that
it may now or hereafter have to the laying of venue of any action or proceeding arising out of or relating to this Agreement or
any other Credit Document in any court referred to herein. Each of the parties hereto hereby irrevocably waives, to the fullest
extent permitted by applicable law, the defense of an inconvenient forum to the maintenance of such action or proceeding in any
such court. Each party hereto irrevocably consents to service of process in the manner provided for notices in Section 10.1.
Nothing in this Agreement will affect the right of any party hereto to serve process in any other manner permitted by applicable
law.

 

10.16
WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW,
ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT
OR ANY OTHER CREDIT DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER
THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PERSON HAS REPRESENTED, EXPRESSLY
OR OTHERWISE, THAT SUCH OTHER PERSON WOULD NOT, IF LITIGATION OCCURS, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES
THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE OTHER CREDIT DOCUMENTS BY, AMONG OTHER
THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION.

 

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10.17
Confidentiality. Each of the Agents, each of the Lenders and each Issuing Bank (each, a “Lender Party”)
shall hold all non-public information regarding Parent and its Subsidiaries and their business obtained by any Lender Party pursuant
to the requirements hereof or otherwise from or on behalf of Sponsor or Parent or any of their Affiliates or representatives,
in accordance with its customary procedures for handling confidential information of such nature, it being understood and agreed
by the Borrowers that, in any event, each Lender Party (a) may make disclosures of such non-public information (i) to its Affiliates
and to such Lender Party’s and its Affiliates’ respective employees, legal counsel, independent auditors and other
experts or agents and advisors or to such Lender Party’s current or prospective funding sources and to other Persons authorized
by such Lender Party to organize, present or disseminate such information in connection with disclosures otherwise made in accordance
with this Section 10.17 (it being understood that the Persons to whom such disclosure is made will be informed of the confidential
nature of such information and instructed to keep such information confidential); (ii) to any actual or potential assignee, transferee,
Participant or Securitization Party (in each case that is not a Disqualified Institution) of any rights, benefits, interests and/or
obligations under this Agreement or to any direct or indirect contractual counterparties (or the professional advisors thereto)
in swap or derivative transactions related to the Obligations (it being understood that (A) the Persons to whom such disclosure
is made will be informed of the confidential nature of such information and instructed to keep such information confidential and
(B) the DQ List may be disclosed to any assignee or Participant, or prospective assignee or Participant, in reliance on this clause
(ii)); (iii) to (A) any rating agency in connection with rating the Borrowers or the Restricted Subsidiaries or the Loans and/or
the Commitments or (B) the CUSIP Service Bureau or any similar agency in connection with the issuance and monitoring of CUSIP
numbers with respect to the Loans; (iv) as required or requested by any regulatory authority purporting to have jurisdiction over
such Lender Party or its Affiliates (including any self-regulatory authority, such as the NAIC); provided, unless prohibited
by applicable Law or court order, each Lender Party shall make reasonable efforts to notify the Borrower Representative of any
request by such regulatory authority (other than any such request in connection with any examination of the financial condition
or other routine examination of such Lender Party by such regulatory authority) for disclosure of any such non-public information
prior to the actual disclosure thereof; (v) to the extent required by order of any court, governmental agency or representative
thereof or in any pending legal or administrative proceeding, or otherwise as required by applicable Law or judicial process;
provided, unless prohibited by applicable Law or court order, each Lender Party shall make reasonable efforts to notify
the Borrower Representative of such required disclosure prior to the actual disclosure of such non-public information; (vi) in
connection with the exercise of any remedies hereunder or under any other Credit Document or any action or proceeding relating
to this Agreement or any other Credit Document or the enforcement of rights hereunder or thereunder, (vii) for purposes of establishing
a “due diligence” defense, (viii) with the consent of the Borrower Representative, or (ix) to the extent such
information (A) becomes publicly available other than as a result of a breach of this Section 10.17 or any confidentiality
obligation described in clause (i) or (ii) of this Section 10.17(a), (B) becomes available to such Lender Party or any of
its Affiliates on a non-confidential basis from a source other than Sponsor, a Credit Party or an Affiliate or representative
of either thereof, or (C) is independently developed by such Lender Party; (b) may disclose the existence of this Agreement and
customary marketing information about this Agreement to market data collectors and similar services providers to the lending industry
(including for league table designation purposes) and to service providers to such Lender Party in connection with the administration
and management of this Agreement and the other Credit Documents; and (c) may (at its own expense) place advertisements in financial
and other newspapers and periodicals or on a home page or similar place for dissemination of information on the Internet or worldwide
web as it may choose, and circulate similar promotional materials, in the form of a “tombstone” or otherwise describing
the names of the Borrowers or the Sponsor, and the type and closing date (but not amount) with respect to the transactions contemplated
hereby.

 

10.18
Usury Savings Clause. Notwithstanding any other provision herein, the aggregate interest rate charged with respect
to any of the Obligations, including all charges or fees in connection therewith deemed in the nature of interest under applicable
Law shall not exceed the Highest Lawful Rate. If the rate of interest (determined without regard to the preceding sentence) under
this Agreement at any time exceeds the Highest Lawful Rate, the outstanding amount of the Loans made hereunder shall bear interest
at the Highest Lawful Rate until the total amount of interest due hereunder equals the amount of interest which would have been
due hereunder if the stated rates of interest set forth in this Agreement had at all times been in effect. In addition, if when
the Loans made hereunder are repaid in full the total interest due hereunder (taking into account the increase provided for above)
is less than the total amount of interest which would have been due hereunder if the stated rates of interest set forth in this
Agreement had at all times been in effect, then to the extent permitted by law, the Borrowers shall pay to the Administrative
Agent an amount equal to the difference between the amount of interest paid and the amount of interest which would have been paid
if the Highest Lawful Rate had at all times been in effect. Notwithstanding the foregoing, it is the intention of the Lenders
and the Borrowers to conform strictly to any applicable usury Laws. Accordingly, if any Lender contracts for, charges, or receives
any consideration which constitutes interest in excess of the Highest Lawful Rate, then any such excess shall be cancelled automatically
and, if previously paid, shall at such Lender’s option be applied to the outstanding amount of the Loans made hereunder
or be refunded to the Borrowers.

 

10.19
No Strict Construction. The parties hereto have participated jointly in the negotiation and drafting of this Agreement.
If an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the
parties hereto and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship
of any provisions of this Agreement.

 

    	 	185	 

     

    

 

10.20
Counterparts; Effectiveness. This Agreement may be executed in counterparts (and by different parties hereto in different
counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract.
Delivery of an executed counterpart of a signature page of this Agreement by facsimile or in electronic (i.e., “pdf”
or “tif”) format shall be effective as delivery of a manually executed counterpart of this Agreement.

 

10.21
Integration. This Agreement and the other Credit Documents, and any separate letter agreements with respect to fees
payable to the Administrative Agent, constitute the entire contract among the parties relating to the subject matter hereof and
supersede any and all previous agreements and understandings, oral or written, relating to the subject matter hereof.

 

10.22
No Fiduciary Duty. Each Agent, each Issuing Bank, each Lender and their Affiliates (collectively, the “Lender
Affiliated Parties”), may have economic interests that conflict with those of the Credit Parties, and each Credit Party
acknowledges and agrees (a) nothing in the Credit Documents or otherwise will be deemed to create an advisory, fiduciary or agency
relationship or fiduciary or other implied duty between the Lender Affiliated Parties and each Credit Party, its stockholders
or its Affiliates; (b) the transactions contemplated by the Credit Documents are arm’s-length commercial transactions between
the Lender Affiliated Parties, on the one hand, and each Credit Party, on the other; (c) in connection therewith and with the
process leading to such transaction each of the Lender Affiliated Parties is acting solely as a principal and not the agent or
fiduciary of any Credit Party, its management, stockholders, creditors or any other Person; (d) none of the Lender Affiliated
Parties has assumed an advisory or fiduciary responsibility in favor of any Credit Party with respect to the transactions contemplated
hereby or the process leading thereto (regardless of whether any of the Lender Affiliated Parties or any of their respective Affiliates
has advised or is currently advising any Credit Party on other matters) or any other obligation to any Credit Party except the
obligations expressly set forth in the Credit Documents; (e) each Credit Party has consulted its own legal and financial advisors
to the extent it deemed appropriate; (f) each Credit Party is responsible for making its own independent judgment with respect
to such transactions and the process leading thereto; and (g) no Credit Party will claim that any of the Lender Affiliated Parties
has rendered advisory services of any nature or respect, or owes a fiduciary or similar duty to any Credit Party, in connection
with such transaction or the process leading thereto.

 

10.23
PATRIOT Act. Each Lender and the Administrative Agent (for itself and not on behalf of any Lender) hereby notifies
the Credit Parties that pursuant to the requirements of the PATRIOT Act, it is required to obtain, verify and record information
that identifies the Credit Parties, which information includes the name and address of each Credit Party and other information
that will allow such Lender or the Administrative Agent, as applicable, to identify the Credit Parties in accordance with the
PATRIOT Act.

 

10.24
Judgment Currency. In respect of any judgment or order given or made for any amount due under this Agreement or any
other Credit Document that is expressed and paid in a currency (the “judgment currency”) other than the currency
in which it is expressed to be payable under this Agreement or other Credit Document, the party hereto owing such amount due will
indemnify the party due such amount against any loss incurred by them as a result of any variation as between (a) the rate of
exchange at which the United States dollar amount is converted into the judgment currency for the purpose of such judgment or
order and (b) the rate of exchange, as quoted by the Administrative Agent or by a known dealer in the judgment currency that is
designated by the Administrative Agent, at which the Administrative Agent, such Issuing Bank or such Lender is able to purchase
Dollars with the amount of the judgment currency actually received by the Administrative Agent, such Issuing Bank or such Lender.
The foregoing indemnity shall constitute a separate and independent obligation of the applicable party and shall survive any termination
of this Agreement and the other Credit Documents, and shall continue in full force and effect notwithstanding any such judgment
or order as aforesaid. The term “rate of exchange” shall include any premiums and costs of exchange payable in connection
with the purchase of or conversion into Dollars.

 

    	 	186	 

     

    

 

10.25
Acknowledgement and Consent to Bail-In of EEA Financial Institutions. Notwithstanding anything to the contrary in any
Credit Document or in any other agreement, arrangement or understanding among any such parties, each party hereto acknowledges
that any liability of any EEA Financial Institution arising under any Credit Document, to the extent such liability is unsecured,
may be subject to the write-down and conversion powers of an EEA Resolution Authority and agrees and consents to, and acknowledges
and agrees to be bound by:

 

(a)
the application of any Write-Down and Conversion Powers by an EEA Resolution Authority to any such liabilities arising hereunder
which may be payable to it by any party hereto that is an EEA Financial Institution; and

 

(b)
the effects of any Bail-in Action on any such liability, including, if applicable (i) a reduction in full or in part or cancellation
of any such liability, (ii) a conversion of all, or a portion of, such liability into shares or other instruments of ownership
in such EEA Financial Institution, its parent undertaking, or a bridge institution that may be issued to it or otherwise conferred
on it, and that such shares or other instruments of ownership will be accepted by it in lieu of any rights with respect to any
such liability under this Agreement or any other Credit Document or (iii) the variation of the terms of such liability in connection
with the exercise of the write-down and conversion powers of any EEA Resolution Authority.

 

[remainder
of page intentionally left blank]

 

    	 	187	 

     

    

 

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

 

	 
	NRC
    US HOLDING COMPANY, LLC, as a Borrower
	 	 	 
	 	By:	/s/
    Glenn M. Shor
	 		Name:
    Glenn M. Shor
	 		Title:
    Secretary 
	 	 	 
	 	SPRINT
    ENERGY SERVICES, LLC, as a Borrower
	 	 	 
	 	By:	/s/
    Philip Bowman
	 		Name:
    Philip Bowman 
	 		Title:
    Chief Financial Officer 
	 	 	 
	 	NRC
    GROUP HOLDINGS, LLC
	 	 	 
	 	By:	/s/
    Glenn M. Shor
	 		Name:
    Glenn M. Shor 
	 		Title:
    Assistant Secretary 
	 	 	 
	 	JFL-NRC
    HOLDINGS, LLC
	 	NATIONAL
    RESPONSE CORPORATION
	 	NRC
    ENVIRONMENTAL SERVICES INC.
	 	OSRV
    HOLDINGS, INC.
	 	NRC
    PAYROLL MANAGEMENT LLC
	 	NRC
    ALASKA, LLC
	 	SPECIALIZED
    RESPONSE SOLUTIONS, L.P.
	 	 	 
	 	By:	/s/
    Glenn M. Shor
	 		Name:
    Glenn M. Shor
	 		Title:
    Secretary
	 	 	 
	 	SES
    HOLDCO, LLC
	 	 	 
	 	SPRINT
    KARNES COUNTY DISPOSAL LLC
	 	 
	 	By:	/s/
    Glenn M. Shor
	 		Name:
    Glenn M. Shor
	 		Title:
    Vice President

 

[Signature Page Credit and Guaranty Agreement]

 

     

     

    

 

	 	ENPRO
    HOLDINGS GROUP, INC.
	 	ENPRO
    SERVICES OF MAINE, INC.
	 	ENPRO
    SERVICES OF VERMONT, INC.
	 	TMC
    SERVICES, INC.
	 	 	 
	 	By:	/s/
    Paul Taveira
	 		Name:
    Paul Taveira
	 		Title:
    President
	 	 	 
	 	PROGRESSIVE
    ENVIRONMENTAL SERVICES, INC.
	 	SOUTHERN
    WASTE, INC.
	 	EAGLE
    CONSTRUCTION AND ENVIRONMENTAL SERVICES, LLC
	 	 	 
	 	By:	/s/
    Glenn M. Shor
	 		Name:
    Glenn M. Shor
	 		Title:
    Treasurer and Assistant Secretary
	 	 	 
	 	NRC
    NY ENVIRONMENTAL SERVICES, INC.
	 	NRC
    EAST ENVIRONMENTAL SERVICES, INC.
	 	 	 
	 	By:	/s/
    Paul Taveira
	 		Name:
    Paul Taveira
	 		Title:
    President and CEO

 

[Signature
Page Credit and Guaranty Agreement]

 

     

     

    

 

	 

         
	BNP PARIBAS, as Administrative Agent, Collateral Agent, Swing Line Lender, Issuing Bank and a Lender
	 	 
	 	By:	/s/
    Michael Colias
	 		Name: Michael
    Colias
	 		Title: Managing
    Director
	 	 	 
	 	By:	/s/
    Davin Engelson
	 		Name: Davin
    Engelson
	 		Title: Director

 

[Signature
Page Credit and Guaranty Agreement]

 

     

     

    

 

APPENDIX
A-1

TO CREDIT AND GUARANTY AGREEMENT

 

Initial
Term Loan Commitments

 

	Lender	 	Initial Term Loan
 Commitment	 	 	Pro
 Rata Share	 
	BNP Paribas	 	$	308,000,000.00	 	 	$	100.0	%
	Total	 	$	308,000,000.00	 	 	 	100	%

 

    A-1, page 1

     

    

 

APPENDIX
A-2

TO CREDIT AND GUARANTY AGREEMENT

 

Revolving
Credit Commitments

 

	
Lender
	 	Revolving Credit Commitment	 	 	Pro
 Rata Share	 
	BNP Paribas	 	$	40,000,000.00	 	 		100.0	%
	Total	 	$	40,000,000.00	 	 	 	100	%

 

    A-2, page 1

     

    

 

APPENDIX
B

TO CREDIT AND GUARANTY AGREEMENT

 

Notice
Addresses

 

To
any of the Credit Parties:

 

c/o
NRC US HOLDING COMPANY, LLC

3500
Sunrise Hwy

Suite
200, Building 200

Great
River, New York 11739-1001

Attention:
Joseph Peterson; Jim Michaud

Telephone:
631.892.3432; 631.892.3441

Telecopy:
631.224.9082

Email:
jpeterson@nrcc.com; jmichaud@nrcc.com

 

with
a copy to:

 

J.F.
Lehman & Company

110
East 59th Street, 27th Floor

New
York, NY 10022

Attention:
C. Alexander Harman and Glenn Shor

Telephone:
212.634.1152; 212.634.1184

Telecopy:
212.634.1155

Email:
cah@jflpartners.com; gms@jflpartners.com

 

and
a copy to:

 

Jones
Day

250
Vesey Street

New
York, NY 10281-1047

Attention:
Charles N. Bensinger III

Telecopy:
212.326.3797

Email:
cnbensinger@jonesday.com

 

    	 	B - 1	 

     

    

 

BNP
Paribas,

as
Administrative Agent, Collateral Agent, Swing Line Lender,

Issuing
Bank and a Lender

 

Payment
Office:

 

BNP
Paribas RCC

Regional
Agency

2001
Robert-Bourassa, Montreal, QC H3A 2A6

Attention:
Yu Shan Cui

Telephone:
(514) 908-5755

Telecopy:
(201) 616-7912

Email:
dl.nyk.regional.agency@ca.bnpparibas.com

 

Notice
Office:

 

BNP
PARIBAS

787
Seventh Avenue

New
York, NY 10019

Attention:
Charles Romano / Daier Song

Telephone:
(212) 841-2968 / (917) 472-4789

Email:
charles.romano@us.bnpparibas.com / daier.song@us.bnpparibas.com

 

with
a copy to:

 

BNP
Paribas

155
N Wacker Dr., Ste. 4450

Chicago,
IL 60606

Attention:
Michael Colias

Telephone:
312-977-2235

Telecopy:
815-824-4326

Email:
michael.colias@us.bnpparibas.com

 

and
a copy to (other than Funding Notices, Issuance Notices and Conversion/Continuation Notices):

 

Winston
& Strawn LLP

200 Park Avenue

New York, New York 10166

Attention: Mats G. Carlston

Telephone: 212-294-6696

Telecopy: 212-294-4700

Email: mcarlston@winston.com

 

    	 	B - 2	 

     

    

 

APPENDIX
C

TO CREDIT AND GUARANTY AGREEMENT

 

Dutch
Auction Procedures

 

This
outline is intended to summarize certain basic terms of procedures with respect to certain Borrower buy-backs pursuant to and
in accordance with the terms and conditions of Section 10.6(g) of the Credit Agreement to which this Appendix C is attached. It
is not intended to be a definitive list of all of the terms and conditions of a Dutch Auction and all such terms and conditions
shall be set forth in the applicable auction procedures documentation set for each Dutch Auction (the “Offer Documents”).
None of the Administrative Agent, BNP Paribas Securities Corp. (or, if BNP Paribas Securities Corp. declines to act in such capacity,
an investment bank of recognized standing selected by the Borrower Representative) (the “Auction Manager”)
or any of their respective Affiliates makes any recommendation pursuant to the Offer Documents as to whether or not any Term Loan
Lender should sell by assignment any of its Term Loans pursuant to the Offer Documents (including, for the avoidance of doubt,
by participating in the Dutch Auction as a Term Loan Lender) or whether or not the Borrowers should purchase by assignment any
Term Loans from any Term Loan Lender pursuant to any Dutch Auction. Each Term Loan Lender should make its own decision as to whether
to sell by assignment any of its Term Loans and, if so, the principal amount of and price to be sought for such Term Loans. In
addition, each Term Loan Lender should consult its own attorney, business advisor or tax advisor as to legal, business, tax and
related matters concerning any Dutch Auction and the Offer Documents. Capitalized terms not otherwise defined in this Appendix
C have the meanings assigned to them in the Credit Agreement.

 

Summary.
The Borrowers may purchase (by assignment) Term Loans on a non-pro rata basis by conducting one or more Dutch Auctions pursuant
to the procedures described herein; provided, no more than one Dutch Auction may be ongoing at any one time and no more
than two Dutch Auctions may be made in any period of four consecutive Fiscal Quarters of the Borrowers.

 

1.
Notice Procedures. In connection with each Dutch Auction, the Borrower Representative will notify the Auction Manager (for
distribution to the Term Loan Lenders) of the Term Loans that will be the subject of the Dutch Auction by delivering to the Auction
Manager a written notice in form and substance reasonably satisfactory to the Auction Manager (an “Auction Notice”).
Each Auction Notice shall contain (i) the maximum principal amount of Term Loans the Borrowers are willing to purchase (by assignment)
in the Dutch Auction (the “Auction Amount”), which shall be no less than $10,000,000 or an integral multiple
of $1,000,000 in excess of thereof, (ii) the range of discounts to par (the “Discount Range”), expressed as
a range of prices per $1,000 of Term Loans, at which the Borrowers would be willing to purchase Term Loans in the Dutch Auction
and (iii) the date on which the Dutch Auction will conclude, on which date Return Bids (as defined below) will be due at the time
provided in the Auction Notice (such time, the “Expiration Time”), as such date and time may be extended upon
notice by the Borrower Representative to the Auction Manager not less than 24 hours before the original Expiration Time. The Auction
Manager will deliver a copy of the Offer Documents to each Term Loan Lender promptly following completion thereof.

 

    	 	C - 1	 

     

    

 

2.
Reply Procedures. In connection with any Dutch Auction, each Term Loan Lender holding Term Loans wishing to participate
in such Dutch Auction shall, prior to the Expiration Time, provide the Auction Manager with a notice of participation in form
and substance reasonably satisfactory to the Auction Manager (the “Return Bid”) to be included in the Offer
Documents, which shall specify (i) a discount to par that must be expressed as a price per $1,000 of Term Loans (the “Reply
Price”) within the Discount Range and (ii) the principal amount of Term Loans, in an amount not less than $1,000,000,
that such Term Loan Lender is willing to offer for sale at its Reply Price (the “Reply Amount”); provided,
each Term Loan Lender may submit a Reply Amount that is less than the minimum amount and incremental amount requirements described
above only if the Reply Amount equals the entire amount of the Term Loans held by such Term Loan Lender at such time. A Term Loan
Lender may only submit one Return Bid per Dutch Auction, but each Return Bid may contain up to three component bids, each of which
may result in a separate Qualifying Bid (as defined below) and each of which will not be contingent on any other component bid
submitted by such Term Loan Lender resulting in a Qualifying Bid. In addition to the Return Bid, a participating Term Loan Lender
must execute and deliver, to be held by the Auction Manager, an assignment and acceptance in the form included in the Offer Documents
which shall be in form and substance reasonably satisfactory to the Auction Manager and the Administrative Agent (the “Auction
Assignment and Acceptance”). The Borrowers will not purchase any Term Loans at a price that is outside of the applicable
Discount Range, nor will any Return Bids (including any component bids specified therein) submitted at a price that is outside
such applicable Discount Range be considered in any calculation of the Applicable Threshold Price (as defined below).

 

3.
Acceptance Procedures. Based on the Reply Prices and Reply Amounts received by the Auction Manager, the Auction Manager,
in consultation with the Borrower Representative, will calculate the lowest purchase price (the “Applicable Threshold
Price”) for the Dutch Auction within the Discount Range for the Dutch Auction that will allow the Borrowers to complete
the Dutch Auction by purchasing the full Auction Amount (or such lesser amount of Term Loans for which the Borrowers have received
Qualifying Bids). The Borrowers shall purchase (by assignment) Term Loans from each Term Loan Lender whose Return Bid is within
the Discount Range and contains a Reply Price that is equal to or less than the Applicable Threshold Price (each, a “Qualifying
Bid”). All Term Loans included in Qualifying Bids received at a Reply Price lower than the Applicable Threshold Price
will be purchased at a purchase price equal to the applicable Reply Price and shall not be subject to proration. If a Term Loan
Lender has submitted a Return Bid containing multiple component bids at different Reply Prices, then all Term Loans of such Term
Loan Lender offered in any such component bid that constitutes a Qualifying Bid with a Reply Price lower than the Applicable Threshold
Price shall also be purchased at a purchase price equal to the applicable Reply Price and shall not be subject to proration.

 

4.
Proration Procedures. All Term Loans offered in Return Bids (or, if applicable, any component bid thereof) constituting
Qualifying Bids equal to the Applicable Threshold Price will be purchased at a purchase price equal to the Applicable Threshold
Price; provided, if the aggregate principal amount of all Term Loans for which Qualifying Bids have been submitted in any
given Dutch Auction equal to the Applicable Threshold Price would exceed the remaining portion of the Auction Amount (after deducting
all Term Loans purchased below the Applicable Threshold Price), the Borrowers shall purchase the Term Loans for which the Qualifying
Bids submitted were at the Applicable Threshold Price ratably based on the respective principal amounts offered and in an aggregate
amount up to the amount necessary to complete the purchase of the Auction Amount. For the avoidance of doubt, no Return Bids (or
any component thereof) will be accepted above the Applicable Threshold Price.

 

5.
Notification Procedures. The Auction Manager will calculate the Applicable Threshold Price no later than the five (5) Business
Days after the date that the Return Bids were due. The Auction Manager will insert the amount of Term Loans to be assigned and
the applicable settlement date determined by the Auction Manager in consultation with the Borrower Representative onto each applicable
Auction Assignment and Acceptance received in connection with a Qualifying Bid. Upon written request of the submitting Term Loan
Lender, the Auction Manager will promptly return any Auction Assignment and Acceptance received in connection with a Return Bid
that is not a Qualifying Bid.

 

    	 	C - 2	 

     

    

 

6.
Additional Procedures. Once initiated by an Auction Notice, the Borrowers may withdraw a Dutch Auction by written notice
to the Auction Manager no later than 24 hours before the original Expiration Time so long as no Qualifying Bids have been received
by the Auction Manager at or prior to the time the Auction Manager receives such written notice from the Borrower Representative.
Any Return Bid (including any component bid thereof) delivered to the Auction Manager may not be modified, revoked, terminated
or cancelled; provided, a Term Loan Lender may modify a Return Bid at any time prior to the Expiration Time solely to reduce
the Reply Price included in such Return Bid. However, a Dutch Auction shall become void if the Borrowers fail to satisfy one or
more of the conditions to the purchase of Term Loans set forth in, or to otherwise comply with the provisions of Section 10.6
(g) of the Credit Agreement. The purchase price for all Term Loans purchased in a Dutch Auction shall be paid in cash by the Borrowers
directly to the respective assigning Term Loan Lender on a settlement date as determined by the Auction Manager in consultation
with the Borrower Representative (which shall be no later than ten (10) Business Days after the date Return Bids are due), along
with accrued and unpaid interest (if any) on the applicable Term Loans up to the settlement date. The Borrowers shall execute
each applicable Auction Assignment and Acceptance received in connection with a Qualifying Bid.

 

All
questions as to the form of documents and validity and eligibility of Term Loans that are the subject of a Dutch Auction will
be determined by the Auction Manager, in consultation with the Borrower Representative, and the Auction Manager’s determination
will be conclusive, absent manifest error. The Auction Manager’s interpretation of the terms and conditions of the Offer
Document, in consultation with the Borrower Representative, will be final and binding.

 

None
of the Administrative Agent, the Auction Manager, any other Agent or any of their respective Affiliates assumes any responsibility
for the accuracy or completeness of the information concerning the Borrowers, the Restricted Subsidiaries or any of their Affiliates
contained in the Offer Documents or otherwise or for any failure to disclose events that may have occurred and may affect the
significance or accuracy of such information.

 

The
Auction Manager acting in its capacity as such under a Dutch Auction shall be entitled to the benefits of the provisions of Sections
9, 10.2 and 10.3 of the Credit Agreement to the same extent as if each reference therein to the “Administrative Agent”
were a reference to the Auction Manager, each reference therein to the “Credit Documents” were a reference to the
Offer Documents, the Auction Notice and Auction Assignment and Acceptance and each reference therein to the “Transactions”
were a reference to the transactions contemplated hereby and the Administrative Agent shall cooperate with the Auction Manager
as reasonably requested by the Auction Manager in order to enable it to perform its responsibilities and duties in connection
with each Dutch Auction.

 

This
Appendix C shall not require Parent or any Restricted Subsidiary to initiate any Dutch Auction, nor shall any Term Loan Lender
be obligated to participate in any Dutch Auction.

 

    	 	C - 3Exhibit 10.2

 

 

 

PLEDGE AND SECURITY AGREEMENT

 

dated as of June 11, 2018

 

among

 

NRC US HOLDING COMPANY, LLC and SPRINT
ENERGY SERVICES, LLC,

each as a Borrower

 

NRC GROUP HOLDINGS, LLC,

as Parent

 

JFL-NRC HOLDINGS, LLC and SES
HOLDCO, LLC,

as Holding Companies

 

EACH OF THE OTHER GRANTORS PARTY HERETO

 

and

 

BNP PARIBAS,

as Collateral Agent

 

 

 

     

     

    

 

TABLE
OF CONTENTS

 

	 	 	PAGE
	SECTION 1.	DEFINITIONS AND INTERPRETATION	1
	1.1.	Terms Defined Herein	1
	1.2.	UCC Definitions	6
	1.3.	Credit Agreement Definitions	6
	1.4.	Interpretation	6
	1.5.	Credit Agreement Governs	6
	 	 	 
	SECTION 2.	SECURITY FOR OBLIGATIONS.	6
	2.1.	Grant of Security	6
	2.2.	Continuing Security Interest	7
	2.3.	Grantors Remain Liable	7
	 	 	 
	SECTION 3.	REPRESENTATIONS AND WARRANTIES.	7
	3.1.	Grantor Information, Etc.	7
	3.2.	Collateral Identification, Etc.	8
	3.3.	Ownership of Collateral, Etc.	8
	3.4.	Status of Security Interest.	9
	3.5.	Receivables	9
	3.6.	Pledged Equity Interests.	10
	3.7.	Intellectual Property.	10
	3.8.	Title to Vessels.	11
	 	 	 
	SECTION 4.	COVENANTS AND AGREEMENTS.	11
	4.1.	Perfection and Certain Other Actions.	11
	4.2.	Grantor Information and Status	14
	4.3.	Inventory and Equipment.	14
	4.4.	Receivables.	14
	4.5.	Investment Related Property.	15
	4.6.	Intellectual Property.	16
	4.7.	Commercial Tort Claims	16
	4.8.	Special Collateral	16
	4.9.	Further Assurances	17
	4.10.	Relation to Certain other Security Documents	17
	 	 	 
	SECTION 5.	ADDITIONAL GRANTORS.	17
	 	 	 
	SECTION 6.	COLLATERAL AGENT APPOINTED ATTORNEY-IN-FACT	17
	6.1.	Power of Attorney	17
	6.2.	No Duty	18
	 	 	 
	SECTION 7.	REMEDIES.	18
	7.1.	Rights and Remedies.	18
	7.2.	Cash Proceeds	19
	7.3.	Deposit Accounts	19
	7.4.	Investment Related Property	20
	7.5.	Intellectual Property.	20
	7.6.	Marshalling	21
	7.7.	Application of Proceeds	21
	7.8.	Specific Performance	22

 

    	 	- i -	 

     

    

 

	SECTION 8.	TERMINATION AND RELEASE.	22
	 	 	 
	SECTION 9.	COLLATERAL AGENT	22
	9.1.	Appointment, Etc.	22
	9.2.	Standard of Care	23
	 	 	 
	SECTION 10.	MISCELLANEOUS.	23
	10.1.	Notices	23
	10.2.	Expenses	23
	10.3.	Indemnity	23
	10.4.	Amendments and Waivers	23
	10.5.	Successors and Assigns	23
	10.6.	Independence of Covenants	23
	10.7.	Survival of Representations, Warranties and Agreements	23
	10.8.	No Waiver; Remedies Cumulative	24
	10.9.	Severability	24
	10.10.	Headings	24
	10.11.	Governing Law	24
	10.12.	Consent to Jurisdiction	24
	10.13.	WAIVER OF JURY TRIAL	24
	10.14.	Counterparts	25
	10.15.	No Strict Construction	25
	10.16.	Intercreditor Agreement	25
	10.17.	Jones Act Restrictions	25

 

	SCHEDULES:	3.1	Grantor Information and Status
	 	3.2	Collateral Identification
	 	 	 
	EXHIBITS:	A	Form of Pledge Supplement
	 	B	Form of Intellectual Property Security Agreement

 

    	 	- ii -	 

     

    

 

PLEDGE AND SECURITY AGREEMENT

 

This PLEDGE AND
SECURITY AGREEMENT, dated as of June 11, 2018 (as it may be amended, restated, supplemented or otherwise modified from time
to time, this “Agreement”), is entered into by and among NRC US HOLDING COMPANY, LLC, a Delaware limited
liability company (the “NRC Borrower”) and SPRINT ENERGY SERVICES, LLC, a Delaware limited liability
company (the “Sprint Borrower”, and collectively with the NRC Borrower, the “Borrowers” and
each a “Borrower”), JFL-NRC HOLDINGS, LLC, a Delaware limited liability company (“NRC Holdings”),
SES HOLDCO, LLC, a Delaware limited liability company (“Sprint Holdings”, and collectively with NRC Holdings,
the “Holding Companies” and each a “Holding Company”), NRC GROUP HOLDINGS, LLC (“Parent”),
CERTAIN OTHER SUBSIDIARIES OF PARENT PARTY HERETO, as Grantors (together with the Borrowers, Holding Companies and Parent,
collectively, the “Grantors”, and each, a “Grantor”), and BNP PARIBAS, as collateral
agent (together with its permitted successors in such capacity, the “Collateral Agent”).

 

RECITALS:

 

WHEREAS, capitalized
terms used in these Recitals shall have the respective meanings set forth for such terms in Section 1.1 hereof;

 

WHEREAS, reference
is made to that certain Credit and Guaranty Agreement, dated as of the date hereof (as it may be amended, restated, supplemented
or otherwise modified from time to time, the “Credit Agreement”), by and among the Borrowers, Parent, Holding
Companies, certain other Subsidiaries of Parent, as Guarantors, the Lenders party thereto from time to time, and BNP PARIBAS,
as Administrative Agent and as Collateral Agent;

 

WHEREAS, subject
to the terms and conditions of the Credit Agreement, certain Grantors may enter into one or more Secured Swap Contracts with one
or more Eligible Counterparties;

 

WHEREAS, subject
to the terms and conditions of the Credit Agreement, certain Grantors may enter into one or more Cash Management Agreements with
one or more Cash Management Banks; and

 

WHEREAS, in
consideration of the extensions of credit and other accommodations of the Lenders, Eligible Counterparties and Cash Management
Banks as set forth in the Credit Agreement, the Secured Swap Contracts and the Cash Management Agreements, respectively, each Grantor
has agreed to secure such Grantor’s obligations under the Credit Documents, the Secured Swap Contracts and the Cash Management
Agreements as set forth herein.

 

NOW, THEREFORE,
in consideration of the premises and the agreements, provisions and covenants herein contained, each Grantor and the Collateral
Agent agree as follows:

 

		SECTION 1.	DEFINITIONS AND INTERPRETATION

 

1.1.
Terms Defined Herein. The following terms used herein, including in the preamble, recitals, exhibits and schedules hereto,
shall have the following meanings:

 

“Agreement”
as defined in the preamble hereto.

 

“Borrower”
and “Borrowers” as defined in the preamble hereto.

 

“Cash Proceeds”
as defined in Section 7.2.

 

     

     

    

 

“Collateral”
means, with respect to each Grantor, such Grantor’s right, title and interest in, to and under all personal property of such
Grantor whether now owned or existing or hereafter acquired or arising and wherever located, including the following: (i) Accounts;
(ii) Chattel Paper; (iii) Documents; (iv) General Intangibles; (v) Goods; (vi) Instruments; (vii) Insurance; (viii) Intellectual
Property and Intellectual Property Licenses; (ix) Investment Related Property, including Deposit Accounts; (x) Letter-of-Credit
Rights; (xi) Money; (xii) Receivables and Receivable Records; (xiii) Commercial Tort Claims set forth on Schedule 3.2 (as
supplemented from time to time in accordance with Section 4.7); (xiv) Material Vessels; (xv) to the extent not otherwise included
above, all other personal property of any kind and all Collateral Records, Collateral Support and Supporting Obligations relating
to any of the foregoing, and all tangible property embodying Copyrights or any copyrighted materials; and (xvi) to the extent not
otherwise included above, all Proceeds, products, accessions, rents and profits of or in respect of any of the foregoing; provided,
as of any date of determination, the term “Collateral” shall not include any asset that is an Excluded Asset as of
such date.

 

“Collateral
Account” means any account established as a collateral account by the Collateral Agent pursuant to the Credit Agreement
or hereto.

 

“Collateral
Agent” as defined in the preamble hereto.

 

“Collateral
Records” means books, records, ledger cards, files, correspondence, customer lists, supplier lists, blueprints, technical
specifications, manuals, computer software and related documentation, computer printouts, tapes, disks and other electronic storage
media and related data processing software and similar items that at any time evidence or contain information relating to any of
the Collateral or are otherwise necessary or helpful in the collection thereof or realization thereupon.

 

“Collateral
Support” means all property (real or personal) assigned, hypothecated or otherwise securing any Collateral and shall
include any security agreement or other agreement granting a lien or security interest in such real or personal property.

 

“Control”
means (i) with respect to any Deposit Account, “control” within the meaning of Section 9-104 of the UCC; (ii) with
respect to any Securities Account, Security Entitlement, Commodity Contract or Commodity Account, “control” within
the meaning of Section 9-106 of the UCC; (iii) with respect to any Uncertificated Security, “control” within the meaning
of Section 8-106(c) of the UCC; (iv) with respect to any Certificated Security, “control” within the meaning of Section
8-106(a) or (b) of the UCC; (v) with respect to any Letter-of-Credit Right, “control” within the meaning of Section
9-107 of the UCC; (vi) with respect to any Electronic Chattel Paper, “control” within the meaning of Section 9-105
of the UCC; and (vii) with respect to any “transferable record”(as that term is defined in Section 201 of the Federal
Electronic Signatures in Global and National Commerce Act or in Section 16 of the Uniform Electronic Transactions Act as in effect
in any relevant jurisdiction), “control” within the meaning of Section 201 of the Federal Electronic Signatures in
Global and National Commerce Act or in Section 16 of the Uniform Electronic Transactions Act as in effect in the jurisdiction relevant
to such transferable record.

 

“Copyright
Licenses” means any and all agreements, licenses and covenants providing for the granting of any right in or to Copyrights
or otherwise providing for a covenant not to sue (whether the applicable Grantor is licensee or licensor thereunder) regarding
a copyright.

 

    	 	- 2 -	 

     

    

 

“Copyrights”
means all United States copyrights (including Community designs), including but not limited to copyrights in software and all rights
in and to databases, and all Mask Works (as defined under 17 USC 901 of the United States Copyright Act), whether registered
or unregistered, moral rights, reversionary interests, termination rights, and, with respect to any and all of the foregoing: (i)
all registrations and applications therefor; (ii) all extensions and renewals thereof; (iii) all rights corresponding thereto throughout
the world; (iv) all rights in any material which is copyrightable under or which is protected by United States federal laws or
the law of any state thereof; (v) all rights to sue for past, present and future infringements thereof; and (vi) all Proceeds of
the foregoing, including any royalties or income from the Copyright Licenses and any and all payments, claims, damages and proceeds
of suit.

 

“Credit Agreement”
as defined in the recitals hereto.

 

“Excluded
Account” means any (i) withholding tax, trust, escrow, payroll, employee benefit or other fiduciary account, (ii) zero
balance account or (iii) account maintained solely for the benefit of third parties as cash collateral constituting Permitted Liens
for obligations owing to such third parties.

 

“Excluded
Asset” as defined in the Credit Agreement.

 

“Grantor”
as defined in the preamble hereto.

 

“Holding Companies”
as defined in the preamble hereto.

 

“Insurance”
means (i) all insurance policies covering any or all of the Collateral (regardless of whether the Collateral Agent is the loss
payee thereof) and (ii) any key man life insurance policies.

 

“Intellectual
Property” means, collectively, the Copyrights, the Patents, the Trademarks and the Trade Secrets.

 

“Intellectual
Property Licenses” means, collectively, the Copyright Licenses, the Patent Licenses, the Trademark Licenses and the Trade
Secret Licenses.

 

“Intellectual
Property Security Agreement” means that Intellectual Property Security Agreement substantially in the form of Exhibit
B hereto or otherwise acceptable to the Collateral Agent that is executed and delivered to the Collateral Agent by each applicable
Grantor.

 

“Investment
Accounts” means the Collateral Account (if any) and the Securities Accounts, Commodities Accounts and Deposit Accounts
included in the Collateral. For the avoidance of doubt, “Investment Accounts” shall not include any Excluded Account.

 

“Investment
Related Property” means all Investment Property (as defined in Section 1.2), together with all of the following (regardless
of whether classified as Investment Property): all Pledged Equity Interests, Pledged Debt, the Investment Accounts and certificates
of deposit.

 

“Material”
means (i) as of any date of determination, as to any Instrument, any individual Instrument that has a value in excess of $500,000,
or $1,000,000 in the aggregate for all such Instruments; (ii) as to any Intellectual Property or Intellectual Property License,
that such Intellectual Property or Intellectual Property License is, individually or in the aggregate, material to the business
of Parent and its Restricted Subsidiaries, taken as a whole; and (iii) as of any date of determination, as to any other item of
Collateral (other than Vessels), that such item has a Fair Market Value of $500,000 or more, and collectively with all other of
such items, a Fair Market Value of $1,000,000 or more.

 

“Parent”
as defined in the preamble hereto.

 

    	 	- 3 -	 

     

    

 

“Patent Licenses”
means all agreements, licenses and covenants providing for the granting of any right in or to Patents or otherwise providing for
a covenant not to sue (whether the applicable Grantor is licensee or licensor thereunder) regarding a Patent.

 

“Patents”
means all United States patents and certificates of invention, or similar industrial property, design or plant rights, for
any of the foregoing, including, but not limited to: (i) all registrations, provisional and applications therefor; (ii) all reissues,
divisions, continuations, continuations-in-part, extensions, renewals, and reexaminations therefor; (iii) all rights corresponding
thereto throughout the world; (iv) all inventions and improvements described therein; (v) all rights to sue for past, present and
future infringements thereof; and (vi) all Proceeds of the foregoing, including any royalties or income from the Patent Licenses
and any and all payments, claims, damages and proceeds of suit.

 

“Pledge Supplement”
means a supplement to this Agreement substantially in the form of Exhibit A hereto or otherwise acceptable to the Collateral Agent.

 

“Pledged Debt”
means all indebtedness for borrowed money owed to any Grantor, regardless of whether evidenced by any Instrument, issued by the
obligors named therein, the instruments, if any, evidencing any of the foregoing, and all interest, cash, instruments and other
property or proceeds from time to time received, receivable or otherwise distributed in respect of or in exchange for any or all
of the foregoing.

 

“Pledged Equity
Interests” means all Pledged Stock, Pledged LLC Interests, Pledged Partnership Interests and any other participation
or interests in any equity or profits of any business entity including any trust; provided, no Excluded Asset shall constitute
a Pledged Equity Interest.

 

“Pledged LLC
Interests” means all interests in any limited liability company and each series thereof, including without limitation
all of the economic interest and the right to vote or otherwise control the limited liability company and all rights as a member,
and the certificates, if any, representing such limited liability company interests and any interest of any Grantor on the books
and records of such limited liability company or on the books and records of any securities intermediary pertaining to such interest
and all dividends, distributions, cash, warrants, rights, options, instruments, Securities and other property or proceeds from
time to time received, receivable or otherwise distributed in respect of or in exchange for any or all of such limited liability
company interests.

 

“Pledged Partnership
Interests” means all interests in any general partnership, limited partnership, limited liability partnership or other
partnership, and the certificates, if any, representing such partnership interests and any interest of any Grantor on the books
and records of such partnership or on the books and records of any securities intermediary pertaining to such interest and all
dividends, distributions, cash, warrants, rights, options, instruments, Securities and other property or proceeds from time to
time received, receivable or otherwise distributed in respect of or in exchange for any or all of such partnership interests.

 

“Pledged Stock”
means all Equity Interests (other than Pledged LLC Interests and Pledged Partnership Interests) owned by any Grantor, and the certificates,
if any, representing such shares and any interest of any Grantor in the entries on the books of the issuer of such shares or on
the books of any securities intermediary pertaining to such shares, and all dividends, distributions, cash, warrants, rights, options,
instruments, Securities and other property or proceeds from time to time received, receivable or otherwise distributed in respect
of or in exchange for any or all of such shares.

 

“Prohibited
Controlling Interest” as defined in Section 10.17.

 

    	 	- 4 -	 

     

    

 

“Receivables”
means all rights to payment, regardless of whether earned by performance, for goods or other property sold, leased, licensed, assigned
or otherwise disposed of, or services rendered or to be rendered, including all such rights constituting or evidenced by any Account,
Chattel Paper, Instrument, General Intangible or Investment Related Property, together with all of each Grantor’s rights,
if any, in any goods or other property giving rise to such right to payment and all Collateral Support and Supporting Obligations
related thereto and all Records relating thereto.

 

“Secured Obligations”
means all of the Obligations, but excluding with respect to any Grantor at any time, Excluded Swap Obligations with respect to
such Grantor at such time.

 

“Secured Parties”
means the Agents, the Lenders, the Eligible Counterparties and Cash Management Banks in their capacity as such under any Credit
Document, Secured Swap Contract or Cash Management Agreement and shall include, without limitation, all former Agents, Lenders,
Eligible Counterparties and Cash Management Banks in such capacity to the extent that any Obligations owing to such Persons were
incurred while such Persons were Agents, Lenders, Eligible Counterparties or Cash Management Banks and such Obligations have not
been paid or satisfied in full.

 

“Special Collateral”
means any of the following: (i) Farm Products; (ii) As-Extracted Collateral; (iii) Manufactured Homes; (iv) Health-Care-Insurance
Receivables; (v) timber to be cut; (vi) aircraft, aircraft engines, satellites, or railroad rolling stock; or (vii) the Proceeds
of any of the foregoing.

 

“Trademark
Licenses” means any and all agreements, licenses and covenants providing for the granting of any right in or to Trademarks
or otherwise providing for a covenant not to sue or permitting co-existence (whether the applicable Grantor is licensee or licensor
thereunder) regarding a Trademark.

 

“Trademarks”
means all United States trademarks, trade names, corporate names, company names, business names, fictitious business names, Internet
domain names, service marks, certification marks, collective marks, logos, other source or business identifiers, designs and general
intangibles of a like nature, all registrations and applications for any of the foregoing including, but not limited to (i) all
extensions or renewals of any of the foregoing, (ii) all of the goodwill of the business associated with the use of and symbolized
by the foregoing, (iii) the right to sue for past, present and future infringement or dilution of any of the foregoing or for any
injury to goodwill, and (iv) all Proceeds of the foregoing, including any royalties or income from the Trademark Licenses and any
and all payments, claims, damages and proceeds of suit.

 

“Trade Secret
Licenses” means any and all agreements providing for the granting of any right in or to Trade Secrets (whether the applicable
Grantor is licensee or licensor thereunder).

 

“Trade Secrets”
means all common law and statutory trade secrets and all other confidential or proprietary information and know-how constituting
trade secrets regardless of whether such Trade Secret has been reduced to a writing or other tangible form, including all documents
and things embodying, incorporating, or referring in any way to such Trade Secret, including but not limited to: (i) the right
to sue for past, present and future misappropriation or other violation of any Trade Secret and to enjoin or collect damages for
the actual or threatened misappropriation of any Trade Secret; and (ii) all Proceeds of the foregoing, including any royalties
or income from the Trade Secret Licenses and any and all payments, claims, damages and proceeds of suit.

 

“UCC”
means the Uniform Commercial Code as in effect from time to time in the State of New York (including any successor provisions under
any subsequent version or amendment to any Article of the UCC); provided, if, by reason of mandatory provisions of law,
any or all of the perfection or priority of, or remedies with respect to, any Collateral is governed by the Uniform Commercial
Code as enacted and in effect in a jurisdiction other than the State of New York, the term “UCC” means the Uniform
Commercial Code as enacted and in effect in such other jurisdiction solely for purposes of the provisions hereof relating to such
perfection, priority or remedies.

 

    	 	- 5 -	 

     

    

 

1.2.
UCC Definitions. In this Agreement, each of the following terms shall have the meaning assigned thereto in the UCC: “Account”;
“Account Debtor”; “As-Extracted Collateral”; “Bank”; “Certificated Security”;
“Chattel Paper”; “Commercial Tort Claims”; “Commodity Account”; “Commodity Contract”;
“Commodity Intermediary”; “Consignee”; “Consignment”; “Consignor”; “Deposit
Account”; “Document”; “Electronic Chattel Paper”; “Equipment”; “Farm Products”;
“General Intangibles”; “Goods”; “Health-Care-Insurance Receivable”; “Instrument”;
“Inventory”; “Investment Property”; “Letter-of-Credit Right”; “Manufactured Home”;
“Money”; “Proceeds”; “Record”; “Securities Account”; “Securities Intermediary”;
“Security Certificate”; “Security Entitlement”; “Supporting Obligations”; “Tangible
Chattel Paper”; and “Uncertificated Security”.

 

1.3.
Credit Agreement Definitions. All other capitalized terms used herein (including the preamble and recitals hereto) and not
otherwise defined herein shall have the meanings ascribed thereto in the Credit Agreement, and the incorporation by reference
of terms defined in the Credit Agreement shall survive any termination of the Credit Agreement until this Agreement is terminated
as provided in Section 8.

 

1.4.
Interpretation. The definitions of terms herein shall apply equally to the singular and plural forms of the terms defined.
Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words
“include,” “includes” and “including” shall be deemed to be followed by the phrase “without
limitation.” The word “will” shall be construed to have the same meaning and effect as the word “shall.”
Unless the context requires otherwise (a) any definition of or reference to any agreement, instrument or other document herein
shall be construed as referring to such agreement, instrument or other document as from time to time amended, restated, supplemented
or otherwise modified (subject to any restrictions on such amendments, supplements or modifications set forth herein), (b) any
reference herein to any Person shall be construed to include such Person’s successors and assigns, (c) the words “herein,”
“hereof” and “hereunder,” and words of similar import, shall be construed to refer to this Agreement in
its entirety and not to any particular provision hereof, (d) all references herein to Sections, Exhibits and Schedules shall be
construed to refer to Sections of, and Exhibits and Schedules to, this Agreement, (e) any reference to any Law herein shall, unless
otherwise specified, refer to such Law as amended, modified or supplemented from time to time, and (f) the words “asset”
and “property” shall be construed to have the same meaning and effect and to refer to any and all tangible and intangible
assets and properties, including cash, Securities, accounts and contract rights.

 

1.5.
Credit Agreement Governs. If any of the terms or conditions of this Agreement is in conflict with the Credit Agreement, then
the terms and conditions of the Credit Agreement shall govern.

 

		SECTION 2.	SECURITY FOR OBLIGATIONS.

 

2.1.
Grant of Security. As collateral security for the prompt and complete payment or performance in full when due, whether at
stated maturity, by required prepayment, declaration, acceleration, demand or otherwise, of the Secured Obligations, each Grantor
hereby grants to the Collateral Agent, for the benefit of the Secured Parties, a security interest in and continuing lien on all
of such Grantor’s right, title and interest in, to and under the Collateral.

 

    	 	- 6 -	 

     

    

 

2.2.
Continuing Security Interest. This Agreement (a) creates a continuing security interest in the Collateral and shall remain
in full force and effect until the payment in full of all Secured Obligations (other than any Remaining Obligations), and the
cancellation, expiration, posting of backstop letters of credit in respect of or Cash Collateralization of all outstanding Letters
of Credit in accordance with Section 2.4(h) of the Credit Agreement, (b) is binding upon each Grantor, its successors and
assigns, and (c) inures, together with the rights and remedies of the Collateral Agent hereunder, to the benefit of the Collateral
Agent and each of the other Secured Parties, and each of their respective successors and permitted assigns.

 

2.3.
Grantors Remain Liable. Notwithstanding anything herein to the contrary:

 

(a) each
Grantor shall remain liable for all obligations under the Collateral and nothing contained herein is intended or shall be a delegation
of duties to the Collateral Agent or any Secured Party;

 

(b) each
Grantor shall remain liable under each of the agreements included in the Collateral, including any agreements relating to Pledged
Partnership Interests or Pledged LLC Interests, to perform all of the obligations undertaken by it thereunder all in accordance
with and pursuant to the terms and provisions thereof and neither the Collateral Agent nor any Secured Party has any obligation
or liability under any of such agreements by reason of or arising out of this Agreement or any other Credit Document nor shall
the Collateral Agent nor any Secured Party have any obligation to make any inquiry as to the nature or sufficiency of any payment
received by it or have any obligation to take any action to collect or enforce any rights under any agreement included in the Collateral,
including any agreements relating to Pledged Partnership Interests or Pledged LLC Interests; and

 

(c) the
exercise by the Collateral Agent of any of its rights hereunder shall not release any Grantor from any of its duties or obligations
under any contract or agreement that is included in the Collateral.

 

		SECTION 3.	REPRESENTATIONS AND WARRANTIES.

 

To induce the Collateral
Agent, for the benefit of the Secured Parties, to enter into this Agreement, each Grantor represents and warrants to the Collateral
Agent, for the benefit of the Secured Parties, on the Closing Date and on each Credit Date, that (it being understood and agreed
that the representations and warranties made on the Closing Date are deemed to be made concurrently with the consummation of the
Related Transactions):

 

3.1.
Grantor Information, Etc.

 

(a) Grantor Information.
As of the Closing Date, Schedule 3.1 sets forth with respect to each Grantor (i) such Grantor’s full legal name,
type of organization, jurisdiction of organization, and organizational identification number, if any; (ii) such Grantor’s
trade names, fictitious business names or other names under which such Grantor currently conducts business; and (iii) each jurisdiction
where such Grantor’s chief executive office or its sole place of business (or the principal residence if such Grantor is
a natural person) is located.

 

(b) Name
Changes, Etc. As of the Closing Date, except as provided on Schedule 3.1, no Grantor has changed its name, jurisdiction
of organization or its corporate structure in any way (e.g., by merger, consolidation, change in corporate form or otherwise) and
has not done business under any other name, in each case, within the past five (5) years or (ii) has changed its chief executive
office or sole place of business (or principal residence if such Grantor is a natural person), in each case, within the past one
(1) year.

 

    	 	- 7 -	 

     

    

 

(c) Current
Locations. As of the Closing Date, Schedule 3.1 sets forth with respect to each Grantor (i) all locations where such
Grantor owns or leases any real property, (ii) except for (A) Vessels, (B) Inventory and Equipment that is in transit, out for
repair or servicing, that is leased by a customer and used by such customer at the customer’s location, or located at a customer
jobsite and (C) Collateral that has been purchased but not yet delivered to such Grantor, each in the ordinary course of the applicable
Grantor’s business, all locations where such Grantor keeps any Material Inventory or Material Equipment included in the Collateral
and (iii) all locations in which each Grantor maintains any material books or records relating to any of the Collateral.

 

(d) Other
Security Agreements. As of the Closing Date, except for security agreements constituting Permitted Liens or as otherwise disclosed
on Schedule 3.1, no Grantor has within the last five (5) years become bound (whether as a result of merger or otherwise)
as debtor under a security agreement entered into by another Person that either (x) has not heretofore been terminated or (y) as
to which such Grantor and its assets have not been released in accordance with the terms thereof.

 

(e) Transmitting
Utility. No Grantor is a “transmitting utility” (as defined in Section 9-102(a)(80) of the UCC).

 

3.2.
Collateral Identification, Etc.

 

(a) Collateral
Identification. As of the Closing Date, Schedule 3.2 sets forth the following (if any) for each Grantor (in each
case, other than any Excluded Asset): (i) Deposit Accounts; (ii) Pledged Equity Interests; (iii) Securities Accounts; (iv) Commodity
Contracts and Commodity Accounts; (v) United States registrations of and applications for Patents, Trademarks, and Copyrights owned
by such Grantor; (vi) Material Intellectual Property Licenses (other than commercial off-the-shelf licenses) used by such Grantor
in its business; (vii) Letter-of-Credit Rights in excess of $500,000; and (viii) the name and address of any warehouseman, bailee
or other third party in possession of any of such Grantor’s Material Inventory or Material Equipment (other than with respect
to (x) any Vessels, (y) any Inventory or Equipment that is in transit, out for repair or servicing, that is leased by a customer
and used by such customer at the customer’s location, or located at a customer jobsite and (z) Collateral that has been purchased
but not yet delivered to such Grantor); (ix) Material Instruments and Material Tangible Chattel Paper; and (x) Material Commercial
Tort Claims.

 

(b) Special
Collateral. As of the Closing Date, none of the Collateral consists of Special Collateral.

 

3.3.
Ownership of Collateral, Etc.

 

(a) Ownership.
Each Grantor owns the Collateral purported to be owned by it or otherwise has the rights it purports to have in each item of
Collateral, in each case free and clear of any and all Liens other than Permitted Liens.

 

(b) Financing
Statements, Etc. Other than any financing statement, any Intellectual Property Security Agreement and any Vessel Mortgage filed
in favor of the Collateral Agent, no Grantor has filed or authorized the filing of any effective financing statement, fixture filing
or other instrument similar in effect under any applicable law covering all or any part of the Collateral on file in any filing
or recording office except for (i) financing statements for which duly authorized proper termination statements have been delivered
to the Collateral Agent for filing, (ii) financing statements, fixture filings and other instruments similar in effect filed in
connection with Permitted Liens and (iii) any filings, notices or recordings with respect to which the underlying Indebtedness
(other than with respect to contingent indemnification obligations not then due and owing) has been paid off or otherwise satisfied.

 

    	 	- 8 -	 

     

    

 

(c) Control.
Other than the Collateral Agent and any automatic Control in favor of a Bank, Securities Intermediary or Commodity
Intermediary maintaining a Deposit Account, Securities Account or Commodity Contract, or in relation to a Permitted Lien (in
each case, other than any Excluded Asset), as applicable, no Person is in Control of any Collateral the perfection of a
security interest in which is effectuated by Control.

 

3.4.
Status of Security Interest.

 

(a) First
Priority Lien. Upon the timely completion of the filings and other actions set forth in Section 4.1, the security interest
of the Collateral Agent in the Collateral shall constitute a valid, perfected, First Priority security interest in and continuing
lien on all of each Grantor’s right, title and interest in, to and under the Collateral, subject only to Permitted Liens,
any applicable Intercreditor Agreement or permitted non-perfection (including, without limitation pursuant to the proviso in this
Section 3.4(a)), and to the extent perfection may be achieved by the filings and other actions required, pursuant to Section 4.1;
provided that, notwithstanding anything to the contrary herein or in any other Credit Document, no Grantor shall have any
obligation to (i) create or perfect any security interest in any Intellectual Property included in the Collateral in any jurisdiction
other than the United States or in any Intellectual Property License or Trade Secret, (ii) make any filings, enter into any documents
or agreements or take any other actions to grant, record or perfect a Lien on Collateral located or titled outside of the United
States (or, for the avoidance of doubt, enter into any agreement governed by the law of a jurisdiction other than the United States
(or a state or commonwealth thereof)), (iii) take any actions to perfect any security interest in Letter-of-Credit Rights included
in the Collateral, except to the extent such Letter-of-Credit Rights constitute Supporting Obligations for any other Collateral
as to which perfection is accomplished solely by the filing of a UCC-1 financing statement, in which case the only perfection action
required to be taken with respect to such Letter-of-Credit Rights shall be the filing of a UCC-1 financing statement in the applicable
jurisdiction, (iv) take any action to perfect any security interest in any Commercial Tort Claim with a value of less than $500,000
individually or $1,000,000 for all such Commercial Tort Claims or (v) enter into any control agreements with respect to any Deposit
Account, Securities Account or Commodity Account and, for the avoidance of doubt, all covenants and other representations and warranties
in all Credit Documents shall be subject to this proviso.

 

(b) No
Authorization, Consent, Approval, Etc. No authorization, consent, approval or other action by, and no notice to or filing with,
any Governmental Authority or any other Person is required for (i) the pledge or grant by any Grantor of the Liens purported to
be created in favor of the Collateral Agent hereunder or (ii) the exercise by the Collateral Agent of any rights or remedies in
respect of any Collateral (whether specifically granted or created hereunder or created or provided for by applicable law), except
(A) the filings contemplated by Section 3.4(a) above, (B) as may be required, in connection with the disposition of any Investment
Related Property, by Laws generally affecting the offering and sale of Securities and (C) with respect to the foregoing clause
(i), any such authorizations, consents, approvals or other actions, notices or filings that have been made or obtained prior to
the date hereof.

 

3.5.
Receivables. As of the end of the most recent Test Period, none of the Account Debtors in respect of any Receivable owing
to any Grantor with an aggregate amount payable in excess of $5,000,000 individually is the government of the United States, any
agency or instrumentality thereof, any state or municipality or any foreign sovereign, except for any such Receivables with respect
to which the applicable (or another) Grantor has given the Collateral Agent written notice of the creation thereof by the time
of the first delivery of financial statements required by Sections 5.1(a) or (b), as applicable, of the Credit Agreement after
the creation of such Receivable or Receivables, or such later date as is acceptable to the Collateral Agent. No Receivable of
any Grantor as of the date hereof requires the consent of the Account Debtor in respect thereof in connection with the security
interest hereunder, except any consent which has been obtained on or prior to the date hereof or where the failure to obtain such
consent would not reasonably be expected to have a Material Adverse Effect.

 

    	 	- 9 -	 

     

    

 

3.6.
Pledged Equity Interests.

 

(a) Record
and Beneficial Owner. As of the Closing Date, the applicable Grantor is the record and beneficial owner of the Pledged Equity
Interests listed as owned by it on Schedule 3.1 free of all Liens (other than statutory non-consensual Liens and other rights
and claims of the Collateral Agent under this Agreement), rights or claims of other Persons.

 

(b) Consents.
No consent of any Person, including any other general or limited partner, any other member of a limited liability company, any
other shareholder or any other trust beneficiary is necessary in connection with the creation, perfection or first priority status
of the security interest of the Collateral Agent in any Pledged Equity Interests or the exercise by the Collateral Agent of the
voting or other rights provided for in this Agreement or the exercise of remedies in respect thereof in each case, except such
as have been obtained.

 

(c) Status
as “Securities”. None of the Pledged LLC Interests or Pledged Partnership Interests that, in either case, are Pledged
Equity Interests, represent interests (i) that by their terms provide that they are securities governed by the uniform commercial
code of an applicable jurisdiction, other than those with respect to which the Grantors have taken or will take, within the time
frames required by Section 4.1(a), such actions to grant to the Collateral Agent Control of such securities pursuant to (1) Section
4.1(c) if such Pledged LLC Interests or Pledged Partnership Interests are represented by certificates or (2) Section 4.1(d) if
such Pledged LLC Interests or Pledged Partnership Interests are not represented by certificates, (ii) that are dealt in or traded
on securities exchanges or markets or (iii) in an issuer that is a “registered investment company” as such term is
defined in the Investment Company Act of 1940, as amended.

 

3.7.
Intellectual Property.

 

(a) Ownership.
As of the Closing Date, and except as listed on Schedule 3.2, to the applicable Grantor’s knowledge, such Grantor
(i) is the sole and exclusive owner of the entire right, title, and interest in and to all Intellectual Property listed on Schedule
3.2, or otherwise is licensed or permitted to use such Intellectual Property as used in or necessary to conduct its business
as currently conducted, and (ii) owns or has the valid right to use and, where such Grantor does so, sublicense others to use,
all other Material Intellectual Property used by it in its business, free and clear of all Liens, claims and encumbrances, except
for Permitted Liens or as could not reasonably be expected to result in a Material Adverse Effect. Schedule 3.2 accurately
lists, in all material respects, all Material Intellectual Property registered with (or for which application for registration
has been made to) the United States Copyright Office or United States Patent and Trademark Office owned by each Grantor as of the
Closing Date, and accurately reflects, in all material respects the existence and status of all such Intellectual Property as of
such date.

 

(b) Subsisting,
Etc. To each applicable Grantor’s knowledge, as of the Closing Date, all the Material Intellectual Property owned by
each Grantor as of the Closing Date is subsisting and has not been adjudged invalid or unenforceable, in whole or in part, in any
material respect nor, in the case of Material Patents owned by each Grantor as of the Closing Date, is the subject of a reexamination
proceeding, and such Grantor has maintained all registered Material Intellectual Property owned by each Grantor as of the Closing
Date in the ordinary course consistent with reasonable business practices. To such Grantor’s knowledge, as of the Closing
Date, no action or proceeding challenging the validity or scope of any of the Material Intellectual Property owned by each Grantor
as of the Closing Date is pending or threatened in writing.

 

    	 	- 10 -	 

     

    

 

(c) Registrations
and Applications. With respect to any Intellectual Property owned by a Grantor and listed on Schedule 3.2, as of the
Closing Date, all registrations and applications for the Material Copyrights, Patents and Trademarks owned by each applicable Grantor
have each been duly filed in the United States Copyright Office or United States Patent and Trademark Office, respectively, and
are standing in the name of the applicable Grantor.

 

(d) Infringement,
Etc. To each Grantor’s knowledge, as of the Closing Date, no conduct of such Grantor’s business infringes upon
or misappropriates or otherwise violates any Trademark, Patent, Copyright, Trade Secret or other Intellectual Property proprietary
right of any other Person where such could reasonably be expected to have a Material Adverse Effect. As of the Closing Date, no
claim has been made in the last three (3) years alleging that the conduct of the Grantor’s business and/or the use or license
of any Material Intellectual Property owned or, to each Grantor’s knowledge, used by such Grantor (or any of its respective
licensees) infringes upon, misappropriates or otherwise violates the asserted rights of any other Person where such could reasonably
be expected to have a Material Adverse Effect.

 

(e) Third
Party Infringement. To each Grantor’s knowledge, as of the Closing Date, and except as could not reasonably be expected
to have a Material Adverse Effect, no other Person is infringing upon, misappropriating or otherwise violating any rights in any
Material Intellectual Property owned by or exclusively licensed to such Grantor.

 

3.8.       Title
to Vessels. On the Closing Date, the Credit Parties shall have valid and marketable title to
each Material Vessel set forth on Schedule 4.27 to the Credit Agreement, subject to no Liens other than Permitted Liens. On the
Closing Date, there are no bareboat or demise charters in effect with respect to any Vessel other than as set forth on Schedule 4.27
to the Credit Agreement.

 

		SECTION 4.	COVENANTS AND AGREEMENTS.

 

Each Grantor covenants
and agrees that so long as any Commitment is in effect and until payment in full of all Secured Obligations (other than any Remaining
Obligations) and the cancellation, expiration, posting of backstop letters of credit or Cash Collateralization of all outstanding
Letters of Credit, each Grantor shall perform all covenants and agreements in this Section 4.

 

4.1.
Perfection and Certain Other Actions.

 

(a) Timing
Generally. Each Grantor shall comply with the requirements of this Section 4.1, (i) with respect to any Collateral in existence
on the Closing Date, on the Closing Date or such later date as permitted pursuant to Section 3.1(g) of the Credit Agreement, and
(ii) with respect to any Collateral in which a Grantor acquires rights after the Closing Date, within (A) 30 days of the date of
the acquisition thereof (or such later date as the Collateral Agent may agree to in its sole discretion) for the actions required
pursuant to Sections 4.1(c), (d), (e), (g), (h), (i), (j), (k) and (l) of this Agreement and (B) 90 days of the date of acquisition
thereof (or such later date as the Collateral Agent may agree to in its sole discretion) for the actions required pursuant to Section
4.1(m) of this Agreement.

 

(b) UCC
Financing Statements. Each Grantor hereby authorizes the Collateral Agent to file a financing statement naming such Grantor
as “debtor” and the Collateral Agent as “secured party” and describing the Collateral in the filing offices
set forth opposite such Grantor’s name on Schedule 3.1 (as such schedule may be amended or supplemented from time
to time), which financing statements may describe the Collateral in the same manner as described herein or may contain an indication
or description of collateral that describes such property in any other manner as the Collateral Agent may determine, in its sole
discretion, is necessary, advisable or prudent to ensure the perfection of the security interest in the Collateral granted to the
Collateral Agent herein, including describing such property as “all assets” or “all personal property, whether
now owned or hereafter acquired.”

 

    	 	- 11 -	 

     

    

 

(c) Certificated
Securities, Etc. Each Grantor shall deliver to the Collateral Agent the Security Certificates evidencing any Certificated Securities
included in the Collateral duly indorsed by an effective endorsement (within the meaning of Section 8-107 of the UCC), or accompanied
by share transfer powers or other instruments of transfer duly endorsed by such an effective endorsement, in each case, to the
Collateral Agent or in blank. Each Grantor shall also cause any certificates evidencing any Pledged Equity Interests, including
any Pledged Partnership Interests or Pledged LLC Interests that in either case are Pledged Equity Interests, to be similarly delivered
to the Collateral Agent, regardless of whether such Pledged Equity Interests constitute Certificated Securities.

 

(d) Uncertificated
Securities. Each applicable Grantor shall ensure that the Collateral Agent has Control with respect to any Uncertificated Security
included in the Collateral (other than any Uncertificated Securities credited to a Securities Account) included in the Collateral
by causing the issuer of such Uncertificated Security, to the extent permitted by applicable law, to either (i) register the Collateral
Agent as the registered owner thereof on the books and records of the issuer or (ii) execute an agreement in form and substance
reasonably satisfactory to the Collateral Agent, pursuant to which such issuer agrees to comply with the Collateral Agent’s
instructions with respect to such Uncertificated Security without further consent by such Grantor.

 

(e) Instruments
and Tangible Chattel Paper. Each applicable Grantor shall deliver to the Collateral Agent all Material Instruments and Material
Tangible Chattel Paper included in the Collateral to the Collateral Agent duly indorsed in blank.

 

(f) Reserved.

 

(g) Electronic
Chattel Paper, Etc. With respect to all Material Electronic Chattel Paper or “transferable record” (as that term
is defined in Section 201 of the Federal Electronic Signatures in Global and National Commerce Act or in Section 16 of the Uniform
Electronic Transactions Act as in effect in any relevant jurisdiction) included in the Collateral, each applicable Grantor shall
ensure that the Collateral Agent has Control thereof in a manner reasonably acceptable to the Collateral Agent.

 

(h) Patents.
Each applicable Grantor shall execute and deliver to the Collateral Agent an Intellectual Property Security Agreement in substantially
the form of Exhibit B hereto (or a supplement thereto) or otherwise reasonably satisfactory to the Collateral Agent covering all
Collateral consisting of all registered or applied for Patents for which such Grantor is the owner in appropriate form for recordation
with the United States Patent and Trademark Office with respect to the security interest of the Collateral Agent.

 

(i) Trademarks.
Each applicable Grantor shall execute and deliver to the Collateral Agent an Intellectual Property Security Agreement in substantially
the form of Exhibit B hereto (or a supplement thereto) or otherwise reasonably satisfactory to the Collateral Agent covering all
Collateral consisting of all registered or applied for Trademarks for which such Grantor is the owner in appropriate form for recordation
with the United States Patent and Trademark Office with respect to the security interest of the Collateral Agent.

 

    	 	- 12 -	 

     

    

 

(j) Copyrights
and Copyright Licenses. Each applicable Grantor shall execute and deliver to the Collateral Agent an Intellectual Property
Security Agreement in substantially the form of Exhibit B hereto (or a supplement thereto) or otherwise reasonably satisfactory
to the Collateral Agent covering all Collateral consisting of all registered or applied for Copyrights and exclusive Copyright
Licenses for which such Grantor is the owner or licensee in appropriate form for recordation with the United States Copyright Office
with respect to the security interest of the Collateral Agent.

 

(k) Consents
of Other Grantors Regarding Investment Related Property. Each Grantor consents to the grant by each other Grantor of a Lien
in all Investment Related Property to the Collateral Agent and, without limiting the generality of the foregoing, consents, in
each case subject to the occurrence and continuance of an Event of Default, to the transfer of any Pledged Partnership Interest
and any Pledged LLC Interest that, in either case, are Pledged Equity Interests, to the Collateral Agent or its designee and to
any accompanying substitution of the Collateral Agent or its designee as a partner in any partnership or as a member in any limited
liability company with all the rights and powers related thereto.

 

(l) Consents
of Third Parties Regarding Pledged Equity Interests. With respect to any Pledged Partnership Interests and Pledged LLC Interests
included in the Collateral, if any Grantor owns less than 100% of the equity interests in any issuer of such Pledged Partnership
Interests or Pledged LLC Interests, such Grantor shall use its commercially reasonable efforts to obtain the consent of each other
holder of partnership interests or limited liability company interests in such issuer to (i) the security interest of the Collateral
Agent hereunder in that portion of the equity interests of such issuer owned by such Grantor (or, if less, that portion that constitutes
Pledged Equity Interests) and (ii) during the occurrence and continuance of an Event of Default, the transfer of such Pledged Partnership
Interests and Pledged LLC Interests (to the extent of the equity interests in such issuer owned by such Grantor or, if less, that
portion that constitutes Pledged Equity Interests) to the Collateral Agent of its designee, and to the substitution of the Collateral
Agent or its designee as a partner or member with all the rights and powers related thereto.

 

(m) Material
Vessels. With respect to any Material Vessels, the applicable Grantor shall deliver to the Collateral Agent Vessel Mortgages
and related documentation in accordance with Section 5.16 of the Credit Agreement.

 

(n) Landlord
Waiver and Consent Agreements. Upon the request of the Collateral Agent, the Grantors shall use commercially reasonable efforts
to deliver to the Collateral Agent a fully executed Landlord Waiver and Consent Agreement, in form and substance reasonably satisfactory
to the Collateral Agent, with respect to any real property leased by any Grantor in which there is Collateral (other than Collateral
stored or maintained in a building or other facility or structure owned by a Grantor that is located on such leased real property)
having a Fair Market Value in excess of $1,500,000 at any such location at any time; provided, that, for the avoidance of
doubt, no Grantor shall be obligated to agree to any material increase in payments associated with such lease arrangement, or any
other adverse change to the terms thereof, to obtain any such Landlord Waiver and Consent Agreement.

 

    	 	- 13 -	 

     

    

 

4.2.
Grantor Information and Status.

 

(a) Maintenance
of Information and Status. Without limiting any prohibitions or restrictions on mergers or other transactions set forth in
the Credit Agreement, in connection with a change in any Grantor’s name, corporate structure (e.g. by merger, consolidation,
change in corporate form or otherwise), type of organization or jurisdiction of organization, such Grantor shall (i) notify the
Collateral Agent in writing promptly, and in any case (A) at least 10 days (or such subsequent date as the Collateral Agent may
agree to in its sole discretion) prior to any such change, identifying such new proposed name, corporate structure, type of organization
or jurisdiction of organization and (ii) if the Collateral Agent so requests, prepare and deliver to the Collateral Agent such
filings or instruments as are necessary or reasonably advisable to maintain the continuous validity, perfection and the same or
better priority of the Collateral Agent’s security interest in the Collateral granted or intended to be granted and agreed
to hereby, which in the case of any merger or other change in corporate structure shall include, without limitation, executing
and delivering to the Collateral Agent a completed Pledge Supplement upon completion of such merger or other change in corporate
structure confirming the grant of the security interest hereunder.

 

(b) Maintenance
of Security Interest. Each Grantor shall maintain the security interest of the Collateral Agent hereunder in all Collateral
as valid, perfected, first priority Liens, subject only to Permitted Liens, any applicable Intercreditor Agreement and permitted
non-perfection.

 

4.3.
Inventory and Equipment.

 

(a) Documents.
No Grantor shall deliver any Document evidencing any Material Inventory or Material Equipment to any Person other than (i) the
issuer of such Document to claim the Goods evidenced therefor, (ii) the Collateral Agent or (iii) in connection with a disposition
of such Material Inventory or Material Equipment permitted by the Credit Agreement.

 

(b) Warehouseman,
Bailee, Etc. If any Material Equipment or Material Inventory is in possession or control of any warehouseman, bailee or other
third party (other than (i) a Consignee under a Consignment for which a Grantor is the Consignor, (ii) with respect to any Inventory
or Equipment that is in transit, out for repair or servicing, that is leased by a customer and used by such customer at the customer’s
location, or located at a customer jobsite, (iii) Collateral that has been purchased but not yet delivered to such Grantor) or
(iv) any Vessel, each Grantor shall join with the Collateral Agent in notifying the third party of the Collateral Agent’s
security interest and, upon the Collateral Agent’s reasonable request, will use commercially reasonable efforts to obtain
an acknowledgment from the third party that (i) it is holding such Inventory and Equipment for the benefit of the Collateral Agent
and (ii) will permit the Collateral Agent to have access to such Equipment or Inventory for purposes of inspecting such Collateral
or, following the occurrence and continuance of an Event of Default, to remove such Inventory or Equipment from such premises if
the Collateral Agent so elects; and with respect to any Material Goods subject to a Consignment for which such Grantor is the Consignor,
upon the Collateral Agent’s request such Grantor shall file appropriate financing statements against the Consignee and take
such other action as may be necessary to ensure that such Grantor has a first priority perfected security interest in such Goods;
provided, that, for the avoidance of doubt, no Grantor shall be obligated to agree to any material increase in payments
associated with such warehouseman or bailee arrangement, or any other adverse change to the terms thereof, in order to obtain such
acknowledgment.

 

4.4.
Receivables.

 

(a) Records.
Each Grantor shall keep and maintain at its own cost and expense complete records of the Receivables, in a manner consistent with
prudent business practice as determined in the reasonable business judgment of such Grantor, and records of all payments received
and all credits granted on the Receivables, all merchandise returned and all other dealings therewith.

 

(b) Modifications,
Etc. (i) Other than in a manner consistent with prudent business practice as determined in the reasonable business judgment
of such Grantor, no Grantor shall amend, modify, terminate or waive any provision of any Material Receivable in any manner which
could reasonably be expected to have an adverse effect on the value or collectability of such Receivable; and (ii) following and
during the continuation of an Event of Default, no Grantor shall (A) grant any extension or renewal of the time of payment of any
Receivable, (B) compromise or settle any dispute, claim or legal proceeding with respect to any Receivable for less than the total
unpaid balance thereof, (C) release, wholly or partially, any Person liable for the payment thereof, or (D) allow any credit or
discount thereon.

 

    	 	- 14 -	 

     

    

 

(c) Notifications
to Account Debtors. In each case solely following the occurrence and during the continuation of an Event of Default, the Collateral
Agent has the right to notify, or require any Grantor to notify, any Account Debtor of the Collateral Agent’s security interest
in the Receivables and any Supporting Obligation and the Collateral Agent may (i) direct the Account Debtors under any Receivables
to make payment of all amounts due or to become due to such Grantor thereunder directly to the Collateral Agent; (ii) notify, or
require any Grantor to notify, each Person maintaining a lockbox or similar arrangement to which Account Debtors under any Receivables
have been directed to make payment to remit all amounts representing collections on checks and other payment items from time to
time sent to or deposited in such lockbox or other arrangement directly to the Collateral Agent; and (iii) enforce, at the expense
of such Grantor, collection of any such Receivables and to adjust, settle or compromise the amount or payment thereof, in the same
manner and to the same extent as such Grantor might have done. If the Collateral Agent notifies any Grantor that it has elected
to collect the Receivables in accordance with the preceding sentence, any payments of Receivables received by such Grantor during
the occurrence and continuation of an Event of Default shall be forthwith (and in any event within two Business Days) deposited
by such Grantor in the exact form received, duly indorsed by such Grantor to the Collateral Agent if required, in the Collateral
Account maintained under the sole dominion and control of the Collateral Agent, and until so turned over, all amounts and proceeds
(including checks and other instruments) received by such Grantor in respect of the Receivables, any Supporting Obligation or Collateral
Support shall be received in trust for the benefit of the Collateral Agent hereunder and shall be segregated from other funds of
such Grantor and such Grantor shall not adjust, settle or compromise the amount or payment of any Receivable, or release wholly
or partly any Account Debtor or obligor thereof, or allow any credit or discount thereon.

 

4.5.
Investment Related Property.

 

(a) Dividends,
Interest and Distributions. If any Grantor receives any dividends, interests, distributions or other property on or from any
Pledged Equity Interest or other Investment Related Property, then to the extent any such dividends, interests, distributions or
other property constitute certificated securities, they shall be held in trust for the benefit of the Collateral Agent, be segregated
from the other property or funds of such Grantor and be promptly delivered to the Collateral Agent in the same form as so received
(with any necessary endorsement). Notwithstanding anything contained herein, so long as no Event of Default has occurred and is
then continuing, such Grantor shall be entitled to retain all dividends, distributions, interests, distributions and other property,
and all scheduled payments of interest on intercompany loans, paid, distributed, received or receivable by such Grantor on or in
respect of any Investment Related Property.

 

(b) Voting
– Prior to Event of Default. So long as no Event of Default has occurred and is then continuing, each Grantor shall be
entitled to exercise or refrain from exercising any and all voting and other consensual rights pertaining to the Investment Related
Property or any part thereof for any purpose not inconsistent with the terms of this Agreement or the Credit Agreement.

 

    	 	- 15 -	 

     

    

 

(c) Voting
– During Event of Default. Upon the occurrence and during the continuation of an Event of Default described in Sections
8.1(f) or (g) of the Credit Agreement, or upon written notice to Parent in the case of the occurrence and continuance of any other
Event of Default, (i) all rights of each Grantor to exercise or refrain from exercising the voting and other consensual rights
which it would otherwise be entitled to exercise pursuant hereto shall cease and all such rights shall thereupon become vested
in the Collateral Agent who shall thereupon have the sole right to exercise such voting and other consensual rights; and (ii) in
order to permit the Collateral Agent to exercise the voting and other consensual rights which it may be entitled to exercise pursuant
hereto and to receive all dividends and other distributions which it may be entitled to receive hereunder: (A) each Grantor shall
promptly execute and deliver (or cause to be executed and delivered) to the Collateral Agent all proxies, dividend payment orders
and other instruments as the Collateral Agent may from time to time reasonably request to permit the Collateral Agent to exercise
the voting and other rights which it may be entitled to exercise pursuant to this Agreement, (B) each Grantor acknowledges that
the Collateral Agent may utilize the power of attorney set forth in Section 6.1 and (C) no Grantor shall close its stock transfer
book at any time in such manner as to delay or prevent the Collateral Agent from promptly exercising its voting or other consensual
rights hereunder.

 

4.6.
Intellectual Property.

 

(a) Abandonment,
Etc. No Grantor shall do any act or omit to do any act whereby any Material Intellectual Property may lapse, or become abandoned,
dedicated to the public, or unenforceable, or which would adversely affect the validity, grant, or enforceability of the security
interest granted therein; provided, for the avoidance of doubt, a Grantor may abandon or otherwise dispose of Intellectual
Property, which, (A) is not Material Intellectual Property, or (B) in the reasonable judgment of the Borrower, is no longer economically
practicable to maintain or necessary in the conduct of the business of the Borrower and its Subsidiaries, taken as a whole.

 

(b) New
Works and Licenses. If any Grantor shall create or acquire any ownership interest in or exclusively license any Material Intellectual
Property registered with (or for which application for registration has been made to) the United States Copyright Office or United
States Patent and Trademark Office, then, upon delivery of the annual financial statements required by Section 5.1(b) of the Credit
Agreement, such Grantor shall provide notice to Collateral Agent of such Intellectual Property. Each Grantor agrees that should
it obtain an ownership interest in or an exclusive license to any Intellectual Property which is not part of the Collateral as
of the Closing Date, the provisions of this Agreement shall apply thereto and any such Intellectual Property shall immediately
become part of the Collateral.

 

(c) Notice
to Collateral Agent. Each Grantor shall promptly notify the Collateral Agent in writing and in reasonable detail if it knows
or has reason to know that any Material Intellectual Property that is Collateral has or may become (i) abandoned or dedicated to
the public or placed in the public domain, (ii) invalid or unenforceable, (iii) subject to any adverse determination or development
(including the institution of proceedings) in any action or proceeding in the United States Patent and Trademark Office, the United
States Copyright Office, any state registry, any foreign counterpart of the foregoing, or any court or other administrative body
or (iv) be the subject of any reversion or termination rights, and the effect of any of the foregoing, either individually or in
the aggregate, could reasonably be expected to have a Material Adverse Effect.

 

4.7.
Commercial Tort Claims. Promptly upon acquiring any Material Commercial Tort Claim, the applicable Grantor shall promptly
(but in any event within 30 days after such acquisition or such later date as is acceptable to the Collateral Agent) deliver to
the Collateral Agent a completed Pledge Supplement identifying such Material Commercial Tort Claim.

 

4.8.
Special Collateral. Upon acquiring any Material Special Collateral, the applicable Grantor shall (a) promptly notify the Collateral
Agent in writing thereof and (b) take all such actions and execute all such documents and make all such filings, in each case,
at such Grantor’s expense as the Collateral Agent shall have reasonably requested in order to ensure that the Collateral
Agent has a valid, perfected, First Priority Lien in such Material Special Collateral, subject to any Permitted Liens and permitted
non-perfection.

 

    	 	- 16 -	 

     

    

 

4.9.
Further Assurances. Each Grantor agrees that from time to time, at the expense of such Grantor, it shall promptly execute
and deliver all further instruments and documents, and take all further action, that may be necessary or reasonably desirable,
or that the Collateral Agent may reasonably request, to create and/or maintain the validity, perfection or priority of and protect
any security interest granted or purported to be granted hereby or to enable the Collateral Agent to exercise and enforce its
rights and remedies hereunder with respect to any Collateral.

 

4.10.
Relation to Certain other Security Documents. If there is any conflict between any one or more provisions in this Agreement
and one or more provisions in any Vessel Mortgage or Assignment of Insurances, such provisions of the Vessel Mortgage or Assignment
of Insurances shall control.

 

		SECTION 5.	ADDITIONAL GRANTORS.

 

Pursuant to Section 5.11
of the Credit Agreement, certain other Restricted Subsidiaries of Parent may from time to time become parties hereto as additional
Grantors by executing a Counterpart Agreement. Upon delivery of any such Counterpart Agreement to the Collateral Agent, notice
of which is hereby waived by Grantors, each such Restricted Subsidiary shall be a Grantor and shall be as fully a party hereto
as if such Restricted Subsidiary were an original signatory hereto. Each Grantor expressly agrees that its obligations arising
hereunder shall not be affected or diminished by the addition of any other Grantor hereunder, nor by any election of the Collateral
Agent not to cause any Restricted Subsidiary of Parent to become a Grantor hereunder. This Agreement shall be fully effective as
to any Grantor that is or becomes a party hereto regardless of whether any other Person becomes or fails to become or ceases to
be a Grantor hereunder.

 

		SECTION 6.	COLLATERAL AGENT APPOINTED ATTORNEY-IN-FACT.

 

6.1.
Power of Attorney. Solely upon the occurrence and during the continuance of an Event of Default, each Grantor hereby irrevocably
appoints the Collateral Agent (such appointment being coupled with an interest) as such Grantor’s attorney-in-fact, with
full authority in the place and stead of such Grantor and in the name of such Grantor, the Collateral Agent or otherwise, from
time to time in the Collateral Agent’s discretion to take any action and to execute any instrument that the Collateral Agent
may deem reasonably necessary or advisable to accomplish the purposes of this Agreement, including the following (in each case,
solely upon the occurrence and during the continuance of an Event of Default):

 

(a) to
create, prepare, complete, execute, deliver, endorse, or file in the name of and on behalf of each Grantor any and all instruments,
documents, applications, financing statements, and any other agreements or writings required to be obtained, executed, delivered,
endorsed or entered into by each Grantor to enforce, maintain or use any Intellectual Property, to grant or issue any license to
any Intellectual Property to any Person, or to sell, assign, transfer, encumber, pledge, or otherwise transfer title or create
a security interest in or dispose of any Intellectual Property;

 

(b) to
take or cause to be taken all actions necessary to perform or comply or cause performance or compliance with the terms of this
Agreement, including access to pay or discharge taxes (other than taxes being contested in good faith by appropriate proceedings
promptly instituted and diligently conducted in accordance with Section 4.11 of the Credit Agreement) or Liens (other than Permitted
Liens) levied or placed upon or threatened against the Collateral, the legality or validity thereof and the amounts necessary to
discharge the same to be determined by the Collateral Agent in its sole discretion, any such payments made by the Collateral Agent
to become obligations of such Grantor to the Collateral Agent, due and payable immediately without demand; and

 

    	 	- 17 -	 

     

    

 

(c) (i)
to obtain and adjust insurance required to be maintained by such Grantor or paid to the Collateral Agent pursuant to the Credit
Agreement; (ii) to ask for, demand, collect, sue for, recover, compound, receive and give acquittance and receipts for moneys due
and to become due under or in respect of any of the Collateral, and to receive, endorse and collect any drafts or other instruments,
documents and chattel paper in connection therewith; (iii) to file any claims or take any action or institute any proceedings that
the Collateral Agent may deem necessary or desirable for the collection of any of the Collateral or otherwise to enforce the rights
of the Collateral Agent with respect to any of the Collateral; and (iv) generally to sell, transfer, lease, license, pledge, make
any agreement with respect to or otherwise deal with any of the Collateral as fully and completely as though the Collateral Agent
were the absolute owner thereof for all purposes, and to do, at the Collateral Agent’s option and such Grantor’s expense,
at any time or from time to time, all acts and things that the Collateral Agent deems reasonably necessary to protect, preserve
or realize upon the Collateral and the Collateral Agent’s security interest therein in order to effect the intent of this
Agreement, all as fully and effectively as such Grantor might do.

 

6.2.
No Duty. The powers conferred on the Collateral Agent pursuant to Section 6.1 are solely to protect the interests of the Secured
Parties in the Collateral and shall not impose any duty upon the Collateral Agent or any Secured Party to exercise any such powers.
The Collateral Agent and the Secured Parties shall be accountable only for amounts that they actually receive as a result of the
exercise of such powers, and neither they nor any of their officers, directors, employees or agents shall be responsible to any
Grantor for any act or failure to act hereunder, except for their own bad faith, gross negligence or willful misconduct as determined
by a court of competent jurisdiction in a final and non-appealable decision.

 

		SECTION 7.	REMEDIES.

 

7.1.
Rights and Remedies.

 

(a) Generally.
If any Event of Default has occurred and is then continuing, the Collateral Agent may exercise in respect of the Collateral, in
addition to all other rights and remedies provided for herein or otherwise available to it at law or in equity, all the rights
and remedies of the Collateral Agent on default under the UCC (regardless of whether the UCC applies to the affected Collateral)
to collect, enforce or satisfy any Secured Obligations then owing, whether by acceleration or otherwise, and also may pursue any
of the following separately, successively or simultaneously: (i) require any Grantor to, and each Grantor hereby agrees that it
shall at its expense and promptly upon request of the Collateral Agent forthwith, assemble all or part of the Collateral as directed
by the Collateral Agent and make it available to the Collateral Agent at a place to be designated by the Collateral Agent that
is reasonably convenient to both parties; (ii) to the extent permitted by applicable law, enter onto the property where any Collateral
is located and take possession thereof with or without judicial process; (iii) prior to the disposition of the Collateral, store,
process, repair or recondition the Collateral or otherwise prepare the Collateral for disposition in any manner to the extent the
Collateral Agent deems appropriate; and (iv) without notice except as specified below or under the UCC or applicable law, sell,
assign, lease, license (on an exclusive or nonexclusive basis) or otherwise dispose of the Collateral or any part thereof in one
or more parcels at public or private sale, at any of the Collateral Agent’s offices or elsewhere, for cash, on credit or
for future delivery, at such time or times and at such price or prices and upon such other terms as the Collateral Agent may deem
commercially reasonable.

 

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(b) Public
and Private Sales. The Collateral Agent or any Secured Party may be the purchaser of any or all of the Collateral at any public
or private (to the extent to the portion of the Collateral being privately sold is of a kind that is customarily sold on a recognized
market or the subject of widely distributed standard price quotations) sale in accordance with the UCC and the Collateral Agent,
as collateral agent for and representative of the Secured Parties, shall be entitled, for the purpose of bidding and making settlement
or payment of the purchase price for all or any portion of the Collateral sold at any such sale made in accordance with the UCC,
to use and apply any of the Secured Obligations as a credit on account of the purchase price for any Collateral payable by the
Collateral Agent at such sale. Each purchaser at any such sale shall hold the property sold absolutely free from any claim or right
on the part of any Grantor, and each Grantor hereby waives (to the extent permitted by applicable law) all rights of redemption,
stay and/or appraisal which it now has or may at any time in the future have under any rule of law or statute now existing or hereafter
enacted. Each Grantor agrees that, to the extent notice of sale shall be required by law, at least 10 days’ notice to such
Grantor of the time and place of any public sale or the time after which any private sale is to be made shall constitute reasonable
notification. The Collateral Agent shall not be obligated to make any sale of Collateral regardless of notice of sale having been
given. The Collateral Agent may adjourn any public or private sale from time to time by announcement at the time and place fixed
therefor, and such sale may, without further notice, be made at the time and place to which it was so adjourned. Each Grantor agrees
that it would not be commercially unreasonable for the Collateral Agent to dispose of the Collateral or any portion thereof by
using Internet sites that provide for the auction of assets of the types included in the Collateral or that have the reasonable
capability of doing so, or that match buyers and sellers of assets. Each Grantor hereby waives any claims against the Collateral
Agent arising by reason of the fact that the price at which any Collateral may have been sold at such a private sale was less than
the price which might have been obtained at a public sale, even if the Collateral Agent accepts the first offer received and does
not offer such Collateral to more than one offeree. If Collateral Agent sells any of the Collateral upon credit, Grantor will be
credited only with payments actually made by purchaser and received by Collateral Agent and applied to indebtedness of the purchaser.
If the purchaser fails to pay for the Collateral, Collateral Agent may resell the Collateral and Grantor shall be credited with
proceeds of the sale. The Collateral Agent may sell the Collateral without giving any warranties as to the Collateral. The Collateral
Agent may specifically disclaim or modify any warranties of title or the like, and such disclaimer shall not be considered to adversely
affect the commercial reasonableness of any sale of the Collateral. If the proceeds of any sale or other disposition of the Collateral
are insufficient to pay all the Secured Obligations, Grantors shall be liable for the deficiency and the reasonable and documented
out of pocket fees of any attorneys employed by the Collateral Agent to collect such deficiency.

 

7.2.
Cash Proceeds. If any Event of Default has occurred and is then continuing, in addition to the rights of the Collateral Agent
specified in Section 4.4 with respect to payments of Receivables, (a) all proceeds of any Collateral received by any Grantor
consisting of cash, checks and other Cash Equivalents (collectively, “Cash Proceeds”) shall be held by such
Grantor in trust for the Collateral Agent, segregated from other funds of such Grantor, and shall, forthwith upon receipt by such
Grantor, be turned over to the Collateral Agent in the exact form received by such Grantor (duly indorsed by such Grantor to the
Collateral Agent, if required) and held by the Collateral Agent in the Collateral Account; and (b) any Cash Proceeds received
by the Collateral Agent (whether from a Grantor or otherwise) may, in the sole discretion of the Collateral Agent, (i) be held
by the Collateral Agent for the ratable benefit of the Secured Parties, as collateral security for the Secured Obligations (whether
matured or unmatured) and/or (ii) then or at any time thereafter may be applied by the Collateral Agent against the Secured Obligations
then due and owing in accordance with the terms of the Credit Agreement.

 

7.3.
Deposit Accounts. If any Event of Default has occurred and is then continuing, the Collateral Agent may apply the balance
from any Deposit Account (other than any Excluded Account) maintained with the Collateral Agent to pay the balance of any Deposit
Account (other than any Excluded Account) to or for the benefit of the Collateral Agent.

 

    	 	- 19 -	 

     

    

 

7.4.
Investment Related Property. Each Grantor recognizes that, by reason of certain prohibitions contained in the Securities Act
and applicable state securities laws, the Collateral Agent may be compelled, with respect to any sale of all or any part of the
Investment Related Property conducted without prior registration or qualification of such Investment Related Property under the
Securities Act and/or such state securities laws, to limit purchasers to those who will agree, among other things, to acquire
the Investment Related Property for their own account, for investment and not with a view to the distribution or resale thereof.
Each Grantor acknowledges that any such private sale may be at prices and on terms less favorable than those obtainable through
a public sale without such restrictions (including a public offering made pursuant to a registration statement under the Securities
Act) and, notwithstanding such circumstances, each Grantor agrees that any such private sale shall be deemed to have been made
in a commercially reasonable manner and that the Collateral Agent has no obligation to engage in public sales and no obligation
to delay the sale of any Investment Related Property for the period of time necessary to permit the issuer thereof to register
it for a form of public sale requiring registration under the Securities Act or under applicable state securities laws, even if
such issuer would, or should, agree to so register it. If the Collateral Agent determines to exercise its right to sell any or
all of the Investment Related Property, upon written request, each Grantor shall and shall cause each issuer of any Pledged Stock
to be sold hereunder, each partnership and each limited liability company from time to time to furnish to the Collateral Agent
all such information as the Collateral Agent may request in order to determine the number and nature of interest, shares or other
instruments included in the Investment Related Property which may be sold by the Collateral Agent in exempt transactions under
the Securities Act and the rules and regulations of the Securities and Exchange Commission thereunder, as the same are from time
to time in effect.

 

7.5.
Intellectual Property.

 

(a) Rights
and Remedies of Collateral Agent. Anything contained herein to the contrary notwithstanding, in addition to the other rights
and remedies provided herein, in each case solely upon the occurrence and during the continuation of an Event of Default: (i) the
Collateral Agent has the right (but not the obligation) to bring suit or otherwise commence any action or proceeding in the name
of any Grantor, the Collateral Agent or otherwise, in the Collateral Agent’s sole discretion, to enforce or maintain any
of such Grantor’s Intellectual Property, in which event such Grantor shall, at the request of the Collateral Agent, do any
and all lawful acts and execute any and all documents required by the Collateral Agent in aid of such enforcement and such Grantor
shall promptly, upon demand, reimburse and indemnify the Collateral Agent as provided in the Credit Agreement in connection with
the exercise of its rights under this Section, and, to the extent that the Collateral Agent shall elect not to bring suit to enforce
any Intellectual Property of a Grantor as provided in this Section 7.5, each Grantor agrees to, consistent with its reasonable
business judgment, use all commercially reasonable measures, whether by action, suit, proceeding or otherwise, to prevent the infringement
or other violation of any of such Grantor’s rights in the Intellectual Property by others and for that purpose agrees to
diligently maintain any action, suit or proceeding against any Person so infringing as shall be necessary to prevent such infringement
or violation; (ii) upon Collateral Agent’s request, each Grantor shall grant, assign, convey or otherwise transfer to the
Collateral Agent or such Collateral Agent’s designee all of such Grantor’s right, title and interest in and to its
Intellectual Property to the extent permissible thereunder and shall execute and deliver to the Collateral Agent such documents
as are necessary or appropriate to carry out the intent and purposes of this Agreement; (iii) within five Business Days after written
notice from the Collateral Agent, each Grantor shall use commercially reasonable efforts to make available to the Collateral Agent,
to the extent within such Grantor’s power and authority under applicable law and contracts, such personnel in such Grantor’s
employ as may be necessary to permit such Grantor to continue, directly or indirectly, to produce, advertise and sell, or have
done so on its behalf, the products and services made, used, sold, offered for sale, distributed or delivered by such Grantor under
or in connection with the Intellectual Property, such persons to be available to perform their prior functions on the Collateral
Agent’s behalf and to be compensated by the Collateral Agent at such Grantor’s expense on a per diem, pro-rata basis
consistent with the salary and benefit structure applicable to each as of the date of such Event of Default; and (iv) the Collateral
Agent has the right to notify, or require each Grantor to notify, any obligors with respect to amounts due or to become due to
such Grantor in respect of such Grantor’s Intellectual Property, of the existence of the security interest created herein,
to direct such obligors to make payment of all such amounts directly to the Collateral Agent, and, upon such notification and at
the expense of such Grantor, to enforce collection of any such amounts and to adjust, settle or compromise the amount or payment
thereof, in the same manner and to the same extent as such Grantor might have done; provided, (A) all amounts and proceeds
(including checks and other instruments) received by a Grantor in respect of amounts due to such Grantor in respect of its Intellectual
Property or any portion thereof shall, solely upon the occurrence and during the continuation of an Event of Default, be received
in trust for the benefit of the Collateral Agent hereunder, shall be segregated from other funds of such Grantor and, upon the
Collateral Agent’s instruction, shall be forthwith paid over or delivered to the Collateral Agent in the same form as so
received (with any necessary endorsement) to be held as cash Collateral and applied as provided by Section 7.7; and (B) each Grantor
shall not adjust, settle or compromise the amount or payment of any such amount or release wholly or partly any obligor with respect
thereto or allow any credit or discount thereon.

 

    	 	- 20 -	 

     

    

 

(b) Non-Exclusive
License. If needed and for the purpose of enabling the Collateral Agent, during the continuance of an Event of Default, to
exercise rights and remedies under this Section 7 solely at such time as the Collateral Agent shall be lawfully entitled to exercise
such rights and remedies, and for no other purpose, each Grantor hereby grants to the Collateral Agent, to the extent assignable,
a non-exclusive license to use, assign, license or sublicense any of the Intellectual Property now owned or hereafter acquired
by such Grantor, wherever the same may be located, consistent with such Grantor’s ordinary course of business. Such license
shall include access to all media in which any of the licensed items may be recorded or stored and to all computer programs used
for the maintenance, compilation or printout thereof.

 

(c) Reassignment
to Grantor. If (i) an Event of Default has occurred and, by reason of cure, waiver, modification, amendment or otherwise, no
longer be continuing, (ii) no other Event of Default has occurred and be continuing, (iii) an assignment or other transfer to the
Collateral Agent of any rights, title and interests in and to the Intellectual Property has been previously made and has become
absolute and effective, and (iv) the Secured Obligations shall not have become immediately due and payable, upon the written request
of any Grantor, the Collateral Agent shall promptly execute and deliver to such Grantor, at such Grantor’s sole cost and
expense, such assignments or other transfer as may be necessary or appropriate to reassign and otherwise return to such Grantor
any such rights, title and interests as may have been assigned to the Collateral Agent as aforesaid, subject to any disposition
thereof that may have been made by the Collateral Agent; provided, after giving effect to such reassignment, the Collateral
Agent’s security interest granted pursuant hereto, as well as all other rights and remedies of the Collateral Agent granted
hereunder, shall continue to be in full force and effect; provided further, the rights, title and interests so reassigned
shall be free and clear of any other Liens granted by or on behalf of the Collateral Agent and the Secured Parties.

 

7.6.
Marshalling. The Collateral Agent shall not be under any obligation to marshal any assets in favor of any Grantor or any
other Person or against or in payment of any or all of the Secured Obligations.

 

7.7.
Application of Proceeds. If the Secured Obligations shall have been accelerated pursuant to Section 8.2 of the Credit Agreement,
all payments and proceeds received by the Collateral Agent hereunder in respect of any of the Secured Obligations shall be applied,
subject to any applicable Intercreditor Agreement, in accordance with Section 8.3 of the Credit Agreement.

 

    	 	- 21 -	 

     

    

 

7.8.
Specific Performance. Each Grantor further agrees that a breach of any of the covenants contained in this Section 7 will
cause irreparable injury to the Collateral Agent, that the Collateral Agent has no adequate remedy at law in respect of such breach
and, as a consequence, that each and every covenant contained in this Section 7 shall be specifically enforceable against
such Grantor, and such Grantor hereby waives and agrees not to assert any defenses against an action for specific performance
of such covenants except for a defense that no default has occurred giving rise to the Secured Obligations becoming due and payable
prior to their stated maturities; provided, nothing in this Section 7.8 shall in any way limit the rights of the Collateral
Agent under this Agreement or under any other Credit Document.

 

		SECTION 8.	TERMINATION AND RELEASE.

 

Upon the payment in
full of all Secured Obligations (other than any Remaining Obligations), the cancellation or termination of the Commitments and
the cancellation, expiration, posting of backstop letters of credit with respect to or Cash Collateralization of all outstanding
Letters of Credit, the security interest granted hereby shall automatically terminate hereunder and of record and all rights to
the Collateral shall revert to Grantors. Upon any such termination the Collateral Agent shall, at Grantors’ expense, execute
and deliver to Grantors or otherwise authorize the filing of such documents as Grantors shall reasonably request, including financing
statement amendments to evidence such termination. Upon any disposition of property permitted by the Credit Agreement, the Liens
granted herein shall be deemed to be automatically released and such property shall automatically revert to the applicable Grantor
with no further action on the part of any Person (including, without limitation, with respect to all Collateral of any Grantor
upon the sale of such Grantor (other than to another Grantor) in compliance with the Credit Agreement). The Collateral Agent shall,
at the Grantors’ expense, execute and deliver or otherwise authorize the filing of such documents as any Grantor shall reasonably
request, in form and substance reasonably satisfactory to the Collateral Agent, including, without limitation, financing statement
amendments to evidence such release.

 

		SECTION 9.	COLLATERAL AGENT.

 

9.1.
Appointment, Etc. The Collateral Agent has been appointed to act as Collateral Agent hereunder by Lenders and, by their
acceptance of the benefits hereof, the other Secured Parties. The Collateral Agent shall be obligated, and has the right
hereunder, to make demands, to give notices, to exercise or refrain from exercising any rights, and to take or refrain from
taking any action (including the release or substitution of Collateral), solely in accordance with this Agreement and the
Credit Agreement; provided, the Collateral Agent shall, after payment in full of all Secured Obligations (other
than any Remaining Obligations) and the cancellation, expiration, posting of backstop letters of credit with respect to or
Cash Collateralization of all outstanding Letters of Credit, exercise, or refrain from exercising, any remedies provided for
herein in accordance with the instructions of the holders of a majority of the aggregate notional amount (or, with respect to
any Secured Swap Contract or Cash Management Agreement that has been terminated in accordance with its terms, the amount then
due and payable (exclusive of expenses and similar payments but including any early termination payments then due) under such
Secured Swap Contract or Cash Management Agreement) under all Secured Swap Contracts and Cash Management Agreements. In
furtherance of the foregoing provisions of this Section, each Secured Party, by its acceptance of the benefits hereof, agrees
that it has no right individually to realize upon any of the Collateral hereunder, it being understood and agreed by such
Secured Party that all rights and remedies hereunder may be exercised solely by the Collateral Agent for the benefit of
Secured Parties. The provisions of the Credit Agreement relating to the Collateral Agent, including the provisions relating
to resignation of the Collateral Agent and the powers, duties and immunities thereof, are incorporated herein by this
reference and shall survive any termination of the Credit Agreement.

 

    	 	- 22 -	 

     

    

 

9.2.
Standard of Care. The powers conferred on the Collateral Agent hereunder are solely to protect its interest in the Collateral
and shall not impose any duty upon it to exercise any such powers. Except for the exercise of reasonable care in the custody of
any Collateral in its possession and the accounting for moneys actually received by it hereunder, the Collateral Agent has no
duty as to any Collateral or as to the taking of any necessary steps to preserve rights against prior parties or any other rights
pertaining to any Collateral. The Collateral Agent shall be deemed to have exercised reasonable care in the custody and preservation
of Collateral in its possession if such Collateral is accorded treatment substantially equal to that which the Collateral Agent
accords its own property. Neither the Collateral Agent nor any of its directors, officers, employees or agents shall be liable
for failure to demand, collect or realize upon all or any part of the Collateral or for any delay in doing so or shall be under
any obligation to sell or otherwise dispose of any Collateral upon the request of any Grantor or otherwise. If any Grantor fails
to perform any agreement contained herein, the Collateral Agent may itself perform, or cause performance of, such agreement, and
the expenses of the Collateral Agent incurred in connection therewith shall be payable by each Grantor under Section 10.2.

 

		SECTION 10.	MISCELLANEOUS.

 

10.1.
Notices. Any notice or other communication herein required or permitted to be given to a Grantor or to the Collateral
Agent shall be given pursuant to Section 10.1 of the Credit Agreement.

 

10.2.
Expenses. Each Grantor agrees to pay promptly all costs and expenses of the Collateral Agent as set forth in Section 10.2
of the Credit Agreement.

 

10.3.
Indemnity. Each Grantor agrees to indemnify the Collateral Agent as set forth in Section 10.3 of the Credit Agreement.

 

10.4.
Amendments and Waivers. Any amendment, modification, termination or waiver of this Agreement shall be effective only if made
in accordance with Section 10.5 of the Credit Agreement.

 

10.5.
Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective
successors and permitted assigns and shall inure to the benefit of the parties hereto and the successors and permitted assigns
of the Secured Parties. No Grantor’s rights or obligations hereunder nor any interest therein may be assigned or delegated
by such Grantor without the prior written consent of the Collateral Agent. Nothing in this Agreement, expressed or implied, shall
be construed to confer upon any Person (other than the parties hereto, their respective successors and assigns permitted hereby
and, to the extent expressly contemplated by the Credit Agreement, Affiliates of each of the Agents and the Lenders) any legal
or equitable right, remedy or claim under or by reason of this Agreement.

 

10.6.
Independence of Covenants. All covenants hereunder shall be given independent effect so that if a particular action or
condition is not permitted by any of such covenants, the fact that it would be permitted by an exception to, or would
otherwise be within the limitations of, another covenant shall not avoid the occurrence of a Default or an Event of Default
if such action is taken or condition exists.

 

10.7.
Survival of Representations, Warranties and Agreements. All representations, warranties and agreements made herein shall survive
the execution and delivery hereof and the making of any Credit Extension.

 

    	 	- 23 -	 

     

    

 

10.8.
No Waiver; Remedies Cumulative. No failure or delay on the part of the Collateral Agent in the exercise of any power, right
or privilege hereunder or under any other Credit Document shall impair such power, right or privilege or be construed to be a
waiver of any default or acquiescence therein, nor shall any single or partial exercise of any such power, right or privilege
preclude other or further exercise thereof or of any other power, right or privilege. The rights, powers and remedies given to
the Collateral Agent hereby are cumulative and shall be in addition to and independent of all rights, powers and remedies existing
by virtue of any statute or rule of law or in any of the other Credit Documents, any Secured Swap Contracts or any Cash Management
Agreements. Any forbearance or failure to exercise, and any delay in exercising, any right, power or remedy hereunder shall not
impair any such right, power or remedy or be construed to be a waiver thereof, nor shall it preclude the further exercise of any
such right, power or remedy.

 

10.9.
Severability. In case any provision in or obligation hereunder shall be invalid, illegal or unenforceable in any jurisdiction,
the validity, legality and enforceability of the remaining provisions or obligations, or of such provision or obligation in any
other jurisdiction, shall not in any way be affected or impaired thereby.

 

10.10.
Headings. Section headings herein are included herein for convenience of reference only and shall not constitute a part
hereof for any other purpose or be given any substantive effect.

 

10.11.
Governing Law. This Agreement and any claims, controversy, dispute or cause of action (whether in contract or tort or otherwise)
based upon, arising out of or relating to this Agreement and the transactions contemplated hereby and thereby shall be governed
by, and construed in accordance with, the law of the State of New York.

 

10.12.
Consent to Jurisdiction. Each Grantor irrevocably and unconditionally agrees that it will not commence any action, litigation
or proceeding of any kind or description, whether in law or equity, whether in contract or in tort or otherwise, against the Collateral
Agent in any way relating to this Agreement or the transactions relating hereto, in any forum other than the courts of the State
of New York sitting in New York County, and of the United States District Court of the Southern District of New York, and any
appellate court from any thereof, and each of the parties hereto irrevocably and unconditionally submits to the jurisdiction of
such courts and agrees that all claims in respect of any such action, litigation or proceeding may be heard and determined in
such New York State court or, to the fullest extent permitted by applicable law, in such federal court. Each of the parties hereto
agrees that a final judgment in any such action, litigation or proceeding shall be conclusive and may be enforced in other jurisdictions
by suit on the judgment or in any other manner provided by law. Nothing in this Agreement shall affect any right that the Collateral
Agent may otherwise have to bring any action or proceeding relating to this Agreement against any Grantor or its properties in
the courts of any jurisdiction. Each Grantor irrevocably and unconditionally waives, to the fullest extent permitted by applicable
law, any objection that it may now or hereafter have to the laying of venue of any action or proceeding arising out of or relating
to this Agreement in any court referred to herein. Each of the parties hereto hereby irrevocably waives, to the fullest extent
permitted by applicable law, the defense of an inconvenient forum to the maintenance of such action or proceeding in any such
court. Each party hereto irrevocably consents to service of process in the manner provided for notices in Section 10.1. Nothing
in this Agreement will affect the right of any party hereto to serve process in any other manner permitted by applicable law.

 

10.13.
WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT
IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR
ANY OTHER CREDIT DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY).
EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PERSON HAS REPRESENTED, EXPRESSLY OR OTHERWISE,
THAT SUCH OTHER PERSON WOULD NOT, IF LITIGATION OCCURS, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND
THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE OTHER CREDIT DOCUMENTS BY, AMONG OTHER THINGS,
THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION.

 

    	 	- 24 -	 

     

    

 

10.14.
Counterparts. This Agreement may be executed in counterparts (and by different parties hereto in different counterparts),
each of which shall constitute an original, but all of which when taken together shall constitute a single contract. Delivery
of an executed counterpart of a signature page of this Agreement by facsimile or in electronic (i.e., “pdf”
or “tif”) format shall be effective as delivery of a manually executed counterpart of this Agreement.

 

10.15. No
Strict Construction. The parties hereto have participated jointly in the negotiation and drafting
of this Agreement. If an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as if drafted
jointly by the parties hereto and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of
the authorship of any provisions of this Agreement.

 

10.16.
INTERCREDITOR AGREEMENT. NOTWITHSTANDING ANYTHING HEREIN TO THE CONTRARY, THE PRIORITY OF
THE LIEN AND SECURITY INTEREST GRANTED TO THE COLLATERAL AGENT PURSUANT TO THIS AGREEMENT AND THE EXERCISE OF ANY RIGHT OR
REMEDY BY THE COLLATERAL AGENT HEREUNDER ARE SUBJECT TO THE PROVISIONS OF ANY APPLICABLE INTERCREDITOR AGREEMENT (IT BEING
UNDERSTOOD THAT AS OF THE CLOSING DATE NO INTERCREDITOR AGREEMENT IS IN EFFECT). IN THE EVENT OF ANY CONFLICT BETWEEN THE
TERMS OF ANY SUCH INTERCREDITOR AGREEMENT AND THIS AGREEMENT GOVERNING THE PRIORITY OF THE SECURITY INTERESTS GRANTED TO THE
COLLATERAL AGENT OR THE EXERCISE OF ANY RIGHT OR REMEDY, THE TERMS OF SUCH INTERCREDITOR AGREEMENT SHALL GOVERN AND
CONTROL.

 

10.17.
Jones Act Restrictions. Any provision of this Agreement to the contrary notwithstanding, it is the intention of the parties
hereto that nothing contained herein shall create or permit to exist any interest in, control over, or right to vote, the Collateral
that would make it unlawful for any U.S.-flag Vessel included in the Collateral to be documented under the laws of the United
States with a coastwise endorsement, or cause any US-flag Vessel included in the Collateral to lose such endorsement (a “Prohibited
Controlling Interest”). Any provision of this Agreement which, in the absence of this restriction, would create a Prohibited
Controlling Interest is null and void.

 

[remainder of page intentionally left blank]

 

    	 	- 25 -	 

     

    

 

IN WITNESS WHEREOF,
each Grantor and the Collateral Agent have caused this Agreement to be duly executed and delivered by their respective officers
thereunto duly authorized as of the date first written above.

 

	 	NRC US HOLDING COMPANY, LLC, as a Grantor
	 	 	 	 
	 	By:	/s/ Glenn M. Shor
	 	 	Name:	Glenn M. Shor
	 	 	Title:	Secretary
	 	 	 	 
	 	SPRINT ENERGY SERVICES, LLC, as a Grantor
	 	 	 	 
	 	By:	/s/ Philip Bowman
	 	 	Name:	Philip Bowman
	 	 	Title:	Chief Financial Officer
	 	 	 	 
	 	NRC GROUP HOLDINGS, LLC
	 	 	 	 
	 	By:	/s/ Glenn M. Shor
	 	 	Name:	Glenn M. Shor
	 	 	Title:	Assistant Secretary
	 	 	 	 
	 	JFL-NRC HOLDINGS, LLC
	 	NATIONAL RESPONSE CORPORATION
	 	NRC ENVIRONMENTAL SERVICES INC.
	 	OSRV HOLDINGS, INC.
	 	NRC PAYROLL MANAGEMENT LLC
	 	NRC ALASKA, LLC
	 	SPECIALIZED RESPONSE SOLUTIONS, L.P.
	 	NATL RESPONSE CORPORATION OF PUERTO RICO, as Grantors
	 	 	 	 
	 	By:	/s/ Glenn M. Shor
	 	 	Name:	Glenn M. Shor
	 	 	Title:	Secretary

 

    Signature Page to Pledge and Security Agreement

     

    

 

	 	SES HOLDCO, LLC
	 	SPRINT KARNES COUNTY DISPOSAL LLC, as Grantors
	 	 	 	 
	 	By:	/s/ Glenn M. Shor
	 	 	Name:	Glenn M. Shor
	 	 	Title:	Vice President
	 	 	 	 
	 	ENPRO HOLDINGS GROUP, INC.
	 	ENPRO SERVICES OF MAINE, INC.
	 	ENPRO SERVICES OF VERMONT, INC.
	 	TMC SERVICES, INC., as Grantors
	 	 	 	 
	 	By:	/s/ Paul Taveira
	 	 	Name:	Paul Taveira 
	 	 	Title:	President
	 	 	 	 
	 	PROGRESSIVE ENVIRONMENTAL SERVICES, INC.
	 	SOUTHERN WASTE, INC.
	 	EAGLE CONSTRUCTION AND ENVIRONMENTAL SERVICES, LLC, as Grantors
	 	 	 	 
	 	By:	/s/ Glenn M. Shor
	 	 	Name:	Glenn M. Shor
	 	 	Title:	Treasurer and Assistant Secretary
	 	 	 	 
	 	NRC NY ENVIRONMENTAL SERVICES, INC.
	 	NRC EAST ENVIRONMENTAL SERVICES, INC.,
	 	TERRALINK SYSTEMS INC., as Grantors
	 	 	 	 
	 	By:	/s/ Paul Taveira
	 	 	Name:	Paul Taveira 
	 	 	Title:	President and CEO

 

    Signature Page to Pledge and Security Agreement

     

    

 

	 	BNP PARIBAS, as Collateral Agent
	 	 	 	 
	 	By:	/s/ Michael Colias
	 	 	Name:	Michael Colias
	 	 	Title:	Managing Director
	 	 	 	 
	 	By:	/s/ Davin Engelson
	 	 	Name:	Davin Engelson
	 	 	Title:	Director

 

    Signature Page to Pledge and Security Agreement

     

    

 

EXHIBIT A

TO PLEDGE AND SECURITY AGREEMENT

 

PLEDGE
SUPPLEMENT

 

This PLEDGE SUPPLEMENT,
dated [mm/dd/yy], is delivered by [NAME OF GRANTOR] (the “Grantor”) pursuant to the Pledge and
Security Agreement, dated as of June 11, 2018 (as it may be amended, restated, supplemented or otherwise modified from time to
time, the “Security Agreement”), among NRC US HOLDING COMPANY, LLC, a Delaware limited liability company
(the “NRC Borrower”), SPRINT ENERGY SERVICES, LLC, a Delaware limited liability company (the “Sprint
Borrower”, and collectively with the NRC Borrower, the “Borrowers” and each a “Borrower”),
JFL-NRC HOLDINGS, LLC, a Delaware limited liability company (“NRC Holdings”), SES HOLDCO, LLC,
a Delaware limited liability company, as Holdings Companies, NRC GROUP HOLDINGS, LLC, a Delaware limited liability company
(“Parent”), the other Grantors named therein, and BNP PARIBAS, as the Collateral Agent. Capitalized terms
used herein not otherwise defined herein has the meanings ascribed thereto in the Security Agreement.

 

Grantor hereby confirms
the grant to the Collateral Agent set forth in the Security Agreement of, and does hereby grant to the Collateral Agent, for the
benefit of the Secured Parties, a security interest in all of Grantor’s right, title and interest in and to all Collateral
to secure the Secured Obligations, in each case whether now or hereafter existing or in which Grantor now has or hereafter acquires
an interest and wherever the same may be located. Grantor represents and warrants that the attached supplements to Schedules to
the Security Agreement accurately and completely set forth all additional information required to be provided pursuant to the Security
Agreement and hereby agrees that such supplements to Schedules to the Security Agreement shall constitute part of the Schedules
to the Security Agreement.

 

[remainder of page intentionally
left blank]

 

    	 	Exhibit A-1	 

     

    

 

IN WITNESS WHEREOF,
Grantor has caused this Pledge Supplement to be duly executed and delivered by its duly authorized officer as of the date first
written above.

 

	 	[NAME OF GRANTOR]
	 	 	 
	 	By:	           
	 	Name:	 
	 	Title:	 

 

    	 	Exhibit A-2	 

     

    

 

EXHIBIT B

TO PLEDGE AND SECURITY AGREEMENT

 

INTELLECTUAL
PROPERTY SECURITY AGREEMENT

 

This INTELLECTUAL
PROPERTY SECURITY AGREEMENT (this “Agreement”) is made as of [mm/dd/yy] between each of the signatories
hereto (collectively, the “Grantors”) in favor of BNP PARIBAS, as collateral agent for the Secured Parties
(in such capacity, the “Collateral Agent”) (as defined in the Pledge and Security Agreement referred to below).

 

RECITALS:

 

WHEREAS, reference
is made to that certain Pledge and Security Agreement, dated as of June 11, 2018 (as it may be amended, restated, supplemented
or otherwise modified from time to time, the “Pledge and Security Agreement”), by and among the Grantors, the
other grantors party thereto and the Collateral Agent; and

 

WHEREAS, under
the terms of the Pledge and Security Agreement, the Grantors have (i) as collateral security for the Secured Obligations, granted
to the Collateral Agent a security interest in and continuing lien on all of such Grantor’s right, title and interest in,
to and under the Collateral (as defined in the Pledge and Security Agreement), including, without limitation, certain Intellectual
Property of the Grantors and (ii) agreed to execute this Agreement for recording with [the United States Patent and Trademark Office][the
United States Copyright Office], and other applicable Governmental Authorities.

 

NOW, THEREFORE,
in consideration of the premises and the agreements, provisions and covenants herein contained, each Grantor and the Collateral
Agent agree as follows:

 

Section 1. Grant
of Security. As collateral security for the prompt and complete payment or performance in full when due, whether at stated
maturity, by required prepayment, declaration, acceleration, demand or otherwise of the Secured Obligations, each Grantor hereby
grants to the Collateral Agent a security interest in and continuing lien on all of such Grantor’s right, title and interest
in, to and under the following:

 

[(a) All United
States copyrights (including Community designs), including but not limited to copyrights in software and all rights in and to databases,
and all Mask Works (as defined under 17 USC 901 of the United States Copyright Act), whether registered or unregistered, moral
rights, reversionary interests, termination rights, and, with respect to any and all of the foregoing: (i) all registrations and
applications therefor including, without limitation, the registrations and applications referred to in Schedule 1 hereto;
(ii) all extensions and renewals thereof; (iii) all rights corresponding thereto throughout the world; (iv) all rights in any material
which is copyrightable under, or which is protected by United States federal laws or the law of any state thereof; (v) all rights
to sue for past, present and future infringements thereof; and (vi) all Proceeds of the foregoing, including any royalties or income
from the Copyright Licenses and any and all payments, claims, damages and proceeds of suit (collectively, the “Copyrights”)
and all exclusive Copyright Licenses including, without limitation, any such licenses identified in Schedule 1 hereto.]

 

[(b) All United
States patents and certificates of invention, or similar industrial property, design or plant rights, for any of the foregoing,
including, but not limited to: (i) all registrations, provisional and applications referred to in Schedule 1 hereto; (ii)
all reissues, divisions, continuations, continuations-in-part, extensions, renewals, and reexaminations therefor; (iii) all rights
corresponding thereto throughout the world; (iv) all inventions and improvements described therein; (v) all rights to sue for past,
present and future infringements thereof; and (vi) all Proceeds of the foregoing, including any royalties or income from the Patent
Licenses and any and all payments, claims, damages and proceeds of suit (collectively, the “Patents”).]

 

    	 	Exhibit B-1	 

     

    

 

[(c) All United
States trademarks, trade names, corporate names, company names, business names, fictitious business names, Internet domain names,
service marks, certification marks, collective marks, logos, other source or business identifiers, designs and general intangibles
of a like nature, all registrations and applications for any of the foregoing including, but not limited to (i) the registrations
and applications referred to in Schedule 1 hereto, (ii) all extensions or renewals of any of the foregoing, (iii) all of
the goodwill of the business associated with the use of and symbolized by the foregoing, (iv) the right to sue for past, present
and future infringement or dilution of any of the foregoing or for any injury to goodwill, and (v) all Proceeds of the foregoing,
including any royalties or income from the Trademark Licenses and any and all payments, claims, damages, and proceeds of suit (collectively,
the “Trademarks”).]

 

Section 2. Recordation. Each
Grantor authorizes and requests that [the Register of Copyrights][the Commissioner of Patents and Trademarks] and any other applicable
government officer record this Agreement.

 

Section 3. Counterparts. This
Agreement may be executed in counterparts (and by different parties hereto in different counterparts), each of which shall constitute
an original, but all of which when taken together shall constitute a single contract. Delivery of an executed counterpart of a
signature page of this Agreement by facsimile or in electronic (i.e., “pdf” or “tif”) format shall
be effective as delivery of a manually executed counterpart of this Agreement.

 

Section 4. Governing Law. This
Agreement and any claims, controversy, dispute or cause of action (whether in contract or tort or otherwise) based upon, arising
out of or relating to this Agreement and the transactions contemplated hereby and thereby shall be governed by, and construed in
accordance with, the law of the State of New York.

 

Section 5. Conflict Provision.
This Agreement has been entered into in conjunction with the provisions of the Pledge and Security Agreement and the Credit Agreement.
The rights and remedies of each party hereto with respect to the security interest granted herein are without prejudice to, and
are in addition to those set forth in the Pledge and Security Agreement and the Credit Agreement, all terms and provisions of which
are incorporated herein by reference. If any provisions of this Intellectual Property Security Agreement are in conflict with the
Pledge and Security Agreement or the Credit Agreement, the provisions of the Pledge and Security Agreement or the Credit Agreement
shall govern.

 

[remainder of page intentionally left blank]

 

    	 	Exhibit B-2	 

     

    

 

IN WITNESS WHEREOF,
each Grantor and the Collateral Agent have caused this Agreement to be duly executed and delivered by their respective officers
thereunto duly authorized as of the date first written above.

 

	 	[NAME OF GRANTOR],
	 	as a Grantor
	 	 	 
	 	By:	           
	 	Name:	 
	 	Title:	 

 

    	 	Exhibit B-3	 

     

    

 

	 	BNP PARIBAS, as Collateral Agent
	 	 	 
	 	By:	           
	 	Name:	 
	 	Title:	 
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 

 

    	 	Exhibit B-4

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