Document:

EX-10.8

 Exhibit 10.8 
  

 
  

SUBORDINATION AGREEMENT 
 by 

MIDCOAST ENERGY PARTNERS, L.P., 

MIDCOAST OPERATING, L.P., 
 Other
Credit Parties from time to time party hereto 
 and 

ENBRIDGE ENERGY PARTNERS, L.P., 

Certain of its Subsidiaries and Affiliates from time to time party hereto 

In favor of 
 BANK OF AMERICA,
N.A., 
 as Administrative Agent, Swing Line Lender, and an L/C Issuer 

Dated as of November 13, 2013 
  

 
  

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	 ARTICLE 1
	 	INTERPRETATION	  	 	2	  
			
	 1.1
	 	Definitions	  	 	2	  
			
	 1.2
	 	Terms Generally	  	 	6	  
			
	 1.3
	 	Headings	  	 	6	  
			
	 1.4
	 	Governing Law	  	 	6	  
			
	 1.5
	 	Severability	  	 	6	  
			
	 1.6
	 	Time of the Essence	  	 	6	  
			
	 ARTICLE 2
	 	POSTPONEMENT AND SUBORDINATION OF PAYMENT	  	 	7	  
			
	 2.1
	 	General Postponement and Subordination	  	 	7	  
			
	 2.2
	 	Priority of Senior Indebtedness on Dissolution or Insolvency	  	 	7	  
			
	 ARTICLE 3
	 	PRIORITY OF LIENS; LIEN SUBORDINATION	  	 	8	  
			
	 3.1
	 	No Liens on Collateral Securing Subordinated Indebtedness Prior to Springing Lien Trigger Event	  	 	8	  
			
	 3.2
	 	Relative Priorities	  	 	9	  
			
	 3.3
	 	Bailment for Perfection of Certain Security Interests	  	 	10	  
			
	 3.4
	 	Certain Agreements with Respect to Unenforceable Liens	  	 	10	  
			
	 ARTICLE 4
	 	ENFORCEMENT OF RIGHTS AND REMEDIES	  	 	11	  
			
	 4.1
	 	Exercise of Rights and Remedies	  	 	11	  
			
	 4.2
	 	No Waiver by Senior Lenders	  	 	12	  
			
	 4.3
	 	Automatic Release of Subordinated Liens	  	 	12	  
			
	 4.4
	 	Insurance and Condemnation Awards	  	 	12	  
			
	 ARTICLE 5
	 	NO INTERFERENCE	  	 	13	  
			
	 5.1
	 	Prohibited Acts	  	 	13	  
			
	 5.2
	 	Additional Agreements	  	 	16	  
			
	 5.3
	 	Certain Additional Waivers by Subordinated Debt Parties	  	 	17	  
			
	 ARTICLE 6
	 	ADDITIONAL PAYMENT PROVISIONS; PAYMENT OVER	  	 	17	  
			
	 6.1
	 	Payment Over	  	 	17	  
			
	 6.2
	 	Application of Payments	  	 	18	  
			
	 6.3
	 	Payment in Full on Senior Indebtedness	  	 	18	  
			
	 6.4
	 	Legend on Subordinated Debt Instruments	  	 	18	  
			
	 ARTICLE 7
	 	PERMITTED PAYMENTS	  	 	18	  
			
	 7.1
	 	Permitted Payments	  	 	18	  

  
 -i- 

 TABLE OF CONTENTS 

(continued) 
  

							
	 	 	 	  	Page	 
	 ARTICLE 8
	 	SUBROGATION	  	 	19	  
			
	 8.1
	 	Restriction on Subrogation	  	 	19	  
			
	 8.2
	 	Transfer by Subrogation	  	 	19	  
			
	 ARTICLE 9
	 	DEALINGS WITH BORROWER	  	 	19	  
			
	 9.1
	 	Restriction Dealings by Subordinated Creditor	  	 	19	  
			
	 9.2
	 	Permitted Dealings by Senior Lenders	  	 	19	  
			
	 ARTICLE 10
	 	REPRESENTATIONS AND WARRANTIES	  	 	20	  
			
	 10.1
	 	Representations and Warranties	  	 	20	  
			
	 ARTICLE 11
	 	CONTINUING SUBORDINATION	  	 	21	  
			
	 11.1
	 	Continuing Subordination; Reinstatement	  	 	21	  
			
	 11.2
	 	Other Obligations not Affected	  	 	22	  
			
	 11.3
	 	Acknowledgment of Documentation	  	 	22	  
			
	 ARTICLE 12
	 	NO LIABILITY; OBLIGATIONS ABSOLUTE	  	 	22	  
			
	 12.1
	 	Information	  	 	22	  
			
	 12.2
	 	No Warranties or Liability	  	 	22	  
			
	 12.3
	 	Rights of Administrative Agent and Senior Lenders Not Affected	  	 	23	  
			
	 ARTICLE 13
	 	GENERAL PROVISIONS	  	 	23	  
			
	 13.1
	 	Notices	  	 	23	  
			
	 13.2
	 	Amendments and Waivers	  	 	24	  
			
	 13.3
	 	Assignment by Lenders	  	 	24	  
			
	 13.4
	 	Effectiveness in Insolvency or Liquidation Proceedings	  	 	24	  
			
	 13.5
	 	Assignment and Certain Other Actions by Subordinated Creditor	  	 	24	  
			
	 13.6
	 	Further Assurances	  	 	25	  
			
	 13.7
	 	Counterparts	  	 	25	  
			
	 13.8
	 	Specific Performance	  	 	25	  
			
	 13.9
	 	Waiver of Right to Trial by Jury	  	 	25	  
			
	 13.10
	 	Obligor Acknowledgment	  	 	25	  
			
	 13.11
	 	Beneficiaries	  	 	25	  

  
 -ii- 

 SUBORDINATION AGREEMENT 

THIS SUBORDINATION AGREEMENT made as of November 13, 2013 (as the same may be amended, restated, supplemented or otherwise modified from time to time,
this “Agreement”), by MIDCOAST ENERGY PARTNERS, L.P., a Delaware limited partnership (“MEP”), MIDCOAST OPERATING, L.P., a Texas limited partnership (“Midcoast,” and together
with MEP, collectively, the “Borrowers” and individually, a “Borrower”), the other Credit Parties (as defined below) party hereto or from time to time party hereto, ENBRIDGE ENERGY PARTNERS, L.P., a
Delaware limited partnership (“EEP”), the subsidiaries and other affiliates of EEP party hereto or from time to time party hereto (each an “EEP Affiliate,” and together with EEP and each of their
respective successors and permitted assigns, collectively, the “Subordinated Creditors” and individually, a “Subordinated Creditor”), in favor of BANK OF AMERICA, N.A., as Administrative Agent, Swing
Line Lender, and an L/C Issuer, and the Senior Lenders (as defined below). 
 PRELIMINARY STATEMENT 

Reference is made to the Credit Agreement dated as of even date herewith (as it may be amended, restated, increased, renewed, refinanced,
extended or otherwise modified or supplemented from time to time, the “Credit Agreement,” which term shall include any credit agreement entered into in replacement thereof), among the Borrowers, the Subsidiary Guarantors (as
defined in the Credit Agreement), the lenders from time to time party thereto, and Bank of America, N.A., as Administrative Agent, Swing Line Lender, and an L/C Issuer. 

RECITALS 
 WHEREAS, EEP
and Midcoast, a borrower under the Credit Agreement, are parties to (i) that certain Financial Support Agreement effective as of the date hereof (as the same may be amended, restated, supplemented or otherwise modified from time to time, the
“Financial Support Agreement”), pursuant to which EEP has agreed, among other things, to continue to facilitate the provision of letters of credit to Midcoast and its subsidiaries under EEP’s credit facilities and to
provide guarantees to Midcoast and its subsidiaries, each on the terms and conditions set forth in the Financial Support Agreement, and (ii) that certain Working Capital Loan Agreement effective as of the date hereof (as the same may be
amended, restated, supplemented or otherwise modified from time to time, the “Working Capital Agreement” and, collectively with the Financial Support Agreement, the “Support Agreements,” and
individually, a “Support Agreement”) pursuant to which EEP has agreed, among other things, to make revolving loans to Midcoast, on the terms and conditions set forth in the Working Capital Agreement; 

WHEREAS, Midcoast and certain of its subsidiaries may from time to time owe certain reimbursement obligations or other indebtedness to EEP
under the Support Agreements; 
 WHEREAS, Section 3(c) of the Financial Support Agreement and Section 29(c) of the Working Capital
Agreement generally provide, among other things, that Midcoast may not, and shall not permit any of its affiliates to, grant or permit any liens on any asset or property to secure the indebtedness and obligations under the Credit Agreement, unless
it and each of them has granted or concurrently grants a lien to EEP on such asset or property to secure its obligations under the Financial Support Agreement and the Working Capital Agreement, respectively, on a second-priority basis, and, in
scope, nature, type of, but second priority to, the liens at any time, and from time to time, granted, created, perfected and maintained to secure the indebtedness and obligations under the Credit Agreement; 

  
 1 

 WHEREAS, upon the occurrence of a Springing Lien Trigger Event (as defined in the Credit
Agreement), Borrowers and the Subsidiary Guarantors shall grant Administrative Agent for the benefit of the Senior Lenders a valid and perfected first-priority security interest, subject only to Permitted Liens, in the Springing Lien Collateral
(each as defined in the Credit Agreement) to secure the Obligations (as defined in the Credit Agreement) and, pursuant to the respective Support Agreements, shall grant EEP a valid and perfected, second-priority security interest in the same
Springing Lien Collateral, junior in all respects to the security interest granted in favor of the Administrative Agent under the Credit Agreement; 

WHEREAS, pursuant to Credit Agreement and related Loan Documents (as defined below), the Borrowers and Subsidiary Guarantors (collectively,
the “Obligors,” and individually, an “Obligor”) will owe certain Senior Indebtedness (as defined below) to the Senior Lenders, and it is a condition to the Senior Lenders’ willingness to enter
into the Credit Agreement and related Loan Documents that, among other things, (i) the Subordinated Creditors shall have subordinated their right to payment to all indebtedness or obligations now or hereafter owed or owing by the Obligors to
the Subordinated Creditors under the Support Agreements in the manner and to the extent provided in this Agreement, (ii) in the event a Springing Lien Trigger Event occurs, the Senior Indebtedness shall be secured by first-priority,
duly-perfected liens on, and security interests against, the Springing Lien Collateral, (iii) the Subordinated Indebtedness (as defined herein) shall at all times be unsecured, except that if a Springing Lien Trigger Event occurs and the Senior
Lenders shall first have been granted a first-priority, duly-perfected lien and security interest in and against the Springing Lien Collateral, the Subordinated Creditor may at such time, and only to the extent expressly permitted under the Support
Agreements, receive a junior priority lien and security interest in the same collateral to secure the Subordinated Indebtedness, but all such liens and security interests shall be subordinate and junior to all first-priority Liens and security
interests securing the Senior Indebtedness; and 
 WHEREAS, the Credit Agreement requires, among other things, that the parties hereto set
forth in this Agreement, among other things, their respective rights, obligations and remedies with respect to the payment of the Senior Indebtedness and the Subordinated Indebtedness and with respect to the common Collateral, each as herein
defined. 
 NOW THEREFORE, for good and valuable consideration (the receipt and sufficiency of which are hereby acknowledged by the
Subordinated Creditors and the Obligors), and to induce the Senior Lenders to enter into the Credit Agreement and related Loan Documents, from which Subordinated Creditors and Obligors will receive benefit, the Obligors and the Subordinated
Creditors hereby agree, for the benefit of the Administrative Agent and the other Senior Lenders, as follows: 
 Article 1 

INTERPRETATION 
 1.1
Definitions 
 In this Agreement, including the preliminary statement and the recitals, capitalized terms used herein, and not otherwise
defined herein, shall have the meanings attributed to such terms in the Credit Agreement. In addition, the following terms shall have the following meanings: 

“Administrative Agent” shall mean Bank of America, N.A., as the initial Administrative Agent under the Credit
Agreement, and its successors and assigns, including any new Administrative Agent under any Refinancing of the Senior Indebtedness. 

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

  
 2 

 “Bankruptcy Code” shall mean Title 11 of the United States Code entitled
“Bankruptcy,” as now and hereinafter in effect, or any successor statute. 
 “Bankruptcy Law” shall mean
the Bankruptcy Code and any other Federal, state or foreign bankruptcy, insolvency, receivership or similar law. 

“Borrower” and “Borrowers” each shall have the meaning assigned to such term in the
introductory paragraph hereof. 
 “Collateral” shall have the meaning assigned to the term “Springing Lien
Collateral” in the Credit Agreement. 
 “Control” means the possession, directly or indirectly, of the power to
direct or cause the direction of the management and policies of a Person, whether through the ability to exercise voting power, by contract or otherwise. “Controlling” and “Controlled” have meanings correlative
thereto. 
 “Credit Agreement” shall have the meaning assigned to such term in the preliminary statement hereof.

 “Credit Party” or “Credit Parties” shall have the meaning assigned to the respective
terms “Loan Party” and “Loan Parties” in the Credit Agreement. 
 “DIP Financing” shall have the
meaning assigned to such term in Section 5.1 l hereof. 
 “DIP Financing Liens” shall have the meaning
assigned to such term in Section 5.1 l hereof. 
 “DIP Lenders” shall have the meaning assigned to such
term in Section 5.1 l hereof. 
 “Discharge of Senior Indebtedness” shall mean (a) indefeasible
payment in full in cash of all outstanding Obligations, (b) termination or expiration of all Letters of Credit (other than Letters of Credit as to which arrangements satisfactory to each L/C Issuer thereof, in its sole discretion, have been
made) and (c) termination of each Commitment and the reduction of the Aggregate Commitments to zero. 
 “Discharge of
Subordinated Indebtedness” shall mean payment in full of all outstanding obligations under the Support Agreements, termination or expiration of all letters of credit (other than letters of credit as to which arrangements satisfactory to
each letter of credit issuer thereof, in its sole discretion, have been made) and guarantees thereunder, and termination of all obligations and commitments thereunder and the reduction thereof to zero, provided such payment, terminations,
expiration, satisfactory arrangements and reduction referred to in this definition are evidenced by a signed writing to such effect by an authorized representative of each Subordinated Debt Party and delivered to Administrative Agent and,
provided, further, all payments or transfers received by a Subordinated Debt Party on account of Subordinated Indebtedness constituted Permitted Payments hereunder and were not otherwise prohibited by or in violation of the Credit
Agreement or this Agreement. 
 “Disposition” shall mean any sale, lease, exchange, transfer or other disposition.
“Dispose” shall have a correlative meaning. 
 “EEP” shall have the meaning assigned
to such term in the introductory paragraph hereof. 
 “EEP Affiliates” shall have the meaning assigned to
such term in the introductory paragraph hereof. 

  
 3 

 “Enforcement Action” shall mean (a) an action, proceeding, or
similar undertaking with respect to the Collateral, or any portion thereof, (i) to collect or to cause, in each case either directly or indirectly, whether from the exercise of Control or otherwise, the payment of any Subordinated Indebtedness
from a Credit Party, (ii) to take from or for the account of any Credit Party, by set-off, recoupment or in any other manner, the whole or any part of any moneys or accounts which may now or hereafter be owing by or to any Credit Party or
(iii) to enforce or exercise, or seek to enforce or exercise, any rights and remedies under any agreement or document in respect of the Collateral, or any portion thereof, or under applicable law with respect to the Collateral, (b) to
exercise any put option or to cause any Credit Party to honor any redemption or mandatory prepayment obligation under any agreement or document in respect of Subordinated Indebtedness or (c) to take any action under the provisions of any state
or federal law, including, without limitation, the Uniform Commercial Code, or under any contract or agreement, to enforce, attach, recover against, foreclose upon, take possession of or sell any Collateral. 

“Equity Interests” shall have the meaning assigned to the term “Capital Stock” in the Credit Agreement. 

“Financial Support Agreement” shall have the meaning assigned to such term in the recitals hereof. 

“Guarantors” shall have the meaning assigned to the term “Subsidiary Guarantors” in the Credit Agreement.

 “Impermissible Subordinated Debt Liens” shall have the meaning assigned to such term in
Section 3.1(c) hereof. 
 “Insolvency Proceeding” shall mean (a) any voluntary or involuntary case
or proceeding under the Bankruptcy Code or any other Bankruptcy Law with respect to any Credit Party or for property or assets of any Credit Party, (b) any voluntary or involuntary appointment of a receiver, trustee, custodian, sequestrator,
conservator or similar official for any Credit Party or for property or assets of any Credit Party, (c) any voluntary or involuntary dissolution, winding-up, readjustment or liquidation of any Credit Party, or (d) a general assignment for
the benefit of creditors by any Credit Party. 
 “Midcoast” shall have the meaning assigned to such term in the
introductory paragraph hereof. 
 “Non-Conforming Plan of Reorganization” means any Plan of Reorganization in an
Insolvency Proceeding or other Proceeding (as defined below) that contravenes the terms of this Agreement, including without limitation, any Plan of Reorganization that does not provide for payments or distributions in respect of the Senior
Indebtedness (and any security thereof) to be made with the priority specified herein or that seeks to make payments or distributions on account of the Subordinated Indebtedness (or any security thereof) prior to the Discharge of the Senior
Indebtedness. 
 “Obligor” and Obligors” each shall have the meaning assigned to such term in the
recitals hereof. 
 “Other Pledged or Controlled Collateral” shall have the meaning assigned to such term in
Section 3.3 hereof. 
 “Permitted Payments” shall have the meaning assigned to such term in
Section 7.1 hereof. 
 “Plan of Reorganization” shall mean any plan of reorganization, plan of
liquidation, agreement for composition, or other type of plan of arrangement or agreement proposed in or in connection with any Insolvency Proceeding or other Proceeding. 

  
 4 

 “Post-Petition Interest” shall mean interest (including interest at the
Default Rate) accrued or accruing (or which would, absent commencement of an Insolvency Proceeding, accrue) after the commencement of any Insolvency Proceeding, whether or not allowed or allowable in such Insolvency Proceeding. 

“Proceeding” shall have the meaning assigned to such term in Section 2.2(a) hereof. 

“Refinance” shall mean, in respect of any Indebtedness, to refinance, extend, renew, restructure or replace, or to
issue other Indebtedness in exchange or replacement for, such Indebtedness, in whole or in part. “Refinanced” “Refinances” and “Refinancing” shall have correlative meanings.

 “Refinancing Indebtedness” shall mean Indebtedness that Refinances Senior Indebtedness. 

“Release” shall have the meaning assigned to such term in Section 4.3a hereof. 

“Senior Indebtedness” shall have the meaning assigned to the term “Obligations” in the Credit Agreement,
together with (a) Post-Petition Interest and (b) all fees, costs, charges, and expenses, including reasonable Attorney Costs, accrued or incurred after the commencement of any Insolvency Proceeding, whether or not allowed or allowable in
such Insolvency Proceeding. For the avoidance of doubt, to the extent any payment with respect to any Senior Indebtedness (whether by or on behalf of any Credit Party, as proceeds of Collateral, enforcement of any Lien, right of setoff or otherwise)
is declared to be a fraudulent conveyance or a preference in any respect, set aside or required to be paid to a debtor-in- possession, trustee, a creditor, any Subordinated Debt Party (as defined below), receiver or similar Person, then the
obligation or part thereof originally intended to be satisfied shall, for the purposes of this Agreement and the rights and obligations of the Senior Lenders and each Subordinated Debt Party, be deemed to be reinstated and outstanding as if such
payment had not occurred. 
 “Senior Lenders” means, collectively, Bank of America, N.A., as Administrative Agent,
Swing Line Lender, and an L/C Issuer, together with the lenders and other L/C Issuers from time to time, and at each relevant time of determination, party to the Credit Agreement. 

“Subordinated Creditor” and “Subordinated Creditors” each shall have the meaning set forth in
the introductory paragraph hereof. 
 “Subordinated Debt Party” or “Subordinated Debt
Parties” shall mean, at any time, (a) each Subordinated Creditor, (b) each other Person to whom any of the Subordinated Indebtedness (including indemnification obligations) is, or hereafter may become, owed or owing, and
(c) the successors and permitted assigns of each of the foregoing. 
 “Subordinated Indebtedness” means the
Indebtedness of each Credit Party owing to any Affiliate (other than another Credit Party) under the Support Agreements. 

“Support Agreements” shall have the meaning assigned to such term in the recitals hereof. 

“Uniform Commercial Code” or “UCC” shall mean the Uniform Commercial Code (or any similar or
equivalent legislation) as in effect from time to time in any applicable jurisdiction. 
 “Working Capital Agreement”
shall have the meaning assigned to such term in the recitals hereof. 

  
 5 

 1.2 Terms Generally 

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, (b) any reference herein (i) to any Person shall be construed to include such Person’s
successors and permitted assigns and (ii) to any Credit Party shall be construed to include the Credit Party as debtor and debtor-in-possession and any receiver or trustee for the Credit Party, as the case may be, in any Insolvency Proceeding,
(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 Articles or Sections shall be construed to refer to Articles or Sections of this Agreement, unless noted otherwise, (e) 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 (f) all references to the Senior Lenders include the Administrative Agent, each L/C Issuer and each of the Lenders
individually and any combination thereof. 
 1.3 Headings 

The division of this Agreement into articles, sections, paragraphs and other subdivisions and the insertion of headings are for convenience of
reference only and shall not affect the construction or interpretation hereof. 
 1.4 Governing Law 

This Agreement shall be governed by, and interpreted and construed in accordance with, the laws of the State of New York. The Subordinated Debt
Parties irrevocably submit to the non-exclusive jurisdiction of the courts of the State of New York and the United States Federal courts sitting in Southern District of the State of New York, without prejudice to the rights of the Senior Lenders to
take proceedings in any other jurisdiction. 
 1.5 Severability 

If any provision of this Agreement shall be invalid, illegal or unenforceable in any respect in any jurisdiction, it shall not affect the
validity, legality or enforceability of such provision in any other jurisdiction or the validity, legality or enforceability of any other provision of this Agreement. 

1.6 Time of the Essence 

Time shall be of the essence of this Agreement. 

  
 6 

 Article 2 

POSTPONEMENT AND SUBORDINATION OF PAYMENT 

2.1 General Postponement and Subordination 

Except that Subordinated Creditor may receive and retain Permitted Payments solely to the extent expressly permitted under
Section 7.1 below, until the Discharge of Senior Indebtedness: 
  

	 	a.	each Subordinated Debt Party’s right to payment of the Subordinated Indebtedness is hereby irrevocably made subject to and subordinate and junior in right of payment to all of the Senior Lenders’ right to
payment of the Senior Indebtedness; 

  

	 	b.	the Subordinated Indebtedness shall be and is hereby irrevocably expressly postponed and made subordinate in right of payment to the prior payment in full in cash of the Senior Indebtedness and the Discharge of Senior
Indebtedness; 

  

	 	c.	no Credit Party shall make or give, and no Subordinated Debt Party shall accept, any payment, transfer or other thing of value, on account of the Subordinated Indebtedness; 

 

	 	d.	no Subordinated Debt Party shall accept any repayment, prepayment or other satisfaction of all or any portion of the Subordinated Indebtedness (whether in cash, debt securities, Equity Interests, obligations, or other
property); and 

  

	 	e.	any payment or distribution of any kind or character, whether in cash, debt securities, Equity Interests, obligations, or other property and whether or not such payment or distribution is Collateral, proceeds of
Collateral, or on account of Collateral, which may be payable or deliverable in respect of the Subordinated Indebtedness, or any Lien on Collateral, shall be paid or delivered directly to the Administrative Agent for application in payment of the
Senior Indebtedness, and any such payments or distributions received by or distributed to any Subordinated Debt Party shall be turned over to the Administrative Agent for application in payment of the Senior Indebtedness. 

2.2 Priority of Senior Indebtedness on Dissolution or Insolvency 

 

	 	a.	Notwithstanding anything contained herein to the contrary, in the event of an Insolvency Proceeding or other similar proceeding (a “Proceeding”) relating to a Credit Party, or any of its property
(whether voluntary or involuntary, partial or complete), or any other marshaling of the assets and liabilities of a Credit Party, the Senior Indebtedness shall first be paid in full and a Discharge of Senior Indebtedness must have occurred before
any Subordinated Debt Party shall be entitled to receive or retain any payment or distribution, whether in cash, debt securities, Equity Interests, obligations, or other property, and whether or not such payment or distribution is Collateral,
proceeds of Collateral, or made on account of Collateral, which may be payable or deliverable in respect of the Subordinated Indebtedness or any Lien on Collateral, in each case whether under a Plan of Reorganization or otherwise. 

  
 7 

	 	b.	Until the Discharge of Senior Indebtedness, any payment or distribution of any kind or character, whether in cash, debt securities, Equity Interests, obligations, or other property, and whether or not such payment or
distribution is Collateral, proceeds of Collateral, or made on account of Collateral, which may be payable or deliverable in respect of the Subordinated Indebtedness or any Lien on Collateral, in each case whether under a Plan of Reorganization or
otherwise, shall be paid or delivered directly to the Administrative Agent for application in payment of the Senior Indebtedness, and any such payments or distributions received by or distributed to any Subordinated Debt Party shall be turned over
to the Administrative Agent for application in payment of the Senior Indebtedness. 

 Article 3 

PRIORITY OF LIENS; LIEN SUBORDINATION 

3.1 No Liens Prohibited by Credit Agreement; No Liens Securing Subordinated Indebtedness Prior to Springing Lien Trigger Event 

 

	 	a.	So long as the Discharge of Senior Indebtedness has not occurred, none of the Obligors or other Credit Parties shall, or shall permit any of its or their Subsidiaries to, grant or permit, and (1) no Subordinated
Debt Party shall accept or pursue, any Liens on any asset or property prohibited by or in violation of the Credit Agreement, to secure or facilitate the payment or collection of any Subordinated Indebtedness, and (2) no Senior Lender shall
accept or pursue any Liens on any asset or property to secure or facilitate the payment or collection of any Senior Indebtedness without the Senior Lenders permitting the Subordinated Indebtedness to be secured thereby, with each such Lien to be
subject to the provisions of this Agreement in all respects, including without limitation, the lien subordination and payment over provisions contained herein. 

  

	 	b.	So long as the Discharge of Senior Indebtedness has not occurred, none of the Obligors or other Credit Parties shall, or shall permit any of its or their Subsidiaries to, grant or permit, and no Subordinated Debt Party
shall accept or pursue, any Liens on any asset or property which would constitute Collateral, to secure or facilitate the payment or collection of any Subordinated Indebtedness, unless (i) it first has granted, or concurrently therewith
grants, a senior, first-priority Lien on such asset or property to secure the Senior Indebtedness and (ii) such Liens are expressly authorized under a Support Agreement and the Credit Agreement upon the occurrence of a Springing Lien
Trigger Event, with each such Lien to be subject to the provisions of this Agreement in all respects, including without limitation, the lien subordination and payment over provisions contained herein. 

 

	 	c.	 To the extent that the provisions of Sections 3.1(a) and (b) are not complied with for any reason, without limiting any other right
or remedy available to the Administrative Agent or the other Senior Lenders or any Subordinated Debt Party, as the case may be, (A) if it has not already done so, each applicable Obligor or other Credit Party, or related Subsidiary, shall
immediately grant a senior, first-priority Lien on such asset or property to secure the Senior Indebtedness or a junior, second-priority Lien on such asset or property to secure the Subordinated Indebtedness (in all respects subject to the terms of
this 

  
 8 

	 	
Agreement), or both, as the case may be, and (B) each Subordinated Debt Party: (i) agrees to subordinate all such Liens, if any, securing the Subordinated Indebtedness, whether now
existing or hereafter arising (the “Impermissible Subordinated Debt Liens”) to all Liens securing any Senior Indebtedness, whether now existing or hereafter arising, regardless of the time, manner or order of perfection of
any such Impermissible Subordinated Debt Liens, and notwithstanding any failure of the Administrative Agent or the Senior Lenders to adequately perfect its or their Liens securing any Senior Indebtedness, the subordination of any Lien securing any
Senior Indebtedness to any Lien securing any other obligation of any Credit Party, or the avoidance, invalidation or lapse of any Lien securing any Senior Indebtedness; (ii) agrees to take no action to enforce any Impermissible Subordinated
Debt Liens; (iii) agrees to execute such terminations, releases and other documents as Administrative Agent requests in its sole discretion to release the Impermissible Subordinated Debt Liens or to assign the Impermissible Subordinated Debt
Liens to Administrative Agent, in Administrative Agent’s sole discretion, provided that contemporaneously therewith, the Senior Lenders, upon receiving a first-priority Lien on such asset or property to secure the Senior Indebtedness as
required under clause (A) above, permit a junior, second-priority Lien on such asset or property to be granted to secure the Subordinated Indebtedness (in all respects subject to the terms of this Agreement), (iv) in furtherance of the
foregoing, hereby irrevocably appoints Administrative Agent its attorney-in-fact, with full authority in the place and stead of each Subordinated Debt Party to execute and deliver any document or instrument which Subordinated Debt Party may be
required to deliver pursuant to this Section 3.1; (v) agrees that no Subordinated Debt Party shall have any right to possession of any assets or property encumbered by or subject to the Impermissible Subordinated Debt Liens, whether
by judicial action or otherwise; and (vi) agrees that, so long as the Discharge of Senior Indebtedness has not occurred, any payment or distribution of any kind or character, whether in cash, debt securities, Equity Interests, obligations, or
other property, and whether or not such payment or distribution is collateral, proceeds of collateral, or on account of collateral, whether under a Plan of Reorganization or otherwise, received by or distributed to any Subordinated Debt Party as a
result of such Impermissible Subordinated Debt Lien shall be turned over to the Administrative Agent for application in payment of the Senior Indebtedness. 

3.2 Relative Priorities 
  

	 	a.	 Notwithstanding the date, manner or order of grant, attachment or perfection of any Lien on the Collateral securing Senior Indebtedness, on one hand,
or any Lien on the Collateral securing Subordinated Indebtedness (including any Liens on assets or property prohibited by or in violation of the Credit Agreement), on the other hand, and notwithstanding any provision of the UCC or any other
applicable law or the provisions of any security document or any other Loan Document or any other circumstance whatsoever, and notwithstanding any failure of the Administrative Agent or the Senior Lenders to adequately perfect its or their Liens in
the Collateral, the subordination of any Lien on the Collateral securing any Senior Indebtedness to any Lien securing any other obligation of any Credit Party, or the avoidance, invalidation or lapse of any Lien on the Collateral securing any Senior
Indebtedness, each Subordinated Debt Party hereby agrees that, so long as the Discharge of Senior Indebtedness has not 

  
 9 

	 	
occurred, (a) any such Lien now or hereafter held by or for the benefit of any Senior Lender which now or hereafter secures Senior Indebtedness shall be senior in right, priority, operation,
effect and all other respects to any and all such Liens now or hereafter held by or for the benefit of any Subordinated Debt Party which now or hereafter secure Subordinated Indebtedness, (b) any such Lien now or hereafter held by or for the
benefit of any Subordinated Debt Party shall be junior and subordinate in right, priority, operation, effect and all other respects to any and all such Liens now or hereafter held by or for the benefit of any Senior Lender which now or hereafter
secures Senior Indebtedness, and (c) any and all such Liens now or hereafter held by or for the benefit of any Senior Lender which now or hereafter secure Senior Indebtedness shall be and remain senior in right, priority, operation, effect and
all other respects to any and all such Liens now or hereafter held by or for the benefit of any Subordinated Debt Party which now or hereafter secures Subordinated Indebtedness for all purposes, whether or not any such Liens are subordinated in any
respect to any other Lien securing any other obligation of the Obligor, any other Credit Party or any other Person. 

  

	 	b.	Each Subordinated Debt Party acknowledges that a portion of the Senior Indebtedness represents debt that is revolving in nature and that the amount thereof that may be outstanding at any time or from time to time may be
increased or reduced and subsequently reborrowed, and that the terms of the Senior Indebtedness may be modified, extended or amended from time to time, and that the aggregate amount of the Senior Indebtedness may be increased, replaced or
refinanced, in each event, without notice to or consent by any Subordinated Debt Party and without affecting the provisions hereof. The lien priorities provided in this Section shall not be altered or otherwise affected by any such amendment,
modification, supplement, extension, repayment, reborrowing, increase, replacement, renewal, restatement or refinancing of either the Senior Indebtedness or the Subordinated Indebtedness, or any portion thereof. 

3.3 Bailment for Perfection of Certain Security Interests 

Each Subordinated Debt Party agrees that if it shall at any time hold a Lien on any Collateral that can be perfected by the possession or
control of such Collateral or of any account in which such Collateral is held, and if such Collateral or any such account is in fact in the possession or under the control of the Subordinated Debt Party or any of their respective agents or bailees
(such Collateral being referred to herein as the “Other Pledged or Controlled Collateral”), such Subordinated Debt Party solely for the purpose of perfecting the Senior Lenders’ Lien granted under the Loan Documents,
also holds such Other Pledged or Controlled Collateral as bailee for the Administrative Agent and the other Senior Lenders. No Subordinated Debt Party shall charge the Administrative Agent or Senior Lenders a fee for holding such Collateral as
bailee pursuant hereto. 
 3.4 Certain Agreements with Respect to Unenforceable Liens 

Notwithstanding anything to the contrary contained herein, if in any Insolvency Proceeding a determination is made that any Lien held by a
Senior Lender encumbering, or purporting to encumber, any Collateral is not valid or enforceable for any reason, or is avoided or avoidable under a Bankruptcy Law, then each Subordinated Debt Party agrees that, any distribution or recovery it may
receive with respect to, or allocable to, the value of the assets intended to constitute such Collateral or any proceeds thereof shall (for so long as the Discharge of Senior Indebtedness has not occurred) be segregated and held in trust and
forthwith paid over to the Administrative Agent for the benefit of the Senior Lenders in 

  
 10 

 the same form as received. Until the Discharge of Senior Indebtedness occurs, each Subordinated Debt Party hereby
appoints the Administrative Agent, and any officer or agent of the Administrative Agent, with full power of substitution, the attorney-in-fact of each Subordinated Debt Party for the limited purpose of carrying out the provisions of this
Section 3.4 and taking any action and executing any instrument that the Administrative Agent may deem necessary or advisable to accomplish the purposes of this Section 3.4, which appointment is irrevocable and coupled with an
interest. 
 Article 4 

ENFORCEMENT OF RIGHTS AND REMEDIES 

4.1 Exercise of Rights and Remedies. 
  

	 	a.	So long as the Discharge of Senior Indebtedness has not occurred, whether or not any Insolvency Proceeding has been commenced or is pending, the Administrative Agent and the other Senior Lenders shall have the exclusive
right to enforce all rights and to exercise all remedies (including any right of setoff or recoupment), whether at law or in equity, against the Credit Parties and the Collateral (including making determinations regarding the release, Disposition or
restrictions with respect to the Collateral), or to commence or seek to commence any action or proceeding with respect to such rights or remedies (including any foreclosure action or proceeding or any Insolvency Proceeding), in each case, without
any consultation with or the consent of any Subordinated Debt Party, provided, however, a Subordinated Debt Party may exercise rights against the Credit Parties solely to the extent expressly permitted under
Section 4.1(b)(i) and (ii) below. 

  

	 	b.	So long as the Discharge of Senior Indebtedness has not occurred, whether or not any Insolvency Proceeding has been commenced or is pending, no Subordinated Debt Party shall have any right to enforce any rights and to
exercise any remedies (including any right of setoff or recoupment), whether at law or in equity, against Credit Parties and the Collateral (including making determinations regarding the release, Disposition or restrictions with respect to the
Collateral), or to commence or seek to commence any action or proceeding with respect to such rights or remedies (including any foreclosure action or proceeding or any Insolvency Proceeding), except (i) that a Subordinated Debt Party may
(A) file any responsive or defensive pleadings in opposition to any motion, claim, adversary proceeding or other pleading made by any Person objecting to or otherwise seeking the disallowance of the claims of a Subordinated Debt Party, in each
case, to the extent not in contravention of the terms of this Agreement, and (B) enforce rights and exercise remedies (other than initiating, or supporting any other Person (other than Administrative Agent) in initiating, an Insolvency
Proceeding) against a Credit Party (but not against Collateral) at any time during which such Subordinated Debt Party is permitted to receive and retain Permitted Payments under Section 7.1 below, and (ii) as otherwise provided in
Section 5.4 hereof. 

  
 11 

 4.2 No Waiver by Senior Lenders 

Nothing contained herein shall prohibit or in any way limit the Administrative Agent or any other Senior Lender from opposing, challenging or
objecting to, in any Insolvency Proceeding or otherwise, any action taken, or any claim made, by a Subordinated Debt Party. 
 4.3
Automatic Release of Subordinated Liens. 
  

	 	a.	If, (i) in connection with any Disposition of any Collateral permitted under the terms of the Loan Documents, or (ii) as required under Section 6.13(b) of the Credit Agreement upon the occurrence
of the Collateral Release Date (as defined in the Credit Agreement), or (iii) in connection with the enforcement or exercise of any rights or remedies with respect to the Collateral, including any Disposition of Collateral, (1) the
Administrative Agent, for itself and on behalf of the other Senior Lenders, releases the Liens on such Collateral securing Senior Indebtedness or (2) such Liens securing the Senior Indebtedness are otherwise released as permitted by the Loan
Documents, (in each case, a “Release”), other than any such Release granted following the Discharge of Senior Indebtedness, then the Liens on such Collateral securing Subordinated Indebtedness shall be automatically,
unconditionally and simultaneously released, and each Subordinated Debt Party shall promptly execute and deliver to the Administrative Agent, the relevant Obligor or grantor such termination statements, releases and other documents as the
Administrative Agent or the relevant Obligor or grantor may reasonably request to effectively confirm such Release. 

  

	 	b.	Until the Discharge of Senior Indebtedness occurs, each Subordinated Debt Party hereby appoints the Administrative Agent, and any officer or agent of the Administrative Agent, with full power of substitution, as the
attorney-in-fact of each Subordinated Debt Party for the purpose of carrying out the provisions of this Section 4.3 and taking any action and executing any instrument that the Administrative Agent may deem necessary or advisable to
accomplish the purposes of this Section 4.3 (including any endorsements or other instruments of transfer or release), which appointment is irrevocable and coupled with an interest. 

4.4 Insurance and Condemnation Awards 

So long as the Discharge of Senior Indebtedness has not occurred, the Administrative Agent and the other Senior Lenders shall have the
exclusive right, subject to the rights of the Obligors under the Loan Documents, to settle and adjust claims in respect of Collateral under policies of insurance covering Collateral and to approve any award granted in any condemnation or similar
proceeding, or any deed in lieu of condemnation, in respect of the Collateral. All proceeds of any such policy and any such award, or any payments with respect to a deed in lieu of condemnation, shall, prior to the Discharge of Senior Indebtedness
and subject to the rights of the Obligors under the Loan Documents, be paid to the Administrative Agent for the benefit of Senior Lenders pursuant to the terms of the Loan Documents and, subject to the rights of Obligors under the Loan Documents, as
proceeds of Collateral. Until the Discharge of Senior Indebtedness has occurred, if a Subordinated Debt Party shall, at any time, receive any proceeds of any such insurance policy or any such award or payment, it shall transfer and pay over such
proceeds to the Administrative Agent in accordance with Section 6.01. 

  
 12 

 Article 5 

NO INTERFERENCE 
 5.1
Prohibited Acts. 
 Without in any way limiting the scope of Section 4.1 above, so long as the Discharge of Senior
Indebtedness has not occurred, but subject always to the provisions of Section 11.1(a), each Subordinated Debt Party agrees, whether or not any Insolvency Proceeding or other Proceeding has been commenced or is pending, that it will not,
and hereby waives any right to: 
  

	 	a.	initiate, or support any other Person (other than Administrative Agent) in initiating, an Insolvency Proceeding; 

  

	 	b.	take, or support any other Person (other than Administrative Agent) in taking, any Enforcement Action, except that Subordinated Creditor may receive and retain Permitted Payments solely to the extent expressly permitted
under Section 7.1 below; 

  

	 	c.	contest, protest or object to (or support any other Person contesting) any foreclosure action or proceeding (including an Insolvency Proceeding) brought by the Administrative Agent or any other Senior Lender, or any
other enforcement or exercise by Administrative Agent or any other Senior Lender of any rights or remedies relating to the Senior Indebtedness and the Collateral; 

 

	 	d.	contest, protest or object to (or support any other Person contesting) the forbearance by the Administrative Agent or any other Senior Lender from commencing or pursuing any foreclosure action or proceeding or any other
enforcement or exercise of any rights or remedies with respect to the Senior Indebtedness and the Collateral; 

  

	 	e.	take or receive any Collateral, or any proceeds thereof or payment with respect thereto, in connection with the exercise of any right or enforcement of any remedy (including any right of setoff) with respect to any
Subordinated Indebtedness, any Collateral or in connection with any insurance policy award under a policy of insurance relating to any Collateral (including any mortgagee policy of insurance) or any condemnation award (or deed in lieu of
condemnation) relating to any Collateral; 

  

	 	f.	take (or support any other Person in taking) any action that would, or could reasonably be expected to, hinder, in any manner, any exercise of any rights or remedies under the Loan Documents, including any Disposition
of any Collateral, whether by foreclosure or otherwise; 

  

	 	g.	 contest, protest or object to (or support any other Person in objecting to) the manner in which the Administrative Agent or any other Senior Lender
may seek to enforce or collect the Senior Indebtedness or any Liens, regardless of whether any action or failure to act by or on behalf of the Administrative Agent or any other Senior Lender is, or could be, adverse to the interests of a
Subordinated Debt Party, and will not assert (or support any other Person in asserting), and hereby waives, to the fullest extent permitted by law, any right to demand, 

  
 13 

	 	
request, plead or otherwise assert or claim the benefit of any marshaling, appraisal, valuation or other similar right that may be available under applicable law with respect to the Collateral or
any similar rights a junior creditor may have under applicable law; 

  

	 	h.	attempt, directly or indirectly, whether by judicial proceeding or otherwise, to challenge or question (or support any other Person in challenging or questioning) the validity, priority or enforceability of any Senior
Indebtedness, the priority, perfection, validity or enforceability of any Lien on the Collateral, or the validity or enforceability of any of the Loan Documents, including this Agreement (and any automatic reinstatement thereof under
Section 11.1 below), or the validity or enforceability of the priorities, rights or obligations established by this Agreement; 

  

	 	i.	contest, protest or object to (or support any other Person contesting) any Disposition of all or any part of the Collateral, provided that the Liens of Subordinated Debt Parties attach to the net proceeds of the
Disposition with at least the same priority and validity as the Liens held by Subordinated Debt Parties on such Collateral, and the Liens remain subject to the terms of this Agreement; 

 

	 	j.	contest, protest or object to (or support any other Person contesting) any request of the Administrative Agent or the other Senior Lenders for (1) relief from the automatic stay imposed by Section 362 of the
Bankruptcy Code or (2) any request for adequate protection within the meaning of Section 361 of the Bankruptcy Code; 

  

	 	k.	contest, protest or object to (or support any other Person contesting) the payment of Post-Petition Interest, or any fees, costs, charges and expenses to the Administrative Agent or any Senior Lender under
Section 506(b) of the Bankruptcy Code; 

  

	 	l.	unless otherwise agreed by the Administrative Agent in writing, (i) file any motion, application or other pleading seeking affirmative relief, including without limitation for the appointment of a trustee or
examiner in an Insolvency Proceeding, for the conversion of the case to a liquidation proceeding, for the substantive consolidation of the Credit Party’s bankruptcy case with the case of any other entity, for the creation of a separate official
committee representing only the Subordinated Creditor or the Subordinated Debt Parties, or any other form of affirmative relief of any other kind or nature, or (ii) file any objection or other responsive pleading opposing any relief requested
by any Senior Lender or support any other Person taking any such action; 

  

	 	m.	 In any Insolvency Proceeding or other Proceeding of any Credit Party, if any Credit Party shall, as debtor(s)-in-possession, move for approval of
financing, which for avoidance of doubt, may include a roll-up of the Senior Indebtedness under the Credit Agreement (“DIP Financing”) to be provided by one or more lenders, which, for avoidance of doubt, may include the
Senior Lenders (the “DIP Lenders”), under Section 364 of the Bankruptcy Code or the use of cash collateral or the sale of property that constitutes Collateral under Section 363 of the Bankruptcy Code or pursuant to
any Plan of Reorganization, each 

  
 14 

	 	
Subordinated Creditor agrees that it will raise no objection to, nor support any Person objecting to, and shall be deemed to have consented to, any such financing or to the Liens on the
Collateral securing the same (“DIP Financing Liens”) or to any use of cash collateral or sale (whether under Section 363 of the Bankruptcy Code or pursuant to any Plan of Reorganization) of property that constitutes
Collateral (including any bid, sale procedure or other orders in respect thereof), unless Administrative Agent shall then oppose or object to such DIP Financing or such DIP Financing Liens or use of cash collateral or sale of Collateral (and each
Subordinated Debt Party will consent, and is deemed to have consented, to the subordination of its Liens with respect to such Collateral); 

  

	 	n.	provide (or support any other Person in providing) DIP Financing to any Credit Party secured by Liens equal or senior in priority to the Liens securing any Senior Indebtedness, provided, however, that if (i) the
Senior Lenders are provided reasonable advance notice and opportunity to provide DIP Financing, but no Senior Lender offers to provide such DIP Financing, or (ii) no other Person (other than a Subordinated Debt Party), after having received
reasonable advance notice and opportunity to provide DIP Financing, offers to provide DIP Financing on terms acceptable to the Senior Lenders, in each case on or before the date of any hearing to approve DIP Financing, then one or more Subordinated
Debt Parties may seek to provide DIP Financing secured by Liens equal or senior in priority to the Liens securing any Senior Indebtedness and the Senior Lenders may object to such DIP Financing; 

 

	 	o.	oppose, seek to challenge or support any Person challenging, the Senior Indebtedness, any Lien securing the Senior Indebtedness, or any request for the allowance and payment of Post-Petition Interest and post-petition
fees, costs, charges and expenses; 

  

	 	p.	seek adequate protection, within the meaning of section 361 of the Bankruptcy Code, of any interest in any Collateral, in each case without the Administrative Agent’s prior written consent, provided, however, that
if in an Insolvency Proceeding Senior Lenders are granted adequate protection in the form of a Lien on additional property as collateral, a Subordinated Debt Party holding a Lien at the time of the filing of such Insolvency Proceeding may seek or
request adequate protection in the form of a junior Lien on such additional collateral, which Lien shall automatically be subject to the terms of this Agreement in all respects, including without limitation, the payment-over provisions herein
contained, and shall be subordinated to the Liens of the Senior Lenders (including adequate protection Liens) and subordinated to any DIP Financing Liens (and all obligations relating thereto), in each case on the same basis as the Subordinated Debt
Party’s other Liens are subordinated herein; 

  

	 	q.	propose, sponsor, support, vote in favor of or agree to (i) any Non-Conforming Plan of Reorganization or (ii) any Plan of Reorganization, directly or indirectly, that is pursued pursuant to
Section 1129(b)(1) of the Bankruptcy Code; and 

  

	 	r.	seek relief from the automatic stay or any other stay in an Insolvency Proceeding or other Proceeding in respect of Collateral, a Creditor Party or its property. 

  
 15 

 5.2 Additional Agreements 

 

	 	a.	At any time prior to the Discharge of Senior Indebtedness, in any Insolvency Proceeding or other Proceeding of any Credit Party or its property: 

 

	 	i.	the Administrative Agent shall have the right, but not the obligation, to file claims and proofs of claim in respect of the Subordinated Indebtedness, vote any and all such claims in connection with any Plan of
Reorganization, and take such other action as Administrative Agent may so elect in its discretion; 

  

	 	ii.	each Subordinated Debt Party hereby grants the Administrative Agent an irrevocable proxy coupled with a pledge to vote or cause to be voted any and all claims of such Subordinated Debt Party arising in connection with
any Plan of Reorganization; 

  

	 	iii.	unless Administrative Agent has invoked its rights under this Section 5.2 to file claims or proofs of claims on account of the Subordinated Indebtedness in an Insolvency Proceeding or other Proceeding, each
Subordinated Debt Party shall timely file a claim or proof of claim or claims or proofs of claim, each in the form required in such Proceedings, for the full outstanding amount of the Subordinated Indebtedness; 

 

	 	iv.	each Subordinated Debt Party shall cause said claim or proofs of claim, whether filed by such Subordinated Debt Party or the Administrative Agent, to be approved and all payments and other distributions in respect
thereof to be made directly to the Administrative Agent; and 

  

	 	v.	Each of the Subordinated Debt Parties agrees that it will support, vote in favor of and agree to any Plan of Reorganization proposed or supported by the Senior Lenders. 

 

	 	b.	Each Subordinated Debt Party shall execute and deliver to the Administrative Agent such further proofs of claim, assignments of claim and other instruments confirming the authorization referred to in the foregoing
clause (a), and any powers of attorney confirming the rights of the Senior Lenders arising thereunder, and shall take such other actions as may be requested by the Senior Lenders or their representative in order to enable the Senior Lenders or their
representative to enforce any and all claims in respect of the Subordinated Indebtedness at any time prior to the Discharge of Senior Indebtedness. 

  

	 	c.	Each Subordinated Debt Party hereby irrevocably agrees that the Administrative Agent may, at its sole discretion, in the name of each such Subordinated Debt Party or otherwise, demand, sue for, collect, receive and
receipt for any and all such payments or distributions, and any such receipts shall be distributed to the Administrative Agent for application to the Senior Indebtedness, and file, prove and vote or consent in any Proceeding with respect to any and
all claims of each of the Subordinated Debt Parties relating to the Subordinated Indebtedness at any time prior to the Discharge of Senior Indebtedness. 

  
 16 

 5.3 Certain Additional Waivers by Subordinated Debt Parties 

Each Subordinated Debt Party waives any claim it or they may hereafter have against any Senior Lender arising out of any action taken or not
taken by Administrative Agent or the other Senior Lenders in an Insolvency Proceeding, including without limitation, (a) the election by any Senior Lender of the application of Section 1111(b)(2) of the Bankruptcy Code, or any
comparable provision of any other Bankruptcy Law, or (b) any use of cash collateral or DIP Financing authorized in any Insolvency Proceeding or other Proceeding, or (c) any grant of a security interest, any payment, or award of adequate
protection within the meaning of section 361 of the Bankruptcy Code, in any Insolvency Proceeding, or (d) any sale or other Disposition of Collateral or in connection with any Plan of Reorganization. In addition, no Subordinated Debt Party
shall assert or enforce, at any time prior to the Discharge of Senior Indebtedness, any claim under Section 506(c) of the Bankruptcy Code. 

5.4 Permitted Actions 

Notwithstanding anything in this Agreement to the contrary, no provision of this Agreement shall prohibit, limit, or restrict the Subordinated
Debt Parties from taking any of the following actions: (a) any action to the extent necessary to (i) prevent the running of any applicable statute of limitations or similar restriction on claims, provided that no such action shall be filed
sooner than 90 days before the expiration of any such applicable statute of limitations or similar restriction on claims, or (ii) assert a compulsory cross claim or counterclaim against any Obligor, and (b) any action to seek and obtain
specific performance or injunctive relief to compel an Obligor to comply with (or not violate or breach) any nonpayment obligation under any Support Agreement, so long as it is (x) not accompanied by a claim for monetary damages or a request
for payment of any portion of the Subordinated Indebtedness, (y) not an Enforcement Action, and (z) does not seek to initiate an Insolvency Proceeding; provided further, in the case of (a) or (b), such permitted actions shall be
subject to and not in contravention of the terms of this Agreement, including the payment over provisions contained herein. 
 Article 6 

ADDITIONAL PAYMENT PROVISIONS; PAYMENT OVER 

6.1 Payment Over 
 So long
as the Discharge of Senior Indebtedness has not occurred, any payment or distribution of any kind or character, whether in cash, debt securities, Equity Interests, obligations, or other property, and whether or not such payment or distribution is
Collateral, proceeds of Collateral, or on account of Collateral, in each case whether or not under a Plan of Reorganization or otherwise, together with the property referred to in Section 2.1(e), Section 2.2,
Section 3.1(c) and Section 4.4, received by a Subordinated Debt Party in respect of the Subordinated Indebtedness, in each case other than Permitted Payments under Section 7.1, shall be segregated and held in trust
and forthwith transferred or paid over to the Administrative Agent for the benefit of the Senior Lenders in the same form as received, together with any necessary endorsements for application (in accordance with the Loan Documents) to the payment of
the Senior Indebtedness then remaining unpaid. Until the Discharge of Senior Indebtedness occurs, the Subordinated Creditor (a) agrees to reimburse Administrative Agent for all reasonable costs, including reasonable attorneys’ fees,
incurred by Administrative Agent in the course of collecting said sums should a Subordinated Debt Party fail to voluntarily turn the same over to the Administrative Agent upon demand, and (b) hereby appoints the Administrative Agent, and any
officer or agent of the Administrative Agent, with full power of substitution, the attorney-in-fact of each Subordinated Debt Party for the purpose of carrying out the provisions of this Section 6.1 and taking any action and executing
any instrument that the Administrative Agent may deem necessary or advisable to accomplish the purposes of this Section 6.1, which appointment is irrevocable and coupled with an interest. 

  
 17 

 6.2 Application of Payments 

All payments and distributions received by the Administrative Agent or the Senior Lenders in respect of the Subordinated Indebtedness (other
than Permitted Payments), to the extent received in or converted into cash, may be applied by the Senior Lenders first to the payment of any and all reasonable expenses (including reasonable legal fees and expenses) paid or incurred by the
Administrative Agent in enforcing this Agreement, or in endeavoring to collect or realize upon any of the Subordinated Indebtedness or any Collateral, in each case as provided herein, and any balance thereof shall, solely as between the Subordinated
Debt Parties and the Senior Lenders, be applied by the Senior Lenders in such order of application as the Senior Lenders may from time to time elect, toward the payment of the Senior Indebtedness remaining unpaid. 

6.3 Payment in Full on Senior Indebtedness 

For purposes of this Agreement, the Senior Indebtedness shall not be deemed to have been paid in full until the Discharge of Senior
Indebtedness shall have occurred. 
 6.4 Legend on Subordinated Debt Instruments 

The Subordinated Creditors shall, substantially simultaneously with the execution and delivery hereof, cause a conspicuous legend to be placed
on each of the instruments evidencing Subordinated Indebtedness to the following effect: 
 “This instrument, the indebtedness
evidenced hereby or any lien or security interest on Collateral securing such indebtedness, is subordinated, in the manner and to the extent set forth in an agreement dated
                     ,             (as such agreement may from time to time be amended,
restated, modified, or supplemented, the “Subordination Agreement”), by the maker and payee of this instrument in favor of Bank of America, N.A. as Administrative Agent for the “Lenders” referred to
therein, to all Senior Indebtedness as defined therein), and each holder of this instrument, by its acceptance hereof, shall be bound by the Subordination Agreement.” 

and upon request by the Administrative Agent deliver a copy of each of the instruments evidencing Subordinated Debt, as so marked, to the Administrative Agent
within 60 days following such request. In the event of any conflict between any instrument evidencing Subordinated Indebtedness and the terms of this Agreement, the terms of this Agreement shall control. 

Article 7 
 PERMITTED PAYMENTS

 7.1 Permitted Payments 

At any time other than during the continuation of a Default or Event of Default, and subject to the other conditions contained in
Section 7.13 of the Credit Agreement, each Subordinated Debt Party shall be entitled to receive and retain payments (“Permitted Payments”) on account of any Subordinated Indebtedness in accordance with the terms
of such Subordinated Indebtedness. 

  
 18 

 Article 8 

SUBROGATION 
 8.1 Right
of Subrogation and Related Restrictions 
 If a Subordinated Debt Party pays or distributes cash, property, or other assets to the
Administrative Agent for the benefit of the Senior Lenders, the Subordinated Debt Party will be subrogated to the rights of the Administrative Agent and Senior Lenders with respect to the value of the payment or distribution; provided, however, the
Subordinated Debt Party shall not exercise any rights which it may acquire by way of subrogation or contribution under this Agreement, as a result of any payment made hereunder or otherwise, until this Agreement has ceased to be effective in
accordance with Section 11.1(a). 
 8.2 Transfer by Subrogation 

If (a) the Administrative Agent on behalf of the Senior Lenders receives payment of any of the Subordinated Indebtedness and (b) the
Discharge of Senior Indebtedness has occurred, then the Senior Lenders will each, at the Subordinated Creditor’s request and expense, execute and deliver to the Subordinated Creditor appropriate documents, without recourse and without
representation or warranty (except as to their right to transfer such Senior Indebtedness and related security free of encumbrances created by the Senior Lenders), necessary to evidence the transfer by subrogation to the Subordinated Creditor of an
interest in its Senior Indebtedness and any security held therefor resulting from such payment of the Subordinated Indebtedness to the Administrative Agent. 

Article 9 
 DEALINGS WITH
BORROWER 
 9.1 Restricted Dealings by Subordinated Creditor 

Except with the prior written consent of the Administrative Agent with the consent of the Required Lenders, no Subordinated Debt Party shall:

  

	 	a.	assign all or any portion of the Subordinated Indebtedness in favor of any Person other than the Senior Lenders unless such Person has agreed in writing with the Administrative Agent to be bound by the provisions hereof
in the place and stead of the Subordinated Creditor; or 

  

	 	b.	commence, or join with any other Person in commencing, any Proceeding respecting any Obligor, any Subsidiary of an Obligor or any other Credit Party. 

9.2 Permitted Dealings by Senior Lenders 

Notwithstanding anything in this Agreement, each Subordinated Debt Party acknowledges and agrees each of the Senior Lenders shall be entitled
to: 
  

	 	a.	lend monies or otherwise extend credit or accommodations to any Obligor or other Credit Party as part of the Senior Indebtedness or otherwise; provided, however, that loans, credit, or accommodations not
constituting Senior Indebtedness are not entitled to the benefits of this Agreement; 

  
 19 

	 	b.	agree to any change in, amendment to, waiver of, or departure from, any term of the Credit Agreement or any other Loan Document including, without limitation, any amendment, renewal or extension of such agreement or
increase in the payment obligations of the Obligor or other Credit Party under any such Loan Documents; 

  

	 	c.	grant time, renewals, extensions, releases, discharges or other indulgences or forbearances to any Obligor or other Credit Party in respect of the Senior Indebtedness; 

 

	 	d.	waive timely and strict compliance with or refrain from exercising any rights under or relating to the Senior Indebtedness; 

  

	 	e.	accept or make any compositions, arrangements, plans of reorganization or compromises with any Person as any of the Senior Lenders may deem appropriate in connection with the Senior Indebtedness; 

 

	 	f.	change, whether by addition, substitution, removal, succession, assignment, grant of participation, transfer or otherwise, any of the Senior Lenders; 

 

	 	g.	acquire, give up, vary, exchange, release, discharge or otherwise deal with or fail to deal with any security interests, guaranties or collateral relating to any Senior Indebtedness, this Agreement or any Loan Document
or allow any Obligor, other Credit Party, or any other Person to deal with the property which is subject to such security interests, guaranties or collateral, all as the Senior Lenders may deem appropriate; and/or 

 

	 	h.	abstain from taking, protecting, securing, registering, filing, recording, renewing, perfecting, insuring or realizing upon any security interests, guaranties or collateral for any Senior Indebtedness; and no loss in
respect of any of the security interests or guaranties received or held for and on behalf of the Senior Lenders, whether occasioned by fault, omission of negligence of any kind, whether of the Senior Lenders or otherwise, shall in any way limit or
impair the liability of a Subordinated Debt Party or the rights of the Senior Lenders under this Agreement; 

 all of which may be done
without notice to or consent of a Subordinated Debt Party and without impairing, releasing or otherwise affecting any rights or obligations of any Subordinated Debt Party hereunder or any rights of the Senior Lenders hereunder. 

Article 10 
 REPRESENTATIONS
AND WARRANTIES 
 10.1 Representations and Warranties 

Each Subordinated Creditor hereby represents and warrants to the Senior Lenders that: 

 

	 	a.	such Subordinated Creditor is duly incorporated, formed or amalgamated, as the case may be, and validly existing under the laws of its jurisdiction of incorporation, formation, or amalgamation, as the case may be;

  
 20 

	 	b.	such Subordinated Creditor has all necessary corporate or equivalent power and authority to enter into this Agreement; 

  

	 	c.	such Subordinated Creditor has taken all necessary corporate or equivalent action to authorize the creation, execution, delivery and performance of this Agreement; 

 

	 	d.	this Agreement constitutes a valid and legally binding obligation of such Subordinated Creditor, enforceable against such Subordinated Creditor in accordance with its terms, subject as to enforcement to bankruptcy,
insolvency, reorganization, moratorium and similar laws of general applicability relating to or affecting creditors’ rights and general equity principles; and 

 

	 	e.	neither the execution and delivery of this Agreement, nor compliance with the terms and conditions hereof (i) will result in a violation of any formation or governance documents of such Subordinated Creditor or any
applicable law, order, judgment, injunction, award or decree; (ii) will result in a breach of, or constitute a default under, any loan agreement, indenture, trust deed or any other material agreement or instrument to which such Subordinated
Creditor is a party or by which it or its assets are bound; or (iii) requires any approval or consent of any governmental authority having jurisdiction except such as has already been obtained and is in full force and effect. 

Article 11 
 CONTINUING
SUBORDINATION 
 11.1 Continuing Subordination; Reinstatement 

This Agreement shall create a continuing subordination and shall: 
  

	 	a.	remain in full force and effect until the earlier of: (i) the Discharge of Senior Indebtedness has occurred, or (ii) 366 days after the Discharge of Subordinated Indebtedness has occurred;
provided, however, that if an Insolvency Proceeding is initiated on or before the date that is 366 days after the Discharge of Subordinated Indebtedness has occurred, this Agreement shall remain in full force and effect until the
Discharge of Senior Indebtedness has occurred and, provided, further, that Section 9.1(b) shall remain in effect until 91 days after such time; 

 

	 	b.	be binding upon each Subordinated Debt Party and its successors and assigns; and 

  

	 	c.	inure, together with the rights and remedies of the Senior Lenders, to the benefit of and be enforceable by the Senior Lenders (through the Administrative Agent), and their successors and permitted assigns for their
benefit and for the benefit of any other Person entitled to the benefit of any Loan Documents from time to time, including any permitted assignee of some or all of the Loan Documents. 

Each Subordinated Debt Party agrees that, following termination hereof, this Subordination Agreement shall be automatically reinstated if for any reason any
payment or transfer made on account of the Senior Indebtedness or Subordinated Indebtedness, as the case may be, is rescinded, avoided or must be otherwise restored or returned by any Senior Lender or Subordinated Debt Party, as the case may be,
whether as a result of any Insolvency Proceedings in bankruptcy or reorganization or otherwise, in each case retroactive to the date of such payment or transfer. 

  
 21 

 11.2 Other Obligations not Affected 

The subordination provided for herein is in addition to and not in substitution for any other agreement or any other security by whomsoever
given or at any time held by any of the Senior Lenders in respect of the Senior Indebtedness, and the Senior Lenders shall at all times have the right to proceed against or realize upon all or any portion of any other agreement or any security or
any other monies or assets to which the Senior Lenders may become entitled or have a claim in such order and in such manner as the Senior Lenders in their sole discretion may deem appropriate. 

11.3 Acknowledgment of Documentation 

The Subordinated Creditor hereby acknowledges that it is familiar with and understands the terms of the Credit Agreement and all other Loan
Documents. The Subordinated Creditor agrees and confirms that the Subordinated Indebtedness constitutes “Qualifying Subordinated Indebtedness” under the Credit Agreement under clause (b) of the definition thereof. The Subordinated
Creditor shall ensure that the Obligor provides such copies as the Subordinated Creditor wishes to receive of all amendments, modifications or supplements to any of the aforementioned documents and of any other documents, instruments or agreements
which are executed in the future pursuant to which Senior Indebtedness may arise. None of the Senior Lenders shall in any manner have any obligation to ensure such receipt nor shall lack of receipt in any way affect the absolute and unconditional
nature of the Subordinated Debt Parties’ obligations hereunder in respect of the Senior Indebtedness thereby created or arising. 

Article 12 
 NO LIABILITY;
OBLIGATIONS ABSOLUTE 
 12.1 Information 

Neither Administrative Agent nor any Senior Lender shall have any duty to disclose to any Subordinated Debt Party any information relating to
any Credit Party or any of their Subsidiaries, or any other circumstance bearing upon the risk of nonpayment of any of the Senior Indebtedness or the Subordinated Indebtedness, as the case may be, that is known or becomes known to any of them or any
of their Affiliates. 
 12.2 No Warranties or Liability. 
  

	 	a.	Each Subordinated Creditor acknowledges and agrees that neither Administrative Agent nor any other Senior Lender has made any express or implied representation or warranty of any kind and no Senior Lender shall have any
express or implied duty to any Subordinated Debt Party. 

  

	 	b.	Each Subordinated Debt Party agrees that no Senior Lender shall have any liability to any Subordinated Debt Party, and hereby waives any claim against any Senior Lender, arising out of any and all actions which the
Administrative Agent or the other Senior Lenders may take or permit or omit to take with respect to (i) the Loan Documents, (ii) the collection of the Senior Indebtedness, (iii) any Lien securing the Senior Indebtedness, or
(iv) the maintenance of, the preservation of, the foreclosure upon or the Disposition of any Collateral, regardless of whether an Insolvency Proceeding has been commenced. 

  
 22 

 12.3 Rights of Administrative Agent and Senior Lenders Not Affected 

All rights and interests of the Administrative Agent and the other Senior Lenders under this Agreement, and all agreements and obligations of
the Subordinated Debt Parties, and the Credit Parties under this Agreement, shall remain in full force and effect irrespective of: (a) any lack of collectability, validity or enforceability of all or any portion of this Agreement, the Senior
Indebtedness or any of the Loan Documents due to incapacity, lack of power of authority, discharge or for any reason whatsoever (other than a Discharge of Senior Indebtedness); (b) any change in the amount of interest accruing on, time, manner
or place of payment of, or in any other terms or conditions of, all or any of the Senior Indebtedness, or any other amendment or waiver of, or any consent to departure from, any of the Loan Documents, including, without limitation, changes in the
terms of disbursement or repayment of any loan proceeds, any modifications, increases, extensions, renewals, rearrangements, restatements, acceleration, settlement or compromise of the Senior Indebtedness or the advancement of additional funds by
the Administrative Agent and the other Senior Lenders in their discretion; (c) the timing, manner and order of application of any payments and credits made by the Administrative Agent and the other Senior Lenders on the Senior Indebtedness;
(d) the Administrative Agent and the other Senior Lenders’ forbearance or agreement to forbear from enforcing any right or remedy related to the Senior Indebtedness, including rights and remedies against any obligor on the Senior
Indebtedness; (e) any exchange of Collateral, release or non-perfection of any Lien, subordination of any Lien, or any release of any obligor on the Senior Indebtedness or any release, amendment or waiver of, or consent to departure from or
indulgence with respect to, any Loan Documents, for all or any of the Senior Indebtedness; (f) any future law, regulation, or order of any governmental authority (whether of right or in fact) purporting to affect any term or provision of the
Senior Indebtedness or the Loan Documents; (g) any setoff, defense or counterclaim whatsoever (in any case, whether based on contract, tort or any other theory) or any other circumstance in respect of this Agreement, the Senior Indebtedness or
any Loan Documents that might otherwise constitute a defense available to the Subordinated Creditor, the Subordinated Debt Parties, any Credit Party or any other obligor of the Senior Indebtedness, or a discharge of the Senior Indebtedness, any
Credit Party or any Senior Indebtedness (other than a Discharge of Senior Indebtedness); or (h) any action taken or refrained from taking by the Administrative Agent and the other Senior Lenders regarding the Senior Indebtedness that the
Administrative Agent and the Senior Lenders deem appropriate. 
 Article 13 

GENERAL PROVISIONS 

13.1 Notices 
 All notices
and other communications provided for hereunder shall be given in the form and manner prescribed by Section 10.02 of the Credit Agreement. Until otherwise notified by EEP, all such notices to any Subordinated Creditor may be given to EEP on
behalf of all such Subordinated Creditors, at the “Address for Notices” following the signature block of EEP, and shall be sufficiently delivered to all Subordinated Creditors if so given. 

  
 23 

 13.2 Amendments and Waivers 

 

	 	a.	No provision of this Agreement may be amended, waived, discharged or terminated orally nor may any breach of any of the provisions of this Agreement be waived or discharged orally, and any such amendment, waiver,
discharge or termination may only be made in writing signed by the Administrative Agent on behalf of the requisite Senior Lenders, or by the Senior Lenders, and if such amendment is intended to bind the Subordinated Creditor, by the Subordinated
Creditor. 

  

	 	b.	No failure on the part of any party to exercise, and no delay in exercising, any right, power or privilege hereunder shall operate as a waiver thereof unless specifically waived in writing, nor shall any single or
partial exercise of any right, power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, power or privilege. 

 

	 	c.	Any waiver of any provision of this Agreement or consent to any departure by any party therefrom shall be effective only in the specific instance and for the specific purpose for which given and shall not in any way be
or be construed as a waiver of any future requirement. 

 13.3 Assignment by Lenders 

 

	 	a.	Each Subordinated Debt Party acknowledges and agrees that each of the Senior Lenders shall have the right, subject to the terms of the Loan Documents, to assign, sell, participate or otherwise transfer all or any
portion of its rights and benefits under the Loan Documents, and in connection therewith, this Agreement, or both, and any Lien without the consent of the Subordinated Debt Parties. This Agreement shall extend to and inure to the benefit of each of
the Senior Lenders and their respective successors and assigns permitted pursuant to the terms of the Loan Documents. 

  

	 	b.	Notwithstanding any provision herein or referred to herein, nothing shall prohibit or otherwise restrict the Senior Lenders from assigning all, but not part, of the Senior Indebtedness to any one or more Affiliates of
any Borrower. 

 13.4 Effectiveness in Insolvency or Liquidation Proceedings 

This Agreement, which the parties hereto expressly acknowledge is a “subordination agreement” under Section 510(a) of the
Bankruptcy Code, shall be effective before, during and after the commencement of an Insolvency Proceeding notwithstanding Section 1129(b)(1) of the Bankruptcy Code, and is intended to be and shall be interpreted to be enforceable against the
parties hereto including each Credit Party to the maximum extent permitted pursuant to applicable law. All references in this Agreement to any Obligor or other Credit Party shall include such Person as a debtor-in-possession and any receiver or
trustee for such Person in any Insolvency Proceeding. 
 13.5 Assignment and Certain Other Actions by Subordinated Creditor 

Until Discharge of the Senior Indebtedness, no Subordinated Debt Party shall (a) accelerate the maturity of the Subordinated Indebtedness
to a date that is earlier than six (6) months after the Maturity Date as defined in the Credit Agreement; (b) take any guarantee for any Subordinated Indebtedness from a Person unless contemporaneously therewith a guaranty by such Person
shall be entered into in respect of the Senior Indebtedness and such Person shall be deemed a Credit Party hereunder; or (c) sell, assign, transfer, endorse, pledge, encumber or otherwise dispose of any of the Subordinated Indebtedness, unless
the Subordinated Creditor gives the Administrative Agent written notice thereof and such sale, transfer, 

  
 24 

 endorsement, pledge, encumbrance or other disposition is to an Affiliate of the Obligor and is made expressly
subject to this Subordination Agreement. If Subordinated Debt Party takes a guarantee for any Subordinated Indebtedness, all obligations under such guarantee shall constitute Subordinated Indebtedness herein and such guaranty (and any recoveries
thereon) shall be subject to the terms of this Agreement, including the payment over provisions contained herein. 
 13.6 Further
Assurances 
 The Subordinated Creditor shall, at the request of the Senior Lenders but at the expense of the Subordinated Creditor, do
all such further acts and things and execute and deliver all such further documents as the Administrative Agent or the Senior Lenders may reasonably require in order to fully perform and carry out the terms of this Agreement. 

13.7 Counterparts 
 This
Agreement may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. 

13.8 Specific Performance 

Each party to this Agreement may demand specific performance of this Agreement and each party hereby irrevocably waives any defense based on
the adequacy of a remedy at law and any other defense that might be asserted to bar the remedy of specific performance in any action which may be brought by any other party to this Agreement. 

13.9 Waiver of Right to Trial by Jury 

EACH PARTY TO THIS AGREEMENT HEREBY EXPRESSLY WAIVES ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND, ACTION OR CAUSE OF ACTION ARISING UNDER
THIS AGREEMENT, ANY LOAN DOCUMENT OR IN ANY WAY CONNECTED WITH OR RELATED OR INCIDENTAL TO THE DEALINGS OF THE PARTIES HERETO OR ANY OF THEM WITH RESPECT TO ANY LOAN DOCUMENT, OR THE TRANSACTIONS RELATED HERETO OR THERETO, IN EACH CASE WHETHER NOW
EXISTING OR HEREAFTER ARISING, AND WHETHER FOUNDED IN CONTRACT OR TORT OR OTHERWISE; AND EACH PARTY HEREBY AGREES AND CONSENTS THAT ANY SUCH CLAIM, DEMAND, ACTION OR CAUSE OF ACTION SHALL BE DECIDED BY COURT TRIAL WITHOUT A JURY, AND THAT ANY PARTY
TO THIS AGREEMENT MAY FILE AN ORIGINAL COUNTERPART OR A COPY OF THIS SECTION WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF THE SIGNATORIES HERETO TO THE WAIVER OF THEIR RIGHT TO TRIAL BY JURY. 

13.10 Obligor Acknowledgment 

Each Obligor hereby acknowledges and agrees to the terms of this Agreement, and covenants not to participate in any violation thereof. 

13.11 Beneficiaries 
 The
provisions of this Agreement define the relative rights solely of the Subordinated Creditors and the Senior Lenders, and nothing contained in this Agreement is intended to or shall impair the obligations of the Borrowers or any other Credit Party,
which are unconditional and absolute, to pay the Senior Indebtedness and the Subordinated Indebtedness as and when the same shall become due and 

  
 25 

 payable in accordance with their respective terms, or to affect the relative rights of creditors of the Borrowers
or any other Credit Parties other than the relative rights of the Senior Lenders and the Subordinated Creditors or the Liens created in favor of the Senior Lenders and the Subordinated Creditors, respectively. Without limiting the generality of the
foregoing, it is specifically understood and agreed that no Person is a third-party beneficiary of this Agreement, and in furtherance (but not in limitation) thereof (i) no trustee in any Insolvency Proceeding for or affecting, or unsecured
creditor of, any Credit Party will have or acquire or be entitled to exercise any rights of any Senior Lender or Subordinated Creditor under this Agreement under any legal or equitable basis, theories or circumstances and (ii) the provisions of
this Agreement are not for the benefit of, and may not be enforced by, any Credit Party or any other obligor of the Senior Indebtedness or the Subordinated Indebtedness, or any creditor of a Credit Party or such obligors (except the Senior Lenders
and the Subordinated Creditors as herein provided). 
 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed
by their respective authorized officers as of the day and year first above written. 
 [Signatures on following pages] 

  
 26 

									
		 	BORROWERS:
			
		 		 	 MIDCOAST ENERGY PARTNERS, L.P.

a Delaware limited partnership, as Borrower

				
		 		 	By:    	 	Midcoast Holdings, L.L.C., its General Partner
					
		 		 		 	By:   	 	/s/ Noor S. Kaissi
		 		 		 		 	 Noor S. Kaissi
 Controller

			
		 		 	 MIDCOAST OPERATING, L.P.
 a
Texas limited partnership, as Opco Borrower

				
		 		 	By:	 	/s/ Mark A. Maki
		 		 		 	 Mark A. Maki
 President of Enbridge
Energy Management, L.L.C.
 and an Authorized Signatory on behalf of Opco

Borrower

 [Signature Page to Intercompany Subordination Agreement] 

  

									
		 	SUBSIDIARY GUARANTORS:
			
		 		 	 ENBRIDGE G&P (EAST TEXAS) L.P.

a Texas limited partnership, as a Subsidiary Guarantor

			
		 		 	 ENBRIDGE PIPELINES (EAST TEXAS) L.P.

a Texas limited partnership, as a Subsidiary Guarantor

			
		 		 	 ENBRIDGE G&P (OKLAHOMA) L.P.

a Texas limited partnership, as a Subsidiary Guarantor

			
		 		 	 ENBRIDGE PIPELINES (NORTH TEXAS) L.P.

a Texas limited partnership, as a Subsidiary Guarantor

			
		 		 	 ENBRIDGE G&P (NORTH TEXAS) L.P.

a Texas limited partnership, as a Subsidiary Guarantor

			
		 		 	 ELTM, L.P.

a Delaware limited partnership, as a Subsidiary Guarantor

			
		 		 	 ENBRIDGE PIPELINES (TEXAS GATHERING) L.P.

a Delaware limited partnership, as a Subsidiary Guarantor

			
		 		 	 ENBRIDGE MARKETING (NORTH TEXAS) L.P.

a Delaware limited partnership, as a Subsidiary Guarantor

				
		 		 	By:  	 	 Enbridge Holdings (Texas Systems) L.L.C.,

the General Partner of each of Enbridge G&P (East Texas) L.P., Enbridge Pipelines (East Texas) L.P., Enbridge G&P (Oklahoma) L.P., Enbridge Pipelines
(North Texas) L.P., Enbridge G&P (North Texas) L.P., ELTM, L.P., Enbridge Pipelines (Texas Gathering) L.P. and Enbridge Marketing (North Texas) L.P.

					
		 		 		 	By:   	 	/s/ Cynthia B. Ayazi
		 		 		 		 	 Cynthia B. Ayazi
 Assistant
Treasurer

			
		 		 	 ENBRIDGE ENERGY MARKETING, L.L.C. 

a Delaware limited liability company, as a Subsidiary

Guarantor

				
		 		 	By:	 	/s/ Cynthia B. Ayazi
		 		 		 	 Cynthia B. Ayazi

Treasurer

 [Signature Page to Intercompany Subordination Agreement] 

  

					
		 	 MIDCOAST OLP GP, L.L.C.
 a
Delaware limited liability company, as a Subsidiary Guarantor

			
		 	 By:    
	 	 /s/ Noor S. Kaissi

		 		 	 Noor S. Kaissi

Controller

 [Signature Page to Intercompany Subordination Agreement] 

  

							
		 	ADMINISTRATIVE AGENT:
			
		 		 	 BANK OF AMERICA, N.A.,

as Administrative Agent, Swing Line Lender, and an

L/C Issuer

				
		 		 	 By:  
	 	 /s/ James K.G. Campbell

		 		 		 	 Name: James K.G. Campbell

Title: Director

 [Signature Page to Intercompany Subordination Agreement] 

							
		 	SUBORDINATED CREDITORS:
			
		 		 	ENBRIDGE ENERGY PARTNERS, L.P.
				
		 		 	By:	  	 Enbridge Energy Management, L.L.C., as delegate of

Enbridge Energy Company, Inc., as General Partner

				
		 		 	By:	  	/s/ Mark A. Maki
		 		 		  	Mark A. Maki
		 		 		  	President
			
		 		 	Address for Notices
			
		 		 	Enbridge Energy Partners, L.P.
		 		 	1100 Louisiana, Suite 3300
		 		 	 Houston, Texas 77002-5217

Attention:                   Chris Kaitson

		 		 		  	                            Vice President—US Law
		 		 	 Telephone:                 (713) 650-8900

Facsimile:                   (713) 821-2229

		 		 	Electronic Mail:         Chris.Kaitson@enbridge.com
			
		 		 	With a copy to:
			
		 		 	 Enbridge Energy Partners, L.P.
 C/O
Enbridge Inc.

		 		 	3000, 425-lst
		 		 	Calgary, Alberta, Canada
		 		 	T2P 3L8
		 		 	 Attention:                 Darren Yaworsky

                          
       Treasurer

		 		 	 Telephone:               (403) 231-3924

Facsimile:                 (403) 231-4848

		 		 	Electronic Mail:        Darren.Yaworsky@enbridge.com

 [Signature Page to Intercompany Subordination Agreement]EX-10.1

 EXHIBIT 10.1 

AMENDMENT NO. 2 TO 
 AMENDED AND
RESTATED RECEIVABLES PURCHASE AGREEMENT 
 This AMENDMENT NO. 2, effective as of November 15, 2013 (this
“Amendment”), is made with respect to that certain Amended and Restated Receivables Purchase Agreement, dated as of November 18, 2011 (as amended, restated, supplemented or otherwise modified, the
“Agreement”), among LPAC CORP., a Delaware corporation ( the “Seller”), LENNOX INDUSTRIES INC., a Delaware corporation, as master servicer thereunder (in such capacity, the “Master
Servicer”), VICTORY RECEIVABLES CORPORATION, a Delaware corporation, as a Purchaser, and THE BANK OF TOKYO-MITSUBISHI UFJ, LTD., NEW YORK BRANCH, as administrative agent for the Investors (in such capacity, the
“Administrative Agent”), the purchaser agent for the BTMU Purchaser Group (in such capacity, the “BTMU Purchaser Agent”) and a BTMU Liquidity Bank and PNC BANK, NATIONAL ASSOCIATION, as the purchaser
agent for the PNC Purchaser Group (in such capacity, the “PNC Purchaser Agent”) and a PNC Liquidity Bank. Capitalized terms used and not otherwise defined in this Amendment shall have the meanings given to such terms
in the Agreement. 
 Preliminary Statements 

(1) Each of the parties to the Agreement desires to amend the Agreement on the conditions set forth herein. 

NOW, THEREFORE, the signatories hereto agree as follows: 

SECTION 1. Amendment to the Agreement. Effective as of the date hereof in accordance with Section 2 of this Amendment, the
Agreement is amended as follows: 
 (a) The Agreement is hereby amended to incorporate the changes shown on the marked pages attached hereto
as Annex A. 
 (b) Market Street shall no longer be a party to the Agreement and it shall have no further rights or obligations under, or
interests with respect to, the Agreement; provided, that Market Street shall continue to have the benefit of all indemnities and other agreements under the Agreement which survive the termination of the Agreement. 

SECTION 2. Effectiveness. This Amendment shall become effective as of the date hereof at such time that: 

(a) each of the Administrative Agent, the BTMU Purchaser Agent and the PNC Purchaser Agent shall have received, in form and substance
satisfactory to it, executed counterparts of this Amendment; 
 (b) the BTMU Purchaser Agent and the PNC Purchaser Agent shall have received
an executed amendment and restatement of the Fee Letter for such Purchaser Agent’s Purchaser Group (each an “A&R Fee Letter”); 

(c) the BTMU Purchaser Agent and the PNC Purchaser Agent shall have received payment of the Up-Front Fee, in accordance with the terms of, and
as such term is defined in, such Purchaser Agent’s A&R Fee Letter; and 
 (d) the Administrative Agent and each Purchaser Agent
shall have received, in form and substance satisfactory to it, a copy of the resolutions of the board of directors (or similar governing body) of the Seller and the Master Servicer approving this Agreement and the transactions contemplated hereby,
certified by its secretary or any other authorized person. 

 SECTION 3. Post-Closing Requirement. The Seller and the Master Servicer agree to deliver
to each Agent, in form and substance satisfactory to each Agent, a duly executed Lockbox Agreement with Wells Fargo Bank, National Association within 30 days of the date hereof. Each Agent agrees that the delivery of such Lockbox Agreement within
such 30 day period shall be deemed to be in compliance with Section 7.3(d) of the Agreement. The Seller agrees that no Receivables for which payments are being made to the Lockbox Account at Wells Fargo Bank, National Association shall be
Eligible Receivables until such executed Lockbox Agreement is delivered. 
 SECTION 4. Transaction Document. This Amendment shall be
a Transaction Document under the Agreement. 
 SECTION 5. Representations and Warranties. Each of the Seller and the Master Servicer
makes, as to itself (except where specifically provided otherwise therein), each of the representations and warranties contained in Section 6.1 of the Agreement (after giving effect to this Amendment) set forth therein. 

SECTION 6. Confirmation of Agreements; No Other Modifications. Each reference in the Agreement to “this Agreement” or
“the Agreement”, or “hereof,” “hereunder” or words of like import, and each reference in any other Transaction Document to the Agreement, shall mean the Agreement as amended by this Amendment, and as hereafter amended
or restated. Except as herein expressly amended, the Agreement is ratified and confirmed in all respects and shall remain in full force and effect in accordance with its terms. 

SECTION 7. Affirmation and Consent of Lennox International. Lennox International hereby consents to this Amendment and hereby affirms
and agrees that the Assurance Agreement is, and shall continue to be, in full force and effect and is hereby ratified and affirmed in all respects. Upon the effectiveness of, and on and after the date of, the Amendment, each reference in the
Assurance Agreement to the Agreement, “thereunder”, “thereof” or words of like import shall mean and be a reference to the Agreement as amended by this Amendment, and as hereafter amended or restated. 

SECTION 8. Costs and Expenses. The Seller agrees to pay on demand all reasonable costs and expenses in connection with the preparation,
execution and delivery of this Amendment, including, without limitation, the reasonable fees and out-of-pocket expenses of counsel for the Administrative Agent with respect thereto. 

SECTION 9. GOVERNING LAW. THIS AMENDMENT, INCLUDING THE RIGHTS AND DUTIES OF THE PARTIES HERETO, SHALL BE GOVERNED BY, AND CONSTRUED
IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF NEW YORK WITHOUT REFERENCE TO PRINCIPLES OF CONFLICTS OF LAW (OTHER THAN SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW). 

SECTION 10. Execution in Counterparts. This Amendment may be executed in any number of counterparts and by the different parties hereto
in separate counterparts, each of which when so executed shall be deemed to be an original and all of which when taken together shall constitute one and the same Amendment. Delivery of an executed counterpart of a signature page to this Amendment by
facsimile or by electronic mail in portable document format (.pdf) shall be as effective as delivery of a manually executed counterpart of a signature page of this Amendment. 

  
 2 

 SECTION 11. Side Letter. Each of the parties hereto agree that the amendments to the
Agreement set forth herein shall supersede the agreements set forth in Sections 4 and 5 of that certain letter agreement, dated October 17, 2013, from Market Street and the PNC Liquidity Bank and acknowledged by the Seller, the PNC Purchaser
Agent and the Administrative Agent, and that the agreements set forth in such Sections 4 and 5 shall no longer be effective. 
 [Remainder of
this page intentionally left blank] 

  
 3 

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

			
	LPAC CORP., as Seller
		
	By:	 	/s/ Rick Pelini
		 	Name: Rick Pelini
		 	Title: President and Treasurer
	
	LENNOX INDUSTRIES INC., as Master Servicer
		
	By:	 	/s/ Rick Pelini
		 	Name: Rick Pelini
		 	Title: Vice President and Treasurer
	
	LENNOX INTERNATIONAL INC.
		
	By:	 	/s/ Rick Pelini
		 	Name: Rick Pelini
		 	Title: Vice President and Treasurer

 [Amendment No. 2 to A&R RPA] 

 
			
	VICTORY RECEIVABLES CORPORATION, as a Purchaser
		
	By:	 	/s/ David V. DeAngelis
		 	Name: David V. DeAngelis
		 	Title: Vice President
	
	THE BANK OF TOKYO-MITSUBISHI UFJ, LTD., NEW YORK BRANCH, as Administrative Agent
		
	By:	 	/s/ Richard Gregory Hurst
		 	Name: Richard Gregory Hurst
		 	Title: Managing Director
	
	THE BANK OF TOKYO-MITSUBISHI UFJ, LTD., NEW YORK BRANCH, as BTMU Purchaser Agent
		
	By:	 	/s/ Richard Gregory Hurst
		 	Name: Richard Gregory Hurst
		 	Title: Managing Director
	
	THE BANK OF TOKYO-MITSUBISHI UFJ, LTD., NEW YORK BRANCH, as a Liquidity Bank
		
	By:	 	/s/ Jason Krogh
		 	Name: Jason Krogh
		 	Title: Authorized Signatory

 [Amendment No. 2 to A&R RPA] 

 
			
	PNC BANK, NATIONAL ASSOCIATION, as PNC Purchaser Agent
		
	By:	 	/s/ Jason D. Rising
		 	Name: Jason D. Rising
		 	Title: Senior Vice President
	
	PNC BANK, NATIONAL ASSOCIATION, as a Liquidity Bank 
		
	By:	 	/s/ Jason D. Rising
		 	Name: Jason D. Rising
		 	Title: Senior Vice President

 [Amendment No. 2 to A&R RPA] 

 ANNEX A 

CHANGED PAGES TO AGREEMENT 

 CONFORMED COPY 

INCORPORATING AMENDMENT NO. 12 

AMENDED AND RESTATED RECEIVABLES PURCHASE AGREEMENT 

Dated as of November 18, 2011 

Among 
 LPAC CORP., 

as the Seller 
 and 

LENNOX INDUSTRIES INC., 
 as the
Master Servicer 
 and 
 VICTORY
RECEIVABLES CORPORATION, 
 as a Purchaser 

and 

MARKET STREET FUNDING LLC, 

as a Purchaser 

and 
 THE BANK OF TOKYO-MITSUBISHI
UFJ, LTD., NEW YORK BRANCH, 
 as a Liquidity Bank 

and 
 THE BANK OF TOKYO-MITSUBISHI
UFJ, LTD., NEW YORK BRANCH, 
 as Administrative Agent and the BTMU Purchaser Agent 

and 
 PNC BANK, NATIONAL
ASSOCIATION, 
 as a Liquidity Bank and the PNC Purchaser Agent 
  

 
  

							
	 Section 8.7
	 	Further Action Evidencing Purchases and Reinvestments	  	 	42	  
	 Section 8.8
	 	Application of Collections	  	 	44	  
	 Article IX. Security Interest
	  	 	44	  
	 Section 9.1
	 	Grant of Security Interest	  	 	44	  
	 Section 9.2
	 	Further Assurances	  	 	44	  
	 Section 9.3
	 	Remedies	  	 	45	  
	 Article X. Liquidation Events
	  	 	45	  
	 Section 10.1
	 	Liquidation Events	  	 	45	  
	 Section 10.2
	 	Remedies	  	 	48	  
	 Article XI. The Administrative Agent
	  	 	48	  
	 Section 11.1
	 	Administrative Agent Authorization and Action	  	 	48	  
	 Section 11.2
	 	Administrative Agent’s Reliance, Etc	  	 	48	  
	 Section 11.3
	 	BTMUNY and Affiliates	  	 	49	  
	 Section 11.4
	 	Liquidity Bank’s Purchase Decision	  	 	49	  
	 Section 11.5
	 	Indemnification of Agent	  	 	49	  
	 Section 11.6
	 	Purchaser Agent Authorization and Action	  	 	50	  
	 Section 11.7
	 	Purchaser Agent’s Reliance, Etc.	  	 	50	  
	 Article XII. Assignments
	  	 	50	  
	 Section 12.1
	 	Restrictions on Assignments	  	 	50	  
	 Section 12.2
	 	Rights of Assignee	  	 	51	  
	 Section 12.3
	 	Terms and Evidence of Assignment	  	 	52	  
	 Section 12.4
	 	Rights of Liquidity Banks	  	 	52	  
	 Article XIII. Indemnification
	  	 	5352	  
	 Section 13.1
	 	Indemnities by the Seller	  	 	5352	  
	 Section 13.2
	 	Indemnities by Master Servicer	  	 	55	  
	 Article XIV. Miscellaneous
	  	 	56	  
	 Section 14.1
	 	Amendments, Etc	  	 	56	  
	 Section 14.2
	 	Notices, Etc	  	 	56	  
	 Section 14.3
	 	No Waiver; Remedies	  	 	5756	  
	 Section 14.4
	 	Binding Effect; Survival	  	 	57	  
	 Section 14.5
	 	Costs, Expenses and Taxes	  	 	57	  
	 Section 14.6
	 	No Proceedings	  	 	58	  
	 Section 14.7
	 	Confidentiality of Seller Information	  	 	58	  
	 Section 14.8
	 	Captions and Cross References	  	 	60	  
	 Section 14.9
	 	Integration	  	 	6160	  
	 Section 14.10
	 	Governing Law	  	 	61	  
	 Section 14.11
	 	Waiver Of Jury Trial	  	 	61	  
	 Section 14.12
	 	Consent To Jurisdiction; Waiver Of Immunities	  	 	61	  
	 Section 14.13
	 	Execution in Counterparts	  	 	6261	  
	 Section 14.14
	 	No Recourse Against Other Parties	  	 	62	  
	 Section 14.15
	 	Severability of Provisions	  	 	62	  
	 Section 14.16
	 	Amendment and Restatement	  	 	62	  

  
 ii 

 AMENDED AND RESTATED RECEIVABLES PURCHASE AGREEMENT 

Dated as of November 18, 2011 

AMENDED AND RESTATED RECEIVABLES PURCHASE AGREEMENT (the “Agreement”) among: 

(1) LPAC CORP., a Delaware corporation (together with its successors and permitted assigns, the “Seller”), 

(2) LENNOX INDUSTRIES INC., a Delaware corporation (together with its successors, “Lennox”), as master servicer
hereunder (in such capacity, together with any successor master servicer appointed pursuant to Section 8.1, the “Master Servicer”, Lennox in its capacity as the Master Servicer, together with the Seller, each a
“Seller Party” and collectively the “Seller Parties”), 
 (3) VICTORY RECEIVABLES
CORPORATION, a Delaware corporation, as a Purchaser (in such capacity, together with any successors and assigns thereto in such capacity, the “BTMU Purchaser”), 

(4) MARKET STREET FUNDING LLC, a Delaware limited liability company, as a Purchaser
(in such capacity, together with any successors and assigns thereto in such capacity, the “PNC Purchaser”),(5) THE BANK OF TOKYO-MITSUBISHI UFJ, LTD., NEW YORK BRANCH, (“BTMUNY”), as
(a) administrative agent for the Investors (in such capacity, together with any successors and assigns thereto in such capacity, the “Administrative Agent”), (b) the purchaser agent for the BTMU Purchaser Group (in
such capacity, together with any successors and assigns thereto in such capacity, the “BTMU Purchaser Agent”) and (c) a BTMU Liquidity Bank, and 

(6(5) PNC BANK, NATIONAL ASSOCIATION (“PNC”), as (a) the purchaser agent for the PNC
Purchaser Group (in such capacity, together with any successors and assigns thereto in such capacity, the “PNC Purchaser Agent”) and (b) a PNC Liquidity Bank. 

Unless otherwise indicated, capitalized terms used in this Agreement are defined in Appendix A. 

Background 
 1. As of the
date hereof, Lennox, Allied, Heatcraft Inc. and Heatcraft own 100% of the issued and outstanding capital stock of the Seller, a special purpose corporation. 

2. The Originators are engaged in the heating, ventilating, air conditioning and refrigeration businesses. 

 3. On June 19, 2000, Lennox, Heatcraft Inc. and the Seller entered into a “Purchase and
Sale Agreement” (as amended, modified or supplemented prior to the date of the A&R Sale Agreement (as defined below), the “Initial Sale Agreement”) under which Lennox and Heatcraft Inc. transferred certain Receivables and
Related Rights (each as defined in the Initial Sale Agreement) to the Seller as part of the capitalization of the Seller and thereafter Lennox and Heatcraft Inc. sold and contributed to the Seller, and the Seller purchased and accepted as
contributions from Lennox and Heatcraft Inc., Receivables and Related Rights (each as defined in the Initial Sale Agreement). On November 25, 2009, Lennox and the Seller agreed to amend and restate the Initial Sale Agreement pursuant to the
“Amended and Restated Purchase and Sale Agreement” (as amended, modified or supplemented prior to the date hereof, the “A&R Sale Agreement”) under which Lennox continued to sell and contribute to the Seller, and the
Seller continued to purchase and accept as contributions from Lennox, Receivables and Related Rights (each as defined in the A&R Sale Agreement). Concurrently with the execution of this Agreement, Lennox, Allied, Heatcraft Refrigeration, Lennox
Hearth and the Seller agreed to amend and restate the A&R Sale Agreement pursuant to the Sale Agreement under which each of Lennox, Allied, Heatcraft Refrigeration and Lennox Hearth sell and contribute to the Seller, and the Seller purchases and
accepts as contributions from Lennox, Allied, Heatcraft Refrigeration and Lennox Hearth, all of their respective right, title and interest in and to the Pool Receivables and certain related property in accordance with the terms and subject to the
conditions set forth in the Sale Agreement. In March, 2012, Lennox Hearth was removed as an Originator. 
 4. On November 25,
2009, the Seller, the Master Servicer, the BTMU Purchaser, the BTMU Purchaser Agent, the BTMU Liquidity Bank and the Administrative Agent entered into a Receivables Purchase Agreement (as amended, modified or supplemented prior to the date hereof,
the “Prior RPA”) under which the Seller has sold, and the Purchasers (as defined in the Prior RPA) (or to the extent any such Purchaser declines, each Liquidity Bank (as defined in the Prior RPA) in such Purchaser’s Purchaser
Group (as defined in the Prior RPA)) has purchased, from time to time, undivided percentage ownership interests, referred to therein as the Asset Interest (as defined in the Prior RPA), in the Pool Receivables (as defined in the Prior RPA) and
related property. 
 5. The Seller has requested the Purchasers, and the Purchasers (or to the extent any Purchaser in a Purchaser Group
declines or any Purchaser Group has no Purchasers, each Liquidity Bank in such Purchaser’s Purchaser Group party hereto) have agreed, subject to the terms and conditions contained in this Agreement, to continue to
purchase from the Seller from time to time undivided percentage ownership interests, referred to herein as the Asset Interest, in the Pool Receivables and related property. 

6. The Seller and the Investors also desire that, subject to the terms and conditions of this Agreement, certain of the daily Collections in
respect of the Asset Interests be reinvested in Pool Receivables, which reinvestment shall constitute part of the Asset Interests. 
 7. The
parties to this Agreement also desire that, pursuant to the terms hereof, Lennox be appointed, and act, as the initial Master Servicer of the Pool Receivables and related property. 

8. BTMUNY has been requested, and is willing, to act as the Administrative Agent and the BTMU Purchaser Agent under this Agreement. PNC has
been requested, and is willing, to act as the PNC Purchaser Agent under this Agreement. 

  
 2 

 9. The parties hereto wish to amend and restate the Prior RPA in its entirety. 

NOW, THEREFORE, in consideration of the premises and the mutual agreements herein contained, the parties hereto hereby agree that the Prior
RPA shall be amended and restated in its entirety as follows: 
 Article I. 

Purchases and Reinvestments 

Section 1.1 Commitments to Purchase; Limits on Purchasers’ Obligations. 

Upon the terms and subject to the conditions of this Agreement (including, without limitation, Article V), from time to time prior to
the Termination Date, the Seller may request that the PurchasersInvestors purchase from the Seller undivided percentage ownership interests in Pool Receivables and Related Assets, and (a) the Purchasers may, in
their sole discretion, make such purchase, or (b) if (x) any Purchaser in a Purchaser Group shall decline to make such Purchase or (y) any Purchaser Group has no Purchasers, one or more Liquidity Banks
party to this Agreement in such Purchaser’s Purchaser Group shall make such purchase (in any such case, each being a “Purchase”); provided that no Purchase shall be made by any Investor if, after
giving effect thereto (and after giving effect to any reductions in the Invested Amount or any Purchaser Group Invested Amount to be made on the date of such Purchase (whether from the distributions of Collections or otherwise)), (i) the
Invested Amount would exceed $160,000,000) (the “Purchase Limit”) in effect at such time, (ii) the Purchaser Group Invested Amount of such Investor’s Purchaser Group would
exceed such Purchaser Group’s Purchaser Group Limit in effect at such time or (iii) the Asset Interest would exceed 100% (the “Allocation Limit”); and provided, further that each Purchase made
pursuant to this Section 1.1 shall have a purchase price equal to at least $1,000,000 and shall be an integral multiple of $100,000. Notwithstanding anything to the contrary herein, the amount available for any Purchase hereunder shall
be calculated based on the most recently delivered Information Package and not based on the most recently delivered Interim Information Package; provided, however that no Purchases shall be permitted hereunder if the calculations in
any Interim Information Package delivered after the most recently delivered Information Package show that (either before or after giving effect to such Purchase) (i) the Invested Amount would exceed the Purchase Limit in effect at such
time, (ii) the Purchaser Group Invested Amount of any Purchaser Group would exceed the Purchaser Group Limit of such Purchaser Group in effect at such time, or (iii) the Asset Interest would exceed the Allocation Limit. 

Section 1.2 Purchase Procedures; Assignment of the Investors’ Interests. 

(a) Purchase Request. Each Purchase from the Seller by the Purchasers or the Liquidity Banks, as applicable, shall be made on notice
from the Seller to the Administrative Agent and each Purchaser Agent (on behalf of the Investors in such Purchaser Agent’s Purchaser Group) received by the Administrative Agent and each such Purchaser Agent not later than 12:00

  
 3 

 
noon (New York City time) on the second Business Day preceding the date of such proposed Purchase. Each such notice of a proposed Purchase shall be substantially in the form of Exhibit
1.2(a) and shall specify, among other items, the desired amount to be paid to the Seller, the Pro Rata Share thereof of each Purchaser Group and the date of such Purchase. Each Purchaser Agent which has a Purchaser in its Purchaser Group
shall promptly upon receipt notify the Purchaser in such Purchaser Agent’s Purchaser Group of any such notice. If (x) any Purchaser in a Purchaser Group has determined not to make the
proposed purchase or (y) any Purchaser Group has no Purchaser, the Purchaser Agent of such Purchaser’s Purchaser Group shall promptly send notice of the proposed purchase to each Liquidity Bank in such Purchaser
Group by telecopier specifying the date of such proposed purchase, and such Liquidity Bank’s Percentage multiplied by the Pro Rata Share with respect to such Purchaser Group of the amount of such Purchase. The Seller shall not request more than
one Purchase in any calendar week. 
 (b) Funding of Purchase. On the date of each Purchase, the Investors in each Purchaser Group
shall, upon satisfaction of the applicable conditions set forth in Article V, make available to the Seller (through the Purchaser Agent of such Investors’ Purchaser Group) its applicable Pro Rata Share of the amount of the Purchase in
same day funds by wire transfer to the Seller’s Account. Each Liquidity Bank’s obligation shall be several, such that the failure of any Liquidity Bank to make available to the Seller any funds in connection with any purchase shall not
relieve any other Liquidity Bank of its obligation, if any, hereunder to make funds available on the date of such purchase, but no Liquidity Bank shall be responsible for the failure of any other Liquidity Bank to make funds available in connection
with any purchase. 
 (c) Assignment of Asset Interests. The Seller hereby sells, assigns and transfers to the Administrative Agent,
for the benefit of the applicable Investors in each Purchaser Group making each Purchase, effective on and as of the date of such Purchase and each Reinvestment hereunder, an undivided percentage ownership interest, to the extent of the portion of
the Asset Interest then being purchased, in the Pool Receivables and the Related Assets with respect thereto. 
 Section 1.3
Reinvestments of Certain Collections; Payment of Remaining Collections. 
 (a) On the close of business on each day during the
period from the date of the first Purchase to the Final Payout Date, the Master Servicer will, out of all Collections received on such day: 

(i) determine the portion of the Collections attributable to the Asset Interest by multiplying (A) the amount of such
Collections times (B) the lesser of (i) the Asset Interest and (ii) 100%; 
 (ii) out of the portion of such
Collections allocated to the Asset Interest pursuant to clause (i) above, identify and hold in trust for the Purchaser Agents on behalf and for the benefit of their respective Purchaser Groups (provided that unless otherwise
requested by any Purchaser Agent, on behalf of such Purchaser Agent’s Purchaser Group, such Collections shall not be required to be held in a separate account) an amount equal to the sum of the estimated amount of Earned Discount and CP Costs
accrued in respect 

  
 4 

 
of each Asset Tranche (based on the rate information provided by each Agent pursuant to Section 2.5), all other amounts due to the Investors or the Agents hereunder and the
Investors’ Share of the Servicing Fee allocable pursuant to Section 3.1(d) (in each case, accrued through such day) and not so previously identified; and 

(iii) apply the Collections allocated to the Asset Interest pursuant to clause (i) above and not required to be
identified and held in trust pursuant to clause (ii) above to the purchase from the Seller of undivided percentage ownership interests in Pool Receivables and the Related Assets with respect to such Pool Receivables (each such purchase
being a “Reinvestment”); provided that: 
 (A) if, after giving effect to such Reinvestment,
(i) the Asset Interest would exceed the Allocation Limit, (ii) the Purchaser Group Invested Amount of any Purchaser Group would exceed such Purchaser Group’s Purchaser Group Limit in effect at such time or (iii) the
Invested Amount would exceed the Purchase Limit in effect at such time, then the Master Servicer shall not make such Reinvestment, but shall identify and hold in trust for the benefit of the Investors, a portion of such Collections which,
together with other Collections previously identified and then so held, shall equal the amount necessary to reduce (x) the Invested Amount to the Purchase Limit in effect at such time, (y) any Purchaser Group’s Purchaser Group
Invested Amount to such Purchaser Group’s Purchaser Group Limit in effect at such time and (z) the Asset Interest to the Allocation Limit; and 

(B) if any of the conditions precedent to Reinvestment in Section 5.2, subject to the proviso set forth in
Section 5.2, are not satisfied, then the Master Servicer shall not reinvest any of such remaining Collections, but shall identify them and hold them in trust for the benefit of the Investors; and 

(C) if the Seller has commenced an optional reduction in the Invested Amount pursuant to Section 3.2(b), then the
Master Servicer shall not reinvest any such remaining Collections until the amount not reinvested shall equal the desired reduction amount; 

(iv) out of the portion of Collections not allocated to the Asset Interest pursuant to clause (i) above, pay to the
Master Servicer or set aside (at the option of the Master Servicer) the Seller’s Share of the Servicing Fee accrued through such day and not previously paid; and 

(v) pay to the Seller (A) the remaining portion of Collections not allocated to the Asset Interest pursuant to clause
(i) above and (B) the Collections applied to Reinvestment pursuant to clause (iii) above. 
 (b) Unreinvested
Collections. The Master Servicer shall identify and hold in trust for the benefit of the Investors, all Collections which, pursuant to clause (iii) of Section 1.3(a), may not be reinvested in the Pool Receivables and the
Related Assets, provided that unless otherwise requested by any Agent, such Collections need not be held in a segregated account. If, prior to 

  
 5 

 
the date when such Collections are required to be paid to any Purchaser Agent pursuant to Section 1.3(c)(iv), the amount of Collections so identified exceeds the amount, if any,
necessary to reduce (i) the Invested Amount to the Purchase Limit in effect at such time, (ii) the Purchaser Group Invested Amount of each Purchaser Group to the Purchaser Group Limit of such Purchaser Group in effect at such
time and (iii) the Asset Interest to the Allocation Limit, and the conditions precedent to Reinvestment set forth in Section 5.2, subject to the proviso set forth in Section 5.2, are satisfied, then the Master
Servicer shall apply such Collections (or, if less, a portion of such Collections equal to the amount of such excess) to the making of a Reinvestment. 

(c) Payment of Amounts. 

(i) The Master Servicer shall pay all amounts of Collections identified pursuant to Section 1.3(a)(ii) in respect
of Earned Discount on an Asset Tranche funded by a Liquidity Funding to the Purchaser Agent of each applicable Purchaser Group, on behalf of each Investor which funded such Liquidity Funding, on (x) other than with respect to the PNC
Purchaser Group, the last day of the then current Yield Period for such Asset Tranche, and (y) with respect to the PNC Purchaser Group, on the Settlement Date following the last day of each Yield Period for such Asset
Tranche, in each case as provided in Section 3.1. 
 (ii) The Master Servicer shall pay all amounts of
Collections identified pursuant to Section 1.3(a)(ii) in respect of CP Costs on an Asset Tranche funded by Commercial Paper Notes, to the Purchaser Agent of each applicable Purchaser Group, on behalf of the applicable Purchaser in such
Purchaser Agent’s Purchaser Group, on the Settlement Date following the last day of each CP Accrual Period for such Asset Tranche, as provided in Section 3.1. 

(iii) The Master Servicer shall pay all amounts of Collections identified pursuant to Section 1.3(a)(ii) and not
applied pursuant to clauses (i) or (ii) above to each Purchaser Agent, on behalf of such Purchaser Agent’s Purchaser Group, on each Settlement Date for each Collection Period, as provided in Section 3.1. 

(iv) The Master Servicer shall pay all amounts of Collections identified pursuant to Section 1.3(b) to each
Purchaser Agent (A) on the last day of the then current Yield Period for any Asset Tranche of such Purchaser Agent’s Purchaser Group funded by a Liquidity Funding, as provided in Section 3.1(b), in an amount not exceeding such
Purchaser Group’s Tranche Investment of such Asset Tranche, and (B) on the last day of the then current CP Accrual Period for any Asset Tranche of such Purchaser Agent’s Purchaser Group funded by Commercial Paper Notes, as provided in
Section 3.1(b), in an amount not exceeding such Purchaser Group’s Tranche Investment of such Asset Tranche. 
 (d) Funds
Under Sale Agreement. Upon the written request of the Administrative Agent, at the request of any Purchaser Agent, given at any time when (i) based on the most recent Information Package, or Interim Information Package, as the case may be,
either (A) the Asset Interest would exceed the Allocation Limit, (B) any Purchaser Group’s Purchaser Group Invested 

  
 6 

 
Amount would exceed such Purchaser Group’s Purchaser Group Limit in effect at such time or, (C) the Invested Amount would exceed the Purchase Limit in effect at such time,
or (ii) a Liquidation Event or Unmatured Liquidation Event shall have occurred and be continuing, the Seller shall identify all funds that under the Sale Agreement would be applied to repay principal of the Initial Seller Notes (as defined in
the Sale Agreement) owing to the Originators. The Seller may make withdrawals of such funds only for the purposes of (x) at any time, purchasing Receivables from an Originator in accordance with the Sale Agreement; (y) on the Settlement
Date for any Collection Period, making payments in accordance with the last sentence of Section 3.1(c)(ii), and (z) on the Settlement Date for any Collection Period, if, on the basis of the most recent Information Package or Interim
Information Package, as the case may be, and after giving effect to any payment made to the Master Servicer on such date pursuant to the last sentence of Section 3.1(c)(ii), (I) the Invested Amount does not exceed the Purchase Limit
in effect at such time, (II) no Purchaser Group Invested Amount exceeds the related Purchaser Group Limit in effect at such time and (III) the Asset Interest does not exceed the Allocation Limit, and provided that no Liquidation
Event or Unmatured Liquidation Event shall have occurred and be continuing, repaying principal of the Initial Seller Notes in accordance with this Agreement and the Sale Agreement. 

Section 1.4 Asset Interest. 

(a) Components of Asset Interest. On any date the Asset Interest will represent the Investors’ undivided percentage ownership
interest in all then outstanding Pool Receivables and all Related Assets with respect to such Pool Receivables as at such date. 
 (b)
Computation of Asset Interest. On any date, the Asset Interest will be equal to the percentage equivalent of the following fraction: 

IA+RR 
 NPB 

where: 
 IA
        =       the Invested Amount on the date of such computation; 

RR        =       the Required Reserve on the date of such computation; and

 NPB     =       the Net Pool Balance on the date of such computation; 

provided, however, that the Asset Interest during the Liquidation Period shall equal 100%. 

  
 7 

 (c) Frequency of Computation. The Asset Interest shall be computed (i) as provided in
Section 3.1, as of the Cut-Off Date for each Collection Period, and (ii) on the Settlement Date following each Reporting Date, after giving effect to the payments made pursuant to Section 3.1. In addition, at any time,
the Administrative Agent, at the request of any Purchaser Agent, may require the Master Servicer to provide an interim report (an “Interim Information Package”), based on the information then available to the Master Servicer,
for purposes of computing the Asset Interest, any Purchaser Group Invested Amount or the Invested Amount as of any other date, and the Master Servicer agrees to do so within five (5) (or three (3), if a Liquidation Event, Unmatured Liquidation
Event or a Credit Event has occurred and is continuing) Business Days of its receipt of the Administrative Agent’s request (such date, the “Interim Reporting Date”). 

Article II. 

Computational Rules 

Section 2.1 Selection, Dividing or Combining of Asset Tranches. 

Each Purchaser Agent shall, from time to time for purposes of computing Earned Discount on that portion of the Asset Interest funded with
Liquidity Fundings made by such Purchaser Agent’s Purchaser Group, divide any Asset Interest into Asset Tranches or combine two or more Asset Tranches into one Asset Tranche. The applicable Earned Discount Rate may be different for each Asset
Tranche funded by a Liquidity Funding. The Purchaser Group Invested Amount of such Purchaser Agent’s Purchaser Group shall be allocated to each Asset Tranche by such Purchaser Agent, on behalf of the Investors in such Purchaser Agent’s
Purchaser Group, to reflect the funding sources for the Asset Interest, so that: 
 (a) there will be a single Asset Tranche equal to the
excess of the applicable Purchaser Group Invested Amount over the aggregate amount allocated at such time pursuant to clause (b) below, which Asset Tranche shall reflect the portion of the Asset Interest funded by Commercial Paper Notes
of the Purchasers in such Purchaser Group, if any; and 
 (b) there may be one or more Asset Tranches, selected by such Purchaser
Agent, on behalf of the Liquidity Banks in such Purchaser Agent’s Purchaser Group, reflecting the portion or portions of the Asset Interest funded by outstanding Liquidity Fundings of such Purchaser Group. 

Section 2.2 Computation of Invested Amount and Purchaser Group’s Tranche Investment. 

In making any determination of the Invested Amount, any Purchaser Group Invested Amount and any Purchaser Group’s Tranche Investment, the
following rules shall apply: 
 (a) the Invested Amount and each Purchaser Group Invested Amount, as the case may be, shall not be considered
reduced by any allocation, setting aside or distribution of any portion of Collections unless such Collections shall have been actually delivered hereunder to the appropriate Purchaser Agent, on behalf of the Investors in such Purchaser Agent’s
Purchaser Group; 

  
 8 

 
Agent’s Purchaser Group, shall notify (x) the Master Servicer (and, if Lennox is not the Master Servicer, the Seller) and the Administrative Agent from time to time of such Purchaser
Group’s Tranche Investment of each Asset Tranche and the Earned Discount Rate applicable to each Asset Tranche funded by a Liquidity Funding of such Purchaser Group and (y) the Master Servicer (and, if Lennox is not the Master Servicer,
the Seller) and, solely to the extent requested by it in its reasonable discretion, the Administrative Agent, the CP Costs applicable to each Asset Tranche funded by Commercial Paper Notes of such Purchaser Group and the rates at which fees and
other amounts are accruing hereunder. It is understood and agreed that (a) the CP Costs for any Asset Tranche funded by the issuance of Commercial Paper Notes for any Purchaser Group are determined in arrears and may change from one applicable
CP Accrual Period to the next, (b) the Earned Discount Rate for any Asset Tranche funded by a Liquidity Funding of any Purchaser Group may change from one applicable Yield Period to the next, and the Bank Rate and the PNC LIBO Rate used
to calculate the Earned Discount Rate may change from time to time during an applicable Yield Period, (c) certain rate information provided by any Purchaser Agent to the Master Servicer and the Administrative Agent shall be based upon such
Purchaser Agent’s good faith estimate, (d) the amount of Earned Discount actually accrued with respect to an Asset Tranche funded by a Liquidity Funding of any Purchaser Group during any Yield Period may exceed, or be less than, the amount
identified with respect thereto by Master Servicer, and (e) the amount of fees or other amounts payable by the Seller hereunder which have accrued hereunder with respect to any Collection Period may exceed, or be less than, the amount
identified with respect thereto by the Master Servicer. Failure to identify any amount so accrued shall not relieve the Master Servicer of its obligation to remit Collections to each Purchaser Agent, on behalf of the Investors in such Purchaser
Agent’s Purchaser Group, with respect to such accrued amount, as and to the extent provided in Section 3.1. 
 Article
III. 
 Settlements 

Section 3.1 Settlement Procedures. 

The parties hereto will take the following actions with respect to each Collection Period: 

(a) Information Package. On each Reporting Date the Master Servicer shall deliver to the Administrative Agent and each Purchaser Agent,
on behalf of such Purchaser Agent’s Purchaser Group, the relevant Information Package. 
 (b) Earned Discount and CP Costs; Other
Amounts Due. Not later than 12:00 noon (New York, New York time) on: 
 (i) the Business Day before the last day of each
Yield Period, each Purchaser Agent (other than the PNC Purchaser Agent) shall notify the Master Servicer and the Administrative Agent of the amount of Earned Discount accrued with respect to any Asset Tranche funded by a Liquidity Funding by
such Purchaser Agent’s Purchaser Group corresponding to such Yield Period; 

  
 10 

 (ii) the fifth (5th) Business Day before each Reporting Date,
(x) each Purchaser Agent shall notify the Master Servicer of the CP Costs accrued during the most recently ended CP Accrual Period with respect to any Asset Tranche funded with Commercial Paper Notes by such Purchaser Agent’s
Purchaser Group during all or any portion of such CP Accrual Period and (y) the PNC Purchaser Agent shall notify the Master Servicer and the Administrative Agent of the amount of Earned Discount accrued during the most recently ended Yield
Period with respect to each Asset Tranche funded by the PNC Purchaser Group during all or any portion of such Yield Period; 

(iii) the last day of each Yield Period, the Master Servicer shall pay to each Purchaser Agent (other than the PNC Purchaser
Agent) for the benefit of the Liquidity Banks in such Purchaser Agent’s Purchaser Group the amount of the Earned Discount accrued on the Asset Tranches of such Purchaser Group funded by Liquidity Fundings; 

(iv) each Settlement Date, the Master Servicer shall pay to (x) each Purchaser Agent for the benefit of the
Purchaser in such Purchaser Agent’s Purchaser Group the amount of the CP Costs accrued for the related CP Accrual Period on the Asset Tranches of such Purchaser Group funded with Commercial Paper Notes and (y) the PNC Purchaser Agent
for the benefit of the PNC Liquidity Banks the amount of the Earned Discount accrued for the related Yield Period on the Asset Tranches of the PNC Purchaser Group; 

(v) the Business Day before each Reporting Date, each Purchaser Agent, on behalf of such Purchaser Agent’s Purchaser
Group, shall notify the Master Servicer and the Administrative Agent of all Broken Funding Costs, fees and other amounts accrued and payable by the Seller under this Agreement to any Investor during the prior calendar month (other than amounts
described in clause (c) below); and 
 (vi) each Settlement Date, the Master Servicer shall pay to each Purchaser
Agent, for the benefit of such Purchaser Agent’s Purchaser Group, the amount of any Broken Funding Costs, fees and other amounts (to the extent of Collections attributable to the Asset Interest funded by such Purchaser Group during such
Collection Period) for such Collection Period. 
 Such payments shall be made out of amounts identified pursuant to Section 1.3
for such payment; provided, however, that to the extent Collections attributable to the Asset Interest funded by such Purchaser Group during such Collection Period are not sufficient to make such payment, such payment shall be made out
of funds paid by the Master Servicer to the Seller (which amounts the Seller hereby agrees to pay to the Master Servicer), up to the aggregate amount of Collections applied to Reinvestments under Section 1.3(a) or (b) during
the related Reporting Period. 

  
 11 

 (c) Asset Interest Computations. 

(i) On each Reporting Date, the Master Servicer shall compute, as of the related Cut-Off Date and based upon the assumptions in
the next sentence, (A) the Asset Interest, (B) the amount of the reduction or increase (if any) in the Asset Interest since the most recently preceding Cut-Off Date, (C) the excess (if any) of the Asset Interest over the Allocation
Limit, (D) the excess (if any) of the Purchaser Group Invested Amount of any Purchaser Group over such Purchaser Group’s Purchaser Group Limit in effect at such time and (E) the excess (if any) of the Invested Amount over the
Purchase Limit in effect at such time. Such calculations shall be based upon the assumptions that the (i) information in the most recently delivered Information Package is correct, and (ii) Collections identified pursuant to
Section 1.3(b) will be paid to each Purchaser Agent, for the benefit such Purchaser Agent’s Purchaser Group, on the Settlement Date for such Collection Period. 

(ii) If, according to the computations made pursuant to clause (i) above, (A) the Asset Interest exceeds the
Allocation Limit, (B) the Purchaser Group Invested Amount of any Purchaser Group exceeds such Purchaser Group’s Purchaser Group Limit in effect at such time or (C) the Invested Amount exceeds the Purchase Limit in effect at
such time, then on the related Settlement Date, the Master Servicer shall pay to the applicable Purchaser Agent, for the benefit of each Investor in such Purchaser Agent’s Purchaser Group (to the extent of Collections attributable to the
Asset Interest funded by such Purchaser Group and not previously paid to such Purchaser Agent) the amount necessary to reduce (i) the Invested Amount to the Purchase Limit in effect at such time, (ii) the Purchaser Group Invested
Amount of each Purchaser Group to such Purchaser Group’s Purchaser Group Limit in effect at such time and (iii) the Asset Interest to the Allocation Limit. Such payment shall be made out of amounts identified pursuant to
Section 1.3 for such purpose and, to the extent such amounts were not so identified, the Seller hereby agrees to pay such amounts to the Master Servicer to the extent of Collections applied to Reinvestment under Section 1.3
during the relevant Collection Period. 
 (iii) In addition to the payments described in clause (ii) above and
clause (iv) below, during the Liquidation Period, the Master Servicer shall pay to each Purchaser Agent, for the benefit of the applicable Investors in such Purchaser Agent’s Purchaser Group and for application to the reduction of
the Invested Amount, all amounts identified pursuant to Section 1.3 on (A) the last day of the current Yield Period for any Asset Tranche funded by a Liquidity Funding of such Purchaser Group, in an amount not exceeding such
Purchaser Group’s Tranche Investment of such Asset Tranche, and (B) the last day of the each CP Accrual Period for any Asset Tranche funded by Commercial Paper Notes of such Purchaser Group, in an amount not exceeding such Purchaser
Group’s Tranche Investment of such Asset Tranche. 
 (iv) On the Interim Reporting Date for each Interim Reporting
Period, the Master Servicer shall compute, as of the related Interim Cut-Off Date and based upon the assumptions in the next sentence, (A) the Asset Interest, (B) the amount of the reduction or increase (if any) in the Asset Interest since
the most recently preceding Cut-Off Date or Interim Cut-Off Date, (C) the excess (if any) of the Asset Interest over the Allocation Limit, (D) the excess (if any) of the Purchaser Group Invested Amount of any Purchaser Group over such
Purchaser Group’s Purchaser Group Limit in effect at such time and (E) the excess (if any) of the Invested Amount over the Purchase Limit in effect at such  

  
 12 

 
time. Such calculations shall be based upon the assumptions that (i) the information in the most recently delivered Interim Information Package is correct, and (ii) Collections
identified pursuant to Section 1.3(b) will be paid to each Purchaser Agent, for the benefit of such Purchaser Agent’s Purchaser Group, on the Settlement Date for such Collection Period. 

(v) If, according to the computations made pursuant to clause (iv) above, (A) the Asset Interest exceeds the
Allocation Limit, (B) the Purchaser Group Invested Amount of any Purchaser Group exceeds such Purchaser Group’s Purchaser Group Limit in effect at such time or (C) the Invested Amount exceeds the Purchase Limit in effect at
such time, then on the Interim Settlement Date for such Interim Reporting Period, the Master Servicer shall pay to the applicable Purchaser Agent, for the benefit of the Investors in such Purchaser Agent’s Purchaser Group (to the extent of
Collections during the related Interim Reporting Period attributable to the Asset Interest funded by the such Purchaser Group and not previously paid to such Purchaser Agent) the amount necessary to reduce (i) the Invested Amount to the
Purchase Limit in effect at such time, (ii) the Purchaser Group Invested Amount of any Purchaser Group to such Purchaser Group’s Purchaser Group Limit in effect at such time and (iii) the Asset Interest to the Allocation
Limit. Such payment shall be made out of amounts identified pursuant to Section 1.3 for such purpose and, to the extent such amounts were not so identified, the Seller hereby agrees to pay such amounts to the Master Servicer to the
extent of Collections applied to Reinvestment under Section 1.3 during the relevant Interim Reporting Period. 
 (d) Order of
Application. Upon receipt by each Purchaser Agent of funds distributed pursuant to this Section 3.1, such Purchaser Agent shall apply them to the items specified in the subclauses below, in the order of priority of such subclauses:

 (i) to accrued Earned Discount, CP Costs and Broken Funding Costs, plus any previously accrued Earned Discount, CP Costs
and Broken Funding Costs not paid, to the extent owing to such Purchaser Group; 
 (ii) to the Investors’ Share of such
Purchaser Agent’s Purchaser Group of the accrued and unpaid Servicing Fee (if the Master Servicer is not Lennox or its Affiliate); 

(iii) to such Purchaser Agent’s Purchaser Group’s Pro Rata Share of the Program Fee and the Unused Fee accrued during
such Collection Period, plus any previously accrued Program Fee and Unused Fee not paid on a prior Settlement Date; 
 (iv)
to the reduction of the Invested Amount on a pro-rata basis, to the extent such reduction is required under Section 3.1(c), (and a corresponding reduction to each applicable Purchaser Group’s Purchaser Group Invested Amount); 

(v) to other accrued and unpaid amounts owing to any Investor or any Agent hereunder (except Earned Discount on any Asset
Tranche funded by a Liquidity Funding of any Purchaser Group which has accrued but is not yet overdue under Section 1.3(c)); 

  
 13 

 (xi) duly executed copies of the Sale Agreement, confirmation of the Assurance
Agreement and each Fee Letter; 
 (xii) completion of satisfactory due diligence by Administrative Agent and its counsel;

 (xiii) a pro forma Information Package, prepared in respect of the proposed initial Purchase, assuming a
Cut-Off Date of October 31, 2011; 
 (xiv) written notice provided by the Seller setting forth the Seller’s Account

 (xv) such other agreements, instruments, certificates, opinions and other documents as Administrative Agent may reasonably
request. 
 (b) Each party hereto agrees and acknowledges that, in connection with the amendment and restatement of the Prior RPA pursuant to
the terms hereof, the BTMU Purchaser Group Limit (as defined in the Prior RPA) is being reduced to the amount set forth herein and the PNC Purchaser Group Limit is being added hereto. As a result thereof, the applicable Investors in the BTMU
Purchaser Group which own the Asset Interest as of the date hereof shall transfer and assign a portion of the Asset Interest to the Investors in the PNC Purchaser Group so that after giving effect thereto, each Purchaser Group shall hold its Pro
Rata Share (as determined pursuant to clause (b) of the definition thereof) of the Invested Amount outstanding at such time. On the date hereof, the applicable Investors in the PNC Purchaser Group making such purchase agree to make a cash
payment to such Investors in the BTMU Purchaser Group in an amount equal to the aggregate Invested Amount so transferred. 

Section 5.2 Conditions Precedent to All Purchases and Reinvestments. 

Each Purchase and each Reinvestment shall be subject to the conditions precedent that on the date of such Purchase or Reinvestment the
following statements shall be true (and the Seller, by accepting the amount of such Purchase or by receiving the proceeds of such Reinvestment, and each other Seller Party, upon such acceptance or receipt by the Seller, shall be deemed to have
certified that): 
 (a) the representations and warranties contained in Section 6.1 are correct in all material respects on and
as of such day as though made on and as of such day and shall be deemed to have been made on such day, 
 (b) no event has occurred and is
continuing, or would result from such Purchase or Reinvestment, that constitutes a Liquidation Event or Unmatured Liquidation Event, 
 (c)
after giving effect to each proposed Purchase or Reinvestment, the Invested Amount will not exceed the Purchase Limit in effect at such time, no Purchaser Group’s Purchaser Group Invested Amount will exceed such Purchaser Group’s
Purchaser Group Limit in effect at such time and the Asset Interest will not exceed the Allocation Limit, 

  
 23 

 
Servicing Fee, and, in the event that neither Lennox nor any other Seller Party or Affiliate thereof is the Master Servicer, all reasonable and appropriate out-of-pocket costs and expenses of the
Master Servicer of servicing, collecting and administering the Pool Receivables to the extent not covered by the Servicing Fee received by it, and (ii) the Collections of any Receivable which is not a Pool Receivable. The Master Servicer, if
other than Lennox or any other Seller Party or Affiliate thereof, shall, as soon as practicable upon demand, deliver to the Seller all documents, instruments and records in its possession that evidence or relate to Receivables of the Seller other
than Pool Receivables, and copies of documents, instruments and records in its possession that evidence or relate to Pool Receivables. 
 (f)
Termination. The Master Servicer’s authorization under this Agreement shall terminate upon the Final Payout Date. 
 (g) Power
of Attorney. The Seller hereby grants to the Master Servicer an irrevocable power of attorney, with full power of substitution, coupled with an interest, to take in the name of the Seller all steps which are necessary or advisable to endorse,
negotiate or otherwise realize on any writing or other right of any kind held or transmitted by the Seller or transmitted or received by the PurchaserMaster Servicer (whether or not from the Seller) in connection with any
Receivable. 
 Section 8.3 [Reserved]. 

Section 8.4 Servicer Defaults. 

Each of the following events shall constitute a “Servicer Default”: 

(a) any failure by the Master Servicer to make any payment, transfer or deposit or to give instructions or notice to any Agent as required by
this Agreement including, without limitation, delivery of any Information Package or Interim Information Package or any failure to make any payment or deposit required to be made in order to reduce the Asset Interest to the Allocation Limit and,
(i) in the case of failure to deliver an Information Package or Interim Information Package, as the case may be, such failure shall remain unremedied for two (2) Business Days after the earliest to occur of (A) written notice thereof
shall have been given by any Agent to the Master Servicer or (B) the Master Servicer shall have otherwise become aware of such failure and (ii) except with respect to any payment or deposit required to be made in order to reduce the Asset
Interest to the Allocation Limit which shall be made when due, in the case of failure to make any payment or deposit to be made by the Master Servicer such failure shall remain unremedied for three (3) Business Days after the due date thereof;

 (b) any failure on the part of the Master Servicer duly to observe or perform in any material respect any other covenants or agreements of
the Master Servicer set forth in this Agreement or any other Transaction Document to which the Master Servicer is a party, which failure continues unremedied for a period of 30 days after the first to occur of (i) the date on which written
notice of such failure requiring the same to be remedied shall have been given to 

  
 41 

 
Party or such Seller Party shall have otherwise become aware or (ii) any covenant applicable to such Person contained in Section 7.3 hereof or Section 6.3 of the Sale
Agreement; or 
 (d) Any Seller Party, any Originator or Lennox International shall (A) fail to pay any principal or interest,
regardless of amount, due in respect of any Indebtedness (including, without limitation, any such Indebtedness relating to the purchase of receivables or under any asset securitization agreement or arrangement) when the aggregate unpaid principal
amount is in excess of in the case of the Seller, $25,000, or in the case of Lennox International, any Originator or the Master Servicer $75,000,000 when and as the same shall become due and payable (after expiration of any applicable grace period)
or (B) fail to observe or perform any other term, covenant, condition or agreement (after expiration of any applicable grace period) contained in any agreement or instrument evidencing or governing any such Indebtedness if the effect of any
failure referred to in this clause (B) is to cause such Indebtedness to become due prior to its stated maturity; or 
 (e) An
Event of Bankruptcy shall have occurred and remain continuing with respect to Lennox International, any Originator or any Seller Party; or 

(f) The Seller shall become an “investment company” within the meaning of the Investment Company Act of 1940; or 

(g) The rolling 3 month average Dilution Ratio at any Cut-Off Date exceeds 12.00%; or 

(h) The rolling 3 month average Default Ratio at any Cut-Off Date exceeds 3.00%; or 

(i) The rolling 3 month average Delinquency Ratio at any Cut-Off Date exceeds 4.50%; or 

(j) On any Settlement Date, after giving effect to the payments made under Section 3.1(c), (i) the Asset Interest exceeds
100%, (ii) the Invested Amount exceeds the Purchase Limit in effect at such time; or (iii) the Purchaser Group Invested Amount of any Purchaser Group exceeds such Purchaser Group’s Purchaser Group Limit in effect at such
time, and, in the case of any failure to make a timely payment or deposit with respect thereto solely by reason of any mechanical delay in or malfunction of the Fedwire system or due to an error on the part of the initiating or receiving bank
such failure shall continue for more than one (1) Business Day; or 
 (k) There shall have occurred any event which materially adversely
impairs the ability of the Originators to originate Receivables of a credit quality which are at least of the credit quality of the Receivables included in the first Purchase hereunder, or any other event occurs that is reasonably likely to have a
Material Adverse Effect; or 
 (l) Any Seller Party, Originator or Lennox International is subject to a Change in Control; or 

(m) The Internal Revenue Service shall file notice of a lien pursuant to Section 6323 of the Code with regard to any of the Receivables or
Related Assets and such lien shall not have 

  
 47 

 
nature whatsoever which may be imposed on, incurred by, or asserted against the Administrative Agent in any way relating to or arising out of this Agreement or the other Transaction Documents or
any action taken or omitted by the Administrative Agent under this Agreement or the other Transaction Documents, provided that no Liquidity Bank shall be liable for any portion of such liabilities, obligations, losses, damages, penalties,
actions, judgments, suits, costs, expenses or disbursements resulting from the Administrative Agent’s breach of the applicable terms of the Transaction Documents or its own gross negligence or willful misconduct. 

Section 11.6 Purchaser Agent Authorization and Action. 

Pursuant to agreements entered into with the BTMU Purchaser Agent and the PNC Purchaser Agent, the BTMU Purchaser and
the PNC Purchaser, respectively, havehas appointed and authorized the BTMU Purchaser Agent (or its designees) and the PNC Purchaser Agent (or its designees), respectively, to take such action as agent on its behalf
and to exercise such powers under this Agreement as are delegated to the BTMU Purchaser Agent and the PNC Purchaser Agent by the terms hereof, together with such powers as are reasonably incidental thereto. 

Section 11.7 Purchaser Agent’s Reliance, Etc. 

(a) Each Purchaser Agent and its directors, officers, agents or employees shall not be liable for any action taken or omitted to be taken by it
or them in good faith under or in connection with the Transaction Documents (including, without limitation, the servicing, administering or collecting Pool Receivables as Master Servicer pursuant to Section 8.1), except for its or their
own breach of the applicable terms of the Transaction Documents or its or their own gross negligence or willful misconduct. Without limiting the generality of the foregoing, each Purchaser Agent: (a) may consult with legal counsel (including
counsel for the Seller), independent certified public accountants and other experts selected by it and shall not be liable for any action taken or omitted to be taken in good faith by it in accordance with the advice of such counsel, accountants or
experts; (b) makes no warranty or representation to any Investor or any other holder of any portion of its respective Purchaser Group’s interest in Pool Receivables and shall not be responsible to any Investor or any such other holder for
any statements, warranties or representations made by any Seller Party in or in connection with any Transaction Document; (c) shall not have any duty to ascertain or to inquire as to the performance or observance of any of the terms, covenants
or conditions of any Transaction Document on the part of any Seller Party or to inspect the property (including the books and records) of any Seller Party; (d) shall not be responsible to any Investor or any other holder of any of the its
respective Purchaser Group’s interest in Pool Receivables for the due execution, legality, validity, enforceability, genuineness, sufficiency or value of any Transaction Document; and (e) shall incur no liability under or in respect of
this Agreement by acting upon any notice (including notice by telephone where permitted herein), consent, certificate or other instrument or writing (which may be by facsimile) in good faith believed by it to be genuine and signed or sent by the
proper party or parties. 

  
 51 

 Article XII. 

Assignments 

Section 12.1 Restrictions on Assignments. 

(a) No Seller Party may assign its rights, or delegate its duties hereunder or any interest herein without the prior written consent of the
Agents (except a Seller Party may delegate certain administrative duties to an Affiliate, such as payroll, financial reporting, tax and the like, so long as such Seller Party remains liable for performance of such duties). 

(b) This Agreement and the Purchasers’ rights and obligations herein (including ownership of the Asset Interest) shall be assignable by
the Purchasers and their successors and assigns to any Eligible Assignee (including, without limitation, pursuant to a Liquidity Agreement). Each assignor of an Asset Interest or any interest therein shall notify the Administrative Agent, the
Purchaser Agent of such assignor’s Purchaser Group and the Seller of any such assignment. Each assignor of a Asset Interest or any interest therein may, in connection with any such assignment, disclose to the assignee or potential assignee any
information relating to any Seller Party or any Originator, furnished to such assignor by or on behalf of such Seller Party or by any Agent; provided that, prior to any the disclosure of any Seller Information, the assignee or potential assignee
agrees to preserve the confidentiality of any such information which is confidential in accordance with the provisions of Section 14.7 hereof. 

(c) Each Liquidity Bank may assign to any Eligible Assignee or to any other Liquidity Bank all or a portion of its rights and obligations under
this Agreement (including, without limitation, all or a portion of any Asset Interest therein owned by it); provided, however, that (i) each such assignment shall be of a constant, and not a varying, percentage of all rights and
obligations under this Agreement, (ii) the amount being assigned pursuant to each such assignment (determined as of the date of the Assignment and Acceptance Agreement with respect to such assignment) shall in no event be less than the lesser
of (x) $10,000,000 and (y) such Liquidity Bank’s Percentage of its Purchaser Group’s Purchaser Group Limit in effect at such time, (iii) the parties to each such assignment shall execute and deliver to the
Administrative Agent and the Purchaser Agent in such Liquidity Bank’s Purchaser Group, an Assignment and Acceptance Agreement, and (iv) to the extent applicable, concurrently with such assignment, such assignor Liquidity Bank shall assign
to such assignee Liquidity Bank or other Eligible Assignee an equal percentage of its rights and obligations under any Liquidity Agreement. 

(d) Notwithstanding any other provision of this Section 12.1, (i) any Liquidity Bank may at any time pledge or grant a
security interest in all or any portion of its rights (including, without limitation, rights to payment of Earned Discount) under this Agreement or under any Liquidity Agreement to secure obligations of such Liquidity Bank to a Federal Reserve Bank,
without notice to or consent of the Seller or any Agent; provided that no such pledge or grant of a security interest shall release a Liquidity Bank from any of its obligations hereunder or under such Liquidity Agreement, as the case may be, or
substitute any such pledgee or grantee for such Liquidity Bank as a party hereto or to such Liquidity Agreement, as the case may be; and (ii) each 

  
 52 

 
			
	MARKET STREET FUNDING LLC,
	as a Purchaser
		
	By:	 	  

	Name:	 	Doris Hearn
	Title:	 	Vice PresidentPNC BANK, NATIONAL
		 	 ASSOCIATION,
 as PNC Purchaser
Agent

		
	By:	 	  

	Name:	 	Robyn Reeher
	Title:	 	Vice President
	
	 PNC BANK, NATIONAL ASSOCIATION,
 as
a Liquidity Bank

		
	By:	 	  

	Name:	 	John Berry
	Title:	 	Vice President
	
	Percentage: 50.00%
	
	      [end of signatures]

 [AMENDED AND RESTATED RECEIVABLES PURCHASE AGREEMENT] 

 APPENDIX A 

DEFINITIONS 
 This is Appendix
A to the Amended and Restated Receivables Purchase Agreement dated as of November 18, 2011, among LPAC Corp., as the Seller, Lennox Industries, Inc., as the Master Servicer, Victory Receivables Corporation, as a Purchaser, Market
Street Funding LLC, as a Purchaser, BTMUNY, as the Administrative Agent, the BTMU Purchaser Agent and a Liquidity Bank and PNC, as the PNC Purchaser Agent and a Liquidity Bank (as amended, supplemented or otherwise modified from time to
time, this “Agreement”). Each reference in this Appendix A to any Section, Appendix or Exhibit refers to such Section of or Appendix or Exhibit to this Agreement. 

(A) Defined Terms. As used in this Agreement, unless the context requires a different meaning, the following terms have the meanings
indicated below: 
 A&R Sale Agreement: As defined in the Background. 

Adjusted Dilution Ratio: The 12-month rolling average of the Dilution Ratio. 

Administrative Agent: As defined in the preamble. 

Affected Party: Each Purchaser, each Liquidity Bank, any assignee or participant of any Purchaser or any Liquidity Bank, BTMUNY, any successor to
BTMUNY, as Administrative Agent or BTMU Purchaser Agent, PNC, any successor to PNC, as PNC Purchaser Agent, or any sub-agent of any Agent. 

Affiliate: With respect to any Person, any other Person controlling, controlled by, or under common control with, such Person. 

Affiliated Obligor: In relation to any Obligor, an Obligor that is an Affiliate of such Obligor. 

Agent: Any Purchaser Agent or the Administrative Agent. 

Allied: Allied Air Enterprises LLC (f/k/a Allied Air Enterprises Inc.), a Delaware corporationlimited
liability company. 
 Allocation Limit: As defined in Section 1.1. 

Asset Interest: An undivided percentage ownership interest, determined from time to time as provided in Section 1.4(b), in (i) all
then outstanding Pool Receivables and (ii) all Related Assets. 

  
 A-1 

 Asset Tranche: At any time, a portion of the Asset Interest funded by any Purchaser Group selected by such
Purchaser Group’s Purchaser Agent pursuant to and subject to the terms of Section 2.1. 
 Assignment and Acceptance: An assignment
and acceptance agreement entered into by a Liquidity Bank, an Eligible Assignee, the Purchaser Agent of such Liquidity Bank’s Purchaser Group, and the Administrative Agent, pursuant to which such Eligible Assignee may become a party to this
Agreement, in substantially the form of Exhibit D hereto. 
 Assurance Agreement: The Assurance Agreement dated as of November 25, 2009
made by Lennox International, as the same may be amended, restated, supplemented or modified from time to time in accordance with its terms. 
 Bank
Rate: For any day falling in a particular Yield Period with respect to any Asset Tranche means an interest rate per annum equal to the sum of the BTMU LIBO Rate (Reserved) or the PNC LIBORLIBO Rate
(Reserved), as applicable, for such Yield Period plus the Bank Rate Spread; provided, that in the case of (A) any Yield Period commencing on or prior to the first day ofwith respect to which any Purchaser or any
Liquidity Bank shall have notified the Purchaser Agent of such Person’s Purchaser Group that (i) the introduction of or any change in or in the interpretation of any law or regulation makes it unlawful, or any central bank or other
Governmental Authority asserts that it is unlawful, for such Person to fund such Asset Tranche at the rate described above, or (ii) due to market conditions affecting the interbank eurodollar market, funds are not reasonably available to such
Person in such market in order to enable it to fund such Asset Tranche at the rate described above (and in the case of subclause (i) or (ii) above, such Person shall not have subsequently notified such Purchaser Agent that
such circumstances no longer exist), or (B) other than with respect to a Yield Period for the PNC Purchaser Group, any Yield Period as to which the any Purchaser Agent does not receive notice or determine, by no later
than 12:00 noon (New York, New York time) on the third Business Day preceding the first day of such Yield Period, that the related Asset Tranche will be funded by Liquidity Fundings, and not by the issuance of Commercial Paper Notes, in either case,
the “Bank Rate” shall mean an interest rate per annum equal to the Base Rate in effect from time to time during such Yield Period; it being understood that, in the case of paragraph (A) above, such rate shall only apply to the Persons
affected by the circumstances described in such paragraph (A). 
 Bank Rate Spread: As defined in the Fee Letter. 

Base Rate: For any day, the rate per annum equal to the sum of the Bank Rate Spread plus the higher as of such day of (i) the Prime Rate, or
(ii) the Federal Funds Rate most recently determined by Administrative Agent, plus 1.00%; provided that for purposes of calculating the Yield Reserve in accordance with the defined term thereof “Base Rate” shall be calculated without
including the Bank Rate Spread in such calculation. For purposes of determining the Base Rate for any day, changes in the Prime Rate or the Federal Funds Rate shall be effective on the date of each such change. The Base Rate is not necessarily
intended to be the lowest rate of interest determined by BTMUNY in connection with extensions of credit. 

  
 A-2 

 BTMU Liquidity Bank: BTMUNY or any other Person providing liquidity or credit support to BTMU Purchaser
under a BTMU Liquidity Agreement. 
 BTMU Purchaser: As defined in the preamble. 

BTMU Purchaser Account: Such account set forth in a separate letter by the BTMU Purchaser Agent to the Seller and Master Servicer, or such other
account as may be specified in writing from time to time by the BTMU Purchaser Agent to the Seller and Master Servicer. 
 BTMU Purchaser Agent: As
defined in the preamble. 
 BTMU Purchaser Group: The BTMU Purchaser, the BTMU Liquidity Banks and the BTMU Purchaser Agent, together with their
respective successors, assigns and participants. 
 BTMU Purchaser Group Limit: $80,000,000.With respect to any period, the
corresponding amount for such period set forth below: 
  

					
	 Period
	  	BTMU Purchaser
Group Limit	 
	 Reporting Date in February until the date preceding the Reporting Date in March
	  	$	80,000,000	  
	 Reporting Date in March until the date preceding the Reporting Date in April
	  	$	80,000,000	  
	 Reporting Date in April until the date preceding the Reporting Date in May
	  	$	80,000,000	  
	 Reporting Date in May until the date preceding the Reporting Date in June
	  	$	90,000,000	  
	 Reporting Date in June until the date preceding the Reporting Date in July
	  	$	90,000,000	  
	 Reporting Date in July until the date preceding the Reporting Date in August
	  	$	110,000,000	  
	 Reporting Date in August until the date preceding the Reporting Date in September
	  	$	110,000,000	  
	 Reporting Date in September until the date preceding the Reporting Date in October
	  	$	110,000,000	  
	 Reporting Date in October until the date preceding the Reporting Date in November
	  	$	90,000,000	  
	 Reporting Date in November until the date preceding the Reporting Date in December
	  	$	90,000,000	  
	 Reporting Date in December until the date preceding the Reporting Date in January
	  	$	80,000,000	  
	 Reporting Date in January until the date preceding the Reporting Date in February
	  	$	80,000,000	  

  
 A-4 

 ; provided, however, that, each reference to a Reporting Date in the foregoing table shall be
determined without reference to the proviso contained in the definition of “Reporting Date”. 
 BTMUNY: As defined in the preamble.

 Business Day: A day on which commercial banks in Chicago or New York City are not authorized or required to be closed for business;
provided, that, when used with respect to the Earned Discount Rate or associated Asset Tranche based on BTMU LIBO Rate, “Business Day” means any Business Day on which banks are open for domestic and international business (including
dealings in Dollar deposits) in London, England. 
 Capital Lease: At any time, a lease with respect to which the lessee is required concurrently to
recognize the acquisition of an asset and the incurrence of a liability in accordance with GAAP. 
 Change in Control: 

(i) in relation to Lennox International, the acquisition after the date hereof by any person or group of persons (within the
meaning of Section 13 or 14 of the Exchange Act), of beneficial ownership (within the meaning of Rule 13d-3 promulgated by the Securities and Exchange Commission under the Exchange Act) of issued and outstanding shares of the capital stock of
such Person entitled (without regard to the occurrence of any contingency) to vote for the election of members of the board of directors of such Person and having a then present right to exercise 50% or more of the voting power for the election of
members of the board of directors of such Person attached to all such outstanding shares of capital stock of such Person, unless otherwise agreed in writing by the Agents; and 

(ii) in relation to the Master Servicer, the Seller or any Originator, the failure of Lennox International to own (directly or
through wholly-owned Subsidiaries of Lennox International) 100% of the issued and outstanding shares of the capital stock (including all warrants, options, conversion rights, and other rights to purchase or convert into such stock) of the Master
Servicer, the Seller or such Originator, as applicable, on a fully diluted basis. 
 Code: The Internal Revenue Code of 1986, as the same may be
amended from time to time. 
 Collateral: As defined in Section 9.1. 

Collection Account: The segregated account that may be established and maintained in the name of the Seller with JPMorgan Chase Bank, N.A., or another
commercial bank reasonably approved by the Agents. 

  
 A-5 

 Collection Period: 

(i) the period from the date of the initial Purchase to the last day of the calendar month in which such date occurs; and 

(ii) thereafter, each period from the last day of the next preceding Collection Period to the last day of the next following
calendar month; 
 provided, however, that during any period during which Weekly Reports are required to be delivered, the Collection Period
related to each related Settlement Date shall be the related Weekly Reporting Period; provided, further, however, that the last Collection Period shall end on the Final Payout Date. 

Collections: With respect to any Receivable, (i) all funds which either are received by the Seller, the Originators or the Master Servicer from or
on behalf of the related Obligor in payment of any amounts owed (including, without limitation, purchase prices, finance charges, interest and all other charges) in respect of such Receivable, or applied to such amounts owed by such Obligor
(including, without limitation, cash proceeds of Related Security with respect to such Receivable, including, without limitation, insurance payments that the Seller, the Originator or the Master Servicer applies in the ordinary course of its
business to amounts owed in respect of such Receivable and net proceeds of sale or other disposition of repossessed goods or other collateral or property of the Obligor or any other party directly or indirectly liable for payment of such Receivable
and available to be applied thereon), and (ii) all Deemed Collections; provided that, prior to such time as Lennox shall cease to be the Master Servicer, late payment charges, collection fees, extension fees and any other similar fees or
expenses billed to and collected from an Obligor shall be paid to the Master Servicer as additional compensation for the performance of its duties as Master Servicer hereunder. 

Commercial Paper Notes: The commercial paper promissory notes issued by any Purchaser in the commercial paper market. 

Contract: A contract between the Seller or the Originator and any Person, or an invoice sent or to be sent by the Seller or the Originator, pursuant to
or under which a Receivable shall arise or be created, or which evidences a Receivable. A ‘related Contract’ or similar reference means rights to payment, collection and enforcement, and other rights under a Contract to the extent directly
related to a Receivable in the Receivables Pool, but not any other rights under such Contract. 
 CP Accrual Period: Each Collection Period during
which any Asset Tranche is funded with Commercial Paper Notes. 
 CP Costs: The BTMU CP Costs and the PNC CP Costs. 

Credit Agreement: That certain Fourth Amended and Restated Revolving Credit Facility Agreement dated as of October 21, 2011 by and among Lennox
International Inc. as the borrower, certain financial institutions, as the lenders, and JPMorgan Chase Bank, National 

  
 A-6 

 Earned Discount: For each day during any Yield Period for any Asset Tranche funded with a Liquidity
Funding by any Purchaser Group: 
  

							
		  	IA x ER x ED	 	+ LF	  	
		  	360      	 	  	

 where: 
  

					
	IA	  	=	  	the daily average (calculated at the close of business each day) of such Purchaser Group’s Purchaser Group Invested Amount in such Asset Tranche on such day during such Yield Period,
			
	ER	  	=	  	the applicable Earned Discount Rate for such Yield Period,
			
	ED	  	=	  	the actual number of days elapsed during such Yield Period, and
			
	LF	  	=	  	the Liquidation Fee, if any, during such Yield Period.

 Earned Discount Rate: For any Yield Period for any Asset Tranche funded by a Liquidity Funding, the Bank Rate for
such Asset Tranche and such Yield Period; 
 provided, however, on any day when any Liquidation Event or an Unmatured
Liquidation Event shall have occurred and be continuing, the Earned Discount Rate for each Asset Tranche shall mean a rate per annum equal to the Base Rate plus 2% per annum. 

Eligible Assignee: (i) BTMUNY or any of its Affiliates, (ii) any Person managed by BTMUNY or any of its Affiliates, (iii) PNC or any of
its Affiliates, (iv) any Person managed by PNC or any of its Affiliates, or (v) any financial or other institution acceptable to the Administrative Agent, and approved by the Seller (which approval by the Seller shall not be unreasonably
withheld, delayed or conditioned and shall not be required if a Liquidation Event, Unmatured Liquidation Event or Credit Event has occurred and is continuing). 

Eligible Receivable: At any time, a Receivable: 

(i) which is a Pool Receivable arising out of the sale by an Originator in the ordinary course of its business that has been
sold or contributed to the Seller pursuant to the Sale Agreement in a “true sale” transaction; 
 (ii) as to which
the perfection of the Investors’ undivided percentage ownership interest therein is governed by the laws of a jurisdiction where the UCC is in force, and which constitutes an “account” as defined in the UCC as in effect in such
jurisdiction; 

  
 A-9 

 
Federal Funds Rate: For any day, the rate per annum equal to the weighted average of the rates on overnight federal funds transactions with members of the Federal Reserve
System arranged by federal funds brokers, as published for such day (or, if such day is not a Business Day, for the next preceding Business Day) by the Federal Reserve Bank of New York; or (b) if such rate is not so published for any day which
is a Business Day, the average of the quotations for such day on such transactions received by BTMUNY from three federal funds brokers of recognized standing selected by it. 

Federal Reserve Board: The Board of Governors of the Federal Reserve System, or any successor thereto or to the functions thereof. 

Fee Letter: For each Purchaser Group, the fee letter (including all amendments, modifications, restatements, replacements and addendums thereto)
entered into from time to time by the Seller and the members of such Purchaser Group. 
 Final Payout Date: The date following the Termination Date
on which the Invested Amount shall have been reduced to zero and all other amounts payable by the Seller under the Transaction Documents shall have been paid in full. 

Funding Termination Date: The earliest of the following: 

(i) November 15, 2013,14, 2014, or such later date as may, from time to time, be agreed to in
writing by the Agents; 
 (ii) the date on which the Agents declare a Funding Termination Date in a notice to the Seller in
accordance with Section 10.2(a); or 
 (iii) in accordance with Section 10.2(b), the Funding
Termination Date occurs automatically. 
 GAAP: Generally accepted accounting principles set forth in the opinions and pronouncements of the
Accounting Principles Board of the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or in such other statements by such accounting profession, which are applicable to
the circumstances as of the date of determination. 
 Governmental Authority: Any nation or government, any state or other political subdivision
thereof, any central bank (or similar monetary or regulatory authority) thereof, any body or entity exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government, any court or arbitrator and any
accounting board or authority (whether or not a part of government) which is responsible for the establishment or interpretation of national or international accounting principles, in each case whether foreign or domestic. 

  
 A-13 

 Liquidation Fee: For each Asset Tranche (or portion thereof) funded through a Liquidity Funding, for each
day in any Yield Period (computed without regard to clause (iii) of the proviso of the definition of “Yield Period”), the amount, if any, by which: 

(i) the additional Earned Discount (calculated without taking into account any Liquidation Fee) which would have accrued on the
reductions of the portion of the Invested Amount of the related Investor allocated to such Asset Tranche during such Yield Period (as so computed) if such reductions had not been made, exceeds 

(ii) the income, if any, received by the related Investor from investing the proceeds of such reductions of such
Investor’s portion of the Invested Amount. 
 Liquidation Period: The period commencing on the earlier of (i) the Funding Termination Date
and (ii) the date on which a Liquidation Event has occurred or is continuing and the Administrative Agent, at the direction of any Agent, shall have notified Seller and the Master Servicer in writing, pursuant to Section 10.2(a),
that the Liquidation Period has commenced, and ending on the Final Payout Date; provided, however, upon the occurrence of a Liquidation Event described in Section 10.1(e), the Liquidation Period shall commence
automatically. 
 Liquidity Agent: With respect to the BTMU Purchaser Group, BTMUNY, as liquidity agent for the Liquidity Banks under the BTMU
Liquidity Agreement, or any successor to BTMUNY in such capacity, and with respect to the PNC Purchaser Group, PNC, as liquidity agent for the Liquidity Banks under the PNC Liquidity Agreement, or any successor to PNC in
such capacity. 
 Liquidity Agreement: With respect to the BTMU Purchaser Group, the BTMU Liquidity Agreement and with respect to
the PNC Purchaser Group, the PNC Liquidity Agreement. 
 Liquidity Bank: With respect to the BTMU Purchaser Group, each BTMU Liquidity Bank
and with respect to the PNC Purchaser Group, each PNC Liquidity Bank (collectively, the Liquidity Banks). 
 Liquidity Funding: Either
(i) a purchase made by any Liquidity Bank (or simultaneous purchases made by the Liquidity Banks) from a Purchaser pursuant to any Liquidity Agreement or (ii) a Purchase made by a Liquidity Bank pursuant to Section 1.1. 

Lockbox Account: An account maintained for the purpose of receiving Collections at a bank or other financial institution which has executed a Lockbox
Agreement. 
 Lockbox Agreement: An agreement, in substantially the form of Exhibit A-1, among the Master Servicer, the Administrative Agent,
the Seller and any Lockbox Bank. 
 Lockbox Bank: Any of the banks holding one or more lockboxes or Lockbox Accounts receiving Collections from Pool
Receivables. 
 Loss Reserve: At any time, means the product of (1) 2.0 and (2) the highest rolling three month average Default Ratio
during the immediately preceding twelve (12) months and (3) the most recently calculated Default Horizon Ratio. 

  
 A-17 

 Person: An individual, partnership, corporation (including a business trust), limited liability company,
joint stock company, trust, unincorporated association, joint venture, government or any agency or political subdivision thereof or any other entity. 

Plan: Any pension plan subject to the provisions of Title IV of ERISA or Section 412 of the Code which is maintained for employees of Lennox or
any ERISA Affiliate. 
 PNC: As defined in the preamble. 

PNC CP Costs: For each day in any Yield Period with respect to any Asset Tranche funded by Commercial Paper Notes, the sum of
(a) discount or yield accrued (including, without limitation, any associated with financing the discount or interest component on the rollover of any Pooled Commercial Paper) on the PNC Purchaser’s Pooled Commercial Paper on such day
issued to fund or maintain such Asset Tranche, as determined by the PNC Purchaser Agent, plus (b) any and all accrued commissions in respect of the PNC Purchaser’s placement agents and commercial paper dealers, and issuing and paying agent
fees incurred, in respect of such Pooled Commercial Paper for such day, plus (c) other costs (including without limitation those associated with funding small or odd-lot amounts) with respect to all receivable purchase, credit and other
investment facilities which are funded by the applicable Pooled Commercial Paper for such day plus (d) on any day when any Liquidation Event or Unmatured Liquidation Event shall have occurred and be continuing, 2% per
annum (it being understood that the amounts described herein shall be determined by the PNC Purchaser Agent, whose determination shall be conclusive). 

PNC LIBO Rate: For any Yield Period, on any date of determination during such Yield Period, the interest rate per annum
determined by the PNC Purchaser Agent in accordance with its usual procedures (which determination shall be conclusive absent manifest error) to be the rate per annumequal to the one-month “Eurodollar Rate” for
deposits in U.S. dollars as reported by Bloomberg Finance L.P. and shown on US0001M Screen as the composite offered rate for London interbank deposits for such period (or on any successor or substitute page of such service, or any successor
to or substitute for such service, providing rate quotations comparable to those currently provided on such page of such service, as determined by the PNC Purchaser Agent from time to time for purposes of providing quotations of interest rates
applicable to dollar deposits in the London interbank market) at or abouton the Reuters Screen LIBOR01 Page or any other page that may replace such page from time to time for the purpose of displaying offered rates of leading banks for
London interbank deposits in United States dollars, as of 11:00 a.m. (London time two (2) Business Days before the commencement of such Yield Period) on such date, or if such day is not a Business Day, then the
immediately preceding Business Day (or if not so reported, then as determined by the PNC Purchaser Agent from another recognized source for interbank quotation) for an amount comparable to the applicable Invested Amount, in each case,
changing when and as such rates change. 
 PNC LIBO Rate Reserve Percentage: With respect to any Investor for any Yield Period in respect of
which Earned Discount is computed by reference to the PNC LIBO Rate, the maximum effective percentage in effect on such day as prescribed by the Federal Reserve Board for determining the reserve requirements (including without limitation,
supplemental, marginal, and emergency reserve requirements) with respect to eurocurrency funding (currently referred to as Eurocurrency Liabilities (as such term is defined in Regulation D)). 

  
 A-20 

 PNC LIBO Rate (Reserved): With respect to any Yield Period means a rate per annum equal to the quotient
obtained (rounded upwards, if necessary, to the next higher 1/100th of 1%) by dividing (i) the applicable PNC LIBO Rate for such Yield Period by (ii) a percentage equal to 100% minus the PNC LIBO Rate Reserve Percentage. 

PNC Liquidity Agreement: The liquidity asset purchase agreement or other liquidity agreement entered into by any PNC Liquidity
Bank for the benefit of the PNC Purchaser, to the extent relating to the sale or transfer of interests in the Asset Interest. 

PNC Liquidity Bank: PNC or any other Person providing liquidity or credit support to PNC Purchaser under a PNC Liquidity Agreement.PNC
Purchaser: As defined in the preambledesignated as such from time to time. 
 PNC Purchaser Account: Such account set forth in a
separate letter by the PNC Purchaser Agent to the Seller and Master Servicer, or such other account as may be specified in writing from time to time by the PNC Purchaser Agent to the Seller and Master Servicer. 

PNC Purchaser Agent: As defined in the preamble. 
 PNC
Purchaser Group: The PNC Purchaser, the PNC Liquidity Banks and the PNC Purchaser Agent, together with their respective successors, assigns and participants. 

PNC Purchaser Group Limit: $80,000,000.With respect to any period, the corresponding amount for such period set forth below:

  

					
	 Period
	  	PNC Purchaser Group
Limit	 
	 Reporting Date in February until the date preceding the Reporting Date in March
	  	$	80,000,000	  
	 Reporting Date in March until the date preceding the Reporting Date in April
	  	$	80,000,000	  
	 Reporting Date in April until the date preceding the Reporting Date in May
	  	$	80,000,000	  
	 Reporting Date in May until the date preceding the Reporting Date in June
	  	$	90,000,000	  
	 Reporting Date in June until the date preceding the Reporting Date in July
	  	$	90,000,000	  
	 Reporting Date in July until the date preceding the Reporting Date in August
	  	$	110,000,000	  
	 Reporting Date in August until the date preceding the Reporting Date in September
	  	$	110,000,000	  
	 Reporting Date in September until the date preceding the Reporting Date in October
	  	$	110,000,000	  

  
 A-21 

					
	 Period
	  	PNC Purchaser Group
Limit	 
	 Reporting Date in October until the date preceding the Reporting Date in November
	  	$	90,000,000	  
	 Reporting Date in November until the date preceding the Reporting Date in December
	  	$	90,000,000	  
	 Reporting Date in December until the date preceding the Reporting Date in January
	  	$	80,000,000	  
	 Reporting Date in January until the date preceding the Reporting Date in February
	  	$	80,000,000	  

 ; provided, however, that, each reference to a Reporting Date in the foregoing table shall be determined
without reference to the proviso contained in the definition of “Reporting Date”. 
 Pool Receivable: A Receivable in the Receivables
Pool. 
 Pooled Commercial Paper: Commercial Paper Notes issued by the BTMU Purchaser or the PNC Purchaser which are subject to any
particular pooling arrangement, as determined by the BTMU Purchaser Agent or the PNC Purchaser Agent (it being recognized that there may be more than one distinct group of Pooled Commercial Paper at any time). 

Preferred Stock: Any class of capital stock of a corporation that is preferred over any other class of capital stock of such corporation as to the
payment of dividends or the payment of any amount upon liquidation or dissolution of such corporation. 
 Prior RPA: As defined in the
Background. 
 Prime Rate: Refers to that fluctuating rate of interest per annum equal to the higher of the rate of interest
most recently announced by BTMUNY or its Affiliate Bank of Tokyo-Mitsubishi UFJ Trust Company, in New York, New York as its prime rate; the Prime Rate is not necessarily intended to be the lowest rate of interest determined by BTMUNY or Bank of
Tokyo-Mitsubishi UFJ Trust Company in connection with extensions of credit. 
 Program Fee: The aggregate “Program Fee” set forth in each
Fee Letter. 
 Pro Rata Share: At any time with respect to a Purchaser Group, (a) with respect to any payment to be made to such Purchaser
Group, the percentage equivalent of a fraction the numerator of which is equal to such Purchaser Group’s Purchaser Group Invested Amount at such time and the denominator of which is equal to the Invested Amount at such time and (b) with
respect to any Purchase to be made by such Purchaser Group, the percentage equivalent of a fraction, the numerator of which is equal to such Purchaser Group’s Purchaser Group Limit in effect at such time and the denominator of which is
equal to the Purchase Limit in effect at such time. 

  
 A-22 

 Purchase: As defined in Section 1.1. 

Purchase Limit: As defined in Section 1.1.With respect to any period, the corresponding amount for such period set forth
below: 
  

					
	 Period
	  	Purchase Limit	 
	 Reporting Date in February until the date preceding the Reporting Date in March
	  	$	160,000,000	  
	 Reporting Date in March until the date preceding the Reporting Date in April
	  	$	160,000,000	  
	 Reporting Date in April until the date preceding the Reporting Date in May
	  	$	160,000,000	  
	 Reporting Date in May until the date preceding the Reporting Date in June
	  	$	180,000,000	  
	 Reporting Date in June until the date preceding the Reporting Date in July
	  	$	180,000,000	  
	 Reporting Date in July until the date preceding the Reporting Date in August
	  	$	220,000,000	  
	 Reporting Date in August until the date preceding the Reporting Date in September
	  	$	220,000,000	  
	 Reporting Date in September until the date preceding the Reporting Date in October
	  	$	220,000,000	  
	 Reporting Date in October until the date preceding the Reporting Date in November
	  	$	180,000,000	  
	 Reporting Date in November until the date preceding the Reporting Date in December
	  	$	180,000,000	  
	 Reporting Date in December until the date preceding the Reporting Date in January
	  	$	160,000,000	  
	 Reporting Date in January until the date preceding the Reporting Date in February
	  	$	160,000,000	  

 ; provided, however, that, each reference to a Reporting Date in the foregoing table shall be determined
without reference to the proviso contained in the definition of “Reporting Date”. 
 Purchaser: Each of theThe
BTMU Purchaser and the PNCany other person designated as a Purchaser hereunder from time to time (collectively, the Purchasers). 

Purchaser Agent: With respect to the BTMU Purchaser, the BTMU Purchaser Agent and with respect to the PNC Purchaseritself, the
PNC Purchaser Agent (collectively, the Purchaser Agents). 
 Purchaser Agent Account: With respect to the BTMU Purchaser Agent, the BTMU
Purchaser Account and with respect to the PNC Purchaser Agent, the PNC Purchaser Account. 

  
 A-23 

 Purchaser Group: Each of the BTMU Purchaser Group and the PNC Purchaser Group (collectively, the
Purchaser Groups). 
 Purchaser Group Invested Amount: With respect to a Purchaser Group, the aggregate of the portions of the Invested Amount
outstanding at such time that were funded by such Purchaser Group. 
 Purchaser Group Limit: With respect to the BTMU Purchaser Group, the BTMU
Purchaser Group Limit in effect at such time and with respect to the PNC Purchaser Group, the PNC Purchaser Group Limit in effect at such time. 

Purchaser Group’s Tranche Investment: In relation to any Asset Tranche of any Purchaser Group, the amount of the Invested Amount allocated by the
Purchaser Agent of such Purchaser Group to that Asset Tranche pursuant to Section 2.1, provided, that at all times (i) the aggregate amounts allocated to all Asset Tranches of any Purchaser Group shall equal such Purchaser
Group’s Invested Amount and (ii) the aggregate amounts allocated to all Asset Tranches of all Purchaser Groups shall equal the Invested Amount. 

Qualifying Liquidity Bank: A Liquidity Bank with a rating of its short-term securities equal to or higher than (i) A-1 by Standard &
Poor’s and (ii) P-1 by Moody’s. 
 Receivable: Any right to payment from a Person, whether constituting an account, chattel paper,
instrument or general intangible and includes the right to payment of any interest or finance charges and other amounts with respect thereto. 

Receivables Pool: At any time all then outstanding Receivables which have been sold or contributed as capital, or purported to have been sold or
contributed as capital, by an Originator to the Seller, other than those reconveyed to an Originator pursuant to Section 3.5 of the Sale Agreement. 

Regulation D: Regulation D of the Federal Reserve Board, as the same may be amended or supplemented from time to time. 

Regulatory Change: Any change after the date of this Agreement in United States (federal, state or municipal) or foreign laws or regulations (including
Regulation D) or the adoption or making after such date of any interpretations, directives or requests applying to a class of banks (including the Liquidity Banks) of or under any United States (federal, state or municipal) or foreign, laws, or
regulations (whether or not having the force of law) by any Governmental Authority or monetary authority charged with the interpretation or administration thereof. 

Reinvestment: As defined in Section 1.3(a)(iii). 

Related Assets: (i) all rights to, but not any obligations under, all related Contracts and other Related Security related to any Pool
Receivables, (ii) all rights and interests of the Seller under the Sale Agreement in relation to any Pool Receivables, (iii) all books and records evidencing or otherwise relating to any Pool Receivables, (iv) all Lockbox Accounts and
related lock boxes and all cash and investments therein, to the extent constituting or representing the items in the following clause (v) and (v) all Collections in respect of, and other proceeds of, any Pool Receivables or any
other Related Assets. 

  
 A-24 

 Related Security: With respect to any Pool Receivable, all of the Seller’s (in the case of usage in
the Receivables Purchase Agreement) or the Originator’s (in the case of usage in the Sale Agreement) right, title and interest in and to: (i) all Contracts that relate to such Pool Receivable; (ii) all merchandise (including returned
merchandise), if any, relating to the sale which gave rise to such Pool Receivable; (iii) all security deposits and other security interests or liens and property subject thereto from time to time purporting to secure payment of such Pool
Receivable, whether pursuant to the Contract related to such Pool Receivable or otherwise; (iv) all UCC financing statements covering any collateral securing payment of such Pool Receivable (but only to the extent of the interest of the
PurchaserSeller in the respective Pool Receivable); (v) all guarantees and other agreements or arrangements of whatever character from time to time supporting or securing payment of such Pool Receivable whether pursuant
to the Contract related to such Pool Receivable or otherwise; and (vi) all insurance policies, and all claims thereunder, related to such Pool Receivable, in each case to the extent directly related to rights to payment, collection and
enforcement, and other rights with respect to such Pool Receivable. Except to the extent included in the Collateral, the interest of each Investor in any Related Security is only to the extent of the undivided percentage ownership interest of such
Investor’s Purchaser Group, as more fully described in the definition of Asset Interest. 
 Reportable Event: Any reportable event as defined in
Section 4043(b) of ERISA or the regulations issued thereunder with respect to a Plan (other than a Plan maintained by an ERISA Affiliate which is considered an ERISA Affiliate only pursuant to subsection (m) or (o) of Section 414
of the Code). 
 Reporting Date: The fifteenth day of each month or if such day is not a Business Day, the next succeeding Business Day;
provided however, that if the senior unsecured debt ratings of Lennox International Inc. by Moody’s or S&P are reduced below Ba3 or BB-, respectively, or are withdrawn by either of Moody’s or S&P or if either
Moody’s or S&P no longer provides a senior unsecured debt rating for Lennox International Inc. and, in any such case, the aggregate Invested Amount is greater than $0.00, then, in any such case, the Reporting Date will be the first Business
Day of each week. 
 Required Reserve: On any day during a Collection Period, an amount equal to the product of (i) the Net Pool Balance and
(ii) the sum of (a) the Yield Reserve on such day, (b) the Servicing Reserve on such day and (c) the greater of (I) Required Reserve Factor Floor on such day and (II) the sum of (1) the Loss Reserve on such day and
(2) the Dilution Reserve on such day. 
 Required Reserve Factor Floor: The sum of (i) an amount, as of any date of determination and
expressed as a percentage of the aggregate Unpaid Balance of Eligible Receivables as of such date, equal to the greatest of (A) the sum of the four (4) largest aggregate Unpaid Balances of Eligible Receivables for specific Obligors
(including Michel) (calculated as if each such Obligor and its Affiliated Obligors were one Obligor) who do not have a debt rating listed in clause (i) of the definition of “Obligor Concentration Limit” or who are not rated as of such
date (up to the Obligor Concentration Limit for each such Obligor), (B) the sum of the two (2) largest aggregate Unpaid Balances of Eligible Receivables for specific Obligors (calculated as if each such Obligor

  
 A-25 

 
Transaction Document, including but not limited to (i) the legal fees of Kaye Scholer LLP, counsel to the Administrative Agent, (ii) expenses incurred in connection with any due
diligence audit and (iii) out-of-pocket expenses of the Agents. 
 Twelve Month DSO: For any day, the highest Days Sales Outstanding that
occurred during the twelve (12) month period ending on such date of calculation. 
 UCC: The Uniform Commercial Code, as from time to time in
effect in the applicable jurisdiction or jurisdictions. 
 Unmatured Liquidation Event: Any event which, with the giving of notice or lapse of time,
or both, would become a Liquidation Event. 
 Unpaid Balance: With respect to any Receivable means at any time the unpaid amount thereof, but
excluding all late payment charges, delinquency charges and extension or collection fees. 
 Unused Fee: The aggregate “Unused Fee” set
forth in the Fee Letter. 
 Weekly Report: A report (for the week most recently ended) in the form of Exhibit 3.1(a)-2. 

Weekly Reporting Date: For any period during which Weekly Reports are required to be delivered, the first Business Day of each calendar week. 

Weekly Reporting Period: For any Weekly Reporting Date, the calendar week ended on the Friday immediately preceding such Weekly Reporting Date. 

Weekly Settlement Date: One Business Day following each Weekly Reporting Date. 

Weighted Average Term: On any day, the weighted average of the stated terms of all Receivables (excluding Receivables owed by an Affiliate or employee
of any Seller Party or Originator) owned by Seller on such date, weighted on the basis of the Unpaid Balance of each such Receivable, as of such date of calculation. 

Yield Period: With respect to any Asset Tranche funded by a Liquidity Funding, 

(a) the period commencing on the date of the initial Purchase of the Asset Interest, the making of such Liquidity Funding, or
the creation of such Asset Tranche pursuant to Section 2.1 (whichever is latest) and ending (x) other than in the case of an Asset Tranche funded by the PNC Purchaser Group, such number of days thereafter as the Purchaser
Agent of the Liquidity Bank making such Liquidity Funding shall select and (y) in the case of an Asset Tranche funded by the PNC Purchaser Group, on the last day of the same calendar month thereof (or, during any period during which Weekly
Reports are required to be delivered, on the last day of the same calendar week thereof); and 

  
 A-29 

 (b) thereafter, (x) other than in the case of an Asset Tranche funded by
the PNC Purchaser Group, each period commencing on the last day of the immediately preceding Yield Period for the related Asset Tranche and ending such number of days thereafter as the Purchaser Agent of the Liquidity Bank making such Liquidity
Funding shall select and (y) in the case of an Asset Tranche funded by the PNC Purchaser Group, a period of one month (or, during any period during which Weekly Reports are required to be delivered, a period of one week) commencing on the
last day of the immediately preceding Yield Period for such Asset Tranche (which period shall correspond to a calendar month (or, during any period during which Weekly Reports are required to be delivered, a calendar week); 

provided, however, that 

(i) any such Yield Period (other than a Yield Period consisting of one day) which would otherwise end on a day that is not a
Business Day shall be extended to the next succeeding Business Day (unless the related Asset Tranche shall be accruing Earned Discount at a rate determined by reference to BTMU LIBO Rate (Reserved), in which case if such succeeding Business Day is
in a different calendar month, such Yield Period shall instead be shortened to the next preceding Business Day); 
 (ii) in
the case of Yield Periods of one day for any Asset Tranche, (A) the initial Yield Period shall be the date such Yield Period commences as described in clause (a) above; and (B) any subsequently occurring Yield Period
which is one day shall, if the immediately preceding Yield Period is more than one day, be the last day of such immediately preceding Yield Period, and if the immediately preceding Yield Period is one day, shall be the next day following such
immediately preceding Yield Period; and 
 (iii) in the case of any Yield Period for any Asset Tranche which commences before
the Termination Date and would otherwise end on a date occurring after such Termination Date, such Yield Period shall end on such Termination Date and the duration of each such Yield Period which commences on or after the Termination Date for such
Asset Tranche shall be of such duration as shall be selected by the applicable Purchaser Agent. 
 Yield Reserve: On any date of determination, the
product of (i) 1.5, (ii) the Base Rate and (iii) a fraction the numerator of which is the Twelve Month DSO and the denominator of which is 360. 

(A) Other Terms. All accounting terms not specifically defined herein shall be construed in accordance with GAAP. All terms used in
Article 9 of the UCC in the State of New York, and not specifically defined herein, are used herein as defined in such Article 9. 
 (B)
Computation of Time Periods. Unless otherwise stated in this Agreement, in the computation of a period of time from a specified date to a later specified date, the word “from” means “from and including” and the words
“to” and “until” each mean “to but excluding”. 

  
 A-30 

 SCHEDULE 6.1(n) 

LIST OF OFFICES OF MASTER SERVICER AND SELLER WHERE RECORDS ARE KEPT 

Seller 
 LPAC Corp. 

2140 Lake Park Blvd. 
 Richardson, TX 75080-2254 

Master Servicer 
 Lennox Industries Inc.

 2140 Lake Park Blvd. 
 Richardson, TX 75080-2254 

400 Norris Glen Road 
 Etobicoke, ON Canada M9C 1H5 

Originators 
 Lennox Industries Inc.

 2140 Lake Park Blvd. 
 Richardson, TX 75080-2254 

400 Norris Glen Road 
 Etobicoke, ON Canada M9C 1H5 

Allied Air Enterprises Inc.LLC 

2140 Lake Park Blvd 
 Richardson, TX 75080 

215 Metropolitan Dr 
 West Columbia, SC 29170 

Lennox Hearth Products LLC 
 2140
Lake Park Blvd 
 Richardson, TX 75080 

1508 Elm Hill Pike 
 Nashville, TN
37210 

 Heatcraft Refrigeration Products LLC 

2140 Lake Park Blvd 
 Richardson, TX 75080 

10146 N. Links Drive 2175 West Park Place Boulevard  

Stone Mountain, GA 30014 

 SCHEDULE 6.1(o) 

LIST OF LOCKBOX BANKS 
 MAIN
OFFICE ADDRESS, LOCKBOX & ACCOUNT NUMBERS 
  

			
	 Lockbox
	  	 Account

		
	JPMorgan Chase Bank, N.A.	  	JPMorgan Chase Bank, N.A.
	P.O. Box 910549	  	
	Dallas, TX 75391-0549	  	07300186205
	Lennox Industries Inc.	  	
		
	JPMorgan Chase Bank, N.A.	  	
	P.O. Box 915052	  	
	Dallas, TX 75391-0549	  	
	Lennox Industries Inc.	  	
		
	JPMorgan Chase Bank, N.A.	  	JPMorgan Chase Bank, N.A.
	P.O. Box 731093	  	
	Dallas, TX 75391-0549	  	0790487748
	Lennox Industries Inc.	  	
		
	N/A	  	JPMorgan Chase Bank, N.A.
		
		  	08806319586
		
	JPMorgan Chase Bank, N.A.	  	JPMorgan Chase Bank, N.A.
	Lockbox 22325	  	
	22352 Network Place	  	1123223
	Chicago, IL 60603	  	
	Allied Air Enterprises	  	
		
	JPMorgan Chase Bank, N.A.	  	JPMorgan Chase Bank, N.A.
	Lockbox 88266	  	
	88266 Expedite Way	  	113294046
	Chicago, IL 60695	  	
	Lennox Hearth Products	  	
		
	JPMorgan Chase BankWells Fargo, N.A.	  	JPMorgan Chase BankWells
	Lockbox 904023 209026	  	Fargo, N.A.
	806 Tyvola Road, Suite 108	  	
	Charlotte, NC 28217	  	870511326 2000039509761
	2975 Regent Blvd Irving, TX 75063	  	
	Heatcraft Refrigeration Products LLC	  	
		
	Amegy Bank	  	Amegy Bank
	Dept: 895, Lockbox 4346	  	

 SCHEDULE 6.1(u) 

CAPITALIZATION OF SELLER 
 Common
Stock 
 The authorized common stock of Seller is one hundred (100) shares of $.01 par value per share of which one hundred (100) shares are
issued and outstanding and held as follows: 
 Heatcraft Technologies Inc. - 80 shares 

Lennox Industries Inc. - 10 shares 
 Heatcraft Inc. - 5 shares

 Allied Air Enterprises Inc.LLC - 5 shares 

Preferred Stock 
 The authorized preferred stock of the
Seller is up to one million (1,000,000) shares of preferred stock, par value $.01 per share, of which 28,191 shares with a liquidation value of $1,000 per share are outstanding, all of which are owned by Lennox. 

Initial Seller Note 
 None. 

 BTMU Purchaser: 

The Bank of Tokyo-Mitsubishi UFJ, Ltd. 

Securitization Group 
 1251 Avenue
of the Americas, 12th Floor 
 New York, NY 10020-1104 

Adit Reddy 
 Phone: 212-782-6957

 Fax: 212-782-6448 
 E-mail:
areddt@us.mufg.jp 
 Copies to: 
 Kaye
Scholer LLP 
 425 Park Avenue 

New York, NY 10022 
 Eric P.
Marcus, Esq. 
 Fax Number: (212) 836-6537 

E-mail: emarcus@kayescholer.com 
 PNC
Purchaser and PNC Purchaser Agent: 
 PNC Bank, National Association 

Three PNC Plaza, 4th Floor 

225 Fifth Avenue 
 Pittsburgh, PA
15222-2707 
 Attn: William Falcon 

Fax: (412) 762-9184 
 Email:
william.falcon@pncPNC.com and 

pncconduitgroup@pncPNCconduitgroup@PNC.com 

PNC Liquidity Bank: 
 PNC Bank, National
Association 
 225 Fifth Avenue , 4th Floor 

Pittsburgh, PA 15222 
 Attn: M.
Colin Warman 
 Tel: 412.768.9482 

Fax: 412.705.1225 
 Email:
colin.warman@pncPNC.com 

 EXHIBIT 1.2(a) 

FORM OF PURCHASE REQUEST 
 THE BANK OF
TOKYO-MITSUBISHI UFJ, LTD., NEW YORK BRANCH, 
 1251 Avenue of the Americas, 12th Floor 

New York, NY 10020-1104 
 PNC BANK, NATIONAL ASSOCIATION 

Three PNC Plaza, 4th Floor 
 225 Fifth Avenue 

Pittsburgh, PA 15222-2707 
 Ladies and Gentlemen: 

Reference is made to the Amended and Restated Receivables Purchase Agreement dated as of November 18, 2011 (as amended, restated,
supplemented or otherwise modified from time to time, the “Purchase Agreement”) among LPAC Corp., as the Seller, Lennox Industries Inc., as the Master Servicer (and together with Seller, collectively referred to as the
“Seller Parties”), Victory Receivables Corporation, as a purchaser (the “BTMU Purchaser”), Market Street Funding LLC , as a purchaser (the “PNC Purchaser”), The Bank of
Tokyo-Mitsubishi UFJ, Ltd., New York Branch, as administrative agent (the “Administrative Agent”), BTMU Purchaser Agent (“BTMU Purchaser Agent”) and a liquidity bank (“BTMU Liquidity
Bank”) and PNC Bank, National Association, as PNC Purchaser Agent (“PNC Purchaser Agent”) and a liquidity Bank (“PNC Liquidity Bank”). Capitalized terms defined in the Purchase Agreement
are used herein with the same meanings. 
 1. Each of the Seller Parties hereby certifies, represents and warrants to the Investors and the
Agents that on and as of the Purchase Date (as hereinafter defined): 
 (a) all applicable conditions precedent set forth in Article V
of the Purchase Agreement have been satisfied; 
 (b) each of its respective representations and warranties contained in
Section 6.1 of the Purchase Agreement will be true and correct, in all material respects, as if made on and as of the Purchase Date; 

(c) no event will have occurred and is continuing, or would result from the requested Purchase, that constitutes a Liquidation Event or
Unmatured Liquidation Event; 
 (d) after giving effect to the requested Purchase, the Invested Amount will not exceed the available Purchase
Limit in effect at such time, no Purchaser Group’s Purchaser Group Invested Amount will exceed such Purchaser Group’s Purchaser Group Invested AmountLimit in effect at such time and the Asset Interest will
not exceed the Allocation Limit; and 

 (e) the Termination Date shall not have occurred. 

2. The undersigned, as Seller hereby requests that a Purchase be made on
                    , 20     (the “Purchase Date”) in the amount of
$            . The Pro Rata Share of such amount of the BTMU Purchaser Group is $[            ] and the Pro Rata
Share of such amount of the PNC Purchaser Group is $[            ] 
 3.
Please disburse the proceeds of the Purchase as follows: 
 [Apply $             to
payment of Invested Amount due on the Purchase Date]. 
 [Wire transfer $
             to account no.              at
             Bank, in [city, state], ABA No.             , Reference:
            ]. 
 IN WITNESS WHEREOF, the Seller and the Master
Servicer have caused this Purchase Request to be executed and delivered as of this             day of
                    ,         . 

 

			
	LPAC CORP.,
	as Seller
		
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	Lennox Industries Inc., as Master Servicer
		
	By:	 	  

	Name:	 	  

	Title:	 	  

 EXHIBIT B 

[NAME OF COMPANY] 
 FORM
OF CERTIFICATE OF FINANCIAL OFFICER 
 This Certificate is made pursuant to the provisions of the Amended and Restated Receivables
Purchase Agreement dated as of November 18, 2011 (as amended, restated, supplemented or otherwise modified from time to time, the “Agreement”) among LPAC Corp., as the Seller (the “Company”),
Lennox Industries Inc., as the Master Servicer, Victory Receivables Corporation, as a purchaser, Market Street Funding LLC, as a purchaser, The Bank of Tokyo-Mitsubishi UFJ, Ltd., New York Branch, as administrative agent, BTMU
Purchaser Agent and a liquidity bank, and PNC Bank, National Association, as PNC Purchaser Agent and a liquidity bank. The capitalized terms used, but not defined, herein have the meanings assigned to them in the Agreement. 

The undersigned [Chief Financial Officer/Treasurer] of [Name of Company] (the “Company”) hereby
certifies that the financial statements being delivered concurrently herewith fairly present the financial condition, assets, liabilities and results of operations of the Company in accordance with generally accepted accounting principles
consistently applied[, subject to normal year-end audit adjustments]. 
  

			
	[NAME OF COMPANY]
		
	Name:	 	  

	Title:	 	  

	Dated:	 	  

  
 B-1

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00223-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00223-of-00352.parquet"}]]