Document:

EX-10.1

 Exhibit 10.1 

EXECUTION VERSION 

AMENDMENT AND RESTATEMENT AGREEMENT AND FIRST AMENDMENT TO GUARANTEE AND COLLATERAL AGREEMENT, dated as of
November 2, 2016 (this “Amendment Agreement”), among HARSCO CORPORATION, a Delaware corporation (the “Company”), CITIBANK, N.A., as Administrative Agent and Collateral Agent, and the Lenders party hereto. 

Reference is made to (a) the Second Amended and Restated Credit Agreement, dated as of December 2, 2015 (as amended prior to the date hereof,
the “Existing Credit Agreement”), among the Company, the Approved Borrowers (as defined therein) from time to time party thereto, the lenders from time to time party thereto and Citibank, N.A., as Administrative Agent and Collateral
Agent and (b) the Guaranty and Collateral Agreement, dated as of December 2, 2015 (as amended prior to the date hereof, the “Guarantee and Collateral Agreement”), made by the Grantors from time to time party thereto in favor of
Citibank, N.A., as Collateral Agent. Unless otherwise defined herein, terms defined in the Amended Credit Agreement (as hereinafter defined) and used herein shall have the meanings given to them in the Amended Credit Agreement. 

WHEREAS, the Company has requested an amendment to the Existing Credit Agreement pursuant to which (a) certain of the existing holders
(the “Existing Consenting RC Lenders”) of Revolving Credit Commitments (as defined in the Existing Credit Agreement) agree to extend the maturity of the existing Revolving Credit Facility (as defined in the Existing Credit
Agreement), modify the amount of their Revolving Credit Commitments (as defined in the Existing Credit Agreement) and continue as a Revolving Credit Lender under the Amended Credit Agreement; (b) certain of the existing Term Loan Lenders (as
defined in the Existing Credit Agreement) (the “Consenting Term Loan A Lenders”) agree to convert, on a cashless basis, all or part of their existing Term Loans (as defined in the Existing Credit Agreement)
(“Existing Term Loans”) to Standby Loans under the Amended Credit Agreement and to provide Revolving Credit Commitments under the Amended Credit Agreement in the amount of such Standby Loans; (c) certain financial institutions
(the “Additional Consenting RC Lenders” and, together with the Existing Consenting RC Lenders, the “Consenting RC Lenders”; the Consenting RC Lenders and the Consenting Term Loan A Lenders are referred to herein as
the “New Revolving Credit Lenders”) agree to provide new Revolving Credit Commitments under the Amended Credit Agreement; (d) certain new term lenders (the “New Term Loan B Lenders”) agree to
make new term loans under the Amended Credit Agreement in an aggregate principal amount not to exceed $550,000,000 to the Company (such new term loans, the “New Term Loan B Loans” or “Initial Term
Loans”); and (e) the Existing Credit Agreement will be amended and restated (the “Amendment and Restatement”) to reflect other terms requested by the Company; and 

WHEREAS, on the terms and conditions set forth herein, (a) each Existing Consenting RC Lender has agreed (x) to extend the maturity date
of its Revolving Credit Commitments (as defined in the Existing Credit Agreement) and (y) that its Revolving Credit Commitments under the Amended Credit Agreement will be as shown in the amounts set forth on Schedule II hereto opposite such
Existing Consenting RC Lender’s name under the heading “Existing Revolving Credit Commitment”, (b) each Consenting Term Loan A Lender has agreed 

 
(x) to convert, on a cashless basis, all or part of such Consenting Term Loan A Lender’s Existing Term Loans into Standby Loans under the Amended Credit Agreement and (y) to provide
Revolving Credit Commitments under the Amended Credit Agreement in the amount reflected for such Existing Consenting Term Loan A Lender on Schedule II hereto under the heading “Converted Revolving Loan
Commitment”, (c) each Additional Consenting RC Lender has agreed to provide Revolving Credit Commitments under the Amended Credit Agreement in the amount set forth on Schedule II hereto opposite such Additional
Consenting RC Lender’s name under the heading “Additional Revolving Credit Commitment” (the “Additional RC Commitments”), (d) each New Term Loan B Lender has agreed to provide a New Term Loan B Loan in
the amount reflected for such lender on Schedule I hereto under the heading “New Term Loan B Commitment”, and (e) each Lender party hereto agrees to the Amendment and Restatement; and 

WHEREAS, in order to effect the foregoing, the Company and the other parties hereto desire to amend and restate, as of the Amendment Effective
Date, the Existing Credit Agreement, subject to the terms and conditions set forth herein; and 
 WHEREAS, the Company has requested certain
amendments to the Guarantee and Collateral Agreement and, on the terms and conditions set forth herein, the Company, the Administrative Agent, the Collateral Agent and the Lenders party hereto agree to amend the Guarantee and Collateral Agreement as
set forth herein. 
 NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows: 
 Section 1.    Amendment
and Restatement of the Existing Credit Agreement. Effective as of the Amendment Effective Date: 

(a)    The Existing Credit Agreement is hereby amended and restated in its entirety in the form of the
Third Amended and Restated Credit Agreement set forth as Exhibit A hereto (the Existing Credit Agreement, as so amended and restated, the “Amended Credit Agreement”). 

(b)    All annexes, schedules and exhibits to the Existing Credit Agreement, in the forms thereof in effect
immediately prior to the Amendment Effective Date, will be replaced in their entirety by the annexes, schedules and exhibits attached to the Amended Credit Agreement. 

Section 2.    Concerning the Term Loans and Revolving Credit Commitments.

(a)    On the Amendment Effective Date: 

(i)    the maturity date of the Commitments (as defined in the Existing Credit Agreement) of each Existing
Consenting RC Lender will be extended to the date set forth in the Amended Credit Agreement and the Revolving Credit Commitment under the Amended Credit Agreement of each Existing Consenting RC Lender will be as shown in the amounts set forth on
Schedule II hereto opposite such Existing Consenting RC Lender’s name under the heading “Existing Revolving Credit Commitment”; 

  
 2 

 (ii)    each Consenting Term Loan A Lender’s
Existing Term Loans shall be converted, on a cashless basis, into a Standby Loan under the Amended Credit Agreement, and each Consenting Term Loan A Lender shall have a Revolving Credit Commitment under the Amended Credit Agreement, in each case, in
the amount reflected for such Existing Consenting Term Loan A Lender on Schedule II hereto under the heading “Converted Revolving Loan Commitment” (it being understood that, to the extent the sum of any
Consenting Term Loan A Lender’s Existing Term Loans and existing outstanding Standby Loans (as defined in the Existing Credit Agreement) is greater than its outstanding Standby Loans under the Amended Credit Agreement after giving effect to
this Amendment Agreement, such Consenting Term Loan A Lender shall receive a paydown of such excess as described in Section 2(b)); 

(iii)    the Revolving Credit Commitments under the Amended Credit Agreement of each Additional Consenting
RC Lender will be as set forth on Schedule II hereto opposite such Additional Consenting RC Lender’s name under the heading “Additional Revolving Credit Commitment”; and 

(iv)    each New Term Loan B Lender shall make, severally and not jointly, a New Term Loan B Loan
in Dollars in a principal amount equal to such New Term Loan B Lender’s commitment set forth on Schedule I hereto under the heading “New Term Loan B Commitment”. 

(b)    On the Amendment Effective Date, (i) all Existing Term Loans shall be converted into Standby Loans
under the Amended Credit Agreement or repaid, as applicable, and (ii) Standby Loans (as defined in the Existing Credit Agreement) outstanding under the Existing Credit Agreement will be paid down in cash, reallocated and/or continued on a cashless
basis, such that outstanding Standby Loans under the Amended Credit Agreement shall be as set forth on Schedule III hereto. The source of any required cash paydowns shall be a drawing of Standby Loans under the Amended Credit Agreement,
cash on hand, and amounts remaining from the New Term Loan B Loan described in clause (a)(iv) above after application to other corporate purposes in accordance with the Amended Credit Agreement. The conversion of Existing Term Loans into
Standby Loans under the Amended Credit Agreement as set forth herein shall constitute a repayment of principal of such Existing Term Loans, and each Consenting Term Loan A Lender agrees to accept such repayment in such form notwithstanding anything
to the contrary in the Existing Credit Agreement. 
 (c)    The “Existing Revolving Credit
Commitments”, the “Converted Revolving Loan Commitment” and the “Additional Revolving Credit Commitment” set forth on Schedule II hereto collectively shall constitute, from and after the Amendment Effective Date, the
“Initial Revolving Credit Commitments” under the Amended Credit Agreement and the other Loan Documents. The revolving advances set forth on Schedule III hereto shall constitute, from and after the Amendment Effective Date,

  
 3 

 
“Standby Loans” and “Initial Revolving Credit Loans” under the Amended Credit Agreement and the other Loan Documents. Each financial institution set forth on Schedule
II hereto shall, from and after the Amendment Effective Date, have all of the rights and obligations of a “Revolving Credit Lender” under the Amended Credit Agreement and the other Loan Documents. The terms of the Initial
Revolving Credit Commitments and the Initial Revolving Credit Loans shall be as set forth in the Amended Credit Agreement. All New Term Loan B Loans shall be “Initial Term Loans” and “Term Loans”, in each case, for all
purposes of the Amended Credit Agreement and the other Loan Documents. Each New Term Loan B Lender shall, from and after the Amendment Effective Date, have all of the rights and obligations of a “Term Loan Lender” under the
Amended Credit Agreement and the other Loan Documents. The terms of the Initial Term Loans will be as set forth in the Amended Credit Agreement. 

(d)    Each of the New Revolving Credit Lenders and each of the New Term Loan B Lenders agree that the
flow of funds shall be as set forth on the flow of funds memo on file with the Administrative Agent. 

(e)    Immediately following the effectiveness of the transactions described in Section 1, this Section 2
and Section 6, the Initial Revolving Credit Commitments of the applicable Revolving Credit Lenders and the Initial Term Loan Commitments of the applicable Term Loan Lenders shall be as set forth on Annex A to the Amended Credit Agreement.

 Section 3.    [Reserved]. 

Section 4.    Representations and Warranties. The Company hereby represents and warrants to the Administrative
Agent and each Lender party hereto that (x) no Default or Event of Default has occurred and is continuing on and as of the Amendment Effective Date after giving effect hereto and to any extension of credit requested to be made on the Amendment
Effective Date under the Amended Credit Agreement and (y) each of the representations and warranties in each of the Loan Documents is true and correct in all material respects (except that any representation and warranty that is qualified by
materiality shall be true and correct in all respects) on and as of the Amendment Effective Date after giving effect hereto and to any extension of credit requested to be made on the Amendment Effective Date under the Amended Credit Agreement
(except to the extent such representations and warranties are specifically made as of an earlier date, in which case such representations and warranties were true and correct in all material respects as of such date). 

Section 5.    Effectiveness of this Amendment Agreement. This Amendment Agreement shall become effective as of
the date hereof, subject to the satisfaction of the following conditions precedent on such date (the date on which all of such conditions shall first be satisfied, the “Amendment Effective Date”): 

(a)    the Administrative Agent shall have received duly executed counterparts hereof that, when taken
together, bear the signatures of the Loan Parties, the Administrative Agent, the Collateral Agent, each New Revolving Credit Lender (which New Revolving Credit Lenders constitute all of the requisite lenders under Section 10.01 of the Existing
Credit Agreement) and each New Term Loan B Lender; 

  
 4 

 (b)    all accrued interest, fees and other amounts owing
(whether or not then due) in respect of the existing Revolving Loans (“Existing Revolving Credit Loans”) and Existing Term Loans shall have been paid in full by the Company; 

(c)    the Administrative Agent shall have received for the benefit of each Revolving Credit Lender under
the Amended Credit Agreement an amendment fee as set forth opposite such Revolving Credit Lender’s name on Schedule IV hereto; 

(d)    the Administrative Agent shall have received for the benefit of each New Term Loan B Lender the
fees (or original issue discount) set forth in Section 2.09(b) of the Amended Credit Agreement; and 

(e)    the conditions precedent set forth in Section 5.01 of the Amended Credit Agreement shall have
been satisfied. 
 Section 6.    Departing Lenders; Assignment. 

(a)    On the Amendment Effective Date, the Company shall pay to the Administrative Agent for the account
of each lender under the Existing Credit Agreement which has no Revolving Credit Commitment or Term Loan Commitment under the Amended Credit Agreement and, without duplication, each lender under the Existing Credit Agreement that declines or fails
to consent to this Amendment Agreement (such Lenders, the “Departing Lenders”), an amount equal to all accrued interest, fees and other amounts payable for the account of the Departing Lenders under the Existing Credit Agreement.

 (b)    On the Amendment Effective Date, the Loans and Commitment (each as defined in the Existing
Credit Agreement) of each Departing Lender shall be purchased and assumed by New Revolving Credit Lenders and/or New Term Loan B Lenders in such proportions as may be necessary such that after giving effect thereto, the commitments of the New
Revolving Credit Lenders and New Term Loan B Lenders shall be as set forth in Schedule I and Schedule II hereto, as applicable, and the execution of this Amendment Agreement shall be deemed to be the execution of an Assignment and
Acceptance in respect of the foregoing. The assignments pursuant to this clause (b) shall be effective notwithstanding any failure to comply with the procedures specified in Section 10.04 and/or 2.12 of the Existing Credit
Agreement. The provisions of Sections 2.13, 2.19 and 10.05 of the Existing Credit Agreement shall continue to inure to the benefit of the Departing Lenders. 

Section 7.    Effect of Amendment; No Novation. (a) Except as expressly set forth herein or in the
Amended Credit Agreement, this Amendment Agreement shall not by implication or otherwise limit, impair, constitute a waiver of or otherwise affect the rights and remedies of the Lenders or the Agents under the Existing Credit Agreement or any other
Loan Document and shall not alter, modify, amend or in any way affect any of the terms, conditions, obligations, 

  
 5 

 
covenants or agreements contained in the Existing Credit Agreement or any other provision of the Existing Credit Agreement or of any other Loan Document, all of which are ratified and affirmed in
all respects and shall continue in full force and effect. 
 (b)    Nothing herein shall be deemed to
entitle the Company to a consent to, or a waiver, amendment, modification or other change of, any of the terms, conditions, obligations, covenants or agreements contained in the Existing Credit Agreement or any other Loan Document in similar or
different circumstances. 
 (c)    On and after the Amendment Effective Date, each reference in the
Existing Credit Agreement to “this Agreement”, “hereunder”, “hereof’, “herein”, or words of like import, and each reference to the “Credit Agreement”, in any other Loan Document shall be deemed a
reference to the Amended Credit Agreement. This Amendment Agreement shall constitute a “Loan Document” for all purposes of the Amended Credit Agreement and the other Loan Documents. On and after the Amendment Effective Date, each
reference in the Guarantee and Collateral Agreement to “this Agreement”, “hereunder”, “hereof’, “herein”, or words of like import, and each reference to the “Guarantee and Collateral Agreement”, in
any other Loan Document shall be deemed a reference to the Guarantee and Collateral Agreement, as amended by this Amendment Agreement. 

(d)    The definition of “Applicable Margin” in Section 1.01 of the Amended Credit Agreement
shall apply and be effective on and after the Amendment Effective Date. The definition of “Applicable Margin” in Section 1.01 of the Existing Credit Agreement shall apply and be effective for the period ending on, but not including,
the Amendment Effective Date. 
 (e)    In connection with (i) the conversion of the Existing Term
Loans of each Consenting Term Loan A Lender into Standby Loans under the Amended Credit Agreement, (ii) the payments referred to in Section 5(b) above and (iii) the assignments referred to Section 6 above, each Lender party hereto
hereby agrees to waive such amounts (if any) to which it is entitled to be compensated by the Borrower pursuant to Section 2.21 of the Existing Credit Agreement in connection with such conversion, payment and assignment, as applicable. 

(f)    Nothing contained in this Amendment Agreement, the Amended Credit Agreement or any other Loan
Document shall constitute or be construed as a novation of any of the obligations with respect to the Existing Revolving Credit Loans. 

  
 6 

 Section 8.    Amendment to Guarantee and Collateral
Agreement. Effective as of the Amendment Effective Date: 
 (a)    Section 1.01 of the
Guarantee and Collateral Agreement is hereby amended by: 
 (i)    the reference to “Designated
Letter of Credit” in clause (i)(y) of the definition of “Contingent Obligations” shall be replaced with “Designated Bilateral Letter of Credit”; 

(ii)    deleting the existing clause (F) of the definition of “Excluded Assets” and replacing it
with following: 
 “(F) any fee simple interest in real property having a value of less than $5,000,000”; 

(iii)    deleting the existing clause (K) of the definition of “Excluded Assets” and replacing
it with following: 
 “(K) Securitization Assets that are the subject of a Permitted Securitization Financing”; 

(iv)    deleting the definition of “Obligations” in its entirety; 

(v)    inserting the following definition in proper alphabetical order: 

““Qualified ECP Guarantor”: in respect of any Swap Obligation, any Loan Party that has total assets exceeding
$10,000,000 (or total assets exceeding such other amount so that such Loan Party is an “eligible contract participant” as defined in the Commodity Exchange Act) at the time such Swap Obligation is incurred.”; and 

(vi)    the reference to “Designated Letter of Credit Issuer” in the definition of “Secured
Parties” shall be replaced with “Designated Bilateral Letter of Credit Issuer”. 

(b)    Section 1.03 of the Guarantee and Collateral Agreement is hereby deleted in its entirety. 

(c)    Section 2.10 of the Guarantee and Collateral Agreement is hereby amended by replacing clause (b)
thereof with the following: 
 (b) [Reserved]. 

(d)    Article 3 of the Guarantee and Collateral Agreement is hereby amended by replacing clause (b)
thereof with the following: 
 (b) [Reserved]. 

  
 7 

 (e)    Section 6.05(a) is hereby amended by replacing the
proviso thereof with the following: 
 provided that (x) the aggregate amount of Collateral and proceeds thereof that
shall be applied pursuant to clauses second, third and fourth in respect of Designated Bilateral Letters of Credit shall not exceed $300,000,000 and (y) the aggregate amount of Collateral and proceeds thereof that shall be
applied pursuant to clauses second, third and fourth in respect of loans to Foreign Subsidiaries described in clause (ii) of the definition of “Cash Management Agreement” in the Credit Agreement shall not exceed
$50,000,000. The Collateral Agent may make such distributions hereunder in cash or in kind or, on a ratable basis, in any combination thereof. 

(f)    Section 6.05(c) is hereby amended by deleting the phrase “or, with respect to the limitations
set forth in Section 1.07 of the Credit Agreement, pursuant to a written request made to the Company (and the Company agrees to provide the Collateral Agent with any such information reasonably requested),” where it appears in such section.

 (g)    Section 8.15 is hereby amended by replacing the phrase “, subject to the limitations set
forth in clause (y) of the proviso to the definition of “Obligations”,” with the phrase “, subject to the limitations set forth in clause (y) of the second sentence of the definition of “Obligations” in the Credit
Agreement,” 
 (h)    Article 8 of the Guarantee and Collateral Agreement is hereby amended by
inserting Section 8.18 as follows: 
 “Section 8.18. Keepwell. Each Qualified ECP Guarantor
hereby jointly and severally absolutely, unconditionally and irrevocably undertakes to provide such funds or other support as may be needed from time to time by each other Loan Party to honor all of its obligations under this Agreement in respect of
Swap Obligations (provided, however, that each Qualified ECP Guarantor shall only be liable under this Section 8.18 for the maximum amount of such liability that can be hereby incurred without rendering its obligations under this Section 8.18, or
otherwise under this Agreement, as it relates to such Loan Party, voidable under applicable law relating to fraudulent conveyance or fraudulent transfer, and not for any greater amount). The obligations of each Qualified ECP Guarantor under
this Section 8.18 shall remain in full force and effect until the termination and release of all Obligations in accordance with the terms of this Agreement. Each Qualified ECP Guarantor intends that this Section 8.18 constitute, and this
Section 8.18 shall be deemed to constitute, a “keepwell, support, or other agreement” for the benefit of each other Loan Party for all purposes of Section 1a(18)(A)(v)(II) of the Commodity Exchange Act.” 

(i)    Schedules 1 and 4 to the Guarantee and Collateral Agreement, respectively, shall be replaced in
their entirety by the schedules attached hereto as Exhibit B-1 and Exhibit B-2 hereto. 

  
 8 

 (j)    Exhibit A to the Guarantee and Collateral Agreement is
hereby amended by replacing Section 6 thereof with the following: 
 6. [Reserved]. 

(k)    Each of Exhibit C, D and E to the Guarantee and Collateral Agreement is hereby amended by deleting
the phrase “Subject to the limitations set forth in Section 1.07 of the Credit Agreement,” where it appears in Section 2 of each such Exhibit. 

Section 9.    Governing Law. THIS AMENDMENT AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES
UNDER THIS AMENDMENT AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. 

Section 10.    Costs and Expenses. In accordance with, and subject to the limitations of,
Section 10.05 of the Amended Credit Agreement, the Company agrees to reimburse the Administrative Agent for its reasonable documented out-of-pocket expenses in connection with this Amendment Agreement, including the reasonable documented fees,
charges and disbursements of counsel for the Administrative Agent. 
 Section
11.    Counterparts. This Amendment Agreement may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed and delivered shall be deemed
an original, but all such counterparts together shall constitute but one and the same instrument. Delivery of any executed counterpart of a signature page of this Amendment Agreement by facsimile or electronic transmission shall be as effective
as delivery of a manually executed counterpart hereof. 
 Section 12.    Headings. The headings of
this Amendment Agreement are for purposes of reference only and shall not limit or otherwise affect the meaning hereof. 
 [Remainder of
page intentionally blank] 

  
 9 

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

			
	HARSCO CORPORATION, as
    Borrower
		
	By:	 	 /s/ Michael Kolinsky

	Name:	 	Michael Kolinsky
	Title:	 	Vice President – Treasurer,
Tax and Risk Management
	
	 HARSCO DEFENSE HOLDING LLC

HARSCO MINNESOTA FINANCE, INC.
 PROTRAN TECHNOLOGY
LIMITED LIABILITY COMPANY
 HARSCO MINERALS TECHNOLOGIES LLC

HARSCO FINANCIAL HOLDINGS, INC.

		
	By:	 	 /s/ Michael Kolinsky

	Name:	 	Michael Kolinsky
	Title:	 	President
	
	 HARSCO MINNESOTA LLC

HARSCO TECHNOLOGIES LLC

		
	By:	 	 /s/ Daniel King

	Name:	 	Daniel King
	Title:	 	President
	
	 HARSCO RAIL, LLC
 HARSCO
METRO RAIL, LLC

		
	By:	 	 /s/ Jay Gowan

	Name:	 	Jay Gowan
	Title:	 	President

 [Signature Page to Consent and Reaffirmation] 

 
			
	CITIBANK, N.A., as Administrative Agent and Collateral Agent
		
	By:	 	 /s/ Matthew Burke

	Name:	 	Matthew Burke
	Title:	 	Vice President

 [Signature Page to Amendment Agreement (Harsco Corporation)] 

 
			
	 GOLDMAN SACHS BANK USA, as

Lender

		
	 By:
	 	 /s/ Thomas M. Manning

	 Name:
	 	 Thomas M. Manning

	 Title:
	 	

 [Signature Page to Amendment Agreement (Harsco Corporation)] 

 
			
	 CITIBANK, N.A., as Lender and Issuing Lender

		
	 By:
	 	 /s/ Matthew Burke

	 Name:
	 	 Matthew Burke

	 Title:
	 	Vice President

 [Signature Page to Amendment Agreement (Harsco Corporation)] 

 
			
	 HSBC BANK USA, N.A., as Lender

		
	 By:
	 	 /s/ Nick Lotz

	 Name:
	 	 Nick Lotz

	 Title:
	 	Senior Vice President

 [Signature Page to Amendment Agreement (Harsco Corporation)] 

 
			
	BANK OF AMERICA, N.A., as Lender
		
	 By:
	 	 /s/ Kevin Dobosz

	 Name:
	 	 Kevin Dobosz

	 Title:
	 	Vice President

 [Signature Page to Amendment Agreement (Harsco Corporation)] 

 
			
	 ROYAL BANK OF CANADA, as Lender and Issuing Lender

		
	 By:
	 	 /s/ Ian C. Blaker

	 Name:
	 	 Ian C. Blaker

	 Title:
	 	Authorized Signatory

 [Signature Page to Amendment Agreement (Harsco Corporation)] 

 
			
	 U.S. BANK, NATIONAL ASSOCIATION, as Lender

		
	 By:
	 	 /s/ Mark Irey

	 Name:
	 	 Mark Irey

	 Title:
	 	Vice President

 [Signature Page to Amendment Agreement (Harsco Corporation)] 

 
			
	 KEYBANK NATIONAL ASSOCIATION, as Lender

		
	 By:
	 	 /s/ Marcel Fournier

	 Name:
	 	 Marcel Fournier

	 Title:
	 	Vice President

 [Signature Page to Amendment Agreement (Harsco Corporation)] 

 
			
	 PNC BANK, NATIONAL ASSOCIATION, as Lender and Issuing Lender

		
	 By:
	 	 /s/ Domenic D’Ginto

	 Name:
	 	 Domenic D’Ginto

	 Title:
	 	Senior Vice President

 [Signature Page to Amendment Agreement (Harsco Corporation)] 

 
			
	 FIFTH THIRD BANK, as Lender

		
	 By:
	 	 /s/ Susan A. Waters

	 Name:
	 	 Susan A. Waters

	 Title:
	 	 Vice President

 [Signature Page to Amendment Agreement (Harsco Corporation)] 

 
			
	 ING BANK N.V., DUBLIN BRANCH, as Lender

		
	 By:
	 	 /s/ Sean Hassett

	 Name:
	 	 Sean Hassett

	 Title:
	 	Director
		
	 By:
	 	 /s/ Padraig Matthews

	 Name:
	 	 Padraig Matthews

	 Title:
	 	Vice President

 [Signature Page to Amendment Agreement (Harsco Corporation)] 

 
			
	 KBC BANK N.V., as Lender

		
	 By:
	 	 /s/ Sheila Bermejo

	 Name:
	 	 Sheila Bermejo

	 Title:
	 	Director
		
	 By:
	 	 /s/ Thomas R. Lalli

	 Name:
	 	 Thomas R. Lalli

	 Title:
	 	Managing Director

 [Signature Page to Amendment Agreement (Harsco Corporation)] 

 CONSENT AND REAFFIRMATION 

Each of the undersigned hereby acknowledges receipt of a copy of the foregoing Amendment and Restatement Agreement (the “Amendment
Agreement”), dated as of November 2, 2016, which (x) amends and restates the Second Amended and Restated Credit Agreement dated as of December 2, 2015 (the “Existing Credit Agreement”), among Harsco Corporation, a Delaware
corporation, Citibank, N.A., as Administrative Agent, and the several lenders from time to time party thereto and (y) amends the Guaranty and Collateral Agreement, dated as of December 2, 2015 (as amended prior to the date hereof, the
“Guarantee and Collateral Agreement”), made by the Grantors from time to time party thereto in favor of Citibank, N.A., as Collateral Agent. Capitalized terms used in this Consent and Reaffirmation and not defined herein shall
have the meanings given to them in the Amended Credit Agreement (as defined in the Amendment Agreement). In connection with the execution and delivery of the Amendment Agreement, each of the undersigned (i) ratifies and affirms all the
provisions in the Amended Credit Agreement, the Guarantee and Collateral Agreement, as amended by the Amendment Agreement, and the other Loan Documents, (ii) agrees that the terms and conditions of the Loan Documents, including the security
provisions set forth therein, shall continue in full force and effect as amended thereby, and shall not be impaired or limited by the execution or effectiveness of the Amendment Agreement and (iii) acknowledges and agrees that the Collateral
continues to secure, to the fullest extent possible in accordance with the Amended Credit Agreement and the Guarantee and Collateral Agreement, as amended by the Amendment Agreement, the payment and performance of all Obligations. All
references in the Loan Documents to (i) the “Credit Agreement” shall hereafter mean and refer to the Existing Credit Agreement as amended and restated pursuant to the Amendment Agreement, (ii) the “Guarantee and Collateral
Agreement” shall hereafter mean and refer to the Guarantee and Collateral Agreement as amended pursuant to the Amendment Agreement and (iii) the term “Obligations” shall hereafter mean and refer to the Obligations as redefined in the
Amended Credit Agreement and shall include all additional Obligations resulting from or incurred pursuant to the Amended Credit Agreement. 

The terms and conditions of the Guarantee and Collateral Agreement as amended by the Amendment Agreement and the other Security Documents are
hereby reaffirmed by the Subsidiary Guarantors. 
 Dated: November 2, 2016 

[Signature Pages Follow] 

 
			
	HARSCO CORPORATION
		
	By:	 	 /s/ Michael Kolinsky

	Name:	 	Michael Kolinsky
	Title:	 	 Vice President – Treasurer,
 Tax and
Risk Management

	
	 HARSCO DEFENSE HOLDING LLC

HARSCO MINNESOTA FINANCE, INC.
 PROTRAN TECHNOLOGY
LIMITED LIABILITY COMPANY
 HARSCO MINERALS TECHNOLOGIES LLC

HARSCO FINANCIAL HOLDINGS, INC.

		
	By:	 	 /s/ Michael Kolinsky

	Name:	 	Michael Kolinsky
	Title:	 	President
	
	 HARSCO MINNESOTA LLC

HARSCO TECHNOLOGIES LLC

		
	By:	 	 /s/ Daniel King

	Name:	 	Daniel King
	Title:	 	President
	
	 HARSCO RAIL, LLC
 HARSCO
METRO RAIL, LLC

		
	By:	 	 /s/ Jay Gowan

	Name:	 	Jay Gowan
	Title:	 	President

 [Signature Page to Consent and Reaffirmation] 

 SCHEDULE I 

 

					
	 New Term Loan B Lender
	  	New Term Loan B Commitment	 
	 Goldman Sachs Bank USA
	  	$	550,000,000	  
		  	  
	  
	 
	 Total:
	  	$	550,000,000	  
		  	  
	  
	 

 SCHEDULE II 

On file with the Administrative Agent 

 SCHEDULE III 

On file with the Administrative Agent 

 SCHEDULE IV 

On file with the Administrative Agent 

 EXHIBIT A 

AMENDED CREDIT AGREEMENT 

To be attached. 

 EXECUTION VERSION 

 
  

 
 THIRD AMENDED AND RESTATED CREDIT
AGREEMENT 
 among 

HARSCO CORPORATION and 

THE APPROVED BORROWERS 

REFERRED TO HEREIN 
 as
Borrowers, 
 The Several Lenders 

from Time to Time Parties Hereto, 

CITIBANK, N.A., 
 ROYAL
BANK OF CANADA and 
 PNC BANK, NATIONAL ASSOCIATION, 

as Issuing Lenders, 

GOLDMAN SACHS BANK USA, 

CITIGROUP GLOBAL MARKETS INC., 

HSBC SECURITIES (USA) INC., 

MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED, 

RBC CAPITAL MARKETS1, 

U.S. BANK NATIONAL ASSOCIATION 

and 
 KEYBANC CAPITAL
MARKETS, 
 as Joint Bookrunners and Joint Lead Arrangers, 

PNC CAPITAL MARKETS LLC, 

as Senior Co-Manager, 

FIFTH THIRD BANK 
 and

 ING BANK N.V., 

as Co-Managers, 
 GOLDMAN
SACHS BANK USA, 
 CITIBANK, N.A., 

HSBC BANK USA, N.A., 
 as
Syndication Agents, 
 BANK OF AMERICA, N.A, 

ROYAL BANK OF CANADA, 

U.S. BANK NATIONAL ASSOCIATION, 

KEYBANK, N.A, 
 as
Documentation Agents, 
 and 

CITIBANK, N.A., 
 as
Administrative Agent and as Collateral Agent 
 Dated as of November 2, 2016 

 
  

 
  

	1 	RBC Capital Markets is a marketing name for the capital markets activities of Royal Bank of Canada and its affiliates. 

 TABLE OF CONTENTS 

 
  

 

							
		  		  	 	PAGE	  
	ARTICLE 1	  
	DEFINITIONS	  
			
	 Section 1.01.
	  	Defined Terms	  	 	7	  
	 Section 1.02.
	  	Other Definitional Provisions	  	 	58	  
	 Section 1.03.
	  	Accounting Changes	  	 	59	  
	 Section 1.04.
	  	Redenomination Of Certain Alternative Currencies	  	 	59	  
	 Section 1.05.
	  	Limited Condition Acquisitions	  	 	60	  
	 Section 1.06.
	  	Letter of Credit Amounts	  	 	60	  
	 Section 1.07.
	  	Exchange Rates; Currency Equivalents	  	 	60	  
	
	ARTICLE 2	  
	AMOUNT AND TERMS OF COMMITMENTS	  
			
	 Section 2.01.
	  	Term Loan Commitments	  	 	61	  
	 Section 2.02.
	  	Procedure for Term Loan Borrowing	  	 	61	  
	 Section 2.03.
	  	Repayment of Term Loans	  	 	61	  
	 Section 2.04.
	  	Revolving Credit Commitments	  	 	62	  
	 Section 2.05.
	  	Revolving Credit Loans	  	 	62	  
	 Section 2.06.
	  	Competitive Bid Procedure	  	 	64	  
	 Section 2.07.
	  	Standby Borrowing Procedure	  	 	66	  
	 Section 2.08.
	  	Repayment of Loans; Evidence of Debt	  	 	67	  
	 Section 2.09.
	  	Fees	  	 	68	  
	 Section 2.10.
	  	Termination or Reduction of Commitments	  	 	69	  
	 Section 2.11.
	  	Optional Prepayments	  	 	70	  
	 Section 2.12.
	  	Mandatory Prepayments	  	 	71	  
	 Section 2.13.
	  	Conversion and Continuation Options	  	 	74	  
	 Section 2.14.
	  	Minimum Amounts and Maximum Number of Eurocurrency Tranches	  	 	75	  
	 Section 2.15.
	  	Interest Rates and Payment Dates	  	 	76	  
	 Section 2.16.
	  	Default Interest	  	 	77	  
	 Section 2.17.
	  	Inability To Determine Interest Rate	  	 	77	  
	 Section 2.18.
	  	Pro Rata Treatment and Payments	  	 	78	  
	 Section 2.19.
	  	Requirements of Law	  	 	81	  
	 Section 2.20.
	  	Taxes	  	 	82	  
	 Section 2.21.
	  	Indemnity	  	 	86	  
	 Section 2.22.
	  	Illegality	  	 	86	  
	 Section 2.23.
	  	Change of Lending Office	  	 	88	  
	 Section 2.24.
	  	Incremental Credit Extensions	  	 	88	  
	 Section 2.25.
	  	Approved Borrowers	  	 	91	  
	 Section 2.26.
	  	Cash Collateral	  	 	92	  
	 Section 2.27.
	  	Defaulting Lenders	  	 	93	  
	 Section 2.28.
	  	Additional Costs	  	 	95	  

							
	 Section 2.29.
	  	Extension of Loans	  	 	96	  
	 Section 2.30.
	  	Refinancing Amendments	  	 	98	  
	
	ARTICLE 3	  
	LETTERS OF CREDIT	  
			
	 Section 3.01.
	  	L/C Commitment	  	 	100	  
	 Section 3.02.
	  	Procedure for Issuance of Letter of Credit	  	 	101	  
	 Section 3.03.
	  	Fees and Other Charges	  	 	101	  
	 Section 3.04.
	  	L/C Participations	  	 	102	  
	 Section 3.05.
	  	Reimbursement Obligation of the Borrowers	  	 	103	  
	 Section 3.06.
	  	Obligations Absolute	  	 	104	  
	 Section 3.07.
	  	Letter of Credit Payments	  	 	105	  
	 Section 3.08.
	  	Applications	  	 	105	  
	 Section 3.09.
	  	Resignation	  	 	105	  
	 Section 3.10.
	  	Additional Issuing Lenders	  	 	105	  
	
	ARTICLE 4	  
	REPRESENTATIONS AND WARRANTIES	  
			
	 Section 4.01.
	  	Financial Condition	  	 	106	  
	 Section 4.02.
	  	No Change	  	 	106	  
	 Section 4.03.
	  	Corporate Existence; Compliance with Law	  	 	106	  
	 Section 4.04.
	  	Corporate Power; Authorization; Enforceable Obligations	  	 	106	  
	 Section 4.05.
	  	No Legal Bar	  	 	107	  
	 Section 4.06.
	  	No Material Litigation	  	 	107	  
	 Section 4.07.
	  	No Default	  	 	107	  
	 Section 4.08.
	  	Ownership of Property; Liens; Insurance	  	 	107	  
	 Section 4.09.
	  	Intellectual Property	  	 	108	  
	 Section 4.10.
	  	Taxes	  	 	108	  
	 Section 4.11.
	  	Federal Regulations	  	 	109	  
	 Section 4.12.
	  	Labor Matters	  	 	109	  
	 Section 4.13.
	  	ERISA	  	 	109	  
	 Section 4.14.
	  	Investment Company Act	  	 	109	  
	 Section 4.15.
	  	Subsidiaries	  	 	110	  
	 Section 4.16.
	  	Environmental Matters	  	 	110	  
	 Section 4.17.
	  	Accuracy of Information, Etc	  	 	111	  
	 Section 4.18.
	  	Security Documents	  	 	111	  
	 Section 4.19.
	  	Solvency	  	 	112	  
	 Section 4.20.
	  	Sanctioned Persons	  	 	112	  
	 Section 4.21.
	  	Foreign Corrupt Practices Act	  	 	112	  
	Section 4.22.	  	Use of Proceeds	  	 	112	  

  
 ii 

 ARTICLE 5 

CONDITIONS PRECEDENT 
  

							
	 Section 5.01.
	  	Conditions to Effectiveness of this Agreement and the Initial Extension of Credit	  	 	112	  
	 Section 5.02.
	  	First Borrowing By Each Approved Borrower	  	 	114	  
	 Section 5.03.
	  	Conditions to each Extension of Credit	  	 	115	  
	
	ARTICLE 6	  
	AFFIRMATIVE COVENANTS	  
			
	 Section 6.01.
	  	Financial Statements	  	 	116	  
	 Section 6.02.
	  	Certificates; Other Information	  	 	117	  
	 Section 6.03.
	  	Payment of Taxes	  	 	118	  
	 Section 6.04.
	  	Conduct of Business and Maintenance of Existence; Compliance	  	 	119	  
	 Section 6.05.
	  	Maintenance of Property; Insurance	  	 	119	  
	 Section 6.06.
	  	Inspection of Property; Books and Records; Discussions; Maintenance of Ratings	  	 	120	  
	 Section 6.07.
	  	Notices	  	 	120	  
	 Section 6.08.
	  	Additional Collateral, Etc	  	 	121	  
	 Section 6.09.
	  	Further Assurances	  	 	123	  
	 Section 6.10.
	  	Use of Proceeds	  	 	124	  
	 Section 6.11.
	  	Designation of Subsidiaries	  	 	124	  
	 Section 6.12.
	  	Post Closing Matters	  	 	124	  
	
	ARTICLE 7	  
	NEGATIVE COVENANTS	  
			
	 Section 7.01.
	  	Financial Covenants	  	 	125	  
	 Section 7.02.
	  	Limitation on Indebtedness	  	 	126	  
	 Section 7.03.
	  	Limitation on Liens	  	 	129	  
	 Section 7.04.
	  	Limitation on Fundamental Changes	  	 	131	  
	 Section 7.05.
	  	Limitation on Disposition of Property	  	 	132	  
	 Section 7.06.
	  	Limitation on Restricted Payments	  	 	134	  
	 Section 7.07.
	  	Limitation on Investments	  	 	136	  
	 Section 7.08.
	  	Limitation on Optional Payments and Modifications of Debt Instruments, Etc	  	 	137	  
	 Section 7.09.
	  	Limitation on Transactions with Affiliates	  	 	138	  
	 Section 7.10.
	  	Limitation on Sales and Leasebacks	  	 	138	  
	 Section 7.11.
	  	Limitation on Changes in Fiscal Periods	  	 	138	  
	 Section 7.12.
	  	Limitation on Negative Pledge Clauses	  	 	138	  
	 Section 7.13.
	  	Limitation on Restrictions on Subsidiary Distributions	  	 	139	  
	 Section 7.14.
	  	Limitation on Lines of Business	  	 	140	  
	 Section 7.15.
	  	Limitation on Hedge Agreements	  	 	140	  
	Section 7.16.	  	Use Of Proceeds	  	 	140	  

  
 iii 

 ARTICLE 8 

EVENTS OF DEFAULT 

ARTICLE 9 
 THE
ADMINISTRATIVE AGENT AND THE COLLATERAL AGENT 
  

							
	 Section 9.01.
	  	Appointment and Authority	  	 	144	  
	 Section 9.02.
	  	Duties of Administrative Agent; Exculpatory Provisions	  	 	145	  
	 Section 9.03.
	  	Delegation of Duties	  	 	146	  
	 Section 9.04.
	  	Resignation of Agent	  	 	146	  
	 Section 9.05.
	  	Non-Reliance on Agent and other Lenders	  	 	147	  
	
	ARTICLE 10	  
	MISCELLANEOUS	  
			
	 Section 10.01.
	  	Amendments and Waivers	  	 	147	  
	 Section 10.02.
	  	Notices	  	 	151	  
	 Section 10.03.
	  	No Waiver; Cumulative Remedies	  	 	154	  
	 Section 10.04.
	  	Survival of Agreement	  	 	154	  
	 Section 10.05.
	  	Payment of Expenses; Indemnity	  	 	155	  
	 Section 10.06.
	  	Successors and Assigns; Participations and Assignments	  	 	157	  
	 Section 10.07.
	  	Adjustments; Set Off	  	 	164	  
	 Section 10.08.
	  	Counterparts	  	 	165	  
	 Section 10.09.
	  	Severability	  	 	165	  
	 Section 10.10.
	  	Integration	  	 	165	  
	 Section 10.11.
	  	GOVERNING LAW	  	 	165	  
	 Section 10.12.
	  	Submission to Jurisdiction; Waivers	  	 	166	  
	 Section 10.13.
	  	Judgment Currency	  	 	166	  
	 Section 10.14.
	  	Acknowledgments	  	 	167	  
	 Section 10.15.
	  	Confidentiality	  	 	167	  
	 Section 10.16.
	  	Release of Collateral and Guarantee Obligations	  	 	168	  
	 Section 10.17.
	  	WAIVERS OF JURY TRIAL	  	 	169	  
	 Section 10.18.
	  	USA PATRIOT Act Notice	  	 	169	  
	 Section 10.19.
	  	Replacement Lenders	  	 	169	  
	 Section 10.20.
	  	Headings	  	 	171	  
	 Section 10.21.
	  	Lender Action	  	 	171	  
	 Section 10.22.
	  	Interest Rate Limitation	  	 	171	  
	 Section 10.23.
	  	Joint and Several Liability	  	 	171	  
	 Section 10.24.
	  	Specified Cash Management Agreements / Specified Hedge Agreements / Designated Bilateral Letters of Credit	  	 	172	  
	 Section 10.25.
	  	No Advisory or Fiduciary Responsibility	  	 	172	  
	 Section 10.26.
	  	Keepwell	  	 	172	  
	 Section 10.27.
	  	Acknowledgment and Consent to Bail-In of EEA Financial Institutions	  	 	173	  

  
 iv 

 ANNEXES: 
  

	A	Commitments 

 SCHEDULES: 
  

			
	1.01	 	Existing Designated Bilateral Letters of Credit
	2.25	 	Approved Borrowers
	4.04	 	Consents, Authorizations, Filings and Notices
	4.06	 	Material Litigation
	4.09	 	Intellectual Property
	4.15(a)	 	Subsidiaries
	4.15(b)	 	Rights in Capital Stock
	4.18(c)	 	Real Property
	6.12	 	Mortgaged Properties / Civil Aircraft Airframe and Engines Collateral / Notes Collateral
	7.02(d)	 	Existing Indebtedness
	7.03(f)	 	Existing Liens
	7.07	 	Existing Investments
	7.12	 	Existing Limitations on Negative Pledge Clauses
	7.13	 	Existing Limitations on Restrictions on Subsidiary Distributions
	
	EXHIBITS:  

	A-1	 	Form of Competitive Bid Request
	A-2	 	Form of Notice of Competitive Bid Request
	A-3	 	Form of Competitive Bid
	A-4	 	Form of Competitive Bid/Accept Reject Letter
	A-5	 	Form of Standby Borrowing Request
	A-6	 	Form of Term Loan Borrowing Request
	A-7	 	Form of Interest Election Request
	B	 	Form of Compliance Certificate
	C	 	[Reserved]
	D	 	Form of Assignment and Acceptance
	E	 	[Reserved]
	F-1	 	Form of Term Note
	F-2	 	Form of Revolving Credit Note
	G-1	 	Form of Exemption Certificate (For Non-US Lenders That Are Not Partnerships)
	G-2	 	Form of Exemption Certificate (For Non-US Lenders That Are Partnerships)
	G-3	 	Form of Exemption Certificate (For Non-US Participants That Are Not Partnerships)
	G-4	 	Form of Exemption Certificate (For Non-US Participants That Are Partnerships)
	H	 	Form of Designation Letter
	I	 	Form of Affiliate Subordination Agreement
	J	 	Auction Procedures
	K	 	Form of Termination Letter
	L	 	Form of Solvency Certificate
	M	 	Form of Guarantee and Collateral Agreement

  
 v 

 THIRD AMENDED AND RESTATED CREDIT AGREEMENT (this “Agreement”), dated as of
November 2, 2016, among HARSCO CORPORATION, a Delaware corporation (the “Company”), the APPROVED BORROWERS from time to time parties to this Agreement, the several banks and other financial institutions or entities from time to time
parties to this Agreement (the “Lenders”), CITIBANK, N.A., ROYAL BANK OF CANADA and PNC BANK, NATIONAL ASSOCIATION, as Issuing Lenders, CITIBANK, N.A., as Administrative Agent (in such capacity, including any successor thereto, the
“Administrative Agent”) and as collateral agent (in such capacity, including any successor thereto, the “Collateral Agent”) for the Lenders. 

WHEREAS, the Company has requested that the Lenders lend to the Company $550,000,000 in the form of Term Loans (such capitalized term and all
other capitalized terms used but not defined in these introductory statements having the meaning specified in Section 1.01), and make available to the Company and the Approved Borrowers a $400,000,000 revolving credit facility for the making of
Revolving Credit Loans and the issuance of Letters of Credit from time to time. The proceeds from the Term Loans and the Revolving Loans made on the Closing Date will be used on the Closing Date to (i) refinance all of the loans and
commitments outstanding under the Existing Credit Agreement (as defined below), (ii) repay and discharge in full all of the Company’s obligations in respect of the 2018 Senior Notes (as defined below), and (iii) pay the costs and
expenses related thereto (collectively, the “Transactions”). After the Closing Date, the Letters of Credit and proceeds under the Revolving Credit Loans will be used to (x) fund working capital and for general corporate
purposes of the Company and its subsidiaries (including capital expenditures and Permitted Acquisitions (as defined below)) and (y) pay fees and expenses in connection with the foregoing transactions. 

WHEREAS, the applicable Lenders have indicated their willingness to lend on the terms and subject to the conditions set forth herein. 

WHEREAS, the Company and the Approved Borrowers are party to that certain Second Amended and Restated Agreement dated as of December 2,
2015 (as amended, supplemented or otherwise modified from time to time prior to the date hereof, the “Existing Credit Agreement”), with the lenders party thereto from time to time (the “Original Lenders”) and
Citibank, N.A., as administrative agent, pursuant to which the Original Lenders extended or committed to extend certain credit facilities to the Borrowers. 

WHEREAS, pursuant to the Amendment and Restatement Agreement and upon satisfaction of the conditions set forth therein, the Existing Credit
Agreement is being further amended and restated on the Closing Date in the form of this Agreement in connection with the Transactions. 

  
 6 

 NOW, THEREFORE, in consideration of the mutual covenants and agreements herein contained, the
parties hereto covenant and agree as follows: 
 ARTICLE 1 

DEFINITIONS 

Section 1.01.    Defined Terms. As used in this Agreement, the terms listed in this Section 1.01 shall have the
respective meanings set forth in this Section 1.01. 
 “2008 Indenture”: that certain indenture, dated as of
May 15, 2008 by and between the Company and The Bank of New York, as trustee (together with its successors and assigns in such capacity, the “2018 Senior Note Trustee”), as supplemented by that certain First Supplemental
Indenture, dated as of May 15, 2008, by and between the Company and the 2018 Senior Note Trustee. 
 “2018 Senior
Notes”: the Notes issued on May 15, 2008 under the 2008 Indenture. 
 “Accepting Lenders”: as
defined in Section 2.29. 
 “Accounting Change”: as defined in Section 1.03. 

“Additional Lender” : at any time, any Person that is not an existing Lender and that agrees to provide any portion of
any (a) Incremental Facilities in accordance with Section 2.24 or (b) Credit Agreement Refinancing Debt pursuant to a Refinancing Amendment in accordance with Section 2.30; provided that such Additional Lender shall be (x) with
respect to Incremental Term Loans, Incremental Term Loan Commitments, Other Term Loans or Other Term Commitments, an institution that would be an Eligible Assignee with respect to Term Loans and (y) with respect to Incremental Revolving Credit
Commitments or Other Revolving Credit Commitments, an institution that would be an Eligible Assignee with respect to Revolving Credit Commitments; provided further, that (i) the Administrative Agent and each Issuing Lender shall
have consented (not to be unreasonably withheld or delayed) to such Additional Lender if a consent to an assignment to such Person by the Administrative Agent or such Issuing Lender, as applicable, would be required pursuant to Section 10.06 and
(ii) the Company shall have consented to such Additional Lender if a consent to an assignment to such Person by the Company would be required pursuant to Section 10.06. 

“Adjusted EURIBO Rate”: with respect to any Eurocurrency Borrowing in Euros under the Revolving Credit Facility, for any
Interest Period, an interest rate per annum (rounded upwards, if necessary, to the next 1/16 of 1%) equal to (a) the EURIBO Rate for such Interest Period multiplied by (b) the Statutory Reserve Rate. 

“Adjusted LIBO Rate”: with respect to any Eurocurrency Borrowing in Dollars or any Alternative Currency (other than
Euros), for any Interest Period, an interest rate per annum (rounded upwards, if necessary, to the next 1/16 of 1%) equal to (i) the LIBO Rate for such Interest Period multiplied by (ii) the Statutory Reserve Rate; provided
that, with respect to any Eurocurrency Borrowing that is denominated in an Alternative Currency (other than Euros) for any Interest Period, Adjusted LIBO Rate shall mean an interest rate per annum (rounded upwards, if necessary, to the next 1/16 of
1%) equal to the LIBO Rate for such Interest Period. 
 “Administrative Agent”: as defined in the recitals to this
Agreement. 

  
 7 

 “Administrative Questionnaire”: an Administrative Questionnaire in a form
supplied by the Administrative Agent. 
 “Affiliate”: as to any Person, any other Person that, directly or indirectly,
is in control of, is controlled by, or is under common control with, such Person. For purposes of this definition, “control” of a Person means the power, directly or indirectly, to direct or cause the direction of the
management and policies of such Person, whether by contract or otherwise. 
 “Affiliate Subordination Agreement”: an
Affiliate Subordination Agreement substantially in the form of Exhibit I pursuant to which intercompany obligations and advances owed by any Loan Party to a non-Loan Party are subordinated to the Obligations. 

“Agents”: the collective reference to the Administrative Agent, the Collateral Agent, the Senior Co-Managers, the
Co-Managers, the Documentation Agents, the Joint Bookrunners and Joint Lead Arrangers and the Syndication Agents. 
 “Aggregate
Exposure”: with respect to any Lender at any time, an amount equal to the sum of (i) the aggregate then unpaid principal amount of such Lender’s Term Loans and (ii) the amount of such Lender’s Revolving Credit
Commitment then in effect or, if the Revolving Credit Commitments have been terminated, the amount of such Lender’s Revolving Extensions of Credit then outstanding. 

“Agreement”: this Third Amended and Restated Credit Agreement, as amended, supplemented or otherwise modified from time
to time. 
 “Alternative Currency”: Euros and Sterling. 

“Alternative Currency Borrowing”: a Borrowing comprised of Alternative Currency Loans. All Alternative Currency
Borrowings shall be Eurocurrency Borrowings. 
 “Alternative Currency Equivalent”: with respect to any amount of
Dollars on any date in relation to any specified Alternative Currency, the amount of such specified Alternative Currency that may be purchased with such amount of Dollars at the Spot Exchange Rate with respect to Dollars on such date. The term
“Alternative Currency Equivalent” may be preceded by a reference to an Alternative Currency (e.g., “EUR Alternative Currency Equivalent”), in which case the Alternative Currency so referenced shall be the
“specified” Alternative Currency. 
 “Alternative Currency Loan”: any Revolving Credit Loan denominated in
an Alternative Currency. 
 “Amendment and Restatement Agreement”: the Amendment and Restatement Agreement and First
Amendment to Guarantee and Collateral Agreement dated the date hereof among the Loan Parties, the Lenders party thereto, the Administrative Agent and the Collateral Agent. 

“Annual Financial Statements”: the audited consolidated balance sheet of the Company as of each of December 31,
2015 and 2014 and the related audited consolidated statements of operations and cash flows for the Company for each of the fiscal years ended December 31, 2015 and 2014. 

  
 8 

 “Applicable Margin”:

(a)    with respect to the Initial Term Loans, a percentage per annum equal to (i) until delivery of the first Compliance
Certificate to the Administrative Agent after the Closing Date, (A) with respect to Eurocurrency Loans, 5.00% and (B) with respect to Base Rate Loans, 4.00% and (ii) thereafter, the following percentages per annum, based upon the Total Net
Leverage Ratio as set forth in the most recent Compliance Certificate received by the Administrative Agent pursuant to Section 6.02(b) 
  

							
	 Pricing

Level
	 	 Total Net Leverage Ratio
	 	 Eurocurrency

Loans
	 	 Base Rate

Loans

	1	 	< 2.00:1.00	 	4.75%	 	3.75%
	2	 	3 2.00:1.00	 	5.00%	 	4.00%

 ; and 

(b)    with respect to the Initial Revolving Credit Loans, a percentage per annum equal to (i) until delivery of the
first Compliance Certificate to the Administrative Agent after the Closing Date, (A) with respect to Eurocurrency Loans, 2.50% and (B) with respect to Base Rate Loans, 1.50% and (ii) thereafter, the following percentages per annum,
based upon the Total Leverage Ratio as set forth in the most recent Compliance Certificate received by the Administrative Agent pursuant to Section 6.02(b): 
  

							
	 Pricing

Level
	 	 Total Leverage Ratio
	 	 Eurocurrency

Loans
	 	 Base Rate

Loans

	 1
	 	< 1.75:1.00	 	1.875%	 	0.875%
	 2
	 	3 1.75:1.00 and 
< 2.00:1.00	 	2.00%	 	1.00%
	 3
	 	3 2.00:1.00 and 
< 2.25:1.00	 	2.25%	 	1.25%
	 4
	 	3 2.25:1.00 and 
< 3.25:1.00	 	2.50%	 	1.50%
	 5
	 	3 3.25:1.00	 	3.00%	 	2.00%

  
 9 

 Any increase or decrease in the Applicable Margin resulting from a change in the Total Net Leverage Ratio or the
Total Leverage Ratio shall become effective as of the first Business Day immediately following the date a Compliance Certificate is delivered pursuant to Section 6.02(b); provided, that (x) upon the request of the Majority Revolving Credit
Facility Lenders, the highest Pricing Level in the chart in clause (b) above shall apply as of the first Business Day after the date on which a Compliance Certificate was required to have been delivered but was not delivered, and shall continue to
so apply up to and including the date on which such Compliance Certificate is so delivered (and thereafter the applicable Pricing Level set forth in the chart in clause (b) above otherwise determined in accordance with this definition shall apply)
and (y) upon the request of the Majority Term Loan Facility Lenders, the highest Pricing Level in the chart set forth in clause (a) above shall apply as of the first Business Day after the date on which a Compliance Certificate was required to have
been delivered but was not delivered, and shall continue to so apply up to and including the date on which such Compliance Certificate is so delivered (and thereafter the applicable Pricing Level set forth in the chart in clause (a) above otherwise
determined in accordance with this definition shall apply). In the event that any Compliance Certificate is shown by the Administrative Agent to be inaccurate (whether as a result of an inaccuracy in the financial statements on which such
Compliance Certificate is based, a mistake in calculating the applicable Total Net Leverage Ratio or the applicable Total Leverage Ratio or otherwise) at any time that this Agreement is in effect and any Loans or Commitments are outstanding such
that the Applicable Margin for any period (an “Applicable Period”) should have been higher than the Applicable Margin applied for such Applicable Period, then (i) the Company shall promptly (and in no event later than five
Business Days thereafter) deliver to the Administrative Agent a corrected Compliance Certificate for such Applicable Period; (ii) the Applicable Margin shall be determined by reference to the corrected Compliance Certificate (but in no event
shall the Lenders owe any amounts to the Company); and (iii) the Company shall pay to the Administrative Agent promptly (and in no event later than five Business Days after the date such corrected Compliance Certificate is delivered) any
additional interest owing as a result of such increased Applicable Margin for such Applicable Period, which payment shall be promptly applied by the Administrative Agent in accordance with the terms hereof. Notwithstanding anything to the
contrary in this Agreement, any nonpayment of such interest as a result of any such inaccuracy shall not constitute a Default (whether retroactively or otherwise), and no default interest shall be due in respect thereof pursuant to Section 2.16, at
any time prior to the date that is five Business Days following the date such corrected Compliance Certificate is delivered. The Company’s obligations under this paragraph shall survive the termination of the Commitments and the repayment
of all other amounts due hereunder. 
 “Approved Borrower”: any wholly owned Subsidiary of the Company (other than any
EEA Financial Institution) as to which a Designation Letter shall have been delivered to the Administrative Agent in accordance with Section 2.25 hereof and as to which a Termination Letter shall not have been delivered to the Administrative
Agent. The Approved Borrowers as of the Closing Date are set forth on Schedule 2.25. 

“Application”: an application or letter of credit issuance request, in such customary form as the applicable Issuing
Lender may reasonably specify from time to time, requesting that such Issuing Lender issue a Letter of Credit. 

  
 10 

 “Asset Sale”: any Disposition of Property or series of related Dispositions
of Property (excluding any such Disposition permitted by Section 7.05 (other than Dispositions made pursuant to paragraphs (g), (h) or (i) thereof)) which yields gross proceeds to the Company or any of its Restricted Subsidiaries (valued at the
initial principal amount thereof in the case of non-cash proceeds consisting of notes or other debt securities and valued at Fair Market Value in the case of other non-cash proceeds) in excess of $5,000,000. 

“Assigned Dollar Value”: in respect of any Borrowing denominated in an Alternative Currency, the Dollar Equivalent
thereof determined based upon the applicable Spot Exchange Rate as of the Denomination Date for such Borrowing. In the event that any Borrowing denominated in an Alternative Currency shall be prepaid in part, the Assigned Dollar Value of such
Borrowing shall be allocated ratably to the prepaid portion of such Borrowing and the portion of such Borrowing remaining outstanding. 

“Assignee”: as defined in Section 10.06(c). 

“Assignment and Acceptance”: as defined in Section 10.06(c). 

“Assignor”: as defined in Section 10.06(c). 

“Available Amount”: on any date (the “Determination Date”), an amount equal to: 

(a)    $25,000,000; plus 

(b)    an amount equal to 50% of the Consolidated Net Income of the Company and its Restricted Subsidiaries for each
Determination Period (commencing with the fiscal year of the Company ending December 31, 2017) completed prior to such Determination Date for which financial statements have been delivered pursuant to Section 6.01(a) (or, if such amount is a
loss, minus 100% of such loss); plus 
 (c)    the aggregate Net Equity Proceeds received by the Company
after the Closing Date and on or prior to such Determination Date pursuant to any Permitted Equity Issuance; plus 

(d)    the aggregate principal amount of any Indebtedness, or the liquidation preference or maximum fixed repurchase
price, as the case may be, of any Disqualified Capital Stock, of the Company (other than Indebtedness or Disqualified Capital Stock issued to the Company or another Restricted Subsidiary) that has been converted into or exchanged for Qualified
Capital Stock in the Company after the Closing Date; plus 
 (e)    in the event any Unrestricted Subsidiary has
been re-designated as a Restricted Subsidiary or has been merged, consolidated or amalgamated with or into, or transfers or conveys its assets to, or is liquidated into, the Company or a Restricted Subsidiary of the Company, the Fair Market Value of
the Investments originally made by the Company and the Restricted Subsidiaries following the Closing Date in such Unrestricted Subsidiary pursuant to Section 7.07(o) (or of the assets transferred or conveyed, as applicable); minus 

(f)    Restricted Payments made pursuant to Section 7.06(h) after the Closing Date and on or prior to the respective
Determination Date; minus 

  
 11 

 (g)    Investments made pursuant to Section 7.07(o) after the Closing Date
and on or prior to the respective Determination Date; minus 
 (h)    payments of Junior Debt made pursuant to
Section 7.08(a)(ii) after the Closing Date and on or prior to the respective Determination Date. 
 “Available Revolving Credit
Commitment”: with respect to any Revolving Credit Lender at any time, an amount equal to the excess, if any, of (a) such Lender’s Revolving Credit Commitment then in effect over (b) such Lender’s Revolving
Extensions of Credit then outstanding. 
 “Bail-In Action”: the exercise of any Write-Down and Conversion Powers by
the applicable EEA Resolution Authority in respect of any liability of an EEA Financial Institution. 
 “Bail-In
Legislation”: with respect to any EEA Member Country implementing Article 55 of Directive 2014/59/EU of the European Parliament and of the Council of the European Union, the implementing law for such EEA Member Country from time
to time which is described in the EU Bail-In Legislation Schedule. 
 “Bankruptcy Plan”: any plan of reorganization
pursuant to Title 11 of the United States Code. 
 “Bankruptcy Code”: Title 11 of the United States Code, as
amended, or any similar federal or state law for the relief of debtors. 
 “Base Rate”: for any day, a rate per annum
equal to the greatest of (a) the Prime Rate in effect on such day, (b) the Federal Funds Effective Rate in effect on such day plus  1⁄2 of 1%
and (c) the Adjusted LIBO Rate for a one month Interest Period on such day (or if such day is not a Business Day, the immediately preceding Business Day) plus 1.00%; provided that, if such rate is less than 0.00% per annum, the
Base Rate shall deemed to be 0.00% per annum for purposes of this Agreement, provided, further, that, for the avoidance of doubt, the Adjusted LIBO Rate for any day shall be based on the rate appearing on Reuters Screen LIBOR01 Page
(or any successor page) at approximately 11:00 a.m. London time on such day. If the Administrative Agent shall have determined (which determination shall be conclusive absent manifest error) that it is unable to ascertain the Federal Funds
Effective Rate for any reason, including the inability or failure of the Administrative Agent to obtain sufficient quotations in accordance with the terms of the definition thereof, the Base Rate shall be determined without regard to clause (b)
of the preceding sentence until the circumstances giving rise to such inability no longer exist. Any change in the Base Rate due to a change in the Prime Rate, the Federal Funds Effective Rate or the Adjusted LIBO Rate shall be effective on the
effective date of such change in the Prime Rate, the Federal Funds Effective Rate or the Adjusted LIBO Rate, as the case may be. 

“Base Rate Borrowing”: a Borrowing comprised of Base Rate Loans. 

“Base Rate Loans”: Loans for which the applicable rate of interest is based upon the Base Rate. 

“Benefitted Lender”: as defined in Section 10.07. 

  
 12 

 “Board”: the Board of Governors of the Federal Reserve System of the United
States (or any successor). 
 “Borrowers”: the Company and, in the case of the Revolving Credit Facility, each
Approved Borrower (each, a “Borrower”). 
 “Borrowing Date”: any Business Day specified by the
Borrower as a date on which the Borrower requests the relevant Lenders to make Loans hereunder. 
 “Borrowing”: a
group of Loans of a single Type made by the Lenders (or, in the case of a Competitive Borrowing, by the Lender or Lenders whose Competitive Bids have been accepted pursuant to Section 2.06). 

“Borrowing Minimum”: (a) in the case of a Borrowing denominated in Dollars, $5,000,000 and (b) in the case of
a Borrowing denominated in any Alternative Currency, 5,000,000 units (or, in the case of Sterling, 2,500,000 units) of such currency. 

“Borrowing Multiple”: (a) in the case of a Borrowing denominated in Dollars, $1,000,000 and (b) in the case of
a Borrowing denominated in any Alternative Currency, 1,000,000 units (or, in the case of Sterling, 500,000 units) of such currency. 

“Borrowing Request”: a Term Loan Borrowing Request, a Standby Borrowing Request or a Competitive Bid Request, as
applicable. 
 “Brand Disposition”: the sale of the Company’s interest in Brand Energy & Infrastructure
Services, Inc. (“Brand”), to Brand on September 15, 2016. 
 “Business Day”: a day other than a
Saturday, Sunday or other day on which commercial banks in New York City are authorized or required by law to close; provided that (a) when used in connection with a Eurocurrency Loan, the term “Business Day” shall also
exclude any day on which commercial banks are not open for dealings in deposits in the applicable currency in the London interbank market and (b) when used in connection with a Loan denominated in Euro, the term “Business Day”
shall also exclude any day on which the TARGET payment system is not open for the settlement of payments in Euro. 
 “Capital
Expenditures”: for any period, with respect to any Person, the aggregate of all expenditures by such Person or any Restricted Subsidiary thereof during such period for the acquisition or leasing (pursuant to a capital lease) of fixed
or capital assets or additions to equipment (including replacements, capitalized repairs and improvements during such period) that, in conformity with GAAP, are required to be included as capital expenditures in the consolidated statement of cash
flows of the Company and the Restricted Subsidiaries. 
 “Capital Lease Obligations”: with respect to any Person, the
obligations of such Person to pay rent or other amounts under any lease of (or other arrangement conveying the right to use) real or personal property, or a combination thereof, which obligations are required to be classified and accounted for as
capital leases on a balance sheet of such Person under GAAP (excluding any lease that would be required to be so classified as a result of a change in GAAP after the Closing Date); and, for the purposes of this Agreement, the amount of such
obligations at any time shall be the capitalized amount thereof at such time determined in accordance with GAAP. 

  
 13 

 “Capital Stock”: any and all shares, interests, participations or other
equivalents (however designated) of capital stock of a corporation, any and all equivalent ownership interests in a Person (other than a corporation) and any and all warrants, rights or options to purchase or otherwise acquire any of the foregoing.

 “Cash Collateralize”: to pledge and deposit with or deliver to the Collateral Agent, for the benefit of one or more
of the Issuing Lenders or Lenders, as collateral for L/C Obligations or obligations of Lenders to fund participations in respect of L/C Obligations, cash or deposit account balances or, if the Administrative Agent and each applicable Issuing Lender
shall agree in their sole discretion, other credit support, in each case pursuant to documentation in form and substance reasonably satisfactory to the Administrative Agent and each applicable Issuing Lender. “Cash Collateral”
shall have a meaning correlative to the foregoing and shall include the proceeds of such cash collateral and other credit support. 

“Cash Equivalents”: (i) with respect to the Company or any of its Restricted Subsidiaries, (a) marketable
direct obligations issued by, or unconditionally guaranteed by, the United States government or issued by any agency thereof and backed by the full faith and credit of the United States, in each case maturing within one year from the date of
acquisition; (b) certificates of deposit, time deposits, eurodollar time deposits or overnight bank deposits having maturities of one year or less from the date of acquisition issued by any Revolving Credit Lender or by any domestic office of
any commercial bank organized under the laws of the United States of America or any state thereof having combined capital and surplus of not less than $250,000,000; (c) commercial paper of an issuer rated at least A-2 by S&P or P-2 by
Moody’s, or carrying an equivalent rating by a nationally recognized rating agency, if both of the two named rating agencies cease publishing ratings of commercial paper issuers generally, and maturing within one year from the date of
acquisition; (d) fully collateralized repurchase obligations of any Revolving Credit Lender or of any commercial bank satisfying the requirements of clause (b) of this definition, having a term of not more than 30 days with respect to
securities issued or fully guaranteed or insured by the United States government; (e) securities with maturities of one year or less from the date of acquisition issued or fully guaranteed by any state, commonwealth or territory of the United
States, by any political subdivision or taxing authority of any such state, commonwealth or territory or by any foreign government, the securities of which state, commonwealth, territory, political subdivision, taxing authority or foreign government
(as the case may be) are rated at least A by S&P or A by Moody’s or carrying an equivalent rating by a nationally recognized rating agency, if both of the two named rating agencies cease publishing ratings of such securities generally;
(f) securities with maturities of one year or less from the date of acquisition backed by standby letters of credit issued by any Revolving Credit Lender or any commercial bank satisfying the requirements of clause (b) of this definition;
and (g) shares of money market mutual or similar funds which invest exclusively in assets satisfying the requirements of clauses (a) through (f) of this definition; and (ii) with respect to any Foreign Subsidiaries, the approximate
equivalent of any of clauses (i)(a) through (g) above, in each case, by reference to such Foreign Subsidiary’s jurisdiction of organization or any jurisdiction(s) where such Foreign Subsidiary is engaged in material operations. 

  
 14 

 “Cash Management Agreement”: any agreement to provide (i) cash
management services, including treasury, depositary, overdraft, credit, purchasing or debit card, electronic funds transfer and other cash management arrangements (including commercial cards and working capital lines of credit) to the Company or any
of its Restricted Subsidiaries and (ii) other loans to Foreign Subsidiaries in an aggregate outstanding principal amount (as to such other loans) at any one time of up to $50 million. 

“Cash Management Bank”: (i) with respect to any Cash Management Agreement entered into after the Closing Date, any
counterparty thereto that, at the time such Cash Management Agreement was entered into, was a Lender or an Affiliate of a Lender or of the Administrative Agent or the Collateral Agent, or (ii) with respect to any Cash Management Agreement
entered into prior to the Closing Date, any counterparty thereto that, was, as of the Closing Date, a Lender or an Affiliate of a Lender or of the Administrative Agent or the Collateral Agent.

“Change of Control”: the occurrence of any of the following events: (a) any “person” or
“group” (as such terms are used in Sections 13(d) and 14(d) of the Exchange Act as in effect on the Closing Date) shall become, or obtain rights (whether by means of warrants, options or the like) to become, the “beneficial
owner” (as defined in Rules 13(d)-3 and 13(d)-5 under the Exchange Act as in effect on the Closing Date), directly or indirectly, of more than 35% of the outstanding common stock of the Company or (b) any change in control (or similar
event, however denominated) with respect to the Company shall occur under and as defined in any indenture or agreement in respect of Indebtedness in excess of the Threshold Amount to which the Company or any other Loan Party is a party. 

“Change in Law”: (a) the adoption or taking effect of any law, rule or regulation after the Closing Date,
(b) any change in any law, rule, regulation or treaty or in the administration, implementation, interpretation or application thereof by any Governmental Authority after the Closing Date, (c) the making or issuance of any request, rule,
guideline or directive (whether or not having the force of law) by any Governmental Authority after the Closing Date or (d) compliance by any Lender or any Issuing Lender (or, for purposes of Section 2.19, by any lending office of such Lender
or by such Lender’s or such Issuing Lender’s holding company, if any) with any request, guideline or directive (whether or not having the force of law) of any Governmental Authority first made or issued after the Closing Date;
provided that notwithstanding anything herein to the contrary, (x) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines or directives thereunder or issued in connection therewith by any
Governmental Authority and (y) all requests, rules, guidelines or directives promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or United States or foreign
regulatory authorities, in each case pursuant to Basel III, shall in each case be deemed to be a “Change in Law”, regardless of the date enacted, adopted or issued. 

“Class”: (a) when used with respect to Lenders, whether such Lenders are Revolving Credit Lenders or Term Loan
Lenders or Lenders under a particular Facility, (b) when used with respect to Commitments, whether such Commitments are Initial Revolving Credit Commitments, Incremental Revolving Credit Commitments, Extended Revolving Credit Commitments, Other
Revolving Credit Commitments, Initial Term Loan Commitments, Incremental Term Loan 

  
 15 

 
Commitments, Extended Term Commitments or Other Term Commitments and (c) when used with respect to Loans or a Borrowing, refers to whether such Loans, or the Loans comprising such Borrowing,
are Revolving Credit Loans, Incremental Revolving Credit Loans, Extended Revolving Credit Loans, Other Revolving Credit Loans, Term Loans, Incremental Term Loans, Extended Term Loans or Other Term Loans. 

“Closing Date”: November 2, 2016. 

“Co-Managers”: Fifth Third Bank and ING Bank N.V., in their capacities as co-managers of the Facilities hereunder. 

“Code”: the Internal Revenue Code of 1986, as amended from time to time. 

“Co-Collateral Agent”: shall mean Bank of America, N.A. 

“Collateral”: all Property of the Loan Parties, now owned or hereafter acquired, upon which a Lien is purported to be
created by any Security Document. 
 “Collateral Agent”: as defined in the preamble hereto. 

“Commitment”: with respect to any Lender, each of the Term Loan Commitment and the Revolving Credit Commitment of such
Lender. 
 “Committed Credit Exposure”: with respect to any Revolving Credit Lender at any time, the sum of
(a) the aggregate principal amount at such time of all outstanding Standby Loans of such Lender denominated in Dollars, plus (b) the Assigned Dollar Value at such time of the aggregate principal amount at such time of all
outstanding Standby Loans of such Lender that are Alternative Currency Loans. 
 “Commitment Fee”: as defined in
Section 2.09(a). 
 “Commitment Fee Percentage”: on any date, a percentage per annum equal to (i) until delivery
of the first Compliance Certificate to the Administrative Agent after the Closing Date, 0.40% and (ii) thereafter, the following percentages per annum, based upon the Total Leverage Ratio as set forth in the most recent Compliance Certificate
received by the Administrative Agent pursuant to Section 6.02(b): 
  

					
	 Pricing

Level
	 	 Total Leverage Ratio
	 	 Commitment

Fee

Percentage

	 1
	 	< 1.75:1.00	 	0.25%
	 2
	 	31.75:1.00 and < 2.00:1.00	 	0.30%
	 3
	 	32.00:1.00 and < 2.25:1.00	 	0.35%

  
 16 

					
	 Pricing

Level
	 	 Total Leverage Ratio
	 	 Commitment

Fee

Percentage

	 4
	 	32.25:1.00 and < 3.25:1.00	 	0.40%
	 5
	 	33.25:1.00	 	0.50%

 Any increase or decrease in the Commitment Fee Percentage resulting from a change in the Total Leverage Ratio
shall become effective as of the first Business Day immediately following the date a Compliance Certificate is delivered pursuant to Section 6.02(b); provided, that upon the request of the Majority Revolving Credit Facility Lenders, the
highest Pricing Level in the above chart shall apply as of the first Business Day after the date on which a Compliance Certificate was required to have been delivered but was not delivered, and shall continue to so apply up to and including the date
on which such Compliance Certificate is so delivered (and thereafter the applicable Pricing Level in the above chart otherwise determined in accordance with this definition shall apply). In the event that any Compliance Certificate is shown by
the Administrative Agent to be inaccurate (whether as a result of an inaccuracy in the financial statements on which such Compliance Certificate is based, a mistake in calculating the applicable Total Leverage Ratio or otherwise) at any time that
this Agreement is in effect and any Loans or Commitments are outstanding such that the Commitment Fee Percentage for any period (an “Applicable Period”) should have been higher than the Commitment Fee Percentage applied for such
Applicable Period, then (i) the Company shall promptly (and in no event later than five Business Days thereafter) deliver to the Administrative Agent a corrected Compliance Certificate for such Applicable Period; (ii) the Applicable Margin
shall be determined by reference to the corrected Compliance Certificate (but in no event shall the Revolving Credit Lenders owe any amounts to the Company); and (iii) the Company shall pay to the Administrative Agent promptly (and in no event
later than five Business Days after the date such corrected Compliance Certificate is delivered) any additional commitment fees owing as a result of such increased Commitment Fee Percentage for such Applicable Period, which payment shall be promptly
applied by the Administrative Agent in accordance with the terms hereof. Notwithstanding anything to the contrary in this Agreement, any nonpayment of such commitment fees as a result of any such inaccuracy shall not constitute a Default
(whether retroactively or otherwise), and no default interest shall be due in respect thereof pursuant to Section 2.16, at any time prior to the date that is five Business Days following the date such corrected Compliance Certificate is
delivered. The Company’s obligations under this paragraph shall survive the termination of the Revolving Credit Commitments and the repayment of all other amounts due hereunder. 

“Commodity Exchange Act”: the Commodity Exchange Act (7 U.S.C. § 1 et seq.), as amended from time to time, and
any successor statute. 
 “Commonly Controlled Entity”: an entity, whether or not incorporated, that is under common
control with the Company within the meaning of Section 4001 of ERISA or is part of a group that includes the Company and that is treated as a single employer under Section 414 of the Code. 

  
 17 

 “Company”: as defined in the preamble hereto. 

“Company Notice”: as defined in Section 6.08(b). 

“Competitive Bid”: an offer by a Lender to make a Competitive Loan pursuant to Section 2.06. 

“Competitive Bid Accept/Reject Letter”: a notification made by a Borrower pursuant to Section 2.06(d) in the form of
Exhibit A-4 hereto. 
 “Competitive Bid Rate”: as to any Competitive Bid made by a Lender pursuant to Section
2.06(b), (i) in the case of a Eurocurrency Loan, the Competitive Margin, and (ii) in the case of a Fixed Rate Loan, the fixed rate of interest offered by the Lender making such Competitive Bid. 

“Competitive Bid Request”: a request made pursuant to Section 2.06 in the form of Exhibit A-l hereto. 

“Competitive Borrowing”: a borrowing consisting of a Competitive Loan or concurrent Competitive Loans from the Revolving
Credit Lender or Lenders whose Competitive Bids for such Borrowing have been accepted by a Borrower under the bidding procedure described in Section 2.06. 

“Competitive Loan”: a loan from a Lender to a Borrower pursuant to the bidding procedure described in Section
2.06. Each Competitive Loan shall be a Eurocurrency Competitive Loan or a Fixed Rate Loan. 
 “Competitive
Margin”: as to any Eurocurrency Competitive Loan, the margin (expressed as a percentage rate per annum in the form of a decimal to no more than four decimal places) to be added to or subtracted from, in the case of Eurocurrency
Competitive Loans denominated in Dollars or any Alternative Currency (other than Euros), the LIBO Rate and, in the case of Eurocurrency Competitive Loans denominated in Euros, the EURIBO Rate in order to determine the interest rate applicable to
such Loan, as specified in the Competitive Bid relating to such Loan. 
 “Compliance Certificate”: a certificate duly
executed by a Responsible Officer, substantially in the form of Exhibit B, or in such other form as is reasonably acceptable to the Administrative Agent. 

“Consent and Reaffirmation”: the Consent and Reaffirmation dated the date hereof by the Company and each other Loan
Party party thereto in favor of the Collateral Agent for the benefit of the Secured Parties. 
 “Consolidated Current
Assets”: at any date, all amounts (other than cash and Cash Equivalents) that would, in conformity with GAAP, be set forth opposite the caption “total current assets” (or any like caption) on a consolidated balance sheet of
the Borrower and its Restricted Subsidiaries at such date, other than amounts related to current or deferred Taxes based on income or profits, assets held for sale, loans (permitted) to third parties, pension assets, deferred bank fees, derivative
financial instruments and assets under any Swap Obligations. 

  
 18 

 “Consolidated Current Liabilities”: at any date, all amounts that would, in
conformity with GAAP, be set forth opposite the caption “total current liabilities” (or any like caption) on a consolidated balance sheet of the Borrower and its Restricted Subsidiaries at such date, but excluding (a) the current
portion of any Funded Debt of the Borrower and its Restricted Subsidiaries, (b) without duplication of clause (a) above, the current portion of all Indebtedness consisting of Loans to the extent otherwise included therein, (c) the current
portion of accrued interest, (d) liabilities relating to current or deferred Taxes based on income or profits, (e) any loans or letters of credit under any other revolving facility, (f) liabilities in respect of deferred purchase price holdbacks and
earn-out obligations, (g) non-cash compensation costs and expenses, (h) customer advances in excess of $10 million (per contract or program) received after the Closing Date less inventory purchases associated with the customer advances and
(i) liabilities under any Swap Obligations. 
 “Consolidated EBITDA”: at any date of determination, for the
Company and its Restricted Subsidiaries on a consolidated basis, an amount equal to Consolidated Net Income for the most recently completed consecutive four fiscal quarters plus (a) the following to the extent deducted in calculating
Consolidated Net Income: (i) Consolidated Interest Charges for such period, (ii) the provision for Federal, state, local and foreign income or excise taxes payable by the Company and its Restricted Subsidiaries for such period,
(iii) depreciation and amortization expense, (iv) losses on sales of assets outside the ordinary course of business and losses from discontinued operations, (v) any other extraordinary, unusual, infrequent or nonrecurring or noncash
items for such period and (vi) the amount of loss on any sale of Securitization Assets in connection with any Permitted Securitization Financing that is not shown as a liability on a consolidated balance sheet prepared in accordance with GAAP,
minus (b) the following to the extent included in calculating such Consolidated Net Income: (i) any extraordinary income or gains, (ii) gains on sales of assets outside the ordinary course of business and gains from
discontinued operations, (iii) the amount of gain on any sale of Securitization Assets in connection with any Permitted Securitization Financing that is not shown as an asset on a consolidated balance sheet prepared in accordance with GAAP and
(iv) any other nonrecurring or non-cash income; provided that Consolidated EBITDA shall be determined on a Pro Forma Basis. 

“Consolidated Interest Charges”: for the most recently completed consecutive four fiscal quarters, for the Company and
its Restricted Subsidiaries on a consolidated basis, the sum of (a) all interest, premium payments, debt discount, fees, charges and related expenses of the Company and its Restricted Subsidiaries in connection with borrowed money (including
capitalized interest) or in connection with the deferred purchase price of assets, in each case to the extent treated as interest in accordance with GAAP, and (b) the portion of rent expense of the Company and its Restricted Subsidiaries with
respect to such period under capital leases that is treated as interest in accordance with GAAP; provided that Consolidated Interest Charges shall be determined on a Pro Forma Basis. 

  
 19 

 “Consolidated Net Income”: for any period, the net income of the Company
and its Restricted Subsidiaries for such period determined on a consolidated basis in accordance with GAAP. 
 “Consolidated
Non-Cash Charges”: with respect to the Borrower and the Restricted Subsidiaries for any period, the aggregate depreciation, amortization (including amortization of intangibles, deferred financing fees, debt issuance costs, commissions, fees
and expenses, expensing of any bridge, commitment or other financing fees, the non-cash portion of interest expense resulting from the reduction in the carrying value under purchase accounting of the Borrowers’ outstanding Indebtedness and
commissions, discounts, yield and other fees and charges but excluding amortization of prepaid cash expenses that were paid in a prior period), non-cash impairment, non-cash compensation, non-cash rent, and other non-cash charges of such Person and
its Restricted Subsidiaries reducing Consolidated Net Income of such Person for such period on a consolidated basis and otherwise determined in accordance with GAAP. 

“Consolidated Total Assets”: of any Person at any date, all assets that would, in conformity with GAAP, be set forth
opposite the caption “total assets” (or any like caption) on a consolidated balance sheet of such Person and its Restricted Subsidiaries at such date. 

“Consolidated Working Capital”: at any date, the excess of Consolidated Current Assets on such date over
Consolidated Current Liabilities on such date. 
 “Consolidated Working Capital Adjustment”: for any period on a
consolidated basis, the amount (which may be a negative number) by which Consolidated Working Capital as of the beginning of such period exceeds (or is less than (in which case the Consolidated Working Capital Adjustment will be a negative number))
Consolidated Working Capital as of the end of such period. 
 “Contractual Obligation”: as to any Person, any
provision of any security issued by such Person or of any agreement, instrument or other undertaking to which such Person is a party or by which it or any of its Property is bound. 

“Credit Agreement Refinancing Debt”: Indebtedness constituting a Permitted Refinancing incurred under this Agreement
pursuant to a Refinancing Amendment, issued, incurred or otherwise obtained (including by means of the extension or renewal of existing Indebtedness) in exchange for, or to extend, renew, replace or refinance, in whole or part, existing Term Loans,
outstanding Revolving Credit Commitments and/or existing Revolving Credit Loans (including any successive Credit Agreement Refinancing Debt) (“Refinanced Credit Agreement Debt”); provided that (a) except to the extent
otherwise permitted under this Agreement (subject to a dollar for dollar usage of any other basket set forth in Section 7.02 to the extent of any excess, if applicable), such extending, refunding, renewing, replacing or refinancing Indebtedness
(including, if such Indebtedness includes any Other Revolving Credit Commitments, the unused portion of such Other Revolving Credit Commitments) is in an original aggregate principal amount (or accreted value, if applicable) not greater than the
aggregate principal amount (or accreted value, if applicable) of the Refinanced Credit Agreement Debt (and, in the case of Refinanced Credit Agreement Debt consisting in whole or in part of unused Revolving Credit Commitments or Other Revolving
Credit Commitments, the amount 

  
 20 

 
thereof) except by an amount equal to unpaid accrued interest and premium or make-whole payments applicable thereto and any fees and expenses (including upfront fees and original issue discount)
in connection with such extension, exchange, modification, refinancing, refunding, renewal or replacement, (b) such Indebtedness shall not be secured by any property or assets of the Company or any Restricted Subsidiary other than the
Collateral, (c) such Indebtedness shall not be guaranteed by any Restricted Subsidiaries other than the Restricted Subsidiaries that are Loan Parties and (d) such Indebtedness shall otherwise satisfy the requirements applicable thereto
pursuant to Section 2.30. 
 “Customary Intercreditor Agreement”: (a) to the extent executed in connection with
the incurrence or assumption of secured Indebtedness, the Liens on the Collateral securing such Indebtedness which are intended to rank equal in priority to the Liens on the Collateral securing the Obligations (but without regard to the control of
remedies), a customary intercreditor agreement in form and substance reasonably acceptable to the Administrative Agent and the Company, which agreement shall provide that the Liens on the Collateral securing such Indebtedness shall rank equal in
priority to the Liens on the Collateral securing the Obligations (but without regard to the control of remedies) and (b) to the extent executed in connection with the incurrence or assumption of secured Indebtedness, the Liens on the Collateral
securing such Indebtedness which are intended to rank junior (or senior, as applicable) in priority to the Liens on the Collateral securing the Obligations, a customary intercreditor agreement in form and substance reasonably acceptable to the
Administrative Agent and the Company, which agreement shall provide that the Liens on the Collateral securing such Indebtedness shall rank junior (or senior, as applicable) in priority to the Lien on the Collateral securing the Obligations. 

“Declined Proceeds”: as defined in Section 2.12(j). 

“Default”: any of the events or conditions specified in Article 8, whether or not any requirement for the giving of
notice, the lapse of time, or both, has been satisfied. 
 “Defaulting Lender”: at any time, a Lender (i) that
has failed for three or more Business Days to comply with its obligations under this Agreement to make a Loan or make any other payment due hereunder (including in respect of its participations in Letters of Credit) (each, a “funding
obligation”), unless with respect to the making of a Loan such Lender has notified the Administrative Agent and the Company in writing that such failure is the result of such Lender’s good faith determination that one or more
conditions precedent to funding has not been satisfied (which conditions precedent, together with the applicable default, if any, will be specifically identified (and calculated, if applicable) in such writing), (ii) that has notified the
Administrative Agent and the Company in writing, or has stated publicly, that it does not intend to comply with its funding obligation hereunder unless with respect to the making of a Loan such writing or statement states that such position is based
on such Lender’s good faith determination that one or more conditions precedent to funding cannot be satisfied (which conditions precedent, together with the applicable default, if any, will be specifically identified (and calculated, if
applicable) in such writing or public statement), (iii) that has, for five or more Business Days after written request of the Administrative Agent or the Company, failed to confirm in writing to the Administrative Agent and the Company that it
will comply with its prospective funding obligations hereunder; provided that a Lender shall cease to be a Defaulting Lender under this clause (iii) upon receipt by the Administrative Agent and the Company of such written

  
 21 

 
confirmation, (iv) as to which a Lender Insolvency Event has occurred and is continuing, or (v) that becomes the subject of a Bail-In Action. Any determination by the
Administrative Agent that a Lender is a Defaulting Lender under any of clauses (i) through (v) above will be conclusive and binding absent manifest error, and such Lender will be deemed to be a Defaulting Lender (subject to Section 2.27(b))
upon written notification of such determination by the Administrative Agent to the Company and the Lenders. 
 “Denomination
Date”: at any time, in relation to any Alternative Currency Borrowing, the date that is two Business Days before the later of (a) the date such Borrowing is made and (b) the date of the most recent conversion or continuation
of such Borrowing pursuant to Section 2.13. 
 “Designated Bilateral Letters of Credit”: each Existing Designated
Bilateral Letters of Credit and, to the extent designated as such in a certificate delivered by the Company to the Administrative Agent and the Collateral Agent pursuant to Section 8.15 of the Guarantee and Collateral Agreement, obligations of
the Company or any of its Restricted Subsidiaries under letters of credit (other than Letters of Credit), performance bond, surety bond, bank guarantee or other similar arrangements entered into by the Company or any of its Restricted Subsidiaries
with a Designated Bilateral Letter of Credit Issuer.
 “Designated Bilateral Letter of Credit Issuer”: with respect to
any Designated Bilateral Letter of Credit, the issuer thereof. 
 “Designated Non-Cash Consideration”: the Fair Market
Value of non-cash consideration received by the Company or one of its Restricted Subsidiaries in connection with an Asset Sale that is so designated as Designated Non-Cash Consideration pursuant to a certificate of a Responsible Officer.

“Designation Letter”: as defined in Section 2.25. 

“Determination Date”: as defined in the definition of “Available Amount”. 

“Determination Period”: as of any Determination Date, the immediately preceding fiscal year of the Company. 

“Disposition”: with respect to any Property, any sale, lease, sale and leaseback, assignment, conveyance, transfer or
other disposition thereof (other than, in each case, a Specified Distribution); and the terms “Dispose” and “Disposed of” shall have correlative meanings.

“Disqualified Capital Stock”: any Capital Stock of any Person, which by its terms (or by the terms of any security or
Capital Stock into which it is convertible or for which it is exchangeable), or upon the happening of any event or condition, matures or requires such Person to purchase, redeem, retire, defease or otherwise make any payment in respect of any
Capital Stock of such Person or any other Person or any warrants, rights or options to acquire such Capital Stock, in each case, while the Revolving Credit Commitments, Extended Revolving Credit Commitments, Incremental Revolving Credit Commitments,
Other Revolving Credit Commitments, Term Loans, Incremental Term Loans, Extended Term Loans and Other Term 

  
 22 

 
Loans remain outstanding or prior to the date that is 91 days following the Latest Maturity Date at the time of incurrence of such Disqualified Capital Stock; provided,
however, that only the portion of Capital Stock that so matures or is mandatorily redeemable prior to such date shall be deemed to be Disqualified Capital Stock, other than Capital Stock that so matures or is mandatorily redeemable as a
result of a change of control or asset sale (provided that the relevant asset sale or change of control provisions, taken as a whole, are no more favorable in any material respect to holders of such Capital Stock than the Asset Sale and
Change of Control provisions applicable to this Facility and any prepayment requirement triggered thereby may not become operative until compliance with the Asset Sale and Change of Control provisions applicable to this Facility); provided,
further, however, that if such Capital Stock is issued to any plan for the benefit of employees of the Company or its Restricted Subsidiaries or by any such plan to such employees, such Capital Stock shall not constitute Disqualified
Capital Stock solely because it may be required to be repurchased by the Company or its Restricted Subsidiaries in order to satisfy applicable statutory or regulatory obligations. 

“Disqualified Institutions”: those Persons that are identified in writing by the Company to the Administrative Agent on
or prior to October 13, 2016, which list shall be available for inspection upon the request of any Lender. 
 “Documentation
Agents”: Bank of America, N.A., Royal Bank of Canada, U.S. Bank National Association, and KeyBank, N.A., in their capacities as documentation agents of the Facilities hereunder.

“Dollar Equivalent”: at any time, (a) with respect to any amount denominated in Dollars, such amount, and
(b) with respect to any amount denominated in any currency other than Dollars, the equivalent amount thereof in Dollars as determined by the Borrower at such time on the basis of the Spot Exchange Rate (determined in respect of the most recent
applicable date of determination) for the purchase of Dollars with such currency. 
 “Dollars” or
“$”: the lawful currency of the United States of America. 
 “Domestic Subsidiary”: any
Subsidiary of the Company organized under the laws of any jurisdiction within the United States of America. 
 “Dutch
Auction”: an auction conducted by the Company to purchase Term Loans as contemplated by Section 10.06(k) substantially in accordance with the procedures set forth in Exhibit J. 

“ECF Percentage”: with respect to any fiscal year of the Company, 50%; provided that the ECF Percentage shall be
reduced to (i) 25% if the Senior Secured Net Leverage Ratio for the Test Period ending on the last day of the relevant fiscal year is less than 2.00 to 1.00 but greater than or equal to 1.50 to 1.00 and (ii) 0% if the Senior Secured Net
Leverage Ratio for the Test Period ending on the last day of the relevant fiscal year is less than 1.50 to 1.00. 
 “EEA Financial
Institution”: (a) any credit institution or investment firm established in any EEA Member Country which is subject to the supervision of an EEA Resolution Authority, (b) any entity established in an EEA Member Country which
is a parent of an institution described in clause (a) of this definition, or (c) any financial institution established in an EEA Member Country which is a subsidiary of an institution described in clauses (a) or (b) of this definition
and is subject to consolidated supervision with its parent. 

  
 23 

 “EEA Member Country”: any of the member states of the European Union,
Iceland, Liechtenstein, and Norway. 
 “EEA Resolution Authority”: any public administrative authority or any person
entrusted with public administrative authority of any EEA Member Country (including any delegee) having responsibility for the resolution of any EEA Financial Institution. 

“Effective Yield”: as to any Loans, the effective all-in-yield on such Loans as determined in good faith by the
Administrative Agent, taking into account the applicable interest rate margins, any interest rate floors or similar devices and all fees, including upfront or similar fees or original issue discount (amortized over the shorter of (x) the
weighted average life to maturity of such Loans and (y) the four years following the date of incurrence thereof) payable generally to lenders making such Loans, but excluding any commitment, arrangement, underwriting, structuring or other fees
payable in connection therewith that are not generally shared with the relevant lenders and customary consent fees paid generally to consenting lenders. 

“Eligible Assignee”: (a) in the case of Term Loans, (i) a Lender, (ii) an Affiliate of a Lender,
(iii) a Related Fund of a Lender, and (iv) any other Person approved by the Administrative Agent and the Company, to the extent such approval is required under Section 10.06(c) and (b) in the case of any assignment of a Revolving
Credit Commitment, (i) a Revolving Credit Lender, (ii) an Affiliate of a Revolving Credit Lender, (iii) a Related Fund of a Revolving Credit Lender, and (iv) any other Person (other than a natural person) approved by the
Administrative Agent, each Issuing Lender and the Company, to the extent such approval is required under Section 10.06(c); provided, further that notwithstanding the foregoing, “Eligible Assignee” shall not include
(w) the Company or any of the Company’s Affiliates (it being understood and agreed that assignments to the Company may only be made pursuant to Section 10.06(k)), (x) any Defaulting Lender, (y) any natural person (or holding
company, investment vehicle or trust for, or owned and operated for the primary benefit of a natural person) or (z) unless approved in writing by the Company, any Disqualified Institution. 

“EMU Legislation”: the legislative measures of the European Union for the introduction of, changeover to or operation of
the Euro in one or more member states. 
 “Environmental Laws”: any and all laws, rules, orders, regulations,
statutes, ordinances, legally binding guidelines, codes, decrees, or other legally enforceable requirements or binding agreements (including, without limitation, common law) of any Governmental Authority, regulating, relating to or imposing
liability or standards of conduct concerning protection of the environment or of human health, or employee health and safety or exposure to or releases of any toxic, radioactive or otherwise hazardous substances or materials, as has been, is now, or
may at any time hereafter be, in effect. 
 “Environmental Liability”: any liability, loss, damage, cost, expense,
fine, penalty, sanction or interest, fixed or contingent, known or unknown, resulting from or related to Environmental Laws or exposure to, or emission, leaking, disposal or the arranging for disposal or transport for disposal, or releases of,
Materials of Environmental Concern. 

  
 24 

 “Environmental Permits”: any and all permits, licenses, approvals,
registrations, notifications, exemptions and other authorizations required under any Environmental Law. 

“ERISA”: the Employee Retirement Income Security Act of 1974, as amended from time to time. 

“ERISA Event”: (a) the failure to satisfy the minimum funding standard with respect to a Single Employer Plan
within the meaning of Section 412 of the Code or Section 302 of ERISA, (b) a determination that a Single Employer Plan is in “at risk” status (as defined in Section 303(i)(4) of ERISA or Section 430(i)(4) of the
Code); (c) a determination that a Multiemployer Plan is in “endangered status” or “critical status” (as defined in Section 305(b) of ERISA) or (d) the filing pursuant to Section 302(c) of ERISA or
Section 412(c) of the Code of an application for a waiver of the minimum funding standard with respect to any Single Employer Plan. 

“EU Bail-In Legislation Schedule”: the EU Bail-In Legislation Schedule published by the Loan Market Association (or any
successor person), as in effect from time to time. 
 “EURIBO Rate”: with respect to any Eurocurrency Borrowing in
Euros for any Interest Period, (i) the interest rate per annum for deposits in Euros which appears on Reuters Screen EURIBOR01 Page (or any successor page) as of 11:00 a.m., Brussels time, on the Quotation Day for such Interest Period or,
if such a rate does not appear on such rate page, (ii) an interest rate per annum (rounded upwards, if necessary, to the next 1/16 of 1%) equal to the rate at which deposits in Euros approximately equal in principal amount to the Loan of the
Administrative Agent, in its capacity as a Lender (or, if the Administrative Agent is not a Lender in respect of such Borrowing, then the Loan of the Lender in respect of such Borrowing with the greatest Loan amount), included in such Eurocurrency
Borrowing and for a maturity comparable to such Interest Period are offered to the principal London office of the Administrative Agent in immediately available funds in the European interbank market for Euros at approximately 11:00 a.m.,
Brussels time, on the Quotation Day for such Interest Period, provided that (x) the EURIBO Rate with respect the Initial Term Loans shall at no time be less than 1.00% per annum and (y) the EURIBO Rate in all other circumstance shall at no
time be less than 0.00% per annum. 
 “Euro”: the single currency of the European Union as constituted by the treaty
on European Union. 
 “Eurocurrency Borrowing”: a Borrowing comprised of Eurocurrency Loans. 

“Eurocurrency Competitive Borrowing”: a Competitive Borrowing comprised of Eurocurrency Competitive Loans. 

“Eurocurrency Competitive Loan”: any Competitive Loan bearing interest at a rate determined by reference to, in the case
of Eurocurrency Competitive Loan denominated in Dollars or any Alternative Currency (other than Euros), the LIBO Rate and, in the case of Eurocurrency Competitive Loans denominated in Euros, the EURIBO Rate in accordance with the provisions of
Article 2. 

  
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 “Eurocurrency Loan”: any Eurocurrency Competitive Loan or Eurocurrency
Standby Loan. 
 “Eurocurrency Standby Borrowing”: a Standby Borrowing comprised of Eurocurrency Standby Loans. 

“Eurocurrency Standby Loan”: any Standby Loan bearing interest at a rate determined by reference to, in the case of
Eurocurrency Standby Loans denominated in Dollars or any Alternative Currency (other than Euros), the LIBO Rate and, in the case of Eurocurrency Standby Loans denominated in Euros, the EURIBO Rate in accordance with the provisions of Article 2. 

“Eurocurrency Term Borrowing”: a Term Borrowing comprised of Eurocurrency Term Loans. 

“Eurocurrency Term Loan”: any Term Loan bearing interest at a rate determined by reference to, in the case of Eurocurrency
Term Loans denominated in Dollars or any Alternative Currency (other than Euros), the LIBO Rate and, in the case of Eurocurrency Term Loans denominated in Euros, the EURIBO Rate in accordance with the provisions of Article 2. 

“Eurocurrency Tranche”: the collective reference to Eurocurrency Loans under a particular Facility the then current
Interest Periods with respect to all of which begin on the same date and end on the same later date (whether or not such Loans shall originally have been made on the same day). 

“Event of Default”: any of the events specified in Article 8, provided that any requirement for the giving of
notice, the lapse of time, or both, has been satisfied. 
 “Evidence of Flood Insurance”: as defined in Section
6.08(b). 
 “Excess Cash Flow”: for any Excess Cash Flow Period, the excess, if positive, of 

(a)    the sum, without duplication, of 

(i)    Consolidated Net Income for such Excess Cash Flow Period, 

(ii)    the amount of all Consolidated Non-Cash Charges deducted in arriving at such Consolidated Net
Income, but excluding any such Consolidated Non-Cash Charges representing an accrual or reserve for a potential cash item in any future period that is reflected in Consolidated Working Capital, 

(iii)    the Consolidated Working Capital Adjustment for such Excess Cash Flow Period (it being understood
that such number may be negative), (excluding from the calculation of the Consolidated Working Capital Adjustment decreases or increases arising from (A) acquisitions or Dispositions of all or substantially all of the Capital Stock of any

  
 26 

 
Restricted Subsidiary of the Borrower or any business line, unit or division of the Borrower or any such Restricted Subsidiary, in each case by the Borrower and its Restricted Subsidiaries
completed during such period, (B) the application of acquisition and/or purchase recapitalization accounting, (C) the effect of reclassification during such period between Current Assets and long-term assets and Current Liabilities and
long-term liabilities (with a corresponding restatement to the prior period to give effect to such reclassification), and (D) a Permitted Securitization Financing or other accounts receivable sale program), 

(iv)    the aggregate net amount of loss on the Disposition of property by the Borrower and the Restricted
Subsidiaries during such Excess Cash Flow Period (other than sales of inventory in the ordinary course of business), to the extent deducted in arriving at such Consolidated Net Income, 

(v)    the amount of income tax expense or benefit in excess of the amount of taxes paid in cash during
such Excess Cash Flow Period to the extent such tax expense was deducted in determining Consolidated Net Income for such period, and 

(vi)    cash receipts in respect of Swap Obligations during such Excess Cash Flow Period to the extent not
otherwise included in Consolidated Net Income, over 
 (b)    the sum, without duplication, of 

(i)    the amount of all non-cash credits included in arriving at such Consolidated Net Income (but
excluding any non-cash credit to the extent representing a reversal of an accrual or reserve described in clause (a)(ii)), 

(ii)    the aggregate amount actually paid by the Borrower and Restricted Subsidiaries in cash during such
Excess Cash Flow Period on account of Capital Expenditures (excluding the principal amount of Indebtedness incurred in connection with such expenditures (other than Indebtedness under any revolving facility) and Capital Expenditures made in such
Excess Cash Flow Period where a certificate in the form contemplated by the following clause (iii) was previously delivered), 

(iii)    Capital Expenditures, Permitted Acquisitions and other Investments permitted hereunder that the
Borrower or any of its Restricted Subsidiaries shall, during such Excess Cash Flow Period, become obligated to make within the 100 day period following the end of such Excess Cash Flow Period but that are not made during such Excess Cash Flow
Period; provided that the Borrower shall deliver a certificate to the Administrative Agent not later than 100 days after the end of such Excess Cash Flow Period, signed by a Responsible Officer of the Borrower and certifying that such Capital
Expenditure, Permitted Acquisition or other Investment permitted hereunder, as applicable, will be made in the following Excess Cash Flow Period; provided, further, however, that if such Capital Expenditures, Permitted
Acquisition or other Investment permitted hereunder, as applicable, are not actually made in cash within 100 days after the end of such Excess Cash Flow Period, such amount shall be added back to Excess Cash Flow for the subsequent Excess Cash Flow
Period, 

  
 27 

 (iv)    to the extent not deducted in determining
Consolidated Net Income, net income taxes of the Borrower or any of its Restricted Subsidiaries that were paid or refunded in cash in excess of income tax expense or benefit during such Excess Cash Flow Period, 

(v)    all mandatory prepayments of the Term Loans pursuant to Section 2.12 made during such Excess
Cash Flow Period as a result of any Asset Sale or Recovery Event, or the amount reserved for acquisition or repair of assets or other reinvestment with respect to any Asset Sale or Recovery Event, but only to the extent that such Asset Sale or
Recovery Event resulted in a corresponding increase in Consolidated Net Income, without duplication of the effect of clauses (a)(iv) and (b)(ix), 

(vi)     the aggregate amount actually paid by the Borrower and its Restricted Subsidiaries in cash during
such Excess Cash Flow Period on account of Permitted Acquisitions or other Investments permitted hereunder (including any earn-out and other contingent consideration obligations and adjustments thereto, but excluding the principal amount of
Indebtedness incurred in connection with such expenditures other than Indebtedness under any revolving credit facility), 

(vii)    to the extent not funded with the proceeds of Indebtedness (other than Indebtedness in respect of
any revolving credit facility), the aggregate amount of all regularly scheduled principal amortization payments of Funded Debt made on their due date during such Excess Cash Flow Period (including payments in respect of Capital Lease Obligations to
the extent not deducted in the calculation of Consolidated Net Income), 
 (viii)    to the extent not
funded with the proceeds of Indebtedness (other than Indebtedness in respect of any revolving credit facility), the aggregate amount of all optional prepayments, repurchases and redemptions of Indebtedness (other than (x) the Loans and
(y) in respect of any revolving credit facility to the extent there is not an equivalent permanent reduction in commitments thereunder) made during such Excess Cash Flow Period, 

(ix)    the aggregate net amount of gains on the Disposition of property by the Borrower and the Restricted
Subsidiaries during such Excess Cash Flow Period (other than sales of inventory in the ordinary course of business), to the extent included in arriving at such Consolidated Net Income, 

(x)    to the extent not funded with the proceeds of Indebtedness (other than any revolving credit
facility) or deducted in determining Consolidated Net Income, Restricted Payments made under Section 7.06(c), (d), (e) or (f), 

(xi)    the aggregate amount of any premium, make-whole or penalty payments actually paid in cash by the
Borrower and any Restricted Subsidiary during such period that are required to be made in connection with any prepayment or satisfaction and discharge of Indebtedness, 

(xii)    cash expenditures in respect of Swap Obligations during such fiscal year to the extent not
deducted in arriving at such Consolidated Net Income, 

  
 28 

 (xiii)    the amount of cash payments made in respect of
pensions, multi-employer pension plan withdrawal payments, other post-employment benefits, restructuring reserves (including severance, lease run-outs, and disposal costs), self-insurance (including workers compensation, employer’s
liability, auto liability, general liability and product liability), completion and surety bonds, or other obligations requiring advance payments, funding or deposits not otherwise specified in this definition in such period to the extent not
deducted in arriving at such Consolidated Net Income, 
 (xiv)    the amount of any increase during such
period of Cash Equivalents subject to cash collateral or other deposit arrangements made with respect to letters of credit, Swap Obligations or other obligations; provided, that if such Cash Equivalents cease to be subject to those
arrangements, the amount of decrease in the Cash Equivalents so held shall be added back to Excess Cash Flow for the subsequent Excess Cash Flow Period when such arrangements cease, 

(xv)    a reserve established by the Borrower in good faith in respect of deferred revenue that Borrower or
any Restricted Subsidiary generated during such Excess Cash Flow Period; provided that, to the extent all or any portion of such deferred revenue is not returned to customers during the immediately succeeding Excess Cash Flow Period or
otherwise included in the Consolidated Net Income in the immediately subsequent year, such deferred revenue shall be added back to Excess Cash Flow for such subsequent Excess Cash Flow Period, 

(xvi)    cash payments by the Borrower and its Restricted Subsidiaries in respect of long-term liabilities
to the extent not deducted in arriving at such Consolidated Net Income, 
 (xvii)     other items as
shown on the Company’s “Consolidated Statement of Cash Flows” for the applicable period, as having the effect of reducing cash and cash equivalents not otherwise specified above, including changes in exchange rates; 

(c)    provided that: (i) the Consolidated Net Income for such period of any Person that is not a
Subsidiary, or is an Unrestricted Subsidiary, or that is accounted for by the equity method of accounting shall be excluded; provided that Excess Cash Flow shall be increased by the amount of dividends or distributions or other payments that are
actually paid in cash (or to the extent converted into cash) to the Company or a Domestic Subsidiary thereof in respect of such period, and (ii) Consolidated Net Income for such period of any Restricted Subsidiary shall be excluded to the
extent that the declaration or payment of dividends or similar distributions by such Restricted Subsidiary of its net income is not at the date of determination permitted without any prior governmental approval (which has not been obtained) or,
directly or indirectly, by the operation of the terms of its charter or any agreement, instrument, judgment, decree, order, statute, rule, or governmental regulation applicable to that Restricted Subsidiary or its stockholders, unless such
restriction with respect to the payment of dividends or similar distributions has been legally waived, provided that Excess Cash Flow of the Company will be increased by the amount of dividends or other distributions or other payments actually paid
in cash or Cash Equivalents (or to the extent converted into cash or Cash Equivalents) to the Company or any of its Domestic Subsidiaries in respect of such period, to the extent not already included therein. 

  
 29 

 “Excess Cash Flow Application Date”: as defined in Section 2.12(d). 

“Excess Cash Flow Period”: any fiscal year of the Company, commencing with the fiscal year ending December 31,
2017. 
 “Exchange Act”: the Securities Exchange Act of 1934, as amended from time to time. 

“Excluded Subsidiary”: any (a) Foreign Subsidiary of the Company or any direct or indirect Subsidiary thereof,
(b) Unrestricted Subsidiary, (c) captive insurance Subsidiary, (d) a not-for-profit Subsidiary, (e) Immaterial Subsidiary, (f) Subsidiary that is not permitted by law or regulation, or contract (with respect to Subsidiaries not permitted to
provide guarantees by contract, provided that the applicable prohibition exists on the Closing Date or on the date of formation or acquisition of such Subsidiary, to the extent such restriction was not entered into in contemplation of such
acquisition or formation), to provide such guarantee, or would require governmental (including regulatory) consent, approval, license or authorization to provide such guarantee, unless such consent, approval, license or authorization has been
received, (g) any Subsidiary if the provision of a guaranty under the Guarantee and Collateral Agreement would result in a material adverse tax consequence to the Company or one of its Subsidiaries (as reasonably determined by the Company in
consultation with the Administrative Agent), (h) special purpose entities designated in writing to the Administrative Agent (and approved by the Administrative Agent), (i) any Domestic Subsidiary substantially all of whose assets consist of Capital
Stock and/or Indebtedness of one or more direct or indirect Foreign Subsidiaries, intellectual property relating to such Foreign Subsidiaries and any other assets incidental thereto (such Domestic Subsidiary, a “FSHCO”), or any
direct or indirect Subsidiary of such Domestic Subsidiary and (j) any Special Purpose Securitization Subsidiary. 
 “Excluded Swap
Obligation”: with respect to any Subsidiary Guarantor, any Swap Obligation if, and to the extent that, all or a portion of the Guarantor Obligation (as defined in the Guarantee and Collateral Agreement) of such Subsidiary Guarantor of,
or the grant by such Subsidiary Guarantor of a security interest to secure, such Swap Obligation (or any Guarantor Obligation thereof) is or becomes illegal under the Commodity Exchange Act or any rule, regulation or order of the Commodity Futures
Trading Commission (or the application or official interpretation of any thereof) by virtue of such Subsidiary Guarantor’s failure for any reason to constitute an “eligible contract participant” as defined in the Commodity Exchange
Act and the regulations thereunder at the time the Guarantor Obligation of such Subsidiary Guarantor or the grant of such security interest becomes effective with respect to such Swap Obligation. If a Swap Obligation arises under a master
agreement governing more than one swap, such exclusion shall apply only to the portion of such Swap Obligation that is attributable to swaps for which such Guarantor Obligation or security interest is or becomes illegal. 

“Excluded Taxes”: as defined in Section 2.20(a). 

“Existing Credit Agreement”: as defined in the recitals to this Agreement. 

  
 30 

 “Existing Designated Bilateral Letters of Credit”: each Designated
Bilateral Letters of Credit entered into by the Company or any of its Restricted Subsidiaries that is outstanding on the Closing Date and set forth on Schedule 1.01. 

“Extended Revolving Credit Commitments”: one or more Classes of extended Revolving Credit Commitments that result from a
Loan Extension Amendment. 
 “Extended Revolving Credit Loans”: the Revolving Credit Loans made pursuant to any
Extended Revolving Credit Commitment or otherwise extended pursuant to a Loan Extension Amendment. 
 “Extended Term
Commitments”: one or more Classes of Extended Term Commitments hereunder that result from a Loan Extension Amendment. 

“Extended Term Loans”: one or more classes of extended Term Loans that result from a Loan Extension Amendment. 

“Facility”: each of (a) the Term Loan Commitments and the Term Loans made thereunder and (b) the Revolving Credit
Commitments and the extensions of credit made thereunder. 
 “Fair Market Value”: with respect to any Investment,
asset, property or transaction, the price which could be negotiated in an arm’s length, free market transaction, for cash, between a willing seller and a willing and able buyer, neither of whom is under undue pressure or compulsion to complete
the transaction (as determined in good faith by the Company). 
 “FATCA”: Sections 1471 through 1474 of the Code, as
of the date of this Agreement (or any amended or successor version that is substantively comparable and not materially more onerous to comply with), any current or future regulations thereunder or official interpretations thereof and any agreements
entered into pursuant to Section 1471(b)(1) of the Code, or any fiscal or regulatory legislation, rules, guidance notes or practices adopted pursuant to any intergovernmental agreement entered into in connection with the implementation of such
sections of the Code. 
 “FCPA”: as defined in Section 4.21. 

“Federal Funds Effective Rate”: for any day, the weighted average of the rates on overnight federal funds transactions
with members of the Federal Reserve System, as published on the next succeeding Business Day by the Federal Reserve Bank of New York, or, if such rate is not so published for any day that is a Business Day, the average of the quotations for the day
for such transactions received by the Administrative Agent from three federal funds brokers of recognized standing selected by it. 

“Financial Covenants”: means the Total Net Leverage Ratio Covenant and the Interest Coverage Ratio Covenant. 

“Fixed Rate”: with respect to any Competitive Loan (other than a Eurocurrency Competitive Loan), the fixed rate of
interest per annum (expressed in the form of a decimal to no more than four decimal places) specified by the Lender making such Loan in its Competitive Bid. 

  
 31 

 “Fixed Rate Borrowing”: a Borrowing comprised of Fixed Rate Loans. 

“Fixed Rate Loan”: any Competitive Loan bearing interest at a Fixed Rate. 

“Flood Determination Form”: as defined in Section 6.08(b). 

“Flood Documents”: as defined in Section 6.08(b). 

“Flood Laws”: collectively, (a) the National Flood Insurance Act of 1968 as now or hereafter in effect or any successor
statute thereto, (b) the Flood Disaster Protection Act of 1973 as now or hereafter in effect or any successor statue thereto, (c) the National Flood Insurance Reform Act of 1994 as now or hereafter in effect or any successor statute thereto, (d) the
Flood Insurance Reform Act of 2004 as now or hereafter in effect or any successor statute thereto and (e) the Biggert-Waters Flood Insurance Reform Act of 2012 as now or hereafter in effect or any successor statute thereto. 

“Foreign Subsidiary” any Subsidiary of the Company that is not a Domestic Subsidiary. 

“Fronting Exposure”: at any time there is a Defaulting Lender, with respect to any Issuing Lender, such Defaulting
Lender’s Revolving Credit Percentage of the outstanding L/C Obligations with respect to Letters of Credit issued by such Issuing Lender other than L/C Obligations as to which such Defaulting Lender’s participation obligation has been
reallocated to other Lenders or Cash Collateralized in accordance with the terms hereof. 
 “FSHCO”: as defined in the
definition of Excluded Subsidiary. 
 “Funded Debt”: with respect to any Person, all Indebtedness of such Person of
the types described in clauses (a) through (e), (h) and (j) (only to the extent of drawn and unreimbursed letters of credit) of the definition of “Indebtedness” in this Section 1.01. 

“Funding Office”: the office specified from time to time by the Administrative Agent as its funding office by notice to
the Company and the Lenders. 
 “GAAP”: generally accepted accounting principles in the United States of America as in
effect from time to time. 
 “Governmental Authority”: any nation or government, any state or other political
subdivision thereof, any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative functions of or pertaining to government (including
any supra-national bodies such as the European Union or the European Central Bank), any securities exchange and any self-regulatory organization (including the National Association of Insurance Commissioners). 

“Guarantee and Collateral Agreement”: the Guarantee and Collateral Agreement dated as of the Original Closing Date by
the Company and each other Loan Party from time to 

  
 32 

 
time party thereto in favor of the Collateral Agent for the benefit of the Secured Parties in substantially the form of Exhibit M, as amended pursuant to the Amendment and Restatement Agreement
and supplemented by the Consent and Reaffirmation, in each case, on the date hereof and as the same may be amended, supplemented or otherwise modified from time to time. 

“Guarantee Obligation”: as to any Person (the “guaranteeing person”), any obligation, including a
reimbursement, counterindemnity or similar obligation, of the guaranteeing person that guarantees or in effect guarantees, or which is given to induce the creation of a separate obligation by another Person (including any bank under any letter of
credit) that guarantees or in effect guarantees any Indebtedness, leases, dividends or other obligations (the “primary obligations”) of any other third Person (the “primary obligor”) in any manner, whether directly
or indirectly, including, without limitation, any obligation of the guaranteeing person, whether or not contingent, (i) to purchase any such primary obligation or any Property constituting direct or indirect security therefor, (ii) to advance or
supply funds (1) for the purchase or payment of any such primary obligation or (2) to maintain working capital or equity capital of the primary obligor or otherwise to maintain the net worth or solvency of the primary obligor, (iii) to purchase
Property, securities or services primarily for the purpose of assuring the owner of any such primary obligation of the ability of the primary obligor to make payment of such primary obligation or (iv) otherwise to assure or hold harmless the owner
of any such primary obligation against loss in respect thereof; provided, however, that the term Guarantee Obligation shall not include endorsements of instruments for deposit or collection in the ordinary course of business. The
amount of any Guarantee Obligation of any guaranteeing person shall be deemed to be the lower of (a) an amount equal to the stated or determinable amount of the primary obligation in respect of which such Guarantee Obligation is made and (b) the
maximum amount for which such guaranteeing person may be liable pursuant to the terms of the instrument embodying such Guarantee Obligation, unless such primary obligation and the maximum amount for which such guaranteeing person may be liable are
not stated or determinable, in which case the amount of such Guarantee Obligation shall be such guaranteeing person’s maximum reasonably anticipated liability in respect thereof as determined by the Company in good faith. 

“Hedge Agreements”: all interest rate or currency swaps, caps or collar agreements, foreign exchange agreements,
commodity contracts or similar arrangements entered into by the Company or its Restricted Subsidiaries providing for protection against fluctuations in interest rates, currency exchange rates or commodity prices, either generally or under specific
contingencies. 
 “Immaterial Subsidiary”: a Subsidiary that does not, as of the last day of the most recently
completed four fiscal quarter period of Company for which financial statements have been (or are required to have been) delivered pursuant to Section 6.01, (a) have assets with a value in excess of 5% of Consolidated Total Assets of the Company
and its Restricted Subsidiaries on a Pro Forma Basis and did not have assets, in the aggregate for all such Immaterial Subsidiaries and their respective Restricted Subsidiaries, exceeding 10% of Consolidated Total Assets the Company and its
Restricted Subsidiaries on a Pro Forma Basis or (b) generate revenue in excess of 5% of consolidated revenues of the Company and its Restricted Subsidiaries on a Pro Forma Basis and does not generate revenue, in the aggregate for all such immaterial
Subsidiaries and their respective Subsidiaries, exceeding 10% of consolidated revenue of the Company and its Restricted Subsidiaries on a Pro Forma Basis as of the last day of the most recently ended Test Period. 

  
 33 

 “Incremental Amendment”: as defined in Section 2.24. 

“Incremental Cap Amount”: at any date of determination, an aggregate amount equal to the sum of 

(a)    such maximum amount as would not, after giving effect thereto (and assuming any Incremental Revolving Credit
Commitment is fully drawn without netting the cash proceeds from such incremental loans), cause the Senior Secured Net Leverage Ratio to exceed 2.25:1.00, determined on a Pro Forma Basis as of the last day of the most recently ended Test Period;
plus 
 (b)    the aggregate amount of all voluntary prepayments of the Term Loans and Revolving Credit Loans (to
the extent accompanied by a permanent commitment reduction in respect thereof) made following the Closing Date and prior to such date (to the extent not funded with the proceeds of long-term Indebtedness (other than revolving Indebtedness));
plus 
 (c)    $100,000,000; 

provided that the amounts under clauses (b) and (c) above may be incurred without regard to the Senior Secured Net Leverage Ratio and unless the
Company elects otherwise, each Incremental Facility will be deemed to be incurred first under clause (a), with the balance being incurred under clauses (b) and (c) as specified by the Company, and if an Incremental Facility is incurred in part under
clause (a) and in part under clauses (b) and/or (c), the Company shall not be required to give pro forma effect to amounts incurred under clauses (b) and/or (c) when calculating availability under clause (a). 

“Incremental Facilities”: collectively, the Incremental Term Loans and the Incremental Revolving Credit Commitments.

 “Incremental Revolving Credit Commitment”: as defined in Section 2.24. 

“Incremental Revolving Credit Commitment Lender”: as defined in Section 2.24. 

“Incremental Revolving Credit Loans”: Loans made pursuant to Incremental Revolving Credit Commitments. 

“Incremental Term Loan Commitments”: as defined in Section 2.24 

“Incremental Term Loans”: as defined in Section 2.24. 

“Indebtedness”: of any person, without duplication, (a) all obligations of such person for borrowed money, (b) all
obligations of such person evidenced by bonds, debentures, notes or similar instruments, (c) all obligations of such person upon which interest charges are customarily paid, (d) all obligations of such person under conditional sale or other title
retention agreements relating to property or assets purchased by such person, (e) all obligations of such person issued or assumed as the deferred purchase price of property or services, (f) all 

  
 34 

 
obligations of the type described in clauses (a) – (e) above and (g) – (j) below of others secured by (or for which the holder of such Indebtedness has an existing right, contingent or
otherwise, to be secured by) any Lien on property owned or acquired by such person, whether or not the obligations secured thereby have been assumed, (g) all guarantees by such person of obligations of the type described in clauses (a) – (f)
above and (h) – (j) below of others, (h) all Capital Lease Obligations of such person, (i) all obligations of such person in respect of interest rate protection agreements, foreign currency exchange agreements or other interest or exchange rate
hedging arrangements valued as determined in accordance with GAAP, (j) all obligations of such person as an account party in respect of letters of credit and bankers’ acceptances (based on the maximum amount then available to be drawn
thereunder) and (k) all obligations of such Person in respect of Disqualified Capital Stock, valued in the case of redeemable preferred interests, at the greater of its voluntary or involuntary liquidation preference plus accrued and unpaid
dividends; provided, however, that Indebtedness shall not include (x) trade accounts payable in the ordinary course of such Person’s business, (y) obligations under or in respect of any Permitted Securitization Financing or
(z) obligations under the 2018 Notes or the 2008 Indenture; provided that the 2008 Indenture has been satisfied and discharged in accordance with its terms. The Indebtedness of any Person shall include the Indebtedness of any
partnership in which such Person is a general partner.
 “Indemnitee”: as defined in Section 10.05(b). 

“Initial Revolving Credit Commitment”: as to any Lender, the obligation of such Lender, if any, to make Revolving Credit
Loans and participate in Letters of Credit, in an aggregate principal and/or face amount not to exceed the amount set forth under the heading “Initial Revolving Credit Commitment” opposite such Lender’s name on Annex A, or, as
the case may be, in the Assignment and Acceptance pursuant to which such Lender became a party hereto, as the same may be changed from time to time pursuant to the terms hereof. The aggregate amount of the Initial Revolving Credit Commitments
as of the Closing Date is $400,000,000. 
 “Initial Revolving Credit Loans”: collectively, Standby Loans and
Competitive Loans. 
 “Initial Term Loans”: as defined in Section 2.01. 

“Initial Term Loan Commitments”: as to any Lender, the commitment of such Lender, if any, to make an Initial Term Loan
to the Company hereunder on the Closing Date in a principal amount not to exceed the amount set forth under the heading “Initial Term Loan Commitment” opposite such Lender’s name on Annex A, or, as the case may be, in the Assignment
and Acceptance pursuant to which such Lender became a party hereto, as the same may be changed from time to time pursuant to the terms hereof. The aggregate amount of the Initial Term Loan Commitments as of the Closing Date is $550,000,000.

 “Insolvency”: with respect to any Multiemployer Plan, the condition that such Plan is insolvent within the meaning
of Section 4245 of ERISA. 
 “Insolvent”: pertaining to a condition of Insolvency. 

“Intellectual Property”: as defined in the Guarantee and Collateral Agreement. 

  
 35 

 “Interest Coverage Ratio Covenant”: the interest coverage ratio covenant
set forth in Section 7.01(b). 
 “Interest Coverage Ratio Covenant Default”: (i) a failure to comply with the Interest
Coverage Ratio Covenant or (ii) the taking of any action by the Company or its Restricted Subsidiaries if such action was prohibited hereunder solely due to the existence of an Interest Coverage Ratio Covenant Default of the type described in clause
(i) of this definition. 
 “Interest Election Request”: a request by a Borrower to convert or continue a Term
Borrowing or Standby Borrowing in accordance with Section 2.13. 
 “Interest Payment Date”: with respect to any Loan,
the last day of each Interest Period applicable thereto and, in the case of a Eurocurrency Loan with an Interest Period of more than three months’ duration or a Fixed Rate Loan with an Interest Period of more than 90 days’ duration,
each day that would have been an Interest Payment Date for such Loan had successive Interest Periods of three months’ duration or 90 days’ duration, as the case may be, been applicable to such Loan and, in addition, any date on which
such Loan shall be prepaid. 
 “Interest Period”: (a) as to any Eurocurrency Borrowing, the period commencing on the
date of such Borrowing and ending on the numerically corresponding day (or, if there is no numerically corresponding day, on the last day) in the calendar month that is 1, 2, 3 or 6 months (or, if all the applicable Lenders agree, 12 months)
thereafter, as the applicable Borrower may elect, (b) as to any Base Rate Borrowing, the period commencing on the date of such Borrowing and ending on the earlier of (i) the next succeeding day which shall be the last Business Day of any March,
June, September or December and (ii) the Termination Date and (c) as to any Fixed Rate Borrowing, the period commencing on the date of such Borrowing and ending on the date specified in the Competitive Bids in which the offer to make the Fixed Rate
Loans comprising such Borrowing were extended, which shall not be earlier than seven days after the date of such Borrowing or later than 360 days after the date of such Borrowing; provided, however, that if any Interest Period
would end on a day other than a Business Day, such Interest Period shall be extended to the next succeeding Business Day unless, in the case of Eurocurrency Loans only, such next succeeding Business Day would fall in the next calendar month, in
which case such Interest Period shall end on the next preceding Business Day. Interest shall accrue from and including the first day of an Interest Period to but excluding the last day of such Interest Period. For purposes hereof, the date
of a Borrowing initially shall be the date on which such Borrowing is made and, in the case of a Standby Borrowing or a Term Borrowing, as applicable, thereafter shall be the effective date of the most recent conversion or continuation of such
Borrowing. 
 “Interpolated Screen Rate”: in relation to the LIBO Rate for any Loan, the rate which results from
interpolating on a linear basis between: (a) the rate appearing on the ICE Benchmark Administration page (or on any successor or substitute page of such service) for the longest period (for which that rate is available) which is less than the
Interest Period and (b) the rate appearing on the ICE Benchmark Administration page (or on any successor or substitute page of such service) for the shortest period (for which that rate is available) which exceeds the Interest Period each as of
approximately 11:00 A.M., London time, on the Quotation Day for such Interest Period. 

  
 36 

 “Investment Grade Rating”: a rating equal to or higher than Baa3 (or the
equivalent) by Moody’s and BBB- (or the equivalent) by S&P, or an equivalent rating by any other nationally recognized statistical rating agency selected by the Borrower. 

“Investment Grade Securities”: 

(1)    securities that have an Investment Grade Rating; and 

(2)    investments in any fund that invests at least 95% of its assets in investments of the type described in clause (1),
cash and/or Cash Equivalents. 
 “Investments”: as to any Person, any (a) purchase or other acquisition of
Capital Stock or debt or other securities of another Person, (b) loan, advance, extension of credit (by way of guaranty of otherwise) or capital contribution to, guaranty or assumption of Indebtedness of, or purchase or other acquisition of any
other debt or equity participation or interest in, another Person, including any partnership or joint venture interest in such other Person or (c) purchase or other acquisition (in one transaction or a series of transactions, including by way
of merger) of all or substantially all of the property and assets or business of another Person or assets constituting a business unit, line of business or division of such Person. For purposes of the definition of “Unrestricted
Subsidiary” and Section 7.07: 
  

	 	(1)	“Investments” shall include the portion (proportionate to the Company or the applicable Restricted Subsidiary’s equity interest in such Subsidiary) of the Fair Market Value of the net assets of a
Subsidiary of the Company at the time that such Subsidiary is designated an Unrestricted Subsidiary; provided, however, that upon a redesignation of such Subsidiary as a Restricted Subsidiary, the Company shall be deemed to continue to
have a permanent “Investment” in an Unrestricted Subsidiary equal to an amount (if positive) equal to: 

  

	 	(a)	the Company’s “Investment” in such Subsidiary at the time of such redesignation, less 

  

	 	(b)	the portion (proportionate to the Company’s equity interest in such Subsidiary) of the Fair Market Value of the net assets of such Subsidiary at the time of such redesignation; and 

 

	 	(2)	any property transferred to or from an Unrestricted Subsidiary shall be valued at its Fair Market Value at the time of such transfer. 

The amount of any Investment outstanding at any time shall be the original cost of such Investment (without adjustment for any increases or
decreases in the value of such Investments), reduced by (except in the case of any Investments made under Section 7.07(o) which returns which are included in the definition of “Available Amount”) any dividends, distributions, return
of capital, returns of principal, profits on sale, repayments, income and similar amounts received in cash by the Company or a Restricted Subsidiary in respect of such Investment. 

“Issuing Lender”: each of Citibank, N.A., Royal Bank of Canada and PNC Bank, National Association, acting through any of
its Affiliates or branches, in its capacity as an issuer 

  
 37 

 
of Letters of Credit hereunder, and any other Revolving Credit Lender from time to time designated by the Company as an Issuing Lender with the consent of such Revolving Credit Lender and the
Administrative Agent; provided that no Issuing Lender shall be required to issue Letters of Credit exceeding such amount as shall be agreed to in a separate writing by such Issuing Lender (such amount with respect to each Issuing Lender, such
Issuing Lender’s “Fronting Cap”); it being agreed that the Fronting Cap as of the Closing Date with respect to (x) Citibank, N.A. is $12,500,000, (y) Royal Bank of Canada is $20,000,000 and (z) PNC Bank, National
Association is $12,500,000. An Issuing Lender may, in its discretion, arrange for one or more Letters of Credit to be issued by Affiliates or branches of such Issuing Lender, in which case the term “Issuing Lender” shall include any
such Affiliate or branch with respect to Letters of Credit issued by such Affiliate or branch. 
 “Joint Bookrunners and Joint Lead
Arrangers”: Goldman Sachs Bank USA, Citigroup Global Markets Inc., HSBC Securities (USA) Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, RBC Capital Markets, U.S. Bank National Association and KeyBanc Capital Markets, in
their capacities as joint bookrunners and joint lead arrangers of the Facilities hereunder. 
 “Junior
Debt”: collectively, (a) any Indebtedness incurred under Section 7.02(j), to the extent unsecured or secured on a junior basis to the Obligations, (b) Credit Agreement Refinancing Debt, to the extent unsecured or secured on a
junior basis to the Obligations, (c) [reserved], (d) Permitted Acquisition Indebtedness, to the extent unsecured or secured on a junior basis to the Obligations and (e) any Indebtedness that is subordinated in right of payment to the Obligations
hereunder. 
 “L/C Commitment”: $50,000,000. 

“L/C Disbursement”: a payment or disbursement made by any Issuing Lender pursuant to a Letter of Credit issued by such
Issuing Lender. 
 “L/C Fee”: as defined in Section 3.03. 

“L/C Obligations”: at any time, an amount equal to the sum of (a) the aggregate then undrawn and unexpired amount of the
then outstanding Letters of Credit and (b) the aggregate amount of drawings under Letters of Credit that have not then been reimbursed pursuant to Section 3.05. 

“L/C Participants”: with respect to any Letter of Credit, the collective reference to all the Revolving Credit Lenders
other than each Issuing Lender that issued such Letter of Credit. 
 “Latest Maturity Date”: at any time, the latest
maturity or expiration date applicable to any Loan or Commitment (or, if so specified, applicable to the specified Loans or Commitments or the Class thereof), including the latest maturity or expiration date of any Other Term Loan, Other Revolving
Credit Loan, Other Term Commitment, Other Revolving Credit Commitment, Extended Term Loan, Extended Revolving Credit Loan, Extended Term Commitment, Extended Revolving Credit Commitment, Incremental Revolving Credit Commitment, Incremental Term Loan
Commitment, Incremental Revolving Credit Loan or Incremental Term Loan hereunder at such time. 

  
 38 

 “Lender Insolvency Event”: (i) a Lender or its Parent Company has been
adjudicated as, or determined by any Governmental Authority having regulatory authority over such person or its assets to be, insolvent, or is generally unable to pay its debts as they become due, or admits in writing its inability to pay its debts
as they become due, or makes a general assignment for the benefit of its creditors, or (ii) such Lender or its Parent Company is the subject of a bankruptcy, insolvency, reorganization, liquidation or similar proceeding, or a receiver, trustee,
conservator, intervenor or sequestrator or the like has been appointed for such Lender or its Parent Company, or such Lender or its Parent Company has indicated its consent to or acquiescence in any such proceeding or appointment; provided,
that, for the avoidance of doubt, a Lender Insolvency Event shall not have occurred with respect to a Lender solely (A) as the result of the acquisition or maintenance of an ownership interest in such Lender or its Parent Company or the exercise of
control over a Lender or its Parent Company by a Governmental Authority or an instrumentality thereof or (B) in the case of a solvent Lender, the precautionary appointment of an administrator, guardian, custodian or other similar official by a
Governmental Authority or instrumentality thereof under or based on the law of the country where such Lender or its Parent Company is subject to home jurisdiction supervision if applicable law requires that such appointment not be publicly
disclosed, in any such case where such action does not result in or provide such Lender or its Parent Company with immunity from the jurisdiction of courts within the United States or from the enforcement of judgments or writs of attachment on its
assets or permit such Lender or its Parent Company (or such Governmental Authority or instrumentality) to reject, repudiate, disavow or disaffirm any contracts or agreements made with such Lender. 

“Lender Presentation”: the Lender Presentation dated October 2016 and furnished to the Administrative Agent in
connection with this Agreement. 
 “Lenders”: as defined in the preamble hereto. 

“Letters of Credit”: any letter of credit issued pursuant to Article 3 of this Agreement. 

“LIBO Rate”: with respect to each day during each Interest Period pertaining to a Eurocurrency Loan in Dollars or any
Alternative Currency (other than Euros), the rate per annum determined by the Administrative Agent to be: 
 (a)    the
arithmetic average of the London Interbank Offered Rates administered by the ICE Benchmark Administration (or any Person that takes over administration of such rate) for deposits in Dollars or any Alternative Currency (other than Euros) for a
duration equal to or comparable to the duration of such Interest Period which appear on the relevant Reuters Monitor Money Rates Service page (being currently the page designated as “LIBO”) (or such other commercially available
source providing quotations of the London Interbank Offered Rates for deposits in Dollars or any Alternative Currency (other than Euros) as may be designated by the Administrative Agent from time to time and as consented to by the Company) at or
about 11:00 A.M. (London time) on the Quotation Day for such Interest Period or 
 (b)    if no such page (or other
source) is available, the Interpolated Screen Rate; 

  
 39 

 provided that (x) the LIBO Rate with respect to the Initial Term Loans shall at no time be less than 1.00%
per annum and (y) the LIBO Rate in all other circumstances shall at no time be less than 0.00% per annum. 

“Lien”: any mortgage, deed of trust, pledge, hypothecation, assignment, deposit arrangement, encumbrance, lien
(statutory or other), charge or other security interest or any similar security arrangement of any kind or nature whatsoever (including, without limitation, the interest of a vendor or lessor under any conditional sale, any other title retention
agreement, any capital lease or any other financing lease having substantially the same economic effect as any of the foregoing). 

“Limited Condition Transaction”: any Permitted Acquisition or other permitted Investment or acquisition the consummation
of which is not conditioned on the availability of, or on obtaining, third party financing. 
 “Loan”: any Competitive
Loan, Standby Loan or Term Loan. 
 “Loan Documents”: this Agreement, the Security Documents, the Applications, the
Notes and the Designation Letters. 
 “Loan Extension Agreement”: as defined in Section 2.29. 

“Loan Extension Amendment”: as defined in Section 2.29. 

“Loan Extension Offer”: as defined in Section 2.29. 

“Loan Parties”: each Borrower and each Subsidiary Guarantor. 

“Majority Facility Lenders”: with respect to any Facility, the holders of more than 50% of the aggregate unpaid
principal amount of the Term Loans or the Total Revolving Extensions of Credit, as the case may be, outstanding under such Facility (or, in the case of the Revolving Credit Facility, prior to any termination of the Revolving Credit Commitments, the
holders of more than 50% of the Total Revolving Credit Commitments). The outstanding Term Loans and Revolving Credit Commitments of any Defaulting Lender shall be disregarded in determining the Majority Facility Lenders at any time. 

“Majority Revolving Credit Facility Lenders”: the Majority Facility Lenders in respect of the Revolving Credit Facility.

 “Majority Term Loan Facility Lenders”: the Majority Facility Lenders in respect of the Term Loan Facility. 

“Material Adverse Effect”: a material adverse change in or an event or occurrence materially and adversely affecting (a)
the business, assets, property, operations or condition (financial or otherwise) of the Company and its Subsidiaries taken as a whole, (b) a material impairment of the ability of the Company and the other Loan Parties, taken as a whole, to perform
their obligations under the Loan Documents to which they are or will be a party or (c) the validity or enforceability of this Agreement or any of the other Loan Documents or the rights and remedies of the Agents and the Lenders hereunder or
thereunder. 

  
 40 

 “Materials of Environmental Concern”: any gasoline or petroleum (including
crude oil or any fraction thereof) or petroleum products, polychlorinated biphenyls, urea-formaldehyde insulation, asbestos, pollutants, contaminants, radioactivity, and any other substances, wastes or materials defined as hazardous or toxic under
any Environmental Law or that are regulated pursuant to or could give rise to liability under any Environmental Law. 
 “Minimum
Extension Condition”: as defined in Section 2.29. 
 “Minimum Liquidity Test”: at any time, the sum of
(a) cash and Cash Equivalents of the Company and its Restricted Subsidiaries, at such time, (other than (i) cash and Cash Equivalents that would appear as “restricted” in favor of any Person other than the Collateral Agent (in its capacity
as such) on a consolidated balance sheet of the Company prepared in accordance with GAAP and (ii) cash and Cash Equivalents subject to Liens permitted under Section 7.03(d) or 7.03(t)) plus (b) unused Revolving Credit Commitments shall not be
less than $100,000,000. 
 “Moody’s”: Moody’s Investors Service, Inc, or any successor thereto. 

“Mortgaged Properties”: the real properties of the Loan Parties specified on Schedule 6.12,
and the real properties which become subject to a Mortgage pursuant to Section 6.08(b) as to which the Collateral Agent for the benefit of the Secured Parties shall be granted a Lien pursuant to one or more Mortgages. 

“Mortgages”: each of the mortgages and deeds of trust made by any Loan Party in favor of, or for the benefit of, the
Collateral Agent for the benefit of the Secured Parties, in such form or forms as are reasonably satisfactory to the Collateral Agent, including the Mortgages delivered prior to the Closing Date in connection with the Existing Credit Agreement and
any amendments or modifications thereto. 
 “Multiemployer Plan”: a Plan that is a multiemployer plan as defined in
Section 4001(a)(3) of ERISA. 
 “Net Cash Proceeds”: (a) in connection with any Asset Sale or any Recovery Event,
the proceeds thereof in the form of cash and Cash Equivalents (including any such proceeds received by way of deferred payment of principal pursuant to a note or installment receivable or purchase price adjustment receivable or otherwise, and any
other cash proceeds subsequently received in respect of noncash consideration initially received, but only as and when received) of such Asset Sale or Recovery Event, net of attorneys’ fees, accountants’ fees, broker’s fees and
commissions, investment banking fees, amounts required to be applied to the repayment of Indebtedness secured by a Lien permitted hereunder on any asset which is the subject of such Asset Sale or Recovery Event (other than any such Indebtedness
assumed by the purchaser of such asset and other than any Lien pursuant to a Security Document, but including premium, make-whole or penalty payments applicable thereto and any fees and expenses (including upfront fees and expenses and original
issue discount), other customary fees and expenses actually incurred in connection therewith and amounts provided as a reserve, in accordance with GAAP, against (x) 

  
 41 

 
any liabilities under any indemnification obligations associated with such Asset Sale or Recovery Event or (y) any other liabilities retained by the Company or any Subsidiary thereof associated
with the properties sold in such Asset Sale or subject to such Recovery Event (provided that, in each case, to the extent and at the time any such amounts are released from such reserve, such amounts shall constitute Net Cash Proceeds), and
net of taxes paid or reasonably estimated to be payable as a result thereof, including any taxes payable, reasonably estimated to be payable, or reserved against as a result of the repatriation (or deemed repatriation under Section 956 of the
Code) of any proceeds to the Borrower (after taking into account any available tax credits or deductions and any tax sharing arrangements), and, in the case of any non-wholly owned Restricted Subsidiaries, net of the pro rata portion of Net Cash
Proceeds attributable to minority interests and not available for the account of the Company and its wholly-owned Subsidiaries and (b) in connection with any issuance or sale of debt securities or instruments or the incurrence of loans, the cash
proceeds received from such issuance or incurrence, net of attorneys’ fees, investment banking fees, accountants’ fees, underwriting discounts and commissions and other customary fees and expenses actually incurred in connection
therewith.
 “Net Equity Proceeds”: with respect to each capital contribution to any Person or sale or issuance by any
Person of its Capital Stock, the cash proceeds (including cash and Cash Equivalents) received by such Person therefrom net of reasonable transaction costs (including, as applicable, any underwriting, brokerage or other customary discounts and
commissions and reasonable legal, advisory and other fees and expenses associated therewith). 
 “NFIP”: as defined in
Section 6.08(b). 
 “Non-Defaulting Lender”: at any time, each Lender that is not a Defaulting Lender at such time.

 “Non-Excluded Taxes”: as defined in Section 2.20(a). 

“Non-U.S. Lender”: as defined in Section 2.20(e). 

“Note”: any promissory note evidencing any Loan. 

“Obligations”: the unpaid principal of and interest on (including, without limitation, interest accruing after the
maturity of the Loans and Reimbursement Obligations and any interest that accrues after the commencement of any case, proceeding or other action relating to the bankruptcy, insolvency or reorganization of any Restricted Subsidiary party thereto (or
would accrue but for the operation of applicable bankruptcy or insolvency laws), whether or not such interest is allowed or allowable as a claim in any such proceeding) the Loans, the Reimbursement Obligations and all other obligations and
liabilities of the Loan Parties to the Administrative Agent, the Collateral Agent or to any Lender, any Qualified Counterparty, any Cash Management Bank or any Designated Bilateral Letter of Credit Issuer, whether direct or indirect, absolute or
contingent, due or to become due, or now existing or hereafter incurred, which may arise under, out of, or in connection with, this Agreement, any other Loan Document, the Letters of Credit, any Specified Hedge Agreement, any Specified Cash
Management Agreement or any Designated Bilateral Letter of Credit or any other document made, delivered or given in connection herewith or therewith, whether on account of principal, interest, 

  
 42 

 
reimbursement obligations, fees, indemnities, costs, expenses (including, without limitation, all fees, charges and disbursements of counsel to the Administrative Agent, the Collateral Agent or
to any Lender that are required to be paid by the Loan Parties pursuant to any Loan Document) or otherwise; provided, that (i) obligations of any Borrower or any Subsidiary Guarantor under any Specified Hedge Agreement, any Specified
Cash Management Agreement or any Designated Bilateral Letters of Credit shall be secured and guaranteed only to the extent that, and for so long as, the other Obligations are so secured and guaranteed and (ii) any release of Collateral or
Subsidiary Guarantors effected in the manner permitted by this Agreement shall not require the consent of holders of obligations under Specified Hedge Agreements, Specified Cash Management Agreements or any Designated Bilateral Letters of
Credit. Notwithstanding the foregoing, (x) the Obligations shall in no event include any Excluded Swap Obligations, (y) the aggregate principal amount of all obligations in respect of Designated Bilateral Letters of Credit that shall
constitute an “Obligation” shall not exceed $300,000,000 and (z) the aggregate principal amount of all obligations in respect of loans to Foreign Subsidiaries described in clause (ii) of the definition of Cash Management Agreement
that shall constitute an “Obligation” shall not exceed $50,000,000. 
 “OFAC”: the Office of Foreign Assets
Control of the U.S. Treasury Department. 
 “Original Closing Date”: December 2, 2015. 

“Other Revolving Credit Commitments”: one or more Classes of Revolving Credit Commitments hereunder that result from a
Refinancing Amendment. 
 “Other Revolving Credit Loans”: one or more Classes of Revolving Credit Loans that result
from a Refinancing Amendment. 
 “Other Taxes”: any and all present or future stamp, court or documentary, intangible,
recording, filing or similar Taxes arising from any payment made under any Loan Document or from the execution, delivery or enforcement of, or otherwise with respect to, this Agreement or any other Loan Document, except such Taxes imposed with
respect to an assignment (other than an assignment pursuant to Section 10.19) that are imposed as a result of a present or former connection between the Administrative Agent or Lender and the Governmental Authority imposing such Tax (other than any
such connection arising solely from such Agent’s or Lender’s having executed, delivered or performed its obligations or received a payment under, or enforced, this Agreement or any other Loan Document). 

“Other Term Commitments”: one or more Classes of Term Loan Commitments hereunder that result from a Refinancing
Amendment. 
 “Other Term Loans”: one or more Classes of Term Loans that result from a Refinancing Amendment. 

“Parent Company” shall mean, with respect to a Lender, the bank holding company (as defined in Regulation Y of the Board), if
any, of such Lender, and/or any person owning, beneficially or of record, directly or indirectly, a majority of the shares of such Lender. 

“Participant”: as defined in Section 10.06(b). 

  
 43 

 “Participant Register”: as defined in Section 10.06(b). 

“Payment Amount”: as defined in Section 3.05. 

“Payment Date”: the last Business Day of each March, June, September and December. 

“Payment Office”: the office specified from time to time by the Administrative Agent as its payment office by notice to
the Company and the Lenders. 
 “PBGC”: the Pension Benefit Guaranty Corporation established pursuant to
Subtitle A of Title IV of ERISA (or any successor). 
 “Perfection Certificate”: the Perfection Certificate
substantially in the form of Exhibit B to the Guarantee and Collateral Agreement. 
 “Permitted Acquisition”: an
acquisition or any series of related acquisitions by the Company or any of its Restricted Subsidiaries (including any merger where the Company or any of its Restricted Subsidiaries is the surviving entity) of (a) all or substantially all of the
assets of a Person or a majority of the outstanding voting Capital Stock or economic interests of a Person that, upon consummation of such acquisition, will be a Subsidiary of the Company or merged with or into the Company or a Subsidiary of the
Company or (b) any division, line of business or other business unit of a Person (such Person or such division, line of business or other business unit of such Person shall be referred to herein as the “Permitted Acquisition
Target”), in each case that is a type of business (or assets used in a type of business) permitted to be engaged in pursuant to Section 7.14, so long as (i) no Event of Default shall then exist or would exist after giving effect thereto,
(ii) the Company shall demonstrate to the reasonable satisfaction of the Administrative Agent that, both at the time of the proposed acquisition and after giving effect to the acquisition on a Pro Forma Basis as of the last day of the most recently
ended Test Period, the Company is in compliance with the Financial Covenants and (iii) after giving effect thereto, the Company and its Restricted Subsidiaries shall comply with Section 6.08 to the extent applicable. 

“Permitted Acquisition Indebtedness”: collectively, Permitted Assumed Acquisition Indebtedness and Permitted Incurred
Acquisition Indebtedness. 
 “Permitted Acquisition Target”: as defined in the definition of Permitted Acquisition.

 “Permitted Assumed Acquisition Indebtedness”: Indebtedness of a Permitted Acquisition Target that is not incurred
by such Permitted Acquisition Target, the Company or any Subsidiary in contemplation of (or in connection with) the applicable Permitted Acquisition. 

“Permitted Equity Issuance”: any sale or issuance of any Qualified Capital Stock of the Company to any Person other than
a Subsidiary of the Company, or capital contribution of cash or Cash Equivalents to the Company from any Person other than a Subsidiary of the Company in respect of any Qualified Capital Stock. 

“Permitted Incurred Acquisition Indebtedness”: Indebtedness incurred by any Loan Party to finance a Permitted
Acquisition (excluding any obligations under agreements providing 

  
 44 

 
for earn outs, deferred purchase price, indemnification, adjustment of purchase price or similar obligations until such time as such obligations are past due for ten days), or from guaranty
obligations or letters of credit, surety bonds or performance bonds securing the performance of the Company or any Restricted Subsidiary pursuant to such agreements, in connection with Permitted Acquisitions. 

“Permitted Refinancing”: any Indebtedness issued in exchange for, or the net proceeds of which are used to extend,
refinance, renew, replace, defease or refund, other Indebtedness; provided that: 
 (i)    the principal amount
(or accreted value, if applicable) of such Indebtedness does not exceed the principal amount (or accreted value, if applicable) of the Indebtedness so exchanged, extended, refinanced, renewed, replaced, defeased or refunded (plus all accrued
interest and premium, make-whole, penalty, exit or other payments applicable thereto and any fees and expenses (including upfront fees and original issue discount) in connection therewith); 

(ii)    other than in respect of Permitted Refinancing of Indebtedness incurred under Section 7.02(c), such Indebtedness
has a final maturity date no earlier than the final maturity date of, and has a weighted average life to maturity equal to or greater than the weighted average life to maturity of, the Indebtedness being exchanged, extended, refinanced, renewed,
replaced, defeased or refunded; 
 (iii)    such Indebtedness shall not have any obligors other than the obligors on the
Indebtedness being exchanged, extended, refinanced, renewed, replaced, defeased or refunded; and 
 (iv)    if such
Indebtedness being exchanged, extended, refinanced, renewed, replaced, defeased or refunded is subordinated in right of payment to the Obligations, such new, extension, refinancing, renewal, replacement, defeasance or refunding Indebtedness shall be
subordinated in right of payment to the Obligations on terms at least as favorable to the Lenders, taken as a whole, as those contained in the documentation governing the Indebtedness being exchanged, extended, refinanced, renewed, replaced,
defeased or refunded. 
 “Permitted Securitization Documents”: all documents and agreements evidencing, relating to or
otherwise governing a Permitted Securitization Financing. 
 “Permitted Securitization Financing”: any transaction or
series of transactions pursuant to which any non-Guarantor Subsidiaries of the Company may (a) sell, convey or otherwise transfer, on a standalone or revolving basis, Securitization Assets to a Securitization SPE or any other person and/or (b) grant
a security interest in any Securitization Assets; provided that (i) recourse to any Borrower or any Subsidiary (other than any Securitization SPE) in connection with such transactions shall be limited to the extent customary for similar
transactions in the applicable jurisdictions and/or to the extent necessary to comply with applicable laws or regulations and (ii) the Securitization Net Investment outstanding thereunder at any time shall not exceed $100.0 million at any time.

  
 45 

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

“Plan”: at a particular time, any employee benefit plan that is covered by Title IV of ERISA and in respect of
which the Company or a Commonly Controlled Entity is (or, if such plan were terminated at such time, would under Section 4069 of ERISA be deemed to be) an “employer” as defined in Section 3(5) of ERISA. 

“Pledged Stock”: as defined in Guarantee and Collateral Agreement. 

“Prime Rate”: the rate of interest per annum determined from time to time by the Administrative Agent as its generally
applicable prime rate in effect at its principal office in New York City and notified to the Company. The prime rate is a rate set by the Administrative Agent based upon various factors including its costs and desired return, general economic
conditions and other factors, and is used as a reference point for pricing some loans, which may be priced at, above, or below such rate. 

“Pro Forma Basis”: for purposes of calculating the Senior Secured Net Leverage Ratio, Total Leverage Ratio, the Total
Net Leverage Ratio and the Consolidated EBITDA to Consolidated Interest Charges ratio: 
 (a)    any Permitted
Acquisition or Disposition of any Restricted Subsidiary, line of business, business unit or division that has been made by the Company or any of its Restricted Subsidiaries, and incurrences or repayments of Indebtedness in connection with such
Permitted Acquisition or Disposition, during the applicable reference period or subsequent to such reference period and on or prior to the date of determination will be given pro forma effect, as if they had occurred on the first day of the
applicable reference period; 
 (b)    any Person that is a Restricted Subsidiary of the Company on the date of
determination will be deemed to have been a Restricted Subsidiary of the Company at all times during such reference period; 

(c)    any Person that is not a Restricted Subsidiary of the Company on the date of determination will be deemed not to
have been a Restricted Subsidiary of the Company at any time during such reference period; and 
 For purposes of this definition, whenever
pro forma effect is given to a transaction, the pro forma calculations shall be made in good faith by a Responsible Officer of the Company and, except as set forth in the next sentence, in a manner consistent with Article 11 of Regulation S-X
of the Securities Act of 1933, as set forth in a certificate of a Responsible Officer of the Company (with supporting calculations) and reasonably acceptable to the Administrative Agent. In addition to any adjustments consistent with Regulation
S-X, such certificate may set forth additional pro forma adjustments arising out of factually supportable and identifiable synergies and/or cost savings initiatives attributable to such Permitted Acquisition or Disposition (net of any additional
costs associated with such Permitted Acquisition or Disposition) and expected in good faith to be realized within 12 months following such Permitted Acquisition or Disposition, including, but not limited to, (w) reduction in personnel expenses,
(x) reduction of costs related 

  
 46 

 
to administrative functions, (y) reductions of costs related to leased or owned properties and (z) reductions from the consolidation of operations and streamlining of corporate overhead (taking
into account, for purposes of determining such calculation, any historical financial statements of the business or entities acquired or disposed of, assuming such Permitted Acquisition or Disposition, and all other Permitted Acquisitions or
Dispositions that have been consummated since the beginning of such period, and any Indebtedness or other liabilities repaid or incurred in connection therewith had been consummated and incurred or repaid at the beginning of such period);
provided, that the aggregate amount of adjustments made pursuant to this sentence shall at no time exceed 15% of Consolidated EBITDA after giving pro forma effect thereto. For purposes of making the computation referred to above,
interest on any Indebtedness under a revolving credit facility computed on a pro forma basis shall be computed based upon the average daily balance of such Indebtedness during the applicable period. Interest on Indebtedness that may optionally
be determined at an interest rate based upon a factor of a prime or similar rate, a eurocurrency interbank offered rate, or other rate, shall be deemed to have been based upon the rate actually chosen, or, if none, then based upon such optional rate
chosen as the Borrower may designate. 
 Notwithstanding the foregoing or anything to the contrary herein, when calculating (A) the ECF
Percentage for purposes of Section 2.12(d) and (B) the Senior Secured Net Leverage Ratio, Total Leverage Ratio, the Total Net Leverage Ratio and the Consolidated EBITDA to Consolidated Interest Charges ratio for purposes of (i) the
definition of “Applicable Margin”, (ii) the definition of “Commitment Fee Percentage”, (iii) Section 7.01(a) and (iv) Section 7.01(b), the events described in this definition that occurred subsequent to the end of the
applicable reference period shall not be given pro forma effect. 
 “Projections”: as defined in Section 6.02(c). 

“Property”: any right or interest in or to property of any kind whatsoever, whether real, personal or mixed and whether
tangible or intangible, including, without limitation, Capital Stock. 
 “Protesting Lender”: shall have the meaning
assigned to such term in Section 2.25. 
 “Qualified Capital Stock”: any Capital Stock of the Company that is not
Disqualified Capital Stock. 
 “Qualified Counterparty”: (i) with respect to any Specified Hedge Agreement entered
into after the Closing Date, any counterparty thereto that, at the time such Specified Hedge Agreement was entered into, was a Lender or an Affiliate of a Lender, the Administrative Agent or the Collateral Agent or (ii) with respect to any Specified
Hedge Agreement entered into prior to the Closing Date, any counterparty thereto that was, as of the Closing Date, a Lender or an Affiliate of a Lender or of the Administrative Agent or the Collateral Agent.

“Qualified ECP Borrower”: in respect of any Swap Obligation, each Borrower that has total assets exceeding $10,000,000
(or total assets exceeding such other amount so that such Borrower is an “eligible contract participant” as defined in the Commodity Exchange Act) at the time such Swap Obligation is incurred. 

  
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 “Quarterly Financial Statements”: the unaudited condensed consolidated
balance sheet of the Company and related unaudited condensed consolidated statements of operations and cash flows of Company for each fiscal quarter ended after the latest Annual Financial Statements and at least 45 days before the Closing
Date. 
 “Quotation Day”: with respect to any Eurocurrency Borrowing and any Interest Period, the day that is two
Business Days prior to the first day of such Interest Period. 
 “Receivable”: any and all claims and rights of a Person to
receive payment arising from the provision of goods, credit or services by such Person to another Person pursuant to which such other Person is obligated to pay for such goods, credit or services. 

“Recordable Intellectual Property”: as defined in the Guarantee and Collateral Agreement. 

“Recovery Event”: any settlement of or payment in respect of, or any series of related settlements of or payments in
respect of, any property or casualty insurance claim or any condemnation proceeding relating to any asset of the Company or any of its Restricted Subsidiaries in excess of $25,000,000. 

“Refinanced Credit Agreement Debt” has the meaning given to such term in the definition of “Credit Agreement Refinancing
Debt”. 
 “Refinancing Amendment”: an amendment to this Agreement executed by each of (a) the Borrowers, (b) the
Administrative Agent and (c) each Additional Lender and Lender that agrees to provide any portion of the Credit Agreement Refinancing Debt being incurred pursuant thereto, in accordance with Section 2.30. 

“Register”: as defined in Section 10.06(e). 

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

“Regulation U”: Regulation U of the Board as in effect from time to time. 

“Reimbursement Obligation”: the obligation of the Borrower to reimburse each Issuing Lender pursuant to Section 3.05 for
amounts drawn under Letters of Credit issued by such Issuing Lender. 
 “Reinvestment Deferred Amount”: with respect
to any Reinvestment Event, the aggregate Net Cash Proceeds received by the Company or any of its Restricted Subsidiaries in connection therewith that are not applied to prepay the Term Loans pursuant to Section 2.12(b) as a result of the exercise of
reinvestment rights by the Company. 
 “Reinvestment Event”: any Asset Sale or Recovery Event. 

  
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 “Reinvestment Prepayment Amount”: with respect to any Reinvestment Event,
the Reinvestment Deferred Amount relating thereto less any amount expended prior to the relevant Reinvestment Prepayment Date to acquire or repair assets useful in, or otherwise reinvest in, the Company’s business. 

“Reinvestment Prepayment Date”: with respect to any Reinvestment Event, the earlier of (a) the date occurring one year
after such Reinvestment Event, provided that such date shall be extended by an additional 180 days if the applicable Reinvestment Deferred Amount shall have been committed to be reinvested prior to the date occurring one year after the
applicable Reinvestment Event so long as such Reinvestment Deferred Amount shall have been actually invested by the end of such 180 day period and (b) the date on which the Company shall have determined not to acquire or repair assets
useful in, or otherwise reinvest in, the Company’s business with all or any portion of the relevant Reinvestment Deferred Amount. 

“Rejection Notice”: as defined in Section 2.12(j). 

“Related Fund”: with respect to any Lender or Eligible Assignee, any fund that (x) invests in commercial loans and
similar extensions of credit and (y) is managed or advised by the same investment advisor as such Lender or Eligible Assignee, by such Lender or Eligible Assignee or an Affiliate of such Lender or Eligible Assignee or such investment advisor. 

“Related Parties”: with respect to any specified Person, such Person’s Affiliates and the respective directors,
trustees, officers, employees, agents and advisors of such Person and such Person’s Affiliates. 

“Reorganization”: with respect to any Multiemployer Plan, the condition that such plan is in reorganization within the
meaning of Section 4241 of ERISA. 
 “Reportable Event”: any of the events set forth in Section 4043(c) of
ERISA, other than those events as to which the thirty day notice period is waived. 
 “Repricing Transaction”: (a) the
prepayment, refinancing, substitution or replacement of all or a portion of the Initial Term Loans with the proceeds of a substantially concurrent incurrence by the Company or any controlled Affiliate thereof of any Indebtedness having an Effective
Yield that is less than the Effective Yield of such Initial Term Loans and (b) any repricing of the Initial Term Loans pursuant to an amendment hereto resulting in the Effective Yield payable thereon on the date of such amendment being lower than
the Effective Yield with respect to the Initial Term Loans immediately prior to the date of such amendment, in each case, the primary purpose of which is to lower the Effective Yield with respect to the Term Loans. 

“Required Lenders”: at any time, the holders of more than 50% of the sum of (a) the aggregate unpaid principal
amount of the Term Loans then outstanding and (b) the Total Revolving Credit Commitments then in effect or, if the Revolving Credit Commitments have been terminated, the Total Revolving Extensions of Credit then outstanding; provided
that “Required Lenders” shall exclude the Term Loan Lenders (in their capacities as such) and shall be determined without giving effect to outstanding Term Loans, in each case solely in connection with any amendment, waiver, consent or
approval with respect to (i) the Interest Coverage Ratio Covenant or any Interest Coverage Ratio Covenant Default, (ii) any extension of 

  
 49 

 
the maturity date for the Revolving Credit Facility, (iii) the termination of the Revolving Credit Commitments, any acceleration of Revolving Credit Loans and any requirement to Cash
Collateralize the L/C Obligations, (iv) interest rates or fees payable in connection with the Revolving Credit Facility, (v) any provision of Article 2 relating to payments required to be made (including any Cash Collateral required to be provided)
by the Company or any of its Subsidiaries solely with respect to the Revolving Credit Facility and (vi) any provision requiring that any payments be made or shared on a pro rata basis solely between or among Revolving Credit Lenders. The
outstanding Term Loans and Revolving Credit Commitments of any Defaulting Lender shall be disregarded in determining the Required Lenders at any time. 

“Requirement of Law”: as to any Person, the Certificate of Incorporation and By-Laws or other organizational or
governing documents of such Person (the “Organizational Documents”), and any law, treaty, rule or regulation, policy, order, judgment or determination of an arbitrator or a court or other Governmental Authority, in each case
applicable to or binding upon such Person or any of its Property or to which such Person or any of its Property is subject. 

“Responsible Officer”: the chief executive officer, president, chief financial officer, treasurer, vice president of
corporate finance, general counsel or chief legal officer of the Company, but in any event, with respect to financial matters, the chief financial officer, treasurer or vice president of corporate finance of the Company. 

“Restricted Payments”: as defined in Section 7.06. 

“Restricted Subsidiary”: the Company and any other Subsidiary of the Company other than an Unrestricted Subsidiary. 

“Revolving Credit Commitment”: the Initial Revolving Credit Commitment, any Incremental Revolving Credit Commitments
pursuant to an Incremental Amendment under Section 2.24, Extended Revolving Credit Commitments pursuant to a Loan Extension Amendment under Section 2.29 and/or Other Revolving Credit Commitments, if any, issued after the Closing Date pursuant to a
Refinancing Amendment entered into pursuant to Section 2.30, as the context may require. 
 “Revolving Credit Commitment
Period”: the period from and including the Closing Date to the earlier of (x) the Revolving Credit Termination Date and (y) the termination of the Revolving Credit Commitments in accordance with the terms hereof. 

“Revolving Credit Facility”: at any time, the facility governing the Initial Revolving Credit Commitments, each facility
governing a Class of Extended Revolving Credit Commitments, each Incremental Facility comprising a Class of Incremental Revolving Credit Commitments and/or each facility governing a Class of Other Revolving Credit Commitments, as applicable. 

“Revolving Credit Lender”: each Lender that has a Revolving Credit Commitment or a Revolving Credit Loan at such time
and shall include an Additional Lender, as applicable. 

  
 50 

 “Revolving Credit Loan”: (a) the Initial Revolving Credit Loans, (b) an
Incremental Revolving Credit Loan, (c) an Extended Revolving Credit Loan and/or (d) Other Revolving Credit Loan, as the context requires. 

“Revolving Credit Note”: as defined in Section 2.08(e). 

“Revolving Credit Percentage”: as to any Revolving Credit Lender at any time, the percentage which such Lender’s
Revolving Credit Commitment then constitutes of the Total Revolving Credit Commitments (or, at any time after the Revolving Credit Commitments shall have expired or terminated, the percentage which the aggregate amount of such Lender’s
Revolving Extensions of Credit then outstanding constitutes of the Total Revolving Extensions of Credit then outstanding). 

“Revolving Credit Termination Date”: November 2, 2021; provided that if such day is not a Business Day, the
Revolving Credit Termination Date shall be the immediately preceding Business Day. 
 “Revolving Extensions of
Credit”: as to any Revolving Credit Lender at any time, an amount equal to the sum of (a) the aggregate principal amount of all Revolving Credit Loans made by such Lender then outstanding and (b) such Lender’s Revolving
Credit Percentage of the L/C Obligations then outstanding. 
 “S&P”: Standard & Poor Global Ratings, a
subsidiary of S&P Global Inc., and any successor thereto. 
 “Sanctions”: all economic or financial sanctions or
trade embargoes imposed, administered or enforced from time to time by (a) the U.S. government, including those administered by the Office of Foreign Assets Control of the U.S. Department of the Treasury or the U.S. Department of State, or (b) the
United Nations Security Council, the European Union, any European Union member state or Her Majesty’s Treasury of the United Kingdom.

“Sanctioned Country”: at any time, a country, region or territory which is itself the subject or target of any Sanctions
(at the time of this Agreement, Crimea, Cuba, Iran, North Korea, Sudan and Syria).
 “Sanctioned Person”: at any time,
(a) any Person listed in any Sanctions-related list of designated Persons maintained by the Office of Foreign Assets Control of the U.S. Department of the Treasury, the U.S. Department of State, or by the United Nations Security Council, the
European Union or any European Union member state, (b) any Person operating, organized or resident in a Sanctioned Country or (c) any Person owned 50% or more by any such Person or Persons described in the foregoing clauses (a) or
(b).
 “SEC”: the Securities and Exchange Commission (or successors thereto or an analogous Governmental Authority).

 “Secured Parties”: as defined in the Guarantee and Collateral Agreement. 

  
 51 

 “Securitization Assets”: any or all Receivables (including any bills of
exchange) from time to time originated, acquired or otherwise owned by the Borrower or any Subsidiary, and all related assets and property, including all collateral securing such Receivables, all contracts and all guarantees or other obligations in
respect of such Receivable, proceeds collected on such Receivables, the accounts into which such proceeds are deposited and other assets which are customarily transferred or in respect of which security interests are customarily granted in
connection with asset securitization transactions and any related hedging obligations, in each case, whether now existing or arising in the future. 

“Securitization Net Investment”: at any time and with respect to any Permitted Securitization Financing, where the
Securitization Assets are sold to a Securitization SPE, the cash amount advanced by the lenders against such Securitization Assets or otherwise the cash amount paid to purchase such Securitization Assets, in each case, net of (a) any Investment
made by the Company or any of its Subsidiaries in connection with such Permitted Securitization Financing, (b) the aggregate principal balance of the relevant Receivables which have been collected in full or written off and (c) the aggregate
amount of any credit adjustments with respect to the relevant Receivables. 
 “Securitization SPE” means any Special
Purpose Securitization Subsidiary or any Person other than a Subsidiary of the Company which is, in each case, formed solely for the purposes of engaging in a Permitted Securitization Financing and any activities incidental or related thereto. 

“Security Documents”: the collective reference to the Guarantee and Collateral Agreement, the Mortgages (if applicable),
intellectual property security agreements and all other guarantee agreements, instruments and other documents delivered to the Collateral Agent guaranteeing the obligations and liabilities of the Loan Parties under the Loan Documents or granting a
Lien on any Property of any Person to secure the obligations and liabilities of any Loan Party under any Loan Document. 
 “Senior
Co-Manager”: PNC Capital Markets LLC, in its capacity as senior co-manager of the Facilities hereunder. 
 “Senior
Secured Net Leverage Ratio”: the Total Net Leverage Ratio but excluding from the numerator all Indebtedness of the Company and its Restricted Subsidiaries described in the definition of “Total Net Debt” that is not
secured by a Lien on any assets or properties of the Company or any of its Restricted Subsidiaries. 
 “Significant
Acquisition”: an acquisition the result of which is that Consolidated EBITDA, determined on a Pro Forma Basis after giving effect thereto, is equal to or greater than 115.0% of Consolidated EBITDA immediately prior to the consummation
of such Permitted Acquisition, in each case with respect to the Company and the Restricted Subsidiaries based on the most recently completed period of four consecutive fiscal quarters for which the financial statements and certificates required by
Section 6.01(a) or (b), as the case may be, have been or were required to have been delivered. 

  
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 “Significant Subsidiary”: any Subsidiary that would be a
“significant subsidiary” as defined in Article 1, Rule 1-02 of Regulation S-X. 
 “Single Employer
Plan”: any Plan that is covered by Title IV of ERISA, but which is not a Multiemployer Plan. 

“Solvent”: with respect to any Person, as of any date of determination, (a) the amount of the “present fair
saleable value” of the assets of such Person will, as of such date, exceed the amount of all “liabilities of such Person, contingent or otherwise”, as of such date, as such quoted terms are determined in accordance with applicable
federal and state laws governing determinations of the insolvency of debtors, (b) the present fair saleable value of the assets of such Person will, as of such date, be greater than the amount that will be required to pay the liability of such
Person on its debts as such debts become absolute and matured, (c) such Person will not have, as of such date, an unreasonably small amount of capital with which to conduct its business, and (d) such Person will be able to pay its debts as
they mature. For purposes of this definition, (i) “debt” means liability on a “claim”, and (ii) “claim” means any (x) right to payment, whether or not such a right is reduced to judgment, liquidated,
unliquidated, fixed, contingent, matured, unmatured, disputed, undisputed, legal, equitable, secured or unsecured or (y) right to an equitable remedy for breach of performance if such breach gives rise to a right to payment, whether or not such
right to an equitable remedy is reduced to judgment, fixed, contingent, matured or unmatured, disputed, undisputed, secured or unsecured. 

“SPC”: as defined in Section 10.06(i). 

“Special Purpose Securitization Subsidiary”: any Subsidiary of the Company which is (a) designated by the Board of
Directors of the Company as a Special Purpose Securitization Subsidiary in a resolution of its board of directors (or committees thereof) or by a certificate signed by a Responsible Officer and (b) organized in a manner intended to reduce the
likelihood that it would be substantively consolidated with the Company or any of the Subsidiaries (other than Special Purpose Securitization Subsidiaries) in the event the Company or any such Subsidiary or Unrestricted Subsidiary becomes subject to
a proceeding under the Bankruptcy Code (or other insolvency law) and whose only material assets consist of Securitization Assets, Investments received in respect thereof or other proceeds thereof.

“Specified Cash Management Agreement”: any Cash Management Agreement entered into by any Loan Party or any Restricted
Subsidiary and any Cash Management Bank. 
 “Specified Class”: as defined in Section 2.29. 

“Specified Disposition”: a Disposition of all or substantially all of the Company’s “Metals &
Minerals” business segment (for the avoidance of doubt, excluding any Specified Distribution). 
 “Specified
Distribution”: a distribution by the Company or any of its Subsidiaries to the shareholders of the Company of all or any portion of the Capital Stock of any Person that owns or operates, directly or indirectly, any material portion of
the Company’s “Metals and Minerals” business segment.

  
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 “Specified Hedge Agreement”: any Hedge Agreement entered into by any Loan
Party or any Restricted Subsidiary and any Qualified Counterparty. 
 “Spot Exchange Rate”: on any day, (a) with
respect to any Alternative Currency, the spot rate at which Dollars are offered on such day by Citibank, N.A., as Administrative Agent, for such Alternative Currency, and (b) with respect to Dollars in relation to any specified Alternative Currency,
the spot rate at which such specified Alternative Currency is offered on such day by Citibank, N.A., as Administrative Agent, for Dollars. For purposes of determining the Spot Exchange Rate in connection with an Alternative Currency Borrowing,
such Spot Exchange Rate shall be determined as of the Denomination Date for such Borrowing with respect to transactions in the applicable Alternative Currency that will settle on the date of such Borrowing, and, upon the Company’s request, the
Administrative Agent shall inform the Company of such Spot Exchange Rate. 
 “Standby Borrowing”: a borrowing
consisting of simultaneous Standby Loans from each of the Revolving Credit Lenders. 
 “Standby Borrowing Request”: a
request made pursuant to Section 2.07 in the form of Exhibit A-5 hereto. 
 “Standby Loan”: a revolving loan made by a
Lender pursuant to Section 2.07. Each Standby Loan shall be a Eurocurrency Loan or a Base Rate Loan. 
 “Statutory Reserve
Rate”: a fraction (expressed as a decimal), the numerator of which is the number one and the denominator of which is the number one minus the aggregate of the maximum reserve percentages (including any marginal, special, emergency or
supplemental reserves) expressed as a decimal established by the Board and any other banking authority, domestic or foreign, to which the Administrative Agent or any Lender (including any branch, Affiliate or other fronting office making or holding
a Loan) is subject for Eurocurrency Liabilities (as defined in Regulation D of the Board). Eurocurrency Loans shall be deemed to constitute Eurocurrency Liabilities (as defined in Regulation D of the Board) and to be subject to such reserve
requirements without benefit of or credit for proration, exemptions or offsets that may be available from time to time to any Lender under such Regulation D. The Statutory Reserve Rate shall be adjusted automatically on and as of the effective
date of any change in any reserve percentage. 
 “Sterling”: lawful money of the United Kingdom. 

“Subsidiary”: as to any Person, a corporation, partnership, limited liability company or other entity of which shares of
stock or other ownership interests having ordinary voting power (other than stock or such other ownership interests having such power only by reason of the happening of a contingency) to elect a majority of the board of directors or other managers
of such corporation, partnership or other entity are at the time owned, or the management of which is otherwise controlled, directly or indirectly through one or more intermediaries, or both, by such Person. Unless otherwise qualified, all
references to a “Subsidiary” or to “Subsidiaries” in this Agreement shall refer to a Subsidiary or Subsidiaries of the Company. 

  
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 “Subsidiary Guarantor”: each Domestic Subsidiary of the Company that is a
party to the Guarantee and Collateral Agreement from time to time; provided, for the avoidance of doubt, that “Subsidiary Guarantor” shall not include any Excluded Subsidiary. 

“Supermajority Lenders”: at any time, the holders of more than 66.66% of the sum of (a) the aggregate unpaid principal
amount of the Term Loans then outstanding and (b) the Total Revolving Credit Commitments then in effect or, if the Revolving Credit Commitments have been terminated, the Total Revolving Extensions of Credit then outstanding. The
outstanding Term Loans and Revolving Credit Commitments of any Defaulting Lender shall be disregarded in determining the Supermajority Lenders at any time. 

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

“Syndication Agents”: Goldman Sachs Bank USA, Citibank, N.A., and HSBC Bank USA, N.A., in their respective capacities as
Syndication Agents of the Facilities hereunder. 
 “Tax”: as defined in Section 2.20(a). 

“Term Borrowing”: a borrowing consisting of simultaneous Term Loans by each of the Term Loan Lenders. 

“Term Loan”: an Initial Term Loan, an Incremental Term Loan, an Extended Term Loan and/or an Other Term Loan, as
applicable. 
 “Term Loan Borrowing Request”: a request made pursuant to Section 2.02 in the form of Exhibit A-6
hereto. 
 “Term Loan Commitment”: the Initial Term Loan Commitment, any Incremental Term Loan Commitment pursuant to
an Incremental Amendment under Section 2.24, any Extended Term Commitment pursuant to a Loan Extension Amendment under Section 2.29 and/or Other Term Commitment, if any, issued after the Closing Date pursuant to a Refinancing Amendment entered into
pursuant to Section 2.30, as the context may require. 
 “Term Loan Facility”: the facility governing the Initial Term
Loans, each Incremental Facility comprising a Class of Incremental Term Loans and Incremental Term Loan Commitments, each facility governing a Class of Extended Term Loans and Extended Term Commitments and/or each facility governing a Class of Other
Term Loans and Other Term Commitments, as the context requires. 
 “Term Loan Lender”: each Lender that has a Term
Loan Commitment or is a holder of a Term Loan and shall include any Additional Lender, as applicable. 
 “Term Loan Maturity
Date”: November 2, 2023; provided that if such day is not a Business Day, the Term Loan Maturity Date shall be the immediately preceding Business Day. 

  
 55 

 “Term Loan Percentage”: as to any Term Loan Lender at any time, the
percentage which such Lender’s Term Loan Commitment then constitutes of the aggregate Term Loan Commitments (or, at any time after the Closing Date, the percentage which the aggregate principal amount of such Lender’s Term Loan then
outstanding constitutes of the aggregate principal amount of the Term Loans then outstanding). 
 “Term Note”: as
defined in Section 2.08(e). 
 “Term Standstill Period”: as defined in Article 8(c). 

“Termination Date”: the Term Loan Maturity Date or Revolving Credit Termination Date, as applicable. 

“Termination Letter”: as defined in Section 2.25. 

“Test Period”: for any determination under this Agreement, the most recent period of four consecutive fiscal quarters of
the Company ended on or prior to such date of determination (taken as one accounting period) for which financial statements have been (or are required to be) delivered under Section 6.01(a) or Section 6.01(b); provided, that with respect to
any determination made prior to the date on which financial statements for the fiscal quarter ending September 30, 2016 are delivered pursuant to Section 6.01(b), “Test Period” shall mean the four consecutive fiscal quarters of the
Company ended June 30, 2016. 
 “Threshold Amount”: $25,000,000. 

“Total Debt”: at any time, the aggregate outstanding principal amount of all Indebtedness of the Company and its
Restricted Subsidiaries at such time (other than Indebtedness described in clause (f) (with respect to such clause (f), to the extent arising in connection with an obligation described in clauses (i) or (j) of such definition), (g), (i) and (j)
(provided that Indebtedness described in clause (j) of such definition shall be included in Total Debt to the extent of drawn and unreimbursed letters of credit) of the definition of the term “Indebtedness”) determined on a
consolidated basis (without duplication) in accordance with GAAP, provided that for purposes of calculating the Senior Secured Net Leverage Ratio and the Total Net Leverage Ratio for the Financial Covenants and for incurrence purposes under
Article 7, Indebtedness described in clause (i) shall be included in the calculation of Total Debt to the extent that at the relevant date of determination, an Early Termination Date (as defined in the applicable Hedge Agreement) resulting from
(x) any event of default under such Hedge Agreement as to which the Company or any Restricted Subsidiary is the Defaulting Party (as defined in such Hedge Agreement) or (y) any Termination Event (as so defined) under such Hedge Agreement as to which
the Company or any Restricted Subsidiary is an Affected Party (as so defined), has occurred and is continuing, and in either event as a consequence thereof, a positive amount is due and owing by the Company or such Restricted Subsidiary to the
relevant Qualified Counterparty under such Hedge Agreement. 
 “Total Leverage Ratio”: as of any date of
determination, the ratio of (a) Total Debt on such date, to (b) Consolidated EBITDA for the most recently ended four consecutive fiscal quarter period for which financial statements have been delivered pursuant to Section 6.01(a) or Section 6.01(b).

  
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 “Total Net Debt: as of any date of determination, (a) Total Debt minus
(b) the lesser of (i) the aggregate amount of cash and Cash Equivalents of the Company and its Restricted Subsidiaries (other than any cash and Cash Equivalents that would appear as “restricted” in favor of any Person other than the
Collateral Agent (in its capacity as such) on a consolidated balance sheet of the Company prepared in accordance with GAAP) as of such date and (ii) $75,000,000. 

“Total Net Leverage Ratio”: with respect to any date of determination, (a) Total Net Debt on such date, to (b)
Consolidated EBITDA for the most recently ended four consecutive fiscal quarter period for which financial statements have been delivered pursuant to Section 6.01(a) or Section 6.01(b). 

“Total Net Leverage Ratio Covenant”: the total net leverage ratio covenant set forth in Section 7.01(a). 

“Total Revolving Credit Commitments”: at any time, the aggregate amount of the Revolving Credit Commitments then in
effect. 
 “Total Revolving Extensions of Credit”: at any time, the aggregate amount of the Revolving Extensions of
Credit of the Revolving Credit Lenders outstanding at such time. 
 “Transferee”: as defined in Section 10.15. 

“Type”: when used in respect of any Loan or Borrowing, shall refer to the rate by reference to which interest on such
Loan or on the Loans comprising such Borrowing is determined and the currency in which such Loan or the Loans comprising such Borrowings are denominated. For purposes hereof, “rate” shall include the LIBO Rate, the EURIBO Rate, the
Base Rate and the Fixed Rate, and “currency” shall include Dollars and any Alternative Currency permitted hereunder. 

“Uniform Customs”: as defined in Section 10.11. 

“Unrestricted Subsidiary”: (i) any Subsidiary of the Company designated by the board of directors (or similar governing
body) of the Company as an Unrestricted Subsidiary pursuant to Section 6.11 subsequent to the date hereof and (ii) each Special Purpose Securitization Subsidiary (unless the Company shall elect, by delivering a certificate to the Administrative
Agent signed by a Responsible Officer, to designate the Special Purpose Securitization Subsidiary as a Restricted Subsidiary). The Company may designate any Subsidiary of the Company other than an Approved Borrower (including any existing
Subsidiary and any newly acquired or newly formed Subsidiary) to be an Unrestricted Subsidiary unless such Subsidiary or any of its Subsidiaries owns any Capital Stock or Indebtedness of, or owns or holds any Lien on any property of, the Company or
any Subsidiary of Company (other than any Subsidiary of the Subsidiary to be so designated); provided that each of (A) the Subsidiary to be so designated and (B) its Subsidiaries has not at the time of designation, and does not thereafter,
create, incur, issue, assume, guarantee or otherwise become directly or indirectly liable with respect to any Indebtedness pursuant to which the lender has recourse to any of the assets of the Company or any Restricted Subsidiary. 

  
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 “USA PATRIOT Act”: The Uniting and Strengthening America by Providing
Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001 (Title III of Pub. L. No. 107-56 (signed into law October 26, 2001)). 

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

Section 1.02.    Other Definitional Provisions. (a) Unless otherwise specified therein, all terms defined in
this Agreement shall have the defined meanings when used in the other Loan Documents or any certificate or other document made or delivered pursuant hereto or thereto. 

(a)    As used herein and in the other Loan Documents, and any certificate or other document made or delivered pursuant
hereto or thereto, (i) accounting terms relating to the Company and its Restricted Subsidiaries not defined in Section 1.01 and accounting terms partly defined in Section 1.01, to the extent not defined, shall have the respective meanings given to
them under GAAP and (ii) references to fiscal year or fiscal quarter are, unless otherwise indicated, references to the fiscal year or fiscal quarter of the Company (the Company’s fiscal year ends December 31). 

(b)    The words “hereof”, “herein” and “hereunder” and words of similar import when used in
this Agreement shall refer to this Agreement as a whole and not to any particular provision of this Agreement, and Section, Schedule and Exhibit references are to this Agreement unless otherwise specified. 

(c)    The meanings given to terms defined herein shall be equally applicable to both the singular and plural forms of
such terms. 
 (d)    (i) The words “include”, “includes” and “including” shall be deemed
to be followed by the phrase “without limitation”, (ii) the word “incur” shall be construed to mean incur, create, issue, assume or become liable in respect of (and the words “incurred” and “incurrence” shall
have correlative meanings), (iii) 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, Capital Stock,
securities, revenues, accounts, real property, leasehold interests and contract rights, (iv) the term “consolidated” with respect to any Person refers to such Person consolidated with its Restricted Subsidiaries, and excludes from such
consolidation any Unrestricted Subsidiary as if such Unrestricted Subsidiary were not an Affiliate of such Person, (v) references to organizational documents, agreements or other Contractual Obligations (including any of the Loan Documents) shall,
unless otherwise specified, be deemed to refer to such agreements or Contractual Obligations as amended, supplemented, restated, amended and restated or otherwise modified from time to time and (vi) references to any law, statute, guideline, code,
rule, regulation or any legal or administrative interpretation thereof shall include all statutory and regulatory provisions consolidating, amending, replacing, supplementing or interpreting such law, statute, guideline, code, rule, regulation or
any legal or administrative interpretation thereof. 

  
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 (e)    When the payment of any obligation or the performance of any covenant,
duty or obligation is stated to be due or performance required on a day which is not a Business Day, the date of such payment (unless otherwise set forth herein) or performance shall extend to the immediately succeeding Business Day. 

(f)    All calculations of financial ratios set forth in Section 7.01 shall be calculated to the same number of decimal
places as the relevant ratios are expressed in and shall be rounded upward if the number in the decimal place immediately following the last calculated decimal place is five or greater. For example, if the relevant ratio is to be calculated to
the hundredth decimal place and the calculation of the ratio is 5.126, the ratio will be rounded up to 5.13. 
 Section
1.03.    Accounting Changes. If any “Accounting Change” shall occur and such change results in a change in the method of calculation of financial covenants, standards or terms in this Agreement, then the
Company and the Administrative Agent agree to enter into negotiations in order to amend such provisions of this Agreement so as to equitably reflect such Accounting Change with the desired result that the criteria for evaluating the Company’s
financial condition shall be the same after such Accounting Change as if such Accounting Change had not been made. Until such time as such an amendment shall have been executed and delivered by the Company, the Administrative Agent and the
Required Lenders, all financial covenants, standards and terms in this Agreement shall continue to be calculated or construed as if such Accounting Change had not occurred. “Accounting Change” refers to any change in generally
accepted accounting principles set forth in the promulgation of any rule, regulation, pronouncement or opinion by the Financial Accounting Standards Board of the American Institute of Certified Public Accountants or, if applicable, the SEC. 

Section 1.04.    Redenomination Of Certain Alternative Currencies. 

(a)    Each obligation of any party to this Agreement to make a payment denominated in the national currency unit of any
member state of the European Union that adopts the Euro as its lawful currency after the date hereof shall be redenominated into Euro at the time of such adoption (in accordance with the EMU Legislation). If, in relation to the currency of any
such member state, the basis of accrual of interest expressed in this Agreement in respect of that currency shall be inconsistent with any convention or practice in the London interbank market for the basis of accrual of interest in respect of the
Euro, such expressed basis shall be replaced by such convention or practice with effect from the date on which such member state adopts the Euro as its lawful currency; provided that if any Borrowing in the currency of such member state is
outstanding immediately prior to such date, such replacement shall take effect, with respect to such Borrowing, at the end of the then current Interest Period. 

(b)    Each provision of this Agreement shall be subject to such reasonable changes of construction as the Administrative
Agent in consultation with the Company may from time to time specify to be appropriate to reflect the adoption of the Euro by any member state of the European Union and any relevant market conventions or practices relating to the Euro. 

  
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 Section 1.05.    Limited Condition Acquisitions. 

In connection with a Limited Condition Transaction: 

(a)    at the Company’s option, in the case of the incurrence of any indebtedness or liens or the making of any
investments, restricted payments, restricted debt payment, asset sales or fundamental changes or the designation of any restricted subsidiaries or Unrestricted Subsidiaries, the relevant ratios and baskets shall be determined, and any default or
event of default blocker shall be tested, as of the date the definitive acquisition agreements for such Limited Condition Transaction is entered into and calculated as if the acquisition and other pro forma events in connection therewith were
consummated on such date; provided that if the Company has made such an election, in connection with the calculation of any ratio or basket with respect to the incurrence of any debt or liens, or the making of any investments, restricted
payments, restricted debt payments, asset sales, fundamental changes or the designation of a Restricted Subsidiary or Unrestricted Subsidiary used in connection with such Limited Condition Transaction on or following such date and prior to the
earlier of the date on which such acquisition is consummated or the definitive agreement for such acquisition is terminated, any such ratio shall be calculated on a pro forma basis assuming such acquisition and other pro forma events in connection
therewith (including any incurrence of indebtedness) have been consummated; and 
 (b)    calculations of Consolidated
Net Income (and any other financial defined term derived therefrom) shall not include any consolidated net income of or attributable to the target company or assets associated with such Limited Condition Transaction for usages other than in
connection with the applicable transaction pertaining to such Limited Condition Transaction unless and until the closing of such Limited Condition Transaction shall have actually occurred. 

Section 1.06.    Letter of Credit Amounts. Unless otherwise specified herein, the amount of a Letter of Credit
at any time shall be deemed to be the stated amount of such Letter of Credit in effect at such time; provided, however, that with respect to any Letter of Credit that, by its terms or the terms of any Application (or related document)
related thereto, provides for one or more automatic increases in the stated amount thereof, the amount of such Letter of Credit shall be deemed to be the maximum stated amount of such Letter of Credit after giving effect to all such increases,
whether or not such maximum stated amount is in effect at such time. 
 Section 1.07.    Exchange Rates; Currency
Equivalents. (i) Notwithstanding anything to the contrary contained herein, for purposes of any determination under Article 6 and Article 7 and the calculation of compliance with any financial ratio for purposes of taking any
action hereunder or other transaction, event or circumstance, or any other determination under any other provision of this Agreement not covered elsewhere in this Section 1.07 (any of the foregoing, a “specified transaction”),
in a currency other than Dollars, (i) the equivalent amount in Dollars of a specified transaction in a currency other than Dollars shall be calculated based on the rate of exchange quoted by a publicly available service for displaying exchange rates
customarily referenced by the Administrative Agent for such foreign currency, as in effect at 11:00 a.m. (New York time) on the date of such specified transaction (which, (x) in the case of any Restricted Payment, shall be deemed to be the
date of the declaration thereof and, (y) in the case of the incurrence of Indebtedness or creation of Permitted Securitization Financings, shall be 

  
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deemed to be on the date first committed); provided, that if any Indebtedness is incurred (and, if applicable, associated Lien granted) to refinance or replace other Indebtedness
denominated in a currency other than Dollars, and the relevant refinancing or replacement would cause the applicable Dollar-denominated restriction to be exceeded if calculated at the relevant currency exchange rate in effect on the date of such
refinancing or replacement, such Dollar-denominated restriction shall be deemed not to have been exceeded so long as the principal amount of such refinancing or replacement Indebtedness (and, if applicable, associated Lien granted) does not exceed
an amount sufficient to repay the principal amount of such Indebtedness being refinanced or replaced, except by an amount equal to (x) unpaid accrued interest and premiums (including tender premiums) thereon plus other reasonable and
customary fees and expenses (including upfront fees and original issue discount) incurred in connection with such refinancing or replacement, (y) any existing commitments unutilized thereunder and (z) additional amounts permitted to be incurred
under Section 7.02 and (ii) for the avoidance of doubt, no Default or Event of Default shall be deemed to have occurred solely as a result of a change in the rate of currency exchange occurring after the time of any specified transaction
so long as such specified transaction was permitted at the time incurred, made, acquired, committed, entered or declared as set forth in clause (i) of this Section. 

ARTICLE 2 
 AMOUNT
AND TERMS OF COMMITMENTS 
 Section 2.01.    Term Loan
Commitments. Subject to the terms and conditions hereof, the Term Loan Lenders severally and not jointly, agree to make term loans in Dollars (each, an “Initial Term Loan”) to the Company on the Closing Date in an amount
for each Term Loan Lender not to exceed the amount of the Initial Term Loan Commitment of such Lender. Term Loans may from time to time be Eurocurrency Loans or Base Rate Loans, as determined by the Company and notified to the Administrative
Agent in accordance with Sections 2.02 and 2.13. Term Loans prepaid or repaid may not be reborrowed. 
 Section
2.02.    Procedure for Term Loan Borrowing. The Company shall deliver to the Administrative Agent a Term Loan Borrowing Request (which Borrowing Request must be received by the Administrative Agent prior to 12:00
p.m., New York City time, one Business Day prior to the anticipated Closing Date (which shall be a Business Day)) requesting that the Term Loan Lenders make the Term Loans on the Closing Date. Upon receipt of such Borrowing Request the
Administrative Agent shall promptly notify each Term Loan Lender thereof. Not later than 11:00 a.m., New York City time, on the Closing Date each Term Loan Lender shall make available to the Administrative Agent at the Funding Office an amount
in immediately available funds equal to the Term Loan or Term Loans to be made by such Lender. The aggregate of the amounts made available to the Administrative Agent by the Term Loan Lenders will promptly thereafter be made available to the
Company by the Administrative Agent in like funds as received by the Administrative Agent. 
 Section
2.03.    Repayment of Term Loans. The Company shall pay to the Administrative Agent, for the account of the Term Loan Lenders, on each Payment Date commencing with the Payment Date occurring on March 31, 2017, a
principal amount of Term Loans equal to 0.25% of the aggregate principal amount of Term Loans made on the Closing Date, as such amount may be reduced pursuant to Sections 2.11(b) and 2.12(h). To the extent not previously paid, all Term

  
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Loans shall be due and payable on the Term Loan Maturity Date. All repayments made pursuant to this Section 2.03 shall be accompanied by accrued interest on the amount repaid and shall be
subject to Section 2.21. 
 Section 2.04.    Revolving Credit Commitments. (a) Subject to the terms and
conditions hereof, the Revolving Credit Lenders severally agree to make Standby Loans to the Borrowers from time to time during the Revolving Credit Commitment Period, in Dollars or one or more Alternative Currencies (as specified in the Borrowing
Requests with respect thereto), in an aggregate principal amount at any one time outstanding for each Revolving Credit Lender which will not result in such Revolving Credit Lender’s Committed Credit Exposure, when added to such Lender’s
Revolving Credit Percentage of the L/C Obligations then outstanding, exceeding the amount of such Revolving Credit Lender’s Revolving Credit Commitment, subject, however, to the conditions that (i) at no time shall (A) the sum of (I) the
aggregate Committed Credit Exposure of all the Revolving Credit Lenders, plus (II) the outstanding aggregate principal amount or Assigned Dollar Value of all Competitive Loans made by all Revolving Credit Lenders, plus
(III) the L/C Obligations of all Revolving Credit Lenders exceed (B) the Total Revolving Credit Commitments and (ii) at all times the outstanding aggregate principal amount of all Standby Loans made by each Lender shall equal such Lender’s
Revolving Credit Percentage of the outstanding aggregate principal amount of all Standby Loans made pursuant to Section 2.07. During the Revolving Credit Commitment Period any Borrower may use the Revolving Credit Commitments by borrowing,
prepaying the Standby Loans in whole or in part, and reborrowing, all in accordance with the terms and conditions hereof. The Standby Loans may from time to time be Eurocurrency Loans or Base Rate Loans, as determined by the Borrower and
notified to the Administrative Agent in accordance with Section 2.05 and Section 2.13. Notwithstanding any provision to the contrary herein, the sum of (x) the aggregate Revolving Credit Loans made to Approved Borrowers that are Foreign
Subsidiaries and (y) the aggregate L/C Obligations of all Revolving Credit Lenders in respect of Letters of Credit issued for the account of Approved Borrowers that are Foreign Subsidiaries shall not exceed $25,000,000 in the aggregate at any time
outstanding. 
 (b)    The Borrowers shall repay all outstanding Revolving Credit Loans on the Revolving Credit
Termination Date. 
 Section 2.05.    Revolving Credit Loans. (a) Each Standby Loan shall be made as part of
a Borrowing consisting of Revolving Credit Loans made by the Revolving Credit Lenders ratably in accordance with their applicable Revolving Credit Commitments; provided, however, that the failure of any Revolving Credit Lender to make
any Standby Loan shall not in itself relieve any other Revolving Credit Lender of its obligation to lend hereunder (it being understood, however, that no Revolving Credit Lender shall be responsible for the failure of any other Revolving Credit
Lender to make any Standby Loan required to be made by such other Revolving Credit Lender). Each Competitive Loan shall be made in accordance with the procedures set forth in Section 2.06. The Competitive Loans and Standby Loans comprising
any Borrowing shall be in (i) an aggregate principal amount which is not less than the Borrowing Minimum and an integral multiple of the Borrowing Multiple or (ii) an aggregate principal amount (when added to the L/C Obligations then outstanding)
equal to the remaining balance of the available applicable Revolving Credit Commitments. 

  
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 (b)    Each Competitive Borrowing shall be comprised entirely of Eurocurrency
Competitive Loans or Fixed Rate Loans, and each Standby Borrowing shall be comprised entirely of Eurocurrency Standby Loans or Base Rate Loans, as the Borrowers may request pursuant to Section 2.06 or 2.07, as applicable. Each Revolving Credit
Lender may at its option make any Revolving Credit Loan by causing any domestic or foreign branch or Affiliate of such Revolving Credit Lender to make such Revolving Credit Loan; provided that any exercise of such option shall not affect the
obligation of the applicable Borrower to repay such Revolving Credit Loan in accordance with the terms of this Agreement. Borrowings of more than one Type may be outstanding at the same time; provided, however, that none of the
Borrowers shall be entitled to request any Borrowing which, if made, would result in an aggregate of more than ten separate Standby Loans of any Revolving Credit Lender being outstanding hereunder at any one time. For purposes of the foregoing,
Borrowings having different Interest Periods or denominated in different currencies, regardless of whether they commence on the same date, shall be considered separate Borrowings. 

(c)    Each Revolving Credit Lender shall make each Revolving Credit Loan to be made by it hereunder on the proposed date
thereof by wire transfer to such account as the Administrative Agent may designate in federal funds (in the case of any Loan denominated in Dollars) or such other immediately available funds as may then be customary for the settlement of
international transactions in the relevant currency not later than 11:00 a.m., New York City time, in the case of fundings to an account in New York City, or 11:00 a.m., local time, in the case of fundings to an account in another jurisdiction, and
the Administrative Agent shall by 12:00 (noon), New York City time, in the case of fundings to an account in New York City, or 12:00 (noon), local time, in the case of fundings to an account in another jurisdiction, credit the amounts so received to
an account designated by the applicable Borrower in the applicable Borrowing Request, which account must be in the country of the currency of the Loan (it being understood that the funding may be for the credit of an account outside such country) or
in a country that is a member of the European Union, in the case of Borrowings denominated in Euros, or, if a Borrowing shall not occur on such date because any condition precedent herein specified shall not have been met, return the amounts so
received to the respective Revolving Credit Lenders. Competitive Loans shall be made by the Revolving Credit Lender or Revolving Credit Lenders whose Competitive Bids therefor are accepted pursuant to Section 2.06 in the amounts so accepted and
Standby Loans shall be made by the Revolving Credit Lenders pro rata in accordance with Section 2.18. Unless the Administrative Agent shall have received notice from a Revolving Credit Lender prior to the time of any Borrowing that such
Revolving Credit Lender will not make available to the Administrative Agent such Revolving Credit Lender’s portion of such Borrowing, the Administrative Agent may assume that such Revolving Credit Lender has made such portion available to the
Administrative Agent on the date of such Borrowing in accordance with this paragraph (c) and the Administrative Agent may, in reliance upon such assumption, make available to the applicable Borrower on such date a corresponding amount in the
required currency. If the Administrative Agent shall have so made funds available then to the extent that such Revolving Credit Lender shall not have made such portion available to the Administrative Agent, such Revolving Credit Lender and the
applicable Borrower severally agree to repay to the Administrative Agent forthwith on demand such corresponding amount together with interest thereon in such currency, for each day from the date such amount is made available to the applicable
Borrower until the date such amount is repaid to the Administrative Agent at (i) in the case of the Borrower, the interest rate applicable at the time to 

  
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the Revolving Credit Loans comprising such Borrowing and (ii) in the case of such Revolving Credit Lender, a rate determined by the Administrative Agent to represent its cost of overnight or
short-term funds in the relevant currency (which determination shall be conclusive absent manifest error). If such Revolving Credit Lender shall repay to the Administrative Agent such corresponding amount, such amount shall constitute such
Revolving Credit Lender’s Revolving Credit Loan as part of such Borrowing for purposes of this Agreement. 

(d)    Notwithstanding any other provision of this Agreement, none of the Borrowers shall be entitled to request, or to
elect to convert or continue, any Borrowing of Revolving Credit Loans if the Interest Period requested with respect thereto would end after the Revolving Credit Termination Date. 

Section 2.06.    Competitive Bid Procedure. 

(a)    In order to request Competitive Bids, a Borrower shall hand deliver, telecopy or send in *pdf format via electronic
mail to the Administrative Agent a duly completed Competitive Bid Request in the form of Exhibit A-l hereto, to be received by the Administrative Agent (i) in the case of a Eurocurrency Competitive Borrowing, not later than 11:00 a.m., New York City
time, four Business Days before a proposed Competitive Borrowing and (ii) in the case of a Fixed Rate Borrowing, not later than 11:00 a.m., New York City time, one Business Day before a proposed Competitive Borrowing. No Base Rate Loan shall be
requested in, or made pursuant to, a Competitive Bid Request. A Competitive Bid Request that does not conform substantially to the format of Exhibit A-l hereto may be rejected in the Administrative Agent’s sole discretion, and the
Administrative Agent shall promptly notify the applicable Borrower of such rejection by telecopier. Such request shall in each case refer to this Agreement and specify (A) whether the Borrowing then being requested is to be a Eurocurrency
Borrowing or a Fixed Rate Borrowing, (B) the date of such Borrowing (which shall be a Business Day), (C) the aggregate principal amount of such Borrowing, (D) the currency of such Borrowing and (E) the Interest Period with respect thereto (which may
not end after the Revolving Credit Termination Date). If no election as to the currency of Borrowing is specified in any Competitive Bid Request, then the applicable Borrower shall be deemed to have requested Borrowings in
Dollars. Promptly after its receipt of a Competitive Bid Request that is not rejected as aforesaid, the Administrative Agent shall invite by telecopier (in the form set forth in Exhibit A-2 hereto) the Revolving Credit Lenders to bid, on the
terms and conditions of this Agreement, to make Competitive Loans pursuant to the Competitive Bid Request. 

(b)    Each Revolving Credit Lender may, in its sole discretion, make one or more Competitive Bids to a Borrower
responsive to a Competitive Bid Request. Each Competitive Bid by a Revolving Credit Lender must be received by the Administrative Agent via telecopier, in the form of Exhibit A-3 hereto, (i) in the case of a Eurocurrency Competitive Borrowing
not later than 11:00 a.m., New York City time, three Business Days before a proposed Competitive Borrowing and (ii) in the case of a Fixed Rate Borrowing, not later than 11:00 a.m., New York City time, on the day of a proposed Competitive
Borrowing. Multiple bids will be accepted by the Administrative Agent. Competitive Bids that do not conform substantially to the format of Exhibit A-3 hereto may be rejected by the Administrative Agent after conferring with, and upon the
instruction of, the applicable Borrower, and the Administrative Agent shall notify the Revolving Credit Lender making such nonconforming bid of such rejection as soon as 

  
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practicable. Each Competitive Bid shall refer to this Agreement and specify (A) the principal amount (which (x) shall be in a minimum principal amount of the Borrowing Minimum and in an
integral multiple of the Borrowing Multiple, (y) shall be expressed in Dollars or, in the case of an Alternative Currency Borrowing, in both the Alternative Currency and the Assigned Dollar Value thereof and (z) may equal the entire principal amount
of the Competitive Borrowing requested by the applicable Borrower) of the Competitive Loan or Loans that the Revolving Credit Lender is willing to make to the applicable Borrower, (B) the Competitive Bid Rate or Rates at which the Revolving
Credit Lender is prepared to make the Competitive Loan or Loans and (C) the Interest Period and the last day thereof. If any Revolving Credit Lender shall elect not to make a Competitive Bid, such Revolving Credit Lender shall so notify
the Administrative Agent by telecopier (I) in the case of Eurocurrency Competitive Loans, not later than 11:00 a.m., New York City time, three Business Days before a proposed Competitive Borrowing, and (II) in the case of Fixed Rate
Loans, not later than 11:00 a.m., New York City time, on the day of a proposed Competitive Borrowing; provided, however, that failure by any Revolving Credit Lender to give such notice shall not cause such Revolving Credit Lender to be
obligated to make any Competitive Loan as part of such Competitive Borrowing. A Competitive Bid submitted by a Revolving Credit Lender pursuant to this paragraph (b) shall be irrevocable. 

(c)    The Administrative Agent shall promptly notify the applicable Borrower by telecopier of all the Competitive Bids
made, the Competitive Bid Rate and the principal amount of each Competitive Loan in respect of which a Competitive Bid was made and the identity of the Revolving Credit Lender that made each bid. The Administrative Agent shall send a copy of
all Competitive Bids to the applicable Borrower for its records as soon as practicable after completion of the bidding process set forth in this Section 2.06. 

(d)    The applicable Borrower may in its sole and absolute discretion, subject only to the provisions of this paragraph
(d), accept or reject any Competitive Bid referred to in paragraph (c) above. The Borrower shall notify the Administrative Agent by telephone, confirmed by telecopier or in *pdf format sent via electronic mail in the form of a Competitive Bid
Accept/Reject Letter, whether and to what extent it has decided to accept or reject any of or all the bids referred to in paragraph (c) above, (x) in the case of a Eurocurrency Competitive Borrowing, not later than 11:30 a.m., New York City time,
three Business Days before a proposed Competitive Borrowing, and (y) in the case of a Fixed Rate Borrowing, not later than 11:30 a.m., New York City time, on the day of a proposed Competitive Borrowing; provided, however, that (i) the
failure by the applicable Borrower to give such notice shall be deemed to be a rejection of all the bids referred to in paragraph (c) above, (ii) such Borrower shall not accept a bid made at a particular Competitive Bid Rate if such Borrower has
decided to reject a bid made at a lower Competitive Bid Rate, (iii) the aggregate amount of the Competitive Bids accepted by such Borrower shall not exceed the principal amount specified in the Competitive Bid Request, (iv) if such Borrower shall
accept a bid or bids made at a particular Competitive Bid Rate but the amount of such bid or bids shall cause the total amount of bids to be accepted by such Borrower to exceed the amount specified in the Competitive Bid Request, then such Borrower
shall accept a portion of such bid or bids in an amount equal to the amount specified in the Competitive Bid Request less the amount of all other Competitive Bids accepted with respect to such Competitive Bid Request, which acceptance, in the
case of multiple bids at such Competitive Bid Rate, shall be made pro rata in accordance with the amount of each such bid at such Competitive Bid Rate, and (v) except pursuant to clause (iv) above, no bid shall be accepted for a Competitive Loan

  
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unless such Competitive Loan is in (x) a minimum principal amount of the Borrowing Minimum and an integral multiple of the Borrowing Multiple or (y) an aggregate principal amount equal to the
remaining balance of the available applicable Revolving Credit Commitments; provided further, however, that if a Competitive Loan must be in an amount less than the Borrowing Minimum because of the provisions of clause (iv) above, such
Competitive Loan may be for a minimum of 1,000,000 units (or, in the case of Sterling, 500,000 units) of the applicable currency or any integral multiple thereof, and in calculating the pro rata allocation of acceptances of portions of multiple bids
at a particular Competitive Bid Rate pursuant to clause (iv) the amounts shall be rounded to integral multiples of 1,000,000 units (or, in the case of Sterling, 500,000 units) of the applicable currency in a manner which shall be in the discretion
of the applicable Borrower. A notice given by the applicable Borrower pursuant to this paragraph (d) shall be irrevocable. 

(e)    The Administrative Agent shall promptly notify each bidding Revolving Credit Lender whether or not its Competitive
Bid has been accepted (and if so, in what amount and at what Competitive Bid Rate) by telecopy sent by the Administrative Agent, and each successful bidder will thereupon become bound, subject to the other applicable conditions hereof, to make the
Competitive Loan in respect of which its bid has been accepted. 
 (f)    A Competitive Bid Request shall not be made
within five Business Days after the date of any previous Competitive Bid Request. 
 (g)    If the Administrative Agent
shall elect to submit a Competitive Bid in its capacity as a Revolving Credit Lender, it shall submit such bid directly to the applicable Borrower one quarter of an hour earlier than the latest time at which the other Lenders are required to submit
their bids to the Administrative Agent pursuant to paragraph (b) above. 
 (h)    All notices required by this Section
2.06 shall be given in accordance with Section 10.02. 
 Section 2.07.    Standby Borrowing Procedure. 

In order to request a Standby Borrowing, a Borrower shall hand deliver, telecopy or send in *pdf format via electronic mail to the
Administrative Agent a duly completed Standby Borrowing Request in the form of Exhibit A-5 hereto, to be received by the Administrative Agent (a) in the case of a Eurocurrency Standby Borrowing, not later than 11:00 a.m., New York City time, three
Business Days before a proposed borrowing (or, in the case of a Standby Borrowing to occur on the Closing Date, such later date as may be agreed by the Administrative Agent in its sole discretion) and (b) in the case of an Base Rate Borrowing, not
later than 11:00 a.m., New York City time, on the date of the proposed borrowing. No Fixed Rate Loan shall be requested or made pursuant to a Standby Borrowing Request. Such notice shall be irrevocable and shall in each case specify (i)
whether the Borrowing then being requested is to be a Eurocurrency Borrowing or a Base Rate Borrowing; (ii) the date of such Borrowing (which shall be a Business Day), (iii) the aggregate principal amount of the Borrowing (which shall be in a
minimum principal amount of the Borrowing Minimum and in an integral multiple of the Borrowing Multiple), (iv) the currency of such Borrowing (which, in the case of a Base Rate Borrowing, shall be Dollars) and (v) if such Borrowing is to be a
Eurocurrency Borrowing, the 

  
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Interest Period with respect thereto. If no election as to the currency of Borrowing is specified in any Standby Borrowing Request, then the applicable Borrower shall be deemed to have
requested Borrowings in Dollars. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a Base Rate Borrowing if denominated in Dollars or a Eurocurrency Borrowing if denominated in an Alternative
Currency. If no Interest Period with respect to any Eurocurrency Borrowing is specified, then the applicable Borrower shall be deemed to have selected an Interest Period of one month’s duration. Notwithstanding the foregoing, if the
Dollar Equivalent of a Standby Borrowing would exceed the remaining available Total Revolving Credit Commitments, then such Standby Borrowing shall be reduced to the Alternative Currency Equivalent of available Total Revolving Credit
Commitments. The Administrative Agent shall promptly advise the Revolving Credit Lenders of any notice given pursuant to this Section 2.07 (and the contents thereof), of each Lender’s portion of the requested Borrowing and, in the case of
an Alternative Currency Borrowing, of the Dollar Equivalent of the Alternative Currency amount specified in the applicable Standby Borrowing Request and the Spot Exchange Rate utilized to determine such Dollar Equivalent. 

Section 2.08.    Repayment of Loans; Evidence of Debt. (a) (i) The Borrowers hereby unconditionally, and
jointly and severally, promise to pay to the Administrative Agent for the account of the appropriate Revolving Credit Lender or Term Loan Lender, as the case may be, (ii) the then unpaid principal amount of each Revolving Credit Loan of such
Revolving Credit Lender on the Revolving Credit Termination Date (or on such earlier date on which the Revolving Credit Loans become due and payable pursuant to Article 8), provided that each Revolving Credit Loan that is a Competitive Loan
shall be repaid on the last day of the Interest Period applicable to such Competitive Loan and (iii) the principal amount of each Term Loan of such Term Loan Lender made to such Borrower in installments according to the amortization schedule
set forth in Section 2.03 (or on such earlier date on which the Term Loans become due and payable pursuant to Article 8). The Borrowers hereby further agree to pay interest on the unpaid principal amount of the Loans from time to time
outstanding from the Closing Date until payment in full thereof at the rates per annum, and on the dates, set forth in Section 2.15. 

(b)    Each Lender shall maintain in accordance with its usual practice an account or accounts evidencing indebtedness of
each Borrower to such Lender resulting from each Loan of such Lender made to such Borrower from time to time, including the amounts of principal and interest payable and paid to such Lender from time to time under this Agreement. 

(c)    The Administrative Agent shall maintain accounts in which it will record (i) the amount of each Loan made
hereunder and any Note evidencing such Loan, the Type of such Loan and each Interest Period applicable thereto, (ii) the amount of any principal or interest due and payable or to become due and payable from the Borrowers to each Lender hereunder and
(iii) both the amount of any sum received by the Administrative Agent hereunder from any Borrower and each Lender’s share thereof. 

(d)    The entries made in the accounts maintained pursuant to Section 2.08(c) above shall, to the extent permitted by
applicable law, be prima facie evidence of the existence and amounts of the obligations of each Borrower therein recorded; provided, however, that the failure of any Lender or the Administrative Agent to maintain such accounts, or any
error therein, shall not in any manner affect the obligation of any Borrower to repay (with applicable interest) the Loans made to such Borrower by such Lender in accordance with the terms of this Agreement. 

  
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 (e)    Each Borrower agrees that, upon the request to the Administrative
Agent by any Lender, such Borrower will promptly execute and deliver to such Lender a promissory note of such Borrower evidencing any Term Loans or Revolving Credit Loans, as the case may be, of such Lender, substantially in the forms of Exhibit F-1
or F-2, respectively (a “Term Note” or “Revolving Credit Note”, respectively), with appropriate insertions as to date and principal amount. 

Section 2.09.    Fees. (a) The Company agrees to pay to each Revolving Credit Lender, through the
Administrative Agent, on each March 31, June 30, September 30 and December 31 and on the Revolving Credit Termination Date and any other date on which the Revolving Credit Loans of such Lender shall be repaid (or on the date of termination
of such Lender’s Revolving Credit Commitment if such Lender has no Standby Loans outstanding after such date), a commitment fee (a “Commitment Fee”) equal to the Commitment Fee Percentage of the daily average amount of the
unused Revolving Credit Commitment of such Lender (whether or not the conditions set forth in Section 5.03 shall have been satisfied), during the preceding quarter (or shorter period commencing with the date hereof or ending with the date on which
the Revolving Credit Commitment of such Lender shall be terminated). All Commitment Fees shall be computed on the basis of the actual number of days elapsed in a year of 360 days. The Commitment Fee due to each Revolving Credit Lender
shall commence to accrue on the date hereof and shall cease to accrue on the date on which the Revolving Credit Commitment of such Lender is terminated. Anything herein to the contrary notwithstanding, during such period that a Revolving Credit
Lender is a Defaulting Lender, such Defaulting Lender will not be entitled to any Commitment Fees accruing during such period (without prejudice to the rights of the Revolving Credit Lenders other than Defaulting Lenders in respect of such fees).

 (b)    The Company agrees to pay to the Administrative Agent for the account of each Initial Term Loan Lender on the
Closing Date an upfront fee (which may be structured as original issue discount) equal to 1.00% of the Initial Term Loans funded by such Initial Term Loan Lender on such date. 

(c)    If, on or prior to the date that is one year following the Closing Date, the Company effects a Repricing
Transaction, the Company shall pay to the Administrative Agent, for the ratable account of each of the applicable Term Loan Lenders, (I) in the case of a Repricing Transaction described in clause (a) of the definition thereof, a prepayment premium
of 1.00% of the aggregate principal amount of the Initial Term Loans so prepaid, refinanced, substituted or replaced and (II) in the case of a Repricing Transaction described in clause (b) of the definition thereof, a fee equal to 1.00% of the
aggregate principal amount of the applicable Initial Term Loans outstanding immediately prior to such amendment. Such amounts shall be due and payable on the date of effectiveness of such Repricing Transaction. 

(d)    The Company agrees to pay to the Agents, for their own respective accounts, the fees in the amounts and on the
dates agreed to in writing by the Company and the Agents. 

  
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 (e)    All fees shall be paid on the dates due, in immediately available
funds, to the Administrative Agent for distribution, if and as appropriate, among the Lenders. Once paid, none of the fees shall be refundable under any circumstances. 

Section 2.10.    Termination or Reduction of Commitments. 

(a)    The Initial Term Loan Commitment of each Initial Term Loan Lender shall terminate in its entirety on the Closing
Date (after giving effect to the incurrence of the Initial Term Loans on such date). Unless previously terminated, the Revolving Credit Commitments shall terminate on the Revolving Credit Termination Date. 

(b)    Upon at least three Business Days’ prior irrevocable written (provided that such notice may state that
it is conditioned upon the effectiveness of other credit facilities, incurrence of other Indebtedness or consummation of another transaction (such as a Change of Control), in which case such notice may be revoked by the Company if such condition is
not satisfied prior to the stated effective date of the termination or reduction set forth in such notice) or telecopy notice to the Administrative Agent, the Company (on behalf of all the Borrowers) may at any time in whole permanently terminate,
or from time to time in part permanently reduce, the Total Revolving Credit Commitments; provided, however, that (i) each partial reduction of the Total Revolving Credit Commitments shall be in an integral multiple of $1,000,000 and in
a minimum principal amount of $5,000,000 and (ii) no such termination or reduction shall be made which would reduce the Total Revolving Credit Commitments to an amount less than the sum of (x) the aggregate outstanding principal amount (or Assigned
Dollar Value, in the case of Revolving Credit Loans denominated in Alternative Currencies) of the Competitive Loans and Standby Loans and (y) the L/C Obligations outstanding at such time. Notwithstanding the foregoing, as long as no Default or
Event of Default is continuing, the Company may terminate the unused amount of the Revolving Credit Commitment of a Defaulting Lender upon not less than ten Business Days’ prior notice to the Administrative Agent (which will promptly notify the
Revolving Credit Lenders thereof), it being understood that such termination will not be deemed to be a waiver or release of any claim any of the Borrowers or the Administrative Agent may have against such Defaulting Lender. 

(c)    Subject to the last sentence of Section 2.10(b) and to Section 2.25, any reduction in the Total Revolving Credit
Commitments hereunder shall be made ratably among the Revolving Credit Lenders in accordance with their respective Revolving Credit Commitments. Subject to the last sentence of Section 2.09(a), the Company shall pay to the Administrative Agent
for the account of the Revolving Credit Lenders, on the date of each termination or reduction, the Commitment Fees on the amount of the Revolving Credit Commitments so terminated or reduced accrued to but not including the date of such termination
or reduction. 
 (d)    A Revolving Credit Commitment terminated or reduced under this Section 2.10 may not be
reinstated. 
 (e)    On the fifth Business Day following the receipt of the Net Cash Proceeds of any Specified
Disposition (or, if earlier, the date on which any prepayment of the Term Loans is made with respect to such Specified Disposition pursuant to Section 2.12(b)), the Total Revolving Credit Commitments shall be automatically and permanently reduced
(without further 

  
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action on the part of any Person) to the extent necessary to cause the Total Net Leverage Ratio, on a Pro Forma Basis recomputed as of the end of the most recently ended Test Period (and assuming
for such purposes that the Total Revolving Credit Commitments were fully used and, for the avoidance of doubt, after giving effect to any prepayment of the Term Loans made in connection with such Specified Disposition pursuant to Section 2.12(b) and
any other prepayment, redemption, repurchase, defeasance or discharge of any Indebtedness made in connection with such Specified Disposition), to be not greater than 2.50:1.00. The amount of any required mandatory termination of Total Revolving
Credit Commitments pursuant to this Section 2.10(e) shall be determined in good faith by the Company and set forth in a certificate signed by a Responsible Officer (which certificate shall set forth in reasonable detail the calculation of the amount
of such mandatory reduction of the Total Revolving Credit Commitments) delivered to the Administrative Agent not later than the fifth Business Day following the receipt of the Net Cash Proceeds of the applicable Specified Disposition (or, if
earlier, the date on which any prepayment of the Term Loans is made in connection with such Specified Disposition pursuant to Section 2.12(b)), and the Administrative Agent shall give the Lenders prompt written notice of the amount of any such
required mandatory reduction of the Total Revolving Credit Commitments. The provisions of Section 2.10(c) and 2.12(e) shall apply to any such mandatory reduction of the Total Revolving Credit Commitments. 

(f)    On the fifth Business Day following the consummation of any Specified Distribution (or, if earlier, the date on
which any prepayment of the Term Loans is made with respect to such Specified Distribution pursuant to Section 2.12(c)), the Total Revolving Credit Commitments shall be automatically and permanently reduced (without further action on the part of any
Person) to the extent necessary to cause the Total Net Leverage Ratio, on a Pro Forma Basis recomputed as of the end of the most recently ended Test Period (and assuming for such purposes that the Total Revolving Credit Commitments were fully used
and, for the avoidance of doubt, after giving effect to any prepayment of the Term Loans made substantially simultaneously in connection with such Specified Distribution pursuant to Section 2.12(c) and any other prepayment, redemption, repurchase,
defeasance or discharge of any Indebtedness made in connection with such Specified Distribution), to be not greater than 2.50:1.00. The amount of any required mandatory termination of Total Revolving Credit Commitments pursuant to this Section
2.12(f) shall be determined in good faith by the Company and set forth in a certificate signed by a Responsible Officer (which certificate shall set forth in reasonable detail the calculation of the amount of such mandatory reduction of the Total
Revolving Credit Commitments) delivered to the Administrative Agent not later than the fifth Business Day following the occurrence of the Specified Distribution (or, if earlier, the date on which any prepayment of the Term Loans is made in
connection with such Specified Distribution pursuant to Section 2.12(c)), and the Administrative Agent shall give the Lenders prompt written notice of the amount of any such required mandatory reduction of the Total Revolving Credit
Commitments. The provisions of Section 2.10(c) shall apply to any such mandatory reduction of the Total Revolving Credit Commitments. 

Section 2.11.    Optional Prepayments. (a) The Borrowers may at any time and from time to time prepay the
Loans (other than Competitive Loans), in whole or in part, without premium or penalty (subject to Section 2.09(c)), upon irrevocable notice delivered to the Administrative Agent, (i) no later than 11:00 a.m., New York City time, three Business Days
prior thereto in the case of Eurocurrency Loans and (ii) no later than 11:00 a.m., New York City time, one Business 

  
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Day prior thereto in the case of Base Rate Loans, which notice shall specify the date and amount of such prepayment, whether such prepayment is of Term Loans or Revolving Credit Loans, and
whether such prepayment is of Eurocurrency Loans or Base Rate Loans; provided, that if a Eurocurrency Loan is prepaid on any day other than the last day of the Interest Period applicable thereto, the Borrower shall also pay any amounts owing
pursuant to Section 2.21, provided, further, that a notice of prepayment may state that such notice is conditioned upon the effectiveness of other credit facilities, incurrence of other Indebtedness or consummation of another
transaction (such as a Change of Control), in which case such notice may be revoked by the Company if such condition is not satisfied prior to the stated effective date of the termination or reduction set forth in such notice. Upon receipt of
any such notice the Administrative Agent shall promptly notify each relevant Lender thereof. If any such notice is given, the amount specified in such notice shall be due and payable on the date specified therein (unless such notice is revoked
as contemplated above), together with (except in the case of Revolving Credit Loans that are Base Rate Loans) accrued interest to such date on the amount prepaid. Partial prepayments of Loans of any Class shall be in an aggregate principal
amount of $5,000,000 or a whole multiple of $1,000,000 in excess thereof. Notwithstanding the foregoing, the Borrowers shall not have the right to prepay any Competitive Loans. 

(b)    Each prepayment of Term Loans pursuant to this Section 2.11 shall be applied to the remaining scheduled
installments of the Term Loans as directed by the Borrower and in the absence of such direction, to the remaining scheduled installments of the Term Loans in direct order of maturity. 

Section 2.12.    Mandatory Prepayments. (a) If any Indebtedness shall be incurred by the Company or any of its
Restricted Subsidiaries (excluding any Indebtedness incurred in accordance with Section 7.02), then not later than the next Business Day following such incurrence, the Term Loans shall be prepaid by an amount equal to the amount of the Net Cash
Proceeds of such incurrence. 
 (b)    If on any date following the Closing Date the Company or any of its Restricted
Subsidiaries shall receive Net Cash Proceeds from any Asset Sale or Recovery Event then, unless the Company intends to acquire or repair assets useful in the business of, or otherwise reinvest in, the Company and its Restricted Subsidiaries with all
or any portion of the relevant Net Cash Proceeds, not later than the fifth Business Day following the receipt by the Company or such Subsidiary of such Net Cash Proceeds, the Term Loans shall be prepaid by an amount equal to the amount of such Net
Cash Proceeds; provided that (i) any such prepayment shall only be required with the aggregate amount of Net Cash Proceeds from any Asset Sale or Recovery Event received in any fiscal year of the Company in excess of $20,000,000, (ii)
notwithstanding the foregoing, on each Reinvestment Prepayment Date the Loans shall be prepaid by an amount equal to the Reinvestment Prepayment Amount (or, in the case of a Reinvestment Prepayment Date described in clause (b) of the definition
thereof with respect to only a portion of the relevant Reinvestment Deferred Amount, an amount equal to such portion) with respect to the relevant Reinvestment Event and (iii) the aggregate amount of Net Cash Proceeds that the Company may apply to
the acquisition or repair of assets useful in the business of, or otherwise reinvest in, the Company and its Restricted Subsidiaries, in lieu of prepaying the Term Loans following the Closing Date shall not exceed $150,000,000 (excluding amounts
specified in the preceding clause (i)), provided however that Net Cash Proceeds from a Specified Disposition shall not be subject to any reinvestment rights and shall instead be applied in its entirety to prepay the Term
Loans.

  
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 (c)    Not later than five Business Days following a Specified Distribution,
the Company shall prepay in full all outstanding Term Loans. 
 (d)    If, for any Excess Cash Flow Period, there shall
be Excess Cash Flow, then, on the relevant Excess Cash Flow Application Date, the Term Loans shall be prepaid by an amount equal to (x) the ECF Percentage of such Excess Cash Flow minus (y) voluntary payments of Term Loans (including
Incremental Term Loans) under Section 2.11, Credit Agreement Refinancing Debt that is secured on a pari passu basis with the Obligations and Revolving Credit Loans (to the extent accompanied by a permanent commitment reduction), in each case
during such fiscal year or following such fiscal year and prior to such Excess Cash Flow Application Date to the extent not previously deducted pursuant to this clause (y) in any prior period, but only to the extent that such prepayments are
not made with the proceeds of long-term Indebtedness (other than revolving Indebtedness). Each such prepayment shall be made on a date (an “Excess Cash Flow Application Date”) no later than five Business Days after the earlier
of the date on which the financial statements of the Company referred to in Section 6.01(a), for the fiscal year with respect to which such prepayment is made, (i) are required to be delivered to the Lenders and (ii) are actually
delivered. 
 (e)    In the event of any termination of all the Revolving Credit Commitments, each Borrower shall, on
the date of such termination, repay or prepay all its outstanding Revolving Credit Loans and replace or cause to be canceled (or make other arrangements reasonably satisfactory to the Administrative Agent and each Issuing Lender with respect to) all
outstanding Letters of Credit issued by such Issuing Lender. If, after giving effect to any partial reduction of the Revolving Credit Commitments or at any other time, the sum of (i) the aggregate Committed Credit Exposure of all the Revolving
Credit Lenders plus (ii) the outstanding aggregate principal amount or Assigned Dollar Value of all Competitive Loans made by all the Revolving Credit Lenders plus (iii) the L/C Obligations then outstanding shall at any time exceed the
Total Revolving Credit Commitment, then (A) on the last day of any Interest Period for any Eurocurrency Standby Borrowing and (B) on any other date in the event any Base Rate Borrowing shall be outstanding, the Borrowers shall prepay Standby Loans
in an amount equal to the lesser of (x) the amount necessary to eliminate such excess and (y) the amount of the applicable Borrowings referred to in subclauses (i) and (ii) above and, after the Revolving Credit Loans shall have been repaid or
prepaid in full, replace or cause to be canceled (or make other arrangements satisfactory to the Administrative Agent and each Issuing Lender with respect to) Letters of Credit issued by such Issuing Lender in an amount sufficient to eliminate such
excess; provided, that in the case of any mandatory reduction of the Total Revolving Credit Commitments pursuant to Section 2.10(e), such prepayments of Revolving Credit Loans and replacement or cancellation of (or such making of other
arrangements with respect to) Letters of Credit shall be completed simultaneous with the effectiveness of such mandatory reduction of the Revolving Credit Commitments. If, on any date, the sum of (1) the aggregate Committed Credit Exposure of
all the Revolving Credit Lenders and (2) the outstanding aggregate principal amount or Assigned Dollar Value of all Competitive Loans made by all the Revolving Credit Lenders shall exceed 105% of the Total Revolving Credit Commitments (less
the L/C Commitment), then the Borrowers shall, not later than the third Business Day following the date 

  
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notice of such excess is received from the Administrative Agent, prepay one or more Standby Borrowings in an aggregate principal amount sufficient to eliminate such excess. On the date of
any termination or reduction of the Revolving Credit Commitments pursuant to this clause (d), the Borrowers shall pay or prepay so much of the Standby Borrowings as shall be necessary in order that the Revolving Extensions of Credit will not exceed
the Total Revolving Credit Commitments after giving effect to such termination or reduction. 
 (f)    Notwithstanding
anything to the contrary in this Agreement (including clauses (b) and (d) above), to the extent that the Company has determined that (i) any of or all the Net Cash Proceeds of any Asset Sale (other than a Specified Disposition) or Recovery
Event by a Foreign Subsidiary or Excess Cash Flow attributable to Foreign Subsidiaries (or branches of Foreign Subsidiaries) are prohibited or delayed by applicable local law from being repatriated to the Company (including financial assistance and
corporate benefit restrictions and fiduciary and statutory duties of the relevant directors), (ii) such repatriation would present a material risk of liability for the applicable Foreign Subsidiary or its directors or officers (or gives rise to
a material risk of breach of fiduciary or statutory duties by any director or officers) or (iii) such repatriation or any distribution of the relevant amounts would result in material adverse Tax consequences, the portion of such Net Cash
Proceeds or Excess Cash Flow so affected will not be required to be applied to repay Loans at the times set forth in this Section 2.12 but may be retained by the applicable Foreign Subsidiary or branch (the Company hereby agreeing to cause the
applicable Foreign Subsidiary or branch to promptly take commercially reasonable actions to permit such repatriation without violating applicable local law, risking the liability described in clause (ii) above, or incurring material adverse Tax
consequences); provided, that for a period of 180 days from receipt of such Net Cash Proceeds, if such repatriation, and once such repatriation of any of such affected Net Cash Proceeds becomes permitted under such applicable local law,
would not present a material risk as described in clause (ii) above, or no such material adverse Tax consequences would result from such distribution, such distribution will be immediately affected and such distributed Net Cash Proceeds will be
promptly (and in any event not later than ten Business Days after such distribution) applied (net of additional Taxes payable or reserved against as a result thereof) to the repayment of loans pursuant to this Section 2.12. For the
avoidance of doubt, but without limiting the Company’s obligations under this Section 2.12, in no circumstance shall this Section 2.12 require any Foreign Subsidiary to make any dividend of or otherwise repatriate for the benefit of the Company
any portion of any Net Cash Proceeds received by such Foreign Subsidiary or Excess Cash Flow attributable to any such Foreign Subsidiary. 

(g)    All prepayments made pursuant to this Section 2.12 shall be subject to Section 2.21, but shall otherwise be without
premium or penalty, and shall be accompanied by accrued interest on the principal amount to be repaid to but excluding the date of payment. 

(h)    Each prepayment of Term Loans pursuant to this Section 2.12 shall be applied to the remaining scheduled
installments of the Term Loans as directed by the Company and in the absence of such direction, to the remaining scheduled installments of the Term Loans in direct order of maturity. 

(i)    The Company shall deliver to the Administrative Agent, at the time of each prepayment required under this Section
2.12, a certificate signed by a Responsible Officer setting 

  
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forth in reasonable detail the calculation of the amount of such prepayment. Each notice of prepayment shall specify the prepayment date, the Type of each Loan being prepaid and the
principal amount of each Loan (or portion thereof) to be prepaid. 
 (j)    With respect to any mandatory prepayments of
the Term Loans under this Section 2.12 (other than Section 2.12(a), 2.12(b) (only with respect to a Specified Disposition) and 2.12(c)), each Term Loan Lender may reject all or a portion of its Term Loan Percentage, or other applicable share
provided for under this Agreement, of such mandatory prepayment of Term Loans (such declined amounts, the “Declined Proceeds”) by providing written notice (each, a “Rejection Notice”) to the Administrative Agent and
the Company no later than 5:00 p.m., New York time, two Business Days after the date of such Lender’s receipt of notice from the Administrative Agent regarding such prepayment. Each Rejection Notice from a given Lender shall specify the
principal amount of the mandatory repayment of Term Loans to be rejected by such Lender. If a Term Loan Lender fails to deliver a Rejection Notice to the Administrative Agent within the time frame specified above or such Rejection Notice fails
to specify the principal amount of the Term Loans to be rejected, any such failure will be deemed an acceptance of the total amount of such mandatory prepayment of Term Loans. Subject to the terms of this Agreement, any Declined Proceeds
remaining shall be retained by the Company. 
 Section 2.13.    Conversion and Continuation Options. (a)
Each Borrowing initially shall be of the Type specified in the applicable Borrowing Request and, in the case of a Eurocurrency Standby Borrowing and/or Eurocurrency Term Borrowing, shall have an initial Interest Period as specified in such Borrowing
Request. The Borrower may elect from time to time to convert its Borrowings to a different Type or to continue such Borrowing and, in the case of a Eurocurrency Standby Borrowing and/or Eurocurrency Term Borrowing, as applicable, may elect
Interest Periods therefor, all as provided in this Section. Such Borrower may elect different options with respect to different portions of the affected Borrowing, in which case each such portion shall be allocated ratably among the Lenders
holding the Loans comprising such Borrowing, and the Loans comprising each such portion shall be considered a separate Borrowing. This Section shall not apply to Competitive Borrowings, which may not be converted or continued. 

(b)    To make an election pursuant to this Section, the applicable Borrower shall notify the Administrative Agent of such
election by telephone, telecopy or in *pdf format sent via electronic mail by (i) in the case of a Eurocurrency Borrowing, not later than 11:00 a.m., New York City time, three Business Days before the effective date of such election and/or
conversion and (ii) in the case of a Base Rate Borrowing, not later than 11:00 a.m., New York City time, on the effective date of such election and/or conversion. Each such Interest Election Request shall be irrevocable and, if telephonic,
shall be confirmed promptly by hand delivery, telecopy or in *pdf format sent via electronic mail to the Administrative Agent of a written Interest Election Request substantially in the form of Exhibit A-7 hereto. Notwithstanding any other
provision of this Section, the Borrower shall not be permitted to (i) change the currency of any Borrowing (it being understood that the Term Loans shall always be denominated in Dollars) or (ii) elect an Interest Period for Eurocurrency Loans that
would end after the final scheduled termination or maturity date of such Facility. Upon receipt of any such notice the Administrative Agent shall promptly notify each relevant Lender thereof. 

  
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 (c)    Each telephonic and written Interest Election Request shall specify
the following information in compliance with Section 2.05 (to the extent applicable) and paragraph (e) of this Section: 

(i)    the Borrowing to which such Interest Election Request applies and, if different options are being
elected with respect to different portions thereof, the portions thereof to be allocated to each resulting Borrowing (in which case the information to be specified pursuant to clauses (iii) and (iv) below shall be specified for each resulting
Borrowing); 
 (ii)    the effective date of the election made pursuant to such Interest Election
Request, which shall be a Business Day; 
 (iii)    whether the resulting Borrowing is to be a Base Rate
Borrowing or a Eurocurrency Borrowing; and 
 (iv)    if the resulting Borrowing is to be a Eurocurrency
Borrowing, the Interest Period to be applicable thereto after giving effect to such election, which shall be a period contemplated by the definition of the term “Interest Period”. 

If any such Interest Election Request requests a Eurocurrency Borrowing but does not specify an Interest Period, then the Borrower shall be
deemed to have selected an Interest Period of one month’s duration. 
 (d)    Promptly following receipt of an
Interest Election Request, the Administrative Agent shall advise each applicable Lender of the details thereof and of such Lender’s portion of each resulting Borrowing. 

(e)    If the Borrower fails to deliver a timely Interest Election Request with respect to a Eurocurrency Borrowing prior
to the end of the Interest Period applicable thereto, then, unless such Borrowing is repaid as provided herein, at the end of such Interest Period such Borrowing shall (i) in the case of a Borrowing denominated in Dollars, be converted to a Base
Rate Borrowing and (ii) in the case of any other Eurocurrency Borrowing, continue as a Eurocurrency Borrowing in the same currency and with an Interest Period of one month. Notwithstanding any contrary provision hereof, if an Event of Default
has occurred and is continuing and the Administrative Agent, at the request of the Majority Facility Lenders, so notifies the Company in writing, then, so long as an Event of Default is continuing (i) no outstanding Term Borrowing and/or
Standby Borrowing that is denominated in Dollars may be converted to or continued as a Eurocurrency Borrowing and (ii) unless repaid, each Eurocurrency Borrowing denominated in Dollars shall be converted to a Base Rate Borrowing at the end of
the Interest Period applicable thereto. 
 Section 2.14.    Minimum Amounts and Maximum Number of Eurocurrency
Tranches. Notwithstanding anything to the contrary in this Agreement, all borrowings, conversions, continuations and optional prepayments of Eurocurrency Loans and all selections of Interest Periods shall be in such amounts and be made
pursuant to such elections so that, (a) with respect each Facility after giving effect thereto, the aggregate principal amount of the Eurocurrency Loans comprising each Eurocurrency Tranche for such Facility shall be equal to $5,000,000 or a

  
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whole multiple of $1,000,000 in excess thereof and (b) (i) no more than 5 Eurocurrency Tranches with respect to the Term Loan Facility shall be outstanding at any one time and (ii) no more than
10 Eurocurrency Tranches (which for the avoidance of doubt shall include all Dollar denominated and Alternative Currency denominated Eurocurrency Tranches) with respect to the Revolving Credit Facility shall be outstanding at any one time. 

Section 2.15.    Interest Rates and Payment Dates. (a) Subject to the provisions of Section 2.16, the Loans
comprising each Eurocurrency Borrowing shall bear interest (computed on the basis of the actual number of days elapsed over a year of 360 days), at a rate per annum equal to (i) in the case of each Eurocurrency Standby Loan in Dollars or any
Alternative Currency (other than Euros), the Adjusted LIBO Rate for the Interest Period in effect for the Borrowing of which such Loan is part plus the Applicable Margin from time to time in effect, (ii) in the case of each Eurocurrency
Standby Loan in Euros, the Adjusted EURIBO Rate for the Interest Period in effect for the Borrowing of which such Loan is part plus the Applicable Margin from time to time in effect, (iii) in the case of each Eurocurrency Competitive Loan
denominated in Dollars or any Alternative Currency (other than Euros), the LIBO Rate for the Interest Period in effect for the Borrowing of which such Loan is a part plus the Competitive Margin offered by the Lender making such Loan and
accepted by the applicable Borrower pursuant to Section 2.06, (iv) in the case of each Eurocurrency Competitive Loan denominated in Euros, the EURIBO Rate for the Interest Period in effect for the Borrowing of which such Loan is a part plus
the Competitive Margin offered by the Lender making such Loan and accepted by the applicable Borrower pursuant to Section 2.06 and (v) in the case of each Eurocurrency Term Loan, the Adjusted LIBO Rate for the Interest Period in effect for the
Borrowing of which such Loan is part plus the Applicable Margin from time to time in effect. 
 (b)    Subject to
the provisions of Section 2.16, (i) each Base Rate Borrowing of Term Loans shall bear interest (computed on the basis of the actual number of days elapsed over a year of 365 or 366 days, as appropriate) at a rate per annum equal to the Base Rate
plus the Applicable Margin from time to time in effect with respect to Term Loans that are Base Rate Loans and (ii) each Base Rate Borrowing of Revolving Credit Loans shall bear interest (computed on the basis of the actual number of days
elapsed over a year of 365 or 366 days, as appropriate, when determined by reference to the Prime Rate and over a year of 360 days at all other times) at a rate per annum equal to the Base Rate plus the Applicable Margin from time to time in
effect with respect to Revolving Credit Loans that are Base Rate Loans. 
 (c)    Subject to the provisions of Section
2.16, each Fixed Rate Loan shall bear interest at a rate per annum (computed on the basis of the actual number of days elapsed over a year of 360 days) equal to the fixed rate of interest offered by the Lender making such Loan and accepted by the
applicable Borrower pursuant to Section 2.06. 
 (d)    With respect to each Facility, the Administrative Agent shall as
soon as practicable notify the Company and the relevant Lenders of each determination of an Adjusted LIBO Rate and/or Adjusted EURIBO Rate, as applicable. Any change in the interest rate on a Loan resulting from a change in the Base Rate or the
Statutory Reserves Rate shall become effective as of the opening of business on the day on which such change becomes effective. The Administrative Agent shall as soon as practicable notify the Company and the relevant Lenders of the effective
date and the amount of each such change in interest rate 

  
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 (e)    Interest on each Loan shall be payable in arrears on each Interest
Payment Date applicable to such Loan; provided that interest accruing pursuant to Section 2.16 shall be payable from time to time on demand. In the event of any conversion of any Eurocurrency Standby Loan and/or Eurocurrency Term Loan,
as applicable, prior to the end of the current Interest Period therefor, accrued interest on such Loan shall be payable on the effective date of such conversion. The applicable LIBO Rate, EURIBO Rate or Base Rate for each Interest Period or day
within an Interest Period, as the case may be, shall be determined by the Administrative Agent of the respective Facility, and such determination shall be conclusive absent manifest error. 

(f)    Each determination of an interest rate by the Administrative Agent pursuant to any provision of this Agreement
shall be conclusive and binding on the Borrowers and the Lenders in the absence of manifest error. 
 Section
2.16.    Default Interest. (a) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such
overdue amount (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (i) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section 2.16
plus 2% or (ii) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, in each case, from the date of such nonpayment until such amount is paid in full (after as
well as before judgment). 
 (b)    If all or a portion of any interest payable on any Loan or Reimbursement Obligation
or any commitment fee or other amount payable hereunder or under any other Loan Document shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount (to the extent legally permitted) shall bear
interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base
Rate Loans under the Revolving Credit Facility plus 2%), in each case, from the date of such nonpayment until such amount is paid in full (after as well as before judgment). 

Section 2.17.    Inability To Determine Interest Rate. 

(a)    In the event, and on each occasion, that on the day two Business Days prior to the commencement of any Interest
Period for a Eurocurrency Borrowing of any Type, the Administrative Agent shall have determined that Dollar deposits or deposits in the Alternative Currency in which such Borrowing is to be denominated in the principal amounts of the Loans
comprising such Borrowing are not generally available in the London interbank market, or that reasonable means do not exist for ascertaining the LIBO Rate or EURIBO Rate, the Administrative Agent shall, as soon as practicable thereafter, give
written or telecopy notice of such determination to the applicable Borrower and the Lenders and, until the Administrative Agent shall have advised the applicable Borrower and the Lenders that the circumstances giving rise to such notice no longer
exist, (i) any request by a Borrower for a Eurocurrency Competitive Borrowing pursuant to Section 2.06 shall be of no force or effect and shall be denied by the Administrative Agent, (ii) any request by a Borrower for a Eurocurrency Term Borrowing,
Eurocurrency Standby Borrowing of the affected Type or in the affected currency shall be deemed to be a request for a Base Rate Borrowing denominated in Dollars and (iii) any Interest 

  
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Election Request that requests the conversion of any Standby Borrowing and/or Term Borrowing to, or continuation of any Standby Borrowing or Term Borrowing, as applicable, as, a Eurocurrency
Borrowing shall be ineffective, and unless repaid such Borrowing shall be converted to or continued on the last day of the Interest Period applicable thereto (A) if such Borrowing is denominated in Dollars, as a Base Rate Borrowing, or (B) if such
Borrowing is denominated in any Alternative Currency, as a Borrowing bearing interest at such rate as the Administrative Agent shall determine adequately and fairly reflects the cost to the affected Lenders (or Lender) of making or maintaining their
Loans (or its Loan) included in such Borrowing for such Interest Period (which shall at no time be less than 0.00% per annum) plus the Applicable Margin. 

(b)    In the event, and on each occasion, that on the day two Business Days prior to the commencement of any Interest
Period for a Eurocurrency Borrowing of any Type the Administrative Agent shall have been advised by the Majority Facility Lenders in respect of the relevant Facility that the rates at which Dollar deposits or deposits in the Alternative Currency in
which such Borrowing is to be denominated in the principal amounts of the Loans comprising such Borrowing are being offered will not adequately and fairly reflect the cost to such Lenders of making or maintaining Eurocurrency Loans during such
Interest Period, the Administrative Agent, may in consultation with the affected Lenders, give written or telecopy notice of such determination to the Company, the applicable Borrower and the applicable Lenders and until the Administrative Agent
shall have advised the Company, the applicable Borrower and the applicable Lenders that the circumstances giving rise to such notice no longer exist, (i) any request by a Borrower for a Eurocurrency Competitive Borrowing pursuant to Section 2.06 may
be denied by the Administrative Agent, (ii) any request by a Borrower for a Eurocurrency Standby Borrowing of the affected Type or in the affected currency may deemed to be a request for a Base Rate Borrowing denominated in Dollars, (iii) any
request by a Borrower for a Eurocurrency Term Borrowing of the affected Type may deemed to be a request for a Base Rate Borrowing and (iv) any Interest Election Request that requests the conversion of any Term Borrowing and/or Standby Borrowing to,
or continuation of any Term Borrowing and/or Standby Borrowing, as applicable, a Eurocurrency Borrowing may be deemed ineffective, and unless repaid such Borrowing may be converted to or continued on the last day of the Interest Period applicable
thereto (A) if such Borrowing is denominated in Dollars, as a Base Rate Borrowing, or (B) if such Borrowing is denominated in any Alternative Currency, as a Borrowing bearing interest at such rate as the Administrative Agent shall determine
adequately and fairly reflects the cost to the applicable Lenders of making or maintaining their Loans included in such Borrowing for such Interest Period (which shall at no time be less than 0.00% per annum), as notified to the Company no later
than one Business Day prior to the last day of such applicable Interest Period, plus the Applicable Margin. 

(c)    Each determination by the Administrative Agent under this Section 2.17 shall be conclusive absent manifest error.

 Section 2.18.    Pro Rata Treatment and Payments. (a) Each Borrowing of Term Loans by the Company from
the Term Loan Lenders hereunder, shall be made pro rata according to the respective Term Loan Percentages of the Term Loan Lenders. Each payment of interest in respect of the Term Loans and each payment in respect of fees payable hereunder
shall be applied to the amounts of such obligations owing to the Term Loan Lenders pro rata according to the respective amounts then due and owing to the applicable Term Loan Lenders. 

  
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 (b)    Each payment on account of principal of the Term Loans outstanding
under the Term Loan Facility shall be allocated among the Term Loan Lenders holding such Term Loans pro rata based on the principal amount of such Term Loans held by such Term Loan Lenders. Amounts paid or prepaid in respect of Term Loans may
not be reborrowed. For the avoidance of doubt, Section 2.18(a) and (b) do not prohibit non pro rata payments of differing Classes of Term Loans to the extent otherwise permitted hereunder. 

(c)    Except as required under Section 2.22 or as provided in Section 2.25, each Standby Borrowing, each payment or
prepayment of principal of any Standby Borrowing, each payment of interest on the Standby Loans, each payment of the Commitment Fees, each reduction of the Revolving Credit Commitments and each conversion of any Borrowing into, or continuation of, a
Standby Borrowing of any Type, shall be allocated pro rata among the Revolving Credit Lenders in accordance with their respective Revolving Credit Commitments (or, if such Revolving Credit Commitments shall have expired or been terminated, in
accordance with the respective principal amounts of their outstanding Standby Loans). Each payment of principal of any Competitive Borrowing shall be allocated pro rata among the Revolving Credit Lenders participating in such Borrowing in
accordance with the respective principal amounts of their outstanding Competitive Loans comprising such Borrowing. Each payment of interest on any Competitive Borrowing shall be allocated pro rata among the Revolving Credit Lenders
participating in such Borrowing in accordance with the respective amounts of accrued and unpaid interest on their outstanding Competitive Loans comprising such Borrowing. For purposes of determining (i) the aggregate available Revolving Credit
Commitments of the Revolving Credit Lenders at any time and (ii) the available Revolving Credit Commitment of each Revolving Credit Lender, each outstanding Competitive Borrowing shall be deemed to have utilized the Revolving Credit Commitments of
the Revolving Credit Lenders (including those Revolving Credit Lenders which shall not have made Revolving Credit Loans as part of such Competitive Borrowing) pro rata in accordance with such respective Revolving Credit Commitments; provided,
however, that for purposes of determining payments of Commitment Fees under Section 2.09, each outstanding Competitive Borrowing shall be deemed to have utilized the Revolving Credit Commitments of only the Revolving Credit Lenders that have
made Competitive Loans comprising such Competitive Borrowing (it being understood that the Revolving Credit Commitment of Revolving Credit Lenders which shall not have made Revolving Credit Loans as part of such Competitive Borrowing shall not be
deemed utilized as a result of such Competitive Borrowing). Each Revolving Credit Lender agrees that in computing such Revolving Credit Lender’s portion of any Borrowing to be made hereunder, the Administrative Agent may, in its
discretion, round each Revolving Credit Lender’s Revolving Credit Percentage of such Borrowing to the next higher or lower whole Dollar (or comparable unit of any applicable Alternative Currency) amount. 

(d)    Each payment in respect of Reimbursement Obligations in respect of any Letter of Credit shall be made to each
Issuing Lender that issued such Letter of Credit. 
 (e)    The application of any payment of Loans under any Facility
(including optional and mandatory prepayments) shall be made first, to Base Rate Loans under such Facility and 

  
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second, to Eurocurrency Loans under such Facility. Each payment of the Loans (except in the case of Revolving Credit Loans that are Base Rate Loans) shall be accompanied by accrued interest
to the date of such payment on the amount paid. 
 (f)    All payments (including prepayments) to be made by any
Borrower hereunder, whether on account of principal, interest, fees or otherwise, shall be made without setoff or counterclaim and shall be made prior to 1:00 P.M., New York City time, on the due date thereof to the Administrative Agent, for the
account of the relevant Lenders, at the Payment Office, in Dollars and in immediately available funds. Any payment made by any Borrower after 1:00 P.M., New York City time, on any Business Day shall be deemed to have been on the next following
Business Day. If any payment hereunder (other than payments on Eurocurrency Loans) becomes due and payable on a day other than a Business Day, such payment shall be extended to the next succeeding Business Day. If any payment on a
Eurocurrency Loan becomes due and payable on a day other than a Business Day, the maturity thereof shall be extended to the next succeeding Business Day unless the result of such extension would be to extend such payment into another calendar month,
in which event such payment shall be made on the immediately preceding Business Day. In the case of any extension of any payment of principal pursuant to the preceding two sentences, interest thereon shall be payable at the then applicable rate
during such extension. 
 (g)    Unless the Administrative Agent shall have been notified in writing by any Lender prior
to a Borrowing that such Lender will not make the amount that would constitute its share of such Borrowing available to the Administrative Agent, the Administrative Agent may assume that such Lender is making such amount available to the
Administrative Agent, and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower a corresponding amount. If such amount is not made available to the Administrative Agent by the required time on the
Borrowing Date therefor, such Lender shall pay to the Administrative Agent, on demand, such amount with interest thereon at a rate equal to the greater of (i) the Federal Funds Effective Rate and (ii) a rate determined by the Administrative Agent in
accordance with banking industry rules on interbank compensation, for the period until such Lender makes such amount immediately available to the Administrative Agent. A certificate of the Administrative Agent submitted to any Lender with
respect to any amounts owing under this paragraph shall be conclusive in the absence of manifest error. If such Lender’s share of such Borrowing is not made available to the Administrative Agent by such Lender within three Business Days
after such Borrowing Date, the Administrative Agent shall also be entitled to recover such amount with interest thereon at the rate per annum applicable to Base Rate Loans under the relevant Facility, on demand, from the Borrower. 

(h)    Unless the Administrative Agent shall have been notified in writing by any Borrower prior to the date of any
payment due to be made by any Borrower hereunder that such Borrower will not make such payment to the Administrative Agent, the Administrative Agent may assume that the Borrower is making such payment, and the Administrative Agent may, but shall not
be required to, in reliance upon such assumption, make available to the Lenders their respective pro rata shares of a corresponding amount. If such payment is not made to the Administrative Agent by such Borrower within three Business Days
after such due date, the Administrative Agent shall be entitled to recover, on demand, from each Lender to which any amount which was made available pursuant to the preceding sentence, such amount with interest

  
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thereon at the rate per annum equal to the daily average Federal Funds Effective Rate. Nothing herein shall be deemed to limit the rights of the Administrative Agent or any Lender against
any Borrower. 
 (i)    This Section 2.18 shall not be construed to apply to any payment made by any Borrower pursuant
to and in accordance with the express provisions of this Agreement, including differing payments to be made to non-Defaulting Lenders as opposed to Defaulting Lenders and payments made in connection with an assignment permitted under Section
10.06. This Section 2.18 shall be subject to the provisions of Section 2.22 and Section 2.24. 
 (j)    Upon
receipt by the Administrative Agent of payments on behalf of Lenders, the Administrative Agent shall promptly distribute such payments to the Lender or Lenders entitled thereto, in like funds as received by the Administrative Agent. 

Section 2.19.    Requirements of Law. (a) If any Change in Law: 

(i)    shall subject any Lender or Issuing Lender to any tax of any kind whatsoever with respect to this
Agreement, any Letter of Credit, any Application or any Eurocurrency Loan made by it, or change the basis of taxation of payments to such Lender or such Issuing Lender in respect thereof (except for (A) Non-Excluded Taxes, (B) Taxes
described in clauses (ii) through (iv) of the definition of Excluded Taxes, and (C) net income Taxes, branch profit Taxes and franchise Taxes imposed as a result of a present or former connection between such Lender or Issuing Lender and the
jurisdiction of the Governmental Authority imposing such tax or any political subdivision or taxing authority thereof or therein (other than any such connection arising solely from such Lender’s or such Issuing Lender’s having executed,
delivered or performed its obligations or received a payment under, or enforced, this Agreement or any other Loan Document in such jurisdiction); 

(ii)    shall impose, modify or hold applicable any reserve, special deposit, compulsory loan, insurance
charge or similar requirement against assets held by, deposits or other liabilities in or for the account of, advances, loans or other extensions of credit by, or any other acquisition of funds by, any office of any Lender that is not otherwise
included in the determination of the Adjusted LIBO Rate or the Adjusted EURIBO Rate hereunder or any Issuing Lender; or 

(iii)    shall impose on any Lender, any Issuing Lender or the London interbank market any other condition,
cost or expense affecting this Agreement, Eurocurrency Loans or Fixed Rate Loans made by such Lender or any Letter of Credit or participation therein; 

and the result of any of the foregoing is to increase the cost to such Lender or Issuing Lender, by an amount which such Lender or Issuing Lender deems to be
material, of making, converting into, continuing or maintaining Eurocurrency Loans, Fixed Rate Loans or of maintaining its obligation to make any such Loan or issuing, maintaining or participating in Letters of Credit (or of maintaining its
obligation to participate in or issue Letters of Credit), or to reduce any amount received or receivable hereunder in respect thereof (whether principal, interest or any other 

  
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amount), then, in any such case, the Company shall promptly pay such Lender or Issuing Lender, as the case may be, upon its demand, any additional amounts necessary to compensate such Lender or
Issuing Lender, as the case may be, for such increased cost or reduced amount receivable; provided that the Borrowers shall not be required to compensate a Lender or an Issuing Lender pursuant to this paragraph for any amounts incurred more
than six months prior to the date that such Lender or Issuing Lender, as the case may be, notifies the Company of such Lender’s or Issuing Lender’s, as the case may be, intention to claim compensation therefor; and provided further
that, if the circumstances giving rise to such claim have a retroactive effect, then such six-month period shall be extended to include the period of such retroactive effect; provided further that such Lender’s (or Issuing
Lender’s) general policy is to make such claims against all similarly situated borrowers. If any Lender or Issuing Lender becomes entitled to claim any additional amounts pursuant to this Section 2.19, it shall promptly notify the Company
(with a copy to the Administrative Agent) of the event by reason of which it has become so entitled. 
 (b)    If any
Lender or any Issuing Lender shall have determined that any Change in Law affecting such Lender or Issuing Lender or any lending office of such Lender or such Lender’s or Issuing Lender’s holding company, if any, regarding capital adequacy
or liquidity has or shall have the effect of reducing the rate of return on such Lender’s or Issuing Lender’s capital or on the capital of such Lender’s or such Issuing Lender’s holding company, if any, as a consequence of this
Agreement, the Commitments of such Lender or the Loans made by, or participations in Letters of Credit held by such Lender, or the Letters of Credit issued by any Issuing Lender to a level below that which such Lender, such Issuing Lender or such
holding company could have achieved but for such Change in Law (taking into consideration such Lender’s, such Issuing Lender’s or such holding company’s policies with respect to capital adequacy or liquidity) by an amount deemed by
such Lender or such Issuing Lender to be material, then from time to time, after submission by such Lender or such Issuing Lender to the Company (with a copy to the Administrative Agent) of a written request therefor, the Company shall pay to such
Lender or such Issuing Lender, as the case may be, such additional amount or amounts as will compensate such Lender, Issuing Lender or holding company, as the case may be, for such reduction. 

(c)    A certificate as to any additional amounts payable pursuant to this Section 2.19 submitted by any Lender or any
Issuing Lender to the Company (with a copy to the Administrative Agent) shall be conclusive in the absence of manifest error. Absent manifest error, the Company shall pay such Lender or such Issuing Lender the amount shown as due on any such
certificate delivered by it within 15 days after its receipt of the same. The obligations of the Company pursuant to this Section 2.19 shall survive the termination of this Agreement and the payment of the Loans and all other amounts
payable hereunder. 
 Section 2.20.    Taxes. (a) All payments made by or on account of any obligation of
any Loan Party under this Agreement and each other Loan Document shall be made free and clear of, and without deduction or withholding for or on account of, any present or future income, stamp or other taxes, levies, imposts, duties, charges, fees,
deductions or withholdings (together, “Taxes”), now or hereafter imposed, levied, collected, withheld or assessed by any Governmental Authority, excluding (i) net income taxes, branch profit taxes and franchise taxes (imposed in
lieu of net income taxes) imposed on any Agent or any Lender as a result of a present or former connection between such Agent or such Lender and the jurisdiction of the 

  
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Governmental Authority imposing such tax or any political subdivision or taxing authority thereof or therein (other than any such connection arising solely from such Agent’s or such
Lender’s having executed, delivered or performed its obligations or received a payment under, or enforced, this Agreement or any other Loan Document in such jurisdiction), (ii) any Taxes attributable to such Agent’s or Lender’s
failure or inability to comply with the requirements of paragraph (e), (f) or (h) of this Section, (iii) any United States withholding Taxes imposed on amounts payable to such Agent or such Lender at the time such Agent or Lender becomes a party to
this Agreement, except (x) to the extent that such Agent’s or Lender’s assignor (if any) was entitled, at the time of assignment, to receive additional amounts from any Borrower with respect to such Non-Excluded Taxes pursuant to this
paragraph (a) and (y) in the case of any assignment occurring pursuant to Section 10.19 and (iv) any U.S. federal withholding Tax imposed under FATCA (any Taxes described in clauses (i)- (iv), “Excluded Taxes”). If any such
non-excluded taxes, levies, imposts, duties, charges, fees, deductions or withholdings imposed on or with respect to any amounts payable to the Agent or any Lender by or on account of any Loan Party under any Loan Document (“Non-Excluded
Taxes”) are required to be withheld from any amounts payable to any Agent or any Lender hereunder, the amounts so payable to such Agent or such Lender shall be increased to the extent necessary to yield to such Agent or such Lender (after
payment of all Non-Excluded Taxes and Other Taxes including those imposed or asserted on or attributable to amounts payable pursuant to this paragraph (a)) interest or any such other amounts payable hereunder at the rates or in the amounts specified
in this Agreement. 
 (b)    In addition, the Borrowers shall pay any Other Taxes to the relevant Governmental Authority
in accordance with applicable law. 
 (c)    Whenever any Non-Excluded Taxes or Other Taxes are payable by any Borrower,
as promptly as possible thereafter such Borrower shall send to the Administrative Agent for the account of the relevant Agent or Lender, as the case may be, a certified copy of an original official receipt received by such Borrower showing payment
thereof, a copy of the return reporting such payment, or other evidence of such payment. The Borrowers shall indemnify each Agent and each Lender for (i) the full amount of any Non-Excluded Taxes or Other Taxes paid by such Agent or Lender and
(ii) any reasonable out-of-pocket expenses arising therefrom or with respect thereto, provided such Agent or Lender, as the case may be, provides the Company with a written statement thereof setting forth in reasonable detail the basis
and calculation of such amounts which shall be conclusive absent manifest error; provided further, that if the Administrative Agent or Lender requests indemnification more than 180 calendar days after the earlier of (i) the date
on which such Administrative Agent or Lender makes such payment of Non-Excluded Taxes or Other Taxes or liability arising therefrom or with respect thereto and (ii) the date on which the relevant Governmental Authority or other party makes written
demand upon such Agent or Lender for payment of such Non-Excluded Taxes or Other Taxes or liability arising therefrom or with respect thereto, such Agent or Lender shall not be indemnified to the extent such delay results in prejudice to any
Borrower. 
 (d)    Each Lender shall severally indemnify the Administrative Agent, as promptly as possible after demand
therefor, for (i) any Non-Excluded Taxes or Other Taxes attributable to such Lender (but only to the extent that the Borrowers have not already indemnified the Administrative Agent for such Taxes and without limiting the obligation of the Borrowers
to do so), (ii) any Taxes attributable to such Lender’s failure to comply with the provisions of Section 

  
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10.06(b) relating to the maintenance of a Participant Register and (iii) any Excluded Taxes attributable to such Lender, in each case, that are payable or paid by the Administrative Agent in
connection with any Loan Document, and any reasonable expenses arising therefrom or with respect thereto, whether or not such Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate as to the
amount of such payment or liability delivered to any Lender by the Administrative Agent shall be conclusive absent manifest error. Each Lender hereby authorizes the Administrative Agent to set off and apply any and all amounts at any time owing
to such Lender under any Loan Document or otherwise payable by the Administrative Agent to the Lender from any other source against any amount due to the Administrative Agent under this paragraph. 

(e)    Each Lender (or Transferee) that is not a “U.S. Person” as defined in Section 7701(a)(30) of
the Code (a “Non-U.S. Lender”) shall deliver to the Company and the Administrative Agent (or, in the case of a Participant, to the Lender from which the related participation shall have been purchased) whichever of the following is
applicable: (i) two accurate, complete and executed copies of Internal Revenue Service Form W-8ECI (or successor forms), (ii) two accurate and complete signed copies of Internal Revenue Service Form W-8BEN or W-8BEN-E (or successor forms)
claiming eligibility for the benefits of an income tax treaty to which the United States is a party, (iii) in the case of a Non-U.S. Lender claiming the benefits of the exemption for portfolio interest under Section 871(h) or
Section 881(c) of the Code, (x) a certificate substantially in the form of Exhibit G-1 and (y) two accurate, complete and executed copies of Internal Revenue Service Form W-8BEN or W-8BEN-E (or successor form), (iv) to the extent that a
Non-U.S. Lender is not the beneficial owner (for example, where the Non-U.S. Lender is a partnership or a participating Lender), two accurate, complete and executed copies of Internal Revenue Service Form W-8IMY (or successor form) of the Non-U.S.
Lender, accompanied by a Form W-8ECI, Form W-8BEN, Form W-8BEN-E, a certificate substantially in the form of Exhibit G-3 or Exhibit G-4, Internal Revenue Service Form W-9 and/or other documents from each beneficial owner, as applicable, that would
be required under this Section 2.20(e) if such beneficial owner were a Lender; provided that if the Non-U.S. Lender is a partnership (and not a participating Lender) and one or more direct or indirect partners of such Non-U.S. Lender are
claiming the portfolio interest exemption, such Non-U.S. Lender may provide a certificate substantially in the form of Exhibit G-2 (in lieu of a certificate substantially in the form of Exhibit G-3 or Exhibit G-4) on behalf of each such direct and
indirect partner(s), and (v) if it is legally entitled to do so, two accurate and complete signed copies of any other form prescribed by applicable U.S. federal income tax laws (including the Treasury regulations) as a basis for claiming complete
exemption from, or reduction in, U.S. federal withholding tax on any payments to such Lender under this Agreement and any other Loan Document. Such forms shall be delivered by each Non-U.S. Lender on or before the date it becomes a party to
this Agreement (or, in the case of any Participant, on or before the date such Participant purchases the related participation). In addition, each Non-U.S. Lender shall deliver such forms promptly upon the obsolescence or invalidity of any form
previously delivered by such Non-U.S. Lender. Each Non-U.S. Lender shall promptly notify the Company at any time it determines that it is no longer legally able to provide any previously delivered certificate to the Company (or any other form
of certification adopted by the U.S. taxing authorities for such purpose). The Administrative Agent shall deliver to the Company two copies of (i) if the Administrative Agent is a “United States person” as defined in
Section 7701(a)(3) of the Code, Internal Revenue Service Form W-9, or (ii) if the Administrative Agent is not a “United States person” as defined 

  
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in Section 7701(a)(30) of the Code, a duly executed U.S. branch withholding certificate on Internal Revenue Service Form W-8IMY evidencing its agreement with the Borrowers to be treated as a
United States person with respect to payments under this Agreement and the Loan Documents. If a payment made to a Lender under any Loan Document would be subject to Tax imposed by FATCA if such Lender were to fail to comply with the applicable
reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b) of the Code, as applicable), such Lender shall deliver to the Company and the Administrative Agent at the time or times prescribed by law and at such time
or times reasonably requested by the Company or the Administrative Agent such documentation prescribed by applicable law (including as prescribed by Section 1471(b)(3)(C)(i) of the Code) and such additional documentation reasonably requested by
the Company or the Administrative Agent as may be necessary for the Borrowers and the Administrative Agent to comply with their obligations under FATCA and to determine that such Lender has complied with such Lenders’ obligations under FATCA or
to determine the amount to deduct and withhold from such payment. Solely for purposes of the foregoing sentence, “FATCA” shall include any amendments made to FATCA after the Closing Date. Notwithstanding any other provision of
this paragraph, a Non-U.S. Lender shall not be required to deliver any form pursuant to this paragraph that such Non-U.S. Lender is not legally able to deliver. 

(f)    A Lender (i) that is entitled to an exemption from or reduction of withholding tax with respect to payments under
this Agreement shall deliver to the Company (with a copy to the Administrative Agent),upon the reasonable request of the Company, such properly completed and executed documentation prescribed by applicable law as will permit such payments to be made
without withholding or at a reduced rate, or (ii) if requested by a Borrower or the Administrative Agent, shall deliver such other documentation prescribed by applicable Laws or reasonably requested by a Borrower or the Administrative Agent as will
enable the Borrowers or the Administrative Agent to determine whether or not such Lender is subject to backup withholding or information reporting requirements, and as will enable the Borrowers or the Administrative Agent to comply with their own
withholding or information reporting requirements (including pursuant to FATCA or any analogous provisions of non-U.S. law), provided that, in each case, such Lender is legally entitled to complete, execute and deliver such documentation and
in such Lender’s reasonable judgment such completion, execution or submission would not subject such Lender to any material unreimbursed cost or expense and would not materially prejudice the commercial or legal position of such Lender. 

(g)    If a Lender determines, in its sole discretion, that it has received a refund of Taxes as to which it has been
indemnified by any Borrower, or with respect to which such Borrower has paid additional amounts pursuant to this Section 2.20, it shall within 180 days from the date of its determination pay over the amount of such refund (but only to the
extent of indemnity payments made, or additional amounts paid, by such Borrower under this Section 2.20 with respect to the Non-Excluded Taxes or Other Taxes giving rise to such refund) to such Borrower, net of all reasonable out-of-pocket expenses
of such Lender (including any taxes imposed with respect to such refund) as determined by such Lender in good faith and in its sole discretion and without interest (other than interest paid by the relevant Governmental Authority with respect to such
refund); provided, however, that each Borrower, upon request of such Lender, agrees to repay as soon as reasonably practicable the amount paid over to such Borrower (plus applicable interest imposed by the relevant Governmental
Authority) to such Lender if such Lender is 

  
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required to repay such refund to such Governmental Authority. Notwithstanding anything to the contrary in this paragraph, in no event will such Lender or the Administrative Agent be required
to pay any amount to such Borrower pursuant to this paragraph the payment of which would place such Lender or the Administrative Agent in a less favorable net after-Tax position than such Lender or the Administrative Agent would have been in if the
Tax subject to indemnification and giving rise to such refund had not been deducted, withheld or otherwise imposed and the indemnification payments or additional amounts with respect to such Tax had never been paid. This paragraph shall not be
construed to require the Administrative Agent or any Lender to make available its tax returns to the Company or any other person. 

(h)    Each Lender that is a “U.S. Person” within the meaning of Section 7701(a)(30) of the Code shall
deliver to the Company and the Administrative Agent, on or before the date such Lender becomes a party to this Agreement, two accurate, complete and executed copies of Internal Revenue Service Form W-9 or any successor or other form prescribed by
the Internal Revenue Service. 
 Section 2.21.    Indemnity. The Borrower agrees to indemnify each Lender
for, and to hold each Lender harmless from, any loss (other than for lost profits) or expense that such Lender may sustain or incur as a consequence of (a) default by the Borrower in making a borrowing of, conversion into or continuation of
Eurocurrency Loans or Fixed Rate Loans after the Borrower has given a notice requesting the same in accordance with the provisions of this Agreement, (b) default by the Borrower in making any prepayment after the Borrower has given a notice thereof
in accordance with the provisions of this Agreement, (c) the making of a prepayment or conversion of Eurocurrency Loans or Fixed Rate Loans on a day that is not the last day of an Interest Period with respect thereto (including as a result of
acceleration) or (d) the assignment of any Eurocurrency Loan other than on the last day of an Interest Period therefor as a result of a request by the Company pursuant to Section 10.19(b). Such indemnification may include an amount equal to the
excess, if any, of (i) the amount of interest that would have accrued on the amount so prepaid, or not so borrowed, converted or continued, for the period from the date of such prepayment or of such failure to borrow, convert or continue to the last
day of such Interest Period (or, in the case of a failure to borrow, convert or continue, the Interest Period that would have commenced on the date of such failure) in each case at the applicable rate of interest for such Loans provided for herein
(excluding, however, the Applicable Margin included therein, if any) over (ii) the amount of interest (as reasonably determined by such Lender) that would have accrued to such Lender on such amount by placing such amount on deposit for a comparable
period with leading banks in the interbank Eurocurrency market. A certificate as to any amounts payable pursuant to this Section submitted to the Company by any Lender shall be conclusive in the absence of manifest error. This
covenant shall survive the termination of this Agreement and the payment of the Loans and all other amounts payable hereunder. 
 Section
2.22.    Illegality. (a) Notwithstanding any other provision herein, (x) if any Change in Law shall make it unlawful for any Lender to make or maintain (A) any Eurocurrency Loan or Alternative Currency Loan or
(B) any Loan to an Approved Borrower that is a Foreign Subsidiary, in each case as contemplated by this Agreement, as notified in writing by such Lender to the Administrative Agent and the Company or (y) there shall have occurred any change in
national or international financial, political or economic conditions (including the 

  
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imposition of or any change in exchange controls) or currency exchange rates which would make it impracticable for any Lender to make Loans denominated in such Alternative Currency or to any
Borrower, then, in each case, by written notice to the Company and to the Administrative Agent, such Lender may: 

(i)    declare that Eurocurrency Loans or Alternative Currency Loans (in the affected currency or
currencies or to the affected Borrower), as the case may be, will not thereafter (for the duration of such unlawfulness or impracticability) be made by such Lender hereunder, whereupon any request by a Borrower for a Eurocurrency Standby Borrowing,
Eurocurrency Term Borrowing or Alternative Currency Borrowing (in the affected currency or currencies or to the affected Borrower), as the case may be, shall, as to such Lender only, be deemed a request for a Base Rate Loan or a Loan denominated in
Dollars, as the case may be, unless such declaration shall be subsequently withdrawn (or, if a Loan to the requesting Borrower cannot be made for the reasons specified above, such request shall be deemed to have been withdrawn), provided
further that if such Lender is a Revolving Credit Lender, such Lender shall not submit a Competitive Bid in response to a request for such Alternative Currency Loans or Eurocurrency Competitive Loans; 

(ii)    require that all outstanding Eurocurrency Loans or Alternative Currency Loans (in the affected
currency or currencies or to the affected Borrower), as the case may be, made by it be converted to Base Rate Loans denominated in Dollars in which event all such Eurocurrency Loans or Alternative Currency Loans (in the affected currency or
currencies or to the affected Borrower) shall be automatically converted to Base Rate Loans denominated in Dollars as of the effective date of such notice as provided in paragraph (b) below; and 

(iii)    in the case of any Loan made to an Approved Borrower that is a Foreign Subsidiary, require that
(A) such Loan be prepaid on the last day of the Interest Period for such Loan occurring after the Administrative Agent has notified the Company or, if earlier, the date specified by such Lender in the notice delivered to the Administrative Agent
(being no earlier than the last day of any applicable grace period permitted by applicable law) and (B) such Borrower take all reasonable actions requested by such Lender to mitigate or avoid such illegality (it being agreed that if a Loan to such
requesting Borrower cannot be made for the reasons specified above, such request shall be deemed to have been withdrawn).
 In the event any
Lender shall exercise its rights under (i) or (ii) above, all payments and prepayments of principal which would otherwise have been applied to repay the Eurocurrency Loans or Alternative Currency Loans, as the case may be, that would have been made
by such Lender or the converted Eurocurrency Loans or Alternative Currency Loans, as the case may be, of such Lender shall instead be applied to repay the Base Rate Loans or Loans denominated in Dollars, as the case may be, made by such Lender in
lieu of, or resulting from the conversion of, such Eurocurrency Loans or Loans denominated in Dollars, as the case may be. In the event any Alternative Currency Loan is converted into a Loan denominated in Dollars pursuant to this Section, (A)
the principal amount of such Loan shall be deemed to be an amount equal to the Assigned Dollar Value of such Alternative Currency Loan determined based upon the applicable 

  
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Spot Exchange Rate as of the Denomination Date for the Borrowing which includes such Alternative Currency Loan and (B) the applicable Borrower shall indemnify the Lender of such converted
Alternative Currency Loan against any loss it sustains as a result of such conversion. 
 (b)    For purposes of this
Section 2.22, a notice to the Company by any Lender shall be effective as to each Eurocurrency Loan, if lawful, on the last day of the Interest Period currently applicable to such Eurocurrency Loan; in all other cases such notice shall be effective
on the date of receipt by the Company. 
 Section 2.23.    Change of Lending Office. Each Lender agrees
that, upon the occurrence of any event giving rise to the operation of Section 2.19 or 2.22 or requiring payment of additional amounts pursuant to Section 2.20 with respect to such Lender, it will, if requested by the Company, use reasonable efforts
(subject to overall policy considerations of such Lender) to designate another lending office for any Loans affected by such event with the object of avoiding the consequences of such event; provided, that such designation is made on terms
that, in the sole judgment of such Lender, cause such Lender and its lending office(s) to suffer no economic, legal or regulatory disadvantage, and provided, further, that nothing in this Section shall affect or postpone any of
the obligations of any Borrower or the rights of any Lender pursuant to Section 2.19, 2.20 or 2.22. 
 Section
2.24.    Incremental Credit Extensions. (a) The Company may at any time or from time to time after the Closing Date, by notice to the Administrative Agent (whereupon the Administrative Agent shall promptly deliver a
copy to each of the applicable Lenders), request (x) one or more increases in any existing tranche of Term Loans or one or more additional tranches of term loan commitments (the “Incremental Term Loan Commitments” and the loans made
thereunder, the “Incremental Term Loans” ) or (y) one or more increases in the amount of the Revolving Credit Commitments and/or additional tranches of Revolving Credit Commitments (each such increase or additional tranche, an
“Incremental Revolving Credit Commitment” and the Revolving Credit Loans made pursuant thereto, the “Incremental Revolving Credit Loans”), provided that (i) both at the time of any such request and after
giving effect to the effectiveness of any Incremental Amendment referred to below (including, in the case of any Incremental Term Loan, after giving effect thereto), no Event of Default (or in connection with any Limited Condition Transaction no
Event of Default under Article 8(a) or Article 8(f)) shall have occurred and be continuing, (ii) the aggregate principal amount of Incremental Term Loans and Incremental Revolving Credit Commitments that shall be incurred or that shall become
effective shall not exceed, together with any Indebtedness incurred pursuant to Section 7.02(y), the Incremental Cap Amount, (iii) the representations and warranties in Article 4 shall be true and correct in all material respects (except that any
representation and warranty that is qualified by materiality shall be true and correct in all respects) on and as of the effective date of such Incremental Term Loan or Incremental Revolving Credit Commitment (or, at the option of the Company, in
the case of Incremental Term Loans or Incremental Revolving Credit Commitments incurred to finance a Limited Condition Transaction, on the date on which the definitive agreement for such acquisition or investment is entered into) (except to the
extent such representations and warranties are specifically made as of a particular date, in which case such representations and warranties shall be true and correct in all material respects (except that any representation and warranty that is
qualified by materiality shall be true and correct in all respects) as of such date); (iv) each tranche of Incremental Term Loans shall be in an aggregate 

  
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principal amount that is not less than $50,000,000 and each Incremental Revolving Credit Commitment shall be in an aggregate principal amount that is not less than $5,000,000 provided
that, in each case, such amount may be less than such amount if (x) such amount represents all remaining availability under the limit set forth in clause (ii) above or (y) if otherwise agreed to by the Administrative Agent, (v) if an Incremental
Revolving Credit Commitment is requested, the Borrower shall have delivered to the Administrative Agent a certificate demonstrating in reasonable detail that after giving effect to the incurrence of such Incremental Revolving Credit Commitment
(assuming a full drawing thereof) and the use of proceeds thereof on a Pro Forma Basis the Company would be in compliance with the Financial Covenants recomputed as of the end of the most recently ended Test Period; (vi) the Borrower shall deliver
to the Administrative Agent (a) a certificate of each Loan Party dated as of the date of such increase signed by an authorized officer of such Loan Party certifying and attaching resolutions adopted by the board of directors or equivalent governing
body of such Loan Party approving such increase and (b) customary opinions of legal counsel to the Loan Parties, addressed to the Administrative Agent and each lender under the Incremental Term Loans or Incremental Revolving Credit Commitment, as
applicable, on the date thereof, dated as of the effective date of such increase and (vii) there shall be not more than two separate tranches of Revolving Credit Commitments and Incremental Revolving Credit Commitments in effect at any time,
excluding Incremental Revolving Credit Commitments with identical terms to the Initial Revolving Credit Commitments. 

(b)    (i) The Incremental Term Loans shall rank pari passu in right of payment and of security with the Revolving
Credit Loans and the Term Loans; (ii) the Incremental Term Loans shall not mature earlier than the Latest Maturity Date applicable to any Term Loan then outstanding; (iii) the Incremental Term Loans shall not have a weighted average life to maturity
shorter than the weighted average life to maturity of the existing Term Loans; (iv) the Incremental Term Loans shall be treated on a pro rata or less than pro rata basis in any mandatory and voluntary prepayments of the existing Term Loans; (v) if
the Effective Yield for the Incremental Term Loans as of the date of incurrence of such Incremental Term Loans exceeds the sum of the Effective Yield then applicable to the Initial Term Loans and 0.50% (the amount of such excess being referred to
herein as the “Term Loan Yield Differential”), then the Applicable Margin then in effect for such Initial Term Loans shall automatically be increased by the Term Loan Yield Differential, effective upon the making of the Incremental
Term Loans, provided that any differential in Effective Yield on account of a differential in interest rate floors shall be required only to the extent an increase in the interest rate floor applicable to such Initial Term Loans would cause
an increase in the interest rate then in effect thereunder, and in such case the interest rate floor (but not the interest rate margin) applicable to such Initial Term Loans shall be increased to the extent of such differential between interest rate
floors; and (vi) except as otherwise specified in this Section 2.24, the terms and conditions applicable to Incremental Term Loans shall be on substantially the same terms and conditions (taken as a whole) as the existing Term Loans, other than
(x) maturity date, pricing, (including interest rate floors, interest rate margin, original issue discount, upfront fees and call protection) and amortization, (y) immaterial terms and (z) terms and conditions that are either only applicable after
the Latest Maturity Date of any existing Term Loans or, to the extent such terms (taken as a whole) are more favorable to the lenders providing such Incremental Term Loans than those applicable to the existing Term Loans, are added for the benefit
of the Lenders of the existing Term Loans pursuant to an amendment to this Agreement executed by the Company and the Administrative Agent. 

  
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 (c)    Incremental Revolving Credit Commitments consisting of an additional
tranche of revolving loans and commitments shall be on the same terms and conditions as the Initial Revolving Credit Commitments (other than (x) maturity date and pricing, (including interest rate floors, interest rate margin, original issue
discount, upfront fees and call protection), (y) immaterial terms and (z) terms and conditions that are either only applicable after the Latest Maturity Date of any existing Revolving Credit Loans or, to the extent such terms are more favorable to
the lenders providing such Incremental Revolving Credit Commitments than those applicable to the existing Revolving Credit Commitments, are added for the benefit of the Lenders of the existing Revolving Credit Loans pursuant to an amendment to this
Agreement executed by the Company and the Administrative Agent); provided that no Incremental Revolving Credit Commitment shall have a final maturity date earlier than the then existing Latest Maturity Date with respect to Revolving Credit
Commitments. 
 (d)    Each notice from the Company pursuant to this Section 2.24 shall set forth the requested amount
and proposed terms of the relevant Incremental Term Loans or Incremental Revolving Credit Commitments. Incremental Term Loans may be made, and Incremental Revolving Credit Commitments may be provided, by any existing Lender or by any Additional
Lender, provided that the Administrative Agent and, with respect to Incremental Revolving Credit Commitments, each Issuing Lender shall have consented (such consent not to be unreasonably withheld, delayed or conditioned) to such
Lender’s or Additional Lender’s making such Incremental Term Loans or providing such Incremental Revolving Credit Commitments if such consent would be required under Section 10.06 for an assignment of Loans or Commitments, as applicable,
to such Lender or Additional Lender. 
 (e)    The Incremental Term Loan Commitments and Incremental Revolving Credit
Commitments shall become Commitments (or in the case of an Incremental Revolving Credit Commitment to be provided by an existing Lender with a Revolving Credit Commitment, an increase in such Lender’s applicable Revolving Credit Commitment or
the provision of a new Incremental Revolving Credit Commitment) under this Agreement pursuant to an amendment (an “Incremental Amendment”) to this Agreement and, as appropriate, the other Loan Documents, executed (in the case of
such amendment to this Agreement) by the Company, each Lender agreeing to provide such Commitment, if any, each Additional Lender, if any, and the Administrative Agent. 

(f)    Any Incremental Amendment may, without the consent of any other Lenders, effect such amendments to this Agreement
and the other Loan Documents as may be necessary or appropriate, in the reasonable opinion of the Administrative Agent and the Company, to effect the provisions of this Section. The effectiveness of any Incremental Amendment shall be subject to
the satisfaction on the date thereof of each of the conditions set forth in Section 2.24(a), of the payment of any fees payable in connection therewith and such other conditions as the parties thereto shall agree. The Borrowers may use the
proceeds of the Incremental Term Loans and Incremental Revolving Credit Commitments for any purpose not prohibited by this Agreement. No Lender shall be obligated to provide any Incremental Term Loans or Incremental Revolving Credit
Commitments, unless it affirmatively agrees in its sole discretion. 
 (g)    To the extent that the Incremental
Revolving Credit Commitments requested pursuant to this Section 2.24 consist of increases in the existing Revolving Credit Commitments, 

  
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(i) each Lender with a Revolving Credit Commitment immediately prior to such increase will automatically and without further act be deemed to have assigned to each Lender providing a portion of
the Incremental Revolving Credit Commitment (each a “Incremental Revolving Credit Commitment Lender”) in respect of such increase, and each such Incremental Revolving Credit Commitment Lender will automatically and without further
act be deemed to have assumed, a portion of such Lender’s participations hereunder in outstanding Letters of Credit such that, after giving effect to each such deemed assignment and assumption of participations, the percentage of the aggregate
outstanding participations hereunder in Letters of Credit held by each Lender with a Revolving Credit Commitment (including each such Incremental Revolving Credit Commitment Lender) will equal the percentage of the aggregate Revolving Credit
Commitments of all Lenders with Revolving Credit Commitments represented by such Lender’s Revolving Credit Commitment and (ii) if, on the date of such increase, there are any Revolving Credit Loans outstanding, such Revolving Credit Loans shall
on or prior to the effectiveness of such Incremental Revolving Credit Commitment be prepaid from the proceeds of additional Revolving Credit Loans made hereunder (reflecting such increase in Revolving Credit Commitments), which prepayment shall be
accompanied by accrued interest on the Revolving Credit Loans being prepaid and any costs incurred by any Lender in accordance with Section 2.21. The Administrative Agent and the Lenders hereby agree that the minimum borrowing, pro rata
borrowing and pro rata payment requirements contained elsewhere in this Agreement shall not apply to the transactions effected pursuant to the immediately preceding sentence. 

(h)    Notwithstanding anything to the contrary in this Agreement, this Section 2.24 shall supersede any provisions in
Sections 2.18 or 10.01 to the contrary and the Borrower and the Administrative Agent may amend Section 2.18 solely to the extent necessary to give effect to the permitted terms and conditions of any Incremental Amendment. 

Section 2.25.    Approved Borrowers. 

(a)    The Company may, at any time or from time to time, upon not less than ten Business Days’ notice to the
Administrative Agent and subject to the consent of the Majority Revolving Credit Facility Lenders, designate one or more wholly owned Restricted Subsidiaries as Borrowers hereunder in respect of the Revolving Credit Facility by furnishing to the
Administrative Agent a letter (a “Designation Letter”) substantially in the form of Exhibit H hereto, duly completed and executed by the Company and such Restricted Subsidiary. As soon as practicable upon receipt of any such
Designation Letter, the Administrative Agent shall send a copy thereof to each Revolving Credit Lender. Any Restricted Subsidiary so designated shall become an Approved Borrower if consented to by the Majority Revolving Credit Facility Lenders.
There may be no more than ten Approved Borrowers at any one time. So long as all principal and interest on all Loans of any Approved Borrower have been paid in full, the Company may terminate an Approved Borrower’s status as an Approved
Borrower by furnishing to the Administrative Agent a letter (a “Termination Letter”), substantially in the form of Exhibit K hereto, duly completed and executed by the Company and such Approved Borrower. Any Termination Letter
furnished in accordance with this Section 2.25 shall be effective upon receipt by the Administrative Agent. Notwithstanding the foregoing, the delivery of a Termination Letter with respect to any Approved Borrower shall not affect any obligation of
such Approved Borrower theretofore incurred. Each Restricted Subsidiary set forth in 

  
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Schedule 2.25 hereto shall be deemed an Approved Borrower until delivery of a Termination Letter with respect to such Subsidiary. Notwithstanding any other provision herein, no
Revolving Credit Lender shall be required to make any Revolving Credit Loan to an Approved Borrower if (i) any applicable law or regulation shall make it unlawful for any such Lender to make or maintain any such Loan, (ii) such Lender lacks any
required license or other governmental or regulatory authorization in the applicable jurisdiction or (iii) doing so, would cause administrative or operational issues for such Lender or would result in such Lender incurring additional costs and
expenses (including taxes)(such Revolving Credit Lender, a “Protesting Lender”). 
 (b)    As soon as
practicable after receiving notice from the Company or the Administrative Agent of the Company’s intent to designate a Restricted Subsidiary as a Borrower, and in any event no later than five Business Days after the delivery of such notice, if
such Restricted Subsidiary is organized under the laws of a jurisdiction other than of the United States or a political subdivision thereof, any Lender that is a Protesting Lender shall so notify the Company and the Administrative Agent in
writing. With respect to each Protesting Lender, the Company shall, effective on or before the date that such Restricted Subsidiary shall have the right to borrow hereunder, either (A) notify the Administrative Agent and such Protesting Lender
that the Commitments of such Protesting Lender shall be terminated, transferred and assigned pursuant to Section 10.19(b), or (B) cancel its request to designate such Restricted Subsidiary as an “Approved Borrower” hereunder. 

Section 2.26.    Cash Collateral. At any time that there shall exist a Defaulting Lender, within three
Business Days following the written request of the Administrative Agent or any Issuing Lender the Company shall Cash Collateralize the Issuing Lenders’ Fronting Exposure with respect to such Defaulting Lender (determined after giving effect to
Section 2.27(a)(iv) and any Cash Collateral provided by such Defaulting Lender) in an amount satisfactory to each Issuing Lender (but in no event greater than the applicable Fronting Exposure). 

(a)    Grant of Security Interest. The Company, and to the extent provided by any Defaulting Lender, such
Defaulting Lender, hereby grants to the Collateral Agent, for the benefit of the Issuing Lenders, and agrees to maintain, a first priority security interest in all such Cash Collateral as security for the Defaulting Lenders’ obligation to fund
participations in respect of L/C Obligations, to be applied pursuant to clause (b) below. 

(b)    Application. Notwithstanding anything to the contrary contained in this Agreement or any other Loan
Document, Cash Collateral provided under this Section 2.26 or Section 2.27 in respect of Letters of Credit shall be applied to the satisfaction of the Defaulting Lender’s obligation to fund participations in respect of L/C Obligations
(including, as to Cash Collateral provided by a Defaulting Lender, any interest accrued on such obligation) for which the Cash Collateral was so provided, prior to any other application of such property as may otherwise be provided for herein or in
any other Loan Document. 
 (c)    Termination of Requirement. Cash Collateral (or the appropriate portion
thereof) provided to reduce any Issuing Lender’s Fronting Exposure shall no longer be required to be held as Cash Collateral pursuant to this Section 2.26 and shall promptly be returned to the Person providing such Cash Collateral following (i)
the elimination of the applicable Fronting Exposure (including by the termination of Defaulting Lender status of the applicable Lender), or (ii) the 

  
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determination by the Administrative Agent and each Issuing Lender that there exists excess Cash Collateral; provided that, subject to Section 2.27, the Person providing Cash Collateral and
each Issuing Lender may agree that Cash Collateral shall be held to support future anticipated Fronting Exposure or other obligations; and provided, further that to the extent that such Cash Collateral was provided by the Company, such
Cash Collateral shall remain subject to the security interest granted pursuant to the Loan Documents. 
 Section
2.27.    Defaulting Lenders. 
 (a)    Defaulting Lender
Adjustments. Notwithstanding anything to the contrary contained in this Agreement, if any Lender becomes a Defaulting Lender, then, until such time as such Lender is no longer a Defaulting Lender, to the extent permitted by applicable law:

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

(ii)    Defaulting Lender Waterfall. Any payment of principal, interest, fees or other amounts
received by the Administrative Agent or the Collateral Agent for the account of such Defaulting Lender (whether voluntary or mandatory, at maturity, pursuant to Article 8 or otherwise) or received by the Administrative Agent or the Collateral Agent
from a Defaulting Lender pursuant to Section 10.07(b) shall be applied at such time or times as may be determined by the Administrative Agent as follows: first, to the payment of any amounts owing by such Defaulting Lender to the
Administrative Agent and the Collateral Agent hereunder; second, to the payment on a pro rata basis of any amounts owing by such Defaulting Lender to any Issuing Lender hereunder; third, to Cash Collateralize the Issuing Lenders’
Fronting Exposure with respect to such Defaulting Lender in accordance with Section 2.26; fourth, as the Company may request (so long as no Default or Event of Default exists), to the funding of any Loan in respect of which such Defaulting
Lender has failed to fund its portion thereof as required by this Agreement, as determined by the Administrative Agent; fifth, if so determined by the Administrative Agent and the Company, to be held in a deposit account and released pro rata to (x)
satisfy such Defaulting Lender’s potential future funding obligations with respect to Loans under this Agreement and (y) Cash Collateralize the Issuing Lenders’ future Fronting Exposure with respect to such Defaulting Lender with respect
to future Letters of Credit issued under this Agreement, in accordance with Section 2.26; sixth, to the payment of any amounts owing to the Lenders or the Issuing Lenders as a result of any judgment of a court of competent jurisdiction obtained by
any Lender or Issuing Lender against such Defaulting Lender as a result of such Defaulting Lender’s breach of its obligations under this Agreement; seventh, so long as no Default or Event of Default exists, to the payment of any amounts owing
to the Company as a result of any judgment of a court of competent jurisdiction obtained by the Company against such Defaulting Lender as a result of such Defaulting Lender’s breach of its obligations under this Agreement; and eighth, to such
Defaulting Lender or as otherwise directed by a court of competent jurisdiction; provided that if (x) such payment is a payment of the principal amount of any Loans or L/C Disbursements in respect of which such Defaulting Lender has not fully
funded its appropriate share, and (y) such Loans were made or the related 

  
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Letters of Credit were issued at a time when the conditions set forth in Section 5.03 were satisfied or waived, such payment shall be applied solely to pay the Loans of, and L/C Disbursements
owed to, all Non-Defaulting Lenders on a pro rata basis prior to being applied to the payment of any Loans of, or L/C Disbursements owed to, such Defaulting Lender until such time as all Loans and funded and unfunded participations in L/C
Obligations are held by the Lenders pro rata in accordance with the Revolving Credit Percentages under the applicable Facility without giving effect to Section 2.27(a)(iv). Any payments, prepayments or other amounts paid or payable to a
Defaulting Lender that are applied (or held) to pay amounts owed by a Defaulting Lender or to post Cash Collateral pursuant to this Section 2.27(a)(iii) shall be deemed paid to and redirected by such Defaulting Lender, and each Lender irrevocably
consents hereto. 
 (iii)    Certain Fees. (A) No Defaulting Lender shall be entitled to
receive any Commitment Fee for any period during which that Lender is a Defaulting Lender (and no Borrower shall be required to pay any such fee that otherwise would have been required to have been paid to that Defaulting Lender). 

(B)    Each Defaulting Lender shall be entitled to receive L/C Fees for any period during which that Lender
is a Defaulting Lender only to the extent allocable to its Revolving Credit Percentage of the stated amount of Letters of Credit for which it has provided Cash Collateral pursuant to Section 2.26. 

(C)    With respect to any Commitment Fee or L/C Fee not required to be paid to any Defaulting Lender
pursuant to clause (A) or (B) above, the Company or the relevant Borrower shall (x) pay to each Non-Defaulting Lender that portion of any such fee otherwise payable to such Defaulting Lender with respect to such Defaulting Lender’s
participation in L/C Obligations that has been reallocated to such Non-Defaulting Lender pursuant to Section 2.27(a)(iv), (y) pay to each Issuing Lender the amount of any such fee otherwise payable to such Defaulting Lender to the extent allocable
to such Issuing Lender’s Fronting Exposure to such Defaulting Lender, and (z) not be required to pay the remaining amount of any such fee. 

(iv)    Reallocation of Participations to Reduce Fronting Exposure. All or any part of such
Defaulting Lender’s participation in L/C Obligations shall be reallocated among the Non-Defaulting Lenders in accordance with their respective Revolving Credit Percentages (calculated without regard to such Defaulting Lender’s Commitment)
but only to the extent that (x) the conditions set forth in Section 5.03 are satisfied at the time of such reallocation (and, unless the Company shall have otherwise notified the Administrative Agent at such time, the Company shall be deemed to have
represented and warranted that such conditions are satisfied at such time), and (y) such reallocation does not cause the aggregate Revolving Extensions of Credit of any Non-Defaulting Lender to exceed such Non-Defaulting Lender’s Revolving
Credit Commitment. Subject to Section 10.27, no reallocation hereunder shall constitute a waiver or release of any claim of any party hereunder against a Defaulting Lender arising from that Lender having become a Defaulting Lender, including
any claim of a Non-Defaulting Lender as a result of such Non-Defaulting Lender’s increased exposure following such reallocation. 

  
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 (v)    Cash Collateral. If the reallocation
described in Section 2.27(a)(iv) cannot, or can only partially, be effected, the Company shall, without prejudice to any right or remedy available to it hereunder or under law, Cash Collateralize the Issuing Lenders’ Fronting Exposure in
accordance with the procedures set forth in Section 2.26. 
 (b)    Defaulting Lender Cure. If the Company,
the Administrative Agent and each Issuing Lender agree in writing that a Lender is no longer a Defaulting Lender, the Administrative Agent will so notify the parties hereto, whereupon as of the effective date specified in such notice and subject to
any conditions set forth therein (which may include arrangements with respect to any Cash Collateral), that Lender will, to the extent applicable, purchase at par that portion of outstanding Loans of the other Lenders or take such other actions as
the Administrative Agent may determine to be necessary to cause the Loans and funded and unfunded participations in Letters of Credit to be held pro rata by the Lenders in accordance with the Commitments under the applicable Facility (without giving
effect to Section 2.27(a)(iv)), whereupon such Lender will cease to be a Defaulting Lender; provided that no adjustments will be made retroactively with respect to fees accrued or payments made by or on behalf of any Borrower while that
Lender was a Defaulting Lender; and provided, further, that except to the extent otherwise expressly agreed by the affected parties, no change hereunder from Defaulting Lender to Lender will constitute a waiver or release of any claim
of any party hereunder arising from that Lender having been a Defaulting Lender. 
 (c)    New Letters of
Credit. So long as any Lender is a Defaulting Lender, no Issuing Lender shall be required to issue, extend, renew or increase any Letter of Credit unless it is satisfied that it will have no Fronting Exposure after giving effect thereto.

 Section 2.28.    Additional Costs. 

(a)    If and so long as any Revolving Credit Lender is required to comply with reserve assets, liquidity, cash margin or
other requirements of any monetary or other authority or regulation (including any such requirement imposed by the European Central Bank or the European System of Central Banks, but excluding requirements reflected in the Statutory Reserve Rate) in
respect of any of such Lender’s Eurocurrency Loans in any Alternative Currency, such Lender may require the relevant Borrower to pay, contemporaneously with each payment of interest on each of such Lender’s Eurocurrency Loans subject to
such requirements, additional interest on such Loan at a rate per annum specified by such Lender to be the cost to such Lender of complying with such requirements in relation to such Loan. 

(b)    Any additional interest owed pursuant to paragraph (a) above shall be determined by the relevant Lender, which
determination shall be conclusive absent manifest error, and notified to the relevant Borrower (with a copy to the Administrative Agent) at least five Business Days before each date on which interest is payable for the relevant Loan, and such
additional interest so notified to the relevant Borrower by such Lender shall be payable to the Administrative Agent for the account of such Lender on each date on which interest is payable for such Loan. 

(c)    If the cost to any Revolving Credit Lender of making or maintaining any Revolving Credit Loan to any Borrower is
increased (or the amount of any sum received or receivable by 

  
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any Lender (or its applicable lending office) is reduced) by an amount deemed in good faith by such Lender to be material, by reason of the fact that such Borrower is incorporated in, or conducts
business in, a jurisdiction outside the United States of America, such Borrower shall indemnify such Lender for such increased cost or reduction within 15 days after demand by such Lender (with a copy to the Administrative Agent). A certificate
of such Lender claiming compensation under this paragraph and setting forth the additional amount or amounts to be paid to it hereunder (and the basis for the calculation of such amount or amounts) shall be conclusive in the absence of manifest
error. This Section 2.28(c) shall not apply with respect to Taxes. 
 Section 2.29.    Extension of
Loans. 
 (a)    The Company may, on one or more occasions, by written notice to the Administrative Agent, make one
or more offers (each, a “Loan Extension Offer”) to all the Lenders of one or more Classes on the same terms to each such Lender (each Class subject to such a Loan Extension Offer, a “Specified Class”) to make one or
more amendments (a “Loan Extension Amendment”) pursuant to procedures reasonably specified by the Administrative Agent and reasonably acceptable to the Company; provided that (i) any such offer shall be made by the Company to
all Lenders with Loans of the Specified Class with a like maturity date (whether under one or more tranches) on a pro rata basis (based on the aggregate outstanding principal amount of the applicable Loans and Commitments), (ii) no Default or Event
of Default shall have occurred and be continuing at the time of any such offer, (iii) any applicable Minimum Extension Condition shall be satisfied unless waived by the Company and (iv) in the case of any Loan Extension Amendment relating to the
Revolving Credit Commitments, each Issuing Lender shall have approved such Loan Extension Amendment. Such notice shall set forth (x) the terms and conditions of the requested Loan Extension Amendment and (y) the date on which such Loan
Extension Amendment is requested to become effective (which shall not be less than five Business Days after the date of such notice, unless otherwise reasonably agreed to by the Administrative Agent). Loan Extension Amendments shall become
effective only with respect to the Loans and Commitments of the Lenders of the Specified Class that accept the applicable Loan Extension Offer (such Lenders, the “Accepting Lenders”) and, in the case of any Accepting Lender, only
with respect to such Lender’s Loans and Commitments of such Specified Class as to which such Lender’s acceptance has been made. No Lender shall be deemed to have accepted any Loan Extension Offer unless it shall have affirmatively
done so, it being further understood that no Lender shall have any obligation to accept any Loan Extension Offer. 

(b)    A Loan Extension Amendment shall be effected pursuant to an amendment to this Agreement (a “Loan Extension
Agreement”) executed and delivered by the Borrowers, each applicable Accepting Lender and the Administrative Agent. The Administrative Agent shall promptly notify each Lender as to the effectiveness of each Loan Extension
Agreement. Each Loan Extension Agreement may, without the consent of any Lender other than the applicable Accepting Lenders, effect such amendments to this Agreement and the other Loan Documents as may be necessary or appropriate, in the
opinion of the Administrative Agent and the Borrowers, to give effect to the provisions of this Section 2.29, including any amendments necessary to treat the applicable Loans and/or Commitments of the Accepting Lenders as a new
“Class” of Loans and/or Commitments hereunder; provided that (i) no Loan Extension Agreement may provide for any Specified Class to be secured by any Collateral or other assets of any Loan Party that does

  
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not also secure the Obligations and (ii) any such Extended Term Loans or Extended Revolving Credit Loans (or Extended Revolving Credit Commitments) may participate on a pro rata basis or a less
than pro rata basis (but not greater than pro rata basis) with the other Loans and Commitments hereunder; provided, further, that in the case of any Loan Extension Offer relating to Revolving Credit Commitments or Revolving Credit
Loans, except as otherwise agreed to by each Issuing Lender, (x) the allocation of the participation exposure with respect to any then existing or subsequently issued Letter of Credit as between the commitments of such new “Class” and the
remaining Revolving Credit Commitments shall be made on a ratable basis as between the commitments of such new “Class” and the remaining Revolving Credit Commitments in a manner substantially consistent with Section 2.30(b) and otherwise
satisfactory to each Issuing Lender; provided, that if so provided in the relevant Loan Extension Agreement and with the consent of each Issuing Lender, participations in Letters of Credit expiring on or after the maturity date applicable to
the remaining Revolving Credit Commitments shall at the time of the maturity date thereof, be reallocated to Lenders holding Extended Revolving Credit Loans or Extended Revolving Credit Commitments (but only to the extent of any unused capacity
under such Extended Revolving Credit Commitments) and (y) the maturity date for any Revolving Credit Loan may not be extended without the prior written consent of each Issuing Lender. 

(c)    A Loan Extension Agreement may (i) permit all or any of the scheduled amortization payments of principal of Loans
of any Specified Class to be delayed to later dates than the scheduled amortization payments of principal of the existing Loans, to the extent provided in the applicable Loan Extension Agreement, provided however, that at no time shall
there be Classes of Loans hereunder (including Loans modified pursuant to this Section 2.29 and any refinancing loans under Section 2.30) which have more than five (5) different maturity dates; (ii) permit the Effective Yield with respect to such
Specified Class of Loans (whether in the form of interest rate margin, upfront fees, original issue discount or otherwise) to be different than the Effective Yield for existing Loans, in each case, to the extent provided in the applicable Loan
Extension Agreement; (iii) provide for other covenants and terms that apply solely to any period after the Latest Maturity Date that is in effect on the effective date of the Loan Extension Agreement (immediately prior to the establishment of such
Specified Class of Loans); and (iv)provide for any Specified Class of Loans may have call protection as may be agreed by the Borrower and the Lenders thereof; provided that no such Loans may be optionally prepaid (or commitments in respect
thereof permanently reduced) prior to the date on which all Loans and/or Commitments with an earlier final stated maturity (including existing Loans and Commitments from which they were modified pursuant to a Loan Extension Agreement) are repaid in
full, unless such optional prepayment or commitment reduction is accompanied by a pro rata optional prepayment of such earlier maturing Loans and/or Commitments. 

(d)    Subject to Section 2.29(b), the Borrower may at its election specify as a condition (a “Minimum Extension
Condition”) to consummating any such Loan Extension Agreement that a minimum amount (to be determined and specified in the relevant Loan Extension Offer in the Borrower’s sole discretion, subject to waiver by the Borrower) of Loans of
any or all applicable Classes be extended. 
 (e)    Notwithstanding anything to the contrary in this Agreement, this
Section 2.29 shall supersede any provisions in Sections 2.18 or 10.01 to the contrary and the Borrower and the Administrative Agent may amend Section 2.18 solely to the extent necessary to implement any Loan Extension Amendment. 

  
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 Section 2.30.    Refinancing Amendments. 

(a)    At any time after the Closing Date, the Borrowers may obtain, from any Lender or Additional Lender, Credit Agreement
Refinancing Debt in respect of (x) all or any portion of the Term Loans then outstanding under this Agreement and/or (y) all or any portion of the Revolving Credit Loans then outstanding under this Agreement or any existing Class of Revolving Credit
Commitments, in the form of Other Term Loans or Other Term Commitments and/or Other Revolving Credit Loans or Other Revolving Credit Commitments, respectively, as the case may be, in each case pursuant to a Refinancing Amendment (except with respect
to Credit Agreement Refinancing Debt in the form of notes); provided that such Credit Agreement Refinancing Debt: 

(i)    may be (x) secured and rank pari passu in right of payment with the other Loans and
Commitments hereunder, (y) secured on a junior basis with the other Loans and Commitment hereunder, in each case of (x) and (y), subject to entry into a Customary Intercreditor Agreement or (z) unsecured; 

(ii)    will have such pricing, premiums and optional prepayment and redemption terms as may be agreed by
the Borrower and the Lenders thereof; 
 (iii)    will not, (A) have scheduled repayment, amortization,
mandatory prepayment provisions (except in the case of other Revolving Credit Commitments, for customary mandatory prepayment provisions in the event that usage exceeds commitments) or sinking fund obligations (other than “AHYDO”
catch-up payments and those related to customary asset sale, casualty events and change of control provisions) that could result in prepayment of such Indebtedness prior to the Latest Maturity Date then in effect and (B) in the case of Credit
Agreement Refinancing Debt in the form of Other Revolving Credit Commitments, have scheduled or mandatory commitment reductions prior to the Latest Maturity Date with respect to the Revolving Credit Commitments being so refinanced; 

(iv)    subject to clause (ii) above, the parenthetical at the end of this clause (iv) and the proviso
immediately following clause (vi) below, will have terms and conditions that are either substantially identical to, or, taken as a whole, less favorable to the Lenders or Additional Lenders providing such Credit Agreement Refinancing Debt than, the
Refinanced Credit Agreement Debt (other than immaterial terms and terms and conditions to the extent that such terms are more favorable to the Lenders or Additional Lenders providing such Credit Agreement Refinancing Debt than those applicable to
the Refinanced Credit Agreement Debt that are added for the benefit of the Lenders pursuant to an amendment to this Agreement executed by the Company and the Administrative Agent); 

(v)    (A) the proceeds of such Credit Agreement Refinancing Debt shall be applied, substantially
concurrently with the incurrence thereof, to the prepayment of 

  
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outstanding Loans being so refinanced plus accrued interest and premium, make-whole or penalty payments applicable thereto and any fees and expenses (including upfront fees and original
issue discount) in connection with such Credit Agreement Refinancing Debt and (B) with respect to any Credit Agreement Refinancing Debt comprising Other Revolving Credit Commitments, the commitments of the Revolving Credit Facility being so
refinanced shall be automatically and permanently terminated immediately upon effectiveness of such Other Revolving Credit Commitments; and 

(vi)    to the extent that such Other Term Loans and Other Revolving Credit Commitments are secured by
liens on the Collateral and rank pari passu in right of payment with the other Loans and Commitments hereunder, such Other Term Loans and Other Revolving Credit Commitments may participate on a pro rata basis or a less than pro rata basis
(but not greater than pro rata basis) with the other Loans and Commitments hereunder; 
 provided, further, that the terms and conditions
applicable to such Credit Agreement Refinancing Debt may provide for any additional or different financial or other covenants or other provisions that are agreed between the Borrowers and the lenders or holders thereof and applicable only during
periods after the Latest Maturity Date that is in effect on the date such Credit Agreement Refinancing Debt is issued, incurred or obtained. To the extent effected pursuant to a Refinancing Amendment, the effectiveness of any Refinancing
Amendment shall be subject to the satisfaction on the date thereof of each of the conditions set forth in Section 5.03 and, to the extent reasonably requested by the Administrative Agent, receipt by the Administrative Agent of legal opinions, board
resolutions, officers’ certificates and/or reaffirmation agreements consistent with those delivered on the Closing Date under Section 5.01 (other than changes to such legal opinions resulting from a change in law, change in fact or change
to counsel’s form of opinion reasonably satisfactory to the Administrative Agent). 
 (b)    Each Class of Credit
Agreement Refinancing Debt incurred under this Section 2.30 shall be in an aggregate principal amount that is either (i) sufficient to refinance the entire outstanding amount of the applicable Class of Loans and/or Commitments being refinanced
pursuant to this Section 2.30 or (ii) not less than (x) $50,000,000 in the case of a refinancing of Term Loans and (y) $25,000,000 in the case of a refinancing of Revolving Credit Commitments or Other Revolving Credit Commitments. Any
Refinancing Amendment may provide for the issuance of Letters of Credit for the account of the Borrower, pursuant to any Other Revolving Credit Commitments established thereby, in each case on terms substantially equivalent to the terms applicable
to Letters of Credit under the Revolving Credit Commitments as of the Closing Date. In addition, if so provided in the relevant Refinancing Amendment and with the consent of each Issuing Lender, participations in Letters of Credit expiring on
or after the maturity date applicable to the Revolving Credit Facility shall be reallocated from Lenders holding Initial Revolving Credit Commitments to Lenders holding extended revolving commitments in accordance with the terms of such Refinancing
Amendment; provided, however, that such participation interests shall, upon receipt thereof by the relevant Lenders holding Revolving Credit Commitments, be deemed to be participation interests in respect of such Revolving Credit
Commitments and the terms of such participation interests (including, without limitation, the commission applicable thereto) shall be adjusted accordingly. 

  
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 (c)    Notwithstanding anything to the contrary in this Section 2.30 or
otherwise, (i) the borrowing and repayment (except for (A) payments of interest and fees at different rates on Other Revolving Credit Commitments (and related outstandings), (B) repayments required upon the maturity date of the Other Revolving
Credit Commitments and (C) repayment made in connection with a permanent repayment and termination of commitments (subject to clause (iii) below)) of Loans with respect to Other Revolving Credit Commitments after the date of obtaining any Other
Revolving Credit Commitments shall be made on a pro rata basis with all other Revolving Credit Commitments, (ii) in respect of Letters of Credit which mature or expire after a maturity date when there exist Other Revolving Credit Commitments with a
longer maturity date, all Letters of Credit shall be participated on a pro rata basis by all Revolving Credit Lenders with Revolving Credit Commitments in accordance with their percentage of the Revolving Credit Commitments, (iii) the permanent
repayment of Revolving Credit Loans with respect to, and termination of, Other Revolving Credit Commitments after the date of obtaining any Other Revolving Credit Commitments shall be made on a pro rata basis with all other Revolving Credit
Commitments, except that the Borrowers shall be permitted to permanently repay and terminate commitments of any such Class on a better than a pro rata basis as compared to any other Class with a later maturity date than such Class and (iv)
assignments and participations of Other Revolving Credit Commitments and Other Revolving Credit Loans shall be governed by the same assignment and participation provisions applicable to Revolving Credit Commitments and Revolving Credit Loans. 

(d)    The Administrative Agent shall promptly notify each Lender as to the effectiveness of each Refinancing
Amendment. Each of the parties hereto hereby agrees that, upon the effectiveness of any Refinancing Amendment, this Agreement shall be deemed amended to the extent (but only to the extent) necessary to reflect the existence and terms of the
Credit Agreement Refinancing Debt incurred pursuant thereto (including any amendments necessary to treat the Loans and Commitments subject thereto as Other Term Loans, Other Term Commitments, Other Revolving Credit Loans and/or Other Revolving
Credit Commitments). 
 (e)    Any Refinancing Amendment may, without the consent of any other Lenders, effect such
amendments to this Agreement, any intercreditor agreement (or to effect a replacement of any intercreditor agreement or put in place a Customary Intercreditor Agreement, as applicable) and the other Loan Documents as may be necessary or appropriate,
in the reasonable opinion of the Administrative Agent and the Borrowers, to effect the provisions of this Section 2.30. 

(f)    Notwithstanding anything to the contrary in this Agreement, this Section 2.30 shall supersede any provisions in
Sections 2.18 or 10.01 to the contrary and the Borrower and the Administrative Agent may amend Section 2.18 solely to the extent necessary to give effect to the permitted terms and conditions of any Refinancing Amendment. 

ARTICLE 3 
 LETTERS
OF CREDIT 
 Section 3.01.    L/C Commitment. (a) Subject to the terms and
conditions hereof, each Issuing Lender, in reliance on the agreements of the other Revolving Credit Lenders set forth in Section 3.04(a), agrees to issue letters of credit for the account of the Borrowers on any Business

  
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Day, during the period from and including the Closing Date to the earlier of (v) the date that is 30 days prior to the Revolving Credit Termination Date and (w) the termination of the Revolving
Credit Commitments in accordance with the terms hereof, in such form as may be approved from time to time by such Issuing Lender; provided, that no Issuing Lender shall have any obligation to issue any Letter of Credit if, immediately after
giving effect to such issuance, (i) the L/C Obligations would exceed the L/C Commitment, (ii) the aggregate amount of the Available Revolving Credit Commitments would be less than zero, (iii) the Revolving Extensions of Credit of any Lender would
exceed such Lender’s Revolving Credit Commitment or (iv) the L/C Obligations in respect of all Letters of Credit issued by such Issuing Lender would exceed such Issuing Lender’s Fronting Cap. Each Letter of Credit shall (i) be
denominated in Dollars and (ii) expire no later than the earlier of (x) the first anniversary of its date of issuance and (y) the date which is five Business Days prior to the Revolving Credit Termination Date; provided that any Letter of
Credit with a one-year term may provide for the renewal thereof for additional one-year periods (which shall in no event extend beyond the date referred to in clause (y) above). Unless otherwise agreed by the applicable Issuing Lender, Letters
of Credit issued shall only be standby Letters of Credit. 
 (b)    No Issuing Lender shall at any time be obligated to
issue any Letter of Credit hereunder if such issuance would conflict with, or cause such Issuing Lender or any L/C Participant to exceed any limits imposed by, any applicable Requirement of Law. 

Section 3.02.    Procedure for Issuance of Letter of Credit. The Borrower may from time to time request that
an Issuing Lender issue a Letter of Credit by delivering to such Issuing Lender at its address for notices specified herein an Application therefor, completed to the satisfaction of such Issuing Lender, and such other certificates, documents and
other papers and information as such Issuing Lender may request. Concurrently with the delivery of an Application to an Issuing Lender, the Borrower shall deliver a copy thereof to the Administrative Agent. Upon receipt of any Application,
an Issuing Lender will process such Application and the certificates, documents and other papers and information delivered to it in connection therewith in accordance with its customary procedures and shall promptly issue the Letter of Credit
requested thereby by issuing the original of such Letter of Credit to the beneficiary thereof or as otherwise may be agreed to by such Issuing Lender and the Borrower (but in no event shall any Issuing Lender be required to issue any Letter of
Credit earlier than three Business Days after its receipt of the Application therefor and all such other certificates, documents and other papers and information relating thereto). Promptly after issuance by an Issuing Lender of a Letter of
Credit, such Issuing Lender shall furnish a copy of such Letter of Credit to the Company. Each Issuing Lender shall promptly give notice to the Administrative Agent of the issuance of each Letter of Credit issued by such Issuing Lender
(including the face amount thereof). 
 Section 3.03.    Fees and Other Charges. (a) The Company will pay a
fee (an “L/C Fee”) on the aggregate drawable amount of all outstanding Letters of Credit at a per annum rate equal to the Applicable Margin then in effect with respect to Eurocurrency Loans under the Revolving Credit Facility,
shared ratably among the Revolving Credit Lenders in accordance with their respective Revolving Credit Percentages and payable quarterly in arrears on each March 31, June 30, September 30 and December 31 after the issuance date. In
addition, the Company shall pay to the relevant Issuing Lender for its own account a fronting fee on the aggregate drawable 

  
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amount of all outstanding Letters of Credit issued by it of 0.125% per annum or such other amount as may be separately agreed to between the Company and the relevant Issuing Lender. Such
fronting fee shall be payable quarterly in arrears on each March 31, June 30, September 30 and December 31 after the issuance date. 

(b)    In addition to the foregoing fees, the Borrower shall pay or reimburse each Issuing Lender for such normal and
customary costs and expenses as are incurred or charged by such Issuing Lender in issuing, negotiating, effecting payment under, amending or otherwise administering any Letter of Credit. 

Section 3.04.    L/C Participations. (a) Each Issuing Lender irrevocably agrees to grant and hereby grants to
each L/C Participant, and, to induce each Issuing Lender to issue Letters of Credit hereunder, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each Issuing Lender, on the terms and conditions
hereinafter stated, for such L/C Participant’s own account and risk, an undivided interest equal to such L/C Participant’s Revolving Credit Percentage in each Issuing Lender’s obligations and rights under each Letter of Credit issued
by such Issuing Lender hereunder and each L/C Disbursement made by such Issuing Lender thereunder. Each L/C Participant unconditionally and irrevocably agrees with each Issuing Lender that, if such Issuing Lender makes any L/C Disbursement in
respect of a Letter of Credit issued by such Issuing Lender for which such Issuing Lender is not reimbursed in full by the Borrower in accordance with the terms of this Agreement, such L/C Participant shall pay to the Administrative Agent for the
account of such Issuing Lender upon demand at such Issuing Lender’s address for notices specified herein (and thereafter the Administrative Agent shall promptly pay to such Issuing Lender) in Dollars, an amount equal to such L/C
Participant’s Revolving Credit Percentage of such L/C Disbursement, or any part thereof, that is not so reimbursed. Each L/C Participant’s obligation to pay such amount shall be absolute and unconditional and shall not be affected by
any circumstance, including (i) any setoff, counterclaim, recoupment, abatement, withholding, reduction, defense or other right that such L/C Participant may have against each Issuing Lender, the Borrower or any other Person for any reason
whatsoever, (ii) the occurrence or continuance of a Default or an Event of Default or the failure to satisfy any of the other conditions specified in Article 5, (iii) any adverse change in the condition (financial or otherwise) of the Borrower, (iv)
any breach of this Agreement or any other Loan Document by the Borrower, any other Loan Party or any other L/C Participant or (v) any other circumstance, happening or event whatsoever, whether or not similar to any of the foregoing. 

(b)    If any amount (a “Participation Amount”) required to be paid by any L/C Participant to an Issuing
Lender pursuant to Section 3.04(a) in respect of any unreimbursed portion of any L/C Disbursement made by such Issuing Lender under any Letter of Credit is not paid to such Issuing Lender within one Business Day after the date such payment is due,
such Issuing Lender shall so notify the Administrative Agent, which shall promptly notify the L/C Participants, and each L/C Participant shall pay to the Administrative Agent, for the account of such Issuing Lender, on demand (and thereafter the
Administrative Agent shall promptly pay to such Issuing Lender) in Dollars, an amount equal to the product of (i) such Participation Amount, times (ii) the daily average Federal Funds Effective Rate during the period from and including the date such
payment is required to the date on which such payment is immediately available to such Issuing Lender, times (iii) a fraction the numerator of which is the number of 

  
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days that elapse during such period and the denominator of which is 360. If any Participation Amount required to be paid by any L/C Participant pursuant to Section 3.04(a) is not made
available to the Administrative Agent for the account of the relevant Issuing Lender by such L/C Participant within three Business Days after the date such payment is due, the Administrative Agent on behalf of such Issuing Lender shall be entitled
to recover from such L/C Participant, on demand, such Participation Amount with interest thereon calculated from such due date at the rate per annum applicable to Base Rate Loans under the Revolving Credit Facility. A certificate of the
Administrative Agent submitted on behalf of an Issuing Lender to any L/C Participant with respect to any amounts owing under this Section shall be conclusive in the absence of manifest error. 

(c)    Whenever, at any time after an Issuing Lender has made any L/C Disbursement in respect of a Letter of Credit issued
by such Issuing Lender and has received from the Administrative Agent any L/C Participant’s pro rata share of such payment in accordance with Section 3.04(a), such Issuing Lender receives any payment related to such Letter of Credit (whether
directly from the Company or otherwise, including proceeds of collateral applied thereto by such Issuing Lender), or any payment of interest on account thereof, such Issuing Lender will distribute to the Administrative Agent for the account of such
L/C Participant (and thereafter the Administrative Agent will promptly distribute to such L/C Participant) its pro rata share thereof; provided, however, that if any such payment received by such Issuing Lender shall be required to be
returned by such Issuing Lender, such L/C Participant shall return to the Administrative Agent for the account of such Issuing Lender (and thereafter the Administrative Agent shall promptly return to such Issuing Lender) the portion thereof
previously distributed by such Issuing Lender. 
 Section 3.05.    Reimbursement Obligation of the
Borrowers. The Borrowers agree to reimburse each Issuing Lender, by the next Business Day following the date on which such Issuing Lender notifies the Borrower of the date and amount of an L/C Disbursement made by such Issuing Lender, for
the amount of (a) such L/C Disbursement and (b) any taxes, fees, charges or other costs or expenses incurred by such Issuing Lender in connection with such L/C Disbursement (the amounts described in the foregoing clauses (a) and (b) in respect of
any drawing, collectively, the “Payment Amount”). Each such payment shall be made to such Issuing Lender at its address for notices specified herein in lawful money of the United States of America and in immediately available
funds. Interest shall be payable on each Payment Amount from the date of the applicable drawing until payment in full at the rate set forth in (i) until the second Business Day following the date of the applicable drawing, Section 2.15(b)(ii)
and (ii) thereafter, Section 2.16. If any Borrower fails to so reimburse such Issuing Lender, such Borrower shall be deemed to have requested a borrowing pursuant to Section 2.05 of Base Rate Loans in the amount of such L/C Disbursement, the
making of any such borrowing to be subject to the conditions set forth in Section 5.03 (other than delivery of a borrowing notice); provided that if such conditions are not satisfied, the procedures specified in Section 3.04 for funding by
L/C Participants shall apply. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans that are Standby Loans could be made, pursuant to Section 2.05, if the Administrative Agent
had received a notice of such borrowing at the time the Administrative Agent receives notice from the relevant Issuing Lender of such drawing under such Letter of Credit. 

  
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 Section 3.06.    Obligations Absolute. The Borrowers’
obligations under this Article 3 shall be absolute, unconditional and irrevocable, and shall be performed strictly in accordance with the terms of this Agreement, under any and all circumstances whatsoever, and irrespective of: 

(a)    any lack of validity or enforceability of any Letter of Credit or any Loan Document, or any term or provision
therein; 
 (b)    any amendment or waiver of or any consent to departure from all or any of the provisions of any
Letter of Credit or any Loan Document; 
 (c)    the existence of any claim, setoff, defense or other right that any
Borrower, any other party guaranteeing, or otherwise obligated with, any Borrower, any Subsidiary or other Affiliate thereof or any other Person may at any time have against the beneficiary under any Letter of Credit, the applicable Issuing Lender,
the Administrative Agent or any Lender or any other Person, whether in connection with this Agreement, any other Loan Document or any other related or unrelated agreement or transaction; 

(d)    any draft or other document presented under a Letter of Credit proving to be forged, fraudulent, invalid or
insufficient in any respect or any statement therein being untrue or inaccurate in any respect; 
 (e)    payment by the
applicable Issuing Lender under a Letter of Credit against presentation of a draft or other document that does not comply with the terms of such Letter of Credit; and 

(f)    any other act or omission to act or delay of any kind of the applicable Issuing Lender, the Lenders, the
Administrative Agent or any other Person or any other event or circumstance whatsoever, whether or not similar to any of the foregoing, that might, but for the provisions of this Section, constitute a legal or equitable discharge of the
Borrowers’ obligations hereunder. 
 Without limiting the generality of the foregoing, it is expressly understood and agreed that the
absolute and unconditional obligation of the Borrowers under this Article 3 will not be excused by the gross negligence or willful misconduct of the applicable Issuing Lender. However, the foregoing shall not be construed to excuse the
applicable Issuing Lender from liability to the Borrowers to the extent of any direct damages (as opposed to consequential damages, claims in respect of which are hereby waived by the Borrowers to the extent permitted by applicable law) suffered by
the Borrowers that are caused by such Issuing Lender’s gross negligence or willful misconduct in determining whether drafts and other documents presented under a Letter of Credit comply with the terms thereof. It is further understood and
agreed that the applicable Issuing Lender may accept documents that appear on their face to be in order, without responsibility for further investigation, regardless of any notice or information to the contrary and, in making any payment under any
Letter of Credit issued by such Issuing Lender (i) such Issuing Lender’s exclusive reliance on the documents presented to it under such Letter of Credit as to any and all matters set forth therein, including reliance on the amount of any draft
presented under such Letter of Credit, whether or not the amount due to the beneficiary 

  
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thereunder equals the amount of such draft and whether or not any document presented pursuant to such Letter of Credit proves to be insufficient in any respect, if such document on its face
appears to be in order, and whether or not any other statement or any other document presented pursuant to such Letter of Credit proves to be forged or invalid or any statement therein proves to be inaccurate or untrue in any respect whatsoever and
(ii) any noncompliance in any immaterial respect of the documents presented under such Letter of Credit with the terms thereof shall, in each case, be deemed not to constitute gross negligence or willful misconduct of such Issuing Lender. 

Section 3.07.    Letter of Credit Payments. If any draft shall be presented for payment under any Letter of
Credit, the relevant Issuing Lender shall promptly notify the Company and the Administrative Agent of the date and amount thereof. The responsibility of the relevant Issuing Lender to the Company in connection with any draft presented for
payment under any Letter of Credit, in addition to any payment obligation expressly provided for in such Letter of Credit issued by such Issuing Lender, shall be limited to determining that the documents (including each draft) delivered under such
Letter of Credit in connection with such presentment appear on their face to be in conformity with such Letter of Credit. 
 Section
3.08.    Applications. To the extent that any provision of any Application related to any Letter of Credit is inconsistent with the provisions of this Article 3, the provisions of this Article 3 shall apply. 

Section 3.09.    Resignation. Any Issuing Lender may resign at any time by giving 30 days’ prior
written notice to the Administrative Agent, the Lenders and the Company, and may be removed at any time by the Company by notice to such Issuing Lender, the Administrative Agent and the Lenders. Upon the acceptance of any appointment as an
Issuing Lender hereunder by a Lender that shall agree to serve as a successor Issuing Lender, such successor shall succeed to and become vested with all the interests, rights and obligations of such retiring Issuing Lender. At the time such
removal or resignation shall become effective, the Company shall pay all accrued and unpaid fees owing to the retiring Issuing Lender pursuant to Section 3.03(b). The acceptance of any appointment as an Issuing Lender hereunder by a successor
Lender shall be evidenced by an agreement entered into by such successor, in a form satisfactory to the Company and the Administrative Agent, and, from and after the effective date of such agreement, (1) such successor Lender shall have all the
rights and obligations of such previous Issuing Lender under this Agreement and the other Loan Documents and (2) references herein and in the other Loan Documents to the term “Issuing Lender” shall be deemed to refer to such successor or
to any previous Issuing Lender, or to such successor and all previous Issuing Lenders, as the context shall require. After the resignation or removal of an Issuing Lender hereunder, the retiring Issuing Lender shall remain a party hereto and
shall continue to have all the rights and obligations of an Issuing Lender under this Agreement and the other Loan Documents with respect to Letters of Credit issued by it prior to such resignation or removal, but shall not be required to issue
additional Letters of Credit. 
 Section 3.10.    Additional Issuing Lenders. The Company may, at any time
and from time to time with the consent of the Administrative Agent (which consent shall not be unreasonably withheld or delayed) and such Lender, designate one or more additional Lenders to act as an issuing lender under the terms of this Agreement,
subject to reporting requirements 

  
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reasonably satisfactory to the Administrative Agent with respect to issuances, amendments, extensions and terminations of Letters of Credit by such additional issuing lender. Any Lender
designated as an issuing lender pursuant to this Section 3.10 shall be deemed to be an “Issuing Lender” (in addition to being a Lender) in respect of Letters of Credit issued or to be issued by such Lender, and, with respect to such
Letters of Credit, such term shall thereafter apply to the other Issuing Lender and such Lender. 
 ARTICLE 4 

REPRESENTATIONS AND WARRANTIES 

To induce the Agents and the Lenders to enter into this Agreement and to make the Loans and issue or participate in the Letters of Credit, the
Company hereby represents and warrants to each Agent and each Lender that: 
 Section 4.01.    Financial
Condition. Except as otherwise set forth therein, the Annual Financial Statements and the Quarterly Financial Statements fairly present in all material respects the financial condition of the Company and its Subsidiaries as of the dates
thereof and their results of operations for the period covered thereby in accordance with GAAP consistently applied throughout the periods covered thereby, subject, in the case of the Quarterly Financial Statements, to changes resulting from normal
year end audit adjustments and the absence of footnotes. 
 Section 4.02.    No Change. Since
December 31, 2015 there has been no development or event that has had or could reasonably be expected to have a Material Adverse Effect. 

Section 4.03.    Corporate Existence; Compliance with Law. Each of the Company and its Restricted Subsidiaries
(a) is duly organized, validly existing and in good standing under the laws of the jurisdiction of its organization (to the extent such concepts are applicable under the law of such jurisdiction), except (i) with respect to the good standing of its
Foreign Subsidiaries that do not constitute a material portion of the business of the Company and its Restricted Subsidiaries, taken as a whole, and (ii) other than with respect to any Borrower, where such failure to be in good standing could not,
individually or in the aggregate, reasonably be expected to have a Material Adverse Effect, (b) has the corporate power and authority, and the legal right, to own and operate its Property, to lease the Property it operates as lessee and to conduct
the business in which it is currently engaged, except where the failure to do so could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect, (c) is duly qualified as a foreign corporation or other
organization and in good standing under the laws of each jurisdiction (to the extent such concepts are applicable under the law of such jurisdiction) where its ownership, lease or operation of Property or the conduct of its business requires such
qualification, except to the extent that the failure to be so qualified could not, in the aggregate, reasonably be expected to have a Material Adverse Effect, and (d) is in compliance with all Requirements of Law except to the extent that the
failure to comply therewith could not, in the aggregate, reasonably be expected to have a Material Adverse Effect. 
 Section
4.04.    Corporate Power; Authorization; Enforceable Obligations. Each Loan Party has the corporate power and authority, and the legal right, to make, deliver and perform the Loan Documents to which it is a party and,
in the case of the Borrowers, to borrow hereunder in 

  
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accordance with the terms and conditions hereof. Each Loan Party has taken all necessary corporate action to authorize the execution, delivery and performance of the Loan Documents to which
it is a party and, in the case of the Borrowers, to authorize the borrowings on the terms and conditions of this Agreement. No consent or authorization of, filing with, notice to or other act by or in respect of, any Governmental Authority or
any other Person is required in connection with the borrowings hereunder or the execution, delivery, performance, validity or enforceability of this Agreement or any of the other Loan Documents, except (i) consents, authorizations, filings and
notices described in Schedule 4.04, which consents, authorizations, filings and notices have been obtained or made and are in full force and effect, (ii) the filings referred to in Section 4.18 and filings required under
the Exchange Act in respect of the transactions contemplated hereby and (iii) consents, authorizations, filings and notices the failure of which to obtain could not individually or in the aggregate reasonably be expected to have a Material Adverse
Effect. Each Loan Document has been duly executed and delivered on behalf of each Loan Party that is a party thereto. This Agreement constitutes, and each other Loan Document upon execution will constitute (in each case, assuming due
execution by the parties other than the Loan Parties party thereto), a legal, valid and binding obligation of each Loan Party that is a party thereto, enforceable against each such Loan Party in accordance with its terms, except as enforceability
may be limited by (i) applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the enforcement of creditors’ rights generally and by general equitable principles (whether enforcement is sought by proceedings in
equity or at law) and (ii) the effect of foreign laws, rules and regulations as they relate to pledges of Capital Stock in Foreign Subsidiaries. 

Section 4.05.    No Legal Bar. The execution, delivery and performance of this Agreement and the other Loan
Documents, the issuance of Letters of Credit, the borrowings hereunder and the use of the proceeds thereof will not violate or conflict with any Requirement of Law or any material Contractual Obligation of the Company or any of its Restricted
Subsidiaries and will not result in, or require, the creation or imposition of any Lien on any of their respective properties or revenues pursuant to any Requirement of Law or any such material Contractual Obligation (other than the Liens created by
the Security Documents), except (other than with respect to (i) violations or conflicts with Organizational Documents and (ii) creation or imposition of Liens) as could not reasonably be expected to have a Material Adverse Effect. 

Section 4.06.    No Material Litigation. Except as disclosed on Schedule 4.06, no
litigation, investigation or proceeding of or before any arbitrator or Governmental Authority is pending or, to the knowledge of the Company, threatened by or against the Company or any of its Restricted Subsidiaries or against any of their
respective properties or revenues (a) as of the Closing Date, with respect to any of the Loan Documents or any of the transactions contemplated hereby or thereby, or (b) that could reasonably be expected to have a Material Adverse Effect. 

Section 4.07.    No Default. Neither the Company nor any of its Restricted Subsidiaries is in default under or
with respect to any of its Contractual Obligations in any respect that could reasonably be expected to have a Material Adverse Effect. No Default or Event of Default has occurred and is continuing. 

Section 4.08.    Ownership of Property; Liens; Insurance. (a) Each of the Company and its Restricted
Subsidiaries has title in fee simple to, or a valid leasehold interest in, all its real property, and good title to, or a valid leasehold interest in, all its other tangible Property, except, in each case, as could not reasonably be expected to have
a Material Adverse Effect, and none of such Property is subject to any Lien except as permitted by Section 7.03. 

  
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 (b)    The properties of the Company and its Restricted Subsidiaries are
insured with financially sound and reputable insurance companies insurance in at least such amounts and against at least such risks (but including in any event public liability, product liability and business interruption) as are usually insured
against in the same general area by companies engaged in the same or a similar business. 
 Section
4.09.    Intellectual Property. Except as described on Schedule 4.09 and except as could not reasonably be expected to have a Material Adverse Effect, the Company and each of its Restricted
Subsidiaries owns, or is licensed to use, all Intellectual Property necessary for the conduct of its business as currently conducted. Except as described on Schedule 4.09, no claim has been asserted in writing to the Company or any of
its Restricted Subsidiaries and is pending by any Person challenging or questioning the use of any such Intellectual Property or the validity or effectiveness of any such Intellectual Property, nor does the Company know of any valid basis for any
such claim, in each case, that could reasonably be expected to have a Material Adverse Effect. Except as described on Schedule 4.09, the use of Intellectual Property by the Company and its Restricted Subsidiaries does not infringe on the
Intellectual Property rights of any Person in any manner that, individually or in the aggregate, could reasonably be expected to have a Material Adverse Effect. 

Section 4.10.    Taxes. (a) Except as could not reasonably be expected to have a Material Adverse Effect, each
of the Company and its Restricted Subsidiaries has filed or caused to be filed all Federal and state income tax returns and other tax returns that are required to be filed and has paid all taxes shown to be due and payable on said returns or on any
assessments made against it or any of its Property and all other taxes, fees or other charges imposed on it or any of its Property by any Governmental Authority (other than any amount the validity of which is currently being contested in good faith
by appropriate proceedings and with respect to which reserves in conformity with GAAP have been provided on the books of the Company or its Restricted Subsidiaries, as the case may be). 

(b)    Except as disclosed to the Lenders in writing prior to the delivery of such Approved Borrower’s Designation
Letter, there is no income, stamp or other tax of any country, or of any taxing authority thereof or therein (other than any net income taxes, branch profit taxes and franchise taxes (imposed in lieu of net income taxes) imposed on any Lender as a
result of a present or former connection between such Lender and the jurisdiction of the Governmental Authority imposing such tax or any political subdivision or taxing authority thereof or therein (other than any such connection arising solely from
such Lender’s having executed, delivered or performed its obligations or received a payment under, or enforced, this Agreement or any other Loan Document in such jurisdiction)), imposed by or in the nature of withholding or otherwise, which is
imposed on any payment to be made by such Approved Borrower pursuant hereto, or is imposed on or by virtue of the execution, delivery or enforcement of its Designation Letter or this Agreement. 

  
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 Section 4.11.    Federal Regulations. No part of the proceeds of
any Loans, and no other extensions of credit hereunder, will be used, whether directly or indirectly, and whether immediately, incidentally or ultimately, for “purchasing” or “carrying” any “margin stock” within the
respective meanings of each of the quoted terms under Regulation U as now and from time to time hereafter in effect or for any purpose that violates or is inconsistent with the provisions of the Regulations of the Board. If requested by any
Lender or the Administrative Agent, each Borrower will furnish to the Administrative Agent and each Lender a statement to the foregoing effect in conformity with the requirements of FR Form G 3 or FR Form U 1 referred to in Regulation U. None
of the Company or any of its Subsidiaries is engaged principally, or as one of its important activities, in the business of extending credit for the purpose of buying or carrying “margin stock”. 

Section 4.12.    Labor Matters. There are no strikes or other labor disputes against the Company or any of its
Restricted Subsidiaries pending or, to the knowledge of the Company, threatened that (individually or in the aggregate) could reasonably be expected to have a Material Adverse Effect. Hours worked by and payment made to employees of the Company
and its Restricted Subsidiaries have not been in violation of the Fair Labor Standards Act or any other applicable Requirement of Law dealing with such matters that (individually or in the aggregate) could reasonably be expected to have a Material
Adverse Effect. All payments due from the Company or any of its Restricted Subsidiaries on account of employee health and welfare insurance that (individually or in the aggregate) could reasonably be expected to have a Material Adverse Effect
if not paid have been paid or accrued as a liability on the books of the Company or the relevant Subsidiary. 
 Section
4.13.    ERISA. Except as could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect, (a) neither a Reportable Event nor an ERISA Event has occurred during the five year
period prior to the date on which this representation is made or deemed made with respect to any applicable Plan that is not a Multiemployer Plan, and each such Plan has complied in all material respects with the applicable provisions of ERISA and
the Code, (b) no termination of a Single Employer Plan has occurred other than pursuant to a standard termination under Title IV of ERISA, and no Lien in favor of the PBGC or a Single Employer Plan has arisen on the assets of the Company and
remains in force, during such five-year period, (c) the present value of all accrued benefits under each Single Employer Plan (based on those assumptions used to fund such Plans) is as reflected in the actuarial report of McKonly & Asbury
prepared as of December 31, 2015 is accurate and such report fairly presents the funded status of such Single Employer Plan on the basis set forth therein, (d) neither the Company nor any Commonly Controlled Entity has had a complete or partial
withdrawal from any Multiemployer Plan that has resulted or could reasonably be expected to result in liability under ERISA, and neither the Company nor any Commonly Controlled Entity would become subject to any liability under ERISA if the Company
or any such Commonly Controlled Entity were to withdraw completely from all Multiemployer Plans as of the valuation date most closely preceding the date on which this representation is made or deemed made and (e) no such Multiemployer Plan is in
Reorganization or Insolvent. 
 Section 4.14.    Investment Company Act. No Loan Party is required to be
registered as an “investment company” within the meaning of the Investment Company Act of 1940, as amended. 

  
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 Section 4.15.    Subsidiaries. (a) The Subsidiaries listed on
Schedule 4.15(a) constitute all the Subsidiaries of the Company as of the Closing Date. Schedule 4.15(a) sets forth as of the Closing Date the name and jurisdiction of formation of each
Subsidiary and, as to each Subsidiary, the percentage of each class of Capital Stock owned by each Loan Party. 

(b)    As of the Closing Date there are no outstanding subscriptions, options, warrants, calls, rights or other agreements
or commitments (other than warrants, options, restricted stock units, restricted stock, phantom stock units, stock appreciation rights or other similar securities or rights granted to current or former employees, officers, consultants or directors
and directors’ qualifying shares) of any nature relating to any Capital Stock of the Company or any Subsidiary, except as disclosed on Schedule 4.15(b). 

Section 4.16.    Environmental Matters. Except as could not, individually or in the aggregate, reasonably be
expected to have a Material Adverse Effect: 
 (a)    The Company and its Subsidiaries: (i) are, and within the
period of all applicable statutes of limitation have been, in compliance with all applicable Environmental Laws; (ii) hold all Environmental Permits (each of which is in full force and effect) required for any of their current or intended operations
or for any property owned, leased, or otherwise operated by any of them; (iii) are, and within the period of all applicable statutes of limitation have been, in compliance with all of their Environmental Permits; and (iv) reasonably believe
that: each of their required Environmental Permits will be timely renewed and complied with, without material expense; any additional Environmental Permits that are reasonably expected to be required of any of them based on anticipated
operational changes or proposed or existing Environmental Laws will be timely obtained and complied with, without material expense; and compliance with any Environmental Law or Environmental Permit that is or is reasonably expected to become
applicable to any of them based on existing or proposed Environmental Laws will be timely attained and maintained, without material expense; 

(b)    Materials of Environmental Concern are not present at, on, under, in, from or about any real property now or, to
the knowledge of the Company or any of its Subsidiaries, formerly owned, leased or operated by the Company or any of its Subsidiaries, or, to the knowledge of the Company or any of its Subsidiaries, at any other location (including, without
limitation, any location to which Materials of Environmental Concern have been sent for re-use or recycling or for treatment, storage, or disposal) which could reasonably be expected to (i) give rise to Environmental Liability of the Company or any
of its Subsidiaries, (ii) interfere with the Company’s or any of its Subsidiaries’ continued operations, or (iii) impair the fair saleable value of any real property owned or leased by the Company or any of its Subsidiaries; 

(c)    There is no judicial, administrative, or arbitral proceeding (including any notice of violation or alleged
violation) under or relating to any Environmental Law to which the Company or any of its Subsidiaries is, or to the knowledge of the Company or any of its Subsidiaries will be, named as a party that is pending or, to the knowledge of the Company or
any of its Subsidiaries, threatened; 

  
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 (d)    Neither the Company nor any of its Subsidiaries has received any
written request for information, or been notified that it is a potentially responsible party, in each case, (i) under or relating to the federal Comprehensive Environmental Response, Compensation, and Liability Act or any similar Environmental Law,
or with respect to exposure to, or releases of or the disposal or the arranging for disposal or transport for disposal, leaking or emission of, any Materials of Environmental Concern and (ii) that remains outstanding and/or imposes ongoing
obligations; 
 (e)    Neither the Company nor any of its Subsidiaries has entered into or agreed to any consent decree,
order, or settlement or other agreement, or is subject to any judgment, decree, or order or other agreement, in any judicial, administrative, arbitral, or other forum for dispute resolution, relating to any Environmental Liability or to compliance
with any Environmental Law, in each case that remains outstanding or imposes ongoing obligations; and 
 (f)    Neither
the Company nor any of its Subsidiaries has assumed or retained, by contract or operation of law, any Environmental Liability that remains outstanding or imposes ongoing obligations. 

Section 4.17.    Accuracy of Information, Etc. No written statement or information contained in this
Agreement, any other Loan Document, the Lender Presentation or any other document, certificate or statement (other than projections, pro forma financial information and information of a general economic or industry nature) furnished from time to
time to the Administrative Agent or the Lenders or any of them pursuant to or in connection with this Agreement or any of the other Loan Documents, taken as a whole, by or on behalf of any Loan Party for use in connection with the transactions
contemplated by this Agreement or the other Loan Documents, contained as of the date such statement, information, document or certificate was so furnished (or, in the case of the Lender Presentation, as of the Closing Date), as modified or
supplemented by any other information so furnished, any untrue statement of a material fact or omitted to state a material fact necessary to make the statements contained herein or therein not misleading, when taken as a whole. The projections
and pro forma financial information contained in the materials referenced above and all Projections delivered pursuant to Section 6.02(c) are based upon good faith estimates and assumptions believed by management of the Company to be reasonable at
the time made, it being recognized that such financial information as it relates to future events is not to be viewed as fact and that actual results during the period or periods covered by such financial information may differ from the projected
results set forth therein by a material amount. 
 Section 4.18.    Security Documents. (a) The Guarantee
and Collateral Agreement is effective to create in favor of the Collateral Agent, for the benefit of the Secured Parties, a legal, valid and enforceable security interest in the Collateral described therein and proceeds thereof. 

(b)    [Reserved]. 

(c)    Each Mortgage is effective to create in favor of the Collateral Agent, for the benefit of the Secured Parties, a
legal, valid, enforceable and perfected Lien on, and security interest in, all right, title and interest of the Loan Parties in and to the Mortgaged Property described therein and proceeds thereof, prior and superior in right to any other Person
(other than Persons holding Liens or other encumbrances or rights permitted by such Mortgage or Section 7.03). Schedule 4.18(c) lists, as of the Closing Date, each parcel of owned real property located in the United
States and held by the Company or any of its Domestic Subsidiaries that has a value, in the reasonable opinion of the Company, in excess of $5,000,000. 

  
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 Section 4.19.    Solvency. As of the Closing Date, the Loan
Parties (taken as a whole) are, and after giving effect to the incurrence of all Indebtedness and obligations being incurred in connection herewith, will be, Solvent. 

Section 4.20.    Sanctioned Persons. None of the Company, any of its Subsidiaries or, to the knowledge of the
Company, any director, officer or employee of the Company or any of its Subsidiaries is a Person listed in any Sanctions-related list of designated Persons maintained by OFAC, the U.S. Department of State, the United Nations Security Council, the
European Union or Her Majesty’s Treasury, or owned 50% or more, directly or indirectly, by any Person or Persons included on any such list; nor is the Company or any of its Subsidiaries located, organized or resident in a country or territory
where such location, organization or residency would make it a target of Sanctions. The Company and its Subsidiaries have instituted and maintain policies and procedures designed to ensure continued compliance with Sanctions. 

Section 4.21.    Foreign Corrupt Practices Act. Except as could not, individually or in the aggregate,
reasonably be expected to result in a Material Adverse Effect, none of the Company or any of its Subsidiaries or, to the knowledge of the Company, any director, officer or employee of the Company or any of its Subsidiaries has, in the past three
years, committed a violation of applicable Sanctions, applicable anti-money laundering laws, or the United States Foreign Corrupt Practices Act of 1977, as amended (the “FCPA”), or any other applicable anti-corruption law, and have
instituted and maintain policies and procedures designed to ensure continued compliance therewith.
 Section
4.22.    Use of Proceeds. The Borrowers will use the proceeds of the Loans only for the purposes specified in Section 6.10. No Borrowing or Letter of Credit, use of proceeds or other transaction contemplated by
this Agreement will violate Sanctions or any applicable anti-corruption laws. 
 ARTICLE 5 

CONDITIONS PRECEDENT 

Section 5.01.    Conditions to Effectiveness of this Agreement and the Initial Extension of Credit. The
agreement of each Lender to make the initial extension of credit requested to be made by it under this Agreement on the Closing Date is subject to the satisfaction of each of the Lenders, prior to or concurrently with the making of such extension of
credit on the Closing Date, of the following conditions precedent: 
 (a)    The Administrative Agent shall have
received in .pdf format (followed promptly by originals) and unless otherwise specified, properly executed by a Responsible Officer of the signing Loan Party and by each other party thereto, each in form and substance reasonably satisfactory to the
Administrative Agent and its legal counsel: 
 (i)    executed counterparts of (i) the Amendment and
Restatement Agreement duly executed by the Lenders, the Loan Parties, the Administrative Agent and the Collateral Agent and (ii) the Consent and Reaffirmation duly executed by the Loan Parties; 

  
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 (ii)    a Term Loan Borrowing Request and a Standby Borrowing
Request; 
 (iii)    certificates of good standing from the secretary of state of the state of
organization of each Loan Party, customary certificates of resolutions or other action, incumbency certificates and/or other certificates of Responsible Officers of each Loan Party certifying true and complete copies of the organizational documents
attached thereto and evidencing the identity, authority and capacity of each Responsible Officer thereof authorized to act as a Responsible Officer in connection with this Agreement and the other Loan Documents to which such Loan Party is a party or
is to be a party on the Closing Date; 
 (iv)    customary legal opinions from (x) Fried, Frank, Harris,
Shriver & Jacobson LLP, New York and Delaware counsel to the Loan Parties and (y) the general counsel of the Company, in each case, in form and substance reasonably satisfactory to the Administrative Agent; 

(v)    a certificate of a Responsible Officer certifying that the conditions in Sections 5.01(d) and (e)
have been satisfied; and 
 (vi)    a solvency certificate from a Responsible Officer of the Company
(after giving effect to the Transactions) substantially in the form attached hereto as Exhibit L. 
 (b)    [Reserved.]

 (c)    [Reserved.] 

(d)    The representations and warranties set forth in Article 4 shall be true and correct in all material respects on and
as of the Closing Date; provided that to the extent such representations and warranties specifically refer to an earlier date, they shall be true and correct in all material respects as of such earlier date; provided further, that any
representation or warranty that is qualified by materiality shall be true and correct in all respects. 
 (e)    At the
time of and immediately after giving effect to the initial Borrowing on the Closing Date, no Default or Event of Default shall have occurred and be continuing. 

(f)    The Administrative Agent shall have received at least three (3) Business Days prior to the Closing Date all
documentation and other information in respect of the Borrowers and the Subsidiary Guarantors required under applicable “know your customer” and anti-money laundering rules and regulations, including the USA PATRIOT Act, that has been
reasonably requested in writing by it at least ten (10) Business Days prior to the Closing Date. 
 (g)    [Reserved.]

  
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 (h)    Substantially concurrently with the initial Borrowing on the Closing
Date, all outstanding Indebtedness of the Company under the 2018 Senior Notes shall have been repaid in full (or satisfied and discharged in accordance with Section 4.1 of the 2008 Indenture).

(i)    All fees and expenses (in the case of expenses, to the extent invoiced at least three Business Days prior to the
Closing Date (except as otherwise reasonably agreed by the Borrowers)) required to be paid hereunder on the Closing Date shall have been paid, or shall be paid substantially concurrently with the initial Borrowing on the Closing Date. 

(j)    The Brand Disposition shall have been consummated prior to the Closing Date (it being understood that this
condition is satisfied). 
 Section 5.02.    First Borrowing By Each Approved Borrower. On the date of any
Approved Borrower’s initial Borrowing hereunder, the obligations of the Revolving Credit Lenders to make Loans to such Approved Borrower are subject to the satisfaction (or waiver in accordance with Section 10.01) of each of the conditions set
forth in Section 5.03 and the following further conditions: 
 (a)    The Administrative Agent shall have received a
favorable written opinion of the general counsel of such Approved Borrower dated as of a recent date and addressed to the Lenders, in form and substance reasonably acceptable to the Administrative Agent, subject to necessary changes to reflect local
law. 
 (b)    The Administrative Agent shall have received (i) a copy of the certificate or articles of incorporation
(or such other analogous documents), including all amendments thereto, of such Approved Borrower, certified as of a recent date by the Secretary of State (or other appropriate Governmental Authority) of the state (or country) of its organization or
such other evidence as is reasonably satisfactory to the Administrative Agent, and a certificate as to the good standing (or other analogous certification to the extent available) of such Approved Borrower as of a recent date, from such Secretary of
State (or other appropriate Governmental Authority) or such other evidence reasonably acceptable to the Administrative Agent; (ii) a certificate of the Secretary or Assistant Secretary of such Approved Borrower dated the date on which such Loans are
to be made and certifying (A) that attached thereto is a true and complete copy of the by-laws (or such other analogous documents to the extent available) of such Approved Borrower as in effect on the date of such certificate and at all times since
a date prior to the date of the resolution of such Approved Borrower described in item (B) below, (B) that attached thereto is a true and complete copy of resolutions adopted by the board of directors of such Approved Borrower authorizing the
execution, delivery and performance of the Designation Letter delivered by such Approved Borrower and the borrowings hereunder by such Approved Borrower, and that such resolutions have not been modified, rescinded or amended and are in full force
and effect, (C) that the certificate or articles of incorporation (or other analogous documents) of such Approved Borrower have not been amended since the date of the last amendment thereto shown on the certificate of good standing (or other
analogous certification or such other evidence reasonably acceptable to the Administrative Agent) furnished pursuant to clause (i) above, and (D) as to the incumbency and specimen signature of each officer of such Approved Borrower executing the
Designation Letter delivered by such Approved Borrower or any other document delivered in connection herewith or therewith; (iii) a certificate of another officer of such Approved Borrower 

  
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as to the incumbency and signature of the Secretary or such Assistant Secretary of such Approved Borrower executing the certificate pursuant to (ii) above; and (iv) such other documents as the
Lenders or counsel for the Administrative Agent, may reasonably request. 
 (c)    The Administrative Agent shall have
received (with sufficient copies for each Lender) a Designation Letter, duly executed by such Approved Borrower and the Company and acknowledged by the Administrative Agent. 

(d)    The Administrative Agent shall have received certificates of each of the Company and the applicable Approved
Borrower, dated such date and signed, in the case of the Company, by a Responsible Officer of the Company, and in the case of any Borrower other than the Company, a Responsible Officer of such Borrower, confirming compliance with the conditions
precedent set forth in paragraphs (a) and (b) of Section 5.03. 
 (e)    To the extent required, the Company and/or such
Approved Borrower shall have executed and delivered one or more Revolving Credit Notes to each Lender that has requested delivery of the same pursuant to Section 2.08(e). 

(f)    The Administrative Agent shall have received such other documents or information as the Administrative Agent may
reasonably require, including any documents or information requested by any Lender through the Administrative Agent (such as documents or information in connection with any Lender’s “know your customer” requirements), so long as the
Administrative Agent shall have requested such documents or information a reasonably period of time prior to such date. 

(g)    Upon the satisfaction of the conditions precedent set forth in this Section 5.02, such Approved Borrower shall
become a Borrower hereunder with the same force and effect as if originally named as a Borrower hereunder. The rights and obligations of each Borrower hereunder shall remain in full force and effect notwithstanding the addition of any new
Borrower as a party to this Agreement. 
 Section 5.03.    Conditions to each Extension of Credit. The
agreement of each Lender to make any extension of credit (other than pursuant to Section 3.05 or a continuation or conversion of a Loan in accordance with the terms of this Agreement and except as otherwise expressly provided in Section 2.24)
requested to be made by it hereunder on any date (including, without limitation, its initial extension of credit) is subject to the satisfaction of the following conditions precedent: 

(a)    Representations and Warranties. Each of the representations and warranties made by any Loan Party in or
pursuant to the Loan Documents shall be true and correct in all material respects (except that any representation and warranty that is qualified by materiality shall be true and correct in all respects) on and as of such date as if made on and as of
such date (except to the extent such representations and warranties are specifically made as of a particular date, in which case such representations and warranties shall be true and correct in all material respects (except that any representation
and warranty that is qualified by materiality shall be true and correct in all respects) as of such date). 

  
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 (b)    No Default. No Default or Event of Default shall have
occurred and be continuing on such date or after giving effect to the extensions of credit requested to be made on such date. 

(c)    Notice. The Administrative Agent shall have received a Borrowing Request requesting such extension of
credit to the extent required hereunder. 
 Each borrowing (other than pursuant to Section 3.05 or a continuation or conversion of a Loan in
accordance with the terms of this Agreement and except as otherwise expressly provided in Section 2.24) by and issuance of a Letter of Credit on behalf of any Borrower hereunder shall constitute a representation and warranty by the Company as of the
date of such extension of credit that the conditions contained in paragraphs (a) and (b) of this Section 5.03 have been satisfied. 
 ARTICLE
6 
 AFFIRMATIVE COVENANTS 

The Company hereby agrees that, so long as the Commitments remain in effect, any Letter of Credit remains outstanding (other than any Letter
of Credit that has been Cash Collateralized or backstopped by a back-stop Letter of Credit in a manner reasonably satisfactory to the Administrative Agent and the applicable Issuing Lender) or any Loan or other amount is owing to any Lender or any
Agent hereunder or under any other Loan Document, the Company shall and shall cause its Restricted Subsidiaries to: 
 Section
6.01.    Financial Statements. Furnish to the Administrative Agent (on behalf of and for distribution to the applicable Lenders): 

(a)    promptly after available, but in any event within 90 days after the end of each fiscal year of the Company, a copy
of the audited consolidated balance sheet of the Company and its consolidated Subsidiaries as at the end of such year and the related audited consolidated statements of operations and of cash flows for such year, setting forth in each case in
comparative form the figures as of the end of and for the previous year, reported on without a “going concern” or like qualification or exception, or qualification arising out of the scope of the audit, by PricewaterhouseCoopers LLP or
other independent certified public accountants of nationally recognized standing other than with respect to or resulting from (i) the maturity of any Indebtedness or (ii) any potential inability to satisfy any financial covenant (including the
Financial Covenants) on a future date or for a future period; and 
 (b)    promptly after available, but in any event
not later than 45 days after the end of each of the first three fiscal quarterly periods of each fiscal year of the Company (commencing with the fiscal quarter ending March 31, 2017), the unaudited consolidated (i) balance sheet of the Company and
its consolidated Subsidiaries as at the end of such quarter, (ii) statements of operations for such quarter and the portion of the fiscal year through the end of such quarter and (iii) statements of cash flows for the portion of the fiscal year
through the end of such quarter, setting forth in the case of clause (i) in comparative form the figures as of the end of the previous fiscal year and in the case of clauses (ii) and (iii) in comparative form the figures for the corresponding
periods in the previous fiscal year, certified by a Responsible Officer as being fairly stated in all material respects (subject to normal year end audit adjustments); 

  
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 all such financial statements to be complete and correct in all material respects and to be prepared in
reasonable detail and in accordance with GAAP applied consistently throughout the periods reflected therein and with prior periods (except as approved by such accountants or officer, as the case may be, and disclosed therein), subject, in the case
of financial statements delivered pursuant to clause (b), to the absence of footnotes and to normal year end audit adjustments. 
 Section
6.02.    Certificates; Other Information. Furnish to the Administrative Agent (on behalf of and for distribution to the applicable Lenders): 

(a)    [Reserved]; 

(b)    concurrently with the delivery of any financial statements pursuant to Section 6.01, (i) a certificate of a
Responsible Officer stating that, to the best of such Responsible Officer’s knowledge, except as specified in such certificate, no Default or Event of Default has occurred and is continuing, (ii) (x) a Compliance Certificate containing all
information and calculations necessary for determining compliance by the Company and its Restricted Subsidiaries with the Financial Covenants as of the last day of the fiscal quarter or fiscal year of the Company, as the case may be and (y) to the
extent not previously disclosed to the Collateral Agent, a listing of any Recordable Intellectual Property acquired by the Company or any Subsidiary Guarantor since the date of the most recent list delivered pursuant to this clause (y) (or, in the
case of the first such list so delivered, since the Closing Date) (and concurrently with or promptly after delivery of such certificate, the Company shall deliver or cause to be delivered signed intellectual property security agreements with respect
to any Recordable Intellectual Property listed thereon), (iii) to the extent that the Company has designated any Unrestricted Subsidiary, the related consolidating financial statements reflecting the adjustments necessary to eliminate the accounts
of Unrestricted Subsidiaries (if any) from such consolidated financial statements, (iv) a description of the Designated Bilateral Letters of Credit issued during the preceding fiscal quarter and (v) in the case of a certificate delivered
concurrently with the delivery of the financial statements referred to in Section 6.01(a), beginning with the fiscal year ending December 31, 2017, such certificate shall also set forth the Company’s calculation of Excess Cash Flow; 

(c)    promptly after available, and in any event no later than 90 days after the end of each fiscal year of the Company,
a reasonably detailed consolidated budget for the following fiscal year in form and substance reasonably satisfactory to the Administrative Agent (collectively, the “Projections”), which Projections shall in each case be accompanied
by a certificate of a Responsible Officer stating that such Projections are based on good faith estimates and assumptions believed by such Responsible Officer to be reasonable at the time made (it being recognized that such financial information as
it relates to future events is not to be viewed as fact and that actual results during the period or periods covered by such financial information may differ from the projected results set forth therein by a material amount); 

(d)    within 45 days (or, in the case of the fourth fiscal quarter of any fiscal year, 90 days) after the end of
each fiscal quarter of the Company, a narrative discussion and analysis of the financial condition and results of operations of the Company and its Restricted Subsidiaries for such fiscal quarter and for the period from the beginning of the then
current fiscal year to the end of such fiscal quarter, as compared to the comparable periods of the previous fiscal year; 

  
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 (e)    within five days after the same are sent, copies of all financial
statements and reports that the Company generally sends to the holders of any class of its debt securities or public equity securities and, within five days after the same are filed, copies of all financial statements and reports that the Company
may make to, or file with, the SEC; 
 (f)    promptly after the request by any Lender through the Administrative Agent,
all documentation and other information that such Lender reasonably requests in order to comply with its ongoing obligations under applicable “know your customer” and anti-money laundering rules and regulations, including the USA PATRIOT
Act; 
 (g)    to the extent required under Section 6.05, annual renewals of any flood insurance policy or force-placed
flood insurance policy; and 
 (h)    promptly, from time to time, such other information regarding the operations,
business affairs and financial condition of the Company or any Restricted Subsidiary, or compliance with the terms of any Loan Document, as the Administrative Agent or any Lender through the Administrative Agent may reasonably request;
provided that neither the Company nor any of its Restricted Subsidiaries shall be required to furnish such other information to the extent that the Company or such Restricted Subsidiary has determined in good faith that (x) it is prohibited
from furnishing such other information by a Requirement of Law or a Contractual Obligation (it being understood and agreed that this Section 6.02(h) shall not be applied to augment the periodic reporting obligations of the Company under this
Agreement), (y) constitutes non-financial trade secrets or non-financial proprietary information or (z) such information is subject to attorney-client or similar privilege or constitutes attorney work product. 

As to any information contained in materials furnished pursuant to Section 6.02(e), the Company shall not be separately required to furnish
such information under Section 6.01(a) or (b) or under paragraph (d) above, but the foregoing shall not be in derogation of the obligation of the Company to furnish the information and materials described in Section 6.01(a) or (b) or under paragraph
(d) above at the times specified therein. Documents required to be delivered pursuant to Section 6.01(a) or (b) or Section 6.02(b), (d) or (e) (to the extent any such documents are included in materials otherwise filed with the SEC) may be
delivered electronically and shall be deemed to have been delivered on the date (i) on which the Company posts such documents, or provides a link thereto, on the Company’s website on the Internet and gives written notice thereof to the
Administrative Agent; or (ii) on which such documents are posted on a U.S. government website or on the Company’s behalf on an Internet or intranet website, if any, in each case, to which the Administrative Agent has access (whether a
commercial, third-party website or whether sponsored by the Administrative Agent). 
 Section 6.03.    Payment of
Taxes. Pay, discharge or otherwise satisfy at or before maturity or before they become delinquent, as the case may be, all its obligations and liabilities in respect of taxes, assessments and governmental charges or levies imposed upon it
or upon its income or profits or in respect of its property, except (x) where the amount or validity thereof is currently being contested in good faith by appropriate proceedings and reserves in conformity

  
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with GAAP with respect thereto have been provided on the books of the Company or its Restricted Subsidiaries, as the case may be or (y) as could not reasonably be expected to have, individually
or in the aggregate, a Material Adverse Effect. 
 Section 6.04.    Conduct of Business and Maintenance of Existence;
Compliance. (i) Preserve, renew and keep in full force and effect its organizational existence in its jurisdiction of organization, except (other than with respect to the Company) where the failure to do so, individually or in the
aggregate, could not reasonably be expected to have a Material Adverse Effect, (ii) take all reasonable action to maintain all rights, privileges and franchises necessary or desirable in the normal conduct of its business, except, in each case of
clauses (i) and (ii), as otherwise permitted by Section 7.04 of this Agreement or Section 5.04 of the Guarantee and Collateral Agreement and except, in the case of clause (ii), to the extent that failure to do so, individually or in the
aggregate, could not reasonably be expected to have a Material Adverse Effect; and (iii) comply with all Contractual Obligations and Requirements of Law (x) in the case of the USA PATRIOT Act and the FCPA, in all material respects and (y) otherwise,
except to the extent that failure to comply therewith could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

Section 6.05.    Maintenance of Property; Insurance. (i) Keep all Property and systems necessary in its
business in good working order and condition, ordinary wear and tear excepted and except where failure to do so could individually or in the aggregate not reasonably be expected to have a Material Adverse Effect, (ii) maintain with financially sound
and reputable insurance companies insurance on all its Property in at least such amounts and against at least such risks (but including in any event public liability, product liability and business interruption) as are usually insured against in the
same general area by companies engaged in the same or a similar business and (iii) notwithstanding anything herein to the contrary, with respect to each Mortgaged Property, if at any time the area in which the buildings and other improvements (as
described in the applicable Mortgage) are located is designated a “flood hazard area” in any Flood Insurance Rate Map published by the Federal Emergency Management Agency (or any successor agency), obtain flood insurance from such
providers, on such terms and in such reasonable total amount as the Collateral Agent and the Co-Collateral Agent may from time to time reasonably require, and otherwise to ensure compliance with the NFIP as set forth in the Flood
Laws. Following the Closing Date, the Company shall deliver to the Collateral Agent and the Co-Collateral Agent annual renewals of each flood insurance policy or annual renewals of each force-placed flood insurance policy required pursuant to
any Loan Document, as applicable. In connection with any amendment to this Agreement pursuant to which any increase, extension, or renewal of Loans is contemplated (each, a “MIRE Amendment”), the Company shall cause to be
delivered to the Collateral Agent and the Co-Collateral Agent for any Mortgaged Property, a Flood Determination Form, Company Notice and Evidence of Flood Insurance, as applicable; provided that no such MIRE Amendment shall be effective until the
earlier to occur of (a) 30 days from the date the Collateral Agent and the Co-Collateral Agent are given notice of a MIRE Amendment and (b) the Collateral Agent and the Co-Collateral Agent confirming all flood insurance diligence has been completed
to the reasonable satisfaction of the Collateral Agent and the Co-Collateral Agent. 

  
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 Section 6.06.    Inspection of Property; Books and Records; Discussions;
Maintenance of Ratings. (a) (i) Keep proper books of records and account in which true and correct entries in conformity with GAAP and all Requirements of Law shall be made of all dealings and transactions in relation to its business and
activities and (ii) permit the Administrative Agent or any representatives thereof and, after the occurrence and during the continuance of an Event of Default, the Administrative Agent and representatives of the Administrative Agent or any Lender,
to visit and inspect any of its properties and examine and make abstracts from any of its books and records at any reasonable time and as often as may reasonably be desired and to discuss the business, operations, properties and financial and other
condition of the Company and its Restricted Subsidiaries with officers and employees of the Company and its Restricted Subsidiaries and with its independent certified public accountants; provided that unless an Event of Default shall have
occurred and be continuing, (x) the Administrative Agent and its representatives shall not have the right to make visits or inspections on more than two occasions during any fiscal year and (y) no more than one visit by the Administrative Agent or
its representatives in any fiscal year shall be at the expense of the Company. Notwithstanding the foregoing, the Company and its Restricted Subsidiaries shall not be required to disclose any information to the extent that the Company or such
Restricted Subsidiary has determined in good faith that (x) it is prohibited from furnishing such other information by a Requirement of Law or a Contractual Obligation (it being understood and agreed that this Section 6.06 shall not be applied to
augment the periodic reporting obligations of the Company under this Agreement), (y) constitutes non-financial trade secrets or non-financial proprietary information or (z) such information is subject to attorney-client or similar privilege or
constitutes attorney work product. 
 (b)    Use commercially reasonable efforts to cause the Term Loan Facility to be
continuously rated (but no specific rating) by S&P and Moody’s on a public basis, and use commercially reasonable efforts to maintain a public corporate rating (but no specific rating) from S&P and a public corporate family rating (but
no specific rating) from Moody’s, in each case in respect of the Company. 
 Section
6.07.    Notices. Promptly give notice to the Administrative Agent (on behalf of and for distribution to the applicable Lenders) of: 

(a)    the occurrence of any Default or Event of Default; 

(b)    any (i) default or event of default under any Contractual Obligation of the Company or any of its Restricted
Subsidiaries (and in the case of any such default or event of default other than by the Company or any of its Restricted Subsidiaries, which the Company has actual knowledge of) or (ii) litigation, investigation or proceeding which may exist at any
time between the Company or any of its Restricted Subsidiaries and any Governmental Authority, that in the case of either (i) or (ii) of this clause (b) could reasonably be expected to have a Material Adverse Effect; 

(c)    any litigation or proceeding directly affecting the Company or any of its Restricted Subsidiaries (i) which,
individually or in the aggregate, has had, or could reasonably be expected to have, a Material Adverse Effect or (ii) which relates to any Loan Document; and 

(d)    the following events, as soon as possible and in any event within 30 days after the Company knows or has
reason to know thereof: (i) the occurrence of any Reportable Event with respect to any Plan that is a Single Employer Plan, a failure to make any required contribution to 

  
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a Plan, the creation of any Lien in favor of the PBGC or a Plan on the assets of the Company or any withdrawal by the Company or any Commonly Controlled Entity from, or the termination,
Reorganization or Insolvency of, any Multiemployer Plan or (ii) the institution of proceedings or the taking of any other action by the PBGC or the Company or any Commonly Controlled Entity or any Multiemployer Plan with respect to the withdrawal
from, or the termination, Reorganization or Insolvency of, any Plan or Multiemployer Plan, and in each case in clauses (i) and (ii) above, such event or condition, together with all other such events or conditions, if any, could reasonably be
expected to have a Material Adverse Effect; 
 (e)    any development or event that has had or could reasonably be
expected to have a Material Adverse Effect. 
 Each notice pursuant to this Section 6.07 shall be accompanied by a statement of a
Responsible Officer setting forth details of the occurrence referred to therein and stating what action, if any, the Company or the relevant Restricted Subsidiary proposes to take with respect thereto. 

Section 6.08.    Additional Collateral, Etc. (a) With respect to any Property acquired after the Closing Date
by the Company or any Subsidiary Guarantor (other than (w) any interest in real property or any Property described in paragraph (b) of this Section 6.08, (x) any Property subject to a Lien permitted by Section 7.03(g) or (y) Property
acquired by an Excluded Subsidiary) as to which the Collateral Agent, for the benefit of the Secured Parties, does not have a perfected Lien, promptly (i) execute and deliver to the Collateral Agent such amendments to the Guarantee and Collateral
Agreement and such other documents (including intellectual property security agreements) as the Collateral Agent reasonably deems necessary or advisable to grant to the Collateral Agent, for the benefit of the Secured Parties, a security interest in
such Property (to the extent such Property is of a type that would constitute Collateral as described in the Guarantee and Collateral Agreement) and (ii) take all actions reasonably necessary or advisable to grant to the Collateral Agent, for the
benefit of the Secured Parties, a perfected first priority security interest (subject, except in the case of the pledge of Capital Stock of any Subsidiary, to Liens permitted by Section 7.03) in such Property (to the extent required by the Guarantee
and Collateral Agreement), including without limitation, the filing of Uniform Commercial Code financing statements and/or intellectual property security agreements as may be required by the Guarantee and Collateral Agreement or as may be reasonably
requested by the Collateral Agent. 
 (b)    With respect to any fee simple interest in any real property having a value
(together with improvements thereof) of at least $5,000,000 acquired after the Closing Date by the Company or any Subsidiary Guarantor (or owned by any Person that becomes a Subsidiary Guarantor), the Company shall notify the Collateral Agent and
the Co-Collateral Agent promptly after the Borrower obtains knowledge thereof, to permit the Collateral Agent and the Co-Collateral Agent to comply with the Flood Insurance Laws, and within 90 days following the date of such acquisition of such
real property or the date on which such Person becomes a Subsidiary Guarantor (or such longer period as the Collateral Agent and the Co-Collateral Agent shall reasonably agree or as may be reasonably required to permit completion of flood insurance
diligence by the Collateral Agent and the Co-Collateral Agent), (i) execute and deliver a Mortgage in favor of the Collateral Agent, for the benefit of the Secured Parties, covering such 

  
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real property, (ii) if requested by the Collateral Agent, deliver to the Collateral Agent (A) a lender’s title insurance policy, in form and substance reasonably acceptable to the
Collateral Agent, insuring such Mortgage as a first lien on such Mortgaged Property (subject only to Liens permitted by Section 7.03), (B) an American Land Title Association/American Congress of Surveying and Mapping (ALTA/ACSM) form of survey
by a duly registered and licensed land surveyor for which all necessary fees have been paid dated a date reasonably acceptable to the Collateral Agent, certified to the Collateral Agent and the title company in a manner reasonably satisfactory to
the Collateral Agent, (C) to the extent required by Financial Institutions Reform, Recovery, and Enforcement Act of 1989, Pub.L. 101-73, 103 Stat. 183, enacted August 9, 1989, or any other applicable law, an appraisal, and (D) an
opinion of local counsel reasonably satisfactory to the Collateral Agent. No later than 30 days (or such later date as the Collateral Agent or Co-Collateral Agent shall reasonably agree) prior to the date on which a Mortgage is executed
and delivered pursuant to this Section 6.08(b), in order to comply with the Flood Laws, the Collateral Agent and the Co-Collateral Agent shall have received the following documents (collectively, the “Flood Documents”), in form
and substance reasonably satisfactory thereto: (1) a completed standard “life of loan” flood hazard determination form (a “Flood Determination Form”), (2) if the improvement(s) to the applicable improved
real property is located in a special flood hazard area, a notification to the Company (“Company Notice”) and (if applicable) notification to the Company that flood insurance coverage under the National Flood Insurance Program
(“NFIP”) is not available because the community does not participate in the NFIP, (3) documentation evidencing the Company’s receipt of the Company Notice (e.g., countersigned Company Notice, return receipt of certified
U.S. Mail, or overnight delivery), and (4) if the Company Notice is required to be given and flood insurance is available in the community in which the property is located, evidence of flood insurance reasonably satisfactory to the Collateral
Agent and the Co-Collateral Agent (any of the foregoing being “Evidence of Flood Insurance”). Notwithstanding anything to the contrary contained herein, if either the Collateral Agent or the Co-Collateral Agent are unable or
fail to complete flood insurance diligence to its reasonable satisfaction so as to permit the Company or any Subsidiary Guarantor to deliver a Mortgage as required by this Section 6.08(b), then so long as the Company or such Subsidiary Guarantor
otherwise has complied with this Section 6.08(b), the Company or such Subsidiary Guarantor shall have no obligation hereunder to deliver such Mortgage (and no Event of Default shall be deemed to arise from the Company’s or such Subsidiary
Guarantor’s failure to deliver such Mortgage) unless and until both the Collateral Agent and the Co-Collateral Agent completes such flood insurance diligence to their reasonable satisfaction (after which the Company or such Subsidiary Guarantor
shall have a period of 30 additional days following written notification thereof to execute and deliver such Mortgage). 
 If at any
time while this Agreement is in effect Bank of America, N.A. ceases to be a Lender, then there shall no longer be a Co-Collateral Agent hereunder, and all consent or approval rights of Co-Collateral Agent contained in this Agreement (including,
without limitation, in Section 6.05 and this Section 6.08(b)) shall be deemed to be satisfied by the consent or approval of the Collateral Agent; provided, however, that at any time thereafter, the Required Lenders may elect to
designate and appoint a successor Co-Collateral Agent, which successor Co-Collateral Agent shall be (i) a Lender, (ii) a bank with an office in New York, New York, or an Affiliate of any such bank, and (iii) reasonably satisfactory to the
Company, in which event such successor Co-Collateral Agent shall become vested with all the rights, powers, privileges and duties of the Co-Collateral Agent hereunder. 

  
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 (c)    With respect to any new Subsidiary (other than an Excluded Subsidiary)
created or acquired after the Closing Date (which, for the purposes of this paragraph, shall include any existing Subsidiary that ceases to be an Excluded Subsidiary), by the Company or any of its Restricted Subsidiaries (other than by an Excluded
Subsidiary), within 45 days following the date of such creation or acquisition (or such longer period as the Collateral Agent shall reasonably agree), (i) execute and deliver to the Collateral Agent such amendments to the Guarantee and
Collateral Agreement as the Collateral Agent deems necessary or advisable to grant to the Collateral Agent, for the benefit of the Secured Parties, a perfected first priority security interest in the Capital Stock of such new Subsidiary that is
owned by the Company or any Subsidiary Guarantor (to the extent such Capital Stock is of a type that would constitute Collateral as described in the Guarantee and Collateral Agreement), (ii) deliver to the Collateral Agent the certificates
representing such Capital Stock (to the extent such Capital Stock is of a type that would constitute Collateral as described in the Guarantee and Collateral Agreement), together with undated stock powers, in blank, executed and delivered by a duly
authorized officer of the Company or such Subsidiary Guarantor, as the case may be and (iii) cause such new Subsidiary (A) to become a party to the Guarantee and Collateral Agreement and (B) to take such actions necessary or advisable to grant
to the Collateral Agent for the benefit of the Secured Parties a perfected first priority security interest (subject, except in the case of the pledge of any Capital Stock of any Subsidiary, to Liens permitted by Section 7.03) in the Collateral
described in the Guarantee and Collateral Agreement with respect to such new Subsidiary to the extent required by the Guarantee and Collateral Agreement, including, without limitation, the filing of Uniform Commercial Code financing statements and
intellectual property security agreements in such jurisdictions as may be required by the Guarantee and Collateral Agreement or by law and if reasonably requested by the Collateral Agent, with respect to any Subsidiary other than an Immaterial
Subsidiary, deliver to the Collateral Agent customary legal opinions relating to the matters described above. 

(d)    The Co-Collateral Agent shall not have any duties or obligations except those expressly set forth in Section 6.05
and Section 6.08. Without limiting the generality of the foregoing, the Co-Collateral Agent is not subject to any fiduciary or other implied duties, nor has any duty or obligation to any Lender or participant or any other Person as a
result of the Co-Collateral Agent’s rights under Section 6.05 and Section 6.08. 
 Section 6.09.    Further
Assurances. From time to time execute and deliver, or cause to be executed and delivered, such additional instruments, certificates or documents, and take such actions, as the Collateral Agent may reasonably request for the purposes of
implementing or effectuating the provisions of this Agreement and the other Loan Documents, or of more fully perfecting or renewing the rights of the Collateral Agent and the Lenders with respect to the Collateral (or with respect to any additions
thereto or replacements or proceeds thereof or with respect to any other property or assets hereafter acquired by the Company or any Restricted Subsidiary which may be deemed to be part of the Collateral) pursuant hereto or thereto. Upon the
exercise by the Collateral Agent or any Lender of any power, right, privilege or remedy pursuant to this Agreement or the other Loan Documents which requires any consent, approval, recording, qualification or authorization of any Governmental
Authority, the Company will execute and deliver, or will cause the execution and delivery of, all applications, certifications, instruments and other documents and papers that the Collateral Agent or such Lender may be required to obtain from the
Company or any of its Restricted Subsidiaries for such governmental consent, approval, recording, qualification or authorization. 

  
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 Section 6.10.    Use of Proceeds. The proceeds of the Term Loans,
together with the proceeds of the Revolving Credit Loans made on the Closing Date, shall be solely used (x) to refinance all of the loans and commitments outstanding under the Existing Credit Agreement, (y) to redeem, repurchase and/or satisfy and
discharge the 2018 Senior Notes and (z) in each case, to pay related fees and expenses. The proceeds of the Revolving Credit Loans and the Letters of Credit shall be used after the Closing Date to (x) fund working capital and for general
corporate purposes of the Company and its subsidiaries (including capital expenditures and Permitted Acquisitions) and (y) pay fees and expenses in connection with the Transactions. 

Section 6.11.    Designation of Subsidiaries. The board of directors of the Company may at any time designate
any Restricted Subsidiary (other than an Approved Borrower) as an Unrestricted Subsidiary or any Unrestricted Subsidiary as a Restricted Subsidiary; provided that (a) immediately before and after such designation, no Default or Event of
Default shall have occurred and be continuing, (b) the Company shall be in compliance with the Financial Covenants on a Pro Forma Basis as of the last day of the most recently ended Test Period at the time of such designation and (c) at least ten
days prior to the designation of any Unrestricted Subsidiary as a Restricted Subsidiary, the Lenders shall have received all documentation and other information required by bank regulatory authorities under applicable “know-your-customer”
and anti-money laundering requirements, including the PATRIOT Act, with respect to such Subsidiary. The designation of any Subsidiary as an Unrestricted Subsidiary shall constitute an Investment by the Company and its Subsidiaries therein at
the date of designation in an amount set forth in the definition of “Investment”. The designation of any Unrestricted Subsidiary as a Restricted Subsidiary shall constitute the incurrence at the time of designation of any Indebtedness
or Liens of such Subsidiary existing at such time. 
 Section 6.12.    Post Closing Matters.

(a)    By the date that is 90 days after the Closing Date, as such time period may be extended, from time to time, in the
Administrative Agent’s reasonable discretion, not to be unreasonably withheld or delayed, the applicable Loan Party shall deliver to the Administrative Agent, unless otherwise agreed by the Administrative Agent in its sole reasonable
discretion, the following items, in form and substance reasonably satisfactory to the Administrative Agent: (i) such amendments to the Mortgages of such Loan Party to the extent reasonably necessary to effectuate the transactions
contemplated hereby, (ii) mortgage modification or bring-down endorsements to the applicable loan policies of title insurance, to the extent such endorsements are reasonably available in the applicable jurisdiction, confirming that each of such
policies remains in full force and effect notwithstanding the amendment of the obligations secured by the applicable Mortgage, and (iii) such other documentation as may be reasonably requested by the Administrative Agent in connection therewith
(including local counsel opinions solely with respect to enforceability of any such amendments to the Mortgages, or to the extent that amendments are not reasonably necessary, confirming that the Mortgages continue in full force and effect as
enforceable Liens securing the obligations of the applicable Loan Party, as such obligations have been amended). Insofar as these properties do not have a value (together with improvements) in excess of $5 million, the Lenders hereby instruct
the Administrative Agent to, 

  
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without further action by the Lenders, within 90 days after the Closing Date release and terminate those certain existing Mortgages encumbering properties located at 200 South Jackson Road,
Ludington, MI, and 155 Burson Street, East Stroudsburg, PA. 
 (b)    No later than 90 days subsequent to the Closing
Date (or such later date as may be reasonably agreed to by the Administrative Agent), the Company shall execute and deliver, or cause to be executed and delivered, such instruments, certificates or documents, and take such actions, as the Collateral
Agent may reasonably request in order to create in favor of the Collateral Agent, for the benefit of the Secured Parties, a legal, valid and enforceable security interest in, all right, title of the Company in the aircraft collateral described in
Schedule 6.12 under the heading “Civil Aircraft Airframe and Engines Collateral” and proceeds thereof, which Lien shall be prior to all other Liens on such aircraft collateral in existence on the date hereof except for Liens
permitted by the Credit Agreement and in connection therewith, cause to be delivered to the Collateral Agent customary legal opinions relating to the matters described above. 

(c)    No later than 20 days subsequent to the Closing Date (or such later date as may be reasonably agreed to by the
Administrative Agent), the Company shall cause to be delivered to the Collateral Agent the promissory notes described in Schedule 6.12 under the heading “Notes Collateral”, in each case, either endorsed in blank or accompanied by an
executed transfer form in blank by the pledgor thereof. 
 ARTICLE 7 

NEGATIVE COVENANTS 

The Company hereby agrees that, so long as the Commitments remain in effect, any Letter of Credit remains outstanding (other than any Letter
of Credit that has been Cash Collateralized or backstopped by a back-stop Letter of Credit in a manner reasonably satisfactory to the Administrative Agent and the applicable Issuing Lender) or any Loan or other amount is owing to any Lender or any
Agent hereunder or under any other Loan Document, the Company shall not, and shall not permit any of its Restricted Subsidiaries to, directly or indirectly: 

Section 7.01.    Financial Covenants. 

(a)    permit the Total Net Leverage Ratio on a Pro Forma Basis as at the last day of any Test Period to exceed (x) in
the case of any Test Period ended on or before December 31, 2016, 4.00:1.00, (y) in the case of any Test Period ended after December 31, 2016 and on or before December 31, 2017, 3.75:1.00 and (z) in the case of any Test Period
ending after December 31, 2017, 3.50:1.00; provided that, notwithstanding the foregoing, the maximum permitted Total Net Leverage Ratio set forth in clauses (x) – (z) above shall be increased by 0.50 for a period of one year
following the consummation of any Significant Acquisition; provided, further, that such increase shall not be cumulative in the event that more than one Significant Acquisition is consummated within the same 12-month period; and 

(b)    without the written consent of the Majority Revolving Credit Facility Lenders, permit the ratio of Consolidated
EBITDA to Consolidated Interest Charges, on a Pro Forma Basis as at the last day of any Test Period to be less than 3.00:1.00. 

  
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 Section 7.02.    Limitation on Indebtedness. Create, incur,
assume or suffer to exist any Indebtedness, except: 
 (a)    (i) Indebtedness of any Loan Party pursuant to any Loan
Document (including Indebtedness incurred pursuant to Section 2.24, Section 2.29 or Section 2.30) and (ii) up to $25,000,000 of additional Initial Revolving Credit Commitments hereunder; 

(b)    Indebtedness of the Company to any Restricted Subsidiary or of any Restricted Subsidiary to the Company or any
other Restricted Subsidiary, in each case so long as any such Indebtedness owing by a Loan Party to a non-Loan Party is subordinated to the Obligations pursuant to an Affiliate Subordination Agreement; 

(c)    Indebtedness (including without limitation, Capital Lease Obligations) incurred to finance the acquisition,
construction, repair, replacement or improvement of fixed or capital assets; provided that such Indebtedness is incurred concurrently or within 270 days following the acquisition, construction, repair, replacement or improvement of the
applicable asset; provided, further that the aggregate outstanding principal amount of all such Indebtedness shall not exceed $35,000,000 at any time outstanding, and Permitted Refinancing thereof (including successive refinancings);

 (d)    Indebtedness outstanding on the Closing Date and listed on Schedule 7.02(d) and any Permitted Refinancing
thereof (including successive refinancings); 
 (e)    Guarantee Obligations of the Company or any of its Restricted
Subsidiaries in respect of Indebtedness permitted under this Section 7.02, provided, that no Guarantee Obligations of any Restricted Subsidiary of any Indebtedness permitted under Section 7.02(j) shall be permitted unless such Restricted
Subsidiary is a Subsidiary Guarantor; 
 (f)    Indebtedness in respect of the 2018 Notes pending their satisfaction and
discharge, or redemption and/or repurchase with the proceeds of the Initial Term Loans; 
 (g)    Credit Agreement
Refinancing Debt; 
 (h)    Indebtedness incurred to finance deferred insurance premiums in the ordinary course of
business; 
 (i)    Indebtedness of any Restricted Subsidiary which is not a Subsidiary Guarantor; provided that
the aggregate principal amount of Indebtedness outstanding at any one time pursuant to this clause shall not exceed $75,000,000; 

(j)    Indebtedness of any Loan Party, so long as (i) such Indebtedness has no scheduled principal payments, prepayments
or maturity, or any mandatory prepayment, redemption or repurchase provisions or sinking fund obligations (except customary ones, including “AHYDO” catch-up payments and in the context of asset sales, casualty events or a change of
control), in each case prior to the Latest Maturity Date at the time of incurrence and (ii) the other terms and conditions of such Indebtedness (excluding pricing, premiums and optional prepayment or optional redemption provisions and excluding
terms and conditions applicable only after the Latest Maturity Date and terms and conditions otherwise reasonably acceptable to the 

  
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Administrative Agent), when taken as a whole, are not materially more restrictive on the Company and the Restricted Subsidiaries than the terms and conditions applicable hereunder, unless, to the
extent such terms and conditions, when taken as a whole, are more restrictive than those terms and conditions applicable hereunder, such terms and conditions are added pursuant to an amendment to this Agreement executed by the Company and the
Administrative Agent; provided that at the time of the incurrence of such Indebtedness (x) no Default or Event of Default exists or will exist after giving effect to incurrence of such Indebtedness or the use of proceeds thereof, and (y) the
Company would at the time of incurrence thereof be in compliance with the Financial Covenants, determined on a Pro Forma Basis as of the last day of the most recently ended Test Period; and Permitted Refinancings thereof (including successive
refinancings); 
 (k)    Permitted Acquisition Indebtedness; provided that at the time such Indebtedness is
incurred and/or assumed, (x) no Default or Event of Default exists or will exist after giving effect to incurrence of such Indebtedness or the use of proceeds thereof and (y) the Company would be in compliance with the Financial Covenants,
determined on a Pro Forma Basis as of the last day of the most recently ended Test Period; and any Permitted Refinancing of the foregoing (including successive refinancings); 

(l)    Indebtedness under Hedge Agreements permitted under Section 7.15; 

(m)    Indebtedness in respect of the Designated Bilateral Letters of Credit not exceeding an aggregate amount of
$300,000,000 at any time outstanding; 
 (n)    Indebtedness in respect of cash management services, including treasury,
depositary, credit, purchasing or debit card, electronic funds transfer and other cash management arrangements (including commercial cards and working capital lines of credit), overdraft or similar facilities incurred in the ordinary course of
business; 
 (o)    [reserved]; 

(p)    Indebtedness of any Loan Party in an aggregate principal amount (for all Loan Parties) not to exceed $50,000,000 at
any time outstanding; 
 (q)    Indebtedness arising under any letter of credit, performance, insurance, return-of money
or surety bond or similar obligations or bank guarantees or similar arrangements, or Indebtedness arising under any indemnity agreement relating thereto, in each case entered into in the ordinary course of business; 

(r)    Indebtedness resulting from endorsement of negotiable instruments for collection in the ordinary course of
business; 
 (s)    Indebtedness arising under indemnity agreements to title insurers to cause such title insurers to
issue to the Collateral Agent mortgagee title insurance policies; 
 (t)    Indebtedness arising with respect to
customary indemnification and purchase price adjustment obligations incurred in connection with Asset Sales and Permitted Acquisitions permitted hereunder; 

  
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 (u)    to the extent constituting Indebtedness, earnout obligations and other
contingent consideration obligations incurred in connection with Permitted Acquisitions and Investments permitted under this Agreement; 

(v)    Indebtedness incurred by the Company or any of its Restricted Subsidiaries to current or former employees,
directors, managers and consultants thereof, their respective estates, spouses or former spouses, in each case to purchase or redeem the Capital Stock of the Company or its Subsidiaries held by such current or former employee, director, manager,
consultant, estate, spouse or former spouse, in each case to the extent permitted by Section 7.06(c); 

(w)    Indebtedness of Foreign Subsidiaries in respect of discounting or factoring of receivables (and relating assets)
pursuant to factoring arrangements entered into in the ordinary course of business; 
 (x)    to the extent constituting
Indebtedness, obligations under deferred compensation arrangements incurred in the ordinary course of business; and 

(y)    Indebtedness in the form of senior secured notes issued in lieu of loans or commitments under an Incremental
Facility in an aggregate principal amount, together with any Incremental Facilities incurred pursuant to Section 2.24, not to exceed the Incremental Cap Amount; provided that (i) no Event of Default shall have occurred and be continuing
immediately prior to or after giving effect to the incurrence of such Indebtedness, (ii) such Indebtedness shall not mature earlier than the Latest Maturity Date applicable to any Loan or Commitment then outstanding, (iii) such Indebtedness shall
not have a weighted average life to maturity shorter than the weighted average life to maturity of the existing Term Loans, (iv) such Indebtedness shall be subject to a Customary Intercreditor Agreement, (v) in the case of any such Indebtedness in
the form of senior secured notes that are pari passu with the Initial Term Loans in right of payment and with respect to security, if the Effective Yield for such Indebtedness as of the date of incurrence of such Indebtedness exceeds the sum of the
Effective Yield then applicable to the Initial Term Loans and 0.50%, then the Applicable Margin then in effect for such Initial Term Loans shall automatically be increased by the Term Loan Yield Differential, effective upon the incurrence of such
Indebtedness; provided that any differential in Effective Yield on account of a differential in interest rate floors shall be required only to the extent an increase in the interest rate floor applicable to such Initial Term Loans would cause
an increase in the interest rate then in effect thereunder, and in such case the interest rate floor (but not the interest rate margin) applicable to such Initial Term Loans shall be increased to the extent of such differential between interest rate
floors and (vi) such Indebtedness shall have terms and conditions (other than as otherwise specified in this clause (y)) that in the good faith determination of the Borrower are not materially less favorable (when taken as a whole) to the
Borrowers than the terms and conditions of the Loan Documents (when taken as a whole) other than (x) maturity date (except as specified in clauses (ii) and (iii) above), pricing (including interest rate floors, interest rate margin,
original issue discount, upfront fees and call protection) and amortization, (y) immaterial terms and (z) terms and conditions that are either only applicable after the Latest Maturity Date of any existing Term Loans or, to the extent such
terms (taken as a whole) are more favorable to the holders of such notes than those applicable to the existing Term Loans, are added for the benefit of the Lenders of the existing Term Loans pursuant to an amendment to this Agreement executed by the
Company and the Administrative Agent. 

  
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 Section 7.03.    Limitation on Liens. Create, incur, assume or
suffer to exist any Lien upon any of its Property, whether now owned or hereafter acquired, except for: 
 (a)    Liens
for taxes not overdue for a period longer than 30 days (or, if shorter, the grace period applicable thereto) or that are being contested in good faith by appropriate proceedings and for which adequate reserves with respect thereto are
maintained on the books of the Company or its Restricted Subsidiaries, as the case may be, in conformity with GAAP; 

(b)    Liens of landlords arising by statute, inchoate, statutory or construction liens and liens of suppliers, mechanics,
carriers, materialmen, warehousemen, producers, operators or workmen and other Liens imposed by law, in each case created in the ordinary course of business for amounts not more than 90 days past due or that are being contested in good faith by
appropriate proceedings; 
 (c)    pledges or deposits in the ordinary course of business in connection with
workers’ compensation, unemployment insurance and other social security legislation; 
 (d)    pledges or deposits
to secure the performance of or in connection with bids, contracts (other than for borrowed money), sales, leases (other than in respect of Capital Lease Obligations), statutory obligations, surety, appeal and customs bonds, performance bonds and
other obligations of a like nature, in each case incurred in the ordinary course of business; 
 (e)    minor
encroachments, easements, rights-of-way, restrictions and other similar encumbrances incurred in the ordinary course of business that, in the aggregate, do not materially interfere with the ordinary conduct of the business of the Company or any of
its Restricted Subsidiaries; 
 (f)    Liens in existence on the Closing Date listed on
Schedule 7.03(f); 
 (g)    Liens securing Indebtedness of the Company or any Restricted
Subsidiary incurred pursuant to Section 7.02(c), provided that (i) such Liens shall be created within 270 days of the acquisition, construction, repair, replacement or improvement of the applicable assets, (ii) such Liens do not at
any time encumber Property (except for additions and accessions to such Property) other than the Property financed by such Indebtedness and the proceeds and products thereof, provided that individual financings of equipment provided by one
lender may be cross collateralized to other financings of equipment provided by such lender, and (iii) with respect to Capital Lease Obligations, such Liens do not at any time extend to or cover any assets (except for additions and accessions to
such assets) other than the assets subject to such Capital Lease Obligations and the proceeds and products thereof; provided that individual financings of equipment provided by one lender may be cross collateralized to other financings of
equipment provided by such lender; 
 (h)    Liens securing Permitted Assumed Acquisition Indebtedness permitted
pursuant to Section 7.02(k); provided that (w) the Senior Secured Net Leverage Ratio shall not exceed 2.00:1.00 on a Pro Forma Basis as of the last day of the most recently ended Test Period, (x) if

  
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such Liens are on Collateral, such Lien shall be subject to a Customary Intercreditor Agreement, and (y) such Lien was not created in anticipation of or in connection with the Permitted
Acquisition pursuant to which such Person became a Subsidiary of the Company; 
 (i)    Liens in respect of discounting
or factoring of receivables (and relating assets) by Foreign Subsidiaries pursuant to factoring or other receivable sale arrangements entered into in the ordinary course of business; 

(j)    any Liens (i) created pursuant to the Security Documents, (ii) created to facilitate the Transactions or (iii)
granted in favor of an Issuing Lender pursuant to arrangements designed to eliminate such Issuing Lender’s risk with respect to any Defaulting Lender’s or Defaulting Lenders’ participation in the Letters of Credit, as contemplated by
Section 2.26; 
 (k)    any interest or title of a lessor under any operating lease entered into by the Company or any
Subsidiary in the ordinary course of its business and covering only the assets so leased; 
 (l)    [Reserved]; 

(m)    Liens arising out of judgments or awards not constituting an Event of Default under paragraph (h) of Article
8; 
 (n)    Liens securing Indebtedness incurred to finance deferred insurance premiums permitted under paragraph (h)
of Section 7.02, provided that such Liens shall be permitted only with respect to unearned premiums and dividends which may become payable under the relevant insurance policies and loss payments which reduce the unearned premiums under such
insurance policies; 
 (o)    any Lien that is customary in the banking industry and constituting a right of set-off,
revocation, refund or chargeback under a deposit agreement or under the Uniform Commercial Code of a bank or other financial institution where deposits are maintained by the Company or any Subsidiary; 

(p)    Liens in favor of customs and revenue authorities arising as a matter of law to secure payment of customs duties in
connection with the importation of goods; 
 (q)    Liens on Property of non-Loan Parties securing permitted obligations
of such non-Loan Parties; 
 (r)    Liens securing obligations not to exceed $50,000,000 at any one time; 

(s)    any modifications, replacements, renewals, or extensions of any Lien permitted by paragraphs (f) or (h) above;
provided, that (i) any such modification, replacement, renewal or extension Lien does not extend to any additional Property other than (A) after-acquired Property that is affixed or incorporated into the property covered by such Lien and
(B) proceeds and products thereof and (ii) the replacement, renewal, extension or refinancing of the obligations secured or benefited by such Liens, to the extent constituting Indebtedness, is permitted by Section 7.02; 

  
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 (t)    Liens on cash collateral securing obligations under letters of credit,
performance bonds, surety bonds, bank guarantees or other similar arrangements (other than Designated Bilateral Letters of Credit), not to exceed $50,000,000 at any time outstanding; 

(u)    Liens in favor of any Loan Party; 

(v)    leases, licenses, subleases and sublicenses of assets (including real property and intellectual property rights) in
the ordinary course of business which do not materially interfere with the ordinary conduct of the business of the Company or any of its Restricted Subsidiaries; 

(w)    Liens arising from precautionary UCC financing statement filings regarding operating leases, consignments, asset
sales, or factoring arrangements or similar filings in jurisdictions outside the United States entered into by the Company and its Restricted Subsidiaries in the ordinary course of business; 

(x)    Liens arising out of conditional sale, title retention, consignment or similar arrangements for the sale of goods
entered into in the ordinary course of business; 
 (y)    customary restrictions on dispositions of assets to be
disposed of pursuant to merger agreements, stock or asset purchase agreements and similar agreements, in each case to the extent the entry into such agreements is otherwise permitted hereunder; 

(z)    customary options, put and call arrangements, rights of first refusal and similar rights relating to the Capital
Stock of any joint ventures, partnerships or similar investment vehicles; 
 (aa)    Liens on Collateral securing Credit
Agreement Refinancing Debt; 
 (bb)    (i) Liens on other Securitization Assets including any bank accounts into
which collections or proceeds of Securitization Assets are deposited or all or a portion of the assets of the Securitization SPEs or (ii) precautionary Liens against the transferor of Securitization Assets, in each case arising in connection
with a Permitted Securitization Financing; and 
 (cc)    Liens on the equity interests of Unrestricted Subsidiaries or
Special Purpose Securitization Subsidiaries. 
 Section 7.04.    Limitation on Fundamental Changes. Enter
into any merger, consolidation or amalgamation, or liquidate, wind up or dissolve itself (or suffer any liquidation or dissolution), or Dispose of all or substantially all of its Property or business (in one transaction or in a series of related
transactions), except that: 
 (a)    (i) any Restricted Subsidiary of the Company may be merged or consolidated with or
into the Company (provided that the Company shall be the continuing or surviving entity) or any other Loan Party (provided that the continuing or surviving entity is a Loan Party) and the Company shall comply with Section 6.08 in
connection therewith promptly after the consummation of such transaction (provided that in the case of a merger or consolidation involving an Approved Borrower, the surviving entity shall be a pre-existing Approved Borrower) and (ii) any
Restricted Subsidiary that is not a Subsidiary Guarantor may be merged or consolidated with or into any other Restricted Subsidiary which is not a Subsidiary Guarantor; 

  
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 (b)    the Company or any Restricted Subsidiary of the Company may Dispose of
any or all of its assets (upon voluntary liquidation, winding up, dissolution or otherwise; provided that the Company may not liquidate, wind up or dissolve itself (or suffer any liquidation or dissolution)) to any Loan Party or, in the case
of any Restricted Subsidiary that is not a Subsidiary Guarantor, to any other Restricted Subsidiary (and, in any such case, other than in the case of the Company, liquidate, wind up or dissolve in connection therewith); 

(c)    any Permitted Acquisition may be structured as a merger with or into the Company (provided that the Company
shall be the continuing or surviving corporation), with or into any other Loan Party (provided that the continuing or surviving corporation of any such merger shall be a Loan Party ), and the Company shall comply with Section 6.08 in
connection therewith (provided that if any merging entity is an Approved Borrower the surviving entity of any such merger shall be a pre-existing Approved Borrower) or with or into any other Restricted Subsidiary; 

(d)    any Disposition of a Subsidiary permitted by Section 7.05 may be made in the form of a merger, consolidation or
amalgamation, or liquidation, winding up, dissolution or Disposition of all or substantially all of its Property or business (in one transaction or in a series of related transactions); and 

(e)    any Specified Disposition permitted under Section 7.05 and Specified Distribution permitted by Section 7.06 shall,
in each case, be permitted under this Section 7.04. 
 Section 7.05.    Limitation on Disposition of
Property. Dispose of any of its Property (including, without limitation, receivables and leasehold interests), whether now owned or hereafter acquired, or, in the case of any Restricted Subsidiary, issue or sell any shares of such
Restricted Subsidiary’s Capital Stock to any Person, except: 
 (a)    the Disposition of (i) cash, Cash
Equivalents or Investment Grade Securities or (ii) other Property that the Company (or any Restricted Subsidiary of the Company) reasonably determines is no longer used or useful in its business, has become obsolete, damaged or surplus or is
replaced in the ordinary course of business, including the lease or sublease of excess or unneeded real property not constituting a sale and leaseback; 

(b)    the sale of inventory in the ordinary course of business; 

(c)    Dispositions permitted by Section 7.04(b); provided that promptly after any such Disposition of any Property
to the Company or a Subsidiary Guarantor, all actions reasonably required by the Collateral Agent shall be taken to insure the perfection and priority of the Liens created by the Security Documents on such Property; 

(d)    the sale or issuance of any Restricted Subsidiary’s Capital Stock to the Company or any Subsidiary Guarantor
or in the case of any Restricted Subsidiary that is not a Subsidiary Guarantor, to any other Restricted Subsidiary; 

  
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 (e)    Dispositions from (i) the Company or a Subsidiary Guarantor to the
Company or another Subsidiary Guarantor; provided that promptly after any such Disposition, all actions reasonably requested by the Collateral Agent shall be taken to insure the continued perfection and priority of the Liens created by
the Security Documents on such Property and assets, (ii) from a Restricted Subsidiary that is not a Subsidiary Guarantor to the Company or any other Restricted Subsidiary or (iii) from a Loan Party to a Restricted Subsidiary that is not a Loan
Party; 
 (f)    discounts, adjustments or forgiveness of accounts receivable and other contract claims in the ordinary
course of business or in connection with collection or compromise thereof; 
 (g)    subject to the proviso below,
unlimited Dispositions for Fair Market Value; 
 (h)    any Recovery Event; 

(i)    Dispositions resulting from any taking or condemnation of any property of the Company or any of its Restricted
Subsidiaries; 
 (j)    Sale and Lease-Back Transactions permitted under Section 7.10; 

(k)    to the extent constituting Dispositions, Investments permitted under Section 7.07 and Restricted Payments permitted
under Section 7.06; 
 (l)    the sale (without recourse) of receivables (and related assets) pursuant to factoring or
other receivables sale arrangements and similar financing programs; 
 (m)    assignments and licenses of intellectual
property of the Company and its Restricted Subsidiaries in the ordinary course of business; and 
 (n)    the purchase
and sale or other transfer (including by capital contribution) of Securitization Assets or interests therein pursuant to any Permitted Securitization Financing; 

provided, that in the case of a Specified Disposition, the Company would, immediately after giving effect to such Specified Disposition be in
compliance with the Financial Covenants, determined on a Pro Forma Basis giving effect to such Specified Disposition as of the last day of the most recently ended Test Period (and assuming for such purposes the repayment of any Indebtedness repaid,
tendered, repurchased, redeemed, defeased or discharged in connection with such Specified Disposition), provided, further, that, with respect to paragraph (g) above, no Default or Event of Default exists or will result therefrom and at least
75% of the consideration received therefor by the Company or such Restricted Subsidiary in excess of $10,000,000 for any individual Disposition (or series of related Dispositions) shall be in the form of cash or Cash Equivalents, provided
further that for purposes of this proviso, each of the following shall be deemed to be cash: (i) the amount of any liabilities (as shown on the Company’s or any Restricted Subsidiary’s most recent balance sheet or in the notes
thereto) that are assumed by the transferee of any such assets or are otherwise cancelled in connection with such transaction (other than any such liabilities that are subordinated to the Obligations), (ii) any notes or other obligations or other
securities or assets received by the Company or such Restricted Subsidiary from such transferee that are converted by the Company or such Restricted Subsidiary into cash 

  
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or Cash Equivalents within 180 days of the receipt thereof (to the extent of the cash or Cash Equivalents received) and (iii) any Designated Non-Cash Consideration received by the Company or any
of its Restricted Subsidiaries in such Disposition having an aggregate Fair Market Value, taken together with all other Designated Non-Cash Consideration received pursuant to clause (g) that is at that time outstanding, not to exceed $25,000,000,
with the Fair Market Value of each item of Designated Non-Cash Consideration being measured at the time received and without giving effect to subsequent changes in value. 

For the avoidance of doubt, any issuance or sale of Capital Stock of the Company shall not be subject to the restrictions set forth in this
Section 7.05. 
 Section 7.06.    Limitation on Restricted Payments. Declare or pay any dividend on, or make
any payment on account of, or set apart assets for a sinking or other analogous fund for, the purchase, redemption, defeasance, retirement, termination or other acquisition of, any Capital Stock of the Company or any Restricted Subsidiary, whether
now or hereafter outstanding, or make any other distribution in respect thereof, in each case either directly or indirectly, whether in cash or property or in obligations of the Company or any Restricted Subsidiary (collectively, “Restricted
Payments”), except that: 
 (a)    (i) any Restricted Subsidiary may make Restricted Payments to the Company or
any Subsidiary Guarantor and (ii) any Restricted Subsidiary that is not a Subsidiary Guarantor may make Restricted Payments to any other Restricted Subsidiary; 

(b)    the Company may make Restricted Payments in the form of common stock of the Company; 

(c)    the Company may purchase the Company’s common stock, common stock options, restricted stock, restricted stock
units and similar securities from present or former officers, directors or employees of the Company or any Restricted Subsidiary upon the death, disability or termination of employment of such officer, director or employee, provided that the
aggregate amount of payments made pursuant to this paragraph (c) (net of any proceeds received by the Company in connection with resales of any common stock, common stock options, restricted stock, restricted stock units and similar securities)
shall not exceed $10,000,000 during any fiscal year; 
 (d)    the Company may make Restricted Payments in connection
with the redemption, repurchase, retirement or other acquisition of any Capital Stock of the Company upon or in connection with the exercise or vesting of warrants, options, restricted stock units or similar rights if such Capital Stock constitutes
all or a portion of the exercise price or is surrendered (or deemed surrendered) in connection with satisfying any income tax obligation incurred in connection with such exercise or vesting; 

(e)    the Company may make cash payments (i) solely in lieu of the issuance of fractional shares in connection with the
exercise of warrants, options, restricted stock units or other securities convertible into or exchangeable for Capital Stock of the Company; provided that any such cash payment shall not be for the purpose of evading the limitations of this
Section 7.06 and (ii) to officers, directors, employees and consultants in respect of phantom stock, to the extent considered a Restricted Payment; 

  
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 (f)    any non-wholly owned Restricted Subsidiary may, to the extent a
Restricted Payment is made to the Company or another Restricted Subsidiary under this Section 7.06, make Restricted Payments to its other shareholders on a pro rata basis; 

(g)    (i) so long as no Default or Event of Default shall have occurred and be continuing or would result therefrom and
(ii) the Company shall be in compliance with the Minimum Liquidity Test at the time of the proposed Restricted Payment and immediately after giving effect thereto, as certified by the Company to the Administrative Agent (and supported with such
evidence as may be reasonably satisfactory to the Administrative Agent), the Company may make Restricted Payments in connection with the redemption, repurchase, retirement or other acquisition of any Capital Stock of the Company; provided
that the aggregate amount of payments made pursuant to this Section 7.06(g) in any fiscal year shall not exceed the sum of (x) $25,000,000 and (y) the aggregate amount of cash paid to the Company for its account in such fiscal year upon the exercise
or vesting of warrants, options, restricted stock units or similar rights by officers, directors or employees of the Company or its Restricted Subsidiaries in such fiscal year (it being agreed that if any portion of such permitted amount is not used
in any fiscal year, then 50% of such unused portion may be used in any subsequent fiscal year and any such carried over amount shall be deemed used first in such subsequent fiscal year); 

(h)    the Company may make additional cash Restricted Payments pursuant to this clause (h) in an aggregate amount not to
exceed the Available Amount at such time (as determined immediately before giving effect to the making of such Restricted Payment) so long as (A) no Default or Event of Default then exists or would result therefrom, (B) the Company would at the time
of and immediately after giving effect to such Restricted Payment be in compliance with (i) the Interest Coverage Ratio Covenant and (ii) a Total Net Leverage Ratio of not greater than 2.00 to 1.00, in each case, determined on a Pro Forma Basis
giving effect to such Restricted Payment as of the last day of the most recently ended Test Period and (C) the Company shall be in compliance with the Minimum Liquidity Test at the time of the proposed Restricted Payment and immediately after giving
effect thereto, as certified by the Company to the Administrative Agent (and supported with such evidence as may be reasonably satisfactory to the Administrative Agent); 

(i)    the Company may make Restricted Payments in an amount not to exceed $17,000,000 in any fiscal year; and 

(j)    the Company may make a Specified Distribution so long as (i) the Company would, immediately after giving effect to
such Specified Distribution be in compliance with the Financial Covenants, determined on a Pro Forma Basis giving effect to such Specified Distribution as of the last day of the most recently ended Test Period (and assuming for such purposes the
repayment, tender, repurchase, redemption, defeasance or discharge of any Indebtedness repaid, tendered, repurchased, redeemed, defeased or discharged substantially simultaneously with such Specified Distribution), (ii) no Default or Event of
Default exists or will result therefrom and (iii) substantially simultaneously with such Specified Distribution, all outstanding Term Loans are repaid in full. 

  
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 Section 7.07.    Limitation on Investments. Make or hold any
Investments, except: 
 (a)    extensions of trade credit in the ordinary course of business; 

(b)    Investments in cash, Cash Equivalents or Investment Grade Securities; 

(c)    Investments arising in connection with the incurrence of Indebtedness permitted by Section 7.02(e) or (i); 

(d)    loans and advances to employees of the Company or any Restricted Subsidiaries of the Company in the ordinary course
of business (including, without limitation, for travel, entertainment and relocation expenses) in an aggregate amount for the Company and Restricted Subsidiaries of the Company not to exceed $5,000,000 at any time outstanding; 

(e)    Hedge Agreements permitted under Section 7.15; 

(f)    Investments in the Company’s business made by the Company or any of its Restricted Subsidiaries with the
proceeds of any Reinvestment Deferred Amount; 
 (g)    Investments made or received in order to facilitate the
Transactions; 
 (h)    Permitted Acquisitions (including the formation of Restricted Subsidiaries in connection
therewith); 
 (i)    Investments by the Company in any Restricted Subsidiary or by any Restricted Subsidiary in the
Company or any other Restricted Subsidiary; 
 (j)    any Investment made as a result of the receipt of non-cash
consideration for a Disposition that was made pursuant to and in compliance with Section 7.05; 
 (k)    Investments
received as part of the settlement of litigation or in satisfaction of extensions of credit to any Person pursuant to the reorganization, bankruptcy or liquidation of such Person or a good faith settlement of debts with such Person; 

(l)    Investments received in settlement of amounts due to the Company or any Restricted Subsidiary of the Company
effected in the ordinary course of business; 
 (m)    Investments in accounts, contract rights and chattel paper (each
as defined in the UCC), notes receivable and similar items arising or acquired from the sale of inventory in the ordinary course of business consistent with the past practice of the Company and its Restricted Subsidiaries; 

(n)    Investments by the Company or any of its Restricted Subsidiaries in an aggregate amount at any time outstanding not
to exceed $25,000,000; 
 (o)    the Company and its Restricted Subsidiaries may make Investments in an aggregate amount
not to exceed the Available Amount at such time (as determined immediately before giving effect to the making of such Investment) so long as (A) no Default or Event of Default 

  
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then exists or would result therefrom and (B) the Company would at the time of and immediately after giving effect to such Investment be in compliance with (i) the Interest Coverage Ratio
Covenant and (ii) a Total Net Leverage Ratio of not greater than 2.00 to 1.00, in each case, determined on a Pro Forma Basis as of the last day of the most recently ended Test Period; 

(p)    Investments by the Company and its Restricted Subsidiaries in joint ventures in an aggregate amount at any time
outstanding not to exceed $25,000,000; 
 (q)    Investments consisting of Securitization Assets or made in connection
with any Permitted Securitization Financing; 
 (r)    Investments of a Restricted Subsidiary of the Company acquired
after the Closing Date or of an entity merged into or consolidated with a Restricted Subsidiary of the Company in a transaction after the Closing Date that is not prohibited hereunder, to the extent that such Investments were not made in
contemplation of such acquisition, merger or consolidation and were in existence on the date of such acquisition, merger or consolidation; and 

(s)    Investments in existence on the Closing Date and listed on Schedule 7.07. 

Section 7.08.    Limitation on Optional Payments and Modifications of Debt Instruments, Etc. (a) Make or offer
to make any optional or voluntary payment, prepayment, repurchase or redemption of, or otherwise voluntarily or optionally defease, any Junior Debt or segregate funds for any such payment, prepayment, repurchase, redemption or defeasance (other than
any Permitted Refinancing (including successive refinancings)) other than (I) voluntary payments, prepayments, repurchases, redemptions or defeasances of intercompany Indebtedness permitted under Section 7.02(b) or Section 7.02(d) and (II) voluntary
payments, prepayments, repurchases, redemption or defeasance of such Indebtedness in an aggregate amount not to exceed the Available Amount at such time (as determined immediately before giving effect to the making of such payment, prepayment,
repurchase, redemption or defeasance) so long as, in the case of this clause (a)(II), (i) no Default or Event of Default then exists or would result therefrom and (ii) the Company would at the time of and immediately after giving effect to such
payment, prepayment, repurchase, redemption or defeasance be in compliance with (i) the Interest Coverage Ratio Covenant and (ii) a Total Net Leverage Ratio of not greater than 2.00 to 1.00, in each case, determined on a Pro Forma Basis as of the
last day of the most recently ended Test Period; provided, that nothing herein shall restrict the Company or any of its Restricted Subsidiaries from making required payments of fees, customary “AHYDO” catch-up payments, and
regularly scheduled payments of interest on any Junior Debt (provided that the payment of such fees and interest with respect to subordinated Indebtedness shall be subject to the subordination provisions governing such Indebtedness), or (b)
amend, modify or otherwise change, or consent or agree to any amendment, modification, waiver or other change, to any of the terms of any Junior Debt which would reduce the maturity or require any scheduled principal payments or prepayments or any
mandatory prepayment, redemption or repurchase provisions or sinking fund obligations (except customary ones, including customary “AHYDO” catch-up payments and in the context of asset sales, casualty events or a change of control) to be
made on a date prior to the Latest Maturity Date then in effect. 

  
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 Section 7.09.    Limitation on Transactions with
Affiliates. Enter into any transaction, including, without limitation, any purchase, sale, lease or exchange of Property, the rendering of any service or the payment of any management, advisory or similar fees, with any Affiliate, other
than (i) transactions between or among the Company and its Restricted Subsidiaries, (ii) any Restricted Payment that is permitted under Section 7.06, (iii) any transaction upon fair and reasonable terms no less favorable to the Company or such
Restricted Subsidiary, as the case may be, than it would obtain in a comparable arm’s length transaction with a Person that is not an Affiliate, (iv) employment, consulting, severance and other service or benefit related arrangements between
the Company, its Restricted Subsidiaries and their respective officers and employees in the ordinary course of business and transactions pursuant to stock option and other equity award plans and employee benefit plans and arrangements in the
ordinary course of business, (v) the payment of ordinary course customary fees, expenses and indemnities to directors, officers, employees and consultants of the Company and its Restricted Subsidiaries, (vi) any transaction with an Affiliate that,
as such, has been expressly approved by either a majority of the Company’s independent directors or a committee of the Company’s directors consisting solely of independent directors, in each case in accordance with such independent
directors’ fiduciary duties in their capacity as such and upon advice from independent counsel and (vii) any transaction effected in connection with a Permitted Securitization Financing. 

Section 7.10.    Limitation on Sales and Leasebacks. Enter into any arrangement, directly or indirectly, with
any person whereby it shall sell or transfer any property, real or personal, used or useful in its business, whether now owned or hereafter acquired, and thereafter rent or lease such property or other property which it intends to use for
substantially the same purpose or purposes as the property being sold or transferred (such an arrangement, a “Sale and Lease-Back Transaction”), other than (i) Sale and Lease-Back Transactions entered into in connection with
the financing of aircraft to be used in connection with the Company’s business capitalized on the books of the Company or treated as operating leases if the aggregate sale price of all such Sale and Lease-Back Transactions does not exceed
$25,000,000 in aggregate amount at any time outstanding and (ii) Sale and Lease-Back Transactions capitalized on the books of the Company or treated as operating leases (other than a Sale and Lease-Back Transaction permitted by clause (i) above) if
the aggregate sale price of all such Sale and Lease-Back Transactions under this clause (ii) does not exceed $25,000,000 in aggregate amount at any time outstanding. 

Section 7.11.    Limitation on Changes in Fiscal Periods. Permit the fiscal year of the Company to end on a
day other than December 31 or change the Company’s method of determining fiscal quarters. 
 Section
7.12.    Limitation on Negative Pledge Clauses. Enter into or suffer to exist or become effective any agreement that prohibits or limits the ability of the Company or any Subsidiary Guarantor to create, incur, assume
or suffer to exist any Lien upon any of its material Property or revenues, whether now owned or hereafter acquired, to secure the Obligations or, in the case of any Subsidiary Guarantor, its obligations under the Guarantee and Collateral Agreement
or other Security Document, other than (a) this Agreement and the other Loan Documents; (b) any Lien arising pursuant to any Permitted Securitization Documents, (c) documentation governing Credit Agreement Refinancing Debt or Indebtedness incurred
under Section 7.02(j); (d) documentation governing Permitted Refinancings (including successive refinancings) thereof (to the extent such provisions are not more restrictive than customary 

  
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market terms for Indebtedness of such type (and in any event not materially more restrictive than the restrictions contained in this Agreement), so long as the Company has determined that such
restrictions will not materially impair its ability to make payments due hereunder), (e) any agreements governing any purchase money Liens (or any Permitted Refinancing in respect thereof (including successive refinancings)), Capital Lease
Obligations or Permitted Acquisition Indebtedness otherwise permitted hereby (in the case of Permitted Assumed Acquisition Indebtedness, any prohibition or limitation shall only be effective against the assets financed thereby and in the case of any
Permitted Refinancing of purchase money Indebtedness or Permitted Acquisition Indebtedness, shall be no more restrictive, taken as a whole, than that in the relevant refinanced agreement); (f) customary restrictions on the assignment of leases,
licenses and contracts entered into in the ordinary course of business; (g) any agreement in effect at the time any Person becomes a Restricted Subsidiary of the Company; provided that such agreement was not entered into in contemplation of
such Person becoming a Restricted Subsidiary of the Company; (h) customary restrictions and conditions contained in agreements relating to the sale of a Restricted Subsidiary of the Company (or the assets of a Restricted Subsidiary of the Company)
pending such sale; provided such restrictions and conditions apply only to the Restricted Subsidiary of the Company that is to be sold (or whose assets are to be sold) and such sale is permitted hereunder; (i) restrictions under agreements
evidencing or governing or otherwise relating to Indebtedness of Restricted Subsidiaries that are not Subsidiary Guarantors; provided that such restrictions are applicable only with respect to the assets of Subsidiaries that are not
Subsidiary Guarantors; (j) customary provisions in joint venture agreements, limited liability company operating agreements, partnership agreements, stockholders agreements and other similar agreements; (k) restrictions on cash or other deposits or
net worth imposed by customers under contracts entered into in the ordinary course of business, and (l) any agreement set forth in the documentation governing Indebtedness outstanding on the Closing Date and set forth on Schedule 7.12 or any
Permitted Refinancing thereof (including successive refinancings) so long as such provisions are not materially more restrictive on the Company and its Restricted Subsidiaries than those contained in the Indebtedness refinanced. 

Section 7.13.    Limitation on Restrictions on Subsidiary Distributions. Enter into or suffer to exist or
become effective any consensual contractual encumbrance or restriction on the ability of any Restricted Subsidiary to (a) make Restricted Payments in respect of any Capital Stock of such Restricted Subsidiary held by, or pay any Indebtedness owed
to, the Company or any Subsidiary Guarantor, (b) make Investments in the Company or any Subsidiary Guarantor or (c) transfer any of its assets to the Company or any Subsidiary Guarantor, except for such encumbrances or restrictions existing under or
by reason of (i) any restrictions existing under the Loan Documents and (ii) any restrictions with respect to a Restricted Subsidiary imposed pursuant to an agreement that has been entered into in connection with the Disposition of all or
substantially all of the Capital Stock or assets of such Restricted Subsidiary, provided such Disposition is permitted hereunder; provided that this Section 7.13 shall not apply to (1) encumbrances or restrictions arising by reason of
customary non-assignment or no-subletting clauses in leases or other contracts entered into in the ordinary course of business and consistent with past practices; (2) [reserved]; (3) encumbrances or restrictions in the documentation governing Credit
Agreement Refinancing Debt or Indebtedness incurred under Section 7.02(j) (in the case of such Indebtedness under Section 7.02(j), to the extent such provisions are more restrictive than customary market terms for Indebtedness of such type (and in
any event not 

  
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materially more restrictive than the restrictions contained in this Agreement), so long as the Company has determined that such restrictions will not materially impair its ability to make
payments due hereunder); (4) encumbrances or restrictions in agreements governing any purchase money Liens (or any Permitted Refinancing in respect thereof (including successive refinancings)), Capital Lease Obligations or Permitted Acquisition
Indebtedness otherwise permitted hereby (in the case of Permitted Assumed Acquisition Indebtedness, any prohibition or limitation shall only be effective against the assets financed thereby and in the case of any Permitted Refinancing of purchase
money Indebtedness or Permitted Acquisition Indebtedness, shall be no more restrictive than that in the relevant refinanced agreement); (5) any agreement in effect at the time any Person becomes a Restricted Subsidiary of the Company;
provided that such agreement was not entered into in contemplation of such Person becoming a Restricted Subsidiary of the Company; (6) provisions with respect to the disposition or distribution of assets or property in joint venture
agreements, asset sale agreements, agreements in respect of sales of Capital Stock and other similar agreements entered into in connection with transactions permitted under this Agreement, provided that such encumbrance or restriction shall
only be effective against the assets or property that are the subject of such agreements; (7) restrictions under agreements evidencing or governing or otherwise relating to Indebtedness of Restricted Subsidiaries that are not Subsidiary Guarantors;
provided that such Indebtedness is only with respect to the assets of Subsidiaries that are not Subsidiary Guarantors, (8) any agreement set forth in the documentation governing Indebtedness outstanding on the Closing Date and set forth on
Schedule 7.13 or any Permitted Refinancing thereof (including successive refinancings) so long as such provisions are not materially more restrictive on the Company and its Restricted Subsidiaries than those contained in the Indebtedness refinanced
and (9) encumbrances or restrictions in documentation governing Permitted Securitization Financings. 
 Section
7.14.    Limitation on Lines of Business. Enter into any business, either directly or through any Restricted Subsidiary, except for those businesses in which the Company and its Restricted Subsidiaries are engaged on
the date of this Agreement or that are reasonably related thereto (including any Permitted Securitization Financing). 
 Section
7.15.    Limitation on Hedge Agreements. Enter into any Hedge Agreement other than Hedge Agreements entered into in the ordinary course of business (including in connection with any Permitted Securitization
Financing), and not for speculative purposes. 
 Section 7.16.    Use Of Proceeds. 

(a)    The Company will not, directly or, to the knowledge of the Company, indirectly, use the proceeds of the Loans, or
lend, contribute or otherwise make available such proceeds to any subsidiary, joint venture partner or other Person, (i) for the purpose of funding or facilitating any activities of or business with any Person, or in any country or territory,
that, at the time of such funding or facilitation, is the subject of Sanctions to the extent that such funding or activities are prohibited by applicable Sanctions, or (ii) in any other manner that would result in a violation of applicable
Sanctions by any party hereto. 
 (b)    The Company will not use the proceeds of the Loans, directly or, to the
knowledge of the Company, indirectly, for any payments to any governmental official or employee, political party, official of a political party, candidate for political office, or anyone else acting in an official capacity, in order to obtain,
retain or direct business or obtain any improper advantage, or in violation of the FCPA, or in violation of any other applicable anti-corruption laws. 

  
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 ARTICLE 8 

EVENTS OF DEFAULT 

If any of the following events shall occur and be continuing: 

(a)    (i) any Borrower shall fail to pay any principal of any Loan or Reimbursement Obligation when due in accordance
with the terms hereof; or (ii) any Borrower shall fail to pay any interest on any Loan or Reimbursement Obligation, or any other amount payable hereunder or under any other Loan Document, within five days after any such interest or other amount
becomes due in accordance with the terms hereof or thereof; or 
 (b)    any representation or warranty made or deemed
made by any Loan Party herein or in any other Loan Document or that is contained in any certificate, document or financial or other written statement furnished by it at any time under or in connection with this Agreement or any such other Loan
Document shall prove to have been inaccurate in any material respect on or as of the date made or deemed made; or 

(c)    any Loan Party shall default in the observance or performance of any agreement contained in clause (i) or (ii) of
Section 6.04 (with respect to any Borrower only), Section 6.07(a) or Article 7 (including, without limitation and for the avoidance of doubt, the Total Net Leverage Ratio Covenant); provided, that, an Interest Coverage Ratio Covenant
Default shall not constitute an Event of Default with respect to the Term Loans until the date on which any Revolving Credit Loans have been declared to be due and payable pursuant to this Article 8 on account of such Interest Coverage Ratio
Covenant Default (such period the “Term Standstill Period”); or 
 (d)    any Loan Party shall default
in the observance or performance of any other agreement contained in this Agreement or any other Loan Document (other than as provided in paragraphs (a) through (c) of this Section), and such default shall continue unremedied for a period of
30 days after the earlier of the Company’s knowledge thereof and written notice thereof to the Company from the Administrative Agent; or 

(e)    the Company or any of its Restricted Subsidiaries shall (i) default in making any payment of any principal of any
Indebtedness (including, without limitation, any Guarantee Obligation with respect to principal of any Indebtedness, but excluding the Loans and Reimbursement Obligations) on the scheduled or original due date with respect thereto; or (ii) default
in making any payment of any interest on any such Indebtedness beyond the period of grace, if any, provided in the instrument or agreement under which such Indebtedness was created; or (iii) default in the observance or performance of any other
agreement or condition relating to any such Indebtedness or contained in any instrument or agreement evidencing, securing or relating thereto, or any other event shall occur or condition exist, the effect of which default or other event or condition
is to cause, or to permit the holder or beneficiary of such Indebtedness (or a trustee or agent on behalf of such holder or beneficiary) to cause, with the giving of notice if required, such Indebtedness to become due prior to its stated maturity or
to become subject to a mandatory offer to purchase by the obligor thereunder or (in the case of any 

  
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such Indebtedness constituting a Guarantee Obligation) to become payable; provided, that (x) a default, event or condition described in clause (i), (ii) or (iii) of this paragraph (e)
shall not at any time constitute an Event of Default unless, at such time, one or more defaults, events or conditions of the type described in clauses (i), (ii) and (iii) of this paragraph (e) shall have occurred and be continuing with respect to
Indebtedness the outstanding principal amount of which exceeds in the aggregate the Threshold Amount and (y) clause (iii) shall not apply to secured Indebtedness that becomes due as a result of the voluntary sale or transfer of the property or
assets securing such Indebtedness if such sale or transfer is permitted hereunder and under the documentation governing such Indebtedness; or 

(f)    (i) any Borrower or any of its Significant Subsidiaries shall commence any case, proceeding or other action (A)
under any existing or future law of any jurisdiction, domestic or foreign, relating to bankruptcy, insolvency, reorganization or relief of debtors, seeking to have an order for relief entered with respect to it, or seeking to adjudicate it a
bankrupt or insolvent, or seeking reorganization, arrangement, adjustment, winding-up, liquidation, dissolution, composition or other relief with respect to it or its debts, or (B) seeking appointment of a receiver, trustee, custodian, conservator
or other similar official for it or for all or any substantial part of its assets, or any Borrower or any of its Significant Subsidiaries shall make a general assignment for the benefit of its creditors; or (ii) there shall be commenced against any
Borrower or any of its Restricted Subsidiaries any case, proceeding or other action of a nature referred to in clause (i) above that (iii) results in the entry of an order for relief or order or decree approving any such adjudication or appointment
or (iv) remains undismissed, undischarged or unbonded for a period of 60 consecutive days; or (v) there shall be commenced against any Borrower or any of its Significant Subsidiaries any case, proceeding or other action seeking issuance of a
warrant of attachment, execution, distraint or similar process against all or substantially all of its assets that results in the entry of an order for any such relief that shall not have been vacated, discharged, or stayed or bonded pending appeal
within 60 days from the entry thereof; or (vi) any Borrower or any of its Significant Subsidiaries shall take any material action in furtherance of, or indicating its consent to, approval of, or acquiescence in, any of the acts set forth in clause
(i), (ii), or (iii) above; or (vii) any Borrower or any of its Significant Subsidiaries shall generally not, or shall be unable to, or shall admit in writing its inability to, pay its debts as they become due; or 

(g)    (i) any Person shall engage in any non-exempt “prohibited transaction” (as defined in Section 406 of
ERISA or Section 4975 of the Code) involving any Plan, (ii) the occurrence of an ERISA Event, whether or not waived, shall exist with respect to any Plan, or any Lien in favor of the PBGC or a Plan shall arise on the assets of the Company
or any Commonly Controlled Entity, (iii) a Reportable Event shall occur with respect to, or proceedings under Title IV of ERISA shall commence to have a trustee appointed under Title IV of ERISA, or a trustee shall be appointed, to
administer or to terminate, any Single Employer Plan, which Reportable Event or commencement of proceedings or appointment of a trustee is likely to result in the termination of such Plan for purposes of Title IV of ERISA, (iv) any Single
Employer Plan shall terminate for purposes of Title IV of ERISA, (v) the Company or any Commonly Controlled Entity shall, or in the reasonable opinion of the Required Lenders shall be likely to, incur any liability in connection with a
withdrawal from, or the Insolvency or Reorganization of, a Multiemployer Plan; and in each case in clauses (i) through (v) above, such event or condition, together with all other such events or conditions, if any, could reasonably be expected to
have a Material Adverse Effect; or 

  
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 (h)    one or more judgments or decrees shall be entered against the Company
or any of its Restricted Subsidiaries involving for the Company and its Restricted Subsidiaries taken as a whole a liability (not paid or covered by indemnity or insurance) equal to or greater than the Threshold Amount, and all such judgments or
decrees shall not have been vacated, discharged, stayed or bonded pending appeal within 60 days from the entry thereof; or 

(i)    any of the Security Documents shall cease, for any reason (other than by reason of the release thereof pursuant to
Section 10.16), to be in full force and effect, or any Loan Party or any controlled Affiliate of the Company shall so assert, or any Lien created or purported to be created by any of the Security Documents shall cease to be enforceable and of the
same effect and priority purported to be created thereby with respect to Collateral with an aggregate Fair Market Value in excess of $5,000,000 (except to the extent that any such loss of perfection or priority results from the failure of the
Collateral Agent to maintain possession of certificates actually delivered to it representing securities pledged under the Security Documents or from the failure of the Collateral Agent to file UCC continuation statements (or similar statements or
filings in other jurisdictions) and except as to Collateral consisting of real property to the extent that such losses are covered by a lender’s title insurance policy and such insurer has not denied coverage); or 

(j)    any guarantee contained in Section 2 of the Guarantee and Collateral Agreement shall cease, for any reason
(other than by reason of the release thereof pursuant to Section 10.16), to be in full force and effect or any Loan Party or any controlled Affiliate of the Company shall so assert; or 

(k)    any Change of Control shall occur; 

then, and in any such event, (A) if such event is an Event of Default specified in paragraph (f) above with respect to any Borrower, the Commitments
shall automatically and immediately terminate and the Loans hereunder (with accrued interest thereon) and all other amounts owing or accrued under this Agreement and the other Loan Documents (including, without limitation, all amounts of L/C
Obligations, whether or not the beneficiaries of the then outstanding Letters of Credit shall have presented the documents required thereunder) shall automatically and immediately become due and payable, without presentment, demand, protest or any
other notice of any kind, all of which are hereby expressly waived by the Borrowers, anything contained herein or in any other Loan Document to the contrary notwithstanding, and (B) if such event is any other Event of Default, any or all of the
following actions may be taken: (i) with the consent of the Majority Revolving Credit Facility Lenders, the Administrative Agent may, or upon the request of the Majority Revolving Credit Facility Lenders, the Administrative Agent shall, by
notice to the Company declare the Revolving Credit Commitments to be terminated forthwith, whereupon the Revolving Credit Commitments shall immediately terminate; (ii) with the consent of the Required Lenders, the Administrative Agent may, or upon
the request of the Required Lenders, the Administrative Agent shall, by notice to the Company, declare the Loans hereunder (with accrued interest thereon) and all other amounts accrued or owing under this Agreement and the other Loan Documents
(including, without limitation, all amounts of L/C Obligations, whether or not the beneficiaries of the then outstanding Letters of Credit shall have presented the documents required thereunder) to be due and payable forthwith, whereupon the same
shall immediately become due and payable, without presentment, demand, protest or any other notice 

  
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of any kind, all of which are hereby expressly waived by the Borrowers, anything contained herein or in any other Loan Document to the contrary notwithstanding; and (iii) with the consent of the
Required Lenders, the Administrative Agent (or, in the case of the exercise of right and remedies with respect to the Collateral pursuant to the Security Documents, the Collateral Agent) may, or upon the request of the Required Lenders, the
Administrative Agent (or, in the case of the exercise of right and remedies with respect to the Collateral pursuant to the Security Documents, the Collateral Agent) shall, exercise on behalf of itself, the Lenders and any Issuing Lender all other
rights and remedies available to it, the Lenders and any Issuing Lender under the Loan Documents; provided, that if such Event of Default is an Event of Default under Article 8(c) and results solely from an Interest Coverage Ratio Covenant
Default, then prior to the termination of the Term Standstill Period the actions described in the preceding clauses (i) and (ii) shall be taken with the consent or at the request of the Majority Revolving Credit Facility Lenders and only with
respect to the Revolving Credit Facility. In the case of all Letters of Credit with respect to which presentment for honor shall not have occurred at the time of an acceleration pursuant to this paragraph, the Borrowers shall at such time
deposit in a cash collateral account opened by the Administrative Agent an amount equal to the aggregate then undrawn and unexpired face amount of such Letters of Credit. Amounts held in such cash collateral account shall be applied by the
Administrative Agent to the payment of drafts drawn under such Letters of Credit, and the unused portion thereof after all such Letters of Credit shall have expired or been fully drawn upon, if any, shall be applied to repay other obligations of the
Loan Parties hereunder and under the other Loan Documents. After all such Letters of Credit shall have expired or been fully drawn upon, all Reimbursement Obligations shall have been satisfied and all other Obligations of the Loan Parties
hereunder and under the other Loan Documents shall have been paid in full, the balance, if any, in such cash collateral account shall be returned to the Company (or such other Person as may be lawfully entitled thereto). 

ARTICLE 9 
 THE
ADMINISTRATIVE AGENT AND THE COLLATERAL AGENT 

Section 9.01.    Appointment and Authority. 

(a)    Each Lender hereby irrevocably appoints Citibank, N.A. to act on its behalf as the Administrative Agent for
each of the Facilities and under the other Loan Documents and authorizes the Administrative Agent to take such actions on its behalf and to exercise such powers as are delegated to the Administrative Agent by the terms hereof or thereof, together
with such actions and powers as are reasonably incidental thereto. 
 (b)    [Reserved]. 

(c)    Each Lender hereby irrevocably appoints Citibank, N.A. to act on its behalf as the collateral agent for each
of the Facilities and under the other Loan Documents and authorizes the Collateral Agent to take such actions on its behalf and to exercise such powers as are delegated to the Collateral Agent by the terms hereof or thereof, together with such
actions and powers as are reasonably incidental thereto. 

  
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 (d)    Without limiting the generality of the foregoing, the Collateral Agent
is hereby expressly authorized to (i) execute any and all documents (including releases) with respect to the Collateral and the rights of the Secured Parties with respect thereto, as contemplated by and in accordance with the provisions of this
Agreement and the Security Documents and (ii) the Collateral Agent is hereby authorized to negotiate, enforce or settle any claim, action or proceeding affecting the Lenders in their capacity as such, at the direction of the Required Lenders, which
negotiation, enforcement or settlement will be binding upon each Lender. 
 (e)    The institution serving as the
Administrative Agent and/or the Collateral Agent hereunder shall have the same rights and powers in its capacity as a Lender as any other Lender and may exercise the same as though it were not an Agent, and such bank and its Affiliates may accept
deposits from, lend money to and generally engage in any kind of business with the Company or any Subsidiary or other Affiliate thereof as if it were not an Agent hereunder. 

Section 9.02.    Duties of Administrative Agent; Exculpatory Provisions. 

No Agent shall have any duties or obligations except those expressly set forth in the Loan Documents. Without limiting the generality of
the foregoing, (a) no Agent shall be subject to any fiduciary or other implied duties, regardless of whether a Default or Event of Default has occurred and is continuing, (b) no Agent shall have any duty to take any discretionary action or exercise
any discretionary powers, except discretionary rights and powers expressly contemplated hereby that such Agent is instructed in writing to exercise by the Majority Facility Lenders or the Required Lenders (or such other number or percentage of the
Lenders as shall be necessary under the circumstances as provided in Section 10.01), and (c) except as expressly set forth in the Loan Documents, no Agent shall have any duty to disclose, nor shall it be liable for the failure to disclose, any
information relating to the Company or any of the Subsidiaries that is communicated to or obtained by the bank serving as Administrative Agent and/or Collateral Agent or any of its Affiliates in any capacity. As among the Agents and the
Lenders, no Agent shall be liable to any of the Lenders for any action taken or not taken by it with the consent or at the request of the Required Lenders (or such other number or percentage of the Lenders as shall be necessary under the
circumstances as provided in Section 10.01) or in the absence of its own gross negligence or willful misconduct. No Agent shall be deemed to have knowledge of any Default or Event of Default unless and until written notice thereof is given to
such Agent by the Company or a Lender, and no Agent shall be responsible for or have any duty to ascertain or inquire into (i) any statement, warranty or representation made in or in connection with any Loan Document, (ii) the contents of any
certificate, report or other document delivered thereunder or in connection therewith, (iii) the performance or observance of any of the covenants, agreements or other terms or conditions set forth in any Loan Document, (iv) the validity,
enforceability, effectiveness or genuineness of any Loan Document or any other agreement, instrument or document, or (v) the satisfaction of any condition set forth in Article 5 or elsewhere in any Loan Document, other than to confirm receipt of
items expressly required to be delivered to such Agent. 
 Each Agent shall be entitled to rely upon, and shall not incur any liability to
the Lenders for relying upon, any notice, request, certificate, consent, statement, instrument, document or other writing believed by it to be genuine and to have been signed or sent by the proper Person. Each Agent may also rely upon any
statement made to it orally or by telephone and believed by it to have been made by the proper Person, and shall not incur any liability to the Lenders for relying thereon. Each Agent may consult with legal counsel (who may be counsel for the

  
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Company), independent accountants and other experts selected by it, and shall not be liable to the Lenders for any action taken or not taken in good faith by it in accordance with the advice of
any such counsel, accountants or experts. 
 Section 9.03.    Delegation of Duties. 

Each Agent may perform any and all its duties and exercise its rights and powers by or through any one or more sub-agents appointed by
it. Each Agent and any such sub-agent may perform any and all its duties and exercise its rights and powers by or through their respective Related Parties. The exculpatory provisions of the preceding paragraphs shall apply to any such
sub-agent and to the Related Parties of each Agent and any such sub-agent, and shall apply to their respective activities in connection with the syndication of the Facilities as well as activities as Agent. 

Section 9.04.    Resignation of Agent 

Subject to the appointment and acceptance of a successor Agent as provided below, the Administrative Agent or the Collateral Agent may resign
at any time by notifying the Lenders and the Company. Upon any such resignation of such Agent, the Required Lenders shall have the right subject to the prior written approval of the Company (which approval shall not be unreasonably withheld,
delayed or conditioned and shall not be required upon the occurrence and continuance of an Event of Default), to appoint a successor. If no successor Administrative Agent or the Collateral Agent shall have been so appointed by the Required
Lenders, with, absent the occurrence and continuance of an Event of Default, the consent of the Company, and shall have accepted such appointment within 30 days after the retiring Agent gives notice of its resignation, then the retiring Agent may,
on behalf of the applicable Lenders, appoint a successor Agent which shall be a bank with an office in New York, New York, or an Affiliate of any such bank capable of performing the duties of the Administrative Agent or Collateral Agent, as the case
may be. If no successor Agent has been appointed pursuant to the immediately preceding sentence by the 30th day after the date such notice of resignation was given by such Agent, such Agent’s resignation shall become effective and the
Required Lenders shall thereafter perform all the duties of such Agent hereunder and/or under any other Loan Document until such time, if any, as the Required Lenders (subject to the prior written approval of the Company to the extent such approval
would have been required under the second sentence of this paragraph) appoint a successor Administrative Agent and/or Collateral Agent, as the case may be. Any such resignation by such Agent hereunder shall also constitute, to the extent
applicable, its resignation as an Issuing Lender, in which case such resigning Agent (x) shall not be required to issue any further Letters of Credit and (y) shall maintain all of its rights as Issuing Lender with respect to any Letters of Credit
issued by it prior to the date of such resignation. Upon the acceptance of its appointment as Agent hereunder by a successor, such successor shall succeed to and become vested with all the rights, powers, privileges and duties of the retiring
Agent, and the retiring Agent shall be discharged from its duties and obligations hereunder. The fees payable by the Company to a successor Agent shall be the same as those payable to its predecessor unless otherwise agreed between the Company
and such successor. After an Agent’s resignation hereunder, the provisions of this Article and Section 10.05 shall continue in effect for the benefit of such retiring Agent, its sub-agents and their respective Related Parties in
respect of any actions taken or omitted to be taken by any of them while acting as Agent. 

  
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 Section 9.05.    Non-Reliance on Agent and other Lenders. 

Each Lender acknowledges that it has, independently and without reliance upon the Agents or any other Lender and based on such documents and
information as it has deemed appropriate, made its own credit analysis and decision to enter into this Agreement. Each Lender also acknowledges that it will, independently and without reliance upon the Agents or any other Lender and based on
such documents and information as it shall from time to time deem appropriate, continue to make its own decisions in taking or not taking action under or based upon this Agreement or any other Loan Document, any related agreement or any document
furnished hereunder or thereunder. 
 Notwithstanding any other provision of this Agreement or any provision of any other Loan Document,
each of the Joint Lead Arrangers and the Joint Bookrunners, the Syndication Agents, the Documentation Agents, the Senior Co-Manager and the Co-Managers are named as such for recognition purposes only, and in their respective capacities as such shall
have no duties, responsibilities or liabilities with respect to this Agreement or any other Loan Document; it being understood and agreed that each of the Joint Lead Arrangers and the Joint Bookrunners, the Syndication Agents, the Documentation
Agents, the Senior Co-Manager and the Co-Managers shall be entitled to all indemnification and reimbursement rights in favor of the Agents provided herein and in the other Loan Documents. Without limitation of the foregoing, none of the Joint
Lead Arrangers, the Joint Bookrunners, the Syndication Agents, the Documentation Agents, the Senior Co-Manager or the Co-Managers in their respective capacities as such shall, by reason of this Agreement or any other Loan Document, have any
fiduciary relationship in respect of any Lender, Loan Party or any other Person. 
 If at any time any Lender serving as an Agent becomes a
Defaulting Lender, or an Affiliate of a Defaulting Lender is serving as an Agent, and such Defaulting Lender fails to cure all defaults that caused it to become a Defaulting Lender, and cease being a Defaulting Lender or an Affiliate of a Defaulting
Lender, within ten Business Days from the date it became a Defaulting Lender, then the Required Lenders may, but shall not be required to, direct such Agent to resign as Agent (including, without limitation, any functions and duties as
Administrative Agent, Collateral Agent and/or as Issuing Lender, as the case may be), and upon the direction of the Required Lenders, as applicable, such Agent shall be required to so resign, in accordance with the sixth paragraph of this Article 9.

 ARTICLE 10 

MISCELLANEOUS 

Section 10.01.    Amendments and Waivers. Neither this Agreement or any other Loan Document, nor any terms
hereof or thereof, may be amended, supplemented or modified except in accordance with the provisions of this Section 10.01. The Required Lenders and each Loan Party party to the relevant Loan Document may, or (with the written consent of the
Required Lenders) the Administrative Agent or the Collateral Agent, as the case may be, and each Loan Party party to the relevant Loan Document may, from time to time, (a) enter into written amendments, supplements or modifications hereto and to the
other Loan Documents (including amendments and restatements hereof or thereof) for the purpose of adding any provisions to this Agreement or the other Loan Documents or changing in any manner the rights of the Lenders or

  
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of the Loan Parties hereunder or thereunder or (b) waive, on such terms and conditions as may be specified in the instrument of waiver, any of the requirements of this Agreement or the other Loan
Documents or any Default or Event of Default and its consequences; provided, however, that no such waiver and no such amendment, supplement or modification shall: 

(i)    forgive the principal amount or extend the final scheduled date of maturity of any Loan or
Reimbursement Obligation, extend the scheduled date of any amortization payment in respect of any Term Loan, reduce the stated rate of any interest or fee payable under this Agreement (except (x) in connection with the waiver of applicability of any
post-default increase in interest rates (which waiver shall be effective with the consent of the Majority Facility Lenders of each adversely affected Facility) and (y) that any amendment or modification of the Total Leverage Ratio (or the defined
terms used therein) shall not constitute a reduction in the rate of interest or fees for purposes of this clause (i)) or extend the scheduled date of any payment thereof, or increase the amount or extend the expiration date of any Commitment of any
Lender, in each case without the consent of each Lender directly affected thereby; 
 (ii)    amend,
modify or waive any provision of this Section 10.01 or reduce any percentage specified in the definition of Required Lenders or Supermajority Lenders, release all or substantially all of the Collateral or release all or substantially all of the
Subsidiary Guarantors from their guarantee obligations under the Guarantee and Collateral Agreement, in each case without the consent of each Lender; 

(iii)    amend, modify or waive Section 10.06(a) as it relates to the assignment or transfer by any
Borrower of any of its rights and obligations under this Agreement and the other Loan Documents without the consent of each Lender, the Administrative Agent and each Issuing Lender; 

(iv)    amend, modify or waive any condition precedent to any extension of credit under the Revolving
Credit Facility set forth in Section 5.02 or 5.03 (including, without limitation, the waiver of an existing Default or Event of Default required to be waived in order for such extension of credit to be made) without the consent of the Majority
Revolving Credit Facility Lenders (provided, that any such amendment, modification or waiver may be made with the consent of the Majority Revolving Credit Facility Lenders, and no other Lenders); 

(v)    reduce the percentage specified in the definition of Majority Facility Lenders or Majority Revolving
Credit Facility Lenders with respect to any Facility without the consent of all of the Lenders under such Facility; 

(vi)    amend, modify or waive any provision of Article 9, or any other provision directly affecting the
rights, duties or obligations of the Administrative Agent or the Collateral Agent, as the case may be, without the consent of such Agent directly affected thereby; 

  
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 (vii)    amend, modify or waive the pro rata requirements of
clauses (a), (b) or (c) of Section 2.18 or Section 10.07(a) without the consent of each Lender directly affected thereby; 

(viii)    amend, modify or waive any provision of Article 3 or any other provision directly affecting the
rights, duties or obligations of any Issuing Lender without the consent of each Issuing Lender directly affected thereby; 

(ix)    impose restrictions on assignments and participations that are more restrictive than, or additional
to, those set forth in Section 10.06 without the consent of each Lender; 
 (x)    change the provisions
of any Loan Document in a manner that by its terms directly and adversely affects the rights of Lenders holding Loans of one Facility differently from the rights of Lenders holding Loans of any other Facility without the prior written consent of
Lenders holding a majority in interest of the outstanding Loans and unused Commitments of each adversely affected Facility; 

(xi)    (A) amend or modify the definition of “Alternative Currency” or Section 2.25 or (B)
extend the stated expiration date of any Letter of Credit beyond the Revolving Credit Termination Date, in each case, without the consent of each Revolving Credit Lender directly affected thereby; 

(xii)    amend, modify or waive Section 2.10(e), Section 2.10(f), Section 2.12(b)(iii), or Section 2.12(c),
in each case, without the consent of the Supermajority Lenders; 
 (xiii)    modify the protections
afforded to an SPC pursuant to the provisions of Section 10.06(i) without the written consent of such SPC; or 

(xiv)    amend, modify or waive (i) the definition of “Interest Coverage Ratio Covenant Default”
or (ii) the calculation or formulation of the Interest Coverage Ratio Covenant (or any of the defined terms used therein), in each case, without the consent of the Majority Revolving Credit Facility Lenders. 

Any such waiver and any such amendment, supplement or modification shall apply equally to each of the Lenders and shall be binding upon the Loan Parties, the
Lenders, the Agents and all future holders of the Loans. In the case of any waiver, the Loan Parties, the Lenders and the Agents shall be restored to their former position and rights hereunder and under the other Loan Documents, and any Default
or Event of Default waived shall be deemed to be cured and not continuing; but no such waiver shall extend to any subsequent or other Default or Event of Default, or impair any right consequent thereon. Any such waiver, amendment, supplement or
modification shall be effected by a written instrument signed by the parties required to sign pursuant to the foregoing provisions of this Section; provided, that delivery of an executed signature page of any such instrument by facsimile or
electronic transmission (e.g. .PDF or .TIF email file) shall be effective as delivery of a manually executed counterpart thereof. 

  
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 Notwithstanding anything to the contrary herein, no Defaulting Lender shall have any right to
approve or disapprove any amendment, waiver or consent hereunder (and any amendment, waiver or consent which by its terms requires the consent of all Lenders or each affected Lender may be effected with the consent of the applicable Lenders other
than Defaulting Lenders), except that (x) the Commitment of any Defaulting Lender may not be increased or extended without the consent of such Lender and (y) any waiver, amendment or modification requiring the consent of all Lenders or each affected
Lender that by its terms affects any Defaulting Lender more adversely than other affected Lenders shall require the consent of such Defaulting Lender. 

Notwithstanding anything to the contrary set forth herein or in any other Loan Document but subject to the proviso in clause (c) of Article 8,
(i) no Term Loan Lender shall have any right to exercise, or direct the Collateral Agent to exercise or refrain from exercising, any right or remedy arising or available hereunder or under any other Loan Document upon the occurrence or during the
continuance of a Default or an Event of Default if the only such Default or Event of Default that shall have occurred and be continuing is an Interest Coverage Ratio Covenant Default, (ii) no Term Loan Lender shall have any right to approve or
disapprove (X) any amendment or modification to Section 7.01(b) or (Y) any waiver of an Interest Coverage Ratio Covenant Default and (iii) it is understood and agreed that any Term Loans held by any Term Loan Lender shall be excluded from any vote
of the Lenders (and shall be deemed to not be outstanding) for the purposes described in clause (i) above and clause (ii) above, including in determining whether the “Required Lenders” have directed the Collateral Agent to exercise or
refrain from exercising any such rights or remedies or to approve or disapprove any such amendment, modification or waiver. For the avoidance of doubt, (i) the Total Net Leverage Ratio Covenant is for the benefit of all Lenders (including the
Term Loan Lenders) and (ii) nothing in this paragraph shall in any way limit or restrict the rights or remedies of the Term Loan Lenders in connection with any Default or Event of Default other than an Interest Coverage Ratio Covenant Default
(whether arising before or after the occurrence of the Interest Coverage Ratio Covenant Default) or the right of any Term Loan Lenders to approve or disapprove any amendment or modification to any other provision hereof or of any other Loan Document
or to waive any Default or Event of Default other than an Interest Coverage Ratio Covenant Default. 
 Notwithstanding anything to the
contrary set forth herein, any waiver, amendment or modification of this Agreement that by its terms affects the rights or duties under this Agreement of Lenders holding Loans or Commitments of a particular Class (but not the Lenders holding Loans
or Commitments of any other Class) may be effected by an agreement or agreements in writing entered into by the Loan Parties and the requisite percentage in interest of the affected Class of Lenders that would be required to consent thereto under
this Section 10.01 if such Class of Lenders were the only Class of Lenders hereunder at the time so long as, the applicable Lenders shall have received at least five Business Days’ prior written notice thereof and the Administrative Agent shall
not have received, within five Business Days of the date of such notice to the Lenders, a written notice from the Majority Facility Lenders stating that the Majority Facility Lenders object to such amendment. 

For the avoidance of doubt, this Agreement and any other Loan Document may be amended (or amended and restated) with the written consent of
the Required Lenders, the Administrative Agent and each Loan Party to each relevant Loan Document (x) to add one or 

  
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more additional credit facilities to this Agreement and to permit the extensions of credit from time to time outstanding thereunder and the accrued interest and fees in respect thereof to share
ratably in the benefits of this Agreement and the other Loan Documents with the Term Loans and Revolving Extensions of Credit and the accrued interest and fees in respect thereof, (y) to include appropriately the Lenders holding such credit
facilities in any determination of the Required Lenders, Majority Facility Lenders and Majority Revolving Credit Facility Lenders and (z) to permit any such additional credit facilities which are term facilities to share ratably with the Term Loans
in the application of prepayments and to permit any such credit facilities which are revolving credit facilities to share ratably with the Revolving Credit Facility in the application of prepayments and commitment reductions; provided that no
such consent of the Required Lenders shall be required to make any changes contemplated by Section 2.24, Section 2.29 and Section 2.30, as applicable. 

In addition, each of the Lenders and the Issuing Bank (including in their capacities as potential Cash Management Banks, Qualified
Counterparties, Designated Bilateral Letter of Credit Issuer and potential Hedge Banks) irrevocably agree that (x) the Collateral Agent (and/or the Administrative Agent) may, without any further consent of any Lender, enter into or amend any
Customary Intercreditor Agreement with the collateral agent or other representatives of the holders of Indebtedness that is permitted to be secured by a Lien on the Collateral that is permitted under this Agreement, (y) the Collateral Agent may rely
exclusively on a certificate of a Responsible Officer of the Borrower as to whether any such other Liens are permitted and (z) any such Customary Intercreditor agreement referred to in clause (x) above, entered into by the Collateral Agent, shall be
binding on the Secured Parties and each Lender hereby agrees that it will take no actions contrary to the provisions of any such intercreditor agreement. 

If the Administrative Agent and the Company shall have jointly identified an obvious error or any error or omission of a technical or
immaterial nature in any provision of the Loan Documents, then the Administrative Agent and the Company shall be permitted to amend such provision, and such amendment shall become effective without any further action or consent of any other party to
any Loan Document if the same is not objected to in writing by the Required Lenders within five Business Days after notice thereof. 

Notwithstanding anything herein to the contrary, the Company and the Administrative Agent may, without the input or consent of any other
Lender, effect such amendments to this Agreement and the other Loan Documents as may be necessary or appropriate in the opinion of the Administrative Agent to effect the provisions Section 2.24, Section 2.25, Section 2.29 and Section 2.30. 

Section 10.02.    Notices. All notices, requests and demands to or upon the respective parties hereto to be
effective shall be in writing (including by telecopy), and, unless otherwise expressly provided herein, shall be deemed to have been duly given or made when delivered, or three Business Days after being deposited in the mail, postage prepaid, or, in
the case of delivery by hand, overnight courier service or telecopy notice, when received, addressed (a) in the case of any Borrower, the Administrative Agent or the Collateral Agent, as follows, (b) in the case of the Lenders and the other Agents,
as set forth in an Administrative Questionnaire delivered to the Administrative Agent or, in the case of a Lender which becomes a party to this Agreement pursuant to an Assignment and Acceptance, in such Assignment and Acceptance or (c) in the

  
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case of any party, to such other address as such party may hereafter notify to the other parties hereto: 
  

			
	The Borrowers:	  	Harsco Corporation 
350 Poplar Church Road 
Camp Hill, Pennsylvania 17011 
Attention: Michael Kolinsky 
Telecopy: 717-329-2422
		
	And a further copy to:	  	Fried, Frank, Harris, Shriver & Jacobson LLP 
One New York Plaza, 
New York, NY 10004
Attention: Daniel Bursky & Stewart Kagan 
Telecopy: 212-859-4000
		
	 The Administrative Agent and the
 Collateral
Agent:
	  	Citibank, N.A. 
Attention: Agency Group 
Facsimile: 646-274-5080 
Telephone: 302-894-6010
Email: global.loans.support@citi.com
		
	Issuing Lender:	  	 As notified by such Issuing Lender to the Administrative

Agent and the Company

 ; provided that any notice, request or demand to or upon the any Agent, any Issuing Lender or any Lender shall not be
effective until received. 
 The Company hereby agrees, unless directed otherwise by the Administrative Agent or unless the electronic mail
address referred to below has not been provided by the Administrative Agent to the Company, that it will, or will cause its Restricted Subsidiaries to, provide to the Administrative Agent all information, documents and other materials that it is
obligated to furnish to the Administrative Agent pursuant to the Loan Documents or to the Lenders under Article 6 including all notices, requests, financial statements, financial and other reports, certificates and other information materials, but
excluding any such communication that (i) is or relates to a Borrowing Request, a notice pursuant to Section 2.13 or a notice requesting the issuance, amendment, extension or renewal of a Letter of Credit pursuant to Article 3, (ii) relates to the
payment of any principal or other amount due under this Agreement prior to the scheduled date therefor, (iii) provides notice of any Default or Event of Default under this Agreement or any other Loan Document or (iv) is required to be delivered to
satisfy any condition precedent to the effectiveness of this Agreement and/or any Borrowing or other extension of credit hereunder (all such non-excluded communications being referred to herein collectively as “Communications”), by
transmitting the Communications in an electronic/soft medium that is properly identified in a format acceptable to the Administrative Agent to an electronic mail address as directed by the Administrative Agent. In addition, the Company agrees,
and agrees to cause its Restricted Subsidiaries, to continue to provide the Communications to the Administrative Agent or the Lenders, as the case may be, in the manner specified in the Loan Documents but only to the extent requested by the
Administrative Agent. 

  
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 The Company hereby acknowledges that (a) the Administrative Agent will make available to the
applicable Lenders and each Issuing Lender materials and/or information provided by or on behalf of the Company hereunder (collectively, the “Company Materials”) by posting the Company Materials on Intralinks or another similar
electronic system (the “Platform”) and (b) certain of the Lenders may be “public-side” Lenders (i.e., Lenders that do not wish to receive material non-public information with respect to the Company or its securities)
(each, a “Public Lender”). The Company hereby agrees that (w) all Company Materials that are to be made available to Public Lenders shall be clearly and conspicuously marked “PUBLIC” which, at a minimum, shall mean
that the word “PUBLIC” shall appear prominently on the first page thereof; (x) by marking Company Materials “PUBLIC,” the Company shall be deemed to have authorized the Administrative Agent and the Lenders to treat such
Company Materials as not containing any material non-public information with respect to the Company or its securities for purposes of United States federal and state securities laws (provided, however, that for the avoidance of doubt,
to the extent such Company Materials constitute Information, they shall be subject to the provisions of Section 10.15); (y) all Company Materials marked “PUBLIC” are permitted to be made available through a portion of the Platform
designated as “Public Investor;” and (z) the Administrative Agent shall be entitled to treat any Company Materials that are not marked “PUBLIC” as being suitable only for posting on a portion of the Platform not marked as
“Public Investor.” Notwithstanding the foregoing, the following Company Materials shall be marked “PUBLIC”, unless the Company notifies the Administrative Agent promptly that any such document contains material non-public
information: (1) the Loan Documents, (2) financial statements and Compliance Certificates provided to the Administrative Agent pursuant to the Loan Documents and (3) notification of effective changes in the terms of the Facilities. 

Each Public Lender agrees to cause at least one individual at or on behalf of such Public Lender to at all times have selected the
“Private Side Information” or similar designation on the content declaration screen of the Platform in order to enable such Public Lender or its delegate, in accordance with such Public Lender’s compliance procedures and applicable
law, including United States Federal and state securities laws, to make reference to Communications that are not made available through the “Public Side Information” portion of the Platform and that may contain material non-public
information with respect to the Company or its securities for purposes of United States Federal or state securities laws. 
 THE PLATFORM IS
PROVIDED “AS IS” AND “AS AVAILABLE”. NEITHER THE ADMINISTRATIVE AGENT NOR ANY OF ITS RELATED PARTIES WARRANTS THE ACCURACY OR COMPLETENESS OF THE COMMUNICATIONS OR THE ADEQUACY OF THE PLATFORM AND EACH EXPRESSLY DISCLAIMS
LIABILITY FOR ERRORS OR OMISSIONS IN THE COMMUNICATIONS. NO WARRANTY OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY, INCLUDING ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT OF THIRD PARTY RIGHTS OR FREEDOM FROM
VIRUSES OR OTHER CODE DEFECTS IS MADE BY THE ADMINISTRATIVE AGENT OR ANY OF ITS RELATED PARTIES IN CONNECTION WITH THE COMMUNICATIONS OR THE PLATFORM. IN NO EVENT SHALL THE ADMINISTRATIVE AGENT OR ANY OF ITS RELATED PARTIES HAVE ANY LIABILITY
TO ANY LOAN PARTY, ANY LENDER OR ANY OTHER PERSON FOR DAMAGES OF ANY KIND, WHETHER OR NOT BASED ON STRICT LIABILITY AND 

  
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INCLUDING DIRECT OR INDIRECT, SPECIAL, INCIDENTAL OR CONSEQUENTIAL DAMAGES, LOSSES OR EXPENSES (WHETHER IN TORT, CONTRACT OR OTHERWISE) ARISING OUT OF ANY LOAN PARTY’S OR THE ADMINISTRATIVE
AGENT’S TRANSMISSION OF COMMUNICATIONS THROUGH THE INTERNET, EXCEPT TO THE EXTENT THE LIABILITY OF ANY SUCH PERSON IS FOUND IN A FINAL RULING BY A COURT OF COMPETENT JURISDICTION TO HAVE RESULTED FROM SUCH PERSON’S GROSS NEGLIGENCE OR
WILLFUL MISCONDUCT. 
 The Administrative Agent agrees that the receipt of the Communications by it at its e-mail address set forth above
shall constitute effective delivery of the Communications to it for purposes of the Loan Documents. Each Lender agrees that receipt of notice to it (as provided in the next sentence) specifying that the Communications have been posted to the
Platform shall constitute effective delivery of the Communications to such Lender for purposes of the Loan Documents. Each Lender agrees to notify the Administrative Agent in writing (including by electronic communication) from time to time of
such Lender’s e-mail address to which the foregoing notice may be sent by electronic transmission and that the foregoing notice may be sent to such e-mail address. 

Nothing herein shall prejudice the right of the Administrative Agent or any Lender to give any notice or other communication pursuant to any
Loan Document in any other manner specified in such Loan Document. 
 Section 10.03.    No Waiver; Cumulative
Remedies. No failure to exercise and no delay in exercising, on the part of any Agent, any Lender or any Issuing Lender, any right, remedy, power or privilege hereunder or under any other Loan Document shall operate as a waiver thereof; nor
shall any single or partial exercise of any right, remedy, power or privilege hereunder, or any abandonment or discontinuance of steps to enforce such right, remedy, power or privilege, preclude any other or further exercise thereof or the exercise
of any other right, remedy, power or privilege. The rights, remedies, powers and privileges provided herein and in any other Loan Document are cumulative and not exclusive of any rights, remedies, powers and privileges provided by law. No
waiver of any provision of this Agreement or any other Loan Document or consent to any departure by any Borrower or any other Loan Party therefrom shall in any event be effective unless the same shall be permitted by Section 10.01, and then such
waiver or consent shall be effective only in the specific instance and for the purpose for which given. No notice or demand on any Borrower in any case shall entitle any Borrower to any other or further notice or demand in similar or other
circumstances. 
 Section 10.04.    Survival of Agreement. All covenants, agreements, representations and
warranties made by any Borrower herein and in the certificates or other instruments prepared or delivered in connection with or pursuant to this Agreement or any other Loan Document shall be considered to have been relied upon by the Lenders and
each Issuing Lender and shall survive the making by the Lenders of the Loans and the issuance of Letters of Credit by the Issuing Lenders, regardless of any investigation made by the Lenders or the Issuing Lenders or on their behalf, and shall
continue in full force and effect as long as the principal of or any accrued interest on any Loan or any fee or any other amount payable under this Agreement or any other Loan Document is outstanding and unpaid or any Letter of Credit is outstanding
and so long as the Commitments have not been terminated. The provisions of Sections 2.19, 2.20, 2.21 and 

  
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10.05 shall remain operative and in full force and effect regardless of the expiration of the term of this Agreement, the consummation of the transactions contemplated hereby, the repayment of
any of the Loans, the expiration of the Commitments, the expiration of any Letter of Credit, the invalidity or unenforceability of any term or provision of this Agreement or any other Loan Document, or any investigation made by or on behalf of the
Administrative Agent, the Collateral Agent, any Lender or any Issuing Lender. 
 Section 10.05.    Payment of
Expenses; Indemnity. 
 (a)    The Company agrees to pay all reasonable and documented out-of-pocket expenses
incurred by the Administrative Agent, the Collateral Agent, each Issuing Lender and each other Agent in connection with the syndication of the Facilities (other than fees payable to syndicate members) and the preparation and administration of this
Agreement and the other Loan Documents or in connection with any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions hereby or thereby contemplated shall be consummated) or incurred by the
Administrative Agent, the Collateral Agent, each Issuing Lender, each other Agent or any Lender in connection with the enforcement or preservation of its rights in connection with this Agreement and the other Loan Documents or in connection with the
Loans made or Letters of Credit issued hereunder, including the reasonable and documented fees, charges and disbursements of Shearman & Sterling LLP, counsel for the Administrative Agent and the Collateral Agent, and, in connection with any such
enforcement or preservation, the fees, charges and disbursements of any other counsel for the Administrative Agent, the Collateral Agent, each Issuing Lender, each other Agent and any Lender; provided that, in each case, such payment or
reimbursement obligation shall be limited to a single law firm in any jurisdiction (absent an actual conflict of interest). 

(b)    The Company agrees to indemnify the Administrative Agent, the Collateral Agent, each Lender, each Issuing Lender
and each other Agent and each Related Party of any of the foregoing Persons (each such Person being called an “Indemnitee”) against, and to hold each Indemnitee harmless from, any and all losses, claims, damages, liabilities and
related expenses, including reasonable and documented counsel fees, charges and disbursements (limited, in the case of counsel fees, charges and disbursements, to one counsel for all such Indemnitees, taken as a whole and one local counsel to such
Indemnitees, taken as a whole, in each appropriate jurisdiction, and additional counsel in the case of actual conflict of interest where such Indemnitee informs the Company of such conflict and retains such counsel) to the extent incurred by or
asserted against any Indemnitee arising out of, in connection with, or as a result of (i) the execution or delivery of this Agreement or any other Loan Document or any agreement or instrument contemplated hereby or thereby, the performance by the
parties hereto or thereto of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby (including the syndication of the Facilities), (ii) the use of the proceeds of the Loans or
issuance of Letters of Credit, (iii) any claim, litigation, investigation or proceeding relating to any of the foregoing, whether or not any Indemnitee is a party thereto (and regardless of whether such matter is initiated by a third party or by the
Company, any other Loan Party or any of their respective Affiliates), or (iv) any actual or alleged presence or release of Materials of Environmental Concern at, in, under, on or from any Mortgaged Property (or facilities located thereon) or any
other real property (or facilities located thereon) currently or formerly owned, leased, or operated by the Company or any of its Subsidiaries, or any 

  
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Environmental Liability related in any way to the Company or its Subsidiaries; provided that such indemnity shall not, as to any Indemnitee, be available with respect to any losses,
claims, damages, liabilities or related expenses to the extent that such losses, claims, damages, liabilities or related expenses (A) are determined by a court of competent jurisdiction by final and nonappealable judgment to have resulted from (1)
the bad faith, gross negligence or willful misconduct of such Indemnitee or (2) disputes arising solely among Indemnitees (other than any Agent or its Related Parties in its capacity as an Agent hereunder) and that do not involve any act or omission
by the Company or its Subsidiaries or its controlled Affiliates or (B) arise from any settlement of any proceeding effected without the Company’s written consent (which consent shall not be unreasonably withheld, delayed or conditioned), but if
settled with the Company’s written consent, or if there is a judgment against an Indemnitee in any such proceeding, the Company agrees to indemnify and hold harmless each Indemnitee in the manner set forth in this Section 10.05(b)
(provided that the Company’s consent shall not be required to effect any settlement of any such proceeding if an Event of Default has occurred and is continuing at the time such settlement is to be effected; provided,
further that, if at any time an Indemnitee shall have requested in accordance with this Agreement that the Company reimburse such Indemnitee for legal or other expenses in connection with investigating, responding to or defending any
proceeding, the Company shall be liable for any settlement of any proceeding effected without the Company’s written consent if (x) such settlement is entered into more than 30 days after receipt by the Company of such request for reimbursement
and (y) the Company shall not have reimbursed such Indemnitee in accordance with such request prior to the date of such settlement). All amounts due under this Section 10.05 shall be payable promptly after written demand upon the Company
therefor together with a reasonably detailed invoice. Statements payable by the Company pursuant to this Section 10.05 shall be submitted to Assistant Treasurer (Fax No. 717-763-6409) (Telephone No. 717-763-6402) with a copy to the
General Counsel (Fax No. 717-763-6402), at the address of the Company set forth in Section 10.02, or to such other Person or address as may be hereafter designated by the Company in a notice to the Administrative Agent. Section 10.05(b)
shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, liabilities or related expenses arising from any non-Tax claim. 

(c)    To the extent that the Company fails to pay any amount required to be paid by it to the Administrative Agent, the
Collateral Agent, any Issuing Lender or any other Agent under paragraph (a) or (b) of this Section 10.05, each applicable Lender severally agrees to pay to the Administrative Agent, the Collateral Agent, such Issuing Lender or such other Agent, as
the case may be, such Lender’s pro rata share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought) of such unpaid amount; provided that the unreimbursed expense or indemnified loss, claim,
damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent, the Collateral Agent, such Issuing Lender or such other Agent in its capacity as such. For purposes hereof, a Lender’s
“pro rata share” shall be determined based upon its share of the Aggregate Exposure in respect of the applicable Facility or Facilities at the time (in each case, determined as if no Lender were a Defaulting Lender). 

(d)    To the extent permitted by applicable law, none of the parties hereto shall assert, and each party hereto and each
Indemnitee hereby waives, any claim against any other party hereto, on any theory of liability, for special, indirect, consequential or punitive damages (as 

  
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opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement or any agreement or instrument contemplated hereby, any Loan or Letter of Credit or the
use of the proceeds thereof; provided that the foregoing shall not relieve the Company of its indemnification obligations set forth in Section 10.05(b) to the extent any Indemnitee is found so liable. 

(e)    The provisions of this Section 10.05 shall remain operative and in full force and effect regardless of the
expiration of the term of this Agreement, the consummation of the transactions contemplated hereby, the repayment of any of the Loans, the expiration of the Commitments, the expiration of any Letter of Credit, the invalidity or unenforceability of
any term or provision of this Agreement or any other Loan Document, or any investigation made by or on behalf of the Administrative Agent, the Collateral Agent, any Lender, any Issuing Lender or any other Agent. 

Section 10.06.    Successors and Assigns; Participations and Assignments. (a) This Agreement shall be binding
upon and inure to the benefit of the Borrowers, the Lenders, the Agents, the Issuing Lenders, all future holders of the Loans and their respective successors and assigns, except that no Borrower may assign or transfer any of its rights or
obligations under this Agreement without the prior written consent of the Agents, each Issuing Lender and each Lender (provided that a Borrower may merge or consolidate with another Borrower in accordance with Section 7.04). 

(b)    Any Lender may, without the consent of, or notice to, any Borrower or the Administrative Agent, in accordance with
applicable law, at any time sell to one or more banks, financial institutions or other entities (other than the Company or any of its controlled Affiliates, a natural person (or holding company, investment vehicle or trust for, or owned and operated
for the primary benefit of a natural person) or a Defaulting Lender) (each, a “Participant”) participating interests in any Loan owing to such Lender, any Commitment of such Lender or any other interest of such Lender hereunder and
under the other Loan Documents. In the event of any such sale by a Lender of a participating interest to a Participant, such Lender’s obligations under this Agreement to the other parties to this Agreement shall remain unchanged, such
Lender shall remain solely responsible for the performance thereof, such Lender shall remain the holder of any such Loan for all purposes under this Agreement and the other Loan Documents, and the Borrowers and the Agents shall continue to deal
solely and directly with such Lender in connection with such Lender’s rights and obligations under this Agreement and the other Loan Documents. In no event shall any Participant under any such participation have any right to enforce this
agreement or to approve any amendment or waiver of any provision of any Loan Document, or any consent to any departure by any Loan Party therefrom, except to the extent that such amendment, waiver or consent would require the consent of all Lenders,
all affected Lenders or all affected Lenders under a particular Facility pursuant to Section 10.01. Each Borrower agrees that if amounts outstanding under this Agreement and the Loans are due or unpaid, or shall have been declared or shall have
become due and payable upon the occurrence of an Event of Default, each Participant shall, to the maximum extent permitted by applicable law, be deemed to have the right of setoff in respect of its participating interest in amounts owing under this
Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Lender under this Agreement, provided that, in purchasing such participating interest, such Participant shall be deemed to have agreed
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thereof as provided in Section 10.07(a) as fully as if such Participant were a Lender hereunder. Each Borrower also agrees that each Participant shall be entitled to the benefits of Sections
2.19, 2.20 and 2.21 as if such Participant were a Lender (subject to the requirements and limitations therein, including the requirements under Section 2.20(e), (f) or (h) (it being understood that the documentation required under Section 2.20(e),
(f) or (h) shall be delivered to the transferor Lender)); provided that no Participant shall be entitled to receive any greater amount pursuant to any such Section than the transferor Lender would have been entitled to receive in respect
of the amount of the participation transferred by such transferor Lender to such Participant had no such transfer occurred except to the extent such entitlement to receive a greater payment results from a Change in Law that occurs after the
Participant acquired the applicable participation. Each Lender that sells a participation shall, acting solely for this purpose as a non-fiduciary agent of the Borrower, maintain a register on which it enters the name and address of each
participant and the principal amounts (and interest thereon) of each participant’s interest in the Loans or other Obligations under this Agreement (the “Participant Register”); provided that no Lender shall have any
obligation to disclose all or any portion of the Participant Register to any Person (including the identity of any participant or any information relating to a participant’s interest in any Commitments, Loans or its other obligations under this
Agreement) except to the extent that the relevant parties, acting reasonably and in good faith, determine that such disclosure is necessary to establish that such Commitment, Loan or other obligation is in registered form under Section 5f.103-1(c)
of the United States Treasury Regulations. The entries in the Participant Register shall be conclusive absent manifest error, and the Borrowers, the Lenders and each Agent shall treat each Person whose name is recorded in the Participant Register as
the owner of such participation for all purposes of this Agreement, notwithstanding notice to the contrary. 

(c)    Any Lender (an “Assignor”) may, in accordance with applicable law, at any time and from time to
time assign to one or more Eligible Assignees (an “Assignee”) all or any part of its rights and obligations under this Agreement, with the written consent of the Administrative Agent, the Company and, in the case of any assignment
of Revolving Credit Commitments, each Issuing Lender (in each case which shall not be unreasonably withheld, delayed or conditioned and, in the case of the Company, shall be deemed given if such consent is not received or expressly declined in
writing within ten Business Days after request (in accordance with Section 10.02) therefor) pursuant to an Assignment and Acceptance, substantially in the form of Exhibit D or any other form approved by the Administrative Agent (an
“Assignment and Acceptance”), executed by such Assignee and such Assignor (and, where the consent of the Company, the Administrative Agent or each Issuing Lender is required pursuant to the foregoing provisions, by the Company and
such other Persons) and delivered to the Administrative Agent (A) via an electronic settlement system satisfactory to the Administrative Agent or (B) if previously agreed by the Administrative Agent, manually, for its acceptance and recording in the
Register; provided that no such assignment to an Assignee (other than any Lender or any Affiliate or Related Fund thereof) shall be in an aggregate principal amount (determined as of the date of the relevant Assignment and Acceptance or, if
“Trade Date” is specified in the Assignment and Acceptance, as of the Trade Date) of less than (i) $1,000,000, in the case of Term Loans and (ii) $2,500,000, in the case of Revolving Credit Commitments (in each case, other than in the case
of an assignment of all of a Lender’s interests under this Agreement), unless otherwise agreed by the Company and the Administrative Agent (each such consent not to be unreasonably withheld or delayed). Any such assignment need not be
ratable as among the Facilities. Upon such 

  
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execution, delivery, acceptance and recording, from and after the effective date determined pursuant to such Assignment and Acceptance, (x) the Assignee thereunder shall be a party hereto and, to
the extent provided in such Assignment and Acceptance, have the rights and obligations of a Lender hereunder with Commitments and/or Loans as set forth therein, and (y) the Assignor thereunder shall, to the extent provided in such Assignment and
Acceptance, be released from its obligations under this Agreement (and, in the case of an Assignment and Acceptance covering all of an Assignor’s rights and obligations under this Agreement, such Assignor shall cease to be a party hereto,
except as to Section 2.19, 2.20 and 10.05 in respect of the period prior to such effective date). Notwithstanding any provision of this Section 10.06 to the contrary, (I) the consent of the Company shall not be required for any assignment (x)
in the case of any assignment of Term Loans, to another Lender, an Affiliate of a Lender or a Related Fund of a Lender and, in the case of any assignment of Revolving Credit Commitments, to another Revolving Credit Lender, an Affiliate of a
Revolving Credit Lender or a Related Fund of a Revolving Credit Lender, (y) that occurs at any time when any Event of Default under Article 8(a) or Article 8(f) shall have occurred and be continuing or (z) during the primary syndication of the Term
Loans and the Term Loan Commitments to Persons identified in writing to the Company as syndication targets prior to the Closing Date and (II) the consent of the Administrative Agent shall not be required for any assignment of Term Loans to another
Lender, an Affiliate of a Lender or a Related Fund of a Lender. For purposes of the minimum assignment amounts set forth in this paragraph, multiple assignments by two or more Related Funds shall be aggregated. 

(d)    By executing and delivering an Assignment and Acceptance, the assigning Lender thereunder and the assignee
thereunder shall be deemed to confirm to and agree with each other and the other parties hereto as follows: (i) such assigning Lender warrants that it is the legal and beneficial owner of the interest being assigned thereby free and clear of
any adverse claim and that its Term Loan Commitment and Revolving Credit Commitment, and the outstanding balances of its Term Loans and Revolving Credit Loans, in each case without giving effect to assignments thereof which have not become
effective, are as set forth in such Assignment and Acceptance, (ii) except as set forth in clause (i) above or otherwise agreed in writing between such assigning Lender and such assignee, such assigning Lender makes no representation or warranty and
assumes no responsibility with respect to any statements, warranties or representations made in or in connection with this Agreement, or the execution, legality, validity, enforceability, genuineness, sufficiency or value of this Agreement, any
other Loan Document or any other instrument or document furnished pursuant hereto, or the financial condition of the Company or any Subsidiary or the performance or observance by the Company or any Subsidiary of any of its obligations under this
Agreement, any other Loan Document or any other instrument or document furnished pursuant hereto; (iii) such assignee represents and warrants that it is an Eligible Assignee legally authorized to enter into such Assignment and Acceptance; (iv) such
assignee confirms that it has received a copy of this Agreement, together with copies of the most recent financial statements referred to in Section 4.01 or delivered pursuant to Section 6.01 and such other documents and information as it has deemed
appropriate to make its own credit analysis and decision to enter into such Assignment and Acceptance; (v) such assignee will independently and without reliance upon the Administrative Agent, the Collateral Agent, such assigning Lender or any other
Lender and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under this Agreement; (vi) such assignee appoints and authorizes the

  
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Administrative Agent and the Collateral Agent to take such action as agent on its behalf and to exercise such powers under this Agreement as are delegated to the Administrative Agent and the
Collateral Agent, respectively, by the terms hereof, together with such powers as are reasonably incidental thereto; and (vii) such assignee agrees that it will perform in accordance with their terms all the obligations which by the terms of this
Agreement are required to be performed by it as a Lender. 
 (e)    The Administrative Agent, acting for this purpose as
agent of the Borrowers, shall maintain at one of its addresses in the City of New York a copy of each Assignment and Acceptance delivered to it and a register with respect to the applicable Facility (each, a “Register”) for the
recordation of the names and addresses of the applicable Lenders and the Commitment of, and principal amount of the applicable Loans owing to, each applicable Lender from time to time. The entries in such Register shall be conclusive, in the
absence of manifest error, and the Borrowers, each Agent and the Lenders shall treat each Person whose name is recorded in the Register as the owner of the Loans and any Notes evidencing such Loans recorded therein for all purposes of this
Agreement. Any assignment of any Loan, whether or not evidenced by a Note, shall be effective only upon appropriate entries with respect thereto being made in such Register (and each Note shall expressly so provide). Any assignment or
transfer of all or part of a Loan evidenced by a Note shall be registered on such Register only upon surrender for registration of assignment or transfer of the Note evidencing such Loan, accompanied by a duly executed Assignment and Acceptance;
thereupon, if requested by the Assignee, one or more new Notes in the same aggregate principal amount shall be issued to the designated Assignee, and the old Notes shall be returned by the Administrative Agent to the Company marked
“canceled”. Such Register shall be available for inspection by the Borrowers or any Lender (with respect to any entry relating to such Lender’s Loans) at any reasonable time and from time to time upon reasonable prior notice.

 (f)    Upon its receipt of an Assignment and Acceptance executed by an Assignor and an Assignee (and, in any case
where the consent of any other Person is required by Section 10.06(c), by each such other Person) together with payment to the Administrative Agent of a registration and processing fee of $3,500 (which fee may be waived or reduced in the sole
discretion of the Administrative Agent), an Administrative Questionnaire completed in respect of the assignee (unless the assignee shall already be a Lender hereunder) and any applicable tax forms and other documentation required pursuant to
Sections 2.20(e), (f) or (h), the Administrative Agent shall (i) promptly accept such Assignment and Acceptance and (ii) on the effective date determined pursuant thereto record the information contained therein in the Register. Each Borrower,
at its own expense, promptly upon request, shall execute and deliver to the Administrative Agent (in exchange for the Revolving Credit Note and/or applicable Term Notes, as the case may be, of the assigning Lender) a new Revolving Credit Note and/or
applicable Term Notes, as the case may be, to the order of such Assignee in an amount equal to the Revolving Credit Commitment and/or applicable Term Loans, as the case may be, assumed or acquired by it pursuant to such Assignment and Acceptance
and, if the Assignor has retained a Revolving Credit Commitment and/or Term Loans, as the case may be, upon request, a new Revolving Credit Note and/or Term Notes, as the case may be, to the order of the Assignor in an amount equal to the Revolving
Credit Commitment and/or applicable Term Loans, as the case may be, retained by it hereunder. Such new Note or Notes shall be dated the Closing Date and shall otherwise be in the form of the Note or Notes replaced thereby. 

  
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 (g)    Subject to Section 10.15, any Lender or participant may, in connection
with any assignment or participation or proposed assignment or participation pursuant to this Section 10.06, disclose to the assignee or participant or proposed assignee or participant any information relating to the Company furnished to such Lender
by or on behalf of the Company, including notification of the inclusion of, if applicable, material non-public information regarding the Company and/or its Restricted Subsidiaries. 

(h)    For avoidance of doubt, the parties to this Agreement acknowledge that the provisions of this
Section concerning assignments of Loans and Notes relate only to absolute assignments and that such provisions do not prohibit assignments creating security interests in Loans and Notes, including, without limitation, any pledge or assignment
by a Lender of any Loan or Note to any Federal Reserve Bank in accordance with applicable law; provided that no such assignment shall release a Lender from any of its obligations hereunder or substitute any such assignee for such Lender as a
party hereto. 
 (i)    Notwithstanding anything to the contrary contained herein, any Lender (a “Granting
Lender”) may grant to a special purpose funding vehicle (an “SPC”), identified as such in writing from time to time by the Granting Lender to the Administrative Agent and the Company, the option to provide to the Borrowers
all or any part of any Loan that such Granting Lender would otherwise be obligated to make to the Borrowers pursuant to this Agreement; provided that (i) nothing herein shall constitute a commitment by any SPC to make any Loan and (ii) if an
SPC elects not to exercise such option or otherwise fails to provide all or any part of such Loan, the Granting Lender shall be obligated to make such Loan pursuant to the terms hereof. The making of a Loan by an SPC hereunder shall utilize the
Commitment of the Granting Lender to the same extent, and as if, such Loan were made by such Granting Lender. Each party hereto hereby agrees that no SPC shall be liable for any indemnity or similar payment obligation under this Agreement (all
liability for which shall remain with the Granting Lender). In furtherance of the foregoing, each party hereto hereby agrees (which agreement shall survive the termination of this Agreement) that, prior to the date that is one year and one day
after the payment in full of all outstanding commercial paper or other indebtedness of any SPC, it will not institute against, or join any other person in instituting against, such SPC any bankruptcy, reorganization, arrangement, insolvency or
liquidation proceedings under the laws of the United States or any state thereof. In addition, notwithstanding anything to the contrary in this Section 10.06(i), any SPC may (A) with notice to, but without the prior written consent of, the
Company and the Administrative Agent and without paying any processing fee therefor, assign all or a portion of its interests in any Loans to the Granting Lender, or with the prior written consent of the Company and the Administrative Agent (which
consent shall not be unreasonably withheld, delayed or conditioned) to any financial institutions (other than Disqualified Institutions) providing liquidity and/or credit support to or for the account of such SPC to support the funding or
maintenance of Loans, and (B) disclose on a confidential basis in accordance with Section 10.15 any non-public information relating to its Loans to any rating agency, commercial paper dealer or provider of any surety, guarantee or credit or
liquidity enhancement to such SPC; provided that non-public information with respect to the Company or its Subsidiaries may be disclosed only with the Company’s consent which will not be unreasonably withheld, delayed or conditioned.

 (j)    [Reserved.] 

  
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 (k)    So long as no Default has occurred or is continuing or would result
therefrom, any Lender may, at any time, assign all or a portion of its rights and obligations under this Agreement in respect of its Term Loans to the Company on a non-pro rata basis through (and solely through) Dutch Auctions open to all Lenders,
subject to the following limitations and other provisions: 
 (i)    the maximum principal amount
(calculated on the face amount thereof) of all Term Loans that the Company may offer to purchase or take assignment of shall not exceed 25% of the aggregate principal amount of Term Loans made on the Closing Date; 

(ii)    the Company will not be entitled to receive, and will not receive, information provided solely to
Lenders by the Administrative Agent or any Term Loan Lender and will not be permitted to attend or participate in, and will not attend or participate in, meetings or conference calls attended solely by the Term Loan Lenders and the Administrative
Agent; 
 (iii)    borrowings shall not be made under the Revolving Credit Facility to directly or
indirectly fund the purchase or assignment; 
 (iv)    any Term Loans purchased by the Company shall be
automatically and permanently cancelled immediately upon acquisition by the Company; 

(v)    notwithstanding anything to the contrary contained herein (including in the definitions of
“Consolidated Net Income” and “Consolidated EBITDA”) any noncash gains in respect of “cancellation of indebtedness” resulting from the cancellation of any Term Loans purchased by the Company shall be excluded from the
determination of Consolidated Net Income and Consolidated EBITDA; 
 (vi)    the cancellation of Term
Loans in connection with a Dutch Auction shall not constitute a voluntary or mandatory prepayment for purposes of Section 2.11 or 2.12, but the face amount of Term Loans cancelled as provided for in clause (iv) above shall be applied on a pro rata
basis to the remaining scheduled installments of principal due in respect of the Term Loans; and 

(vii)    the Company shall represent and warrant as of the date of any such purchase and assignment that
neither the Company nor any of its officers has any material non-public information with respect to the Company or any of its Restricted Subsidiaries or securities that has not been disclosed to the assigning Lender (other than because such
assigning Lender does not wish to receive material non-public information with respect to the Company and its Restricted Subsidiaries or securities) prior to such date to the extent such information could reasonably be expected to have a material
effect upon, or otherwise be material, to a Term Loan Lender’s decision to assign Term Loans to the Company, in each case except to the extent that such Lender has entered into a customary “big boy” letter with the Company. 

(l)    (i) No assignment or participation shall be made to any Disqualified Institution (unless the Company has consented
to such assignment in writing in its sole and absolute discretion, in which case such Person will not be considered a Disqualified Institution for the purpose of such assignment or participation). Any assignment in violation of this clause (i)
shall not be void, but the other provisions of this clause (i) shall apply. 

  
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 (ii)    If any assignment or participation is made to any
Disqualified Institution without the Borrower’s prior written consent in violation of clause (i) above, the Company may, at its sole expense and effort, upon notice to the applicable Disqualified Institution and the Administrative Agent, (A)
terminate any Revolving Credit Commitment of such Disqualified Institution and repay all obligations of the Borrower owing to such Disqualified Institution in connection with such Revolving Credit Commitment, (B) in the case of outstanding Term
Loans held by Disqualified Institutions, purchase or prepay such Term Loan by paying the lesser of (x) the principal amount thereof and (y) the amount that such Disqualified Institution paid to acquire such Term Loans, in each case plus
accrued interest, accrued fees and all other amounts (other than principal amounts) payable to it hereunder and/or (C) require such Disqualified Institution to assign, without recourse (in accordance with and subject to the restrictions contained in
this Section 10.06), all of its interest, rights and obligations under this Agreement to one or more Eligible Assignees at the lesser of (x) the principal amount thereof and (y) the amount that such Disqualified Institution paid to acquire
such interests, rights and obligations, in each case plus accrued interest, accrued fees and all other amounts (other than principal amounts) payable to it hereunder. 

(iii)    Notwithstanding anything to the contrary contained in this Agreement, Disqualified Institutions
(A) will not (x) have the right to receive information, reports or other materials provided to Lenders by the Company, the Administrative Agent or any other Lender, (y) attend or participate in meetings attended by the Lenders and the Administrative
Agent, or (z) access any electronic site established for the Lenders or confidential communications from counsel to or financial advisors of the Administrative Agent or the Lenders and (B) (x) for purposes of any consent to any amendment, waiver or
modification of, or any action under, and for the purpose of any direction to the Administrative Agent, the Collateral Agent or any Lender to undertake any action (or refrain from taking any action) under this Agreement or any other Loan Document,
each Disqualified Institution will be deemed to have consented in the same proportion as the Lenders that are not Disqualified Institutions consented to such matter, and (y) for purposes of voting on any Bankruptcy Plan, each Disqualified
Institution party hereto hereby agrees (1) not to vote on such Bankruptcy Plan, (2) if such Disqualified Institution does vote on such Bankruptcy Plan notwithstanding the restriction in the foregoing clause (1), such vote will be deemed not to be in
good faith and shall be “designated” pursuant to Section 1126(e) of the Bankruptcy Code (or any similar provision in any other Debtor Relief Laws), and such vote shall not be counted in determining whether the applicable class
has accepted or rejected such Bankruptcy Plan in accordance with Section 1126(c) of the Bankruptcy Code (or any similar provision in any other Debtor Relief Laws) and (3) not to contest any request by any party for a determination by any
applicable bankruptcy court (or other applicable court of competent jurisdiction) effectuating the foregoing clause (2). 

  
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 (iv)    The Administrative Agent shall have the right, and
the Borrower hereby expressly authorizes the Administrative Agent, to (A) post the list of Disqualified Institutions provided by the Borrower (collectively, the “DQ List”) on the Platform, including that portion of the Platform that
is designated for “public side” Lenders and/or (B) provide the DQ List to each Lender requesting the same. Notwithstanding the foregoing, the Administrative Agent shall not (x) be obligated to ascertain, monitor or inquire as to
whether any Lender or Participant is a Disqualified Institution nor (y) have any liability with respect to any assignment or participation of Loans to any Disqualified Institution. 

Section 10.07.    Adjustments; Set Off. (a) Except (x) to the extent that this Agreement provides for payments
to be allocated to a particular Lender or to the Lenders under a particular Facility (or provides for the application of funds arising from the existence of a Defaulting Lender) or (y) to the extent any payment is obtained by a Lender as
consideration for the assignment of or sale of a participation in any of its Loans or L/C Disbursements to any assignee or participant (other than to the Company or any Subsidiary thereof, except pursuant to Section 10.06(k)), if any Lender (a
“Benefitted Lender”) shall at any time receive any payment of all or part of the Obligations owing to it, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set off, pursuant to events or
proceedings of the nature referred to in paragraph (f) of Article 8, or otherwise), in a proportion greater than its pro rata share of any such payment to or collateral received by any other Lender, if any, in respect of such other Lender’s
obligations under this Agreement, such Benefitted Lender shall (i) notify the Administrative Agent and each other Lender of the receipt of such payment and (ii) purchase for cash at face value from the other Lenders a participating interest in such
portion of each such other Lender’s obligations under this Agreement, or shall provide such other Lenders with the benefits of any such collateral, as shall be necessary to cause such Benefitted Lender to share the excess payment or benefits of
such collateral ratably with each of the Lenders; provided, that if all or any portion of such excess payment or benefits is thereafter recovered from such Benefitted Lender, such purchase shall be rescinded, and the purchase price and
benefits returned, to the extent of such recovery, but without interest. Each Borrower expressly consents to the foregoing arrangements and agrees that any Lender holding a participation in a Lender’s obligations under this Agreement
deemed to have been so purchased may exercise any and all rights of setoff as set forth in clause (b) below by reason thereof as fully as if such Lender had made a Loan directly to such Borrower in the amount of such participation. 

(b)    In addition to any rights and remedies of the Lenders provided by law, each Lender and each Issuing Lender shall
have the right, without prior notice to the Borrowers, any such notice being expressly waived by the Borrowers to the extent permitted by applicable law, upon any amount becoming due and payable by any Borrower hereunder (whether at the stated
maturity, by acceleration or otherwise) after the occurrence and during the continuance of an Event of Default, to set off and appropriate and apply against such amount any and all deposits (general or special, time or demand, provisional or final),
in any currency, and any other credits, indebtedness or claims, in any currency, in each case whether direct or indirect, absolute or contingent, matured or unmatured, at any time held or owing by such Lender or Issuing Lender or any branch or
agency thereof to or for the credit or the account of any Borrower; provided that if any Defaulting Lender shall exercise such right of setoff, (x) all amounts so set off shall be paid over immediately to the Administrative Agent for further
application in accordance with the provisions of Section 2.27 and, pending such payment, shall be segregated by such Defaulting Lender from its other funds and deemed held in trust for the benefit of the Administrative Agent,

  
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the Collateral Agent, the Issuing Lenders and the Lenders, and (y) the Defaulting Lender shall provide promptly to the Administrative Agent a statement describing in reasonable detail the
Obligations owing to such Defaulting Lender as to which it exercised such right of setoff. Each Lender and each Issuing Lender agrees promptly to notify the Company and the Administrative Agent after any such setoff and application made by such
Lender or such Issuing Lender, provided that the failure to give such notice shall not affect the validity of such setoff and application. 

Section 10.08.    Counterparts. (a) This Agreement may be executed by one or more of the parties to this
Agreement on any number of separate counterparts, and all of said counterparts taken together shall be deemed to constitute one and the same instrument. Delivery of an executed signature page of this Agreement by facsimile or other electronic
transmission (e.g. by .PDF or .TIF file) shall be effective as delivery of a manually executed counterpart hereof. 

(b)    The words “execution,” “signed,” “signature,” and words of like import in any
Assignment and Acceptance shall be deemed to include electronic signatures or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a
paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act,
or any other similar state laws based on the Uniform Electronic Transactions Act. 
 Section
10.09.    Severability. Any provision of this Agreement that is invalid, illegal, prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such invalidity,
illegality, prohibition or unenforceability without affecting, impairing or invalidating the remaining provisions hereof, and any such invalidity, illegality, prohibition or unenforceability in any jurisdiction shall not affect, impair, invalidate
or render unenforceable such provision in any other jurisdiction. The parties shall endeavor in good-faith negotiations to replace the invalid, illegal or unenforceable provisions with valid provisions the economic effect of which comes as
close as possible to that of the invalid, illegal or unenforceable provisions. 
 Section
10.10.    Integration. This Agreement, the other Loan Documents, the amended and restated engagement letter dated as of November 1, 2016 among the Company and the arrangers party thereto and any fee letters executed
by the Company and the Administrative Agent, the Collateral Agent or any arranger represent the entire agreement of the Borrowers, the Agents and the Lenders with respect to the subject matter hereof and thereof, and there are no promises,
undertakings, representations or warranties by any Agent or any Lender relative to the subject matter hereof not expressly set forth herein or in the other Loan Documents. 

Section 10.11.    GOVERNING LAW. THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS (OTHER THAN LETTERS OF CREDIT AND
AS EXPRESSLY SET FORTH IN OTHER LOAN DOCUMENTS) AND ANY CLAIM, CONTROVERSY, DISPUTE OR CAUSE OF ACTION BASED UPON, ARISING OUT OF OR RELATED TO THIS AGREEMENT OR ANY SUCH OTHER LOAN DOCUMENTS AND THE TRANSACTIONS CONTEMPLATED HEREBY AND THEREBY
(INCLUDING, WITHOUT LIMITATION, ANY CLAIMS SOUNDING IN CONTRACT LAW OR TORT LAW OR OTHERWISE 

  
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ARISING OUT OF THE SUBJECT MATTER HEREOF) SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAW OF THE STATE OF NEW YORK. EACH LETTER OF CREDIT SHALL BE GOVERNED BY, AND SHALL BE
CONSTRUED IN ACCORDANCE WITH, THE LAWS OR RULES DESIGNATED IN SUCH LETTER OF CREDIT, OR IF NO SUCH LAWS OR RULES ARE DESIGNATED, THE UNIFORM CUSTOMS AND PRACTICE FOR DOCUMENTARY CREDITS MOST RECENTLY PUBLISHED AND IN EFFECT, ON THE DATE SUCH LETTER
OF CREDIT WAS ISSUED, BY THE INTERNATIONAL CHAMBER OF COMMERCE (THE “UNIFORM CUSTOMS”) AND, AS TO MATTERS NOT GOVERNED BY THE UNIFORM CUSTOMS, THE LAWS OF THE STATE OF NEW YORK. 

Section 10.12.    Submission to Jurisdiction; Waivers. 

(a)    Each of the parties hereto hereby irrevocably and unconditionally submits, for itself and its Property, to the
exclusive jurisdiction of any New York State court or Federal court of the United States of America sitting in the borough of Manhattan, and any appellate court from any thereof, in any action or proceeding arising out of or relating to this
Agreement or the other Loan Documents, or for recognition or enforcement of any judgment, and each of the parties hereto hereby irrevocably and unconditionally agrees that all claims in respect of any such action or proceeding may be heard and
determined in such New York State or, to the extent permitted by law, in such Federal court. Each of the parties hereto agrees that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions
by suit on the judgment or in any other manner provided by law. 
 (b)    Each of the parties hereby irrevocably and
unconditionally waives, to the fullest extent it may legally and effectively do so, any objection which it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to this Agreement or the other
Loan Documents in any New York State or Federal court referred to in clause (a) above. Each of the parties hereto hereby irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance of such
action or proceeding in any such court. 
 (c)    Each party to this Agreement irrevocably consents to service of
process in the manner provided for notices in Section 10.02. Nothing in this Agreement will affect the right of any party to this Agreement to serve process in any other manner permitted by law. 

Section 10.13.    Judgment Currency. If, for the purpose of obtaining judgment in any court, it is necessary
to convert a sum due hereunder in U.S. Dollars into another currency, the parties hereto agree, to the fullest extent that they may legally and effectively do so, that the rate of exchange used shall be that at which in accordance with normal
banking procedures the Administrative Agent could purchase U.S. Dollars with such other currency in New York, New York, on the Business Day immediately preceding the day on which final judgment is given. 

The obligation of any Borrower in respect of any sum due to any Lender hereunder in U.S. Dollars shall, to the extent permitted by applicable
law, notwithstanding any judgment in a currency other than Dollars, be discharged only to the extent that on the Business Day following receipt of any sum adjudged to be so due in the judgment currency such Lender may in

  
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accordance with normal banking procedures purchase U.S. Dollars in the amount originally due to such Lender with the judgment currency. If the amount of U.S. Dollars so purchased is less
than the sum originally due to such Lender, each Borrower agrees, as a separate obligation and notwithstanding any such judgment, to indemnify such Lender against the resulting loss; and if the amount of U.S. Dollars so purchased is greater than the
sum originally due to such Lender, such Lender agrees to repay such excess. 
 Section
10.14.    Acknowledgments. Each Borrower hereby acknowledges that: 
 (a)    it has been
advised by counsel in the negotiation, execution and delivery of this Agreement and the other Loan Documents; 

(b)    no Agent nor any Lender has any fiduciary relationship with or duty to such Borrower arising out of or in
connection with this Agreement or any of the other Loan Documents, and the relationship between the Agents and the Lenders, on one hand, and the Borrowers, on the other hand, in connection herewith or therewith is solely that of debtor and creditor;
and 
 (c)    no joint venture is created hereby or by the other Loan Documents or otherwise exists by virtue of the
transactions contemplated hereby among the Agents and the Lenders or among the Borrowers and the Lenders. 
 Section
10.15.    Confidentiality. Each of the Agents, the Issuing Lenders and the Lenders agrees to keep confidential all Information (as defined below); provided that nothing herein shall prevent any Agent, any
Issuing Lender or any Lender from disclosing any such Information (a) to any Agent, any other Lender or any Affiliate of any thereof (including such Lender), (b) subject to Section 10.06(g) and except to any Disqualified Institution to the extent
that a list thereof has been made available to the Lenders, to any Participant or Assignee (each, a “Transferee”) or prospective Transferee or to any actual or prospective counterparty (or its advisors) to any swap or derivative
transaction relating to the Company or any Subsidiary or any of their respective obligations, in each case, that agrees to comply with the provisions of this Section or substantially equivalent provisions, (c) to any of its officers, employees,
directors, agents, attorneys, accountants and other professional advisors and any numbering, administration or settlement service providers (it being understood that the Persons to whom such disclosure is made will be informed of the confidential
nature of such Information and instructed to keep such Information confidential), (d) upon the request or demand of any Governmental Authority having jurisdiction over it, (e) in response to any order of any court or other Governmental Authority or
as may otherwise be required pursuant to any Requirement of Law, (f) in connection with any litigation or similar proceeding, (g) that has been publicly disclosed other than in breach of this Section 10.15, (h) to any regulatory authority or
quasi-regulatory authority (such as the National Association of Insurance Commissioners or any similar organization) or any nationally recognized rating agency that requires access to information about a Lender’s investment portfolio in
connection with ratings issued with respect to such Lender, (i) in connection with the exercise of any remedy hereunder or under any other Loan Document or (j) with the consent of the Company. For the purposes of this Section,
“Information” shall mean all information received from or on behalf of any Loan Party and related to the Company or its Restricted Subsidiaries or any of their business, other than any such information that was

  
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available to the Administrative Agent, the Collateral Agent, any Issuing Lender or any Lender on a nonconfidential basis prior to such disclosure. Any Person required to maintain the
confidentiality of Information as provided in this Section 10.15 shall be considered to have complied with its obligation to do so if such Person has exercised the same degree of care to maintain the confidentiality of such Information as such
Person would accord its own confidential information. Notwithstanding the foregoing, the Administrative Agent and the Lenders may disclose the existence of this Agreement and information about this Agreement to market data collectors, similar
service providers to the lending industry and service providers to the Agents and the Lenders in connection with the administration of this Agreement, the other Loan Documents, and the Commitments. 

Section 10.16.    Release of Collateral and Guarantee Obligations. 

(a)    Notwithstanding anything to the contrary contained herein or in any other Loan Document, upon the request of the
Company in connection with (i) any Disposition of Property permitted by the Loan Documents (other than a Disposition to a Loan Party) or (ii) any merger, consolidation or amalgamation permitted by the Loan Documents, the Collateral Agent shall
(without notice to, or vote or consent of, any Designated Bilateral Letter of Credit Issuer or any Lender or any Affiliate of any Lender that is a party to any Specified Hedge Agreement or Specified Cash Management Agreement) take such actions as
shall be required to release its security interest in any Collateral being Disposed of in such Disposition (but not in any proceeds thereof) or any Capital Stock necessary to permit consummation of such merger, consolidation or amalgamation
(provided, to the extent applicable, the Company shall comply with Section 6.08 in connection therewith), and to release any guarantee obligations under the Loan Documents of any Person being Disposed of in such Disposition or any entity that
is not the surviving entity of any merger, consolidation or amalgamation, to the extent necessary to permit consummation of such Disposition, merger, consolidation or amalgamation in accordance with the Loan Documents. 

(b)    Notwithstanding anything to the contrary contained herein or in any other Loan Document, when all Obligations
(other than obligations in respect of any Specified Hedge Agreement, any Specified Cash Management Agreement or any Designated Bilateral Letter of Credit, contingent indemnity obligations not then due and payable and contingent reimbursement
obligations in respect of outstanding Letters of Credit) have been paid in full, all Commitments have terminated or expired and no Letter of Credit shall be outstanding (or all outstanding Letters of Credit have been cash collateralized, or in
respect of which back-stop letters of credit have been provided, in each case in an amount equal to 103% of the aggregate outstanding face amount thereof and pursuant to arrangements otherwise reasonably satisfactory to the Administrative Agent and
each applicable Issuing Lender), upon the request of the Company, the Collateral Agent shall (without notice to, or vote or consent of, any Lender, any Affiliate of any Lender that is party to any Specified Hedge Agreement, Specified Cash Management
Agreement or Designated Bilateral Letter of Credit) take such actions as shall be required to release its security interest in all Collateral, and to release all guarantee obligations under any Loan Document, whether or not on the date of such
release there may be outstanding Obligations in respect of Specified Hedge Agreements, Specified Cash Management Agreements or Designated Bilateral Letters of Credit. Any such release of guarantee obligations shall be deemed subject to the
provision that such guarantee obligations shall be reinstated if after such release any portion 

  
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of any payment in respect of the Obligations guaranteed thereby shall be rescinded or must otherwise be restored or returned upon the insolvency, bankruptcy, dissolution, liquidation or
reorganization of any Borrower or any Subsidiary Guarantor, or upon or as a result of the appointment of a receiver, intervenor or conservator of, or trustee or similar officer for, any Borrower or any Subsidiary Guarantor or any substantial part of
its property, or otherwise, all as though such payment had not been made. 
 (c)    No Agent shall be responsible for or
have a duty to ascertain or inquire into any representation or warranty regarding the existence, value or collectability of the Collateral, the existence, priority or perfection of the Collateral Agent’s Lien thereon, or any certificate
prepared by any Loan Party in connection therewith, nor shall any Agent be responsible or liable to the Lenders for any failure to monitor or maintain any portion of the Collateral. 

(d)    If as a result of any transaction not prohibited by this Agreement any Subsidiary Guarantor becomes an Excluded
Subsidiary, then any guarantee obligations of such Subsidiary Guarantor under the Loan Documents shall be automatically released. In connection with any termination or release pursuant to this Section 10.16(d), the Collateral Agent shall
promptly execute and deliver to any Loan Party, at such Loan Party’s expense, all documents that such Loan Party shall reasonably request to evidence such termination or release. 

Section 10.17.    WAIVERS OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY
APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT OR ANY OF THE OTHER LOAN DOCUMENTS OR THE TRANSACTIONS CONTEMPLATED HEREBY
OR THEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE
EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS, AS APPLICABLE, BY, AMONG OTHER THINGS, THE MUTUAL
WAIVERS AND CERTIFICATIONS IN THIS SECTION 10.17. 
 Section 10.18.    USA PATRIOT Act Notice. Each Lender
and the Administrative Agent (for itself and not on behalf of any Lender) hereby notifies the Loan Parties that pursuant to the requirements of the USA PATRIOT Act, it is required to obtain, verify and record information that identifies the Loan
Parties, which information includes the name and address of the Loan Parties and other information that will allow such Lender or the Administrative Agent, as applicable, to identify the Loan Parties in accordance with the USA PATRIOT Act. 

Section 10.19.    Replacement Lenders. (a) The Company shall be permitted to replace any Lender that is a
Defaulting Lender; provided that (A) such replacement or removal does not conflict with any Requirement of Law, (B) the Company shall be liable to such replaced Lender under Section 2.21 (as though Section 2.21 were applicable) if any
Eurocurrency Loan owing to such replaced Lender shall be purchased other than on the last day of the Interest Period or 

  
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maturity date relating thereto, (C) the replacement financial institution shall purchase, at par, all Loans and other amounts owing to such replaced Lender on or prior to the date of replacement,
(D) the replaced Lender shall be obligated to make such replacement in accordance with the other provisions of Section 10.06 (provided that the Company shall be obligated to pay the registration and processing fee referred to therein), (E)
the Company shall pay all additional amounts (if any) required pursuant to Section 2.19 or 2.20, as the case may be, in respect of any period prior to the date on which such replacement shall be consummated, and (F) any such replacement shall not be
deemed to be a waiver of any rights that the Company, the Administrative Agent or any other Lender shall have against the replaced Lender; provided, further that, in connection with any such assignment of rights and obligations of any
Defaulting Lender hereunder, no such assignment shall be effective unless and until the parties to the assignment shall make such additional payments to the Administrative Agent in an aggregate amount sufficient, upon distribution thereof as
appropriate (which may be outright payment, purchases by the assignee of participations or subparticipations, or other compensating actions, including funding, with the consent of the Company and the Administrative Agent, the applicable pro rata
share of Loans previously requested but not funded by the Defaulting Lender, to each of which the applicable assignee and assignor hereby irrevocably consent), to (x) pay and satisfy in full all payment liabilities then owed by such Defaulting
Lender to the Administrative Agent, the Collateral Agent, each Issuing Lender and each other Lender hereunder (and interest accrued thereon), and (y) acquire (and fund as appropriate) its full pro rata share of all Loans and participations in
Letters of Credit in accordance with its Revolving Credit Percentage (and notwithstanding the foregoing, if any assignment of rights and obligations of any Defaulting Lender hereunder shall become effective under applicable law without compliance
with the provisions of this paragraph, then the assignee of such interest shall be deemed to be a Defaulting Lender for all purposes of this Agreement until such compliance occurs). 

(b)    The Company shall be permitted to replace any Lender (in the case of clause (ii) below, within 120 days of the
applicable failure to consent referenced therein) (i) that requests reimbursement owing pursuant to Section 2.19 or 2.20 or (ii) in connection with any proposed amendment, modification, supplement or waiver with respect to any of the provisions of
the Loan Documents as contemplated in Section 10.01 where such amendment, modification, supplement or waiver requires the consent of either (x) all or all affected Lenders, and the consent of the Required Lenders is obtained or (y) all affected
Lenders under any Facility, and the consent of the Majority Facility Lenders under the relevant Facility is obtained, and such Lender fails to consent to such proposed action; provided that (A) such replacement or removal does not conflict
with any Requirement of Law, (B) the Company shall be liable to such replaced Lender under Section 2.21 (as though Section 2.21 were applicable) if any Eurocurrency Loan owing to such replaced Lender shall be purchased other than on the last day of
the Interest Period or maturity date relating thereto, (C) the replacement financial institution shall purchase, at par, all Loans and other amounts owing to such replaced Lender on or prior to the date of replacement and shall have consented to the
proposed amendment, (D) the replaced Lender shall be obligated to make such replacement in accordance with the provisions of Section 10.06 (provided that the Company shall be obligated to pay the registration and processing fee referred to
therein), (E) the Company shall pay all additional amounts (if any) required pursuant to Section 2.19 or 2.20, as the case may be, in respect of any period prior to the date on which such replacement shall be consummated, and (F) any such
replacement shall not be deemed to be a waiver of any rights that the Company, the Administrative Agent or any other Lender shall have against the replaced Lender. 

  
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 Section 10.20.    Headings. Article and
Section headings and the Table of Contents used herein are for convenience of reference only, are not part of this Agreement and are not to affect the construction of, or to be taken into consideration in interpreting, this Agreement. 

Section 10.21.    Lender Action. Each Lender agrees that it shall not take or institute any actions or
proceedings, judicial or otherwise, for any right or remedy against any Loan Party or any other obligor under any of the Loan Documents (including the exercise of any right of setoff, rights on account of any banker’s lien or similar claim or
other rights of self-help), or institute any actions or proceedings, or otherwise commence any remedial procedures, with respect to any Collateral or any other property of any such Loan Party, unless expressly provided for herein or in any other
Loan Document, without the prior written consent of the Administrative Agent. The provisions of this Section 10.21 are for the sole benefit of the Lenders and shall not afford any right to, or constitute a defense available to, any Loan Party.

 Section 10.22.    Interest Rate Limitation. Notwithstanding anything herein to the contrary, if at any
time the interest rate applicable to any Loan or participation in any payment or disbursement made by an Issuing Lender pursuant to a Letter of Credit, together with all fees, charges and other amounts which are treated as interest on such Loan or
such participation under applicable law (collectively the “Charges”), shall exceed the maximum lawful rate (the “Maximum Rate”) which may be contracted for, charged, taken, received or reserved by the Lender holding
such Loan or participation in accordance with applicable law, the rate of interest payable in respect of such Loan or participation hereunder, together with all Charges payable in respect thereof, shall be limited to the Maximum Rate and, to the
extent lawful, the interest and Charges that would have been payable in respect of such Loan or participation but were not payable as a result of the operation of this Section 10.22 shall be cumulated and the interest and Charges payable to such
Lender in respect of other Loans or participations or periods shall be increased (but not above the Maximum Rate therefor) until such cumulated amount, together with interest thereon at the Federal Funds Effective Rate to the date of repayment,
shall have been received by such Lender. 
 Section 10.23.    Joint and Several Liability. The Company and
each Approved Borrower organized or incorporated under the laws of one of the States of the United States of America, the laws of the District of Columbia or the Federal laws of the United States of America shall be jointly and severally liable for
all obligations of the Company and each Approved Borrower under this Agreement; and each Approved Borrower organized under the laws of a jurisdiction other than the United States, any State thereof or the District of Columbia shall be jointly and
severally liable for all obligations of the Approved Borrowers organized under the laws of a jurisdiction other than the United States, any State thereof or the District of Columbia under this Agreement, which joint and several liability shall be
more specifically set forth in each Designation Letter. Solely for purposes of the preceding sentence, any Approved Borrower organized under the laws of Mexico or Canada that is treated as a US domestic corporation pursuant to
Section 1504(d) of the Code shall be treated as an Approved Borrower organized under the laws of the United States. 

  
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 Section 10.24.    Specified Cash Management Agreements / Specified Hedge
Agreements / Designated Bilateral Letters of Credit. No Cash Management Bank, Qualified Counterparty or Designated Bilateral Letter of Credit Issuer that obtains the benefits of any Guarantee Obligations from a Loan Party or any Collateral
by virtue of the provisions hereof or of any Security Document shall have any right to notice of any action or to consent to, direct or object to any action hereunder or under any other Loan Document or otherwise in respect of the Collateral
(including the release or impairment of any Collateral) other than in its capacity as a Lender and, in such case, only to the extent expressly provided in the Loan Documents. Notwithstanding any other provision of Section 10.16 to the contrary,
neither the Administrative Agent nor the Collateral Agent shall be required to verify the payment of, or that other satisfactory arrangements have been made with respect to, Obligations arising under Specified Cash Management Agreements, Specified
Hedge Agreements or Designated Bilateral Letters of Credit unless such Agent has received written notice of such Obligations, together with such supporting documentation as such Agent may request, from the applicable Cash Management Bank, Qualified
Counterparty or Designated Bilateral Letter of Credit Issuer, as the case may be. By its acceptance of the benefits of any guarantee of such Obligations pursuant to any Loan Document or any Collateral by virtue of the provisions hereof or of
any other Loan Document, each Cash Management Bank, each Qualified Counterparty and each Designated Bilateral Letter of Credit Issuer shall be deemed to agree to the foregoing. 

Section 10.25.    No Advisory or Fiduciary Responsibility. In connection with all aspects of each transaction
contemplated hereby (including in connection with any amendment, waiver or other modification hereof or of any other Loan Document), the Company acknowledges and agrees that: (i) (A) the arranging and other services regarding this Agreement
provided by the Lenders are arm’s-length commercial transactions between the Company and its Affiliates, on the one hand, and the Lenders, on the other hand, (B) the Company has consulted its own legal, accounting, regulatory and tax advisors
to the extent it has deemed appropriate, and (C) the Company is capable of evaluating, and understands and accepts, the terms, risks and conditions of the transactions contemplated hereby and by the other Loan Documents; (ii) (A) each of the Lenders
is and has been acting solely as a principal and, except as expressly agreed in writing by the relevant parties, has not been, is not, and will not be acting as an advisor, agent or fiduciary for the Company or any of its Affiliates, or any other
Person and (B) no Lender has any obligation to the Company or any of its Affiliates with respect to the transactions contemplated hereby except those obligations expressly set forth herein and in the other Loan Documents; and (iii) each of the
Lenders and their respective Affiliates may be engaged in a broad range of transactions that involve interests that differ from those of the Company and its Affiliates, and no Lender has any obligation to disclose any of such interests to the
Company or its Affiliates. To the fullest extent permitted by law, the Company hereby waives and releases any claims that it may have against each of the Lenders with respect to any breach or alleged breach of agency or fiduciary duty in
connection with any aspect of any transaction contemplated hereby. 
 Section
10.26.    Keepwell. Each Qualified ECP Borrower hereby jointly and severally absolutely, unconditionally and irrevocably undertakes to provide such funds or other support as may be needed from time to
time by each other Borrower to honor all of its obligations under this Agreement in respect of Swap Obligations (provided, however, that each Qualified ECP Borrower shall only be liable under this Section 10.26 for the maximum amount
of such liability that can be hereby incurred without rendering its obligations under this Section 10.26, or 

  
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otherwise under this Agreement, as it relates to such Borrower, voidable under applicable law relating to fraudulent conveyance or fraudulent transfer, and not for any greater amount). The
obligations of each Qualified ECP Borrower under this Section 10.26 shall remain in full force and effect until the termination and release of all Obligations in accordance with the terms of this Agreement. Each Qualified ECP Borrower intends
that this Section 10.26 constitute, and this Section 10.26 shall be deemed to constitute, a “keepwell, support, or other agreement” for the benefit of each other Borrower for all purposes of Section 1a(18)(A)(v)(II) of the Commodity
Exchange Act. 
 Section 10.27.    Acknowledgment and Consent to Bail-In of EEA Financial
Institutions. Notwithstanding anything to the contrary in any Loan Document or in any other agreement, arrangement or understanding among any such parties, each party hereto acknowledges that any liability of any EEA Financial
Institution arising under any Loan Document, to the extent such liability is unsecured, may be subject to Write-Down and Conversion Powers of an EEA Resolution Authority and agrees and consents to, and acknowledges and agrees to be bound by: 

(a)    the application of any Write-Down and Conversion Powers by an EEA Resolution Authority to any such liabilities
arising hereunder which may be payable to it by any Lender that is an EEA Financial Institution; and 
 (b)    the
effects of any Bail-in Action on any such liability, including, if applicable: 
 (i)    a reduction in
full or in part or cancellation of any such liability; 
 (ii)    a conversion of all, or a portion of,
such liability into shares or other instruments of ownership in such EEA Financial Institution, its parent undertaking, or a bridge institution that may be issued to it or otherwise conferred on it, and that such shares or other instruments of
ownership will be accepted by it in lieu of any rights with respect to any such liability under this Agreement or any other Loan Document; or 

(iii)    the variation of the terms of such liability in connection with the exercise of the Write-Down and
Conversion Powers of any EEA Resolution Authority. 
 [Remainder of the page intentionally left blank.] 

  
 173 

 ANNEX A 

Initial Revolving Credit Commitments 
  

					
	 Revolving Credit Lender
	  	
Initial Revolving Credit Commitments
	 
	 Goldman Sachs Bank USA
	  	$	47,000,000	  
	 Citibank, N.A.
	  	$	47,000,000	  
	 HSBC Bank USA, N.A.
	  	$	43,000,000	  
	 Bank of America, N.A.
	  	$	42,000,000	  
	 Royal Bank of Canada
	  	$	42,000,000	  
	 U.S. Bank, National Association
	  	$	42,000,000	  
	 KeyBank National Association
	  	$	37,000,000	  
	 PNC Bank National Association
	  	$	35,000,000	  
	 Fifth Third Bank
	  	$	25,000,000	  
	 ING Bank N.V., Dublin Branch
	  	$	20,000,000	  
	 KBC Bank N.V.
	  	$	20,000,000	  
		  	  
	  
	 
	 Total:
	  	$	400,000,000	  
		  	  
	  
	 

 Initial Term Loan Commitments 
  

					
	 Term Loan Lender
	  	
Initial Term Loan Commitment
	 
	 Goldman Sachs Bank USA
	  	$	550,000,000	  
		  	  
	  
	 
	 Total:
	  	$	550,000,000	  
		  	  
	  
	 

 Schedule 1.01 

Existing Designated Bilateral Letters of Credit 

On file with Administrative Agent. 

 Schedule 2.25 

Approved Borrowers 
 None.

 Schedule 4.04 

Consents, Authorizations, Filings and Notices 

None. 

 Schedule 4.06 

Material Litigation 
 None.

 Schedule 4.09 

Intellectual Property 

None. 

 Schedule 4.15(a) 

Subsidiaries 
  

					
	 Subsidiary
	 	 Country of Incorporation
	 	 Percentage Owned by a Loan Party

	 Harsco Metals Argentina S.A.
	 	 Argentina
	 	 N/A

	 Harsco (Australia) Pty. Limited
	 	 Australia
	 	 N/A

	 Harsco Industrial Air-X-Changers Pty. Ltd.
	 	 Australia
	 	 N/A

	 Harsco Metals Australia Holding Investment Co. Pty. Ltd.
	 	 Australia
	 	 N/A

	 Harsco Metals Australia Pty. Ltd.
	 	 Australia
	 	 N/A

	 Harsco Rail Pty. Ltd.
	 	 Australia
	 	 N/A

	 Harsco Minerals Austria GmbH
	 	 Austria
	 	 N/A

	 AluServ Middle East W.L.L.
	 	 Bahrain
	 	 N/A

	 Harsco Belgium S.P.R.L.
	 	 Belgium
	 	 N/A

	 Harsco Brazil Investments SPRL
	 	 Belgium
	 	 N/A

	 Harsco Chile Investments SPRL
	 	 Belgium
	 	 N/A

	 Harsco Metals Belgium S.A.
	 	 Belgium
	 	 N/A

	 Harsco Metals Emirates Maatschap
	 	 Belgium
	 	 N/A

	 Harsco Rail Emirates Maatschap/Societe de Droit Commun
	 	 Belgium
	 	 N/A

	 Harsco (Bermuda) Limited
	 	 Bermuda
	 	 N/A

	 Harsco do Brasil Participacoes e Servicos Siderurgicos Ltda.
	 	 Brazil
	 	 N/A

	 Harsco Metals Limitada
	 	 Brazil
	 	 N/A

	 Harsco Minerais Limitada
	 	 Brazil
	 	 N/A

	 Harsco Rail LTDA
	 	 Brazil
	 	 100%

	 Heckett Comercio de Rejeitos Industriais, Importacao e Exportacao Ltda
	 	 Brazil
	 	 N/A

	 Harsco Canada Corporation Societe Harsco Canada
	 	 Canada
	 	 N/A

	 Harsco Canada General Partner Limited
	 	 Canada
	 	 N/A

	 Harsco Canada Limited Partnership
	 	 Canada
	 	 N/A

	 Harsco Nova Scotia Holding Corporation
	 	 Canada
	 	 N/A

	 Harsco Metals Chile S.A.
	 	 Chile
	 	 N/A

	 Harsco (Tangshan) Metallurgical Materials Technology Co. Ltd.
	 	 China
	 	 N/A

					
	 Subsidiary
	 	 Country of Incorporation
	 	 Percentage Owned by a Loan Party

	 Harsco APAC Rail Machinery (Beijing) Co., Ltd.
	 	 China
	 	 N/A

	 Harsco Metals (Ningbo) Co. Ltd.
	 	 China
	 	 N/A

	 Harsco Metals Tangshan Co. Ltd.
	 	 China
	 	 N/A

	 Harsco Metals Zhejiang Co. Ltd.
	 	 China
	 	 N/A

	 Harsco Technology China Co., Ltd.
	 	 China
	 	 N/A

	 JiangSu Harsco Industrial Grating Company Limited
	 	 China
	 	 N/A

	 Shanxi TISCO-Harsco Technology Co., Ltd.
	 	 China
	 	 N/A

	 Czech Slag – Nová Hut s.r.o.
	 	 Czech Republic
	 	 N/A

	 Harsco Infrastructure CZ s.r.o
	 	 Czech Republic
	 	 N/A

	 Harsco Metals CZ s.r.o
	 	 Czech Republic
	 	 N/A

	 Harsco Metals Egypt L.L.C.
	 	 Egypt
	 	 N/A

	 Heckett Bahna Co. For Industrial Operations S.A.E.
	 	 Egypt
	 	 N/A

	 Heckett MultiServ Bahna S.A.E.
	 	 Egypt
	 	 N/A

	 MultiServ Oy
	 	 Finland
	 	 N/A

	 Harsco France S.A.S.
	 	 France
	 	 N/A

	 Harsco Metals And Minerals France S.A.S.
	 	 France
	 	 N/A

	 Harsco Minerals France S.A.S.
	 	 France
	 	 N/A

	 Harsco Metals Germany GmbH
	 	 Germany
	 	 100%

	 Harsco Minerals Deutschland GmbH
	 	 Germany
	 	 N/A

	 Harsco Rail Europe GmbH
	 	 Germany
	 	 N/A

	 Harsco (Gibraltar) Holding Limited
	 	 Gibraltar
	 	 N/A

	 Harsco Metals Guatemala S.A.
	 	 Guatemala
	 	 N/A

	 Harsco Metals Holland B.V.
	 	 Holland
	 	 N/A

	 Harsco Metals Transport B.V.
	 	 Holland
	 	 N/A

	 Harsco China Holding Company Limited
	 	 Hong Kong
	 	 N/A

	 Harsco Industrial Grating China Holding Company Limited
	 	 Hong Kong
	 	 N/A

	 Harsco Infrastructure Hong Kong Limited
	 	 Hong Kong
	 	 N/A

	 Harsco India Metals Private Limited
	 	 India
	 	 N/A

	 Harsco India Private Limited
	 	 India
	 	 N/A

					
	 Subsidiary
	 	 Country of Incorporation
	 	 Percentage Owned by a Loan Party

	 Harsco India Services Private Limited
	 	 India
	 	 N/A

	 Harsco Track Machines and Services Private Limited
	 	 India
	 	 N/A

	 Harsco Metals Italia S.R.L.
	 	 Italy
	 	 N/A

	 Harsco Metals Nord Italia S.R.L.
	 	 Italy
	 	 N/A

	 Ilserv S.R.L.
	 	 Italy
	 	 N/A

	 Ballagio S.a.r.l.
	 	 Luxembourg
	 	 N/A

	 Excell Africa Holdings LTD, SARL
	 	 Luxembourg
	 	 N/A

	 Excell Americas Holdings Ltd S.a.r.L.
	 	 Luxembourg
	 	 N/A

	 Harsco Americas Investments S.a.r.l.
	 	 Luxembourg
	 	 N/A

	 Harsco International Finance S.a.r.l.
	 	 Luxembourg
	 	 N/A

	 Harsco Luxembourg S.a.r.l
	 	 Luxembourg
	 	 N/A

	 Harsco Metals Luxembourg S.A.
	 	 Luxembourg
	 	 N/A

	 Harsco Metals Luxequip S.A.
	 	 Luxembourg
	 	 N/A

	 Harsco Metals Kemaman Sdn. Bhd.
	 	 Malaysia
	 	 N/A

	 Harsco Industrial IKG de Mexico, S.A. de C.V.
	 	 Mexico
	 	 N/A

	 Harsco Metals de Mexico S.A. de C.V.
	 	 Mexico
	 	 N/A

	 Irving, S.A. de C.V.
	 	 Mexico
	 	 N/A

	 GasServ (Netherlands) VII B.V.
	 	 Netherlands
	 	 N/A

	 Harsco (Mexico) Holdings B.V.
	 	 Netherlands
	 	 N/A

	 Harsco (Peru) Holdings B.V.
	 	 Netherlands
	 	 N/A

	 Harsco Asia China Investment B.V.
	 	 Netherlands
	 	 N/A

	 Harsco Asia Investment B.V.
	 	 Netherlands
	 	 N/A

	 Harsco Asia Pacific Investment B.V.
	 	 Netherlands
	 	 N/A

	 Harsco Europa B.V.
	 	 Netherlands
	 	 N/A

	 Harsco Finance B.V.
	 	 Netherlands
	 	 100%

	 Harsco Infrastructure B.V.
	 	 Netherlands
	 	 N/A

	 Harsco Infrastructure Construction Services B.V.
	 	 Netherlands
	 	 N/A

	 Harsco Infrastructure Industrial Services B.V.
	 	 Netherlands
	 	 N/A

	 Harsco Infrastructure Logistic Services B.V.
	 	 Netherlands
	 	 N/A

	 Harsco Infrastructure SSH B.V.
	 	 Netherlands
	 	 N/A

					
	 Subsidiary
	 	 Country of Incorporation
	 	 Percentage Owned by a Loan Party

	 Harsco Investments Europe B.V.
	 	 Netherlands
	 	 N/A

	 Harsco Metals Oostelijk Staal International B.V.
	 	 Netherlands
	 	 N/A

	 Harsco Minerals Europe B.V.
	 	 Netherlands
	 	 N/A

	 Harsco Nederland Slag B.V.
	 	 Netherlands
	 	 N/A

	 Heckett MultiServ China B.V.
	 	 Netherlands
	 	 N/A

	 Heckett MultiServ Far East B.V.
	 	 Netherlands
	 	 N/A

	 Hunnebeck Nederland B.V.
	 	 Netherlands
	 	 N/A

	 Minerval Metallurgical Additives B.V.
	 	 Netherlands
	 	 N/A

	 Multiserv Finance B.V.
	 	 Netherlands
	 	 N/A

	 MultiServ International B.V.
	 	 Netherlands
	 	 N/A

	 SGB Industrial Services B.V.
	 	 Netherlands
	 	 N/A

	 Slag Reductie (Pacific) B.V.
	 	 Netherlands
	 	 N/A

	 Slag Reductie Nederland B.V.
	 	 Netherlands
	 	 N/A

	 Harsco Metals SteelServ Limited
	 	 New Zealand
	 	 N/A

	 Harsco Infrastructure Norge A.S.
	 	 Norway
	 	 N/A

	 Harsco Metals Norway A.S.
	 	 Norway
	 	 N/A

	 Harsco Minerals Arabia LLC (FZC)
	 	 Oman
	 	 0.005%

	 Harsco Steel Mill Trading Arabia LLC
	 	 Oman
	 	 10%

	 Harsco Metals Peru S.A.
	 	 Peru
	 	 0.1%

	 Harsco Metals Polska SP Z.O.O.
	 	 Poland
	 	 N/A

	 Harsco Infrastructure Portugal Ltda.
	 	 Portugal
	 	 N/A

	 Harsco Metals CTS Prestacao de Servicos Tecnicos e Aluguer de Equipamentos LDA
Unipessoal
	 	 Portugal
	 	 N/A

	 Harsco Al Darwish United W.L.L.
	 	 Qatar
	 	 N/A

	 Harsco Metals Romania S.R.L.
	 	 Romania
	 	 N/A

	 Harsco Baroom Limited
	 	 Saudi Arabia
	 	 N/A

	 Heckett Multiserv Saudi Arabia Co., Ltd.
	 	 Saudi Arabia
	 	 N/A

	 Harsco (York Place) Limited
	 	 Scotland
	 	 N/A

	 Harsco Fairerways Limited Partnership
	 	 Scotland
	 	 99%

	 Harsco Fairestways Limited Partnership
	 	 Scotland
	 	 99%

	 Harsco Fairways Partnership
	 	 Scotland
	 	 N/A

	 Harsco Higherlands Limited Partnership
	 	 Scotland
	 	 N/A

	 Harsco Highestlands Limited Partnership
	 	 Scotland
	 	 N/A

					
	 Subsidiary
	 	 Country of Incorporation
	 	 Percentage Owned by a Loan Party

	 Harsco Metals D.O.O. Smederevo
	 	 Serbia
	 	 N/A

	 Harsco Infrastructure Slovensko s.r.o.
	 	 Slovak Republic
	 	 N/A

	 Harsco Metals Slovensko s.r.o.
	 	 Slovak Republic
	 	 N/A

	 Harsco Minerali d.o.o.
	 	 Slovenia
	 	 N/A

	 Harsco Infrastructure South Africa (Pty.) Ltd.
	 	 South Africa
	 	 N/A

	 Harsco Metals Ilanga Pty. Ltd.
	 	 South Africa
	 	 N/A

	 Harsco Metals Reclamation SPV Pty. Ltd.
	 	 South Africa
	 	 N/A

	 Harsco Metals RSA (Proprietary.) Limited
	 	 South Africa
	 	 N/A

	 Harsco Metals South Africa (Pty.) Ltd.
	 	 South Africa
	 	 N/A

	 Harsco Metals SRH Mill Services (Pty.) Ltd.
	 	 South Africa
	 	 N/A

	 Harsco Metals SteelServ (Pty.) Ltd.
	 	 South Africa
	 	 N/A

	 Heckett Multiserv (FS) (Pty.) Ltd.
	 	 South Africa
	 	 N/A

	 Harsco Metals Gesmafesa S.A.
	 	 Spain
	 	 N/A

	 Harsco Metals Intermetal S.A.
	 	 Spain
	 	 N/A

	 Harsco Metals Lycrete S.A.
	 	 Spain
	 	 N/A

	 Harsco Metals Reclamet S.A.
	 	 Spain
	 	 N/A

	 Harsco Infrastructure Sverige A.B.
	 	 Sweden
	 	 N/A

	 Harsco Metals Sweden A.B.
	 	 Sweden
	 	 N/A

	 Montanus Industriforvaltning A.B.
	 	 Sweden
	 	 N/A

	 Multiserv (Sweden) AB
	 	 Sweden
	 	 N/A

	 Multiserv Technologies (Sweden) AB
	 	 Sweden
	 	 100%

	 Harsco Rail Switzerland GmbH
	 	 Switzerland
	 	 N/A

	 Harsco Switzerland Finance GmbH
	 	 Switzerland
	 	 N/A

	 Harsco Switzerland Holdings GmbH
	 	 Switzerland
	 	 N/A

	 Harsco Metals (Thailand) Company Limited
	 	 Thailand
	 	 N/A

	 Harsco Sun Demiryolu Ekipmanlari Uretim Ve Ticaret Limited Sirketi
	 	 Turkey
	 	 51%

	 Hunnebeck Middle East FZE
	 	 U.A.E.
	 	 N/A

	 Hunnebeck Middle East FZE
	 	 U.A.E.
	 	 N/A

	 Faber Prest Limited
	 	 U.K.
	 	 N/A

	 Fourninezero Ltd.
	 	 U.K.
	 	 N/A

	 Harsco (U.K.) Limited
	 	 U.K.
	 	 N/A

					
	 Subsidiary
	 	 Country of Incorporation
	 	 Percentage Owned by a Loan Party

	 Harsco (UK) Group Ltd
	 	 U.K.
	 	 N/A

	 Harsco (UK) Holdings Ltd
	 	 U.K.
	 	 N/A

	 Harsco Global Sourcing Limited
	 	 U.K.
	 	 N/A

	 Harsco Infrastructure Group Ltd.
	 	 U.K.
	 	 N/A

	 Harsco Infrastructure Services Ltd.
	 	 U.K.
	 	 N/A

	 Harsco Investment Limited
	 	 U.K.
	 	 N/A

	 Harsco Leatherhead Limited
	 	 U.K.
	 	 N/A

	 Harsco Metals 373 Limited
	 	 U.K.
	 	 N/A

	 Harsco Metals 385 Limited
	 	 U.K.
	 	 N/A

	 Harsco Metals Group Limited
	 	 U.K.
	 	 N/A

	 Harsco Metals Holdings Limited
	 	 U.K.
	 	 N/A

	 Harsco Mole Valley Limited
	 	 U.K.
	 	 N/A

	 Harsco Rail Limited
	 	 U.K.
	 	 N/A

	 Harsco Surrey Limited
	 	 U.K.
	 	 N/A

	 Mastclimbers Limited
	 	 U.K.
	 	 N/A

	 MultiServ Investment Limited
	 	 U.K.
	 	 N/A

	 Multiserv Limited
	 	 U.K.
	 	 N/A

	 Multiserv Logistics Limited
	 	 U.K.
	 	 N/A

	 SGB Holdings Limited
	 	 U.K.
	 	 N/A

	 SGB Investments Ltd.
	 	 U.K.
	 	 N/A

	 Short Brothers (Plant) Ltd.
	 	 U.K.
	 	 N/A

	 Harsco Defense Holding LLC
	 	 U.S.A.
	 	 100%

	 Harsco Financial Holdings, Inc.
	 	 U.S.A.
	 	 100%

	 Harsco Holdings, Inc.
	 	 U.S.A.
	 	 100%

	 Harsco Infrastructure Holdings, Inc.
	 	 U.S.A.
	 	 N/A

	 Harsco Metals Holding LLC
	 	 U.S.A.
	 	 N/A

	 Harsco Metals Intermetal LLC
	 	 U.S.A.
	 	 N/A

	 Harsco Metals Investment LLC
	 	 U.S.A.
	 	 N/A

	 Harsco Metals Operations LLC
	 	 U.S.A.
	 	 N/A

	 Harsco Metals SRI LLC
	 	 U.S.A.
	 	 N/A

	 Harsco Metals VB LLC
	 	 U.S.A.
	 	 N/A

	 Harsco Metro Rail, LLC
	 	 U.S.A.
	 	 100%

	 Harsco Minerals Technologies LLC
	 	 U.S.A.
	 	 100%

	 Harsco Minnesota Finance, Inc.
	 	 U.S.A.
	 	 100%

					
	 Subsidiary
	 	 Country of Incorporation
	 	 Percentage Owned by a Loan Party

	 Harsco Minnesota LLC
	 	 U.S.A.
	 	100%
	 Harsco Technologies LLC
	 	 U.S.A.
	 	100%
	 Protran Technology Limited Liability Company
	 	 U.S.A.
	 	100%
	 Harsco Rail, LLC
	 	 U.S.A.
	 	100%
	 Heckett Multiserv MV & MS, CA
	 	 Venezuela
	 	 N/A

 Schedule 4.15(b) 

Rights in Capital Stock 

None. 

 Schedule 4.18(c) 

Real Property 
 357 &
359 North Pike Road, Sarver, PA 
 2401 Edmunds Road, West Columbia, SC 

1514 S. Sheldon Road, Channelview, TX 

350 Poplar Church Road, Camp Hill, PA 

 Schedule 6.12 

Mortgaged Properties 
  

	1.	357 & 359 North Pike Road, Sarver, PA 

  

	2.	2401 Edmunds Road, West Columbia, SC 

  

	3.	1514 S. Sheldon Road, Channelview, TX 

  

	4.	350 Poplar Church Road, Camp Hill, PA 

 Civil Aircraft Airframe and Engines Collateral

  

	1.	One Mystere-Falcon 50 aircraft bearing serial number 305 and related engines 

  

	2.	One Raytheon aircraft (model: Hawker 800XP) bearing serial number 258412 and related engines 

Notes Collateral 
  

	1.	Floating Rate Loan Note, note no. 615, dated as of December 27, 2012, issued by Harsco Fairerways Partnership to Harsco Minnesota LLC in a principal amount of $150,000. 

 

	2.	Floating Rate Loan Note, note no. 619, dated as of December 27, 2012, issued by Harsco Fairerways Partnership to Harsco Minnesota LLC in a principal amount of $150,000. 

 

	3.	Facility and Deposit Agreement, note no. 431, in an outstanding principal amount of $52,851,634.20 payable by Harsco Corporation to Harsco Technologies LLC. 

 

	4.	Promissory notes, dated December 16, 2014, in an outstanding principal amount of EUR 176,000,000 payable by Harsco Finance B.V. to Harsco Financial Holdings, Inc. 

 Schedule 7.02(d) 

Existing Indebtedness 
  

	1.	Indebtedness incurred by Harsco Corporation in favor of Wells Fargo with respect to CAT 740 DUMP TRUCK - Unit 505239, MATERIAL HANDLER - Unit 506041 and CRANE, HYDRAULIC - Unit 506127 . 

 

	2.	Indebtedness incurred by Harsco Corporation in favor of Caterpillar Financial with respect to 966H CAT FEL-Crusher - FE00692, CAT 930K FEL - Unit 191466 and CAT 988H FEL - Unit 504872. 

 

	3.	Indebtedness incurred by Harsco Corporation in favor of First National Capital with respect to SSAB Lease buyback - Unit 506128 and Arkansas Steel – sale-leaseback of mobile equipment. 

 

	4.	Indebtedness incurred by Harsco Corporation in favor of Toshiba with respect to copier leases. 

  

	5.	Indebtedness incurred by MultiServ Group Ltd in favor of Caterpillar Financial Services (UK) Limited with respect to capital leases. 

 

	6.	Indebtedness incurred by Harsco Metals Sweden AB in favor of Handelsbanken Sweden with respect to machinery and equipment leases. 

  

	7.	Indebtedness incurred by Heckett MultiServ Saudi Arabia Co Ltd in favor of Aljazirah Co with respect to Vehicle Leasing Agreement - 6091. 

 

	8.	Indebtedness incurred by MultiServ Lycrete SA in favor of BBVA with respect to 0182-5497-0501-1576335 (guaranteed by Harsco Corporation) and 0182-5497-0501-1568047. 

 

	9.	Indebtedness incurred by MultiServ Lycrete SA in favor of CAT Financial with respect to contract 580-0010309. 

  

	10.	Indebtedness incurred by Harsco Metals Luxembourg SA in favor of SPRL Caterpillar Financial Services Belgium with respect to lease L-0601958. 

 

	11.	Indebtedness incurred by Harsco Belgium SPRL in favor of SPRL Caterpillar Financial Services Belgium with respect to lease L-0602112. 

 

	12.	Indebtedness incurred by Harsco Belgium SPRL in favor of Multiplier with respect to lease 912400004821. 

  

	13.	Indebtedness incurred by Harsco Metals Nord Italia SRL in favor of Caterpillar Finance with respect to FEL and excavator. 

	14.	Indebtedness incurred by Ilserv SRL in favor of Caterpillar Finance with respect to FEL and excavator. 

  

	15.	Indebtedness incurred by Harsco Metals Italia SRL in favor of Mediocredito with respect to lease. 

  

	16.	Indebtedness incurred by Harsco Metals and Minerals France SAS in favor of Volvo Finance with respect to capital lease. 

  

	17.	Indebtedness incurred by Harsco Metals and Minerals France SAS in favor of CAT Finance with respect to capital leases. 

  

	18.	Indebtedness incurred by Harsco Metals and Minerals France SAS in favor of Komatsu Finance with respect to capital lease. 

  

	19.	Indebtedness incurred by Harsco Metals and Minerals France SAS in favor of Sogelease with respect to capital leases. 

  

	20.	Indebtedness incurred by Harsco Canada Corporation in favor of Caterpillar Financial with respect to CAT 992D FEL - Unit 505499, CAT 770 Articulated Dump Truck - Unit 504873-IC, CAT 980 FEL - C07-60, CAT 966 FEL -
C07-61, CAT 966 FEL - C07-62 and CAT 980 FEL - C07-63, all of which are guaranteed by Harsco Corporation. 

  

	21.	Indebtedness incurred by Harsco Metals Ltda in favor of CIT – Banco Commercial Investment Trust do Brasil S/A – Banco Múltiplo with respect to computer leases. 

 

	22.	Indebtedness incurred by Harsco Metals Ltda in favor of Banco Santander with respect to BDNES FINAME, contract number 6004122901. 

  

	23.	Indebtedness incurred by Harsco Metals Ltda in favor of Banco Itau with respect to BNDES FINAME, contract numbers 50003652000, 106550003651701, 106550003226901 and 106550003574501. 

 

	24.	Indebtedness incurred by Harsco Metals Ltda in favor of Banco Caterpillar with respect to BNDES FINAME, contract number FPS34811. 

  

	25.	Indebtedness incurred by Harsco Minerals Ltda in favor of CIT – Banco Commercial Investment Trust do Brasil S/A – Banco Múltiplo with respect to computer leases. 

 

	26.	Indebtedness incurred by Shangxi Tisco Harsco Technology Co Ltd in favor of HSBC Bank (China) Company Ltd with respect to loan agreement, 60% of which is guaranteed by Harsco Corporation. 

 

	27.	Indebtedness incurred by Shangxi Tisco Harsco Technology Co Ltd in favor of Taiyuan Iron & Steel (Group) Co., Ltd. with respect to Facility and Deposit Agreement. 

	28.	Indebtedness incurred by Harsco India Private Ltd in favor of HSBC Bank with respect to external commercial borrowings and rupee term loan, all of which are guaranteed by Harsco Corporation. 

 

	29.	Indebtedness incurred by Jiangsu Harsco Industrial Grating Company Ltd. in favor of HSBC Bank (China) Co. Ltd, Wuxi branch with respect to bank facility and draft limited guaranty, and guaranteed by Harsco Corporation.

  

	30.	Indebtedness incurred by Steelserv Ltd in favor of New Zealand Steel Limited with respect to loans. 

 Schedule 7.03(f) 

Existing Liens 
  

	1.	Liens incurred by Harsco Corporation in favor of Gelco Corporation d/b/a GE Fleet Services, and reflected on a UCC-1 filing in the office of the Delaware Secretary of State, filing numbers: 20063219755; 20063224896;
20063996378; 20131853804. 

  

	2.	Lien incurred by Harsco Corporation in favor of Cleveland Brothers Equipment Co., Inc., and reflected on a UCC-1 filing in the office of the Delaware Secretary of State, filing number: 2009 0630779. 

 

	3.	Lien incurred by Harsco Corporation in favor of NMHG Financial Services, Inc., and reflected on a UCC-1 filing in the office of the Delaware Secretary of State, filing number: 2010 0992846. 

 

	4.	Lien incurred by Harsco Corporation in favor of Caterpillar Financial Services Corp., and reflected on a UCC-1 filing in the office of the Delaware Secretary of State, filing numbers: 2010 1757529; 2011 2322835; 2012
2081380; 2012 2979609. 

  

	5.	Liens incurred by Harsco Corporation in favor of Toyota Motor Credit Corporation, and reflected on a UCC-1 filing in the office of the Delaware Secretary of State, filing numbers:; 2011 4121631; 2011 4294461; 2011
4391697; 2012 4212298. 

  

	6.	Liens incurred by Harsco Corporation in favor of CHG-Meridian U.S. Finance, Ltd., and reflected on a UCC-1 filing in the office of the Delaware Secretary of State, filing numbers: 2013 2525328; 2013 2525393; 2013
2525435; 2013 2527217; 2013 2527241; 2013 2527282; 2013 2529106; 2013 2529163; 2013 2534593; 2013 2535046; 2013 2535053; 2013 2535582; 2013 4145596; 2013 4145638; 2013 4145646; 2013 4145653; 2013 4145679; 2013 4901766. 

 

	7.	Liens incurred by Harsco Corporation in favor of General Electric Capital Corporation, and reflected on a UCC-1 filing in the office of the Delaware Secretary of State, filing numbers: 2013 2491786; 2013 1555631; 2013
3271203. 

  

	8.	Lien incurred by Harsco Corporation in favor of BankFinancial FSB, and reflected on a UCC-1 filing in the office of the Delaware Secretary of State, filing number: 2013 3060432. 

 

	9.	Lien incurred by Harsco Corporation in favor of Cole Taylor Equipment Finance, LLC, and reflected on a UCC-1 filing in the office of the Delaware Secretary of State, filing number: 2013 3663193. 

 

	10.	Lien incurred by Harsco Corporation in favor of RBS Asset Finance, Inc., and reflected on a UCC-1 filing in the office of the Delaware Secretary of State, filing number: 2013 4653847. 

	11.	Liens incurred by Harsco Corporation in favor of First National Capital, LLC, and reflected on a UCC-1 filing in the office of the Delaware Secretary of State, filing numbers: 2013 4880051; 2013 5079927.

  

	12.	Lien incurred by Harsco Corporation in favor of MB Financial Bank, N.A., and reflected on a UCC-1 filing in the office of the Delaware Secretary of State, filing number: 2014 4833695. 

 

	13.	Lien incurred by Harsco Corporation in favor of Motion Industries, Inc., and reflected on a UCC-1 filing in the office of the Delaware Secretary of State, filing number: 2015 0414069. 

 

	14.	Lien incurred by Harsco Corporation in favor of Caterpillar Financial Services Corporation and reflected on a UCC-1 filing in the office of the Pennsylvania Secretary of the Commonwealth, filing number: 2007111504274.

  

	15.	Lien incurred by Harsco Corporation in favor of Reco Equipment, Inc., and reflected on a UCC-1 filing in the office of the Pennsylvania Secretary of the Commonwealth, filing numbers: 2011120804737;
2012091105111.

  

	16.	Lien incurred by Harsco Corporation in favor of Bank Capital Services LLC, and reflected on a UCC-1 filing in the office of the Pennsylvania Secretary of the Commonwealth, filing number: 2014073008092.

  

	17.	Liens incurred by MultiServ Group Ltd in favor of Caterpillar Financial Services Ltd related to indebtedness with respect to capital leases as listed on Schedule 7.02(d), item 5. 

 

	18.	Liens incurred by Harsco Metals Sweden AB in favor of Handelsbanken Sweden related to indebtedness with respect to machinery and equipment leases as listed on Schedule 7.02(d), item 6. 

 

	19.	Liens incurred by Heckett MultiServ Saudi Arabia Co Ltd in favor of Aljazirah Co related to indebtedness with respect to Vehicle Leasing Agreement -6091 as listed on Schedule 7.02(d), item 7. 

 

	20.	Liens incurred by MultiServ Lycrete SA in favor of BBVA related to indebtedness with respect to capital leases as listed on Schedule 7.02(d), item 8. 

 

	21.	Liens incurred by MultiServ Lycrete SA in favor of CAT Financial related to indebtedness with respect to contract #580-0010309 as listed on Schedule 7.02(d), item 9. 

 

	22.	Liens incurred by Harsco Metals Luxembourg SA in favor of SPRL Caterpillar Financial Services Belgium related to indebtedness with respect to lease L-0601958 as listed on Schedule 7.02(d), item 10. 

	23.	Liens incurred by Harsco Belgium SPRL in favor of SPRL Caterpillar Financial Services Belgium related to indebtedness with respect to lease L-0602112 as listed on Schedule 7.02(d), item 11. 

 

	24.	Liens incurred by Harsco Belgium SPRL in favor of Multiplier related to indebtedness with respect to lease 912400004821 as listed on Schedule 7.02(d), item 12. 

 

	25.	Liens incurred by Harsco Metals Nord Italia SRL in favor of Caterpillar Finance related to indebtedness with respect to leases for FEL and excavator as listed on Schedule 7.02(d), item 13. 

 

	26.	Liens incurred by Ilserv SRL in favor of Caterpillar Finance related to indebtedness with respect to leases for FEL and excavator as listed on Schedule 7.02(d), item 14. 

 

	27.	Liens incurred by Harsco Metals Italia SRL in favor of Mediocredito related to indebtedness with respect to lease as listed on Schedule 7.02(d), item 15. 

 

	28.	Liens incurred by Harsco Metals and Minerals France SAS in favor of Volvo Finance related to indebtedness with respect to capital lease as listed on Schedule 7.02(d), item 16. 

 

	29.	Liens incurred by Harsco Metals and Minerals France SAS in favor of CAT Finance related to indebtedness with respect to capital leases as listed on Schedule 7.02(d), item 17. 

 

	30.	Liens incurred by Harsco Metals and Minerals France SAS in favor of Komatsu related to indebtedness with respect to capital lease as listed on Schedule 7.02(d), item 18. 

 

	31.	Liens incurred by Harsco Metals and Minerals France SAS in favor of Sogelease related to indebtedness with respect to capital leases as listed on Schedule 7.02(d), item 19. 

 

	32.	Liens incurred by Harsco Canada Corporation in favor of Caterpillar Finance related to indebtedness with respect to capital leases as listed on Schedule 7.02(d), item 20. 

 

	33.	Liens incurred by Harsco Metals Ltda in favor of CIT – Banco Commercial Investment Trust do Brasil S/A – Banco Multiplo related to indebtedness with respect to computer leases as listed on Schedule 7.02(d),
item 21. 

  

	34.	Liens incurred by Harsco Metals Ltda in favor of Banco Santander related to indebtedness with respect to BDNES FINAME contract as listed on Schedule 7.02(d), item 22. 

 

	35.	Liens incurred by Harsco Metals Ltda in favor of Banco Itau related to indebtedness with respect to BDNES FINAME contracts as listed on Schedule 7.02(d), item 23. 

 

	36.	Liens incurred by Harsco Metals Ltda in favor of Banco Caterpillar related to indebtedness with respect to BDNES FINAME contract as listed on Schedule 7.02(d), item 24. 

	37.	Liens incurred by Harsco Minerals Ltda in favor of CIT – Banco Commercial Investment Trust do Brasil S/A – Banco Multiplo related to indebtedness with respect to computer leases as listed on Schedule 7.02(d),
item 25. 

  

	38.	Liens incurred by Shangxi Tisco Harsco Technology Co Ltd in favor of HSBC Bank (China) Company Ltd related to indebtedness with respect to loan agreement as listed on Schedule 7.02(d), item 26. 

 

	39.	Liens incurred by Jiangsu Harsco Industrial Grating Company Ltd in favor of HSBC Bank (China) Company Ltd – Wuxi Branch related to indebtedness with respect to bank facility and draft limit guarantee as listed on
Schedule 7.02(d), item 29. 

  

	40.	Liens incurred by Harsco India Private Ltd in favor of HSBC Bank related to indebtedness with respect to external commercial borrowings rupee term loans as listed on Schedule 7.02(d), item 28. 

 Schedule 7.07 

Existing Investments 
  

	1.	Investments in shares of Sun Life Financial Inc. (NYSE: SLF). 

  

	2.	Investments in shares of Principal Financial Group Inc. (NYSE: PFG). 

  

	3.	Investments in shares of P.T. Purna Baja Harsco. 

 Schedule 7.12 

Existing Limitations on Negative Pledge Clauses 

None. 

 Schedule 7.13 

Existing Limitations on Restrictions on Subsidiary Distributions 

None. 

 EXHIBIT B-1 

SCHEDULE 1 TO THE GUARANTEE AND COLLATERAL AGREEMENT 

To be attached. 

 EXHIBIT B-2 

SCHEDULE 4 TO THE GUARANTEE AND COLLATERAL AGREEMENT 

To be attached. 

 ANNEX A 

Initial Revolving Credit Commitments 
  

					
	 Revolving Credit Lender
	  	Initial Revolving Credit Commitments	 
	 Goldman Sachs Bank USA
	  	$	47,000,000	  
	 Citibank, N.A.
	  	$	47,000,000	  
	 HSBC Bank USA, N.A.
	  	$	43,000,000	  
	 Bank of America, N.A.
	  	$	42,000,000	  
	 Royal Bank of Canada
	  	$	42,000,000	  
	 U.S. Bank, National Association
	  	$	42,000,000	  
	 KeyBank National Association
	  	$	37,000,000	  
	 PNC Bank National Association
	  	$	35,000,000	  
	 Fifth Third Bank
	  	$	25,000,000	  
	 ING Bank N.V., Dublin Branch
	  	$	20,000,000	  
	 KBC Bank N.V.
	  	$	20,000,000	  
		  	  
	  
	 
	 Total:
	  	$	400,000,000	  
		  	  
	  
	 

 Initial Term Loan Commitments 
  

					
	 Term Loan Lender
	  	Initial Term Loan Commitment	 
	 Goldman Sachs Bank USA
	  	$	550,000,000	  
		  	  
	  
	 
	 Total:
	  	$	550,000,000Exhibit

THIRD AMENDMENT AND RESTATEMENT AGREEMENT
dated 2 September 2016
to the
USD 900,000,000
MULTICURRENCY REVOLVING CREDIT FACILITY AGREEMENT
originally dated 23 October 2014 
and 
amended by an amendment letter dated 18 December 2014 and an amendment letter dated 13 January 2015, and as further amended and restated by a first amendment and restatement agreement dated 12 June 2015 and a second amendment and restatement agreement dated 19 February 2016
for
PRA Group Europe Holding S.à r.l.
arranged by
DNB Bank ASA, Nordea Bank Norge ASA and Swedbank AB (publ)
with
DNB Bank ASA
acting as Facility Agent, Security Agent and Bookrunner

www.bahr.no

	
			
	CONTENTS

	Clause
	 
	Page

	1.
	DEFINITIONS....................................................................................................................................................
	4

	2.
	CONDITIONS PRECEDENT.............................................................................................................................
	5

	3.
	REPRESENTATIONS.........................................................................................................................................
	5

	4.
	AMENDMENT AND RESTATEMENT.............................................................................................................
	5

	5.
	MISCELLANEOUS............................................................................................................................................
	7

	6.
	GOVERNING LAW............................................................................................................................................
	7

SCHEDULE 1 CONDITIONS PRECEDENT 
SCHEDULE 2 GUARANTORS
SCHEDULE 3 SECURITY PROVIDERS
SCHEDULE 4 AMENDED FACILITY AGREEMENT

THIS Third AMENDMENT and restatement AGREEMENT is dated 2 September 2016 and made between: 
		
	(1)
	PRA Group Europe Holding S.à r.l. (formerly SHCO 54 S.à r.l.), a private limited liability company (société à responsabilité limitée) incorporated under the laws of Luxembourg, having a share capital of EUR 12,500 and its registered office at 42-44, Avenue de la Gare, L-1610 Luxembourg, Grand Duchy of Luxembourg, registered with the Luxemburg Trade and Companies Register under  number B183422 and acting through its Swiss branch office PRA Group Europe Holding S.à r.l., Luxembourg, Zug Branch (formerly SHCO 54 S.à r.l., Luxemburg, Zug Branch) (the “Swiss Branch”) at Bundesstrasse 5, 6300 Zug, Switzerland (registration number CHE-305.746.539) (each a “Borrower”, together the “Borrowers”);

		
	(2)
	THE GUARANTORS listed in Schedule 2 hereto (the “Guarantors”);

		
	(3)
	DNB Bank ASA, of Dronning Eufemias gate 30, 0191 Oslo, Norway (registration number 984 851 006) as mandated lead arranger, Nordea Bank Norge ASA of Essendrops gate 7, 0368 Oslo, Norway (registration number 911 044 110) and Swedbank AB (publ) (registration number 502017-7753) (the “Mandated Lead Arrangers”); 

		
	(4)
	DNB Bank ASA, of Dronning Eufemias gare 30, 0191 Oslo, Norway (registration number 984 851 006) as bookrunner (the “Bookrunner”);

		
	(5)
	DNB Bank ASA, Nordea Bank Norge ASA and Swedbank AB (publ) as lenders (the “Lenders”); and

		
	(6)
	DNB Bank ASA, of Dronning Eufemias gate 30, 0191 Oslo, Norway (registration number 984 851 006) as agent on behalf of itself and the Finance Parties (as defined in the Facility Agreement) (the “Facility Agent” and the “Security Agent”),

		
	
	collectively referred to as the “Parties”.

WHEREAS:
		
	(A)
	Pursuant to the Original Facility Agreement, the Lenders have granted to the Borrower a loan in the amount of up to USD 900,000,000 for the purpose described therein. 

		
	(B)
	The Parties have entered into this Agreement as a consequence of the Borrower having requested the Lenders to make certain amendments to the Original Facility Agreement, inter alia to (i) amend certain financial covenants and (ii) increase the Total Commitments by adding a EUR 267,000,000 Facility B term loan. 

		
	(C)
	Subject to this agreement, the Lenders have agreed to make the contemplated amendments.

		
	(D)
	The New Obligors (as defined below) will accede to the Amended Facility Agreement as Guarantors.

NOW THEREFORE, it is hereby agreed as follows:

		
	1.
	DEFINITIONS 

		
	
	In this Agreement, including the preamble hereto (unless the context otherwise requires), all capital terms or expressions shall have the meaning ascribed to such term in the Amended Facility Agreement unless otherwise explicitly defined herein. 

		
	
	“Agreement” means this third amendment and restatement agreement.

		
	
	“Amended Facility Agreement” means the Original Facility Agreement, as amended and restated by this Agreement in the form set out in Schedule 4 (Form of Amended Facility Agreement).

		
	
	“Effective Date” means the date the Agent has confirmed in writing to the Lenders and the Borrower that the conditions pursuant to Clause 4.1 (Amendment and Restatement) have been satisfied, such date to be no later than 28 September 2016.

		
	
	“Finnish Law Security Document” means the first ranking security share pledge over the shares in PRA Suomi Oy dated 26 November 2014 between PRA Group Europe Holding S.à r.l. and the Security Agent.

		
	
	“Finnish Share Pledge” means the first ranking security share pledge over the shares in Aktiv Kapital Portfolio Oy dated 23 October 2014 between PRA Group Europe Portfolio AS (formerly Aktiv Kapital Portfolio AS) and the Security Agent.

		
	
	“New Obligors” means 

		
	(a)
	PF1 UK Limited, a private limited liability company incorporated under the laws of England with registration number 10153414; 

		
	(b)
	Debt Trading Partners BIS sp. z o.o., a private limited liability company incorporated under the laws of Poland with its registered office in Warsaw and registration number (KRS) 0000517951 (“DTP BIS”); 

		
	(c)
	Debt Trading Partners sp. z o.o. S.K.A., a limited joint stock partnership incorporated under the laws of Poland with its registered office in Warsaw and registration number (KRS) 0000482450 (“DTP SKA”); and 

		
	(d)
	Debt Trading Partners sp. z o.o. a private limited liability company incorporated under the laws of Poland with its registered office in Warsaw and registration number (KRS) 0000275441 (“DTP”), 

each a “New Obligor”.
		
	
	“Original Facility Agreement” means the USD 900,000,000 revolving credit facility agreement originally dated 23 October 2014 and made between the parties hereto as amended by an amendment letter dated 18 December 2014 and an amendment letter dated 13 January 2015, and as amended and restated by a first amendment and restatement agreement dated 12 June 2015 and further amended and restated by a second amendment agreement dated 19 February 2016.

		
	
	“Security Providers” means the companies listed in Schedule 3 (Security Providers) attached hereto and any other security provider in connection with this Agreement not being a Guarantor.

		
	
	“Swedish Share Pledge” means the first ranking security share pledge over the shares in AK Nordic AB dated 23 October 2014 between PRA Group Europe Portfolio AS (formerly Aktiv Kapital Portfolio AS) and the Security Agent.

		
	2.
	CONDITIONS PRECEDENT

The provisions of Clause 4 (Amendment and Restatement) shall be effective only if, not later than 10:00 hours (Oslo time) one (1) Business Day before the Effective Date, the Agent has received all the documents and other evidence listed in Schedule 1 (Conditions Precedent), each in a form and substance satisfactory to the Agent. The Agent shall notify the Borrowers promptly upon being so satisfied.
		
	3.
	REPRESENTATIONS

Each Obligor and each New Obligor makes the representations and warranties set out in Clause 13 (Representations and warranties) of the Amended Facility Agreement with respect to itself and each Security Provider (in respect of the Security Providers so that the representations and warranties in Clause 13.1 (Representations and warranties) of the Amended Facility Agreement shall be given also in respect of the Security Providers) to each Finance Party by reference to the facts and circumstances then existing:
		
	(a)
	on the date of this Agreement; and

		
	(b)
	on the Effective Date.

		
	4.
	AMENDMENT AND RESTATEMENT

		
	4.1
	Amendment and restatement

With effect from the Effective Date, the Original Facility Agreement will be amended and restated in the form set out in Schedule 4 (Form of Amended Facility Agreement). 
		
	4.2
	Continuing obligations

The provisions of the Amended Facility Agreement and the other Finance Documents and Security Documents shall, save as amended and restated by this Agreement, continue in full force and effect. Reference to the Facility Agreement in the Finance Documents and the Security Documents shall be construed as reference to the Amended Facility Agreement.
		
	4.3
	Confirmation of guarantee and security

The Borrowers, in their capacity as security providers, the Security Providers, in their capacity as security providers, and the Guarantors, in their capacity as Guarantors under the Original Facility Agreement, confirm their agreement and acceptance to the terms and conditions in this Agreement and in the Amended Facility Agreement, and confirm that their obligations and liabilities in the Security Documents and other Finance Documents to which they are party shall continue in full force and effect for the Amended Facility Agreement, and that any security under the Security Documents and any guarantee created or given under any Finance Document (without any amendments necessary to be made to these documents) will extend to the liabilities and obligations of the Obligors to the Finance Parties under the Finance Documents, as amended by this Agreement.

		
	4.4
	Confirmation of Finnish law security by the Borrower

PRA Group Europe Holding S.à r.l. hereby confirms to the Security Agent and the Facility Agent that:
		
	(a)
	it was in its contemplation at the time the Finnish Law Security Document was entered into that the security created under the Finnish Law Security Document would extend to the Amended Facility Agreement; 

		
	(b)
	the security created under the Finnish Law Security Document shall continue to secure all Secured Obligations; and  

		
	(c)
	the provisions of the Finnish Law Security Document, including without limitation the definition of Secured Obligations, shall, without restriction, remain in full force and effect.

		
	4.5
	Amendments to the Norwegian law Share Pledges and Assignments of Intra-Group Loans

With effect from the Effective Date, all Share Pledges and Assignments of Intra-Group Loans governed by Norwegian law shall be amended so that the maximum amount secured thereunder is limited to USD 1,500,000,000 with the addition of interest and costs.
		
	4.6
	Amendments to the Finnish Share Pledge

With effect from the Effective Date, Clause 3.3(iii) of the Finnish Share Pledge shall be amended so that the maximum amount secured under the Finnish Share Pledge is limited to USD 1,500,000,000 with the addition of interest and costs.
		
	4.7
	Amendments to the Swedish Share Pledge

		
	(a)
	With effect from the Effective Date, the Swedish Share Pledge governed by Swedish law shall be amended so that the maximum amount secured thereunder is limited to USD 1,500,000,000 with the addition of interest and costs. 

		
	(b)
	Clause 18 of the Swedish Share Pledge shall apply to this Clause 4.7 as if set out herein.

		
	4.8
	Polish law submissions to enforcement

With effect from the Effective Date, each of the Lenders permanently and irrevocably waives any of its rights under the following declarations:
		
	(a)
	the Polish law governed statements on voluntary submission to enforcement contained in the notarial deed executed on 3 March 2016 before Mr. Michal Maksymiuk, notary public in Warsaw (Rep. A 2271/2016);

		
	(b)
	the Polish law governed statements on voluntary submission to enforcement contained in the notarial deed executed on 3 March 2016 before Mr. Micha3 Maksymiuk, notary public in Warsaw (Rep. A 2266/2016).

		
	4.9
	Accession of the New Obligors

Each New Obligor hereby agrees, without any further action being required, to become an additional Guarantor on the Effective Date and to be bound by the terms of the Amended Facility Agreement as a Guarantor and Obligor pursuant to Clause 12.3 (Additional Guarantor) of the Amended Facility Agreement. For the sake of clarity, this 

Agreement shall constitute an “Accession Letter” in respect of each New Obligor for the purposes of Clause 12.3 (Additional Guarantor) of the Amended Facility Agreement.
		
	5.
	MISCELLANEOUS

		
	5.1
	Incorporation of terms

The provisions of Clauses 1.1, 1.2 and 1.3 of the Amended Facility Agreement shall be incorporated into this Agreement as if set out in full in this Agreement and as if references in those clauses to “this Agreement” are references to this Agreement.
		
	5.2
	Additional Finance Document

This Agreement shall constitute a “Finance Document” for the purposes of the Amended Facility Agreement. 
		
	5.3
	Fee

The Borrower shall pay to the Agent (for distribution to the Lenders) a fee as set out in a separate Fee Letter, payable on the date of this Agreement. 
		
	6.
	GOVERNING LAW

		
	(a)
	This Agreement shall be governed by Norwegian law.

		
	(b)
	Clauses 26.2 (Jurisdiction) and 26.3 (Service of process) of the Original Facility Agreement shall be incorporated into this Agreement as if set out in full herein.

*    *    *

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

SIGNATORIES:
	
			
	The Borrowers:
	 
	 

	 
	 
	 

	PRA Group Europe Holding S.à r.l. (formerly SHCO 54 S.à r.l)
	 
	PRA Group Europe Holding S.à r.l., Luxembourg, Zug Branch (formerly SHCO 54 S.à r.l., Luxemburg, Zug Branch)

	 
	 
	 

	By: /s/ Christopher Hagberg      
	 
	By: /s/ Christopher Hagberg      

	Name: Christopher Hagberg
	 
	Name: Christopher Hagberg

	Title: Attorney in fact
	 
	Title: Attorney in fact

	

For the purposes of Article 1 of the Protocol annexed to the Convention on Jurisdiction and the Enforcement of Proceedings in Civil and Commercial Matters done at Lugano on 16th September 1988 the undersigned hereby expressly and specifically accepts the jurisdiction of the Norwegian Courts.

By: /s/ Christopher Hagberg              
	 
	 

	Name: Christopher Hagberg
	 
	 

	Title: Attorney in fact
	 
	 

	 
	 
	 

	The Guarantors: 
	 
	 

	 
	 
	 

	PRA Group Europe AS (formerly Aktiv Kapital AS) 
	 
	PRA Group Norge AS 

	 
	 
	 

	By: /s/ Christopher Hagberg      
	 
	By: /s/ Christopher Hagberg      

	Name: Christopher Hagberg
	 
	Name: Christopher Hagberg

	Title: Attorney in fact
	 
	Title: Attorney in fact

	 
	 
	 

	 
	 
	 

	PRA Group Deutschland GmbH
	 
	PRA Group (UK) Limited

	 
	 
	 

	By: /s/ Leif Henning Dokset
	 
	By: /s/ Christopher Hagberg      

	Name: Leif Henning Dokset
	 
	Name: Christopher Hagberg

	Title: Managing Director
	 
	Title: Attorney in fact

	
			
	PRA Suomi Oy 
	 
	PRA Group Österreich Inkasso GmbH  

	 
	 
	 

	By: /s/ Christopher Hagberg      
	 
	By: /s/ Christopher Hagberg      

	Name: Christopher Hagberg
	 
	Name: Christopher Hagberg

	Title: Attorney in fact
	 
	Title: Attorney in fact

	 
	 
	 

	PRA Group Switzerland Portfolio AG 
	 
	Aktiv Kapital Portfolio Oy

	 
	 
	 

	By: /s/ Christopher Hagberg      
	 
	By: /s/ Christopher Hagberg      

	Name: Christopher Hagberg
	 
	Name: Christopher Hagberg

	Title: Attorney in fact
	 
	Title: Attorney in fact

	 
	 
	 

	PRA Group Europe Financial Services AS (formerly Aktiv Kapital Financial Services AS)
	 
	PRA Group Sverige AB 

	 
	 
	 

	By: /s/ Christopher Hagberg      
	 
	By: /s/ Christopher Hagberg      

	Name: Christopher Hagberg
	 
	Name: Christopher Hagberg

	Title: Attorney in fact
	 
	Title: Attorney in fact

	 
	 
	 

	PRA Group Europe Portfolio AS (formerly Aktiv Kapital Portfolio AS) 
	 
	PRA Group Europe Portfolio AS, Oslo, Zweigniederlassung Zug (formerly AKTIV KAPITAL PORTFOLIO AS, Oslo, Zweigniederlassung Zug)

	 
	 
	 

	By: /s/ Christopher Hagberg      
	 
	By: /s/ Christopher Hagberg      

	Name: Christopher Hagberg
	 
	Name: Christopher Hagberg

	Title: Attorney in fact
	 
	Title: Attorney in fact

	 
	 
	 

	PRA Iberia, S.L.U.
	 
	PRA Group Österreich Portfolio GmbH

	 
	 
	 

	By: /s/ Leif Henning Dokset
	 
	By: /s/ Jan Husby

	Name: Leif Henning Dokset
	 
	Name: Jan Husby

	Title: Director
	 
	Title: Director

	 
	 
	 

	PRA Group Polska sp. z o.o. 
	 
	PRA Group Europe Investment AS (formerly Aktiv Kapital Investment AS)

	 
	 
	 

	By: /s/ Christopher Hagberg      
	 
	By: /s/ Christopher Hagberg      

	Name: Christopher Hagberg
	 
	Name: Christopher Hagberg

	Title: Attorney in fact
	 
	Title: Attorney in fact

	
			
	AK Nordic AB
	 
	PF1 UK Limited 

	By: /s/ Christopher Hagberg      
	 
	By: /s/ Christopher Hagberg      

	Name: Christopher Hagberg
	 
	Name: Christopher Hagberg

	Title: Attorney in fact
	 
	Title: Attorney in fact

	
			
	Debt Trading Partners BIS sp. z o.o.
	 
	Debt Trading Partners sp. z o.o. S.K.A.

	By: /s/ Christopher Hagberg      
	 
	By: /s/ Christopher Hagberg      

	Name: Christopher Hagberg
	 
	Name: Christopher Hagberg

	Title: Attorney in fact
	 
	Title: Attorney in fact

	
			
	Debt Trading Partners sp. z o.o.
	 
	 

	By: /s/ Christopher Hagberg      
	 
	 

	Name: Christopher Hagberg
	 
	 

	Title: Attorney in fact
	 
	 

The Security Providers:
For the purposes of confirming Clause 3, 4.3 and 4.5 of this Agreement:
	
			
	Aktiv Kapital Sourcing AS
	 
	PRA Group Europe Holding I S.à r.l.

	 
	 
	 

	By: /s/ Christopher Hagberg      
	 
	By: /s/ Christopher Hagberg      

	Name: Christopher Hagberg
	 
	Name: Christopher Hagberg

	Title: Attorney in fact
	 
	Title: Attorney in fact

	 
	 
	 

	 
	 
	 

	 
	 
	 

	PRA Group Europe Subholding AS
	 
	 

	 
	 
	 

	By: /s/ Christopher Hagberg      
	 
	 

	Name: Christopher Hagberg
	 
	 

	Title: Attorney in fact
	 
	 

	
			
	The Facility Agent:
	 
	The Security Agent:

	 
	 
	 

	DNB Bank ASA
	 
	DNB Bank ASA 

	 
	 
	 

	By: /s/ Daniel Jovanovic
	 
	By: /s/ Daniel Jovanovic

	Name: Daniel Jovanovic
	 
	Name: Daniel Jovanovic

	Title: Attorney-in-fact
	 
	Title: Attorney-in-fact

	 
	 
	 

	The Lenders:
	 
	 

	 
	 
	 

	DNB Bank ASA 
	 
	 

	 
	 
	 

	By: /s/ Daniel Jovanovic
	 
	 

	Name: Daniel Jovanovic
	 
	 

	Title: Attorney-in-fact
	 
	 

	 
	 
	 

	The Mandated Lead Arrangers 
	 
	The Bookrunner 

	 
	 
	 

	DNB Markets 
	 
	DNB Markets 

	 
	 
	 

	By: /s/ Daniel Jovanovic
	 
	By: /s/ Daniel Jovanovic

	Name: Daniel Jovanovic
	 
	Name: Daniel Jovanovic

	Title: Attorney-in-fact
	 
	Title: Attorney-in-fact

	 
	 
	 

	Nordea Bank Norge ASA 
	 
	 

	 
	 
	 

	By: /s/ Mikkel Andreas Vogt
	 
	 

	Name: Mikkel Andreas Vogt
	 
	 

	Title: Senior Vice President
	 
	 

	 
	 
	 

	Swedbank AB (publ) 
	 
	 

	 
	 
	 

	By: /s/ Rikard Talling
	 
	 

	Name: Rikard Talling
	 
	 

	Title: Director
	 
	 

SCHEDULE 1
CONDITIONS PRECEDENT

		
	1.
	In respect of each Obligor, each New Obligor and each Security Provider:

		
	(c)
	Company Certificate or equivalent; 

		
	(d)
	Certificate of Incorporation, Articles of Association, Memorandum or equivalent documents, inter alia:

		
	(i)
	in relation to an Obligor incorporated in Luxembourg (a) an Excerpt from the Luxembourg Trade and Companies Register not older than one Business Day prior to the Effective Date, (b) Certificate of non-inscription of a judicial decision from the Luxembourg Trade and Companies Register not older than one Business Day prior to the Effective Date and (c) a Domiciliation Certificate issued by the domiciliation agent; 

		
	(ii)
	in relation to an Obligor incorporated in Germany (a) up to date articles of association and (b) an excerpt from the electronic commercial register; and

		
	(iii)
	in relation to an Obligor incorporated in Poland (a) the up to date articles of association or statutes and (b) current excerpt from the National Court Register;

		
	(e)
	resolutions duly passed at a board meeting (or equivalent) (and/or if applicable, a shareholders meeting or supervisory board if required by lawyers of the Agent in the relevant jurisdiction), evidencing:

		
	(i)
	the approval of the terms of, and the transactions contemplated by, this Agreement and any Finance Document to which the entity is a party; 

		
	(ii)
	the authorisation of its appropriate officer or officers or other representatives to execute this Agreement on its behalf; and

		
	(iii)
	confirmation that the guarantees and security granted by the respective Obligor/Security Provider remains in force notwithstanding the amendments and that such guarantees and security extend to cover the Amended Facility Agreement;

		
	(f)
	(unless granted directly by the board pursuant to the resolutions referred to in item (e) above) powers of attorney to its representative(s) for the execution of the relevant Finance Documents (as required by lawyers of the Agent in the relevant jurisdiction); and

		
	(g)
	specimen signatures of the person(s) authorised in the resolutions described in items a) and b) above, together with such identification any Lender may reasonably require to satisfy “know-your-customer” requirement applicable to such Obligor/Security Provider. 

		
	2.
	Finance Documents

		
	a.
	Original counterparts of this Agreement duly executed on behalf of the Parties.

		
	3.
	Security Documents:

		
	a.
	Spanish law ratification of the pledge over shares in PRA Iberia, S.L.U.; 

		
	b.
	Swiss law security confirmation agreement regarding the pledge over the shares in PRA Group Switzerland Portfolio AG (previously Aktiv Kapital Holding AG); 

		
	c.
	German law notarial security confirmation agreement regarding the pledge over shares in PRA Group Deutschland GmbH;

		
	d.
	German law governed amendment agreement relating to the amended parallel debt agreement;

		
	e.
	English law governed fourth ranking security over shares deed in respect of the shares in PRA Group (UK) Limited;

		
	f.
	Luxembourg law governed amendment agreement in relation to the share pledge agreement over shares in PRA Group Europe Holding S.à r.l.; 

		
	g.
	English law governed first ranking charge over shares deed in respect of the shares in PF1 UK Limited;

		
	h.
	English law governed obligor accession deed to the Security Trust Deed originally dated 19 December 2014 for PF1 UK Limited;

		
	i.
	Polish law governed amendment agreements to the following pledge agreements: (i) to the agreement for financial and registered pledge over shares in PRA Group Polska sp. z o.o. dated 1 July 2015; (ii) to the agreement for financial and registered pledge over shares in PRA Group Polska sp. z o.o. dated 21 December 2015; (iii) to the agreement for financial and registered pledge over investment certificates in Horyzont Niestandaryzowany Sekurytyzacyjny Fundusz Inwestycyjny Zamkniêty dated 1 July 2015; (iv) to the agreement for financial and registered pledge over investment certificates in Horyzont Niestandaryzowany Sekurytyzacyjny Fundusz Inwestycyjny Zamkniêty dated 21 December 2015 and (v) to the agreement for financial and registered pledge over investment certificates in Omega Wierzytelnoœci Niestandaryzowany Sekurytyzacyjny Fundusz Inwestycyjny Zamkniêty dated 1 July 2015;

		
	j.
	Polish law governed submissions to enforcement in accordance with article 777 of the Polish Civil Procedure Code granted in favour of the Lenders by PRA Group Polska sp. z o.o. and the Borrower;

		
	k.
	Polish law governed first ranking share pledge agreement over the shares of DTP BIS;

		
	l.
	Polish law governed first ranking share pledge agreement over the shares of DTP SKA;

		
	m.
	Polish law governed first ranking share pledge agreement over the shares of DTP;

		
	n.
	Polish law governed first ranking pledge agreements over all the investment certificates in DTP NS FIZ;

		
	o.
	Polish law governed submission to enforcement in accordance with article 777 of the Polish Civil Procedure Code granted in favour of the Lenders by DTP BIS;

		
	p.
	Polish law governed submission to enforcement in accordance with article 777 of the Polish Civil Procedure Code granted in favour of the Lenders by DTP SKA;

		
	q.
	Polish law governed submission to enforcement in accordance with article 777 of the Polish Civil Procedure Code granted in favour of the Lenders by DTP;

		
	r.
	Polish law governed submission to enforcement in accordance with article 777 of the Polish Civil Procedure Code granted in favour of the Lenders by DTP S.A.;

		
	s.
	Norwegian law governed pledge certificates in connection with Intra-Group Loans granted to (i) PF1 UK Limited, (ii) DTP SKA and (iii) DTP BIS; and

		
	t.
	such other amendments to any Security Documents or filings of this Agreement as will be necessary in order to verify that the Security Documents remain in full force and effect.

		
	4.
	Miscellaneous

		
	a.
	Evidence that the Borrower has paid, or will pay on the Effective Date, all fees payable in accordance with this Agreement;

		
	b.
	A statement from the Borrower that no Default has occurred as of the Effective Date; and

		
	c.
	Any other documents as reasonably requested by the Agent.

		
	5.
	Legal Opinions: 

		
	a.
	Legal opinion from BA-HR in respect of Norwegian law issues; 

		
	b.
	Legal opinion from Lindahl in respect of Swedish law issues; 

		
	c.
	Legal opinion from Waselius & Wist in respect of Finnish law issues; 

		
	d.
	Legal opinion from Hengeler & Mueller in respect of German law issues; 

		
	e.
	Legal opinion from Lenz & Staehelin in respect of Swiss law issues; 

		
	f.
	Legal opinion from Dorda, Brugger & Jordis in respect of Austrian law issues; 

		
	g.
	Legal opinion from Arendt& Medernach S.A. in respect of Luxembourg law issues; 

		
	h.
	Legal opinion from Slaughter & May in respect of English law issues; 

		
	i.
	Legal opinion from Wardynski in respect of Polish law issues;

		
	j.
	Legal opinion from Uría & Menendez in respect of Spanish law issues; and

		
	k.
	Any such other favourable legal opinions in form and substance satisfactory to the Agent as the Agent may require. 

SCHEDULE 2
GUARANTORS 	
			
	Country   
	Company 
	Organisation number 

	Norway 
	PRA Group Europe AS
	960 545 397

	Norway
	PRA Group Europe Portfolio AS (formerly Aktiv Kapital Portfolio AS) 
	942 464 347

	Switzerland
	PRA Group Europe Portfolio AS, Oslo, Zweigniederlassung Zug (formerly AKTIV KAPITAL PORTFOLIO AS, Oslo, Zweigniederlassung Zug) 
	CHE-115.187.385

	Norway 
	PRA Group Norge AS 
	995 262 584

	Norway 
	PRA Group Europe Financial Services AS (formerly Aktiv Kapital Financial Services AS)
	979 112 300

	Sweden 
	PRA Group Sverige AB  
	556189-4493

	Switzerland 
	PRA Group Switzerland Portfolio AG 
	CHE-116.343.570

	Finland 
	Aktiv Kapital Portfolio Oy
	1569399-7

	Finland 
	PRA Suomi Oy 
	1569394-6

	Austria 
	PRA Group Österreich Inkasso GmbH
	FN 207430 w

	Austria 
	PRA Group Österreich Portfolio GmbH
	FN 426567 f

	Germany 
	PRA Group Deutschland GmbH
	HRB 18837

	England 
	PRA Group (UK) Limited
	4267803

	England
	PF1 UK Limited
	10153414

	Spain
	PRA Iberia, S.L.U.
	B 8056 8769

	Norway
	PRA Group Europe Investment AS (formerly Aktiv Kapital Investment AS)
	997 016 556

	Poland
	PRA Group Polska sp. z o.o.
	0000537397

	Poland
	Debt Trading Partners BIS sp. z o.o. 
	0000517951

	Poland
	Debt Trading Partners sp. z o.o. S.K.A. 
	0000482450

	Poland
	Debt Trading Partners sp. z o.o.
	0000275441

	
			
	Sweden
	AK Nordic AB
	556197-8825

SCHEDULE 3
SECURITY PROVIDERS
	
			
	Country   
	Company 
	Organisation number 

	Norway 
	PRA Group Europe Subholding AS
	913 269 020

	Norway
	Aktiv Kapital Sourcing AS
	879 174 392

	Luxembourg
	PRA Group Europe Holding I S.à r.l.
	B185154

	
			
	USD 900,000,000 + EUR 267,000,000
TERM AND MULTICURRENCY REVOLVING CREDIT FACILITIES AGREEMENT
Originally dated 23 October 2014
and
amended by an amendment letter dated 18 December 2014 and an amendment letter dated 13 January 2015, and as amended and restated by a first amendment and restatement agreement dated 12 June 2015, a second amendment and restatement agreement dated 19 February 2016 and a third amendment and restatement agreement dated 2 September 2016 
for
PRA Group Europe Holding S.à r.l 
arranged by
DNB Bank ASA, Nordea Bank Norge ASA and Swedbank AB (publ) 
as Mandated Lead Arrangers
and

DNB Bank ASA
as Bookrunner

with
DNB BANK ASA
as Facility Agent

and

DNB BANK ASA
as Security Agent

	 
	 
	 

	 
	www.bahr.no
	 

	
				
	 
	CONTENTS
	 

	Clause
	 
	Page
	

	1.
	DEFINITIONS AND INTERPRETATION
	2
	

	2.
	THE FACILITIES
	23
	

	3.
	PURPOSE
	25
	

	4.
	CONDITIONS PRECEDENT
	25
	

	5.
	UTILISATIONS
	26
	

	6.
	INTEREST
	28
	

	7.
	REDUCTION, REPAYMENT, PREPAYMENT AND CANCELLATION
	31
	

	8.
	CHANGES IN CIRCUMSTANCES
	32
	

	9.
	FEES AND EXPENSES
	36
	

	10.
	TAXES AND TAX INDEMNITIES
	37
	

	11.
	ON DEMAND GUARANTEE AND INDEMNITY
	41
	

	12.
	SECURITY
	52
	

	13.
	REPRESENTATIONS AND WARRANTIES
	54
	

	14.
	UNDERTAKINGS
	60
	

	15.
	DEFAULT
	73
	

	16.
	SET-OFF
	76
	

	17.
	PRO RATA SHARING
	77
	

	18.
	THE AGENTS, THE MANDATED LEAD ARRANGERS, THE BOOKRUNNER AND THE LENDERS
	78
	

	19.
	PAYMENTS
	83
	

	20.
	AMENDMENTS AND WAIVERS
	86
	

	21.
	MISCELLANEOUS
	87
	

	22.
	NOTICES
	87
	

	23.
	ASSIGNMENTS, TRANSFERS AND ACCESSION
	88
	

	24.
	INDEMNITIES
	92
	

	25.
	FORCE MAJEURE
	93
	

	26.
	LAW AND JURISDICTION
	93
	

Schedule 1 The Guarantors
Schedule 2 The Lenders
Schedule 3 Conditions Precedent
Schedule 4 Drawdown Notice
Schedule 5 Form of Accession Agreement
Schedule 6 Form of Transfer Certificate
Schedule 7  Group Structure
Schedule 8 Certain Approved Loan Portfolios
Schedule 9 Form of Compliance Certificate
Schedule 10 Security Documents
Schedule 11 ERC Calculation principles
Schedule 12 GIBD Ratio Calculation Principles

THIS AGREEMENT is originally dated 23 October 2014 as amended and restated by a first amendment agreement dated 12 June 2015, a second amendment and restatement agreement dated 19 February 2016 and a third amendment and restatement agreement dated 2 September 2016 and made between 
PRA Group Europe Holding S.à r.l. (formerly SHCO 54 S.à r.l.), a private limited liability company (société à responsabilité limitée) incorporated under the laws of Luxembourg, having a share capital of EUR 12,500 and its registered office at 42-44, Avenue de la Gare, L-1610 Luxembourg, Grand Duchy of Luxembourg, registered with the Luxemburg Trade and Companies Register under number B183422 and acting through its Swiss branch office PRA Group Europe Holding S.à r.l., Luxembourg, Zug Branch (the “Swiss Branch”) at Bundesstrasse 5, 6300 Zug, Switzerland (registration number CHE-305.746.539) (each a “Borrower”, together the “Borrowers”);
		
	(1)
	THE COMPANIES listed in Schedule 1 (each a “Guarantor”);

		
	(2)
	THE LENDERS listed in Schedule 2 (each a “Lender”);

		
	(3)
	DNB Bank ASA of Dronning Eufemias Gate 30, 0191 Oslo, Norway (registration number 984 851 006) (the “Facility Agent”);

		
	(4)
	DNB Bank ASA of Dronning Eufemias gate 30, 0191 Oslo, Norway (registration number 984 851 006) (the “Security Agent”); 

		
	(5)
	DNB Bank ASA, of Dronning Eufemias gate 30, 0191 Oslo, Norway (registration number 984 851 006), Nordea Bank Norge ASA of Essendrops gate 7, 0368 Oslo, Norway and Swedbank AB (publ) of Brunkebergstorg 8, Stockholm, Sweden as mandated lead arrangers (the “Mandated Lead Arrangers”); and

		
	(6)
	DNB Bank ASA, of Dronning Eufemias gare 30, 0191 Oslo, Norway (registration number 984 851 006) as bookrunner (the “Bookrunner”).-

IT IS AGREED as follows:
		
	1.
	DEFINITIONS AND INTERPRETATION

		
	1.1
	Definitions

In this Agreement the terms and expressions with capital letters shall have the meaning as set out in this Clause 1.1 unless the context otherwise requires.
“Accession Agreement” means an agreement substantially in the form set out in Schedule 5 (Form of Accession Agreement), or as otherwise approved by the Facility Agent whereby inter alia a person becomes a Party to this Agreement in relation to all existing Parties under this Agreement and all existing Parties, including any subsequent Party, become bound in relation to such new acceding Party.
“Accounting Principles” means IFRS procedure. 
“Accounting Reference Date” means 31 December.
“Accounts” means the financial statements provided pursuant to Clause 14.1.1 (Financial Statements).

“Acquisition Price” means the Aggregate Cash Purchase Price being paid to a seller of one or more than one Approved Loan Portfolio with any additional external fees and VAT paid by the buyer as applicable. 
“Affiliate” means, in relation to any person, a Subsidiary of that person or a holding company of that person or any other Subsidiary of that holding company.
“Aggregate Cash Purchase Price” means the agreed purchase price for a Loan Portfolio. Any claims and/or cash paid to the seller as a result of claims reported in accordance with Clause 14.1.9 (Claims from sellers of Approved Loan Portfolio) shall be deducted from the Acquisition Price. 
“Agents” means the Facility Agent and the Security Agent and “Agent” means either of them, as applicable.
“Agreement” means this agreement as from time to time amended. 
“AK Nordic” means AK Nordic AB, a company incorporated in Sweden with organisation number 556197-8825.
“AK Nordic Deposits” means any funds provided to AK Nordic by accountholders with AK Nordic. 
“Applicable Margin” means:
		
	(a)
	in relation to any Facility A Loan, (i) when the LTV Ratio is equal to or above 70%, 3.90% per annum (ii) when the LTV Ratio is equal to or above 60% but lower than 70%, 3.60% per annum, (iii) when the LTV Ratio is equal to or above 40% but lower than 60%, 3.30% per annum and (iv) when the LTV Ratio is below 40%, 2.80% per annum; and

		
	(b)
	in relation to the Facility B Loan, (i) when the LTV Ratio is equal to or above 70%, 4.50% per annum and (ii) when the LTV Ratio is below 70%, 4.25% per annum.

Approved Loan Portfolio” means, subject to Clause 14.3.7 (Merger and Acquisitions etc.):
		
	(a)
	a Loan Portfolio which is acquired after the date hereof; or

		
	(b)
	a Loan Portfolio belonging to a company which is acquired by a Group Company after the date hereof and has become a Portfolio Owner; 

and which satisfies the following conditions (if not otherwise approved in writing by the Facility Agent on behalf of the Majority Lenders): 
		
	(i)
	claims arising from Lenders, financial institutions under supervision of a financial authority, other reputable entities engaged in consumer based financing or telecommunication, utility or mail order companies within a Permitted Jurisdiction; 

		
	(ii)
	the seller of the Loan Portfolio is a party unconnected with the Borrower or any of its affiliates;

		
	(iii)
	the buyer of the Loan Portfolio is a Portfolio Owner (except for such acquisition described in (b) above); 

		
	(iv)
	the acquired Loan Portfolio is not subject to any Encumbrance or any other restrictions where the seller of the Loan Portfolio or a related party of the seller has a right to re-purchase the acquired Loan Portfolio (save where such re-purchase right addresses concerns of the seller relating to (i) (its) compliance with laws and regulations, (ii) reputational issues, (iii) the failure of the relevant portfolio owner to comply with industry practice standards, or (iv) similar reasons not financially motivated, provided in each case that such re-purchase right is on customary terms and conditions; 

		
	(v)
	the Acquisition Price does not exceed USD 100,000,000, other than for the Brighton Portfolio, the Belfast Portfolio and the MBNA Portfolio;

		
	(vi)
	forward flow contracts shall have a maturity of maximum 12 months or a termination clause with the same effect, except for the forward flow contracts under the MBNA Portfolio which shall have a maturity of 14 months during the first year from the date of the Group’s acquisition of such; and 

		
	(vii)
	the acquisition shall not lead to a breach on any of the following conditions:

		
	(A)
	ERC of Total Loan Portfolios with an Acquisition Price exceeding 50 % of face value shall in aggregate not constitute more than 5% of the ERC;

		
	(B)
	ERC of Total Loan Portfolios from France, Portugal or the Netherlands shall in aggregate not constitute more than 5% of the ERC; 

		
	(C)
	ERC of Total Loan Portfolios from Italy shall in aggregate not constitute more than 20% of the ERC; 

		
	(D)
	ERC of Total Loan Portfolios from Spain shall in aggregate not constitute more than 20% of the ERC; 

		
	(E)
	ERC from Total Loan Portfolios from Poland shall in aggregate not constitute more than 15% of the ERC.

		
	(F)
	ERC from claims deriving from telecommunication business in Total Loan Portfolios shall not exceed 10% of the ERC; and 

		
	(G)
	ERC from personal claims or personally guaranteed claims in Total Loan Portfolios shall exceed 90% of the ERC.

“Assignment of Intra-Group Loans” means the first priority assignment of Intra-Group Loans in favour of the Security Agent (on behalf of the Finance Parties) on terms and in substance satisfactory to the Security Agent. 
“Assignment of Restructuring Intra-Group Loans” means the first priority assignment of Restructuring Intra-Group Loans in favour of the Security Agent (on behalf of the Finance Parties) on terms and in substance satisfactory to the Security Agent pursuant to (b) of the definition of Restructuring Intra-Group Loans.

“Auditors” means, in relation to each Group Company, the chartered accountant firms known as Ernst & Young, PWC, KPMG, Deloitte or any other firm of chartered accountants of internationally recognised standing that has been appointed as auditors of such Group Company and approved by the Facility Agent (on behalf of all the Lenders) (each an “Auditor”).
“Availability Period” means:
		
	(a)
	in relation to Facility A, the period from and including 23 October 2014 to the date falling thirty (30) days before the Final Repayment Date; and

		
	(b)
	in relation to Facility B, the period from and including the Third Effective Date up to and including the date falling 20 Business Days after the Third Effective Date, however so that Facility B shall not in any event be available after 28 September 2016.

“Belfast Portfolio” means the Loan Portfolio as presented to the Agent and Lenders on 13 May 2015, to be acquired by the Group from Barclaycard within 4 months of the First Effective Date, for a consideration not exceeding GBP 170,000,000. The Belfast Portfolio shall be owned by a Security Portfolio Owner. 
“Book Value of Approved Loan Portfolios” has the meaning given to the term in Clause 14.4.1 (Financial Definitions).
“Brighton Portfolio” means the Loan Portfolio as presented to the Agent and Lenders in September 2015, to be acquired by the Group, for a consideration of approximately GBP 85,000,000. The Brighton Portfolio shall be owned by a Security Portfolio Owner.
“Business Day” means:
		
	a.
	a day (other than a Saturday or a Sunday) on which Lenders are open for general interbank business in Oslo and Stockholm; and

		
	b.
	in respect of a transaction involving Euros a day which also is a TARGET Day; and

		
	c.
	in respect of a day on which a payment or other transaction in an Optional Currency is made under this Agreement, also a day (other than a Saturday, Sunday or other public holiday) on which a bank and foreign exchange markets are open for business in the principal financial centre of that Optional Currency.

“Cash Pool Account” means any account established under the Cash Pool Agreement.
“Cash Pool Agreement” means a cash pool agreement (including any participation agreement) entered into between amongst others, DNB Bank ASA, the Borrowers and certain other specified Subsidiaries of the Borrowers and where the top account is held by either of the Borrowers, or any other company approved by the Majority Lenders.
“Certified Copy” means, in relation to a document, a copy of that document certified as being a true, complete and accurate copy of the original by a duly authorised officer of the relevant company or Borrower.

“Change” means, in relation to a Lender (or any company of which that Lender is a Subsidiary), the introduction, implementation, repeal, withdrawal or change in, or in the interpretation or application of, (a) any law, regulation, practice or concession, or (b) any directive, requirement, request or guidance (whether or not having the force of law but if not having the force of law, one which applies generally to a class or category of financial institutions of which that Lender (or that company) forms part and compliance with which is in accordance with the general practice of those financial institutions) of the European Community, any central Lender including the European Central Lender, any relevant Financial Supervisory Authority, or any other fiscal, monetary, regulatory or other authority.
“Change of Control” has the meaning given to that term in Clause 7.3.2.
“CIBOR” means in relation to any Loan or other sum in DKK:
		
	a.
	the applicable Screen Rate; or

		
	b.
	(if no Screen Rate is available for the Interest Period of that Loan or other sum) the arithmetic mean of the rates (rounded upwards to four decimal places) as supplied to the Facility Agent at its request quoted by the Reference Banks to leading Lenders in the Danish interbank market,

in both cases at or about 12.00 a.m. (Oslo time) on the second Business Day prior to the relevant Interest Period for the offering of deposits in DKK and for a period comparable to the Interest Period of that Loan or other sum and if any such rate is below zero, CIBOR will be deemed to be zero. 
“Code” means the US Internal Revenue Code of 1986.
“Collection Company” means an entity appointed as a collection company for the sole purpose of collection in respect of a Loan Portfolio on behalf of a Portfolio Owner (unless otherwise agreed with the Majority Lenders) 
“Commitment” means a Facility A Commitment and/or a Facility B Commitment. 
“Compliance Certificate” has the meaning given to that term in Clause 14.1.4 (Compliance Certificates), a form of which is set out in Schedule 9.
“Default” means any event specified as such in Clause 15.1 (Default).
“Default Notice” has the meaning given to that term in Clause 15.2 (Acceleration, etc.).
“Disposal” means a sale, transfer or other disposal (including by way of lease or loan) by a person of all or part of its assets, whether by one transaction or a series of transactions and whether at the same time or over a period of time and shall, for the avoidance of doubt, include any repurchase of any part of a Loan Portfolio pursuant to a repurchase right as described under the definition of Approved Loan Portfolio, clause (iv).
“Drawdown Date” means the date on which a Loan is made, or is proposed to be made.
“Drawdown Notice” means a notice substantially in the form set out in Part 1 of Schedule 4.

“Earmarked Funds” means AK Nordic Deposits which are transferred to an account with the Facility Agent. 
“EBITDA” shall have the meaning ascribed to it under Clause 14.4.1 (Financial definitions).
“Encumbrance” means any mortgage, charge, assignment by way of security, pledge, hypothecation, lien, right of set off, retention of title provision (for the purpose of, or which has the effect of, granting security) or any other security interest of any kind whatsoever, or any agreement, whether conditional or otherwise, to create any of the same, or any agreement to sell or otherwise dispose of any asset on terms whereby such asset is leased to or re acquired or acquired by any Group Company.
“ERC” shall have the meaning ascribed to it under Clause 14.4.1 (Financial definitions).
“EURIBOR” means, in relation to any Loan or other sum in Euro:
		
	(a)
	the applicable Screen Rate, or

		
	(b)
	(if no Screen Rate is available for the Interest Period of that Loan or other sum) the arithmetic mean of the rates (rounded upwards to four decimal places) as supplied to the Facility Agent at its request quoted by the Reference Banks to leading Lenders in the European interbank market,

in both cases at or about 11.00 am (Brussels time) on the second Business Day prior to the relevant Interest Period for the offering of deposits in Euro and for a period comparable to the Interest Period of that Loan or other sum and if any such rate is below zero, EURIBOR will be deemed to be zero. 
“Existing Loan Portfolio(s)” means Loan Portfolios owned by a Portfolio Owner at the date of this Agreement which fulfils the requirements set out under (i) through (vii) under the definition of Approved Loan Portfolio, or to the extent listed in Schedule 8.
“Existing Facilities” means the (i) term loan facility agreement originally dated 29 March 2011 (as amended), (ii) the revolving credit facility agreement originally dated 4 May 2012 (as amended), both entered into between PRA Group Europe AS (formerly Aktiv Kapital AS) as the borrower and the Lenders and the Agent and (iii) a NOK 350,000,000 bridge loan between DNB Bank ASA and PRA Group Europe AS (formerly Aktiv Kapital AS) dated 24 June 2014.
“Face Value” means the aggregate amount of principal, interest accrued on claims and collection costs accrued on claims within a Loan Portfolio.
“Facility” means (i) Facility A and (ii) Facility B (together the “Facilities”).
“Facility A” means the up to USD 900,000,000 multicurrency revolving credit facility as described in Clause 2.1 (The Facilities).
“Facility A Commitment” means, in relation to a Lender, the principal amount described as such set opposite its name in Schedule 2 part I or set out under the heading ”Amount of Facility A Commitment Transferred” in the schedule to any relevant Transfer Certificate, in each case as (i) reduced or cancelled, or (ii) increased, in accordance with this Agreement.

“Facility A Loan” means a loan made or to be made under Facility A or the principal amount outstanding for the time being of that loan.
“Facility B” means the EUR 267,000,000 term loan facility as described in Clause 2.1 (The Facilities).
“Facility B Commitment” means, in relation to a Lender, the principal amount in relation to Facility B described as such set opposite its name in Schedule 2 or set out under the heading “Amount of Facility B Commitment Transferred” in the schedule to any relevant Transfer Certificate, in each case as (i) reduced or cancelled, or (ii) increased, in accordance with this Agreement.
“Facility B Loan” means a loan made, or to be made, in one drawdown under Facility B or the principal amount outstanding for the time being of that loan.
“FATCA” means; 
		
	(a)
	Sections 1471 to 1474 of Code of 1986 or any associated regulations or other official guidance; 

		
	(b)
	Any treaty, law regulation or other official guidance enacted in any other jurisdiction, or relating to an intergovernmental agreement between the United States of America and any other Jurisdiction, which (in either case) facilitates the implementation of paragraph (a) above; or 

		
	(c)
	Any agreement pursuant to the implementation of paragraphs (a) or (b) above with the United States of America Internal Revenue Service, the United States of America’s government or any governmental or taxation authority in any other jurisdiction.  

“FATCA Application Date” means:
		
	(d)
	in relation to a “withholdable payment” described in section 1473(1)(A)(i) of the Code (which relates to payments of interest and certain other payments from sources within the United States of America), 1 July 2014; 

		
	(e)
	in relation to a “withholdable payment” described in section 1473(1)(A)(ii) of the Code (which relates to “gross proceeds” from the disposition of property of a type that can produce interest from sources within the United States of America), 1 January 2017; or

		
	(f)
	in relation to a “passthru payment” described in section 1471(d)(7) of the Code not falling within paragraphs (a) or (b) above, 1 January 2017,

or, in each case, such other date from which such payment may become subject to a deduction or withholding required by FATCA as a result of any change in FATCA after the date of this Agreement.
“FATCA Deduction” means a deduction or withholding from a payment under a Finance Document required by FATCA.

“FATCA Exempt Party” means a Party that is entitled to receive payments free from any FATCA Deduction.
“Fee Letter(s)” means any letter entered into by reference to this Agreement between the Bookrunner, Agents and Borrowers setting out the amount of certain fees referred to in this Agreement.
“Final Repayment Date” means 19 February 2021. 
“Finance Parties” means each Lender, the Facility Agent, the Security Agent, each Hedging Bank and the Bookrunner and “Finance Party” means any of them.
“Financial Quarter” means the period commencing on the day after one Quarter Date and ending on the next Quarter Date.
“Financial Year” means, in relation to a company, the period in respect of which its annual audited financial statements are required to be made up, i.e. 1 January - 31 December. 
“Finance Documents” means:
		
	(a)
	this Agreement;

		
	(b)
	the Fee Letter(s);

		
	(c)
	any Overdraft Facility Agreement;

		
	(d)
	the Hedging Agreements;

		
	(e)
	the Security Documents;

		
	(f)
	each Accession Agreement;

		
	(g)
	each Transfer Certificate;

		
	(h)
	the Cash Pool Agreement; and

		
	(i)
	each other document agreed as such in writing by the Facility Agent and the Borrowers.

“First Amendment and Restatement Agreement” means the agreement for the first amendment and restatement of this Agreement, dated 12 June 2015.
“First Effective Date” means the date of the amendment and restatement of this Agreement becoming effective in accordance with the First Amendment and Restatement Agreement.
“German Portfolio” means certain portfolios for a maximum amount up to EUR 8,000,000 to be purchased and held on trust by Berliner Inkassogesellschaft mbH (“BIG”) for PRA Group Deutschland GmbH in accordance with a trust agreement dated 5 December 2014.
“GIBD” shall have the meaning ascribed to it under Clause 14.4.1 (Financial definitions). 

“GIBD Ratio” shall have the meaning ascribed to it under Clause 14.4.1 (Financial definitions).
“Group” means the Borrowers and its Subsidiaries, except for any Non-Recourse Companies, but for the avoidance of doubt including the Polish Securitization Funds. 
“Group Company” means any of the Borrowers and its Subsidiaries, except for any Non-Recourse Company.
“Guarantors” means the Group Companies specified in Schedule 1 as guarantors and any other Group Company that becomes party to this Agreement pursuant to Clause 12.3 (Additional Guarantor) and “Guarantor” shall be construed accordingly. For the avoidance of doubt: AK Nordic shall not be a Guarantor to the extent prohibited by law or the terms of its public license(s). 
“Hedging Agreement” means a master agreement and related interest and currency hedging instruments entered into or to be entered into between PRA Group Europe AS (formerly Aktiv Kapital AS) or the Borrowers and a Hedging Bank as part of the Hedging Strategy.
“Hedging Bank” means (i) each Lender or an affiliate of a Lender which enters or has entered into a Hedging Agreement with a member of the Group.
“Hedging Strategy” means a strategy in respect of the currency and interest rate exposure.
“IBOR” means:
		
	a.
	in respect of a Loan or other sum in DKK, CIBOR;

		
	b.
	in respect of a Loan or other sum in NOK, NIBOR;

		
	c.
	in respect of a Loan or other sum in SEK, STIBOR;

		
	d.
	in respect of a Loan or other sum in EUR, EURIBOR; and

		
	e.
	in respect of a Loan or other sum in USD or an Optional Currency (other than DKK, NOK, SEK and EUR), LIBOR.

“Indebtedness” means, in relation to a person, its obligation (whether present or future, actual or contingent, as principal or guarantor) for the payment or repayment of money (whether in respect of interest, principal or otherwise) incurred in respect of:
		
	a.
	moneys borrowed or raised;

		
	b.
	any bond, note, loan stock, convertible, debenture or similar instrument;

		
	c.
	any redeemable preference share which is redeemable at the option of the holder at any time prior to the second anniversary of the Final Repayment Date;

		
	d.
	any acceptance credit, bill discounting, note purchase, factoring or documentary credit facility;

		
	e.
	the supply of any goods or services which is more than eighty (80) days past the expiry of the period customarily allowed by the relevant supplier after the due date;

		
	f.
	any lease, hire agreement, credit sale agreement, hire purchase agreement, conditional sale agreement or instalment sale and purchase agreement which should be treated in accordance with the Accounting Principles as a finance or capital lease or in the same way as a finance or capital lease;

		
	g.
	any guarantee, bond, stand by letter of credit or other similar instrument issued in connection with the performance of contracts;

		
	h.
	any interest rate or currency swap agreement or any other hedging or derivatives instrument or agreement;

		
	i.
	any arrangement entered into primarily as a method of raising finance pursuant to which any asset sold or otherwise disposed of by that person is or may be leased to or re acquired by a Group Company (whether following the exercise of an option or otherwise); or 

		
	j.
	any guarantee, indemnity or similar insurance against financial loss given in respect of the obligation of any person falling within any of paragraphs (a) to (i) above.

“Intellectual Property Rights” means all registered patents, trade-marks, service marks, trade names, design rights, copyright, titles, rights to know-how and other intellectual property rights.
“Interest Date” means the last day of an Interest Period.
“Interest Period” means each period determined in accordance with Clause 6 (Interest) for the purpose of calculating interest on Loans or overdue amounts.
“Intra-Group Loans” means any and all loans and credits between the Borrowers, PRA Group Europe AS (formerly Aktiv Kapital AS) and any Subsidiary thereof all subject to a loan agreement being satisfactory to the Agent and assigned in accordance with the Assignment of Intra-Group Loans. 
“Lenders” means the lenders and financial institutions listed in Schedule 2, their respective successors and any Lender Transferee.
“Lender Transferee” has the meaning given to that term in Clause 23.3.2.
“LIBOR” means, in relation to a Loan or other sum in an Optional Currency (other than DKK, EUR, NOK and SEK):
		
	a.
	the applicable Screen Rate; or

		
	b.
	(if no Screen Rate is available for the Interest Period of that Loan or other sum) the arithmetic mean of the rates (rounded upwards to four decimal places) as supplied to the Facility Agent at its request quoted by the Reference Banks to leading Lenders in the London interbank market,

in both cases as of 11.00 p.m. (London time) on the second Business Day prior to the relevant Interest Period for the offering of deposits in that Optional Currency and for a period comparable to the Interest Period for that Loan or other sum and if any such rate is below zero, LIBOR will be deemed to be zero.
“Luxco” means PRA Group Europe Holding III S.à r.l (formerly SHCO 70 S.à r.l), a private limited liability company (société à responsabilité limitée) incorporated under the laws of Luxembourg, having a share capital of USD 20,000 and its registered office at 6, rue Eugène Ruppert, L-2453 Luxembourg, Grand Duchy of Luxembourg, registered with the Luxembourg Trade and Companies Register under number B187.126 which shall be an indirect holding company of the Borrower. 
“Loan” means a Facility A Loan and/or a Facility B Loan.
“Loan Portfolio” means a portfolio of claims (either loans, invoices or other debt) which have not been paid upon their maturity and/or on their due dates. 
“Lone Star Equity Commitment” means Aktiv Kapital Investment AS’ existing commitment with the Lone Star Funds to invest a total amount of USD 10,000,000 in Lone Star Fund 7 and USD 25,000,000 in Lone Star Fund 8.
“LTV Ratio” shall have the meaning ascribed to it under Clause 14.4.1 (Financial definitions).
“Majority Lenders” means a Lender or a group of Lenders including any overdraft lenders whose Commitments comprise at least 66, 66 per cent of the Total Commitments (taking no account, for the purpose of this definition, of the last sentence of Clause 15.2 (Acceleration, etc.)). The Majority Lenders shall consist of a minimum of two Lenders if there is more than one Lender.
“Management Agreement” means an agreement between PRA Group Europe AS (formerly Aktiv Kapital AS) and all other companies within the Group on services provided by the Borrowers or any of its Subsidiaries which is not a member of the Group to any member of the Group.
“Material Adverse Effect” means any effect which:
		
	a.
	is materially adverse to the ability of any Obligor to comply with its payment obligations under any Finance Document; or

		
	b.
	is materially adverse to the ability of any Obligor to comply with its obligations under Clause 14.4 (Financial undertakings); or

		
	c.
	is materially adverse to the business, financial condition or assets of the Group taken as a whole; or

		
	d.
	will result in any of the Finance Documents not being legal, valid and binding and enforceable substantially in accordance with their material terms against any party thereto.

“MBNA Portfolio” means the Loan Portfolio as presented to the Agent and Lenders on 13 May 2015, partly acquired in batches with registration codes UK 1521 and UK 1522 on the First Effective Date, and to be acquired in additional batches by PRA Group UK from MBNA Ltd. for a consideration not exceeding USD 200,000,000. The MBNA Portfolio shall be owned by a Security Portfolio Owner.
“NIBOR” means in relation to any Loan or other sum in NOK:
		
	a.
	the applicable Screen Rate; or

		
	b.
	(if no Screen Rate is available for the Interest Period of that Loan or other sum) the arithmetic mean of the rates (rounded upwards to four decimal places) as supplied to the Facility Agent at its request quoted by the Reference Banks to leading Lenders in the Norwegian interbank market,

in both cases at or about 12.00 a.m. (Oslo time) on the second Business Day prior to the relevant Interest Period for the offering of deposits in NOK and for a period comparable to the Interest Period of that Loan or other sum and if any such rate is below zero, NIBOR will be deemed to be zero. 
“Non-Recourse Companies” means a Subsidiary of the Borrowers in which any debt financing of that Non-Recourse Company is on a standalone basis, without any Group Company committing to any financial support save as approved by the Majority Lenders.
“Obligors” means the Borrowers and the Guarantors, and “Obligor” shall be construed accordingly.
“Operating Budget” means, in relation to each successive 12 months period during the Security Period on an aggregate basis for the Portfolio Owners located in the same jurisdiction, a projected cash flow statement relative to each such period and on a month by month basis. 
“Optional Currency” means NOK, EUR, DKK, SEK, CHF, CAD, GBP, PLN and any other currency which the Facility Agent (on behalf of all the Lenders) has confirmed to the Borrowers is acceptable. 
“Original Base Currency Amount” means in relation to a Loan denominated in a currency other than USD, the USD Equivalent of the amount of that Loan or that Participation, as the case may be, calculated as at the Drawdown Date of that Loan; provided that if all or part of a Loan is not made or is repaid or prepaid, the “Original Base Currency Amount” of that Loan and of the Participations of the Lenders in that Loan, shall be correspondingly reduced.
“Original Collection Companies” means PRA Group Norge AS, PRA Group Sverige AB, PRA Suomi Oy, PRA Group Deutschland GmbH, PRA Group Österreich Inkasso GmbH, PRA Iberia, S.L.U. and PRA Group (UK) Limited. 
“Overdraft Facility” means the facility in the maximum amount of the Overdraft Facility Commitment to be made available to the Borrowers in accordance with Clause 2.2.2. 
“Overdraft Facility Commitment” means an amount of up to USD 40,000,000.

“Overdraft Facility Agreement” means an agreement between the Borrowers and a Lender for an overdraft facility agreement in the amount of the Overdraft Facility Commitment.
“Parent” means Portfolio Recovery Associates Inc.
“Participation” means, in relation to a Lender:
		
	a.
	and a Loan, the part of that Loan made available or to be made available by that Lender and thereafter the part of that Loan owing to that Lender from time to time;

		
	b.
	and the Facility, the aggregate of its Participations in each Loan.

“Party” means a party to this Agreement.
“Permitted Encumbrance” means:
		
	a.
	any Encumbrance under the Existing Facilities (which is to be released upon first Utilisation under this Agreement);

		
	b.
	any Encumbrance created under the Finance Documents; 

		
	c.
	any right of set off or lien, in each case arising by (i) operation of law in the ordinary course of business or (ii) otherwise in day-today operation of the Group, provided that no Vendor Financing may benefit from any Encumbrance including any right of set off or lien; 

		
	d.
	any Encumbrance incurred as a result of any Group Company acquiring another entity and which is due to such entity having provided security over any of its assets, provided that the debt secured with such security is Permitted Indebtedness in accordance with paragraph (g) of the definition of "Permitted Indebtedness" and that such security is discharged upon refinancing with the Borrower as the new borrower and in any event within two (2) months after the date of acquisition of such asset or business; 

		
	e.
	any Encumbrance not listed above, securing debt of any Group Company, up to a maximum aggregate amount (for the Group) of USD 3,000,000, provided that such Encumbrance shall not exist over any asset which is subject to a Security Document; and

		
	f.
	any other Encumbrance to the extent approved by the Majority Lenders in writing.

“Permitted Indebtedness” means:
		
	a.
	Indebtedness under any Finance Document;

		
	b.
	Indebtedness arising under a Hedging Agreement;

		
	c.
	for PRA Group Europe AS and the Borrowers only, any indebtedness arising under the Cash Pool Agreement between a cash pool owner and the participants as set out in the Cash Pool Agreement in accordance with Clause 14.3.6 (Cash Pool Agreement), from 1 April 2015 limited (on an aggregate basis for the Group) to the total amount collected from the Loan Portfolios over the preceding calendar month;

		
	d.
	any Indebtedness under any Intra Group Loan, except for Intra Group Loans to the Omega Securitization Fund exceeding a total of USD 1,000,000;

		
	e.
	any indebtedness under any Restructuring Intra-Group Loan; 

		
	f.
	financial support from the Borrowers to its shareholder resulting from the allocation, but not payment of dividends, subject to such receivable being fully subordinated to the Facility on terms acceptable to the Lenders and pledged in favour of the Lenders; 

		
	g.
	indebtedness pertaining to any acquired asset or business existing on the date of their acquisition, but not created in the contemplation of their acquisition, provided that any such Indebtedness has been discharged within two (2) months after the date of acquisition of such asset or business;

		
	h.
	Vendor Financing from entities not being Affiliates of the Borrowers, on terms acceptable to the Majority Lenders;

		
	i.
	AK Nordic Deposits provided the conditions in Clause 14.3.5(c) (Indebtedness) is complied with; 

		
	j.
	Indebtedness incurred under the bond option in accordance with clause 2.2.1;

		
	k.
	Indebtedness under the Overdraft Facility; 

		
	l.
	Indebtedness incurred pursuant to any current and future operating leases incurred  in the ordinary course of the Group’s business; 

		
	m.
	the amount of any Indebtedness in respect of any rental obligations for the lease of real property incurred in the ordinary course of business and on normal commercial terms;

		
	n.
	any Shareholder Loan;

		
	o.
	any Indebtedness not listed above in the aggregate amount (for the Group) of USD 3,000,000; and

		
	p.
	any other Indebtedness to the extent approved by the Majority Lenders in writing.

“Permitted Jurisdictions” means in respect of the Portfolio Owner and in relation to the predominant domicile of the debtors in a Loan Portfolio (i) Austria, Canada, Norway, Denmark, Finland, France, Germany, Spain, Sweden, United Kingdom, Switzerland, Ireland, Italy, Portugal, Poland and the Netherlands and (ii) such other jurisdiction acceptable to the Majority Lenders provided it has received a satisfactory legal due diligence report for such eligible jurisdiction.
“Pledge of Shareholder Loans” means the first priority pledge of any Shareholder Loan in favour of the Security Agent (on behalf of the Finance Parties) on terms and in substance satisfactory to the Security Agent. 
“Polish DTP Portfolio” means the Loan Portfolio owned by the DTP Securitization Fund.

“Polish Horyzont Portfolio” means the Loan Portfolio owned by the Horyzont Securitization Fund.
“Polish Omega Portfolio” means the Loan Portfolio owned by the Omega Securitization Fund.
“Polish Portfolios” means (i) the Polish Omega Portfolio, (ii) the Polish Horyzont Portfolio and (iii) the Polish DTP Portfolio (each a “Polish Portfolio”).
“Polish Portfolio Notes” means 
		
	a.
	the not less than 70% of the investment certificates in Omega Wierzytelnoœci Niestandaryzowany Sekurytyzacyjny Fundusz Inwestycyjny Zamkniêty (Omega Receivables Non-Standardised Securitization Closed-End Investment Fund) registered in Poland under the entry number RFI: 1038 (“Omega Securitization Fund”), which owns or will own the underlying Loan Portfolio in Poland purchased or to be purchased for a maximum amount up to PLN 250,000,000, to the extent such certificates are owned by a Portfolio Owner (the “Omega Portfolio Notes”); 

		
	b.
	not less than 100% of the investment certificates in Horyzont Niestandaryzowany Sekurytyzacyjny Fundusz Inwestycyjny Zamkniêty (Horyzont Non-Standardised Securitization Closed-End Investment Fund) registered in Poland under the entry number RFi: 1121 (“Horyzont Securitization Fund”), which owns or will own the underlying Loan Portfolio in Poland to the extent such certificates are owned by a Portfolio Owner (the “Horyzont Portfolio Notes”); and

		
	c.
	not less than 100% of the investment certificates in DTP Niestandaryzowany Sekurytyzacyjny Fundusz Inwestycyjny Zamkniêty (DTP Non-Standardised Securitization Closed-End Investment Fund) registered in Poland under the entry number RFi: 496 (“DTP Securitization Fund”), which owns or will own the underlying Loan Portfolio in Poland to the extent such certificates are owned by a Portfolio Owner (the “DTP Portfolio Notes”)

“Polish Securitization Funds” means (i) the Omega Securitization Fund, (ii) the Horyzont Securitization Fund and (iii) the DTP Securitization Fund (each a “Polish Securitization Fund”).
“Polish Security” means:
		
	a.
	a pledge agreement over (i) the Omega Portfolio Notes, (ii) the Horyzont Portfolio Notes and (iii) the DTP Portfolio Notes; and

		
	b.
	submissions to enforcement in the form of notarial deeds from the relevant security provider in respect of its Polish assets.

“Portfolio Owner” means any wholly owned direct or indirect subsidiary of the Borrowers owning Existing Loan Portfolios and/or Approved Loan Portfolios in accordance with clause 14.2.15 (Ownership of Loan Portfolios) which for the avoidance of doubt shall not include the Polish Securitization Funds. 

“Potential Default” means an event or omission which, with the giving of any notice, the lapse of time, the determination of materiality or the satisfaction of any other condition, in each case, under Clause 15.1 (Default), is likely to constitute a Default.
“Quarter” means a period of three (3) months ending on a Quarter Date.
“Quarter Date” means each 31 March, 30 June, 30 September and 31 December.
“Reference Banks” means DNB Bank ASA, Nordea Bank Norge ASA and Swedbank AB (publ).
“Reservations” means the limitation of enforcement by laws relating to bankruptcy, insolvency, liquidation, reorganisation, court schemes, moratoria, administration and other laws generally affecting the rights of creditors, defences of set off or counterclaim and similar principles.
“Restricted Party” means a person: 
		
	a.
	that is listed on any Sanctions List (whether designated by name or by reason of being included in a class of persons);

		
	b.
	that is domiciled, registered as located or having its main place of business in, or is incorporated under the laws of, a country which is subject to Sanctions Laws, which attach legal effect to being domiciled, registered as located in, having its main place of business in, and/or being incorporated under the laws of such country; or

		
	c.
	that is directly or indirectly owned or controlled by a person referred to in paragraph a)and/or (b) above; or 

		
	d.
	with which any Lender is prohibited from dealing with by any Sanctions Laws.

“Restructuring” means the restructuring of the Group as set out in a memo dated 22 September 2014 from KPMG.  
“Restructuring Intra-Group Loans” means:  
		
	a.
	any loan from an Obligor to another member of the Group (other than an Intra-Group Loan):

		
	i.
	under which no more than USD 40,000,000 is outstanding at any time; and

		
	ii.
	which is incurred pursuant to the Restructuring; and 

		
	iii.
	which remains outstanding for no more than 2 (two) months; and 

		
	iv.
	which is established and repaid within the Restructuring Period,

		
	b.
	any other loans, not meeting the requirements set out in (a) above, between any members of the Group, which are incurred pursuant to the Restructuring, established and repaid within the Restructuring Period, and assigned on identical terms as the Assignment of Intra-Group Loans.

“Restructuring Period” means the period from the original date of this Agreement up and until 31 December 2015.
“Rollover Loan” means one or more Loans:
		
	a.
	made or to be made on the same day that a maturing Loan is due to be repaid; 

		
	b.
	the aggregate amount of which is equal to or less than the maturing Loan; and

		
	c.
	made or to be made to the same Borrower for the purpose of refinancing a maturing Loan.

“Sanctions Authority” means the Norwegian State, the United Nations, the European Union, the member states of the European Union, the United States of America, the State Secretariat for Economic Affairs SECO (Switzerland), the Monetary Authority of Singapore and the Hong Kong Monetary Authority and any authority acting on behalf of any of them in connection with Sanctions Laws. 
“Sanctions Laws” means the economic or financial sanctions laws and/or regulations, trade embargoes, prohibitions, restrictive measures, decisions, executive orders or notices from regulators implemented, adapted, imposed, administered, enacted and/or enforced by any Sanctions Authority.
“Sanctions List” means any list of persons or entities published in connection with Sanctions Laws by or on behalf of any Sanctions Authority.
“Screen Rate” means the percentage rate per annum for the relevant period which appears:
		
	a.
	in relation to EURIBOR, on Reuters screen page EURIBOR 01;

		
	b.
	in relation to LIBOR, on Reuters screen page Libor 01, or Libor 02, as appropriate;

		
	c.
	in relation to NIBOR, on Reuters screen page NIBP; and

		
	d.
	in relation to STIBOR, on Reuters screen page SIOR,

or, in each case, such percentage rate per annum for the relevant period which appears (i) on such other page as may replace such page on the Reuters service for the purpose of displaying quotations of offered rates for deposits in the relevant currency in the relevant interbank Lender or, if no such replacement page is available, (ii) on the relevant page of the Telerate screen displaying quotations of offered rates for deposits in the relevant currency in the relevant interbank Lender.
“Second Amendment and Restatement Agreement” means the agreement for the second amendment and restatement of this Agreement, dated 19 February 2016.
“Second Effective Date” means the date of the amendment and restatement of this Agreement becoming effective in accordance with the Second Amendment and Restatement Agreement.

“Secured Obligations” means all obligations and liabilities of each Obligor under the Finance Documents, including (without limitation) the Borrowers’ obligation to repay the Utilisations together with all unpaid interest, default interest, commissions, charges, expenses and any other derived liability whatsoever of the Obligors towards the Finance Parties in connection with the Finance Documents.
“Security Agent” means DNB Bank ASA in its capacity as Security Agent and each successor Security Agent appointed under Clause 18.12 (Resignation and Removal).
“Security Documents” means:
		
	a.
	the documents listed in Schedule 10 (Security Documents) as from time to time amended and/or supplemented;

		
	b.
	this Agreement and any Accession Agreement pursuant to which a Group Company becomes an Obligor; and 

any other document the Security Agent may require a Group Company to enter into pursuant to any Finance Document, whereby security and/or guarantees are granted .
“Security Period” means the period starting on the first Drawdown Date hereunder and ending on the date on which all of the obligations and liabilities of the Group Companies under each Finance Document are discharged irrevocably in full and none of the Finance Parties has any continuing obligation in relation to the Facility or under any Finance Document.
“Security Portfolio Owners” means Portfolio Owners which are Guarantors and over which security is created and perfected pursuant to the Security Documents and which have entered into all relevant Security Documents and perfected any security contemplated thereunder (as applicable), all in a form and substance satisfactory to the Facility Agent, including a satisfactory legal opinion.
“Service Agreement” means an agreement entered into between a Portfolio Owner and a Collection Company regulating the collection made by the Collection Company for the Portfolio Owner. 
“Shareholder Loan” means any shareholder loan to the Borrower that:
		
	(a)
	is fully subordinated to the obligations of the Group under any Finance Documents on terms satisfactory to the Agent (acting on the instruction of the Majority Lenders), subject to a separate subordination undertaking and with no right of service or repayment unless consented to in writing by the Agent (acting on the instruction of the Majority Lenders);

		
	(b)
	has a tenor of no less than three months (subject to (a) above);

		
	(c)
	has an interest rate that does not exceed LIBOR + margin of 7.5%;

		
	(d)
	is pledged in favour of, and on terms satisfactory to, the Security Agent (on behalf of the Lenders) as security for the Secured Obligations;

		
	(e)
	can solely be utilised to acquire Approved Loan Portfolios; and

		
	(f)
	is only to be entered into if, at the time the relevant shareholder loan is entered into, either (i) the LTV Ratio is reasonably expected to exceed 70% over the next three months or (ii) the Facility have been utilised with more than 90% of the Total Commitments.

The aggregate amount of the Shareholder Loans including interest shall not at any time exceed an amount equal to 10% of the Total Commitment.
Share Pledges” means the pledges over all shares in the Portfolio Owners, Collection Companies, the Borrowers and PRA Group Europe AS (formerly Aktiv Kapital AS) in favour of the Security Agent (on behalf of the Finance Parties) on terms and in substance satisfactory to the Security Agent, subject to Clause 12.4. 
“STIBOR” means in relation to a Loan or other sum in SEK:
		
	a.
	the applicable Screen Rate; or

		
	b.
	(if no Screen Rate is available for the Interest Period of that Loan or other sum) the arithmetic mean of the rates (rounded upwards to four decimal places) as supplied to the Facility Agent at its request quoted by the Reference Banks to leading Lenders in the Stockholm interbank market,

in each case, at or about 11.00 a.m. (Stockholm time) the second Business Day prior to the relevant Interest Period for the offering of deposits in SEK and for a period comparable to the Interest Period for that Loan or other sum and if any such rate is below zero, STIBOR will be deemed to be zero. 
“Subsidiary” means an entity from time to time of which a person:
		
	a.
	has direct or indirect control; or

		
	b.
	owns directly or indirectly more than fifty (50) per cent (votes and/or capital),

for these purposes, an entity shall be treated as being controlled by a person if that person is able to direct its affairs and/or control the composition of its board of directors or equivalent body.
“Swiss Guidelines” means the following guidelines issued by the Swiss Federal Tax Administration:
		
	a.
	    guideline S-02.123 in relation to interbank loans of September 22, 1986 (Merkblatt Verrechnungssteuer auf Zinsen von Bankguthaben, deren Gläubiger Banken sind (Interbankguthaben) vom 22. September 1986);

		
	b.
	    guideline S-02.130.1 in relation to money market instruments and book claims of April 1999 (Merkblatt vom April 1999 betreffend Geldmarktpapiere und Buchforderungen inländischer Schuldner);

		
	c.
	    guideline S-02.122.1 in relation to bonds of April 1999 (Merkblatt Obligationen vom April 1999);

    

		
	d.
	circular letter no. 34 (1.034 - V - 2011) of July 2011 in relation to deposits (Kreisschreiben Nr. 34 vom Juli 2011 betreffend Kundenguthaben); and

		
	e.
	    guideline S-02.128 in relation to syndicated credit facilities of January 2000 (Merkblatt Steuerliche Behandlung von Konsortialdarlehen, Schuldscheindarlehen, Wechseln und Unterbeteiligungen vom Januar 2000),

in each case, as issued, amended or replaced from time to time.
“Swiss Non-Qualifying Bank” means any person which does not qualify as a Swiss Qualifying Bank.
“Swiss Obligor” means any Obligor incorporated (or otherwise organised) or having its registered office in Switzerland or being resident in Switzerland for purposes of Swiss Withholding Tax.
“Swiss Qualifying Bank” means a financial institution acting on its own account which is licensed as a bank by the banking laws in force in its jurisdiction of incorporation and a branch of a financial institution, which is licensed as a bank by the banking laws in force in the jurisdiction where such branch is situated, and which, in each case, exercises as its main purpose a true banking activity, having bank personnel, premises, communication devices of its own and authority of decision making, all in accordance with the Swiss Guidelines.
“Swiss Ten Non-Bank Rule” means the rule that the aggregate number of Lenders which are Swiss Non-Qualifying Banks must not at any time exceed 10 (ten), all in accordance with the Swiss Guidelines.
“Swiss Twenty Non-Bank Rule” means the rule that the aggregate number of creditors (including the Lenders, but excluding to the extent permissible as per Art 14a of the Swiss Withholding Tax Ordinance members of the Group), other than Swiss Qualifying Banks, of a Swiss Obligor under all outstanding borrowings (including under the Finance Documents), such as loans, facilities and private placements, made or deemed to be made by such Swiss Obligor must not at any time exceed 20 (twenty), all in accordance with the Swiss Guidelines and being understood that for purposes of this Agreement the maximum number of 10 (ten) Swiss Non-Qualifying Banks permitted under this Agreement shall be taken into account irrespective of whether or not 10 (ten) Swiss Non-Qualifying Banks do so participate at any given time.
“Swiss Withholding Tax” means any taxes imposed under the Swiss Withholding Tax Act (Bundesgesetz über die Verrechnungssteuer). 
“Swiss Withholding Tax Act” means the Swiss Federal Act on the Withholding Tax of 13 October 1965 (Bundesgesetz über die Verrechungsteuer), together with the related ordinances, regulations and guidelines, all as amended and applicable from time to time. 
“Swiss Withholding Tax Ordinance” means the Swiss Federal Ordinance on the Withholding Tax of 19 December 1966 (Verordung über die Verrechungssteuer). 
“Target Day” means a day on which the Trans-European Automated Real-time Gross Settlement Express Transfer System (TARGET2) is operating.

“Taxes” includes all present and future taxes, charges, imposts, duties, levies, deductions, withholdings or fees of any kind whatsoever, or any amount payable on account of or as security for any of the foregoing, by whomsoever on whomsoever and wherever imposed, levied, collected, withheld or assessed, together with any penalties, additions, fines, surcharges or interest relating thereto; and “Tax” and “Taxation” shall be construed accordingly.
“Third Amendment and Restatement Agreement” means the agreement for the third amendment and restatement of this Agreement, dated 2 September 2016.
“Third Effective Date” means the date of the amendment and restatement of this Agreement becoming effective in accordance with the Third Amendment and Restatement Agreement.
“Total Commitment” means the aggregate of the Total Facility A Commitments and the Total Facility B Commitments of the Lenders. 
“Total Facility A Commitments” means the aggregate of the Facility A Commitments, being USD 900,000,000 at the date of this Agreement.
“Total Facility B Commitments” means the aggregate of the Facility B Commitments, being EUR 267,000,000 at the date of this Agreement.
“Total Loan Portfolios” means the Existing Loan Portfolios and the Approved Loan Portfolios.
“Transaction Security” shall have the meaning ascribe to it in Clause 12.1 (Security Documents) 
“Transfer Certificate” means a document substantially in the form set out in Schedule 6, whereby inter alia a person becomes a Party to this Agreement in relation to all existing Parties under this Agreement and all existing Parties, including any subsequent Party, becomes bound in relation to such new acceding Party.
“USD” means the lawful currency of the United States of America. 
“USD Equivalent” means, in relation to an amount in an Optional Currency on the day on which the calculation falls to be made, the amount of USD which could be purchased with that amount of the Optional Currency using the Facility Agent’s spot rate of exchange for the purchase of USD with the Optional Currency at or about 11.00 a.m. on the second Business Day prior to that date.
“Value Added Tax” or ”VAT” means value added tax and any other tax similar or equivalent to value added tax imposed by any country whether, provided for in primary, secondary or purported legislation and whether delegated or otherwise (including, where relevant, any primary or secondary legislation promulgated by the European Community or any official body or agency of the European Community) and any similar to turnover tax replacing or introduced in addition to any of the same.
“Vendor Financing” means any Indebtedness provided by any person in connection with the purchase of an Approved Loan Portfolio or Existing Loan Portfolio, either directly or indirectly, to a Portfolio Owner. 

		
	1.2
	Headings

The headings in this Agreement are for convenience only and shall be ignored in construing this Agreement.
		
	1.3
	Construction

In this Agreement (unless otherwise provided):
		
	a.
	words importing the singular shall include the plural and vice versa;

		
	b.
	references to Clauses and Schedules are to be construed as references to the clauses of, and schedules to, this Agreement;

		
	c.
	references to any provision of law include any amendment of that provision or law;

		
	d.
	references to a “person” shall be construed so as to include that person’s assigns, transferees or successors in title and shall be construed as including references to an individual, firm, partnership, joint venture, company, corporation, body corporate, unincorporated body of persons or any state or any agency of a state;

		
	e.
	accounting terms shall be construed so as to be consistent with the Accounting Principles; 

		
	f.
	references to a “Finance Document” or any other agreement or instrument is a reference to that Finance Document or other agreement or instrument as amended, novated, supplemented, extended or restated from time to time;

		
	g.
	currency codes shall be interpreted as set out in ISO 4217:2008 as amended (www.iso.org); and

		
	h.
	references to time are (unless otherwise stated) to Oslo time.

		
	2.
	THE FACILITIES

		
	1.1
	The Facilities

		
	2.1.1
	Subject to the terms of this Agreement, the Lenders agree to make available to the Borrowers, during the Availability Period, a: 

		
	(a)
	multicurrency revolving credit facility up to an aggregate principal amount not exceeding the equivalent of the Total Facility A Commitments; and

		
	(b)
	EUR term loan facility up to an aggregate principal amount not exceeding the equivalent of the Total Facility B Commitments.

		
	2.1.2.
	Notwithstanding any other term of this Agreement, the aggregate of all Loans shall not, at any time, exceed the Total Commitments, which for the purpose of this calculation shall be reduced by the USD-Equivalent of any Lone Star Equity Commitment.

		
	2.2
	Additional financing

		
	2.2.1
	Bond option 

Subject to the Borrowers being in compliance with the Agreement before and after disbursement of any bond proceeds, the Borrowers has the option to issue a bond loan in the amount up to USD 200,000,000 subject to such bonds being (i) 

issued by the Borrowers or a holding company of the Borrowers or an affiliate thereof, (ii) such bond being contractually subordinated to the amounts outstanding at any time under the Finance Documents, and (iii) the bonds issued on terms acceptable to the Lenders. 
		
	2.2.2
	The Borrowers may by a written request and by providing acceptable documentation to the Agent (with no less favourable terms as set out in this Agreement) request the Overdraft Facility, such Overdraft Facility being secured pursuant to the Security Documents. 

		
	2.3
	Obligations several

		
	2.3.1
	The obligations of each Finance Party under this Agreement are several.

		
	2.3.2
	The failure of a Finance Party to carry out its obligations under this Agreement shall not relieve or effect any other Party of any of its obligations under this Agreement.

		
	2.3.3
	None of the Finance Parties shall be responsible for the obligations of any other Party under this Agreement.

2.4Rights several
		
	2.4.1
	The rights of the Finance Parties under this Agreement are several. All amounts due, and obligations owed, to each of them are separate and independent debts or, as the case may be, obligations.

		
	2.4.2
	A Finance Party may, except as otherwise stated in this Agreement, separately enforce its rights under this Agreement.

		
	2.5
	Obligor’s Agent 

		
	2.5.1
	Each Obligor (other than the Borrowers), by its execution of this Agreement or an Accession Agreement, hereby irrevocably authorises Borrowers to act on its behalf as its agent in relation to the Finance Documents and authorises and appoints the Borrowers, as its attorney, on its behalf, to supply all information concerning itself, its financial condition and otherwise to the Lenders as contemplated under this Agreement and to give all notices and instructions to be given by such Obligor under the Finance Documents, to execute, on its behalf, any Finance Document and to enter into any agreement and amendment in connection with the Finance Documents (however fundamental and notwithstanding any increase in obligations of or other effect on an Obligor and including, for the avoidance of doubt, any further increase of the total commitments under this Agreement as set out in Clause 2.3) including confirmation of guarantee obligations in connection with any amendment or consent in relation to the Facility, without further reference to or the consent of such Obligor and each Obligor to be obliged to confirm such authority in writing upon the request of the Facility Agent. The power hereby conferred is a general power of attorney and the Obligor hereby ratifies and confirms and agrees to ratify and confirm any instrument, act or thing which such attorney may execute or do and to grant as many private and public document (including certificates and notarial powers of attorney duly apostilled) and comply with as many formalities as may be necessary or convenient for this power to be effective under each relevant jurisdiction. In relation to the power referred to herein, the exercise by the Borrowers of such power shall be conclusive evidence of its right to exercise the same. 

		
	2.5.2
	Each Obligor (other than the Borrowers), hereby appoints the Borrowers as its agent for service and hereby authorises each Finance Party to give any notice, demand or other communication to be given to or served on such Obligor pursuant to the Finance Documents to Borrowers on its behalf, and in each such case such Obligor will be bound thereby (and shall be deemed to have notice thereof) as though such Obligor itself had been given such notice and instructions, executed such agreement or received any such notice, demand or other communication.

		
	2.5.3
	Every act, omission, agreement, undertaking, waiver, notice or other communication given or made by Borrowers under this Agreement, or in connection with this Agreement (whether or not known to any Obligor) shall be binding for all purposes on all other Obligors as if the other Obligors had expressly made, given or concurred with the same. In the event of any conflict between any notice or other communication of Borrowers and any other Obligor, the choice of Borrowers shall prevail.

		
	3.
	PURPOSE

		
	3.1
	Purposes of the Facility 

The Borrowers shall apply all amounts borrowed by it under the Facility to;
		
	a.
	refinance the Existing Facilities; 

		
	b.
	financing of Approved Loan Portfolios; and

		
	c.
	general corporate purposes (excluding payment of dividends and other distributions or any other indirect refinancing of acquisition debt).

		
	3.2
	Restrictions

The Borrowers undertakes that it will only utilise the Facility as permitted by Clause 3.1 and no proceeds of any amounts borrowed under any Finance Documents shall be made available, directly or indirectly, to or for the benefit of a Restricted Party nor shall they otherwise be applied in a manner or for a purpose prohibited by Sanctions Laws. 
		
	3.3
	Monitoring

No Finance Party is bound to monitor or verify the application of any amount borrowed pursuant to this Agreement.
		
	4.
	CONDITIONS PRECEDENT

		
	4.1
	Documentary conditions precedent

		
	a.
	The Borrowers may not deliver an Utilisation Request unless the Agent has received all of the documents and other evidence listed in Schedule 3 (Conditions Precedent) in form and substance satisfactory to the Agent. The Agent shall notify the Borrowers and the Lenders promptly upon being so satisfied.

		
	b.
	Other than to the extent that the Majority Lenders notify the Agent in writing to the contrary before the Agent gives the notification described in paragraph (a) above, the Lenders authorise (but do not require) the Agent to give that notification. The Agent shall not be liable for any damages, costs or losses whatsoever as a result of giving any such notification.

		
	4.2
	Further conditions precedent 

		
	4.2.1.
	The obligation of each Lender to make available its Participation in a Loan is subject to the conditions that on the date on which the relevant Drawdown Notice is given and on the relevant Drawdown Date, or Issue Date:

		
	a.
	the representations and warranties in Clause 13 (Representations and warranties) to be repeated pursuant to Clause 13.1.24 (Repetition) on those dates are correct; and

		
	b.
	in the case of a Loan, no Default has occurred and is continuing or would occur on the making of the Loan.

		
	c.
	In the case of a Loan other than a Rollover Loan, the Borrowers providing a Compliance Certificate (no older than 3 weeks) evidencing the compliance with the financial covenants and ratios pursuant to this Agreement pro-forma after the Drawdown of the Loan.

		
	4.2.2.
	The Lenders will only be obliged to comply with Clause 5.8 (Change of Currency) if, on the first day of an Interest Period, no Default is continuing or would result from the change of currency and the Repeating Representations to be made by each Obligor are true in all material respects.

		
	5.
	UTILISATIONS

		
	5.1
	Drawdown under Facility A

		
	5.1.1
	Subject to the other terms of this Agreement, Facility A Loans shall be made to the Borrowers at any time during the Availability Period when requested by the Borrowers by means of a Drawdown Notice in accordance with Clause 5.3 (Drawdown Notice). 

		
	5.1.2
	The following limitations apply to Facility A Loans:

		
	a.
	the Drawdown Date of a Facility A Loan shall be a Business Day during the Availability Period in one drawing for each currency;

		
	b.
	the principal amount of a Facility A Loan denominated in USD or an Optional Currency shall be:

		
	i.
	a minimum Original Base Currency Amount of USD 1,000,000 and an integral multiple of USD 500,000; and

		
	ii.
	in no case more than the amount of the Total Facility A Commitments;

		
	c.
	no Facility A Loan shall be made if the making of that Facility A Loan would result in the aggregate of the Original Base Currency Amount of all Facility A Loans exceeding the Total Facility A Commitment and for the purpose of this calculation any remaining commitment under the Lone Star Equity Commitment shall reduce the amount of Total Facility A Commitment with its USD-Equivalent;

		
	d.
	no Facility A Loan shall be made as long as prepayments are mandatory according to Clause 7.3;

		
	e.
	no more than twenty (20) Facility A Loans may be outstanding at any one time; and

		
	f.
	in the case of a Facility A Loan denominated in an Optional Currency, the requirements of Clause 5.7 (No Optional Currency) are met.

		
	5.2
	Drawdown under Facility B

		
	5.2.1.
	Subject to the other terms of this Agreement, the Facility B Loan shall be made to the Borrowers at any time during the Availability Period when requested by the Borrowers by means of a Drawdown Notice in accordance with Clause 5.3 (Drawdown Notice). 

		
	5.2.2.
	The following limitations apply to Facility B Loan:

		
	a.
	the Drawdown Date of the Facility B Loan shall be a Business Day during the Availability Period in one drawing;

		
	b.
	the principal amount of the Facility B Loan shall be no less than EUR 267,000,000;

		
	c.
	the Facility B Loan shall be drawn in EUR;

		
	d.
	the Interest Period for the Facility B Loan shall be three (3) months;

		
	e.
	no Facility B Loan shall be made as long as prepayments are mandatory according to Clause 7.3 (Mandatory prepayment on Change of Control); and

		
	f.
	no more than one (1) Facility B Loan may be outstanding at any time.

		
	5.3
	Drawdown Notice

		
	5.3.1
	Whenever the Borrowers wish to draw down a Loan, they shall give a duly completed Drawdown Notice to the Facility Agent to be received not later than 10.00 a.m. on the third Business Day before the relevant Drawdown Date (or such later time as the Lenders may agree).

		
	5.3.2
	A Drawdown Notice shall be irrevocable and the Borrowers shall be obliged to borrow in accordance with its terms.

		
	5.3.3
	The Facility Agent shall promptly notify each Lender of the details of each Drawdown Notice received by it.

		
	5.4
	Participations

Subject to the terms of this Agreement, each Lender acting through its lending office shall make available to the Facility Agent on the Drawdown Date for a Loan an amount equal to its Participation in the amount specified in the Drawdown Notice for that Loan.
		
	5.5
	Availability

The Borrowers may not request a Loan to be denominated in an Optional Currency unless the Facility Agent has confirmed to the Borrowers that the Optional Currency is available for drawing under the relevant Facility.
		
	5.6
	Notification to Lenders

The Facility Agent shall promptly notify each Lender of the currency and the Original Base Currency Amount of each Loan.
		
	5.7
	No Optional Currency

		
	5.7.1
	If, no later than 9.00 a.m. on the second Business Day before the first day of an Interest Period in relation to a Loan which is proposed to be denominated in an Optional Currency, a Lender notifies the Facility Agent that:

		
	a.
	in that Lender’s reasonable opinion, it is impracticable for that Lender to fund its Participation in that Loan in the proposed Optional Currency in the ordinary course of business in the relevant interbank market; or

		
	b.
	Central Bank or other governmental authorisation in the country of the proposed Optional Currency is required to permit its use by that Lender for the making of that Loan and the authorisation has not been obtained or is not in full force and effect or is subject to unacceptable conditions; or

		
	c.
	the use of the proposed Optional Currency is restricted or prohibited by any request, directive, regulation or guideline of any governmental body, agency, department or regulatory or other authority (whether or not having the force of law) in accordance with which that Lender is accustomed to act,

the Facility Agent shall notify the Borrowers and the Lenders by 10.00 a.m. on the same day. In this event, the Borrowers and the Lenders may agree that the Loan shall not be made, provided that, in the absence of such agreement by 11.00 a.m. on the same day, the Loan shall be denominated in USD during that Interest Period.
		
	5.8
	Change of Currency

A Loan which is denominated in a currency may not be denominated in different currencies.
		
	5.9
	Cancellation of Commitment

The Total Facility B Commitments which, at that time, are unutilised shall be immediately cancelled at the end of the Availability Period for Facility B.
		
	6.
	INTEREST

		
	6.1
	Interest rate

Interest shall accrue on each Loan from and including the relevant Drawdown Date to but excluding the date the Loan is repaid at the rate determined by the Facility Agent to be the aggregate of:
		
	a.
	the Applicable Margin; and

		
	b.
	IBOR.

		
	6.2
	Interest Periods

		
	6.2.1
	Interest payable on each Loan shall be calculated by reference to Interest Periods of one (1), two (2), three (3) or six (6) months duration (or such other Interest Period as the Facility Agent, acting on the instructions of all the Lenders, may agree) as selected by the Borrowers in accordance with this Clause 6.2, however the Interest Period for the Facility B Loan shall be three (3) months. The Borrowers may not select more than ten (10) Interest Periods with a tenor of one (1) Month during any calendar year. If an Interest Period would extend beyond six (6) months then interest shall be payable every six (6) months. The Facility Agent may require shorter Interest Periods to be elected if this would facilitate the syndication of the Facility.

		
	6.2.2
	The Borrowers shall select an Interest Period for a Loan in the relevant Drawdown Notice or (in the case of any subsequent Interest Period for that Loan) by notice received by the Facility Agent no later than three (3) Business Days before the commencement of that Interest Period.

		
	6.2.3
	If the Borrowers fail to select an Interest Period for a Loan in accordance with Clause 6.2.2, that Interest Period shall, subject to the other provisions of this Clause 6, be three (3) months.

		
	6.2.4
	If an Interest Period would otherwise end on a day which is not a Business Day, that Interest Period shall instead end on the next Business Day in the same calendar month (if there is one) or the preceding Business Day (if there is not).

		
	6.2.5
	If an Interest Period begins on the last Business Day in a calendar month or on a Business Day for which there is no numerically corresponding day in the calendar month in which that Interest Period is to end, it shall end on the last Business Day in that later calendar month.

		
	6.2.6
	If an Interest Period for a Loan would otherwise extend beyond the Final Repayment Date under which such Loan is made, it shall be shortened so that it ends on the Final Repayment Date. 

		
	6.3
	Default interest

		
	6.3.1
	If an Obligor fails to pay any amount payable under any Finance Document on the due date, it shall pay default interest on the overdue amount from the due date to the date of actual payment calculated by reference to successive Interest Periods (each of such duration as the Facility Agent may select and the first beginning on the relevant due date) at the rate per annum being the aggregate of (a) two (2) per cent per annum, (b) the Applicable Margin, and (c) the higher of either (i) IBOR, or (ii) the Lender’s funding costs. Default interest is payable on demand.

		
	6.3.2
	So long as the overdue amount remains unpaid, the default interest rate shall be recalculated in accordance with the provisions of this Clause 6.3 on the last day of each such Interest Period and any unpaid interest shall be compounded at the end of each Interest Period.

		
	6.4
	Calculation and payment of interest

		
	6.4.1
	At the beginning of each Interest Period, subject to clause 6.5 (Determination of Applicable Margin), the Facility Agent shall notify the Lenders and the relevant Obligor of the duration of the Interest Period and the rate and amount of interest payable for the Interest Period (but in the case of any default interest calculated under Clause 6.3 (Default interest), any such notification need not be made more frequently than weekly). Each notification shall set out in reasonable detail the basis of computation of the amount of interest payable. 

		
	6.4.2
	Interest due from an Obligor under this Agreement shall:

		
	a.
	accrue from day to day at the rate calculated under this Clause 6;

		
	b.
	except as otherwise provided in this Agreement, be paid by the relevant Obligor to the Facility Agent (for the account of the Lenders or the Facility Agent, as the case may be) in arrears on the last day of each Interest Period, provided that for any Interest Period which is longer than three (3) months, the relevant Obligor shall also pay interest every (three) 3 months in arrears during that Interest Period; and

		
	c.
	be calculated on the basis of the actual number of days elapsed and a 360 day year (a 365 day year for GBP) or, if different, such number of days as is market practice.

		
	6.5
	Determination of Applicable Margin

		
	6.5.1
	Any adjustment of the Applicable Margin to be effective within five (5) Business Days after the delivery of the Compliance Certificate evidencing the LTV Ratio. 

		
	6.5.2
	Upon the date of utilisation of the Facility for the financing of the Belfast Portfolio the Applicable Margin shall be recalculated with reference to a Compliance Certificate not more than six weeks old delivered on that date, adjusted on a pro-forma basis to take into account the acquisition of the Belfast Portfolio. Such recalculated Applicable Margin shall apply until the next determination of Applicable Margin pursuant to clause 6.2.1 above.

		
	6.5.3
	In the event that the Borrower fails to deliver a Compliance Certificate on time the Interest shall: (i) when the overdue Compliance Certificate is delivered, be recalculated for the period from the latest date on which the Compliance Certificate should have been delivered, based on the Applicable Margin determined with reference to that Compliance Certificate, or (ii) if no Compliance Certificate is delivered before the next Compliance Certificate is due for delivery, be recalculated based on the highest Applicable Margin, for that period. To the extent any Interest has already been paid by the Borrower for any part of the period for which Interest is recalculated, the Borrower shall not be entitled to receive any reimbursement of Interest paid in excess of the recalculated interest.

		
	6.6
	Minimum interest

		
	6.6.1
	When entering into this Agreement, the Parties have assumed that the interest payable under this Agreement is not and will not become subject to any tax deduction on account of Swiss Withholding Tax.

		
	6.6.2
	Notwithstanding Clause 6.6.1, if a tax deduction is required by law in respect of any sum payable by a Swiss Obligor under a Finance Document and should it be unlawful for such Swiss Obligor to comply with Clauses 10.2 (Taxes) and 19.9 (Grossing-up) for any reason (where this would otherwise be required by the terms of Clauses 10.2 (Taxes) and 19.9 (Grossing-up)) then:

		
	a.
	    the applicable interest rate in relation to that payment shall be the rate which would have applied to that payment as provided for by Clause 6.1 divided by 1 minus the rate at which the relevant tax deduction is required to be made under Swiss domestic tax law and/or applicable double taxation treaties (where the rate at which the relevant tax deduction is required to be made is for this purpose expressed as a fraction of 1); and

		
	b.
	    that Swiss Obligor shall:

		
	i.
	pay the relevant sum at the adjusted rate in accordance with paragraph (a) above;

		
	ii.
	make the tax deduction on the amount so recalculated; and

all references to a rate of interest under the Finance Documents shall be construed accordingly.

		
	6.6.3
	To the extent that a sum payable by a Swiss Obligor under a Finance Document becomes subject to Swiss Withholding Tax, each relevant Lender and each relevant Swiss Obligor shall promptly cooperate in completing any procedural formalities (including submitting forms and documents required by the appropriate tax authority) to the extent possible and necessary (i) for the Swiss Obligor to obtain authorisation to make such payments without them being subject to Swiss Withholding Tax and (ii) to ensure that any person which is entitled to a full or partial refund under any applicable double taxation treaty is so refunded.

		
	6.7
	Facility Agent’s determination

The determination by the Facility Agent of any interest or commission payable under this Clause 6 shall be conclusive and binding on the Obligors except for any manifest error.
		
	7.
	REDUCTION, REPAYMENT, PREPAYMENT AND CANCELLATION

		
	7.1
	Repayment of Facility A Loans

		
	7.1.1
	Subject to Clause 7.1.3 and 7.1.4, each Facility A Loan shall be repaid in full on the Interest Date of the Interest Period relating to that Facility A Loan.

		
	7.1.2
	Subject to the terms of this Agreement, any amounts repaid under Clause 7.1.1 may be re-borrowed.

		
	7.1.3
	If all or part of a Facility A Loan is to be repaid from the proceeds of all or part of a new Facility A Loan to be made to the Borrowers then, as between each Lender and the Borrowers, the amount to be repaid by the Borrowers shall be set off against the amount to be advanced by that Lender in relation to the new Facility A Loan and the party to whom the smaller amount is to be paid shall pay to the other party a sum equal to the difference between the two amounts (in the currency of the outstanding Facility A Loan for the first Interest Period).

		
	7.1.4
	Subject to any terms of this Agreement expressly providing otherwise, the Borrowers may not prepay any Facility A Loan before the end of its Interest Period. On the Final Repayment Date the Borrowers shall repay any Facility A Loan then outstanding under this Agreement in full, together with all other sums due and outstanding under the Finance Documents at such date (if any).

		
	7.2
	Repayment of Facility B Loan

The Borrower shall repay the Facility B Loan in full on the Final Repayment Date. 
		
	7.3
	Mandatory prepayment on Change of Control 

		
	7.3.1
	Unless otherwise agreed by the Facility Agent (acting on the instructions of the Majority Lenders), ninety (90) days from the date a Change of Control occurs (a “Prepayment Date”):

		
	a.
	all Loans together with all incurred interest and all other amounts owing to under this Agreement shall be repaid in full; and

		
	b.
	the Lenders’ obligations shall be terminated and each Lender’s Commitments shall be cancelled.

		
	7.3.2
	For the purposes of this Agreement a “Change of Control” will occur if the Parent ceases to control directly or indirectly 2/3 of the voting rights of the Borrowers.

		
	7.3.3
	The Borrowers shall give the Facility Agent prompt notice when it becomes aware of a Change of Control or a proposed Change of Control.

		
	7.4
	Mandatory prepayment - Disposal 

Upon a Disposal of whole or part of an Existing Loan Portfolio or Approved Loan Portfolio (directly or indirectly through a sale of a Portfolio Owner or otherwise) the Borrowers shall no later than five (5) Business Days prior to such Disposal document to the Facility Agent’s satisfaction that the Group will be in compliance with the LTV Ratio immediately after such Disposal. 
		
	7.5
	Application of prepayments

Each mandatory prepayment shall be applied in pro rata in order of maturity. 
		
	7.6
	Voluntary prepayment of Loans

		
	7.6.1
	The Borrowers may, by giving the Facility Agent not less than five (5) Business Days’ prior notice, prepay the whole or part (but if in part, in a minimum amount of USD 1,000,000 and an integral multiple of USD 1,000,000 or such whole amount as, the Facility Agent may agree) of any Loan, however so that the Facility B Loan cannot be prepaid before all Facility A Loans have been prepaid and the Total Facility A Commitments have been cancelled in full.

		
	7.6.2
	Any notice of prepayment shall be irrevocable, shall specify the date on which the prepayment is to be made and the amount of the prepayment, and shall oblige the Borrowers to make that prepayment. The Facility Agent shall promptly notify the Lenders of receipt of any such notice.

		
	7.7
	Prepayment and breakage costs

		
	7.1.1
	Any prepayment shall be made together with accrued interest on the amount prepaid and any amounts payable under Clause 24.1 (Breakage costs indemnity).

		
	7.8
	Voluntary cancellation of Facility

		
	7.8.1
	The Borrowers may, by giving the Facility Agent not less than five (5) days’ prior notice, cancel all or part of the Total Commitment (but if in part, in a minimum amount of USD 1,000,000 and an integral multiple of USD 1,000,000) however so that the Total Facility B Commitments cannot be cancelled before the Total Facility A Commitments have been cancelled in full.

		
	7.8.2
	Any notice of cancellation shall be irrevocable and shall specify the date on which the cancellation shall take effect and the amount of the cancellation. The Facility Agent shall promptly notify the Lenders of receipt of any such notice.

		
	7.8.3
	The Borrowers may not utilise any part of the Facility which has been cancelled. Any cancellation of the Facility shall reduce each Lender’s Commitment rateably and shall reduce the Facility by the aggregate amount so cancelled.

		
	8.
	CHANGES IN CIRCUMSTANCES

		
	8.1
	Illegality

		
	8.1.1
	If it is or becomes illegal (including under any Sanctions Law) for a Lender to maintain all or part of its Commitment or to continue to make available or fund or maintain its Participation in all or any part of the Facility, then:

		
	a.
	that Lender shall notify the Facility Agent and Borrowers;

		
	b.
	the Commitment of that Lender shall be cancelled immediately; and

		
	c.
	the Obligors shall prepay to the Facility Agent (for the account of that Lender) that Lender’s Participation in all Loans (together with accrued interest on the amount prepaid and all other amounts owing to that Lender under 

this Agreement) within fifteen (15) Business Days of demand by that Lender (or, if permitted by the relevant law, on the last day of the Interest Period of the relevant Loans); 
Any such prepayment shall be subject to Clause 24.1 (Breakage costs indemnity).
		
	8.2
	Increased Costs

		
	8.2.1
	If a Change occurs which causes an Increased Cost (as defined in Clause 8.2.3) to a Lender (or any company of which that Lender is a Subsidiary) then each Obligor shall pay (as additional interest) to the Facility Agent (for the account of that Lender) within ten (10) Business Days of demand all amounts which that Lender certifies to be necessary to compensate that Lender (or any company of which that Lender is a Subsidiary) for the Increased Cost.

		
	8.2.2
	Any demand made under Clause 8.2.1 shall be made by the relevant Lender through the Facility Agent and shall set out in reasonable detail so far as is practicable the basis of computation of the Increased Cost.

		
	8.2.3
	In this Clause 8.2:

“Increased Cost” means any cost to, or reduction in the amount payable to, or reduction in the return on capital or regulatory capital achieved by, a Lender (or any company of which that Lender is a Subsidiary) to the extent that it arises, directly or indirectly, as a result of the Change and is attributable to the Commitment of that Lender or its Participation in the Facility or the funding of that Lender’s Participation in any Loan including but not limited to:
		
	a.
	any Tax Liability (other than Tax on Overall Net Income) incurred by that Lender;

		
	b.
	any changes in the basis or timing of Taxation of that Lender in relation to its Commitment or Participation in the Facility or to the funding of that Lender’s Participation in any Loan;

		
	c.
	the cost to that Lender (or any company of which that Lender is a Subsidiary) of complying with, or the reduction in the amount payable to or reduction in the return on capital or regulatory capital achieved by that Lender (or any company of which that Lender is a Subsidiary) as a result of complying with, any capital adequacy or similar requirements howsoever arising, including as a result of an increase in the amount of capital to be allocated to the Facility or of a change to the weighting of that Lender’s Commitment or Participation in that Facility;

		
	d.
	the cost to that Lender of complying with any reserve, cash ratio, special deposit or liquidity requirements (or any other similar requirements); and

		
	e.
	the amount of any fees payable by that Lender to any supervisory or regulatory authority.

“Tax Liability” means inter alia, in respect of any person:
		
	a.
	any liability or any increase in the liability of that person to make any payment of or in respect of Tax;

		
	b.
	the loss of any relief, allowance, deduction or credit in respect of Tax which would otherwise have been available to that person;

		
	c.
	the setting off against income, profits or gains or against any Tax liability of any relief, allowance, deduction or credit in respect of Tax which would otherwise have been available to that person; and

		
	d.
	the loss or setting off against any Tax liability of a right to repayment of Tax which would otherwise have been available to that person.

For the purposes of this definition of “Tax Liability”, any question of whether or not any relief, allowance, deduction, credit or right to repayment of Tax has been lost or set off, and if so, the date on which that loss or set off took place, shall be conclusively determined by the relevant person.
“Tax on Overall Net Income” means, in relation to a Lender, Tax (other than Tax deducted or withheld from any payment) imposed on the net profits of that Lender or its lending office by the jurisdiction in which its lending office or its head office is situated.
		
	8.2.4
	The Obligors shall not be obliged to make a payment in respect of an Increased Cost under this Clause 8.2 if and to the extent that the Increased Cost has been compensated for by the operation of Clause 19.9 (Grossing-up) or the cost is attributable to a FATCA Deduction required to be made by an Obligor or a Finance Party.

		
	8.2.5
	If the Obligors are required to pay any amount to a Lender under this Clause 8.2, then, without prejudice to that obligation and so long as the circumstances giving rise to the relevant Increased Cost are continuing and subject to the Borrowers giving the Facility Agent and that Lender not less than 10 days’ prior notice (which shall be irrevocable), the Obligors may prepay all, but not part, of that Lender’s Participation in the Loans together with accrued interest on the amount prepaid. Any such prepayment shall be subject to Clause 24.1 (Breakage costs indemnity). On any such prepayment the Commitment of the relevant Lender shall be automatically cancelled.

		
	8.3
	Market disruption

		
	8.3.1
	If, in relation to a Loan and a particular Interest Period:

		
	a.
	at or about noon on the second Business Days prior to the relevant Interest Period,  the Screen Rate is not available and none or only one of the Reference Banks supplies a rate to the Facility Agent to determine the relevant IBOR for the relevant currency and Interest Period; or

		
	b.
	the Facility Agent has been notified by a group of Lenders, who together exceed 40 per cent of the Total Commitments, that in their opinion:

		
	i.
	matching deposits would not be available to them in the relevant interbank market in the ordinary course of business to fund their Participations in that Loan for that Interest Period; or

		
	ii.
	the cost to them of obtaining matching deposits in the relevant interbank market would be in excess of IBOR for that Interest Period,

the Facility Agent shall promptly notify the Borrowers and the Lenders of that event (such notice being a “Market Disruption Notice”).

		
	8.3.2
	If a Market Disruption Notice applies to a proposed Loan, that Loan shall not be made. Instead, the Facility Agent and the Borrowers shall immediately enter into negotiations for a period of not more than 30 days with a view to agreeing a substitute basis for calculating the interest rate for the Loan or for funding the Loan. Any substitute basis agreed by the Facility Agent (with the consent of all the Lenders) and the Borrowers shall take effect in accordance with its terms and be binding on all the Parties.

		
	8.3.3
	If a Market Disruption Notice applies to an outstanding Loan then:

		
	a.
	the Facility Agent and the Borrowers shall immediately enter into negotiations for a period of not more than 30 days with a view to agreeing a substitute basis for calculating the rate of interest for the Loan or for funding the Loan;

		
	b.
	any substitute basis agreed under Clause 8.3.3(a) by the Facility Agent (with the consent of all the Lenders) and the Borrowers shall take effect in accordance with its terms and be binding on all the Parties;

		
	c.
	if no substitute basis is agreed under Clause 8.3.3(a), then, subject to Clause 8.3.4, each Lender shall (through the Facility Agent) certify before the last day of the Interest Period to which the Market Disruption Notice relates a substitute basis for maintaining its Participation in the Loan which shall reflect the cost to the Lender of funding its Participation in the Loan from whatever sources it selects plus the Applicable Margin; and

		
	d.
	each substitute basis so certified shall be binding on the relevant Obligor and the certifying Lender and treated as part of this Agreement.

		
	8.3.4
	If no substitute basis is agreed under Clause 8.3.3(a), then, so long as the circumstances giving rise to the Market Disruption Notice continue and subject to the Borrowers giving the Facility Agent and the Lenders not less than ten (10) days’ prior notice (which shall be irrevocable), the relevant Obligor may prepay the Loan to which the Market Disruption Notice applies together with accrued interest on the amount prepaid. Any such prepayment shall be subject to Clause 24.1 (Breakage costs indemnity).

		
	8.4
	Mitigation

		
	8.4.1
	If any circumstances arise in respect of any Lender which would, or upon the giving of notice would, result in the operation of Clause 19.9 (Grossing-up),6.6 (Minimum interest), 8.1 (Illegality), 8.2 (Increased Costs) or 8.3 (Market disruption) to the detriment of any Obligor, then that Lender shall:

		
	a.
	promptly upon becoming aware of those circumstances and their results, notify the Facility Agent and the Borrowers; and

		
	b.
	in consultation with the Facility Agent and the Borrowers, take all such steps as are reasonably open to it to mitigate the effects of those circumstances (including changing its lending office in a manner which will avoid the circumstances in question and on terms acceptable to the Facility Agent, the Borrowers and that Lender),

provided that no Lender shall be obliged to take any steps which in its opinion would be likely to have an adverse effect on its business or financial condition or the management of its Tax affairs or cause it to incur any material costs or expenses without being reimbursed therefor.

		
	8.4.2
	Nothing in this Clause 8.4 shall limit, reduce, affect or otherwise qualify the rights of any Lender or the obligations of the Obligors under Clauses 19.9 (Grossing-up), 6.6 (Minimum interest), 8.1 (Illegality), 8.2 (Increased Costs) or 8.3 (Market disruption).

		
	8.5
	Certificates

The certificate or notification of the Facility Agent or, as the case may be, the relevant Lender as to any of the matters referred to in this Clause 8 shall be in reasonable detail and shall be conclusive and binding on the Obligors except for any manifest error.
		
	9.
	FEES AND EXPENSES

		
	9.1
	Expenses

The Borrowers shall on demand (including a specification) pay all evidenced expenses properly incurred (including legal fees, valuation and accounting fees and other out-of-pocket expenses, but only to the extent the same are reasonable in amount), and any VAT (direct or by reverse charge) on those expenses incurred:
		
	a.
	by the Bookrunner in connection with the negotiation, preparation, syndication and execution of the Finance Documents and the other documents contemplated by the Finance Documents;

		
	b.
	by an Agent in connection with the taking of any security in accordance with Clause 11.10.4(a) (Security);

		
	c.
	by an Agent or the Lenders in connection with the granting of any release, waiver or consent or in connection with any amendment or variation of any Finance Document; 

		
	d.
	by an Agent or the Lenders in enforcing, perfecting, protecting or preserving (or attempting so to do) any of their rights, or in suing for or recovering any sum due from an Obligor or any other person under any Finance Document, or in investigating any Default or Potential Default; 

		
	e.
	by an Agent in connection with any cost of engaging any person in connection with any due diligence process to be performed pursuant to the terms of this Agreement; 

		
	f.
	any default by any Obligor in the performance of any of the obligations expressed to be assumed by it in the Finance Documents; and

		
	g.
	by an Agent in connection with any cost of engaging an Auditor pursuant to the terms of this Agreement. 

		
	9.2
	Fees

The Borrowers shall pay the fees as set out in the Fee Letter(s).
		
	9.3
	Indemnity payments

Where in any Finance Document an Obligor has an obligation to indemnify or reimburse an Agent, the Bookrunner or a Lender in respect of any loss or payment, the calculation of the amount payable by way of indemnity or reimbursement shall take account of the Tax treatment in the hands of the Agent, the Bookrunner or the relevant Lender, as the case may be, (as conclusively determined by the relevant party) of the amount payable by way

 of indemnity or reimbursement and of the loss or payment in respect of which that amount is payable.
		
	10.
	Taxes And tax Indemnities

		
	10.1
	Definitions

In this Agreement:
“Protected Party” means a Finance Party which is or will be subject to any liability or required to make any payment for or on account of Tax in relation to a sum received or receivable (or any sum deemed for the purposes of Tax to be received or receivable) under a Finance Document.
“Tax Credit” means a credit against, relief or remission for, or repayment of, any Tax.
“Tax Deduction” means a deduction or withholding for or on account of Tax from a payment under a Finance Document, other than a FATCA Deduction.
“Tax Payment” means either the increase in a payment made by an Obligor to a Finance Party under Clause 6.6 (Minimum interest) Clause 10.2 (Taxes) or a payment under Clause 10.3 (Tax indemnity).
		
	10.2
	Taxes

		
	a.
	All payments by an Obligor under the Finance Documents shall be made free and clear of and without deduction or withholding for or on account of any Tax or any other governmental or public payment imposed by the laws of any jurisdiction from which or through which such payment is made, unless a Tax deduction or withholding is required by law. 

		
	b.
	Any Obligor shall promptly upon becoming aware that it must make a Tax deduction or withholding (or that there is any change in the rate or the basis of a Tax deduction or withholding) notify the Agent accordingly. Similarly, a Lender shall notify the Agent on becoming so aware in respect of a payment payable to that Lender. If the Agent receives such notification from a Lender it shall notify the relevant Obligor.

		
	c.
	If a Tax deduction or withholding is required by law to be made by an Obligor:

		
	i.
	the amount of the payment due from that Obligor shall be increased to an amount which (after making any Tax deduction or withholding) leaves an amount equal to the payment which would have been due if no Tax deduction or withholding had been required (tax gross-up); and

		
	ii.
	the Obligor shall make that Tax deduction or withholding within the time allowed and in the minimum amount required by law. 

		
	d.
	Within thirty (30) days of making either a Tax deduction or withholding or any payment required in connection with that Tax deduction or withholding, the Borrowers shall deliver to the Agent for the Finance Party entitled to the payment evidence reasonably satisfactory to that Finance Party that the Tax deduction or 

withholding has been made or (as applicable) any appropriate payment paid to the relevant taxing authority.
		
	10.3
	Tax indemnity

		
	a.
	The Borrowers shall (within three Business Days of demand by the Agent) pay to a Protected Party an amount equal to the loss, liability or cost which that Protected Party determines will be or has been (directly or indirectly) suffered for or on account of Tax by that Protected Party in respect of a Finance Document.

		
	b.
	Paragraph (a) above shall not apply:

		
	i.
	with respect to any Tax assessed on a Finance Party:

		
	a.
	under the law of the jurisdiction in which that Finance Party is incorporated or, if different, the jurisdiction (or jurisdictions) in which that Finance Party is treated as resident for tax purposes; or

		
	b.
	under the law of the jurisdiction in which that Finance Party’s Facility Office is located in respect of amounts received or receivable in that jurisdiction,

if that Tax is imposed on or calculated by reference to the net income received or receivable (but not any sum deemed to be received or receivable) by that Finance Party; or
		
	ii.
	to the extent a loss, liability or cost is compensated for by an increased payment under Clause 6.6 (Minimum interest), Clause 10.2 (Taxes) or relates to a FATCA Deduction required to be made by a Party

		
	c.
	A Protected Party making, or intending to make a claim under paragraph (a) above shall promptly notify the Agent of the event which will give, or has given, rise to the claim, following which the Agent shall notify the Borrowers.

		
	d.
	A Protected Party shall, on receiving a payment from an Obligor under this Clause 10.3, notify the Agent.

		
	10.4
	Tax Credit

If an Obligor makes a Tax Payment and the relevant Finance Party determines that:
		
	a.
	a Tax Credit is attributable either to an increased payment of which that Tax Payment forms part or to that Tax Payment; and

		
	b.
	that Finance Party has effectively and definitively obtained, utilised and retained that Tax Credit,

the Finance Party shall pay an amount to the Obligor which that Finance Party determines will leave it (after that payment) in the same after-Tax position as it would have been in had the Tax Payment not been required to be made by the Obligor. Nothing in this clause shall interfere with the corresponding Finance Party’s right to arrange its tax affairs in whatever manner it thinks fit. 

		
	10.5
	Stamp taxes

The Parent shall pay and, within three Business Days of demand, indemnify each Secured Party and Arranger against any cost, loss or liability that Secured Party or Arranger incurs in relation to all transfer tax, stamp duty, judicial duties, registration and other similar Taxes payable in respect of the formalisation, execution, performance or enforcement of any Finance Document.
		
	10.6
	VAT

		
	a.
	All amounts set out, or expressed to be payable under a Finance Document shall be deemed to be exclusive of any VAT. If VAT is chargeable, the relevant Obligor shall pay to the Agent for the account of such Finance Party (in addition to the amount required pursuant to the Finance Documents) an amount equal to such VAT.

		
	b.
	Where a Finance Document requires any Party to reimburse or indemnify a Finance Party for any cost or expense, that Party shall reimburse or indemnify (as the case may be) such Finance Party for the full amount of such cost or expense, including such part thereof as represents VAT, save to the extent that such Finance Party reasonably determines that it is entitled to credit or repayment in respect of such VAT from the relevant tax authority.

		
	c.
	Any relation to any supply made by a Finance Party to any other Party under a Finance Document, as requested by such Finance Party, that Party must promptly provide such Finance Party with details of that Party’s VAT registration and such other information as is reasonably requested in connection with such Finance Party’s VAT reporting requirements in relation to such supply. 

		
	d.
	Any reference in this Clause 10.6 to any Party shall, at any time when such Party is treated as a member of a group for VAT purposes, include (where appropriate and unless the context requires otherwise) a reference to the person who is treated as that time as making the supply, or (as appropriate) receiving the supply, under the grouping rules (provided for in Article 11 of Council Directive 2006/112/EC (or as implemented by the relevant member state of the European Union) so that a reference to a Party shall be construed as a reference to that Party or the relevant group or entity (or fiscal unity) of which that Party is a member for VAT purposes at the relevant time or the relevant representative member (or representative or head) of that group or entity at the relevant time (as the case may be). 

		
	10.7
	FATCA Information

		
	a.
	Subject to paragraph (c) below, each Party shall, within ten (10) Business Days of a reasonable request by another Party:

		
	i.
	confirm to that other Party whether it is:

		
	a.
	a FATCA Exempt Party; or

		
	b.
	not a FATCA Exempt Party; 

		
	ii.
	supply to that other Party such forms, documentation and other information relating to its status under FATCA as that other Party reasonably requests for the purposes of that other Party’s compliance with FATCA.

		
	iii.
	supply to that other Party such forms, documentation and other information relating to its status as that other Party reasonably requests for the purposes of that other Party’s compliance with any other law, regulation, or exchange of information regime. 

		
	b.
	If a Party confirms to another Party pursuant to 10.7 (i) above that it is a FATCA Exempt Party and it subsequently becomes aware that it is not, or has ceased to be a FATCA Exempt Party, that Party shall notify that other Party reasonably promptly.

		
	c.
	Paragraph (a) above shall not oblige any Finance Party to do anything, and paragraph (a)(iii) above shall not oblige any other Party to do anything, which would or might in its reasonable opinion constitute a breach of:

		
	i.
	any law or regulation;

		
	ii.
	any fiduciary duty; or

		
	iii.
	any duty of confidentiality. 

		
	d.
	If a Party fails to confirm whether or not it is a FATCA Exempt Party or to supply forms, documentation or other information requested in accordance with paragraph (a)(i) or (ii) above (including, for the avoidance of doubt, where paragraph (c) above applies), then such Party shall be treated for the purposes of the Finance Documents (and payments under them) as if it is not a FATCA Exempt Party until such time as the Party in question provides the requested confirmation, forms, documentation or other information.

		
	10.8
	FATCA Deduction 

		
	a.
	Each Party may make any FATCA Deduction it is required to make by FATCA, and any payment required in connection with that FATCA Deduction, and no Party shall be required to increase any payment in respect of which it makes such a FATCA Deduction or otherwise compensate the recipient of the payment for that FATCA Deduction.

		
	b.
	Each Party shall promptly, upon becoming aware that it must make a FATCA Deduction (or that there is any change in the rate or the basis of such FATCA Deduction), notify the Party to whom it is making the payment and, in addition, shall notify the Company and the Agent and the Agent shall notify the other Finance Parties.

		
	10.9
	Other indemnities

The Borrowers shall (or shall procure that an Obligor will), within three Business Days of demand, indemnify each Finance Party against any cost, loss or liability incurred by that Finance Party as a result of:
		
	a.
	the occurrence of any Default;

		
	b.
	a failure by an Obligor to pay any amount due under a Finance Document on its due date, including without limitation, any cost, loss or liability arising as a result of Clause 17;

		
	c.
	funding, or making arrangements to fund, its participation in a Loan requested by a Borrower (or the Parent on its behalf) in a Utilisation Request but not made by reason of the operation of any one or more of the provisions of this Agreement (other than by reason of default or negligence by that Finance Party alone);

		
	d.
	any claim, action, civil penalty or fine against, any settlement, and any other kind of loss or liability, and all reasonable costs and expenses under any Finance Documents (including reasonable counsel fees and disbursements) incurred by the Agent or any Finance Party as a result of conduct of any Obligor or any of their partners, directors, officers or employees, that violates any Sanctions Laws; or

		
	e.
	a Loan (or part of a Loan) not being prepaid in accordance with a notice of prepayment given by a Borrower.

		
	11.
	ON DEMAND GUARANTEE AND INDEMNITY

		
	11.1
	Guarantee and indemnity

Each Guarantor hereby irrevocably and unconditionally jointly and severally, but subject to any limitations set out in Clause 11.10 (Limitations) or any equivalent limitations set out in any Accession Agreement by which such Guarantor became party hereto;
		
	a.
	guarantees to each Finance Party, as and for its own debt as principal obligor and not merely as a surety, punctual performance by each Obligor of all that Obligor’s obligations under the Finance Documents;

		
	b.
	undertakes with each Finance Party that whenever another Obligor does not pay any amount when due under or in connection with any Finance Document, that Guarantor shall immediately on demand pay that amount as if it was the principal obligor; and

		
	c.
	undertakes to indemnify each Finance Party it will, as an independent and primary obligation, on the Facility Agent’s first demand against any cost, loss, expense, damage or liability suffered by that Finance Party if any obligation guaranteed by it is or becomes unenforceable, invalid or illegal. The amount of the cost, loss or liability shall be equal to the amount which that Finance Party would otherwise have been entitled to recover.

A statement in writing by the Agent setting out the amount due and payable hereunder is binding and conclusive evidence against the Guarantor as to the obligation to pay such amount subject to the maximum amount stated in paragraph (b) above.
		
	11.2
	Continuing guarantee

This guarantee is a continuing guarantee and will extend to ultimate balance of sums payable by any Obligor under the Finance Documents, regardless of any intermediate payment or discharge in whole or in part.
		
	11.3
	Number of claims

There is no limit on the number of claims that may be made by the Agent (on behalf of the Finance Parties) under this Agreement.

		
	11.4
	Reinstatement

If any payment by an Obligor or any discharge given by a Finance Party (whether in respect of the obligations of any Obligor or any security for those obligations or otherwise) is avoided or reduced as a result of insolvency or any similar event:
		
	a.
	the liability of each Obligor shall continue as if the payment, discharge, avoidance or reduction had not occurred; and

		
	b.
	each Finance Party shall be entitled to recover the value or amount of that security or payment from each Obligor, as if the payment, discharge, avoidance or reduction had not occurred.

		
	11.5
	Waiver of defences

The obligations of each Guarantor under this Clause 10 will not be affected by any act, omission, matter or thing which would reduce, release or prejudice any of its obligations under this Clause 10 (without limitation and whether or not known to it or any Finance Party) including but not limited to:
		
	a.
	any time, waiver or consent granted to, or composition with, any Obligor or other person;

		
	b.
	the release of any other Obligor or any other person under the terms of any composition or arrangement with any creditor of any member of the Group, including for the avoidance of doubt the liquidation of the Dormant Companies as set out in Clause 13.3.12 (b) and the increase of the Total Commitment in accordance with Clause 2.3;

		
	c.
	the taking, variation, compromise, exchange, renewal or release of, or refusal or neglect to perfect, take up or enforce, any rights against, or security over assets of, any Obligor or other person or any non-presentation or non-observance of any formality or other requirement in respect of any instrument or any failure to realise the full value of any security;

		
	d.
	any incapacity or lack of power, authority or legal personality of or dissolution or change in the members or status of an Obligor or any other person;

		
	e.
	any amendment (however fundamental) or replacement of a Finance Document or any other document or security, including for the avoidance of doubt the liquidation of the Dormant Companies as set out in Clause 13.3.12 (b) and the increase of the Total Commitment in accordance with Clause 2.3;

		
	f.
	any unenforceability, illegality or invalidity of any obligation of any person under any Finance Document or any other document or security; or

		
	g.
	any insolvency or similar proceedings.

		
	11.6
	Immediate recourse

Each Guarantor waives any right it may have of first requiring any Finance Party (or any agent on its behalf) to proceed against or enforce any other rights or security or claim payment from any person before claiming from that Guarantor under this Clause 10. This waiver applies irrespective of any law or any provision of a Finance Document to the contrary.

Each Guarantor incorporated under the laws of Spain waives its rights of benefits of execution (excusion), order (orden) and division (division). 
		
	11.7
	Appropriations

Until all amounts which may be or become payable by the Obligors under or in connection with the Finance Documents have been irrevocably paid in full, each Finance Party and (or any agent on its behalf) may:
		
	a.
	refrain from applying or enforcing any other moneys, security or rights held or received by that Finance Party (or any agent on its behalf) in respect of those amounts, or apply and enforce the same in such manner and order as it sees fit (whether against those amounts or otherwise) and no Guarantor shall be entitled to the benefit of the same; and

		
	b.
	hold in an interest-bearing suspense account any moneys received from any Guarantor or on account of any Guarantor’s liability under this Clause 10.

		
	11.8
	Deferral of Guarantors’ rights

Until all amounts which may be or become payable by the Obligors under or in connection with the Finance Documents have been irrevocably paid in full and unless the Facility Agent otherwise directs, no Guarantor will exercise any rights which it may have by reason of performance by each of its obligations under the Finance Documents:
		
	a.
	to be indemnified by an Obligor and/or any Group Company;

		
	b.
	to claim any contribution from any other guarantor of any Obligor’s and/or Group Company’s obligations under the Finance Documents; 

		
	c.
	to take the benefit (in whole or in part and whether by way of subrogation or otherwise) of any rights of the Finance Parties under the Finance Documents or of any other guarantee or security taken pursuant to, or in connection with, the Finance Documents by any Finance Party; and/or

		
	d.
	to make any objection to pay on first demand.

		
	11.9
	Additional security

This guarantee is in addition to and is not in any way prejudiced by any other guarantee or security now or subsequently held by any Finance Party. 
		
	11.10
	Limitations

		
	11.10.1
	The obligations of each Guarantor shall be limited to a maximum amount of USD 1,500,000,000 with the addition of interest and costs. Sections 62 - 74 of the Norwegian Financial Contracts Act 1999 shall not apply to any Guarantor’s obligations hereunder. 

As required by Section 61 (2) of the Norwegian Financial Contracts Act 1999, the following information is given to each Guarantor:

		
	a.
	in addition to the guarantees created under this Clause 10, Clause 12.1 (Security Documents) to this Agreement contains a list of all pledges, mortgages, guarantees and other security created as at the date of this hereof pursuant to this Agreement;

		
	b.
	as of the date of this Agreement, no Default Notice has been issued pursuant to this Agreement; and

		
	c.
	the guarantee created by each Guarantor hereunder is created in respect of obligations which have not been incurred prior to the creation of such guarantee.

		
	11.10.2
	The obligations of each Guarantor shall furthermore be limited to such mandatory provisions of law applicable to such Guarantor limiting the legal capacity or ability of the relevant Guarantors to grant a guarantee hereunder, it being understood by each Guarantor that if a limitation no longer is applicable such limitation will no longer be applicable to the guarantee set out herein.  

		
	11.10.3
	If a payment by a Guarantor has been made in contravention of the limitations contained in Clause 11.10, the Finance Parties shall not be liable for any damages in relation thereto and the maximum amount repayable by the Finance Parties as a consequence of such contravention shall be the amount received from the Guarantor.

		
	11.10.4
	Norwegian limitations

		
	a.
	The obligations of a Guarantor incorporated in Norway (each a “Norwegian Guarantor”) under the Guarantees will be limited by mandatory provisions of law applicable to the Norwegian Guarantor limiting the legal capacity or ability of the Norwegian Guarantor to provide a guarantee as provided for under this Clause 11 (including, but not limited to, the provisions of Sections 8-7 and 8-10, cf. 1-3, of the Norwegian Companies Acts of 1997. 

		
	b.
	The limitations set out in paragraph (a) above shall apply mutatis mutandis to any Security provided by any Norwegian Guarantor under the Finance Documents and to any guarantee, undertaking, obligation, indemnity and payment, including but not limited to distributions, cash-sweeps, credits, loans and set-offs, pursuant to or permitted by the Finance Documents in relation to a Norwegian Guarantor;

		
	c.
	If a payment or the honouring of any Security by a Norwegian Guarantor has been made in contravention of the limitations contained in this Clause 11, the Finance Parties shall not be liable for any damages in relation thereto, and the maximum amount repayable by the Finance Parties as a consequence of such contravention shall be the amount received from that Norwegian Guarantor; and

		
	d.
	If any limitation is no longer applicable as a mandatory provision under Norwegian law, such limitation will no longer apply to the Guarantee or Security provided by a Norwegian Guarantor.

		
	11.10.5
	Austrian limitations 

Nothing in this Agreement shall be construed to create any obligation of a Guarantor incorporated in Austria (an “Austrian Guarantor”) to act in violation of mandatory Austrian capital maintenance rules (Kapitalerhaltungsvorschriften), including, without limitation, § 82 et seq. of the Austrian Act on Limited Liability Companies (Gesetz über Gesellschaften mit beschränkter Haftung - GmbHG) and § 52 et seq. of the Austrian Act on Joint Stock Companies (Aktiengesetz - AktG) (the "Austrian Capital Maintenance Rules"), and all obligations of an Austrian Guarantor under this Clause 11 

(On Demand Guarantee and Indemnity) and under any other provision in a Finance Document shall be limited in accordance with Austrian Capital Maintenance Rules.
If and to the extent the payment obligations of an Austrian Guarantor under this Clause 11 and/or under any other provision in a Finance Document would not be permitted under Austrian Capital Maintenance Rules, then such payment obligations shall be limited to the maximum amount permitted to be paid under Austrian Capital Maintenance Rules. According to the Parties' understanding of the Austrian Capital Maintenance Rules as of the date hereof, the amount secured is not less than (i) that Austrian Guarantor's balance sheet profit (including retained earnings) (Bilanzgewinn) as defined in § 224 (3) lit A no. IV of the Austrian Enterprise Code (Unternehmensgesetzbuch - UGB) as calculated by reference to the most recent (audited, if applicable) financial statements of that Austrian Guarantor then available, plus (ii) any other amounts which are freely available or can be converted into amounts freely available for distribution to the shareholder(s) under the GmbHG or AktG (as the case may be) and the UGB (such as, for instance, unrestricted reserves (freie Rücklagen)) at the time or times payment under or pursuant to this Clause 11 is requested from an Austrian Guarantor, plus, (iii) to the extent applicable, the equivalent of the aggregate Loans (plus any accrued interest, commission and fee thereon) borrowed by that Austrian Guarantor in its capacity as Borrower, plus (iv) to the extent applicable, the equivalent of the aggregate Loans (plus any accrued interest, commission and fees thereon) borrowed by any other Obligor under this Agreement and made available to that Austrian Guarantor and/or its Subsidiaries plus (v) the amount of any indebtedness capable of being discharged by way of setting-off that Austrian Guarantor's recourse claim following an enforcement of this guarantee against any indebtedness owed by that Austrian Guarantor to another Obligor.
If and to the extent the assumption or enforcement of any such payment obligation or liability of an Austrian Guarantor under this Clause 11 and/or under any other provision in a Finance Document would expose any officer of an Austrian Guarantor to personal liability or criminal responsibility such obligation or liability shall be limited to the maximum amount then permissible under Austrian Capital Maintenance Rules.
No reduction of an amount enforceable hereunder pursuant to these limitations will prejudice the rights of the Finance Parties or the Agent acting for and on behalf of the Finance Parties to continue enforcing their or his rights under this guarantee (subject always to the limitations set out in this Clause 11) until full satisfaction of the Obligors' obligations under the Finance Documents.
		
	11.10.6
	Swiss Limitations

		
	a.
	If and to the extent that a Guarantor incorporated in Switzerland (a "Swiss Guarantor") becomes liable under the Finance Documents for obligations of its Affiliates other than its Subsidiaries and if complying with such obligations would be restricted under then applicable Swiss corporate law (the "Restricted Obligations"), the aggregate liability of the Swiss Guarantor for Restricted Obligations shall be limited to the amount of unrestricted equity capital surplus (including the unrestricted portion of general and statutory reserves, other free reserves, retained earnings and, to the extent permitted by then applicable law, current net profits) available for distribution as dividends to the shareholders of the Swiss Guarantor (the "Maximum Amount"), provided that this is a requirement under then applicable mandatory Swiss law and understood that such limitation shall not free the 

Swiss Guarantor from its obligations in excess of the Maximum Amount, but that it shall merely postpone the performance date of those obligations until such time or times as performance is again permitted.
		
	b.
	Immediately after having been requested to perform the Restricted Obligations under the Finance Documents, the Swiss Guarantor shall (i) perform any obligations which are not affected by the above limitations, and (ii) in respect of any balance, if and to the extent requested by the Facility Agent or required under then applicable Swiss law, provide the Facility Agent with an interim balance sheet audited by the statutory auditors of the Swiss Guarantor setting out the Maximum Amount, take any further corporate and other action as may be required by the Facility Agent (such as board and shareholders' approvals and the receipt of any confirmations from the Swiss Guarantor's statutory auditors) and other measures required to allow the Swiss Guarantor to make the payments agreed hereunder with a minimum of limitations and, immediately thereafter, pay up to the Maximum Amount to the Facility Agent.

		
	c.
	In relation to payments made hereunder in satisfaction of Restricted Obligations, the Swiss Guarantor shall:

		
	i.
	if and to the extent required by applicable law and subject to any applicable double tax treaties in force at the relevant time:

		
	(A)
	deduct Swiss Withholding Tax at the rate of 35 per cent. (or such other rate as is in force at that time) from any such payment;

		
	(B)
	pay any such deduction to the Swiss Federal Tax Administration; and

		
	(C)
	notify and provide evidence to the Facility Agent that the Swiss Withholding Tax has been paid to the Swiss Federal Tax Administration;

		
	ii.
	as soon as possible after a deduction for Swiss Withholding Tax is made as required by applicable law:

		
	(A)
	ensure that any person which is entitled to a full or partial refund of the Swiss Withholding Tax, is in a position to be so refunded; and

		
	(B)
	in case it has received any refund of the Swiss Withholding Tax, pay such refund to the Agent promptly upon receipt thereof.

		
	d.
	For the avoidance of doubt, where a deduction for Swiss Withholding Tax is required pursuant to paragraph (c) above, the obligations of the Obligors under Clause 6.5 (Minimum interest), Clause 10.2 (Taxes), Clause 19.9 (Grossing-up) and Clause 10.3 (Tax indemnity) of this Agreement shall remain applicable, save to the extent and for as long as that would cause the Maximum Amount to be exceeded.

		
	e.
	If the enforcement of Restricted Obligations would be limited due to the effects referred to in this Clause 11.10.6, then the Swiss Guarantor shall (i) to the extent permitted by applicable law, revalue and/or realize any of its assets that are shown on its balance sheet with a book value that is significantly lower than the market value of such assets, and (ii) reduce its share capital to the minimum allowed under then applicable law.

		
	11.10.7
	German limitations

		
	a.
	To the extent that the guarantee and indemnity created under this Clause 11 (the "Guarantee") is granted by a German guarantor incorporated in Germany as a limited liability company (GmbH) (each a "German Guarantor") and the Guarantee of the German Guarantor guarantees amounts which are owed by direct or indirect shareholders of the German Guarantor or Subsidiaries of such shareholders (with the exception of Subsidiaries which are also Subsidiaries of the German Guarantor), the Guarantee of the German Guarantor shall be subject to the limitations set out in the following paragraphs of this Clause 11.10.7. In relation to any other amounts guaranteed, the Guarantee of the German Guarantor remains unlimited.

		
	b.
	Subject to paragraphs (d) to(n) below, the Agent shall not be entitled to enforce the Guarantee to the extent that the German Guarantor demonstrates before the enforcement that such enforcement has the effect of:

		
	i.
	reducing the German Guarantor's net assets (Nettovermögen within the German law meaning of that term) (the "Net Assets") to an amount less than its stated share capital (Stammkapital within the German law meaning of that term) (such reduction being a Begründung einer Unterbilanz within the German law meaning of that term); or

		
	ii.
	(if its Net Assets are already lower than its stated share capital) causing such amount to be further reduced (Vertiefung einer Unterbilanz within the German law meaning of that term),

		
	c.
	and thereby contravenes the obligatory preservation of its stated share capital according to §§ 30, 31 German GmbH-Act (GmbH-Gesetz) (the "GmbH-Act") ("Limitation on Enforcement" or "Limitation Event"). For the avoidance of doubt, to the extent the enforcement of the Guarantee will result in a fully valuable recourse claim (vollwertiger Rückgriffsanspruch) within the meaning of sentence 2 of paragraph 1 of § 30 GmbH-Act ("Recourse Claim") of the German Guarantor against a third party including a shareholder or another member of the Group, no Limitation on Enforcement applies and no Limitation Event occurs.

		
	d.
	The value of the Net Assets shall be determined in accordance with German GAAP consistently applied by the German Guarantor in preparing its unconsolidated balance sheets (Jahresabschluss according to § 42 GmbH-Act, §§ 242, 264 German Commercial Code (Handelsgesetzbuch - HGB)) in the previous years, save that:

		
	i.
	the amount of any increase of the stated share capital (Stammkapital) of the German Guarantor registered after the date of this Agreement without the prior written consent of the Majority Lenders shall be deducted from the relevant stated share capital;

		
	ii.
	loans provided to the relevant German Guarantor by a member of the Group or by a direct or indirect shareholders of that German Guarantor shall be disregarded if they are subordinated by an agreement in the sense of § 19 para. 2, 2nd sentence of the German Insolvency Code (Insolvenzordnung); and

		
	iii.
	loans and other liabilities incurred in violation of the provisions of any Finance Document shall be disregarded.

		
	e.
	The Limitation on Enforcement shall only apply if and to the extent that the managing director(s) (Geschäftsführer) on behalf of the respective German Guarantor have confirmed in writing to the Agent within ten Business Days following the Agent's demand under the Guarantee (i) the amount of the German Guarantor's Net Assets and (ii) to what extent the demanded payment would lead to the occurrence of a Limitation Event (the "Management Determination"), provided that until and including the earlier of (A) the date falling ten Business Days after the Agent's demand under the Guarantee and (B) the date of delivery of the Management Determination to the Agent, the right to enforce the Guarantee (whether in full or in part) shall be suspended.

		
	f.
	If the Agent disagrees with the Management Determination, the Agent (acting on behalf of the Finance Parties) shall nevertheless be entitled to enforce the Guarantee up to such amount, which is undisputed between itself and the relevant German Guarantor in accordance with the provisions of paragraph (e) above, provided that the Agent may only distribute any proceeds of such enforcement to any other Finance Party (in accordance with the relevant provisions of this Agreement) after receipt, and, subject to paragraph (l) below, on the basis of, the Auditor's Determination (as defined below). In relation to the amount which is disputed, the Agent and such German Guarantor shall instruct a firm of auditors of international standing and reputation to determine within 45 calendar days (or such longer period as has been agreed between the Company and the Agent) from the date the Agent has contested the Management Determination in writing to the relevant German Guarantor (i) the amount of the German Guarantor's Net Assets and (ii) to what extent the demanded payment would lead to the occurrence of a Limitation Event (the "Auditor's Determination"). If the Agent and the German Guarantor do not agree on the appointment of a joint auditor within five (5) Business Days from the date the Agent has disputed the Management Determination in writing to the relevant German Guarantor, the Agent shall be entitled to appoint auditors of international standing and reputation in its reasonable discretion. Without prejudice to paragraph (l) below, the amounts determined in the Auditor's Determination shall be (except for manifest error) binding on all Parties. The costs of the Auditor's Determination shall be borne by the Borrowers.

		
	g.
	If the amount which is enforceable under the Guarantee as determined by the Auditor's Determination (calculated as of the date the demand under the Guarantee was made and in accordance with paragraph (d) above) is lower than as determined by the Management Determination (the excess amount, the "Excess Amount"), but the Guarantee has been enforced on the basis of the amount determined by the Management Determination, then the Agent (acting on behalf of the Finance Parties) shall, within five (5) Business Days of receipt by the Agent of a written demand from the relevant German Guarantor 

		
	i.
	repay the Excess Amount (if and to the extent the amounts enforced on the basis of the Management Determination have not been received by any other Finance Party), and 

		
	ii.
	if and to the extent the amounts enforced on the basis of the Management Determination have been received by any other Finance Party, notify that Finance Party of the Excess Amount and forthwith pass on any amounts actually returned to the Agent by the Finance Parties in respect of the Excess Amount, 

		
	h.
	in each case provided a demand for repayment of the Excess Amount is made by the relevant German Guarantor to the Agent within one Month from the earlier of (i) the date of receipt by the Agent of the Auditor's Determination and (ii) the date falling 45 calendar days (or such longer period as has been agreed between the Borrowers and the Agent) from the date the Agent has contested the Management Determination in writing to the relevant German Guarantor (it being understood that any demand for repayment needs to specify the Excess Amount and can therefore only be made by the relevant German Guarantor once the Auditor's Determination is available). For the avoidance of doubt, each Finance Party shall only be liable to return such portion of the Excess Amount actually received (and, in the case of the Agent, not on-paid) by it and nothing set out in this paragraph (g) shall establish any joint and several liability of the Finance Parties in respect of any Excess Amount.

		
	i.
	If pursuant to the Auditor's Determination the amount payable under the Guarantee is higher than set out in the Management Determination the relevant German Guarantor shall pay the difference to the Finance Parties within five (5) Business Days after receipt of the Auditor's Determination.

		
	j.
	If the German Guarantor intends to demonstrate that the enforcement of the Guarantee would lead to the occurrence of a Limitation Event, then the German Guarantor shall, if the Agent so requests acting upon instruction of the Majority Lenders (each such request a "Realisation Request"), within two Months (or such longer period as the Agent may specify) following receipt by the German Guarantor of the Realisation Request, realise at arm's length terms to the extent necessary to satisfy the amounts demanded under this Guarantee any and all of its assets that:

		
	i.
	are shown in its balance sheet with a book value (Buchwert within the German law meaning of that term) which is significantly lower than their market value; and 

		
	ii.
	are not operationally necessary to continue its existing business or are capable to be replaced by the German Guarantor by way of sale and lease-back, the purchase of services from third parties or otherwise, (the "Relevant Assets").

		
	k.
	The German Guarantor shall within one Month following the Agent's Realisation Request provide to the Agent a list of all Relevant Assets. If the German Guarantor has not realised the Relevant Assets within two Months following the Agent's Realisation Request (the "Realisation Period") but delivered a Management Determination to the Agent, and (A) has omitted to undertake reasonable endeavours to effect such realisation or (B) has not provided reasonably detailed evidence to the Agent that it has undertaken reasonable endeavours to effect such realisation, until the last day of the Realisation Period, the Agent may instruct the auditor instructed to prepare 

the Auditor's Determination to prepare within fifteen calendar days an Auditor's Determination (regardless whether an Auditor's Determination has already been provided), taking into account any not realised Relevant Assets at 70 per cent. of their market value. Without prejudice to paragraph (l) below, the amounts determined in that Auditor's Determination shall be (except for manifest error) binding for all Parties. The costs of that Auditor's Determination shall be borne by the Borrowers.
		
	l.
	The Limitation on Enforcement does not affect the right of the Finance Parties to claim again any outstanding amount at a later point in time if and to the extent that paragraph (b) would allow this at that later point.

		
	m.
	The Limitation on Enforcement does not apply in relation to amounts that correspond to funds that have been on-lent to the relevant German Guarantor or any of its Subsidiaries. The burden of demonstrating that no amounts have been on-lent is on the German Guarantor, provided that an up-to-date financial statement of the German Guarantor prepared in accordance with the principles applicable to its unconsolidated balance sheet (Jahresabschluss according to § 42 GmbH-Act, §§ 242, 264 German Commercial Code) and setting out in reasonable detail in its annex (Anhang) any such on-lending (including to its Subsidiaries) or confirming its non-existence, shall constitute prima facie evidence for this purpose.

		
	n.
	The Limitation on Enforcement does not apply to any amounts payable under the Guarantee by a German Guarantor during the existence of a domination and/or profit and loss transfer agreement with the relevant German Guarantor as controlled entity (in accordance with § 291 of the German Stock Corporation Act (Aktiengesetz) other than where the existence of such domination and/or profit and loss transfer agreement has not the effect as set out in sentence 2 of paragraph 1 of section 30 GmbH-Act.

		
	o.
	This Clause 11.10.7 shall apply mutatis mutandis, if the Guarantee is granted by a German Guarantor organised as a limited partnership (Kommanditgesellschaft, KG) or general partnership (offene Handelsgesellschaft, OHG) with a limited liability company incorporated under German law (Gesellschaft mit beschränkter Haftung, GmbH) as general partner (Komplementär bzw. unbeschränkt haftender Gesellschafter within the German law meaning of that term) (a "Relevant General Partner") of such Guarantor, in respect of such Relevant General Partner.

		
	p.
	The restrictions under this Clause 11.10.7 shall not apply if, at the time of enforcement of the Guarantee, as a result of a change in the laws or German supreme court jurisprudence (höchstrichterliche Rechtsprechung), the granting or enforcement of the Guarantee can no longer result in a personal liability of the German Guarantor's or, as applicable, the Relevant General Partner's managing directors with a view to the obligatory preservation of its stated share capital according to §§ 30, 31 German GmbH-Act or any substitute provision. 

		
	11.10.8
	Spanish limitations

		
	a.
	Notwithstanding anything set out to the contrary in this Agreement or any other Finance Document, the obligations and liabilities of any Guarantor incorporated in Spain under this Agreement or any other Finance Document to which it is a party shall be deemed to have been given only to the extent such guarantee does not violate articles 143 or 150 of the Spanish Capital Companies Act (Real Decreto Legislativo 1/2010, de 3 de Julio, por el que se 

aprueba el texto refundido de la Ley de Sociedades de Capital), governing, inter alia, unlawful financial assistance, and the liability of each such Guarantor only applies to the extent permitted by such provisions.
		
	b.
	The limitation set out in paragraph (a) above shall apply mutatis mutandis to any security created by any Obligors incorporated in Spain under the Security Documents and to any guarantee, undertaking, obligation, indemnity and payment, including (but not limited to) distributions, cash sweeps, credits, loans and set-offs, pursuant to or permitted by the Finance Documents and made by each such Obligor.

		
	11.10.9
	 Polish Limitations

		
	a.
	The guarantee and the liability of any Guarantor incorporated in Poland under this guarantee shall:

		
	i.
	in the case of a Guarantor incorporated in Poland being a limited liability company, be limited in such way that such Guarantor shall not be obliged to effect any payment under this guarantee in the event and to the extent that they result in reduction of its assets necessary to fully cover its share capital in breach of Article 189 § 2 of the Polish Commercial Companies Code; and

		
	ii.
	in the case of a Guarantor incorporated in Poland being a joint stock company, or a subsidiary of a joint stock company, not extend to any part of the Facilities which provide direct, or indirect, financing (within the meaning of Article 345 § 1 of the Polish Commercial Companies Code) in respect of the acquisition of shares issued by such joint stock company incorporated in Poland to the extent the requirements under Article 345 of the Polish Commercial Companies Code has not been satisfied; for the avoidance of doubt, the foregoing means that the guarantee to such extent shall be limited and deemed not to be given by such Guarantor.

		
	iii.
	be limited and shall not include a guarantee or liability of any Guarantor incorporated in Poland for payment of any amounts due under or in connection with any Finance Document to the extent such amounts were used to finance acquisition of shares in DTP S.A (with its registered seat in Warsaw) by PRA Group Polska sp. z o.o (with its registered seat in Warsaw), for the avoidance of doubt, the foregoing means that the guarantee to such extent shall be limited and deemed not to be given by such Guarantor.

		
	b.
	Notwithstanding anything to the contrary contained in this Agreement or in any of the other Finance Documents, the obligations of each  Guarantor incorporated in Poland are limited to the extent that they do not result in its insolvency in the meaning of Article 11 § 2 of the Polish Bankruptcy Law or insolvency under any relevant regulation (the “New Bankruptcy Law”) that will replace or amend the Polish Bankruptcy Law and which will specify that entity is insolvent when the value of its liabilities (all or some of them) exceeds the value of its assets (regardless of whether such situation will result in immediate insolvency or lapse of time will be required). The limitation in this subparagraph will not apply if one or more of the following circumstances occur:

		
	i.
	a Default is declared, occurs and is outstanding, irrespective of whether it occurs before or after the Guarantor incorporated in Poland concerned becomes insolvent within the meaning of Article 11 section 2 of the Polish Bankruptcy Law or similar provisions of the New Bankruptcy Law;

		
	ii.
	the liabilities of the Guarantor incorporated in Poland (except those under the Finance Documents) result in its insolvency within the meaning of Article 11 section 2 of the Polish Bankruptcy Law or similar provisions of the New Bankruptcy Law.

		
	12.
	SECURITY

		
	12.1
	Security Documents

The Secured Obligations shall be secured by the interests and rights granted to the Finance Parties under the Security Documents. Such security shall rank with first priority and consist of: 
		
	i.
	the Share Pledges; 

		
	ii.
	the Assignment of Intra-Group Loans;

		
	iii.
	the Pledge of Shareholder Loans; 

		
	iv.
	the Assignment of Restructuring Intra-Group Loans; and

		
	v.
	the Polish Security,

(collectively the “Transaction Security”) 
		
	12.2
	Hedging Agreements

All obligations and liabilities of any Group Company to any Lender under or in connection with any Hedging Agreement or the Overdraft Facility shall be treated, for all purposes (other than Clauses 19.7 (Partial payments) and 17.1 (Redistribution)), as obligations and liabilities incurred under this Agreement and, for the avoidance of doubt, a Group Company’s obligations and liabilities under any Hedging Agreement or the Overdraft Facility shall be considered as Secured Obligations and liabilities under the Security Documents and for such purposes any reference in any Security Document to a Lender shall be deemed to include that Lender as a party to the relevant Hedging Agreements.
		
	12.3
	Additional Guarantor

		
	12.3.1
	Any company which is or becomes a Portfolio Owner or a Collection Company shall become an additional Guarantor and shall as soon as reasonably practicable execute and deliver an Accession Agreement to the Facility Agent together with all the documents referred to in the schedule to that Accession Agreement, each in form and substance reasonably satisfactory to the Facility Agent.

		
	12.3.2
	Each Finance Party hereby irrevocably authorises the Facility Agent to execute on its behalf Accession Agreements delivered to the Facility Agent by a Group Company in accordance with the terms of this Clause 12.3.

		
	12.4
	Additional Security

		
	a.
	The Borrowers shall procure that a company which is or becomes a Portfolio Owner or a Collection Company (subject to as set out in (b) below) or becomes a Portfolio Owner or a Collection Company shall as soon as reasonably practicable grant the relevant Transaction Security and the Borrowers shall procure that the relevant Transaction Security is granted and perfected over the shares of that Portfolio Owner or Collection Company, as security for the Secured Obligations. 

		
	b.
	The Borrowers shall procure that the Original Collection Companies shall grant the relevant Transaction Security including any relevant documents as set out in Schedule 5, and that the relevant Transaction Security is granted and perfected over the shares of the Original Collection Companies at the earlier of (i) 28 February  2015, (ii) upon being transferred to the Borrowers in accordance with the Restructuring, and (iii) upon becoming Portfolio Owners (provided in (i) and (ii) that they are Collection Companies at that point.

		
	12.5
	Special provision on Spanish enforcement procedures

		
	12.5.1
	Accounts of the Security Agent and of the Lenders

For the purposes of enforcing or foreclosing, pursuant to Spanish law, this Agreement (including any Guarantee provided by any Guarantor incorporated in Spain pursuant to Clause 11 or under the Security Documents), the Security Agent, in its capacity as such (and on behalf of the Lenders), shall open and maintain a special credit facility account in its books on behalf of the Obligors, from which all interest, fees, expenses, default interest, additional costs and any other amounts that the Obligors owe to the Lenders under the Finance Documents will be debited and into which all amounts received by or on account of the Lenders from the Obligors under the Finance Documents will be credited, so that the balance of the credit account represents the amount owed from time to time by the Obligors to the Lenders.
In addition to the account referred to in the preceding Clause, each Lender shall open and maintain a special account in its records equivalent to that described above, into which the interest, fees, expenses, default interest, additional costs and any other amounts that the Obligors owe to the Lender hereunder will be debited and into which all amounts received by the Lender from the Obligors under the Finance Documents shall be credited, so that the sum of the balance of the credit account represents the amount owed from time to time by the Obligors to the Lender. In the event of assignment as provided in Clause 23, the assignor will totally or partially cancel the referenced accounts, with corresponding accounts to be opened by the assignee.
Any failure to keep the records referred to in the two preceding Clauses or any error in doing so will not, however, limit or otherwise affect the obligation of the Lenders to pay any amount owed pursuant to the Finance Documents.
		
	12.5.2
	Determination of outstanding balance 

In the event of any discrepancy between the accounts and records maintained by any Lender and the accounts and records of the Security Agent corresponding to such matters, the Security Agent’s accounts and records will take precedence in the absence of manifest error. 

		
	12.5.3
	If any of the events of termination by maturity or acceleration of the Facility occurs, the Security Agent or, if applicable, a Lender who brings the action separately, will settle the accounts referred to in Clause 12.5.1(Accounts of the Security Agent and of the Lenders). For the purposes of enforcement in judicial or extrajudicial proceedings, it is expressly agreed that the balance of the accounts referred to in Clause 12.5.1 (Accounts of the Security Agent and of the Lenders) resulting from the certification for that purpose issued by the Security Agent or, if applicable, the Lender who brings the action separately will be deemed a liquid, due and payable amount enforceable against the Borrowers and any Guarantor incorporated in Spain, provided that it is evidenced in a notarial document that the settlement was made in the form agreed by the parties in the enforceable instrument (título ejecutivo) and that the outstanding balance is equivalent to that recording in the corresponding account of the Borrowers opened in connection with the Facility.

		
	12.5.4
	The Security Agent or, if applicable, the relevant Lender, shall give advance notice to the Borrowers of the amount due as a result of the settlement.

		
	12.5.5
	In the event that the Lenders or, if applicable, the Lender who brings the action separately, decide to commence the ordinary enforcement proceedings contemplated under articles 517 et seq. of the Spanish Civil Procedure Act (Ley 1/2000, de 7 de enero, de Enjuiciamiento Civil), the Parties expressly agree for the purposes of articles 571 et seq. of the Spanish Civil Procedure Act that the settlement to determine the enforceable due debt (deuda ejecutivamente reclamable) will be carried out by the Security Agent or, if applicable, by the Lender who brings the action separately. Therefore, the following will be sufficient for the commencement of summary proceedings:

		
	(i)
	an executory copy (copia autorizada de la escritura matriz con carácter ejecutivo) of the notarial instrument raising this Agreement to the status of a public deed;

		
	(ii)
	a certificate, issued by the Security Agent or, if applicable, by the Lender who brings the action separately, of the debt for which the Borrowers are liable, which shall include an extract of the debit and credit entries and the entries corresponding to the application of interest that determine the specific balance for which enforcement is requested;

		
	(iii)
	the document evidencing (documento fehaciente) that the settlement of the debt has been carried out in the form agreed in this Agreement; and

		
	(iv)
	a certified document evidencing the service of prior notice to the Borrowers of the amount due as a result of the settlement.

		
	12.5.6
	All taxes, expenses and duties that accrue or incurred by reason of the notarial instruments referred to in the preceding Clause will be satisfied by the Borrowers.

		
	13.
	REPRESENTATIONS AND WARRANTIES

		
	13.1
	Representations and warranties

Each Obligor makes the representations and warranties set out in this Clause 13 to each Finance Party, in respect of itself. 
		
	13.1.1
	Status

Each Group Company, except for the Polish Securitzation Funds, is a limited liability company duly incorporated with perpetual corporate existence under the laws of the jurisdiction of its incorporation, and it possesses the capacity to sue and be sued in its own name and has the power to carry on its business and to own its property and other assets.
		
	13.1.2
	Powers and authority

Each Group Company, where applicable, has the power to execute, deliver and perform its obligations under the Finance Documents and to carry out the transactions contemplated by those documents and all necessary corporate, board, management body, shareholder and other action has been or will be taken to authorise the execution, delivery and performance of the same.
		
	13.1.3
	Binding obligations

Subject to the Reservations, the obligations of each Group Company under the Finance Documents constitute its legal, valid, binding and enforceable obligations.
		
	13.1.4
	Contraventions

The execution, delivery and performance by each Group Company of the Finance Documents do not:
		
	a.
	contravene any applicable law, regulation or any order of any governmental or other official authority, body or agency or any judgement, order or decree of any court having jurisdiction over it, including Sanctions;

		
	b.
	conflict with, or result in any breach of any of the terms of, or constitute a default under, any agreement, arrangement or other instrument to which it is a party or any licence or other authorisation to which it is subject or by which it or any of its property is bound, which is likely to have a Material Adverse Effect; or

		
	c.
	contravene or conflict with the provisions of its articles of association, registration certificate or other constitutional documents.

		
	13.1.5
	Insolvency

No Group Company is (i) unable to pay its debts as they fall due or has admitted in writing its inability to pay its debt as they fall due or has become insolvent, (ii) has suspended making payments on any of its debts as they fall due or, by reason of actual or anticipated financial difficulties, has commenced negotiations with one or more of its creditors with view to rescheduling any of its indebtedness or the Lone Star Commitment; (iii) has taken any action (by petition, application, answer, consent or otherwise), (iv) otherwise has taken any action nor have any steps been taken or legal proceedings been started or, to the best of any Obligor’s knowledge and belief, threatened against it for winding up, liquidation, bankruptcy, dissolution (including liquidacion, disolucion, concurso de acreedores or any similar situation under the Spanish corporate, commercial and civil law regulation) or re organisation (other than a solvent re-organisation), or similar executor or judicial proceeding, or has submitted to the relevant court a notice as set forth under article 5 bis of the Spanish Act 22/2003, of 9 July, on insolvency, (v) any such action has been instituted against such member of the Group and remains undismissed, undischarged or unstayed,(vi) has taken any corporate or similar action for the purpose of effecting any of the foregoing and (vii) the enforcement of any Encumbrance over its assets or for the appointment of a receiver, administrative receiver, administrator, trustee or similar officer of it or of any of its assets.
		
	13.1.6
	No default

No Group Company is (nor would be with any of the giving of notice, the lapse of time, the determination of materiality, or the satisfaction of any other condition), in breach of or in default under any agreement or arrangement to which it is a party or which is binding on it or any of its assets in a manner or to an extent which is likely to have a Material Adverse Effect.
		
	13.1.7
	Litigation

No action, litigation, arbitration or administrative proceeding has been commenced or is pending or, as far as each Obligor is aware, threatened against any Group Company which, if decided adversely, is likely to have a Material Adverse Effect, nor is there subsisting any unsatisfied judgement or award given against any of them by any court, arbitrator or other body.
		
	13.1.8
	Accounts and projections

Each of the Accounts prepared of each Group Company required to be delivered under Clause 14.1.1 (Financial Statements) is prepared in accordance with the Accounting Principles and gives, to the best knowledge and belief of each Obligor, a true and fair view of the financial position of the relevant company as at the date to which they were prepared and for the Financial Year of that company then ended and there are no material adverse change in in the consolidated financial condition of the Obligors since the date of the latest published financial statements.
		
	13.1.9
	Encumbrances

No Encumbrance other than a Permitted Encumbrance exists over all or any part of the assets of any Group Company.
		
	13.1.10
	No Encumbrances created

The execution of the Finance Documents by the Obligors and the exercise of each of their respective rights and the performance of each of their respective obligations under the Finance Documents will not result in the creation of, or any obligation to create, any Encumbrance over or in respect of any of their assets (other than pursuant to the Finance Documents).
		
	13.1.11
	Indebtedness

No Group Company has any outstanding Indebtedness (save for any Permitted Indebtedness).
		
	13.1.12
	Authorisations

Other than the registration of and/or giving of notice in accordance with the Security Documents, all authorisations, approvals, licences, consents, filings, registrations, payment of duties or taxes and notarisations required:
		
	a.
	for the conduct of the business, trade and ordinary activities of each Group Company, except to the extent that failure to make, pay or obtain the same would not have a Material Adverse Effect;

		
	b.
	for the performance and discharge of the obligations of each Group Company under the Finance Documents to which it is a party; and

		
	c.
	in connection with the execution, delivery, validity, enforceability or admissibility in evidence of the Finance Documents,

are in full force and effect.
		
	13.1.13
	Stamp duties

Other than the registration of the Security Documents, no stamp or registration duty or similar taxes or charges are payable in any relevant jurisdiction in respect of any Finance Document, except that in the case of court proceedings in a Luxembourg court or the presentation of the Finance Documents - either directly or by way of reference - to an autorité constituée, such court or autorité constituée may require registration of all or part of the Finance Documents with the Administration de l'Enregistrement et des Domaines in Luxembourg, which may result in registration duties, at a fixed rate or an ad valorem rate which depends on the nature of the registered document, becoming due and payable. 
		
	13.1.14
	Financial year

The financial year of each Group Company is the calendar year.
		
	13.1.15
	Corporate structure

On the date of the Agreement:
		
	a.
	The details of Borrowers and its Subsidiaries set out in Schedule 7 are accurate and complete in all respects.

		
	b.
	Save as specified in Schedule 7, no person has any interest in (including but not limited to any right of pre-emption, option to acquire or the equivalent) the shares of any Group Company other than over the shares in the Borrowers.

		
	c.
	No Group Company has any interest in any person in respect of which the liability of that Group Company in respect of the obligations of that person is unlimited.

		
	d.
	Each of the Group Companies (other than the Borrowers) set out in Schedule 7 is, unless otherwise expressly stated in Schedule 7, owned to 100 per cent (votes and capital).

		
	13.1.16
	Intellectual Property Rights

		
	a.
	The Group Companies own or have the legal right to use all of the Intellectual Property Rights which are material to the conduct of the business of any Group Company or are required by any Group Company in order for it to carry on its business.

		
	b.
	The operations of each Group Company do not infringe, or are not likely to infringe, any Intellectual Property rights held by any third party, which infringement if ruled against the company is likely to have a Material Adverse Effect.

		
	c.
	No claim has been made in writing by any third party which alleges any infringing act or process which would fall within paragraph (b) above or which otherwise disputes the right of any Group Company to use any Intellectual 

Property Rights relating to that company’s business which if ruled against the company is likely to have a Material Adverse Effect and no Group Company is aware of any circumstances (including any act or omission to act) which could reasonably be expected to give rise to such a claim.
		
	d.
	There exists no actual or threatened, as far as each Obligor is aware, infringement by any third party of any Intellectual Property Rights relating to the business of any Group Company or any event likely to constitute such an infringement, which infringement if ruled against the company is likely to have a Material Adverse Effect.

		
	e.
	All Intellectual Property Rights owned by a Group Company are subsisting and no act has been done or omitted to be done and no event has occurred or, is likely to occur which has or could reasonably be expected to render any Intellectual Property Rights subject to revocation, compulsory licence, cancellation or amendment, which event is likely to have a Material Adverse Effect.

		
	13.1.17
	Ownership of Assets

Save to the extent provided for in this Agreement or disposed of without breaching the terms of any of the Finance Documents, each Group Company has good title to or valid leases or licences of or is otherwise entitled to use and permit other Group Companies to use all assets necessary to conduct its business in all material ways. All Existing Loan Portfolios and Approved Loan Portfolios are wholly owned by a Portfolio Owner, save only as set out in Clause 14.2.15 (Ownership of Loan Portfolio). 
		
	13.1.18
	Security Documents

		
	a.
	Subject to the Reservations, the Security Documents create the Encumbrance they purport to create with the priority stated therein and are not liable to be avoided or otherwise set aside on the liquidation, administration, bankruptcy or equivalent of the Group Company party to them.

		
	b.
	Each Group Company is the owner of the assets of each member of the Group which it pledges or purports to pledge pursuant to any of the Security Documents. The assets pledged (or purported to be pledged) pursuant to the Security Documents are all fully paid (as applicable), are pledged by way of first ranking pledge if not otherwise expressly stated in this Agreement and are not subject to any option to purchase, pre-emption rights, right of first refusal or similar rights and, represent all of the issued share capital of the relevant company.

		
	13.1.19
	Deduction of Tax and no filing or Stamp taxes

		
	a.
	It is not required to make any deduction for or on account of Tax from any payment it may make under any Finance Document to a Lender.

		
	b.
	Under the law of its jurisdiction of incorporation it is not necessary that the Finance Documents be filed, recorded or enrolled with any court or other authority in that jurisdiction or that any stamp, registration or similar tax be paid on or in relation to the Finance Documents or the transactions contemplated by the Finance Documents, except that in the case of court proceedings in a Luxembourg court or the presentation of the Finance Documents - either directly or by way of reference - to an autorité constituée, such court or autorité constituée may require registration of all or part of the Finance Documents with the Administration de l'Enregistrement et des Domaines 

in Luxembourg, which may result in registration duties, at a fixed rate or an ad valorem rate which depends on the nature of the registered document, becoming due and payable.
		
	13.1.20
	Pari passu ranking

Its payment obligations under the Finance Documents rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors, except for obligations mandatorily preferred by law applying to companies generally.
		
	13.1.21
	No Residency

No Finance Party will be deemed resident, domiciled or carrying on business in any jurisdiction by reason only of the execution, performance and/or enforcement of any Finance Document.
		
	13.1.22
	No material adverse change

There has been no change in the financial condition, operations, assets, business, properties or prospects of the Group since the date of the most recent annual Accounts of the Group, which has, or is reasonably likely to have, a Material Adverse Effect.
		
	13.1.23
	Compliance with Swiss Twenty Non-Bank Rule

		
	a.
	    Each Swiss Obligor is in compliance with the Swiss Twenty Non-Bank Rule.

		
	b.
	    For the purposes of paragraph (a) above, each Swiss Obligor shall assume that the aggregate number of Lenders which are Swiss Non-Qualifying Banks is 10 (ten).

		
	13.1.24
	Sanctions

		
	a.
	Each Obligor, each Subsidiary other member of the Group, their joint ventures, and their respective directors, officers, employees, and, to the best of the Obligors‘ knowledge, having made due enquiries, agents or representatives has been and is in compliance with Sanctions Laws; 

		
	b.
	No Obligor, nor any Subsidiary other member of the Group, their joint ventures, and their respective directors, manager, officers, employees, and, to the best of the Obligors‘ knowledge, having made due enquiries, agents, Affiliates or representatives: 

		
	i.
	is a Restricted Party, or is involved in any transaction through which it is likely to become a Restricted Party; or

		
	ii.
	is subject to or involved in any inquiry, claim, action, suit, proceeding or investigation against it with respect to Sanctions Laws by any Sanctions Authority.

		
	13.1.25
	Taxation

		
	a.
	It is not (and none of its Subsidiaries is) materially overdue in the filing of any Tax returns and it is not (and none of its Subsidiaries is) overdue in the payment of any amount in respect of Tax.

		
	b.
	No claims or investigations are being, or are reasonably likely to be, made or conducted against it (or any of its Subsidiaries) with respect to Taxes.

		
	c.
	It (excluding the Swiss Branch) is resident for Tax purposes only in its Original Jurisdiction and does not act through a permanent establishment in a jurisdiction or country different from the Original Jurisdiction.

		
	13.1.26
	Anti-corruption law

Each member of the Group has conducted its businesses in compliance with applicable anti-corruption laws and has instituted and maintained policies and procedures designed to promote and achieve compliance with such laws.
		
	13.1.27
	Centre of main interest 

The "centre of main interests" (as that term is used in the Council Regulation (EC) n°1346/2000 of 29 May 2000 on insolvency proceedings) of the Borrower is in Luxembourg, and the Borrower (other than the Swiss Branch) has not any "establishment" (as that term is used in the Council Regulation (EC) n°1346/2000 of 29 May 2000 on insolvency proceedings) outside Luxembourg. 
All the legal requirements of the Luxembourg law of 31 May 1999, as amended, regarding the domiciliation companies have been complied with by the Borrower. 
		
	13.1.28
	Repetition

The representations and warranties set out in Clause 13.1 (Representations and warranties) shall survive the execution of this Agreement and each of the said representations and warranties (other than the representations and warranties set out in Clauses 13.1.9 (Encumbrances) 13.1.10, (No Encumbrances created), 13.1.11 (Indebtedness), 13.1.25 (Taxation), 13.1.14 (Financial Year) and 13.1.15 (Corporate structure)) shall be repeated (the “Repeating Representations”) on each Interest Date, each Drawdown Date as if made with reference to the facts existing at the time of repetition.
		
	14.
	UNDERTAKINGS

		
	14.1
	Information undertakings

The undertakings in this Clause 14.1 remain in force during the Security Period unless otherwise agreed by the Facility Agent (acting on the instructions of the Majority Lenders).
		
	14.1.1
	Financial Statements

The Borrowers shall supply to the Facility Agent in sufficient copies for all the Lenders: 
		
	a.
	as soon as the same become available and in any event within one hundred and fifty (150) days from the end of each Financial Year the audited financial statements for Luxco based on the agreed simplified IFRS-procedure (as agreed between the Agent and the Borrower) together with audited annual financial statements and audit report for the Parent (both on a consolidated basis) for that Financial Year.

		
	b.
	as soon as the same become available and in any event within one hundred and fifty (150) days from the end of each Financial Year, the unaudited annual financial statements of the Borrowers (on a consolidated basis) for that Financial Year, such accounts to be prepared according to the agreed IFRS procedure.

		
	c.
	as soon as the same become available and in any event within sixty (60) days after the end of each Financial Quarter, the quarterly financial statements (the first financial statements to be delivered shall be based on Q3 

2014) of the Borrowers and Parent (on a consolidated basis) for that Financial Quarter, where such accounts for the Borrowers are to be prepared by the agreed IFRS procedure.  
		
	d.
	Following a breach of the 95% ERC requirement as set out in Clause 14.4.4 the Borrowers shall deliver monthly calculations of the ERC requirement.

		
	14.1.2
	Information: miscellaneous

		
	a.
	The Borrowers shall, as soon as possible following the Facility Agent’s request (issued by the Facility Agent at the request by any of the Lenders), provide to the Facility Agent such other information, estimates, forecasts or projections in relation to any Group Company and any of their respective businesses, assets, financial condition, ownership or prospects, including ERC calculations as the Facility Agent may reasonably require provided that such information, estimates, forecasts or projections shall be used solely for the purpose of the Finance Documents and shall be held in confidence by the Facility Agent and each Lender to which it is disclosed. 

		
	b.
	The Obligors shall promptly upon becoming aware of them provide to the Facility Agent such other information of details of any inquiry, claim, action, suit, proceeding or investigation pursuant to Sanctions Laws by any Sanctions Authority against it, any of its direct or indirect owners, Subsidiaries, other member of the Group, any of their joint ventures or any of their respective directors, officers, employees, agents or representatives, as well as information on what steps are being taken with regards to answer or oppose such. 

		
	c.
	The Obligors shall promptly upon becoming aware that it, any of its direct or indirect owners, Subsidiaries or other members of the Group, any of their joint ventures or any of their respective directors, officers, employees, agents or representatives has become or is likely to become a Restricted Party. 

		
	14.1.3
	Repurchases of Loan Portfolios

		
	a.
	The Borrowers shall promptly inform the Agent of any exercise of any repurchase right and provide reasonably detailed information concerning the background for such repurchases (in relation to (i) below, for the aggregate provide, in reasonable detail, an overview of all repurchases), in relation to any Loan Portfolio where:

		
	i.
	The repurchase would lead to the aggregate amount of repurchases for the previous 12 month period exceeding USD 5,000,000; or

		
	ii.
	The repurchase is initiated on the basis of a breach or alleged breach of law or regulation by a Borrower or any of its Subsidiaries.

		
	b.
	The Borrowers shall in connection with the delivery of each Compliance Certificate report the aggregate amount of repurchases of Loan Portfolios during the relevant reporting period.

		
	14.1.4
	Compliance certificates

		
	a.
	The Borrowers shall provide to the Facility Agent within sixty (60) days of each Quarter Date a certificate substantially in the form set out in Schedule 9 (Form of Compliance Certificate) (a “Compliance Certificate”) executed by the chairman of the Board or the chief executive officer, the de facto chief financial officer or vice president finance of the Group certifying that on such Quarter Date (the first Compliance Certificate to be delivered 

to be based on the financial statements for Q3 2014) all the undertakings on the part of Borrowers under this Agreement are for the time being complied with and including the calculations relating to the financial undertakings set out in Clause 14.4 (Financial undertakings). 
		
	b.
	Each Compliance Certificate shall be verified by the Auditors in a form to be agreed between the Borrowers and the Facility Agent. 

		
	14.1.5
	Accounting Principles

The Borrowers shall ensure that all Accounts and other financial information submitted to the Facility Agent have been prepared in accordance with the Accounting Principles. The Accounts will not need to include notes unless required by the Facility Agent.
		
	14.1.6
	Default, litigation, etc

The Borrowers shall promptly, upon becoming aware of the same, notify the Facility Agent of:
		
	a.
	any Default or Potential Default;

		
	b.
	any litigation, arbitration or administrative proceeding commenced against any Group Company involving a potential liability of any Group Company exceeding USD  5,000,000 on an aggregated basis; and

		
	c.
	any Encumbrance (other than a Permitted Encumbrance) attaching to any of the assets of any Group Company.

		
	14.1.7
	Management presentations, etc

The Borrowers shall
		
	a.
	once in every Financial Year and on the occurrence of a Default or a Potential Default, if requested by the Facility Agent, the chief executive officer and the de facto chief financial officer of the Group  will, if so requested in writing, give a presentation to the Lenders, at a time and venue agreed with the Facility Agent (or otherwise as specified by the Facility Agent by not less than ten (10) Business Days’ notice), about the status for and development of the Loan Portfolios, including any deviation from the mandate structure of the Service Agreements, the ongoing business and financial performance of the Group and the budget and about such other matters relating to the ongoing business and financial performance of the Group or any member of the Group as any of the Lenders may reasonably request;

		
	b.
	if requested by the Facility Agent to carry out a due diligence of the Existing Loan Portfolios based on an agreed scope, but including calculation of the LTV Ratio. However, such request can only be made once a year.

		
	14.1.8
	“Know Your Customer”

If any Lender (or any prospective new Lender) needs to comply with “know your customer” or similar identification procedures, each Obligor shall (and the Borrowers shall ensure that each member of the Group will) promptly upon the request of the Facility Agent supply such information as is reasonably requested for this purpose by the Facility Agent.

		
	14.1.9
	Claims from sellers of Approved Loan Portfolio

The Borrowers shall report to the Facility Agent any additional claims a seller of an Approved Loan Portfolio makes on the cash flow from the Approved Loan Portfolio after the settlement date of the acquisition of such Approved Loan Portfolio.
		
	14.2
	Positive undertakings

The undertakings in this Clause 14.2 remain in force during the Security Period unless otherwise agreed by the Facility Agent (acting on the instructions of the Majority Lenders).
		
	14.2.1
	Taxes

Each Obligor shall (and the Borrowers shall ensure that each member of the Group will) pay and discharge all Taxes and governmental charges payable by or assessed upon it prior to the date on which the same become overdue unless, and only to the extent that, such Taxes and charges shall be contested in good faith by appropriate proceedings, pending determination of which payment may lawfully be withheld, and there shall be set aside adequate reserves with respect to any such Taxes or charges so contested in accordance with the Accounting Principles.
		
	14.2.2
	Insurance

Each Obligor shall (and the Borrowers shall ensure that each member of the Group will) maintain insurances of such types, in such amounts and against such risks as are maintained by prudent companies carrying on business comparable with that of the relevant Group Company.
		
	14.2.3
	Authorisations

Each Obligor shall (and the Borrowers shall ensure that each member of the Group will) obtain, maintain and comply with the terms of any authorisation, approval, licence, consent, exemption, clearance, filing or registration required:
		
	a.
	for the conduct of its business, trade and ordinary activities (except to the extent that failure to obtain, maintain or comply with such requirements is not likely to have a Material Adverse Effect); and

		
	b.
	to enable it to perform its obligations under, or for the validity, enforceability or admissibility in evidence of, any Finance Document.

		
	14.2.4
	Access

Each Obligor shall (and the Borrowers shall ensure that each member of the Group will) upon reasonable notice being given to the Borrowers by the Facility Agent, and not more than once a calendar year, permit the Facility Agent and any person (such as but not limited to an accountant, auditor, lawyer, valuer or other professional adviser of the Facility Agent) authorised by the Facility Agent to have, to a reasonable extent and at all reasonable times during normal business hours, access to the premises, sites or property of any Group Company and the right to discuss the affairs of each Group Company with the senior management of the relevant Group Company.
		
	14.2.5
	Ranking of obligations

Each Obligor shall (and the Borrowers shall ensure that each member of the Group will) ensure that its obligations under the Finance Documents to which it is a party shall at all times rank at least pari passu with all its other present and future unsecured and unsubordinated Indebtedness except for any obligations which are mandatorily preferred by law.
		
	14.2.6
	Further documents

Each Obligor shall (and the Borrowers shall ensure that each member of the Group will) at the reasonable request of the Facility Agent, do or procure the doing of all such things and execute or procure the execution of all such documents as are, in the reasonable opinion of the Facility Agent or the Security Agent, necessary to ensure that the Facility Agent or the Security Agent and the other Finance Parties obtain, maintain and protect all their rights and benefits under the Finance Documents and maintain perfected security interests as contemplated under the Security Documents.
		
	14.2.7
	Hedging

The Borrowers shall always comply with the Hedging Strategy delivered pursuant to Clause 4.1 (Documentary conditions precedent), and shall not change such strategy unless consented to by the Facility Agent. 
		
	14.2.8
	Intellectual Property Rights

Each Obligor shall (and the Borrowers shall ensure that each member of the Group will) take all necessary action to protect, maintain and keep in full force and effect all the rights and benefits of each Group Company and ensure that the Group has full legal ownership in relation to any Intellectual Property Rights which is material to such Group Company.
		
	14.2.9
	Compliance

Each Obligor shall (and the Borrowers shall ensure that each member of the Group will) comply in all respects with all laws to which it may be subject, if failure so to comply has or is reasonably likely to have a Material Adverse Effect and each Obligor shall also (and the Borrowers shall ensure that any Subsidiary or other members of the Group will) at all times comply with all Sanctions Laws. 
		
	14.2.10
	Sanctions

Each Obligor shall ensure that none of them, nor any of their Subsidiaries or any other member of the Group, respective directors, officers, employees, and, to the best of their ability agents or representatives or any other persons acting on any of their behalf, is or will become a Restricted Party.
		
	14.2.11
	Maintenance of status 

Unless otherwise expressly permitted under this Agreement, each Obligor shall (and the Borrowers shall ensure that each Group Company will) do all things necessary to maintain its corporate existence save only as contemplated under the Restructuring.
		
	14.2.12
	Auditors

The Borrowers shall ensure that each Group Company is audited by the Auditors.
		
	14.2.13
	Collection Company

		
	a.
	The Borrowers shall ensure that each Portfolio Owner has entered into a Service Agreement (to the extent collection is not provided by the Portfolio Owner itself) and each Portfolio Owner shall procure or ensure that the Collection Company under the Service Agreement undertakes to remit all amounts received under a Loan Portfolio in segregated client accounts. The Borrowers shall ensure that each Service Agreement shall be entered into on arm’s length principles containing a compensation level which is acceptable to the Facility Agent and shall not materially deviate from the standard approved by the Facility Agent.

		
	b.
	The Borrowers shall ensure that no material change in the mandate structure of the Service Agreements will occur.

		
	14.2.14
	Compliance with Swiss Twenty Non-Bank Rule

		
	a.
	Each Swiss Obligor shall at all times during the term of this Agreement be in compliance with the Swiss Twenty Non-Bank Rule.

		
	b.
	For the purposes of paragraph (a) above, each Swiss Obligor shall assume that the aggregate number of Lenders which are Swiss Non-Qualifying Bank is 10 (ten).

		
	14.2.15
	Ownership of Loan Portfolio

The Borrowers shall procure that each relevant Portfolio Owner is the sole legal and beneficial owner of:
		
	a.
	the cash flow from the Existing Loan Portfolios and Approved Loan Portfolios, except for cash flow from the Polish Portfolios which will be owned through the Polish Portfolio Notes representing ownership of (i) 70% of the total Loan Portfolios in case of the Omega Portfolio Notes, (ii) 100% of the total Loan Portfolios in case of the Horyzont Portfolio Notes and (iii) 100% of the total Loan Portfolios in case of the DTP Portfolio Notes, pursuant to their constitutional documents. For the avoidance of doubt, the Polish Securitization Funds shall be the sole legal and beneficial owner of the cash flow from the relevant Existing Loan Portfolios and Approved Loan Portfolios.

		
	b.
	the Existing Loan Portfolios and Approved Loan Portfolios, except for: 

		
	i.
	Approved Loan Portfolios where the beneficial owner is a Group Company but the legal ownership of such Loan Portfolio is with a financial institution holding a rating of at least “A-1“ with Standard & Poor’s Ratings Services, a division from the Mc Graw-Hill Companies, Inc or “A3” with Moody’s Investors Service Inc., provided that the Borrowers has explicitly informed the Facility Agent that the Portfolio Owner does not have legal ownership and the Majority Lenders have not dis-approved the situation in writing to the Facility Agent within 7 Business Days of the Lenders receiving written notice thereof from the Facility Agent (the “Tacit Consent Procedure”) provided that the Tacit Consent Procedure shall only be applicable to the extent that the Borrowers explicitly includes, in the information to the Facility Agent, that the information provided to the Facility Agent is subject to the Tacit Consent Procedure and the Facility Agent shall provide the Borrowers a prompt response as to the result of the Tacit Consent Procedure; 

		
	ii.
	The BAWAG Portfolio, Eisberg Portfolio and the German Portfolio (all as set out in Schedule 8), provided that they shall be beneficially wholly owned by the respective Portfolio Owner and that no change in ownership, ownership structure or legal status and no substantial change in the agreements relating to the ownership of these, shall occur in relation to these from what has been presented to and approved by the Agent; 

		
	iii.
	Approved Loan Portfolios as approved by the Facility Agent (on behalf of the Majority Lenders); and

		
	iv.
	The Loan Portfolios owned through the Polish Portfolio Notes, provided that:

		
	a)
	the relevant Portfolio Owner is the sole legal and beneficial owner of the Polish Portfolio Notes; 

		
	b)
	the relevant Polish Securitization Fund is the sole legal and beneficial owner of the relevant Existing Loan Portfolios and Approved Loan Portfolios;

		
	c)
	that no change in ownership structure or legal status and no substantial change (including changes that may adversely effect the security interests of the Finance Parties) in the agreements relating to the rights or interests of the relevant Portfolio Owner to the Polish Portfolio Notes, the underlying portfolios or the Polish Securitization Funds, shall occur from what has been presented to and consented to in writing by the Agent; 

		
	d)
	any and all trading/transfer restrictions on the Polish Portfolio Notes are removed (i) in relation to the Omega Portfolio Notes within 60 days from the First Effective Date, (ii) in relation to the Horyzont Portfolio Notes from the First Effective Date and (iii) in relation to the DTP Portfolio Notes from the Third Effective Date; and

		
	e)
	the Polish Security is in place from the First Effective Date, except for (i) the pledge over the Omega Portfolio Notes which shall be in place within 60 days from the First Effective Date and (ii) the Polish Security in relation to the DTP Portfolio Notes which shall be in place no later than the Third Effective Date.

Any calculations relating to that Loan Portfolio (including calculation of ERC and financial covenants) shall be made on the basis of the Polish Portfolio Notes’ respective share of the underlying Loan Portfolio(s). 
		
	14.2.16
	Centre of main interest 

The Borrower undertakes that; 
		
	i.
	its "centre of main interests" (as that term is used in the Council Regulation (EC) n°1346/2000 of 29 May 2000 on insolvency proceedings) is in Luxembourg, and it (other than the Swiss Branch) has not any  "establishment" (as that term is used in the Council Regulation (EC) n°1346/2000 of 29 May 2000 on insolvency proceedings) outside Luxembourg; and 

		
	ii.
	that all the legal requirements of the Luxembourg law of 31 May 1999, as amended, regarding the domiciliation companies have been complied with by.  

		
	14.2.17
	Simplified IFRS procedure 

The Borrower undertakes to deliver to the Agent, in form and substance satisfactory to the Agent, the description of the simplified IFRS procedure 10 days before the delivery of the Financial Statements in Clause 4.1.1.
		
	14.3
	Negative undertakings

The undertakings in this Clause 14.3 remain in force during the Security Period unless otherwise agreed by the Facility Agent (acting on the instructions of the Majority Lenders).
		
	14.3.1
	Negative Pledge

		
	a.
	No Obligor shall (and the Borrowers shall ensure that no member of the Group will) create or permit to subsist any Encumbrance over any of a Group Company’s assets or future assets other than Permitted Encumbrances without the Facility Agent’s prior written consent.

		
	b.
	The Borrowers shall ensure that no Subsidiary of the Borrowers which is a Collection Company shall create or permit to subsist any Encumbrances over any of its assets or future assets except for Encumbrances arising by operation of law or by seller’s retention of title.

		
	14.3.2
	Change of business

No Obligor shall (and the Borrowers shall ensure that no other member of the Group will) make any substantial change to the ordinary business of any member of the Group or the Group as a whole (being sale, purchase and collection of Loan Portfolios) or the business of AK Nordic from that carried on at the date of this Agreement. For the avoidance of doubt, Non-Recourse Companies may invest in assets other than those which are invested in as a part of the general nature or scope of the business of the Group as a whole. 
		
	14.3.3
	Fees

No Obligor shall (and the Borrowers shall ensure that no member of the Group will) pay any fees or commissions to any person other than:
		
	a.
	on open market terms; or

		
	b.
	fees incurred under or in connection with any Finance Document. 

		
	14.3.4
	No financial support

No Obligor shall (and the Borrowers shall ensure that no member of the Group will) make any financial support (including but not limited to provision of loans, credit, guarantees, comfort letters, future commitments), other than:
		
	a.
	Intra-Group Loans to any Group Company, except Intra Group Loans to the Omega Securitization Fund exceeding a total of USD 1,000,000 ;

		
	b.
	Restructuring Intra-Group Loans;

		
	c.
	Injection of equity or granting of shareholder loans (in respect of the shareholder loans on terms and conditions acceptable to the Facility Agent (on behalf of the Majority Lenders)) by the Borrowers to a Non-Recourse Company provided that;

based on the latest Compliance Certificate and the latest Operating Budget (such Operating Budget to be acceptable to the Majority Lenders) the Borrowers is able to verify that immediately after the financial support being provided:
		
	A.
	the LTV Ratio to be below 55%;  

		
	B.
	GIBD Ratio for the Group to be below 2.0; and

		
	C.
	no Default has occurred and is continuing or would occur on the making of the financial support;

		
	d.
	Customary guarantees, in relation to a Portfolio Owner’s acquisition, of a Loan Portfolio, from the Borrowers to the seller: 

		
	i.
	before settlement; and 

		
	ii.
	after settlement provided such guarantees are not for the payment of an Acquisition Price other than the Acquisition Price of forward flow loan portfolios; 

		
	e.
	to the extent not covered by paragraph (f) of this Clause 14.3.4, guarantees, in relation to a Portfolio Owner’s acquisition of a Loan Portfolio, from the Borrowers to the seller subject to the approval of the Facility Agent (on behalf of the Lenders); 

		
	f.
	financial support provided by AK Nordic in its ordinary course of business; 

		
	g.
	financial support provided between a Portfolio Owner and a Collection Company in its ordinary course of business; 

		
	h.
	any financial support provided under the Cash Pool Agreement  in accordance with Clause 14.3.6 (Cash Pool Agreement); 

		
	i.
	Any financial support to any of the Borrower's parent companies PRA Group Europe Holding I S.à r.l., PRA Group Europe Holding II S.à r.l. and PRA Group Europe Holding III S.à r.l. which is not in aggregate for these three companies in excess of USD 1,000,000 per calendar year.

		
	j.
	in respect of real property leased by an Obligor in the ordinary course of business and on customary arm’s length terms;

		
	k.
	any other financial support to the extent approved by the Majority Lenders in writing; or

		
	l.
	any financial support not listed above and not exceeding the aggregate amount of USD 1,000,000 (for the Group). 

		
	14.3.5
	Indebtedness

		
	a.
	No Obligor (except for the Collection Companies) shall (and the Borrowers shall ensure that no member of the Group will) incur or permit to subsist any Indebtedness other than Permitted Indebtedness.

		
	b.
	The Borrowers shall ensure that no Collection Company shall incur or permit to subsist any Indebtedness other than Indebtedness arising by operation of law or in the ordinary course of business.

		
	c.
	The Borrowers shall procure that the AK Nordic Deposits which are not deposited as Earmarked Funds shall not at any time exceed SEK 1,500,000,000 unless approved by the Majority Lenders. The Borrowers shall ensure that AK Nordic shall only apply Earmarked Funds to repay the AK Nordic Deposits.

		
	14.3.6
	Cash Pool Agreement

		
	a.
	The Borrowers shall procure that funds which according to applicable law shall be held on a separate account or otherwise, shall not be transferred to any Cash Pool Account. 

		
	b.
	The Borrowers shall procure that only the Borrowers and the Portfolio Owners under this Agreement are participants under the Cash Pool Agreement.

		
	c.
	From 1 April 2015, only PRA Group Europe AS (formerly Aktiv Kapital AS) and the Borrowers shall be able to draw under the Cash Pool Agreement.

		
	14.3.7
	Merger and Acquisitions etc.

		
	a.
	Unless agreed by the Facility Agent (acting on the instructions of the Majority Lenders), no Obligor shall (and the Borrowers shall ensure that no member of the Group will) (i) enter into any amalgamation, de-merger, merger, reconstruction, combination, arrangement and plan of arrangement or similar transaction, or (ii) acquire any business of, or shares or securities of, any company (including but not limited to any shares in an unlimited liability person or the equivalent) or start up or enter into any joint venture or other legal entity irrespectively of whether the liabilities of such joint venture or person is unlimited except for:

		
	i.
	 a solvent re-organisation on a solvent basis of Group Companies, always provided that the Borrowers shall be a surviving entity (if the Borrowers is subject to the merger); and

		
	ii.
	the acquisition of single purpose companies that owns an Approved Loan Portfolio, or companies with a total equity value less than USD 50,000,000 per year (on an aggregate basis for the Group),

provided always that (i) none of the security interests created under the Security Documents are impaired, and (ii) the Borrowers prior to the transaction provide evidence satisfactory to the Facility Agent that the Group will remain in compliance with the financial undertakings set out in clause 14.4 (Financial undertakings) upon completion of the transaction.  
		
	14.3.8
	Transactions similar to security

No Obligor shall (and the Borrowers shall ensure that no member of the Group will) other than as permitted by the definition of “Permitted Encumbrance”:
		
	a.
	sell, transfer or otherwise make a Disposal of any of its assets on terms whereby it is or may be leased to or re-acquired or acquired by a Group Company or any of its related entities; or

		
	b.
	sell, transfer or otherwise make a Disposal of any of its receivables on recourse terms, except for the discounting of bills or notes in the ordinary course of trading on non-recourse terms,

in circumstances where the transaction is entered into primarily as a method of raising finance or of financing the acquisition of an asset.
		
	14.3.9
	Accounting and Auditors

No Obligor shall (and the Borrowers shall ensure that no member of the Group will):
		
	a.
	Change its Accounting Reference Date;

		
	b.
	change its Financial Year;

		
	c.
	change its Accounting Principles; or

		
	d.
	change its Auditors,

without the Majority Lenders’ written consent.
		
	14.3.10
	Corporate Structure

No Obligor shall (and the Borrowers shall ensure that no member of the Group will) change the corporate structure as set out in Schedule 7 (Group Structure), except as set out in the Restructuring of the Group. 
		
	14.3.11
	Ownership of Portfolio Owners 

The Borrowers shall ensure that all Portfolio Owners shall be, directly or indirectly, wholly owned by the Borrowers. 
		
	14.3.12
	Licencing requirements 

Neither the Borrowers, nor any of its Subsidiaries shall engage in business subject to any licence requirement unless such licence(s) are obtained and operated in accordance with the relevant requirements.
		
	14.3.13
	Management Agreement

The Management Agreement(s) shall be entered into on arm’s length principles containing a compensation level which is acceptable to the Facility Agent.
		
	14.3.14
	Compliance with laws

Each Obligor shall (and the Borrowers shall ensure that each member of the Group will) comply in all respects with all laws to which it may be subject, if failure so to comply has or is reasonably likely to have a Material Adverse Effect, each Obligor shall also (and the Borrowers shall ensure that any Subsidiary or other members of the Group will) at all times comply with all Sanctions Laws.

		
	14.3.15
	Sanctions

Each Obligor shall ensure that none of them, nor any of their Subsidiaries or other members of the Group, respective directors, officers, employees, and, to the best of their ability agents or representatives or any other persons acting on any of their behalf, is or will become a Restricted Party.
		
	14.4
	Financial undertakings

		
	14.4.1
	Financial definitions

In this Clause 14.4: 
“Aggregate Collections” means the aggregate amount received by the Security Portfolio Owners and/or Collection Companies (without double counting) for a relevant Period. 
“Book Value of Approved Loan Portfolios” means the book value of Approved Loan Portfolios (excluding any Loan Portfolio subject to a Permitted Encumbrance (other than any Encumbrance under the Finance Documents) or held by a company over which such an Encumbrance exists) as determined in accordance with the Accounting Principles and confirmed by an Auditor.
“EBITDA” means, in relation to any period the aggregate of: 
		
	(a)
	the operating profit of the Borrower on a consolidated basis save for Non-Recourse Companies, for that period (as reported in accordance with the IFRS as the relevant Accounting Principles); 

		
	(b)
	minus Interest income on portfolios during such period of the Borrower on a consolidated basis; 

		
	(c)
	plus negative changes in portfolio collection estimates during such period of the Borrower on a consolidated basis; 

		
	(d)
	minus positive changes in portfolio collection estimates during such period of the Borrower on a consolidated basis; 

		
	(e)
	plus paid in on portfolios with full twelve months trading for a Portfolio Owner during such period of the Borrower on a consolidated basis; 

		
	(f)
	plus depreciation of tangible fixed assets during such period; and

		
	(g)
	plus amortisation of intangible fixed assets during such period.

“ERC” means estimated remaining collections, meaning the gross remaining cash collections which the Security Portfolio Owners anticipate to receive from the Total Loan Portfolios (excluding such Total Loan Portfolios which is subject to or otherwise affected by an Encumbrance permitted under (d) of the definition of Permitted Encumbrance or held by a company over which such an Encumbrance exists) calculated based on the principles as set out in Schedule 11 (ERC Calculation Principles). 

“GIBD” means gross interest bearing debt, including the amount of any Lone Star Equity Commitment, but for the avoidance of doubt excluding any Shareholder Loans.
“GIBD Ratio” means the ratio of GIBD divided by the aggregate of EBITDA plus RFT (without double counting) calculated in line with the principles set out in Schedule 12 (GIBD Ratio Calculation Principles).
“LTV Ratio” means the percentage of Total Loans to the aggregate Book Value of Approved Loan Portfolios.
“RFT” means the pro-forma EBITDA for the remainder of the first twelve months for portfolios without full twelve months trading for a Portfolio Owner, to be based on actual EBITDA for the period the relevant portfolio has been owned by any Portfolio Owner aggregated to reflect pro-forma twelve months trading and further calculated in line with the principles set out in Schedule 12 (GIBD Ratio Calculation Principles). For the avoidance of doubt RFT cannot be an amount greater than 25% of EBITDA when calculating GIBD Ratio (i.e. RFT cannot constitute more than 20% of pro-forma adjusted EBITDA (including RFT)).
“Total Loans” means the aggregate of (i) any Loan, (ii) the Vendor Financing, (iii) the commitment under the Overdraft Facility, (iv) the AK Nordic Deposits less Earmarked Funds, (v) any debt as permitted under (g) of the definition of Permitted Indebtedness (where such portfolio is included in the calculation of ERC), and (vi) the amount of any Lone Star Equity Commitment. 
		
	14.4.2
	General

The financial undertakings set out in Clause 14.4.5 (GIBD Ratio) shall be measured on a consolidated basis for the Group adjusted for the Portfolio Owner’s share of the Omega Securitization Fund as set out in Clause 14.2.15(b)(iv), calculated in accordance with the Accounting Principles and all financial undertakings set out in this Clause 14.4 shall be measured on a quarterly basis with reference to each of the financial statements delivered  pursuant to Clause 14.1.1 (Financial statements).
		
	14.4.3
	LTV Ratio

The Borrowers undertake that, unless the Facility Agent (acting on the instructions of the Majority Lenders) otherwise agrees, the LTV Ratio shall not exceed 75%. 
		
	14.4.4
	Collection 

Aggregate Collection shall constitute minimum 95% of ERC for the same set of portfolios, measured monthly on a quarterly basis. The minimum ratio could be breached up to three times during the lifetime of this Agreement, provided that: 
		
	(a)
	the ratio does not at any time fall below 90%; and

		
	(b)
	such breach does not happen two quarters in a row. 

		
	14.4.5
	GIBD Ratio

		
	a.
	The Borrowers shall ensure that the GIBD Ratio of the Group (measured on a consolidated basis using the Accounting Principles) at all times, unless the Facility Agent (acting on the instructions of the Majority Lenders) 

otherwise agrees, does not exceed (i) 3.5:1.0 up until 31 March 2017 and (ii) 3.25:1.0 from and including 1 April 2017.
		
	b.
	The Borrowers shall not allocate or distribute any dividend during any period where the permitted GIBD Ratio or actual GIBD Ratio exceeds the applicable GIBD Ratio as determined in accordance with paragraph (a) above. 

		
	14.4.6
	Change in accounting principles

		
	a.
	If during the Security Period the accounting principles applied in the preparation of any of the Accounts shall be different from the Accounting Principles, or if as a result of the introduction or implementation of any accounting standard or any change in them or in any applicable law such accounting principles are required to be changed, the Borrower shall promptly give notice to the Facility Agent of that change, determination or requirement.

		
	b.
	If the Facility Agent or Borrower believes that the financial undertakings set out in this Clause 14.4 need to be amended as a result of any such change, determination or requirement, the Borrower and the Borrower and the Facility Agent, acting on the instructions of the Lenders, shall negotiate in good faith to amend the existing financial undertakings so as to provide the Lenders with substantially the same protections as the financial undertakings set out in this Clause 14.4 (but which are not materially more onerous).

		
	c.
	If the Borrower and the Facility Agent cannot agree such amended financial undertakings within thirty (30) days of that notice, the Borrower shall prepay any amount outstanding under the Finance Documents within ninety (90) days after the Facility Agent has provided the Borrower with a prepayment notice. 

		
	15.
	DEFAULT

		
	15.1
	Default

Each of the events or circumstances set out in Clause 15 is a Default (whether or not caused by any reason whatsoever outside the control of the Obligor or any other person).
		
	15.1.1
	Non-payment

An Obligor does not pay on the due date any amount payable by it under a Finance Document at the place and in the currency and funds in which it is expressed to be payable, unless the failure to pay such amount is due solely to administrative or technical delays and such amount is paid within five (5) Business Days after a notice from the Facility Agent.
		
	15.1.2
	Financial Undertakings

Any requirement in Clause 14.4 (Financial undertakings) is not satisfied at any time. 
		
	15.1.3
	Other defaults

Any Obligor breaches any of its obligations under any Finance Document (other than the obligations referred to in Clause 15.1.1 (Non-payment) and 15.1.2 (Financial Undertakings)) and, if that breach is capable of remedy, it is not remedied within thirty (30) days after notice of that breach has been given by the Facility Agent to the Borrowers.

		
	15.1.4
	Breach of representation or warranty

Any representation or warranty made or deemed to be repeated by any Group Company under any Finance Document is incorrect when made or deemed to have been repeated and if that breach is capable of remedy and it is not remedied within thirty (30) days after notice of that breach has been given by the Facility Agent to the Borrowers.
		
	15.1.5
	Cross-default

Any Indebtedness (which for the purpose of this clause shall include the Lone Star Equity Commitment) (other than Indebtedness under a Finance Document) of all or any of the Group Companies in excess of, in aggregate, USD 2,000,000 (or equivalent in other currencies):
		
	a.
	is not paid when due or within any applicable grace period;

		
	b.
	is declared to be or otherwise becomes due and payable prior to its specified maturity by reason of a default or an event of default (howsoever described); or

		
	c.
	any creditor of all or any of the Group Companies becomes entitled to declare any such Indebtedness due and payable prior to its specified maturity by reason of a potential default or an event of default (howsoever described).

		
	15.1.6
	Attachment or distress

A creditor or encumbrancer attaches or takes possession of, or a distress, execution, sequestration or other process is levied or enforced upon or sued out against, any of the assets of any Group Company (having a value of at least USD 2,000,000 or equivalent in other currencies) and such process is not proved to the reasonable satisfaction of the Majority Lenders to be frivolous or vexatious and is, in any event, not discharged within thirty (30) days of its presentation or challenged on grounds reasonably satisfactory to the Majority Lenders.
		
	15.1.7
	Inability to pay debts

Any Group Company:
		
	a.
	suspends payment of its debts or is unable or admits its inability to pay its debts as they fall due;

		
	b.
	begins negotiations with any creditor with a view to the readjustment or rescheduling of any of its Indebtedness (which for the purpose of this clause shall include the Lone Star Equity Commitment) which it would not otherwise be able to pay when it falls due; or

		
	c.
	proposes or enters into any re-organisation, composition or other arrangement for the benefit of its creditors generally or any class of creditors.

		
	d.
	Is over -indebted (überschuldet) within the meaning of Article 725 para.2 of the Swiss Federal Code of Obligations or the value of its assets is less than its liabilities (taking into account contingent and prospective liabilities).

		
	e.
	A moratorium is declared in respect of any indebtedness (which for the purpose of this clause shall include the Lone Star Equity Commitment) of an Obligor. If a moratorium occurs, the ending of the moratorium will remedy any Default caused by that moratorium.

		
	15.1.8
	Insolvency proceedings

Any person takes any action or any legal proceedings are started or other steps taken (including the presentation of a petition) for:
		
	a.
	the bankruptcy, liquidation, composition, suspension of payments, compulsory debt settlement, re organisation, winding up or dissolution of any Group Company other than (A) in connection with a solvent reconstruction, the terms of which have been previously approved in writing by the Majority Lenders, or (B) a winding up or bankruptcy or petition which is proved to the reasonable satisfaction of the Majority Lenders to be frivolous or vexatious and which is, in any event, discharged within fifteen (15) days of its presentation or challenged on grounds reasonably satisfactory to the Facility Agent; or

		
	b.
	the appointment of a trustee, receiver, administrative receiver or similar officer in respect of any Group Company or any of its assets.

		
	15.1.9
	Adjudication or appointment

Any adjudication, order or appointment is made under or in relation to any of the proceedings referred to in Clause 15.1.8 (Insolvency proceedings).
		
	15.1.10
	Analogous proceedings

Any event occurs or proceeding is taken with respect to any Group Company in any jurisdiction to which it is subject which has an effect equivalent or similar to any of the events mentioned in Clause 15.1.7 (Inability to pay debts), 15.1.8 (Insolvency proceedings) or 15.1.9 (Adjudication or appointment).
		
	15.1.11
	Cessation of business

Any Group Company suspends, ceases or threatens to suspend or cease to carry on all or a substantial part of its business other than in relation to a merger with another Group Company in accordance with this Agreement or otherwise approved by the Facility Agent as instructed by the Majority Lenders.
		
	15.1.12
	Invalidity or repudiation

		
	a.
	Any of the Finance Documents ceases to be in full force and effect in any material respect or (A) ceases to constitute the legal, valid and binding obligation of any Group Company party to it, or (B) in the case of any Security Document, fails to provide valid and enforceable security in favour of the Security Agent and the Finance Parties over the assets in relation to which security is intended to be given.

		
	b.
	It is unlawful for any Group Company to perform any of its material obligations under any of the Finance Documents.

		
	c.
	Any Group Company repudiates any of its obligations under any Finance Document.

		
	15.1.13
	Regulatory Proceedings

Any regulatory or other proceedings are instigated by any competition or similar authority (including the Competition Authority and the European Commission) as a result of the Finance Documents having been entered into or implemented and the same has, or is likely to have, a Material Adverse Effect.

		
	15.1.14
	Litigation

Any litigation, arbitration or administrative proceeding is commenced by or against any Group Company which is reasonably likely to be resolved against the relevant Group Company and if so resolved, is likely to have a Material Adverse Effect.
		
	15.1.15
	Mandatory Liquidation Event

AK Nordic (or any other Group Company holding licenses) does not comply with the relevant licence requirements it is subject to at any one time.
		
	15.1.16
	Material adverse change

Any event or series of events occurs which, in the reasonable opinion of the Majority Lenders, has or is likely to have a Material Adverse Effect.
		
	15.1.17
	Unlawfulness and invalidity

		
	a.
	It is or becomes unlawful for an Obligor to perform any of its obligations under the Finance Documents or any security created or expressed to be created or evidenced by the Security Documents ceases to be effective or becomes unlawful.

		
	b.
	Any obligation or obligations of any Obligor under any Finance Documents are not or cease to be legal, valid, binding or enforceable and the cessation individually or cumulatively materially and adversely affects the interests of the Lenders under the Finance Documents.

		
	c.
	Any Finance Document ceases to be in full force and effect or any Security created or intended to be created under the Security Documents or any subordination required pursuant to this Agreement ceases to be legal, valid, binding, enforceable or effective or is alleged by a party to it (other than a Finance Party) to be ineffective.

		
	15.2
	Acceleration, etc.

If a Default occurs the Facility Agent may and shall if so instructed by the Majority Lenders, by notice (a “Default Notice”) to the Borrowers to cancel the Facility and require the Borrowers immediately to repay each Loan together with accrued interest and all other sums payable under the Finance Documents, whereupon they shall become immediately due and payable. Upon the service of any Default Notice, the Lenders’ obligations to each Borrowers under this Agreement shall be terminated and the Commitment of each Lender shall be cancelled, and the Lenders may exercise or direct the Agent to exercise any or all of its rights, remedies, powers or discretions under the Finance Documents.
		
	16.
	SET-OFF

Each Agent and each Lender may set off any matured obligation owed by an Obligor under any Finance Document against any obligation (whether or not matured) owed by the relevant Agent or the relevant Lender to that Obligor, or to another Obligor (to the extent permissible pursuant to law) regardless of the place of payment, booking branch or currency of either obligation. If the obligations are in different currencies, the relevant Agent or the relevant Lender may convert either obligation at the relevant spot rate of exchange of the Facility Agent or the relevant Lender, as the case may be, for the purpose of the set off.

		
	17.
	PRO RATA SHARING

		
	17.1
	Redistribution

If any amount owing by an Obligor under this Agreement to a Finance Party (the “Sharing Lender”) is discharged by voluntary or involuntary payment, set off or any other manner other than through the Facility Agent in accordance with Clause 19 (Payments), then:
		
	a.
	the Sharing Lender shall immediately notify the Facility Agent of the amount discharged and the manner of its receipt or recovery;

		
	b.
	the Facility Agent shall determine whether the amount discharged is in excess of the amount which the Sharing Lender would have received had the amount discharged been received by the Facility Agent and distributed in accordance with Clause 19 (Payments);

		
	c.
	the Sharing Lender shall pay the Facility Agent an amount equal to that excess (the “Excess Amount”) within five (5) Business Days of demand by the Facility Agent;

		
	d.
	the Facility Agent shall treat the Excess Amount as if it were a payment by an Obligor under Clause 19 (Payments) and shall pay the Excess Amount to the Finance Parties (other than the Sharing Lender) in accordance with such clause; and

		
	i.
	on a redistribution of payments under Clause 17.1(d) above, the Sharing Lender shall be subrogated to the rights of each Finance Party which have shared in the redistribution;

		
	ii.
	if and to the extent that the Sharing Lender is not able to rely on its rights under Clause 17.1 (Redistribution) above, the relevant Obligor shall be liable to the Sharing Lender for a debt equal to the Excess Amount which is immediately due and payable;

		
	iii.
	if and to the extent that the Sharing Lender is not able to rely on its rights under Clause 17.1(d)(i) and 17.1(d)(ii) above, each Finance Party (other than the Sharing Lender) hereby agrees to indemnify the Sharing Lender against any loss which the Sharing Lender may subsequently suffer by reason of this Clause 17 including but not limited to any such redistribution having to be refunded or having made such payment of the Excess Amount to the Facility Agent or any loss resulting from the Sharing Lender not being able to claim its pro rata share of the Loans.

		
	17.2
	Legal proceedings

Notwithstanding Clause 17.1 (Redistribution), no Sharing Lender shall be obliged to share any Excess Amount which it receives or recovers pursuant to legal proceedings taken by it to recover any sums owing to it under this Agreement with any other Finance Party which has a legal right to, but does not, either join in such proceedings or commence and diligently pursue separate proceedings to enforce its rights, unless the proceedings instituted by the Sharing Lender are instituted by it without prior notice having been given to such Finance Party through the Facility Agent and an opportunity to such Finance Party to join in such proceedings.

		
	17.3
	Reversal of redistribution

If any Excess Amount subsequently has to be wholly or partly refunded to an Obligor by a Sharing Lender which has paid an amount equal to that Excess Amount to the Facility Agent under Clause 17.1 (Redistribution), each Finance Party to which any part of that amount was distributed shall on request from the Sharing Lender repay to the Sharing Lender that Finance Party’s proportionate share of the amount which has to be so refunded by the Sharing Lender.
		
	17.4
	Information

Each Finance Party shall on request supply to the Facility Agent such information as the Facility Agent may from time to time request for the purpose of this Clause 17.
		
	18.
	THE AGENTS, THE MANDATED LEAD ARRANGERs, the bookrunner AND THE LENDERS

		
	18.1
	Appointment and duties

		
	18.1.1
	Each Lender irrevocably appoints the Agents to act as its agents in connection with the Facility and the Finance Documents and irrevocably authorises each Agent on its behalf to perform the duties and to exercise the rights, powers and discretions that are specifically delegated to it under or in connection with the Finance Documents together with any other incidental rights, powers and discretions.

		
	18.1.2
	An Agent shall have no duties or responsibilities except those expressly set out in the Finance Documents. As to any matters not expressly provided for, the Agent shall act in accordance with the instructions of the Majority Lenders (but in the absence of any such instructions shall not be obliged to act). Any such instructions, and any action taken by each Agent in accordance with those instructions, shall be binding upon all the Lenders.

		
	18.1.3
	Each Agent may:

		
	a.
	act in an agency, fiduciary or other capacity on behalf of any other Lenders or financial institutions providing facilities to any Group Company or any associated company of a Group Company, as freely in all respects as if it had not been appointed to act as agent for the Lenders under this Agreement and without regard to the effect on the Lenders of acting in such capacity; and

		
	b.
	subscribe for, hold, be beneficially entitled to or dispose of shares or securities, or options or other rights to and interests in shares or securities in any Group Company or any associated company of a Group Company (in each case, without liability to account).

		
	18.1.4
	The Security Agent is hereby irrevocably authorised by the Facility Agent, the Bookrunner and the Lenders to sign and execute on behalf of such party all and any Finance Document including any appendices or documents relating thereto. To that effect, each of the Lenders may grant as many private and public documents (including certificates and notarial powers of attorney duly apostilled) and comply with as many formalities as may be necessary or convenient under each relevant jurisdiction. 

		
	18.1.5
	The Facility Agent is hereby irrevocably authorised by the Security Agent, the Bookrunner and the Lenders to sign and execute on behalf of such party all and any Finance Document including any appendices or documents relating thereto. To that effect, each of the Lenders may grant as many private and public documents (including certificates and notarial powers of attorney duly apostilled) and comply with as many formalities as may be necessary or convenient under each relevant jurisdiction.

		
	18.1.6
	In relation to any Polish Obligor and/or Security granted by any Party incorporated under the laws of Poland  the Lenders hereby appoint the Security Agent to act as the pledge administrator (administrator zastawu) in the meaning of the Polish Act on Registered Pledge and the Pledge Register as of 6 December 1996 (Journal of Laws of 1996, No. 149, item 703, as amended) in respect of any registered pledge(s) to be established in order to secure the receivables of the Lenders under the this Agreement. The Security Agent is hereby irrevocably authorised by the Lenders to sign and execute on behalf of the Lenders all and any agreements on registered pledge(s) governed by Polish law and exercising the rights and obligations of the pledgee in its own name but on behalf of all Lenders. This provision 18.1.6. shall be governed by and construed in accordance of the Polish law.

		
	18.2
	Payments

		
	18.2.1
	Each Agent shall promptly account to the lending office of each Lender for such Lender’s due proportion of all sums received by the Agent for such Lender’s account, whether by way of repayment or prepayment of principal or payment of interest, fees or otherwise.

		
	18.2.2
	The Facility Agent shall maintain a memorandum account showing the principal amount of each Loan outstanding under this Agreement and the amount of each Lender’s Participation in each Loan.

		
	18.2.3
	Each Lender confirms in favour of each Agent that, unless it notifies the Agent to the contrary, it will be the beneficial owner of any interest paid to it under this Agreement.

		
	18.3
	Default

An Agent shall not be obliged to monitor or enquire as to whether or not a Default or Potential Default has occurred. Each Agent shall be entitled to assume that no Default or Potential Default has occurred unless it receives notice to the contrary from an Obligor or any Finance Party describing the Default or Potential Default and stating that such notice is a “Default Notice” or unless it is aware of a payment default under this Agreement, in which case it shall promptly notify each Lender.
		
	18.4
	Reliance

Each Agent may:
		
	a.
	rely on any communication or document believed by it to be genuine and correct and to have been communicated or signed by the person by whom it purports to be communicated or signed; and

		
	b.
	engage, pay for and rely on the advice of any professional advisers selected by it given in connection with the Finance Documents or any of the matters contemplated by the Finance Documents,

and shall not be liable to any Party for any of the consequences of such reliance.

		
	18.5
	Legal proceedings

		
	18.5.1
	No Agent shall be obliged to take or commence any legal action or proceeding against an Obligor or any other person arising out of or in connection with the Finance Documents until it shall have been indemnified or secured to its satisfaction against all costs, claims and expenses (including any costs award which may be made against it as a result of any such legal action or proceeding not being successful) which it may expend or incur in such legal action or proceeding.

		
	18.5.2
	Each Agent may refrain from doing anything which might in its opinion constitute a breach of any law or any duty of secrecy or confidentiality or be otherwise actionable at the suit of any person.

		
	18.6
	No liability

		
	18.6.1
	None of the Facility Agent, the Security Agent, the Bookrunner and/or the Mandated Lead Arrangers shall be responsible for any statements, representations or warranties in the Finance Documents or for any information supplied or provided to any Lender by the Facility Agent or the Security Agent or the Bookrunner in respect of an Obligor or any other person or for any other matter relating to the Finance Documents or for the execution, genuineness, validity, legality, enforceability or sufficiency of such documents or any other document referred to in the Finance Documents or for the recoverability of any Loan or any other sum to become due and payable under the Finance Documents.

		
	18.6.2
	None of the Facility Agent, the Security Agent, the Bookrunner and/or the Mandated Lead Arrangers nor any of their respective agents shall be liable for any action taken or not taken by any of them under or in connection with the Finance Documents unless directly caused by its or their gross negligence or wilful misconduct.

		
	18.7
	Credit decisions

		
	18.7.1
	Each Lender:

		
	a.
	acknowledges that it has, independently and without reliance on any Agent, made its own analysis of the transaction contemplated by, and reached its own decision to enter into, this Agreement and made its own investigation of the financial condition and affairs and its own appraisal of the creditworthiness of the Obligors and any surety for the Obligors’ obligations; and

		
	b.
	shall continue to make its own independent appraisal of the creditworthiness of the Obligors and any surety for the Obligors’ obligations.

		
	18.7.2
	Each Lender shall, independently and without reliance on any Agent, make its own decision to take or not take action under the Finance Documents.

		
	18.8
	Information

		
	18.8.1
	The Facility Agent shall promptly provide the Lenders and/or the Security Agent with all information and copies of all notices which are given to it and which by the terms of this Agreement are to be provided or given to the Lenders and/or the Security Agent, as the case may be.

		
	18.8.2
	Except as provided in this Agreement, the relevant Agent shall be under no duty or obligation:

		
	a.
	either initially or on a continuing basis, to provide any Lender with any credit information or other information with respect to the financial condition of an Obligor or which is otherwise relevant to the Facility; or

		
	b.
	to request or obtain any certificate, document or information from an Obligor unless specifically requested to do so by a Lender in accordance with this Agreement.

		
	18.9
	Relationship with Lenders

		
	18.9.1
	In performing its functions and duties under this Agreement, an Agent shall act solely as the agent for the Lenders and except as provided in the Finance Documents shall not be deemed to be acting as trustee for any Lender. No Agent shall assume or be deemed to have assumed any obligation as agent for, or any relationship of agency with, any Obligor.

		
	18.9.2
	Neither the Facility Agent, the Security Agent nor any Lender shall be under any liability or responsibility of any kind to an Obligor or any other Lender arising out of or in relation to any failure or delay in performance or breach by an Obligor or any other Lender of any of its or their respective obligations under the Finance Documents.

		
	18.10
	The Agents’ position

		
	18.10.1
	With respect to its own Participation in the Facility, an Agent shall have the same rights and powers under and in respect of the Finance Documents as any other Lender and may exercise those rights and powers as though it were not also acting as agent under this Agreement or any other Finance Document. An Agent may, without liability to account, accept deposits from, lend money to and generally engage in any kind of lending finance, advisory, trust or other business with or for an Obligor as if it were not the agent for other persons under any Finance Documents.

		
	18.10.2
	Each Agent may retain for its own use and benefit (and shall not be liable to account to any Lender for all or any part of) any sums received by it by way of agency or management or arrangement fees or by way of reimbursement of expenses incurred by it.

		
	18.11
	Indemnity

Each Lender shall immediately on demand indemnify any Agent (to the extent not reimbursed by the Obligors) rateably according to that Lender’s Participation in the Facility (or, if no Loan shall then be outstanding, its Commitment) from and against all liabilities, losses and expenses of any kind or nature whatsoever (except in respect of any agency, management or other fee due to the Facility Agent or the Security Agent) which may be incurred by the Facility Agent or the Security Agent in its capacity as agent under the Finance Documents or in any way relating to or arising out of the Finance Documents or any action taken or omitted by the Facility Agent or the Security Agent in enforcing or preserving the rights of the Lenders, the Facility Agent or the Security Agent under the Finance Documents, provided that no Lender shall be liable for any portion of such liabilities, losses or expenses resulting from the Facility Agent’s or the Security Agent’s gross negligence or wilful misconduct.
		
	18.12
	Resignation and Removal

		
	18.12.1
	Each Agent may resign by giving at least sixty (60) days’ notice to the Borrowers and each Lender. Upon service of a notice of resignation by the relevant Agent, the Majority Lenders may select any Lender or other financial institution as successor Agent.

		
	18.12.2
	If no Lender or other financial institution selected by the Majority Lenders shall have accepted such appointment within forty (40) days after the giving of a notice of resignation then the resigning Agent may, appoint any Lender or other financial institution with an office in Oslo or London (or another city agreed by the Majority Lenders) as successor Agent.

		
	18.12.3
	The resignation of an Agent and the appointment of any successor the Agent shall both become effective only upon the successor Agent notifying the resigning Agent, the Borrowers and each Lender that it accepts its appointment. On such notification:

		
	a.
	the resigning Agent shall be discharged from its obligations and duties as Agent under the Finance Documents but it shall continue to be able to rely on the provisions of this Clause 18 in respect of all matters relating to the period of its appointment; and

		
	b.
	the successor Agent shall assume the role of Agent and shall have all the rights, powers, discretions and duties which the Agent has under the Finance Documents.

		
	18.12.4
	The resigning Agent shall make available to the successor Agent all records and documents held by it as Agent and shall co-operate with the successor Agent to ensure an orderly transition. Additionally, the Parties will enter as many private and public documents as may be necessary for the Security Documents to remain as security in favour of the Finance Parties and/or the Lenders under this Agreement from time to time. 

		
	18.13
	Distribution of proceeds of enforcement

		
	18.13.1
	In this Clause 18.13:

“Lender Outstandings” means, in respect of a Lender, the aggregate of:
		
	a.
	all amounts actually and contingently due to it under this Agreement; and

		
	b.
	all amounts actually and contingently due to it in respect of the Hedging Agreements.

“Total Outstandings” means the aggregate amount of all Lender Outstandings.
		
	18.13.2
	On the enforcement of all or any of the Security Documents any amounts to be distributed to each Lenders shall be distributed with an amount equal to the remaining proceeds multiplied by (Lender Outstandings of such Lender divided by Total Outstandings) where Lender Outstandings and the Total Outstandings are all calculated as at the date of distribution and after the provisions of Clauses 17.1 (Redistribution) and 17.3 (Reversal of redistribution) have been complied with.

		
	18.13.3
	Where any part of any Lender Outstandings is denominated in a currency other than USD, any calculation for the purposes of this Clause 18.13 shall be made on the basis of the USD Equivalent of that part calculated at the date of distribution. However, an actual distribution may, in the Facility Agent’s discretion, be made in the currencies of the Lender Outstandings and for this purpose the Facility Agent is authorised to convert any proceeds of enforcement (including the proceeds of any previous conversion under this Clause) from their existing currency into any other currency at such rate of exchange and at such time as the Facility Agent thinks fit.

		
	18.13.4
	The Facility Agent shall notify each Lender of any proposed distribution and the proposed date of distribution and each Lender shall provide to the Facility Agent a calculation of what is due to it in respect of the sums referred to in Clause 18.13.1. The Facility Agent shall send copies of all such calculations to each Lender and shall make the distributions on the basis of such calculations.

		
	18.13.5
	If any future or contingent liability included in the calculation of Lender Outstandings finally matures, or is settled, for less than the future or contingent amount provided for in that calculation, the relevant Lender shall notify the Facility Agent of that fact and such adjustment shall be made by payment by that Lender to the Facility Agent for distribution amongst the Lenders as may be necessary to put the Lenders into the position they would have been in (but taking no account of the time cost of money) had the original distribution been made on the basis of the actual as opposed to the future or contingent liability.

		
	18.13.6
	The Facility Agent may, at its discretion, accumulate proceeds of enforcement in an interest bearing account in its own name until there is a minimum of USD 5,000,000 to distribute under Clause 18.13.2.

		
	18.14
	The Bookrunner and Mandated Lead Arrangers

Except as specifically provided in this Agreement the Bookrunner or the Mandated Lead Arrangers have no obligation of any kind to any other Party and shall not have any liability whatsoever to any other Party under or in connection with any Finance Document.
		
	19.
	PAYMENTS

		
	19.1
	Place and time

All payments by an Obligor or a Lender under this Agreement shall be made to the Facility Agent to its account at such office or Lender at such time as the Facility Agent may notify the Obligors or the Lenders for this purpose.
		
	19.2
	Funds

All payments to the Facility Agent under this Agreement shall be made for value on the due date in freely transferable and readily available funds.
		
	19.3
	Distribution

		
	19.3.1
	Each payment received by the Facility Agent under this Agreement for another Party shall, subject to Clauses 19.3.2 and 19.3.3, be made available by the Facility Agent to that Party by payment to its account with such office or Lender as it may notify to the Facility Agent for this purpose by not less than three (3) Business Days’ prior notice.

		
	19.3.2
	The Facility Agent shall apply any amount received by it for an Obligor in or towards payment of any amount due from that Obligor or, so far as legally permissible, any other Obligor under this Agreement.

		
	19.3.3
	Where a sum is to be paid to the Facility Agent under this Agreement for another Party, the Facility Agent is not obliged to pay that sum to that Party until it has established that it has actually received that sum. The Facility Agent may, however, assume that the sum has been paid to it in accordance with this Agreement, and, in reliance on that assumption, make available to that Party a corresponding amount. If the sum has not been made available but the Facility Agent has paid a corresponding amount to another Party, that Party shall immediately on demand by the Facility Agent refund the corresponding amount together with interest on that amount from the date of payment to the date of receipt, calculated at a rate determined by the Facility Agent to reflect its cost of funds.

		
	19.4
	Business Days

If a payment under this Agreement is due on a day which is not a Business Day, the due date for that payment shall instead be the next Business Day in the same calendar month (if there is one) or the preceding Business Day (if there is not).

		
	19.5
	Currency

In this Agreement:
		
	a.
	all payments by an Obligor in respect of a Loan, whether of interest or principal, shall be made in the currency (or the denomination of the currency) in which that Loan is denominated;

		
	b.
	all payments relating to costs, losses, expenses or Taxes shall be made in the currency in which the relevant costs, losses, expenses or Taxes were incurred; and

		
	c.
	any other amount payable under this Agreement shall be made in USD or the relevant currency (as applicable).

		
	19.6
	Accounts as evidence

Each Lender shall maintain in accordance with its usual practice an account which shall, as between the Borrowers and that Lender, be prima facie evidence of the amounts from time to time advanced by, owing to, paid and repaid to that Lender under this Agreement.
		
	19.7
	Partial payments

		
	19.7.1
	If the Facility Agent receives a payment insufficient to discharge all the amounts then due and payable by an Obligor under this Agreement, the Facility Agent shall apply that payment towards the obligations of that Obligor in the following order:

		
	a.
	first, in or towards payment of any unpaid costs and expenses of the Facility Agent and/or the Security Agent under this Agreement or the Security Documents;

		
	b.
	second, in or towards payment pro rata of any accrued interest due by that Obligor but unpaid under this Agreement;

		
	c.
	third, in or towards payment pro rata any other sum due by that Obligor but unpaid under the Finance Documents.

		
	19.7.2
	The Facility Agent shall, if so directed by all the Lenders, vary the order set out in Clauses 19.7.1(b) to 19.7.1(c).

		
	19.7.3
	Clauses 19.7.1 and 19.7.2 shall override any appropriation made by any Obligor.

		
	19.8
	Set-off and counterclaim

All payments by any Obligor under this Agreement shall be made without set off or counterclaim.
		
	19.9
	Grossing-up

		
	19.9.1
	Subject to Clause 19.9.2, all sums payable to a Finance Party pursuant to or in connection with any Finance Document shall be paid in full free and clear of all deductions or withholdings whatsoever except only as may be required by law.

		
	19.9.2
	If any deduction or withholding is required by law in respect of any payment due from an Obligor to a Finance Party pursuant to or in connection with any Finance Document, that Obligor shall:

		
	a.
	ensure or procure that the deduction or withholding is made and that it does not exceed the minimum legal requirement therefor;

		
	b.
	pay, or procure the payment of, the full amount deducted or withheld to the relevant Taxation authority or other authority in accordance with the applicable law;

		
	c.
	increase the payment in respect of which the deduction or withholding is required so that the net amount received by the payee (which expression when used in this Clause 19.9.2 shall mean each Finance Party) after the deduction or withholding (and after taking account of any further deduction or withholding which is required to be made as a consequence of the increase) shall be equal to the amount which the payee would have been entitled to receive in the absence of any requirement to make any deduction or withholding; and

		
	d.
	promptly deliver or procure the delivery to the relative payee of receipts evidencing each deduction or withholding which has been made.

		
	19.9.3
	If the Facility Agent is obliged to make any deduction or withholding from any payment to any Lender (an “Agency Payment”) which represents an amount or amounts received by that Agent from an Obligor under any Finance Document, that Obligor shall pay directly to that Lender such sum (an “Agency Compensating Sum”) as shall, after taking into account any deduction or withholding which that Obligor is obliged to make from the Agency Compensating Sum, enable that Lender to receive, on the due date for payment of the Agency Payment, an amount equal to the Agency Payment which that Lender would have received in the absence of any obligation to make any deduction or withholding.

		
	19.9.4
	If any Lender determines that it has received, realised, utilised and retained a Tax benefit by reason of any deduction or withholding in respect of which an Obligor has made an increased payment or paid an Agency Compensating Sum under this Clause 19.9, that Lender shall, provided that each Finance Party have received all amounts which are then due and payable by the Obligors under any Finance Document, pay to that Obligor (to the extent that that Lender can do so without prejudicing the amount of the benefit or repayment and the right of that Lender to obtain any other benefit, relief or allowance which may be available to it) such amount, if any, that will leave that Lender in no worse position than it would have been in if the deduction or withholding had not been required, provided that:

		
	a.
	each Lender shall have an absolute discretion as to the time at which and the order and manner in which it realises or utilises any Tax benefit and shall not be obliged to arrange its business or its Tax affairs in any particular way in order to be eligible for any credit or refund or similar benefit;

		
	b.
	no Lender shall be obliged to disclose any information regarding its business, Tax affairs or Tax computations;

		
	c.
	if a Lender has made a payment to an Obligor pursuant to this Clause 19.9.4 on account of any Tax benefit and it subsequently transpires that that Lender did not receive that Tax benefit, or received a lesser Tax benefit, that Obligor shall, on demand, pay to that Lender such sum as that Lender may determine as being necessary to restore its after-tax position to that which it would have been had no adjustment under this Clause 19.9.4 been made.

		
	19.9.5
	No Lender shall be obliged to make any payment under Clause 19.9.4 if, by doing so, it would contravene the terms of any applicable law or any notice, direction or requirement of any governmental or regulatory authority (whether or not having the force of law).

		
	19.9.6
	If an Obligor is required to make an increased payment for the account of a Lender under Clause 19.9.2, then, without prejudice to that obligation and so long as such requirement exists and subject to the Borrowers giving the Facility Agent and that Lender not less than ten (10) days’ prior notice (which shall be irrevocable), the Obligors may prepay all, but not part, of that Lender’s Participation in the Loans together with accrued interest on the amount prepaid. Any such prepayment shall be subject to Clause 24.1 (Breakage costs indemnity). On any such prepayment, the Commitment of the relevant Lender shall be automatically cancelled.

		
	20.
	AMENDMENTS AND WAIVERS

		
	20.1
	Majority Lenders

		
	20.1.1
	Subject to Clause 20.2 (All Lenders), any term of any Finance Document, save for any Finance Documents relating thereto, may be amended or waived with the written agreement of the Borrowers and the Majority Lenders. The Facility Agent and the Security Agent (as applicable) may effect and are irrevocably authorised, on behalf of the Finance Parties, to execute an amendment or waiver to which the Majority Lenders have agreed.

		
	20.1.2
	The Facility Agent shall promptly notify the Borrowers and each Lender of any amendment or waiver effected under Clause 20.1.1 and any such amendment or waiver shall be binding on the Borrowers, each Obligor, each Group Company and each Finance Party.

		
	20.2
	All Lenders

An amendment or waiver which relates to:
		
	a.
	the definition of “Majority Lenders” in Clause 1.1 (Definitions);

		
	b.
	an extension of the date for, or a decrease in an amount or a change in the currency of, any payment under any Finance Document;

		
	c.
	an increase in a Lender’s Commitment;

		
	d.
	a term of any Finance Document which expressly requires the consent of each Lender; or

		
	e.
	Clauses 6 (Interest), 7 (Reduction, Repayment, prepayment and cancellation) , 17 (Pro rata sharing), or this Clause 20 (Amendments and Waivers),

may not be effected without the prior written consent of each Lender.
		
	20.3
	Security Agent

An amendment or waiver which affects the rights and/or obligations of the Security Agent in that capacity may not be effected without the prior written consent of the Security Agent.
		
	20.4
	No implied waivers; remedies cumulative

The rights of the Finance Parties under the Finance Documents:
		
	a.
	may be exercised as often as necessary;

		
	b.
	are cumulative and not exclusive of its rights under the general law; and

		
	c.
	may be waived only in writing and specifically.

Delay in exercising or non-exercise of any such right is not a waiver of that right.
		
	21.
	MISCELLANEOUS

		
	21.1
	Severance

If any provision of this Agreement is or becomes illegal, invalid or unenforceable in any jurisdiction, that shall not affect:
		
	a.
	the legality, validity or enforceability in that jurisdiction of any other provision of this Agreement; or

		
	b.
	the legality, validity or enforceability in any other jurisdiction of that or any other provision of this Agreement.

		
	21.2
	Counterparts

This Agreement may be executed in any number of counterparts and this shall have the same effect as if the signatures on the counterparts were on a single copy of this Agreement.
		
	21.3
	Obligations Binding

The obligations of the Parties who have executed this Agreement shall not be affected by the fact that not all of the Parties have validly executed this Agreement.
		
	22.
	NOTICES

		
	22.1
	Method

Each notice or other communication to be given under this Agreement shall be given in writing in English and, unless otherwise provided, shall be made by e-mail or letter.
		
	22.2
	Delivery

Any notice or other communication to be given by one Party to another under this Agreement shall (unless one Party has by ten (10) days’ notice to the other Party specified another address) be given to that other Party, in the case of the Borrowers, the Obligors, the Facility Agent, the Security Agent, at the respective addresses given in Clause 22.3 (Addresses), in the case of the Lenders, at the respective addresses given in Schedule 1 or, as the case may be, the schedule to its relevant Transfer Certificate and in the case of any Borrower or Obligor (other than the Borrowers) as set out in the schedule to its relevant Accession Agreement.
		
	22.3
	Addresses

The address and e-mail address number of the Borrowers, the Facility Agent, and the Security Agent:
		
	a.
	The Borrowers:

PRA Group Europe Holding S.à r.l. 
42-44, Avenue de la Gare 
L-1610 Luxembourg 
Luxembourg 
Attention: Vice President Finance in PRA Group Europe 
E-mail: christopher.hagberg@pragroup.no

		
	b.
	The Facility Agent:

DNB Bank ASA
N-0021 Oslo, Norway
Attention: Agentdesk  
E-mail: agentdesk@dnb.no

		
	c.
	The Security Agent:

DNB Bank ASA
N-0021 Oslo, Norway
Attention: Agentdesk
E-mail; agentdesk@dnb.no 
		
	22.4
	Deemed receipt

		
	22.4.1
	Any notice or other communication given by any Agent shall be deemed to have been received:

		
	a.
	if sent by e-mail, when received in a readable form and only if addressed in such manner as the Agent shall specify for this purpose;

		
	b.
	in the case of a notice given by hand, on the day of actual delivery; and

		
	c.
	if posted, on the second Business Day or, in the case of mail from one country to another country, the fifth Business Day following the day on which it was despatched by first class mail postage prepaid or, as the case may be, airmail postage prepaid,

provided that a notice given in accordance with the above but received on a day which is not a Business Day or after normal business hours in the place of receipt shall be deemed to have been received on the next Business Day.
		
	22.4.2
	Any notice or other communication given to any Agent shall be deemed to have been given only on actual receipt.

		
	22.5
	Notices through Facility Agent

Any notice or other communication from or to an Obligor under this Agreement shall be sent through the Facility Agent.
		
	23.
	ASSIGNMENTS, TRANSFERS AND ACCESSION

		
	23.1
	Benefit of Agreement

This Agreement shall be binding upon and inure to the benefit of each Party and its successors and assigns.
		
	23.2
	Assignments and transfers by Obligors

No Obligor shall be entitled to assign or transfer any of its rights or obligations under the Finance Documents.

		
	23.3
	Assignments by Lenders

		
	23.3.1
	Any Lender may assign, in accordance with this Clause 23.3, any of its rights and obligations under this Agreement to (i) any other Lender, (ii) any company being controlled by any Lender or under the control of the same legal entity as any Lender (where control shall have the same meaning mutatis mutandis as set out in the definition of “Subsidiary”), (iii) to any other financial institution upon the occurrence of a Default, or (iv) to any other financial institution, in a minimum amount of USD 2,000,000, provided, in each case, that such assignment does not result in a breach of the Swiss Ten Non-Bank Rule, and provided in each case that:

		
	a.
	The consent of the Borrowers is required for any assignment, unless the Lender Transferee (as defined in Clause 23.3.2) falls within one of the categories set out under (i), (ii) or (iii) above.

		
	b.
	The consent of the Borrowers must not be unreasonably withheld or delayed.  The Borrowers will be deemed to have given its consent three Business Days after the Borrowers is given notice of the request unless it is expressly refused by the Borrowers within that time.

		
	c.
	The consent of the Borrowers to an assignment must not be withheld solely because the assignment is to a person who is a Swiss Non-Qualifying Bank, provided that each assignment must be in compliance with the Swiss Ten Non-Bank Rule.

		
	23.3.2
	If any Lender (the “Existing Lender”) wishes to assign all or any part of its Commitment or Participation in the Facility to another Lender or other financial institution (the “Lender Transferee”), such transfer may be effected by delivery to, and the execution by, the Facility Agent or the Security Agent (as applicable) of a duly completed Transfer Certificate and the transfer must be done on a pro rata basis. 

		
	23.3.3
	On the date specified in the Transfer Certificate:

to the extent that in the Transfer Certificate the Existing Lender seeks to assign its Commitment or Participation in the Facility or interest under any Finance Document, the Obligors and the Existing Lender shall each be released from further obligations to each other under this Agreement and their respective rights against each other shall be cancelled (such rights and obligations being referred to in this Clause 23.3.3 as “Discharged Rights and Obligations”);
		
	a.
	the Obligors and the Lender Transferee shall each assume obligations towards each other and/or acquire rights against each other which differ from the Discharged Rights and Obligations only insofar as the Obligors and the Lender Transferee have assumed and/or acquired the same in place of the Obligors and the Existing Lender;

		
	b.
	each of the Parties and the Lender Transferee shall acquire the same rights and assume the same obligations among themselves as they would have acquired and assumed had the Lender Transferee been a party under this Agreement as a Lender with the rights and/or the obligations acquired or assumed by it as a result of the transfer;

		
	c.
	a proportion of the Existing Lender’s rights under the Security Documents, equal to the proportion of the Existing Lender’s rights under this Agreement being transferred, shall automatically be transferred to the Lender Transferee; and

		
	d.
	the Existing Lender’s rights and benefits under the Security Documents shall be transferred by the relevant and necessary transfer certificates.

		
	23.3.4
	The Facility Agent and/or the Security Agent (as applicable) shall promptly complete a Transfer Certificate on request by an Existing Lender and upon payment by the Lender Transferee of a fee of USD 3,000 to the Facility Agent. Each Party irrevocably authorises each Agent to execute any duly completed Transfer Certificate on its behalf provided that such authorisation does not extend to the execution of a Transfer Certificate on behalf of either the Existing Lender or the Lender Transferee named in the Transfer Certificate.

		
	23.3.5
	The Facility Agent and/or the Security Agent (as applicable) shall promptly notify the Borrowers of the receipt and execution on its behalf by the relevant Agent of any Transfer Certificate.

		
	23.3.6
	Each Obligor undertakes to sign and execute any Transfer Certificate or other document necessary to complete a transfer of any interest under any Finance Document if so requested by the Facility Agent or the Security Agent.

		
	23.4
	Further assurance for assignments or transfers

		
	23.4.1
	The Obligors undertake to procure that in relation to any assignment by a Lender of all or part of its Commitment and/or its Participation in the Facility under this Agreement, the Group Companies shall at the request of the relevant assignor or transferor execute (at the cost and expense of the Borrowers) such documents as may be reasonably necessary to ensure that the relevant assignee or, as the case may be, transferee, attains the benefit of the Security Documents.

		
	23.4.2
	Without prejudice to Clause 23.3.5, each Lender shall notify the Agents and Borrowers (on behalf of itself and the other Obligors) of any assignment or transfer by such Lender of all or part of its Commitment or Participation in the Facility or interest under the Finance Documents.

		
	23.4.3
	In the case of any assignment, transfer or novation by an Existing Lender to a Lender Transferee of all or any part of its rights and obligations under the Finance Documents, the Existing Lender and the Lender Transferee agree that, for the purpose of Article 1278 of the Luxembourg Civil Code (to the extent applicable), the securities created under the Finance Documents and securing the rights assigned, transferred or novated thereby will be preserved for the benefit of the Lender Transferee.

		
	23.5
	Consequences of assignment

The Obligors shall be under no obligation to pay any greater amount under this Agreement following an assignment or transfer by a Lender of any of its rights or obligations pursuant to this Clause 23 if, in the circumstances existing at the time of such assignment or transfer, such greater amount would not have been payable but for the assignment or transfer.
		
	23.6
	Disclosure of information

The Facility Agent, the Security Agent, the Bookrunner and each Lender may disclose to each other, to their professional advisers and to any person with whom they are proposing to enter, or have entered into, any kind of assignment, transfer, participation or other agreement in relation to this Agreement or any other Finance Document provided such person has entered into an appropriate confidentiality undertaking in writing, any information which the Facility Agent, the Security Agent, the Bookrunner or that Lender has acquired under or in connection with any Finance Document.

		
	23.7
	Accession

The accession to this Agreement of each additional Guarantor shall take effect on the Facility Agent countersigning the relevant Accession Agreement which they are hereby irrevocably authorised to do by the Parties to this Agreement. The Parties hereto agree that this authorisation is given to secure the interest of the Parties under this Agreement and is accordingly irrevocable. After the execution of an Accession Agreement the acceding party shall be bound by this Agreement in relation to the other Parties and the Parties to this Agreement, not being the acceding party, shall be bound in relation to the acceding party.
		
	23.8
	Exposure transfer transactions

Nothing herein restricts the Lenders from entering into any arrangement with another person under which such Lender substantially transfers its credit risk exposure under this Agreement to that other person, unless under such arrangement (and for the duration of such arrangement):
		
	(a)
	the relationship between the Lender and that other person is that of a debtor and creditor (including in the event of the bankruptcy or similar event of the Lender or an Obligor);

		
	(b)
	the other person will have no proprietary interest in the benefit of this Agreement or in any monies received by the Lender under or in relation to this Agreement;

		
	(c)
	the other person will under no circumstances (other than pursuant to a transfer or assignment permitted under Clause 23.3.1) be subrogated to, or substituted in respect of, the Lender's claims under this Agreement; and

		
	(d)
	the other person will under no circumstances (other than pursuant to a transfer or assignment permitted under Clause 23.3.1) otherwise have any contractual relationship with, or rights against, an Obligor under or in relation to this Agreement.

		
	23.9
	Security over Lenders’ rights

In addition to the other rights provided to Lenders under this Clause 23, each Lender may, without consulting with or obtaining consent from any Obligor, at any time charge, assign or otherwise create security in or over (whether by way of collateral or otherwise) all or any of its rights under any Finance Document to secure obligations of that Lender including, without limitation:
		
	(a)
	any charge, assignment or other security to secure obligations to a federal reserve or central bank; and

		
	(b)
	in the case of any Lender which is a fund, any charge, assignment or other security granted to any holders (or trustee or representatives of holders) of obligations owed, or securities issued, by that Lender as security for those obligations or securities,

except that no such charge, assignment or security shall:
		
	(A)
	release a Lender from any of its obligations under the Finance Documents or substitute the beneficiary of the relevant charge, assignment or security for the Lender as a party to any of the Finance Documents

		
	(B)
	require any payments to be made by an Obligor other than or in excess of, or grant to any person any more extensive rights than, those required to be made or granted to the relevant Lender under the Finance Documents; or

		
	(C)
	result in a breach of the Swiss Ten Non-Bank Rule.

		
	24.
	INDEMNITIES

		
	24.1
	Breakage costs indemnity

Each Obligor shall, to the extent legally possible, indemnify each Finance Party on demand against any loss or expense (including any loss or expense on account of funds borrowed, contracted for or utilised to fund any amount payable under this Agreement, any amount repaid or prepaid under this Agreement or any Loan) which that Finance Party properly has sustained or incurred as a consequence of:
		
	a.
	a Loan not being made following the service of a Drawdown Notice (except as a result of the failure of that Finance Party to comply with its obligations under this Agreement);

		
	b.
	the failure of an Obligor to make payment on the due date of any sum due under this Agreement;

		
	c.
	the occurrence of any Default or by the operation of Clause 15.2 (Acceleration, etc.); or

		
	d.
	any prepayment or repayment of a Loan otherwise than on the last day of the Interest Period in relation to that Loan.

		
	24.2
	Currency indemnity

		
	24.2.1
	Any payment made to or for the account of or received by an Agent or any Lender in respect of any moneys or liabilities due, arising or incurred by an Obligor to an Agent or any Lender in a currency (the “Currency of Payment”) other than the currency in which the payment should have been made under this Agreement (the “Currency of Obligation”) in whatever circumstances (including as a result of a judgement against an Obligor) and for whatever reason shall constitute a discharge to that Obligor only to the extent of the Currency of Obligation amount which an Agent or that Lender, as the case may be, is able on the date of receipt of such payment (or if such date of receipt is not a Business Day, on the next succeeding Business Day) to purchase with the Currency of Payment amount at its spot rate of exchange (as conclusively determined by the relevant Agent or that Lender) in the relevant foreign exchange market.

		
	24.2.2
	If the amount of the Currency of Obligation which an Agent or that Lender is so able to purchase falls short of the amount originally due to an Agent or that Lender, as the case may be, under this Agreement, then the relevant Obligor shall immediately on demand indemnify the relevant Agent or that Lender, as the case may be, against any loss or damage arising as a result of that shortfall by paying to the relevant Agent or that Lender, as the case may be, that amount in the Currency of Obligation certified by the relevant Agent or that Lender, as the case may be, as necessary so to indemnify it.

		
	24.3
	General

		
	24.3.1
	Each indemnity in this Clause 24 shall constitute a separate and independent obligation from the other obligations contained in this Agreement or any other Finance Document and shall give rise to a separate and independent cause of action, shall apply irrespective of any indulgence granted from time to time and shall continue in full force and effect notwithstanding any judgement or order for a liquidated sum or sums in respect of amounts due under this Agreement or any other Finance Document or under any such judgement or order.

		
	24.3.2
	The certificate of an Agent or the relevant Lender as to the amount of any loss or damage sustained or incurred by it shall be conclusive and binding on the Obligors except for any manifest error.

		
	25.
	FORCE MAJEURE

		
	25.1.1
	No Finance Party shall be held responsible for any damage arising out of any Norwegian or foreign legal enactment, or any measure undertaken by a Norwegian or foreign public authority, or war, strike, lockout, boycott, blockade or any other similar circumstance. The reservation in respect of strikes, lockouts, boycotts and blockades applies even if a Finance Party takes such measures, or is subject to such measures.

		
	25.1.2
	Any damage that may arise in other cases shall not be indemnified by a Finance Party if it has observed normal care. A Finance Party shall not in any case be held responsible for any indirect damage. Should there be an obstacle as described above for any of the parties set out above in this Clause 25 to take any action in compliance with any Finance Document, such action may be postponed until the obstacle has been removed.

		
	26.
	LAW AND JURISDICTION

		
	26.1
	Law

		
	26.2.1
	This Agreement is governed by and shall be construed in accordance with Norwegian law.

		
	26.2
	Jurisdiction

		
	26.2.1
	Subject to Clause 26.2.2 below, the courts of Norway shall have exclusive jurisdiction over matters arising out of or in connection with this Agreement. Oslo tingrett shall be the court of first instance.

		
	26.2.2
	The submission to the jurisdiction of Norwegian Courts shall not limit the right of a Finance Party to take proceedings against any Obligor in any court which may otherwise exercise jurisdiction over any Obligor or any of its assets.

		
	26.3
	Service of process 

		
	26.3.1
	Without prejudice to any other mode of service allowed under any relevant law, each Obligor (other than an Obligor incorporated in Norway):

		
	a.
	irrevocably appoints PRA Group Europe AS (formerly Aktiv Kapital AS) (represented by the chairman of the board of directors from time to time) as its agent for service of process in relation to any proceedings before the Norwegian courts in connection with any Finance Document governed by Norwegian law; and

		
	b.
	agrees that failure by a process agent to notify the relevant Obligor of the process will not invalidate the proceedings concerned.

		
	26.3.2
	If any process agent appointed pursuant to this Clause 26.3 (Service of process) (or any successor thereto) shall cease to exist for any reason where process may be served, the Obligor will forthwith appoint another process agent with an office in Norway where process may be served and will forthwith notify the Agent thereof.

IN WITNESS whereof the Parties have caused this Agreement to be duly executed on the date set out above.

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