Document:

Exhibit 4.1

 

Execution Version 

 

 

OMEGA HEALTHCARE INVESTORS, INC.,

as Issuer,

 

the SUBSIDIARY GUARANTORS named herein,

as Subsidiary Guarantors,

 

and

 

U.S. BANK NATIONAL ASSOCIATION,

as Trustee

 

 

 

 

INDENTURE

 

 

 

Dated as of September 20, 2019

 

 

 

3.625% Senior Notes due 2029

 

  

     

     

    

 

	Trust
                                         Indenture Act Section

	 	Indenture
        Section

	310	(a)(1)	 	7.10
	 	(a)(2)	 	7.10
	 	(a)(3)	 	N.A.
	 	(a)(4)	 	N.A.
	 	(a)(5)	 	7.08;
    7.10
	 	(b)	 	7.08;
    7.10
	 	(c)	 	N.A.
	311	(a)	 	7.11
	 	(b)	 	7.11
	 	(c)	 	N.A.
	312	(a)	 	2.05
	 	(b)	 	11.03
	 	(c)	 	11.03
	313	(a)	 	7.06
	 	(b)(1)	 	7.06
	 	(b)(2)	 	7.06;
    7.07
	 	(c)	 	7.06;
    11.02
	 	(d)	 	7.06
	314	(a)	 	4.05;
    4.10; 11.02; 11.05
	 	(b)	 	N.A.
	 	(c)(1)	 	7.02;
    11.04; 11.05
	 	(c)(2)	 	7.02;
    11.04; 11.05
	 	(c)(3)	 	N.A.
	 	(d)	 	N.A.
	 	(e)	 	11.05
	 	(f)	 	N.A.
	315	(a)	 	7.01(b);
    7.02(b)
	 	(b)	 	7.05;
    11.02
	 	(c)	 	7.01
	 	(d)	 	6.05;
    7.01(c)
	 	(e)	 	6.11
	316	(a)
    (last sentence)	 	2.09
	 	(a)(1)(A)	 	6.05
	 	(a)(1)(B)	 	6.04
	 	(a)(2)	 	N.A.
	 	(b)	 	6.07
	 	(c)	 	9.04
	317	(a)(1)	 	6.08
	 	(a)(2)	 	6.09
	 	(b)	 	2.04
	318	(a)	 	11.01
	 	(c)	 	11.01

 

 

N.A. means Not Applicable

 

Note: This Cross-Reference Table shall not, for any purpose,
be deemed to be a part of this Indenture.

 

     

     

    

 

TABLE OF CONTENTS

  

		 	Page 
	 	ARTICLE
    One	 
	 	DEFINITIONS
    AND INCORPORATION BY REFERENCE	 
	Section
    1.01	Definitions	 1
	Section
    1.02	Other
    Definitions	 13
	Section
    1.03	Incorporation
    by Reference of Trust Indenture Act	 14
	Section
    1.04	Rules
    of Construction	 14
	 	 	
	 	ARTICLE
    Two	 
	 	THE
    NOTES	 
	Section
    2.01	Form
    and Dating	 15
	Section
    2.02	Execution,
    Authentication and Denomination; Additional Notes	 15
	Section
    2.03	Registrar
    and Paying Agent	 17
	Section
    2.04	Paying
    Agent To Hold Assets in Trust	 17
	Section
    2.05	Holder
    Lists	 17
	Section
    2.06	Transfer
    and Exchange	 18
	Section
    2.07	Replacement
    Notes	 18
	Section
    2.08	Outstanding
    Notes	 19
	Section
    2.09	Treasury
    Notes	 19
	Section
    2.10	Temporary
    Notes	 19
	Section
    2.11	Cancellation	19
	Section
    2.12	Defaulted
    Interest	 20
	Section
    2.13	CUSIP
    and ISIN Numbers	 20
	Section
    2.14	Deposit
    of Moneys	 20
	Section
    2.15	Book-Entry
    Provisions for Global Notes	20
	 	 	 
	 	ARTICLE
    Three	 
	 	REDEMPTION	 
	Section
    3.01	Notices
    to Trustee	 22
	Section
    3.02	Selection
    of Notes To Be Redeemed	 22
	Section
    3.03	Notice
    of Redemption	 23
	Section
    3.04	Effect
    of Notice of Redemption	 24
	Section
    3.05	Deposit
    of Redemption Price	 24
	Section
    3.06	Notes
    Redeemed in Part	 24

 

    i 

     

    

 

	 	ARTICLE
    Four	 
	 	COVENANTS	 
	Section
    4.01	Payment
    of Notes	 24
	Section
    4.02	Maintenance
    of Office or Agency	 25
	Section
    4.03	Corporate
    Existence	 25
	Section
    4.04	Payment
    of Taxes	 25
	Section
    4.05	Compliance
    Certificate; Notice of Default	 26
	Section
    4.06	Waiver
    of Stay, Extension or Usury Laws	 26
	Section
    4.07	Limitation
    on Indebtedness	 26
	Section
    4.08	Maintenance
    of Total Unencumbered Assets	 27
	Section
    4.09	Limitation
    on Issuances of Guarantees by Subsidiaries	 27
	Section
    4.10	Reports
    to Holders	 27
	 	 	 
	 	ARTICLE
    Five	 
	 	SUCCESSOR
    CORPORATION	 
	Section
    5.01	Consolidation,
    Merger and Sale of Assets	 28
	 	 	 
	 	ARTICLE
    Six	 
	 	DEFAULT
    AND REMEDIES	 
	Section
    6.01	Events
    of Default	 30
	Section
    6.02	Acceleration	 31
	Section
    6.03	Other
    Remedies	 32
	Section
    6.04	Waiver
    of Past Defaults	 32
	Section
    6.05	Control
    by Majority	 32
	Section
    6.06	Limitation
    on Suits	 33
	Section
    6.07	Rights
    of Holders To Receive Payment	 33
	Section
    6.08	Collection
    Suit by Trustee	 34
	Section
    6.09	Trustee
    May File Proofs of Claim	 34
	Section
    6.10	Priorities	 34
	Section
    6.11	Undertaking
    for Costs	 35
	 	 	 
	 	ARTICLE
    Seven	 
	 	TRUSTEE	 
	Section
    7.01	Duties
    of Trustee	 35
	Section
    7.02	Rights
    of Trustee	 36
	Section
    7.03	Individual
    Rights of Trustee	 37
	Section
    7.04	Trustee’s
    Disclaimer	 37
	Section
    7.05	Notice
    of Default	 38
	Section
    7.06	Reports
    by Trustee to Holders	 38

 

    ii 

     

    

 

	Section
    7.07	Compensation
    and Indemnity	 38
	Section
    7.08	Replacement
    of Trustee	 39
	Section
    7.09	Successor
    Trustee by Merger, Etc.	 40
	Section
    7.10	Eligibility;
    Disqualification	 40
	Section
    7.11	Preferential
    Collection of Claims Against the Issuer	 40
	 	 	 
	 	ARTICLE
    Eight	 
	 	DISCHARGE
    OF INDENTURE; DEFEASANCE	 
	Section
    8.01	Termination
    of the Issuer’s Obligations	 41
	Section
    8.02	Legal
    Defeasance and Covenant Defeasance	 42
	Section
    8.03	Conditions
    to Legal Defeasance or Covenant Defeasance	 43
	Section
    8.04	Application
    of Trust Money	 44
	Section
    8.05	Repayment
    to the Issuer	 45
	Section
    8.06	Reinstatement	45
	 	 	
	 	ARTICLE
    Nine	 
	 	AMENDMENTS,
    SUPPLEMENTS AND WAIVERS	 
	Section
    9.01	Without
    Consent of Holders	 46
	Section
    9.02	With
    Consent of Holders	 47
	Section
    9.03	Compliance
    with the Trust Indenture Act	 48
	Section
    9.04	Revocation
    and Effect of Consents	 48
	Section
    9.05	Notation
    on or Exchange of Notes	 49
	Section
    9.06	Trustee
    To Sign Amendments, Etc.	 49
	 	 	
	 	ARTICLE
    Ten	 
	 	SUBSIDIARY
    GUARANTEE	 
	Section
    10.01	Guarantee	 49
	Section
    10.02	Limitation
    on Subsidiary Guarantor Liability	 50
	Section
    10.03	Execution
    and Delivery of Subsidiary Guarantee	 51
	Section
    10.04	Release
    of a Subsidiary Guarantor	 51
	 	 	 
	 	ARTICLE
    Eleven	 
	 	MISCELLANEOUS	 
	Section
    11.01	Trust
    Indenture Act Controls	52
	Section
    11.02	Notices	 52
	Section
    11.03	Communications
    by Holders with Other Holders	 53
	Section
    11.04	Certificate
    and Opinion as to Conditions Precedent	 54
	Section
    11.05	Statements
    Required in Certificate or Opinion	 54
	Section
    11.06	Rules
    by Paying Agent or Registrar	 54
	Section
    11.07	Legal
    Holidays	 54

 

    iii 

     

    

 

	Section
    11.08	Governing
    Law	55 
	Section
    11.09	No
    Adverse Interpretation of Other Agreements	55 
	Section
    11.10	No
    Recourse Against Others	55 
	Section
    11.11	Successors	55 
	Section
    11.12	Duplicate
    Originals	55 
	Section
    11.13	Severability	55 

 

	SIGNATURES 	S-1
	 	 	 
	Exhibit A	-	Form of Note
	Exhibit B	-	Form of Legends
	Exhibit C	-	Form of Notation of Subsidiary Guarantee

  

Note: This Table of Contents shall not, for any purpose, be
deemed to be part of this Indenture.

 

    iv 

     

    

 

 

INDENTURE dated as of September 20, 2019 among
Omega Healthcare Investors, Inc., a Maryland corporation (the “Issuer”), each of the Subsidiary Guarantors named
herein, as Subsidiary Guarantors, and U.S. Bank National Association, a national banking association organized and existing under
the laws of the United States of America, as Trustee (the “Trustee”).

 

The Issuer has duly authorized the creation
of an issue of 3.625% Senior Notes due 2029 and, to provide therefor, the Issuer and the Subsidiary Guarantors have duly authorized
the execution and delivery of this Indenture. All things necessary to make the Notes, when duly issued and executed by the Issuer
and authenticated and delivered hereunder, the valid and binding obligations of the Issuer and to make this Indenture a valid and
binding agreement of the Issuer and the Subsidiary Guarantors have been done.

 

THIS INDENTURE WITNESSETH

 

For and in consideration of the premises and
the purchase of the Notes by the Holders thereof, the parties hereto covenant and agree, for the equal and proportionate benefit
of all Holders, as follows:

 

ARTICLE
One

DEFINITIONS AND INCORPORATION BY REFERENCE

 

Section 1.01       
Definitions.

 

Set forth below are certain defined terms
used in this Indenture.

 

“Acquired Indebtedness”
means Indebtedness of a Person existing at the time such Person becomes a Subsidiary or that is assumed in connection with an Asset
Acquisition from such Person by a Subsidiary and not incurred by such Person in connection with, or in anticipation of, such Person
becoming a Subsidiary or such Asset Acquisition; provided, however, that Indebtedness of such Person that is redeemed, defeased,
retired or otherwise repaid at the time of or immediately upon consummation of the transactions by which such Person becomes a
Subsidiary or such Asset Acquisition shall not be Acquired Indebtedness.

 

“Adjusted Consolidated Net Income”
means, for any period, the aggregate net income (or loss) (before giving effect to cash dividends on preferred stock of the Issuer
or charges resulting from the redemption of preferred stock of the Issuer) of the Issuer and its Subsidiaries for such period determined
on a consolidated basis in conformity with GAAP; provided, however, that the following items shall be excluded in computing
Adjusted Consolidated Net Income, without duplication:

 

(1)        
the net income of any Person, other than the Issuer or a Subsidiary, except to the extent of the amount of dividends or
other distributions actually paid to the Issuer or any of its Subsidiaries by such Person during such period;

 

     

     

    

 

(2)        
the net income of any Subsidiary to the extent that the declaration or payment of dividends or similar distributions by
such Subsidiary of such net income is not at the time permitted by the operation of the terms of its charter or any agreement,
instrument, judgment, decree, order, statute, rule or governmental regulation applicable to such Subsidiary;

 

(3)        
any after-tax gains or losses attributable to asset sales; and

 

(4)        
all extraordinary gains and extraordinary losses.

 

“Adjusted Total Assets”
means, for any Person, the sum of:

 

(1)        
Total Assets for such Person as of the end of the fiscal quarter preceding the Transaction Date as set forth on the most
recent quarterly or annual consolidated balance sheet of the Issuer and its Subsidiaries, prepared in conformity with GAAP and
filed with the SEC or provided to the Trustee pursuant to Section 4.10; and

 

(2)        
any increase in Total Assets following the end of such quarter including, without limitation, any increase in Total Assets
resulting from the application of the proceeds of any additional Indebtedness.

 

“Affiliate” means, as applied
to any Person, any other Person directly or indirectly controlling, controlled by, or under direct or indirect common control with,
such Person. For purposes of this definition, “control” (including, with correlative meanings, the terms “controlling,”
“controlled by” and “under common control with”), as applied to any Person, means the possession,
directly or indirectly, of the power to direct or cause the direction of the management and policies of such Person, whether through
the ownership of voting securities, by contract or otherwise.

 

“Agent” means any Registrar
or Paying Agent.

 

“amend” means to amend,
supplement, restate, amend and restate or otherwise modify, including successively; and “amendment” shall have
a correlative meaning.

 

“Asset Acquisition” means:

 

(1)        
an investment by the Issuer or any of its Subsidiaries in any other Person pursuant to which such Person shall become a
Subsidiary or shall be merged into or consolidated with the Issuer or any of its Subsidiaries; provided, however, that such
Person’s primary business is related, ancillary, incidental or complementary to the businesses of the Issuer or any of its
Subsidiaries on the date of such investment; or

 

(2)        
an acquisition by the Issuer or any of its Subsidiaries from any other Person of assets that constitute substantially all
of a division or line of business, or one or more healthcare properties, of such Person; provided, however, that the assets
and properties acquired are related, ancillary, incidental or complementary to the businesses of the Issuer or any of its Subsidiaries
on the date of such acquisition.

 

    2

     

    

 

“Asset Disposition” means
the sale or other disposition by the Issuer or any of its Subsidiaries, other than to the Issuer or another Subsidiary, of:

 

(1)        
all or substantially all of the Capital Stock of any Subsidiary; or

 

(2)        
all or substantially all of the assets that constitute a division or line of business, or one or more healthcare properties,
of the Issuer or any of its Subsidiaries.

 

“Bankruptcy Law” means
Title 11 of the United States Code, as amended, or any insolvency or other similar federal or state law for the relief of debtors.

 

“Board of Directors” means,
as to any Person, the board of directors (or similar governing body) of such Person or any duly authorized committee thereof.

 

“Board Resolution” means,
with respect to any Person, a copy of a resolution certified by the Secretary or an Assistant Secretary of such Person to have
been duly adopted by the Board of Directors of such Person and to be in full force and effect on the date of such certification,
and delivered to the Trustee.

 

“Business Day” means a
day other than a Saturday, Sunday or other day on which banking institutions in New York or Maryland are authorized or required
by law to close.

 

“Capital Stock” means,
with respect to any Person, any and all shares, interests, participations or other equivalents (however designated, whether voting
or non-voting), including partnership interests, whether general or limited, in the equity of such Person, whether outstanding
on the Closing Date or issued thereafter, including, without limitation, all Common Stock and Preferred Stock.

 

“Capitalized Lease” means,
as applied to any Person, any lease of any property, whether real, personal or mixed, of which the discounted present value of
the rental obligations of such Person as lessee, in conformity with GAAP, is required to be capitalized on the balance sheet of
such Person as a finance lease.

 

“Capitalized Lease Obligations”
means the discounted present value of the rental obligations under a Capitalized Lease as reflected on the balance sheet of such
Person as determined in conformity with GAAP.

 

“Closing Date” means September
20, 2019.

 

“Common Stock” means, with
respect to any Person, any and all shares, interests, participations or other equivalents (however designated, whether voting or
non-voting) that have no preference on liquidation or with respect to distributions over any other class of Capital Stock, including
partnership interests, whether general or limited, of such Person’s equity, whether outstanding on the Closing Date or issued
thereafter, including, without limitation, all series and classes of common stock.

 

    3

     

    

 

“Consolidated EBITDA” means,
for any period, Adjusted Consolidated Net Income for such period plus amounts which have been deducted and minus amounts which
have been added for, without duplication:

 

(1)        
Consolidated Interest Expense;

 

(2)        
provision for taxes based on income;

 

(3)        
impairment losses and gains on sales or other dispositions of properties and other Investments;

 

(4)        
real estate related depreciation and amortization expense;

 

(5)        
the effect of any non-recurring, non-cash items;

 

(6)        
amortization of deferred charges;

 

(7)        
gains or losses on early extinguishment of Indebtedness; and

 

(8)        
acquisition expenses;

 

all as determined on a consolidated basis for the Issuer and
its Subsidiaries in conformity with GAAP; provided, however, that, if any Subsidiary is not a Wholly Owned Subsidiary, Consolidated
EBITDA shall be reduced (to the extent not already reduced in Adjusted Consolidated Net Income or otherwise reduced in accordance
with GAAP) by an amount equal to:

 

(x)       the
amount of the Adjusted Consolidated Net Income attributable to such Subsidiary multiplied by

 

(y)       the
percentage ownership interest in the income of such Subsidiary not owned on the last day of such period by the Issuer or any of
its Subsidiaries.

 

“Consolidated Interest Expense”
means, for any period, the aggregate amount of interest expense in respect of Indebtedness of the Issuer and the Subsidiaries during
such period, all as determined on a consolidated basis in conformity with GAAP including, without limitation (without duplication):

 

(1)        
amortization of debt issuance costs, debt discount or premium and other financing fees and expenses;

 

    4

     

    

 

(2)        
the interest portion of any deferred payment obligations;

 

(3)        
all commissions, discounts and other fees and expenses owed with respect to letters of credit and bankers’ acceptance
financing;

 

(4)        
the net costs associated with Interest Rate Agreements and Indebtedness that is Guaranteed or secured by assets of the Issuer
or any of its Subsidiaries; and

 

(5)        
all but the principal component of rentals in respect of Capitalized Lease Obligations paid, accrued or scheduled to be
paid or to be accrued by the Issuer and its Subsidiaries;

 

excluding, to the extent included in interest expense above,
the amount of such interest expense of any Subsidiary if the net income of such Subsidiary is excluded in the calculation of Adjusted
Consolidated Net Income pursuant to clause (2) of the definition thereof (but only in the same proportion as the net income of
such Subsidiary is excluded from the calculation of Adjusted Consolidated Net Income pursuant to clause (2) of the definition thereof),
as determined on a consolidated basis in conformity with GAAP.

 

“Corporate Trust Office”
means the corporate trust office of the Trustee located at Two Midtown Plaza, 1349 W. Peachtree Street, NW, Suite 1050, EX-GA-ATPT,
Atlanta, Georgia 30309, Attention: Corporate Trust Department, or such other office, designated by the Trustee by written notice
to the Issuer, at which at any particular time its corporate trust business shall be administered.

 

“Custodian” means any receiver,
trustee, assignee, liquidator or similar official under any Bankruptcy Law.

 

“Default” means any event
that is, or after notice or passage of time or both would be, an Event of Default.

 

“Depository” means The
Depository Trust Company, New York, New York, or a successor thereto registered under the Exchange Act or other applicable statute
or regulation.

 

“Disqualified Stock” means
any class or series of Capital Stock of any Person that by its terms or otherwise is:

 

(1)        
required to be redeemed prior to the Stated Maturity of the Notes,

 

(2)        
redeemable at the option of the holder of such class or series of Capital Stock, at any time prior to the Stated Maturity
of the Notes, or

 

    5

     

    

 

(3)        
convertible into or exchangeable for Capital Stock referred to in clause (1) or (2) above or Indebtedness having a scheduled
maturity prior to the Stated Maturity of the Notes;

 

provided, however, that any Capital Stock that would
not constitute Disqualified Stock but for customary provisions thereof giving holders thereof the right to require such Person
to repurchase or redeem such Capital Stock upon the occurrence of an “asset sale” or “change of control”
occurring prior to the Stated Maturity of the Notes shall not constitute Disqualified Stock.

 

“Exchange Act” means the
Securities Exchange Act of 1934, as amended, or any successor statute or statutes thereto.

 

“Existing Note Indentures”
means the indenture governing the Issuer’s 4.375% senior notes due 2023, the indenture governing the Issuer’s 4.950%
senior notes due 2024, the indenture governing the Issuer’s 4.500% senior notes due 2025, the indenture governing the Issuer’s
5.250% senior notes due 2026, the indenture governing the Issuer’s 4.500% senior notes due 2027 and the indenture governing
the Issuer’s 4.750% senior notes due 2028 (each an “Existing Note Indenture”), as each such Existing Note
Indenture may be supplemented from time to time.

 

“Fair Market Value” means
the price that would be paid in an arm’s-length transaction between an informed and willing seller under no compulsion to
sell and an informed and willing buyer under no compulsion to buy, as determined in good faith by the Board of Directors of the
Issuer, whose determination shall be conclusive if evidenced by a Board Resolution.

 

“GAAP” means generally
accepted accounting principles in the United States of America as in effect as of the date of this indenture, including, without
limitation, those set forth in the opinions and pronouncements of the Accounting Principles Board of the American Institute of
Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or in such other statements
by such other entity as approved by a significant segment of the accounting profession. Except as otherwise specifically provided
in this Indenture, all terms of an accounting or financial nature and all ratios and computations contained or referred to in this
Indenture shall be computed in conformity with GAAP applied on a consistent basis.

 

“Guarantee” means any obligation,
contingent or otherwise, of any Person directly or indirectly guaranteeing any Indebtedness of any other Person and, without limiting
the generality of the foregoing, any obligation, direct or indirect, contingent or otherwise, of such Person:

 

(1)        
to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness of such other Person (whether
arising by virtue of partnership arrangements, or by agreements to keep-well, to purchase assets, goods, securities or services
(unless such purchase arrangements are on arm’s-length terms and are entered into in the ordinary course of business), to
take-or-pay, or to maintain financial statement conditions or otherwise); or

 

    6

     

    

 

(2)        
entered into for purposes of assuring in any other manner the obligee of such Indebtedness of the payment thereof or to
protect such obligee against loss in respect thereof (in whole or in part);

 

provided, however, that the term “Guarantee”
shall not include endorsements for collection or deposit in the ordinary course of business. The term “Guarantee” used
as a verb has a corresponding meaning.

 

“Holder” means any registered
holder, from time to time, of the Notes.

 

“Incur” means, with respect
to any Indebtedness, to incur, create, issue, assume, Guarantee or otherwise become liable for or with respect to, or become responsible
for, the payment of, contingently or otherwise, such Indebtedness, including an “Incurrence” of Acquired Indebtedness;
provided, however, that neither the accrual of interest nor the accretion of original issue discount shall be considered
an Incurrence of Indebtedness.

 

“Indebtedness” means, with
respect to any Person at any date of determination (without duplication):

 

(1)        
all indebtedness of such Person for borrowed money;

 

(2)        
all obligations of such Person evidenced by bonds, debentures, notes or other similar instruments;

 

(3)        
the face amount of letters of credit or other similar instruments, excluding obligations with respect to letters of credit
(including trade letters of credit) securing obligations (other than obligations described in (1) or (2) above or (4), (5) or (6)
below) entered into in the ordinary course of business of such Person to the extent such letters of credit are not drawn upon or,
if drawn upon, to the extent such drawing is reimbursed no later than the third Business Day following receipt by such Person of
a demand for reimbursement;

 

(4)        
all unconditional obligations of such Person to pay amounts representing the balance deferred and unpaid of the purchase
price of any property (which purchase price is due more than six months after the date of placing such property in service or taking
delivery and title thereto), except any such balance that constitutes an accrued expense or Trade Payable;

 

(5)        
all Capitalized Lease Obligations;

 

(6)        
all Indebtedness of other Persons secured by a Lien on any asset of such Person, whether or not such Indebtedness is assumed
by such Person; provided, however, that the amount of such Indebtedness shall be the lesser of (A) the Fair Market Value
of such asset at that date of determination and (B) the amount of such Indebtedness;

 

    7

     

    

 

and also includes, to the extent not otherwise included, any
non-contingent obligation of such Person to be liable for, or to pay, as obligor, guarantor or otherwise (other than for purposes
of collection in the ordinary course of business), Indebtedness of the types referred to in items (1) through (6) above of another
Person (it being understood that Indebtedness shall be deemed to be Incurred by such Person whenever such Person shall create,
assume, guarantee (on a non-contingent basis) or otherwise become liable in respect thereof). In addition,

 

(1)        
the amount outstanding at any time of any Indebtedness issued with original issue discount shall be deemed to be the face
amount with respect to such Indebtedness less the remaining unamortized portion of the original issue discount of such Indebtedness
at the date of determination in conformity with GAAP, and

 

(2)        
Indebtedness shall not include any liability for federal, state, local or other taxes.

 

“Indenture” means this
Indenture, as amended or supplemented from time to time in accordance with the terms hereof.

 

“interest” means, with
respect to the Notes, interest on the Notes.

 

“Interest Coverage Ratio”
means, on any Transaction Date, the ratio of:

 

(x)       the
aggregate amount of Consolidated EBITDA for the then most recent four fiscal quarters prior to such Transaction Date for which
reports have been filed with the SEC or provided to the Trustee pursuant to Section 4.10 (“Four Quarter Period”)
to

 

(y)       the
aggregate Consolidated Interest Expense during such Four Quarter Period. In making the foregoing calculation,

 

(1)        
pro forma effect shall be given to any Indebtedness Incurred or repaid (other than in connection with an Asset Acquisition
or Asset Disposition) during the period (“Reference Period”) commencing on the first day of the Four Quarter
Period and ending on the Transaction Date (other than Indebtedness Incurred or repaid under a revolving credit or similar arrangement),
in each case as if such Indebtedness had been Incurred or repaid on the first day of such Reference Period;

 

(2)        
Consolidated Interest Expense attributable to interest on any Indebtedness (whether existing or being Incurred) computed
on a pro forma basis and bearing a floating interest rate shall be computed as if the rate in effect on the Transaction
Date (taking into account any Interest Rate Agreement applicable to such Indebtedness if such Interest Rate Agreement has a remaining
term in excess of 12 months or, if shorter, at least equal to the remaining term of such Indebtedness) had been the applicable
rate for the entire period;

 

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(3)        
pro forma effect shall be given to Asset Dispositions and Asset Acquisitions and Investments (including giving pro
forma effect to the application of proceeds of any Asset Disposition and any Indebtedness Incurred or repaid in connection
with any such Asset Acquisitions or Asset Dispositions) that occur during such Reference Period but subsequent to the end of the
related Four Quarter Period as if they had occurred and such proceeds had been applied on the first day of such Reference Period;
and

 

(4)        
pro forma effect shall be given to asset dispositions and asset acquisitions (including giving pro forma effect
to (i) the application of proceeds of any asset disposition and any Indebtedness Incurred or repaid in connection with any such
asset acquisitions or asset dispositions and (ii) expense and cost reductions calculated on a basis consistent with Regulation
S-X under the Exchange Act) that have been made by any Person that has become a Subsidiary or has been merged with or into the
Issuer or any of its Subsidiaries during such Reference Period but subsequent to the end of the related Four Quarter Period and
that would have constituted asset dispositions or asset acquisitions during such Reference Period but subsequent to the end of
the related Four Quarter Period had such transactions occurred when such Person was a Subsidiary as if such asset dispositions
or asset acquisitions were Asset Dispositions or Asset Acquisitions and had occurred on the first day of such Reference Period;

 

provided, however, that to the extent that clause (3)
or (4) of this paragraph requires that pro forma effect be given to an Asset Acquisition or Asset Disposition or asset acquisition
or asset disposition, as the case may be, such pro forma calculation shall be based upon the four full fiscal quarters immediately
preceding the Transaction Date of the Person, or division or line of business, or one or more healthcare properties, of the Person
that is acquired or disposed of to the extent that such financial information is available.

 

“Interest Payment Date”
means the Stated Maturity of an installment of interest on the Notes.

 

“Interest Rate Agreement”
means any interest rate protection agreement, interest rate future agreement, interest rate option agreement, interest rate swap
agreement, interest rate cap agreement, interest rate collar agreement, interest rate hedge agreement, option or future contract
or other similar agreement or arrangement with respect to interest rates.

 

“Investment” in any Person
means any direct or indirect advance, loan or other extension of credit (including, without limitation, by way of Guarantee or
similar arrangement, but excluding advances to customers in the ordinary course of business that are, in conformity with GAAP,
recorded as accounts receivable on the consolidated balance sheet of the Issuer and its Subsidiaries) or capital contribution to
(by means of any transfer of cash or other property (tangible or intangible) to others or any payment for property or services
solely for the account or use of others, or otherwise), or any purchase or acquisition of Capital Stock, bonds, notes, debentures
or other similar instruments issued by, such Person.

 

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“Lien” means any mortgage,
pledge, security interest, encumbrance, lien or charge of any kind (including, without limitation, any conditional sale or other
title retention agreement or lease in the nature thereof or any agreement to give any security interest).

 

“Notes” means, collectively,
the Issuer’s 3.625% Senior Notes due 2029 issued in accordance with Section 2.02 (whether issued on the Closing Date, issued
as Additional Notes, or otherwise issued after the Closing Date) treated as a single class of securities under this Indenture,
as amended or supplemented from time to time in accordance with the terms of this Indenture.

 

“Officer” means any of
the following of the Issuer or a Subsidiary Guarantor, as applicable: the Chairman of the Board of Directors, the Chief Executive
Officer, the Chief Financial Officer, the President, any Vice President, the Treasurer or the Secretary.

 

“Officers’ Certificate”
means a certificate signed by two Officers.

 

“Opinion of Counsel” means
a written opinion from legal counsel who is reasonably acceptable to the Trustee. The counsel may be an employee of, or counsel
to, the Issuer, the Subsidiary Guarantor or the Trustee.

 

“Person” means any individual,
corporation, partnership, limited liability company, joint venture, incorporated or unincorporated association, joint-stock company,
trust, unincorporated organization or government or other agency or political subdivision thereof or other entity of any kind.

 

“Preferred Stock” means,
with respect to any Person, any and all shares, interests, participations or other equivalents (however designated, whether voting
or non-voting) that have a preference on liquidation or with respect to distributions over any other class of Capital Stock, including
preferred partnership interests, whether general or limited, or such Person’s preferred or preference stock, whether outstanding
on the Closing Date or issued thereafter, including, without limitation, all series and classes of such preferred or preference
stock.

 

“principal” means, with
respect to the Notes, the principal of and premium, if any, on the Notes.

 

“Prospectus Supplement”
means the prospectus supplement, dated September 20, 2019, relating to the offering of the Notes.

 

“Record Date” means the
applicable Record Date specified in the Notes; provided, however, that if any such date is not a Business Day, the Record
Date shall be the first day immediately succeeding such specified day that is a Business Day.

 

“redeem” means to redeem,
repurchase, purchase, defease, retire, discharge or otherwise acquire or retire for value; and “redemption”
shall have a correlative meaning; provided, however, that this definition shall not apply for purposes of Section 5 of the
Notes or Article Three.

 

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“Redemption Date,” when
used with respect to any Note to be redeemed, means the date fixed for such redemption pursuant to this Indenture and the Notes.

 

“Redemption Price,” when
used with respect to any Note to be redeemed, means the price fixed for such redemption, payable in immediately available funds,
pursuant to this Indenture and the Notes.

 

“Responsible Officer” means,
when used with respect to the Trustee, any officer in the Corporate Trust Office of the Trustee to whom any corporate trust matter
is referred because of such officer’s knowledge of and familiarity with the particular subject and shall also mean any officer
who shall have direct responsibility for the administration of this Indenture.

 

“SEC” means the U.S. Securities
and Exchange Commission.

 

“Secured Indebtedness”
means any Indebtedness secured by a Lien upon the property of the Issuer or any of its Subsidiaries.

 

“Securities Act” means
the U.S. Securities Act of 1933, as amended, or any successor statute or statutes thereto.

 

“Significant Subsidiary,”
with respect to any Person, means any subsidiary of such Person that satisfies the criteria for a “significant subsidiary”
set forth in Rule 1.02(w) of Regulation S-X under the Exchange Act.

 

“Stated Maturity” means:

 

(1)        
with respect to any debt security, the date specified in such debt security as the fixed date on which the final installment
of principal of such debt security is due and payable; and

 

(2)        
with respect to any scheduled installment of principal of or interest on any debt security, the date specified in such debt
security as the fixed date on which such installment is due and payable.

 

“Subsidiary” means, with
respect to any Person, any corporation, association or other business entity of which more than 50% of the voting power of the
outstanding Voting Stock is owned, directly or indirectly, by such Person and one or more other Subsidiaries of such Person and
the accounts of which would be consolidated with those of such Person in its consolidated financial statements in accordance with
GAAP, if such statements were prepared as of such date.

 

“Subsidiary Guarantee”
means a Guarantee by each Subsidiary Guarantor for payment of the Notes by such Subsidiary Guarantor. The Subsidiary Guarantee
will be an unsecured senior obligation of each Subsidiary Guarantor and will be unconditional regardless of the enforceability
of the Notes and this Indenture. Notwithstanding the foregoing, each Subsidiary Guarantee by a Subsidiary Guarantor shall provide
by its terms that it shall be automatically and unconditionally released and discharged under the circumstances described in Section
10.04 hereof.

 

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“Subsidiary Guarantors”
means (i) each Subsidiary that is a guarantor of Indebtedness under the Existing Note Indentures on the Closing Date and (ii) each
other Person that is required to become a Subsidiary Guarantor by the terms of this Indenture after the Closing Date, in each case,
until such Person is released from its Subsidiary Guarantee.

 

“Total Assets” means the
sum (without duplication) of:

 

(1)        
Undepreciated Real Estate Assets; and

 

(2)        
all other assets (excluding intangibles and accounts receivable) of the Issuer and its Subsidiaries on a consolidated basis
determined in conformity with GAAP.

 

“Total Unencumbered Assets”
as of any date means the sum of:

 

(1)        
those Undepreciated Real Estate Assets not securing any portion of Secured Indebtedness; and

 

(2)        
all other assets (but excluding intangibles and accounts receivable) of the Issuer and its Subsidiaries not securing any
portion of Secured Indebtedness determined on a consolidated basis in conformity with GAAP;

 

provided, however, that all investments in unconsolidated
joint ventures, unconsolidated limited partnerships, unconsolidated limited liability companies and other unconsolidated entities
shall be excluded from Total Unencumbered Assets to the extent that such investments would have otherwise been included.

 

“Trade Payables” means,
with respect to any Person, any accounts payable or any other indebtedness or monetary obligation to trade creditors created, assumed
or Guaranteed by such Person or any of its Subsidiaries arising in the ordinary course of business in connection with the acquisition
of goods or services.

 

“Transaction Date” means,
with respect to the Incurrence of any Indebtedness by the Issuer or any of its Subsidiaries, the date such Indebtedness is to be
Incurred.

 

“Trust Indenture Act” means
the Trust Indenture Act of 1939, as amended.

 

“Trustee” means the party
named as such in this Indenture until a successor replaces it in accordance with the provisions of this Indenture and thereafter
means such successor.

 

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“Undepreciated Real Estate Assets”
means, as of any date, the cost (being the original cost to the Issuer or any of its Subsidiaries plus capital improvements) of
real estate assets of the Issuer and its Subsidiaries on such date, including, but not limited to, right-of-use assets associated
with leases of property required to be reflected as finance leases on the balance sheet of the Issuer and its Subsidiaries in accordance
with GAAP, before depreciation and amortization of such real estate assets, determined on a consolidated basis in conformity with
GAAP; provided, however that “Undepreciated Real Estate Assets” shall not include right-of-use assets associated with
leases of property required to be reflected as operating leases on the balance sheet of the Issuer and its Subsidiaries in accordance
with GAAP.

 

“Unsecured Indebtedness”
means any Indebtedness of the Issuer or any of its Subsidiaries that is not Secured Indebtedness.

 

“U.S. Government Obligations”
means direct obligations of, obligations guaranteed by, or participations in pools consisting solely of obligations of or obligations
guaranteed by, the United States of America for the payment of which obligations or guarantee the full faith and credit of the
United States of America is pledged and that are not callable or redeemable at the option of the issuer thereof.

 

“U.S. Legal Tender” means
such coin or currency of the United States of America that at the time of payment shall be legal tender for the payment of public
and private debts.

 

“Voting Stock” means with
respect to any Person, Capital Stock of any class or kind ordinarily having the power to vote for the election of directors, managers
or other voting members of the governing body of such Person.

 

“Wholly Owned” means, with
respect to any Subsidiary of any Person, the ownership of all of the outstanding Capital Stock of such Subsidiary (other than any
director’s qualifying shares or Investments by individuals mandated by applicable law) by such Person or one or more Wholly
Owned Subsidiaries of such Person.

 

Section 1.02       
Other Definitions.

 

	Term	Defined in Section
	“Additional Notes”	2.02
	“Authentication Order”	2.02
	“Covenant Defeasance”	8.02
	“Event of Default”	6.01
	“Four Quarter Period”	1.01
	“Global Note”	2.01
	“Initial Global Notes”	2.01
	“Initial Notes”	2.02
	“Issuer”	Preamble
	“Legal Defeasance”	8.02
	“Participants”	2.15
	“Paying Agent”	2.03
	“Payment Date”	1.01
	“Physical Notes”	2.01
	“Primary Treasury Dealer”	1.01
	“Reference Period”	1.01
	“Registrar”	2.03

 

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Section 1.03       
Incorporation by Reference of Trust Indenture Act.

 

Whenever this Indenture refers to a provision
of the Trust Indenture Act, such provision is incorporated by reference in, and made a part of, this Indenture. The following Trust
Indenture Act terms used in this Indenture have the following meanings:

 

“indenture securities”
means the Notes.

 

“indenture security holder”
means a Holder.

 

“indenture to be qualified”
means this Indenture.

 

“indenture trustee” or
“institutional trustee” means the Trustee.

 

“obligor” on the indenture
securities means the Issuer, any Subsidiary Guarantor or any other obligor on the Notes.

 

All other Trust Indenture Act terms used in
this Indenture that are defined by the Trust Indenture Act, defined by Trust Indenture Act reference to another statute or defined
by SEC rule and not otherwise defined herein have the meanings assigned to them therein.

 

Section 1.04       
Rules of Construction.

 

Unless the context otherwise requires:

 

(1)        
an accounting term not otherwise defined has the meaning assigned to it in accordance with GAAP;

 

(2)        
“or” is not exclusive;

 

(3)        
words in the singular include the plural, and words in the plural include the singular;

 

(4)        
provisions apply to successive events and transactions;

 

(5)        
“herein,” “hereof” and other words of similar import refer to this Indenture as a
whole and not to any particular Article, Section or other subdivision; and

 

(6)        
the words “including,” “includes” and similar words shall be deemed to be followed by “without
limitation.”

 

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ARTICLE
Two

THE NOTES

 

Section 2.01       
Form and Dating.

 

The Notes and the Trustee’s certificate
of authentication shall be substantially in the form of Exhibit A hereto. The Notes may have notations, legends or endorsements
required by law, stock exchange rule or usage. The Issuer shall approve the form of the Notes and any notation, legend or endorsement
on them. Each Note shall be dated the date of its issuance and show the date of its authentication. Each Note shall have an executed
Subsidiary Guarantee from each of the Subsidiary Guarantors existing on the Closing Date endorsed thereon substantially in the
form of Exhibit C.

 

The terms and provisions contained in the
Notes and the Subsidiary Guarantees shall constitute, and are hereby expressly made, a part of this Indenture and, to the extent
applicable, the Issuer, the Subsidiary Guarantors and the Trustee, by their execution and delivery of this Indenture, expressly
agree to such terms and provisions and to be bound thereby.

 

Notes issued as of the Closing Date shall
be issued in the form of one or more global Notes, each in registered form, substantially in the form set forth in Exhibit A,
deposited with the Trustee, as custodian for the Depository, duly executed by the Issuer (and having an executed Subsidiary Guarantee
from each of the Subsidiary Guarantors endorsed thereon) and authenticated by the Trustee as hereinafter provided and shall bear
any legends required by applicable law (the “Initial Global Notes”).

 

Notes issued after the Closing Date shall
be issued initially in the form of one or more global Notes in registered form, substantially in the form set forth in Exhibit
A, deposited with the Trustee, as custodian for the Depository, duly executed by the Issuer (and having an executed Subsidiary
Guarantee from each of the Subsidiary Guarantors endorsed thereon) and authenticated by the Trustee as hereinafter provided and
shall bear any legends required by applicable law (together with the Initial Global Notes, the “Global Notes”).

 

The aggregate principal amount of the Global
Notes may from time to time be increased or decreased by adjustments made on the records of the Trustee, as custodian for the Depository,
as hereinafter provided. Notes issued in exchange for interests in a Global Note may be issued in the form of definitive Notes
registered in the name or names of Persons other than a Depository for Global Notes or a nominee or nominees thereof (the “Physical
Notes”).

 

Section 2.02       
Execution, Authentication and Denomination; Additional Notes.

 

One Officer of the Issuer (who shall have
been duly authorized by all requisite corporate actions) shall sign the Notes for the Issuer by manual or facsimile signature.
One Officer of a Subsidiary Guarantor (who shall have been duly authorized by all requisite corporate or other applicable entity
actions) shall sign the Subsidiary Guarantee for such Subsidiary Guarantor by manual or facsimile signature.

 

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If an Officer whose signature is on a Note
or Subsidiary Guarantee, as the case may be, was an Officer at the time of such execution but no longer holds that office at the
time the Trustee authenticates the Note, the Note shall nevertheless be valid.

 

A Note (and the Subsidiary Guarantees in respect
thereof) shall not be valid until an authorized signatory of the Trustee manually signs the certificate of authentication on the
Note. The signature shall be conclusive evidence that the Note has been authenticated under this Indenture.

 

The Trustee shall authenticate (i) on the
Closing Date, Notes for original issue in the aggregate principal amount not to exceed $500,000,000 (the “Initial Notes”)
and (ii) Additional Notes (as defined below) in an unlimited amount (so long as not otherwise prohibited by the terms of this Indenture,
including Section 4.07) in each case upon a written order of the Issuer in the form of a certificate of an Officer of the Issuer
(an “Authentication Order”). Each such Authentication Order shall specify the amount of Notes to be authenticated
and the date on which the Notes are to be authenticated, whether the Notes are to be Initial Notes or Additional Notes and whether
the Notes are to be issued as certificated Notes or Global Notes or such other information as the Trustee may reasonably request.
In addition, with respect to authentication pursuant to clause (ii) of the first sentence of this paragraph, the first such Authentication
Order from the Issuer shall be accompanied by an Opinion of Counsel of the Issuer in a form reasonably satisfactory to the Trustee.

 

The Issuer may, from time to time, without
the consent of the Holders of the Notes, issue additional Notes (the “Additional Notes”) having the same ranking
and the same interest rate, maturity and other terms as the outstanding Notes, except for the public offering price, the issue
date and, if applicable, the initial interest payment date and initial interest accrual date.

 

All Notes issued under this Indenture, including
Additional Notes, shall be treated as a single class for all purposes under this Indenture; provided that if the Additional Notes
are not fungible for U.S. federal income tax with the Initial Notes, the Additional Notes shall be issued under a separate CUSIP
or ISIN number. The Additional Notes shall bear any legend required by applicable law.

 

The Trustee may appoint an authenticating
agent reasonably acceptable to the Issuer to authenticate Notes. Unless otherwise provided in the appointment, an authenticating
agent may authenticate Notes whenever the Trustee may do so. Each reference in this Indenture to authentication by the Trustee
includes authentication by such agent. An authenticating agent has the same rights as an Agent to deal with the Issuer and Affiliates
of the Issuer. The Trustee shall have the right to decline to authenticate and deliver any Notes under this Indenture if the Trustee,
being advised by counsel, determines that such action may not lawfully be taken or if the Trustee in good faith shall determine
that such action would expose the Trustee to personal liability.

 

The Notes shall be issuable only in registered
form without coupons in denominations of $2,000 and integral multiples of $1,000 in excess thereof.

 

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Section 2.03       
Registrar and Paying Agent.

 

The Issuer shall maintain or cause to be maintained
an office or agency in the Borough of Manhattan, The City of New York, where (a) Notes may be presented or surrendered for registration
of transfer or for exchange (“Registrar”), (b) Notes may, subject to Section 2 of the Notes, be presented or
surrendered for payment (“Paying Agent”) and (c) notices and demands to or upon the Issuer in respect of the
Notes and this Indenture may be served. The Issuer may also from time to time designate one or more other offices or agencies where
the Notes may be presented or surrendered for any or all such purposes and may from time to time rescind such designations; provided,
however, that no such designation or rescission shall in any manner relieve the Issuer of its obligation to maintain or cause
to be maintained an office or agency in the Borough of Manhattan, The City of New York, for such purposes. The Issuer may act as
Registrar or Paying Agent, except that for the purposes of Articles Three and Eight, neither the Issuer nor any Affiliate of the
Issuer shall act as Paying Agent. The Registrar shall keep a register of the Notes and of their transfer and exchange. The Issuer,
upon notice to the Trustee, may have one or more co-registrars and one or more additional paying agents reasonably acceptable to
the Trustee. The term “Registrar” includes any co-registrar and the term “Paying Agent” includes any additional
paying agent. The Issuer initially appoints the Trustee as Registrar and Paying Agent until such time as the Trustee has resigned
or a successor has been appointed.

 

The Issuer shall enter into an appropriate
agency agreement with any Agent not a party to this Indenture, which agreement shall implement the provisions of this Indenture
that relate to such Agent. The Issuer shall notify the Trustee, in advance, of the name and address of any such Agent. If the Issuer
fails to maintain a Registrar or Paying Agent, the Trustee shall act as such.

 

Section 2.04       
Paying Agent To Hold Assets in Trust.

 

The Issuer shall require each Paying Agent
other than the Trustee or the Issuer or any Subsidiary to agree in writing that each Paying Agent shall hold in trust for the benefit
of Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, or interest on, the Notes (whether
such assets have been distributed to it by the Issuer or any other obligor on the Notes), and shall notify the Trustee of any Default
by the Issuer (or any other obligor on the Notes) in making any such payment. The Issuer at any time may require a Paying Agent
to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during
the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets
held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall
have been delivered by the Issuer to the Paying Agent, the Paying Agent shall have no further liability for such assets.

 

Section 2.05       
Holder Lists.

 

The Trustee shall preserve in as current a
form as is reasonably practicable the most recent list available to it of the names and addresses of Holders. If the Trustee is
not the Registrar, the Issuer shall furnish to the Trustee at least two (2) Business Days prior to each Interest Payment Date and
at such other times as the Trustee may request in writing a list, in such form and as of such date as the Trustee may reasonably
require, of the names and addresses of Holders, which list may be conclusively relied upon by the Trustee.

 

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Section 2.06       
Transfer and Exchange.

 

Subject to Section 2.15, when Notes are presented
to the Registrar with a request to register the transfer of such Notes or to exchange such Notes for an equal principal amount
of Notes of other authorized denominations, the Registrar shall register the transfer or make the exchange as requested if its
requirements for such transaction are met; provided, however, that the Notes surrendered for transfer or exchange shall
be duly endorsed or accompanied by a written instrument of transfer in form satisfactory to the Issuer and the Registrar, duly
executed by the Holder thereof or his or her attorney duly authorized in writing. To permit registrations of transfers and exchanges,
the Issuer shall execute and the Trustee shall authenticate Notes at the Registrar’s request. No service charge shall be
made for any registration of transfer or exchange, but the Issuer may require payment of a sum sufficient to cover any transfer
tax or similar governmental charge payable in connection therewith.

 

Without the prior written consent of the Issuer,
the Registrar shall not be required to register the transfer of or exchange of any Note (i) during a period beginning at the opening
of business 15 days before the mailing of a notice of redemption of Notes and ending at the close of business on the day of such
mailing, (ii) selected for redemption in whole or in part pursuant to Article Three, except the unredeemed portion of any Note
being redeemed in part, and (iii) beginning at the opening of business on any Record Date and ending on the close of business on
the related Interest Payment Date.

 

Any Holder of a beneficial interest in a Global
Note shall, by acceptance of such beneficial interest, agree that transfers of beneficial interests in such Global Notes may be
effected only through a book-entry system maintained by the Holder of such Global Note (or its agent) in accordance with the applicable
legends thereon, and that ownership of a beneficial interest in the Note shall be required to be reflected in a book-entry system.

 

Section 2.07       
Replacement Notes.

 

If a mutilated Note is surrendered to the
Trustee or if the Holder of a Note claims that the Note has been lost, destroyed or wrongfully taken, the Issuer shall issue and
the Trustee shall authenticate a replacement Note if the Trustee’s requirements are met. Such Holder must provide an indemnity
bond or other indemnity, sufficient in the judgment of both the Issuer and the Trustee, to protect the Issuer, the Trustee or any
Agent from any loss which any of them may suffer if a Note is replaced. The Issuer may charge such Holder for its reasonable out-of-pocket
expenses in replacing a Note pursuant to this Section 2.07, including reasonable fees and expenses of counsel and of the Trustee.

 

Every replacement Note is an additional obligation
of the Issuer and every replacement Subsidiary Guarantee shall constitute an additional obligation of the Subsidiary Guarantor
thereof.

 

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The provisions of this Section 2.07 are exclusive
and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of lost, destroyed
or wrongfully taken Notes.

 

Section 2.08       
Outstanding Notes.

 

Notes outstanding at any time are all the
Notes that have been authenticated by the Trustee except those cancelled by it, those delivered to it for cancellation and those
described in this Section 2.08 as not outstanding. A Note does not cease to be outstanding because the Issuer, the Subsidiary Guarantors
or any of their respective Affiliates hold the Note (subject to the provisions of Section 2.09).

 

If a Note is replaced pursuant to Section
2.07 (other than a mutilated Note surrendered for replacement), it ceases to be outstanding unless a Responsible Officer of the
Trustee receives proof satisfactory to it that the replaced Note is held by a bona fide purchaser. A mutilated Note ceases
to be outstanding upon surrender of such Note and replacement thereof pursuant to Section 2.07.

 

If the principal amount of any Note is considered
paid under Section 4.01, it ceases to be outstanding and interest ceases to accrue. If on a Redemption Date or the Stated Maturity
the Trustee or Paying Agent (other than the Issuer or an Affiliate thereof) holds U.S. Legal Tender or U.S. Government Obligations
sufficient to pay all of the principal and interest due on the Notes payable on that date, then on and after that date such Notes
cease to be outstanding and interest on them ceases to accrue.

 

Section 2.09       
Treasury Notes.

 

In determining whether the Holders of the
required principal amount of Notes have concurred in any direction, waiver or consent, Notes owned by the Issuer or any of its
Affiliates shall be disregarded, except that, for the purposes of determining whether the Trustee shall be protected in relying
on any such direction, waiver or consent, only Notes that the Trustee has been informed in writing are so owned shall be disregarded.

 

Section 2.10       
Temporary Notes.

 

Until definitive Notes are ready for delivery,
the Issuer may prepare and the Trustee shall authenticate temporary Notes. Temporary Notes shall be substantially in the form of
definitive Notes but may have variations that the Issuer considers appropriate for temporary Notes. Without unreasonable delay,
the Issuer shall prepare and the Trustee shall authenticate definitive Notes in exchange for temporary Notes. Until such exchange,
temporary Notes shall be entitled to the same rights, benefits and privileges as definitive Notes. Notwithstanding the foregoing,
so long as the Notes are represented by a Global Note, such Global Note may be in typewritten form.

 

Section 2.11       
Cancellation.

 

The Issuer at any time may deliver Notes to
the Trustee for cancellation. The Registrar and the Paying Agent shall forward to the Trustee any Notes surrendered to them for
transfer, exchange or payment. The Trustee, or at the direction of the Trustee, the Registrar or the Paying Agent (other than the
Issuer or a Subsidiary), and no one else, shall cancel and, at the written direction of the Issuer, shall dispose of all Notes
surrendered for transfer, exchange, payment or cancellation in accordance with its customary procedures. Subject to Section 2.07,
the Issuer may not issue new Notes to replace Notes that it has paid or delivered to the Trustee for cancellation. If the Issuer
or any Subsidiary Guarantor shall acquire any of the Notes, such acquisition shall not operate as a redemption or satisfaction
of the Indebtedness represented by such Notes unless and until the same are surrendered to the Trustee for cancellation pursuant
to this Section 2.11.

 

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Section 2.12       
Defaulted Interest.

 

If the Issuer defaults in a payment of interest
on the Notes, it shall pay the defaulted interest, plus (to the extent lawful) any interest payable on the defaulted interest,
in any lawful manner. The Issuer may pay the defaulted interest to the persons who are Holders on a subsequent special record date,
which date shall be the fifteenth day next preceding the date fixed by the Issuer for the payment of defaulted interest or the
next succeeding Business Day if such date is not a Business Day. At least 15 days before any such subsequent special record date,
the Issuer shall mail to each Holder, with a copy to the Trustee, a notice that states the subsequent special record date, the
payment date and the amount of defaulted interest, and interest payable on such defaulted interest, if any, to be paid.

 

Section 2.13       
CUSIP and ISIN Numbers.

 

The Issuer in issuing the Notes may use “CUSIP”
or “ISIN” numbers, and if so, the Trustee shall use the “CUSIP” or “ISIN” numbers in notices
of redemption or exchange as a convenience to Holders; provided, however, that any such notice may state that no representation
is made as to the correctness or accuracy of the “CUSIP” or “ISIN” numbers printed in the notice or on
the Notes, and that reliance may be placed only on the other identification numbers printed on the Notes. The Issuer will promptly
notify the Trustee of any change in the “CUSIP” or “ISIN” numbers.

 

Section 2.14       
Deposit of Moneys.

 

Subject to Section 2 of the Notes, prior to
10:00 a.m. New York City time on each Interest Payment Date, Stated Maturity, Redemption Date and Payment Date, the Issuer shall
have deposited with the Paying Agent in immediately available funds money sufficient to make cash payments, if any, due on such
Interest Payment Date, Stated Maturity, Redemption Date and Payment Date, as the case may be, in a timely manner which permits
the Paying Agent to remit payment to the Holders on such Interest Payment Date, Stated Maturity, Redemption Date and Payment Date,
as the case may be.

 

Section 2.15       
Book-Entry Provisions for Global Notes.

 

(a)         
The Global Notes initially shall (i) be registered in the name of the Depository or the nominee of such Depository, (ii)
be delivered to the Trustee as custodian for such Depository and (iii) bear legends as set forth in Exhibit B, as applicable.

 

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Members of, or participants in, the Depository
(“Participants”) shall have no rights under this Indenture with respect to any Global Note held on their behalf
by the Depository, or the Trustee as its custodian, or under the Global Note, and the Depository may be treated by the Issuer,
the Trustee and any agent of the Issuer or the Trustee as the absolute owner of the Global Note for all purposes whatsoever. Notwithstanding
the foregoing, nothing herein shall prevent the Issuer, the Trustee or any agent of the Issuer or the Trustee from giving effect
to any written certification, proxy or other authorization furnished by the Depository or impair, as between the Depository and
Participants, the operation of customary practices governing the exercise of the rights of a Holder of any Note.

 

(b)         
Except as provided in this Section 2.15(b), transfers of Global Notes shall be limited to transfers in whole, but not in
part, (i) by the Depository to a nominee of the Depository, (ii) by a nominee of the Depository to the Depository or another nominee
of the Depository or (iii) by the Depository or any such nominee to a successor Depository or a nominee of such successor Depository.

 

Notwithstanding any provisions to the contrary
contained in Section 2.06 of this Indenture and in addition thereto, any Global Note shall be exchangeable pursuant to Section
2.06 of this Indenture for Physical Notes only if (i) such Depository notifies the Issuer that it is unwilling or unable to continue
as Depository for such Global Note or if at any time such Depository ceases to be a clearing agency registered under the Exchange
Act, and, in either case, the Issuer fails to appoint a successor Depository within 90 days of such event, and (ii) the Issuer
executes and delivers to the Trustee an Officers’ Certificate (and any other deliverables required hereunder) stating that
such Global Note shall be so exchangeable. Any Global Note that is exchangeable pursuant to the preceding sentence shall be exchangeable
for Physical Notes registered in such names as the Depository shall direct in writing in an aggregate principal amount equal to
the then outstanding principal amount of the Global Note with like tenor and terms.

 

(c)         
In connection with the transfer of a Global Note as an entirety to beneficial owners pursuant to paragraph (b) of this Section
2.15, such Global Note shall be deemed to be surrendered to the Trustee for cancellation, and (i) the Issuer shall execute, (ii)
the Subsidiary Guarantors shall execute notations of Subsidiary Guarantees on and (iii) the Trustee shall upon written instructions
from the Issuer authenticate and deliver, to each beneficial owner identified by the Depository in exchange for its beneficial
interest in such Global Note, an equal aggregate principal amount of Physical Notes of authorized denominations.

 

(d)         
The Holder of any Global Note may grant proxies and otherwise authorize any Person, including Participants and Persons that
may hold interests through Participants, to take any action which a Holder is entitled to take under this Indenture or the Notes.

 

(e)         
The Registrar shall retain copies of all letters, notices and other written communications received pursuant to Section
2.15. The Issuer shall have the right to inspect and make copies of all such letters, notices or other written communications at
any reasonable time upon the giving of reasonable written notice to the Registrar.

 

    21

     

    

 

(f)          
The Trustee shall have no obligation or duty to monitor, determine or inquire as to compliance with any restrictions on
transfer imposed under this Indenture or under applicable law with respect to any transfer of any interest in any Note (including
any transfers between or among Depository Participants or beneficial owners of interests in any Global Note) other than to require
delivery of such certificates and other documentation or evidence as are expressly required by, and to do so if and when expressly
required by the terms of, this Indenture, and to examine the same to determine substantial compliance as to form with the express
requirements hereof.

 

(g)         
The Trustee shall have no responsibility for the actions or omissions of the Depository, or the accuracy of the books and
records of the Depository.

 

(h)         
At such time as all beneficial interests in a particular Global Note have been exchanged for Physical Notes or a particular
Global Note has been redeemed, repurchased or canceled in whole and not in part, each such Global Note shall be returned to or
retained and canceled by the Trustee in accordance with Section 2.11 hereof. At any time prior to such cancellation, if any beneficial
interest in a Global Note is exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial
interest in another Global Note or for Physical Notes, the principal amount of Notes represented by such Global Note shall be reduced
accordingly and an endorsement shall be made on such Global Note by the Trustee or by the Depository at the direction of the Trustee
to reflect such reduction; and if the beneficial interest is being exchanged for or transferred to a Person who will take delivery
thereof in the form of a beneficial interest in another Global Note, such other Global Note shall be increased accordingly and
an endorsement shall be made on such Global Note by the Trustee or by the Depository at the direction of the Trustee to reflect
such increase.

 

ARTICLE
Three

REDEMPTION

 

Section 3.01       
Notices to Trustee.

 

If the Issuer elects to redeem Notes pursuant
to Section 5 of the Notes, it shall notify the Trustee in writing of the Redemption Date, the Redemption Price and the principal
amount of Notes to be redeemed. The Issuer shall give notice of redemption to the Trustee at least 45 days but not more than 75
days before the Redemption Date (unless a shorter notice shall be agreed to by the Trustee in writing), together with such documentation
and records as shall enable the Trustee to select the Notes to be redeemed.

 

Section 3.02       
Selection of Notes To Be Redeemed.

 

If less than all of the Notes are to be redeemed
at any time pursuant to Section 5 of the Notes, the Trustee will select Notes for redemption as follows:

 

(x)       if
the Notes are listed on a national securities exchange, in compliance with the requirements of the principal national securities
exchange on which the Notes are listed; or

 

    22

     

    

 

(y)       if
the Notes are not so listed, while the Notes are in book-entry form, in accordance with the procedures of the Depository, or if
the Notes are no longer in book-entry form, on a pro rata basis, by lot or by such method as the Trustee shall deem fair
and appropriate.

 

No Notes of $2,000 or less shall be redeemed
in part.

 

Section 3.03       
Notice of Redemption.

 

At least 15 days but not more than 60 days
before a Redemption Date, the Issuer shall mail a notice of redemption by first class mail, postage prepaid, to each Holder whose
Notes are to be redeemed at its registered address (except that a notice issued in connection with a redemption referred to in
Section 8.01 may be more than 60 days before such Redemption Date). At the Issuer’s request, the Trustee shall forward the
notice of redemption in the Issuer’s name and at the Issuer’s expense. Each notice for redemption shall identify the
Notes (including the CUSIP or ISIN number) to be redeemed and shall state:

 

(1)        
the Redemption Date;

 

(2)        
the Redemption Price and the amount of accrued interest, if any, to be paid;

 

(3)        
the name and address of the Paying Agent;

 

(4)        
that Notes called for redemption must be surrendered to the Paying Agent to collect the Redemption Price plus accrued interest,
if any;

 

(5)        
that, unless the Issuer defaults in making the redemption payment, interest on Notes called for redemption ceases to accrue
on and after the Redemption Date, and the only remaining right of the Holders of such Notes is to receive payment of the Redemption
Price upon surrender to the Paying Agent of the Notes redeemed;

 

(6)        
if any Note is being redeemed in part, the portion of the principal amount of such Note to be redeemed and that, after the
Redemption Date, and upon surrender and cancellation of such Note, a new Note or Notes in aggregate principal amount equal to the
unredeemed portion thereof will be issued;

 

(7)        
if fewer than all the Notes are to be redeemed, the identification of the particular Notes (or portion thereof) to be redeemed,
as well as the aggregate principal amount of Notes to be redeemed and the aggregate principal amount of Notes to be outstanding
after such partial redemption; and

 

(8)        
the Section of the Notes or the Indenture, as applicable, pursuant to which the Notes are to be redeemed.

 

    23

     

    

 

The notice, if mailed in a manner herein provided,
shall be conclusively presumed to have been given, whether or not the Holder receives such notice. In any case, failure to give
such notice by mail or any defect in the notice to the Holder of any Note designated for redemption in whole or in part shall not
affect the validity of the proceedings for the redemption of any other Note. Notices of redemption may not be conditional.

 

Section 3.04       
Effect of Notice of Redemption.

 

Once notice of redemption is mailed in accordance
with Section 3.03, Notes called for redemption become due and payable on the Redemption Date and at the Redemption Price plus accrued
interest, if any. Upon surrender to the Trustee or Paying Agent, such Notes called for redemption shall be paid at the Redemption
Price (which shall include accrued interest thereon to, but not including, the Redemption Date), but installments of interest,
the maturity of which is on or prior to the Redemption Date, shall be payable to Holders of record at the close of business on
the relevant Record Dates. On and after the Redemption Date interest shall cease to accrue on Notes or portions thereof called
for redemption unless the Issuer shall have not complied with its obligations pursuant to Section 3.05.

 

Section 3.05       
Deposit of Redemption Price.

 

On or before 10:00 a.m. New York time on the
Redemption Date, the Issuer shall deposit with the Paying Agent U.S. Legal Tender sufficient to pay the Redemption Price plus accrued
and unpaid interest, if any, of all Notes to be redeemed on that date.

 

If the Issuer complies with the preceding
paragraph, then, unless the Issuer defaults in the payment of such Redemption Price plus accrued interest, if any, interest on
the Notes to be redeemed will cease to accrue on and after the applicable Redemption Date, whether or not such Notes are presented
for payment.

 

Section 3.06       
Notes Redeemed in Part.

 

If any Note is to be redeemed in part only,
the notice of redemption that relates to such Note shall state the portion of the principal amount thereof to be redeemed. A new
Note or Notes in principal amount equal to the unredeemed portion of the original Note or Notes shall be issued in the name of
the Holder thereof upon surrender and cancellation of the original Note or Notes.

 

ARTICLE
Four

COVENANTS

 

Section 4.01       
Payment of Notes.

 

The Issuer shall pay the principal of, premium,
if any, and interest on the Notes in the manner provided in the Notes and this Indenture. An installment of principal of, or interest
on, the Notes shall be considered paid on the date it is due if the Trustee or Paying Agent (other than the Issuer or an Affiliate
thereof) holds on that date U.S. Legal Tender designated for and sufficient to pay the installment. Interest on the Notes will
be computed on the basis of a 360-day year comprised of twelve 30-day months.

 

    24

     

    

 

The Issuer shall pay interest on overdue principal
(including post-petition interest in a proceeding under any Bankruptcy Law), and overdue interest, to the extent lawful, at the
same rate per annum borne by the Notes.

 

Section 4.02       
Maintenance of Office or Agency.

 

The Issuer shall maintain in the Borough of
Manhattan, The City of New York, the office or agency required under Section 2.03 (which may be an office of the Trustee or an
affiliate of the Trustee or Registrar). The Issuer shall give prompt written notice to the Trustee of the location, and any change
in the location, of such office or agency. If at any time the Issuer shall fail to maintain any such required office or agency
or shall fail to furnish the Trustee with the address thereof, such presentations, surrenders, notices and demands may be made
or served at the address of the Trustee set forth in Section 11.02.

 

The Issuer may also from time to time designate
one or more other offices or agencies where the Notes may be presented or surrendered for any or all such purposes and may from
time to time rescind such designations. The Issuer will give prompt written notice to the Trustee of any such designation or rescission
and of any change in the location of any such other office or agency.

 

The Issuer hereby initially designates U.S.
Bank National Association, located at Two Midtown Plaza, 1349 W. Peachtree Street, NW., Suite 1050, EX-GA-ATPT, Atlanta, Georgia
30309, Attention: Corporate Trust Department, as such office of the Issuer in accordance with Section 2.03.

 

Section 4.03       
Corporate Existence.

 

Except as otherwise permitted by Article Five,
the Issuer shall do or cause to be done all things necessary to preserve and keep in full force and effect its corporate existence
and the corporate, partnership or other existence of each of its Subsidiaries in accordance with the respective organizational
documents of each such Subsidiary and the material rights (charter and statutory) and material franchises of the Issuer and each
of its Subsidiaries; provided, however, that the Issuer shall not be required to preserve any such right, franchise or corporate
existence with respect to itself or any Subsidiary if the Board of Directors shall determine that the preservation thereof is no
longer desirable in the conduct of the business of the Issuer and its Subsidiaries, taken as a whole, and that the loss thereof
is not adverse in any material respect to the Holders of the Notes.

 

Section 4.04       
Payment of Taxes.

 

The Issuer and the Subsidiary Guarantors shall,
and shall cause each of the Subsidiaries to, pay or discharge or cause to be paid or discharged, before the same shall become delinquent,
(a) all material taxes, assessments and governmental charges levied or imposed upon it or any of the Subsidiaries or upon the income,
profits or property of it or any of the Subsidiaries and (b) all lawful claims for labor, materials and supplies which, in each
case, if unpaid, might by law become a material liability or Lien upon the property of it or any of the Subsidiaries; provided,
however, that the Issuer and the Subsidiary Guarantors shall not be required to pay or discharge or cause to be paid or discharged
any such tax, assessment, charge or claim whose amount the applicability or validity is being contested in good faith by appropriate
actions and for which appropriate provision has been made.

 

    25

     

    

 

Section 4.05       
Compliance Certificate; Notice of Default.

 

(a)         
The Issuer shall deliver to the Trustee, within 90 days after the close of each fiscal year, an Officers’ Certificate
stating that a review of the activities of the Issuer and its Subsidiaries has been made under the supervision of the signing Officers
with a view to determining whether the Issuer and the Subsidiary Guarantors have kept, observed, performed and fulfilled their
obligations under this Indenture and further stating, as to each such Officer signing such certificate, that to the best of such
Officer’s knowledge, the Issuer and the Subsidiary Guarantors during such preceding fiscal year has kept, observed, performed
and fulfilled each and every such covenant and no Default occurred during such year and at the date of such certificate there is
no Default that has occurred and is continuing or, if such signers do know of such Default, the certificate shall specify such
Default and what action, if any, the Issuer is taking or proposes to take with respect thereto. The Officers’ Certificate
shall also notify the Trustee should the Issuer elect to change the manner in which it fixes the fiscal year end.

 

(b)         
The Issuer shall deliver to the Trustee promptly and in any event within five days after the Issuer becomes aware of the
occurrence of any Default an Officers’ Certificate specifying the Default and what action, if any, the Issuer is taking or
proposes to take with respect thereto.

 

Section 4.06       
Waiver of Stay, Extension or Usury Laws.

 

The Issuer and each Subsidiary Guarantor covenants
(to the extent permitted by applicable law) that it will not at any time insist upon, plead, or in any manner whatsoever claim
or take the benefit or advantage of, any stay or extension law or any usury law or other law that would prohibit or forgive the
Issuer or such Subsidiary Guarantor from paying all or any portion of the principal of and/or interest on the Notes or the Subsidiary
Guarantee of any such Subsidiary Guarantor as contemplated herein, wherever enacted, now or at any time hereafter in force, or
which may affect the covenants or the performance of this Indenture, and (to the extent permitted by applicable law) each hereby
expressly waives all benefit or advantage of any such law, and covenants that it will not hinder, delay or impede the execution
of any power herein granted to the Trustee, but will suffer and permit the execution of every such power as though no such law
had been enacted.

 

Section 4.07       
Limitation on Indebtedness.

 

(a)         
The Issuer will not, and will not permit any of its Subsidiaries to, Incur any Indebtedness (including Acquired Indebtedness)
if, immediately after giving effect to the Incurrence of such additional Indebtedness and the receipt and application of the proceeds
therefrom, the aggregate principal amount of all outstanding Indebtedness of the Issuer and its Subsidiaries on a consolidated
basis determined in conformity with GAAP is greater than 60% of Adjusted Total Assets.

 

    26

     

    

 

(b)         
The Issuer will not, and will not permit any of its Subsidiaries to, Incur any Secured Indebtedness if, immediately after
giving effect to the Incurrence of such additional Secured Indebtedness and the receipt and application of the proceeds therefrom,
the aggregate principal amount of all outstanding Secured Indebtedness of the Issuer and its Subsidiaries on a consolidated basis
determined in conformity with GAAP is greater than 40% of Adjusted Total Assets.

 

(c)         
The Issuer will not, and will not permit any of its Subsidiaries to, Incur any Indebtedness other than the Notes issued
on the Closing Date and other Indebtedness existing on the Closing Date; provided, however, that the Issuer or any of its
Subsidiaries may Incur Indebtedness if, after giving effect to the Incurrence of such Indebtedness and the receipt and application
of the proceeds therefrom, the Interest Coverage Ratio of the Issuer and its Subsidiaries on a consolidated basis would be greater
than 1.5 to 1.0.

 

(d)         
Notwithstanding any other provision of this Section 4.07, the maximum amount of Indebtedness that the Issuer or any of its
Subsidiaries may Incur pursuant to this Section 4.07 shall not be deemed to be exceeded, with respect to any outstanding Indebtedness,
due solely to the result of fluctuations in the exchange rates of currencies.

 

(e)         
For purposes of determining any particular amount of Indebtedness under this Section 4.07, Guarantees, Liens or obligations
with respect to letters of credit supporting Indebtedness otherwise included in the determination of such particular amount shall
not be included.

 

Section 4.08       
Maintenance of Total Unencumbered Assets.

 

The Issuer and its Subsidiaries will maintain
Total Unencumbered Assets of not less than 150% of the aggregate outstanding principal amount of the Unsecured Indebtedness of
the Issuer and its Subsidiaries on a consolidated basis.

 

Section 4.09       
Limitation on Issuances of Guarantees by Subsidiaries.

 

The Issuer will not permit any of its Subsidiaries,
directly or indirectly, at any time after the issuance of the Notes (including following any release of a Subsidiary Guarantor
from its obligations under this Indenture) to Guarantee any Indebtedness of the Issuer (that would constitute Indebtedness under
clauses (1) or (2) of the definition thereof) in an amount at least equal to $50 million, unless such Subsidiary simultaneously
executes and delivers a supplemental indenture to this Indenture providing for a Subsidiary Guarantee by such Subsidiary.

 

Section 4.10       
Reports to Holders.

 

Whether or not the Issuer is then required
to file reports with the SEC, the Issuer shall file with the SEC all such reports and other information as it would be required
to file with the SEC pursuant to Section 13(a) or 15(d) under the Exchange Act if it was subject thereto; provided, however,
that, if filing such documents by the Issuer with the SEC is not permitted under the Exchange Act, the Issuer shall provide such
documents to the Trustee and upon written request supply copies of such documents to any prospective Holder. The Issuer shall supply
the Trustee and each Holder or shall supply to the Trustee for forwarding to each Holder, without cost to such Holder and at the
expense of the Issuer, copies of such reports and other information.

 

    27

     

    

 

ARTICLE
Five

SUCCESSOR CORPORATION

 

Section 5.01       
Consolidation, Merger and Sale of Assets.

 

(a)         
The Issuer will not consolidate with or merge with or into, or sell, convey, transfer, lease or otherwise dispose of all
or substantially all of its property and assets (as an entirety or substantially an entirety in one transaction or a series of
related transactions) to, any Person or permit any Person to merge with or into the Issuer unless:

 

(1)        
the Issuer shall be the continuing Person, or the Person (if other than the Issuer) formed by such consolidation or into
which the Issuer is merged or that acquired or leased such property and assets of the Issuer shall be a corporation, general or
limited partnership, limited liability company or other entity (other than an individual) organized and validly existing under
the laws of the United States of America or any state or jurisdiction thereof and shall expressly assume, by a supplemental indenture,
executed and delivered to the Trustee, all of the obligations of the Issuer on the Notes and under this Indenture;

 

(2)        
immediately after giving effect to such transaction, no Default or Event of Default shall have occurred and be continuing;

 

(3)        
immediately after giving effect to such transaction on a pro forma basis the Issuer, or any Person becoming the successor
obligor of the Notes, as the case may be, could Incur at least $1.00 of Indebtedness under paragraphs (a), (b) and (c) of Section
4.07; provided, however, that this clause (3) shall not apply to a consolidation or merger with or into a Wholly Owned Subsidiary
with a positive net worth; provided further, however, that, in connection with any such merger or consolidation,
no consideration (other than Capital Stock (other than Disqualified Stock) in the surviving Person or the Issuer) shall be issued
or distributed to the holders of Capital Stock of the Issuer; and

 

(4)        
the Issuer delivers to the Trustee an Officers’ Certificate (attaching the arithmetic computations to demonstrate
compliance with clause (3) above) and an Opinion of Counsel, in each case stating that such consolidation, merger or transfer and
such supplemental indenture complies with this Section 5.01 and that all conditions precedent provided for herein relating to such
transaction have been complied with; provided, however, that clause (3) above does not apply if, in the good faith determination
of the Board of Directors of the Issuer, whose determination shall be evidenced by a Board Resolution, the principal purpose of
such transaction is to change the state of domicile of the Issuer; provided further, however, that any such transaction
shall not have as one of its purposes the evasion of the foregoing limitations.

 

    28

     

    

 

(b)         
Except as provided in Section 10.04, no Subsidiary Guarantor may consolidate with or merge with or into (whether or not
such Subsidiary Guarantor is the surviving Person) another Person, unless:

 

(1)        
either such Subsidiary Guarantor shall be the continuing Person or the Person (if other than such Subsidiary Guarantor)
formed by such consolidation or into which such Subsidiary Guarantor is merged shall be a corporation or other legal entity organized
and validly existing under the laws of the United States of America or any state or jurisdiction thereof and shall expressly assume,
by a supplemental indenture, executed and delivered to the Trustee, all of the obligations of such Subsidiary Guarantor under the
Subsidiary Guarantee of such Subsidiary Guarantor and under this Indenture; and

 

(2)        
immediately after giving effect to such transaction, no Default or Event of Default shall have occurred and be continuing.

 

(c)         
For purposes of the foregoing, the transfer (by lease, assignment, sale or otherwise, in a single transaction or series
of transactions) of all or substantially all of the properties or assets of one or more Subsidiary Guarantors, the Capital Stock
of which constitutes all or substantially all of the properties and assets of the Issuer, will be deemed to be the transfer of
all or substantially all of the properties and assets of the Issuer.

 

(d)         
Upon any such consolidation, combination or merger of the Issuer or a Subsidiary Guarantor, or any such sale, conveyance,
transfer, lease or other disposition of all or substantially all of the assets of the Issuer in accordance with this Section 5.01,
in which the Issuer or such Subsidiary Guarantor is not the continuing obligor under the Notes or its Subsidiary Guarantee, the
surviving entity formed by such consolidation or into which the Issuer or such Subsidiary Guarantor is merged or the entity to
which the sale, conveyance, transfer, lease or other disposition is made will succeed to, and be substituted for, and may exercise
every right and power of, the Issuer or such Subsidiary Guarantor under this Indenture, the Notes and the Subsidiary Guarantees
with the same effect as if such surviving entity had been named therein as the Issuer or such Subsidiary Guarantor and, except
in the case of a lease, the Issuer or such Subsidiary Guarantor, as the case may be, will be released from the obligation to pay
the principal of and interest on the Notes or in respect of its Subsidiary Guarantee, as the case may be, and all of the Issuer’s
or such Subsidiary Guarantor’s other obligations and covenants under the Notes, this Indenture and its Subsidiary Guarantee,
if applicable.

 

(e)         
Notwithstanding the foregoing, any Subsidiary Guarantor may (i) consolidate with or merge with or into the Issuer or another
Subsidiary Guarantor or (ii) convert into a corporation, general or limited partnership, limited liability company or trust organized
under the laws of such Subsidiary Guarantor’s jurisdiction of organization or the laws of the United States of America or
any state or jurisdiction thereof.

 

    29

     

    

 

ARTICLE
Six

DEFAULT AND REMEDIES

 

Section 6.01       
Events of Default.

 

Each of the following is an “Event
of Default”:

 

(1)        
default in the payment of principal of, or premium, if any, on any Note when they are due and payable at maturity, upon
acceleration, redemption or otherwise;

 

(2)        
default in the payment of interest on any Note when it is due and payable, and such default continues for a period of 30
days;

 

(3)        
default in the performance or breach of the provisions of this Indenture applicable to mergers, consolidations and transfers
of all or substantially all of the assets of the Issuer;

 

(4)        
the Issuer defaults in the performance of or breaches any other covenant or agreement of the Issuer in this Indenture or
under the Notes (other than a default specified in clause (1), (2) or (3) above) and such default or breach continues for the earlier
of (i) 60 consecutive days and (ii) such shorter period specified for comparable defaults under any Existing Note Indenture (or
under any indenture pursuant to which the Issuer or a Subsidiary Guarantor has issued any Indebtedness that refinances or refunds
(x) the Indebtedness under such Existing Note Indenture or (y) such refinancing or refunding Indebtedness) after written notice
by the Trustee or the Holders of 25% or more in aggregate principal amount of the Notes;

 

(5)        
there occurs with respect to any issue or issues of Indebtedness of the Issuer or any Significant Subsidiary having an outstanding
principal amount of $50 million or more in the aggregate for all such issues of all such Persons, whether such Indebtedness now
exists or shall hereafter be created,

 

(i)                
an event of default that has caused the Holder thereof to declare such Indebtedness to be due and payable prior to its Stated
Maturity and such Indebtedness has not been discharged in full or such acceleration has not been rescinded or annulled within 30
days of such acceleration, and/or

 

(ii)             
the failure to make a principal payment at the final (but not any interim) fixed maturity and such defaulted payment shall
not have been made, waived or extended within 30 days of such payment default;

 

    30

     

    

 

(6)        
a court of competent jurisdiction enters a decree or order for:

 

(i)                
relief in respect of the Issuer or any Significant Subsidiary in an involuntary case under any applicable Bankruptcy Law
now or hereafter in effect,

 

(ii)             
appointment of a receiver, liquidator, assignee, custodian, trustee, sequestrator or similar official of the Issuer or any
Significant Subsidiary or for all or substantially all of the property and assets of the Issuer or any Significant Subsidiary,
or

 

(iii)           
the winding up or liquidation of the affairs of the Issuer or any Significant Subsidiary and, in each case, such decree
or order shall remain unstayed and in effect for a period of 60 consecutive days; or

 

(7)        
the Issuer or any Significant Subsidiary:

 

(i)                
commences a voluntary case under any applicable Bankruptcy Law now or hereafter in effect, or consents to the entry of an
order for relief in an involuntary case under such law,

 

(ii)             
consents to the appointment of or taking possession by a receiver, liquidator, assignee, custodian, trustee, sequestrator
or similar official of the Issuer or such Significant Subsidiary or for all or substantially all of the property and assets of
the Issuer or such Significant Subsidiary, or

 

(iii)           
effects any general assignment for the benefit of its creditors.

 

Section 6.02       
Acceleration.

 

If an Event of Default (other than an Event
of Default specified in clause (6) or (7) of Section 6.01 that occurs with respect to the Issuer) occurs and is continuing under
this Indenture, the Trustee or the Holders of at least 25% in aggregate principal amount of the Notes then outstanding, by written
notice to the Issuer (and to the Trustee if such notice is given by the Holders), may, and the Trustee at the request of the Holders
of at least 25% in aggregate principal amount of the Notes then outstanding shall, declare the principal of, premium, if any, and
accrued interest on the Notes to be immediately due and payable. Upon a declaration of acceleration, such principal of, premium,
if any, and accrued interest shall be immediately due and payable. In the event of a declaration of acceleration because an Event
of Default set forth in clause (5) of Section 6.01 has occurred and is continuing, such declaration of acceleration shall be automatically
rescinded and annulled if the event of default triggering such Event of Default pursuant to clause (5) of Section 6.01 shall be
remedied or cured by the Issuer or the relevant Significant Subsidiary or waived by the holders of the relevant Indebtedness within
60 days after the declaration of acceleration with respect thereto.

 

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If an Event or Default specified in clause
(6) or (7) of Section 6.01 occurs with respect to the Issuer, the principal of, premium, if any, and accrued interest on the Notes
then outstanding shall automatically become and be immediately due and payable without any declaration or other act on the part
of the Trustee or any Holder. The Holders of at least a majority in principal amount of the outstanding Notes, by written notice
to the Issuer and to the Trustee, may waive all past defaults and rescind and annul a declaration of acceleration and its consequences
if:

 

(x)       all
existing Events of Default, other than the nonpayment of the principal of, premium, if any, and interest on the Notes that have
become due solely by such declaration of acceleration, have been cured or waived;

 

(y)       the
rescission would not conflict with any judgment or decree of a court of competent jurisdiction; and

 

(z)       in
the event of a cure or waiver of a Default of the type set forth in Section 6.01(6) or (7), the Trustee shall have received an
Officers’ Certificate and an Opinion of Counsel that such Default has been cured or waived.

 

No such rescission shall affect any subsequent
Default or impair any right consequent thereto.

 

Section 6.03       
Other Remedies.

 

If a Default occurs and is continuing, the
Trustee may pursue any available remedy by proceeding at law or in equity to collect the payment of principal of, or interest on,
the Notes or to enforce the performance of any provision of the Notes or this Indenture.

 

The Trustee may maintain a proceeding even
if it does not possess any of the Notes or does not produce any of them in the proceeding. A delay or omission by the Trustee or
any Holder in exercising any right or remedy accruing upon a Default shall not impair the right or remedy or constitute a waiver
of or acquiescence in the Default. No remedy is exclusive of any other remedy. All available remedies are cumulative to the extent
permitted by law.

 

Section 6.04       
Waiver of Past Defaults.

 

Subject to Sections 2.09, 6.07 and 9.02, the
Holders of a majority in principal amount of the outstanding Notes (which may include consents obtained in connection with a tender
offer or exchange offer of Notes) by notice to the Trustee may waive an existing Default and its consequences, except a Default
in the payment of principal of, or interest on, any Note as specified in Section 6.01(1) or (2). The Issuer shall deliver to the
Trustee an Officers’ Certificate stating that the requisite percentage of Holders have consented to such waiver and attaching
copies of such consents. When a Default is waived, it is cured and ceases.

 

Section 6.05       
Control by Majority.

 

The Holders of at least a majority in aggregate
principal amount of the outstanding Notes may direct the time, method and place of conducting any proceeding for any remedy available
to the Trustee or exercising any trust or power conferred on the Trustee. Subject to Section 7.01, however, the Trustee may refuse
to follow any direction that conflicts with law or this Indenture, that may involve the Trustee in personal liability, or that
the Trustee determines in good faith may be unduly prejudicial to the rights of Holders of Notes not joining in the giving of such
direction received from the Holders of Notes; provided, however, that the Trustee may take any other action deemed proper
by the Trustee which is not inconsistent with any such direction received from the Holders of the Notes.

 

    32

     

    

 

In the event the Trustee takes any action
or follows any direction pursuant to this Indenture, the Trustee shall be entitled to indemnification against any loss or expense
caused by taking such action or following such direction.

 

Section 6.06       
Limitation on Suits.

 

No Holder will have any right to institute
any proceeding with respect to this Indenture or for any remedy thereunder, unless:

 

(1)        
the Holder gives the Trustee written notice of a continuing Event of Default;

 

(2)        
the Holders of at least 25% in aggregate principal amount of outstanding Notes make a written request to the Trustee to
pursue the remedy;

 

(3)        
such Holder or Holders offer the Trustee indemnity satisfactory to the Trustee against any costs, liability or expense;

 

(4)        
the Trustee does not comply with the request within 60 days after receipt of the request and the offer of indemnity; and

 

(5)        
during such 60-day period, the Holders of a majority in aggregate principal amount of the outstanding Notes do not give
the Trustee a direction that is inconsistent with the request.

 

However, such limitations do not apply to
the right of any Holder of a Note to receive payment of the principal of, premium, if any, or interest on, such Note or to bring
suit for the enforcement of any such payment on or after the due date expressed in the Notes, which right shall not be impaired
or affected without the consent of the Holder.

 

A Holder may not use this Indenture to prejudice
the rights of another Holder or to obtain a preference or priority over such other Holder.

 

Section 6.07       
Rights of Holders To Receive Payment.

 

Notwithstanding any other provision of this
Indenture, the right of any Holder to receive payment of principal of and premium, if any, and interest on, a Note, on or after
the respective due dates therefor, or to bring suit for the enforcement of any such payment on or after such respective dates,
shall not be impaired or affected without the consent of the Holder.

 

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Section 6.08       
Collection Suit by Trustee.

 

If a Default in payment of principal or interest
specified in Section 6.01(1) or (2) occurs and is continuing, the Trustee may recover judgment in its own name and as trustee of
an express trust against the Issuer or any other obligor on the Notes for the whole amount of principal and accrued interest and
fees remaining unpaid, together with interest on overdue principal and, to the extent that payment of such interest is lawful,
interest on overdue installments of interest, in each case at the rate per annum borne by the Notes and such further amount
as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements
and advances of the Trustee, its agents and counsel.

 

Section 6.09       
Trustee May File Proofs of Claim.

 

The Trustee may file such proofs of claim
and other papers or documents as may be necessary or advisable in order to have the claims of the Trustee (including any claim
for the compensation, expenses, disbursements and advances of the Trustee, its agents and counsel) and the Holders allowed in any
judicial proceedings relating to the Issuer, their creditors or their property and shall be entitled and empowered to collect and
receive any monies or other property payable or deliverable on any such claims and to distribute the same, and any Custodian in
any such judicial proceedings is hereby authorized by each Holder to make such payments to the Trustee and, in the event that the
Trustee shall consent to the making of such payments directly to the Holders, to pay to the Trustee any amount due to it for the
reasonable compensation, expenses, disbursements and advances of the Trustee, its agent and counsel, and any other amounts due
the Trustee under Section 7.07. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or
accept or adopt on behalf of any Holder any plan of reorganization, arrangement, adjustment or composition affecting the Notes
or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding.
The Trustee shall be entitled to participate as a member of any official committee of creditors in the matters as it deems necessary
or advisable.

 

Section 6.10       
Priorities.

 

If the Trustee collects any money or property
pursuant to this Article Six, it shall pay out the money or property in the following order:

 

First: to the Trustee for
amounts due under Section 7.07;

 

Second: to Holders for interest
accrued on the Notes, ratably, without preference or priority of any kind, according to the amounts due and payable on the Notes
for interest;

 

Third: to Holders for principal
amounts due and unpaid on the Notes, ratably, without preference or priority of any kind, according to the amounts due and payable
on the Notes for principal; and

 

Fourth: to the Issuer or,
if applicable, the Subsidiary Guarantors, as their respective interests may appear.

 

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The Trustee, upon prior notice to the Issuer,
may fix a record date and payment date for any payment to Holders pursuant to this Section 6.10.

 

Section 6.11       
Undertaking for Costs.

 

In any suit for the enforcement of any right
or remedy under this Indenture or in any suit against the Trustee for any action taken or omitted by it as Trustee, a court in
its discretion may require the filing by any party litigant in the suit of an undertaking to pay the costs of the suit, and the
court in its discretion may assess reasonable costs, including reasonable attorneys’ fees and expenses, against any party
litigant in the suit, having due regard to the merits and good faith of the claims or defenses made by the party litigant. This
Section 6.11 does not apply to a suit by the Trustee, a suit by a Holder pursuant to Section 6.07, or a suit by a Holder or Holders
of more than 10% in principal amount of the outstanding Notes.

 

ARTICLE
Seven

TRUSTEE

 

Section 7.01       
Duties of Trustee.

 

(a)         
If a Default has occurred and is continuing, the Trustee shall exercise such of the rights and powers vested in it by this
Indenture and use the same degree of care and skill in their exercise as a prudent person would exercise or use under the circumstances
in the conduct of his or her own affairs.

 

(b)         
Except during the continuance of a Default:

 

(1)        
The Trustee need perform only those duties as are specifically set forth herein or in the Trust Indenture Act and no duties,
covenants, responsibilities or obligations shall be implied in this Indenture against the Trustee.

 

(2)        
In the absence of bad faith on its part, the Trustee may conclusively rely, as to the truth of the statements and the correctness
of the opinions expressed therein, upon certificates (including Officers’ Certificates) or opinions (including Opinions of
Counsel) furnished to the Trustee and conforming to the requirements of this Indenture. However, in the case of any such certificates
or opinions which by any provision hereof are specifically required to be furnished to the Trustee, the Trustee shall examine the
certificates and opinions to determine whether or not they conform to the requirements of this Indenture.

 

(c)         
Notwithstanding anything to the contrary herein, the Trustee may not be relieved from liability for its own negligent action,
its own negligent failure to act, or its own willful misconduct, except that:

 

(1)        
This paragraph does not limit the effect of Section 7.01(b).

 

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(2)        
The Trustee shall not be liable for any error of judgment made in good faith by a Responsible Officer, unless it is proved
that the Trustee was negligent in ascertaining the pertinent facts.

 

(3)        
The Trustee shall not be liable with respect to any action it takes or omits to take in good faith in accordance with a
direction received by it pursuant to Section 6.05.

 

(d)         
No provision of this Indenture shall require the Trustee to expend or risk its own funds or otherwise incur any financial
liability in the performance of any of its duties hereunder or to take or omit to take any action under this Indenture or take
any action at the request or direction of Holders if it shall have reasonable grounds for believing that repayment of such funds
is not assured to it.

 

(e)         
Whether or not therein expressly so provided, every provision of this Indenture that in any way relates to the Trustee is
subject to this Section 7.01.

 

(f)          
The Trustee shall not be liable for interest on any money received by it except as the Trustee may agree in writing with
the Issuer. Money held in trust by the Trustee need not be segregated from other funds except to the extent required by law.

 

(g)         
In the absence of bad faith, negligence or willful misconduct on the part of the Trustee, the Trustee shall not be responsible
for the application of any money by any Paying Agent other than the Trustee.

 

Section 7.02       
Rights of Trustee.

 

Subject to Section 7.01:

 

(a)         
The Trustee may rely conclusively on any resolution, certificate (including any Officers’ Certificate), statement,
instrument, opinion (including any Opinion of Counsel), notice, request, direction, consent, order, bond, debenture, or other paper
or document believed by it to be genuine and to have been signed or presented by the proper Person. The Trustee need not investigate
any fact or matter stated in the document.

 

(b)         
Before the Trustee acts or refrains from acting, it may require an Officers’ Certificate and an Opinion of Counsel,
which shall conform to the provisions of Section 11.05. The Trustee shall not be liable for any action it takes or omits to take
in good faith in reliance on such Officers’ Certificate or Opinion of Counsel.

 

(c)         
The Trustee may act through its attorneys and agents and shall not be responsible for the misconduct or negligence of any
agent (other than an agent who is an employee of the Trustee) appointed with due care.

 

(d)         
The Trustee shall not be liable for any action it takes or omits to take in good faith which it reasonably believes to be
authorized or within its rights or powers under this Indenture.

 

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(e)         
The Trustee may consult with counsel of its selection and the advice or opinion of such counsel as to matters of law shall
be full and complete authorization and protection from liability in respect of any action taken, omitted or suffered by it hereunder
in good faith and in accordance with the advice or opinion of such counsel.

 

(f)          
The Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the request,
order or direction of any of the Holders pursuant to the provisions of this Indenture, unless such Holders shall have offered to
the Trustee reasonable security or indemnity satisfactory to it against the costs, expenses and liabilities which may be incurred
therein or thereby.

 

(g)         
The Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate
(including any Officers’ Certificate), statement, instrument, opinion (including any Opinion of Counsel), notice, request,
direction, consent, order, bond, debenture, or other paper or document, but the Trustee, in its discretion, may make such further
inquiry or investigation into such facts or matters as it may see fit and, if the Trustee shall determine to make such further
inquiry or investigation, it shall be entitled, upon reasonable notice to the Issuer, to examine the books, records, and premises
of the Issuer, personally or by agent or attorney at the sole cost of the Issuer.

 

(h)         
The Trustee shall not be required to give any bond or surety in respect of the performance of its powers and duties hereunder.

 

(i)           
The permissive rights of the Trustee to do things enumerated in this Indenture shall not be construed as duties.

 

(j)           
Except with respect to Section 4.01 and 4.05, the Trustee shall have no duty to inquire as to the performance of the Issuer
with respect to the covenants contained in Article Four. In addition, the Trustee shall not be deemed to have knowledge of an Event
of Default except (i) any Default or Event of Default occurring pursuant to Sections 4.01, 6.01(1) or 6.01(2) or (ii) any Default
or Event of Default known to a Responsible Officer.

 

(k)         
The rights, privileges, protections, immunities and benefits given to the Trustee, including its right to be indemnified,
are extended to, and shall be enforceable by, the Trustee in each of its capacities hereunder, and to each agent, custodian and
other Person employed to act hereunder.

 

Section 7.03       
Individual Rights of Trustee.

 

The Trustee in its individual or any other
capacity may become the owner or pledgee of Notes and may otherwise deal with the Issuer, its Subsidiaries or its respective Affiliates
with the same rights it would have if it were not Trustee. Any Agent may do the same with like rights. However, the Trustee must
comply with Sections 7.10 and 7.11.

 

Section 7.04       
Trustee’s Disclaimer.

 

The Trustee shall not be responsible for and
makes no representation as to the validity or adequacy of this Indenture or the Notes, it shall not be accountable for the Issuer’s
use of the proceeds from the Notes, and it shall not be responsible for any statement of the Issuer in this Indenture or any document
issued in connection with the sale of Notes or any statement in the Notes other than the Trustee’s certificate of authentication.
The Trustee makes no representations with respect to the effectiveness or adequacy of this Indenture.

 

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Section 7.05       
Notice of Default.

 

If a Default occurs and is continuing and
is deemed to be known to the Trustee pursuant to Section 7.02 (j), the Trustee shall mail to each Holder notice of the uncured
Default within 30 days after such Default occurs. Except in the case of a Default in payment of principal of, or interest on, any
Note, including an accelerated payment and the failure to make a payment on a Payment Date pursuant to a Default in complying with
the provisions of Article Five, the Trustee may withhold the notice if and so long as the Board of Directors, the executive committee,
or a trust committee of directors and/or Responsible Officers, of the Trustee in good faith determines that withholding the notice
is in the interest of the Holders.

 

Section 7.06       
Reports by Trustee to Holders.

 

Within 60 days after each December 1, beginning
with December 1, 2019, the Trustee shall, to the extent that any of the events described in Trust Indenture Act § 313(a) occurred
within the previous twelve months, but not otherwise, mail to each Holder a brief report dated as of such date that complies with
Trust Indenture Act § 313(a). The Trustee also shall comply with Trust Indenture Act §§ 313(b), 313(c) and 313(d).

 

A copy of each report at the time of its mailing
to Holders shall be mailed to the Issuer and filed with the SEC and each securities exchange, if any, on which the Notes are listed.

 

The Issuer shall notify the Trustee if the
Notes become listed on any securities exchange or of any delisting thereof and the Trustee shall comply with Trust Indenture Act
§ 313(d).

 

Section 7.07       
Compensation and Indemnity.

 

The Issuer shall pay to the Trustee from time
to time such compensation as the Issuer and the Trustee shall from time to time agree in writing for its services hereunder. The
Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall
reimburse the Trustee upon request for all reasonable disbursements, expenses and advances (including reasonable fees and expenses
of counsel) incurred or made by it in addition to the compensation for its services, except any such disbursements, expenses and
advances as may be attributable to the Trustee’s negligence, bad faith or willful misconduct. Such expenses shall include
the reasonable fees and expenses of the Trustee’s agents and counsel.

 

The Issuer shall indemnify each of the Trustee
or any predecessor Trustee and its agents for, and hold them harmless against, any and all loss, damage, claims including taxes
(other than taxes based upon, measured by or determined by the income of the Trustee), liability or expense incurred by them except
for such actions to the extent caused by any negligence, bad faith or willful misconduct on their part, arising out of or in connection
with the acceptance or administration of this trust including the reasonable costs and expenses of defending themselves against
or investigating any claim or liability in connection with the exercise or performance of any of the Trustee’s rights, powers
or duties hereunder. The Trustee shall notify the Issuer promptly of any claim asserted against the Trustee or any of its agents
for which it may seek indemnity. The Issuer may, subject to the approval of the Trustee (which approval shall not be unreasonably
withheld), defend the claim and the Trustee shall cooperate in the defense. The Trustee and its agents subject to the claim may
have separate counsel and the Issuer shall pay the reasonable fees and expenses of such counsel; provided, however, that
the Issuer will not be required to pay such fees and expenses if, subject to the approval of the Trustee (which approval shall
not be unreasonably withheld), it assumes the Trustee’s defense and there is no conflict of interest between the Issuer and
the Trustee and its agents subject to the claim in connection with such defense as reasonably determined by the Trustee. The Issuer
need not pay for any settlement made without its written consent. The Issuer need not reimburse any expense or indemnify against
any loss or liability to the extent incurred by the Trustee through its negligence, bad faith or willful misconduct.

 

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To secure the Issuer’s payment obligations
in this Section 7.07, the Trustee shall have a Lien prior to the Notes against all money or property held or collected by the Trustee,
in its capacity as Trustee, except money or property held in trust to pay principal and interest on particular Notes.

 

When the Trustee incurs expenses or renders
services after a Default specified in Section 6.01(6) or 6.01 (7) occurs, such expenses and the compensation for such services
shall be paid to the extent allowed under any Bankruptcy Law.

 

Notwithstanding any other provision in this
Indenture, the foregoing provisions of this Section 7.07 shall survive the satisfaction and discharge of this Indenture or the
appointment of a successor Trustee.

 

Section 7.08       
Replacement of Trustee.

 

The Trustee may resign at any time by so notifying
the Issuer in writing. The Holders of a majority in principal amount of the outstanding Notes may remove the Trustee by so notifying
the Issuer and the Trustee and may appoint a successor Trustee. The Issuer may remove the Trustee if:

 

(1)        
the Trustee fails to comply with Section 7.10;

 

(2)        
the Trustee is adjudged a bankrupt or an insolvent;

 

(3)        
a receiver or other public officer takes charge of the Trustee or its property; or

 

(4)        
the Trustee becomes incapable of acting.

 

If the Trustee resigns or is removed or if
a vacancy exists in the office of Trustee for any reason, the Issuer shall notify each Holder of such event and shall promptly
appoint a successor Trustee. Within one year after the successor Trustee takes office, the Holders of a majority in principal amount
of the Notes may appoint a successor Trustee to replace the successor Trustee appointed by the Issuer.

 

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A successor Trustee shall deliver a written
acceptance of its appointment to the retiring Trustee and to the Issuer. Immediately after that, the retiring Trustee shall transfer,
after payment of all sums then owing to the Trustee pursuant to Section 7.07, all property held by it as Trustee to the successor
Trustee, subject to the Lien provided in Section 7.07, the resignation or removal of the retiring Trustee shall become effective,
and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. A successor Trustee
shall mail notice of its succession to each Holder.

 

If a successor Trustee does not take office
within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuer or the Holders of at least 10%
in principal amount of the outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor
Trustee at the expense of the Issuer.

 

If the Trustee fails to comply with Section
7.10, any Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor
Trustee.

 

Notwithstanding replacement of the Trustee
pursuant to this Section 7.08, the Issuer’s obligations under Section 7.07 shall continue for the benefit of the retiring
Trustee.

 

Section 7.09       
Successor Trustee by Merger, Etc. 

 

If the Trustee consolidates with, merges or
converts into, or transfers all or substantially all of its corporate trust business to, another corporation, the resulting, surviving
or transferee corporation without any further act shall, if such resulting, surviving or transferee corporation is otherwise eligible
hereunder, be the successor Trustee; provided that such corporation shall be otherwise qualified and eligible under this Article
Seven.

 

Section 7.10       
Eligibility; Disqualification.

 

This Indenture shall always have a Trustee
who satisfies the requirement of Trust Indenture Act §§ 310 (a)(1), 310(a)(2) and 310(a)(5). The Trustee shall have a
combined capital and surplus of at least $150,000,000 as set forth in its most recent published annual report of condition. The
Trustee shall comply with Trust Indenture Act § 310(b); provided, however, that there shall be excluded from the operation
of Trust Indenture Act § 310(b)(1) any indenture or indentures under which other securities, or certificates of interest or
participation in other securities, of the Issuer are outstanding, if the requirements for such exclusion set forth in Trust Indenture
Act § 310(b)(1) are met. The provisions of Trust Indenture Act § 310 shall apply to the Issuer and any other obligor
of the Notes.

 

Section 7.11       
Preferential Collection of Claims Against the Issuer.

 

The Trustee, in its capacity as Trustee hereunder,
shall comply with Trust Indenture Act § 311(a), excluding any creditor relationship listed in Trust Indenture Act § 311(b).
A Trustee who has resigned or been removed shall be subject to Trust Indenture Act § 311(a) to the extent indicated.

 

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ARTICLE
Eight

DISCHARGE OF INDENTURE; DEFEASANCE

 

Section 8.01       
Termination of the Issuer’s Obligations.

 

The Issuer may terminate its obligations under
the Notes and this Indenture and the obligations of the Subsidiary Guarantors under the Subsidiary Guarantees and this Indenture
and this Indenture shall cease to be of further effect, except those obligations referred to in the penultimate paragraph of this
Section 8.01, if:

 

(1)        
either

 

(A)      
all the Notes theretofore authenticated and delivered (except lost, stolen or destroyed Notes which have been replaced or
paid and Notes for whose payment money has theretofore been deposited in trust or segregated and held in trust by the Issuer and
thereafter repaid to the Issuer or discharged from such trust) have been delivered to the Trustee for cancellation; or

 

(B)       
all Notes not theretofore delivered to the Trustee for cancellation (1) have become due and payable or (2) will become due
and payable within one year, or are to be called for redemption within one year, under arrangements reasonably satisfactory to
the Trustee for the giving of notice of redemption by the Trustee in the name, and at the expense, of the Issuer, and the Issuer
has irrevocably deposited or caused to be deposited with the Trustee funds in an amount sufficient to pay and discharge the entire
Indebtedness on the Notes not theretofore delivered to the Trustee for cancellation, for principal of, premium, if any, and interest
on the Notes to the date of maturity or redemption, as the case may be, together with irrevocable instructions from the Issuer
directing the Trustee to apply such funds to the payment thereof at maturity or redemption, as the case may be; provided that with
respect to any redemption that requires the payment of the Applicable Premium (as defined in the form of Note in Exhibit A),
the amount deposited shall be sufficient for purposes of this paragraph to the extent that an amount is deposited with the Trustee
equal to the Applicable Premium calculated as of the date of the notice of redemption, with any deficit as of the date of the redemption
only required to be deposited with the Trustee on or prior to the date of the redemption;

 

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(2)        
the Issuer has paid all sums payable by the Issuer under this Indenture, and

 

(3)        
the Issuer has delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel stating that all conditions
precedent under this Indenture relating to the satisfaction and discharge of this Indenture have been complied with.

 

In the case of clause (B) of this Section
8.01, and subject to the next sentence and notwithstanding the foregoing paragraph, the Issuer’s obligations in Sections
2.05, 2.06, 2.07, 2.08, 4.01, 4.02, 4.03 (as to legal existence of the Issuer only), 7.07, 8.05 and 8.06 shall survive until the
Notes are no longer outstanding pursuant to the last paragraph of Section 2.08. After the Notes are no longer outstanding, the
Issuer’s obligations in Sections 7.07, 8.05 and 8.06 shall survive.

 

After such delivery or irrevocable deposit,
the Trustee upon request shall acknowledge in writing the discharge of the Issuer’s obligations under the Notes and this
Indenture except for those surviving obligations specified above.

 

Section 8.02       
Legal Defeasance and Covenant Defeasance.

 

(a)         
The Issuer may, at its option and at any time, elect to have either paragraph (b) or (c) below applied to all outstanding
Notes upon compliance with the conditions set forth in Section 8.03.

 

(b)         
Upon the Issuer’s exercise under Section 8.02(a) hereof of the option applicable to this Section 8.02(b), the Issuer
and the Subsidiary Guarantors shall, subject to the satisfaction of the conditions set forth in Section 8.03, be deemed to have
been discharged from their obligations with respect to all outstanding Notes on the date the conditions set forth below are satisfied
(hereinafter, “Legal Defeasance”). For this purpose, Legal Defeasance means that the Issuer and the Subsidiary
Guarantors shall be deemed to have paid and discharged the entire Indebtedness represented by the outstanding Notes and Subsidiary
Guarantees, which shall thereafter be deemed to be “outstanding” only for the purposes of Section 8.04 hereof and the
other Sections of this Indenture referred to in (i) and (ii) below, and to have satisfied all its other obligations under such
Notes and this Indenture and the Subsidiary Guarantors shall be deemed to have satisfied all of their obligations under the Subsidiary
Guarantees and this Indenture (and the Trustee, on demand of and at the expense of the Issuer, shall execute proper instruments
acknowledging the same), except for the following provisions which shall survive until otherwise terminated or discharged hereunder:

 

(i)     
the rights of Holders of outstanding Notes to receive, solely from the trust fund described in Section 8.04, and as more
fully set forth in such Section 8.04, payments in respect of the principal of, premium, if any, and interest on such Notes when
such payments are due;

 

(ii)     
the Issuer’s obligations with respect to such Notes under Article Two and Section 4.02 hereof;

 

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(iii)     
the rights, powers, trusts, duties and immunities of the Trustee hereunder and the Issuer’s obligations in connection
therewith; and

 

(iv)     
the provisions of this Article Eight applicable to Legal Defeasance.

 

Subject to compliance with this Article Eight,
the Issuer may exercise its option under this Section 8.02 (b) notwithstanding the prior exercise of its option under Section 8.02(c).

 

(c)         
Upon the Issuer’s exercise under paragraph (a) hereof of the option applicable to this paragraph (c), the Issuer and
the Subsidiary Guarantors shall, subject to the satisfaction of the conditions set forth in Section 8.03, be released from their
respective obligations under the covenants contained in Sections 4.03 (other than with respect to the legal existence of the Issuer),
4.04, 4.07, 4.08, 4.09 and 4.10 and clause (3) of Section 5.01(a) with respect to the outstanding Notes on and after the date the
conditions set forth in Section 8.03 are satisfied (hereinafter, “Covenant Defeasance”), and the Notes shall
thereafter be deemed not “outstanding” for the purposes of any direction, waiver, consent or declaration or act of
Holders (and the consequences of any thereof) in connection with such covenants, but shall continue to be deemed “outstanding”
for all other purposes hereunder (it being understood that such Notes shall not be deemed outstanding for accounting purposes).
For this purpose, Covenant Defeasance means that, with respect to the outstanding Notes, the Issuer and the Subsidiary Guarantors
may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such covenant,
whether directly or indirectly, by reason of any reference elsewhere herein to any such covenant or by reason of any reference
in any such covenant to any other provision herein or in any other document and such omission to comply shall not constitute an
Event of Default under Section 6.01, but, except as specified above, the remainder of this Indenture and such Notes shall be unaffected
thereby. In addition, upon the Issuer’s exercise under paragraph (a) hereof of the option applicable to this paragraph (c),
subject to the satisfaction of the conditions set forth in Section 8.03, clauses (3), (4), and (5) of Section 6.01 shall not constitute
Events of Default.

 

Section 8.03       
Conditions to Legal Defeasance or Covenant Defeasance.

 

The following shall be the conditions to the
application of either Section 8.02(b) or 8.02(c) hereof to the outstanding Notes:

 

(1)        
the Issuer must irrevocably deposit with the Trustee, in trust, for the benefit of the Holders, U.S. Legal Tender, U.S.
Government Obligations or a combination thereof, in such amounts as will be sufficient (without reinvestment), in the opinion of
a nationally recognized firm of independent public accountants selected by the Issuer, to pay the principal of and interest and
premium, if any, on the Notes on the stated date for payment or on the redemption date Notes;

 

(2)        
in the case of Legal Defeasance, the Issuer shall have delivered to the Trustee an Opinion of Counsel in the United States
confirming that:

 

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(a)       the
Issuer has received from, or there has been published by the Internal Revenue Service, a ruling, or

 

(b)       since
the date of this Indenture, there has been a change in the applicable U.S. federal income tax law, in either case to the effect
that, and based thereon the Holders will not recognize income, gain or loss for U.S. federal income tax purposes as a result of
such Legal Defeasance and will be subject to U.S. federal income tax on the same amounts, in the same manner and at the same times
as would have been the case if such Legal Defeasance had not occurred;

 

(3)        
in the case of Covenant Defeasance, the Issuer shall have delivered to the Trustee an Opinion of Counsel in the United States
reasonably acceptable to the Trustee confirming that the Holders will not recognize income, gain or loss for U.S. federal income
tax purposes as a result of such Covenant Defeasance and will be subject to U.S. federal income tax on the same amounts, in the
same manner and at the same times as would have been the case if such Covenant Defeasance had not occurred;

 

(4)        
no Default shall have occurred and be continuing on the date of such deposit (other than a Default resulting from the borrowing
of funds to be applied to such deposit);

 

(5)        
the Legal Defeasance or Covenant Defeasance shall not result in a breach or violation of, or constitute a Default under
this Indenture or a default under any other material agreement or instrument to which the Issuer or any of its Subsidiaries is
a party or by which the Issuer or any of its Subsidiaries is bound (other than any such Default or default resulting solely from
the borrowing of funds to be applied to such deposit);

 

(6)        
the Issuer shall have delivered to the Trustee an Officers’ Certificate stating that the deposit was not made by it
with the intent of preferring the Holders over any other creditors of the Issuer or with the intent of defeating, hindering, delaying
or defrauding any other of its creditors; and

 

(7)        
the Issuer shall have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that
the conditions provided for in, in the case of the Officers’ Certificate, clauses (1) through (6), as applicable, and, in
the case of the Opinion of Counsel, clauses (2), if applicable, and/or (3) and (5) of this Section 8.03 have been complied with.

 

Section 8.04       
Application of Trust Money.

 

The Trustee or Paying Agent shall hold in
trust U.S. Legal Tender and U.S. Government Obligations deposited with it pursuant to this Article Eight, and shall apply the deposited
U.S. Legal Tender and the money from U.S. Government Obligations in accordance with this Indenture to the payment of the principal
of and the interest on the Notes. The Trustee shall be under no obligation to invest said U.S. Legal Tender and U.S. Government
Obligations, except as it may agree with the Issuer.

 

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The Issuer shall pay and indemnify the Trustee
against any tax, fee or other charge imposed on or assessed against the U.S. Legal Tender and U.S. Government Obligations deposited
pursuant to Section 8.03 or the principal and interest received in respect thereof, other than any such tax, fee or other charge
which by law is for the account of the Holders of the outstanding Notes.

 

Anything in this Article Eight to the contrary
notwithstanding, the Trustee shall deliver or pay to the Issuer from time to time upon the Issuer’s request any U.S. Legal
Tender and U.S. Government Obligations held by it as provided in Section 8.03 which, in the opinion of a nationally recognized
firm of independent public accountants expressed in a written certification thereof delivered to the Trustee, are in excess of
the amount thereof that would then be required to be deposited to effect an equivalent Legal Defeasance or Covenant Defeasance.

 

Section 8.05       
Repayment to the Issuer.

 

The Trustee and the Paying Agent shall pay
to the Issuer upon request any money held by them for the payment of principal or interest that remains unclaimed for two years;
provided, however, that the Trustee or such Paying Agent, before being required to make any payment, may at the expense
of the Issuer cause to be published once in a newspaper of general circulation in the City of New York or mail to each Holder entitled
to such money notice that such money remains unclaimed and that after a date specified therein which shall be at least 30 days
from the date of such publication or mailing any unclaimed balance of such money then remaining will be repaid to the Issuer. After
payment to the Issuer, Holders entitled to such money must look to the Issuer for payment as general creditors unless an applicable
law designates another Person.

 

Section 8.06       
Reinstatement.

 

If the Trustee or Paying Agent is unable to
apply any U.S. Legal Tender and U.S. Government Obligations in accordance with this Article Eight by reason of any legal proceeding
or by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such
application, or if the funds deposited with the Trustee to effect Covenant Defeasance are insufficient to pay the principal of,
and interest on, the Notes when due, the Issuer’s obligations under this Indenture, and the Notes and the Subsidiary Guarantees
shall be revived and reinstated as though no deposit had occurred pursuant to this Article Eight until such time as the Trustee
or Paying Agent is permitted to apply all such U.S. Legal Tender and U.S. Government Obligations in accordance with this Article
Eight; provided that if the Issuer has made any payment of interest on, or principal of, any Notes because of the reinstatement
of its obligations, the Issuer shall be subrogated to the rights of the Holders of such Notes to receive such payment from the
U.S. Legal Tender and U.S. Government Obligations held by the Trustee or Paying Agent.

 

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ARTICLE
Nine

AMENDMENTS, SUPPLEMENTS AND WAIVERS

 

Section 9.01       
Without Consent of Holders.

 

(a)         
The Issuer, the Subsidiary Guarantors and the Trustee, together, may amend or supplement this Indenture, the Notes or the
Subsidiary Guarantees without notice to or consent of any Holder:

 

(1)        
to cure any ambiguity, defect or inconsistency in this Indenture, the Notes or the Subsidiary Guarantees;

 

(2)        
to provide for uncertificated Notes in addition to or in place of certificated Notes;

 

(3)        
to provide for the assumption of the Issuer’s or a Subsidiary Guarantor’s obligations to the Holders of the
Notes in the case of a merger, consolidation or sale of all or substantially all of the assets, in accordance with Article Five;

 

(4)        
to add any additional Subsidiary Guarantee by any additional Subsidiary Guarantor (which supplemental indenture need not
be executed by existing Subsidiary Guarantors);

 

(5)        
to release any Subsidiary Guarantor from any of its obligations under its Subsidiary Guarantee or this Indenture (to the
extent permitted by this Indenture);

 

(6)        
to make any change that would not materially adversely affect the rights of any Holder;

 

(7)        
to make any change to conform this Indenture, the Notes or the Subsidiary Guarantees to the “Description of the Notes”
section of the Prospectus Supplement of the Issuer relating to the Notes dated September 17, 2019;

 

(8)        
to comply with requirements of the SEC in order to effect or maintain the qualification of this Indenture under the Trust
Indenture Act; or

 

(9)        
to evidence and provide for the acceptance of an appointment by a successor trustee;

 

provided, however, that the Issuer has delivered to the
Trustee an Opinion of Counsel and an Officers’ Certificate, each stating that such amendment or supplement complies with
the provisions of this Section 9.01.

 

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Section 9.02       
With Consent of Holders.

 

(a)         
Subject to Section 6.07, the Issuer, the Subsidiary Guarantors and the Trustee, together, with the written consent of the
Holder or Holders of a majority in aggregate principal amount of the outstanding Notes may amend or supplement this Indenture,
the Notes or the Subsidiary Guarantees, without notice to any other Holders. Subject to Sections 6.07, the Holder or Holders of
a majority in aggregate principal amount of the outstanding Notes may waive compliance with any provision of this Indenture, the
Notes or the Subsidiary Guarantees without notice to any other Holders.

 

(b)         
Notwithstanding Section 9.02(a), without the consent of each Holder affected, no amendment or waiver may:

 

(1)        
change the Stated Maturity of the principal of, or any installment of interest on, any Note;

 

(2)        
reduce the principal amount of, or premium, if any, or interest on, any Note;

 

(3)        
change the place of payment of principal of, or premium, if any, or interest on, any Note;

 

(4)        
impair the right to institute suit for the enforcement of any payment on or after the Stated Maturity (or, in the case of
a redemption, on or after the Redemption Date) of any Note;

 

(5)        
reduce the above-stated percentages of outstanding Notes the consent of whose Holders is necessary to modify or amend this
Indenture;

 

(6)        
waive a default in the payment of principal of, premium, if any, or interest on the Notes;

 

(7)        
voluntarily release a Subsidiary Guarantor of the Notes, except as permitted by this Indenture;

 

(8)        
reduce the percentage or aggregate principal amount of outstanding Notes the consent of whose Holders is necessary for waiver
of compliance with Sections 6.02 and 6.04; or

 

(9)        
modify or change any provisions of this Indenture affecting the ranking of the Notes or the Subsidiary Guarantees in any
manner adverse to the Holders of the Notes.

 

(c)         
It shall not be necessary for the consent of the Holders under this Section to approve the particular form of any proposed
amendment, supplement or waiver but it shall be sufficient if such consent approves the substance thereof.

 

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(d)         
A consent to any amendment, supplement or waiver under this Indenture by any Holder given in connection with an exchange
(in the case of an exchange offer) or a tender (in the case of a tender offer) of such Holder’s Notes will not be rendered
invalid by such tender or exchange.

 

(e)         
After an amendment, supplement or waiver under this Section 9.02 becomes effective, the Issuer shall mail to the Holders
affected thereby a notice briefly describing the amendment, supplement or waiver. Any failure of the Issuer to mail such notice,
or any defect therein, shall not, however, in any way impair or affect the validity of any such amendment, supplement or waiver.

 

Section 9.03       
Compliance with the Trust Indenture Act.

 

From the date on which this Indenture is qualified
under the Trust Indenture Act, every amendment, waiver or supplement of this Indenture, the Notes or the Subsidiary Guarantees
shall comply with the Trust Indenture Act as then in effect.

 

Section 9.04       
Revocation and Effect of Consents.

 

Until an amendment, waiver or supplement becomes
effective, a consent to it by a Holder is a continuing consent by the Holder and every subsequent Holder of a Note or portion of
a Note that evidences the same debt as the consenting Holder’s Note, even if notation of the consent is not made on any Note.
However, any such Holder or subsequent Holder may revoke the consent as to his Note or portion of his Note by notice to the Trustee
or the Issuer received before the date on which the Trustee receives an Officers’ Certificate certifying that the Holders
of the requisite principal amount of Notes have consented (and not theretofore revoked such consent) to the amendment, supplement
or waiver.

 

The Issuer may, but shall not be obligated
to, fix a record date for the purpose of determining the Holders entitled to consent to any amendment, supplement or waiver, which
record date shall be at least 30 days prior to the first solicitation of such consent. If a record date is fixed, then notwithstanding
the last sentence of the immediately preceding paragraph, those Persons who were Holders at such record date (or their duly designated
proxies), and only those Persons, shall be entitled to revoke any consent previously given, whether or not such Persons continue
to be Holders after such record date. No such consent shall be valid or effective for more than 90 days after such record date.
The Issuer shall inform the Trustee in writing of the fixed record date if applicable.

 

After an amendment, supplement or waiver becomes
effective, it shall bind every Holder, unless it makes a change described in any of clauses (1) through (8) of Section 9.02(b),
in which case, the amendment, supplement or waiver shall bind only each Holder of a Note who has consented to it and every subsequent
Holder of a Note or portion of a Note that evidences the same debt as the consenting Holder’s Note; provided, however,
that any such waiver shall not impair or affect the right of any Holder to receive payment of principal of, and interest on, a
Note, on or after the respective due dates therefor, or to bring suit for the enforcement of any such payment on or after such
respective dates without the consent of such Holder.

 

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Section 9.05       
Notation on or Exchange of Notes.

 

If an amendment, supplement or waiver changes
the terms of a Note, the Issuer may require the Holder of the Note to deliver it to the Trustee. The Issuer shall provide the Trustee
with an appropriate notation on the Note about the changed terms and cause the Trustee to return it to the Holder at the Issuer’s
expense. Alternatively, if the Issuer or the Trustee so determines, the Issuer in exchange for the Note shall issue, and the Trustee
shall authenticate, a new Note that reflects the changed terms. Failure to make the appropriate notation or issue a new Note shall
not affect the validity and effect of such amendment, supplement or waiver.

 

Section 9.06       
Trustee To Sign Amendments, Etc. 

 

The Trustee shall execute any amendment, supplement
or waiver authorized pursuant to this Article Nine; provided, however, that the Trustee may, but shall not be obligated
to, execute any such amendment, supplement or waiver which affects the Trustee’s own rights, duties or immunities under this
Indenture. The Trustee shall be entitled to receive, and shall be fully protected in relying upon, an Opinion of Counsel and an
Officers’ Certificate each stating that the execution of any amendment, supplement or waiver authorized pursuant to this
Article Nine is authorized or permitted by this Indenture and constitutes legal, valid and binding obligations of the Issuer enforceable
in accordance with its terms. Such Opinion of Counsel shall be at the expense of the Issuer.

 

ARTICLE
Ten

SUBSIDIARY GUARANTEE

 

Section 10.01   
Guarantee.

 

Subject to this Article Ten, each of the Subsidiary
Guarantors hereby, jointly and severally, unconditionally guarantees to each Holder of a Note authenticated and delivered by the
Trustee and to the Trustee and its successors and assigns, irrespective of the validity and enforceability of this Indenture, the
Notes or the obligations of the Issuer hereunder or thereunder, that: (a) the principal of and interest on the Notes will be promptly
paid in full when due, whether at maturity, by acceleration, redemption or otherwise, and interest on the overdue principal of
and interest on the Notes, if any, if lawful, and all other obligations of the Issuer to the Holders or the Trustee hereunder or
thereunder will be promptly paid in full or performed, all in accordance with the terms hereof and thereof; and (b) in case of
any extension of time of payment or renewal of any Notes or any of such other obligations, that same will be promptly paid in full
when due or performed in accordance with the terms of the extension or renewal, whether at stated maturity, by acceleration or
otherwise. Failing payment when due of any amount so guaranteed or any performance so guaranteed for whatever reason, the Subsidiary
Guarantors shall be jointly and severally obligated to pay the same immediately. Each Subsidiary Guarantor agrees that this is
a guarantee of payment and not a guarantee of collection.

 

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The Subsidiary Guarantors hereby agree that
their obligations hereunder shall be unconditional, irrespective of the validity, regularity or enforceability of the Notes or
this Indenture, the absence of any action to enforce the same, any waiver or consent by any Holder of the Notes with respect to
any provisions hereof or thereof, the recovery of any judgment against the Issuer, any action to enforce the same or any other
circumstance which might otherwise constitute a legal or equitable discharge or defense of a guarantor. Each Subsidiary Guarantor
hereby waives, to the extent permitted by applicable law, diligence, presentment, demand of payment, filing of claims with a court
in the event of insolvency or bankruptcy of the Issuer, any right to require a proceeding first against the Issuer, protest, notice
and all demands whatsoever and covenant that this Note Guarantee shall not be discharged except by complete performance of the
obligations contained in the Notes and this Indenture.

 

If any Holder or the Trustee is required by
any court or otherwise to return to the Issuer, the Subsidiary Guarantors or any custodian, trustee, liquidator or other similar
official acting in relation to either the Issuer or the Subsidiary Guarantors, any amount paid by either to the Trustee or such
Holder, this Subsidiary Guarantee, to the extent theretofore discharged, shall be reinstated in full force and effect.

 

Each Subsidiary Guarantor agrees that it shall
not be entitled to any right of subrogation in relation to the Holders in respect of any obligations guaranteed hereby until payment
in full of all obligations guaranteed hereby. Each Subsidiary Guarantor further agrees that, as between the Subsidiary Guarantors,
on the one hand, and the Holders and the Trustee, on the other hand, (x) the maturity of the obligations guaranteed hereby may
be accelerated as provided in Article Six hereof for the purposes of this Subsidiary Guarantee, notwithstanding any stay, injunction
or other prohibition preventing such acceleration in respect of the obligations guaranteed hereby, and (y) in the event of any
declaration of acceleration of such obligations as provided in Article Six hereof, such obligations (whether or not due and payable)
shall forthwith become due and payable by the Subsidiary Guarantors for the purpose of this Subsidiary Guarantee.

 

Section 10.02   
Limitation on Subsidiary Guarantor Liability.

 

Each Subsidiary Guarantor, and by its acceptance
of Notes, each Holder, hereby confirms that it is the intention of all such parties that the Subsidiary Guarantee of such Subsidiary
Guarantor not constitute a fraudulent transfer or conveyance for purposes of Bankruptcy Law, the Uniform Fraudulent Conveyance
Act, the Uniform Fraudulent Transfer Act or any similar federal or state law to the extent applicable to any Subsidiary Guarantee.
To effectuate the foregoing intention, the Trustee, the Holders and the Subsidiary Guarantors hereby irrevocably agree that the
obligations of such Subsidiary Guarantor will, after giving effect to such maximum amount and all other contingent and fixed liabilities
of such Subsidiary Guarantor that are relevant under such laws, and after giving effect to any collections from, rights to receive
contribution from or payments made by or on behalf of any other Subsidiary Guarantor in respect of the obligations of such other
Subsidiary Guarantor under this Article Ten, result in the obligations of such Subsidiary Guarantor under its Subsidiary Guarantee
not constituting a fraudulent transfer or conveyance. Each Subsidiary Guarantor that makes a payment for distribution under its
Subsidiary Guarantee is entitled to a contribution from each other Subsidiary Guarantor in a pro rata amount based on the
adjusted net assets of each Subsidiary Guarantor.

 

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Section 10.03   
Execution and Delivery of Subsidiary Guarantee.

 

To evidence its Subsidiary Guarantee set forth
in Section 10.01, each Subsidiary Guarantor hereby agrees that a notation of such Subsidiary Guarantee substantially in the form
included in Exhibit C shall be endorsed by an Officer of such Subsidiary Guarantor on each Note authenticated and delivered
by the Trustee and that this Indenture shall be executed on behalf of such Subsidiary Guarantor by an Officer.

 

Each Subsidiary Guarantor hereby agrees that
its Subsidiary Guarantee set forth in Section 10.01 shall remain in full force and effect notwithstanding any failure to endorse
on each Note a notation of such Subsidiary Guarantee.

 

If an Officer whose signature is on this Indenture
or on the Subsidiary Guarantee no longer holds that office at the time the Trustee authenticates the Note on which a Subsidiary
Guarantee is endorsed, the Subsidiary Guarantee shall be valid nevertheless.

 

The delivery of any Note by the Trustee, after
the authentication thereof hereunder, shall constitute due delivery of the Subsidiary Guarantee set forth in this Indenture on
behalf of the Subsidiary Guarantors.

 

Section 10.04   
Release of a Subsidiary Guarantor.

 

A Subsidiary Guarantor shall be automatically
and unconditionally released from its obligations under its Note Guarantee and its obligations under this Indenture:

 

(1)        
upon any sale, exchange or transfer to a Person not an Affiliate of the Issuer of all of the Capital Stock held by the Issuer
and its Subsidiaries in, or all or substantially all of the assets of, such Subsidiary Guarantor;

 

(2)        
upon the liquidation or dissolution of such Subsidiary Guarantor; provided that no Default or Event of Default shall occur
as a result thereof;

 

(3)        
if the Issuer exercises its Legal Defeasance option under Section 8.02(b) or its Covenant Defeasance option under Section
8.02(c), or if the Issuer’s obligations under this Indenture are discharged in accordance with Section 8.01; or

 

(4)        
if a Subsidiary Guarantor ceases to guarantee the obligations of the Issuer under any such Indebtedness of the Issuer that
would constitute Indebtedness under clauses (1) or (2) under the definition thereof in an amount at least equal to $50 million;

 

provided, however, that in the case of clauses (1) and
(2) above, (x) such sale or other disposition is made to a Person other than the Issuer or any of its Subsidiaries and (y) such
sale or disposition is otherwise permitted by this Indenture. Upon any such occurrence specified in this Section 10.04, at the
Issuer’s request, and upon delivery to the Trustee of an Officers’ Certificate and an Opinion of Counsel, each stating
that all conditions precedent under the Indenture relating to such release have been complied with, the Trustee shall execute any
documents reasonably requested by the Issuer evidencing such release. A Person that has been released pursuant to this Section
10.04 shall cease to be a Subsidiary Guarantor for all purposes under this Indenture from and after the date of such release unless
and until such Person again becomes a Subsidiary Guarantor pursuant to Section 4.09.

 

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Nothing contained in this Indenture or in
any of the Notes shall prevent any consolidation or merger of a Subsidiary Guarantor with or into the Issuer (in which case such
Subsidiary Guarantor shall no longer be a Subsidiary Guarantor) or another Subsidiary Guarantor or shall prevent any sale or conveyance
of the property of a Subsidiary Guarantor as an entirety or substantially as an entirety to the Issuer or another Subsidiary Guarantor.

 

ARTICLE
Eleven

MISCELLANEOUS

 

Section 11.01   
Trust Indenture Act Controls.

 

If any provision of this Indenture limits,
qualifies, or conflicts with another provision which is required or deemed to be included in this Indenture by the Trust Indenture
Act, such required or deemed provision shall control.

 

Section 11.02   
Notices.

 

Any notices or other communications required
or permitted hereunder shall be in writing, and shall be sufficiently given if made by hand delivery, by telex, by nationally recognized
overnight courier service, by telecopier or registered or certified mail, postage prepaid, return receipt requested, addressed
as follows:

 

if to the Issuer or a Subsidiary Guarantor:

 

c/o Omega Healthcare Investors, Inc.

303 International Circle, Suite 200

Hunt Valley, Maryland 21030

Attention: Robert O. Stephenson

Telephone:(410) 427-1700

Facsimile:(410) 427-8800

 

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with a copy to:

 

Bryan Cave Leighton Paisner LLP

One Atlantic Center

Fourteenth Floor

1201 W. Peachtree Street, NW

Atlanta, Georgia 30309-3471

Attention: Eliot Robinson

Telephone:(404) 572-6600

Facsimile:(404) 572-6999

 

if to the Trustee:

 

U.S. Bank National Association

Two Midtown Plaza

1349 W. Peachtree Street, NW., Suite 1050

EX-GA-ATPT

Atlanta, Georgia 30309

Attention: Corporate Trust Department

Telephone:(404) 965-7218

Facsimile:(404) 365-7946

 

Each of the Issuer and the Trustee by written
notice to each other such Person may designate additional or different addresses for notices to such Person. Any notice or communication
to the Issuer and the Trustee, shall be deemed to have been given or made as of the date so delivered if personally delivered;
when replied to; when receipt is acknowledged, if telecopied; five (5) calendar days after mailing if sent by registered or certified
mail, postage prepaid (except that a notice of change of address shall not be deemed to have been given until actually received
by the addressee); and next Business Day if by nationally recognized overnight courier service.

 

Any notice or communication mailed to a Holder
shall be mailed to him by first class mail or other equivalent means at his address as it appears on the registration books of
the Registrar and shall be sufficiently given to him if so mailed within the time prescribed.

 

Failure to mail a notice or communication
to a Holder or any defect in it shall not affect its sufficiency with respect to other Holders. If a notice or communication is
mailed in the manner provided above, it is duly given, whether or not the addressee receives it.

 

Section 11.03   
Communications by Holders with Other Holders.

 

Holders may communicate pursuant to Trust
Indenture Act § 312(b) with other Holders with respect to their rights under this Indenture, the Notes or the Subsidiary Guarantees.
The Issuer, the Trustee, the Registrar and any other Person shall have the protection of Trust Indenture Act § 312(c).

 

    53

     

    

 

Section 11.04   
Certificate and Opinion as to Conditions Precedent.

 

Upon any request or application by the Issuer
to the Trustee to take any action under this Indenture, the Issuer shall furnish to the Trustee at the request of the Trustee:

 

(1)        
an Officers’ Certificate, in form and substance satisfactory to the Trustee, stating that, in the opinion of the signers,
all conditions precedent to be performed or effected by the Issuer, if any, provided for in this Indenture relating to the proposed
action have been complied with; and

 

(2)        
an Opinion of Counsel stating that, in the opinion of such counsel, all such conditions precedent have been complied with.

 

Section 11.05   
Statements Required in Certificate or Opinion.

 

Each certificate or opinion with respect to
compliance with a condition or covenant provided for in this Indenture, other than the Officers’ Certificate required by
Section 4.05, shall include:

 

(1)        
a statement that the Person making such certificate or opinion has read such covenant or condition;

 

(2)        
a brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions contained
in such certificate or opinion are based;

 

(3)        
a statement that, in the opinion of such Person, he has made such examination or investigation as is necessary to enable
him to express an informed opinion as to whether or not such covenant or condition has been complied with or satisfied; and

 

(4)        
a statement as to whether or not, in the opinion of each such Person, such condition or covenant has been complied with;
provided, however, that with respect to matters of fact, an Opinion of Counsel may rely on an Officers’ Certificate
or certificates of public officials.

 

Section 11.06   
Rules by Paying Agent or Registrar.

 

The Paying Agent or Registrar may make reasonable
rules and set reasonable requirements for their functions.

 

Section 11.07   
Legal Holidays.

 

If a payment date is not a Business Day, payment
may be made on the next succeeding day that is a Business Day.

 

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Section 11.08   
Governing Law.

 

This Indenture, the Notes and the Subsidiary
Guarantees will be governed by and construed in accordance with the laws of the State of New York.

 

Section 11.09   
No Adverse Interpretation of Other Agreements.

 

This Indenture may not be used to interpret
another indenture, loan or debt agreement of any of the Issuer or any of its Subsidiaries. Any such indenture, loan or debt agreement
may not be used to interpret this Indenture.

 

Section 11.10   
No Recourse Against Others.

 

No director, officer, employee, incorporator,
stockholder, member or manager or controlling person of the Issuer or any Subsidiary Guarantor shall have any liability for any
obligations of the Issuer under the Notes or this Indenture or of any Subsidiary Guarantor under its Subsidiary Guarantee or the
Indenture or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder of Notes by
accepting a Note waives and releases all such liability. Such waiver and release are part of the consideration for issuance of
the Notes.

 

Section 11.11   
Successors.

 

All agreements of the Issuer and the Subsidiary
Guarantors in this Indenture, the Notes and the Note Guarantees shall bind their respective successors. All agreements of the Trustee
in this Indenture shall bind its successor.

 

Section 11.12   
Duplicate Originals.

 

All parties may sign any number of copies
of this Indenture. Each signed copy or counterpart shall be an original, but all of them together shall represent the same agreement.

 

Section 11.13   
Severability.

 

To the extent permitted by applicable law,
in case any one or more of the provisions in this Indenture, in the Notes or in the Subsidiary Guarantees shall be held invalid,
illegal or unenforceable, in any respect for any reason, the validity, legality and enforceability of any such provision in every
other respect and of the remaining provisions shall not in any way be affected or impaired thereby, it being intended that all
of the provisions hereof shall be enforceable to the full extent permitted by law.

 

    55

     

    

 

IN WITNESS WHEREOF, the parties hereto have
caused this Indenture to be duly executed all as of the date written above.

 

	 	OMEGA HEALTHCARE INVESTORS, INC., as Issuer
	 	 
	 	By:   	/s/ Robert O. Stephenson
	 	 	Name:   	Robert O. Stephenson
	 	 	Title:	Chief Financial Officer, Treasurer and Secretary

 

[Signature Page to Indenture]

 

     

     

    

 

	 	OHI HEALTHCARE PROPERTIES LIMITED PARTNERSHIP, as a Subsidiary Guarantor
	 	 
	 	By:   	/s/ Robert O. Stephenson
	 	 	Name:   	Robert O. Stephenson
	 	 	Title:	Chief Financial Officer, Treasurer and Secretary

 

[Signature Page to Indenture]

 

     

     

    

 

	 	U.S. BANK NATIONAL ASSOCIATION, as Trustee
	 	 
	 	By:   	/s/ David Ferrel
	 	 	Name:   	David Ferrell
	 	 	Title:	Vice President

 

[Signature Page to Indenture]

 

     

     

    

 

EXHIBIT A

 

[Insert the Global Note Legend, if applicable pursuant
to the provisions of the Indenture]

 

OMEGA HEALTHCARE INVESTORS, INC.

3.625% Senior Notes due 2029

 

	 	CUSIP No.
	No. [   ]	$

 

OMEGA HEALTHCARE INVESTORS, INC., a Maryland
corporation (the “Issuer”), for value received promises to pay to Cede & Co., or its registered assigns,
the principal sum of [       ] DOLLARS [or such other amount as is provided in a schedule attached hereto]a on October
1, 2029.

 

Interest Payment Dates: April 1 and October
1, commencing April 1, 2020. Record Dates: March 15 and September 15.

 

Reference is made to the further provisions
of this Note contained herein, which will for all purposes have the same effect as if set forth at this place.

 

 

a This language should be included only if the Note
is issued in global form. b This schedule should be included only if the Note is issued in global form.

 

    A-1

     

    

 

IN WITNESS WHEREOF, the Issuer has caused
this Note to be signed manually or by facsimile by its duly authorized officer.

 

Dated:

 

	 	OMEGA HEALTHCARE INVESTORS, INC., as Issuer
	 	 
	 	By:   	 
	 	 	Name:   	 
	 	 	Title:	 

 

    A-2

     

    

 

[FORM OF] TRUSTEE’S CERTIFICATE OF
AUTHENTICATION

 

This is one of the 3.625% Senior Notes due
2029 described in the within-mentioned Indenture.

 

Dated:

 

	 	U.S. BANK NATIONAL ASSOCIATION, as Trustee
	 	 
	 	By:   	                     
	 	Authorized Signatory

 

    A-3

     

    

 

(Reverse of Note)

 

3.625% Senior Notes due 2029

 

Capitalized terms used herein shall have the
meanings assigned to them in the Indenture referred to below unless otherwise indicated.

 

SECTION 1.Interest. Omega Healthcare
Investors, Inc., a Maryland corporation (the “Issuer”), promises to pay interest on the principal amount of
this Note at 3.625% per annum from September 20, 2019 until maturity. The Issuer will pay interest semi-annually on April
1 and October 1 of each year, or if any such day is not a Business Day, on the next succeeding Business Day (each an “Interest
Payment Date”), commencing April 1, 2020. Interest on the Notes will accrue from the most recent date to which interest
has been paid or, if no interest has been paid, from September 20, 2019. The Issuer shall pay interest (including post-petition
interest in any proceeding under any Bankruptcy Law) on overdue principal and premium, if any, from time to time on demand to the
extent lawful at the interest rate applicable to the Notes; it shall pay interest (including post-petition interest in any proceeding
under any Bankruptcy Law) on overdue installments of interest (without regard to any applicable grace periods) from time to time
on demand at the same rate to the extent lawful. Interest will be computed on the basis of a 360-day year of twelve 30-day months.

 

SECTION 2.Method of Payment. The
Issuer will pay interest on the Notes to the Persons who are registered Holders of Notes at the close of business on March 15 or
September 15 next preceding the Interest Payment Date, even if such Notes are canceled after such record date and on or before
such Interest Payment Date, except as provided in Section 2.12 of the Indenture with respect to defaulted interest. The Notes will
be issued in denominations of $2,000 and integral multiples of $1,000 in excess thereof. The Issuer shall pay principal, premium,
if any, and interest on the Notes in such coin or currency of the United States of America as at the time of payment is legal tender
for payment of public and private debts (“U.S. Legal Tender”). Principal of, premium, if any, and interest on
the Notes will be payable at the office or agency of the Issuer maintained for such purpose except that, at the option of the Issuer,
the payment of interest may be made by check mailed to the Holders of the Notes at their respective addresses set forth in the
register of Holders of Notes. Until otherwise designated by the Issuer, the Issuer’s office or agency in New York will be
the office of the Trustee maintained for such purpose.

 

SECTION 3.Paying Agent and Registrar.
Initially, U.S. Bank National Association, the Trustee under the Indenture, will act as Paying Agent and Registrar. The Issuer
may change any Paying Agent or Registrar without notice to any Holder. Except as provided in the Indenture, the Issuer or any of
their Subsidiaries may act in any such capacity.

 

SECTION 4.Indenture. The Issuer
issued the Notes under an Indenture dated as of September 20, 2019 (“Indenture”) by and among the Issuer, the
Subsidiary Guarantors and the Trustee. The terms of the Notes include those stated in the Indenture and those made part of the
Indenture by reference to the Trust Indenture Act of 1939, as amended (15 U.S. Code §§ 77aaa-77bbbb) (the “Trust
Indenture Act”). The Notes are subject to all such terms, and Holders are referred to the Indenture and the Trust Indenture
Act for a statement of such terms.

 

SECTION 5.Optional Redemption.
The Notes will be redeemable at the option of the Issuer, in whole or in part, at any time, and from time to time, upon not less
than 15 days’ nor more than 60 days’ notice. If the Notes are redeemed prior to the Par Call Date, the Redemption Price
will be equal to the greater of:

 

    A-4

     

    

 

(a)       100%
of the principal amount of the Notes to be redeemed, and

 

(b)       the
sum of the present values of the remaining scheduled payments of principal and interest on the Notes to be redeemed (exclusive
of interest accrued to the applicable Redemption Date) assuming that such Notes matured, and that interest on such Notes was payable,
on the Par Call Date, discounted to such Redemption Date on a semiannual basis, assuming a 360-day year consisting of twelve 30-day
months, at the Treasury Rate plus 30 basis points (the “Applicable Premium”),

 

plus, in each case of clauses (a) and (b) above, accrued and
unpaid interest thereon to, but not including, the applicable Redemption Date; provided, however, that if the Redemption
Date falls after the Record Date and on or prior to the corresponding Interest Payment Date, the Issuer will pay the full amount
of accrued and unpaid interest, if any, on such Interest Payment Date to the Holder of Notes at the close of business on the corresponding
Record Date (instead of the holder surrendering its Notes for redemption).

 

If the Notes are redeemed on or after the
Par Call Date, the Redemption Price will be equal to 100% of the principal amount of the Notes being redeemed, plus accrued and
unpaid interest thereon to, but not including, such Redemption Date.

 

“Treasury Rate” means (1)
the yield, under the heading which represents the average for the immediately preceding week, appearing in the most recently published
statistical release designated “H.15(519)” or any successor publication which is published weekly by the Board of Governors
of the Federal Reserve System and which establishes yields on actively traded United States Treasury securities adjusted to constant
maturity under the caption “Treasury Constant Maturities,” for the maturity corresponding to the Comparable Treasury
Issue (if no maturity is within three months before or after the remaining life of the Notes, yields for the two published maturities
most closely corresponding to the Comparable Treasury Issue will be determined and the Treasury Rate will be interpolated or extrapolated
from such yields on a straight line basis, rounding to the nearest month), or (2) if such release (or any successor release) is
not published during the week preceding the calculation date or does not contain such yields, the rate per annum equal to
the semi-annual equivalent yield to maturity of the Comparable Treasury Issue, calculated using a price for the Comparable Treasury
Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for the applicable Redemption
Date. The Treasury Rate shall be calculated on the third Business Day preceding the applicable Redemption Date.

 

“Comparable Treasury Issue”
means, with respect to any Redemption Date for the Notes, the United States Treasury security selected by the Independent Investment
Banker as having an actual or interpolated maturity comparable to the remaining term of the Notes to be redeemed (assuming for
this purpose that such Notes matured on the Par Call Date) that would be utilized, at the time of selection and in accordance with
customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of
the Notes to be redeemed.

 

“Comparable Treasury Price”
means, with respect to any Redemption Date for the Notes:

 

    A-5

     

    

 

(i)       the
average of five Reference Treasury Dealer Quotations for such Redemption Date, after excluding the highest and lowest such Reference
Treasury Dealer Quotations, or

 

(ii)       if
the Issuer obtains fewer than five but more than one such Reference Treasury Dealer Quotations for such Redemption Date, the average
of all such quotations, or

 

(iii)       if
the Issuer obtains only one such Reference Treasury Dealer Quotation for such Redemption Date, that Reference Treasury Dealer Quotation.

 

“Independent Investment Banker”
means, with respect to any Redemption Date for the Notes, an independent investment banking institution of national standing appointed
by the Issuer with respect to such Redemption Date.

 

“Par Call Date” means July
1, 2029.

 

“Reference Treasury Dealer”
means (1) Wells Fargo Securities, LLC, BofA Securities, Inc., J.P. Morgan Securities LLC and a Primary Treasury Dealer selected
by Credit Agricole Securities (USA) Inc. and (2) any one other Primary Treasury Dealer selected by the Issuer; provided, however,
that if any Reference Treasury Dealers referred to in clause (1) above ceases to be a primary U.S. Government securities dealer
(a “Primary Treasury Dealer”), the Issuer will substitute therefor another Primary Treasury Dealer.

 

“Reference Treasury Dealer Quotations”
means, with respect to each Reference Treasury Dealer and any Redemption Date for the Notes, the average, as determined by the
Issuer, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal
amount) quoted in writing to the Trustee by such Reference Treasury Dealer at 3:30 p.m., New York City time, on the third Business
Day preceding the applicable redemption date.

 

SECTION 6.[Reserved].

 

SECTION 7.Notice of Redemption.
Notice of redemption will be mailed by first class mail at least 15 days but not more than 60 days before the redemption date to
each Holder of Notes to be redeemed at its registered address. Notes in denominations larger than $2,000 may be redeemed in part.
If any Note is to be redeemed in part only, the notice of redemption that relates to such Note shall state the portion of the principal
amount thereof to be redeemed. A new Note in principal amount equal to the unredeemed portion thereof will be issued in the name
of the Holder thereof upon cancellation of the original Note. On and after the Redemption Date interest ceases to accrue on Notes
or portions thereof called for redemption.

 

SECTION 8.Mandatory Redemption.
The Issuer shall not be required to make mandatory redemption payments with respect to the Notes.

 

SECTION 9.Additional Notes. The
Issuer may, from time to time, without the consent of the Holders of the Notes, create and issue additional notes (the “Additional
Notes”) ranking pari passu with the Initial Notes in all respects (or in all respects except for the public offering
price of the Additional Notes, the issue date thereof, the payment of interest accruing on the Additional Notes prior to the issue
date thereof or except for the first payment of interest on the Additional Notes following the issue date thereof). The Additional
Notes shall be treated as a single class with the Initial Notes and have the same terms as to status, redemption or otherwise as
the Initial Notes, provided that if such Additional Notes are not fungible with the Initial Notes for U.S. federal income tax purposes,
such Additional Notes will have a separate CUSIP or ISIN number.

 

    A-6

     

    

 

SECTION 10.Denominations, Transfer,
Exchange. The Notes are in registered form without coupons in denominations of $2,000 and integral multiples of $1,000 in excess
thereof. The transfer of Notes may be registered and Notes may be exchanged as provided in the Indenture. The Registrar and the
Trustee may require a Holder, among other things, to furnish appropriate endorsements and transfer documents and the Issuer may
require a Holder to pay any taxes and fees required by law or permitted by the Indenture. The Issuer and the Registrar are not
required to transfer or exchange any Note selected for redemption. Also, the Issuer and the Registrar are not required to transfer
or exchange any Notes for a period of 15 days before a selection of Notes to be redeemed.

 

SECTION 11.Persons Deemed Owners.
The registered Holder of a Note may be treated as its owner for all purposes.

 

SECTION 12.Amendment, Supplement and
Waiver. Subject to certain exceptions set forth in the Indenture, the Indenture, the Notes and the Subsidiary Guarantees may
be amended or supplemented with the written consent of the Holders of at least a majority in aggregate principal amount of the
Notes then outstanding, and any existing Default or compliance with any provision may be waived with the consent of the Holders
of a majority in aggregate principal amount of the Notes then outstanding. Without notice to or consent of any Holder, the parties
thereto may also amend or supplement the Indenture, the Notes and the Subsidiary Guarantees under the limited circumstances provided
in the Indenture.

 

SECTION 13.Defaults and Remedies.
If a Default occurs and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then outstanding Notes
generally may declare all the Notes to be due and payable immediately. Notwithstanding the foregoing, in the case of a Default
arising from certain events of bankruptcy or insolvency as set forth in the Indenture, with respect to the Issuer, all outstanding
Notes will become due and payable without further action or notice. Holders of the Notes may not enforce the Indenture or the Notes
except as provided in the Indenture. Subject to certain limitations, Holders of a majority in principal amount of the then outstanding
Notes may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Notes notice of
any continuing Default if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal
amount of the Notes then outstanding by notice to the Trustee may on behalf of the Holders of all of the Notes waive any existing
Default and its consequences under the Indenture except a continuing Default in the payment of interest on, or the principal of,
or the premium on, the Notes.

 

SECTION 14.Restrictive Covenants.
The Indenture contains certain covenants that, among other things, limit the ability of the Issuer and its Subsidiaries to incur
indebtedness or to consolidate, merge or sell all or substantially all of its assets, and require the Issuer and its Subsidiaries,
on a consolidated basis, to maintain a minimum ratio of Total Unencumbered Assets to Unsecured Indebtedness. The limitations are
subject to a number of important qualifications and exceptions. The Issuer must annually report to the Trustee on compliance with
such limitations and other provisions in the Indenture.

 

    A-7

     

    

 

SECTION 15.No Recourse Against Others.
No director, officer, employee, incorporator, stockholder, member or manager or controlling person of the Issuer or any Subsidiary
Guarantor shall have any liability for any obligations of the Issuer under the Notes or the Indenture, or of any Subsidiary Guarantor
under its Subsidiary Guarantee or the Indenture or for any claim based on, in respect of, or by reason of, such obligations or
their creation. Each Holder of Notes by accepting a Note waives and releases all such liability. The waiver and release are part
of the consideration for issuance of the Notes.

 

SECTION 16.Subsidiary Guarantees.
This Note will be entitled to the benefits of certain Subsidiary Guarantees made for the benefit of the Holders. Reference is hereby
made to the Indenture for a statement of the respective rights, limitations of rights, duties and obligations thereunder of the
Subsidiary Guarantors, the Trustee and the Holders.

 

SECTION 17.Trustee Dealings with the
Issuer. Subject to certain terms, the Trustee under the Indenture, in its individual or any other capacity, may become the
owner or pledgee of Notes and may otherwise deal with the Issuer, their Subsidiaries or their respective Affiliates as if it were
not the Trustee.

 

SECTION 18.Authentication. This
Note shall not be valid until authenticated by the manual signature of the Trustee or an authenticating agent.

 

SECTION 19.Abbreviations. Customary
abbreviations may be used in the name of a Holder or an assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by
the entirety), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian), and U/G/M/A
(= Uniform Gifts to Minors Act).

 

SECTION 20.CUSIP and ISIN Numbers.
Pursuant to a recommendation promulgated by the Committee on Uniform Security Identification Procedures, the Issuer has caused
CUSIP and ISIN numbers to be printed on the Notes and the Trustee may use CUSIP or ISIN numbers in notices of redemption as a convenience
to Holders. No representation is made as to the accuracy of such numbers either as printed on the Notes or as contained in any
notice of redemption and reliance may be placed only on the other identification numbers placed thereon.

 

SECTION 21.Governing Law. This
Note shall be governed by, and construed in accordance with, the laws of the State of New York.

 

The Issuer will furnish to any Holder upon
written request and without charge a copy of the Indenture.

 

    A-8

     

    

 

ASSIGNMENT FORM

 

I or we assign and transfer this Note to

 

	 
	 
	 

(Print or type name, address and zip code of assignee or transferee)

 

	 

(Insert Social Security or other identifying number of assignee or transferee)

 

and irrevocably appoint_________________ agent to transfer this
Note on the books of the Issuer. The agent may substitute another to act for him.

 

	Dated:  ___________	Signed:	 
	 	 	(Sign exactly as name appears on the other side of this Note)

 

	Signature Guarantee:	 
	 	Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor program reasonably acceptable to the Trustee)

 

    A-9

     

    

 

SCHEDULE OF PRINCIPAL AMOUNTb

 

The initial principal amount at maturity of
this Global Note shall be $      . The following decreases/increases in the principal amount at maturity of this Global Note have
been made:

 

	Date of
 Decrease/Increase
	 	Amount of decrease
 in Principal Amount
 of this Global Note	 	Amount
    of increase 
 in Principal Amount 
 of this Global Note	 	Principal Amount of
 this Global Note
 following such
 decrease (or increase)	 	Signature of
 authorized officer of
 Trustee or Note
 Custodian
	 	 	 	 	 	 	 	 	 

 

 

b       This schedule
should be included only if the Note is issued in global form.

 

    A-10

     

    

 

EXHIBIT B

 

FORM OF LEGENDS

 

Each Global Note authenticated and delivered
hereunder shall bear the following legend:

 

THIS NOTE IS A GLOBAL NOTE WITHIN THE MEANING
OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITORY OR A NOMINEE OF A DEPOSITORY OR A SUCCESSOR
DEPOSITORY IN CUSTODY FOR THE BENEFICIAL OWNERS HEREOF.

 

THIS NOTE IS NOT TRANSFERABLE TO ANY PERSON
UNDER ANY CIRCUMSTANCES EXCEPT THAT (A) THE TRUSTEE OR THE REGISTRAR MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT
TO SECTION 2.02 OF THE INDENTURE, (B) THIS GLOBAL NOTE MAY BE EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO SECTION 2.15(b) OF
THE INDENTURE, (C) EXCEPT AS OTHERWISE PROVIDED IN SECTION 2.15(b) OF THE INDENTURE, THIS GLOBAL NOTE MAY BE TRANSFERRED IN WHOLE,
BUT NOT IN PART, ONLY (X) BY THE DEPOSITORY TO A NOMINEE OF THE DEPOSITORY, (Y) BY A NOMINEE OF THE DEPOSITORY TO THE DEPOSITORY
OR ANOTHER NOMINEE OF THE DEPOSITORY OR (Z) BY THE DEPOSITORY OR ANY NOMINEE TO A SUCCESSOR DEPOSITORY OR TO A NOMINEE OF SUCH
SUCCESSOR DEPOSITORY, AND (D) THIS GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 2.11 OF THE
INDENTURE.

 

UNLESS THIS CERTIFICATE IS PRESENTED BY AN
AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE ISSUER OR ITS AGENT
FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN
SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER
ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE
BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

 

    B-1

     

    

 

EXHIBIT C

 

SUBSIDIARY GUARANTEE

 

For value received, each of the undersigned
(including any successor Person under the Indenture) hereby unconditionally guarantees, jointly and severally, to the extent set
forth in the Indenture (as defined below) to the Holder of this Note the payment of principal, premium, if any, and interest on
this Note in the amounts and at the times when due and interest on the overdue principal, premium, if any, and interest, if any,
of this Note when due, if lawful, and, to the extent permitted by law, the payment or performance of all other obligations of the
Issuer under the Indenture or the Notes, to the Holder of this Note and the Trustee, all in accordance with and subject to the
terms and limitations of this Note, the Indenture, including Article Ten thereof, and this Subsidiary Guarantee. This Subsidiary
Guarantee will become effective in accordance with Article Ten of the Indenture and its terms shall be evidenced therein. The validity
and enforceability of any Subsidiary Guarantee shall not be affected by the fact that it is not affixed to any particular Note.

 

Capitalized terms used but not defined herein
shall have the meanings ascribed to them in the Indenture dated as of September 20, 2019, among Omega Healthcare Investors, Inc.,
a Maryland corporation (the “Issuer”), the Subsidiary Guarantors named therein and U.S. Bank National Association,
as trustee (the “Trustee”), as amended or supplemented (the “Indenture”).

 

The obligations of the undersigned to the
Holders of Notes and to the Trustee pursuant to this Subsidiary Guarantee and the Indenture are expressly set forth in Article
Ten of the Indenture and reference is hereby made to the Indenture for the precise terms of the Subsidiary Guarantee and all of
the other provisions of the Indenture to which this Subsidiary Guarantee relates.

 

No director, officer, employee, incorporator,
stockholder, member or manager or controlling person of any Subsidiary Guarantor, as such, shall have any liability for any obligations
of such Subsidiary Guarantor under such Subsidiary Guarantor’s Subsidiary Guarantee or the Indenture or for any claim based
on, in respect of, or by reason of, such obligation or its creation.

 

This Subsidiary Guarantee shall be governed
by, and construed in accordance with, the laws of the State of New York.

 

This Subsidiary Guarantee is subject to release
upon the terms set forth in the Indenture.

 

 

    C-1

     

    

 

IN WITNESS WHEREOF, each Subsidiary Guarantor
has caused its Subsidiary Guarantee to be duly executed.

 

Date:

 

	 	[             ]
	 	 
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

    C-2finalamendment5withannex

                                                               Execution Version                                                                                                 AMENDMENT NO. 5, dated as of September 20, 2019  (this “Amendment”), among   JELD-WEN Holding, Inc., a Delaware corporation (“Holdings”), JELD-WEN, Inc., a Delaware   corporation (the “Borrower”), the Company Subsidiary Guarantors (this and each other capitalized term   used herein without definition having the meaning assigned to such term in Section 1.1 of the Credit   Agreement described below), Bank of America, N.A., as administrative agent for the Lenders and   collateral agent for the Secured Parties (in such capacities, the “Administrative Agent”) and each person   set forth on Schedule 2.01 hereto (each, an “Additional Term B-4 Lender”) party hereto.                WHEREAS, reference is hereby made to the Term Loan Credit Agreement, dated as of   October 15, 2014 (as amended by that certain Amendment No. 1, dated as of July 1, 2015, Amendment   No. 2, dated as of November 1, 2016, Amendment No. 3, dated as of March 7, 2017 and Amendment No.   4 dated as of December 14, 2017 and as further amended, supplemented, amended and restated or   otherwise modified from time to time prior to the date hereof, the “Credit Agreement”) among the   Borrower, Holdings, the other guarantors party thereto, the Administrative Agent and the Lenders party   thereto;                              WHEREAS, pursuant to and on the terms set forth in Section 2.19 of the Credit   Agreement, the Borrower may request one or more additional tranches of Incremental Loans upon the   terms and subject to the conditions set forth therein and the Borrower has requested Incremental Loans to   be of the same Class as the Term B-4 Loans outstanding under the Credit Agreement immediately prior to   the effectiveness of this Amendment in an aggregate principal amount of  $125,000,000 (such   Incremental Loans, the “Additional Term B-4 Loans”), the proceeds of which will be used to repay   outstanding amounts under the ABL Credit Agreement, pay fees and expenses in connection therewith   and for general corporate purposes;                  WHEREAS, each Additional Term B-4 Lender has severally agreed, upon the terms and   subject to the conditions set forth herein, to make Additional Term B-4 Loans on the Amendment No. 5   Effective Date (as defined below) in an aggregate principal amount not to exceed the amount set forth   opposite such Additional Term B-4 Lender’s name under the heading “Additional Term B-4 Loan   Commitment” on Schedule 2.01 hereto (as to each such Additional Term B-4 Lender, its “Additional   Term B-4 Commitment”); and                  NOW, THEREFORE, in consideration of the premises and covenants contained herein   and for other good and valuable consideration, the receipt and sufficiency of which are hereby   acknowledged, the parties hereto, intending to be legally bound hereby, agree as follows:                Section 1.  Additional Term B-4 Loans.                  (a)   Subject to the terms and conditions set forth herein, each Additional Term B-4   Lender hereby (i) commits to provide Additional Term B-4 Loans to the Borrower in the amount of its   Additional Term B-4 Commitment and (ii) agrees to fund Additional Term B-4 Loans to the Borrower on   the Amendment No. 5 Effective Date in the amount of its Additional Term B-4 Commitment, after which   such commitment shall terminate immediately and without further action.  The aggregate amount of the   Additional Term B-4 Commitment on the Amendment No. 5 Effective Date is $125,000,000.                (b)   The Additional Term B-4 Loans shall have the same terms as the Term B-4  Loans and be part of the same Class as the Term B-4 Loans outstanding under the Credit Agreement  immediately prior to the effectiveness of this Amendment.  It is understood and agreed that on the  Amendment No. 5 Effective Date, upon funding, the Additional Term B-4 Loans shall be considered part  of the Term B-4 Loans under the Credit Agreement.  Interest will begin accruing on the Additional Term                                                                                                     

 

 B-4 Loans on the Amendment No. 5 Effective Date, with an Interest Period ending on the same day as the   last day of the Interest Period for the outstanding Term B-4 Loans.                (c)   Each Additional Term B-4 Lender (i) confirms that it has received a copy of the   Amended Credit Agreement (as defined below) and the other Loan Documents, together with copies of the   financial statements referred to therein and such other documents and information as it has deemed   appropriate to make its own credit analysis and decision to enter into this Amendment; (ii) agrees that it   will, independently and without reliance upon the Administrative Agent, the Amendment No. 5 Lead   Arrangers (as defined below), any other Additional Term B-4 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 the Amended Credit Agreement; (iii) appoints and authorizes   the Administrative Agent to take such action as agent on its behalf and to exercise such powers and   discretion under the Amended Credit Agreement and the other Loan Documents as are delegated to the   Administrative Agent by the terms thereof, together with such powers and discretion as are reasonably   incidental thereto; and (iv) agrees that it will perform in accordance with their terms all of the obligations   which by the terms of the Amended Credit Agreement are required to be performed by it as a Lender.                  Section 2. Representations and Warranties.  The Credit Agreement is, effective   as of the Amendment No. 5 Effective Date, hereby amended pursuant to Sections 2.19 and 10.1 of the   Credit Agreement to delete the stricken text (indicated textually in the same manner as the following   example: stricken text) and to add the double-underlined text (indicated textually in the same manner as   the following example: double-underlined text) as set forth in the Credit Agreement attached as Annex A   hereto  (the Credit Agreement as amended hereby, the “Amended Credit Agreement”).                 Section 3. Representations and Warranties.  Each of the Loan Parties (in the case   of Holdings only in respect of itself to the extent applicable and as set forth in this Section 3) represent  and warrant to the Administrative Agent and the Lenders as of the Amendment No. 5 Effective Date that  (immediately before and after giving effect to the incurrence of the Additional Term B-4 Loans) that:                (a)   This Amendment has been duly authorized, executed and delivered by it and  constitutes a legal, valid and binding obligation of such Loan Party, enforceable against it in accordance  with its terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization,  receivership, moratorium or other laws affecting creditors’ rights generally and by general principles of  equity;                (b)   The execution, delivery and performance by such Loan Party of this Amendment   and the consummation of the transactions contemplated herein are within such Loan Party’s corporate or   other powers, have been duly authorized by all necessary corporate or other organizational action and do   not (x) contravene the terms of any of such Person’s Organizational Documents, or (y) violate any Law;   except with respect to any violation referred to in this clause (y) to the extent that such violation could not   reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect;                (c)   All representations and warranties of the Borrower and each other Loan Party   contained in Section 3 of the Credit Agreement or any other Loan Document are true and correct in all   material respects (and in all respects if any such representation or warranty is already qualified by   materiality) on and as of the Amendment No. 5 Effective Date, except to the extent that such   representations and warranties specifically refer to an earlier date, in which case they are true and correct   in all material respects (and in all respects if any such representation or warranty is already qualified by   materiality) as of such earlier date, and except that, the representations and warranties contained in   Sections 3.1(a) and 3.1(b) of the Credit Agreement shall be deemed to refer to the most recent financial                                          2        

 

 statements furnished pursuant to Section 5.1(a) and (b) of the Credit Agreement, respectively, prior to the  Amendment No. 5 Effective Date;               (d)   No Default or Event of Default exists or has occurred and is continuing on and as  of the Amendment No. 5 Effective Date or, after giving effect hereto, would result from the application of  the proceeds from the Additional Term B-4 Loans;               (e)   The execution, delivery, performance or effectiveness of this Amendment will  not (a) impair the validity, effectiveness or priority of the Liens granted pursuant to any Loan Document,   and such Liens continue unimpaired with the same priority to secure repayment of all of the applicable   Obligations, whether heretofore or hereafter incurred, or (b) require that any new filings be made or other   action taken to perfect or to maintain the perfection of such Liens; and                (f)   As of the Amendment No. 5 Effective Date, the Company Group Members, on a   consolidated basis, are Solvent.                 Section 4.  Conditions.                  (a)   Conditions to the Amendment No. 5 Effective Date.  The effectiveness of this   Amendment and the agreements of each Additional Term B-4 Lender hereunder shall be subject to the   satisfaction of the following conditions precedent (the date upon which this Amendment becomes   effective, the “Amendment No. 5 Effective Date”):                      (i)   Certain Documents.  The Administrative Agent shall have received each               of the following, each dated the Amendment No. 5 Effective Date unless otherwise               indicated or agreed to by the Administrative Agent and each in form and substance               reasonably satisfactory to the Administrative Agent:                      (1)   counterparts of this Amendment that, when taken together, bear the              signatures of (A) Holdings, (B) the Borrower, (C) each Guarantor and (D) each              Additional Term B-4 Lender;                      (2)   such customary certificates of resolutions or other action, incumbency              certificates of Responsible Officers of Holdings, the Borrower and each Company              Guarantor as the Administrative Agent may reasonably require evidencing the identity,              authority and capacity of each Responsible Officer thereof authorized to act as a              Responsible Officer in connection with this Amendment;                      (3)   such other documents as the Lenders or the Administrative Agent may              reasonably request to evidence that Holdings, the Borrower and each Company Guarantor              is duly organized or formed, and that each of them is validly existing, in good standing in              its jurisdiction of organization (to the extent such concept is applicable in the relevant              jurisdiction), except to the extent that failure to be so qualified could not reasonably be              expected to have a Material Adverse Effect;                      (4)  an opinion of (i) Cleary Gottlieb Steen & Hamilton LLP, (ii) Morris,              Nichols, Arsht & Tunnell LLP and (iii) Snell & Wilmer LLP, in each case, customary in              form and substance and reasonably satisfactory to the Administrative Agent;                      (5)  the Administrative Agent shall have received the results of lien searches              reasonably requested by the Administrative Agent;                                          3        

 

                  (6)   a Borrowing Request relating to the Additional Term B-4 Loans             delivered to the Administrative Agent (which notice must be received by the             Administrative Agent prior to 1:00 p.m., New York City time, one Business Day prior to             the Amendment No. 5 Effective Date);                     (7)   a Note executed by the Borrower in favor of an Additional Term B-4             Lender if such Additional Term B-4 Lender requests a Note, reasonably in advance of the             Amendment No. 5 Effective Date;                      (8)  a certificate of a Responsible Officer of the Borrower to the effect that             each of the conditions set forth in Sections 2.19 and 4.2 of the Credit Agreement and this             Section 4 have been satisfied; and                      (9)  a completed “Life of Loan” Federal Emergency Management Agency             Standard Flood Hazard Determination with respect to each Mortgaged Property (together,             with respect to each such Mortgaged Property that is determined to be located within a             special flood hazard area, with a notice about special flood hazard area status and flood             disaster assistance duly executed by the Borrower and each Loan Party relating thereto             and as applicable, evidence of insurance).                     (ii) Fees and Expenses Paid.  The Amendment No. 5 Lead Arrangers and              Administrative Agent shall have received (or the Borrower shall have made arrangements              reasonably satisfactory to the Administrative Agent or the Amendment No. 5 Lead              Arrangers, as applicable, for such payment) all fees and other amounts due and payable             on or prior to the Amendment No. 5 Effective Date, including, to the extent invoiced,             reimbursement or payment of all out-of-pocket expenses (including the reasonable fees,              charges and disbursements of Cahill Gordon & Reindel LLP, counsel to the              Administrative Agent and the Amendment No. 5 Lead Arrangers) required to be              reimbursed or paid by the Borrower on or prior to the Amendment No. 5 Effective Date              hereunder or under any other Loan Document.                     (iii) Beneficial Ownership Regulation.  If the Borrower qualifies as a “legal              entity customer” under 31 C.F.R. § 1010.230 (the “Beneficial Ownership Regulation”),              the Borrower shall have delivered to the Administrative Agent, on or prior to the              Amendment No. 5 Effective Date, a certification regarding beneficial ownership as              required by the Beneficial Ownership Regulation to the extent requested by the              Administrative Agent or any Additional Term B-4 Lender.                     (iv)  Compliance with Credit Agreement.  The conditions precedent set forth              in Sections 2.19 and 4.2 of the Credit Agreement shall have been satisfied both before              and after giving effect to the incurrence of the Additional Term B-4 Loans.                     Section 5.  Post-Closing Covenant.  Within 150 days after the  Amendment No. 5 Effective Date, unless waived or extended by the Administrative Agent in its  reasonable discretion, the Administrative Agent shall have received either the items listed in paragraph (a)  or the items listed in paragraph (b) as follows:               (a)   an opinion or email confirmation from local counsel in each jurisdiction where a  Mortgaged Property is located, in form and substance reasonably satisfactory to the Administrative Agent,  substantially to the effect that:                                         4      

 

              (i) the recording of the existing Mortgage is the only filing or recording necessary to        give constructive notice to third parties of the lien created by such Mortgage as security for the        Secured Obligations (as defined in each Mortgage), including the Secured Obligations evidenced        by the Credit Agreement as amended by this Amendment and the other documents executed in        connection therewith, for the benefit of the Secured Parties; and                 (ii) no other documents, instruments, filings, recordings, re-recordings, re-filings or        other actions, including, without limitation, the payment of any mortgage recording taxes or        similar taxes, are necessary or appropriate under applicable law in order to maintain the continued        enforceability, validity or priority of the lien created by such Mortgage as security for the Secured        Obligations, including the Secured Obligations evidenced by the Credit Agreement as amended        by this Amendment and the other documents executed in connection therewith, for the benefit of        the Secured Parties.               (b)   with respect to the existing Mortgages, the following, in each case in form and  substance reasonably acceptable to the Administrative Agent:                 (i) with respect to each Mortgage encumbering a Mortgaged Property, an        amendment thereof (each a “Mortgage Amendment”) duly executed and acknowledged by the        applicable Loan Party, and in form for recording in the recording office where each Mortgage        was recorded, together with such certificates, affidavits, questionnaires or returns as shall be        required in connection with the recording or filing thereof under applicable law, in each case in        form and substance reasonably satisfactory to the Administrative Agent;                 (ii) with respect to each Mortgage Amendment relating to a Mortgaged Property for       which Borrower or any Loan Party delivered a Mortgage Policy pursuant to the Credit       Agreement, a date down endorsement (each, a “Title Endorsement,” collectively, the “Title        Endorsements”) to such Title Policy relating to the Mortgage encumbering the Mortgaged        Property subject to such Mortgage assuring the Administrative Agent that such Mortgage, as        amended by such Mortgage Amendment is a valid and enforceable first priority lien on such        Mortgaged Property in favor of the Administrative Agent for the benefit of the Secured Parties        free and clear of all defects, encumbrances and liens except for Permitted Encumbrances (as        defined in each Mortgage), and such Title Endorsement shall otherwise be in form and substance        reasonably satisfactory to the Administrative Agent;                 (iii) with respect to each Mortgage Amendment, opinions of local counsel to the Loan       Parties, which opinions (x) shall be addressed to the Administrative Agent and the Secured       Parties, (y) shall cover the enforceability of the respective Mortgage as amended by such       Mortgage Amendment, and such other matters incident to the transactions contemplated herein as       the Administrative Agent may reasonably request and (z) shall be in form and substance       reasonably satisfactory to the Administrative Agent;                 (iv) with respect to each Mortgaged Property, such affidavits, certificates,       information (including financial data) and instruments of indemnification (including without       limitation, a so-called “gap” indemnification) as shall be required to induce the title company to       issue the Title Endorsements; and                 (v) evidence acceptable to the Administrative Agent of payment by the Borrower of       all applicable title insurance premiums, search and examination charges and related charges,       mortgage recording taxes, fees, charges, costs and expenses required for the recording of the       Mortgage Amendments and issuance of the Title Endorsements.                                         5      

 

             Section 6.  Expenses.  As and to the extent provided in Section 10.5 of the Credit   Agreement, the Borrower agrees to reimburse the Administrative Agent for its and the Amendment No. 5  Lead Arrangers’ reasonable out-of-pocket expenses incurred by them in connection with this  Amendment, including the reasonable fees, charges and disbursements of Cahill Gordon & Reindel LLP,  counsel for the Administrative Agent and the Amendment No. 5 Lead Arrangers.                Section 7.  Counterparts.  This Amendment may be executed in any number of   counterparts and by different parties hereto on separate counterparts, each of which when so executed and   delivered shall be deemed to be an original, but all of which when taken together shall constitute a single   instrument.  Delivery of an executed counterpart of a signature page of this Amendment by facsimile   transmission or by email in “.pdf” format shall be effective as delivery of a manually executed   counterpart hereof.                 Section 8. Applicable Law.  The validity, interpretation and enforcement of this   Amendment and any dispute arising out of the relationship between the parties hereto, whether in   contract, tort, equity or otherwise, shall be governed by the internal laws of the State of New York but   excluding any principles of conflicts of law or other rule of law that would cause the application of the   law of any jurisdiction other than the laws of the State of New York.                 Section 9. Headings.  The headings of this Amendment are for purposes of   reference only and shall not limit or otherwise affect the meaning hereof.                 Section 10. Effect of Amendment.  Except as expressly set forth herein, this   Amendment shall not alter, modify, amend or in any way affect any of the terms, conditions, obligations,   covenants or agreements contained in the Credit Agreement or any other provision of the Credit   Agreement or any other Loan Document, all of which are ratified and affirmed in all respects and shall   continue in full force and effect.  As of the Amendment No. 5 Effective Date, each reference in the Credit   Agreement to “this Agreement,” “hereunder,” “hereof,” “herein,” or words of like import, and each  reference in the other Loan Documents to the Credit Agreement (including, without limitation, by means  of words like “thereunder,” “thereof” and words of like import), shall mean and be a reference to the  Credit Agreement as amended hereby, and this Amendment and the Credit Agreement shall be read  together and construed as a single instrument.  This Amendment shall constitute a Loan Document. The  parties hereto hereby consent to the incurrence of the Additional Term B-4 Loans upon the terms and  subject to the conditions set forth herein.  Upon the Amendment No. 5 Effective Date, all conditions and  requirements set forth in the Credit Agreement or the other Loan Documents relating to the effectiveness  of this Amendment and the incurrence of the Additional Term B-4 Loans shall be deemed satisfied.                    Section 11. Acknowledgement and Affirmation.   Each Company Loan Party   hereto hereby expressly acknowledges, as of the Amendment No. 5 Effective Date, (i) all of its   obligations under the Guarantee, the Security Documents and the other Loan Documents to which it is a  party are reaffirmed and remain in full force and effect on a continuous basis, (ii) its prior grant of   security interests pursuant to the Security Documents are reaffirmed and remain in full force and effect   after giving effect to this Amendment, (iii) the Obligations include, among other things and without  limitation, the due and punctual payment of the principal of, interest on, and premium (if any) on, the  Additional Term B-4 Loans and (iv) except as expressly set forth herein, the execution of this   Amendment shall not operate as a waiver of any right, power or remedy of the Administrative Agent or   Lenders, constitute a waiver of any provision of any of the Loan Documents or serve to effect a novation   of the Obligations. This Amendment shall not constitute a novation of the Credit Agreement or any other   Loan Document.                                            6        

 

              Section 12. Roles.  It is agreed that each of Wells Fargo Securities, LLC and BofA   Securities, Inc. will act as joint lead arrangers and bookrunners for the Additional Term B-4 Loans (the  “Amendment No. 5 Lead Arrangers and Bookrunners”).                                    [signature pages follow]                                           7        

 

                IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly  executed as of the date first above written.                    BORROWER:                            JELD-WEN, INC.                                                                                                                   By: /s/ Brian Luke                                                          Name: Brian Luke                                       Title:   Vice President & Treasurer                                            HOLDINGS:                            JELD-WEN HOLDING, INC.                                                                                                                   By: /s/ Laura W. Doerre                                                     Name:   Laura W. Doerre                                        Title:    Executive Vice President, General Counsel &                                        Chief Compliance Officer                                            GUARANTORS:                          JELD-WEN DOOR REPLACEMENT SYSTEMS, INC.                                                                                                                   By: /s/ Wallace D. Corwin                                                    Name: Wallace D. Corwin                                        Title:   President                                                                                                                                                            HARBOR ISLES, LLC                                        By: JELD-WEN, INC., its Sole Member                                                                                                                   By: /s/ Brian Luke                                                          Name: Brian Luke                                       Title:   Vice President & Treasurer                                                                                                                        JW INTERNATIONAL HOLDINGS, INC.                                        JW REAL ESTATE, INC.                                                                                                                   By: /s/ Brian Luke                                                          Name: Brian Luke                                       Title:   Treasurer                                                                                                                                                            KARONA, INC.                                        AMERICAN BUILDING SUPPLY, INC.                                        J B L HAWAII, LIMITED                                                                                                                   By: /s/ Brian Luke                                                          Name: Brian Luke                                       Title:   Treasurer                                                  

 

                                                                     BANK OF AMERICA, N. A.,  as Administrative Agent        By: /s/ Henry Pennell                       Name: Henry Pennell   Title:   Vice President                     WELLS FARGO BANK, NATIONAL ASSOCIATION   as an Additional Term B-4 Lender        By: /s/ Peter Schuebler                     Name:  Peter Schuebler   Title:   Vice President                                   

 

                                               Schedule 2.01                        Additional Term B-4 Loan Commitments                                                                                Additional Term B-4 Loan  Lender                                     Commitment  Wells Fargo Bank, National                                             $125,000,000  Association  Total:                                     $125,000,000                                                                          

 

                 ANNEX A   [See Attached]                                                                               

 

                                                                                                                                                   ANNEX A                                                                                                                                                                                  AMENDED TERM LOAN CREDIT AGREEMENT                                      among                               JELD-WEN Holding, Inc.,                                   as Holdings,                                  JELD-WEN, Inc.,                              as the Company Borrower,                    The Several Lenders from Time to Time Parties Hereto,                                       and                                Bank of America, N.A.,                               as Administrative Agent                              Dated as of October 15, 2014  As amended as of July 1, 2015, November 1, 2016, March 7, 2017 and2017. December 14, 2017 and                                September 20, 2019                                               Bank of America, N.A.,                             Wells Fargo Securities, LLC,                                Barclays Bank PLC,                          SunTrust Robinson Humphrey, Inc.                                      and                            KeyBank National Association                      as Joint Lead Arrangers and Joint Bookrunners                                              Barclays Bank PLC                                      and                    Merrill Lynch, Pierce, Fenner & Smith Incorporated                   as Amendment No. 1 Lead Arrangers and Bookrunners                   as Amendment No. 2 Lead Arrangers and Bookrunners                   and Amendment No. 3 Lead Arrangers and Bookrunners                                                            Merrill Lynch, Pierce, Fenner & Smith Incorporated,                                Barclays Bank PLC,                             JPMorgan Chase Bank N.A.                                      and                             Wells Fargo Securities, LLC                                                           as Amendment No. 4 Lead Arrangers and Bookrunners                                                                     Wells Fargo Securities, LLC                                      and                                BofA Securities, Inc.                                                           as Amendment No. 5 Lead Arrangers and Bookrunners                                

 

                                TABLE OF CONTENTS                                                                             Page  SECTION 1    DEFINITIONS ................................................................................................................ 1        1.1    Defined Terms ................................................................................................................. 1        1.2    Other Interpretive Provisions. ........................................................................................ 70        1.3    Accounting .................................................................................................................... 70        1.4    Limited Condition Transactions .................................................................................... 71  SECTION 2    AMOUNT AND TERMS OF COMMITMENTS ......................................................... 72        2.1    Commitments ................................................................................................................ 72        2.2    Procedure for Borrowing of Loans ................................................................................ 72        2.3    Repayment of Loans ...................................................................................................... 72        2.4    Fees ................................................................................................................................ 72        2.5    Optional Prepayments .................................................................................................... 73        2.6    Mandatory Prepayments ................................................................................................ 74        2.7    Conversion and Continuation Options........................................................................... 76        2.8    Limitations on Eurodollar Tranches .............................................................................. 76        2.9    Interest Rates and Payment Dates.................................................................................. 76        2.10   Computation of Interest ................................................................................................. 77        2.11   Inability to Determine Interest Rate; Illegality .............................................................. 77        2.12   Pro Rata Treatment and Payments ................................................................................. 80        2.13   Requirements of Law ..................................................................................................... 81        2.14   Taxes .............................................................................................................................. 82        2.15   Indemnity ....................................................................................................................... 85        2.16   Change of Lending Office ............................................................................................. 85        2.17   Replacement of Lenders ................................................................................................ 86        2.18   Notes .............................................................................................................................. 86        2.19   Incremental Credit Extensions. ...................................................................................... 87        2.20   Refinancing Amendments ............................................................................................. 89        2.21   Defaulting Lenders ........................................................................................................ 91        2.22   Loan Modification Offers .............................................................................................. 92        2.23   MIRE Event ................................................................................................................... 93  SECTION 3    REPRESENTATIONS AND WARRANTIES ............................................................. 93        3.1    Financial Condition. ...................................................................................................... 93        3.2    No Change ..................................................................................................................... 93        3.3    Existence; Compliance with Law .................................................................................. 93        3.4    Power; Authorization; Enforceable Obligations. ........................................................... 94        3.5    No Legal Bar ................................................................................................................. 94        3.6    Litigation ....................................................................................................................... 94        3.7    Ownership of Property; Liens ........................................................................................ 95        3.8    Intellectual Property ...................................................................................................... 95        3.9    Taxes .............................................................................................................................. 95        3.10   Federal Regulations ....................................................................................................... 95        3.11   ERISA ............................................................................................................................ 95        3.12   Investment Company Act .............................................................................................. 96        3.13   Environmental Matters .................................................................................................. 96        3.14   Accuracy of Information, etc. ........................................................................................ 96        3.15   Security Documents. ...................................................................................................... 97                                        -i-      

 

         3.16   Solvency ........................................................................................................................ 97        3.17   Patriot Act; FCPA; OFAC. ............................................................................................ 97        3.18   Status as Senior Indebtedness ........................................................................................ 98  SECTION 4    CONDITIONS PRECEDENT ....................................................................................... 98        4.1    Conditions to Closing Date ............................................................................................ 98        4.2    Conditions to Each Borrowing Date ............................................................................ 100  SECTION 5    AFFIRMATIVE COVENANTS ................................................................................. 101        5.1    Financial Statements .................................................................................................... 101        5.2    Certificates; Other Information.................................................................................... 102        5.3    Payment of Taxes ........................................................................................................ 103        5.4    Maintenance of Existence; Compliance with Law ...................................................... 103        5.5    Maintenance of Property; Insurance ............................................................................ 104        5.6    Inspection of Property; Books and Records; Discussions ........................................... 104        5.7    Notices ......................................................................................................................... 105        5.8    Environmental Laws. ................................................................................................... 105        5.9    Additional Collateral, etc. ............................................................................................ 105        5.10   Credit Ratings .............................................................................................................. 108        5.11   Further Assurances ...................................................................................................... 108        5.12   Designation of Unrestricted Subsidiaries .................................................................... 109        5.13   ERISA .......................................................................................................................... 109        5.14   Use of Proceeds ........................................................................................................... 109        5.15   [Reserved]. ................................................................................................................... 109        5.16   [Reserved]. ................................................................................................................... 109        5.17   Post-Closing Actions ................................................................................................... 109  SECTION 6    NEGATIVE COVENANTS ........................................................................................ 110        6.1    Limitation on Incurrence of Indebtedness and Issuance of Disqualified Stock               and Preferred Stock. .................................................................................................... 110        6.2    Limitation on Restricted Payments. ............................................................................. 117        6.3    Dividend and Other Payment Restrictions Affecting Subsidiaries .............................. 126        6.4    Asset Sales ................................................................................................................... 129        6.5    Transactions with Affiliates. ........................................................................................ 130        6.6    Liens ............................................................................................................................ 134        6.7    Merger, Consolidation or Sale of All or Substantially All Assets ............................... 134        6.8    [Reserved]. ................................................................................................................... 136        6.9    Changes in Fiscal Year ................................................................................................ 136        6.10   Negative Pledge Clauses ............................................................................................. 136        6.11   Lines of Business ......................................................................................................... 137  SECTION 7    GUARANTEE ............................................................................................................. 137        7.1    The Guarantee.............................................................................................................. 137        7.2    Obligations Unconditional ........................................................................................... 138        7.3    Reinstatement .............................................................................................................. 139        7.4    No Subrogation ............................................................................................................ 139        7.5    Remedies ..................................................................................................................... 139        7.6    Instrument for the Payment of Money ......................................................................... 139        7.7    Continuing Guarantee .................................................................................................. 139        7.8    General Limitation on Guarantor Obligations ............................................................. 139        7.9    Release of Guarantors .................................................................................................. 140                                       -ii-      

 

           7.10   Right of Contribution................................................................................................... 140         7.11   Keepwell ...................................................................................................................... 140  SECTION 8     EVENTS OF DEFAULT ............................................................................................ 141         8.1    Events of Default ......................................................................................................... 141         8.2    [Reserved]. ................................................................................................................... 143         8.3    Action in Event of Default ........................................................................................... 143         8.4    Application of Proceeds ............................................................................................... 143   SECTION 9    ADMINISTRATIVE AGENT .................................................................................... 144         9.1    Appointment and Authority. ........................................................................................ 144         9.2    Rights as a Lender. ...................................................................................................... 145         9.3    Exculpatory Provisions. ............................................................................................... 145         9.4    Reliance by Administrative Agent............................................................................... 146         9.5    Delegation of Duties. ................................................................................................... 147         9.6    Resignation and Removal of Administrative Agent. ................................................... 147         9.7    Non-Reliance on Administrative Agent and Other Lenders. ....................................... 148         9.8    No Other Duties, Etc. .................................................................................................. 148         9.9    Administrative Agent May File Proofs of Claim. ....................................................... 148         9.10   Collateral and Guaranty Matters. ................................................................................. 149         9.11   Intercreditor Agreements. ............................................................................................ 150         9.12   Withholding Tax Indemnity. ....................................................................................... 150         9.13   Indemnification. ........................................................................................................... 151   SECTION 10   MISCELLANEOUS .................................................................................................... 152         10.1   Amendments and Waivers. .......................................................................................... 152         10.2   Notices ......................................................................................................................... 154         10.3   No Waiver; Cumulative Remedies .............................................................................. 157         10.4   Survival of Representations and Warranties ................................................................ 157         10.5   Payment of Expenses and Taxes.................................................................................. 157         10.6   Successors and Assigns; Participations and Assignments ........................................... 158         10.7   [Reserved]. ................................................................................................................... 164         10.8   Adjustments; Set-off .................................................................................................... 164         10.9   Counterparts; Electronic Execution ............................................................................. 164         10.10  Severability .................................................................................................................. 165         10.11  Integration .................................................................................................................... 165         10.12  Governing Law ............................................................................................................ 165         10.13  Submission To Jurisdiction; Waivers .......................................................................... 165         10.14  Acknowledgements ..................................................................................................... 166         10.15  Confidentiality ............................................................................................................. 166         10.16  Waivers Of Jury Trial .................................................................................................. 167         10.17  USA Patriot Act Notification ...................................................................................... 167         10.18  Maximum Amount. ..................................................................................................... 167         10.19  Lender Action .............................................................................................................. 168         10.20  No Fiduciary Duty ....................................................................................................... 168         10.21  Acknowledgement and Consent to Bail-In of EEA Financial Institutions .................. 169         10.22  Certain ERISA Matters. ............................................................................................... 169                                                                        -iii-        

 

     SCHEDULES:   1.1A    Commitments   1.1B    [Reserved]   1.1C    Mortgaged Properties  1.1D     Specified Dispositions  3.9      Taxes  3.15(a)  UCC Filing Jurisdictions  4.1(h)   Local Counsel  6.1      Certain Existing Indebtedness  6.2      Certain Existing Investments   6.5      Certain Transactions with Affiliates   6.6      Certain Existing Liens     EXHIBITS:    A-1     Form of Pledge and Security Agreement  A-2      [Reserved]  A-3      [Reserved]  B        Form of Assignment and Assumption  C-1      Form of Exemption Certificate  C-2      Form of Exemption Certificate  C-3      Form of Exemption Certificate  C-4      Form of Exemption Certificate  D-1      Form of ABL-Term Intercreditor Agreement  D-2      Form of Intercreditor Terms  E        [Reserved]  F        Form of Note  G        [Reserved]  H        Form of Guarantor Joinder Agreement  I        Form of Borrowing Request  J        Form of Solvency Certificate                                          -iv-        

 

                 AMENDED TERM LOAN CREDIT AGREEMENT (this “Agreement”),   dated as of   December 14, 2017 among JELD-WEN Holding, Inc., a Delaware corporation (“Holdings”), JELD-WEN,   Inc., a Delaware corporation (the “Company Borrower” or the “Borrower”), the Company Subsidiary   Guarantors (this and each other capitalized term used herein without definition having the meaning assigned   to such term in Section 1.1), the several banks, financial institutions, institutional investors and other entities   from time to time party hereto as lenders (the “Lenders”), and Bank of America, N.A., as Administrative   Agent.    W I T N E S S E T H:                WHEREAS, on the Closing Date, the Lenders extended Loans to the Company Borrower  and the Tower Borrower (the “Initial Loans”) in an aggregate principal amount of $775,000,000;                WHEREAS, on the Amendment No. 1 Effective Date, the Term B-1 Lenders extended the  Term B-1 Loans (the “Term B-1 Loans”) to the Company Borrower and the Tower Borrower in an   aggregate principal amount of $480,000,000;                WHEREAS, on the Amendment No. 2 Funding Date, the Term B-2 Lenders extended the  Term B-2 Loans (the “Term B-2 Loans”) to the Company Borrower in an aggregate principal amount of   $1,611,637,500, the proceeds of which were used to prepay the Initial Loans and the Term B-1 Loans in   full and to fund the Amendment No. 2 Distribution;                WHEREAS, on the Amendment No. 3 Effective Date, the Term B-3 Lenders extended  the Term B-3 Loans (the “Term B-3 Loans”) to the Company Borrower in an aggregate principal amount   of $1,236,637,500, the proceeds of which were used to prepay the Term B-2 Loans in full;                WHEREAS, on the Amendment No. 4 Effective Date, the Company Borrower issued the  Senior Notes, the proceeds of which were used to voluntarily repay $787,362,718.79 of the outstanding  Term B-3 Loans immediately prior to the Amendment No. 4 Refinancing (the “Amendment No. 4   Prepayment”);                WHEREAS, on the Amendment No. 4 Effective Date, the Term B-4 Lenders agreed to  extend the Term B-4 Loans to the Borrower in an aggregate principal amount of $440,000,000, the proceeds  of which were used to refinance all outstanding Term B-3 Loans (after giving effect to the Amendment No.  4 Prepayment) (the “Amendment No. 4 Refinancing”);                WHEREAS, on the Amendment No. 5 Effective Date, the Additional Term B-4 Lenders   agreed to extend the Additional Term B-4 Loans to the Borrower in an aggregate principal amount of   $125,000,000, the proceeds of which were used for the purposes set forth in Amendment No. 5;                 WHEREAS, the Borrower has agreed to secure all of its Obligations by granting to the  Administrative Agent, for the benefit of the Secured Parties, a lien on substantially all of its assets (subject  to certain limitations set forth in the Loan Documents); and               WHEREAS, each of Holdings and the Company Subsidiary Guarantors has agreed to  guarantee the Obligations of the Borrower and to secure its respective Obligations by granting to the  Administrative Agent, for the benefit of the Secured Parties, a lien on substantially all of its assets (subject  to certain limitations set forth in the Loan Documents).                NOW, THEREFORE, the parties hereto hereby agree as follows:          

 

     SECTION 1   DEFINITIONS                  1.1 Defined Terms.  As used in this Agreement (including the recitals hereof), the     terms listed in this Section 1.1 shall have the respective meanings set forth in this Section 1.1.                “ABL Agent”:  the Senior Representative (which shall be Wells Fargo Bank, National   Association on the Closing Date) under the ABL Credit Agreement.                “ABL Credit Agreement”:  the Revolving Credit Agreement, dated as of the Closing Date,   among the Company Borrower, the other borrowers and guarantors party thereto, the lenders from time to   time party thereto and the ABL Agent, as amended, restated, refinanced, supplemented or otherwise   modified from time to time in accordance with this Agreement and the ABL-Term Intercreditor Agreement.                “ABL Documents”:  the ABL Credit Agreement and each other Loan Document (as   defined in the ABL Credit Agreement).                “ABL Obligations”:  as defined in the ABL-Term Intercreditor Agreement.                “ABL Priority Collateral”:  as defined in the ABL-Term Intercreditor Agreement.                “ABL-Term Intercreditor Agreement”:  an Intercreditor Agreement substantially in the   form of Exhibit D-1.                “ABR”:  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%, (c) the Eurodollar   Rate that would then be in effect for a Eurodollar Loan with an Interest Period of one month plus 1%   (provided that, for the avoidance of doubt, the Eurodollar Rate for any day (for purposes of the definition   of “ABR”) shall be based on the rate determined two Business Days prior to such date at approximately   11:00 A.M. (London, England time) as published on the applicable Bloomberg screen page (or such other   commercially available source providing such quotations as may be designated by the Administrative Agent   from time to time) for deposits in dollars with a term of one month) and (d) 2.00% per annum.  Any change   in the ABR due to a change in the Prime Rate or the Federal Funds Effective Rate shall be effective as of   the opening of business on the effective day of such change in the Prime Rate or the Federal Funds Effective   Rate, respectively.                “ABR Loans”:  Loans the rate of interest applicable to which is based upon the ABR.                “Acceptable Price”:  as defined in the definition of “Dutch Auction.”                “Accepting Lenders”:  as defined in Section 2.22(a).                “Acquired Indebtedness”: with respect to any specified Person:                (a)   Indebtedness of any other Person existing at the time such other Person is merged  with or into or became a Restricted Subsidiary of such specified Person whether or not such Indebtedness  is incurred in connection with, or in contemplation of, such other Person merging with or into, or becoming  a Restricted Subsidiary of such specified Person; and                (b)   Indebtedness secured by a Lien encumbering any asset acquired by such specified  Person;                                         -2-        

 

   provided that any Indebtedness of such Person that is extinguished, redeemed, defeased, retired or otherwise  repaid at the time of or immediately upon consummation of the transaction pursuant to which such other  Person becomes a Restricted Subsidiary of the specified Person will not be Acquired Indebtedness.               “Additional Amendment No. 1 Distributions”:  additional Restricted Payments, directly or  indirectly, to the Sponsor and the other equity holders of Holdings, including holders of equity awards or  equity-based awards, and/or payments in lieu thereof or related thereto, in an aggregate amount not to  exceed $50,000,000 (less the amount of Term B-1 Loans used by the Company Borrower and/or its  Restricted Subsidiaries to consummate certain acquisitions permitted hereunder).                 “Additional Lender”: at any time, any bank or other financial institution that agrees to  provide any portion of any (a) Incremental Loans pursuant to an Incremental Amendment in accordance  with Section 2.19 or (b) Permitted Credit Agreement Refinancing Debt pursuant to a Refinancing  Amendment in accordance with Section 2.20; provided that (i) the Administrative Agent shall have  consented (not to be unreasonably withheld, conditioned or delayed) to such Additional Lender if such  consent would be required under Section 10.6(b) for an assignment of Loans to such Additional Lender,  (ii) the Company Borrower shall have consented to such Additional Lender and (iii) if such Additional  Lender is an Affiliated Lender, such Additional Lender must comply with the limitations and restrictions  set forth in Section 10.6(b)(iv).               “Additional Term B-4 Commitment”: as defined in Amendment No. 5.                “Additional Term B-4 Lender”: as defined in Amendment No. 5.               “Additional Term B-4 Loan”: as defined in Amendment No. 5.                 “Administrative Agent”:  Bank of America, together with its affiliates, as the  administrative agent for the Lenders and as the collateral agent for the Secured Parties under this Agreement  and the other Loan Documents, together with any of its successors in such capacities.               “Affiliate”:  with respect to any specified Person, any other Person directly or indirectly  controlling or controlled by or under direct or indirect common control with such specified Person.  For  purposes of this definition, “control” (including, with correlative meanings, the terms “controlling”,  “controlled by” and “under common control with”), as used with respect to any Person, shall mean the  possession, directly or indirectly, of the power to direct or cause the direction of the management or policies  of such Person, whether through the ownership of voting securities, by agreement or otherwise.               “Affiliate Transaction”: as defined in Section 6.5(a).               “Affiliated Lender”: the Sponsor, any Debt Fund Affiliate or any Non-Debt Fund Affiliate.               “Aggregate Exposure”:  with respect to any Lender at any time, an amount equal to (a)  until the Closing Date, the aggregate amount of such Lender’s Commitments at such time and (b) thereafter,  the aggregate then unpaid principal amount of such Lender’s Loans.               “Aggregate Exposure Percentage”:  with respect to any Lender at any time, the ratio  (expressed as a percentage) of such Lender’s Aggregate Exposure at such time to the Aggregate Exposure  of all Lenders at such time.               “Agreement”:  as defined in the preamble hereto.                                        -3-      

 

               “Amendment No. 1”:  Amendment No. 1, dated as of July 1, 2015, by and among Holdings,  the Company Borrower, the Tower Borrower, the Administrative Agent and the Lenders party thereto.               “Amendment No. 1 Distribution”:  Restricted Payments, directly or indirectly, to the  Sponsor and the other equity holders of Holdings, including holders of equity awards or equity-based  awards, and/or payments in lieu thereof or related thereto, in an aggregate amount not to exceed  $420,000,000.               “Amendment No. 1 Effective Date”:  July 1, 2015.                            “Amendment No. 1 Engagement Letter”:  the engagement letter, dated as of June 10, 2015,  among the Administrative Agent, the Amendment No. 1 Lead Arrangers and Bookrunners and the  Company Borrower.                            “Amendment No. 1 Lead Arrangers and Bookrunners”:  Barclays Bank PLC and Merrill  Lynch, Pierce, Fenner & Smith Incorporated.                            “Amendment No. 1 Transactions”:  (i) the incurrence of the Term B-1 Loans, (ii) the other  amendments under Amendment No. 1, (iii) the Amendment No. 1 Distribution, (iv) the consummation of  certain acquisitions permitted hereunder and/or the payment of the Additional Amendment No. 1  Distributions and (v) the payment of fees and expenses in connection therewith and related transactions.                            “Amendment No. 2”:  Amendment No. 2, dated as of November 1, 2016, by and among  Holdings, the Borrower, the Administrative Agent and the Lenders party thereto.                            “Amendment No. 2 Distribution”:  Restricted Payments, directly or indirectly, to the  Sponsor and the other equity holders of Holdings, including holders of equity awards or equity-based  awards, and/or payments in lieu thereof or related thereto, in an aggregate amount not to exceed  $400,000,000.                             “Amendment No. 2 Effective Date”:  November 1, 2016.                            “Amendment No. 2 Engagement Letter”:  the engagement letter, dated as of October 4,  2016, among the Administrative Agent, the Amendment No. 2 Lead Arrangers and Bookrunners and the  Company Borrower.                             “Amendment No. 2 Funding Date”:  the date on which the Term B-2 Loans are funded by  the Term B-2 Lenders.                            “Amendment No. 2 Lead Arrangers and Bookrunners”:  Barclays Bank PLC and Merrill  Lynch, Pierce, Fenner & Smith Incorporated.                            “Amendment No. 2 Transactions”:  (i) the incurrence of the Term B-2 Loans and the  repayment of the Initial Loans and the Term B-1 Loans, (ii) the other amendments under Amendment No.  2, (iii) the Amendment No. 2 Distribution, (iv) that certain Amendment No. 2 to the ABL Credit Agreement,  dated as of November 1, 2016, among the Company Borrower, the other borrowers and guarantors party  thereto, the lenders from time to time party thereto and the ABL Agent, (v) the Tower Release and (vi) the  payment of fees and expenses in connection therewith and related transactions.                            “Amendment No. 3”:  Amendment No. 3, dated as of March 7, 2017, by and among  Holdings, the Borrower, the Administrative Agent and the Lenders party hereto.                                       -4-      

 

                                “Amendment No. 3 Effective Date”:  March 7, 2017.                              “Amendment No. 3 Engagement Letter”:  the engagement letter, dated as of February   February 23, 2017, among the Amendment No. 3 Lead Arrangers and Bookrunners and the Borrower.                               “Amendment No. 3 Lead Arrangers and Bookrunners”:  Barclays Bank PLC and Merrill   Lynch, Pierce, Fenner & Smith Incorporated (or any other registered broker-dealer wholly-owned by Bank   of America Corporation to which all or substantially all of Bank of America Corporation’s or any of its   subsidiaries’ investment banking, commercial lending services or related businesses may be transferred   following the Amendment No. 3 Effective Date).                              “Amendment No. 3 Transactions”:  (i) the incurrence of the Term B-3 Loans and the   refinancing of all outstanding Term B-2 Loans, (ii) the other amendments under Amendment No. 3 and (iii)   the payment of fees and expenses in connection therewith and related transactions.                              “Amendment No. 4”:  Amendment No. 4, dated as of December 14, 2017, by and among   Holdings, the Borrower, the Company Subsidiary Guarantors party thereto, the Administrative Agent and   the Lenders party thereto.                              “Amendment No. 4 Effective Date”: December 14, 2017.                              “Amendment No. 4 Engagement Letter”:  the engagement letter, dated as of December 4,   2017, among Merrill Lynch, Pierce, Fenner & Smith Incorporated and the Borrower.                               “Amendment No. 4 Lead Arrangers and Bookrunners”:  Merrill Lynch, Pierce, Fenner &   Smith Incorporated (or any other registered broker-dealer wholly-owned by Bank of America Corporation   to which all or substantially all of Bank of America Corporation’s or any of its subsidiaries’ investment   banking, commercial lending services or related businesses may be transferred following the Amendment   No. 4 Effective Date), Barclays Bank PLC, JPMorgan Chase Bank N.A. and Wells Fargo Securities, LLC.                              “Amendment No. 4 Prepayment”:  as defined in the preamble.                               “Amendment No. 4 Refinancing”:  as defined in the preamble.                               “Amendment No. 4 Transactions”:  (i) the issuance of the Senior Notes, (ii) the   Amendment No. 4 Prepayment, the incurrence of the Term B-4 Loans and the Amendment No. 4  Refinancing, (iii) entry into that certain Amendment No. 3 to the ABL Credit Agreement, dated as of  December 14, 2017, among Holdings, the Company Borrower, the other borrowers and guarantors party  thereto, the lenders party thereto and the ABL Agent and (iv) the payment of fees and expenses in  connection therewith and related transactions.                              “Amendment No. 5”:  Amendment No. 5, dated as of September 20, 2019, by and among   Holdings, the Borrower, the Company Subsidiary Guarantors party thereto, the Administrative Agent and   the Lenders party thereto.                              “Amendment No. 5 Effective Date”: September 20, 2019.                              “Amendment No. 5 Engagement Letter”:  the engagement letter, dated as of September9,   2019, among Wells Fargo Securities, LLC and the Borrower.                                                        -5-        

 

                 “Amendment No. 5 Lead Arrangers and Bookrunners”:  as defined in Amendment No. 5.                               “Applicable Discount”:  as defined in the definition of “Dutch Auction.”                “Applicable Margin”:  with respect to:                (a)   any Term B-4 Loan , the following percentages per annum, based upon the  Company Borrower’s public corporate credit rating from each of S&P and Moody’s (the “Rating”) in   accordance with the pricing grid set forth below:                                     Rating (Corporate                   Pricing   and Stable or   Eurodollar                   Level       better)         Rate           ABR                     1         BB/Ba2          1.75%          0.75%                     2        BB-/Ba3          2.00%          1.00%                   Any increase or decrease in the Applicable Margin resulting from a publicly announced change in the   Rating shall become effective as of the first Business Day immediately following the public announcement   thereof and ending on the date immediately preceding the effective date of the next such change.  In the   event of a split Rating, the Applicable Margin will be determined by reference to the lower Rating; provided   that if there is no Rating from either S&P or Moody’s then Level II shall apply. Upon the request of the   Majority Lenders holding Term B-4 Loans, the highest Pricing Level shall apply as of the first Business   Day after an Event of Default under Section 8.1(a) or Section 8.2(a) shall have occurred and be continuing,   and shall continue to so apply up to but excluding the date on which such Event of Default is cured or   waived (and thereafter the Pricing Level otherwise determined in accordance with this definition shall   apply).                 (b)  any Incremental Loan, the Applicable Margin shall be as set forth in the  Incremental Amendment relating to the Incremental Commitment in respect of such Incremental Loan;               (c)    any Other Loan, the Applicable Margin shall be as set forth in the Refinancing  Amendment relating to such Loan; and               (d)    any Extended Loan, the Applicable Margin shall be as set forth in the Loan   Modification Agreement relating to such Loan.                “Applicable Requirements”:  in respect of any Indebtedness, Indebtedness that satisfies the   following requirements:                (a)   (i) if such Indebtedness is secured by the Collateral on a pari passu basis with the   Obligations, such Indebtedness does not mature prior to the Latest Maturity Date and (ii) for any other   Indebtedness, such Indebtedness does not mature or have scheduled amortization or payments of principal   and is not subject to mandatory redemption or prepayment (except customary asset sale or change of control   provisions), in each case prior to the date that is 91 days after the then Latest Maturity Date at the time such   Indebtedness is incurred;                (b)   if such Indebtedness is secured by the Collateral, a Senior Representative acting   on behalf of the holders of such Indebtedness has become party to the applicable Intercreditor Agreements   (and/or the applicable Intercreditor Agreements have been amended, supplemented or replaced in a manner                                         -6-        

 

     reasonably acceptable to the Administrative Agent, which results in such Senior Representative having   rights to share in the Collateral on a pari passu basis or a junior-lien basis, as applicable);                (c)   to the extent such Indebtedness is secured, it is not secured by any property or  assets of Holdings, the Borrower or any Restricted Subsidiary thereof other than the Collateral (it being  agreed that such Indebtedness shall not be required to be secured by all of the Collateral); provided that   Indebtedness that may be incurred by Non-Guarantor Subsidiaries pursuant to Section 6.1 may be secured   by assets of Non-Guarantor Subsidiaries; and                (d)   if such Indebtedness is permitted under Section 6.1 and such Indebtedness is   incurred by (i) any Non-Guarantor Subsidiary, such Indebtedness shall not be guaranteed by any Loan Party  and (ii) the Borrower or any Guarantor, such Indebtedness shall not be guaranteed by any Person other than  the Borrower or Guarantors and shall not have any obligors other than the Borrower or Guarantors;    provided that a certificate of a Responsible Officer delivered to the Administrative Agent at least five   Business Days (or a shorter period acceptable to the Administrative Agent) prior to the incurrence of such   Indebtedness, together with a reasonably detailed description of the material terms and conditions of such   Indebtedness or drafts of the documentation relating thereto, stating that the Company Borrower has   determined in good faith that such terms and conditions satisfy the requirements of this definition, shall be   conclusive evidence that such terms and conditions satisfy the requirements of this definition, unless the   Administrative Agent notifies the Company Borrower within such five Business Day period that it disagrees   with such determination (including a reasonable description of the basis upon which it disagrees).                “Approved Electronic Communications”:  as defined in Section 10.2.                “Approved Fund”:  as defined in Section 10.6(b)(ii).                “Asset Sale”:                (1)   the sale, conveyance, transfer or other disposition (whether in a single transaction  or a series of related transactions) of property or assets (including by way of a Sale Leaseback Transaction)  of the Company Borrower or any Restricted Subsidiary thereof outside of the ordinary course of business  of the Company Borrower or such Restricted Subsidiary (each referred to in this definition as a  “disposition”) or                (2)   the issuance or sale of Equity Interests of any Restricted Subsidiary of the  Borrower (other than (x) directors’ qualifying shares or shares or interests required to be held by foreign  nationals or other third parties to the extent required by applicable law or (y) Preferred Stock or Disqualified  Stock of a Restricted Subsidiary issued in compliance with Section 6.1), other than to the Borrower or   another Restricted Subsidiary of the Borrower (whether in a single transaction or a series of related   transactions), in each case other than:                (a)   a sale, exchange or other disposition of cash, Cash Equivalents or Investment   Grade Securities or obsolete, damaged, unnecessary, unsuitable or worn out equipment or any sale or   disposition of property or assets in connection with scheduled turnarounds, maintenance and equipment   and facility updates or any disposition of inventory or goods (or other assets) held for sale or no longer used   in the ordinary course of business;                (b)   the sale, conveyance or other disposition of all or substantially all of the assets of  the Company Borrower in a manner permitted pursuant to Section 6.7;                                         -7-        

 

                 (c)   any Permitted Investment or Restricted Payment that is permitted to be made, and  is made, under Section 6.2;                (d)   any disposition of assets or issuance or sale of Equity Interests of any Restricted  Subsidiary of the Company Borrower with an aggregate Fair Market Value of less than $5,000,000;               (e)    any transfer or disposition of property or assets by a Restricted Subsidiary of the  Company Borrower to the Company Borrower or by the Company Borrower or a Restricted Subsidiary  thereof to a Restricted Subsidiary of the Company Borrower that is a Guarantor hereunder;                (f)   sales of assets received by the Company Borrower or any of its Restricted  Subsidiaries upon the foreclosure on a Lien;                (g)   any issuance or sale of Equity Interests in, or Indebtedness or other securities of,  an Unrestricted Subsidiary;                (h)   the unwinding of any Hedging Obligations;               (i)    the sale, lease, assignment, license or sublease of inventory, equipment, accounts  receivable, notes receivable or other current assets held for sale in the ordinary course of business or the  conversion of accounts receivable into a notes receivable;               (j)    the lease, assignment or sublease of any real or personal property in the ordinary  course of business;               (k)    any financing transaction with respect to property built or acquired by the  Company Borrower or any Restricted Subsidiary thereof after the Closing Date;               (l)   any exchange of assets for assets (including a combination of assets and Cash  Equivalents) related to a Similar Business of comparable or greater market value or usefulness to the  business of the Company Borrower and its Restricted Subsidiaries, as a whole, as determined in good faith  by the Company Borrower, which in the event of an exchange of assets with a Fair Market Value in excess  of $75,000,000 shall be set forth in a resolution approved in good faith by at least a majority of the Board  of Directors of the Company Borrower;               (m)   the grant in the ordinary course of business of any Intellectual Property Licenses;               (n)   any sale or other disposition deemed to occur with creating, granting or perfecting  a Lien not otherwise prohibited by this Agreement or the Loan Documents;               (o)   the surrender or waiver or contract rights or settlement, release or surrender of a  contract, tort or other litigation claim in the ordinary course of business;               (p)   foreclosures, condemnations or any similar action on assets;               (q)   the sale (without recourse) of receivables (and related assets) pursuant to factoring  arrangements entered into in the ordinary course of business;                (r)   the sale, transfer, conveyance or other disposition of the assets (such assets, the  “Specified Assets”) set forth on Schedule 1.1D (each, a “Specified Disposition”);                (s)   [reserved];                                        -8-        

 

                 (t)   [reserved];                (u)   any disposition of non-core assets (as determined by the Company Borrower in  good faith) acquired pursuant to any Permitted Acquisition by the Company Borrower or any Restricted  Subsidiary, provided that (i) the value of such non-core assets does not exceed 50.0% of the consideration   paid in connection with such Permitted Acquisition, (ii) not less than 50.0% of the consideration payable   to the Company Borrower and the Restricted Subsidiaries in connection with such Disposition is in the   form of cash or Cash Equivalents (provided, further, that for purposes of this clause (ii), any Designated   Non-Cash Consideration received by the Company Borrower or such Restricted Subsidiary in respect of   such Disposition having an aggregate fair market value, taken together with all other Designated Non-Cash   Consideration received pursuant to this proviso that is at that time outstanding, not in excess of the greater   of $45,000,000 and 10% of Consolidated EBITDA, 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, shall be deemed to be cash), (iii) the consideration payable to the Company Borrower and   the Restricted Subsidiaries in connection with such Disposition is not less than aggregate fair market value   (as determined in good faith by the Company Borrower) thereof (iv) no Event of Default has occurred and   is continuing or would result therefrom and (v) all dispositions pursuant to this clause (u) do not exceed, in   the aggregate, $50,000,000;                 (v)   sales, transfers and other dispositions of Investments in joint ventures to the extent  required by, or made pursuant to, customary buy/sell arrangements between the joint venture parties set  forth in joint venture arrangements and similar binding arrangements; and               (w)   the lapse, abandonment or other disposition (including the failure to enforce,  renew, prosecute or defend) of intellectual property rights in the ordinary course of business, which in the  reasonable good faith determination of the Company Borrower are no longer commercially reasonable to  maintain or are not material to the conduct of the business of the Company Borrower and its Restricted  Subsidiaries taken as a whole.                “Assignee”:  as defined in Section 10.6(b)(i).                “Assignment and Assumption”:  an Assignment and Assumption, substantially in the form   of Exhibit B.                “Auction Purchase”:  a purchase of Loans or Commitments pursuant to a Dutch Auction   (x) in the case of a Permitted Auction Purchaser, in accordance with the provisions of Section 10.6(b)(iii)   or (y) in the case of an Affiliated Lender, in accordance with the provisions of Section 10.6(b)(iv).                “Bail-In Action” shall mean 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” shall mean, 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.                “Bank of America” means Bank of America, N.A., a national banking association, acting   in its individual capacity, and its successors.                “Bankruptcy Code”:  Title 11 of the United States Code entitled “Bankruptcy”, as now and   hereinafter in effect, or any successor statute.                                         -9-        

 

               “Beneficially Own”:  as defined within the meaning of Rules 13d-3 and 13d-5 under the  Exchange Act; “Beneficial Ownership” shall have a correlative meaning.               “Benefited Lender”:  as defined in Section 10.8(a).               “Benefit Plan” means any of (a) an “employee benefit plan” (as defined in ERISA) that is  subject to Title I of ERISA, (b) a “plan” as defined in Section 4975 of the Code or (c) any Person whose  assets include (for purposes of ERISA Section 3(42) or otherwise for purposes of Title I of ERISA or  Section 4975 of the Code) the assets of any such “employee benefit plan” or “plan”.               “Board”:  the Board of Governors of the Federal Reserve System of the United States (or  any successor).               “Board of Directors”: as to any Person, the board of directors or managers, sole member  or managing member, or other governing body, as applicable, of such Person (or, if such Person is a  partnership, the board of directors or other governing body of the general partner of such Person) or any  duty authorized committee thereof.               “Borrower”:  as defined in the preamble hereto.               “Borrowing”:  a borrowing consisting of simultaneous Loans of the same Type.               “Borrowing Base”:  as defined in Section 6.1(b)(ii).                 “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 Request”:  a certificate duly executed by a Responsible Officer substantially  in the form of Exhibit I.               “Business”:  as defined in Section 3.13(b).               “Business Day” means any day other than a Saturday, Sunday or other day on which  commercial banks are authorized to close under the Laws of, or are in fact closed in, the state where the  office of the Administrative Agent is located as specified in Section 10.2 and, if such day relates to any  Eurodollar Rate Loan, means any such day that is also a London Banking Day.               “Business Successor” means (a) any former Subsidiary of the Company Borrower and (b)  any Person that, after the Amendment No. 4 Effective Date, has acquired, merged or consolidated with a  Subsidiary of the Company Borrower (that results in such Subsidiary ceasing to be a Subsidiary of the  Company Borrower), or acquired (in one transaction or a series of transactions) all or substantially all of  the property and assets or business of a Subsidiary or assets constituting a business unit, line of business or  division of a Subsidiary of the Company Borrower.               “Cancellation” or “Cancelled”:  the cancellation, termination and forgiveness by Permitted  Auction Purchaser of all Loans, Commitments and related Obligations acquired in connection with an  Auction Purchase or other acquisition of Loans, which cancellation shall be consummated as described in  Section 10.6(b)(iii)(C) and the definition of “Eligible Assignee.”               “Capital Stock”: (1) in the case of a corporation, corporate stock; (2) in the case of an  association or business entity, any and all shares, interests, participations, rights or other equivalents                                        -10-      

 

     (however designated) of corporate stock; (3) in the case of a partnership or limited liability company,   partnership or membership interests (whether general or limited); and (4) any other interest or participation   that confers on a Person the right to receive a share of the profits and losses of, or distributions of assets of,   the issuing Person.                “Capitalized Lease Obligations”:  at the time any determination thereof is to be made, the   amount of the liability in respect of a capital lease that would at such time be required to be capitalized and   reflected as a liability on a balance sheet (excluding the footnotes thereto) in accordance with GAAP.  For   the avoidance of doubt, “Capitalized Lease Obligations” shall not include obligations or liabilities of any   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 would be required to be classified   and accounted for as an operating lease under GAAP as existing on the Closing Date.                “Cash Contribution Amount”: the aggregate amount of cash contributions made to the   capital of the Borrower or any Guarantor described in the definition of “Contribution Indebtedness.”                “Cash Equivalents”:                (1)   U.S. dollars, Canadian dollars, pounds sterling, euros, the national currency of any  participating member state of the European Union and local currencies held by the Borrower and any  Restricted Subsidiaries thereof from time to time in the ordinary course of business in connection with any  business conducted by such Person in such foreign jurisdiction;               (2)   securities issued or directly and fully guaranteed or insured by the government of  the United States, Canada or any country that is a member of the European Union or any agency or  instrumentality thereof in each case with maturities not exceeding two years from the date of acquisition;               (3)   certificates of deposit, time deposits and eurodollar time deposits with maturities  of one year or less from the date of acquisition, bankers’ acceptances, in each case with maturities not  exceeding one year, and overnight bank deposits, in each case with any commercial bank having capital  and surplus in excess of $500,000,000, or the foreign currency equivalent thereof, and whose long-term  debt is rated with an Investment Grade Rating by Moody’s or S&P (or reasonably equivalent ratings of  another internationally recognized ratings agency);               (4)   repurchase obligations for underlying securities of the types described in clauses  (2) and (3) above entered into with any financial institution meeting the qualifications specified in clause  (3) above;               (5)   commercial paper issued by a corporation (other than an Affiliate of the Borrower)  rated at least “P-1/A-1” or the equivalent thereof by Moody’s or S&P (or reasonably equivalent ratings of  another internationally recognized ratings agency) and in each case maturing within one year after the date  of acquisition;               (6)   readily marketable direct obligations issued by any state or commonwealth of the  United States of America or any political subdivision thereof having one of the two highest rating categories  obtainable from either Moody’s or S&P (or reasonably equivalent ratings of another internationally  recognized ratings agency) in each case with maturities not exceeding two years from the date of  acquisition;                                          -11-        

 

                 (7)   Indebtedness or Preferred Stock issued by Persons (other than the Sponsor or any  of its Affiliates) with a rating of “A” or higher from S&P or “A-2” or higher from Moody’s in each case  with maturities not exceeding two years from the date of acquisition;               (8)    investment funds investing at least 95% of their assets in securities of the types  described in clauses (1) through (7) above; and               (9)    instruments equivalent to those referred to in clauses (1) through (7) above  denominated in Euro or pound sterling or any other foreign currency comparable in credit quality and tenor  to those referred to above and customarily used by corporations for cash management purposes in any  jurisdiction outside the United States to the extent reasonably required in connection with (a) any business  conducted by any Restricted Subsidiary organized in such jurisdiction or (b) any Investment in the  jurisdiction where such Investment is made.                “Cash Management Agreement”:  any agreement to provide Cash Management Services.                “Cash Management Obligations”:  all obligations, including guarantees thereof, of any   Group Member to a Cash Management Provider that has appointed in writing the Administrative Agent as   its collateral agent in a manner reasonably acceptable to the Administrative Agent and has agreed in writing   with the Administrative Agent that it is providing Cash Management Services to one or more Group   Members arising from transactions in the ordinary course of business of any Group Member, to the extent   such obligations are primary obligations of a Loan Party or are guaranteed by a Loan Party.                “Cash Management Provider”:  any Person that, as of the Closing Date or as of the date it   enters into any Cash Management Agreement, is a Lender, a Joint Lead Arranger or the Administrative   Agent or an Affiliate of a Lender, a Joint Lead Arranger or the Administrative Agent, in its capacity as a   counterparty to such Cash Management Agreement.                “Cash Management Services”:  any cash management facilities or services, including (i)   treasury, depositary and overdraft services, automated clearinghouse transfer of funds (ii) foreign exchange,   netting and currency management services and (iii) purchase cards, credit or debit cards, electronic funds   transfer, automated clearinghouse arrangements or similar services.                “CFC”:  a “controlled foreign corporation” within the meaning of Section 957 of the Code.                “CFC Holdco”:  a Subsidiary that has no material assets other than capital stock of one or   more direct or indirect Foreign Subsidiaries that are CFCs.                “Change in Law”:  (a) the adoption or taking effect of any Requirement of Law after the   Closing Date, (b) any change in any Requirement of Law or in the administration, interpretation,   implementation or application thereof by any Governmental Authority after the Closing Date or (c) the   compliance by any Lender with any request, rule, guideline or directive (whether or not having the force of   law) of any Governmental Authority made or issued after the Closing Date; provided, however, that (i) the   Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines,   requirements and directives thereunder, issued in connection therewith or in implementation thereof and   (ii) all requests, rules, guidelines, requirements and directives promulgated by the Bank for International   Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) of the   United States or foreign regulatory authorities, in each case pursuant to Basel III, shall in each case   constitute a “Change in Law” regardless of the date enacted, adopted or issued.                                          -12-        

 

                 “Change in Tax Law”: shall mean the enactment, promulgation, execution or ratification   of, or any change in or amendment to, any law, treaty, regulation or rule (or in the official application or   interpretation of any law, treaty, regulation or rule, including a holding, judgment or order by a court of   competent jurisdiction) relating to taxation.                “Change of Control”:  the occurrence of any of the following: (1) the sale, lease or transfer,   in one or a series of related transactions, of all or substantially all of the assets of the Company Borrower   and its Restricted Subsidiaries, taken as a whole, to any Person other than a Restricted Subsidiary or one or  more Permitted Holders; or (2) the Company Borrower becomes aware of (by way of a report or any other  filing pursuant to Section 13(d) of the Exchange Act, proxy, vote, written notice or otherwise) the  acquisition by any Person or group (within the meaning of Section 13(d)(3) or Section 14(d)(2) of the  Exchange Act, or any successor provision), including any group acting for the purpose of acquiring, holding  or disposing of securities (within the meaning of Rule 13d-5(b)(1) under the Exchange Act, or any successor   provision), other than one or more Permitted Holders, in a single transaction or in a related series of   transactions, by way of merger, amalgamation, consolidation or other business combination or purchase of   beneficial ownership (within the meaning of Rule 13d-3 or 13d-5 under the Exchange Act, or any successor   provision) of 50% or more of the total voting power of the Voting Stock of the Company Borrower other   than in connection with any transaction or series of transactions in which the Company Borrower shall   become a wholly owned Subsidiary of a parent entity of which no person or group, as noted above, holds   50% or more of the total voting power (other than a Permitted Holder).                “Class”:  (a) when used with respect to Commitments, refers to whether such Commitments   are Commitments, Incremental Commitments, Other Commitments or Extended Commitments and (b)   when used with respect to Loans or a Borrowing, refers to whether such Loans, or the Loans comprising   such Borrowing, are Loans, any separately identifiable Incremental Loans, Other Loans or Extended Loans.    Other Commitments, Extended Commitments, Incremental Commitments, Other Loans, Extended Loans   and Incremental Loans made pursuant to any Incremental Amendment that have different terms and   conditions shall be construed to be in different Classes.                “Closing Date”:  October 15, 2014.                “Code”:  the Internal Revenue Code of 1986, as amended from time to time.                “Collateral”:  all of the assets and property of the Loan Parties, now owned or hereafter   acquired, whether real, personal or mixed upon which a Lien is purported to be created by any Security   Document, other than Excluded Assets.                “Commitment”:  as to any Lender, (i) the Term B-4 Commitments (including the   Additional Term B-4 Commitments), (ii) the Incremental Commitments, if any, issued after the   Amendment No. 45 Effective Date pursuant to Section 2.19 or (iii) Other Commitments, if any, issued after   the Amendment No. 45 Effective Date pursuant to a Refinancing Amendment entered into pursuant to   Section 2.20.                “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 Holdings within the meaning of Section 4001 of ERISA or is part of a group that   includes Holdings and that is treated as a single employer under Section 414 of the Code.                “Company Borrower”:  as defined in the preamble hereto.                                         -13-        

 

                 “Company Group Member”:  the collective reference to Holdings, the Company Borrower   and its Restricted Subsidiaries.                “Company Guarantors”:  the collective reference to Holdings and the Company Subsidiary   Guarantors.                “Company Loan Party”:  the collective reference to each Loan Party that is a Company   Group Member.                “Company Subsidiary Guarantor”:  each Restricted Subsidiary of the Company Borrower   that is a Domestic Subsidiary other than each Excluded Subsidiary.                 “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 Company Borrower and its Restricted   Subsidiaries at such date.                “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 Company Borrower and its Restricted Subsidiaries at such date, but excluding (a) the   current portion of any Funded Debt of the Company Borrower and its Restricted Subsidiaries and (b)   without duplication of clause (a) above, all Indebtedness consisting of Loans to the extent otherwise   included therein.                “Consolidated EBITDA”: with respect to the Company Borrower and its Restricted   Subsidiaries for any period, the Consolidated Net Income of the Company Borrower and its Restricted   Subsidiaries for such period:                (1)   increased (without duplication) by the following, in each case, to the extent  deducted (and not added back) in arriving at Consolidated Net Income of such Person for such period:                (a)   provision for taxes based on income or profits or capital, including state, franchise,  excise, property and similar taxes and foreign withholding taxes of such Person paid or accrued during such  period deducted (and not added back) in computing Consolidated Net Income, including giving effect to  any penalties and interest with respect thereto, and state taxes in lieu of business fees (including business  license fees) and payroll tax credits, income tax credits and similar tax credits; plus                (b)   consolidated Fixed Charges of such Person for such period (including (x) bank  fees, (y) costs of surety bonds in connection with financing activities, in each case, to the extent included  in Fixed Charges and (z) premium payments, debt discount, fees, charges and related expenses incurred in  connection with borrowed money (including capitalized interest) or in connection with the deferred  purchase price of assets), together with items excluded from the definition of “Consolidated Interest  Expense” pursuant to clauses (1)(r) through (1)(z) thereof, in each case, to the extent the same was deducted  (and not added back) in calculating such Consolidated Net Income;  plus                (c)   Consolidated Non-Cash Charges of such Person for such period to the extent such  non-cash charges were deducted (and not added back) in computing Consolidated Net Income; plus                (d)   any expenses (including legal and professional fees, costs and expenses) or charges   (other than depreciation or amortization expense) related to any Equity Offering, Permitted Investment,   acquisition, disposition, recapitalization or the Incurrence of Indebtedness permitted to be Incurred by this                                         -14-        

 

     Agreement, including a refinancing thereof, and any amendment or modification to the terms of any such   transaction (in each case, whether or not successful), including such fees, costs, expenses or charges related   to the Transactions, in each case, deducted (and not added back) in computing Consolidated Net Income;   plus                (e)   the amount of cash restructuring costs, charges, expenses, accruals and reserves  and business optimization expense included in such period in computing Consolidated Net Income,  including any one-time costs incurred in connection with acquisitions after the Closing Date, and costs  related to the closure, reconfiguration and/or consolidation of facilities, start-up costs and costs to relocate  employees, integration and transaction costs, retention charges, severance, contract termination costs,  recruiting and signing bonuses and expenses, future lease commitments, systems establishment costs,  conversion costs and excess pension charges and consulting fees, expenses attributable to the  implementation of costs savings initiatives, costs associated with tax projects/audits and costs consisting of  professional consulting or other fees relating to any of the foregoing; plus                 (f)   any other non-cash losses, charges and expenses, including any write offs or write  downs, reducing Consolidated Net Income for such period (provided that if any such non-cash charges   represent an accrual or reserve for potential cash items in any future period, (i) such Person may determine   not to add back such non-cash charge in the period for which Consolidated EBITDA is being calculated  and (ii) to the extent such Person does decide to add back such non-cash charge, the cash payment in respect   thereof in such future period shall be subtracted from Consolidated EBITDA to such extent, and excluding   amortization of a prepaid cash item that was paid in a prior period); plus                (g)   the amount of any non-controlling interest expense consisting of income  attributable to non-controlling equity interests of third parties in any non-Wholly Owned Subsidiary of the  Company Borrower deducted (and not added back) in such period in calculating Consolidated Net Income;  plus                (h)   the amount of management, monitoring, consulting, transaction and advisory fees  (including termination fees) and related expenses paid or accrued in such period to the Permitted Investors  to the extent otherwise permitted under Section 6.5 to the extent deducted (and not added back) in   computing Consolidated Net Income; plus                (i)   the amount of cost savings, operating expense reductions, restructuring and  integration charges and expenses and synergies that are expected to be realized as a result of actions taken  or expected to be taken within 24 months after the date of any acquisition, divestiture or disposition,  restructuring or the implementation of an initiative, as applicable (calculated on a pro forma basis as though  such cost savings, operating expense reductions, restructuring and integration charges and expenses and  synergies had been realized on the first day of such period as if such cost savings, operating expense  reductions, restructuring and integration charges and expenses and synergies were realized during the  entirety of such period), net of the amount of actual benefits realized during such period from such actions;  provided that (A) such actions are to be taken within 24 months after the consummation of the acquisition,   divestiture or disposition, restructuring or the implementation of an initiative, as applicable, which is   expected to result in cost savings, operating expense reductions, restructuring and integration charges and   expenses or synergies, and (B) no cost savings, operating expense reductions, restructuring and integration   charges and expenses or synergies shall be added pursuant to this defined term to the extent duplicative of   any expenses or charges otherwise added to Consolidated EBITDA, whether through a pro forma   adjustment or otherwise, for such period; plus                (j)   any costs or expenses incurred by the Company Borrower or a Restricted  Subsidiary thereof or any direct or indirect parent thereof pursuant to any management equity plan or stock                                         -15-        

 

     option plan or any other management or employee benefit plan or agreement or any stock subscription or   shareholder agreement, to the extent that such costs or expenses are funded with cash proceeds contributed   to the capital of the Company Borrower or net cash proceeds of an issuance of Equity Interest of the   Company Borrower (other than Disqualified Stock) solely to the extent that such net cash proceeds are   excluded from the calculation set forth in Section 6.2(a)(3), to the extent deducted (and not added back) in   computing Consolidated Net Income; plus                (k)   the tax effect of any items excluded from the calculation of Consolidated Net   Income pursuant to clauses (1), (3), (4) and (8) of the definition thereof; plus                (l)   earn-out obligations incurred in connection with any Permitted Acquisition or  other Investment permitted hereunder and paid or accrued during such period; plus                (m)   reset costs in connection with operations in new locations and facility start-up costs   associated with the opening of new manufacturing locations; plus                (n)   [Reserved]; plus                (o)   [Reserved]; plus                (p)   the amount of loss or discount on sale of receivables, Receivables Assets and  related assets to the Receivables Subsidiary in connection with a Receivables Facility; plus                (q)   any net pension or other post-employment benefit costs representing amortization  of unrecognized prior service costs, actuarial losses, including amortization of such amounts arising in  prior periods, amortization of the unrecognized net obligation (and loss or cost) existing at the date of  initial application of Financial Accounting Standards Codification No. 715 (and related or successor  interpretations), and any other items of a similar nature; plus                 (r)   losses from discontinued operations; plus                (s)   unrealized losses due to foreign exchange adjustments (including, without  limitation, losses and expenses in connection with the effect of currency and exchange rate fluctuations);  plus                (2)   decreased by (without duplication) non-cash gains increasing Consolidated Net   Income of such Person for such period, excluding any non-cash gains to the extent they represent the   reversal of an accrual or reserve for a potential cash item that reduced Consolidated EBITDA in any prior   period; and                (3)   increased (by losses) or decreased (by gains) by (without duplication) the   application of FASB Interpretation No. 45 (Guarantees) (and related or successor interpretations).                “Consolidated Interest Expense”: with respect to any Person and its Restricted Subsidiaries   for any period, the sum, without duplication, of                (1)   consolidated interest expense of such Person and its Restricted Subsidiaries for  such period, to the extent such expense was deducted (and not added back) in computing Consolidated Net  Income (including (a) amortization of original issue discount resulting from the issuance of Indebtedness  at less than par, (b) all commissions, discounts and other fees and charges owed with respect to letters of  credit or bankers acceptances, (c) non-cash interest payments (but excluding any non-cash interest expense                                         -16-        

 

     attributable to the movement in the mark to market valuation of Hedging Obligations or other derivative   instruments pursuant to GAAP), (d) the interest component of Capitalized Lease Obligations, and (e) net   payments and receipts (if any) pursuant to interest rate Hedging Obligations with respect to Indebtedness,   and excluding (r) any prepayment premium or penalty, (s) costs associated with obtaining Hedging   Obligations and breakage costs in respect of Hedging Obligations related to interest rates, (t) any expense   resulting from the discounting of any Indebtedness in connection with the application of purchase or   recapitalization accounting, (u) penalties and interest relating to taxes, (v) any “additional interest” or   “penalty interest” with respect to any securities, (w) any accretion or accrued interest of discounted   liabilities, (x) amortization of deferred financing fees, amendment or consent fees, debt issuance costs,   commissions, fees and expenses, (y) any expensing of bridge, commitment and other financing fees and (z)   commissions, discounts, yield and other fees and charges (including any interest expense) related to any   Receivables Facility; plus                (2)   consolidated capitalized interest of such Person and its Restricted Subsidiaries for  such period, whether paid or accrued; less                (3)   interest income for such period;                provided that, for purposes of calculating Consolidated Interest Expense, no effect shall be   given to the discount and/or premium resulting from the bifurcation of derivatives under FASB ASC 815   and related or successor interpretations as a result of the terms of the Indebtedness to which such   Consolidated Interest Expense relates.                For purposes of this definition, interest on a Capitalized Lease Obligation shall be deemed  to accrue at an interest rate reasonably determined by the Company Borrower to be the rate of interest  implicit in such Capitalized Lease Obligation in accordance with GAAP.                Notwithstanding the foregoing, any additional charges arising from (i) the application of  Accounting Standards Codification Topic 480-10-25-4 “Distinguishing Liabilities from Equity—  Overall—Recognition” (and related or successor interpretations) to any series of Preferred Stock other than  Disqualified Stock or (ii) the application of Accounting Standards Codification Topic 470-20 “Debt—Debt   with Conversion Options—Recognition” (and related or successor interpretations) in each case, shall be   disregarded in the calculation of Fixed Charges.                “Consolidated Net Income”: with respect to the Company Borrower and its Restricted   Subsidiaries for any period, the aggregate of the Net Income of the Company Borrower and its Restricted   Subsidiaries for such period, on a consolidated basis, and otherwise determined in accordance with GAAP;   provided, however, that, without duplication:                (1)   any after-tax effect of extraordinary, non-recurring, non-operating or unusual  gains, losses, income or expenses (including all fees and expenses relating thereto) (including costs and  expenses relating to the Transactions), severance, relocation costs, contract termination costs, system  establishment charges, consolidation and closing costs, integration and facilities opening costs, business  optimization costs, transition costs, restructuring costs, signing, retention or completion bonuses and  curtailments or modifications to pension and post-retirement employee benefit plans and any fees, expenses,  charges or change in control payments related to any acquisition or Permitted Investment (including any  transition-related expenses (including retention or transaction-related bonuses or payments) incurred   before, on or after Amendment No. 4 Effective Date) shall be excluded,                (2)   the cumulative effect of a change in accounting principles and changes as a result   of the adoption or modification of accounting policies during such period, whether effected through a                                         -17-        

 

     cumulative effect adjustment or a retroactive application in each case in accordance with GAAP, shall be   excluded,                (3)   any net after-tax effect of income or loss from disposed, abandoned or discontinued   operations and any net after-tax gains or losses on disposal of disposed, abandoned, transferred, closed or   discontinued operations shall be excluded,                (4)   any net after-tax effect of gains or losses (including all fees and expenses relating   thereto) attributable to business dispositions or asset dispositions or the sale or other disposition of any   Capital Stock of any Person other than in the ordinary course of business, as determined in good faith by   the Company Borrower, shall be excluded,                (5)   the 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 (other than a  Guarantor), shall be excluded; provided that (i) the Consolidated Net Income of the Company Borrower   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 referent Person or a Restricted Subsidiary thereof in respect  of such period and (ii) the Consolidated Net Income for such period will include any ordinary course  dividends or distributions or other payments paid in cash (or converted into cash) with respect to such equity  ownership received from any such Person during such period in excess of the amounts included in subclause  (i) above,                (6)   solely for the purpose of the definition of Excess Cash Flow and determining the  amount available for Restricted Payments under Section 6.2(a)(3)(A), the Net Income for such period of   any Restricted Subsidiary of the Company Borrower (other than any Guarantor) 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, other than (i) restriction with respect to the payment of dividends   or similar distributions that have been legally waived, (ii) restrictions pursuant to the Senior Notes, the  Senior Notes Indenture or the ABL Credit Agreement and (c) restrictions specified under Section 6.3(L),  provided that Consolidated Net Income of the Company Borrower 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 Borrower or any Restricted Subsidiary thereof in   respect of such period, to the extent not already included therein,                (7)   effects of adjustments (including the effects of such adjustments pushed down to  the Company Borrower and its Restricted Subsidiaries) in such Person’s consolidated financial statements  pursuant to GAAP and related authoritative pronouncements resulting from the application of purchase  accounting, fair value accounting or recapitalization accounting in relation to any consummated acquisition  or Investment or the amortization or write-off of any amounts thereof, net of taxes, shall be excluded,                (8)   any net after-tax income (loss) from the early extinguishment of (i) Indebtedness,   (ii) Hedging Obligations or (iii) other derivative instruments, in each case, including deferred financing   costs written off and premiums paid, shall be excluded,                (9)   any impairment charge or expense or asset write-off or write-down, including   impairment charges or asset write-offs or write-downs related to intangible assets, long-lived assets or   investments in debt and equity securities or as a result of a change in law or regulations, in each case,   pursuant to GAAP and the amortization of intangibles arising pursuant to GAAP shall be excluded,                                         -18-        

 

                 (10)  any (i) non-cash compensation charge or expense, including any such charge  arising from grants of stock appreciation or similar rights, stock options, restricted stock or other rights, and  any cash charges associated with the rollover, acceleration or payout of Equity Interests by management of  the Company Borrower or any of its direct or indirect parent companies, including any expense resulting  from the application of Statement of Financial Accounting Standards No. 123R (and related or successor  interpretations), (ii) income (loss) attributable to deferred compensation plans or trusts and (iii)  expense  required to be recorded as compensation expense related to contingent transaction consideration shall be  excluded, provided that any subsequent settlement in cash shall reduce Consolidated Net Income for the   period in which such payment occurs,                (11)  any fees and expenses incurred during such period, or any amortization thereof for  such period, in connection with any acquisition, Investment, Asset Sale, issuance or repayment of  Indebtedness, Equity Offering, refinancing transaction or amendment or modification of any debt  instrument (in each case, including any such transactions consummated prior to the Closing Date and any  such transaction undertaken but not completed) and any charges or non-recurring merger or amalgamation  costs incurred during such period as a result of any such transaction, in each case, whether or not successful,  shall be excluded,                (12)  accruals and reserves that are established or adjusted as a result of an Investment  permitted under this Agreement in accordance with GAAP (including any adjustment or estimated payouts  or earn-outs) or changes as a result of the adoption or modification of accounting policies during such period  shall be excluded,                (13)  non-cash charges or income related to adjustments to deferred tax asset valuation  allowances shall be excluded,                (14)  any charges resulting from the application of Accounting Standards Codification  Topic 805 “Business Combinations,” Accounting Standards Codification Topic 350 “Intangibles— Goodwill and Other,” Accounting Standards Codification Topic 360-10-35-15 “Impairment or Disposal of  Long-Lived Assets,” Accounting Standards Codification Topic 480-10-25-4 “Distinguishing Liabilities  from Equity—Overall—Recognition” or Accounting Standards Codification Topic 820 “Fair Value  Measurements and Disclosures” (and in each case, including any related or successor interpretations) shall  be excluded,               (15)  non-cash interest expense resulting from the application of Accounting Standards  Codification Topic 470-20 “Debt—Debt with Conversion Options—Recognition” (and related or successor  interpretations) shall be excluded,               (16) any net pension costs or other post-employment benefit costs representing  amortization of unrecognized prior service costs, actuarial losses, including amortization of such amounts  arising in prior periods, amortization of the unrecognized net obligation (and loss or cost) existing at the  date of initial application of Financial Accounting Standards Codification Topic 712 “Compensation— Nonretirement Postemployment Benefits” (and related or successor interpretations) and Financial  Accounting Standards Codification Topic 715 “Compensation—Retirement Benefits,” and any other  non-cash items of a similar nature (and related or successor interpretations), shall be excluded,               (17) all amortization and write-offs of deferred financing fees, debt issuance costs,  commissions, fees and expenses, costs of surety bonds, charges owed with respect to letters of credit,  bankers’ acceptances or similar facilities, and expensing of any bridge, commitment or other financing fees  (including in connection with a transaction undertaken but not completed) shall be excluded,                                          -19-        

 

                 (18) all discounts, commissions, fees and other charges (including interest expense)  associated with any Receivables Facility shall be excluded,                (19)  the following items shall be excluded:                (a)   all non-cash gains, losses, expenses or charges attributable to the movement in the  mark-to-market valuation of Indebtedness, Hedging Obligations or other derivative instruments will be  excluded; and                (b)   any net unrealized gain or loss (after any offset) resulting in such period from  currency translation gains or losses related to currency re-measurements of Indebtedness (including any net  loss or gain resulting from hedge agreements for currency exchange risk);                provided that the Company Borrower may, in its sole discretion, elect to not make any   adjustment for any item pursuant to clauses (1) through (19) above if any such item individually is less than   $1,000,000 in any fiscal quarter.                In addition, to the extent not already accounted for in the Consolidated Net Income of such  Person and its Restricted Subsidiaries, notwithstanding anything to the contrary in the foregoing,  Consolidated Net Income shall include (i) the amount of proceeds received during such period from  business interruption insurance in respect of insured claims for such period, (ii) the amount of proceeds as  to which the Company Borrower has determined that there is a reasonable basis it will be reimbursed by  the insurer in respect of such period from business interruption insurance (with a deduction for any amount  so added back to the extent denied by the applicable carrier (without any right of appeal thereof) in writing  within 180 days or not so reimbursed within 365 days) and (iii) reimbursements of any expenses, charges,  losses or lost profits that are covered by indemnification or other reimbursement provisions in connection  with any Permitted Investment or any sale, conveyance, transfer or other disposition of assets permitted  hereunder.                Notwithstanding the foregoing, (x) for the purpose of Section 6.2 only (other than clauses   (a)(3)(E) and (a)(3)(F) therein), there shall be excluded from Consolidated Net Income any income arising   from any sale or other disposition of Restricted Investments made by the Company Borrower and its   Restricted Subsidiaries, any repurchases and redemptions of Restricted Investments from the Company   Borrower and its Restricted Subsidiaries, any repayments of loans and advances which constitute Restricted   Investments by the Company Borrower or any of its Restricted Subsidiaries, any sale or other disposition   of the stock of an Unrestricted Subsidiary or any distribution or dividend from an Unrestricted Subsidiary,   in each case only to the extent such amounts increase the amount of Restricted Payments permitted under   such covenant pursuant to clauses (a)(3)(E) and (a)(3)(F) therein and (y) for the purpose of the definition   of Excess Cash Flow only, there shall be excluded the income (or deficit) of any Person accrued prior to   the date it becomes a Restricted Subsidiary of the Company Borrower or is merged into or consolidated   with the Company Borrower or any Restricted Subsidiary thereof.                “Consolidated Non-Cash Charges”: with respect to the Company Borrower and its   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 or recapitalization accounting of the Company Borrower’s  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 any other non-cash losses, charges and expenses, including any write-offs   or write-downs, of such Person and its Restricted Subsidiaries reducing Consolidated Net Income of such                                         -20-        

 

     Person for such period on a consolidated basis and otherwise determined in accordance with GAAP;   provided that if any non-cash charges referred to in this definition represent an accrual or reserve for   potential cash items in any future period, the cash payment in respect thereof in such future period shall be   subtracted from Consolidated EBITDA in such future period to such extent paid.                “Consolidated Total Debt”:  as of any date of determination, the aggregate principal   amount of Indebtedness described in clauses (1)(a), (1)(b) and (1)(d) of the definition of “Indebtedness” of   the Company Borrower and its Restricted Subsidiaries outstanding on such date, determined on a   consolidated basis, to the extent required to be recorded on a balance sheet in accordance with GAAP,   including, without duplication, the outstanding principal amount of the Loans; provided, that (x) the amount   of any revolving credit facility shall be computed based upon the period-ending value of such Indebtedness   during the applicable period and (y) for the avoidance of doubt, undrawn letters of credit shall not be   included.                “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.                “Contingent Obligations”: with respect to any Person, any obligation of such Person   guaranteeing any leases, dividends or other obligations that do not constitute Indebtedness (“primary   obligations”) of any other Person (the “primary obligor”) in any manner, whether directly or indirectly,   including, any obligation of such Person, whether or not contingent:                (1)   to purchase any such primary obligation or any property constituting direct or  indirect security therefore,               (2)   to advance or supply funds:               (a)   for the purchase or payment of any such primary obligation; or               (b)   to maintain working capital or equity capital of the primary obligor or otherwise  to maintain the net worth or solvency of the primary obligor; or               (3)   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 against loss in respect thereof.                “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.                “Contribution Indebtedness”: Indebtedness of the Borrower or any Guarantor in an   aggregate principal amount not greater than the aggregate amount of cash contributions (other than   Excluded Contributions or any such cash contributions that have been used to make a Restricted Payment)   made to the capital of the Borrower after the Closing Date, provided that:                                          -21-        

 

                 (1)   such Contribution Indebtedness is so designated as Contribution Indebtedness  pursuant to an Officer’s Certificate on the Incurrence date thereof; and                (2)   such Contribution Indebtedness (a) is Incurred within 210 days after the making of  such cash contributions and (b) is so designated as Contribution Indebtedness pursuant to an Officer’s  Certificate on the Incurrence date thereof.                “Control”:  the possession, directly or indirectly, of the power to direct or cause the   direction of the management or policies of a Person, whether through the ability to exercise voting power,   by contract or otherwise.  “Controlling” and “Controlled” have meanings correlative thereto.                “Control Investment Affiliate”:  as to any Person, any other Person that (a) directly or   indirectly, is in Control of, is Controlled by, or is under common Control with, such Person and (b) is   organized by such Person primarily for the purpose of making equity or debt investments in one or more   companies.                “Debt Fund Affiliate”:  an Affiliate of the Sponsor (other than Holdings or a Subsidiary of   Holdings) that is a bona fide debt fund or an investment vehicle that is engaged in the making, purchasing,   holding or otherwise investing in commercial loans, bonds and similar extensions of credit in the ordinary   course of business and which is not managed on a day to day basis by Persons responsible for the   management of the Company Borrower on a day to day basis.                “Debtor Relief Laws”:  the Bankruptcy Code of the United States, and all other liquidation,   conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium, rearrangement,   receivership, insolvency, reorganization, or similar debtor relief laws of the United States or other   applicable jurisdictions from time to time in effect and affecting the rights of creditors generally.                “Declined Proceeds”:  as defined in Section 2.6(e).                “Default”:  any of the events specified in Section 8.1, whether or not any requirement for   the giving of notice, the lapse of time, or both, has been satisfied.                “Defaulting Lender”:   any Lender that (a) has refused (whether verbally or in writing) to   fund (and has not retracted such refusal), or has failed to fund, any portion of the Loans required to be   funded by it hereunder (collectively, its “Funding Obligations”) within one (1) Business Day of the date   required to be funded by such Lender hereunder unless such Lender notifies the Administrative Agent and   the Company Borrower in writing that such failure is the result of such Lender’s determination that one or   more conditions precedent to funding (each of which conditions precedent, together with any applicable   default, shall be specifically identified in such writing), (b) has notified the Administrative Agent or a Loan   Party in writing that it does not intend to (or will not be able to) satisfy such Funding Obligations or has   made a public statement to that effect with respect to its Funding Obligations or under any other agreement   in which it commits to extend credit (unless such writing or public statement relates to such Lender’s   obligation to fund a Loan hereunder and states that such position is based on such Lender’s determination   that a condition precedent to funding (which condition precedent, together with any applicable default, shall   be specifically identified in such writing or public statement) cannot be satisfied), (c) has otherwise failed   to pay over to the Administrative Agent or any other Lender any other amount required to be paid by it   hereunder within one (1) Business Day of the date when due, (d) has failed, within three (3) Business Days   after written request by the Administrative Agent, to confirm in a manner reasonably satisfactory to the   Administrative Agent that it will comply with its Funding Obligations; provided that such Lender shall   cease to be a Defaulting Lender pursuant to this clause (d) upon the Administrative Agent’s receipt of such   confirmation, or (e) has, or has a direct or indirect parent company that has, (i) admitted in writing that it is                                         -22-        

 

     insolvent or pay its debts as they become due, (ii) become the subject of a proceeding under any Debtor   Relief Law, (iii) had a receiver, conservator, trustee, administrator, assignee for the benefit of creditors or   similar Person charged with reorganization or liquidation of its business or a substantial part of its assets or  a custodian appointed for it, (iv) is or becomes subject to (A) a forced liquidation or (B) a Bail-In Action,   (v) makes a general assignment for the benefit of creditors or is otherwise adjudicated as, or determined by   any governmental authority having regulatory authority over such person or its assets to be insolvent or   bankrupt or (vi) taken any action in furtherance of, or indicated its consent to, approval of or acquiescence   in any such proceeding or appointment or action; provided that a Lender shall not be a Defaulting Lender   solely by virtue of the ownership or acquisition of any equity interest in that Lender or any direct or indirect   parent company thereof by a Governmental Authority.                “Designated Earlier Maturing Debt” means any (i) Incremental Facility, (ii) any Permitted   Credit Agreement Refinancing Debt and/or (iii) other Indebtedness designated by the Borrower to the   Administrative Agent that has a maturity date earlier than the Maturity Date and/or a shorter Weighted   Average Life to Maturity than the remaining Term B-4 Loans; provided that at the time of any incurrence   of such Indebtedness, the aggregate principal amount of all such Indebtedness shall not exceed $50,000,000.                “Designated Non-Cash Consideration”:  the Fair Market Value of non-cash consideration   received by the Company Borrower or one of its Restricted Subsidiaries in connection with an Asset Sale   that is designated as Designated Non-Cash Consideration pursuant to an Officer’s Certificate, setting forth   the basis of such valuation, less the amount of Cash Equivalents received in connection with a subsequent   sale of or collection on such Designated Non-Cash Consideration.                “Designated Preferred Stock”: Preferred Stock of the Company Borrower or any direct or   indirect parent of the Company Borrower, as applicable (other than Disqualified Stock), that is issued for   cash (other than to the Company Borrower or any of the Subsidiaries or an employee stock ownership plan   or trust established by the Company Borrower or any of the Subsidiaries) and is so designated as Designated   Preferred Stock, pursuant to an Officer’s Certificate, on the issuance date thereof, the cash proceeds of   which are excluded from the calculation set forth in Section 6.2(a)(3).                “Disposition”:  with respect to any property (including Capital Stock of the Borrower or   any Restricted Subsidiary thereof), any sale, lease, Sale Leaseback Transaction, assignment, conveyance,   transfer or other disposition thereof (including by merger or consolidation or amalgamation and excluding   the granting of a Lien permitted hereunder) and any issuance of Capital Stock of any Restricted Subsidiary   of the Company Borrower.  The terms “Dispose” and “Disposed of” shall have correlative meanings.                “Disposition Percentage”:  as defined in Section 2.6(c).                “Disqualified Lenders” shall mean, at any time, those Persons previously identified in   writing by the Company Borrower to the Administrative Agent as such list may be updated from time to   time solely with respect to any competitor of the Company Borrower and its Subsidiaries following the   Closing Date.  The list of Disqualified Lenders shall be made available to all Lenders at all times.                  “Disqualified Stock”:  any Capital Stock of such Person that, by its terms (or by the terms   of any security into which it is convertible or for which it is redeemable or exchangeable, in each case at   the option of the holder thereof), or upon the happening of any event:                (1)   matures or is mandatorily redeemable, pursuant to a sinking fund obligation or   otherwise (other than 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                                         -23-        

 

     prepayment requirement triggered thereby may not become operative until compliance with the asset sale   and change of control provisions applicable to this Facility),                (2)   is convertible or exchangeable for Indebtedness or Disqualified Stock, or                (3)   is redeemable at the option of the holder thereof (other than as a result of a change  of control or asset sale), in whole or in part, in each case prior to 91 days after the maturity date of the  Facility; provided, however, that only the portion of Capital Stock that so matures or is mandatorily   redeemable, is so convertible or exchangeable or is so redeemable at the option of the holder thereof prior   to such date shall be deemed to be Disqualified Stock; provided, further, however, that if such Capital Stock   is issued to any plan for the benefit of employees of the Company Borrower or its Subsidiaries or by any   such plan to such employees, such Capital Stock shall not constitute Disqualified Stock solely because it   may be required to be repurchased by the Company Borrower or its Subsidiaries in order to satisfy   applicable statutory or regulatory obligations; provided, further, however, that any Capital Stock held by   any future, current or former employee, director, manager or consultant (or their respective trusts, estates,   investment funds, investment vehicles or immediate family members), of the Company Borrower, any of   its Subsidiaries, any of its direct or indirect parent companies or any other entity in which the Company  Borrower or a Restricted Subsidiary thereof has an Investment and is designated in good faith as an  “affiliate” by the board of directors of the Company Borrower (or the compensation committee thereof), in  each case pursuant to any stockholders’ agreement, management equity plan, stock option plan or any other  management or employee benefit plan or agreement shall not constitute Disqualified Stock solely because  it may be required to be repurchased by Holdings, the Company Borrower or its subsidiaries; provided,   further, however, that any class of Capital Stock of such Person that by its terms authorizes such Person to   satisfy its obligations thereunder by delivery of Capital Stock that is not Disqualified Stock shall not be   deemed to be Disqualified Stock.                “Dollar” and “$”:  lawful money of the United States.                “Domestic Subsidiary”:  any Subsidiary of the Company Borrower organized under the   laws of the United States, any state within the United States or the District of Columbia.                “Dutch Auction”:  one or more purchases (each, a “Purchase”) by a Permitted Auction   Purchaser or an Affiliated Lender (either, a “Purchaser”) of Loans; provided that, each such Purchase is   made on the following basis:                      (a)   (i) the Purchaser will notify the Administrative Agent in writing (a        “Purchase Notice”) (and the Administrative Agent will deliver such Purchase Notice to each         relevant Lender) that such Purchaser wishes to make an offer to purchase from each Lender and/or        each Lender with respect to any Class of Loans on an individual tranche basis Loans, in an        aggregate principal amount as is specified by such Purchaser (the “Loan Purchase Amount”) with         respect to each applicable tranche, subject to a range or minimum discount to par expressed as a         price at which range or price such Purchaser would consummate the Purchase (the “Offer Price”)         of such Loans to be purchased (it being understood that different Offer Prices and/or Loan Purchase         Amounts, as applicable, may be offered with respect to different tranches of Loans and, in such an         event, each such offer will be treated as a separate offer pursuant to the terms of this definition);         provided that the Purchase Notice shall specify that each Return Bid (as defined below) must be         submitted by a date and time to be specified in the Purchase Notice, which date shall be no earlier         than the second Business Day following the date of the Purchase Notice and no later than the fifth         Business Day following the date of the Purchase Notice and (ii) the Loan Purchase Amount         specified in each Purchase Notice delivered by such Purchaser to the Administrative Agent shall         not be less than $10,000,000 in the aggregate;                                        -24-        

 

                     (b)   such Purchaser will allow each Lender holding the Class of Loans subject       to the Purchase Notice to submit a notice of participation (each, a “Return Bid”) which shall specify        (i) one or more discounts to par of such Lender’s tranche or tranches of Loans subject to the        Purchase Notice expressed as a price (each, an “Acceptable Price”) (but in no event will any such        Acceptable Price be greater than the highest Offer Price for the Purchase subject to such Purchase        Notice) and (ii) the principal amount of such Lender’s tranches of Loans at which such Lender is        willing to permit a purchase of all or a portion of its Loans to occur at each such Acceptable Price        (the “Reply Amount”);                     (c)   based on the Acceptable Prices and Reply Amounts of the Loans as are       specified by the Lenders, the Administrative Agent in consultation with such Purchaser, will       determine the applicable discount (the “Applicable Discount”) which will be the lower of (i) the        lowest Acceptable Price at which such Purchaser can complete the Purchase for the entire Loan        Purchase Amount and (ii) in the event that the aggregate Reply Amounts relating to such Purchase        Notice are insufficient to allow such Purchaser to complete a purchase of the entire Loan Purchase        Amount or the highest Acceptable Price that is less than or equal to the Offer Price;                     (d)   such Purchaser shall purchase Loans from each Lender with one or more       Acceptable Prices that are equal to or less than the Applicable Discount at the Applicable Discount       (such Loans being referred to as “Qualifying Loans” and such Lenders being referred to as        “Qualifying Lenders”), subject to clauses (e), (f), (g) and (h) below;                     (e)   such Purchaser shall purchase the Qualifying Loans offered by the       Qualifying Lenders at the Applicable Discount; provided that if the aggregate principal amount        required to purchase the Qualifying Loans would exceed the Loan Purchase Amount, such        Purchaser shall purchase Qualifying Loans ratably based on the aggregate principal amounts of all        such Qualifying Loans tendered by each such Qualifying Lender;                     (f)   the Purchase shall be consummated pursuant to and in accordance with       Section 10.6(b) and, to the extent not otherwise provided herein, shall otherwise be consummated        pursuant to procedures (including as to timing, rounding and minimum amounts, Interest Periods,        and other notices by such Purchaser) reasonably acceptable to the Administrative Agent (provided        that, subject to the proviso of clause (g) of this definition, such Purchase shall be required to be        consummated no later than five Business Days after the time that Return Bids are required to be        submitted by Lenders pursuant to the applicable Purchase Notice);                     (g)   upon submission by a Lender of a Return Bid, subject to the foregoing       clause (f), such Lender will be irrevocably obligated to sell the entirety or its pro rata portion (as        applicable pursuant to clause (e) above) of the Reply Amount at the Applicable Discount plus        accrued and unpaid interest through the date of purchase to such Purchaser pursuant to Section        10.6(b) and as otherwise provided herein; provided that as long as no Return Bids have been        submitted each Purchaser may rescind its Purchase Notice by notice to the Administrative Agent;        and                     (h)   purchases by a Permitted Auction Purchaser of Qualifying Loans shall       result in the immediate Cancellation of such Qualifying Loans.               “EEA Financial Institution” shall mean (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                                        -25-      

 

     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.                “EEA Member Country” shall mean any of the member states of the European Union,   Iceland, Liechtenstein, and Norway.                “EEA Resolution Authority” shall mean 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.                “ECF Percentage”:  50%; provided that the ECF Percentage shall be reduced to (i) 25% if   the Total Net First Lien Leverage Ratio as of the last day of such fiscal year is less than or equal to 3.50 to   1.00 and greater than 3.00 to 1.00 and (ii) 0% if the Total Net First Lien Leverage Ratio as of the last day   of such fiscal year is less than or equal to 3.00 to 1.00.                “Eligible Assignee”:  (a) any Lender, any Affiliate of a Lender and any Approved Fund   (any two or more Approved Funds with respect to a particular Lender being treated as a single Eligible   Assignee for all purposes hereof), and (b) any commercial bank, insurance company, financial institution,  investment or mutual fund or other entity that is an “accredited investor” (as defined in Regulation D under  the Securities Act) and which extends credit or buys commercial loans in the ordinary course; provided that   “Eligible Assignee” (x) shall include (i) Debt Fund Affiliates and Affiliated Lenders, subject to the   provisions of Section 10.6(b)(iv) and (ii) Permitted Auction Purchasers, subject to the provisions of Section   10.6(b)(iii), and solely to the extent that such Permitted Auction Purchasers purchase or acquire Loans   pursuant to a Dutch Auction and effect a Cancellation immediately upon such contribution, purchase or   acquisition pursuant to documentation reasonably satisfactory to the Administrative Agent and (y) shall not   include (1) any Disqualified Lender, (2) any natural person or (3) the Company Borrower, Holdings or any   Affiliate (other than as set forth in this definition) of the Company Borrower or Holdings.                “Engagement Letter”:  the engagement letter, dated as of September 8, 2014, among the   Administrative Agent, the Joint Lead Arrangers and the Company Borrower.                “Environmental Laws”:  any and all foreign, Federal, state, local or municipal laws, rules,   orders, regulations, statutes, ordinances, codes, decrees, requirements of any Governmental Authority or   other Requirements of Law (including common law) regulating, relating to or imposing liability or   standards of conduct concerning Materials of Environmental Concern,  human health and safety with   respect to exposure to Materials of Environmental Concern, and protection or restoration of the environment   as now or may at any time hereafter be in effect.                “Equity Interests”: Capital Stock and all warrants, options or other rights to acquire Capital   Stock (but excluding any debt security that is convertible into, or exchangeable for, Capital Stock).                “Equity Offering”: any public or private sale after the Closing Date of common stock or   Preferred Stock of the Company Borrower or any direct or indirect parent of the Company Borrower, as   applicable (other than Disqualified Stock), other than:                (1)   public offerings with respect to such Person’s common stock registered on Form  S-8;                (2)   an issuance to any Restricted Subsidiary of the Company Borrower; and                (3)   any such public or private sale that constitutes an Excluded Contribution.                                         -26-        

 

                 “ERISA”: the Employee Retirement Income Security Act of 1974, as amended from time   to time, and the rules and regulations promulgated thereunder.                “EU Bail-In Legislation Schedule” shall mean the EU Bail-In Legislation Schedule   published by the Loan Market Association (or any successor person), as in effect from time to time.                “Eurodollar Loans”:  Loans the rate of interest applicable to which is based upon the   Eurodollar Rate.                “Eurodollar Rate”:  shall mean, with respect to any credit extension                (a)   the rate per annum equal to the London Interbank Offered Rate (“LIBOR”) quote   on the applicable screen page the Administrative Agent designates to determine LIBOR (or such other   commercially available source providing such quotations as may be designated by the Administrative Agent   from time to time) (the “LIBOR Screen Rate”) at approximately 11:00 A.M., London time, two Business   Days prior to the commencement of such Interest Period, for deposits in the relevant currency (for delivery   on the first day of such Interest Period) with a term equivalent to such Interest Period; provided, however   that the Eurodollar Rate shall not be less zero; and                (b)   for any rate calculation with respect to a ABR Loan on any date, the rate per annum  equal to LIBOR, at or about 11:00 A.M., London time determined two Business Days prior to such date for  Dollar deposits with a term of one month commencing that day;   provided that to the extent a comparable or successor rate is approved by the Administrative Agent in  connection with any rate set forth in this definition, the approved rate shall be applied in a manner consistent  with market practice; provided, further that to the extent such market practice is not administratively  feasible for the Administrative Agent, such approved rate shall be applied in a manner as otherwise  reasonably determined by the Administrative Agent.                 “Eurodollar Tranche”:  the collective reference to Eurodollar 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 Section 8.1; provided that any   requirement for the giving of notice, the lapse of time, or both, has been satisfied.                “Excess Cash Flow”:  for any Excess Cash Flow Period:                (a)   the sum, without duplication, of                      (i)   Consolidated Net Income for such Excess Cash Flow Period,                      (ii) the amount of all non-cash charges (including depreciation and  amortization and reserves for future expenses) deducted in arriving at such Consolidated Net Income,                     (iii) the Consolidated Working Capital Adjustment for such Excess Cash Flow  Period,                      (iv)  the aggregate net amount of non-cash loss on the Disposition of property   by the Company Borrower and the Restricted Subsidiaries during such Excess Cash Flow Period (other                                         -27-        

 

     than sales in the ordinary course of business), to the extent deducted in arriving at such Consolidated Net  Income,                     (v)   the amount of tax expense 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 Agreements during such Excess Cash   Flow Period to the extent not otherwise included in Consolidated Net Income, minus                (b)   the sum, without duplication, of                      (i)   the amount of all non-cash credits included in arriving at such   Consolidated Net Income,                      (ii)  the aggregate amount actually paid by the Company Borrower and its   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   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) without duplication of amounts deducted in prior periods, capital   expenditures, Permitted Acquisitions and other Permitted Investments that any Company Group Member   shall, during such Excess Cash Flow Period, become obligated to make (whether pursuant to binding   contracts, commitments, letters of intent, purchase orders or otherwise) but that are not made during such   Excess Cash Flow Period; provided, however, that if any such capital expenditure, Permitted Acquisition   or other Permitted Investment, as applicable, is not actually made in cash during the subsequent Excess   Cash Flow Period, such amount shall be added back to Excess Cash Flow for the subsequent Excess Cash   Flow Period,                      (iv)  to the extent not deducted in determining Consolidated Net Income,   Permitted Tax Distributions and taxes of any Company Group Member that were paid in cash during such   Excess Cash Flow Period,                      (v)   all mandatory prepayments of the Loans pursuant to Section 2.6 made   during such Excess Cash Flow Period as a result of 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,                      (vi)   the aggregate amount actually paid by the Company Borrower and its   Restricted Subsidiaries in cash during such Excess Cash Flow Period on account of Permitted Acquisitions   or other Permitted Investments (including any earn-out payments, but excluding (x) the principal amount   of Indebtedness incurred in connection with such expenditures other than Indebtedness under any revolving   credit facility and (y) the proceeds of equity contributions to, or equity issuances by, Holdings, which are   contributed to the Company Borrower to finance such expenditures),                      (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 Capitalized Lease Obligations to the extent not deducted in the  calculation of Consolidated Net Income),                                         -28-        

 

                       (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 the Specified Period for such Excess Cash Flow Period,                      (ix)  the aggregate net amount of non-cash gains on the Disposition of property   by the Company 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 proceeds of Indebtedness (other than any   revolving credit facility), the aggregate amount of all Investments made in cash pursuant to Section 6.2(a)   during such Excess Cash Flow Period,                      (xi)  any cash payments that are made during such Excess Cash Flow Period   and have the effect of reducing an accrued liability that was not accrued during such period,                      (xii) the amount of taxes paid in cash during such Excess Cash Flow Period to  the extent they exceed the amount of tax expense deducted in determining Consolidated Net Income for  such period,                      (xiii) (a) 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 6.2(b)(iv), (b)(v), (b)(vi), (b)(viii), (b)(xii), (b)(xiii), (b)(xxiii), (b)(xxiv) and (b)(xxv)   and (b) the proceeds from any Specified Dispositions to the extent Consolidated Net Income is increased   thereby,                      (xiv) the aggregate amount of any premium, make-whole or penalty payments   actually paid in cash by the Company 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,                      (xv)  cash expenditures in respect of Swap Agreements during such fiscal year   to the extent not deducted in arriving at such Consolidated Net Income,                      (xvi) the amount of cash payments made in respect of pensions and other post-  employment benefits in such period to the extent not deducted in arriving at such Consolidated Net Income,                      (xvii) the amount of cash and Cash Equivalents subject to cash collateral or other  deposit arrangements made with respect to Swap Agreements; provided, that if such cash and Cash   Equivalents cease to be subject to those arrangements, such amount shall be added back to Excess Cash   Flow for the subsequent Excess Cash Flow Period when such arrangements cease,                      (xviii) [Reserved],                       (xix) amounts added to Consolidated Net Income pursuant to clauses (1), (3),   (4) and (11) of the definition of “Consolidated Net Income,” and                      (xx)  amounts constituting “matching contributions” in respect of 401(k) plans   (or any similar plans) maintained by any Company Group Member that the Company Borrower shall,   during such Excess Cash Flow Period, determine in good faith to contribute or pay to employees of any                                         -29-        

 

     Company Group Member within the 120 day period following the end of such Excess Cash Flow Period;   provided, that if such payments or contributions are not actually paid or contributed in cash within 120 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;    provided, further, that Excess Cash Flow shall not be less than zero;                “Excess Cash Flow Application Date”:  as defined in Section 2.6(b).                “Excess Cash Flow Period”:  each fiscal year of the Company Borrower beginning with   the fiscal year ending December 31, 2018.                “Exchange Act”:  the Securities Exchange Act of 1934, as amended from time to time, and   any successor statute.                “Excluded Assets”:  shall mean (i) Non-Material Property and all leasehold interests in real   property where a Loan Party is a tenant, (ii) any vehicles and other assets subject to certificates of title   (other than to the extent perfection of the security interest in such assets is accomplished by the filing of   UCC financing statement), (iii) letter of credit rights (other than to the extent perfection of the security   interest therein is accomplished by the filing of UCC financing statement) and commercial tort claims in   an amount less than $10,000,000, (iv) any assets the granting of a security interest in which (A) is prohibited   by law (including restrictions in respect of margin stock and financial assistance, fraudulent conveyance,   preference, thin capitalization or other similar laws or regulations) or which would require governmental   (including regulatory) consent, approval, license or authorization to be pledged, (B) requires third-party   consents pursuant to a contractual obligation binding on such asset to the extent such contractual obligation   is in existence on the Closing Date or is in existence at the time of acquisition of such asset, in each case   provided that any such prohibition in such contractual obligation is not included by a Borrower or any of   its Restricted Subsidiaries for the purpose of taking advantage of the foregoing exclusion (after giving effect  to the applicable anti-assignment provisions of the UCC or other applicable law, the granting or assignment  of which is expressly deemed effective under the UCC or other applicable law notwithstanding any   applicable prohibition) or (C) results in material adverse Tax, accounting or regulatory consequences (as   reasonably determined by the Company Borrower in consultation with the Administrative Agent), (v)   Margin Stock, (vi) Capital Stock in any person other than wholly-owned restricted subsidiaries to the extent   not permitted (or permitted without consent) by the terms of such person’s organizational or joint venture   documents except to the extent such prohibition is rendered ineffective after giving effect to applicable   provisions of the Uniform Commercial Code, (vii) any assets where the cost (including costs attributable   to Taxes) or difficulty of obtaining a security interest in, or perfection of a security interest in, such assets   outweighs the practical benefit to the Lenders afforded thereby (as reasonably determined by both the   Company Borrower and the Administrative Agent (it being acknowledged that the maximum guaranteed   or secured amount may be limited to minimize stamp duty, notarization, registration or other applicable   fees, taxes and duties)), (viii) any governmental licenses or state or local franchises, charters and   authorizations, to the extent a security interest in any such license, franchise, charter or authorization is   prohibited or restricted thereby, (ix) any lease, license, agreement or other arrangement to the extent that a   grant of a security interest therein would (a) violate or invalidate such lease, license, agreement or other   arrangement or create a right of termination in favor of any other party thereto (other than a Borrower or a  Guarantor) or (b) require the consent of any person (other than a Loan Party), after giving effect to the  applicable anti-assignment provisions of the UCC or other applicable law, the assignment of which is  expressly deemed effective under the UCC or other applicable law notwithstanding such prohibition, (x)  (A) any intent-to-use trademark application prior to the filing of a “Statement of Use” or “Amendment to  Allege Use” with respect thereto, and (B) any other Intellectual Property, to the extent, if any, that, and  solely during the period, if any, in which, the grant of a security interest therein would impair the validity                                        -30-        

 

     or enforceability of such Intellectual Property under applicable federal law, (xi) any property subject to a  capital lease, purchase money security interest or, in the case of property of a Loan Party acquired after the  Closing Date, pre-existing secured indebtedness of such Loan Party not incurred in anticipation of the   acquisition by the applicable Loan Party, to the extent that the granting of a security interest in such property   would be prohibited under the terms of such capital lease, purchase money financing or secured   indebtedness, (xii) any Voting Stock of Unrestricted Subsidiaries and captive insurance companies, (xiii)   Voting Stock of a CFC Holdco or Foreign Subsidiary that is a CFC other than 65% of the total outstanding   Voting Stock of a CFC Holdco or CFC that, in each case, is directly owned by a Borrower or a Guarantor,   (xiv) [reserved], (xiv) any cash collateral pledged to secure the obligations of the Company Borrower under   the Existing Guarantee and (xv) the Specified Assets; provided that “Excluded Assets” shall not include (a)   any proceeds, products, substitutions or replacements of such property unless specifically excluded or (b)   any asset or property that any Loan Party has granted a Lien on or security interest in to secure the   obligations under the ABL Credit Agreement. In addition, for the avoidance of doubt, no actions in any   jurisdiction outside the United States shall be required in order to create any security interests in assets   located or titled outside of the United States, or to perfect any security interests in such assets, including   any intellectual property registered or applied-for in any jurisdiction outside the United States (it being   understood that there shall be no security agreements or pledge agreements governed under the laws of any   jurisdiction outside the United States) and in no event shall perfection by control or similar arrangements   be required with respect to any assets requiring perfection through control agreements or perfection by   “control” (other than in respect of (a) certificated equity interests in the Borrower and the wholly-owned   Restricted Subsidiaries of Holdings otherwise required to be pledged and (b) each promissory note (if any)   required to be pledged to the Administrative Agent pursuant to the Security Agreement endorsed (without   recourse) in blank (or accompanied by an executed transfer form in blank) by the pledgor thereof); provided   that, to the extent any deposit and securities accounts are under the control of the ABL Agent at any time   pursuant to the terms of the ABL-Term Intercreditor Agreement, the ABL Agent shall act as agent and  gratuitous bailee for the Administrative Agent for the purpose of perfecting the Administrative Agent’s  Liens in such deposit and security accounts.                “Excluded Contributions”: the net cash proceeds and Cash Equivalents received by or   contributed to the Borrower or the Guarantors after the Closing Date from:                (1)   contributions to its common or preferred equity capital, and                (2)   the sale (other than to the Company Borrower or a Restricted Subsidiary thereof  or management equity plan or stock option plan or any other management or employee benefit plan or  agreement) of Capital Stock (other than Refunding Capital Stock, Disqualified Stock and Designated  Preferred Stock) of the Company Borrower or any direct or indirect parent,                in each case designated as Excluded Contributions pursuant to an Officer’s Certificate  executed by an Officer of the Company Borrower on the date such capital contributions are made or the  date such Capital Stock is sold, as the case may be, the proceeds of which are excluded from the calculation  set forth in Section 6.2(a)(3).                “Excluded Domestic Subsidiary”:  any Subsidiary of the Company Borrower that is (i) a   CFC Holdco or (ii) a direct or indirect Domestic Subsidiary of a Foreign Subsidiary that is a CFC.                “Excluded ECP Guarantor”:  in respect of any Swap Obligation, any Loan Party that is not   a Qualified ECP Guarantor at the time such Swap Obligation is incurred.                “Excluded Subsidiary”: (a) any Subsidiary of Holdings or the Borrower (i) that is not a   Wholly Owned Subsidiary (provided that such Subsidiary shall cease to be an Excluded Subsidiary at the                                         -31-        

 

     time such Subsidiary becomes a Wholly Owned Subsidiary), (ii) which is an Immaterial Subsidiary   (provided that such Subsidiary shall cease to be an Excluded Subsidiary at the time such Subsidiary is no   longer an Immaterial Subsidiary), (iii) for which the granting of a pledge or security interest would be   prohibited or restricted by applicable law (including financial assistance, fraudulent conveyance,   preference, thin capitalization or other similar laws or regulations), whether on the Closing Date or   thereafter or by contract existing on the Closing Date, or, if such Subsidiary is acquired after the Closing   Date, by contract existing when such Subsidiary is acquired (so long as such prohibition is not created in   contemplation of such acquisition), including any requirement to obtain the consent of any Governmental   Authority or third party, (iv) for which the provision of a Guarantee would result in material adverse Tax   consequences (as reasonably determined in good faith by the Company Borrower in consultation with the   Administrative Agent), (v) that is a direct or indirect Domestic Subsidiary of a Foreign Subsidiary that is a   CFC or (vi) that is a CFC Holdco and (b) any captive insurance company or not-for-profit subsidiary.                “Excluded Swap Obligation”:  any obligation (a “Swap Obligation”) of any Excluded ECP   Guarantor 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, if, and to the extent that, all or a portion of   the Guarantee of such Guarantor of, or the grant by such Guarantor of a security interest to secure, such   Swap Obligation (or any Guarantee 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 Guarantor’s failure for any reason not to constitute an   “eligible contract participant” as defined in the Commodity Exchange Act.                “Excluded Taxes”: with respect to the Administrative Agent, any Lender or any other   recipient of any payment to be made by or on behalf of any Loan Party hereunder or under any other Loan   Document, (i) net income Taxes and franchise Taxes (which franchise Taxes are imposed in lieu of net   income Taxes) and any branch profits Taxes, in each case imposed on such recipient as a result of (a) such   recipient being organized or having its principal office or applicable lending office in the jurisdiction   imposing such Tax, or any political subdivision thereof or therein, or (b) any other present or former   connection between the recipient 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 recipient having executed, delivered, become a party to or performed its obligations or received   a payment under, received or perfected a security interest under, engaged in any other transaction pursuant   to, and/or enforced, this Agreement or any other Loan Document), (ii) United States federal withholding   Taxes to the extent imposed on amounts payable to any Lender (other than any Lender becoming a party   hereto pursuant to a Borrower’s request under Section 2.17) pursuant to a law in effect at the time such   Lender becomes a party to this Agreement (or designates a new lending office), except to the extent that   such Lender (or its assignor, if any) was entitled, immediately prior to the time of designation of a new   lending office (or assignment, if any), to receive additional amounts from a Loan Party with respect to such   Taxes pursuant Section 2.14(a), (iii) withholding Taxes that are attributable to a Lender’s failure to comply   with the requirements of paragraph (d), (e) or (g) of Section 2.14 and (v) United States federal withholding   Taxes imposed by FATCA.                    “Existing Credit Agreement”:  the Credit Agreement, dated as of September 19, 2011 (as   amended, supplemented or otherwise modified prior to the date hereof), among the Company Borrower,   JELD-WEN of Europe, B.V., the several banks, financial institutions, institutional investors and other   entities from time to time parties thereto as lenders and agents, and Bank of America, N.A., as agent.                “Existing Debt Release/Repayment”:  collectively, (i) the release of Holdings, the   Company Borrower and its Subsidiaries as borrowers, issuers, grantors and guarantors, as applicable, under   the Existing Credit Agreement and the Existing Indenture and the termination and release of all security   interests and Liens granted by Holdings, the Company Borrower and its Subsidiaries in connection                                        -32-        

 

   therewith, and (ii) the release of all Liens on the Collateral pledged by Holdings and its Subsidiaries in  connection with the Existing Guarantee.               “Existing Guarantee”:  the Amended and Restated Guaranty, dated as of July 8, 2009, by  the Company Borrower in favor of U.S. Bank National Association, as amended by the Amendment of  Guaranty, dated as of June 29, 2011.               “Existing Indenture”:  the Indenture, dated as of October 3, 2011 (as amended,  supplemented or otherwise modified prior to the date hereof), among JELD-WEN Escrow Corporation,  Inc., Wells Fargo Bank, National Association, as trustee, and Bank of America, N.A., as collateral agent.               “Extended Commitments”:  one or more Classes of extended Commitments hereunder that  result from a Permitted Amendment.               “Extended Loans”: one or more classes of extended Loans that result from a Permitted  Amendment.               “Facility”:  any Class of Loans, as the context may require.               “Fair Market Value”: with respect to any asset or property, 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 Borrower).               “FATCA”:  Sections 1471 through 1474 of the Code as in existence on the date of this  Agreement (and any amended or successor versions of such provisions that are substantively comparable  and not materially more onerous to comply with), any current or future regulations thereunder and official  interpretations thereof, any agreements entered into pursuant to current Section 1471(b)(1) of the Code (or  any amended or successor version described above) and any fiscal or regulatory legislation, rules or official  practices adopted pursuant to any published intergovernmental agreement entered into in connection with  the implementation of such Sections of the Code.                 “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 arranged by federal funds brokers  (or, if such day is not a Business Day, for the next preceding Business Day), 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 of such transactions received by  Bank of America from three federal funds brokers of recognized standing selected by it.               “Fixed Charge Coverage Ratio”: with respect to the Company Borrower and its Restricted  Subsidiaries for any period, the ratio of Consolidated EBITDA of the Company Borrower and its Restricted  Subsidiaries for such period to the Fixed Charges of the Company Borrower and its Restricted Subsidiaries  for such period.  In the event that the Company Borrower or any of its Restricted Subsidiaries Incurs,  assumes, guarantees, redeems, (or gives irrevocable notice of redemption for), repays, retires or  extinguishes any Indebtedness (other than Indebtedness incurred or repaid under any revolving credit  facility, unless such Indebtedness has been permanently repaid and has not been replaced) or issues or  redeems Disqualified Stock or Preferred Stock subsequent to the commencement of the period for which  the Fixed Charge Coverage Ratio is being calculated but prior to or simultaneously with the event for which  the calculation of the Fixed Charge Coverage Ratio is made (the “Fixed Charge Coverage Ratio Calculation  Date”), then the Fixed Charge Coverage Ratio shall be calculated giving pro forma effect to such  Incurrence, assumption, guarantee, redemption (including as contemplated by any such irrevocable notice                                        -33-      

 

     of redemption), repayment, retirement or extinguishment of Indebtedness, or such issuance or redemption   of Disqualified Stock or Preferred Stock, as if the same had occurred at the beginning of the applicable   four-quarter period.                For purposes of making the computation referred to above, Investments, acquisitions,  dispositions, mergers, consolidations and discontinued operations (as determined in accordance with  GAAP) and operational changes (including price increases), that have been made by the Company  Borrower or any of its Restricted Subsidiaries during the four-quarter reference period or subsequent to  such reference period and on or prior to or simultaneously with the Fixed Charge Coverage Ratio  Calculation Date (each, for purposes of this definition, a “pro forma event”) shall be calculated on a pro   forma basis assuming that all such Investments, acquisitions, dispositions, mergers, consolidations,   discontinued operations and operational changes (including price increases to the extent permitted by the   definition of Consolidated EBITDA) (and the change of any associated fixed charge obligations and the   change in Consolidated EBITDA resulting therefrom) had occurred on the first day of the four-quarter   reference period.  If, since the beginning of such period, any Person that subsequently became a Restricted   Subsidiary of the Company Borrower or was merged with or into the Company Borrower or any Restricted   Subsidiary thereof since the beginning of such period shall have made or effected any Investment,   acquisition, disposition, merger, consolidation or discontinued operation or operational change (including   price increases to the extent permitted by the definition of Consolidated EBITDA) that would have required   adjustment pursuant to this definition, then the Fixed Charge Coverage Ratio shall be calculated giving pro   forma effect thereto for such period as if such Investment, acquisition, disposition, merger, consolidation,  discontinued operation, or operational change had occurred at the beginning of the applicable four-quarter   period.                For purposes of this definition, whenever pro forma effect is to be given to any pro forma   event, the pro forma calculations shall be made in good faith by a responsible financial or accounting officer   of the Company Borrower.  Any such pro forma calculation may include, without duplication, reasonably   identifiable and factually supportable adjustments appropriate to reflect cost savings, operating expense   reductions, operational changes (including price increases to the extent permitted by the definition of   Consolidated EBITDA), restructuring and integration charges and expenses and synergies reasonably   expected to result from the applicable event to the extent set forth in the definition of “Consolidated   EBITDA;” provided, that such adjustments shall not exceed the percentage-limitations thereon, if any, set   forth in the definition of “Consolidated EBITDA.”                If any Indebtedness bears a floating rate of interest and is being given pro forma effect, the  interest on such Indebtedness shall be calculated as if the rate in effect on the Fixed Charge Coverage Ratio  Calculation Date had been the applicable rate for the entire period (taking into account any Hedging  Obligations applicable to such Indebtedness).  Interest on a Capitalized Lease Obligation shall be deemed  to accrue at an interest rate reasonably determined by a responsible financial or accounting officer of the  Company Borrower to be the rate of interest implicit in such Capitalized Lease Obligation in accordance  with GAAP.  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 Company Borrower may designate.                “Fixed Charges”: with respect to any Person for any period, the sum of                (1)   Consolidated Interest Expense of such Person for such period, and                                         -34-        

 

                 (2)   all cash dividend payments (excluding items eliminated in consolidation) on any  series of Disqualified Stock of such Person and its Restricted Subsidiaries;                provided, however, that, notwithstanding the foregoing, any charges arising from (i) the   application of Accounting Standards Codification Topic 480-10-25-4 “Distinguishing Liabilities from  Equity—Overall—Recognition” (and related or successor interpretations) to any series of Preferred Stock  other than Disqualified Stock or (ii) the application of Accounting Standards Codification Topic 470-20  “Debt—Debt with Conversion Options—Recognition” (and related or successor interpretations) in each  case, shall be disregarded in the calculation of Fixed Charges.                “Flood Insurance Laws”: collectively, (i) National Flood Insurance Reform Act of 1994   (which comprehensively revised the National Flood Insurance Act of 1968 and the Flood Disaster   Protection Act of 1973) as now or hereafter in effect or any successor statute thereto, (ii) the Flood Insurance   Reform Act of 2004 as now or hereafter in effect or any successor statute thereto and (iii) 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 Borrower that is not a Domestic   Subsidiary.                “Funded Debt”:  as to any Person, all Indebtedness described in clauses (1)(a), (1)(c) and   (1)(e) of the definition of “Indebtedness” of such Person that matures more than one year from the date of   its creation or matures within one year from such date but is renewable or extendible, at the option of such   Person, to a date more than one year from such date or arises under a revolving credit or similar agreement   that obligates the lender or lenders to extend credit during a period of more than one year from such date,   including all current maturities and current sinking fund payments in respect of such Indebtedness whether   or not required to be paid within one year from the date of its creation and, in the case of the Company   Borrower, Indebtedness in respect of the Loans.                “Funding Default”:  as defined in Section 2.12(d).                “Funding Office”:  the office of the Administrative Agent specified in Section 10.2 or such   other office as may be specified from time to time by the Administrative Agent as its funding office by   written notice to the Company Borrower and the Lenders.                “GAAP”:  generally accepted accounting principles in the United States of America that   are in effect on the Closing Date. In the event that any “Accounting Change” (as defined below) shall occur   and such change results in a change in the method of calculation of financial definitions, ratios, standards   or terms in this Agreement, then at the Company Borrower’s request, the Administrative Agent shall enter   into negotiations with the Company Borrower in order to amend such provisions of this Agreement so as   to reflect equitably such Accounting Changes with the desired result that the criteria for evaluating the   Company Borrower’s financial condition shall be the same after such Accounting Changes as if such   Accounting Changes had not been made.  Until such time as such an amendment shall have been executed   and delivered by the Company Borrower, the Administrative Agent and the Required Lenders, all financial   ratios, definitions, standards and terms in this Agreement shall continue to be calculated or construed as if   such Accounting Changes had not occurred (other than for purposes of delivery of financial statements   under Sections 5.1(a) and (b)).  “Accounting Changes” refers to changes in accounting principles (i)   required by 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 or (ii) otherwise proposed by the Company Borrower to, and approved by, the Administrative Agent.                                          -35-        

 

                 “Governmental Approval”:  any consent, authorization, approval, order, license, franchise,   permit, certificate, accreditation, registration, filing or notice, of, issued by, from or to, or other act by or in   respect of, any Governmental Authority.                “Governmental Authority”:  any nation or government, any state, province 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, any securities exchange and any self-regulatory organization (including the   National Association of Insurance Commissioners).                “Group Members”:  the collective reference to the Company Group Members.                “guarantee”: as to any Person, a guarantee (other than by endorsement of negotiable   instruments for collection in the ordinary course of business), direct or indirect, in any manner (including   letters of credit and reimbursement agreements in respect thereof), of all or any part of any Indebtedness of   another Person.                “Guarantee”:  as defined in Section 7.2.                “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 (the “primary obligations”) of any other third Person (the “primary obligor”) in any manner,   whether directly or indirectly, including any obligation of the guaranteeing person, whether or not   contingent, (a) to purchase any such primary obligation or any property constituting direct or indirect   security therefor, (b) to advance or supply funds (i) for the purchase or payment of any such primary   obligation or (ii) to maintain working capital or equity capital of the primary obligor or otherwise to   maintain the net worth or solvency of the primary obligor, (c) 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 (d) 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  Borrower in good faith.                “Guarantor Joinder Agreement”:  an agreement substantially in the form of Exhibit H.                “Guarantor Obligations”:  as defined in Section 7.1(b).                “Guarantors”:  the collective reference to the Company Guarantors.                “Hedging Obligations”: with respect to any Person, the obligations of such Person under:                                          -36-        

 

                 (1)   currency exchange, interest rate or commodity Swap Agreements, currency   exchange, interest rate or commodity cap agreements and currency exchange, interest rate or commodity   collar agreements; and                (2)   other agreements or arrangements designed to manage or protect such Person   against fluctuations in currency exchange, interest rates or commodity prices.                “Holdings”:  as defined in the preamble hereto.                “Immaterial Subsidiary”:  each Subsidiary (i) which, as of the most recent fiscal quarter of   the Company Borrower, for the period of four consecutive fiscal quarters then ended, for which financial   statements have been delivered pursuant to Section 5.1 (or, prior to delivery of the financial statements for   the fiscal year of the Company Borrower ending December 31, 2014, for which financial statements have   been delivered pursuant to Section 4.1(d)), contributed less than five percent (5%) of Consolidated EBITDA   for such period and (ii) which had assets with a fair market value of less than five percent (5%) of the Total   Assets as of such date; provided that, if at any time the aggregate amount of Consolidated EBITDA or Total   Assets attributable to all Subsidiaries that are Immaterial Subsidiaries exceeds ten percent (10%) of   Consolidated EBITDA for any such period or ten percent (10%) of Total Assets as of the end of any such   fiscal quarter, the Company Borrower shall designate in its sole discretion sufficient Subsidiaries as   “Subsidiaries” to eliminate such excess, and such designated Subsidiaries shall no longer constitute   Immaterial Subsidiaries under this Agreement; provided further that the Company Borrower may re-  designate Subsidiaries as Immaterial Subsidiaries so long as the Company Borrower is in compliance with   the foregoing.                “Immediate Family Members” means, with respect to any individual, such individual’s   child, stepchild, grandchild or more remote descendant, parent, stepparent, grandparent, spouse, former   spouse, qualified domestic partner, sibling, mother-in-law, father-in-law, son-in-law and daughter-in-law  (including adoptive relationships) and any trust, partnership or other bona fide estate-planning vehicle the   only beneficiaries of which are any of the foregoing individuals or any private foundation or fund that is   controlled by any of the foregoing individuals or any donor-advised fund of which any such individual is   the donor.                “Incremental Amendment”: as defined in Section 2.19(c).                “Incremental Commitments”:  as defined in Section 2.19(a).                “Incremental Facility”: each Incremental Commitment and Incremental Loan.                 “Incremental Facility Closing Date”: as defined in Section 2.19(c).                “Incremental Lender”:  as defined in Section 2.19(a).                “Incremental Loans”:  as defined in Section 2.19(a).                “Incremental Maturity Date”:  the date on which an Incremental Loan matures as set forth   in the Incremental Amendment relating to such Incremental Loan.                “Incremental Percentage”:  as to any Incremental Lender at any time, the percentage which   such Lender’s Incremental Commitments then constitutes of the aggregate Incremental Commitments then   outstanding.                                         -37-        

 

                 “Incremental Yield Differential”:  as defined in Section 2.19(a)(vii).                “Incur”:  with respect to any Indebtedness, issue, assume, guarantee, incur or otherwise   become liable for; provided, however, that any Indebtedness or Capital Stock of a Person existing at the   time such person becomes a Subsidiary (whether by merger, consolidation, acquisition or otherwise) shall   be deemed to be Incurred by such Person at the time it becomes a Subsidiary.                “Indebtedness”:  with respect to any Person:                (1)   the principal and premium (if any) of any Indebtedness of such Person, whether or  not contingent, (a) in respect of borrowed money, (b) evidenced by bonds, notes, debentures or similar  instruments or letters of credit or bankers’ acceptances (or, without duplication, reimbursement agreements  in respect thereof), (c) representing the deferred and unpaid purchase price of any property, assets or  business, except (x) any such balance that constitutes a trade payable, accrued expense or similar obligation  to a trade creditor and (y) any acquisition earn-out obligations, (d) in respect of Capitalized Lease  Obligations or (e) representing any Hedging Obligations, other than Hedging Obligations that are incurred  in the normal course of business and not for speculative purposes, and that do not increase the Indebtedness  of the obligor outstanding at any time other than as a result of fluctuations in interest rates, commodity  prices or foreign currency exchange rates or by reason of fees, indemnities and compensation payable  thereunder, if and to the extent that any of the foregoing Indebtedness (other than letters of credit and  Hedging Obligations) would appear as a liability on a balance sheet (excluding the footnotes thereto) of  such Person prepared in accordance with GAAP, provided that Indebtedness of any direct or indirect parent   of the Company Borrower appearing upon the balance sheet of the Company Borrower solely by reason of   push-down accounting under GAAP shall be excluded;                (2)   to the extent not otherwise included, any obligation of such Person to be liable for,  or to pay, as obligor, guarantor or otherwise, on the obligations described in clause (1) of another Person  (other than by endorsement of negotiable instruments for collection in the ordinary course of business); and                (3)   to the extent not otherwise included, obligations described in clause (1) of another  Person secured by a Lien on any asset owned by such Person (whether or not such Indebtedness is assumed  by such Person); provided, however, that the amount of such Indebtedness will be the lesser of (a) the Fair   Market Value of such asset at such date of determination, and (b) the amount of such Indebtedness of such   other Person;                provided that (a) Contingent Obligations Incurred in the ordinary course of business, (b)   Other Obligations associated with other post-employment benefits and pension plans, (c) any operating   leases as such an instrument would be determined in accordance with GAAP on the date of this Agreement,   (d) in connection with the purchase by the Company Borrower or its Restricted Subsidiaries of any business,   post-closing payment adjustments to which the seller may be entitled to the extent such payment is   determined by a final closing balance sheet or such payment depends on the performance of such business   after the closing until 30 days after such obligation becomes contractually due and payable, (e) deferred or   prepaid revenues, (f) any Capital Stock other than Disqualified Stock, (g) purchase price holdbacks in   respect of a portion of the purchase price of an asset to satisfy warranty or other unperformed obligations   of the respective seller, (h) premiums payable to, and advance commissions or claims payments from,   insurance companies, (i) intercompany liabilities arising from their cash management, tax, and accounting   operations, and (j) intercompany loans, advances or Indebtedness having a term not exceeding 364 days   (inclusive of any rollover or extensions of terms) and made in the ordinary course of business shall in each   case be deemed not to constitute Indebtedness.                “Indemnified Liabilities”:  as defined in Section 10.5.                                         -38-        

 

               “Indemnitee”:  as defined in Section 10.5.               “Independent Financial Advisor”: an accounting, appraisal or investment banking firm or  consultant, in each case of nationally recognized standing that is, in the good faith determination of the  Company Borrower, its direct or indirect parent, qualified to perform the task for which it has been engaged.               “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 Security Agreement.               “Intellectual Property Licenses”: as defined in the Security Agreement.               “Intellectual Property Security Agreements”:  the Patent Security Agreement, the  Trademark Security Agreement and the Copyright Security Agreements, each dated as of the date hereof,  by the applicable Loan Party thereto in favor of the Administrative Agent, each in form and substance  reasonably satisfactory to the Administrative Agent and each as amended, restated, amended and restated,  supplemented or otherwise modified from time to time in accordance with the respective terms thereof and  with this Agreement, and any additional agreements or documents necessary to grant or record a Lien  contemplated herein on intellectual property of any Loan Party for the benefit of any Secured Party.               “Intercreditor Agreement”:  (i) the ABL-Term Intercreditor Agreement, and (ii) any  intercreditor agreement executed in connection with any transaction requiring such agreement to be  executed pursuant to the terms hereof, among the Administrative Agent, the Borrower, the Guarantors and  one or more Senior Representatives in respect of such Indebtedness or any other party, as the case may be,  substantially on terms set forth on Exhibit D-2 (except to the extent otherwise reasonably agreed by the  Borrower and the Required Lenders, which changes will be deemed approved by each Lender who has not  objected within five (5) Business Days following the posting thereof by the Administrative Agent to the  Lenders (or such other time as reasonably agreed by the Administrative Agent and the Borrower)) and such  other terms that are reasonably satisfactory to the Administrative Agent, in each case, as amended, restated,  supplemented, replaced or otherwise modified from time to time with the consent of the Administrative  Agent (such consent not be unreasonably withheld, conditioned or delayed).               “Interest Payment Date”:  (a) as to any ABR Loan, the last Business Day of each March,  June, September and December (commencing on March 31, 2015) to occur while such Loan is outstanding  and the final maturity date of such Loan, (b) as to any Eurodollar Loan having an Interest Period of three  months or less, the last day of such Interest Period, (c) as to any Eurodollar Loan having an Interest Period  longer than three months, each day that is three months, or a whole multiple thereof, after the first day of  such Interest Period and the last day of such Interest Period and (d) as to any Loan, the date of any repayment  or prepayment made in respect thereof.               “Interest Period”:  as to any Eurodollar Loan, (a) initially, the period commencing on the  borrowing or conversion date, as the case may be, with respect to such Eurodollar Loan and ending one,  two, three or six or (if available to all Lenders under the relevant Facility) twelve months or a period shorter  than one month thereafter, as selected by the Company Borrower in its notice of borrowing or notice of  conversion, as the case may be, given with respect thereto; and (b) thereafter, each period commencing on  the last day of the next preceding Interest Period applicable to such Eurodollar Loan and ending one, two,  three or six or (if available to all Lenders under the relevant Facility) twelve months or a period shorter than  one month thereafter, as selected by the Company Borrower by irrevocable notice to the Administrative                                        -39-      

 

     Agent not later than 1:00 P.M., New York City time, on the date that is three (3) Business Days prior to the   last day of the then current Interest Period with respect thereto; provided that all of the foregoing provisions   relating to Interest Periods are subject to the following:                      (i)   if any Interest Period would otherwise end on a day that is not a Business        Day, such Interest Period shall be extended to the next succeeding Business Day unless the result        of such extension would be to carry such Interest Period into another calendar month in which event        such Interest Period shall end on the immediately preceding Business Day;                     (ii)  the Company Borrower (with respect to the Loans other than the        Incremental Loans) and the Company Borrower (with respect to the Incremental Loans) may not        select an Interest Period under the Facility beyond the date final payment is due on the Loans;                     (iii) any Interest Period that begins on the last Business Day of a calendar        month (or on a day for which there is no numerically corresponding day in the calendar month at        the end of such Interest Period) shall end on the last Business Day of a calendar month;                     (iv)  the Company Borrower shall select Interest Periods so as not to require a        scheduled payment of any Eurodollar Loan during an Interest Period for such Loan; and                     (v)   if the Company Borrower shall fail to specify the Interest Period in any        notice of borrowing of, conversion to, or continuation of, Eurodollar Loans, the Company Borrower        shall be deemed to have selected an Interest Period of one month.                “Investment Grade Rating” means 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 Rating Agency.                “Investment Grade Securities”:                (1)   securities issued or directly and fully guaranteed or insured by the U.S. government  or any agency or instrumentality thereof (other than Cash Equivalents);                (2)   securities that have an Investment Grade Rating;                (3)   investments in any fund that invests at least 95% of its assets in investments of the   type described in clauses (1) and (2) which fund may also hold immaterial amounts of cash pending   investment and/or distribution; and               (4)    corresponding instruments in countries other than the United States customarily   utilized for high quality investments.                “Investments”:  with respect to any Person, all investments by such Person in other Persons   (including Affiliates) in the form of loans (including guarantees), advances or capital contributions   (excluding accounts receivable, trade credit and advances to customers and commission, travel and similar   advances to officers, directors, employees and consultants made in the ordinary course of business),   purchases or other acquisitions for consideration of Indebtedness, Equity Interests or other securities issued   by any other Person (excluding, in the case of the Borrower and its Subsidiaries (i) intercompany advances   arising from their cash management, tax, and accounting operations and (ii) intercompany loans, advances,   or Indebtedness having a term not exceeding 364 days (inclusive of any roll-over or extensions of terms)   and made in the ordinary course of business).  For purposes of the definition of “Unrestricted Subsidiary”   and Section 6.2:                                         -40-        

 

                 (1)   “Investments” shall include the portion (proportionate to the applicable Holdings’  equity interest in such Subsidiary) of the Fair Market Value of the net assets of a Subsidiary of the Company  Borrower 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 Borrower 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 Borrower’s “Investment” in such Subsidiary at the time of such  redesignation less                (b)   the portion (proportionate to the Company Borrower’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, in each case as determined in good faith by the Company  Borrower.                For the avoidance of doubt, a guarantee by the Company Borrower or a Restricted  Subsidiary thereof of the obligations of another Person (the “primary obligor”) shall not be deemed to be  an Investment by the Company Borrower or such Restricted Subsidiary in the primary obligor to the extent  that such obligations of the primary obligor are in favor of the Company Borrower or any Restricted  Subsidiary thereof, and in no event shall a guarantee of an operating lease or other business contract of the  Company Borrower or any Restricted Subsidiary be deemed an Investment.                “Investors”:  means Onex Corporation, Onex Partners III LP, Onex Partners Manager LP   and/or one or more other investment funds advised, managed or controlled by Onex Corporation and, in   each case (whether individually or as a group) their Affiliates and any investment funds that have granted   to the foregoing control in respect of their investments in the Company Borrower and its Restricted   Subsidiaries, but, in any event, excluding any of their respective portfolio companies.                “IRS”:  as defined in Section 10.6(c).                “Joint Bookrunners”:  collectively, the Joint Bookrunners listed on the cover page hereof.                “Joint Lead Arrangers”:  collectively, the Joint Lead Arrangers listed on the cover page   hereof.                “Latest Maturity Date”:  at any date of determination, the latest maturity or expiration date   applicable to any Loan or Commitment hereunder at such time, including the latest maturity or expiration   date of any Incremental Loans, Other Loan or Other Commitment.                “Lender Presentation”:  the Lender Presentation dated December 2017 and furnished to   certain Lenders.                “Lenders”:  as defined in the preamble hereto.                “LIBOR” has the meaning set forth in the definition of “Eurodollar Rate”.                “LIBOR Screen Rate” has the meaning set forth in the definition of “Eurodollar Rate”.                                           -41-        

 

               “LIBOR Successor Rate” has the meaning set forth in Section 2.11(d).                 “LIBOR Successor Rate Conforming Changes” means, with respect to any proposed  LIBOR Successor Rate, any conforming changes to the definition of ABR, Interest Period, timing and  frequency of determining rates and making payments of interest and other administrative matters as may  be appropriate, in the discretion of the Administrative Agent in consultation with the Company Borrower,  to reflect the adoption of such LIBOR Successor Rate and to permit the administration thereof by the  Administrative Agent in a manner substantially consistent with market practice (or, if the Administrative  Agent determines that adoption of any portion of such market practice is not administratively feasible or  that no market practice for the administration of such LIBOR Successor Rate exists, in such other manner  of administration as the Administrative Agent determines in consultation with the Company Borrower).                 “Lien”:  any mortgage, deed of trust, pledge, hypothecation, collateral assignment,  encumbrance, lien (statutory or other), charge or other security interest or any other security agreement or  arrangement of any kind or nature whatsoever (including any conditional sale or other title retention  agreement and any capital lease having substantially the same economic effect as any of the foregoing).               “Limited Condition Transaction” shall mean any Permitted Acquisition, Permitted  Investment, Disposition, Restricted Payment (other than any Restricted Payment to an Investor) or other  transaction whose consummation is not conditioned on the availability of, or on obtaining, third-party  financing (or, if such a condition does exist, the Company Borrower or any Restricted Subsidiary, as  applicable, would be required to pay any fee, liquidated damages or other amount or be subject to any  indemnity, claim or other liability as a result of such third party financing not having been available or  obtained).               “Loan”:  any Term B-4 Loan, Other Loan or Incremental Loan, as the context requires.               “Loan Documents”:  this Agreement, any Intercreditor Agreement, the Notes, the Security  Documents, Amendment No. 1, Amendment No. 2, Amendment No. 3, Amendment No. 4, Amendment  No. 5, a Refinancing Amendment, if any, an Incremental Amendment, if any, and a Loan Modification  Agreement, if any.               “Loan Modification Agreement”:  as defined in Section 2.22(b).               “Loan Modification Offer”:  as defined in Section 2.22(a).               “Loan Parties”:  each Group Member that is a party to a Loan Document.               “London Banking Day”: any day on which dealings in Dollar deposits are conducted by  and between banks in the London interbank eurodollar market.               “Majority Facility Lenders”:  with respect to any Facility, the Majority Lenders with  respect to such Facility.               “Majority Lenders”:  at any time with respect to any Facility, Lenders that are non- Defaulting Lenders having Loans and unused and outstanding Commitments with respect to such Facility  representing more than 50% of the sum of all Loans outstanding and unused and outstanding Commitments  with respect to such Facility at such time.               “Management Agreement”: one or more management services agreements between the  Company Borrower or any of its Affiliates and the Sponsor (or any of its Affiliates), or a successor                                        -42-      

 

     agreement between the Company Borrower or any of its Affiliates and the Sponsor, as may be amended,   supplemented or otherwise modified from time to time; provided that such amendments, supplements or   modifications are not materially adverse to the Lenders as determined in good faith by the Company   Borrower.                “Management Investors”: means the members of the board of directors, officers and   employees of Holdings, the Company Borrower and/or its Subsidiaries who are (directly or indirectly   through one or more investment vehicles) investors in direct or indirect parent companies of the Company   Borrower.                “Management Stockholders”:  the members of management of Holdings or its Subsidiaries   and their Control Investment Affiliates who are holders of Capital Stock of Holdings or any direct or   indirect parent company of Holdings on the Closing Date.                “Mandatory Prepayment Date”:  as defined in Section 2.6(e).                “Margin Stock”: as set forth in Regulation U of the Board of Governors of the United States   Federal Reserve System, or any successor thereto.                “Material Adverse Effect”:  a material adverse effect on (a) the business, assets, liabilities,   operations, financial condition or operating results of the Company Borrower and its Restricted Subsidiaries  taken as a whole, (b) the ability of the Loan Parties (taken as a whole) to perform their obligations under  the Loan Documents or (c) the rights, remedies and benefits available to, or conferred upon, the  Administrative Agent, any Lender or any Secured Party hereunder or thereunder.                “Material Property”: any fee owned real property with a Fair Market Value equal to or   greater than $20,000,000.                “Materials of Environmental Concern”:  any chemicals, pollutants, contaminants, wastes,   toxic substances, hazardous substances, any petroleum or petroleum products, asbestos, polychlorinated   biphenyls, lead or lead-based paints or materials, radon, urea-formaldehyde insulation, molds fungi,  mycotoxins, and radioactivity, or radiofrequency radiation that are regulated pursuant to Environmental  Law or may have an adverse effect on human health or the environment.                “Maturity Date”:  December 14, 2024.                “Maximum Amount”:  as defined in Section 10.19(a).                “Minimum Extension Condition”:  as defined in Section 2.22(c).                “Moody’s”:  Moody’s Investors Service, Inc., or any successor thereto.                “Mortgage”:  each of the mortgages, deeds of trust, and deeds to secure debt or such   equivalent documents hereafter entered into and executed and delivered by one or more of the Loan Parties   (or any Group Member required to become a Loan Party pursuant to the terms of the Loan Documents) to   the Administrative Agent, in each case, in form and substance reasonably acceptable to the Administrative   Agent.                “Mortgaged Property”:  the real properties as to which, pursuant to Section 5.9(b) or   otherwise, the Administrative Agent, for the benefit of the Secured Parties, shall be granted a Lien pursuant   to the Mortgages, including each real property identified as a “Mortgaged Property” on Schedule 1.1C.                                         -43-        

 

                 “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, any Recovery Event or any   other sale of assets the proceeds thereof actually received 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, but only as and when received),   net of (i) attorneys’ fees, accountants’ fees, investment banking fees, and other bona fide fees, costs and   expenses actually incurred in connection therewith, (ii) amounts required to be applied to the repayment of   Indebtedness secured by a Lien expressly permitted hereunder on any asset that is the subject of such Asset   Sale, Recovery Event or other sale of assets (other than any Lien pursuant to a Security Document), (iii)   taxes paid and the Company Borrower’s reasonable and good faith estimate of income, franchise, sales, and  other applicable taxes required to be paid by any Company Group Member in connection with such Asset  Sale, Recovery Event or other sale of assets, (iv) a reasonable reserve for any indemnification payments  (fixed or contingent) attributable to the seller’s indemnities and representations and warranties to the  purchaser in respect of such Asset Sale, Recovery Event or other sale of assets owing by any Company  Group Member in connection therewith and which are reasonably expected to be required to be paid;  provided that to the extent such indemnification payments are not made and are no longer reserved for, such   reserve amount shall constitute Net Cash Proceeds, (v) cash escrows to any Company Group Member from   the sale price for such Asset Sale, Recovery Event or other sale of assets; provided that any cash released   from such escrow shall constitute Net Cash Proceeds upon such release, (vi) in the case of a Recovery   Event, costs of preparing assets for transfer upon a taking or condemnation and (vii) other customary fees   and expenses actually incurred in connection therewith and net of taxes paid or reasonably estimated to be   payable as a result thereof (after taking into account the reduction in tax liability resulting from any   available operating losses and net operating loss carryovers, tax credits, and tax credit carry forwards, and   similar tax attributes or deductions and any tax sharing arrangements), and (b) in connection with any   issuance or sale of Capital Stock or any incurrence or issuance of Indebtedness, the cash proceeds received   from any such issuance or incurrence, net of attorneys’ fees, investment banking fees, accountants’ fees,   underwriting discounts and commissions and other bona fide fees and expenses actually incurred in   connection therewith.                “Net Income”: with respect to any Person, the net income (loss) attributable to such Person,   determined in accordance with GAAP and before any reduction in respect of Preferred Stock dividends.                “New York UCC”:  the UCC as in effect from time to time in the State of New York.                “Non-Debt Fund Affiliate”:  any Affiliate of Holdings other than (i) Holdings or any   Subsidiary of Holdings, (ii) any Debt Fund Affiliate and (iii) any natural person.                “Non-Excluded Taxes”:  all Taxes imposed on or with respect to any payment made by or   on account of any obligation of any Loan Party under any Loan Document, other than Excluded Taxes and   Other Taxes.                “Non-Guarantor Subsidiary”: any Subsidiary of the Borrower which is not a Guarantor;   provided that the Company Borrower may in its sole discretion designate any Non-Guarantor Subsidiary   that is a Domestic Subsidiary as a Company Subsidiary Guarantor.                 “Non-Material Property”:  any individual fee owned real property other than Material   Property.                “Non-U.S. Lender”:  as defined in Section 2.14(d).                                         -44-        

 

               “Note”:  a promissory note substantially in the form of Exhibit F, as it may be amended,  supplemented or otherwise modified from time to time.               “Obligations”:  the unpaid principal of and interest on the Loans, and all other obligations  and liabilities of the Borrower or any other Loan Party (including with respect to guarantees) to the  Administrative Agent, any Lender or any other Secured Party, 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 or any other Loan Document or any other document made, delivered or  given in connection herewith or therewith or any Specified Swap Agreement (other than, in the case of any  Excluded ECP Guarantor, any Excluded Swap Obligations arising thereunder) or any Specified Cash  Management Agreement, whether on account of principal, interest, fees, indemnities, costs, expenses  (including, in each case, all fees, charges and disbursements of counsel to the Administrative Agent or to  any Lender that are required to be paid by the Borrower or any Guarantor pursuant to any Loan Document  and all interest accruing after the maturity of the Loans or the maturity of Cash Management Obligations  and interest, fees and other amounts accruing after the filing of any petition in bankruptcy, or the  commencement of any insolvency, reorganization or like proceeding, relating to the Borrower or any  Guarantor, whether or not a claim for post-filing or post-petition interest, fees and other amounts is allowed  in such proceeding), guarantee obligations or otherwise.               “OFAC”:  the Office of Foreign Assets Control of the United States Department of the  Treasury.               “Offer Price”: as defined in the definition of “Dutch Auction.”               “Officer”: the Chairman of the Board, Chief Executive Officer, Chief Financial Officer,  Chief Operating Officer, President, any Executive Vice President, Senior Vice President, Vice President or  Assistant Vice President, the Controller, the Treasurer, the Assistant Treasurer or the Secretary of the  Company Borrower.               “Officer’s Certificate”: a certificate signed on behalf of the Company Borrower by any one  Officer of the Company Borrower, who must be the principal executive officer, the principal financial  officer, the treasurer, the controller, the general counsel or the principal accounting officer of the Company  Borrower that meets the requirements set forth in this Agreement.               “Onex”:  Onex Corporation.               “Organizational Document”:  (i) relative to each Person that is a corporation, its charter  and its by-laws (or similar documents), (ii) relative to each Person that is a limited liability company, its  certificate of formation and its operating agreement (or similar documents), (iii) relative to each Person that  is a limited partnership, its certificate of formation and its limited partnership agreement (or similar  documents), (iv) relative to each Person that is a general partnership, its partnership agreement (or similar  document) and (v) relative to any Person that is any other type of entity, such documents as shall be  comparable to the foregoing.               “Other Applicable Indebtedness”: as defined in Section 2.6(c).               “Other Commitments”:  one or more Classes of term loan commitments hereunder that  result from a Refinancing Amendment.               “Other Loans”:  one or more Classes of Loans that result from a Refinancing Amendment.                                        -45-      

 

               “Other Obligations”: any principal, interest, penalties, fees, indemnifications,  reimbursements, damages and other liabilities payable under the documentation governing any  Indebtedness; provided that Other Obligations with respect to the Loans shall not include fees or  indemnification in favor of third parties other than the Secured Parties.               “Other Taxes”:  any and all present or future stamp or documentary, intangible, recording  or filing Taxes or similar excise or property 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 to the extent any such Taxes that are (i) imposed as a result of an  assignment by a Lender (an “Assignment Tax”), other than assignment requested by the Borrower, if such  Assignment Tax is imposed as a result of any present or former connection between the assignor or assignee  and the jurisdiction imposing such Assignment Tax (other than any connection arising from such recipient  having executed, delivered, become a party to, performed its obligations under, received payments under,  received or perfected a security interest under, engaged in any other transaction pursuant to, and/or  enforced, any Loan Documents), or (ii) Excluded Taxes.                “Outstanding Amount “:  with respect to the Loans on any date, the amount thereof after  giving effect to any borrowings and prepayments or repayments of Loans occurring on such date.               “Participant”:  as defined in Section 10.6(c).               “Participant Register”: as defined in Section 10.6(c).               “Patriot Act”:  the USA PATRIOT Improvement and Reauthorization Act, Pub. L. 109- 177 (signed into law March 9, 2009), as amended.               “PBGC”:  the Pension Benefit Guaranty Corporation established pursuant to Subtitle A of  Title IV of ERISA (or any successor).               “Percentage”:  as to any Lender at any time, the percentage which such Lender’s  Commitment then constitutes of the aggregate Commitments (or, at any time after the Amendment No. 4  Effective Date, the percentage which the aggregate principal amount of such Lender’s Loans then  outstanding constitutes of the aggregate principal amount of the Loans then outstanding).               “Permitted Acquisition”:  as defined in clause (23) of the definition of “Permitted  Investments.”               “Permitted Amendment”:  an amendment to this Agreement and the other Loan  Documents, effected in connection with a Loan Modification Offer pursuant to Section 2.22, providing for  an extension of the maturity date applicable to the Loans and/or Commitments of the Accepting Lenders  and, in connection therewith, (a) a change to the Applicable Margin with respect to the Loans and/or  Commitments of the Accepting Lenders and/or (b) a change to the fees payable to, or the inclusion of new  fees to be payable to, the Accepting Lenders.               “Permitted Asset Swap”:  the substantially concurrent purchase and sale or exchange of  Related Business Assets or a combination of Related Business Assets and cash or Cash Equivalents between  the Company Borrower or any of its Restricted Subsidiaries and another Person; provided that any cash or  Cash Equivalents received must be applied in accordance with Section 6.4.               “Permitted Auction Purchaser”:  the Company Borrower or Holdings.                                        -46-      

 

                 “Permitted Credit Agreement Refinancing Debt”:  (a) Permitted First Priority Refinancing   Debt, (b) Permitted Second Priority Refinancing Debt, (c) Permitted Unsecured Refinancing Debt or (d)   Indebtedness Incurred pursuant to a Refinancing Amendment, in each case, Incurred in exchange for, or to   extend, renew, replace or Refinance, in whole or part, existing Loans (including any successive Permitted   Credit Agreement Refinancing Debt) (any such extended, renewed, replaced or Refinanced Loans,   “Refinanced Credit Agreement Debt”); provided that (i) such extending, renewing or refinancing   Indebtedness 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   plus an amount equal to unpaid and accrued interest and premium thereon plus other reasonable and   customary fees and expenses (including upfront fees and original issue discount) and (ii) such Refinanced   Credit Agreement Debt shall be repaid, defeased or satisfied and discharged, and all accrued interest, fees   and premiums (if any) in connection therewith shall be paid, on the date such Permitted Credit Agreement   Refinancing Debt is Incurred.                “Permitted First Priority Refinancing Debt”:  any secured Indebtedness incurred by the   Borrower in the form of one or more series of senior secured notes or senior secured term loans (each, a   “First Priority Refinancing Facility”); provided that (i) such Indebtedness is secured by the Collateral on a   pari passu basis (but without regard to the control of remedies) with the Obligations, (ii) such Indebtedness  constitutes Permitted Credit Agreement Refinancing Debt in respect of Loans (including portions of Classes  of Loans, Other Loans or Incremental Loans) and (iii) such Indebtedness complies with the Permitted  Refinancing Requirements; provided that a certificate of a Responsible Officer delivered to the   Administrative Agent at least five Business Days (or such shorter period acceptable to the Administrative   Agent) prior to the incurrence of such Indebtedness, together with a reasonably detailed description of the   material terms and conditions of such Indebtedness or drafts of the documentation relating thereto, stating   that the Company Borrower has determined in good faith that such terms and conditions satisfy the   requirement of this definition shall be conclusive evidence that such terms and conditions satisfy such   requirement unless the Administrative Agent notifies the Company Borrower within such five Business   Day period that it disagrees with such determination (including a reasonable description of the basis upon   which it disagrees)).  Permitted First Priority Refinancing Debt will include any Registered Equivalent   Notes issued in exchange therefor.                “Permitted Holders”:  (1) (a) each of the Investors, (b) the Management Investors and their   respective Affiliates, (c) any Person who is acting solely as an underwriter in connection with a public or   private offering of Capital Stock of any parent entity of the Company Borrower or the Company Borrower,   acting in such capacity, (d) any investor who is a holder of Equity Interests of the Company Borrower (or   any of its direct or indirect parent companies) on the Amendment No. 4 Effective Date and (e) any group   (within the meaning of Section 13(d)(3) or Section 14(d)(2) of the Exchange Act or any successor provision)  of which any of the foregoing are members, provided that, in the case of such group and without giving  effect to the existence of such group or any other group, the Investors, the Management Investors and other  beneficial owners who were members of such group as of the Amendment No. 4 Effective Date,  collectively, have beneficial ownership of more than 50% of the total voting power of the Voting Stock of  the Company Borrower or any of its direct or indirect parent companies held by such group, or (2) any  Permitted Parent.                 “Permitted Investments”:                (1)   Investments by the Company Borrower or any Restricted Subsidiary thereof in any  other Restricted Subsidiary of the Company Borrower;                (2)   any Investment in cash and Cash Equivalents or Investment Grade Securities;                                         -47-        

 

                 (3)   [Reserved];                (4)   any Investment in securities, promissory notes or other assets, including earnouts,   not constituting Cash Equivalents or Investment Grade Securities and received in connection with an Asset   Sale made pursuant to Section 6.4 or any other disposition of assets not constituting an Asset Sale;                (5)   Investments existing on the Amendment No. 4 Effective Date or made pursuant to  binding commitments in effect on the Amendment No. 4 Effective Date (as replaced, Refinanced, refunded,  renewed or extended); provided the amount of any such Investment may be increased in such extension,   modification or renewal (a) as required by the terms of such Investment or binding commitment as in   existence on the Amendment No. 4 Effective Date (including as a result of the accrual or accretion of   interest or original issue discount or the issuance of pay-in-kind securities) or (b) as otherwise permitted  under this Agreement; provided, further, that any Investments in excess of $20,000,000 and existing on the   Amendment No. 4 Effective Date or made pursuant to binding commitments in effect on the Amendment   No. 4 Effective Date shall be set forth on Schedule 6.2;                (6)   loans and advances to, and guarantees of Indebtedness of, officers, members of the   board of directors and employees of the Company Borrower (or any of its direct or indirect parent   companies) or a Restricted Subsidiary thereof not in excess of $10,000,000 outstanding at any one time, in   the aggregate;                (7)   any Investment acquired by the Company Borrower or any of its Restricted   Subsidiaries (a) in exchange for any other Investment or accounts receivable held by the Company   Borrower or any such Restricted Subsidiary in connection with or as a result of a bankruptcy, workout,   reorganization or recapitalization of the Company Borrower of such other Investment or accounts   receivable (b) received in connection with the bankruptcy or reorganization of suppliers and customers or  upon the foreclosure with respect to any secured Investment or other transfer of title with respect to any  secured Investment), (c) in good faith settlement of delinquent obligations of, and other disputes with  Persons who are not Affiliates, (d) in satisfaction of judgments against other Persons, (e) as a result of a  foreclosure by the Company Borrower or any of its Restricted Subsidiaries with respect to any secured  Investment or other transfer of title with respect to any secured Investment in default or (f) consisting of  extensions of trade credit and accommodation guarantees in the ordinary course of business including  extensions of credit in the nature of accounts receivable or notes receivable arising from the grant of trade  credit;               (8)   Hedging Obligations incurred in the ordinary course of business and not for  speculative purposes;               (9)   additional Investments by the Company Borrower or any of its Restricted  Subsidiaries having an aggregate Fair Market Value (being measured at the time such Investment is made  and without giving effect to subsequent changes in value), taken together with all other Investments made  pursuant to this clause (9), not to exceed the greater of $100,000,000 and 3.50% of Total Assets (at the time  such Investment is made) in the aggregate at any time outstanding;               (10)  loans and advances to (or guarantees of Indebtedness of) officers, directors and  employees for business related travel expenses (including entertainment expense), moving and relocation  expenses, tax advances, payroll advances and other similar expenses, in each case Incurred in the ordinary  course of business or consistent with past practice or to fund such Person’s purchase of Equity Interests of  the Company Borrower or any direct or indirect parent company thereof under compensation plans  approved by the Board of Directors of the Company Borrower (or any direct or indirect parent company  thereof) in good faith;                                        -48-        

 

                 (11)  Investments and other acquisitions the payment for which consists of Equity  Interests of the Company Borrower (other than Disqualified Stock) or any direct or indirect parent of the  Company Borrower, as applicable; provided, however, that such Equity Interests will not increase the   amount available for Restricted Payments under Section 6.2(a)(3);                (12)  (a) any transaction to the extent it constitutes an Investment that is permitted by  and made in accordance with the provisions of Section 6.5 (except transactions described in clauses (b)(ii),   (b)(v), (b)(ix)(B), (b)(xxiii) and (b)(xxiv) therein), (b) the creation of Liens on the assets of the Company   Borrower or any Restricted Subsidiary in compliance with Section 6.6 and (c) Restricted Payments   permitted under Section 6.2 (other than by reference to this clause (12));                (13)  Investments consisting of the licensing or contribution of intellectual property  pursuant to joint marketing arrangements with other Persons;                (14)  guarantees issued in accordance with Section 6.1 (except clause (xxv)(B));                (15)  any Investment by the Company Borrower or any Company Guarantor in the  Company Borrower (in the case of any Company Guarantor) or other Company Guarantors and Investments  by Restricted Subsidiaries that are not Company Guarantors in other Restricted Subsidiaries that are not  Company Guarantors;                (16)  Investments consisting of purchases and acquisitions of inventory, supplies,  materials and equipment or purchases of contract rights or licenses of other assets, intellectual property,  receivables owing to the Company Borrower or any Restricted Subsidiary or other rights in each case in  the ordinary course of business;                (17)  Investments resulting from the receipt of non-cash consideration in an Asset Sale  received in compliance with Section 6.4 or any other disposition of assets not constituting an Asset Sale;                (18)  Investments in joint ventures of the Company Borrower or any of its Restricted  Subsidiaries having an aggregate Fair Market Value (being measured at the time such Investment is made  and without giving effect to subsequent changes in value), taken together with all other Investments made  pursuant to this clause (18), not to exceed the greater of $20,000,000 and 0.90% of Total Assets (at the time   such Investment is made) in the aggregate at any time outstanding;                (19)  Investments of a Restricted Subsidiary of the Company Borrower acquired after  the Closing Date or of an entity merged into or consolidated with a Restricted Subsidiary of the Company  Borrower in a transaction that is not prohibited by Section 6.7 after the Closing Date 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;                (20)  advances, loans, rebates and extensions of credit (including the creation of  receivables) to suppliers, customers and vendors, and performance guarantees, in each case in the ordinary  course of business;                (21)  the acquisition of assets or Capital Stock solely in exchange for the issuance of  common equity securities of the Company Borrower;               (22)   Investments in any Similar Business having an aggregate Fair Market Value (being  measured at the time such Investment is made and without giving effect to subsequent changes in value),                                         -49-        

 

     taken together with all other Investments made pursuant to this clause (22), not to exceed the greater of   $100,000,000 and 3.50% of Total Assets (at the time such Investment is made) in the aggregate; and                (23)  any Investment by the Company Borrower or any Restricted Subsidiary thereof of  the majority of the Capital Stock of Persons or of assets constituting a division or business unit of, or product  line or line of business, including research and development and related assets in respect of any product, or  all or substantially all of the assets of a Person (each a “Permitted Acquisition”); provided that (i) no Default   or Event of Default has occurred or is continuing both before and after giving effect to such Permitted   Acquisition; provided that, in the case of any Limited Condition Transaction, such condition shall be limited   to any Event of Default under Section 8.1(a) or 8.1(g), (ii) the line of business of the acquired entity shall   be similar, ancillary, complementary or related to, or a reasonable extension, development or expansion of,   the businesses conducted by the Company Borrower and its Restricted Subsidiaries, (iii) any Person   acquired shall become, and any Person acquiring assets shall be, and each Subsidiary of such Person shall   become, a Restricted Subsidiary of Holdings (unless any such Person is designated as an Unrestricted   Subsidiary) and (iv) Holdings, the Company Borrower or such Restricted Subsidiary, as applicable, shall  take, and shall cause such Person to take, all actions required under Section 5.9 in connection therewith;                (24)  [Reserved];                (25)  Investments in Unrestricted Subsidiaries having an aggregate Fair Market Value,  taken together with all other Investments made pursuant to this clause (25) that are at the time outstanding,   without giving effect to the sale of an Unrestricted Subsidiary to the extent the proceeds of such sale do not   consist of cash or marketable securities, not to exceed the greater of $100,000,000 and 3.50% of Total   Assets (at the time such Investment is made) in the aggregate at any time outstanding;                 (26)  the creation of Liens on the assets of the Company Borrower or any Restricted   Subsidiary in compliance with Section 6.2 and Restricted Payments permitted under Section 6.2 (other than   by reference to this clause (26));                (27)  Investments relating to a Receivables Subsidiary that, in the good faith   determination of the Company Borrower are necessary or advisable to effect any Receivables Facility,   distributions or payments of Receivables Fees or any repurchase obligation connection therewith including,   without limitation, Investments of funds held in accounts permitted or required by the arrangements   governing such Receivables Facilities or any related Indebtedness;                (28)  any other Investment; provided that on a pro forma basis after giving effect to such   Investment the Total Net Leverage Ratio would be equal to or less than 3.50 to 1.00;                (29) Investments in the ordinary course of business consisting of UCC Article 3  endorsements for collection or deposit and UCC Article 4 customary trade arrangements with customers in  the ordinary course of business;               (30)   Investments (A) for utilities, security deposits, leases and similar prepaid expenses   incurred in the ordinary course of business and (B) trade accounts created, or prepaid expenses accrued, in   the ordinary course of business;                (31)  non-cash Investments in connection with tax planning and reorganization  activities; provided that after giving effect to any such activities, the security interests of the Administrative   Agent, for the benefit of the Lenders and the other Secured Parties, taken as a whole, would not be materially  impaired;                                          -50-        

 

                 (32)  loans and advances to direct and indirect parent companies of the Company  Borrower (x) in lieu of, and not in excess of the amount of (after giving effect to any other loans, advances  or Restricted Payments in respect thereof), Restricted Payments to the extent permitted to be made to such  companies in accordance with Section 6.2 and (y) to the extent the proceeds thereof are contributed or   loaned or advanced to another Restricted Subsidiary;                 (33) any Investment in any Subsidiary or any joint venture in connection with  intercompany cash management arrangements or related activities arising in the ordinary course of  business;                 (34) Investments by an Unrestricted Subsidiary entered into prior to the day such  Unrestricted Subsidiary is redesignated as a Restricted Subsidiary pursuant to the definition of “Unrestricted  Subsidiary” to the extent such Investments were not made in contemplation of such redesignation; and                (35) Investments in the ordinary course of business in connection with Settlements; and                (36) Investments made in the ordinary course of business in connection with obtaining,  maintaining or renewing client contacts and loans or advances made to distributors in the ordinary course  of business.         For purposes of this Agreement, any Investment shall be determined on the date such Investment  is made, with the Fair Market Value of each Investment being measured at the time made and without  giving effect to subsequent changes in value.                “Permitted Investors”:  the collective reference to the Sponsor, the Management   Stockholders and each other Person that is an investor in Holdings or the immediate parent of Holdings on   the Closing Date.                “Permitted Liens”: with respect to any Company Group Member:                (1)   pledges or deposits by such Person in connection with (a) workers’ or workmen’s  compensation, employment or unemployment insurance and other types of employers’ health tax, social  security, retirement and other similar legislation, employee source deductions, goods and services taxes,  sales taxes, municipal taxes, corporate taxes and pension fund obligations or other insurance-related   obligations (including, but not limited to, in respect of deductibles, self-insured retention amounts and  premiums and adjustments thereto), (b) securing liability for reimbursement or indemnification obligations  of (including obligations in respect of letters of credit or bank guarantees or similar instrument for the  benefit of) insurance carriers providing property, casualty or liability insurance to the Company Borrower  or any Restricted Subsidiary or otherwise supporting the payment of items set forth in the foregoing clause  (a) or (c), or good faith deposits, prepayments or cash pledges in connection with bids, tenders, contracts  (other than for the payment of Indebtedness) or leases to which such Person is a party, performance and  return of money bonds and other similar obligations incurred in the ordinary course of business, or deposits  to secure public or statutory obligations of such Person or deposits of cash or U.S. government bonds to  secure surety, stay, customs or appeal bonds or statutory bonds to which such Person is a party, or deposits  as security for contested taxes or import duties or for the payment of rent, in each case Incurred in the  ordinary course of business;               (2)   Liens with respect to outstanding motor vehicle fines and Liens arising or imposed  by law, such as landlords’, carriers’, warehousemen’s, mechanics’, materialmen’s, repairmen’s or   construction contractors’ Liens and other similar Liens, in each case for sums which have not yet been due   or payable for more than 30 days or which are being contested in good faith by appropriate proceedings or                                         -51-        

 

     other Liens arising out of judgments or awards against such Person with respect to which such Person shall   then be proceeding with an appeal or other proceedings for review (or which, if due and payable, are being   contested in good faith by appropriate proceedings and for which adequate reserves are being maintained,   to the extent required by GAAP);               (3)   Liens for taxes, assessments or other governmental charges (i) which are not yet  overdue for more than thirty (30) days, (ii) which are not yet payable or subject to penalties for nonpayment  or (iii) which are being contested in good faith by appropriate proceedings for which adequate reserves are  being maintained to the extent required by GAAP;               (4)   Liens incurred or deposits made to secure the performance of bids, trade contracts,  governmental contracts and leases, statutory obligations, surety, stay, customs and appeal bonds,  performance bonds, bankers’ acceptance facilities and other obligations of a like nature (including those to  secure health, safety and environmental obligations) and obligations in respect of letters of credit, bank   guarantees or similar instruments that have been posted to support the same, in each case incurred in the   ordinary course of business or consistent with past practices;               (5)   (a) survey exceptions, encumbrances, easements, ground leases, covenants,   conditions, rights-of-way, licenses, servitudes, restrictions, encroachments, protrusions, by-law, or   reservations of, or rights of others for sewers, electric lines, telegraph and telephone lines and other similar   purposes, or zoning, building code or other restrictions (including defects and irregularities in title and   similar encumbrances) and other similar encumbrances and title defects or irregularities affecting real   property, that, in the aggregate, do not materially interfere with the ordinary conduct of the business of the   Company Borrower and its Restricted Subsidiaries, taken as a whole, (b) rights of recapture of unused real   property in favor of the seller of property set forth in customary purchase agreements and related   arrangements with any governmental authority, (c) Liens arising from the right of distress enjoyed by   landlords or Liens otherwise granted to landlords, in either case, to secure the payment of arrears of rent in   respect of leased properties, so long as such Liens are not exercised, (d) servicing agreements, development   agreements, site plan agreements and other agreements with any governmental authority pertaining to the   use or development of any of the assets of the Person, provided that the same are complied with in all   material respects and do not materially reduce the value of the assets of the Person or materially interfere   with the use in the operation of the business of such Person, (e) the reservations in any original grants from   the crown of any land or interest therein and statutory exceptions to title and (f) other Liens on real property   (including ground leases in respect of real property on which facilities owned or leased by the Company   Borrower or any of the Restricted Subsidiaries are located);                (6)   Liens Incurred to secure Other Obligations in respect of Indebtedness permitted to  be Incurred pursuant to Section 6.1(b)(i), (b)(ii), (b)(iv), (b)(vi), (b)(vii), (b)(xiv), (b)(xv) or (b)(xvi);   provided that, (A) in the case of Section 6.1(b)(vii), such Lien extends only to the assets and/or Capital   Stock, the acquisition, lease, construction, repair, replacement or improvement of which is financed thereby   and any replacements, additions and accessions thereto and any income or profits thereof, (B) in the case   of Section 6.1(b)(iv) and (b)(vi), such Indebtedness complies with the Applicable Requirements, (C) in the   case of Section 6.1(b)(xv), such guarantee may only be subject to Liens to the extent the underlying   Indebtedness may be subject to any Liens, (D) in the case of Section 6.1(b)(ii), such Indebtedness is secured   only by Liens on Collateral and is subject to the ABL-Term Intercreditor Agreement and (F) in the case of   Section 6.1(b)(xiv) such Indebtedness complies with clause (b) of the Applicable Requirements;                (7)   Liens existing on the Amendment No. 4 Effective Date; provided, that any Liens   securing Indebtedness or other obligations in excess of $20,000,000 shall be set forth on Schedule 6.6;                                          -52-        

 

                 (8)   Liens on assets, property or shares of stock of a Person at the time such Person  becomes a Subsidiary; provided, however, that such Liens are not created or Incurred in connection with,   or in contemplation of, such other Person becoming such a Subsidiary; provided, further, however, that   such Liens may not extend to any other property or other assets owned by the Company Borrower or any   Restricted Subsidiary of the Company Borrower (other than any replacements of such property or assets   and additions and accessions thereto, the proceeds or products thereof and other than after-acquired property   subject to a Lien securing Indebtedness and other obligations incurred prior to such time and which   Indebtedness and other obligations are permitted under this Agreement that require or include, pursuant to   their terms at such time, a pledge of after-acquired property, it being understood that such requirement shall   not be permitted to apply to any property to which such requirement would not have applied but for such   acquisition);                (9)   Liens on assets or on property at the time the Company Borrower or a Restricted  Subsidiary of the Company Borrower acquired such assets or property, including any acquisition by means  of a merger or consolidation with or into the Company Borrower or any Restricted Subsidiary of the  Company Borrower; provided, however, that such Liens are not created or Incurred in connection with, or   in contemplation of, such acquisition; provided, further, however, that the Liens may not extend to any   other assets or property owned by the Company Borrower or any Restricted Subsidiary of the Company   Borrower (other than the proceeds or products of such assets or property or shares of stock or improvements   thereon);                (10)  Liens securing Indebtedness or other obligations of a Restricted Subsidiary owing  to the Company Borrower or another Restricted Subsidiary of the Company Borrower permitted to be  Incurred pursuant to Section 6.1;                (11)  (a) Liens securing Hedging Obligations or on cash or Cash Equivalents securing   Hedging Obligations; provided that, with respect to Hedging Obligations relating to Indebtedness, such   Indebtedness is permitted under this Agreement and (b) Liens on cash and Cash Equivalents used to satisfy   or discharge Indebtedness; provided such satisfaction or discharge is permitted under this Agreement;                (12)  Liens on specific items of inventory or other goods and proceeds of any Person  securing such Person’s accounts payable or obligations in respect of bankers’ acceptances or trade letters  of credit issued or created for the account of such Person to facilitate the purchase, shipment or storage of  such inventory or other goods;                (13)  leases, licenses, subleases and sublicenses of assets (including real property and  intellectual property rights) in the ordinary course of business or consistent with past practice which  do not  materially interfere with the operation of the business of the Company Borrower or any of its Restricted  Subsidiaries;                (14)  Liens arising from UCC financing statement filings regarding operating leases   entered into by the Company Borrower and its Restricted Subsidiaries in the ordinary course of business   and other Liens arising solely from precautionary UCC financing statements or similar filings;                (15)  Liens in favor of the Company Borrower or any Company Guarantor;                (16)  deposits made in the ordinary course of business to secure liability to insurance   carriers, companies and brokers;                (17)  Liens on the Equity Interests of Unrestricted Subsidiaries and joint ventures that   are not Restricted Subsidiaries of Holdings;                                         -53-        

 

                 (18)  grants of software and other technology licenses in the ordinary course of business;                (19)  judgment and attachment Liens not giving rise to an Event of Default and notices  of lis pendens and associated rights related to litigation being contested in good faith by appropriate  proceedings and for which adequate reserves have been made;               (20)   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 and Liens on insurance  policies and the proceeds thereof securing the financing of the premiums with respect thereto;               (21)  Liens Incurred to secure Cash Management Obligations in the ordinary course of  business;               (22)  Liens on equipment of the Company Borrower or any Restricted Subsidiary of the  Company Borrower granted in the ordinary course of business to the Company Borrower’s or such  Restricted Subsidiary’s client at which such equipment is located;                (23)  Liens to secure any modification, refinancing, refunding, extension, renewal or  replacement (or successive refinancings, refundings, extensions, renewals or replacements) as a whole, or  in part, of any Indebtedness secured by any Lien referred to in clauses (6), (7), (8), (9), (10), (15), (23)  (solely with respect to Liens originally incurred under clauses (6), (7), (8), (9), (10), (15), (24), (33) and  (44)), (24) and (38) of this definition of “Permitted Liens;” provided, however, that (x) such new Lien shall   be limited to all or part of the same property that secured the original Lien (plus proceeds or products of   such property or improvements on such property) and the proceeds and products thereof, and (y) the   Indebtedness secured by such Lien at such time is not increased to any amount greater than the sum of (A)   the outstanding principal amount or, if greater, committed amount of the Indebtedness described under   clauses (6), (7), (8), (9), (10), (15),  (24), (38) and (44) of this definition of “Permitted Liens” at the time   the original Lien became a Permitted Lien under this Agreement, and (B) an amount necessary to pay   accrued and unpaid interest, any fees and expenses, including any premium and defeasance costs, related   to such modification, refinancing, refunding, extension, renewal or replacement;                (24)  other Liens; provided, that at the time of the granting thereof and after giving pro   forma effect thereto, the lesser of (x) the aggregate outstanding Indebtedness secured by Liens existing in   reliance on this clause (24) and (y) the fair market value of the assets securing such obligations shall not   exceed the greater of (A) $125,000,000 and (B) 4.25% of Total Assets determined as of the date of   incurrence;                (25)  Liens (a) on cash advances or escrow deposits in favor of the seller of any property   (including equipment and inventory) to be acquired in an Investment permitted under this Agreement to be   applied against the purchase price for such Investment or otherwise in connection with any escrow   arrangements with respect to any such Investment or any Asset Sale permitted under this Agreement   (including any letter of intent or purchase agreement with respect to such Investment or Asset Sale), (b)   consisting of an agreement to dispose of any property in an Asset Sale permitted under this Agreement, in   each case, solely to the extent such Investment or Asset Sale, as the case may be, would have been permitted   on the date of the creation of such Lien and (c) solely on any cash earnest money deposits made by the   Company Borrower or any of its Restricted Subsidiaries in connection with any letter of intent or purchase   agreement permitted under this Agreement;                (26)  Liens on receivables and related assets including proceeds thereof being sold in  factoring arrangements entered into in the ordinary course of business;                                         -54-        

 

                 (27)  Liens that are contractual rights of set-off (i) relating to the establishment of   depository relations with banks not given in connection with the issuance of Indebtedness, (ii) relating to   pooled deposit or sweep accounts of the Company Borrower or any of its Restricted Subsidiaries to permit   satisfaction of overdraft or similar obligations incurred in the ordinary course of business of the Company   Borrower and its Restricted Subsidiaries or (iii) relating to purchase orders and other agreements entered   into with customers of the Company Borrower or any of its Restricted Subsidiaries in the ordinary course   of business;               (28)   Liens encumbering reasonable customary initial deposits and margin deposits and  similar Liens attaching to commodity trading accounts or other brokerage accounts incurred in the ordinary  course of business and not for speculative purposes;                (29)  Liens deemed to exist in connection with Investments in repurchase agreements  permitted under Section 6.1; provided that such Liens do not extend to any assets other than those assets   that are the subject of such repurchase agreement;                (30)  restrictions on dispositions of assets to be disposed of pursuant to merger  agreements, stock or asset purchase agreements and similar agreements;                (31)  customary options, put and call arrangements, rights of first refusal and similar   rights relating to Investments in joint ventures and partnerships;                (32)  any amounts held by a trustee in the funds and accounts under an indenture  securing any revenue bonds issued for the benefit of the Company Borrower or any Restricted Subsidiary  thereof;                (33)  Liens (i) 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 or (ii) on specific items of  inventory or other goods and proceeds of any Person securing such Person’s obligations in respect of  bankers’ acceptances or letters of credit issued or created for the account of such Person to facilitate the  purchase, shipment or storage of such inventory or other goods in the ordinary course of business;                (34)  Liens (i) of a collection bank arising under applicable law, including Section 4- 210 of the UCC, or any comparable or successor provision, on items in the course of collection; (ii)  attaching to a pooling, commodity or securities trading accounts or other commodity or securities brokerage  accounts incurred in the ordinary course of business; or (iii) in favor of a banking or other financial  institution or entity, or electronic payment service provider arising as a matter of law or under customary  terms and conditions encumbering deposits or other funds maintained with a financial institution (including  the right of set-off) and which are within the general parameters customary in the banking or finance  industry or arising pursuant to such banking or financial institution’s general terms and conditions  (including Liens in favor of deposit banks or securities intermediaries securing customary fees, expenses  or charges in connection with the establishment, operation or maintenance of deposit accounts or securities  accounts);               (35)  Liens solely on any cash earnest money deposits made in connection with any letter  of intent or purchase agreement in connection with an Investment permitted hereunder;               (36)  customary Liens on deposits required in connection with the purchase of property,  equipment and inventory, in each case incurred in the ordinary course of business;                                          -55-        

 

                 (37)  Liens securing the Obligations created pursuant to any Loan Document, any  Specified Swap Agreement and any Specified Cash Management Agreement;               (38)   Liens securing or arising pursuant to Sale Leaseback Transactions;                 (39)  Liens on assets of Non-Guarantor Subsidiaries, provided such Liens secure   obligations of Non-Guarantor Subsidiaries that are otherwise permitted hereunder and such Liens only   encumber assets of such Non-Guarantor Subsidiaries;                (40)  Liens on accounts receivable and related assets incurred in connection with a  Receivables Facility;               (41)  Liens securing, or otherwise arising from, judgments for the payment of money  not constituting an Event of Default under Section 8.1(h) and notices of lis pendens and associated rights  related to litigation being contested in good faith by appropriate proceedings and for which adequate  reserves have been made;                (42) Liens deemed to exist in connection with Investments in repurchase agreements  permitted under the covenant described under Section 6.1 including Liens deemed to exist in connection  with Investments in repurchase agreements under clause (4) of the definition of the term Cash Equivalents;  provided that such Liens do not extend to any assets other than those that are the subject of such repurchase   agreement;                 (43) Liens that are contractual rights of setoff, banker’s lien, netting agreements and other  Liens (a) relating to Cash Management Services, deposit accounts, securities accounts, cash management  arrangements or in connection with the issuance of Indebtedness, including letters of credit, bank guarantees  or other similar instruments, (b) relating to pooled deposit or sweep accounts to permit satisfaction of  overdraft or similar obligations incurred in the ordinary course of business of the Company Borrower and  its Restricted Subsidiaries or (c) relating to purchase orders and other agreements entered into with  customers of the Company Borrower or any of its Restricted Subsidiaries, in each case in the ordinary  course of business;                 (44) Liens securing Indebtedness secured by the Collateral on a pari passu basis (but   without regard to the control of remedies) with the Obligations permitted to be Incurred pursuant to the   covenant described under Section 6.1 if, at the time of Incurrence of such Indebtedness on a pro forma   basis, (i) the Total Net Secured Leverage Ratio would not exceed 3.50 to 1.00 and (ii) the Company   Borrower could incur $1.00 of additional Indebtedness under Section 6.1(a);                (45) Settlement Liens;                (46) Liens on goods the purchase price of which is financed by a documentary letter of  credit issued for the account of the Company Borrower or any of its Subsidiaries or Liens on bills of lading,  drafts or other documents of title arising by operation of law or pursuant to the standard terms of agreements  relating to letters of credit, bank guarantees and other similar instruments; provided that such Lien secures   only the obligations of the Company Borrower or such Subsidiaries in respect of such letter of credit to the   extent such obligations are permitted by Section 6.1;                (47) Receipt of progress payments and advances from customers in the ordinary course of  business to the extent the same creates a Lien on the related inventory and proceeds thereof; and                                          -56-        

 

                 (48) the rights reserved or vested in any Person by the terms of any lease, license, franchise,  grant or permit held by the Company Borrower or any Restricted Subsidiary thereof or by a statutory  provision, to terminate any such lease, license, franchise, grant or permit, or to require annual or periodic  payments as a condition to the continuance thereof.               The Company Borrower may classify (or later reclassify) any Lien in one or more of the  above categories (including in part in one category and in part in another category).  For purposes of this  definition, the term “Indebtedness” shall be deemed to include interest on such Indebtedness.                “Permitted Parent” means any direct or indirect parent entity of the Company Borrower   (other than a Person formed in connection with, or in contemplation of, a Change of Control transaction   that results in a modification of the beneficial ownership of the Company Borrower) that beneficially owns   100% of the issued and outstanding voting stock of the Company Borrower, provided that the ultimate   beneficial ownership of the Company Borrower has not been modified by the transaction by which such  parent entity became the beneficial owner of 100% of the voting stock of the Company Borrower.                “Permitted Refinancing Requirements”:  with respect to any Indebtedness incurred by the   Borrower to Refinance, in whole or part, any other Indebtedness (such other Indebtedness, “Refinanced   Debt”):                (a)   with respect to all such Indebtedness:                      (i)   the other terms and conditions of such Indebtedness (excluding pricing,        fees, rate floors and optional prepayment or redemption terms) are substantially identical to, or        (taken as a whole) are no more favorable to, the providers of such Indebtedness than those        applicable to the Refinanced Debt (except for financial covenants or other covenants or provisions        applicable only to periods after the Latest Maturity Date at the time of such Refinancing, as may        be agreed by the Company Borrower and the providers of such Indebtedness);                     (ii)  if such Indebtedness is guaranteed, it is not guaranteed by any Restricted        Subsidiary other than the Subsidiary Guarantors; and                      (iii) the proceeds of such Indebtedness are applied, substantially concurrently        with the incurrence thereof, to the pro rata prepayment of the outstanding amount of the Refinanced         Debt;                (b)   if such Indebtedness constitutes Refinancing Debt:                      (i)   except in the case of any Designated Earlier Maturing Debt, such        Indebtedness does not mature or have scheduled amortization or payments of principal and is not        subject to mandatory redemption or prepayment (except customary asset sale or change of control        provisions), in each case prior to the date that is 91 days after the then Latest Maturity Date at the        time such Indebtedness is incurred;                     (ii)  except in the case of any Designated Earlier Maturing Debt, such        Indebtedness does not have a shorter Weighted Average Life to Maturity than the Refinanced Debt;        and                     (iii) such Indebtedness shares not greater than ratably in (or, if such        Indebtedness constitutes Permitted Unsecured Refinancing Debt or Permitted Second Priority                                         -57-        

 

         Refinancing Debt, on a junior basis with respect to) any voluntary or mandatory prepayments of        any Loans then outstanding; and               (c)   if such Indebtedness is secured:                     (i)   such Indebtedness is not secured by any assets other than the Collateral (it       being understood that such Indebtedness shall not be required to be secured by all of the Collateral);       provided that Indebtedness that may be incurred by Non-Guarantor Subsidiaries pursuant to Section        6.1 may be secured by assets of Non-Guarantor Subsidiaries; and                     (ii) a Senior Representative acting on behalf of the providers of such       Indebtedness shall have become party to an Intercreditor Agreement (or any Intercreditor       Agreement shall have been amended or replaced in a manner reasonably acceptable to the       Administrative Agent, which results in such Senior Representative having rights to share in the       Collateral as provided in the definition of Permitted First Priority Refinancing Debt, in the case of       Permitted First Priority Refinancing Debt, or in the definition of Permitted Second Priority       Refinancing Debt, in the case of Permitted Second Priority Refinancing Debt).               “Permitted Second Priority Refinancing Debt”:  any secured Indebtedness incurred by the  Borrower in the form of one or more series of junior lien secured notes or junior lien secured term loans  (each, a “Second Priority Refinancing Facility”); provided that (i) such Indebtedness is secured by the  Collateral on a junior lien, subordinated basis (with respect to liens only) to the Obligations and the  obligations in respect of any Permitted First Priority Refinancing Debt, (ii) such Indebtedness constitutes  Permitted Credit Agreement Refinancing Debt in respect of Loans (including portions of Classes of Loans,  Other Loans or Incremental Loans) and (iii) such Indebtedness complies with the Permitted Refinancing  Requirements; provided that a certificate of a Responsible Officer delivered to the Administrative Agent at  least five Business Days (or such shorter period acceptable to the Administrative Agent) prior to the  incurrence of such Indebtedness, together with a reasonably detailed description of the material terms and  conditions of such Indebtedness or drafts of the documentation relating thereto, stating that the Company  Borrower has determined in good faith that such terms and conditions satisfy the requirement of this  definition shall be conclusive evidence that such terms and conditions satisfy such requirement unless the  Administrative Agent notifies the Company Borrower within such five Business Day period that it disagrees  with such determination (including a reasonable description of the basis upon which it disagrees)).   Permitted Second Priority Refinancing Debt will include any Registered Equivalent Notes issued in  exchange therefor.               “Permitted Tax Distributions”:  payments made pursuant to Section 6.2(b)(xii).               “Permitted Unsecured Refinancing Debt”:  any unsecured Indebtedness incurred by the  Borrower in the form of one or more series of senior unsecured notes or term loans (each, an “Unsecured  Refinancing Facility”); provided that (i) such Indebtedness constitutes Permitted Credit Agreement  Refinancing Debt in respect of Loans (including portions of Classes of Loans, Other Loans or Incremental  Loans) and (ii) such Indebtedness complies with the Permitted Refinancing Requirements; provided that a  certificate of a Responsible Officer delivered to the Administrative Agent at least five Business Days (or a  shorter period acceptable to the Administrative Agent) prior to the incurrence of such Indebtedness, together  with a reasonably detailed description of the material terms and conditions of such Indebtedness or drafts  of the documentation relating thereto, stating that the Company Borrower has determined in good faith that  such terms and conditions satisfy the requirement of this definition shall be conclusive evidence that such  terms and conditions satisfy such requirement unless the Administrative Agent notifies the Company  Borrower within such five Business Day period that it disagrees with such determination (including a                                        -58-      

 

   reasonable description of the basis upon which it disagrees)).  Permitted Unsecured Refinancing Debt will  include any Registered Equivalent Notes issued in exchange therefor.               “Person”:  any natural person, corporation, limited partnership, general partnership, limited  liability company, limited liability partnership, joint venture, association, joint stock company, trust, bank  trust company, land trust, business trust, unincorporated organization, government or any agency or  political subdivision thereof or any other entity whether legal or not.               “Plan”:  at a particular time, any employee benefit plan that is covered by Title IV of ERISA  and in respect of which the Company Borrower 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.               “Platform”:  as defined in Section 5.2(a).               “Preferred Stock”: any Equity Interest with preferential right of payment of dividends or  redemptions upon liquidation, dissolution, or winding up.               “Prime Rate”:  the rate of interest per annum announced from time to time by Bank of  America as its prime rate in effect at its principal office in New York City (the Prime Rate not being  intended to be the lowest rate of interest charged by Bank of America in connection with extensions of  credit to debtors).               “Private Lender Information”:  any information and documentation that is not Public  Lender Information.               “Pro Forma Basis”:  for the purposes of calculating Consolidated EBITDA for any period  of four consecutive fiscal quarters (each, a “Reference Period”), (i) if, at any time during such Reference  Period, the Company Borrower or any Restricted Subsidiary shall have made any Disposition, the  Consolidated EBITDA for such Reference Period shall be reduced by an amount equal to the Consolidated  EBITDA (if positive) attributable to the property that is the subject of such Disposition for such Reference  Period or increased by an amount equal to the Consolidated EBITDA (if negative) attributable thereto for  such Reference Period and (ii) if, during such Reference Period, the Company Borrower or any Restricted  Subsidiary shall have made an acquisition of assets constituting at least a division of a business unit of, or  all or substantially all of the assets of, any Person, Consolidated EBITDA for such Reference Period shall  be calculated after giving pro forma effect thereto as if such acquisition of assets constituting at least a  division of a business unit of, or all or substantially all of the assets of, any Person, occurred on the first  day of such Reference Period (including, in each such case, such pro forma adjustments relating to a specific  transaction or event and reflective of actual or reasonably anticipated synergies and cost savings expected  to be realized or achieved in the twenty-four months following such transaction or event, which pro forma  adjustments shall be certified by the chief financial officer, treasurer, controller or comptroller of the  Company Borrower; provided that, such adjustments shall not exceed the percentage-limitations thereon,  if any, set forth in the definition of “Consolidated EBITDA.”  The term “Disposition” in this definition  shall not include dispositions of inventory and other ordinary course dispositions of property.               “Pro Rata Share”:  with respect to (i) any Facility, and each Lender and such Lender’s share  of all Commitments or Loans under such Facility, at any time a fraction (expressed as a percentage, carried  out to the ninth decimal place), the numerator of which is the amount of the Commitments of such Lender  under such Facility at such time and the denominator of which is the amount of the aggregate Commitments  under such Facility at such time; provided that if any Loans are outstanding under such Facility, then the  Pro Rata Share of each Lender shall be a fraction (expressed as a percentage, carried out to the ninth decimal                                        -59-      

 

     place), the numerator of which is the amount of the Loans of such Lender under such Facility at such time   and the denominator of which is the amount of the aggregate Loans at such time; provided, further, that if   all Loans under such Facility have been repaid, then the Pro Rata Share of each Lender under such Facility   shall be determined based on the Pro Rata Share of such Lender under such Facility immediately prior to   such repayment and (ii) with respect to each Lender and all Loans and Outstanding Amounts at any time a   fraction (expressed as a percentage, carried out to the ninth decimal place), the numerator of which is the   Outstanding Amount with respect to Loans and Commitments of such Lender at such time and the   denominator of which is the Outstanding Amount (in aggregate); provided that if all Outstanding Amounts   have been repaid or terminated, then the Pro Rata Share of each Lender shall be determined based on the   Pro Rata Share of such Lender immediately prior to such termination and after giving effect to any   subsequent assignments made pursuant to the terms hereof.                “Properties”:  as defined in Section 3.13(a).                “PTE” means a prohibited transaction class exemption issued by the U.S. Department of   Labor, as any such exemption may be amended from time to time.                “Public Lender Information”:  information and documentation that is either exclusively (i)   of a type that would be publicly available if the Borrower, Holdings and their respective Subsidiaries were   public reporting companies or (ii) not material with respect to the Borrower, Holdings and their respective   Subsidiaries or any of their respective securities for purposes of foreign, United States Federal and state   securities laws.                “Public Market”:  at any time after (a) a Public Offering has been consummated and (b) at   least 15.0% of the total issued and outstanding common equity of Holdings or Holdings’ direct or indirect   parent has been distributed by means of an effective registration statement under the Securities Act or sale   pursuant to Rule 144 under the Securities Act.                “Public Offering”:  an initial underwritten public offering of common Capital Stock of   Holdings or Holdings’ direct or indirect parent pursuant to an effective registration statement filed with the   SEC in accordance with the Securities Act (other than a registration statement on Form S-8 or any successor  form).                “Purchase”:  as defined in the definition of “Dutch Auction.”                “Purchase Notice”:  as defined in the definition of “Dutch Auction.”                “Purchaser”:  as defined in the definition of “Dutch Auction.”                “Qualified Counterparty”:  any Person that, as of the Closing Date or as of the date it enters   into any Specified Swap Agreement, is a Lender, a Joint Lead Arranger or the Administrative Agent or an   Affiliate of a Lender, a Joint Lead Arranger or the Administrative Agent in its capacity as a counterparty to   such Specified Swap Agreement.                “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.                                          -60-        

 

                 “Receivables Assets”:  accounts receivable, royalty and other similar rights to payment and   any other assets related thereto subject to a Receivables Facility that are customarily sold or pledged in   connection with receivables transactions and the proceeds thereof.                “Receivables Facility”:  any of one or more receivables securitization financing facilities   as amended, supplemented, modified, extended, renewed, restated or refunded from time to time, the   Obligations of which are non-recourse (except for customary representations, warranties, covenants and   indemnities made in connection with such facilities) to the Company Borrower or any of its Restricted   Subsidiaries (other than a Receivables Subsidiary) pursuant to which the Company Borrower or any of its   Restricted Subsidiaries sells or grants a security interest in its accounts receivable or assets related thereto   that are customarily sold or pledged in connection with securitization transactions to either (a) a Person that   is not a Restricted Subsidiary or (b) a Receivables Subsidiary that in turn sells its accounts receivable to a   Person that is not a Restricted Subsidiary.                “Receivables Fees” means distributions or payments made directly or by means of  discounts with respect to any accounts receivable or participation interest therein issued or sold in  connection with, and other fees paid to a Person that is not a Restricted Subsidiary in connection with, any  Receivables Facility.                “Receivables Subsidiary”:  any Subsidiary formed for the purpose of, and that solely   engages only in one or more Receivables Facilities and other activities reasonably related or incidental   thereto.                “Recovery Event”:  any settlement of or payment in respect of any property or casualty   insurance claim or any condemnation, eminent domain or similar proceeding relating to any asset of any   Group Member.                “Refinance”:  in respect of any Indebtedness, to refinance, discharge, redeem, defease,   refund, extend, renew or repay any Indebtedness with the proceeds of other Indebtedness, or to issue other   Indebtedness, in exchange or replacement for, such Indebtedness in whole or in part; “Refinanced” and   “Refinancing” shall have correlative meanings.                “Refinanced Credit Agreement Debt”:  as defined in the definition of “Permitted Credit   Agreement Refinancing Debt.”                “Refinanced Debt”:  as defined in the definition of “Permitted Refinancing Requirements.”                “Refinancing Amendment”:  an amendment to this Agreement executed by each of (a) the   Borrower, (b) the Administrative Agent and (c) each Additional Lender and Lender that agrees to provide   any portion of the Permitted Credit Agreement Refinancing Debt being incurred pursuant thereto, in   accordance with Section 2.20.                “Refinancing Debt”:  Indebtedness under any First Priority Refinancing Facility, Second   Priority Refinancing Facility or Unsecured Refinancing Facility.                “Refunding Capital Stock”:  as defined in Section 6.2(b)(ii)(A).                “Register”:  as defined in Section 10.6(b)(vi).                “Registered Equivalent Notes”:  with respect to any notes originally issued in a Rule 144A   or other private placement transaction under the Securities Act of 1933, substantially identical notes (having                                         -61-        

 

   the same Guarantees) issued in a dollar-for-dollar exchange therefor pursuant to an exchange offer  registered with the SEC.               “Reinvestment Deferred Amount”:  with respect to any Reinvestment Event, the aggregate  Net Cash Proceeds received by any Loan Party in connection therewith that are not applied to repay the  Loans pursuant to Section 2.6(c).               “Reinvestment Event”:  as defined in Section 2.6(c).               “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, replace, reconstruct or repair assets useful in the business of the  Company Borrower and its Restricted Subsidiaries or in connection with a Permitted Acquisition.               “Reinvestment Prepayment Date”:  with respect to any Reinvestment Event, the earlier of  (a) the date occurring one year after such Reinvestment Event (or, if later, 180 days after the date the  Company Borrower or a Restricted Subsidiary thereof has entered into a binding commitment to reinvest  the Net Cash Proceeds of such Reinvestment Event prior to the expiration of such one year period) and (b)  the date on which the Company Borrower shall have notified the Administrative Agent in writing that it  has determined not to acquire, replace, reconstruct or repair assets useful in the business of the Company  Borrower and its Restricted Subsidiaries or in connection with a Permitted Acquisition.               “Related Business Assets”: assets (other than cash or Cash Equivalents) used or useful in  a Similar Business; provided that any assets received by the Company Borrower or a Restricted Subsidiary  thereof in exchange for assets transferred by the Company Borrower or a Restricted Subsidiary thereof will  not be deemed to be Related Business Assets if they consist of securities of a Person, unless upon receipt  of the securities of such Person, such Person would become a Restricted Subsidiary.               “Related Parties”:  with respect to any Person, such Person’s Affiliates and the partners,  directors, officers, employees, agents and advisors of such Person and of 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.               “Reply Amount”:  as defined in the definition of “Dutch Auction.”               “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 under subsections.27,.28,.29,.30,.31,.32,.34  or.35 of PBGC Reg. § 4043.               “Repricing Indebtedness”:  as defined in the definition of “Repricing Transaction.”               “Repricing Transaction”: means, other than in the context of a transaction involving a  Change of Control, an underwritten public Equity Offering or the financing of any material acquisition or  similar material Investment, (i) the repayment, prepayment, refinancing, substitution or replacement of all  or a portion of the Term B-4 Loans with the incurrence of any Indebtedness (“Repricing Indebtedness”)  having an effective interest cost or weighted average yield (taking into account interest rate margin and  benchmark floors, recurring fees and all upfront or similar fees or original issue discount (amortized over  the shorter of (A) the weighted average life to maturity of such term loans and (B) four years), but excluding  any arrangement, structuring, syndication or other fees payable in connection therewith that are not shared  ratably with all lenders or holders of such term loans in their capacities as lenders or holders of such term                                        -62-      

 

   loans) that is less than the effective interest cost or weighted average yield of the Term B-4 Loans and (ii)  any amendment, waiver, consent or modification to this Agreement relating to the interest rate for, or  weighted average yield (to be determined on the same basis as that described in clause (i) above) of, the  Term B-4 Loans directed at, or the result of which would be, the lowering of the effective interest cost or  weighted average yield applicable to the Term B-4 Loans.               “Required Lenders”:  at any time, non-Defaulting Lenders holding more than 50% of (a)  until the Closing Date, the Commitments then in effect and (b) thereafter, the sum of (i) the aggregate  unpaid principal amount of the Loans then outstanding and (ii) the Total Incremental Commitments then in  effect.               “Requirement of Law”:  as to any Person, any law, treaty, rule or regulation 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, controller, comptroller, secretary or vice president of any Group Member, but in any event, with  respect to financial matters, the chief financial officer, treasurer, controller or comptroller of the Company  Borrower.               “Restricted”:  when referring to cash or Cash Equivalents of the Company Borrower and  its Restricted Subsidiaries, means that such cash or Cash Equivalents (i) unless addressed in clause (ii)  below, appear (or would be required to appear) as “restricted” on the consolidated balance sheet of the  Company Borrower, (ii) are subject to any Lien in favor of any Person other than (x) the Administrative  Agent for the benefit of the Secured Parties or the ABL Agent and (y) other Liens permitted under clauses  (3), (10), (13), (15), (21), (23), (29), (33), (34), (37) and (39) of the definition of “Permitted Liens” above,  other than consensual Liens on assets which constitute Collateral and rank prior to the Liens in favor of the  Secured Parties on the Collateral or (iii) are not otherwise generally available for use by such Person.               “Restricted Investment”: an Investment other than a Permitted Investment.               “Restricted Payments”:  as defined in Section 6.2(a).               “Restricted Subsidiary”:  collectively, any Subsidiary of the Company Borrower other than  any Unrestricted Subsidiary; provided, however, that upon an Unrestricted Subsidiary’s ceasing to be an  Unrestricted Subsidiary, such Subsidiary shall be included in the definition of “Restricted Subsidiary.”               “Retired Capital Stock”:  as defined in Section 6.2(b)(ii).               “Return Bid”:  as defined in the definition of “Dutch Auction.”               “Sanctioned Country” shall mean, at any time, a country or territory which is itself the  subject or target of any Sanctions and with which dealings are prohibited under applicable law.               “Sanctioned Person” shall mean, 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 EU member state, (b) any Person operating, organized or resident in a Sanctioned Country or (c) any  Person owned or controlled by any such Person described in clause (a) or (b) above, with respect to (a), (b)  or (c) above, only to the extent dealing with such Person is prohibited by applicable law.                                        -63-      

 

                 “Sanctions” shall mean applicable 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 or any EU member   state.                “S&P”:  Standard & Poor’s Financial Services LLC, a subsidiary of The McGraw-Hill   Companies, Inc. and any successor to the rating agency business thereof.                “Sale Leaseback Transaction”:  any arrangement with any Person or Persons, whereby in   contemporaneous or substantially contemporaneous transactions the Company Borrower or any Restricted   Subsidiary thereof sells substantially all of its right, title and interest in any property and, in connection   therewith, the Company Borrower or a Restricted Subsidiary thereof acquires, leases or licenses back the   right to use all or a material portion of such property.                “SEC”:  the Securities and Exchange Commission, any successor thereto and any   analogous Governmental Authority.                “Second Priority Refinancing Facility”:  as defined in the definition of “Permitted Second   Priority Refinancing Debt.”                “Secured Parties”:  the collective reference to the Administrative Agent, the Lenders, any   Qualified Counterparties and any Cash Management Providers.                “Securities Act”:  the Securities Act of 1933, as amended from time to time, and any   successor statute.                “Security Agreement”:  the Pledge and Security Agreement to be executed and delivered   by the Borrower and each Guarantor, substantially in the form of Exhibit A-1.                “Security Documents”:  the collective reference to the Security Agreement, the Intellectual   Property Security Agreements, the Mortgages and all other security documents hereafter delivered to the  Administrative Agent granting a Lien on any property of any Person to secure the obligations and liabilities  of any Loan Party under any Loan Document.                “Senior Notes”:  the $400,000,000 4.625% senior notes due 2025 and the $400,000,000   4.875% senior notes due 2027 issued by the Company Borrower under the Senior Notes Indenture.                “Senior Notes Indenture”:  the Indenture, dated as of December 14, 2017, among the   Company Borrower, the guarantors party thereto and Wilmington Trust, National Association, as trustee.                “Senior Representative”:  with respect to any series of Permitted First Priority Refinancing   Debt or Permitted Second Priority Refinancing Debt or any series of Indebtedness permitted under Section   6.1(b)(ii) or (vi), the trustee, administrative agent, collateral agent, security agent or similar agent under the   indenture or agreement pursuant to which such Indebtedness is issued, incurred or otherwise obtained, as   the case may be, and each of their successors in such capacities.                “Settlement” means the transfer of cash or other property with respect to any credit or debit   card charge, check or other instrument, electronic funds transfer, or other type of paper-based or electronic   payment, transfer, or charge transaction for which a Person acts as a processor, remitter, funds recipient or   funds transmitter in the ordinary course of its business.                                         -64-        

 

               “Settlement Asset” means any cash, receivable or other property, including a Settlement  receivable, due or conveyed to a Person in consideration for a Settlement made or arranged, or to be made  or arranged, by such Person or an Affiliate of such Person.                “Settlement Indebtedness” means any payment or reimbursement obligation in respect of  a Settlement Payment.                “Settlement Lien” means any Lien relating to any Settlement or Settlement Indebtedness  (and may include, for the avoidance of doubt, the grant of a Lien in or other assignment of a Settlement  Asset in consideration of a Settlement Payment, Liens securing intraday and overnight overdraft and  automated clearing house exposure, and similar Liens).                “Settlement Payment” means the transfer, or contractual undertaking (including by  automated clearing house transaction) to effect a transfer, of cash or other property to effect a Settlement.                 “Significant Subsidiary”:  at any date of determination, each Restricted Subsidiary of the  Company Borrower that would be a “Significant Subsidiary” within the meaning of Rule 1-02 of Regulation  S-X under the Securities Act as such rule is in effect of the Closing Date.               “Similar Business”: any business engaged in by the Company Borrower, any Restricted  Subsidiaries of the Company Borrower, or any direct or indirect parent on the date of the Closing Date and  any business or other activities that are reasonably similar, ancillary, complementary or related to, or a  reasonable extension, development or expansion of, the businesses in which the Company Borrower and  its Restricted Subsidiaries are engaged on the Closing Date.               “Single Employer Plan”:  any Plan that is covered by Title IV of ERISA, but that is not a  Multiemployer Plan.               “Solvency Certificate”:  a certificate duly executed by a Responsible Officer substantially  in the form of Exhibit J.               “Solvent”:  with respect to any Person and its Subsidiaries on a consolidated basis, means  that as of any date of determination, (a) the sum of the “fair value” of the assets of such Person will, as of  such date, exceed the sum of all debts of such Person 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 probable liability on existing debts of such Person as such debts  become absolute and matured, as such quoted term is determined in accordance with applicable federal and  state laws governing determinations of the insolvency of debtors, (c) such Person will not have, as of such  date, an unreasonably small amount of capital with which to conduct any business in which it is or is about  to become engaged and (d) such Person does not intend to incur, or believe or reasonably should believe  that it will incur, debts beyond its ability to pay 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, subordinated, 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.  For purposes of this definition, the amount of any contingent, unliquidated and disputed claim  and any claim that has not been reduced to judgment at any time shall be computed as the amount that, in  light of all the facts and circumstances existing at such time, represents the amount that can reasonably be  expected to become an actual or matured liability (irrespective of whether such liabilities meet the criteria                                        -65-      

 

     for accrual under the Financial Accounting Standards Board Statement of Financial Accounting Standards   No. 5).                “Specified Assets”:  as defined in the definition of “Asset Sale.”                “Specified Cash Management Agreement”:  any Cash Management Agreement entered   into by any Group Member, on the one hand, and any Cash Management Provider, on the other hand.                “Specified Class”:  as defined in Section 2.22(a).                “Specified Dispositions”: as defined in the definition of “Asset Sale.”                “Specified Period”:  as to (i) the Excess Cash Flow Period ending December 31, 2018, the   period commencing on January 1, 2018 and ending on the day immediately preceding the Excess Cash   Flow Application Date that occurs in calendar year 2019 and (ii) any subsequent Excess Cash Flow Period,  the period commencing on the Excess Cash Flow Application Date that occurs during such period and  ending on the day immediately preceding the Excess Cash Flow Application Date that occurs in the next   succeeding Excess Cash Flow Period.                “Specified Swap Agreement”:  any Swap Agreement entered into by any Group Member,   on the one hand, and any Qualified Counterparty, on the other hand, in respect of interest rates, currencies   and commodities to the extent permitted under Section 6.1.                “Specified Transaction” means, with respect to any period, any Investment, sale, transfer   or other disposition of assets, incurrence or repayment of Indebtedness, Restricted Payment, subsidiary   designation or other event that by the terms of the Loan Documents requires pro forma compliance with a   test or covenant hereunder or requires such test or covenant to be calculated on a Pro Forma Basis or after   giving pro forma effect thereto.                “Sponsor”:  Onex Corporation, Onex Partners III LP, Onex Partners Manager LP and/or   one or more other investment funds advised, managed or controlled by Onex Corporation and, in each case   (whether individually or as a group) their Affiliates and any investment funds that have granted to the   foregoing control in respect of their investments in the Borrower and its Restricted Subsidiaries, but, in any   event, excluding any of their respective portfolio companies.                “Subordinated Indebtedness”: (a) with respect to the Borrower, any Indebtedness of the   Borrower which is by its terms contractually subordinated in right of payment to the Loans and (b) with   respect to any Guarantor, any Indebtedness of such Guarantor which is by its terms contractually   subordinated in right of payment to its Guarantee.                “Subsidiary”: with respect to any Person (1) any corporation, partnership, limited liability   company, unlimited liability company, association, joint venture or other business entity (other than a   partnership, joint venture or limited liability company) of which more than 50% of the total voting power   of shares of stock or other ownership interests entitled (without regard to the occurrence of any contingency)   to vote in the election of the Person or Persons (whether directors, managers, trustees or other Persons   performing similar functions having the power to direct or cause the direction of the management and   policies thereof at the time owned or controlled, directly or indirectly, by that Person or one or more of the   other Subsidiaries of that Person or a combination thereof, (2) any partnership, joint venture or limited   liability company of which (x) more than 50% of the capital accounts, distribution rights, total equity and   voting interests or general and limited partnership interests, as applicable, are owned or controlled, directly   or indirectly, by such Person or one or more of the other Subsidiaries of that Person or a combination                                         -66-        

 

     thereof, whether in the form of membership, general, special or limited partnership interests or otherwise,   and (y) such Person or any Restricted Subsidiary of such Person is a controlling general partner or otherwise   controls such entity and (3) any Person that is consolidated in the consolidated financial statements of the   specified Person in accordance with GAAP.  Unless otherwise qualified, all references to a “Subsidiary” or   to “Subsidiaries” in this Agreement shall refer to a Subsidiary or Subsidiaries of Holdings.                “Subsidiary Guarantor”:  the collective reference to the Company Subsidiary Guarantors.                “Swap Agreement”: any agreement with respect to any swap, forward, future or derivative   transaction or option or similar agreement involving, or settled by reference to, one or more rates,   currencies, commodities, equity or debt instruments or securities, or economic, financial or pricing indices   or measures of economic, financial or pricing risk or value or any similar transaction or any combination   of these transactions; provided that no phantom stock or similar plan providing for payments only on   account of services provided by current or former directors, officers, employees or consultants of the  Company Borrower or any of its Subsidiaries shall be a Swap Agreement.                “Swap Obligation”:  as defined in the definition of “Excluded Swap Obligation”.                “Taxes”:  as defined in Section 2.14(a).                “Term B-3 Lender”: at any time, any Lender that has a Term B-3 Loan at such time.                “Term B-3 Loans”:  a Term B-3 Loan made pursuant to Amendment No. 3.                 “Term B-4 Commitments”:  (i) the obligation of the Term B-4 Lenders to make Term B-4   Loans to the Company Borrower on the Amendment No. 4 Effective Date in the amount set forth opposite   each Term B-4 Lender’s name on Schedule 2.01 to Amendment No. 4.4 and (ii) the Additional Term B-4   Commitments.                “Term B-4 Lender”: at any time, any Lender that has a Term B-4 Commitment or a Term   B-4 Loan at such time.                “Term B-4 Loans”:  (i) a Term B-4 Loan made pursuant to Amendment No. 4.4 and (ii) an   Additional Term B-4 Loan made pursuant to Amendment No. 5.                 “Term Priority Collateral”:  as defined in the ABL-Term Intercreditor Agreement;   provided, that the Term Priority Collateral shall not include any Excluded Assets.                “Title Policy”: a lender’s policy of title insurance utilizing the American Land Title   Association 2006 Form extended coverage, or such other form as is reasonably acceptable to the   Administrative Agent or, if applicable, a binding marked commitment to issue such policy with a final   policy to be dated the date of recording of the Mortgages, issued by a title company selected by the   Company Borrower and reasonably acceptable to the Administrative Agent, insuring the Lien of the   applicable Mortgage in an amount at least equal to the Fair Market Value of such real property (or such   lesser amount as shall be agreed to by the Administrative Agent in its reasonable discretion) in favor of the   Administrative Agent for the benefit of the Secured Parties, subject only to those exceptions which are   either Permitted Liens or are otherwise reasonably approved by the Administrative Agent and containing   such endorsements as the Administrative Agent shall reasonably require.                “Total Assets”:  the total consolidated assets of the Company Borrower and its Restricted   Subsidiaries, as shown on the most recent consolidated or combined, as applicable, balance sheet of the                                         -67-        

 

   Company Borrower and its Restricted Subsidiaries (giving pro forma effect to any acquisitions or  dispositions of assets or properties that have been made by the Company Borrower or any of its Restricted  Subsidiaries subsequent to the date of such balance sheet, including through mergers or consolidations).               “Total Incremental Commitments”:  at any time, the aggregate amount of the Incremental  Commitments then in effect.               “Total Net First Lien Leverage Ratio”:  as at the last day of any period, the ratio of (a) the  excess of (i) Consolidated Total Debt on such day consisting of Indebtedness (x) constituting the  Obligations, (y) that is secured by the Collateral on a pari passu basis with the Obligations or (z) that was  incurred pursuant to Section 6.1(b)(ii) or Section 6.1(b)(vii) over (ii) an amount equal to the sum of the (x)  Unrestricted cash and Cash Equivalents, (y) cash and Cash Equivalents restricted in favor of the  Administrative Agent and (z) of cash and Cash Equivalents restricted in favor of the ABL Agent, in each  case of the Company Borrower and its Restricted Subsidiaries on such date, to (b) Consolidated EBITDA,  calculated on a Pro Forma Basis for such period, and with such pro forma or scheduling adjustments to  Consolidated Total Debt and Consolidated EBITDA as are appropriate and consistent with the pro forma  or scheduling adjustment provisions set forth in the definition of “Fixed Charge Coverage Ratio”.               “Total Net Leverage Ratio”:  as at the last day of any period, the ratio of (a) the excess of  (i) the amount of Consolidated Total Debt on such day over (ii) an amount equal to the sum of the (x)  Unrestricted cash and Cash Equivalents, (y) cash and Cash Equivalents restricted in favor of the  Administrative Agent and (z) of cash and Cash Equivalents restricted in favor of the ABL Agent, in each  case of the Company Borrower and its Restricted Subsidiaries on such date, to (b) Consolidated EBITDA  of the Company Borrower and its Restricted Subsidiaries, calculated on a Pro Forma Basis for such period,  and with such pro forma or scheduling adjustments to Consolidated Total Debt and Consolidated EBITDA  as are appropriate and consistent with the pro forma or scheduling adjustment provisions set forth in the  definition of “Fixed Charge Coverage Ratio”.               “Total Net Secured Leverage Ratio”:  as at the last day of any period, the ratio of (a) the  excess of (i) the amount of Consolidated Total Debt on such day consisting of Indebtedness (x) that is  secured by the Collateral or (y) that was incurred pursuant to Section 6.1(b)(vii) over (ii) an amount equal  to the sum of the (x) Unrestricted cash and Cash Equivalents, (y) cash and Cash Equivalents restricted in  favor of the Administrative Agent and (z) of cash and Cash Equivalents restricted in favor of the ABL  Agent, in each case of the Company Borrower and its Restricted Subsidiaries on such date, to (b)  Consolidated EBITDA of the Company Borrower and its Restricted Subsidiaries, calculated on a Pro Forma  Basis for such period, and with such pro forma or scheduling adjustments to Consolidated Total Debt and  Consolidated EBITDA as are appropriate and consistent with the pro forma or scheduling adjustment  provisions set forth in the definition of “Fixed Charge Coverage Ratio”.               “Tower Borrower”: Onex BP Finance LP, a Delaware limited partnership.                “Tower Release”:  as defined in Amendment No. 2.               “Transactions”:  (a) the consummation of the tower transactions, (b) the execution and  delivery of the ABL Documents to be entered into on the Closing Date, (c) the execution and delivery of  the Loan Documents to be entered into on the Closing Date, (d) the Existing Debt Release/Repayment and  (e) the payment of fees and expenses incurred in connection therewith.               “Transferee”:  any Assignee or Participant.               “Type”:  as to any Loan, its nature as an ABR Loan or a Eurodollar Loan.                                        -68-      

 

                 “UCC”:  the Uniform Commercial Code (or any similar or equivalent legislation) as in   effect from time to time in any applicable jurisdiction.                “United States”:  the United States of America.                “Unrestricted”:  when referring to cash or Cash Equivalents, means that such cash or Cash   Equivalents are not Restricted.                “Unrestricted Subsidiary”:  (i) any Subsidiary (other than a Subsidiary in existence as of   the Closing Date) of Holdings (other than the Borrower) designated by the board of directors of Holdings   as an Unrestricted Subsidiary pursuant to Section 5.12 subsequent to the Closing Date and (ii) any   Subsidiary of an Unrestricted Subsidiary.                “Unsecured Refinancing Facility”:  as defined in the definition of “Permitted Unsecured   Refinancing Debt.”                “Voting Stock”:  with respect to any Person as of any date, the Capital Stock of such Person   that is at the time entitled to vote in the election of the Board of Directors of such Person.                “Weighted Average Life to Maturity”:  when applied to any Indebtedness, Disqualified   Stock or Preferred Stock, as the case may be, at any date, the quotient obtained by dividing (1) the sum of   the products of the number of years from the date of determination to the date of each successive scheduled   principal payment of such Indebtedness or redemption or similar payment with respect to such Disqualified   Stock or Preferred Stock multiplied by the amount of such payment, by (2) the sum of all such payments.                “Wholly Owned Restricted Subsidiary” is any Wholly Owned Subsidiary that is a   Restricted Subsidiary.                “Wholly Owned Subsidiary” of any Person means a Subsidiary of such Person 100% of   the outstanding Capital Stock or other ownership interests of which (other than directors’ qualifying shares   or shares or interests required to be held by foreign nationals or other third parties to the extent required by   applicable law) shall at the time be owned by such Person or by one or more Wholly Owned Subsidiaries   of such Person.                “Write-Down and Conversion Powers” shall mean, with respect to any EEA Resolution   Authority, the write-down and conversion powers of such EEA Resolution Authority from time to time   under the Bail-In Legislation for the applicable EEA Member Country, which write-down and conversion   powers are described in the EU Bail-In Legislation Schedule.                                 1.2 Other Interpretive Provisions. 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.                (b)   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 not defined in Section 1.1 and   accounting terms partly defined in Section 1.1, to the extent not defined, shall have the respective meanings   given to them under GAAP; (ii) the words “include”, “includes” and “including” shall be deemed to be   followed by the phrase “without limitation”, (iii) the word “incur” or “Incur” shall be construed to mean   incur, create, issue, assume or become liable in respect of (and the words “incurred”, “Incurred”,   “incurrence” and “Incurrence” shall have correlative meanings), (iv) the words “asset” and “property” shall                                        -69-        

 

     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, (v) 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 and (vi) references to  exhibits, agreements or other Contractual Obligations (including any of the Loan Documents) shall, unless  otherwise specified, be deemed to refer to such exhibits, agreements or Contractual Obligations as amended,  supplemented, restated, amended and restated or otherwise modified from time to time.  For purposes of  this Agreement and the other Loan Documents, where the permissibility of a transaction or determinations  of required actions or circumstances depend upon compliance with, or are determined by reference to,  amounts stated in Dollars, any requisite currency translation shall be based on the rate of exchange between  the applicable currency and Dollars (as quoted by the Administrative Agent or if the Administrative Agent  does not quote a rate of exchange on such currency, by a known dealer in such currency designated by the  Administrative Agent) in effect on the Business Day immediately preceding the date of such transaction  (except for such other time periods as provided for in Section 6.1) or determination and shall not be affected   by subsequent fluctuations in exchange rates.                (c)   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 clause, paragraph, Section, Schedule and Exhibit references are to this Agreement unless  otherwise specified.               (d)   The meanings given to terms defined herein shall be equally applicable to both the  singular and plural forms of such terms.                  1.3 Accounting.  For purposes of all financial definitions and calculations in this     Agreement, including the determination of Excess Cash Flow, there shall be excluded for any period the     effects of purchase or recapitalization accounting (including the effects of such adjustments pushed     down to the Company Borrower and its Restricted Subsidiaries) in component amounts required or     permitted by GAAP (including in the inventory, property and equipment, software, goodwill, intangible     assets, in-process research and development, post-employment benefits, deferred revenue and debt line     items thereof) and related authoritative pronouncements (including the effects of such adjustments     pushed down to the Company Borrower and its Restricted Subsidiaries), as a result of the Transactions,     any acquisition consummated prior to the Closing Date, any Permitted Acquisitions, or the amortization     or write-off of any amounts thereof.                  1.4 Limited Condition Transactions.  Notwithstanding anything to the contrary herein,     in connection with any action being taken solely in connection with a Limited Condition Transaction,     for purposes of:                  (a)   determining compliance with any provision of this Agreement which requires the  calculation of any financial ratio or test, including the Total Net First Lien Leverage Ratio, Total Net  Secured Leverage Ratio, Total Net Leverage Ratio and Fixed Charge Coverage Ratio, or requires the  absence of any Default or Event of Default; or               (b)   testing availability under baskets set forth in this Agreement (including  determining the amount under clause (i) of the proviso to Section 2.19(a) or any other baskets measured as  a percentage of Total Assets or Consolidated EBITDA);                                          -70-        

 

                 in each case, at the option of the Company Borrower (the Company Borrower’s election to  exercise such option in connection with any Limited Condition Transaction, an “LCT Election”), the date   of determination of whether any such action is permitted hereunder shall be deemed to be the date the   definitive agreements for such Limited Condition Transaction are entered into (the “LCT Test Date”), and   if, after giving effect to the Limited Condition Transaction and the other transactions to be entered into in   connection therewith (including any incurrence of Indebtedness and the use of proceeds thereof) on a Pro   Forma Basis as if they had occurred at the beginning of the most recently completed period of four   consecutive fiscal quarters for which the financial statements and certificates required by Section 5.1(a) or   (b), as the case may be, have been or were required to have been delivered ending prior to the LCT Test   Date, the Company Borrower would have been permitted to take such action on the relevant LCT Test Date   in compliance with such ratio, test or basket, such ratio, test or basket shall be deemed to have been   complied with.  For the avoidance of doubt, (x) if any of such ratios or baskets are exceeded (or, with   respect to the Fixed Charge Coverage Ratio, not reached) as a result of fluctuations in such ratio or basket   (including due to fluctuations in Consolidated EBITDA of the Company Borrower and its Subsidiaries or   fluctuations of the target of any Limited Condition Transaction) at or prior to the consummation of the   relevant Limited Condition Transaction, such ratios and other provisions will not be deemed to have been   exceeded (or, with respect to the Fixed Charge Coverage Ratio, not reached) as a result of such fluctuations   solely for purposes of determining whether the Limited Condition Transaction is permitted hereunder and   (y) such ratios and other provisions shall not be tested at the time of consummation of such Limited   Condition Transaction or related Specified Transactions. If the Company Borrower has made an LCT   Election for any Limited Condition Transaction, then in connection with the calculation of any ratio, test   or basket availability with respect to the Incurrence of Indebtedness or Liens, the making of Restricted   Payments, the making of any Permitted Investment, mergers, the conveyance, lease or other transfer of all   or substantially all of the assets of the Borrower, the prepayment, redemption, purchase, defeasance or other   satisfaction of Indebtedness, the designation of an Unrestricted Subsidiary or any other Specified   Transaction on or following the relevant LCT Test Date and prior to the earlier of the date on which such  Limited Condition Transaction is consummated or the date that the definitive agreement or irrevocable  notice for such Limited Condition Transaction is terminated or expires without consummation of such  Limited Condition Transaction (a “Subsequent Transaction”), for purposes of determining whether any   such Subsequent Transaction is permitted under this Agreement, any such ratio, test or basket shall be   required to be satisfied on a Pro Forma Basis assuming such Limited Condition Transaction and other   transactions in connection therewith (including any incurrence of Indebtedness and the use of proceeds   thereof) have been consummated until such time as the applicable Limited Condition Transaction actually   closed or the definitive agreement with respect thereto has been terminated or expire.      SECTION 2   AMOUNT AND TERMS OF COMMITMENTS                  2.1 Commitments.                 (a)   (i) Subject to the terms and conditions hereof, each Term B-4 Lender severally   agreesagreed to make a single Term B-4 Loan to the Company Borrower on the Amendment No. 4 Effective   Date in Dollars and in an amount not to exceed the amount of the Term B-4 Commitment of such Lender   and (ii) subject to the terms and conditions set forth in Amendment No. 5, each Additional Term B-4 Lender   severally agreed to make an Additional Term B-4 Loan to the Borrower on the Amendment No. 5 Effective   Date in Dollars and in an amount not to exceed the amount of the Additional Term B-4 Commitment of   such Lender.                 (b)   The Loans may from time to time be Eurodollar Loans or ABR Loans, as  determined by the Borrower and notified to the Administrative Agent in accordance with Sections 2.2 and   2.7.  The Term B-4 Commitments shall automatically terminate at 5:00 P.M., New York City time, on the   Amendment No. 4 Effective Date.                                        -71-        

 

                   2.2 Procedure for Borrowing of Loans.  The Company Borrower shall give the     Administrative Agent irrevocable notice (which notice must be received by the Administrative Agent     prior to 1:00 p.m., New York City time, one Business Day prior to the Amendment No. 4 Effective Date)     requesting that the Term B-4 Lenders make the Term B-4 Loans on the Amendment No. 4 Effective     Date and specifying (x) the amount to be borrowed and (y) instructions for remittance of the Loans to     be borrowed.  Upon receipt of such notice the Administrative Agent shall promptly notify each Lender     thereof.  Not later than 1:00 P.M., New York City time, on the Amendment No. 4 Effective Date, each     Term B-4 Lender shall make available to the Administrative Agent at the Funding Office an amount in     immediately available funds equal to the Term B-4 Loans to be made by such Term B-4 Lender.  Such     borrowing will then be made available to the Company Borrower by the Administrative Agent crediting     such account as is designated in writing to the Administrative Agent by the Company Borrower, with     the aggregate of the amounts made available to the Administrative Agent by the Term B-4 Lenders and     in like funds as received by the Administrative Agent.                  2.3 Repayment of Loans.                (a)   The principal amount of the Term B-4 Loans of each Term B-4 Lender shall be  repaid (i) on the last Business Day of each March, June, September and December, commencing with the  last Business Day of March 2018,September 2019, in an amount equal to 0.25% of the aggregate principal   amount of the Term B-4 Loans outstanding on the Amendment No. 4 Effective Date$1,417,258.88 and (ii)   on the Maturity Date, in an amount equal to the aggregate principal amount outstanding on such date,   together in each case with accrued and unpaid interest on the principal amount to be paid to but excluding   the date of such payment.                (b)   To the extent not previously paid, (i) each Incremental Loan shall be due and  payable on the Incremental Maturity Date applicable to such Incremental Loan, (ii) each Other Loan shall  be due and payable on the maturity date thereof as set forth in the Refinancing Amendment applicable  thereto together and (iii) each Extended Loan shall be due and payable on the maturity date thereof as set  forth in the Permitted Amendment applicable thereto together, in each case, with accrued and unpaid  interest on the principal amount to be paid to but excluding the date of payment.                  2.4 Fees.                  (a)   The Borrower agreed to pay to the Administrative Agent and the Joint Lead  Arrangers (and their respective affiliates) the fees in the amounts and on the dates as set forth in any fee  agreements (including the Engagement Letter) with such Persons and to perform any other obligations  contained therein.               (b)   The Borrower agreed to pay to the Amendment No. 1 Lead Arrangers and  Bookrunners (and their respective affiliates) the fees in the amounts and on the dates as set forth in any fee  agreements (including the Amendment No. 1 Engagement Letter) with such Persons and to perform any  other obligations contained therein.               (c)   The Borrower agreed to pay to the Amendment No. 2 Lead Arrangers and  Bookrunners (and their respective affiliates) the fees in the amounts and on the dates as set forth in any fee  agreements (including the Amendment No. 2 Engagement Letter) with such Persons and to perform any  other obligations contained therein.               (d)   The Borrower agreed to pay to the Amendment No. 3 Lead Arrangers and  Bookrunners (or their respective affiliates) the fees in the amounts and on the dates as set forth in any fee                                         -72-        

 

     agreements (including the Amendment No. 3 Engagement Letter) with such Persons and to perform any   other obligations contained therein.                (e)   The Borrower agrees to pay to the Amendment No. 4 Lead Arrangers and   Bookrunners (or their respective affiliates) the fees in the amounts and on the dates as set forth in any fee   agreements with such Persons and to perform any other obligations contained therein.                (f)   The Borrower agrees to pay to the Amendment No. 5 Lead Arrangers and   Bookrunners (or their respective affiliates) the fees in the amounts and on the dates as set forth in any fee   agreements with such Persons and to perform any other obligations contained therein.                  2.5 Optional Prepayments.                (a)   The Borrower may at any time and from time to time prepay the Loans, in whole  or in part, in each case, without premium or penalty, upon irrevocable notice delivered to the Administrative  Agent no later than 4:00 P.M., New York City time, three Business Days prior to the prepayment date, in  the case of Eurodollar Loans, and no later than 2:00 P.M., New York City time, on the prepayment date, in  the case of ABR Loans, which notice shall specify the date and amount of prepayment and whether the  prepayment is of Eurodollar Loans or ABR Loans; provided that if a Eurodollar 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 2.15; provided, further, that if such notice of prepayment indicates that such   prepayment is to be funded with the proceeds of a Refinancing of the Facility, such notice of prepayment   may be revoked if such Refinancing is not consummated and any Eurodollar Loan that was the subject of   such notice shall be continued as an ABR Loan.  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, together with accrued interest to such   date on the amount prepaid.  Partial prepayments of Loans shall be in an aggregate principal amount of (x)   in the case of ABR Loans, $500,000 or a whole multiple of $100,000 in excess thereof and (y) in the case   of Eurodollar Loans, $1,000,000 or a whole multiple of $100,000 in excess thereof.                (b)   Notwithstanding anything herein to the contrary, in the event that, on or prior to  the date that is six months after the Amendment No. 45 Effective Date, the Borrower (x) makes any   prepayment of Term B-4 Loans with the proceeds of any Repricing Transaction described under clause (i)   of the definition of Repricing Transaction, or (y) effects any amendment of this Agreement resulting in a   Repricing Transaction under clause (ii) of the definition of Repricing Transaction, the Borrower shall on   the date of such prepayment or amendment, as applicable, pay to each Lender (I) in the case of such clause   (x), 1.00% of the principal amount of the Term B-4 Loans so prepaid and (II) in the case of such clause (y),   1.00% of the aggregate amount of the Term B-4 Loans affected by such Repricing Transaction and   outstanding on the effective date of such amendment.                  2.6 Mandatory Prepayments.                (a)   If any Indebtedness shall be incurred by any Group Member (other than any  Indebtedness permitted to be incurred by any such Person in accordance with Section 6.1), concurrently   with, and as a condition to closing of such transaction, an amount equal to 100% of the Net Cash Proceeds   thereof shall be applied on the date of such issuance or incurrence toward the prepayment of the Loans as   set forth in clause (f) of this Section 2.6.                (b)   Subject to clause (d) of this Section 2.6, if, for any Excess Cash Flow Period, there   shall be Excess Cash Flow in an amount greater than $25,000,000, the Company Borrower shall prepay the                                        -73-        

 

     Loans as set forth in clause (f) of this Section 2.6 in an amount equal to the excess of the ECF Percentage   of the amount by which such Excess Cash Flow exceeds $25,000,000, provided that such amount shall, at   the option of the Company Borrower, be reduced on a dollar-for-dollar basis for such fiscal year by (to the  extent not funded with the proceeds of Indebtedness constituting “long term indebtedness” under GAAP  (other than Indebtedness in respect of any revolving credit facility), the aggregate amount of: (1) all  Purchases by any Permitted Auction Purchaser (determined by the actual cash purchase price paid by such  Permitted Auction Purchaser for such Purchase and not the par value of the Loans purchased by such  Permitted Auction Purchaser) pursuant to a Dutch Auction permitted hereunder and (2) voluntary  prepayments of Loans made by the Borrower during the Specified Period for such Excess Cash Flow Period.    Each such prepayment shall be made on a date (an “Excess Cash Flow Application Date”) no later than   10 Business Days after the date on which the financial statements of the Company Borrower referred to in   Section 5.1(a), for the fiscal year with respect to which such prepayment is made, are required to be   delivered to the Lenders.                  (c)   Subject to clause (d) of this Section 2.6, if, on any date, the Borrower or any   Restricted Subsidiary shall receive Net Cash Proceeds from (x) any Asset Sale or any Recovery Event in   excess of $20,000,000 in any fiscal year or (y) any Sale Leaseback Transaction in excess of $20,000,000   in any fiscal year, then, unless no Default or Event of Default has occurred and is continuing and the   Company Borrower has determined in good faith that such Net Cash Proceeds shall be reinvested in its   business (a “Reinvestment Event”), then 100% of such Net Cash Proceeds (such percentage as it may be   reduced as described below, the “Disposition Percentage”) shall be applied within five Business Days of   such date to prepay (A) outstanding Loans in accordance with this Section 2.6 and (B) at the Company   Borrower’s option, outstanding Indebtedness that is secured by the Collateral on a pari passu basis incurred   (x) as Permitted First Priority Refinancing Debt or (y) pursuant to Section 6.1(b)(vi)(I) (collectively, “Other   Applicable Indebtedness”); provided that the Disposition Percentage with respect to the Net Cash Proceeds   of any Asset Sale shall be (x) 50% the Total Net First Lien Leverage Ratio as of the last day of such fiscal   year is less than or equal to 3.50 to 1.00 and greater than 3.00 to 1.00 and (y) 25% if the Total Net First   Lien Leverage Ratio as of the last day of such fiscal year is less than or equal to 3.00 to 1.00, and provided   further that, notwithstanding the foregoing, on each Reinvestment Prepayment Date, an amount equal to   the Reinvestment Prepayment Amount with respect to any Asset Sale or Recovery Event, shall be applied   to prepay the outstanding Loans as set forth in clause (f) of this Section 2.6.  Any such Net Cash Proceeds   may be applied to Other Applicable Indebtedness only to (and not in excess of) the extent to which a   mandatory prepayment in respect of such Asset Sale or Recovery Event is required under the terms of such   Other Applicable Indebtedness (with any remaining Net Cash Proceeds applied to prepay outstanding Loans   in accordance with the terms hereof), unless such application would result in the holders of Other   Applicable Indebtedness receiving in excess of their pro rata share (determined on the basis of the aggregate   outstanding principal amount of Loans and Other Applicable Indebtedness at such time) of such Net Cash   Proceeds relative to Lenders, in which case such Net Cash Proceeds may only be applied to Other   Applicable Indebtedness on a pro rata basis with outstanding Loans.  To the extent the holders of Other   Applicable Indebtedness decline to have such indebtedness repurchased, repaid or prepaid with any such   Net Cash Proceeds, the declined amount of such Net Cash Proceeds shall promptly (and, in any event,   within 10 Business Days after the date of such rejection) be applied to prepay Loans in accordance with the   terms hereof (to the extent such Net Cash Proceeds would otherwise have been required to be applied if   such Other Applicable Indebtedness was not then outstanding).                (d)   Notwithstanding anything to the contrary in this Agreement (including clauses (b)  and (c) above), to the extent that any of or all the Net Cash Proceeds of any Asset Sale or Recovery Event  by a Foreign Subsidiary (a “Foreign Disposition”) or Excess Cash Flow attributable to Foreign Subsidiaries   (or foreign branches of Domestic Subsidiaries) are prohibited or delayed by applicable local law from being                                        -74-        

 

     repatriated to the United States (including financial assistance and corporate benefit restrictions and   fiduciary and statutory duties of the relevant directors) or such repatriation 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 2.6 but may be retained by the   applicable Foreign Subsidiary or branch so long, but only so long, as such applicable local law will not   permit repatriation to the United States or such material adverse Tax consequences would continue to result   from such repatriation (the Borrower 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 or incurring material adverse Tax consequences), and once such repatriation of any of such   affected Net Cash Proceeds or Excess Cash Flow is permitted under such applicable local law or material   adverse Tax consequences would no longer result from such repatriation, such repatriation will be   immediately effected and such repatriated Net Cash Proceeds or Excess Cash Flow will be promptly (and   in any event not later than 10 Business Days after such repatriation) applied (net of additional Taxes payable   or reserved against as a result thereof) to the repayment of the Loans pursuant to this Section 2.6.                (e)   The Company Borrower shall deliver to the Administrative Agent notice of each  prepayment required under this Section 2.6 not less than five Business Days prior to the date such   prepayment shall be made (each such date, a “Mandatory Prepayment Date”).  Such notice shall set forth   (i) the Mandatory Prepayment Date and (ii) the principal amount of each Loan (or portion thereof) to be   prepaid.  The Administrative Agent will promptly notify each applicable Lender of such notice and of each   such Lender’s Pro Rata Share of the prepayment.  Each such Lender may reject all of its Pro Rata Share of   the prepayment (such declined amounts, the “Declined Proceeds”) by providing written notice (each, a   “Rejection Notice”) to the Administrative Agent and the Company Borrower no later than 5:00 P.M., New   York City time, one (1) Business Day after the date of such Lender’s receipt of such notice from the   Administrative Agent.  Each Rejection Notice from a given Lender shall specify the principal amount of   the prepayment to be rejected by such Lender.  If a 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 prepayment to be rejected, any such failure will be deemed an acceptance of the   total amount of such prepayment.  Any Declined Proceeds may be retained by the Company Borrower.  The   Company Borrower shall deliver to the Administrative Agent, at the time of each prepayment required   under this Section 2.6, a certificate signed by a Responsible Officer of the Company Borrower setting forth   in reasonable detail the calculation of the amount of such prepayment.                (f)   Amounts to be applied in connection with prepayments made pursuant to this  Section 2.6 shall be applied to the prepayment of the Loans in accordance with Section 2.12(b).  The   application of any prepayment of Loans pursuant to this Section 2.6 shall be made on a pro rata basis   regardless of Type.  Each prepayment of the Loans under this Section 2.6 shall be accompanied by accrued   interest to the date of such prepayment on the amount prepaid.                  2.7 Conversion and Continuation Options.                (a)   The Company Borrower may elect from time to time to convert Eurodollar Loans  to ABR Loans by giving the Administrative Agent prior irrevocable notice of such election no later than  3:00 P.M., New York City time, on the Business Day preceding the proposed conversion date; provided   that any such conversion of Eurodollar Loans may only be made on the last day of an Interest Period with   respect thereto.  The Company Borrower may elect from time to time to convert ABR Loans to Eurodollar   Loans by giving the Administrative Agent prior irrevocable notice of such election no later than 3:00 P.M.,   New York City time, on the third Business Day preceding the proposed conversion date (which notice shall   specify the length of the initial Interest Period therefor); provided, further, that, no ABR Loan may be                                         -75-        

 

     converted into a Eurodollar Loan when any Event of Default has occurred and is continuing.  Upon receipt   of any such notice the Administrative Agent shall promptly notify each relevant Lender thereof.                (b)   Any Eurodollar Loan may be continued as such upon the expiration of the then  current Interest Period with respect thereto by the Company Borrower giving irrevocable notice to the  Administrative Agent, in accordance with the applicable provisions of the term “Interest Period” set forth  in Section 1.1, of the length of the next Interest Period to be applicable to such Loans; provided that, to the   extent the Required Lenders provide written notice thereof to the Company Borrower, no Eurodollar Loan   may be continued as such when any Event of Default has occurred and is continuing; provided, further, that   if the Company Borrower shall fail to give any required notice as described above in this paragraph or if   such continuation is not permitted pursuant to the preceding proviso such Loans shall be automatically   converted to ABR Loans on the last day of such then expiring Interest Period.  Upon receipt of any such   notice the Administrative Agent shall promptly notify each relevant Lender thereof.                  2.8 Limitations on Eurodollar Tranches.  Notwithstanding anything to the contrary in     this Agreement, all borrowings, conversions and continuations of Eurodollar Loans and all selections of     Interest Periods shall be in such amounts and be made pursuant to such elections so that, (a) after giving     effect thereto, the aggregate principal amount of the Eurodollar Loans comprising each Eurodollar     Tranche shall be equal to $500,000 or a whole multiple of $100,000 in excess thereof and (b) no more     than 10 Eurodollar Tranches shall be outstanding at any one time.                  2.9 Interest Rates and Payment Dates.                (a)   Each Eurodollar Loan shall bear interest for each day during each Interest Period  with respect thereto at a rate per annum equal to the Eurodollar Rate determined for such day plus the   Applicable Margin.                (b)   Each ABR Loan shall bear interest at a rate per annum equal to the ABR plus the   Applicable Margin.                (c)   (i)  If all or a portion of the principal amount of any Loan shall not be paid when  due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest  at a rate per annum equal to the rate that would otherwise be applicable thereto pursuant to the foregoing  provisions of this Section plus 2% and (ii) if all or a portion of (x) any interest payable on any Loan or (y)   any 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 shall bear interest at a   rate per annum equal to the rate then applicable to ABR 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 ABR   Loans under the Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of   such non-payment until such amount is paid in full (as well after as before judgment).                (d)   Interest shall be payable in arrears on each Interest Payment Date, provided that   interest accruing pursuant to Section 2.9(c) shall be payable from time to time on demand.                  2.10 Computation of Interest.                (a)   Interest payable pursuant hereto shall be calculated on the basis of a 360-day year  for the actual days elapsed, except that, with respect to ABR Loans, the interest thereon shall be calculated  on the basis of a 365- (or 366-, as the case may be) day year for the actual days elapsed.  The Administrative   Agent shall as soon as practicable notify the Company Borrower and the relevant Lenders of each                                         -76-        

 

     determination of a Eurodollar Rate.  Any change in the interest rate on a Loan resulting from a change in   the ABR 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 Borrower and the   relevant Lenders of the effective date and the amount of each such change in interest rate.  In computing   interest on any Loan, the date of the making of such Loan or the first day of an Interest Period applicable   to such Loan or, with respect to an ABR Loan being converted from a Eurodollar Loan, the date of   conversion of such Eurodollar Loan to such ABR Loan, as the case may be, shall be included, and the date   of payment of such Loan or the expiration date of an Interest Period applicable to such Loan or, with respect   to an ABR Loan being converted to a Eurodollar Loan, the date of conversion of such ABR Loan to such   Eurodollar Loan, as the case may be, shall be excluded; provided that if a Loan is repaid on the same day   on which it is made, one day’s interest shall be paid on that Loan.                (b)   Each determination of an interest rate by the Administrative Agent pursuant to any  provision of this Agreement shall be conclusive and binding on the Borrower and the Lenders in the absence  of manifest error.  The Administrative Agent shall, at the request of the Company Borrower, deliver to the  Company Borrower a statement showing the quotations used by the Administrative Agent in determining  any interest rate pursuant to Section 2.9(a).                  2.11 Inability to Determine Interest Rate; Illegality.                (a)   If prior to the first day of any Interest Period, the Administrative Agent or the  Majority Facility Lenders in respect of the relevant Facility shall have determined (which determination  shall be conclusive and binding upon the Borrower) that such Lender shall incur increased costs or  reductions in the amounts received or receivable hereunder with respect to any Facility because of (x) any  change since the Closing Date in any applicable law or governmental rule, regulation, order, guideline or  request (whether or not having the force of law) or in the interpretation or administration thereof and  including the introduction of any new law or governmental rule, regulation, order, guideline or request,  such as, but not limited to, a change in official reserve requirements, but, in all events, excluding reserves  required under Regulation D to the extent included in the computation of the Eurodollar Rate and/or (y)  other circumstances arising since the Closing Date affecting Lender, the interbank market or the position  of such Lender in such market (including that the Eurodollar Rate with respect to such Eurodollar Loan  does not adequately and fairly reflect the cost to such Majority Facility Lender of funding such Eurodollar  Loan), then, such Lender (or the Administrative Agent, in the case of clause (i) shall promptly give notice  (by telephone promptly confirmed in writing) to the Company Borrower and, except in the case of clause  (i) above, the Administrative Agent of such determination.   If such notice is given (x) any Eurodollar Loans  under the relevant Facility requested to be made on the first day of such Interest Period shall be made as  ABR Loans, (y) any Loans under the relevant Facility that were to have been converted on the first day of  such Interest Period to Eurodollar Loans shall be continued as ABR Loans and (z) any outstanding  Eurodollar Loans under the relevant Facility shall be converted, on the last day of the then-current Interest  Period, to ABR Loans.  Until such notice has been withdrawn by the Administrative Agent (which the  Administrative Agent agrees to do promptly once such condition no longer exists), no further Eurodollar  Loans under the relevant Facility shall be made or continued as such, nor shall the Borrower have the right  to convert Loans under the relevant Facility to Eurodollar Loans.                (b)   If any Lender determines that any Requirement of Law has made it unlawful, or  that any Governmental Authority has asserted that it is unlawful, for any Lender or its applicable lending  office to make, maintain or fund Loans whose interest is determined by reference to the Eurodollar Rate,  or to determine or charge interest rates based upon the Eurodollar Rate, or any Governmental Authority has  imposed material restrictions on the authority of such Lender to purchase or sell, or to take deposits of,  Dollars in the London interbank market, then, on notice thereof by such Lender to the Borrower through                                        -77-        

 

     the Administrative Agent, then, by written notice to the Company Borrower and to the Administrative   Agent:                     (i)   such Lender may declare that Eurodollar Loans will not thereafter (for the        duration of such unlawfulness) be made by such Lender hereunder (or be continued for additional        Interest Periods) and ABR Loans will not thereafter (for such duration) be converted into        Eurodollar Loans, whereupon any request for a Borrowing of Eurodollar Loans (or to convert a        Borrowing of ABR Loans to Borrowing of Eurodollar Loans or to continue a Borrowing of        Eurodollar Loans for an additional Interest Period) shall, as to such Lender only, be deemed a        request for an ABR Loan (or a request to continue an ABR Loan as such for an additional Interest        Period or to convert a Eurodollar Loan into an ABR Loan, as the case may be), unless such        declaration shall be subsequently withdrawn; and                     (ii)  such Lender may require that all outstanding Eurodollar Loans made by it        be converted to ABR Loans (the interest rate on which shall, if necessary to avoid illegality, be        determined by the Administrative Agent without reference to the Eurodollar Rate component of        the ABR), in which event all such Eurodollar Loans shall be automatically converted to ABR Loans        as of the effective date of such notice as provided in clause (a) above until the Administrative Agent        is advised in writing by such Lender that it is no longer illegal for any such Lender to determine or        charge interest rates based upon the Eurodollar Rate.         In the event any Lender shall exercise its rights under paragraphs (i) or (ii) of this clause (b), all  payments and prepayments of principal that would otherwise have been applied to repay the Eurodollar  Loans that would have been made by such Lender or the converted Eurodollar Loans of such Lender shall  instead be applied to repay the ABR Loans made by such Lender in lieu of, or resulting from the conversion  of, such Eurodollar Loans.         For purposes of this clause (b), a notice to the Company Borrower by any Lender shall be effective  as to each Eurodollar Loan made by such Lender, if lawful, on the last day of the Interest Period then  applicable to such Eurodollar Loan; in all other cases, such notice shall be effective on the date of receipt  by the Company Borrower.                (c)   If any Secured Party determines, acting reasonably, that any applicable law has  made it unlawful, or that any Governmental Authority has asserted that it is unlawful, for such Secured  Party to hold or benefit from a Lien over real property of the Loan Parties pursuant to any law of the United  States or any State thereof, such Secured Party may notify the Administrative Agent and disclaim any  benefit of such security interest to the extent of such illegality; provided that such determination or   disclaimer shall not invalidate, render unenforceable or otherwise affect in any manner such Lien for the   benefit of any other Secured Party.                (d)   Notwithstanding anything to the contrary in this Agreement or any other Loan  Documents, if the Administrative Agent determines (which determination shall be conclusive absent  manifest error), or the Company Borrower or Required Lenders notify the Administrative Agent (with, in  the case of the Required Lenders, a copy to Company Borrower) that the Company Borrower or Required  Lenders (as applicable) have determined, that:                      (i)   adequate and reasonable means do not exist for ascertaining LIBOR for        any requested Interest Period, including, without limitation, because the LIBOR Screen Rate is not        available or published on a current basis and such circumstances are unlikely to be temporary; or                                          -78-        

 

                       (ii) the administrator of the LIBOR Screen Rate or a Governmental Authority        having jurisdiction over the Administrative Agent has made a public statement identifying a        specific date after which LIBOR or the LIBOR Screen Rate shall no longer be made available, or        used for determining the interest rate of loans (such specific date, the “Scheduled Unavailability         Date”), or                      (iii) syndicated loans currently being executed, or that include language similar        to that contained in this Section, are being executed or amended (as applicable) to incorporate or        adopt a new benchmark interest rate to replace LIBOR,     then, reasonably promptly after such determination by the Administrative Agent or receipt by the   Administrative Agent of such notice, as applicable,  the Administrative Agent and the Company Borrower   may amend this Agreement to replace LIBOR with an alternate benchmark rate (including any   mathematical or other adjustments to the benchmark (if any) incorporated therein) (any such proposed rate,   a “LIBOR Successor Rate”), together with any proposed LIBOR Successor Rate Conforming Changes.   Any such amendment (a “LIBOR Successor Amendment”) shall become effective at 5:00 p.m. (New York   time) on the fifth Business Day after the Administrative Agent shall have posted such proposed LIBOR   Successor Amendment to all Lenders and the Company Borrower unless, prior to such time, Lenders   comprising the Required Lenders have delivered to the Administrative Agent written notice that such   Required Lenders do not accept such LIBOR Successor Amendment (in which case, the Administrative   Agent and the Company Borrower may propose an alternative LIBOR Successor Amendment).  If no   LIBOR Successor Rate has been determined and the circumstances under clause (i) above exist or the   Scheduled Unavailability Date has occurred (as applicable), (x) any Eurodollar Loans under the relevant   Facility requested to be made on the first day of such Interest Period shall be made as ABR Loans, (y) any   Loans under the relevant Facility that were to have been converted on the first day of such Interest Period   to Eurodollar Loans shall be continued as ABR Loans and (z) any outstanding Eurodollar Loans under the   relevant Facility shall be converted, on the last day of the then-current Interest Period, to ABR Loans, in   each without regard to clause (c) of the definition of “ABR”.  Notwithstanding anything else herein, any   definition of LIBOR Successor Rate shall provide that in no event shall such LIBOR Successor Rate be   less than zero for purposes of this Agreement.                  2.12 Pro Rata Treatment and Payments.                (a)   Each borrowing by the Company Borrower from the Lenders hereunder shall be  made pro rata according to the respective Percentages or Incremental Percentages, as the case may be, of   the relevant Lenders.                (b)   Each payment (including each prepayment) on account of principal of and interest  on the Loans shall be made pro rata to the Lenders according to the respective outstanding principal amounts   of the Loans then held by the Lenders.  The amount of each optional prepayment of the Loans made pursuant   to Section 2.5 shall be applied as directed by the Company Borrower in the notice described in Section 2.5   and, if no direction is given by the Company Borrower, in the direct order of maturity.  The amount of each   mandatory prepayment of the Loans pursuant to Section 2.6 (other than any such prepayment pursuant to   Section 2.6(b)) shall be applied as directed by the Company Borrower in the notice described in Section   2.6 and, if no direction is given by the Company Borrower, in the direct order of maturity.  The amount of   each mandatory prepayment of the Loans pursuant to Section 2.6(b) shall be applied in the direct order of   maturity.                (c)   All payments (including prepayments) to be made by the Borrower hereunder,  whether on account of principal, interest, fees or otherwise, shall be made without setoff or counterclaim                                         -79-        

 

     and shall be made prior to 3:00 P.M., New York City time, on the due date thereof to the Administrative   Agent, for the account of the Lenders, at the Funding Office, in Dollars and in immediately available funds.    Any payments received after such time shall be deemed to be received on the next Business Day at the   Administrative Agent’s sole discretion.  The Administrative Agent shall distribute such payments to the   Lenders promptly upon receipt in like funds as received.  Except as otherwise provided hereunder, if any   payment hereunder (other than payments on the Eurodollar Loans) becomes due and payable on a day other   than a Business Day, such payment shall be required on the immediately preceding Business Day.  If any   payment on a Eurodollar 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.                (d)   Unless the Administrative Agent shall have been notified in writing by any Lender  prior to the time of any 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 (a “Funding Default”), 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 ABR Loans under the relevant   Facility, on demand, from the Borrower.  Nothing herein shall be deemed to relieve any Lender from its   obligation to fulfill its Commitment or to prejudice any rights which the Administrative Agent or the   Borrower may have against any Lender as a result of any default by such Lender hereunder.                (e)   Unless the Administrative Agent shall have been notified in writing by the  Borrower prior to the date of any payment due to be made by the Borrower hereunder that the 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 the 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 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 the   Borrower.                  2.13 Requirements of Law.                (a)   Subject to clause (c) of this Section 2.13, if any Change in Law shall (i) subject   any Lender to any Tax of any kind whatsoever with respect to this Agreement, any Eurodollar Loan made   by it, or change the basis of taxation of payments to such Lender in respect thereof, (ii) impose, modify or                                        -80-        

 

     hold applicable any reserve, special deposit, compulsory loan 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 such Lender that is not otherwise included in the determination   of the Eurodollar Rate or (iii) impose on such Lender any other condition, and the result of any of the   foregoing is to increase the cost to such Lender by an amount that such Lender reasonably deems to be   material, of making, converting into, continuing or maintaining Eurodollar Loans, or to reduce any amount   receivable hereunder in respect thereof, then, in any such case, the Borrower shall promptly pay such  Lender, upon its demand, any additional amounts necessary to compensate such Lender for such increased  cost or reduced amount receivable.  If any Lender becomes entitled to claim any additional amounts  pursuant to this paragraph, it shall promptly notify the Company Borrower (with a copy to the  Administrative Agent) of the event by reason of which it has become so entitled.                (b)   Subject to clause (c) of this Section 2.13, if any Lender shall have determined that   compliance by such Lender (or any corporation controlling such Lender) with any Change in Law regarding   capital adequacy or liquidity shall have the effect of reducing the rate of return on such Lender’s or such   corporation’s capital as a consequence of its obligations hereunder or under or in respect of any Loans to a   level below that which such Lender or such corporation could have achieved but for such Change in Law   (taking into consideration such Lender’s or such corporation’s policies with respect to capital adequacy) by   an amount reasonably deemed by such Lender to be material, then from time to time, after submission by   such Lender to the Company Borrower (with a copy to the Administrative Agent) of a written request   therefor (setting forth in reasonable detail the basis for calculating the additional amounts owed to such   Lender under this Section 2.13(b)), the Borrower shall pay to such Lender such additional amount or   amounts as will compensate such Lender or such corporation for such reduction.                  (c)   Notwithstanding anything to the contrary in this Agreement (including clauses (a)  and (b) above), reimbursement pursuant to this Section 2.13 for (A) increased costs arising from any market   disruption (i) shall be limited to circumstances generally affecting the banking market and (ii) may only be   requested by Lenders representing the Majority Facility Lenders with respect to the applicable Facility and   (B) increased costs because of any Change in Law resulting from clause (i) or (ii) of the proviso to the   definition of “Change in Law” may only be requested by a Lender imposing such increased costs on   borrowers similarly situated to the Borrower under syndicated credit facilities comparable to those provided   hereunder.  A certificate as to any additional amounts payable pursuant to this Section submitted by any   Lender to the Company Borrower (with a copy to the Administrative Agent) shall be conclusive in the   absence of manifest error.  The Borrower shall pay such Lender the additional amount shown as due on any   such certificate promptly after and, in any event, within 10 Business Days of receipt thereof.    Notwithstanding anything to the contrary in this Section, the Borrower shall not be required to compensate   a Lender pursuant to this Section for any amounts incurred more than nine months prior to the date that   such Lender notifies the Company Borrower of such Lender’s intention to claim compensation therefor;   provided that, if the circumstances giving rise to such claim have a retroactive effect, then such nine-month   period shall be extended to include the period of such retroactive effect.  The obligations of the Borrower   pursuant to this Section shall survive the termination of this Agreement and the payment of the Loans and   all other amounts payable hereunder.                (d)   This Section 2.13 shall not apply to any Non-Excluded Taxes or Other Taxes (each   of which is provided for in Section 2.14) or any Excluded Taxes.                  2.14 Taxes.                (a)   All payments made by any Loan Party under this Agreement or under any other  Loan Document shall be made free and clear of, and without deduction or withholding for or on account                                        -81-        

 

     of, any present or future taxes, levies, imposts, duties, charges, fees, deductions or withholdings, including   any penalties, interest and additions to tax with respect thereto, now or hereafter imposed, levied, collected,   withheld or assessed by any Governmental Authority (collectively, “Taxes”), unless required by applicable   law.  If any such Taxes are required to be withheld from any amounts payable to the Administrative Agent   or any Lender hereunder or under any other Loan Document, the applicable withholding agent shall pay,  or withhold and remit, to the applicable Governmental Authority the full amount of such Taxes, and if the  Tax in question is a Non-Excluded Tax or an Other Tax, the applicable Loan Party shall pay such additional  amounts as may be necessary so that, after any required withholdings have been made (including any  withholdings attributable to any payments required to be made under this Section 2.14) each Lender (or in   the case of a payment made to the Administrative Agent for its own account, such Administrative Agent)   receives on the due date a net sum equal to what it would have received had such Non-Excluded Taxes or   Other Taxes not been levied or imposed. The Loan Parties shall, jointly and severally, indemnify the   Administrative Agent and each Lender within 20 Business Days after written demand therefor, for the full   amount of any Non-Excluded Taxes or Other Taxes levied or imposed and paid by such Person (including   Non-Excluded Taxes and Other Taxes imposed or asserted on or attributable to amounts payable under this  Section 2.14), whether or not such Non-Excluded Taxes or Other Taxes were correctly or legally imposed   or asserted by the relevant Governmental Authority; provided that if the Administrative Agent or any   Lender requests indemnification more than 90 days after the earlier of (1) the date on which the   Administrative Agent or the applicable Lender, as the case may be, received written demand for payment   of the applicable Non-Excluded Taxes or Other Taxes from the relevant Governmental Authority or (2) the   date on which the Administrative Agent or the applicable Lender, as the case may be, paid the applicable   Non-Excluded Taxes or Other Taxes, the Administrative Agent or the applicable Lender shall not be   indemnified to the extent that such failure or delay results in prejudice to the Borrower).  A certificate   stating the amount of such payment or liability and setting forth in reasonable detail the calculation thereof   prepared in good faith and delivered to the Company Borrower by a Lender (with a copy to the   Administrative Agent), or by the Administrative Agent on its own behalf or on behalf of a Lender shall be   conclusive absent manifest error.                (b)   In addition, the Borrower shall pay any Other Taxes to the relevant Governmental   Authority in accordance with applicable law.                (c)   Whenever any Taxes are payable by any Loan Party, within 45 days of the date the   payment of any such Taxes is due pursuant to applicable law, the Company Borrower shall send to the   Administrative Agent for its own account or for the account of the relevant Lender, as the case may be, a   certified copy of an original official receipt received by the relevant Loan Party showing payment thereof,   a copy of the return reporting such payment or other evidence of such payment reasonably satisfactory to   the Administrative Agent.                (d)   Any Lender that is entitled to an exemption from or reduction of withholding Tax  with respect to payments made under any Loan Document shall deliver to the Company Borrower and the  Administrative Agent, at the time or times reasonably requested by the Company Borrower or the  Administrative Agent, such properly completed and executed documentation reasonably requested by the  Company Borrower or the Administrative Agent as will permit such payments to be made without  withholding or at a reduced rate of withholding.  In addition, any Lender, if reasonably requested by the  Company Borrower or the Administrative Agent, shall deliver such other documentation prescribed by  applicable law or reasonably requested by the Company Borrower or the Administrative Agent as will  enable the Company Borrower or the Administrative Agent to determine whether or not such Lender is  subject to backup withholding or information reporting requirements.  Without limiting the generality of  the foregoing, each Lender that is not a “United States person” as defined in Section 7701(a)(30) of the  Code (a “Non-U.S. Lender”) shall deliver to the Company Borrower and the Administrative Agent two                                        -82-        

 

     original accurate and complete copies of whichever of the following is applicable: (i) U.S. Internal Revenue   Service Form W-8BEN or W-8BEN-E, as applicable (or successor forms) claiming eligibility for the  benefits of an income tax treaty to which the United States is a party, (ii)  U.S. Internal Revenue Service  Form W-8ECI (or successor forms), (iii) in the case of a Non-U.S. Lender claiming the benefits of the   exemption for portfolio interest under Section 871(h) or 881(c) of the Code, (A) a statement substantially   in the form of Exhibit C-1 (any such Exhibit C certificate, a “Form of Exemption Certificate” and (B) a   U.S. Internal Revenue Service Form W-8BEN or W-8BEN-E, as applicable (or successor forms), (iv) to  the extent a Non-U.S. Lender is not the beneficial owner (for example, where the Non-U.S. Lender is a  partnership or participating Lender), U.S. Internal Revenue Service Form W-8IMY (or successor forms) of  the Non-U.S. Lender, accompanied by Form W-8ECI, Form W-8BEN or W-BEN-E, a statement  substantially in the form of Exhibit C-2 or Exhibit C-3, Form W-9, and/or other certification documents   from each beneficial owner, as applicable (in each case, or any subsequent versions thereof or successors   thereto) that would be required under this Section 2.14(d) 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 statement substantially in the form of Exhibit C-4 on behalf of each such direct or   indirect partner), and (v) any other form prescribed by applicable United States federal income tax laws   (including the Treasury regulations) as a basis for claiming complete exemption from, or reduction in,   United States federal withholding tax on any payments to such Lender under any Loan Document.  Each   Lender that is a “United States person” as defined in Section 7701(a)(30) of the Code shall deliver to the   Company Borrower and the Administrative Agent two original copies of U.S. Internal Revenue Service   Form W-9, or any subsequent versions thereof or successors thereto, properly completed and duly executed   by such Lender claiming complete exemption from United States federal backup withholding.  The   Administrative Agent shall provide to the Company Borrower two accurate and complete original signed   copies of whichever of the following is applicable: (1) if the Administrative Agent is a United States person   (as such term is defined in Section 7701(a)(30) of the Code), Internal Revenue Service Form W-9 certifying   to such Administrative Agent’s exemption from U.S. federal backup withholding or (2) if the   Administrative Agent is not a United States person (as such term is defined in Section 7701(a)(30) of the   Code), (i) Internal Revenue Service Form W-8ECI with respect to payments received for its own account   and (ii) Internal Revenue Service Form W-8IMY (together with all required accompanying documentation)   with respect to payments received by it on behalf of the Lenders. The documentation referenced in the   previous three sentences shall be delivered by the Administrative Agent and each Lender on or before the   date it becomes a party to this Agreement.  In addition, the Administrative Agent or each Lender (as   applicable) shall deliver the Forms promptly upon the obsolescence or invalidity of any Forms previously   delivered by the Administrative Agent or such Lender and upon the written request of the Company   Borrower or the Administrative Agent.  The Administrative Agent and each Lender shall promptly notify   the Company Borrower at any time it determines that it is no longer in a position to provide any previously   delivered Form to the Company Borrower (or any other form or certification adopted by the U.S. taxing   authorities for such purpose).Notwithstanding any other provision of this paragraph (d) or Section 2.14(e),   (X) each Lender shall not be required to deliver any documentation pursuant to this paragraph (d) or Section   2.14(e) that such Lender is not legally eligible to deliver and (Y) the Administrative Agent shall not be   required to deliver any documentation pursuant to this paragraph (d) that the Administrative Agent is not   legally eligible to deliver as a result of a Change in Tax Law after the date of this Agreement.                (e)   If any Lender is entitled to an exemption from or reduction of any withholding Tax  with respect to payments under this Agreement or any other Loan Document, then such Lender shall deliver  to the Company Borrower and the Administrative Agent, at the time or times reasonably requested by the  Company Borrower or the Administrative Agent, such properly completed and executed documentation  prescribed by applicable law as will permit such payments to be made without withholding or at a reduced                                         -83-        

 

     rate of withholding, provided that the Administrative Agent or such Lender, as applicable, is legally eligible   to complete, execute and deliver such documentation and in the Administrative Agent’s or such Lender’s   judgment, as applicable, such completion, execution or submission would not materially prejudice the legal   position of the Administrative Agent and such Lender.  In addition, each Lender agrees that, whenever a   lapse in time or change in circumstances renders any documentation (including any specific documentation    required in Section 2.14(d) or (g)) obsolete, expired or inaccurate in any respect, deliver promptly to the   Company Borrower and the Administrative Agent updated or other appropriate documentation (including   any new documentation reasonably requested by the Company Borrower or the Administrative Agent) or   immediately notify the Company Borrower and the Administrative Agent in writing of its legal ineligibility   to do so.                (f)   If the Administrative Agent or any Lender determines, in its sole discretion, that it  has received a refund of any Non-Excluded Taxes or Other Taxes as to which it has been indemnified by  any Loan Party or with respect to which any Loan Party has paid additional amounts pursuant to this Section   2.14, it shall pay over such refund to the Company Borrower (but only to the extent of indemnity payments   made, or additional amounts paid, by any Loan Party under this Section 2.14 with respect to the Non-  Excluded Taxes or Other Taxes giving rise to such refund), net of all out-of-pocket expenses of the   Administrative Agent or such Lender (including any Taxes imposed with respect to such refund) and   without interest (other than any interest paid by the relevant Governmental Authority with respect to such   refund); provided that the Company Borrower, upon the request of the Administrative Agent or such   Lender, agrees to repay the amount paid over to the Company Borrower (plus any penalties, interest or   other charges imposed by the relevant Governmental Authority) to the Administrative Agent or such Lender  in the event the Administrative Agent or such Lender is required to repay such refund to such Governmental  Authority.  Notwithstanding anything to the contrary in this paragraph (f), in no event will the   Administrative Agent or any Lender be required to pay any amount to the Borrower pursuant to this   paragraph (f) the payment of which would place the Administrative Agent or such Lender in a less favorable   net after-Tax position than it 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 (f) shall not be construed   to require the Administrative Agent or any Lender to make available its tax returns (or any other information   relating to its Taxes which it deems confidential) to the Company Borrower or any other Person.                Each Lender hereby authorizes the Administrative Agent to deliver to the Loan Parties  and to any successor Administrative Agent any documentation provided by such Lender to the  Administrative Agent pursuant to Section 2.14(d) and/or Section 2.14(e).                (g)   If a payment made to a Lender under any Loan Document would be subject to  United States federal withholding Tax imposed by FATCA if such Lender were to fail to comply with the  applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b) of  the Code, as applicable), such Lender shall deliver to the Company Borrower and the Administrative Agent  at the time or times prescribed by law and at such time or times reasonably requested by the Company  Borrower 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 Borrower or the Administrative Agent as may be necessary for the Company  Borrower and the Administrative Agent to comply with their obligations under FATCA, to determine that  such Lender has complied with such Lender’s obligations under FATCA and to determine the amount, if  any, to deduct and withhold from such payment.  Solely for purposes of this paragraph (g), “FATCA” shall  include any amendments made to FATCA after the date of this Agreement.                                         -84-        

 

               (h)   The agreements in this Section 2.14 shall survive the termination of this  Agreement, the payment of the Loans and all other amounts payable hereunder, resignation of the  Administrative Agent and any assignment of rights by, or replacement of, any Lender.                 2.15 Indemnity.  The Borrower agrees to indemnify each Lender for, and to hold each    Lender harmless from, any loss 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 Eurodollar    Loans after the Company 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 of or conversion    from Eurodollar Loans after the Company Borrower has given a notice thereof in accordance with the    provisions of this Agreement or (c) the making of a prepayment of Eurodollar Loans on a day that is not    the last day of an Interest Period with respect thereto.  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, reduced, converted or continued, for the period from the date of such prepayment    or of such failure to borrow, reduce, convert or continue to the last day of such Interest Period (or, in the    case of a failure to borrow, reduce, 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 or other return 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 eurodollar market.  A certificate as to any amounts payable pursuant to this Section submitted    to the Company Borrower 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.                 2.16 Change of Lending Office.  Each Lender agrees that, upon the occurrence of any    event giving rise to the operation of Sections 2.13 or 2.14 with respect to such Lender, it will, if requested    by the Company Borrower, 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, provided, further, that nothing in this Section shall affect or postpone any of    the obligations of the Borrower or the rights of any Lender pursuant to Sections 2.13 or 2.14.                 2.17 Replacement of Lenders.  The Borrower shall be permitted to replace any Lender    that (a) requests reimbursement for amounts owing pursuant to Sections 2.11, 2.13 or 2.14 (or with    respect to which the Borrower is required to pay additional amounts or indemnity payments pursuant to    such sections), (b) becomes a Defaulting Lender or otherwise defaults in its obligation to make Loans    hereunder or (c) has not consented to a proposed change, waiver, discharge or termination of the    provisions of this Agreement as contemplated by Section 10.1 that requires the consent of all Lenders    or all Lenders under a particular Facility or each Lender affected thereby and which has been approved    by the Required Lenders as provided in Section 10.1, with a Lender or Eligible Assignee; provided that    (i) such replacement does not conflict with any Requirement of Law, (ii) in the case of clause (a), prior    to any such replacement, such Lender shall have taken no action under Section 2.16 sufficient to    eliminate the continued need for payment of amounts owing pursuant to Sections 2.11, 2.13 or 2.14, (iii)    the replacement financial institution or other Eligible Assignee shall purchase, at par, all Loans and other    amounts (or, in the case of clause (c) as it relates to provisions affecting a particular Facility, Loans or    other amounts owing under such Facility) owing to such replaced Lender on or prior to the date of    replacement, (iv) the Borrower shall be liable to such replaced Lender under Section 2.15 if any    Eurodollar Loan owing to such replaced Lender shall be purchased other than on the last day of the    Interest Period relating thereto, (v) the replacement financial institution or other Eligible Assignee, if                                       -85-      

 

                not already a Lender, shall be reasonably satisfactory to the Administrative Agent, (vi) the replaced  Lender shall be deemed to have made such replacement in accordance with the provisions of Section  10.6, (vii) until such time as such replacement shall be consummated, the Borrower shall pay all  additional amounts (if any) required pursuant to Sections 2.11, 2.13 or 2.14, as the case may be, (viii)  the Borrower shall pay to such replaced Lender all accrued and unpaid interest on all outstanding Loans  of such replaced Lender and any prepayment premium due to the Lenders under Section 2.5(b) and (ix)  any such replacement shall not be deemed to be a waiver of any rights that the Borrower, the  Administrative Agent or any other Lender shall have against the replaced Lender.  Upon any such  assignment, such replaced Lender shall no longer constitute a “Lender” for purposes hereof (or, in the  case of clause (c) as it relates to provisions affecting a particular Facility, a Lender under such Facility);  provided that any rights of such replaced Lender to indemnification hereunder shall survive as to such  replaced Lender.  Each Lender, the Administrative Agent and the Borrower agrees that in connection  with the replacement of a Lender and upon payment to such replaced Lender of all amounts required to  be paid under this Section 2.17, the Administrative Agent and the Borrower shall be authorized, without  the need for additional consent from such replaced Lender, to execute an Assignment and Assumption  on behalf of such replaced Lender, and any such Assignment and Assumption so executed by the  Administrative Agent and, to the extent required under Section 10.6, the Borrower, shall be effective for  purposes of this Section 2.17 and Section 10.6.  Notwithstanding anything to the contrary in this Section  2.17, in the event that a Lender which holds Loans or Commitments under more than one Facility does  not agree to a proposed amendment, supplement, modification, consent or waiver which requires the  consent of all Lenders under a particular Facility, the Borrower shall be permitted to replace the non- consenting Lender with respect to the affected Facility and may, but shall not be required to, replace  such Lender with respect to any unaffected Facilities.               2.18 Notes.  If so requested by any Lender by written notice to the Company Borrower  (with a copy to the Administrative Agent), the Borrower shall execute and deliver to such Lender  (and/or, if applicable and if so specified in such notice, to any Person who is an assignee of such Lender  pursuant to Section 10.6) (promptly after the Company Borrower’s receipt of such notice) a Note or  Notes to evidence such Lender’s Loans.               2.19 Incremental Credit Extensions. (a) The Borrower may, at any time or from time to  time after the Closing Date, by notice from the Company Borrower to the Administrative Agent  (whereupon the Administrative Agent shall promptly deliver a copy to each of the Lenders), request one  or more additional tranches of Loans (the commitments thereof, the “Incremental Commitments”, the  loans thereunder, the “Incremental Loans”, and a Lender making such loans, an “Incremental Lender”);  it being understood that (i) Amendment No. 1 and Amendment No. 2 each constituted an “Incremental  Amendment” with respect to the establishment of the Term B-2 Commitments as “Incremental  Commitments” and the Term B-2 Loans as “Incremental Loans” and (ii) Amendment No. 5 constituted  an “Incremental Amendment”; provided that:                   (i)   after giving effect to any such Incremental Loans, the aggregate amount     of Incremental Loans incurred after the Amendment No. 4 Effective Date shall not exceed an     amount equal to the sum of (x) an unlimited amount at any time so long as the Total Net First Lien      Leverage Ratio on a Pro Forma Basis (but without giving effect to the cash proceeds remaining on      the balance sheet of such Incremental Loans) as of the most recently completed period of four      consecutive fiscal quarters for which the financial statements and certificates required by Section      5.1(a) or (b), as the case may be, have been or were required to have been delivered does not exceed      (I) 4.35 to 1.00 or (II) in the case of any Incremental Facility incurred to consummate a Permitted      Acquisition or other Investment not prohibited by this Agreement, either (A) 4.35 to 1.00 or (B)      the Total Net First Lien Leverage Ratio immediately prior to the incurrence of such Incremental                                      -86-                                

 

                 Facility (in each case, without giving effect to any contemporaneous borrowing under clause (z)   below), plus (y) the amount of all prior voluntary prepayments of the Loans, Incremental Loans   and Indebtedness incurred pursuant to Section 6.1(b)(vi)(I) that is secured by the Collateral on a   pari passu basis with the Obligations prior to such time, plus (z) the greater of (I) $450,000,000   and (II) Consolidated EBITDA for the most recently completed period of four consecutive fiscal   quarters for which the financial statements and certificates required by Section 5.1(a) or (b), as the   case may be, have been or were required to have been delivered does not exceed, calculated on a   Pro Forma Basis (less, in the case of this clause (z), the aggregate principal amount of Indebtedness   incurred under Section 6.1(b)(vi)(I)(c) or Section 6.1(b)(vi)(II)(c)); provided that, for the avoidance   of doubt, the amount available to the Borrower pursuant to this clause (z) (A) shall not be reduced   by the Term B-1 Loans, the Term B-2 Loans or the Term B-3 Loans and (B) shall be available at   all times and shall not be subject to the ratio test described in foregoing clause (x); provided, further,   that the Borrower may incur such Indebtedness under any clause (x), (y) or (z) above in such order   as it may elect in its sole discretion; provided, further, that the Borrower may redesignate any such   Incremental Loans originally designated as incurred pursuant to clause (z) above if, at the time of   such redesignation, the Borrower would be permitted to incur under clause (x) above the aggregate   principal amount of Indebtedness being so redesignated (for purposes of clarity, with any such   redesignation having the effect of increasing the Borrower’s ability to incur indebtedness under   clause (z) above as of the date of such redesignation by the amount of such Indebtedness so   redesignated);                (ii) the Incremental Loans shall rank pari passu in right of payment and of  security with the other Loans and Commitments hereunder;               (iii) except in the case of any Designated Earlier Maturing Debt, the  Incremental Loans shall not mature earlier than the Maturity Date;               (iv)  except in the case of any Designated Earlier Maturing Debt, the  Incremental Loans shall have a Weighted Average Life to Maturity no shorter than the Weighted  Average Life to Maturity of the Loans;               (v)   subject to clauses (iii) and (iv) above, the interest rates, amortization  schedule, rate floors, upfront fees, funding discounts, original issue discounts, financial covenants  (if any), prepayment terms and premiums and other terms and conditions applicable to any such  Incremental Loans shall be determined by the Borrower and the applicable Incremental Lenders;                (vi)  no Default or Event of Default (or, in connection with a Limited Condition  Transaction, no Default or Event of Default under Section 8.1(a) or 8.1(f)) shall exist on the   Incremental Facility Closing Date with respect to any Incremental Amendment entered into in   connection therewith (and after giving effect to any Incremental Loans made thereunder); and                (vii) with respect to any Incremental Facility incurred on or prior to the date   that is six (6) months after the Amendment No. 4 Effective Date (other than Incremental Loans in   an aggregate principal amount that does not exceed $50,000,000) and that (a) is incurred pursuant   to Section 2.19(a)(i)(x) (excluding any Incremental Facility redesignated thereunder), (b) ranks   equal in right of payment with the Term B-4 Loans and is secured by the Collateral on a pari passu  basis with the Obligations, (c) is broadly syndicated, (d) is scheduled to mature prior to the date  that is twelve (12) months after the Maturity Date and (e) is denominated in U.S. Dollars, if the all- in-yield (whether in the form of interest rate margins, original issue discount, upfront fees or interest  rate floors (subject to the first proviso in this clause (vii)), with such increased amount being                                  -87-                                

 

           equated to interest margin for purposes of determining any increase to the Applicable Margin under         the Facility) with respect to the Incremental Loans made thereunder (as determined by the Borrower         and the applicable Incremental Lenders) exceeds the all-in yield (after giving effect to interest rate         margins (including the interest rate floors (subject to the first proviso in this clause (vii))), original         issue discount (equated to interest based on an assumed four-year life to maturity or, if shorter, the         remaining life to maturity thereof) and upfront fees (which shall be deemed to constitute like         amount of original issue discount), but excluding any arrangement, structuring or other fees payable         in connection therewith that are not shared with all Lenders providing such Incremental Loan,         which shall not be included and equated to the interest rate) with respect to the existing Loans, after         giving effect to any increase or repricing thereof that has theretofor become effective (it being         understood that if any such repricing was effected as a refinancing tranche, the OID applicable to         the refinanced loans shall be taken into account), by more than 50 basis points (the amount of such         excess above 50 basis points being referred to herein as the “Incremental Yield Differential”), then,         upon the effectiveness of such Incremental Amendment, the Applicable Margin then in effect for         Loans shall automatically be increased by the Incremental Yield Differential; provided, that if the         Incremental Loans include an interest-rate floor greater than the interest rate floor applicable to the        Loans, the differential between such interest rate floors shall be equated to the interest rate margins        for purposes of determining whether an increase to the Applicable Margin shall be required, but        only to the extent an increase in the interest rate floor applicable to the Loans would cause an        increase in the Applicable Margin applicable to such Loans, and in such case the interest rate floor         (but not the Applicable Margin) applicable to the Loans shall be increased to the extent of such         differential between interest rate floors; provided, further, that any Incremental Facility that         constitutes fixed-rate Indebtedness shall be swapped to a floating rate on a customary matched-        maturity basis.                (b)   Except as set forth in Section 2.19(a), the Incremental Loans shall be treated   substantially the same as the Loans, including with respect to mandatory and voluntary prepayments (unless   the applicable Incremental Lenders agree to a less than pro rata share of such prepayments) and Guarantees.    Each notice from the Company Borrower to the Administrative Agent pursuant to Section 2.19(a) shall set   forth the requested amount and proposed terms of the relevant Incremental Loans.                (c)   Incremental Loans may be made by any existing Lender or any Additional Lender  (provided that no Lender shall be obligated to make a portion of any Incremental Loan) on terms permitted   in this Section 2.19 and, to the extent not permitted in this Section 2.19, all terms and documentation with   respect to any Incremental Loan which (i) are materially more restrictive on the Group Members, taken as   a whole, than those with respect to the Loans (but excluding any terms applicable after the Maturity Date)   or (ii) relate to provisions of a mechanical (including with respect to the Collateral and currency mechanics)   or administrative nature, shall in each case be reasonably satisfactory to the Administrative Agent; provided   that the Administrative Agent shall have consented (such consent not to be unreasonably withheld,   conditioned or delayed) to such Lender’s making such Incremental Loans if such consent would be required   under Section 10.6(b) for an assignment of Loans to such Lender or Additional Lender.  Commitments in   respect of Incremental Loans shall become Commitments under this Agreement pursuant to an amendment   (an “Incremental Amendment”) to this Agreement and, as appropriate, the other Loan Documents, executed   by the Borrower, each Lender agreeing to provide such Commitment, if any, each Additional Lender, if   any, and the Administrative Agent.  The 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 Borrower, to effect the   provisions of this Section including, subject to clause (b) of this Section 2.19, amendments to Sections   2.3(a) and 2.5(b) that do not adversely affect the Lenders affected thereby.  The effectiveness of any   Incremental Amendment shall be (unless waived or not required by the Incremental Lenders in connection                                        -88-        

 

     with a Limited Condition Transaction) subject to the satisfaction of the condition set forth in clause (d)   below and such other conditions as the parties thereto shall agree (the effective date of any such Incremental   Amendment, an “Incremental Facility Closing Date”).  The Borrower will use the proceeds of the   Incremental Loans for any purpose not prohibited by this Agreement.                (d)   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 where such representations  and warranties are already qualified by materiality, in which case such representation and warranty shall be  accurate in all respects) on and as of the Incremental Facility Closing Date as if made on and as of such  date, except to the extent such representations and warranties expressly relate to an earlier date, in which  case such representations and warranties shall have been true and correct in all material respects (except  where such representations and warranties are already qualified by materiality, in which case such  representation and warranty shall be accurate in all respects) as of such earlier date.                (e)   Notwithstanding anything to the contrary herein, this Section 2.19 shall supersede  any provisions in Sections 2.12 or 10.1 to the contrary and the Borrower and the Administrative Agent may   amend Section 2.12 to implement any Incremental Amendment.                  2.20 Refinancing Amendments.                (a)   At any time after the Closing Date, the Borrower may obtain, from any Lender or  any Additional Lender, Permitted Credit Agreement Refinancing Debt in respect of all or any portion of  the Loans then outstanding under this Agreement (which for purposes of this clause will be deemed to  include any then outstanding Other Loans) in the form of Other Loans or Other Commitments pursuant to  a Refinancing Amendment; it being understood that Amendment No. 4 constitutes a “Refinancing  Amendment” with respect to the establishment of the Term B-4 Commitments as “Other Commitments”  and the Term B-4 Loans as “Other Loans”; provided that such Permitted Credit Agreement Refinancing   Debt:                      (i)   shall not be permitted to rank senior in right of payment or security to the         other Loans and Commitments hereunder;                      (ii)  will have such pricing, premiums, optional prepayment terms and        financial covenants as may be agreed by the Borrower and the Lenders thereof;                     (iii)  will have a maturity date that is not prior to the maturity date of, and will        have a Weighted Average Life to Maturity that is not shorter than, the Loans being Refinanced;                      (iv)  subject to clause (ii) above, 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 Permitted Credit Agreement Refinancing Debt than, the Refinanced Debt; and                     (v)    the proceeds of such Permitted Credit Agreement Refinancing Debt shall        be applied, substantially concurrently with the incurrence thereof, to the prepayment of outstanding        Loans being so Refinanced;    provided, further, that the terms and conditions applicable to such Permitted Credit Agreement Refinancing   Debt may provide for any financial or other covenants or other provisions that are agreed between the   Borrower and the Lenders thereof and applicable only during periods after the Latest Maturity Date that is   in effect on the date such Permitted Credit Agreement Refinancing Debt is issued, incurred or obtained.                                          -89-        

 

     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 4.2 (unless waived by the Lenders providing such Permitted   Credit Agreement Refinancing Debt) and, to the extent reasonably requested by the Administrative Agent,   be subject to the 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 4.1.                (b)   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 Permitted Credit Agreement Refinancing Debt  incurred pursuant thereto (including any amendments necessary to treat the Loans and Commitments  subject thereto as Other Loans and/or Other Commitments).                (c)   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) and the other Loan Documents as may be necessary or appropriate, in the  reasonable opinion of the Administrative Agent and the Borrower, to effect the provisions of this Section.                (d)   Notwithstanding anything to the contrary in this Agreement, this Section 2.20 shall   supersede any provisions in Sections 2.12 or 10.1 to the contrary and the Borrower and the Administrative   Agent may amend Section 2.12 to implement any Refinancing Amendment.                  2.21 Defaulting Lenders.                (a)   Adjustments.  Notwithstanding anything to the contrary contained in this   Agreement, if any Lender becomes a Defaulting Lender, then, until such time as that 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 in         the definitions of “Required Lenders” and “Majority Lenders” and otherwise as set forth in Section         10.1.                      (ii) Reallocation of Payments.  Any payment of principal, interest, fees or         other amounts received by the Administrative Agent for the account of such Defaulting Lender         (whether voluntary or mandatory, at maturity, pursuant to Section 8 or otherwise), 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 hereunder;         second, as the Borrower 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; third, to the         payment of any amounts owing to the Lenders as a result of any judgment of a court of competent         jurisdiction obtained by any Lender against such Defaulting Lender as a result of such Defaulting         Lender’s breach of its obligations under this Agreement; fourth, so long as no Default or Event of         Default exists, to the payment of any amounts owing to the Borrower as a result of any judgment         of a court of competent jurisdiction obtained by the Borrower against such Defaulting Lender as a         result of such Defaulting Lender’s breach of its obligations under this Agreement; and fifth, to such         Defaulting Lender or as otherwise directed by a court of competent jurisdiction; provided that if         such payment is a payment of the principal amount of any Loans and such Lender is a Defaulting                                        -90-        

 

           Lender under clause (a) of the definition thereof, such payment shall be applied solely to pay the        relevant Loans of the relevant  non-Defaulting Lenders on a pro rata basis.  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 shall be deemed paid to and redirected by such         Defaulting Lender, and each Lender irrevocably consents hereto.                (b)   Defaulting Lender Cure.  If the Borrower and the Administrative Agent agree in   writing that a Defaulting Lender should no longer be deemed to be a Defaulting Lender, the Administrative  Agent will so notify the parties hereto, whereupon as of the effective date specified in such notice and  subject to any conditions set forth therein (which may include arrangements with respect to any cash  collateral), such Lender will, to the extent applicable, purchase 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 to be held on a pro rata basis by the Lenders in accordance with their Pro Rata Share   (without giving effect to Section 2.21(a)(ii)), 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 the Borrower while such Lender was a Defaulting Lender; 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’s   having been a Defaulting Lender.                (c)   No Release.  The provisions hereof attributable to Defaulting Lenders shall not   release or excuse any Defaulting Lender from failure to perform its obligations hereunder.                  2.22 Loan Modification Offers.                (a)   The Borrower may, on one or more occasions, by written notice to the  Administrative Agent, make one or more offers (each, a “Loan Modification 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 Modification   Offer, a “Specified Class”) to make one or more Permitted Amendments pursuant to procedures reasonably   specified by the Administrative Agent and reasonably acceptable to the Borrower; provided that (i) any   such offer shall be made by the Borrower to all Lenders with Loans 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), (ii) no Default or Event of Default shall have occurred and be continuing at the time of   any such offer and (iii) any applicable Minimum Extension Condition shall be satisfied unless waived by   the Borrower.  Such notice shall set forth (i) the terms and conditions of the requested Permitted  Amendment and (ii) the date on which such Permitted Amendment is requested to become effective (which  shall not be less than five Business Days nor more than 45 Business Days after the date of such notice,  unless otherwise agreed to by the Administrative Agent); provided that, notwithstanding anything to the   contrary, (x) assignments and participations of Specified Classes shall be governed by the same or, at the   Borrower’s discretion, more restrictive assignment and participation provisions than those set forth in   Section 10.6, and (y) no repayment of Specified Classes shall be permitted unless such repayment is   accompanied by an at least pro rata repayment of all earlier maturing Loans (including previously extended   Loans) (or all earlier maturing Loans (including previously extended Loans) shall otherwise be or have   been terminated and repaid in full).  Permitted Amendments shall become effective only with respect to the   Loans and Commitments of the Lenders of the Specified Class that accept the applicable Loan Modification   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 have any obligation to accept any Loan Modification Offer.                                         -91-        

 

                 (b)   A Permitted Amendment shall be effected pursuant to an amendment to this  Agreement (a “Loan Modification Agreement”) executed and delivered by the Borrower, each applicable   Accepting Lender and the Administrative Agent.  The Administrative Agent shall promptly notify each   Lender as to the effectiveness of each Loan Modification Agreement.  No Loan Modification Agreement   shall provide for any extension of any Specified Class in an aggregate principal amount that is less than   25% of such Specified Class then outstanding or committed, as the case may be.  Each Loan Modification   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 Borrower, to give effect to the provisions of this Section   2.22, 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 (x) no Loan   Modification Agreement may provide for (i) any Specified Class to be secured by any Collateral or other   assets of any Group Member that does not also secure the Loans and (ii) so long as any Loans are   outstanding, any mandatory or voluntary prepayment provisions that do not also apply to the Loans on a   pro rata basis; and (y) the terms and conditions of the applicable Loans and/or Commitments of the   Accepting Lenders (excluding pricing, fees, rate floors and optional prepayment or redemption terms) shall   be substantially identical to, or (taken as a whole) shall be no more favorable to, the Accepting Lenders   than those applicable to the Specified Class (except for financial covenants or other covenants or provisions   applicable only to periods after the Latest Maturity Date at the time of such Loan Modification Offer, as   may be agreed by the Borrower and the Accepting Lenders).                (c)   Subject to Section 2.22(b), the Borrower may at its election specify as a condition   (a “Minimum Extension Condition”) to consummating any such Loan Modification Agreement that a   minimum amount (to be determined and specified in the relevant Loan Modification Offer in the Borrower’s   sole discretion and may be waived by the Borrower) of Loans of any or all applicable Classes be extended.                (d)   Notwithstanding anything to the contrary in this Agreement, this Section 2.22 shall   supersede any provisions in Sections 2.12 or 10.1 to the contrary and the Borrower and the Administrative   Agent may amend Section 2.12 to implement any Loan Modification Agreement.                  2.23 MIRE Event.  Notwithstanding anything to the contrary herein, if there are     Mortgages at such time, any amendment to this Agreement pursuant to which any increase, extension,     or renewal of Loans is contemplated shall be subject to flood insurance due diligence and flood insurance     compliance in accordance with Section 5.5 hereto.    SECTION 3   REPRESENTATIONS AND WARRANTIES                To induce the Administrative Agent and the Lenders to enter into this Agreement and to  make the Loans, each Loan Party (in the case of Holdings, only in respect of itself to the extent set forth in  this Section 3) hereby jointly and severally represents and warrants to the Administrative Agent and each   Lender that:                  3.1 Financial Condition.                (a)   The unaudited balance sheets and related unaudited statements of income and  comprehensive income and statement of cash flows related to the Company Borrower for the fiscal quarter  ended June 28, 2014 present fairly in all material respects the consolidated financial condition of the  Company Borrower and its consolidated Subsidiaries as at such applicable date, and the consolidated results  of its operations and its consolidated cash flows for the respective fiscal quarters then ended. All such                                         -92-        

 

     financial statements, including the related schedules and notes thereto, have been prepared in accordance   with GAAP applied consistently throughout the periods involved.                (b)   The audited balance sheets for the fiscal years ended December 31, 2013 and   December 31, 2012 and related statements of income and comprehensive income and statements of cash   flows related to the Company Borrower for the fiscal years ended December 31, 2013, December 31, 2012   and December 31, 2011, in each case reported on by and accompanied by an unqualified report as to going   concern or scope of audit from PricewaterhouseCoopers LLP, present fairly in all material respects the   consolidated financial condition of the Company Borrower and its consolidated Subsidiaries as at such   applicable date, and the consolidated results of its operations and its consolidated cash flows for the   respective fiscal years then ended.  All such financial statements, including the related schedules and notes   thereto, have been prepared in accordance with GAAP applied consistently throughout the periods involved   (except as approved by the aforementioned firm of accountants and disclosed therein).                   3.2 No Change.  Since December 31, 2016, there has been no development or event     that has had or would reasonably be expected to have a Material Adverse Effect.                  3.3 Existence; Compliance with Law.  Each Group Member (a) is duly organized,     validly existing and (where applicable in the relevant jurisdiction) in good standing under the laws of     the jurisdiction of its organization, (b) has the power and authority 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, (c)     is duly qualified as a foreign corporation or other organization and (where applicable in the relevant     jurisdiction) in good standing under the laws of each jurisdiction where its ownership, lease or operation     of property or the conduct of its business requires such qualification and (d) is in compliance with all     Requirements of Law, except in the case of clauses (a) (as it relates to good standing), (c) and (d) above,     to the extent that the failure to comply therewith would not, in the aggregate, reasonably be expected to     have a Material Adverse Effect.                  3.4 Power; Authorization; Enforceable Obligations.                (a)   Each Loan Party has the 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 Borrower, to obtain extensions  of credit hereunder.  Each Loan Party has taken all necessary organizational action to authorize the  execution, delivery and performance of the Loan Documents to which it is a party and, in the case of the  Borrower, to authorize the extensions of credit on the terms and conditions of this Agreement and to  authorize the other Transactions.                (b)   No Governmental Approval or consent or authorization of, filing with, notice to or  other act by or in respect of, any other Person is required in connection with the extensions of credit  hereunder or with the execution, delivery, performance, validity or enforceability of this Agreement or any  of the Loan Documents, except (i) Governmental Approvals, consents, authorizations, filings and notices  that have been obtained or made and are in full force and effect and (ii) the filings referred to in Section   3.15.  No Governmental Approval or consent or authorization of, filing with, notice to or other act by or in   respect of, any other Person is required in connection with the consummation of the Transactions, except   (x) Governmental Approvals, consents, authorizations, filings and notices that have been obtained or made   and are in full force and effect, (y) the filings referred to in Section 3.15 and (iii) those, the failure of which   to obtain or make would not reasonably be expected to have a Material Adverse Effect.                (c)   Each Loan Document has been duly executed and delivered on behalf of each  applicable Loan Party.  This Agreement constitutes, and each other Loan Document upon execution will                                         -93-        

 

   constitute, a legal, valid and binding obligation of each applicable Loan Party, enforceable against each  such Loan Party in accordance with its terms, except as enforceability may be limited by 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).                 3.5 No Legal Bar.  The execution, delivery and performance of this Agreement and    the other Loan Documents, the borrowings and guarantees hereunder and the use of the proceeds thereof    will not violate any material Requirement of Law, any Contractual Obligation of any Group Member    that is material to the Company Borrower and its Subsidiaries, taken as a whole, or the Organizational    Documents of any Loan Party 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, any such    Organizational Documents or any such Contractual Obligation (other than the Liens created by the    Security Documents and the ABL Documents).  The consummation of the Transactions will not (a)    violate (x) any Requirement of Law or any Contractual Obligation of any Group Member, except as    would not reasonably be expected to have a Material Adverse Effect or (y) the Organizational    Documents of any Loan Party and (b) 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, any such    Organizational Documents or any such Contractual Obligation (other than the Liens created by the    Security Documents and the ABL Documents).                 3.6 Litigation.  No litigation, suit or proceeding of or before any arbitrator or    Governmental Authority is pending or, to the knowledge of any Loan Party, threatened by or against    any Group Member or against any of their respective properties, assets or revenues (a) with respect to    any of the Loan Documents or any of the transactions contemplated hereby or thereby, or (b) as to which    there is a reasonable possibility of an adverse determination that would reasonably be expected to have    a Material Adverse Effect.                 3.7 Ownership of Property; Liens.  Each Group Member 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 property, and none of such property is subject to any Lien except as permitted by Section 6.6 and    except where the failure to have such title or other interest would not, individually or in the aggregate,    reasonably be expected to have a Material Adverse Effect.                   3.8 Intellectual Property.  Except as could not, individually or in the aggregate,    reasonably be expected to have a Material Adverse Effect, the Group Members own, or are licensed to    use, all intellectual property necessary for the conduct in all material respects of the business of the    Company Borrower and its Restricted Subsidiaries, taken as a whole, as currently conducted.  No    material claim has been asserted and is pending by any Person challenging or questioning any Group    Member’s use of any intellectual property or the validity or effectiveness of any Group Member’s    intellectual property or alleging that the conduct of any Group Member’s business infringes or violates    the rights of any Person, nor does Holdings or the Borrower know of any valid basis for any such claim    except for such claims that could not reasonably be expected to impair or interfere in any material respect    with the operations of the business conducted by the Company Borrower and its Restricted Subsidiaries,    taken as a whole, or result in a Material Adverse Effect.                 3.9 Taxes.  Except as set forth on Schedule 3.9 or as could not, individually or in the    aggregate, reasonably be expected to have a Material Adverse Effect, (i) each Group Member has filed    or caused to be filed all Tax returns that are required to be filed and has paid all Taxes due and payable    (including in its capacity as a withholding agent), whether or not shown on such Tax returns, and any    assessments made against it or any of its property by any Governmental Authority (other than any                                       -94-      

 

       amount or validity of which are 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 relevant     Group Member); and (ii) no Tax Lien has been filed, and, to the knowledge of any of the Group     Members, no claim is being asserted, with respect to any such tax, fee or other charge.  No Tax     assessment, deficiency or other claim has been filed, and, to the knowledge of any of the Group     Members, is being threatened in writing, with respect to any Taxes that, individually or in the aggregate,     would reasonably be expected to have a Material Adverse Effect.                  3.10 Federal Regulations.  No Group Member is engaged principally, or as one of its     important activities, in the business of extending credit for the purpose, whether immediate, incidental     or ultimate, of buying or carrying Margin Stock, and no part of the proceeds of any Loans, and no other     extensions of credit hereunder, will be used for the purpose of buying or carrying Margin Stock or for     any purpose that violates the provisions of the Regulations of the Board.                  3.11 ERISA.  Neither a Reportable Event nor a failure to meet the minimum funding     standards of Section 412 or 430 of the Code or Section 302 or 303 of ERISA has occurred during the     five-year period prior to the date on which this representation is made or deemed made with respect to     any Plan.  Except as would not reasonably be expected to have, individually or in the aggregate, a     Material Adverse Effect, each Plan has been operated and maintained in compliance in all respects with     the applicable provisions of ERISA and the Code.  No termination of a Single Employer Plan has     occurred, and no Lien in favor of the PBGC or a Plan has arisen, during such five-year period.  The     present value of all accrued benefits under each Single Employer Plan (based on those assumptions used     to fund such Plans) did not, as of the last annual valuation date prior to the date on which this     representation is made or deemed made, exceed the value of the assets of such Plan allocable to such     accrued benefits by a material amount.  Neither the Borrower 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 a material liability under ERISA.  No such Multiemployer Plan is in     Reorganization or Insolvent.                  3.12 Investment Company Act.  None of the Loan Parties is required to register as an     “investment company” under the Investment Company Act of 1940, as amended from time to time.                  3.13 Environmental Matters.  Except as, in the aggregate, would not reasonably be     expected to have a Material Adverse Effect:                (a)   the facilities and real properties owned, leased or operated by any Group Member  (the “Properties”) do not contain, and (to the knowledge of the Group Members) have not previously   contained, any Materials of Environmental Concern in amounts or concentrations or under circumstances   that constitute or constituted a violation of any Environmental Law;                (b)   no Group Member has received any written notice of violation, alleged violation,  non-compliance, liability or potential liability regarding environmental matters or compliance with  Environmental Laws with regard to any of the Properties or the business operated by any Group Member  (the “Business”), nor does any Loan Party have knowledge that any such notice is being threatened;                (c)   Materials of Environmental Concern have not been released, transported,  generated, treated, stored or disposed of from the Properties in violation of, or in a manner or to a location  that is reasonably expected to give rise to liability under, any Environmental Law;               (d)    no judicial proceeding or governmental or administrative action is pending or, to  the knowledge of any Group Member, threatened, under any Environmental Law to which any Group                                        -95-        

 

     Member is or will be named as a party with respect to the Properties or the Business, nor are there any   consent decrees or other decrees, consent orders, administrative orders or other orders, or other judicial   requirements outstanding under any Environmental Law with respect to the Properties or the Business;                (e)   the Properties and all operations at the Properties are in compliance, and (to the   knowledge of the Group Members) have in the past been in compliance, with all applicable Environmental   Laws;                (f)   to the knowledge of the Group Members, there are no past or present conditions,  events, circumstances, facts, or activities that would reasonably be expected to give rise to any liability or  other obligation for any Group Member under any Environmental Laws;                (g)   no Group Member has assumed any liability of any other Person under  Environmental Laws.                  3.14 Accuracy of Information, etc.  No statement or information concerning any Group     Member or the Business contained in this Agreement, any other Loan Document, the Lender     Presentation or any other document, certificate or statement furnished by or on behalf of any Loan Party     to the Administrative Agent or the Lenders, or any of them, 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 Amendment No. 4 Effective Date), any untrue statement of a material fact or omitted to state a     material fact necessary to make the statements contained herein or therein not materially misleading.      The projections and pro forma financial information, taken as a whole, contained in the materials     referenced above are based upon good faith estimates and assumptions believed by management of the     Company Borrower to be reasonable at the time made and as of the Closing Date (with respect to such     projections and pro forma financial information delivered prior to the Closing Date), it being recognized     by the Lenders that such financial information as it relates to future events is not to be viewed as fact,     forecasts and projections are subject to uncertainties and contingencies, 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 and no assurance can be given that any forecast or projections will be realized.                  3.15 Security Documents.                 (a)   Each of the Security Documents is effective to create or record in favor of the  Administrative Agent, for the benefit of the Secured Parties, a legal, valid and enforceable security interest  in the Collateral described therein and proceeds thereof.  In the case of (i) the Capital Stock described in  the Security Agreement that are securities represented by stock certificates or otherwise constituting  certificated securities within the meaning of Section 8-102(a)(15) of the New York UCC or the  corresponding code or statute of any other applicable jurisdiction, when certificates representing such  Capital Stock are delivered to the Administrative Agent, and (ii) in the case of the other Collateral not  described in clause (i) constituting personal property described in the Security Agreement, when financing  statements and other filings, agreements and actions specified on Schedule 3.15(a) in appropriate form are   executed and delivered, performed or filed in the offices specified on Schedule 3.15(a), as the case may be,   the Administrative Agent, for the benefit of the Secured Parties, shall have a fully perfected Lien on, and   security interest in, all right, title and interest of the Loan Parties in such Collateral and the proceeds thereof,   as security for the Obligations, in each case prior and superior in right to any other Person (except, in the   case of Permitted Liens).  Other than as set forth on Schedule 3.15(a), as of the Closing Date, none of the   Capital Stock of the Borrower or Company Subsidiary Guarantor that is a limited liability company or   partnership is a Certificated Security (as defined in the Security Agreement).                                         -96-        

 

                 (b)   Each of the Mortgages delivered on or after the Closing Date is, or upon execution  and recording will be, effective to create in favor of the Administrative Agent, for the benefit of the Secured  Parties, a legal, valid and enforceable Lien on the Mortgaged Properties described therein and proceeds  thereof, and when the Mortgages are filed in the recording offices for the applicable jurisdictions in which  the Mortgaged Properties are located, each such Mortgage shall constitute a fully perfected Lien on, and  security interest in, all right, title and interest of the Loan Parties in the Mortgaged Properties and the  proceeds thereof, as security for the Obligations (as defined in the relevant Mortgage), in each case prior  and superior in right to any other Person other than holders of Permitted Liens.  Schedule 1.1C lists, as of   the Closing Date, each Material Property located in the United States and held by any Loan Party.                  3.16 Solvency.  As of the Closing Date, the Group Members, on a consolidated basis,     after giving effect to the Transactions and the incurrence of all Indebtedness and obligations being     incurred in connection herewith and therewith and the other transactions contemplated hereby and     thereby, will be and will continue to be, Solvent.                  3.17 Patriot Act; FCPA; OFAC.                (a)   To the extent applicable, each Loan Party and each Group Member is in  compliance, in all material respects, with the Patriot Act.                (b)   The Borrower has implemented and maintains in effect policies and procedures  reasonably designed to ensure compliance by the Borrower, its Subsidiaries and their respective directors,  officers, employees and agents, to the extent acting on behalf of the Borrower or its Subsidiaries, with  applicable Sanctions and the U.S. Foreign Corrupt Practices Act of 1977, as amended, and, to the  knowledge of the Borrower, other applicable anti-corruption laws, and the Borrower, Holdings, their  respective Subsidiaries and their respective officers, directors and employees and, to the knowledge of the  Borrower, their respective agents, are in compliance with applicable Sanctions, the U.S. Foreign Corrupt  Practices Act of 1977, as amended, and, to the knowledge of the Borrower, other applicable anti-corruption  laws, in all material respects.  None of (a) the Borrower, any Restricted Subsidiary or any of their respective  directors, officers or employees, or (b) to the knowledge of the Borrower, any agent, affiliate or other  representative of the Borrower or any Subsidiary is a Sanctioned Person, nor is the Borrower or any  Subsidiary located, organized or resident in a Sanctioned Country.  No use of proceeds of the Loan by the  Borrower, its Restricted Subsidiaries and their respective directors, officers, employees and agents will  violate applicable Sanctions, the U.S. Foreign Corrupt Practices Act of 1977, as amended, or to the  knowledge of the Borrower, any other applicable anti-corruption laws.                    3.18 Status as Senior Indebtedness.  The Obligations under the Facilities constitute     “senior debt,” “senior indebtedness,” “guarantor senior debt,” “senior secured financing” and     “designated senior indebtedness” (or any comparable term) for all Indebtedness (if any) that is     subordinated in right of payment to the Obligations.          Notwithstanding anything herein or in any other Loan Document to the contrary, no officer of any  Group Member shall have any personal liability in connection with the representations and warranties and  other certifications in this Agreement or any other Loan Document.    SECTION 4   CONDITIONS PRECEDENT                  4.1 Conditions to Closing Date.  The agreement of each Lender to make the Loan to     be made by it under this Agreement on the Closing Date is subject to the satisfaction, prior to or     concurrently with the making of such Loan on the Closing Date, of the following conditions precedent:                                         -97-        

 

               (a)   Loan Documents.  The Administrative Agent shall have received:                     (i)   this Agreement, executed and delivered by the Borrower, each Guarantor       and each Person listed on Schedule 1.1A;                     (ii) the Security Agreement, executed and delivered by the Borrower and the       Guarantors;                    (iii) the ABL-Term Intercreditor Agreement, executed and delivered by the       Borrower, the Guarantors, the Administrative Agent and the ABL Agent;                     (iv)  [reserved];                     (v)   [reserved];                     (vi)  the Intellectual Property Security Agreements, executed and delivered by       each applicable Loan Party;                     (vii) each other Security Document, executed and delivered by each applicable       Loan Party;                    (viii) each Note, executed by the Borrower in favor of each Lender requesting       the same;                    (ix)  [reserved];                    (x)   [reserved];                    (xi)  [reserved]; and                    (xii) a Borrowing Request, executed and delivered by the Company Borrower       and/or Tower Borrower.               (b)   ABL Documents.  The ABL Documents shall be in full force and effect.               (c)   Existing Debt Release/Repayment.  The Existing Debt Release/Repayment shall  have been or, substantially concurrently with the borrowing of the Loans shall be, consummated, and after  giving effect to the Transactions, the Group Members shall have outstanding no Indebtedness other than (i)  the Loans, (ii) Indebtedness in respect of the ABL Credit Agreement and (iii) Indebtedness permitted to be  outstanding under Section 6.1(b)(iii) of this Agreement.               (d)   Financial Statements.  The Lenders shall have received (a) audited balance sheets  for the fiscal years ended December 31, 2013 and December 31, 2012 and related statements of income and  comprehensive income and statements of cash flows related to the Company Borrower for the fiscal years  ended December 31, 2013, December 31, 2012 and December 31, 2011 and (b) unaudited balance sheets  and related statements of income and comprehensive income and statement of cash flows related to the  Company Borrower for the fiscal quarter ended June 28, 2014.               (e)   Fees.  The Lenders and the Administrative Agent shall have received all fees  required to be paid on or prior to the Closing Date, and all expenses required to be paid on the Closing Date  for which reasonably detailed invoices have been presented (including the reasonable, fees and expenses of                                       -98-      

 

     legal counsel to the Administrative Agent) to the Company Borrower at least three Business Days prior to   the Closing Date.                (f)   Closing Certificate; Certified Certificate of Incorporation; Good Standing   Certificates.  The Administrative Agent shall have received (i) a certificate of each Loan Party, dated the   Closing Date, in form and substance reasonably acceptable to the Administrative Agent, with appropriate   insertions and attachments, including certified organizational authorizations, incumbency certifications, the   certificate of incorporation or other similar Organizational Document of each Loan Party certified by the   relevant authority of the jurisdiction of organization of such Loan Party and bylaws or other similar   Organizational Document of each Loan Party certified by a Responsible Officer as being in full force and  effect on the Closing Date and (ii) a good standing certificate (long form, to the extent available) for each  Loan Party from its jurisdiction of organization.                (g)   Legal Opinions.  The Administrative Agent shall have received the executed legal   opinion of Fried, Frank, Harris, Shriver & Jacobson, LLP, special counsel to the Loan Parties, and executed   legal opinions of each local counsel to the Loan Parties set forth on Schedule 4.1(h), each of which shall be   in form and substance reasonably satisfactory to the Administrative Agent.                (h)   Pledged Stock; Stock Powers; Pledged Notes.  The Administrative Agent shall   have received (i) the certificates representing the shares of Capital Stock (to the extent certificated) pledged   pursuant to the Security Agreement, the Onex Pledge Agreement and the Canadian Pledge Agreement,   together with an undated stock power for each such certificate executed in blank by a duly authorized officer   of the pledgor thereof, and (ii)  each promissory note (if any) required to be pledged to the Administrative   Agent pursuant to the Security Agreement endorsed (without recourse) in blank (or accompanied by an   executed transfer form in blank) by the pledgor thereof.                (i)   Filings, Registrations and Recordings.  Each document (including any UCC   financing statement) required by the Security Documents or under law or reasonably requested by the   Administrative Agent to be filed, registered or recorded in order to create in favor of the Administrative   Agent, for the benefit of the Secured Parties, a perfected Lien on the Collateral described therein, prior and   superior in right to any other Person (other than Permitted Liens), shall have been executed and delivered   to the Administrative Agent in proper form for filing, registration or recordation.                (j)   Solvency Certificate.  The Administrative Agent shall have received a Solvency   Certificate, which demonstrates that the Group Members, on a consolidated basis, are and, after giving   effect to the Transactions and the other transactions contemplated hereby, will be, Solvent.                (k)   Patriot Act.  The Administrative Agent and the Lenders (to the extent reasonably   requested in writing at least 10 days prior to the Closing Date) shall have received, at least three Business   Days prior to the Closing Date, all documentation and other information that the Administrative Agent   reasonably determines to be required by Governmental Authorities under applicable “know your customer”   and anti-money-laundering rules and regulations, including the Patriot Act.                (l)   Representations and Warranties.  The representations and warranties set forth in   Section 3 shall be true and correct in all material respects (or, if already qualified by “materiality,” “Material   Adverse Effect” or similar phrases, in all respects (after giving effect to such qualification)) on and as of   the Closing Date (except those representations and warranties that address matters only as of a particular   date or only with respect to a specific period of time which need only to be true and accurate as of such   date).                                         -99-        

 

                 (m)   No Material Adverse Effect.  Since December 31, 2013, there shall not have been   any event, occurrence or development that has had, or would be reasonably expected to have, individually   or in the aggregate, a Material Adverse Effect.                (n)   Insurance Certificates. The Administrative Agent shall have received insurance   certificates satisfying the requirements of Section 4.2(b) of the Security Agreement.                (o)   Officer’s Certificate. The Administrative Agent shall have received a certificate of   a Responsible Officer of the Borrower confirming satisfaction of the conditions set forth in Section 4.2(a)   and (b).                 (p)   Perfection Certificate. The Administrative Agent shall have received a Perfection   Certificate in form reasonably acceptable to it as well as UCC, tax, judgment lien and intellectual property   lien searches reasonably requested by the Administrative Agent.                   4.2 Conditions to Each Borrowing Date. The agreement of each Lender to make any     extension of credit requested to be made by it on any date (other than its initial extension of credit on     the Closing Date or any Incremental Loan) 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 where such representations and warranties are already qualified by materiality, in which case such  representation and warranty shall be accurate 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 expressly relate to an earlier date, in  which case such representations and warranties shall have been true and correct in all material respects  (except where such representations and warranties are already qualified by materiality, in which case such  representation and warranty shall be accurate in all respects) as of such earlier date.                (b) No Default. No Default or Event of Default shall have occurred and be continuing on  the Closing Date or after giving effect to the extensions of credit requested to be made on the Closing Date.   SECTION 5    AFFIRMATIVE COVENANTS                Holdings and the Company Borrower hereby jointly and severally agree that, until all  Commitments have been terminated and the principal of and interest on each Loan, and all fees and all  other expenses or amounts payable under any Loan Document shall have been paid in full (other than  contingent indemnification obligations for which no claim has been made), each of Holdings and the  Company Borrower shall, and shall cause each if its Restricted Subsidiaries to:                  5.1 Financial Statements.  Furnish to the Administrative Agent (who shall promptly     furnish to each Lender):                (a)   as soon as available, but in any event within 90 days after the last day of each fiscal  year of the Company Borrower ending thereafter, a copy of the audited consolidated balance sheet of the  Company Borrower and its consolidated Subsidiaries as at the end of such year and the related audited  consolidated statements of income and of cash flows for such year, setting forth in each case in comparative  form the figures for the previous year and accompanied by an opinion of PricewaterhouseCoopers LLP or  other independent certified public accountants of recognized national standing, which opinion shall not be  subject to qualification as to scope or contain any “going concern” qualification or exception other than  with respect to or resulting from (i) the maturity of any Indebtedness under this Agreement, the ABL Credit                                        -100-        

 

     Agreement or the Senior Notes or (ii) any potential inability to satisfy any financial covenant under any   agreement governing any Indebtedness on a future date or for a future period (provided that delivery within   the time periods specified above of copies of the Annual Report on Form 10-K of the Company Borrower  (or any direct or indirect parent company thereof) filed with the SEC shall be deemed to satisfy the  requirements of this Section 5.1(a)); and                (b)   as soon as available, but in any event within 45 days after the last day of the first  three fiscal quarters of each fiscal year of the Company Borrower, the unaudited consolidated balance sheet  of the Company Borrower and its consolidated Subsidiaries as at the end of such quarter and the related  unaudited consolidated statements of income and of cash flows for such quarter and the portion of the fiscal  year through the end of such quarter, setting forth in each case in comparative form the figures for the  previous fiscal quarter of the previous year, certified by a Responsible Officer as fairly stating in all material  respects the financial position of the Company Borrower and its consolidated Subsidiaries in accordance  with GAAP for the period covered thereby (subject to normal year-end audit adjustments and the absence  of footnotes) (provided that delivery within the time periods specified above of copies of the Quarterly   Report on Form 10-Q of the Company Borrower (or any direct or indirect parent company thereof) filed   with the SEC shall be deemed to satisfy the requirements of this Section 5.1(b)).    Notwithstanding the foregoing, the delivery by the Company Borrower of all such financial statements and   related deliverables required pursuant to clauses (a) and (b) above of Holdings (or any direct or indirect  parent company thereof) and its consolidated Subsidiaries (and not the Company Borrower and its  consolidated Subsidiaries), whether or not such filings are filed with the SEC, shall be deemed to satisfy  the requirements of Sections 5.1(a) and (b).  All such financial statements shall be complete and correct in  all material respects and shall be prepared in reasonable detail and (except as otherwise provided below) in  accordance with GAAP applied consistently (except to the extent any such inconsistent application of  GAAP has been approved by such accountants (in the case of clause (a) above) or officer (in the case of  clause (b) above), as the case may be, and disclosed in reasonable detail therein) throughout the periods  reflected therein and with prior periods.                  5.2 Certificates; Other Information.  Furnish to the Administrative Agent (who shall     promptly furnish to each Lender) or, in the case of clause (g), to the relevant Lender:                (a)   promptly upon the request of the Administrative Agent, in connection with the  delivery of any financial statements or other information pursuant to Section 5.1 or this Section 5.2,   confirmation of whether such statements or information contains any Private Lender Information.  The   Borrower and each Lender acknowledge that certain of the Lenders may be “public-side” Lenders (Lenders   that do not wish to receive material non-public information with respect to the Borrower, Holdings, their   respective Subsidiaries or their securities) and, if documents or notices required to be delivered pursuant to   Section 5.1 or this Section 5.2 or otherwise are being distributed through IntraLinks/IntraAgency, SyndTrak   or another relevant website or other information platform (the “Platform”), any document or notice that the   Company Borrower has indicated contains Private Lender Information shall not be posted on that portion   of the Platform designated for such public-side Lenders, provided that if the Company Borrower has not   indicated whether a document or notice delivered pursuant to Section 5.1 or this Section 5.2 contains Private   Lender Information, the Administrative Agent reserves the right to post such document or notice solely on   that portion of the Platform designated for Lenders who wish to receive material nonpublic information   with respect to the Borrower, Holdings, their respective Subsidiaries or their securities;                (b)   concurrently with the delivery of the financial statements referred to in Section   5.1(a), a report of the accounting firm opining on or certifying such financial statements stating that in the   course of its regular audit of the financial statements of the Company Borrower and its consolidated                                         -101-        

 

     Subsidiaries (or of Holdings (or any direct or indirect parent company thereof) and its consolidated   Subsidiaries, as the case may be), which audit was conducted in accordance with generally accepted   auditing standards, such accounting firm obtained no knowledge that any Default insofar as it relates to   financial or accounting matters has occurred or, if in the opinion of such accounting firm such a Default   has occurred, specifying the nature and extent thereof;                (c)   not later than five (5) Business Days after any delivery of any financial statements  pursuant to Section 5.1, (i) a certificate of a Responsible Officer stating that such Responsible Officer has   obtained no knowledge of any Default or Event of Default except as specified in such certificate, (ii) (x)   with respect to each annual financial statement commencing with the fiscal year of the Company Borrower  (or Holdings or any direct or indirect parent company thereof, as the case may be) ending December 31,  2018 and only to the extent the Borrower would be required to prepay the Loans pursuant to Section 2.6(b),  the amount, if any, of Excess Cash Flow for such fiscal year together with the calculation thereof in  reasonable detail), and (y) to the extent not previously disclosed to the Administrative Agent, a description  of any change in the jurisdiction of organization of any Loan Party, (iii) certifying a list of names of all  Immaterial Subsidiaries, that each Subsidiary set forth on such list individually qualifies as an Immaterial  Subsidiary and that all such Subsidiaries in the aggregate do not exceed the limitation set forth in clause (ii)  of the definition of the term “Immaterial Subsidiary”, (iv) certifying a list of names of all Unrestricted  Subsidiaries and that each Subsidiary set forth on such list individually qualifies as an Unrestricted  Subsidiary and (v) a Compliance Certificate as contemplated by the definition of Applicable Margin;                (d)   [reserved];                (e)   simultaneously with the delivery of each set of consolidated financial statements  referred to in Sections 5.1(a) and (b) above, a narrative discussion and analysis of the financial condition   and results of operations of the Company Borrower (or Holdings or any direct or indirect parent company   thereof, as the case may be) and its Restricted Subsidiaries for such fiscal quarter or fiscal year, as   applicable, and for the period from the beginning of the then current fiscal year to the end of such fiscal   quarter (or for the entire such fiscal year most recently ended in the case of such discussion and analysis   given after the end of such fiscal year), as compared to the comparable periods of the previous year   (provided that delivery within the time periods specified above of copies of the Quarterly Report on Form   10-Q and Annual Report on Form 10-K, as applicable, of the Company Borrower (or any direct or indirect   parent company thereof) filed with the SEC shall be deemed to satisfy the requirements of this Section   5.2(e));                (f)   promptly, copies of all financial statements and reports that the Company  Borrower sends generally to the holders of any class of its debt securities or public equity securities, acting  in such capacity, and, within five days after the same are filed, copies of all financial statements and reports  that the Company Borrower may make to, or file with, the SEC (other than the items referred to in Sections   5.1(a), 5.1(b) and 5.2(e));                (g)   promptly following any Lender's request therefor, 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 or terrorist financing rules and regulations,  including the Patriot Act; and                (h)   as promptly as reasonably practicable from time to time following the  Administrative Agent’s request therefor, such other information regarding the operations, business affairs  and financial condition of any Group Member, or compliance with the terms of any Loan Document, as the  Administrative Agent may reasonably request.                                        -102-        

 

                   5.3 Payment of Taxes.  Pay, discharge or otherwise satisfy at or before maturity or     before they become delinquent, as the case may be, all its Tax obligations of whatever nature, except (i)     where the failure to do so could not reasonably be expected, individually or in the aggregate, to have a     Material Adverse Effect or (ii) where the amount or validity thereof is currently being contested in good     faith by appropriate proceedings and reserves in conformity with GAAP with respect thereto have been     provided on the books of the relevant Group Member.                  5.4 Maintenance of Existence; Compliance with Law.  (a) (i) Preserve, renew and keep     in full force and effect its organizational existence and (ii) take all reasonable action to maintain or obtain     all Governmental Approvals and all other all rights, privileges and franchises, in each case necessary or     desirable in the normal conduct of its business, except, in each case, as otherwise permitted by Section     6.7 or by the Security Agreement and except, in the case of clause (ii) above, to the extent that failure to     do so could not reasonably be expected to have a Material Adverse Effect; (b) comply with all     Requirements of Law except to the extent that failure to comply therewith could not, in the aggregate,     reasonably be expected to have a Material Adverse Effect; and (c) comply with all Governmental     Approvals except to the extent that failure to do so could not reasonably be expected to have a Material     Adverse Effect.                  5.5 Maintenance of Property; Insurance.  (a)  Keep all property (other than Intellectual     Property) useful and necessary in its business in good working order and condition, ordinary wear and     tear and casualty and condemnation excepted, except to the extent the failure to do so could not     reasonably be expected to have a Material Adverse Effect, (b) maintain all the rights, licenses, permits,     privileges, franchises, patents, copyrights, trademarks and trade names material to the conduct of its     business, except to the extent the failure to do so could not reasonably be expected to have a Material     Adverse Effect and (c) maintain with insurance companies that the Company Borrower believes (in the     good faith judgment of the management of the Company Borrower) are financially sound and     responsible at the time the relevant coverage is placed or renewed insurance in at least such amounts     (after giving effect to any self-insurance which the Company Borrower believes (in the good faith     judgment of management of the Company Borrower) is reasonable and prudent in light of the size and     nature of its business) and against at least such risks (and with such risk retentions) as the Company     Borrower believes (in the good faith judgment of management of the Company Borrower) is reasonable     and prudent in light of the size and nature of its business.  The Administrative Agent shall be named as     an additional insured or loss payee, as applicable, in respect of all applicable insurance.                If any portion of any Mortgaged Property is at any time located in an area identified by the  Federal Emergency Management Agency (or any successor agency) as a special flood hazard area with  respect to which flood insurance has been made available under the Flood Insurance Laws, then the  Company Borrower shall, or shall cause the applicable Loan Party to (a) maintain, or cause to be  maintained, with a financially sound and reputable insurer, flood insurance in an amount and otherwise  sufficient to comply with all applicable rules and regulations promulgated pursuant to the Flood Insurance  Laws and (b) deliver to the Administrative Agent evidence of such compliance in form and substance  reasonably acceptable to the Administrative Agent, including, without limitation, evidence of annual  renewals of such insurance.                In connection with any amendment to this Agreement pursuant to which any increase,  extension, or renewal of Loans is contemplated, the Company Borrower shall cause to be delivered to the  Administrative Agent for any Mortgaged Property (if any), a completed “life of the loan”  Federal  Emergency Management Agency Standard Flood Hazard Determination with respect to such Mortgaged  Property, duly executed and acknowledged by the appropriate Loan Parties, and evidence of flood insurance  (to the extent required by the preceding paragraph), as applicable, in each case in form and substance  reasonably acceptable to the Administrative Agent.                                        -103-        

 

                   5.6 Inspection of Property; Books and Records; Discussions.  (a)  Keep proper books     of records and account in which entries full, true and correct in all material respects in conformity with     GAAP shall be made of all dealings and transactions in relation to its business and activities and (b)     permit, at the Borrower’s expense, representatives of the Administrative Agent to visit and inspect any     of its properties and examine and make abstracts from any of its books and records at any reasonable     time during normal business hours, upon reasonable prior written notice, and as often as may reasonably     be desired and to discuss the business, operations, properties and financial and other condition of the     Company Group Members with officers and employees of the Company Group Members and with their     independent certified public accountants; provided that (i) in no event shall there be more than one such     visit for the Administrative Agent and its representatives as a group per calendar year except during the     continuance of an Event of Default and (ii) the Company Borrower shall have the right to be present     during any discussions with accountants.                  5.7 Notices.  Promptly give notice to the Administrative Agent (who shall promptly     furnish to each Lender) of:                (a)   the occurrence of any Default or Event of Default;                (b)   the following events, promptly and in any event within 30 days after the Company  Borrower knows or has reason to know thereof:  (i) the occurrence of any Reportable Event with respect to  any Plan, a failure to make any required contribution to a Plan in a material amount, the creation of any  Lien in favor of the PBGC or a Plan or any withdrawal from, or the termination, Reorganization or  Insolvency of, any Multiemployer Plan that would result in the imposition of a material withdrawal liability,  or (ii) the institution of proceedings or the taking of any other action by the PBGC or the Company Borrower  or any Commonly Controlled Entity or any Multiemployer Plan with respect to the withdrawal from, or the  termination (in other than a “standard termination” as defined in ERISA), Reorganization or Insolvency of,  any Plan; and                (c)   any development or event that has had or could reasonably be expected to have a  Material Adverse Effect.   Each notice pursuant to this Section 5.7 shall be accompanied by a statement of a Responsible Officer of  the Company Borrower setting forth details of the occurrence referred to therein and stating what action the  relevant Group Member proposes to take with respect thereto.                  5.8 Environmental Laws.                (a)   Comply with, and take commercially reasonably action to ensure compliance by  all tenants and subtenants, if any, with, all applicable Environmental Laws, and obtain and comply with  and maintain, and take commercially reasonably action to ensure that all tenants and subtenants obtain and  comply with and maintain, any and all licenses, approvals, notifications, registrations or permits required  by applicable Environmental Laws, except where the failure to do so could not reasonably be expected to  result in a Material Adverse Effect.               (b)   Conduct and complete all investigations, studies, sampling and testing, and all  remedial, removal and other actions required under Environmental Laws and promptly comply with all  lawful orders and directives of all Governmental Authorities regarding Environmental Laws, except where  the failure to do so could not reasonably be expected to result in a Material Adverse Effect, and in the event  that any Group Member shall fail timely to commence or cause to be commenced or fail diligently to  prosecute to completion such actions, or contest such requirement in good faith as provided herein, allow                                         -104-        

 

     the Administrative Agent (at its election) to cause such actions to be performed, and promptly pay all costs   and expenses (including attorneys’ and consultants’ fees, charges and disbursements) thereof or incurred   by the Administrative Agent in connection therewith.                  5.9 Additional Collateral, etc.                (a)   With respect to any property (to the extent included in the definition of Collateral)  acquired at any time after the Closing Date by any Loan Party (or any Group Member required to become  a Loan Party pursuant to the terms of the Loan Documents) (other than (x) any property described in  paragraph (b), (c) or (d) below and (y) any property subject to a Lien expressly permitted by clauses (6)(A),   (8), (9), (12), (16), (26), (29), (35) and (38) of the definition of “Permitted Liens” to the extent and for so   long as the obligations relating to such Liens do not permit a Lien on such property in favor of the Secured   Parties) as to which the Administrative Agent, for the benefit of the Secured Parties, does not have a   perfected Lien, within 120 days (or such longer period as the Administrative Agent shall reasonably agree)   (i) execute and deliver to the Administrative Agent such amendments to the Security Agreement or such   other documents as the Administrative Agent reasonably deems necessary or advisable to grant to the   Administrative Agent, for the benefit of the Secured Parties, a security interest in such United States   property and (ii) take all actions reasonably necessary or advisable to grant to the Administrative Agent,   for the benefit of the Secured Parties, a perfected security interest (subject to Permitted Liens) in such   property, including the filing of UCC financing statements in such jurisdictions as may be required by the   Security Agreement or by law or as may reasonably be requested by the Administrative Agent.                (b)   Subject to the last sentence of this paragraph, with respect to any interest in any  Material Property either (i) owned at the Closing Date by any Loan Party or (ii) acquired by any Loan Party  (or any Group Member required to become a Loan Party pursuant to the terms of the Loan Documents)  after the Closing Date (other than any such real property subject to a Lien expressly permitted by clauses  (8), (9) and (38) of the definition of “Permitted Liens” to the extent and for so long as the obligations   relating to such Liens do not permit a Lien on such property in favor of the Secured Parties), within 120   days (or such longer period as the Administrative Agent shall reasonably agree, but (solely with respect to   any such real property acquired after the Closing Date that constitutes Material Property) in no event  prior    to  the date that is forty-five (45) days after the Company Borrower has given notice of such acquisition to  the Administrative Agent and in no event prior to the Company Borrower receiving confirmation from the  Administrative Agent that flood insurance due diligence and compliance in accordance with Section 5.5  hereof has been completed (it being understood that the applicable Loan Party’s obligation to grant a  Mortgage shall be extended for so long as is required for the Lenders to complete such flood insurance due  diligence and compliance)) of the Closing Date or the acquisition of such Material Property, as applicable,  (i) execute and deliver a Mortgage, in favor of the Administrative Agent, for the benefit of the Secured  Parties, covering such interest in real property, (ii) if requested by the Administrative Agent, provide the  Lenders with a Title Policy as well as a current ALTA survey thereof (or an existing ALTA survey  (accompanied if necessary by a “no-change” affidavit and/or other documents)) sufficient to remove the  survey exception from the Title Policy and to obtain survey coverage in the Title Policy, together with a  surveyor’s certificate in form reasonably acceptable to the Administrative Agent; provided that with respect   to the Mortgaged Properties listed on Schedule 1.1B for which any Loan Party delivers to the   Administrative Agent a second lien priority Mortgage in lieu of a Title Policy the applicable Loan Party   shall cause to be delivered to the Administrative Agent a current title search and PZR zoning report   reasonably acceptable to the Administrative Agent, (iii) if requested by the Administrative Agent, deliver   to the Administrative Agent legal opinions relating to the enforceability, due authorization, execution and   delivery of any such Mortgage and the Lien created thereby, which opinions shall be in form and substance,   and from counsel, reasonably satisfactory to the Administrative Agent, (iv) if requested by the   Administrative Agent, a completed “Life-of-Loan” Federal Emergency Management Agency standard                                        -105-        

 

     flood hazard determination with respect to each Mortgaged Property (together with a notice about special   flood hazard area status and flood disaster assistance duly executed by the Company Borrower), (v) if   requested by the Administrative Agent, with respect to any property located in a special flood hazard area,   provide a copy of, or a certificate as to coverage and a declaration page relating to, the insurance policies   required by Section 5.5, each of which (a) shall be endorsed or otherwise amended to include a lender’s   loss payable endorsement, (b) shall identify the address of each property located in a special flood hazard   area, (c) shall indicate the applicable flood zone designation, the flood insurance coverage and the   deductible relating thereto, (d) shall provide that the insurer will give the Administrative Agent 45 days   written notice of cancellation or non-renewal, and (e) shall be otherwise in form and substance satisfactory   to the Administrative Agent and (vi) provide evidence reasonably satisfactory to the Administrative Agent   of payment by the Company Borrower of all Title Policy premiums, search and examination charges,   escrow charges and related charges, mortgage recording taxes, fees, charges, costs and expenses required   for the recording of the Mortgages and issuance of the Title Policies and endorsements contemplated by   clause (ii) above.  Notwithstanding the foregoing, no Loan Party (or any Group Member required to become   a Loan Party pursuant to the terms of the Loan Documents) shall be required to provide a Mortgage with   respect to any Excluded Assets.               (c)   With respect to (x) any new Subsidiary Guarantor created or acquired after the   Closing Date by any Group Member (which, for the purposes of this Section 5.9(c), shall include any   existing Group Member that ceases to be an Excluded Domestic Subsidiary or a Non-Guarantor Subsidiary)  or (y) any Domestic Subsidiary that the Company Borrower, at its option, elects to cause to become a  Subsidiary Guarantor, within 120 days (or such longer period as the Administrative Agent shall reasonably  agree) after the date of such creation or acquisition or election (i) execute and deliver to the Administrative  Agent such amendments to this Agreement and the Security Agreement or other Security Documents as the  Administrative Agent deems necessary or advisable to grant to the Administrative Agent, for the benefit of  the Secured Parties, a perfected first priority security interest in the Capital Stock of such new Subsidiary  Guarantor that is owned by any Group Member, (ii) deliver to the Administrative Agent the certificates  representing such Capital Stock (if any), together with undated stock powers, in blank, executed and  delivered by a duly authorized officer of the relevant Group Member, (iii) cause such new Subsidiary  Guarantor (a) to execute and deliver to the Administrative Agent (x) a Guarantor Joinder Agreement or  such comparable documentation requested by the Administrative Agent to become a Subsidiary Guarantor,  (y) a joinder agreement to the Security Agreement, substantially in the form annexed thereto, (b) to take  such actions reasonably necessary or advisable to grant to the Administrative Agent for the benefit of the  Secured Parties a perfected security interest in the Collateral described in the Security Agreement with  respect to such new Subsidiary Guarantor, including the filing of UCC financing statements in such  jurisdictions as may be required by the Security Agreement or by law or as may be requested by the  Administrative Agent, and (c) to deliver to the Administrative Agent a certificate of such Subsidiary  Guarantor, in form and substance reasonably acceptable to the Administrative Agent, with appropriate  insertions and attachments, and (iv) if requested by the Administrative Agent, deliver to the Administrative  Agent legal opinions relating to the matters described above, which opinions shall be in form and substance,  and from counsel, reasonably satisfactory to the Administrative Agent.               (d)   With respect to any new Restricted Subsidiary which is directly owned by a  Borrower or a Guarantor and is a CFC Holdco or a Foreign Subsidiary that is a CFC (in each case, other  than an Immaterial Subsidiary), created or acquired after the Closing Date by any Loan Party, within 120  days (or such longer period as the Administrative Agent shall reasonably agree) after the date of such  creation or acquisition (i) execute and deliver to the Administrative Agent such amendments to the Security  Agreement or other Security Documents and, to the extent requested by the Administrative Agent, a security  agreement compatible with the laws of such Foreign Subsidiary’s jurisdiction in form and substance  reasonably satisfactory to the Administrative Agent, in each case, as the Administrative Agent reasonably                                        -106-        

 

     deems necessary or advisable to grant to the Administrative Agent, for the benefit of the Secured Parties, a   perfected security interest (subject to Permitted Liens) in the Capital Stock of such CFC Holdco or Foreign   Subsidiary that is a CFC that is directly owned by any such Loan Party (provided that in no event shall   more than 65% of the total outstanding Voting Stock of any such CFC Holdco or Foreign Subsidiary that   is a CFC be required to be so pledged), (ii) deliver to the Administrative Agent the certificates (if any)   representing such Capital Stock, together with undated stock powers, in blank, executed and delivered by   a duly authorized officer of the relevant Group Member, and take such other action as may be necessary or,   in the reasonable opinion of the Administrative Agent, desirable to perfect the Administrative Agent’s   security interest therein, and (iii) if requested by the Administrative Agent, deliver to the Administrative   Agent legal opinions relating to the matters described above, which opinions shall be in form and substance,   and from counsel, reasonably satisfactory to the Administrative Agent; provided that in the event the stamp,   excise or similar taxes of any jurisdiction applicable to the pledge of Capital Stock of any Foreign   Subsidiary organized in such jurisdiction are excessive in relation to customary practices or the benefit   afforded to the Secured Parties from such pledge and the compliance with the provisions of this Section   5.9(d) would result in the imposition of such stamp, excise or similar taxes on the Borrower and its   Restricted Subsidiaries, the Administrative Agent may elect not to require the Loan Parties to pledge such  Capital Stock of any such Foreign Subsidiary or not to require such pledge to be recorded or registered in  any applicable jurisdiction, or may defer such requirement to such date or time as the Administrative Agent  may determine.                (e)   With respect to any new Non-Guarantor Subsidiary created or acquired after the   Closing Date by any Loan Party (but excluding any such Subsidiary the Capital Stock of which constitutes   an Excluded Asset or that is a CFC Holdco or a Foreign Subsidiary that is a CFC), within 120 days (or such  longer period as the Administrative Agent shall reasonably agree) after the date of such creation or  acquisition (i) execute and deliver to the Administrative Agent such amendments to this Agreement and the  Security Agreement as the Administrative Agent deems necessary or advisable to grant to the  Administrative Agent, for the benefit of the Secured Parties, a perfected security interest (subject to  Permitted Liens) in the Capital Stock of such Non-Guarantor Subsidiary that is owned by any Loan Party,  (ii) deliver to the Administrative Agent the certificates representing such Capital Stock (if any), together  with undated stock powers, in blank, executed and delivered by a duly authorized officer of the relevant  Group Member and (iii) cause such new Subsidiary Guarantor to deliver to the Administrative Agent a  certificate of such Subsidiary Guarantor, in form and substance reasonably acceptable to the Administrative  Agent, with appropriate insertions and attachments.                (f)   Notwithstanding anything to the contrary in this Agreement (i) no actions in any  jurisdiction outside the United States shall be required in order to create any security interests in assets  located or titled outside of the United States, or to perfect any security interests in such assets, including  any intellectual property registered or applied-for in any jurisdiction outside the United States (it being  understood that there shall be no security agreements or pledge agreements governed under the laws of any  jurisdiction outside the United States) and (ii) in no event shall control agreements or perfection by control  or similar arrangements be required with respect to any Collateral (including deposit or securities accounts),  other than in respect of (x) certificated equity interests in the Borrower and its Restricted Subsidiaries  otherwise required to be pledged pursuant to the terms of any Loan Document and (y) each intercompany  note and promissory note (if any) required to be pledged to the Administrative Agent pursuant to the  Security Agreement endorsed (without recourse) in blank (or accompanied by an executed transfer form in  blank) by the pledgor thereof; provided that, to the extent any deposit and securities accounts are under the   control of the ABL Agent at any time pursuant to the terms of the ABL-Term Intercreditor Agreement, the   ABL Agent shall act as agent and gratuitous bailee for the Administrative Agent for the purpose of   perfecting the Administrative Agent’s Liens in such deposit and securities accounts.                                         -107-        

 

                            5.10 Credit Ratings.  Use commercially reasonable efforts to maintain at all times a  credit rating by each of S&P and Moody’s in respect of the Facilities provided for under this Agreement  and a corporate rating by S&P and a corporate family rating by Moody’s for the Company Borrower (it  being understood that there shall be no requirement to maintain any specific credit rating).               5.11 Further Assurances.  At any time or from time to time upon the reasonable request  of the Administrative Agent, at the expense of the Borrower, promptly execute, acknowledge and deliver  such further documents and do such other acts and things as the Administrative Agent may reasonably  request in order to effect fully the purposes of the Loan Documents.  In furtherance and not in limitation  of the foregoing, the Loan Parties shall take such actions as the Administrative Agent may reasonably  request from time to time (including the execution and delivery of guaranties, security agreements,  pledge agreements, mortgages, deeds of trust, landlord’s consents and estoppels, stock powers, financing  statements and other documents, the filing or recording of any of the foregoing, obtaining of title  insurance with respect to any of the foregoing that relates to an interest in real property, and the delivery  of stock certificates and other collateral with respect to which perfection is obtained by possession, in  each case to the extent required by the applicable Security Documents) to ensure that the Obligations  are guaranteed by the Guarantors, on a first priority basis (subject to Permitted Liens) and are secured  by substantially all of the assets (other than those assets specifically excluded by the terms of this  Agreement and the other Loan Documents) of the Loan Parties.               5.12 Designation of Unrestricted Subsidiaries.  The Borrower may at any time after the  Closing Date designate any Restricted Subsidiary of Holdings as an Unrestricted Subsidiary and  subsequently re-designate any Unrestricted Subsidiary as a Restricted Subsidiary, so long as (i) after  giving effect thereto, on a Pro Forma Basis as of the most recently completed period of four consecutive  fiscal quarters for which the financial statements and certificates required by Section 5.1(a) or (b), as the  case may be, have been or were required to have been delivered, the Company Borrower would have  been able to Incur $1.00 of additional Indebtedness under Section 6.1(a) and (ii) no Default or Event of  Default has occurred and is continuing or would result therefrom.  The designation of any Restricted  Subsidiary as an Unrestricted Subsidiary after the Closing Date shall constitute an Investment by the  applicable Loan Party or Restricted Subsidiary therein at the date of designation in an amount equal to  the fair market value of the applicable Loan Party’s or Restricted Subsidiary’s investment therein. The  designation of any Unrestricted Subsidiary as a Restricted Subsidiary shall constitute (x) the incurrence  at the time of designation of Indebtedness or Liens of such Subsidiary existing at such time, and (y) a  return on any Investment by the applicable Loan Party or Restricted Subsidiary in Unrestricted  Subsidiaries pursuant to the preceding sentence in an amount equal to the fair market value at the date  of such designation of such Loan Party’s or Restricted Subsidiary’s Investment in such Subsidiary.  For  the avoidance of doubt, the Borrower shall not be permitted to be an Unrestricted Subsidiary.                 5.13 ERISA.  Cause each Commonly Controlled Entity to maintain all Plans that are  presently in existence or may, from time to time, come into existence, in compliance with the terms of  any such Plan, ERISA, the Code and all other applicable laws, except to the extent the failure to do so  could not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect.               5.14 Use of Proceeds.  The proceeds of the Loans made on the Closing Date were used  to consummate the Transactions.  The proceeds of Term B-1 Loans made on the Amendment No. 1  Effective Date were used to consummate the Amendment No. 1 Transactions.  The proceeds of Term  B-2 Loans made on the Amendment No. 2 Funding Date were used to consummate the Amendment No.  2 Transactions.  The proceeds of Term B-3 Loans made on the Amendment No. 2 Funding Date were  used to consummate the Amendment No. 3 Transactions.  The proceeds of Term B-4 Loans made on  the Amendment No. 4 Effective Date shall be used to consummate the Amendment No. 4 Transactions.  The proceeds of the Additional Term B-4 Loans made on the Amendment No. 5 Effective Date shall be                                     -108-                                

 

       used for the purposes set forth in Amendment No. 5. The proceeds of the Incremental Loans shall be     used for working capital and general corporate purposes of the Group Members.  The proceeds of the     Other Loans shall be used as provided in Section 2.20.                  5.15 [Reserved].                  5.16 [Reserved].                  5.17 Post-Closing Actions.  The Company Borrower agrees that it will, or will cause its     relevant Subsidiaries to, complete each of the actions described below as soon as commercially     reasonable and by no later than the date set forth below with respect to such action or such later date as     the Administrative Agent may reasonably agree:                (a) The Company Borrower shall deliver to the Administrative Agent within 10 days after  the Closing Date (or such later period agreed to by the Administrative Agent in its sole discretion), in  respect of each Loan Party, evidence that all insurance required to be maintained pursuant to the Loan  Documents has been obtained and is in effect, together with the certificates of insurance, naming the  Administrative Agent, on behalf of the secured parties, as an additional insured or loss payee, as the case  may be, under all applicable insurance policies.   SECTION 6    NEGATIVE COVENANTS                Holdings and the Company Borrower hereby jointly and severally agree that, until all  Commitments have been terminated and the principal of and interest on each Loan and all fees and all other  expenses or amounts payable under any Loan Document shall have been paid in full (other than contingent  indemnification obligations for which no claim has been made), each of Holdings and the Company  Borrower shall, and shall cause its Restricted Subsidiaries to comply with this Section 6.                6.1   Limitation on Incurrence of Indebtedness and Issuance of Disqualified Stock and                     Preferred Stock.                (a)   The Company Borrower shall not, and shall not permit any of its Restricted  Subsidiaries to, directly or indirectly, Incur any Indebtedness (including Acquired Indebtedness) or issue  any shares of Disqualified Stock; and (ii) the Company Borrower shall not permit any of its Restricted  Subsidiaries to issue any shares of Preferred Stock; provided, however, that the Company Borrower and   any of its Restricted Subsidiaries may Incur Indebtedness (including Acquired Indebtedness) or issue shares   of Disqualified Stock and the Company Borrower and any of its Restricted Subsidiaries may issue shares   of Preferred Stock, in each case if the Fixed Charge Coverage Ratio of the Company Borrower and its   Restricted Subsidiaries for the most recently ended four full fiscal quarters for which internal financial   statements are available immediately preceding the date on which such additional Indebtedness is Incurred   or such Disqualified Stock or Preferred Stock is issued would have been at least 2.00 to 1.00, determined   on a pro forma basis (including a pro forma application of the net proceeds therefrom), as if the additional   Indebtedness had been Incurred, or the Disqualified Stock or Preferred Stock had been issued, as the case   may be, and the application of proceeds therefrom had occurred at the beginning of such four-quarter   period; provided, however, that, on a pro forma basis, together with any amounts Incurred or issued, as   applicable, and outstanding by Restricted Subsidiaries that are not Guarantors pursuant to Section  6.1(b)(xiv) and Section 6.1(b)(xxiii), no more than the greater of $175,000,000 and 5.00% of Total Assets   of Indebtedness, Disqualified Stock or Preferred Stock at any one time outstanding and incurred or issued,   as applicable, pursuant to this clause (xxiii) shall be incurred by Restricted Subsidiaries that are not   Guarantors;                                         -109-        

 

               (b)   The limitations set forth in Section 6.1(a) shall not apply to (such Indebtedness,  and any Indebtedness permitted to be Incurred pursuant to Section 6.1(a), “Permitted Debt”):                     (i)   Indebtedness Incurred pursuant to this Agreement and any other Loan       Document;                     (ii) Indebtedness Incurred pursuant to the ABL Documents; provided, that the        aggregate amount of Indebtedness permitted under this clause (ii) shall not exceed an amount equal        to the greater of (a) $400,000,000 and (b) the sum of (w) 85% of the book value of the accounts        receivable of the Company Borrower and its Restricted Subsidiaries, (x) 80% of the book value of        the inventory of the Company Borrower and its Restricted Subsidiaries, and (y) 50% of the book        value of the equipment of the Company Borrower and its Restricted Subsidiaries (such clauses        (b)(w), (x) and (y), collectively, the “Borrowing Base”);                     (iii) Indebtedness existing on the Amendment No. 4 Effective Date (other than       Indebtedness described in clauses (i) and (ii) of this Section 6.1(b)); provided, that any Indebtedness        in excess of $20,000,000 (other than any intercompany Indebtedness) shall be set forth on Schedule        6.1;                     (iv)  Permitted First Priority Refinancing Debt and Permitted Second Priority        Refinancing Debt;                     (v)   Permitted Unsecured Refinancing Debt;                      (vi)  Indebtedness not to exceed (I) an amount equal to the sum of (a) an        unlimited amount at any time so long as the Total Net First Lien Leverage Ratio on a Pro Forma        Basis (but without giving effect to the cash proceeds remaining on the balance sheet of such        Indebtedness) as of the most recently completed period of four consecutive fiscal quarters for which        the financial statements and certificates required by Section 5.1(a) or (b), as the case may be, have        been or were required to have been delivered (calculated assuming that such Indebtedness is fully        drawn throughout such period) does not exceed 4.35 to 1.00 (without giving effect to any        contemporaneous borrowing under clause (c) below), plus (b) the amount of all prior voluntary        prepayments of the Loans, Incremental Loans and Indebtedness incurred pursuant to this Section        6.1(b)(vi)(I) that is secured by the Collateral on a pari passu basis with the Obligations prior to        such time (less, in the case of this clause (b), the aggregate principal amount of Indebtedness        Incurred under Section 2.19(a)(i)(y) or Section 6.1(b)(vi)(II)(b)), plus (c) the greater of (I)        $450,000,000 and (II) Consolidated EBITDA for the most recently completed period of four        consecutive fiscal quarters for which the financial statements and certificates required by Section        5.1(a) or (b), as the case may be, have been or were required to have been delivered does not exceed,        calculated on a Pro Forma Basis (less, in the case of this clause (c), the aggregate principal amount        of Indebtedness Incurred under Section 2.19(a)(i)(z) or Section 6.1(b)(vi)(II)(c)); provided that the        Borrower may incur such Indebtedness under any of clause (a), (b), or (c) above in such order as it        may elect in its sole discretion and (II) an amount equal to the sum of (a) an unlimited amount at        any time so long as the Total Net Secured Leverage Ratio on a Pro Forma Basis (but without giving        effect to the cash proceeds remaining on the balance sheet of such Indebtedness) as of the most        recently completed period of four consecutive fiscal quarters for which the financial statements and        certificates required by Section 5.1(a) or (b), as the case may be, have been or were required to        have been delivered (calculated assuming that such Indebtedness is fully drawn throughout such        period) does not exceed 5.35 to 1.00, plus (b) the amount of all prior voluntary prepayments of any        Indebtedness incurred pursuant to this Section 6.1(b)(vi)(II) that is secured by the Collateral on a                                       -110-      

 

                 junior lien basis to the Obligations prior to such time, plus (c) the greater of (I) $450,000,000 and   (II) Consolidated EBITDA for the most recently completed period of four consecutive fiscal   quarters for which the financial statements and certificates required by Section 5.1(a) or (b), as the   case may be, have been or were required to have been delivered does not exceed, calculated on a   Pro Forma Basis (less, in the case of this clause (c), the aggregate principal amount of Indebtedness   Incurred under Section 2.19(a)(i)(z) or Section 6.1(b)(vi)(I)(c)); provided that the Borrower may   incur such Indebtedness under any of clause (a), (b), or (c) above in such order as it may elect in   its sole discretion; provided, further, that the Borrower may redesignate any such Indebtedness   originally designated as Incurred pursuant to Section 6.1(b)(vi)(I)(c) or Section 6.1(b)(vi)(II)(c) if,   at the time of such redesignation, the Borrower would be permitted to incur under Section   6.1(b)(vi)(I)(a) or Section 6.1(b)(vi)(II)(a), respectively, the aggregate principal amount of   Indebtedness being so redesignated (for purposes of clarity, with any such redesignation having the   effect of increasing the Borrower’s ability to incur indebtedness under Section 6.1(b)(vi)(I)(c) or   Section 6.1(b)(vi)(II)(c) as of the date of such redesignation by the amount of such Indebtedness so   redesignated); provided further, that the amount of Indebtedness that may be Incurred and   Disqualified Stock or Preferred Stock that may be issued pursuant to this clause (vi) by Restricted   Subsidiaries that are Non-Guarantor Subsidiaries, taken together with all other Indebtedness  Incurred and Disqualified Stock and Preferred Stock issued pursuant to this proviso to this clause  (vi), shall not exceed the greater of $100,000,000 and 3.50% of Total Assets (at the time such  Indebtedness is Incurred) at any one time outstanding; provided, further, that the Applicable   Requirements shall have been satisfied; provided, further, that no Indebtedness under this clause   (vi) may be Incurred at any time that a Default or Event of Default (or, in connection with a Limited   Condition Transaction, no Default or Event of Default under Section 8.1(a) or 8.1(f) has occurred   and is continuing; provided, further, that, any Indebtedness in the form of loans Incurred under   clause (vi)(I) on or prior to the date that is six (6) months after the Amendment No. 4 Effective   Date (other than Indebtedness in an aggregate principal amount that does not exceed $50,000,000)   that (a) is incurred pursuant to Section 6.1(b)(vi)(I)(a) or Section 6.1(b)(vi)(II)(a) (excluding any   Indebtedness redesignated thereunder), (b) ranks equal in right of payment with the Term B-4  Loans and is secured by the Collateral on a pari passu basis with the Obligations, (c) is broadly  syndicated, (d) is scheduled to mature prior to the date that is twelve (12) months after the Maturity  Date and (e) is denominated in U.S. Dollars shall be subject to Section 2.19(a)(vii), mutatis   mutandis;                (vii) Indebtedness (including Capitalized Lease Obligations, mortgage  financings or purchase money obligations) Incurred by the Company Borrower or any of its  Restricted Subsidiaries, Disqualified Stock issued by the Company Borrower or any of its  Restricted Subsidiaries and Preferred Stock issued by any Restricted Subsidiaries of the Company  Borrower to finance or Refinance, all or any part of the acquisition, purchase, lease, construction,  design, installation, repair, replacement or improvement of property (real or personal), plant or  equipment or other fixed or capital assets used or useful in the business of the Company Borrower  or its Restricted Subsidiaries or in a Similar Business (whether through the direct purchase of assets  or the Capital Stock of any Person owning such assets) in an aggregate principal amount, including  all Indebtedness Incurred to renew, refund, Refinance, replace, defease or discharge any  Indebtedness Incurred pursuant to this clause (vii), not to exceed the greater of $125,000,000 and  4.25% of Total Assets (at the time such Indebtedness is Incurred) at any one time outstanding;               (viii) Indebtedness (x) in respect of any bankers’ acceptance, bank guarantees,  discounted bill of exchange or the discounting or factoring of receivables for credit management  purposes, warehouse receipt or similar facilities, and reinvestment obligations related thereto,  entered into in the ordinary course of business and (y) constituting reimbursement obligations with                                  -111-                                

 

                 respect to letters of credit, bank guarantees, banker’s acceptances, warehouse receipts, or similar   instruments issued or created in the ordinary course of business, including letters of credit in respect   of workers’ compensation claims, health, disability or other employee benefits or property, casualty   or liability insurance or self-insurance or other Indebtedness with respect to reimbursement type  obligations regarding workers’ compensation claims, health, disability or other employee benefits   or property, casualty or liability insurance;                (ix)  Indebtedness arising from agreements of the Company Borrower or a   Restricted Subsidiary of the Company Borrower providing for indemnification, adjustment of   purchase price, earnout or similar obligations, in each case, Incurred in connection with the   acquisition or disposition of any business, assets or a Subsidiary of the Company Borrower in   accordance with the terms of this Agreement, other than guarantees of Indebtedness Incurred by   any Person acquiring all or any portion of such business, assets or Subsidiary for the purpose of   financing such acquisition;                (x)   shares of Preferred Stock of a Restricted Subsidiary issued to the Company  Borrower or another Restricted Subsidiary; provided that any subsequent issuance or transfer of   any Capital Stock or any other event that results in any Restricted Subsidiary that holds such shares   of Preferred Stock of another Restricted Subsidiary ceasing to be a Restricted Subsidiary or any   other subsequent transfer of any such shares of Preferred Stock (except to the Company Borrower   or another Restricted Subsidiary) shall be deemed, in each case, to be an issuance of shares of   Preferred Stock;                (xi)  Indebtedness or Disqualified Stock of (a) a Restricted Subsidiary to the  Company Borrower or (b) the Company Borrower or any Restricted Subsidiary to any Restricted  Subsidiary; provided that if the Company Borrower or a Guarantor Incurs such Indebtedness or   issues such Disqualified Stock to a Restricted Subsidiary that is not the Company Borrower or a   Guarantor such Indebtedness or Disqualified Stock, as applicable, is subordinated in right of   payment to the Loans or the Guarantee of such Guarantor, as the case may be (but only to the extent   permitted by applicable law and not giving rise to adverse tax consequences); provided, further,   that any subsequent issuance or transfer of any Capital Stock or any other event that results in any   Restricted Subsidiary lending such Indebtedness or Disqualified Stock, as applicable, ceasing to be   a Restricted Subsidiary or any other subsequent transfer of any such Indebtedness or Disqualified   Stock, as applicable, (except to the Company Borrower or another Restricted Subsidiary) shall be   deemed, in each case, to be an Incurrence of such Indebtedness or Disqualified Stock, as applicable;                (xii) Hedging Obligations Incurred in the ordinary course of business and not  for speculative purposes;               (xiii) obligations in respect of self-insurance and obligations in respect of  performance, bid, appeal and surety bonds, performance and completion guarantees, statutory,  export or import indemnities, customs and completion guarantees (not for borrowed money) and  similar obligations provided by the Company Borrower or any of its Restricted Subsidiaries or  obligations in respect of letters of credit, bank guarantees or similar instruments related thereto, in  each case, in the ordinary course of business and consistent with past practice;               (xiv) Indebtedness, Disqualified Stock or Preferred Stock in an aggregate  principal amount or liquidation preference that, when aggregated with the principal amount or  liquidation preference of all other Indebtedness, Disqualified Stock and Preferred Stock then  outstanding and Incurred pursuant to this clause (xiv), does not exceed the greater of $250,000,000                                  -112-                                

 

                 and 8.50% of Total Assets (at the time such Indebtedness is Incurred) at any one time outstanding;   provided, however, that, on a pro forma basis, together with any amounts Incurred or issued, as   applicable, and outstanding by Restricted Subsidiaries that are not Guarantors pursuant to Section   6.1(a) and Section 6.1(b)(xxiii)(x), no more than the greater of $175,000,000 and 5.00% of Total   Assets of Indebtedness, Disqualified Stock or Preferred Stock at any one time outstanding and   incurred or issued, as applicable, pursuant to this clause (xiv) shall be incurred by Restricted   Subsidiaries that are not Guarantors;                 (xv)  any guarantee by Holdings or any of its Restricted Subsidiaries of  Indebtedness or other obligations of Holdings or any of its Restricted Subsidiaries so long as the  Incurrence of such Indebtedness or other obligations by Holdings or such Restricted Subsidiary is  permitted under the terms of this Agreement; provided that if such Indebtedness is by its express   terms subordinated in right of payment to the Loans or the Guarantee of any Guarantor, any such   guarantee of Holdings or such Restricted Subsidiary with respect to such Indebtedness shall be   subordinated in right of payment to the Guarantee of Holdings or such Restricted Subsidiary  substantially to the same extent as such Indebtedness is subordinated to the Loans or the Guarantee  of Holdings or such Restricted Subsidiary, as applicable;                (xvi) any Indebtedness Incurred pursuant to Sale Leaseback Transactions;                (xvii) the Incurrence by the Company Borrower or any of its Restricted  Subsidiaries of Indebtedness or Disqualified Stock or Preferred Stock of a Restricted Subsidiary of  the Company Borrower that serves to refund, Refinance, replace or defease any Indebtedness,  Disqualified Stock or Preferred Stock Incurred as permitted under clause (a) of this Section 6.1 and   clauses (b)(ii), (b)(iii), (b)(vi), (b)(vii), (b)(xiv), (b)(xvii), (b)(xx), (b)(xxii), (b)(xxiii), (b)(xxiv),   (b)(xxix), (b)(xxx) and (b)(xxxi) of this Section 6.1 or any Indebtedness, Disqualified Stock or   Preferred Stock Incurred to so refund or Refinance such Indebtedness, Disqualified Stock or   Preferred Stock, including any additional Indebtedness, Disqualified Stock or Preferred Stock   Incurred to pay accrued and unpaid interest, fees and expenses, including any premium and   defeasance costs and fees in connection therewith (subject to the following proviso, “Refinancing   Indebtedness”) prior to its respective maturity; provided, however, that such Refinancing   Indebtedness:          (A)  has a Weighted Average Life to Maturity at the time such Refinancing  Indebtedness is Incurred which is not less than the remaining Weighted Average Life to Maturity  of the Indebtedness, being refunded or Refinanced;         (B)   has a stated maturity which is no earlier than the stated maturity of the Indebtedness  being refunded or refinanced;         (C)   to the extent such Refinancing Indebtedness Refinances (x) Subordinated  Indebtedness, such Refinancing Indebtedness is Subordinated Indebtedness, or (y) Disqualified  Stock or Preferred Stock, such Refinancing Indebtedness is Disqualified Stock or Preferred Stock;          (D)  is Incurred in an aggregate principal amount (or if issued with original issue  discount an aggregate issue price) that is equal to or less than the sum of (x) the aggregate principal  amount (or if issued with original issue discount, the aggregate accreted value) then outstanding of  the Indebtedness being Refinanced plus (y) the amount necessary to pay accrued and unpaid   interest, fees and expenses, including any premium and defeasance costs and fees Incurred in   connection with such Refinancing; and                                  -113-                                

 

                       (E)   shall not include (x) Indebtedness, Disqualified Stock or Preferred Stock of a  Subsidiary that is not a Guarantor that Refinances Indebtedness, Disqualified Stock or Preferred  Stock of the Company Borrower; (y) Indebtedness, Disqualified Stock or Preferred Stock of a  Subsidiary that is not a Guarantor that Refinances Indebtedness, Disqualified Stock or Preferred  Stock of a Guarantor; or (z) Indebtedness, Disqualified Stock or Preferred Stock of the Company   Borrower or a Restricted Subsidiary that Refinances Indebtedness, Disqualified Stock or Preferred   Stock of an Unrestricted Subsidiary;                (xviii) (w) Settlement Indebtedness, (x) Indebtedness arising from Cash   Management Services, (y) Indebtedness arising from the honoring by a bank or other financial   institution of a check, draft or similar instrument drawn against insufficient funds in the ordinary   course of business and (z) other Indebtedness in respect of netting services, automated   clearinghouse arrangements, overdraft protections and similar arrangements, in each case, in   connection with deposit accounts;                (xix) Indebtedness of the Company Borrower or any Restricted Subsidiary of   the Company Borrower supported by a letter of credit or bank guarantee issued pursuant to this   Agreement, in a principal amount not in excess of the stated amount of such letter of credit or bank   guarantee;                (xx)  Contribution Indebtedness;                (xxi) Indebtedness of the Company Borrower or any Restricted Subsidiary of   the Company Borrower consisting of (x) the financing of insurance premiums or (y) take-or-pay   obligations contained in supply arrangements;                (xxii) [Reserved];                (xxiii) (x) Indebtedness, Disqualified Stock or Preferred Stock of the Company   Borrower or any of its Restricted Subsidiaries Incurred to finance any investment or acquisition or   (y) Acquired Indebtedness of the Company Borrower or any of its Restricted Subsidiaries; provided   that, in either case, after giving effect to the transactions that result in the Incurrence or issuance  thereof, on a pro forma basis, either (a) the Company Borrower would be permitted to Incur at least  $1.00 of additional Indebtedness pursuant to the Fixed Charge Coverage Ratio test set forth in   clause (a) of this Section 6.1 or (b) the Fixed Charge Coverage Ratio of the Company Borrower   and its Restricted Subsidiaries would not be less than immediately prior to such transactions;   provided, however, that, on a pro forma basis, together with any amounts Incurred or issued, as   applicable, and outstanding by Restricted Subsidiaries that are not Guarantors pursuant to Section   6.1(a) and Section 6.1(b)(xiv), no more than the greater of $175,000,000 and 5.00% of Total Assets   of Indebtedness, Disqualified Stock or Preferred Stock at any one time outstanding and incurred or  issued, as applicable, pursuant to this clause (xxiii) shall be incurred by Restricted Subsidiaries that  are not Guarantors;                 (xxiv) the incurrence by the Company Borrower and any Guarantor of  Indebtedness represented by the Senior Notes and the guarantees thereof, as applicable;                (xxv) Guarantees (A) Incurred in the ordinary course of business in respect of  obligations of (or to) suppliers, customers, franchisees, lessors and licensees that, in each case, are  non-Affiliates or (B) otherwise constituting Investments permitted under this Agreement;                                   -114-                                

 

                     (xxvi) Indebtedness issued by the Company Borrower 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 finance the purchase or redemption       of Equity Interests of the Company Borrower or any direct or indirect parent company of the       Company Borrower to the extent described in Section 6.2(b)(iv);                     (xxvii) Indebtedness owed on a short-term basis of no longer than 30 days to       banks and other financial institutions Incurred in the ordinary course of business of the Company       Borrower and its Restricted Subsidiaries with such banks or financial institutions that arises in       connection with ordinary banking arrangements to manage cash balances of the Company       Borrower and its Restricted Subsidiaries;                    (xxviii) customer deposits and advance payments received in the ordinary course       of business from customers for goods purchased in the ordinary course of business;                    (xxix) Indebtedness consisting of obligations under deferred compensation       (including indemnification obligations, obligations in respect of purchase price adjustments, earn-      outs, incentive non-competes and other contingent obligations) or other similar arrangements       incurred or assumed in connection with any acquisition or other investment or any disposition, in       each case, not prohibited under this Agreement;                     (xxx) Indebtedness  of any Restricted Subsidiary that is not a Guarantor;       provided that, at the time of any such incurrence of Indebtedness (and after giving pro forma effect        thereto), the aggregate amount of Indebtedness incurred under this clause (xxx), when aggregated        with the outstanding amount of Indebtedness of any Restricted Subsidiary that is not a Guarantor        which serves to refinance any Indebtedness incurred as permitted under this clause (xxx) or any        Indebtedness issued to so refund or refinance such Indebtedness, does not exceed the greater of (x)        5.00% of Total Assets and (y) $175,000,000 in the aggregate; and                     (xxxi) all premiums (if any), interest (including post-petition interest), fees,        expenses, charges and additional or contingent interest on obligations described in clauses (i)        through (xxx).               (c)   For purposes of determining compliance with this Section 6.1, in the event that an  item of Indebtedness, Disqualified Stock or Preferred Stock (or any portion thereof) meets the criteria of  more than one of the categories of Permitted Debt (including clause (a) of this Section 6.1), the Company  Borrower shall, in its sole discretion, at the time of Incurrence, divide, classify or reclassify, or at any later  time divide, classify or reclassify, such item of Indebtedness, Disqualified Stock or Preferred Stock (or any  portion thereof) in any manner that complies with this Section 6.1; provided, that, Indebtedness incurred  under clauses (b)(i) or (b)(ii) of this Section 6.1 shall be deemed for all purposes of this Agreement to have  been incurred under such clauses or subclauses and shall not be reclassified.  With respect to clause (vii),  (xiv), (xxix) and (xxx) of this Section 6.1, if at any time that the Company Borrower would be entitled to  have incurred any then-outstanding item of Indebtedness under clause (a) of this Section 6.1, such item of  Indebtedness shall be automatically reclassified into an item of Indebtedness incurred pursuant to clause  (a) of this Section 6.1.  The Company Borrower will also be entitled to divide, classify or reclassify an item  of Indebtedness in more than one of the types of Permitted Debt described in clauses (a) and (b) of this  Section 6.1 without giving pro forma effect to the Indebtedness, Disqualified Stock or Preferred Stock (or  any portion thereof) Incurred pursuant to clause (b) of this Section 6.1 when calculating the amount of  Indebtedness, Disqualified Stock or Preferred Stock (or any portion thereof) that may be Incurred pursuant  to clause (a) of this Section 6.1.  For the avoidance of doubt, Indebtedness Incurred under any subclause of                                       -115-      

 

     clause (a)(i) of Section 2.19 or any subclause of clause (b)(vi) of this Section 6.1 shall be deemed to have   been Incurred solely pursuant to such specific subclause and shall not be permitted to be reclassified as   Indebtedness Incurred under the other subclause of such Section 2.19(a) or 6.1(b)(vi), as applicable.  For  purposes of determining compliance with this Section 6.1, with respect to Indebtedness Incurred, re- borrowings of amounts previously repaid pursuant to “cash sweep” provisions or any similar provisions  that provide that Indebtedness is deemed to be repaid daily (or otherwise periodically) shall only be deemed  for purposes of this Section 6.1 to have been Incurred on the date such Indebtedness was first Incurred and  not on the date of any subsequent re-borrowing thereof.  Accrual of interest, the accretion of accreted value,  the amortization of original issue discount, the payment of interest in the form of additional Indebtedness  with the same terms, the payment of dividends on Disqualified Stock or Preferred Stock in the form of  additional shares of Disqualified Stock or Preferred Stock of the same class, the accretion of liquidation  preference and increases in the amount of Indebtedness outstanding solely as a result of fluctuations in the  exchange rate of currencies will not be deemed to be an Incurrence of Indebtedness, Disqualified Stock or  Preferred Stock for purposes of this Section 6.1.  For the avoidance of doubt, the outstanding principal  amount of any particular Indebtedness shall be counted only once.  Guarantees of, or obligations in respect  of letters of credit relating to, Indebtedness that is otherwise included in the determination of a particular  amount of Indebtedness shall not be included in the determination of such amount of Indebtedness, provided   that the Incurrence of the Indebtedness represented by such guarantee or letter of credit, as the case may be,   was in compliance with this Section 6.1.                (d)   For purposes of determining compliance with any U.S. dollar-denominated  restriction on the Incurrence of Indebtedness, the U.S. dollar-equivalent principal amount of Indebtedness  denominated in a foreign currency shall be calculated based on the relevant currency exchange rate in effect  on the date such Indebtedness was Incurred, in the case of term debt, or first committed or first Incurred  (whichever yields the lower U.S. dollar equivalent), in the case of revolving credit debt; provided that if   such Indebtedness is Incurred to Refinance other Indebtedness denominated in a foreign currency, and such   refinancing would cause the applicable U.S. dollar-denominated restriction to be exceeded if calculated at   the relevant currency exchange rate in effect on the date of such refinancing, such U.S. dollar-denominated   restriction shall be deemed not to have been exceeded so long as the principal amount of such refinancing   Indebtedness does not exceed (i) the principal amount of such Indebtedness being Refinanced plus (ii) the   aggregate amount of fees, underwriting discounts, premiums and other costs and expenses incurred in   connection with such refinancing.  The principal amount of any Indebtedness incurred to refinance other   Indebtedness, if incurred in a different currency from the Indebtedness being refinanced, shall be calculated   based on the currency exchange rate applicable to the currencies in which such respective Indebtedness is   denominated that is in effect on the date of such refinancing.                  6.2 Limitation on Restricted Payments.                (a)   The Company Borrower shall not, and shall not permit any of its Restricted  Subsidiaries to, directly or indirectly:                      (i)   pay any dividend or make any distribution on account of the Company        Borrower’s or any of its Restricted Subsidiaries’ Equity Interests, including any payment made in        connection with any merger or consolidation involving the Company Borrower (other than        dividends, payments or distributions (A) payable solely in Equity Interests (other than Disqualified        Stock) of the Company Borrower or to the Company Borrower and its Restricted Subsidiaries; or        (B) by a Restricted Subsidiary so long as, in the case of any dividend or distribution payable on or        in respect of any class or series of securities issued by a Restricted Subsidiary other than a Wholly        Owned Restricted Subsidiary, the Company Borrower or a Restricted Subsidiary receives at least                                         -116-        

 

         its pro rata share of such dividend or distribution in accordance with its Equity Interests in such        class or series of securities);                    (ii)  purchase or otherwise acquire or retire for value any Equity Interests of       the Company Borrower or any other direct or indirect parent of the Company Borrower;                     (iii) make any principal payment on, or redeem, repurchase, defease or       otherwise acquire or retire for value, in each case prior to any scheduled repayment or scheduled       maturity, any Subordinated Indebtedness (other than the payment, redemption, repurchase,       defeasance, acquisition or retirement of (A) Subordinated Indebtedness in anticipation of satisfying       a sinking fund obligation, principal installment or final maturity, in each case due within one year       of the date of such payment, redemption, repurchase, defeasance, acquisition or retirement and (B)       Indebtedness permitted under Section 6.1(b)(xi)); or                     (iv)  make any Restricted Investment;   (all such payments and other actions set forth in clauses (i) through (iv) above, other than any of the  exceptions thereto, being collectively referred to as “Restricted Payments”), unless, at the time of such  Restricted Payment:               (1)   no Default or Event of Default shall have occurred and be continuing or would              occur as a consequence thereof;               (2)   in the case of Restricted Payments described in Sections 6.2(a)(i), (ii) and (iii)              above, immediately after giving effect to such transaction on a pro forma basis, the              Company Borrower could Incur $1.00 of additional Indebtedness under Section 6.1(a); and               (3)   such Restricted Payment, together with the aggregate amount of all other              Restricted Payments made by the Company Borrower and its Restricted Subsidiaries after              the Closing Date (including Restricted Payments permitted by clauses (b)(i), (b)(ii) (with              respect to the payment of dividends on Refunding Capital Stock pursuant to clause (B)              thereof only), (b)(vi)(C) and (b)(xvi) of this Section 6.2, but excluding all other Restricted              Payments permitted by clause (b) of this Section 6.2), is less than the sum of, without              duplication,                           (A)  50% of the Consolidated Net Income of the Company Borrower                   for the period (taken as one accounting period) from June 30, 2014 to the end of                   the Company Borrower’s most recently ended fiscal quarter for which internal                   financial statements are available at the time of such Restricted Payment (or, in the                   case such Consolidated Net Income for such period is a deficit, minus 100% of                    such deficit), plus                           (B)   100% of the aggregate net proceeds, including cash and the Fair                   Market Value of assets other than cash, received by the Company Borrower after                   the Closing Date from the issue or sale of Equity Interests of the Company                   Borrower or any direct or indirect parent of the Company Borrower (excluding                   (without duplication) Refunding Capital Stock (as defined below), Designated                   Preferred Stock, Cash Contribution Amount, Excluded Contributions and                   Disqualified Stock), including Equity Interests issued upon conversion of                   Indebtedness or upon exercise of warrants or options (other than an issuance or                                        -117-      

 

                 sale to a Restricted Subsidiary of the Company Borrower or an employee stock   ownership plan or trust established by the Company Borrower or any of its   Subsidiaries), plus          (C)   100% of the aggregate amount of contributions to the capital of  the Company Borrower received in cash and the Fair Market Value of property  other than cash after the Closing Date (other than Excluded Contributions,  Refunding Capital Stock, Designated Preferred Stock and Disqualified Stock and  the Cash Contribution Amount), plus          (D)  the principal amount of any Indebtedness, or the liquidation  preference or maximum fixed repurchase price, as the case may be, of any  Disqualified Stock, of the Company Borrower or any Restricted Subsidiary thereof  issued after the Closing Date (other than Indebtedness or Disqualified Stock issued  to the Company Borrower or an employee stock ownership plan or trust established  by the Company Borrower or any Restricted Subsidiary (other than to the extent  such employee stock ownership plan or trust has been funded by the Company  Borrower or any Restricted Subsidiary) that has been converted into or exchanged  for Equity Interests in the Company Borrower or any direct or indirect parent of  the Company Borrower (other than Disqualified Stock), plus          (E)   100% of the aggregate amount received by the Company  Borrower or any Restricted Subsidiary in cash and the Fair Market Value  marketable securities or other of property other than cash received by the Company  Borrower or any Restricted Subsidiary from:          (I)   the sale or other disposition (other than to the Company Borrower               or a Restricted Subsidiary) of Restricted Investments made by the               Company Borrower and its Restricted Subsidiaries and from               repurchases and redemptions of such Restricted Investments from               the Company Borrower and its Restricted Subsidiaries by any               Person (other than the  Company Borrower or any of its               Subsidiaries) and from repayments of loans or advances which               constituted Restricted Investments (other than in each case to the               extent that the Restricted Investment was made pursuant to clauses               (b)(vii) or (b)(x) of this Section 6.2),          (II)  the sale (other than to the Company Borrower or a Restricted               Subsidiary of the Company Borrower) of the Capital Stock of an               Unrestricted Subsidiary, or          (III) any distribution or dividend from an Unrestricted Subsidiary (to               the extent such distribution or dividend is not already included in               the calculation of Consolidated Net Income); plus          (F)  in the event any Unrestricted Subsidiary of the Company  Borrower has been redesignated as a Restricted Subsidiary or has been merged or  consolidated with or into, or transfers or conveys its assets to, or is liquidated into,  the Company Borrower or a Restricted Subsidiary of the Company Borrower, in  each case after the Closing Date, the Fair Market Value (as determined in                      -118-                                

 

                             accordance with the next succeeding sentence) of the Investment of the Company               Borrower in such Unrestricted Subsidiary at the time of such redesignation,               combination or transfer (or of the assets transferred or conveyed, as applicable),               after deducting any Indebtedness associated with the Unrestricted Subsidiary so               designated or combined or any Indebtedness associated with the assets so               transferred or conveyed (other than in each case to the extent that the designation               of such Subsidiary as an Unrestricted Subsidiary was made pursuant to clauses               (b)(vii) or (b)(x) of this Section 6.2 or constituted a Permitted Investment); plus                      (G)  the aggregate amount of any retained Declined Proceeds; plus                      (H)  $25,000,000.            (b)   The provisions of Section 6.2(a) will not prohibit:                (i)   the payment of any dividend or distribution or consummation of any  irrevocable redemption within 60 days after the date of declaration thereof or the giving of a  redemption notice related thereto, if at the date of declaration or notice such payment would have  complied with the provisions of this Agreement;                (ii) (A) the redemption, repurchase, defeasance, retirement or other  acquisition of any Equity Interests (“Retired Capital Stock”) of the Company Borrower or any   direct or indirect parent of the Company Borrower or any Restricted Subsidiary or Subordinated   Indebtedness of the Company Borrower or any Restricted Subsidiary, in exchange for, or out of the   proceeds of the substantially concurrent sale of, Equity Interests of the Company Borrower or any   direct or indirect parent of the Company Borrower to the extent the proceeds therefrom are   contributed to the Company Borrower or contributions to the equity capital of the Company   Borrower (other than any Disqualified Stock or any Equity Interests sold to the Company Borrower   or any Subsidiary of the Company Borrower or to an employee stock ownership plan or any trust   established by the Company Borrower or any of its Subsidiaries) (collectively, including any such   contributions, “Refunding Capital Stock”); (B) if immediately prior to the retirement of Retired   Capital Stock, the declaration and payment of dividends thereon was permitted under clause (vi) of   this Section 6.2(b), the declaration and payment of dividends on the Refunding Capital Stock (other   than Refunding Capital Stock the proceeds of which were used to redeem, repurchase, defease,   retire or otherwise acquire any Equity Interests of any direct or indirect parent company of the   Company Borrower) in an aggregate amount per year no greater than the aggregate amount of   dividends per annum that were declarable and payable on such Retired Capital Stock immediately   prior to such retirement; and (C) the declaration and payment of accrued dividends on the Retired   Capital Stock out of the proceeds of the substantially concurrent sale (other than to a Subsidiary of   the Company Borrower or to an employee stock ownership plan or any trust established by the   Company Borrower or any of its Subsidiaries) of Refunding Capital Stock;                (iii) the redemption, repurchase, defeasance or other acquisition or retirement  of Subordinated Indebtedness of the Company Borrower or any Restricted Subsidiary made by  exchange for, or out of the proceeds of the substantially concurrent sale of, new Indebtedness of  the Company Borrower or a Restricted Subsidiary that is Incurred in accordance with Section 6.1so   long as:                      (A)  the principal amount of such new Indebtedness does not exceed              the principal amount (or accreted value, if applicable) of the Subordinated                                  -119-                                

 

                             Indebtedness being so redeemed, repurchased, defeased, acquired or retired for               value (plus accrued and unpaid interest, fees and expenses, including any premium               and defeasance costs, required to be paid under the terms of the instrument               governing the Subordinated Indebtedness being so redeemed, repurchased,               defeased, acquired or retired plus any fees and expenses Incurred in connection               therewith, including reasonable tender premiums);                      (B)   such Indebtedness is subordinated to the Facilities or the related              Guarantee, as the case may be, at least to the same extent as such Subordinated              Indebtedness so purchased, exchanged, redeemed, repurchased, defeased, acquired              or retired for value;                      (C)   such Indebtedness has a final scheduled maturity no earlier than              the final scheduled maturity date of the Subordinated Indebtedness being so              redeemed, repurchased, defeased, acquired or retired; and                      (D)  such Indebtedness has a Weighted Average Life to Maturity that              is not less than the remaining Weighted Average Life to Maturity of the              Subordinated Indebtedness being so redeemed, repurchased, defeased, acquired or              retired;                (iv)  the purchase, retirement, redemption or other acquisition (or dividends to  the Company Borrower or any other direct or indirect parent of the Company Borrower to finance  any such purchase, retirement, redemption or other acquisition) for value of Equity Interests of the  Company Borrower or any other direct or indirect parent of the Company Borrower held by any  future, present or former employee, director or consultant of the Company Borrower or any direct  or indirect parent of the Company Borrower or any Subsidiary of the Company Borrower or their  estates or the beneficiaries of such estates pursuant to any management equity plan or stock option  plan or any other management or employee benefit plan or other similar agreement or arrangement;  provided, however, that the aggregate amounts paid under this clause (iv) do not exceed   $25,000,000 (with unused amounts in any calendar year being carried over to succeeding calendar   years subject to a maximum (without giving effect to the following proviso) of $50,000,000;  provided, further, however, that such amount in any calendar year may be increased by an amount   not to exceed:                      (A)  the cash proceeds received by the Company Borrower or any of              its Restricted Subsidiaries from the sale of Equity Interests (other than Disqualified              Stock) of the Company Borrower or any other direct or indirect parent of the              Company Borrower (to the extent contributed to the Company Borrower) to              members of management, directors or consultants of the Company Borrower and              its Restricted Subsidiaries or the Company Borrower or any other direct or indirect              parent of the Company Borrower that occurs after the Closing Date (provided that               the amount of such cash proceeds utilized for any such repurchase, retirement,               other acquisition or dividend will not increase the amount available for Restricted               Payments under clause (a)(iii) of this Section 6.2); plus                      (B)   the cash proceeds of key man life insurance policies received by              the Company Borrower or any direct or indirect parent of the Company Borrower              (to the extent contributed to the Company Borrower) and its Restricted              Subsidiaries after the Closing Date;                                  -120-                                

 

                       provided that the Company Borrower may elect to apply all or any portion of the aggregate         increase contemplated by clauses (A) and (B) above in any calendar year); in addition,         cancellation of Indebtedness owing to the Company  Borrower from any current or former         officer, director or employee (or any permitted transferees thereof) of the Company         Borrower or any of its Restricted Subsidiaries (or any direct or indirect parent company         thereof), in connection with a repurchase of Equity Interests of the Company Borrower         from such Persons will not be deemed to constitute a Restricted Payment for purposes of         this Section 6.2 or any other provisions of this Agreement;                      (C) the amount of any bona fide cash bonuses otherwise payable to              members of the board of directors, consultants, officers, employees, managers or              independent contractors of direct or indirect parent companies of the Company              Borrower, the Company Borrower or any Restricted Subsidiary that are foregone              in return for the receipt of Equity Interests, the Fair Market Value of which is equal              to or less than the amount of such cash bonuses; less                       (D) the amount of any Restricted Payments previously made with the cash              proceeds described in clauses (A), (B) and (C) of this clause (iv);           provided further that cancellation of Indebtedness owing to the Company Borrower or any         Restricted Subsidiary from members of the board of directors, consultants, officers,         employees, managers or independent contractors (or their respective spouses, former         spouses, successors, executors, administrators, heirs, legatees or distributees) of direct or         indirect parent companies of the Company Borrower, the Company Borrower or any         Restricted Subsidiary in connection with a repurchase of Equity Interests of the Company         Borrower or any direct or indirect parent companies of the Company Borrower will not be         deemed to constitute a Restricted Payment for purposes of this Agreement;                (v)   the payment of dividends or distributions to holders of any class or series  of Disqualified Stock of the Company Borrower or any of its Restricted Subsidiaries and any  Preferred Stock of any Restricted Subsidiaries issued or Incurred in accordance with Section 6.1;                (vi)  (A) the payment of dividends or distributions to holders of any class or  series of Designated Preferred Stock (other than Disqualified Stock) issued after the Closing Date,  (B) the payment of dividends to any direct or indirect parent of the Company Borrower, the  proceeds of which will be used to fund the payment of dividends to holders of any class or series  of Designated Preferred Stock (other than Disqualified Stock) of any direct or indirect parent of the  Company Borrower issued after the Closing Date; and (C) the declaration and payment of dividends  on Refunding Capital Stock that is Preferred Stock in excess of the dividends declarable and  payable thereon pursuant to clause (b)(ii) of this Section 6.2; provided, however, that (x) for the   most recently ended four full fiscal quarters for which internal financial statements are available  immediately preceding the date of issuance of such Designated Preferred Stock or the declaration  of such dividends on Refunding Capital Stock that is Preferred Stock, after giving effect to such  issuance (and the payment of dividends or distributions) on a pro forma basis, the Fixed Charge  Coverage Ratio of the Company Borrower and its Restricted Subsidiaries would have been at least  2.00 to 1.00 and (y) the aggregate amount of dividends declared and paid pursuant to this clause  (vi) does not exceed the net cash proceeds actually received by the Company Borrower from any  such sale of Designated Preferred Stock (other than Disqualified Stock issued after the Closing  Date);                                   -121-                                

 

                             (vii) [Reserved];               (viii) [Reserved];               (ix)  Restricted Payments that are made with Excluded Contributions;               (x)   other Restricted Payments in an aggregate amount, taken together with all  other Restricted Payments made pursuant to this clause (x) subsequent to the Amendment No. 4  Effective Date, not to exceed the greater of $100,000,000 and 3.50% of Total Assets (at the time  such Restricted Payment is made);               (xi)  the distribution, as a dividend or otherwise, of shares of Capital Stock or  other securities of, or Indebtedness owed to, the Company Borrower or a Restricted Subsidiary of  the Company Borrower by, Unrestricted Subsidiaries;                (xii) the payment of any dividends or other distributions or the making of loans  or advances to any direct or indirect parent of the Company Borrower or a Restricted Subsidiary in  amounts required for such parent to pay U.S. federal, state, foreign and/or local income taxes, (as   the case may be) imposed on with respect to any taxable period in which the Company Borrower   and/or any of its Subsidiaries is a member of a consolidated, combined, unitary or similar income   tax group (a “Tax Group”) of which such direct or indirect parent company of the Company   Borrower is the common parent, foreign, federal, state and local income taxes that are attributable   to  the Company Borrower or its Subsidiaries; provided that, for each taxable period, in each case   the amount of such payments made in respect such taxable period in the aggregate shall does not   exceed the amount of such taxes that the Company Borrower and its Subsidiaries would have been   required to pay if they were a stand-alone Tax Group with the Company Borrower as the corporate   common parent of such stand-alone Tax Group (reduced by any such taxes paid directly by the   Company Borrower or any Subsidiary);                (xiii) the payment of dividends, other distributions or other amounts to, or the   making of loans or advances to any direct or indirect parent, in the amount required for such entity   to, if applicable:                      (A)   pay amounts equal to the amounts required for any direct or               indirect parent of the Company Borrower to pay fees and expenses (including               franchise or similar taxes) required to maintain its corporate existence, customary               salary, bonus and other benefits payable to, and indemnities provided on behalf of,               officers and employees of the Company Borrower or any direct or indirect parent              of the Company Borrower, if applicable, and general corporate operating and              overhead expenses of any direct or indirect parent of the Company Borrower, if              applicable, in each case to the extent such fees, expenses, salaries, bonuses,              benefits and indemnities are attributable to the ownership or operation of the              Company Borrower, if applicable, and its Subsidiaries;                      (B)   pay, if applicable, amounts equal to amounts required for any              direct or indirect parent of the Company Borrower, if applicable, to pay interest              and/or principal on Indebtedness the proceeds of which have been contributed to              the Company Borrower or any of its Restricted Subsidiaries and that has been              guaranteed by, or is otherwise considered Indebtedness of, the Company Borrower              or any of its Restricted Subsidiaries Incurred in accordance with Section 6.1;                                  -122-                                

 

                                   (C)   pay fees and expenses Incurred by any direct or indirect parent,              other than to Affiliates of the Company Borrower, related to any equity or debt              offering of such parent (whether or not successful);                       (D)  reasonable and customary indemnification claims made by              members of the board of directors or officers, employees, directors, managers,              consultants or independent contractors of such parent entity attributable to the              ownership or operations of the Company Borrower and its Restricted Subsidiaries;                      (E)   fees and expenses otherwise permitted to be paid by the Company              Borrower and any Restricted Subsidiaries under this Agreement;                      (F)   to finance any Investment that, if made by the Company              Borrower, would be permitted by this Agreement; provided that (A) such              Restricted Payment shall be made substantially concurrently with the closing of              such Investment and (B) such direct or indirect parent company shall, immediately              following the closing thereof, cause (1) all property acquired (whether assets or              Equity Interests but not including any loans or advances made pursuant to clause              (16) of the definition of “Permitted Investments”) to be contributed to the              Company Borrower or its Restricted Subsidiaries or (2) the Person formed or              acquired to merge into or amalgamate or consolidate with the Company Borrower              or any of the Restricted Subsidiaries to the extent such merger, amalgamation or              consolidation is permitted under Section 6.7 in order to consummate such              acquisition or Investment (any such property or assets so contributed, merged or              amalgamated shall be disregarded for purposes of determining any amount              calculated under this Agreement with respect to contributions to the capital of the              Company Borrower or any of its Restricted Subsidiaries; and                      (G)  payments to the Sponsor (a) pursuant to the Management              Agreement or any amendment thereto (so long as such amendment is not less              advantageous to the Lenders in any material respect than the Management              Agreement) or (b) for any other financial advisory, financing, underwriting or              placement services or in respect of other investment banking activities, including              in connection with acquisitions or divestitures, in each case to the extent permitted              under Section 6.5(b)(xii) and (b)(xiii);                (xiv) (A) repurchases of Equity Interests deemed to occur upon exercise of stock  options or warrants if such Equity Interests represent a portion of the exercise price of such options  or warrants and (B) in connection with the withholding of a portion of the Equity Interests granted  or awarded to a director or an employee to pay for the taxes payable by such director or employee  upon such grant or award;                (xv)  Restricted Payments by any Restricted Subsidiary to the Company  Borrower or direct or indirect parent companies of the Company Borrower to the extent the  proceeds of such Restricted Payments are contributed or loaned or advanced to another Restricted  Subsidiary; it being understood that, to the extent any such loan or advance was made by a direct  or indirect parent company of the Company Borrower to any Restricted Subsidiary, the repayment  of such loan or advance shall constitute a Restricted Payment;                                     -123-                                

 

                             (xvi) the payment, purchase, redemption, defeasance or other acquisition or  retirement for value of Subordinated Indebtedness, Disqualified Stock or Preferred Stock of the  Company Borrower and its Restricted Subsidiaries in connection with a change of control or an  Asset Sale that is permitted under Section 6.4 and the other terms of this Agreement; provided that,   prior to such payment, purchase, redemption, defeasance or other acquisition or retirement for   value, the Company Borrower (or a third party to the extent permitted by this Agreement) has   applied such amounts in accordance with Section 2.6 as a result of such change of control or Asset   Sale, as the case may be;                (xvii) any joint venture that is not a Restricted Subsidiary may make Restricted  Payments required or permitted to be made pursuant to the terms of the joint venture arrangements  to holders of its Equity Interests;               (xviii) the Amendment No. 1 Distribution and any Additional Amendment No. 1  Distributions;               (xix) the payment of cash in lieu of the issuance of fractional shares of Equity  Interests upon exercise or conversion of securities exercisable or convertible into Equity Interests  of the Company Borrower;               (xx)  payments or distributions, in the nature of satisfaction of dissenters’ rights,  pursuant to or in connection with a consolidation, merger or transfer of assets that complies with  the provisions of this Agreement applicable to mergers, consolidations and transfers of all or  substantially all the property and assets of the Company Borrower;                (xxi) Restricted Payments; provided, that the Total Net Leverage Ratio, on a Pro   Forma Basis as of the most recently completed period of four consecutive fiscal quarters for which   the financial statements and certificates required by Section 5.1(a) or (b), as the case may be, have   been or were required to have been delivered, does not exceed 3.50 to 1.00;                (xxii) Restricted Payments that are made with proceeds of Specified  Dispositions;                (xxiii) Restricted Payments made to fund any distributions in respect of any  employee stock ownership plan;               (xxiv) the Amendment No. 2 Distribution;               (xxv) the declaration and payment of dividends or the payment of other  distributions by the Company Borrower or a Restricted Subsidiary to, or the making of loans or  advances to, any of their respective direct or indirect parent companies to allow payments by the  Company Borrower or any direct or indirect parent company of the Company Borrower in respect  of withholding or similar taxes payable in connection with any grant or vesting of an Equity Interest  to or by, or repurchase, or dividend or other distribution to facilitate a repurchase, of an Equity  Interest from, any future, present or former employee, director, officer, manager or consultant (or  their respective Control Investment Affiliates, Immediate Family Members or permitted  transferees), or in connection with any repurchases of Equity Interests in consideration of such  payments, including deemed repurchases in connection with the exercise of stock options, warrants  or other incentive interests and the vesting of restricted stock and restricted stock units or any                                   -124-                                

 

           deemed repurchases of Equity Interests representing a portion of the exercise price of such options         or warrants or other incentive interest;                      (xxvi) distributions or payments of Receivables Fees;                       (xxvii) payments to the Company Borrower or direct and indirect parent         companies of the Company Borrower to permit such Person to honor any conversion request by a         holder of convertible Indebtedness and make cash payments in lieu of fractional shares in         connection with any such conversion and may make payments on convertible Indebtedness in         accordance with its terms; and                        (xxviii) (a) the conversion of any Subordinated Indebtedness to Equity Interests         (other than Disqualified Stock) of the Company Borrower or any of its direct or indirect parent         companies, and (b) any payment that is intended to prevent any Subordinated Indebtedness from         being treated as an “applicable high yield discount obligation” within the meaning of Section         163(i)(1) of the Code ;          provided, however, that at the time of, and after giving effect to, any Restricted Payment permitted   under clauses (b)(x) and (b)(xxi) of this Section 6.2, no Default or Event of Default shall have occurred and   be continuing or would occur as a consequence thereof.                (c)   For purposes of this Section 6.2, if any Investment or Restricted Payment would  be permitted pursuant to one or more provisions described above and/or one or more of the exceptions  contained in the definition of “Permitted Investments,” the Company Borrower may divide and classify  such Investment or Restricted Payment in any manner that complies with this Section 6.2 and may later  divide and reclassify any such Investment or Restricted Payment so long as the Investment or Restricted  Payment (as so divided and/or reclassified) would be permitted to be made in reliance on the applicable  exception as of the date of such reclassification.                  6.3 Dividend and Other Payment Restrictions Affecting Subsidiaries.  The Company     Borrower shall not, and shall not permit any of its Restricted Subsidiaries that is not a Guarantor to,     directly or indirectly create or otherwise cause to become effective any consensual encumbrance or     consensual restriction on the ability of any Restricted Subsidiary that is not a Guarantor to:                (a)   (i) pay dividends or make any other distributions to the Company Borrower or any  of its Restricted Subsidiaries (1) on its Capital Stock or (2) with respect to any other interest or participation  in, or measured by, its profits; or (ii) pay any Indebtedness owed to the Company Borrower or any of its  Restricted Subsidiaries;                (b)   make loans or advances to the Company Borrower or any of its Restricted  Subsidiaries; or               (c)   sell, lease or transfer any of its properties or assets to the Company Borrower or  any of its Restricted Subsidiaries;   except in each case for such encumbrances or restrictions existing under or by reason of:              (A)   contractual encumbrances or restrictions in effect or entered into or existing on the        Amendment No. 4 Effective Date, including pursuant to this Agreement, the ABL Documents,        Hedging Obligations and the other documents relating to the Transactions;                                         -125-        

 

                       (B)   this Agreement, the Loan Documents, the ABL Documents and, in each case, any  guarantees thereof;          (C)   applicable law or any applicable rule, regulation or order;          (D)  any agreement or other instrument of a Person or relating to Indebtedness or  Capital Stock acquired by or merged or consolidated with or into the Company Borrower or any  Restricted Subsidiary, or any transaction entered into in connection with any such acquisition,  merger, consolidation or amalgamation, which was in existence at the time of such acquisition or  at the time it merges, amalgamates or consolidates with or into the Company Borrower or any  Restricted Subsidiary or assumed in connection with the acquisition of assets from such Person  (but not created in contemplation thereof), which encumbrance or restriction or condition set forth  in such agreement is not applicable to any Person, or the properties or assets of any Person and its  Subsidiaries, other than the Person and its Subsidiaries (and the Person into which such Person is  merged or consolidated), or the property or assets of the Person and its Subsidiaries, so acquired or  the property or assets so assumed;          (E)   contracts or agreements for the sale or disposition of assets, including any  restrictions with respect to a Restricted Subsidiary imposed pursuant to an agreement entered into  for the sale or disposition of any Capital Stock or assets of such Restricted Subsidiary;          (F)  Indebtedness secured by a Lien that is otherwise permitted to be Incurred pursuant  to Sections 6.1 and 6.6 that limit the right of the debtor to dispose of the assets securing such   Indebtedness;          (G)  restrictions on cash (or Cash Equivalents) or other deposits or restrictions on net  worth imposed by customers under contracts entered into in the ordinary course of business or  arising in connection with any Permitted Liens;         (H)   customary and usual provisions in joint venture, operating or other similar  agreements, asset sale agreements and stock sale agreements in connection with the entering into  of such transaction;         (I)   purchase money obligations for property acquired and Capitalized Lease  Obligations in the ordinary course of business that impose restrictions of the nature described in  clause (c) of this Section 6.3 on the property so acquired;         (J)   customary provisions contained in leases, subleases, licenses, sublicenses,  contracts, asset sale agreements and other similar agreements (i) entered into in the ordinary course  of business (including licenses of intellectual property) that impose restrictions of the type  described in clause (c) of this Section 6.3 on the property subject to such lease, license, contract or  agreement or (ii) are otherwise permitted under this Agreement so long as such restrictions relate  only to the assets subject thereto;         (K)   the Senior Notes Indenture, the Senior Notes and the guarantees thereof;          (L)   other Indebtedness, Disqualified Stock or Preferred Stock of any Restricted  Subsidiary of the Company Borrower that is Incurred subsequent to the Closing Date pursuant to  Section 6.1; provided that either (A) such encumbrances and restrictions contained in any   agreement or instrument will not materially affect the Company Borrower’s ability to make                                   -126-                                

 

                 anticipated principal or interest payment on the Loans (as determined by the Company Borrower   in good faith) or (B) such encumbrances and restrictions are not materially less favorable, taken as   a whole, than those, in the case of encumbrances, outstanding on the Closing Date, and in the case   of restrictions, contained in this Agreement;          (M)   any Restricted Investment not prohibited by Section 6.2 and any Permitted   Investment;          (N)  arising or agreed to in the ordinary course of business, not relating to any  Indebtedness, and that do not, individually or in the aggregate, detract from the value of property  or assets of the Company Borrower or any Restricted Subsidiary thereof in any manner material to  the Company Borrower or any Restricted Subsidiary thereof;          (O)  existing under, by reason of or with respect to Refinancing Indebtedness; provided   that the encumbrances and restrictions contained in the agreements governing that Refinancing   Indebtedness are not materially more restrictive, taken as a whole, than those contained in the   agreements governing the Indebtedness being Refinanced;          (P)  restrictions or conditions contained in any trading, netting, operating, construction,  service, supply, purchase, sale or other agreement to which the Company Borrower or any of its  Restricted Subsidiaries is a party entered into in the ordinary course of business; provided that such   agreement prohibits the encumbrance of solely the property or assets of the Company Borrower or   such Restricted Subsidiary that are the subject of such agreement, the payment rights arising   thereunder or the proceeds thereof and does not extend to any other asset or property of the   Company Borrower or such Restricted Subsidiary or the assets or property of any other Restricted   Subsidiary;          (Q)  customary provisions restricting the assignment of any agreement;         (R)   agreements entered into in connection with any Sale Leaseback Transaction  permitted hereunder;         (S)   any encumbrance or restriction with respect to a Restricted Subsidiary that was  previously an Unrestricted Subsidiary which encumbrance or restriction exists pursuant to or by  reason of an agreement that such Subsidiary is a party to or entered into before the date on which  such Subsidiary became a Restricted Subsidiary; provided that such agreement was not entered into  in anticipation of an Unrestricted Subsidiary becoming a Restricted Subsidiary and any such  encumbrance or restriction does not extend to any assets or property of Holdings or any other  Restricted Subsidiary other than the assets and property of such Restricted Subsidiary;          (T)   restrictions created in connection with any Receivables Facility that, in the good  faith determination of the Company Borrower, are necessary or advisable to effect such  Receivables Facility;         (U)   customary provisions restricting subletting or assignment of any lease governing a  leasehold interest of direct or indirect parent companies of the Company Borrower, the Company  Borrower or any Restricted Subsidiary;         (V)   customary net worth provisions contained in real property leases entered into by  Subsidiaries, so long as the Company Borrower has determined in good faith that such net worth                                   -127-                                

 

           provisions could not reasonably be expected to impair the ability of the Company Borrower and its         Subsidiaries to meet their ongoing obligations; and                (W)   any encumbrances or restrictions of the type referred to in clauses (a), (b) and (c)         of this Section 6.3 imposed by any amendments, modifications, restatements, renewals, increases,         supplements, refundings, replacements or refinancings of the contracts, instruments or obligations         referred to in clauses (A) through (V) above; provided that such amendments, modifications,         restatements, renewals, increases, supplements, refundings, replacements or refinancings are, in the         good faith judgment of the Company Borrower, not materially more restrictive as a whole with         respect to such dividend and other payment restrictions than those contained in the dividend or         other payment restrictions prior to such amendment, modification, restatement, renewal, increase,         supplement, refunding, replacement or refinancing.    For purposes of determining compliance with this Section 6.3, (i) the priority of any Preferred Stock in   receiving dividends or liquidating distributions prior to dividends or liquidating distributions being paid on   common stock shall not be deemed a restriction on the ability to make distributions on Capital Stock and   (ii) the subordination of loans or advances made to the Company Borrower or a Restricted Subsidiary of   the Company Borrower to other Indebtedness Incurred by the Company Borrower or any such Restricted   Subsidiary shall not be deemed a restriction on the ability to make loans or advances.                  6.4 Asset Sales.  The Company Borrower shall not, and shall not permit any of its     Restricted Subsidiaries to, cause or make an Asset Sale, unless:                (a)   the Company Borrower or any of its Restricted Subsidiaries, as the case may be,   receives consideration at the time of such Asset Sale at least equal to the Fair Market Value (as determined   in good faith by the Company Borrower at the time of contractually agreeing to such Asset Sale) of the   Equity Interests issued or assets sold or otherwise disposed of;                 (b)   immediately before and after giving effect to such Asset Sale, no Event of Default   has occurred and is continuing or would result therefrom; and                (c)   except in the case of a Permitted Asset Swap, at least 75.0% of the consideration  therefore received by the Company Borrower or such Restricted Subsidiary, as the case may be, is in the  form of cash or Cash Equivalents; provided that the amount of:                      (i)   any liabilities (as shown on the Company Borrower’s or such Restricted         Subsidiary’s most recent balance sheet or in the footnotes thereto for which internal financial         statements are available immediately preceding such date, or, if incurred, increased or decreased         subsequent to the date of such balance sheet, such liabilities that would have been reflected in the         Company Borrower’s or such Restricted Subsidiary’s balance sheet or in the footnotes thereto if         such incurrence or accrual had taken place on or prior to the date of such balance sheet, as         determined in good faith by the Company Borrower) of the Company Borrower or any Restricted         Subsidiary of the Company Borrower (other than liabilities that are by their terms subordinated to         the Obligations) that are assumed by the transferee (or a third party on behalf of the transferee) of         any such assets or Equity Interests pursuant to an agreement that releases or indemnifies the         Company Borrower or such Restricted Subsidiary (or a third party on behalf of the transferee), as         the case may be, from further liability or are otherwise cancelled or terminated in connection with         the transaction with such transferee (other than intercompany debt owed to the Company Borrower         or its Restricted Subsidiaries);                                         -128-        

 

                       (ii) any notes or other obligations or other securities or assets received by the        Company Borrower or such Restricted Subsidiary from such transferee that are converted by the        Company Borrower or such Restricted Subsidiary into cash or Cash Equivalents within 180 days        of the receipt thereof (to the extent of the cash or Cash Equivalents received);                      (iii) any Designated Non-cash Consideration received by the Company         Borrower or any of its Restricted Subsidiaries in such Asset Sale having an aggregate Fair Market         Value (being measured at the time received and without giving effect to subsequent changes in         value), taken together with all other Designated Non-cash Consideration received pursuant to this         clause (iii) that is at that time outstanding, not to exceed the greater of $125,000,000 and 4.25% of         Total Assets (at the time of the receipt of such Designated Non-Cash Consideration);                      (iv)  Indebtedness of any Restricted Subsidiary of the Company Borrower that         is no longer a Restricted Subsidiary as a result of such Asset Sale, to the extent that the Company         Borrower and each other Restricted Subsidiary are released from any Guarantee of such         Indebtedness in connection with such Asset Sale; and                      (v)   consideration consisting of Indebtedness of the Company Borrower or any         Guarantor received from Persons who are not the Company Borrower or a Restricted Subsidiary,          shall each be deemed to be Cash Equivalents for the purposes of this Section 6.4;    After the Company Borrower’s or any Restricted Subsidiary’s receipt of the Net Cash Proceeds of any   Asset Sale pursuant to clause (c) above, the Company Borrower or such Restricted Subsidiary shall apply   the Net Cash Proceeds from such Asset Sale if and to the extent required by Section 2.6(c).                  6.5 Transactions with Affiliates.                (a)   The Company Borrower shall not, and shall not permit any Restricted Subsidiaries  of the Company Borrower to, directly or indirectly, make any payment to, or sell, lease, transfer or otherwise  dispose of any of its properties or assets to, or purchase any property or assets from, or enter into or make  or amend any transaction or series of transactions, contract, agreement, understanding, loan, advance or  guarantee with, or for the benefit of, any Affiliate of the Company Borrower (each of the foregoing, an  “Affiliate Transaction”) involving aggregate consideration in excess of $25,000,000, unless such Affiliate   Transaction is on terms that are not materially less favorable to the Company Borrower or the relevant   Restricted Subsidiary than those that could have been obtained in a comparable transaction by the Company   Borrower or such Restricted Subsidiary with an unrelated Person.                (b)   The foregoing provisions will not apply to the following:                      (i)   (A) transactions between or among (x) Holdings and/or any of its        Restricted Subsidiaries (or an entity that becomes a Restricted Subsidiary as a result of such        transaction) and (y) Holdings and/or any of its Restricted Subsidiaries (or an entity that becomes a        Restricted Subsidiary as a result of such transaction), and (B) any merger or consolidation of the        Company Borrower or any direct parent company of the Company Borrower, provided that such         parent company shall have no material liabilities and no material assets other than cash, Cash         Equivalents and the Capital Stock of the Company Borrower and such merger or consolidation is         otherwise in compliance with the terms of this Agreement and effected for a bona fide business         purpose;                                         -129-        

 

                             (ii) (A) Restricted Payments permitted by Section 6.2 (including any   payments that are exceptions to the definition of Restricted Payments set forth in Section 6.2(a)(i)   through (iv)) and (B) Permitted Investments;                (iii) transactions pursuant to compensatory, benefit and incentive plans and  agreements with officers, directors, managers or employees of the Company Borrower or any of its  Restricted Subsidiaries approved by a majority of the Board of Directors of the Company Borrower  in good faith;               (iv)   the payment of reasonable and customary fees and reimbursements,   reasonable out-of-pocket costs and compensation paid to, and indemnity and employment and   severance and similar arrangements provided on behalf of, former members of the board of   directors, current or future officers, directors, managers, distributors, employees or consultants of   the Company Borrower or any Restricted Subsidiary or any direct or indirect parent of the Company   Borrower;                (v)   transactions in which the Company Borrower or any of the Restricted   Subsidiaries, as the case may be, delivers to the Administrative Agent a letter from an Independent   Financial Advisor stating that such transaction is fair to the Company Borrower or such Restricted   Subsidiary from a financial point of view or meets the requirements of clause (a)(i) of this Section   6.5;                (vi)  payments, loans or advances to employees or consultants or guarantees in   respect thereof (or cancellation of loans, advances or guarantees) for bona fide business purposes   in the ordinary course of business;                (vii) any agreement, instrument or arrangement as in effect as of the Closing  Date or any transaction contemplated thereby, or any amendment thereto or replacement thereof  (so long as any such amendment or replacement is not disadvantageous to Lenders in any material  respect when taken as a whole as compared to the applicable agreement as in effect on the Closing  Date as reasonably determined by the Company Borrower in good faith);                (viii) the existence of, or the performance by the Company Borrower or any of  its Restricted Subsidiaries of its obligations under the terms of any stockholders or similar  agreement (including any registration rights agreement or purchase agreement related thereto) to  which it is a party as of the Closing Date, and any amendment thereto or similar transactions,  agreements or arrangements which it may enter into thereafter; provided, however, that the   existence of, or the performance by the Company Borrower or any of its Restricted Subsidiaries of   its obligations under, any future amendment to any such existing transaction, agreement or  arrangement or under any similar transaction, agreement or arrangement entered into after the  Closing Date shall only be permitted by this clause (viii) to the extent that the terms of any such   existing transaction, agreement or arrangement together with all amendments thereto, taken as a   whole, or new transaction, agreement or arrangement are not otherwise more disadvantageous to   the Lenders in any material respect when taken as a whole;                (ix)  (A) transactions with customers, clients, suppliers, contractors, joint  venture partners or purchasers or sellers of goods or services, in each case in the ordinary course  of business and otherwise in compliance with the terms of this Agreement, which are fair to the  Company Borrower and the Restricted Subsidiaries of the Company Borrower in the reasonable  determination of the Company Borrower, and are on terms at least as favorable as might reasonably                                  -130-                                

 

                 have been obtained at such time from an unaffiliated party or (B) transactions with joint ventures  or Unrestricted Subsidiaries entered into in the ordinary course of business;               (x)   (v) the Transactions, (w) the Amendment No. 1 Transactions, (x) the  Amendment No. 2 Transactions, (y) the Amendment No. 3 Transactions and (z) the Amendment  No. 4 Transactions and, in each case, transactions reasonably related thereto;               (xi)  the sale or issuance of Equity Interests (other than Disqualified Stock) of  the Company Borrower;               (xii) [reserved];               (xiii) payments by the Company Borrower or any of its Restricted Subsidiaries  to the Investors made for any financial advisory, consulting, financing, underwriting or placement  services or in respect of other investment banking activities, including in connection with  acquisitions, divestitures or financing, which payments are (x) made pursuant to agreements with  the Sponsor as in effect on the Closing Date or (y) approved by a majority of the Board of Directors  of the Company Borrower or any direct or indirect parent of the Company Borrower in good faith   or a majority of the disinterested members of the board of directors of the Company Borrower;                (xiv) any contribution to the capital of the Company Borrower or any Restricted  Subsidiary;                (xv)  transactions permitted by, and complying with, the provisions of Section   6.7;                (xvi) transactions between the Company Borrower or any of its Restricted  Subsidiaries and any Person, a director of which is also a director of the Company Borrower or any  direct or indirect parent of the Company Borrower; provided, however, that such director abstains   from voting as a director of the Company Borrower or such direct or indirect parent of the Company   Borrower, as the case may be, on any matter involving such other Person;                (xvii) pledges of Equity Interests of Unrestricted Subsidiaries;               (xviii) any employment agreements, option plans and other similar arrangements  entered into by the Company Borrower or any of its Restricted Subsidiaries with employees or  consultants in the ordinary course of business;               (xix) the issuances of securities or other payments, awards or grants in cash,  securities or otherwise pursuant to, or the funding of, employment arrangements, stock option and  stock ownership plans or similar employee benefit plans approved by the Board of Directors of the  Company Borrower or any direct or indirect parent of the Company Borrower or of a Restricted  Subsidiary of the Company Borrower, as appropriate, in good faith;               (xx)  [reserved];               (xxi) any transaction involving aggregate consideration of less than  $75,000,000 so long as any such transaction is approved by the Board of Directors of Holdings or  its Restricted Subsidiaries, as applicable;                                   -131-                                

 

                             (xxii) any employment, consulting, service or termination agreement, or  customary indemnification arrangements, entered into by the Company Borrower or any of its  Restricted Subsidiaries with current, former or future officers and employees of the Company  Borrower or any of its Restricted Subsidiaries and the payment of compensation to officers and  employees of the Company Borrower or any of its Restricted Subsidiaries (including amounts paid  pursuant to employee benefit plans, employee stock option or similar plans), in each case in the  ordinary course of business;               (xxiii) transactions with a Person that is an Affiliate of the Company Borrower  solely because the Company Borrower, directly or indirectly, owns Equity Interests in, or controls,  such Person entered into in the ordinary course of business;                (xxiv) transactions listed on Schedule 6.5;                (xxv) transactions with Affiliates solely in their capacity as holders of  Indebtedness or Equity Interests of the Company Borrower or any of its Subsidiaries, so long as  such transaction is with all holders of such class (and there are such non-Affiliate holders) and such  Affiliates are treated no more favorably than all other holders of such class generally;                (xxvi) any agreement that provides customary registration rights to the equity  holders of the Company Borrower or any direct or indirect parent of the Company Borrower and  the performance of such agreements;               (xxvii) payments to and from and transactions with any joint venture in the  ordinary course of business (including, without limitation, any cash management activities related  thereto);                (xxviii) transactions between any Group Member and any Person that is an  Affiliate thereof solely due to the fact that a director of such Person is also a director of Holdings  or any direct or indirect parent of Holdings; provided, however, that such director abstains from   voting as a director of Holdings or such direct or indirect parent of Holdings, as the case may be,   on any matter involving such other Person;                (xxix) sales of accounts receivable, or participations therein, Receivables Assets  or related assets in connection with any Receivables Facility;                (xxx) investments by any of the Investors in securities of the Company Borrower  or any of its Restricted Subsidiaries (and payment of reasonable out-of-pocket expenses incurred  by such Investors in connection therewith) so long as (i) the investment is being offered generally  to other investors on the same or more favorable terms and (ii) the investment constitutes less than  5.00% of the proposed or outstanding issue amount of such class of securities;               (xxxi) employment and severance arrangements between the Company Borrower  and its Restricted Subsidiaries and their respective officers and employees in the ordinary course  of business or otherwise in connection with the Transactions (including loans and advances  pursuant to clause (10) of the definition of Permitted Investments);                 (xxxii) transactions with affiliated captive insurers and insurance agencies in the  ordinary course of business consistent with past practice;                                   -132-                                

 

                       (xxxiii) any lease or sublease entered into between the Company Borrower or any        Restricted Subsidiary, as lessee or sublessee and any Affiliate of the Company Borrower, as lessor        or sublessor, which is approved by a majority of the disinterested members of the board of directors        of the Company Borrower in good faith;                       (xxxiv) intellectual property licenses or sublicenses (including the provision of        software under an open source license) in the ordinary course of business; or                      (xxxv) any transition services arrangement, supply arrangement or similar        arrangement entered into in connection with or in contemplation of the disposition of assets or        Equity Interests in any Restricted Subsidiary permitted under Section 6.4 or entered into with any        Business Successor, in each case, that the Company Borrower determines in good faith is either        fair to the Company Borrower or otherwise on customary terms for such type of arrangements in        connection with similar transactions.                  6.6 Liens.  The Company Borrower shall not, and shall not permit any Restricted     Subsidiary to, create or Incur any Lien (other than Permitted Liens) that secures obligations under any     Indebtedness on any asset or property of the Company Borrower or any Guarantor.                  6.7 Merger, Consolidation or Sale of All or Substantially All Assets.  The Company     Borrower shall not consolidate or merge with or into or wind up into (whether or not the Company     Borrower is the surviving corporation), or sell, assign, transfer, lease, convey or otherwise dispose of all     or substantially all of its properties or assets in one or more related transactions, to any Person unless:                (a)   the Company Borrower is the surviving corporation or the Person formed by or  surviving any such consolidation or merger (if other than the Company Borrower) or to which such sale,  assignment, transfer, lease, conveyance or other disposition will have been made is a corporation,  partnership or limited liability company organized or existing under the laws of the United States, any state  thereof, the District of Columbia, or any territory thereof (the Company Borrower or such Person, as the  case may be, being herein called the “Successor Company”) and, if such entity is not a corporation, a co-  obligor of the Obligations is a corporation organized or existing under such laws;                (b)   the Successor Company (if other than the Company Borrower) expressly assumes  all the obligations of the Company Borrower under this Agreement and the other Loan Documents to which  it is a party;               (c)   immediately after giving effect to such transaction (and treating any Indebtedness  that becomes an obligation of the Successor Company or any of its Restricted Subsidiaries as a result of  such transaction as having been Incurred by the Successor Company or such Restricted Subsidiary at the  time of such transaction) no Default or Event of Default shall have occurred and be continuing;               (d)   immediately after giving pro forma effect to such transaction, as if such transaction  had occurred at the beginning of the applicable four-quarter period, either:                      (i)   the Successor Company would be permitted to Incur at least $1.00 of        additional Indebtedness pursuant to the Fixed Charge Coverage Ratio test set forth in Section         6.1(a); or                                          -133-        

 

                       (ii) the Fixed Charge Coverage Ratio for the Successor Company and its        Restricted Subsidiaries would be equal to or greater than the Fixed Charge Coverage Ratio for the        Company Borrower and its Restricted Subsidiaries immediately prior to such transaction;               (e)   if the Successor Company is an entity other than the Company Borrower, each  Guarantor (unless it is the other party to the transactions described above) shall have by a Guarantor Joinder  Agreement confirmed that its Guarantee shall apply to the Successor Company’s obligations under this  Agreement and the other Loan Documents; and               (f)   the Company Borrower shall have delivered to the Administrative Agent an  Officer’s Certificate and an opinion of counsel (which may be subject to customary assumptions and  exclusions) stating that such consolidation, merger or transfer complies with this Agreement and the other  Loan Documents.         The Successor Company (if other than the Company Borrower) will succeed to, and be substituted  for, the Company Borrower under this Agreement and in such event the Company Borrower will  automatically be released and discharged from its obligations under this Agreement and the other Loan  Documents.  Notwithstanding clauses (c) and (d) of this Section 6.7, (A) the Company Borrower may  consolidate with, merge into or sell, assign, transfer, lease, convey or otherwise dispose (including in  connection with a liquidation) of all or part of its properties and assets to any Restricted Subsidiary and (B)  the Company Borrower may merge or consolidate with an Affiliate incorporated or organized solely for the  purpose of reincorporating or reorganizing the Company Borrower in another state of the United States, the  District of Columbia or any territory of the United States.          No Guarantor will, and the Company Borrower will not permit any Guarantor to, consolidate or  merge with or into or wind up into (whether or not such Guarantor is the surviving corporation), or sell,  assign, transfer, lease, convey or otherwise dispose (including in connection with a liquidation) of all or  substantially all of its properties or assets in one or more related transactions to, any Person (herein called  the “Successor Guarantor”) unless (i) the surviving company (or company to which such assets are   transferred) in such liquidation, merger, sale, transfer or other disposition is the Company Borrower or a   Guarantor; or (ii):                (A)  such sale or disposition or consolidation or merger is not in violation of Section         6.4;                (B)   immediately after giving effect to such transaction (and treating any Indebtedness        that becomes an obligation of the Successor Guarantor or any of its Subsidiaries as a result of such        transaction as having been Incurred by the Successor Guarantor or such Subsidiary at the time of        such transaction) no Default or Event of Default shall have occurred and be continuing;                (C)   the Successor Guarantor (if other than such Guarantor) shall have delivered or        caused to be delivered to the Administrative Agent an Officer’s Certificate stating and an opinion        of counsel (which may be subject to customary assumptions and exclusions) that such        consolidation, merger or transfer complies with this Agreement; and                (D)  the Successor Guarantor expressly assumes all the obligations of such Guarantor        under this Agreement and the other Loan Documents, pursuant to a Guarantor Joinder Agreement.         The Successor Guarantor will succeed to, and be substituted for, such Guarantor under this  Agreement and such Guarantor’s Guarantee, and such Guarantor will automatically be released and  discharged from its obligations under this Agreement and such Guarantor’s Guarantee.  Notwithstanding                                        -134-        

 

   the foregoing, (x) a Guarantor may merge or consolidate with an Affiliate incorporated or organized solely  for the purpose of reincorporating or reorganizing such Guarantor in another state of the United States, the  District of Columbia or any territory of the United States, so long as the amount of Indebtedness of the  Guarantor is not increased thereby, (y) a Guarantor may merge or consolidate with or transfer all or part of  its properties or assets to another Guarantor or the Company Borrower and (z) a Guarantor may convert  into a corporation, partnership, limited partnership, limited liability corporation or trust organized or  existing under the laws of the jurisdiction of organization of such Guarantor or any of the jurisdictions set  forth in clause (x) of this sentence.                 6.8 [Reserved].                 6.9 Changes in Fiscal Year.  The Company Borrower shall not permit the fiscal year    of the Company Borrower to end on a day other than December 31.                 6.10 Negative Pledge Clauses.  The Company Borrower shall not, and shall not permit    any of its Restricted Subsidiaries to, enter into or suffer to exist or become effective any agreement that    prohibits or limits the ability of any Group Member to create, incur, assume or suffer to exist any Lien    upon any of its property or revenues, whether now owned or hereafter acquired, to secure its obligations    under the Loan Documents to which it is a party other than (a) this Agreement and the other Loan    Documents, (b) any agreements evidencing or governing any purchase money Liens or Capitalized    Lease Obligations otherwise permitted hereby (in which case, any prohibition or limitation shall only be    effective against the assets financed thereby), (c) customary restrictions on the assignment of leases,    licenses and contracts entered into in the ordinary course of business, (d) any agreement in effect at the    time any Person becomes a Restricted Subsidiary; provided that such agreement was not entered into in    contemplation of such Person becoming a Restricted Subsidiary, (e) customary restrictions and    conditions contained in agreements relating to the sale of a Restricted Subsidiary (or the assets of a    Restricted Subsidiary) pending such sale; provided that such restrictions and conditions apply only to    the Restricted Subsidiary that is to be sold (or whose assets are to be sold) and such sale is permitted    hereunder), (f) restrictions and conditions existing on the Amendment No. 4 Effective Date and any    amendments or modifications thereto so long as such amendment or modification does not expand the    scope of any such restriction or condition in any material respect, (g) restrictions under agreements    evidencing or governing or otherwise relating to Indebtedness of Foreign Subsidiaries or Non-Guarantor    Subsidiaries permitted under Section 6.2; provided that such Indebtedness is only with respect to the    assets of Foreign Subsidiaries or Non-Guarantor Subsidiaries, (h) customary provisions in joint venture    agreements, limited liability company operating agreements, partnership agreements, stockholders    agreements and other similar agreements and (i) customary restrictions and conditions contained in    agreements relating to Sale Leaseback Transactions.                 6.11 Lines of Business; Holdings.  The Company Borrower shall not, and shall not    permit any of its Restricted Subsidiaries to, enter into any business, either directly or through any    Restricted Subsidiary, except for those businesses in which the Company Borrower and the Restricted    Subsidiaries are engaged on the Closing Date or that are reasonably related, complementary or ancillary    thereto and reasonable extensions thereof.  Holdings shall not own any material assets or engage in any    business or activity other than (i) the ownership of all outstanding Capital Stock in the Company    Borrower, (ii) maintaining its corporate existence, (iii) participating in tax, accounting and other    administrative activities as the parent of the consolidated group of companies including the other Group    Members or other Subsidiaries of Holdings, (iv) the performance of obligations under the Loan    Documents to which it is a party, (v) making and receiving Restricted Payments and Investments to the    extent permitted by Section 6.2, (vi) Incurring and guaranteeing Indebtedness, (vii) establishing,    creating, developing, registering, enforcing, prosecuting and maintaining, as applicable, bank accounts    and intellectual property rights, (viii) entering into employment agreements and other arrangements with                                       -135-      

 

       officers and directors, (ix) performing its obligations with respect to the Transactions, (x) engaging in     any public offering of its common stock or any other issuance or sale of its Equity Interests, (xi)     providing indemnification to officers, managers and directors, (xi) engaging in any activities incidental     to compliance with the provisions of the Securities Act and the Exchange Act and similar laws and     regulations of other jurisdictions and the rules of securities exchanges, in each case, as applicable to     companies with listed equity or debt securities, as well as activities incidental to investor relations,     shareholder meetings and reports to shareholders or debt-holders, (xii) engaging in activities required to     comply with applicable laws, (xiii) the obtainment of, and the payment of any fees and expenses for,     management, consulting, investment banking and advisory services to the extent otherwise permitted by     this Agreement, (xiv) in connection with, and following the completion of, a public offering, activities     necessary or reasonably advisable for or incidental to the initial registration and listing of Holdings’ (or     its direct or indirect parent’s) common stock and the continued existence of Holdings (or its direct or     indirect parent) as a public company, (xv) performing its obligations under any management agreement     with any Permitted Investor, (xvi) guaranteeing ordinary course obligations incurred by any of its     Restricted Subsidiaries, (xviii) obligations in respect of the convertible preferred securities of Holdings     issued to the Sponsor and certain other investors, and (xix) engaging in any activities incidental to the     foregoing.    SECTION 7   GUARANTEE                  7.1 The Guarantee.  (a) [Reserved].                (b)   Each Company Guarantor hereby jointly and severally guarantees, as a primary  obligor and not as a surety, to each Secured Party and their respective successors and assigns, the prompt  payment in full when due (whether at stated maturity, by required prepayment, declaration, demand, by  acceleration or otherwise) of (1) the principal of and interest (including any interest, fees, costs or charges  that would accrue but for the provisions of the Bankruptcy Code after any bankruptcy or insolvency petition  under the Bankruptcy Code or any similar law of any other jurisdiction) on (i) the Loans made by the  Lenders to the Company Borrower, (ii) the Incremental Loans made by the Incremental Lenders to the  Company Borrower, (iii) the Other Loans made by any lender thereof, and (iv) the Notes held by each  Lender of the Company Borrower and (2) all other Obligations from time to time owing to the Secured  Parties by the Company Borrower (such obligations under clauses (1) and (2) being herein collectively  called the “Guarantor Obligations”).  Each Company Guarantor hereby jointly and severally agrees that, if   the Company Borrower shall fail to pay in full when due (whether at stated maturity, by acceleration or   otherwise) any of the Guarantor Obligations, such Company Guarantor will promptly pay the same in cash,   without any demand or notice whatsoever, and that in the case of any extension of time of payment or   renewal of any of the Guarantor Obligations, the same will be promptly paid in full when due (whether at   extended maturity, by acceleration or otherwise) in accordance with the terms of such extension or renewal.                  7.2 Obligations Unconditional.  The obligations of the Guarantors under Section 7.1,     shall constitute a guaranty of payment (and not of collection) and to the fullest extent permitted by     applicable Requirements of Law, are absolute, irrevocable and unconditional, joint and several,     irrespective of the value, genuineness, validity, regularity or enforceability of the Guarantor Obligations     of the Company Borrower under this Agreement, the Notes, if any, or any other agreement or instrument     referred to herein or therein, or any substitution, release or exchange of any other guarantee of or security     for any of the Guarantor Obligations, and irrespective of any other circumstance whatsoever that might     otherwise constitute a legal or equitable discharge or defense of a surety by any Company Guarantor, as     applicable (except for payment in full).  Without limiting the generality of the foregoing, it is agreed that     the occurrence of any one or more of the following shall not alter or impair the liability of any Guarantor                                         -136-        

 

       hereunder, which shall, in each case, remain absolute, irrevocable and unconditional under any and all     circumstances as described above;                (b)   at any time or from time to time, without notice to any Guarantor, the time for any   performance of or compliance with any of the Guarantor Obligations shall be extended, or such   performance or compliance shall be waived;                (c)   any of the acts mentioned in any of the provisions of this Agreement or the Notes,   if any, or any other agreement or instrument referred to herein or therein shall be done or omitted;                (d)   the maturity of any of the Guarantor Obligations shall be accelerated, or any of the   Guarantor Obligations shall be amended in any respect, or any right under the Loan Documents or any other   agreement or instrument referred to herein or therein shall be amended or waived in any respect or any   other guarantee of any of the Guarantor Obligations or any security therefor shall be released or exchanged   in whole or in part or otherwise dealt with;               (e)   any Lien or security interest granted to, or in favor of, any Lender or the  Administrative Agent as security for any of the Guarantor Obligations shall fail to be valid or perfected or  entitled to the expected priority;                (f)   the release of any other Guarantor pursuant to Section 7.9, or otherwise; or                (g)   any other circumstance whatsoever which may or might in any manner or to any  extent vary the risk of any Guarantor as an obligor in respect of the Guarantor Obligations or which  constitutes, or might be construed to constitute, an equitable or legal discharge of the Borrower or any  Guarantor for the Guarantor Obligations, or of such Guarantor under the Guarantee or of any security  interest granted by any Guarantor, whether in a proceeding under any Debtor Relief Law or in any other  instance.                Each of the Guarantors hereby expressly waives diligence, presentment, demand of   payment, marshaling, protest and all notices whatsoever, and any requirement that any Secured Party   exhaust any right, power or remedy or proceed against the Company Borrower, as the case may be, under   this Agreement or the Notes, if any, or any other agreement or instrument referred to herein or therein, or   against any other person under any other guarantee of, or security for, any of the Guarantor Obligations.    Each of the Guarantors waives any and all notice of the creation, renewal, extension, waiver, termination   or accrual of any of the Guarantor Obligations and notice of or proof of reliance by any Secured Party upon   the guarantee made under this Section 7 (this “Guarantee”) or acceptance of the Guarantee, and the   Guarantor Obligations, and any of them, shall conclusively be deemed to have been created, contracted or   incurred in reliance upon the Guarantee, and all dealings between the Company Borrower and the Secured   Parties shall likewise be conclusively presumed to have been had or consummated in reliance upon the   Guarantee.  The Guarantee shall be construed as a continuing, absolute, irrevocable and unconditional   guarantee of payment without regard to any right of offset with respect to the Guarantor Obligations at any   time or from time to time held by the Secured Parties and the obligations and liabilities of the Guarantors   hereunder shall not be conditioned or contingent upon the pursuit by the Secured Parties or any other person   at any time of any right or remedy against the Company Borrower or against any other person which may   be or become liable in respect of all or any part of the Guarantor Obligations or against any collateral   security or guarantee therefor or right of offset with respect thereto.  The Guarantee shall remain in full   force and effect and be binding in accordance with and to the extent of its terms upon the Guarantors and   the successors and assigns thereof, and shall inure to the benefit of the applicable Lenders, and their   respective successors and assigns, notwithstanding that from time to time during the term of this Agreement   there may be no Guarantor Obligations outstanding.                                        -137-        

 

                            7.3 Reinstatement.  The obligations of the Guarantors under this Section 7 shall be  automatically reinstated if and to the extent that for any reason any payment by or on behalf of the  Company Borrower or any other Loan Party in respect of the Guarantor Obligations is rescinded or must  be otherwise restored by any holder of any of the Guarantor Obligations, whether as a result of any  proceedings in bankruptcy or reorganization or otherwise.               7.4 No Subrogation.  Each Guarantor hereby agrees that until the payment and  satisfaction in full in cash of all Guarantor Obligations (other than contingent indemnification  obligations for which no claim has been made) and the expiration and termination of the Commitments  under this Agreement it shall waive any claim and shall not exercise any right or remedy, direct or  indirect, arising by reason of any performance by it of its Guarantee, whether by subrogation, right of  contribution or otherwise, against the Company Borrower, as applicable, or any other Guarantor of any  of the Guarantor Obligations or any security for any of the Guarantor Obligations.               7.5 Remedies.  Each Guarantor jointly and severally agrees that, as between the  Guarantors and the Lenders, the obligations of the Borrower under this Agreement and the Notes, if any,  may be declared to be forthwith due and payable as provided in Section 8 (and shall be deemed to have  become automatically due and payable in the circumstances provided in Section 8) for purposes of  Section 7.1, notwithstanding any stay, injunction or other prohibition preventing such declaration (or  such obligations from becoming automatically due and payable) as against the Borrower or any  Guarantor and that, in the event of such declaration (or such obligations being deemed to have become  automatically due and payable, or the circumstances occurring where Section 8 provides that such  obligations shall become due and payable), such obligations (whether or not due and payable by the  Company Borrower) shall forthwith become due and payable by the Guarantors for purposes of Section  7.1.               7.6 Instrument for the Payment of Money.  Each Guarantor hereby acknowledges that  the Guarantee constitutes an instrument for the payment of money, and consents and agrees that any  Lender or the Administrative Agent, at its sole option, in the event of a dispute by such Guarantor in the  payment of any moneys due hereunder, shall have the right to bring a motion-action under New York  CPLR Section 3213.               7.7 Continuing Guarantee.  The Guarantee made by the Company Guarantors is a  continuing guarantee of payment, and shall apply to all Guarantor Obligations whenever arising.               7.8 General Limitation on Guarantor Obligations.  In any action or proceeding  involving any federal, state, provincial or territorial, corporate, limited partnership or limited liability  company law, or any applicable state, federal or foreign bankruptcy, insolvency, reorganization or other  law affecting the rights of creditors generally, if the obligations of any Guarantor under Section 7.1  would otherwise be held or determined to be void, voidable, invalid or unenforceable, or subordinated  to the claims of any other creditors, on account of the amount of its liability under Section 7.1, then,  notwithstanding any other provision to the contrary, the amount of such liability of such Guarantor shall,  without any further action by such Guarantor, any Loan Party or any other Person, be automatically  limited and reduced to the highest amount (after giving effect to the right of contribution established in  Section 7.10) that is valid and enforceable and not subordinated to the claims of other creditors as  determined in such action or proceeding.  To effectuate the foregoing, the Administrative Agent and the  Guarantors hereby irrevocably agree that the Guarantor Obligations of each Guarantor in respect of the  Guarantee at any time shall be limited to the maximum amount as will result in the Guarantor Obligations  of such Guarantor with respect thereto hereof not constituting a fraudulent transfer or conveyance after  giving full effect to the liability under such Guarantee and its related contribution rights but before taking  into account any liabilities under any other guarantee by such Guarantor.  For purposes of the foregoing,                                     -138-                                

 

     all guarantees of such Guarantor other than its Guarantee will be deemed to be enforceable and payable    after the Guarantee.  To the fullest extent permitted by applicable law, this Section 7.8 shall be for the    benefit solely of creditors and representatives of creditors of each Guarantor and not for the benefit of    such Guarantor or the holders of any Equity Interest in such Guarantor.                 7.9 Release of Guarantors.  A Company Subsidiary Guarantor shall be automatically    released from its obligations hereunder in the event that all the Capital Stock of such Company    Subsidiary Guarantor shall be sold, transferred or otherwise disposed of to a Person other than a Loan    Party in a transaction permitted by this Agreement; provided that the Company Borrower shall have    delivered to the Administrative Agent, at least five days, or such shorter period as the Administrative    Agent may agree, prior to the date of the release, a written notice of such for release identifying the    relevant Company Subsidiary Guarantor and the terms of the sale or other disposition in reasonable    detail, together with a certification by the Company Borrower stating that such transaction is in    compliance with this Agreement and the other Loan Documents.  In connection with any such release    of a Guarantor, the Administrative Agent shall execute and deliver to the Company Borrower, at the    Company Borrower’s expense, all UCC termination statements and other documents that the Company    Borrower shall reasonably request to evidence such release.                 7.10 Right of Contribution.  Each Company Subsidiary Guarantor hereby agrees that to    the extent that a Company Subsidiary Guarantor shall have paid more than its proportionate share of any    payment made hereunder, such Company Subsidiary Guarantor shall be entitled to seek and receive    contribution from and against any other Company Subsidiary Guarantor hereunder which has not paid    its proportionate share of such payment  Each Company Subsidiary Guarantor’s right of contribution    shall be subject to the terms and conditions of Section 7.4.  The provisions of this Section 7.10 shall in    no respect limit the obligations and liabilities of any Company Subsidiary Guarantor to the    Administrative Agent and the other Secured Parties, and each Subsidiary Guarantor shall remain liable    to the Administrative Agent and the other Secured Parties for the full amount guaranteed by such    Company Subsidiary Guarantor hereunder.  Notwithstanding the foregoing, no Excluded ECP Guarantor    shall have any obligations or liabilities to any Guarantor, the Administrative Agent or any other Secured    Party with respect to Excluded Swap Obligations.                 7.11 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 the Guarantee in respect    of Swap Obligations; provided, however, that each Qualified ECP Guarantor shall only be liable under    this Section 7.11 for the maximum amount of such liability that can be hereby incurred without rendering    its obligations under this Section, or otherwise under the Guarantee 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 7.11 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 7.11 constitute, and this    Section 7.11 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.   SECTION 8   EVENTS OF DEFAULT                 8.1 Events of Default.  An Event of Default shall occur if any of the following events    shall occur and be continuing; provided that any requirement for the giving of notice, the lapse of time,    or both, has been satisfied:                                         -139-      

 

                 (a)   the Company Borrower shall fail to make (x) any payment of principal of any Loan  (other than any payment of principal required under Section 2.3(a)(i)), (y) any payment of principal required   under Section 2.3(a)(i) within one Business Day or (z) any payment of interest on any Loan or any other   payment hereunder or under any other Loan Document within three Business Days, in each case after any   such amount becomes due in accordance with the terms hereof; or                (b)   any representation or warranty made or deemed made by any Company Loan Party  herein or in any other Loan Document or that is contained in any certificate, document or financial or other  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 incorrect in any material respect (except where such representations  and warranties are already qualified by materiality, in which case, in any respect) on or as of the date made  or deemed made (or if any representation or warranty is expressly stated to have been made as of a specific  date, incorrect in any material respect as of such specific date), and such incorrect representation or   warranty (if curable) shall remain incorrect for a period of 30 days after notice thereof from the   Administrative Agent to the Borrower; or                (c)   any Company Loan Party shall default in the observance or performance of any  agreement contained in Section 5.4(a)(i) (in respect of the Company Borrower), Section 5.7(a) or Section   6 of this Agreement; or                (d)   any Company 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 8.1), and such default shall continue unremedied for a period of   30 days after notice to the Company Borrower from the Administrative Agent or the Required Lenders; or                (e)   any Company Group Member shall (i) default in making any payment of any  principal of any Indebtedness (including any Guarantee Obligation in respect of Indebtedness, but  excluding the Loans) 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 (x) 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 (in the   case of any such Indebtedness constituting a Guarantee Obligation) to become payable or (y) to cause, with   the giving of notice if required, any Company Group Member to purchase or redeem or make an offer to   purchase or redeem such Indebtedness prior to its stated maturity; provided that a default, event or condition   described in clause (i), (ii) or (iii) of this Section 8.1(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 Section 8.1(e) shall have occurred and be continuing with respect to Indebtedness the   outstanding principal amount of which exceeds in the aggregate $75,000,000; provided, further, that clause   (iii) of this Section 8.1(e) shall not apply to secured Indebtedness that becomes due as a result of the   voluntary Disposition of the property or assets securing such Indebtedness, if such Disposition is permitted   hereunder and such Indebtedness that becomes due is paid upon such Disposition; or                (f)   (i)  Holdings, the Company Borrower or any Significant Subsidiary 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                                        -140-        

 

     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 Holdings, the Company Borrower   or any Significant Subsidiary shall make a general assignment for the benefit of its creditors; or (ii) there   shall be commenced against Holdings, the Company Borrower or any Significant Subsidiary any case,   proceeding or other action of a nature referred to in clause (i) above that (A) results in the entry of an order   for relief or any such adjudication or appointment or (B) remains undismissed, undischarged or unbonded   for a period of 60 days; or (iii) there shall be commenced against Holdings, the Company Borrower or any   Significant Subsidiary any case, proceeding or other action seeking issuance of a warrant of attachment,   execution, distraint or similar process against all or any substantial part of its assets that results in the entry   of an order for any such relief that shall not have been vacated, discharged, or stayed or bonded pending   appeal within 60 days from the entry thereof; or (iv) Holdings, the Company Borrower or any Significant   Subsidiary shall take any 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 (v) Holdings, the Company Borrower or any   Significant Subsidiary 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 “prohibited transaction” (as defined in Section   406 of ERISA or Section 4975 of the Code) involving any Plan, (ii) any Plan shall fail to meet the minimum   funding standards of Section 412 or 430 of the Code or Section 302 or 303 of ERISA or any Lien in favor   of the PBGC or a Plan shall arise on the assets of any Company Group Member or any Commonly   Controlled Entity, (iii) a Reportable Event shall occur with respect to, or proceedings shall commence to   have a trustee appointed, 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 reasonably  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) any Company Group Member or any Commonly  Controlled Entity shall, or is reasonably likely to, incur any liability in connection with a complete or partial  withdrawal from, or the Insolvency or Reorganization of, a Multiemployer Plan or (vi) any other event or  condition shall occur or exist with respect to a Plan that could give rise to liability under Title IV of ERISA;  and in each case in clauses (i) through (vi) 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               (h)   one or more judgments or decrees shall be entered against any Company Group  Member involving in the aggregate a liability (not (x) paid or covered by insurance as to which the relevant  insurance company has been notified of the claim and has not denied coverage or (y) covered by valid third  party indemnification obligation from a third party which is Solvent) of $75,000,000 or more, 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 (with respect to a material portion of the Collateral)  shall cease, for any reason, to be in full force and effect, other than pursuant to the terms hereof or thereof,  or any Company Loan Party or any Affiliate of any Company Loan Party shall so assert, or any Lien created  by any of the Security Documents in any material portion of the Collateral shall cease to be enforceable  and of the same effect and priority purported to be created thereby, except to the extent that (x) any such  loss of perfection or priority results from the failure of the Administrative Agent to maintain possession of  certificates actually delivered to it representing securities pledged under the Security Agreement or from  the failure of the Administrative Agent to file UCC continuation statements (or similar statements or filings  in other jurisdictions) or take any other action within its control 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                                         -141-        

 

     has been notified and has not denied coverage and (y) the Company Loan Parties take such action as the   Administrative Agent may reasonably request to remedy such loss of perfection or priority; or                (j)   the Guarantee of Holdings or any Guarantor that is a Significant Subsidiary shall  cease, for any reason, to be in full force and effect, other than as provided for in Sections 7.9 or 9.10, or   any Company Loan Party or any Affiliate of any Company Loan Party shall so assert; or                (k)   a Change of Control shall occur.                  8.2 [Reserved].                  8.3 Action in Event of Default.  Upon any Event of Default specified in clause (i) or     (ii) of Section 8.1(f), the Commitments shall immediately terminate automatically and the Loans (with     accrued interest thereon) and all other Obligations owing under this Agreement and the other Loan     Documents shall automatically immediately become due and payable and (b) if any other Event of     Default under Section 8.1 occurs, with the consent of the Required Lenders, the Administrative Agent     may, or upon the request of the Required Lenders, the Administrative Agent shall, by written notice to     the Company Borrower, declare the Loans (with accrued interest thereon) and all other Obligations     owing under this Agreement and the other Loan Documents to be due and payable forthwith, whereupon     the same shall immediately become due and payable.  Except as expressly provided above in this Section     8.3, presentment, demand, protest and all other notices of any kind are hereby expressly waived by the     Borrower.                  8.4 Application of Proceeds.  If an Event of Default shall have occurred and be     continuing, the Administrative Agent may apply, at such time or times as the Administrative Agent may     elect, all or any part of proceeds constituting Collateral in payment of the Obligations (and in the event     the Loans and other Obligations are accelerated pursuant to Section 8.3, the Administrative Agent shall,     from time to time, apply the proceeds constituting Collateral in payment of the Obligations) in the     following order:                (a)   First, to the payment of all costs and expenses of any sale, collection or other   realization on the Collateral, including reimbursement for all costs, expenses, liabilities and advances made   or incurred by the Administrative Agent in connection therewith (including all reasonable costs and   expenses of every kind incurred in connection any action taken pursuant to any Loan Document or   incidental to the care or safekeeping of any of the Collateral or in any way relating to the Collateral or the   rights of the Administrative Agent and the other Secured Parties hereunder, reasonable attorneys’ fees and   disbursements and any other amount required by any provision of law (including Section 9-615(a)(3) of the   UCC)), and all amounts for which Administrative Agent is entitled to indemnification hereunder and under   the other Loan Documents and all advances made by the Administrative Agent hereunder and thereunder   for the account of any Loan Party (excluding principal and interest in respect of any Loans extended to such   Loan Party), and to the payment of all costs and expenses paid or incurred by the Administrative Agent in  connection with the exercise of any right or remedy hereunder or under this Agreement or any other Loan  Document and to the payment or reimbursement of all indemnification obligations, fees, costs and expenses  owing to the Administrative Agent hereunder or under this Agreement or any other Loan Document, all in  accordance with the terms hereof or thereof;                (b)   Second, for application by it towards all other Obligations (including, without   duplication, Guarantor Obligations with respect to Loans), pro rata among the Secured Parties according to   the amounts of the Obligations then held by the Secured Parties (including all Obligations arising under   Specified Swap Agreements);                                          -142-        

 

                 (c)   Third, for application by it towards the ABL Obligations, if any, as and to the   extent required by the Intercreditor Agreement; and                (d)   Fourth, any balance of such proceeds remaining after all of such obligations shall   have been satisfied by payment in full in immediately available funds and the Commitments shall have   been terminated, be paid over to or upon the order of the applicable Loan Party or to whosoever may be   lawfully entitled to receive the same or as a court of competent jurisdiction may direct.    SECTION 9   ADMINISTRATIVE AGENT                  9.1 Appointment and Authority.                (a)   Administrative Agent.  Each of the Lenders hereby irrevocably appoints Bank of   America to act on its behalf as the Administrative Agent hereunder 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.  The provisions of this Section 9 are solely for the benefit of   the Administrative Agent and the Lenders and, except to the extent that any Group Member has any express   rights under this Section 9, no Group Member shall have rights as a third party beneficiary of any of such   provisions.                (b)   Collateral Agent.  The Administrative Agent shall also act as the “collateral agent”  under the Loan Documents, and each of the Lenders (including in its capacities as a potential Qualified  Counterparty and a potential Cash Management Provider) hereby irrevocably appoints and authorizes the  Administrative Agent to act as the agent of such Lender for purposes of acquiring, holding and enforcing  any and all Liens on Collateral granted by any of the Loan Parties to secure any of the Obligations, together  with such powers and discretion as are reasonably incidental thereto.  In this connection, the Administrative  Agent, as “collateral agent” and any co-agents, sub-agents and attorneys-in-fact appointed by the  Administrative Agent pursuant to Section 9.5 for purposes of holding or enforcing any Lien on the   Collateral (or any portion thereof) granted under the Security Documents, or for exercising any rights and   remedies thereunder at the direction of the Administrative Agent, shall be entitled to the benefits of all   provisions of this Section 9 and Section 10, as though such co-agents, sub-agents and attorneys-in-fact were   the “collateral agent” under the Loan Documents as if set forth in full herein with respect thereto.  Without   limiting the generality of the foregoing, the Lenders hereby expressly authorize the Administrative Agent   to 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 acknowledge and agree that any such action by any Agent   shall bind the Lenders.  Each Lender agrees that it shall not take or institute any actions or proceedings,   judicial or otherwise, for any right or remedy with respect to any Collateral against the Borrower or any   other Loan Party or any other obligor under any of the Loan Documents, the Specified Swap Agreements   or any Specified Cash Management Agreement (including, in each case, 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 of the   Borrower or any other Loan Party, without the prior written consent of the Administrative Agent.  In the   event of a foreclosure by the Administrative Agent on any of the Collateral pursuant to a public or private   sale or a sale of any of the Collateral pursuant to Section 363 of the Bankruptcy Code, the Administrative   Agent or any Lender may be the purchaser of any or all of such Collateral at any such sale and the   Administrative Agent, as agent for and representative of the Lenders (but not any Lender or Lenders in its   or their respective individual capacities unless the Required Lenders shall otherwise agree in writing) shall   be entitled, with the consent or at the direction of the Required Lenders, for the purpose of bidding and                                        -143-        

 

     making settlement or payment of the purchase price for all or any portion of the Collateral sold at any such   sale, to use and apply any of the Obligations as a credit on account of the purchase price for any Collateral   payable by the Administrative Agent at such sale.                  9.2 Rights as a Lender.                The Person serving as the Administrative 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 the  Administrative Agent and the term “Lender” or “Lenders” shall, unless otherwise expressly indicated or  unless the context otherwise requires, include the Person serving as the Administrative Agent hereunder in  its individual capacity.  Such Person and its Affiliates may accept deposits from, lend money to, own  securities of, act as the financial advisor or in any other advisory capacity for and generally engage in any  kind of business with Holdings, the Company Borrower or any of their respective Subsidiaries or other  Affiliate thereof as if such Person were not the Administrative Agent hereunder and without any duty to  account therefor to the Lenders.                  9.3 Exculpatory Provisions.                The Administrative Agent shall not have any duties or obligations except those expressly  set forth herein and in the other Loan Documents.  Without limiting the generality of the foregoing, the  Administrative Agent:                (a)   shall not be subject to any fiduciary or other implied duties, regardless of whether  a Default has occurred and is continuing;                (b)   shall not have any duty to take any discretionary action or exercise any  discretionary powers, except discretionary rights and powers expressly contemplated hereby or by the other  Loan Documents that the Administrative Agent is required to exercise as directed in writing by the Required  Lenders (or such other number or percentage of the Lenders as shall be expressly provided for herein or in  the other Loan Documents), provided that the Administrative Agent shall not be required to take any action   that, in its opinion or the opinion of its counsel, may expose the Administrative Agent to liability or that is   contrary to any Loan Document or applicable Law;                (c)   shall not, except as expressly set forth herein and in the other Loan Documents,  have any duty to disclose, and shall not be liable for the failure to disclose, any information relating to the  Borrower or any of its Affiliates that is communicated to or obtained by the Person serving as the  Administrative Agent or any of its Affiliates in any capacity;                (d)   shall not be liable for any action taken or not taken by it (i) with the consent or at  the request of the Required Lenders (or such other number or percentage of the Lenders as shall be  necessary, or as the Administrative Agent shall believe in good faith shall be necessary, under the  circumstances as provided in Section 10.1) or (ii) in the absence of its own gross negligence or willful   misconduct.  The Administrative Agent shall be deemed not to have knowledge of any Default unless and   until notice describing such Default is given to the Administrative Agent by a Borrower or a Lender.                (e)   The Administrative Agent shall not be responsible for or have any duty to ascertain  or inquire into (i) any statement, warranty or representation made in or in connection with this Agreement  or any other Loan Document, (ii) the contents of any certificate, report or other document delivered  hereunder or thereunder or in connection herewith or therewith, (iii) the performance or observance of any  of the covenants, agreements or other terms or conditions set forth herein or therein or the occurrence of                                         -144-        

 

     any Default, (iv) the validity, enforceability, effectiveness or genuineness of this Agreement, any other   Loan Document or any other agreement, instrument or document, or the creation, perfection or priority of   any Lien purported to be created by the Security Documents, (v) the value or the sufficiency of any  Collateral, or (vi) the satisfaction of any condition set forth in Section 4 or elsewhere herein, other than to   confirm receipt of items expressly required to be delivered to the Administrative Agent.                (f)   The Administrative Agent shall not be responsible for, nor have any liability in  connection with, maintaining, updating, monitoring or enforcing the list of Disqualified Lenders or for any  assignment or participation to a Disqualified Lender.                  9.4 Reliance by Administrative Agent.                The Administrative Agent shall be entitled to rely upon, and shall not incur any liability  for relying upon, any notice, request, certificate, consent, statement, instrument, document or other writing  (including any electronic message, Internet or intranet website posting or other distribution) believed by it  to be genuine and to have been signed, sent or otherwise authenticated by the proper Person.  The  Administrative Agent also may rely upon any statement made to it orally or by telephone and believed by   it to have been made by the proper Person, and shall not incur any liability for relying thereon.  In   determining compliance with any condition hereunder to the making of a Loan that by its terms must be   fulfilled to the satisfaction of a Lender, the Administrative Agent may presume that such condition is  satisfactory to such Lender unless the Administrative Agent shall have received notice to the contrary from  such Lender prior to the making of such Loan.  The Administrative Agent may consult with legal counsel  (who may be counsel for the Borrower), independent accountants and other experts selected by it, and shall  not be liable for any action taken or not taken by it in accordance with the advice of any such counsel,  accountants or experts.  The Administrative Agent shall be fully justified in failing or refusing to take any  action under this Agreement or any other Loan Document unless it shall first receive such advice or  concurrence of the Required Lenders (or such other number or percentage of Lenders as shall be provided  for herein or in the other Loan Documents) as it deems appropriate or it shall first be indemnified to its  satisfaction by the Lenders against any and all liability and expense that may be incurred by it by reason of  taking or continuing to take any such action.  The Administrative Agent shall in all cases be fully protected  in acting, or in refraining from acting, under this Agreement and the other Loan Documents in accordance  with a request of the Required Lenders (or such other number or percentage of Lenders as shall be provided  for herein or in the other Loan Documents), and such request and any action taken or failure to act pursuant  thereto shall be binding upon the Lenders and all future holders of the Loans.                  9.5 Delegation of Duties.                The Administrative Agent may perform any and all of its duties and exercise its rights and  powers hereunder or under any other Loan Document by or through any one or more sub-agents appointed  by the Administrative Agent.  The Administrative Agent and any such sub-agent may perform any and all   of its duties and exercise its rights and powers by or through their respective Related Parties.  The   exculpatory provisions of this Section 9 shall apply to any such sub-agent and to the Related Parties of the   Administrative Agent and any such sub-agent, and shall apply to their respective activities in connection   with the syndication of the credit facilities provided for herein as well as activities as Administrative Agent.                  9.6 Resignation and Removal of Administrative Agent.                (a)   The Administrative Agent may at any time give notice of its resignation to the  Lenders and the Borrower.  Upon receipt of any such notice of resignation, the Required Lenders shall have  the right, subject to the approval of the Company Borrower, not to be unreasonably withheld, for so long  as no Event of Default set forth under Section 8.1(a) or 8.1(f) has occurred and is continuing, to appoint a                                        -145-        

 

     successor, which shall be a bank with an office in the United States, or an Affiliate of any such bank with   an office in the United States.  If no such successor shall have been so appointed by the Required Lenders   and shall have accepted such appointment within 30 days after the retiring Administrative Agent gives   notice of its resignation (or such earlier day as shall be agreed by the Required Lenders) (the “Resignation   Effective Date”), then the retiring Administrative Agent may (but shall not be obligated to) on behalf of the   Lenders, in consultation with the Borrower, appoint a successor Administrative Agent meeting the   qualifications set forth above.  Whether or not a successor has been appointed, such resignation shall   become effective in accordance with such notice on the Resignation Effective Date.                (b)   If the Person serving as Administrative Agent is a Defaulting Lender pursuant to  clause (d) of the definition thereof, the Required Lenders may, to the extent permitted by applicable  Requirement of Law, by notice in writing to the Borrower and such Person remove such Person as  Administrative Agent and, subject to the approval of the Company Borrower, not to be unreasonably  withheld, for so long as no Event of Default set forth under Section 8.1(a) or 8.1(f) has occurred and is   continuing, appoint a successor.  If no such successor shall have been so appointed by the Required Lenders   and shall have accepted such appointment within 30 days (or such earlier day as shall be agreed by the   Required Lenders) (the “Removal Effective Date”), then such removal shall nonetheless become effective   in accordance with such notice on the Removal Effective Date.                (c)   With effect from the Resignation Effective Date or the Removal Effective Date (as  applicable) the retiring or removed Administrative Agent shall be discharged from its duties and obligations  hereunder and under the other Loan Documents (except that in the case of any collateral security held by  the Administrative Agent on behalf of the Lenders under any of the Loan Documents, the retiring or  removed Administrative Agent shall continue to hold such collateral security until such time as a successor  Administrative Agent is appointed), all payments, communications and determinations provided to be made  by, to or through the Administrative Agent shall instead be made by or to each Lender directly, until such  time as the Required Lenders appoint a successor Administrative Agent as provided for above.  Upon the  acceptance of a successor’s appointment as Administrative Agent hereunder, such successor shall succeed  to and become vested with all of the rights, powers, privileges and duties of the retiring (or removed)  Administrative Agent, and the retiring or removed Administrative Agent shall be discharged from all of its  duties and obligations hereunder or under the other Loan Documents (if not already discharged therefrom  as provided above in this Section).  The fees payable by the Borrower to a successor Administrative Agent  shall be the same as those payable to its predecessor unless otherwise agreed between the Borrower and  such successor.  After the retiring or removed Administrative Agent’s resignation or removal hereunder  and under the other Loan Documents, the provisions of this Section 9 and Section 10.5 shall continue in   effect for the benefit of such retiring or removed Administrative Agent, its sub agents and their respective   Related Parties in respect of any actions taken or omitted to be taken by any of them while the retiring or   removed Administrative Agent was acting as Administrative Agent.                  9.7 Non-Reliance on Administrative Agent and Other Lenders.                Each Lender acknowledges that it has, independently and without reliance upon the   Administrative Agent or any other Lender or any of their Related Parties and based on such documents and   information as it has deemed appropriate, made its own credit analysis and decision to enter into this   Agreement.  Each Lender also acknowledges that it will, independently and without reliance upon the   Administrative Agent or any other Lender or any of their Related Parties and based on such documents and   information as it shall from time to time deem appropriate, continue to make its own decisions in taking or   not taking action under or based upon this Agreement, any other Loan Document or any related agreement   or any document furnished hereunder or thereunder.                                         -146-        

 

                   9.8 No Other Duties, Etc.                Anything herein to the contrary notwithstanding, none of the Administrative Agent, Joint  Bookrunners or Joint Lead Arrangers listed on the cover page hereof, the Amendment No. 1 Lead Arrangers  and Bookrunners, the Amendment No. 2 Lead Arrangers and Bookrunners, the Amendment No. 3 Lead  Arrangers and Bookrunners or, the Amendment No. 4 Lead Arrangers and Bookrunners or the Amendment   No. 5 Lead Arrangers shall have any powers, duties or responsibilities under this Agreement or any of the   other Loan Documents, except in its capacity, as applicable, as the Administrative Agent or a Lender   hereunder.                  9.9 Administrative Agent May File Proofs of Claim.                In case of the pendency of any proceeding under any Debtor Relief Law or any other  judicial proceeding relative to any Loan Party, the Administrative Agent (irrespective of whether the  principal of any Loan shall then be due and payable as herein expressed or by declaration or otherwise and  irrespective of whether the Administrative Agent shall have made any demand on the Borrower) shall be  entitled and empowered, by intervention in such proceeding or otherwise:                (a)   to file and prove a claim for the whole amount of the principal and interest owing  and unpaid in respect of the Loans and all other Obligations that are owing and unpaid and to file such other  documents as may be necessary or advisable in order to have the claims of the Lenders and the  Administrative Agent (including any claim for the reasonable compensation, expenses, disbursements and  advances of the Lenders and the Administrative Agent and their respective agents and counsel and all other  amounts due the Lenders and the Administrative Agent under Sections 2.8 and 10.5) allowed in such   judicial proceeding; and                (b)   to collect and receive any monies or other property payable or deliverable on any  such claims and to distribute the same;                and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar  official in any such judicial proceeding is hereby authorized by each Lender to make such payments to the  Administrative Agent and, if the Administrative Agent shall consent to the making of such payments  directly to the Lenders, to pay to the Administrative Agent any amount due for the reasonable compensation,  expenses, disbursements and advances of the Administrative Agent and its agents and counsel, and any  other amounts due the Administrative Agent under Sections 2.8 and 10.5.                Nothing contained herein shall be deemed to authorize the Administrative Agent to  authorize or consent to or accept or adopt on behalf of any Lender any plan of reorganization, arrangement,  adjustment or composition affecting the Obligations or the rights of any Lender to authorize the  Administrative Agent to vote in respect of the claim of any Lender or in any such proceeding.                  9.10 Collateral and Guaranty Matters.                (a)   Each of the Lenders (including in its capacities as a potential Qualified  Counterparty and a potential Cash Management Provider) irrevocably authorize the Administrative Agent  (without requirement of notice to or consent of any Lender except as expressly required by Section 10.1):   (i) to release any Lien on any property granted to or held by the Administrative Agent under any Loan   Document (1) at the time the property subject to such Lien is disposed of or to be disposed of as part of or   in connection with any disposition permitted hereunder or under any other Loan Document to any Person  other than a Loan Party, (2) subject to Section 10.1, if the release of such Lien is approved, authorized or   ratified in writing by the Required Lenders, (3) if the property subject to such Lien is owned by a Guarantor,                                        -147-        

 

     upon release of such Guarantor from its obligations under the Guarantee or (4) that constitutes Excluded   Assets; provided, that this clause (4) shall not apply to any Mortgaged Properties that are subject to a   Mortgage as of the Amendment No. 4 Effective Date that constitute Excluded Assets solely as a result of   Amendment No. 4;  (ii) to release or subordinate, as expressly permitted hereunder, any Lien on any   property granted to or held by the Administrative Agent under any Loan Document to the holder of any   Lien on such property that is permitted by this Agreement to the extent required by the holder of, or pursuant   to the terms of any agreement governing, the obligations secured by such Liens; and (iii) to release any   Guarantor from its obligations under the Guarantee if such Person ceases to be a Restricted Subsidiary or   becomes an Excluded Subsidiary as a result of a transaction or designation permitted hereunder.               (b)   Upon request by the Administrative Agent at any time, the Required Lenders will  confirm in writing the Administrative Agent’s authority to release or subordinate its interest in particular  types or items of property, or to release (pursuant to clause (a) above) any Guarantor from its obligations  under the Guarantee.                (c)   At such time as the Loans and the other Obligations (other than contingent  obligations for which no claim has been made) shall have been satisfied by payment in full in immediately  available funds and the Commitments have been terminated, the Collateral shall be automatically released  from the Liens created by the Security Documents, and the Security Documents and all obligations (other  than those expressly stated to survive such termination) of the Administrative Agent and each Group  Member under the Security Documents shall automatically terminate, all without delivery of any instrument  or performance of any act by any Person.                (d)   If (i) a Guarantor was released from its obligations under the Guarantee or (ii) the  Collateral was released from the assignment and security interest granted under the Security Document (or  the interest in such item subordinated), the Administrative Agent will (and each Lender irrevocably  authorizes the Administrative Agent to) execute and deliver to the applicable Loan Party such documents  as such Loan Party may reasonably request to evidence the release of such Guarantor from its obligations  under the Guarantee, the release of such item of Collateral from the assignment and security interest granted  under the Security Documents or to subordinate its interest in such item, in each case in accordance with  the terms of the Loan Documents and this Section 9.10.                (e)   If as a result of any transaction not prohibited by this Agreement (i) any Guarantor  becomes an Excluded Domestic Subsidiary or a Foreign Subsidiary that is a CFC, then (x) such Guarantor’s  Guarantee shall be automatically released, and (y) the Voting Stock of such Guarantor (other than 65% of  the total outstanding Voting Stock of a CFC Holdco or Foreign Subsidiary that is a CFC that, in each case,   is directly owned by a Borrower or a Guarantor) shall be automatically released from the security interests   created by the Loan Documents, or (ii) any CFC Holdco or any Foreign Subsidiary that is a CFC ceases to   be directly owned by a Borrower or Guarantor, then the Capital Stock of such Subsidiary shall be   automatically released from any security interests created by the Loan Documents.  In connection with any   termination or release pursuant to this Section 9.10(e), the Administrative Agent and any applicable Lender   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.  Any execution and   delivery of documents pursuant to this Section 9.10(e) shall be without recourse to or warranty by the   Administrative Agent or any Lender.                                          -148-        

 

                   9.11 Intercreditor Agreements.                The Lenders hereby authorize the Administrative Agent to enter into any Intercreditor  Agreement or other intercreditor agreement or arrangement permitted under this Agreement and any such  intercreditor agreement is binding upon the Lenders.                Except as otherwise expressly set forth herein or in any Security Document, no Qualified  Counterparty or Cash Management Provider that obtains the benefits of Section 8.4, any Guarantee or any   Collateral by virtue of the provisions hereof or of any Guarantee or 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 this Section 9 to the contrary, the   Administrative Agent shall not be required to verify the payment of, or that other satisfactory arrangements   have been made with respect to, Cash Management Obligations and Obligations arising under Specified   Swap Agreements unless the Administrative Agent has received written notice of such Obligations, together   with such supporting documentation as the Administrative Agent may request, from the applicable Cash   Management Provider or Qualified Counterparty, as the case may be.                  9.12 Withholding Tax Indemnity.                To the extent required by any applicable Requirement of Laws, the Administrative Agent  may withhold from any payment to any Lender under any Loan Document an amount equivalent to any  applicable withholding Tax.  If the Internal Revenue Service or any other Governmental Authority asserts  a claim that the Administrative Agent did not properly withhold Tax from amounts paid to or for the account  of any Lender for any reason (including because the appropriate form was not delivered or not properly  executed, or because such Lender failed to notify the Administrative Agent of a change in circumstance  that rendered the exemption from, or reduction of withholding Tax ineffective), such Lender shall, within  10 days after written demand therefor, indemnify and hold harmless the Administrative Agent (to the extent  that the Administrative Agent has not already been reimbursed by the Borrower or any other Loan Party  pursuant to Section 2.14 and without limiting or expanding the obligation of the Borrower or any other   Loan Party to do so) for all amounts paid, directly or indirectly, by the Administrative Agent as Taxes or   otherwise, together with all expenses incurred, including legal expenses and any other out-of-pocket   expenses, whether or not such Tax was correctly or legally imposed or asserted by the relevant   Governmental Authority.  A certificate as to the amount of such payment or liability delivered to any Lender   by the Administrative Agent shall be conclusive absent manifest error.  Each Lender hereby authorizes the   Administrative Agent to set off and apply any and all amounts at any time owing to such Lender under this   Agreement or any other Loan Document against any amount due the Administrative Agent under this   Section 9.12.  The agreements in this Section 9.12 shall survive the resignation and/or replacement of the   Administrative Agent, any assignment of rights by, or the replacement of, a Lender, the termination of the   Commitments and the repayment, satisfaction or discharge of all other Obligations.                  9.13 Indemnification.                Each of the Lenders agrees to indemnify the Administrative Agent, the Joint Lead  Arrangers (and their Related Parties), the Amendment No. 1 Lead Arrangers and Bookrunners (and their  Related Parties), the Amendment No. 2 Lead Arrangers and Bookrunners (and their Related Parties), the  Amendment No. 3 Lead Arrangers and Bookrunners (and their Related Parties) and, the Amendment No.   4 Lead Arrangers and Bookrunners (and their Related Parties) and the Amendment No. 5 Lead Arrangers   and Bookrunners (and their Related Parties) in their respective capacities as such (to the extent not   reimbursed by any Loan Party and without limiting or expanding the obligation of the Loan Parties to do                                        -149-        

 

     so), according to its Aggregate Exposure Percentage in effect on the date on which indemnification is sought   under this Section 9.13 (or, if indemnification is sought after the date upon which the Commitments shall   have terminated and the Loans shall have been paid in full, in accordance with its Aggregate Exposure   Percentage immediately prior to such date), from and against any and all liabilities, obligations, losses,   damages, penalties, actions, judgments, suits, costs, expenses or disbursements of any kind whatsoever that   may at any time (whether before or after the payment of the Loans) be imposed on, incurred by or asserted   against the Administrative Agent, the Joint Lead Arrangers or their Related Parties, the Amendment No. 1   Lead Arrangers and Bookrunners or their Related Parties, the Amendment No. 2 Lead Arrangers and   Bookrunners, the Amendment No. 3 Lead Arrangers and Bookrunners or their Related Parties or, the   Amendment No. 4 Lead Arrangers and Bookrunners or their Related Parties or the Amendment No. 5 Lead   Arrangers and Bookrunners or their Related Parties (the foregoing, the “Lender Indemnitees”) in any way   relating to or arising out of, the Commitments, this Agreement, any of the other Loan Documents or any   documents contemplated by or referred to herein or therein or the transactions contemplated hereby or   thereby or any action taken or omitted by the Administrative Agent or any other Person under or in   connection with any of the foregoing; provided that no Lender shall be liable to any Lender Indemnitee for   the payment of any portion of such liabilities, obligations, losses, damages, penalties, actions, judgments,   suits, costs, expenses or disbursements to the extent that they are (i) (A) found by a final and nonappealable   decision of a court of competent jurisdiction to have resulted from the gross negligence, bad faith or willful   misconduct of such Lender Indemnitee, (B) found by a final and nonappealable decision of a court of   competent jurisdiction to have resulted from a material breach of the Loan Documents by such Lender   Indemnitee, or (C) are disputes that do not involve an act or omission by the Borrower, Holdings or any of   their respective Affiliates and that are brought by any Lender Indemnitee against any other Lender   Indemnitee (other than in its capacity as Administrative Agent, Joint Lead Arranger, Joint Bookrunner,   Amendment No. 1 Lead Arranger and Bookrunner, Amendment No. 2 Lead Arranger and Bookrunner,   Amendment No. 3 Lead Arranger and Bookrunners, Amendment No. 4 Lead Arrangers and Bookrunners,   Amendment No. 5 Lead Arrangers and Bookrunners or similar role hereunder) or (ii) settlements entered   into by such person without such Lender’s written consent (such consent to not be unreasonably withheld,   conditioned or delayed).  The agreements in this Section 9.13 shall survive the termination of this  Agreement and the payment of the Loans and all other amounts payable hereunder.    SECTION 10  MISCELLANEOUS                  10.1 Amendments and Waivers.                (a)   Except as otherwise provided in Section 2.11(d) or clause (b) below, neither this   Agreement nor any other Loan Document (or any terms hereof or thereof) may be amended, supplemented   or modified other than in accordance with the provisions of this Section 10.1.  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 and each Loan Party party to the relevant Loan Document may, from   time to time, (i) enter into written amendments, supplements or modifications hereto and to the other Loan   Documents 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 of the Loan Parties hereunder or thereunder or (ii)   waive, on such terms and conditions as the Required Lenders or the Administrative Agent, as the case may   be, may specify in such instrument, 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 (A) forgive the principal amount or extend the final   scheduled date of maturity of any Loan, extend the scheduled date of any amortization payment in respect   of any Loan, reduce the stated rate of any interest or fee payable hereunder (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 Required Lenders) and (y) that any amendment or modification of defined terms                                         -150-        

 

     used in the leverage ratios in this Agreement shall not constitute a reduction in the rate of interest or fees   for purposes of this clause (A)) or extend the scheduled date of any payment thereof, or increase the amount   or extend the expiration date of any Lender’s Commitment or increase such Lender’s Commitment, in each   case without the written consent of each Lender directly adversely affected thereby; (B) amend, modify,   eliminate or reduce the voting rights of any Lender under this Section 10.1 without the written consent of   all Lenders; (C) (x) reduce any percentage specified in the definition of Required Lenders, (y) consent to   the assignment or transfer by the Borrower of any of its rights and obligations under this Agreement and   the other Loan Documents or (z) release all or substantially all of the Collateral or release all or substantially   all of the Guarantors from their obligations under Section 7 of this Agreement or under the Security   Agreement, in each case without the written consent of all Lenders; (D) amend, modify or waive any   provision of Section 2.12(a) or (b) which results in a change to the pro rata application of Loans under any   Facility without the written consent of each Lender directly affected thereby in respect of each Facility   adversely affected thereby, unless the amendment is made in connection with an amendment pursuant to   paragraph (b) below, in which case the written consent of the Required Lenders shall be required; (E)    amend, modify or waive any provision of Section 9 without the written consent of the Administrative Agent;   or (F) amend or modify the application of prepayments set forth in Section 2.6(g) in a manner that adversely   affects any Facility without the written consent of the Majority Facility Lenders of each adversely affected   Facility.  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 Administrative Agent and   all future holders of the Loans.  In the case of any waiver, the Loan Parties, the Lenders and the   Administrative Agent 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 during the period such waiver is effective; but no such waiver shall extend to any subsequent or   other Default or Event of Default, or impair any right consequent thereon.                (b)   Notwithstanding anything in this Agreement (including clause (a) above) or any  other Loan Document to the contrary:                      (i)   this Agreement may be amended (or amended and restated) with the        written consent of the Administrative Agent, each Lender participating in the additional or extended        credit facilities contemplated under this paragraph (b)(i) and the Borrower (w) to add one or more        additional credit facilities to this Agreement or to increase the amount of the existing facilities        under 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 Loans and the accrued interest in respect        thereof, (x) to permit any such additional credit facility which is a Loan facility or any such increase        in the Facility to share ratably in prepayments with the Loans and (y) to include appropriately the        Lenders holding such credit facilities in any determination of the Required Lenders and Majority        Facility Lenders;                      (ii) this Agreement may be amended with the written consent of the        Administrative Agent, the Borrower and the Lenders providing the relevant Repriced Loans (as        defined below) to permit a (x) any prepayment, repayment, refinancing, substitution or replacement        of all or a portion of the Loans with the proceeds of, or any conversion of Loans into, any new or        replacement tranche of syndicated Loans bearing interest with an “effective yield” (taking into        account interest rate margin and benchmark floors, recurring fees and all upfront or similar fees or        original issue discount (amortized over the shorter of (A) the weighted average life to maturity of        such Loans and (B) four years), but excluding any arrangement, structuring, syndication or other        fees payable in connection therewith that are not shared ratably with all lenders or holders of such        Loans in their capacities as lenders or holders of such Loans) less than the “effective yield”                                        -151-        

 

                 applicable to the Loans (determined on the same basis as provided in the preceding parenthetical)   and (y) any amendment to the Loans or any tranche thereof which reduces the “effective yield”   applicable to such Loans (as determined on the same basis as provided in clause (x)) (“Repriced   Loans”); provided that the Repriced Loans  shall otherwise meet the Applicable Requirements;                (iii) this Agreement may be amended with the written consent of the  Administrative Agent, the Borrower and the Lenders providing the relevant Repricing Indebtedness   to permit any Repricing Transaction;                (iv)  this Agreement and the other Loan Documents may be amended or  amended and restated as contemplated by Section 2.19 in connection with any Incremental   Amendment and any related increase in Commitments or Loans, with the consent of the Borrower,   the Administrative Agent and the Incremental Lenders providing such increased Commitments or   Loans (provided, that the Administrative Agent may enter into an Intercreditor Agreement (or   amend, supplement or modify and existing Intercreditor Agreement) as may be necessary or   appropriate, in the reasonable opinion of the Administrative Agent, to effect the terms of any such   Incremental Loans);                (v)   this Agreement and the other Loan Documents may be amended in  connection with the incurrence of any Permitted Credit Agreement Refinancing Debt pursuant to  Section 2.20 to the extent (but only to the extent) necessary to reflect the existence and terms of   such Permitted Credit Agreement Refinancing Debt (including any amendments necessary to treat   the Loans and Commitments subject thereto as Other Loans and/or Other Commitments), with the   written consent of the Borrower, the Administrative Agent and each Additional Lender and Lender   that agrees to provide any portion of such Permitted Credit Agreement Refinancing Debt (a   “Refinancing Amendment”) (provided that the Administrative Agent and the Borrower may effect   such amendments to this Agreement, any Intercreditor Agreement (or enter into a replacement  thereof) and the other Loan Documents as may be necessary or appropriate, in the reasonable  opinion of the Administrative Agent and the Borrower, to effect the terms of such Refinancing  Amendment);                (vi)  this Agreement and the other Loan Documents may be amended in  connection with any Permitted Amendment pursuant to a Loan Modification Offer in accordance  with Section 2.22(b) (and the Administrative Agent and the Borrower may effect such amendments   to this Agreement, any Intercreditor Agreement (or enter into a replacement thereof) and the other   Loan Documents as may be necessary or appropriate, in the reasonable opinion of the   Administrative Agent and the Borrower, to effect the terms of such Permitted Amendment);                (vii) the Administrative Agent may amend an Intercreditor Agreement (or enter  into a replacement thereof), additional Security Documents and/or replacement Security  Documents (including a collateral trust agreement) in connection with the incurrence of (x) any  Permitted First Priority Refinancing Debt to provide that a Senior Representative acting on behalf  of the holders of such Indebtedness shall become a party thereto and shall have rights to share in  the Collateral on a pari passu basis (but without regard to the control of remedies) with the  Obligations, (y) any Permitted Second Priority Refinancing Debt to provide that a Senior  Representative acting on behalf of the holders of such Indebtedness shall become a party thereto  and shall have rights to share in the Collateral on a junior lien, subordinated basis to the Obligations  and the obligations in respect of any Permitted First Priority Refinancing Debt and (z) any  Indebtedness incurred pursuant to Section 6.1(b)(vi) to provide that an agent, trustee or other   representative acting on behalf of the holders of such Indebtedness shall become a party thereto                                  -152-                                

 

                    and shall have rights to share in the Collateral on a pari passu or junior lien, subordinated basis to      the Obligations and the obligations in respect of any Permitted First Priority Refinancing Debt;                   (viii) amendments and waivers of this Agreement and the other Loan      Documents that affect solely the Lenders under any Facility or any Incremental Facility (including      waiver or modification of conditions to extensions of credit thereunder, the availability and      conditions to funding of any Incremental Facility and pricing and other modifications) will require      only the consent of Lenders holding more than 50% of the aggregate commitments or loans, as      applicable, under such Facility or Incremental Facility and, in each case, (x) no other consents or      approvals shall be required and (y) any fees or other consideration payable to obtain such      amendments or waivers need only be offered on a pro rata basis to the Lenders under the affected      Facility or Incremental Facility, as the case may be; and                  (ix)  this Agreement and the other Loan Documents may be amended with the     consent of the Administrative Agent and the Borrower to correct any mistakes or ambiguities of a     technical nature.               10.2 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 telecopy notice, when received, addressed  as follows in the case of Holdings, the Company Borrower and the Administrative Agent, and as set  forth in an administrative questionnaire delivered to the Administrative Agent in the case of the Lenders,  or to such other address as may be hereafter notified by the respective parties hereto:     To the Company Borrower:           JELD-WEN, Inc.                                       440 S. Church Street, Suite 400                                       2645 Silver Crescent Drive                                       Charlotte, North Carolina 28202NC 28273                                       Attn: Chief Financial Officer                                        Telephone: (704) 378-5700                                       Email: bmallardjlinker@jeldwen.com                                                                               with a copy to:                                                                              JELD-WEN, Inc.                                       440 S. Church Street, Suite 400                                       2645 Silver Crescent Drive                                       Charlotte, North Carolina 28202NC 28273                                       Attn: General Counsel                                         Telephone: (704) 378-5700                                       Email: LegalNotice@jeldwen.com                                                                                                                                                                                                                                                                                                                                                                                                     -153-                                

 

         To any Guarantor:                  c/o the Company Borrower at the address set                                          forth above                                                                                    in each case, with a copy to:                                                                                    Cleary Gottlieb Steen & Hamilton LLP                                          One Liberty Plaza                                          New York, New York 10006                                          Attn: Margaret S. Peponis                                          Telecopy: (212) 225-3999                                          Telephone: (212) 225-2822                                          Email: mpeponis@cgsh.com                                                  To the Administrative Agent:       Henry Pennell                                          Bank of America, N.A.                                          901 Main Street, 14th Floor                                          TX1-492-14-11                                          Dallas, TX 75202                                          Telecopy: (214) 290-9448                                          Telephone: (214) 209-1226                                          Email: henry.pennell@baml.com                                                                                     With a copy to:                                                                                    Julia Barry                                          Bank of America, N.A.                                          100 N. Tryon Street, 17th Floor                                          NC1-007-17-15                                          Charlotte, NC 28255                                          Email: julia.barry@baml.com                                             ; provided that any notice, request or demand to or upon the Administrative Agent or the Lenders shall not   be effective until received.  In no event shall a voice mail message be effective as a notice, communication   or confirmation hereunder.  All telephonic notices to the Administrative Agent may be recorded by the   Administrative Agent, and each of the parties hereto hereby consents to such recording.                Notices and other communications to the Lenders hereunder may be delivered or furnished  by electronic communications pursuant to procedures approved by the Administrative Agent; provided that   the foregoing shall not apply to notices pursuant to Section 2 unless otherwise agreed by the Administrative   Agent and the applicable Lender (“Approved Electronic Communications”).  The Administrative Agent or   the Borrower may, in their discretion, agree to accept notices and other communications to it hereunder by   electronic communications pursuant to procedures approved by it; provided that approval of such   procedures may be limited to particular notices or communications.  Unless the Administrative Agent   otherwise prescribes, (a) notices and other communications sent to an email address shall be deemed   received upon the sender’s receipt of an acknowledgment from the intended recipient (such as by the “return   receipt requested” function, as available, return email or other written acknowledgment), provided that if   such notice or other communication is not sent during the normal business hours of the recipient, such   notice or communication shall be deemed to have been sent at the opening of business on the next Business   Day for the recipient, and (b) notices or communications posted to an Internet or intranet website shall be   deemed received upon the deemed receipt by the intended recipient at its email address as described in the                                         -154-        

 

     foregoing clause (a) of notification that such notice or communication is available and identifying the   website address therefor.                Each Loan Party agrees to assume all risk, and hold the Administrative Agent, the Joint   Bookrunners and each Lender harmless from any losses, associated with, the electronic transmission of   information (including the protection of confidential information), except to the extent caused by the gross   negligence or willful misconduct of such Person.                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 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 PRIMARILY FROM SUCH PERSON’S GROSS  NEGLIGENCE OR WILLFUL MISCONDUCT.                Each Loan Party, the Lenders, the Joint Lead Arrangers, the Joint Bookrunners, the  Amendment No. 1 Lead Arrangers and Bookrunners, the Amendment No. 2 Lead Arrangers and  Bookrunners, the Amendment No. 3 Lead Arrangers and Bookrunners, the Amendment No. 4 Lead   Arrangers and Bookrunners, the Amendment No. 5 Lead Arrangers and Bookrunners and the   Administrative Agent agree that the Administrative Agent may, but shall not be obligated to, store any   Approved Electronic Communications on the Platform in accordance with Administrative Agent’s   customary document retention procedures and policies.                  10.3 No Waiver; Cumulative Remedies.  No failure to exercise and no delay in     exercising, on the part of the Administrative Agent or any Lender, any right, remedy, power or privilege     hereunder or under the other Loan Documents shall operate as a waiver thereof; nor shall any single or     partial exercise of any right, remedy, power or privilege hereunder preclude any other or further exercise     thereof or the exercise of any other right, remedy, power or privilege.  The rights, remedies, powers and     privileges herein provided are cumulative and not exclusive of any rights, remedies, powers and     privileges provided by law.                  10.4 Survival of Representations and Warranties.  All representations and warranties     made hereunder, in the other Loan Documents and in any document, certificate or statement delivered     pursuant hereto or in connection herewith shall survive the execution and delivery of this Agreement     and the making of the Loans and other extensions of credit hereunder.                  10.5 Payment of Expenses and Taxes.  The Borrower agrees upon the occurrence of the     Closing Date (a) to pay or reimburse the Joint Lead Arrangers and the Administrative Agent (without                                         -155-        

 

                duplication) for all their reasonable and documented out-of-pocket costs and expenses incurred in  connection with the development, preparation and execution of, and any amendment, supplement or  modification to, this Agreement and the other Loan Documents and any other documents prepared in  connection herewith or therewith, and the consummation and administration of the transactions  contemplated hereby and thereby, including the reasonable fees and disbursements of one primary  counsel to the Administrative Agent, the Joint Lead Arrangers and the Joint Bookrunners, taken as a  whole, and one local counsel to the foregoing Persons, taken as a whole, in each appropriate jurisdiction  (which may include one special counsel acting in multiple jurisdictions) (and additional counsel in the  case of actual or perceived conflicts), and filing and recording fees and expenses, with statements with  respect to the foregoing to be submitted to the Company Borrower on or prior to the Closing Date (in  the case of amounts to be paid on the Closing Date) and from time to time thereafter on a quarterly basis  or such other periodic basis as the Administrative Agent shall deem appropriate, (b) to pay or reimburse  each Lender and the Administrative Agent for all of their reasonable out-of-pocket costs and expenses  (other than allocated costs of in-house counsel) incurred in connection with the workout, restructuring,  enforcement or preservation of any rights under this Agreement, the other Loan Documents and any  such other documents, including the reasonable fees and disbursements of one primary counsel to the  Lenders, the Administrative Agent, the Joint Lead Arrangers, the Joint Bookrunners, the Amendment  No. 1 Lead Arrangers and Bookrunners, the Amendment No. 2 Lead Arrangers and Bookrunners, the  Amendment No. 3 Lead Arrangers and Bookrunners and, the Amendment No. 4 Lead Arrangers and  Bookrunners and the Amendment No. 5 Lead Arrangers and Bookrunners, taken as a whole, and one  local counsel to the foregoing Persons, taken as a whole, in each appropriate jurisdiction (which may  include one special counsel acting in multiple jurisdictions) (and in the case of an actual or perceived  conflict of interest by any of the foregoing Persons, additional counsel to such affected Person), (c) to  pay, indemnify, and hold each Lender and the Administrative Agent harmless from, any and all  recording and filing fees that may be payable or determined to be payable in connection with the  execution and delivery of, or consummation or administration of any of the transactions contemplated  by, or any amendment, supplement or modification of, or any waiver or consent under or in respect of,  this Agreement, the other Loan Documents and any such other documents, and (d) to pay, indemnify,  and hold each Lender, the Administrative Agent, each Joint Lead Arranger, the Joint Bookrunners, the  Amendment No. 1 Lead Arrangers and Bookrunners, the Amendment No. 2 Lead Arrangers and  Bookrunners, the Amendment No. 3 Lead Arrangers and Bookrunners, the Amendment No. 4 Lead  Arrangers and Bookrunners, the Amendment No. 5 Lead Arrangers and Bookrunners and each of their  respective Affiliates that are providing services in connection with the financing contemplated by this  Agreement and each member (and successors and assigns), officer, director, trustee, employee, agent  and controlling person of the foregoing (each, an “Indemnitee”) harmless from and against any and all  other claims, liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses  or disbursements of any kind or nature whatsoever with respect to or arising out of or in connection with  the execution, delivery, enforcement, performance and administration of this Agreement, the other Loan  Documents and any such other documents (regardless of whether any Indemnitee is a party hereto and  regardless of whether any such matter is initiated by a third party, the Borrower, any other Loan Party  or any other Person), including any of the foregoing relating to the use of proceeds of the Loans or the  violation of, noncompliance with or liability under, any Environmental Law relating to any Group  Member or any of the Properties and the reasonable fees and expenses of one primary legal counsel to  the Indemnitees, taken as a whole (or in the case of an actual or perceived conflict of interest by an  Indemnitee, additional counsel to the affected Indemnitees), and one local counsel in each appropriate  jurisdiction (which may include one special counsel acting in multiple jurisdictions) to the Indemnitees   in connection with claims, actions or proceedings by any Indemnitee against any Loan Party under any  Loan Document (all the foregoing in this clause (d), collectively, the “Indemnified Liabilities”) (but  excluding any losses, liabilities, claims, damages, costs or expenses relating to the matters referred to in  Sections 2.13 and 2.15 (which shall be the sole remedy in respect of the matters set forth therein)),  provided that the Borrower shall not have any obligation hereunder to any Indemnitee with respect to                                     -156-                                

 

       Indemnified Liabilities to the extent such Indemnified Liabilities are (i) (A) found by a final and     nonappealable decision of a court of competent jurisdiction to have resulted from the gross negligence,     bad faith or willful misconduct of such Indemnitee, (B) found by a final and nonappealable decision of     a court of competent jurisdiction to have resulted from a material breach of the Loan Documents by such     Indemnitee, (C) any dispute that does not involve an act or omission by the Borrower, Holdings or any     of their respective Affiliates and that is brought by any Indemnitee against any other Indemnitee (other     than in its capacity as Administrative Agent, Joint Lead Arranger, Joint Bookrunner, Amendment No. 1     Lead Arranger and Bookrunner, Amendment No. 2 Lead Arranger and Bookrunner, Amendment No. 3     Lead Arranger and Bookrunner, Amendment No. 4 Lead Arranger and Bookrunner, Amendment No. 5     Lead Arranger and Bookrunner or similar role hereunder), (D) directly and exclusively caused, with     respect to the violation of, noncompliance with or liability under, any Environmental Law relating to     any of the Properties, by the act or omissions by Persons other than the Borrower or any Subsidiary of     the Borrower or their respective Related Parties with respect to the applicable Property that occur after     the Administrative Agent sells the respective Property pursuant to a foreclosure or has accepted a deed     in lieu of foreclosure or (E) with respect to Taxes, other than any Taxes that represent losses, claims,     damages, etc. arising from any non-Tax claim or (ii) settlements entered into by such person without the     Borrower’s written consent (such consent to not be unreasonably withheld, conditioned or delayed).  All     amounts due under this Section 10.5 shall be payable not later than 10 days after written demand therefor.      Statements payable by the Borrower pursuant to this Section 10.5 shall be submitted to the Borrower at     the address set forth in Section 10.2, or to such other Person or address as may be hereafter designated     by the Borrower in a written notice to the Administrative Agent.  The agreements in this Section 10.5     shall survive the termination of this Agreement and the repayment of the Loans and all other amounts     payable hereunder.                  10.6 Successors and Assigns; Participations and Assignments.                (a)   The provisions of this Agreement shall be binding upon and inure to the benefit of  the parties hereto and their respective successors and assigns permitted hereby, except that (other than as  provided in Section 10.19) the Borrower may not assign or otherwise transfer any of its rights or obligations   hereunder without the prior written consent of each Lender and the Administrative Agent (and any   attempted assignment or transfer by the Borrower without such consent shall be null and void).                (b)   (i)   Subject to the conditions set forth in paragraph (b)(ii) below, any Lender   may assign to one or more Eligible Assignees (each, an “Assignee”) all or a portion of its rights and   obligations under this Agreement (including all or a portion of its Commitments and the Loans at the time   owing to it and the Note or Notes (if any) held by it) with the prior written consent (such consent not to be   unreasonably withheld, conditioned or delayed) of:                            (A)  in the case of any Lender (other than with respect to Incremental                    Loans and Incremental Commitments) or Incremental Lender (with respect to                    Incremental Loans and Incremental Commitments), the Company Borrower,                    provided that such consent shall be deemed to have been given if the Company                     Borrower has not responded within 10 Business Days after notice by the                     Administrative Agent, provided, further, that no consent of the Company Borrower                     shall be required for an assignment to a Lender, an Affiliate of a Lender, an                     Approved Fund (as defined below) or, if an Event of Default under Section 8.1(a)                     (or, in respect of the Borrower, Section 8.1(f)) has occurred and is continuing, any                     other Eligible Assignee; and                                          -157-        

 

                                  (B)   except with respect to an assignment of Loans to an existing             Lender, an Affiliate of a Lender or an Approved Fund, the Administrative Agent             (such consent not to be unreasonably withheld, conditioned or delayed).              (ii)  Assignments shall be subject to the following additional conditions:                     (A)  except in the case of an assignment to a Lender, an Affiliate of a             Lender or an Approved Fund or an assignment of the entire remaining amount of             the assigning Lender’s Commitments or Loans under any Facility, the amount of             the Commitments or Loans of the assigning Lender subject to each such             assignment (determined as of the date the Assignment and Assumption with             respect to such assignment is delivered to the Administrative Agent) shall not be             less than $1,000,000 (provided that, in each case, that simultaneous assignments              to or by two or more Approved Funds shall be aggregated for purposes of              determining such amount) unless the Administrative Agent and, in the case of              Loans (other than Incremental Loans), Incremental Loans or Incremental              Commitments, the Company Borrower otherwise consents;                     (B)   the parties to each assignment shall execute and deliver to the             Administrative Agent an Assignment Agreement via an electronic settlement             system acceptable to the Administrative Agent (or, if previously agreed with the             Administrative Agent, manually), and shall pay to the Administrative Agent a             processing and recordation fee of $3,500 (which fee may be waived or reduced in             the sole discretion of the Administrative Agent); and                    (C)    the Assignee, if it shall not be a Lender, shall deliver to the             Administrative Agent an administrative questionnaire and applicable Forms.         This paragraph (b) shall not prohibit any Lender from assigning all or any portion of its        rights and obligations among separate Facilities on a non-pro rata basis.         For the purposes of this Section 10.6, “Approved Fund” means any Person (other than a        natural person) that is engaged in making, purchasing, holding or investing in bank loans        and similar extensions of credit in the ordinary course and that is administered or managed        by (a) a Lender, (b) an Affiliate of a Lender or (c) an entity or an Affiliate of an entity that        administers or manages a Lender.               (iii) Assignments to Permitted Auction Purchasers.  Each Lender  acknowledges that each Permitted Auction Purchaser is an Eligible Assignee hereunder and may  purchase or acquire Loans hereunder from Lenders from time to time (x) pursuant to a Dutch  Auction in accordance with the terms of this Agreement (including Section 10.6 hereof), subject to  the restrictions set forth in the definitions of “Eligible Assignee” and “Dutch Auction” or (y)  pursuant to open market purchases, in each case, subject to the following limitations:                     (A)  each Permitted Auction Purchaser agrees that, notwithstanding             anything herein or in any of the other Loan Documents to the contrary, with respect             to any Auction Purchase or other acquisition of Loans, (1) under no circumstances,             whether or not any Loan Party is subject to a bankruptcy or other insolvency             proceeding, shall such Permitted Auction Purchaser be permitted to exercise any             voting rights or other privileges with respect to any Loans and any Loans that are                                  -158-                                

 

                       assigned to such Permitted Auction Purchaser shall have no voting rights or other                     privileges under this Agreement and the other Loan Documents and shall not be                     taken into account in determining any required vote or consent and (2) such                     Permitted Auction Purchaser shall not receive information provided solely to                     Lenders by the Administrative Agent or any Lender and shall not be permitted to                     attend or participate in meetings attended solely by Lenders and the Administrative                     Agent and their advisors; rather, all Loans held by any Permitted Auction                     Purchaser shall be automatically Cancelled immediately upon the purchase or                     acquisition thereof in accordance with the terms of this Agreement (including                     Section 10.6 hereof);                            (B)   at the time any Permitted Auction Purchaser is making purchases                    of Loans it shall enter into an Assignment and Assumption Agreement;                            (C)   immediately upon the effectiveness of each Auction Purchase or                    other acquisition of Loans, a Cancellation (it being understood that such                    Cancellation shall not constitute a voluntary repayment of Loans for purposes of                    this Agreement) shall be automatically irrevocably effected with respect to all of                    the Loans and related Obligations subject to such Auction Purchase, with the effect                    that such Loans and related Obligations shall for all purposes of this Agreement                    and the other Loan Documents no longer be outstanding, and the Borrower and the                    Guarantors shall no longer have any Obligations relating thereto, it being                    understood that such forgiveness and cancellation shall result in the Borrower and                    the Guarantors being irrevocably and unconditionally released from all claims and                    liabilities relating to such Obligations which have been so cancelled and forgiven,                    and the Collateral shall cease to secure any such Obligations which have been so                    cancelled and forgiven; and                           (D)   at the time of such Purchase Notice and Auction Purchase or other                    acquisition of Loans, (w) no Default or Event of Default shall have occurred and                    be continuing, (x) Holdings, the Borrower or any of their respective Affiliates shall                    not be required to make any representation that it is not in possession of material                    non-public information with respect to Holdings, the Borrower, their respective                    subsidiaries or their respective securities and (y) any Affiliated Lender that is a                    Purchaser shall identify itself as such.                Notwithstanding anything to the contrary herein, this Section 10.6(b)(iii) shall supersede  any provisions in Section 2.17 to the contrary.                      (iv)  Assignments to Affiliated Lenders.  Any Lender may, at any time, assign         all or a portion of its rights and obligations with respect to Loans to an Affiliated Lender through         (x) Dutch Auctions open to all Lenders on a pro rata basis or (y) open market purchases, in each         case subject to the following limitations:                            (A)  notwithstanding anything in Section 10.1 or the definition of                     “Required Lenders” to the contrary, for purposes of determining whether the                     Lenders have (1) consented to any amendment, waiver or modification of any Loan                     Document (including such modifications pursuant to Section 10.1), (2) otherwise                     acted on any matter related to any Loan Document, (3) directed or required                     Administrative Agent or any Lender to undertake any action (or refrain from taking                                        -159-        

 

                       any action) with respect to or under any Loan Document, or (4) subject to Section                     2.17, voted on any plan of reorganization pursuant to Title 11 of the United States                     Code, that in either case does not require the consent of each Lender or each                     affected Lender or does not adversely affect such Affiliated Lender                     disproportionately in any material respect as compared to other Lenders, the                     Sponsor and any Non-Debt Fund Affiliate will be deemed to have voted in the                     same proportion as Lenders that are not Affiliated Lenders voting on such matter;                     and the Sponsor and each Non-Debt Fund Affiliate each hereby acknowledges,                     agrees and consents that if, for any reason, its vote to accept or reject any plan                     pursuant to Title 11 of the United States Code) is not deemed to have been so                     voted, then such vote will be (x) deemed not to be in good faith and (y)                     “designated” pursuant to Section 1126(e) of Title 11 of the United States Code                     such that the vote is not counted in determining whether the applicable class has                     accepted or rejected such plan in accordance with Section 1126(c) of Title 11 of                     the United States Code; provided that, for the avoidance of doubt, Debt Fund                     Affiliates shall not be subject to such limitation and shall be entitled to vote as any                     other Lender; provided, further, that, notwithstanding the foregoing or anything                     herein to the contrary, Debt Fund Affiliates may not in the aggregate account for                     more than 49.9% of the amounts set forth in the calculation of Required Lenders                     and any amount in excess of 49.9% will be subject to the limitations set forth in                     this clause (A);                            (B)   the Sponsor and Non-Debt Fund Affiliates shall not receive                    information provided solely to Lenders by the Administrative Agent or any Lender                    and shall not be permitted to attend or participate in meetings attended solely by                    Lenders and the Administrative Agent and their advisors, other than the right to                    receive notices of Borrowings, notices of prepayments and other administrative                    notices in respect of its Loans or Commitments required to be delivered to Lenders                    pursuant to Section 2;                            (C)   at the time any Affiliated Lender is making purchases of Loans                    pursuant to a Dutch Auction it shall identify itself as an Affiliated Lender and shall                    enter into an Assignment and Assumption Agreement;                           (D)   with respect to a Dutch Auction, at the time of such Purchase                    Notice and Auction Purchase, no Affiliated Lender shall be required to make any                    representation that it is not in possession of material non-public information with                    respect to Holdings, the Borrower, their respective Subsidiaries or their respective                    securities; and                           (E)   the aggregate principal amount of all Loans which may be                    purchased by the Sponsor or any Non-Debt Fund Affiliate through Dutch Auctions                    or assigned to the Sponsor or any Non-Debt Fund Affiliate through open market                    purchases shall in no event exceed, as calculated at the time of the consummation                    of any aforementioned Purchases or assignments, 25% of the aggregate principal                    amount of the Loans then outstanding.                Notwithstanding anything to the contrary herein, this Section 10.6(b)(iv) shall supersede  any provisions in Section 2.12 to the contrary.                                         -160-        

 

                       (v)   Subject to acceptance and recording thereof pursuant to Section         10.6(b)(vii) below, from and after the effective date specified in each Assignment and Assumption         the Assignee thereunder shall be a party hereto and, to the extent of the interest assigned by such         Assignment and Assumption, have the rights and obligations of a Lender under this Agreement,         and the assigning Lender thereunder shall, to the extent of the interest assigned by such Assignment         and Assumption, be released from its obligations under this Agreement (and, in the case of an         Assignment and Assumption covering all of the assigning Lender’s rights and obligations under         this Agreement, such Lender shall cease to be a party hereto but shall continue to be entitled to the         benefits of Sections 2.13, 2.14, 2.15 and 10.5).  Any assignment or transfer by a Lender of rights         or obligations under this Agreement that does not comply with this Section 10.6 shall be treated for         purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations         if such transaction complies with the requirements of Section 10.6(c).                      (vi)  The Administrative Agent, acting for this purpose as an agent of the        Borrower, shall maintain at one of its offices a copy of each Assignment and Assumption delivered        to it and a register for the recordation of the names and addresses of the Lenders, and the        Commitments of, and principal amount of (and any stated interest on) the Loans owing to, each        Lender pursuant to the terms hereof from time to time (the “Register”).  The entries in the Register         shall be conclusive absent manifest error, and the Borrower, the Administrative Agent and the        Lenders shall treat each Person whose name is recorded in the Register pursuant to the terms hereof        as a Lender hereunder for all purposes of this Agreement, notwithstanding notice to the contrary.         The Register shall be available for inspection by the Borrower and any Lender, at any reasonable        time and from time to time upon reasonable prior notice.                      (vii) Upon its receipt of a duly completed Assignment and Assumption        executed by an assigning Lender and an Assignee, the Assignee’s completed administrative        questionnaire and applicable Forms (unless the Assignee shall already be a Lender hereunder),        together with (x) any processing and recordation fee and (y) any written consent to such assignment        required by Section 10.6(b), the Administrative Agent shall promptly accept such Assignment and         Assumption and record the information contained therein in the Register.  No assignment shall be         effective for purposes of this Agreement unless it has been recorded in the Register as provided in         this paragraph.                (c)   Any Lender may, without the consent of the Borrower or the Administrative  Agent, sell participations to one or more banks or other entities (other than a natural person, a Defaulting  Lender, Holdings or any Subsidiary of Holdings) (a “Participant”) in all or a portion of such Lender’s rights   and obligations under this Agreement (including all or a portion of its Commitments and the Loans owing   to it); provided that (A) such Lender’s obligations under this Agreement shall remain unchanged, (B) such   Lender shall remain solely responsible to the other parties hereto for the performance of such obligations   and (C) the Borrower, the Administrative Agent and the other Lenders shall continue to deal solely and   directly with such Lender in connection with such Lender’s rights and obligations under this Agreement.    Any agreement pursuant to which a Lender sells such a participation shall provide that such Lender shall   retain the sole right to enforce this Agreement and to approve any amendment, modification or waiver of   any provision of this Agreement; provided that such agreement may provide that such Lender will not,   without the consent of the Participant, agree to any amendment, modification or waiver that (1) requires,   subject to Section 10.1(b), the consent of each Lender directly affected thereby pursuant to clauses (A) and   (C) of Section 10.1(a) and (2) directly affects such Participant.  Subject to Section 10.6(c)(ii), the Borrower   agrees that each Participant shall be entitled to the benefits of Sections 2.13, 2.14 and 2.15 (subject to the   requirements of those sections and Sections 2.16 and 2.17, and it being understood that the documentation   required under Section 2.14(d), (e) and (g) shall be delivered solely to the participating Lender) to the same                                        -161-        

 

     extent as if it were a Lender and had acquired its interest by assignment pursuant to Section 10.6(b).  To   the extent permitted by law, each Participant also shall be entitled to the benefits of Section 10.6(b) as   though it were a Lender, provided such Participant shall be subject to Section 10.6(a) as though it were a   Lender.  Each Lender that sells a participation shall, acting solely for U.S. federal income tax purposes as   the agent of the Borrower, maintain a register on which it enters the name and address of each Participant   and the commitment of, and the principal amounts (and stated interest) of, each Participant’s interest in the   Loans or other obligations under the Loan Documents (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 any Loan Document) 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.  Unless otherwise required by the Internal Revenue Service (“IRS”), any disclosure   required by the foregoing sentence shall be made by the relevant Lender directly and solely to the IRS.  The   entries in the Participant Register shall be conclusive and binding absent manifest error, and such Lender   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 any notice to the contrary.                (f)   A Participant shall not be entitled to receive any greater payment under Section   2.13 or 2.14 than the applicable Lender would have been entitled to receive with respect to the participation   sold to such Participant, except to the extent such entitlement to a greater payment results from a Change   in Tax Law that occurs after the Participant acquired the applicable participation.                (g)   Any Lender may at any time pledge or assign a security interest in all or any portion   of its rights under this Agreement to secure obligations of such Lender, including any pledge or assignment   to secure obligations to a Federal Reserve Bank, and this Section shall not apply to any such pledge or   assignment of a security interest; provided that no such pledge or assignment of a security interest shall   release a Lender from any of its obligations hereunder or substitute any such pledgee or Assignee for such   Lender as a party hereto.                (h)   The Borrower, upon receipt of written notice from the relevant Lender, agrees to  issue Notes to any Lender requiring Notes to facilitate transactions of the type described in Section 10.6(d)   above.                (i)   Each Lender, upon execution and delivery hereof or upon succeeding to an interest   in Commitments or Loans, as the case may be, represents and warrants as of the Closing Date and as of the   effective date of the applicable Assignment and Assumption that it is a “qualified purchaser” for purposes   of Section 2(a)(51) of the Investment Company Act of 1940, as amended.                (j)   Each Lender, upon succeeding to an interest in Commitments or Loans, as the case   may be, represents and warrants as of the effective date of the applicable Assignment and Assumption that   it is an Eligible Assignee.                  10.7 [Reserved].                  10.8 Adjustments; Set-off                (a)   Except to the extent that this Agreement expressly provides for or permits  payments to be allocated or made to a particular Lender or to the Lenders under a particular Facility, if any  Lender (a “Benefited Lender”) shall receive any payment of all or part of the Obligations owing to it, or                                        -162-        

 

     receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events   or proceedings of the nature referred to in Section 8.1(f) or otherwise), in a greater proportion than any such   payment to or collateral received by any other Lender, if any, in respect of the Obligations owing to such   other Lender, such Benefited Lender shall purchase for cash from the other Lenders a participating interest   in such portion of the Obligations owing to each such other Lender, or shall provide such other Lenders   with the benefits of any such collateral, as shall be necessary to cause such Benefited Lender to share the   excess payment or benefits of such collateral ratably with each of the Lenders; provided, however, that if   all or any portion of such excess payment or benefits is thereafter recovered from such Benefited Lender,   such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such   recovery, but without interest.                (b)   In addition to any rights and remedies of the Lenders provided by law, each Lender  shall have the right, with the prior consent of the Administrative Agent, without prior notice to Holdings or  the Borrower or any other Loan Party, any such notice being expressly waived by Holdings and the  Borrower and each other Loan Party to the extent permitted by applicable law, upon the occurrence and  during the continuance of any Event of Default, to set off and appropriate and apply against the Obligations  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 any branch or agency  thereof to or for the credit or the account of Holdings or the Borrower or any such other Loan Party, as the  case may be.  Each Lender agrees promptly to notify the Borrower and the Administrative Agent after any  such setoff and application made by such Lender, provided that the failure to give such notice shall not   affect the validity of such setoff and application.                10.9  [Reserved].                  10.9 Counterparts; Electronic Execution.  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 or any document or instrument delivered in connection herewith by     facsimile transmission or electronic PDF shall be effective as delivery of a manually executed     counterpart of this Agreement or such other document or instrument, as applicable.  A set of the copies     of this Agreement signed by all the parties shall be lodged with the Company Borrower and the     Administrative Agent.  The words “execution,” “signed,” “signature,” and words of like import in any     Assignment and Assumption shall be deemed to include electronic signatures or the keeping of records     in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually     executed signature or the use of a paper-based recordkeeping system, as the case may be, to the extent     and as provided for in any applicable law, including the Federal Electronic Signatures in Global and     National Commerce Act, the New York State Electronic Signatures and Records Act, or any other     similar state laws based on the Uniform Electronic Transactions Act.                  10.10    Severability.  Any provision of this Agreement that is prohibited or     unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such     prohibition or unenforceability without invalidating the remaining provisions hereof, and any such     prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such     provision in any other jurisdiction.                  10.11    Integration.  This Agreement, the Engagement Letter, the Amendment No.     1 Engagement Letter, the Amendment No. 2 Engagement Letter, the Amendment No. 3 Engagement     Letter, the Amendment No. 4 Engagement Letter, the other Loan Documents and any separate letter                                         -163-        

 

       agreements with respect to fees payable to the Joint Lead Arrangers, the Joint Bookrunners, the     Amendment No. 1 Lead Arrangers and Bookrunners, the Amendment No. 2 Lead Arrangers and     Bookrunners, the Amendment No. 3 Lead Arrangers and Bookrunners, the Amendment No. 4 Lead     Arrangers and Bookrunners, the Amendment No. 4 Lead Arrangers and Bookrunners and the     Administrative Agent represent the entire agreement of Holdings, the Borrower, the Administrative     Agent and the Lenders with respect to the subject matter hereof and thereof, and there are no promises,     undertakings, representations or warranties by the Administrative Agent or any Lender relative to the     subject matter hereof not expressly set forth or referred to herein or in the other Loan Documents.                  10.12    Governing Law.  THIS AGREEMENT AND THE RIGHTS AND     OBLIGATIONS OF THE PARTIES UNDER THIS AGREEMENT SHALL BE GOVERNED BY,     AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF     NEW YORK WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES THAT WOULD     REQUIRE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION.                  10.13    Submission To Jurisdiction; Waivers.  Each party hereto hereby     irrevocably and unconditionally:                (a)   submits for itself and its property in any legal action or proceeding relating to this  Agreement and the other Loan Documents to which it is a party, or for recognition and enforcement of any  judgment in respect thereof, to the exclusive general jurisdiction of the courts of the State of New York, the  courts of the United States for the Southern District of New York, and appellate courts from any thereof, to  the extent such courts would have subject matter jurisdiction with respect thereto, and agrees that  notwithstanding the foregoing (x) 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 and  (y) legal actions or proceedings brought by the Secured Parties in connection with the exercise of rights and  remedies with respect to Collateral may be brought in other jurisdictions where such Collateral is located  or such rights or remedies may be exercised;               (b)   consents that any such action or proceeding may be brought in such courts and  waives any objection that it may now or hereafter have to the venue of any such action or proceeding in  any such court and waives any right to claim that such action or proceeding was brought in an inconvenient  court and agrees not to plead or claim the same;                (c)   agrees that service of process in any such action or proceeding may be effected by   mailing a copy thereof by registered or certified mail (or any substantially similar form of mail), postage   prepaid, to each party hereto, as the case may be at its address set forth in Section 10.2 or at such other   address of which the Administrative Agent shall have been notified pursuant thereto;                (d)   agrees that nothing herein shall affect the right to effect service of process in any  other manner permitted by law; and                (e)   waives, to the maximum extent not prohibited by law, any right it may have to  claim or recover in any legal action or proceeding arising out of, in connection with, or as a result of, this  Agreement or any agreement or instrument contemplated hereby, the Transactions, the Amendment No. 1  Transactions, the Amendment No. 2 Transactions, the Amendment No. 3 Transactions, the Amendment  No. 4 Transactions, or any Loan or the use of the proceeds thereof, any special, exemplary, punitive or  consequential damages against any Indemnitee.                                          -164-        

 

                   10.14    Acknowledgements.  The Borrower and each of the Guarantors hereby     acknowledge that:                (a)   it has been advised by counsel in the negotiation, execution and delivery of this  Agreement and the other Loan Documents;                (b)   neither the Administrative Agent nor any Lender has any fiduciary relationship  with or duty to Holdings, the Borrower or any Guarantor arising out of or in connection with this Agreement  or any of the other Loan Documents, and the relationship between Administrative Agent and Lenders, on  one hand, and Holdings, the Borrower and each Guarantor, 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 Lenders or among Holdings, the  Borrower or the Guarantors and the Lenders.                  10.15    Confidentiality.  Each of the Administrative Agent and each Lender agrees     to keep confidential all non-public information provided to it by any Loan Party, the Administrative     Agent or any Lender pursuant to or in connection with this Agreement that is not designated by the     provider thereof as public information or non-confidential; provided that nothing herein shall prevent     the Administrative Agent or any Lender from disclosing any such information (a) to the Administrative     Agent, the Joint Lead Arrangers, the Joint Bookrunners, the Amendment No. 1 Lead Arrangers and     Bookrunners, the Amendment No. 2 Lead Arrangers and Bookrunners, the Amendment No. 3 Lead     Arrangers and Bookrunners, the Amendment No. 4 Lead Arrangers and Bookrunners, the Amendment     No. 5 Lead Arrangers and Bookrunners or any other Lender or any Affiliate thereof, (b) subject to an     agreement to comply with provisions no less restrictive than this Section, to any actual or prospective     Transferee or any direct or indirect counterparty to any Swap Agreement (or any professional advisor to     such counterparty) (other than Disqualified Lenders), (c) to its employees, directors, trustees, agents,     attorneys, accountants and other professional advisors that have been advised of the provisions of this     Section and have been instructed to keep such information confidential, (d) upon the request or demand     of any Governmental Authority or any self-regulatory authority having or asserting jurisdiction over     such Person (including any Governmental Authority regulating any Lender or its Affiliates), (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) if requested or required to do so in connection with any     litigation or similar proceeding; provided that unless specifically prohibited by applicable law,     reasonable efforts shall be made to notify the Borrower of any such request prior to disclosure, (g) that     has been publicly disclosed other than as a result of a breach of this Section, (h) to 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; provided, such Person has been advised of the provisions of     this Section and instructed to keep such information confidential or (i) in connection with the exercise     of any remedy hereunder or under any other Loan Document.  In addition, 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     Administrative Agent and the Lenders in connection with the administration and management of this     Agreement, the other Loan Documents, the Commitments, and the extensions of credit hereunder.      Notwithstanding anything herein to the contrary, any party to this Agreement (and any employee,     representative, or other agent of any party to this Agreement) may disclose to any and all persons,     without limitation of any kind, the tax treatment and tax structure of the transactions contemplated by     this Agreement and all materials of any kind (including opinions or other tax analyses) that are provided     to it relating to such tax treatment and tax structure.  However, any such information relating to the tax                                        -165-        

 

       treatment or tax structure is required to be kept confidential to the extent necessary to comply with any     applicable federal or state securities laws.                  10.16    Waivers Of Jury Trial.  EACH OF HOLDINGS, THE BORROWER, THE     GUARANTORS, THE ADMINISTRATIVE AGENT AND THE LENDERS HEREBY     IRREVOCABLY AND UNCONDITIONALLY WAIVE TRIAL BY JURY IN ANY LEGAL ACTION     OR PROCEEDING RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT     AND FOR ANY COUNTERCLAIM THEREIN.                  10.17    USA Patriot Act Notification.  The following notification is provided to     the Borrower and each Guarantor pursuant to Section 326 of the Patriot Act:    IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT.    To help the government fight the funding of terrorism and money laundering activities, Federal law requires   all financial institutions to obtain, verify, and record information that identifies each Person or entity that   opens an account, including any deposit account, treasury management account, loan, other extension of   credit, or other financial services product.    What this means for the Borrower or any Guarantor:  When the Borrower or any Guarantor opens an   account, if such Borrower or Guarantor is an individual, the Administrative Agent and the Lenders will ask   for the Borrower’s name, residential address, tax identification number, date of birth, and other information   that will allow the Administrative Agent and the Lenders to identify the Borrower, and, if the Borrower or   such Guarantor is not an individual, the Administrative Agent and the Lenders will ask for the Borrower’s   name, tax identification number, business address, and other information that will allow the Administrative   Agent and the Lenders to identify the Borrower.  The Administrative Agent and the Lenders may also ask,   if the Borrower or such Guarantor is an individual, to see the Borrower’s driver’s license or other identifying   documents, and, if the Borrower or Guarantor is not an individual, to see the Borrower’s legal organizational   documents or other identifying documents.                  10.18    Maximum Amount.                (a)   It is the intention of the Borrower and the Lenders to conform strictly to the usury  and similar laws relating to interest from time to time in force, and all agreements between the Loan Parties  and their respective Subsidiaries and the Lenders, whether now existing or hereafter arising and whether  oral or written, are hereby expressly limited so that in no contingency or event whatsoever, whether by  acceleration of maturity hereof or otherwise, shall the amount paid or agreed to be paid in the aggregate to  the Lenders as interest (whether or not designated as interest, and including any amount otherwise  designated but deemed to constitute interest by a court of competent jurisdiction) hereunder or under the  other Loan Documents or in any other agreement given to secure the Indebtedness evidenced hereby or  other Obligations of the Borrower, or in any other document evidencing, securing or pertaining to the  Indebtedness evidenced hereby, exceed the maximum amount permissible under applicable usury or such  other laws (the “Maximum Amount”).  If under any circumstances whatsoever fulfillment of any provision   hereof, or any of the other Loan Documents, at the time performance of such provision shall be due, shall   involve exceeding the Maximum Amount, then, ipso facto, the obligation to be fulfilled shall be reduced to   the Maximum Amount.  For the purposes of calculating the actual amount of interest paid and/or payable   hereunder in respect of laws pertaining to usury or such other laws, all sums paid or agreed to be paid to   the holder hereof for the use, forbearance or detention of the Indebtedness of the Borrower evidenced   hereby, outstanding from time to time shall, to the extent permitted by Requirement of Law, be amortized,   pro-rated, allocated and spread from the date of disbursement of the proceeds of the Notes until payment in   full of all of such Indebtedness, so that the actual rate of interest on account of such Indebtedness is uniform                                        -166-        

 

     through the term hereof.  The terms and provisions of this Section 10.18(a) shall control and supersede   every other provision of all agreements between the Borrower or any endorser of the Notes and the Lenders.                (b)   If under any circumstances any Lender shall ever receive an amount which would  exceed the Maximum Amount, such amount shall be deemed a payment in reduction of the principal amount  of the Loans and shall be treated as a voluntary prepayment under Section 2.10 and shall be so applied in   accordance with Section 2.12 or if such excessive interest exceeds the unpaid balance of the Loans and any   other Indebtedness of the Borrower in favor of such Lender, the excess shall be deemed to have been a   payment made by mistake and shall be refunded to the Borrower.                  10.19    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 10.18 are for the     sole benefit of the Lenders and shall not afford any right to, or constitute a defense available to, any     Loan Party.                  10.20    No Fiduciary Duty.  Each of the Administrative Agent, the Joint     Bookrunners, the Joint Lead Arrangers, the Amendment No. 1 Lead Arrangers and Bookrunners, the     Amendment No. 2 Lead Arrangers and Bookrunners, the Amendment No. 3 Lead Arrangers and     Bookrunners, the Amendment No. 4 Lead Arrangers and Bookrunners, the Amendment No. 5 Lead     Arrangers and Bookrunners each Lender and their Affiliates (collectively, solely for purposes of this     paragraph, the “Lenders”), may have economic interests that conflict with those of the Loan Parties,     their stockholders and/or their Affiliates.  Each Loan Party agrees that nothing in the Loan Documents     or otherwise will be deemed to create an advisory, fiduciary or agency relationship or fiduciary or other     implied duty between any Lender, on the one hand, and such Loan Party, its stockholders or its Affiliates,     on the other, except as otherwise explicitly provided herein.  The Loan Parties acknowledge and agree     that (i) the transactions contemplated by the Loan Documents (including the exercise of rights and     remedies hereunder and thereunder) are arm’s-length commercial transactions between the Lenders, on     the one hand, and the Loan Parties, on the other, and (ii) in connection therewith and with the process     leading thereto, (x) no Lender has assumed an advisory or fiduciary responsibility in favor of any Loan     Party, its stockholders or its Affiliates with respect to the transactions contemplated hereby (or the     exercise of rights or remedies with respect thereto) or the process leading thereto (irrespective of whether     any Lender has advised, is currently advising or will advise any Loan Party, its stockholders or its     Affiliates on other matters) or any other obligation to any Loan Party except the obligations expressly     set forth in the Loan Documents and (y) each Lender is acting solely as principal and not as the agent or     fiduciary of any Loan Party, its management, stockholders, creditors or any other Person, except as     otherwise explicitly provided herein.  Each Loan Party acknowledges and agrees that it has consulted its     own legal and financial advisors to the extent it deemed appropriate and that it is responsible for making     its own independent judgment with respect to such transactions and the process leading thereto.  Each     Loan Party agrees that it will not claim that any Lender has rendered advisory services of any nature or     respect, or owes a fiduciary or similar duty to such Loan Party, in connection with such transaction or     the process leading thereto.                  10.21    Acknowledgement 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                                         -167-        

 

       liability of any Lender that is an EEA Financial Institution arising under any Loan Document,     to the extent such liability is unsecured, may be subject to the write-down and conversion     powers of an EEA Resolution Authority and agrees and consents to, and acknowledges and     agrees to be bound by:                (a)   the application of any Write-Down and Conversion Powers by an EEA   Resolution Authority to any such liabilities arising hereunder which may be payable to it by any 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.                  10.22    Certain ERISA Matters.                (a)   Each Lender (x) represents and warrants, as of the date such Person became a  Lender party hereto, to, and (y) covenants, from the date such Person became a Lender party hereto to the  date such Person ceases being a Lender party hereto, for the benefit of, the Administrative Agent, each of  the Amendment No. 4 Lead Arrangers and Bookrunners and their respective Affiliates, and not, for the  avoidance of doubt, to or for the benefit of the Company Borrower or any other Loan Party, that at least  one of the following is and will be true:                       (i)   such Lender is not using “plan assets” (within the meaning of 29 CFR §        2510.3-101, as modified by Section 3(42) of ERISA) of one or more Benefit Plans in connection        with the Loans,                      (ii) the transaction exemption set forth in one or more PTEs, such as PTE 84-       14 (a class exemption for certain transactions determined by independent qualified professional        asset managers), PTE 95-60 (a class exemption for certain transactions involving insurance        company general accounts), PTE 90-1 (a class exemption for certain transactions involving        insurance company pooled separate accounts), PTE 91-38 (a class exemption for certain        transactions involving bank collective investment funds) or PTE 96-23 (a class exemption for        certain transactions determined by in-house asset managers), is applicable with respect to such        Lender’s entrance into, participation in, administration of and performance of the Loans and this        Agreement,                      (iii) (A) such Lender is an investment fund managed by a “Qualified        Professional Asset Manager” (within the meaning of Part VI of PTE 84-14), (B) such Qualified        Professional Asset Manager made the investment decision on behalf of such Lender to enter into,        participate in, administer and perform the Loans and this Agreement, (C) the entrance into,        participation in, administration of and performance of the Loans and this Agreement satisfies the                                         -168-        

 

           requirements of sub-sections (b) through (g) of Part I of PTE 84-14 and (D) to the best knowledge         of such Lender, the requirements of subsection (a) of Part I of PTE 84-14 are satisfied with respect        to such Lender’s entrance into, participation in, administration of and performance of the Loans        and this Agreement, or                     (iv)  such other representation, warranty and covenant as may be agreed in        writing between the Administrative Agent, in its sole discretion, and such Lender.               (b)   In addition, unless sub-clause (i) in the immediately preceding clause (a) is true  with respect to a Lender or such Lender has not provided another representation, warranty and covenant as  provided in sub-clause (iv) in the immediately preceding clause (a), such Lender further (x) represents and  warrants, as of the date such Person became a Lender party hereto, to, and (y) covenants, from the date such  Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for the  benefit of, the Administrative Agent, each of the Amendment No. 4 Lead Arrangers and Bookrunners and  their respective Affiliates, and not, for the avoidance of doubt, to or for the benefit of the Borrower or any  other Loan Party, that:                     (i)   none of the Administrative Agent, any Amendment No. 4 Lead Arranger        and Bookrunner or any of their respective Affiliates is a fiduciary with respect to the assets of such        Lender (including in connection with the reservation or exercise of any rights by the Administrative        Agent under this Agreement, any Loan Document or any documents related to hereto or thereto),                     (ii)  the Person making the investment decision on behalf of such Lender with        respect to the entrance into, participation in, administration of and performance of the Loans and        this Agreement is independent (within the meaning of 29 CFR § 2510.3-21) and is a bank, an        insurance carrier, an investment adviser, a broker-dealer or other person that holds, or has under        management or control, total assets of at least $50 million, in each case as described in 29 CFR §        2510.3-21(c)(1)(i)(A)-(E),                     (iii) the Person making the investment decision on behalf of such Lender with        respect to the entrance into, participation in, administration of and performance of the Loans and        this Agreement is capable of evaluating investment risks independently, both in general and with        regard to particular transactions and investment strategies (including in respect of the Obligations),                     (iv)  the Person making the investment decision on behalf of such Lender with        respect to the entrance into, participation in, administration of and performance of the Loans and        this Agreement is a fiduciary under ERISA or the Code, or both, with respect to the Loans and this        Agreement and is responsible for exercising independent judgment in evaluating the transactions        hereunder, and                     (v)   no fee or other compensation is being paid directly to the Administrative        Agent, any Amendment No. 4 Lead Arranger and Bookrunner or any their respective Affiliates for        investment advice (as opposed to other services) in connection with the Loans or this Agreement.               (c)   The Administrative Agent and each Amendment No. 4 Lead Arranger and  Bookrunner hereby informs the Lenders that each such Person is not undertaking to provide impartial  investment advice, or to give advice in a fiduciary capacity, in connection with the transactions  contemplated hereby, and that such Person has a financial interest in the transactions contemplated hereby  in that such Person or an Affiliate thereof (i) may receive interest or other payments with respect to the  Loans and this Agreement, (ii) may recognize a gain if it extended the Loans for an amount less than the                                        -169-        

 

   amount being paid for an interest in the Loans by such Lender or (iii) may receive fees or other payments  in connection with the transactions contemplated hereby, the Loan Documents or otherwise, including  structuring fees, commitment fees, arrangement fees, facility fees, upfront fees, underwriting fees, ticking  fees, agency fees, administrative agent or collateral agent fees, utilization fees, minimum usage fees, letter  of credit fees, fronting fees, deal-away or alternate transaction fees, amendment fees, processing fees, term  out premiums, banker’s acceptance fees, breakage or other early termination fees or fees similar to the  foregoing.                                [Signature pages follow.]                                           -170-      

 

                 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly  executed and delivered by their proper and duly authorized officers as of the day and year first above  written.      COMPANY BORROWER:                    JELD-WEN, INC.                                                                                                                                                                                                By:___________________________________                                        Name:                                        Title:                                            GUARANTORS:                          JELD-WEN HOLDING, INC.                                                                                                                                                                                                By: ___________________________________                                        Name:                                        Title:                                                                                                                                                                                                                                                                                                                                                                                                    [Signature Page to Credit Agreement]        

 

                          BANK OF AMERICA, N. A.,            as Administrative Agent and a Lender                                    By:                                                  Name:            Title:                                                                                        [Signature Page to Credit Agreement]

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