Document:

EX-4.1

 Exhibit 4.1 
  

 
  

BUILDERS FIRSTSOURCE, INC., 
 the
GUARANTORS party hereto from time to time 
 AND 

WILMINGTON TRUST, NATIONAL ASSOCIATION, 

as Trustee 
 6.375% Senior Notes
due 2032 
  
  

INDENTURE 
 Dated as of
June 15, 2022 
  
  

 
  

 

 Table of Contents 

 

							
	 	 	 	  	Page	 
	 ARTICLE I DEFINITIONS AND INCORPORATION BY REFERENCE
	  	 	1	 
			
	 SECTION 1.1.
	 	Definitions	  	 	1	 
	 SECTION 1.2.
	 	Other Definitions	  	 	40	 
	 SECTION 1.3.
	 	[Reserved]	  	 	43	 
	 SECTION 1.4.
	 	Rules of Construction	  	 	43	 
	 SECTION 1.5.
	 	Certain Compliance Calculations	  	 	43	 
		
	 ARTICLE II THE NOTES
	  	 	45	 
			
	 SECTION 2.1.
	 	Form, Dating and Terms	  	 	45	 
	 SECTION 2.2.
	 	Execution and Authentication	  	 	50	 
	 SECTION 2.3.
	 	Registrar and Paying Agent	  	 	51	 
	 SECTION 2.4.
	 	Paying Agent to Hold Money in Trust	  	 	51	 
	 SECTION 2.5.
	 	Holder Lists	  	 	51	 
	 SECTION 2.6.
	 	Transfer and Exchange	  	 	51	 
	 SECTION 2.7.
	 	[Reserved]	  	 	54	 
	 SECTION 2.8.
	 	[Reserved]	  	 	54	 
	 SECTION 2.9.
	 	Form of Certificate to be Delivered in Connection with Transfers Pursuant to Regulation S	  	 	55	 
	 SECTION 2.10.
	 	[Reserved]	  	 	56	 
	 SECTION 2.11.
	 	Mutilated, Destroyed, Lost or Stolen Notes	  	 	56	 
	 SECTION 2.12.
	 	Outstanding Notes	  	 	56	 
	 SECTION 2.13.
	 	Temporary Notes	  	 	57	 
	 SECTION 2.14.
	 	Cancellation	  	 	57	 
	 SECTION 2.15.
	 	Payment of Interest; Defaulted Interest	  	 	57	 
	 SECTION 2.16.
	 	CUSIP and ISIN Numbers	  	 	58	 
		
	 ARTICLE III COVENANTS
	  	 	58	 
			
	 SECTION 3.1.
	 	Payment of Notes	  	 	58	 
	 SECTION 3.2.
	 	Limitation on Indebtedness	  	 	59	 
	 SECTION 3.3.
	 	Limitation on Restricted Payments	  	 	65	 
	 SECTION 3.4.
	 	Limitation on Restrictions on Distributions from Restricted Subsidiaries	  	 	70	 
	 SECTION 3.5.
	 	Limitation on Sales of Assets and Subsidiary Stock	  	 	72	 
	 SECTION 3.6.
	 	Limitation on Liens	  	 	75	 
	 SECTION 3.7.
	 	Limitation on Guarantees	  	 	76	 
	 SECTION 3.8.
	 	Limitation on Affiliate Transactions	  	 	76	 
	 SECTION 3.9.
	 	Change of Control	  	 	79	 
	 SECTION 3.10.
	 	Reports	  	 	81	 
	 SECTION 3.11.
	 	[Reserved]	  	 	84	 
	 SECTION 3.12.
	 	Maintenance of Office or Agency	  	 	84	 
	 SECTION 3.13.
	 	Corporate Existence	  	 	84	 
	 SECTION 3.14.
	 	Payment of Taxes	  	 	84	 
	 SECTION 3.15.
	 	[Reserved]	  	 	84	 
	 SECTION 3.16.
	 	Compliance Certificate	  	 	84	 
	 SECTION 3.17.
	 	[Reserved]	  	 	84	 
	 SECTION 3.18.
	 	[Reserved]	  	 	84	 
	 SECTION 3.19.
	 	Statement by Officers as to Default	  	 	85	 
	 SECTION 3.20.
	 	Designation of Restricted and Unrestricted Subsidiaries	  	 	85	 
	 SECTION 3.21.
	 	Suspension of Certain Covenants on Achievement of Investment Grade Status	  	 	85	 

  
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	 	 	 	  	Page	 
	 ARTICLE IV SUCCESSOR COMPANY; SUCCESSOR PERSON
	  	 	86	 
			
	 SECTION 4.1.
	 	Merger, Amalgamation and Consolidation	  	 	86	 
		
	 ARTICLE V REDEMPTION OF SECURITIES
	  	 	87	 
			
	 SECTION 5.1.
	 	Notices to Trustee	  	 	87	 
	 SECTION 5.2.
	 	Selection of Notes to Be Redeemed or Purchased	  	 	87	 
	 SECTION 5.3.
	 	Notice of Redemption	  	 	88	 
	 SECTION 5.4.
	 	[Reserved]	  	 	89	 
	 SECTION 5.5.
	 	Deposit of Redemption or Purchase Price	  	 	89	 
	 SECTION 5.6.
	 	Notes Redeemed or Purchased in Part	  	 	89	 
	 SECTION 5.7.
	 	Optional Redemption	  	 	89	 
	 SECTION 5.8.
	 	Mandatory Redemption	  	 	90	 
		
	 ARTICLE VI DEFAULTS AND REMEDIES
	  	 	91	 
			
	 SECTION 6.1.
	 	Events of Default	  	 	91	 
	 SECTION 6.2.
	 	Acceleration	  	 	94	 
	 SECTION 6.3.
	 	Other Remedies	  	 	94	 
	 SECTION 6.4.
	 	Waiver of Past Defaults	  	 	94	 
	 SECTION 6.5.
	 	Control by Majority	  	 	95	 
	 SECTION 6.6.
	 	Limitation on Suits	  	 	95	 
	 SECTION 6.7.
	 	Rights of Holders to Receive Payment	  	 	95	 
	 SECTION 6.8.
	 	Collection Suit by Trustee	  	 	95	 
	 SECTION 6.9.
	 	Trustee May File Proofs of Claim	  	 	95	 
	 SECTION 6.10.
	 	Priorities	  	 	96	 
	 SECTION 6.11.
	 	Undertaking for Costs	  	 	96	 
		
	 ARTICLE VII TRUSTEE
	  	 	96	 
			
	 SECTION 7.1.
	 	Duties of Trustee	  	 	96	 
	 SECTION 7.2.
	 	Rights of Trustee	  	 	97	 
	 SECTION 7.3.
	 	Individual Rights of Trustee	  	 	99	 
	 SECTION 7.4.
	 	Trustee’s Disclaimer	  	 	99	 
	 SECTION 7.5.
	 	Notice of Defaults	  	 	99	 
	 SECTION 7.6.
	 	[Reserved]	  	 	99	 
	 SECTION 7.7.
	 	Compensation and Indemnity	  	 	99	 
	 SECTION 7.8.
	 	Replacement of Trustee	  	 	100	 
	 SECTION 7.9.
	 	Successor Trustee by Merger	  	 	100	 
	 SECTION 7.10.
	 	Eligibility; Disqualification	  	 	101	 
	 SECTION 7.11.
	 	[Reserved]	  	 	101	 
	 SECTION 7.12.
	 	Trustee’s Application for Instruction from the Company	  	 	101	 
		
	 ARTICLE VIII LEGAL DEFEASANCE AND COVENANT DEFEASANCE
	  	 	101	 
			
	 SECTION 8.1.
	 	Option to Effect Legal Defeasance or Covenant Defeasance; Defeasance	  	 	101	 
	 SECTION 8.2.
	 	Legal Defeasance and Discharge	  	 	101	 
	 SECTION 8.3.
	 	Covenant Defeasance	  	 	101	 
	 SECTION 8.4.
	 	Conditions to Legal or Covenant Defeasance	  	 	102	 
	 SECTION 8.5.
	 	Deposited Money and U.S. Government Obligations to be Held in Trust; Other Miscellaneous Provisions	  	 	103	 
	 SECTION 8.6.
	 	Repayment to the Company	  	 	103	 
	 SECTION 8.7.
	 	Reinstatement	  	 	104	 

  
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	 	 	 	  	Page	 
	 ARTICLE IX AMENDMENTS
	  	 	104	 
			
	 SECTION 9.1.
	 	Without Consent of Holders	  	 	104	 
	 SECTION 9.2.
	 	With Consent of Holders	  	 	105	 
	 SECTION 9.3.
	 	Compliance with this Indenture	  	 	106	 
	 SECTION 9.4.
	 	Revocation and Effect of Consents and Waivers	  	 	106	 
	 SECTION 9.5.
	 	Notation on or Exchange of Notes	  	 	106	 
	 SECTION 9.6.
	 	Trustee to Sign Amendments	  	 	107	 
		
	 ARTICLE X GUARANTEE
	  	 	107	 
			
	 SECTION 10.1.
	 	Guarantee	  	 	107	 
	 SECTION 10.2.
	 	Limitation on Liability; Termination, Release and Discharge.	  	 	108	 
	 SECTION 10.3.
	 	Right of Contribution	  	 	109	 
	 SECTION 10.4.
	 	No Subrogation	  	 	109	 
		
	 ARTICLE XI SATISFACTION AND DISCHARGE
	  	 	109	 
			
	 SECTION 11.1.
	 	Satisfaction and Discharge	  	 	109	 
	 SECTION 11.2.
	 	Application of Trust Money	  	 	110	 
		
	 ARTICLE XII MISCELLANEOUS
	  	 	111	 
			
	 SECTION 12.1.
	 	Notices	  	 	111	 
	 SECTION 12.2.
	 	Certificate and Opinion as to Conditions Precedent	  	 	112	 
	 SECTION 12.3.
	 	Statements Required in Certificate or Opinion	  	 	112	 
	 SECTION 12.4.
	 	When Notes Disregarded	  	 	112	 
	 SECTION 12.5.
	 	Rules by Trustee, Paying Agent and Registrar	  	 	112	 
	 SECTION 12.6.
	 	Legal Holidays	  	 	112	 
	 SECTION 12.7.
	 	Governing Law	  	 	113	 
	 SECTION 12.8.
	 	Jurisdiction	  	 	113	 
	 SECTION 12.9.
	 	Waivers of Jury Trial	  	 	113	 
	 SECTION 12.10.
	 	USA PATRIOT Act	  	 	113	 
	 SECTION 12.11.
	 	No Recourse Against Others	  	 	113	 
	 SECTION 12.12.
	 	Successors	  	 	113	 
	 SECTION 12.13.
	 	Multiple Originals	  	 	113	 
	 SECTION 12.14.
	 	Table of Contents; Headings	  	 	113	 
	 SECTION 12.15.
	 	Force Majeure	  	 	114	 
	 SECTION 12.16.
	 	Severability	  	 	114	 

  

			
	EXHIBIT A	  	Form of Global Restricted Note
	EXHIBIT B	  	Form of Supplemental Indenture

  

  
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 INDENTURE dated as of June 15, 2022, among BUILDERS FIRSTSOURCE, INC. (the
“Company”), the Guarantors party hereto from time to time and WILMINGTON TRUST, NATIONAL ASSOCIATION, a national banking association, as trustee (the “Trustee”). 

W I T N E S S E T H 

WHEREAS, the Company has duly authorized the execution and delivery of this Indenture to provide for the issuance of (i) its 6.375%
Senior Notes due 2032 issued on the date hereof (the “Initial Notes”) and (ii) any additional Notes (“Additional Notes” and, together with the Initial Notes, the “Notes”) that may be issued
after the Issue Date. 
 WHEREAS, the Guarantors have duly authorized the execution and delivery of this Indenture; 

WHEREAS, all things necessary (i) to make the Notes, when executed and duly issued by the Company and authenticated and delivered
hereunder, the valid obligations of the Company and the Guarantors, and (ii) to make this Indenture a valid agreement of the Company and the Guarantors have been done; and 

NOW, THEREFORE, in consideration of the premises and the purchase of the Notes by the Holders thereof, it is mutually covenanted and agreed,
for the equal and proportionate benefit of all Holders, as follows: 
 ARTICLE I 

DEFINITIONS AND INCORPORATION BY REFERENCE 

SECTION 1.1. Definitions. 

“2024 Notes Issue Date” means August 22, 2016. 

“2027 Notes” means any of the Company’s 6.750% Senior Secured Notes due 2027. 

“2027 Notes Indenture” means the Indenture, dated May 30, 2019, by and among the Company, the guarantors party thereto
and Wilmington Trust, National Association, as trustee and notes collateral agent, as supplemented by the First Supplemental Indenture, dated July 25, 2019, the Second Supplemental Indenture, dated April 24, 2020, the Third Supplemental
Indenture, dated April 16, 2021, and the Fourth Supplemental Indenture, dated January 1, 2022. 
 “2030 Notes”
means any of the Company’s 5.000% Senior Notes due 2030. 
 “2030 Notes Indenture” means the Indenture, dated
February 11, 2020, by and among the Company, the guarantors party thereto and Wilmington Trust, National Association, as trustee, as supplemented by the First Supplemental Indenture, dated April 16, 2021, and the Second Supplemental
Indenture, dated January 1, 2022. 
 “2032 Notes” means any of the Company’s 4.250% Senior Notes due 2032. 

“2032 Notes Indenture” means the Indenture, dated July 23, 2021, by and among the Company, the guarantors party thereto
and Wilmington Trust, National Association, as trustee, as supplemented by the First Supplemental Indenture, dated January 1, 2022, and the Second Supplemental Indenture, dated January 21, 2022. 

“ABL” means the Amended and Restated ABL Credit Agreement, dated July 31, 2015, among the Company, the Subsidiaries of
the Company party thereto, Truist Bank (as successor by merger to SunTrust Bank), as administrative and collateral agent and the lenders party thereto from time to time, as amended by Amendment No. 1, dated March 22, 2017, Amendment
No. 2, dated April 24, 2019, Amendment No. 3, dated January 29, 2021, Amendment No. 4, dated December 17, 2021, and Amendment No. 5, dated February 4, 2022, and as further amended, modified, supplemented,
substituted, replaced, restated or refinanced, in whole or in part, from time to time (whether with the 

 
original administrative agent and lenders or other agents and lenders or otherwise and whether provided under the original ABL or another credit agreement, indenture, instrument, other document
or otherwise). For the avoidance of doubt, an ABL is not limited to a single agreement, indenture, instrument or other document and multiple agreements, indentures, instruments or other documents may constitute the ABL. 

“Acquired Indebtedness” means with respect to any Person (x) Indebtedness of any other Person or any of its Subsidiaries
existing at the time such other Person becomes a Restricted Subsidiary or merges or amalgamates with or into or consolidates or otherwise combines with the Company or any Restricted Subsidiary and (y) Indebtedness secured by a Lien encumbering
any asset acquired by such Person. Acquired Indebtedness shall be deemed to have been Incurred, with respect to clause (x) of the preceding sentence, on the date such Person becomes a Restricted Subsidiary or on the date of the relevant merger,
amalgamation, consolidation, acquisition or other combination. 
 “Acquisition” means the transactions contemplated by the
Securities Purchase Agreement and the BMC Merger Agreement. 
 “Acquisition Transaction Expenses” means any fees or
expenses incurred or paid by the Company or any Restricted Subsidiary in connection with the Acquisition Transactions, including, without limitation, any fees, costs and expenses associated with settling any claims or actions arising from a
dissenting stockholder exercising its appraisal rights in respect of the Acquisition. 
 “Acquisition Transactions” means
the transactions contemplated by the Securities Purchase Agreement and the transactions contemplated by the BMC Merger Agreement and, in each case, other related transactions. 

“Additional Assets” means: 

(1) any property or assets (other than Capital Stock) used or to be used by the Company, a Restricted Subsidiary or otherwise
useful in a Similar Business (it being understood that capital expenditures on property or assets already used in a Similar Business or to replace any property or assets that are the subject of such Asset Disposition shall be deemed an investment in
Additional Assets); 
 (2) the Capital Stock of a Person that is engaged in a Similar Business and becomes a Restricted
Subsidiary as a result of the acquisition of such Capital Stock by the Company or a Restricted Subsidiary; or 
 (3) Capital
Stock constituting a minority interest in any Person that at such time is a Restricted Subsidiary. 
 “Additional Notes”
has the meaning ascribed to it in the second introductory paragraph of this Indenture. 
 “Affiliate” of any specified
Person means any other Person, directly or indirectly, controlling or controlled by or under direct or indirect common control with such specified Person. For the purposes of this definition, “control” when used with respect to any Person
means the power to direct the management and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling” and “controlled” have
meanings correlative to the foregoing. 
 “Alternative Currency” means any currency (other than U.S. dollars) that is a
lawful currency (other than U.S. dollars) that is readily available and freely transferable and convertible into U.S. dollars (as determined in good faith by the Company). 

“Applicable Premium” means the greater of (A) 1.0% of the principal amount of such Note and (B) on any Redemption
Date, the excess (to the extent positive) of: 
 (a) the present value at such Redemption Date of (i) the redemption
price of such Note at June 15, 2027 (such redemption price (expressed in percentage of principal amount) being set forth in the table under Section 5.7(d) (excluding accrued but unpaid interest, if any)), plus
(ii) all required interest payments due on such Note to and including such date set forth in clause (i) (excluding accrued but unpaid interest, if any), computed upon the Redemption Date using a discount rate equal to the Applicable
Treasury Rate at such Redemption Date plus 50 basis points; over 

  
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 (b) the outstanding principal amount of such Note; 

in each case, as calculated by the Company or on behalf of the Company by such Person as the Company shall designate. The Trustee shall have no duty to
calculate or verify the calculations of the Applicable Premium. 
 “Applicable Treasury Rate” means the weekly average
rounded to the nearest 1/100th of a percentage point (for the most recently completed week for which such information is available as of the date that is two Business Days prior to the Redemption Date) of the yield to maturity at the time of
computation of United States Treasury securities with a constant maturity (as compiled and published in the Federal Reserve Statistical Release H.15 with respect to each applicable day during such week (or, if such statistical release is not so
published or available, any publicly available source of similar market data selected by the Company in good faith)) most nearly equal to the period from the Redemption Date to June 15, 2027; provided, however, that if the period
from the Redemption Date to June 15, 2027 is not equal to the constant maturity of a United States Treasury security for which such yield is given, the Applicable Treasury Rate shall be obtained by linear interpolation (calculated to the
nearest one-twelfth of a year) from the weekly average yields of United States Treasury securities for which such yields are given, except that if the period from the Redemption Date to such applicable date is
less than one year, the weekly average yield on actually traded United States Treasury securities adjusted to a constant maturity of one year shall be used. 

“Asset Disposition” means: 

(a) the voluntary 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 and Leaseback Transaction) of the Company or any of its Restricted Subsidiaries (in each case other than Capital Stock of the Company) (each referred to in this definition as a
“disposition”); or 
 (b) the issuance or sale of Capital Stock of any Restricted Subsidiary (other than Preferred
Stock or Disqualified Stock of Restricted Subsidiaries issued in compliance with Section 3.2 or directors’ qualifying shares and shares issued to foreign nationals as required under applicable law), whether in a single
transaction or a series of related transactions; 
 in each case, other than: 

(1) a disposition by the Company or a Restricted Subsidiary to the Company or by the Company or a Restricted Subsidiary; 

(2) a disposition of cash, Cash Equivalents or Investment Grade Securities; 

(3) a disposition of inventory or other assets (including Settlement Assets) in the ordinary course of business or consistent
with past practice or held for sale or no longer used in the ordinary course of business; 
 (4) a disposition of obsolete,
worn out, uneconomic, damaged or surplus property, equipment or other assets or property, equipment or other assets that are no longer economically practical or commercially desirable to maintain or used or useful in the business of the Company and
its Restricted Subsidiaries whether now or hereafter owned or leased or acquired in connection with an acquisition or used or useful in the conduct of the business of the Company and its Restricted Subsidiaries (including by ceasing to enforce,
allowing the lapse, abandonment or invalidation of or discontinuing the use or maintenance of or putting into the public domain any intellectual property that is, in the reasonable judgment of the Company or the Restricted Subsidiaries, no longer
used or useful, or economically practicable to maintain, or in respect of which the Company or any Restricted Subsidiary determines in its reasonable business judgment that such action or inaction is desirable); 

  
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 (5) transactions permitted under Section 4.1 or a
transaction that constitutes a Change of Control; 
 (6) an issuance of Capital Stock by a Restricted Subsidiary to the
Company or to another Restricted Subsidiary or as part of or pursuant to an equity incentive or compensation plan approved by the Board of Directors; 

(7) any dispositions of Capital Stock, properties or assets in a single transaction or series of related transactions with a
fair market value (as determined in good faith by the Company) of less than the greater of $540.0 million and 15.0% of LTM EBITDA; 

(8) any Restricted Payment that is permitted to be made, and is made, under Section 3.3 and the
making of any Permitted Payment or Permitted Investment or, solely for purposes of Section 3.5(a)(3), asset sales, the proceeds of which are used to make such Restricted Payments or Permitted Investments; 

(9) dispositions in connection with Permitted Liens; 

(10) dispositions of receivables in connection with the compromise, settlement or collection thereof and exclusive of factoring
or similar arrangements; 
 (11) conveyances, sales, transfers, licenses,
sub-licenses, cross-licenses or other dispositions of intellectual property, software or other general intangibles and licenses, sub-licenses, cross-licenses, leases or
subleases of other property, in each case, in the ordinary course of business or consistent with past practice or pursuant to a research or development agreement in which the counterparty to such agreement receives a license in the intellectual
property or software that results from such agreement; 
 (12) the lease, assignment, license,
sub-lease or cross-license of any real or personal property in the ordinary course of business; 

(13) foreclosure, condemnation, expropriation, forced disposition or any similar action with respect to any property or other
assets; 
 (14) the sale, discount or other disposition (with or without recourse, and on customary or commercially
reasonable terms and for credit management purposes) of inventory, accounts receivable or notes receivable, or the conversion or exchange of accounts receivable for notes receivable; 

(15) any issuance or sale of Capital Stock in, or Indebtedness or other securities of, an Unrestricted Subsidiary or any other
disposition of Capital Stock, Indebtedness or other securities of an Unrestricted Subsidiary or an Immaterial Subsidiary; 

(16) any disposition of Capital Stock of a Restricted Subsidiary pursuant to an agreement or other obligation with or to a
Person (other than the Company or a Restricted Subsidiary) from whom such Restricted Subsidiary was acquired, or from whom such Restricted Subsidiary acquired its business and assets (having been newly formed in connection with such acquisition),
made as part of such acquisition and in each case comprising all or a portion of the consideration in respect of such sale or acquisition; 

(17) (i) dispositions of property to the extent that such property is exchanged for credit against the purchase price of
similar replacement property that is promptly purchased, (ii) dispositions of property to the extent that the proceeds of such disposition are promptly applied to the purchase price of such replacement property (which replacement property is
actually promptly purchased), and (iii) to the extent allowable under Section 1031 of the Code, any exchange of like property (excluding any boot thereon) for use in a Similar Business; 

(18) sales of accounts receivable, or participations therein, in connection with any Receivables Facility, or the disposition
of an account receivable in connection with the collection or compromise thereof; 

  
 -4- 

 (19) any financing transaction with respect to property constructed,
acquired, leased, renewed, relocated, expanded, maintained, upgraded, replaced, repaired or improved (including any reconstruction, refurbishment, renovation and/or development of real property) by the Company or any Restricted Subsidiary after the
Issue Date, including Sale and Leaseback Transactions and asset securitizations, not prohibited by this Indenture; 
 (20)
sales, transfers or other dispositions of Investments in joint ventures or similar entities to the extent required by, or made pursuant to customary buy/sell arrangements between, the parties to such joint venture set forth in joint venture
arrangements and similar binding arrangements; 
 (21) any surrender or waiver of contractual rights or the settlement,
release, surrender or waiver of contractual, tort, litigation or other claims of any kind; 
 (22) the unwinding of any Cash
Management Services or Hedging Obligations; and 
 (23) dispositions of non-core
assets. 
 In the event that a transaction (or any portion thereof) meets the criteria of a permitted Asset Disposition and would also be a
Permitted Investment or an Investment permitted under Section 3.3, the Company, in its sole discretion, will be entitled to divide and classify such transaction (or a portion thereof) as an Asset Disposition and/or one or
more of the types of Permitted Investments or Investments permitted under Section 3.3. 

“Associate” means (i) any Person engaged in a Similar Business of which the Company or its Restricted Subsidiaries are
the legal and beneficial owners of between 20.0% and 50.0% of all outstanding Voting Stock and (ii) any joint venture entered into by the Company or any Restricted Subsidiary of the Company. 

“Available RP Capacity Amount” means, as of the date of Incurrence of any Indebtedness pursuant to
Section 3.2(b)(20), (i) the amount of Restricted Payments that may be made at the time of determination pursuant to Section 3.3 minus (ii) the outstanding amount of any Indebtedness
incurred pursuant to Section 3.2(b)(20) plus (iii) the aggregate principal amount of Indebtedness prepaid prior to or substantially concurrently at such time, solely to the extent such Indebtedness was incurred
pursuant to Section 3.2(b)(20). 
 “Bankruptcy Law” means Title 11 of the United States Code
or similar federal or state law for the relief of debtors. 
 “BMC Merger Agreement” means the Agreement and Plan of
Merger, dated August 26, 2020, by and among the Company, Boston Merger Sub I Inc., and BMC Stock Holdings, Inc. 
 “Board of
Directors” means (a) with respect to the Company or any corporation, the board of directors or managers, as applicable, of the corporation, or any duly authorized committee thereof; (b) with respect to any partnership, the board
of directors or other governing body of the general partner, as applicable, of the partnership or any duly authorized committee thereof; (c) with respect to a limited liability company, the managing member or members or any duly authorized
controlling committee thereof; and (d) with respect to any other Person, the board or any duly authorized committee of such Person serving a similar function. Whenever any provision requires any action or determination to be made by, or any
approval of, a Board of Directors, such action, determination or approval shall be deemed to have been taken or made if approved by a majority of the directors on any such Board of Directors (whether or not such action or approval is taken as part
of a formal board meeting or as a formal board approval). Unless the context requires otherwise, Board of Directors means the Board of Directors of the Company. 

“Board Resolution” means a copy of a resolution certified by the Secretary or an Assistant Secretary of a 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. 

  
 -5- 

 “Borrowing Base” at any given time means an amount equal to: 

 

	 	(a)	 90.0% of the face amount of all accounts receivable and all billings and unbilled receivables owned by the
Company and its Restricted Subsidiaries as of the end of the most recent fiscal quarter preceding the date of determination; plus 

  

	 	(b)	 90.0% of the book value of all inventory owned by the Company and its Restricted Subsidiaries as of the end of
the most recent fiscal quarter preceding the date of determination; plus 

  

	 	(c)	 90.0% of the face amount of all credit card receivables owned by the Company and its Restricted Subsidiaries as
of the end of the most recent fiscal quarter preceding the date of determination; plus 

  

	 	(d)	 100.0% of all cash held in a deposit account either (x) maintained with the administrative agent under the
ABL or (y) over which the administrative agent under the ABL has a perfected security interest. 

 The Borrowing Base
shall be calculated on a pro forma basis to include any accounts receivable, inventory, credit card receivables, unbilled receivables and billings owned by an entity that is to be merged with or into the Company or a Restricted Subsidiary or is to
become a Restricted Subsidiary on the date of determination. 
 “Business Day” means each day that is not a Saturday,
Sunday or other day on which banking institutions in New York, New York, United States or in the jurisdiction of the place of payment are authorized or required by law to close. When the payment of any obligation or the performance of any covenant,
duty or obligation is stated to be due or performance required on a day which is not a Business Day, the date of such payment or performance shall extend to the immediately succeeding Business Day and such extension of time shall not be reflected in
computing interest or fees, as the case may be. 
 “Business Successor” means (a) any former Subsidiary of the Company
and (b) any Person that, after the Issue Date, has acquired, merged or consolidated with a Subsidiary of the Company (that results in such Subsidiary ceasing to be a Subsidiary of the Company), 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. 

“Capital Stock” of any Person means any and all shares of, rights to purchase or acquire, warrants, options or depositary
receipts for, or other equivalents of or partnership or other interests in (however designated), equity of such Person, including any Preferred Stock, but excluding any debt securities convertible into or exchangeable for such equity. 

“Cash Equivalents” means: 
  

	 	(1)	 (a) U.S. dollars, Canadian dollars, Swiss Francs, United Kingdom pounds, Euro or any national currency of any
member state of the European Union on the Issue Date; or (b) any other foreign currency held by the Company and the Restricted Subsidiaries in the ordinary course of business; 

 

	 	(2)	 securities issued or directly and fully Guaranteed or insured by the United States, Canadian, Swiss or United
Kingdom governments, a member state of the European Union or, in each case, or any agency or instrumentality thereof (provided that the full faith and credit of such country or such member state is pledged in support thereof), having
maturities of not more than two years from the date of acquisition; 

  

	 	(3)	 certificates of deposit, time deposits, eurodollar time deposits, overnight bank deposits or bankers’
acceptances having maturities of not more than one year from the date of acquisition thereof issued by any lender or by any bank or trust company (a) whose commercial paper is rated at least
“A-2” or the equivalent thereof by S&P or at least “P-2” or the equivalent thereof by Moody’s (or if at the time neither is issuing
comparable ratings, then a comparable rating of another Nationally Recognized Statistical Rating Organization) or (b) (in the event that the bank or trust company does not have commercial paper which is rated) having combined capital and
surplus in excess of $100.0 million; 

  
 -6- 

	 	(4)	 repurchase obligations for underlying securities of the types described in clauses (2), (3) and
(7) entered into with any bank meeting the qualifications specified in clause (3) above; 

  

	 	(5)	 securities with maturities of one year or less from the date of acquisition backed by standby letters of credit
issued by any Person referenced in clause (3) above; 

  

	 	(6)	 commercial paper and variable or fixed rate notes issued by a bank meeting the qualifications specified in
clause (3) above (or by the parent company thereof) maturing within one year after the date of creation thereof or any commercial paper and variable or fixed rate note issued by, or guaranteed by a corporation rated at least (A) “A-1” or higher by S&P or “P-1” or higher by Moody’s (or, if at the time, neither is issuing comparable ratings, then a comparable rating of
another Nationally Recognized Statistical Rating Organization selected by the Company) maturing within two years after the date of creation thereof or (B) “A-2” or higher by S&P or “P-2” or higher by Moody’s (or, if at the time, neither is issuing comparable ratings, then a comparable rating of another Nationally Recognized Statistical Rating Organization selected by the
Company) maturing within one year after the date of creation thereof, or, in each case, if no rating is available in respect of the commercial paper or fixed rate notes, the issue of which has an equivalent rating in respect of its long-term debt;

  

	 	(7)	 marketable short-term money market and similar securities having a rating of at least “P-2” or “A-2” from either S&P or Moody’s, respectively (or, if at the time, neither is issuing comparable ratings, then a comparable rating of
another Nationally Recognized Statistical Rating Organization selected by the Company), and in each case maturing within 24 months after the date of creation or acquisition thereof; 

 

	 	(8)	 readily marketable direct obligations issued by any state, province, commonwealth or territory of the United
States of America, Canada, Switzerland, the United Kingdom, any member state of the European Union or any political subdivision, taxing authority or public instrumentality thereof, in each case, having one of the two highest ratings categories
obtainable from either Moody’s or S&P (or, if at the time, neither is issuing comparable ratings, then a comparable rating of another Nationally Recognized Statistical Rating Organization selected by the Company) with maturities of not more
than two years from the date of creation or acquisition; 

  

	 	(9)	 readily marketable direct obligations issued by any foreign government or any political subdivision, taxing
authority or public instrumentality thereof, in each case, having one of the two highest ratings categories obtainable by S&P or Moody’s (or, if at the time, neither is issuing comparable ratings, then a comparable rating of another
Nationally Recognized Statistical Rating Organization selected by the Company) with maturities of not more than two years from the date of acquisition; 

  

	 	(10)	 Investments with average maturities of 12 months or less from the date of acquisition in money market funds
rated within the three highest ratings categories by S&P or Moody’s (or, if at the time, neither is issuing comparable ratings, then a comparable rating of another Nationally Recognized Statistical Rating Organization selected by the
Company); 

  

	 	(11)	 with respect to any Foreign Subsidiary: (i) obligations of the national government of the country in which
such Foreign Subsidiary maintains its chief executive office and principal place of business provided such country is a member of the Organization for Economic Cooperation and Development, in each case maturing within one year after the date of
investment therein, (ii) certificates of deposit of, bankers acceptance of, or time deposits with, any commercial bank which is organized and existing under the laws of the country in which such Foreign Subsidiary maintains its chief executive
office and principal place of business provided such country is a member of the Organization for Economic Cooperation and Development, and whose short-term commercial paper rating 

  
 -7- 

	 	
from S&P is at least “A-2” or the equivalent thereof or from Moody’s is at least “P-2”
or the equivalent thereof (any such bank being an “Approved Foreign Bank”), and in each case with maturities of not more than 270 days from the date of acquisition and (iii) the equivalent of demand deposit accounts which are
maintained with an Approved Foreign Bank; 

  

	 	(12)	 Indebtedness or Preferred Stock issued by Persons with a rating of
“BBB-” or higher from S&P or “Baa3” or higher from Moody’s (or, if at the time, neither is issuing comparable ratings, then a comparable rating of another Nationally Recognized
Statistical Rating Organization selected by the Company) with maturities of 24 months or less from the date of acquisition; 

  

	 	(13)	 bills of exchange issued in the United States, Canada, Switzerland, the United Kingdom, a member state of the
European Union or Japan eligible for rediscount at the relevant central bank and accepted by a bank (or any dematerialized equivalent); 

  

	 	(14)	 investments in money market funds access to which is provided as part of “sweep” accounts maintained
with any bank meeting the qualifications specified in clause (3) above; 

  

	 	(15)	 investments in industrial development revenue bonds that (i)
“re-set” interest rates not less frequently than quarterly, (ii) are entitled to the benefit of a remarketing arrangement with an established broker dealer and (iii) are supported by a
direct pay letter of credit covering principal and accrued interest that is issued by any bank meeting the qualifications specified in clause (3) above; 

  

	 	(16)	 investments in pooled funds or investment accounts consisting of investments in the nature described in the
foregoing clause (15); 

  

	 	(17)	 Cash Equivalents or instruments similar to those referred to in clauses (1) through (16) above denominated
in Dollars or any Alternative Currency; 

  

	 	(18)	 interests in any investment company, money market, enhanced high yield fund or other investment fund which
invests 90.0% or more of its assets in instruments of the types specified in clauses (1) through (17) above; and 

  

	 	(19)	 for purposes of clause (2) of the definition of “Asset Disposition,” any marketable securities
portfolio owned by the Company and its Subsidiaries on the Issue Date. 

 In the case of Investments by any Foreign Subsidiary that is a
Restricted Subsidiary or Investments made in a country outside the United States of America, Cash Equivalents shall also include (i) investments of the type and maturity described in clauses (1) through (9) and clauses (11) through
(14) above of foreign obligors, which Investments or obligors (or the parents of such obligors) have ratings described in such clauses or equivalent ratings from comparable foreign rating agencies and (ii) other short-term investments utilized
by Foreign Subsidiaries that are Restricted Subsidiaries in accordance with normal investment practices for cash management in investments analogous to the foregoing investments in clauses (1) through (14) and in this paragraph. Notwithstanding
the foregoing, Cash Equivalents shall include amounts denominated in currencies other than those set forth in clause (1) above, provided that such amounts are converted into any currency listed in clause (1) as promptly as
practicable and in any event within 10 Business Days following the receipt of such amounts. For the avoidance of doubt, any items identified as Cash Equivalents under this definition (other than clause (16) above) will be deemed to be Cash
Equivalents for all purposes under this Indenture regardless of the treatment of such items under GAAP. 
 “Cash Management
Services” means any of the following to the extent not constituting a line of credit (other than an overnight draft facility that is not in default): automated clearing house transactions, treasury, depository, credit or debit card,
purchasing card, stored value card, electronic fund transfer services and/or cash management services, including, without limitation, controlled disbursement services, overdraft facilities, foreign exchange facilities, deposit and other accounts and
merchant services or other cash management arrangements. 
 “Change of Control” means: 

  
 -8- 

	 	(1)	 the Company 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) any “person” or “group” of related persons (as such terms are used in Sections 13(d) and 14(d) of the Exchange Act as in effect on the Issue Date), other than one or more
Permitted Holders, is or becomes the “beneficial owner” (as defined in Rules 13d-3 and 13d-5 under the Exchange Act as in effect on the Issue Date), directly
or indirectly, of more than 50.0% of the total voting power of the Voting Stock of the Company other than in connection with any transaction or series of transactions in which the Company shall become the wholly-owned subsidiary of a Parent Entity
so long as no person or group, as noted above, other than a Permitted Holder, holds 50.0% or more of the total voting power of the Voting Stock of such Parent Entity; or 

 

	 	(2)	 the sale, lease, transfer, conveyance or other disposition (other than by way of merger, amalgamation,
consolidation or other business combination transaction), in one or a series of related transactions, of all or substantially all of the assets of the Company and its Restricted Subsidiaries taken as a whole to a Person, other than the Company or
any of its Restricted Subsidiaries or one or more Permitted Holders. 

 “Change of Control Triggering
Event” means the occurrence of both a Change of Control and a Ratings Event. 
 “Code” means the United States
Internal Revenue Code of 1986, as amended. 
 “Company” means Builders FirstSource, Inc., a Delaware corporation. 

“Consolidated Depreciation and Amortization Expense” means, with respect to any Person for any period, the total amount of
depreciation and amortization expense, including amortization or write-off of (i) intangibles and non-cash organization costs, (ii) deferred financing and debt
issuance fees, costs or expenses and (iii) capitalized expenditures, customer acquisition costs and incentive payments, conversion costs and contract acquisition costs, the amortization of original issue discount resulting from the issuance of
Indebtedness at less than par and amortization of favorable or unfavorable lease assets or liabilities, of such Person and its Restricted Subsidiaries for such period on a consolidated basis and otherwise determined in accordance with GAAP and any
write-down of assets or asset value carried on the balance sheet. 
 “Consolidated EBITDA” means, with respect to any
Person for any period, the Consolidated Net Income of such Person for such period: 
  

	 	(1)	 increased (without duplication) by: 

 

	 	(a)	 any fees, costs, expenses or charges (other than Consolidated Depreciation and Amortization Expense) related to
any actual, proposed or contemplated Equity Offering (including any expense relating to enhanced accounting functions or other transactions costs associated with becoming a public company), Permitted Investment, acquisition, disposition,
recapitalization or the Incurrence of Indebtedness permitted to be incurred by this Indenture (including a refinancing thereof) (whether or not successful), including (i) such fees, expenses or charges related to the offering of the Existing
Notes, the Notes, the ABL, any other Credit Facilities and any Receivables Fees, and (ii) any amendment, waiver or other modification of the Existing Notes, the Notes, the ABL, Receivables Facilities, any other Credit Facilities, any
Receivables Fees, any other Indebtedness permitted to be Incurred under this Indenture or any Equity Offering, in each case, whether or not consummated, to the extent the same were deducted (and not added back) in computing Consolidated Net Income;
plus  

  

	 	(b)	 provision for taxes based on income or profits, revenue or capital, including, without limitation, federal,
state, provincial, territorial, local, foreign, unitary, excise, property, franchise and similar taxes and foreign withholding and similar taxes of such Person paid or accrued during such period, including any penalties and interest relating to any
tax examinations (including, without limitation, any additions to such taxes, and any penalties and interest with respect thereto), deducted (and not added back) in computing Consolidated Net Income; plus 

  
 -9- 

	 	(c)	 any other non-cash charges, write-downs, expenses, losses or items
reducing Consolidated Net Income for such period including any impairment charges or the impact of purchase accounting (provided that if any such non-cash charge, write-down or item to the extent it
represents an accrual or reserve for a cash expenditure for a future period then the cash payment in such future period shall be subtracted from Consolidated EBITDA when paid); plus  

 

	 	(d)	 (i) the amount of any restructuring charge, reserve, integration cost or other business optimization expense or
cost (including charges directly related to the implementation of cost-savings initiatives) that is deducted (and not added back) in such period in computing Consolidated Net Income, including any one-time
costs incurred in connection with acquisitions or divestitures after the Issue Date, including, without limitation, those related to any severance, retention, signing bonuses, relocation, recruiting and other employee related costs, future lease
commitments and costs related to the opening and closure and/or consolidation of facilities and to exiting lines of business and (ii) fees, costs and expenses associated with acquisition related litigation and settlements thereof; plus 

  

	 	(e)	 any net loss included in the Consolidated Net Income attributable to
non-controlling interests pursuant to the application of Accounting Standards Codification Topic 810-10-45 (“Topic
810”); plus  

  

	 	(f)	 the amount of board of director fees, management, monitoring, advisory, consulting, refinancing, subsequent
transaction, advisory and exit fees (including termination fees) and related indemnities and expenses paid or accrued in such period to any member of the Board of Directors of the Company, any Permitted Holder or any Affiliate of a Permitted Holder
to the extent permitted under Section 3.8; plus  

  

	 	(g)	 net realized losses from Hedging Obligations or embedded derivatives that require similar accounting treatment
and the application of Accounting Standard Codification Topic 815 (“Topic 815”) and related pronouncements; plus  

  

	 	(h)	 cash receipts (or any netting arrangements resulting in reduced cash expenditures) not representing
Consolidated EBITDA or Consolidated Net Income in any period to the extent non-cash gains relating to such income were deducted in the calculation of Consolidated EBITDA pursuant to clause (2) below for
any previous period and not added back; plus  

  

	 	(i)	 any costs or expense incurred by the Company or a Restricted Subsidiary pursuant to any management equity plan
or stock option plan or any other management or employee benefit plan or agreement, any severance agreement or any stock subscription or shareholder agreement, to the extent that such cost or expenses are funded with cash proceeds contributed to the
capital of the Company or net cash proceeds of an issuance of Capital Stock (other than Disqualified Stock) of the Company solely to the extent that such net cash proceeds are excluded from the calculation set forth in
Section 3.3(a)(iii); plus  

  

	 	(j)	 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 the initial application of Accounting Standards Codification Topic
715, and any other items of a similar nature; plus 

  
 -10- 

	 	(k)	 the amount of loss or discount on sale of receivables and related assets to the Receivables Subsidiary in
connection with a Receivables Facility; plus 

  

	 	(l)	 earn-out and contingent consideration obligations (including to the
extent accounted for as bonuses or otherwise) and adjustments thereof and purchase price adjustments, in each case in connection with acquisitions or an Investment; plus 

 

	 	(m)	 the amount of “run rate” cost savings (including, without limitation, cost savings with respect to
salary, benefit and other direct savings resulting from workforce reductions and facility, benefit, insurance and procurement savings and any savings expected to result from the reduction of a public target’s Public Company Costs), operating
expense reductions (including, without limitation, reductions with respect to facility closures and delivery fleet consolidation), other operating improvements (including the entry into material contracts or arrangements), and initiatives and
synergies (including, to the extent applicable, from (i) the Transactions, (ii) the effect of new customer contracts or projects and/or (iii) increased pricing or volume in existing contracts) projected by the Company in good faith to
be reasonably anticipated to be realizable or a plan for realization shall have been established within twenty four (24) months of the date thereof (which will be added to Consolidated EBITDA as so projected until fully realized and calculated
on a pro forma basis as though such cost savings (including, without limitation, cost savings with respect to salary, benefit and other direct savings resulting from workforce reductions and facility, benefit, insurance and procurement savings and
any savings expected to result from the reduction of a public target’s Public Company Costs), operating expense reductions (including, without limitation, reductions with respect to facility closures and delivery fleet consolidation), other
operating improvements (including the entry into material contracts or arrangements), and initiatives and synergies had been realized on the first day of such period), net of the amount of actual benefits realized during such period from such
actions; provided that all steps have been taken, or are reasonably expected to be taken, in good faith, for realizing such cost savings and such cost savings are reasonably identifiable and factually supportable (in the good faith
determination of the Company); plus 

  

	 	(n)	 Fixed Charges of such Person for such period (including (x) net losses on any Hedging Obligations or other
derivative instruments entered into for the purpose of hedging interest rate, currency or commodities risk, (y) bank fees and (z) costs of surety bonds in connection with financing activities, plus amounts excluded from the definition of
“Consolidated Interest Expense” pursuant to clauses (t) through (z) in clause (1) thereof), to the extent the same were deducted (and not added back) in calculating such Consolidated Net Income; plus 

 

	 	(o)	 Consolidated Depreciation and Amortization Expense of such Person for such period to the extent the same were
deducted (and not added back) in computing Consolidated Net Income; plus  

  

	 	(p)	 the amount of any minority interest expense consisting of Subsidiary income attributable to minority equity
interests of third parties in any non-wholly owned Subsidiary; plus  

  

	 	(q)	 realized foreign exchange losses resulting from the impact of foreign currency changes on the valuation of
assets or liabilities on the balance sheet of the Company and its Restricted Subsidiaries; plus  

  

	 	(r)	 the amount of expenses relating to payments made to option holders of the Company or any Parent Entity in
connection with, or as a result of, any distribution being made to equityholders of such Person or its Parent Entities, which payments are being made to compensate such option holders as though they were equityholders at the time of, and entitled to
share in, such distribution, in each case to the extent permitted under this Indenture; plus 

  
 -11- 

	 	(s)	 losses, expenses or charges (including all fees and expenses or charges related thereto) (i) from
abandoned, closed, disposed or discontinued operations and any losses on disposal of abandoned, closed or discontinued operations and (ii) attributable to business dispositions or asset dispositions (other than in the ordinary course of
business) as determined in good faith; plus 

  

	 	(t)	 Public Company Costs; plus 

 

	 	(u)	 cost related to the implementation of operational and reporting systems and technology initiatives; plus

  

	 	(v)	 adjustments of the nature used in connection with the calculation of “Adjusted EBITDA” as set forth
in footnote (1) of “Summary—Summary Historical Financial and Other Data” contained in the Offering Circular applied in good faith to the extent such adjustments continue to be applicable during the period in which Consolidated
EBITDA is being calculated; and 

  

	 	(2)	 decreased (without duplication) by: 

 

	 	(a)	 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; plus 

  

	 	(b)	 any net income included in Consolidated Net Income attributable to
non-controlling interests pursuant to the application of Topic 810. 

“Consolidated Interest Expense” means, with respect to any Person for any period, without duplication, the sum
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 or premium 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 attributable to the movement in the mark to market valuation of any Hedging Obligations or other derivative instruments pursuant to GAAP), (d) the interest component of Finance Lease Obligations, and (e) net payments, if any,
pursuant to interest rate Hedging Obligations with respect to Indebtedness, and excluding (s) Receivables Fees; (t) penalties and interest relating to taxes, (u) any additional cash interest owing pursuant to any registration rights
agreement, (v) accretion or accrual of discounted liabilities other than Indebtedness, (w) any expense resulting from the discounting of any Indebtedness in connection with the application of purchase accounting in connection with any
acquisition, (x) amortization or write-off of deferred financing fees, debt issuance costs, debt discount or premium, terminated hedging obligations and other commissions, financing fees and expenses and,
adjusted, to the extent included, to exclude any refunds or similar credits received in connection with the purchasing or procurement of goods or services under any purchasing card or similar program, (y) any expensing of bridge, commitment and
other financing fees and (z) interest with respect to Indebtedness of any parent of such Person appearing upon the balance sheet of such Person solely by reason of push-down accounting under GAAP); 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. 

  
 -12- 

 For purposes of this definition, interest on a Finance Lease Obligation shall be deemed to accrue at an
interest rate reasonably determined by such Person to be the rate of interest implicit in such Finance Lease Obligation in accordance with GAAP. 

“Consolidated Net Income” means, with respect to any Person for any period, the net income (loss) of such Person and its
Restricted Subsidiaries for such period determined on a consolidated basis on the basis of GAAP before any reduction in respect of Preferred Stock dividends; provided, however, that there will not be included in such Consolidated Net
Income: 
 (1) any extraordinary, exceptional, unusual or nonrecurring, loss, charge or expense (including Acquisition
Transaction Expenses, Permitted Change of Control Costs or any charges, expenses or reserves in respect of any restructuring, redundancy or severance expense or relocation costs, integration and facilities’ opening costs and other business
optimization expenses and operating improvements (including related to new product introductions), systems development and establishment costs, restructuring charges, accruals or reserves (including restructuring and integration costs related to
acquisitions after the Issue Date and adjustments to existing reserves), whether or not classified as restructuring expense on the consolidated financial statements, signing costs, retention or completion bonuses, transition costs, costs related to
closure/consolidation of facilities, internal costs in respect of strategic initiatives and curtailments or modifications to pension and post-retirement employee benefit plans (including any settlement of pension liabilities), contract terminations
and professional and consulting fees incurred with any of the foregoing); 
 (2) the cumulative effect of a change in
accounting principles, including any impact resulting from an election by the Company to apply IFRS at any time following the Issue Date; 

(3) any costs associated with the Acquisition Transactions; 

(4) any fees and expenses (including any transaction or retention bonus or similar payment) incurred during such period, or any
amortization thereof for such period, in connection with any acquisition, Investment, asset disposition, issuance or repayment of Indebtedness, issuance of Capital Stock, refinancing transaction or amendment or modification of any debt instrument
(in each case, including any such transaction consummated prior to the Issue Date and any such transaction undertaken but not completed) and any charges or non-recurring merger costs incurred during such
period as a result of any such transaction, in each case whether or not successful (including, for avoidance of doubt, the effects of expensing all transaction-related expenses in accordance with Financial Accounting Standards Codification
No. 805 and gains or losses associated with Financial Accounting Standards Codification No. 460); 
 (5) all
deferred financing costs written off and premiums paid or other expenses incurred directly in connection with any early extinguishment of Indebtedness and any net gain (loss) from any write-off or forgiveness
of Indebtedness; 
 (6) accruals and reserves that are established or adjusted (including any adjustment of estimated payouts
on existing earn-outs) that are so required to be established as a result of the Acquisition Transactions in accordance with GAAP, or changes as a result of adoption or modification of accounting policies; 

(7) any (i) non-cash compensation charge or expense arising from any grant of
stock, stock options or other equity based awards and any non-cash deemed finance charges in respect of any pension liabilities or other provisions or on the
re-valuation of any benefit plan obligation and (ii) income (loss) attributable to deferred compensation plans or trusts; 

(8) any net income (loss) of any Person if such Person is not a Restricted Subsidiary (including any net income (loss) from
investments recorded in such Person under equity method accounting), except that the Company’s equity in the net income of any such Person for such period will be included in such Consolidated Net Income up to the aggregate amount of cash or
Cash Equivalents actually distributed or that (as reasonably determined by an Officer of the Company) could have been distributed by such Person during such period to the Company or a Restricted Subsidiary as a dividend or other distribution or
return on investment (subject, in the case of a dividend or other distribution or return on investment to a Restricted Subsidiary, to the limitations contained in clause (9) below); 

  
 -13- 

 (9) solely for the purpose of determining the amount available for
Restricted Payments under Section 3.3(a)(iii)(B), any net income (loss) of any Restricted Subsidiary (other than the Company and the Guarantors) if such Subsidiary is subject to restrictions, directly or indirectly, on the
payment of dividends or the making of distributions by such Restricted Subsidiary, directly or indirectly, to the Company or a Guarantor by operation of the terms of such Restricted Subsidiary’s articles, charter or any agreement, instrument,
judgment, decree, order, statute or governmental rule or regulation applicable to such Restricted Subsidiary or its shareholders (other than (a) restrictions that have been waived or otherwise released, (b) restrictions pursuant to the
ABL, the Existing Notes, the Notes, this Indenture or the Existing Notes Indentures and (c) restrictions specified in Section 3.4(b)(13)), except that the Company’s equity in the net income of any such Restricted
Subsidiary for such period will be included in such Consolidated Net Income up to the aggregate amount of cash or Cash Equivalents actually distributed or that could have been distributed by such Restricted Subsidiary during such period to the
Company or another Restricted Subsidiary as a dividend or other distribution (subject, in the case of a dividend to another Restricted Subsidiary, to the limitation contained in this clause); 

(10) any gain (or loss), together with any related provisions for taxes on any such gain (or the tax effect of any such loss),
realized upon the sale or other disposition of any asset (including pursuant to any Sale and Leaseback Transaction) or disposed or discontinued operations of the Company or any Restricted Subsidiary which is not sold or otherwise disposed of in the
ordinary course of business (as determined in good faith by an Officer or the Board of Directors of the Company); 
 (11) any
unrealized gains or losses in respect of any Hedging Obligations or any ineffectiveness recognized in earnings related to qualifying hedge transactions or the fair value of changes therein recognized in earnings for derivatives that do not qualify
as hedge transactions, in each case, in respect of any Hedging Obligations; 
 (12) any unrealized foreign currency
translation increases or decreases or transaction gains or losses in respect of Indebtedness of any Person denominated in a currency other than the functional currency of such Person, including those related to currency remeasurements of
Indebtedness (including any net loss or gain resulting from Hedging Obligations for currency exchange risk) or other obligations of the Company or any Restricted Subsidiary owing to the Company or any Restricted Subsidiary and any unrealized foreign
exchange gains or losses relating to translation of assets and liabilities denominated in foreign currencies; 
 (13) any
unrealized or realized gain or loss due solely to fluctuations in currency values and the related tax effects, determined in accordance with GAAP; 

(14) any purchase accounting effects, including, but not limited to, adjustments to inventory, property and equipment, software
and other intangible assets and deferred revenue in component amounts required or permitted by GAAP and related authoritative pronouncements (including the effects of such adjustments pushed down to the Company and the Restricted Subsidiaries), as a
result of any consummated acquisition (including the Acquisition Transactions), or the amortization or write-off of any amounts thereof (including any write-off of in
process research and development); 
 (15) any goodwill or other intangible asset impairment charge, write-off or write-down and the amortization of intangibles arising pursuant to GAAP; 

(16) any after-tax effect of income (loss) from the early extinguishment or
cancellation of Indebtedness or any Hedging Obligations or other derivative instruments; 

  
 -14- 

 (17) any net unrealized gains and losses resulting from Hedging Obligations
or embedded derivatives that require similar accounting treatment and the application of Topic 815 and related pronouncements or mark to market movement of other financial instruments pursuant to Accounting Standards Codification 825 and related
pronouncements; and 
 (18) any non-cash expenses, accruals or reserves related to
adjustments to historical tax exposures and any deferred tax expense associated with tax deductions or net operating losses arising as a result of the Acquisition Transactions, or the release of any valuation allowances related to such item. 

In addition, to the extent not already included 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) any expenses and charges that are reimbursed by indemnification or other reimbursement provisions in connection with any investment or any sale, conveyance,
transfer or other disposition of assets permitted hereunder, or, so long as the Company has made a determination that there exists reasonable evidence that such amount will in fact be reimbursed and only to the extent that such amount is
(A) not denied by the applicable payor in writing within 180 days and (B) in fact reimbursed within 365 days of the date of such evidence (with a deduction for any amount so added back to the extent not so reimbursed within 365 days) and
(ii) to the extent covered by insurance (including business interruption insurance) and actually reimbursed, or, so long as the Company has made a determination that there exists reasonable evidence that such amount will in fact be reimbursed
by the insurer and only to the extent that such amount is (A) not denied by the applicable carrier in writing within 180 days and (B) in fact reimbursed within 365 days of the date of such evidence (with a deduction for any amount so added
back to the extent not so reimbursed within 365 days), expenses with respect to liability or casualty events or business interruption. 

“Consolidated Secured Leverage Ratio” means, as of any date of determination, the ratio of (x) the sum of
(a) Consolidated Total Indebtedness secured by a Lien on any assets or property of the Company or any Restricted Subsidiary as of such date and (b) the Reserved Indebtedness Amount secured by a first priority Lien as of such date to
(y) LTM EBITDA. 
 “Consolidated Total Indebtedness” means, as of any date of determination, (a) the aggregate
principal amount of Indebtedness for borrowed money (excluding intercompany Indebtedness, Subordinated Indebtedness and Indebtedness outstanding under the ABL that was used to finance seasonal working capital needs of the Company and its Restricted
Subsidiaries (as determined by the Company in its reasonable discretion) as of such date) minus (b) the aggregate amount of cash and Cash Equivalents included in the consolidated balance sheet of the Company and its Restricted Subsidiaries as
of the end of the most recent fiscal period for which internal financial statements of the Company are available (provided that the cash proceeds of any proposed Incurrence of Indebtedness shall not be included in this clause (b) for
purposes of calculating the Consolidated Total Leverage Ratio or the Consolidated Secured Leverage Ratio, as applicable), with such pro forma adjustments as are consistent with the pro forma adjustments set forth in the definition of “Fixed
Charge Coverage Ratio.” For the avoidance of doubt, “Consolidated Total Indebtedness” shall exclude Indebtedness in respect of any Receivables Facility. 

“Consolidated Total Leverage Ratio” means, as of any date of determination, the ratio of (x) the sum of
(i) Consolidated Total Indebtedness and (ii) the Reserved Indebtedness Amount, each as of such date to (y) LTM EBITDA. 

“Contingent Obligations” means, with respect to any Person, any obligation of such Person guaranteeing in any manner, whether
directly or indirectly, any operating lease, dividend or other obligation that does not constitute Indebtedness (“primary obligations”) of any other Person (the “primary obligor”), 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 therefor; 
 (2) to advance or supply funds: 

(a) for the purchase or payment of any such primary obligation; or 

  
 -15- 

 (b) to maintain the 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. 

“Controlled Investment Affiliate” means, as to any Person, any other Person, which directly or indirectly is in control of,
is controlled by, or is under common control with such Person and is organized by such Person (or any Person controlling such Person) primarily for making direct or indirect equity or debt investments in the Company and/or other companies. 

“Covenant Suspension” means, during any period of time following the issuance of the Notes, that (i) the Notes have
achieved Investment Grade Status, and (ii) no Default or Event of Default has occurred and is continuing under this Indenture. 

“Credit Facility” means, with respect to the Company or any of its Subsidiaries, one or more debt facilities (including the
ABL), indentures or other arrangements, commercial paper facilities and overdraft facilities with banks, other financial institutions or investors providing for revolving credit loans, term loans, notes, receivables financing (including through the
sale of receivables to such institutions or to special purpose entities formed to borrow from such institutions against such receivables), letters of credit or other Indebtedness, in each case, as amended, restated, modified, renewed, refunded,
replaced, restructured, refinanced, repaid, increased or extended in whole or in part from time to time (and whether in whole or in part and whether or not with the original administrative agent and lenders or another administrative agent or agents
or other banks or institutions and whether provided under the original ABL or one or more other credit or other agreements, indentures, financing agreements or otherwise) and in each case including all agreements, instruments and documents executed
and delivered pursuant to or in connection with the foregoing (including any notes and letters of credit issued pursuant thereto and any guarantee and collateral agreement, patent and trademark security agreement, mortgages or letter of credit
applications and other Guarantees, pledges, agreements, security agreements and collateral documents). Without limiting the generality of the foregoing, the term “Credit Facility” shall include any agreement or instrument (a) changing
the maturity of any Indebtedness Incurred thereunder or contemplated thereby, (b) adding Subsidiaries of the Company as additional borrowers or guarantors thereunder, (c) increasing the amount of Indebtedness Incurred thereunder or
available to be borrowed thereunder or (d) otherwise altering the terms and conditions thereof. 
 “Custodian” means
any receiver, trustee, assignee, liquidator, custodian or similar official under any Bankruptcy Law. 
 “Default” means any
event that is, or with the passage of time or the giving of notice or both would be, an Event of Default; provided that any Default that results solely from the taking of an action that would have been permitted but for the continuation of a
previous Default will be deemed to be cured if such previous Default is cured prior to becoming an Event of Default. 
 “Definitive
Notes” means certificated Notes. 
 “Derivative Instrument” with respect to a Person, means any contract,
instrument or other right to receive payment or delivery of cash or other assets to which such Person or any Affiliate of such Person that is acting in concert with such Person in connection with such Person’s investment in the Notes (other
than a Screened Affiliate) is a party (whether or not requiring further performance by such Person), the value and/or cash flows of which (or any material portion thereof) are materially affected by the value and/or performance of the Notes and/or
the creditworthiness of the Company and/or any one or more of the Guarantors (the “Performance References”) 

“Designated Non-Cash Consideration” means the fair market value (as determined
in good faith by the Company) of non-cash consideration received by the Company or one of its Restricted Subsidiaries in connection with an Asset Disposition that is so designated as Designated Non-Cash Consideration pursuant to an Officer’s Certificate, setting forth the basis of such valuation, less the amount of cash or Cash Equivalents received in connection with a subsequent payment, redemption,
retirement, sale or other disposition of such Designated Non-Cash Consideration. A particular item of Designated Non-Cash Consideration will no longer be considered to
be outstanding when and to the extent it has been paid, redeemed or otherwise retired or sold or otherwise disposed of in compliance with Section 3.5. 

  
 -16- 

 “Designated Preferred Stock” means Preferred Stock of the Company or a
Parent Entity (other than Disqualified Stock) that is issued for cash (other than to the Company or a Subsidiary of the Company or an employee stock ownership plan or trust established by the Company or any such Subsidiary for the benefit of their
employees to the extent funded by the Company or such Subsidiary) and that is designated as “Designated Preferred Stock” pursuant to an Officer’s Certificate of the Company at or prior to the issuance thereof, the Net Cash Proceeds of
which are excluded from the calculation set forth in Section 3.3(a)(iii)(C). 
 “Disinterested
Director” means, with respect to any Affiliate Transaction, a member of the Board of Directors of the Company having no material direct or indirect financial interest in or with respect to such Affiliate Transaction. A member of the Board
of Directors of the Company shall be deemed not to have such a financial interest by reason of such member’s holding Capital Stock of the Company or any options, warrants or other rights in respect of such Capital Stock. 

“Disqualified Stock” means, with respect to any Person, any Capital Stock of such Person which by its terms (or by the terms
of any security into which it is convertible or for which it is exchangeable) or upon the happening of any event: 
 (1)
matures or is mandatorily redeemable for cash or in exchange for Indebtedness pursuant to a sinking fund obligation or otherwise; or 

(2) is or may become (in accordance with its terms) upon the occurrence of certain events or otherwise redeemable or
repurchasable for cash or in exchange for Indebtedness at the option of the holder of the Capital Stock in whole or in part, 
 in each case on or prior to
the earlier of (a) the Stated Maturity of the Notes or (b) the date on which there are no Notes outstanding; provided, however, that (i) only the portion of Capital Stock which 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 will be deemed to be Disqualified Stock and (ii) any Capital Stock that would constitute Disqualified Stock solely because the holders
thereof have the right to require the Company to repurchase such Capital Stock upon the occurrence of a change of control or asset sale (howsoever defined or referred to) shall not constitute Disqualified Stock if any such redemption or repurchase
obligation is subject to compliance by the relevant Person with Section 3.3; provided, however, that if such Capital Stock is issued to any future, current or former employee, director, officer, manager or
consultant (or their respective Controlled Investment Affiliates or Immediate Family Members (excluding the Permitted Holders (but not excluding any future, current or former employee, director, officer, manager or consultant)) or Immediate Family
Members), of the Company, any of its Subsidiaries, any Parent Entity or any other entity in which the Company or a Restricted Subsidiary has an Investment and is designated in good faith as an “affiliate” by the board of directors of the
Company (or the compensation committee thereof) or any other plan for the benefit of current, former or future employees (or their respective Controlled Investment Affiliates or Immediate Family Members) of the Company or its Subsidiaries or by any
such plan to such employees (or their respective Controlled Investment Affiliates or Immediate Family Members), such Capital Stock shall not constitute Disqualified Stock solely because it may be required to be repurchased by the Company or its
Subsidiaries in order to satisfy applicable statutory or regulatory obligations. 
 “Dollars” or “$” means
the lawful currency of the United States of America. 
 “Domestic Subsidiary” means, with respect to any Person, any
Restricted Subsidiary of such Person other than a Foreign Subsidiary. 
 “DTC” means The Depository Trust Company or any
successor securities clearing agency. 

  
 -17- 

 “Equity Offering” means (x) a sale of Capital Stock (other than
through the issuance of Disqualified Stock or Designated Preferred Stock or through an Excluded Contribution) other than (a) offerings registered on Form S-8 (or any successor form) under the
Securities Act or any similar offering in other jurisdictions or other securities of the Company or any Parent Entity and (b) issuances of Capital Stock to any Subsidiary of the Company or (y) a cash equity contribution (other than an
Excluded Contribution or in the form of Disqualified Stock or Designated Preferred Stock) to the Company other than from a Subsidiary. 

“Euro” means the single currency of participating member states of the economic and monetary union as contemplated in the
Treaty on European Union. 
 “Exchange Act” means the U.S. Securities Exchange Act of 1934, as amended, and the rules and
regulations of the SEC promulgated thereunder, as amended. 
 “Excluded Contribution” means Net Cash Proceeds or property
or assets received by the Company as capital contributions to the equity (other than through the issuance of Disqualified Stock or Designated Preferred Stock) of the Company after the Issue Date or from the issuance or sale (other than to a
Restricted Subsidiary or an employee stock ownership plan or trust established by the Company or any Subsidiary of the Company for the benefit of their employees to the extent funded by the Company or any Restricted Subsidiary) of Capital Stock
(other than Disqualified Stock or Designated Preferred Stock) of the Company, in each case, to the extent designated as an Excluded Contribution pursuant to an Officer’s Certificate of the Company. 

“Existing Notes” means, collectively, the Existing Secured Notes and the Existing Unsecured Notes. 

“Existing Notes Indentures” means, collectively, the 2027 Notes Indenture, the 2030 Notes Indenture and the 2032 Notes
Indenture. 
 “Existing Secured Notes” means any of the Company’s 2027 Notes. 

“Existing Unsecured Notes” means any of the Company’s 2030 Notes or 2032 Notes. 

“fair market value” may be conclusively established by means of an Officer’s Certificate or resolutions of the Board of
Directors of the Company setting out such fair market value as determined by such Officer or such Board of Directors in good faith. 

“Finance Lease Obligations” means an obligation that is required to be classified and accounted for as a finance lease for
financial reporting purposes on the basis of GAAP. The amount of Indebtedness represented by such obligation will be the capitalized amount of such obligation at the time any determination thereof is to be made as determined on the basis of GAAP,
and the Stated Maturity thereof will be the date of the last payment of rent or any other amount due under such lease prior to the first date such lease may be terminated without penalty. 

“Fitch” means Fitch Ratings, Inc. or any of its successors or assigns that is a Nationally Recognized Statistical Rating
Organization. 
 “Fixed Charge Coverage Ratio” means, with respect to any Person on any determination date, the ratio of
Consolidated EBITDA of such Person for the most recent four consecutive fiscal quarters ending immediately prior to such determination date (the “reference period”) for which internal consolidated financial statements are available
to the Fixed Charges of such Person for reference period. In the event that the Company or any Restricted Subsidiary Incurs, assumes, Guarantees, redeems, defeases, retires or extinguishes any Indebtedness (other than Indebtedness incurred 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 reference period 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, defeasance, 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.  

  
 -18- 

 “Fixed Charges” means, with respect to any Person for any period, the sum
of: 
 (1) Consolidated Interest Expense of such Person for such period; 

(2) all cash dividends or other distributions paid (excluding items eliminated in consolidation) on any series of Preferred
Stock of any Restricted Subsidiary of such Person during such period; and 
 (3) all cash dividends or other distributions
paid (excluding items eliminated in consolidation) on any series of Disqualified Stock during this period. 
 “Foreign
Subsidiary” means, with respect to any Person, any Subsidiary of such Person that is not organized or existing under the laws of the United States, any state thereof or the District of Columbia and any Subsidiary of such Subsidiary. 

“GAAP” means generally accepted accounting principles in the United States of America 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 have been
approved by a significant segment of the accounting profession, which are in effect from time to time; provided that all terms of an accounting or financial nature used in this Indenture shall be construed, and all computations of amounts and
ratios referred to in this Indenture shall be made (a) without giving effect to any election under Accounting Standards Codification Topic 825—Financial Instruments, or any successor thereto or comparable accounting principle (including
pursuant to the Accounting Standards Codification), to value any Indebtedness of the Company or any Subsidiary at “fair value,” as defined therein and (b) the amount of any Indebtedness under GAAP with respect to Finance Lease
Obligations shall be determined in accordance with the definition of Finance Lease Obligations. At any time after the Issue Date, the Company may elect to apply IFRS accounting principles in lieu of GAAP and, upon any such election, references
herein to GAAP shall thereafter be construed to mean IFRS (except as otherwise provided in this Indenture); provided that any such election, once made, shall be irrevocable; provided, further, that any calculation or
determination in this Indenture that requires the application of GAAP for periods that include fiscal quarters ended prior to the Company’s election to apply IFRS shall remain as previously calculated or determined in accordance with GAAP. The
Company shall give notice of any such election made in accordance with this definition to the Trustee. For the avoidance of doubt, solely making an election (without any other action) referred to in this definition will not be treated as an
Incurrence of Indebtedness. 
 If there occurs a change in IFRS or GAAP, as the case may be, and such change would cause a change in the
method of calculation of any standards, terms or measures used in this Indenture (an “Accounting Change”), then the Company may elect, as evidenced by a written notice of the Company to the Trustee, that such standards, terms or
measures shall be calculated as if such Accounting Change had not occurred. 
 “Governmental Authority” means any nation,
sovereign or government, any state, province, territory or other political subdivision thereof, any agency, authority, instrumentality, regulatory body, court, administrative tribunal, central bank, stock exchange or other entity or authority
exercising executive, legislative, judicial, taxing, regulatory, self-regulatory or administrative powers or functions of or pertaining to government. 

“Grantor” means the Company and the Guarantors. 

“Guarantee” means, any obligation, contingent or otherwise, of any Person directly or indirectly guaranteeing any
Indebtedness of any other Person, including any such 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, to
take-or-pay or to maintain financial statement conditions or otherwise); or 

  
 -19- 

 (2) entered into primarily 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” will not include (x) endorsements for collection or deposit in the ordinary course of business or consistent with past practice and (y) standard contractual indemnities or product
warranties, and provided, further, that the amount of any Guarantee shall be deemed to be the lower of (i) an amount equal to the stated or determinable amount of the primary obligation in respect of which such Guarantee is made
and (ii) the maximum amount for which such guaranteeing Person may be liable pursuant to the terms of the instrument embodying such Guarantee or, if such Guarantee is not an unconditional guarantee of the entire amount of the primary obligation
and such maximum amount is not stated or determinable, the amount of such guaranteeing Person’s maximum reasonably anticipated liability in respect thereof as determined by such Person in good faith. The term “Guarantee” used as a
verb has a corresponding meaning. 
 “Guarantor” means any Restricted Subsidiary that Guarantees the Notes, until such Note
Guarantee is released in accordance with the terms of this Indenture. 
 “Hedging Obligations” means, with respect to any
Person, the obligations of such Person under any interest rate swap agreement, interest rate cap agreement, interest rate collar agreement, commodity swap agreement, commodity cap agreement, commodity collar agreement, foreign exchange contracts,
currency swap agreement or similar agreement providing for the transfer or mitigation of interest rate, commodity price or currency risks either generally or under specific contingencies. 

“Holder” means each Person in whose name the Notes are registered on the Registrar’s books, which shall initially be the
respective nominee of DTC. 
 “IFRS” means the international financial reporting standards, as issued by the International
Accounting Standards Board as in effect from time to time. 
 “Immaterial Subsidiary” means, at any date of determination,
each Restricted Subsidiary of the Company that has not guaranteed any other Indebtedness of the Company and, together with all other Immaterial Subsidiaries (as determined in accordance with GAAP), has Total Assets and revenues of less than 10.0% of
Total Assets, in each case, measured at the end of the most recent fiscal period for which internal financial statements are available and revenues on a pro forma basis giving effect to any acquisitions or dispositions of companies, divisions
or lines of business since such balance sheet date or the start of such four quarter period, as applicable, and on or prior to the date of acquisition of such Subsidiary. 

“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, the estate of such individual and such other individuals above) 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. 

“Incur” means issue, create, assume, enter into any Guarantee of, incur, extend or otherwise become liable for;
provided, however, that any Indebtedness or Capital Stock of a Person existing at the time such Person becomes a Restricted Subsidiary (whether by merger, amalgamation, consolidation, acquisition or otherwise) will be deemed to be
Incurred by such Restricted Subsidiary at the time it becomes a Restricted Subsidiary and the terms “Incurred” and “Incurrence” have meanings correlative to the foregoing and any Indebtedness pursuant to any revolving credit or
similar facility shall only be “Incurred” at the time any funds are borrowed thereunder. 
 “Indebtedness” means,
with respect to any Person on any date of determination (without duplication): 
 (1) the principal of Indebtedness of such
Person for borrowed money; 

  
 -20- 

 (2) the principal of obligations of such Person evidenced by bonds,
debentures, notes or other similar instruments; 
 (3) all reimbursement obligations of such Person in respect of letters of
credit, bankers’ acceptances or other similar instruments (the amount of such obligations being equal at any time to the aggregate then undrawn and unexpired amount of such letters of credit or other instruments plus the aggregate amount of
drawings thereunder that have not been reimbursed) (except to the extent such reimbursement obligations relate to trade payables and such obligations are satisfied within 30 days of Incurrence); 

(4) the principal component of all obligations of such Person to pay the deferred and unpaid purchase price of property (except
trade payables or similar obligations to trade creditors), which purchase price is due more than one year after the date of placing such property in service or taking final delivery and title thereto; 

(5) Finance Lease Obligations of such Person; 

(6) the principal component of all obligations, or liquidation preference, of such Person with respect to any Disqualified
Stock or, with respect to any Restricted Subsidiary, any Preferred Stock (but excluding, in each case, any accrued dividends); 

(7) the principal component of 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 will be the lesser of (a) the fair market value of such asset at such date of determination (as determined in good faith by the
Company) and (b) the amount of such Indebtedness of such other Persons; 
 (8) Guarantees by such Person of the
principal component of Indebtedness of the type referred to in clauses (1), (2), (3), (4), (5) and (9) of other Persons to the extent Guaranteed by such Person; and 

(9) to the extent not otherwise included in this definition, net obligations of such Person under Hedging Obligations (the
amount of any such obligations to be equal at any time to the net payments under such agreement or arrangement giving rise to such obligation that would be payable by such Person at the termination of such agreement or arrangement); 

with respect to clauses (1), (2), (4) and (5) above, if and to the extent that any of the foregoing Indebtedness (other than letters of credit and
Hedging Obligations) would appear as a liability upon a balance sheet (excluding the footnotes thereto) of such Person prepared in accordance with GAAP; provided, that Indebtedness of any Parent Entity appearing upon the balance sheet of the
Company solely by reason of push-down accounting under GAAP shall be excluded. 
 The term “Indebtedness” shall not include any
lease, concession or license of property (or Guarantee thereof) which would be considered an operating lease under GAAP, any prepayments of deposits received from clients or customers in the ordinary course of business or consistent with past
practice, or obligations under any license, permit or other approval (or Guarantees given in respect of such obligations) Incurred prior to the Issue Date or in the ordinary course of business or consistent with past practice. 

The amount of Indebtedness of any Person at any time in the case of a revolving credit or similar facility shall be the total amount of funds
borrowed and then outstanding. The amount of any Indebtedness outstanding as of any date shall be (a) the accreted value thereof in the case of any Indebtedness issued with original issue discount and (b) the principal amount of
Indebtedness, or liquidation preference thereof, in the case of any other Indebtedness. Indebtedness shall be calculated without giving effect to the effects of Topic 815 and related interpretations to the extent such effects would otherwise
increase or decrease an amount of Indebtedness for any purpose under this Indenture as a result of accounting for any embedded derivatives created by the terms of such Indebtedness. 

  
 -21- 

 Notwithstanding the above provisions, in no event shall the following constitute
Indebtedness: 
 (i) Contingent Obligations, other than Guarantees or other assumptions of Indebtedness; 

(ii) Obligations under or in respect of Receivables Facilities; 

(iii) Cash Management Services; 

(iv) any lease, concession or license of property (or Guarantee thereof) which would be considered an operating lease under
GAAP or any prepayments of deposits received from clients or customers; 
 (v) obligations under any license, permit or other
approval (or Guarantees given in respect of such obligations) incurred prior to the Issue Date or in the ordinary course of business or consistent with past practice; 

(vi) in connection with the purchase by the Company or any Restricted Subsidiary of any business, any post-closing payment adjustments to which the seller may become 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; provided, however, that, at the time of closing, the amount of any such payment is not determinable and, to the extent such payment thereafter becomes fixed and determined, the amount is paid in a timely manner; 

(vii) for the avoidance of doubt, any obligations in respect of workers’ compensation claims, early retirement or
termination obligations, pension fund obligations or contributions or similar claims, obligations or contributions or social security or wage Taxes; 

(viii) Indebtedness of any Parent Entity appearing on the balance sheet of the Company solely by reason of push down accounting
under GAAP; 
 (ix) Capital Stock (other than Disqualified Stock); or 

(x) amounts owed to dissenting stockholders in connection with, or as a result of, their exercise of appraisal rights and the
settlement of any claims or action (whether actual, contingent or potential) with respect thereto (including any accrued interest). 

“Indenture” means this Indenture as amended or supplemented from time to time. 

“Independent Financial Advisor” means an accounting, appraisal, investment banking firm or consultant to Persons engaged in
Similar Businesses of nationally recognized standing; provided, however, that such firm or appraiser is not an Affiliate of the Company. 

“Initial Notes” has the meaning ascribed to it in the second introductory paragraph of this Indenture. 

“Initial Purchasers” means BofA Securities, Inc., Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, RBC
Capital Markets, LLC, Truist Securities, Inc., Wells Fargo Securities, LLC, Huntington Securities, Inc., KeyBanc Capital Markets Inc. and U.S. Bancorp Investments, Inc. 

“Investment” means, with respect to any Person, all investments by such Person in other Persons (including Affiliates) in the
form of advances, loans or other extensions of credit (other than advances or extensions of credit to customers, suppliers, directors, officers or employees of any Person, and excluding any debt or extension of credit represented by a bank deposit
other than a time deposit) or capital contribution to (by means of any transfer of cash or other property to others or any payment for property or services for the account or use of others), or the Incurrence of a Guarantee of any obligation of, or
any purchase or acquisition of Capital Stock, Indebtedness or other similar instruments issued by, such other Persons and all other items that are or would be classified as investments on a balance sheet prepared on the basis of GAAP;
provided, however, that endorsements of negotiable instruments and 

  
 -22- 

 
documents will not be deemed to be an Investment. If the Company or any Restricted Subsidiary issues, sells or otherwise disposes of any Capital Stock of a Person that is a Restricted Subsidiary
such that, after giving effect thereto, such Person is no longer a Restricted Subsidiary, any Investment by the Company or any Restricted Subsidiary in such Person remaining after giving effect thereto will be deemed to be a new Investment at such
time. 
 For purposes of Section 3.3 and Section 3.20 hereof: 

(1) “Investment” will include the portion (proportionate to the Company’s equity interest in a Restricted
Subsidiary to be designated as an Unrestricted Subsidiary) of the fair market value of the net assets of such Restricted Subsidiary of the Company at the time that such Restricted Subsidiary is designated an Unrestricted Subsidiary;
provided, however, that upon a redesignation of such Subsidiary as a Restricted Subsidiary, the Company will be deemed to continue to have a permanent “Investment” in an Unrestricted Subsidiary in an amount (if positive)
equal to (a) the Company’s “Investment” in such Subsidiary at the time of such redesignation less (b) the portion (proportionate to the Company’s equity interest in such Subsidiary) of the fair market value of the net
assets (as determined by the Company) of such Subsidiary at the time that such Subsidiary is so re-designated a Restricted Subsidiary; and 

(2) any property transferred to or from an Unrestricted Subsidiary will be valued at its fair market value at the time of such
transfer, in each case as determined in good faith by the Company. 
 “Investment Grade Securities” means: 

(1) securities issued or directly and fully Guaranteed or insured by the United States, Canadian, Swiss or United Kingdom
government or any agency or instrumentality thereof (other than Cash Equivalents); 
 (2) securities issued or directly and
fully guaranteed or insured by a member of the European Union, or any agency or instrumentality thereof (other than Cash Equivalents); 

(3) debt securities or debt instruments with a rating of “A-” or higher from
S&P or “A3” or higher by Moody’s or the equivalent of such rating by such rating organization or, if no rating of Moody’s or S&P then exists, the equivalent of such rating by any other Nationally Recognized Statistical
Ratings Organization, but excluding any debt securities or instruments constituting loans or advances among the Company and its Subsidiaries; and 

(4) investments in any fund that invests exclusively in investments of the type described in clauses (1), (2) and
(3) above which fund may also hold cash and Cash Equivalents pending investment or distribution. 
 “Investment Grade
Status” shall occur when the Notes receive two of the following: 
 (1) a rating of
“BBB-” or higher from S&P; 
 (2) a rating of “Baa3” or
higher from Moody’s; or 
 (3) a rating of “BBB-” or higher from
Fitch; 
 or the equivalent of such rating by either any rating organization or, if no rating of Moody’s or S&P then exists, the equivalent of such
rating by any other Nationally Recognized Statistical Ratings Organization. 
 “Issue Date” means June 15, 2022. 

“Lien” means any mortgage, pledge, security interest, encumbrance, lien, hypothecation or charge of any kind (including any
conditional sale or other title retention agreement or lease in the nature thereof); provided that in no event shall an operating lease to be deemed to constitute a Lien. 

  
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 “Long Derivative Instrument” means a Derivative Instrument (i) the
value of which generally increases, and/or the payment or delivery obligations under which generally decrease, with positive changes to the Performance References and/or (ii) the value of which generally decreases, and/or the payment or
delivery obligations under which generally increase, with negative changes to the Performance References. 
 “LTM EBITDA”
means Consolidated EBITDA of the Company measured for the period of the most recent four consecutive fiscal quarters ending prior to the date of such determination for which internal consolidated financial statements of the Company are available, in
each case with such pro forma adjustments giving effect to such Indebtedness, acquisition or Investment, as applicable, since the start of such four quarter period and as are consistent with the pro forma adjustments set forth in the definition of
“Fixed Charge Coverage Ratio.” 
 “Management Advances” means loans or advances made to, or Guarantees with
respect to loans or advances made to, directors, officers, employees or consultants (or their respective Controlled Investment Affiliates or Immediate Family Members) of any Parent Entity, the Company or any Restricted Subsidiary: 

(1) (a) in respect of travel, entertainment, relocation or moving related expenses or (b) for purposes of funding any
such person’s purchase of Capital Stock (or similar obligations) of the Company, its Subsidiaries or any Parent Entity with (in the case of this sub-clause (b)) the approval of the Board of
Directors; 
 (2) in respect of relocation, moving related expenses Incurred in connection with any closing or consolidation
of any facility or office; or 
 (3) not exceeding the greater of $360.0 million and 10.0% of LTM EBITDA in the
aggregate outstanding at any time. 
 “Management Stockholders” means the members of management of the Company (or any
Parent Entity) or its Subsidiaries who are holders of Capital Stock of the Company or of any Parent Entity on the Issue Date.  

“Market Capitalization” means an amount equal to (i) the total number of issued and outstanding shares of common Capital
Stock of the Company or any Parent Entity on the date of the declaration of a Restricted Payment permitted pursuant Section 3.3(b)(10) multiplied by (ii) the arithmetic mean of the closing prices per share of such
common Capital Stock on the principal securities exchange on which such common Capital Stock are traded for the 30 consecutive trading days immediately preceding the date of declaration of such Restricted Payment. 

“Moody’s” means Moody’s Investors Service, Inc. or any of its successors or assigns that is a Nationally Recognized
Statistical Rating Organization. 
 “Nationally Recognized Statistical Rating Organization” means a nationally recognized
statistical rating organization within the meaning of Rule 436 under the Securities Act. 
 “Net Available Cash” from
an Asset Disposition means cash payments received (including any cash payments received by way of deferred payment of principal pursuant to a note or installment receivable or otherwise and net proceeds from the sale or other disposition of any
securities received as consideration, but only as and when received, but excluding any other consideration received in the form of assumption by the acquiring person of Indebtedness or other obligations relating to the properties or assets that are
the subject of such Asset Disposition or received in any other non-cash form) therefrom, in each case net of: 

(1) all legal, accounting, investment banking, title and recording tax expenses, commissions and other fees and expenses
Incurred, and all Taxes paid, reasonably estimated to be actually payable or accrued as a liability under GAAP (including, for the avoidance of doubt, any income, withholding and other Taxes payable as a result of the distribution of such proceeds
to the Company and after taking into account any available tax credits or deductions and any tax sharing agreements), as a consequence of such Asset Disposition, including distributions for Related Taxes; 

  
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 (2) all payments made on any Indebtedness which is secured by any assets
subject to such Asset Disposition, in accordance with the terms of any Lien upon such assets, or which by applicable law be repaid out of the proceeds from such Asset Disposition; 

(3) all distributions and other payments required to be made to minority interest holders (other than any Parent Entity, the
Company or any of its respective Subsidiaries) in Subsidiaries or joint ventures as a result of such Asset Disposition; 

(4) the deduction of appropriate amounts required to be provided by the seller as a reserve, on the basis of GAAP, against any
liabilities associated with the assets disposed of in such Asset Disposition and retained by the Company or any Restricted Subsidiary after such Asset Disposition; and 

(5) any funded escrow established pursuant to the documents evidencing such sale or disposition to secure and indemnification
obligation on adjustments to the purchase price associated with any such Asset Disposition. 
 “Net Cash Proceeds,” with
respect to any issuance or sale of Capital Stock, means the cash proceeds of such issuance or sale net of attorneys’ fees, accountants’ fees, underwriters’ or placement agents’ fees, listing fees, discounts or commissions and
brokerage, consultant and other fees and charges actually Incurred in connection with such issuance or sale and net of Taxes paid or reasonably estimated to be actually payable as a result of such issuance or sale (including, for the avoidance of
doubt, any income, withholding and other Taxes payable as a result of the distribution of such proceeds to the Company and after taking into account any available tax credit or deductions and any tax sharing agreements, and including distributions
for Related Taxes). 
 “Net Short” means, with respect to a Holder or beneficial owner, as of a date of determination,
either (i) the value of its Short Derivative Instruments exceeds the sum of the (x) the value of its Notes plus (y) the value of its Long Derivative Instruments as of such date of determination or (ii) it is reasonably expected
that such would have been the case were a Failure to Pay or Bankruptcy Credit Event (each as defined in the 2014 ISDA Credit Derivatives Definitions) to have occurred with respect to the Company or any Guarantor immediately prior to such date of
determination. 
 “Non-Guarantor” means any Restricted Subsidiary of the Company
that is not a Guarantor. 
 “Non-U.S. Person” means a Person who is not a
U.S. Person (as defined in Regulation S). 
 “Note Documents” means the Notes (including Additional Notes), the Note
Guarantees and this Indenture. 
 “Notes” has the meaning ascribed to it in the second introductory paragraph of this
Indenture. 
 “Notes Custodian” means the custodian with respect to the Global Notes (as appointed by DTC), or any
successor Person thereto and shall initially be the Trustee. 
 “Obligations” means any principal, interest (including
interest accruing on or after the filing of any petition in bankruptcy or for reorganization relating to the Company or any Guarantor whether or not a claim for Post-Petition Interest is allowed in such proceedings), penalties, fees,
indemnifications, reimbursements (including, without limitation, reimbursement obligations with respect to letters of credit and bankers’ acceptances), damages and other liabilities payable under the documentation governing any Indebtedness.

 “Offering Circular” means the offering circular, dated June 1, 2022, relating to the offering by the Company of
$700.0 million principal amount of 6.375% Senior Notes due 2032 and any future offering circular relating to Additional Notes. 

“Officer” means, with respect to any Person, (a) the Chairman of the Board of Directors, the Chief Executive Officer,
the President, the Chief Financial Officer, any Vice President, the Treasurer, any Managing Director, or the Secretary (1) of such Person or (2) if such Person is owned or managed by a single entity, of such entity, or (b) any other
individual designated as an “Officer” for the purposes of this Indenture by the Board of Directors of such Person. 

  
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 “Officer’s Certificate” means, with respect to any Person, a
certificate signed by one Officer of such Person. 
 “Opinion of Counsel” means a written opinion from legal counsel who is
reasonably satisfactory to the Trustee. The counsel may be an employee of or counsel to the Company or its Subsidiaries. 
 “Parent
Entity” means any direct or indirect parent of the Company. 
 “Parent Entity Expenses” means: 

(1) costs (including all professional fees and expenses) Incurred by any Parent Entity in connection with reporting obligations
under or otherwise Incurred in connection with compliance with applicable laws, rules or regulations of any governmental, regulatory or self-regulatory body or stock exchange, this Indenture or any other agreement or instrument relating to the
Notes, the Guarantees or any other Indebtedness of the Company or any Restricted Subsidiary, including in respect of any reports filed or delivered with respect to the Securities Act, Exchange Act or the respective rules and regulations promulgated
thereunder; 
 (2) customary indemnification obligations of any Parent Entity owing to directors, officers, employees or
other Persons under its articles, charter, by-laws, partnership agreement or other organizational documents or pursuant to written agreements with any such Person to the extent relating to the Company and its
Subsidiaries; 
 (3) obligations of any Parent Entity in respect of director and officer insurance (including premiums
therefor) to the extent relating to the Company and its Subsidiaries; 
 (4) (x) general corporate overhead expenses,
including professional fees and expenses and (y) other operational expenses of any Parent Entity related to the ownership or operation of the business of the Company or any of its Restricted Subsidiaries; 

(5) expenses Incurred by any Parent Entity in connection with any offering, sale, conversion or exchange of Capital Stock or
Indebtedness; and 
 (6) amounts to finance Investments that would otherwise be permitted to be made pursuant to
Section 3.3 if made by the Company; provided, that (A) such Restricted Payment shall be made substantially concurrently with the closing of such Investment, (B) such direct or indirect parent company shall,
immediately following the closing thereof, cause (1) all property acquired (whether assets or Capital Stock) to be contributed to the capital of the Company or one of its Restricted Subsidiaries or (2) the merger, consolidation or
amalgamation of the Person formed or acquired into the Company or one of its Restricted Subsidiaries (to the extent not prohibited by Section 4.1) in order to consummate such Investment, (C) such direct or indirect
parent company and its Affiliates (other than the Company or a Restricted Subsidiary) receives no consideration or other payment in connection with such transaction except to the extent the Company or a Restricted Subsidiary could have given such
consideration or made such payment in compliance with this Indenture and such consideration or other payment is included as a Restricted Payment under this Indenture, (D) any property received by the Company shall not increase amounts available
for Restricted Payments pursuant to Section 3.3(a)(iii) and (E) such Investment shall be deemed to be made by the Company or such Restricted Subsidiary pursuant to another provision of this covenant or pursuant to the
definition of “Permitted Investment.” 
 “Pari Passu Indebtedness” means Indebtedness of the Company which ranks
equally in right of payment to the Notes or of any Guarantor if such Indebtedness ranks equally in right of payment to the Guarantees of the Notes. 

“Paying Agent” means any Person authorized by the Company to pay the principal of (and premium, if any) or interest on any
Note on behalf of the Company. 

  
 -26- 

 “Permitted Asset Swap” means the concurrent purchase and sale or exchange
of assets used or useful in a Similar Business or a combination of such assets and cash, Cash Equivalents between the Company or any of its Restricted Subsidiaries and another Person; provided that any cash or Cash Equivalents received in
excess of the value of any cash or Cash Equivalents sold or exchanged must be applied in accordance with Section 3.5. 

“Permitted Change of Control” means any Change of Control that does not constitute a Change of Control Triggering Event. 

“Permitted Change of Control Costs” means all fees, costs and expenses incurred or payable by the Company, any Parent Entity
or any of its Restricted Subsidiaries in connection with a Permitted Change of Control. 
 “Permitted Holders” means,
collectively, (a) the Sponsor, (b) any one or more Persons, together with such Persons’ Affiliates, whose beneficial ownership constitutes or results in (x) a Change of Control in respect of which a Change of Control Offer is
made or waived in accordance with the requirements of this Indenture or (y) a Permitted Change of Control, (c) the Management Stockholders, (d) any Person who is acting solely as an underwriter in connection with a public or private
offering of Capital Stock of any Parent Entity or the Company, acting in such capacity 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, Persons referred to in clauses (a) through (d), collectively, have beneficial ownership of more
than 50.0% of the total voting power of the Voting Stock of the Company or any Parent Entity held by such group. 
 “Permitted
Investment” means (in each case, by the Company or any of its Restricted Subsidiaries): 
 (1) Investments in
(a) a Restricted Subsidiary (including the Capital Stock of a Restricted Subsidiary) or the Company or (b) a Person (including the Capital Stock of any such Person) that will, upon the making of such Investment, become a Restricted
Subsidiary; 
 (2) Investments in another Person if such Person is engaged in any Similar Business and as a result of such
Investment such other Person is merged, amalgamated, consolidated or otherwise combined with or into, or transfers or conveys all or substantially all its assets to, the Company or a Restricted Subsidiary; 

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

(4) Investments in receivables owing to the Company or any Restricted Subsidiary; 

(5) Investments in payroll, travel and similar advances to cover matters that are expected at the time of such advances
ultimately to be treated as expenses for accounting purposes; 
 (6) Management Advances; 

(7) Investments received in settlement, compromise or resolution of debts created in the ordinary course of business or
consistent with past practice and owing to the Company or any Restricted Subsidiary or in exchange for any other Investment or accounts receivable, endorsements for collection or deposit held by the Company or any such Restricted Subsidiary, or as a
result of foreclosure, perfection or enforcement of any Lien, or in satisfaction of judgments or pursuant to any plan of reorganization or similar arrangement including upon the bankruptcy or insolvency of a debtor or litigation, arbitration or
other disputes or otherwise with respect to any secured Investment or other transfer of title with respect to any secured Investment in default; 

(8) Investments made as a result of the receipt of promissory notes or other non-cash
consideration (including earn-outs) from a sale or other disposition of property or assets, including an Asset Disposition; 

  
 -27- 

 (9) Investments existing or pursuant to binding commitments, agreements or
arrangements in effect on the Issue Date and any modification, replacement, renewal, reinvestment or extension thereof; provided that the amount of any such Investment may not be increased except (a) as required by the terms of such Investment
or binding commitment as in existence on the Issue Date or (b) as otherwise permitted under this Indenture; 
 (10)
Hedging Obligations, which transactions or obligations are Incurred in compliance with Section 3.2; 

(11) pledges or deposits with respect to leases or utilities provided to third parties or Liens otherwise described in the
definition of “Permitted Liens” or made in connection with Liens permitted under Section 3.6; 

(12) any Investment to the extent made using Capital Stock of the Company (other than Disqualified Stock) or Capital Stock of
any Parent Entity as consideration; 
 (13) any transaction to the extent constituting an Investment that is permitted and
made in accordance with Section 3.8(b) (except those described in Sections 3.8(b)(1), (3), (6), (7), (8), (9), (12) and (14)); 

(14) Investments consisting of purchases and acquisitions of inventory, supplies, materials and equipment or licenses or leases
of intellectual property; 
 (15) (i) Guarantees of Indebtedness not prohibited by Section 3.2
and (other than with respect to Indebtedness) guarantees, keepwells and similar arrangements, and (ii) performance guarantees with respect to obligations that are not prohibited by this Indenture; 

(16) Investments consisting of earnest money deposits required in connection with a purchase agreement, or letter of intent, or
other acquisitions to the extent not otherwise prohibited by this Indenture; 
 (17) Investments of a Restricted Subsidiary
acquired after the Issue Date or of an entity merged or amalgamated into the Company or merged or amalgamated into or consolidated with a Restricted Subsidiary after the Issue Date to the extent that such Investments were not made in contemplation
of or in connection with such acquisition, merger, amalgamation or consolidation and were in existence on the date of such acquisition, merger, amalgamation or consolidation; 

(18) Investments consisting of licensing or contribution of intellectual property pursuant to joint marketing arrangements with
other Persons; 
 (19) contributions to a “rabbi” trust for the benefit of employees or other grantor trust subject
to claims of creditors in the case of a bankruptcy of the Company; 
 (20) Investments in joint ventures and similar entities
and Unrestricted Subsidiaries having an aggregate fair market value, when taken together with all other Investments made pursuant to this clause that are at the time outstanding, not to exceed the greater of $900.0 million and 25.0% of LTM
EBITDA at the time of such Investment (with the fair market value of each Investment being measured at the time made and without giving effect to subsequent changes in value); 

(21) additional Investments having an aggregate fair market value, taken together with all other Investments made pursuant to
this clause (21) that are at that time outstanding, not to exceed the greater of $1,800.0 million and 50.0% of LTM EBITDA (with the fair market value of each Investment being measured at the time made and without giving effect to
subsequent changes in value) plus the amount of any returns (including dividends, payments, interest, distributions, returns of principal, profits on sale, repayments, income and similar amounts) in respect of such Investments (without
duplication for purposes of Section 3.3 of any amounts applied pursuant to Section 3.3(a)(iii)); provided that if such Investment is in Capital Stock of a Person that subsequently becomes a
Restricted Subsidiary, such Investment shall thereafter be deemed permitted under clause (1) or (2) above and shall not be included as having been made pursuant to this clause (21); 

  
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 (22) any Investment in a Similar Business having an aggregate fair market
value, taken together with all other Investments made pursuant to this clause that are at that time outstanding, not to exceed the greater of $900.0 million and 25.0% of LTM EBITDA (with the fair market value of each Investment being measured
at the time made and without giving effect to subsequent changes in value) plus the amount of any distributions, dividends, payments or other returns in respect of such Investments (without duplication for purposes of
Section 3.3 of any amounts applied pursuant to Section 3.3(a)(iii)); provided that if such Investment is in Capital Stock of a Person that subsequently becomes a Restricted Subsidiary, such
Investment shall thereafter be deemed permitted under clause (1) or (2) above and shall not be included as having been made pursuant to this clause; 

(23) Investments relating to a Receivables Subsidiary that, in the good faith determination of the Company, are necessary or
advisable to effect any Receivables Facility or any repurchase in connection therewith; 
 (24) Investments in connection
with the Acquisition Transactions; 
 (25) repurchases of Notes or Existing Notes; 

(26) Investments by an Unrestricted Subsidiary entered into prior to the day such Unrestricted Subsidiary is redesignated as a
Restricted Subsidiary as described under Section 3.20; 
 (27) transactions entered into in order
to consummate a Permitted Tax Restructuring; and 
 (28) any other Investment so long as, immediately after giving pro forma
effect to the Investment and the incurrence of any Indebtedness the net proceeds of which are used to make such Investment, the Consolidated Total Leverage Ratio shall be no greater than 4.25 to 1.00. 

“Permitted Liens” means, with respect to any Person: 

(1) Liens on assets or property of a Restricted Subsidiary that is not a Guarantor securing Indebtedness of any Restricted
Subsidiary that is not a Guarantor; 
 (2) pledges, deposits or Liens under workmen’s compensation laws, payroll taxes,
unemployment insurance laws, social security laws or similar legislation, or insurance related obligations (including pledges or deposits securing liability to insurance carriers under insurance or
self-insurance arrangements), or in connection with bids, tenders, completion guarantees, contracts (other than for borrowed money) or leases, or to secure utilities, licenses, public or statutory obligations,
or to secure the performance of bids, trade contracts, government contracts and leases, statutory obligations, surety, stay, indemnity, warranty, release, judgment, customs, appeal or performance bonds, return-of-money bonds, bankers’ acceptance facilities (or other similar bonds, instruments or obligations), obligations in respect of letters of credit, bank guarantees or similar instruments that have
been posted to support the same or as security for contested taxes or import or customs duties or for the payment of rent, or other obligations of like nature; 

(3) Liens with respect to outstanding motor vehicle fines and Liens imposed by law or regulation, including carriers’,
warehousemen’s, mechanics’, landlords’, suppliers’, materialmen’s, repairmen’s, architects’, construction contractors’ or other like Liens, in each case for sums not yet overdue for a period of more than
60 days or that are bonded or being contested in good faith by appropriate proceedings; 

  
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 (4) Liens for Taxes, assessments or governmental charges which are not
overdue for a period of more than 30 days or which are being contested in good faith by appropriate proceedings diligently conducted; provided that appropriate reserves required pursuant to GAAP (or other applicable accounting principles)
have been made in respect thereof; 
 (5) encumbrances, charges, ground leases, easements (including reciprocal easement
agreements), survey exceptions, restrictions, encroachments, protrusions, by-law, regulation, zoning restrictions or reservations of, or rights of others for, licenses, rights of way, servitudes, sewers,
electric lines, drains, telegraph, telephone and cable television lines and other similar purposes, or zoning, building codes or other restrictions (including minor defects or irregularities in title and similar encumbrances) as to the use of real
properties or Liens incidental to the conduct of the business of the Company and its Restricted Subsidiaries or to the ownership of their properties, including servicing agreements, development agreements, site plan agreements, subdivision
agreements, facilities sharing agreements, cost sharing agreement and other agreements, which do not in the aggregate materially adversely affect the value of said properties or materially impair their use in the operation of the business of the
Company and its Restricted Subsidiaries; 
 (6) Liens (a) on assets or property of the Company or any Restricted
Subsidiary securing Hedging Obligations or Cash Management Services permitted under this Indenture; (b) that are contractual rights of set-off or, in the case of clause (i) or (ii) below, other
bankers’ Liens (i) relating to treasury, depository and cash management services or any automated clearing house transfers of funds not given in connection with the issuance of Indebtedness, (ii) relating to pooled deposit or sweep
accounts to permit satisfaction of overdraft or similar obligations or (iii) relating to purchase orders and other agreements entered into with customers of the Company or any Restricted Subsidiary; (c) on cash accounts securing
Indebtedness incurred under Section 3.2(b)(8)(iii) with financial institutions; (d) encumbering reasonable customary initial deposits and margin deposits and similar Liens attaching to commodity trading accounts or
other brokerage accounts not for speculative purposes; and/or (e) (i) of a collection bank arising under Section 4-210 of the UCC on items in the course of collection and (ii) in favor of a
banking institution arising as a matter of law encumbering deposits (including the right of set-off) arising in connection with the maintenance of such accounts and (iii) arising under customary general
terms of the account bank in relation to any bank account maintained with such bank and attaching only to such account and the products and proceeds thereof, which Liens, in any event, do not to secure any Indebtedness; 

(7) leases, licenses, subleases and sublicenses of assets (including real property and intellectual property rights), in each
case entered into in the ordinary course of business; 
 (8) Liens securing or otherwise arising out of judgments, decrees,
attachments, orders or awards not giving rise to an Event of Default so long as (a) any appropriate legal proceedings which may have been duly initiated for the review of such judgment, decree, order or award have not been finally terminated,
(b) the period within which such proceedings may be initiated has not expired or (c) no more than 60 days have passed after (i) such judgment, decree, order or award has become final or (ii) such period within which such
proceedings may be initiated has expired; 
 (9) Liens (i) on assets or property of the Company or any Restricted
Subsidiary for the purpose of securing Finance Lease Obligations or Purchase Money Obligations, or securing the payment of all or a part of the purchase price of, or securing other Indebtedness Incurred to finance or refinance the acquisition,
improvement or construction of, assets or property acquired or constructed; provided that (a) the aggregate principal amount of Indebtedness secured by such Liens is otherwise permitted to be Incurred under this Indenture and
(b) any such Liens may not extend to any assets or property of the Company or any Restricted Subsidiary other than assets or property acquired, improved, constructed or leased with the proceeds of such Indebtedness and any improvements or
accessions to such assets and property and (ii) on any interest or title of a lessor under any Finance Lease Obligations or operating lease; 

(10) Liens perfected or evidenced by UCC financing statement filings, including precautionary UCC financing statements (or
similar filings in other applicable jurisdictions) regarding operating leases entered into by the Company and its Restricted Subsidiaries; 

  
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 (11) Liens existing on the Issue Date, excluding Liens securing the ABL or
the Existing Secured Notes; 
 (12) Liens on property, other assets or shares of stock of a Person at the time such Person
becomes a Restricted Subsidiary (or at the time the Company or a Restricted Subsidiary acquires such property, other assets or shares of stock, including any acquisition by means of a merger, amalgamation, consolidation or other business combination
transaction with or into the Company or any Restricted Subsidiary); provided, however, that such Liens are not created, Incurred or assumed in anticipation of or in connection with such other Person becoming a Restricted Subsidiary (or
such acquisition of such property, other assets or stock); provided, further, that such Liens are limited to all or part of the same property, other assets or stock (plus improvements, accession, proceeds or dividends or distributions
in connection with the original property, other assets or stock) that secured (or, under the written arrangements under which such Liens arose, could secure) the obligations to which such Liens relate; 

(13) Liens on assets or property of the Company or any Restricted Subsidiary securing Indebtedness or other obligations of the
Company or such Restricted Subsidiary owing to the Company or another Restricted Subsidiary, or Liens in favor of the Company or any Restricted Subsidiary; 

(14) Liens securing Refinancing Indebtedness Incurred to refinance Indebtedness that was previously so secured, and permitted
to be secured under this Indenture; provided that any such Lien is limited to all or part of the same property or assets (plus improvements, accessions, proceeds or dividends or distributions in respect thereof) that secured (or, under the
written arrangements under which the original Lien arose, could secure) the Indebtedness being refinanced or is in respect of property that is or could be the security for or subject to a Permitted Lien hereunder; 

(15) (a) mortgages, liens, security interests, restrictions, encumbrances or any other matters of record that have been placed
by any government, statutory or regulatory authority, developer, landlord or other third party on property over which the Company or any Restricted Subsidiary of the Company has easement rights or on any leased property and subordination or similar
arrangements relating thereto and (b) any condemnation or eminent domain proceedings affecting any real property; 

(16) (i) any encumbrance or restriction (including put and call arrangements) with respect to Capital Stock of any joint
venture securing financing arrangement, joint venture or similar arrangement pursuant to any joint venture securing financing agreement, joint venture or similar agreement and (ii) customary rights of first refusal and tag, drag and similar
rights in joint venture agreements and agreements with respect to non-wholly owned Subsidiaries; 

(17) Liens on property or assets under construction (and related rights) in favor of a contractor or developer or arising from
progress or partial payments by a third party relating to such property or assets; 
 (18) Liens arising out of conditional
sale, title retention, hire purchase, consignment or similar arrangements for the sale of goods; 
 (19) Liens securing
Indebtedness permitted to be Incurred pursuant to Sections 3.2(b)(1), (14) or (19) (provided that, in the case of Section 3.2(b)(19), such Liens are limited to all or part of the equipment
acquired with the proceeds of such Indebtedness); 
 (20) Liens to secure Indebtedness permitted by
Section 3.2(b)(5); provided that such Liens shall only be permitted if (x) such Liens are limited to all or part of the same property or assets, including Capital Stock (plus improvements, accessions, proceeds
or dividends or distributions in respect thereof, or replacements of any thereof) acquired, or of any Person acquired or merged, consolidated or amalgamated with or into the Company or any Restricted Subsidiary, in any transaction to which such
Indebtedness relates or (y) on the date of the Incurrence of such Indebtedness after giving effect to such Incurrence, the Consolidated Secured Leverage Ratio would equal or be less than the Consolidated Secured Leverage Ratio immediately prior
to giving effect thereto; 

  
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 (21) Liens Incurred to secure Obligations in respect of any Indebtedness
permitted by Sections 3.2(b)(7) or (20); 
 (22) Liens to secure Indebtedness of any Non-Guarantor covering only the assets of such Subsidiary; 
 (23) Liens on Capital Stock
or other securities or assets of any Unrestricted Subsidiary that secure Indebtedness of such Unrestricted Subsidiary; 

(24) any security granted over the marketable securities portfolio described in clause (9) of the definition of
“Cash Equivalents” in connection with the disposal thereof to a third party; 
 (25) Liens on (i) goods the
purchase price of which is financed by a documentary letter of credit issued for the account of the Company or any Restricted Subsidiary 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 and (ii) specific items of inventory of other goods and proceeds of any Person securing such Person’s obligations in respect of
bankers’ acceptances issued or created for the account of such Person to facilitate the purchase, shipment or storage of such inventory or other goods; 

(26) Liens on equipment of the Company or any Restricted Subsidiary and located on the premises of any client or supplier or
vehicles; 
 (27) Liens on assets or securities deemed to arise in connection with and solely as a result of the execution,
delivery or performance of contracts to sell such assets or securities if such sale is otherwise not prohibited by this Indenture; 

(28) Liens arising by operation of law or contract on insurance policies and the proceeds thereof to secure premiums
thereunder, and Liens, pledges and deposits securing liability for premiums or reimbursement or indemnification obligations of (including obligations in respect of letters of credit or bank guarantees for the benefits of) insurance carriers; 

(29) Liens solely on any cash earnest money deposits made in connection with any letter of intent or purchase agreement
permitted under this Indenture; 
 (30) Liens (i) on cash advances in favor of the seller of any property to be
acquired in an Investment permitted pursuant to Permitted Investments to be applied against the purchase price for such Investment, and (ii) consisting of an agreement to sell any property in an asset sale permitted under
Section 3.5, 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; 

(31) Liens securing Indebtedness and other obligations in an aggregate principal amount not to exceed the greater of
$900.0 million and 25.0% of LTM EBITDA at any one time outstanding; 
 (32) Liens then existing with respect to assets
of an Unrestricted Subsidiary on the day such Unrestricted Subsidiary is redesignated as a Restricted Subsidiary pursuant to Section 3.20; 

(33) Liens Incurred to secure Obligations in respect of any Indebtedness permitted to be Incurred pursuant to the covenant
described under Section 3.2; provided that with respect to liens securing obligations permitted under this clause, at the time of Incurrence and after giving pro forma effect thereto, the Consolidated Secured
Leverage Ratio would be no greater than 4.00 to 1.00; 
 (34) Liens deemed to exist in connection with Investments in
repurchase agreements permitted under Section 3.2 provided that such Liens do not extend to any assets other than those that are the subject of such repurchase agreement; 

  
 -32- 

 (35) Liens on accounts receivable and related assets incurred in connection
with a Receivables Facility; 
 (36) Settlement Liens; 

(37) rights of recapture of unused real property in favor of the seller of such property set forth in customary purchase
agreements and related arrangements with any government, statutory or regulatory authority; 
 (38) the rights reserved to
or vested in any Person or government, statutory or regulatory authority by the terms of any lease, license, franchise, grant or permit held by the Company or any Restricted Subsidiary 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; 

(39) restrictive covenants affecting the use to which real property may be put; 

(40) Liens or covenants restricting or prohibiting access to or from lands abutting on controlled access highways or covenants
affecting the use to which lands may be put; provided that such Liens or covenants do not interfere with the ordinary conduct of the business of the Company or any Restricted Subsidiary; 

(41) Liens arising in connection with any Permitted Tax Restructuring or any Intercompany License Agreements; or 

(42) Liens securing obligations pursuant to the Existing Notes. 

In the event that a Permitted Lien meets the criteria of more than one of the types of Permitted Liens (at the time of Incurrence or at a
later date), the Company in its sole discretion may divide, classify or from time to time reclassify all or any portion of such Permitted Lien in any manner that complies with Section 3.6 and such Permitted Lien shall be
treated as having been made pursuant only to the clause or clauses of the definition of “Permitted Lien” to which such Permitted Lien has been classified or reclassified. 

“Permitted Tax Distribution” means: 

(a) if and for so long as the Company is a member of a group filing a consolidated or combined tax return with any Parent
Entity, any dividends or other distributions to fund any income Taxes for which such Parent Entity is liable up to an amount not to exceed with respect to such Taxes the amount of any such Taxes that the Company and its Subsidiaries would have been
required to pay on a separate company basis or on a consolidated basis calculated as if the Company and its Subsidiaries had paid Tax on a consolidated, combined, group, affiliated or unitary basis on behalf of an affiliated group consisting only of
the Company and its Subsidiaries; and 
 (b) for any taxable year (or portion thereof) ending after the Issue Date for which
the Company is treated as a disregarded entity, partnership, or other flow-through entity for federal, state, provincial, territorial, and/or local income Tax purposes, the payment of dividends or other distributions to the Company’s direct
owner(s) to fund the income Tax liability of such owner(s) (or, if a direct owner is a pass-through entity, of the indirect owner(s)) for such taxable year (or portion thereof) attributable to the operations and activities of the Company and its
direct and indirect Subsidiaries, in an aggregate amount not the exceed the product of (x) the highest combined marginal federal and applicable state, provincial, territorial, and/or local statutory income Tax rate (after taking into account
the deductibility of U.S. state and local income Tax for U.S. federal income Tax purposes) and (y) the taxable income of the Company for such taxable year (or portion thereof). 

  
 -33- 

 “Permitted Tax Restructuring” means any reorganizations and other
activities related to tax planning and tax reorganization (as determined by the Company in good faith) so long as such Permitted Tax Restructuring is not materially adverse to the Holders of the Notes. 

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

“Post-Petition Interest” means any interest or entitlement to fees or expenses or other charges that accrue after the
commencement of any bankruptcy or insolvency proceeding, whether or not allowed or allowable as a claim in any such bankruptcy or insolvency proceeding. 

“Predecessor Note” of any particular Note means every previous Note evidencing all or a portion of the same debt as that
evidenced by such particular Note; and, for the purposes of this definition, any Note authenticated and delivered under Section 2.11 in exchange for or in lieu of a mutilated, destroyed, lost or stolen Note shall be deemed
to evidence the same debt as the mutilated, destroyed, lost or stolen Note. 
 “Preferred Stock,” as applied to the Capital
Stock of any Person, means Capital Stock of any class or classes (however designated) which is preferred as to the payment of dividends or as to the distribution of assets upon any voluntary or involuntary liquidation or dissolution of such Person,
over shares of Capital Stock of any other class of such Person. 
 “ProBuild” means ProBuild Holdings LLC, a
Delaware limited liability company. 
 “Public Company Costs” means, as to any Person, costs associated with, or in
anticipation of, or preparation for, compliance with the requirements of the Sarbanes-Oxley Act of 2002 and the rules and regulations promulgated in connection therewith and costs relating to compliance with the provisions of the Securities Act and
the Exchange Act or any other comparable body of laws, rules or regulations, as companies with listed equity, directors’ compensation, fees and expense reimbursement, costs relating to enhanced accounting functions and investor relations,
shareholder meetings and reports to shareholders, directors’ and officers’ insurance and other executive costs, legal and other professional fees, and listing fees, in each case to the extent arising solely by virtue of the listing of such
Person’s equity securities on a national securities exchange or issuance of public debt securities. 
 “Purchase Money
Obligations” means any Indebtedness Incurred to finance or refinance the acquisition, leasing, expansion, construction, installation, replacement, repair or improvement of property (real or personal), equipment or assets (including Capital
Stock), and whether acquired through the direct acquisition of such property or assets, or the acquisition of the Capital Stock of any Person owning such property or assets, or otherwise. 

“QIB” means any “qualified institutional buyer” as such term is defined in Rule 144A. 

“Rating Agency” means (1) each of Fitch, Moody’s and S&P and (2) if Fitch, Moody’s or S&P ceases
to rate the Notes for reasons outside of the Company’s control, a Nationally Recognized Statistical Rating Organization selected by the Company as a replacement agency for Fitch, Moody’s or S&P, as the case may be. 

“Ratings Decline Period” means the period that (i) begins on the earlier of (a) the occurrence of a Change of
Control or (b) the first public notice of the intention by the Company to affect a Change of Control and (ii) ends 60 days following the consummation of such Change of Control; provided, that such period will be extended so long as
the rating of the Notes is under publicly announced consideration for a possible downgrade by any of the Rating Agencies. 

“Ratings Event” means (x) a downgrade by one or more gradations (including gradations within ratings categories as well
as between categories) or withdrawal of the rating of the Notes within the Ratings Decline Period by two or more Rating Agencies if the applicable Rating Agencies shall have put forth a public statement to the effect that such downgrade or
withdrawal is attributable in whole or in part to the applicable Change of Control and (y) the Notes do not have an Investment Grade Status from any one of the Rating Agencies at such time. 

  
 -34- 

 “Receivables Facility” means any of one or more receivables 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 or any of its Restricted Subsidiaries (other than a Receivables Subsidiary) pursuant to which the Company or any of its Restricted Subsidiaries sells its accounts receivable 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” means any Subsidiary formed for the purpose of, and that solely engages only in one or more
Receivables Facilities and other activities reasonably related thereto. 
 “Refinance” means refinance, refund, replace,
renew, repay, modify, restate, defer, substitute, supplement, reissue, resell, extend or increase (including pursuant to any defeasance or discharge mechanism) and the terms “refinances,” “refinanced” and
“refinancing” as used for any purpose in this Indenture shall have a correlative meaning. 
 “Refinancing
Indebtedness” means Indebtedness that is Incurred to refund, refinance, replace, exchange, renew, repay or extend (including pursuant to any defeasance or discharge mechanism) any Indebtedness existing on the Issue Date or Incurred in
compliance with this Indenture (including Indebtedness of the Company that refinances Indebtedness of any Restricted Subsidiary and Indebtedness of any Restricted Subsidiary that refinances Indebtedness of the Company or another Restricted
Subsidiary) including Indebtedness that refinances Refinancing Indebtedness; provided, however, that: 
 (1)
(a) such Refinancing Indebtedness 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, Disqualified Stock or
Preferred Stock being refunded or refinanced; and (b) to the extent such Refinancing Indebtedness refinances Subordinated Indebtedness, Disqualified Stock or Preferred Stock, such Refinancing Indebtedness is Subordinated Indebtedness,
Disqualified Stock or Preferred Stock, respectively, and, in the case of Subordinated Indebtedness, is subordinated to the Notes on terms at least as favorable to the Holders as those contained in the documentation governing the Indebtedness being
refinanced; 
 (2) Refinancing Indebtedness shall not include: 

(i) Indebtedness, Disqualified Stock or Preferred Stock of a Subsidiary of the Company that is not the Company or a Guarantor
that refinances Indebtedness, Disqualified Stock or Preferred Stock of the Company or a Guarantor; or 
 (ii) Indebtedness,
Disqualified Stock or Preferred Stock of the Company or a Restricted Subsidiary that refinances Indebtedness, Disqualified Stock or Preferred Stock of an Unrestricted Subsidiary; and 

(3) such Refinancing Indebtedness has an aggregate principal amount (or if Incurred with original issue discount, an aggregate
issue price) that is equal to or less than the aggregate principal amount (or if Incurred with original issue discount, the aggregate accreted value) then outstanding (plus fees and expenses, including any premium and defeasance costs) under the
Indebtedness being Refinanced. 
 Refinancing Indebtedness in respect of any Credit Facility or any other Indebtedness may be Incurred from
time to time after the termination, discharge or repayment of any such Credit Facility or other Indebtedness. 

“Regulation S” means Regulation S under the Securities Act. 

  
 -35- 

“Regulation S-X” means
Regulation S-X under the Securities Act. 
 “Related Person” means, with
respect to any specified Person, such Person’s Affiliates and the respective officers, directors, employees, agents, advisors and attorneys-in-fact of such Person
and its Affiliates. 
 “Related Taxes” means: 

(1) any Taxes, including sales, use, transfer, rental, ad valorem, value added, stamp, property, consumption, franchise,
license, capital, registration, business, customs, net worth, gross receipts, excise, occupancy, intangibles or similar Taxes and other similar fees and expenses (other than (x) Taxes measured by income and (y) withholding Taxes), required
to be paid (provided such Taxes are in fact paid) by any Parent Entity by virtue of its: 
 (a) being organized or
having Capital Stock outstanding (but not by virtue of owning stock or other equity interests of any corporation or other entity other than, directly or indirectly, the Company or any of the Company’s Subsidiaries) or otherwise maintain its
existence or good standing under applicable law; 
 (b) being a holding company parent, directly or indirectly, of the
Company or any of the Company’s Subsidiaries; 
 (c) receiving dividends from or other distributions in respect of the
Capital Stock of, directly or indirectly, the Company or any of the Company’s Subsidiaries; or 
 (d) having made any
payment in respect to any of the items for which the Company is permitted to make payments to any Parent Entity pursuant to Section 3.3; or 

(2) any Permitted Tax Distribution. 

“Reserved Indebtedness Amount” has the meaning set forth in Section 3.2(c)(9). 

“Restricted Investment” means any Investment other than a Permitted Investment. 

“Restricted Notes” means Initial Notes and Additional Notes bearing one of the restrictive legends described in
Section 2.1(d). 
 “Restricted Notes Legend” means the legend set forth in
Section 2.1(d)(1). 
 “Restricted Subsidiary” means any Subsidiary of the Company other than an
Unrestricted Subsidiary. 
 “Reversion Date” means, during any period of time during which the Company and the Restricted
Subsidiaries are not subject to Sections 3.2, 3.3, 3.4, 3.5, 3.7, 3.8 and 4.1(a)(3) (collectively, the “Suspended Covenants”) as a result of a Covenant Suspension,
the date on which the Notes cease to have Investment Grade Status, and after which date the Suspended Covenants will thereafter be reinstated as if such covenants had never been suspended and such Suspended Covenants will be applicable pursuant to
the terms of this Indenture (including in connection with performing any calculation or assessment to determine compliance with the terms of this Indenture). 

“Rule 144A” means Rule 144A under the Securities Act. 

“S&P” means Standard & Poor’s Investors Ratings Services or any of its successors or assigns that is a
Nationally Recognized Statistical Rating Organization. 
 “Sale and Leaseback Transaction” means any arrangement providing
for the leasing by the Company or any of its Restricted Subsidiaries of any real or tangible personal property, which property has been or is to be sold or transferred by the Company or such Restricted Subsidiary to a third Person in contemplation
of such leasing. 

  
 -36- 

 “Screened Affiliate” means any Affiliate of a Holder (i) that makes
investment decisions independently from such Holder and any other Affiliate of such Holder that is not a Screened Affiliate, (ii) that has in place customary information screens between it and such Holder and any other Affiliate of such Holder
that is not a Screened Affiliate and such screens prohibit the sharing of information with respect to the Company or its Subsidiaries, (iii) whose investment policies are not directed by such Holder or any other Affiliate of such Holder that is
acting in concert with such Holder in connection with its investment in the Notes, and (iv) whose investment decisions are not influenced by the investment decisions of such Holder or any other Affiliate of such Holder that is acting in concert
with such Holders in connection with its investment in the Notes. 
 “SEC” means the U.S. Securities and Exchange
Commission or any successor thereto. 
 “Secured Indebtedness” means any Indebtedness secured by a Lien. 

“Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations of the SEC promulgated
thereunder, as amended. 
 “Securities Purchase Agreement” means the Securities Purchase Agreement, dated as of
April 13, 2015, by and among the Company, ProBuild and the holders of securities of ProBuild named as parties thereto. 

“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.

 “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. 
 “Settlement Receivable” means any general
intangible, payment intangible, or instrument representing or reflecting an obligation to make payments to or for the benefit of a Person in consideration for a Settlement made or arranged, or to be made or arranged, by such Person. 

“Short Derivative Instrument” means a Derivative Instrument (a) the value of which generally decreases, and/or the
payment or delivery obligations under which generally increase, with positive changes to the Performance References and/or (b) the value of which generally increases, and/or the payment or delivery obligations under which generally decrease,
with negative changes to the Performance References. 
 “Significant Subsidiary” means any Restricted Subsidiary that would
be a “significant subsidiary” as defined in Article 1, Rule 1-02(w)(1)(ii) of Regulation S-X, promulgated pursuant to the Securities Act, as
such regulation is in effect on the Issue Date. 
 “Similar Business” means (a) any businesses, services or activities
engaged in by the Company or any of its Subsidiaries or any Associates on the Issue Date and (b) any businesses, services and activities engaged in by the Company or any of its Subsidiaries or any Associates that are related, complementary,
incidental, ancillary or similar to any of the foregoing or are extensions or developments of any thereof. 

  
 -37- 

 “Sponsor” means JLL Partners, Inc. and its Affiliates, including any funds,
partnerships or other investment vehicles or Subsidiaries managed or directly or indirectly controlled by them but not including, however, any portfolio companies of the foregoing. 

“Stated Maturity” means, with respect to any security, the date specified in such security as the fixed date on which the
payment of principal of such security is due and payable, including pursuant to any mandatory redemption provision, but shall not include any contingent obligations to repay, redeem or repurchase any such principal prior to the date originally
scheduled for the payment thereof. 
 “Subordinated Indebtedness” means, with respect to any person, any Indebtedness
(whether outstanding on the Issue Date or thereafter Incurred) which is expressly subordinated in right of payment to the Notes pursuant to a written agreement. 

“Subsidiary” means, with respect to any Person: 

(1) any corporation, association, or other business entity (other than a partnership, joint venture, limited liability company
or similar entity) of which more than 50.0% of the total voting power of shares of Capital Stock entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers or trustees thereof is at the time of
determination owned or controlled, directly or indirectly, by such Person or one or more of the other Subsidiaries of that Person or a combination thereof; or 

(2) any partnership, joint venture, limited liability company or similar entity of which: 

(a) more than 50.0% of the capital accounts, distribution rights, total equity and voting interests or general or 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 thereof whether in the form of membership, general, special or limited
partnership interests or otherwise; and 
 (b) such Person or any Subsidiary of such Person is a controlling general partner
or otherwise controls such entity. 
 “Taxes” means all present and future taxes, levies, imposts, deductions, charges,
duties and withholdings and any charges of a similar nature (including interest, penalties and other liabilities with respect thereto) that are imposed by any government or other taxing authority. 

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

“Total Assets” means, as of any date, the total consolidated assets of the Company and its Restricted Subsidiaries on a
consolidated basis, as shown on the most recent consolidated balance sheet of the Company and its Restricted Subsidiaries, determined on a pro forma basis in a manner consistent with the pro forma basis contained in the definition of
“Fixed Charge Coverage Ratio.” 
 “Transactions” means the issuance of the Notes, the repayment of existing
indebtedness and other related transactions and use of proceeds (including the redemption of the 2027 Notes), in each case, as described in the Offering Circular. 

“Trust Officer” means, when used with respect to the Trustee, any officer within the corporate trust department of the
Trustee, including any vice president, assistant vice president, assistant secretary, assistant treasurer, trust officer or any other officer of the Trustee who customarily performs functions similar to those performed by the Persons who at the time
shall be such officers, respectively, or to whom any corporate trust matter relating to this Indenture is referred because of such Person’s knowledge of and familiarity with the particular subject and who, in each case, shall have direct
responsibility for the administration of this Indenture. 

  
 -38- 

 “Trustee” means the party named as such in this Indenture until a successor
replaces it and, thereafter, means the successor. 
 “UCC” means the Uniform Commercial Code as in effect from time to time
in the State of New York; provided, however, that at any time, if by reason of mandatory provisions of law, any or all of the perfection or priority of a collateral agent’s security interest in any item or portion of the
collateral is governed by the Uniform Commercial Code as in effect in a jurisdiction other than the State of New York, the term “UCC” shall mean the Uniform Commercial Code as in effect, at such time, in such other jurisdiction for
purposes of the provisions hereof relating to such perfection or priority and for purposes of definitions relating to such provisions. 

“Unrestricted Subsidiary” means: 

(1) any Subsidiary (other than the Company or any direct or indirect parent entity of the Company) of the Company that at the
time of determination is an Unrestricted Subsidiary (as designated by the Company in the manner provided below); and 
 (2)
any Subsidiary of an Unrestricted Subsidiary. 
 The Company may designate any Subsidiary of the Company, respectively (including any newly acquired or
newly formed Subsidiary or a Person becoming a Subsidiary through merger, consolidation or other business combination transaction, or Investment therein), to be an Unrestricted Subsidiary only if: 

(1) such Subsidiary or any of its Subsidiaries does not own any Capital Stock or Indebtedness of, or own or hold any Lien on
any property of, the Company or any other Subsidiary of the Company which is not a Subsidiary of the Subsidiary to be so designated or otherwise an Unrestricted Subsidiary; and 

(2) such designation and the Investment of the Company in such Subsidiary complies with Section 3.3.

 “Unsecured Finance Lease Obligations” means Finance Lease Obligations not secured by a Lien and any other lease
obligation that is not required to be accounted for as a financing or capital lease on both the balance sheet and the income statement for financial reporting purposes in accordance with GAAP. For the avoidance of doubt, an operating lease shall be
considered an Unsecured Finance Lease Obligation. 
 “Unsecured Finance Leases” means all leases underlying Unsecured
Finance Lease Obligations. 
 “U.S. Government Obligations” means securities that are (a) direct obligations of the
United States of America for the timely payment of which its full faith and credit is pledged or (b) obligations of a Person controlled or supervised by and acting as an agency or instrumentality of the United States of America the timely
payment of which is unconditionally Guaranteed as a full faith and credit obligation of the United States of America, which, in either case, are not callable or redeemable at the option of the issuers thereof, and shall also include a depositary
receipt issued by a bank (as defined in Section 3(a)(2) of the Securities Act), as custodian with respect to any such U.S. Government Obligations or a specific payment of principal of or interest on any such U.S. Government Obligations held by
such custodian for the account of the holder of such depositary receipt; provided that (except as required by law) such custodian is not authorized to make any deduction from the amount payable to the holder of such depositary receipt from
any amount received by the custodian in respect of the U.S. Government Obligations or the specific payment of principal of or interest on the U.S. Government Obligations evidenced by such depositary receipt. 

“Voting Stock” of a Person means all classes of Capital Stock of such Person then outstanding and normally entitled to vote
in the election of directors. 

  
 -39- 

 “Weighted Average Life to Maturity” means, 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 Domestic Subsidiary” means a Domestic Subsidiary of the Company, all of the Capital Stock of which is owned by
the Company or another Guarantor. 
 SECTION 1.2. Other Definitions. 

 

			
	 Term
	  	 Defined in Section

		
	“Acceptable Commitment”	  	3.5(a)(3)(ii)
		
	“Accounting Change”	  	“GAAP”
		
	“Additional Restricted Notes”	  	2.1(b)
		
	“Affiliate Transaction”	  	3.8(a)
		
	“Agent Members”	  	2.1(e)(2)
		
	“Applicable Premium Deficit”	  	8.4(1)
		
	“Application Period”	  	3.5(a)(3)(ii)
		
	“Approved Foreign Bank”	  	“Cash Equivalents”
		
	“Asset Disposition Offer”	  	3.5(b)
		
	“Authenticating Agent”	  	2.2
		
	“Automatic Exchange”	  	2.6(e)
		
	“Automatic Exchange Date”	  	2.6(e)
		
	“Automatic Exchange Notice”	  	2.6(e)
		
	“Automatic Exchange Notice Date”	  	2.6(e)
		
	“Change of Control Offer”	  	3.9(a)
		
	“Change of Control Payment”	  	3.9(a)
		
	“Change of Control Payment Date”	  	3.9(a)(2)
		
	“Clearstream”	  	2.1(b)

  
 -40- 

			
	 Term
	  	 Defined in Section

		
	 “Company Order”
	  	2.2
		
	 “Covenant Defeasance”
	  	8.3
		
	 “Default Direction”
	  	6.1(a)
		
	 “Defaulted Interest”
	  	2.15
		
	 “Directing Holder”
	  	6.16(a)
		
	 “Euroclear”
	  	2.1(b)
		
	 “Event of Default”
	  	6.1
		
	 “Excess Proceeds”
	  	3.5(b)
		
	 “Fixed Charge Coverage Ratio Calculation Date”
	  	“Fixed Charge Coverage Ratio”
		
	 “Foreign Disposition”
	  	3.5(d)(i)
		
	 “Global Notes”
	  	2.1(b)
		
	 “Guaranteed Obligations”
	  	10.1
		
	 “Increased Amount”
	  	3.6
		
	 “Initial Agreement”
	  	3.4(b)(16)
		
	 “Initial Default”
	  	6.1(e)
		
	 “Legal Defeasance”
	  	8.2
		
	 “Legal Holiday”
	  	12.6
		
	 “Note Guarantees”
	  	10.1
		
	 “Noteholder Direction”
	  	6.1(a)
		
	 “Notes Register”
	  	2.3
		
	 “Other Guarantee”
	  	10.2(b)(5)
		
	 “Permitted Payments”
	  	3.3(b)
		
	 “primary obligations”
	  	“Contingent Obligations”
		
	 “primary obligor”
	  	“Contingent Obligations”

  
 -41- 

			
	 Term
	  	 Defined in Section

		
	 “protected purchaser”
	  	2.11
		
	 “Redemption Date”
	  	5.7(a)
		
	 “reference period”
	  	“Fixed Charge Coverage Ratio”
		
	 “Refunding Capital Stock”
	  	3.3(b)(2)
		
	 “Registrar”
	  	2.3
		
	 “Regulation S Global Note”
	  	2.1(b)
		
	 “Regulation S Notes”
	  	2.1(b)
		
	 “Resale Restriction Termination Date”
	  	2.6(b)
		
	 “Restricted Global Note”
	  	2.6(e)
		
	 “Restricted Payment”
	  	3.3(a)
		
	 “Restricted Period”
	  	2.1(b)
		
	 “Rule 144A Global Note”
	  	2.1(b)
		
	 “Rule 144A Notes”
	  	2.1(b)
		
	 “Second Commitment”
	  	3.5(a)(3)(ii)
		
	 “Special Interest Payment Date”
	  	2.15(a)
		
	 “Special Record Date”
	  	2.15(a)
		
	 “Subject Lien”
	  	3.6
		
	 “Successor Company”
	  	4.1(a)(1)
		
	 “Suspension Period”
	  	3.21
		
	 “Topic 810”
	  	“Consolidated EBITDA”
		
	 “Topic 815”
	  	“Consolidated EBITDA”
		
	 “Treasury Capital Stock”
	  	3.3(b)(2)
		
	 “Unrestricted Global Note”
	  	2.6(e)
		
	 “Verification Covenant”
	  	6.1(a)

  
 -42- 

 SECTION 1.3. [Reserved]. 

SECTION 1.4. Rules of Construction. Unless the context otherwise requires: 

(1) a term has the meaning assigned to it; 

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

(3) “or” is not exclusive; 

(4) “including” means including without limitation; 

(5) words in the singular include the plural and words in the plural include the singular; 

(6) “will” shall be interpreted to express a command; 

(7) the principal amount of any non-interest bearing or other discount security at any
date shall be the principal amount thereof that would be shown on a balance sheet of the issuer dated such date prepared in accordance with GAAP; 

(8) the principal amount of any preferred stock shall be (i) the maximum liquidation value of such preferred stock or
(ii) the maximum mandatory redemption or mandatory repurchase price with respect to such preferred stock, whichever is greater; 

(9) all amounts expressed in this Indenture or in any of the Notes in terms of money refer to the lawful currency of the United
States of America; 
 (10) the words “herein,” “hereof” and “hereunder” and other words of
similar import refer to this Indenture as a whole and not to any particular Article, Section or other subdivision; 
 (11)
unless otherwise specifically indicated, 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; 
 (12) the words “execute”, “execution”,
“signed”, “signature”, “delivery” and words of like import in or relating to any document to be signed in connection with this Indenture and the transactions contemplated hereby or thereby shall be deemed to include
Electronic Signatures, deliveries or the keeping of records in electron-ic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature, physical delivery
thereof 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; provided that, notwithstanding anything herein to the contrary, the Trustee is under no obligation to agree to accept electronic signatures
in any form or in any format unless expressly agreed to by the Trustee pursuant to reasonable procedures approved by the Trustee. As used herein, “Electronic Signature” means an electronic sound, symbol, or process attached to, or
associated with, a contract or other record and adopted by a Person with the intent to sign, authenticate or accept such contract or other record. 

SECTION 1.5. Certain Compliance Calculations. 

(a) Notwithstanding anything to the contrary herein, in the event an item of Indebtedness (or any portion thereof) is incurred or issued, any
Lien is incurred or other transaction is undertaken in reliance on any ratio based exceptions, thresholds and baskets, such ratio(s) shall be calculated with respect to such incurrence, issuance or other transaction without giving effect to amounts
being utilized under any other exceptions, thresholds or baskets (other than ratio based baskets) on the same date. Each item of Indebtedness that is incurred or issued, each Lien incurred and each other transaction undertaken will be deemed to have
been incurred, issued or taken first, to the extent available, pursuant to the relevant ratio based test. 

  
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 (b) Notwithstanding anything to the contrary herein, in the event an item of Indebtedness
(or any portion thereof) is incurred or issued, any Lien is incurred or other transaction is undertaken in reliance on any ratio based exceptions, thresholds and baskets, such ratio(s) shall be calculated without regard to the incurrence of any
Indebtedness under any revolving facility or letter of credit facility (1) immediately prior to or in connection therewith or (2) used to finance working capital needs of the Company and its Restricted Subsidiaries. 

(c) Any calculation or measure that is determined with reference to the Company’s financial statements (including Consolidated EBITDA,
Consolidated Interest Expense, Consolidated Net Income, Fixed Charges, Fixed Charge Coverage Ratio, Consolidated Secured Leverage Ratio and Consolidated Total Leverage Ratio) may be determined with reference to the financial statements of a Parent
Entity instead, so long as such Parent Entity does not hold any material assets other than, directly or indirectly, the Capital Stock of the Company. 

(d) For purposes of making the computation referred to above, any Investments, acquisitions, dispositions, mergers, amalgamations,
consolidations, operational changes, business expansions and disposed or discontinued operations that have been made by the Company or any of its Restricted Subsidiaries, during the reference period or subsequent to the reference period and on or
prior to or simultaneously with the Fixed Charge Coverage Ratio Calculation Date shall be calculated on a pro forma basis assuming that all such Investments, acquisitions, dispositions, mergers, amalgamations, consolidations, operational changes,
business expansions and disposed or discontinued operations (and the change in any associated fixed charge obligations and the change in Consolidated EBITDA resulting therefrom) had occurred on the first day of the reference period. If since the
beginning of such period any Person that subsequently became a Restricted Subsidiary or was merged or amalgamated with or into the Company or any of its Restricted Subsidiaries since the beginning of such period shall have made any Investment,
acquisition, disposition, merger, amalgamation, consolidation, operational changes, business expansions or disposed or discontinued operation 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, amalgamation, consolidation or disposed operation had occurred at the beginning of the applicable reference period. 

(e) For purposes of this Section 1.5, whenever pro forma effect is to be given to a transaction (including the
Transactions), the pro forma calculations shall be made in good faith by a responsible financial or chief accounting officer of the Company (and may include, for the avoidance of double, cost savings, operating expense reductions and synergies
resulting from such transactions which is being given pro forma effect). 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 reference period (taking into account any Hedging Obligations applicable to such Indebtedness). Interest on a Finance Lease Obligation shall be deemed to accrue
at an interest rate reasonably determined by a responsible financial or accounting officer of the Company to be the rate of interest implicit in such Finance 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 with a pro forma basis shall be computed based upon the average daily balance of such Indebtedness during the reference period except as set forth in the first
paragraph of this definition. 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 determined to have been based
upon the rate actually chosen, or if none, then based upon such optional rate chosen as the Company may designate. 

  
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 ARTICLE II 

THE NOTES 
 SECTION 2.1.
Form, Dating and Terms. 
 (a) The aggregate principal amount of Notes that may be authenticated and delivered under this Indenture is
unlimited. The Initial Notes issued on the date hereof will be in an aggregate principal amount of $700,000,000. In addition, the Company may issue, from time to time in accordance with the provisions of this Indenture, Additional Notes (as provided
herein). Furthermore, Notes may be authenticated and delivered upon registration of transfer, exchange or in lieu of, other Notes pursuant to Sections 2.2, 2.6, 2.11, 2.13, 5.6 or 9.5, in
connection with an Asset Disposition Offer pursuant to Section 3.5 or in connection with a Change of Control Offer pursuant to Section 3.9. 

Notwithstanding anything to the contrary contained herein, the Company may not issue any Additional Notes, unless such issuance is in
compliance with Section 3.2. 
 With respect to any Additional Notes, the Company shall set forth in (1) a
Board Resolution and (2) (i) an Officer’s Certificate and (ii) one or more indentures supplemental hereto, the following information: 

(A) the aggregate principal amount of such Additional Notes to be authenticated and delivered pursuant to this Indenture; 

(B) the issue price and the issue date of such Additional Notes, including the date from which interest shall accrue; and 

(C) whether such Additional Notes shall be Restricted Notes. 

In authenticating and delivering Additional Notes, the Trustee shall be entitled to receive and shall be fully protected in relying upon, in
addition to the Opinion of Counsel and Officer’s Certificate required by Section 12.2, an Opinion of Counsel as to the due authorization, execution, delivery, validity and enforceability of such Additional Notes. 

The Initial Notes and the Additional Notes shall be considered collectively as a single class for all purposes of this Indenture. Holders of
the Initial Notes and the Additional Notes will vote and consent together on all matters to which such Holders are entitled to vote or consent as one class, and none of the Holders of the Initial Notes or the Additional Notes shall have the right to
vote or consent as a separate class on any matter to which such Holders are entitled to vote or consent. 
 If any of the terms of any
Additional Notes are established by action taken pursuant to a Board Resolution of the Company, a copy of an appropriate record of such action shall be certified by the Secretary or any Assistant Secretary of the Company and delivered to the Trustee
at or prior to the delivery of the Officer’s Certificate and the indenture supplemental hereto setting forth the terms of the Additional Notes. 

(b) The Initial Notes are being offered and sold by the Company pursuant to a Purchase Agreement, dated June 1, 2022, among the Company,
the guarantors named therein and BofA Securities, Inc., as representative for the several Initial Purchasers. The Initial Notes and any Additional Notes (if issued as Restricted Notes) (the “Additional Restricted Notes”) will be
resold initially only to (A) Persons reasonably believed to be QIBs in reliance on Rule 144A and (B) Non-U.S. Persons in reliance on Regulation S. Such Initial Notes and Additional Restricted Notes
may thereafter be transferred to, among others, QIBs and purchasers in reliance on Regulation S, in each case, in accordance with the procedure described herein. Additional Notes offered after the date hereof may be offered and sold by the
Company from time to time pursuant to one or more purchase agreements in accordance with applicable law. 

  
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 Initial Notes and Additional Restricted Notes offered and sold to QIBs in the United States
of America in reliance on Rule 144A (the “Rule 144A Notes”) shall be issued in the form of a permanent global Note substantially in the form of Exhibit A, which is hereby
incorporated by reference and made a part of this Indenture, including appropriate legends as set forth in Section 2.1(d) (the “Rule 144A Global Note”), deposited with the Trustee, as
custodian for DTC, duly executed by the Company and authenticated by the Trustee as hereinafter provided. The Rule 144A Global Note may be represented by more than one certificate, if so required by DTC’s rules regarding the maximum
principal amount to be represented by a single certificate. The aggregate principal amount of the Rule 144A Global Note may from time to time be increased or decreased by adjustments made on the records of the Trustee, as custodian for DTC or
its nominee, as hereinafter provided. 
 Initial Notes and any Additional Restricted Notes offered and sold to non-U.S. Persons outside the United States of America (the “Regulation S Notes”) in reliance on Regulation S shall be issued in the form of a permanent global Note
substantially in the form of Exhibit A including appropriate legends as set forth in Section 2.1(d) (the “Regulation S Global Note”). Each Regulation S Global Note will be deposited
upon issuance with, or on behalf of, the Trustee as custodian for DTC in the manner described in this Article II. Prior to the 40th day after the later of the commencement of the offering of the Initial Notes and the
Issue Date (such period through and including such 40th day, the “Restricted Period”), interests in the Regulation S Global Note may only be transferred to non-U.S. persons pursuant to
Regulation S, unless exchanged for interests in a Global Note in accordance with the transfer and certification requirements described herein. 

Investors may hold their interests in the Regulation S Global Note through organizations other than Euroclear Bank S.A./N.V.
(“Euroclear”) or Clearstream Banking, société anonyme (“Clearstream”) that are participants in DTC’s system or directly through Euroclear or Clearstream, if they are participants in such systems,
or indirectly through organizations which are participants in such systems. If such interests are held through Euroclear or Clearstream, Euroclear and Clearstream will hold such interests in the applicable Regulation S Global Note on behalf of
their participants through customers’ securities accounts in their respective names on the books of their respective depositaries. Such depositaries, in turn, will hold such interests in the applicable Regulation S Global Note in
customers’ securities accounts in the depositaries’ names on the books of DTC. 
 The Regulation S Global Note may be
represented by more than one certificate, if so required by DTC’s rules regarding the maximum principal amount to be represented by a single certificate. The aggregate principal amount of the Regulation S Global Note may from time to time
be increased or decreased by adjustments made on the records of the Trustee, as custodian for DTC or its nominee, as hereinafter provided. 

The Rule 144A Global Note and the Regulation S Global Note are sometimes collectively herein referred to as the “Global
Notes.” 
 The principal of (and premium, if any) and interest on the Notes shall be payable at the office or agency of Paying
Agent designated by the Company maintained for such purpose (which shall initially be the office of the Trustee maintained for such purpose), or at such other office or agency of the Company as may be maintained for such purpose pursuant to
Section 2.3; provided, however, that, at the option of the Paying Agent, each installment of interest may be paid by (i) check mailed to addresses of the Persons entitled thereto as such addresses shall
appear on the Notes Register or (ii) wire transfer to an account located in the United States maintained by the payee, subject to the last sentence of this paragraph. Payments in respect of Notes represented by a Global Note (including
principal, premium, if any, and interest) will be made by wire transfer of immediately available funds to the accounts specified by DTC. Payments in respect of Notes represented by Definitive Notes (including principal, premium, if any, and
interest) held by a Holder of at least $1,000,000 aggregate principal amount of Notes represented by Definitive Notes will be made in accordance with the Notes Register, or by wire transfer to a U.S. dollar account maintained by the payee with a
bank in the United States if such Holder elects payment by wire transfer by giving written notice to the Trustee or the Paying Agent to such effect designating such account no later than 15 days immediately preceding the relevant due date for
payment (or such other date as the Trustee may accept in its discretion). 
 The Notes may have notations, legends or endorsements required
by law, stock exchange rule or usage, in addition to those set forth on Exhibit A and in Section 2.1(d). The Company shall approve any notation, endorsement or legend on the Notes. Each Note shall
be dated the date of its authentication. The terms of the Notes set forth in Exhibit A are part of the terms of this Indenture and, to the extent applicable, the Company, the Guarantors and the Trustee, by their execution
and delivery of this Indenture, expressly agree to be bound by such terms. 

  
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 (c) Denominations. The Notes shall be issuable only in fully registered form in
minimum denominations of $2,000 and any integral multiple of $1,000 in excess thereof. 
 (d) Restrictive Legends. Unless and until
(i) an Initial Note or an Additional Note issued as a Restricted Note is sold under an effective registration statement or (ii) the Company receives an Opinion of Counsel satisfactory to it to the effect that neither such legend nor the
related restrictions on transfer are required in order to maintain compliance with the provisions of the Securities Act: 

(1) the Rule 144A Global Note and the Regulation S Global Note shall bear the following legend on the face thereof:

 THE NOTES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE SECURITIES
LAWS. NEITHER THIS NOTE NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH TRANSACTION IS EXEMPT FROM, OR NOT
SUBJECT TO, REGISTRATION AS SET FORTH BELOW. 
 BY ITS ACQUISITION HEREOF, THE HOLDER (1) REPRESENTS THAT (A) IT IS A
“QUALIFIED INSTITUTIONAL BUYER” (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”)), OR (B) IT IS NOT A U.S. PERSON AND IS ACQUIRING THIS NOTE IN AN OFFSHORE TRANSACTION, (2) AGREES TO OFFER, SELL, PLEDGE
OR OTHERWISE TRANSFER SUCH NOTE PRIOR TO THE DATE (THE “RESALE RESTRICTION TERMINATION DATE”) THAT IS ONE YEAR (OR SUCH LONGER PERIOD AS IS REQUIRED TO COMPLY WITH THE SECURITIES ACT) IN THE CASE OF RULE 144A NOTES, AND 40 DAYS IN THE CASE
OF REGULATION S NOTES AFTER THE LATER OF THE ORIGINAL ISSUE DATE HEREOF AND THE LAST DATE ON WHICH THE COMPANY OR ANY AFFILIATE OF THE COMPANY WAS THE OWNER OF THE NOTES (OR ANY PREDECESSOR OF SUCH NOTES), ONLY (A) TO THE COMPANY, THE
GUARANTORS OR ANY SUBSIDIARY THEREOF, (B) PURSUANT TO A REGISTRATION STATEMENT WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (C) FOR SO LONG AS THE NOTES ARE ELIGIBLE FOR RESALE PURSUANT TO RULE 144A TO A PERSON IT REASONABLY
BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (D) OUTSIDE THE UNITED STATES
PURSUANT TO OFFERS AND SALES TO NON-U.S. PERSONS IN AN OFFSHORE TRANSACTION PURSUANT TO REGULATION S UNDER THE SECURITIES ACT IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 904 UNDER THE SECURITIES ACT
OR (E) PURSUANT TO ANOTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, SUBJECT TO THE COMPANY’S AND REGISTRAR’S RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER PURSUANT TO CLAUSE (E) TO REQUIRE
THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION AND/OR OTHER INFORMATION SATISFACTORY TO THE COMPANY. THIS LEGEND WILL BE REMOVED UPON THE WRITTEN REQUEST OF THE HOLDER AFTER THE RESALE RESTRICTION TERMINATION DATE. 

IN THE CASE OF THE REGULATION S GLOBAL NOTE: BY ITS ACQUISITION HEREOF, THE HOLDER HEREOF REPRESENTS THAT IT IS NOT A U.S. PERSON NOR IS IT
PURCHASING FOR THE ACCOUNT OF A U.S. PERSON AND IS ACQUIRING THIS SECURITY IN AN OFFSHORE TRANSACTION IN ACCORDANCE WITH REGULATION S UNDER THE SECURITIES ACT. 

  
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 BY ITS ACQUISITION OF THIS SECURITY THE HOLDER AND ANY SUBSEQUENT TRANSFEREE HEREOF WILL BE
DEEMED TO HAVE REPRESENTED AND WARRANTED THAT EITHER (I) THE PURCHASER IS NOT ACQUIRING OR HOLDING SUCH NOTE OR AN INTEREST THEREIN WITH THE ASSETS OF (A) AN “EMPLOYEE BENEFIT PLAN” (AS DEFINED IN SECTION 3(3) OF ERISA) THAT
IS SUBJECT TO ERISA, (B) A “PLAN” DESCRIBED IN SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”), (C) ANY ENTITY DEEMED TO HOLD “PLAN ASSETS” OF ANY OF THE FOREGOING BY
REASON OF AN EMPLOYEE BENEFIT PLAN’S OR PLAN’S INVESTMENT IN SUCH ENTITY OR (D) A GOVERNMENTAL PLAN OR CHURCH PLAN SUBJECT TO SUCH PROVISIONS THAT ARE SIMILAR TO SUCH PROVISIONS OF ERISA OR THE CODE (COLLECTIVELY, “SIMILAR
LAWS”) OR (II) THE ACQUISITION AND HOLDING OF SUCH NOTE BY THE PURCHASER, THROUGHOUT THE PERIOD THAT IT HOLDS SUCH NOTE AND THE DISPOSITION OF SUCH NOTE OR AN INTEREST THEREIN WILL NOT CONSTITUTE OR RESULT IN A NON-EXEMPT PROHIBITED TRANSACTION UNDER SECTION 406 OF ERISA OR SECTION 4975 OF THE CODE, A BREACH OF FIDUCIARY DUTY UNDER ERISA OR A VIOLATION OF ANY PROVISIONS OF ANY APPLICABLE SIMILAR LAW. 

(2) Each Global Note, whether or not an Initial Note, shall bear the following legend on the face thereof: 

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION
(“DTC”), NEW YORK, NEW YORK, TO THE COMPANY 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. 
 TRANSFERS OF THIS GLOBAL NOTE SHALL BE
LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO DTC, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL NOTE SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE
RESTRICTIONS SET FORTH IN THE INDENTURE REFERRED TO ON THE REVERSE HEREOF. 
 (e) Book-Entry Provisions. (i) This
Section 2.1(e) shall apply only to Global Notes deposited with the Trustee, as custodian for DTC, and for which the applicable procedures of DTC shall govern. 

(1) Each Global Note initially shall (x) be registered in the name of DTC or the nominee of DTC, (y) be delivered to
the Notes Custodian for DTC and (z) bear legends as set forth in Section 2.1(d). Transfers of a Global Note (but not a beneficial interest therein) will be limited to transfers thereof in whole, but not in part, to the
DTC, its successors or its respective nominees, except as set forth in Section 2.1(e)(3), 2.1(e)(4) and 2.1(f). If a beneficial interest in a Global Note is transferred or exchanged for a beneficial interest in
another Global Note, the Notes Custodian will (x) record a decrease in the principal amount of the Global Note being transferred or exchanged equal to the principal amount of such transfer or exchange and (y) record a like increase in the
principal amount of the other Global Note. Any beneficial interest in one Global Note that is transferred to a Person who takes delivery in the form of an interest in another Global Note, or exchanged for an interest in another Global Note, will,
upon transfer or exchange, cease to be an interest in such Global Note and become an interest in the other Global Note and, accordingly, will thereafter be subject to all transfer and exchange restrictions, if any, and other procedures applicable to
beneficial interests in such other Global Note for as long as it remains such an interest. 
 (2) Members of, or participants
in, DTC (“Agent Members”) shall have no rights under this Indenture with respect to any Global Note held on their behalf by DTC or by the Notes Custodian as the custodian of DTC or under such Global Note, and DTC may be treated by
the Company, the Trustee and any agent of the Company or the Trustee as the absolute owner of such Global Note for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall prevent the Company, the Trustee or any agent of the
Company or the Trustee from giving effect to any written certification, proxy or other authorization furnished by DTC or impair, as between DTC and its Agent Members, the operation of customary practices of DTC governing the exercise of the rights
of a holder of a beneficial interest in any Global Note. 

  
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 (3) In connection with any transfer of a portion of the beneficial interest
in a Global Note pursuant to Section 2.1(f) to beneficial owners who are required to hold Definitive Notes, the Notes Custodian shall reflect on its books and records the date and a decrease in the principal amount of such
Global Note in an amount equal to the principal amount of the beneficial interest in the Global Note to be transferred, and the Company shall execute, and the Trustee shall authenticate and make available for delivery, one or more Definitive Notes
of like tenor and amount. 
 (4) In connection with the transfer of an entire Global Note to beneficial owners pursuant to
Section 2.1(f), such Global Note shall be deemed to be surrendered to the Trustee for cancellation, and the Company shall execute, and the Trustee shall authenticate and make available for delivery, to each beneficial owner
identified by DTC in exchange for its beneficial interest in such Global Note, an equal aggregate principal amount of Definitive Notes of authorized denominations. 

(5) The registered Holder of a Global Note may grant proxies and otherwise authorize any person, including Agent Members and
persons that may hold interests through Agent Members, to take any action which a Holder is entitled to take under this Indenture or the Notes. 

(6) Any Holder of a Global Note shall, by acceptance of such Global Note, agree that transfers of beneficial interests in such
Global Note may be effected only through a book-entry system maintained by (i) the Holder of such Global Note (or its agent) or (ii) any holder of a beneficial interest in such Global Note, and that
ownership of a beneficial interest in such Global Note shall be required to be reflected in a book entry. 
 (f) Definitive Notes.
Except as provided below, owners of beneficial interests in Global Notes will not be entitled to receive Definitive Notes. Definitive Notes shall be transferred to all beneficial owners in exchange for their beneficial interests in a Global Note if
(A) DTC notifies the Company that it is unwilling or unable to continue as depositary for such Global Note or DTC ceases to be a clearing agency registered under the Exchange Act, at a time when DTC is required to be so registered in order to
act as depositary, and in each case a successor depositary is not appointed by the Company within 90 days of such notice, (B) the Company in its sole discretion executes and deliver to the Trustee and Registrar an Officer’s
Certificate stating that such Global Note shall be so exchangeable or (C) an Event of Default has occurred and is continuing and the Registrar has received a written request from DTC. In the event of the occurrence of any of the events
specified in clause (A), (B) or (C) of the preceding sentence, the Company shall promptly make available to the Registrar a reasonable supply of Definitive Notes. In addition, any Note transferred to an affiliate (as defined in
Rule 405 under the Securities Act) of the Company or evidencing a Note that has been acquired by an affiliate in a transaction or series of transactions not involving any public offering must, until one year after the last date on which either
the Company or any affiliate of the Company was an owner of the Note, be in the form of a Definitive Note and bear the legend regarding transfer restrictions in Section 2.1(d). If required to do so pursuant to any
applicable law or regulation, beneficial owners may also obtain Definitive Notes in exchange for their beneficial interests in a Global Note upon written request in accordance with DTC’s and the Registrar’s procedures. 

(1) Any Definitive Note delivered in exchange for an interest in a Global Note pursuant to
Section 2.1(e) shall, except as otherwise provided by Section 2.6(d), bear the applicable legend regarding transfer restrictions applicable to the Global Note set forth in
Section 2.1(d). 
 (2) If a Definitive Note is transferred or exchanged for a beneficial interest
in a Global Note, the Trustee will (x) cancel such Definitive Note, (y) record an increase in the principal amount of such Global Note equal to the principal amount of such transfer or exchange and (z) in the event that such transfer
or exchange involves less than the entire principal amount of the canceled Definitive Note, the Company shall execute, and the Trustee shall authenticate and make available for delivery, to the transferring Holder a new Definitive Note representing
the principal amount not so transferred. 

  
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 (3) If a Definitive Note is transferred or exchanged for another Definitive
Note, (x) the Trustee will cancel the Definitive Note being transferred or exchanged, (y) the Company shall execute, and the Trustee shall authenticate and make available for delivery, one or more new Definitive Notes in authorized
denominations having an aggregate principal amount equal to the principal amount of such transfer or exchange to the transferee (in the case of a transfer) or the Holder of the canceled Definitive Note (in the case of an exchange), registered in the
name of such transferee or Holder, as applicable, and (z) if such transfer or exchange involves less than the entire principal amount of the canceled Definitive Note, the Company shall execute, and the Trustee shall authenticate and make
available for delivery to the Holder thereof, one or more Definitive Notes in authorized denominations having an aggregate principal amount equal to the untransferred or unexchanged portion of the canceled Definitive Notes, registered in the name of
the Holder thereof. 
 (4) Notwithstanding anything to the contrary in this Indenture, in no event shall a Definitive Note be
delivered upon exchange or transfer of a beneficial interest in the Regulation S Global Note prior to the end of the Restricted Period. 

SECTION 2.2. Execution and Authentication. One Officer shall sign the Notes for the Company by manual, facsimile or other electronic
signature. If the Officer whose signature is on a Note no longer holds that office at the time the Trustee authenticates the Note, the Note shall be valid nevertheless. 

A Note shall not be valid until an authorized officer of the Trustee manually authenticates the Note. The signature of the Trustee on a Note
shall be conclusive evidence that such Note has been duly and validly authenticated and issued under this Indenture. A Note shall be dated the date of its authentication. 

At any time and from time to time after the execution and delivery of this Indenture, the Trustee shall authenticate and make available for
delivery: (1) Initial Notes for original issue on the Issue Date in an aggregate principal amount of $700,000,000, (2) subject to the terms of this Indenture, Additional Notes for original issue in an unlimited principal amount and
(3) under the circumstances set forth in Section 2.6(e), Initial Notes in the form of an Unrestricted Global Note, in each case upon a written order of the Company signed by one Officer (the “Company
Order”). Such Company Order shall specify whether the Notes will be in the form of Definitive Notes or Global Notes, the amount of the Notes to be authenticated, the date on which the original issue of Notes is to be authenticated, the
Holder of the Notes and whether the Notes are to be Initial Notes or Additional Notes. 
 The Trustee may appoint an agent (the
“Authenticating Agent”) reasonably acceptable to the Company to authenticate the Notes. Any such appointment shall be evidenced by an instrument signed by a Trust Officer, a copy of which shall be furnished to the Company. Unless
limited by the terms of such appointment, any such Authenticating Agent may authenticate Notes whenever the Trustee may do so. Each reference in this Indenture to authentication by the Trustee includes authentication by the Authenticating Agent. An
Authenticating Agent has the same rights as any Registrar, Paying Agent or agent for service of notices and demands. 
 In case the Company
or any Guarantor, pursuant to Article IV or Section 10.2, as applicable, shall be consolidated or merged with or into any other Person or shall convey, transfer, lease or otherwise dispose of its
properties and assets substantially as an entirety to any Person, and the successor Person resulting from such consolidation, or surviving such merger, or into which the Company or any Guarantor shall have been merged, or the Person which shall have
received a conveyance, transfer, lease or other disposition as aforesaid, shall have executed an indenture supplemental hereto with the Trustee pursuant to Article IV, any of the Notes authenticated or delivered prior to
such consolidation, merger, conveyance, transfer, lease or other disposition may (but shall not be required), from time to time, at the request of the successor Person, be exchanged for other Notes executed in the name of the successor Person with
such changes in phraseology and form as may be appropriate to reflect such successor Person, but otherwise in substance of like tenor as the Notes surrendered for such exchange and of like principal amount; and the Trustee, upon the Company Order of
the successor Person, shall authenticate and make available for delivery Notes as specified in such order for the purpose of such exchange. If Notes shall at any time be authenticated and delivered in any new name of a successor Person pursuant to
this Section 2.2 in exchange or substitution for or upon registration of transfer of any Notes, such successor Person, at the option of the Holders but without expense to them, shall provide for the exchange of all Notes at
the time outstanding for Notes authenticated and delivered in such new name. 

  
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 SECTION 2.3. Registrar and Paying Agent. The Company shall maintain an office or
agency where Notes may be presented for registration of transfer or for exchange (the “Registrar”) and an office or agency where Notes may be presented for payment. The Registrar shall keep a register of the Notes and of their
transfer and exchange (the “Notes Register”). The Company may have one or more co-registrars and one or more additional paying agents. The term “Paying Agent” includes any additional
paying agent and the term “Registrar” includes any co-registrar. 
 The Company shall
enter into an appropriate agency agreement with any Registrar or Paying Agent not a party to this Indenture. The agreement shall implement the provisions of this Indenture that relate to such agent. The Company shall notify the Trustee in writing of
the name and address of each such agent. If the Company fails to maintain a Registrar or Paying Agent, the Trustee shall act as such and shall be entitled to appropriate compensation therefor pursuant to Section 7.7. The
Company or any Guarantor may act as Paying Agent, Registrar or transfer agent. 
 The Company initially appoints the Trustee as Registrar
and Paying Agent for the Notes. The Company may change any Registrar or Paying Agent without prior notice to the Holders, but upon written notice to such Registrar or Paying Agent and to the Trustee; provided, however, that no such
removal shall become effective until (i) acceptance of any appointment by a successor as evidenced by an appropriate agreement entered into by the Company and such successor Registrar or Paying Agent, as the case may be, and delivered to the
Trustee and the passage of any waiting or notice periods required by DTC procedures or (ii) written notification to the Trustee that the Trustee shall serve as Registrar or Paying Agent until the appointment of a successor in accordance with
clause (i) above. The Registrar or Paying Agent may resign at any time upon written notice to the Company and the Trustee. 
 SECTION
2.4. Paying Agent to Hold Money in Trust. By no later than 12:00 p.m. (Eastern time) on the date on which any principal of, premium, if any, or interest on any Note is due and payable, the Company shall deposit with the Paying Agent a
sum sufficient in immediately available funds to pay such principal, premium or interest when due. The Company shall require each Paying Agent (other than the Trustee) to agree in writing that such Paying Agent shall hold in trust for the benefit of
Holders or the Trustee all money held by such Paying Agent for the payment of principal of, premium, if any, or interest on the Notes (whether such assets have been distributed to it by the Company or other obligors on the Notes), shall notify the
Trustee in writing of any default by the Company or any Guarantor in making any such payment and shall during the continuance of any default by the Company (or any other obligor upon the Notes) in the making of any payment in respect of the Notes,
upon the written request of the Trustee, forthwith deliver to the Trustee all sums held in trust by such Paying Agent for payment in respect of the Notes together with a full accounting thereof. If the Company or a Subsidiary of the Company acts as
Paying Agent, it shall segregate the money held by it as Paying Agent and hold it as a separate trust fund. The Company at any time may require a Paying Agent (other than the Trustee) to pay all money held by it to the Trustee and to account for any
funds or assets disbursed by such Paying Agent. Upon complying with this Section 2.4, the Paying Agent (if other than the Company or a Subsidiary of the Company) shall have no further liability for the money delivered to
the Trustee. Upon any bankruptcy, reorganization or similar proceeding with respect to the Company, the Trustee shall serve as Paying Agent for the Notes. 

SECTION 2.5. 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 Company, on its own behalf and on behalf of each of the Guarantors, shall furnish or cause the Registrar to furnish to the Trustee, in writing at least five
Business Days before 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. 

SECTION 2.6. Transfer and Exchange. 

(a) A Holder may transfer a Note (or a beneficial interest therein) to another Person or exchange a Note (or a beneficial interest therein) for
another Note or Notes of any authorized denomination by presenting to the Registrar a written request therefor stating the name of the proposed transferee or requesting such an exchange, accompanied by any certification, opinion or other document
required by this Section 2.6. The Registrar will promptly register any transfer or exchange that meets the requirements of this Section 2.6 by noting the same in the Notes Register maintained by
the Registrar for the purpose, and no transfer or exchange will be effective until it is registered in such Notes Register. The transfer or exchange of any Note (or a beneficial interest therein) may only be made in accordance with this
Section 2.6 and Section 2.1(e) and 2.1(f), as applicable, and, in the case of a Global Note (or a beneficial interest therein), the applicable rules and procedures of DTC, Euroclear and
Clearstream. The Registrar shall refuse to register any requested transfer or exchange that does not comply with this paragraph. 

  
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 (b) Transfers of Rule 144A Notes. The following provisions shall
apply with respect to any proposed registration of transfer of a Rule 144A Note prior to the date that is one year after the later of the date of its original issue and the last date on which the Company or any Affiliate of the Company was the
owner of such Notes (or any predecessor thereto) (the “Resale Restriction Termination Date”): 
 (1) a
registration of transfer of a Rule 144A Note or a beneficial interest therein to a QIB shall be made upon the representation of the transferee in the form as set forth on the reverse of the Note that it is purchasing for its own account or an
account with respect to which it exercises sole investment discretion and that it and any such account is a QIB, and is aware that the sale to it is being made in reliance on Rule 144A and acknowledges that it has received such information
regarding the Company as the undersigned has requested pursuant to Rule 144A or has determined not to request such information and that it is aware that the transferor is relying upon its foregoing representations in order to claim the
exemption from registration provided by Rule 144A; provided that no such written representation or other written certification shall be required in connection with the transfer of a beneficial interest in the Rule 144A Global Note
to a transferee in the form of a beneficial interest in that Rule 144A Global Note in accordance with this Indenture and the applicable procedures of DTC; 

(2) [reserved]; and 

(3) a registration of transfer of a Rule 144A Note or a beneficial interest therein to a
Non-U.S. Person shall be made upon receipt by the Registrar or its agent of a certificate substantially in the form set forth in Section 2.9 from the proposed transferee and the
delivery of an Opinion of Counsel, certification and/or other information satisfactory to the Company. 
 (c) Transfers of
Regulation S Notes. The following provisions shall apply with respect to any proposed transfer of a Regulation S Note prior to the expiration of the Restricted Period: 

(1) a transfer of a Regulation S Note or a beneficial interest therein to a QIB shall be made upon the representation of
the transferee, in the form of assignment on the reverse of the certificate, that it is purchasing the Note for its own account or an account with respect to which it exercises sole investment discretion and that it and any such account is a QIB, is
aware that the sale to it is being made in reliance on Rule 144A and acknowledges that it has received such information regarding the Company as the undersigned has requested pursuant to Rule 144A or has determined not to request such
information and that it is aware that the transferor is relying upon its foregoing representations in order to claim the exemption from registration provided by Rule 144A; 

(2) [reserved]; and 

(3) a transfer of a Regulation S Note or a beneficial interest therein to a
Non-U.S. Person shall be made upon receipt by the Registrar or its agent of a certificate substantially in the form set forth in Section 2.9 from the proposed transferee and receipt
by the Registrar or its agent of an Opinion of Counsel, certification and/or other information satisfactory to the Company. 
 After the
expiration of the Restricted Period, interests in the Regulation S Note may be transferred in accordance with applicable law without requiring the certification set forth in Section 2.9 or any additional certification.

 (d) Restricted Notes Legend. Upon the transfer, exchange or replacement of Notes not bearing a Restricted Notes Legend, the
Registrar shall deliver Notes that do not bear a Restricted Notes Legend. Upon the transfer, exchange or replacement of Notes bearing a Restricted Notes Legend, the Registrar shall deliver only Notes that bear a Restricted Notes Legend unless
(1) an Initial Note is being transferred pursuant to an effective registration statement, (2) Initial Notes are being exchanged for Notes that do not bear the Restricted Notes Legend in accordance with
Section 2.6(e) or (3) there is delivered to the Registrar an Opinion of Counsel reasonably satisfactory to the Company to the effect that neither such legend nor the related restrictions on transfer are required in
order to maintain compliance with the provisions of the Securities Act. Any Additional Notes sold in a registered offering shall not be required to bear the Restricted Notes Legend. 

  
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 (e) Automatic Exchange from Global Note Bearing Restricted Notes Legend to Global Note
Not Bearing Restricted Notes Legend. Upon the Company’s satisfaction that the Restricted Notes Legend shall no longer be required in order to maintain compliance with the Securities Act, beneficial interests in a Global Note bearing the
Restricted Notes Legend (a “Restricted Global Note”) may be automatically exchanged into beneficial interests in a Global Note not bearing the Restricted Notes Legend (an “Unrestricted Global Note”) without any
action required by or on behalf of the Holder (the “Automatic Exchange”) at any time on or after the date that is the 366th calendar day after (1) with respect to the Notes issued on the Issue Date, the Issue Date or
(2) with respect to Additional Notes, if any, the issue date of such Additional Notes, or, in each case, if such day is not a Business Day, on the next succeeding Business Day (the “Automatic Exchange Date”). Upon the
Company’s satisfaction that the Restricted Notes Legend shall no longer be required in order to maintain compliance with the Securities Act, the Company shall (i) provide written notice to DTC and the Trustee at least fifteen (15)
calendar days prior to the Automatic Exchange Date, instructing DTC to exchange all of the outstanding beneficial interests in a particular Restricted Global Note to the Unrestricted Global Note, which the Company shall have previously otherwise
made eligible for exchange with the DTC, (ii) provide prior written notice (the “Automatic Exchange Notice”) to each Holder at such Holder’s address appearing in the register of Holders at least fifteen (15) calendar
days prior to the Automatic Exchange Date (the “Automatic Exchange Notice Date”), which notice must include (w) the Automatic Exchange Date, (x) the section of this Indenture pursuant to which the Automatic Exchange shall
occur, (y) the “CUSIP” number of the Restricted Global Note from which such Holder’s beneficial interests will be transferred and (z) the “CUSIP” number of the Unrestricted Global Note into which such Holder’s
beneficial interests will be transferred, and (iii) on or prior to the Automatic Exchange Date, deliver to the Trustee for authentication one or more Unrestricted Global Notes, duly executed by the Company and a Company Order requesting the
Trustee to authenticate, in an aggregate principal amount equal to the aggregate principal amount of Restricted Global Notes to be exchanged into such Unrestricted Global Notes. At the Company’s written request on no less than five (5)
calendar days’ notice prior to the Automatic Exchange Notice Date, the Trustee shall deliver, in the Company’s name and at its expense, the Automatic Exchange Notice to each Holder at such Holder’s address appearing in the register of
Holders; provided that the Company has delivered to the Trustee the information required to be included in such Automatic Exchange Notice. 

Notwithstanding anything to the contrary in this Section 2.6(e), during the fifteen (15) calendar day period
prior to the Automatic Exchange Date, no transfers or exchanges other than pursuant to this Section 2.6(e) shall be permitted without the prior written consent of the Company. As a condition to any Automatic Exchange, the
Company shall provide, and the Trustee shall be entitled to conclusively rely upon, an Officer’s Certificate and Opinion of Counsel to the Company to the effect that the Automatic Exchange shall be effected in compliance with the Securities Act
and that the restrictions on transfer contained herein and in the Restricted Notes Legend shall no longer be required in order to maintain compliance with the Securities Act and that the aggregate principal amount of the particular Restricted Global
Note is to be transferred to the particular Unrestricted Global Note by adjustment made on the records of the Trustee, as custodian for the depositary to reflect the Automatic Exchange. Upon such exchange of beneficial interests pursuant to this
Section 2.6(e), the aggregate principal amount of the Global Notes shall be increased or decreased by adjustments made on the records of the Trustee, as custodian for the depositary, to reflect the relevant increase or
decrease in the principal amount of such Global Note resulting from the applicable exchange. The Restricted Global Note from which beneficial interests are transferred pursuant to an Automatic Exchange shall be cancelled following the Automatic
Exchange. 
 (f) Retention of Written Communications. The Registrar shall retain copies of all letters, notices and other written
communications received pursuant to Section 2.1 or this Section 2.6. The Company 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 prior written notice to the Registrar. 
 (g) Obligations with Respect to Transfers and
Exchanges of Notes. To permit registrations of transfers and exchanges, the Company shall, subject to the other terms and conditions of this Article II, execute and the Trustee shall authenticate Definitive Notes and
Global Notes at the Company’s and Registrar’s written request. 

  
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 No service charge shall be made to a Holder for any registration of transfer or exchange,
but the Company may require the Holder to pay a sum sufficient to cover any transfer tax assessments or similar governmental charge payable in connection therewith (other than any such transfer taxes, assessments or similar governmental charges
payable upon exchange or transfer pursuant to Sections 2.2, 2.6, 2.11, 2.13, 3.5, 5.6 or 9.5). 

The Company (and the Registrar) shall not be required to register the transfer of or exchange of any Note (A) for a period beginning
(1) 15 calendar days before the mailing of a notice of an offer to repurchase or redeem Notes and ending at the close of business on the day of such mailing or (2) 15 calendar days before an interest payment date and ending on
such interest payment date or (B) called for redemption, except the unredeemed portion of any Note being redeemed in part. 
 Prior to
the due presentation for registration of transfer of any Note, the Company, the Trustee, the Paying Agent or the Registrar may deem and treat the person in whose name a Note is registered as the owner of such Note for the purpose of receiving
payment of principal of, premium, if any, and (subject to paragraph 2 of the form of Note attached hereto as Exhibit A) interest on such Note and for all other purposes whatsoever, including without limitation the
transfer or exchange of such Note, whether or not such Note is overdue, and none of the Company, the Trustee, the Paying Agent or the Registrar shall be affected by notice to the contrary. 

Any Definitive Note delivered in exchange for an interest in a Global Note pursuant to Section 2.1(f) shall, except
as otherwise provided by Section 2.6(d), bear the applicable legend regarding transfer restrictions applicable to the Definitive Note set forth in Section 2.1(d). 

All Notes issued upon any transfer or exchange pursuant to the terms of this Indenture shall evidence the same debt and shall be entitled to
the same benefits under this Indenture as the Notes surrendered upon such transfer or exchange. 
 (h) No Obligation of the Trustee.
Neither the Trustee nor the Registrar shall have any responsibility or obligation to any beneficial owner of a Global Note, a member of, or a participant in, DTC or other Person with respect to the accuracy of the records of DTC or its nominee or of
any participant or member thereof, with respect to any ownership interest in the Notes or with respect to the delivery to any participant, member, beneficial owner or other Person (other than DTC) of any notice (including any notice of redemption or
purchase) or the payment of any amount or delivery of any Notes (or other security or property) under or with respect to such Notes. All notices and communications to be given to the Holders and all payments to be made to Holders in respect of the
Notes shall be given or made only to or upon the order of the registered Holders (which shall be DTC or its nominee in the case of a Global Note). The rights of beneficial owners in any Global Note shall be exercised only through DTC subject to the
applicable rules and procedures of DTC. The Trustee may rely and shall be fully protected in relying upon information furnished by DTC with respect to its members, participants and any beneficial owners. 

Neither the Trustee nor the Registrar shall have any 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 DTC participants, members or beneficial owners 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. Neither the Trustee nor any of its agents shall have any responsibility for any actions taken or not taken by DTC. 

SECTION 2.7. [Reserved]. 

SECTION 2.8. [Reserved]. 

  
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 SECTION 2.9. Form of Certificate to be Delivered in Connection with Transfers Pursuant to
Regulation S. 
 [Date] 

Builders FirstSource, Inc. 
 2001 Bryan Street, Suite 1600 

Dallas, Texas 75201 
 Facsimile: (919) 431-1199 
 Attention: Timothy D. Johnson, Esq. 

Wilmington Trust, National Association, as Trustee 
 1100 North
Market Street 
 Wilmington, Delaware 19890 
 Attention:
Builders FirstSource, Inc. Administrator 
 Telecopy: (302) 636-4145 

Re: Builders FirstSource, Inc. (the “Company”) 

6.375% Senior Notes due 2032 (the “Notes”) 

Ladies and Gentlemen: 
 In connection with our
proposed sale of $[________] aggregate principal amount of the Notes, we confirm that such sale has been effected pursuant to and in accordance with Regulation S under the United States Securities Act of 1933, as amended (the
“Securities Act”), and, accordingly, we represent that: 
 (a) the offer of the Notes was not made to a
person in the United States; 
 (b) either (i) at the time the buy order was originated, the transferee was outside the
United States or we and any person acting on our behalf reasonably believed that the transferee was outside the United States or (ii) the transaction was executed in, on or through the facilities of a designated
off-shore securities market and neither we nor any person acting on our behalf knows that the transaction has been pre-arranged with a buyer in the United States; 

(c) no directed selling efforts have been made in the United States in contravention of the requirements of Rule 903(a)(2)
or Rule 904(a)(2) of Regulation S, as applicable; and 
 (d) the transaction is not part of a plan or scheme to
evade the registration requirements of the Securities Act. 
 In addition, if the sale is made during a restricted period and the provisions
of Rule 903(b)(2), Rule 903(b)(3) or Rule 904(b)(1) of Regulation S are applicable thereto, we confirm that such sale has been made in accordance with the applicable provisions of Rule 903(b)(2), Rule 903(b)(3) or
Rule 904(b)(1), as the case may be. 
 We also hereby certify that we [are][are not] an Affiliate of the Company and, to our knowledge,
the transferee of the Notes [is][is not] an Affiliate of the Company. 
 The Trustee and the Company are entitled to conclusively rely upon
this letter and are irrevocably authorized to produce this letter or a copy hereof to any interested party in any administrative or legal proceedings or official inquiry with respect to the matters covered hereby. Terms used in this certificate have
the meanings set forth in Regulation S. 
  

			
	Very truly yours,
	
	[Name of Transferor]
		
	By:	 	          

		 	Authorized Signature

  
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 SECTION 2.10. [Reserved]. 

SECTION 2.11. Mutilated, Destroyed, Lost or Stolen Notes. 

If a mutilated Note is surrendered to the Registrar or if the Holder of a Note claims that the Note has been lost, destroyed or wrongfully
taken, the Company shall issue and the Trustee shall authenticate a replacement Note if the requirements of Section 8-405 of the Uniform Commercial Code are met, such that the Holder (a) satisfies
the Company and the Trustee that such Note has been lost, destroyed or wrongfully taken within a reasonable time after such Holder has notice of such loss, destruction or wrongful taking and the Registrar has not registered a transfer prior to
receiving such notification, (b) makes such request to the Company and the Trustee prior to the Note being acquired by a protected purchaser as defined in Section 8-303 of the Uniform Commercial Code
(a “protected purchaser”), (c) satisfies any other reasonable requirements of the Trustee and (d) provides an indemnity bond, as more fully described below; provided, however, if after the delivery of such
replacement Note, a protected purchaser of the Note for which such replacement Note was issued presents for payment or registration such replaced Note, the Trustee and/or the Company shall be entitled to recover such replacement Note from the Person
to whom it was issued and delivered or any Person taking therefrom, except a protected purchaser, and shall be entitled to recover upon the security or indemnity provided therefor to the extent of any loss, damage, cost or expense incurred by the
Company or the Trustee in connection therewith. Such Holder shall furnish an indemnity bond sufficient in the judgment of the (i) Trustee to protect the Trustee and (ii) the Company to protect the Company, the Trustee, the Paying Agent and
the Registrar, from any loss which any of them may suffer if a Note is replaced, and, in the absence of notice to the Company, any Guarantor or the Trustee that such Note has been acquired by a protected purchaser, the Company shall execute, and
upon receipt of a Company Order, the Trustee shall authenticate and make available for delivery, in exchange for any such mutilated Note or in lieu of any such destroyed, lost or stolen Note, a new Note of like tenor and principal amount, bearing a
number not contemporaneously outstanding. 
 In case any such mutilated, destroyed, lost or stolen Note has become or is about to become due
and payable, the Company in its discretion may, instead of issuing a new Note, pay such Note. 
 Upon the issuance of any new Note under
this Section 2.11, the Company may require that such Holder pay a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses
of counsel and of the Trustee) in connection therewith. 
 Subject to the proviso in the initial paragraph of this
Section 2.11, every new Note issued pursuant to this Section 2.11, in lieu of any mutilated, destroyed, lost or stolen Note shall constitute an original additional contractual obligation of the
Company, any Guarantor (if applicable) and any other obligor upon the Notes, whether or not the mutilated, destroyed, lost or stolen Note shall be at any time enforceable by anyone, and shall be entitled to all benefits of this Indenture equally and
proportionately with any and all other Notes duly issued hereunder. 
 The provisions of this Section 2.11 are
exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Notes. 

SECTION 2.12. Outstanding Notes. Notes outstanding at any time are all Notes authenticated by the Trustee except for those cancelled by
it, those delivered to it for cancellation, those paid pursuant to Section 2.11 and those described in this Section 2.12 as not outstanding. A Note does not cease to be outstanding in the event the
Company or an Affiliate of the Company holds the Note; provided, however, that (i) for purposes of determining which are outstanding for consent or voting purposes hereunder, the provisions of
Section 12.4 shall apply and (ii) in determining whether the Trustee shall be protected in making a determination whether the Holders of the requisite principal amount of outstanding Notes are present at a meeting of
Holders of Notes for quorum purposes or have consented to or voted in favor of any request, demand, authorization, direction, notice, consent, waiver, amendment or modification hereunder, or relying upon any such quorum, consent or vote, only Notes
which a Trust Officer of the Trustee actually knows to be held by the Company or an Affiliate of the Company shall not be considered outstanding. 

  
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 If a Note is replaced pursuant to Section 2.11 (other than a
mutilated Note surrendered for replacement), it ceases to be outstanding unless the Trustee and the Company receive proof satisfactory to them that the replaced Note is held by a protected purchaser. A mutilated Note ceases to be outstanding upon
surrender of such Note and replacement pursuant to Section 2.11. 
 If the Paying Agent segregates and holds in
trust, in accordance with this Indenture, on a Redemption Date or maturity date, money sufficient to pay all principal, premium, if any, and accrued interest payable on that date with respect to the Notes (or portions thereof) to be redeemed or
maturing, as the case may be, and the Paying Agent is not prohibited from paying such money to the Holders on that date pursuant to the terms of this Indenture, then on and after that date such Notes (or portions thereof) cease to be outstanding and
interest on them ceases to accrue. 
 SECTION 2.13. Temporary Notes. In the event that Definitive Notes are to be issued under the
terms of this Indenture, until such Definitive Notes are ready for delivery, the Company may prepare and the Trustee shall authenticate temporary Notes. Temporary Notes shall be substantially in the form, and shall carry all rights, of Definitive
Notes but may have variations that the Company considers appropriate for temporary Notes. Without unreasonable delay, the Company shall prepare and the Trustee shall authenticate Definitive Notes. After the preparation of Definitive Notes, the
temporary Notes shall be exchangeable for Definitive Notes upon surrender of the temporary Notes at any office or agency maintained by the Company for that purpose and such exchange shall be without charge to the Holder. Upon surrender for
cancellation of any one or more temporary Notes, the Company shall execute, and the Trustee shall, upon receipt of a Company Order, authenticate and make available for delivery in exchange therefor, one or more Definitive Notes representing an equal
principal amount of Notes. Until so exchanged, the Holder of temporary Notes shall in all respects be entitled to the same benefits under this Indenture as a Holder of Definitive Notes. 

SECTION 2.14. Cancellation. The Company 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 registration of transfer, exchange or payment. The Trustee and no one else shall cancel all Notes surrendered for registration of transfer, exchange, payment or cancellation and
dispose of such Notes in accordance with its internal policies and customary procedures (subject to the record retention requirements of the Exchange Act and the Trustee). If the Company or any Guarantor acquires 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 2.14. The Company may not
issue new Notes to replace Notes it has paid or delivered to the Trustee for cancellation for any reason other than in connection with a transfer or exchange. 

At such time as all beneficial interests in a Global Note have either been exchanged for Definitive Notes, transferred, redeemed, repurchased
or canceled, such Global Note shall be returned by DTC to the Trustee for cancellation or retained and canceled by the Trustee. At any time prior to such cancellation, if any beneficial interest in a Global Note is exchanged for Definitive Notes,
transferred in exchange for an interest in another Global Note, redeemed, repurchased or canceled, the principal amount of Notes represented by such Global Note shall be reduced and an adjustment shall be made on the books and records of the Trustee
(if it is then the Notes Custodian for such Global Note) with respect to such Global Note, by the Trustee or the Notes Custodian, to reflect such reduction. 

SECTION 2.15. Payment of Interest; Defaulted Interest. Interest on any Note which is payable, and is punctually paid or duly provided
for, on any interest payment date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered at the close of business on the regular record date for such payment at the office or agency of the Company
maintained for such purpose pursuant to Section 2.3. 
 Any interest on any Note which is payable, but is not paid
when the same becomes due and payable and such nonpayment continues for a period of 30 days shall forthwith cease to be payable to the Holder on the regular record date, and such defaulted interest and (to the extent lawful) interest on such
defaulted interest at the rate borne by the Notes (such defaulted interest and interest thereon herein collectively called “Defaulted Interest”) shall be paid by the Company, at its election, as provided in clause (a) or
(b) below: 

  
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 (a) The Company may elect to make payment of any Defaulted Interest to the
Persons in whose names the Notes (or their respective predecessor Notes) are registered at the close of business on a Special Record Date (as defined below) for the payment of such Defaulted Interest, which shall be fixed in the following manner.
The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note and the date (not less than 30 days after such notice) of the proposed payment (the “Special Interest Payment
Date”), and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for
such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this Section 2.15(a). Thereupon the Company
shall fix a record date (the “Special Record Date”) for the payment of such Defaulted Interest, which date shall be not more than 20 calendar days and not less than 15 calendar days prior to the Special Interest Payment
Date and not less than 10 calendar days after the receipt by the Trustee of the notice of the proposed payment. The Company shall promptly notify the Trustee in writing of such Special Record Date, and in the name and at the expense of the
Company, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor to be given in the manner provided for in Section 12.1, not
less than 10 calendar days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor having been so given, such Defaulted Interest
shall be paid on the Special Interest Payment Date to the Persons in whose names the Notes (or their respective predecessor Notes) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the
provisions in Section 2.15(b). 
 (b) The Company may make payment of any Defaulted Interest in any
other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Company to the Trustee of the
proposed payment pursuant to this Section 2.15(b), such manner of payment shall be deemed practicable by the Trustee. 

Subject to the foregoing provisions of this Section 2.15, each Note delivered under this Indenture upon registration
of, transfer of or in exchange for or in lieu of any other Note shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Note. 

SECTION 2.16. CUSIP and ISIN Numbers. 

The Company in issuing the Notes may use “CUSIP” and “ISIN” numbers and, if so, the Trustee shall use “CUSIP and
“ISIN” numbers in notices of redemption or purchase as a convenience to Holders; provided, however, that any such notice may state that no representation is made as to the correctness of such numbers either as printed on the
Notes or as contained in any notice of a redemption or purchase and that reliance may be placed only on the other identification numbers printed on the Notes, and any such redemption or purchase shall not be affected by any defect in or omission of
such CUSIP and ISIN numbers. The Company shall promptly notify the Trustee in writing of any change in the CUSIP and ISIN numbers. 
 ARTICLE
III 
 COVENANTS 

SECTION 3.1. Payment of Notes. The Company shall promptly pay the principal of, premium, if any, and interest on the Notes on the dates
and in the manner provided in the Notes and in this Indenture. Principal, premium, if any, and interest shall be considered paid on the date due if by 12:00 p.m. (Eastern time) on such date the Trustee or the Paying Agent holds in accordance with
this Indenture money sufficient to pay all principal, premium, if any, and interest then due and the Trustee or the Paying Agent, as the case may be, is not prohibited from paying such money to the Holders on that date pursuant to the terms of this
Indenture. 
 The Company shall pay interest on overdue principal at the rate specified therefor in the Notes, and it shall pay interest on
overdue installments of interest at the same rate to the extent lawful. 

  
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 Notwithstanding anything to the contrary contained in this Indenture, the Company may, to
the extent it is required to do so by law, deduct or withhold income or other similar taxes imposed by the United States of America from principal or interest payments hereunder. 

SECTION 3.2. Limitation on Indebtedness. 

(a) The Company shall not, and shall not permit any of its Restricted Subsidiaries to, Incur any Indebtedness (including Acquired
Indebtedness); provided, however, that the Company and any of its Restricted Subsidiaries may Incur Indebtedness (including Acquired Indebtedness) if on the date of such Incurrence and after giving pro forma effect thereto
(including pro forma application of the proceeds thereof), the Fixed Charge Coverage Ratio for the Company and its Restricted Subsidiaries is greater than 2.00 to 1.00; provided, further, that
Non-Guarantors may not Incur Indebtedness under this Section 3.2(a) if, after giving pro forma effect to such Incurrence (including a pro forma application of the net proceeds
therefrom), more than an aggregate of the greater of (a) $2,700.0 million and (b) 75.0% of LTM EBITDA of Indebtedness of Non-Guarantors would be outstanding pursuant to this paragraph at such
time. 
 (b) Section 3.2(a) shall not prohibit the Incurrence of the following Indebtedness: 

(1) (X) Indebtedness Incurred under any Credit Facility (other than the ABL) by the Company or any of its Restricted
Subsidiaries (including letters of credit or bankers’ acceptances issued or created under any Credit Facility) and Guarantees in respect of such Indebtedness, up to an aggregate principal amount equal to the sum of (I) the greater of (a)
$600.0 million and (b) the maximum amount of Indebtedness that the Company and its Restricted Subsidiaries could incur such that the Consolidated Secured Leverage Ratio is equal to or less than 4.00 to 1.00 on a pro forma basis
(provided that, for purposes of determining the amount that may be Incurred under this clause (I)(b), all Indebtedness incurred under this clause (I)(b) shall be deemed to be secured by Liens) plus (II) the greater of (a)
$3,600.0 million and (b) 100.0% of LTM EBITDA, in each case, outstanding at any one time, (Y) Indebtedness Incurred under the ABL by the Company or any of its Restricted Subsidiaries (including letters of credit or bankers’
acceptances issued or created under any Credit Facility) and Guarantees in respect of such Indebtedness, up to an aggregate principal amount outstanding at any one time not to exceed the greater of (a) the greater of (i) $3,600.0 million
and (ii) 100.0% of LTM EBITDA and (b) the Borrowing Base as of the date of such incurrence, and (Z) in the case of any refinancing of any Indebtedness not prohibited under this clause or any portion thereof, the aggregate amount of fees,
underwriting discounts, accrued and unpaid interest, premiums (including, without limitation, tender premiums) and other costs and expenses (including, without limitation, original issue discount, upfront fees or similar fees) Incurred in connection
with such refinancing, and any Refinancing Indebtedness in respect thereof; 
 (2) Guarantees by the Company or any
Restricted Subsidiary of Indebtedness or other obligations of the Company or any Restricted Subsidiary so long as the Incurrence of such Indebtedness or other obligation is not prohibited by the terms of this Indenture; 

(3) Indebtedness of the Company owing to and held by any Restricted Subsidiary or Indebtedness of a Restricted Subsidiary owing
to and held by the Company or any Restricted Subsidiary; provided, however, that: 
 (i) any subsequent
issuance or transfer of Capital Stock or any other event which results in any such Indebtedness being held by a Person other than the Company or a Restricted Subsidiary; and 

(ii) any sale or other transfer of any such Indebtedness to a Person other than the Company or a Restricted Subsidiary; 

shall be deemed, in each case, to constitute an Incurrence of such Indebtedness by the Company or such Restricted Subsidiary, as the case may
be; 

  
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 (4) Indebtedness represented by (i) the Notes (other than any
Additional Notes), including any Guarantee thereof, (ii) any Indebtedness (other than Indebtedness incurred pursuant to clauses (1), (2) and (4)(i) above) outstanding on the Issue Date (including the Existing Notes) and any Guarantee
thereof, (iii) Refinancing Indebtedness (including, with respect to the Notes and the Existing Notes, any Guarantee thereof) Incurred in respect of any Indebtedness described in this clause or clause (2), (5) or (8) of this
Section 3.2(b) or Incurred pursuant to Section 3.2(a), and (iv) Management Advances; 

(5) Indebtedness of (x) the Company or any Restricted Subsidiary Incurred or issued to finance an acquisition or
Investment or (y) Persons that are acquired by the Company or any Restricted Subsidiary or merged into, amalgamated or consolidated with the Company or a Restricted Subsidiary in accordance with the terms of this Indenture (including
designating an Unrestricted Subsidiary as a Restricted Subsidiary); provided that such Indebtedness is in an aggregate amount not to exceed (i) the greater of $900.0 million and 25.0% of LTM EBITDA at any time outstanding plus
(ii) unlimited additional Indebtedness if after giving pro forma effect to such acquisition, merger, amalgamation or consolidation, either 

(i) the Company would be permitted to Incur at least $1.00 of additional Indebtedness pursuant to
Section 3.2(a); 
 (ii) either the Fixed Charge Coverage Ratio of the Company and the Restricted
Subsidiaries would not be lower or the Consolidated Total Leverage Ratio of the Company and the Restricted Subsidiaries would not be higher, in each case, than immediately prior to such acquisition, merger, amalgamation or consolidation; or 

(iii) such Indebtedness constitutes Acquired Indebtedness (other than Indebtedness Incurred in contemplation of the transaction
or series of related transactions pursuant to which such Person became a Restricted Subsidiary or was otherwise acquired by the Company or a Restricted Subsidiary); provided, that the only obligors with respect to such Indebtedness shall be
those Persons who were obligors of such Indebtedness prior to such acquisition, merger, amalgamation or consolidation; 
 (6)
Hedging Obligations (excluding Hedging Obligations entered into for speculative purposes); 
 (7) Indebtedness
(i) represented by Finance Lease Obligations or Purchase Money Obligations, in an aggregate outstanding principal amount which, when taken together with the principal amount of all other Indebtedness Incurred pursuant to this clause (7)
and then outstanding, does not exceed the greater of (x) $1,260.0 million and (y) 35.0% of LTM EBITDA (for the avoidance of doubt, Unsecured Finance Leases shall be permitted in an unlimited amount pursuant to clause (22)) and any
Refinancing Indebtedness in respect thereof and (ii) arising out of Sale and Leaseback Transactions; 
 (8) Indebtedness
in respect of (i) workers’ compensation claims, health, disability or other employee benefits, property, casualty or liability insurance, self-insurance obligations, customer guarantees, performance, indemnity, surety, judgment, bid,
appeal, advance payment (including progress premiums), customs, value added or other tax or other guarantees or other similar bonds, instruments or obligations and completion guarantees and warranties provided by the Company or a Restricted
Subsidiary or relating to liabilities, obligations or guarantees; (ii) the honoring by a bank or other financial institution of a check, draft or similar instrument drawn against insufficient funds; provided, however, that such
Indebtedness is extinguished within five Business Days of Incurrence; (iii) customer deposits and advance payments received from customers for goods or services purchased in the ordinary course of business or consistent with past practice;
(iv) letters of credit, bankers’ acceptances, discounted bills of exchange, discounting or factoring of receivables or payables for credit management purposes, warehouse receipts, guarantees or other similar instruments or obligations
issued or entered into, or relating to liabilities or obligations; (v) any customary treasury, depositary, cash management, automatic clearinghouse arrangements, overdraft protections, credit or debit card, purchase card, electronic funds
transfer, cash pooling or netting or setting off arrangements or similar arrangements; and (vi) Settlement Indebtedness; 

  
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 (9) Indebtedness arising from agreements providing for guarantees,
indemnification, obligations in respect of earn-outs, deferred purchase price or other adjustments of purchase price or, in each case, similar obligations, in each case, Incurred or assumed in connection with
the acquisition or disposition of any business or assets or Person or any Capital Stock of a Subsidiary (other than Guarantees of Indebtedness Incurred by any Person acquiring or disposing of such business or assets or such Subsidiary for the
purpose of financing such acquisition or disposition); provided that the maximum liability of the Company and its Restricted Subsidiaries in respect of all such Indebtedness in connection with a disposition shall at no time exceed the gross
proceeds, including the fair market value of non-cash proceeds (measured at the time received and without giving effect to any subsequent changes in value), actually received by the Company and its Restricted
Subsidiaries in connection with such disposition; 
 (10) Indebtedness in an aggregate outstanding principal amount which,
when taken together with the principal amount of all other Indebtedness Incurred pursuant to this clause (10) and then outstanding, will not exceed 100.0% of the Net Cash Proceeds received by the Company from the issuance or sale (other than to
a Restricted Subsidiary) of its Capital Stock or otherwise contributed to the equity (in each case, other than through the issuance of Disqualified Stock, Designated Preferred Stock or an Excluded Contribution) of the Company, in each case,
subsequent to the Issue Date and any Refinancing Indebtedness in respect thereof; provided, however, that (i) any such Net Cash Proceeds that are so received or contributed shall not increase the amount available for making
Restricted Payments to the extent the Company and its Restricted Subsidiaries Incur Indebtedness in reliance thereon and (ii) any Net Cash Proceeds that are so received or contributed shall be excluded for purposes of Incurring Indebtedness
pursuant to this clause (10) to the extent such Net Cash Proceeds or cash have been applied to make Restricted Payments; 

(11) Indebtedness of Non-Guarantors in an aggregate amount not to exceed the greater of
(a) $900.0 million and (b) 25.0% of LTM EBITDA at any time outstanding and any Refinancing Indebtedness in respect thereof; 

(12) Indebtedness consisting of promissory notes issued by the Company or any of its Subsidiaries to any current or former
employee, director or consultant of the Company, any of its Subsidiaries or any Parent Entity (or permitted transferees, assigns, estates, or heirs of such employee, director or consultant), to finance the purchase or redemption of Capital Stock of
the Company or any Parent Entity that is not prohibited by Section 3.3; 
 (13) Indebtedness of the
Company or any of its Restricted Subsidiaries consisting of (i) the financing of insurance premiums or (ii) take-or-pay obligations contained in supply
arrangements; 
 (14) Indebtedness in an aggregate outstanding principal amount which when taken together with the principal
amount of all other Indebtedness Incurred pursuant to this clause (14) and then outstanding will not exceed the greater of (a) $2,700.0 million and (b) 75.0% of LTM EBITDA and any Refinancing Indebtedness in respect thereof; 

(15) Indebtedness in respect of a Receivables Facility; 

(16) Indebtedness of the Company or any of its Restricted Subsidiaries arising pursuant to any Permitted Tax Restructuring;

 (17) Indebtedness of the seller of any business or assets permitted to be acquired by the Company or any Restricted
Subsidiary under this Indenture; provided that the aggregate amount of Indebtedness Incurred pursuant to this clause and then outstanding will not exceed the greater of (a) $540.0 million and (b) 15.0% of LTM EBITDA; 

(18) any obligation, or guaranty of any obligation, of the Company or any Restricted Subsidiary to reimburse or indemnify a
Person extending credit to customers of the Company or a Restricted Subsidiary for all or any portion of the amounts payable by such customers to the Person extending such credit; 

  
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 (19) Indebtedness to a customer to finance the acquisition of any equipment
necessary to perform services for such customer; provided that the terms of such Indebtedness are consistent with those entered into with respect to similar Indebtedness prior to the Issue Date, including that (1) the repayment of such
Indebtedness is conditional upon such customer ordering a specific volume of goods and (2) such Indebtedness does not bear interest or provide for scheduled amortization or maturity; 

(20) Indebtedness in an aggregate outstanding principal amount which, when taken together with the principal amount of all
other Indebtedness Incurred pursuant to this clause and then outstanding, will not exceed the Available RP Capacity Amount; 

(21) obligations in respect of Disqualified Stock in an amount not to exceed the greater of (a) $360.0 million and
(b) 10.0% of LTM EBITDA outstanding at any time; 
 (22) Unsecured Finance Leases; and 

(23) Indebtedness incurred by the Company or any of its Restricted Subsidiaries to the extent that the net proceeds thereof are
promptly deposited with the Trustee to satisfy or discharge the Notes or exercise the Company’s legal defeasance or covenant defeasance, in each case, in accordance with this Indenture. 

(c) For purposes of determining compliance with, and the outstanding principal amount of any particular Indebtedness Incurred pursuant to and
in compliance with, this Section 3.2: 
 (1) subject to clause (3) below, in the event that
all or any portion of any item of Indebtedness meets the criteria of more than one of the types of Indebtedness described in the first and second paragraphs of this covenant, the Company, in its sole discretion, shall classify, and may from time to
time reclassify, such item of Indebtedness and only be required to include the amount and type of such Indebtedness in Section 3.2(a) or one of the clauses of Section 3.2(b); 

(2) additionally, all or any portion of any item of Indebtedness may later be reclassified as having been Incurred pursuant to
any type of Indebtedness described in Section 3.2(a) or (b) so long as such Indebtedness is permitted to be Incurred pursuant to such provision and any related Liens are permitted to be Incurred at the time of
reclassification (it being understood that any Indebtedness incurred pursuant to Section 3.2(b) shall cease to be deemed incurred or outstanding for purposes of such clause but shall be deemed incurred for the purposes of
Section 3.2(a) from and after the first date on which the Company or its Restricted Subsidiaries could have incurred such Indebtedness under Section 3.2(a) without reliance on such clause); 

(3) all Indebtedness outstanding on the Issue Date under the ABL shall be deemed to have been Incurred on the Issue Date under
Section 3.2(b)(1); 
 (4) in the case of any Refinancing Indebtedness, such Indebtedness shall not
include the aggregate amount of fees, underwriting discounts, accrued and unpaid interest, dividends, premiums (including, without limitation, tender premiums), defeasance costs, fees and other costs and expenses (including, without limitation,
original issue discount, upfront fees or similar fees) Incurred in connection with such refinancing; 
 (5) Guarantees of, or
obligations in respect of letters of credit, bankers’ acceptances or other similar instruments relating to, or Liens securing, Indebtedness that is otherwise included in the determination of a particular amount of Indebtedness shall not be
included; 
 (6) if obligations in respect of letters of credit, bankers’ acceptances or other similar instruments are
Incurred pursuant to any Credit Facility and are being treated as incurred pursuant to Section 3.2(a) or any clause of Section 3.2(b) and the letters of credit, bankers’ acceptances or other
similar instruments relate to other Indebtedness, then such other Indebtedness shall not be included; 

  
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 (7) the principal amount of any Disqualified Stock of the Company or a
Restricted Subsidiary, or Preferred Stock of a Restricted Subsidiary, will be equal to the greater of the maximum mandatory redemption or repurchase price (not including, in either case, any redemption or repurchase premium) or the liquidation
preference thereof; 
 (8) Indebtedness permitted by this covenant need not be permitted solely by reference to one provision
permitting such Indebtedness but may be permitted in part by one such provision and in part by one or more other provisions of this covenant permitting such Indebtedness; 

(9) in the event that the Company or a Restricted Subsidiary enters into or increases commitments under a revolving credit
facility, the Fixed Charge Coverage Ratio, the Consolidated Secured Leverage Ratio or the Consolidated Total Leverage Ratio, as applicable, for borrowings and reborrowings thereunder (and including issuance and creation of letters of credit and
bankers’ acceptances thereunder) will, at the Company’s option as elected on the date the Company or a Restricted Subsidiary, as the case may be, enters into or increases such commitments, either (a) be determined on the date of such
revolving credit facility or such increase in commitments (assuming that the full amount thereof has been borrowed as of such date), and, if such Fixed Charge Coverage Ratio, the Consolidated Secured Leverage Ratio or the Consolidated Total Leverage
Ratio, as applicable, test is satisfied with respect thereto at such time, any borrowing or reborrowing thereunder (and the issuance and creation of letters of credit and bankers’ acceptances thereunder) will be permitted under this covenant
irrespective of the Fixed Charge Coverage Ratio, the Consolidated Secured Leverage Ratio or the Consolidated Total Leverage Ratio, as applicable, at the time of any borrowing or reborrowing (or issuance or creation of letters of credit or
bankers’ acceptances thereunder) (the committed amount permitted to be borrowed or reborrowed (and the issuance and creation of letters of credit and bankers’ acceptances) on a date pursuant to the operation of this clause (a) shall
be the “Reserved Indebtedness Amount” as of such date for purposes of the Fixed Charge Coverage Ratio, the Consolidated Secured Leverage Ratio or the Consolidated Total Leverage Ratio, as applicable) or (b) be determined on the
date such amount is borrowed pursuant to any such facility or increased commitment; 
 (10) in the event that the Company or
a Restricted Subsidiary (x) incurs Indebtedness to finance an acquisition or (y) assumes Indebtedness of Persons that are acquired by the Company or any Restricted Subsidiary or merged into the Company or a Restricted Subsidiary in
accordance with the terms of this Indenture, the date of determination of the Fixed Charge Coverage Ratio, the Consolidated Secured Leverage Ratio or the Consolidated Total Leverage Ratio, as applicable, shall, at the option of the Company, be the
date that a definitive agreement for such acquisition is entered into and the Fixed Charge Coverage Ratio, the Consolidated Secured Leverage Ratio or the Consolidated Total Leverage Ratio, as applicable, shall be calculated giving pro forma effect
to such acquisition and the other transactions to be entered into in connection therewith (including any Incurrence of Indebtedness and the use of proceeds thereof) consistent with the definition of the Fixed Charge Coverage Ratio, the Consolidated
Secured Leverage Ratio or the Consolidated Total Leverage Ratio, as applicable, and, for the avoidance of doubt, (A) if any such ratios are exceeded as a result of fluctuations in such ratio (including due to fluctuations in the EBITDA of the
Company or the target company) at or prior to the consummation of the relevant acquisition, such ratios will not be deemed to have been exceeded as a result of such fluctuations solely for purposes of determining whether such acquisition and any
related transactions are permitted hereunder and (B) such ratios shall not be tested at the time of consummation of such acquisition or related transactions; provided, further, that if the Company elects to have such determinations occur
at the time of entry into such definitive agreement, (i) any such transaction shall be deemed to have occurred on the date the definitive agreement is entered into and to be outstanding thereafter for purposes of calculating any ratios under
this Indenture after the date of such agreement and before the earlier of the date of consummation of such acquisition or the date such agreement is terminated or expires without consummation of such acquisition and (ii) to the extent any
covenant baskets were utilized in satisfying any covenants, such baskets shall be deemed utilized until the earlier of the date of consummation of such acquisition or the date such agreement is terminated or expires without consummation of such
acquisition, but any calculation of Consolidated EBITDA for purposes of other Incurrences of Indebtedness or Liens or making of Restricted Payments (not related to such acquisition) shall not reflect such acquisition until it has been consummated;

  
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 (11) notwithstanding anything in this covenant to the contrary, in the case
of any Indebtedness incurred to refinance Indebtedness initially incurred in reliance on Section 3.2(b) measured by reference to a percentage of LTM EBITDA at the time of Incurrence, if such refinancing would cause the
percentage of LTM EBITDA restriction to be exceeded if calculated based on the percentage of LTM EBITDA on the date of such refinancing, such percentage of LTM EBITDA restriction shall not be deemed to be exceeded so long as the principal amount of
such refinancing Indebtedness does not exceed the principal amount of such Indebtedness being refinanced, plus accrued and unpaid interest, dividends, premiums (including tender premiums), defeasance costs, underwriting discounts, fees, costs and
expenses (including original issue discount, upfront fees or similar fees) in connection with such refinancing; and 
 (12)
the amount of Indebtedness issued at a price that is less than the principal amount thereof will be equal to the amount of the liability in respect thereof determined on the basis of GAAP. 

Accrual of interest, accrual of dividends, the accretion of accreted value, the accretion or amortization of original issue discount, the
payment of interest in the form of additional Indebtedness, the payment of dividends in the form of additional shares of Preferred Stock or Disqualified Stock or the reclassification of commitments or obligations not treated as Indebtedness due to a
change in GAAP, will not be deemed to be an Incurrence of Indebtedness for purposes of this Section 3.2. 
 If at
any time an Unrestricted Subsidiary becomes a Restricted Subsidiary, any Indebtedness of such Subsidiary shall be deemed to be Incurred by a Restricted Subsidiary of the Company as of such date (and, if such Indebtedness is not permitted to be
Incurred as of such date under this Section 3.2, the Company shall be in default of this Section 3.2). 

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, 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 (a) the principal amount of such Indebtedness being refinanced plus (b) the aggregate amount of accrued and unpaid interest, dividends, premiums (including tender premiums), defeasance costs, underwriting
discounts, fees, costs and expenses (including original issue discount, upfront fees or similar fees) Incurred in connection with such refinancing. 

Notwithstanding any other provision of this Section 3.2, the maximum amount of Indebtedness that the Company or a
Restricted Subsidiary may Incur pursuant to this Section 3.2 shall not be deemed to be exceeded solely as a result of fluctuations in the exchange rate of currencies. 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 Refinancing Indebtedness is denominated that
is in effect on the date of such refinancing. 
 The Company shall not, and shall not permit any Guarantor to, directly or indirectly, Incur
any Indebtedness (including Acquired Indebtedness) that is subordinated or junior in right of payment to any Indebtedness of the Company or such Guarantor, as the case may be, unless such Indebtedness is expressly subordinated in right of payment to
the Notes or such Guarantor’s Note Guarantee to the extent and in the same manner as such Indebtedness is subordinated to other Indebtedness of the Company or such Guarantor, as the case may be; provided that for purposes of this
Indenture, (1) unsecured Indebtedness shall not be treated as subordinated or junior to Secured Indebtedness merely because it is unsecured and (2) senior Indebtedness shall not be treated as subordinated or junior to any other senior
Indebtedness merely because it has a junior priority with respect to the same collateral or is secured by different collateral or because it is guaranteed by different obligors. 

  
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 SECTION 3.3. Limitation on Restricted Payments. 

(a) The Company shall not, and shall not permit any of its Restricted Subsidiaries, directly or indirectly, to: 

(1) declare or pay any dividend or make any distribution on or in respect of the Company’s or any Restricted
Subsidiary’s Capital Stock (including, without limitation, any such payment in connection with any merger or consolidation involving the Company or any of its Restricted Subsidiaries) except: 

(i) dividends, payments or distributions payable in Capital Stock of the Company (other than Disqualified Stock) or in options,
warrants or other rights to purchase such Capital Stock of the Company; or 
 (ii) dividends, payments or distributions
payable to the Company or a Restricted Subsidiary (and, in the case of the Company or any such Restricted Subsidiary making such dividend or distribution, to holders of its Capital Stock other than the Company or another Restricted Subsidiary on no
more than a pro rata basis); 
 (2) purchase, repurchase, redeem, retire or otherwise acquire or retire for value any
Capital Stock of the Company or any Parent Entity held by Persons other than the Company or a Restricted Subsidiary; 
 (3)
purchase, repurchase, redeem, defease or otherwise acquire or retire for value, prior to scheduled maturity, scheduled repayment or scheduled sinking fund payment, any Subordinated Indebtedness (other than (i) any such purchase, repurchase,
redemption, defeasance or other acquisition or retirement in anticipation of satisfying a sinking fund obligation, principal installment or final maturity, in each case, due within one year of the date of purchase, repurchase, redemption, defeasance
or other acquisition or retirement and (ii) any Indebtedness Incurred pursuant to Section 3.2(b)(3)); or 

(4) make any Restricted Investment; 

(any such dividend, distribution, payment, purchase, redemption, repurchase, defeasance, other acquisition, retirement or Restricted Investment
referred to in clauses (1) through (4) are referred to herein as a “Restricted Payment”), if at the time the Company or such Restricted Subsidiary makes such Restricted Payment: 

(i) an Event of Default shall have occurred and be continuing (or would immediately thereafter result therefrom); 

(ii) the Company is not able to Incur an additional $1.00 of Indebtedness pursuant to Section 3.2(a)
immediately after giving effect, on a pro forma basis, to such Restricted Payment; or 
 (iii) the aggregate amount of
such Restricted Payment and all other Restricted Payments made subsequent to July 31, 2015 (and not returned or rescinded) (including Permitted Payments made pursuant to Sections 3.3(b)(1) (without duplication) and
(10), but excluding all other Restricted Payments made pursuant to Section 3.3(b)) would exceed the sum of (without duplication): 

(A) the greater of $900.0 million and 25.0% of LTM EBITDA; 

(B) 50.0% of Consolidated Net Income for the period (treated as one accounting period) from July 1, 2016 to the end of
the most recent fiscal quarter ending prior to the date of such Restricted Payment for which consolidated financial statements of the Company are available (which may, at the Company’s election, be internal financial statements) (or, in the
case such Consolidated Net Income is a deficit, minus 100.0% of such deficit); 

  
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 (C) 100.0% of the aggregate cash, and the fair market value of property or
assets or marketable securities, received by the Company from the issue or sale of its Capital Stock or as the result of a merger or consolidation with another Person subsequent to the 2024 Notes Issue Date or otherwise contributed to the equity
(other than through the issuance of Disqualified Stock or Designated Preferred Stock) of the Company subsequent to the 2024 Notes Issue Date (other than (x) Net Cash Proceeds or property or assets or marketable securities received from an
issuance or sale of such Capital Stock to a Restricted Subsidiary or an employee stock ownership plan or trust established by the Company or any Subsidiary of the Company for the benefit of its employees to the extent funded by the Company or any
Restricted Subsidiary, (y) cash or property or assets or marketable securities to the extent that any Restricted Payment has been made from such proceeds in reliance on Section 3.3(b)(6) and (z) Excluded
Contributions); 
 (D) 100.0% of the aggregate Net Cash Proceeds, and the fair market value of property or assets or
marketable securities, received by the Company or any Restricted Subsidiary from the issuance or sale (other than to the Company or a Restricted Subsidiary of the Company or an employee stock ownership plan or trust established by the Company or any
Subsidiary of the Company for the benefit of their employees to the extent funded by the Company or any Restricted Subsidiary) by the Company or any Restricted Subsidiary subsequent to the 2024 Notes Issue Date of any Indebtedness, Disqualified
Stock or Designated Preferred Stock that has been converted into or exchanged for Capital Stock of the Company (other than Disqualified Stock or Designated Preferred Stock) plus, without duplication, the amount of any cash, and the fair
market value of property or assets or marketable securities, received by the Company or any Restricted Subsidiary upon such conversion or exchange; 

(E) 100.0% of the aggregate amount received in cash and the fair market value, as determined in good faith by the Company, of
marketable securities or other property received by means of: (i) the sale or other disposition (other than to the Company or a Restricted Subsidiary) of, or other returns on Investment from, Restricted Investments made by the Company or its
Restricted Subsidiaries and repurchases and redemptions of, or cash distributions or cash interest received in respect of, such Restricted Investments from the Company or its Restricted Subsidiaries and repayments of loans or advances, and releases
of guarantees, which constitute Restricted Investments by the Company or its Restricted Subsidiaries, in each case after the 2024 Notes Issue Date; or (ii) the sale (other than to the Company or a Restricted Subsidiary) of the stock of an
Unrestricted Subsidiary or a dividend, payment or distribution from an Unrestricted Subsidiary (other than to the extent of the amount of the Investment that constituted a Permitted Investment or was made pursuant to
Section 3.3(b)(16) and will increase the amount available under the applicable clause of the definition of “Permitted Investment” or Section 3.3(b)(16), as the case may be) or a dividend
from an Unrestricted Subsidiary after the 2024 Notes Issue Date; and 
 (F) in the case of the redesignation of an
Unrestricted Subsidiary as a Restricted Subsidiary or the merger, amalgamation or consolidation of an Unrestricted Subsidiary into the Company or a Restricted Subsidiary or the transfer of all or substantially all of the assets of an Unrestricted
Subsidiary to the Company or a Restricted Subsidiary after the 2024 Notes Issue Date, the fair market value of the Investment in such Unrestricted Subsidiary (or the assets transferred), as determined in good faith by the Company at the time of the
redesignation of such Unrestricted Subsidiary as a Restricted Subsidiary or at the time of such merger, amalgamation or consolidation or transfer of assets (after taking into consideration any Indebtedness associated with the Unrestricted Subsidiary
so designated or merged, amalgamated or consolidated or Indebtedness associated with the assets so transferred), other than to the extent of the amount of the Investment that constituted a Permitted Investment or was made pursuant to
Section 3.3(b)(16) and will increase the amount available under the applicable clause of the definition of “Permitted Investment” or Section 3.3(b)(16), as the case may be. 

  
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 (b) The foregoing provisions of Section 3.3(a) will not prohibit
any of the following (collectively, “Permitted Payments”): 
 (1) the payment of any dividend or
distribution within 60 days after the date of declaration thereof, if at the date of declaration such payment would have complied with the provisions of this Indenture or the redemption, repurchase or retirement of Indebtedness if, at the date of
any redemption notice, such payment would have complied with the provisions of this Indenture as if it were and is deemed at such time to be a Restricted Payment at the time of such notice; 

(2) (a) any prepayment, purchase, repurchase, redemption, defeasance, discharge or other acquisition or retirement of Capital
Stock, including any accrued and unpaid dividends thereon (“Treasury Capital Stock”) or Subordinated Indebtedness made by exchange (including any such exchange pursuant to the exercise of a conversion right or privilege in
connection with which cash is paid in lieu of the issuance of fractional shares) for, or out of the proceeds of the substantially concurrent sale of, Capital Stock of the Company (other than Disqualified Stock or Designated Preferred Stock)
(“Refunding Capital Stock”) or a substantially concurrent contribution to the equity (other than through the issuance of Disqualified Stock or Designated Preferred Stock or through an Excluded Contribution) of the Company;
provided, however, that to the extent so applied, the Net Cash Proceeds, or fair market value of property or assets or of marketable securities, from such sale of Capital Stock or such contribution will be excluded from
Section 3.3(a)(iii), (b) the declaration and payment of dividends on Treasury Capital Stock out of the proceeds of the substantially concurrent sale or issuance (other than to a Subsidiary of the Company or to an employee
stock ownership plan or any trust established by the Company or any of its Subsidiaries) of Refunding Capital Stock; provided, however, that to the extent so applied, the Net Cash Proceeds, or fair market value of property or assets or
of marketable securities, from such sale of Capital Stock or such contribution will be excluded from Section 3.3(a)(iii), and (c) if immediately prior to the retirement of Treasury Capital Stock, the declaration and payment of dividends
thereon was permitted under Section 3.3(b)(13), 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, retire or
otherwise acquire any Capital Stock of a Parent Entity) in an aggregate amount per year no greater than the aggregate amount of dividends per annum that were declarable and payable on such Treasury Capital Stock immediately prior to such retirement;

 (3) any prepayment, purchase, repurchase, exchange, redemption, defeasance, discharge or other acquisition or retirement
of Subordinated Indebtedness made by exchange for, or out of the proceeds of the substantially concurrent sale of, Refinancing Indebtedness permitted to be Incurred pursuant to Section 3.2; 

(4) any prepayment, purchase, repurchase, exchange, redemption, defeasance, discharge or other acquisition or retirement of
Preferred Stock of the Company or a Restricted Subsidiary made by exchange for or out of the proceeds of the substantially concurrent sale of Preferred Stock of the Company or a Restricted Subsidiary, as the case may be, that, in each case, is
permitted to be Incurred pursuant to Section 3.2; 
 (5) any prepayment, purchase, repurchase,
exchange, redemption, defeasance, discharge or other acquisition or retirement of Subordinated Indebtedness or Disqualified Stock or Preferred Stock of a Restricted Subsidiary: 

(i) from Net Available Cash to the extent permitted under Section 3.5, but only if the Company shall
have first complied with the terms described under Section 3.5 and purchased all Notes tendered pursuant to any offer to repurchase all the Notes required thereby, prior to prepaying, purchasing, repurchasing, redeeming,
defeasing, discharging or otherwise acquiring or retiring such Subordinated Indebtedness, Disqualified Stock or Preferred Stock; or 

(ii) to the extent required by the agreement governing such Subordinated Indebtedness, Disqualified Stock or Preferred Stock
following the occurrence of (i) a Change of Control (or other similar event described therein as a “change of control”) or (ii) an Asset Disposition (or other similar event described therein as an “asset disposition” or
“asset sale,” but only if the Company shall have 

  
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first complied with Section 3.5 or Section 3.9, as applicable, and purchased all Notes tendered pursuant to the offer to repurchase all the
Notes required thereby, prior to purchasing, repurchasing, redeeming, defeasing or otherwise acquiring or retiring such Subordinated Indebtedness, Disqualified Stock or Preferred Stock; or 

(iii) consisting of Acquired Indebtedness (other than Indebtedness Incurred (A) to provide all or any portion of the funds
utilized to consummate the transaction or series of related transactions pursuant to which such Person became a Restricted Subsidiary or was otherwise acquired by the Company or a Restricted Subsidiary or (B) otherwise in connection with or
contemplation of such acquisition); 
 (6) a Restricted Payment to pay for the prepayment, purchase, repurchase, redemption,
defeasance, discharge, retirement or other acquisition or retirement for value of Capital Stock of the Company or of any Parent Entity held by any future, present or former employee, director, officer, manager, contractor, consultant or advisor (or
their respective Controlled Investment Affiliates or Immediate Family Members) of the Company, any of its Subsidiaries or of any Parent Entity (or any of their permitted transferees, assigns, estates, trusts or heirs) either pursuant to any
management equity plan or stock option plan or any other management or employee benefit plan or agreement or upon the termination of such employee, director or consultant’s employment or directorship; provided, however, that the
aggregate Restricted Payments made under this clause (6) do not exceed the greater of $360.0 million and 10.0% of LTM EBITDA in any calendar year (with unused amounts in any calendar year being carried over to succeeding calendar years
subject to a maximum of the greater of $720.0 million and 20.0% of LTM EBITDA in any calendar year); provided further that such amount in any calendar year may be increased by an amount not to exceed: 

(i) the cash proceeds from the sale of Capital Stock (other than Disqualified Stock or Designated Preferred Stock) of the
Company and, to the extent contributed to the capital of the Company (other than through the issuance of Disqualified Stock or Designated Preferred Stock or an Excluded Contribution), Capital Stock of any Parent Entity, in each case to members of
management, directors or consultants (or their respective Controlled Investment Affiliates or Immediate Family Members) of the Company, any of its Subsidiaries or any Parent Entity that occurred after the Issue Date, to the extent the cash proceeds
from the sale of such Capital Stock have not otherwise been applied to the payment of Restricted Payments by virtue of Section 3.3(a)(iii); plus 

(ii) the cash proceeds of key man life insurance policies received by the Company and its Restricted Subsidiaries after the
Issue Date; less 
 (iii) the amount of any Restricted Payments made in previous calendar years pursuant to
clauses (i) and (ii) of this clause (6); 
 provided that the Company may elect to apply all or any portion of the
aggregate increase contemplated by subclauses (i) and (ii) of this clause in any fiscal year; and provided further that cancellation of Indebtedness owing to the Company or any Restricted Subsidiary from any future, present or former
members of management, directors, employees or consultants (or their respective Controlled Investment Affiliates or Immediate Family Members) of the Company or Restricted Subsidiaries or any Parent Entity in connection with a repurchase of Capital
Stock of the Company or any Parent Entity will not be deemed to constitute a Restricted Payment for purposes of this covenant or any other provision of this Indenture; 

(7) the declaration and payment of dividends on Disqualified Stock, or Preferred Stock of a Restricted Subsidiary, Incurred in
accordance with Section 3.2; 
 (8) purchases, repurchases, redemptions, defeasances or other
acquisitions or retirements of Capital Stock deemed to occur upon the exercise of stock options, warrants or other rights in respect thereof if such Capital Stock represents a portion of the exercise price thereof; 

  
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 (9) dividends, loans, advances or distributions to any Parent Entity or
other payments by the Company or any Restricted Subsidiary in amounts equal to (without duplication): 
 (i) the amounts
required for any Parent Entity to pay any Parent Entity Expenses or any Related Taxes; 
 (ii) amounts constituting or to be
used for purposes of making payments to the extent specified in Sections 3.8(b)(2), (3), (5), (11) and (12); and 

(iii) up to the greater of $216.0 million and 6.0% of LTM EBITDA per calendar year; 

(10) the declaration and payment by the Company of dividends on the common stock or common equity interests of the Company or
any Parent Entity (and any equivalent declaration and payment of a distribution of any security exchangeable for such common stock or common equity interests to the extent required by the terms of any such exchangeable securities and any Restricted
Payment to any such Parent Entity to fund the payment by such Parent Entity of dividends on such entity’s Capital Stock) following a public offering of such common stock or common equity interests (or such exchangeable securities, as
applicable), in an amount in any fiscal year not to exceed the sum of (a) 6.0% of the proceeds received by or contributed to the Company in or from any such public offering and (b) an aggregate amount per annum not to exceed 5.0% of Market
Capitalization; 
 (11) payments by the Company, or loans, advances, dividends or distributions to any Parent Entity to make
payments, to holders of Capital Stock of the Company or any Parent Entity in lieu of the issuance of fractional shares of such Capital Stock; provided, however, that any such payment, loan, advance, dividend or distribution shall not
be for the purpose of evading any limitation of this covenant or otherwise to facilitate any dividend or other return of capital to the holders of such Capital Stock (as determined in good faith by the Board of Directors); 

(12) Restricted Payments that are made with Excluded Contributions; 

(13) (i) the declaration and payment of dividends on Designated Preferred Stock of the Company issued after the Issue
Date; (ii) the declaration and payment of dividends to a Parent Entity in an amount sufficient to allow the Parent Entity to pay dividends to holders of its Designated Preferred Stock issued after the Issue Date; and (iii) the declaration
and payment of dividends on Refunding Capital Stock that is Preferred Stock; provided, however, that, in the case of clauses (i) and (ii), the amount of all dividends declared or paid to a Person pursuant to such clauses shall not
exceed the cash proceeds received by the Company or the aggregate amount contributed in cash to the equity of the Company (other than through the issuance of Disqualified Stock or an Excluded Contribution of the Company), from the issuance or sale
of such Designated Preferred Stock; provided further, in the case of clauses (i), (ii) and (iii), that for the most recently ended four fiscal quarters for which consolidated financial statements are available (which may, at the
Company’s election, be internal financial statements) immediately preceding the date of issuance of such Designated Preferred Stock or declaration of such dividends on such Refunding Capital Stock, after giving effect to such payment on a pro
forma basis the Company would be permitted to Incur at least $1.00 of additional Indebtedness pursuant to the test set forth in Section 3.2(a); 

(14) dividends or other distributions of Capital Stock of, or Indebtedness owed to the Company or a Restricted Subsidiary by,
Unrestricted Subsidiaries (unless the Unrestricted Subsidiary’s principal asset is cash or Cash Equivalents); 
 (15)
distributions or payments of Receivables Fees; 
 (16) so long as no Event of Default has occurred and is continuing (or
would result therefrom), (i) Restricted Payments (including loans or advances) in an aggregate amount outstanding at the time made not to exceed the greater of $900.0 million and 25.0% of LTM EBITDA at such time, and (ii) any Restricted

  
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Payments, so long as, immediately after giving pro forma effect to the payment of any such Restricted Payment and the Incurrence of any Indebtedness the net proceeds of which are used to make
such Restricted Payment, the Consolidated Total Leverage Ratio shall be no greater than 4.00 to 1.00; 
 (17) mandatory
redemptions of Disqualified Stock issued as a Restricted Payment or as consideration for a Permitted Investment; 
 (18) the
redemption, defeasance, repurchase, exchange or other acquisition or retirement of Subordinated Indebtedness of the Company or any Guarantor in an aggregate amount at any one time outstanding taken together with all other redemptions, defeasances,
repurchases, exchanges or other acquisitions or retirements of Subordinated Indebtedness made pursuant to this clause (18) not to exceed the greater of (x) $720.0 million and (y) 20.0% of LTM EBITDA at the time of such redemption,
defeasance, repurchase, exchange or other acquisition or retirement of Subordinated Indebtedness; and 
 (19) any Restricted
Payment made in connection with any Permitted Tax Restructuring. 
 For purposes of determining compliance with this
Section 3.3, (a) in the event that a Restricted Payment or Investment (or portion thereof) meets the criteria of more than one of the categories of Permitted Payments described in Sections 3.3(b)(1) through
(19) above, or is permitted pursuant to Section 3.3(a) and/or one or more of the clauses contained in the definition of “Permitted Investment,” the Company will be entitled to divide or classify such
Restricted Payment or Investment (or portion thereof) on the date of its payment or later divide, classify or reclassify in whole or in part in its sole discretion (based on circumstances existing on the date of such division, classification or
reclassification) such Restricted Payment or Investment (or portion thereof) in any manner that complies with this Section 3.3, including as an Investment pursuant to one or more of the clauses contained in the definition
of “Permitted Investment” and (b) any amount permitted by this Section 3.3 shall be reduced by any corresponding amount of Indebtedness outstanding that was incurred pursuant to
Section 3.2(b)(20). 
 The amount of all Restricted Payments (other than cash) shall be the fair market value on
the date of such Restricted Payment of the asset(s) or securities proposed to be paid, transferred or issued by the Company or such Restricted Subsidiary, as the case may be, pursuant to such Restricted Payment. The fair market value of any cash
Restricted Payment shall be its face amount, and the fair market value of any non-cash Restricted Payment, property or assets other than cash shall be determined conclusively by the Company acting in good
faith. 
 SECTION 3.4. Limitation on Restrictions on Distributions from Restricted Subsidiaries. 

(a) The Company shall not, and shall not permit any Restricted Subsidiary to, create or otherwise cause or permit to exist or become effective
any consensual encumbrance or consensual restriction on the ability of any Restricted Subsidiary to: 
 (1) pay dividends or
make any other distributions in cash or otherwise on its Capital Stock or pay any Indebtedness or other obligations owed to the Company or any Restricted Subsidiary; 

(2) make any loans or advances to the Company or any Restricted Subsidiary; or 

(3) sell, lease or transfer any of its property or assets to the Company or any Restricted Subsidiary; 

provided that (x) the priority of any Preferred Stock in receiving dividends or liquidating distributions prior to dividends or liquidating
distributions being paid on common stock and (y) the subordination of (including the application of any standstill requirements to) loans or advances made to the Company or any Restricted Subsidiary to other Indebtedness Incurred by the Company
or any Restricted Subsidiary shall not be deemed to constitute such an encumbrance or restriction. 

  
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 (b) The provisions of Section 3.4(a) shall not prohibit: 

(1) any encumbrance or restriction pursuant to (i) any Credit Facility, (ii) the Existing Notes, including any
Guarantee thereof or (iii) any other agreement or instrument, in each case, in effect at or entered into on the Issue Date; 

(2) any encumbrance or restriction pursuant to this Indenture, the Notes and the Note Guarantees; 

(3) any encumbrance or restriction pursuant to applicable law, rule, regulation or order; 

(4) any encumbrance or restriction pursuant to an agreement or instrument of a Person or relating to any Capital Stock or
Indebtedness of a Person, entered into on or before the date on which such Person was acquired by or merged, consolidated or otherwise combined with or into the Company or any Restricted Subsidiary, or was designated as a Restricted Subsidiary or on
which such agreement or instrument is assumed by the Company or any Restricted Subsidiary in connection with an acquisition of assets (other than Capital Stock or Indebtedness Incurred as consideration in, or to provide all or any portion of the
funds utilized to consummate, the transaction or series of related transactions pursuant to which such Person became a Restricted Subsidiary or was acquired by the Company or was merged, consolidated or otherwise combined with or into the Company or
any Restricted Subsidiary or entered into in contemplation of or in connection with such transaction) and outstanding on such date; provided that, for the purposes of this clause (4), if another Person is the Successor Company, any Subsidiary
thereof or agreement or instrument of such Person or any such Subsidiary shall be deemed acquired or assumed by the Company or any Restricted Subsidiary when such Person becomes the Successor Company; 

(5) any encumbrance or restriction: (i) that restricts in a customary manner the subletting, assignment or transfer of any
property or asset that is subject to a lease, license or similar contract or agreement, or the assignment or transfer of any lease, license or other contract or agreement; (ii) contained in mortgages, pledges, charges or other security
agreements permitted under this Indenture or securing Indebtedness of the Company or a Restricted Subsidiary permitted under this Indenture to the extent such encumbrances or restrictions restrict the transfer or encumbrance of the property or
assets subject to such mortgages, pledges, charges or other security agreements; or (iii) pursuant to customary provisions restricting dispositions of real property interests set forth in any reciprocal easement agreements of the Company or any
Restricted Subsidiary; 
 (6) any encumbrance or restriction pursuant to Purchase Money Obligations and Finance Lease
Obligations permitted under this Indenture, in each case, that impose encumbrances or restrictions on the property so acquired; 

(7) any encumbrance or restriction imposed pursuant to an agreement entered into for the direct or indirect sale or disposition
to a Person of all or substantially all the Capital Stock or assets of the Company or any Restricted Subsidiary (or the property or assets that are subject to such restriction) pending the closing of such sale or disposition; 

(8) customary provisions in leases, licenses, shareholder agreements, joint venture agreements and other similar agreements,
organizational documents and instruments; 
 (9) encumbrances or restrictions arising or existing by reason of applicable law
or any applicable rule, regulation or order, or required by any regulatory authority; 
 (10) any encumbrance or restriction
on cash or other deposits or net worth imposed by customers under agreements entered into in the ordinary course of business or consistent with past practice; 

(11) any encumbrance or restriction pursuant to Hedging Obligations; 

  
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 (12) other Indebtedness, Disqualified Stock or Preferred Stock of Foreign
Subsidiaries permitted to be Incurred or issued subsequent to the Issue Date pursuant Section 3.2 that impose restrictions solely on the Foreign Subsidiaries party thereto or their Subsidiaries; 

(13) restrictions created in connection with any Receivables Facility that, in the good faith determination of the Company, are
necessary or advisable to effect such Receivables Facility; 
 (14) any encumbrance or restriction arising pursuant to an
agreement or instrument relating to any Indebtedness, shall only be permitted if such Indebtedness is permitted to be Incurred subsequent to the Issue Date pursuant to Section 3.2 if the encumbrances and restrictions
contained in any such agreement or instrument taken as a whole are not materially less favorable to the Holders than (i) the encumbrances and restrictions contained in the ABL and the Existing Notes Indentures, together with the security
documents associated therewith, or this Indenture as in effect on the Issue Date or (ii) in comparable financings (as determined in good faith by the Company) and where, in the case of clause(ii), either (A) the Company determines at the
time of entry into such agreement or instrument that such encumbrances or restrictions will not adversely affect, in any material respect, the Company’s ability to make principal or interest payments on the Notes or (B) such encumbrance or
restriction applies only during the continuance of a default relating to such agreement or instrument; 
 (15) any
encumbrance or restriction existing by reason of any lien permitted under Section 3.6; or 
 (16)
any encumbrance or restriction pursuant to an agreement or instrument effecting a refinancing of Indebtedness Incurred pursuant to, or that otherwise refinances, an agreement or instrument referred to in clauses (1) to (15) of this
Section 3.4(b) or this clause (16) (an “Initial Agreement”) or contained in any amendment, supplement or other modification to an agreement referred to in clauses (1) to (15) of this
Section 3.4(b) or this clause (16); provided, however, that the encumbrances and restrictions with respect to such Restricted Subsidiary contained in any such agreement or instrument are no less favorable
in any material respect to the Holders taken as a whole than the encumbrances and restrictions contained in the Initial Agreement or Initial Agreements to which such refinancing or amendment, supplement or other modification relates (as determined
in good faith by the Company). 
 SECTION 3.5. Limitation on Sales of Assets and Subsidiary Stock. 

(a) The Company shall not, and shall not permit any of its Restricted Subsidiaries to, make any Asset Disposition unless: 

(1) the Company or such Restricted Subsidiary, as the case may be, receives consideration (including by way of relief from, or
by any other Person assuming responsibility for, any liabilities, contingent or otherwise) at least equal to the fair market value (such fair market value to be determined on the date of contractually agreeing to such Asset Disposition), as
determined in good faith by the Company, of the shares and assets subject to such Asset Disposition (including, for the avoidance of doubt, if such Asset Disposition is a Permitted Asset Swap); 

(2) in any such Asset Disposition, or series of related Asset Dispositions (except to the extent the Asset Disposition is a
Permitted Asset Swap), at least 75.0% of the consideration from such Asset Disposition, together with all other Asset Dispositions since the Issue Date (on a cumulative basis) (including by way of relief from, or by any other Person assuming
responsibility for, any liabilities, contingent or otherwise), received by the Company or such Restricted Subsidiary, as the case may be, is in the form of cash or Cash Equivalents; and 

  
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 (3) an amount equal to 100.0% of the Net Available Cash from such Asset
Disposition is applied: 
 (i) to the extent the Company or any Restricted Subsidiary, as the case may be, elects (or is
required by the terms of any Indebtedness), (A) to prepay, repay or purchase any Indebtedness of a Non-Guarantor (in each case, other than Indebtedness owed to the Company or any Restricted Subsidiary) or any
Secured Indebtedness; including Indebtedness under the Existing Secured Notes or the ABL (or any Refinancing Indebtedness in respect thereof) within 450 days from the later of (a) the date of such Asset Disposition and (b) the receipt
of such Net Available Cash; provided, however, that, in connection with any prepayment, repayment or purchase of Indebtedness pursuant to this clause (A), the Company or such Restricted Subsidiary will retire such Indebtedness
and, other than any such Indebtedness under the ABL (or any Refinancing Indebtedness in respect thereof), will cause the related commitment (if any) to be reduced in an amount equal to the principal amount so prepaid, repaid or purchased; or
(B) to prepay, repay or purchase Pari Passu Indebtedness; provided further that, to the extent the Company redeems, repays or repurchases such Indebtedness pursuant to this clause (B), the Company shall equally and ratably reduce
Obligations under the Notes as provided under Section 5.7, through open-market purchases (to the extent such purchases are at or above 100.0% of the principal amount thereof) or by
making an offer (in accordance with the procedures set forth below for an Asset Disposition Offer) to all Holders to purchase their Notes at 100.0% of the principal amount thereof, plus the amount of accrued but unpaid interest, if any, on the
amount of Notes that would otherwise be prepaid; and 
 (ii) to the extent the Company or any Restricted Subsidiary elects,
to invest in or commit to invest in Additional Assets (including by means of an investment in Additional Assets by a Restricted Subsidiary equal to the amount of Net Available Cash received by the Company or another Restricted Subsidiary) within 450
days from the later of (after giving effect to any Acceptable Commitment or Second Commitment (each as defined below), the “Application Period”) (A) the date of such Asset Disposition and (B) the receipt of such Net
Available Cash; provided, however, that a binding agreement shall be treated as a permitted application of Net Available Cash from the date of such commitment with the good faith expectation that an amount equal to Net Available Cash
will be applied to satisfy such commitment within 180 days of such commitment (an “Acceptable Commitment”) and, in the event of any Acceptable Commitment is later cancelled or terminated for any reason before such amount is applied
in connection therewith, the Company or such Restricted Subsidiary enters into another Acceptable Commitment (a “Second Commitment”) within 180 days of such cancellation or termination; provided further that if any Second
Commitment is later cancelled or terminated for any reason before such amount is applied, then such Net Available Cash shall constitute Excess Proceeds; 

provided that, pending the final application of the amount of any such Net Available Cash in accordance with clause (i) or clause (ii) above,
the Company and its Restricted Subsidiaries may temporarily reduce Indebtedness or otherwise use such Net Available Cash in any manner not prohibited by this Indenture; provided, further, that if at any time during the Application
Period the Consolidated Secured Leverage Ratio is less than or equal to 4.00 to 1.00, the Net Available Cash shall be deemed to have been applied in accordance with this Section 3.5 and the amount of Excess Proceeds shall
be reset at zero. 
 (b) The amount of any Net Available Cash from Asset Dispositions that is not applied or invested or committed to be
applied or invested as provided in the preceding paragraph will be deemed to constitute “Excess Proceeds” under this Indenture. On the 451st day after the later of an Asset Disposition or the receipt of such Net Available Cash, if
the aggregate amount of Excess Proceeds under this Indenture exceeds the greater of $900.0 million and 25.0% of LTM EBITDA, the Company will within 10 Business Days be required to make an offer (“Asset Disposition Offer”)
to all Holders of Notes issued under this Indenture and, to the extent the Company elects, to all holders of other outstanding Pari Passu Indebtedness, to purchase the maximum principal amount of Notes and any such Pari Passu Indebtedness to which
the Asset Disposition Offer applies that may be purchased out of the Excess Proceeds, at an offer price in respect of the Notes in an amount equal to 100.0% of the principal amount of the Notes and such Pari Passu Indebtedness, in each case, plus
accrued and unpaid interest, if any, to, but excluding, the date of purchase, in accordance with the procedures set forth in this Indenture or the agreements governing such Pari 

  
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Passu Indebtedness, as applicable, and, with respect to the Notes, in minimum denominations of $2,000 and in integral multiples of $1,000 in excess thereof. The Company will deliver notice of
such Asset Disposition Offer electronically or by first-class mail, with a copy to the Trustee, the Paying Agent and each Holder of Notes at the address of such Holder appearing in the security register or otherwise in accordance with the applicable
procedures of DTC, describing the transaction or transactions that constitute the Asset Disposition and offering to repurchase the Notes for the specified purchase price on the date specified in the notice, which date will be no earlier than 10 days
and no later than 60 days from the date such notice is delivered, pursuant to the procedures required by this Indenture and described in such notice. The Company may satisfy the foregoing obligations with respect to any Net Available Cash from an
Asset Disposition by making an Asset Disposition Offer with respect to all Net Available Cash prior to the expiration of the relevant 450 days (or such longer period provided above) or with respect to any unapplied Excess Proceeds. 

(c) To the extent that the aggregate amount of Notes and Pari Passu Indebtedness so validly tendered and not properly withdrawn pursuant to an
Asset Disposition Offer is less than the Excess Proceeds, the Company may use any remaining Excess Proceeds for any purpose not prohibited by this Indenture. If the aggregate principal amount of the Notes surrendered in any Asset Disposition Offer
by Holders and other Pari Passu Indebtedness surrendered by holders or lenders, collectively, exceeds the amount of Excess Proceeds, the Company shall allocate the Excess Proceeds among the Notes and such Pari Passu Indebtedness to be purchased on a
pro rata basis on the basis of the aggregate principal amount of tendered Notes and such Pari Passu Indebtedness; provided that no Notes or other such Pari Passu Indebtedness will be selected and purchased in an unauthorized denomination.
Upon completion of any Asset Disposition Offer, the amount of Excess Proceeds shall be reset at zero. Additionally, the Company may, at its option, make an Asset Disposition Offer using proceeds from any Asset Disposition at any time after the
consummation of such Asset Disposition. Upon consummation or expiration of any Asset Disposition Offer, any remaining Net Available Cash shall not be deemed Excess Proceeds and the Company may use such Net Available Cash for any purpose not
prohibited by this Indenture. To the extent that any portion of Net Available Cash payable in respect of the Notes is denominated in a currency other than U.S. dollars, the amount thereof payable in respect of the Notes shall not exceed the net
amount of funds in U.S. dollars that is actually received by the Company upon converting such portion into U.S. dollars. 
 (d)
Notwithstanding any other provisions of this Section 3.5, 
 (i) to the extent that any of or all
the Net Available Cash of any Asset Disposition by a Foreign Subsidiary (a “Foreign Disposition”) is (x) prohibited or delayed by applicable local law, (y) restricted by applicable organizational documents or any agreement
or (z) subject to other onerous organizational or administrative impediments from being repatriated to the United States, the portion of such Net Available Cash so affected will not be required to be applied in compliance with this covenant,
and such amounts may be retained by the applicable Foreign Subsidiary so long, but only so long, as the applicable local law documents or agreements will not permit repatriation to the United States (the Company hereby agreeing to use reasonable
efforts (as determined in the Company’s reasonable business judgment) to otherwise cause the applicable Foreign Subsidiary to within one year following the date on which the respective payment would otherwise have been required, promptly take
all actions reasonably required by the applicable local law, applicable organizational impediments or other impediment to permit such repatriation), and if within one year following the date on which the respective payment would otherwise have been
required such repatriation of any of such affected Net Available Cash is permitted under the applicable local law, applicable organizational impediment or other impediment, such repatriation will be promptly effected and such repatriated Net
Available Cash will be promptly (and in any event not later than five (5) Business Days after such repatriation could be made) applied (net of additional Taxes payable or reserved against as a result thereof) (whether or not such repatriation
actually occurs) in compliance with this Section 3.5; and 
 (ii) to the extent that the Company
has determined in good faith that repatriation of any of or all the Net Available Cash of any Foreign Disposition would have an adverse Tax consequence (which for the avoidance of doubt, includes, but is not limited to, any prepayment whereby doing
so the Company, any Restricted Subsidiary, or any of their respective affiliates and/or equity owners would incur a tax liability, including a tax dividend, deemed dividend pursuant to Code Section 956 or a withholding tax), the Net Available
Cash so affected may be retained by the applicable Foreign Subsidiary. The non-application of any prepayment amounts as a consequence of the foregoing provisions will not, for the avoidance of doubt,
constitute a Default or an Event of Default. 

  
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 (e) For the purposes of Section 3.5(a)(2), the following will be
deemed to be cash: 
 (1) the assumption by the transferee of Indebtedness or other liabilities contingent or otherwise of
the Company or a Restricted Subsidiary (other than Subordinated Indebtedness of the Company or a Guarantor) and the release of the Company or such Restricted Subsidiary from all liability on such Indebtedness or other liability in connection with
such Asset Disposition; 
 (2) securities, notes or other obligations received by the Company or any Restricted Subsidiary of
the Company from the transferee that are converted by the Company or such Restricted Subsidiary into cash or Cash Equivalents, or by their terms are required to be satisfied for cash and Cash Equivalents (to the extent of the cash or Cash
Equivalents received), in each case, within 180 days following the closing of such Asset Disposition; 
 (3) Indebtedness of
any Restricted Subsidiary that is no longer a Restricted Subsidiary as a result of such Asset Disposition, to the extent that the Company and each other Restricted Subsidiary are released from any Guarantee of payment of such Indebtedness in
connection with such Asset Disposition; 
 (4) consideration consisting of Indebtedness of the Company (other than
Subordinated Indebtedness) received after the Issue Date from Persons who are not the Company or any Restricted Subsidiary; and 

(5) any Designated Non-Cash Consideration received by the Company or any Restricted
Subsidiary in such Asset Dispositions having an aggregate fair market value, taken together with all other Designated Non-Cash Consideration received pursuant to this covenant that is at that time outstanding,
not to exceed the greater of $485.0 million and 4.0% of Total Assets (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). 
 (f) To the extent that the provisions of any securities laws, rules or regulations, including Rule
14e-1 under the Exchange Act, conflict with the provisions of this Indenture, the Company will comply with the applicable securities laws, rules and regulations and shall not be deemed to have breached its
obligations described in this Indenture by virtue thereof. 
 (g) The provisions of this Indenture relative to the Company’s obligation
to make an offer to repurchase the Notes as a result of an Asset Disposition may be waived or modified with the written consent of the Holders of a majority in principal amount of the then outstanding Notes. 

(h) The Existing Notes Indentures and the ABL may prohibit or limit, and future credit agreements or other agreements to which the Company
becomes a party may prohibit or limit, the Company from purchasing any Notes pursuant to this covenant. In the event the Company is prohibited from purchasing the Notes, the Company could seek the consent of its lenders to the purchase of the Notes
or could attempt to refinance the borrowings that contain such prohibition. If the Company does not obtain such consent or repay such borrowings, it will remain prohibited from purchasing the Notes. In such case, the Company’s failure to
purchase tendered Notes would constitute an Event of Default under this Indenture. 
 SECTION 3.6. Limitation on Liens. The Company
shall not, and shall not permit any Restricted Subsidiary to, directly or indirectly, create, Incur or suffer to exist any Lien (except Permitted Liens) (each, a “Subject Lien”) that secures Obligations under any Indebtedness on any
asset or property of the Company or any Restricted Subsidiary, unless the Notes and the Guarantees are equally and ratably secured with (or on a senior basis to, in the case such Subject Lien secures any Subordinated Indebtedness) the Obligations
secured by such Subject Lien. 

  
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 Any Lien created for the benefit of the Holders of the Notes pursuant to the preceding
paragraph shall provide by its terms that such Lien shall be automatically and unconditionally released and discharged upon the release and discharge of the Subject Lien that gave rise to the obligation to so secure the Notes and the Guarantees.

 With respect to any Lien securing Indebtedness that was permitted to secure such Indebtedness at the time of the Incurrence of such
Indebtedness, such Lien shall also be permitted to secure any Increased Amount of such Indebtedness. The “Increased Amount” of any Indebtedness shall mean any increase in the amount of such Indebtedness in connection with any
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, accretion of original issue discount or liquidation preference and
increases in the amount of Indebtedness outstanding solely as a result of fluctuations in the exchange rate of currencies or increases in the value of property securing Indebtedness. 

SECTION 3.7. Limitation on Guarantees. 

(a) The Company shall not permit any of its Wholly-Owned Domestic Subsidiaries that are Restricted Subsidiaries (and non-Wholly-Owned Domestic Subsidiaries if such non-Wholly-Owned Domestic Subsidiaries guarantee, or are a co-issuer of, other capital
markets debt securities of the Company or any Restricted Subsidiary or guarantee all or a portion of, or are a co-borrower under, the ABL), other than a Guarantor, to guarantee the payment of any Indebtedness
of the Company or any Guarantor unless: 
 (1) such Restricted Subsidiary within 60 days executes and delivers a supplemental
indenture to this Indenture providing for a Guarantee by such Restricted Subsidiary, except that with respect to a guarantee of Indebtedness of the Company or any Guarantor, if such Indebtedness is by its express terms subordinated in right of
payment to the Notes or such Guarantor’s Note Guarantee, any such guarantee by such Restricted Subsidiary with respect to such Indebtedness shall be subordinated in right of payment to such Guarantee substantially to the same extent as such
Indebtedness is subordinated to the Notes or such Guarantor’s Guarantee of the Notes; and 
 (2) such Restricted
Subsidiary waives and will not in any manner whatsoever claim or take the benefit or advantage of, any rights of reimbursement, indemnity or subrogation or any other rights against the Company or any other Restricted Subsidiary as a result of any
payment by such Restricted Subsidiary under its Guarantee until payment in full of Obligations under this Indenture. 
 provided that this
Section 3.7 shall not be applicable (i) to any guarantee of any Restricted Subsidiary that existed at the time such Person became a Restricted Subsidiary and was not incurred in connection with, or in contemplation of,
such Person becoming a Restricted Subsidiary, or (ii) in the event that the Guarantee of the Company’s obligations under the Notes or this Indenture by such Subsidiary would not be permitted under applicable law. 

(b) The Company may elect, in its sole discretion, to cause any Subsidiary that is not otherwise required to be a Guarantor to become a
Guarantor, in which case, such Subsidiary shall not be required to comply with the 60-day period described in Section 3.7(a). 

(c) If any Guarantor becomes an Immaterial Subsidiary, the Company shall have the right, by execution and delivery of a supplemental indenture
to the Trustee, to cause such Immaterial Subsidiary to cease to be a Guarantor, subject to the requirement described in the first paragraph above that such Subsidiary shall be required to become a Guarantor if it ceases to be an Immaterial
Subsidiary (except that if such Subsidiary has been properly designated as an Unrestricted Subsidiary it shall not be so required to become a Guarantor or execute a supplemental indenture); provided, that such Immaterial Subsidiary shall not
be permitted to Guarantee the ABL or other Indebtedness of the Company or the other Guarantors, unless it again becomes a Guarantor. 

SECTION 3.8. Limitation on Affiliate Transactions. 

(a) The Company shall not, and shall not permit any Restricted Subsidiary to enter into or conduct any transaction (including the purchase,
sale, lease or exchange of any property or the rendering of any service) with any Affiliate of the Company (an “Affiliate Transaction”) involving aggregate value in excess of the greater of $216.0 million and 6.0% of LTM
EBITDA, unless: 

  
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 (1) the terms of such Affiliate Transaction taken as a whole are not
materially less favorable to the Company or such Restricted Subsidiary, as the case may be, than those that could be obtained in a comparable transaction at the time of such transaction or the execution of the agreement providing for such
transaction in arm’s length dealings with a Person who is not such an Affiliate; and 
 (2) in the event such Affiliate
Transaction involves an aggregate value in excess of the greater of $540.0 million and 15.0% of LTM EBITDA, the terms of such transaction have been approved by a majority of the members of the Board of Directors. 

Any Affiliate Transaction shall be deemed to have satisfied the requirements set forth in clause (2) of this Section 3.8(a) if
such Affiliate Transaction is approved by a majority of the Disinterested Directors, if any. 
 (b) The provisions of this
Section 3.8(a) above shall not apply to: 
 (1) any Restricted Payment or other transaction
permitted to be made or undertaken pursuant to Section 3.3 (including Permitted Payments), or any Permitted Investment; 

(2) any issuance or sale of Capital Stock, options, other equity-related interests or
other securities, or other payments, awards or grants in cash, securities or otherwise pursuant to, or the funding of, or entering into, or maintenance of, any employment, consulting, collective bargaining or benefit plan, program, agreement or
arrangement, related trust or other similar agreement and other compensation arrangements, options, warrants or other rights to purchase Capital Stock of the Company, any Restricted Subsidiary or any Parent Entity, restricted stock plans, long-term incentive plans, stock appreciation rights plans, participation plans or similar employee benefits or consultants’ plans (including valuation, health, insurance, deferred compensation, severance,
retirement, savings or similar plans, programs or arrangements) or indemnities provided on behalf of officers, employees, directors or consultants approved by the Board of Directors of the Company; 

(3) any Management Advances and any waiver or transaction with respect thereto; 

(4) (a) any transaction between or among the Company and any Restricted Subsidiary (or entity that becomes a Restricted
Subsidiary as a result of such transaction), or between or among Restricted Subsidiaries and (b) any merger, amalgamation or consolidation with any Parent Entity, provided that such Parent Entity shall have no material liabilities and no
material assets other than cash, Cash Equivalents and the Capital Stock of the Company and such merger, amalgamation or consolidation is otherwise consummated in compliance with this Indenture; 

(5) the payment of compensation, fees, costs and reimbursement of expenses to, and customary indemnities (including under
customary insurance policies) and employee benefit and pension expenses provided on behalf of, directors, officers, consultants or employees (or their respective Controlled Investment Affiliates or Immediate Family Members) of the Company, any
Parent Entity or any Restricted Subsidiary (whether directly or indirectly and including through any Controlled Investment Affiliate or Immediate Family Member of such directors, officers or employees); 

(6) the entry into and performance of obligations of the Company or any of its Restricted Subsidiaries under the terms of any
transaction arising out of, and any payments pursuant to or for purposes of funding, any agreement or instrument in effect as of or on the Issue Date, as these agreements and instruments may be amended, modified, supplemented, extended, renewed or
refinanced from time to time in accordance with the other terms of this covenant or to the extent not more disadvantageous to the Holders in any material respect; 

  
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 (7) sales of accounts receivable, or participations therein, in connection
with any Receivables Facility; 
 (8) transactions with customers, vendors, clients, joint venture partners, suppliers,
contractors, distributors or purchasers or sellers of goods or services, in each case in the ordinary course of business or consistent with past practice, which are fair to the Company or the relevant Restricted Subsidiary in the reasonable
determination of the Board of Directors or the senior management of the Company or the relevant Restricted Subsidiary, or are on terms no less favorable than those that could reasonably have been obtained at such time from an unaffiliated party;

 (9) any transaction between or among the Company or any Restricted Subsidiary and any Person that is an Affiliate of the
Company or an Associate or similar entity solely because the Company or a Restricted Subsidiary or any Affiliate of the Company or a Restricted Subsidiary or any Affiliate of any Permitted Holder owns an equity interest in or otherwise controls such
Affiliate, Associate or similar entity; 
 (10) issuances, transfers or sales of Capital Stock (other than Disqualified Stock
or Designated Preferred Stock) of the Company or options, warrants or other rights to acquire such Capital Stock and the granting of registration and other customary rights (and the performance of the related obligations) in connection therewith or
any contribution to capital of the Company or any Restricted Subsidiary; 
 (11) (i) payments by the Company or any
Restricted Subsidiary to any Permitted Holder (whether directly or indirectly) of annual management, consulting, monitoring, refinancing, subsequent transaction exit fees, advisory fees and related costs and expenses and indemnitees in connection
therewith in an aggregate amount not to exceed the greater of $90.0 million and 2.5% of LTM EBITDA and (ii) customary payments by the Company or any Restricted Subsidiary to any Permitted Holder (whether directly or indirectly, including
through any Parent Entity) for financial advisory, financing, underwriting or placement services or in respect of other investment banking activities, including in connection with acquisitions or divestitures, which payments are approved by a
majority of the Board of Directors in good faith; 
 (12) payment to any Permitted Holder of all out of pocket expenses
Incurred by such Permitted Holder in connection with its direct or indirect investment in the Company and its Subsidiaries; 

(13) the Transactions and the payment of all fees, costs and expenses (including all legal, accounting and other professional
fees, costs and expenses) related to the Transactions, in each case as disclosed in the Offering Circular; 
 (14)
transactions in which the Company or any Restricted Subsidiary, as the case may be, delivers to the Trustee a letter from an Independent Financial Advisor stating that such transaction is fair to the Company or such Restricted Subsidiary from a
financial point of view or meets the requirements of Section 3.8(a)(1); 
 (15) the existence of,
or the performance by the Company or any Restricted Subsidiary of its obligations under the terms of, any equityholders, investor rights or similar agreement (including any registration rights agreement or purchase agreements related thereto) to
which it is party as of the Issue Date and any similar agreement that it may enter into thereafter; provided, however, that the existence of, or the performance by the Company or any Restricted Subsidiary of its obligations under any
future amendment to the equityholders’ agreement or under any similar agreement entered into after the Issue Date will only be permitted under this clause (15) to the extent that the terms of any such amendment or new agreement are not
otherwise disadvantageous to the Holders in any material respect; 
 (16) any purchase by the Company’s Affiliates of
Indebtedness or Disqualified Stock of the Company or any of their Restricted Subsidiaries the majority of which Indebtedness or Disqualified Stock is purchased by Persons who are not the Company’s Affiliates; provided that such purchases
by the Company’s Affiliates are on the same terms as such purchases by such Persons who are not the Company’s Affiliates; 

  
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 (17) (i) investments by Affiliates in securities or loans of the
Company or any of its Restricted Subsidiaries (and payment of reasonable out-of-pocket expenses incurred by such Affiliates in connection therewith) so long as the
investment is being offered by the Company or such Restricted Subsidiary generally to other non-affiliated third party investors on the same or more favorable terms and (ii) payments to Affiliates in
respect of securities or loans of the Company or any of its Restricted Subsidiaries contemplated in the foregoing subclause (i) or that were acquired from Persons other than the Company and its Restricted Subsidiaries, in each case, in
accordance with the terms of such securities or loans; 
 (18) payments by the Company (and any Parent Entity) and its
Restricted Subsidiaries pursuant to any tax sharing agreements or other equity agreements in respect of “Related Taxes” among the Company (and any such Parent Entity) and its Restricted Subsidiaries on customary terms to the extent
attributable to the ownership or operation of the Company and its Subsidiaries; 
 (19) payments, Indebtedness and
Disqualified Stock (and cancellation of any thereof) of the Company and its Restricted Subsidiaries and Preferred Stock (and cancellation of any thereof) of any Restricted Subsidiary to any future, current or former employee, director, officer,
manager or consultant (or their respective Controlled Investment Affiliates or Immediate Family Members) of the Company, any of its Subsidiaries or any of its direct or indirect parent companies pursuant to any management equity plan or stock option
plan or any other management or employee benefit plan or agreement or any stock subscription or shareholder agreement; and any employment agreements, stock option plans and other compensatory arrangements (and any successor plans thereto) and any
supplemental executive retirement benefit plans or arrangements with any such employees, directors, officers, managers or consultants (or their respective Controlled Investment Affiliates or Immediate Family Members) that are, in each case, approved
by the board of directors of the Company in good faith; 
 (20) employment and severance arrangements between the Company or
its Restricted Subsidiaries and their respective offers and employees; 
 (21) any transition services arrangement, supply
arrangement or similar arrangement entered into in connection with or in contemplation of the disposition of assets or Capital Stock in any Restricted Subsidiary permitted under Section 3.5 or entered into with any Business
Successor, in each case, that the Company determines in good faith is either fair to the Company or otherwise on customary terms for such type of arrangements in connection with similar transactions; 

(22) transactions entered into by an Unrestricted Subsidiary with an Affiliate prior to the day such Unrestricted Subsidiary is
redesignated as a Restricted Subsidiary as described under Section 3.20; and 
 (23) any Permitted
Tax Restructuring. 
 SECTION 3.9. Change of Control. 

(a) If a Change of Control Triggering Event occurs, unless the Company has previously or substantially concurrently therewith delivered a
redemption notice with respect to all of the outstanding Notes as set forth under Section 5.7(a) or Section 5.7(d), the Company shall make an offer to purchase all of the Notes pursuant to the
offer (the “Change of Control Offer”) at a price in cash (the “Change of Control Payment”) equal to 101.0% of the aggregate principal amount thereof plus accrued and unpaid interest, if any, to but excluding the
date of repurchase, subject to the right of Holders of the Notes of record on the relevant record date to receive interest due on the relevant interest payment date. Within 30 days following any Change of Control Triggering Event, the Company
will deliver or cause to be delivered notice of such Change of Control Offer electronically in accordance with the procedures of DTC or by first-class mail, with a copy to the Trustee, to each Holder of Notes at the address of such Holder appearing
in the security register, with the following information: 
 (1) that a Change of Control Offer is being made pursuant to
this Section 3.9, and that all Notes properly tendered pursuant to such Change of Control Offer will be accepted for payment by the Company; 

  
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 (2) the purchase price and the purchase date, which will be no earlier than
30 days nor later than 60 days from the date such notice is delivered (the “Change of Control Payment Date”); 

(3) that any Note not properly tendered will remain outstanding and continue to accrue interest; 

(4) that unless the Company defaults in the payment of the Change of Control Payment, all Notes accepted for payment pursuant
to the Change of Control Offer will cease to accrue interest, on the Change of Control Payment Date; 
 (5) that Holders
electing to have any Notes purchased pursuant to a Change of Control Offer will be required to surrender such Notes, with the form entitled “Option of Holder to Elect Purchase” on the reverse of such Notes completed, to the Paying Agent
specified in the notice at the address specified in the notice prior to the close of business on the third Business Day preceding the Change of Control Payment Date; 

(6) that Holders will be entitled to withdraw their tendered Notes and their election to require the Company to purchase such
Notes; provided that the Paying Agent receives, not later than the close of business on the second Business Day prior to the expiration date of the Change of Control Offer, a telegram, facsimile transmission or letter setting forth the name
of the Holder of the Notes, the principal amount of Notes tendered for purchase, and a statement that such Holder is withdrawing its tendered Notes and its election to have such Notes purchased; 

(7) that Holders whose Notes are being purchased only in part will be issued new Notes and such new Notes will be equal in
principal amount to the unpurchased portion of the Notes surrendered. The unpurchased portion of the Notes must be equal to at least $2,000 or any integral multiple of $1,000 in excess of $2,000; 

(8) if such notice is delivered prior to the occurrence of a Change of Control Triggering Event, stating that the Change of
Control Offer is conditional on the occurrence of such Change of Control Triggering Event; and 
 (9) the other instructions,
as determined by the Company, consistent with this Section 3.9, that a Holder must follow. 
 The Paying Agent
will promptly deliver to each Holder of the Notes tendered the Change of Control Payment for such Notes, and the Trustee will promptly authenticate and mail (or cause to be transferred by book-entry) to each
Holder a new Note equal in principal amount to any unpurchased portion of the Notes surrendered, if any; provided that each such new Note will be in a minimum principal amount of $2,000 or an integral multiple of $1,000 in excess thereof. The
Company will publicly announce the results of the Change of Control Offer on or as soon as practicable after the Change of Control Payment Date. 

If the Change of Control Payment Date is on or after an interest record date and on or before the related interest payment date, any accrued
and unpaid interest will be paid on the relevant interest payment date to the Person in whose name a Note is registered at the close of business on such record date. 

(b) On the Change of Control Payment Date, the Company will, to the extent permitted by law, 

(1) accept for payment all Notes issued by it or portions thereof properly tendered pursuant to the Change of Control Offer,

 (2) deposit with the Paying Agent an amount equal to the aggregate Change of Control Payment in respect of all Notes or
portions thereof so tendered, and 

  
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 (3) deliver, or cause to be delivered, to the Trustee for cancellation the
Notes so accepted together with an Officer’s Certificate to the Trustee stating that such Notes or portions thereof have been tendered to and purchased by the Company. 

(c) The Company will not be required to make a Change of Control Offer following a Change of Control Triggering Event if (x) a third party
makes the Change of Control Offer in the manner, at the times and otherwise in compliance with the requirements set forth in this Indenture applicable to a Change of Control Offer made by the Company and purchases all Notes validly tendered and not
withdrawn under such Change of Control Offer or (y) a notice of redemption of all outstanding Notes has been given pursuant to Section 5.7 unless and until there is a default in the payment of the redemption price on
the applicable Redemption Date or the redemption is not consummated due to the failure of a condition precedent contained in the applicable redemption notice to be satisfied. 

(d) Notwithstanding anything to the contrary in this Section 3.9, a Change of Control Offer may be made in advance of
a Change of Control Triggering Event, conditional upon such Change of Control Triggering Event. 
 (e) The provisions of this Indenture
relative to the Company’s obligation to make an offer to repurchase the Notes as a result of a Change of Control Triggering Event may, to the extent permitted by Article IX, be waived or modified with the written consent of the Holders
of a majority in principal amount of the then outstanding Notes. 
 (f) While the Notes are in global form and the Company makes an offer to
purchase all of the Notes pursuant to the Change of Control Offer, a Holder may exercise its option to elect for the purchase of the Notes through the facilities of DTC, subject to its rules and regulations. 

(g) The Company will comply, to the extent applicable, with the requirements of Rule 14e-1 under
the Exchange Act and any other securities laws, rules and regulations thereunder to the extent such laws or regulations are applicable in connection with the repurchase of the Notes pursuant to a Change of Control Offer. To the extent that the
provisions of any securities laws, rules or regulations conflict with the provisions of this Indenture, the Company will comply with the applicable securities laws and regulations and shall not be deemed to have breached its obligations described in
this Indenture by virtue thereof. 
 (h) A sale, lease or other disposition by the Company of any part of its assets shall not be deemed to
constitute the sale, lease or other disposition of substantially all of its assets for purposes of this Indenture if the fair market value of the assets retained by the Company exceeds 100% of the aggregate principal amount of all outstanding Notes
and any other outstanding Indebtedness of the Company that ranks equally with, or senior to, the Notes with respect to such assets. This clause (h) is not intended to limit the Company’s sales, leases or other dispositions of less than
substantially all of its assets. 
 SECTION 3.10. Reports. 

(a) Notwithstanding that the Company may not be subject to the reporting requirements of Section 13 or 15(d) of the Exchange Act or
otherwise report on an annual and quarterly basis on forms provided for such annual and quarterly reporting pursuant to rules and regulations promulgated by the SEC, from and after the Issue Date, the Company shall furnish to the Trustee: 

(1) within 100 days after the end of each fiscal year (or if such day is not a Business Day, on the next succeeding
Business Day), all financial information that would be required to be contained in an annual report on Form 10-K, or any successor or comparable form, filed with the SEC, including a “Management’s
Discussion and Analysis of Financial Condition and Results of Operations” and a report on the annual financial statements by the Company’s independent registered public accounting firm; 

(2) within 55 days after the end of each of the first three fiscal quarters of each fiscal year (or if such day is not a
Business Day, on the next succeeding Business Day), all financial information that would be required to be contained in a quarterly report on Form 10-Q, or any successor or comparable form, filed with the SEC,
including (A) “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” and (B) financial statements prepared in accordance with GAAP; and 

  
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 (3) within 15 days after the occurrence of any of the following events, all
current reports that would be required to be filed with the SEC on Form 8-K or any successor or comparable form (if the Company had been a reporting company under Section 15(d) of the Exchange Act);
provided, that the foregoing shall not obligate the Company to make available (i) any information otherwise required to be included on a Form 8-K regarding the occurrence of any such events if the
Company determines in its good faith judgment that such event that would otherwise be required to be disclosed is not material to the Holders of the Notes or the business, assets, operations, financial positions or prospects of the Company and its
Restricted Subsidiaries taken as a whole, (ii) a summary of the terms of, any employment or compensatory arrangement, agreement, plan or understanding between the Company (or any of its Subsidiaries) and any director, manager or executive
officer of the Company (or any of its Subsidiaries) or (iii) copies of any agreements, financial statements or other items that would be required to be filed as exhibits to a current report on Form 8-K
(except for (x) material Indebtedness and (y) historical and pro forma financial statements to the extent reasonably available): 

(A) the entry into or termination of material agreements; 

(B) significant acquisitions or dispositions (provided that the requirement to provide a current report with respect to
any significant acquisition or disposition shall be triggered only upon completion of such acquisition or disposition); 

(C) bankruptcy; 

(D) cross-default under direct material financial obligations; 

(E) a change in the Company’s certifying independent auditor; 

(F) the appointment or departure of directors or executive officers; 

(G) non-reliance on previously issued financial statements; and 

(H) change of control transactions, 

in each case, in a manner that complies in all material respects with the requirements specified in such form, except as described above or below and subject
to exceptions consistent with the presentation of information in the Offering Circular; provided, however, that the Company shall not be required to (i) comply with Regulation G under the Exchange Act or Item 10(e) of Regulation S-K with respect to any “non-GAAP” financial information contained therein, (ii) provide any information that is not otherwise similar to information currently
included in the Offering Circular or (iii) provide separate financial statements or other information contemplated by Rule 3-09, Rule 3-10 or Rule 3-16 of Regulation S-X, or in each case any successor provisions or any schedules required by Regulation S-X. In addition,
notwithstanding the foregoing, the Company will not be required to (i) comply with Sections 302, 906 and 404 of the Sarbanes-Oxley Act of 2002, as amended, or (ii) otherwise furnish any information, certificates or reports required by
Items 307 or 308 of Regulation S-K. To the extent any such information is not so filed or furnished, as applicable, within the time periods specified above and such information is subsequently filed or
furnished, as applicable, the Company will be deemed to have satisfied its obligations with respect thereto at such time and any Default with respect thereto shall be deemed to have been cured; provided that such cure shall not otherwise
affect the rights of the Holders under Section 6.1 if Holders of at least 30.0% in principal amount of the then total outstanding Notes have declared the principal, premium, if any, interest and any other monetary
obligations on all the then outstanding Notes to be due and payable immediately and such declaration shall not have been rescinded or cancelled prior to such cure. In addition, to the extent not satisfied by the foregoing, the Company shall agree
that, for so long as any Notes are outstanding, it shall furnish to Holders and to securities analysts and prospective investors, upon their request, the information required to be delivered pursuant to Rule 144A(d)(4) under the Securities Act. 

  
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 (b) If the Company has designated any of its Subsidiaries as Unrestricted Subsidiaries and
such Unrestricted Subsidiaries hold in the aggregate more than 10.0% of the Total Assets of the Company, then the annual and quarterly financial information required by Section 3.10(a)(1) and (2) will include a
reasonably detailed presentation, either on the face of the financial statements or in the footnotes thereto, and in “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” of the financial condition
and results of operations of the Company and its Restricted Subsidiaries separate from the financial condition and results of operations of the Unrestricted Subsidiaries of the Company. 

(c) Substantially concurrently with the furnishing or making such information available to the Trustee pursuant to the immediately preceding
paragraph, the Company shall also use its commercially reasonable efforts to post copies of such information required by the immediately preceding paragraph on a website (which may be nonpublic, require a confidentiality acknowledgement and may be
maintained by the Company or a third party) to which access will be given to the Holders, bona fide prospective investors in the Notes (which prospective investors shall be limited to QIBs or non-U.S. persons
(as defined in Regulation S under the Securities Act) that certify their status as such to the reasonable satisfaction of the Company), securities analysts (to the extent providing analysis of an investment in the Notes) and market making financial
institutions that are, in the case of securities analysts and market making financial institutions, reasonably satisfactory to the Company and that, in each case, agree to treat such information and reports as confidential; provided that the
Company may deny access to any competitively sensitive information and reports otherwise to be provided pursuant to this paragraph to any Holder, bona fide prospective investor, securities analyst or market making financial institution that is a
competitor of the Company and its Subsidiaries to the extent that the Company determines in good faith that the provision of such information and reports to such Person would be competitively harmful to the Company and its Subsidiaries. The Company
may condition the delivery of any such reports to such Holders, prospective investors in the Notes, and securities analysts and market making financial institutions on the agreement of such Persons to (i) treat all such reports (and the
information contained therein) and information as confidential, (ii) not use such reports and the information contained therein for any purpose other than their investment or potential investment in the Notes and (iii) not publicly
disclose any such reports (and the information contained therein) and information. 
 (d) The Company will also hold quarterly conference
calls for the Holders of Notes, prospective investors in the Notes and securities analysts and market making financial institutions, to discuss financial information for the previous quarter (it being understood that such quarterly conference call
may be the same conference call as with the Company’s (or as applicable, any of any Parent Entity’s) equity investors and analysts). The conference call will be following the last day of each fiscal quarter of the Company and not later
than 10 Business Days from the time that the Company distributes the financial information as set forth in the third preceding paragraph. No fewer than two days prior to the conference call, the Company will issue a press release or otherwise
announce the time and date of such conference call and providing instructions for Holders, securities analysts, prospective investors and market making financial institutions to obtain access to such call. 

(e) The Company may satisfy its obligations pursuant to this Section 3.10 with respect to financial information
relating to the Company by furnishing financial information relating to a Parent Entity; provided that the same is accompanied by consolidating information that explains in reasonable detail the differences between the information relating to
a Parent Entity (and other direct or indirect Parent Entities included in such information, if any), on the one hand, and the information relating to the Company and its Restricted Subsidiaries on a standalone basis, on the other hand. For the
avoidance of doubt, the consolidating information referred to in the proviso in the preceding sentence need not be audited. 
 (f)
Notwithstanding anything to the contrary set forth in this Section 3.10, if the Company or any Parent Entity of the Company has furnished to the Holders of Notes or filed with the SEC the reports described in the preceding
paragraphs with respect to the Company or any Parent Entity, the Company shall be deemed to be in compliance with the provisions of this Section 3.10. 

(g) The Trustee shall have no duty to review or analyze any reports furnished or made available to it and the Trustee’s receipt of such
reports shall not constitute actual or constructive knowledge of the information contained therein or determinable therefrom, including the Company’s compliance with any of its covenants (as to which the Trustee is entitled to conclusively rely
on an Officer’s Certificate). 

  
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 SECTION 3.11. [Reserved]. 

SECTION 3.12. Maintenance of Office or Agency. 

The Company will maintain an office or agency where the Notes may be presented or surrendered for payment, where, if applicable, the Notes may
be surrendered for registration of transfer or exchange. The corporate trust office of the Trustee, which initially shall be located at Wilmington Trust, National Association, 1100 North Market Street, Wilmington, Delaware 19890, Attention: Builders
FirstSource, Inc. Administrator, shall be such office or agency of the Company, unless the Company shall designate and maintain some other office or agency for one or more of such purposes. The Company will give prompt written notice to the Trustee
of any change in the location of any such office or agency. If at any time the Company shall fail to maintain any such required office or agency or shall fail to furnish the Trustee with the address thereof, such presentations and surrenders may be
made or served at the corporate trust office of the Trustee, and the Company hereby appoints the Trustee as its agent to receive all such presentations and surrenders. 

The Company 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 any such designation. The Company will give prompt written notice to the Trustee of any such designation or rescission and any change in the location of any such other office or agency. The
office of the Trustee shall not be an office or agency of the Company for the purposes of service of legal process on the Company or any Guarantor. 

SECTION 3.13. Corporate Existence. Except as otherwise provided in this Article III,
Article IV and Section 10.2(b), the Company will do or cause to be done all things necessary to preserve and keep in full force and effect its existence, corporate or otherwise, and the corporate,
partnership, limited liability company or other existence of each Restricted Subsidiary and the rights (charter and statutory), licenses and franchises of the Company and each Restricted Subsidiary; provided, however, that the Company
shall not be required to preserve any such right, license or franchise or the corporate, partnership, limited liability company or other existence of any Restricted Subsidiary if the respective Board of Directors or, with respect to a Restricted
Subsidiary that is not a Significant Subsidiary (or group of Restricted Subsidiaries that taken together would not be a Significant Subsidiary), senior management of the Company determines that the preservation thereof is no longer desirable in the
conduct of the business of the Company and each of its Restricted Subsidiaries, taken as a whole, and that the loss thereof is not, and will not be, disadvantageous in any material respect to the Holders. 

SECTION 3.14. Payment of Taxes. The Company shall pay or discharge or cause to be paid or discharged, before the same shall become
delinquent, all material taxes, assessments and governmental charges levied or imposed upon the Company or any Subsidiary; provided, however, that the Company shall not be required to pay or discharge or cause to be paid or discharged
any such tax, assessment, charge or claim the amount, applicability or validity of which is being contested in good faith by appropriate proceedings and for which appropriate reserves, if necessary (in the good faith judgment of management of the
Company), are being maintained in accordance with GAAP or where the failure to effect such payment will not be disadvantageous to the Holders.  

SECTION 3.15. [Reserved]. 

SECTION 3.16. Compliance Certificate. The Company shall deliver to the Trustee within 120 days after the end of each fiscal year
of the Company an Officer’s Certificate, one of the signers of which shall be the principal executive officer, principal financial officer or principal accounting officer of the Company, stating that in the course of the performance by the
signer of his or her duties as an Officer of the Company he or she would normally have knowledge of any Default or Event of Default and whether or not the signer knows of any Default or Event of Default that occurred during the previous fiscal year;
provided that no such Officer’s Certificate shall be required for any fiscal year ended prior to the Issue Date. If such Officer does have such knowledge, the certificate shall describe the Default or Event of Default, its status and the
action the Company is taking or proposes to take with respect thereto. 
 SECTION 3.17. [Reserved]. 

SECTION 3.18. [Reserved]. 

  
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 SECTION 3.19. Statement by Officers as to Default. The Company shall deliver to the
Trustee, as soon as possible and in any event within 30 days after the Company becomes aware of the occurrence of any Default or Event of Default, an Officer’s Certificate setting forth the details of such Event of Default or Default, its
status and the actions which the Company is taking or proposes to take with respect thereto. 
 SECTION 3.20. Designation of Restricted
and Unrestricted Subsidiaries. The Company may designate any Restricted Subsidiary to be an Unrestricted Subsidiary if that designation would not cause a Default. If a Restricted Subsidiary is designated as an Unrestricted Subsidiary, the
aggregate fair market value of all outstanding Investments owned by the Company and its Restricted Subsidiaries in the Subsidiary designated as an Unrestricted Subsidiary will be deemed to be an Investment made as of the time of the designation and
will reduce the amount available for Restricted Payments as described in Section 3.3 herein or under one or more clauses of the definition of Permitted Investments, as determined by the Company. That designation will only
be permitted if the Investment would be permitted at that time and if the Restricted Subsidiary otherwise meets the definition of an Unrestricted Subsidiary. The Company may redesignate any Unrestricted Subsidiary to be a Restricted Subsidiary if
that redesignation would not cause a Default. 
 Any designation of a Subsidiary of the Company as an Unrestricted Subsidiary will be
evidenced to the Trustee by an Officer’s Certificate certifying that such designation complies with the preceding conditions and was not prohibited by Section 3.3 herein. If, at any time, any Unrestricted Subsidiary
would fail to meet the preceding requirements as an Unrestricted Subsidiary, it will thereafter cease to be an Unrestricted Subsidiary for purposes of this Indenture and any Indebtedness of such Subsidiary will be deemed to be incurred by a
Restricted Subsidiary of the Company as of such date and, if such Indebtedness is not permitted to be incurred as of such date by Section 3.2 herein, the Company will be in default of such covenant. 

The Company may at any time designate any Unrestricted Subsidiary to be a Restricted Subsidiary of the Company; provided that such
designation will be deemed to be an Incurrence of Indebtedness by a Restricted Subsidiary of the Company of any outstanding Indebtedness of such Unrestricted Subsidiary, and such designation will only be permitted if (1) such Indebtedness is
permitted under Section 3.2 herein (including pursuant to clause 5(ii) thereof treating such redesignation as an acquisition for the purpose of such clause), calculated on a pro forma basis as if such designation had
occurred at the beginning of the applicable reference period; and (2) no Default or Event of Default would be in existence following such designation. Any such designation by the Company shall be evidenced to the Trustee by an Officer’s
Certificate certifying that such designation complies with the preceding conditions. 
 SECTION 3.21. Suspension of Certain
Covenants on Achievement of Investment Grade Status. Following the first day the Notes have achieved Investment Grade Status and no Default or Event of Default has occurred and is continuing under this Indenture, the beginning on that day
and ending on a Reversion Date (such period a “Suspension Period”), the Company and its Restricted Subsidiaries will not be subject to Sections 3.2, 3.3, 3.4, 3.5, 3.7,
3.8 and 4.1(a)(3). 
 On the Reversion Date, all Indebtedness Incurred during the Suspension Period will be deemed to have
been outstanding on the Issue Date, so that it is classified as permitted under Section 3.2(b)(4)(ii). On and after the Reversion Date, all Liens created during the Suspension Period will be considered Permitted Liens.
Restricted Payments made during the Suspension Period will not reduce the amount available to be made as Restricted Payments under Section 3.3(a). On the Reversion Date, the amount of Excess Proceeds shall be reset at zero.
Any Affiliate Transaction entered into after the Reversion Date pursuant to an agreement entered into during any Suspension Period will be deemed to have been outstanding on the Issue Date, so that it is classified as permitted under
Section 3.8(b)(6). Any encumbrance or restriction on the ability of any Restricted Subsidiary to take any action described in Section 3.4(a)(1) through (3) that becomes effective during
the Suspension Period will be deemed to have existed on the Issue Date, so that it is classified as permitted under Section 3.4(b)(1). In addition, any future obligation to grant further Guarantees shall be released. All
such further obligations to grant Guarantees shall be reinstated on the Reversion Date. As described above, however, no Default, Event of Default or breach of any kind shall be deemed to have occurred as a result of the Reversion Date occurring on
the basis of any actions taken or the continuance of any circumstances resulting from actions taken or the performance of obligations under agreements entered into by the Company or any of the Restricted Subsidiaries during the Suspension Period
(other than agreements to take actions after the Reversion Date that would not be permitted outside of the Suspension Period entered into in contemplation of the Reversion Date). 

  
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 The Company, in an Officer’s Certificate, shall provide the Trustee notice of any
Covenant Suspension or Reversion Date. The Trustee will have no obligation to (i) independently determine or verify if such events have occurred or (ii) make any determination regarding the impact of actions taken during the Suspension
Period on the Company’s future compliance with its covenants. In addition, the Trustee shall have no duty to monitor the ratings of the Notes, shall not be deemed to have any knowledge of the ratings of the Notes and shall have no duty to
notify Holders if the Notes achieve Investment Grade Status or of the occurrence of a Reversion Date. 
 ARTICLE IV 

SUCCESSOR COMPANY; SUCCESSOR PERSON 

SECTION 4.1. Merger, Amalgamation and Consolidation. 

(a) The Company will not consolidate with or merge or amalgamate with or into or convey, transfer or lease all or substantially all its assets,
in one transaction or a series of related transactions to any Person, unless: 
 (1) the Company is the surviving Person or
the resulting, surviving or transferee Person (the “Successor Company”) will be a Person organized and existing under the laws of the United States of America, any State of the United States or the District of Columbia and the
Successor Company (if not the Company) will expressly assume, by supplemental indenture, executed and delivered to the Trustee, all the obligations of the Company under the Notes and this Indenture and if such Successor Company is not a corporation,
a co-obligor of the Notes is a corporation organized or existing under such laws; 

(2) immediately after giving effect to such transaction (and treating any Indebtedness that becomes an obligation of the
applicable Successor Company or any Subsidiary of the applicable Successor Company as a result of such transaction as having been Incurred by the applicable Successor Company or such Subsidiary at the time of such transaction), no Event of Default
under Section 6.1(a)(1), (2) or (7) shall have occurred and be continuing; 

(3) upon execution of an agreement to enter into such transaction, no Event of Default shall have occurred and be continuing,
and, immediately after giving pro forma effect to such transaction, either (a) the applicable Successor Company would be able to Incur at least an additional $1.00 of Indebtedness pursuant to Section 3.2(a) or
(b) the Fixed Charge Coverage Ratio of the Company and the Restricted Subsidiaries would not be lower than it was immediately prior to giving effect to such transaction; and 

(4) the Company shall have delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that
such consolidation, merger, amalgamation or transfer and such supplemental indenture (if any) comply with this Indenture and an Opinion of Counsel stating that such supplemental indenture (if any) has been duly authorized, executed and delivered and
is a legal, valid and binding agreement enforceable against the Successor Company; provided that in giving an Opinion of Counsel, counsel may rely on an Officer’s Certificate as to any matters of fact, including as to satisfaction of
clauses (2) and (3) above. 
 (b) [Reserved]. 

(c) The Successor Company will succeed to, and be substituted for, and may exercise every right and power of, the Company under the Notes and
this Indenture. 
 (d) Notwithstanding the preceding clauses (a)(2), (a)(3) and (a)(4) (which do not apply to transactions referred to
in this sentence), (i) any Restricted Subsidiary of the Company may consolidate or otherwise combine with, merge or amalgamate into or transfer all or part of its properties and assets to the Company, (ii) any Restricted Subsidiary may
consolidate or otherwise combine with, merge or amalgamate into or transfer all or part of its properties and assets to any other Restricted Subsidiary and (iii) the Company and any Restricted Subsidiary may complete any Permitted Tax
Restructuring. Notwithstanding the preceding clauses (a)(2) and (a)(3) (which do not apply to the transactions referred to in this sentence), the Company may consolidate or otherwise combine with or merge or amalgamate into an Affiliate
incorporated or organized for the purpose of changing the legal domicile of the Company, reincorporating the Company in another jurisdiction, or changing the legal form of the Company. 

  
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 (e) The foregoing provisions (other than the requirements of clause (a)(2)) shall not
apply to the creation of a new Subsidiary as a Restricted Subsidiary of the Company. 
 (f) No Guarantor may: 

(1) consolidate with or merge or amalgamate with or into any Person; or 

(2) sell, convey, transfer or dispose of, all or substantially all its assets, in one transaction or a series of related
transactions, to, any Person; or 
 (3) permit any Person to merge or amalgamate with or into such Guarantor, unless 

(i) the other Person is the Company or any Restricted Subsidiary that is a Guarantor or becomes a Guarantor concurrently with
the transaction; or 
 (ii) (A) either (x) the Company or a Guarantor is the continuing Person or (y) the
resulting, surviving or transferee Person expressly assumes all of the obligations of the Guarantor under its Note Guarantee and this Indenture; and 

(B) immediately after giving effect to the transaction, no Default has occurred and is continuing; or 

(iii) the transaction constitutes a sale or other disposition or transfer (including by way of consolidation, merger or
amalgamation) of the Guarantor or the conveyance, transfer, lease, sale or disposition of all or substantially all the assets of the Guarantor (in each case other than to the Company or a Restricted Subsidiary) otherwise not prohibited by this
Indenture. 
 ARTICLE V 

REDEMPTION OF SECURITIES 

SECTION 5.1. Notices to Trustee. If the Company elects to redeem Notes pursuant to the optional redemption provisions of
Section 5.7, it must furnish to the Trustee, at least 10 days but not more than 60 days before a Redemption Date, an Officer’s Certificate setting forth: 

(1) the clause of this Indenture pursuant to which the redemption shall occur; 

(2) the Redemption Date; 

(3) the principal amount of Notes to be redeemed; and 

(4) the redemption price. 

Any optional redemption referenced in such Officer’s Certificate may be cancelled by the Company at any time prior to notice of
redemption being sent to any Holder and thereafter shall be null and void. 
 SECTION 5.2. Selection of Notes to Be Redeemed or
Purchased. If less than all of the Notes are to be redeemed pursuant to Section 5.7 or purchased in an Asset Disposition Offer pursuant to Section 3.5 or a redemption pursuant to
Section 5.6, the Trustee will select Notes for redemption or purchase (a) if the Notes are in global form, on a pro rata basis or such similar method in accordance with the applicable procedures of DTC and (b) if
the Notes are in definitive form, on a pro rata basis (subject to adjustments to maintain the authorized Notes denomination requirements) except: 

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

  
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 (2) if otherwise required by law. 

No Notes in an unauthorized denomination or of $2,000 in aggregate principal amount or less shall be redeemed in part. In the event of partial
redemption, the particular Notes to be redeemed or purchased will be selected, unless otherwise provided herein, not less than 10 days nor more than 60 days prior to the redemption or purchase date by the Trustee from the outstanding Notes
not previously called for redemption or purchase; provided that the Company shall provide the Trustee with sufficient notice of such partial redemption to enable the Trustee to select the Notes for partial redemption. 

The Trustee will promptly notify the Company in writing of the Notes selected for redemption or purchase and, in the case of any Note selected
for partial redemption or purchase, the principal amount thereof to be redeemed or purchased. Notes and portions of Notes selected will be in amounts of $2,000 or whole multiples of $1,000; except that if all of the Notes of a Holder are to be
redeemed or purchased, the entire outstanding amount of Notes held by such Holder, even if not a multiple of $1,000, shall be redeemed or purchased. Except as provided in the preceding sentence, provisions of this Indenture that apply to Notes
called for redemption or purchase also apply to portions of Notes called for redemption or purchase. 
 SECTION 5.3. Notice of
Redemption. At least 10 days but not more than 60 days before a Redemption Date, the Company will send or cause to be sent, by electronic delivery or by first class mail postage prepaid, a notice of redemption to each Holder (with a copy to
the Trustee) whose Notes are to be redeemed at the address of such Holder appearing in the security register or otherwise in accordance with the procedures of DTC, except that redemption notices may be sent more than 60 days prior to a
Redemption Date if the notice is issued in connection with a defeasance of the Notes or a satisfaction and discharge of this Indenture pursuant to Articles VIII or XI. 

The notice will identify the Notes (including the CUSIP or ISIN number) to be redeemed and will state: 

(1) the Redemption Date; 

(2) the redemption price; 

(3) 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 upon surrender of such Note, a new Note or Notes in principal amount equal to the unredeemed portion will be issued upon cancellation of the original Note; 

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

(5) that Notes called for redemption must be surrendered to the Paying Agent to collect the redemption price; 

(6) that, unless the Company defaults in making such redemption payment, interest on Notes called for redemption ceases to
accrue on and after the Redemption Date; 
 (7) the paragraph of the Notes and/or Section of this Indenture pursuant to which
the Notes called for redemption are being redeemed; and 
 (8) that no representation is made as to the correctness or
accuracy of the CUSIP number, if any, listed in such notice or printed on the Notes. 

  
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 At the Company’s request, the Trustee will give the notice of redemption in the
Company’s name and at its expense; provided, however, that the Company has delivered to the Trustee, at least 30 days prior to the Redemption Date (or such shorter period as the Trustee may agree), an Officer’s
Certificate requesting that the Trustee give such notice and setting forth the information to be stated in such notice as provided in the preceding paragraph. 

Notice of any redemption of the Notes may, at the Company’s discretion, be given prior to the completion of a corporate transaction
(including but not limited to an Equity Offering, an Incurrence of Indebtedness, a Change of Control or other corporate transaction) and any redemption notice may, at the Company’s discretion, be subject to one or more conditions precedent,
including, but not limited to, completion of a related transaction. If such redemption or purchase is so subject to satisfaction of one or more conditions precedent such notice shall describe each such condition, and if applicable, shall state that,
in the Company’s discretion, the Redemption Date may be delayed until such time (including more than 60 days after the date the notice of redemption was mailed or delivered, including by electronic transmission) as any or all such conditions
shall be satisfied, or such redemption or purchase may not occur and such notice may be rescinded in the event that any or all such conditions shall not have been satisfied by the Redemption Date, or by the Redemption Date as so delayed. In
addition, the Company may provide in such notice that payment of the redemption price and performance of the Company’s obligations with respect to such redemption may be performed by another Person. 

SECTION 5.4. [Reserved] 

SECTION 5.5. Deposit of Redemption or Purchase Price. Prior to 12:00 p.m. (Eastern Time) on the redemption or purchase date, the
Company will deposit with the Trustee or with the Paying Agent money sufficient to pay the redemption or purchase price of and accrued interest on, all Notes to be redeemed or purchased on that date. The Trustee or the Paying Agent will promptly
return to the Company any money deposited with the Trustee or the Paying Agent by the Company in excess of the amounts necessary to pay the redemption or purchase price of, and accrued interest, on, all Notes to be redeemed or purchased. 

If the Company complies with the provisions of the preceding paragraph, on and after the redemption or purchase date, interest will cease to
accrue on the Notes or the portions of Notes called for redemption or purchase. If a Note is redeemed or purchased on or after an interest record date but on or prior to the related interest payment date, then any accrued and unpaid interest up to
the Redemption Date shall be paid to the Person in whose name such Note was registered at the close of business on such record date. If any Note called for redemption or purchase is not so paid upon surrender for redemption or purchase because of
the failure of the Company to comply with the preceding paragraph, interest shall be paid on the unpaid principal, from the redemption or purchase date until such principal is paid, and to the extent lawful on any interest not paid on such unpaid
principal, in each case at the rate provided in the Notes and in Section 3.1. 
 SECTION 5.6. Notes Redeemed or
Purchased in Part. Upon surrender of a Note that is redeemed or purchased in part, the Company will issue and, upon receipt of a Company Order, the Trustee will authenticate for the Holder at the expense of the Company a new Note equal in
principal amount to the unredeemed or unpurchased portion of the Note surrendered; provided, that each such new Note will be in a minimum principal amount of $2,000 or integral multiple of $1,000 in excess thereof. 

SECTION 5.7. Optional Redemption. 

(a) At any time prior to June 15, 2027, the Company may redeem the Notes in whole or in part, at its option, upon not less than 10 nor
more than 60 days’ prior notice, with a copy to the Trustee, to each Holder of Notes to the address of such Holder appearing in the Notes Register, at a redemption price (expressed as percentages of principal amount of the Notes to be
redeemed) equal to 100.000% of the principal amount of Notes redeemed plus the relevant Applicable Premium as of, and accrued and unpaid interest, if any, to, but excluding, the date of redemption (the
“Redemption Date”), subject to the rights of Holders of the Notes on the relevant record date to receive interest due on the relevant interest payment date. 

  
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 (b) At any time and from time to time prior to June 15, 2025, the Company may, on one
or more occasions, upon not less than 10 nor more than 60 days’ prior notice, with a copy to the Trustee, to each Holder of Notes to the address of such Holder appearing in the Notes Register, redeem up to 40.0% of the original aggregate
principal amount of Notes issued under this Indenture at a redemption price (expressed as percentages of principal amount of the Notes to be redeemed) equal to 106.375% of the aggregate principal amount thereof, plus accrued and unpaid interest
thereon, if any, to, but excluding, the applicable Redemption Date, subject to the right of Holders of record of the Notes on the relevant record date to receive interest due on the relevant interest payment date, with the net cash proceeds
received by the Company of one or more Equity Offerings of the Company; provided that not less than 40.0% of the original aggregate principal amount of Notes initially issued under this Indenture remains outstanding immediately after the
occurrence of each such redemption (excluding Notes held by the Company or any of its Restricted Subsidiaries) unless all such Notes are redeemed substantially concurrently; provided, further, that each such redemption occurs not later
than 180 days after the date of closing of the related Equity Offering. The Trustee shall select the Notes to be purchased in the manner described under Sections 5.1 through 5.6. 

(c) Except pursuant to clauses (a) and (b) of this Section 5.7, the Notes will not be redeemable at the
Company’s option prior to June 15, 2027. 
 (d) At any time and from time to time on or after June 15, 2027, the Company may
redeem the Notes, in whole or in part, upon not less than 10 nor more than 60 days’ prior notice, with a copy to the Trustee, to each Holder of Notes to the address of such Holder appearing in the Notes Register at the redemption prices
(expressed as percentages of principal amount of the Notes to be redeemed) set forth in the table below, plus accrued and unpaid interest thereon, if any, to but excluding the applicable Redemption Date, subject to the right of Holders of
record of the Notes on the relevant record date to receive interest due on the relevant interest payment date, if redeemed during the twelve-month period beginning on June 15 of each of the years
indicated in the table below: 
  

					
	 Period
	  	Percentage	 
	 2027
	  	 	103.188	% 
	 2028
	  	 	102.125	% 
	 2029
	  	 	101.063	% 
	 2030 and thereafter
	  	 	100.000	% 

 (e) Notwithstanding the foregoing, in connection with any tender offer for the Notes, including a Change of
Control Offer or Asset Disposition Offer, if Holders of not less than 90.0% in aggregate principal amount of the outstanding Notes validly tender and do not withdraw such Notes in such tender offer and the Company, or any third party making such
tender offer in lieu of the Company, purchases all of the Notes validly tendered and not withdrawn by such Holders, the Company or such third party shall have the right upon not less than 10 nor more than 60 days’ prior notice, with a copy to
the Trustee, to each Holder of Notes to the address of such Holder appearing in the Notes Register, given not more than 15 days following such purchase date to redeem all Notes that remain outstanding following such purchase at a redemption price
equal to the price offered to each other Holder (excluding any early tender or incentive fee) in such tender offer plus, to the extent not included in the tender offer payment, accrued and unpaid interest, if any, thereon, to, but excluding, the
date of such redemption. 
 (f) Unless the Company defaults in the payment of the redemption price, interest will cease to accrue on the
Notes or portions thereof called for redemption on the applicable Redemption Date. 
 (g) Any redemption pursuant to this
Section 5.7 shall be made pursuant to the provisions of Sections 5.1 through 5.6. 

SECTION 5.8. Mandatory Redemption. The Company is not required to make mandatory redemption or sinking fund payments with respect to
the Notes; provided however, that under certain circumstances, the Company may be required to offer to purchase Notes under Section 3.5 and Section 3.9. The Company may at any time
and from time to time purchase our outstanding debt securities or loans, including the Notes, in privately negotiated or open market transactions, by tender offer or otherwise in the open market or otherwise. 

  
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 ARTICLE VI 

DEFAULTS AND REMEDIES 

SECTION 6.1. Events of Default. 

(a) Each of the following is an “Event of Default”: 

(1) default in any payment of interest on any Note when due and payable, continued for 30 days; 

(2) default in the payment of the principal amount of or premium, if any, on any Note issued under this Indenture when due at
its Stated Maturity, upon optional redemption, upon required repurchase, upon declaration or otherwise; 
 (3) failure by the
Company or any Guarantor to comply for 60 days after written notice by the Trustee on behalf of the Holders or by the Holders of at least 30.0% in aggregate principal amount of the outstanding Notes with any agreement or obligation contained in
this Indenture; provided that in the case of a failure to comply with this Indenture provisions described under Section 3.10, such period of continuance of such default or breach shall be 270 days after written
notice described in this clause (3) has been given; 
 (4) default under any mortgage, indenture or instrument under
which there may be issued or by which there may be secured or evidenced any Indebtedness for money borrowed by the Company or any Significant Subsidiary (or group of Restricted Subsidiaries that, taken together (as of the latest audited consolidated
financial statements for the Company and its Restricted Subsidiaries) would constitute a Significant Subsidiary) (or the payment of which is Guaranteed by the Company or any Significant Subsidiary (or group of Restricted Subsidiaries that, taken
together (as of the latest audited consolidated financial statements for the Company and its Restricted Subsidiaries) would constitute a Significant Subsidiary)) other than Indebtedness owed to the Company or a Restricted Subsidiary whether such
Indebtedness or Guarantee now exists, or is created after the date hereof, which default: 
 (A) is caused by a failure to
pay principal of such Indebtedness, at its stated final maturity (after giving effect to any applicable grace periods provided in such Indebtedness); or 

(B) results in the acceleration of such Indebtedness prior to its stated final maturity; 

and, in each case, the principal amount of any such Indebtedness, together with the principal amount of any other such Indebtedness under which
there has been a payment default of principal at its stated final maturity (after giving effect to any applicable grace periods) or the maturity of which has been so accelerated, aggregates to the greater of $1,080.0 million and 30.0% of LTM
EBITDA (measured at the date of such non-payment or acceleration) or more at any one time outstanding; 

(5) failure by the Company or any Significant Subsidiary (or group of Restricted Subsidiaries that, taken together (as of the
latest audited consolidated financial statements of the Company and its Restricted Subsidiaries), would constitute a Significant Subsidiary), to pay final judgments aggregating in excess of the greater of $1,080.0 million and 30.0% of LTM
EBITDA (measured at the date of such judgment) other than any judgments covered by indemnities provided by, or insurance policies issued by, reputable and creditworthy companies, which final judgments remain unpaid, undischarged and unstayed for a
period of more than 60 days after such judgment becomes final, and in the event such judgment is covered by insurance, an enforcement proceeding has been commenced by any creditor upon such judgment or decree which is not promptly stayed; 

  
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 (6) any Note Guarantee by a Significant Subsidiary ceases to be in full
force and effect, other than (x) in accordance with the terms of this Indenture, (y) a Guarantor that is a Significant Subsidiary denies or disaffirms its obligations under its Note Guarantee, other than in accordance with the terms of
this Indenture or upon release of such Note Guarantee in accordance with this Indenture or (z) in connection with the bankruptcy of a Guarantor, so long as the aggregate assets of such Guarantor and any other Guarantor whose Note Guarantee
ceased or ceases to be in full force as a result of a bankruptcy are less than the greater of $1,080.0 million and 30.0% of LTM EBITDA (measured at the date of such bankruptcy); 

(7) the Company or any Guarantor that is Significant Subsidiary or any group of Guarantors that, taken together (as of the
latest audited consolidated financial statements of the Company and its Restricted Subsidiaries), would constitute a Significant Subsidiary pursuant to or within the meaning of any Bankruptcy Law: 

(A) commences a voluntary case or proceeding; 

(B) consents to the entry of an order for relief against it in an involuntary case or proceeding; 

(C) consents to the appointment of a Custodian of it or for substantially all of its property; 

(D) makes a general assignment for the benefit of its creditors; 

(E) consents to or acquiesces in the institution of a bankruptcy or an insolvency proceeding against it; or 

(F) takes any comparable action under any foreign laws relating to insolvency; 

(8) a court of competent jurisdiction enters an order or decree under any Bankruptcy Law that: 

(A) is for relief against the Company or any Guarantor that is a Significant Subsidiary or any group of Guarantors that, taken
together as of the latest audited consolidated financial statements for the Company, would constitute a Significant Subsidiary, in an involuntary case; 

(B) appoints a Custodian of the Company, any Guarantor that is a Significant Subsidiary or any group of Guarantors that, taken
together as of the latest audited consolidated financial statements for the Company, would constitute a Significant Subsidiary, for substantially all of its property; 

(C) orders the winding up or liquidation of the Company, any Guarantor that is a Significant Subsidiary or any group of
Guarantors that, taken together as of the latest audited consolidated financial statements for the Company, would constitute a Significant Subsidiary; or 

(D) or any similar relief is granted under any foreign laws and the order, decree or relief remains unstayed and in effect for
60 consecutive days; 
 provided that a Default under clause (4) or (5) above will not constitute an Event of Default until the Trustee or the
Holders of at least 30.0% in principal amount of the outstanding Notes notify the Company of the Default and, with respect to clause (5), the Company does not cure such Default within the time specified in clause (5) after receipt of such
notice; provided, further, that a notice of Default may not be given with respect to any action taken, and reported 

  
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publicly or to Holders, more than two years prior to such notice of Default. Any notice of Default, notice of acceleration or instruction to the Trustee to provide a notice of Default, notice of
acceleration or take any other action (a “Noteholder Direction”) provided by any one or more Holders (each a “Directing Holder”) must be accompanied by a written representation from each such Holder delivered to the
Company and the Trustee that such Holder is not (or, in the case such Holder is DTC or its nominee, that such Holder is being instructed solely by beneficial owners that are not) Net Short (a “Position Representation”), which
representation, in the case of a Noteholder Direction relating to the delivery of a notice of Default shall be deemed a continuing representation until the resulting Event of Default is cured or otherwise ceases to exist or the Notes are
accelerated. In addition, each Directing Holder is deemed, at the time of providing a Noteholder Direction, to covenant to provide the Company with such other information as the Company may reasonably request from time to time in order to verify the
accuracy of such Noteholder’s Position Representation within five Business Days of request therefor (a “Verification Covenant”). In any case in which the Holder is DTC or its nominee, any Position Representation or Verification
Covenant required hereunder shall be provided by the beneficial owner of the Notes in lieu of DTC or its nominee and DTC shall be entitled to conclusively rely on such Position Representation and Verification Covenant in delivering its direction to
the Trustee. 
 (b) If, following the delivery of a Noteholder Direction, but prior to acceleration of the Notes, the Company determines in
good faith that there is a reasonable basis to believe a Directing Holder was, at any relevant time, in breach of its Position Representation and provides to the Trustee an Officer’s Certificate stating that the Company has initiated litigation
in a court of competent jurisdiction seeking a determination that such Directing Holder was, at such time, in breach of its Position Representation, and seeking to invalidate any Event of Default or acceleration (or notice thereof) that resulted
from the applicable Noteholder Direction, the cure period with respect to such Event of Default shall be automatically stayed and the cure period with respect to such Event of Default shall be automatically reinstituted and any remedy stayed pending
a final and non-appealable determination of a court of competent jurisdiction on such matter. If, following the delivery of a Noteholder Direction, but prior to acceleration of the Notes, the Company provides
to the Trustee an Officer’s Certificate stating that a Directing Holder failed to satisfy its Verification Covenant, the cure period with respect to such Default shall be automatically stayed and the cure period with respect to any Default or
Event of Default that resulted from the applicable Noteholder Direction shall be automatically reinstituted and any remedy stayed pending satisfaction of such Verification Covenant. Any breach of the Position Representation shall result in such
Holder’s participation in such Noteholder Direction being disregarded; and, if, without the participation of such Holder, the percentage of Notes held by the remaining Holders that provided such Noteholder Direction would have been insufficient
to validly provide such Noteholder Direction, such Noteholder Direction shall be void ab initio (other than any indemnity such directing Holder may have offered the Trustee), with the effect that such Event of Default shall be deemed never to have
occurred, acceleration voided and the Trustee shall be deemed not to have received such Noteholder Direction or any notice of such Default or Event of Default. 

(c) Notwithstanding anything in the preceding two paragraphs to the contrary, any Noteholder Direction delivered to the Trustee during the
pendency of an Event of Default as the result of a bankruptcy or similar proceeding shall not require compliance with the foregoing paragraphs. 

(d) For the avoidance of doubt, the Trustee shall be entitled to conclusively rely on any Noteholder Direction delivered to it in accordance
with this Indenture, shall have no duty to inquire as to or investigate the accuracy of any Position Representation, enforce compliance with any Verification Covenant, verify any statements in any Officer’s Certificate delivered to it, or
otherwise make calculations, investigations or determinations with respect to Derivative Instruments, Net Shorts, Long Derivative Instruments, Short Derivative Instruments or otherwise. The Trustee shall have no liability to the Company, any Holder
or any other Person in acting in good faith on a Noteholder Direction. 
 (e) If a Default for a failure to report or failure to deliver a
required certificate in connection with another default (the “Initial Default”) occurs, then at the time such Initial Default is cured, such Default for a failure to report or failure to deliver a required certificate in connection
with another default that resulted solely because of that Initial Default shall also be cured without any further action. 
 (f) Any Default
or Event of Default for the failure to comply with the time periods prescribed in Article III or otherwise to deliver any notice or certificate pursuant to any other provision of this Indenture shall be deemed to be cured upon the compliance
with the required action or, as applicable, the delivery of any such report 

  
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required by such provision or such notice or certificate, as applicable, even though such compliance or delivery is not within the prescribed period specified in this Indenture. Any time period
specified in this Indenture to cure any actual or alleged Default or Event of Default may be extended or stayed by a court of competent jurisdiction to the extent such actual or alleged Default or Event of Default is the subject of litigation. 

SECTION 6.2. Acceleration. If any Event of Default (other than an Event of Default described in clause (7) or (8) of
Section 6.1(a)) occurs and is continuing, the Trustee by notice to the Company, or the Holders of at least 30.0% in principal amount of the outstanding Notes by written notice to the Company and the Trustee, may, and the
Trustee at the request of such Holders shall (subject to the Trustee’s rights under Section 6.5 and Section 7.2(h)), declare the principal of and accrued and unpaid interest, if any, on all
the Notes to be due and payable. Upon such a declaration, such principal and accrued and unpaid interest, if any, will be due and payable immediately. 

In the event of any Event of Default specified in clause (4) of Section 6.1(a), such Event of Default and all
consequences thereof shall be annulled, waived and rescinded, automatically and without any action by the Trustee or the Holders, if within 30 days after such Event of Default arose: 

(1) (x) the Indebtedness that gave rise to such Event of Default shall have been discharged in full; or 

(y) the holders thereof have rescinded or waived the acceleration, notice or action (as the case may be) giving rise to such
Event of Default; or 
 (z) if the default that is the basis for such Event of Default has been cured; and 

(2) the annulment of the acceleration of the Notes would not conflict with any judgment or decree of a court of competent
jurisdiction. 
 If an Event of Default described in clause (7) or (8) of Section 6.1(a) occurs and is
continuing, the principal of and accrued and unpaid interest, if any, on all the Notes will become and be immediately due and payable without any declaration or other act on the part of the Trustee or any Holders. 

SECTION 6.3. Other Remedies. If an Event of 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 premium, if any, 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 an Event of Default shall not impair the right or remedy or constitute a waiver of or acquiescence in the Event of Default. No remedy is exclusive of any other
remedy. All available remedies are cumulative. 
 SECTION 6.4. Waiver of Past Defaults. The Holders of a majority in aggregate
principal amount of the then outstanding Notes by written notice to the Trustee may, on behalf of all of the Holders, (a) waive, by their consent (including, without limitation, consents obtained in connection with a purchase of, or tender
offer or exchange offer for, Notes), an existing Default or Event of Default and its consequences under this Indenture except (i) a Default or Event of Default in the payment of the principal of, or interest, on a Note or (ii) a Default or
Event of Default in respect of a provision that under Section 9.2 cannot be amended without the consent of each Holder affected and (b) rescind any acceleration with respect to the Notes and its consequences if
(1) such rescission would not conflict with any judgment or decree of a court of competent jurisdiction, (2) all existing Events of Default have been cured or waived except nonpayment of principal, premium, if any, interest that has become
due solely because of the acceleration, (3) to the extent the payment of such interest is lawful, interest on overdue installments of interest and overdue principal, which has become due otherwise than by such declaration of acceleration, has
been paid, (4) the Company has paid the Trustee its compensation and reimbursed the Trustee for its reasonable expenses, disbursements and advances and (5) in the event of the cure or waiver of an Event of Default of the type described in
clause (4) of Section 6.1(a), the Trustee shall have received an Officer’s Certificate and an Opinion of Counsel stating that such Event of Default has been cured or waived. No such rescission shall affect any
subsequent Default or impair any right consequent thereto. When a Default or Event of Default is waived, it is deemed cured, but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any consequent right. 

  
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 SECTION 6.5. Control by Majority. The Holders of a majority in 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 of exercising any trust or power conferred on the Trustee. However, the Trustee may refuse to follow any direction
that conflicts with law or this Indenture or the Notes or, subject to Sections 7.1 and 7.2, that the Trustee determines is unduly prejudicial to the rights of other Holders or would involve the Trustee in personal
liability (it being understood that the Trustee has no duty to determine if any directed action is prejudicial to any Holder); provided, however, that the Trustee may take any other action deemed proper by the Trustee that is not
inconsistent with such direction. Prior to taking any such action hereunder, the Trustee shall be entitled to indemnification satisfactory to it against all fees, losses, liabilities and expenses (including attorney’s fees and expenses) that
may be caused by taking or not taking such action. 
 SECTION 6.6. Limitation on Suits. Subject to
Section 6.7, a Holder may not pursue any remedy with respect to this Indenture or the Notes unless: 

(1) such Holder has previously given the Trustee written notice that an Event of Default is continuing; 

(2) Holders of at least 30.0% in principal amount of the outstanding Notes have requested in writing the Trustee to pursue the
remedy; 
 (3) such Holders have offered in writing and, if requested, provided to the Trustee security or indemnity
satisfactory to the Trustee against any loss, liability or expense; 
 (4) the Trustee has not complied with such request
within 60 days after the receipt of the written request and the offer of security or indemnity; and 
 (5) Holders of a
majority in principal amount of the outstanding Notes have not given the Trustee a written direction that, in the opinion of the Trustee, is inconsistent with such request within such 60-day period. 

A Holder may not use this Indenture to prejudice the rights of another Holder or to obtain a preference or priority over another Holder (it
being understood that the Trustee does not have an affirmative duty to ascertain whether or not such actions or forbearances are unduly prejudicial to such Holders). 

SECTION 6.7. Rights of Holders to Receive Payment. Notwithstanding any other provision of this Indenture (including, without
limitation, Section 6.6), the contractual right of any Holder to receive payment of interest on the Notes held by such Holder or to institute suit for the enforcement of any such payment on or with respect to such
Holder’s Notes shall not be impaired or affected without the consent of such Holder (and, for the avoidance of doubt, the amendment, supplement or modification in accordance with the terms of this Indenture of Articles III and IV
and Sections 6.1(a)(3), (4), (5) and (6) and the related definitions shall be deemed not to impair the contractual right of any Holder to receive payments of principal of and interest on such Holder’s Notes on
or after the due dates therefor or to institute suit for the enforcement of any such payment on or with respect to such Holder’s Note). 

SECTION 6.8. Collection Suit by Trustee. If an Event of Default specified in clauses (1) or (2) of
Section 6.1(a) occurs and is continuing, the Trustee may recover judgment in its own name and as trustee of an express trust against the Company for the whole amount then due and owing (together with interest on any unpaid
interest to the extent lawful) and the amounts provided for in Section 7.7. 
 SECTION 6.9. 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 reasonable compensation, expenses, disbursements
and advances of the Trustee, its agents and counsel) and the Holders allowed in any judicial proceedings relative to the Company, its Subsidiaries or its or their respective 

  
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creditors or properties and, unless prohibited by law or applicable regulations, may be entitled and empowered to participate as a member of any official committee of creditors appointed in such
matter and may vote on behalf of the Holders in any election of a trustee in bankruptcy or other Person performing similar functions, and any Custodian in any such judicial proceeding is hereby authorized by each Holder to make 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 it for the compensation, expenses, disbursements and advances of the Trustee, its agents and its
counsel, and any other amounts due the Trustee under Section 7.7. 
 No provision of this Indenture 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. 
 SECTION 6.10. Priorities. 

(a) If the Trustee collects any money or property pursuant to this Article VI, it shall pay out the money or
property in the following order: 
 FIRST: to the Trustee for amounts due to it under Section 7.7;

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

THIRD: to the Company, or to the extent the Trustee collects any amount for any Guarantor, to such Guarantor. 

(b) The Trustee may fix a record date and payment date for any payment to Holders pursuant to this Section 6.10. At
least 15 days before such record date, the Company shall send or cause to be sent to each Holder and the Trustee a notice that states the record date, the payment date and amount to be paid. 

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 the Company, a suit by a Holder pursuant to Section 6.7 or a suit by Holders of more than 10.0% in outstanding principal amount of the Notes. 

ARTICLE VII 
 TRUSTEE 

SECTION 7.1. Duties of Trustee. 

(a) If an Event of Default has occurred and is continuing, and is known to the Trustee, the Trustee shall exercise the rights and powers
vested in it by this Indenture and use the same degree of care and skill in its exercise as a prudent Person would exercise or use under the circumstances in the conduct of such person’s own affairs. 

(b) Except during the continuance of an Event of Default: 

(1) the Trustee undertakes to perform such duties and only such duties as are specifically set forth in this Indenture and no
implied covenants or obligations shall be read into this Indenture against the Trustee; and 

  
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 (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, opinions or orders furnished to the Trustee and conforming to the requirements of this Indenture or the Notes, as the case may be.
However, in the case of any such certificates or opinions which by any provisions hereof are specifically required to be furnished to the Trustee, the Trustee shall examine such certificates and opinions to determine whether or not they conform to
the requirements of this Indenture or the Notes, as the case may be (but need not confirm or investigate the accuracy of mathematical calculations or other facts stated therein). 

(c) 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 paragraph (b) of this
Section 7.1; 
 (2) the Trustee shall not be liable for any error of judgment made in good faith by
a Trust 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 6.5; and 

(4) No provision of this Indenture or the Notes shall require the Trustee to expend or risk its own funds or otherwise incur
financial liability in the performance of any of its duties hereunder or thereunder or in the exercise of any of its rights or powers, if it shall have reasonable grounds to believe that repayment of such funds or adequate indemnity against such
risk or liability is not reasonably assured to it. 
 (d) Every provision of this Indenture that in any way relates to the Trustee is
subject to paragraphs (a), (b) and (c) of this Section 7.1. 
 (e) The Trustee shall not be liable for
interest on any money received by it except as the Trustee may agree in writing with the Company. 
 (f) Money held in trust by the Trustee
need not be segregated from other funds except to the extent required by law. 
 (g) Every provision of this Indenture relating to the
conduct or affecting the liability of or affording protection to the Trustee shall be subject to the provisions of this Section 7.1. 

SECTION 7.2. Rights of Trustee. Subject to Section 7.1: 

(a) The Trustee may conclusively rely on and shall be fully protected in acting or refraining from acting upon any resolution, certificate,
statement, instrument, opinion, report, notice, request, direction, consent, order or other paper or document (whether in its original or facsimile form) reasonably 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. The Trustee shall receive and retain financial reports and statements of the Company as provided herein, but shall have no duty to review or analyze such reports or
statements to determine compliance with covenants or other obligations of the Company. 
 (b) Before the Trustee acts or refrains from
acting, it may require an Officer’s Certificate and/or an Opinion of Counsel. The Trustee shall not be liable for any action it takes or omits to take in good faith in reliance on an Officer’s Certificate or Opinion of Counsel. 

(c) The Trustee may execute any of the trusts and powers hereunder or perform any duties hereunder either directly or by or through its
attorneys and agents and shall not be responsible for the misconduct or negligence of any agent or attorney appointed with due care by it hereunder. 

  
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 (d) The Trustee shall not be liable for any action it takes or omits to take in good faith
which it believes to be authorized or within its rights or powers conferred upon it by this Indenture. 
 (e) The Trustee may consult with
counsel of its selection, and the advice or opinion of counsel relating to this Indenture or the Notes shall be full and complete authorization and protection from liability in respect of any action taken, omitted or suffered by it hereunder or
under the Notes in good faith and in accordance with the advice or opinion of such counsel. 
 (f) The Trustee shall not be deemed to have
notice of any Default or Event of Default or whether any entity or group of entities constitutes a Significant Subsidiary unless a Trust Officer of the Trustee has actual knowledge thereof or unless written notice of any event which is in fact such
a Default or Event of Default or of any such Significant Subsidiary is received by the Trustee at the corporate trust office of the Trustee specified in Section 3.12, and such notice references the Notes and this Indenture
and states it is a “Notice of Default”. 
 (g) The rights, privileges, protections, immunities and benefits given to the Trustee,
including, without limitation, 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. 

(h) The Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture or the Notes 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 security or indemnity satisfactory to it against the costs, expenses and liabilities which may be
incurred therein or thereby. 
 (i) The Trustee shall not be deemed to have knowledge of any fact or matter unless such fact or matter is
known to a Trust Officer of the Trustee. 
 (j) Whenever in the administration of this Indenture or the Notes the Trustee shall deem it
desirable that a matter be proved or established prior to taking, suffering or omitting any action hereunder or thereunder, the Trustee (unless other evidence be herein specifically prescribed) may, in the absence of negligence or willful misconduct
on its part, conclusively rely upon an Officer’s Certificate. 
 (k) The Trustee shall not be bound to make any investigation into the
facts or matters stated in any resolution, certificate, statement, instrument, report, notice, request, direction, consent, order, bond, debenture, coupon 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 to examine, during business hours and upon reasonable notice, the books, records
and premises of the Company and the Restricted Subsidiaries, personally or by agent or attorney at the sole cost of the Company and shall incur no liability or additional liability of any kind by reason of such inquiry or investigation. 

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

(m) The Trustee may request that the Company deliver an Officer’s Certificate setting forth the names of individuals and/or titles of
officers authorized at such time to take specified actions pursuant to this Indenture or the Notes. 
 (n) In no event shall the Trustee be
liable to any Person for special, punitive, indirect, consequential or incidental loss or damage of any kind whatsoever (including, but not limited to, lost profits), even if the Trustee has been advised of the likelihood of such loss or damage.

 (o) Unless otherwise specifically provided in this Indenture, any demand, request, direction or notice from the Company shall be
sufficient if signed by one Officer of the Company. 
 (p) The permissive rights of the Trustee enumerated herein shall not be construed as
duties. 

  
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 SECTION 7.3. 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 Company, Guarantors or their Affiliates with the same rights it would have if it were not Trustee. Any Paying Agent, Registrar,
co-registrar or co-paying agent may do the same with like rights. However, the Trustee must comply with Section 7.10. In addition, the Trustee
shall be permitted to engage in transactions with the Company; provided, however, that if the Trustee acquires any conflicting interest, the Trustee must (i) eliminate such conflict within 90 days of acquiring such conflicting
interest, (ii) apply to the SEC for permission to continue acting as Trustee or (iii) resign. 
 SECTION 7.4.
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, shall not be accountable for the Company’s use of the proceeds
from the sale of the Notes, shall not be responsible for the use or application of any money received by any Paying Agent other than the Trustee or any money paid to the Company pursuant to the terms of this Indenture and shall not be responsible
for any statement of the Company in this Indenture or in any document issued in connection with the sale of the Notes or in the Notes other than the Trustee’s certificate of authentication. 

SECTION 7.5. Notice of Defaults. If a Default or Event of Default occurs and is continuing and if a Trust Officer has actual knowledge
thereof, the Trustee shall send electronically or by first class mail to each Holder at the address set forth in the Notes Register notice of the Default or Event of Default within 60 days after it is actually known to a Trust Officer. Except
in the case of a Default or Event of Default in payment of principal of or interest on any Note (including payments pursuant to the optional redemption or required repurchase provisions of such Note), the Trustee may withhold the notice if and so
long it in good faith determines that withholding the notice is in the interests of Holders. The Trustee will not be deemed to have knowledge of any Defaults or Events of Default unless written notice of an event, which is in fact a Default, has
been delivered to the Trustee at its office specified in Section 12.1 and such notice references the Notes and this Indenture and states that it is a “Notice of Default.” 

SECTION 7.6. [Reserved]. 

SECTION 7.7. Compensation and Indemnity. The Company shall pay to the Trustee from time to time compensation for its services hereunder
and under the Notes as the Company and the Trustee shall from time to time agree in writing. The Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Company shall reimburse the Trustee
upon request for all reasonable out-of-pocket expenses incurred or made by it, including, but not limited to, costs of collection, costs of preparing reports,
certificates and other documents, costs of preparation and mailing of notices to Holders. Such expenses shall include the reasonable compensation and expenses, disbursements and advances of the agents, counsel, accountants and experts of the
Trustee. The Company shall indemnify the Trustee, its directors, officers, employees and agents against any and all loss, liability, damages, claims or expense, including taxes (other than taxes based upon the income of the Trustee) (including
reasonable attorneys’ and agents’ fees and expenses) incurred by it without willful misconduct or gross negligence, as determined by a final nonappealable order of a court of competent jurisdiction, on its part in connection with the
administration of this trust and the performance of its duties hereunder and under the Notes, including the costs and expenses of enforcing this Indenture (including this Section 7.7) and the Notes and of defending itself
against any claims (whether asserted by any Holder, the Company or otherwise). The Trustee shall notify the Company promptly of any claim for which it may seek indemnity of which it has received written notice. Failure by the Trustee to so notify
the Company shall not relieve the Company of its obligations hereunder. The Company shall defend the claim and the Trustee shall provide reasonable cooperation at the Company’s expense in the defense. The Trustee may have separate counsel and
the Company shall pay the fees and expenses of such counsel; provided that the Company shall not be required to pay the fees and expenses of such separate counsel if it assumes the Trustee’s defense, and, in the reasonable judgment of
outside counsel to the Trustee, there is no conflict of interest between the Company and the Trustee in connection with such defense. 
 To
secure the Company’s payment obligations in this Section 7.7, the Trustee shall have a lien prior to the Notes on all money or property held or collected by the Trustee other than money or property held in trust to pay
principal of and interest on particular Notes. Such lien shall survive the satisfaction and discharge of this Indenture. The Trustee’s respective right to receive payment of any amounts due under this Section 7.7 shall
not be subordinate to any other liability or Indebtedness of the Company. 

  
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 The Company’s payment obligations pursuant to this
Section 7.7 shall survive the discharge of this Indenture and any resignation or removal of the Trustee under Section 7.8. Without prejudice to any other rights available to the Trustee under
applicable law, when the Trustee incurs fees, expenses or renders services after the occurrence of a Default specified in clause (7) or clause (8) of Section 6.1(a), the fees and expenses (including the reasonable
fees and expenses of its counsel) are intended to constitute expenses of administration under any Bankruptcy Law. 
 SECTION 7.8.
Replacement of Trustee. The Trustee may resign at any time by so notifying the Company in writing not less than 30 days prior to the effective date of such resignation. The Holders of a majority in principal amount of the Notes may remove the
Trustee by so notifying the removed Trustee in writing not less than 30 days prior to the effective date of such removal and may appoint a successor Trustee with the Company’s written consent, which consent will not be unreasonably
withheld. The Company shall remove the Trustee if: 
 (1) the Trustee fails to comply with
Section 7.10; 
 (2) the Trustee is adjudged bankrupt or insolvent; 

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

(4) the Trustee otherwise becomes incapable of acting. 

If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes and such Holders do not
reasonably promptly appoint a successor Trustee as described in the preceding paragraph, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company
shall promptly appoint a successor Trustee. 
 A successor Trustee shall deliver a written acceptance of its appointment to the retiring
Trustee and to the Company. Thereupon 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. The successor Trustee shall
mail a notice of its succession to Holders. The retiring Trustee shall, at the expense of the Company, promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in
Section 7.7. 
 If a successor Trustee does not take office within 60 days after the retiring Trustee resigns
or is removed, the retiring Trustee or the Holders of at least 10.0% in principal amount of the Notes may petition, at the Company’s expense, any court of competent jurisdiction for the appointment of a successor Trustee. 

If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in
TIA Section 310(b), any Holder, who has been a bona fide holder of a Note for at least six months, may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. 

Notwithstanding the replacement of the Trustee pursuant to this Section 7.8, the Company’s obligations under
Section 7.7 shall continue for the benefit of the retiring Trustee. The predecessor Trustee shall have no liability for any action or inaction of any successor Trustee. 

SECTION 7.9. Successor Trustee by Merger. If the Trustee consolidates with, merges or converts into, or transfers all or substantially
all its corporate trust business or assets to, another corporation or banking association, the resulting, surviving or transferee corporation without any further act shall be the successor Trustee. 

In case at the time such successor or successors by merger, conversion or consolidation to the Trustee shall succeed to the trusts created by
this Indenture, any of the Notes shall have been authenticated but not delivered, any such successor to the Trustee may adopt the certificate of authentication of any predecessor trustee, and deliver such Notes so authenticated; and in case at that
time any of the Notes shall not have been authenticated, any successor to the Trustee may authenticate such Notes either in the name of any predecessor hereunder or in the name of the successor to the Trustee; provided that the right to adopt
the certificate of authentication of any predecessor Trustee or authenticate Notes in the name of any predecessor Trustee shall only apply to its successor or successors by merger, consolidation or conversion. 

  
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 SECTION 7.10. Eligibility; Disqualification. This Indenture shall always have a
Trustee. The Trustee shall have a combined capital and surplus of at least $100.0 million as set forth in its most recent published annual report of condition. 

SECTION 7.11. [Reserved]. 

SECTION 7.12. Trustee’s Application for Instruction from the Company. Any application by the Trustee for
written instructions from the Company may, at the option of the Trustee, set forth in writing any action proposed to be taken or omitted by the Trustee under this Indenture and the date on and/or after which such action shall be taken or such
omission shall be effective. The Trustee shall not be liable for any action taken by, or omission of, the Trustee in accordance with a proposal included in such application on or after the date specified in such application (which date shall not be
less than three Business Days after the date any Officer of the Company actually receives such application, unless any such Officer shall have consented in writing to any earlier date) unless prior to taking any such action (or the effective date in
the case of an omission), the Trustee shall have received written instructions in response to such application specifying the action to be taken or omitted. 

ARTICLE VIII 
 LEGAL DEFEASANCE
AND COVENANT DEFEASANCE 
 SECTION 8.1. Option to Effect Legal Defeasance or Covenant Defeasance; Defeasance. The Company may, at
its option and at any time, elect to have either Section 8.2 or 8.3 hereof be applied to all outstanding Notes upon compliance with the conditions set forth below in this Article VIII. 

SECTION 8.2. Legal Defeasance and Discharge. Upon the Company’s exercise under Section 8.1 hereof of the
option applicable to this Section 8.2, the Company and each of the Guarantors will, subject to the satisfaction of the conditions set forth in Section 8.4 hereof, be deemed to have been discharged
from their obligations with respect to all outstanding Notes (including the Guarantees) on the date the conditions set forth below are satisfied (hereinafter, “Legal Defeasance”). For this purpose, Legal Defeasance means that the
Company and the Guarantors will be deemed to have paid and discharged the entire Indebtedness represented by the outstanding Notes (including the Guarantees), which will thereafter be deemed to be “outstanding” only for the purposes of
Section 8.5 hereof and the other Sections of this Indenture referred to in clauses (1) and (2) below, and to have satisfied all of their other obligations under the Note Documents (and the Trustee, on written
demand of and at the expense of the Company, shall execute such instruments reasonably requested by the Company acknowledging the same) and to have cured all then existing Events of Default, except for the following provisions which will survive
until otherwise terminated or discharged hereunder: 
 (1) the rights of Holders of Notes issued under this Indenture to
receive payments in respect of the principal of, premium, if any, and interest, on the Notes when such payments are due solely out of the trust referred to in Section 8.4 hereof; 

(2) the Company’s obligations with respect to the Notes under Article II concerning issuing
temporary Notes, registration of such Notes, mutilated, destroyed, lost or stolen Notes and Section 3.12 hereof concerning the maintenance of an office or agency for payment and money for security payments held in trust;

 (3) the rights, powers, trusts, duties and immunities of the Trustee and the Company’ or Guarantors’ obligations
in connection therewith; and 
 (4) this Article VIII with respect to provisions relating to Legal
Defeasance. 
 SECTION 8.3. Covenant Defeasance. Upon the Company’ exercise under Section 8.1 hereof
of the option applicable to this Section 8.3, the Company and each of the Guarantors will, subject to the satisfaction of the conditions set forth in Section 8.4 hereof, be released from each of
their obligations under the covenants contained in Section 3.2, 3.3, 3.4, 3.5, 3.6, 3.7, 3.8, 3.9, 3.10, 3.16, 3.19, 3.21 and
Section 4.1 (except Section 4.1(a)(1) and (a)(2)) 

  
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hereof with respect to the outstanding Notes on and after the date the conditions set forth in Section 8.4 hereof are satisfied (hereinafter, “Covenant
Defeasance”), and the Notes will 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 will continue to be deemed “outstanding” for all other purposes hereunder. For this purpose, Covenant Defeasance means that, with respect to the outstanding Notes and Guarantees, the Company and the 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 a Default or an Event of Default under Section 6.1(a) hereof, but, except as specified above, the remainder of
this Indenture and such Notes and Guarantees will be unaffected thereby. In addition, upon the Company’s exercise under Section 8.1 hereof of the option applicable to this Section 8.3, subject
to the satisfaction of the conditions set forth in Section 8.4 hereof, Sections 6.1(a)(3) (other than with respect to Section 4.1(a)(1) and (a)(2)),
6.1(a)(4), 6.1(a)(5), 6.1(a)(6), 6.1(a)(7) (with respect only to a Guarantor that is a Significant Subsidiary or any group of Guarantors that taken together would constitute a Significant Subsidiary), and 6.1(a)(8)
(with respect only to a Guarantor that is a Significant Subsidiaries or any group of Guarantors that taken together would constitute a Significant Subsidiary) hereof shall not constitute Events of Default. 

SECTION 8.4. Conditions to Legal or Covenant Defeasance. In order to exercise either Legal Defeasance or Covenant Defeasance under
either Section 8.2 or 8.3 hereof: 
 (1) the Company must irrevocably deposit with the
Trustee, in trust, for the benefit of the Holders, cash in U.S. dollars, U.S. Government Obligations, or a combination thereof, in such amounts as will be sufficient, in the opinion of a nationally recognized firm of independent public
accountants, to pay the principal of and premium, if any, interest, due on the Notes issued under this Indenture on the stated maturity date or on the applicable Redemption Date, as the case may be, and the Company must specify whether such Notes
are being defeased to maturity or to a particular Redemption Date; provided, that upon any redemption that requires the payment of the Applicable Premium, the amount deposited shall be sufficient for purposes of this Indenture 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 Redemption Date(any such amount, the “Applicable Premium Deficit”) only
required to be deposited with the Trustee on or prior to the Redemption Date; provided, further, that any Applicable Premium Deficit shall be set forth in an Officer’s Certificate delivered to the Trustee at least two Business
Days prior to the Redemption Date that confirms that such Applicable Premium Deficit shall be applied toward such redemption; 

(2) in the case of Legal Defeasance, the Company shall have delivered to the Trustee an Opinion of Counsel in the United States
confirming that, subject to customary assumptions and exclusions; 
 (A) the Company has received from, or there has been
published by, the United States Internal Revenue Service a ruling; or 
 (B) since the issuance of such Notes, there has been
a change in the applicable U.S. federal income tax law; 
 in either case to the effect that, and based thereon such Opinion of Counsel
in the United States shall confirm that, subject to customary assumptions and exclusions, the beneficial owners, in their capacity as Holders of the Notes; 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 Company shall have delivered to the Trustee an Opinion of Counsel in the United
States confirming that, subject to customary assumptions and exclusions, the Holders, in their capacity as Holders of the Notes, 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; 

  
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 (4) no Default or Event of Default (other than that resulting from borrowing
funds to be applied to make such deposit and the granting of Liens in connection therewith) shall have occurred and be continuing on the date of such deposit; 

(5) such Legal Defeasance or Covenant Defeasance shall not result in a breach or violation of, or constitute a default under
the Credit Facilities or any other material agreement or instrument (other than this Indenture) to which, the Company or any Guarantor is a party or by which the Company or any Guarantor is bound; 

(6) [reserved]; 

(7) the Company shall have delivered to the Trustee an Officer’s Certificate stating that the deposit was not made by the
Company with the intent of defeating, hindering, delaying, defrauding or preferring any creditors of the Company or any Guarantor or others; and 

(8) the Company shall have delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel in the United
States (which Opinion of Counsel may be subject to customary assumptions and exclusions) each stating that all conditions precedent provided for or relating to the Legal Defeasance or the Covenant Defeasance, as the case may be, have been complied
with. 
 SECTION 8.5. Deposited Money and U.S. Government Obligations to be Held in Trust; Other Miscellaneous Provisions. Subject to
Section 8.6 hereof, all money and U.S. Government Obligations (including the proceeds thereof) deposited with the Trustee (or other qualifying trustee, collectively for purposes of this
Section 8.5, the “Trustee”) pursuant to Section 8.4 hereof in respect of the outstanding Notes will be held in trust and applied by the Trustee, in accordance with the provisions
of such Notes and this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as Paying Agent) as the Trustee may determine, to the Holders of such Notes of all sums due and to become due thereon in
respect of principal, premium, and interest, but such money need not be segregated from other funds except to the extent required by law. 

The Company will pay and indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the cash or U.S. Government
Obligations deposited pursuant to Section 8.4 hereof 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. 
 Notwithstanding anything in this Article VIII to the contrary, the Trustee will deliver or pay to the
Company from time to time upon the request of the Company any money or U.S. Government Obligations held by it as provided in Section 8.4 hereof which, in the opinion of a nationally recognized firm of independent
public accountants expressed in a written certification thereof delivered to the Trustee (which may be the opinion delivered under Section 8.4(1) hereof), 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 8.6. Repayment to the Company. Any
money deposited with the Trustee or any Paying Agent, or then held by the Company, in trust for the payment of the principal of, premium or interest on, any Note and remaining unclaimed for two years after such principal, premium or interest has
become due and payable shall be paid to the Company on their written request unless an abandoned property law designates another Person or (if then held by the Company) will be discharged from such trust; and the Holder of such Note will thereafter
be permitted to look only to the Company for payment thereof unless an abandoned property law designates another Person, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the Company as
trustee thereof, will thereupon cease; provided, however, that the Trustee or such Paying Agent, before being required to make any such repayment, shall at the expense of the Company cause to be published once, in the New York Times
and The Wall Street Journal (national edition), notice that such money remains unclaimed and that, after a date specified therein, which will not be less than 30 days from the date of such notification or publication, any unclaimed balance of such
money then remaining will be repaid to the Company. 

  
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 SECTION 8.7. Reinstatement. If the Trustee or Paying Agent is unable to apply any
money or U.S. dollars or U.S. Government Obligations in accordance with Section 8.2 or 8.3 hereof, as the case may be, by reason of any order or judgment of any court or Governmental Authority enjoining, restraining
or otherwise prohibiting such application, then the Company’s and the Guarantors’ obligations under this Indenture and the Notes and the Guarantees will be revived and reinstated as though no deposit had occurred pursuant to
Section 8.2 or 8.3 hereof until such time as the Trustee or Paying Agent is permitted to apply all such money in accordance with Section 8.2 or 8.3 hereof, as the case may be;
provided, however, that, if the Company make any payment of principal of, premium, or interest on, any Note following the reinstatement of its obligations, the Company will be subrogated to the rights of the Holders of such Notes to
receive such payment from the money or U.S. Government Obligations held by the Trustee or Paying Agent. 
 ARTICLE IX 

AMENDMENTS 
 SECTION 9.1.
Without Consent of Holders. Notwithstanding Section 9.2 of this Indenture, without the consent of any Holder, the Company, any Guarantor (with respect to its Guarantee or this Indenture), the Trustee and the other
parties thereto, as applicable, may amend, supplement or modify any Note Documents, and the Company may direct the Trustee, and the Trustee shall, enter into an amendment to the Note Documents, to: 

(1) cure any ambiguity, omission, mistake, defect, error or inconsistency, conform any provision to any provision under the
heading “Description of the Notes” in the Offering Circular or reduce the minimum denomination of the Notes; 
 (2)
provide for the assumption by a successor Person of the obligations of the Company or a Guarantor under any Note Document; 

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

(4) add to the covenants or provide for a Note Guarantee for the benefit of the Holders or to surrender any right or power
conferred upon the Company or any Restricted Subsidiary; 
 (5) make any change that does not adversely affect the rights of
any Holder in any material respect; 
 (6) at the Company’s election, comply with any requirement of the SEC in
connection with the qualification of this Indenture under the TIA, if such qualification is required; 
 (7) make such
provisions as necessary (as determined in good faith by the Company) for the issuance of Additional Notes; 
 (8) provide for
any Restricted Subsidiary to provide a Note Guarantee in accordance with Section 3.2, to add Guarantees with respect to the Notes, to add security to or for the benefit of the Notes, or to confirm and evidence the release,
termination, discharge or retaking of any Guarantee or Lien with respect to or securing the Notes when such release, termination, discharge or retaking is provided for under this Indenture; 

(9) evidence and provide for the acceptance and appointment under this Indenture of a successor Trustee pursuant to the
requirements hereof or to provide for the accession by the Trustee to any Note Document; or 
 (10) make any amendment to the
provisions of this Indenture relating to the transfer and legending of Notes not prohibited by this Indenture, including, without limitation, to facilitate the issuance and administration of Notes; provided, however, that
(i) compliance with this Indenture as so amended would not result in Notes being transferred in violation of the Securities Act or any other applicable securities law and (ii) such amendment does not adversely affect the rights of Holders
to transfer Notes in any material respect. 

  
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 Subject to Section 9.2, upon the request of the Company
accompanied by a Board Resolution authorizing the execution of any such amended or supplemental indenture, and upon receipt by the Trustee of the documents described in Sections 9.6 and 12.4, the Trustee will join
with the Company and the Guarantors in the execution of such amended or supplemental indenture unless such amended or supplemental indenture affects the Trustee’s own rights, duties, liabilities or immunities under this Indenture or otherwise,
in which case the Trustee may in its discretion, but will not be obligated to, enter into such amended or supplemental Indenture. 
 After
an amendment or supplement under this Section 9.1 becomes effective, the Company shall mail to Holders a notice briefly describing such amendment or supplement. The failure to give such notice to all Holders, or any defect
therein, shall not impair or affect the validity of an amendment or supplement under this Section 9.1. 
 SECTION
9.2. With Consent of Holders. Except as provided below in this Section 9.2, the Company, the Guarantors and the Trustee, if applicable, may amend or supplement any Note Document with the consent of the Holders of at
least a majority in aggregate principal amount of the Notes then outstanding and issued under this Indenture, including, without limitation, consents obtained in connection with a purchase of, or tender offer or exchange offer for, Notes, and,
subject to Sections 6.4 and 6.7, any existing Default or Event of Default (other than a Default or Event of Default in the payment of the principal of, premium, if any, or interest on the Notes, except a payment
default resulting from an acceleration that has been rescinded) or compliance with any provision of this Indenture, the Notes and the Guarantees may be waived with the consent of the Holders of a majority in aggregate principal amount of the then
outstanding Notes issued under this Indenture (including consents obtained in connection with a purchase of or tender offer or exchange offer for Notes). Section 2.12 and Section 12.4 shall
determine which Notes are considered to be “outstanding” for the purposes of this Section 9.2. 
 Upon
the request of the Company accompanied by a resolution of its Board of Directors authorizing the execution of any such amended or supplemental indenture, and upon the filing with the Trustee of evidence of the consent of the Holders of Notes as
aforesaid, and upon receipt by the Trustee of the documents described in Sections 9.6 and 12.2, the Trustee will join with the Company and the Guarantors in the execution of such amended or supplemental indenture
unless such amended or supplemental indenture affects the Trustee’s own rights, duties, liabilities or immunities under this Indenture or otherwise, in which case the Trustee may in its discretion, but will not be obligated to, enter into such
amended or supplemental indenture. 
 Without the consent of each Holder of Notes affected, an amendment, supplement or waiver may not, with
respect to any Notes issued thereunder and held by a nonconsenting Holder: 
 (1) reduce the principal amount of such Notes
whose Holders must consent to an amendment; 
 (2) reduce the stated rate of or extend the stated time for payment of
interest on any such Note (other than provisions relating to Section 3.5 and Section 3.9); 

(3) reduce the principal of or extend the Stated Maturity of any such Note (other than provisions relating to
Section 3.5 and Section 3.9); 
 (4) reduce the premium payable upon the
redemption of any such Note or change the time at which any such Note may be redeemed, in each case as set forth in Section 5.7; 

(5) make any such Note payable in currency other than that stated in such Note; 

(6) impair the contractual right of any Holder to receive payment of and interest on such Holder’s Notes on or after the
due dates therefor or to institute suit for the enforcement of any such payment on or with respect to such Holder’s Notes (and, for the avoidance of doubt, the amendment, supplement or modification in accordance with the terms of this Indenture
of Articles III and IV and Sections 6.1(a)(3), (4), (5) and (6) and the related definitions shall be deemed not to impair the contractual right of any Holder to receive payment of principal of and
interest on such Holder’s Notes on or after the due dates therefor or to institute suit for the enforcement of any such payment on or with respect to such Holder’s Note); 

  
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 (7) waive a Default or Event of Default with respect to the nonpayment of
principal, premium or interest (except pursuant to a rescission of acceleration of the Notes by the Holders of at least a majority in aggregate principal amount of such Notes and a waiver of the payment default that resulted from such acceleration);

 (8) make any change in the amendment or waiver provisions which require the Holders’ consent described in this
Section 9.2; or 
 (9) except as expressly permitted by this Indenture, modify the Note Guarantees
of any Significant Subsidiary in any manner materially adverse to the Holders. 
 It shall not be necessary for the consent of the Holders
under this Indenture to approve the particular form of any proposed amendment, supplement or waiver of any Note Document, but it shall be sufficient if such consent approves the substance thereof. A consent to any amendment, supplement or waiver
under this Indenture by any Holder of the Notes given in connection with a tender or exchange of such Holder’s Notes will not be rendered invalid by such tender or exchange. 

After an amendment or supplement under this Section 9.2 becomes effective, the Company shall mail to Holders a
notice briefly describing such amendment or supplement. The failure to give such notice to all Holders, or any defect therein, shall not impair or affect the validity of an amendment or supplement. 

SECTION 9.3. Compliance with this Indenture. Every amendment or supplement to this Indenture, any Guarantee and the Notes will
be set forth in an amended or supplemental indenture that complies with this Indenture as then in effect. 
 SECTION 9.4. Revocation and
Effect of Consents and Waivers. Until an amendment, supplement or waiver becomes effective, a consent to it by a Holder of a Note is a continuing consent by the Holder of a Note 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 or waiver is not made on any Note. However, any such Holder of a Note or subsequent Holder of a Note may revoke the consent or waiver as to such
Holder’s Note or portion of its Note if the Trustee receives written notice of revocation before the date the amendment, supplement or waiver becomes effective. An amendment, supplement or waiver becomes effective in accordance with its terms
and thereafter binds every Holder. 
 The Company may, but shall not be obligated to, fix a record date for the purpose of determining the
Holders entitled to give their consent or take any other action described above or required or permitted to be taken pursuant to this Indenture. If a record date is fixed, then notwithstanding 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 give such consent or to revoke any consent previously given or to take any such action, whether or not such Persons continue to be
Holders after such record date. No such consent shall be valid or effective for more than 120 days after such record date. 
 SECTION 9.5.
Notation on or Exchange of Notes. The Trustee may place an appropriate notation about an amendment, supplement or waiver on any Note thereafter authenticated. The Company in exchange for all Notes may issue and the Trustee shall, upon receipt
of a Company Order, authenticate new Notes that reflect the amendment, supplement or waiver. 
 Failure to make the appropriate notation or
issue a new Note will not affect the validity and effect of such amendment, supplement or waiver. 

  
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 SECTION 9.6. Trustee to Sign Amendments. The Trustee shall sign any amendment or
supplement authorized pursuant to this Article IX if the amendment or supplement does not adversely affect the rights, duties, liabilities or immunities of the Trustee. The Company may not sign an amendment or supplement
until the Board of Directors of the Company approves it. In executing any amendment or supplement, the Trustee will be entitled to receive and (subject to Sections 7.1 and 7.2) shall be fully protected in
conclusively relying upon, in addition to the documents required by Section 12.2, an Officer’s Certificate and an Opinion of Counsel stating that the execution of such amendment or supplement is authorized or permitted
by this Indenture and is valid, binding and enforceable against the Company in accordance with its terms. 
 ARTICLE X 

GUARANTEE 
 SECTION 10.1.
Guarantee. Subject to the provisions of this Article X, each Guarantor hereby fully, unconditionally and irrevocably guarantees (the “Note Guarantees”), as primary obligor and not merely as surety,
jointly and severally with each other Guarantor, to each Holder of the Notes, and the Trustee the full and punctual payment when due, whether at maturity, by acceleration, by redemption or otherwise, of the principal of, premium, if any, and
interest on the Notes and all other obligations and liabilities of the Company under this Indenture (including without limitation interest accruing after the filing of any petition in bankruptcy, or the commencement of any insolvency, reorganization
or like proceeding, relating to the Company or any Guarantor whether or not a claim for post-filing or post-petition interest is allowed in such proceeding and the
obligations under Section 7.7), (all the foregoing being hereinafter collectively called the “Guaranteed Obligations”). Each Guarantor agrees that the Guaranteed Obligations will rank equally in right of
payment with other Indebtedness of such Guarantor, except to the extent such other Indebtedness is subordinate to the Guaranteed Obligations, in which case the obligations of the Guarantors under the Note Guarantees will rank senior in right of
payment to such other Indebtedness. 
 To evidence its Note Guarantee set forth in this Section 10.1, each
Guarantor hereby agrees that this Indenture shall be executed on behalf of such Guarantor by an Officer of such Guarantor. 
 Each Guarantor
hereby agrees that its Note Guarantee set forth in this Section 10.1 shall remain in full force and effect notwithstanding the absence of the endorsement of any notation of such Note Guarantee. 

If an Officer whose signature is on this Indenture no longer holds that office at the time the Trustee authenticates the Note, the Note
Guarantee shall be valid nevertheless. 
 Each Guarantor further agrees (to the extent permitted by law) that the Guaranteed Obligations may
be extended or renewed, in whole or in part, without notice or further assent from it, and that it will remain bound under this Article X notwithstanding any extension or renewal of any Guaranteed Obligation. 

Each Guarantor waives presentation to, demand of payment from and protest to the issuer of any of the Guaranteed Obligations and also waives
notice of protest for nonpayment. Each Guarantor waives notice of any default under the Notes or the Guaranteed Obligations. 
 Each
Guarantor further agrees that its Note Guarantee herein constitutes a Guarantee of payment when due (and not a Guarantee of collection) and waives any right to require that any resort be had by any Holder to any security held for payment of the
Guaranteed Obligations. 
 Except as set forth in Section 10.2, the obligations of each Guarantor hereunder shall
not be subject to any reduction, limitation, impairment or termination for any reason (other than payment of the Guaranteed Obligations in full), including any claim of waiver, release, surrender, alteration or compromise, and shall not be subject
to any defense of setoff, counterclaim, recoupment or termination whatsoever or by reason of the invalidity, illegality or unenforceability of the Guaranteed Obligations or otherwise. Without limiting the generality of the foregoing, the Guaranteed
Obligations of each Guarantor herein shall not be discharged or impaired or otherwise affected by (a) the failure of any Holder to assert any claim or demand or to enforce any right or remedy against the Company or any other person under this
Indenture, the Notes or any other agreement or otherwise; (b) any extension or renewal of any thereof; (c) any rescission, waiver, amendment or modification of any of the terms or provisions of this Indenture, the Notes or any other
agreement; (d) the release of any security held by any Holder for the Guaranteed Obligations; 

  
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(e) the failure of any Holder to exercise any right or remedy against any other Guarantor; (f) any change in the ownership of the Company; (g) any default, failure or delay,
willful or otherwise, in the performance of the Guaranteed Obligations; or (h) any other act or thing or omission or delay to do any other act or thing which may or might in any manner or to any extent vary the risk of any Guarantor or would
otherwise operate as a discharge of such Guarantor as a matter of law or equity. 
 Each Guarantor agrees that its Note Guarantee herein
shall remain in full force and effect until payment in full of all the Guaranteed Obligations or such Guarantor is released from its Guarantee in compliance with Section 10.2, Article VIII or
Article XI. Each Guarantor further agrees that its Note Guarantee herein shall continue to be effective or be reinstated, as the case may be, if at any time payment, or any part thereof, of principal of, premium, if any,
interest on any of the Guaranteed Obligations is rescinded or must otherwise be restored by any Holder upon the bankruptcy or reorganization of the Company or otherwise. 

In furtherance of the foregoing and not in limitation of any other right which any Holder has at law or in equity against any Guarantor by
virtue hereof, upon the failure of the Company to pay any of the Guaranteed Obligations when and as the same shall become due, whether at maturity, by acceleration, by redemption or otherwise, each Guarantor hereby promises to and will, upon receipt
of written demand by the Trustee, forthwith pay, or cause to be paid, in cash, to the Holders or the Trustee on behalf of the Holders an amount equal to the sum of (i) the unpaid amount of such Guaranteed Obligations then due and owing and
(ii) accrued and unpaid interest on such Guaranteed Obligations then due and owing (but only to the extent not prohibited by law) (including interest accruing after the filing of any petition in bankruptcy or the commencement of any insolvency,
reorganization or like proceeding relating to the Company or any Guarantor whether or not a claim for post-filing or post-petition interest is allowed in such
proceeding). 
 Each Guarantor further agrees that, as between such Guarantor, on the one hand, and the Holders, on the other hand,
(x) the maturity of the Guaranteed Obligations guaranteed hereby may be accelerated as provided in this Indenture for the purposes of its Note Guarantee herein and (y) in the event of any such declaration of acceleration of such Guaranteed
Obligations, such Guaranteed Obligations (whether or not due and payable) shall forthwith become due and payable by the Guarantor for the purposes of this Note Guarantee. 

Each Guarantor also agrees to pay any and all fees, costs and expenses (including attorneys’ fees and expenses) incurred by the Trustee
or the Holders in enforcing any rights under this Section 10.1. 
 SECTION 10.2. Limitation on Liability;
Termination, Release and Discharge. 
 (a) Any term or provision of this Indenture to the contrary notwithstanding, the obligations of
each Guarantor hereunder will be limited to the maximum amount as will, after giving effect to all other contingent and fixed liabilities of such Guarantor and after giving effect to any collections from or payments made by or on behalf of any other
Guarantor in respect of the obligations of such other Guarantor under its Note Guarantee or pursuant to its contribution obligations under this Indenture, result in the obligations of such Guarantor under its Note Guarantee not constituting a
fraudulent conveyance or fraudulent transfer under federal, foreign, state or provincial law and not otherwise being void or voidable under any similar laws affecting the rights of creditors generally. 

(b) Any Note Guarantee of a Guarantor shall be automatically and unconditionally released and discharged upon: 

(1) a sale, exchange, transfer or other disposition (including by way of merger, amalgamation, consolidation, dividend,
distribution or otherwise) of the Capital Stock of such Guarantor or the sale, exchange, transfer or other disposition, of all or substantially all of the assets of the Guarantor to a Person other than to the Company or a Restricted Subsidiary and
as otherwise not prohibited by this Indenture; 
 (2) the designation in accordance with this Indenture of the Guarantor as
an Unrestricted Subsidiary or the occurrence of any event after which the Guarantor is no longer a Restricted Subsidiary; 

(3) defeasance or discharge of the Notes pursuant to Article VIII or
Article XI; 

  
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 (4) to the extent that such Guarantor is not an Immaterial Subsidiary solely
due to the operation of clause (i) of the definition of “Immaterial Subsidiary,” upon the release of the guarantee referred to in such clause; 

(5) such Guarantor being (or being substantially concurrently) released or discharged from all of its Note Guarantees of
payment (i) by the Company of any Indebtedness of the Company under the ABL or (ii) in the case of a Note Guarantee made by a Guarantor (each, an “Other Guarantee”) as a result of its guarantee of other Indebtedness of the
Company or a Guarantor pursuant to Section 3.7, by the Company or the applicable Guarantor of the relevant Indebtedness, except in the case of (i) or (ii), a release as a result of payment under such Guarantee (it
being understood that a release subject to a contingent reinstatement is still considered a release, and if any such Guarantee of such Guarantor under the ABL or any Other Guarantee is so reinstated, such Note Guarantee shall also be reinstated);
and 
 (6) upon the merger, amalgamation or consolidation of any Guarantor with and into the Company or another Guarantor or
upon the liquidation of such Guarantor, in each case, in compliance with the applicable provisions of this Indenture; 
 (7)
upon the achievement of Investment Grade Status by the Notes; provided that such Note Guarantee shall be reinstated upon the Reversion Date; and 

(8) as described under Article IX. 

SECTION 10.3. Right of Contribution. Each Guarantor hereby agrees that to the extent that any Guarantor shall have paid more than its
proportionate share of any payment made on the obligations under the Note Guarantees, such Guarantor shall be entitled to seek and receive contribution from and against the Company or any other Guarantor who has not paid its proportionate share of
such payment. The provisions of this Section 10.3 shall in no respect limit the obligations and liabilities of each Guarantor to the Trustee and the Holders and each Guarantor shall remain liable to the Trustee and the
Holders for the full amount guaranteed by such Guarantor hereunder. 
 SECTION 10.4. No Subrogation. Notwithstanding any payment or
payments made by each Guarantor hereunder, no Guarantor shall be entitled to be subrogated to any of the rights of the Trustee or any Holder against the Company or any other Guarantor or any collateral security or guarantee or right of offset held
by the Trustee or any Holder for the payment of the Guaranteed Obligations, nor shall any Guarantor seek or be entitled to seek any contribution or reimbursement from the Company or any other Guarantor in respect of payments made by such Guarantor
hereunder, until all amounts owing to the Trustee and the Holders by the Company on account of the Guaranteed Obligations are paid in full. If any amount shall be paid to any Guarantor on account of such subrogation rights at any time when all of
the Guaranteed Obligations shall not have been paid in full, such amount shall be held by such Guarantor in trust for the Trustee and the Holders, segregated from other funds of such Guarantor, and shall, forthwith upon receipt by such Guarantor, be
turned over to the Trustee in the exact form received by such Guarantor (duly indorsed by such Guarantor to the Trustee, if required), to be applied against the Guaranteed Obligations. 

ARTICLE XI 
 SATISFACTION AND
DISCHARGE 
 SECTION 11.1. Satisfaction and Discharge. This Indenture will be discharged and will cease to be of further effect
as to all Notes issued hereunder, when: 
 (a) either: 

(1) all Notes that have been authenticated and delivered, except lost, stolen or destroyed Notes that have been replaced or
paid and Notes for whose payment money has theretofore been deposited in trust, have been delivered to the Trustee for cancellation; or 

  
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 (2) all such Notes not theretofore delivered to the Trustee for cancellation
(i) have become due and payable by reason of the making of a notice of redemption or otherwise or (ii) will become due and payable within one year at their Stated Maturity or (iii) are to be called for redemption within one year under
arrangements satisfactory to the Trustee for the giving of notice of redemption by the Trustee, in the name, and at the expense of the Company; 

(b) the Company has irrevocably deposited or caused to be deposited with the Trustee as trust funds in trust solely for the benefit of the
Holders, cash in U.S. dollars, U.S. Government Obligations, or a combination thereof, in such amounts as will be sufficient, without consideration of any reinvestment of interest, to pay and discharge the entire Indebtedness on such Notes
not previously delivered to the Trustee for cancellation, for principal, premium, if any, and interest to the date of deposit (in the case of Notes that have become due and payable), or to the Stated Maturity or Redemption Date, as the case may be;
provided that upon any redemption that requires the payment of the Applicable Premium, the amount deposited shall be sufficient for purposes of this Indenture 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, as calculated by the Company or on behalf of the Company by such Person as the Company shall designate, with any Applicable Premium Deficit only required to be deposited with the Trustee
on or prior to the Redemption Date, and any Applicable Premium Deficit shall be set forth in an Officer’s Certificate delivered to the Trustee at least two Business Days prior to the Redemption Date that confirms that such Applicable Premium
Deficit shall be applied toward such redemption; 
 (c) no Default or Event of Default (other than that resulting from borrowing funds to be
applied to make such deposit and the granting of Liens in connection therewith) with respect to this Indenture or the Notes issued hereunder shall have occurred and be continuing on the date of such deposit or shall occur as a result of such deposit
and such deposit will not result in a breach or violation of, or constitute a default under the Credit Facilities or any other material agreement or instrument (other than this Indenture) to which the Company or any Guarantor is a party or by which
the Company or any Guarantor is bound; 
 (d) the Company or any Guarantor has paid or caused to be paid all sums payable by the Company
under this Indenture; and 
 (e) the Company has delivered irrevocable instructions to the Trustee to apply the deposited money in U.S.
dollars toward the payment of such Notes issued hereunder at maturity or the Redemption Date, as the case may be. 
 In addition, the
Company shall deliver an Officer’s Certificate and an Opinion of Counsel to the Trustee stating that all conditions precedent to satisfaction and discharge have been satisfied. 

Notwithstanding the satisfaction and discharge of this Indenture, the Company’s obligation to the Trustee in
Section 7.7 and, if money in U.S. dollars has been deposited with the Trustee pursuant to clause (a)(2) of this Section 11.1, the provisions of Sections 11.2 and
8.6 will survive. 
 SECTION 11.2. Application of Trust Money. Subject to the provisions of
Section 8.6, all money in U.S. dollars or U.S. Government Obligations deposited with the Trustee pursuant to Section 11.1 shall be held in trust and applied by it, in accordance with the provisions
of the Notes and this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as its own Paying Agent) as the Trustee may determine, to the Persons entitled thereto, of the principal (and premium) and
interest for whose payment such money in U.S. dollars or U.S. Government Obligations has been deposited with the Trustee; but such money in U.S. dollars or U.S. Government Obligations need not be segregated from other funds except to the extent
required by law. 
 If the Trustee or Paying Agent is unable to apply any money or U.S. Government Obligations in accordance with
Section 11.1 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, the Company’s and any
Guarantor’s obligations under this Indenture and the Notes shall be revived and reinstated as though no deposit had occurred pursuant to Section 11.1; provided that if the Company has made any payment of
principal of, premium or interest on, any Notes because of the reinstatement of its obligations, the Company shall be subrogated to the rights of the Holders of such Notes to receive such payment from the money or U.S. Government Obligations held by
the Trustee or Paying Agent. 

  
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 ARTICLE XII 

MISCELLANEOUS 
 SECTION
12.1. Notices. Any notice, request, direction, consent or communication made pursuant to the provisions of this Indenture or the Notes shall be in writing and delivered in person, sent by facsimile, sent by electronic mail in pdf format,
delivered by commercial courier service or mailed by first-class mail, postage prepaid, addressed as follows: 

if to the Company or to any Guarantor: 

Builders FirstSource, Inc. 
 2001
Bryan Street, Suite 1600 
 Dallas, Texas 75201 

Attention: Timothy D. Johnson, Esq. 

Facsimile: (919) 431-1199 

with a copy to: 

Kirkland & Ellis LLP 

601 Lexington Ave 
 New York, New
York 10022 
 Attention: Joshua Korff, P.C. 

Facsimile: (212) 446-4900 

if to the Trustee, at its corporate trust office, which corporate trust office for purposes of this Indenture is at the date hereof located at:

 Wilmington Trust, National Association 

1100 North Market Street 

Wilmington, Delaware 19890 

Attention: Builders FirstSource, Inc. Administrator 

Facsimile: (302) 636-4145 

The Company or the Trustee, by written notice to the other, may designate additional or different addresses for subsequent notices or
communications. 
 Any notice or communication to the Company or the Guarantors shall be deemed to have been given or made as of the date so
delivered if personally delivered or if delivered electronically, in pdf format; when receipt is acknowledged, if telecopied; and seven 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). Any notice or communication to the Trustee shall be deemed delivered upon receipt. 

Any notice or communication sent to a Holder shall be mailed to the Holder at the Holder’s address as it appears in the Notes Register
and shall be sufficiently given if so sent 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 sent in the manner provided above, it is duly given, whether or not the addressee receives it, except that notices to the Trustee shall be
effective only upon receipt. 

  
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 Notwithstanding any other provision of this Indenture or any Note, where this Indenture or
any Note provides for notice of any event (including any notice of redemption or purchase) to a Holder of a Global Note (whether by mail or otherwise), such notice shall be sufficiently given if given to DTC (or its designee) pursuant to the
standing instructions from DTC or its designee. 
 SECTION 12.2. Certificate and Opinion as to Conditions Precedent. Upon any request
or application by the Company or any of the Guarantors to the Trustee to take or refrain from taking any action under this Indenture, the Company or such Guarantor, as the case may be, shall furnish to the Trustee: 

(1) an Officer’s Certificate in form satisfactory to the Trustee (which shall include the statements set forth in
Section 12.3) stating that, in the opinion of the signers, all conditions precedent, if any, provided for in this Indenture relating to the proposed action have been satisfied; and 

(2) an Opinion of Counsel in form satisfactory to the Trustee (which shall include the statements set forth in
Section 12.3) stating that, in the opinion of such counsel, all such conditions precedent have been satisfied and all covenants have been complied with. 

SECTION 12.3. Statements Required in Certificate or Opinion. Each certificate or opinion with respect to compliance with a covenant or
condition provided for in this Indenture: 
 (1) a statement that the individual 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 individual, 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; and 

(4) a statement as to whether or not, in the opinion of such individual, such covenant or condition has been complied with.

 In giving such Opinion of Counsel, counsel may rely as to factual matters on an Officer’s Certificate or on certificates of public
officials. 
 SECTION 12.4. When Notes Disregarded. In determining whether the Holders of the required aggregate principal amount of
Notes have concurred in any direction, waiver or consent, Notes owned by the Company, any Guarantor or any Affiliate of them shall be disregarded and deemed not to be outstanding, except that, for the purpose of determining whether the Trustee shall
be protected in relying on any such direction, waiver or consent, only Notes which a Trust Officer of the Trustee actually knows are so owned shall be so disregarded. Also, subject to the foregoing, only Notes outstanding at the time shall be
considered in any such determination. 
 SECTION 12.5. Rules by Trustee, Paying Agent and Registrar. The Trustee may make reasonable
rules for action by, or at meetings of, Holders. The Registrar and the Paying Agent may make reasonable rules for their functions. 

SECTION 12.6. Legal Holidays. A “Legal Holiday” is a Saturday, a Sunday or other day on which commercial banking
institutions are authorized or required to be closed in New York, New York or the state of the place of payment. If a payment date is a Legal Holiday, payment shall be made on the next succeeding day that is not a Legal Holiday, and no interest
shall accrue for the intervening period. If a regular record date is a Legal Holiday, the record date shall not be affected. 

  
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 SECTION 12.7. Governing Law. THIS INDENTURE, THE NOTES, THE NOTE GUARANTEES AND THE
RIGHTS AND DUTIES OF THE PARTIES THEREUNDER SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 

SECTION 12.8. Jurisdiction. The Company and the Guarantors agree that any suit, action or proceeding against the Company or any
Guarantor brought by any Holder or the Trustee arising out of or based upon this Indenture, the Note Guarantee or the Notes may be instituted in any state or Federal court in the Borough of Manhattan, New York, New York, and any appellate court from
any thereof, and each of them irrevocably submits to the non-exclusive jurisdiction of such courts in any suit, action or proceeding. The Company and the Guarantors irrevocably waive, to the fullest extent
permitted by law, any objection to any suit, action, or proceeding that may be brought in connection with this Indenture, the Note Guarantee or the Notes, including such actions, suits or proceedings relating to securities laws of the United States
of America or any state thereof, in such courts whether on the grounds of venue, residence or domicile or on the ground that any such suit, action or proceeding has been brought in an inconvenient forum. The Company and the Guarantors agree that
final judgment in any such suit, action or proceeding brought in such court shall be conclusive and binding upon the Company or the Guarantors, as the case may be, and may be enforced in any court to the jurisdiction of which the Company or the
Guarantors, as the case may be, are subject by a suit upon such judgment. 
 SECTION 12.9. Waivers of Jury Trial. EACH OF
THE COMPANY, THE GUARANTORS AND THE TRUSTEE, AND EACH HOLDER BY ITS ACCEPTANCE OF A NOTE, HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL ACTION OR
PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE NOTES OR THE NOTE GUARANTEES AND FOR ANY COUNTERCLAIM THEREIN. 
 SECTION
12.10. USA PATRIOT Act. The parties hereto acknowledge that in accordance with Section 326 of the USA PATRIOT Act, the Trustee, like all financial institutions and in order to help fight the funding of terrorism and money laundering, is
required to obtain, verify, and record information that identifies each person or legal entity that establishes a relationship or opens an account. The parties to this Indenture agree that they will provide the Trustee with such information as it
may request in order to satisfy the requirements of the USA PATRIOT Act. 
 SECTION 12.11. No Recourse Against Others. No director,
officer, employee, incorporator or shareholder of the Company or any of its respective Subsidiaries or Affiliates, as such (other than the Company and the Guarantors), shall have any liability for any obligations of the Company or the Guarantors
under the Note Documents or for any claim based on, in respect of, or by reason of such obligations or their creation. Each Holder by accepting a Note waives and releases all such liability. The waiver and release are part of the consideration for
issuance of the Notes. Such waiver may not be effective to waive liabilities under the U.S. federal securities laws and it is the view of the SEC that such a waiver is against public policy. 

SECTION 12.12. Successors. All agreements of the Company and each Guarantor in this Indenture and the Notes shall bind their respective
successors. All agreements of the Trustee in this Indenture shall bind its successors. 
 SECTION 12.13. Multiple Originals. The
parties may sign any number of copies of this Indenture. Each signed copy shall be an original, but all of them together represent the same agreement. The exchange of copies of this Indenture and of signature pages by facsimile or PDF
transmission shall constitute effective execution and delivery of this Indenture as to the parties hereto and may be used in lieu of the original Indenture for all purposes. Signatures of the parties hereto transmitted by facsimile or PDF shall be
deemed to be their original signatures for all purposes. 
 SECTION 12.14. Table of Contents; Headings. The table of contents, cross-reference table and headings of the Articles and Sections of this Indenture have been inserted for convenience of reference only, are not intended to be considered a part hereof and shall not modify or
restrict any of the terms or provisions hereof. 

  
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 SECTION 12.15. Force Majeure. In no event shall the Trustee be responsible or liable
for any failure or delay in the performance of its obligations hereunder arising out of or caused by, directly or indirectly, forces beyond its control, including, without limitation, strikes, work stoppages, accidents, acts of war or terrorism,
civil or military disturbances, nuclear or natural catastrophes or acts of God, epidemics, pandemics and interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services or the unavailability of the
Federal Reserve Bank wire or telex or other wire or communication facility, it being understood that the Trustee shall use reasonable best efforts which are consistent with accepted practices in the banking industry to resume performance as soon as
practicable under the circumstances. 
 SECTION 12.16. Severability. In case any provision in this Indenture or in the Notes shall be
invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 

[Signatures on following pages] 

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

			
	BUILDERS FIRSTSOURCE, INC.
		
	By:	 	 /s/ Timothy D. Johnson

	Name:	 	Timothy D. Johnson
	Title:	 	Executive Vice President, General Counsel
		 	and Corporate Secretary
	
	ON BEHALF OF EACH OF THE GUARANTORS LISTED ON SCHEDULE I HERETO
		
	By:	 	 /s/ Timothy D. Johnson

	Name:	 	Timothy D. Johnson
	Title:	 	Executive Vice President, General Counsel and Corporate Secretary

 [Signature Page to the Indenture] 

 
			
	WILMINGTON TRUST, NATIONAL ASSOCIATION,
	as Trustee
		
	By:	 	 /s/ Arlene Thelwell

	Name:	 	Arlene Thelwell
	Title:	 	Vice President

 [Signature Page to the Indenture] 

 SCHEDULE I 

Guarantors 
  

	 	1.	 Builders FirstSource—Dallas, LLC, a Delaware limited liability company 

	 	2.	 BFS Group LLC, a Delaware limited liability company 

	 	3.	 BFS Real Estate LLC, a Delaware limited liability company 

	 	4.	 Spenard Builders Supply LLC, an Alaska limited liability company 

	 	5.	 BFS Design Services LLC, a Delaware limited liability company 

	 	6.	 BFS Operations LLC, a Delaware limited liability company 

	 	7.	 BFS Texas Sales LLC, a Delaware limited liability company 

	 	8.	 BFS Procurement LLC, a Delaware limited liability company 

	 	9.	 BFS Asset Holdings LLC, a Delaware limited liability company 

	 	10.	 Builders FirstSource—Texas Installed Sales, LLC, a Texas limited liability company 

	 	11.	 Timber Roots, LLC, a Washington limited liability company 

	 	12.	 CCWP, Inc., a South Carolina statutory close corporation 

	 	13.	 WTS Paradigm, LLC, a Wisconsin limited liability company 

 EXHIBIT A 

[FORM OF FACE OF GLOBAL RESTRICTED NOTE] 

[Applicable Restricted Notes Legend] 

[Depository Legend, if applicable] 

[OID Legend, if applicable] 
  

			
	No. [___]	  	 Principal Amount $[___________] [as revised by the Schedule of Increases and Decreases in Global Note attached hereto]1
 CUSIP NO. _________________________

 BUILDERS FIRSTSOURCE, INC. 

6.375% Senior Notes due 2032 

Builders FirstSource, Inc., a Delaware corporation (“Company”), promises to pay to [Cede & Co.],2 or its registered assigns, the principal sum of _______________ Dollars, [as revised by the Schedule of Increases and Decreases in Global Note attached hereto],3 on June 15, 2032. 
 Interest Payment Dates: June 15 and December 15,
commencing on December 15, 2022 
 Record Dates: June 1 and December 1 

Additional provisions of this Note are set forth on the other side of this Note. 

 

	1 	 Insert in Global Notes only. 

	2 	 Insert in Global Notes only. 

	3 	 Insert in Global Notes only. 

  
 A-1 

 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed. 

 

			
	BUILDERS FIRSTSOURCE, INC.
		
	By:	 	  

		 	Name:
		 	Title:

  
 A-2 

 TRUSTEE CERTIFICATE OF AUTHENTICATION 

This Note is one of the 6.375% Senior Notes due 2032 referred to in the within-mentioned Indenture.

  

			
	WILMINGTON TRUST, NATIONAL ASSOCIATION, as Trustee
		
	By:	 	  

		 	Authorized Signatory

 Dated:
                                 

  
 A-3 

 [FORM OF REVERSE SIDE OF NOTE] 

BUILDERS FIRSTSOURCE, INC. 
 6.375%
Senior Notes due 2032 
 Capitalized terms used herein and not defined herein have the meanings ascribed thereto in the Indenture. 

1. Interest 
 The Company promises to pay
interest on the principal amount of this Note at 6.375% per annum from June 15, 2022 until maturity. The Company will pay interest semi-annually in arrears every June 15 and December 15 of each year, or if any such day is not a
Business Day, on the next succeeding Business Day (each, an “Interest Payment Date”). Interest on the Notes shall accrue from the most recent date to which interest has been paid or, if no interest has been paid, from the date of
issuance; provided, that the first Interest Payment Date shall be December 15, 2022. The Company shall pay interest on overdue principal at the rate specified herein, and 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 period) at the same rate to the extent lawful. Interest on the Notes
will be computed on the basis of a 360-day year comprised of twelve 30-day months. 

2. Method of Payment 
 By no later than
12:00 p.m. (Eastern time) on the date on which any principal of, premium, if any, or interest, on any Note is due and payable, the Company shall deposit with the Paying Agent a sum sufficient in immediately available funds to pay such
principal, premium, interest when due. Interest on any Note which is payable, and is timely paid or duly provided for, on any Interest Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered
at the close of business on the preceding June 1 and December 1 at the office or agency of the Company maintained for such purpose pursuant to Section 2.3 of the Indenture. The principal of (and premium, if any)
and interest on the Notes shall be payable at the office or agency of Paying Agent or Registrar designated by the Company maintained for such purpose (which shall initially be the office of the Trustee maintained for such purpose), or at such other
office or agency of the Company as may be maintained for such purpose pursuant to Section 2.3 of the Indenture; provided, however, that, at the option of the Paying Agent, each installment of interest may be
paid by (i) check mailed to addresses of the Persons entitled thereto as such addresses shall appear on the Notes Register or (ii) wire transfer to an account located in the United States maintained by the payee, subject to the last
sentence of this paragraph. Payments in respect of Notes represented by a Global Note (including principal, premium, if any, and interest) will be made by wire transfer of immediately available funds to the accounts specified by The Depository Trust
Company or any successor depository. Payments in respect of Notes represented by Definitive Notes (including principal, premium, if any, and interest) held by a Holder of at least $1,000,000 aggregate principal amount of Notes represented by
Definitive Notes will be made in accordance with the Notes Register, or by wire transfer to a U.S. dollar account maintained by the payee with a bank in the United States if such Holder elects payment by wire transfer by giving written notice to the
Trustee or the Paying Agent to such effect designating such account no later than 15 days immediately preceding the relevant due date for payment (or such other date as the Trustee may accept in its discretion). If an Interest Payment Date is a
Legal Holiday, payment shall be made on the next succeeding day that is not a Legal Holiday, and no interest shall accrue for the intervening period. If a regular record date is a Legal Holiday, the record date shall not be affected. 

3. Paying Agent and Registrar 
 The
Company initially appoints Wilmington Trust, National Association (the “Trustee”) as Registrar and Paying Agent for the Notes. The Company may change any Registrar or Paying Agent without prior notice to the Holders. The Company or
any Guarantor may act as Paying Agent, Registrar or transfer agent. 

  
 A-4 

 4. Indenture 

The Company issued the Notes under an Indenture dated as of June 15, 2022 (as it may be amended or supplemented from time to time in
accordance with the terms thereof, the “Indenture”), among the Company, the guarantors named therein and the Trustee. The terms of the Notes include those stated in the Indenture. The Notes are subject to all terms and provisions of
the Indenture, and Holders are referred to the Indenture for a statement of those terms. In the event of a conflict between the terms of the Notes and the terms of the Indenture, the terms of the Indenture shall control. 

The Notes are senior unsecured obligations of the Company. The aggregate principal amount of Notes that may be authenticated and delivered
under the Indenture is unlimited. This Note is one of the 6.375% Senior Notes due 2032 referred to in the Indenture. The Notes include (i) $700,000,000 principal amount of the Company’s 6.375% Senior Notes due 2032 issued under the
Indenture on June 15, 2022 (the “Initial Notes”) and (ii) if and when issued, additional Notes that may be issued from time to time under the Indenture subsequent to June 15, 2022 (the “Additional
Notes”) as provided in Section 2.1(a) of the Indenture. The Initial Notes and the Additional Notes shall be considered collectively as a single class for all purposes of the Indenture; provided that the
Additional Notes will not be issued with the same CUSIP as the existing Notes unless such Additional Notes are fungible with the existing Notes for U.S. federal income tax purposes. The Indenture imposes certain limitations on the incurrence of
indebtedness, the making of restricted payments, the sale of assets, the incurrence of certain liens, the making of payments for consents, the entering into of agreements that restrict distribution from restricted subsidiaries and the consummation
of mergers and consolidations. The Indenture also imposes requirements with respect to the provision of financial information and the provision of guarantees of the Notes by certain subsidiaries. 

5. [Reserved] 
 6. Guarantees 

To guarantee the due and punctual payment of the principal, premium, if any, interest (including
post-filing or post-petition interest in any proceeding under Bankruptcy Law) on the Notes and all other amounts payable by the Company under the Indenture and the Notes
when and as the same shall be due and payable, whether at maturity, by acceleration or otherwise, according to the terms of the Notes and the Indenture, the Guarantor will unconditionally guarantee (and future guarantors, jointly and severally with
the Guarantor, will fully and unconditionally guarantee) such obligations on a senior basis pursuant to the terms of the Indenture. 
 7. Redemption

 (a) At any time prior to June 15, 2027, the Company may redeem the Notes in whole or in part, at its option, upon not less than 10
nor more than 60 days’ prior notice, with a copy to the Trustee, to each Holder of Notes to the address of such Holder appearing in the Notes Register, at a redemption price (expressed as percentages of principal amount of the Notes to be
redeemed) equal to 100.000% of the principal amount of Notes redeemed plus the relevant Applicable Premium as of, and accrued and unpaid interest, if any, to, but excluding, the date of redemption (the “Redemption Date”), subject to
the rights of Holders of the Notes on the relevant record date to receive interest due on the relevant interest payment date. 
 (b) At any
time and from time to time prior to June 15, 2025, the Company may, on one or more occasions, upon not less than 10 nor more than 60 days’ prior notice, with a copy to the Trustee, to each Holder of Notes to the address of such Holder
appearing in the Notes Register, redeem up to 40.0% of the original aggregate principal amount of Notes issued under this Indenture at a redemption price (expressed as percentages of principal amount of the Notes to be redeemed) equal to 106.375% of
the aggregate principal amount thereof, plus accrued and unpaid interest thereon, if any, to, but excluding, the applicable Redemption Date, subject to the right of Holders of record of the Notes on the relevant record date to receive interest
due on the relevant interest payment date, with the net cash proceeds received by the Company of one or more Equity Offerings of the Company; provided that not less than 40.0% of the original aggregate principal amount of Notes initially
issued under the Indenture remains outstanding immediately after the occurrence of each such redemption (excluding Notes held by the Company or any of its Restricted Subsidiaries) unless all such Notes are redeemed substantially concurrently;
provided, further, that each such redemption occurs not later than 180 days after the date of closing of the related Equity Offering. The Trustee shall select the Notes to be purchased in the manner described under
Sections 5.1 through 5.6 of the Indenture. 
 (c) Except pursuant to clauses (a) and (b) of this
paragraph 7, the Notes will not be redeemable at the Company’s option prior to June 15, 2027. 

  
 A-5 

 (d) At any time and from time to time on or after June 15, 2027, the Company may redeem
the Notes, in whole or in part, upon not less than 10 nor more than 60 days’ prior notice, with a copy to the Trustee, to each Holder of Notes to the address of such Holder appearing in the Notes Register at the redemption prices
(expressed as percentages of principal amount of the Notes to be redeemed) set forth in the table below, plus accrued and unpaid interest thereon, if any, to but excluding the applicable Redemption Date, subject to the right of Holders of
record of the Notes on the relevant record date to receive interest due on the relevant interest payment date, if redeemed during the twelve-month period beginning on June 15 of each of the years
indicated in the table below: 
  

					
	 Period
	  	Percentage	 
	 2027
	  	 	103.188	% 
	 2028
	  	 	102.125	% 
	 2029
	  	 	101.063	% 
	 2030 and thereafter
	  	 	100.000	% 

 (e) Notwithstanding the foregoing, in connection with any tender offer for the Notes, including a Change of
Control Offer or Asset Disposition Offer, if Holders of not less than 90.0% in aggregate principal amount of the outstanding Notes validly tender and do not withdraw such Notes in such tender offer and the Company, or any third party making such
tender offer in lieu of the Company, purchases all of the Notes validly tendered and not withdrawn by such Holders, the Company or such third party shall have the right upon not less than 10 nor more than 60 days’ prior notice, with a copy to
the Trustee, to each Holder of Notes to the address of such Holder appearing in the Notes Register, given not more than 15 days following such purchase date to redeem all Notes that remain outstanding following such purchase at a redemption price
equal to the price offered to each other Holder (excluding any early tender or incentive fee) in such tender offer plus, to the extent not included in the tender offer payment, accrued and unpaid interest, if any, thereon, to, but excluding, the
date of such redemption. 
 (f) Unless the Company defaults in the payment of the redemption price, interest will cease to accrue on the
Notes or portions thereof called for redemption on the applicable Redemption Date. 
 (g) Any redemption pursuant to this paragraph 7
shall be made pursuant to the provisions of Sections 5.1 through 5.6 of the Indenture. 
 Except as set
forth in this paragraph 7, the Company is not required to make mandatory redemption or sinking fund payments with respect to the Notes. 
 8.
Repurchase Provisions 
 If a Change of Control Triggering Event occurs, each Holder will have the right to require the Company to
repurchase from each Holder all or any part (equal to $2,000 or an integral multiple of $1,000 in excess thereof) of such Holder’s Notes at a purchase price in cash equal to 101.0% of the aggregate principal amount thereof plus accrued and
unpaid interest, to, but excluding, the date of purchase, subject to the right of Holders of record on the relevant record date to receive interest due on the relevant interest payment date as provided in, and subject to the terms of, the Indenture.

 Upon certain Asset Dispositions, the Company may be required to use the Excess Proceeds from such Asset Dispositions to offer to purchase
the maximum aggregate principal amount of Notes (that is $2,000 or an integral multiple of $1,000 in excess thereof) and, at the Company’s option, Pari Passu Indebtedness that may be purchased out of the Excess Proceeds at an offer price in
cash in an amount equal to 100.0% of the principal amount thereof, plus accrued and unpaid interest, to the date fixed for the closing of such offer, in accordance with the procedures set forth in Section 3.5 and in
Article V of the Indenture. 
 9. Denominations; Transfer; Exchange 

The Notes shall be issuable only in fully registered form in minimum denominations of principal amount of $2,000 and any integral multiple of
$1,000 in excess thereof. A Holder may transfer or exchange Notes in accordance with the Indenture. The Registrar may require a Holder, among other things, to furnish appropriate endorsements or 

  
 A-6 

 
transfer documents and to pay a sum sufficient to cover any tax and fees required by law or permitted by the Indenture. The Registrar need not register the transfer of or exchange of any Note
(A) for a period beginning (1) 15 days before the mailing of a notice of an offer to repurchase or redeem Notes and ending at the close of business on the day of such mailing or (2) 15 days before an Interest Payment Date
and ending on such Interest Payment Date or (B) called for redemption, except the unredeemed portion of any Note being redeemed in part. 
 10.
Persons Deemed Owners 
 The registered Holder of this Note may be treated as the owner of it for all purposes. 

11. Unclaimed Money 
 If money for the
payment of principal, premium, if any, interest remains unclaimed for two years, the Trustee or Paying Agent shall pay the money back to the Company at its written request unless an abandoned property law designates another Person to receive such
money. After any such payment, Holders entitled to the money must look only to the Company and not to the Trustee for payment as general creditors unless an abandoned property law designates another person for payment. 

12. Discharge and Defeasance 
 Subject to
certain exceptions and conditions set forth in the Indenture, the Company at any time may terminate some or all of its obligations under the Notes and the Indenture if the Company deposits with the Trustee money or U.S. Government Obligations for
the payment of principal, premium, if any and interest on the Notes to redemption or maturity, as the case may be. 
 13. Amendment, Supplement,
Waiver 
 Subject to certain exceptions contained in the Indenture, the Note Documents may be amended, or a Default thereunder may be
waived, with the consent of the Holders of a majority in aggregate principal amount of the outstanding Notes. Without notice to or the consent of any Holder, the Company, the Guarantors and the Trustee may amend or supplement the Indenture and the
Notes as provided in the Indenture. 
 14. Defaults and Remedies 

If an Event of Default (other than an Event of Default relating to certain events of bankruptcy, insolvency or reorganization of the Company or
certain Guarantors) occurs and is continuing, the Trustee by notice to the Company, or the Holders of at least 30.0% in principal amount of the outstanding Notes by notice to the Company and the Trustee, may, and the Trustee (subject to the
provisions of the Indenture) at the request of such Holders shall, declare the principal of and accrued and unpaid interest, and any other monetary obligations on all the Notes to be due and payable immediately. Upon the effectiveness of such
declaration, such principal, interest, and other monetary obligations will be due and payable immediately. If a bankruptcy, insolvency or reorganization of the Company or certain Guarantors occurs and is continuing, the principal of and accrued and
unpaid interest and any other monetary obligations on all the Notes will become and be immediately due and payable without any declaration or other act on the part of the Trustee or any Holders. Under certain circumstances, the Holders of a majority
in principal amount of the outstanding Notes may rescind any such acceleration with respect to the Notes and its consequences. 
 15. Trustee Dealings
with the Company 
 Subject to certain limitations set forth in the Indenture, the Trustee in its individual or any other capacity may
become the owner or pledgee of Notes and may otherwise deal with the Company, Guarantors or their Affiliates with the same rights it would have if it were not Trustee. In addition, the Trustee shall be permitted to engage in transactions with the
Company; provided, however, that if the Trustee acquires any conflicting interest, the Trustee must (i) eliminate such conflict within 90 days of acquiring such conflicting interest, (ii) apply to the SEC for permission
to continue acting as Trustee or (iii) resign. 

  
 A-7 

 16. No Recourse Against Others 

No director, officer, employee, incorporator or shareholder of the Company or any of its Subsidiaries or Affiliates, as such (other than the
Company and the Guarantors), shall have any liability for any obligations of the Company or the Guarantors under the Note Documents or for any claim based on, in respect of, or by reason of such obligations or their creation. Each Holder by
accepting a Note waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Notes. Such waiver may not be effective to waive liabilities under the U.S. federal securities laws and it is the view
of the SEC that such a waiver is against public policy. 
 17. Authentication 

This Note shall not be valid until an authorized signatory of the Trustee (or an authenticating agent acting on its behalf) manually signs the
certificate of authentication on the other side of this Note. 
 18. 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 rights of survivorship and not as tenants in common), CUST (= custodian) and U/G/M/A (= Uniform Gift to Minors Act). 

19. CUSIP and ISIN Numbers 
 The Company
has caused CUSIP and ISIN numbers, if applicable, to be printed on the Notes and has directed the Trustee to use CUSIP and ISIN numbers, if applicable, in notices of redemption or purchase 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 or purchase and reliance may be placed only on the other identification numbers placed thereon. 

20. Governing Law 
 This Note shall be
governed by, and construed in accordance with, the laws of the State of New York. 
 The Company will furnish to any Holder upon written
request and without charge to the Holder a copy of the Indenture. Requests may be made to: 
 Builders FirstSource, Inc. 

2001 Bryan Street, Suite 1600 

Dallas, Texas 75201 
 Facsimile:
(919) 431-1199 
 Attention: Timothy D. Johnson, Esq. 

  
 A-8 

 ASSIGNMENT FORM 

To assign this Note, fill in the form below: 

I or we assign and transfer this Note to: 
  

 
 (Print or type assignee’s name,
address and zip code) 
  
  

(Insert assignee’s social security or tax I.D. No.) 

and irrevocably appoint ___________ agent to transfer this Note on the books of the Company. The agent may substitute another to act for him. 

 

					
	Date:    	 	 Your Signature:
	 	
 

 

			
	 Signature Guarantee:
	 	  

	(Signature must be guaranteed)

  
  

Sign exactly as your name appears on the other side of this Note. 

The signature(s) should be guaranteed by an eligible guarantor institution (banks, stockbrokers, savings and loan associations and credit unions with
membership in an approved signature guarantee medallion program), pursuant to Exchange Act Rule 17Ad-15. 
 The
undersigned hereby certifies that it ☐ is / ☐ is not an Affiliate of the Company and that, to its knowledge, the proposed transferee ☐ is / ☐ is not an Affiliate of the Company. 

In connection with any transfer or exchange of any of the Notes evidenced by this certificate occurring prior to the date that is one year
after the later of the date of original issuance of such Notes and the last date, if any, on which such Notes were owned by the Company or any Affiliate of the Company, the undersigned confirms that such Notes are being: 

CHECK ONE BOX BELOW: 
  

					
			
	(1)	  	☐	  	acquired for the undersigned’s own account, without transfer; or
			
	(2)	  	☐	  	transferred to the Company; or
			
	(3)	  	☐	  	transferred pursuant to and in compliance with Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”); or
			
	(4)	  	☐	  	transferred pursuant to an effective registration statement under the Securities Act; or
			
	(5)	  	☐	  	transferred pursuant to and in compliance with Regulation S under the Securities Act; or
			
	(6)	  	☐	  	transferred pursuant to another available exemption from the registration requirements of the Securities Act of 1933, as amended.

 Unless one of the boxes is checked, the Trustee will refuse to register any of the Notes evidenced by this certificate
in the name of any person other than the registered Holder thereof; provided, however, that if box (5), (6) or (7) is checked, the Company may require, prior to registering any such transfer of the Notes, in its sole discretion,
such legal opinions, certifications and other information as the Company may reasonably request to confirm that such transfer is being made pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the
Securities Act of 1933, as amended, such as the exemption provided by Rule 144 under such Act. 

  
 A-9 

					
		  		  	  

		  	        	  	Signature
			
	Signature Guarantee:	  		  	
			
	  
	  		  	  

	(Signature must be guaranteed)	  		  	Signature

 The signature(s) should be guaranteed by an eligible guarantor institution (banks, stockbrokers, savings and loan associations
and credit unions with membership in an approved signature guarantee medallion program), pursuant to Exchange Act Rule 17Ad-15. 

TO BE COMPLETED BY PURCHASER IF BOX (1) OR (3) ABOVE IS CHECKED. 

The undersigned represents and warrants that it is purchasing this Note for its own account or an account with respect to which it exercises
sole investment discretion and that it and any such account is a “qualified institutional buyer” within the meaning of Rule 144A under the Securities Act of 1933, as amended, and is aware that the sale to it is being made in reliance
on Rule 144A and acknowledges that it has received such information regarding the Company as the undersigned has requested pursuant to Rule 144A or has determined not to request such information and that it is aware that the transferor is
relying upon the undersigned’s foregoing representations in order to claim the exemption from registration provided by Rule 144A. 
  

	
	  

	Dated:

  
 A-10 

 [TO BE ATTACHED TO GLOBAL NOTES] 

SCHEDULE OF INCREASES OR DECREASES IN GLOBAL NOTES 

The following increases or decreases in this Global Note have been made: 

 

									
	 Date of Exchange
	  	 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
signatory of

Trustee or Notes

Custodian

  
 A-11 

 OPTION OF HOLDER TO ELECT PURCHASE 

If you elect to have this Note purchased by the Company pursuant to Section 3.5 or 3.9 of the Indenture, check either box: 

Section 3.5  ☐    Section 3.9  ☐ 

If you want to elect to have only part of this Note purchased by the Company pursuant to Section 3.5 or 3.9 of the Indenture, state the
amount in principal amount (must be in denominations of $2,000 or an integral multiple of $1,000 in excess thereof): $___________________________________ and specify the denomination or denominations (which shall not be less than the minimum
authorized denomination) of the Notes to be issued to the Holder for the portion of the within Note not being repurchased (in the absence of any such specification, one such Note will be issued for the portion not being repurchased):
_________________. 
 Date: __________ Your Signature ____________________________________________________ 

  (Sign exactly as your name appears on the other side of the Note) 

Signature Guarantee: _______________________________________________________________ 

  (Signature must be guaranteed) 
 The
signature(s) should be guaranteed by an eligible guarantor institution (banks, stockbrokers, savings and loan associations and credit unions with membership in an approved signature guarantee medallion program), pursuant to Exchange Act Rule 17Ad-15. 

  
 A-12 

 EXHIBIT B 

Form of Supplemental Indenture to Add Guarantors 

SUPPLEMENTAL INDENTURE, (this “Supplemental Indenture”) dated as of [         ], by
and among the parties that are signatories hereto as Guarantors (the “Guaranteeing Subsidiary”), Builders FirstSource, Inc., a Delaware corporation (the “Company”), and Wilmington Trust, National Association, a
national banking association, as trustee (in such capacity, the “Trustee”) under the Indenture referred to below. 
 W
I T N E S S E T H: 
 WHEREAS, each of the Company, the Guarantors (as
defined in the Indenture referred to herein) and the Trustee have heretofore executed and delivered an indenture dated as of June 15, 2022 (as amended, supplemented, waived or otherwise modified, the “Indenture”), providing for
the issuance of an aggregate principal amount of $700.0 million of 6.375% Senior Notes due 2032 of the Company (the “Notes”); 

WHEREAS, the Indenture provides that under certain circumstances the Guaranteeing Subsidiary shall execute and deliver to the Trustee a
supplemental indenture pursuant to which the Guaranteeing Subsidiary shall unconditionally guarantee, on a joint and several basis with the other Guarantors, all of the Company’s Obligations under the Notes and the Indenture on the terms and
conditions set forth herein and under the Indenture (the “Guarantee”); and 
 WHEREAS, pursuant to
Section 9.1 of the Indenture, the Company and the Trustee are authorized to execute and deliver a supplemental indenture to add additional Guarantors, without the consent of any Holder; 

NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of which is hereby acknowledged,
the Guaranteeing Subsidiary, the Company and the Trustee mutually covenant and agree for the equal and ratable benefit of the Holders of the Notes as follows: 

ARTICLE I 
 DEFINITIONS 

SECTION 1.1. Defined Terms. As used in this Supplemental Indenture, terms defined in the Indenture or in the preamble or recitals
hereto are used herein as therein defined. The words “herein,” “hereof” and “hereby” and other words of similar import used in this Supplemental Indenture refer to this Supplemental Indenture as a whole and not to any
particular section hereof. 
 ARTICLE II 

AGREEMENT TO BE BOUND; GUARANTEE 

SECTION 2.1. Agreement to be Bound. The Guaranteeing Subsidiary hereby becomes a party to the Indenture as a Guarantor and as such will
have all of the rights and be subject to all of the obligations and agreements of a Guarantor under the Indenture. 
 SECTION 2.2.
Guarantee. The Guaranteeing Subsidiary agrees, on a joint and several basis with all the existing Guarantors, to fully, unconditionally and irrevocably Guarantee to each Holder of the Notes and the Trustee the Guaranteed Obligations pursuant
to Article X of the Indenture on a senior basis. 

  
 B-1 

 ARTICLE III 

MISCELLANEOUS 
 SECTION 3.1.
Notices. All notices and other communications to the Guaranteeing Subsidiary shall be given as provided in the Indenture to any Guarantor, at their address set forth below, with a copy to the Company as provided in the Indenture for notices
to the Company. 
 [INSERT ADDRESS] 

SECTION 3.2. Merger, Amalgamation and Consolidation. The Guaranteeing Subsidiary shall not sell or otherwise dispose of all or
substantially all of its assets to, or consolidate with or merge with or into another Person (other than the Company or any Restricted Subsidiary that is a Guarantor or becomes a Guarantor concurrently with the transaction) except in accordance with
Section 4.1(f) of the Indenture. 
 SECTION 3.3. Release of Guarantee. This Guarantee shall be released in
accordance with Section 10.2 of the Indenture. 
 SECTION 3.4. Parties. Nothing expressed or mentioned
herein is intended or shall be construed to give any Person, firm or corporation, other than the Holders and the Trustee, any legal or equitable right, remedy or claim under or in respect of this Supplemental Indenture or the Indenture or any
provision herein or therein contained. 
 SECTION 3.5. Governing Law. This Supplemental Indenture shall be governed by, and construed
in accordance with, the laws of the State of New York. 
 SECTION 3.6. Severability. In case any provision in this Supplemental
Indenture shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby and such provision shall be ineffective only to the extent of such
invalidity, illegality or unenforceability. 
 SECTION 3.7. Benefits Acknowledged. The Guaranteeing Subsidiary’s Guarantee is
subject to the terms and conditions set forth in the Indenture. The Guaranteeing Subsidiary acknowledges that it will receive direct and indirect benefits from the financing arrangements contemplated by the Indenture and this Supplemental Indenture
and that the guarantee and waivers made by it pursuant to this Guarantee are knowingly made in contemplation of such benefits. 
 SECTION
3.8. Ratification of Indenture; Supplemental Indentures Part of Indenture. Except as expressly amended hereby, the Indenture is in all respects ratified and confirmed and all the terms, conditions and provisions thereof shall remain in full
force and effect. This Supplemental Indenture shall form a part of the Indenture for all purposes, and every Holder of Notes heretofore or hereafter authenticated and delivered shall be bound hereby. 

SECTION 3.9. The Trustee. The Trustee makes no representation or warranty as to the validity or sufficiency of this Supplemental
Indenture or with respect to the recitals contained herein, all of which recitals are made solely by the other parties hereto. 
 SECTION
3.10. Counterparts. The parties hereto may sign any number of copies of this Supplemental Indenture. Each signed copy shall be an original, but all of them together represent the same agreement. The exchange of copies of this Supplemental
Indenture and of signature pages by facsimile or PDF transmission shall constitute effective execution and delivery of this Supplemental Indenture as to the parties hereto and may be used in lieu of the original Supplemental Indenture for all
purposes. Signatures of the parties hereto transmitted by facsimile or PDF shall be deemed to be their original signatures for all purposes. 

SECTION 3.11. Execution and Delivery. The Guaranteeing Subsidiary agrees that the Guarantee shall remain in full force and effect
notwithstanding any failure to endorse on each Note a notation of any such Guarantee. 

  
 B-2 

 SECTION 3.12. Headings. The headings of the Articles and the Sections in this
Supplemental Indenture are for convenience of reference only and shall not be deemed to alter or affect the meaning or interpretation of any provisions hereof. 

  
 B-3 

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

			
	BUILDERS FIRSTSOURCE, INC.
	as a Guarantor
		
	By:	 	  

		 	Name:
		 	Title:
	
	[SUBSIDIARY GUARANTOR],
	as a Guarantor
		
	By:	 	  

		 	Name:
		 	Title:

  

  
 [Signature Page to
Supplemental Indenture] 

 
			
	WILMINGTON TRUST, NATIONAL ASSOCIATION,
	as Trustee
		
	By:	 	  

		 	Name:
		 	Title:

  
 [Signature Page to
Supplemental Indenture]Exhibit 10.1

 

AMENDMENT NO. 4 TO

SECOND AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT

 

THIS AMENDMENT NO. 4 TO SECOND
AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT (this "Amendment") is entered into as of June 14, 2022, by and
among the Lenders party hereto, WELLS FARGO CAPITAL FINANCE, LLC, a Delaware limited liability company, as the agent for the Lenders (in
such capacity, "Agent"), Century Aluminum Company, a Delaware corporation
("Century"), CENTURY ALUMINUM OF SOUTH CAROLINA, INC. (successor in interest to Berkeley Aluminum, Inc.), a
Delaware corporation ("Century South Carolina"), CENTURY ALUMINUM OF KENTUCKY GENERAL PARTNERSHIP, a Kentucky general
partnership ("Century of Kentucky GP"), NSA general partnership, a Kentucky
general partnership ("NSA"), and CENTURY ALUMINUM SEBREE LLC, a Delaware limited liability company ("Century
Sebree"; and together with Century, Century South Carolina, Century of Kentucky GP and NSA, each a "Borrower"
and collectively the "Borrowers").

 

WHEREAS, Borrowers, Agent, and
Lenders are parties to that certain Second Amended and Restated Loan and Security Agreement dated as of May 16, 2018 (as amended,
modified or supplemented from time to time, the "Loan Agreement"); and

 

WHEREAS, Borrowers, Agent and
Lenders have agreed to amend the Loan Agreement to, among other items, increase the Revolving Credit Maximum Amount and related aggregate
Revolving Loan Commitments from $220,000,000 to $250,000,000, subject to the terms and conditions contained herein.

 

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

 

1.             Defined
Terms. Unless otherwise defined herein, capitalized terms used herein shall have the meanings ascribed to such terms in the Loan Agreement.

 

2.             Amendments
to Loan Agreement. Subject to the satisfaction of the conditions set forth in Section 4 below and in reliance upon the
representations and warranties of Borrowers set forth in Section 5 below, the Loan Agreement is hereby amended as follows:

 

(a)           Each
of the Loan Agreement and Appendix A to the Loan Agreement (General Definitions) are hereby amended to delete the stricken text (indicated
textually in the same manner as the following example: <stricken text>) and to
add the underlined text (indicated textually in the same manner as the following example: underlined
text) as reflected in the modifications identified in the document attached hereto as Exhibit A. Notwithstanding
the foregoing, through and until the last day of the Interest Period for any applicable Revolving Credit Loan, all existing Revolving
Credit Loans based on the LIBOR Rate (as defined in the Loan Agreement before giving effect to this Amendment) as of the date hereof shall
continue as Revolving Credit Loans based on the LIBOR Rate, and all definitions, terms and conditions, each as set forth in the Loan Agreement
prior to giving effect to this Amendment, shall continue solely with respect to such Revolving Credit Loans based on the LIBOR Rate and,
from and after the last day of the Interest Period for such Revolving Credit Loans, such Revolving Credit Loans shall be based on Adjusted
Term SOFR in accordance with the terms of the Loan Agreement (after giving effect to this Amendment).

 

     

     

    

 

(b)           Schedule
C-1 (Revolving Loan Commitments) to the Loan Agreement is hereby amended and restated in its entirety in the form attached hereto as Schedule
C-1. The Lenders agree to make such inter-Lender assignments and wire transfers as may be required on the Fourth Amendment Effective Date
to give effect to the allocation of the Revolving Loan Commitments and Revolving Loan Percentages as indicated on such Schedule C-1.

 

3.             Ratification;
Other Agreements;.

 

(a)           This
Amendment, subject to satisfaction of the conditions provided below, shall constitute an amendment to the Loan Agreement and all of the
Loan Documents as appropriate to express the agreements contained herein. In all other respects, the Loan Agreement and the Loan Documents
shall remain unchanged and in full force and effect in accordance with their original terms.

 

(b)           Upon
and after the execution of this Amendment by each of the parties hereto, each reference in the Loan Agreement to "this Agreement",
 "hereunder", "hereof" or words of like import referring to the Loan Agreement, and each reference in the other Loan
Documents to "the Loan Agreement", "thereunder", "thereof" or words of like import referring to the Loan
Agreement, shall mean and be a reference to the Loan Agreement as modified hereby. This Amendment shall constitute a Loan Document.

 

(c)           The
execution, delivery and effectiveness of this Amendment shall not, except as expressly provided herein, operate as a waiver of any right,
power or remedy of any Lender or the Agent under any of the Loan Documents.

 

4.             Conditions
to Effectiveness. This Amendment shall become effective as of the date hereof and upon the satisfaction of the following conditions
precedent:

 

(a)           Agent
shall have received a copy of this Amendment executed by each Borrower, Agent, Issuing Lender and each Lender, together with the
consent and reaffirmation attached hereto executed by each Guarantor and each other document and deliverable set forth on the Closing
Checklist attached hereto as Exhibit B;

 

(b)           Agent
shall have determined that as of the Fourth Amendment Effective Date and immediately after giving effect to any Loans to be made and Letters
of Credit to be issued or outstanding on the Fourth Amendment Effective Date, and the payment by Borrowers of all closing costs incurred
in connection with the transactions contemplated hereby, Availability shall not be less than $100,000,000;

 

(c)           no
Default or Event of Default shall exist on the date hereof or as of the date of the effectiveness of this Amendment; and

 

(d)           Borrowers
shall have paid all fees (including the Amendment Fee (as defined below)), costs and expenses due and payable as of the date hereof under
the Loan Agreement and the other Loan Documents (including, without limitation, the Fee Letter).

 

    - 2 - 

     

    

 

5.             Representations
and Warranties. In order to induce Agent and Lenders to enter into this Amendment, each Borrower hereby represents and warrants to
Agent and Lenders, after giving effect to this Amendment:

 

(a)           the
representations and warranties set forth in each of the Loan Documents are true and correct in all respects on and as of the Closing Date
and on and as of the date hereof with the same effect as though made on and as of the date hereof (except to the extent such representations
and warranties by their terms expressly relate to an earlier date, in which case such representations and warranties shall have been true
and correct, in all respects, as of such earlier date);

 

(b)           no
Default or Event of Default exists; and

 

(c)           the
execution, delivery and performance of this Amendment has been duly authorized by all requisite corporate or other relevant action on
the part of such Borrower.

 

6.             Miscellaneous.

 

(a)            Expenses.
Borrowers agree to pay on demand all reasonable and documented out-of-pocket costs and expenses of Agent (including legal fees and expenses
of outside counsel for Agent) in connection with the preparation, negotiation, execution, delivery and administration of this Amendment
and all other instruments or documents provided for herein or delivered or to be delivered hereunder or in connection herewith. All obligations
provided in this Section 6(a) shall survive any termination of this Amendment and the Loan Agreement as amended hereby.

 

(b)            Governing
Law. This Amendment shall be a contract made under and governed by the internal laws of the State of New York.

 

(c)            Disclaimer.
Without prejudice to any other provision of this Agreement, each Party acknowledges and agrees for the benefit of each of the other Parties:
(a) the LIBOR Rate (i) may be subject to methodological or other changes which could affect its value and/or (ii) may be
permanently discontinued; and (b) the occurrence of any of the aforementioned events and may have adverse consequences which may
materially impact the economics of the financing transactions contemplated under this Agreement.

 

(d)            Counterparts.
This Amendment may be executed in any number of counterparts, and by the parties hereto on the same or separate counterparts, and each
such counterpart, when executed and delivered, shall be deemed to be an original, but all such counterparts shall together constitute
but one and the same Amendment. Any signature to this agreement may be delivered by facsimile, electronic mail (including pdf) or any
electronic signature complying with the U.S. federal ESIGN Act of 2000 or the New York Electronic Signature and Records Act or other
transmission method and any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective
for all purposes to the fullest extent permitted by applicable law. Each of the parties hereto represents and warrants to the other parties
that it has the corporate capacity and authority to execute this Amendment through electronic means and there are no restrictions for
doing so in that party’s constitutive documents.

 

(e)            Amendment
Fee. As consideration for the agreements contemplated by this Amendment, Borrowers hereby agree to pay to Agent, for the ratable
benefit of the Lenders, an amendment fee (the "Amendment Fee") equal to twenty (20) basis points of the aggregate Revolving
Loan Commitments after giving effect to this Amendment (i.e. an amount equal to $500,000), for the ratable benefit of each Lender increasing
its Revolving Loan Commitment pursuant to this Amendment, which Amendment Fee shall be fully-earned and non-refundable when paid.

 

[Signature Pages Follow]

 

    - 3 - 

     

    

 

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

 

	 	BORROWERS: 
	 	 
	 	CENTURY ALUMINUM COMPANY
	 	 
	 	By:	/s/ Michelle Harrison
	 	 	Name: Michelle Harrison
	 	 	Title: SVP, Finance & Treasurer

 

	 	CENTURY ALUMINUM OF SOUTH CAROLINA, INC.
(successor in interest to Berkeley Aluminum, Inc.)
	 	 
	 	By:	/s/ Michelle Harrison
	 	 	Name: Michelle Harrison
	 	 	Title: VP & Treasurer

 

	 	Century ALUMINUM OF Kentucky GENERAL
PARTNERSHIP
	 	 
	 	By:	Metalsco LLC, its Managing Partner
	 	 
	 	By:	/s/ Michelle Harrison
	 	 	Name: Michelle Harrison
	 	 	Title: VP & Treasurer

 

	 	NSA GENERAL PARTNERSHIP
	 	 
	 	By:	CENTURY KENTUCKY, INC.,
	 	 	its Managing Partner
	 	 	 
	 	By:	/s/ Michelle Harrison
	 	 	Name: Michelle Harrison
	 	 	Title: VP & Treasurer

 

	 	CENTURY ALUMINUM SEBREE LLC
	 	 
	 	By:	/s/ Michelle Harrison
	 	 	Name: Michelle Harrison
	 	 	Title: VP & Treasurer

 

Signature Page to Amendment
No. 4 to Second Amended and Restated Loan and Security Agreement

 

     

     

    

 

	 	AGENT AND LENDERS:
	 	 
	 	WELLS FARGO
    CAPITAL FINANCE, LLC,
	 	as Agent, as Issuing Lender and as a Lender
	 	 
	 	By:	/s/ Brandi Petrucci
	 	 	Name: Brandi Petrucci
	 	 	Title: Director, Authorized Signatory

 

Signature Page to Amendment
No. 4 to Second Amended and Restated Loan and Security Agreement

 

     

     

    

 

	 	CREDIT SUISSE AG, NEW YORK BRANCH, as a Lender
	 	 
	 	By:	/s/ Mikhail Faybusovich
	 	 	Name: Mikhail Faybusovich
	 	 	Title: Authorized Signatory

 

	 	By:	/s/ Jessica Gavarkovs
	 	 	Name:  Jessica Gavarkovs
	 	 	Title: Authorized Signatory

 

Signature Page to Amendment
No. 4 to Second Amended and Restated Loan and Security Agreement

 

     

     

    

 

	 	BMO HARRIS BANK N.A.,
as a Lender
	 	 
	 	By:	/s/ Elisabeth Izzo
	 	 	Name: Elisabeth Izzo
	 	 	Title: Vice President

 

Signature Page to Amendment
No. 4 to Second Amended and Restated Loan and Security Agreement

 

     

     

    

 

	 	Bank
 of America, N.A., as a Lender
	 	 
	 	By:	/s/ Zach Nobis-Olson
	 	 	Name: Zach Nobis-Olson
	 	 	Title: Senior Vice President

 

Signature Page to Amendment
No. 4 to Second Amended and Restated Loan and Security Agreement

 

     

     

    

 

CONSENT AND REAFFIRMATION

 

Each of the undersigned (collectively,
the "Guarantors") hereby (i) acknowledges receipt of a copy of the foregoing Amendment No. 4 to Second Amended
and Restated Credit Agreement (the "Amendment"; terms defined therein and used, but not otherwise defined, herein shall
have the meanings assigned to them therein); (ii) consents to each Borrower's execution and delivery thereof; (iii) acknowledges
and agrees to the terms of the Amendment as if it were a signatory thereto; and (iv) except as specifically provided therein, affirms
that nothing contained therein shall modify in any respect whatsoever its respective guaranty of the obligations of each Borrower to Agent
and Lenders pursuant to the terms of the Guaranty Agreements executed in favor of Agent and Lenders, and reaffirms that each Guaranty
Agreement is and shall continue to remain in full force and effect. Although Guarantors have been informed of the matters set forth herein
and have acknowledged and agreed to same, each Guarantor understands that Agent and Lenders have no obligation to inform Guarantors of
such matters in the future or to seek any Guarantor’s acknowledgment or agreement to future amendments or waivers, and nothing herein
shall create such a duty.

 

[signature
page follows]

 

     

     

    

 

	 	METALSCO,
    LLC,
	 	a Georgia limited liability company
	 	 
	 	By:	/s/ Michelle Harrison
	 	 	Name: Michelle Harrison
	 	 	Title: VP & Treasurer

 

	 	SKYLINER, LLC,
	 	a Delaware limited liability company
	 	 
	 	By:	/s/ Michelle Harrison
	 	 	Name: Michelle Harrison
	 	 	Title: VP & Treasurer

 

	 	CENTURY KENTUCKY, INC.,
	 	a Delaware corporation
	 	 
	 	By:	/s/ Michelle Harrison
	 	 	Name: Michelle Harrison
	 	 	Title: VP & Treasurer

 

	 	CENTURY MARKETER LLC,
	 	a Delaware limited liability company
	 	 
	 	By:	/s/ Michelle Harrison
	 	 	Name: Michelle Harrison
	 	 	Title: VP & Treasurer

 

Signature Page to Consent and Reaffirmation

 

     

     

    

 

Schedule C-1

 

Revolving Loan Commitments

 

	Lender	 	Revolving Loan 

Commitment	 	 	Revolving Loan 

Percentage	 
	Wells Fargo Capital Finance, LLC	 	$	130,000,000.00	 	 	 	52.0	%
	Bank of America, N.A.	 	$	40,000,000.00	 	 	 	16.0	%
	Credit Suisse AG, New York Branch	 	$	40,000,000.00	 	 	 	16.0	%
	BMO Harris Bank, N.A.	 	$	40,000,000.00	 	 	 	16.0	%
	Total	 	$	250,000,000.00	 	 	 	100.0	%

 

     

     

    

 

EXHIBIT A

 

Conformed Credit Agreement

 

(attached)

 

     

     

    

 

 

Exhibit A to Amendment No. 4 to Second Amended
and Restated Loan and Security Agreement

 

__________________________________________________

 

CENTURY ALUMINUM COMPANY

 

CENTURY ALUMINUM OF SOUTH CAROLINA, INC.

 

CENTURY ALUMINUM OF KENTUCKY GENERAL PARTNERSHIP

 

NSA GENERAL PARTNERSHIP

 

CENTURY ALUMINUM SEBREE LLC

 

__________________________________________________

 

__________________________________________________

 

SECOND AMENDED AND RESTATED

LOAN AND SECURITY AGREEMENT

 

dated as of May 16, 2018

 

$175,000,000250,000,000

 

__________________________________________________

 

__________________________________________________

 

WELLS FARGO CAPITAL FINANCE,
LLC,

as Agent and as Lead Arranger

 

 

__________________________________________________

 

As
amended by:

 

Amendment
No. 1 to Second Amended and Restated Loan and Security Agreement dated as of June 17, 2020; Amendment No. 2 to Second Amended
and Restated Loan and Security Agreement dated as of June 11, 2021; Amendment No. 3 to Second Amended and Restated Loan and
Security Agreement dated as of December 23, 2021; and Amendment No. 4 to Second Amended and Restated Loan and Security Agreement
dated as of June 14, 2022.

 

     

     

    

 

TABLE OF CONTENTS

 

	SECTION 1. CREDIT FACILITY	1
	1.1.	Loans	1
	1.2.	Letters of Credit	4
	1.3.	Uncommited Facility Increase	9
	1.4.	Effect of Amendment and Restatement; Release	10
	 	 	 
	SECTION 2. INTEREST, FEES AND CHARGES	11
	2.1.	Interest	11
	2.2.	Computation of Interest and Fees	1113
	2.3.	Fee Letter	13
	2.4.	Letter of Credit Fees	1213
	2.5.	Unused Line Fee	1214
	2.6.	Audit and Appraisal Fees	14
	2.7.	Reimbursement of Expenses	1315
	2.8.	Payment of Charges	15
	2.9.	No Deductions	1416
	 	 	 
	SECTION 3. LOAN ADMINISTRATION	1517
	3.1.	Manner of Borrowing Revolving Credit Loans/LIBORSOFR Option	1517
	3.2.	Payments	1921
	3.3.	Mandatory and Optional Prepayments	2022
	3.4.	Application of Payments and Collections; Business Day Convention	2123
	3.5.	All Loans to Constitute One Obligation	2324
	3.6.	Loan Account	2324
	3.7.	Statements of Account	2325
	3.8.	Increased Costs.	2325
	3.9.	Suspension of LIBORSOFR Portions	2426
	3.10.	Sharing of Payments, Etc.	2527
	3.11.	Indemnity for Returned Payments	27
	3.12.	Nature and Extent of Each Borrower's Liability	2628
	3.13.	Lender's Obligation to Mitigate; Replacement of Lenders; Benchmark Replacement Setting	2729
	 	 	 
	SECTION 4. TERM AND TERMINATION	2832
	4.1.	Term of Agreement	2832
	4.2.	Termination	2832
	 	 	 
	SECTION 5. SECURITY INTERESTS	2933
	5.1.	Security Interest in Collateral	2933
	5.2.	Excluded Collateral	2933
	5.3.	Lien Perfection; Further Assurances	2933

 

     i

     

    

 

	SECTION 6. COLLATERAL ADMINISTRATION	2934
	6.1.	General	2934
	6.2.	Administration of Accounts	3035
	6.3.	Administration of Inventory	3236
	6.4.	Payment of Charges	3236
	 	 	 
	SECTION 7. REPRESENTATIONS AND WARRANTIES	3236
	7.1.	General Representations and Warranties	3236
	7.2.	Reaffirmation of Representations and Warranties	3640
	7.3.	Survival of Representations and Warranties	3641
	 	 	 
	SECTION 8. COVENANTS AND CONTINUING AGREEMENTS	3741
	8.1.	Affirmative Covenants	3741
	8.2.	Negative Covenants	4045
	 	 	 
	SECTION 9. CONDITIONS PRECEDENT	4650
	9.1.	Conditions Precedent to Effectiveness of this Agreement	4650
	9.2.	Conditions Precedent to Each Loan and Letter of Credit	4752
	 	 	 
	SECTION 10. EVENTS OF DEFAULT; RIGHTS AND REMEDIES ON DEFAULT	4853
	10.1.	Events of Default	4853
	10.2.	Acceleration of the Obligations	5055
	10.3.	Other Remedies	5155
	10.4.	Setoff and Sharing of Payments	5256
	10.5.	Remedies Cumulative; No Waiver	5257
	 	 	 
	SECTION 11. AGENT	5358
	11.1.	Authorization and Action	5358
	11.2.	Agent's Reliance, Etc.	5458
	11.3.	 WFCF and its Affiliates	5459
	11.4.	Lender Credit Decision	5559
	11.5.	Indemnification	5559
	11.6.	Rights and Remedies to Be Exercised by Agent Only	5560
	11.7.	Agency Provisions Relating to Collateral	5660
	11.8.	Agent's Right to Purchase Commitments	5661
	11.9.	Resignation of Agent; Appointment of Successor	5661
	11.10.	Audit and Examination Reports; Disclaimer by Lenders	5761
	11.11.	USA Patriot Act	5762
	11.12.	Bank Product Providers	5862
	 	 	 
	SECTION 12. MISCELLANEOUS	5863
	12.1. 	Right of Sale, Assignment, Participations	5863
	12.2.	Amendments, Etc.	6267
	12.3.	Power of Attorney	6368
	12.4.	Indemnity	6469
	12.5.	Sale of Interest	6570
	12.6.	Severability	6570
	12.7.	Successors and Assigns	6570
	12.8.	Cumulative Effect; Conflict of Terms	6670
	12.9.	Execution in Counterparts	6670

 

     -ii-

     

    

 

	12.10.	Notice	6671
	12.11.	Consent	6771
	12.12.	Credit Inquiries	6772
	12.13.	Time of Essence	6772
	12.14.	Entire Agreement	6772
	12.15.	Interpretation	6772
	12.16.	Confidentiality	6872
	12.17.	GOVERNING LAW; CONSENT TO JURISDICTION	6873
	12.18.	WAIVERS BY BORROWERS	6973
	12.19.	Advertisement	6974
	12.20.	Reimbursement	6974
	12.21.	Section Headings	7074
	12.22.	Acknowledgment and Consent to Bail-In of EEAAffected Financial Institution	7074
	12.23.	Acknowledgment
Regarding Any Supported QFCs	75

 

    -iii-

     

    

 

SECOND AMENDED AND RESTATED

LOAN AND SECURITY AGREEMENT

 

THIS SECOND AMENDED AND
RESTATED LOAN AND SECURITY AGREEMENT is made as of this 16 day of May, 2018, by and among WELLS FARGO CAPITAL FINANCE, LLC (together
with its successors and assigns, "WFCF"), a Delaware limited liability company, individually as a Lender, as Issuing
Lender (as hereinafter defined), and as Agent (in such capacity, together with its successors and assigns, "Agent") for
itself and any other financial institution which is or becomes a party hereto (each such financial institution, including WFCF, is referred
to hereinafter individually as a "Lender" and collectively as the "Lenders"), the LENDERS, and
CENTURY ALUMINUM COMPANY, a Delaware corporation ("Century"), CENTURY ALUMINUM OF SOUTH CAROLINA, INC.
(successor in interest to Berkeley Aluminum, Inc.), a Delaware corporation ("Century South Carolina"), CENTURY
ALUMINUM OF KENTUCKY GENERAL PARTNERSHIP, a Kentucky general partnership ("Century of Kentucky GP"), NSA GENERAL
PARTNERSHIP, a Kentucky general partnership (" NSA"), CENTURY ALUMINUM SEBREE LLC, a Delaware limited liability
company ("Century Sebree", and together with Century, Century South Carolina, Century of Kentucky GP and NSA, and each
other Person that becomes a party hereto from time to time as a borrower, "Borrowers"). Capitalized terms used in this
Agreement and not otherwise specifically defined herein have the meanings assigned to them in Appendix A.

 

WHEREAS, Borrowers, Agent
and the Lenders party thereto entered into that certain Amended and Restated Loan and Security Agreement dated as of May 24, 2013
(as amended, supplemented or otherwise modified prior to the date hereof, the "Existing Loan Agreement"); and

 

WHEREAS, the parties to the
Existing Loan Agreement desire to amend and restate the Existing Loan Agreement in its entirety pursuant to this Agreement.

 

    

     

    

 

SECTION 1. CREDIT FACILITY

 

Subject to the terms and conditions
of, and in reliance upon the representations and warranties made in, this Agreement and the other Loan Documents, Lenders agree, severally
and not jointly, to make a credit facility (the "Facility") of up to the Revolving Credit Maximum Amount available upon
Borrowers' request therefor, as follows:

 

1.1.          Loans.

 

1.1.1.       Revolving
Credit Loans. Immediately prior to giving effect to this Agreement, as of the Second Restatement Effective Date, the outstanding
principal balance of Revolving Credit Loans made under the Existing Loan Agreement was $0 (the "Outstanding Existing
Revolving Loan Balance"). On the Second Restatement Effective Date and upon the effectiveness of this Agreement, the
Outstanding Existing Revolving Loan Balance shall constitute Revolving Credit Loans hereunder owing to the Lenders for all purposes
of this Agreement and the other Loan Documents. Subject to the terms and conditions of, and in reliance upon the representations and
warranties made in, this Agreement and the other Loan Documents, each Lender agrees, severally and not jointly, for so long as no
Default or Event of Default exists, to make Revolving Credit Loans to Borrowers from time to time during the period from the Second
Restatement Effective Date to but not including the last day of the Term, as requested by Borrower Representative in the manner set
forth in subsection 3.1.1 hereof, up to a maximum principal amount at any time outstanding equal to the lesser of
(i) such Lender's Revolving Loan Commitment minus the product of such Lender's Revolving Loan Percentage and the LC
Exposure, and (ii) the product of such Lender's Revolving Loan Percentage and an amount equal to (A) the Borrowing Base at
such time minus (B) the LC Exposure (other than the Cash Collateralized LC Exposure) at such time minus
(C) Reserves, if any. Agent shall have the right to establish reserves in such amounts, and with respect to such matters, as
Agent may deem necessary from time to time in its Reasonable Credit Judgment based on facts or circumstances not existing on the
Second Restatement Effective Date or existing on the Second Restatement Effective Date but not known to Agent on the Second
Restatement Effective Date (such reserves, "Reserves"), including (it being understood that the following list may
justify reserves but does not necessarily require them), with respect to (i) price adjustments, lower of cost or market
adjustments based on LME Prices, damages, unearned discounts, returned products or other matters for which credit memoranda are
issued in the ordinary course of any Borrower's business; (ii) sums properly chargeable against Borrowers' Loan Account as
Revolving Credit Loans under any section of this Agreement; (iii) amounts owing by any Borrower to any Person (other than a
Lender pursuant to the Loan Documents) to the extent secured by a Lien on any of the Collateral; (iv) amounts owing by any
Borrower in connection with Product Obligations (not to exceed the Aggregate Bank Product Reserve); (v) dividends declared by a
Borrower or Guarantor but not yet paid (but only to the extent the amount of such dividends exceeds the amount of Borrowers'
immediately available funds held in Dominion Accounts); and (vi) the Dilution Reserve. Notwithstanding anything herein to the
contrary, reserves will not duplicate (i) eligibility criteria contained in the definitions of "Eligible Accounts"
and "Eligible Inventory", and vice versa and (ii) reserves or criteria deducted in computing book value or the net
amount of Eligible Accounts or Eligible Inventory. Any changes in Availability after the Second Restatement Effective Date by way of
establishing new reserve categories, increasing the amount or calculation methodology of any existing reserve or changing the
concentration percentages set forth in clause (xv) of the definition of Eligible Accounts will require five Business Days'
prior written notice to Borrower Representative if, and only if, such change would reasonably be expected to cause Availability, as
of the date of such change, to fall below the Covenant Trigger Amount and Agent shall consult with Borrower Representative prior to
making any such change (but Borrower Representative's consent shall not be required). The Revolving Credit Loans shall be repayable
as set forth in Section 3.

 

1.1.2.       Overadvances.
Insofar as Borrower Representative may request (such request to be made in the manner set forth in subsection 3.1.1 hereof), and
Agent may be willing in its sole and absolute discretion to approve, or as Agent shall otherwise elect to make in its sole and absolute
discretion, each Lender agrees, severally and not jointly, to make Revolving Credit Loans to Borrowers at a time when the unpaid balance
of Revolving Credit Loans plus the LC Exposure (other than the Cash Collateralized LC Exposure) plus Reserves exceeds, or
would exceed with the making of any such Revolving Credit Loan, the Borrowing Base (such Loan or Loans being herein referred to individually
as an "Overadvance" and collectively, as "Overadvances"). Agent shall enter such Overadvances as debits
in the Loan Account. Any Overadvance made pursuant to the terms hereof shall be made by all Lenders ratably in accordance with their respective
Revolving Loan Percentages. Overadvances in the aggregate amount of $17,500,000 or less may be made in the sole and absolute discretion
of Agent.

 

    -2-

     

    

 

Overadvances in an aggregate amount of $17,500,000
or more shall require the consent of Majority Lenders. All Overadvances shall be repaid on demand and shall bear interest as provided
in this Agreement for Revolving Credit Loans generally. The foregoing notwithstanding, in no event, unless otherwise consented to by all
Lenders, (x) shall any Overadvances be outstanding for more than 60 consecutive days, (y) after all outstanding Overadvances
have been repaid, shall Agent or Lenders make any additional Overadvances unless 5 days or more have expired since the last date on which
any Overadvances were outstanding, or (z) shall Agent make Revolving Credit Loans on behalf of Lenders under this subsection 1.1.2
to the extent such Revolving Credit Loans would cause a Lender's share of the Revolving Credit Loans to exceed such Lender's Revolving
Loan Commitment minus such Lender's Revolving Loan Percentage of the LC Exposure, unless such Lender consents thereto. Agent's
authorization to make Overadvances may be revoked at any time by the Majority Lenders delivering written notice of such revocation to
Agent. Any such revocation shall become effective prospectively upon Agent's receipt thereof.

 

1.1.3.       Swingline Loans.
In order to reduce the frequency of transfers of funds from Lenders to Agent for making Revolving Credit Loans and for so long as no Default
or Event of Default has occurred and is continuing, Agent shall be permitted (but not required) to make Revolving Credit Loans to Borrowers
upon request by Borrower Representative (such Revolving Credit Loans to be designated as "Swingline Loans"); provided
that the aggregate amount of Swingline Loans outstanding at any time will not (i) exceed $22,500,00025,000,000;
(ii) when added to the principal amount of Agent's other Revolving Credit Loans then outstanding plus Agent's Revolving Loan Percentage
of the LC Exposure, exceed Agent's Revolving Credit Commitment; or (iii) when added to the principal amount of all other Revolving
Credit Loans then outstanding plus the LC Exposure (other than the Cash Collateralized LC Exposure), exceed the Borrowing Base. Within
the foregoing limits, Borrowers may borrow, repay and reborrow Swingline Loans. All Swingline Loans shall be treated as Revolving Credit
Loans for purposes of this Agreement, except that (a) all Swingline Loans shall be Base Rate Portions and (b) notwithstanding
anything herein to the contrary (other than as set forth in the next succeeding sentence), all principal and interest paid with respect
to Swingline Loans shall be for the sole account of Agent in its capacity as the lender of Swingline Loans. Notwithstanding the foregoing,
not more than two Business Days after (1) Lenders receive notice from Agent that a Swingline Loan has been advanced in respect of
a drawing under a Letter of Credit or (2) in any other circumstance, demand is made by Agent after the occurrence and during the
continuance of an Event of Default, each Lender shall irrevocably and unconditionally purchase and receive from Agent, without recourse
or warranty from Agent, an undivided interest and participation in each Swingline Loan to the extent of such Lender's Revolving Loan Percentage
thereof, by paying to Agent, in same day funds, an amount equal to such Lender's Revolving Loan Percentage of such Swingline Loan. Agent
shall request settlement with the Lenders on a weekly basis, or on a more frequent basis if so determined by Agent in its sole discretion,
with respect to the outstanding Swingline Loans

 

1.1.4.       Agent
Loans. After the occurrence and during the continuance of an Event of Default, Agent may, in its sole and absolute discretion,
make Revolving Credit Loans on behalf of Lenders, in an aggregate amount not to exceed $17,500,000 (unless Majority Lenders
otherwise agree to a higher amount), if Agent, in its Reasonable Credit Judgment, deems that such Revolving Credit Loans are
necessary or desirable (i) to protect all or any portion of the Collateral or (ii) to enhance the likelihood, or maximize
the amount of, repayment of the Loans and the other Obligations or (iii) to pay any other amount chargeable to Borrowers
pursuant to this Agreement, including costs, fees and expenses as described in Section 2 (hereinafter, "Agent
Loans"); provided, that, unless Lenders otherwise consent, in no event shall the outstanding principal amount of the
Revolving Credit Loans exceed the aggregate Revolving Loan Commitments. Each Lender shall be obligated to advance its Revolving Loan
Percentage of each Agent Loan. If Agent Loans are made pursuant to the preceding sentence, then all Lenders that have committed to
make Revolving Credit Loans shall be bound to make, or permit to remain outstanding, such Agent Loans based upon their Revolving
Loan Percentages in accordance with the terms of this Agreement. Agent's
authorization to make Agent Loans may be revoked at any time by the Majority Lenders delivering written notice of such revocation to
Agent. Any such revocation shall become effective prospectively upon Agent's receipt thereof.

 

    -3-

     

    

 

1.2.          Letters
of Credit.

 

1.2.1.       Agreement to Issue
or Cause To Issue. Subject to the terms and conditions of this Agreement, the Issuing Lender agrees to issue, or cause an Underlying
Issuer to issue, for the account of Borrowers one or more commercial/documentary or standby letters of credit ("Letter of Credit").
If Issuing Lender, at its option, elects to cause an Underlying Issuer to issue a requested Letter of Credit, then Issuing Lender agrees
that it will enter into arrangements relative to the reimbursement of such Underlying Issuer (which may include, among, other means,
becoming an applicant with respect to such Letter of Credit or entering into undertakings which provide for reimbursements of such Underlying
Issuer with respect to such Letter of Credit; each such obligation or undertaking, irrespective of whether in writing, a "Reimbursement
Undertaking") with respect to Letters of Credit issued by such Underlying Issuer. Any "Letters of Credit" under and
as defined in the Existing Loan Agreement that are outstanding on the Second Restatement Effective Date shall be considered Letters of
Credit outstanding under this Agreement for all purposes of this Agreement and the other Loan Documents.

 

1.2.2.       Amounts; Outside Expiration
Date. The Issuing Lender shall have no obligation to issue a Letter of Credit or a Reimbursement Undertaking in respect of a Letter
of Credit, or cause Underlying Issuer to issue a Letter of Credit, in any case, at any time if: (i) the Letter of Credit is greater
than the Unused Letter of Credit Subfacility at such time; (ii) the issuance of a requested Letter of Credit would cause the principal
amount of the Obligations to exceed Availability at such time; or (iii) such Letter of Credit has an expiration date less than 14
days prior to the Stated Termination Date or more than 12 months from the date of issuance for standby letters of credit and 180 days
for commercial/documentary letters of credit. Unless otherwise consented to by Agent, all Letters of Credits must call for sight drafts
to be drawn and must be issued in US Dollars.

 

1.2.3.       Other Conditions.
In addition to conditions precedent contained in Section 9, the obligation of Issuing Lender to issue any Letter of Credit
or a Reimbursement Undertaking with respect to a Letter of Credit, or cause an Underlying Issuer to issue a Letter of Credit, is subject
to the following conditions precedent having been satisfied in a manner reasonably satisfactory to Issuing Lender:

 

(a)            Borrower
Representative shall have delivered to Issuing Lender at least three Business Days prior to the proposed date of issuance, an
application in customary form and substance and reasonably satisfactory to Issuing Lender and Underlying Issuer for the issuance of
the Letter of Credit, and such other documents as may be required pursuant to the terms thereof; and the form and terms of the
proposed Letter of Credit shall be reasonably satisfactory to Issuing Lender and Underlying Issuer, it being understood that if any
provision of any letter of credit application is inconsistent with any provision of this Agreement, then the provisions of this
Agreement shall govern to the extent of any such inconsistency; and

 

    -4-

     

    

 

(b)           as of the
date of issuance, no order of any court, arbitrator or Governmental Authority shall purport by its terms to enjoin or restrain Issuing
Lender or Undertaking Issuer from issuing letters of credit of the type and in the amount of the proposed Letter of Credit; and no law,
rule or regulation applicable to Issuing Lender or Undertaking Issuer and no request or directive (whether or not having the force
of law) from any Governmental Authority with jurisdiction over Issuing Lender or Undertaking Issuer shall prohibit, or request that Issuing
Lender or Undertaking Issuer refrain from the issuance of letters of credit generally or the issuance of such Letters of Credit.

 

1.2.4.       Disbursement Procedures.
Issuing Lender shall, or shall cause Underlying Issuer to, promptly after its receipt thereof, examine all documents purporting to represent
a demand for payment under a Letter of Credit. Issuing Lender shall promptly notify Agent and Borrower Representative by telephone, facsimile,
or e-mail of such demand for payment and whether Issuing Lender or Underlying Issuer has made or will make a disbursement pursuant thereto;
provided that any failure to give or delay in giving such notice will not relieve Borrowers of their obligation to reimburse Issuing
Lender, Underlying Issuer and Lenders with respect to any such disbursement.

 

1.2.5.       Payments Pursuant
to Letters of Credit. Any draw under a Letter of Credit shall immediately constitute an Obligation hereunder payable on demand, and
shall be deemed to constitute a request by Borrower Representative to Agent for a Borrowing of a Revolving Credit Loan that consists entirely
of a Base Rate Portion in the amount of such drawing. The funding date of each such Borrowing shall be the date of the applicable drawing.
Borrowers shall pay Issuing Lender and Underlying Issuer the amount of all other charges and fees payable to Issuing Lender or Underlying
Issuer, as applicable, in connection with any Letter of Credit immediately when due, irrespective of any claim, setoff, defense or other
right which Borrowers may have at any time against Issuing Lender, Underlying Issuer or any other Person.

 

1.2.6.       Indemnification; Assumption
of Risk by Borrowers; Certain Authorizations.

 

(a)           Indemnification.
In addition to amounts payable as elsewhere provided in this Section 1.2, Borrowers agree to protect, indemnify, pay and
save Lenders, Agent and Issuing Lender and Underlying Issuer harmless from and against any and all claims, demands, liabilities, damages,
losses, costs, charges and expenses (including reasonable attorneys' fees) which such Person may incur or be subject to as a consequence,
direct or indirect, of the issuance of any Letter of Credit. Borrowers' obligations under this subsection 1.2.6 shall survive
payment of all other Obligations.

 

    -5-

     

    

 

(b)           Assumption
of Risk by Borrowers. As among Borrowers, Lenders, Agent, Issuing Lender and Underlying Issuer, Borrowers assume all
risks of the acts and omissions of, or misuse of any of the Letters of Credit by, the respective beneficiaries of such Letters of
Credit. In furtherance and not in limitation of the foregoing, Lenders, Agent, Issuing Lender and Underlying Issuer shall not
be responsible for: (1) the form, validity, sufficiency, accuracy, genuineness or legal effect of any document submitted by any
Person in connection with the application for and issuance of and presentation of drafts with respect to any of the Letters of
Credit, even if it should prove to be in any or all respects invalid, insufficient, inaccurate, fraudulent or forged; (2) the
validity or sufficiency of any instrument transferring or assigning or purporting to transfer or assign any Letter of Credit or the
rights or benefits thereunder or proceeds thereof, in whole or in part, which may prove to be invalid or ineffective for any reason;
(3) the failure of the beneficiary of any Letter of Credit to comply duly with conditions required in order to draw upon such
Letter of Credit; (4) errors, omissions, interruptions, or delays in transmission or delivery of any messages, by mail, cable,
telegraph, telex or otherwise, whether or not they be in cipher; (5) errors in interpretation of technical terms; (6) any
loss or delay in the transmission or otherwise of any document required in order to make a drawing under any Letter of Credit or of
the proceeds thereof; (7) the misapplication by the beneficiary of any Letter of Credit of the proceeds of any drawing under
such Letter of Credit; (8) any consequences arising from causes beyond the reasonable control of such Person, including any act
or omission, whether rightful or wrongful, of any present or future de jure or de facto Governmental Authority; or
(9) Issuing Lender's or Underlying Issuer's honor of a draw for which the draw or any certificate fails to comply in any
respect with the terms of the Letter of Credit. None of the foregoing shall affect, impair or prevent the vesting of any rights or
powers of Agent or any Lender under this subsection 1.2.6. Without limiting the generality of the foregoing, it is expressly
understood and agreed that the absolute and unconditional obligation of Borrowers hereunder to reimburse drawings under Letters of
Credit will not be excused by any action, omission, or failure to act by any Person or any other circumstance and that, except as
provided in the following proviso, no action or omission by Agent, any Lender, Issuing Lender or Underlying Issuer in respect
of Letters of Credit shall result in any liability of any such Person to Borrowers; provided, however, that, the
foregoing shall not be construed to excuse Issuing Lender or Underlying Issuer from liability to any Borrower to the extent of any
direct damages (as opposed to special, indirect, consequential or punitive damages claims in respect of which are hereby waived by
Borrowers to the extent permitted by applicable law) suffered by such Borrower that are determined by a court of competent
jurisdiction by final and nonappealable judgment to have resulted from Issuing Lender's or Underlying Issuer's, as applicable, gross
negligence or willful misconduct in determining whether drafts and other documents presented under a Letter of Credit comply with
the terms thereof.

 

(c)           Certain Authorizations.
Borrowers hereby authorize and direct Issuing Lender and Underlying Issuer to name any one or more of the Borrowers as the "Account
Party" with respect to any Letter of Credit. Borrowers also authorize Issuing Lender and Underlying Issuer to deliver to Agent all
instruments, documents and other writings and Property received by Issuing Lender or Underlying Issuer pursuant to such Letter of Credit,
and to accept and rely upon Agent's instructions and agreements with respect to all matters arising in connection with the Letter of
Credit or the application therefor.

 

    -6-

     

    

 

 

1.2.7.            Participations
in Letters of Credit.

 

(a)            Purchase
of Participations. Immediately upon issuance of any Letter of Credit in accordance with subsection 1.2.1, each Lender shall
be deemed to have irrevocably and unconditionally purchased and received without recourse or warranty, an undivided interest and participation
equal to such Lender's Revolving Loan Percentage of the greater of the maximum face or the maximum available amount of such Letter of
Credit or, if applicable, the Reimbursement Undertaking pertaining to such Letter of Credit.

 

(b)           Sharing
of Reimbursement Obligation Payments. Whenever Agent receives a payment from Borrowers on account of reimbursement obligations in
respect of a Letter of Credit as to which Agent has previously received payment from a Lender, Agent shall promptly pay to such Lender
such Lender's Revolving Loan Percentage of such payment from Borrowers.

 

(c)            Documentation.
Upon the request of any Lender, Agent shall furnish to such Lender copies of any Letter of Credit, reimbursement agreements executed in
connection therewith, applications for any Letter of Credit, and such other documentation as may reasonably be requested by such Lender.

 

(d)           Obligations
Irrevocable. The obligations of each Lender to fund its ratable portion of Revolving Credit Loans to be made as a result of a drawing
under a Letter of Credit shall be irrevocable and shall not be subject to any qualification or exception whatsoever, including any of
the following circumstances:

 

(i)         any lack of validity
or enforceability of this Agreement or any of the other Loan Documents;

 

(ii)        the existence of any
claim, setoff, defense or other right which any Borrower may have at any time against a beneficiary named in a Letter of Credit or any
transferee of any Letter of Credit (or any Person for whom any such transferee may be acting), any Lender, Agent, Issuing Lender,
Underlying Issuer, or any other Person, whether in connection with this Agreement, any Letter of Credit, the transactions contemplated
herein or any unrelated transactions (including any underlying transactions between any Borrower or any other Person and the beneficiary
named in any Letter of Credit);

 

(iii)       any draft, certificate
or any other document presented under the Letter of Credit proving to be forged, fraudulent, invalid or insufficient in any respect or
any statement therein being untrue or inaccurate in any respect;

 

(iv)       the surrender or impairment
of any security for the performance or observance of any of the terms of any of the Loan Documents;

 

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

 

(vi)       the
failure of a Borrower to satisfy the applicable conditions precedent to the issuance thereof.

 

    	 	-7-	 

     

    

 

1.2.8.            Recovery or Avoidance
of Payments; Refund of Payments In Error. If any payment by or on behalf of any Borrower received by Agent or Underlying Issuer with
respect to any Letter of Credit and distributed by Agent to Lenders on account of their respective participations therein is thereafter
set aside, avoided or recovered from Agent or Underlying Issuer in connection with any receivership, liquidation or bankruptcy proceeding,
Lenders shall, upon demand by Agent, pay to Agent their respective Revolving Loan Percentages of such amount set aside, avoided or recovered,
together with interest at the rate required to be paid by Agent upon the amount required to be repaid by it. Unless Agent receives notice
from Borrower Representative prior to the date on which any payment is due to Lenders that Borrowers will not make such payment in full
as and when required, Agent may assume that Borrowers have made such payment in full to Agent on such date in immediately available funds
and Agent may (but shall not be so required), in reliance upon such assumption, distribute to each Lender on such due date an amount equal
to the amount then due such Lender. If and to the extent Borrowers have not made such payment in full to Agent, each Lender shall repay
to Agent on demand such amount distributed to such Lender, together with interest thereon at the Federal Funds Rate for each day from
the date such amount is distributed to such Lender until the date repaid.

 

1.2.9.            Indemnification by
Lenders. To the extent not reimbursed by Borrowers and without limiting the obligations of Borrowers hereunder, Lenders agree to indemnify
Issuing Lender and Underlying Issuer ratably in accordance with their respective Revolving Loan Percentages, for any and all liabilities,
obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses (including attorneys' fees) or disbursements of any
kind and nature whatsoever that may be imposed on, incurred by or asserted against Issuing Lender or Underlying Issuer, as applicable,
in any way relating to or arising out of any Letter of Credit or the transactions contemplated thereby or any action taken or omitted
by Issuing Lender or Underlying Issuer, as applicable, under any Letter of Credit or any Loan Document in connection therewith; provided
that no Lender shall be liable for any of the foregoing to the extent it arises from the gross negligence or willful misconduct of the
Person to be indemnified. Without limitation of the foregoing, each Lender agrees to reimburse Issuing Lender and Underlying Issuer promptly
upon demand for its Revolving Loan Percentage of any costs or expenses payable by Borrowers to Issuing Lender or Underlying Issuer, to
the extent that such Person is not promptly reimbursed for such costs and expenses by Borrowers. The agreement contained in this Section shall
survive payment in full of all other Obligations.

 

1.2.10.          Supporting Letter
of Credit; Cash Collateral. If, notwithstanding the provisions of subsection 1.2.2 and Section 4, any Letter of
Credit is outstanding upon the termination of this Agreement, then upon such termination, Borrowers shall deposit with Agent, for the
ratable benefit of Agent and Lenders, with respect to each Letter of Credit then outstanding, either (i) a standby letter of credit
in form and substance reasonably satisfactory to Agent, issued by an issuer reasonably satisfactory to Agent (a "Supporting Letter
of Credit") or (ii) cash collateral, in either case in an amount equal to 105% of the greatest amount for which such Letter
of Credit may be drawn plus any fees and expenses associated with such Letter of Credit, under which Supporting Letter of Credit or cash
collateral Agent shall be entitled to draw amounts necessary to reimburse Agent and Lenders for payments to be made by Agent and Lenders
under such Letter of Credit and any fees and expenses associated with such Letter of Credit. Such Supporting Letter of Credit or cash
collateral shall be held by Agent, for the ratable benefit of Agent and Lenders, as security for, and to provide for the payment of, the
aggregate undrawn amount of such Letters of Credit remaining outstanding.

 

1.2.11.          Optional Cash Collateral
for Letters of Credit. At Borrowers' written election to Agent which election may be made at any time, Borrowers may deposit with
Agent, for the ratable benefit of Agent and Lenders, with respect to any Letter of Credit then outstanding, cash collateral in an amount
equal to 105% of the greatest amount for which such Letter of Credit may be drawn plus any fees and expenses associated with such Letter
of Credit, which cash collateral shall be security for the Obligations. Agent shall be entitled to apply amounts necessary to reimburse
Agent and Lenders for payments to be made by Agent and Lenders under such Letter of Credit and any fees and expenses associated with such
Letter of Credit. The LC Exposure with respect to any such Letter of Credit cash collateralized as provided in this subsection 1.2.11
shall be referred to as "Cash Collateralized LC Exposure." At Borrowers' written election to Agent, Agent shall release
the cash collateral held with respect to such Letter of Credit; provided, that Agent shall not release such cash collateral to
Borrowers if an Event of Default exists or would be caused thereby or after giving effect to such release, an Overadvance exists or would
exist.

 

    	 	-8-	 

     

    

 

1.3.          Uncommited
Facility Increase.

 

1.3.1.            Borrower Representative
may from time to time, at any time after the Fourth Amendment Effective Date,
request an increase in the Revolving Credit Maximum Amount and the aggregate Revolving Loan Commitments by an aggregate amount
of up to $50,000,000 (each such increase, a "Uncommitted Facility Increase"). Each Uncommitted Facility Increase shall
be made on notice given by Borrower Representative to Agent no later than 12:00 noon (New York City time) 30 days (or such shorter time
as Agent may agree) prior to the date of the proposed Uncommitted Facility Increase. Each such notice (a "Notice of Uncommitted
Facility Increase") shall (i) specify the date of such proposed Uncommitted Facility Increase (the "Uncommitted
Facility Increase Effective Date"), (ii) specify the aggregate amount of such proposed Uncommitted Facility Increase, which
shall be in an amount not less than $10,000,000 (the "Uncommitted Facility Increase Amount"), and (iii) certify
that, at such time, no Default or Event of Default shall have occurred and be continuing (provided that by accepting a requested Uncommitted
Facility Increase, Borrowers shall be deemed to have represented to Lenders that no Default or Event of Default shall have occurred and
be continuing at the time the Uncommitted Facility Increase becomes effective).

 

1.3.2.           
Agent shall give each Lender prompt notice of Agent's receipt of a Notice of Uncommitted Facility Increase. Agent may approach the
existing Lenders to provide the Uncommitted Facility Increase, or, at Borrowers' request, Agent shall invite such other financial
institutions selected by Borrowers and reasonably acceptable to Agent to provide the Uncommitted Facility Increase and become
Lenders (such existing Lenders and other financial institutions, the "Uncommitted Facility Increase Offerees").
Each Uncommitted Facility Increase Offeree shall have until 3:00 p.m. (New York City time) on the fifth Business Day preceding
the Uncommitted Facility Increase Effective Date to commit in writing to all or a portion of the Uncommitted Facility Increase. If
the Uncommitted Facility Increase Offerees deliver commitments with respect to such Uncommitted Facility Increase in an amount in
excess of the Uncommitted Facility Increase Amount, then Agent shall allocate the Uncommitted Facility Increase to the Uncommitted
Facility Increase Offerees committing to the Uncommitted Facility Increase on any basis Agent determines appropriate in consultation
with Borrower Representative. On the Uncommitted Facility Increase Effective Date, (A) each Uncommitted Facility Increase
Offeree committing to a portion of such Uncommitted Facility Increase shall execute an assumption agreement reasonably satisfactory
to Agent pursuant to which such Uncommitted Facility Increase Offeree agrees to be bound by the terms of this Agreement as a Lender,
(B) the Revolving Credit Maximum Amount and the Revolving Loan Commitments will be increased by the Uncommitted Facility
Increase Amount in accordance with the allocations determined by Agent, and (C) each Lender, after giving effect to such
Uncommitted Facility Increase, shall purchase or sell the Loans held by it from or to the other Lenders, as directed by Agent, such
that after giving effect to such purchases and sales each Lender holds its ratable portion of the outstanding Loans. If the
commitments of the Uncommitted Facility Increase Offerees in respect of such Uncommitted Facility Increase are less than the
Uncommitted Facility Increase Amount, none of the Lenders shall have any obligation to commit to the uncommitted portion of such
Uncommitted Facility Increase, and Borrower Representative may elect either to reduce the Uncommitted Facility Increase Amount
accordingly (but if less than $10,000,000, Agent shall have consented to such lesser amount) or to terminate the request for a
Uncommitted Facility Increase. Notwithstanding the foregoing, no Uncommitted Facility Increase shall be effected unless the
conditions set forth in Section 9.2 are satisfied on the Uncommitted Facility Increase Effective Date. No Lender shall
be obligated to commit to any portion of the Uncommitted Facility Increase Amount.

 

    	 	-9-	 

     

    

 

1.4.          Effect
of Amendment and Restatement; Release.

 

1.4.1.            Upon the execution and
delivery of this Agreement, the Indebtedness, liabilities and other obligations (including, without limitation, interest and fees accrued
to the date hereof) governed by the Existing Loan Agreement (collectively, the "Existing Obligations") shall continue
to be in full force and effect, but shall be governed by the terms and conditions set forth in this Agreement. The Existing Obligations,
together with any and all additional Obligations incurred by any Borrower hereunder or under any of the other Loan Documents, shall continue
to be secured by all of the pledges and grants of security interests provided in connection with the Existing Loan Agreement (and, from
and after the date hereof, shall be secured by all of the pledges and grants of security interests provided in connection with this Agreement),
all as more specifically set forth in this Agreement and the other Loan Documents. Each Borrower hereby reaffirms its obligations under
each Loan Document (as defined in the Existing Loan Agreement, collectively, the "Existing Loan Documents") to which
it is party, as amended, supplemented or otherwise modified by this Agreement and by the other Loan Documents delivered on the Second
Restatement Effective Date. Each Borrower further agrees that each Existing Loan Document (as amended, restated, supplemented or otherwise
modified on or prior to the Second Restatement Effective Date) shall remain in full force and effect following the execution and delivery
of this Agreement and that all references to the "Loan Agreement" in any such Existing Loan Document shall be deemed to refer
to this Agreement. The execution and delivery of this Agreement shall constitute an amendment and restatement, but not a novation or repayment,
of the Existing Obligations.

 

    	 	-10-	 

     

    

 

1.4.2.            In
consideration of the agreements of Agent and Lenders contained herein and for other good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, each Loan Party, on behalf of itself and its successors and assigns hereby absolutely,
unconditionally and irrevocably releases, remises and forever discharges (the "Release") Agent and Lenders, and
their successors and assigns, and their present and former shareholders, affiliates, subsidiaries, divisions, predecessors,
directors, officers, attorneys, employees, agents and other representatives (Agent, each Lender and all such other Persons being
hereinafter referred to collectively as the "Releasees" and individually as a "Releasee"), of and
from all actions, causes of action, suits and any and all other claims and rights of set-off whatsoever (individually, a " Claim"
and collectively, "Claims") of every name and nature, known or unknown, suspected or unsuspected, both at law and
in equity, which such Loan Party or any of its respective successors or assigns may now or hereafter own, hold, have or claim to
have against the Releasees or any of them for or on account of or in relation to any of the Existing Loan Agreement, this Agreement
or any of the other Loan Documents or transactions thereunder which arises at any time on or prior to the day and date of this
Agreement; provided, that the foregoing Release shall not apply, and shall have no effect with respect to any Claim, whether
arising on, prior to or after the date of this Agreement, for or on account of, or in relation to, any Bank Product. Each Loan Party
understands, acknowledges and agrees that the release set forth above may be pleaded as a full and complete defense and may be used
as a basis for an injunction against any action, suit or other proceeding which may be instituted, prosecuted or attempted in breach
of the provisions of such release. Each Loan Party agrees that no fact, event, circumstance, evidence or transaction which could now
be asserted or which may hereafter be discovered shall affect in any manner the final, absolute and unconditional nature of the
release set forth above.

 

SECTION 2. INTEREST, FEES AND CHARGES

 

2.1.          Interest.

 

2.1.1.            Rates of Interest.
Interest shall accrue on the principal amount of the Base Rate Portions outstanding at the end of each day at a fluctuating rate per annum
equal to the Applicable Margin then in effect plus the Base Rate. Said rate of interest shall increase or decrease by an amount
equal to any increase or decrease in the Base Rate, effective as of the opening of business on the day that any such change in the Base
Rate occurs. If Borrower Representative exercises the LIBORSOFR
Option as provided in Section 3.1, interest shall accrue on the principal amount of the LIBORSOFR
Portions outstanding at the end of each day at a rate per annum equal to the Applicable Margin then in effect plus the LIBOR
RateAdjusted Term SOFR applicable to each LIBORSOFR
Portion for the corresponding Interest Period.

 

2.1.2.            Default Rate of Interest
and Default Letter of Credit Fee. At the option of the Majority Lenders, after the occurrence and during the continuance of an Event
of Default, (a) all of the Obligations shall bear interest at a rate per annum equal to 2.0% plus the interest rate otherwise
applicable thereto (the "Default Rate") and (b) the Letter of Credit fee set forth in subsection 2.4(a) shall
be increased by 200 basis points.

 

2.1.3.            Maximum Interest.
In no event whatsoever shall the aggregate of all amounts deemed interest hereunder and charged or collected pursuant to the terms of
this Agreement exceed the highest rate permissible under any law which a court of competent jurisdiction shall, in a final determination,
deem applicable hereto (the "Maximum Rate"). If any provisions of this Agreement are in contravention of any such law,
such provisions shall be deemed amended to conform thereto. If at any time the amount of interest paid hereunder is limited by the Maximum
Rate, and the rate at which interest accrues hereunder is subsequently below the Maximum Rate, the rate at which interest accrues hereunder
shall remain at the Maximum Rate, until such time as the aggregate interest paid hereunder equals the amount of interest that would have
been paid had the Maximum Rate not applied.

 

    	 	-11-	 

     

    

 

2.1.4.
            Rates. The
interest rate on LIBOR Rate Loans and Base Rate Loans (when determined by reference to clause (b) of the definition of Base
Rate) may be determined by reference to LIBOR, which is derived from the London interbank offered rate. The London interbank offered
rate is intended to represent the rate at which contributing banks may obtain short-term borrowings from each other in the London
interbank market. On March 5, 2021, ICE Benchmark Administration
(“IBA”), the administrator of the London interbank offered rate, and the
Financial Conduct Authority (the “FCA”), the regulatory supervisor of IBA,
announced in public statements (the “Announcements”) that the final publication
or representativeness date for the London interbank offered rate for Dollars for: (a) 1-week and 2-month tenor settings will be
December 31, 2021 and (b) overnight, 1-month, 3-month, 6-month and 12-month tenor settings will be June 30, 2023. No
successor administrator for IBA was identified in such Announcements. As a result, it is possible that commencing immediately after
such dates, the London interbank offered rate for such tenors may no longer be available or may no longer be deemed a representative
reference rate upon which to determine the interest rate on LIBOR Rate Loans or Base Rate Loans (when determined by reference to
clause (b) of the definition of Base Rate). There is no assurance that the dates set forth in the Announcements will not change
or that IBA or the FCA will not take further action that could impact the availability, composition or characteristics of any London
interbank offered rate. Public and private sector industry initiatives have been and continue, as of the date hereof, to be underway
to implement new or alternative reference rates to be used in place of the London interbank offered rate. In the event that the
London interbank offered rate or any other then-current Benchmark is no longer available or in certain other circumstances set forth
in Section 3.13.3, such Section 3.13.3 provides
a mechanism for determining an alternative rate of interest. The Agent will notify the Borrowers, pursuant to Section 3.13.3,
of any change to the reference rate upon which the interest rate on LIBOR Rate Loans and Base Rate Loans (when determined by
reference to clause (b) of the definition of Base Rate) is based. However, the Agent does not warrant or accept
any responsibility for, and shall not have any liability with respect to, (ia)
the continuation
of, administration of, submission of, calculation of or any other matter related to the London
interbank offered rate or otherTerm
SOFR Reference Rate, Adjusted Term SOFR, Term SOFR or any other Benchmark, any component definition thereof or rates referred
to in the definition of “LIBOR” or thereof,
or with respect to any alternative, comparable or successor rate
thereto, or replacement rate thereofthereto (including
any then-current Benchmark or any Benchmark Replacement), including whether the composition or characteristics of any such
alternative, successor or replacement reference rate (including any Benchmark
Replacement), as it may or may not be adjusted pursuant to Section 3.13.3, will be similar to, or produce the same value
or economic equivalence of, LIBOR or any other Benchmark, or have the same volume
or liquidity as did, the London
interbank offered rateTerm
SOFR Reference Rate, Adjusted Term SOFR, Term SOFR or any other Benchmark, prior
to its discontinuance or unavailability, or (iib)
the effect, implementation or composition of any Benchmark Replacement Conforming
Changes. Agent
and its affiliates or other related entities may engage in transactions that affect the calculation of the Term SOFR Reference Rate,
Adjusted Term SOFR, Term SOFR, any alternative, successor or replacement rate (including any Benchmark Replacement) or any relevant
adjustments thereto and such transactions may be adverse to a Borrower. Agent may select information sources or services in its
reasonable discretion to ascertain the Term SOFR Reference Rate, Adjusted Term SOFR or Term SOFR, or any other Benchmark, any
component definition thereof or rates referred to in the definition thereof, in each case pursuant to the terms of this Agreement,
and shall have no liability to any Borrower, any Lender or any other person or entity for damages of any kind, including direct or
indirect, special, punitive, incidental or consequential
damages, costs, losses or expenses (whether in tort, contract or otherwise and whether at law or in equity), for any error or
calculation of any such rate (or component thereof) provided by any such information source or service.

 

    	 	-12-	 

     

    

 

2.1.5.          
Term SOFR Conforming Changes. In connection with the use or administration of Term SOFR, Agent will have the right to make Conforming
Changes from time to time and, notwithstanding anything to the contrary herein or in any other Loan Document, any amendments implementing
such Conforming Changes will become effective without any further action or consent of any other party to this Agreement or any other
Loan Document. Agent will promptly notify Borrower Representative and the Lenders of the effectiveness of any Conforming Changes in connection
with the use or administration of Term SOFR.

 

2.2.          Computation
of Interest and Fees.

 

Interest on LIBORSOFR
Portions and Letter of Credit fees shall be calculated daily and shall be computed on the actual number of days elapsed over a year of
360 days, and interest on Base Rate Portions and all other Obligations shall be calculated daily and computed on the actual number of
days elapsed over a year of 365 days (or 366 days, as the case may be). For the purpose of computing interest hereunder, all items of
payment received by Agent shall be deemed applied by Agent on account of the Obligations (subject to final payment of such items) on the
Business Day that such funds become immediately available to Agent in an account in Agent's name.

 

2.3.          Fee
Letter.

 

Borrowers shall pay to Agent
certain fees and other amounts in accordance with the terms of the Second Amended and Restated Fee Letter between Borrowers and Agent
dated as of the Second Restatement Effective Date, as amended, restated, supplemented or modified from time to time (the "Fee
Letter").

 

2.4.            Letter
of Credit Fees.

 

Borrowers shall pay to Agent:

 

  (a)         (i) for
all Letters of Credit (other than Letters of Credit with respect to which the LC Exposure constitutes Cash Collateralized LC Exposure),
for the ratable benefit of Lenders a per annum fee equal to 1.25% multiplied by the aggregate undrawn face amount of such Letters of Credit
outstanding from time to time during the term of this Agreement, which fee shall be due and payable quarterly in arrears on the first
Business Day of each January, April, July, and October of each year, and (ii) for all Letters of Credit with respect to which
the LC Exposure constitutes Cash Collateralized LC Exposure, for the ratable benefit of Lenders a per annum fee equal to 0.75% multiplied
by the aggregate undrawn face amount of such Letters of Credit outstanding from time to time during the term of this Agreement, which
fee shall be due and payable quarterly in arrears on first Business Day of each January, April, July, and October of each year.

 

    	 	-13-	 

     

    

 

  (b)        with
respect to all Letters of Credit, for the account of Underlying Issuer only, a per annum usage fee equal to 0.125% multiplied by the aggregate
undrawn face amount of such Letters of Credit outstanding from time to time during the term of this Agreement, which usage fee shall be
due and payable quarterly in arrears on first Business Day of each January, April, July, and October of each year; and

 

  (c)
        with respect to all Letters of Credit, for the account of Underlying Issuer, (A)
such normal and customary issuance, processing and administration charges associated therewith and (B) such presentation,
amendment, renewal and other costs and charges of the Underlying Issuer as are charged to customers similarly situated to Borrowers
from time to time (it being understood that Agent has previously delivered to Borrowers a list of the amount of such fees, costs and
charges in effect as of the Second Restatement Effective Date). All such fees, costs and charges shall be due and payable when
incurred. The issuance charges shall be deemed fully earned by Underlying Issuer upon issuance of the applicable Letter of
Credit.

 

2.5.            Unused
Line Fee.

 

Borrowers shall pay to Agent,
for the ratable benefit of Lenders, a fee (the "Unused Line Fee") equal to the Unused Line Fee Applicable Margin multiplied
by the average daily amount by which (a) the Revolving Credit Maximum Amount exceeds (b) the sum of (i) the outstanding
principal balance of the Revolving Credit Loans and (ii) the LC Exposure (the excess of (a) over (b), the "Unused Line");
provided, that for purposes of allocating the Unused Line Fee among Lenders, outstanding Swingline Loans shall not be included
as part of the outstanding balance of the Loans for purposes of calculating such fees owed to Lenders other than Agent. The Unused Line
Fee shall be payable quarterly in arrears on January 1, April 1, July 1, and October 1 of each year.

 

2.6.            Audit
and Appraisal Fees.

 

Borrowers shall pay to Agent
(a) audit fees and expenses in connection with audits (including visits to the facilities of the Borrowers) of the books and records
and the amount, value, location, and types of Collateral, which audit fees and expenses shall consist of an $1,000 per day per field examiner
charge for employees of Agent plus all reasonable and documented out-of-pocket expenses incurred by Agent in connection with such audits,
whether such audits are conducted by employees of Agent or by third parties hired by Agent, and (b) the actual charges paid or incurred
by Agent if it elects to employ the services of one or more third persons to appraise the Collateral, or any portion thereof. Notwithstanding
the foregoing, so long as no Default or Event of Default has occurred and is continuing, Borrowers' obligation to pay for

 

(a) audits in any 12-month period shall be
limited as follows (it being understood that Agent shall not be prohibited from conducting additional audits at its own expense): (i) so
long as, as of any date of determination during such 12-month period, Availability remains greater than or equal to the greater of (A) an
amount equal to 10% of the Line Cap as of such date and (B) $12,500,00017,850,000,
one audit, and (ii) otherwise, two audits; and (b) appraisals in any 12-month period shall be limited as follows (it being understood
that Agent shall not be prohibited from conducting additional appraisals at its own expense): (i) so long as, as of any date of determination
during such 12-month period, Availability remains greater than or equal to the greater of (A) an amount equal to 10% of the Line
Cap as of such date and (B) $12,500,00017,850,000,
one appraisal, and (ii) otherwise, two appraisals.

 

    	 	-14-	 

     

    

 

2.7.            Reimbursement
of Expenses.

 

Borrowers agree to
reimburse (i) Agent for all reasonable and documented out-of-pocket costs and expenses (including legal fees and expenses of
Agent's external counsel) of Agent associated with this Agreement or any of the other Loan Documents and the transactions
contemplated hereby and thereby, including (A) the negotiation and preparation of this Agreement or any of the other Loan
Documents, any amendment of or modification of this Agreement or any of the other Loan Documents, or any syndication or attempted
syndication of the Obligations and (B) the administration of this Agreement or any of the other Loan Documents and the
transactions contemplated hereby and thereby; and (ii) Agent or any Lender for reasonable and documented legal or accounting
expenses or any other reasonable and documented costs or out-of-pocket expenses in connection with (A) any litigation, contest,
dispute, suit, proceeding or action (whether instituted by Agent, any Lender, any Borrower or any other Person) relating to the
Collateral, this Agreement or any of the other Loan Documents, (B) any attempt to enforce any rights of Agent or any Lender
against any Borrower or any other Person which may be obligated to Agent or any Lender by virtue of this Agreement or any of the
other Loan Documents, including the Account Debtors, or (C) after the occurrence and during the continuance of an Event of
Default, any attempt to inspect, verify, protect, preserve, restore, collect, sell, liquidate or otherwise dispose of or realize
upon the Collateral; provided that Borrowers shall not be responsible to Agent or any Lender for such costs and out-of-pocket
expenses to the extent determined by a court of competent jurisdiction by final and nonappealable judgment to have resulted from the
gross negligence or willful misconduct of such Person or to the extent such costs and expenses result from a claim brought by
Borrowers against Agent or any Lender for breach in bad faith of such Person's obligations hereunder if Borrowers have obtained a
final and nonappealable judgment from a court of competent judgment in Borrowers' favor on such claim.

 

2.8.            Payment
of Charges.

 

All amounts properly
chargeable to Borrowers under any Loan Document shall be Obligations, shall be, unless specifically otherwise provided, payable on
demand, and shall bear interest from the date demand was made or such amount is due, as applicable, until paid in full at the rate
applicable to the Base Rate Portion from time to time; provided, that amounts chargeable to Borrowers under Sections
2.6 and 2.7 shall be due and payable within 2 Business Days following the date of issuance by Agent of a reasonably
detailed invoice and request for payment thereof to Borrower Representative. Borrowers hereby authorize Agent, from time to time
without prior notice to Borrowers, to charge all interest, Letter of Credit fees, and all other fees payable hereunder or under any
of the other Loan Documents, any Product Obligations of the type described in clause (i) of the definition of Bank Products
owing to WFCF or any of its Affiliates, all costs and expenses payable hereunder or under any of the other Loan Documents, all
charges, commissions, fees, and costs provided for in the Loan Documents, and all other payments under any Loan Document, to the
Loan Account if such interest, Product Obligation, charge, commission, fee, cost or expense is not paid by the Borrowers on the date
such payment is due and payable (without giving effect to any grace periods prior to which such nonpayment would constitute an Event
of Default), which amounts thereafter shall constitute Revolving Credit Loans hereunder and shall accrue interest at the rate then
applicable to Revolving Credit Loans that are Base Rate Loans. Any interest, fees, costs, expenses, or other amounts payable
hereunder or under any other Loan Document charged to the Loan Account shall thereafter constitute Revolving Credit Loans hereunder
and shall accrue interest at the rate then applicable to Revolving Credit Loans that are Base Rate Loans (unless and until converted
into LIBORSOFR
Rate Loans in accordance with the terms of this Agreement).

 

    	 	-15-	 

     

    

 

 2.9.            No Deductions.

 

  (a)              Any
and all payments or reimbursements made hereunder shall be made free and clear of and without deduction for any and all Taxes, and all
liabilities with respect thereto; excluding, however, Excluded Taxes (all such non-Excluded Taxes, levies, imposts, deductions, charges
or withholdings and all liabilities with respect thereto, "Tax Liabilities"). If any Borrower shall be required by law
to deduct any such Tax Liabilities from or in respect of any sum payable hereunder to Agent or any Lender, then the sum payable hereunder
shall be increased as may be necessary so that, after all required deductions are made, Agent or such Lender receives an amount equal
to the sum it would have received had no such deductions been made. Any Borrower that is required to deduct and withhold for any such
Tax Liabilities from any payment to Agent or a Lender shall furnish to Agent and such Lender as promptly as possible after the date the
payment of any such Tax Liability is due pursuant to applicable law, certified copies of tax receipts evidencing such payment by such
Borrower.

 

  (b)
              A Lender or transferee of Lender shall
not be entitled to any additional payments under subsection 2.9(a) before it has satisfied the requirements of subsection
12.1.3. If any Lender becomes subject to any Tax Liability and is not entitled to any additional payments under subsection
2.9(a) Borrowers shall take such steps (at such Foreign Lender's expense) as such Foreign Lender shall reasonably request
to assist such Foreign Lender to recover such Tax Liability.

 

  (c)              Borrowers
agree to pay any present or future stamp, value added or documentary taxes or any other excise or property taxes, charges, or similar
levies (collectively, "Other Taxes") that arise from any payment made hereunder or from the execution, delivery, performance,
recordation, or filing of, or otherwise with respect to this Agreement or any other Loan Document.

 

  (d)              Borrowers
on a joint and several basis shall indemnify the Agent and each Lender within 10 days after demand therefor, for the full amount of any
Tax Liabilities and/or Other Taxes (including any taxes imposed on or attributable to amounts payable under this Section) paid by Agent
or such Lender, as the case may be, and any penalties, interest, and costs and expenses arising therefrom or with respect thereto (but
excluding penalties, interest or expenses to the extent attributable to the gross negligence or willful misconduct of the Person claiming
such indemnity) whether or not such Tax Liabilities or Other Taxes were correctly or legally imposed or asserted by the relevant Governmental
Authority. A certificate as to the amount of such payment or liability to delivered to Borrower by a Lender (with a copy to the Agent)
or by the Agent on its own behalf or on behalf of a Lender, shall be conclusive, absent manifest error.

 

    	 	-16-	 

     

    

 

 

SECTION 3. LOAN ADMINISTRATION

 

3.1.          Manner
of Borrowing Revolving Credit Loans/LIBORSOFR
Option.

 

Borrowings under the credit
facility established pursuant to Section 1 hereof shall be as follows:

 

3.1.1.               Loan Requests.
A request for a Revolving Credit Loan shall be made, or shall be deemed to be made, in the following manner: (a) Borrower Representative
shall give Agent notice of its intention to borrow, which notice shall be irrevocable and shall specify (i) the amount of the proposed
borrowing of a Revolving Credit Loan (which shall be no less than $500,000 or an integral multiple of $100,000 in excess thereof in the
case of LIBORSOFR
Portions (it being understood that there shall be no minimum borrowing amount with respect to Base Rate Portions)) and (ii) the proposed
borrowing date, which shall be a Business Day (and a U.S. Government Securities
Business Day in the case of SOFR Portions), no later than 1:00 pm (New York City time) on the proposed borrowing date (or in
accordance with subsection 3.1.6, 3.1.7 or 3.1.8, as applicable, in the case of a request for a LIBORSOFR
Portion); provided, however, that no such request may be made after the occurrence and during the continuance of a Default
or an Event of Default; and (b) any amount charged to the Loan Account pursuant to Section 2.8, shall be deemed irrevocably
to be a request for a Revolving Credit Loan on the date so charged.

 

3.1.2.               Disbursement.
Borrowers hereby irrevocably authorize Agent to disburse the proceeds of each Revolving Credit Loan requested or deemed to be requested
pursuant to subsection 3.1.1 as follows: (i) the proceeds of each Revolving Credit Loan requested pursuant to clause (a) of
subsection 3.1.1 shall be disbursed by Agent in lawful money of the United States of America in immediately available funds, (A) in
the case of any Borrowing on the Second Restatement Effective Date, if any, in accordance with the terms of the written disbursement letter
from Borrower Representative, and (B) in the case of each subsequent Borrowing, by wire transfer to such bank account as may be specified
by Borrower Representative to Agent from time to time pursuant to a written direction, and (ii) the proceeds of each Revolving Credit
Loan deemed requested pursuant to clause (b) of subsection 3.1.1 shall be disbursed by way of direct payment of the relevant
Obligation. If at any time any Loan is funded by Agent or Lenders in excess of the amount requested or deemed requested by Borrower Representative,
Borrowers agree to repay the excess to Agent (without interest) promptly after the earlier to occur of (a) any Borrower's discovery
of the error and (b) notice thereof to Borrower Representative from Agent or any Lender, and the failure of Borrowers to so return
any such excess shall be deemed to be an irrevocable request for a Revolving Credit Loan on the date such excess was received by Borrowers
in the amount of such excess.

 

    -17- 

     

    

 

3.1.3.               Payment
by Lenders.

 

(a)           Agent
shall give to each Lender prompt written notice by facsimile, telex or cable of the receipt by Agent from Borrower Representative of
any request for a Revolving Credit Loan. Each such notice shall specify the requested date and amount of such Revolving Credit Loan,
whether such Revolving Credit Loan shall be subject to the LIBORSOFR
Option, and the amount of each Lender's advance thereunder (in accordance with its applicable Revolving Loan Percentage). Each
Lender shall, not later than 2:00 p.m. (New York, New York time) on such requested date, wire to a bank designated by Agent the
amount of that Lender's Revolving Loan Percentage of the requested Revolving Credit Loan. The failure of any Lender to make the
Revolving Credit Loans to be made by it shall not release any other Lender of its obligations hereunder to make its Revolving Credit
Loan. Neither Agent nor any Lender shall be responsible for the failure of any other Lender to make the Revolving Credit Loan to be
made by such other Lender. The foregoing notwithstanding, Agent, in its sole discretion, may from its own funds make a Revolving
Credit Loan on behalf of any Lender. In such event, the Lender on behalf of whom Agent made the Revolving Credit Loan shall
reimburse Agent for the amount of such Revolving Credit Loan made on its behalf, on a weekly (or more frequent, as determined by
Agent in its sole discretion) basis. On each such settlement date, Agent will pay to each Lender the net amount owing to such Lender
in connection with such settlement, including amounts relating to Loans, fees, interest and other amounts payable hereunder. The
entire amount of interest attributable to such Revolving Credit Loan for the period from the date on which such Revolving Credit
Loan was made by Agent on such Lender's behalf until Agent is reimbursed by such Lender, shall be paid to Agent for its own
account.

 

(b)           If
Agent makes Revolving Credit Loans available to Borrowers and any Lender fails to either make available to Agent its Revolving Loan
Percentage of such Revolving Credit Loan or reimburse Agent as provided in paragraph (a) above, Agent will notify Borrower
Representative of any failure to fund by such Defaulting Lender and, upon demand by Agent, Borrowers shall pay such amount to Agent
for Agent's account, together with interest thereon for each day elapsed since the date of such borrowing, at a rate per annum equal
to the interest rate applicable at the time to the Revolving Credit Loans comprising that particular borrowing. Agent shall not be
obligated to transfer to a Defaulting Lender any payments made by Borrowers to Agent for the Defaulting Lender's benefit; nor shall
a Defaulting Lender be entitled to the sharing of any payments hereunder. Amounts payable to a Defaulting Lender shall instead be
paid to or retained by Agent. In its discretion, Agent may, in connection with disbursing the proceeds of Revolving Credit Loans
made pursuant to a notice of borrowing, include in such disbursement the amount of all such payments received or retained by it for
the account of such Defaulting Lender. Any amounts so loaned to Borrowers shall bear interest at the rate applicable to Base Rate
Portions and for all other purposes of this Agreement shall be treated as if they were Revolving Credit Loans; provided, however,
that for purposes of voting or consenting to matters with respect to the Loan Documents and determining Revolving Loan Percentages,
such Defaulting Lender shall be deemed not to be a "Lender". Until a Defaulting Lender cures its failure to fund its
Revolving Loan Percentage of any borrowing (A) such Defaulting Lender shall not be entitled to any portion of the Unused Line
Fee, (B) the Unused Line Fee shall accrue in favor of Lenders which have funded their respective Revolving Loan Percentages of
such requested borrowing and shall be allocated among such performing Lenders ratably based upon their relative Revolving Loan
Commitments calculated without regard to the Revolving Loan Commitments of the Defaulting Lender, and (C) the Unused Line Fee
shall be calculated as if the Defaulting Lender's entire Revolving Loan Commitment had been funded. This subsection
3.1.3(b) shall remain effective with respect to a Defaulting Lender until such time as such Lender shall no longer be in
default of any of its obligations under this Agreement. The terms of this subsection 3.1.3(b) shall not be construed to
increase or otherwise affect the Revolving Loan Commitment of any Lender, or relieve or excuse the performance by any Borrower of
its duties and obligations hereunder. Any payments by Borrower pursuant to this subsection 3.1.3(b) on account of a
Defaulting Lender shall be without prejudice to any claims Borrowers may have against such Defaulting Lender. Subject to
Section 12.22, no reallocation hereunder shall constitute a waiver or release of any claim of any party hereunder against a
Defaulting Lender arising from that Lender having become a Defaulting Lender, including any claim of a non-Defaulting Lender as a
result of such non-Defaulting Lender’s increased exposure following such reallocation.

 

    -18- 

     

    

 

3.1.4.               Issuance
of Letters of Credit.

 

(a)           Request
for Issuance. Borrower Representative shall notify Issuing Lender of a requested Letter of Credit at least three Business Days prior
to the proposed issuance date. Such notice shall be irrevocable and shall specify the original face amount of the Letter of Credit requested,
the Business Day of issuance of such requested Letter of Credit, whether such Letter of Credit may be drawn in a single or in partial
draws, the Business Day on which the requested Letter of Credit is to expire and the beneficiary of the requested Letter of Credit. Borrower
Representative shall attach to such notice the proposed form of the Letter of Credit.

 

(b)           Responsibilities
of Agent; Issuance. As of the Business Day immediately preceding the requested issuance date of the Letter of Credit, Agent shall
determine the amount of the applicable Unused Letter of Credit Subfacility and Availability. If (i) the face amount of the requested
Letter of Credit is less than the Unused Letter of Credit Subfacility and (ii) the amount of such requested Letter of Credit would
not exceed Availability, Agent shall so notify Issuing Lender and Issuing Lender shall, or shall cause Underlying Issuer to, issue the
requested Letter of Credit on the requested issuance date so long as the other conditions hereof are met.

 

(c)           No
Extensions or Amendment. Neither Issuing Lender or Underlying Issuer shall be obligated to extend or amend any Letter of Credit issued
pursuant hereto unless the applicable conditions of Section 1.2 are met as though a new Letter of Credit were being requested
and issued.

 

3.1.5.               Method
of Making Requests. Unless a Default or an Event of Default has occurred and is continuing, (i) telephonic or electronic requests
for Revolving Credit Loans to Agent shall be permitted, (ii) Issuing Lender may, in its discretion, permit electronic transmittal
of requests for Letters of Credit to it, and (iii) Agent may, in Agent's discretion, permit electronic transmittal of instructions,
authorizations, agreements or reports to Agent. Unless Borrower Representative specifically directs Agent or Issuing Lender in writing
not to accept or act upon telephonic or electronic communications from any Borrower, neither Agent nor Issuing Lender shall have any
liability to Borrowers for any loss or damage suffered by any Borrower as a result of Agent's or Issuing Lender's honoring of any requests,
execution of any instructions, authorizations or agreements or reliance on any reports communicated to it telephonically or electronically
and purporting to have been sent to Agent or Issuing Lender by any Borrower, and, so long as Agent and Issuing Lender act in good faith,
neither Agent nor Issuing Lender shall have any duty to verify the origin of any such communication. Each telephonic request for a Revolving
Credit Loan or Letter of Credit accepted by Agent (or Issuing Lender, as applicable) hereunder shall be promptly followed by a written
or electronic confirmation of such request from Borrower Representative to Agent or Issuing Lender, as applicable.

 

    -19- 

     

    

 

3.1.6.               LIBORSOFR
Portions. Provided that as of both the date of the LIBORSOFR
Request and the first day of the Interest Period, no Default or Event of Default has occurred and is continuing, if Borrowers desire
to obtain a LIBORSOFR
Portion, Borrower Representative shall give Agent a LIBORSOFR
Request no later than 1:00 p.m. (New York City time) on the third Business Day (which
must also be a U.S. Government Securities Business Day) prior to the requested borrowing date. Each LIBORSOFR
Request shall be irrevocable and binding on Borrowers. In no event shall Borrowers be permitted to have outstanding at any one time LIBORSOFR
Portions with more than five (5) different
Interest Periods.

 

3.1.7.               Conversion of Base
Rate Portions. Provided that as of both the date of the LIBORSOFR
Request and the first day of the Interest Period, no Default or Event of Default exists, Borrowers may, on any U.S.
Government Securities Business Day, convert any Base Rate Portion into a LIBORSOFR
Portion. If Borrowers desire to convert a Base Rate Portion, Borrower Representative shall give Agent a LIBORSOFR
Request no later than 1:00 p.m. (New York City time) on the third U.S.
Government Securities Business Day prior to the requested conversion date. After giving effect to any conversion of Base Rate
Portions to LIBORSOFR
Portions, Borrowers shall not be permitted to have outstanding at any one time LIBORSOFR
Portions with more than five (5) different Interest Periods.

 

3.1.8.              Continuation of
LIBORSOFR
Portions. Provided that, as of both the date of the LIBORSOFR
Request and the first day of the Interest Period, no Default or Event of Default has occurred and is continuing, Borrowers may, on any
U.S. Government Securities Business Day, continue any LIBORSOFR
Portions into a subsequent Interest Period of the same or a different permitted duration. If Borrowers desire to continue a LIBORSOFR
Portion, Borrower Representative shall give Agent a LIBORSOFR
Request no later than 1:00 p.m. (New York City time) on the third U.S.
Government Securities Business Day prior to the requested continuation date. After giving effect to any continuation of LIBORSOFR
Portions, Borrowers shall not be permitted to have outstanding at any one time LIBORSOFR
Portions with more than five (5) different Interest Periods.
If Borrower Representative shall fail to give timely notice of its election to continue any LIBORSOFR
Portion or portion thereof as provided above, or if such continuation shall not be permitted, such LIBORSOFR
Portion or portion thereof, unless such LIBORSOFR
Portion shall be repaid, shall automatically be converted into a Base Rate Portion at the end of the Interest Period then in effect with
respect to such LIBORSOFR
Portion.

 

    -20- 

     

    

 

3.2.            Payments.

 

The Obligations shall be payable as follows:

 

3.2.1.               Principal.
Principal on account of Revolving Credit Loans shall be payable by Borrowers to Agent for the ratable benefit of Lenders immediately
upon the earliest of (i) the receipt by Agent or any Borrower of any proceeds of any of the Collateral that are required to be
paid to Agent for the ratable benefit of Lenders as a mandatory prepayment pursuant to subsection 3.3.2, subject to
Borrowers' rights to reborrow such amounts in accordance with subsection 1.1.1 hereof, (ii) the receipt by Agent or any
Borrower of any proceeds of any of the Collateral, to the extent of said proceeds, following the delivery by Agent of a Notice of
Exclusive Control in respect of a Dominion Account (for so long as Agent's right to exclusive control resulting from the delivery of
the Notice of Exclusive Control remains in effect and subject to Borrowers' rights to reborrow such amounts in accordance with subsection
1.1.1 hereof), (iii) the occurrence of an Event of Default in consequence of which Agent or Majority Lenders elect to
accelerate the maturity and payment of the Obligations in accordance with this Agreement (or in consequence of which the maturity
and payment of the Obligations is automatically accelerated), and (iv) termination of this Agreement pursuant to Section 4 hereof; provided, however,
that, if an Overadvance shall exist at any time, Borrowers shall repay the Overadvance on demand or as provided in subsection
3.3.1 hereof. Any proceeds required to be remitted to Agent pursuant to clauses (i) or (ii) of the previous sentence
shall, until received by Agent, be held as Agent's property, for its benefit and the benefit of Lenders, by each applicable Borrower
as trustee of an express trust for Agent's benefit. Notwithstanding clause (ii) above, during any period when (A) Agent is
exercising exclusive control of Borrowers' Dominion Account(s) pursuant to a Notice of Exclusive Control and (B) no
Default or Event of Default has occurred and is continuing and (C) the proceeds of Collateral theretofore received by Agent
have been applied to pay the Obligations set forth in items "first" through "fifth" of subsection
3.4.2 hereof (subject to Borrowers' rights to maintain cash in a Dominion Account to avoid prepayment of LIBORSOFR
Portions prior to the last day of an Interest Period pursuant to subsection 3.3.3 hereof), then Borrowers shall be
entitled to withdraw funds from the Dominion Account(s) to pay normal operating costs of the Borrowers.

 

3.2.2.               Interest.

 

(a)            Base
Rate Portion. Interest accrued on the Base Rate Portion shall be due and payable upon each of the following dates: (1) the first
day of each calendar quarter (for the previous calendar quarter); (2) the occurrence of an Event of Default in consequence of which
Agent or Majority Lenders elect to accelerate the maturity and payment of the Obligations in accordance with this Agreement (or in consequence
of which the maturity and payment of the Obligations is automatically accelerated); and (3) the date of termination of this Agreement
pursuant to Section 4 hereof.

 

(b)            LIBORSOFR
Portion. Interest accrued on each LIBORSOFR
Portion shall be due and payable upon each of the following dates: (1) each LIBORSOFR
Interest Payment Date; (2) the prepayment thereof (unless Borrowers shall have exercised their option under subsection 3.3.3
with respect to any applicable prepayment); (3) the occurrence of an Event of Default in consequence of which Agent or Majority Lenders
elect to accelerate the maturity and payment of the Obligations in accordance with this Agreement (or in consequence of which the maturity
and payment of the Obligations is automatically accelerated); and (4) the date of termination of this Agreement pursuant to Section 4
hereof.

 

3.2.3.               Costs, Fees and Charges.
Costs, fees and charges payable pursuant to this Agreement shall be payable by Borrowers to Agent, for distribution to Lenders, as appropriate,
or to any other Person designated by Agent in writing, as and when provided in this Agreement or any other Loan Document.

 

3.2.4.               Other Obligations.
The balance of the Obligations requiring the payment of money, if any, shall be payable by Borrowers to Agent for distribution to Lenders,
as appropriate, as and when provided in this Agreement or any other Loan Document or on demand, as applicable.

 

    -21- 

     

    

 

3.2.5.               Prepayment of/Failure
to Borrow LIBORSOFR
Portions. Borrowers may prepay a LIBORSOFR
Portion only upon three U.S. Government Securities Business Days'
prior written notice to Agent (which notice shall be irrevocable). In the event of (i) the payment of any principal of any LIBORSOFR
Portion other than on the last day of the Interest Period applicable thereto (including as a result of an Event of Default), (ii) the
conversion of any LIBORSOFR
Portion other than on the last day of the Interest Period applicable thereto, or (iii) the
failure, on the date specified in any notice delivered pursuant hereto, to borrow, convert, continue or prepay any LIBORSOFR
Portion, then, in any such event, Borrowers shall compensate Lenders for the documented cost and expense attributable to such event, as
determined by Agent in a manner consistent with its normal customs and practices.

 

3.2.6.             
No Requirement of Matched Funding. Anything to the contrary contained herein notwithstanding, neither Agent, nor any Lender, nor any of
their Participants, is required actually to match fund any Obligation as to which interest accrues at Adjusted Term SOFR or the Term SOFR
Reference Rate.

 

3.3.            Mandatory
and Optional Prepayments.

 

3.3.1.               Revolving Exposure
in Excess of Borrowing Base. Unless an Overadvance is requested and granted with respect thereto pursuant to subsection 1.1.2
and the repayment thereof is not demanded by Agent pursuant to subsection 1.1.2, if at any time the outstanding Revolving
Credit Loans plus the LC Exposure (other than the Cash Collateralized LC Exposure) plus Reserves exceeds the Borrowing
Base, Borrowers shall immediately repay the Revolving Credit Loans to the extent required to eliminate such excess; provided,
however, that, if any such excess results from a discretionary reduction in the Borrowing Base by Agent pursuant to this Agreement
after the Second Restatement Effective Date including the establishment of any reserve, then the applicable Borrowers shall not be required
to repay the excess before the end of the fifth Business Day after receipt of such notice.

 

3.3.2.               Proceeds of Sale,
Loss, Destruction or Condemnation of Collateral. If any Borrower sells, leases or otherwise disposes of or transfers any of the Collateral
(other than Inventory sold in the ordinary course of business) having a value in excess of $10,000,000 or if any of the Collateral having
a value in excess of $10,000,000 is lost or destroyed or taken by condemnation, Borrowers shall promptly either (a) deliver to Agent
a Borrowing Base Certificate showing that after giving effect to such disposition, loss, destruction, or condemnation, Availability is
greater than zero, or (b) pay to Agent for the ratable benefit of Lenders as and when received by any Borrower and as a mandatory
prepayment of the Loans, such amount as is needed to cause Availability to be greater than zero from the proceeds (including insurance
payments but net of costs and taxes incurred in connection with such sale or event) received by such Borrower from such disposition, loss,
destruction, or condemnation. Any such prepayment shall be applied to reduce the outstanding principal balance of the Revolving Credit
Loans, but shall not permanently reduce the Revolving Loan Commitments.

 

3.3.3.               LIBORSOFR Portions.
If the application of any payment made in accordance with the provisions of Sections 3.2, 3.3 and 3.4 at a time
when no Event of Default has occurred and is continuing would result in termination of a LIBORSOFR
Portion prior to the last day of the Interest Period for such LIBORSOFR
Portion, then, at Borrowers' option, the amount of such prepayment shall not be applied to reduce the outstanding principal balance
of the Revolving Credit Loans, but shall instead be deposited in a Dominion Account, and the LIBORSOFR
Portion and all of Borrowers' obligations in connection therewith, including with respect to payment of principal thereof and
interest thereon, shall continue as if no prepayment of such LIBORSOFR
Portion had been required or made.

 

    -22- 

     

    

 

3.3.4.               Optional Payments.
Borrowers may, at their option from time to time upon not less than three Business Days' prior written notice from Borrower Representative
to Agent in the case of LIBORSOFR
Portions and not later than 10:00 a.m., New York City time on the date of payment to Agent in the case of Base Rate Portions, repay Base
Rate Portions or repay/prepay LIBORSOFR
Portions; provided that the amount of any such payment in the case of LIBORSOFR
Portions is at least $500,000 (or such lesser amount as constitutes all outstanding LIBORSOFR
Portions at such time) and in integral multiples of $100,000 above $500,000. Except for charges under subsection 3.2.5 applicable
to payments of LIBORSOFR
Portions, all such payments shall be without premium or penalty.

 

3.3.5.               Optional Reductions
of Revolving Loan Commitments. Borrowers may, at their option from time to time upon not less than three Business Days' prior written
notice from Borrower Representative to Agent, terminate in whole or permanently reduce ratably in part, the unused portion of the Revolving
Loan Commitments; provided, however, that each such partial reduction shall be in an amount of $5,000,000 or integral multiples
of $1,000,000 in excess thereof.

 

3.4.           Application
of Payments and Collections; Business Day Convention.

 

3.4.1.               Collections. All
items of payment received by Agent by 2:00 p.m., New York City time, on any Business Day shall be deemed received on that Business Day.
All items of payment received after 2:00 p.m., New York City time, on any Business Day shall be deemed received on the following Business
Day. If as the result of collections of Accounts as authorized by subsection 6.2.4 hereof or otherwise, a credit balance exists
in the Loan Account, such credit balance shall not accrue interest in favor of Borrowers, but shall be disbursed to Borrowers or otherwise
at Borrower Representative's direction in the manner set forth in subsection 3.1.2, upon Borrower Representative's request at any
time, so long as no Default or Event of Default has occurred and is continuing. Agent may, at its option, offset such credit balance against
any of the Obligations upon and during the continuance of an Event of Default.

 

    -23- 

     

    

 

3.4.2.               Apportionment,
Application and Reversal of Payments. Principal and interest payments shall be apportioned ratably among Lenders (according to
the unpaid principal balance of the Loans to which such payments relate held by each Lender), and fees, except as otherwise provided
herein or in the Fee Letter, shall be apportioned ratably among Lenders. All payments shall be remitted to Agent and shall be
applied ratably among Lenders, in accordance with the provisions of this Agreement as follows: first, to pay any fees or
expense reimbursements (other than amounts related to Product Obligations) then due to Agent and Lenders from Borrowers; second,
to pay interest due from Borrowers in respect of all Loans, including Swingline Loans, Overadvances, and Agent Loans; third,
to pay or prepay principal of Swingline Loans and Agent Loans; fourth, ratably (i) to pay or prepay principal of Loans
(other than Swingline Loans and Agent Loans, but including Overadvances) and unpaid reimbursement obligations in respect of Letters
of Credit and to pay as cash collateral or a Supporting Letter of Credit in an amount equal to 105% of the outstanding LC Amount (to
the extent not supported by a Supporting Letter of Credit in such amount or the LC Exposure with respect thereto is not Cash
Collateralized LC Exposure) and (ii) up to the amount of the Aggregate Bank Product Reserve established prior to the occurrence
of, and not in contemplation of, such payment, ratably (based on the Bank Product Reserve established for each Bank Product of a
Bank Product Provider), to the Bank Product Providers for which a Bank Product Reserve has been established on account of all
amounts then due and payable in respect of Product Obligations of such Bank Product Provider applicable to such Bank Product, with
any balance to be paid to Agent, to be held by Agent, for the ratable benefit (based on the Bank Product Reserve established for
each Bank Product of a Bank Product Provider) of the Bank Product Providers for which a Bank Product Reserve has been established,
as cash collateral (which cash collateral shall be applied, ratably (based on the Bank Product Reserve established for each Bank
Product of a Bank Product Provider), to the payment or reimbursement of any amounts due and payable with respect to such Product
Obligations of such Bank Product Provider applicable to such Bank Product as and when such amounts first become due and payable and,
if any such Product Obligation is paid or otherwise satisfied in full, the cash collateral held by Agent in respect of such Product
Obligation shall be reapplied pursuant to this Section 3.4.2, beginning with the first clause hereof; and fifth,
to the payment of any other Obligation (including Product Obligations not covered under the fourth clause hereof) due to
Agent or any Lender by Borrowers. Any amount applied to the principal of the Loans shall be applied first, to pay or prepay
principal of Base Rate Portions, and second, to pay principal of LIBORSOFR Portions
in the chronological order of expiration of the Interest Periods thereof. After the occurrence and during the continuance of an
Event of Default, as between Agent and Borrowers, Agent shall have the continuing exclusive right to apply and reapply any and all
such payments and collections received at any time or times hereafter by Agent against the Obligations, in such manner as Agent may
deem advisable to comply with this subsection 3.4.2, notwithstanding any entry by Agent or any Lender upon any of its books
and records. Nothing contained herein shall affect Agent's right to apply cash collateral to LC Obligations as provided in subsection
1.2.11.

 

3.4.3.               Business Day Convention.
Whenever any payment, report, document, or notice hereunder shall be stated to be due on a day other than a Business Day, the due date
therefor shall be extended to the next Business Day, and in the case of a payment which accrues interest, interest thereon will be payable
for the period of such extension; provided, however, that if such extension would cause payment of interest on or principal
of any LIBORSOFR
Portion to be made in the next calendar month, such payment shall be made on the immediately preceding U.S.
Government Securities Business Day.

 

3.5.           All
Loans to Constitute One Obligation.

 

The Loans and LC Obligations
shall constitute one general Obligation of Borrowers, and shall be secured by Agent's Lien upon all of the Collateral.

 

3.6.          Loan
Account.

 

Agent shall enter all Loans
as debits to a loan account (the "Loan Account") and shall also record in the Loan Account all payments made by Borrowers
on any Obligations and all other amounts credited to the Loan Account as provided herein, and may record therein, in accordance with customary
accounting practice, other debits and credits, including interest and all other charges and expenses properly chargeable to Borrowers
under the Loan Documents if Borrowers have not paid the same when due.

 

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3.7.            Statements
of Account.

 

Agent will account to Borrowers
monthly with a statement of Loans, charges and payments made pursuant to this Agreement during the immediately preceding month, and such
accounts rendered by Agent shall be prima facie evidence of the existence and amounts of the obligations recorded therein; provided
that any failure by Agent to maintain and deliver such accounts or any error therein shall not affect Borrowers' obligation to repay the
Obligations in accordance with the terms of this Agreement.

 

3.8.            Increased
Costs.

 

If any law or any governmental
or quasi-governmental rule, regulation, policy, guideline or directive (whether or not having the force of law) adopted or implemented
after the date of this Agreement and having general applicability to all banks or finance companies within the jurisdiction in which any
Lender operates (excluding, for the avoidance of doubt, the effect of and phasing in of capital requirements or other regulations or guidelines
passed prior to the date of this Agreement), or any change, interpretation or application after the date hereof of any law, rule, regulation,
policy, guidance or direction by any governmental authority charged with the interpretation or application thereof, or the compliance
of such Lender therewith (including, without limitation, in respect of any capital, liquidity or reserve requirements for banks or bank
holding companies imposed by such banks or holding companies on similarly situated borrowers), shall after the date of this Agreement:

 

(a)            (1) subject
such Lender to any tax or increase in tax rate with respect to this Agreement (other than (a) any Excluded Tax, and (b) any
tax covered by subsection 2.9(a)) or (2) change the basis of taxation of payments to such Lender of principal, fees, interest
or any other amount payable hereunder or under any Loan Documents (other than in respect of (a) any tax based on or measured by net
income or otherwise in the nature of a net income tax, including any franchise tax or any similar tax based on net income, and (b) any
tax covered by subsection 2.9(a));

 

(b)            impose,
modify or hold applicable any reserve (except any reserve taken into account in the determination of the applicable LIBOR
RateSOFR),
special deposit, assessment or similar requirement against assets held by, or deposits in or for the account of, or advances or
loans by, or other credit extended by, any office of such Lender which is not otherwise included in the determination of LIBOR
RateSOFR,
Adjusted Term SOFR or Term SOFR hereunder, including pursuant to Regulation D of the Board of Governors of the Federal
Reserve System; or

 

    -25- 

     

    

 

(c)
            impose on such Lender any other condition affecting any Loan
Document;

 

and the result of any of the foregoing is to increase the cost to such Lender of making, renewing or maintaining Loans
hereunder or the result of any of the foregoing is to reduce the rate of return on such Lender's capital as a consequence of its
obligations hereunder, or the result of any of the foregoing is to reduce the amount of any payment (whether of principal, interest
or otherwise) in respect of any of the Loans, then, in any such case, Borrowers shall pay such Lender, upon demand and certification
not later than 60 days following receipt of notice by Borrower Representative of the imposition of such increased costs and taxes,
such additional amount as will compensate such Lender for such additional cost and taxes or such reduction, as the case may be, to
the extent such Lender has not otherwise been compensated, with respect to a particular Loan, for such increased cost as a result of
an increase in the Base Rate or the LIBORAdjusted
Term SOFR Rate; provided, that notwithstanding anything in this Agreement to the contrary, (i) the Dodd-Frank
Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines or directives thereunder or issued in connection
therewith, and (ii) all requests, rules, guidelines or directives concerning capital adequacy promulgated by the Bank for
International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or the United States
or foreign regulatory authorities shall, in each case, be deemed to be a "change in "law" for purposes of this
Agreement regardless of the date enacted, adopted or issued. An officer of the applicable Lender shall determine the amount of such
additional cost and taxes or reduced amount using reasonable averaging and attribution methods and shall certify the amount of such
additional cost or reduced amount to Borrowers, which certification shall include a written explanation and details of such
additional cost and taxes or reduction to Borrowers and shall contain a representation and warranty on the part of the Lender to the
effect that the Lender has complied with its obligations set forth in subsection 3.13.1 to eliminate or reduce such amount.
Such certification shall be conclusive absent demonstrable error.

 

3.9.           Suspension
of LIBORSOFR
Portions.

 

If Agent or the Majority Lenders shall have determined that:

 

(i)            reasonable
means do not exist for ascertaining the LIBORSOFR
Rate for any Interest Period; or

 

(ii) Dollar
deposits in the relevant amount and for the relevant maturity are not available in the London interbank market with respect to a proposed
LIBOR Portion, or a proposed conversion of a Base Rate Portion into a LIBOR Portion; or

 

(ii)           (iii) any
applicable law, treaty, regulation or directive adopted or implemented after the date of this Agreement, or any change, interpretation
or application after the date hereof in any applicable law, treaty, regulation or direction, shall make it unlawful for any Lender (for
purposes of this clause (iii), the term "Lender" shall include the office or branch where such Lender or any corporation
or bank then controlling such Lender makes or maintains any LIBORSOFR
Portions) to make or maintain its LIBORSOFR
Portions, or adverse or unusual conditions in, or changes in applicable law relating to, the London interbank market make it, in the reasonable
judgment of Agent, impracticable to fund therein any of the LIBORSOFR
Portions, or make the projected LIBORSOFR
Rate unreflective of the actual costs of funds therefor to any Lender;

 

then (a) Agent or such Lender shall give
Borrower Representative prompt written or electronic notice of the determination of such effect, and thereupon the obligation of Agent
and Lenders to make or continue affected types of LIBORSOFR Portions or convert Base Rate Portions to affected types of LIBORSOFR Portions hereunder shall be suspended during the pendency of such circumstances, (b) any request for an affected type
of LIBORSOFR Portion shall be made as a Base Rate Portion unless Borrower Representative shall notify Agent, no later than 1:00 p.m. (New
York City time) three U.S.
Government Securities Business Days prior to the date of such proposed borrowing, that the request for such borrowing shall
be canceled or made as an unaffected type of LIBORSOFR Portion, (c) any Base Rate Portion or existing LIBORSOFR Portion which was to have been converted to an affected type of LIBORSOFR Portion
shall be continued as a Base Rate Portion unless Borrower Representative shall notify Agent, no later than 1:00 p.m. (New York City
time) three U.S.
Government Securities Business Days prior to the proposed conversion, that the request for such conversion shall be made as
an unaffected type of LIBORSOFR Portion, and (d) Borrowers shall, promptly upon reasonable request by Agent, convert any existing affected LIBORSOFR Portions into Base Rate Portions or unaffected types of LIBORSOFR Portions; provided, however, that before delivering any such notice, the affected Lender agrees to use all reasonable
efforts to designate a different lending office if the making of such a designation would allow such lender to continue to perform its
obligations to fund, continue or maintain LIBORSOFR Portions and would not, in the reasonable judgment of such Lender, be significantly disadvantageous to such Lender.

 

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3.10.         Sharing of Payments, Etc.

 

If any Lender shall obtain
any payment (whether voluntary, involuntary, through the exercise of any right of setoff, or otherwise) on account of any Loan made by
it in excess of its ratable share of payments on account of Loans made by all Lenders, such Lender shall forthwith purchase from each
other Lender such participation in such Loan as shall be necessary to cause such purchasing Lender to share the excess payment ratably
with each other Lender; provided, that, if all or any portion of such excess payment is thereafter recovered from such purchasing
Lender, such purchase from each Lender shall be rescinded and such Lender shall repay to the purchasing Lenders the purchase price to
the extent of such recovery, together with an amount equal to such Lender's ratable share (according to the proportion of (i) the
amount of such Lender's required repayment to (ii) the total amount so recovered from the purchasing Lender) of any interest or other
amount paid or payable by the purchasing Lender in respect of the total amount so recovered. Borrowers agree that any Lender so purchasing
a participation from another Lender pursuant to this Section 3.10 may, to the fullest extent permitted by law, exercise all
its rights of payment (including the right of setoff) with respect to such participation as fully as if such Lender were the direct creditor
of Borrowers in the amount of such participation. Notwithstanding anything to the contrary contained herein, all purchases and repayments
to be made under this Section 3.10 shall be made through Agent. For the avoidance of doubt, this Section 3.10 shall
not apply to payments received by a Lender from an assignee in connection with the assignment of its Loans or from a participant in connection
with the sale or settlement of such participation.

 

3.11.         Indemnity for Returned Payments.

 

If after receipt of any
payment which is applied to the payment of all or any part of the Obligations, Agent, any Lender, WFCF or any Affiliate of WFCF is
for any reason compelled to surrender such payment or proceeds to any Person because such payment or application of proceeds is
invalidated, declared fraudulent, set aside, determined to be void or voidable as a preference, impermissible setoff, or a diversion
of trust funds, or for any other reason, then the Obligations or part thereof intended to be satisfied shall be revived and
continued and this Agreement shall continue in full force as if such payment or proceeds had not been received by Agent or such
Lender and Borrowers shall be liable to pay to Agent and Lenders, and each Borrower hereby does indemnify Agent and Lenders and hold
Agent and Lenders harmless for, the amount of such payment or proceeds surrendered. The provisions of this Section 3.11
shall be and remain effective notwithstanding any contrary action which may have been taken by Agent or any Lender in reliance upon
such payment or application of proceeds, and any such contrary action so taken shall be without prejudice to Agent's and Lenders'
rights under this Agreement and shall be deemed to have been conditioned upon such payment or application of proceeds having become
final and irrevocable. The provisions of this Section 3.11 shall survive the termination of this Agreement.

 

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3.12.        Nature and Extent of Each Borrower's Liability.

 

3.12.1.     Joint and Several
Liability. Each Borrower shall be liable for, on a joint and several basis, all of the Loans and other Obligations, regardless of
which Borrower actually may have received the proceeds of any Loans or other extensions of credit hereunder or the amount of such Loans
received or the manner in which Agent or any Lender accounts for such Loans or other extensions of credit on its books and records, it
being acknowledged and agreed that Loans to any Borrower inure to the mutual benefit of all Borrowers and that Agent and Lenders are relying
on the joint and several liability of Borrowers in extending the Loans and other financial accommodations hereunder. Each Borrower hereby
unconditionally and irrevocably agrees that upon default in the payment when due (whether at stated maturity, by acceleration or otherwise)
of any principal of, or interest owed on, any of the Loans or other Obligations, such Borrower shall forthwith pay the same.

 

3.12.2.     Unconditional
Nature of Liability. Each Borrower's joint and several liability hereunder with respect to the Loans and other Obligations
shall, to the fullest extent permitted by applicable law, be the unconditional liability of such Borrower irrespective of
(i) the validity, enforceability, avoidance or subordination of any of the Obligations or of any other document evidencing all
or any part of the Obligations, (ii) the absence of any attempt to collect any of the Obligations from any other Borrower or
any Collateral or other security therefor, or the absence of any other action to enforce the same, (iii) the waiver, consent,
extension, forbearance or granting of any indulgence by Agent or any Lender with respect to any provision of any instrument executed
by any other Borrower evidencing or securing the payment of any of the Obligations, or any other agreement now or hereafter executed
by any other Borrower and delivered to Agent or any Lender, (iv) the failure by Agent to take any steps to perfect or maintain
the perfected status of its security interest in or Lien upon, or to preserve its rights to, any of the Collateral or other security
for the payment or performance of any of the Obligations or Agent's release of any Collateral or of its Liens upon any Collateral,
(v) Agent's or Lenders' election, in any proceeding instituted under the Bankruptcy Code, for the application of
Section 1111(b)(2) of the Bankruptcy Code, (vi) any borrowing or grant of a security interest by any other Borrower,
as debtor-in-possession under Section 364 of the Bankruptcy Code, (vii) the release or compromise, in whole or in part, of
the liability of any other Borrower for the payment of any of the Obligations, (viii) any increase in the amount of the
Obligations beyond any limits imposed herein or in the amount of any interest, fees or other charges payable in connection
therewith, in each case, if consented to by Borrower Representative, or any decrease in the same, (ix) the disallowance of all
or any portion of Agent's or any Lender's claims against any other Borrower for the repayment of any of the Obligations under
Section 502 of the Bankruptcy Code, or (x) any other circumstance that might constitute a legal or equitable discharge or
defense of any other Borrower. After the occurrence and during the continuance of any Event of Default, Agent may proceed directly
and at once, without notice to any Borrower (except as provided herein), against any or all of Borrowers to collect and recover all
or any part of the Obligations, without first proceeding against any other Borrower or against any Collateral or other security for
the payment or performance of any of the Obligations, and each Borrower waives any provision that might otherwise require Agent
under applicable law to pursue or exhaust its remedies against any Collateral or other Borrower before pursuing another Borrower.
Each Borrower consents and agrees that Agent shall be under no obligation to marshal any assets in favor of any Borrower or against
or in payment of any or all of the Obligations.

 

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3.13.        Lender's Obligation
to Mitigate; Replacement of Lenders; Benchmark Replacement Setting.

 

3.13.1.     Lender's
Obligation to Mitigate. If any Lender requests compensation under Section 3.8, or if Borrowers are required to pay
any additional amount to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 2.9,
then such Lender shall use all commercially reasonable efforts (subject to applicable legal and regulatory restrictions) to mitigate
or eliminate the amount of such compensation or additional amount, including by designating a different lending office for funding
or booking its Loans hereunder or by assigning its rights and obligations hereunder to another of its offices, branches or
Affiliates; provided that no Lender shall be required to take any action pursuant to this Section 3.13 unless, in
the reasonable judgment of such Lender, such designation or assignment or other action (i) would eliminate or reduce amounts
payable pursuant to Section 3.8 or 2.9, as the case may be, in the future, (ii) would not subject such
Lender to any material unreimbursed cost or expense and (iii) would not otherwise be materially disadvantageous to such Lender.
Borrowers shall pay all reasonable and documented costs and expenses incurred by a Lender in connection with any such designation or
assignment.

 

3.13.2.     Replacement
of Lenders. If (a) any Lender requests compensation under Section 3.8, or if Borrowers are required to pay any
additional amount to an Lender or any Governmental Authority for the account of any Lender pursuant to Section 2.9, or
(b) any Lender defaults in its obligation to fund Loans hereunder, then Borrowers may, at their sole expense and effort, upon
notice to such Lender and Agent, require such Lender to assign, without recourse (in accordance with and subject to the restrictions
contained in Section 12), all its interests, rights and obligations under this Agreement to an assignee that shall
accept such assignment and assume such obligations (which assignee may be another Lender, if such assignee Lender accepts such
assignment); provided, that: (i) the replacement Lender shall be (a) an existing Lender or (b) another
financial institution reasonably acceptable to Agent; (ii) the assigning Lender shall have received payment of an amount equal
to the outstanding principal of its Loans and participations in unreimbursed Letter of Credit disbursements, accrued interest
thereon, accrued fees and all other amounts payable to it hereunder, from the assignee (to the extent of such outstanding principal
and accrued interest and fees) or Borrowers (in the case of all other amounts); (iii) the assignee shall execute an Assignment
and Acceptance Agreement pursuant to which it shall become a party hereto as provided in subsection 12.1.1; and (iv) in
the case of any such assignments resulting from a claim for compensation under Section 3.8 or payments required to be
made pursuant to Section 2.9, such assignment will result in a reduction in such compensation or payments. Upon
compliance with the provisions for assignment provided in subsection 12.1.1 and this subsection 3.13.2, such assignee
shall constitute a "Lender" hereunder and the Lender being so replaced shall no longer constitute a "Lender"
hereunder. A Lender shall not be required to make any such assignment if, prior thereto, as a result of a waiver by such Lender or
otherwise, the circumstances entitling Borrowers to require such assignment cease to apply.

 

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3.13.3.     Effect
of Benchmark Transition EventReplacement
Setting.

 

(i) (A) Benchmark
Replacement. Notwithstanding anything to the contrary herein or in any other Loan Document (and any Hedge Agreement
shall be deemed not to be a “Loan Document” for purposes of this Section 3.13.3)
if a Benchmark Transition Event or an Early Opt-in Election, as applicable, and its related Benchmark Replacement Date have occurred prior
to the Reference Time in respect of any setting of the then-current Benchmark, then (x) if a Benchmark Replacement is determined
in accordance with clause (a)(1) or (a)(2) of the definition of “Benchmark Replacement” for such Benchmark Replacement
Date, such Benchmark Replacement will replace such Benchmark for all purposes hereunder and under any Loan Document in respect of such
Benchmark setting and subsequent Benchmark settings without any amendment to, or further action or consent of any other party to, this
Agreement or any other Loan Document and (y) if a Benchmark Replacement is determined in accordance with clause (a)(3) of the
definition of “Benchmark Replacement” for such Benchmark Replacement Date, such Benchmark Replacement will replace such Benchmark
for all purposes hereunder and under any Loan Document in respect of any Benchmark setting at or after 5:00 p.m. (New York City time)
on the fifth (5th) Business Day after the date notice of such Benchmark Replacement is
provided to the Lenders without any amendment to, or further action or consent of any other party to, this Agreement or any other Loan
Document so long as the Agent has not received, by such time, written notice of objection to such Benchmark Replacement from Lenders comprising
the Majority Lenders.

 

(i)          (B) Benchmark
Replacement. Notwithstanding anything to the contrary herein or in any other Loan Document, if
a Term SOFRupon
the occurrence of a Benchmark Transition Event and its related Benchmark Replacement Date
have occurred prior to the Reference Time in respect of any setting of the then-current Benchmark, then the applicable Benchmark Replacement
will,
Agent and Administrative Borrower may amend this Agreement to replace the then-current Benchmark for
all purposes hereunder or under any Loan Document in respect of such Benchmark setting and subsequent Benchmark settings, without any
amendment to, or further action or consent of any other party to, this Agreement or any other Loan Document; provided
that this clause (B) shall not be effective unless the Agent has delivered to the Lenders and the Borrowers
a Term SOFR Notice. For the avoidance of doubt, the Agent shall not be required to deliver a Term SOFR Notice after a Term SOFR Transition
Event and may elect or not elect to do so in its sole discretion.with
a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the
fifth (5th) Business Day after Agent has posted such proposed amendment to all affected
Lenders and Administrative Borrower so long as Agent has not received, by such time, written notice of objection to such amendment from
Lenders comprising the Majority Lenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section 3.13.3
will occur prior to the applicable Benchmark Transition Start Date.

 

(ii)           Benchmark
Replacement Conforming Changes. In connection with the use,
administration, adoption or implementation of a Benchmark Replacement, the Agent
will have the right to make Benchmark Replacement Conforming Changes from time to
time and, notwithstanding anything to the contrary herein or in any other Loan Document, any amendments implementing such Benchmark
Replacement Conforming Changes will become effective without any further action or consent of any other party to
this Agreement or any other Loan Document.

 

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(iii)          Notices; Standards
for Decisions and Determinations. The Agent will promptly notify the
BorrowersAdministrative Borrower and the Lenders
of (A) any occurrence of a Benchmark Transition Event, a Term SOFR Transition Event or an Early
Opt-in Election, as applicable, and its related Benchmark Replacement Date, (B1)
the implementation of any Benchmark Replacement, and
(C2) the effectiveness
of any Benchmark Replacement Conforming Changes, (D) in
connection with the use, administration, adoption or implementation of a Benchmark Replacement. Agent will promptly notify Administrative
Borrower of the removal or reinstatement of any tenor of a Benchmark pursuant to Section 3.13.3(iv) below
and (E) the commencement or conclusion of any Benchmark Unavailability Period. Any determination, decision or election
that may be made by the Agent or, if applicable, any Lender (or group of Lenders) pursuant
to this Section 3.13.3, including any determination with respect to a tenor, rate or adjustment or of the occurrence or non-occurrence
of an event, circumstance or date and any decision to take or refrain from taking any action or any selection, will be conclusive and
binding absent manifest error and may be made in its or their sole discretion and without consent from any other party to this Agreement
or any other Loan Document, except, in each case, as expressly required pursuant to this Section 3.13.3.

 

(iv)          Unavailability
of Tenor of Benchmark. Notwithstanding anything to the contrary herein or in any other Loan Document, at any time (including in connection
with the implementation of a Benchmark Replacement), (A1)
if the then-current Benchmark is a term rate (including the Term
SOFR or the LIBORReference
Rate) and either (1I)
any tenor for such Benchmark is not displayed on a screen or other information service that publishes such rate from time to time as selected
by the Agent in its reasonable discretion or (2II)
the administrator of such Benchmark or the regulatory supervisor
for the administrator of such Benchmark has provided a public statement or publication of information announcing that any tenor for such
Benchmark is not or will be no
longernot be representative or
in compliance with or aligned with the International Organization of Securities Commissions (IOSCO) Principles for Financial Benchmarks,
then the Agent may modify the definition of “"Interest
Period”" (or any
similar or analogous definition) for any Benchmark settings at or after such time to remove such unavailable or,
non-representative, non-compliant or non-aligned tenor and (B2)
if a tenor that was removed pursuant to clause (A1)
above either (1I)
is subsequently displayed on a screen or information service for a Benchmark (including a Benchmark Replacement) or (2II)
is not, or is no longer, subject to an announcement that it is not
or will no longernot
be representative or in compliance with or aligned with the International Organization
of Securities Commissions (IOSCO) Principles for Financial Benchmarks for a Benchmark (including a Benchmark Replacement),
then the Agent may modify the definition of “"Interest
Period”" (or any
similar or analogous definition) for all Benchmark settings at or after such time to reinstate such previously removed tenor.

 

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(v)           Benchmark
Unavailability Period. Upon the Borrowers'Borrower's
receipt of notice of the commencement of a Benchmark Unavailability Period, the Borrowers(1) Borrower
Representative may revoke any pending request for a borrowing of, conversion to or continuation of LIBOR RateSOFR Loans to be made, converted or continued during any Benchmark Unavailability Period and, failing that, the
BorrowersBorrower
Representative will be deemed to have converted any such request into a request for a borrowing of or conversion to Base Rate
Loans and
(2) any outstanding affected SOFR Loans will be deemed to have been converted to Base Rate Loans at the end of the applicable Interest
Period. During any Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark is not an Available
Tenor, the component of the Base Rate based upon the then-current Benchmark or such tenor for such Benchmark, as applicable, will not
be used in any determination of the Base Rate.

 

(vi)          London
Interbank Offered Rate Benchmark Transition Event. On March 5, 2021, the IBA, the administrator of the London interbank offered
rate, and the FCA, the regulatory supervisor of the IBA, made the Announcements that the final publication or representativeness date
for (I) 1-week and 2-month London interbank offered rate tenor settings will be December 31, 2021 and (II) overnight,
1-month, 3-month, 6-month and 12-month London interbank offered rate tenor settings will be June 30, 2023. No successor administrator
for the IBA was identified in such Announcements. The parties hereto agree and acknowledge that the Announcements resulted in the occurrence
of a Benchmark Transition Event with respect to the London interbank offered rate pursuant to the terms of this Agreement and that any
obligation of the Agent to notify any parties of such Benchmark Transition Event pursuant to clause (iii) of this Section 3.13.3
shall be deemed satisfied.

 

SECTION 4. TERM AND TERMINATION

 

4.1.          Term
of Agreement.

 

This Agreement shall be in
effect from and including the Second Restatement Effective Date, through and including the Stated Termination Date (the "Term"),
unless earlier terminated as provided in Section 4.2 hereof.

 

4.2.          Termination.

 

4.2.1.       Termination by Agent
or Lenders. Agent may, and at the direction of Majority Lenders shall, terminate this Agreement immediately without notice (other
than any notice required by Section 10) upon the occurrence and during the continuance of an Event of Default.

 

4.2.2.       Termination
by Borrowers. Upon at least five days' prior written notice to Agent and Lenders, Borrower Representative may, at its option,
terminate this Agreement; provided, however, that no such termination shall be effective until Borrowers have paid (or
collateralized to Agent's reasonable satisfaction) all of the Obligations in immediately available funds, all Letters of Credit have
expired, terminated or have been collateralized in accordance with subsection 1.2.10 and Borrowers have complied with subsection
3.2.5. Any notice of termination given by Borrower Representative shall be irrevocable unless all Lenders otherwise agree in
writing and no Lender shall have any obligation to make any Loans or issue or procure any Letters of Credit on or after the
termination date stated in such notice; provided, however, that any such notice of termination may state that it is
conditioned upon the availability of an alternate or replacement credit facility, and that if an alternate or replacement credit
facility is not obtained, such notice of termination may be revoked by Borrower Representative. Borrower Representative may elect to
terminate this Agreement in its entirety only. No section of this Agreement or type of Loan available hereunder may be terminated
singly.

 

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4.2.3.       Effect of Termination.
All of the Obligations shall be immediately due and payable upon the termination date stated in any notice of termination of this Agreement.
All undertakings, agreements, covenants, warranties and representations of Borrowers contained in the Loan Documents shall survive any
such termination and Agent shall retain its Liens in the Collateral and Agent and each Lender shall retain all of its rights and remedies
under the Loan Documents notwithstanding such termination until all Obligations have been discharged or paid, in full, in immediately
available funds, including all Obligations under subsection 3.2.5 resulting from such termination.

 

SECTION 5. SECURITY INTERESTS

 

5.1.           Security
Interest in Collateral.

 

To secure the prompt payment
and performance to the Secured Parties of the Obligations, each Borrower hereby grants to Agent, for the benefit of the Secured Parties,
a continuing lien upon and security interest in all of the following assets of such Borrower, whether now owned or existing or hereafter
created, acquired or arising and wheresoever located:

 

 (i)           Accounts;

 

(ii)           the Dominion Accounts (including any Deposit
Account set forth on Schedule 5.1) and any other Controlled Investment Accounts; and

 

(iii)           Inventory;

 

together with all books, records, writings, data
bases, information, Documents, and Supporting Obligations directly relating to or evidencing, embodying, or incorporating any of the foregoing,
and all Proceeds of and from any of the foregoing.

 

5.2.           Excluded
Collateral.

 

Collateral shall not include
real property, Fixtures, Equipment, Securities of Subsidiaries, the Proceeds and products of any of the foregoing Property or any other
Property not specifically designated as Collateral hereby.

 

5.3.           Lien
Perfection; Further Assurances.

 

Subject to the
provisions of Section 6 hereof, Borrowers shall promptly execute such instruments, assignments or documents and take
such other actions as are necessary or are reasonably requested by Agent to perfect or to continue the perfection of Agent's
security interest in the Collateral and to ensure priority of such security interest (subject to Permitted Liens). Each Borrower
hereby authorizes Agent to file financing statements that indicate the Collateral as being of an equal or lesser scope, or with
greater or lesser detail, than as set forth in Section 5.1. Each Borrower also hereby ratifies its authorization for
Agent to have filed in any jurisdiction any such financing statements or amendments thereto if filed prior to the date hereof. At
Agent's reasonable request, each Borrower shall also promptly execute or cause to be executed and shall deliver to Agent any and all
documents, instruments and agreements to give effect to or carry out the terms or intent of the Loan Documents.

 

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SECTION 6. COLLATERAL ADMINISTRATION

 

6.1.           General.

 

6.1.1.       Location of Collateral.
Except as otherwise permitted below in this subsection 6.1.1, all Collateral will at all times be kept by Borrowers at one or
more of the business locations set forth in Schedule 6.1.1 hereto, as updated by Borrowers by providing prompt written notice
to Agent of any new location. With respect to any Inventory of Borrowers located in the United States but stored or consigned on real
property not owned or leased by a Borrower, the applicable Borrower shall use commercially reasonable efforts to obtain a Bailee Certificate
from the owner of such real property. Borrowers shall not be required to comply with the provisions of this subsection 6.1.1 (a) in
respect of any location at which no Collateral other than Inventory having a value of less than $250,000 is kept, and (b) in respect
of Inventory which is in transit.

 

6.1.2.       Insurance of Collateral.
Borrowers shall maintain insurance (subject to customary deductibles) with financially sound and reputable insurance carriers upon their
properties and assets and with respect to the business of Borrowers against such risks and in such amounts as is customary for similar
businesses (it being understood that Borrowers' insurance complies with the foregoing requirements as of the Second Restatement Effective
Date). Each policy of property insurance covering the Borrowers' inventory shall name Agent as loss payee as its interest may appear
and shall contain a clause requiring the insurer to give not less than 10 days' prior written notice to Agent in the event of cancellation
of the policy for nonpayment of premium and not less than 30 days' prior written notice to Agent in the event of cancellation of the
policy for any other reason and a clause reasonably satisfactory to Agent to the effect that the interest of Agent shall not be impaired
or invalidated by any act or neglect of any Borrower or any of its Subsidiaries. On the Second Restatement Effective Date and within
30 days after each renewal or replacement of the policies required to be carried hereby, Borrowers shall deliver to Agent an insurance
certificate in form and substance reasonably satisfactory to Agent. Unless Borrowers provide Agent with the insurance certificate required
by this subsection 6.1.2, in addition to the other rights and remedies Agent or Lenders may have, Agent may purchase insurance
(subject to customary deductibles) at Borrowers' expense to protect Agent's interests in the Collateral for the benefit of the Secured
Parties. Agent shall cancel such insurance promptly following receipt of satisfactory evidence that Borrowers have obtained insurance
as required by this Agreement.

 

6.1.3.       Protection of Collateral.
Neither Agent nor any Lender shall be liable or responsible in any way for the safekeeping of any of the Collateral or for any loss or
damage thereto (except for reasonable care in the custody thereof while any Collateral is in Agent's or any Lender's actual possession)
or for any diminution in the value thereof, or for any act or default of any warehouseman, carrier, forwarding agency or other person
whomsoever, but, as among Borrowers, Agent and Lenders, the same shall be at Borrowers' sole risk.

 

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6.2.          Administration
of Accounts.

 

6.2.1.       Records, Schedules
and Assignments of Accounts. Borrowers shall keep accurate and complete records of their Accounts and all payments and collections
thereon.

 

6.2.2.       Account Verification.
Any of Agent's officers, employees or agents shall have the right, at any time or times hereafter, in the name of Agent, any designee
of Agent or any Borrower, to verify the validity, amount or any other matter relating to any Accounts by mail, telephone, electronic communication
or otherwise; provided, that so long as no Default or Event of Default exists, any verification of Accounts by Agent shall be telephonically
in the presence of a representative of a Borrower. Borrowers shall cooperate fully with Agent in an effort to facilitate and promptly
conclude any such verification process.

 

6.2.3.       Maintenance of Dominion
Account. Borrowers shall establish Deposit Accounts with Wells Fargo, subject to Blocked Account Agreements (each such Deposit Account
subject to a Blocked Account Agreement, a "Dominion Account"). Each Blocked Account Agreement shall provide that Wells
Fargo shall comply with instructions originated by Agent directing disposition of the funds in the applicable Dominion Account or Accounts
without further consent by the applicable Borrower, and that, following receipt by it of a notice of exclusive control (a "Notice
of Exclusive Control") from Agent, (a) such bank shall not permit any funds or other assets to be transferred or withdrawn
by any Borrower from such Dominion Account or Accounts, (b) such bank shall only comply with the instructions of Agent and no longer
comply with instructions of any Borrower in respect of such Dominion Account or Accounts, and (c) such bank shall transfer all payments
or other remittances received in the Dominion Account or Accounts to Agent's account for application on account of the Obligations as
provided in subsection 3.2.1 and Section 3.4. Agent agrees that (x) it shall not deliver a Notice of Exclusive
Control unless a Default or Event of Default has occurred and is continuing at the time or Availability is less than the Covenant Trigger
Amount at any time, and (y) it shall provide Borrower Representative with prompt notice of its delivery of a Notice of Exclusive
Control, which notice shall include a statement specifying with particularity that a Default or Event of Default has occurred and is continuing
and the nature of the Default or Event of Default or that Availability has been less than the Covenant Trigger Amount; provided
that the failure of Agent to deliver such notice to Borrowers shall not in any manner affect the validity and enforceability of any Notice
of Exclusive Control; and provided, further that Agent's exclusive control shall be rescinded at such time no Default or
Event of Default shall have occurred and be continuing and Availability equals or exceeds the Covenant Trigger Amount for 60 consecutive
days. Agent shall have no obligation to deliver a Notice of Exclusive Control. Agent assumes no responsibility for such blocked account
arrangements, including any claim of accord and satisfaction or release with respect to deposits accepted by any bank thereunder.

 

6.2.4.       Collection
of Accounts, Proceeds of Collateral. Each Borrower agrees that all invoices and other requests made by any Borrower for payment
in respect of Accounts shall contain a written statement directing payment in respect of such Accounts to be paid to a lockbox or
Dominion Account established pursuant to subsection 6.2.3. If at any time a Borrower receives remittances on account of
Accounts or any Proceeds of Collateral (including, without limitation, insurance proceeds) other than by direct payment to a
Dominion Account, such Borrower shall cause such remittances or Proceeds to be deposited in a Dominion Account as soon as
practicable. If an Event of Default exists, any direct payments to an Existing Account shall be transferred to a Dominion Account
within one Business Day of receipt thereof. Agent retains the right at all times after the occurrence and during the continuance of
an Event of Default to notify Account Debtors that Borrowers' Accounts have been assigned to Agent and to collect Borrowers'
Accounts directly in its own name, or in the name of Agent's agent, and to charge the collection costs and expenses, including
attorneys' fees, to Borrowers.

 

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6.2.5.       Taxes. If an Account
includes a charge for any tax payable to any Governmental Authority, Agent is authorized, in its sole discretion, after the occurrence
and during the continuance of an Event of Default, to pay the amount thereof to the proper Governmental Authority for the account of the
applicable Borrower and to charge Borrowers therefor, except for taxes that (i) are being actively contested in good faith and by
appropriate proceedings and with respect to which Borrowers maintain reserves on its books therefor in accordance with GAAP and (ii) would
not reasonably be expected to result in any Lien other than a Permitted Lien. In no event shall Agent or any Lender be liable for any
taxes to any Governmental Authority that may be due by any Borrower.

 

6.2.6.       Controlled Investment
Accounts. Agent agrees that it shall not exercise control over any Controlled Investment Account or give any entitlement orders or
other instructions or directions to any securities intermediary or any bank with respect to securities or funds in any Controlled Investment
Account unless a Default or Event of Default has occurred and is continuing; provided, that Agent's exercise of control shall be
rescinded at such time no Default or Event of Default shall have occurred and be continuing for a period of 30 consecutive days.

 

6.3.          Administration
of Inventory.

 

Borrowers shall keep records
of their Inventory which records shall be complete and accurate in all material respects, and shall conduct a physical inventory no less
frequently than annually.

 

6.4.          Payment
of Charges.

 

All amounts properly chargeable
to Borrowers under this Section 6 shall be Obligations, shall be payable on demand and shall bear interest from the date such
advance was made until paid in full at the rate applicable to Base Rate Portions from time to time.

 

SECTION 7. REPRESENTATIONS AND WARRANTIES

 

7.1.          General
Representations and Warranties.

 

To induce Agent and each Lender
to enter into this Agreement and to make advances hereunder, Borrowers represent and warrant to Agent and each Lender, on a joint and
several basis, that:

 

7.1.1.       Organization,
Existence and Qualification. Each Loan Party is a corporation, general partnership, limited partnership, or limited liability
company, as applicable, duly organized, validly existing and in good standing under the laws of the jurisdiction of its
incorporation or organization. Each Loan Party is duly qualified and is authorized to do business and is in good standing as a
foreign limited liability company, limited partnership or corporation, as applicable, in all states and jurisdictions in which the
failure of such Loan Party to be so qualified would reasonably be expected to have a Material Adverse Effect.

 

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7.1.2.       Power and Authority;
No Conflict. Each Loan Party has all requisite power and authority to conduct its business as currently conducted and own its Property
and is duly authorized and empowered to enter into, execute, deliver and perform each of the Loan Documents to which it is a party. The
execution, delivery and performance by each Loan Party of each of the Loan Documents to which it is a party have been duly authorized
by all necessary corporate or other relevant action and do not and will not: (i) contravene, violate or result in a breach of or
default under (a) any Loan Party's charter, articles or certificate of incorporation, certificate of formation, bylaws, limited
liability company or partnership agreement, or other organizational documents (as the case may be), (b) any provision of any law,
rule, regulation, order of any Governmental Authority, writ, judgment, injunction, decree, determination or award in effect having applicability
to such Loan Party, the violation of which would reasonably be expected to have a Material Adverse Effect, or (c) any indenture
or loan or credit agreement or any other agreement, lease or instrument binding on a Loan Party or its Properties, the breach of or default
under which would reasonably be expected to have a Material Adverse Effect; or (ii) result in, or require, the creation or imposition
of any Lien (other than Permitted Liens) upon or with respect to any of the Collateral now owned or hereafter acquired by such Loan Party.

 

7.1.3.       Legally Enforceable
Agreement. This Agreement is, and each of the other Loan Documents when executed and delivered will be, a legal, valid and binding
obligation of each Loan Party party hereto or thereto, enforceable against it in accordance with its respective terms, except as such
enforceability may be limited by applicable bankruptcy, insolvency, reorganization, fraudulent conveyance, or fraudulent transfer laws,
or other similar laws affecting creditors' rights generally, and by general principles of equity (regardless of whether such enforceability
is considered in a proceeding in equity or at law).

 

7.1.4.       Organizational Structure.
Schedule 7.1.4 hereto contains, as of the date of this Agreement, a true and complete organizational structure chart of the Loan
Parties and their respective Subsidiaries, which organizational structure chart includes the exact legal name of each Loan Party and each
of its Subsidiaries and the percentage of Voting Stock owned by each owner of Voting Stock of each such entity (other than Century).

 

7.1.5.       Names; Organization.
Except as set forth on Schedule 7.1.5, none of Borrowers has within the five years immediately preceding the Second Restatement
Effective Date (a) used any legal, fictitious or trade names, or (b) been the surviving entity of a merger or consolidation
or acquired all or substantially all of the assets of any Person. Each of each Borrower's state(s) of incorporation or organization,
Type of Organization and Organizational I.D. Number is set forth on Schedule 7.1.5.

 

7.1.6.       Business Locations;
Inventory. Each of each Borrower's chief executive office, location of books and records and other places of business are as listed
on Schedule 6.1.1 hereto, as updated from time to time by Borrowers in accordance with the provisions of subsection 6.1.1.
Except as shown on Schedule 6.1.1 hereto, as updated from time to time by Borrowers in accordance with the provisions of subsection
6.1.1, no Inventory with a value in excess of $250,000 is stored with a bailee, distributor, warehouseman or similar party, nor is
any Inventory consigned to any Person.

 

    -37-

     

    

 

 

7.1.7.            Title to Properties;
Priority of Liens. Each Borrower has good title to all of the Collateral owned by it from time to time free and clear of all Liens
except Permitted Liens. The provisions of this Agreement and the other Loan Documents create valid Liens on the Collateral in favor of
Agent, for the ratable benefit of the Secured Parties, and upon the filing of the financing statements and the consummation of the other
actions listed on Schedule 7.1.7 hereto, such Liens on the Collateral shall be perfected Liens having priority over all other Liens
on the Collateral other than Permitted Liens having priority by operation of law.

 

7.1.8.            Financial Statements;
Absence of Material Adverse Change; Fiscal Year. Borrowers have delivered to Agent the (a) audited financial statements of Century
and its Subsidiaries as of December 31, 2017, on a Consolidated basis prepared in accordance with GAAP, (b) unaudited interim
financial statements of Century and its Subsidiaries as of March 31, 2018, on a Consolidated basis prepared in accordance with GAAP,
and (c) unaudited interim financial statements of Borrowers and Guarantors as of March 31, 2018, on a consolidating basis. All
such financial statements present fairly in all material respects the financial positions of such Persons at such dates and the results
of such Persons' operations for such periods. As of the date of this Agreement, since December 31, 2017, there has been no material
adverse change in the financial position of Century and its Subsidiaries, taken as a whole. The fiscal year of each Borrower and Guarantor
ends on December 31 of each year.

 

7.1.9.            Full
Disclosure. Neither the Loan Documents nor the financial statements made or delivered by any Loan Party to Agent or any Lender on or
prior to the date of this Agreement contain any untrue statement of a material fact or omit a material fact necessary to make such statements
or information not misleading in light of the circumstances under which such statements were made; provided that with respect
to any projections furnished to Agent or the Lenders, Borrowers represent only that such information was prepared in good faith based
upon assumptions and estimates believed by Borrowers to be reasonable at the time made in light of the circumstances when made, it being
recognized by Agent and the Lenders that such projections as to future events are not to be viewed as facts and that actual results during
the period or periods covered by any such projections may differ from the projected results by a material amount. As
of the Fourth Amendment Effective Date, the information included in the most recent Beneficial Ownership Certification provided to Agent
and Lenders is true and correct in all respects.

 

7.1.10.          Solvency. Each
Loan Party (other than an Insignificant Subsidiary) is, and, after giving effect to the initial Loans and any other Loans made hereunder
and the initial Letters of Credit and any other Letters of Credit to be issued hereunder and all related transactions, will be, Solvent.

 

7.1.11.          Taxes. Each Borrower
(a) has filed all federal, state and local tax returns and other reports relating to taxes it is required by law to file and except
for any such filing the failure of which to file would not reasonably be expected to have a Material Adverse Effect, and (b) has
paid, or made provision for the payment of, all taxes, assessments, fees, levies and other governmental charges upon it, its income and
Properties, except for (i) any such payment or provision the failure of which to pay or make would not reasonably be expected to
have a Material Adverse Effect, and (ii) taxes that are being actively contested in good faith and by appropriate proceedings and
with respect to which such Borrower maintains reserves on its books therefor in accordance with GAAP.

 

    		-38-	 

     

    

 

7.1.12.          Intellectual Property
Relating to Inventory. Each Borrower owns, possesses or licenses or has the right to use all material Intellectual Property necessary
in such Borrower's reasonable judgment for the production, processing, use, and sale or other disposition of its Inventory (its "Inventory
IP") without any known infringement upon the intellectual property rights of others, except for any such infringement that as
would not reasonably be expected to have a Material Adverse Effect.

 

7.1.13.          Governmental Consents.
Each Loan Party has, and is in good standing with respect to, all governmental consents, approvals, licenses, authorizations, permits,
certificates, inspections and franchises necessary to continue to conduct its business as heretofore or proposed to be conducted by it
and to own or lease and operate its Properties as now owned or leased by it, except where any failure to so possess, have, or maintain
any of the foregoing would not reasonably be expected to have a Material Adverse Effect.

 

7.1.14.          Compliance with Laws.
Each Loan Party has duly complied, and its Properties, business operations and leaseholds are in compliance with, the provisions of all
federal, state and local laws, rules and regulations applicable to such Borrower, its Properties or the conduct of its business,
except for any such non-compliance that would not reasonably be expected to have a Material Adverse Effect. There have been no citations,
notices or orders of noncompliance with any applicable laws issued by any Governmental Authority to any Loan Party under any such law,
rule or regulation, except for any such citations, notices or orders in respect of noncompliance the failure to comply with which
would not reasonably be expected to have a Material Adverse Effect.

 

7.1.15.          Restrictive Agreements.
No Loan Party is a party to or subject to any Restrictive Agreements.

 

7.1.16.          Litigation. Except
as set forth on Schedule 7.1.16 hereto or in Century's form 10-K or any form 10-Q filed with the SEC on or after March 31,
2018 and before the Second Restatement Effective Date, there are no actions, suits, proceedings or investigations pending, or to the knowledge
of any Borrower, threatened, against or directly affecting any Loan Party, or the business, operations, Properties, prospects, profits
or condition of any Loan Party, which, individually or in the aggregate would reasonably be expected to be adversely determined, and,
if adversely determined, would reasonably be expected to have a Material Adverse Effect. No Loan Party is in default with respect to any
order, writ, injunction, judgment, decree or rule of any Governmental Authority, which default, individually or in the aggregate,
if not cured, would reasonably be expected to have a Material Adverse Effect.

 

7.1.17.          ERISA. No ERISA
Event has occurred or is reasonably expected to occur that, when taken together with all other ERISA Events that have occurred, would
reasonably be expected to have a Material Adverse Effect.

 

7.1.18.          No Defaults.
As of the Second Restatement Effective Date, no event has occurred and no condition exists which would, upon or after the execution and
delivery of the Loan Documents or any Loan Party's performance hereunder, constitute a Default or an Event of Default.

 

7.1.19.          Related
Businesses. As of the Second Restatement Effective Date, Borrowers are primarily engaged in the business of producing value-added and
standard-grade primary aluminum products, bauxite mining, and alumina refining and businesses and activities related thereto.

 

    		-39-	 

     

    

 

7.1.20.          Margin Regulations.
No Loan Party is engaged in the business of purchasing or selling Margin Stock or extending credit for the purpose of purchasing or carrying
Margin Stock.

 

7.1.21.          Regulated Entities.
No Borrower, nor any Subsidiary of any Borrower, is an "investment company" within the meaning of the Investment Company Act
of 1940. No Borrower or Subsidiary of any Borrower is subject to regulation under the Public Utility Holding Company Act of 1935, the
Federal Power Act, or the Interstate Commerce Act.

 

7.1.22.          Patriot Act.
To the extent applicable, each Loan Party is in compliance, in all material respects, with the (a) Trading with the Enemy Act, as
amended, and each of the foreign assets control regulations of the United States Treasury Department (31 CFR, Subtitle B, Chapter V, as
amended) and any other enabling legislation or executive order relating thereto, and (b) Uniting and Strengthening America by Providing
Appropriate Tools Required to Intercept and Obstruct Terrorism (USA Patriot Act of 2001) (the "Patriot Act").

 

7.1.23.          Century Kentucky, Inc.
Century Kentucky, Inc. has no business operations, assets (other than amounts due from affiliates) or activities, other than those
incidental to the conduct of its business as a holding company.

 

7.1.24.         Sanctions;
Anti-Corruption Laws; Anti-Money Laundering Laws. No Loan Party or any of its Subsidiaries is in violation of any Sanctions. No Loan
Party nor any of its Subsidiaries, nor, to the knowledge of such Loan Party, any director, officer, employee, agent or Affiliate of such
Loan Party or such Subsidiary (a) is a Sanctioned Person or a Sanctioned Entity, (b) has any assets located in Sanctioned Entities, or
(c) derives revenues from investments in, or transactions with Sanctioned Persons or Sanctioned Entities. Each of the Loan Parties and
its Subsidiaries has implemented and maintains in effect policies and procedures designed to ensure compliance with all Sanctions, Anti-Corruption
Laws and Anti-Money Laundering Laws. Each of the Loan Parties and its Subsidiaries, and to the knowledge of each such Loan Party, each
director, officer, employee, agent and Affiliate of each such Loan Party and each such Subsidiary, is in compliance with all Sanctions,
Anti-Corruption Laws and Anti-Money Laundering Laws. No proceeds of any Loan made or Letter of Credit issued hereunder will be used to
fund any operations in, finance any investments or activities in, or make any payments to, a Sanctioned Person or a Sanctioned Entity,
or otherwise used in any manner that would result in a violation of any Sanction, Anti-Corruption Law or Anti-Money Laundering Law by
any Person (including any Lender, Bank Product Provider, or other individual or entity participating in any transaction).

 

7.2.            Reaffirmation
of Representations and Warranties.

 

Borrowers acknowledge that
each Loan request made or deemed made hereunder shall constitute Borrowers' reaffirmation, as of the date of each such Loan request,
of the truth and correctness in all material respects of each representation and warranty made or furnished to Agent or any Lender by
or on behalf of any Loan Party in each of the Loan Documents (except to the extent any such representation or warranty expressly relates
to an earlier date, in which case such reaffirmation shall be of the truth and correctness in all material respects of such representation
or warranty as of such earlier date).

 

    		-40-	 

     

    

 

7.3.            Survival
of Representations and Warranties.

 

All representations and warranties
of Borrowers contained in this Agreement or any of the other Loan Documents shall survive the execution, delivery and acceptance thereof
by Agent and each Lender and the parties thereto and the closing of the transactions described therein or related thereto.

 

SECTION 8. COVENANTS AND CONTINUING AGREEMENTS

 

8.1.            Affirmative
Covenants.

 

During the Term, and thereafter
for so long as there are any Obligations outstanding (other than contingent indemnity and expense reimbursement obligations for which
no claim has been made) and the Revolving Loan Commitments have not been terminated, Borrowers jointly and severally covenant that they
shall, unless otherwise consented to by Majority Lenders in writing in accordance with subsection 12.2.1:

 

8.1.1.            Visits and Inspections.
Subject to the limitations set forth in Section 2.6 and Section 6 permit representatives of Agent, and during
the continuance of any Default or Event of Default any Lender, from time to time, as often as may be reasonably requested, but only during
normal business hours and without undue interruption of normal business activities, to visit and inspect the facilities of each Loan Party,
inspect and make extracts from its books and records, appraise the Collateral, and discuss with its officers, each Loan Party's business,
assets, liabilities, financial condition and results of operations. Agent, if no Default or Event of Default then exists, shall give the
Loan Parties reasonable prior written notice of any such inspection.

 

8.1.2.            Notices. Promptly,
and in any event within three Business Days after a Responsible Officer of any Borrower obtains knowledge thereof, notify Agent (for
further notice to Lenders) in writing of the occurrence of (i) any Default or Event of Default, and (ii) any development
that has had, or would reasonably be expected to have, a Material Adverse Effect.

 

8.1.3.            Records and Books;
Financial Statements. Keep adequate records and books of account with respect to its business activities in which proper entries are
made in accordance with customary accounting practices reflecting its financial transactions; and cause to be prepared and furnished to
Agent (for further delivery to Lenders), the following:

 

(a)        
not later than 90 days after the close of each fiscal year of Borrowers, (A) unqualified (except
for a qualification for a change in accounting principles with which the accountant concurs) audited financial statements (such financial
statements to include a balance sheet, income statement, and statement of cash flow) of Century and its Subsidiaries as of the end of
such year, on a Consolidated basis, certified by Deloitte & Touche or another firm of independent certified public accountants
of recognized standing selected by Borrowers and reasonably acceptable to Agent (which financial statements (1) shall be prepared
in accordance with GAAP, applied on a consistent basis, unless Borrowers' certified public accountants concur in any change therein and
such change is disclosed to Agent and is consistent with GAAP, and (2) shall not contain any paragraph of emphasis or explanatory
note calling in to question the ability of Century to continue as a going concern), and (B) unaudited financial statements (consisting
of a balance sheet and income statement) of Century and its Subsidiaries for such fiscal year, on a consolidating basis certified by
a Financial Officer of Century as fairly presenting in all material respects the financial position and results of operations of Century
and its applicable Subsidiaries for such fiscal year, subject only to changes from audit and year-end adjustments and except that such
statements need not contain notes, it being understood that the income statement and balance sheet shall show eliminations/reclassifications
on a consolidated basis for Century and its Subsidiaries to the consolidated income statement and balance sheet of Century;

 

    		-41-	 

     

    

 

(b)            not
later than 45 days after the end of Borrowers' first three fiscal quarters of each fiscal year and 60 days after the end of Borrowers'
last fiscal quarter of each fiscal year, unaudited interim financial statements (consisting of a consolidating balance sheet and income
statement and a consolidated statement of cash flow) of Century and its Subsidiaries (which financial statements shall be prepared in
accordance with GAAP, applied on a consistent basis, unless Borrowers' certified public accountants concur in any change therein and such
change is disclosed to Agent and is consistent with GAAP), in each case as of the end of such fiscal quarter and for the portion of the
fiscal year then elapsed, and in each case certified by a Financial Officer of Century as fairly presenting in all material respects the
financial position and results of operations of Century and its applicable Subsidiaries for such quarter and period subject only to changes
from audit and year-end adjustments and except that such statements need not contain notes, it being understood that the income statement
and balance sheet shall show eliminations/reclassifications on a consolidated basis for Century and its Subsidiaries to the consolidated
income statement and balance sheet of Century;

 

(c)            not
later than 30 days after the end of each month, including the last month of Borrowers' fiscal year, unaudited interim financial statements
(consisting of a balance sheet and income statement) of Century and its Subsidiaries, on a consolidating basis, in each case as of the
end of such month and for the portion of the fiscal year then elapsed, and in each case certified by a Financial Officer of Century as
fairly presenting in all material respects the financial position and results of operations of Century and its applicable Subsidiaries
for such month and period subject only to changes from audit and year-end adjustments and except that such statements need not contain
notes, it being understood that the income statement and balance sheet shall show eliminations/reclassifications on a consolidated basis
for Century and its Subsidiaries to the consolidated income statement and balance sheet of Century; provided, that any certification
required to be delivered pursuant to this subsection (c) shall be qualified in that the Financial Officer of Century shall make no
representation as to any elimination adjustments included in such financial statements;

 

(d)            promptly
after the sending or filing thereof, as the case may be, copies of any proxy statements, financial statements or reports of a financial
nature which Borrower Representative has made available to its Securities holders generally and copies of any regular, periodic and material
special reports or registration statements which Borrower Representative or any of its Subsidiaries files with the SEC or any
Governmental Authority which may be substituted therefor or any national securities exchange; and

 

    		-42-	 

     

    

 

(e)            promptly
after request, such other data and information (financial and otherwise),
including all documentation and other information as may be required to comply with applicable "know your customer" and Anti-Money
Laundering Laws (including under the USA Patriot Act and the Beneficial Ownership Regulation), in each case as Agent or a Lender
may reasonably request from time to time, bearing upon or related to the Collateral or Borrowers' financial condition or results of operations.

 

Information required to be furnished
pursuant to subsections 8.1.3(a), (b) and (d) above shall be deemed to have been delivered on the date
on which Century provides notice to Agent that such information has been posted on Century's website on the Internet at the website address
listed on the signature pages hereof, at sec.gov/edaux/searches.htm or at another website identified in such notice and accessible
by Lenders without charge; provided that (A) such notice may be included in a certificate delivered pursuant to subsection
8.1.3(b), and (B) Borrowers shall deliver paper copies of the information referred to in subsections 8.1.3(a), (b) and
(d) to Agent if Agent requests delivery thereof.

 

Concurrently with furnishing
the financial statements described in subsections 8.1.3(a), (b) and (c), or more frequently if reasonably requested
by Agent, Borrowers shall cause to be prepared and furnished to Agent (for
further delivery to Lenders) a Compliance Certificate.

 

8.1.4.            Borrowing
Base Certificates. On or before the 15th day of the first month following the end of each fiscal quarter of Borrowers (or, (i) at
any time Availability falls below the Monthly Reporting Trigger Amount, monthly (no later than the 15th day of each fiscal month of Borrowers)
until Availability exceeds the Monthly Reporting Trigger Amount for 60 consecutive days, or (ii) at any time Availability falls
below the Weekly Reporting Trigger Amount, weekly (no later than the third Business Day of each week) until Availability exceeds the
Weekly Reporting Trigger Amount for 60 consecutive days), Borrower Representative shall deliver to Agent (for
further delivery to Lenders) a Borrowing Base Certificate as of the last day of the immediately preceding fiscal quarter (or
month or week, as applicable). Each Borrowing Base Certificate shall contain a schedule providing details for any FIFO reserve or LCM
(lower of cost or market) adjustments. Within 45 days after the end of each fiscal quarter of Century, Borrowers shall provide a reconciliation
of the FIFO reserves and LCM adjustments reflected in the Borrowing Base Certificate as of the end of such fiscal quarter to the FIFO
reserves and LCM adjustments reflected on Century's consolidated balance sheet as of the last day of such fiscal quarter, together with
such other information as Agent shall reasonably request to substantiate the FIFO reserves and LCM adjustments reflected in the Borrowing
Bases delivered during such fiscal quarter. If Borrowers deem it advisable, Borrowers may execute and deliver to Agent Borrowing Base
Certificates more frequently than as required pursuant to this subsection 8.1.4 (including, without limitation, for purposes of
evidencing compliance with Section 8.2.18 at any time when Borrowers are delivering monthly Borrowing Base Certificates, an updated
Borrowing Base Certificate reflecting the Qualified Cash Amount, the amount of outstanding Revolving Credit Loans and the LC Exposure
as of such date). Borrowers shall also deliver to Agent the reports set forth on Schedule 8.1.4 at the times specified therein.

 

8.1.5.            Projections.
No later than the first day of each fiscal year of Century, deliver to Agent (for
further delivery to Lenders) Projections for Century and its Subsidiaries, on a Consolidated basis, and for Borrowers and
Guarantors, on a Consolidated basis, covering such fiscal year on a month-by-month basis.

 

    		-43-	 

     

    

 

8.1.6.            Taxes
and Other Obligations. (a) File when due all tax returns and other reports which any of them are required to file and the failure
of which to file would reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect; (b) pay, or
provide for the payment when due of, all taxes, fees, assessments and other governmental charges against it or upon its property, income
and franchises, the failure of which to pay would reasonably be expected, individually or in the aggregate, to have a Material Adverse
Effect; and (c) pay when due all Indebtedness owed by it and all claims of materialmen, mechanics, carriers, warehousemen, landlords,
processors and other like Persons, and all other indebtedness owed by it and perform and discharge in a timely manner all other obligations
undertaken by it, in each case the failure of which to pay, perform, or discharge would reasonably be expected, individually or in the
aggregate, to have a Material Adverse Effect.

 

8.1.7.            Legal Existence and
Good Standing. Maintain their respective legal existences and qualifications and good standing in all jurisdictions in which the failure
to maintain such existence and qualification or good standing would reasonably be expected, individually or in the aggregate, to have
a Material Adverse Effect.

 

8.1.8.            Compliance with Law.
Comply with all Requirements of Law of any Governmental Authority having jurisdiction over them or their businesses except where the failure
to comply with such Requirements of Law would not reasonably be expected to have a Material Adverse Effect.

 

8.1.9.            Maintenance of Property
and Licenses. (a) Maintain all of their Property material to the conduct of their businesses in good operating condition and
repair, ordinary wear and tear excepted, and (b) obtain and maintain in effect at all times all franchises, governmental authorizations, Intellectual
Property rights, licenses, and permits, in each case which are necessary for them to own their Property or conduct their business, except
where the failure to obtain and/or maintain any of the foregoing would not be reasonably expected to have a Material Adverse Effect.

 

8.1.10.         Fixed
Charge Coverage Ratio. Maintain a Fixed Charge Coverage Ratio, measured for the 12 month period ending on the last day of each fiscal
month during a Covenant Testing Period (including the first and last day thereof (if such last day is the last day of a fiscal month))
of at least 1.0 to 1.0.

 

8.1.11.         Sanctions;
Anti-Corruption Laws; Anti-Money Laundering Laws. Each Loan Party will, and will cause each of its Subsidiaries to comply with all
applicable Sanctions, Anti-Corruption Laws and Anti-Money Laundering Laws. Each of the Loan Parties and its Subsidiaries shall implement
and maintain in effect policies and procedures designed to ensure compliance by the Loan Parties and their Subsidiaries and their respective
directors, officers, employees, agents and Affiliates with all Sanctions, Anti-Corruption Laws and Anti-Money Laundering Laws. Each of
the Loan Parties shall and shall cause their respective Subsidiaries to comply with all Sanctions, Anti-Corruption Laws and Anti-Money
Laundering Laws.

 

    		-44-	 

     

    

 

8.2.            Negative
Covenants.

 

During the Term, and thereafter
for so long as there are any Obligations outstanding (other than contingent indemnity and expense reimbursement obligations for which
no claim has been made) and the Revolving Loan Commitments have not been terminated, Borrowers covenant that they shall not, unless otherwise
consented to by Majority Lenders in writing in accordance with subsection 12.2.1:

 

8.2.1.            Mergers; Consolidations;
Acquisitions; Structural Changes. Merge or consolidate with any Person; nor change their states of incorporation or organization,
Types of Organization or Organizational I.D. Numbers; nor change their legal names; nor acquire all or any substantial part of the Properties
of any Person, except for:

 

(i)              (a) mergers
of any Loan Party into a Borrower where the Borrower is the surviving entity and (b) mergers of any Person into a Borrower where
the Borrower is the surviving entity, so long as such merger constitutes an investment that satisfies the criteria of clause (xii) of
the definition of Restricted Investment;

 

(ii)             acquisitions
of assets consisting of fixed assets or real Property that constitute Capital Expenditures;

 

(iii)            acquisitions
by a Borrower of all or any substantial part of the Securities or assets of (a) any Loan Party or (b) any Person, so long as
such acquisition constitutes an investment that satisfies the criteria of clause (xii) of the definition of Restricted Investment;
and

 

(iv)           changes
in legal name, state of incorporation or organization, Type of Organization or Organizational I.D. made after 30 days' prior written notice
to Agent.

 

8.2.2.            Indebtedness. Create, incur, assume,
or suffer to exist any Indebtedness, except:

 

(i)              Obligations
owing to Agent or any Lender under this Agreement or any of the other Loan Documents;

 

(ii)             Indebtedness
under (a) the 2021 Indenture and any extension or refinancing thereof pursuant to Permitted Refinancing Indenture Documents and (b) the
2021 Convertible Notes Indenture;

 

(iii)            Indebtedness
existing on the date of this Agreement and listed on Schedule 8.2.2;

 

(iv)           Permitted
Purchase Money Indebtedness and Capital Lease Obligations (to the extent permitted by the definition of Permitted Purchase Money Indebtedness);

 

(v)            contingent
liabilities arising out of endorsements of checks and other negotiable instruments for deposit or collection in the ordinary course of
business;

 

(vi)           Guaranties of any Indebtedness
permitted hereunder;

 

    		-45-	 

     

    

 

(vii)          Indebtedness
in respect of intercompany loans that do not constitute Restricted Investments under clauses (i), (ii) or (xii) of the definition
of Restricted Investment;

 

(viii)         Indebtedness
consisting of the deferred purchase price for power or insurance premiums pursuant to any provision in a power contract or insurance policy
(or related agreement) that permits payment of a portion thereof to be deferred;

 

(ix)            Indebtedness
incurred to repurchase stock to the extent permitted by subsection 8.2.5;

 

(x)             Derivative
Obligations entered into for bona fide hedging purposes and not for speculative purposes;

 

(xi)            Indebtedness
to the extent not included in clauses (i) through (x) above, which is permitted under (a) Section 4.06 of the 2021
Indenture as in effect on the Second Amendment Effective Date or (b) any debt covenant contained in the Permitted Refinancing Indenture
Documents so long as such debt covenants are reasonably acceptable to Agent and Majority Lenders; and

 

(xii)           renewals,
extensions, and refinancings of Indebtedness permitted by this subsection 8.2.2; provided that any such renewal, extension,
or refinancing is in an aggregate principal amount not greater than the principal amount of, and is on terms no less favorable taken as
a whole to any Borrower obligated thereunder, including as to weighted average maturity and final maturity, than the Indebtedness being
renewed, extended, or refinanced.

 

Borrowers shall cause any agreements
in respect of indebtedness secured by any Borrower's real property to contain provisions permitting Agent to access the premises in connection
with the exercise of its remedies upon default (such provisions to be consistent with the provisions attached hereto as Exhibit J).

 

8.2.3.            Affiliate Transactions.
Enter into, or be a party to, or permit any Guarantor to enter into or be a party to, any transaction with any Affiliate of Borrowers,
including any agreement or arrangement for payment of management, consulting or similar fees, except if such transaction would be permitted
to be entered into by Century or its "Restricted Subsidiaries" pursuant to (i) Section 4.14 of the 2021 Indenture
as in effect on the Second Amendment Effective Date or (ii) any affiliate transaction covenant contained in the Permitted Refinancing
Indenture Documents so long as such affiliate transaction covenants are reasonably acceptable to Agent and Majority Lenders.

 

8.2.4.            Limitation on Liens.
Create or suffer to exist any Lien upon any of the Collateral, except (each of the following, a "Permitted Lien"):

 

(i)             Liens at any time granted in favor
of Agent for the benefit of the Secured Parties;

 

(ii)            Liens
for taxes, assessments or governmental charges (excluding any Lien imposed pursuant to any of the provisions of ERISA) which are not
yet due, or which are being contested in good faith and by appropriate proceedings, and for which the applicable Borrower maintains reserves
on its books in accordance with GAAP;

 

    		-46-	 

     

    

 

(iii)           Liens arising
in the ordinary course of the business of any Borrower by operation of law or regulation (including liens of carriers, warehousemen, mechanics,
materialmen and other like Liens), (A) securing obligations that are not overdue by more than 30 days or which are being contested
in good faith by appropriate proceedings and for which the affected Borrower maintains reserves on its books in accordance with GAAP and
(B) which Liens do not, in the aggregate, materially detract from the value of the Collateral of such Borrower or materially impair
the use thereof in the operation of the business of such Borrower;

 

(iv)           Liens existing
on the date of this Agreement and identified on Schedule 8.2.4;

 

 (v)            [intentionally omitted];

 

(vi)           Liens
incurred or deposits made in the ordinary course of business in connection with (A) workers' compensation, social security,
unemployment insurance, pension and other like laws or (B) contracts, leases, statutory obligations, work in progress advances,
bids, tenders, indemnity or performance bonds and other similar obligations incurred in the ordinary course of business and which
are not incurred in connection with the borrowing of money or the payment of the deferred purchase price of Property;

 

(vii)          judgment
Liens that do not give rise to an Event of Default under subsection 10.1.13;

 

(viii)         rights
of setoff or bankers' liens upon deposits of cash in favor of banks or other depository institutions, solely to the extent incurred in
connection with the maintenance of such deposit accounts in the ordinary course of business; and

 

(ix)           such
other Liens as Majority Lenders may hereafter approve in writing.

 

8.2.5.            Distributions. Declare or make, or
permit any Guarantor to declare or make, any Distributions, except for:

 

 (i)             Distributions by any Person to a Borrower;

 

(ii)            Distributions
paid solely in Securities of the Borrower or Guarantor making the Distribution;

 

(iii)           Distributions
by Century which would be permitted to be made by Century pursuant to (a) Sections 4.07(b)(vi) and 4.07(b)(x) of the 2021
Indenture as in effect on the Second Amendment Effective Date or (b) any restricted payment covenant contained in the Permitted Refinancing
Indenture Documents so long as such restricted payment covenants are reasonably acceptable to Agent and Majority Lenders;

 

    		-47-	 

     

    

 

 

(iv)        Distributions
not included in paragraphs (i) through (iii) above; provided that, (i) no Default or Event of Default has occurred
and is continuing or would be caused thereby and (ii) after giving effect to such Distribution, either (A) Availability shall
be equal to or greater than the greater of (I) an amount equal to 17.5% of the Line Cap and (II) $20,000,00028,500,000,
or (B)(I) Availability shall be equal to or greater than the greater of (y) an amount equal to 12.5% of the Line Cap and (z) $15,000,00021,500,000,
and (II) Borrowers and Guarantors shall have a pro forma Fixed Charge Coverage Ratio of not less than 1.1 to
1.0 as of the last day of the immediately preceding four fiscal quarters for which financial statements have been filed with the SEC,
taken as a single period or, if not so filed, then for which such financial statements were required to have been delivered under the
Agreement; and

 

(v)         the payment
of Distributions within 60 days after the date of declaration thereof, so long as no Default or Event of Default exists or would be caused
thereby, provided that the declaration thereof was permitted under this subsection 8.2.5.

 

 8.2.6.          Intentionally Omitted.

 

8.2.7.          Disposition of Collateral.
Sell, lease or otherwise dispose of any of the Collateral to or in favor of any Person, except for:

 

 (i)          sales of Inventory in the ordinary course of business;

 

(ii)         dispositions of Inventory that is
damaged, obsolete, uneconomic, off-specification, or no longer used or useful so long as Borrowers comply with subsection 3.3.2 in
connection with such disposition;

 

(iii)        transfers
solely among Borrowers; and

 

 (iv)        other dispositions expressly authorized by this Agreement.

 

8.2.8.          Restricted Investment.
Make or have, or permit any Guarantor to make or have, any Restricted Investment.

 

8.2.9.          Organizational Documents.
Agree to, or suffer to occur, any amendment, supplement or addition to its charter, articles or certificate of incorporation, certificate
of formation, partnership agreement, bylaws, limited liability agreement, operating agreement or other organizational documents (as the
case may be), that would reasonably be expected to have a Material Adverse Effect.

 

 8.2.10.          Fiscal Year End. Change its fiscal year end.

 

8.2.11.          Business Conducted. Engage,
directly or indirectly, in any line of business other than the businesses in which Borrowers are engaged on the Second Restatement
Effective Date and Related Businesses.

 

 8.2.12.          Restrictive Agreements. Enter into any Restrictive Agreements.

 

    -48-

     

    

 

8.2.13.          Use
of Proceeds. Use any portion of the Loan proceeds, directly or indirectly, for any purpose other than (i) the payment of
certain fees and expenses associated with this Agreement and the transactions contemplated hereby, (ii) to issue standby or
commercial letters of credit, (iii) to finance permitted Capital Expenditures, (iv) to finance ongoing working capital
needs, and (v) for other general corporate purposes, including any purpose expressly permitted by this Agreement. Without
limitation of the foregoing provision, Borrowers shall not use any portion of the Loan proceeds, directly or indirectly, (1) to
purchase or carry Margin Stock, (2) to repay or otherwise refinance indebtedness of any Borrowers or others incurred to
purchase or carry Margin Stock, (3) to extend credit for the purpose of purchasing or carrying any Margin Stock, (4) to
acquire any security in any transaction that is subject to Section 13 or 14 of the Exchange Act, (5) to make any payments
to a Sanctioned Entity or a Sanctioned Person, to fund any investments, loans or contributions in, or otherwise make such proceeds
available to, a Sanctioned Entity or a Sanctioned Person, to fund any operations, activities or business of a Sanctioned Entity or a
Sanctioned Person, or in any other manner that would result in a violation of Sanctions by any Person, or (6) in furtherance of
an offer, payment, promise to pay, or authorization of the payment or giving of money, or anything else of value, to any Person in
violation of any Sanctions, Anti-Corruption Laws or Anti-Money Laundering Laws.

 

8.2.14.          Prepayments.
Except in connection with a refinancing permitted by subsection 8.2.2(xi), optionally or voluntarily prepay any Indebtedness
of any Loan Party or optionally or voluntarily, redeem, defease, purchase, or otherwise acquire any Indebtedness of any Loan Party,
other than (i) the Obligations in accordance with this Agreement, (ii) intercompany loans among the Borrowers (including
loan payments that flow or pass through a Guarantor to a Borrower) permitted under Section 8.2.2(vi), (iii) the
refinancing, redemption, defeasance, purchase or other acquisition of the Indebtedness evidenced by the 2021 Indenture with proceeds
of Indebtedness incurred under the Permitted Refinancing Indenture Documents or (iv) payments, redemptions, defeasances,
purchases or other acquisitions of Indebtedness if (A) no Default or Event of Default has occurred and is continuing or would
be caused thereby and (B) either (I) Availability shall be equal to or greater than the greater of (1) an amount
equal to 17.5% of the Line Cap and (2) $20,000,00028,500,000,
or (II)(1) Availability shall be equal to or greater than the greater of (y) an amount equal to 12.5% of the Line Cap and
(z) $15,000,00021,500,000,
and (2) Borrowers and Guarantors shall have a pro forma Fixed Charge Coverage Ratio of not less than 1.1 to 1.0 as of
the last day of the immediately preceding four fiscal quarters for which financial statements have been filed with the SEC, taken as
a single period or, if not so filed, then for which such financial statements were required to have been delivered under the
Agreement, in each case immediately following such proposed payment, redemption, defeasance, purchase or other acquisition.

 

8.2.15.          Transactions with
Insolvent Insignificant Subsidiary. Notwithstanding anything contained herein or in the other Loan Documents to the contrary, (i) make
a loan or advance to, or other investment in (including by providing any form of guaranty, letter of credit or other financial support),
(ii) sell, lease, license, assign, contribute or otherwise transfer any assets to, (iii) make any distributions or payments
to, or (iv) otherwise engage in, or enter into, any transaction with, any Insolvent Insignificant Subsidiary, except that a Borrower
may make loans, advances and other investments in any such Insolvent Insignificant Subsidiary so long as such loan, advance or investment
would not be a Restricted Investment under clause (xii) of the definition of Restricted Investment.

 

    -49-

     

    

 

8.2.16.          Restrictions on Insolvent
Insignificant Subsidiary. Notwithstanding anything contained herein or in the other Loan Documents to the contrary, permit an Insolvent
Insignificant Subsidiary to, and no Insolvent Insignificant Subsidiary shall be entitled to, borrow any Revolving Credit Loans or request
Letters of Credit for its account or receive any proceeds of Revolving Credit Loans for its benefit.

 

8.2.17.          Century Kentucky, Inc.
Permit Century Kentucky, Inc. to conduct business operations or activities, or own any assets (other than amounts due from affiliates),
other than those incidental to the conduct of its business as a holding company.

 

8.2.18.          Qualified Cash.
Withdraw, transfer or otherwise encumber any Qualified Cash from the deposit account or securities account maintaining such Qualified
Cash to the extent that, after giving effect to any such withdrawal, transfer or other encumbrance, Availability would be less than or
equal to $15,000,000 (it being agreed and understood that Agent may issue a notice of control or otherwise block the applicable Borrower's
access to any account maintaining Qualified Cash in the event that any Borrower seeks to withdraw or otherwise transfer Qualified Cash
in violation of this Section 8.2.18).

 

SECTION 9. CONDITIONS PRECEDENT

 

9.1.          Conditions
Precedent to Effectiveness of this Agreement.

 

Notwithstanding any other
provision of this Agreement or any of the other Loan Documents, and without affecting in any manner the rights of Agent or any Lender
under the other sections of this Agreement, no Lender shall be required to make any Loan under this Agreement, nor shall Agent be required
to issue or procure any Letter of Credit under this Agreement, unless and until each of the following conditions has been and continues
to be satisfied on the Second Restatement Effective Date:

 

9.1.1.          Documentation.
Agent shall have received a duly executed copy of this Agreement and the other Loan Documents.

 

9.1.2.          No
Default. No Default or Event of Default shall have occurred and be continuing.

 

9.1.3.          Other Conditions. Each of the other conditions precedent required by the Loan Documents to have been satisfied on or prior to the Second Restatement Effective
Date shall have been satisfied.

 

9.1.4.          Availability.
Agent shall have determined that as of the Second Restatement Effective Date and immediately after giving effect to any Loans to be made
and Letters of Credit to be issued or outstanding on the Second Restatement Effective Date, and the payment by Borrowers of all closing
costs incurred in connection with the transactions contemplated hereby, the sum of Availability plus Qualified Cash of the Borrowers shall
not be less than $50,000,000.

 

9.1.5.          No
Litigation. No action, proceeding, investigation, regulation or legislation shall have been instituted, threatened or proposed
before any court, governmental agency or legislative body to enjoin, restrain or prohibit, or to obtain damages in respect of, or which
is related to or arises out of this Agreement or the consummation of the transactions contemplated hereby.

 

    -50-

     

    

 

9.1.6.          Material Adverse Effect.
As of the Second Restatement Effective Date, since December 31, 2017, no event or condition exists which has resulted in or would
be reasonably likely to result in a Material Adverse Effect.

 

9.1.7.          Closing
Fees. On or prior to the Second Restatement Effective Date, (i) Agent shall have
received, for its account or the account of Lenders, as applicable, payment in full by Borrowers of the fees required to be paid to
Agent or Lenders under or in connection with this Agreement on the Second Restatement Effective Date (including the fees due on the
Second Restatement Effective Date pursuant to the Fee Letter), and (ii) Agent shall have received evidence satisfactory to
Agent that the reasonable and documented fees and expenses of Agent's counsel incurred or accrued through the Second Restatement
Effective Date have been paid by Borrowers provided, that Agent shall have delivered the documentation of such fees and
expenses to Borrower Representative not later than two Business Days prior to the Second Restatement Effective Date.

 

9.1.8.          Other.
On or prior to the Second Restatement Effective Date, Agent shall have received each of the following in form and substance
reasonably satisfactory to it (and duly executed by each of the parties thereto, to the extent applicable):

 

(i)          Reaffirmation
of Amended and Restated Guaranty Agreement executed by each of the Guarantors in favor of Agent;

 

(ii)          Certificate
of a Secretary or other appropriate officer of Borrowers and Guarantors certifying as to (a) Certificate of Incorporation (or equivalent
organizational document), (b) Bylaws (or equivalent organizational documents), and (c) resolutions approving the transactions
contemplated hereby;

 

(iii)          Certificate
of a Secretary or other appropriate officer of Borrowers and Guarantors certifying as to the incumbency of each of the officers of Borrowers
and Guarantors executing the Loan Documents;

 

(iv)          Certificate
of a Vice President or other appropriate officer of Borrowers and Guarantors certifying as to representations and warranties, no Default,
Solvency, and other matters;

 

(v)          Good standing
certificates for each of the Borrowers and Guarantors from the Secretary of State of its respective jurisdiction of organization;

 

(vi)          Evidence
of all insurance coverage required by the Loan Documents;

 

 (vii)          Fee Letter;

 

(viii)          Opinion of
Vedder Price, special New York counsel to the Borrowers and the Guarantors; and

 

    -51-

     

    

 

(ix)          Opinion of Frost Brown Todd,
special Kentucky counsel to NSA and Century of Kentucky GP.

 

9.1.9.          Patriot Act. Completion
of (i) Patriot Act searches, OFAC/PEP searches and customary individual background checks for each Loan Party, and (ii) OFAC/PEP
searches and customary individual background searches for each Loan Party's senior management, key principals, and legal and beneficial
owners, the results of which shall be satisfactory to Agent.

 

9.2.          Conditions
Precedent to Each Loan and Letter of Credit.

 

The obligation of each Lender
on any date (including the Second Restatement Effective Date) to make any Loan and of Issuing Lender on any date (including the Second
Restatement Effective Date) to issue, or cause Underlying Issuer to issue, any Letter of Credit is subject to the satisfaction of each
of the following conditions precedent:

 

9.2.1.          Representations and
Warranties; No Default. Both before and after giving effect thereto and, in the case of any Loan, to the application of the proceeds
thereof:

 

(a)          the
representations and warranties set forth in each of the Loan Documents shall be true and correct in all material respects on and as of
the Second Restatement Effective Date and on and as of such date with the same effect as though made on and as of such date (except to
the extent such representations and warranties by their terms expressly relate to an earlier date, in which case such representations
and warranties shall have been true and correct, in all material respects, as of such earlier date); and

 

 (b)          No Default or Event of Default shall exist.

 

9.2.2.          Borrowing Base Certificate.
Borrowers shall have delivered the Borrowing Base Certificate most recently required to have been delivered by them pursuant to subsection
8.1.4 and Borrowers shall have, in the Reasonable Credit Judgment of Agent, sufficient Availability pursuant thereto for the making
of the proposed Loan or the issuance of the proposed Letter of Credit.

 

9.2.3.          2021 Indenture. The incurrence by Borrowers of the Indebtedness comprising such Loans or Letter of Credit, as applicable, shall be permitted
to be incurred under the terms of the 2021 Indenture and any extension or refinancing thereof pursuant to Permitted Refinancing Indenture
Documents.1

 

9.2.4.          9.2.3.
Restrictions on Loans and Letters of Credit After Notice of Intent to Implement Reserves. Notwithstanding anything
contained in this Agreement to the contrary, in the event Agent has provided written notice of its intention to implement or increase
a Reserve or change any concentration percentages set forth in clause (xv) of the definition of Eligible Accounts pursuant to Section 1.1.1
but the 5 Business Day notice period referred to in Section 1.1.1 has not expired, no Lender shall have any obligation to make any
Loan during such 5 Business Day period and Issuing Lender shall have no obligation to issue, or cause Underlying Issuer to issue, any Letter of Credit during such
5 Business Day period, if Availability (calculated as if such proposed Reserve had been implemented as of the date of the requested Loan
or Letter of Credit) is less than the Covenant Trigger Amount.

 

 

 

1 NTD:
Additional CP due to 2021 Indenture governing ABL debt incurrence at greater of (i) $225MM and (ii) the
sum of (x) 85% of the book value of the accounts receivable and (y) 80% of the book value of the inventory.

 

    -52-

     

    

 

SECTION 10. EVENTS OF DEFAULT; RIGHTS AND REMEDIES
ON DEFAULT

 

10.1.          Events of Default.

 

The occurrence of one or more
of the following events shall constitute an "Event of Default":

 

10.1.1.          Nonpayment of Obligations.
Borrowers shall fail to pay (i) any principal of any Loan or any LC Obligations on the due date thereof (whether due at stated maturity,
on demand, upon acceleration or otherwise), or (ii) any interest on the Obligations or any other Obligations (other than principal
of Loans or LC Obligations) within three Business Days of when the same shall become due and payable (whether due at stated maturity,
on demand, upon acceleration or otherwise).

 

10.1.2.          Misrepresentations.
Any representation or warranty made or furnished to Agent or any Lender by or on behalf of any Borrower or any Guarantor in any of the
Loan Documents proves to have been false or misleading in any material respect when made, deemed made, furnished or reaffirmed pursuant
to Section 7.2 hereof, and, if the circumstances giving rise to such false or misleading representation or warranty are susceptible
of being cured in all material respects, such false or misleading representation or warranty shall not be cured in all material respects
for five days after the earlier to occur of (i) the date on which a Responsible Officer of Borrower Representative shall obtain knowledge
thereof, or (ii) the date on which written notice thereof shall have been given to Borrowers by Agent.

 

10.1.3.          Breach of Specific
Covenants. Any Borrower shall fail or neglect to perform, keep or observe any covenant contained in Section or subsection
5.3, 6.1.1 (first sentence), 6.1.2 (first two sentences), 6.2.3, 6.2.4, 8.1.1, 8.1.2, 8.1.7,
8.1.9, 8.1.10, 8.1.11 or 8.2 hereof on the date that Borrowers are required to perform, keep or observe such
covenant or shall fail or neglect to perform, keep or observe any covenant contained in subsection 8.1.3, 8.1.4, or 8.1.5
hereof within five days following the date on which Borrowers are required to perform, keep or observe such covenant.

 

10.1.4.          Breach of Other Covenants.
Borrowers shall fail or neglect to perform, keep or observe any covenant contained in this Agreement (other than a covenant which is addressed
specifically elsewhere in this Section 10.1) and the breach of such other covenant is not cured within 30 days after the earlier
to occur of any Borrower's receipt of notice of such breach from Agent or the date on which such failure or neglect first becomes known
to any Responsible Officer of Borrower Representative.

 

10.1.5.          Default
Under Other Loan Documents. Any default or event of default shall occur under, or any Loan Party shall default in the performance
or observance of any term, covenant, condition or agreement (other than payment of any of the Obligations) contained in, any of the Loan
Documents (other than this Agreement) and such default or event of default shall continue beyond any applicable grace period, or, if
no grace period is specified, within 30 days after the sooner to occur of any Borrower's receipt of notice of such breach from Agent
or the date on which such failure or neglect first becomes known to any Responsible Officer of Borrower Representative.

 

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10.1.6.          Other Defaults.
There shall occur any default or event of default on the part of any Loan Party under any agreement, document or instrument to which such
Loan Party is a party or by which such Loan Party or any of its Property is bound, evidencing or relating to any Indebtedness (other than
the Obligations) with an outstanding principal balance in excess of $10,000,000, if (i) the default or event of default results from
the failure to pay such Indebtedness at maturity thereof or (ii) the payment or maturity of such Indebtedness is or could be accelerated
as a result of such default or event of default.

 

10.1.7.          Insolvency and Related
Proceedings. Any Loan Party (other than a Loan Party that is an Insignificant Subsidiary as of such date of determination) shall suffer
the appointment of a receiver, trustee, custodian or similar fiduciary, or shall make an assignment for the benefit of creditors, or any
petition for an order for relief shall be filed by or against any such Loan Party under U.S. federal bankruptcy laws or under any other
bankruptcy or insolvency act or law, state or federal, now or hereafter existing (and any such petition for relief filed against such
Loan Party shall not be dismissed within 60 days after the filing or commencement thereof), or any such Loan Party shall make (or shall
call or attend a meeting for the purpose of making) any offer of settlement, extension or composition to their respective unsecured creditors
generally or shall take any corporate action in furtherance thereof.

 

10.1.8.          Business Disruption;
Condemnation. (a) There shall occur a cessation of a substantial part of the business of any Loan Party, and such cessation would
reasonably be expected to have a Material Adverse Effect, (b) any Loan Party shall be enjoined, restrained or in any way prevented
by court, governmental or administrative order from conducting all or any substantial part of its business affairs, and such action would
reasonably be expected to have a Material Adverse Effect, (c) any substantial portion of the Collateral shall be taken through condemnation,
and such taking would reasonably be expected to have a Material Adverse Effect, or (d) the value of such Collateral shall be impaired
through condemnation, and such impairment would reasonably be expected to have a Material Adverse Effect.

 

10.1.9.          Change of Ownership.
(a) any person (other than Glencore) or group of persons (within the meaning of the Exchange Act) shall own or control, beneficially
or of record in excess of 50% of the issued and outstanding Securities and Voting Stock of Century or

 

(b) Century shall cease to own and control,
beneficially and of record (directly or indirectly), 100% of the issued and outstanding Securities and Voting Stock of each other Borrower
and each Guarantor.

 

10.1.10.          ERISA.
An ERISA Event shall occur which when taken together with all other ERISA Events that have occurred and are continuing, would reasonably
be expected to have a Material Adverse Effect.

 

10.1.11.          Challenge to Agreement.
Any Loan Party shall challenge or contest in any action, suit or proceeding the validity or enforceability of any of the Loan Documents,
the legality or enforceability of any of the Obligations or the perfection or priority of any Lien granted to Agent pursuant to the Loan
Documents; provided that no Default or Event of Default shall occur under this subsection 10.1.11 solely as a result of
any good faith dispute by a Loan Party as to the amount of any sum purported to be due under any Loan Document.

 

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10.1.12.          Repudiation of or
Default Under Guaranty Agreement. Any Guarantor shall revoke or attempt to revoke the Guaranty Agreement executed by such Guarantor,
or shall repudiate such Guarantor's liability thereunder or shall be in default under the terms thereof in any material respect.

 

10.1.13.          Judgments. Any
money judgment, writ of attachment or similar processes (collectively, "Judgments") are issued or rendered against any
Loan Party or any of the Collateral (i) in the case of money judgments, in an amount of $5,000,000 or more for all such judgments,
attachments or processes in the aggregate, in each case in excess of (A) any applicable insurance with respect to which the insurer
has admitted liability and (B) any reserves maintained for such purpose, and (ii) in the case of non-monetary Judgments, such
Judgment or Judgments (in the aggregate) would reasonably be expected to have a Material Adverse Effect, in each of the cases described
in clauses (i) and (ii) above, which Judgment is not paid, stayed, released, discharged or bonded pending appeal within 40 days.

 

10.2.          Acceleration of the Obligations.

 

Upon or at any time after
the occurrence and during the continuance of an Event of Default, (i) the Revolving Loan Commitments shall, at the option of Agent
or Majority Lenders, be terminated and/or (ii) Agent or Majority Lenders may declare all or any portion of the Obligations at once
due and payable without presentment, demand protest or further notice by Agent or any Lender, and Borrowers shall forthwith pay to Agent
the full amount of such Obligations; provided, that upon the occurrence of an Event of Default specified in subsection 10.1.7
hereof, the Revolving Loan Commitments shall automatically be terminated and all of the Obligations shall become automatically due
and payable, in each case without declaration, notice or demand by Agent or any Lender.

 

10.3.          Other Remedies.

 

Upon the occurrence and during
the continuance of an Event of Default, Agent shall have and may exercise,
and shall exercise at the election of Majority Lenders, from time to time the following other rights and remedies:

 

10.3.1.          All of the rights and
remedies of a secured party under the UCC or under other applicable law, and all other legal and equitable rights to which Agent or Lenders
may be entitled, all of which rights and remedies shall be cumulative and shall be in addition to any other rights or remedies contained
in this Agreement or any of the other Loan Documents, and none of which shall be exclusive.

 

10.3.2.          The right to take immediate
possession of the Collateral, and to (i) require each Borrower to assemble the Collateral, at Borrowers' expense, and make it available
to Agent at a place designated by Agent which is reasonably convenient to both parties, and (ii) enter any premises where any of
the Collateral shall be located and to keep and store the Collateral on said premises until sold (and if said premises be the Property
of any Borrower or any Subsidiary of any Borrower, Borrowers agree not to charge, or permit any of its Subsidiaries to charge, Agent for
storage thereof).

 

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10.3.3.          The
right to sell or otherwise dispose of all or any Collateral in its then condition, or after any further manufacturing or processing
thereof, at public or private sale or sales, with such notice as may be required by law, in lots or in bulk, for cash or on
credit, all as Agent, in its sole discretion, may deem advisable. Agent may, at Agent's option, disclaim any and all warranties
regarding the Collateral in connection with any such sale. Borrowers agree that 10 days' written notice to Borrowers or any of their
Subsidiaries of any public or private sale or other disposition of Collateral shall be reasonable notice thereof, and such sale
shall be at such locations as Agent may designate in said notice. Agent shall have the right to conduct such sales on any Borrower's
or any of its Subsidiaries' premises, without charge therefor, and such sales may be adjourned from time to time in accordance with
applicable law. Agent shall have the right to sell, lease or otherwise dispose of the Collateral, or any part thereof, for cash,
credit or any combination thereof, and Agent, on behalf of Secured Parties, may purchase all or any part of the Collateral at public
or, if permitted by law, private sale and, in lieu of actual payment of such purchase price, may set off the amount of such price
against the Obligations. The proceeds realized from the sale of any Collateral may be applied, after allowing two Business Days for
collection, first, to the costs, expenses and attorneys' fees incurred by Agent in collecting the Obligations, in enforcing
the rights of Agent and Lenders under the Loan Documents and in collecting, retaking, completing, protecting, removing, storing,
advertising for sale, selling and delivering any Collateral; second, to the interest due upon any of the Obligations; and third,
to the principal of the Obligations. If any deficiency shall arise, each Borrower shall remain jointly and severally liable to Agent
and Lenders therefor.

 

10.3.4.          Agent is hereby granted
a non-exclusive license to use, after the occurrence and during the continuance of an Event of Default, without charge, each Borrower's
labels, patents, copyrights, licenses, rights of use of any name, trade secrets, trade names, trademarks and advertising matter, or any
property of a similar nature, as it pertains to the Collateral, for and only to the extent necessary to complete (in respect of raw materials
and work-in-process inventory), advertise for sale and sell any Collateral as permitted under the Loan Documents.

 

10.3.5.          Agent may, at its option,
require Borrowers to deposit cash collateral or a Supporting Letter of Credit in accordance with subsection 1.2.10 hereof and,
if Borrowers fail to promptly make such deposit or post such Supporting Letter of Credit, Agent may advance such amount as a Revolving
Credit Loan (whether or not an Overadvance is created thereby). Each such Revolving Credit Loan shall be secured by all of the Collateral
and shall constitute a Base Rate Portion. Any such deposit or advance shall be held by Agent as a reserve to fund future payments on future
drawings against Letters of Credit. At such time as all Letters of Credit have been drawn upon or expired, any amounts remaining in such
reserve shall be applied against any outstanding Obligations, or, if all Obligations have been indefeasibly paid in full, returned to
Borrowers.

 

10.4.          Setoff and Sharing of Payments.

 

In addition to any
rights now or hereafter granted under applicable law and not by way of limitation of any such rights, after the occurrence and
during the continuance of any Event of Default, each Lender and each wholly-owned Subsidiary of any Lender is hereby authorized by
Borrowers at any time or from time to time, with prior written consent of Agent and with reasonably prompt subsequent notice to
Borrowers (any prior or contemporaneous notice to Borrowers being hereby expressly waived) to set off and to appropriate and to
apply any and all (i) balances held by such Lender or wholly-owned Subsidiary at any of its offices for the account of any
Borrower or any of its Subsidiaries (regardless of whether such balances are then due to a Borrower or its Subsidiaries), and
(ii) other Property at any time held or owing by such Lender or wholly-owned Subsidiary to or for the credit or for the account
of any Borrower or any of its Subsidiaries, against and on account of any of the Obligations. Any Lender exercising a right to set
off (or whose wholly-owned Subsidiary has exercised a right of set off) shall, to the extent the amount of any such set off exceeds
its Revolving Loan Percentage of the amount set off, purchase for cash (and the other Lenders shall sell) interests in each such
other Lender's pro rata share of the Obligations as would be necessary to cause such Lender to share such excess with each other
Lender in accordance with their respective Revolving Loan Percentages. Each Borrower agrees, to the fullest extent permitted by law,
that any Lender may exercise its right to set off with respect to amounts in excess of its pro rata share of the Obligations and
upon doing so shall deliver such excess to Agent for the benefit of all Lenders in accordance with the Revolving Loan
Percentages.

 

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10.5.          Remedies Cumulative; No Waiver.

 

All covenants, conditions,
provisions, warranties, guaranties, indemnities, and other undertakings of Borrowers contained in this Agreement and the other Loan Documents,
or in any document referred to herein or contained in any agreement supplementary hereto or in any schedule or in any Guaranty Agreement
given to Agent or any Lender or contained in any other agreement between any Lender and Borrowers or between Agent and Borrowers heretofore,
concurrently, or hereafter entered into, shall be deemed cumulative to and not in derogation or substitution of any of the terms, covenants,
conditions, or agreements of Borrowers herein contained. The failure or delay of Agent or any Lender to require strict performance by
Borrowers of any provision of this Agreement or to exercise or enforce any rights, Liens, powers, or remedies hereunder or under any of
the aforesaid agreements or other documents or security or Collateral shall not operate as a waiver of such performance, Liens, rights,
powers and remedies, but all such requirements, Liens, rights, powers, and remedies shall continue in full force and effect until all
Loans and other Obligations owing or to become owing from Borrowers to Agent and each Lender have been fully satisfied. None of the undertakings,
agreements, warranties, covenants and representations of Borrowers contained in this Agreement or any of the other Loan Documents and
no Default or Event of Default by Borrowers under this Agreement or any other Loan Documents shall be deemed to have been suspended or
waived by Lenders, unless such suspension or waiver is by an instrument in writing specifying such suspension or waiver and signed by
a duly authorized representative of Agent and directed to Borrowers.

 

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SECTION 11. AGENT

 

11.1.        Authorization and Action.

 

Each Lender hereby
appoints WFCF as "Agent" under this Agreement and the other Loan Documents and each Lender hereby irrevocably authorizes
Agent to take such action on its behalf under the provisions of this Agreement and each other Loan Document and to exercise such
powers under this Agreement and the other Loan Documents as are expressly delegated to Agent by the terms hereof and thereof,
together with such powers as are reasonably incidental thereto. Notwithstanding any provision to the contrary contained elsewhere in
this Agreement or in any other Loan Document, Agent shall not have any duties or responsibilities, except those expressly set forth
herein, nor shall Agent have or be deemed to have any fiduciary relationship with any Lender, and no implied covenants, functions,
responsibilities, duties, obligations or liabilities shall be read into this Agreement or any other Loan Document or otherwise exist
against Agent. Without limiting the generality of the foregoing sentence, the use of the term "agent" in this Agreement
with reference to Agent is not intended to connote any fiduciary or other implied (or express) obligations arising under agency
doctrine of any applicable law. Instead, such term is used merely as a matter of market custom, and is intended to create or reflect
only an administrative relationship between independent contracting parties. In performing its functions and duties under this
Agreement, Agent shall act solely on behalf of the Secured Parties and shall not assume, or be deemed to have assumed, any
obligation toward, or relationship of agency or trust with or for, any Borrower. The provisions of this Section 11 are
solely for the benefit of Agent and Lenders, and Borrowers shall have no rights as third party beneficiaries of any provisions of
this Section 11. As to any matters not expressly provided for by this Agreement and the other Loan Documents, Agent may,
but shall not be required to, exercise any discretion or take any action, but shall be required to act or to refrain from acting
(and shall be fully protected in so acting or refraining from acting) upon the instructions of the Majority Lenders, whenever such
instruction shall be requested by Agent or required hereunder, or a greater or lesser number of Lenders if so required hereunder,
and such instructions shall be binding upon all Lenders; provided that Agent shall be fully justified in failing or refusing
to take any action which exposes Agent to any liability or which is contrary to this Agreement, the other Loan Documents or
applicable law, unless Agent is indemnified to its satisfaction by the other Lenders against any and all liability and expense which
it may incur by reason of taking or continuing to take any such action. If Agent seeks the consent or approval of the Majority
Lenders (or a greater or lesser number of Lenders as required in this Agreement), with respect to any action hereunder, Agent shall
send notice thereof to each Lender and shall notify each Lender at any time that the Majority Lenders (or such greater or lesser
number of Lenders) have instructed Agent to act or refrain from acting pursuant hereto.

 

11.2.        Agent's Reliance, Etc.

 

Neither Agent, any Affiliate
of Agent, nor any of their respective directors, officers, agents or employees shall be liable for any action taken or omitted to be taken
by it or them under or in connection with this Agreement or the other Loan Documents, except for its or their own gross negligence or
willful misconduct. Without limitation of the generality of the foregoing, Agent: (i) may treat each Lender party hereto as the holder
of Obligations until Agent receives written notice of the assignment or transfer or such lender's portion of the Obligations signed by
such Lender and in form reasonably satisfactory to Agent; (ii) may consult with legal counsel, independent public accountants and
other experts selected by it and shall not be liable for any action taken or omitted to be taken in good faith by it in accordance with
the advice of such counsel, accountants or experts; (iii) makes no warranties or representations to any Lender and shall not be responsible
to any Lender for any recitals, statements, warranties or representations made in or in connection with this Agreement or any other Loan
Documents; (iv) shall not have any duty beyond Agent's customary practices in respect of loans in which Agent is the only lender,
to ascertain or to inquire as to the performance or observance of any of the terms, covenants or conditions of this Agreement or the other
Loan Documents on the part of Borrowers, to inspect the Property (including the books and records) of Borrowers, to monitor the financial
condition of Borrowers or to ascertain the existence or possible existence or continuance of any Default or Event of Default; (v) shall
not be responsible to any Lender for the due execution, legality, validity, enforceability, genuineness, sufficiency or value of this
Agreement or the other Loan Documents or any other instrument or document furnished pursuant hereto or thereto; (vi) shall not
be liable to any Lender for any action taken, or inaction, by Agent upon the instructions of Majority Lenders pursuant to Section 11.1
hereof or refraining to take any action pending such instructions; (vii) shall not be liable for any apportionment or distributions
of payments made by it in good faith pursuant to Section 3 hereof; (viii) shall incur no liability under or in respect
of this Agreement or the other Loan Documents by acting upon any notice, consent, certificate, message or other instrument or writing
(which may be by telephone, facsimile, telegram, cable or electronic mail) believed in good faith by it to be genuine and signed or sent
by the proper party or parties; and (ix) may assume that no Event of Default has occurred and is continuing, unless Agent has actual
knowledge of the Event of Default, has received notice from Borrowers or Borrowers' independent certified public accountants stating the
nature of the Event of Default, or has received notice from a Lender stating the nature of the Event of Default and that such Lender considers
the Event of Default to have occurred and to be continuing. If any apportionment or distribution described in clause (vii) above
is determined to have been made in error, the sole recourse of any Person to whom payment was due but not made shall be to recover from
the recipients of such payments any payment in excess of the amount to which they are determined to have been entitled.

 

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11.3.        WFCF and its Affiliates.

 

With respect to its commitment
hereunder to make Loans, WFCF shall have the same rights and powers under this Agreement and the other Loan Documents as any other Lender
and may exercise the same as though it were not Agent; and the terms "Lender," "Lenders" or "Majority
Lenders" shall, unless otherwise expressly indicated, include WFCF in its individual capacity as a Lender. WFCF and its Affiliates
may lend money to, and generally engage in any kind of business with, Borrowers, and any Person who may do business with or own Securities
of any Borrower, all as if WFCF were not Agent and without any duty to account therefor to any other Lender.

 

11.4.        Lender Credit Decision.

 

Each Lender acknowledges that
it has, independently and without reliance upon Agent or any other Lender and based on the financial statements referred to herein and
such other 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 Agent or any other Lender and based on such documents
and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under
this Agreement. Agent shall not have any duty or responsibility, either initially or on an ongoing basis, to provide any Lender with any
credit or other similar information regarding Borrowers.

 

11.5.        Indemnification.

 

Lenders agree to indemnify
Agent (to the extent not reimbursed by Borrowers), in accordance with their respective Revolving Loan Percentages, from and against any
and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements of any kind
or nature whatsoever which may be imposed on, incurred by, or asserted against Agent in any way relating to or arising out of this Agreement
or any other Loan Document or any action taken or omitted by Agent under this Agreement; provided that no Lender shall be liable
for any portion of such liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or
disbursements resulting from Agent's gross negligence or willful misconduct. Without limitation of the foregoing, each Lender agrees to
reimburse Agent promptly upon demand for its ratable share, as set forth above, of any out-of-pocket expenses (including attorneys' fees)
incurred by Agent in connection with the preparation, execution, delivery, administration, modification, amendment or enforcement (whether
through negotiation, legal proceedings or otherwise) of, or legal advice in respect of rights or responsibilities under, this Agreement
and each other Loan Document, to the extent that Agent is not reimbursed for such expenses by Borrowers. The obligations of Lenders under
this Section 11.5 shall survive the payment in full of all Obligations and the termination of this Agreement. If after payment
and distribution of any amount by Agent to Lenders, any Lender or any other Person, including Borrowers, any creditor of any Borrower,
a liquidator, administrator or trustee in bankruptcy, recovers from Agent any amount found to have been wrongfully paid to Agent or disbursed
by Agent to Lenders, then Lenders, in accordance with their respective Revolving Loan Percentages, shall reimburse Agent for all such
amounts.

 

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11.6.        Rights and Remedies to Be Exercised by Agent Only.

 

Each Lender agrees that, except
as set forth in Section 10.4, no Lender shall have any right individually (i) to realize upon the security created by
this Agreement or any other Loan Document, (ii) to enforce any provision of this Agreement or any other Loan Document, or (iii) to
make demand under this Agreement or any other Loan Document.

 

11.7.        Agency Provisions Relating to Collateral.

 

Each Lender authorizes and
ratifies Agent's entry into this Agreement and the Security Documents for the benefit of Lenders. Each Lender agrees that any action
taken by Agent with respect to the Collateral in accordance with the provisions of this Agreement or the Security Documents, and the
exercise by Agent of the powers set forth herein or therein, together with such other powers as are reasonably incidental thereto, shall
be authorized and binding upon all Lenders. Agent is hereby authorized on behalf of all Secured Parties, without the necessity of any
notice to or further consent from any Lender to take any action with respect to any Collateral or the Loan Documents which may be necessary
to perfect and maintain perfected Agent's Liens upon the Collateral, for the benefit of the other Secured Parties. Lenders hereby irrevocably
authorize Agent, at its option and in its discretion, to release any Lien granted to or held by Agent upon any Collateral (i) upon
termination of the Agreement and payment and satisfaction of all Obligations; or (ii) constituting Property in which no Borrower
owned any interest at the time the Lien was granted or at any time thereafter; or (iii) in connection with any foreclosure sale
or other disposition of Collateral after the occurrence and during the continuance of an Event of Default; or (iv) if approved,
authorized or ratified in writing by Agent at the direction of all Lenders. Upon request by Agent at any time, Lenders will confirm in
writing Agent's authority to release particular types or items of Collateral pursuant hereto. Agent shall have no obligation whatsoever
to any Lender or to any other Person to assure that the Collateral exists or is owned by any Borrower or is cared for, protected or insured
or has been encumbered or that the Liens granted to Agent herein or pursuant to the Security Documents have been properly or sufficiently
or lawfully created, perfected, protected or enforced or are entitled to any particular priority, or to exercise at all or in any particular
manner or under any duty of care, disclosure or fidelity, or to continue exercising, any of its rights, authorities and powers granted
or available to Agent in this Section 11.7 or in any of the Loan Documents, it being understood and agreed that in respect
of the Collateral, or any act, omission or event related thereto, Agent may act in any manner it may deem appropriate, in its sole discretion,
but consistent with the provisions of this Agreement, including given Agent's own interest in the Collateral as a Lender and that Agent
shall have no duty or liability whatsoever to any Lender.

 

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11.8.        Agent's Right to Purchase Commitments.

 

Agent shall have the right,
but shall not be obligated, at any time upon written notice to any Lender and with the consent of such Lender, which may be granted or
withheld in such Lender's sole discretion, to purchase for Agent's own account all of such Lender's interests in this Agreement, the other
Loan Documents and the Obligations, for the face amount of the outstanding Obligations owed to such Lender, including all accrued and
unpaid interest and fees.

 

11.9.        Resignation of Agent; Appointment of Successor.

 

Agent may resign as Agent
by giving not less than 30 days' prior written notice to Lenders and Borrowers (provided, that no notice shall be required if an Event
of Default exists). If Agent shall resign under this Agreement, then, (i) subject to the consent of Borrowers (which consent shall
not be unreasonably withheld and which consent shall not be required during any period in which a Default or an Event of Default exists),
Majority Lenders shall appoint from among the Lenders a successor agent for Lenders or (ii) if a successor agent shall not be so
appointed and approved within the 30 day period following Agent's notice to Lenders and Borrowers of its resignation, then Agent shall
appoint a successor agent (subject to the consent of Borrowers as set forth in clause (i) above) who shall serve as Agent until such
time as Majority Lenders appoint a successor agent. Upon its appointment, such successor agent shall succeed to the rights, powers and
duties of Agent and the term "Agent" shall mean such successor effective upon its appointment, and the former Agent's
rights, powers and duties as Agent shall be terminated without any other or further act or deed on the part of such former Agent or any
of the parties to this Agreement. After the resignation of any Agent hereunder, the provisions of this Section 11 shall inure
to the benefit of such former Agent and such former Agent shall not by reason of such resignation be deemed to be released from liability
for any actions taken or not taken by it while it was an Agent under this Agreement.

 

11.10.      Audit and Examination Reports; Disclaimer by Lenders.

 

By signing this Agreement, each Lender:

 

(a)            is deemed to have requested that Agent furnish such Lender, promptly after it becomes available, a copy of each audit or examination
report (each a "Report" and collectively, "Reports") prepared by or on behalf of Agent;

 

(b)           expressly
agrees and acknowledges that Agent (i) does not make any representation or warranty as to the accuracy of any Report, and (ii) shall
not be liable for any information contained in any Report;

 

(c)           expressly
agrees and acknowledges that the Reports are not comprehensive audits or examinations, that Agent or other party performing any audit
or examination will inspect only specific information regarding Borrowers and will rely significantly upon Borrowers' books and records,
as well as on representations of Borrowers' personnel;

 

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(d)           agrees
to keep all Reports confidential and strictly for its internal use, and not to distribute except to its participants, or use any Report
in any other manner, in accordance with the provisions of Section 12.16; and

 

(e)           without
limiting the generality of any other indemnification provision contained in this Agreement, agrees: (i) to hold Agent and any such
other Lender preparing a Report harmless from any action the indemnifying Lender may take or conclusion the indemnifying Lender may reach
or draw from any Report in connection with any loans or other credit accommodations that the indemnifying Lender has made or may make
to Borrowers, or the indemnifying Lender's participation in, or the indemnifying Lender's purchase of, a loan or loans of Borrowers; and
(ii) to pay and protect, and indemnify, defend and hold Agent and any such other Lender preparing a Report harmless from and against,
the claims, actions, proceedings, damages, costs, expenses and other amounts (including attorneys' fees and expenses) incurred by Agent
and any such other Lender preparing a Report as the direct or indirect result of any third parties who might obtain all or part of any
Report through the indemnifying Lender.

 

11.11.      USA Patriot Act.

 

Each Lender or assignee or
participant of a Lender that is not organized under the laws of the United States of America or a state thereof (and is not excepted from
the certification requirement contained in Section 313 of the USA Patriot Act and the applicable regulations because it is both (i) an
affiliate of a depository institution or foreign bank that maintains a physical presence in the United States or foreign country, and
(ii) subject to supervision by a banking authority regulating such affiliated depository institution or foreign bank) shall deliver
to Agent the certification, or, if applicable, recertification, certifying that such Lender is not a "shell" and certifying
to other matters as required by Section 313 of the USA Patriot Act and the applicable regulations: (1) within 10 days after
the Second Restatement Effective Date and (2) at such other times as are required under the USA Patriot Act.

 

11.12.      Bank Product Providers.

 

Each Bank Product
Provider shall be deemed a party hereto for purposes of any reference in a Loan Document to the parties for whom Agent is acting; it
being understood and agreed that the rights and benefits of such Bank Product Provider under the Loan Documents consist exclusively
of such Bank Product Provider's right to share in payments and collections out of the Collateral as more fully set forth herein; provided,
that (i) no Bank Product Provider shall be entitled to any such rights or benefits unless it notifies Agent in writing of a
Bank Product within five (5) days after such Bank Product is established and (ii) no Bank Product Provider of a Derivative
Obligation shall be entitled to any such rights or benefits unless it and Borrower Representative jointly notify Agent in writing
that the Product Obligations with respect to such Bank Product are to be secured pursuant to this Agreement and the other Loan
Documents. In connection with any such distribution of payments and collections, Agent shall be entitled to assume no amounts are
due to any Bank Product Provider unless such Bank Product Provider has notified Agent in writing of the amount of any such liability
owed to it prior to such distribution. In addition, Agent shall not be obligated to establish or increase a Bank Product Reserve for
any Bank Product unless after giving effect to such establishment or increase the sum of the Bank Product Reserves established for
all Bank Products does not exceed $10,000,000. It is understood and agreed that all obligations in respect of Bank Products
described in clause (i) of the definition thereof shall be secured by the Collateral and constitute Product Obligations.

 

    -62- 

     

    

 

SECTION 12. MISCELLANEOUS

 

12.1.        Right of Sale, Assignment, Participations.

 

Borrowers hereby consent to
any Lender's participation, sale, assignment, transfer or other disposition, at any time or times hereafter, of this Agreement and any
of the other Loan Documents, or of any portion hereof or thereof, including such Lender's rights, title, interests, remedies, powers and
duties hereunder or thereunder subject to the terms and conditions set forth below:

 

12.1.1.     Sales,
Assignments. Each Lender hereby agrees that, with respect to any sale or assignment (i) no such sale or assignment (A) shall
be for an amount of less than $5,000,000 (unless it is an assignment of all of a Lender's interest) or
(B) may be made to any Loan Party or any Affiliate of a Loan Party, (ii) each such sale or assignment shall be
made on terms and conditions which are customary in the industry at the time of the transaction, (iii) Agent, Issuing
Lender and, in the absence of a Default or Event of Default, Borrowers, must consent, such consent not to be unreasonably withheld,
to each such assignment to a Person that is not a Lender or an Affiliate of a Lender having substantially similar credit quality as
such Lender (it being understood that (A) it will not be unreasonable for Borrowers to withhold their consent to an assignment
to any Person if after giving effect to such assignment, WFCF and its Affiliates would have less than 50% of the Revolving Loan
Commitments and (B) in the absence of a Default or Event of Default, any assignment to a Lender or Affiliate of a Lender by
WFCF and its Affiliates that would result in WFCF and its Affiliates having less than 50% of the Revolving Loan Commitments shall
require the consent of Borrowers, such consent not to be unreasonably withheld), (iv) the assigning Lender shall pay to Agent a
processing and recordation fee of $3,500 and any out-of-pocket attorneys' fees and expenses incurred by Agent in connection with any
such sale or assignment and (v) Agent, the assigning Lender and the assignee Lender shall each have executed and delivered an
Assignment and Acceptance Agreement. After such sale or assignment has been consummated (x) the assignee Lender thereupon shall
become a "Lender" for all purposes of this Agreement and (y) the assigning Lender shall have no further liability for
funding the portion of Revolving Loan Commitments assumed by such other Lender. Agent (as a non-fiduciary agent on behalf of each
Borrower) shall maintain, or cause to be maintained, a register (the "Register") in the United States on which it
enters the name and address of each Lender as the registered owner of a Loan (and the principal amount thereof and stated interest
thereon) held by such Lender (each, a "Registered Loan"). Other than in connection with an assignment by a Lender
of all or any portion of a Loan to an Affiliate of such Lender, (i) a Registered Loan (and the registered note, if any,
evidencing the same) may be assigned or sold in whole or in part only by registration of such assignment or sale on the Register
(and each registered note shall expressly so provide) and (ii) any assignment or sale of all or part of such Registered Loan
(and the registered note, if any, evidencing the same) may be effected only by registration of such assignment or sale on the
Register, together with the surrender of the registered note, if any, evidencing the same duly endorsed by (or accompanied by a
written instrument of assignment or sale duly executed by) the holder of such registered note, whereupon, at the request of the
designated assignee(s) or transferee(s), one or more new registered notes in the same aggregate principal amount shall be
issued to the designated assignee(s) or transferee(s). Prior to the registration of assignment or sale of any Registered Loan
(and the registered note, if any evidencing the same), a Borrower shall treat the Person in whose name such Registered Loan (and the
registered note, if any, evidencing the same) is registered as the owner thereof for the purpose of receiving all payments thereon
and for all other purposes, notwithstanding notice to the contrary. In the case of any assignment by a Lender of all or any portion
of its Loan to an Affiliate of such Lender, and which assignment is not recorded in the Register, the assigning Lender, on behalf of
each Borrower as a non-fiduciary agent, shall maintain a register comparable to the Register. Agent (and any Lender maintaining a
comparable register for transfer to Affiliates) shall make a copy of the Register available for review by Borrower Representative
from time to time as Borrower Representative may reasonably request.

 

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12.1.2.     Participations.
Any Lender may grant participations in its extensions of credit hereunder to any other Lender or other lending institution (a "Participant");
provided that (i) no such participation shall be for an amount of less than $5,000,000, (ii) no Participant shall thereby
acquire any direct rights under this Agreement, (iii) no Participant shall be granted any right to consent to any amendment, except
to the extent any of the same pertain to (1) reducing the aggregate principal amount of, or interest rate on, or fees applicable
to, any Loan in which such Participant participates or (2) extending the final stated maturity of any Loan or the stated maturity
of any portion of any payment of principal of, or interest or fees applicable to, any of the Loans in which such Participant participates;
provided that the rights described in this subclause (2) shall not be deemed to include the right to consent to any amendment
with respect to or which has the effect of requiring any mandatory prepayment of any portion of any Loan or any amendment or waiver of
any Default or Event of Default, (iv) no sale of a participation in extensions of credit shall in any manner relieve the originating
Lender of its obligations hereunder, (v) the originating Lender shall remain solely responsible for the performance of such obligations,
(vi) Borrowers and Agent shall continue to deal solely and directly with the originating Lender in connection with the originating
Lender's rights and obligations under this Agreement and the other Loan Documents, (vii) in no event shall any financial institution
purchasing the participation grant a participation in its participation interest in the Loans without the prior written consent of Agent,
and, in the absence of a Default or an Event of Default, Borrowers, which consents shall not unreasonably be withheld and (viii) all
amounts payable by Borrowers hereunder shall be determined as if the originating Lender had not sold any such participation. In the event
that a Lender sells participations in the Registered Loan, such Lender, as a non-fiduciary agent on behalf of Borrowers, shall maintain
(or cause to be maintained) in the United States a register on which it enters the name of all participants in the Registered Loans held
by it (and the principal amount (and stated interest thereon) of the portion of such Registered Loans that is subject to such participations)
(the "Participant Register"). A Registered Loan (and the Registered Note, if any, evidencing the same) may be participated
in whole or in part only by registration of such participation on the Participant Register (and each registered note shall expressly so
provide). Any participation of such Registered Loan (and the registered note, if any, evidencing the same) may be effected only by the
registration of such participation on the Participant Register. Each Lender shall make a copy of its Participant Register, to the extent
one is required hereunder, available for review by Borrower Representative from time to time as Borrower Representative may reasonably
request.

 

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12.1.3.     Foreign
Lenders and Transferees.

 

(a)           Each Foreign Lender
or other Lender that is a foreign person for the purposes of the Code shall (i) furnish to Borrower Representative and Agent a duly
executed and valid United States Internal Revenue Service Form W-8BEN, United States Internal Revenue Service Form W-8ECI (wherein
such Lender claims entitlement to complete exemption from United States federal withholding tax on all interest payments hereunder), or
Form W-8IMY (with appropriate attachments), as applicable, and (ii) provide to Borrower Representative and Agent a new Form W-8BEN,
Form W-8ECI or Form W-8IMY (with appropriate attachments) upon the obsolescence of any previously delivered form and comparable
statements in accordance with applicable United States laws and regulations and amendments duly executed and completed by such Lender,
and comply from time to time with all applicable United States laws and regulations with regard to such withholding tax exemption. In
addition, if such Lender is claiming an exemption from United States withholding tax pursuant to the portfolio interest exception of Code
Section 871(h) or Code Section 881(c), such Lender in addition to providing the Form W-8BEN or Form W-8IMY (with
appropriate attachments) shall deliver to each of Borrower Representative and Agent a statement of the Lender signed under penalty of
perjury, that it is not a (I) a "bank" as described in Section 881(c)(3)(A) of the IRC, (II) a 10% shareholder
of Borrower (within the meaning of Section 871(h)(3)(B) of the IRC), or (III) a controlled foreign corporation related
to Borrower within the meaning of Section 864(d)(4) of the IRC. Any Lender that is not a Foreign Lender and is not an exempt
recipient within the meaning of Treasury Regulation Section 1.6049-4(c) shall provide to Borrower's Representative and Agent
a duly executed United States Internal Revenue Service Form W-9 certifying as to its U.S. tax identification number to qualify for
an exemption from United States backup withholding taxes, and shall provide an updated executed Form W-9 to Borrower Representative
and Agent upon any information contained on a previous form becoming obsolete.

 

(b)           If,
pursuant to this Section 12.1, any interest in this Agreement or any Loans is transferred to any transferee which is
organized under the laws of any jurisdiction other than the United States or any state thereof or is otherwise a foreign person for
the purposes of the Code, the transferor Lender shall cause such transferee (other than any Participant), and shall cause any
Participant, concurrently with and as a condition precedent to the effectiveness of such transfer, to (i) represent to the
transferor Lender (for the benefit of the transferor Lender, Agent, and Borrowers) that under applicable law and treaties no taxes
will be required to be withheld by Agent, any Borrowers or the transferor Lender with respect to any payments to be made to such
transferee in respect of the interest so transferred, (ii) furnish to the transferor Lender, Agent and Borrower Representative
either United States Internal Revenue Service Form W-8BEN, Form W-8ECI (wherein such transferee claims entitlement to
complete exemption from United States federal withholding tax on all interest payments hereunder) or Form W-8IMY (with
appropriate attachments), as applicable, and if applicable, the Portfolio Interest Certificate, and (iii) agree (for the
benefit of the transferor Lender, Agent and Borrowers) to provide the transferor Lender, Agent and Borrower Representative a new
Form W-8BEN, Form W-8ECI or Form W-8IMY (with appropriate attachments), as applicable, upon the obsolescence of any
previously delivered form and comparable statements in accordance with applicable United States laws and regulations and amendments
duly executed and completed by such transferee, and to comply from time to time with all applicable United States laws and
regulations with regard to such withholding tax exemption. With respect to any transferee or Participant that is not a foreign
person for the purposes of the Code and is not an exempt recipient within the meaning of Treasury Regulation
Section 1.6049-4(c) as a condition of the effectiveness of such transfer under this Section 12.1, such Person
shall provide to the transferor Lender and each of the Borrower Representative and Agent, a duly executed United States Internal
Revenue Service Form W-9, and shall provide an updated executed Form W-9 to the transferor Lender, Borrower Representative
and Agent upon any information contained on a previous form becoming obsolete.

 

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(c)           If a Lender or Participant
claims exemption from, or reduction of, withholding tax and such Lender or Participant sells, assigns, grants a participation in, or otherwise
transfers all or part of the Obligations of any Borrower, such Lender or Participant agrees to notify Agent (or, in the case of a sale
of a participation interest, to the Lender granting the participation only) of the percentage amount in which it is no longer the beneficial
owner of Obligations of such Borrower to such Lender or Participant. To the extent of such percentage amount, Agent will treat such Lender's
or such Participant's documentation provided pursuant to this Section 12.1.3 as no longer valid. With respect to such percentage
amount, such Participant or Assignee shall provide new documentation, pursuant to Section 12.1.3, if applicable. Borrower
agrees that each Participant shall be entitled to the benefits of Section 2.9 with respect to its participation in any portion
of the Obligations so long as such Participant complies with the obligations set forth in this subsection 12.1.3 with respect thereto.

 

(d)           If a payment made to a Lender or Participant under any Loan
Document would be subject to U.S. federal withholding Tax imposed by FATCA if such Lender or Participant 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 or Participant shall deliver to the Borrowers and the Agent at the time or times prescribed by law and
at such time or times reasonably requested by the Borrowers or the 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
Borrowers or the Agent as may be necessary for the Borrowers and the Agent to comply with their obligations under FATCA and to
determine that such Lender or Participant has complied with such Lender’s or Participant’s obligations under FATCA or to
determine the amount to deduct and withhold from such payment. Solely for purposes of this clause (d), "FATCA" shall
include any amendments made to FATCA after the date of this Agreement.

 

(e)           If
the Internal Revenue Service or any other Governmental Authority of the United States or other jurisdiction asserts a claim that
Agent (or, in the case of a Participant, to the Lender granting the participation) did not properly withhold tax from amounts paid
to or for the account of any Lender or any Participant due to a failure on the part of the Lender or any Participant (because the
appropriate form was not delivered, was not properly executed, or because such Lender failed to notify Agent (or such Participant
failed to notify the Lender granting the participation) of a change in circumstances which rendered the exemption from, or reduction
of, withholding tax ineffective, or for any other reason) such Lender shall indemnify and hold Agent harmless (or, in the case of a
Participant, such Participant shall indemnify and hold the Lender granting the participation harmless) for all amounts paid,
directly or indirectly, by Agent (or, in the case of a Participant, to the Lender granting the participation), as tax or otherwise,
including penalties and interest, and including any taxes imposed by any jurisdiction on the amounts payable to Agent (or, in the
case of a Participant, to the Lender granting the participation only) under this Section, together with all costs and expenses
(including attorney's fees and expenses). The obligation of the Lenders and the Participants under this subsection shall survive the
payment of all Obligations and the resignation or replacement of Agent.

 

    	 	-66-	 

     

    

 

12.1.4.     Assignment to Federal
Reserve Bank. In addition to the other assignment rights provided in this Section 12.1, each Lender may assign, as collateral
or otherwise, and without notice to or consent of the Agent or any Borrower, any of its rights under this Agreement, whether now owned
or hereafter acquired (including rights to payments of principal or interest on the Loans), to any Federal Reserve Bank pursuant to Regulation
A of the Federal Reserve Board.

 

12.2.        Amendments, Etc.

 

12.2.1.     Amendments,
Etc. No amendment or waiver of any provision of this Agreement or any other Loan Document, nor consent to any departure by Borrowers
therefrom, shall in any event be effective unless the same shall be in writing and signed by the Majority Lenders and Borrowers, and
then such waiver or consent shall be effective only in the specific instance and for the specific purpose for which given; provided
that no amendment, waiver or consent shall be effective, unless (i) in writing and signed by each Lender, to do any of the following:
(1) increase the Revolving Credit Maximum Amount (except in accordance with Section 1.3) or any Lender's Revolving Loan
Commitment, (2) reduce the principal of, or interest on, any amount payable hereunder, other than those payable only to Agent or
Issuing Lender in its capacity as such, which may be reduced by Agent unilaterally, (3) decrease any interest rate payable hereunder,
(4) postpone any date fixed for any payment of principal of, or interest on, any amounts payable hereunder, other than those payable
only to Agent in its capacity as such, which may be postponed by Agent unilaterally, (5) increase any advance percentage contained
in the definition of the term "Borrowing Base" or
amend any component of the "Borrowing Base" or any of the defined terms that are used in such definition to the extent that
any such change results in more credit being made available to Borrowers based upon the Borrowing Base, (6) reduce the
number of Lenders that shall be required for Lenders or any of them to take any action hereunder, (7) release or discharge any Person
liable for the performance of any obligations of any Borrower hereunder or under any of the Loan Documents, (8) amend any provision
of this Agreement that requires the consent of all Lenders or consent to or waive any breach thereof, (9) amend the definition of
the term "Majority Lenders", (10) amend this Section 12.2 or,
(11) release or
subordinate any substantial portion of the Collateral, unless otherwise permitted pursuant to Section 11.7 hereof,
or (12) amend Section 3.4.2; or (ii) in writing and signed by Issuing Lender in addition to the Lenders required
above to affect the rights or duties of Issuing Lender under this Agreement or any other Loan Document or (iii) in writing and signed
by Agent in addition to the Lenders required above to affect the rights or duties of Agent under this Agreement or any other Loan Document.
If a fee is to be paid by Borrowers in connection with any waiver or amendment hereunder, the agreement evidencing such amendment or
waiver may, at the discretion of Agent (but shall not be required to), provide that only Lenders executing such agreement by a specified
date may share in such fee (and in such case, such fee shall be divided among the applicable Lenders on a pro rata basis without including
the interests of any Lenders who have not timely executed such agreement).

 

    -67- 

     

    

 

 

12.2.2.     Replacement of Lenders.
If any Lender does not consent to any amendment, modification, termination or waiver requested by Borrowers and supported by Agent, then
Borrowers may, at their sole expense and effort, upon notice to such Lender and Agent, require such Lender to assign and delegate, without
recourse (in accordance with and subject to the restrictions contained in this Agreement), all its interests, rights and obligations under
this Agreement to an assignee that shall assume such obligations (which assignee may be another Lender that supports such amendment, modification
or waiver, if such assignee Lender accepts such assignment); provided, that: (i) the replacement Lender shall be (a) an
existing Lender or (b) another financial institution reasonably acceptable to Agent; (ii) such Lender shall have received payment
of an amount equal to the outstanding principal of its Loans, accrued interest thereon, accrued fees and all other amounts payable to
it hereunder, from the assignee (to the extent of such outstanding principal and accrued interest and fees) or Borrowers (in the case
of all other amounts); (iii) the assignee shall execute an Assignment and Acceptance Agreement pursuant to which it shall become
a party hereto as provided in subsection 12.1.1, and (iv) upon compliance with the provisions for assignment provided in subsection
12.1.1 and the payment of amounts referred to in clause (ii), such assignee shall constitute a "Lender" hereunder and the
Lender being so replaced shall no longer constitute a "Lender" hereunder.

 

12.3.        Power of Attorney.

 

Each Borrower hereby irrevocably
designates, makes, constitutes and appoints Agent (and all Persons designated by Agent) as such Borrower's true and lawful attorney (and
agent-in-fact), solely with respect to the matters set forth in this Section 12.3, and Agent, or Agent's agent, may, without
notice to any Borrower and in any Borrower's or Agent's name, but at the cost and expense of Borrowers:

 

12.3.1.     At such time or times
upon or after the occurrence and during the continuance of an Event of Default, endorse any Borrower's name on any checks, notes, acceptances,
drafts, money orders or any other evidence of payment or proceeds of the Collateral which come into the possession of Agent or under Agent's
control.

 

12.3.2.
     At such time or times upon or after the occurrence and during the continuance of an Event of Default, as
Agent or its agent in its sole discretion may determine: (i) demand payment of the Accounts from the Account Debtors, enforce
payment of the Accounts by legal proceedings or otherwise, and generally exercise all of any Borrower's rights and remedies with
respect to the collection of the Accounts; (ii) settle, adjust, compromise, discharge or release any of the Accounts or other
Collateral or any legal proceedings brought to collect any of the Accounts or other Collateral; (iii) sell or assign any of the
Accounts and other Collateral upon such terms, for such amounts and at such time or times as Agent deems advisable, and at Agent's
option, with all warranties regarding the Collateral disclaimed; (iv) take control, in any manner, of any item of payment or
proceeds relating to any Collateral; (v) prepare, file and sign any Borrower's name to a proof of claim in bankruptcy or
similar document against any Account Debtor or to any notice of lien, assignment or satisfaction of lien or similar document in
connection with any of the Collateral; (vi) receive, open and dispose of all mail addressed to any Borrower and notify postal
authorities to change the address for delivery thereof to such address as Agent may designate; (vii) endorse the name of any
Borrower upon any of the items of payment or proceeds relating to any Collateral and deposit the same to the account of Agent on
account of the Obligations; (viii) endorse the name of any Borrower upon any chattel paper, document, instrument, invoice,
freight bill, bill of lading or similar document or agreement relating to the Accounts, Inventory and any other Collateral;
(ix) use any Borrower's stationery and sign the name of any Borrower to verifications of the Accounts and notices thereof to
Account Debtors; (x) use the information recorded on or contained in any data processing equipment and Computer Hardware and
Software relating to the Accounts, Inventory, Equipment and any other Collateral; (xi) make and adjust claims under
policies of insurance; and (xii) do all other acts and things necessary, in Agent's determination, to fulfill any Borrower's
obligations under this Agreement.

 

    	 	-68-	 

     

    

 

The power of attorney granted
hereby shall constitute a power coupled with an interest and shall be irrevocable.

 

12.4.        Indemnity.

 

Each Borrower hereby
agrees to indemnify (a) Agent, (b) Letter of Credit Issuer, (c) each Lender, (d) each of the Affiliates of each
of the Persons listed in the foregoing clauses (a) through (c), and (e) each of the directors, members, managers, general
partners, limited partners, officers, and employees of each of the Persons listed in the foregoing clauses (a) through
(d) (collectively, the "Indemnified Persons") and hold each of the Indemnified Persons harmless from and
against any liability, loss, damage, suit, action or proceeding ever suffered or incurred by such Indemnified Person (including
reasonable attorneys' fees and legal expenses) as the result of any Borrower's failure to observe, perform or discharge such
Borrower's duties hereunder. In addition, each Borrower shall defend each Indemnified Person against and save it harmless from all
claims of any Person with respect to the Collateral (except those resulting from the gross negligence or intentional misconduct of
such Indemnified Person). Without limiting the generality of the foregoing, these indemnities shall extend to any claims asserted
against any Indemnified Person by any Person under any Environmental Laws by reason of any Borrower's or any other Person's failure
to comply with laws applicable to solid or hazardous waste materials or other toxic substances. Notwithstanding the foregoing,
(i) the foregoing indemnity shall not be available to any Indemnified Person to the extent that such losses, claims, damages,
liabilities or related expenses are determined by a court of competent jurisdiction by final and nonappealable judgment to have
resulted from such Indemnified Person's gross negligence or willful misconduct; (ii) such indemnity shall not be available to
any Indemnified Person for losses, claims, damages, liabilities or related expenses arising out of a proceeding in which such
Indemnified Person and a Borrower are adverse parties to the extent that such Borrower prevails on the merits, as determined by a
court of competent jurisdiction by final and nonappealable judgment (it being understood that nothing in this Agreement shall
preclude a claim or suit by a Borrower against any indemnitee for such Indemnified Person's failure to perform any of its
obligations to Borrowers under the Loan Documents); (iii) Borrowers shall not, in connection with any such proceeding or
related proceedings in the same jurisdiction and in the absence of conflicts of interest, be liable for the fees and expenses of
more than one law firm at any one time for the Indemnified Person (which law firm shall be selected (x) by mutual agreement of
Agent and Borrower Representative or (y) if no such agreement has been reached following Agent's good faith consultation with
Borrower Representative with respect thereto, by Agent in its sole discretion); (iv) each Indemnified Person shall give
Borrower Representative (A) prompt notice of any such action brought against such Indemnified Person in connection with a claim
for which it is entitled to indemnity under this Section 12.4 and (B) an opportunity to consult from time to time
with such Indemnified Person regarding defensive measures and potential settlement; and (v) Borrowers shall not be obligated to
pay the amount of any settlement entered in to without their written consent (which consent shall not be unreasonably withheld or
delayed). Notwithstanding any contrary provision in this Agreement, the obligation of Borrowers under this Section 12.4
shall survive the payment in full of the Obligations and the termination of this Agreement.

 

    	 	-69-	 

     

    

 

12.5.        Sale of Interest.

 

No Borrower may sell, assign
or transfer any interest in this Agreement, any of the other Loan Documents, or any of the Obligations, or any portion thereof, including
such Borrower's rights, title, interests, remedies, powers and duties hereunder or thereunder.

 

12.6.        Severability.

 

Wherever possible, each provision
of this Agreement shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this
Agreement shall be prohibited by or invalid under applicable law, such provision shall be ineffective only to the extent of such prohibition
or invalidity, without invalidating the remainder of such provision or the remaining provisions of this Agreement.

 

12.7.        Successors and Assigns.

 

This Agreement and each of
the other Loan Documents shall be binding upon and inure to the benefit of the successors and assigns of each Borrower, Agent and each
Lender permitted under Section 12.1 hereof.

 

12.8.        Cumulative Effect; Conflict of Terms.

 

The provisions of the other
Loan Documents are hereby made cumulative with the provisions of this Agreement. Except as otherwise provided in any of the other Loan
Documents by specific reference to the applicable provision of this Agreement, if any provision contained in this Agreement is in direct
conflict with, or inconsistent with, any provision in any of the other Loan Documents, the provision contained in this Agreement shall
govern and control.

 

12.9.        Execution in Counterparts.

 

This Agreement may be executed
in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed and delivered shall
be deemed to be an original and all of which counterparts taken together shall constitute but one and the same instrument.

 

    	 	-70-	 

     

    

 

12.10.      Notice.

 

Except as otherwise
provided herein, all notices, requests and demands to or upon a party hereto, to be effective, shall be in writing, and shall be
sent by certified or registered mail, return receipt requested, by personal delivery against receipt, by overnight courier or by
facsimile and, unless otherwise expressly provided herein, shall be deemed to have been validly served, given, delivered or received
immediately when delivered against receipt, three Business Days' after deposit in the mail, postage prepaid, one Business Day after
deposit with an overnight courier or, in the case of facsimile notice, when sent with respect to machine confirmed, addressed as
follows:

 

		(A)	If to Agent:	 Wells Fargo Capital Finance, LLC

10 South
Wacker Drive, 22nd Floor

Chicago, Illinois 60606

2450 Colorado Avenue,
Suite 3000 West

Santa Monica, California 90404

Attention: Business
Finance Portfolio Manager – Century

Aluminum

Facsimile No.: 310-453-7413

 

			With a copy to:	Goldberg Kohn Ltd.

55 East Monroe Street, Suite 3300

Chicago, Illinois 60603

Attention: Jeffrey Dunlop

Facsimile No.: 312-863-7828

 

		(B)	If to Borrowers:	Century Aluminum Company

1 S. Wacker Drive

Suite 1000

Chicago, Illinois 60606

Attention: General Counsel

Facsimile No.: 312-696-3102

email: Jesse.Gary@centuryaluminum.com

 

			With a copy to:	Vedder Price

222 North LaSalle Street

Chicago, Illinois 60601

Attention: John T. Blatchford

Facsimile No.: 312-609-5005

 

		(C)	If to any Lender, at its address indicated on the signature pages hereof or in an Assignment and
Acceptance Agreement,

 

or to such other address as each party may designate
for itself by notice given in accordance with this Section 12.10; provided, however, that any notice, request
or demand to or upon Agent or a Lender pursuant to subsection 3.1.1 or 4.2.2 hereof shall not be effective until received
by Agent or such Lender.

 

12.11.      Consent.

 

Whenever Agent's,
Majority Lenders' or all Lenders' consent is required to be obtained under this Agreement or any of the other Loan Documents as a
condition to any action, inaction, condition or event, except as otherwise specifically provided herein, Agent, Majority Lenders or
all Lenders, as applicable, shall be authorized to give or withhold such consent in its or their sole and absolute discretion and to
condition its or their consent upon the giving of additional Collateral security for the Obligations, the payment of money or any
other matter.

 

    	 	-71-	 

     

    

 

12.12.      Credit Inquiries.

 

Subject to the confidentiality
provisions contained in Section 12.16, Borrowers hereby authorize and permit Agent and each Lender to respond to usual and
customary credit inquiries from third parties concerning any Borrower or any of its Subsidiaries.

 

12.13.      Time of Essence.

 

Time is of the essence of this Agreement and the other Loan
Documents.

 

12.14.      Entire Agreement.

 

This Agreement and the other
Loan Documents, together with all other instruments, agreements and certificates executed by the parties in connection therewith or with
reference thereto, embody the entire understanding and agreement between the parties hereto and thereto with respect to the subject matter
hereof and thereof and supersede all prior agreements, understandings and inducements, whether express or implied, oral or written.

 

12.15.      Interpretation.

 

No provision of this Agreement
or any of the other Loan Documents shall be construed against or interpreted to the disadvantage of any party hereto by any court or other
governmental or judicial authority by reason of such party having or being deemed to have structured or dictated such provision.

 

12.16.      Confidentiality.

 

Agent and each Lender shall
hold all nonpublic information obtained pursuant to the requirements of this Agreement in accordance with Agent's and such Lender's customary
procedures for handling confidential information of this nature and in accordance with safe and sound banking practices and in any event
may make disclosure (i) reasonably required by a prospective participant or assignee in connection with the contemplated participation
or assignment, and shall require any such participant or assignee to agree to comply with this Section 12.16, (ii) as
required or requested by any governmental authority or representative thereof or pursuant to legal process, (iii) to attorneys for
and other advisors, accountants, auditors, and consultants to Agent or any Lender and to employees, directors and officers of Agent or
any Lender on a "need to know" basis in connection with this Agreement and the transactions contemplated hereby and on a confidential
basis, and (iv) to any credit insurance providers on a "need to know" basis in connection with this Agreement and the transactions
contemplated hereby and on a confidential basis.

 

    	 	-72-	 

     

    

 

12.17.      GOVERNING LAW; CONSENT TO JURISDICTION.

 

THIS AGREEMENT HAS BEEN NEGOTIATED,
EXECUTED AND DELIVERED IN AND SHALL BE DEEMED TO HAVE BEEN MADE IN NEW YORK, NEW YORK. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED
IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK; PROVIDED, HOWEVER, THAT IF ANY OF THE COLLATERAL SHALL BE LOCATED
IN ANY JURISDICTION OTHER THAN NEW YORK, THE LAWS OF SUCH JURISDICTION SHALL GOVERN THE METHOD, MANNER AND PROCEDURE FOR FORECLOSURE
OF AGENT'S LIEN UPON SUCH COLLATERAL AND THE ENFORCEMENT OF AGENT'S OTHER REMEDIES IN RESPECT OF SUCH COLLATERAL TO THE EXTENT THAT THE
LAWS OF SUCH JURISDICTION ARE DIFFERENT FROM OR INCONSISTENT WITH THE LAWS OF NEW YORK. AS PART OF THE CONSIDERATION FOR NEW VALUE
RECEIVED, AND REGARDLESS OF ANY PRESENT OR FUTURE DOMICILE OR PRINCIPAL PLACE OF BUSINESS OF ANY BORROWER, AGENT OR ANY LENDER, EACH
BORROWER HEREBY CONSENTS AND AGREES THAT THE COURTS OF THE STATE OF NEW YORK LOCATED IN THE CITY OF NEW YORK, OR, AT AGENT'S OPTION,
THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK, SHALL HAVE EXCLUSIVE JURISDICTION TO HEAR AND DETERMINE ANY CLAIMS
OR DISPUTES BETWEEN BORROWERS ON THE ONE HAND AND AGENT OR ANY LENDER ON THE OTHER HAND PERTAINING TO THIS AGREEMENT OR TO ANY MATTER
ARISING OUT OF OR RELATED TO THIS AGREEMENT. EACH BORROWER EXPRESSLY SUBMITS AND CONSENTS IN ADVANCE TO SUCH JURISDICTION IN ANY ACTION
OR SUIT COMMENCED IN ANY SUCH COURT, AND EACH BORROWER HEREBY WAIVES ANY OBJECTION WHICH ANY BORROWER MAY HAVE BASED UPON LACK OF
PERSONAL JURISDICTION, IMPROPER VENUE OR FORUM NON CONVENIENS. EACH BORROWER HEREBY WAIVES PERSONAL
SERVICE OF THE SUMMONS, COMPLAINT AND OTHER PROCESS ISSUED IN ANY SUCH ACTION OR SUIT AND AGREES THAT SERVICE OF SUCH SUMMONS, COMPLAINT
AND OTHER PROCESS MAY BE MADE BY REGISTERED OR CERTIFIED MAIL ADDRESSED TO BORROWERS AT THE ADDRESS SET FORTH IN THIS AGREEMENT
AND THAT SERVICE SO MADE SHALL BE DEEMED COMPLETED UPON THE EARLIER OF BORROWERS' ACTUAL RECEIPT THEREOF OR 3 DAYS AFTER DEPOSIT IN THE
U.S. MAILS, PROPER POSTAGE PREPAID. NOTHING IN THIS AGREEMENT SHALL BE DEEMED OR OPERATE TO AFFECT THE RIGHT OF AGENT OR ANY LENDER TO
SERVE LEGAL PROCESS IN ANY OTHER MANNER PERMITTED BY LAW, OR TO PRECLUDE THE ENFORCEMENT BY AGENT OR ANY LENDER OF ANY JUDGMENT OR ORDER
OBTAINED IN SUCH FORUM OR THE TAKING OF ANY ACTION UNDER THIS AGREEMENT TO ENFORCE SAME IN ANY OTHER APPROPRIATE FORUM OR JURISDICTION.

 

12.18.      WAIVERS BY BORROWERS.

 

EACH BORROWER WAIVES
(I) THE RIGHT TO TRIAL BY JURY (WHICH AGENT AND EACH LENDER HEREBY ALSO WAIVES) IN ANY ACTION, SUIT, PROCEEDING OR COUNTERCLAIM
OF ANY KIND ARISING OUT OF OR RELATED TO THIS AGREEMENT OR ANY OF THE OTHER LOAN DOCUMENTS, THE OBLIGATIONS OR THE COLLATERAL, AND
(II) EXCEPT AS PROHIBITED BY LAW, ANY RIGHT TO CLAIM OR RECOVER ANY SPECIAL, EXEMPLARY, PUNITIVE OR CONSEQUENTIAL DAMAGES OR
ANY DAMAGES OTHER THAN, OR IN ADDITION TO, ACTUAL DAMAGES. EACH BORROWER ACKNOWLEDGES THAT THE FOREGOING WAIVERS ARE A MATERIAL
INDUCEMENT TO AGENT'S AND EACH LENDER'S ENTERING INTO THIS AGREEMENT AND THAT AGENT AND EACH LENDER IS RELYING UPON THE FOREGOING
WAIVERS IN ITS FUTURE DEALINGS WITH BORROWERS. EACH BORROWER WARRANTS AND REPRESENTS THAT IT HAS REVIEWED THE FOREGOING WAIVERS WITH
ITS LEGAL COUNSEL AND HAS KNOWINGLY AND VOLUNTARILY WAIVED ITS JURY TRIAL RIGHTS FOLLOWING CONSULTATION WITH LEGAL COUNSEL. IN THE
EVENT OF LITIGATION, THIS AGREEMENT MAY BE FILED AS A WRITTEN CONSENT TO A TRIAL BY THE COURT.

 

    	 	-73-	 

     

    

 

12.19.      Advertisement.

 

Borrowers hereby authorize
Agent to publish the names of Borrowers and the amount of the credit facility provided hereunder in any "tombstone" or comparable
advertisement which Agent elects to publish.

 

12.20.      Reimbursement.

 

The undertaking by Borrowers
to repay the Obligations and each representation, warranty or covenant of each Borrower are and shall be joint and several. To the extent
that any Borrower shall be required to pay a portion of the Obligations which shall exceed the amount of loans, advances or other extensions
of credit received by such Borrower and all interest, costs, fees and expenses attributable to such loans, advances or other extensions
of credit, then such Borrower shall be reimbursed by the other Borrowers for the amount of such excess. This Section 12.20
is intended only to define the relative rights of Borrowers, and nothing set forth in this Section 12.20 is intended or shall
impair the obligations of each Borrower, jointly and severally, to pay to Agent and Lenders the Obligations as and when the same shall
become due and payable in accordance with the terms hereof. Notwithstanding anything to the contrary set forth in this Section 12.20
or any other provisions of this Agreement, it is the intent of the parties hereto that the liability incurred by each Borrower in
respect of the Obligations of the other Borrowers (and any Lien granted by each Borrower to secure such Obligations) not constitute a
fraudulent conveyance or fraudulent transfer under the provisions of any applicable law of any state or other governmental unit ("Fraudulent
Conveyance"). Consequently, each Borrower, Agent and each Lender hereby agree that if a court of competent jurisdiction determines
that the incurrence of liability by any Borrower in respect of the Obligations of any other Borrower (or any Liens granted by such Borrower
to secure such Obligations) would, but for the application of this sentence, constitute a Fraudulent Conveyance, such liability (and
such Liens) shall be valid and enforceable only to the maximum extent that would not cause the same to constitute a Fraudulent Conveyance,
and this Agreement and the other Loan Documents shall automatically be deemed to have been amended accordingly, nunc pro tunc.

 

12.21.      Section Headings.

 

Article and Section headings
and the table of contents used herein are for convenience of reference only, are not part of this Agreement, and shall not affect the
construction or interpretation hereof.

 

12.22.      Acknowledgment and Consent to Bail-In of EEAAffected
Financial Institution.

 

Notwithstanding anything
to the contrary in any Loan Document or in any other agreement, arrangement or understanding among any such parties, each party
hereto acknowledges that any liability of any EEAAffected 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 EEAthe
applicable Resolution Authority and agrees and consents to, and acknowledges and agrees to be bound by:

 

    	 	-74-	 

     

    

 

(a)            the
application of any Write-Down and Conversion Powers by an EEAthe
applicable Resolution Authority to any such liabilities arising hereunder which may be payable to it by any party hereto that
is an EEAAffected
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 EEAAffected 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
EEAthe applicable Resolution Authority.

 

12.23.      Acknowledgment Regarding Any Supported QFCs.

 

To the extent that the
Loan Documents provide support, through a guarantee or otherwise, for Hedge Agreements or any other agreement or instrument that is
a QFC (such support, "QFC Credit Support" and each such QFC a "Supported QFC"), the parties
acknowledge and agree as follows with respect to the resolution power of the Federal Deposit Insurance Corporation under the Federal
Deposit Insurance Act and Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act (together with the regulations
promulgated thereunder, the "U.S. Special Resolution Regimes") in respect of such Supported QFC and QFC Credit
Support (with the provisions below applicable notwithstanding that the Loan Documents and any Supported QFC may in fact be stated to
be governed by the laws of the State of New York and/or of the United States or any other state of the United States). In the event
a Covered Entity that is party to a Supported QFC (each, a "Covered Party") becomes subject to a proceeding under a
U.S. Special Resolution Regime, the transfer of such Supported QFC and the benefit of such QFC Credit Support (and any interest and
obligation in or under such Supported QFC and such QFC Credit Support, and any rights in property securing such Supported QFC or
such QFC Credit Support) from such Covered Party will be effective to the same extent as the transfer would be effective under the
U.S. Special Resolution Regime if the Supported QFC and such QFC Credit Support (and any such interest, obligation and rights in
property) were governed by the laws of the United States or a state of the United States. In the event a Covered Party or a BHC Act
Affiliate of a Covered Party becomes subject to a proceeding under a U.S. Special Resolution Regime, Default Rights under the Loan
Documents that might otherwise apply to such Supported QFC or any QFC Credit Support that may be exercised against such Covered
Party are permitted to be exercised to no greater extent than such Default Rights could be exercised under the U.S. Special
Resolution Regime if the Supported QFC and the Loan Documents were governed by the laws of the United States or a state of the
United States. Without limitation of the foregoing, it is understood and agreed that rights and remedies of the parties with respect
to a Defaulting Lender shall in no event affect the rights of any Covered Party with respect to a Supported QFC or any QFC Credit
Support.

 

[signature pages follow]

 

    	 	-75-	 

     

    

 

APPENDIX A

 

GENERAL DEFINITIONS

 

When used in the Second Amended
and Restated Loan and Security Agreement dated as of May 16, 2018 (the "Agreement"), by and among Wells Fargo Capital
Finance, LLC, the Lenders, and Century Aluminum Company, Century Aluminum of South Carolina, Inc., Century of Aluminum Kentucky General
Partnership, NSA General Partnership, and Century Aluminum Sebree LLC, as Borrowers, (a) the terms Account, Chattel Paper,
Deposit Account, Document, Instruments, Inventory, Proceeds, Securities Account, Software,
and Supporting Obligations have the respective meanings assigned thereto under the UCC; (b) all terms reflecting Collateral
having the meanings assigned thereto under the UCC shall be deemed to mean such Property, whether now owned or hereafter created or acquired
by any Borrower or in which such Borrower now has or hereafter acquires any interest; (c) capitalized terms which are not otherwise
defined have the respective meanings assigned thereto in the Agreement; (d) accounting terms not otherwise specifically defined in
the Agreement shall be construed in accordance with GAAP consistently applied; and (e) the following terms shall have the following
meanings (terms defined in the singular to have the same meaning when used in the plural and vice versa):

 

2013
Indenture – the Indenture, dated as of June 4, 2013, among Century, the Guarantors party thereto and Wilmington
Trust, National Association, as Trustee and Noteholder Collateral Agent, governing Century's 7.5% Senior Secured Notes due 2021, as in
effect on the Second Restatement Effective Date, a copy of which is attached to the Agreement as Exhibit G.

 

2020
Offering Circular – the Preliminary Confidential Offering Circular dated June 18, 2020 with respect to
the proposed Senior Secured Notes due 2025, in the form delivered to Agent on June 17, 2020.

 

2021 Convertible Notes
Indenture – the Indenture, dated as of April 9, 2021, among Century and Wilmington Trust, National Association, as Trustee,
governing Century's 2.75% Convertible Senior Notes due 2028, as in effect on the Second Amendment Effective Date.

 

2021 Indenture –
the Indenture, dated as of April 14, 2021, among Century, the Guarantors party thereto and Wilmington Trust, National Association,
as Trustee and Noteholder Collateral Agent, governing Century's 7.5% Senior Secured Notes due 2028, as in effect on the Second Amendment
Effective Date, a copy of which is attached to this Agreement as Exhibit K.

 

Account Debtor –
any Person who is or may become obligated under or on account of any Account.

 

Acquisition –
(a) the purchase or other acquisition by a Person or its Subsidiaries of all or substantially all of the assets of (or any division
or business line of) any other Person, or (b) the purchase or other acquisition (whether by means of a merger, consolidation, or
otherwise) by a Person or its Subsidiaries of all or substantially all of the capital stock or other equity interests of any other Person.

 

    	 	A-1	 

     

    

 

 

Adjusted
Term SOFR – for purposes of any calculation, the rate per annum equal to (a) Term SOFR for such calculation plus (b) the
Term SOFR Adjustment; provided that if Adjusted Term SOFR as so determined shall ever be less than the Floor, then Adjusted Term SOFR
shall be deemed to be the Floor.

 

Affected
Financial Institution – (a) any EEA Financial Institution or (b) any UK Financial Institution.

 

Affiliate – with
respect 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") with respect 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 – as defined in the preamble to the Agreement.

 

Agent Loans – as defined in subsection 1.1.4
of the Agreement.

 

Aggregate
Bank Product Reserve – as of any date of determination, the lesser of (a) $10,000,00015,000,000
and (b) the sum of the Bank Product
Reserves that have been established by Agent as of such date of determination.

 

Agreement – the
Amended and Restated Loan and Security Agreement referred to in the first sentence of this Appendix A, all Exhibits and Schedules thereto
and this Appendix A, as each of the same may be amended, modified, restated or supplemented from time to time.

 

Announcements -
has the meaning assigned thereto in Section 2.1.4.

 

Anti-Corruption Laws –
the FCPA, the U.K. Bribery Act of 2010, as amended, and all other applicable laws and regulations or ordinances concerning or relating
to bribery, money laundering or corruption in any jurisdiction in which any Loan Party or any of its Subsidiaries or Affiliates is located
or is doing business.

 

Anti-Money Laundering Laws
– the applicable laws or regulations in any jurisdiction in which any Loan Party or any of its Subsidiaries or Affiliates is
located or is doing business that relates to money laundering, any predicate crime to money laundering, or any financial record keeping
and reporting requirements related thereto.

 

Applicable Margin –
the percentages set forth in the table below with respect to the Base Rate Portion and each LIBORSOFR
Portion that corresponds to the average daily Availability for the immediately preceding fiscal quarter (such average to be determined
using the Availability set forth in each Borrowing Base Certificate delivered during such fiscal year quarter, as adjusted on a daily
basis to reflect any change in the amount of outstanding Revolving Credit Loans or LC Exposure (other than Cash Collateralized LC Exposure)
or any change in Reserves during such period); provided, that for the period from the Second RestatementFourth Amendment
Effective Date through June 30, 20182022,
the Applicable Margin shall be at Level IIIII.

 

    A-2

     

    

 	Level	 	Availability	 	Applicable 
Margin for 
Base Rate Portions	 	 	Applicable

 Margin for

 LIBORSOFR

 Portions
	 
	I 	 	≥ an amount equal 67% of the Revolving Credit Maximum Amount	 	 	0.25	%	 	 	1.25	%
	II 	 	> an amount equal 33% of the Revolving Credit Maximum
    Amount but < an amount equal 67% of the Revolving Credit Maximum Amount	 	 	0.50	%	 	 	1.50	%
	III	 	< an amount equal 33% of the Revolving Credit Maximum
    Amount	 	 	0.75	%	 	 	1.75	%

 

Assignment and Acceptance
Agreement – an assignment and acceptance agreement substantially in the form of Exhibit A to the Agreement.

 

Available Tenor –
as of any date of determination and with respect to the then-current Benchmark, as applicable, (xa)
if the then-currentsuch
Benchmark is a term rate, any tenor for such Benchmark (or component thereof)
that is or may be used for determining the length of an interest period pursuant to this Agreement or (yb)
otherwise, any payment period for interest calculated with reference to such Benchmark, as applicable,
(or component thereof) that is or may be used for
determining the length of an Interest Period pursuant to this Agreementany
frequency of making payments of interest calculated with reference to such Benchmark, in each case, as of such date and not
including, for the avoidance of doubt, any tenor for such Benchmark that is then-removed from the definition of “"Interest
Period”"
pursuant to Section 3.13.3(iv).

 

Availability –
at any time, the amount of additional money which Borrowers are entitled to borrow from time to time as Revolving Credit Loans, such amount
being the lesser of (a) the difference derived when the sum of the principal amount of Revolving Credit Loans then outstanding (including
any amounts which Agent or any Lender may have paid for the account of any Borrower in accordance with any of the Loan Documents and which
have not been reimbursed by Borrowers), the LC Exposure (other than the Cash Collateralized LC Exposure), and any Reserves is subtracted
from the Borrowing Base and (b) the difference derived when the sum of the principal amount of Revolving Credit Loans then outstanding
(including any amounts which Agent or any Lender may have paid for the account of any Borrower in accordance with any of the Loan Documents
and which have not been reimbursed by Borrowers), the LC Exposure, and any Reserves is subtracted from the Revolving Credit Maximum Amount.

 

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

 

    A-3

     

    

 

Bail-In Legislation –
with (a) 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,
regulation, rule or requirement for such EEA Member Country from time to time which is described in the EU Bail-In Legislation
Schedule., and (b) with
respect to the United Kingdom, Part I of the United Kingdom Banking Act 2009 (as amended from time to time) and any other law, regulation
or rule applicable in the United Kingdom relating to the resolution of unsound or failing banks, investment firms or other financial
institutions or their affiliates (other than through liquidation, administration or other insolvency proceedings).

 

Bailee Certificate –
a letter agreement substantially in the form of Exhibit B to the Agreement.

 

Bank Product -
one or more of the following types of services extended to a Borrower by a Bank Product Provider as agreed from time to time in
writing by Borrower Representative: (i) cash management (including controlled disbursement services) and (ii) Derivative
Obligations.

 

Bank Product Provider –
Wells Fargo, any Affiliate of Wells Fargo or any Lender or Affiliate of a Lender.

 

Bank Product Reserve –
as of any date of determination, with respect to any Bank Product, the amount of the Reserve that Agent has established therefor (based
upon the applicable Bank Product Provider's determination in its Reasonable Credit Judgment of the credit exposure of Borrowers in respect
of such Bank Product) in respect of such Bank Product then provided or outstanding.

 

Base Rate –the greatest of (a) the
Federal Funds Rate in
effect on such day plus 1⁄2%, (b) the LIBOR Rate (which rate shall be
calculated based upon an Interest Period of 3 months and shall be determined on a daily basis)Term
SOFR for a one-month tenor in effect on such day, plus 1%, and (c) the rate of interest announced, from time to
time, within Wells Fargo at its principal office in San Francisco as its "prime rate" in
effect on such day, with the understanding that the "prime rate" is one of Wells Fargo's base rates (not
necessarily the lowest of such rates) and serves as the basis upon which effective rates of interest are calculated for those loans
making reference thereto and is evidenced by the recording thereof after its announcement in such internal publications as Wells
Fargo may designate (and, if any such announced rate is below zero, then the rate determined
pursuant to this clause (c);
provided that if the Base Rate as so determined shall ever be less than the Floor, then the Base Rate shall be deemed to
be zero)the
Floor.

 

Base Rate Portion –
that portion of the Revolving Credit Loans that is not subject to a LIBORSOFR
Option.

 

Base
Rate Term SOFR Determination Day – the meaning specified therefor in the definition of "Term SOFR".

 

    A-4

     

    

 

Benchmark –
,
initially, the LIBORTerm
SOFR Reference Rate; provided that if a Benchmark Transition Event, a Term SOFR Transition
Event, or an Early Opt-in Election, as applicable, and its related Benchmark Replacement Date have has
occurred with respect to the LIBORTerm
SOFR Reference Rate or the then-current Benchmark, then “"Benchmark”"
means the applicable Benchmark Replacement to the extent that such Benchmark Replacement has replaced such prior benchmark
rate pursuant to Section 3.13.3(i).

 

Benchmark Replacement -
for any Available Tenor,

 

(a)           with
respect to any Benchmark Transition Event or Early Opt-in Election, the first alternative set forth in the order below that can be determined
by the Agent for the applicable Benchmark Replacement Date:

 

		(1)	the sum of: (A) Term SOFR and (B) the related Benchmark Replacement Adjustment;

 

		(2)	the sum of: (A) Daily
Simple SOFR and (B) the related Benchmark Replacement Adjustment;

 

(3)   Benchmark
Replacement - with respect to any Benchmark Transition Event, the sum of: (Aa)
the alternate benchmark rate that has been selected by the Agent and the
Borrower Representative as the replacement for the then-current Benchmark for the applicable Corresponding
Tenor giving due consideration to (i) any selection or recommendation of a replacement benchmark rate or the mechanism
for determining such a rate by the Relevant Governmental Body or (ii) any evolving or then-prevailing market convention for determining
a benchmark rate as a replacement for the then-current Benchmark for Dollar-denominated syndicated credit facilities at
such time and (Bb)
the related Benchmark Replacement Adjustment; orprovided
that if such Benchmark Replacement as so determined would be less than the Floor, such Benchmark Replacement shall be deemed to be the
Floor for the purposes of this Agreement and the other Loan Documents.

 

(b)           with respect to any
Term SOFR Transition Event, the sum of (i) Term SOFR and( ii) the related Benchmark Replacement
Adjustment;

 

provided that, (i) in the case of clause (a)(1), if the Agent decides that
Term SOFR is not administratively feasible for the Agent, then Term SOFR will be deemed unable to be determined for purposes of this
definition and (ii) in the case of clause (a)(1) or clause (b) of this definition, the applicable Unadjusted
Benchmark Replacement is displayed on a screen or other information service that publishes such rate from time to time as selected
by the Agent in its reasonable discretion. If the Benchmark Replacement as determined pursuant to clause (a)(1), (a)(2) or
(a)(3) or clause (b) of this definition would be less than the Floor, the Benchmark Replacement will be deemed to be the
Floor for the purposes of this Agreement and the other Loan Documents.

 

    A-5

     

    

 

Benchmark
Replacement Adjustment - with respect to any replacement of the then-current Benchmark with an Unadjusted Benchmark
Replacement for any applicable Interest Period and Available Tenor for any setting of such Unadjusted Benchmark Replacement:

 

(1) for
purposes of clauses (a)(1) and (a)(2) of the definition of “Benchmark Replacement,” the first alternative set forth
in the order below that can be determined by the Agent:

 

(a)           the
spread adjustment, or method for calculating or determining such spread adjustment, (which may be a positive or negative value or
zero) as of the Reference Time such Benchmark Replacement is first set for such Interest Period that has been selected or
recommended by the Relevant Governmental Body for the replacement of such Available Tenor of such Benchmark with the applicable
Unadjusted Benchmark Replacement;

 

(b)           the
spread adjustment (which may be a positive or negative value or zero) as of the Reference Time such Benchmark Replacement is first set
for such Interest Period that would apply to the fallback rate for a derivative transaction referencing the ISDA Definitions to be effective
upon an index cessation event with respect to such Available Tenor of such Benchmark;

 

(2) for
purposes of clause (a)(3) of the definition of “Benchmark Replacement,”
Adjustment - with respect to any replacement of the then-current
Benchmark with an Unadjusted Benchmark Replacement for any applicable Available Tenor, the spread adjustment, or method for
calculating or determining such spread adjustment, (which may be a positive or negative value or zero) that has been selected by the
Agent and theAdministrative
Borrower Representative giving due consideration to (ia)
any selection or recommendation of a spread adjustment, or method for calculating or determining such spread adjustment, for the replacement
of such Available Tenor of such Benchmark with the applicable Unadjusted Benchmark Replacement
by the Relevant Governmental Body on the applicable Benchmark Replacement Date or (iib)
any evolving or then-prevailing market convention for determining a spread adjustment, or method for calculating or determining such spread
adjustment, for the replacement of such Available Tenor of such Benchmark with the applicable
Unadjusted Benchmark Replacement for Dollar-denominated syndicated credit facilities; and.

 

(3) for
purposes of clause (b) of the definition of “Benchmark Replacement,” the spread adjustment, or method for calculating
or determining such spread adjustment, (which may be a positive or negative value or zero) as of the Reference Time such Benchmark Replacement
is first set for such Interest Period that has been selected or recommended by the Relevant Governmental Body for the replacement of such
Available Tenor of the LIBOR Rate with a SOFR-based rate;

 

provided that,
(x) in the case of clause (1) above, such adjustment is displayed on a screen or other information service that publishes such
Benchmark Replacement Adjustment from time to time as selected by the Agent in its reasonable discretion and (y) if the then-current
Benchmark is a term rate, more than one tenor of such Benchmark is available as of the applicable Benchmark Replacement Date and the applicable
Unadjusted Benchmark Replacement that will replace such Benchmark in accordance with Section 3.13.3(i) will
not be a term rate, the Available Tenor of such Benchmark for purposes of this definition of “Benchmark Replacement Adjustment”
shall be deemed to be, with respect to each Unadjusted Benchmark Replacement having a payment period for interest calculated with reference
thereto, the Available Tenor that has approximately the same length (disregarding business day adjustments) as such payment period.

 

Benchmark
Replacement Conforming Changes - with respect to any Benchmark Replacement, any technical, administrative or
operational changes (including changes to the definition of “Base Rate,” the definition of “Business Day,”
the definition of “Interest Period,” timing and frequency of determining rates and making payments of interest, timing
of borrowing requests or prepayment, conversion or continuation notices, length of lookback periods, the applicability of breakage
provisions, and other technical, administrative or operational matters) that the Agent decides may be appropriate to reflect the
adoption and implementation of such Benchmark Replacement and to permit the administration thereof by the Agent in a manner
substantially consistent with market practice (or, if the Agent decides that adoption of any portion of such market practice is not
administratively feasible or if the Agent determines that no market practice for the administration of such Benchmark Replacement
exists, in such other manner of administration as the Agent decides is reasonably necessary in connection with the administration of
this Agreement and the other Loan Documents).

 

    A-6

     

    

 

Benchmark Replacement Date
- the earliest to occur of the following events with respect to the then-current Benchmark:

 

(1)           in
the case of clause (1) or (2) of the definition of “"Benchmark
Transition Event,”"
the later of (ai)
the date of the public statement or publication of information referenced therein and (bii)
the date on which the administrator of such Benchmark (or the published component used in the calculation thereof) permanently or indefinitely
ceases to provide all Available Tenors of such Benchmark (or such component thereof); or

 

(2)           in
in the case of clause (3) of the definition of "Benchmark Transition Event," the first date on which such Benchmark
(or the published component used in the calculation thereof) has been determined and announced by or on behalf of the administrator
of such Benchmark (or such component thereof) or the regulatory supervisor for the administrator of such Benchmark (or such
component thereof) to be non-representative or non-compliant with or non-aligned with the International Organization of Securities
Commissions (IOSCO) Principles for Financial Benchmarks; provided that such non-representativeness, non-compliance or non-alignment
will be determined by reference to the most recent statement or publication referenced in such clause (c)  and
even if any Available Tenor of such Benchmark (or such component thereof) continues to be provided on such
date.

 

(2) 
in the case of clause (3) of the definition of “Benchmark Transition Event,” the date of the public statement or
publication of information referenced therein;

 

(3) in
the case of a Term SOFR Transition Event, the date that is thirty (30) days after the Agent has provided the Term SOFR Notice to the
Lenders and the Borrowers pursuant to Section 3.13.3(i)(B);
or

 

(4)  in
the case of an Early Opt-in Election, the sixth (6th) Business Day after the date notice of such Early Opt-in Election is provided
to the Lenders, so long as the Agent has not received, by 5:00 p.m. (New York City time) on the fifth (5th) Business Day after
the date notice of such Early Opt-in Election is provided to the Lenders, written notice of objection to such Early Opt-in Election
from Lenders comprising the Majority Lenders.

  

For the avoidance of doubt, (i) if
the event giving rise to thethe "Benchmark
Replacement Date occurs on the same day as, but earlier than, the Reference Time in respect of any determination,
the Benchmark Replacement Date will be deemed to have occurred prior to the Reference Time for such determination and (ii) the “Benchmark
Replacement Date”" will be deemed to
have occurred in the case of clause (1a)
or (2b) with respect
to any Benchmark upon the occurrence of the applicable event or events set forth therein with respect to all then-current Available Tenors
of such Benchmark (or the published component used in the calculation thereof).

 

    A-7

     

    

 

Benchmark Transition Event
- the occurrence of one or more of the following events with respect to the then-current Benchmark:

 

(1)           a public statement
or publication of information by or on behalf of the administrator of such Benchmark (or the published component used in the calculation
thereof) announcing that such administrator has ceased or will cease to provide all Available Tenors of such Benchmark (or such component
thereof), permanently or indefinitely, provided that, at the time of such statement or publication, there is no successor administrator
that will continue to provide any Available Tenor (if applicable)
of such Benchmark (or such component thereof);

 

(2)            a
public statement or publication of information by the regulatory supervisor for the administrator of such Benchmark (or the published
component used in the calculation thereof), the FRBBoard
of Governors, the Federal Reserve Bank of New York, an insolvency official with jurisdiction over the administrator for such
Benchmark (or such component), a resolution authority with jurisdiction over the administrator for such Benchmark (or such component)
or a court or an entity with similar insolvency or resolution authority over the administrator for such Benchmark (or such component),
which states that the administrator of such Benchmark (or such component) has ceased or will cease to provide all Available Tenors of
such Benchmark (or such component thereof) permanently or indefinitely, provided that, at the time of such statement or publication,
there is no successor administrator that will continue to provide any Available Tenor of such Benchmark (or such component thereof); or

 

(3)           a
public statement or publication of information by the regulatory supervisor foror
on behalf of the administrator of such Benchmark (or the published component used in the calculation thereof)
or the regulatory supervisor for the administrator of such Benchmark (or such component thereof) announcing that all Available
Tenors of such Benchmark (or such component thereof) are no longer representativenot,
or as of a specified future date will not be, representative or in compliance with or aligned with the International Organization of Securities
Commissions (IOSCO) Principles for Financial Benchmarks.

 

For the avoidance of doubt, a
 “if the then-current Benchmark has any Available Tenors,
a "Benchmark Transition Event”"
will be deemed to have occurred with respect to any Benchmark if a public statement or publication of information set forth
above has occurred with respect to each then-current Available Tenor of such Benchmark (or the published component used in the calculation
thereof).

 

Benchmark
Transition Start Date – in the case of a Benchmark Transition Event, the earlier of (a) the applicable Benchmark Replacement
Date and (b) if such Benchmark Transition Event is a public statement or publication of information of a prospective event, the 90th
day prior to the expected date of such event as of such public statement or publication of information (or if the expected date of such
prospective event is fewer than 90 days after such statement or publication, the date of such statement or publication).

 

Benchmark Unavailability
Period - the period (if any) (x) beginning at the time that a Benchmark Replacement Date pursuant
to clauses (1) or (2) of that definition has occurred if, at such time, no Benchmark Replacement has replaced
the then-current Benchmark for all purposes hereunder and under any Loan Document in accordance with Section 3.13.3 and (y) ending
at the time that a Benchmark Replacement has replaced the then-current Benchmark for all purposes hereunder and under any Loan Document
in accordance with Section 3.13.3.

 

    A-8

     

    

 

Beneficial
Ownership Certification – a certification regarding beneficial ownership as required by the Beneficial Ownership Regulation.

 

Beneficial
Ownership Regulation – 31 C.F.R. § 1010.230.

 

BHC Act Affiliate –
with respect to any Person, an "affiliate" (as such term is defined under, and interpreted in accordance with, 12 U.S.C. 1841(k))
of such Person.

 

Bill and Hold Agreement
– an agreement among a Borrower, Agent and the applicable Account Debtor substantially in the form of Exhibit D to the
Agreement or in such other form as is reasonably acceptable to Agent.

 

Blocked Account Agreement
– a control agreement among a Borrower, Agent, and a depository bank substantially in the form of Exhibit C to the Agreement
or in such other form as is reasonably acceptable to Agent.

 

Board
of Governors – the Board of Governors of the Federal Reserve System of the United States (or any successor).

 

Borrower – as defined in the preamble to the
Agreement.

 

Borrower Representative
– Century Aluminum Company, acting on its own behalf as a Borrower and on behalf of all other Borrowers.

 

Borrowing – a
borrowing of Loans or an issuance of Letters of Credit under the Agreement.

 

Borrowing Base – as at any date of determination
thereof, an amount equal to the sum of:

 

(i)            85% (increased
to 90% solely with respect to Eligible Accounts of Glencore so long as Glencore maintains Investment Grade Status (it being understood
that such advance rate shall be 85% with respect to Glencore if it does not maintain Investment Grade Status)) of the net amount
of Eligible Accounts outstanding at such date;

 

(ii)           the lesser
of (A) the sum of (1) 75% of the value (as determined below) of Eligible Inventory consisting of work in process at such date,
and (2) 80% of the value (as determined below) of Eligible Inventory consisting of finished goods or raw materials at such date,
and (B) 85% times the most recently determined Net Liquidation Percentage times the value (as determined below) of
Eligible Inventory (provided, that Availability attributable to Eligible Inventory consisting of work in process shall not exceed
$32,000,000the WIP Sublimit);
and

 

(iii)          100%
of the Qualified Cash Amount.

 

The advance rates set
forth above may not be adjusted downward by Agent. For purposes hereof, (1) the net amount of Eligible Accounts at any time
shall be the face amount of such Eligible Accounts less any and all returns, rebates, discounts (which may, at Agent's option
exercised using its Reasonable Credit Judgment, be calculated on shortest terms), credits, allowances or excise taxes of any nature
at any time issued, owing, claimed by Account Debtors, granted, outstanding or payable in connection with such Accounts at such time
and (2) the value of Eligible Inventory shall be determined on a first-in, first-out, lower of cost or market basis in
accordance with GAAP, but excluding any write-downs resulting from loss on conversion.

 

    A-9

     

    

 

Borrowing Base Certificate
– a certificate of a Responsible Officer of Borrower Representative substantially in the form of Exhibit E to the Agreement
(or another form acceptable to Agent) setting forth the calculation of the Borrowing Base. All calculations of the Borrowing Base in connection
with the preparation of any Borrowing Base Certificate shall originally be made by Borrowers and certified to Agent; provided that
Agent shall have the right to review and adjust, in the exercise of its Reasonable Credit Judgment, any such calculation after giving
notice thereof to Borrowers, to the extent that Agent determines that such calculation is not in accordance with the Agreement.

 

Business Day –
any day, excluding that is
not a Saturday, Sunday and any day which is a legal holiday under the laws of the State of
New York or California or is a day on which banking institutions located in such state are closed; provided
that with respect to determinations in connection with, and payments of principal and interest on, LIBOR Portions, such day is
also a LIBOR Business Day.or other day on which the Federal
Reserve Bank of New York is closed.

 

Capital Expenditures –
expenditures made or liabilities incurred for the acquisition of any fixed or capital assets or improvements, replacements,
substitutions or additions thereto which have a useful life of more than one year, including the total principal portion of
Capitalized Lease Obligations; provided, however, that Capital Expenditures shall not include (a) expenditures to
the extent they are paid with the proceeds of insurance settlements, condemnation awards, and other settlements in respect of lost,
destroyed, damaged, or condemned fixed or capital assets, (b) expenditures to the extent they are financed with the proceeds of
a sale or other disposition of fixed or capital assets that is expressly permitted under the Agreement, and (c) expenditures
made in connection with the construction of any fixed or capital asset if the applicable Borrower intends to consummate a sale and
leaseback transaction of such asset permitted under the Agreement within six months of the completion of such construction; provided
that if such sale and leaseback transaction is not consummated within such time period, then all such expenditures will constitute
Capital Expenditures in the period in which such six-month period ends.

 

Capitalized Lease Obligation
– at the time of any determination thereof, any Indebtedness represented by obligations under a lease that is required to be
capitalized for financial reporting purposes in accordance with GAAP.

 

Cash Collateralized LC Exposure – as defined
in subsection 1.2.11 of the Agreement.

 

Century – as defined in the preamble to the
Agreement.

 

CFC – a controlled foreign corporation (as that
term is defined in the Code).

 

Code – the Internal Revenue Code of 1986, as
amended.

 

    A-10

     

    

 

Collateral –
all of the Property and interests in Property of Borrowers described in Section 5.1 of the Agreement and not excluded pursuant
to Section 5.2 of the Agreement, and all other Property and interests in Property that may hereafter be pledged to Agent for
the benefit of the Secured Parties to secure the payment and performance of any of the Obligations.

 

Commodity Exchange Act – means the Commodity
Exchange Act (7 U.S.C. § 1 et seq.).

 

Compliance Certificate
– a certificate substantially in the form of Exhibit F to the Agreement executed by a Financial Officer of Borrower Representative.

 

Computer Hardware and Software
– all of any Borrower's rights (including rights as licensee and lessee) with respect to (i) computer and other electronic
data processing hardware, including all integrated computer systems, central processing units, memory units, display terminals, printers,
computer elements, card readers, tape drives, hard and soft disk drives, cables, electrical supply hardware, generators, power equalizers,
accessories, peripheral devices and other related computer hardware; (ii) all software and all software programs designed for use
on the computers and electronic data processing hardware described in clause (i) above, including all operating system software,
utilities and application programs in any form (source code and object code in magnetic tape, disk or hard copy format or any other listings
whatsoever); (iii) any firmware associated with any of the foregoing; and (iv) any documentation for hardware, software and
firmware described in clauses (i), (ii) and (iii) above, including flow charts, logic diagrams, manuals, specifications, training
materials, charts and pseudo codes.

 

Conforming
Changes – with respect to either the use or administration of Term SOFR or the use, administration, adoption or implementation of
any Benchmark Replacement, any technical, administrative or operational changes (including changes to the definition of "Base Rate,"
the definition of "Business Day," the definition of "U.S. Government Securities Business Day," the definition of "Interest
Period" or any similar or analogous definition (or the addition of a concept of "interest period"), timing and frequency
of determining rates and making payments of interest, timing of borrowing requests or prepayment, conversion or continuation notices,
the applicability and length of lookback periods, the applicability of Section 3.13.3 and other technical, administrative or operational
matters) that Agent decides may be appropriate to reflect the adoption and implementation of any such rate or to permit the use and administration
thereof by Agent in a manner substantially consistent with market practice (or, if Agent decides that adoption of any portion of such
market practice is not administratively feasible or if Agent determines that no market practice for the administration of any such rate
exists, in such other manner of administration as Agent decides is reasonably necessary in connection with the administration of this
Agreement and the other Loan Documents).

 

Consolidated –
the consolidation in accordance with GAAP of the accounts or other items as to which such term applies.

 

    A-11

     

    

 

 

Consolidated Net Income
(Loss) – with respect to any fiscal period, the net income (or loss) of the Loan Parties determined in accordance with GAAP
on a Consolidated basis; provided, however, Consolidated Net Income shall not include:

 

(i)            the net income
(or loss) of any Person (other than a Loan Party) in which a Loan Party has an ownership interest unless received in a cash distribution
or requiring the payment of cash;

 

(ii)           the net
income (or loss) of any Person accrued prior to the date it became a Subsidiary of a Loan Party or is merged into or consolidated with
a Loan Party;

 

(iii)          net
after-tax non-cash extraordinary gains or losses as defined under GAAP;

 

(iv)          net after-tax
non-cash gains or losses from asset dispositions other than sales in the ordinary course of business;

 

(v)           net after-tax
non-cash gains or losses attributable to the early extinguishment of debt;

 

(vi)          any after-tax
non-cash unrealized gains or losses on forward contracts or hedging contracts;

 

 (vii)        the cumulative effect of a change in accounting principles;

 

(viii)
       after-tax non-cash charges or gains relating to the valuation of inventory by
application of the LIFO (last in/first out) method and lower of cost or market value method of inventory valuation;

 

(ix)          after-tax
unrealized gains on contractual receivables until realized in cash;

 

(x)            all other
after-tax non-cash charges or gains (excluding any such non-cash charge or gain to the extent that it represents an accrual of or reserve
for cash expenditures or receipts in any future period); and

 

(xi)          interest
income not paid in cash.

 

Controlled Investment Account – any Dominion Account or any other deposit account or securities account of a Borrower that is subject to a control agreement
in favor of Agent, in form and substance satisfactory to Agent, with respect to such account.

 

Corresponding
Tenor - with respect to any Available Tenor means, as applicable, either a tenor (including overnight) or an interest
payment period having approximately the same length (disregarding business day adjustment) as such Available Tenor.

 

Covenant Testing Period – a period (a) commencing on the last day of the fiscal month of Borrowers most recently ended on or prior to a Covenant
Trigger Date and for which Agent has received financial statements required to be delivered pursuant to Section 8.1.3(c) and
(b) ending on the first day after such Covenant Trigger Date that Availability equals or exceeds the Covenant Trigger Amount for
60 consecutive days.

 

     A-12

     

    

 

Covenant Trigger Amount – at any date
of determination, the greater of (a) an amount equal to 10% of the Line Cap as of such date and (b) $12,500,00017,850,000.

 

Covenant Trigger Date – any day on
which Borrowers fail to maintain Availability in an amount greater than or equal to the Covenant Trigger Amount.

 

Covered Entity – any of the following:

 

(a)           a "covered entity"
as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 252.82(b);

 

(b)           a
 "covered bank" as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 47.3(b); or

 

(c)           a
 "covered FSI" as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 382.2(b).

 

Covered Party – as defined in Section 12.23 of the Agreement.

 

Current Assets –
at any date, the assets of a Person that would be properly classified as current assets on a balance sheet of such Person at such date
in accordance with GAAP.

 

Daily
Simple SOFR - for any day, SOFR, with the conventions for this rate (which will include a lookback) being established
by the Agent in accordance with the conventions for this rate selected or recommended by the Relevant Governmental Body for determining
 “Daily Simple SOFR” for syndicated business loans; provided, that if the Agent decides
that any such convention is not administratively feasible for the Agent, then the Agent may establish another convention in its reasonable
discretion.

 

Default – an
event or condition the occurrence of which would, with the lapse of time or the giving of notice, or both, become an Event of Default.

 

Default Rate – as defined in subsection 2.1.2 of the Agreement.

 

Default Right –
as defined in, and shall be interpreted in accordance with, 12 C.F.R. §§ 252.81, 47.2 or 382.1, as applicable.

 

     A-13

     

    

 

Defaulting Lender –
any Lender that (a) has failed to (i) fund all or any portion of its Loans within two Business Days of the date such Loans
were required to be funded hereunder unless such Lender notifies Agent and Borrower Representative 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 or Event of Default, shall be specifically identified in such writing) has not been satisfied,
or (ii) pay to Agent, Issuing Lender, or any other Lender any other amount required to be paid by it hereunder (including
in respect of its participation in Letters of Credit) within two Business Days of the date when due, (b) has notified any
Borrower, Agent or Issuing Lender in writing that it does not intend to comply with its funding obligations hereunder, or has made a
public statement to that effect (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 or Event of Default, shall be specifically identified in such writing or
public statement) cannot be satisfied), (c) has failed, within three Business Days after written request by Agent or Borrower
Representative, to confirm in writing to Agent and Borrower Representative that it will comply with its prospective funding
obligations hereunder (provided, that such Lender shall cease to be a Defaulting Lender pursuant to this clause (c) upon
receipt of such written confirmation by Agent and Borrower Representative), or (d) has, or has a direct or indirect parent
company that has, (i) become the subject of any Insolvency Proceeding, (ii) had appointed for it a receiver, custodian,
conservator, trustee, administrator, assignee for the benefit of creditors or similar Person charged with reorganization or
liquidation of its business or assets, including the Federal Deposit Insurance Corporation or any other state or federal regulatory
authority acting in such a capacity, or (iii) become the subject of a Bail-in 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 so long as such ownership interest does not result in or provide such
Lender with immunity from the jurisdiction of courts within the United States or from the enforcement of judgments or writs of
attachment on its assets or permit such Lender (or such Governmental Authority) to reject, repudiate, disavow or disaffirm any
contracts or agreements made with such Lender. Any determination by Agent that a Lender is a Defaulting Lender under any one or more
of clauses (a) through (d) above shall be conclusive and binding absent manifest error, and such Lender shall be deemed to
be a Defaulting Lender upon delivery of written notice of such determination to Borrower Representative, Issuing Lender, and
each Lender.

 

Derivative Obligations – every obligation of a Person under any forward contract, futures contract, exchange contract, swap, option or other financing
agreement or arrangement (including caps, floors, collars and similar arrangements), the value of which is dependent upon interest rates,
currency exchange rates, commodities indices or other indices. Without limiting the foregoing, Derivative Obligations shall include, with
respect to any Loan Party, any obligation to pay or perform under any agreement, contract or transaction that constitutes a "swap"
within the meaning of section 1a(47) of the Commodity Exchange Act.

 

Dilution – as
of any date of determination, a percentage, based upon the experience of the immediately prior 180 consecutive days, that is the result
of dividing the dollar amount of (a) bad debt write-downs, discounts, advertising allowances, credits, or similar non-cash items
with respect to Borrowers' Accounts during such period, by (b) Borrowers' billings with respect to Accounts during such period.

 

Dilution Reserve –
as of any date of determination, an amount sufficient to reduce the advance rate against Eligible Accounts by 1 percentage point for each
percentage point by which Dilution is in excess of 5%.

 

Distribution –
in respect of any Person, includes: (i) the payment of any dividends or other distributions on Securities (except distributions in
such Securities) and (ii) the redemption, acquisition, or other retirement of Securities of such Person, as the case may be, unless
made contemporaneously from the net proceeds of the sale of Securities.

 

Dominion Account – as defined in subsection
6.2.3 of the Agreement.

 

     A-14

     

    

 

Early Opt-in Election -
if the then-current Benchmark is the LIBOR Rate, the occurrence of:

 

(1)            a
notification by the Agent to (or the request by the Borrower Representative to the Agent to notify) each of the other parties hereto that
at least five currently outstanding Dollar-denominated syndicated credit facilities at such time contain (as a result of amendment or
as originally executed) a SOFR-based rate (including SOFR, a term SOFR or any other rate based upon SOFR) as a benchmark rate (and such
syndicated credit facilities are identified in such notice and are publicly available for review), and

 

(2)            the
joint election by the Agent and the Borrowers to trigger a fallback from the LIBOR Rate and the provision by the Agent of written notice
of such election to the Lenders.

 

EBITDA – with
respect to any period, the sum of Consolidated Net Income (Loss) before Interest Expense, income taxes, depreciation and amortization
for such period all as determined for Borrowers and Guarantors on a Consolidated basis and in accordance with GAAP.

 

EEA Financial
Institution – (a) any credit institution or investment firm established in any EEA Member Country which is subject to
the supervision of an EEA Resolution Authority, (b) any entity established in an EEA Member Country which is a parent of an
institution described in clause (a) of this definition, or (c) any financial institution established in an EEA Member
Country which is a subsidiary of an institution described in clauses (a) or (b) of this definition and is subject to
consolidated supervision with its parent.

 

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

 

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

 

Eligible Account –
an Account arising in the ordinary course of the business of any Borrower from the sale of goods or rendition of services that complies
with each of the representations and warranties respecting Eligible Accounts made in the Loan Documents; provided that no Account shall
be an Eligible Account if:

 

(i)             it arises
out of a sale made or services rendered by a Borrower to a Subsidiary of a Borrower or an Affiliate of a Borrower or to a Person controlled
by an Affiliate of a Borrower; or

 

(ii)            it remains
unpaid more than 120 days after the original invoice date shown on the invoice or 60 days after the original due date shown on the invoice;
or

 

(iii)           the Account
Debtor has disputed liability or made a claim or exercised a right of setoff with respect to such Account; provided, that any such
Account shall be eligible to the extent the amount thereof exceeds such dispute, claim, or right of setoff; or

 

     A-15

     

    

 

(iv)          (A) the
Account Debtor is also a creditor or supplier of a Borrower, or (B) the Account otherwise is subject to right of setoff by the
Account Debtor; provided, that (1) any such Account shall be eligible to the extent such amount thereof exceeds such
contract, setoff or similar right, and (2) any such Account shall be eligible to the extent such Account is subject to a
No-Offset Letter executed by the applicable Account Debtor and delivered to Agent; or

 

(v)           the Account Debtor
has commenced a voluntary case under the federal bankruptcy laws, as now constituted or hereafter amended, or made an assignment for the
benefit of creditors, or a decree or order for relief has been entered by a court having jurisdiction in the premises in respect of the
Account Debtor in an involuntary case under the federal bankruptcy laws, as now constituted or hereafter amended, or any other petition
or other application for relief under the federal bankruptcy laws, as now constituted or hereafter amended, has been filed against the
Account Debtor, or if the Account Debtor has failed, suspended business, ceased to be Solvent to the knowledge of the applicable Borrower,
or consented to or suffered a receiver, trustee, liquidator or custodian to be appointed for it or for all or a significant portion of
its assets or affairs; or

 

(vi)          it arises from a sale
made or services rendered to an Account Debtor outside the United States, unless either (1) such sale is made on letter of credit,
guaranty or acceptance terms, in each case acceptable to Agent in its Reasonable Credit Judgment or (2) such Account otherwise complies
with the requirements of the definition of Eligible Account and Agent in its Reasonable Credit Judgment elects to treat such Account as
an Eligible Account notwithstanding this clause (vi); or

 

(vii)         the Account Debtor
is the United States of America, or any department, agency or instrumentality thereof, or any other Governmental Authority, unless either
(1) the applicable Borrower assigns its right to payment of such Account to Agent in a manner satisfactory to Agent in its Reasonable
Credit Judgment so as to comply with the Assignment of Claims Act of 1940 (31 U.S.C. §203 et seq., as amended) or similar
state or foreign statutes to the extent applicable, or (2) such Account otherwise complies with the requirements of the definition
of Eligible Account and Agent in its Reasonable Credit Judgment elects to treat such Account as an Eligible Account notwithstanding this
clause (vii); or

 

(viii)        it is not at all
times subject to Agent's duly perfected, first priority security interest or is subject to a Lien that is not a Permitted Lien; or

 

(ix)           the Account is evidenced
by chattel paper or an instrument of any kind, or has been reduced to judgment; or

 

(x)            50% or more of the
Accounts owing from the Account Debtor are not Eligible Accounts hereunder by reason of the application of clause (ii) above; or

 

 (xi)           it represents service charges, late fees or similar charges; or

 

(xii)         it is not
an existing account receivable which would be properly classified as such on the applicable Borrower's books in accordance with
GAAP; or

 

     A-16

     

    

 

(xiii)         the Account arises
in a transaction wherein goods are sold pursuant to a sale or return, a sale on approval or any other terms by reason of which the payment
by the Account Debtor may be conditional (expressly excluding goods sold on a "bill and hold" basis that are not excluded from
Eligible Accounts pursuant to clause (xvi) below); or

 

 (xiv)         the Account is not payable in U.S. Dollars;

 

(xv)
          the Account is with respect to an Account Debtor (other than Glencore, Alcoa
Corporation or Southwire Company, which are subject to the limitations set forth below), whose total Accounts owing to Borrowers
exceed 20% (such percentage, as applied to a particular Account Debtor, being subject to adjustment by Agent in its Reasonable
Credit Judgment) of all Eligible Accounts; the Account is with respect to Glencore to the extent its total Accounts owing to
Borrowers exceed 100% (such percentage, as applied to Glencore, being subject to adjustment by Agent in its Reasonable Credit
Judgment) of all Eligible Accounts; the Account is with respect to Alcoa Corporation to the extent its total Accounts owing to
Borrowers exceed 30% (such percentage, as applied to Alcoa Corporation, being subject to adjustment by Agent in its Reasonable
Credit Judgment) of all Eligible Accounts; the Account is with respect to Southwire Company to the extent its total Accounts owing
to Borrowers exceed 50% (such percentage, as applied to Southwire Company, being subject to adjustment by Agent in its Reasonable
Credit Judgment) of all Eligible Accounts; except in any such case that Accounts owing by any such Account Debtor shall only be
excluded from Eligible Accounts to the extent of the excess of such applicable concentration limit; provided, however, that, in each
case, the amount of Eligible Accounts that are excluded because they exceed the foregoing applicable concentration limit shall be
determined by Agent based on all of the otherwise Eligible Accounts prior to giving effect to any eliminations based upon the
foregoing concentration limit; or

 

(xvi)         (i) the goods
giving rise to such Account have not been billed to the Account Debtor, (ii) the goods giving rise to such Account have been sold
on a "bill and hold" basis (unless (A) Agent has received a Bill and Hold Agreement executed and delivered by the Account
Debtor thereof or (B) the goods giving rise to such Account have been sold pursuant to a Permitted Glencore Bill and Hold Transaction),
or (iii) the services giving rise to such Account have not been performed and billed to the Account Debtor; or

 

(xvii)        the Account was
acquired pursuant to an Acquisition unless Agent has completed a field examination with respect to the business and assets of the Acquisition
in accordance with Agent's customary procedures and practices and as otherwise required by the nature and circumstances of the business
of the Acquisition, the scope and results of which are satisfactory to Agent in its Reasonable Credit Judgment; provided, that
any Accounts arising from the business that was the subject of the Acquisition shall only be Eligible Accounts to the extent that Agent
has so completed such field examination with respect thereto and the criteria for Eligible Accounts otherwise set forth herein are satisfied
with respect thereto in accordance with this Agreement; or

 

     A-17

     

    

 

 (xviii)     the Account Debtor is a Sanctioned Person or Sanctioned Entity; or

 

(xix)        the
Account represents the right to receive progress payments or other advance billings that are due prior to the completion of
performance by a Borrower of the subject contract for goods or services; or

 

(xx)         it
is not otherwise acceptable to Agent in its Reasonable Credit Judgment.

 

Notwithstanding clause (i) of
this definition relating to Affiliates, Accounts with respect to which Glencore is the Account Debtor will be considered to be Eligible
Accounts provided such Accounts meet all criteria of this definition other than those set forth in clause (i), and provided that with
respect to determining compliance with clause (xii), Glencore shall be deemed not an Affiliate of Borrower.

 

Eligible Inventory –
Inventory of any Borrower (other than packaging and shipping materials and supplies, tooling, samples and literature). Without limiting
the generality of the foregoing, no Inventory shall be Eligible Inventory if:

 

(i)            it is not
raw materials (including saleable scrap), work-in progress, operating materials or finished goods; or

 

(ii)           it is slow-moving
(unless available for sale in the ordinary course of business as new and unused inventory), obsolete or unmerchantable, restrictive or
custom items, or goods that constitute spare parts, supplies used or consumed in a Borrower's business, bill and hold goods, defective
goods (unless available for sale in the ordinary course of business as new and unused inventory), "seconds," or Inventory acquired
on consignment; or

 

(iii)          except
with respect to in transit Inventory addressed in clause (vi) below, it is not at all times subject to Agent's duly perfected, first
priority security interest or is subject to a Lien that is not a Permitted Lien; or

 

(iv)          it
is not located at one or more of the business locations set forth in Schedule 6.1.1 to the Agreement, as updated by Borrowers
in accordance with the Agreement; provided that in-transit Inventory shall constitute Eligible Inventory notwithstanding this
clause (iv) so long as such in-transit Inventory otherwise complies with the applicable requirements of the definition of
Eligible Inventory; or

 

(v)            it is located
on real property not owned or leased by a Borrower unless Borrowers shall have obtained a Bailee Certificate from the owner of the real
property on which such Inventory is located; provided that in-transit Inventory shall constitute Eligible Inventory notwithstanding
this clause (v) so long as such in-transit Inventory otherwise complies with the applicable requirements of the definition of Eligible
Inventory; or

 

     A-18

     

    

 

(vi)          it
is in transit unless such inventory is either (A) in transit within the United States of America and is the subject of an
appropriate financing statement filed under the UCC, or (B) in transit outside of, but on route to, the United States of
America (including its inland waterways) and the title documents in respect thereof (x) are negotiable, (y) are in the
possession of a Title Document Agent, and (z) have been consigned and issued as follows: "to the order of a Title Document
Agent, as agent for secured party, Wells Fargo Capital Finance, LLC, which secured party has a security interest in the goods
covered by this document"; provided, that the maximum amount of in-transit inventory not located in the United States of
America (including its inland waterways) at any one time included as Eligible Inventory shall not exceed $30,000,000; or

 

(vii)         it
is located outside of the United States of America and is not in transit; or

 

(viii)        is subject
to a third party's trademark or other proprietary right, unless Agent is reasonably satisfied that it could sell such inventory on satisfactory
terms in connection with the exercise of its remedies following an Event of Default; or

 

(ix)           Borrower
does not have good, valid, and marketable title thereto; or

 

(x)            except with
respect to in transit Inventory addressed in clause (vi) above, it is the subject of a bill of lading or other document of title;
or

 

(xi)           it consists
of goods returned or rejected by a Borrower's customers that are no longer saleable in the ordinary course of business as new and unused
inventory; or

 

(xii)          it
is acquired pursuant to an Acquisition unless Agent has (A) completed a field examination with respect to the business and
assets of the Acquisition in accordance with Agent's customary procedures and practices and as otherwise required by the nature and
circumstances of the business of the Acquisition, the scope and results of which are satisfactory to Agent in its Reasonable Credit
Judgment and (B) received a net orderly liquidation value appraisal of the Inventory acquired in such Acquisition, in form and
substance reasonably acceptable to Agent from an appraiser reasonably acceptable to Agent; provided, that any Inventory
pertaining to the business that was the subject of the Acquisition shall only be Eligible Inventory to the extent that Agent has so
completed such field examination with respect thereto and received such appraisal and the criteria for Eligible Inventory otherwise
set forth herein are satisfied with respect thereto in accordance with this Agreement; or

 

(xiii)         it is not otherwise acceptable to Agent in
its Reasonable Credit Judgment.

 

Environmental Laws – all federal,
state and local laws, rules, regulations, ordinances, orders and consent decrees relating to health, safety and environmental matters.

 

ERISA – the Employee Retirement Income
Security Act of 1974, as amended, and any successor statute, and all rules and regulations from time to time promulgated thereunder.

 

     A-19

     

    

 

ERISA Affiliate –
any trade or business (whether or not incorporated) under common control with any Borrower within the meaning of Section 414(b) or
(c) of the Code (and Sections 414(m) and (o) of the Code for purposes of provisions relating to Section 412 of the
Code).

 

ERISA Event –
(a) any Reportable Event (except an event for which the 30-day notice period is waived); (b) the failure to comply with the
 "minimum funding standard" (as defined in Section 412 of the Code or Section 302 of ERISA), whether or not waived
with respect to any Pension Plan; (c) the filing pursuant to Section 412(c) of the Internal Revenue Code or Section 303
of ERISA of an application for a waiver of the minimum funding standard with respect to any Pension Plan; (d) the incurrence by Borrowers
or any ERISA Affiliate of any liability under Title IV of ERISA with respect to the termination of any Pension Plan; (e) the receipt
by Borrowers or any ERISA Affiliate from the PBGC or a plan administrator of any notice relating to an intention to terminate any Pension
Plan or to appoint a trustee to administer any Pension Plan; (f) the incurrence by Borrowers or any ERISA Affiliate of any liability
with respect to withdrawal or partial withdrawal from any Pension Plan or Multiemployee Plan; or (g) the receipt by Borrowers or
any ERISA Affiliate of any notice, or the receipt by any Multiemployer Plan from Borrowers or any ERISA Affiliate of any notice, concerning
the imposition of Withdrawal Liability or a determination that a Multiemployer Plan is, or is expected to be, insolvent or in reorganization,
within the meaning of Title IV of ERISA.

 

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

 

Event of Default – as defined in Section 10.1 of the Agreement.

 

Exchange Act – the Securities Exchange Act of
1934.

 

Excluded Derivative Obligations - with respect to any Guarantor, any Derivative Obligation if, and to the extent that, all or a portion of the guaranty of such Guarantor
of, or the grant by such Guarantor of a security interest to secure, such Derivative Obligation (or any guaranty 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 to constitute an "eligible contract
participant" as defined in the Commodity Exchange Act and the regulations thereunder at the time the guaranty of such Guarantor or
the grant of such security interest becomes effective with respect to such Derivative Obligation. If a Derivative Obligation arises under
a master agreement governing more than one swap, such exclusion shall apply only to the portion of such Derivative Obligation that is
attributable to swaps for which such guaranty or security interest is or becomes illegal.

 

     A-20

     

    

 

Excluded Taxes -
any of the following Taxes imposed on or with respect to a Lender, the Agent or a Participant or required to be withheld or deducted
from a payment to a Lender or the Agent, (a) Taxes imposed on or measured by net income (however denominated), franchise Taxes,
and branch profits Taxes, in each case, (i) imposed as a result of such Lender or the Agent being organized under the laws of,
or having its principal office or, in the case of any Lender, its applicable lending office located in, the jurisdiction imposing
such Tax (or any political subdivision thereof) or (ii) imposed as a result of a present or former connection between such
Lender or Agent and the jurisdiction imposing such tax (other than connections arising from such person having executed, delivered,
become a party to, performed its obligations under, received payments under, received or perfected a security interest under,
engaged in any other transaction pursuant to or enforced any Loan Document, or sold or assigned an interest in any Loan or Loan
Document), (b) in the case of a Lender, U.S. federal withholding Taxes imposed under applicable law on amounts payable to or
for the account of such Lender with respect to an applicable interest in a Loan or Revolving Commitment on the date on which
(i) such Lender acquires such interest in the Loan or Revolving Commitment (other than pursuant to an assignment request by the
Borrower under Section 3.13.2) or (ii) such Lender changes its lending office, except in each case to the extent that,
pursuant to Section 2.9, amounts with respect to such Taxes were payable either to such Lender's assignor immediately before
such Lender became a party hereto or to such Lender immediately before it changed its lending office, (c) United States taxes
that would not have been imposed but for such Lender’s or the Agent’s failure to comply with Section 12.1.3, and
(d) any U.S. federal withholding Taxes imposed under FATCA.

 

Existing Loan Agreement – as defined in the
preamble to the Agreement.

 

Existing Loan Documents – as defined in Section 1.4 of the Agreement.

 

Existing Obligations – as defined in Section 1.4 of the Agreement.

 

Facility – as defined in the preamble to the
Agreement.

 

FATCA – Sections
1471 through 1474 of the Code, any current or future regulations or official interpretations thereof, any agreement entered into pursuant
to Section 1471(b) of the Code, any intergovernmental agreement entered into in connection with the implementation of such sections
of the Code, or any or any fiscal or regulatory legislation, rules or practices adopted pursuant to such an intergovernmental agreement.

 

FCA - has the
meaning assigned thereto in Section 2.1.4.

 

FCPA – the Foreign
Corrupt Practices Act of 1977, as amended, and the rules and regulations thereunder.

 

Fee Letter – as defined in Section 2.3 of the Agreement.

 

Federal Funds Rate –
for any day, the rate per annum (rounded upwards, if necessary, to the nearest 1/100 of 1%) equal to the weighted average of the rates
on overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal funds brokers on such day, as published
by the Federal Reserve Bank of New York on the Business Day next succeeding such day; provided that (a) if such day is not
a Business Day, the Federal Funds Rate for such day shall be such rate on such transactions on the next preceding Business Day as so published
on the next succeeding Business Day, and (b) if no such rate is so published on such next succeeding Business Day, the Federal Funds
Rate for such day shall be the average rate (rounded upwards, if necessary, to the next 1/100 of 1%) of the quotations for such day for
such transactions received by the Agent from three Federal funds brokers of recognized standing selected by it.

 

     A-21

     

    

 

 

Financial Officer –
with respect to any Borrower, the chief financial officer, controller, treasurer or such other officer reasonably acceptable to Agent
of such Borrower.

 

Fixed Charge Coverage Ratio – with respect to any period, the ratio of (i) EBITDA for such period minus the sum of (a) any provision for (plus
any benefit from) income taxes paid in cash included in the determination of net earnings (or loss) for such period plus (b) non-financed
Capital Expenditures during such period, to (ii) Fixed Charges for such period, all as determined for Borrowers and Guarantors on
a Consolidated basis and in accordance with GAAP.

 

Fixed Charges –
with respect to any period, the sum of: (i) scheduled principal payments required to be made during such period in respect of indebtedness
for Money Borrowed (including the principal portion of Capitalized Lease Obligations), plus (ii) Interest Expense for such
period (excluding the amortization of financing costs and original issue discounts as determined in accordance with GAAP), all as determined
for Borrowers and Guarantors on a Consolidated basis and in accordance with GAAP.

 

Floor
- the benchmark rate floor, if any, provided in this Agreement initially (as of the execution of this Agreement,
the modification, amendment or renewal of this Agreement or otherwise) with respect to the LIBOR Rate.

 

Floor
 – means a rate of interest equal to 0%.

 

Foreign Lender –
any Lender that is organized under the laws of a jurisdiction outside the United States.

 

Fourth
Amendment Effective Date – June 14, 2022.

 

FRB – the Federal Reserve Board.

 

GAAP – generally
accepted accounting principles in the United States of America in effect from time to time.

 

Glencore – Glencore
plc, a company organized under the laws of Jersey and its Subsidiaries.

 

Governmental Authority – any nation or government, any state or other political subdivision thereof, any central bank (or similar monetary or regulatory
authority) thereof, any entity exercising executive, legislative, judicial, arbitral, regulatory or administrative functions of or pertaining
to government, and any corporation or other entity owned or controlled, through stock or capital ownership or otherwise, by any of the
foregoing.

 

Guarantors –
Metalsco LLC, Skyliner, LLC, Century Kentucky, Inc., Century Marketer LLC and each other Person who now or hereafter guarantees payment
or performance of the whole or any part of the Obligations.

 

Guaranty Agreements –
each guaranty executed by any Guarantor guaranteeing payment or performance of the whole or any part of the Obligations.

 

    A-22

    

    

 

Hawesville Entities – Century Kentucky, Inc.,
Century Aluminum of Kentucky General Partnership, Metalsco, LLC, Skyliner, LLC and NSA General Partnership

 

Hedge Agreement – a "swap agreement"
as that term is defined in Section 101(53B)(A) of title 11 of the United States Code, as in effect from time to time.

 

IBA - has the
meaning assigned thereto in Section 2.1.4.

 

Indebtedness – as applied to a Person, without
duplication:

 

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

 

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

 

(iii)        all obligations
of such Person to pay the deferred and unpaid price of property or services to the extent recorded as liabilities under GAAP, excluding
trade payables, accruals and accounts payable arising in the ordinary cause of business (in each case, to the extent not overdue);

 

 (iv)        all Capitalized Lease Obligations of such Person;

 

(v)         all
obligations of such Person (whether contingent or otherwise) in respect of bankers' acceptances, letters of credit, surety or other
bonds, and similar instruments;

 

(vi)        all financial obligations of
other Persons secured by a Lien upon Property of such Person;

 

(vii)       all
Indebtedness of other Persons which such Person has guaranteed;

 

(viii)      all reimbursement obligations
in connection with letters of credit or letter of credit guaranties issued for the account of such Person; and

 

(ix)        all
Derivative Obligations of such Person.

 

Insignificant
Subsidiary – as of any date of determination, any Guarantor if (a) none of the Accounts of such Loan Party have been
included in the Borrowing Base by Borrowers as Eligible Accounts at any time during the 60 day period ending on such date of
determination, (b) none of the Inventory of such Loan Party have been included in the Borrowing Base by Borrowers as Eligible
Inventory at any time during the 60 day period ending on such date of determination, (c) as of such date of determination, such
Loan Party has ceased or substantially curtailed its business and operations, (d) as of such date of determination, the value
of the Collateral of such Loan Party does not exceed $20,000,000, and (e) on such date of determination, the sum of
(i) Availability, calculated on a pro forma basis as if such Loan Party was not a Loan Party and without including any
Collateral held by such Loan Party in the Borrowing Base and (ii) immediately available funds in bank accounts of the other
Borrowers and readily marketable investments of the other Borrowers of the type described in clauses (v) through (viii) of
the definition of the term "Restricted Investments", is above $30,000,000.

 

    A-23

    

    

 

Insolvent Insignificant
Subsidiary – any Insignificant Subsidiary that shall have suffered the appointment of a receiver, trustee, custodian or similar
fiduciary, or shall have made an assignment for the benefit of creditors, or shall have filed, or had filed against it, any petition for
an order for relief under U.S. federal bankruptcy laws or under any other bankruptcy or insolvency act or law, state or federal, now or
hereafter existing (or any such Loan Party shall have made (or shall call or attend a meeting for the purpose of making) any offer of
settlement, extension or composition to their respective unsecured creditors generally or shall have taken any corporate action in furtherance
thereof.

 

Intellectual Property –
all past, present and future: trade secrets, know-how and other proprietary information; trademarks, internet domain names, service marks,
trade dress, trade names, business names, designs, logos, slogans (and all translations, adaptations, derivations and combinations of
the foregoing) indicia and other source and/or business identifiers, and the goodwill of the business relating thereto and all registrations
or applications for registrations which have heretofore been or may hereafter be issued thereon throughout the world; copyrights (including
copyrights for computer programs) and copyright registrations or applications for registrations which have heretofore been or may hereafter
be issued throughout the world and all tangible property embodying the copyrights, unpatented inventions (whether or not patentable);
patent applications and patents; industrial design applications and registered industrial designs; license agreements related to any of
the foregoing and income therefrom; books, records, writings, computer tapes or disks, flow diagrams, specification sheets, computer software,
source codes, object codes, executable code, data, databases and other physical manifestations, embodiments or incorporations of any of
the foregoing; the right to sue for all past, present and future infringements of any of the foregoing; all other intellectual property;
and all common law and other rights throughout the world in and to all of the foregoing.

 

Interest Expense –
with respect to any period, interest expense paid or accrued for such period, including the interest portion of Capitalized Lease Obligations,
all as determined for Borrowers and Guarantors on a Consolidated basis and in accordance with GAAP.

 

Interest Period –
as applicable to any LIBORSOFR
Portion, a period commencing on the date such LIBORSOFR
Portion is advanced, continued or converted, and ending on the date which is one month or,
three or six months later, as may then be requested by Borrower;
provided that (i) any Interest Period which would otherwise end on a day which is not a Business Day shall end in the next
preceding or succeeding Business Day as is Agent's custom in the market to which such LIBORSOFR
Portion relates; (ii) there remains a minimum of one month, twothree
months or threesix
months (depending upon which Interest Period Borrower selects) in the Term, unless Borrowers and Lenders have agreed to an extension of
the Term beyond the expiration of the Interest Period in question; and (iii) all Interest Periods of the same duration which commence
on the same date shall end on the same date.

 

Investment
Grade Status – with respect to any Person, such Person's securities are rated BBB- or better by S&P or Baa3 or better by Moody’s.

 

    A-24

    

    

 

ISDA Definitions -
the 2006 ISDA Definitions published by the International Swaps and Derivatives Association, Inc. or any successor thereto, as amended
or supplemented from time to time, or any successor definitional booklet for interest rate derivatives published from time to time by
the International Swaps and Derivatives Association, Inc. or such successor thereto.

 

Issuing Lender –
WFCF or any other Lender that, at the request of Borrower and with the consent of Agent, agrees, in such Lender's sole discretion, to
become an Issuing Lender for the purpose of issuing Letters of Credit or Reimbursement Undertakings pursuant to this Agreement, and the
Issuing Lender shall be a Lender.

 

LC Amount – at
any time, the aggregate undrawn face amount of all Letters of Credit then outstanding.

 

LC Exposure –
at any time, the sum of (i) the LC Amount as of such time, plus (ii) the aggregate amount of unreimbursed LC Obligations as
of such time.

 

LC Obligations – any Obligations that arise
from any draw against any Letter of Credit.

 

Lender – as defined in the preamble to the Agreement.

 

Letter of Credit – as defined in subsection
1.2.1 of the Agreement.

 

LIBOR
Business Day. – any day on which commercial banks are open for international business (including dealings in
U.S. Dollar deposits) in London or if commercial banks in London are not open, such other LIBOR interbank market as may be selected by
Agent in its reasonable judgment exercised in good faith.

 

LIBOR
Interest Payment Date – as to any LIBOR Portion the last day of the Interest Period applicable to such LIBOR
Portion.

 

LIBOR
Option – the option granted pursuant to Section 3.1 of the Agreement
to have the interest on all or any portion of the principal amount of the Revolving Credit Loans be based on the LIBOR Rate.

 

LIBOR
Portion – that portion of the Revolving Credit Loans specified in a LIBOR Request (including any portion of
Revolving Credit Loans which is being borrowed by Borrower concurrently with such LIBOR Request) which, as of the date of the LIBOR Request
specifying such LIBOR Portion, has met the conditions for basing interest on the LIBOR Rate in Section 3.1
of the Agreement and the Interest Period of which has not terminated.

 

LIBOR
Rate – the rate per annum as published by ICE Benchmark Administration Limited (or any successor page or
other commercially available source as Agent may designate from time to time) as of 11:00 a.m., London time, two Business Days prior to
the commencement of the requested Interest Period, for a term, and in an amount, comparable to the Interest Period and the amount of the
LIBOR Rate Loan requested (whether as an initial LIBOR Rate Loan or as a continuation of a LIBOR Rate Loan or as a conversion of a Base
Rate Loan to a LIBOR Rate Loan) by Borrowers in accordance with the Agreement (and, if any such rate is below zero, the LIBOR Rate shall
be deemed to be zero), which determination shall be made by Agent and shall be conclusive in the absence of manifest error.

 

    A-25

    

    

 

LIBOR
Request – a notice in writing (or by telephone confirmed electronically or by telecopy or other facsimile transmission
on the same day as the telephone request) from Borrower Representative to Agent requesting that interest on a Revolving Credit Loan be
based on the LIBOR Rate, specifying: (i) the first day of the Interest Period (which shall be a Business Day); (ii) the length
of the Interest Period; (iii) whether the LIBOR Portion is a new Loan, a conversion of a Base Rate Portion, or a continuation of
a LIBOR Portion; and (iv) the dollar amount of the LIBOR Portion, which shall be in an amount not less than $500,000 or an integral
multiple of $100,000 in excess thereof.

 

Lien – any mortgage,
security interest, pledge, hypothecation, assignment, attachment, deposit arrangement, encumbrance, lien (statutory, judgment or otherwise),
charge (whether fixed or floating), preference, priority or other security agreement or preferential arrangement of any kind or nature
whatsoever (including any similar such interest arising under the laws of any applicable domestic or foreign jurisdiction and including
any conditional sale or other title retention agreement, any financing lease involving substantially the same economic effect as any of
the foregoing and the filing of any financing statement under the UCC or comparable law of any domestic or foreign jurisdiction).

 

Line Cap – as
of any date of determination, the lesser of (a) the Revolving Credit Maximum Amount and (b) the Borrowing Base as of such date.

 

LME Price – the
official cash price expressed in U.S. dollars per metric ton of primary aluminum on the London Metals Exchange.

 

Loan Account – as defined in Section 3.6
of the Agreement.

 

Loan Documents –
the Agreement, the Guaranty Agreements, and any and all other agreements, instruments and documents heretofore, now or hereafter executed
and/or delivered to Agent or any Lender by any Loan Party in respect of the transactions contemplated by the Agreement.

 

Loan Party – each Borrower and each Guarantor.

 

Loans – all loans
and advances of any kind made by Agent, any Lender, or any Affiliate of Agent or any Lender, pursuant to the Agreement.

 

London
Banking Day – (i) for all purposes other than as covered by clause (ii) below, any day that is
not a Saturday or a Sunday in London, England or on which banking institutions in London, England are required or authorized by law
or other government action to be closed and (ii) with respect to all notices and determinations in connection with, and payment
of principal of and interest on, LIBOR Rate Loans, any day which is a London Banking Day described in clause (i) which is also
a day for trading by and between banks for U.S. Dollar deposits in the London interbank market.

 

    A-26

    

    

 

Majority Lenders –
as of any date, Lenders holding greater than 50% of the Revolving Loan Commitments determined on a combined basis and following the
termination of the Revolving Loan Commitments, Lenders holding greater than 50% or more of the then outstanding Loans and LC
Exposure; provided that if prior to termination of the Revolving Loan Commitments, any Lender breaches its obligation to fund
any requested Revolving Credit Loan, for so long as such breach exists, (i) its voting rights hereunder shall be calculated
with reference to its then outstanding Loans and LC Exposure, rather than its Revolving Loan Commitment and (ii) in determining
the total amount of Revolving Loan Commitments of all Lenders, the breaching Lender's Revolving Loan Commitment will be deemed to be
equal to its then outstanding Loans and LC Exposure.

 

Margin Stock –
 "margin stock" as such term is defined in Regulation T, U or X of the Federal Reserve Board.

 

Material Adverse Effect – (i) a material adverse effect on the business, condition (financial or otherwise), operation, performance or properties
of Borrowers and their Subsidiaries, taken as a whole, (ii) a material adverse effect on the rights and remedies of Agent or Lenders
under the Loan Documents, (iii) the impairment of the ability of Borrowers or Guarantors to perform their material obligations hereunder
or under the Loan Documents taken as a whole, or (iv) a material adverse effect on Agent's security interest in the Collateral.

 

Maximum Rate – as defined in subsection 2.1.3
of the Agreement.

 

Money Borrowed –
(i) Indebtedness arising from the lending of money by any Person to any Borrower or any Guarantor; (ii) Indebtedness, whether
or not in any such case arising from the lending by any Person of money to any Borrower or any Guarantor, (1) which is represented
by notes payable or drafts accepted that evidence extensions of credit, (2) which constitutes obligations evidenced by bonds, debentures,
notes or similar instruments, (3) upon which interest charges are customarily paid (other than accounts payable), or (4) that
was issued or assumed as full or partial payment for Property; (iii) Indebtedness that constitutes a Capitalized Lease Obligation;
(iv) reimbursement obligations with respect to letters of credit or guaranties of letters of credit and (v) Indebtedness of
any Borrower or any Guarantor under any guaranty of obligations that would constitute Indebtedness for Money Borrowed under clauses (i) through
(iii) hereof, if owed directly by such Borrower or Guarantor. Money Borrowed shall not include trade payables or accrued expenses.

 

Monthly Reporting Trigger
Amount – at any date of determination, the greater of (i) an amount equal 50% of the Line Cap as of such date and (ii) $87,500,000125,000,000.

 

Multiemployer Plan – has the meaning set forth
in Section 4001(a)(3) of ERISA.

 

Net Liquidation Percentage – the percentage of the book value of Borrowers' Inventory that is estimated to be recoverable in an orderly liquidation of
such Inventory net of all associated costs and expenses of such liquidation, such percentage to be as determined from time to time by
an appraisal company selected by Agent. At Agent's option, Net Liquidation Percentage may be calculated separately for different categories
of Inventory.

 

No-Offset Letter –
a letter agreement substantially in the form of Exhibit H to the Agreement or in such other form as is reasonably acceptable to Agent.

 

Notice of Exclusive Control – as defined in
subsection 6.2.3 of the Agreement.

 

    A-27

    

    

 

Notice of Uncommitted Facility Increase – as
defined in Section 1.3 of the Agreement.

 

Obligations –
all Loans, all LC Obligations, and all other advances, debts, liabilities, and obligations, together with all interest (including all
interest that accrues (or, but for the commencement of any bankruptcy, insolvency or similar proceeding, would accrue) after the commencement
of any insolvency, bankruptcy or other similar proceeding of any Borrower, whether or not a claim for post-filing interest is allowed
in such proceeding), fees and other charges thereon, of any kind or nature, present or future, whether or not evidenced by any note, guaranty
or other instrument, whether direct or indirect (including those acquired by assignment), absolute or contingent, primary or secondary,
due or to become due, now existing or hereafter arising and however acquired, owing, arising, due or payable (a) from any Borrower
to Agent, for its own benefit, or to WFCF or any other Affiliate of Agent, in each case arising under any of the Loan Documents, (b) from
any Borrower to WFCF, any Affiliate of WFCF, any Lender, or any Affiliate of any Lender in respect of Product Obligations, or (c) from
any Borrower to Agent for the benefit of any Lender or to any Lender directly, in each case under any of the Loan Documents; provided,
that Obligations shall not include Excluded Derivative Obligations.

 

OFAC – The Office of Foreign Assets Control
of the U.S. Department of the Treasury.

 

Organizational I.D. Number – with respect to any Person, the organizational identification number assigned to such Person by the applicable governmental
unit or agency of the jurisdiction of organization of such Person.

 

Other Taxes – as defined in subsection 2.9(c) of
the Agreement.

 

Outstanding Existing Revolving
Loan Balance – as defined in Section 1.1 of this Agreement.

 

Overadvance – as defined in subsection 1.1.2
of the Agreement.

 

Pension Plan –
a pension plan (as defined in Section 3(2) of ERISA) subject to Title IV of ERISA which any Borrower or any ERISA Affiliate
sponsors, maintains, or to which it makes, is making, or is obligated to make contributions.

 

Periodic
Term SOFR Determination Day – as defined in the definition of "Term SOFR".

 

Permitted Glencore Bill
and Hold Transaction – a sale of goods by any Borrower to Glencore pursuant to terms and conditions substantially consistent
with the supply agreement as in effect on the Second Restatement Effective Date, including, without limitation, terms and conditions in
respect of (i) invoicing and payment, (ii) title and risk of loss and (iii) that payment by Glencore in respect of any
underlying invoice will be made notwithstanding the fact that the goods subject to such invoice may not have yet been delivered to Glencore.

 

Permitted Liens – as defined in subsection
8.2.4 of the Agreement.

 

Permitted Purchase
Money Indebtedness – Purchase Money Indebtedness of any Borrower incurred after the Second Restatement Effective Date
which is secured by a Purchase Money Lien and the principal amount of which, when aggregated with the principal amount of all other
such Purchase Money Indebtedness and Capitalized Lease Obligations of Borrowers at the time outstanding, does not exceed
$15,000,000. For the purposes of this definition, the principal amount of any Purchase Money Indebtedness consisting of capitalized
leases (as opposed to operating leases) shall be computed as a Capitalized Lease Obligation.

 

    A-28

    

    

 

Permitted Refinancing
Indenture Documents – any indenture or similar instrument, together with related documents, pursuant to which Century
extends or refinances the Indebtedness under the 2021 Indenture so long as: (a) the terms, covenants and conditions of such
indenture or similar instrument and related documents, taken as a whole, are not, in the Agent's reasonable judgment, less favorable
to the Loan Parties than the terms, covenants and conditions of the 2021 Indenture, (b) the extended or refinanced Indebtedness
does not have an original principal issuance amount in excess of $300,000,000 plus any interest paid in kind, (c) the extended
or refinanced Indebtedness has a stated maturity date on or after the date that is six months following the date set forth in clause
(i) of the defined term Stated Termination Date, and (d) the extended or refinanced Indebtedness is non-recourse to each
Loan Party unless such Loan Party (other than Century Sebree and Century Marketer LLC) is obligated with respect to the Indebtedness
under the 2021 Indenture (or, following the incurrence of Indebtedness under any Permitted Refinancing Indenture Documents, is
obligated with respect to the Indebtedness under such Permitted Refinancing Indenture Documents). Agent and Lenders hereby
acknowledge and agree that Glencore may acquire and hold the Indebtedness incurred in connection with the Permitted Refinancing
Indenture Documents, or portion thereof, and that the acquisition and holding of such Indebtedness by Glencore shall not constitute
a violation of Section 8.2.3 (Affiliated Transactions) of the Loan Agreement.

 

Person – an individual,
partnership, corporation, limited liability company, joint stock company, land trust, business trust, or unincorporated organization,
or a government or agency or political subdivision thereof.

 

Plan – an employee
benefit plan (as defined in Section 3(3) of ERISA) which any Borrower sponsors or maintains or to which any Borrower makes,
is making, or is obligated to make contributions and includes any Pension Plan.

 

Product Obligations –
every obligation of any Borrower under and in respect of Bank Products that are secured by this Agreement and the Loan Documents in accordance
with Section 11.12; provided, that Product Obligations shall not include Excluded Derivative Obligations.

 

Projections –
with respect to any Person or Persons, forecasted (i) balance sheets, (ii) profit and loss statements, and (iii) cash
flow statements of such Person or Persons.

 

Property – any
interest in any kind of property or asset, whether real, personal or mixed, or tangible or intangible.

 

Purchase Money Indebtedness – includes (i) Indebtedness (other than the Obligations) for the payment of all or any part of the purchase, lease or improvement
of any fixed assets, (ii) any Indebtedness (other than the Obligations) incurred at the time of or within 10 days prior to or after
the acquisition of any fixed assets for the purpose of financing all or any part of the purchase, lease or improvement price thereof,
and (iii) any renewals, extensions or refinancings thereof, but not any increases in the principal amounts thereof outstanding at
the time.

 

    A-29

    

    

 

Purchase Money Lien –
a Lien upon fixed assets which secures Purchase Money Indebtedness, but only if such Lien shall at all times be confined solely to the
fixed assets the purchase price of which was financed through the incurrence of the Purchase Money Indebtedness secured by such Lien.

 

QFC – the meaning
assigned to the term "qualified financial contract" in, and shall be interpreted in accordance with, 12 U.S.C. § 5390(c)(8)(D).

 

QFC Credit Support – as defined in Section 12.23
of the Agreement.

 

Qualified Cash –
as at any date of determination thereof, the aggregate amount of unrestricted cash and readily marketable investments of the type described
in clause (viii) of the definition of the term "Restricted Investment" of any Borrower held in the domestic deposit account
or securities account acceptable to and maintained with Agent and designated in writing by Borrower Representative as the "Qualified
Cash Account", in each case that is subject to a control agreement in favor of Agent in form and substance satisfactory to Agent.

 

Qualified Cash Amount –
as at any date of determination, the lesser of (a) $25,000,000 and (b) the amount of Qualified Cash as reported in the most
recent Borrowing Base Certificate; provided, that, Agent may adjust the Qualified Cash Amount at any time in its Reasonable Credit
Judgment to account for any reduction in the amount of Qualified Cash as reported by the Borrowers in the most recent Borrowing Base Certificate.

 

Reasonable Credit Judgment – reasonable credit judgment, exercised in good faith, in accordance with Agent's customary business practices in its capacity
as agent for asset-based loan facilities comparable to the Facility.

 

Reference
Time - with respect to any setting of the then-current Benchmark means (1) if such Benchmark is the LIBOR Rate,
11:00 a.m. (London time) on the day that is two (2) London Banking Days preceding the date of such setting, and (2) if
such Benchmark is not the LIBOR Rate, the time determined by the Agent in its reasonable discretion.

 

Reimbursement Undertaking – as defined in subsection
1.2.1 of the Agreement.

 

Related Business –
the business of mining, reducing, refining, processing and selling bauxite, alumina, primary aluminum and aluminum products, and any business
reasonably related, incidental or ancillary thereto.

 

Relevant Governmental Body - the FRBBoard of Governors
or the Federal Reserve Bank of New York, or a committee officially endorsed or convened by the FRBBoard
of Governors or the Federal Reserve Bank of New York, or any successor thereto.

 

Reportable Event – any of the events set forth
in Section 4043(c) of ERISA.

 

Requirements of Law –
as to any Person, any law (statutory or common), treaty, rule or regulation or determination of an arbitrator or of a Governmental
Authority, in each case applicable to or binding upon the Person or any of its property or to which the Person or any of its property
is subject.

 

    A-30

    

    

 

Reserves – as defined in subsection 1.1.1
of the Agreement.

 

Resolution
Authority – an EEA Resolution Authority or, with respect to any UK Financial Institution, a UK Resolution Authority.

 

Responsible Officer –
shall mean the Chairman, Chief Executive Officer, President, Chief Financial Officer, Chief Operating Officer, Vice President, Treasurer
or Secretary of any Person.

 

Restricted Investment –
any investment by a Person in another Person made by delivery of Property to any Person, whether by (a) acquisition of
Securities, Indebtedness or other obligations of another Person, (b) loan, advance, extension of credit or capital
contribution to another Person or commitment to do any of the foregoing (including the purchase of Property from another Person
subject to an understanding or agreement, contingent or otherwise, to resell such Property to such Person or its Affiliate),
(c) acquisition of all or a significant part of the assets of a business conducted by any other Person or all or substantially
all of the assets constituting the business of a division, branch, or other unit operation of any other Person, whether through
purchase of assets, merger, or otherwise, (d) becoming a partner in any partnership or joint venture, (e) investments in
time deposits, certificates of deposit, bankers acceptances and money market, mutual or similar funds, (f) investments arising
out of forward contracts, futures contracts, exchange contracts, swaps, options or other financing agreements or arrangements
(including caps, floors, collars and similar arrangements), the value of which is dependent upon interest rates, currency exchange
rates, commodities indices or other indices, or (g) guaranties of obligations or liabilities of another Person, except the
following:

 

(i)          investments
by a Loan Party in one or more of its Subsidiaries that are not also Loan Parties to the extent existing on the Second Restatement Effective
Date, and any renewals, extensions, and refinancings of such investments consisting of loans; provided that any such renewal, extension,
or refinancing is in an aggregate principal amount not greater than the principal amount of the original investment, and is on terms no
less favorable taken as a whole to Borrower or Guarantor making the investment);

 

(ii)         investments
by a Borrower in one or more other Borrowers (including investments that flow or pass through a Guarantor to a Borrower) or investments
by a Guarantor in another Guarantor or one or more Borrowers;

 

(iii)        investments
consisting of Capital Expenditures permitted by subsection 8.2.6 of the Agreement;

 

 (iv)       Current Assets arising in the ordinary course of business;

 

(v)         investments in direct obligations of
the United States of America, or any agency thereof or obligations guaranteed by the United States of America; provided that
such obligations mature within one year from the date of acquisition thereof;

 

    A-31

    

    

 

 

(vi)          investments
in time deposit accounts, certificates of deposit, bankers acceptances and money market deposits maturing within one year of the
date of acquisition thereof issued by any Lender or a bank or trust company which is organized under the laws of the United States
of America, any State thereof or any foreign country recognized by the United States of America, and which bank or trust company has
capital, surplus and undivided profits aggregating in excess of $500,000,000 (or the foreign currency equivalent thereof) and whose
short-term debt is rated not less than if rated by Standard and Poor's Rating Group or P-2 if rated by Moody's Investor
Service, Inc. or any money market fund sponsored by a registered broker dealer or mutual fund distributor;

 

(vii)
          investments in commercial paper given a rating of not less
than A-1  if rated by Standard and Poor's Rating Group or P-1 if rated by Moody's Investor
Service, Inc. and maturing not more than 270 days from the date of creation thereof;

 

(viii)        investments in money market, mutual or
similar funds having assets in excess of $100,000,000 and the investments of which are limited to investment grade securities;

 

(ix)           investments and commitments
to make investments existing on the date of the Agreement and listed on Schedule 8.2.8 to the Agreement;

 

(x)            investments arising
out of forward contracts, futures contracts, exchange contracts, swaps, options or other financing agreements or arrangements (including
caps, floors, collars and similar arrangements), the value of which is dependent upon interest rates, currency exchange rates, commodities
indices or other indices, solely to the extent entered into for bona fide hedging purposes and not for speculative purposes;

 

(xi)          guaranties of obligations
of other Persons to the extent permitted by subsection 8.2.2 of the Agreement; or

 

(xii)         investments
not included in paragraphs (i) through (xi) above; provided that:

 

(1)             no Default
or Event of Default is continuing at the time of such investment or would occur as a result thereof; and

 

(2)             after giving
effect to such investment, either (A) Availability shall be equal to or greater than the greater of (I) an amount equal to 17.5%
of the Line Cap and (II) $20,000,00028,500,000,
or (B)(I) Availability shall be equal to or greater than the greater of (y) an amount equal to 12.5% of the Line Cap and (Z) $15,000,00021,500,000,
and (II) Borrowers and Guarantors shall have a pro forma Fixed Charge Coverage Ratio of not less than 1.1 to 1.0 as of the
last day of the immediately preceding four fiscal quarters for which financial statements have been filed with the SEC, taken as a single
period or, if not so filed, then for which such financial statements were required to have been delivered under the Agreement.

    A-32

     

    

 

Restrictive
Agreement – an agreement (other than any of the Loan Documents) that, if and for so long as a Borrower is a party thereto,
would prohibit, condition or restrict such Borrower's right to (a) repay any of the Obligations or perform any of its other
obligations under the Loan Documents, (b) grant Liens in favor of Agent pursuant to the Loan Documents upon any of such
Borrower's Collateral, or (c) amend, modify or extend any of the Loan Documents..

 

Revolving Credit
Loan – a Loan made by any Lender pursuant to Section 1.1 of the Agreement.

 

Revolving Credit
Maximum Amount – $220,000,000250,000,000
as of the ThirdFourth
Amendment Effective Date, as such amount may be increased or reduced from time to time pursuant to the terms of the Agreement.

 

Revolving Loan
Commitment – with respect to any Lender, the amount of such Lender's Revolving Loan Commitment pursuant to subsection
1.1.1 of the Agreement, as set forth on Schedule C-1 (as of the ThirdFourth Amendment
Effective Date) or any Assignment and Acceptance Agreement executed by such Lender.

 

Revolving Loan
Percentage – with respect to each Lender, the percentage equal to the quotient of such Lender's Revolving Loan Commitment divided
by the aggregate of all Revolving Loan Commitments, and following the termination of the Revolving Loan Commitments, the
percentage equal to the quotient of such Lender's interest in the outstanding Loans and LC Exposure divided by the aggregate
of all outstanding Loans and LC Exposure.

 

Sanctioned
Entity – (a) a country or territory or a government of a country or territory, (b) an agency of the government
of a country or territory, (c) an organization directly or indirectly controlled by a country or territory or its government,
or (d) a Person resident in or determined to be resident in a country or territory, in each case of clauses (a) through
(d) that is a target of Sanctions, including a target of any country or territory sanctions program administered and enforced
by OFAC.

 

Sanctioned Person
 – at any time (a) any Person named on the list of Specially Designated Nationals and Blocked Persons maintained by OFAC,
OFAC's consolidated Non-SDN list or any other Sanctions-related list maintained by any Governmental Authority, (b) a Person or
legal entity that is a target of Sanctions, (c) any Person operating, organized or resident in a Sanctioned Entity, or
(d) any Person directly or indirectly owned or controlled (individually or in the aggregate) by or acting on behalf of any such
Person or Persons described in clauses (a) through (c) above.

 

Sanctions –
individually and collectively, respectively, any and all economic sanctions, trade sanctions, financial sanctions, sectoral
sanctions, secondary sanctions, trade embargoes anti-terrorism laws and other sanctions laws, regulations or embargoes, including
those imposed, administered or enforced from time to time by: (a) the United States of America, including those administered by
OFAC, the U.S. Department of State, the U.S. Department of Commerce, or through any existing or future executive order, (b) the
United Nations Security Council, (c) the European Union or any European Union member state, (d) Her Majesty's Treasury of
the United Kingdom, or (d) any other Governmental Authority with jurisdiction over any member of Lender Group or any Loan Party
or any of their respective Subsidiaries or Affiliates.

 

    A-33

     

    

 

SEC – the United States Securities and
Exchange Commission.

 

Second
Amendment Effective Date – June 11, 2021.

 

Second Restatement
Effective Date – the date on which all of the conditions precedent in Section 9.1 of the Agreement are
satisfied or waived.

 

Secured Parties –
Lenders, Issuing Lender, Agent, and any other holder of any Obligation.

 

Security –
all shares of stock, partnership interests, membership interests, membership units or other ownership interests in any Person and
all warrants, options or other rights to acquire the same.

 

SOFR - with
respect to any Business Day, a rate per annum equal to the secured overnight
financing rate for such Business Day publishedas
administered by the SOFR Administrator on the SOFR Administrator’s Website on the immediately
succeeding Business Day.

 

SOFR
Administrator - the Federal Reserve Bank of New York (or a successor administrator of the secured overnight financing rate).

 

SOFR
Administrator’s Website - the website of the Federal Reserve Bank of New York, currently at http://www.newyorkfed.org,
or any successor source for the secured overnight financing rate identified as such by the SOFR Administrator from time to time.

 

SOFR
Interest Payment Date – as to any SOFR Portion the last day of the Interest Period applicable to such SOFR Portion and, in the case
of a SOFR Portion with an Interest Period of more than three (3) months' duration, each day prior to the last day of such Interest
Period that occurs at intervals of three (3) months' duration after the first day of such Interest Period.

 

SOFR
Option – the option granted pursuant to Section 3.1 of the Agreement to have the interest on all or any portion of the principal
amount of the Revolving Credit Loans be based on Adjusted Term SOFR.

 

SOFR
Portion – that portion of the Revolving Credit Loans specified in a SOFR Request (including any portion of Revolving Credit Loans
which is being borrowed by Borrower concurrently with such SOFR Request) which, as of the date of the SOFR Request specifying such SOFR
Portion, has met the conditions for basing interest on the SOFR Rate in Section 3.1 of the Agreement and the Interest Period of which
has not terminated.

 

SOFR
Request – a notice in writing (or by telephone confirmed electronically or by telecopy or other facsimile transmission on the same
day as the telephone request) from Borrower Representative to Agent requesting that interest on a Revolving Credit Loan be based on Adjusted
Term SOFR, specifying: (i) the first day of the Interest Period (which shall be a Business Day); (ii) the length of the Interest
Period; (iii) whether the SOFR Portion is a new Loan, a conversion of a Base Rate Portion, or a continuation of a SOFR Portion; and
(iv) the dollar amount of the SOFR Portion, which shall be in an amount not less than $500,000 or an integral multiple of $100,000
in excess thereof.

 

    A-34

     

    

 

Solvent –
as to any Person, that such Person (i) owns Property (including all rights of subrogation, contribution or indemnification
arising pursuant to guarantees of such Person) whose fair saleable value is greater than the amount required to pay all of such
Person's Indebtedness (including contingent debts calculated based on the likelihood such debts will become due and payable),
(ii) is able to pay all of its Indebtedness as such Indebtedness matures and (iii) has capital sufficient to carry on its
business and transactions and all business and transactions in which it is about to engage.

 

Stated Termination
Date – the earlier of (i) May 16, 2023June 14,
2027 and (ii) the date that is six (6) months prior to the stated maturity of the Indebtedness under the 2021
Indenture (as in effect on the Second Amendment Effective Date), provided, for the sake of clarity, that after giving effect
to a refinancing of the Indebtedness under the 2021 Indenture pursuant to any Permitted Refinancing Indenture Documents, the date
under this clause (ii) shall be the date that is six (6) months prior to the stated maturity of the Indebtedness under any
such Permitted Refinancing Indenture Documents.

 

Subsidiary
 – any Person of which another Person owns, directly or indirectly through one or more intermediaries, more than 50% of the
Voting Stock at the time of determination.

 

Supported QFC – as defined in Section 12.23
of the Agreement.

 

Supporting Letter of Credit – as defined in
subsection 1.2.10 of the Agreement.

 

Swingline Loans – as defined in subsection
1.1.3 of the Agreement.

 

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

 

Tax Liabilities – as defined in subsection
2.9(a) of the Agreement.

 

Term – as defined in Section 4.1
of the Agreement.

 

Term
SOFR – (a) for any calculation with respect to a Revolving Credit Loan based on Adjusted Term SOFR, the Term SOFR Reference
Rate for a tenor comparable to the applicable Interest Period on the day (such day, the "Periodic Term SOFR Determination Day")
that is two (2) U.S.
Government Securities Business Days prior to the first day of such Interest Period, as such rate is published by the Term SOFR Administrator;
provided, however, that if as of 5:00 p.m. (New York City time) on any Periodic Term SOFR Determination Day the Term SOFR Reference
Rate for the applicable tenor has not been published by the Term SOFR Administrator and a Benchmark Replacement Date with respect to
the Term SOFR Reference Rate has not occurred, then Term SOFR will be the Term SOFR Reference Rate for such tenor as published by the
Term SOFR Administrator on the first preceding U.S. Government Securities Business Day for which such Term SOFR Reference Rate for such
tenor was published by the Term SOFR Administrator so long as such first preceding U.S. Government Securities Business Day is not more
than three (3) U.S. Government Securities Business Days prior to such Periodic Term SOFR Determination Day, and

 

    A-35

     

    

 

(b)         for
any calculation with respect to a Revolving Credit Loan based on the Base Rate on any day, the Term SOFR Reference Rate for a tenor of
one month on the day (such day, the "Base Rate Term SOFR Determination Day") that is two (2) U.S. Government Securities
Business Days prior to such day, as such rate is published by the Term SOFR Administrator; provided, however, that if as of 5:00 p.m. (New
York City time) on any Base Rate Term SOFR Determination Day the Term SOFR Reference Rate for the applicable tenor has not been published
by the Term SOFR Administrator and a Benchmark Replacement Date with respect to the Term SOFR Reference Rate has not occurred, then Term
SOFR will be the Term SOFR Reference Rate for such tenor as published by the Term SOFR Administrator on the first preceding U.S. Government
Securities Business Day for which such Term SOFR Reference Rate for such tenor was published by the Term SOFR Administrator so long as
such first preceding U.S. Government Securities Business Day is not more than three (3) U.S. Government Securities Business Days
prior to such Base Rate Term SOFR Determination Day.

 

Term
SOFR Adjustment – for any calculation with respect to a Revolving Credit Loan or Letters of Credit, a percentage per annum set forth
below for the applicable type of such Revolving Credit Loan or Letter of Credit and (if applicable) the Interest Period therefor:

 

	Interest Period	Percentage
	One month	0.10%
	Three months	0.10%
	Six months	0.25%

 

Term
SOFR Administrator – CME Group Benchmark Administration Limited (CBA) (or a successor administrator of the Term SOFR Reference Rate
selected by Agent in its reasonable discretion).

 

Term SOFR -
for the applicable Corresponding Tenor as of the applicable Reference Time,Rate
 – the forward-looking term rate based on SOFR that has been selected or recommended
by the Relevant Governmental Body.

 

Term
SOFR Notice - a notification by the Agent to the Lenders and the Borrowers of the occurrence of a Term SOFR Transition
Event.

 

Term
SOFR Transition Event - the determination by the Agent that (a) Term SOFR has been recommended for use by the
Relevant Governmental Body, (b) the administration of Term SOFR is administratively feasible for the Agent and (c) a Benchmark
Transition Event or an Early Opt-in Election, as applicable, has previously occurred resulting in the replacement of the then-current
Benchmark for all purposes hereunder and under any Loan Document in accordance with Section 3.13.3
with a Benchmark Replacement the Unadjusted Benchmark Replacement component of which is not Term SOFR.

 

Third Amendment Effective Date –
December 23, 2021.

 

Title Document
Agent – UPS Supply Chain Solutions, Inc., Carolina Shipping Company, LP and any other Person selected by Borrower
Representative after written notice by Borrower Representative to Agent who is reasonably acceptable to Agent to receive and retain
possession of negotiable documents (as defined in Section 7-104 of the UCC) issued for any Inventory or other property of
Borrowers in accordance with a Title Document Agency Agreement, such receipt and retention of possession being for the purpose of
more fully perfecting and preserving Agent's security interests in such negotiable documents and the property represented thereby.
For avoidance of doubt, no Person shall be a Title Document Agent unless such Person has executed and delivered a Title Document
Agency Agreement.

 

    A-36

     

    

 

Title Document Agency
Agreement – an agreement among a Borrower, a Title Document Agent, and Agent, substantially in the form of Exhibit I
to the Agreement.

 

Type of
Organization – with respect to any Person, the kind or type of entity by which such Person is organized, such as a
corporation or limited liability company.

 

UCC – the
Uniform Commercial Code as in effect in the State of New York on the date of this Agreement, as it may be amended or otherwise
modified.

 

UK
Financial Institution – any BRRD Undertaking (as such term is defined under the PRA Rulebook (as amended form time to time) promulgated
by the United Kingdom Prudential Regulation Authority) or any person falling within IFPRU 11.6 of the FCA Handbook (as amended from time
to time) promulgated by the United Kingdom Financial Conduct Authority, which includes certain credit institutions and investment firms,
and certain affiliates of such credit institutions or investment firms.

 

UK
Resolution Authority – the Bank of England or any other public administrative authority having responsibility for the resolution
of any UK Financial Institution.

 

Unadjusted Benchmark
Replacement - the applicable Benchmark Replacement excluding the related Benchmark Replacement Adjustment.

 

Uncommitted Facility Increase – as defined
in Section 1.3 of the Agreement.

 

Uncommitted Facility Increase Amount – as
defined in Section 1.3 of the Agreement.

 

Uncommitted Facility Increase
Effective Date – as defined in Section 1.3 of the Agreement.

 

Uncommitted Facility Increase Offerees –
as defined in Section 1.3 of the Agreement.

 

Underlying Issuer – Wells Fargo or one of
its Affiliates.

 

Underlying Letter of Credit – a Letter of
Credit that has been issued by an Underlying Issuer.

 

Unused Letter of Credit
Subfacility – at any time, an amount equal to $110,000,000150,000,000 minus the LC Exposure at such time.

 

Unused Line Fee – as defined in Section 2.5 of
the Agreement.

 

Unused Line Fee Applicable Margin – a per
annum fee equal to 0.25%.

 

    A-37

     

    

 

U.S.
Government Securities Business Day – any day except for (i) a Saturday, (ii) a Sunday or (iii) a day on which the
Securities Industry and Financial Markets Association (or any successor thereto) recommends that the fixed income departments of its members
be closed for the entire day for purposes of trading in United States government securities; provided, that for purposes of notice requirements
in Sections 3.1.6, 3.1.7 and 3.1.8, in each case, such day is also a Business Day.

 

U.S. Special Resolution Regimes – as
defined in Section 12.23 of the Agreement.

 

Voting Stock
 – Securities of any class or classes of a corporation, limited partnership or limited liability company or any other entity
the holders of which are ordinarily, in the absence of contingencies, entitled to vote with respect to the election of corporate
directors (or Persons performing similar functions).

 

WFCF – as defined in the preamble to the
Agreement.

 

Wells Fargo – Wells Fargo Bank, National
Association, a national banking association.

 

Weekly Reporting
Trigger Amount – at any date of determination, the greater of (i) an amount equal 10% of the Line Cap as of such date
and (ii) $12,500,00017,850,000.

 

WIP
Sublimit – at any date of termination, the greater of (i) an amount equal to 20% of the Line Cap as of such date and (ii) $50,000,000.

 

Withdrawal
Liability – with respect to a Multiemployer Plan, any "complete withdrawal" or "partial withdrawal",
as each of such terms are defined under Sections 4203 and 4205 of ERISA.

 

Write-Down and
Conversion Powers – (a) 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.,
and (b) with respect to the United Kingdom, any powers of the applicable Resolution Authority under the Bail-In Legislation to
cancel, reduce, modify or change the form of a liability of any UK Financial Institution or any contract or instrument under which
that liability arises, to convert all or part of that liability into shares, securities or obligations of that person or any other
person, to provide that any such contract or instrument is to have effect as if a right had been exercised under it or to suspend
any obligation in respect of that liability or any of the powers under that Bail-In Legislation that are related to or ancillary to
any of those powers.

 

Certain Matters of Construction.
The terms "herein", "hereof" and "hereunder" and other words of similar import refer to the Agreement as
a whole and not to any particular section, paragraph or subdivision. The term "including" means "including without limitation."
Any pronoun used shall be deemed to cover all genders. The section titles, table of contents and list of exhibits appear as a matter of
convenience only and shall not affect the interpretation of the Agreement. All references to statutes and related regulations shall include
any amendments of same and any successor statutes and regulations. All references to any of the Loan Documents shall include any and all
modifications thereto and any and all extensions or renewals thereof.

 

    A-38

     

    

 

EXHIBIT B

 

Closing Checklist

 

(attached)

 

    

     

    

 

CLOSING CHECKLIST

 

LOANS BY 

WELLS FARGO CAPITAL FINANCE,
LLC 

TO 

CENTURY ALUMINUM COMPANY 

CENTURY ALUMINUM OF SOUTH
CAROLINA, INC. 

NSA GENERAL PARTNERSHIP 

CENTURY ALUMINUM OF KENTUCKY
GENERAL PARTNERSHIP 

CENTURY ALUMINUM SEBREE LLC

 

Amendment No. 4
to 

Second Amended and Restated Loan and Security Agreement

 

CLOSING DATE: June 14, 2022

 

I.            Parties:

 

A.           Wells
Fargo Capital Finance, LLC ("WFCF"), 

individually and as agent ("Agent") 

10 South Wacker Drive, 22nd Floor 

Chicago, Illinois 60606

 

B.           Century
Aluminum Company ("Century") Century Aluminum of South Carolina, Inc. 

(successor in interest to Berkeley Aluminum, Inc.)
("Century South Carolina")

NSA General Partnership ("NSA") 

Century Aluminum of Kentucky General Partnership ("Century
Kentucky Partnership") Century Aluminum Sebree LLC ("Century Sebree"; Century, Century South Carolina, NSA,
Century Kentucky Partnership and Century Sebree are "Borrowers")

1 South Wacker Drive, Suite 1000 

Chicago, Illinois 60606

 

C.          
Metalsco, LLC ("Metalsco") Skyliner, LLC ("Skyliner") 

Century Kentucky, Inc. ("Century Kentucky") 

Century Marketer LLC ("Century
Marketer"; Metalsco, Skyliner and Century Kentucky are "Guarantors"; Guarantors and Borrowers are
 "Loan Parties")

1 South Wacker Drive, Suite 1000 

Chicago, Illinois 60606

 

    

     

    

 

		D.	Lenders:

 

Wells Fargo Capital Finance, LLC 

10 South Wacker Drive, 22nd Floor 

Chicago, Illinois 60606

 

Credit Suisse AG, Cayman Islands Branch

1 First Canadian Place,
Suite 3000

Toronto, Ontario M5X 1C9 – Canada

 

Bank of America, N.A. 

110 North Wacker Drive 

Chicago, Illinois 60606

 

BMO Harris Bank, N.A.

 

	II.	Counsel to Parties:
	 	 

		A.	Counsel to Agent: Goldberg Kohn Ltd.

 

55 East Monroe Street, Suite 3300 

Chicago, Illinois 60603 

Telephone:      (312)
201-4000 

Telecopy:        (312)
332-2196

 

		B.	Counsel to Loan Parties:

 

John DeZee, General Counsel

Century Aluminum Company 

1 South Wacker Drive, Suite 1000

Chicago, Illinois 60606

 

and

 

Vedder Price 

222 North LaSalle Street 

Chicago, Illinois 60601 

Telecopy:        (312)
609-5005

 

and

 

Frost Brown Todd 

400 West Market Street, Suite 3200 

Louisville, Kentucky 40202-3363 

Telephone:     (502)
589-5400 

Telecopy:       (502)
581-1087

 

and

 

Jones Day 

1420 West Peachtree Street NE #800 

Atlanta, Georgia 30309 

Telephone:      (404)
521-3939 

Telecopy:        (404)
581-8330

 

    -2-

     

    

 

		III.	Closing Documents:

 

		A.	Loan Documents:

 

		1.	Amendment No. 4 to Second Amended and Restated Loan and Security Agreement (Loan Parties)

 

		2.	Supplemental Fee Letter (Borrowers)

 

		3.	Master Reaffirmation of Loan Documents (Loan Parties)

 

		4.	Exiting Lender Letter (BNP Paribas)

 

		5.	Master L/C Assignment of Proceeds

 

		6.	Secretary's Certificates with respect to organizational documents, resolutions and incumbency, including
certified copies of constating documents and certificates of good standing for jurisdiction of organization and each state in which each
Loan Party is qualified to do business as set forth on Exhibit A:

 

		(a)	Century Aluminum Company

		(b)	Century Aluminum of South Carolina, Inc.

		(c)	Century Kentucky, Inc. as Managing Partner of NSA General Partnership

		(d)	Metalsco, LLC, as Managing Partner of Century Aluminum of Kentucky General Partnership

		(e)	Century Aluminum Sebree LLC

		(f)	Century Kentucky, Inc.

		(g)	Metalsco, LLC

		(h)	Skyliner, LLC

		(i)	Century Marketer LLC

 

		B.	Other Items:

 

		7.	No-Off Set Letter (Glencore Ltd.)

 

		8.	Opinions of Vedder Price re Loan Documents

 

		9.	Opinions of Frost Brown Todd re Loan Documents (Kentucky local counsel)

 

    -3-

     

    

 

EXHIBIT A

 

CERTIFIED COPIES OF CONSTATING DOCUMENTS
AND STATE OF

ORGANIZATION AND GOOD STANDING CERTIFICATES

 

	Century:	Century Kentucky:
	 	 
	Amended and Restated Certificate of Incorporation (Delaware)	Certificate of Incorporation (Delaware)
	Amended and Restated ByLaws	By-Laws
	Resolutions	Resolutions
	Incumbency	Incumbency
	Good Standing Certificate (Delaware)	Good Standing Certificate (Delaware)
	 	 
	Century South Carolina:	Metalsco:
	 	 
	Amended and Restated Certificate of Incorporation (Delaware)	Articles of Organization
	By-Laws	Limited Liability Company Agreement
	Resolutions	Resolutions
	Incumbency	Incumbency
	Good Standing Certificate (Delaware)	Good Standing Certificate (Georgia)
	 	Skyliner:
	NSA:	 
	 	Certificate of Formation (Delaware)
	Certificate of Partnership
    Authority	Limited Liability Company Agreement
	Second Amended and Restated Agreement of Partnership	Resolutions
	Resolutions	Incumbency
	Incumbency	Good Standing Certificate (Delaware)
	 	 
	Century Kentucky Partnership:	Century Marketer:
	 	 
	Certificate of Partnership Authority	Certificate of Formation (Delaware)
	Agreement of Partnership	Limited Liability Company Agreement
	Resolutions	Resolutions
	Incumbency	Incumbency
		Good Standing Certificate (Delaware) 
	Century Sebree:	 
	 	 
	Certificate of Formation (Delaware)	 
	Amended and Restated Limited Liability Company Agreement	 
	Resolutions	 
	Incumbency	 
	Good Standing Certificate (Delaware)

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